XML 38 R121.htm IDEA: XBRL DOCUMENT v2.4.0.6
Condensed Consolidating Financial Information (Details 2) (USD $)
12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
Condensed Consolidating Statements Of Cash Flows      
Net cash provided by operating activities $ 1,456,487,000 $ 1,106,984,000 $ 1,616,972,000
Cash flows from investing activities:      
Purchases of investments (11,746,000) (34,147,000) (32,674,000)
Sales and maturities of investments 39,063,000 34,613,000 57,033,000
Cash paid for acquisition of businesses, net (55,459,000) (733,630,000)  
Investment in unconsolidated affiliates (112,262,000) (40,936,000) (125,076,000)
Distribution of proceeds from asset sales of unconsolidated affiliates 142,984,000    
Capital expenditures (2,042,617,000) (930,277,000) (1,093,435,000)
Proceeds from sales of assets and insurance claims 180,558,000 31,072,000 31,375,000
Net cash used for investing activities (1,859,479,000) (1,673,305,000) (1,162,777,000)
Cash flows from financing activities:      
Increase (decrease) in cash overdrafts 6,375,000 (6,298,000) (18,157,000)
Proceeds from long-term debt 697,578,000 696,948,000 1,124,978,000
Debt issuance costs (7,141,000) (8,934,000) (8,832,000)
Payments for (proceeds from) hedge transactions   (5,667,000)  
Proceeds from revolving credit facilities 1,560,000,000 600,000,000  
Proceeds from issuance of common shares 11,605,000 8,201,000 11,249,000
Reduction in long-term debt (1,404,281,000) (398,514,000) (1,081,801,000)
Reduction in revolving credit facilities (700,000,000) (600,000,000)  
Repurchase of equity component of convertible debt (12,000) (4,712,000) (6,586,000)
Settlement of call options and warrants, net 0 1,134,000  
Purchase of restricted stock (2,626,000) (1,935,000) (1,515,000)
Tax benefit related to share-based awards 1,747,000 31,000 37,000
Net cash provided by (used for) financing activities 163,245,000 280,254,000 19,373,000
Effect of exchange rate changes on cash and cash equivalents (3,380,000) (46,000) 12,160,000
Net increase (decrease) in cash and cash equivalents (243,127,000) (286,113,000) 485,728,000
Cash and cash equivalents, beginning of period 641,702,000 927,815,000 442,087,000
Cash and cash equivalents, end of period 398,575,000 641,702,000 927,815,000
Nabors (Parent/Guarantor) [Member]
     
Condensed Consolidating Statements Of Cash Flows      
Net cash provided by operating activities 6,614,000 115,179,000 40,589,000
Cash flows from investing activities:      
Cash paid for investments in consolidated affiliates (26,235,000) (122,300,000) (46,912,000)
Net cash used for investing activities (26,235,000) (122,300,000) (46,912,000)
Cash flows from financing activities:      
Proceeds from issuance of common shares 11,605,000 8,201,000 11,249,000
Purchase of restricted stock (2,626,000) (1,935,000) (1,515,000)
Net cash provided by (used for) financing activities 8,979,000 6,266,000 9,734,000
Effect of exchange rate changes on cash and cash equivalents 0    
Net increase (decrease) in cash and cash equivalents (10,644,000) (855,000) 3,411,000
Cash and cash equivalents, beginning of period 10,847,000 11,702,000 8,291,000
Cash and cash equivalents, end of period 203,000 10,847,000 11,702,000
Nabors Delaware (Issuer/Guarantor) [Member]
     
