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Supplemental Financial Information (Tables)

6 Months Ended

Jun. 30, 2017

Supplemental Financial Information [Abstract]

Accounts Receivable, Net

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

	June 30, 2017				December 31, 2016
Trade	$	359.9			$	358.4
Other	28.1				24.5
	388.0				382.9
Allowance for doubtful accounts	(21.6		)		(21.9		)
	$	366.4			$	361.0

Other Current Assets

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

	June 30, 2017				December 31, 2016
Inventory	$	219.2			$	225.2
Prepaid taxes	41.1				30.7
Deferred costs	26.9				32.4
Prepaid expenses	11.0				7.9
Other	17.2				19.8
	$	315.4			$	316.0

Other Assets, Net

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

	June 30, 2017				December 31, 2016
Deferred tax assets	$	63.5			$	69.3
Deferred costs	30.8				35.7
Supplemental executive retirement plan assets	29.4				27.7
Prepaid taxes on intercompany transfers of property	—				33.0
Other	9.4				10.2
	$	133.1			$	175.9

Accrued Liabilities And Other

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

	June 30, 2017				December 31, 2016
Deferred revenue	$	100.1			$	116.7
Accrued interest	85.2				71.7
Personnel costs	82.1				124.0
Taxes	38.3				40.7
Derivative liabilities	1.9				12.7
Other	7.4				10.8
	$	315.0			$	376.6

Other Liabilities

Other liabilities consisted of the following (in millions):

	June 30, 2017				December 31, 2016
Unrecognized tax benefits (inclusive of interest and penalties)	$	138.5			$	142.9
Deferred revenue	80.5				120.9
Supplemental executive retirement plan liabilities	30.3				28.9
Personnel costs	13.8				13.5
Other	22.8				16.3
	$	285.9			$	322.5

Accumulated other comprehensive income

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

	June 30, 2017				December 31, 2016
Derivative instruments	$	20.8			$	13.6
Currency translation adjustment	7.8				7.6
Other	(1.7		)		(2.2		)
	$	26.9			$	19.0

Schedule of Revenue by Major Customers by Reporting Segments [Table Text Block]

Consolidated revenues by customer for the three-month and six-month periods ended June 30, 2017 and 2016 were as follows:

	Three Months Ended June 30,						Six Months Ended June 30,
	2017			2016			2017			2016
Total(1)	22	%		13	%		22	%		14	%
BP (2)	15	%		10	%		15	%		12	%
Petrobras(1)	11	%		9	%		10	%		12	%
ConocoPhillips(3)	2	%		23	%		2	%		15	%
Other	50	%		45	%		51	%		47	%
	100	%		100	%		100	%		100	%

⁽¹⁾  During the three-month and six-month periods ended June 30, 2017 and 2016, all revenues were attributable to our Floater segment.

⁽²⁾  During the three-month periods ended June 30, 2017 and 2016, 79% and 75% of the revenues provided by BP, respectively, were attributable to our Floaters segment and no revenue was attributable to our Jackups segment. During the six-month periods ended June 30, 2017 and 2016, 79% and 76% of the revenues provided by BP, respectively, were attributable to our Floaters segment and no revenue was attributable to our Jackups segment.

⁽³⁾  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.

Revenue from External Customers by Geographic Areas [Table Text Block]

Consolidated revenues by region for the three-month and six-month periods ended June 30, 2017 and 2016 were as follows:

	Three Months Ended June 30,								Six Months Ended June 30,
	2017				2016				2017				2016
Angola(1)	$	115.9			$	132.4			$	237.6			$	268.6
Australia(2)	55.3				62.3				109.9				124.8
Egypt(3)	53.4				36.5				106.6				36.5
Brazil(3)	48.7				81.7				96.5				202.7
United Kingdom(4)	36.7				69.7				67.9				143.5
U.S. Gulf of Mexico(5)(6)	33.0				304.5				77.3				464.7
Other	114.5				222.5				232.8				482.8
	$	457.5			$	909.6			$	928.6			$	1,723.6

⁽¹⁾  During the three-month periods ended June 30, 2017 and 2016, 87% and 88% of the revenues earned in Angola, respectively, were attributable to our Floaters segment. During the six-month period ended June 30, 2017 and 2016, 86% and 87% of the revenues earned in Angola, respectively, were attributable to our Floaters segment.

⁽²⁾  During the three-month and six-month periods ended June 30, 2017, 78% of the revenues earned in Australia were attributable to our Floaters segment. For the three-month and six-month periods ended June 30, 2016, all revenues were attributable to our Floaters segment.

⁽³⁾  During the three-month and six-month periods ended June 30, 2017 and 2016, all revenues were attributable to our Floaters segment.

⁽⁴⁾  During the three-month and six-month periods ended June 30, 2017 and 2016, all revenues were attributable to our Jackups segment.

⁽⁵⁾  During the three-month periods ended June 30, 2017 and 2016, 46% and 3% of the revenues earned, respectively, were attributable to our Jackups segment and 10% and 92% of the revenues earned, respectively, were attributable to our Floaters segment. During the six-month period ended June 30, 2017 and 2016, 37% and 4% of the revenues earned, respectively, were attributable to our Jackups segment and 25% and 89% earned, respectively, were attributable to our Floaters segment.

⁽⁶⁾  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.

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