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Supplemental Financial Information | 12 Months Ended
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Dec. 31, 2015
Supplemental Financial Information [Abstract] |
Supplemental Balance Sheet Disclosures [Text Block] | 14. SUPPLEMENTAL FINANCIAL INFORMATION Consolidated Balance Sheet Information Accounts receivable, net, as of December 31, 2015 and 2014 consisted of the following (in millions):
|  | 2015 |  | 2014
Trade |  | $ | 595.0 |  |  | $ | 878.8 |
Other |  | 16.3 |  |  | 15.9 |
|  | 611.3 |  |  | 894.7 |
Allowance for doubtful accounts |  | (29.3 | ) |  | (11.4 | )
|  | $ | 582.0 |  |  | $ | 883.3 |
Other current assets as of December 31, 2015 and 2014 consisted of the following (in millions):
|  | 2015 |  | 2014
Inventory |  | $ | 235.3 |  |  | $ | 240.3 |
Prepaid taxes |  | 73.5 |  |  | 90.6 |
Deferred costs |  | 52.1 |  |  | 61.9 |
Prepaid expenses |  | 20.5 |  |  | 33.8 |
Assets held-for-sale |  | 5.5 |  |  | 152.4 |
Other |  | 14.9 |  |  | 6.6 |
|  | $ | 401.8 |  |  | $ | 585.6 |
Assets held-for-sale primarily consists of drilling rigs and equipment. See "Note 3 - Property and Equipment" and "Note 10 - Discontinued Operations" for additional information on the assets classified as held-for-sale on our balance sheet as of December 31, 2015. Other assets, net, as of December 31, 2015 and 2014 consisted of the following (in millions):
|  | 2015 |  | 2014
Deferred tax assets |  | $ | 94.8 |  |  | $ | 63.1 |
Deferred costs |  | 82.3 |  |  | 82.3 |
Prepaid taxes on intercompany transfers of property |  | 37.1 |  |  | 39.7 |
Supplemental executive retirement plan assets |  | 33.1 |  |  | 43.2 |
Intangible assets |  | 5.4 |  |  | 49.0 |
Unbilled receivables |  | 1.7 |  |  | 18.6 |
Warranty and other claim receivables |  | — |  |  | 30.6 |
Other |  | 9.7 |  |  | 12.4 |
|  | $ | 264.1 |  |  | $ | 338.9 |
Accrued liabilities and other as of December 31, 2015 and 2014 consisted of the following (in millions):
|  | 2015 |  | 2014
Deferred revenue |  | $ | 197.2 |  |  | $ | 241.3 |
Personnel costs |  | 161.6 |  |  | 214.0 |
Accrued interest |  | 88.4 |  |  | 83.8 |
Taxes |  | 70.8 |  |  | 94.5 |
Derivative liabilities |  | 21.6 |  |  | 24.1 |
Other |  | 11.3 |  |  | 36.4 |
|  | $ | 550.9 |  |  | $ | 694.1 |
Other liabilities as of December 31, 2015 and 2014 consisted of the following (in millions):
|  | 2015 |  | 2014
Deferred revenue |  | $ | 218.6 |  |  | $ | 373.2 |
Unrecognized tax benefits (inclusive of interest and penalties) |  | 149.7 |  |  | 142.4 |
Supplemental executive retirement plan liabilities |  | 34.4 |  |  | 45.1 |
Personnel costs |  | 17.7 |  |  | 26.1 |
Intangible liabilities |  | 12.6 |  |  | 40.7 |
Other |  | 11.8 |  |  | 39.8 |
|  | $ | 444.8 |  |  | $ | 667.3 |
Accumulated other comprehensive income as of December 31, 2015 and 2014 consisted of the following (in millions):
|  | 2015 |  | 2014
Currency Translation Adjustment |  | $ | 7.8 |  |  | $ | 5.1 |
Derivative Instruments |  | 6.6 |  |  | 8.0 |
Other |  | (1.9 | ) |  | (1.2 | )
|  | $ | 12.5 |  |  | $ | 11.9 |
Consolidated Statement of Operations Information Repair and maintenance expense related to continuing operations for each of the years in the three-year period ended December 31, 2015 was as follows (in millions):
|  | 2015 |  | 2014 |  | 2013
Repair and maintenance expense |  | $ | 270.1 |  |  | $ | 357.2 |  |  | $ | 287.8 |
Consolidated Statement of Cash Flows Information Net cash provided by operating activities of continuing operations attributable to the net change in operating assets and liabilities for each of the years in the three-year period ended December 31, 2015 was as follows (in millions):
|  | 2015 |  | 2014 |  | 2013
(Decrease) increase in liabilities |  | (379.2 | ) |  | 208.2 |  |  | (10.3 | )
Decrease (increase) in accounts receivable |  | 269.5 |  |  | (38.5 | ) |  | (46.7 | )
Decrease (increase) in other assets |  | 25.7 |  |  | (76.4 | ) |  | (94.1 | )
|  | $ | (84.0 | ) |  | $ | 93.3 |  |  | $ | (151.1 | )
