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Unaudited Quarterly Financial Information (Tables)
 12 Months Ended
Dec. 31, 2018
Unaudited Quarterly Financial Information  
Unaudited Quarterly Financial Information

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31, 2018

 

 

 

Quarter Ended

 

 

    

March 31,

    

June 30,

    

September 30,

    

December 31,

 

 

 

(In thousands, except per share amounts)

 

Operating revenues

 

$

734,194

 

$

761,920

 

$

779,425

 

$

782,080

 

Income (loss) from continuing operations, net of tax

 

$

(143,587)

 

$

(195,215)

 

$

(93,710)

 

$

(165,551)

 

Income (loss) from discontinued operations, net of tax

 

 

(75)

 

 

(584)

 

 

(13,933)

 

 

(71)

 

Net income (loss)

 

 

(143,662)

 

 

(195,799)

 

 

(107,643)

 

 

(165,622)

 

Less: Net (income) loss attributable to noncontrolling interest

 

 

(539)

 

 

(2,953)

 

 

(6,934)

 

 

(17,796)

 

Net income (loss) attributable to Nabors

 

$

(144,201)

 

$

(198,752)

 

$

(114,577)

 

$

(183,418)

 

Less: Preferred stock dividend

 

 

 —

 

 

(3,680)

 

 

(4,313)

 

 

(4,312)

 

Net income (loss) attributable to Nabors common shareholders

 

$

(144,201)

 

$

(202,432)

 

$

(118,890)

 

$

(187,730)

 

Earnings (losses) per share: (1)

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic from continuing operations

 

$

(0.46)

 

$

(0.61)

 

$

(0.31)

 

$

(0.55)

 

Basic from discontinued operations

 

 

 —

 

 

 —

 

 

(0.04)

 

 

 —

 

Total Basic

 

$

(0.46)

 

$

(0.61)

 

$

(0.35)

 

$

(0.55)

 

Diluted from continuing operations

 

$

(0.46)

 

$

(0.61)

 

$

(0.31)

 

$

(0.55)

 

Diluted from discontinued operations

 

 

 —

 

 

 —

 

 

(0.04)

 

 

 —

 

Total Diluted

 

$

(0.46)

 

$

(0.61)

 

$

(0.35)

 

$

(0.55)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31, 2017

 

 

 

Quarter Ended

 

 

    

March 31,

    

June 30,

    

September 30,

    

December 31,

 

 

 

(In thousands, except per share amounts)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating revenues

 

$

562,550

 

$

631,355

 

$

662,103

 

$

708,277

 

Income (loss) from continuing operations, net of tax

 

$

(147,628)

 

$

(115,476)

 

$

(119,285)

 

$

(114,725)

 

Income (loss) from discontinued operations, net of tax

 

 

(439)

 

 

(15,504)

 

 

(27,134)

 

 

(442)

 

Net income (loss)

 

 

(148,067)

 

 

(130,980)

 

 

(146,419)

 

 

(115,167)

 

Less: Net (income) loss attributable to noncontrolling interest

 

 

(917)

 

 

(1,971)

 

 

(2,113)

 

 

(1,177)

 

Net income (loss) attributable to Nabors

 

$

(148,984)

 

$

(132,951)

 

$

(148,532)

 

$

(116,344)

 

Less: Preferred stock dividend

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

Net income (loss) attributable to Nabors common shareholders

 

$

(148,984)

 

$

(132,951)

 

$

(148,532)

 

$

(116,344)

 

Earnings (losses) per share: (1)

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic from continuing operations

 

$

(0.52)

 

$

(0.41)

 

$

(0.42)

 

$

(0.40)

 

Basic from discontinued operations

 

 

 —

 

 

(0.05)

 

 

(0.10)

 

 

 —

 

Total Basic

 

$

(0.52)

 

$

(0.46)

 

$

(0.52)

 

$

(0.40)

 

Diluted from continuing operations

 

$

(0.52)

 

$

(0.41)

 

$

(0.42)

 

$

(0.40)

 

Diluted from discontinued operations

 

 

 —

 

 

(0.05)

 

 

(0.10)

 

 

 —

 

Total Diluted

 

$

(0.52)

 

$

(0.46)

 

$

(0.52)

 

$

(0.40)

 

(1)

Earnings per share is computed independently for each of the quarters presented. Therefore, the sum of the quarterly earnings per share may not equal the total computed for the year.