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Supplemental Financial Information (Tables)

9 Months Ended

Sep. 30, 2017

Supplemental Financial Information [Abstract]

Accounts Receivable, Net

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

	September 30, 2017				December 31, 2016
Trade	$	338.6			$	358.4
Other	31.2				24.5
	369.8				382.9
Allowance for doubtful accounts	(20.8		)		(21.9		)
	$	349.0			$	361.0

Other Current Assets

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

	September 30, 2017				December 31, 2016
Inventory	$	219.7			$	225.2
Prepaid taxes	35.8				30.7
Deferred costs	31.4				32.4
Prepaid expenses	14.1				7.9
Other	17.3				19.8
	$	318.3			$	316.0

Other Assets, Net

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

	September 30, 2017				December 31, 2016
Deferred tax assets	$	54.7			$	69.3
Deferred costs	30.8				35.7
Supplemental executive retirement plan assets	30.0				27.7
Prepaid taxes on intercompany transfers of property	—				33.0
Other	9.5				10.2
	$	125.0			$	175.9

Accrued Liabilities And Other

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

	September 30, 2017				December 31, 2016
Personnel costs	$	95.2			$	124.0
Deferred revenue	88.0				116.7
Accrued interest	70.6				71.7
Taxes	36.9				40.7
Derivative liabilities	1.8				12.7
Other	8.3				10.8
	$	300.8			$	376.6

Other Liabilities

Other liabilities consisted of the following (in millions):

	September 30, 2017				December 31, 2016
Unrecognized tax benefits (inclusive of interest and penalties)	$	144.2			$	142.9
Deferred revenue	65.5				120.9
Supplemental executive retirement plan liabilities	31.2				28.9
Personnel costs	14.9				13.5
Other	23.4				16.3
	$	279.2			$	322.5

Accumulated other comprehensive income

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

	September 30, 2017				December 31, 2016
Derivative instruments	$	22.4			$	13.6
Currency translation adjustment	7.8				7.6
Other	(1.6		)		(2.2		)
	$	28.6			$	19.0

Schedule of Revenue by Major Customers by Reporting Segments

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

	Three Months Ended September 30,						Nine Months Ended September 30,
	2017			2016			2017			2016
Total(1)	24	%		23	%		23	%		16	%
BP (2)	15	%		13	%		15	%		12	%
Petrobras(1)	11	%		9	%		11	%		11	%
ConocoPhillips(3)	3	%		2	%		2	%		12	%
Other	47	%		53	%		49	%		49	%
	100	%		100	%		100	%		100	%

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

⁽²⁾  During the three-month periods ended September 30, 2017 and 2016, 78% and 73% of the revenues provided by BP, respectively, were attributable to our Floaters segment and no revenue was attributable to our Jackups segment. During the nine-month periods ended September 30, 2017 and 2016, 78% and 75% 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 nine-month period ended September 30, 2016, excluding the impact of the lump-sum termination payment of $185.0 million for ENSCO DS-9, revenues from ConocoPhillips represented 3% of our consolidated revenues.

Revenue from External Customers by Geographic Areas

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

	Three Months Ended September 30,								Nine Months Ended September 30,
	2017				2016				2017				2016
Angola(1)	$	118.9			$	142.7			$	356.5			$	411.3
Egypt(2)	53.8				50.5				160.4				87.0
Brazil(2)	51.1				48.6				147.6				251.3
United Kingdom(3)	49.1				60.5				117.0				204.0
Australia(4)	48.7				44.6				158.6				169.4
U.S. Gulf of Mexico(5)(6)	34.9				33.6				112.2				498.3
Other	103.7				167.7				336.5				650.5
	$	460.2			$	548.2			$	1,388.8			$	2,271.8

⁽¹⁾  During the three-month periods ended September 30, 2017 and 2016, 85% and 87% of the revenues earned in Angola, respectively, were attributable to our Floaters segment. During the nine-month periods ended September 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 nine-month periods ended September 30, 2017 and 2016, all revenues were attributable to our Floaters segment.

⁽³⁾  During the three-month and nine-month periods ended September 30, 2017 and 2016, all revenues were attributable to our Jackups segment.

⁽⁴⁾  During the three-month and nine-month periods ended September 30, 2017, 92% and 83% of the revenues earned in Australia were attributable to our Floaters segment. For the three-month and nine-month periods ended September 30, 2016, all revenues were attributable to our Floaters segment.

⁽⁵⁾  During the three-month periods ended September 30, 2017 and 2016, 21% and 41% of the revenues earned, respectively, were attributable to our Floaters segment and 35% and 14% of the revenues earned, respectively, were attributable to our Jackups segment. During the nine-month period ended September 30, 2017 and 2016, 24% and 86% of the revenues earned, respectively, were attributable to our Floaters segment and 37% and 5% earned, respectively, were attributable to our Jackups segment.

⁽⁶⁾  Revenue recognized during the nine-month period ended September 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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