GUARANTOR AND NON-GUARANTOR FINANCIAL INFORMATION (Tables)

12 Months Ended

Sep. 30, 2018

GUARANTOR AND NON-GUARANTOR FINANCIAL INFORMATION

Schedule of Condensed Consolidating Balance Sheets

CONDENSED CONSOLIDATING BALANCE SHEETS

	September 30, 2018
			Helmerich & Payne
	Helmerich & Payne, Inc.		International Drilling Co.		Non-Guarantor				Total
(In thousands)	(Guarantor)		(Issuer)		Subsidiaries		Eliminations		Consolidated
Assets
Current assets:
Cash and cash equivalents	$	—	$	273,214	$	11,141	$	—	$	284,355
Short-term investments		—		41,461		—		—		41,461
Accounts receivable, net of allowance		(29)		499,644		65,859		(272)		565,202
Inventories of materials and supplies		—		127,154		30,980		—		158,134
Prepaid expenses and other		20,783		10,649		35,539		(573)		66,398
Total current assets		20,754		952,122		143,519		(845)		1,115,550
Investments		16,200		82,496		—		—		98,696
Property, plant and equipment, net		46,859		4,515,077		295,446		—		4,857,382
Intercompany receivables		161,532		2,024,652		294,206		(2,480,390)		—
Goodwill		—		—		64,777		—		64,777
Intangible assets, net		—		—		73,207		—		73,207
Other assets		268		907		4,080		—		5,255
Investment in subsidiaries		5,981,197		172,513		—		(6,153,710)		—
Total assets	$	6,226,810	$	7,747,767	$	875,235	$	(8,634,945)	$	6,214,867
Liabilities and Shareholders' Equity
Current liabilities:
Accounts payable	$	83,819	$	43,626	$	5,483	$	(264)	$	132,664
Accrued liabilities		43,449		164,542		37,093		(580)		244,504
Total current liabilities		127,268		208,168		42,576		(844)		377,168
Noncurrent liabilities:
Long-term debt		—		493,968		—		—		493,968
Deferred income taxes		(7,112)		834,714		25,534		—		853,136
Intercompany payables		1,701,694		178,759		599,837		(2,480,290)		—
Other		22,225		48,836		22,545		—		93,606
Noncurrent liabilities - discontinued operations		—		—		14,254		—		14,254
Total noncurrent liabilities		1,716,807		1,556,277		662,170		(2,480,290)		1,454,964
Shareholders’ equity:
Common stock		11,201		100		—		(100)		11,201
Additional paid-in capital		500,393		52,437		1,040		(53,477)		500,393
Retained earnings		4,027,779		5,910,955		169,449		(6,080,404)		4,027,779
Accumulated other comprehensive income		16,550		19,830		—		(19,830)		16,550
Treasury stock, at cost		(173,188)		—		—		—		(173,188)
Total shareholders’ equity		4,382,735		5,983,322		170,489		(6,153,811)		4,382,735
Total liabilities and shareholders’ equity	$	6,226,810	$	7,747,767	$	875,235	$	(8,634,945)	$	6,214,867

