Business Segments (Tables)

12 Months Ended

Dec. 31, 2019

Business Segments - Financial Information

The following tables summarize selected financial information relating to the Company’s business segments (in thousands):

	Year Ended December 31,
	2019			2018			2017
Revenues:
Contract drilling	$	1,309,988		$	1,432,012		$	1,041,492
Pressure pumping		868,694			1,573,396			1,200,311
Directional drilling		188,786			209,275			45,580
Other operations ⁽¹⁾		122,885			131,028			76,781
Elimination of intercompany revenues ⁽²⁾		(19,668	)		(18,714	)		(7,480	)
Total revenues	$	2,470,685		$	3,326,997		$	2,356,684

Income (loss) before income taxes:
Contract drilling	$	(151,329	)	$	(33,115	)	$	(171,897	)
Pressure pumping		(102,701	)		(77,328	)		21,028
Directional drilling		(52,724	)		(117,497	)		(21	)
Other operations		(54,725	)		(18,221	)		(20,813	)
Corporate		(96,719	)		(93,585	)		(152,792	)
Other operating income, net ⁽³⁾		2,305			17,569			31,957
Provision for bad debts		(5,683	)		—			—
Interest income		6,013			5,597			1,866
Interest expense		(75,204	)		(51,578	)		(37,472	)
Other		389			750			343
Loss before income taxes	$	(530,378	)	$	(367,408	)	$	(327,801	)

Depreciation, depletion, amortization and impairment:
Contract drilling	$	668,007		$	571,607		$	538,891
Pressure pumping		233,952			250,010			198,006
Directional drilling		52,223			45,317			9,347
Other operations		42,803			41,512			29,402
Corporate		6,888			7,872			7,695
Total depreciation, depletion, amortization and impairment	$	1,003,873		$	916,318		$	783,341

Capital expenditures:
Contract drilling	$	194,416		$	394,595		$	354,425
Pressure pumping		105,803			173,848			171,436
Directional drilling		15,549			35,929			7,795
Other operations		27,132			34,660			31,547
Corporate		4,612			2,426			1,884
Total capital expenditures	$	347,512		$	641,458		$	567,087

Identifiable assets:
Contract drilling	$	3,190,463		$	3,817,638		$	3,931,994
Pressure pumping		695,570			921,237			1,209,424
Directional drilling		164,273			239,341			301,275
Other operations		128,290			177,374			172,094
Corporate ⁽⁴⁾		261,019			314,276			144,069
Total assets	$	4,439,615		$	5,469,866		$	5,758,856

⁽¹⁾	Other operations includes the Company’s oilfield rentals business, drilling equipment service business, the electrical controls and automation business, the oil and natural gas working interests and Middle East organizational activities.

⁽²⁾	Intercompany revenues consists of contract drilling and revenues from other operations for services provided to contract drilling, pressure pumping and within other operations.

⁽³⁾

Other operating income, net includes net gains associated with the disposal of assets related to corporate strategy decisions of the executive management group. Accordingly, the related gains have been excluded from the operating results of specific segments. This caption also includes certain legal-related expenses and settlements, net of insurance reimbursements and certain research and development expenses.

⁽⁴⁾	Corporate assets primarily include cash on hand and certain property and equipment.