Atwood Oceanics (ATW) 10-Q 30 Jul 15 2015 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares shares in Thousands	9 Months Ended
	Jun. 30, 2015	Jul. 27, 2015
Document And Entity Information [Abstract]
Entity Registrant Name	ATWOOD OCEANICS INC
Entity Central Index Key	8,411
Current Fiscal Year End Date	--09-30
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Jun. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Common Stock, Shares Outstanding		64,653
Trading Symbol	atw

Unaudited Condensed Consolidate

Unaudited Condensed Consolidated Statements Of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
REVENUES:
Contract drilling	$ 317,531	$ 264,925	$ 992,913	$ 798,544
Revenues related to reimbursable expenses	13,031	27,852	39,762	52,036
Total revenues	330,562	292,777	1,032,675	850,580
COSTS AND EXPENSES:
Contract drilling	134,258	128,586	401,847	388,715
Reimbursable expenses	9,066	23,493	29,634	41,095
Depreciation	42,534	37,601	129,637	107,376
General and administrative	10,473	12,844	42,619	47,688
Asset impairment	0	0	60,777	0
(Gain) loss on sale of assets	27	7	15,362	(34,072)
Other, net	0	(212)	0	(1,815)
Total costs and expenses	196,358	202,319	679,876	548,987
OPERATING INCOME	134,204	90,458	352,799	301,593
OTHER INCOME (EXPENSE):
Interest expense, net of capitalized interest	(11,677)	(11,219)	(40,028)	(30,932)
Interest income	12	126	84	247
Other income (expense) total	(11,665)	(11,093)	(39,944)	(30,685)
INCOME BEFORE INCOME TAXES	122,539	79,365	312,855	270,908
PROVISION FOR INCOME TAXES	9,547	7,440	30,976	42,286
NET INCOME	$ 112,992	$ 71,925	$ 281,879	$ 228,622
EARNINGS PER COMMON SHARE (NOTE 2):
Basic (in dollars per share)	$ 1.75	$ 1.12	$ 4.37	$ 3.56
Diluted (in dollars per share)	$ 1.73	$ 1.11	$ 4.33	$ 3.52
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING (NOTE 2):
Basic (in shares)	64,649	64,309	64,557	64,204
Diluted (in shares)	65,130	65,060	65,063	65,023

Unaudited Condensed Consolidat3

Unaudited Condensed Consolidated Statement Of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Statement of Comprehensive Income [Abstract]
Net income	$ 112,992	$ 71,925	$ 281,879	$ 228,622
Derivative financial instruments:
Unrealized holding gains (losses)	(2,870)	96	87	(1,228)
Gains/(losses) reclassified to net income	(216)	363	(483)	1,284
Total other comprehensive income (loss)	(3,086)	459	(396)	56
Comprehensive income	$ 109,906	$ 72,384	$ 281,483	$ 228,678

Unaudited Condensed Consolidat4

Unaudited Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2015	Sep. 30, 2014
ASSETS
Cash	$ 74,504	$ 80,080
Accounts receivable	257,320	242,684
Income tax receivable	10,128	6,260
Inventories of materials and supplies	137,949	132,368
Prepaid expenses, deferred costs and other current assets	20,857	36,415
Total current assets	500,758	497,807
Property and equipment, net	4,188,794	3,967,028
Other receivables	11,831	11,831
Deferred income taxes	165	589
Deferred costs and other assets	22,697	29,973
Total assets	4,724,245	4,507,228
LIABILITIES AND SHAREHOLDERS' EQUITY
Accounts payable	85,650	94,315
Accrued liabilities	19,765	19,158
Dividends Payable	16,163	16,090
Short-term debt	0	11,885
Interest payable	18,261	8,099
Income tax payable	8,784	14,234
Deferred credits and other liabilities	4,333	3,596
Total current liabilities	152,956	167,377
LONG TERM LIABILITIES:
Long-term debt	1,716,247	1,742,122
Deferred income taxes	835	783
Deferred credits	3,320	4,100
Other	37,909	37,322
Total long-term liabilities	$ 1,758,311	$ 1,784,327
Commitments and contingencies (Note 8)
Shareholders’ equity:
Preferred stock, no par value, 1,000 shares authorized, none outstanding	$ 0	$ 0
Common stock, $1.00 par value, 180,000 shares authorized with 64,653 issued and outstanding at June 30, 2015 and 180,000 shares authorized and 64,362 shares issued and outstanding at September 30, 2014	64,653	64,362
Paid-in capital	209,541	201,464
Retained earnings	2,535,619	2,286,137
Accumulated other comprehensive income	3,165	3,561
Total shareholders' equity	2,812,978	2,555,524
Total liabilities and shareholders' equity	$ 4,724,245	$ 4,507,228

Unaudited Condensed Consolidat5

Unaudited Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2015	Sep. 30, 2014
Statement of Financial Position [Abstract]
Preferred stock, shares authorized	1,000,000	1,000,000
Preferred stock, shares outstanding	0	0
Common stock, par value (in dollars per share)	$ 1	$ 1
Common stock, shares authorized	180,000,000	180,000,000
Common stock, shares issued	64,653,000	64,362,000
Common stock, shares outstanding	64,653,000	64,362,000

Unaudited Condensed Consolidat6

Unaudited Condensed Consolidated Statement Of Changes In Shareholders' Equity - 9 months ended Jun. 30, 2015 - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Income
Beginning Balance (in shares) at Sep. 30, 2014		64,362
Beginning Balance at Sep. 30, 2014	$ 2,555,524	$ 64,362	$ 201,464	$ 2,286,137	$ 3,561
Increase (Decrease) in Stockholders' Equity
Net income	281,879			281,879
Other comprehensive income	(396)				(396)
Dividends	(32,397)			(32,397)
Restricted stock awards (in shares)		223
Vesting of restricted stock and performance unit awards	(1,965)	$ (223)	(2,188)
Exercise of employee stock options (in shares)		68
Exercise of employee stock options	1,056	$ 68	988
Stock compensation expense	9,277		9,277
Ending Balance (in shares) at Jun. 30, 2015		64,653
Ending Balance at Jun. 30, 2015	$ 2,812,978	$ 64,653	$ 209,541	$ 2,535,619	$ 3,165

