Property, Plant and Equipment (Tables)

12 Months Ended

Dec. 31, 2025

Property, Plant and Equipment

Schedule of major components of 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.