XML 83 R20.htm IDEA: XBRL DOCUMENT
v3.3.0.814

Supplemental Financial Information | 9 Months Ended
--- | ---
Sep. 30, 2015
Supplemental Financial Information [Abstract] |
Supplemental Financial Information | Supplemental Financial Information Consolidated Balance Sheet Information Accounts receivable, net, consisted of the following (in millions):
| September 30, 2015 |  | December 31, 2014
Trade | $ | 730.6 |  |  | $ | 878.8 |
Other | 14.4 |  |  | 15.9 |
| 745.0 |  |  | 894.7 |
Allowance for doubtful accounts | (9.4 | ) |  | (11.4 | )
| $ | 735.6 |  |  | $ | 883.3 |
Other current assets consisted of the following (in millions):
| September 30, 2015 |  | December 31, 2014
Inventory | $ | 256.4 |  |  | $ | 240.3 |
Assets held for sale | 127.5 |  |  | 152.4 |
Prepaid taxes | 70.7 |  |  | 90.6 |
Deferred costs | 54.8 |  |  | 61.9 |
Deferred tax assets | 33.9 |  |  | 43.8 |
Prepaid expenses | 30.0 |  |  | 33.8 |
Other | 13.3 |  |  | 6.6 |
| $ | 586.6 |  |  | $ | 629.4 |
Other assets, net consisted of the following (in millions):
| September 30, 2015 |  | December 31, 2014
Deferred costs | $ | 86.5 |  |  | $ | 82.3 |
Supplemental executive retirement plan assets | 42.8 |  |  | 43.2 |
Prepaid taxes on intercompany transfers of property | 37.7 |  |  | 39.7 |
Deferred tax assets | 36.2 |  |  | 38.4 |
Intangible assets | 8.5 |  |  | 49.0 |
Unbilled receivables | 1.7 |  |  | 18.6 |
Warranty and other claim receivables | — |  |  | 30.6 |
Other | 9.8 |  |  | 12.4 |
| $ | 223.2 |  |  | $ | 314.2 |
Accrued liabilities and other consisted of the following (in millions):
| September 30, 2015 |  | December 31, 2014
Deferred revenue | $ | 198.0 |  |  | $ | 241.3 |
Personnel costs | 158.6 |  |  | 214.0 |
Accrued interest | 75.4 |  |  | 83.8 |
Taxes | 60.8 |  |  | 97.0 |
Derivative liabilities | 30.7 |  |  | 24.1 |
Other | 11.7 |  |  | 36.4 |
| $ | 535.2 |  |  | $ | 696.6 |
Other liabilities consisted of the following (in millions):
| September 30, 2015 |  | December 31, 2014
Deferred revenue | $ | 240.6 |  |  | $ | 373.2 |
Unrecognized tax benefits (inclusive of interest and penalties) | 151.6 |  |  | 142.4 |
Supplemental executive retirement plan liabilities | 43.9 |  |  | 45.1 |
Intangible liabilities | 16.9 |  |  | 40.7 |
Personnel costs | 16.2 |  |  | 26.1 |
Other | 35.4 |  |  | 39.8 |
| $ | 504.6 |  |  | $ | 667.3 |
Accumulated other comprehensive income consisted of the following (in millions):
| September 30, 2015 |  | December 31, 2014
Cumulative Translation Adjustment | $ | 10.2 |  |  | $ | 5.1 |
Derivative Instruments | .4 |  |  | 8.0 |
Other | (2.1 | ) |  | (1.2 | )
| $ | 8.5 |  |  | $ | 11.9 |
The increase in the cumulative translation adjustment is due to changes in the Brazilian reai exchange rate relative to the U.S. dollar during the nine-month period ended September 30, 2015. Concentration of Risk We are exposed to credit risk relating to our receivables from customers, our cash and cash equivalents, our short-term investments and our use of derivatives in connection with the management of foreign currency exchange rate risk. We mitigate our credit risk relating to receivables from customers, which consist primarily of major international, government-owned and independent oil and gas companies, by performing ongoing credit evaluations. We also maintain reserves for potential credit losses, which generally have been within management's expectations. We mitigate our credit risk relating to cash and cash equivalents and short-term investments by focusing on diversification and quality of instruments. Cash equivalents and short-term investments consist of a portfolio of high-grade instruments. Custody of cash and cash equivalents and short-term investments is maintained at several well-capitalized financial institutions, and we monitor the financial condition of those financial institutions. We mitigate our credit risk relating to derivative counterparties through a variety of techniques, including transacting with multiple, high-quality financial institutions, thereby limiting our exposure to individual