Unaudited Quarterly Financial Information

12 Months Ended

Dec. 31, 2019

Unaudited Quarterly Financial Information

Unaudited Quarterly Financial Information

Note 18 Unaudited Quarterly Financial Information

	Year Ended December 31, 2019
	Quarter Ended
	March 31,		June 30,		September 30,		December 31,
	(In thousands, except per share amounts)
Operating revenues	$	799,640	$	771,406	$	758,076	$	714,261
Income (loss) from continuing operations, net of tax	$	(103,376)	$	(192,801)	$	(99,788)	$	(284,533)
Income (loss) from discontinued operations, net of tax		(157)		(34)		157		22
Net income (loss)		(103,533)		(192,835)		(99,631)		(284,511)
Less: Net (income) loss attributable to noncontrolling interest		(14,176)		(10,729)		(19,297)		21,827
Net income (loss) attributable to Nabors	$	(117,709)	$	(203,564)	$	(118,928)	$	(262,684)
Less: Preferred stock dividend		(4,313)		(4,312)		(4,310)		(4,309)
Net income (loss) attributable to Nabors common shareholders	$	(122,022)	$	(207,876)	$	(123,238)	$	(266,993)
Earnings (losses) per share: (1)
Basic from continuing operations	$	(0.36)	$	(0.61)	$	(0.37)	$	(0.77)
Basic from discontinued operations		—		—		—		—
Total Basic	$	(0.36)	$	(0.61)	$	(0.37)	$	(0.77)
Diluted from continuing operations	$	(0.36)	$	(0.61)	$	(0.37)	$	(0.77)
Diluted from discontinued operations		—		—		—		—
Total Diluted	$	(0.36)	$	(0.61)	$	(0.37)	$	(0.77)

	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)

(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.

(2)