Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2019

Assets and Liabilities Measured at Fair Value on a Recurring Basis [Table Text Block]

Assets measured at fair value on a recurring basis are presented below (in millions):



			Estimated fair value measurements
	Fair value		Quoted prices in active markets (Level 1)		Significant other observable inputs (Level 2)		Significant other unobservable inputs (Level 3)
March 31, 2019:
Assets - cash equivalents	$	896.7	$	896.7	$	—	$	—
Other assets (Egyptian Pounds)	1.0		1.0		—		—
Other assets (Angolan Kwanza)	1.9		1.9		—		—

December 31, 2018:
Assets - cash equivalents	$	990.5	$	990.5	$	—	$	—
Other assets (Egyptian Pounds)	0.7		0.7		—		—
Other assets (Angolan Kwanza)	1.7		1.7		—		—

Fair Value, Concentration of Risk [Table Text Block]

Revenue and receivables from transactions with external customers that amount to 10% or more of revenue during the three months ended March 31 are set forth below:

Percentage of revenue from major customers:



		Three months ended March 31,
Customer	Segment	2019		2018
ARO Drilling ⁽¹⁾	Jack-ups and Unallocated and other	27	%	11	%
BP Trinidad and Tobago	Jack-ups	12	%	5	%
Saudi Aramco	Jack-ups	—	%	35	%
Anadarko	Deepwater	—	%	24	%
Lundin	Jack-ups	—	%	10	%
⁽¹⁾ Includes revenue related to services provided to ARO (see Note 4).

Percentage of receivables from major customers:



Customer	Segment	March 31, 2019		December 31, 2018
ARO Drilling ⁽¹⁾	Jack-ups and Unallocated and other	27	%	30	%
BP Trinidad and Tobago	Jack-ups	8	%	9	%
Saudi Aramco	Jack-ups	21	%	21	%
Anadarko	Deepwater	—	%	—	%
Lundin	Jack-ups	—	%	—	%

⁽¹⁾ Includes receivables related to services provided to ARO (see Note 4).

- Definition

Tabular disclosure of all significant concentrations of risk, including credit risk and market risk, arising from all financial instruments (as defined), whether from an individual counterparty or groups of counterparties. The disclosure concerning concentrations of risk may consist of the following information: (1) for concentrations of credit risk disclosure may include: (a) information about the (shared) activity, region, or economic characteristic that identifies the concentration, (b) the maximum amount of loss due to credit risk that, based on the gross fair value of the financial instrument, the entity would incur if parties to the financial instruments that make up the concentration failed completely to perform according to the terms of the contracts and the collateral or other security, if any, for the amount due proved to be of no value to the entity, (c) the policy of requiring collateral or other security to support financial instruments subject to credit risk, information about the entity's access to that collateral or other security, and the nature and a brief description of the collateral or other security supporting those financial instruments, and (d) the policy of entering into master netting arrangements to mitigate the credit risk of financial instruments, information about the arrangements for which the entity is a party, and a brief description of the terms of those arrangements, including the extent to which they would reduce the entity's maximum amount of loss due to credit risk and (2) for disclosure of quantitative information about the market risks of financial instruments that is consistent with the way the company manages or adjusts those risks, disclosure may include: (a) more details about current positions and perhaps activity during the period, (b) the hypothetical effects on comprehensive income (or net assets), or annual income, of several possible changes in market prices, (c) a gap analysis of interest rate re-pricing or maturity dates, (d) the duration of the financial instruments, (e) the entity's value at risk from derivatives and from other positions at the end of the reporting period and the average value at risk during the year, or (f) other ways of reporting quantitative information as internally developed.

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