Revenue Recognition (Tables)

9 Months Ended

Sep. 30, 2024

Revenue Recognition

Schedule of revenue, disaggregated by geographical region

In the following table, revenue is disaggregated by geographical region. The table also includes a reconciliation of the disaggregated revenue with the reportable segments:

	Three Months Ended
	September 30, 2024
		U.S. Drilling		International Drilling		Drilling Solutions		Rig Technologies		Other		Total
	(In thousands)
Lower 48	$	217,138	$	—	$	42,161	$	20,661	$	—	$	279,960
U.S. Offshore Gulf of Mexico		25,510		—		1,969		—		—		27,479
Alaska		12,125		—		501		—		—		12,626
Canada		—		—		416		936		—		1,352
Middle East & Asia		—		250,740		13,321		19,067		—		283,128
Latin America		—		94,140		20,735		3,361		—		118,236
Europe, Africa & CIS		—		23,714		441		1,784		—		25,939
Eliminations & other		—		—		—		—		(16,915)		(16,915)
Total	$	254,773	$	368,594	$	79,544	$	45,809	$	(16,915)	$	731,805

	Nine Months Ended
	September 30, 2024
		U.S. Drilling		International Drilling		Drilling Solutions		Rig Technologies		Other		Total
	(In thousands)
Lower 48	$	670,060	$	—	$	134,296	$	66,735	$	—	$	871,091
U.S. Offshore Gulf of Mexico		82,555		—		7,429		—		—		89,984
Alaska		33,870		—		1,856		—		—		35,726
Canada		—		—		1,282		4,051		—		5,333
Middle East & Asia		—		751,271		37,363		57,748		—		846,382
Latin America		—		266,416		54,789		12,064		—		333,269
Europe, Africa & CIS		—		56,999		1,064		4,913		—		62,976
Eliminations & other		—		—		—		—		(44,454)		(44,454)
Total	$	786,485	$	1,074,686	$	238,079	$	145,511	$	(44,454)	$	2,200,307

	Three Months Ended
	September 30, 2023
		U.S. Drilling		International Drilling		Drilling Solutions		Rig Technologies		Other		Total
	(In thousands)
Lower 48	$	241,900	$	—	$	45,646	$	27,453	$	—	$	314,999
U.S. Offshore Gulf of Mexico		25,768		—		2,974		—		—		28,742
Alaska		8,717		—		469		—		—		9,186
Canada		—		—		467		1,526		—		1,993
Middle East & Asia		—		243,691		10,550		27,430		—		281,671
Latin America		—		86,665		11,885		3,265		—		101,815
Europe, Africa & CIS		—		14,424		840		1,763		—		17,027
Eliminations & other		—		—		—		—		(21,459)		(21,459)
Total	$	276,385	$	344,780	$	72,831	$	61,437	$	(21,459)	$	733,974

	Nine Months Ended
	September 30, 2023
		U.S. Drilling		International Drilling		Drilling Solutions		Rig Technologies		Other		Total
	(In thousands)
Lower 48	$	820,927	$	—	$	148,587	$	92,069	$	—	$	1,061,583
U.S. Offshore Gulf of Mexico		89,744		—		8,929		—		—		98,673
Alaska		31,196		—		1,450		—		—		32,646
Canada		—		—		1,137		5,539		—		6,676
Middle East & Asia		—		704,918		32,587		70,190		—		807,695
Latin America		—		251,300		30,446		7,776		—		289,522
Europe, Africa & CIS		—		46,260		1,593		7,907		—		55,760
Eliminations & other		—		—		—		—		(72,375)		(72,375)
Total	$	941,867	$	1,002,478	$	224,729	$	183,481	$	(72,375)	$	2,280,180

Summary of receivables, contract assets, current and long-term contract liabilities

The opening and closing balances of our receivables, contract assets and current and long-term contract liabilities are as follows:

			Contract		Contract		Contract		Contract
	Contract		Assets		Assets		Liabilities		Liabilities
	Receivables		(Current)		(Long-term)		(Current)		(Long-term)
	(In thousands)
As of December 31, 2023	$	397,051	$	8,434	$	2,980	$	20,295	$	1,969
As of September 30, 2024	$	431,925	$	18,331	$	6,057	$	24,617	$	1,918