Segment Information (Tables)

3 Months Ended

Mar. 31, 2021

Segment Information

Financial information with respect to operating segments

		Three Months Ended
		March 31,
		2021		2020
	(In thousands)
Operating revenues:
U.S. Drilling		$	142,299	$	274,901
Canada Drilling			20,989		25,591
International Drilling			246,838		337,110
Drilling Solutions			35,706		55,384
Rig Technologies			25,748		42,150
Other reconciling items (1)			(11,069)		(16,772)
Total		$	460,511	$	718,364

		Three Months Ended
		March 31,
		2021		2020
	(In thousands)
Adjusted operating income (loss): (2)
U.S. Drilling		$	(23,336)	$	(7,404)
Canada Drilling			3,907		37
International Drilling			(18,632)		(4,147)
Drilling Solutions			4,710		10,549
Rig Technologies			(2,569)		(8,151)
Total segment adjusted operating income (loss)		$	(35,920)	$	(9,116)

		Three Months Ended
		March 31,
		2021		2020
	(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)		$	(35,920)	$	(9,116)
Other reconciling items (3)			(33,626)		(30,216)
Investment income (loss)			1,263		(3,198)
Interest expense			(42,975)		(54,722)
Impairments and other charges			(2,483)		(276,434)
Other, net			(4,863)		17,110
Income (loss) from continuing operations before income taxes		$	(118,604)	$	(356,576)

	March 31,		December 31,
	2021		2020
	(In thousands)
Total assets:
U.S. Drilling	$	1,804,430	$	1,871,008
Canada Drilling		179,981		174,123
International Drilling		2,537,288		2,688,912
Drilling Solutions		90,971		100,278
Rig Technologies		206,446		225,954
Other reconciling items (3)		435,790		443,153
Total	$	5,254,906	$	5,503,428

(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.