Unaudited Condensed Consolidat7

Unaudited Condensed Consolidated Statements Of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Cash flows from operating activities:
Net income	$ 281,879	$ 228,622
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	129,637	107,376
Amortization	5,179	5,876
Provision for doubtful accounts and inventory obsolescence	3,337	1,905
Deferred income tax benefit	(3,453)	(649)
Share-based compensation expense	9,277	10,924
Asset impairment	60,777	0
(Gain) loss on sale of assets	15,362	(34,072)
Changes in assets and liabilities:
Accounts receivable	(17,917)	(5,069)
Income tax receivable	(3,868)	(1,425)
Inventories of materials and supplies	(16,917)	(8,816)
Prepaid expenses, deferred costs and other current assets	13,274	14,100
Deferred costs and other assets	(341)	(10,512)
Accounts payable	(17,511)	(11,303)
Accrued liabilities	24,049	15,118
Income tax payable	(5,450)	6,032
Deferred credits and other liabilities	6,291	21,141
Net cash provided by operating activities	483,605	339,248
Cash flows from investing activities:
Capital expenditures	(420,077)	(564,119)
Proceeds from sale of assets	2,339	61,516
Net cash used in investing activities	(417,738)	(502,603)
Cash flows from financing activities:
Borrowings from credit facilities	225,000	370,000
Repayments on credit facilities	(250,000)	(165,000)
Repayments on short-term debt, net	(11,885)	(8,071)
Dividends paid	(32,397)	0
Proceeds from exercise of stock options	1,279	3,468
Debt issuance costs paid	(3,440)	(6,650)
Net cash (used) provided by financing activities	(71,443)	193,747
Net increase (decrease) in cash and cash equivalents	(5,576)	30,392
Cash and cash equivalents, at beginning of period	80,080	88,770
Cash and cash equivalents, at end of period	74,504	119,162
Non-cash activities:
Decrease in accounts payable and accrued liabilities related to capital expenditures	$ (15,501)	$ (13,573)

Unaudited Interim Information

Unaudited Interim Information	9 Months Ended
	Jun. 30, 2015
Quarterly Financial Information Disclosure [Abstract]
Unaudited Interim Information	UNAUDITED INTERIM INFORMATION The accompanying unaudited condensed consolidated financial statements of Atwood Oceanics, Inc. and its subsidiaries as of June 30, 2015 and for the three and nine months ended June 30, 2015 and 2014 , have been prepared in accordance with accounting principles generally accepted in the U.S. for interim financial information. Unless otherwise indicated, references to “we”, “us”, “our” and the “Company” refer collectively to Atwood Oceanics, Inc. and subsidiaries. The year-end condensed consolidated balance sheet data was derived from the audited financial statements as of September 30, 2014 . Although these financial statements and related information have been prepared without audit and certain information and note disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted, we believe that the note disclosures are adequate to make the information not misleading. The interim financial results may not be indicative of results that could be expected for a full fiscal year. These unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and the related notes included in our Annual Report on Form 10-K for the year ended September 30, 2014 . In our opinion, the unaudited interim financial statements reflect all adjustments considered necessary for a fair statement of our financial position, results of operations and cash flows for the periods presented. Certain prior period amounts have been reclassified to conform to current year presentation. Recently issued accounting pronouncements In April 2014, the Financial Accounting Standards Board (“FASB”) issued new guidance intended to change the criteria for reporting discontinued operations while enhancing disclosures for discontinued operations, which changes the criteria and requires additional disclosures for reporting discontinued operations. The guidance is effective for all disposals of components of an entity that occur within annual periods beginning on or after December 15, 2014, and interim periods within annual periods beginning on or after December 15, 2015. We do not expect that our adoption of this guidance will have a material impact on our financial statements or disclosures in our financial statements. In May 2014, the FASB issued new guidance intended to change the criteria for recognition of revenue. The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The guidance is effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period. We are currently evaluating what impact the adoption of this guidance will have on our financial statements or disclosures in our financial statements. In June 2014, the FASB issued amended guidance on the accounting for certain share-based employee compensation awards. The amended guidance applies to share-based employee compensation awards that include a performance target that affects vesting when the performance target can be achieved after the requisite service period. These targets are to be treated as a performance condition. As such, the performance target should not be reflected in estimating the grant-date fair value of the award and compensation cost should be recognized in the period in which it becomes probable that the performance target will be achieved. The amendments are effective for annual periods and interim periods within those annual periods beginning after December 15, 2015. We do not expect that our adoption of this guidance will have a material impact on our financial statements or disclosures in our financial statements. In April 2015, the FASB issued new guidance intended to simplify the presentation of debt issuance costs. This new guidance requires that debt issuance costs related to outstanding debt be netted against that liability in the balance sheet, consistent with the treatment of debt discounts. This guidance is effective for fiscal years and interim periods beginning after December 15, 2015 and early adoption is permitted. We are currently evaluating what impact the adoption of this guidance will have on our financial statements or disclosures in our financial statements.

Earnings Per Common Share

Earnings Per Common Share	9 Months Ended
	Jun. 30, 2015
Earnings Per Share [Abstract]
Earnings Per Common Share	EARNINGS PER COMMON SHARE The computation of basic and diluted earnings per share for the three and nine months ended June 30, 2015 and 2014 is as follows: Three Months Ended Nine Months Ended (In thousands, except per share amounts) Net Income Shares Per Share Amount Net Income Shares Per Share Amount June 30, 2015 Basic earnings per share $ 112,992 64,649 $ 1.75 $ 281,879 64,557 $ 4.37 Effect of dilutive securities: Stock options — 61 — — 74 — Restricted stock and performance units — 420 (0.02 ) — 432 (0.04 ) Diluted earnings per share $ 112,992 65,130 $ 1.73 $ 281,879 65,063 $ 4.33 June 30, 2014 Basic earnings per share $ 71,925 64,309 1.12 228,622 64,204 $ 3.56 Effect of dilutive securities: Stock options — 216 — — 250 (0.01 ) Restricted stock and performance units — 535 (0.01 ) — 569 (0.02 ) Diluted earnings per share $ 71,925 65,060 $ 1.11 $ 228,622 65,023 $ 3.52 For the purpose of calculating diluted earnings per share for the three and nine months ended June 30, 2015 , there were approximately 873,000 and 867,000 anti-dilutive securities, respectively and for the three and nine months ended June 30, 2014 , there were no anti-dilutive securities.

Property And Equipment

Property And Equipment	9 Months Ended
	Jun. 30, 2015
Property, Plant and Equipment [Abstract]
Property and Equipment	PROPERTY AND EQUIPMENT A summary of property and equipment by classification is as follows: (In thousands) June 30, September 30, Drilling vessels and equipment $ 4,032,126 $ 4,181,774 Construction work in progress 684,522 319,548 Drill pipe 42,734 31,265 Office equipment and other 36,378 35,566 Total cost 4,795,760 4,568,153 Less: Accumulated depreciation (606,966 ) (601,125 ) Property and equipment, net $ 4,188,794 $ 3,967,028 Asset Impairment The Atwood Hunter completed the contract it was working under in December 2014. Based on the lack of contracting opportunities and the further deterioration of commodity prices, in January 2015 we determined that it was not likely that additional work would be obtained in the foreseeable future. Therefore we made the decision to scrap the rig and the Atwood Hunter and its materials and supplies were written down to their salvage value. We recorded a non-cash impairment charge of approximately $60.8 million ( $56.1 million , net of tax, or $0.86 per diluted share), which is included in Asset Impairment on the Condensed Consolidated Statement of Operations for the nine months ended June 30, 2015 . This impairment charge includes write-downs of property and equipment of $48.0 million and write-downs of our inventory of materials and supplies that was specific to the Atwood Hunter of $8.4 million . Sale of Assets During February 2015, we entered into an agreement for the sale and recycling of the Atwood Hunter for a sale price of approximately $2.9 million . Upon the agreement becoming effective, we received $1.8 million as a deposit. We anticipate the closing to occur in the quarter ending September 30, 2015. We recorded a loss of approximately $5.5 million ( $5.5 million , net of tax, or $0.08 per diluted share), which is included in (Gain) Loss on Sale of Assets on the Condensed Consolidated Statement of Operations for the nine months ended June 30, 2015 . During December 2014, we completed the sale of our rig, the Atwood Southern Cross , for recycling. We received $2.1 million in proceeds and incurred related costs of $2.0 million . We recorded a loss of approximately $8.0 million ( $7.1 million , net of tax, or $0.11 per diluted share), which is included in (Gain) Loss on Sale of Assets on the Condensed Consolidated Statement of Operations for the nine months ended June 30, 2015 . Construction Projects As of June 30, 2015 , we had expended approximately $657 million towards our two ultra-deepwater drillships under construction at the Daewoo Shipbuilding and Marine Engineering Co., Ltd. ("DSME") yard in South Korea. Remaining firm commitments for these two drillships under construction totaled approximately $504 million at June 30, 2015 . On October 31, 2014, we entered into Supplemental Agreements (collectively, "Supplemental Agreement No. 1") to the construction contracts for our two ultra-deepwater drillships which postponed their delivery by six months each. The Atwood Admiral was rescheduled for delivery on September 30, 2015 and the Atwood Archer was rescheduled for delivery on June 30, 2016. In consideration of the agreement by DSME to postpone deliveries, we agreed to accelerate the payment of a portion of the milestone payments on each rig as follows: $50 million on each rig was paid on November 30, 2014 and $25 million on each rig was paid on June 30, 2015. In addition, each rig’s final milestone payment amount will be increased by the aggregate financing cost on these payments using an interest rate of 3.5% per annum. On February 6, 2015, we entered into additional Supplemental Agreements (collectively, “Supplemental Agreement No. 2”), which amended Supplemental Agreement No. 1 and gave us the option to postpone the delivery of each of these two drillships by two further periods of six months each (for a total potential extension of 12 months). In consideration, we agreed to accelerate the payment of a portion of the remaining milestone payments on both drillships whenever an option to further postpone delivery is exercised as follows: for the Atwood Admiral , $152 million (including the aggregate financing cost accrued to date from Supplemental Agreement No. 1) on the completion of the drillship, which is currently projected to be on or around September 30, 2015 and $146 million payable upon delivery of the drillship, which is currently projected to be on or around on March 31, 2016; for the Atwood Archer , $153 million (including the aggregate financing costs accrued to date from Supplemental Agreement No. 1) on the completion of the drillship, which is currently projected to be on or around June 30, 2016, and $205 million payable upon delivery of the drillship, which is currently projected to be on or around December 31, 2016. On March 30, 2015, we exercised our first six-month option ("Option No. 1") to delay the delivery of the Atwood Admiral to March 31, 2016. If we elect to exercise the first six month option for on the Atwood Archer, and/or the second six-month option on either of the two rigs (“Option No. 2”), milestone payments will also be further accelerated. Additionally, any of the extensions of the delivery dates will cause us to incur additional operating costs. On May 18, 2015, we entered into additional Supplemental Agreements (collectively, "Supplemental Agreement No. 3"), which create an option for us to revise the milestone payment due dates for both the Atwood Admiral and Atwood Archer . The upcoming installment payments of $150 million for both rigs, which were initially due on September 30, 2015 for the Atwood Admiral per its Supplemental Agreement No. 2, and June 30, 2016 for the Atwood Archer, may be accelerated at our sole option. We entered into Supplemental Agreement No. 3 in consideration of keeping vessels dockside, which lowers our future operating costs. We exercised the option under Supplemental Agreement No. 3 for the Atwood Admiral, and paid the $150 million installment on May 31, 2015. The option for the Atwood Archer must be exercised by December 31, 2015. The expected delivery dates of the Atwood Admiral and Atwood Archer are as follows: Atwood Admiral Atwood Archer Expected Delivery Status Expected Delivery Status Prior to supplemental agreements 3/31/2015 12/31/2015 Supplemental Agreement No. 1: 9/30/2015 Exercised 6/30/2016 Exercised Supplemental Agreement No. 2: Option No. 1 3/31/2016 Exercised 12/31/2016 Unexercised Option No. 2 9/30/2016 Unexercised 6/30/2017 Unexercised As of June 30, 2015 , expected payments for the Atwood Admiral and Atwood Archer are as follows: (In millions) Date Atwood Admiral Atwood Archer Final payment 3/31/2016 $ 146 Final payment 6/30/2016 $ 358 Total $ 146 $ 358

Debt

Debt	9 Months Ended
	Jun. 30, 2015
Debt Disclosure [Abstract]
Debt	DEBT A summary of long-term debt is as follows: (In thousands) June 30, September 30, 6.5% Senior Notes due 2020 ("Senior Notes") $ 656,247 $ 657,122 Revolving Credit Facility 1,060,000 1,085,000 Total long-term debt $ 1,716,247 $ 1,742,122 Senior Notes As of June 30, 2015 , our Senior Notes had an aggregate principal amount of $650 million . Ou r Senior Notes are unsecured obligations and are not guaranteed by any of our subsidiaries. We received a premium of $8.5 million as part of the net proceeds for the Senior Notes issued. This premium is being amortized over the life of our Senior Notes. Revolving Credit Facility On March 5, 2015, we entered into an amendment to our senior secured credit facility (the "Credit Facility"), which, among other things, (i) extended the maturity with respect to $1.245 billion of the total $1.55 billion of commitments under the Credit Facility to May 2019 and (ii) amended the maximum leverage ratio upwards to 4.50 :1.00 through December 31, 2017, after which period the maximum leverage ratio will revert back to 4.00 :1.00 through maturity. Lenders holding commitments of approximately $305 million did not agree to the extension and those commitments mature in May 2018. As of June 30, 2015 , we had $1.06 billion of outstanding borrowings and $6.3 million of letters of credit issued under the Credit Facility. As of June 30, 2015 , we had approximately $484 million available for borrowings under the Credit Facility. Borrowings under the Credit Facility bear interest at the Eurodollar rate plus a margin ranging from 1.75% to 2.00% and the commitment fee on the unused portion of the underlying commitment ranges from 0.30% to 0.40% per annum, in each case based on our corporate credit ratings. Obligations under the Credit Facility are secured primarily by first preferred mortgages on nine of our drilling units as well as liens on the equity interests of our subsidiaries that own, directly or indirectly, such drilling units. Our Credit Facility contains various financial covenants. At June 30, 2015 , we were in compliance with those covenants. The weighted-average effective interest rate on our revolving Credit Facility was approximately 2.0% per annum at June 30, 2015 . The effective rate was determined after giving consideration to the effect of our interest rate swaps accounted for as hedges and the amortization of premiums or discount. Interest capitalized for the three and nine months ended June 30, 2015 was approximately $6 million and $15 million , respectively. Interest capitalized for the three and nine months ended June 30, 2014 was approximately $7 million and $23 million , respectively.

