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Rowan Transaction (Tables)
 12 Months Ended
Dec. 31, 2020
Business Combinations [Abstract]  
Schedule of Provisional Amounts for Assets Acquired and Liabilities Assumed
The provisional amounts recorded for assets and liabilities acquired were based on preliminary estimates of their fair values as of the Transaction Date and Measurement Period Adjustments were recorded throughout the measurement period as provisional amounts were finalized and are as follows (in millions):
Amounts Recognized as of Transaction Date
Measurement Period Adjustments (1)
Estimated Fair Value
Assets:
Cash and cash equivalents$931.9 $— $931.9 
Accounts receivable(2)
207.1 (6.9)200.2 
Other current assets101.6 (2.6)99.0 
Long-term notes receivable from ARO454.5 — 454.5 
Investment in ARO138.8 2.5 141.3 
Property and equipment2,989.8 (26.0)2,963.8 
Other assets41.7 1.1 42.8 
Liabilities:
Accounts payable and accrued liabilities259.4 15.7 275.1 
Current portion of long-term debt203.2 — 203.2 
Long-term debt1,910.9 — 1,910.9 
Other liabilities376.3 34.5 410.8 
Net assets acquired2,115.6 (82.1)2,033.5 
Less: Merger consideration(1,402.8)— (1,402.8)
Bargain purchase gain$712.8 $(82.1)$630.7 

(1) The measurement period adjustments reflect changes in the estimated fair values of certain assets and liabilities, primarily related to long-lived assets, deferred income taxes and uncertain tax positions. The measurement period adjustments were recorded to reflect new information obtained about facts and circumstances existing as of the Transaction Date and did not result from subsequent intervening events. The adjustments recorded resulted in a $6.3 million and $75.8 million decline to bargain purchase gain during the first quarter of 2020 and for the year ended December 31, 2019. The bargain purchase gain adjustments are included in other, net, in our consolidated statements of operations for the year ended December 31, 2020 and 2019, respectively.

(2) Gross contractual amounts receivable totaled $208.3 million as of the Transaction Date.
Business Acquisition, Pro Forma Information The pro forma results do not include any potential synergies or non-recurring charges that may result directly from the Rowan Transaction.
(unaudited)
(in millions, except per share amounts)
Twelve Months Ended
December 31, 2019(1)
Revenues$2,240.5 
Net loss$(997.8)
Earnings per share - basic and diluted$(3.82)

(1)    Pro forma net loss and loss per share were adjusted to exclude an aggregate $108.1 million of transaction related and integration costs during the year ended December 31, 2019. Additionally, pro forma net loss and loss per share exclude the measurement period adjustments and estimated gain on bargain purchase of $637.0 million recognized during the year ended December 31, 2019.