Note 11 Investments in Unconsolidated Affiliates
Our principal investment in unconsolidated affiliates accounted for using the equity method include drilling and workover operations located in Saudi Arabia (51% ownership). This unconsolidated affiliate is integral to our operations. See Note 18—Related-Party Transactions for additional information. During 2011 and 2012, we sold our equity interests in unconsolidated oil and gas joint ventures.
Combined condensed financial data for investments in unconsolidated affiliates, including assets classified as held for sale, are summarized as follows:
| |
December 31, | ||||||
|---|---|---|---|---|---|---|---|
| |
2013 | 2012 | |||||
| |
(In thousands) |
||||||
|
Current assets |
$ | 442,703 | $ | 174,977 | |||
|
Long-term assets |
$ | 138,222 | $ | 161,207 | |||
|
Current liabilities |
$ | 440,585 | $ | 194,504 | |||
|
Long-term liabilities |
$ | 4,169 | $ | 3,389 | |||
| |
Year Ended December 31, | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| |
2013 | 2012 | 2011 | |||||||
| |
|
Revised |
Revised |
|||||||
| |
(In thousands) |
|||||||||
|
Gross revenues |
$ | 562,101 | $ | 657,362 | $ | 760,257 | ||||
|
Gross margin |
$ | 46,446 | $ | 107,035 | $ | 205,502 | ||||
|
Net income (loss) |
$ | 1,088 | $ | (624,172 | ) | $ | 327,760 | |||
|
Nabors' earnings (losses) from unconsolidated affiliates(1)(2) |
$ | 39 | $ | (288,718 | ) | $ | 85,448 | |||