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Condensed Consolidating Financial Information (Tables)
 12 Months Ended
Dec. 31, 2013
Condensed Consolidating Financial Information  
Condensed Consolidating Balance Sheets

 

 

 
   December 31, 2013  
 
   Nabors
(Parent/
Guarantor)		   Nabors
Delaware
(Issuer/
Guarantor)		   Other
Subsidiaries
(Non-
Guarantors)		   Consolidating
Adjustments		   Total  
 
   (In thousands)
  

 

     ASSETS  

Current assets:

                                

Cash

   $ 730   $ 7,029   $ 382,156   $ —   $ 389,915  

Short-term investments

     —     —     117,218     —     117,218  

Assets held for sale

     —     —     243,264     —     243,264  

Accounts receivable, net

     27     —     1,399,516     —     1,399,543  

Inventory

     —     —     209,793     —     209,793  

Deferred income taxes

     —     —     121,316     —     121,316  

Other current assets

     50     26,378     246,353     —     272,781  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total current assets

     807     33,407     2,719,616     —     2,753,830  

Long-term investments

     —     —     3,236     —     3,236  

Property, plant and equipment, net

     —     33,815     8,563,998     —     8,597,813  

Goodwill

     —     —     512,964     —     512,964  

Intercompany receivables

     160,136     3,891     1,583,539     (1,747,566 )   —  

Investment in unconsolidated affiliates

     5,808,606     6,097,337     1,854,111     (13,695,794 )   64,260  

Other long-term assets

     —     34,487     193,221     —     227,708  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total assets

   $ 5,969,549   $ 6,202,937   $ 15,430,685   $ (15,443,360 ) $ 12,159,811  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

 

     LIABILITIES AND EQUITY  

Current liabilities:

                                

Current debt

   $ —   $ —   $ 10,185   $ —   $ 10,185  

Trade accounts payable

     86     25     545,401     —     545,512  

Accrued liabilities

     378     65,947     630,768     —     697,093  

Income taxes payable

     —     —     58,634     —     58,634  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total current liabilities

     464     65,972     1,244,988     —     1,311,424  

Long-term debt

     —     3,904,059     58     —     3,904,117  

Other long-term liabilities

     —     31,071     346,673     —     377,744  

Deferred income taxes

     —     (213,233 )   729,394     —     516,161  

Intercompany payable

     —     1,747,566     —     (1,747,566 )   —  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total liabilities

     464     5,535,435     2,321,113     (1,747,566 )   6,109,446  

Subsidiary preferred stock

     —     —     69,188     —     69,188  

Shareholders' equity

     5,969,085     667,502     13,028,293     (13,695,794 )   5,969,086  

Noncontrolling interest

     —     —     12,091     —     12,091  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total equity

     5,969,085     667,502     13,040,384     (13,695,794 )   5,981,177  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total liabilities and equity

   $ 5,969,549   $ 6,202,937   $ 15,430,685   $ (15,443,360 ) $ 12,159,811  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

 

 
   December 31, 2012  
 
   Nabors
(Parent/
Guarantor)		   Nabors
Delaware
(Issuer/
Guarantor)		   Other
Subsidiaries
(Non-
Guarantors)		   Consolidating
Adjustments		   Total  
 
   (In thousands)
  

 

     ASSETS  

Current assets:

                                

Cash

   $ 1,639   $ 106,778   $ 416,505   $ —   $ 524,922  

Short-term investments

     —     —     253,282     —     253,282  

Assets held for sale

     —     —     383,857     —     383,857  

Accounts receivable, net

     —     —     1,382,623     —     1,382,623  

Inventory

     —     —     251,133     —     251,133  

Deferred income taxes

     —     —     110,480     —     110,480  

Other current assets

     50     —     226,510     —     226,560  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total current assets

