Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEET

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CONSOLIDATED BALANCE SHEET (USD $)
Dec. 31, 2013
Dec. 31, 2012
Current assets:    
Cash and cash equivalents $ 148,689,000 $ 87,886,000
Accounts and notes receivable, net of allowance for bad debts of $12,853 in 2013 and $8,117 in 2012 257,889,000 168,615,000
Rig materials and supplies 41,781,000 29,422,000
Deferred costs 13,682,000 1,089,000
Deferred income taxes 9,940,000 8,742,000
Other tax assets 24,079,000 33,524,000
Other current assets 23,223,000 12,853,000
Total current assets 519,283,000 342,131,000
Property, plant and equipment, at cost:    
Drilling equipment 1,418,582,000 1,232,891,000
Rental tools 395,626,000 337,874,000
Buildings, land and improvements 49,518,000 38,736,000
Other 61,273,000 57,185,000
Construction in progress 82,381,000 190,445,000
Property plant and equipment net 2,007,380,000 1,857,131,000
Less accumulated depreciation and amortization 1,136,024,000 1,063,934,000
Property, plant and equipment, net 871,356,000 793,197,000
Other assets:    
Rig materials and supplies 10,221,000 12,930,000
Debt issuance costs 14,208,000 8,863,000
Deferred income taxes 102,420,000 95,295,000
Other assets 17,268,000 3,317,000
Total other assets 144,117,000 120,405,000
Total assets 1,534,756,000 1,255,733,000
Current liabilities:    
Current portion of long-term debt 25,000,000 10,000,000
Accounts payable 90,033,000 62,090,000
Accrued liabilities 84,853,000 75,656,000
Accrued income taxes 7,266,000 4,120,000
Total current liabilities 207,152,000 151,866,000
Long-term debt 628,781,000 469,205,000
Other long-term liabilities 26,914,000 23,182,000
Long-term deferred tax liability 38,767,000 20,847,000
Commitments and contingencies (Note 15) 0 0
Stockholders' equity:    
Preferred stock, $1 par value, 1,942,000 shares authorized, no shares outstanding      
Common stock, $0.16 2/3 par value, authorized 280,000,000 shares, issued and outstanding, 120,491,164 shares (118,968,396 shares in 2012) 20,075,000 19,818,000
Capital in excess of par value 657,349,000 646,217,000
Accumulated deficit (47,616,000) (74,631,000)
Accumulated Other Comprehensive Income 1,888,000 0
Total controlling interest stockholders' equity 631,696,000 591,404,000
Noncontrolling interest 1,446,000 (771,000)
Total equity 633,142,000 590,633,000
Total liabilities and stockholders' equity $ 1,534,756,000 $ 1,255,733,000