counterparties and by entering into International Swaps and Derivatives Association, Inc. (“ISDA”) Master Agreements, which include provisions for a legally enforceable master netting agreement, with almost all of our derivative counterparties. The terms of the ISDA agreements may also include credit support requirements, cross default provisions, termination events or set-off provisions. Legally enforceable master netting agreements reduce credit risk by providing protection in bankruptcy in certain circumstances and generally permitting the closeout and netting of transactions with the same counterparty upon the occurrence of certain events. See "Note 3 - Derivative Instruments" for additional information on our derivatives. Consolidated revenues by customer for the three-month and nine-month periods ended September 30, 2015 and 2014 were as follows:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2015 |  | 2014 |  | 2015 |  | 2014
BP (1) | 27 | % |  | 15 | % |  | 18 | % |  | 16 | %
Petrobras(2) | 16 | % |  | 10 | % |  | 14 | % |  | 10 | %
Total(2) | 6 | % |  | 8 | % |  | 8 | % |  | 10 | %
Anadarko(2) | 1 | % |  | 8 | % |  | 4 | % |  | 10 | %
Other | 50 | % |  | 59 | % |  | 56 | % |  | 54 | %
| 100 | % |  | 100 | % |  | 100 | % |  | 100 | %
(1) | During the three-month periods ended September 30, 2015 and 2014, 86% and 79% of the revenues provided by BP, respectively, were attributable to our Floaters segment. During the nine-month periods ended September 30, 2015 and 2014, 84% and 80% of the revenues provided by BP, respectively, were attributable to our Floaters segment.
During the three-month and nine-month periods ended September 30, 2015, revenues provided by BP included $110.6 million for the ENSCO DS-4 lump sum termination fee.
(2) | During the three-month and nine-month periods ended September 30, 2015 and 2014, all revenues were provided by our Floaters segment.
Consolidated revenues by region for the three-month and nine-month periods ended September 30, 2015 and 2014 were as follows:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2015 |  | 2014 |  | 2015 |  | 2014
U.S. Gulf of Mexico(1) | $ | 363.0 |  |  | $ | 447.1 |  |  | $ | 972.8 |  |  | $ | 1,320.6 |
Angola(2) | 136.6 |  |  | 150.1 |  |  | 488.3 |  |  | 458.5 |
Brazil(3) | 112.9 |  |  | 115.8 |  |  | 351.3 |  |  | 361.5 |
United Kingdom(4) | 91.5 |  |  | 117.8 |  |  | 316.4 |  |  | 268.7 |
Other | 308.2 |  |  | 370.6 |  |  | 1,106.3 |  |  | 995.4 |
| $ | 1,012.2 |  |  | $ | 1,201.4 |  |  | $ | 3,235.1 |  |  | $ | 3,404.7 |
(1) | During the three-month periods ended September 30, 2015 and 2014, 90% and 80% of the revenues earned in the U.S. Gulf of Mexico, respectively, were attributable to our Floaters segment. During the nine-month periods ended September 30, 2015 and 2014, 86% and 78% of the revenues earned in the U.S. Gulf of Mexico, respectively, were attributable to our Floaters segment.
(2) | During the three-month periods ended September 30, 2015 and 2014, 87% and 100% of the revenues earned in Angola, respectively, were attributable to our Floaters segment. During the nine-month periods ended September 30, 2015 and 2014, 90% and 100% of the revenues earned in Angola, respectively, were attributable to our Floaters segment.
(3) | During the three-month and nine-month periods ended September 30, 2015 and 2014, all revenues were provided by our Floaters segment.
(4) | During the three-month and nine-month periods ended September 30, 2015 and 2014, all revenues were provided by our Jackups segment.

X
- Definition Supplemental Financial Information [Abstract] + References No definition available. + Details
Name: | esv_SupplementalFinancialInformationAbstract
Namespace Prefix: | esv_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosures of supplemental information, including descriptions and amounts, related to the balance sheet, income statement, and/or cash flow statement. + References No definition available. + Details
Name: | us-gaap_AdditionalFinancialInformationDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration