Condensed Consolidating Financial Information (Tables)

12 Months Ended

Dec. 31, 2011

Condensed Consolidating Financial Information [Abstract]

Condensed Consolidating Balance Sheets

	December 31, 2011
	Nabors (Parent/ Guarantor)		Nabors Delaware (Issuer/ Guarantor)		Nabors Holdings (Issuer)		Other Subsidiaries (Non- Guarantors)		Consolidating Adjustments			Consolidated Total
	(In thousands)
ASSETS
Current assets:
Cash and cash equivalents	$	203	$	21	$	—	$	398,351	$	—		$	398,575
Short-term investments		—		—		—		140,914		—			140,914
Assets held for sale		—		—		—		401,500		—			401,500
Accounts receivable, net		—		—		—		1,576,555		—			1,576,555
Inventory		—		—		—		272,852		—			272,852
Deferred income taxes		—		—		—		127,874		—			127,874
Other current assets		50		671		—		169,323		—			170,044
Total current assets		253		692		—		3,087,369		—			3,088,314
Long-term investments and other receivables		—		—		—		11,124		—			11,124
Property, plant and equipment, net		—		40,792		—		8,589,154		—			8,629,946
Goodwill		—		—		—		501,258		—			501,258
Intercompany receivables		164,760		—		—		537,881		(702,641	)		—
Investment in unconsolidated affiliates		5,429,029		6,084,868		—		1,843,654		(12,986,530	)		371,021
Other long-term assets		—		32,037		—		278,440		—			310,477
Total assets	$	5,594,042	$	6,158,389	$	—	$	14,848,880	$	(13,689,171	)	$	12,912,140
LIABILITIES AND EQUITY
Current liabilities:
Current portion of long-term debt	$	—	$	274,604	$	—	$	722	$	—		$	275,326
Trade accounts payable		42		23		—		782,688		—			782,753
Accrued liabilities		6,185		100,101		—		556,200		—			662,486
Asset held for sale		—		—		—		54,287		—			54,287
Income taxes payable		—				—		27,710		—			27,710
Total current liabilities		6,227		374,728		—		1,421,607		—			1,802,562
Long-term debt		—		4,297,500		—		50,990		—			4,348,490
Asset held for sale		—		—		—		71,375		—			71,375
Other long-term liabilities		—		32,303		—		189,079		—			221,382
Deferred income taxes		—		11,221		—		786,705		—			797,926
Intercompany payable		—		379,400		—		323,241		(702,641	)		—
Total liabilities		6,227		5,095,152		—		2,842,997		(702,641	)		7,241,735
Subsidiary preferred stock		—		—		—		69,188		—			69,188
Shareholders’ equity		5,587,815		1,063,237		—		11,923,293		(12,986,530	)		5,587,815
Noncontrolling interest		—		—		—		13,402		—			13,402
Total equity		5,587,815		1,063,237		—		11,936,695		(12,986,530	)		5,601,217
Total liabilities and equity	$	5,594,042	$	6,158,389	$	—	$	14,848,880	$	(13,689,171	)	$	12,912,140

