Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2015

Summary of Significant Accounting Policies

Inventory

	December 31,
	2015		2014
	(In thousands)
Raw materials	$	105,217	$	121,921
Work-in-progress	29,710		43,781
Finished goods	18,897		64,365
	$	153,824	$	230,067

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			December 31,
	2013		Adjustments			Impairments			Adjustment			2014
	(In thousands)
Drilling & Rig Services:
U.S.	$	50,149	$	—		$	—		$	—		$	50,149
International	—		—			—			—			—
Rig Services	37,261		17,268		(1)	(21,613		)(2)	(1,249		)	31,667
Subtotal Drilling & Rig Services	87,410		17,268			(21,613		)	(1,249		)	81,816
Completion & Production Services
Completion	334,992		—			(334,992		)(2)	—			—
Production	90,562		1,550			—			—			92,112
Subtotal Completion & Production Services	425,554		1,550			(334,992		)	—			92,112
Total	$	512,964	$	18,818		$	(356,605	)	$	(1,249	)	$	173,928

			Acquisitions
			and
	Balance at		Purchase			Disposals			Cumulative			Balance at
	December 31,		Price			and			Translation			December 31,
	2014		Adjustments			Impairments			Adjustment			2015
	(In thousands)
Drilling & Rig Services:
U.S.	$	50,149	$	—		$	—		$	—		$	50,149
International	—		75,634		(3)	—			—			75,634
Rig Services	31,667		10,868		(1)	—			(1,659		)	40,876
Subtotal Drilling & Rig Services	81,816		86,502			—			(1,659		)	166,659
Completion & Production Services
Completion	—		—			—			—			—
Production	92,112		—			(92,112		)(4)	—			—
Subtotal Completion & Production Services	92,112		—			(92,112		)	—			—
Total	$	173,928	$	86,502		$	(92,112	)	$	(1,659	)	$	166,659

(1) Represents the goodwill recorded in connection with our acquisition of 2TD. See Note 5—Acquisitions for additional discussion.

(2) Represents an impairment to the goodwill initially recorded in connection with the acquisitions of NES and Superior in prior years. These impairment charges were deemed necessary due to the continued deterioration of oil prices. See Note 3—Impairments and Other Charges.

(3) Represents the goodwill recorded in connection with our acquisition of Nabors Arabia. See Note 5—Acquisitions for additional discussion.

(4) Represents the goodwill associated with the Completion & Production Services business that was merged with CJES. See Note 9—Investments in unconsolidated affiliates for additional discussion.