Fair Value

Fair Value	9 Months Ended
	Jun. 30, 2015
Fair Value Disclosures [Abstract]
Fair Value	FAIR VALUE OF FINANCIAL INSTRUMENTS We have certain assets and liabilities that are required to be measured and disclosed at fair value. Fair value is defined as the exchange price that would be received for 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 on the measurement date. The fair value hierarchy prioritizes inputs to valuation techniques used to measure fair value into three levels. Priority is given to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). Assets and liabilities measured at fair value are classified based on the lowest level of input that is significant to the fair value measurement. Our assessment of the significance of a particular input to the fair value measurement requires judgment, which may affect the valuation of the fair value of assets and liabilities and their placement within the fair value hierarchy levels. The determination of the fair values, stated below, takes into account the market for our financial assets and liabilities, the associated credit risk and other considerations. We have classified and disclosed fair value measurements using the following levels of the fair value hierarchy: Level 1 : Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities. Level 2 : Quoted prices in markets that are not active, or inputs which are observable, either directly or indirectly, for substantially the full term of the asset or liability. Level 3 : Measurement based on prices or valuation models that require inputs that are both significant to the fair value measurement and less observable for objective sources (i.e., supported by little or no market activity). Fair value of Certain Assets and Liabilities The fair value of cash, accounts receivable and accounts payable approximate fair value because of their short term maturities. Fair Value of Financial Instruments Independent third party services are used to determine the fair value of our financial instruments using quoted market prices and observable inputs. When independent third party services are used, we obtain an understanding of how the fair values are derived and selectively corroborate fair values by reviewing other readily available market based sources of information. Senior Notes – The carrying value of our Senior Notes, net of unamortized premium is $656 million ( $650 million principal amount) while the fair value of our Senior Notes was $627 million at June 30, 2015 . The fair value is determined by a market approach using quoted period-end bond prices. We have classified this as a Level 2 fair value measurement as valuation inputs for fair value measurements are quoted market prices at June 30, 2015 that can only be obtained from independent third party sources. The fair value amount has been calculated using these quoted prices. However, no assurance can be given that the fair value would be the amount realized in an active market exchange. Credit Facility - Our Credit Facility is variable-rate and the carrying value of our variable-rate debt approximates fair value because such debt bears short-term, market-based interest rates. We have classified the fair value measurement of this instrument as Level 2 as valuation inputs for purposes of determining our fair value disclosure are readily available published Eurodollar rates. Derivative financial instruments - Our derivative financial instruments consist of our interest rate swap contracts and our foreign currency forward exchange contracts. We record our derivative contracts at fair value on our consolidated balance sheets. The fair values of our interest rate swaps and our foreign currency forward exchange contracts are based upon valuations calculated by an independent third party. The derivatives were valued according to the "market approach" where possible, and the "income approach" otherwise. A third party independently valued each instrument using forward price data obtained from reputable data providers (e.g., Bloomberg and Reuters) and reviewed market activity and similarity of pricing terms to determine appropriate reliability level assertions for each instrument. The contribution of the credit valuation adjustment to total fair value is less than 1% for all derivatives and is therefore not significant. Based on valuation inputs for fair value measurement and independent review performed by third party consultants, we have classified our derivative contracts as Level 2 as they were valued based upon observable inputs from dealer markets. The following table sets forth the estimated fair value of our derivative financial instruments at June 30, 2015 and September 30, 2014 , which are measured and recorded at fair value on a recurring basis: June 30, September 30, (In thousands) Balance Sheet Classification 2015 2014 Derivative assets designated as hedges: Short-term foreign currency forwards Prepaid expenses, deferred costs and other current assets $ 5,987 $ 3,930 Long-term foreign currency forwards Deferred costs and other assets — 1,125 Long-term interest rate swaps Deferred costs and other assets 388 275 Derivative liabilities designated as hedges: Short-term interest rate swaps Accrued liabilities (944 ) (838 ) Total derivative contracts, net $ 5,431 $ 4,492

Share-Based Compensation

Share-Based Compensation	9 Months Ended
	Jun. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share-Based Compensation	SHARE-BASED COMPENSATION A summary of our share-based compensation expense during the nine months ended June 30, 2015 and 2014 is as follows: Nine Months Ended June 30, (In thousands, except average service periods) 2015 2014 Share-based compensation recognized $ 9,277 $ 10,924 Unrecognized compensation cost, net of estimated forfeitures 19,416 20,423 Remaining weighted-average service period (years) 2.1 1.9 Restricted Stock Units A summary of our restricted stock activity for the nine months ended June 30, 2015 is as follows: Number of Shares (000s) Weighted Average Fair Value Unvested at October 1, 2014 622 $ 47.62 Granted 393 36.20 Vested (199 ) 41.98 Forfeited (101 ) 45.85 Unvested at June 30, 2015 715 43.16 Performance Units During the nine months ended June 30, 2015 , we granted to certain employees share-based awards that are subject to market-based performance conditions ("performance units"). The grant date fair value of these performance units was determined through use of the Monte Carlo simulation method. A summary of performance unit stock activity for the nine months ended June 30, 2015 is as follows: Number of Shares (000s) Weighted Average Fair Value Unvested at October 1, 2014 264 $ 45.87 Granted 133 37.08 Vested (98 ) 40.28 Forfeited (59 ) 44.08 Unvested at June 30, 2015 240 43.73 Stock Options A summary of stock option activity for the nine months ended June 30, 2015 is as follows: Number of Weighted Weighted Aggregate Outstanding at October 1, 2014 833 $ 33.52 Granted — — Exercised (68 ) 15.57 $ 1,227 Forfeited (17 ) 40.57 Expired (8 ) 12.31 Outstanding at June 30, 2015 740 35.23 4.6 1,158 Exercisable at June 30, 2015 691 34.78 4.5 1,158

Income Taxes

Income Taxes	9 Months Ended
	Jun. 30, 2015
Income Tax Disclosure [Abstract]
Income Taxes	NCOME TAXES Our consolidated effective income tax rate for the three and nine months ended June 30, 2015 was approximately 8% and 10% , respectively, as compared to 9% and 16% for the three and nine months ended June 30, 2014 . The effective tax rate for the three and nine months ended June 30, 2015 was lower than the rate for the three and nine months ended June 30, 2014 primarily due to a change in the geographical mix of income as well as the recognition of a discrete event and related tax expense for the nine months ended June 30, 2014 . Our effective tax rate was lower than the U.S. statutory rate of 35% as a result of working in certain lower tax jurisdictions outside the United States. We record estimated accrued interest and penalties related to uncertain tax positions as income tax expense. At June 30, 2015 , we had approximately $15.2 million of reserves for uncertain tax positions, including estimated accrued interest and penalties of $3.5 million , which are included in Other long-term liabilities in the Consolidated Balance Sheet. None of our reserves for uncertain tax positions relate to timing differences. All $15.2 million of the net uncertain tax liabilities would affect the effective tax rate if realized.

Commitments And Contingencies

Commitments And Contingencies	9 Months Ended
	Jun. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments And Contingencies	COMMITMENTS AND CONTINGENCIES Litigation We are party to a number of lawsuits which are ordinary, routine litigation incidental to our business, the outcome of which is not expected to have, either individually or in the aggregate, a material adverse effect on our financial position, results of operations or cash flows. Other Matters The Atwood Beacon operated in India from early December 2006 to the end of July 2009. A service tax was enacted in India in 2004 on revenues derived from seismic and exploration activities. This service tax law was subsequently amended in June 2007 and again in May 2008 to state that revenues derived from mining services and drilling services were specifically subject to this service tax. The contract terms with our customer in India provided that any liability incurred by us related to any taxes pursuant to laws not in effect at the time the contract was executed in 2005 was to be reimbursed by our customer. We believe any service taxes assessed by the Indian tax authorities under the 2007 or 2008 amendments are an obligation of our customer. Our customer is disputing this obligation on the basis of its contention that revenues derived from drilling services were taxable under the initial 2004 law, and are, therefore, our obligation. After reviewing the status of the drilling services we provided to our customer, the Indian tax authorities assessed service tax obligations on revenues derived from the Atwood Beacon commencing on June 1, 2007. The relevant Indian tax authority issued an extensive written ruling setting forth the application of the June 1, 2007 service tax regulation and confirming the position that drilling services, including the services performed under our contract with our customer prior to June 1, 2007, were not covered by the 2004 service tax law. In August 2012, the Indian Custom Excise and Service Tax Appellate Tribunal issued an Order in our favor confirming our position that service tax did not apply to drilling services performed prior to June 1, 2007. The Indian Service Tax Authority has appealed this ruling to the Indian Supreme Court. As of June 30, 2015 , we had paid to the Indian government $10.5 million in service taxes and have accrued $1.3 million of additional service tax obligations in accrued liabilities on our consolidated balance sheets, for a total of $11.8 million relating to service taxes. We recorded a corresponding $11.8 million long-term other receivable due from our customer relating to service taxes due under the contract. We continue to pursue collection of such amounts from our customer and expect to collect the amount recorded as a receivable.

Subsequent Events (Notes)

Subsequent Events (Notes)	9 Months Ended
	Jun. 30, 2015
Subsequent Events [Abstract]
Subsequent Events [Text Block]	NOTE 9—SUBSEQUENT EVENTS Credit Facility Amendment On July 29, 2015, we entered into a third amendment to the Credit Facility providing that, among other things, effective upon our obtaining a specified amount of additional unsecured capital through one or more qualifying capital raises and a subsequent permanent reduction in the commitments under the Credit Facility in an amount equal to at least 70% of the net proceeds from such capital raises, (i) the maximum leverage ratio will be replaced with a senior secured leverage ratio of 3.0 to 1.0 and (ii) the minimum interest expense coverage ratio will be reduced from 3.0 to 1.0 to 1.75 to 1.00. Letter of Credit Facility On July 29, 2015, our subsidiary, Atwood Offshore Worldwide Limited (“AOWL”), entered into a letter of credit facility with BNP Paribas (“BNP”), pursuant to which BNP may, in its sole and absolute discretion, issue letters of credit from time to time at the request of AOWL, for the account of AOWL and its subsidiaries, up to an unlimited stated face amount of such letters of credit. Certain fees will be payable upon the issuance of each letter of credit under the letter of credit facility, with the amount of such fees depending on whether such letters of credit are performance letters of credit or financial letters of credit. BNP has no commitment under the facility to issue letters of credit, and the facility, as well as BNP’s willingness to receive requests from AOWL with respect to the issuance of letters of credit may be cancelled by BNP at any time. The facility contains certain events of default, including but not limited to delinquent payments, bankruptcy filings, material adverse judgments, cross-defaults under other debt agreements, or a change of control.

Unaudited Interim Information (

Unaudited Interim Information (Policies)	9 Months Ended
	Jun. 30, 2015
Quarterly Financial Information Disclosure [Abstract]
Recently Issued Accounting Pronouncements	In April 2014, the Financial Accounting Standards Board (“FASB”) issued new guidance intended to change the criteria for reporting discontinued operations while enhancing disclosures for discontinued operations, which changes the criteria and requires additional disclosures for reporting discontinued operations. The guidance is effective for all disposals of components of an entity that occur within annual periods beginning on or after December 15, 2014, and interim periods within annual periods beginning on or after December 15, 2015. We do not expect that our adoption of this guidance will have a material impact on our financial statements or disclosures in our financial statements. In May 2014, the FASB issued new guidance intended to change the criteria for recognition of revenue. The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The guidance is effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period. We are currently evaluating what impact the adoption of this guidance will have on our financial statements or disclosures in our financial statements. In June 2014, the FASB issued amended guidance on the accounting for certain share-based employee compensation awards. The amended guidance applies to share-based employee compensation awards that include a performance target that affects vesting when the performance target can be achieved after the requisite service period. These targets are to be treated as a performance condition. As such, the performance target should not be reflected in estimating the grant-date fair value of the award and compensation cost should be recognized in the period in which it becomes probable that the performance target will be achieved. The amendments are effective for annual periods and interim periods within those annual periods beginning after December 15, 2015. We do not expect that our adoption of this guidance will have a material impact on our financial statements or disclosures in our financial statements. In April 2015, the FASB issued new guidance intended to simplify the presentation of debt issuance costs. This new guidance requires that debt issuance costs related to outstanding debt be netted against that liability in the balance sheet, consistent with the treatment of debt discounts. This guidance is effective for fiscal years and interim periods beginning after December 15, 2015 and early adoption is permitted. We are currently evaluating what impact the adoption of this guidance will have on our financial statements or disclosures in our financial statements.
Fair Value Measurement	We have certain assets and liabilities that are required to be measured and disclosed at fair value. Fair value is defined as the exchange price that would be received for 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 on the measurement date. The fair value hierarchy prioritizes inputs to valuation techniques used to measure fair value into three levels. Priority is given to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). Assets and liabilities measured at fair value are classified based on the lowest level of input that is significant to the fair value measurement. Our assessment of the significance of a particular input to the fair value measurement requires judgment, which may affect the valuation of the fair value of assets and liabilities and their placement within the fair value hierarchy levels. The determination of the fair values, stated below, takes into account the market for our financial assets and liabilities, the associated credit risk and other considerations. We have classified and disclosed fair value measurements using the following levels of the fair value hierarchy: Level 1 : Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities. Level 2 : Quoted prices in markets that are not active, or inputs which are observable, either directly or indirectly, for substantially the full term of the asset or liability. Level 3 : Measurement based on prices or valuation models that require inputs that are both significant to the fair value measurement and less observable for objective sources (i.e., supported by little or no market activity).
Income Taxes	We record estimated accrued interest and penalties related to uncertain tax positions as income tax expense.

