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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Mar. 31, 2023
Mar. 31, 2022
OPERATING REVENUES        
Drilling services $ 766,682 $ 465,370 $ 1,483,852 $ 872,904
Other 2,540 2,227 5,007 4,475
Total operating revenues 769,222 467,597 1,488,859 877,379
OPERATING COSTS AND EXPENSES        
Drilling services operating expenses, excluding depreciation and amortization 449,110 339,759 877,361 639,411
Other operating expenses 1,188 1,181 2,314 2,363
Depreciation and amortization 96,255 102,937 192,910 203,374
Research and development 8,702 6,387 15,635 12,914
Selling, general and administrative 52,855 47,051 101,310 90,766
Asset impairment charges 0 0 12,097 4,363
Restructuring charges 0 63 0 805
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)
Total operating costs and expenses 594,017 490,214 1,169,431 942,607
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 0 0 0 (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)
Income tax expense (benefit) 51,129 2,672 83,524 (4,896)
Income (loss) from continuing operations 163,901 (4,624) 260,328 (55,955)
Income (loss) from discontinued operations before income taxes 139 (352) 857 (383)
Income tax expense 0 0 0 0
Income (loss) from discontinued operations 139 (352) 857 (383)
NET INCOME (LOSS) $ 164,040 $ (4,976) $ 261,185 $ (56,338)
Basic earnings (loss) per common share:        
Income (loss) from continuing operations (in dollars per share) $ 1.55 $ (0.05) $ 2.45 $ (0.53)
Income from discontinued operations (in dollars per share) 0 0 0.01 0
Net income (loss) (in dollars per share) 1.55 (0.05) 2.46 (0.53)
Diluted earnings (loss) per common share:        
Income (loss) from continuing operations (in dollars per share) 1.55 (0.05) 2.45 (0.53)
Income from discontinued operations (in dollars per share) 0 0 0.01 0
Net income (loss) (in dollars per share) $ 1.55 $ (0.05) $ 2.46 $ (0.53)
Weighted average shares outstanding:        
Basic (in shares) 103,968 105,393 104,615 106,494
Diluted (in shares) 104,363 105,393 105,003 106,494