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<div> <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">The following table summarizes the status of the Drilling Products and Systems segment’s long-term construction projects in process.  Payments include those received for projects in progress and not yet begun and completed projects with outstanding collections (in millions):</font></div> <div style="DISPLAY: block; TEXT-INDENT: 0pt"> </div> <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"> <div> <div align="center"> <div align="center"> <div align="center"> <div align="center"> <div align="center"> <div align="center"> <div align="center"> <table cellpadding="0" cellspacing="0" width="80%" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"> <tr> <td valign="bottom" width="76%"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">  </font></td> <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman"> </font></td> <td colspan="2" valign="bottom" width="10%"> <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">June 30,</font></div></td> <td align="left" nowrap="nowrap" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman"> </font></td> <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman"> </font></td> <td colspan="2" valign="bottom" width="10%"> <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">December 31,</font></div></td> <td align="left" nowrap="nowrap" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman"> </font></td></tr> <tr> <td valign="bottom" width="76%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">  </font></td> <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman"> </font></td> <td colspan="2" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid"> <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">2009</font></div></td> <td align="left" nowrap="nowrap" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman"> </font></td> <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman"> </font></td> <td colspan="2" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid"> <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">2008</font></div></td> <td align="left" nowrap="nowrap" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman"> </font></td></tr> <tr> <td valign="bottom" width="76%"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">  </font></td> <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman"> </font></td> <td colspan="2" valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman"> </font></td> <td align="left" nowrap="nowrap" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman"> </font></td> <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman"> </font></td> <td colspan="2" valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman"> </font></td> <td align="left" nowrap="nowrap" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman"> </font></td></tr> <tr bgcolor="#cceeff"> <td align="left" valign="bottom" width="76%"> <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">Total contract value of long-term projects in process (or not yet begun)</font></div></td> <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman"> </font></td> <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">$</font></td> <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">199.2</font></td> <td align="left" nowrap="nowrap" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman"> </font></td> <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman"> </font></td> <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">$</font></td> <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">290.7</font></td> <td align="left" nowrap="nowrap" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman"> </font></td></tr> <tr bgcolor="white"> <td align="left" valign="bottom" width="76%"> <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">Payments received</font></div></td> <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman"> </font></td> <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman"> </font></td> <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">132.2</font></td> <td align="left" nowrap="nowrap" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman"> </font></td> <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman"> </font></td> <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman"> </font></td> <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">168.6</font></td> <td align="left" nowrap="nowrap" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman"> </font></td></tr> <tr bgcolor="#cceeff"> <td align="left" valign="bottom" width="76%"> <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">Revenues recognized</font></div></td> <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman"> </font></td> <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman"> </font></td> <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">86.1</font></td> <td align="left" nowrap="nowrap" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman"> </font></td> <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman"> </font></td> <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman"> </font></td> <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">119.7</font></td> <td align="left" nowrap="nowrap" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman"> </font></td></tr> <tr bgcolor="white"> <td align="left" valign="bottom" width="76%"> <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">Costs recognized</font></div></td> <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman"> </font></td> <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman"> </font></td> <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">54.1</font></td> <td align="left" nowrap="nowrap" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman"> </font></td> <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman"> </font></td> <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman"> </font></td> <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">74.5</font></td> <td align="left" nowrap="nowrap" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman"> </font></td></tr> <tr bgcolor="#cceeff"> <td align="left" valign="bottom" width="76%"> <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">Payments received in excess of revenues recognized</font></div></td> <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman"> </font></td> <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman"> </font></td> <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">46.1</font></td> <td align="left" nowrap="nowrap" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman"> </font></td> <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman"> </font></td> <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman"> </font></td> <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">48.9</font></td> <td align="left" nowrap="nowrap" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman"> </font></td></tr> <tr bgcolor="white"> <td valign="bottom" width="76%"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">  </font></td> <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman"> </font></td> <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman"> </font></td> <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman"> </font></td> <td align="left" nowrap="nowrap" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman"> </font></td> <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman"> </font></td> <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman"> </font></td> <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman"> </font></td> <td align="left" nowrap="nowrap" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman"> </font></td></tr> <tr bgcolor="#cceeff"> <td align="left" valign="bottom" width="76%"> <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">Billings in excess of uncompleted contract costs</font></div></td> <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman"> </font></td> <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman"> </font></td> <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman"> </font></td> <td align="left" nowrap="nowrap" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman"> </font></td> <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman"> </font></td> <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman"> </font></td> <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman"> </font></td> <td align="left" nowrap="nowrap" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman"> </font></td></tr> <tr bgcolor="white"> <td align="left" valign="bottom" width="76%" style="PADDING-BOTTOM: 4px"> <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">and estimated profit</font></div></td> <td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman"> </font></td> <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">$</font></td> <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">47.9</font></td> <td align="left" nowrap="nowrap" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman"> </font></td> <td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman"> </font></td> <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">$</font></td> <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">57.1</font></td> <td align="left" nowrap="nowrap" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman"> </font></td></tr> <tr bgcolor="#cceeff"> <td align="left" valign="bottom" width="76%"> <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">Uncompleted contract costs and estimated profit</font></div></td> <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman"> </font></td> <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman"> </font></td> <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman"> </font></td> <td align="left" nowrap="nowrap" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman"> </font></td> <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman"> </font></td> <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman"> </font></td> <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman"> </font></td> <td align="left" nowrap="nowrap" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman"> </font></td></tr> <tr bgcolor="white"> <td align="left" valign="bottom" width="76%" style="PADDING-BOTTOM: 4px"> <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">in excess of billings (included in other current assets)</font></div></td> <td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman"> </font></td> <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">$</font></td> <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">1.8</font></td> <td align="left" nowrap="nowrap" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman"> </font></td> <td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman"> </font></td> <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">$</font></td> <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">8.2</font></td> <td align="left" nowrap="nowrap" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman"> </font></td></tr> <tr bgcolor="#cceeff"> <td valign="bottom" width="76%"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">  </font></td> <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman"> </font></td> <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman"> </font></td> <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman"> </font></td> <td align="left" nowrap="nowrap" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman"> </font></td> <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman"> </font></td> <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman"> </font></td> <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman"> </font></td> <td align="left" nowrap="nowrap" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman"> </font></td></tr></table></div></div></div></div></div></div></div></div></div> <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"> </div> <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">During the three months ended June 30, 2009, Rowan recognized approximately $24.5 million of manufacturing revenues and $19.3 million of manufacturing costs related to long-term construction projects on the percentage-of-completion basis, as compared to $37.8 million of revenues and $24.0 million of costs for the comparable period of 2008.</font></div> <div style="DISPLAY: block; TEXT-INDENT: 0pt"> <br /></div> <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">During the six months ended June 30, 2009, Rowan recognized approximately $50.6 million of manufacturing revenues and $35.5 million of manufacturing costs on the percentage-of-completion basis, as compared to $80.5 million of revenues and $52.8 million of costs for the comparable period of 2008.</font></div> <div style="DISPLAY: block; TEXT-INDENT: 0pt"> <br /></div></div>
The following table summarizes the status of the Drilling Products and Systems segment’s long-term construction projects in process.  Payments
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This element may be used for the entire long-term contracts or programs disclosure as a single block of text.
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 45
-Paragraph 12, 15, 16
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Statement of Position (SOP)
-Number 81-1
-Paragraph 94
Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 43
-Chapter 11
-Section A
Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 3, 6
-Article 5
Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 43
-Chapter 11
-Section B
Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 43
-Chapter 11
-Section C
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