     1,689     106,778     3,024,390     —     3,132,857  

Long-term investments

     —     —     4,269     —     4,269  

Property, plant and equipment, net

     —     37,300     8,674,788     —     8,712,088  

Goodwill

     —     —     472,326     —     472,326  

Intercompany receivables

     174,948     1,690,636     670,404     (2,535,988 )   —  

Investment in unconsolidated affiliates

     5,769,518     5,129,458     395,246     (11,232,532 )   61,690  

Other long-term assets

     —     31,904     240,888     —     272,792  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total assets

   $ 5,946,155   $ 6,996,076   $ 13,482,311   $ (13,768,520 ) $ 12,656,022  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

 

     LIABILITIES AND EQUITY  

Current liabilities:

                                

Current debt

   $ —   $ —   $ 364   $ —   $ 364  

Trade accounts payable

     116     23     498,871     —     499,010  

Accrued liabilities

     1,110     91,520     506,750     —     599,380  

Income taxes payable

     —     —     33,628     —     33,628  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total current liabilities

     1,226     91,543     1,039,613     —     1,132,382  

Long-term debt

     —     4,379,263     73     —     4,379,336  

Other long-term liabilities

     —     30,983     487,681     —     518,664  

Deferred income taxes

     —     (24,906 )   624,241     —     599,335  

Intercompany payable

     —     2,535,988     —     (2,535,988 )   —  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total liabilities

     1,226     7,012,871     2,151,608     (2,535,988 )   6,629,717  

Subsidiary preferred stock

     —     —     69,188     —     69,188  

Shareholders' equity

     5,944,929     (16,795 )   11,249,327     (11,232,532 )   5,944,929  

Noncontrolling interest

     —     —     12,188     —     12,188  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total equity

     5,944,929     (16,795 )   11,261,515     (11,232,532 )   5,957,117  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total liabilities and equity

   $ 5,946,155   $ 6,996,076   $ 13,482,311   $ (13,768,520 ) $ 12,656,022  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Condensed Consolidating Statements of Income (Loss)

 

 
   Year Ended December 31, 2013  
 
   Nabors
(Parent/
Guarantor)		   Nabors
Delaware
(Issuer/
Guarantor)		   Other
Subsidiaries
(Non-
Guarantors)		   Consolidating
Adjustments		   Total  
 
   (In thousands)
  

Revenues and other income:

                                

Operating revenues

   $ —   $ —   $ 6,152,015   $ —   $ 6,152,015  

Earnings from unconsolidated affiliates

     —     —     39     —     39  

Earnings (losses) from consolidated affiliates

     158,445     191,821     (92,137 )   (258,129 )   —  

Investment income (loss)

     1     75     101,047     (4,546 )   96,577  

Intercompany interest income

     —     92     —     (92 )   —  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total revenues and other income

     158,446     191,988     6,160,964     (262,767 )   6,248,631  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Costs and other deductions:

                                

Direct costs

     —     —     3,981,828     —     3,981,828  

General and administrative expenses

     11,111     796     514,000     (577 )   525,330  

Depreciation and amortization

     —     3,610     1,083,067     —     1,086,677  

Interest expense

     —     234,512     (11,094 )   —     223,418  

Losses (gains) on sales and disposals of long-lived assets and other expense (income), net

     7,353     211,976     (181,929 )   577     37,977  

Impairments and other charges

                 287,241           287,241  

Intercompany interest espense

     —     —     92     (92 )   —  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total costs and other deductions

     18,464     450,894     5,673,205     (92 )   6,142,471  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Income from continuing operations before income taxes

     139,982     (258,906 )   487,759     (262,675 )   106,160  

Income tax expense (benefit)

     —     (166,769 )   111,588     —     (55,181 )

Subsidiary preferred stock dividend

     —     —     3,000     —     3,000  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Income (loss) from continuing operations, net of tax

     139,982     (92,137 )   373,171     (262,675 )   158,341  

Income (loss) from discontinued operations, net of tax

     —     —     (11,179 )   —     (11,179 )
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Net income (loss)

     139,982     (92,137 )   361,992     (262,675 )   147,162  

Less: Net (income) loss attributable to noncontrolling interest

     —     —     (7,180 )   —     (7,180 )
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Net income (loss) attributable to Nabors

