XML 15 R4.htm IDEA: XBRL DOCUMENT v3.25.3
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Operating revenues        
Operating revenues $ 798,017 $ 800,549 $ 2,521,156 $ 2,130,477
Operating costs and expenses        
Depreciation and amortization 147,260 109,879 437,482 287,347
General and administrative 33,301 43,596 103,485 109,226
Merger and integration costs 2,145 69,214 22,367 89,163
(Gain) loss on sale of operating assets, net (6,232) 0 (10,983) (17,357)
Loss on impairment 60,702 0 60,702 0
Total operating costs and expenses 747,617 685,066 2,148,164 1,697,488
Operating income (loss) 50,400 115,483 372,992 432,989
Other income (expense)        
Interest expense, net of amounts capitalized (40,490) (24,951) (120,954) (54,491)
Interest income and other, net 726 2,292 7,275 (10,626)
Income (loss) before income taxes 10,636 92,824 259,313 367,872
Income tax benefit (provision) (31,731) (31,608) (129,233) (16,167)
Net income (loss) $ (21,095) $ 61,216 $ 130,080 $ 351,705
Basic:        
Net income (loss) (in usd per share) $ (0.13) $ 0.41 $ 0.82 $ 2.43
Diluted:        
Net income (loss) (in usd per share) $ (0.13) $ 0.40 $ 0.80 $ 2.37
Contract drilling services        
Operating revenues        
Operating revenues $ 757,405 $ 763,543 $ 2,401,910 $ 2,036,678
Operating costs and expenses        
Cost of services 479,894 434,192 1,444,420 1,159,913
Reimbursables and other        
Operating revenues        
Operating revenues 40,612 37,006 119,246 93,799
Operating costs and expenses        
Cost of services $ 30,547 $ 28,185 $ 90,691 $ 69,196