Special Purpose Acquisition Companies (Tables)

12 Months Ended

Dec. 31, 2023

NETC

Special Purpose Acquisition Companies

Schedule of Special Purpose Acquisition Companies effects on changes in non-controlling interest subject to possible redemption

The following table summarizes NETC’s effects on changes in non-controlling interest subject to possible redemption.

	2023		2022
	(In thousands)
Balance, beginning of year	$	284,841	$	281,520
Net earnings		5,540		3,321
Nabors deemed dividends to SPAC public shareholders		3,055		—
Noncontrolling interest deemed dividends to SPAC public shareholders		1,774		—
Redemptions and distributions of Trust Account		(295,210)		—
Balance as of December 31	$	—	$	284,841

NETC II

Special Purpose Acquisition Companies

Schedule of Special Purpose Acquisition Companies effects on changes in non-controlling interest subject to possible redemption

The following table summarizes NETC II’s effects on changes in non-controlling interest subject to possible redemption.

	2023
	(In thousands)
Balance, beginning of year	$	—
Initial public offering		294,474
Net earnings		7,438
Nabors deemed dividends to SPAC public shareholders		5,583
Noncontrolling interest deemed dividends to SPAC public shareholders		7,993
Balance as of December 31	$	315,488