	December 31, 2010
	Nabors (Parent/ Guarantor)		Nabors Delaware (Issuer/ Guarantor)		Nabors Holdings (Issuer)		Other Subsidiaries (Non- Guarantors)		Consolidating Adjustments			Consolidated Total
	(In thousands)
ASSETS
Current assets:
Cash and cash equivalents	$	10,847	$	20	$	—	$	630,835	$	—		$	641,702
Short-term investments		—		—		—		159,488		—			159,488
Assets held for sale		—		—		—		352,048		—			352,048
Accounts receivable, net		—		—		—		1,116,510		—			1,116,510
Inventory		—		—		—		158,836		—			158,836
Deferred income taxes		—		—		—		31,510		—			31,510
Other current assets		50		16,366		—		136,420		—			152,836
Total current assets		10,897		16,386		—		2,585,647		—			2,612,930
Long-term investments and other receivables		—		—		—		40,300		—			40,300
Property, plant and equipment, net		—		44,270		—		7,771,149		—			7,815,419
Goodwill		—		—		—		494,372		—			494,372
Intercompany receivables		160,250		—		—		322,697		(482,947	)		—
Investment in unconsolidated affiliates		5,160,800		5,814,219		—		1,665,459		(12,372,755	)		267,723
Other long-term assets		—		36,538		—		379,287		—			415,825
Total assets	$	5,331,947	$	5,911,413	$	—	$	13,258,911	$	(12,855,702	)	$	11,646,569
LIABILITIES AND EQUITY
Current liabilities:
Current portion of long-term debt	$	—	$	1,378,178	$	—	$	840	$	—		$	1,379,018
Trade accounts payable		—		—		—		355,282		—			355,282
Accrued liabilities		3,785		89,480		—		301,027		—			394,292
Income taxes payable		—		6,859		—		18,929		—			25,788
Total current liabilities		3,785		1,474,517		—		676,078		—			2,154,380
Long-term debt		—		3,062,291		—		1,835		—			3,064,126
Other long-term liabilities		—		12,787		—		232,978		—			245,765
Deferred income taxes		—		71,815		—		698,432		—			770,247
Intercompany payable		—		301,451		—		181,496		(482,947	)		—
Total liabilities		3,785		4,922,861		—		1,790,819		(482,947	)		6,234,518
Subsidiary preferred stock		—		—		—		69,188		—			69,188
Shareholders’ equity		5,328,162		988,552		—		11,384,203		(12,372,755	)		5,328,162
Noncontrolling interest		—		—		—		14,701		—			14,701
Total equity		5,328,162		988,552		—		11,398,904		(12,372,755	)		5,342,863
Total liabilities and equity	$	5,331,947	$	5,911,413	$	—	$	13,258,911	$	(12,855,702	)	$	11,646,569

Condensed Consolidating Statements of Income (Loss)

	Year Ended December 31, 2011
	Nabors (Parent/ Guarantor)		Nabors Delaware (Issuer/ Guarantor)			Nabors Holdings (Issuer)		Other Subsidiaries (Non- Guarantors)			Consolidating Adjustments			Consolidated Total
	(In thousands)
Revenues and other income:
Operating revenues	$	—	$	—		$	—	$	6,060,351		$	—		$	6,060,351
Earnings (losses) from unconsolidated affiliates		—		—			—		56,647			—			56,647
Earnings (losses) from consolidated affiliates		256,245		214,308			—		107,536			(578,089	)		—
Investment income (loss)		4		68			—		19,868			—			19,940
Intercompany interest income		—		69,437			—		—			(69,437	)		—
Total revenues and other income		256,249		283,813			—		6,244,402			(647,526	)		6,136,938
Costs and other deductions:
Direct costs		—		—			—		3,775,964			—			3,775,964
General and administrative expenses		11,970		348			—		478,174			(600	)		489,892
Depreciation and amortization		—		3,532			—		920,562			—			924,094
Interest expense		—		278,657			—		(22,024	)		—			256,633
Intercompany interest expense		—		—			—		69,437			(69,437	)		—
Losses (gains) on sales and retirements of long-lived assets and other expense (income), net		600		(1,904	)		—		5,218			600			4,514
Impairments and other charges		—		—			—		198,072			—			198,072
Total costs and other deductions		12,570		280,633			—		5,425,403			(69,437	)		5,649,169
Income (loss) from continuing operations before income taxes		243,679		3,180			—		818,999			(578,089	)		487,769
Income tax expense (benefit)		—		(78,118	)		—		220,723			—			142,605
Subsidiary preferred stock dividend		—		—			—		3,000			—			3,000
Income (loss) from continuing operations, net of tax		243,679		81,298			—		595,276			(578,089	)		342,164
Income (loss) from discontinued operations, net of tax		—		—			—		(97,440	)		—			(97,440	)
Net income (loss)		243,679		81,298			—		497,836			(578,089	)		244,724
Less: Net (income) loss attributable to noncontrolling interest		—		—			—		(1,045	)		—			(1,045	)
Net income (loss) attributable to Nabors	$	243,679	$	81,298		$	—	$	496,791		$	(578,089	)	$	243,679

