BUSINESS SEGMENTS AND GEOGRAPHIC INFORMATION (Tables)

6 Months Ended

Mar. 31, 2023

Schedule of Financial Information of Reportable Segments

Summarized financial information of our reportable segments for the three and six months ended March 31, 2023 and 2022 is shown in the following tables:


	Three Months Ended March 31, 2023
(in thousands)	North America Solutions		Offshore Gulf of Mexico		International Solutions		Other		Eliminations		Total
External sales	$	675,780	$	34,979	$	55,890	$	2,573	$	—	$	769,222
Intersegment	—		—		—		17,662		(17,662)		—
Total sales	675,780		34,979		55,890		20,235		(17,662)		769,222

Segment operating income	$	182,149	$	6,687	$	3,955	$	6,823	$	(2,267)	$	197,347


	Three Months Ended March 31, 2022
(in thousands)	North America Solutions		Offshore Gulf of Mexico		International Solutions		Other		Eliminations		Total
External sales	$	408,814	$	29,147	$	27,422	$	2,214	$	—	$	467,597
Intersegment	—		—		—		13,204		(13,204)		—
Total sales	408,814		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


	Six Months Ended March 31, 2023
(in thousands)	North America Solutions		Offshore Gulf of Mexico		International Solutions		Other		Eliminations		Total
External sales	$	1,302,943	$	70,143	$	110,691	$	5,082	$	—	$	1,488,859
Intersegment	—		—		—		34,064		(34,064)		—
Total sales	1,302,943		70,143		110,691		39,146		(34,064)		1,488,859

Segment operating income	$	327,446	$	13,433	$	5,529	$	11,500	$	43	$	357,951


	Six Months Ended March 31, 2022
(in thousands)	North America Solutions		Offshore Gulf of Mexico		International Solutions		Other		Eliminations		Total
External sales	$	749,848	$	58,461	$	64,581	$	4,489	$	—	$	877,379
Intersegment	—		—		—		26,852		(26,852)		—
Total sales	749,848		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)

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 March 31,				Six Months Ended March 31,
(in thousands)	2023		2022		2023		2022
Segment operating income (loss)	$	197,347	$	6,863	$	357,951	$	(5,868)
Gain on reimbursement of drilling equipment	11,574		6,448		27,298		11,702
Other gain (loss) on sale of assets	2,519		716		4,898		(313)
Corporate selling, general and administrative costs, corporate depreciation and corporate restructuring charges	(36,235)		(36,644)		(70,719)		(70,749)
Operating income (loss) from continuing operations	175,205		(22,617)		319,428		(65,228)
Other income (expense)
Interest and dividend income	5,055		3,399		9,760		5,988
Interest expense	(4,239)		(4,390)		(8,594)		(10,504)
Gain on investment securities	39,752		22,132		24,661		69,994

Loss on extinguishment of debt	—		—		—		(60,083)
Other	(743)		(476)		(1,403)		(1,018)
Total unallocated amounts	39,825		20,665		24,424		4,377
Income (loss) from continuing operations before income taxes	$	215,030	$	(1,952)	$	343,852	$	(60,851)

Schedule of Total Assets by Reportable Segment

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


(in thousands)	March 31, 2023		September 30, 2022
Total assets1
North America Solutions	$	3,445,085	$	3,406,824
Offshore Gulf of Mexico	82,935		80,993
International Solutions	401,629		330,974
Other	149,441		120,305
	4,079,090		3,939,096
Investments and corporate operations	286,643		416,435
	$	4,365,733	$	4,355,531

(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 March 31,				Six Months Ended March 31,
(in thousands)	2023		2022		2023		2022
Operating revenues
United States	$	712,302	$	439,793	$	1,376,475	$	811,282
Argentina	35,490		15,450		69,324		44,601
Bahrain	4,198		4,826		6,467		12,459
United Arab Emirates	2,542		1,524		4,879		1,524
Colombia	13,652		5,622		30,021		5,997
Other foreign	1,038		382		1,693		1,516
Total	$	769,222	$	467,597	$	1,488,859	$	877,379