   $ 139,982   $ (92,137 ) $ 354,812   $ (262,675 ) $ 139,982  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

 

 
   Year Ended December 31, 2012  
 
   Nabors (Parent/
Guarantor)		   Nabors Delaware
(Issuer/
Guarantor)		   Other
Subsidiaries
(Non-
Guarantors)		   Consolidating
Adjustments		   Total  
 
   Revised
   Revised
   Revised
   Revised
   Revised
  
 
   (In thousands)
  

Revenues and other income:

                                

Operating revenues

   $ —   $ —   $ 6,843,051   $ —   $ 6,843,051  

Earnings from unconsolidated affiliates

     —     —     (288,718 )   —     (288,718 )

Earnings (losses) from consolidated affiliates

     173,199     (99,048 )   (206,413 )   132,262     —  

Investment income (loss)

     —     43     63,094     —     63,137  

Intercompany interest income

     —     69,145     —     (69,145 )   —  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total revenues and other income

     173,199     (29,860 )   6,411,014     63,117     6,617,470  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Costs and other deductions:

                                

Direct costs

     —     —     4,367,106     —     4,367,106  

General and administrative expenses

     7,141     458     521,962     (1,608 )   527,953  

Depreciation and amortization

     —     3,610     1,036,313     —     1,039,923  

Interest expense

     —     268,904     (17,000 )   —     251,904  

Losses (gains) on sales and disposals of long-lived assets and other expense (income), net

     1,231     (2,451 )   (137,024 )   1,608     (136,636 )

Impairments and other charges

     —     —     290,260     —     290,260  

Intercompany interest expense

     —     —     69,145     (69,145 )   —  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total costs and other deductions

     8,372     270,521     6,130,762     (69,145 )   6,340,510  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Income from continuing operations before income taxes

     164,827     (300,381 )   280,252     132,262     276,960  

Income tax expense (benefit)

     —     (74,493 )   115,479     —     40,986  

Subsidiary preferred stock dividend

     —     —     3,000     —     3,000  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Income (loss) from continuing operations, net of tax

     164,827     (225,888 )   161,773     132,262     232,974  

Income (loss) from discontinued operations, net of tax

     —     —     (67,526 )   —     (67,526 )
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Net income (loss)

     164,827     (225,888 )   94,247     132,262     165,448  

Less: Net (income) loss attributable to noncontrolling interest

     —     —     (621 )   —     (621 )
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Net income (loss) attributable to Nabors

   $ 164,827   $ (225,888 ) $ 93,626   $ 132,262   $ 164,827  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

 

 
   Year Ended December 31, 2011  
 
   Nabors
(Parent/
Guarantor)		   Nabors
Delaware
(Issuer/
Guarantor)		   Other
Subsidiaries
(Non-
Guarantors)		   Consolidating
Adjustments		   Total  
 
   Revised
   Revised
   Revised
   Revised
   Revised
  
 
   (In thousands)
  

Revenues and other income:

                                

Operating revenues

   $ —   $ —   $ 6,013,480   $ —   $ 6,013,480  

Earnings from unconsolidated affiliates

     —     —     85,448     —     85,448  

Earnings (losses) from consolidated affiliates

     261,090     233,028     126,256     (620,374 )   —  

Investment income (loss)

     4     68     19,867     —     19,939  

Intercompany interest income

     —     69,437     —     (69,437 )   —  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total revenues and other income

     261,094     302,533     6,245,051     (689,811 )   6,118,867  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Costs and other deductions:

                                

Direct costs

     —     —     3,738,506     —     3,738,506  

General and administrative expenses

     11,970     348     476,090     (600 )   487,808  

Depreciation and amortization

     —     3,532     914,590     —     918,122  

Interest expense

     —     278,657     (22,025 )   —     256,632  

Losses (gains) on sales and disposals of long-lived assets and other expense (income), net

