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Segment Information | 12 Months Ended
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Dec. 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 each of the years in the three-year period ended December 31, 2018 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. Year Ended December 31, 2018
| Floaters |  | Jackups |  | Other |  | Operating Segments Total |  | Reconciling Items |  | Consolidated Total
Revenues | $ | 1,013.5 |  |  | $ | 630.9 |  |  | $ | 61.0 |  |  | $ | 1,705.4 |  |  | $ | — |  |  | $ | 1,705.4 |
Operating expenses |  |  |  |  |  |  |  |  |  |  |
Contract drilling (exclusive of depreciation) | 737.4 |  |  | 526.5 |  |  | 55.5 |  |  | 1,319.4 |  |  | — |  |  | 1,319.4 |
Loss on impairment | — |  |  | 40.3 |  |  | — |  |  | 40.3 |  |  | — |  |  | 40.3 |
Depreciation | 311.8 |  |  | 153.3 |  |  | — |  |  | 465.1 |  |  | 13.8 |  |  | 478.9 |
General and administrative | — |  |  | — |  |  | — |  |  | — |  |  | 102.7 |  |  | 102.7 |
Operating income (loss) | $ | (35.7 | ) |  | $ | (89.2 | ) |  | $ | 5.5 |  |  | $ | (119.4 | ) |  | $ | (116.5 | ) |  | $ | (235.9 | )
Property and equipment, net | $ | 9,465.6 |  |  | $ | 3,114.1 |  |  | $ | — |  |  | $ | 12,579.7 |  |  | $ | 36.5 |  |  | $ | 12,616.2 |
Capital expenditures | $ | 105.5 |  |  | $ | 317.7 |  |  | $ | — |  |  | $ | 423.2 |  |  | $ | 3.5 |  |  | $ | 426.7 |
Year Ended December 31, 2017
| Floaters |  | Jackups |  | Other |  | Operating Segments Total |  | Reconciling Items |  | Consolidated Total
Revenues | $ | 1,143.5 |  |  | $ | 640.3 |  |  | $ | 59.2 |  |  | $ | 1,843.0 |  |  | $ | — |  |  | $ | 1,843.0 |
Operating expenses |  |  |  |  |  |  |  |  |  |  |
Contract drilling (exclusive of depreciation) | 624.2 |  |  | 512.1 |  |  | 53.2 |  |  | 1,189.5 |  |  | — |  |  | 1,189.5 |
Loss on impairment | 174.7 |  |  | 8.2 |  |  | — |  |  | 182.9 |  |  | — |  |  | 182.9 |
Depreciation | 297.4 |  |  | 131.5 |  |  | — |  |  | 428.9 |  |  | 15.9 |  |  | 444.8 |
General and administrative | — |  |  | — |  |  | — |  |  | — |  |  | 157.8 |  |  | 157.8 |
Operating income (loss) | $ | 47.2 |  |  | $ | (11.5 | ) |  | $ | 6.0 |  |  | $ | 41.7 |  |  | $ | (173.7 | ) |  | $ | (132.0 | )
Property and equipment, net | $ | 9,650.9 |  |  | $ | 3,177.6 |  |  | $ | — |  |  | $ | 12,828.5 |  |  | $ | 45.2 |  |  | $ | 12,873.7 |
Capital expenditures | $ | 470.3 |  |  | $ | 62.1 |  |  | $ | — |  |  | $ | 532.4 |  |  | $ | 4.3 |  |  | $ | 536.7 |
Year Ended December 31, 2016
| Floaters |  | Jackups |  | Other |  | Operating Segments Total |  | Reconciling Items |  | Consolidated Total
Revenues | $ | 1,771.1 |  |  | $ | 929.5 |  |  | $ | 75.8 |  |  | $ | 2,776.4 |  |  | $ | — |  |  | $ | 2,776.4 |
Operating expenses |  |  |  |  |  |  |  |  |  |  |
Contract drilling (exclusive of depreciation) | 725.0 |  |  | 516.8 |  |  | 59.2 |  |  | 1,301.0 |  |  | — |  |  | 1,301.0 |
Depreciation | 304.1 |  |  | 123.7 |  |  | — |  |  | 427.8 |  |  | 17.5 |  |  | 445.3 |
General and administrative | — |  |  | — |  |  | — |  |  | — |  |  | 100.8 |  |  | 100.8 |
Operating income | $ | 742.0 |  |  | $ | 289.0 |  |  | $ | 16.6 |  |  | $ | 1,047.6 |  |  | $ | (118.3 | ) |  | $ | 929.3 |
Property and equipment, net | $ | 8,300.4 |  |  | $ | 2,561.0 |  |  | $ | — |  |  | $ | 10,861.4 |  |  | $ | 57.9 |  |  | $ | 10,919.3 |
Capital expenditures | $ | 110.3 |  |  | $ | 206.2 |  |  | $ | — |  |  | $ | 316.5 |  |  | $ | 5.7 |  |  | $ | 322.2 |
Information about Geographic Areas As of December 31, 2018, our Floaters segment consisted of 10 drillships, nine dynamically positioned semisubmersible rigs and three moored semisubmersible rigs deployed in various locations. Additionally, our Floaters segment included two ultra-deepwater drillships under construction in South Korea. Our Jackups segment consisted of 35 jackup rigs, of which 34 were deployed in various locations and one was under construction in Singapore. As of December 31, 2018, the geographic distribution of our drilling rigs by operating segment was as follows:
| Floaters |  | Jackups |  | Total
North & South America | 8 |  | 4 |  | 12
Europe & the Mediterranean | 7 |  | 11 |  | 18
Middle East & Africa | 3 |  | 12 |  | 15
Asia & Pacific Rim | 4 |  | 7 |  | 11
Asia & Pacific Rim (under construction) | 2 |  | 1 |  | 3
Total | 24 |  | 35 |  | 59
We provide management services on two rigs owned by third-parties not included in the table above. For purposes of our long-lived asset geographic disclosure, we attribute assets to the geographic location of the drilling rig as of the end of the applicable year. For new construction projects, assets are attributed to the location of future operation if known or to the location of construction if the ultimate location of operation is undetermined. Information by country for those countries that account for more than 10% of our long-lived assets as well as the United Kingdom, our country of domicile, was as follows (in millions):
| Long-lived Assets
| 2018 |  | 2017 |  | 2016
Spain | $ | 2,306.6 |  |  | $ | 2,004.2 |  |  | $ | 2,334.5 |
United States | 2,270.0 |  |  | 2,764.9 |  |  | 2,898.3 |
Nigeria | 1,368.2 |  |  | 583.3 |  |  | — |
United Kingdom | 1,185.2 |  |  | 609.4 |  |  | 409.0 |
Singapore | 23.9 |  |  | 2,859.3 |  |  | 1,388.4 |
Other countries | 5,462.3 |  |  | 4,052.6 |  |  | 3,889.1 |
Total | $ | 12,616.2 |  |  | $ | 12,873.7 |  |  | $ | 10,919.3 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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