BUSINESS SEGMENTS AND GEOGRAPHIC INFORMATION (Tables)

6 Months Ended

Mar. 31, 2022

Schedule of Financial Information of Reportable Segments

Summarized financial information of our reportable segments for the three and six months ended March 31, 2022 and 2021 is shown in the following tables:


	Three Months Ended March 31, 2022
(in thousands)	North America Solutions		Offshore Gulf of Mexico		International Solutions		Other		Eliminations		Total
External sales	$	408,814	$	29,147	$	27,422	$	2,214	$	—	$	467,597
Intersegment	—		—		—		13,204		(13,204)		—
Total sales	408,814		29,147		27,422		15,418		(13,204)		467,597

Segment operating income (loss)	1,297		5,278		(848)		3,167		(2,031)		6,863


	Three Months Ended March 31, 2021
(in thousands)	North America Solutions		Offshore Gulf of Mexico		International Solutions		Other		Eliminations		Total
External sales	$	249,939	$	29,274	$	14,813	$	2,145	$	—	$	296,171
Intersegment	—		—		—		8,680		(8,680)		—
Total sales	249,939		29,274		14,813		10,825		(8,680)		296,171

Segment operating income (loss)	(109,834)		2,978		(3,458)		(1,072)		(3,433)		(114,819)


	Six Months Ended March 31, 2022
(in thousands)	North America Solutions		Offshore Gulf of Mexico		International Solutions		Other		Eliminations		Total
External sales	$	749,848	$	58,461	$	64,581	$	4,489	$	—	$	877,379
Intersegment	—		—		—		26,852		(26,852)		—
Total sales	749,848		58,461		64,581		31,341		(26,852)		877,379

Segment operating income (loss)	(27,596)		10,744		7,201		7,096		(3,313)		(5,868)


	Six Months Ended March 31, 2021
(in thousands)	North America Solutions		Offshore Gulf of Mexico		International Solutions		Other		Eliminations		Total
External sales	$	451,929	$	61,547	$	25,331	$	3,741	$	—	$	542,548
Intersegment	—		—		—		15,802		(15,802)		—
Total sales	451,929		61,547		25,331		19,543		(15,802)		542,548

Segment operating income (loss)	(182,762)		5,720		(11,815)		3,039		(5,559)		(191,377)

Schedule of Reconciliation of Segment Operating Income (Loss) to Income from Continuing Operations Before Income Taxes

The following table reconciles segment operating income (loss) per the tables above to loss from continuing operations before income taxes as reported on the Unaudited Condensed Consolidated Statements of Operations:


	Three Months Ended March 31,				Six Months Ended March 31,
(in thousands)	2022		2021		2022		2021
Segment operating income (loss)	$	6,863	$	(114,819)	$	(5,868)	$	(191,377)
Gain on reimbursement of drilling equipment	6,448		3,748		11,702		5,939
Other gain (loss) on sale of assets	716		(22,263)		(313)		(12,118)
Corporate selling, general and administrative costs, corporate depreciation, and corporate restructuring charges	(36,644)		(27,589)		(70,749)		(56,590)
Operating loss from continuing operations	(22,617)		(160,923)		(65,228)		(254,146)
Other income (expense)
Interest and dividend income	3,399		4,819		5,988		6,698
Interest expense	(4,390)		(5,759)		(10,504)		(11,898)
Gain on investment securities	22,132		2,520		69,994		5,444

Loss on extinguishment of debt	—		—		(60,083)		—
Other	(476)		(577)		(1,018)		(2,057)
Total unallocated amounts	20,665		1,003		4,377		(1,813)
Loss from continuing operations before income taxes	$	(1,952)	$	(159,920)	$	(60,851)	$	(255,959)

Schedule of Total Assets by Reportable Segment

The following table reconciles segment total assets as reported on the Unaudited Condensed Consolidated Balance Sheets:


(in thousands)	March 31, 2022		September 30, 2021
Total assets 1
North America Solutions	$	3,365,225	$	3,418,569
Offshore Gulf of Mexico	81,575		84,580
International Solutions	386,832		269,820
Other	105,630		95,398
	3,939,262		3,868,367
Investments and corporate operations	395,088		1,165,761
	$	4,334,350	$	5,034,128

(1)Assets by segment exclude investments in subsidiaries and intersegment activity.

Schedule of Revenues from External Customers by Country

The following table presents revenues from external customers by country based on the location of service provided:


	Three Months Ended March 31,				Six Months Ended March 31,
(in thousands)	2022		2021		2022		2021
Operating revenues
United States	$	439,793	$	280,757	$	811,282	$	516,201
Argentina	15,450		6,979		44,601		8,532
Bahrain	4,826		6,921		12,459		14,470
United Arab Emirates	1,524		—		1,524		990
Colombia	5,622		946		5,997		1,375
Other Foreign	382		568		1,516		980
Total	$	467,597	$	296,171	$	877,379	$	542,548