Earnings Per Common Share (Tabl

Earnings Per Common Share (Tables)	9 Months Ended
	Jun. 30, 2015
Earnings Per Share [Abstract]
Computation of Basic and Diluted Earnings Per Share	The computation of basic and diluted earnings per share for the three and nine months ended June 30, 2015 and 2014 is as follows: Three Months Ended Nine Months Ended (In thousands, except per share amounts) Net Income Shares Per Share Amount Net Income Shares Per Share Amount June 30, 2015 Basic earnings per share $ 112,992 64,649 $ 1.75 $ 281,879 64,557 $ 4.37 Effect of dilutive securities: Stock options — 61 — — 74 — Restricted stock and performance units — 420 (0.02 ) — 432 (0.04 ) Diluted earnings per share $ 112,992 65,130 $ 1.73 $ 281,879 65,063 $ 4.33 June 30, 2014 Basic earnings per share $ 71,925 64,309 1.12 228,622 64,204 $ 3.56 Effect of dilutive securities: Stock options — 216 — — 250 (0.01 ) Restricted stock and performance units — 535 (0.01 ) — 569 (0.02 ) Diluted earnings per share $ 71,925 65,060 $ 1.11 $ 228,622 65,023 $ 3.52

Property and Equipment (Tables)

Property and Equipment (Tables)	9 Months Ended
	Jun. 30, 2015
Property, Plant and Equipment [Abstract]
Summary of Property and Equipment by Classification	A summary of property and equipment by classification is as follows: (In thousands) June 30, September 30, Drilling vessels and equipment $ 4,032,126 $ 4,181,774 Construction work in progress 684,522 319,548 Drill pipe 42,734 31,265 Office equipment and other 36,378 35,566 Total cost 4,795,760 4,568,153 Less: Accumulated depreciation (606,966 ) (601,125 ) Property and equipment, net $ 4,188,794 $ 3,967,028
Schedule of Expected Delivery Dates and Status	The expected delivery dates of the Atwood Admiral and Atwood Archer are as follows: Atwood Admiral Atwood Archer Expected Delivery Status Expected Delivery Status Prior to supplemental agreements 3/31/2015 12/31/2015 Supplemental Agreement No. 1: 9/30/2015 Exercised 6/30/2016 Exercised Supplemental Agreement No. 2: Option No. 1 3/31/2016 Exercised 12/31/2016 Unexercised Option No. 2 9/30/2016 Unexercised 6/30/2017 Unexercised
Long-term Purchase Commitment	s for the Atwood Admiral and Atwood Archer are as follows: (In millions) Date Atwood Admiral Atwood Archer Final payment 3/31/2016 $ 146 Final payment 6/30/2016 $ 358 Total $ 146 $ 358

Long-Term Debt (Tables)

Long-Term Debt (Tables)	9 Months Ended
	Jun. 30, 2015
Debt Disclosure [Abstract]
Summary of Long-Term Debt	A summary of long-term debt is as follows: (In thousands) June 30, September 30, 6.5% Senior Notes due 2020 ("Senior Notes") $ 656,247 $ 657,122 Revolving Credit Facility 1,060,000 1,085,000 Total long-term debt $ 1,716,247 $ 1,742,122

Fair Value (Tables)

Fair Value (Tables)	9 Months Ended
	Jun. 30, 2015
Fair Value Disclosures [Abstract]
Estimated Fair Value Of Financial Instruments	The following table sets forth the estimated fair value of our derivative financial instruments at June 30, 2015 and September 30, 2014 , which are measured and recorded at fair value on a recurring basis: June 30, September 30, (In thousands) Balance Sheet Classification 2015 2014 Derivative assets designated as hedges: Short-term foreign currency forwards Prepaid expenses, deferred costs and other current assets $ 5,987 $ 3,930 Long-term foreign currency forwards Deferred costs and other assets — 1,125 Long-term interest rate swaps Deferred costs and other assets 388 275 Derivative liabilities designated as hedges: Short-term interest rate swaps Accrued liabilities (944 ) (838 ) Total derivative contracts, net $ 5,431 $ 4,492

Share-Based Compensation (Table

Share-Based Compensation (Tables)	9 Months Ended
	Jun. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Summary of Share-based Compensation Arrangements	A summary of our share-based compensation expense during the nine months ended June 30, 2015 and 2014 is as follows: Nine Months Ended June 30, (In thousands, except average service periods) 2015 2014 Share-based compensation recognized $ 9,277 $ 10,924 Unrecognized compensation cost, net of estimated forfeitures 19,416 20,423 Remaining weighted-average service period (years) 2.1 1.9
Schedule of Restricted Stock Activity	A summary of our restricted stock activity for the nine months ended June 30, 2015 is as follows: Number of Shares (000s) Weighted Average Fair Value Unvested at October 1, 2014 622 $ 47.62 Granted 393 36.20 Vested (199 ) 41.98 Forfeited (101 ) 45.85 Unvested at June 30, 2015 715 43.16
Schedule of Performance-based Units Activity	During the nine months ended June 30, 2015 , we granted to certain employees share-based awards that are subject to market-based performance conditions ("performance units"). The grant date fair value of these performance units was determined through use of the Monte Carlo simulation method. A summary of performance unit stock activity for the nine months ended June 30, 2015 is as follows: Number of Shares (000s) Weighted Average Fair Value Unvested at October 1, 2014 264 $ 45.87 Granted 133 37.08 Vested (98 ) 40.28 Forfeited (59 ) 44.08 Unvested at June 30, 2015 240 43.73
Summary of Stock Option Activity	A summary of stock option activity for the nine months ended June 30, 2015 is as follows: Number of Weighted Weighted Aggregate Outstanding at October 1, 2014 833 $ 33.52 Granted — — Exercised (68 ) 15.57 $ 1,227 Forfeited (17 ) 40.57 Expired (8 ) 12.31 Outstanding at June 30, 2015 740 35.23 4.6 1,158 Exercisable at June 30, 2015 691 34.78 4.5 1,158

