XML 69 R54.htm IDEA: XBRL DOCUMENT
v3.20.4

Fair Value Measurements - Debt (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Oct. 31, 2020 | Jan. 31, 2020 | Dec. 31, 2019 | Oct. 11, 2018 | Jan. 31, 2017
--- | --- | --- | --- | --- | --- | ---
Fair Value of Financial Instruments |  |  |  |  |  |
Less: deferred financing costs | $ 22,270 |  |  | $ 30,332 |  |
Long-term debt | $ 2,968,701 |  |  | $ 3,333,220 |  |
5.00% senior notes due September 2020 |  |  |  |  |  |
Fair Value of Financial Instruments |  |  |  |  |  |
Interest rate on senior notes due (as a percent) | 5.00% |  |  |  |  |
Effective Interest Rate (as a percent) |  |  |  | 5.44% |  |
4.625% senior notes due September 2021 |  |  |  |  |  |
Fair Value of Financial Instruments |  |  |  |  |  |
Interest rate on senior notes due (as a percent) | 4.625% |  |  |  |  |
Effective Interest Rate (as a percent) | 5.65% |  |  | 4.76% |  |
5.50% senior notes due January 2023 |  |  |  |  |  |
Fair Value of Financial Instruments |  |  |  |  |  |
Interest rate on senior notes due (as a percent) | 5.50% |  |  |  |  |
Effective Interest Rate (as a percent) | 5.85% |  |  | 5.90% |  |
5.10% senior notes due September 2023 |  |  |  |  |  |
Fair Value of Financial Instruments |  |  |  |  |  |
Interest rate on senior notes due (as a percent) | 5.10% |  |  |  |  |
Effective Interest Rate (as a percent) | 5.32% |  |  | 5.24% |  |
0.75% senior exchangeable notes due January 2024 |  |  |  |  |  |
Fair Value of Financial Instruments |  |  |  |  |  |
Interest rate on senior notes due (as a percent) | 0.75% |  |  |  |  | 0.75%
Effective Interest Rate (as a percent) | 6.06% |  |  | 5.97% |  |
5.75% senior notes due February 2025 |  |  |  |  |  |
Fair Value of Financial Instruments |  |  |  |  |  |
Interest rate on senior notes due (as a percent) | 5.75% |  |  |  |  |
Effective Interest Rate (as a percent) | 6.01% |  |  | 6.01% |  |
6.50% senior priority guaranteed notes due February 2025 |  |  |  |  |  |
Fair Value of Financial Instruments |  |  |  |  |  |
Interest rate on senior notes due (as a percent) | 6.50% | 6.50% |  |  |  |
Effective Interest Rate (as a percent) | 6.50% |  |  |  |  |
9.00% senior priority guaranteed notes due February 2025 |  |  |  |  |  |
Fair Value of Financial Instruments |  |  |  |  |  |
Interest rate on senior notes due (as a percent) | 9.00% | 9.00% |  |  |  |
Effective Interest Rate (as a percent) | 9.00% |  |  |  |  |
7.25% senior notes due January 2026 |  |  |  |  |  |
Fair Value of Financial Instruments |  |  |  |  |  |
Interest rate on senior notes due (as a percent) | 7.25% |  | 7.25% |  |  |
Effective Interest Rate (as a percent) | 7.51% |  |  |  |  |
7.50% senior notes due January 2028 |  |  |  |  |  |
Fair Value of Financial Instruments |  |  |  |  |  |
Interest rate on senior notes due (as a percent) | 7.50% |  | 7.50% |  |  |
Effective Interest Rate (as a percent) | 7.69% |  |  |  |  |
2012 revolving credit facility |  |  |  |  |  |
Fair Value of Financial Instruments |  |  |  |  |  |
Effective Interest Rate (as a percent) |  |  |  | 3.71% |  |
2018 revolving credit facility |  |  |  |  |  |
Fair Value of Financial Instruments |  |  |  |  |  |
Interest rate on senior notes due (as a percent) |  |  |  |  | 5.50% |
Effective Interest Rate (as a percent) | 3.53% |  |  |  |  |
Fair Value |  |  |  |  |  |
Fair Value of Financial Instruments |  |  |  |  |  |
Debt | $ 2,229,649 |  |  | $ 3,196,660 |  |
Fair Value | 5.00% senior notes due September 2020 |  |  |  |  |  |
Fair Value of Financial Instruments |  |  |  |  |  |
Debt |  |  |  | 284,907 |  |
Fair Value | 4.625% senior notes due September 2021 |  |  |  |  |  |
Fair Value of Financial Instruments |  |  |  |  |  |
Debt | 78,862 |  |  | 632,516 |  |
Fair Value | 5.50% senior notes due January 2023 |  |  |  |  |  |
Fair Value of Financial Instruments |  |  |  |  |  |
Debt | 18,768 |  |  | 483,834 |  |
Fair Value | 5.10% senior notes due September 2023 |  |  |  |  |  |
Fair Value of Financial Instruments |  |  |  |  |  |
Debt | 78,435 |  |  | 303,860 |  |
Fair Value | 0.75% senior exchangeable notes due January 2024 |  |  |  |  |  |
Fair Value of Financial Instruments |  |  |  |  |  |
Debt | 169,458 |  |  | 431,503 |  |
Fair Value | 5.75% senior notes due February 2025 |  |  |  |  |  |
Fair Value of Financial Instruments |  |  |  |  |  |
Debt | 318,871 |  |  | 705,040 |  |
Fair Value | 6.50% senior priority guaranteed notes due February 2025 |  |  |  |  |  |
Fair Value of Financial Instruments |  |  |  |  |  |
Debt | 44,059 |  |  |  |  |
Fair Value | 9.00% senior priority guaranteed notes due February 2025 |  |  |  |  |  |
Fair Value of Financial Instruments |  |  |  |  |  |
Debt | 185,221 |  |  |  |  |
Fair Value | 7.25% senior notes due January 2026 |  |  |  |  |  |
Fair Value of Financial Instruments |  |  |  |  |  |
Debt | 396,106 |  |  |  |  |
Fair Value | 7.50% senior notes due January 2028 |  |  |  |  |  |
Fair Value of Financial Instruments |  |  |  |  |  |
Debt | 267,369 |  |  |  |  |
Fair Value | 2012 revolving credit facility |  |  |  |  |  |
Fair Value of Financial Instruments |  |  |  |  |  |
Debt |  |  |  | 355,000 |  |
Fair Value | 2018 revolving credit facility |  |  |  |  |  |
Fair Value of Financial Instruments |  |  |  |  |  |
Debt | 672,500 |  |  |  |  |
Carrying Value |  |  |  |  |  |
Fair Value of Financial Instruments |  |  |  |  |  |
Debt | 2,990,971 |  |  | 3,363,552 |  |
Less: deferred financing costs | 22,270 |  |  | 30,332 |  |
Long-term debt | 2,968,701 |  |  | 3,333,220 |  |
Carrying Value | 5.00% senior notes due September 2020 |  |  |  |  |  |
Fair Value of Financial Instruments |  |  |  |  |  |
Debt |  |  |  | 282,046 |  |
Carrying Value | 4.625% senior notes due September 2021 |  |  |  |  |  |
Fair Value of Financial Instruments |  |  |  |  |  |
Debt | 86,329 |  |  | 634,588 |  |
Carrying Value | 5.50% senior notes due January 2023 |  |  |  |  |  |
Fair Value of Financial Instruments |  |  |  |  |  |
Debt | 28,443 |  |  | 501,003 |  |
Carrying Value | 5.10% senior notes due September 2023 |  |  |  |  |  |
Fair Value of Financial Instruments |  |  |  |  |  |
Debt | 121,077 |  |  | 336,810 |  |
Carrying Value | 0.75% senior exchangeable notes due January 2024 |  |  |  |  |  |
Fair Value of Financial Instruments |  |  |  |  |  |
Debt | 279,700 |  |  | 472,603 |  |
Carrying Value | 5.75% senior notes due February 2025 |  |  |  |  |  |
Fair Value of Financial Instruments |  |  |  |  |  |
Debt | 610,818 |  |  | 781,502 |  |
Carrying Value | 6.50% senior priority guaranteed notes due February 2025 |  |  |  |  |  |
Fair Value of Financial Instruments |  |  |  |  |  |
Debt | 50,485 |  |  |  |  |
Carrying Value | 9.00% senior priority guaranteed notes due February 2025 |  |  |  |  |  |
Fair Value of Financial Instruments |  |  |  |  |  |
Debt | 192,032 |  |  |  |  |
Carrying Value | 7.25% senior notes due January 2026 |  |  |  |  |  |
Fair Value of Financial Instruments |  |  |  |  |  |
Debt | 559,978 |  |  |  |  |
Carrying Value | 7.50% senior notes due January 2028 |  |  |  |  |  |
Fair Value of Financial Instruments |  |  |  |  |  |
Debt | 389,609 |  |  |  |  |
Carrying Value | 2012 revolving credit facility |  |  |  |  |  |
Fair Value of Financial Instruments |  |  |  |  |  |
Debt |  |  |  | $ 355,000 |  |
Carrying Value | 2018 revolving credit facility |  |  |  |  |  |
Fair Value of Financial Instruments |  |  |  |  |  |
Debt | $ 672,500 |  |  |  |  |

X
- Definition Fair value portion of debt instrument payable, including, but not limited to, notes payable and loans payable. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=121572278&loc=d3e13433-108611 + Details
Name: | us-gaap_DebtInstrumentFairValue
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Effective interest rate for the funds borrowed under the debt agreement considering interest compounding and original issue discount or premium. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 6 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=120520924&loc=SL6036836-161870 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=119993939&loc=d3e28551-108399 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22(a)(1)) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
Name: | us-gaap_DebtInstrumentInterestRateEffectivePercentage
Namespace Prefix: | us-gaap_
Data Type: | num:percentItemType
Balance Type: | na
Period Type: | instant

X
- Definition Contractual interest rate for funds borrowed, under the debt agreement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22(a)(1)) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
Name: | us-gaap_DebtInstrumentInterestRateStatedPercentage
Namespace Prefix: | us-gaap_
Data Type: | num:percentItemType
Balance Type: | na
Period Type: | instant

X
- Definition Amount, after accumulated amortization, of debt issuance costs. Includes, but is not limited to, legal, accounting, underwriting, printing, and registration costs. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.17) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=119993939&loc=d3e28555-108399 + Details
Name: | us-gaap_DeferredFinanceCostsNet
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- References No definition available. + Details
Name: | us-gaap_FinancialInstrumentsFinancialLiabilitiesBalanceSheetGroupingsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Amount after unamortized (discount) premium and debt issuance costs of long-term debt classified as noncurrent and excluding amounts to be repaid within one year or the normal operating cycle, if longer. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
Name: | us-gaap_LongTermDebtNoncurrent
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Details
Name: | us-gaap_DebtInstrumentAxis=nbr_SeniorNotes5.00PercentageDueTwoZeroTwoZeroMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DebtInstrumentAxis=nbr_SeniorNotes4.625PercentageDueTwoZeroTwoOneMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DebtInstrumentAxis=nbr_SeniorNotes5.50PercentageDueTwoZeroTwoThreeMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DebtInstrumentAxis=nbr_SeniorNotes5.10PercentageDueTwoZeroTwoThreeMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DebtInstrumentAxis=nbr_SeniorNotes0.75PercentageDueTwoZeroTwoFourMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DebtInstrumentAxis=nbr_SeniorNotes5.75PercentageDueTwoZeroTwoFiveMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DebtInstrumentAxis=nbr_SeniorNotes6.50PercentageDueTwoZeroTwoFiveMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DebtInstrumentAxis=nbr_SeniorPreferredNotes9.00PercentageDueTwoZeroTwoFiveMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DebtInstrumentAxis=nbr_SeniorNotes7.25PercentageDueTwoZeroTwoSixMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DebtInstrumentAxis=nbr_SeniorNotes7.50PercentageDueTwoZeroTwoEightMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DebtInstrumentAxis=nbr_RevolvingCreditFacility2012Member
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DebtInstrumentAxis=nbr_RevolvingCreditFacility2018Member
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FairValueByMeasurementBasisAxis=us-gaap_EstimateOfFairValueFairValueDisclosureMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FairValueByMeasurementBasisAxis=us-gaap_CarryingReportedAmountFairValueDisclosureMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |