XML 66 R48.htm IDEA: XBRL DOCUMENT v3.25.4
Revenue Recognition (Tables)
12 Months Ended
Dec. 31, 2025
Revenue Recognition  
Schedule of revenue, disaggregated by geographical region

In the following table, revenue is disaggregated by geographical region. The table also includes a reconciliation of the disaggregated revenue with the reportable segments:

Year Ended

December 31, 2025

U.S. Drilling

International Drilling

Drilling Solutions

Rig Technologies

Other

Total

(In thousands)

Lower 48

$

745,162

$

$

256,203

$

73,723

$

$

1,075,088

U.S. Offshore

 

113,979

 

 

9,357

 

 

123,336

Alaska

 

117,503

 

 

7,967

 

4

 

125,474

Canada

 

 

46,696

 

2,142

 

6,287

 

55,125

Middle East & Asia

 

 

1,060,497

 

122,474

 

68,528

 

1,251,499

Latin America

 

 

372,967

 

88,185

 

4,110

 

465,262

Europe, Africa & CIS

 

 

117,605

 

26,955

 

1,384

 

145,944

Eliminations & other

 

(57,035)

 

(57,035)

Total

$

976,644

$

1,597,765

$

513,283

$

154,036

$

(57,035)

$

3,184,693

Year Ended

December 31, 2024

U.S. Drilling

International Drilling

Drilling Solutions

Rig Technologies

Other

Total

(In thousands)

Lower 48

$

872,432

$

$

172,832

$

83,313

$

$

1,128,577

U.S. Offshore

 

107,253

 

 

9,943

 

 

117,196

Alaska

 

48,437

 

 

2,447

 

 

50,884

Canada

 

 

 

1,847

 

6,331

 

8,178

Middle East & Asia

 

 

1,002,350

 

51,222

 

91,344

 

1,144,916

Latin America

 

 

360,092

 

74,225

 

14,310

 

448,627

Europe, Africa & CIS

 

 

83,650

 

1,555

 

6,379

 

91,584

Eliminations & other

 

(59,836)

 

(59,836)

Total

$

1,028,122

$

1,446,092

$

314,071

$

201,677

$

(59,836)

$

2,930,126

Year Ended

December 31, 2023

U.S. Drilling

International Drilling

Drilling Solutions

Rig Technologies

Other

Total

(In thousands)

Lower 48

$

1,052,274

$

$

196,252

$

121,958

$

$

1,370,484

U.S. Offshore

 

118,218

 

 

11,147

 

 

129,365

Alaska

 

37,137

 

 

1,733

 

 

38,870

Canada

 

 

 

1,522

 

7,270

 

8,792

Middle East & Asia

 

 

943,285

 

44,896

 

93,032

 

1,081,213

Latin America

 

 

341,470

 

44,422

 

11,162

 

397,054

Europe, Africa & CIS

 

 

60,494

 

1,785

 

9,346

 

71,625

Eliminations & other

 

(91,422)

 

(91,422)

Total

$

1,207,629

$

1,345,249

$

301,757

$

242,768

$

(91,422)

$

3,005,981

Summary of receivables, contract assets, current and long-term contract liabilities

The opening and closing balances of our receivables, contract assets and current and long-term contract liabilities are as follows:

Contract

Contract

Contract

Contract

Contract

Assets

Assets

Liabilities

Liabilities

  ​ ​ ​

Receivables

  ​ ​ ​

(Current)

  ​ ​ ​

(Long-term)

  ​ ​ ​

(Current)

  ​ ​ ​

(Long-term)

(In thousands)

As of December 31, 2024

$

433,562

$

17,510

$

9,742

$

24,002

$

13,424

As of December 31, 2025

$

446,310

$

19,335

$

12,053

$

41,927

$

28,646