Earnings Per Common Share - Nar

Earnings Per Common Share - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Net Income
Basic earnings per share	$ 112,992	$ 71,925	$ 281,879	$ 228,622
Stock options	0	0	0	0
Restricted stock and performance units	0	0	0	0
Diluted earnings per share	$ 112,992	$ 71,925	$ 281,879	$ 228,622
Shares
Basic earnings per share (in shares)	64,649,000	64,309,000	64,557,000	64,204,000
Stock options (in shares)	61,000	216,000	74,000	250,000
Restricted stock (in shares)	420,000	535,000	432,000	569,000
Diluted earnings per share (in shares)	65,130,000	65,060,000	65,063,000	65,023,000
Per Share Amount
Basic earnings per share (in dollars per share)	$ 1.75	$ 1.12	$ 4.37	$ 3.56
Stock options (in dollars per share)	0	0	0	(0.01)
Restricted stock (in dollars per share)	(0.02)	(0.01)	(0.04)	(0.02)
Diluted earnings per share (in dollars per share)	$ 1.73	$ 1.11	$ 4.33	$ 3.52
Stock Options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Outstanding stock options, excluded in the calculation of earnings per share	873,000	0	867,000	0

Property and Equipment - Summar

Property and Equipment - Summary of Property and Equipment by Classification (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Sep. 30, 2014
Property, Plant and Equipment
Total cost	$ 4,795,760	$ 4,568,153
Less: Accumulated depreciation	(606,966)	(601,125)
Property and equipment, net	4,188,794	3,967,028
Drilling vessels and equipment
Property, Plant and Equipment
Total cost	4,032,126	4,181,774
Construction work in progress
Property, Plant and Equipment
Total cost	684,522	319,548
Drill pipe
Property, Plant and Equipment
Total cost	42,734	31,265
Office equipment and other
Property, Plant and Equipment
Total cost	$ 36,378	$ 35,566

Property and Equipment - Narrat

Property and Equipment - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Property, Plant and Equipment
Asset impairment	$ 0	$ 0	$ 60,777	$ 0
Proceeds from sale of assets			2,339	61,516
Other, net	0	(212)	0	(1,815)
(Gain) loss on sale of assets	27	$ 7	15,362	$ (34,072)
Atwood Hunter
Property, Plant and Equipment
Asset impairment			60,800
Impairment, Net of Tax			$ 56,100
Impairment Effect on Earnings Per Share, after Tax			$ 0.86
Equipment | Atwood Hunter
Property, Plant and Equipment
Asset impairment			$ 48,000
Inventory | Atwood Hunter
Property, Plant and Equipment
Asset impairment			8,400
Atwood Hunter
Property, Plant and Equipment
Proceeds from sale of assets			2,900
Deposit from Sale of Atwood Hunter	1,800		1,800
(Gain) loss on sale of assets			5,500
Impairment, Net of Tax			$ 5,500
Impairment Effect on Earnings Per Share, after Tax			$ 0.08
Atwood Southern Cross
Property, Plant and Equipment
Proceeds from sale of assets			$ 2,100
Other, net			(2,000)
(Gain) loss on sale of assets			8,000
Impairment, Net of Tax			$ 7,100
Impairment Effect on Earnings Per Share, after Tax			$ 0.11
Construction in Progress, Newbuild Drilling Units
Property, Plant and Equipment
Expenditure towards construction of drilling units currently under construction	$ 657,000		$ 657,000
Construction in Progress, Newbuild Drilling Units | Capital Addition Purchase Commitments
Property, Plant and Equipment
Commitments on drilling units under construction			$ 504,000
Interest Rate Per Annum to be Added with the Milestone Payment	3.50%		3.50%
Atwood Admiral | Capital Addition Purchase Commitments
Property, Plant and Equipment
Commitments on drilling units under construction			$ 146,000
Atwood Admiral | Milestone Payment No 1 | Capital Addition Purchase Commitments
Property, Plant and Equipment
Commitments on drilling units under construction			50,000
Atwood Admiral | Milestone Payment No 2 | Capital Addition Purchase Commitments
Property, Plant and Equipment
Commitments on drilling units under construction			25,000
Atwood Admiral | Milestone Payment No 3 | Capital Addition Purchase Commitments
Property, Plant and Equipment
Commitments on drilling units under construction			150,000
Atwood Admiral | Final Payment | Capital Addition Purchase Commitments
Property, Plant and Equipment
Commitments on drilling units under construction			146,000
Atwood Archer | Capital Addition Purchase Commitments
Property, Plant and Equipment
Commitments on drilling units under construction			358,000
Atwood Archer | Milestone Payment No 1 | Capital Addition Purchase Commitments
Property, Plant and Equipment
Commitments on drilling units under construction			50,000
Atwood Archer | Milestone Payment No 2 | Capital Addition Purchase Commitments
Property, Plant and Equipment
Commitments on drilling units under construction			25,000
Atwood Archer | Final Payment | Capital Addition Purchase Commitments
Property, Plant and Equipment
Commitments on drilling units under construction			$ 358,000

Long-Term Debt - Summary of Lon

Long-Term Debt - Summary of Long-Term Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Sep. 30, 2014
Debt Instrument [Line Items]
Long-term Debt	$ 1,716,247	$ 1,742,122
Senior Notes | 6.5% Senior Notes
Debt Instrument [Line Items]
Stated interest rate	6.50%	6.50%
Long-term Debt	$ 656,247	$ 657,122
Revolving Credit Facility
Debt Instrument [Line Items]
Long-term Debt	$ 1,060,000	$ 1,085,000

Debt Senior Notes - Narrative (

Debt Senior Notes - Narrative (Details) - Senior Notes - 6.5% Senior Notes $ in Thousands	Jun. 30, 2015USD ($)
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 650,000
Debt Instrument, Unamortized Premium	$ 8,500