	Year Ended December 31, 2010
	Nabors (Parent/ Guarantor)			Nabors Delaware (Issuer/ Guarantor)			Nabors Holdings (Issuer)		Other Subsidiaries (Non- Guarantors)			Consolidating Adjustments			Consolidated Total
	(In thousands)
Revenues and other income:
Operating revenues	$	—		$	—		$	—	$	4,134,483		$	—		$	4,134,483
Earnings (losses) from unconsolidated affiliates		—			—			—		33,267			—			33,267
Earnings (losses) from consolidated affiliates		68,749			(183,242	)		—		(316,657	)		431,150			—
Investment income (loss)		15			—			—		7,248			—			7,263
Intercompany interest income		—			72,435			—		—			(72,435	)		—
Total revenues and other income		68,764			(110,807	)		—		3,858,341			358,715			4,175,013
Costs and other deductions:
Direct costs		—			—			—		2,400,519			—			2,400,519
General and administrative expenses		9,165			445			—		330,067			(957	)		338,720
Depreciation and amortization		—			3,303			—		757,659			—			760,962
Interest expense		—			283,396			—		(10,684	)		—			272,712
Intercompany interest expense		—			—			—		72,435			(72,435	)		—
Losses (gains) on sales and retirements of long-lived assets and other expense (income), net		(35,096	)		42,504			—		38,873			957			47,238
Impairments and other charges		—			—			—		61,292			—			61,292
Total costs and other deductions		(25,931	)		329,648			—		3,650,161			(72,435	)		3,881,443
Income (loss) from continuing operations before income taxes		94,695			(440,455	)		—		208,180			431,150			293,570
Income tax expense (benefit)		—			(95,168	)		—		132,118			—			36,950
Subsidiary preferred stock dividend		—			—			—		750			—			750
Income (loss) from continuing operations, net of tax		94,695			(345,287	)		—		75,312			431,150			255,870
Income (loss) from discontinued operations, net of tax		—			—			—		(161,090	)		—			(161,090	)
Net income (loss)		94,695			(345,287	)		—		(85,778	)		431,150			94,780
Less: Net (income) loss attributable to noncontrolling interest		—			—			—		(85	)		—			(85	)
Net income (loss) attributable to Nabors	$	94,695		$	(345,287	)	$	—	$	(85,863	)	$	431,150		$	94,695

	Year Ended December 31, 2009
	Nabors (Parent/ Guarantor)			Nabors Delaware (Issuer/ Guarantor)			Nabors Holdings (Issuer)			Other Subsidiaries (Non- Guarantors)			Consolidating Adjustments			Consolidated Total
	(In thousands)
Revenues and other income:
Operating revenues	$	—		$	—		$	—		$	3,662,220		$	—		$	3,662,220
Earnings (losses) from unconsolidated affiliates		—			—			—			(155,432	)		—			(155,432	)
Earnings (losses) from consolidated affiliates		(74,204	)		(316,443	)		(86,751	)		(441,133	)		918,531			—
Investment income (loss)		58			2,357			101			23,006			—			25,522
Intercompany interest income		—			66,150			5,558			—			(71,708	)		—
Total revenues and other income		(74,146	)		(247,936	)		(81,092	)		3,088,661			846,823			3,532,310
Costs and other deductions:
Direct costs		—			—			—			1,981,504			—			1,981,504
General and administrative expenses		28,350			336			1			393,375			(570	)		421,492
Depreciation and amortization		—			3,594			—			660,364			—			663,958
Interest expense		—			288,715			5,634			(28,302	)		—			266,047
Intercompany interest expense		—			—			—			71,708			(71,708	)		—
Losses (gains) on sales and retirements of long-lived assets and other expense (income), net		(16,950	)		4,145			5,069			37,395			(17,677	)		11,982
Impairments and other charges		—			—			—			118,543			—			118,543
Total costs and other deductions		11,400			296,790			10,704			3,234,587			(89,955	)		3,463,526
Income (loss) from continuing operations before income taxes		(85,546	)		(544,726	)		(91,796	)		(145,926	)		936,778			68,784
Income tax expense (benefit)		—			(84,465	)		15,744			4,784			—			(63,937	)
Income (loss) from continuing operations, net of tax		(85,546	)		(460,261	)		(107,540	)		(150,710	)		936,778			132,721
Income (loss) from discontinued operations, net of tax		—			—			—			(218,609	)		—			(218,609	)
Net income (loss)		(85,546	)		(460,261	)		(107,540	)		(369,319	)		936,778			(85,888	)
Less: Net (income) loss attributable to noncontrolling interest		—			—			—			342			—			342
Net income (loss) attributable to Nabors	$	(85,546	)	$	(460,261	)	$	(107,540	)	$	(368,977	)	$	936,778		$	(85,546	)

Condensed Consolidating Statements of Cash Flows

	Year Ended December 31, 2011
	Nabors (Parent/ Guarantor)			Nabors Delaware (Issuer/ Guarantor)			Nabors Holdings (Issuer)		Other Subsidiaries (Non- Guarantors)			Consolidating Adjustments			Consolidated Total
	(In thousands)
Net cash provided by (used for) operating activities	$	6,612		$	(31,178	)	$	—	$	1,481,053		$			$	1,456,487
Cash flows from investing activities:
Purchases of investments		—			—			—		(11,746	)		—			(11,746	)
Sales and maturities of investments		—			—			—		39,063			—			39,063
Cash paid for acquisition of businesses, net		—			—			—		(55,459	)		—			(55,459	)
Investment in unconsolidated affiliates		—			—			—		(112,262	)		—			(112,262	)
Distribution of proceeds from asset sales of unconsolidated affiliates		—			—			—		142,984			—			142,984
Capital expenditures		—			—			—		(2,042,617	)		—			(2,042,617	)
Proceeds from sales of assets and insurance claims		—			—			—		180,558			—			180,558
Cash paid for investments in consolidated affiliates		(26,235	)		(65,000	)		—		—			91,235			—
Net cash provided by (used for) investing activities		(26,235	)		(65,000	)		—		(1,859,479	)		91,235			(1,859,479	)
Cash flows from financing activities:
Increase (decrease) in cash overdrafts		—			—			—		6,375			—			6,375
Proceeds from long-term debt		—			697,578			—		—			—			697,578
Debt issuance costs		—			(7,141	)		—		—			—			(7,141	)
Proceeds from revolving credit facilities		—			1,510,000			—		50,000			—			1,560,000
Proceeds from issuance of common shares		11,605			—			—		—			—			11,605
Reduction in long-term debt		—			(1,404,246	)		—		(35	)		—			(1,404,281	)
Reduction in revolving credit facilities		—			(700,000	)		—		—			—			(700,000	)
Repurchase of equity component of convertible debt		—			(12	)		—		—			—			(12	)
Purchase of restricted stock		(2,626	)		—			—		—			—			(2,626	)
Tax benefit related to share-based awards		—			—			—		1,747			—			1,747
Proceeds from parent contributions		—			—			—		91,235			(91,235	)		—
Net cash (used for) provided by financing activities		8,979			96,179			—		149,322			(91,235	)		163,245
Effect of exchange rate changes on cash and cash equivalents		—			—			—		(3,380	)		—			(3,380	)
Net (decrease) increase in cash and cash equivalents		(10,644	)		1			—		(232,484	)		—			(243,127	)
Cash and cash equivalents, beginning of period		10,847			20			—		630,835			—			641,702
Cash and cash equivalents, end of period	$	203		$	21		$	—	$	398,351		$	—		$	398,575

	Year Ended December 31, 2010
	Nabors (Parent/ Guarantor)			Nabors Delaware (Issuer/ Guarantor)			Nabors Holdings (Issuer)		Other Subsidiaries (Non- Guarantors)			Consolidating Adjustments			Consolidated Total
	(In thousands)
Net cash provided by (used for) operating activities	$	115,179		$	757,345		$	—	$	504,460		$	(270,000	)	$	1,106,984
Cash flows from investing activities:
Purchases of investments		—			—			—		(34,147	)		—			(34,147	)
Sales and maturities of investments		—			—			—		34,613			—			34,613
Cash paid for acquisition of businesses, net		—			—			—		(733,630	)		—			(733,630	)
Investment in unconsolidated affiliates		—			—			—		(40,936	)		—			(40,936	)
Capital expenditures		—			—			—		(930,277	)		—			(930,277	)
Proceeds from sales of assets and insurance claims		—			—			—		31,072			—			31,072
Cash paid for investments in consolidated affiliates		(122,300	)		(1,027,134	)		—		—			1,149,434			—
Net cash provided by (used for) investing activities		(122,300	)		(1,027,134	)		—		(1,673,305	)		1,149,434			(1,673,305	)
Cash flows from financing activities:
Increase (decrease) in cash overdrafts		—			—			—		(6,298	)		—			(6,298	)
Proceeds from long-term debt		—			696,948			—		—			—			696,948
Debt issuance costs		—			(8,934	)		—		—			—			(8,934	)
Payments for hedge transactions		—			(5,667	)		—		—			—			(5,667	)
Proceeds from revolving credit facilities		—			600,000			—		—			—			600,000
Proceeds from issuance of common shares		8,201			—			—		—			—			8,201
Reduction in long-term debt		—			(274,095	)		—		(124,419	)		—			(398,514	)
Reduction in revolving credit facilities		—			(600,000	)		—		—			—			(600,000	)
Repurchase of equity component of convertible debt		—			(4,712	)		—		—			—			(4,712	)
Settlement of call options and warrants, net		—			1,134			—		—			—			1,134
Purchase of restricted stock		(1,935	)		—			—		—			—			(1,935	)
Tax benefit related to share-based awards		—			—			—		31			—			31
Cash dividends paid		—			(135,000	)		—		(135,000	)		270,000			—
Proceeds from parent contributions		—			—			—		1,149,434			(1,149,434	)		—
Net cash (used for) provided by financing activities		6,266			269,674			—		883,748			(879,434	)		280,254
Effect of exchange rate changes on cash and cash equivalents		—			—			—		(46	)		—			(46	)
Net (decrease) increase in cash and cash equivalents		(855	)		(115	)		—		(285,143	)		—			(286,113	)
Cash and cash equivalents, beginning of period		11,702			135			—		915,978			—			927,815
Cash and cash equivalents, end of period	$	10,847		$	20		$	—	$	630,835		$	—		$	641,702

	Year Ended December 31, 2009
	Nabors (Parent/ Guarantor)			Nabors Delaware (Issuer/ Guarantor)			Nabors Holdings (Issuer)			Other Subsidiaries (Non- Guarantors)			Consolidating Adjustments			Consolidated Total
	(In thousands)
Net cash provided by (used for) operating activities	$	40,589		$	646,645		$	608		$	1,089,086		$	(159,956	)	$	1,616,972
Cash flows from investing activities:
Purchases of investments		—			—			—			(32,674	)		—			(32,674	)
Sales and maturities of investments		—			—			—			57,033			—			57,033
Investment in unconsolidated affiliates		—			—			—			(125,076	)		—			(125,076	)
Capital expenditures		—			—			—			(1,093,435	)		—			(1,093,435	)
Proceeds from sales of assets and insurance claims		—			—			—			31,375			—			31,375
Proceeds from sale of consolidated affiliates		—			—			239,421			(239,421	)		—			—
Cash paid for investments in consolidated affiliates		(46,912	)		(900,000	)		—			—			946,912			—
Net cash provided by (used for) investing activities		(46,912	)		(900,000	)		239,421			(1,402,198	)		946,912			(1,162,777	)
Cash flows from financing activities:
Increase (decrease) in cash overdrafts		—			—			—			(18,157	)		—			(18,157	)
Proceeds from long-term debt		—			1,124,978			—			—			—			1,124,978
Debt issuance costs		—			(8,832	)		—			—			—			(8,832	)
Intercompany debt		—			—			143,859			(143,859	)		—			—
Proceeds from issuance of common shares		11,249			—			—			—			—			11,249
Reduction in long-term debt		—			(856,203	)		(225,191	)		(407	)		—			(1,081,801	)
Repurchase of equity component of convertible debt		—			(6,586	)		—			—			—			(6,586	)
Purchase of restricted stock		(1,515	)		—			—			—			—			(1,515	)
Tax benefit related to share-based awards		—			37			—			—			—			37
Cash dividends paid		—			—			(159,956	)		—			159,956			—
Proceeds from parent contributions		—			—			—			946,912			(946,912	)		—
Net cash (used for) provided by financing activities		9,734			253,394			(241,288	)		784,489			(786,956	)		19,373
Effect of exchange rate changes on cash and cash equivalents		—			—			—			12,160			—			12,160
Net (decrease) increase in cash and cash equivalents		3,411			39			(1,259	)		483,537			—			485,728
Cash and cash equivalents, beginning of period		8,291			96			1,259			432,441			—			442,087
Cash and cash equivalents, end of period	$	11,702		$	135		$	—		$	915,978		$	—		$	927,815