	September 30, 2017
			Helmerich & Payne
	Helmerich & Payne, Inc.		International Drilling Co.		Non-Guarantor				Total
(In thousands)	(Guarantor)		(Issuer)		Subsidiaries		Eliminations		Consolidated
Assets
Current assets:
Cash and cash equivalents	$	—	$	507,504	$	13,871	$	—	$	521,375
Short-term investments		—		44,491		—		—		44,491
Accounts receivable, net of allowance		766		411,599		64,714		(5)		477,074
Inventories of materials and supplies		—		102,470		34,734		—		137,204
Prepaid expenses and other		12,200		6,383		36,982		(442)		55,123
Total current assets		12,966		1,072,447		150,301		(447)		1,235,267
Investments		13,853		70,173		—		—		84,026
Property, plant and equipment, net		49,851		4,609,144		342,056		—		5,001,051
Intercompany receivables		90,885		1,746,662		248,540		(2,086,087)		—
Goodwill		—		—		51,705		—		51,705
Intangible assets, net		—		—		50,785		—		50,785
Other assets		4,955		3,839		8,360		—		17,154
Investment in subsidiaries		5,470,050		183,382		—		(5,653,432)		—
Total assets	$	5,642,560	$	7,685,647	$	851,747	$	(7,739,966)	$	6,439,988
Liabilities and Shareholders' Equity
Current liabilities:
Accounts payable	$	82,947	$	48,092	$	4,589	$	—	$	135,628
Accrued liabilities		26,698		148,491		34,015		(447)		208,757
Total current liabilities		109,645		196,583		38,604		(447)		344,385
Noncurrent liabilities:
Long-term debt		—		492,902		—		—		492,902
Deferred income taxes		(11,201)		1,286,381		57,509		—		1,332,689
Intercompany payables		1,354,068		210,823		521,096		(2,085,987)		—
Other		25,457		43,471		32,481		—		101,409
Noncurrent liabilities - discontinued operations		—		—		4,012		—		4,012
Total noncurrent liabilities		1,368,324		2,033,577		615,098		(2,085,987)		1,931,012
Shareholders’ equity:
Common stock		11,196		100		—		(100)		11,196
Additional paid-in capital		487,248		52,437		1,039		(53,476)		487,248
Retained earnings		3,855,686		5,396,212		197,006		(5,593,218)		3,855,686
Accumulated other comprehensive income		2,300		6,738		—		(6,738)		2,300
Treasury stock, at cost		(191,839)		—		—		—		(191,839)
Total shareholders’ equity		4,164,591		5,455,487		198,045		(5,653,532)		4,164,591
Total liabilities and shareholders’ equity	$	5,642,560	$	7,685,647	$	851,747	$	(7,739,966)	$	6,439,988

Schedule of Condensed Consolidating Statements of Operations

CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS

	Year Ended September 30, 2018
			Helmerich & Payne
	Helmerich & Payne, Inc.		International Drilling Co.		Non-Guarantor				Total
(In thousands)	(Guarantor)		(Issuer)		Subsidiaries		Eliminations		Consolidated
Operating revenue	$	—	$	2,210,695	$	276,660	$	(87)	$	2,487,268
Operating costs and other		14,276		2,120,465		321,863		(938)		2,455,666
Operating income (loss) from continuing operations		(14,276)		90,230		(45,203)		851		31,602
Other income (expense), net		526		7,363		1,466		(851)		8,504
Interest expense		(499)		(20,426)		(3,340)		—		(24,265)
Equity in net income (loss) of subsidiaries		498,055		(11,039)		—		(487,016)		—
Income (loss) from continuing operations before income taxes		483,806		66,128		(47,077)		(487,016)		15,841
Income tax (benefit) provision		1,134		(448,613)		(29,690)		—		(477,169)
Income (loss) from continuing operations		482,672		514,741		(17,387)		(487,016)		493,010
Income from discontinued operations before income taxes		—		—		23,389		—		23,389
Income tax provision		—		—		33,727		—		33,727
Loss from discontinued operations		—		—		(10,338)		—		(10,338)
Net income (loss)	$	482,672	$	514,741	$	(27,725)	$	(487,016)	$	482,672

	Year Ended September 30, 2017
			Helmerich & Payne
	Helmerich & Payne, Inc.		International Drilling Co.		Non-Guarantor				Total
(In thousands)	(Guarantor)		(Issuer)		Subsidiaries		Eliminations		Consolidated
Operating revenue	$	—	$	1,575,787	$	229,021	$	(67)	$	1,804,741
Operating costs and other		16,566		1,707,473		254,125		(882)		1,977,282
Operating income (loss) from continuing operations		(16,566)		(131,686)		(25,104)		815		(172,541)
Other income (expense), net		(240)		7,342		1,403		(815)		7,690
Interest expense		(398)		(20,136)		787		—		(19,747)
Equity in net income (loss) of subsidiaries		(116,212)		(8,012)		—		124,224		—
Income (loss) from continuing operations before income taxes		(133,416)		(152,492)		(22,914)		124,224		(184,598)
Income tax benefit		(5,204)		(38,600)		(12,931)		—		(56,735)
Income (loss) from continuing operations		(128,212)		(113,892)		(9,983)		124,224		(127,863)
Income from discontinued operations before income taxes		—		—		3,285		—		3,285
Income tax provision		—		—		3,634		—		3,634
Loss from discontinued operations		—		—		(349)		—		(349)
Net income (loss)	$	(128,212)	$	(113,892)	$	(10,332)	$	124,224	$	(128,212)

