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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
 12 Months Ended
Sep. 30, 2012
Accounting Policies [Abstract]  
Estimated Useful Lives of Assets
Our estimated useful lives of our various classifications of assets are as follows:
 
 
Years
Drilling vessels and related equipment
5-35
Drill pipe
3
Furniture and other
3-10
Computation of Basic and Diluted Earnings Per Share
The computation of basic and diluted earnings per share for each of the past three fiscal years is as follows (in thousands, except per share amounts):
 
 
Net Income
 
Shares
 
Per Share
Amount
Fiscal 2012
 
 
 
 
 
Basic earnings per share
$
272,171

 
65,267

 
$
4.17

Effect of dilutive securities—
 
 
 
 
 
Stock options
—

 
514

 
(0.03
)
Diluted earnings per share
$
272,171

 
65,781

 
$
4.14

Fiscal 2011
 
 
 
 
 
Basic earnings per share
$
271,674

 
64,754

 
$
4.20

Effect of dilutive securities—
 
 
 
 
 
Stock options
—

 
649

 
(0.05
)
Diluted earnings per share
$
271,674

 
65,403

 
$
4.15

Fiscal 2010
 
 
 
 
 
Basic earnings per share
$
256,996

 
64,391

 
$
3.99

Effect of dilutive securities—
 
 
 
 
 
Stock options
—

 
637

 
(0.04
)
Diluted earnings per share
$
256,996

 
65,028

 
$
3.95