Property, Plant and Equipment

12 Months Ended

Dec. 31, 2025

Property, Plant and Equipment

Property, Plant and Equipment

Note 7 Property, Plant and Equipment

The major components of our property, plant and equipment are as follows:

	December 31,
	2025		2024
	(In thousands)
Land	$	27,541	$	31,529
Buildings		172,458		158,518
Drilling rigs and related equipment		12,561,048		12,084,276
Oilfield hauling and mobile equipment		227,386		228,730
Other machinery and equipment		259,822		252,369
	$	13,248,255	$	12,755,422
Less: accumulated depreciation and amortization		(10,328,236)		(9,924,465)
	$	2,920,019	$	2,830,957

Depreciation expense included in depreciation and amortization expense in our consolidated statements of income (loss) totaled $648.8 million, $632.9 million and $644.9 million during 2025, 2024 and 2023, respectively.

Repair and maintenance expense included in direct costs in our consolidated statements of income (loss) totaled $207.7 million, $199.2 million and $228.2 million during 2025, 2024 and 2023, respectively.