PATTERSON UTI ENERGY INC - Annual Report: 2024 (Form 10-K)

Major Customer — During 2024, one customer accounted for approximately $ million or % of our consolidated operating revenues. These revenues were earned in the drilling services, completion services, and drilling products businesses. During 2023, one customer accounted for approximately $ million or % of our consolidated operating revenues. These revenues were earned in both drilling services and completion services businesses. During 2022, one customer accounted for approximately $ million or % of our consolidated operating revenues. These revenues were earned in both drilling services and completion services businesses.

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$ $ $

Direct operating costs (1)

Selling, general and administrative

Depreciation, amortization and impairment (1)

Impairment of goodwill

Other segment items (2)

() ()

Segment operating income (loss) (3)

$ $()$ $()Reconciliation of revenue:Total segment revenues from external customers$

Other revenues (4)

Total consolidated revenues$ Reconciliation to consolidated income (loss) before income taxes:

Segment operating income (loss) (3)

$()

Other (4)

()Corporate()Interest income Interest expense()Other income (expense)()Income before income taxes$()Drilling ServicesCompletion ServicesDrilling ProductsTotalYear Ended December 31, 2023Revenues from external customers$ $ $ $

Direct operating costs (1)

Selling, general and administrative

Depreciation, amortization and impairment (1)

Other segment items (2)

() ()

Segment operating income (loss) (3)

$ $ $()$ Reconciliation of revenue:Total segment revenues from external customers$

Other revenues (4)

Total consolidated revenues$ Reconciliation to consolidated income (loss) before income taxes:

Segment operating income (3)

Other (4)

Corporate()Interest income Interest expense()Other income (expense) Income before income taxes$

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$ $ $

Direct operating costs (1)

Selling, general and administrative

Depreciation, amortization and impairment (1)

Other segment items (2)

() ()

Segment operating income (3)

$ $ $ $ Reconciliation of revenue:Total segment revenues from external customers$

Other revenues (4)

Total consolidated revenues$ Reconciliation to consolidated income (loss) before income taxes:

Segment operating income (3)

Other (4)

Corporate()Interest income Interest expense()Other income (expense)()Income before income taxes$

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PATTERSON-UTI ENERGY, INC. AND SUBSIDIARIES

$ $ $()(1)$ Deferred tax valuation allowance Year Ended December 31, 2023Allowance for credit losses$ $ $ $()(1)$ Deferred tax valuation allowance () Year Ended December 31, 2022Allowance for credit losses$ $ $ $()(1)$ Deferred tax valuation allowance ()

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SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, Patterson-UTI Energy, Inc. has duly caused this Report on Form 10-K to be signed on its behalf by the undersigned, thereunto duly authorized.


			PATTERSON-UTI ENERGY, INC.

			By:			/s/ William Andrew Hendricks, Jr.
						William Andrew Hendricks, Jr.
						President and Chief Executive Officer

Date: February 11, 2025

Pursuant to the requirements of the Securities Exchange Act of 1934, this Report on Form 10-K has been signed by the following persons on behalf of Patterson-UTI Energy, Inc. and in the capacities indicated as of February 11, 2025.


Signature						Title

/s/ Curtis W. Huff						Chairman of the Board
Curtis W. Huff

/s/ Robert W. Drummond						Vice Chairman of the Board
Robert W. Drummond

/s/ William Andrew Hendricks, Jr.						President, Chief Executive Officer
William Andrew Hendricks, Jr.						and Director
(Principal Executive Officer)

/s/ C. Andrew Smith						Executive Vice President and
C. Andrew Smith						Chief Financial Officer
(Principal Financial and Accounting Officer)

/s/ Leslie A. Beyer						Director
Leslie A. Beyer

/s/ Tiffany Thom Cepak						Director
Tiffany Thom Cepak

/s/ Gary M. Halverson						Director
Gary M. Halverson

/s/ Cesar Jaime						Director
Cesar Jaime

/s/ Janeen S. Judah						Director
Janeen S. Judah

/s/ Amy H. Nelson						Director
Amy H. Nelson

/s/ Julie J. Robertson						Director
Julie J. Robertson

/s/ James C. Stewart						Director
James C. Stewart

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PATTERSON UTI ENERGY INC - Annual Report: 2024 (Form 10-K)

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