Annual report pursuant to Section 13 and 15(d)

Parent, Guarantor, Non-Guarantor Unaudited Consolidating Condensed Financial Statements - Statement of Comprehensive Income (Loss) (Details)

v3.3.1.900
Parent, Guarantor, Non-Guarantor Unaudited Consolidating Condensed Financial Statements - Statement of Comprehensive Income (Loss) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Schedule of Condensed Statement of Comprehensive Income [Line Items]      
Condensed Income Statement [Table Text Block]
PARKER DRILLING COMPANY AND SUBSIDIARIES
CONSOLIDATING CONDENSED STATEMENT OF OPERATIONS
(Dollars in Thousands)
(Unaudited)
 
Year ended December 31, 2015
 
Parent
 
Guarantor
 
Non-Guarantor
 
Eliminations
 
Consolidated
Total revenues
$
—

 
$
254,182

 
$
584,204

 
$
(126,203
)
 
$
712,183

Operating expenses
—

 
143,563

 
508,930

 
(126,203
)
 
526,290

Depreciation and amortization
—

 
95,071

 
61,123

 
—

 
156,194

Total operating gross margin
—

 
15,548

 
14,151

 
—

 
29,699

General and administration expense (1)
(1,279
)
 
(38,643
)
 
3,732

 
—

 
(36,190
)
Provision for reduction in carrying value of certain assets
—

 
(2,088
)
 
(10,402
)
 
—

 
(12,490
)
Gain on disposition of assets, net
—

 
439

 
1,204

 
—

 
1,643

Total operating income (loss)
(1,279
)
 
(24,744
)
 
8,685

 
—

 
(17,338
)
Other income and (expense):
 
 
 
 
 
 
 
 
 
Interest expense
(47,659
)
 
(1,035
)
 
(11,579
)
 
15,118

 
(45,155
)
Interest income
1,424

 
852

 
13,111

 
(15,118
)
 
269

Other
—

 
(200
)
 
(9,547
)
 
—

 
(9,747
)
Equity in net earnings of subsidiaries
(36,631
)
 
—

 
—

 
36,631

 
—

Total other income (expense)
(82,866
)
 
(383
)
 
(8,015
)
 
36,631

 
(54,633
)
Income (loss) before income taxes
(84,145
)
 
(25,127
)
 
670

 
36,631

 
(71,971
)
Income tax expense (benefit):
 
 
 
 
 
 
 
 
 
Current
29,643

 
(22,970
)
 
12,931

 
—

 
19,604

Deferred
(18,715
)
 
11,718

 
9,706

 
—

 
2,709

Income tax expense (benefit)
10,928

 
(11,252
)
 
22,637

 
—

 
22,313

Net income (loss)
(95,073
)
 
(13,875
)
 
(21,967
)
 
36,631

 
(94,284
)
Less: Net income attributable to noncontrolling interest
—

 
—

 
789

 
—

 
789

Net income (loss) attributable to controlling interest
$
(95,073
)
 
$
(13,875
)
 
$
(22,756
)
 
$
36,631

 
$
(95,073
)
(1)General and administration expenses for field operations are included in operating expenses.
PARKER DRILLING COMPANY AND SUBSIDIARIES
CONSOLIDATING CONDENSED STATEMENT OF OPERATIONS
(Dollars in Thousands)
(Unaudited) 
 
Year ended December 31, 2014
 
Parent
 
Guarantor
 
Non-Guarantor
 
Eliminations
 
Consolidated
Total revenues
$
—

 
$
506,205

 
$
640,147

 
$
(177,668
)
 
$
968,684

Operating expenses
—

 
279,396

 
567,653

 
(177,668
)
 
669,381

Depreciation and amortization
—

 
87,248

 
57,873

 
—

 
145,121

Total operating gross margin
—

 
139,561

 
14,621

 
—

 
154,182

General and administration expense (1)
(302
)
 
(33,035
)
 
(1,679
)
 
—

 
(35,016
)
Gain (loss) on disposition of assets, net
(79
)
 
1,156

 
(23
)
 
—

 
1,054

Total operating income (loss)
(381
)
 
107,682

 
12,919

 
—

 
120,220

Other income and (expense):
 
 
 
 
 
 
 
 
 
Interest expense
(46,527
)
 
(148
)
 
(7,692
)
 
10,102

 
(44,265
)
Interest income
1,478

 
623

 
8,196

 
(10,102
)
 
195

Loss on extinguishment of debt
(30,152
)
 
—

 
—

 
—

 
(30,152
)
Other
—

 
2,810

 
(271
)
 
—

 
2,539

Equity in net earnings of subsidiaries
67,399

 
—

 
—

 
(67,399
)
 
—

Total other income (expense)
(7,802
)
 
3,285

 
233

 
(67,399
)
 
(71,683
)
Income (loss) before income taxes
(8,183
)
 
110,967

 
13,152

 
(67,399
)
 
48,537

Income tax expense (benefit):
 
 
 
 
 
 
 
 
 
Current
(17,702
)
 
24,106

 
16,163

 
—

 
22,567

Deferred
(13,932
)
 
16,949

 
(1,508
)
 
—

 
1,509

Income tax expense (benefit)
(31,634
)
 
41,055

 
14,655

 
—

 
24,076

Net income (loss)
23,451

 
69,912

 
(1,503
)
 
(67,399
)
 
24,461

Less: Net income attributable to noncontrolling interest
—

 
—

 
1,010

 
—

 
1,010

Net income (loss) attributable to controlling interest
$
23,451

 
$
69,912

 
$
(2,513
)
 
