Unaudited Quarterly Financial Data

12 Months Ended

Dec. 31, 2012

16. Unaudited Quarterly Financial Data

Unaudited summarized financial data by quarter for the years ended December 31, 2012 and 2011 is shown below.


	First Quarter		Second Quarter		Third Quarter		Fourth Quarter
	(In thousands, except per share data)

2012
Revenues	$	768,642	$	738,188	$	729,141	$	750,537
Operating income^(a)		265,410		257,184		244,822		194,962
Income before income tax expense		251,435		246,758		234,847		185,041
Net income		185,169		201,461		178,186		155,661
Net income per share:
Basic	$	1.33	$	1.45	$	1.28	$	1.12
Diluted	$	1.33	$	1.45	$	1.28	$	1.12

2011
Revenues	$	806,389	$	889,496	$	878,177	$	748,357
Operating income		319,265		367,596		350,277		218,276
Income before income tax expense		296,849		344,026		334,849		203,547
Net income ^(b)		250,612		266,586		256,854		188,490
Net income per share:
Basic	$	1.80	$	1.92	$	1.85	$	1.36
Diluted	$	1.80	$	1.92	$	1.85	$	1.36

(a)

Results for the fourth quarter of 2012 include a $62.4 million impairment charge related to rigs transferred to “Assets held for sale” in our Consolidated Balance Sheets at December 31, 2012. See Note 1.

(b)

Results for the fourth quarter of 2011 reflect a reduction in income tax expense, primarily as a result of a year-end true up related to foreign taxes.

- Definition

The entire disclosure for the quarterly financial data in the annual financial statements. The disclosure may include a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income or loss before extraordinary items and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished.

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