XML 45 R32.htm IDEA: XBRL DOCUMENT
v3.21.2

Derivative Instruments (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
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 loss were as follows (in millions):
| Gain Recognized in Other Comprehensive Loss ("OCI") on Derivatives (Effective Portion) |  | Gain Reclassified from ("AOCI") into Income (Effective Portion)(1)
| Successor |  | Predecessor |  | Successor |  | Predecessor
| Two Months Ended June 30, 2021 |  | One Month Ended April 30, 2021 | Three Months Ended June 30, 2020 |  | Two Months Ended June 30, 2021 |  | One Month Ended April 30, 2021 | Three Months Ended June 30, 2020
Foreign currency forward contracts(2) | $ | — |  |  | $ | — |  | $ | 4.8 |  |  | $ | — |  |  | $ | — |  | $ | (10.9) |
| Loss Recognized in Other Comprehensive Loss ("OCI") on Derivatives (Effective Portion) |  | Gain Reclassified from ("AOCI") into Income (Effective Portion)(1)
| Successor |  | Predecessor |  | Successor |  | Predecessor
| Two Months Ended June 30, 2021 |  | Four Months Ended April 30, 2021 | Six Months Ended June 30, 2020 |  | Two Months Ended June 30, 2021 |  | Four Months Ended April 30, 2021 | Six Months Ended June 30, 2020
Foreign currency forward contracts(3) | $ | — |  |  | $ | — |  | $ | (8.1) |  |  | $ | — |  |  | $ | (5.6) |  | $ | (11.0) |
(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)During the three months ended June 30, 2020 (Predecessor), $1.6 million of losses were reclassified from AOCI into contract drilling expense and $12.5 million of gains were reclassified from AOCI into depreciation expense in our Condensed Consolidated Statement of Operations. (3)During the four months ended April 30, 2021 (Predecessor), $5.6 million of gains were reclassified from AOCI into impairment expense in our Condensed Consolidated Statement of Operations in connection with the impairment of certain rigs. During the six months ended June 30, 2020 (Predecessor), $2.5 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.

X
- References No definition available. + Details
Name: | us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of gain (loss) on derivative and nonderivative instruments designated and qualifying as cash flow hedge recorded in accumulated other comprehensive income (AOCI) and reclassified into earnings. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5624171-113959 + Details
Name: | us-gaap_ScheduleOfCashFlowHedgesIncludedInAccumulatedOtherComprehensiveIncomeLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration