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v3.20.4

Debt (Details) | 1 Months Ended | 12 Months Ended |  |  |  |  |
--- | --- | --- | --- | --- | --- | --- | ---
Jan. 31, 2021 USD ($) | Sep. 30, 2020 USD ($) | Jan. 31, 2017 USD ($) $ / shares | Dec. 31, 2020 USD ($) $ / shares | Dec. 31, 2019 USD ($) | Dec. 31, 2018 USD ($) | Dec. 30, 2020 USD ($) | Oct. 31, 2020 | Jan. 31, 2020 USD ($) | Dec. 13, 2019 USD ($) | Oct. 11, 2018 USD ($)
Debt |  |  |  |  |  |  |  |  |  |  |
Long-term Debt |  |  |  | $ 2,990,971,000 | $ 3,363,552,000 |  |  |  |  |  |
Less: deferred financing costs |  |  |  | 22,270,000 | 30,332,000 |  |  |  |  |  |
Long-term debt |  |  |  | 2,968,701,000 | 3,333,220,000 |  |  |  |  |  |
Principal amount redeemed | $ 23,000,000.0 |  |  | 952,900,000 |  |  |  |  |  |  |
Repayment of long-term debt | 15,100,000 |  |  | 1,394,043,000 | 455,360,000 | $ 878,278,000 |  |  |  |  |
Gain (Loss) on debt repurchase |  |  |  | 69,200,000 | 11,500,000 | (5,300,000) |  |  |  |  |
Deferred finance costs |  |  |  | $ 22,270,000 | 30,332,000 |  |  |  |  |  |
Guarantor Subsidiaries |  |  |  |  |  |  |  |  |  |  |
Debt |  |  |  |  |  |  |  |  |  |  |
Redemption price of debt instrument (as a percent) |  |  |  | 100.00% |  |  |  |  |  |  |
Redemption price of principal amount of debt instrument including accrued and unpaid interest (as a percent) |  |  |  | 101.00% |  |  |  |  |  |  |
5.00% senior notes due September 2020 |  |  |  |  |  |  |  |  |  |  |
Debt |  |  |  |  |  |  |  |  |  |  |
Senior Notes |  |  |  |  | 282,046,000 |  |  |  |  |  |
Interest rate on senior notes due (as a percent) |  |  |  | 5.00% |  |  |  |  |  |  |
4.625% senior notes due September 2021 |  |  |  |  |  |  |  |  |  |  |
Debt |  |  |  |  |  |  |  |  |  |  |
Senior Notes |  |  |  | $ 86,329,000 | 634,588,000 |  |  |  |  |  |
Interest rate on senior notes due (as a percent) |  |  |  | 4.625% |  |  |  |  |  |  |
Repayment of long-term debt including accrued and unpaid interest |  |  |  | $ 379,700,000 |  |  |  |  |  |  |
5.50% senior notes due January 2023 |  |  |  |  |  |  |  |  |  |  |
Debt |  |  |  |  |  |  |  |  |  |  |
Senior Notes |  |  |  | $ 28,443,000 | 501,003,000 |  |  |  |  |  |
Interest rate on senior notes due (as a percent) |  |  |  | 5.50% |  |  |  |  |  |  |
Repayment of long-term debt including accrued and unpaid interest |  |  |  | $ 407,700,000 |  |  |  |  |  |  |
5.10% senior notes due September 2023 |  |  |  |  |  |  |  |  |  |  |
Debt |  |  |  |  |  |  |  |  |  |  |
Senior Notes |  |  |  | $ 121,077,000 | 336,810,000 |  |  |  |  |  |
Interest rate on senior notes due (as a percent) |  |  |  | 5.10% |  |  |  |  |  |  |
Repayment of long-term debt including accrued and unpaid interest |  |  |  | $ 165,500,000 |  |  |  |  |  |  |
0.75% senior exchangeable notes due January 2024 |  |  |  |  |  |  |  |  |  |  |
Debt |  |  |  |  |  |  |  |  |  |  |
Senior Notes |  |  |  | $ 279,700,000 | 472,603,000 |  |  |  |  |  |
Interest rate on senior notes due (as a percent) |  |  | 0.75% | 0.75% |  |  |  |  |  |  |
5.75% senior notes due February 2025 |  |  |  |  |  |  |  |  |  |  |
Debt |  |  |  |  |  |  |  |  |  |  |
Senior Notes |  |  |  | $ 610,818,000 | 781,502,000 |  |  |  |  |  |
Interest rate on senior notes due (as a percent) |  |  |  | 5.75% |  |  |  |  |  |  |
6.50% senior priority guaranteed notes due February 2025 |  |  |  |  |  |  |  |  |  |  |
Debt |  |  |  |  |  |  |  |  |  |  |
Senior Notes |  |  |  | $ 50,485,000 |  |  |  |  |  |  |
Interest rate on senior notes due (as a percent) |  |  |  | 6.50% |  |  |  | 6.50% |  |  |
9.00% senior priority guaranteed notes due February 2025 |  |  |  |  |  |  |  |  |  |  |
Debt |  |  |  |  |  |  |  |  |  |  |
Senior Notes |  |  |  | $ 192,032,000 |  |  |  |  |  |  |
Interest rate on senior notes due (as a percent) |  |  |  | 9.00% |  |  |  | 9.00% |  |  |
7.25% senior guaranteed notes due January 2026 |  |  |  |  |  |  |  |  |  |  |
Debt |  |  |  |  |  |  |  |  |  |  |
Senior Notes |  |  |  | $ 559,978,000 |  |  |  |  |  |  |
Interest rate on senior notes due (as a percent) |  |  |  | 7.25% |  |  |  |  |  |  |
7.50% senior guaranteed notes due January 2028 |  |  |  |  |  |  |  |  |  |  |
Debt |  |  |  |  |  |  |  |  |  |  |
Senior Notes |  |  |  | $ 389,609,000 |  |  |  |  |  |  |
Interest rate on senior notes due (as a percent) |  |  |  | 7.50% |  |  |  |  |  |  |
7.25% senior notes due January 2026 |  |  |  |  |  |  |  |  |  |  |
Debt |  |  |  |  |  |  |  |  |  |  |
Senior Notes |  |  |  |  |  |  |  |  | $ 600,000,000.0 |  |
Interest rate on senior notes due (as a percent) |  |  |  | 7.25% |  |  |  |  | 7.25% |  |
7.50% senior notes due January 2028 |  |  |  |  |  |  |  |  |  |  |
Debt |  |  |  |  |  |  |  |  |  |  |
Senior Notes |  |  |  |  |  |  |  |  | $ 400,000,000.0 |  |
Interest rate on senior notes due (as a percent) |  |  |  | 7.50% |  |  |  |  | 7.50% |  |
2012 revolving credit facility |  |  |  |  |  |  |  |  |  |  |
Debt |  |  |  |  |  |  |  |  |  |  |
Revolving credit facility |  |  |  |  | 355,000,000 |  |  |  |  |  |
2018 revolving credit facility |  |  |  |  |  |  |  |  |  |  |
Debt |  |  |  |  |  |  |  |  |  |  |
Interest rate on senior notes due (as a percent) |  |  |  |  |  |  |  |  |  |  | 5.50%
Revolving credit facility |  |  |  | $ 672,500,000 |  |  |  |  |  |  |
Maximum borrowing capacity |  |  |  |  |  |  |  |  |  | $ 1,013,600.0000 | $ 1,267,000,000
Weighted average interest rate (as a percent) |  |  |  | 3.53% |  |  |  |  |  |  |
Debt instrument, covenant, minimum liquidity, amount |  | $ 160,000,000.0 |  |  |  |  |  |  |  |  |
Debt covenant threshold amount added to restricted cash and cash equivalents for minimum liquidity |  | 75,000,000 |  |  |  |  |  |  |  |  |
Debt covenant threshold percentage |  | $ 75 |  |  |  |  |  |  |  |  |
Collateralized assets, net value |  |  |  | $ 1,300,000,000 |  |  |  |  |  |  |
2018 revolving credit facility | Maximum |  |  |  |  |  |  |  |  |  |  |
Debt |  |  |  |  |  |  |  |  |  |  |
Debt to EBITDA ratio |  | 5.5 |  |  |  |  |  |  |  | 5.5 |
2018 revolving credit facility | Guarantor Subsidiaries | Minimum |  |  |  |  |  |  |  |  |  |  |
Debt |  |  |  |  |  |  |  |  |  |  |
Debt instrument, guarantor coverage ratio |  | 4.25 |  |  |  |  |  |  |  |  |
2018 revolving credit facility | Nabors Delaware |  |  |  |  |  |  |  |  |  |  |
Debt |  |  |  |  |  |  |  |  |  |  |
Maximum borrowing capacity |  |  |  |  |  |  |  |  |  | $ 981,600,000 |
2018 revolving credit facility | Nabors Canada |  |  |  |  |  |  |  |  |  |  |
Debt |  |  |  |  |  |  |  |  |  |  |
Maximum borrowing capacity |  |  |  |  |  |  |  |  |  | $ 32,000,000.0 |
Senior Notes. |  |  |  |  |  |  |  |  |  |  |
Debt |  |  |  |  |  |  |  |  |  |  |
Principal amount redeemed |  |  |  | 372,000,000.0 | 468,300,000 | 873,000,000.0 |  |  |  |  |
Repayment of long-term debt |  |  |  | 300,900,000 | $ 461,100,000 | $ 906,500,000 |  |  |  |  |
Tender Offer |  |  |  |  |  |  |  |  |  |  |
Debt |  |  |  |  |  |  |  |  |  |  |
Gain (Loss) on debt repurchase |  |  |  | 2,700,000 |  |  |  |  |  |  |
Debt Exchange Transactions |  |  |  |  |  |  |  |  |  |  |
Debt |  |  |  |  |  |  |  |  |  |  |
Future contractual interest payments |  |  |  | 71,600,000 |  |  |  |  |  |  |
Aggregate amount of principal exchanged |  |  |  | 526,823,000 |  |  |  |  |  |  |
Aggregate principal amount of debt issued in exchanges |  |  |  | 242,517,000 |  |  |  |  |  |  |
Aggregated net gain (loss) |  |  |  | $ 161,808,000 |  |  |  |  |  |  |
Per share amount of the aggregate gain | $ / shares |  |  |  | $ 19.30 |  |  |  |  |  |  |
Debt Exchange Transactions | 4.625% senior notes due September 2021 |  |  |  |  |  |  |  |  |  |  |
Debt |  |  |  |  |  |  |  |  |  |  |
Aggregate amount of principal exchanged |  |  |  | $ 38,209,000 |  |  |  |  |  |  |
Debt Exchange Transactions | 5.50% senior notes due January 2023 |  |  |  |  |  |  |  |  |  |  |
Debt |  |  |  |  |  |  |  |  |  |  |
Aggregate amount of principal exchanged |  |  |  | 3,733,000 |  |  |  |  |  |  |
Debt Exchange Transactions | 5.10% senior notes due September 2023 |  |  |  |  |  |  |  |  |  |  |
Debt |  |  |  |  |  |  |  |  |  |  |
Aggregate amount of principal exchanged |  |  |  | 19,422,000 |  |  |  |  |  |  |
Debt Exchange Transactions | 0.75% senior exchangeable notes due January 2024 |  |  |  |  |  |  |  |  |  |  |
Debt |  |  |  |  |  |  |  |  |  |  |
Long-term Debt |  |  |  | $ 324,300,000 |  |  |  |  |  |  |
Aggregate amount of senior notes |  |  | $ 575,000,000.0 |  |  |  |  |  |  |  |
Interest rate on senior notes due (as a percent) |  |  | 0.75% | 0.75% |  |  |  |  |  |  |
Debt exchangeable notes |  |  | $ 411,200,000 |  |  |  |  |  |  |  |
Equity component |  |  | $ 163,800,000 |  |  |  |  |  |  |  |
Exchange rate of common shares |  |  | 0.795 |  |  |  |  |  |  |  |
Principal amount of notes |  |  | $ 1,000 |  |  |  |  |  |  |  |
Exchange price per common share (in dollars per share) | $ / shares |  |  | $ 1,257.81 |  |  |  |  |  |  |  |
Aggregate amount of principal exchanged |  |  |  | $ 250,678,000 |  |  | $ 115,000,000.0 |  |  |  |
Debt Exchange Transactions | 0.75% senior exchangeable notes due January 2024 | Nabors Delaware |  |  |  |  |  |  |  |  |  |  |
Debt |  |  |  |  |  |  |  |  |  |  |
Aggregate amount of senior notes | $ 35,000,000.0 |  |  |  |  |  |  |  |  |  |
Interest rate on senior notes due (as a percent) | 0.75% |  |  |  |  |  |  |  |  |  |
Debt Exchange Transactions | 5.75% senior notes due February 2025 |  |  |  |  |  |  |  |  |  |  |
Debt |  |  |  |  |  |  |  |  |  |  |
Aggregate amount of principal exchanged |  |  |  | 164,368,000 |  |  |  |  |  |  |
Debt Exchange Transactions | 5.75% senior notes due February 2025 | Nabors Delaware |  |  |  |  |  |  |  |  |  |  |
Debt |  |  |  |  |  |  |  |  |  |  |
Aggregate amount of senior notes | $ 5,000,000.0 |  |  |  |  |  |  |  |  |  |
Interest rate on senior notes due (as a percent) | 5.75% |  |  |  |  |  |  |  |  |  |
Debt Exchange Transactions | 6.50% senior priority guaranteed notes due February 2025 |  |  |  |  |  |  |  |  |  |  |
Debt |  |  |  |  |  |  |  |  |  |  |
Aggregate amount of senior notes |  |  |  | $ 50,500,000 |  |  |  |  |  |  |
Interest rate on senior notes due (as a percent) |  |  |  | 6.50% |  |  |  |  |  |  |
Debt Exchange Transactions | 9.00% senior priority guaranteed notes due February 2025 |  |  |  |  |  |  |  |  |  |  |
Debt |  |  |  |  |  |  |  |  |  |  |
Aggregate amount of senior notes |  |  |  | $ 192,000,000.0 |  |  |  |  |  |  |
Interest rate on senior notes due (as a percent) |  |  |  | 9.00% |  |  |  |  |  |  |
Debt Exchange Transactions | 9.00% senior priority guaranteed notes due February 2025 | Nabors Delaware |  |  |  |  |  |  |  |  |  |  |
Debt |  |  |  |  |  |  |  |  |  |  |
Interest rate on senior notes due (as a percent) | 9.00% |  |  |  |  |  |  |  |  |  |
Aggregate amount of principal exchanged | $ 26,050,000.00 |  |  |  |  |  |  |  |  |  |
Debt Exchange Transactions | 7.25% senior guaranteed notes due January 2026 |  |  |  |  |  |  |  |  |  |  |
Debt |  |  |  |  |  |  |  |  |  |  |
Aggregate amount of principal exchanged |  |  |  | $ 40,022,000 |  |  |  |  |  |  |
Debt Exchange Transactions | 7.50% senior guaranteed notes due January 2028 |  |  |  |  |  |  |  |  |  |  |
Debt |  |  |  |  |  |  |  |  |  |  |
Aggregate amount of principal exchanged |  |  |  | 10,391,000 |  |  |  |  |  |  |
Debt Exchange Transactions | Various Senior Notes |  |  |  |  |  |  |  |  |  |  |
Debt |  |  |  |  |  |  |  |  |  |  |
Aggregate amount of principal exchanged |  |  |  | 411,800,000 |  |  |  |  |  |  |
Gains Losses on Extinguishment of Debt, Exchange Transactions |  |  |  |  |  |  |  |  |  |  |
Debt |  |  |  |  |  |  |  |  |  |  |
Gain (Loss) on debt repurchase |  |  |  | $ 161,800,000 |  |  |  |  |  |  |

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- Definition It represents the increased the Guarantor Coverage ratio. + References No definition available. + Details
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- Definition Represents the denomination of the principal amount of debt that is used in conversion calculations. + References No definition available. + Details
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- Definition Represents the redemption price of the debt instrument as a percentage of the principal amount and accrued and unpaid interest. + References No definition available. + Details
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- Definition Debt covenant threshold percentage of aggregate amount of unrestricted cash and cash equivalents held in deposit account of a commercial bank outside of the U.S or Canada which is added to the aggregate amount of unrestricted cash and cash equivalents to meet minimum liquidity. + References No definition available. + Details
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- Definition The amount of debt issued in exchange under debt restructuring. + References No definition available. + Details
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- Definition The cash outflow for debt initially having maturity due after one year or beyond the normal operating cycle, if longer, plus accrued and unpaid interest. + References No definition available. + Details
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- 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
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- Definition Percentage price of original principal amount of debt at which debt can be redeemed by the issuer. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 470 -Section 50 -Paragraph 3 -Subparagraph e -URI http://asc.fasb.org/extlink&oid=75038535&loc=d3e64711-112823 + Details
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- Definition Face (par) amount of the original debt instrument that was repurchased. + References No definition available. + Details
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- Definition Weighted average interest rate of debt outstanding. + References No definition available. + Details
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- 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
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- Definition For a debtor, the aggregate gain (loss) recognized on the restructuring of payables arises from the difference between the book value of the debt before the restructuring and the fair value of the payments on the debt after restructuring is complete. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 60 -Section 50 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=6402221&loc=d3e15743-112638 + Details
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- Definition The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the 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)) -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 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(16)) -URI http://asc.fasb.org/extlink&oid=120398452&loc=d3e534808-122878 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(16)) -URI http://asc.fasb.org/extlink&oid=120400017&loc=d3e572229-122910 + Details
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- Definition Amount, after unamortized (discount) premium and debt issuance costs, of long-term debt. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 4 -Subparagraph (b)(3) -URI http://asc.fasb.org/extlink&oid=120520924&loc=SL6031897-161870 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(a)(16)) -URI http://asc.fasb.org/extlink&oid=120400017&loc=d3e572229-122910 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(16)) -URI http://asc.fasb.org/extlink&oid=120398452&loc=d3e534808-122878 Reference 4: 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
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