    
600		    
(1,904
)		  
5,178		    
600		    
4,474		  

Impairments and other charges

     —     —     198,072     —     198,072  

Intercompany interest expense

     —     —     69,437     (69,437 )   —  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total costs and other deductions

     12,570     280,633     5,379,848     (69,437 )   5,603,614  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Income from continuing operations before income taxes

     248,524     21,900     865,203     (620,374 )   515,253  

Income tax expense (benefit)

     —     (78,118 )   243,201     —     165,083  

Subsidiary preferred stock dividend

     —     —     3,000     —     3,000  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Income (loss) from continuing operations, net of tax

     248,524     100,018     619,002     (620,374 )   347,170  

Income (loss) from discontinued operations, net of tax

     —     —     (97,601 )   —     (97,601 )
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Net income (loss)

     248,524     100,018     521,401     (620,374 )   249,569  

Less: Net (income) loss attributable to noncontrolling interest

     —     —     (1,045 )   —     (1,045 )
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Net income (loss) attributable to Nabors

     248,524     100,018     520,356     (620,374 )   248,524  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Condensed Consolidating Statements Of Other Comprehensive Income (Loss)

 

 

 
   Year Ended December 31, 2013  
 
   Nabors
(Parent/
Guarantor)		   Nabors
Delaware
(Issuer/
Guarantor)		   Other
Subsidiaries
(Non-
Guarantors)		   Consolidating
Adjustments		   Total  
 
   (In thousands)
  

Net income (loss) attributable to Nabors

   $ 139,982   $ (92,137 ) $ 354,812   $ (262,675 ) $ 139,982  

Other comprehensive income (loss) before tax

                                

Translation adjustment attributable to Nabors          

     (65,447 )   87     (65,357 )   65,270     (65,447 )

Unrealized gains/(losses) on marketable securities:

                                

Unrealized gains/(losses) on marketable securities

     23,007     98     23,105     (23,203 )   23,007  

Less: reclassification adjustment for (gains)/losses on marketable securities

     (88,158 )   (7,114 )   (95,272 )   102,386     (88,158 )
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Unrealized gains/(losses) on marketable securities

     (65,151 )   (7,016 )   (72,167 )   79,183     (65,151 )

Pension plan

     5,916     5,916     11,832     (17,748 )   5,916  

Unrealized gains/(losses) on cash flow hedges          

     613     613     613     (1,226 )   613  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Other comprehensive income (loss) before tax

     (124,069 )   (400 )   (125,079 )   125,479     (124,069 )

Income tax expense (benefit) related to items of other comprehensive income (loss)               

     (66 )   (66 )   (370 )   436     (66 )
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Other comprehensive income (loss), net of tax

     (124,003 )   (334 )   (124,709 )   125,043     (124,003 )
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Comprehensive income (loss) attributable to Nabors

     15,979     (92,471 )   230,103     (137,632 )   15,979  

Net income (loss) attributable to noncontrolling interest

     7,180     —     7,180     (7,180 )   7,180  

Translation adjustment to noncontrolling interest

     (932 )   —     (932 )   932     (932 )
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Comprehensive income (loss) attributable to noncontrolling interest

     6,248     —     6,248     (6,248 )   6,248  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Comprehensive income (loss)

   $ 22,227   $ (92,471 ) $ 236,351   $ (143,880 ) $ 22,227  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

 

 
   Year Ended December 31, 2012  
 
   Nabors
(Parent/
Guarantor)		   Nabors
Delaware
(Issuer/
Guarantor)		   Other
Subsidiaries
(Non-
Guarantors)		   Consolidating
Adjustments		   Total  
 
   Revised
   Revised
   Revised
   Revised
   Revised
  
 
   (In thousands)
  

Net income (loss) attributable to Nabors

   $ 164,827   $ (225,888 ) $ 93,626   $ 132,262   $ 164,827  

Other comprehensive income (loss) before tax

                                

Translation adjustment attributable to Nabors

     21,073     (88 )   20,987     (20,899 )   21,073  

Unrealized gains/(losses) on marketable securities:

                                

Unrealized gains/(losses) on marketable securities

     98,138     133     98,271     (98,404 )   98,138  

Less: reclassification adjustment for (gains)/losses on marketable securities

     (13,405 )   (11,488 )   (24,893 )   36,381     (13,405 )
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Unrealized gains/(losses) on marketable securities

     84,733     (11,355 )   73,378     (62,023 )   84,733  

Pension plan

     (324 )   (324 )   (648 )   972     (324 )

Unrealized gains/(losses) on cash flow hedges

     702     702     702     (1,404 )   702  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Other comprehensive income (loss) before tax

     106,184     (11,065 )   94,419     (83,354 )   106,184  

Income tax expense (benefit) related to items of other comprehensive income (loss)

     (4,147 )   (4,147 )   (8,533 )   12,680     (4,147 )
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Other comprehensive income (loss), net of tax

     110,331     (6,918 )   102,952     (96,034 )   110,331  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Comprehensive income (loss) attributable to Nabors

     275,158     (232,806 )   196,578     36,228     275,158  

Net income (loss) attributable to noncontrolling interest

     621     —     621     (621 )   621  

Translation adjustment to noncontrolling interest          

     311     —     311     (311 )   311  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Comprehensive income (loss) attributable to noncontrolling interest

     932     —     932     (932 )   932  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Comprehensive income (loss)

   $ 276,090   $ (232,806 ) $ 197,510   $ 35,296   $ 276,090  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

 

 
   Year Ended December 31, 2011  
 
   Nabors
(Parent/
Guarantor)		   Nabors
Delaware
(Issuer/
Guarantor)		   Other
Subsidiaries
(Non-
Guarantors)		   Consolidating
Adjustments		   Total  
 
   Revised
   Revised
   Revised
   Revised
   Revised
  
 
   (In thousands)
  

Net income (loss) attributable to Nabors

   $ 248,524   $ 100,018   $ 520,356   $ (620,374 ) $ 248,524  

Other comprehensive income (loss) before tax

                                

Translation adjustment attributable to Nabors

     (20,257 )   (5,511 )   (25,768 )   31,279     (20,257 )

Unrealized gains/(losses) on marketable securities:

                                

Unrealized gains/(losses) on marketable securities

     5,356     226     5,582     (5,808 )   5,356  

Less: reclassification adjustment for (gains)/losses on marketable securities

     (3,036 )   —     (3,036 )   3,036     (3,036 )
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Unrealized gains/(losses) on marketable securities

     2,320     226     2,546     (2,772 )   2,320  

Pension plan

     (5,391 )   (5,391 )   (10,782 )   16,173     (5,391 )

Unrealized gains/(losses) and amortization of (gains)/losses on cash flow hedges

     763     763     763     (1,526 )   763  

Other comprehensive income (loss) before tax

     (22,565 )   (9,913 )   (33,241 )   43,154     (22,565 )

Income tax expense (benefit) related to items of other comprehensive income (loss)

     (1,777 )   (1,777 )   (3,793 )   5,570     (1,777 )
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Other comprehensive income (loss), net of tax

     (20,788 )   (8,136 )   (29,448 )   37,584     (20,788 )
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Comprehensive income (loss) attributable to Nabors

     227,736     91,882     490,908     (582,790 )   227,736  

Net income (loss) attributable to noncontrolling interest

     1,045     —     1,045     (1,045 )   1,045  

Translation adjustment to noncontrolling interest          

     (185 )   —     (185 )   185     (185 )
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Comprehensive income (loss) attributable to noncontrolling interest

     860     —     860     (860 )   860  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Comprehensive income (loss)

   $ 228,596   $ 91,882   $ 491,768   $ (583,650 ) $ 228,596  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Condensed Consolidating Statements of Cash Flows

 

 

 
   Year Ended December 31, 2013  
 
   Nabors
(Parent/
Guarantor)		   Nabors
Delaware
(Issuer/
Guarantor)		   Other
Subsidiaries
(Non-
Guarantors)		   Consolidating
Adjustments		   Total  
 
