BUSINESS SEGMENTS AND GEOGRAPHIC INFORMATION (Tables)

9 Months Ended

Jun. 30, 2022

Schedule of Financial Information of Reportable Segments

Summarized financial information of our reportable segments for the three and nine months ended June 30, 2022 and 2021 is shown in the following tables:


	Three Months Ended June 30, 2022
(in thousands)	North America Solutions		Offshore Gulf of Mexico		International Solutions		Other		Eliminations		Total
External sales	$	486,004	$	32,701	$	29,118	$	2,410	$	—	$	550,233
Intersegment	—		—		—		14,725		(14,725)		—
Total sales	486,004		32,701		29,118		17,135		(14,725)		550,233

Segment operating income (loss)	57,353		5,872		(6,550)		1,965		(2,140)		56,500


	Three Months Ended June 30, 2021
(in thousands)	North America Solutions		Offshore Gulf of Mexico		International Solutions		Other		Eliminations		Total
External sales	$	281,132	$	33,364	$	15,278	$	2,439	$	—	$	332,213
Intersegment	—		—		—		9,379		(9,379)		—
Total sales	281,132		33,364		15,278		11,818		(9,379)		332,213

Segment operating income (loss)	(43,743)		5,707		(3,538)		(4,670)		(3,298)		(49,542)


	Nine Months Ended June 30, 2022
(in thousands)	North America Solutions		Offshore Gulf of Mexico		International Solutions		Other		Eliminations		Total
External sales	$	1,235,852	$	91,162	$	93,699	$	6,899	$	—	$	1,427,612
Intersegment	—		—		—		41,577		(41,577)		—
Total sales	1,235,852		91,162		93,699		48,476		(41,577)		1,427,612

Segment operating income (loss)	29,757		16,616		651		9,061		(5,453)		50,632


	Nine Months Ended June 30, 2021
(in thousands)	North America Solutions		Offshore Gulf of Mexico		International Solutions		Other		Eliminations		Total
External sales	$	733,061	$	94,911	$	40,609	$	6,180	$	—	$	874,761
Intersegment	—		—		—		25,181		(25,181)		—
Total sales	733,061		94,911		40,609		31,361		(25,181)		874,761

Segment operating income (loss)	(226,505)		11,427		(15,353)		(1,631)		(8,857)		(240,919)

Schedule of Reconciliation of Segment Operating Income (Loss) to Income from Continuing Operations Before Income Taxes

The following table reconciles segment operating income (loss) per the tables above to income (loss) from continuing operations before income taxes as reported on the Unaudited Condensed Consolidated Statements of Operations:


	Three Months Ended June 30,				Nine Months Ended June 30,
(in thousands)	2022		2021		2022		2021
Segment operating income (loss)	$	56,500	$	(49,542)	$	50,632	$	(240,919)
Gain on reimbursement of drilling equipment	9,895		4,268		21,597		10,207
Other gain (loss) on sale of assets	3,075		(834)		2,762		(12,952)
Corporate selling, general and administrative costs, corporate depreciation, and corporate restructuring charges	(35,748)		(31,259)		(106,497)		(87,849)
Operating income (loss) from continuing operations	33,722		(77,367)		(31,506)		(331,513)
Other income (expense)
Interest and dividend income	5,313		1,527		11,301		8,225
Interest expense	(4,372)		(5,963)		(14,876)		(17,861)
Gain (loss) on investment securities	(14,310)		2,409		55,684		7,853

Loss on extinguishment of debt	—		—		(60,083)		—
Other	(1,148)		(970)		(2,166)		(3,027)
Total unallocated amounts	(14,517)		(2,997)		(10,140)		(4,810)
Income (loss) from continuing operations before income taxes	$	19,205	$	(80,364)	$	(41,646)	$	(336,323)

Schedule of Total Assets by Reportable Segment

The following table reconciles segment total assets as reported on the Unaudited Condensed Consolidated Balance Sheets:


(in thousands)	June 30, 2022		September 30, 2021
Total assets 1
North America Solutions	$	3,407,213	$	3,418,569
Offshore Gulf of Mexico	79,483		84,580
International Solutions	333,776		269,820
Other	113,342		95,398
	3,933,814		3,868,367
Investments and corporate operations	388,796		1,165,761
	$	4,322,610	$	5,034,128

(1)Assets by segment exclude investments in subsidiaries and intersegment activity.

Schedule of Revenues from External Customers by Country

The following table presents revenues from external customers by country based on the location of service provided:


	Three Months Ended June 30,				Nine Months Ended June 30,
(in thousands)	2022		2021		2022		2021
Operating revenues
United States	$	520,446	$	316,315	$	1,331,728	$	832,516
Argentina	18,615		7,999		63,216		16,532
Bahrain	2,338		6,979		14,797		21,449
United Arab Emirates	2,188		—		3,711		990
Colombia	5,977		300		11,974		1,674
Other Foreign	669		620		2,186		1,600
Total	$	550,233	$	332,213	$	1,427,612	$	874,761