SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Sep. 30, 2015

Schedule of Revenue by Major Customers by Reporting Segments [Table Text Block]

Revenues from individual customers that are 10% or more of our total revenues are as follows:



(In thousands)	Fiscal 2015		Fiscal 2014		Fiscal 2013
Noble Energy Inc.	$	227,682	$	169,851	$	153,615
Shell Offshore Inc.	201,190		179,763		28,349
Woodside Energy Ltd.	166,796		68,484		75,160
Chevron Australia Pty. Ltd.	156,099		175,334		197,242
Kosmos Energy	142,701		12,933		—
Apache Energy Ltd.	39,233		209,871		159,369
Hess Corporation	—		—		154,973

Schedule Of Accounts Receivable By Major Customers [Table Text Block]

In addition, we have certain customers that make up a significant portion of our Accounts Receivable at September 30, 2015, as indicated in the table below:



	Percentage of Accounts Receivable
BHP Billiton Petroleum Pty. Ltd.	15%
PXP Morocco	14%
Shell Offshore Inc.	12%
Noble Energy Inc.	11%
Chevron Australia Pty. Ltd.	10%
Woodside Energy Ltd.	10%

Estimated Useful Lives of Assets

Our estimated useful lives of our various classifications of assets are as follows:



	Years
Drilling vessels and related equipment	5-35
Drill pipe	3
Furniture and other	3-10

A summary of property and equipment by classification is as follows:



	September 30,
(In thousands)	2015			2014
Drilling vessels and equipment	$	4,003,483		$	4,181,774
Construction work in progress	720,852			319,548
Drill pipe	55,248			31,265
Office equipment and other	36,379			35,566
Total cost	4,815,962			4,568,153
Less: Accumulated depreciation	(643,830		)	(601,125		)
Property and equipment, net	$	4,172,132		$	3,967,028

Computation of Basic and Diluted Earnings Per Share

The computation of basic and diluted earnings per share for each of the past three fiscal years is as follows:



(In thousands, except per share amounts)	Net Income		Shares	Per Share Amount
Fiscal 2015
Basic earnings per share	$	432,573	64,581	$	6.70
Effect of dilutive securities:
Stock options	—		61	—
Restricted stock	—		388	(0.05		)
Diluted earnings per share	$	432,573	65,030	$	6.65
Fiscal 2014
Basic earnings per share	$	340,822	64,240	$	5.31
Effect of dilutive securities:
Stock options	—		239	(0.01		)
Restricted stock	—		595	(0.06		)
Diluted earnings per share	$	340,822	65,074	$	5.24
Fiscal 2013
Basic earnings per share	$	350,224	65,073	$	5.38
Effect of dilutive securities:
Stock options	—		354	(0.03		)
Restricted stock	—		418	(0.03		)
Diluted earnings per share	$	350,224	65,845	$	5.32