XML 47 R34.htm IDEA: XBRL DOCUMENT
v3.22.4

Share-Based Compensation (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2022
Share-Based Compensation |
Schedule of stock option transactions | Stock option transactions under our various stock-based employee compensation plans are presented below: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | Weighted- | ​ | ​ | ​ |
​ | ​ | ​ | ​ | Weighted- | ​ | Average | ​ | ​ | ​ |
​ | ​ | ​ | ​ | Average | ​ | Remaining | ​ | Aggregate |
​ | ​ | ​ | ​ | Exercise | ​ | Contractual | ​ | Intrinsic |
Options |  | Shares |  | Price |  | Term |  | Value |
​ | ​ | (In thousands, except exercise price and term) |
Options outstanding as of December 31, 2021 |  | 16 | ​ | $ | 419.22 | ​ | ​ | ​ | ​ | ​ | ​ | ​
Granted |  | 1 | ​ |  | 147.66 | ​ | ​ | ​ | ​ | ​ | ​ | ​
Expired |  | (1) | ​ |  | 734.90 | ​ | ​ | ​ | ​ | ​ | ​ | ​
Options outstanding as of December 31, 2022 |  | 16 | ​ | $ | 391.76 |  | 4.91 | years | ​ | $ | 211 | ​
Options exercisable as of December 31, 2022 |  | 16 | ​ | $ | 391.76 |  | 4.91 | years | ​ | $ | 211 | ​
​
Schedule of valuation assumptions used to estimate the fair value of stock options | The fair value of stock options granted during 2022 and 2021 was calculated using the Black-Scholes option pricing model and the following weighted-average assumptions: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2022 |  | 2021 |
Weighted average fair value of options granted | ​ | $ | 111.23 | ​ | $ | 72.69 | ​
Weighted average risk free interest rate | ​ |  | 3.69% | ​ |  | 0.72% | ​
Dividend yield | ​ |  | 0.00% | ​ |  | 0.00% | ​
Volatility (1) | ​ |  | 111.50% | ​ |  | 102.50% | ​
Expected life (in years) | ​ |  | 4.0 | ​ |  | 4.0 | ​
(1) | Expected volatilities are based on implied volatilities from publicly traded options to purchase Nabors’ common shares, historical volatility of Nabors’ common shares and other factors.
​
Schedule of changes in unvested restricted stock | A summary of our restricted shares as of December 31, 2022, and the changes during the year then ended, is presented below: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ |  | Weighted-Average |
​ | ​ | ​ | ​ | Grant-Date Fair |
Restricted shares | ​ | Outstanding | ​ | Value |
​ | ​ | (In thousands, except fair value) |
Unvested as of December 31, 2021 |  | 102 | ​ | $ | 127.00 | ​
Granted |  | 112 | ​ |  | 132.30 | ​
Vested |  | (45) | ​ |  | 142.59 | ​
Forfeited | ​ | (6) | ​ | ​ | 120.59 | ​
Unvested as of December 31, 2022 |  | 163 | ​ | $ | 126.26 | ​
​
Performance based restricted shares |
Share-Based Compensation |
Schedule of changes in restricted shares | The following table sets forth information regarding outstanding restricted shares based on performance conditions as of December 31, 2022: ​
​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ |  | Weighted-Average
​ | ​ | ​ | ​ | Grant-Date Fair
Performance based restricted shares | ​ | Outstanding | ​ | Value
​ | ​ | (In thousands, except fair value)
Outstanding as of December 31, 2021 | ​ | 56 | ​ | $ | 150.02
Vested |  | (36) |  | ​ | 151.13
Outstanding as of December 31, 2022 |  | 20 | ​ | $ | 148.00
​
Performance based restricted stock units |
Share-Based Compensation |
Schedule of changes in restricted shares | The following table sets forth information regarding outstanding PSUs based on performance conditions as of December 31, 2022: ​
​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ |  | Weighted-Average
​ | ​ | ​ | ​ | Grant-Date Fair
Restricted Stock Units | ​ | Outstanding | ​ | Value
​ | ​ | (In thousands, except fair value)
Outstanding as of December 31, 2021 | ​ | 107 | ​ | $ | 94.26
Granted |  | 49 |  | ​ | 81.09
Vested |  | (43) |  | ​ | 102.94
Outstanding as of December 31, 2022 |  | 113 | ​ | $ | 85.31
​
Restricted shares based on market conditions |
Share-Based Compensation |
Schedule of valuation assumptions used to estimate the fair value of restricted stock | The grant date fair value of these awards was based on a Monte Carlo model, using the following assumptions: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | Year Ended December 31, | ​
​ | ​ | 2022 |  | 2021 |  | 2020 |
​ |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Risk free interest rate | ​ | ​ | 1.03% | ​ | ​ | 0.18% | ​ | ​ | 1.57% | ​
Expected volatility | ​ | ​ | 92.00% | ​ | ​ | 108.00% | ​ | ​ | 74.00% | ​
Closing stock price at grant date | ​ | $ | 81.09 | ​ | $ | 60.62 | ​ | $ | 148.00 | ​
Expected term (in years) | ​ | ​ | 3.0 | ​ | ​ | 3.0 | ​ |  | 3.0 | ​
​
Schedule of changes in restricted shares | The following table sets forth information regarding outstanding restricted shares based on market conditions as of December 31, 2022: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ |  | Weighted-Average |
​ | ​ | ​ | ​ | Grant-Date Fair |
Market based restricted shares | ​ | Outstanding | ​ | Value |
​ | ​ | (In thousands, except fair value) |
Outstanding as of December 31, 2021 | ​ | 85 | ​ | $ | 55.29 |
Granted |  | 48 |  | ​ | 49 | ​
Outstanding as of December 31, 2022 |  | 133 | ​ | $ | 53.03 | ​
​

X
- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of restricted stock, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References No definition available. + Details
Name: | nbr_ScheduleOfShareBasedPaymentAwardRestrictedStockValuationAssumptionsTableTextBlock
Namespace Prefix: | nbr_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year. + References No definition available. + Details
Name: | us-gaap_ScheduleOfSharebasedCompensationRestrictedStockAndRestrictedStockUnitsActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the change in restricted stock units (RSUs). + References No definition available. + Details
Name: | us-gaap_ScheduleOfUnvestedRestrictedStockUnitsRollForwardTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References No definition available. + Details
Name: | us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | us-gaap_AwardTypeAxis=nbr_RestrictedStockBasedOnPerformanceConditionsMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_AwardTypeAxis=nbr_RestrictedStockUnitsBasedOnPerformanceConditionsMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_AwardTypeAxis=nbr_RestrictedStockBasedOnMarketConditionsMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |