Helmerich & Payne (HP) 10-Q 5 Feb 16 2016 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Dec. 31, 2015	Jan. 31, 2016
Document and Entity Information
Entity Registrant Name	Helmerich & Payne, Inc.
Entity Central Index Key	46,765
Document Type	10-Q
Document Period End Date	Dec. 31, 2015
Amendment Flag	false
Current Fiscal Year End Date	--09-30
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		108,010,599
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1

CONSOLIDATED CONDENSED BALANCE

CONSOLIDATED CONDENSED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2015	Sep. 30, 2015	Dec. 31, 2014	Sep. 30, 2014
Current assets:
Cash and cash equivalents	$ 848,230	$ 729,384	$ 252,732	$ 360,307
Short-term Investments	47,708	45,543
Accounts receivable, less reserve of $6,167 at December 31, 2015 and $6,181 at September 30, 2015	373,896	445,948
Inventories	127,242	128,541
Deferred income taxes		17,206
Prepaid expenses and other	71,151	64,475
Current assets of discontinued operations	8,449	8,097
Total current assets	1,476,676	1,439,194
Investments	85,276	104,354
Property, plant and equipment, net	5,530,817	5,563,170
Other assets	37,505	40,524
Total assets	7,130,274	7,147,242
Current liabilities:
Long-term debt due within one year less unamortized debt issuance costs	39,092	39,094
Accounts payable	96,442	108,169
Accrued liabilities	269,946	197,557
Current liabilities of discontinued operations	3,310	3,377
Total current liabilities	408,790	348,197
Noncurrent liabilities:
Long-term debt due within one year less unamortized debt issuance costs	492,668	492,443
Deferred income taxes	1,295,601	1,295,916
Other	97,783	110,120
Noncurrent liabilities of discontinued operations	5,139	4,720
Total noncurrent liabilities	1,891,191	1,903,199
Shareholders' equity:
Common stock, $.10 par value, 160,000,000 shares authorized, 111,295,615 shares and 110,987,546 shares issued as of December 31, 2015 and September 30, 2015, respectively and 108,010,599 shares and 107,767,915 shares outstanding as of December 31, 2015 and September 30, 2015, respectively	$ 11,130	$ 11,099
Preferred stock, no par value, 1,000,000 shares authorized, no shares issued
Additional paid-in capital	$ 427,590	$ 420,141
Retained earnings	4,589,597	4,648,346
Accumulated other comprehensive income loss	(12,074)	(1,377)
Treasury stock, at cost	(185,950)	(182,363)
Total shareholders' equity	4,830,293	4,895,846
Total liabilities and shareholders' equity	$ 7,130,274	$ 7,147,242

CONSOLIDATED CONDENSED BALANCE3

CONSOLIDATED CONDENSED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2015	Sep. 30, 2015
CONSOLIDATED CONDENSED BALANCE SHEETS
Accounts receivable, reserve (in dollars)	$ 6,167	$ 6,181
Common stock, par value (in dollars per share)	$ 0.10	$ 0.10
Common stock, shares authorized	160,000,000	160,000,000
Common stock, shares issued	111,295,615	110,987,546
Common stock, shares outstanding	108,010,599	107,767,915
Preferred stock, no par value (in dollars per share)	$ 0	$ 0
Preferred stock, shares authorized	1,000,000	1,000,000
Preferred stock, shares issued	0	0

CONSOLIDATED CONDENSED STATEMEN

CONSOLIDATED CONDENSED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Operating revenues:
Drilling - U.S. Land	$ 369,805	$ 890,047
Drilling - Offshore	41,880	69,887
Drilling - International Land	72,194	96,673
Other	3,968	4,180
Total operating revenues	487,847	1,060,787
Operating costs and other:
Operating costs, excluding depreciation	276,644	559,463
Depreciation	142,129	138,232
General and administrative	32,074	32,736
Research and development	2,919	4,158
Income from asset sales	(4,589)	(4,173)
Total operating costs and expenses	449,177	730,416
Operating income from continuing operations	38,670	330,371
Other income (expense):
Interest and dividend income	733	295
Interest expense	(4,524)	(590)
Other	(261)	314
Total other income (expense)	(4,052)	19
Income from continuing operations before income taxes	34,618	330,390
Income tax provision	18,720	126,767
Income from continuing operations	15,898	203,623
Income (loss) from discontinued operations before income taxes	104	(15)
Income (loss) from discontinued operations	104	(15)
NET INCOME	$ 16,002	$ 203,608
Basic earnings per common share:
Income from continuing operations (in dollars per share)	$ 0.15	$ 1.87
Net income (in dollars per share)	0.15	1.87
Diluted earnings per common share:
Income from continuing operations (in dollars per share)	0.15	1.86
Net income (in dollars per share)	$ 0.15	$ 1.86
Weighted average shares outstanding (in thousands):
Basic (in shares)	107,852	107,973
Diluted (in shares)	108,409	108,843
Dividends declared, per share (in dollars per share)	$ 0.6875	$ 0.6875

CONSOLIDATED CONDENSED STATEME5

CONSOLIDATED CONDENSED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
CONSOLIDATED CONDENSED STATEMENTS OF COMPREHENSIVE INCOME
Net income	$ 16,002	$ 203,608
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent
Unrealized depreciation on securities, net of income taxes of $6.9 million at December 31, 2015 and $26.6 million at December 31, 2014	(11,010)	(42,244)
Minimum pension liability adjustments, net of income taxes of $(0.2) million at December 31, 2015 and ($0.1) million at December 31, 2014	313	196
Other comprehensive loss	(10,697)	(42,048)
Comprehensive income	$ 5,305	$ 161,560

CONSOLIDATED CONDENSED STATEME6

CONSOLIDATED CONDENSED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
CONSOLIDATED CONDENSED STATEMENTS OF COMPREHENSIVE INCOME
Unrealized depreciation on securities, income taxes	$ 6.9	$ 26.6
Minimum pension liability adjustments, income taxes	$ (0.2)	$ (0.1)

CONSOLIDATED CONDENSED STATEME7

CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
OPERATING ACTIVITIES:
Net income	$ 16,002	$ 203,608
Adjustment for (income) loss from discontinued operations	(104)	15
Income from continuing operations	15,898	203,623
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	142,129	138,232
Amortization of debt discount and debt issuance costs	255	58
Provision for bad debt	6
Stock-based compensation	7,921	6,982
Other	233
Income from asset sales	(4,589)	(4,173)
Deferred income tax expense	20,169	124,763
Change in assets and liabilities:
Accounts receivable	72,083	(44,766)
Inventories	1,299	(4,726)
Prepaid expenses and other	(3,657)	(7,048)
Accounts payable	(10,554)	4,784
Accrued liabilities	74,170	(37,097)
Deferred income taxes	3,487	(278)
Other noncurrent liabilities	(10,758)	12,970
Net cash provided by operating activities from continuing operations	308,092	393,324
Net cash used in operating activities from discontinued operations	104	(15)
Net cash provided by operating activities	308,196	393,309
INVESTING ACTIVITIES:
Capital expenditures	(114,470)	(369,981)
Purchase of short-term investments	(6,918)
Proceeds from sales of short-term investments	4,600
Proceeds from asset sales	6,058	7,160
Net cash used in investing activities	(110,730)	(362,821)
FINANCING ACTIVITIES:
Dividends paid	(74,560)	(74,822)
Repurchase of common stock		(59,654)
Debt issuance costs	(32)
Exercise of stock options, net of tax withholding	(59)	(2,062)
Tax withholdings related to net share settlements of restricted stock	(3,617)	(4,248)
Tax benefit (expense) from share-based compensation	(352)	2,723
Net cash used in financing activities	(78,620)	(138,063)
Net increase (decrease) in cash and cash equivalents	118,846	(107,575)
Cash and cash equivalents, beginning of period	729,384	360,307
Cash and cash equivalents, end of period	$ 848,230	$ 252,732

CONSOLIDATED CONDENSED STATEME8

CONSOLIDATED CONDENSED STATEMENT OF SHAREHOLDERS' EQUITY - 3 months ended Dec. 31, 2015 - USD ($) $ in Thousands	Common Stock	Additional Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive Income.	Treasury Stock	Total
Balance at Sep. 30, 2015	$ 11,099	$ 420,141	$ 4,648,346	$ (1,377)	$ (182,363)	$ 4,895,846
Balance (in shares) at Sep. 30, 2015	110,987,000					110,987,546
Balance (in shares) at Sep. 30, 2015					3,220,000
Increase (Decrease) in Shareholders' Equity
Net income			16,002			$ 16,002
Other comprehensive loss				(10,697)		(10,697)
Dividends declared ($.6875 per share)			(74,751)			(74,751)
Exercise of stock options, net of tax withholding	$ 12	3,693			$ (3,764)	(59)
Exercise of stock options, net of tax withholding (in shares)	119,000				64,000
Tax benefit of stock-based awards		(352)				(352)
Stock issued for vested restricted stock, net of shares withheld for employee taxes	$ 19	(3,813)			$ 177	(3,617)
Stock issued for vested restricted stock, net of shares withheld for employee taxes (in shares)	190,000				1,000
Stock-based compensation		7,921				7,921
Balance at Dec. 31, 2015	$ 11,130	$ 427,590	$ 4,589,597	$ (12,074)	$ (185,950)	$ 4,830,293
Balance (in shares) at Dec. 31, 2015	111,296,000					111,295,615
Balance (in shares) at Dec. 31, 2015					3,285,000

CONSOLIDATED CONDENSED STATEME9

CONSOLIDATED CONDENSED STATEMENT OF SHAREHOLDERS' EQUITY (Parenthetical) - $ / shares	Dec. 01, 2015	Sep. 02, 2015	Dec. 31, 2015	Dec. 31, 2014
CONSOLIDATED CONDENSED STATEMENT OF SHAREHOLDERS' EQUITY
Dividends declared (in dollars per share)	$ 0.6875	$ 0.6875	$ 0.6875	$ 0.6875

Basis of Presentation

Basis of Presentation	3 Months Ended
	Dec. 31, 2015
Basis of Presentation
Basis of Presentation	1. Basis of Presentation Unless the context otherwise requires, the use of the terms “the Company”, “we”, “us” and “our” in these Notes to Consolidated Condensed Financial Statements refers to Helmerich & Payne, Inc. and its consolidated subsidiaries. The accompanying unaudited Consolidated Condensed Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) and applicable rules and regulations of the Securities and Exchange Commission (the “Commission”) pertaining to interim financial information. Accordingly, these interim financial statements do not include all information or footnote disclosures required by GAAP for complete financial statements and, therefore, should be read in conjunction with the Consolidated Financial Statements and notes thereto in our 2015 Annual Report on Form 10-K and other current filings with the Commission. In the opinion of management all adjustments, consisting of those of a normal recurring nature, necessary to present fairly the results of the periods presented have been included. The results of operations for the interim periods presented may not necessarily be indicative of the results to be expected for the full year. The Consolidated Condensed Financial Statements include the accounts of Helmerich & Payne, Inc. and its wholly-owned subsidiaries. Prior to September 30, 2015, for financial reporting purposes, fiscal years of our foreign operations ended on August 31 to facilitate reporting of consolidated results, resulting in a one-month reporting lag when compared to the remainder of the Company. Starting October 1, 2015, the reporting year-end of these foreign operations was changed from August 31 to September 30. The previously existing one-month reporting lag was eliminated as it is no longer required to achieve a timely consolidation due to our investments in technology, ERP systems and personnel to enhance our financial statement close process. We believe this change is preferable because the financial information of all operating segments is now reported based on the same period-end, which improves overall financial reporting to investors by providing the most current information available. In accordance with Accounting Standards Codification (“ASC) 810-10-50-2, “ A Change in the Difference Between Parent and Subsidiary Fiscal Year-Ends ,” the elimination of this previously existing reporting lag is considered a voluntary change in accounting principle in accordance with ASC 250-10-50 “ Change in Accounting Principle .” Voluntary changes in accounting principles are to be reported through retrospective application of the new principle to all prior financial statement periods presented. Accordingly, our financial statements for periods prior to fiscal 2016 have been changed to reflect the period-specific effects of applying this accounting principle. This change resulted in a cumulative effect of an accounting change of $1.6 million, net of income tax effect, to retained earnings as of October 1, 2015. Net income for the first quarter of fiscal 2016 would have been approximately $5.4 million higher absent the accounting change primarily due to the recognition of a $6.3 million currency devaluation loss that was recognized in quarter ending December 31, 2015, as opposed to the second quarter of fiscal 2016, as a result of the elimination of the one month lag. The impact of this change in accounting principle to eliminate the one-month lag for foreign subsidiaries is summarized below for significant items. Other accounts were minimally impacted. After Voluntary Change in Accounting As Reported Adjustments Principle Three Months Ended December 31, 2014 (in thousands) Operating revenues $ $ $ Operating costs, excluding depreciation Net income Diluted earnings per common share September 30, 2015 (in thousands) Total assets $ $ ) $ Total liabilities ) Total shareholders’ equity ) In November 2015, the Financial Account Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2015-17, Income Taxes (Topic 740), Balance Sheet Classification of Deferred Taxes requiring all deferred tax assets and liabilities be classified as noncurrent on the balance sheet instead of separating deferred taxes into current and noncurrent amounts. The guidance is effective for financial statements issued for annual periods beginning after December 15, 2016, however, we have elected to early adopt effective October 1, 2015 prospectively. As a result of the adoption, we will no longer have Deferred income taxes as a current asset in our Consolidated Condensed Balance Sheet. As more fully described in our 2015 Annual Report on Form 10-K, our contract drilling revenues are comprised of daywork drilling contracts for which the related revenues and expenses are recognized as services are performed. For contracts that are terminated by customers prior to the expirations of their fixed terms, contractual provisions customarily require early termination amounts to be paid to us. Revenues from early terminated contracts are recognized when all contractual requirements have been met. During the three months ended December 31, 2015, early termination revenue was approximately $28.9 million. We had $23.4 million of early termination revenue for the three months ended December 31, 2014. Depreciation in the Consolidated Condensed Statements of Income includes abandonments of $0.5 million for the three months ended December 31, 2015 and $2.2 million for the three months ended December 31, 2014. The functional currency for all our foreign operations is the U.S. dollar. Nonmonetary assets and liabilities are translated at historical rates and monetary assets and liabilities are translated at exchange rates in effect at the end of the period. Income statement accounts are translated at average rates for the period presented. Foreign currency gains and losses from remeasurement of foreign currency financial statements and foreign currency translations into U.S. dollars are included in direct operating costs. Included in direct operating costs are aggregate foreign currency losses of $8.5 million for the three months ended December 31, 2015. The losses are primarily the result of a sharp devaluation of the Argentine peso in December 2015. For the three months ended December 31, 2014, we had aggregate currency gains of $1.5 million.

Discontinued Operations

Discontinued Operations	3 Months Ended
	Dec. 31, 2015
Discontinued Operations
Discontinued Operations	2. Discontinued Operations Current assets of discontinued operations consist of restricted cash to meet remaining current obligations within the country of Venezuela. Current and noncurrent liabilities consist of municipal and income taxes payable and social obligations due within the country of Venezuela. Expenses incurred for in-country obligations are reported as discontinued operations.

Earnings per Share

Earnings per Share	3 Months Ended
	Dec. 31, 2015
Earnings per Share
Earnings per Share	3. Earnings per Share ASC 260, Earnings per Share , requires companies to treat unvested share-based payment awards that have non-forfeitable rights to dividends or dividend equivalents as a separate class of securities in calculating earnings per share. We have granted and expect to continue to grant to employees restricted stock grants that contain non-forfeitable rights to dividends. Such grants are considered participating securities under ASC 260. As such, we are required to include these grants in the calculation of our basic earnings per share and calculate basic earnings per share using the two-class method. The two-class method of computing earnings per share is an earnings allocation formula that determines earnings per share for each class of common stock and participating security according to dividends declared (or accumulated) and participation rights in undistributed earnings. Basic earnings per share is computed utilizing the two-class method and is calculated based on the weighted-average number of common shares outstanding during the periods presented. Diluted earnings per share is computed using the weighted-average number of common and common equivalent shares outstanding during the periods utilizing the two-class method for stock options and nonvested restricted stock. The following table sets forth the computation of basic and diluted earnings per share: Three Months Ended December 31, 2015 2014 (as adjusted) (in thousands, except per share amounts) Numerator: Income from continuing operations $ $ Income (loss) from discontinued operations ) Net income Adjustment for basic earnings per share: Earnings allocated to unvested shareholders ) ) Numerator for basic earnings per share: From continuing operations From discontinued operations ) Adjustment for diluted earnings per share: Effect of reallocating undistributed earnings of unvested shareholders — Numerator for diluted earnings per share: From continuing operations From discontinued operations ) $ $ Denominator: Denominator for basic earnings per share — weighted-average shares Effect of dilutive shares from stock options and restricted stock Denominator for diluted earnings per share — adjusted weighted-average shares Basic earnings per common share: Income from continuing operations $ $ Income from discontinued operations — — Net income $ $ Diluted earnings per common share: Income from continuing operations $ $ Income from discontinued operations — — Net income $ $ The following shares attributable to outstanding equity awards were excluded from the calculation of diluted earnings per share because their inclusion would have been anti-dilutive: Three Months Ended December 31, 2015 2014 (in thousands, except per share amounts) Shares excluded from calculation of diluted earnings per share Weighted-average price per share $ $

Financial Instruments and Fair

Financial Instruments and Fair Value Measurement	3 Months Ended
	Dec. 31, 2015
Financial Instruments and Fair Value Measurement
Financial Instruments and Fair Value Measurement	4. Financial Instruments and Fair Value Measurement The estimated fair value of our available-for-sale securities, reflected on our Consolidated Condensed Balance Sheets as Investments, is based on market quotes. The following is a summary of available-for-sale securities, which excludes assets held in a Non-qualified Supplemental Savings Plan: Gross Gross Estimated Unrealized Unrealized Fair Cost Gains Losses Value (in thousands) Equity securities December 31, 2015 $ $ $ $ Equity securities September 30, 2015 $ $ $ $ On an ongoing basis we evaluate the marketable equity securities to determine if any decline in fair value below cost is other-than-temporary. If a decline in fair value below cost is determined to be other-than-temporary, an impairment charge is recorded and a new cost basis established. We review several factors to determine whether a loss is other-than-temporary. These factors include, but are not limited to, (i) the length of time a security is in an unrealized loss position, (ii) the extent to which fair value is less than cost, (iii) the financial condition and near-term prospects of the issuer and (iv) our intent and ability to hold the security for a period of time sufficient to allow for any anticipated recovery in fair value. The cost of securities used in determining realized gains and losses is based on the average cost basis of the security sold. The security in an unrealized loss position was below cost for under 30 days at both December 31, 2015 and September 30, 2015. The security is in the international offshore drilling industry and has been impacted by the downturn in the energy sector. Considering the factors above including the limited time that the security was in an unrealized position, impairment was not considered other-than-temporary at December 31, 2015. The assets held in the Non-qualified Supplemental Savings Plan are carried at fair value which totaled $11.7 million at December 31, 2015 and $12.9 million at September 30, 2015. The assets are comprised of mutual funds that are measured using Level 1 inputs. The majority of cash equivalents are invested in highly liquid money-market mutual funds invested primarily in direct or indirect obligations of the U.S. Government. The carrying amount of cash and cash equivalents approximates fair value due to the short maturity of those investments. Fair value is defined as the exchange price that would be received to sell an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. We use the fair value hierarchy established in ASC 820-10 to measure fair value to prioritize the inputs: · Level 1 — Quoted prices (unadjusted) in active markets for identical assets or liabilities that the reporting entity can access at the measurement date. · Level 2 — Observable inputs, other than quoted prices included in Level 1, such as quoted prices for similar assets or liabilities in active markets; quoted prices for similar assets and liabilities in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. · Level 3 — Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. This includes pricing models, discounted cash flow methodologies and similar techniques that use significant unobservable inputs. At December 31, 2015, our financial instruments utilizing Level 1 inputs include cash equivalents, equity securities with active markets, money market funds we have elected to classify as restricted assets that are included in other current assets and other assets. Also included is cash denominated in a foreign currency that we have elected to classify as restricted to be used to settle the remaining liabilities of discontinued operations. For these items, quoted current market prices are readily available. At December 31, 2015, financial instruments utilizing level 2 inputs include a bank certificate of deposit included in other current assets. Currently, we do not have any financial instruments utilizing Level 3 inputs. The following table summarizes our assets measured at fair value on a recurring basis presented in our Consolidated Condensed Balance Sheet as of December 31, 2015: Total Level 1 Level 2 Level 3 (in thousands) Short-term investments: Certificate of deposit $ $ — $ $ — Corporate debt securities — — U.S. government and federal agency securities — Total short-term investments — Cash and cash equivalents — Investments — — Other current assets — Other assets — — Total assets measured at fair value $ $ $ $ — The following information presents the supplemental fair value information about long-term fixed-rate debt at December 31, 2015 and September 30, 2015: December 31, September 30, 2015 2015 (in millions) Carrying value of long-term fixed-rate debt $ $ Fair value of long-term fixed-rate debt $ $ The fair value at December 31, 2015 for the $40 million fixed-rate debt was estimated using discounted cash flows at rates reflecting current interest rates at similar maturities plus a credit spread which was estimated using the outstanding market information on debt instruments with a similar credit profile to us. The debt was valued using a Level 2 input. The fair value for the $500 million fixed-rate debt was based on broker quotes at December 31, 2015. The notes are classified within Level 2 as they are not actively traded in markets.

Shareholders' Equity

Shareholders' Equity	3 Months Ended
	Dec. 31, 2015
Shareholders' Equity
Shareholders' Equity	5. Shareholders’ Equity The Company has authorization from the Board of Directors for the repurchase of up to four million shares per calendar year. The repurchases may be made using our cash and cash equivalents or other available sources. We have had no purchases of common shares in fiscal 2016. During the three months ended December 31, 2014, we purchased 810,097 common shares at an aggregate cost of $59.7 million, which are held as treasury shares. Components of accumulated other comprehensive income (loss) were as follows: December 31, September 30, 2015 2015 (in thousands) Pre-tax amounts: Unrealized appreciation on securities $ $ Unrecognized actuarial loss ) ) $ ) $ ) After-tax amounts: Unrealized appreciation on securities $ $ Unrecognized actuarial loss ) ) $ ) $ ) The following is a summary of the changes in accumulated other comprehensive income (loss), net of tax, by component for the three months ended December 31, 2015: Three Months Ended December 31, 2015 Unrealized Appreciation (Depreciation) on Defined Available-for-sale Benefit Securities Pension Plan Total (in thousands) Balances at September 30, 2015 $ $ ) $ ) Other comprehensive loss before reclassifications ) — ) Amounts reclassified from accumulated other comprehensive income — Net current-period other comprehensive income (loss) ) ) Balances at December 31, 2015 $ $ ) $ ) The following provides detail about accumulated other comprehensive income (loss) components which were reclassified to the Condensed Consolidated Statement of Income during the three months ended December 31, 2015: Amount Reclassified from Accumulated Other Comprehensive Income (Loss) Details About Accumulated Other Three Months Ended Affected Line Item in the Comprehensive Income December 31, Condensed Consolidated (Loss) Components 2015 2014 Statement of Income (in thousands) Defined Benefit Pension Items Amortization of net actuarial loss $ $ General and administrative ) ) Income tax provision Total reclassifications for the period $ $ Net of tax

Cash Dividends

Cash Dividends	3 Months Ended
	Dec. 31, 2015
Cash Dividends
Cash Dividends	6. Cash Dividends The $0.6875 per share cash dividend declared September 2, 2015, was paid December 1, 2015. On December 1, 2015, a cash dividend of $0.6875 per share was declared for shareholders of record on February 15, 2016, payable March 1, 2016. The dividend payable is included in accounts payable in the Consolidated Condensed Balance Sheet.

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Dec. 31, 2015
Stock-Based Compensation
Stock-Based Compensation	7. Stock-Based Compensation On March 2, 2011, the 2010 Long-Term Incentive Plan (the “2010 Plan”) was approved by our stockholders. The 2010 Plan, among other things, authorizes the Human Resources Committee of the Board to grant non-qualified stock options, restricted stock awards and stock appreciation rights to selected employees and to non-employee Directors. Restricted stock may be granted for no consideration other than prior and future services. The purchase price per share for stock options may not be less than market price of the underlying stock on the date of grant. Stock options expire 10 years after the grant date. There were 876,379 non-qualified stock options and 294,575 shares of restricted stock awards granted in the three months ended December 31, 2015. Awards outstanding in the 2005 Long-Term Incentive Plan (the “2005 Plan”) remain subject to the terms and conditions of that plan. A summary of compensation cost for stock-based payment arrangements recognized in general and administrative expense is as follows: Three Months Ended December 31, 2015 2014 (in thousands) Compensation expense Stock options $ $ Restricted stock $ $ STOCK OPTIONS The following summarizes the weighted-average assumptions utilized in determining the fair value of options granted during the three months ended December 31, 2015 and 2014: 2015 2014 Risk-free interest rate % % Expected stock volatility % % Dividend yield % % Expected term (in years) Risk-Free Interest Rate. The risk-free interest rate is based on U.S. Treasury securities for the expected term of the option. Expected Volatility Rate. Expected volatility is based on the daily closing price of our stock based upon historical experience over a period which approximates the expected term of the option. Expected Dividend Yield. The expected dividend yield is based on our current dividend yield. Expected Term. The expected term of the options granted represents the period of time that they are expected to be outstanding. We estimate the expected term of options granted based on historical experience with grants and exercises. A summary of stock option activity under all existing long-term incentive plans for the three months ended December 31, 2015 is presented in the following tables: Three Months Ended December 31, 2015 Weighted- Weighted- Average Aggregate Average Remaining Intrinsic Shares Exercise Contractual Term Value Options (in thousands) Price (in years) (in millions) Outstanding at October 1, 2015 $ Granted Exercised ) Forfeited/Expired ) Outstanding at December 31, 2015 $ $ Vested and expected to vest at December 31, 2015 $ $ Exercisable at December 31, 2015 $ $ The weighted-average fair value of options granted in the first quarter of fiscal 2016 was $13.12. The total intrinsic value of options exercised during the three months ended December 31, 2015 was $3.1 million. As of December 31, 2015, the unrecognized compensation cost related to stock options was $12.7 million which is expected to be recognized over a weighted-average period of 3.4 years. RESTRICTED STOCK Restricted stock awards consist of our common stock and are time-vested over three to six years. We recognize compensation expense on a straight-line basis over the vesting period. The fair value of restricted stock awards under the 2010 Plan is determined based on the closing price of our shares on the grant date. As of December 31, 2015, there was $33.1 million of total unrecognized compensation cost related to unvested restricted stock awards which is expected to be recognized over a weighted-average period of 2.9 years. A summary of the status of our restricted stock awards as of December 31, 2015 and changes in restricted stock outstanding during the three months then ended is presented below: Three Months Ended December 31, 2015 Weighted- Average Shares Grant-Date Restricted Stock Awards (in thousands) Fair Value Unvested at October 1, 2015 $ Granted Vested (1) ) Forfeited ) Unvested at December 31, 2015 $ (1) The number of restricted stock awards vested includes shares that we withheld on behalf of our employees to satisfy the statutory tax withholding requirements.

Debt

Debt	3 Months Ended
	Dec. 31, 2015
Debt
Debt	8. Debt At December 31, 2015 and September 30, 2015, we had the following unsecured long-term debt outstanding: Unamortized Discount and Principal Debt Issuance Costs December 31, September 30, December 31, September 30, 2015 2015 2015 2015 (in thousands) Unsecured senior notes issued July 21, 2009: Due July 21, 2016 $ $ $ ) $ ) Unsecured senior notes issued March 19, 2015: Due March 19, 2025 ) ) ) ) Less long-term debt due within one year ) ) Long-term debt $ $ $ ) $ ) We have $40 million senior unsecured fixed-rate notes outstanding at December 31, 2015 that mature July 2016. Interest on the notes is paid semi-annually based on an annual rate of 6.10 percent. A final annual principal repayment of $40 million is due July 2016. We have complied with our financial covenants which require us to maintain a funded leverage ratio of less than 55 percent and an interest coverage ratio (as defined) of not less than 2.50 to 1.00. On March 19, 2015, we issued $500 million of 4.65 percent 10-year unsecured senior notes. The net proceeds, after discount and issuance cost, have been or will be used for general corporate purposes, including capital expenditures associated with our rig construction program. Interest is payable semi-annually on March 15 and September 15. The debt discount is being amortized to interest expense using the effective interest method. The debt issuance costs are amortized straight-line over the stated life of the obligation, which approximates the effective yield method. We have a $300 million unsecured revolving credit facility that will mature May 25, 2017. The credit facility has $100 million available to use for letters of credit. The majority of borrowings under the facility would accrue interest at a spread over the London Interbank Offered Rate (LIBOR). We also pay a commitment fee based on the unused balance of the facility. Borrowing spreads as well as commitment fees are determined according to a scale based on a ratio of our total debt to total capitalization. The spread over LIBOR ranges from 1.125 percent to 1.75 percent per annum and commitment fees range from .15 percent to .35 percent per annum. Based on our debt to total capitalization on December 31, 2015, the spread over LIBOR and commitment fees would be 1.125 percent and .15 percent, respectively. Financial covenants in the facility require us to maintain a funded leverage ratio (as defined) of less than 50 percent and an interest coverage ratio (as defined) of not less than 3.00 to 1.00. The credit facility contains additional terms, conditions, restrictions, and covenants that we believe are usual and customary in unsecured debt arrangements for companies of similar size and credit quality. As of December 31, 2015, there were no borrowings, but there were three letters of credit outstanding in the amount of $40.3 million. At December 31, 2015, we had $259.7 million available to borrow under our $300 million unsecured credit facility. At December 31, 2015, we had two letters of credit outstanding, totaling $12 million that were issued to support international operations. These letters of credit were issued separately from the $300 million credit facility so they do not reduce the available borrowing capacity discussed in the previous paragraph.

Income Taxes

Income Taxes	3 Months Ended
	Dec. 31, 2015
Income Taxes
Income Taxes	9. Income Taxes Our effective tax rate for the first three months ended December 31, 2015 and 2014 was 54.1 percent and 38.4 percent, respectively. Effective tax rates differ from the U.S. federal statutory rate of 35.0 percent primarily due to state and foreign income taxes and the tax benefit from the Internal Revenue Code Section 199 deduction for domestic production activities. The effective tax rate for the three months ended December 31, 2015 was also impacted by a December 2015 tax law change which resulted in a reduction of the fiscal 2015 Internal Revenue Code Section 199 deduction for domestic production activities. For the next 12 months, we cannot predict with certainty whether we will achieve ultimate resolution of any uncertain tax positions associated with our U.S. and international operations that could result in increases or decreases of our unrecognized tax benefits. However, we do not expect the increases or decreases to have a material effect on results of operations or financial position.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Dec. 31, 2015
Commitments and Contingencies
Commitments and Contingencies	10. Commitments and Contingencies In conjunction with our current drilling rig construction program, purchase commitments for equipment, parts and supplies of approximately $38.1 million are outstanding at December 31, 2015. Other than the matters described below, the Company is a party to various pending legal actions arising in the ordinary course of its business. We maintain insurance against certain business risks subject to certain deductibles. None of these legal actions are expected to have a material adverse effect on our financial condition, cash flows or results of operations. We are contingently liable to sureties in respect of bonds issued by the sureties in connection with certain commitments entered into by us in the normal course of business. We have agreed to indemnify the sureties for any payments made by them in respect of such bonds. During the ordinary course of our business, contingencies arise resulting from an existing condition, situation or set of circumstances involving an uncertainty as to the realization of a possible gain contingency. We account for gain contingencies in accordance with the provisions of ASC 450, Contingencies , and, therefore, we do not record gain contingencies or recognize income until realized. The property and equipment of our Venezuelan subsidiary was seized by the Venezuelan government on June 30, 2010. Our wholly-owned subsidiaries, Helmerich & Payne International Drilling Co. and Helmerich & Payne de Venezuela, C.A., filed a lawsuit in the United States District Court for the District of Columbia on September 23, 2011 against the Bolivarian Republic of Venezuela, Petroleos de Venezuela, S.A. (“PDVSA”) and PDVSA Petroleo, S.A. (“Petroleo”). Our subsidiaries seek damages for the taking of their Venezuelan drilling business in violation of international law and for breach of contract. While there exists the possibility of realizing a recovery, we are currently unable to determine the timing or amounts we may receive, if any, or the likelihood of recovery. No gain contingencies are recognized in our Consolidated Financial Statements. On November 8, 2013, the United States District Court for the Eastern District of Louisiana approved the previously disclosed October 30, 2013 plea agreement between our wholly owned subsidiary, Helmerich & Payne International Drilling Co., and the United States Department of Justice, United States Attorney’s Office for the Eastern District of Louisiana (“DOJ”). The court’s approval of the plea agreement resolved the DOJ’s investigation into certain choke manifold testing irregularities that occurred in 2010 at one of Helmerich & Payne International Drilling Co.’s offshore platform rigs in the Gulf of Mexico. We have been engaged in discussions with the Inspector General’s office of the Department of Interior regarding the same events that were the subject of the DOJ’s investigation. Although we presently believe that the outcome of our discussions will not have a material adverse effect on the Company, we cannot estimate the amount of any potential loss, nor can we provide any assurances as to the timing or eventual outcome of these discussions.

Segment Information

Segment Information	3 Months Ended
	Dec. 31, 2015
Segment Information
Segment Information	11. Segment Information We operate principally in the contract drilling industry. Our contract drilling business includes the following reportable operating segments: U.S. Land, Offshore and International Land. The contract drilling operations consist mainly of contracting Company-owned drilling equipment primarily to large oil and gas exploration companies. To provide information about the different types of business activities in which we operate, we have included Offshore and International Land, along with our U.S. Land reportable operating segment, as separate reportable operating segments. Additionally, each reportable operating segment is a strategic business unit that is managed separately. Our primary international areas of operation include Colombia, Ecuador, Argentina, Bahrain, and the U.A.E. Other includes additional non-reportable operating segments. Revenues included in Other consist primarily of rental income. Consolidated revenues and expenses reflect the elimination of all material intercompany transactions. We evaluate segment performance based on income or loss from continuing operations (segment operating income) before income taxes which includes: · revenues from external and internal customers · direct operating costs · depreciation and · allocated general and administrative costs but excludes corporate costs for other depreciation, income from asset sales and other corporate income and expense. General and administrative costs are allocated to the segments based primarily on specific identification and, to the extent that such identification is not practical, on other methods which we believe to be a reasonable reflection of the utilization of services provided. Segment operating income for all segments is a non-GAAP financial measure of our performance, as it excludes certain general and administrative expenses, corporate depreciation, income from asset sales and other corporate income and expense. We consider segment operating income to be an important supplemental measure of operating performance by presenting trends in our core businesses. We use this measure to facilitate period-to-period comparisons in operating performance of our reportable segments in the aggregate by eliminating items that affect comparability between periods. We believe that segment operating income is useful to investors because it provides a means to evaluate the operating performance of the segments on an ongoing basis using criteria that are used by our internal decision makers. Additionally, it highlights operating trends and aids analytical comparisons. However, segment operating income has limitations and should not be used as an alternative to operating income or loss, a performance measure determined in accordance with GAAP, as it excludes certain costs that may affect our operating performance in future periods. Summarized financial information of our reportable segments for the three months ended December 31, 2015 and 2014 is shown in the following tables: Segment External Inter- Total Operating (in thousands) Sales Segment Sales Income (Loss) December 31, 2015 Contract Drilling: U.S. Land $ $ — $ $ Offshore — International Land — ) — Other ) Eliminations — ) ) — Total $ $ — $ $ Segment External Inter- Total Operating (in thousands) Sales Segment Sales Income (Loss) December 31, 2014, as adjusted Contract Drilling: U.S. Land $ $ — $ $ Offshore — International Land — — Other ) Eliminations — ) ) — Total $ $ — $ $ The following table reconciles segment operating income per the table above to income from continuing operations before income taxes as reported on the Consolidated Condensed Statements of Income: Three Months Ended December 31, 2015 2014 (as adjusted) (in thousands) Segment operating income $ $ Income from asset sales Corporate general and administrative costs and corporate depreciation ) ) Operating income Other income (expense): Interest and dividend income Interest expense ) ) Other ) Total other income (expense) ) Income from continuing operations before income taxes $ $ The following table presents total assets by reportable segment: September 30, December 31, 2015 2015 (as adjusted) (in thousands) Total assets U.S. Land $ $ Offshore International Land Other Investments and corporate operations Total assets from continued operations Discontinued operations $ $ The following table presents revenues from external customers by country based on the location of service provided: Three Months Ended December 31, 2015 2014 (as adjusted) (in thousands) Operating revenues United States $ $ Argentina Colombia Ecuador Other foreign Total $ $

Pensions and Other Post-retirem

Pensions and Other Post-retirement Benefits	3 Months Ended
	Dec. 31, 2015
Pensions and Other Post-retirement Benefits
Pensions and Other Post-retirement Benefits	12. Pensions and Other Post-retirement Benefits The following provides information at December 31, 2015 related to the Company-sponsored domestic defined benefit pension plan: Components of Net Periodic Benefit Cost Three Months Ended December 31, 2015 2014 (in thousands) Interest cost $ $ Expected return on plan assets ) ) Recognized net actuarial loss Net pension expense (benefit) $ $ ) Employer Contributions We did not contribute to the Pension Plan during the three months ended December 31, 2015. We could make contributions for the remainder of fiscal 2016 to fund distributions in lieu of liquidating assets.

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	3 Months Ended
	Dec. 31, 2015
Supplemental Cash Flow Information
Supplemental Cash Flow Information	13. Supplemental Cash Flow Information Capital expenditures on the Consolidated Condensed Statements of Cash Flows do not include additions which have been incurred but not paid for as of the end of the period. The following table reconciles total capital expenditures incurred to total capital expenditures in the Consolidated Condensed Statements of Cash Flows: Three Months Ended December 31, 2015 2014 (as adjusted) (in thousands) Capital expenditures incurred $ $ Additions incurred prior year but paid for in current period Additions incurred but not paid for as of the end of the period ) ) Capital expenditures per Consolidated Condensed Statements of Cash Flows $ $

International Risk Factors

International Risk Factors	3 Months Ended
	Dec. 31, 2015
International Risk Factors
International Risk Factors	14. International Risk Factors We currently have operations in South America, the Middle East and Africa. In the future, we may further expand the geographic reach of our operations. As a result, we are exposed to certain political, economic and other uncertainties not encountered in U.S. operations, including increased risks of social unrest, strikes, terrorism, war, kidnapping of employees, nationalization, forced negotiation or modification of contracts, difficulty resolving disputes and enforcing contract provisions, expropriation of equipment as well as expropriation of oil and gas exploration and drilling rights, taxation policies, foreign exchange restrictions and restrictions on repatriation of income and capital, currency rate fluctuations, increased governmental ownership and regulation of the economy and industry in the markets in which we operate, economic and financial instability of national oil companies, and restrictive governmental regulation, bureaucratic delays and general hazards associated with foreign sovereignty over certain areas in which operations are conducted. South American countries, in particular, have historically experienced uneven periods of economic growth, as well as recession, periods of high inflation and general economic and political instability. From time to time these risks have impacted our business. For example, on June 30, 2010, the Venezuelan government expropriated 11 rigs and associated real and personal property owned by our Venezuelan subsidiary. Prior thereto, we also experienced currency devaluation losses in Venezuela and difficulty repatriating U.S. dollars to the United States. Today, our contracts for work in foreign countries generally provide for payment in U.S. dollars. However, in Argentina we are paid in Argentine pesos. The Argentine branch of one of our second-tier subsidiaries then remits U.S. dollars to its U.S. parent by converting the Argentine pesos into U.S. dollars through the Argentine Foreign Exchange Market and repatriating the U.S. dollars. In the future, other contracts or applicable law may require payments to be made in foreign currencies. As such, there can be no assurance that we will not experience in Argentina or elsewhere a devaluation of foreign currency, foreign exchange restrictions or other difficulties repatriating U.S. dollars even if we are able to negotiate contract provisions designed to mitigate such risks. In December 2015, the Company experienced aggregate foreign currency losses of $8.5 million for the three months ended December 31, 2015. The losses are primarily the result of a sharp devaluation of the Argentine peso in December 2015. It is expected that the Argentine peso will be allowed to float in the free exchange market and foreign exchange restrictions will be less prohibitive. However, whether in Argentina or elsewhere, in the event of future payments in foreign currencies and an inability to timely exchange foreign currencies for U.S. dollars, we may incur currency devaluation losses which could have a material adverse impact on our business, financial condition and results of operations. In January 2015, the Venezuelan government announced plans for a new foreign currency exchange system. We are monitoring the status of this change in Venezuela’s exchange control policy. Additionally, there can be no assurance that there will not be changes in local laws, regulations and administrative requirements or the interpretation thereof which could have a material adverse effect on the profitability of our operations or on our ability to continue operations in certain areas. Because of the impact of local laws, our future operations in certain areas may be conducted through entities in which local citizens own interests and through entities (including joint ventures) in which we hold only a minority interest or pursuant to arrangements under which we conduct operations under contract to local entities. While we believe that neither operating through such entities nor pursuant to such arrangements would have a material adverse effect on our operations or revenues, there can be no assurance that we will in all cases be able to structure or restructure our operations to conform to local law (or the administration thereof) on terms we find acceptable. Although we attempt to minimize the potential impact of such risks by operating in more than one geographical area, during the three months ended December 31, 2015, approximately 14.8 percent of our consolidated operating revenues were generated from international locations in our contract drilling business. During the three months ended December 31, 2015, approximately 83.8 percent of operating revenues from international locations were from operations in South America. All of the South American operating revenues were from Argentina, Colombia and Ecuador. The future occurrence of one or more international events arising from the types of risks described above could have a material adverse impact on our business, financial condition and results of operations.

Recently Issued Accounting Stan

Recently Issued Accounting Standards	3 Months Ended
	Dec. 31, 2015
Recently Issued Accounting Standards
Recently Issued Accounting Standards	15. Recently Issued Accounting Standards In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers , which supersedes virtually all existing revenue recognition guidance. The new standard requires an entity to recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration the entity expects to receive in exchange for those goods or services. This update also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments and assets recognized from costs incurred to obtain or fulfill a contract. The provisions of ASU 2014-09 are effective for interim and annual periods beginning after December 15, 2017, and we have the option of using either a full retrospective or a modified retrospective approach when adopting this new standard. We are currently evaluating the alternative transition methods and the potential effects of the adoption of this update on our financial statements. In January 2016, the FASB issued ASU No. 2016-01, Financial Instruments — Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities . The standard requires entities to measure equity investments that do not result in consolidation and are not accounted for under the equity method at fair value and recognize any changes in fair value in net income. The provisions of ASU 2016-01 are effective for interim and annual periods starting after December 15, 2017. At adoption, a cumulative-effect adjustment to beginning retained earnings will be recorded. We will adopt this standard on October 1, 2018. Subsequent to adoption, changes in the fair value of our available-for-sale investments will be recognized in net income and the effect will be subject to stock market fluctuations.

Guarantor and Non-Guarantor Fin

Guarantor and Non-Guarantor Financial Information	3 Months Ended
	Dec. 31, 2015
Guarantor and Non-Guarantor Financial Information
Guarantor and Non-Guarantor Financial Information	16. Guarantor and Non-Guarantor Financial Information In March 2015, Helmerich & Payne International Drilling Co. (“the issuer”), a wholly-owned subsidiary of Helmerich & Payne, Inc. (“parent”, “the guarantor”), issued senior unsecured notes with an aggregate principal amount of $500.0 million. The notes are fully and unconditionally guaranteed by the parent. No subsidiaries of parent currently guarantee the notes, subject to certain provisions that if any subsidiary guarantees certain other debt of the issuer or parent, then such subsidiary will provide a guarantee of the obligations under the notes. In connection with the notes, we are providing the following condensed consolidating financial information for the issuer, Helmerich & Payne International Drilling Co. and parent/guarantor, Helmerich & Payne, Inc., in accordance with the Commission disclosure requirements. Each entity in the consolidating financial information follows the same accounting policies as described in the consolidated financial statements. CONSOLIDATED CONDENSED STATEMENTS OF INCOME (in thousands) Three Months Ended December 31, 2015 Guarantor/ Issuer Non-Guarantor Total Parent Subsidiary Subsidiaries Eliminations Consolidated Operating revenue $ — $ $ $ ) $ Operating costs and other ) Operating income (loss) from continuing operations ) ) Other income ) Interest expense ) ) — ) Equity in net income (loss) of subsidiaries ) — ) — Income (loss) from continuing operations before income taxes ) ) Income tax provision ) — Income (loss) from continuing operations ) ) Income from discontinued operations before income taxes — — — Income tax provision — — — — — Income from discontinued operations — — — Net income (loss) $ $ $ ) $ ) $ CONSOLIDATED CONDENSED STATEMENTS OF COMPREHENSIVE INCOME (in thousands) Three Months Ended December 31, 2015 Guarantor/ Issuer Non-Guarantor Total Parent Subsidiary Subsidiaries Eliminations Consolidated Net income (loss) $ $ $ ) $ ) $ Other comprehensive income (loss), net of income taxes: Unrealized depreciation on securities, net — ) — — ) Minimum pension liability adjustments, net — — Other comprehensive income (loss) ) — — ) Comprehensive income (loss) $ $ $ ) $ ) $ CONSOLIDATED CONDENSED STATEMENTS OF INCOME (in thousands) Three Months Ended December 31, 2014, as adjusted Guarantor/ Issuer Non-Guarantor Total Parent Subsidiary Subsidiaries Eliminations Consolidated Operating revenue $ — $ $ $ ) $ Operating costs and other ) Operating income (loss) from continuing operations ) Other income ) Interest expense ) ) — ) Equity in net income of subsidiaries — ) — Income from continuing operations before income taxes ) Income tax provision ) — Income from continuing operations ) Loss from discontinued operations before income taxes — — ) — ) Income tax provision — — — — — Loss from discontinued operations — — ) — ) Net income $ $ $ $ ) $ CONSOLIDATED CONDENSED STATEMENTS OF COMPREHENSIVE INCOME (in thousands) Three Months Ended December 31, 2014, as adjusted Guarantor/ Issuer Non-Guarantor Total Parent Subsidiary Subsidiaries Eliminations Consolidated Net income $ $ $ $ ) $ Other comprehensive income (loss), net of income taxes: Unrealized depreciation on securities, net — ) — — ) Minimum pension liability adjustments, net — — Other comprehensive income (loss) ) — — ) Comprehensive income $ $ $ $ ) $ CONSOLIDATED CONDENSED BALANCE SHEETS (in thousands) December 31, 2015 Guarantor/ Issuer Non-Guarantor Total Parent Subsidiary Subsidiaries Eliminations Consolidated ASSETS Current assets: Cash and cash equivalents $ ) $ $ $ — $ Short-term investments — — — Accounts receivable, net of reserve ) ) Inventories — — Prepaid expenses and other ) Current assets of discontinued operations — — — Total current assets ) Investments — — Property, plant and equipment, net — Intercompany ) — Other assets ) Investment in subsidiaries — ) — Total assets $ $ $ $ ) $ LIABILITIES AND SHAREHOLDERS’ EQUITY Current liabilities: Long-term debt due within one year $ — $ $ — $ — $ Accounts payable ) Accrued liabilities ) Current liabilities of discontinued operations — — — Total current liabilities ) Noncurrent liabilities: Long-term debt — — — Deferred income taxes — ) Intercompany ) — Other — Noncurrent liabilities of discontinued operations — — — Total noncurrent liabilities ) Shareholders’ equity: Common stock — ) Additional paid-in capital ) Retained earnings ) Accumulated other comprehensive loss ) ) — ) Treasury stock, at cost ) — — — ) Total shareholders’ equity ) Total liabilities and shareholders’ equity $ $ $ $ ) $

Subsequent Events

Subsequent Events	3 Months Ended
	Dec. 31, 2015
Subsequent Events
Subsequent Events	17. Subsequent Events Due to the continued downturn in the oil and gas industry from the decline in oil prices, our customers have reduced their drilling activity. Based on received early termination notices, early termination revenue recognized is expected to be over $78 million during the second quarter of fiscal 2016.

Basis of Presentation (Tables)

Basis of Presentation (Tables)	3 Months Ended
	Dec. 31, 2015
Basis of Presentation
Schedule of restatement of financials from adoption of accounting principle change	After Voluntary Change in Accounting As Reported Adjustments Principle Three Months Ended December 31, 2014 (in thousands) Operating revenues $ $ $ Operating costs, excluding depreciation Net income Diluted earnings per common share September 30, 2015 (in thousands) Total assets $ $ ) $ Total liabilities ) Total shareholders’ equity )

Earnings per Share (Tables)

Earnings per Share (Tables)	3 Months Ended
	Dec. 31, 2015
Earnings per Share
Schedule of computation of basic and diluted earnings per share	Three Months Ended December 31, 2015 2014 (as adjusted) (in thousands, except per share amounts) Numerator: Income from continuing operations $ $ Income (loss) from discontinued operations ) Net income Adjustment for basic earnings per share: Earnings allocated to unvested shareholders ) ) Numerator for basic earnings per share: From continuing operations From discontinued operations ) Adjustment for diluted earnings per share: Effect of reallocating undistributed earnings of unvested shareholders — Numerator for diluted earnings per share: From continuing operations From discontinued operations ) $ $ Denominator: Denominator for basic earnings per share — weighted-average shares Effect of dilutive shares from stock options and restricted stock Denominator for diluted earnings per share — adjusted weighted-average shares Basic earnings per common share: Income from continuing operations $ $ Income from discontinued operations — — Net income $ $ Diluted earnings per common share: Income from continuing operations $ $ Income from discontinued operations — — Net income $ $
Schedule of shares attributable to outstanding equity awards excluded from the calculation of diluted earnings per share	Three Months Ended December 31, 2015 2014 (in thousands, except per share amounts) Shares excluded from calculation of diluted earnings per share Weighted-average price per share $ $

Financial Instruments and Fai29

Financial Instruments and Fair Value Measurement (Tables)	3 Months Ended
	Dec. 31, 2015
Financial Instruments and Fair Value Measurement
Summary of available-for-sale securities	Gross Gross Estimated Unrealized Unrealized Fair Cost Gains Losses Value (in thousands) Equity securities December 31, 2015 $ $ $ $ Equity securities September 30, 2015 $ $ $ $
Summary of assets measured at fair value on a recurring basis	Total Level 1 Level 2 Level 3 (in thousands) Short-term investments: Certificate of deposit $ $ — $ $ — Corporate debt securities — — U.S. government and federal agency securities — Total short-term investments — Cash and cash equivalents — Investments — — Other current assets — Other assets — — Total assets measured at fair value $ $ $ $ —
Summary of supplemental fair value information about long-term fixed-rate debt	December 31, September 30, 2015 2015 (in millions) Carrying value of long-term fixed-rate debt $ $ Fair value of long-term fixed-rate debt $ $

Shareholders' Equity (Tables)

Shareholders' Equity (Tables)	3 Months Ended
	Dec. 31, 2015
Shareholders' Equity
Schedule of components of accumulated other comprehensive income (loss)	December 31, September 30, 2015 2015 (in thousands) Pre-tax amounts: Unrealized appreciation on securities $ $ Unrecognized actuarial loss ) ) $ ) $ ) After-tax amounts: Unrealized appreciation on securities $ $ Unrecognized actuarial loss ) ) $ ) $ )
Summary of the changes in accumulated other comprehensive income (loss), net of tax, by component	Three Months Ended December 31, 2015 Unrealized Appreciation (Depreciation) on Defined Available-for-sale Benefit Securities Pension Plan Total (in thousands) Balances at September 30, 2015 $ $ ) $ ) Other comprehensive loss before reclassifications ) — ) Amounts reclassified from accumulated other comprehensive income — Net current-period other comprehensive income (loss) ) ) Balances at December 31, 2015 $ $ ) $ )
Schedule of accumulated other comprehensive income (loss) components which were reclassified to the Consolidated Statement of Income	Amount Reclassified from Accumulated Other Comprehensive Income (Loss) Details About Accumulated Other Three Months Ended Affected Line Item in the Comprehensive Income December 31, Condensed Consolidated (Loss) Components 2015 2014 Statement of Income (in thousands) Defined Benefit Pension Items Amortization of net actuarial loss $ $ General and administrative ) ) Income tax provision Total reclassifications for the period $ $ Net of tax

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	3 Months Ended
	Dec. 31, 2015
Stock-Based Compensation
Summary of compensation cost for stock-based payment arrangements recognized in general and administrative expense	Three Months Ended December 31, 2015 2014 (in thousands) Compensation expense Stock options $ $ Restricted stock $ $
Summary of weighted-average assumptions utilized in determining the fair value of options granted	2015 2014 Risk-free interest rate % % Expected stock volatility % % Dividend yield % % Expected term (in years)
Summary of stock option activity	Three Months Ended December 31, 2015 Weighted- Weighted- Average Aggregate Average Remaining Intrinsic Shares Exercise Contractual Term Value Options (in thousands) Price (in years) (in millions) Outstanding at October 1, 2015 $ Granted Exercised ) Forfeited/Expired ) Outstanding at December 31, 2015 $ $ Vested and expected to vest at December 31, 2015 $ $ Exercisable at December 31, 2015 $ $
Summary of restricted stock awards and changes in restricted stock outstanding	Three Months Ended December 31, 2015 Weighted- Average Shares Grant-Date Restricted Stock Awards (in thousands) Fair Value Unvested at October 1, 2015 $ Granted Vested (1) ) Forfeited ) Unvested at December 31, 2015 $ (1) The number of restricted stock awards vested includes shares that we withheld on behalf of our employees to satisfy the statutory tax withholding requirements.

Debt (Tables)

Debt (Tables)	3 Months Ended
	Dec. 31, 2015
Debt
Schedule of components of unsecured long-term debt outstanding	Unamortized Discount and Principal Debt Issuance Costs December 31, September 30, December 31, September 30, 2015 2015 2015 2015 (in thousands) Unsecured senior notes issued July 21, 2009: Due July 21, 2016 $ $ $ ) $ ) Unsecured senior notes issued March 19, 2015: Due March 19, 2025 ) ) ) ) Less long-term debt due within one year ) ) Long-term debt $ $ $ ) $ )

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Dec. 31, 2015
Segment Information
Summary of financial information of the entity's reportable segments for continuing operations	Segment External Inter- Total Operating (in thousands) Sales Segment Sales Income (Loss) December 31, 2015 Contract Drilling: U.S. Land $ $ — $ $ Offshore — International Land — ) — Other ) Eliminations — ) ) — Total $ $ — $ $ Segment External Inter- Total Operating (in thousands) Sales Segment Sales Income (Loss) December 31, 2014, as adjusted Contract Drilling: U.S. Land $ $ — $ $ Offshore — International Land — — Other ) Eliminations — ) ) — Total $ $ — $ $
Schedule of reconciliation of segment operating income to income from continuing operations before income taxes	Three Months Ended December 31, 2015 2014 (as adjusted) (in thousands) Segment operating income $ $ Income from asset sales Corporate general and administrative costs and corporate depreciation ) ) Operating income Other income (expense): Interest and dividend income Interest expense ) ) Other ) Total other income (expense) ) Income from continuing operations before income taxes $ $
Schedule of total assets by reportable segments	September 30, December 31, 2015 2015 (as adjusted) (in thousands) Total assets U.S. Land $ $ Offshore International Land Other Investments and corporate operations Total assets from continued operations Discontinued operations $ $
Schedule of revenues from external customers by country based on the location of service provided	Three Months Ended December 31, 2015 2014 (as adjusted) (in thousands) Operating revenues United States $ $ Argentina Colombia Ecuador Other foreign Total $ $

Pensions and Other Post-retir34

Pensions and Other Post-retirement Benefits (Tables)	3 Months Ended
	Dec. 31, 2015
Pensions and Other Post-retirement Benefits
Schedule of components of net periodic benefit cost	Three Months Ended December 31, 2015 2014 (in thousands) Interest cost $ $ Expected return on plan assets ) ) Recognized net actuarial loss Net pension expense (benefit) $ $ )

Supplemental Cash Flow Inform35

Supplemental Cash Flow Information (Tables)	3 Months Ended
	Dec. 31, 2015
Supplemental Cash Flow Information
Schedule of supplement cash flow information	Three Months Ended December 31, 2015 2014 (as adjusted) (in thousands) Capital expenditures incurred $ $ Additions incurred prior year but paid for in current period Additions incurred but not paid for as of the end of the period ) ) Capital expenditures per Consolidated Condensed Statements of Cash Flows $ $

Guarantor and Non-Guarantor F36

Guarantor and Non-Guarantor Financial Information (Tables)	3 Months Ended
	Dec. 31, 2015
Guarantor and Non-Guarantor Financial Information
Schedule of Consolidated Condensed Statements of Income	CONSOLIDATED CONDENSED STATEMENTS OF INCOME (in thousands) Three Months Ended December 31, 2015 Guarantor/ Issuer Non-Guarantor Total Parent Subsidiary Subsidiaries Eliminations Consolidated Operating revenue $ — $ $ $ ) $ Operating costs and other ) Operating income (loss) from continuing operations ) ) Other income ) Interest expense ) ) — ) Equity in net income (loss) of subsidiaries ) — ) — Income (loss) from continuing operations before income taxes ) ) Income tax provision ) — Income (loss) from continuing operations ) ) Income from discontinued operations before income taxes — — — Income tax provision — — — — — Income from discontinued operations — — — Net income (loss) $ $ $ ) $ ) $ CONSOLIDATED CONDENSED STATEMENTS OF INCOME (in thousands) Three Months Ended December 31, 2014, as adjusted Guarantor/ Issuer Non-Guarantor Total Parent Subsidiary Subsidiaries Eliminations Consolidated Operating revenue $ — $ $ $ ) $ Operating costs and other ) Operating income (loss) from continuing operations ) Other income ) Interest expense ) ) — ) Equity in net income of subsidiaries — ) — Income from continuing operations before income taxes ) Income tax provision ) — Income from continuing operations ) Loss from discontinued operations before income taxes — — ) — ) Income tax provision — — — — — Loss from discontinued operations — — ) — ) Net income $ $ $ $ ) $
Schedule of Consolidated Condensed Statements of Comprehensive Income	CONSOLIDATED CONDENSED STATEMENTS OF COMPREHENSIVE INCOME (in thousands) Three Months Ended December 31, 2015 Guarantor/ Issuer Non-Guarantor Total Parent Subsidiary Subsidiaries Eliminations Consolidated Net income (loss) $ $ $ ) $ ) $ Other comprehensive income (loss), net of income taxes: Unrealized depreciation on securities, net — ) — — ) Minimum pension liability adjustments, net — — Other comprehensive income (loss) ) — — ) Comprehensive income (loss) $ $ $ ) $ ) $ CONSOLIDATED CONDENSED STATEMENTS OF COMPREHENSIVE INCOME (in thousands) Three Months Ended December 31, 2014, as adjusted Guarantor/ Issuer Non-Guarantor Total Parent Subsidiary Subsidiaries Eliminations Consolidated Net income $ $ $ $ ) $ Other comprehensive income (loss), net of income taxes: Unrealized depreciation on securities, net — ) — — ) Minimum pension liability adjustments, net — — Other comprehensive income (loss) ) — — ) Comprehensive income $ $ $ $ ) $
Schedule of Consolidated Condensed Balance Sheets	CONSOLIDATED CONDENSED BALANCE SHEETS (in thousands) December 31, 2015 Guarantor/ Issuer Non-Guarantor Total Parent Subsidiary Subsidiaries Eliminations Consolidated ASSETS Current assets: Cash and cash equivalents $ ) $ $ $ — $ Short-term investments — — — Accounts receivable, net of reserve ) ) Inventories — — Prepaid expenses and other ) Current assets of discontinued operations — — — Total current assets ) Investments — — Property, plant and equipment, net — Intercompany ) — Other assets ) Investment in subsidiaries — ) — Total assets $ $ $ $ ) $ LIABILITIES AND SHAREHOLDERS’ EQUITY Current liabilities: Long-term debt due within one year $ — $ $ — $ — $ Accounts payable ) Accrued liabilities ) Current liabilities of discontinued operations — — — Total current liabilities ) Noncurrent liabilities: Long-term debt — — — Deferred income taxes — ) Intercompany ) — Other — Noncurrent liabilities of discontinued operations — — — Total noncurrent liabilities ) Shareholders’ equity: Common stock — ) Additional paid-in capital ) Retained earnings ) Accumulated other comprehensive loss ) ) — ) Treasury stock, at cost ) — — — ) Total shareholders’ equity ) Total liabilities and shareholders’ equity $ $ $ $ ) $ CONSOLIDATED CONDENSED BALANCE SHEETS (in thousands) September 30, 2015, as adjusted Guarantor/ Issuer Non-Guarantor Total Parent Subsidiary Subsidiaries Eliminations Consolidated ASSETS Current assets: Cash and cash equivalents $ ) $ $ $ — $ Short-term investments — — — Accounts receivable, net of reserve ) Inventories — — Deferred income taxes — ) Prepaid expenses and other ) Current assets of discontinued operations — — — Total current assets ) Investments — — Property, plant and equipment, net — Intercompany ) — Other assets ) Investment in subsidiaries — ) — Total assets $ $ $ $ ) $ LIABILITIES AND SHAREHOLDERS’ EQUITY Current liabilities: Long-term debt due within one year $ — $ $ — $ — $ Accounts payable ) Accrued liabilities ) Current liabilities of discontinued operations — — — Total current liabilities ) Noncurrent liabilities: Long-term debt — — — Deferred income taxes — ) Intercompany ) — Other — Noncurrent liabilities of discontinued operations — — — Total noncurrent liabilities ) Shareholders’ equity: Common stock — ) Additional paid-in capital ) Retained earnings ) Accumulated other comprehensive income (loss) ) — ) ) Treasury stock, at cost ) — — — ) Total shareholders’ equity ) Total liabilities and shareholders’ equity $ $ $ $ ) $
Schedule of Consolidated Condensed Statements of Cash Flows	CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (in thousands) Three Months Ended December 31, 2015 Guarantor/ Issuer Non-Guarantor Total Parent Subsidiary Subsidiaries Eliminations Consolidated Net cash provided by (used in) operating activities $ $ $ ) $ — $ INVESTING ACTIVITIES: Capital expenditures ) ) ) — ) Intercompany transfers ) — — — Purchase of short-term investments — ) — — ) Proceeds from sale of short-term investments — — — Proceeds from asset sales — — Net cash used in investing activities — ) ) — ) FINANCING ACTIVITIES: Dividends paid ) — — — ) Intercompany transfers ) — — — Debt issuance costs — ) — — ) Exercise of stock options, net of tax withholding ) — — — ) Tax withholdings related to net share settlements of restricted stock ) — — — ) Excess tax benefit from stock-based compensation ) — ) Net cash provided by (used in) financing activities ) ) — ) Net increase (decrease) in cash and cash equivalents ) — Cash and cash equivalents, beginning of period ) — Cash and cash equivalents, end of period $ ) $ $ $ — $ CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (in thousands) Three Months Ended December 31, 2014, as adjusted Guarantor/ Issuer Non-Guarantor Total Parent Subsidiary Subsidiaries Eliminations Consolidated Net cash provided by operating activities $ $ $ $ — $ INVESTING ACTIVITIES: Capital expenditures ) ) ) — ) Intercompany transfers ) — — — Proceeds from asset sales — — Net cash used in investing activities — ) ) — ) FINANCING ACTIVITIES: Dividends paid ) — — — ) Repurchase of common stock ) — — — ) Intercompany transfers ) — — — Exercise of stock options, net of tax withholding ) — — — ) Tax withholdings related to net share settlements of restricted stock ) — — — ) Excess tax benefit from stock-based compensation — Net cash provided by (used in) financing activities ) ) — ) Net increase (decrease) in cash and cash equivalents ) ) — ) Cash and cash equivalents, beginning of period ) — Cash and cash equivalents, end of period $ $ $ $ — $

Basis of Presentation (Details)

Basis of Presentation (Details) - USD ($) $ / shares in Units, $ in Thousands	Oct. 01, 2013	Mar. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Sep. 30, 2015
Basis of presentation
Cumulative effect of an accounting change to retained earnings net of income tax	$ 1,600
Operating revenues			$ 487,847	$ 1,060,787
Operating costs, excluding depreciation			276,644	559,463
Net income			$ 16,002	$ 203,608
Basic earnings per common share (in dollars per share)			$ 0.15	$ 1.86
Total assets			$ 7,130,274		$ 7,147,242
Total liabilities					2,251,396
Total shareholders' equity			4,830,293		4,895,846
Early termination revenue			28,900	$ 23,400
Abandonments			500	2,200
Foreign currency losses			8,500	(1,500)
Previous Accounting Guidance [Member]
Basis of presentation
Net income			5,400
Foreign currency losses			$ (6,300)
Subsequent Event.
Basis of presentation
Early termination revenue		$ 78,000
As Reported
Basis of presentation
Operating revenues				1,056,585
Operating costs, excluding depreciation				554,243
Net income				$ 203,042
Basic earnings per common share (in dollars per share)				$ 1.85
Total assets					7,152,012
Total liabilities					2,254,560
Total shareholders' equity					4,897,452
Adjustments
Basis of presentation
Operating revenues				$ 4,202
Operating costs, excluding depreciation				5,220
Net income				$ 566
Basic earnings per common share (in dollars per share)				$ 0.01
Total assets					(4,770)
Total liabilities					(3,164)
Total shareholders' equity					$ (1,606)

Earnings per Share (Details)

Earnings per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Numerator:
Income from continuing operations	$ 15,898	$ 203,623
Income (loss) from discontinued operations	104	(15)
NET INCOME	16,002	203,608
Adjustment for basic earnings per share:
Earnings allocated to unvested shareholders	(260)	(1,258)
Numerator for basic earnings per share:
From continuing operations	15,638	202,365
Income (loss) from discontinued operations	104	(15)
Net income (loss) attributable to parent, basic	15,742	202,350
Adjustment for diluted earnings per share:
Effect of reallocating undistributed earnings of unvested shareholders		6
Numerator for diluted earnings per share:
From continuing operations	15,638	202,371
Income (loss) from discontinued operations	104	(15)
Net income (loss) attributable to parent, diluted	$ 15,742	$ 202,356
Denominator:
Denominator for basic earnings per share - weighted-average shares	107,852	107,973
Effect of dilutive shares from stock options and restricted stock (in shares)	557	870
Denominator for diluted earnings per share - adjusted weighted-average shares	108,409	108,843
Basic earnings per common share:
Income from continuing operations (in dollars per share)	$ 0.15	$ 1.87
Net income (in dollars per share)	0.15	1.87
Diluted earnings per common share:
Income from continuing operations (in dollars per share)	0.15	1.86
Net income (in dollars per share)	$ 0.15	$ 1.86
Outstanding equity awards
Shares excluded from calculation of diluted earnings per share	1,899	669
Weighted-average price per share (in dollars per share)	$ 63.66	$ 72.87

Financial Instruments and Fai39

Financial Instruments and Fair Value Measurement - Equity Securities (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015
Available-for-sale securities
Available-for-sale securities in unrealized loss positions, number of days	30 days	30 days
Quoted Prices in Active Markets for Identical Assets (Level 1)
Non-qualified Supplemental Savings Plan
Assets held in Non-qualified Supplement Savings Plan, at fair value	$ 11,700	$ 12,900
Equity securities
Available-for-sale securities
Cost	64,462	64,462
Gross Unrealized Gains	28,895	28,530
Gross Unrealized Losses	19,829	1,509
Estimated Fair Value	$ 73,528	$ 91,483

Financial Instruments and Fai40

Financial Instruments and Fair Value Measurement - Recurring (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Sep. 30, 2015
Supplemental fair value information about long-term fixed-rate debt
Carrying value of long-term fixed-rate debt	$ 531,800	$ 531,500
Fixed-rate debt	540,000	540,000
Unsecured senior notes issued July 21, 2009
Supplemental fair value information about long-term fixed-rate debt
Fixed-rate debt	40,000
Unsecured senior notes issued March 19, 2015
Supplemental fair value information about long-term fixed-rate debt
Fixed-rate debt	500,000	500,000
Quoted Prices in Active Markets for Identical Assets (Level 1) | Recurring basis
Short-term investments:
Short-term investments	8,716
Assets:
Cash and cash equivalents	848,230
Investments	73,528
Other current assets	37,005
Other assets	2,000
Total assets measured at fair value	969,479
Significant Other Observable Inputs (Level 2)
Supplemental fair value information about long-term fixed-rate debt
Fair value of long-term fixed-rate debt	540,400	$ 553,500
Significant Other Observable Inputs (Level 2) | Recurring basis
Short-term investments:
Short-term investments	38,992
Assets:
Other current assets	250
Total assets measured at fair value	39,242
Certificate of deposit | Significant Other Observable Inputs (Level 2) | Recurring basis
Short-term investments:
Short-term investments	2,100
Corporate debt securities | Significant Other Observable Inputs (Level 2) | Recurring basis
Short-term investments:
Short-term investments	25,450
U.S. government and federal agency securities | Quoted Prices in Active Markets for Identical Assets (Level 1) | Recurring basis
Short-term investments:
Short-term investments	8,716
U.S. government and federal agency securities | Significant Other Observable Inputs (Level 2) | Recurring basis
Short-term investments:
Short-term investments	11,442
Total Measure at Fair Value | Recurring basis
Short-term investments:
Short-term investments	47,708
Assets:
Cash and cash equivalents	848,230
Investments	73,528
Other current assets	37,255
Other assets	2,000
Total assets measured at fair value	1,008,721
Total Measure at Fair Value | Certificate of deposit | Recurring basis
Short-term investments:
Short-term investments	2,100
Total Measure at Fair Value | Corporate debt securities | Recurring basis
Short-term investments:
Short-term investments	25,450
Total Measure at Fair Value | U.S. government and federal agency securities | Recurring basis
Short-term investments:
Short-term investments	$ 20,158

Shareholders' Equity - AOCI Com

Shareholders' Equity - AOCI Components (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Sep. 30, 2015
Repurchase of shares
Repurchase of common stock (in shares)	0	810,097
Aggregate cost of treasury shares purchase		$ 59,700
After-tax amounts:
Stockholders' Equity Attributable to Parent	$ 4,830,293		$ 4,895,846
Accumulated other comprehensive income loss	$ (12,074)		(1,377)
Maximum
Repurchase of shares
Number of common shares authorized to be repurchased	4,000,000
Unrealized appreciation on securities
Pre-tax amounts:
Accumulated other comprehensive income (loss) before tax	$ 9,066		27,021
After-tax amounts:
Stockholders' Equity Attributable to Parent	6,191		17,201
Defined Benefit Pension Plan
Pre-tax amounts:
Accumulated other comprehensive income (loss) before tax	(29,651)		(30,144)
After-tax amounts:
Stockholders' Equity Attributable to Parent	$ (18,265)		$ (18,578)

Shareholders' Equity - AOCI Cha

Shareholders' Equity - AOCI Changes (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance	$ 4,895,846
Balance	4,830,293	$ 4,895,846
Unrealized appreciation on securities
Pre-tax amounts:
Accumulated other comprehensive income (loss) before tax	9,066	27,021
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance	17,201
Other comprehensive loss before reclassifications	(11,010)
Net current-period other comprehensive loss	(11,010)
Balance	6,191	17,201
Defined Benefit Pension Plan
Pre-tax amounts:
Accumulated other comprehensive income (loss) before tax	(29,651)	(30,144)
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance	(18,578)
Amounts reclassified from accumulated other comprehensive income (loss)	313
Net current-period other comprehensive loss	313
Balance	(18,265)	(18,578)
Accumulated Other Comprehensive Income.
Pre-tax amounts:
Accumulated other comprehensive income (loss) before tax	(20,585)	(3,123)
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance	(1,377)
Other comprehensive loss before reclassifications	(11,010)
Amounts reclassified from accumulated other comprehensive income (loss)	313
Net current-period other comprehensive loss	(10,697)
Balance	$ (12,074)	$ (1,377)

Shareholders' Equity - AOCI Rec

Shareholders' Equity - AOCI Reclassifications (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Accumulated other comprehensive income (loss) components which were reclassified to the Consolidated Statement of Income
General and administrative	$ (32,074)	$ (32,736)
Reclassification out of AOCI | Amortization of net actuarial loss
Accumulated other comprehensive income (loss) components which were reclassified to the Consolidated Statement of Income
General and administrative	493	309
Income tax provision	(180)	(113)
Total reclassifications for the period	$ 313	$ 196

Cash Dividends (Details)

Cash Dividends (Details) - $ / shares	Dec. 01, 2015	Sep. 02, 2015	Dec. 31, 2015	Dec. 31, 2014
Cash Dividends
Cash dividends declared, per share (in dollars per share)	$ 0.6875	$ 0.6875	$ 0.6875	$ 0.6875
Cash dividend paid, per share (in dollars per share)	$ 0.6875

Stock-Based Compensation (Detai

Stock-Based Compensation (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Common-stock based award plan
Compensation expense (in dollars)	$ 7,921	$ 6,982
Stock options
Common-stock based award plan
The period from the grant date after which options expire	10 years
Compensation expense (in dollars)	$ 3,550	$ 3,062
Weighted-average assumptions utilized in determining the fair value of options
Risk-free interest rate (as a percent)	1.80%	1.70%
Expected stock volatility (as a percent)	37.60%	37.00%
Dividend yield (as a percent)	4.60%	3.90%
Expected term	5 years 6 months	5 years 6 months
Options
Options outstanding at the beginning of the period (in shares)	2,776,000
Granted (in shares)	876,379
Exercised (in shares)	(119,000)
Forfeited/Expired (in shares)	(2,000)
Option outstanding at the end of the period (in shares)	3,531,000
Vested and expected to vest at the end of the period (in shares)	3,495,000
Exercisable at the end of the period (in shares)	2,331,000
Weighted-Average Exercise Price
Outstanding at the beginning of the period (in dollars per share)	$ 48.51
Granted (in dollars per share)	58.25
Exercised (in dollars per share)	31.19
Forfeited/Expired (in dollars per share)	54.65
Outstanding at the end of the period (in dollars per share)	51.51
Vested and expected to vest at the end of the period (in dollars per share)	51.39
Exercisable at the end of the period (in dollars per share)	$ 46.06
Weighted- Average Remaining Contractual Term
Outstanding at the end of the period	6 years 4 months 24 days
Vested and expected to vest at the end of the period	6 years 4 months 24 days
Exercisable at the end of the period	4 years 10 months 24 days
Aggregate Intrinsic Value
Outstanding at the end of the period (in dollars)	$ 26,600
Vested and expected to vest at the end of the period (in dollars)	26,700
Exercisable at the end of the period (in dollars)	$ 26,600
Weighted-average fair value of options granted (in dollars per share)	$ 13.12
Total intrinsic value of options exercised (in dollars)	$ 3,100
Unrecognized compensation cost (in dollars)	$ 12,700
Weighted-average period over which unrecognized compensation cost is expected to be recognized	3 years 4 months 24 days
Restricted stock
Common-stock based award plan
Compensation expense (in dollars)	$ 4,371	$ 3,920
Options
Granted (in shares)	294,000
Aggregate Intrinsic Value
Unrecognized compensation cost (in dollars)	$ 33,100
Weighted-average period over which unrecognized compensation cost is expected to be recognized	2 years 10 months 24 days
Restricted stock awards activity, shares
Unvested at the beginning of the period (in shares)	668,000
Granted (in shares)	294,575
Vested (in shares)	(256,000)
Forfeited/Expired (in shares)	(3,000)
Unvested at the end of the period (in shares)	703,000
Restricted stock awards activity, weighted average grant date fair value
Unvested at the beginning of the period (in dollars per share)	$ 67.03
Granted (in dollars per share)	58.25
Vested (in dollars per share)	64.75
Forfeited/Expired (in dollars per share)	68.57
Unvested at the end of the period (in dollars per share)	$ 64.17
Restricted stock | Minimum
Common-stock based award plan
Vesting period	3 years
Restricted stock | Maximum
Common-stock based award plan
Vesting period	6 years

Debt (Details)

Debt (Details) $ in Thousands	Mar. 19, 2015USD ($)	Dec. 31, 2015USD ($)item	Sep. 30, 2015USD ($)
Debt
Unsecured long-term debt		$ 540,000	$ 540,000
Less long-term debt due within one year		40,000	40,000
Long-term debt		500,000	500,000
Unamortized discount and debt issuance costs		(8,240)	(8,463)
Less unamortized debt issuance costs		(908)	(906)
Unamortized discount and debt issuance costs, noncurrent		$ (7,332)	(7,557)
Issued to support international operations
Debt
Number of letters of credit outstanding | item		2
Letters of credit outstanding/issued		$ 12,000
Unsecured revolving credit facility mature May 25, 2017
Debt
Borrowing amount		$ 300,000
Commitment fee (as a percent)		0.15%
Borrowing amount outstanding		$ 0
Available borrowing capacity excluding letters of credit transaction		$ 259,700
Unsecured revolving credit facility mature May 25, 2017 | Maximum
Debt
Funded leverage ratio (as a percent)		50.00%
Commitment fee (as a percent)		0.35%
Unsecured revolving credit facility mature May 25, 2017 | Minimum
Debt
Interest coverage ratio		3
Commitment fee (as a percent)		0.15%
Unsecured revolving credit facility mature May 25, 2017 | London Interbank Offered Rate (LIBOR)
Debt
LIBOR spread on borrowings (as a percent)		1.125%
Unsecured revolving credit facility mature May 25, 2017 | London Interbank Offered Rate (LIBOR) | Maximum
Debt
LIBOR spread on borrowings (as a percent)		1.75%
Unsecured revolving credit facility mature May 25, 2017 | London Interbank Offered Rate (LIBOR) | Minimum
Debt
LIBOR spread on borrowings (as a percent)		1.125%
Unsecured revolving credit facility mature May 25, 2017 | Letter of credit
Debt
Available borrowing capacity to use for letters of credit		$ 100,000
Number of letters of credit outstanding | item		3
Letters of credit outstanding/issued		$ 40,300
Unsecured senior notes issued July 21, 2009
Debt
Unsecured long-term debt		$ 40,000
Long-term debt stated interest rate percentage		6.10%
Annual principal repayments		$ 40,000
Unsecured senior notes issued July 21, 2009 | Maximum
Debt
Funded leverage ratio (as a percent)		55.00%
Unsecured senior notes issued July 21, 2009 | Minimum
Debt
Interest coverage ratio		2.50
Due July 21, 2016
Debt
Unsecured long-term debt		$ 40,000	40,000
Unamortized discount and debt issuance costs		(441)	(498)
Unsecured senior notes issued March 19, 2015
Debt
Unsecured long-term debt		500,000	500,000
Unamortized discount and debt issuance costs		$ (7,799)	$ (7,965)
Long-term debt stated interest rate percentage	4.65%
Debt issued	$ 500,000
Term of debt	10 years

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Income Taxes
Effective income tax rate (as a percent)	54.10%	38.40%
Effective income tax rates as compared to the U.S. Federal income tax rate
U.S. federal statutory rate (as a percent)	35.00%

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Millions	Dec. 31, 2015USD ($)
Commitments and Contingencies
Purchase orders outstanding for drilling equipment	$ 38.1
Gain contingencies recognized in consolidated financial statements	$ 0

Segment Information - Income by

Segment Information - Income by Segment (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Segment information
Sales	$ 487,847	$ 1,060,787
Segment Operating Income (Loss)	55,285	348,453
Reconciliation of segment operating income to income from continuing operations before income taxes
Segment operating income	55,285	348,453
Income from asset sales	4,589	4,173
Corporate general and administrative costs and corporate depreciation	(21,204)	(22,255)
Operating income from continuing operations	38,670	330,371
Other income (expense):
Interest and dividend income	733	295
Interest expense	(4,524)	(590)
Other	(261)	314
Total other income (expense)	(4,052)	19
Income from continuing operations before income taxes	34,618	330,390
Other
Segment information
Sales	3,968	4,180
Segment Operating Income (Loss)	(1,304)	(1,899)
Reconciliation of segment operating income to income from continuing operations before income taxes
Segment operating income	(1,304)	(1,899)
Operating segment
Segment information
Sales	488,066	1,061,009
Operating segment | Other
Segment information
Sales	4,187	4,402
Inter-Segment
Segment information
Sales	(219)	(222)
Inter-Segment | Other
Segment information
Sales	219	222
Contract Drilling:
Segment information
Sales	483,879	1,056,607
Segment Operating Income (Loss)	56,589	350,352
Reconciliation of segment operating income to income from continuing operations before income taxes
Segment operating income	56,589	350,352
Contract Drilling: | U.S. Land
Segment information
Sales	369,805	890,047
Segment Operating Income (Loss)	55,532	318,129
Reconciliation of segment operating income to income from continuing operations before income taxes
Segment operating income	55,532	318,129
Contract Drilling: | Offshore
Segment information
Sales	41,880	69,887
Segment Operating Income (Loss)	7,722	21,662
Reconciliation of segment operating income to income from continuing operations before income taxes
Segment operating income	7,722	21,662
Contract Drilling: | International Land
Segment information
Sales	72,194	96,673
Segment Operating Income (Loss)	(6,665)	10,561
Reconciliation of segment operating income to income from continuing operations before income taxes
Segment operating income	(6,665)	10,561
Contract Drilling: | Operating segment
Segment information
Sales	483,879	1,056,607
Contract Drilling: | Operating segment | U.S. Land
Segment information
Sales	369,805	890,047
Contract Drilling: | Operating segment | Offshore
Segment information
Sales	41,880	69,887
Contract Drilling: | Operating segment | International Land
Segment information
Sales	$ 72,194	$ 96,673

Segment Information - Income Re

Segment Information - Income Reconciliation (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Sep. 30, 2015
Segment information
Total assets	$ 7,130,274		$ 7,147,242
Operating revenues	487,847	$ 1,060,787
United States
Segment information
Operating revenues	409,506	956,281
Colombia
Segment information
Operating revenues	6,743	23,937
Argentina
Segment information
Operating revenues	49,786	28,476
Ecuador
Segment information
Operating revenues	3,940	13,890
Other foreign
Segment information
Operating revenues	17,872	38,203
Continued operations
Segment information
Total assets	7,121,825		7,139,145
Discontinued operations.
Segment information
Total assets	8,449		8,097
Other
Segment information
Operating revenues	3,968	4,180
Operating segment
Segment information
Total assets	6,019,687		6,152,140
Operating revenues	488,066	1,061,009
Operating segment | U.S. Land
Segment information
Total assets	5,321,369		5,429,179
Operating segment | Offshore
Segment information
Total assets	116,563		118,852
Operating segment | International Land
Segment information
Total assets	544,257		565,712
Operating segment | Other
Segment information
Total assets	37,498		38,397
Operating revenues	4,187	$ 4,402
Investments and corporate operations
Segment information
Total assets	$ 1,102,138		$ 987,005

Pensions and Other Post-retir51

Pensions and Other Post-retirement Benefits (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Components of Net Periodic Benefit Cost
Interest cost	$ 1,116	$ 1,171
Expected return on plan assets	(1,490)	(1,743)
Recognized net actuarial loss	493	309
Net pension expense (benefit)	119	$ (263)
Employer Contributions
Employer contribution	$ 0

Supplemental Cash Flow Inform52

Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Reconciliation of total capital expenditures incurred to total capital expenditures in the consolidated statements of cash flows
Capital expenditures incurred	$ 111,325	$ 353,007
Additions incurred prior year but paid for in current year	25,344	123,548
Additions incurred but not paid for as of the end of the year	(22,199)	(106,574)
Capital expenditures per Consolidated Condensed Statements of Cash Flows	$ 114,470	$ 369,981

International Risk Factors (Det

International Risk Factors (Details) $ in Millions	3 Months Ended
	Dec. 31, 2015USD ($)item	Dec. 31, 2014USD ($)	Jun. 30, 2010item
Number of rigs expropriated by Venezuelan government			11
Foreign currency losses | $	$ 8.5	$ (1.5)
Operating revenues | Geographic concentration risk | South America
Concentration percentage	83.80%
Minimum
Number of geographical areas of operation to minimize risks	1
Contract Drilling: | Operating revenues | Geographic concentration risk | International locations
Concentration percentage	14.80%

Guarantor and Non-Guarantor F54

Guarantor and Non-Guarantor Financial Information - Debt (Details) - Unsecured senior notes issued March 19, 2015 $ in Millions	Mar. 19, 2015USD ($)
Financial Information
Debt issued	$ 500
Issuer Subsidiary
Financial Information
Debt issued	$ 500

Guarantor and Non-Guarantor F55

Guarantor and Non-Guarantor Financial Information - Income Statement (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
CONDENSED CONSOLIDATING STATEMENTS OF INCOME
Operating revenues	$ 487,847	$ 1,060,787
Operating costs and other	449,177	730,416
Operating income from continuing operations	38,670	330,371
Other income (expense), net	472	609
Interest expense	(4,524)	(590)
Income from continuing operations before income taxes	34,618	330,390
Income tax provision	18,720	126,767
Income from continuing operations	15,898	203,623
Income from discontinued operations before income taxes	104	(15)
Income (loss) from discontinued operations	104	(15)
NET INCOME	16,002	203,608
Eliminations
CONDENSED CONSOLIDATING STATEMENTS OF INCOME
Operating revenues	(17)	(16)
Operating costs and other	(401)	(1,032)
Operating income from continuing operations	384	1,016
Other income (expense), net	(384)	(1,016)
Equity in net income of subsidiaries	(9,352)	(212,077)
Income from continuing operations before income taxes	(9,352)	(212,077)
Income from continuing operations	(9,352)	(212,077)
NET INCOME	(9,352)	(212,077)
Guarantor/Parent | Reportable Legal Entities
CONDENSED CONSOLIDATING STATEMENTS OF INCOME
Operating costs and other	2,705	3,021
Operating income from continuing operations	(2,705)	(3,021)
Other income (expense), net	20	1
Interest expense	(62)	(7)
Equity in net income of subsidiaries	17,549	205,359
Income from continuing operations before income taxes	14,802	202,332
Income tax provision	(1,200)	(1,276)
Income from continuing operations	16,002	203,608
NET INCOME	16,002	203,608
Issuer Subsidiary | Reportable Legal Entities
CONDENSED CONSOLIDATING STATEMENTS OF INCOME
Operating revenues	405,537	952,109
Operating costs and other	356,751	629,038
Operating income from continuing operations	48,786	323,071
Other income (expense), net	656	921
Interest expense	(4,718)
Interest income (expense)		18
Equity in net income of subsidiaries	(8,197)	6,718
Income from continuing operations before income taxes	36,527	330,728
Income tax provision	19,227	126,122
Income from continuing operations	17,300	204,606
NET INCOME	17,300	204,606
Non-Guarantor Subsidiaries | Reportable Legal Entities
CONDENSED CONSOLIDATING STATEMENTS OF INCOME
Operating revenues	82,327	108,694
Operating costs and other	90,122	99,389
Operating income from continuing operations	(7,795)	9,305
Other income (expense), net	180	703
Interest expense	256	(601)
Income from continuing operations before income taxes	(7,359)	9,407
Income tax provision	693	1,921
Income from continuing operations	(8,052)	7,486
Income from discontinued operations before income taxes	104	(15)
Income (loss) from discontinued operations	104	(15)
NET INCOME	$ (7,948)	$ 7,471

Guarantor and Non-Guarantor f56

Guarantor and Non-Guarantor financial information - Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
CONSOLIDATED CONDENSED STATEMENTS OF COMPREHENSIVE INCOME
Net income	$ 16,002	$ 203,608
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent
Unrealized depreciation on securities, net	(11,010)	(42,244)
Minimum pension liability adjustments, net	313	196
Other comprehensive loss	(10,697)	(42,048)
Comprehensive income	5,305	161,560
Reportable Legal Entities | Guarantor/Parent
CONSOLIDATED CONDENSED STATEMENTS OF COMPREHENSIVE INCOME
Net income	16,002	203,608
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent
Minimum pension liability adjustments, net	107	82
Other comprehensive loss	107	82
Comprehensive income	16,109	203,690
Reportable Legal Entities | Issuer Subsidiary
CONSOLIDATED CONDENSED STATEMENTS OF COMPREHENSIVE INCOME
Net income	17,300	204,606
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent
Unrealized depreciation on securities, net	(11,010)	(42,244)
Minimum pension liability adjustments, net	206	114
Other comprehensive loss	(10,804)	(42,130)
Comprehensive income	6,496	162,476
Reportable Legal Entities | Non-Guarantor Subsidiaries
CONSOLIDATED CONDENSED STATEMENTS OF COMPREHENSIVE INCOME
Net income	(7,948)	7,471
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent
Comprehensive income	(7,948)	7,471
Eliminations
CONSOLIDATED CONDENSED STATEMENTS OF COMPREHENSIVE INCOME
Net income	(9,352)	(212,077)
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent
Comprehensive income	$ (9,352)	$ (212,077)

Guarantor and Non-Guarantor F57

Guarantor and Non-Guarantor Financial Information - Balance Sheet (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Sep. 30, 2015	Dec. 31, 2014	Sep. 30, 2014
Current assets:
Cash and cash equivalents	$ 848,230	$ 729,384	$ 252,732	$ 360,307
Short-term Investments	47,708	45,543
Accounts receivable, net of reserve	373,896	445,948
Inventories	127,242	128,541
Deferred income taxes		17,206
Prepaid expenses and other	71,151	64,475
Current assets of discontinued operations	8,449	8,097
Total current assets	1,476,676	1,439,194
Investments	85,276	104,354
Property, plant and equipment, net	5,530,817	5,563,170
Other assets	37,505	40,524
Total assets	7,130,274	7,147,242
Current liabilities:
Long-term debt due within one year	39,092	39,094
Accounts payable	96,442	108,169
Accrued liabilities	269,946	197,557
Current liabilities of discontinued operations	3,310	3,377
Total current liabilities	408,790	348,197
Noncurrent liabilities:
Long-term debt	492,668	492,443
Deferred income taxes	1,295,601	1,295,916
Other	97,783	110,120
Noncurrent liabilities of discontinued operations	5,139	4,720
Total noncurrent liabilities	1,891,191	1,903,199
Shareholders' equity:
Common stock	$ 11,130	$ 11,099
Preferred stock
Additional paid-in capital	$ 427,590	$ 420,141
Retained earnings	4,589,597	4,648,346
Accumulated other comprehensive income loss	(12,074)	(1,377)
Treasury stock, at cost	(185,950)	(182,363)
Total shareholders' equity	4,830,293	4,895,846
Total liabilities and shareholders' equity	7,130,274	7,147,242
Eliminations
Current assets:
Accounts receivable, net of reserve	(5)	(5)
Deferred income taxes		(4,905)
Prepaid expenses and other	(6,357)	(7,903)
Total current assets	(6,362)	(12,813)
Intercompany	(1,502,600)	(1,439,161)
Other assets	(10,070)	(8,153)
Investment in subsidiaries	(5,850,844)	(5,851,341)
Total assets	(7,369,876)	(7,311,468)
Current liabilities:
Accounts payable	(5)	(5)
Accrued liabilities	(6,357)	(11,103)
Total current liabilities	(6,362)	(11,108)
Noncurrent liabilities:
Deferred income taxes	(10,070)	(13,058)
Intercompany	(1,502,600)	(1,435,961)
Total noncurrent liabilities	(1,512,670)	(1,449,019)
Shareholders' equity:
Common stock	(100)	(100)
Additional paid-in capital	(47,230)	(46,173)
Retained earnings	(5,810,462)	(5,801,212)
Accumulated other comprehensive income loss	6,948	(3,856)
Total shareholders' equity	(5,850,844)	(5,851,341)
Total liabilities and shareholders' equity	(7,369,876)	(7,311,468)
Guarantor/Parent | Reportable Legal Entities
Current assets:
Cash and cash equivalents	(705)	(838)	372	(2,050)
Accounts receivable, net of reserve	(8)	152
Deferred income taxes		2,834
Prepaid expenses and other	26,550	20,018
Total current assets	25,837	22,166
Investments	11,748	12,871
Property, plant and equipment, net	62,282	55,902
Intercompany	15,821	15,875
Other assets	10,304	8,387
Investment in subsidiaries	5,631,533	5,623,754
Total assets	5,757,525	5,738,955
Current liabilities:
Accounts payable	79,879	80,673
Accrued liabilities	11,610	10,688
Total current liabilities	91,489	91,361
Noncurrent liabilities:
Intercompany	818,406	733,008
Other	17,337	18,740
Total noncurrent liabilities	835,743	751,748
Shareholders' equity:
Common stock	11,130	11,099
Additional paid-in capital	427,590	420,141
Retained earnings	4,589,597	4,648,346
Accumulated other comprehensive income loss	(12,074)	(1,377)
Treasury stock, at cost	(185,950)	(182,363)
Total shareholders' equity	4,830,293	4,895,846
Total liabilities and shareholders' equity	5,757,525	5,738,955
Issuer Subsidiary | Reportable Legal Entities
Current assets:
Cash and cash equivalents	816,342	693,273	226,815	329,655
Short-term Investments	47,708	45,543
Accounts receivable, net of reserve	309,127	374,383
Inventories	86,889	88,010
Deferred income taxes		19,277
Prepaid expenses and other	7,133	6,713
Total current assets	1,267,199	1,227,199
Investments	73,528	91,483
Property, plant and equipment, net	5,038,560	5,063,705
Intercompany	1,233,222	1,192,634
Other assets	1,023	1,389
Investment in subsidiaries	219,311	227,587
Total assets	7,832,843	7,803,997
Current liabilities:
Long-term debt due within one year	39,092	39,094
Accounts payable	10,922	20,404
Accrued liabilities	218,527	151,721
Total current liabilities	268,541	211,219
Noncurrent liabilities:
Long-term debt	492,668	492,443
Deferred income taxes	1,268,943	1,275,428
Intercompany	164,173	186,784
Other	24,425	31,560
Total noncurrent liabilities	1,950,209	1,986,215
Shareholders' equity:
Common stock	100	100
Additional paid-in capital	46,856	45,824
Retained earnings	5,574,085	5,556,783
Accumulated other comprehensive income loss	(6,948)	3,856
Total shareholders' equity	5,614,093	5,606,563
Total liabilities and shareholders' equity	7,832,843	7,803,997
Non-Guarantor Subsidiaries | Reportable Legal Entities
Current assets:
Cash and cash equivalents	32,593	36,949	$ 25,545	$ 32,702
Accounts receivable, net of reserve	64,782	71,418
Inventories	40,353	40,531
Prepaid expenses and other	43,825	45,647
Current assets of discontinued operations	8,449	8,097
Total current assets	190,002	202,642
Property, plant and equipment, net	429,975	443,563
Intercompany	253,557	230,652
Other assets	36,248	38,901
Total assets	909,782	915,758
Current liabilities:
Accounts payable	5,646	7,097
Accrued liabilities	46,166	46,251
Current liabilities of discontinued operations	3,310	3,377
Total current liabilities	55,122	56,725
Noncurrent liabilities:
Deferred income taxes	36,728	33,546
Intercompany	520,021	516,169
Other	56,021	59,820
Noncurrent liabilities of discontinued operations	5,139	4,720
Total noncurrent liabilities	617,909	614,255
Shareholders' equity:
Additional paid-in capital	374	349
Retained earnings	236,377	244,429
Total shareholders' equity	236,751	244,778
Total liabilities and shareholders' equity	$ 909,782	$ 915,758

Guarantor and Non-Guarantor F58

Guarantor and Non-Guarantor Financial Information - Cash Flows (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS
Net cash provided by operating activities	$ 308,196	$ 393,309
INVESTING ACTIVITIES:
Capital expenditures	(114,470)	(369,981)
Purchase of short-term investments	(6,918)
Proceeds from sales of short-term investments	4,600
Proceeds from asset sales	6,058	7,160
Net cash used in investing activities	(110,730)	(362,821)
FINANCING ACTIVITIES:
Dividends paid	(74,560)	(74,822)
Repurchase of common stock		(59,654)
Debt issuance costs	(32)
Exercise of stock options, net of tax withholding	(59)	(2,062)
Tax withholdings related to net share settlements of restricted stock	(3,617)	(4,248)
Tax benefit (expense) from share-based compensation	(352)	2,723
Net cash used in financing activities	(78,620)	(138,063)
Net increase (decrease) in cash and cash equivalents	118,846	(107,575)
Cash and cash equivalents, beginning of period	729,384	360,307
Cash and cash equivalents, end of period	848,230	252,732
Guarantor/Parent | Reportable Legal Entities
CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS
Net cash provided by operating activities	4,381	8,699
INVESTING ACTIVITIES:
Capital expenditures	(9,085)	(3,491)
Intercompany transfers	9,085	3,491
FINANCING ACTIVITIES:
Dividends paid	(74,560)	(74,822)
Intercompany transfers	74,560	134,476
Repurchase of common stock		(59,654)
Exercise of stock options, net of tax withholding	(59)	(2,062)
Tax withholdings related to net share settlements of restricted stock	(3,617)	(4,248)
Tax benefit (expense) from share-based compensation	(572)	33
Net cash used in financing activities	(4,248)	(6,277)
Net increase (decrease) in cash and cash equivalents	133	2,422
Cash and cash equivalents, beginning of period	(838)	(2,050)
Cash and cash equivalents, end of period	(705)	372
Issuer Subsidiary | Reportable Legal Entities
CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS
Net cash provided by operating activities	307,138	367,674
INVESTING ACTIVITIES:
Capital expenditures	(103,510)	(341,499)
Intercompany transfers	(9,085)	(3,491)
Purchase of short-term investments	(6,918)
Proceeds from sales of short-term investments	4,600
Proceeds from asset sales	5,241	6,285
Net cash used in investing activities	(109,672)	(338,705)
FINANCING ACTIVITIES:
Intercompany transfers	(74,560)	(134,476)
Debt issuance costs	(32)
Tax benefit (expense) from share-based compensation	195	2,667
Net cash used in financing activities	(74,397)	(131,809)
Net increase (decrease) in cash and cash equivalents	123,069	(102,840)
Cash and cash equivalents, beginning of period	693,273	329,655
Cash and cash equivalents, end of period	816,342	226,815
Non-Guarantor Subsidiaries | Reportable Legal Entities
CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS
Net cash provided by operating activities	(3,323)	16,936
INVESTING ACTIVITIES:
Capital expenditures	(1,875)	(24,991)
Proceeds from asset sales	817	875
Net cash used in investing activities	(1,058)	(24,116)
FINANCING ACTIVITIES:
Tax benefit (expense) from share-based compensation	25	23
Net cash used in financing activities	25	23
Net increase (decrease) in cash and cash equivalents	(4,356)	(7,157)
Cash and cash equivalents, beginning of period	36,949	32,702
Cash and cash equivalents, end of period	$ 32,593	$ 25,545

Subsequent Events (Details)

Subsequent Events (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Subsequent Event
Early termination revenue		$ 28.9	$ 23.4
Subsequent Event.
Subsequent Event
Early termination revenue	$ 78