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Acquisitions and Dispositions (Tables) | 9 Months Ended
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Sep. 30, 2025
Acquisitions and Dispositions |
Schedule of fair value of assets acquired and liabilities assumed | The table below presents the allocation of the estimated fair value of identifiable assets acquired and liabilities assumed, and the resulting gain on bargain purchase as of the closing date: ​
​ | ​ | ​ | ​ | ​
​ |  | Fair Value |
(In thousands) | ​ | at Acquisition |
Assets: | ​ | ​ | ​ | ​
Cash and cash equivalents | ​ | $ | 84,995 | ​
Accounts receivable | ​ |  | 132,084 | ​
Inventory | ​ |  | 4,576 | ​
Other current assets | ​ |  | 37,664 | ​
Property, plant and equipment | ​ |  | 264,500 | ​
Deferred income taxes | ​ |  | 66,828 | ​
Other assets | ​ |  | 43,910 | ​
Total assets acquired | ​ | ​ | 634,557 | ​
​ | ​ | ​ | ​ | ​
Liabilities: | ​ | ​ | ​ | ​
Trade accounts payable | ​ | $ | 43,774 | ​
Accrued liabilities | ​ | ​ | 66,808 | ​
Income taxes payable | ​ | ​ | 4,027 | ​
Other short-term liabilities | ​ | ​ | 6,462 | ​
Long-term debt | ​ | ​ | 177,755 | ​
Deferred income taxes | ​ | ​ | 2,594 | ​
Other liabilities | ​ | ​ | 36,076 | ​
Total liabilities assumed | ​ | ​ | 337,496 | ​
Net assets acquired | ​ | ​ | 297,061 | ​
Gain on bargain purchase | ​ | ​ | 116,499 | ​
Total consideration transferred | ​ | $ | 180,562 | ​
​
Schedule of selected financial information on a proforma basis | The pro forma condensed combined financial information has been included for comparative purposes and is not necessarily indicative of the results that might have actually occurred had the Parker acquisition taken place on January 1, 2024. Furthermore, the financial information is not intended to be a projection of future results. The following table summarizes our selected financial information on a pro forma basis:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended |  | Nine Months Ended
​ | ​ | September 30, |  | September 30,
​ |  | 2025 |  | 2024 |  | 2025 |  | 2024
​ | ​ | (In thousands)
Operating revenues (1) | ​ | $ | 818,190 | ​ | $ | 874,410 | ​ | $ | 2,490,283 | ​ | $ | 2,659,395
Net income (loss) (2) | ​ |  | 302,466 | ​ |  | (23,815) | ​ |  | 270,034 | ​ |  | 53,737
(1) | Includes operating revenue from Quail Tools of $34.2 million and $154.8 million for the three and nine months ended September 30, 2025 respectively, and $64.4 million and $193.5 million for the three and nine months ended September 30, 2024 respectively.
​
(2) | Net income (loss) for the three and nine months ended September 30, 2025 includes the gain on disposition of Quail Tools of $415.6 million.
​

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