XML 13 R4.htm IDEA: XBRL DOCUMENT v3.22.2
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (LOSS) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Revenues and other income:        
Operating revenues $ 630,943 $ 489,333 $ 1,199,482 $ 949,844
Investment income (loss) 822 (62) 985 1,201
Total revenues and other income 631,765 489,271 1,200,467 951,045
Costs and other deductions:        
Direct costs 403,797 312,466 776,509 603,120
General and administrative expenses 58,167 51,580 111,806 106,240
Research and engineering 10,941 7,965 22,619 15,432
Depreciation and amortization 162,015 174,775 326,374 352,051
Interest expense 42,899 41,714 89,809 84,689
Other, net 14,528 66,455 94,929 73,801
Total costs and other deductions 692,347 654,955 1,422,046 1,235,333
Income (loss) from continuing operations before income taxes (60,582) (165,684) (221,579) (284,288)
Income tax expense (benefit):        
Current 9,298 27,195 19,248 38,098
Deferred 55 (2,476) 3,776 (3,654)
Total income tax expense (benefit) 9,353 24,719 23,024 34,444
Income (loss) from continuing operations, net of tax (69,935) (190,403) (244,603) (318,732)
Income (loss) from discontinued operations, net of tax   8   27
Net income (loss) (69,935) (190,395) (244,603) (318,705)
Less: Net (income) loss attributable to noncontrolling interest (12,982) (5,614) (22,810) (14,390)
Net income (loss) attributable to Nabors (82,917) (196,009) (267,413) (333,095)
Less: Preferred stock dividend       (3,653)
Net income (loss) attributable to Nabors common shareholders (82,917) (196,009) (267,413) (336,748)
Amounts attributable to Nabors common shareholders:        
Net income (loss) from continuing operations (82,917) (196,017) (267,413) (336,775)
Net income (loss) from discontinued operations   8   27
Net income (loss) attributable to Nabors common shareholders $ (82,917) $ (196,009) $ (267,413) $ (336,748)
Earnings (losses) per share:        
Basic from continuing operations (in dollars per share) $ (9.41) $ (26.59) $ (31.34) $ (46.90)
Total Basic (in dollars per share) (9.41) (26.59) (31.34) (46.90)
Diluted from continuing operations (in dollars per share) (9.41) (26.59) (31.34) (46.90)
Total Diluted (in dollars per share) $ (9.41) $ (26.59) $ (31.34) $ (46.90)
Weighted-average number of common shares outstanding:        
Basic (in shares) 9,081 7,460 8,696 7,281
Diluted (in shares) 9,081 7,460 8,696 7,281