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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Operating revenues        
Operating revenues $ 692,844 $ 638,535 $ 1,329,928 $ 1,248,589
Operating costs and expenses        
Depreciation and amortization 90,770 71,324 177,468 141,266
General and administrative 39,669 32,352 65,630 62,389
Merger and integration costs 10,618 22,452 19,949 34,083
(Gain) loss on sale of operating assets, net (17,357) 0 (17,357) 0
Hurricane losses and (recoveries), net 0 15,934 0 19,478
Total operating costs and expenses 482,885 529,391 1,012,422 1,032,340
Operating income (loss) 209,959 109,144 317,506 216,249
Other income (expense)        
Interest expense, net of amounts capitalized (11,996) (14,662) (29,540) (31,534)
Gain (loss) on extinguishment of debt, net 0 (26,397) 0 (26,397)
Interest income and other, net (8,183) (2,940) (12,918) (914)
Income (loss) before income taxes 189,780 65,145 275,048 157,404
Income tax benefit (provision) 5,228 671 15,441 16,475
Net income (loss) $ 195,008 $ 65,816 $ 290,489 $ 173,879
Basic:        
Net income (loss) (in usd per share) $ 1.37 $ 0.48 $ 2.04 $ 1.27
Diluted:        
Net income (loss) (in usd per share) $ 1.34 $ 0.45 $ 1.99 $ 1.19
Contract drilling services        
Operating revenues        
Operating revenues $ 660,710 $ 606,180 $ 1,273,135 $ 1,181,470
Operating costs and expenses        
Cost of services 335,854 362,533 725,721 724,322
Reimbursables and other        
Operating revenues        
Operating revenues 32,134 32,355 56,793 67,119
Operating costs and expenses        
Cost of services $ 23,331 $ 24,796 $ 41,011 $ 50,802