Supplemental Financial Information

Condensed Consolidated Balance Sheet Information

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



	March 31, 2018			December 31, 2017
Trade	$	303.1		$	335.4
Other	23.9			33.6
	327.0			369.0
Allowance for doubtful accounts	(22.9		)	(23.6		)
	$	304.1		$	345.4

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



	March 31, 2018		December 31, 2017
Inventory	$	281.9	$	278.8
Prepaid taxes	47.3		43.5
Deferred costs	38.8		29.7
Prepaid expenses	14.2		14.2
Derivative asset	7.1		6.8
Assets held-for-sale	5.2		1.5
Other	15.7		6.7
	$	410.2	$	381.2

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



	March 31, 2018		December 31, 2017
Deferred costs	$	30.9	$	37.4
Supplemental executive retirement plan assets	30.1		30.9
Deferred tax assets	28.1		38.8
Intangible assets	14.2		15.7
Other	16.9		17.4
	$	120.2	$	140.2

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



	March 31, 2018		December 31, 2017
Personnel costs	$	95.2	$	112.0
Deferred revenue	78.0		71.9
Accrued interest	75.0		83.1
Taxes	58.2		46.4
Other	15.4		12.5
	$	321.8	$	325.9

Other liabilities consisted of the following (in millions):



	March 31, 2018		December 31, 2017
Unrecognized tax benefits (inclusive of interest and penalties)	$	182.6	$	178.0
Intangible liabilities	59.1		59.6
Deferred revenue	42.1		51.2
Supplemental executive retirement plan liabilities	31.1		32.0
Deferred tax liabilities	18.6		18.5
Personnel costs	18.4		18.1
Deferred rent	15.7		17.1
Other	14.4		12.2
	$	382.0	$	386.7

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



	March 31, 2018			December 31, 2017
Derivative instruments	$	23.0		$	22.5
Currency translation adjustment	7.8			7.8
Other	(1.8		)	(1.7		)
	$	29.0		$	28.6

Concentration of Risk

We are exposed to credit risk related 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 our 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 almost all of 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 5 - Derivative Instruments" for additional information on our derivatives.

Consolidated revenues by customer for the quarters ended March 31, 2018 and 2017 were as follows:



	March 31, 2018		March 31, 2017
Total⁽¹⁾	14	%	22	%
BP ⁽²⁾	12	%	14	%
Petrobras⁽¹⁾	12	%	10	%
Saudi Aramco⁽³⁾	10	%	9	%
Other	52	%	45	%
	100	%	100	%


⁽¹⁾	During the quarters ended March 31, 2018 and 2017, all revenues were attributable to our Floaters segment.


⁽²⁾	During the quarter ended March 31, 2018, 61% of the revenues provided by BP were attributable to our Floaters segment while 10% of the revenues were attributable to our Jackups segment. During the quarter ended March 31, 2017, 79% of the revenues provided by BP were attributable to our Floaters segment.


⁽³⁾	During the quarters ended March 31, 2018 and 2017, all revenues were attributable to our Jackups segment.

Consolidated revenues by region for the quarters ended March 31, 2018 and 2017 were as follows:



	March 31, 2018		March 31, 2017
Angola⁽¹⁾	$	61.1	$	121.7
U.S. Gulf of Mexico⁽²⁾	53.6		44.3
Australia⁽³⁾	52.2		54.6
Brazil⁽⁴⁾	50.3		47.8
United Kingdom⁽⁵⁾	46.6		31.2
Saudi Arabia⁽⁵⁾	43.2		41.3
Egypt⁽⁴⁾	31.0		53.2
Other	79.0		77.0
	$	417.0	$	471.1


⁽¹⁾	During the quarters ended March 31, 2018 and 2017, 98% and 86% of the revenues earned, respectively, were attributable to our Floaters segment. The remaining revenues were attributable to our Jackups segment.


⁽²⁾	During the quarters ended March 31, 2018 and 2017, 38% and 37% of the revenues earned, respectively, were attributable to our Floaters segment and 34% and 30% of revenues earned, respectively, were attributable to our Jackups segment.


⁽³⁾	During the quarters ended March 31, 2018 and 2017, 100% and 78% of the revenues earned, respectively, were attributable to our Floaters segment. The remaining revenues were attributable our Jackups segment.

⁽⁴⁾ During the quarters ended March 31, 2018 and 2017, all revenues were attributable to our Floaters segment.

⁽⁵⁾During the quarters ended March 31, 2018 and 2017, all revenues were attributable to our Jackups segment.