Segment Information (Tables)

3 Months Ended

Mar. 31, 2019

Financial information with respect to operating segments

Note 10 Segment Information

The following table sets forth financial information with respect to our reportable operating segments:


		Three Months Ended
		March 31,
		2019		2018
	(In thousands)
Operating revenues:
U.S. Drilling		$	320,209	$	241,002
Canada Drilling			25,315		31,887
International Drilling			337,256		368,845
Drilling Solutions			65,422		62,648
Rig Technologies			71,753		64,669
Other reconciling items (1)			(20,315)		(34,857)
Total		$	799,640	$	734,194


		Three Months Ended
		March 31,
		2019		2018
	(In thousands)
Adjusted operating income (loss): (2)
U.S. Drilling		$	24,683	$	(19,746)
Canada Drilling			(59)		(592)
International Drilling			(5,637)		24,536
Drilling Solutions			12,855		8,721
Rig Technologies			(5,148)		(12,976)
Total segment adjusted operating income (loss)		$	26,694	$	(57)


		Three Months Ended
		March 31,
		2019		2018
	(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)		$	26,694	$	(57)
Other reconciling items (3)			(40,089)		(44,977)
Earnings (losses) from unconsolidated affiliates			(5)		2
Investment income (loss)			9,677		465
Interest expense			(52,352)		(61,386)
Other, net			(17,502)		(14,089)
Income (loss) from continuing operations before income taxes		$	(73,577)	$	(120,042)


	March 31,		December 31,
	2019		2018
	(In thousands)
Total assets:
U.S. Drilling	$	2,954,828	$	2,982,974
Canada Drilling		250,417		252,817
International Drilling		3,243,297		3,320,347
Drilling Solutions		269,329		281,078
Rig Technologies		426,517		401,044
Other reconciling items (3)		629,296		615,684
Total	$	7,773,684	$	7,853,944

(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 and assets.