Segment Information (Tables)

3 Months Ended

Mar. 31, 2022

Segment Information

Financial information with respect to operating segments

		Three Months Ended
		March 31,
		2022		2021
	(In thousands)
Operating revenues:
U.S. Drilling		$	217,583	$	142,299
Canada Drilling			—		20,989
International Drilling			279,030		246,838
Drilling Solutions			54,182		35,706
Rig Technologies			36,736		25,748
Other reconciling items (1)			(18,992)		(11,069)
Total		$	568,539	$	460,511

		Three Months Ended
		March 31,
		2022		2021
	(In thousands)
Adjusted operating income (loss): (2)
U.S. Drilling		$	(5,851)	$	(23,336)
Canada Drilling			(19)		3,907
International Drilling			(6,327)		(18,632)
Drilling Solutions			14,709		4,710
Rig Technologies			(2,751)		(2,569)
Total segment adjusted operating income (loss)		$	(239)	$	(35,920)

		Three Months Ended
		March 31,
		2022		2021
	(In thousands)
Reconciliation of segment adjusted operating income (loss) to net income (loss):
Net income (loss)		$	(174,668)	$	(128,310)
Income (loss) from discontinued operations, net of tax			—		(19)
Income (loss) from continuing operations, net of tax			(174,668)		(128,329)
Income tax expense (benefit)			13,671		9,725
Income (loss) from continuing operations before income taxes			(160,997)	$	(118,604)
Investment (income) loss			(163)		(1,263)
Interest expense			46,910		42,975
Other, net			80,401		7,346
Other reconciling items (3)			33,610		33,626
Total segment adjusted operating income (loss) (2)		$	(239)	$	(35,920)

	March 31,		December 31,
	2022		2021
	(In thousands)
Total assets:
U.S. Drilling	$	1,540,980	$	1,606,683
Canada Drilling		529		1,392
International Drilling		2,343,972		2,380,703
Drilling Solutions		66,696		65,899
Rig Technologies		184,372		190,489
Other reconciling items (3)		720,617		1,280,198
Total	$	4,857,166	$	5,525,364

(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 from net income (loss) is provided in the above table.

(3) Represents the elimination of inter-segment transactions and unallocated corporate expenses and assets.