$
(67,399
)
 
$
23,451

(1)General and administration expenses for field operations are included in operating expenses.
PARKER DRILLING COMPANY AND SUBSIDIARIES
CONSOLIDATING CONDENSED STATEMENT OF OPERATIONS
(Dollars in Thousands)
(Unaudited)
 
Year ended December 31, 2013
 
Parent
 
Guarantor
 
Non-Guarantor
 
Eliminations
 
Consolidated
Total revenues
$
—

 
$
468,073

 
$
549,295

 
$
(143,196
)
 
$
874,172

Operating expenses
—

 
252,211

 
462,657

 
(143,196
)
 
571,672

Depreciation and amortization
—

 
77,416

 
56,637

 
—

 
134,053

Total operating gross margin
—

 
138,446

 
30,001

 
—

 
168,447

General and administration expense (1)
(202
)
 
(67,083
)
 
(740
)
 
—

 
(68,025
)
Provision for reduction in carrying value of certain assets
—

 
—

 
(2,544
)
 
—

 
(2,544
)
Gain on disposition of assets, net
—

 
1,759

 
2,235

 
—

 
3,994

Total operating income (loss)
(202
)
 
73,122

 
28,952

 
—

 
101,872

Other income and (expense):
 
 
 
 
 
 
 
 
 
Interest expense
(51,439
)
 
(335
)
 
(9,930
)
 
13,884

 
(47,820
)
Interest income
3,824

 
1,761

 
10,749

 
(13,884
)
 
2,450

Loss on extinguishment of debt
(5,218
)
 
—

 
—

 
—

 
(5,218
)
Other
52

 
(143
)
 
1,594

 
—

 
1,503

Equity in net earnings of subsidiaries
55,430

 
—

 
—

 
(55,430
)
 
—

Total other income and (expense)
2,649

 
1,283

 
2,413

 
(55,430
)
 
(49,085
)
Income (loss) before income taxes
2,447

 
74,405

 
31,365

 
(55,430
)
 
52,787

Income tax expense (benefit):
 
 
 
 
 
 
 
 
 
Current
(21,431
)
 
18,737

 
15,603

 
—

 
12,909

Deferred
(3,137
)
 
19,454

 
(3,618
)
 
—

 
12,699

Total income tax expense (benefit)
(24,568
)
 
38,191

 
11,985

 
—

 
25,608

Net income (loss)
27,015

 
36,214

 
19,380

 
(55,430
)
 
27,179

Less: Net (loss) attributable to noncontrolling interest
—

 
—

 
164

 
—

 
164

Net income (loss) attributable to controlling interest
$
27,015

 
$
36,214

 
$
19,216

 
$
(55,430
)
 
$
27,015

Net income $ (94,284) $ 24,461 $ 27,179
Currency translation difference on related borrowings (2,012) (4,870) (1,525)
Currency translation difference on foreign currency net investments 405 2,147 3,051
Total other comprehensive gain (loss), net of tax: (1,607) (2,723) 1,526
Comprehensive income (95,891) 21,738 28,705
Comprehensive (income) loss attributable to noncontrolling interest 4,606 (673) 198
Comprehensive income (loss) attributable to controlling interest (91,285) 21,065 28,903
Parent [Member]      
Schedule of Condensed Statement of Comprehensive Income [Line Items]      
Net income (95,073) 23,451 27,015
Currency translation difference on related borrowings 0 0 0
Currency translation difference on foreign currency net investments 0 0 0
Total other comprehensive gain (loss), net of tax: 0 0 0
Comprehensive income (95,073) 23,451 27,015
Comprehensive (income) loss attributable to noncontrolling interest 0 0 0
Comprehensive income (loss) attributable to controlling interest (95,073) 23,451 27,015
Guarantor [Member]      
Schedule of Condensed Statement of Comprehensive Income [Line Items]      
Net income (13,875) 69,912 36,214
Currency translation difference on related borrowings 0 0 0
Currency translation difference on foreign currency net investments 0 0 0
Total other comprehensive gain (loss), net of tax: 0 0 0
Comprehensive income (13,875) 69,912 36,214
Comprehensive (income) loss attributable to noncontrolling interest 0 0 0
Comprehensive income (loss) attributable to controlling interest (13,875) 69,912 36,214
Non-Guarantor [Member]      
Schedule of Condensed Statement of Comprehensive Income [Line Items]      
Net income (21,967) (1,503) 19,380
Currency translation difference on related borrowings (2,012) (4,870) (1,525)
Currency translation difference on foreign currency net investments 405 2,147 3,051
Total other comprehensive gain (loss), net of tax: (1,607) (2,723) 1,526
Comprehensive income (23,574) (4,226) 20,906
Comprehensive (income) loss attributable to noncontrolling interest 4,606 (673) 198
Comprehensive income (loss) attributable to controlling interest (18,968) (4,899) 21,104
Eliminations [Member]      
Schedule of Condensed Statement of Comprehensive Income [Line Items]      
Net income 36,631 (67,399) (55,430)
Currency translation difference on related borrowings 0 0 0
Currency translation difference on foreign currency net investments 0 0 0
Total other comprehensive gain (loss), net of tax: 0 0 0
Comprehensive income 36,631 (67,399) (55,430)
Comprehensive (income) loss attributable to noncontrolling interest 0 0 0
Comprehensive income (loss) attributable to controlling interest $ 36,631 $ (67,399) $ (55,430)