Segment Information

3 Months Ended

Mar. 31, 2020

Segment Information

Segment Information

Note 12 Segment Information

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

		Three Months Ended
		March 31,
		2020		2019
	(In thousands)
Operating revenues:
U.S. Drilling		$	274,901	$	320,209
Canada Drilling			25,591		25,315
International Drilling			337,110		337,256
Drilling Solutions			55,384		65,422
Rig Technologies			42,150		71,753
Other reconciling items (1)			(16,772)		(20,315)
Total		$	718,364	$	799,640

		Three Months Ended
		March 31,
		2020		2019
	(In thousands)
Adjusted operating income (loss): (2)
U.S. Drilling		$	(7,404)	$	24,683
Canada Drilling			37		(59)
International Drilling			(4,147)		(5,637)
Drilling Solutions			10,549		12,855
Rig Technologies			(8,151)		(5,148)
Total segment adjusted operating income (loss)		$	(9,116)	$	26,694

		Three Months Ended
		March 31,
		2020		2019
	(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)		$	(9,116)	$	26,694
Other reconciling items (3)			(30,216)		(40,089)
Earnings (losses) from unconsolidated affiliates			—		(5)
Investment income (loss)			(3,198)		9,677
Interest expense			(54,722)		(52,352)
Impairments and other charges			(276,434)		—
Other, net			17,110		(17,502)
Income (loss) from continuing operations before income taxes		$	(356,576)	$	(73,577)

	March 31,		December 31,
	2020		2019
	(In thousands)
Total assets:
U.S. Drilling	$	2,185,051	$	2,369,200
Canada Drilling		186,632		202,706
International Drilling		2,943,739		2,979,494
Drilling Solutions		147,462		218,004
Rig Technologies		245,347		324,523
Other reconciling items (3)		600,317		666,731
Total	$	6,308,548	$	6,760,658

(1) Represents the elimination of inter-segment transactions related to our Rig Technologies operating segment.

(2) Adjusted operating income (loss) represents income (loss) from continuing operations before income taxes, interest expense, earnings (losses) from unconsolidated affiliates, investment income (loss), impairments and other charges 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.