XML 43 R32.htm IDEA: XBRL DOCUMENT
v3.21.2

Segment Information (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2021
Segment Information |
Financial information with respect to operating segments | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | Three Months Ended | ​ | Six Months Ended | ​
​ | ​ |  | June 30, | ​ | June 30, | ​
​ | ​ |  | 2021 |  | 2020 |  | 2021 |  | 2020 |
​ | (In thousands)
Operating revenues: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. Drilling | ​ | ​ | $ | 161,606 | ​ | $ | 173,784 | ​ | $ | 303,905 | ​ | $ | 448,685 | ​
Canada Drilling | ​ | ​ |  | 12,313 | ​ |  | 3,564 | ​ |  | 33,302 | ​ |  | 29,155 | ​
International Drilling | ​ | ​ |  | 255,282 | ​ |  | 301,078 | ​ |  | 502,120 | ​ |  | 638,188 | ​
Drilling Solutions | ​ | ​ |  | 39,111 | ​ |  | 33,129 | ​ |  | 74,817 | ​ |  | 88,513 | ​
Rig Technologies | ​ | ​ |  | 34,552 | ​ |  | 33,582 | ​ |  | 60,300 | ​ |  | 75,732 | ​
Other reconciling items (1) | ​ | ​ |  | (13,531) | ​ |  | (11,206) | ​ |  | (24,600) | ​ |  | (27,978) | ​
Total | ​ | ​ | $ | 489,333 | ​ | $ | 533,931 | ​ | $ | 949,844 | ​ | $ | 1,252,295 | ​
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | Three Months Ended | ​ | Six Months Ended | ​
​ | ​ |  | June 30, | ​ | June 30, | ​
​ | ​ |  | 2021 |  | 2020 |  | 2021 |  | 2020 |
​ | (In thousands)
Adjusted operating income (loss): (2) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. Drilling | ​ | ​ | $ | (20,869) | ​ | $ | (23,395) | ​ | $ | (44,205) | ​ | $ | (30,799) | ​
Canada Drilling | ​ | ​ |  | (2,608) | ​ |  | (5,795) | ​ |  | 1,299 | ​ |  | (5,758) | ​
International Drilling | ​ | ​ |  | (8,439) | ​ |  | 276 | ​ |  | (27,071) | ​ |  | (3,871) | ​
Drilling Solutions | ​ | ​ |  | 6,524 | ​ |  | 1,733 | ​ |  | 11,234 | ​ |  | 12,282 | ​
Rig Technologies | ​ | ​ |  | (692) | ​ |  | (1,492) | ​ |  | (3,261) | ​ |  | (9,643) | ​
Total segment adjusted operating income (loss) | ​ | ​ | $ | (26,084) | ​ | $ | (28,673) | ​ | $ | (62,004) | ​ | $ | (37,789) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | Three Months Ended | ​ | Six Months Ended | ​
​ | ​ |  | June 30, | ​ | June 30, | ​
​ | ​ |  | 2021 |  | 2020 |  | 2021 |  | 2020 |
​ | (In thousands)
Reconciliation of segment adjusted operating income (loss) to net income (loss) from continuing operations before income taxes: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total segment adjusted operating income (loss) (2) | ​ | ​ | $ | (26,084) | ​ | $ | (28,673) | ​ | $ | (62,004) | ​ | $ | (37,789) | ​
Other reconciling items (3) | ​ | ​ |  | (31,369) | ​ |  | (28,622) | ​ |  | (64,995) | ​ |  | (58,838) | ​
Investment income (loss) | ​ | ​ |  | (62) | ​ | ​ | 2,036 | ​ |  | 1,201 | ​ | ​ | (1,162) | ​
Interest expense | ​ | ​ | ​ | (41,714) | ​ | ​ | (51,206) | ​ | ​ | (84,689) | ​ | ​ | (105,928) | ​
Impairments and other charges | ​ | ​ | ​ | (59,868) | ​ | ​ | (57,852) | ​ | ​ | (62,351) | ​ | ​ | (334,286) | ​
Other, net | ​ | ​ | ​ | (6,587) | ​ | ​ | 30,795 | ​ | ​ | (11,450) | ​ | ​ | 47,905 | ​
Income (loss) from continuing operations before income taxes | ​ | ​ | $ | (165,684) | ​ | $ | (133,522) | ​ | $ | (284,288) | ​ | $ | (490,098) | ​
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | June 30, | ​ | December 31, | ​
​ |  | 2021 |  | 2020 |
​ | ​ | (In thousands) |
Total assets: | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. Drilling | ​ | $ | 1,724,672 | ​ | $ | 1,871,008 | ​
Canada Drilling | ​ |  | 109,437 | ​ |  | 174,123 | ​
International Drilling | ​ |  | 2,493,823 | ​ |  | 2,688,912 | ​
Drilling Solutions | ​ |  | 82,705 | ​ |  | 100,278 | ​
Rig Technologies | ​ |  | 208,611 | ​ |  | 225,954 | ​
Other reconciling items (3) | ​ |  | 423,070 | ​ |  | 443,153 | ​
Total | ​ | $ | 5,042,318 | ​ | $ | 5,503,428 | ​
(1) | Represents the elimination of inter-segment transactions related to our Rig Technologies operating segment.
​
(2) | Adjusted operating income (loss) represents income (loss) from continuing operations before income taxes, interest expense, earnings (losses) from unconsolidated affiliates, investment income (loss), impairments and other charges and other, net. Management evaluates the performance of our operating segments using adjusted operating income (loss), which is a segment performance measure, because it believes that this financial measure reflects our ongoing profitability and performance. In addition, securities analysts and investors use this measure as one of the metrics on which they analyze our performance. A reconciliation to income (loss) from continuing operations before income taxes is provided in the above table.
​
(3) | Represents the elimination of inter-segment transactions and unallocated corporate expenses and assets.

X
- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8813-108599 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599 + Details
Name: | us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

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