Debt Credit Facility - Narrativ

Debt Credit Facility - Narrative (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2015USD ($)	Jun. 30, 2014USD ($)	Jun. 30, 2015USD ($)	Jun. 30, 2014USD ($)
Revolving Credit Facility
Line of Credit Facility [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	$ 1,550,000		$ 1,550,000
Maximum Leverage Ratio Through December 2017	4.50		4.50
Maximum Leverage Ratio After December 2017	4		4
Long-term line of credit	$ 1,060,000		$ 1,060,000
Weighted average interest rate	2.01%		2.01%
Interest costs capitalized	$ 6,081	$ 6,700	$ 14,917	$ 22,900
Remaining borrowing capacity	484,000		$ 484,000
Revolving Credit Facility | Minimum | Eurodollar
Line of Credit Facility [Line Items]
Basis spread on variable rate			1.75%
Unused capacity commitment fee			0.30%
Revolving Credit Facility | Maximum | Eurodollar
Line of Credit Facility [Line Items]
Basis spread on variable rate			2.00%
Unused capacity commitment fee			0.40%
Letter of Credit
Line of Credit Facility [Line Items]
Letters of credit outstanding	6,300		$ 6,300
May 2019 | Revolving Credit Facility
Line of Credit Facility [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	1,245,000		1,245,000
May 2018 | Revolving Credit Facility
Line of Credit Facility [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	$ 305,000		$ 305,000

Fair Value - Narrative (Details

Fair Value - Narrative (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Sep. 30, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Long-term debt, carrying value	$ 1,716,247	$ 1,742,122
Credit valuation adjustment to total fair value percentage	1.00%
Senior Notes | 6.5% Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Long-term debt, carrying value	$ 656,247	$ 657,122
Principal amount	650,000
Long-term debt, fair value	$ 627,000

Fair Value - Estimated Fair Val

Fair Value - Estimated Fair Value of Financial Instruments (Details) - Fair Value, Measurements, Recurring - USD ($) $ in Thousands	Jun. 30, 2015	Sep. 30, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Derivative, Fair Value, Net	$ 5,431	$ 4,492
Designated as Hedging Instrument | Prepaid expenses, deferred costs and other current assets | Foreign Exchange Forward
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Derivative Assets	5,987	3,930
Designated as Hedging Instrument | Deferred costs and other assets | Foreign Exchange Forward
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Derivative Assets	0	1,125
Designated as Hedging Instrument | Deferred costs and other assets | Interest Rate Swap
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Derivative Assets	388	275
Designated as Hedging Instrument | Accrued Liabilities | Interest Rate Swap
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Derivative Liability, Fair Value, Gross Liability	$ (944)	$ (838)

Share-Based Compensation Schedu

Share-Based Compensation Schedule of Share Based Compensation Expense (Details) - USD ($) $ in Thousands	9 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share-based compensation recognized	$ 9,277	$ 10,924
Unrecognized compensation cost, net of estimated forfeitures	$ 19,416	$ 20,423
Remaining weighted average service period (Years)	2 years 1 month 6 days	1 year 10 months 24 days

Share-Based Compensation - Summ

Share-Based Compensation - Summary of Restricted Stock Activity (Details) - 9 months ended Jun. 30, 2015 - Restricted Stock - $ / shares shares in Thousands	Total
Number of Shares:
Unvested at October 1, 2014 (in shares)	622
Granted (in shares)	393
Vested (in shares)	(199)
Forfeited (in shares)	(101)
Unvested at June 30, 2015 (in shares)	715
Weighted Average Fair Value:
Unvested at October 1, 2014 (in dollars per share)	$ 47.62
Granted (in dollars per share)	36.20
Vested (in dollars per share)	41.98
Forfeited (in dollars per share)	45.85
Unvested at June 30, 2015 (in dollars per share)	$ 43.16

Share-Based Compensation Summar

Share-Based Compensation Summary of Performance Stock Activity (Details) - 9 months ended Jun. 30, 2015 - Performance Shares - $ / shares shares in Thousands	Total
Number of Shares:
Unvested at October 1, 2014 (in shares)	264
Granted (in shares)	133
Vested (in shares)	98
Forfeited (in Shares)	59
Unvested at June 30, 2015 (in shares)	240
Weighted Average Fair Value:
Unvested at October 1, 2014 (in dollars per share)	$ 45.87
Granted (in dollars per share)	37.08
Vested (in dollars per share)	40.28
Forfeited (in dollars per share)	44.08
Unvested at June 30, 2015 (in dollars per share)	$ 43.73

Share-Based Compensation - Su34

Share-Based Compensation - Summary of Stock Option Activity (Details) - Jun. 30, 2015 - Stock Options - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	Total
Number of Options:
Outstanding at October 1, 2014 (shares)	833
Granted (shares)	0
Exercised (shares)	(68)
Forfeited (shares)	(17)
Expired (Shares)	(8)
Outstanding at March 31, 2015 (shares)	740
Exercisable at June 30, 2015 (shares)	691
Wtd. Avg. Exercise Price (in dollars per share):
Outstanding at October 1, 2014 (dollars per share)	$ 33.52
Granted (dollars per share)	0
Exercised (dollars per share)	15.57
Forfeited (dollars per share)	40.57
Expired (dollars per share)	12.31
Outstanding at March 31, 2015 (dollars per share)	35.23
Exercisable at June 30, 2015 (dollars per share)	$ 34.78
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Wtd. Avg. Remaining Contractual Life (Years), Outstanding at June 30, 2015	4 years 7 months 6 days
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1	4 years 6 months
Aggregate Intrinsic Value, Exercised	$ 1,227
Aggregate Intrinsic Value, Outstanding at June 30, 2015	1,158
Aggregate Intrinsic Value, Exercisable at June 30, 2015	$ 1,158

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Income Tax Contingency [Line Items]
Effective income tax rate	8.00%	9.00%	10.00%	16.00%
Statutory income tax rate			35.00%
Unrecognized tax benefits	$ 15.2		$ 15.2
Unrecognized tax benefits that would impact the effective tax rate	15.2		15.2
Other long-term liabilities
Income Tax Contingency [Line Items]
Estimated accrued interest and penalties	$ 3.5		$ 3.5

Commitments And Contingencies -

Commitments And Contingencies - Narrative (Details) - USD ($) $ in Thousands	9 Months Ended
	Jun. 30, 2015	Sep. 30, 2014
Loss Contingencies
Other receivables	$ 11,831	$ 11,831
Indian Tax Authority
Loss Contingencies
Service taxes paid	10,500
Accrued additional service tax	1,300
Total service taxes	11,800
Other receivables	$ 11,800

Subsequent Events (Details)

Subsequent Events (Details)	Jun. 30, 2015
Subsequent Events [Abstract]
Credit Facility Reduction In Commitment From Raising Capital	70.00%
Senior Secured Leverage Ratio	3
Interest Expense Coverage Ratio through July 29, 2015	3
Interest Expense Coverage Ratio post July 29, 2015	1.75