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Helmerich & Payne, Inc. Announces Record First Quarter Results

The following table reconciles operating income per the information above to income from continuing operations before income taxes as reported on the Consolidated Statements of Income (in thousands).

  Three Months Ended
  September 30 December 31
  2012 2012 2011
Operating income      
U.S. Land $ 236,619 $ 234,388 $ 224,706
Offshore 12,033 15,006 12,204
International Land 7,126 9,111 7,939
Other (3,042) (1,635) (1,788)
Segment operating income $ 252,736 $ 256,870 $ 243,061
Corporate general and administrative (16,905) (19,826) (16,355)
Other depreciation (2,510) (2,934) (1,556)
Inter-segment elimination 1,201 1,218 706
Income from asset sales 4,858 5,219 4,683
Operating income $ 239,380  $ 240,547 $ 230,539
       
Other income (expense):      
Interest and dividend income  359 426 336
Interest expense  (1,360) (1,308) (2,461)
Gain on sale of investment securities  -- 8,752 --
Other  (34) (2,084) 21
Total other income (expense)  (1,035) 5,786 (2,104)
       
Income from continuing operations before income taxes  $ 238,345  $ 246,333 $ 228,435
CONTACT: Investor Relations
         investor.relations@hpinc.com
         (918) 588-5207

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