XML 13 R2.htm IDEA: XBRL DOCUMENT v3.7.0.1
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
REVENUES:        
Contract drilling $ 111,803 $ 217,818 $ 423,906 $ 794,979
Revenues related to reimbursable expenses 5,431 9,979 18,590 36,988
Total revenues 117,234 227,797 442,496 831,967
COSTS AND EXPENSES:        
Contract drilling 48,182 80,524 178,129 301,094
Reimbursable expenses 3,245 5,489 14,521 22,898
Depreciation 38,500 41,084 121,751 124,964
General and administrative 15,557 12,028 43,193 38,693
Asset impairment 211 (659) 59,173 64,773
Loss on sale of assets 379 0 261 77
Other, net 0 16 0 (1,044)
Costs and Expenses 106,074 138,482 417,028 551,455
OPERATING INCOME 11,160 89,315 25,468 280,512
OTHER (EXPENSE) INCOME:        
Interest expense, net of capitalized interest (13,636) (19,674) (43,464) (50,533)
Interest income 708 9 975 19
Gains on extinguishment of debt 0 50,466 0 58,863
Other income 0 0 0 17,976
Other income (expense) total (12,928) 30,801 (42,489) 26,325
(LOSS) INCOME BEFORE INCOME TAXES (1,768) 120,116 (17,021) 306,837
PROVISION FOR INCOME TAXES 2,581 20,611 6,520 45,814
NET (LOSS) INCOME $ (4,349) $ 99,505 $ (23,541) $ 261,023
(LOSS) EARNINGS PER COMMON SHARE (NOTE 3):        
Basic (in dollars per share) $ (0.05) $ 1.54 $ (0.32) $ 4.03
Diluted (in dollars per share) $ (0.05) $ 1.53 $ (0.32) $ 4.02
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING (NOTE 3):        
Basic (in shares) 80,542 64,795 74,515 64,750
Diluted (in shares) 80,542 64,847 74,515 64,852