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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Operating revenues        
Operating revenues $ 800,549 $ 697,450 $ 2,130,477 $ 1,946,039
Operating costs and expenses        
Depreciation and amortization 109,879 77,146 287,347 218,412
General and administrative 43,596 33,039 109,226 95,428
Merger and integration costs 69,214 12,966 89,163 47,049
(Gain) loss on sale of operating assets, net 0 0 (17,357) 0
Hurricane losses and (recoveries), net 0 2,642 0 22,120
Total operating costs and expenses 685,066 496,674 1,697,488 1,529,014
Operating income (loss) 115,483 200,776 432,989 417,025
Other income (expense)        
Interest expense, net of amounts capitalized (24,951) (13,005) (54,491) (44,539)
Gain on bargain purchase 0 5,005 0 5,005
Gain (loss) on extinguishment of debt, net 0 0 0 (26,397)
Interest income and other, net 2,292 17,206 (10,626) 16,292
Income (loss) before income taxes 92,824 209,982 367,872 367,386
Income tax benefit (provision) (31,608) (51,659) (16,167) (35,184)
Net income (loss) $ 61,216 $ 158,323 $ 351,705 $ 332,202
Basic:        
Net income (loss) (in usd per share) $ 0.41 $ 1.14 $ 2.43 $ 2.42
Diluted:        
Net income (loss) (in usd per share) $ 0.40 $ 1.09 $ 2.37 $ 2.29
Contract drilling services        
Operating revenues        
Operating revenues $ 763,543 $ 671,004 $ 2,036,678 $ 1,852,474
Operating costs and expenses        
Cost of services 434,192 354,199 1,159,913 1,078,521
Reimbursables and other        
Operating revenues        
Operating revenues 37,006 26,446 93,799 93,565
Operating costs and expenses        
Cost of services $ 28,185 $ 16,682 $ 69,196 $ 67,484