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Segment Information
 3 Months Ended
Mar. 31, 2018
Segment Reporting Information, Revenue for Reportable Segment [Abstract]  
Segment Information
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 quarters ended March 31, 2018 and 2017 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 were included in "Reconciling Items." We measure segment assets as property and equipment.

Three Months Ended March 31, 2018
 
Floaters
 
Jackups
 
Other
 
Operating Segments Total
 
Reconciling Items
 
Consolidated Total
Revenues
$
259.0

 
$
143.4

 
$
14.6

 
$
417.0

 
$
—

 
$
417.0

Operating expenses
 
 
 
 
 
 
 
 
 
 
 
Contract drilling (exclusive of depreciation)
185.1

 
126.9

 
13.2

 
325.2

 
—

 
325.2

Depreciation
75.3

 
36.5

 
—

 
111.8

 
3.4

 
115.2

General and administrative
—

 
—

 
—

 
—

 
27.9

 
27.9

Operating income (loss)
$
(1.4
)
 
$
(20.0
)
 
$
1.4

 
$
(20.0
)
 
$
(31.3
)
 
$
(51.3
)
Property and equipment, net
$
9,636.9

 
$
3,154.3

 
$
—

 
$
12,791.2

 
$
43.6

 
$
12,834.8


Three Months Ended March 31, 2017
 
Floaters
 
Jackups
 
Other
 
Operating Segments Total
 
Reconciling Items
 
Consolidated Total
Revenues
$
284.8

 
$
171.8

 
$
14.5

 
$
471.1

 
$
—

 
$
471.1

Operating expenses
 
 
 
 
 
 
 
 
 
 
 
Contract drilling (exclusive of depreciation)
146.4

 
118.6

 
13.1

 
278.1

 
—

 
278.1

Depreciation
72.8

 
32.1

 
—

 
104.9

 
4.3

 
109.2

General and administrative
—

 
—

 
—

 
—

 
26.0

 
26.0

Operating income
$
65.6

 
$
21.1

 
$
1.4

 
$
88.1

 
$
(30.3
)
 
$
57.8

Property and equipment, net
$
8,534.3

 
$
2,532.4

 
$
—

 
$
11,066.7

 
$
54.0

 
$
11,120.7


Information about Geographic Areas    

As of March 31, 2018, the geographic distribution of our drilling rigs by reportable segment was as follows:
 
Floaters
 
Jackups
 
Total(1)
North & South America
9
 
4
 
13
Europe & Mediterranean
6
 
12
 
18
Middle East & Africa
3
 
11
 
14
Asia & Pacific Rim
5
 
8
 
13
Asia & Pacific Rim (under construction)
2
 
1
 
3
Held-for-Sale(2)
2
 
2
 
4
Total
27
 
38
 
65


(1) 
We provide management services on two rigs owned by third-parties in the U.S. Gulf of Mexico which are not included in the table above.
(2) 
Both jackups and one floater classified as held-for-sale as of March 31, 2018 were sold in April 2018.