XML 18 R4.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONSOLIDATED STATEMENTS OF INCOME (LOSS) (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
Revenues and other income:        
Operating revenues $ 1,491,586 $ 1,737,114 $ 3,070,231 $ 3,627,540
Earnings (losses) from unconsolidated affiliates 1,360 (134,317) 4,255 (202,986)
Investment income (loss) 14,821 5,368 94,242 25,620
Total revenues and other income 1,507,767 1,608,165 3,168,728 3,450,174
Costs and other deductions:        
Direct costs 999,192 1,123,256 2,025,234 2,308,072
General and administrative expenses 132,612 133,612 265,157 269,958
Depreciation and amortization 270,199 261,016 543,564 508,637
Interest expense 60,271 63,459 120,279 126,113
Losses (gains) on sales and disposals of long-lived assets and other expense (income), net 9,312 160,917 69,119 159,077
Total costs and other deductions 1,471,586 1,742,260 3,023,353 3,371,857
Income (loss) from continuing operations before income taxes 36,181 (134,095) 145,375 78,317
Income tax expense (benefit):        
Current 11,381 34,698 30,210 60,704
Deferred (5,209) (70,890) (12,766) (27,852)
Total income tax expense (benefit) 6,172 (36,192) 17,444 32,852
Subsidiary preferred stock dividend 750 750 1,500 1,500
Income (loss) from continuing operations, net of tax 29,259 (98,653) 126,431 43,965
Income (loss) from discontinued operations, net of tax (28,004) 24,690 (25,958) 15,895
Net income (loss) 1,255 (73,963) 100,473 59,860
Less: Net (income) loss attributable to noncontrolling interest (5,616) 1,174 (5,713) 1,441
Net income (loss) attributable to Nabors $ (4,361) $ (72,789) $ 94,760 $ 61,301
Earnings (losses) per share:        
Basic from continuing operations (in dollars per share) $ 0.08 $ (0.34) $ 0.41 $ 0.16
Basic from discontinued operations (in dollars per share) $ (0.09) $ 0.09 $ (0.09) $ 0.05
Total Basic (in dollars per share) $ (0.01) $ (0.25) $ 0.32 $ 0.21
Diluted from continuing operations (in dollars per share) $ 0.08 $ (0.34) $ 0.41 $ 0.16
Diluted from discontinued operations (in dollars per share) $ (0.09) $ 0.09 $ (0.09) $ 0.05
Total Diluted (in dollars per share) $ (0.01) $ (0.25) $ 0.32 $ 0.21
Weighted-average number of common shares outstanding:        
Basic (in shares) 294,747 290,311 293,217 289,550
Diluted (in shares) 297,119 290,311 295,644 292,185