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Condensed Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Mar. 31, 2021
Mar. 31, 2020
Operating revenues        
Drilling services $ 294,026 $ 630,290 $ 538,807 $ 1,241,688
Other 2,145 3,349 3,741 6,608
Total operating revenues 296,171 633,639 542,548 1,248,296
Operating costs and expenses        
Drilling services operating expenses, excluding depreciation and amortization 230,313 417,743 429,002 817,072
Other operating expenses 1,274 1,315 2,636 2,737
Depreciation and amortization 106,417 132,006 213,278 262,137
Research and development 5,334 6,214 10,917 13,092
Selling, general and administrative 39,349 41,978 78,652 91,786
Asset impairment charge 54,284 563,234 54,284 563,234
Restructuring charges 1,608 0 1,746 0
(Gain) loss on sale of assets 18,515 (10,310) 6,179 (14,589)
Total operating costs and expenses 457,094 1,152,180 796,694 1,735,469
Operating loss from continuing operations (160,923) (518,541) (254,146) (487,173)
Other income (expense)        
Interest and dividend income 4,819 3,566 6,698 5,780
Interest expense (5,759) (6,095) (11,898) (12,195)
Gain (loss) on investment securities 2,520 (12,413) 5,444 (9,592)
Gain on sale of subsidiary 0 0 0 14,963
Other (577) (398) (2,057) (797)
Total other income (expense) 1,003 (15,340) (1,813) (1,841)
Loss from continuing operations before income taxes (159,920) (533,881) (255,959) (489,014)
Income tax benefit (36,624) (113,413) (54,739) (99,275)
Loss from continuing operations (123,296) (420,468) (201,220) (389,739)
Income from discontinued operations before income taxes 2,293 6,067 9,786 13,524
Income tax provision 0 6,139 0 13,720
Income (loss) from discontinued operations 2,293 (72) 9,786 (196)
Net loss $ (121,003) $ (420,540) $ (191,434) $ (389,935)
Basic earnings (loss) per common share:        
Loss from continuing operations (in dollars per share) $ (1.15) $ (3.88) $ (1.87) $ (3.61)
Income from discontinued operations (in dollars per share) 0.02 0 0.09 0
Net loss (in dollars per share) (1.13) (3.88) (1.78) (3.61)
Diluted earnings (loss) per common share:        
Loss from continuing operations (in dollars per share) (1.15) (3.88) (1.87) (3.61)
Income from discontinued operations (in dollars per share) 0.02 0 0.09 0
Net loss (in dollars per share) $ (1.13) $ (3.88) $ (1.78) $ (3.61)
Weighted average shares outstanding:        
Basic (in shares) 107,861 108,557 107,738 108,556
Diluted (in shares) 107,861 108,557 107,738 108,556