Revenue Recognition (Tables)

12 Months Ended

Dec. 31, 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:

	Year Ended
	December 31, 2024
		U.S. Drilling		International Drilling		Drilling Solutions		Rig Technologies		Other		Total
	(In thousands)
Lower 48	$	872,432	$	—	$	172,832	$	83,313	$	—	$	1,128,577
U.S. Offshore Gulf of Mexico		107,253		—		9,943		—		—		117,196
Alaska		48,437		—		2,447		—		—		50,884
Canada		—		—		1,847		6,331		—		8,178
Middle East & Asia		—		1,002,350		51,222		91,344		—		1,144,916
Latin America		—		360,092		74,225		14,310		—		448,627
Europe, Africa & CIS		—		83,650		1,555		6,379		—		91,584
Eliminations & other		—		—		—		—		(59,836)		(59,836)
Total	$	1,028,122	$	1,446,092	$	314,071	$	201,677	$	(59,836)	$	2,930,126

	Year Ended
	December 31, 2023
		U.S. Drilling		International Drilling		Drilling Solutions		Rig Technologies		Other		Total
	(In thousands)
Lower 48	$	1,052,274	$	—	$	196,252	$	121,958	$	—	$	1,370,484
U.S. Offshore Gulf of Mexico		118,218		—		11,147		—		—		129,365
Alaska		37,137		—		1,733		—		—		38,870
Canada		—		—		1,522		7,270		—		8,792
Middle East & Asia		—		943,285		44,896		93,032		—		1,081,213
Latin America		—		341,470		44,422		11,162		—		397,054
Europe, Africa & CIS		—		60,494		1,785		9,346		—		71,625
Eliminations & other		—		—		—		—		(91,422)		(91,422)
Total	$	1,207,629	$	1,345,249	$	301,757	$	242,768	$	(91,422)	$	3,005,981

	Year Ended
	December 31, 2022
		U.S. Drilling		International Drilling		Drilling Solutions		Rig Technologies		Other		Total
	(In thousands)
Lower 48	$	913,932	$	—	$	157,709	$	111,197	$	—	$	1,182,838
U.S. Offshore Gulf of Mexico		122,536		—		10,665		—		—		133,201
Alaska		64,146		—		1,734		—		—		65,880
Canada		—		—		1,521		5,726		—		7,247
Middle East & Asia		—		805,944		41,257		64,739		—		911,940
Latin America		—		309,320		29,515		1,503		—		340,338
Europe, Africa & CIS		—		84,018		948		11,964		—		96,930
Eliminations & other		—		—		—		—		(84,608)		(84,608)
Total	$	1,100,614	$	1,199,282	$	243,349	$	195,129	$	(84,608)	$	2,653,766

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 December 31, 2024	$	433,562	$	17,510	$	9,742	$	24,002	$	13,424