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Segment Information (Tables) | 3 Months Ended
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Mar. 31, 2024
Segment Information |
Financial information with respect to operating segments | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | Three Months Ended
​ | ​ | ​ | March 31,
​ | ​ |  | 2024 |  | 2023
​ | (In thousands)
Operating revenues: | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. Drilling | ​ | ​ | $ | 271,989 | ​ | $ | 350,652
International Drilling | ​ | ​ |  | 349,359 | ​ |  | 320,048
Drilling Solutions | ​ | ​ |  | 75,574 | ​ |  | 75,043
Rig Technologies | ​ | ​ |  | 50,156 | ​ |  | 58,479
Other reconciling items (1) | ​ | ​ |  | (13,374) | ​ |  | (25,083)
Total | ​ | ​ | $ | 733,704 | ​ | $ | 779,139
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | Three Months Ended
​ | ​ | ​ | March 31,
​ | ​ |  | 2024 |  | 2023
​ | (In thousands)
Adjusted operating income (loss): (2) | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. Drilling | ​ | ​ | $ | 50,529 | ​ | $ | 85,869
International Drilling | ​ | ​ |  | 22,476 | ​ |  | 1,957
Drilling Solutions | ​ | ​ |  | 26,893 | ​ |  | 27,138
Rig Technologies | ​ | ​ |  | 4,209 | ​ |  | 3,694
Total segment adjusted operating income (loss) | ​ | ​ | $ | 104,107 | ​ | $ | 118,658
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | Three Months Ended
​ | ​ | ​ | March 31,
​ | ​ |  | 2024 |  | 2023
​ | (In thousands)
Reconciliation of segment adjusted operating income (loss) to net income (loss): | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net income (loss) | ​ | ​ | $ | (9,002) | ​ | $ | 61,060
Income tax expense (benefit) | ​ | ​ | ​ | 16,044 | ​ | ​ | 23,015
Income (loss) before income taxes | ​ | ​ | ​ | 7,042 | ​ | $ | 84,075
Investment (income) loss | ​ | ​ |  | (10,201) | ​ | ​ | (9,866)
Interest expense | ​ | ​ | ​ | 50,379 | ​ | ​ | 45,141
Other, net | ​ | ​ | ​ | 16,108 | ​ | ​ | (42,375)
Other reconciling items (3) | ​ | ​ |  | 40,779 | ​ |  | 41,683
Total segment adjusted operating income (loss) (2) | ​ | ​ | $ | 104,107 | ​ | $ | 118,658
​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | March 31, | ​ | December 31,
​ |  | 2024 |  | 2023
​ | ​ | (In thousands)
Total assets: | ​ | ​ | ​ | ​ | ​ | ​
U.S. Drilling | ​ | $ | 1,192,528 | ​ | $ | 1,239,765
International Drilling | ​ |  | 2,280,486 | ​ |  | 2,227,308
Drilling Solutions | ​ |  | 78,278 | ​ |  | 78,472
Rig Technologies | ​ |  | 235,320 | ​ |  | 239,167
Other reconciling items (3) | ​ |  | 858,360 | ​ |  | 1,493,253
Total | ​ | $ | 4,644,972 | ​ | $ | 5,277,965
(1) | Represents the elimination of inter-segment transactions related to our Rig Technologies operating segment.
​
(2) | Adjusted operating income (loss) represents income (loss) before income taxes, interest expense, investment income (loss), 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 from net income (loss) is provided in the above table.
​
(3) | Represents the elimination of inter-segment transactions and unallocated corporate expenses and assets.

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- 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 -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482573/350-20-50-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-25 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-30 + Details
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