Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheet

v2.4.0.6
Consolidated Balance Sheet (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2011
Dec. 31, 2010
Current assets:    
Cash and cash equivalents $ 97,869 $ 51,431
Accounts and notes receivable, net of allowance for bad debts of $1,544 in 2011 and $7,020 in 2010 183,923 168,876
Rig materials and supplies 29,947 25,527
Deferred costs 3,249 2,229
Deferred income taxes 6,650 9,278
Other tax assets 25,358 46,429
Assets held for sale 5,315 5,287
Other current assets 15,302 59,067
Total current assets 367,613 368,124
Property, plant and equipment, at cost:    
Drilling equipment 1,094,366 996,255
Rental tools 310,429 269,474
Buildings, land and improvements 33,817 31,918
Other 57,111 54,806
Construction in progress 194,362 338,873
Total property, plant and equipment, at cost 1,690,085 1,691,326
Less accumulated depreciation and amortization 970,276 875,179
Property, plant and equipment, net 719,809 816,147
Other assets:    
Rig materials and supplies 10,395 13,930
Debt issuance costs 7,025 9,214
Deferred income taxes 108,311 61,016
Other assets 3,093 6,124
Total other assets 128,824 90,284
Total assets 1,216,246 1,274,555
Current liabilities:    
Current portion of long-term debt 145,723 12,000
Accounts payable 76,706 107,894
Accrued liabilities 58,544 50,877
Accrued income taxes 4,837 4,492
Total current liabilities 285,810 175,263
Long-term debt 337,000 460,862
Other long-term liabilities 33,452 30,193
Long-term deferred tax liability 15,934 20,171
Commitments and contingencies (Note 13)      
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, 117,061,203 shares (116,369,044 shares in 2010) 19,508 19,397
Capital in excess of par value 637,042 630,409
Accumulated deficit (111,944) (61,493)
Total controlling interest stockholders' equity 544,606 588,313
Noncontrolling interest (556) (247)
Total equity 544,050 588,066
Total liabilities and stockholders' equity $ 1,216,246 $ 1,274,555