Earnings (Losses) Per Share (Tables)

12 Months Ended

Dec. 31, 2011

Earnings (Losses) Per Share [Abstract]

Earnings (losses) per share computations

	Year Ended December 31,
	2011			2010			2009
	(In thousands, except per share amounts)
Net income (loss) (numerator):
Income (loss) from continuing operations, net of tax	$	342,164		$	255,870		$	132,721
Less: net (income) loss attributable to noncontrolling interest		(1,045	)		(85	)		342
Net income (loss) from continuing operations — basic		341,119			255,785			133,063
Add interest expense on assumed conversion of our 0.94% senior exchangeable notes, net of tax(1)		—			—			—
Adjusted net income (loss) attributable to Nabors — diluted	$	341,119		$	255,785		$	133,063
Earnings (losses) per share:
Basic from continuing operations	$	1.19		$	.90		$	.47
Diluted from continuing operations	$	1.17		$	.88		$	.46
Income from discontinued operations, net of tax	$	(97,440	)	$	(161,090	)	$	(218,609	)
Earnings (losses) per share, discontinued operations:
Basic from discontinued operations	$	(.34	)	$	(.57	)	$	(.77	)
Diluted from discontinued operations	$	(.34	)	$	(.55	)	$	(.76	)
Shares (denominator):
Weighted-average number of shares outstanding — basic(2)		287,118			285,145			283,326
Net effect of dilutive stock options, warrants and restricted stock awards based on the if-converted method		5,366			4,851			3,176
Assumed conversion of our 0.94% senior exchangeable notes(1)		—			—			—
Weighted-average number of shares outstanding — diluted		292,484			289,996			286,502

(1) At maturity in May 2011, we redeemed the remaining aggregate principal amount of $1.4 billion of our 0.94% senior exchangeable notes. Prior to maturity, we had purchased $1.4 billion par value of these notes in the open market for cash of $1.2 billion. Diluted earnings (losses) per share for the years ended December 31, 2010 and 2009 exclude any incremental shares that would have been issuable upon exchange of these notes based on a calculation using our stock price. Our stock price did not exceed the threshold during any period for the years ended December 31, 2010 and 2009.

(2) On July 31, 2009, the exchangeable shares of Nabors Exchangeco were exchanged for Nabors’ common shares on a one-for-one basis. Basic shares outstanding includes the following weighted-average number of common shares and restricted stock of Nabors and weighted-average number of exchangeable shares of Nabors Exchangeco, respectively: 287.1 million shares for the year ended December 31, 2011; 285.1 million shares for the year ended December 31, 2010; and 283.3 million shares for the year ended December 31, 2009.