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BUSINESS SEGMENTS AND GEOGRAPHIC INFORMATION
 6 Months Ended
Mar. 31, 2022
Segment Reporting [Abstract]  
BUSINESS SEGMENTS AND GEOGRAPHIC INFORMATION
NOTE 14 BUSINESS SEGMENTS AND GEOGRAPHIC INFORMATION
Description of the Business
We are a performance-driven drilling solutions and technologies company based in Tulsa, Oklahoma with operations in all major U.S. onshore oil and gas producing basins as well as South America and the Middle East. Our drilling operations consist mainly of contracting Company-owned drilling equipment primarily to large oil and gas exploration companies.  We believe we are the recognized industry leader in drilling as well as technological innovation. We focus on offering our customers an integrated solutions-based approach by combining proprietary rig technology, automation software, and digital expertise into our rig operations rather than a product-based offering, such as a rig or separate technology package. Our drilling services operations are organized into the following reportable operating business segments: North America Solutions, Offshore Gulf of Mexico and International Solutions. 
Each reportable operating segment is a strategic business unit that is managed separately, and consolidated revenues and expenses reflect the elimination of all material intercompany transactions. Our real estate operations, our incubator program for new research and development projects, and our wholly-owned captive insurance companies are included in "Other." External revenues included in “Other” primarily consist of rental income.
Segment Performance
We evaluate segment performance based on income or loss from continuing operations (segment operating income (loss)) before income taxes which includes:
•Revenues from external and internal customers
•Direct operating costs
•Depreciation and amortization
•Allocated general and administrative costs
•Asset impairment charges
•Restructuring charges
but excludes gain on reimbursement of drilling equipment, other (gain) loss on sale of assets, corporate selling, general and administrative costs, corporate depreciation, and corporate restructuring charges.
General and administrative costs are allocated to the segments based primarily on specific identification and, to the extent that such identification is not practical, other methods may be used which we believe to be a reasonable reflection of the utilization of services provided.
Summarized financial information of our reportable segments for the three and six months ended March 31, 2022 and 2021 is shown in the following tables:
Three Months Ended March 31, 2022
(in thousands)North America SolutionsOffshore Gulf of MexicoInternational SolutionsOtherEliminationsTotal
External sales$408,814 $29,147 $27,422 $2,214 $— $467,597 
Intersegment— — — 13,204 (13,204)— 
Total sales408,814 29,147 27,422 15,418 (13,204)467,597 
Segment operating income (loss)1,297 5,278 (848)3,167 (2,031)6,863 
Three Months Ended March 31, 2021
(in thousands)North America SolutionsOffshore Gulf of MexicoInternational SolutionsOtherEliminationsTotal
External sales$249,939 $29,274 $14,813 $2,145 $— $296,171 
Intersegment— — — 8,680 (8,680)— 
Total sales249,939 29,274 14,813 10,825 (8,680)296,171 
Segment operating income (loss)(109,834)2,978 (3,458)(1,072)(3,433)(114,819)
Six Months Ended March 31, 2022
(in thousands)North America SolutionsOffshore Gulf of MexicoInternational SolutionsOtherEliminationsTotal
External sales$749,848 $58,461 $64,581 $4,489 $— $877,379 
Intersegment— — — 26,852 (26,852)— 
Total sales749,848 58,461 64,581 31,341 (26,852)877,379 
Segment operating income (loss)(27,596)10,744 7,201 7,096 (3,313)(5,868)
Six Months Ended March 31, 2021
(in thousands)North America SolutionsOffshore Gulf of MexicoInternational SolutionsOtherEliminationsTotal
External sales$451,929 $61,547 $25,331 $3,741 $— $542,548 
Intersegment— — — 15,802 (15,802)— 
Total sales451,929 61,547 25,331 19,543 (15,802)542,548 
Segment operating income (loss)(182,762)5,720 (11,815)3,039 (5,559)(191,377)
The following table reconciles segment operating income (loss) per the tables above to loss from continuing operations before income taxes as reported on the Unaudited Condensed Consolidated Statements of Operations:
Three Months Ended March 31,Six Months Ended March 31,
(in thousands)2022202120222021
Segment operating income (loss)$6,863 $(114,819)$(5,868)$(191,377)
Gain on reimbursement of drilling equipment6,448 3,748 11,702 5,939 
Other gain (loss) on sale of assets716 (22,263)(313)(12,118)
Corporate selling, general and administrative costs, corporate depreciation, and corporate restructuring charges(36,644)(27,589)(70,749)(56,590)
Operating loss from continuing operations(22,617)(160,923)(65,228)(254,146)
Other income (expense)
Interest and dividend income3,399 4,819 5,988 6,698 
Interest expense(4,390)(5,759)(10,504)(11,898)
Gain on investment securities22,132 2,520 69,994 5,444 
Loss on extinguishment of debt— — (60,083)— 
Other(476)(577)(1,018)(2,057)
Total unallocated amounts20,665 1,003 4,377 (1,813)
Loss from continuing operations before income taxes$(1,952)$(159,920)$(60,851)$(255,959)
The following table reconciles segment total assets as reported on the Unaudited Condensed Consolidated Balance Sheets:
(in thousands)March 31,
2022		September 30,
2021
Total assets 1
North America Solutions$3,365,225 $3,418,569 
Offshore Gulf of Mexico81,575 84,580 
International Solutions386,832 269,820 
Other105,630 95,398 
3,939,262 3,868,367 
Investments and corporate operations395,088 1,165,761 
$4,334,350 $5,034,128 
(1)Assets by segment exclude investments in subsidiaries and intersegment activity.

The following table presents revenues from external customers by country based on the location of service provided:
Three Months Ended March 31,Six Months Ended March 31,
(in thousands)2022202120222021
Operating revenues
United States$439,793 $280,757 $811,282 $516,201 
Argentina15,450 6,979 44,601 8,532 
Bahrain4,826 6,921 12,459 14,470 
United Arab Emirates1,524 — 1,524 990 
Colombia5,622 946 5,997 1,375 
Other Foreign382 568 1,516 980 
Total$467,597 $296,171 $877,379 $542,548 
Refer to Note 9—Revenue from Contracts with Customers for additional information regarding the recognition of revenue.