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Helmerich & Payne, Inc. Announces Second 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 Six Months Ended
  December 31 March 31 March 31
  2012 2013 2012 2013 2012
Operating income           
U.S. Land $234,388 $225,998 $209,959 $460,386 $434,665
Offshore 15,006 13,650 9,818 28,656 22,022
International Land 9,111 13,169 (974) 22,280 6,965
Other (1,635) (2,539) (1,833) (4,174) (3,621)
Segment operating income  $256,870 $250,278 $216,970 $507,148 $460,031
Corporate general and administrative (19,826) (20,710) (16,860) (40,536) (33,215)
Other depreciation (2,934) (3,307) (1,668) (6,241) (3,224)
Inter-segment elimination 1,218 1,346 763 2,564 1,469
Income from asset sales 5,219 5,313 7,820 10,532 12,503
Operating income $240,547 $232,920 $207,025 $473,467 $437,564
           
Other income (expense):          
Interest and dividend income 426 315 356 741 692
Interest expense (1,308) (1,186) (2,421) (2,494) (4,882)
Gain on sale of investment securities 8,752 -- -- 8,752 --
Other (2,084) 103 (42) (1,981) (21)
Total other income (expense) 5,786 (768) (2,107) 5,018 (4,211)
           
Income from continuing operations before income taxes           
  $246,333 $232,152 $204,918 $478,485 $433,353
CONTACT:  Investor Relations
          investor.relations@hpinc.com
          (918) 588-5207

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