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 2017 and 2016 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 are included in "Reconciling Items." We measure segment assets as property and equipment.

Three Months Ended June 30, 2017



	Floaters		Jackups		Other		Operating Segments Total		Reconciling Items			Consolidated Total
Revenues	$	264.0	$	178.9	$	14.6	$	457.5	$	—		$	457.5
Operating expenses
Contract drilling (exclusive of depreciation)	145.6		132.3		13.4		291.3		—			291.3
Depreciation	72.0		31.6		—		103.6		4.3			107.9
General and administrative	—		—		—		—		30.5			30.5
Operating income	$	46.4	$	15.0	$	1.2	$	62.6	$	(34.8	)	$	27.8
Property and equipment, net	$	8,493.2	$	2,515.3	$	—	$	11,008.5	$	50.5		$	11,059.0

Three Months Ended June 30, 2016



	Floaters		Jackups		Other		Operating Segments Total		Reconciling Items			Consolidated Total
Revenues	$	636.4	$	251.3	$	21.9	$	909.6	$	—		$	909.6
Operating expenses
Contract drilling (exclusive of depreciation)	208.6		122.3		19.3		350.2		—			350.2
Depreciation	77.8		30.1		—		107.9		4.5			112.4
General and administrative	—		—		—		—		27.4			27.4
Operating income	$	350.0	$	98.9	$	2.6	$	451.5	$	(31.9	)	$	419.6
Property and equipment, net	$	8,414.1	$	2,543.0	$	—	$	10,957.1	$	64.1		$	11,021.2

Six Months Ended June 30, 2017



	Floaters		Jackups		Other		Operating Segments Total		Reconciling Items			Consolidated Total
Revenues	$	548.8	$	350.7	$	29.1	$	928.6	$	—		$	928.6
Operating expenses
Contract drilling (exclusive of depreciation)	292.0		250.9		26.5		569.4		—			569.4
Depreciation	144.8		63.7		—		208.5		8.6			217.1
General and administrative	—		—		—		—		56.5			56.5
Operating income	$	112.0	$	36.1	$	2.6	$	150.7	$	(65.1	)	$	85.6
Property and equipment, net	$	8,493.2	$	2,515.3	$	—	$	11,008.5	$	50.5		$	11,059.0

Six Months Ended June 30, 2016



	Floaters		Jackups		Other		Operating Segments Total		Reconciling Items			Consolidated Total
Revenues	$	1,149.0	$	529.2	$	45.4	$	1,723.6	$	—		$	1,723.6
Operating expenses
Contract drilling (exclusive of depreciation)	419.9		256.8		37.2		713.9		—			713.9
Depreciation	158.1		58.7		—		216.8		8.9			225.7
General and administrative	—		—		—		—		50.8			50.8
Operating income	$	571.0	$	213.7	$	8.2	$	792.9	$	(59.7	)	$	733.2
Property and equipment, net	$	8,414.1	$	2,543.0	$	—	$	10,957.1	$	64.1		$	11,021.2

Information about Geographic Areas

As of June 30, 2017, the geographic distribution of our drilling rigs by reportable segment was as follows:



	Floaters	Jackups	Total⁽¹⁾
North & South America	8	5	13
Europe & Mediterranean	6	11	17
Middle East & Africa	1	11	12
Asia & Pacific Rim	4	5	9
Asia & Pacific Rim (under construction)	1	1	2
Held-for-sale	1	1	2
Total	21	34	55


⁽¹⁾	We provide management services on two rigs owned by third-parties not included in the table above.