Summary of Significant Accounting Policies (Tables)

9 Months Ended

Sep. 30, 2013

Summary of Significant Accounting Policies

Inventory

	September 30,		December 31,
	2013		2012
	(In thousands)
Raw materials	$	149,630	$	148,822
Work-in-progress	29,256		45,733
Finished goods	50,608		56,578
	$	229,494	$	251,133

Change in the carrying amount of goodwill for various contract drilling segments and other operating segments

			Acquisitions
			and
	Balance at		Purchase			Disposals			Cumulative			Balance at
	December 31,		Price			and			Translation			September 30,
	2012		Adjustments			Impairments			Adjustment			2013
	(In thousands)
Drilling & Rig Services:
U.S.	$	50,149	$	—		$	—		$	—		$	50,149
Rig Services	32,113		15,828		(1)	(8,000		)(2)	(597		)	39,344
Subtotal Drilling & Rig Services	82,262		15,828			(8,000		)	(597		)	89,493
Completion & Production Services
Completion	334,992		—			—			—			334,992
Production	55,072		—			—			—			55,072
Subtotal Completion & Production Services	390,064		—			—			—			390,064
Total	$	472,326	$	15,828		$	(8,000	)	$	(597	)	$	479,557

(1) Represents the goodwill recorded in connection with our acquisition of Navigate Energy Services, Inc. (“NES”). See Note 11 - Supplemental Information for additional discussion.

(2) Represents the goodwill related to Peak Oilfield Service Company (“Peak”), a wholly owned subsidiary in Alaska, for which the accounting criteria of assets held for sale was met at September 30, 2013.  Accordingly, we reclassified the goodwill and related carrying value of these assets to assets held for sale at September 30, 2013.  See Note 12 — Assets Held for Sale and Discontinued Operations for additional information.