Supplemental Financial Information

Condensed Consolidated Balance Sheet Information

Accounts receivable, net, consisted of the following (in millions):



	March 31, 2016			December 31, 2015
Trade	$	590.6		$	595.0
Other	15.5			16.3
	606.1			611.3
Allowance for doubtful accounts	(32.1		)	(29.3		)
	$	574.0		$	582.0

Other current assets consisted of the following (in millions):



	March 31, 2016		December 31, 2015
Inventory	$	235.4	$	235.3
Deferred costs	49.7		52.1
Prepaid taxes	49.2		73.5
Prepaid expenses	12.3		20.5
Assets held-for-sale	5.4		5.5
Other	17.8		14.9
	$	369.8	$	401.8

Other assets, net, consisted of the following (in millions):



	March 31, 2016		December 31, 2015
Deferred tax assets	$	61.6	$	94.8
Deferred costs	48.4		55.8
Prepaid taxes on intercompany transfers of property	34.2		37.1
Supplemental executive retirement plan assets	32.7		33.1
Other	13.2		16.8
	$	190.1	$	237.6

Accrued liabilities and other consisted of the following (in millions):



	March 31, 2016		December 31, 2015
Deferred revenue	$	189.1	$	197.2
Personnel costs	107.7		161.6
Taxes	71.5		70.8
Accrued interest	32.1		88.4
Derivative liabilities	10.9		21.6
Other	13.1		11.3
	$	424.4	$	550.9

Other liabilities consisted of the following (in millions):



	March 31, 2016		December 31, 2015
Deferred revenue	$	177.4	$	218.6
Unrecognized tax benefits (inclusive of interest and penalties)	157.2		149.7
Supplemental executive retirement plan liabilities	33.8		34.4
Personnel costs	11.5		17.7
Deferred income taxes	9.9		4.4
Intangible liabilities	5.8		12.6
Other	9.6		11.8
	$	405.2	$	449.2

Accumulated other comprehensive income consisted of the following (in millions):



	March 31, 2016			December 31, 2015
Currency Translation Adjustment	$	7.7		$	7.8
Derivative Instruments	16.0			6.6
Other	(1.9		)	(1.9		)
	$	21.8		$	12.5

Concentration of Risk

We are exposed to credit risk related 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 by focusing on diversification and quality of instruments. Cash equivalents consist of a portfolio of high-grade instruments. Custody of cash and cash equivalents 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 quarters ended March 31, 2016 and 2015 were as follows:



	March 31, 2016		March 31, 2015
Petrobras⁽¹⁾	16	%	11	%
Total⁽¹⁾	15	%	8	%
BP ⁽²⁾	14	%	13	%
Other	55	%	68	%
	100	%	100	%


⁽¹⁾	During the quarters ended March 31, 2016 and 2015, all revenues were provided by our Floaters segment.


⁽²⁾	During the quarters ended March 31, 2016 and 2015, 76% and 85% of the revenues provided by BP, respectively, were attributable to our Floaters segment.

Consolidated revenues by region for the quarters ended March 31, 2016 and 2015 were as follows:



	March 31, 2016		March 31, 2015
U.S. Gulf of Mexico⁽¹⁾	$	160.2	$	338.8
Angola⁽²⁾	136.2		169.3
Brazil⁽³⁾	121.0		122.7
United Kingdom⁽⁴⁾	73.8		120.6
Other	322.8		412.5
	$	814.0	$	1,163.9


⁽¹⁾	During the quarters ended March 31, 2016 and 2015, 84% of the revenues earned in the U.S. Gulf of Mexico were attributable to our Floaters segment.


⁽²⁾	During the quarters ended March 31, 2016 and 2015, 87% and 90% of the revenues earned in Angola, respectively, were attributable to our Floaters segment.


⁽³⁾	During the quarters ended March 31, 2016 and 2015, all revenues were provided by our Floaters segment.


⁽⁴⁾	During the quarters ended March 31, 2016 and 2015, all revenues were provided by our Jackups segment.