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Consolidated Statements Of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
OPERATING ACTIVITIES      
Net loss $ (192.2) $ (636.6) $ (304.2)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities of continuing operations:      
Bargain purchase gain (637.0) (1.8) (140.2)
Depreciation expense 609.7 478.9 444.8
(Gain) loss on debt extinguishment (194.1) 19.0 2.6
Loss on impairment 104.0 40.3 182.9
Share-based compensation expense 37.3 29.9 34.2
Amortization, net (16.8) (40.2) (61.6)
Equity in earnings of ARO 12.6 0.0 0.0
Deferred income tax expense 23.9 56.6 55.0
Other 16.8 4.5 (26.5)
Changes in operating assets and liabilities, net of acquisition (27.9) (6.3) 72.4
Contributions to pension plans and other post-retirement benefits (13.2) 0.0 0.0
Net cash provided by operating activities of continuing operations (276.9) (55.7) 259.4
INVESTING ACTIVITIES      
Acquisition of Rowan, net of cash acquired 931.9 0.0 0.0
Maturities of short-term investments 474.0 1,030.0 2,042.5
Purchases of short-term investments (145.0) (919.0) (1,040.0)
Additions to property and equipment (227.0) (426.7) (536.7)
Net proceeds from disposition of assets 17.7 11.0 2.8
Acquisition of Atwood, net of cash acquired 0.0 0.0 (871.6)
Net cash used in investing activities of continuing operations 1,051.6 (304.7) (403.0)
FINANCING ACTIVITIES      
Reduction of long-term borrowings (928.1) (771.2) (537.0)
Borrowings on credit facility 215.0 0.0 0.0
Repayments of credit facility borrowings (215.0) 0.0 0.0
Debt solicitation fees (9.5) 0.0 0.0
Cash dividends paid (4.5) (17.9) (13.8)
Proceeds from issuance of senior notes 0.0 1,000.0 0.0
Debt issuance costs 0.0 (17.0) (12.0)
Other (10.2) (5.7) (7.7)
Net cash provided by (used in) financing activities (952.3) 188.2 (570.5)
Net cash provided by (used in) discontinued operations 0.0 2.5 (0.8)
Effect of exchange rate changes on cash and cash equivalents (0.3) (0.6) 0.6
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (177.9) (170.3) (714.3)
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR 275.1 445.4 1,159.7
CASH AND CASH EQUIVALENTS, END OF YEAR $ 97.2 $ 275.1 $ 445.4