	Year Ended September 30, 2016
			Helmerich & Payne
	Helmerich & Payne, Inc.		International Drilling Co.		Non-Guarantor				Total
(In thousands)	(Guarantor)		(Issuer)		Subsidiaries		Eliminations		Consolidated
Operating revenue	$	—	$	1,373,511	$	250,791	$	(70)	$	1,624,232
Operating costs and other		13,145		1,358,269		280,107		(1,323)		1,650,198
Operating income (loss) from continuing operations		(13,145)		15,242		(29,316)		1,253		(25,966)
Other expense, net		(194)		(22,243)		(98)		(1,253)		(23,788)
Interest expense		(375)		(20,256)		(2,282)		—		(22,913)
Equity in net income (loss) of subsidiaries		(47,166)		(14,472)		—		61,638		—
Loss from continuing operations before income taxes		(60,880)		(41,729)		(31,696)		61,638		(72,667)
Income tax (benefit) provision		(4,052)		5,127		(20,752)		—		(19,677)
Income (loss) from continuing operations		(56,828)		(46,856)		(10,944)		61,638		(52,990)
Income from discontinued operations before income taxes		—		—		2,360		—		2,360
Income tax provision		—		—		6,198		—		6,198
Loss from discontinued operations		—		—		(3,838)		—		(3,838)
Net income (loss)	$	(56,828)	$	(46,856)	$	(14,782)	$	61,638	$	(56,828)

Schedule of Condensed Consolidating Statements of Comprehensive Income (Loss)

CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME (LOSS)

	Year Ended September 30, 2018
			Helmerich & Payne
	Helmerich & Payne, Inc.		International Drilling Co.		Non-Guarantor				Total
(In thousands)	(Guarantor)		(Issuer)		Subsidiaries		Eliminations		Consolidated
Net income (loss)	$	482,672	$	514,741	$	(27,725)	$	(487,016)	$	482,672
Other comprehensive income, net of income taxes:
Unrealized appreciation on securities, net		—		9,001		—		—		9,001
Minimum pension liability adjustments, net		1,137		4,112		—		—		5,249
Other comprehensive income		1,137		13,113		—		—		14,250
Comprehensive income (loss)	$	483,809	$	527,854	$	(27,725)	$	(487,016)	$	496,922

	Year Ended September 30, 2017
			Helmerich & Payne
	Helmerich & Payne, Inc.		International Drilling Co.		Non-Guarantor				Total
(In thousands)	(Guarantor)		(Issuer)		Subsidiaries		Eliminations		Consolidated
Net loss	$	(128,212)	$	(113,892)	$	(10,332)	$	124,224	$	(128,212)
Other comprehensive income, net of income taxes:
Unrealized depreciation on securities, net		—		(829)		—		—		(829)
Minimum pension liability adjustments, net		860		2,473		—		—		3,333
Other comprehensive income		860		1,644		—		—		2,504
Comprehensive loss	$	(127,352)	$	(112,248)	$	(10,332)	$	124,224	$	(125,708)

	Year Ended September 30, 2016
			Helmerich & Payne
	Helmerich & Payne, Inc.		International Drilling Co.		Non-Guarantor				Total
(In thousands)	(Guarantor)		(Issuer)		Subsidiaries		Eliminations		Consolidated
Net loss	$	(56,828)	$	(46,856)	$	(14,782)	$	61,638	$	(56,828)
Other comprehensive loss, net of income taxes:
Unrealized appreciation on securities, net		—		2,772		—		—		2,772
Reclassification of realized losses in net income, net		—		926		—		—		926
Minimum pension liability adjustments, net		(63)		(2,462)		—		—		(2,525)
Other comprehensive income (loss)		(63)		1,236		—		—		1,173
Comprehensive loss	$	(56,891)	$	(45,620)	$	(14,782)	$	61,638	$	(55,655)