During 2015, the net change in operating assets and liabilities declined by $177.3 million as compared to the prior year. The net change during 2015 was primarily due to a decline in accrued liabilities related to the amortization of deferred revenue, partially offset by a decline in accounts receivable due to lower revenues from contract drilling services. During 2014, the net change in operating assets and liabilities increased by $244.4 million as compared to the prior year due to an increase in accrued liabilities for the receipt of up-front lump-sum fees that were recorded as deferred revenue on our consolidated balance sheet. Cash paid for interest and income taxes for each of the years in the three-year period ended December 31, 2015 was as follows (in millions):
|  | 2015 |  | 2014 |  | 2013
Interest, net of amounts capitalized |  | $ | 249.3 |  |  | $ | 170.0 |  |  | $ | 182.2 |
Income taxes |  | 97.3 |  |  | 218.2 |  |  | 195.4 |
Capitalized interest totaled $87.4 million, $78.2 million and $67.7 million during the years ended December 31, 2015, 2014 and 2013, respectively. Capital expenditure accruals totaling $60.9 million, $137.2 million and $111.8 million for the years ended December 31, 2015, 2014 and 2013, respectively, were excluded from investing activities in our consolidated statements of cash flows. Amortization of intangibles and other, net, included amortization of intangible assets and liabilities related to the estimated fair values of Pride firm drilling contracts in place at the Pride acquisition date, debt premiums related to the fair value adjustment of Pride debt instruments, deferred charges for income taxes incurred on intercompany transfers of drilling rigs and certain other deferred costs. Concentration of Risk We are exposed to credit risk relating to our receivables from customers, our cash and cash equivalents and 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 our expectations. During 2014 and 2015, we insured certain receivables deemed to have a higher credit risk. We mitigate our credit risk relating to cash and 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 counterparties of our derivatives through a variety of techniques, including transacting with multiple, high-quality financial institutions, thereby limiting our exposure to individual counterparties and by entering into ISDA Master Agreements, which include provisions for a legally enforceable master netting agreement, with our derivative counterparties. See "Note 5 - Derivative Instruments" for additional information on our derivative activity. 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. Consolidated revenues by customer for the years ended December 31, 2015, 2014 and 2013 were as follows:
|  | 2015 |  | 2014 |  | 2013
BP (1) |  | 18 | % |  | 16 | % |  | 10 | %
Petrobras(2) |  | 14 | % |  | 9 | % |  | 14 | %
Other |  | 68 | % |  | 75 | % |  | 76 | %
|  | 100 | % |  | 100 | % |  | 100 | %
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(1) | For the years ended December 31 2015, 2014 and 2013, 81%, 80% and 84% of the revenues provided by BP, respectively, were attributable to our Floaters segment.
For the year ended December 31, 2015, revenues provided by BP included $110.6 million for the ENSCO DS-4 lump sum termination fee.
(2) | For the years ended December 31, 2015, 2014 and 2013, all Petrobras revenues were attributable to our Floaters segment.
For purposes of our geographic disclosure, we attribute revenues to the geographic location where such revenues are earned. Consolidated revenues by region for the years ended December 31, 2015, 2014 and 2013 were as follows (in millions):
|  | 2015 |  | 2014 |  | 2013
U.S. Gulf of Mexico(1) |  | $ | 1,151.5 |  |  | $ | 1,712.4 |  |  | $ | 1,687.2 |
Angola(2) |  | 586.5 |  |  | 607.9 |  |  | 365.9 |
Brazil(3) |  | 468.5 |  |  | 459.1 |  |  | 683.7 |
United Kingdom(4) |  | 400.7 |  |  | 406.2 |  |  | 308.4 |
Other |  | 1,456.2 |  |  | 1,378.9 |  |  | 1,278.2 |
|  | $ | 4,063.4 |  |  | $ | 4,564.5 |  |  | $ | 4,323.4 |
(1) | For the years ended December 31, 2015, 2014 and 2013, 86%, 79% and 77% of the revenues earned in the U.S. Gulf of Mexico, respectively, were attributable to our Floaters segment.
(2) | For the years ended December 31, 2015, 2014 and 2013, 88%, 100% and 96% of the revenues earned in Angola, respectively, were attributable to our Floaters segment.
(3) | For the years ended December 31, 2015, 2014 and 2013, all revenues were attributable to our Floaters segment.
(4) | For the years ended December 31, 2015, 2014 and 2013, all were revenues attributable to our Jackups segment.

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