XML 14 R4.htm IDEA: XBRL DOCUMENT v3.19.2
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Revenues:        
Total revenues $ 216,706 $ 268,861 $ 450,248 $ 564,371
Operating expenses:        
Depreciation 88,253 81,825 175,151 163,650
General and administrative 15,294 18,236 32,605 36,749
Impairment of assets   27,225   27,225
Restructuring and separation costs   1,265   4,276
Gain on disposition of assets (9,436) (50) (5,149) (560)
Total operating expenses 328,206 321,236 610,874 616,234
Operating loss (111,500) (52,375) (160,626) (51,863)
Other income (expense):        
Interest income 1,933 2,001 4,346 3,638
Interest expense, net of amounts capitalized (31,159) (29,585) (61,084) (57,903)
Foreign currency transaction (loss) gain (721) 411 (1,806) 858
Other, net 105 262 438 842
Loss before income tax benefit (141,342) (79,286) (218,732) (104,428)
Income tax benefit 27,354 10,012 31,416 54,475
Net loss $ (113,988) $ (69,274) $ (187,316) $ (49,953)
Loss per share, Basic and Diluted $ (0.83) $ (0.50) $ (1.36) $ (0.36)
Weighted-average shares outstanding:        
Shares of common stock 137,691 137,429 137,607 137,362
Total weighted-average shares outstanding 137,691 137,429 137,607 137,362
Contract Drilling [Member]        
Revenues:        
Total revenues $ 207,273 $ 265,353 $ 433,970 $ 553,279
Operating expenses:        
Contract drilling, excluding depreciation 224,782 189,321 392,210 374,010
Reimbursable Expenses [Member]        
Revenues:        
Total revenues 9,433 3,508 16,278 11,092
Operating expenses:        
Contract drilling, excluding depreciation $ 9,313 $ 3,414 $ 16,057 $ 10,884