Schedule of Condensed Consolidating Statements of Cash Flows

CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS

	Year Ended September 30, 2018
			Helmerich & Payne
	Helmerich & Payne, Inc.		International Drilling Co.		Non-Guarantor				Total
(In thousands)	(Guarantor)		(Issuer)		Subsidiaries		Eliminations		Consolidated
Net cash provided by operating activities	$	759	$	539,476	$	4,296	$	—	$	544,531
Cash flows from investing activities:
Capital expenditures		(12,723)		(443,743)		(10,118)		—		(466,584)
Purchase of short-term investments		—		(71,049)		—		—		(71,049)
Payment for acquisition of business, net of cash acquired		(47,886)		—		—		—		(47,886)
Proceeds from sale of short-term investments		—		68,776		—		—		68,776
Intercompany transfers		60,609		(60,609)		—		—		—
Proceeds from asset sales		—		41,289		3,092		—		44,381
Net cash used in investing activities		—		(465,336)		(7,026)		—		(472,362)
Cash flows from financing activities:
Intercompany transfers		308,430		(308,430)		—		—		—
Dividends paid		(308,430)		—		—		—		(308,430)
Payments for employee taxes on net settlement of equity awards		(7,114)		—		—		—		(7,114)
Proceeds from stock option exercises		6,355		—		—		—		6,355
Net cash provided by (used in) financing activities		(759)		(308,430)		—		—		(309,189)
Net increase (decrease) in cash and cash equivalents		—		(234,290)		(2,730)		—		(237,020)
Cash and cash equivalents, beginning of period		—		507,504		13,871		—		521,375
Cash and cash equivalents, end of period	$	—	$	273,214	$	11,141	$	—	$	284,355

	Year Ended September 30, 2017, as adjusted
			Helmerich & Payne
	Helmerich & Payne, Inc.		International Drilling Co.		Non-Guarantor				Total
(In thousands)	(Guarantor)		(Issuer)		Subsidiaries		Eliminations		Consolidated
Net cash (used in) provided by operating activities	$	(4,686)	$	354,711	$	11,606	$	—	$	361,631
Cash flows from investing activities:
Capital expenditures		(4,264)		(387,392)		(5,911)		—		(397,567)
Purchase of short-term investments		—		(69,866)		—		—		(69,866)
Payment for acquisition of business, net cash acquired		(70,416)		—		—		—		(70,416)
Proceeds from sale of short-term investments		—		69,449		—		—		69,449
Intercompany transfers		74,680		(74,680)		—		—		—
Proceeds from asset sales		—		22,724		688		—		23,412
Net cash used in investing activities		—		(439,765)		(5,223)		—		(444,988)
Cash flows from financing activities:
Intercompany transfers		305,515		(305,515)		—		—		—
Dividends paid		(305,515)		—		—		—		(305,515)
Payments for employee taxes on net settlement of equity awards		(6,599)		—		—		—		(6,599)
Proceeds from stock option exercises		11,285		—		—		—		11,285
Net cash provided by (used in) financing activities		4,686		(305,515)		—		—		(300,829)
Net increase (decrease) in cash and cash equivalents		—		(390,569)		6,383		—		(384,186)
Cash and cash equivalents, beginning of period		—		898,073		7,488		—		905,561
Cash and cash equivalents, end of period	$	—	$	507,504	$	13,871	$	—	$	521,375

	September 30, 2016, as adjusted
			Helmerich & Payne
	Helmerich & Payne, Inc.		International Drilling Co.		Non-Guarantor				Total
(In thousands)	(Guarantor)		(Issuer)		Subsidiaries		Eliminations		Consolidated
Net cash provided by (used in) operating activities	$	2,863	$	777,756	$	(26,088)	$	—	$	754,531
Cash flows from investing activities:
Capital expenditures		(16,119)		(235,078)		(5,972)		—		(257,169)
Purchase of short-term investments		—		(57,276)		—		—		(57,276)
Proceeds from sale of short-term investments		—		58,381		—		—		58,381
Intercompany transfers		16,119		(16,119)		—		—		—
Proceeds from asset sales		9		19,237		2,599		—		21,845
Net cash provided by (used in) investing activities		9		(230,855)		(3,373)		—		(234,219)
Cash flows from financing activities:
Payments on long-term debt		—		(40,000)		—		—		(40,000)
Debt issuance costs		—		(1,111)		—		—		(1,111)
Intercompany transfers		300,152		(300,152)		—		—		—
Dividends paid		(300,152)		—		—		—		(300,152)
Payments from employee taxes on net settlement of equity awards		(5,646)		—		—		—		(5,646)
Proceeds from stock option exercises		2,774		—		—		—		2,774
Net cash used in financing activities		(2,872)		(341,263)		—		—		(344,135)
Net increase (decrease) in cash and cash equivalents		—		205,638		(29,461)		—		176,177
Cash and cash equivalents, beginning of period		—		692,435		36,949		—		729,384
Cash and cash equivalents, end of period	$	—	$	898,073	$	7,488	$	—	$	905,561