   (In thousands)
  

Net cash provided by (used for) operating activities

   $ 16,746   $ (157,952 ) $ 1,531,902   $ 27,527   $ 1,418,223  

Cash flows from investing activities:

                                

Purchases of investments

     —     —     —     —     —  

Sales and maturities of investments

     —     —     164,510     —     164,510  

Proceeds from sale of unconsolidated affiliates           

     —     —     12,640     —     12,640  

Cash paid for acquisition of businesses, net

     —     —     (116,971 )   —     (116,971 )

Investment in unconsolidated affiliates

     —     —     (5,967 )   —     (5,967 )

Capital expenditures

     —     —     (1,178,205 )   —     (1,178,205 )

Proceeds from sales of assets and insurance claims

     —     —     308,538     —     308,538  

Cash paid for investments in consolidated affiliates

     (100 )   (772,000 )   (1,544,000 )   2,316,100     —  

Other

     —     —     (13 )   —     (13 )

Changes in intercompany balances

     —     748,537     (748,537 )   —     —  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Net cash provided by (used for) investing activities

     (100 )   (23,463 )   (3,108,005 )   2,316,100     (815,468 )
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Cash flows from financing activities:

                                

Increase (decrease) in cash overdrafts

     —     —     (4,421 )   —     (4,421 )

Proceeds from issuance of long-term debt

     —     698,434     319     —     698,753  

Debt issuance costs

     —     (4,500 )   —     —     (4,500 )

Proceeds from (payments for) issuance of common shares

     37,455     —     —     (32,072 )   5,383  

Reduction in long-term debt

     —     (994,112 )   (69 )   —     (994,181 )

Dividends to shareholders

     (51,713 )   —     —     4,545     (47,168 )

Proceeds (reductions) in commercial paper, net           

     —     329,844     —     —     329,844  

Reduction in revolving credit facilities

     —     (720,000 )   —     —     (720,000 )

Proceeds from parent contributions

     —     772,000     1,544,100     (2,316,100 )   —  

Other

     (3,296 )   —     10,000     —     6,704  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Net cash (used for) provided by financing activities

     (17,554 )   81,666     1,549,929     (2,343,627 )   (729,586 )

Effect of exchange rate changes on cash and cash equivalents

     —     —     (8,176 )   —     (8,176 )
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Net increase (decrease) in cash and cash equivalents

     (908 )   (99,749 )   (34,350 )   —     (135,007 )

Cash and cash equivalents, beginning of period

     1,639     106,778     416,505     —     524,922  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Cash and cash equivalents, end of period

   $ 731   $ 7,029   $ 382,155   $ —   $ 389,915  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

 

 
   Year Ended December 31, 2012  
 
   Nabors
(Parent/
Guarantor)		   Nabors
Delaware
(Issuer/
Guarantor)		   Other
Subsidiaries
(Non-
Guarantors)		   Consolidating
Adjustments		   Total  
 
   (In thousands)
  

Net cash provided by (used for) operating activities

   $ 7,253   $ 39,708   $ 1,546,250   $ (30,506 ) $ 1,562,705  

Cash flows from investing activities:

                                

Purchases of investments

     —     —     (949 )   —     (949 )

Sales and maturities of investments

     —     —     31,944     —     31,944  

Proceeds from sale of unconsolidated affiliates           

     —     —     159,529     —     159,529  

Cash paid for acquisition of businesses, net

     (35 )   —     —     35     —  

Investment in unconsolidated affiliates

     —     —     (1,325 )   —     (1,325 )

Capital expenditures

     —     —     (1,518,628 )   —     (1,518,628 )

Proceeds from sales of assets and insurance claims

     —     —     149,801     —     149,801  

Changes in intercompany balances

     —     274,482     (274,482 )   —     —  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Net cash provided by (used for) investing activities

     (35 )   274,482     (1,454,110 )   35     (1,179,628 )
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Cash flows from financing activities:

                                

Increase (decrease) in cash overdrafts

     —     —     1,612     —     1,612  

Debt issuance costs

     —     (3,433 )   —     —     (3,433 )

Proceeds from revolving credit facilities

     —     710,000     —     —     710,000  

Proceeds from (payments for) issuance of common shares

     (3,622 )   —     (3 )   —     (3,625 )

Reduction in long-term debt

     —     (224,997 )   (51,261 )   —     (276,258 )

Reduction in revolving credit facilities

     —     (680,000 )   —     —     (680,000 )

Other

     (2,160 )   —     (263 )   —     (2,423 )

Proceeds from parent contributions

     —     —     35     (35 )   —  

Cash dividends paid

     —     (9,003 )   (21,503 )   30,506     —  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Net cash (used for) provided by financing activities

     (5,782 )   (207,433 )   (71,383 )   30,471     (254,127 )

Effect of exchange rate changes on cash and cash equivalents

     —     —     (2,603 )   —     (2,603 )
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Net increase (decrease) in cash and cash equivalents

     1,436     106,757     18,154     —     126,347  

Cash and cash equivalents, beginning of period

     203     21     398,351     —     398,575  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Cash and cash equivalents, end of period

   $ 1,639   $ 106,778   $ 416,505   $ —   $ 524,922  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

 

 
   Year Ended December 31, 2011  
 
   Nabors
(Parent/
Guarantor)		   Nabors
Delaware
(Issuer/
Guarantor)		   Other
Subsidiaries
(Non-
Guarantors)		   Consolidating
Adjustments		   Total  
 
   (In thousands)
  

Net cash provided by (used for) operating activities

   $ 6,612   $ (109,125 ) $ 1,559,000   $ —   $ 1,456,487  

Cash flows from investing activities:

                                

Purchases of investments

     —     —     (11,746 )   —     (11,746 )

Sales and maturities of investments

     —     —     39,063     —     39,063  

Proceeds from sale of unconsolidated affiliate           

     —     —     142,984     —     142,984  

Cash paid for acquisition of businesses, net

     —     —     (55,459 )   —     (55,459 )

Investment in unconsolidated affiliates

     —     —     (112,262 )   —     (112,262 )

Capital expenditures

     —     —     (2,042,617 )   —     (2,042,617 )

Proceeds from sales of assets and insurance claims

     —     —     180,558     —     180,558  

Cash paid for investments in consolidated affiliates

     (26,235 )   (65,000 )   —     91,235     —  

Changes in intercompany balances

     —     77,947     (77,947 )   —     —  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Net cash provided by (used for) investing activities

     (26,235 )   12,947     (1,937,426 )   91,235     (1,859,479 )
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Cash flows from financing activities:

                                

Increase (decrease) in cash overdrafts

     —     —     6,375     —     6,375  

Proceeds from issuance of long-term debt

     —     697,578     —     —     697,578  

Debt issuance costs

     —     (7,141 )   —     —     (7,141 )

Proceeds from revolving credit facilities

     —     1,510,000     50,000     —     1,560,000  

Proceeds from (payments for) issuance of common shares

     11,605     —     —     —     11,605  

Reduction in long-term debt

     —     (1,404,246 )   (35 )   —     (1,404,281 )

Reduction in revolving credit facilities

     —     (700,000 )   —     —     (700,000 )

Proceeds from parent contributions

     —     —     91,235     (91,235 )   —  

Other

     (2,626 )   (12 )   1,747     —     (891 )
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Net cash (used for) provided by financing activities

     8,979     96,179     149,322     (91,235 )   163,245  

Effect of exchange rate changes on cash and cash equivalents

     —     —     (3,380 )   —     (3,380 )
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Net increase (decrease) in cash and cash equivalents

     (10,644 )   1     (232,484 )   —     (243,127 )

Cash and cash equivalents, beginning of period

     10,847     20     630,835     —     641,702  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Cash and cash equivalents, end of period

   $ 203   $ 21   $ 398,351   $ —   $ 398,575  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​