Earnings (Losses) Per Share (Tables)

9 Months Ended

Sep. 30, 2012

Earnings (Losses) Per Share

Earnings (losses) per share computations

	Three Months EndedSeptember 30,						Nine Months Ended September 30,
	2012			2011			2012		2011
	(In thousands, except per share amounts)
Net income (loss) (numerator):
Income (loss) from continuing operations, net of tax	$	65,818		$	87,190		$	109,783	$	252,629
Less: net (income) loss attributable to noncontrolling interest	(988		)	(708		)	453		355
Adjusted income (loss) from continuing operations, net of tax — basic	64,830			86,482			110,236		252,984
Add: interest expense on assumed conversion of our 0.94% senior exchangeable notes, net of tax (1)	—			—			—		—
Adjusted net income (loss) from continuing operations, net of tax — diluted	64,830			86,482			110,236		252,984
Income (loss) from discontinued operations, net of tax	10,826			(12,226		)	26,721		96,545
Adjusted net income (loss) attributable to Nabors	75,656			74,256			136,957		349,529
Earnings (losses) per share:
Basic from continuing operations	$	.22		$	.30		$	.38	$	.88
Basic from discontinued operations	.04			(.04		)	.09		.34
Total Basic	$	.26		$	.26		$	.47	$	1.22
Diluted from continuing operations	$	.22		$	.30		$	.38	$	.86
Diluted from discontinued operations	.04			(.05		)	.09		.33
Total Diluted	$	.26		$	.25		$	.47	$	1.19
Shares (denominator):
Weighted-average number of shares outstanding — basic	290,367			287,487			289,822		286,971
Net effect of dilutive stock options, warrants and restricted stock awards based on the if-converted method	2,134			4,499			2,468		6,020
Assumed conversion of our 0.94% senior exchangeable notes due 2011 (1)	—			—			—		—
Weighted-average number of shares outstanding — diluted	292,501			291,986			292,290		292,991

(1)At maturity in May 2011, we redeemed the remaining aggregate principal amount of $1.4 billion of our 0.94% senior exchangeable notes. Prior to maturity, we had purchased $1.4 billion par value of these notes in the open market for cash of $1.2 billion.