v3.26.3
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Sep. 30, 2026
Sep. 30, 2025
Operating revenues        
Operating revenues $ 728,764 $ 798,017 $ 2,234,142 $ 2,521,156
Operating costs and expenses        
Depreciation and amortization 143,432 147,260 420,354 437,482
General and administrative 27,286 33,301 84,278 103,485
Merger and integration costs 0 2,145 2,615 22,367
(Gain) loss on sale of operating assets, net (2,579) (6,232) (92,437) (10,983)
Loss on impairment 0 60,702 42,270 60,702
Total operating costs and expenses 668,681 747,617 1,918,276 2,148,164
Operating income (loss) 60,083 50,400 315,866 372,992
Other income (expense)        
Interest expense, net of amounts capitalized (34,990) (40,490) (111,752) (120,954)
Gain (loss) on extinguishment of debt, net 0 0 (17,603) 0
Interest income and other, net (9,070) 726 2,791 7,275
Income (loss) before income taxes 16,023 10,636 189,302 259,313
Income tax benefit (provision) (133,047) (31,731) (222,285) (129,233)
Net income (loss) $ (117,024) $ (21,095) $ (32,983) $ 130,080
Basic earnings (loss) per share (in usd per share) $ (0.73) $ (0.13) $ (0.21) $ 0.82
Diluted earnings (loss) per share (in usd per share) $ (0.73) $ (0.13) $ (0.21) $ 0.80
Contract drilling services        
Operating revenues        
Operating revenues $ 683,650 $ 757,405 $ 2,105,647 $ 2,401,910
Operating costs and expenses        
Cost of services 468,516 479,894 1,364,950 1,444,420
Reimbursables and other        
Operating revenues        
Operating revenues 45,114 40,612 128,495 119,246
Operating costs and expenses        
Cost of services $ 32,026 $ 30,547 $ 96,246 $ 90,691