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Supplemental Financial Information (Tables)

3 Months Ended

Mar. 31, 2020

Supplemental Financial Information [Abstract]

Accounts Receivable, Net

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

	March 31, 2020				December 31, 2019
Trade	$	442.4			$	466.4
Other	60.9				60.3
	503.3				526.7
Allowance for doubtful accounts	(10.1		)		(6.0		)
	$	493.2			$	520.7

Other Current Assets

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

	March 31, 2020				December 31, 2019
Materials and supplies	$	308.9			$	340.1
Prepaid taxes	45.5				36.2
Deferred costs	32.6				23.3
Prepaid expenses	11.4				13.5
Other	29.1				33.4
	$	427.5			$	446.5

Other Assets, Net

Other assets consisted of the following (in millions):

	March 31, 2020				December 31, 2019
Tax receivables	$	61.1			$	36.3
Right-of-use assets	53.9				58.1
Supplemental executive retirement plan assets	21.2				26.0
Deferred tax assets	19.0				26.6
Intangible assets	10.4				11.9
Deferred costs	7.3				7.1
Other	14.1				22.3
	$	187.0			$	188.3

Accrued Liabilities And Other

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

	March 31, 2020				December 31, 2019
Personnel costs	$	126.4			$	134.4
Accrued interest	100.1				115.2
Income and other taxes payable	71.1				61.2
Deferred revenue	24.5				30.0
Settlement of legal dispute	20.3				20.3
Lease liabilities	19.1				21.1
Derivative liabilities	14.1				.9
Other	26.7				34.6
	$	402.3			$	417.7

Other Liabilities

Other liabilities consisted of the following (in millions):

	March 31, 2020				December 31, 2019
Pension and other post-retirement benefits	$	243.1			$	246.7
Unrecognized tax benefits (inclusive of interest and penalties)	233.4				323.1
Intangible liabilities	51.5				52.1
Lease liabilities	48.0				51.8
Deferred tax liabilities	35.2				99.0
Supplemental executive retirement plan liabilities	21.6				26.7
Personnel costs	13.9				24.5
Deferred revenue	8.8				9.7
Other	40.2				33.8
	$	695.7			$	867.4

Accumulated other comprehensive income

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

	March 31, 2020				December 31, 2019
Pension and other post-retirement benefits	$	(21.7	)		$	(21.7	)
Derivative instruments	9.6				22.6
Currency translation adjustment	6.7				7.1
Other	(1.8		)		(1.8		)
	$	(7.2	)		$	6.2

Schedule of Revenue by Major Customers by Reporting Segments

Consolidated revenues by customer for the three-month periods ended March 31, 2020 and 2019 were as follows:

		Three Months Ended March 31,
		2020			2019
Total(1)		16	%		18	%
Saudi Aramco(2)		10	%		13	%
Other		74	%		69	%
		100	%		100	%

⁽¹⁾  During the three months ended March 31, 2020, 89% of revenues provided by Total were attributable to the Floaters segment and the remainder was attributable to the Jackup segment. During the three months ended March 31, 2019, all revenues were attributable to our Floaters segment.

⁽²⁾ 

During the three-month periods ended March 31, 2020 and 2019, all revenues were attributable to our Jackups segment.

Revenue from External Customers by Geographic Areas

Consolidated revenues by region for the three-month periods ended March 31, 2020 and 2019 were as follows:

	Three Months Ended March 31,
	2020				2019
Saudi Arabia(1)	$	83.9			$	53.4
U.S. Gulf of Mexico(2)	78.7				54.7
Angola(3)	61.5				70.6
United Kingdom(4)	52.5				43.4
Australia(5)	26.0				67.3
Other	154.0				116.5
	$	456.6			$	405.9

⁽¹⁾  During the three months ended March 31, 2020, 53% and 47% of the revenues earned in Saudi Arabia were attributable to our Jackups and Other segments, respectively. During the three months ended March 31, 2019, all revenues earned in Saudi Arabia were attributable to our Jackups segment.

⁽²⁾  During the three months ended March 31, 2020, 57% of the revenues earned in the U.S. Gulf of Mexico were attributable to our Floaters segment, 16% were attributable to our Jackups segment, and the remaining revenues were attributable to our managed rigs. During the three months ended March 31, 2019, 25% of the revenues earned in the U.S. Gulf of Mexico were attributable to our Floaters segment, 45% were attributable to our Jackups segment and the remaining revenues were attributable to our managed rigs.

⁽³⁾  During the three-month periods ended March 31, 2020 and 2019, 82% and 86% of the revenue earned in Angola, respectively, were attributable to our Floaters segment, and the remaining revenues were attributable to our Jackups segment.

⁽⁴⁾  During the three-month periods ended March 31, 2020 and 2019, all revenues earned in the United Kingdom were attributable to our Jackups segment.

⁽⁵⁾ 

During the three-month periods ended March 31, 2020 and 2019, 59% and 94% of the revenues earned in Australia, respectively, were attributable to our Floaters segment, and remaining revenues were attributable to our Jackups segment.

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