	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2015			2014			2015			2014
	(In thousands)
Operating revenues and Earnings (losses) from unconsolidated affiliates: (1)

Drilling & Rig Services:
U.S.	$	259,939		$	571,736		$	1,034,929		$	1,615,106
Canada	29,929			80,491			109,182			246,973
International	516,180			427,558			1,413,886			1,191,520
Rig Services (2)	73,521			191,437			318,204			502,509

Subtotal Drilling & Rig Services	879,569			1,271,222			2,876,201			3,556,108
Completion & Production Services:
Completion Services	—			352,018			207,860			856,329
Production Services	—			259,863			158,512			793,641

Subtotal Completion & Production Services	—			611,881			366,372			1,649,970

Other reconciling items (3)	(32,016		)	(69,341		)	(117,008		)	(185,717		)

Total operating revenues	847,553			1,813,762			3,125,565			5,020,361

Earnings (losses) from unconsolidated affiliates (4)	(35,100		)	(2,851		)	(29,714		)	(5,872		)

Total	$	812,453		$	1,810,911		$	3,095,851		$	5,014,489

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2015			2014			2015			2014
	(In thousands)
Adjusted income (loss) derived from operating activities: (1) (5)

Drilling & Rig Services:
U.S.	$	(14,034	)	$	117,212		$	94,449		$	279,683
Canada	(4,085		)	11,517			(5,995		)	37,902
International	74,039			68,452			262,335			167,154
Rig Services (2)	(10,434		)	21,136			864			38,923

Subtotal Drilling & Rig Services (6)	45,486			218,317			351,653			523,662
Completion & Production Services:
Completion Services	—			14,211			(55,243		)	(20,005		)
Production Services	—			21,182			(3,296		)	81,662

Subtotal Completion & Production Services (7)	—			35,393			(58,539		)	61,657
Other reconciling items (8)	(37,962		)	(50,333		)	(122,162		)	(139,441		)

Total adjusted income (loss) derived from operating activities	$	7,524		$	203,377		$	170,952		$	445,878


Equity investment earnings (losses) (9)	(35,100		)	—			(35,900		)	—
Interest expense	(44,448		)	(43,138		)	(135,518		)	(134,251		)
Investment income (loss)	(22		)	2,189			2,128			10,235
Gains (losses) on sales and disposals of long-lived assets and other income (expense), net	(259,731		)	1,513			(205,227		)	(16,467		)

Income (loss) from continuing operations before income taxes	(331,777		)	163,941			(203,565		)	305,395


Income tax expense (benefit)	(80,898		)	61,511			(35,158		)	86,275
Subsidiary preferred stock dividend	—			—			—			1,984

Income (loss) from continuing operations, net of tax	(250,879		)	102,430			(168,407		)	217,136
Income (loss) from discontinued operations, net of tax	(45,275		)	4,005			(41,067		)	4,488

Net income (loss)	(296,154		)	106,435			(209,474		)	221,624
Less: Net (income) loss attributable to noncontrolling interest	320			(387		)	453			(1,213		)

Net income (loss) attributable to Nabors	$	(295,834	)	$	106,048		$	(209,021	)	$	220,411

	September 30,		December 31,
	2015		2014
	(In thousands)
Total assets:
Drilling & Rig Services:
U.S.	$	3,782,339	$	4,184,854
Canada	406,014		615,269
International	4,319,955		3,815,051
Rig Services	472,739		549,622

Subtotal Drilling & Rig Services (10)	8,981,047		9,164,796
Completion & Production Services (11)	—		1,933,387
All other (12)	459,632		—
Other reconciling items (8)	488,502		781,759

Total assets:	$	9,929,181	$	11,879,942

(1)

All periods present the operating activities of most of our wholly owned oil and gas businesses as discontinued operations.

(2)

Includes our other services comprised of our drilling technology and top drive manufacturing, directional drilling, rig instrumentation and software services.

(3)

Represents the elimination of inter-segment transactions.

(4)

Represents our share of the net income (loss) of our unconsolidated affiliates accounted for by the equity method inclusive of $(35.1) million and $(35.9) million for the three months and nine months ended September 30, 2015, respectively, related to our share of the net loss of C&J Energy Services, Ltd., which we report on a one-quarter lag.

(5)

Adjusted income (loss) derived from operating activities is computed by subtracting the sum of direct costs, general and administrative expenses, depreciation and amortization and earnings (losses) from our equity method investment in CJES from the sum of Operating revenues and Earnings (losses) from unconsolidated affiliates. These amounts should not be used as a substitute for the amounts reported in accordance with GAAP. However, management evaluates the performance of our business units and the consolidated company based on several criteria, including adjusted income (loss) derived from operating activities, because it believes that these financial measures accurately reflect our ongoing profitability. A reconciliation of this non-GAAP measure to income (loss) from continuing operations before income taxes, which is a GAAP measure, is provided in the above table.

(6)

Includes earnings (losses), net from unconsolidated affiliates, accounted for using the equity method, of $(2.9) million for the three months ended September 30, 2014 and $5.9 million and $(6.1) million for the nine months ended September 30, 2015 and 2014, respectively.

(7)

Includes earnings (losses), net from unconsolidated affiliates, accounted for using the equity method, of $0.3 million and $0.2 million for the nine months ended September 30, 2015 and 2014, respectively.

(8)

Represents the elimination of inter-segment transactions and unallocated corporate expenses, assets and capital expenditures.

(9)

Represents our share of the net income (loss) of CJES.

(10)

Includes $0.9 million and $48.1 million of investments in unconsolidated affiliates accounted for using the equity method as of September 30, 2015 and December 31, 2014, respectively.

(11)

Reflects assets historically allocated to the Completion & Production Services line of business. Includes $10.2 million of investments in unconsolidated affiliates accounted for using the equity method as of December 31, 2014. These investments were included in the Completion & Production Service business line that was merged with C&J Energy in March 2015.

(12)

Includes $460.5 million of investments in unconsolidated affiliates accounted for using the equity method as of September 30, 2015, including our investment in CJES.