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Description of Business and Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2013
Estimated Useful Lives of Property and Equipment

The estimated useful lives, in years, are shown below:

 

     Useful Lives  

Drilling rigs and other equipment

      1.25-15   

Buildings

      15-20   

Other

      3-12   
Calculation of Income Per Share From Continuing and Discontinued Operations

The following table presents information necessary to calculate income from continuing operations per share, loss from discontinued operations per share and net income per share for the years ended December 31, 2013, 2012 and 2011, as well as potentially dilutive securities excluded from the weighted average number of diluted common shares outstanding because their inclusion would have been anti-dilutive (in thousands, except per share amounts):

 

     2013     2012     2011  

BASIC EPS:

       

Income from continuing operations

    $ 188,009      $ 299,477      $ 322,780   

Adjust for income attributed to holders of non-vested restricted stock

      (1,859 )      (2,532 )      (2,545 ) 
  

 

 

    

 

 

    

 

 

  

Income from continuing operations attributed to common stockholders

    $ 186,150      $ 296,945      $ 320,235   
  

 

 

    

 

 

    

 

 

  

Loss from discontinued operations, net

    $ —      $ —      $ (367 ) 

Adjust for loss attributed to holders of non-vested restricted stock

      —        —        3   
  

 

 

    

 

 

    

 

 

  

Loss from discontinued operations attributed to common stockholders

    $ —      $ —      $ (364 ) 
  

 

 

    

 

 

    

 

 

  

Weighted average number of common shares outstanding, excluding non-vested shares of restricted stock

      144,356        151,144        153,871   
  

 

 

    

 

 

    

 

 

  

Basic income from continuing operations per common share

    $ 1.29      $ 1.96      $ 2.08   

Basic loss from discontinued operations per common share

    $ 0.00      $ 0.00      $ 0.00   

Basic net income per common share

    $ 1.29      $ 1.96      $ 2.08   

DILUTED EPS:

       

Income from continuing operations attributed to common stockholders

    $ 186,150      $ 296,945      $ 320,235   
  

 

 

    

 

 

    

 

 

  

Weighted average number of common shares outstanding, excluding non-vested shares of restricted stock

      144,356        151,144        153,871   

Add dilutive effect of potential common shares

      947        555        1,433   
  

 

 

    

 

 

    

 

 

  

Weighted average number of diluted common shares outstanding

      145,303        151,699        155,304   
  

 

 

    

 

 

    

 

 

  

Diluted income from continuing operations per common share

    $ 1.28      $ 1.96      $ 2.06   

Diluted loss from discontinued operations per common share

    $ 0.00      $ 0.00      $ 0.00   

Diluted net income per common share

    $ 1.28      $ 1.96      $ 2.06   

Potentially dilutive securities excluded as anti-dilutive

      2,447        5,416        1,641