Condensed Consolidating Statements Of Cash Flows      
Net cash provided by operating activities (31,178,000) 757,345,000 646,645,000
Cash flows from investing activities:      
Cash paid for investments in consolidated affiliates (65,000,000) (1,027,134,000) (900,000,000)
Net cash used for investing activities (65,000,000) (1,027,134,000) (900,000,000)
Cash flows from financing activities:      
Proceeds from long-term debt 697,578,000 696,948,000 1,124,978,000
Debt issuance costs (7,141,000) (8,934,000) (8,832,000)
Payments for (proceeds from) hedge transactions   (5,667,000)  
Proceeds from revolving credit facilities 1,510,000,000 600,000,000  
Reduction in long-term debt (1,404,246,000) (274,095,000) (856,203,000)
Reduction in revolving credit facilities (700,000,000) (600,000,000)  
Repurchase of equity component of convertible debt (12,000) (4,712,000) (6,586,000)
Settlement of call options and warrants, net   1,134,000  
Cash dividends paid   (135,000,000)  
Net cash provided by (used for) financing activities 96,179,000 269,674,000 253,394,000
Effect of exchange rate changes on cash and cash equivalents 0    
Net increase (decrease) in cash and cash equivalents 1,000 (115,000) 39,000
Cash and cash equivalents, beginning of period 20,000 135,000 96,000
Cash and cash equivalents, end of period 21,000 20,000 135,000
Nabors Holdings (Issuer) [Member]
     
Condensed Consolidating Statements Of Cash Flows      
Net cash provided by operating activities 0 0 608,000
Cash flows from investing activities:      
Proceeds from sale of consolidated affiliates     239,421,000
Net cash used for investing activities 0 0 239,421,000
Cash flows from financing activities:      
Intercompany debt     143,859,000
Reduction in long-term debt   0 (225,191,000)
Cash dividends paid   0 (159,956,000)
Net cash provided by (used for) financing activities 0 0 (241,288,000)
Net increase (decrease) in cash and cash equivalents 0 0 (1,259,000)
Cash and cash equivalents, beginning of period 0 0 1,259,000
Cash and cash equivalents, end of period 0 0 0
Other Subsidiaries (Non-Guarantors) [Member]
     
Condensed Consolidating Statements Of Cash Flows      
Net cash provided by operating activities 1,479,357,000 504,460,000 1,089,086,000
Cash flows from investing activities:      
Purchases of investments (11,746,000) (34,147,000) (32,674,000)
Sales and maturities of investments 39,063,000 34,613,000 57,033,000
Cash paid for acquisition of businesses, net (55,459,000) (733,630,000)  
Investment in unconsolidated affiliates (112,262,000) (40,936,000) (125,076,000)
Distribution of proceeds from asset sales of unconsolidated affiliates 142,984,000    
Capital expenditures (2,039,921,000) (930,277,000) (1,093,435,000)
Proceeds from sales of assets and insurance claims 179,558,000 31,072,000 31,375,000
Proceeds from sale of consolidated affiliates     (239,421,000)
Net cash used for investing activities (1,857,783,000) 1,673,305,000 (1,402,198,000)
Cash flows from financing activities:      
Increase (decrease) in cash overdrafts 6,375,000 (6,298,000) (18,157,000)
Proceeds from revolving credit facilities 50,000,000    
Intercompany debt     (143,859,000)
Reduction in long-term debt (35,000) (124,419,000) (407,000)
Tax benefit related to share-based awards 1,747,000 31,000  
Cash dividends paid   (135,000,000)  
Proceeds from parent contributions 91,235,000 1,149,434,000 946,912,000
Net cash provided by (used for) financing activities 149,322,000 883,748,000 784,489,000
Effect of exchange rate changes on cash and cash equivalents (3,380,000) (46,000) 12,160,000
Net increase (decrease) in cash and cash equivalents (232,484,000) (285,143,000) 483,537,000
Cash and cash equivalents, beginning of period 630,835,000 915,978,000 432,441,000
Cash and cash equivalents, end of period 398,351,000 630,835,000 915,978,000
Consolidating Adjustments [Member]
     
Condensed Consolidating Statements Of Cash Flows      
Net cash provided by operating activities 0 (270,000,000) (159,956,000)
Cash flows from investing activities:      
Cash paid for investments in consolidated affiliates 91,235,000 1,149,434,000 946,912,000
Net cash used for investing activities 91,235,000 1,149,434,000 946,912,000
Cash flows from financing activities:      
Cash dividends paid   270,000,000 159,956,000
Proceeds from parent contributions (91,235,000) (1,149,434,000) (946,912,000)
Net cash provided by (used for) financing activities (91,235,000) (879,434,000) (786,956,000)
Cash and cash equivalents, beginning of period 0 0 0
Cash and cash equivalents, end of period $ 0 $ 0 $ 0