XML 41 R32.htm IDEA: XBRL DOCUMENT
v3.19.2

Segment Information (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2019
Segment Reporting [Abstract] |
Schedule of Segment Information | Segment results are presented below (in millions):
| Three months ended March 31,
| Deepwater |  | Jack-ups |  | ARO |  | Unallocated and other |  | Reportable segments total |  | Eliminations and adjustments |  | Consolidated
2019 |  |  |  |  |  |  |  |  |  |  |  |  |
Revenue | $ | 33.6 |  |  | $ | 138.0 |  |  | $ | 136.0 |  |  | $ | 4.9 |  |  | $ | 312.5 |  |  | $ | (136.0 | ) |  | $ | 176.5 |
Operating expenses: |  |  |  |  |  |  |  |  |  |  |  |  |
Direct operating costs (excluding items below) | 52.1 |  |  | 109.7 |  |  | 85.1 |  |  | — |  |  | 246.9 |  |  | (85.1 | ) |  | 161.8 |
Depreciation and amortization | 27.0 |  |  | 65.1 |  |  | 13.4 |  |  | 0.6 |  |  | 106.1 |  |  | (13.4 | ) |  | 92.7 |
Selling, general and administrative | — |  |  | — |  |  | 5.2 |  |  | 21.1 |  |  | 26.3 |  |  | (5.2 | ) |  | 21.1 |
Other operating items - expense | — |  |  | 0.3 |  |  | 0.6 |  |  | — |  |  | 0.9 |  |  | (0.6 | ) |  | 0.3 |
Merger and related costs | — |  |  | — |  |  | — |  |  | 3.5 |  |  | 3.5 |  |  | — |  |  | 3.5 |
Equity in earnings of unconsolidated subsidiary | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 7.1 |  |  | 7.1 |
Income (loss) from operations | $ | (45.5 | ) |  | $ | (37.1 | ) |  | $ | 31.7 |  |  | $ | (20.3 | ) |  | $ | (71.2 | ) |  | $ | (24.6 | ) |  | $ | (95.8 | )
2018 |
Revenue | $ | 52.1 |  |  | $ | 150.1 |  |  | $ | 58.3 |  |  | $ | 9.0 |  |  | $ | 269.5 |  |  | $ | (58.3 | ) |  | $ | 211.2 |
Operating expenses: |  |  |  |  |  |  |  |  |  |  |  |  |
Direct operating costs (excluding items below) | 29.0 |  |  | 128.4 |  |  | 33.4 |  |  | — |  |  | 190.8 |  |  | (33.4 | ) |  | 157.4 |
Depreciation and amortization | 26.9 |  |  | 70.3 |  |  | 16.6 |  |  | 0.7 |  |  | 114.5 |  |  | (16.6 | ) |  | 97.9 |
Selling, general and administrative | — |  |  | — |  |  | 6.4 |  |  | 25.6 |  |  | 32.0 |  |  | (6.4 | ) |  | 25.6 |
Other operating items - expense | — |  |  | 1.3 |  |  | 0.1 |  |  | — |  |  | 1.4 |  |  | (0.1 | ) |  | 1.3 |
Equity in losses of unconsolidated subsidiary | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (1.3 | ) |  | (1.3 | )
Income (loss) from operations | $ | (3.8 | ) |  | $ | (49.9 | ) |  | $ | 1.8 |  |  | $ | (17.3 | ) |  | $ | (69.2 | ) |  | $ | (3.1 | ) |  | $ | (72.3 | )
Revenue from External Customers by Products and Services [Table Text Block] | The classifications of revenue among geographic areas in the tables which follow (in millions) were determined based on segment and physical location of assets. Because the Company evaluates performance primarily based on income from operations and the Company’s offshore drilling rigs are mobile, classifications by area are dependent on the rigs’ location at the time revenue is earned and may vary from one period to the next.
| Three months ended March 31,
| 2019 |  | 2018
Deepwater Revenue: |  |  |
United States | $ | 24.1 |  |  | $ | 52.1 |
Mexico | 9.5 |  |  | — |
Total | $ | 33.6 |  |  | $ | 52.1 |
| Three months ended March 31,
| 2019 |  | 2018
Jack-ups Revenue: |  |  |
Saudi Arabia | $ | 42.3 |  |  | $ | 87.9 |
Trinidad | 33.0 |  |  | 11.6 |
United Kingdom | 18.0 |  |  | 10.4 |
Norway | 17.4 |  |  | 38.8 |
United States | 14.0 |  |  | 1.4 |
Turkey | 13.3 |  |  | — |
Total | $ | 138.0 |  |  | $ | 150.1 |
| Three months ended March 31,
| 2019 |  | 2018
Unallocated and Other Revenue: |  |  |
Saudi Arabia | $ | 4.9 |  |  | $ | 9.0 |
Total | $ | 4.9 |  |  | $ | 9.0 |

X
- Definition Tabular disclosure of entity-wide revenues from external customers for each product or service or each group of similar products or services if the information is not provided as part of the reportable operating segment information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e9031-108599 + Details
Name: | us-gaap_ScheduleOfEntityWideInformationRevenueFromExternalCustomersByProductsAndServicesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8736-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8813-108599 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=108376223&loc=d3e13816-109267 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8721-108599 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8906-108599 + Details
Name: | us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration