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Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands, unless otherwise specified
6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Operating activities:    
Net income $ 386,630 $ 517,198
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 200,862 202,348
Gain on disposition of assets (79,077) (3,881)
Loss (gain) on foreign currency forward exchange contracts 2,977 (7,231)
Deferred tax provision (1,101) (15,623)
Accretion of discounts on marketable securities 3,626 (231)
Stock-based compensation expense 2,500 2,920
Deferred income, net (7,517) (32,490)
Deferred expenses, net 46,379 54,789
Other assets, noncurrent 2,310 (217)
Other liabilities, noncurrent 4,486 424
(Payments of) proceeds from settlement of foreign currency forward exchange contracts designated as accounting hedges (2,977) 7,231
Other 526 (229)
Changes in operating assets and liabilities:    
Accounts receivable 31,424 51,147
Prepaid expenses and other current assets (16,188) (24,137)
Accounts payable and accrued liabilities (7,087) (33,070)
Taxes payable 45,572 4,691
Net cash provided by operating activities 613,345 723,639
Investing activities:    
Capital expenditures (including rig construction) (384,693) (578,841)
Proceeds from disposition of assets, net of disposal costs 136,618 4,205
Proceeds from sale and maturities of marketable securities 1,400,050 3,312,089
Purchases of marketable securities (1,477,115) (3,399,797)
Net cash used in investing activities (325,140) (662,344)
Financing activities:    
Payment of dividends (245,732) (245,812)
Other 121  
Net cash used in financing activities (245,611) (245,812)
Net change in cash and cash equivalents 42,594 (184,517)
Cash and cash equivalents, beginning of period 333,765 464,393
Cash and cash equivalents, end of period $ 376,359 $ 279,876