Annual report pursuant to Section 13 and 15(d)

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

v3.6.0.2
Parent, Guarantor, Non-Guarantor Unaudited Consolidating Condensed Financial Statements - Statement of Comprehensive Income (Loss) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
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, 2016
 
Parent
 
Guarantor
 
Non-Guarantor
 
Eliminations
 
Consolidated
Total revenues
$
—

 
$
152,263

 
$
380,931

 
$
(106,190
)
 
$
427,004

Operating expenses
—

 
103,013

 
365,698

 
(106,190
)
 
362,521

Depreciation and amortization
—

 
90,218

 
49,577

 
—

 
139,795

Total operating gross margin (loss)
—

 
(40,968
)
 
(34,344
)
 
—

 
(75,312
)
General and administration expense (1)
(410
)
 
(29,355
)
 
(4,567
)
 
—

 
(34,332
)
Gain (loss) on disposition of assets, net
—

 
(565
)
 
(1,048
)
 
—

 
(1,613
)
Total operating income (loss)
(410
)
 
(70,888
)
 
(39,959
)
 
—

 
(111,257
)
Other income (expense):
 
 
 
 
 
 
 
 
 
Interest expense
(48,160
)
 
(642
)
 
(6,434
)
 
9,424

 
(45,812
)
Interest income
758

 
695

 
8,029

 
(9,424
)
 
58

Other
—

 
484

 
(117
)
 
—

 
367

Equity in net earnings of subsidiaries
(94,469
)
 
—

 
—

 
94,469

 
—

Total other income (expense)
(141,871
)
 
537

 
1,478

 
94,469

 
(45,387
)
Income (loss) before income taxes
(142,281
)
 
(70,351
)
 
(38,481
)
 
94,469

 
(156,644
)
Income tax expense (benefit):
 
 
 
 
 
 
 
 
 
Current tax expense (benefit)
40,562

 
(35,572
)
 
118

 
—

 
5,108

Deferred tax expense (benefit)
47,971

 
14,846

 
6,245

 
—

 
69,062

Total income tax expense (benefit)
88,533

 
(20,726
)
 
6,363

 
—

 
74,170

Net income (loss) attributable to controlling interest
$
(230,814
)
 
$
(49,625
)
 
$
(44,844
)
 
$
94,469

 
$
(230,814
)
(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, 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 (loss)
—

 
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 (loss) on disposition of assets, net
—

 
439

 
1,204

 
—

 
1,643

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

 
—

 
(17,338
)
Other income (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 tax expense (benefit)
29,643

 
(22,970
)
 
12,931

 
—

 
19,604

Deferred tax expense (benefit)
(18,715
)
 
11,718

 
9,706

 
—

 
2,709

Total 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 (loss)
—

 
139,561

 
14,621

 
—

 
154,182

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

 
(35,016
)
Provision for reduction in carrying value of certain assets
—

 
—

 
—

 
—

 
—

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 and (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 tax expense (benefit)
(17,702
)
 
24,106

 
16,163

 
—

 
22,567

Deferred tax expense (benefit)
(13,932
)
 
16,949

 
(1,508
)
 
—

 
1,509

Total 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

Net income $ (230,814) $ (94,284) $ 24,461
Currency translation difference on related borrowings (691) (2,012) (4,870)
Currency translation difference on foreign currency net investments (4,265) 405 2,147
Total other comprehensive gain (loss), net of tax: (4,956) (1,607) (2,723)
Comprehensive income (235,770) (95,891) 21,738
Comprehensive (income) loss attributable to noncontrolling interest 0 4,606 (673)
Comprehensive income (loss) attributable to controlling interest (235,770) (91,285) 21,065
Parent [Member]      
Schedule of Condensed Statement of Comprehensive Income [Line Items]      
Net income (230,814) (95,073) 23,451
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
Comprehensive (income) loss attributable to noncontrolling interest   0 0
Comprehensive income (loss) attributable to controlling interest (230,814) (95,073) 23,451
Guarantor [Member]      
Schedule of Condensed Statement of Comprehensive Income [Line Items]      
Net income (49,625) (13,875) 69,912
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
Comprehensive (income) loss attributable to noncontrolling interest   0 0
Comprehensive income (loss) attributable to controlling interest (49,625) (13,875) 69,912
Non-Guarantor [Member]      
Schedule of Condensed Statement of Comprehensive Income [Line Items]      
Net income (44,844) (21,967) (1,503)
Currency translation difference on related borrowings (691) (2,012) (4,870)
Currency translation difference on foreign currency net investments (4,265) 405 2,147
Total other comprehensive gain (loss), net of tax: (4,956) (1,607) (2,723)
Comprehensive income   (23,574) (4,226)
Comprehensive (income) loss attributable to noncontrolling interest   4,606 (673)
Comprehensive income (loss) attributable to controlling interest (49,800) (18,968) (4,899)
Consolidation, Eliminations [Member]      
Schedule of Condensed Statement of Comprehensive Income [Line Items]      
Net income 94,469 36,631 (67,399)
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)
Comprehensive (income) loss attributable to noncontrolling interest   0 0
Comprehensive income (loss) attributable to controlling interest $ 94,469 $ 36,631 $ (67,399)