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Supplemental Financial Information | 6 Months Ended
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Jun. 30, 2016
Supplemental Financial Information [Abstract] |
Supplemental Financial Information | Supplemental Financial Information Consolidated Balance Sheet Information Accounts receivable, net, consisted of the following (in millions):
| June 30, 2016 |  | December 31, 2015
Trade | $ | 415.8 |  |  | $ | 595.0 |
Other | 16.7 |  |  | 16.3 |
| 432.5 |  |  | 611.3 |
Allowance for doubtful accounts | (24.5 | ) |  | (29.3 | )
| $ | 408.0 |  |  | $ | 582.0 |
Other current assets consisted of the following (in millions):
| June 30, 2016 |  | December 31, 2015
Inventory | $ | 231.4 |  |  | $ | 235.3 |
Prepaid taxes | 50.0 |  |  | 73.5 |
Deferred costs | 40.2 |  |  | 52.1 |
Prepaid expenses | 8.0 |  |  | 20.5 |
Assets held-for-sale | 1.8 |  |  | 5.5 |
Other | 15.0 |  |  | 14.9 |
| $ | 346.4 |  |  | $ | 401.8 |
Other assets, net, consisted of the following (in millions):
| June 30, 2016 |  | December 31, 2015
Deferred tax assets | $ | 69.8 |  |  | $ | 94.8 |
Deferred costs | 42.6 |  |  | 55.8 |
Prepaid taxes on intercompany transfers of property | 33.8 |  |  | 37.1 |
Supplemental executive retirement plan assets | 33.3 |  |  | 33.1 |
Other | 9.6 |  |  | 16.8 |
| $ | 189.1 |  |  | $ | 237.6 |
Accrued liabilities and other consisted of the following (in millions):
| June 30, 2016 |  | December 31, 2015
Deferred revenue | $ | 172.9 |  |  | $ | 197.2 |
Personnel costs | 104.2 |  |  | 161.6 |
Taxes | 79.6 |  |  | 70.8 |
Accrued interest | 74.3 |  |  | 88.4 |
Derivative liabilities | 14.9 |  |  | 21.6 |
Other | 12.6 |  |  | 11.3 |
| $ | 458.5 |  |  | $ | 550.9 |
Other liabilities consisted of the following (in millions):
| June 30, 2016 |  | December 31, 2015
Unrecognized tax benefits (inclusive of interest and penalties) | $ | 153.4 |  |  | $ | 149.7 |
Deferred revenue | 143.5 |  |  | 218.6 |
Supplemental executive retirement plan liabilities | 34.5 |  |  | 34.4 |
Personnel costs | 11.4 |  |  | 17.7 |
Deferred tax liabilities | 8.7 |  |  | 4.4 |
Other | 10.2 |  |  | 24.4 |
| $ | 361.7 |  |  | $ | 449.2 |
Accumulated other comprehensive income consisted of the following (in millions):
| June 30, 2016 |  | December 31, 2015
Currency translation adjustment | $ | 7.6 |  |  | $ | 7.8 |
Derivative instruments | 13.9 |  |  | 6.6 |
Other | (1.7 | ) |  | (1.9 | )
| $ | 19.8 |  |  | $ | 12.5 |
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 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 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 six-month periods ended June 30, 2016 and 2015 were as follows:
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2016 |  | 2015 |  | 2016 |  | 2015
ConocoPhillips(1) | 23 | % |  | 3 | % |  | 15 | % |  | 3 | %
Total(2) | 13 | % |  | 10 | % |  | 14 | % |  | 9 | %
BP (3) | 10 | % |  | 16 | % |  | 12 | % |  | 14 | %
Petrobras(2) | 9 | % |  | 15 | % |  | 12 | % |  | 13 | %
Other | 45 | % |  | 56 | % |  | 47 | % |  | 61 | %
| 100 | % |  | 100 | % |  | 100 | % |  | 100 | %
(1) | During the three-month and six-month periods ended June 30, 2016, excluding the impact of the lump-sum termination payment of $185.0 million for ENSCO DS-9, revenues from ConocoPhillips represented 3% and 4%, respectively, of our consolidated revenues.
(2) | During the three-month and six-month periods ended June 30, 2016 and 2015, all revenues were attributable to our Floater segment.
(3) | During the three-month periods ended June 30, 2016 and 2015, 75% and 79% of the revenues provided by BP, respectively, were attributable to our Floaters segment. During the six-month periods ended June 30, 2016 and 2015, 76% and 82% of the revenues provided by BP, respectively, were attributable to our Floaters segment.
Consolidated revenues by region for the three-month and six-month periods ended June 30, 2016 and 2015 were as follows:
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2016 |  | 2015 |  | 2016 |  | 2015
U.S. Gulf of Mexico(1) | $ | 304.5 |  |  | $ | 271.0 |  |  | $ | 464.7 |  |  | $ | 609.8 |
Angola(2) | 132.4 |  |  | 182.4 |  |  | 268.6 |  |  | 351.7 |
Brazil(3) | 81.7 |  |  | 115.7 |  |  | 202.7 |  |  | 238.4 |
United Kingdom(4) | 69.7 |  |  | 104.3 |  |  | 143.5 |  |  | 224.9 |
Other | 321.3 |  |  | 385.6 |  |  | 644.1 |  |  | 798.1 |
| $ | 909.6 |  |  | $ | 1,059.0 |  |  | $ | 1,723.6 |  |  | $ | 2,222.9 |
(1) | During the three-month periods ended June 30, 2016 and 2015, 92% and 83% of the revenues earned in the U.S. Gulf of Mexico, respectively, were attributable to our Floaters segment. During the six-month period ended June 30, 2016 and 2015, 89% and 84% of the revenues earned in the U.S. Gulf of Mexico, respectively, were attributable to our Floaters segment. Revenue recognized during the three-month and six-month periods ended June 30, 2016 related to the U.S. Gulf of Mexico included termination fees totaling $205.0 million as discussed in "Note 1 - Unaudited Condensed Consolidated Financial Statements." ENSCO DS-9 termination revenues were attributed to the U.S. Gulf of Mexico as the related drilling contract was intended for operations in that region.
(2) | During the three-month periods ended June 30, 2016 and 2015, 88% and 91% of the revenues earned in Angola, respectively, were attributable to our Floaters segment. During the six-month period ended June 30, 2016 and 2015, 87% and 90% of the revenues earned in Angola, respectively, were attributable to our Floaters segment.
(3) | During the three-month and six-month periods ended June 30, 2016 and 2015, all revenues were attributable to our Floaters segment.
(4) | During the three-month and six-month periods ended June 30, 2016 and 2015, all revenues were attributable to our Jackups segment.

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