Segment Information (Tables)

9 Months Ended

Sep. 30, 2018

Segment Information

Financial information with respect to operating segments

		Three Months Ended				Nine Months Ended
		September 30,				September 30,
		2018		2017		2018		2017
	(In thousands)
Operating revenues:
U.S. Drilling		$	273,996	$	222,747	$	779,393	$	572,025
Canada Drilling			26,645		18,073		75,974		63,002
International Drilling			377,125		374,106		1,123,956		1,092,667
Drilling Solutions			60,923		37,506		183,430		96,700
Rig Technologies			63,641		50,032		209,631		155,293
Other reconciling items (1)			(22,905)		(40,361)		(96,845)		(123,679)
Total		$	779,425	$	662,103	$	2,275,539	$	1,856,008

		Three Months Ended				Nine Months Ended
		September 30,				September 30,
		2018		2017		2018		2017
	(In thousands)
Adjusted operating income (loss): (2)
U.S. Drilling		$	2,578	$	(53,536)	$	(30,275)	$	(172,797)
Canada Drilling			(1,895)		(7,494)		(7,095)		(16,519)
International Drilling			25,680		32,316		74,702		80,464
Drilling Solutions			9,506		5,864		25,773		8,658
Rig Technologies			(4,141)		(10,535)		(20,550)		(23,706)
Total segment adjusted operating income (loss)		$	31,728	$	(33,385)	$	42,555	$	(123,900)

		Three Months Ended				Nine Months Ended
		September 30,				September 30,
		2018		2017		2018		2017
	(In thousands)
Reconciliation of segment adjusted operating income (loss) to net income (loss) from continuing operations before income taxes:
Total segment adjusted operating income (loss) (2)		$	31,728	$	(33,385)	$	42,555	$	(123,900)
Other reconciling items (3)			(39,285)		(40,820)		(125,725)		(123,531)
Earnings (losses) from unconsolidated affiliates			—		4		1		6
Investment income (loss)			(1,342)		373		(4,041)		208
Interest expense			(51,415)		(54,607)		(173,393)		(165,813)
Other, net			(22,907)		(5,559)		(114,597)		(29,173)
Income (loss) from continuing operations before income taxes		$	(83,221)	$	(133,994)	$	(375,200)	$	(442,203)

	September 30,		December 31,
	2018		2017
	(In thousands)
Total assets:
U.S. Drilling	$	3,078,789	$	3,203,560
Canada Drilling		318,653		347,773
International Drilling		3,225,052		3,540,829
Drilling Solutions		229,984		182,162
Rig Technologies		429,546		459,665
Other reconciling items (3)		678,523		667,995
Total	$	7,960,547	$	8,401,984

(1) Represents the elimination of inter-segment transactions.

(2) Adjusted operating income (loss) represents income (loss) from continuing operations before income taxes, interest expense, earnings (losses) from unconsolidated affiliates, investment income (loss) and other, net. Management evaluates the performance of our operating segments using adjusted operating income (loss), which is a segment performance measure, because it believes that this financial measure reflects our ongoing profitability and performance. In addition, securities analysts and investors use this measure as one of the metrics on which they analyze our performance. A reconciliation to income (loss) from continuing operations before income taxes is provided in the above table.

(3) Represents the elimination of inter-segment transactions and unallocated corporate expenses, assets and capital expenditures.