XML 48 R32.htm IDEA: XBRL DOCUMENT v3.20.2
Derivative Instruments (Tables)
 9 Months Ended
Sep. 30, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule Of Derivatives At Fair Value Derivatives recorded at fair value on our condensed consolidated balance sheets consisted of the following (in millions):
 Derivative AssetsDerivative Liabilities
December 31,
2019		December 31,
2019
Derivatives Designated as Hedging Instruments  
Foreign currency forward contracts - current(1)
$4.2 $.7 
Foreign currency forward contracts - non-current(2)
.8 — 
 $5.0 $.7 
Derivatives not Designated as Hedging Instruments  
Foreign currency forward contracts - current(1)
$1.3 $.2 
Total$6.3 $.9 
 
(1)Derivative assets and liabilities that had maturity dates equal to or less than 12 months from the respective balance sheet dates were included in other current assets and accrued liabilities and other, respectively, on our condensed consolidated balance sheets.
(2)Derivative assets and liabilities that had maturity dates greater than 12 months from the respective balance sheet dates were included in other assets and other liabilities, respectively, on our condensed consolidated balance sheets.
Gains And Losses On Derivatives Designated As Cash Flow Hedges Gains and losses, net of tax, on derivatives designated as cash flow hedges included in our condensed consolidated statements of operations and comprehensive income (loss) were as follows (in millions):
Three Months Ended September 30, 2020 and 2019
Gain (Loss) Recognized in
Other Comprehensive Loss
("OCI") on Derivatives
(Effective Portion)
(Gain) Loss Reclassified from ("AOCI") into Income (Effective Portion)(1)
2020201920202019
Interest rate lock contracts(2)
$— $— $— $1.7 
Foreign currency forward contracts(3)
$2.7 $(5.7)$(.5)$3.2 
Total$2.7 $(5.7)$(.5)$4.9 
Nine Months Ended September 30, 2020 and 2019
Loss Recognized in Other Comprehensive Loss ("OCI") on Derivatives (Effective Portion)
(Gain) Loss Reclassified from ("AOCI") into Income (Effective Portion)(1)
 2020201920202019
Interest rate lock contracts(2)
$— $— $— $1.8 
Foreign currency forward contracts(4)
(5.4)(7.3)(11.5)6.5 
Total$(5.4)$(7.3)$(11.5)$8.3 

(1)Changes in the fair value of cash flow hedges are recorded in AOCI.  Amounts recorded in AOCI associated with cash flow hedges are subsequently reclassified into contract drilling, depreciation or interest expense as earnings are affected by the underlying hedged forecasted transaction.

(2)Losses on interest rate lock derivatives reclassified from AOCI into income were included in interest expense, net, in our condensed consolidated statements of operations.

(3)During the three months ended September 30, 2020, $0.5 million of gains were reclassified from AOCI into contract drilling expense and no gain or loss were reclassified from AOCI into depreciation expense in our condensed consolidated statement of operations. During the three months ended September 30, 2019, $3.4 million of losses were reclassified from AOCI into contract drilling expense and $0.2 million of gains were reclassified from AOCI into depreciation expense in our condensed consolidated statement of operations.

(4)During the nine months ended September 30, 2020, $2.0 million of losses were reclassified from AOCI into contract drilling expense and $13.5 million of gains were reclassified from AOCI into depreciation expense in our condensed consolidated statement of operations. During the nine months ended September 30, 2019, $7.1 million of losses were reclassified from AOCI into contract drilling expense and $0.6 million of gains were reclassified from AOCI into depreciation expense in our condensed consolidated statement of operations.
We