Segment Information (Tables)

12 Months Ended

Dec. 31, 2022

Segment Information

Financial information with respect to operating segments

	Year Ended December 31,
	2022		2021		2020
	(In thousands)
Operating revenues:
U.S. Drilling	$	1,100,614	$	669,656	$	713,057
Canada Drilling		—		39,336		54,753
International Drilling		1,199,282		1,043,197		1,131,673
Drilling Solutions		243,349		172,473		149,834
Rig Technologies		195,129		149,273		131,555
Other reconciling items (1)		(84,608)		(56,387)		(46,829)
Total	$	2,653,766	$	2,017,548	$	2,134,043

	Year Ended December 31,
	2022		2021		2020
	(In thousands)
Adjusted operating income (loss): (2)
U.S. Drilling	$	108,506	$	(76,492)	$	(96,176)
Canada Drilling		13		2,893		(11,766)
International Drilling		(879)		(40,117)		(56,205)
Drilling Solutions		77,868		32,771		6,167
Rig Technologies		8,906		158		(13,481)
Total segment adjusted operating income (loss)	$	194,414	$	(80,787)	$	(171,461)

	Year Ended December 31,
	2022		2021		2020
	(In thousands)
Reconciliation of segment adjusted operating income (loss) to net income (loss):
Net income (loss)	$	(307,218)	$	(543,690)	$	(762,846)
Income (loss) from discontinued operations, net of tax		—		(20)		(7)
Income (loss) from continuing operations, net of tax		(307,218)		(543,710)		(762,853)
Income tax expense (benefit)		61,536		55,621		57,286
Income (loss) from continuing operations before income taxes	$	(245,682)	$	(488,089)	$	(705,567)
Investment (income) loss		(14,992)		(1,557)		(1,438)
Interest expense		177,895		171,476		206,274
Gain/(loss) on debt buybacks and exchanges		(4,597)		(13,423)		(228,274)
Impairments and other charges		—		66,731		410,631
Other, net		131,696		53,421		28,567
Other reconciling items (3)		150,094		130,654		118,346
Total segment adjusted operating income (loss) (2)	$	194,414	$	(80,787)	$	(171,461)

	Year Ended December 31,
	2022		2021		2020
	(In thousands)
Depreciation and amortization
U.S. Drilling	$	311,759	$	326,361	$	398,326
Canada Drilling		—		11,604		24,784
International Drilling		329,335		323,431		377,599
Drilling Solutions		20,829		26,660		40,074
Rig Technologies		5,794		8,191		15,299
Other reconciling items (3)		(2,645)		(2,866)		(2,383)
Total	$	665,072	$	693,381	$	853,699

	Year Ended December 31,
	2022		2021		2020
	(In thousands)
Capital expenditures:
U.S. Drilling	$	118,017	$	53,875	$	44,606
Canada Drilling		—		2,938		2,018
International Drilling		222,099		173,078		127,888
Drilling Solutions		19,946		9,919		12,306
Rig Technologies		15,660		2,790		2,637
Other reconciling items (3)		5,765		1,089		251
Total	$	381,487	$	243,689	$	189,706

	December 31,
	2022		2021
	(In thousands)
Total assets:
U.S. Drilling	$	1,389,459	$	1,606,683
Canada Drilling		372		1,392
International Drilling		2,273,766		2,380,703
Drilling Solutions		63,652		65,899
Rig Technologies		207,345		190,489
Other reconciling items (3)		795,260		1,280,198
Total	$	4,729,854	$	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), (gain)/loss on debt buybacks and exchanges, 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, assets and capital expenditures.

Schedule of financial information with respect to Nabors' operations by geographic area

	Year Ended December 31,
	2022		2021		2020
	(In thousands)
Operating revenues
U.S.	$	1,323,531	$	804,807	$	841,531
Outside the U.S.		1,330,235		1,212,741		1,292,512
	$	2,653,766	$	2,017,548	$	2,134,043
Property, plant and equipment, net:
U.S.	$	1,437,333	$	1,648,622	$	1,917,203
Outside the U.S.		1,588,767		1,699,876		2,068,504
	$	3,026,100	$	3,348,498	$	3,985,707