| Segment Information |
Segment Information Our business consists of three operating segments: (1) Floaters, which includes our drillships and semisubmersible rigs, (2) Jackups and (3) Other, which consists of management services on rigs owned by third-parties. Our two reportable segments, Floaters and Jackups, provide one service, contract drilling. Segment information for the three-month and six-month periods ended 2014 and 2013 is presented below (in millions). General and administrative expense and depreciation expense incurred by our corporate office are not allocated to our operating segments for purposes of measuring segment operating income and were included in "Reconciling Items." We measure segment assets as property and equipment. Prior year information has been reclassified to conform to the current year presentation.
Three Months Ended June 30, 2014 | | | | | | | | | | | | | | | | | | | | | | | | | | Floaters | | Jackups | | Other | | Operating Segments Total | | Reconciling Items | | Consolidated Total | Revenues | $ | 720.6 |
| | $ | 465.9 |
| | $ | 16.5 |
| | $ | 1,203.0 |
| | $ | — |
| | $ | 1,203.0 |
| Operating expenses | | | | | | | | | | | | Contract drilling (exclusive of depreciation) | 330.3 |
| | 234.0 |
| | 11.7 |
| | 576.0 |
| | — |
| | 576.0 |
| Loss on impairment | 991.5 |
| | — |
| | — |
| | 991.5 |
| | — |
| | 991.5 |
| Depreciation | 93.2 |
| | 44.1 |
| | — |
| | 137.3 |
| | 2.1 |
| | 139.4 |
| General and administrative | — |
| | — |
| | — |
| | — |
| | 36.2 |
| | 36.2 |
| Operating (loss) income | $ | (694.4 | ) | | $ | 187.8 |
| | $ | 4.8 |
| | $ | (501.8 | ) | | $ | (38.3 | ) | | $ | (540.1 | ) | Property and equipment, net | $ | 9,661.1 |
| | $ | 3,152.9 |
| | $ | — |
| | $ | 12,814.0 |
| | $ | 67.2 |
| | $ | 12,881.2 |
|
Three Months Ended June 30, 2013 | | | | | | | | | | | | | | | | | | | | | | | | | | Floaters | | Jackups | | Other | | Operating Segments Total | | Reconciling Items | | Consolidated Total | Revenues | $ | 716.9 |
| | $ | 393.1 |
| | $ | 20.3 |
| | $ | 1,130.3 |
| | $ | — |
| | $ | 1,130.3 |
| Operating expenses | | | | | | | | | | | | Contract drilling (exclusive of depreciation) | 302.6 |
| | 208.6 |
| | 16.0 |
| | 527.2 |
| | — |
| | 527.2 |
| Depreciation | 91.7 |
| | 38.7 |
| | — |
| | 130.4 |
| | 1.6 |
| | 132.0 |
| General and administrative | — |
| | — |
| | — |
| | — |
| | 36.4 |
| | 36.4 |
| Operating income (loss) | $ | 322.6 |
| | $ | 145.8 |
| | $ | 4.3 |
| | $ | 472.7 |
| | $ | (38.0 | ) | | $ | 434.7 |
| Property and equipment, net | $ | 10,862.5 |
| | $ | 2,491.2 |
| | $ | — |
| | $ | 13,353.7 |
| | $ | 36.8 |
| | $ | 13,390.5 |
|
Six Months Ended June 30, 2014 | | | | | | | | | | | | | | | | | | | | | | | | | | Floaters | | Jackups | | Other | | Operating Segments Total | | Reconciling Items | | Consolidated Total | Revenues | $ | 1,410.8 |
| | $ | 889.0 |
| | $ | 33.1 |
| | $ | 2,332.9 |
| | $ | — |
| | $ | 2,332.9 |
| Operating expenses | | | | | | | | | | | | Contract drilling (exclusive of depreciation) | 656.4 |
| | 449.2 |
| | 23.0 |
| | 1,128.6 |
| | — |
| | 1,128.6 |
| Loss on impairment | 991.5 |
| | — |
| | — |
| | 991.5 |
| | — |
| | 991.5 |
| Depreciation | 189.6 |
| | 85.0 |
| | — |
| | 274.6 |
| | 4.0 |
| | 278.6 |
| General and administrative | — |
| | — |
| | — |
| | — |
| | 74.3 |
| | 74.3 |
| Operating (loss) income | $ | (426.7 | ) | | $ | 354.8 |
| | $ | 10.1 |
| | $ | (61.8 | ) | | $ | (78.3 | ) | | $ | (140.1 | ) | Property and equipment, net | $ | 9,661.1 |
| | $ | 3,152.9 |
| | $ | — |
| | $ | 12,814.0 |
| | $ | 67.2 |
| | $ | 12,881.2 |
|
Six Months Ended June 30, 2013
| | | | | | | | | | | | | | | | | | | | | | | | | | Floaters | | Jackups | | Other | | Operating Segments Total | | Reconciling Items | | Consolidated Total | Revenues | $ | 1,342.2 |
| | $ | 787.9 |
| | $ | 40.5 |
| | $ | 2,170.6 |
| | $ | — |
| | $ | 2,170.6 |
| Operating expenses | | | | | | | | | | | | Contract drilling (exclusive of depreciation) | 573.2 |
| | 402.1 |
| | 31.7 |
| | 1,007.0 |
| | — |
| | 1,007.0 |
| Depreciation | 179.4 |
| | 77.3 |
| | — |
| | 256.7 |
| | 3.2 |
| | 259.9 |
| General and administrative | — |
| | — |
| | — |
| | — |
| | 74.2 |
| | 74.2 |
| Operating income (loss) | $ | 589.6 |
| | $ | 308.5 |
| | $ | 8.8 |
| | $ | 906.9 |
| | $ | (77.4 | ) | | $ | 829.5 |
| Property and equipment, net | $ | 10,862.5 |
| | $ | 2,491.2 |
| | $ | — |
| | $ | 13,353.7 |
| | $ | 36.8 |
| | $ | 13,390.5 |
|
Information about Geographic Areas
As of June 30, 2014, the geographic distribution of our drilling rigs by reportable segment was as follows: | | | | | | | | Floaters(1)
| | Jackups(2)
| | Total(3)
| North & South America (excluding Brazil) | 9 | | 12 | | 21 | Middle East & Africa | 6 | | 10 | | 16 | Asia & Pacific Rim | 4 | | 9 | | 13 | Europe & Mediterranean | 2 | | 10 | | 12 | Asia & Pacific Rim (under construction) | 3 | | 5 | | 8 | Brazil | 5 | | — | | 5 | Total | 29 | | 46 | | 75 |
| | (1) | The five floaters classified as "held for sale" as of June 30, 2014 are included in the table above. |
| | (2) | In July 2014, we accepted delivery of the ENSCO 122, which is committed under a long-term drilling contract. |
| | (3) | We provide management services on two rigs owned by third-parties not included in the table above. |
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