

	September 30, 2022		December 31, 2021
Trade	$	379.3	$	296.8
Income tax receivable	148.4		151.1
Other	25.0		12.7
	552.7		460.6
Allowance for doubtful accounts	(17.2)		(16.4)
	$	535.5	$	444.2



	September 30, 2022		December 31, 2021
Tax receivables	$	60.8	$	64.8
Deferred tax assets	51.3		59.7
Right-of-use assets	23.7		20.5


Other	39.7		31.0
	$	175.5	$	176.0



	September 30, 2022		December 31, 2021
Deferred revenue	$	84.8	$	45.8
Income and other taxes payable	51.0		45.7
Personnel costs	48.3		47.3

Accrued claims	23.9		17.3
Accrued interest	18.9		7.6
Lease liabilities	9.7		10.0

Other	25.9		22.5
	$	262.5	$	196.2



	September 30, 2022		December 31, 2021
Unrecognized tax benefits (inclusive of interest and penalties)	$	271.0	$	320.2
Pension and other post-retirement benefits	189.8		204.0








Other	79.0		56.9
	$	539.8	$	581.1



	September 30, 2022		December 31, 2021
Pension and other post-retirement benefits	$	(9.2)	$	(9.1)
Currency translation adjustment	0.1		—


	$	(9.1)	$	(9.1)


	Three Months Ended September 30,
	2022		2021
Net foreign currency exchange gains	$	9.8	$	1.7
Net periodic pension income	4.0		3.7

Net gain on sale of property	0.1		0.3
Other income (expense)	0.2		(0.2)
	$	14.1	$	5.5


	Successor				Predecessor
	Nine Months Ended September 30, 2022		Five Months Ended September 30, 2021		Four Months Ended April 30, 2021
Net gain on sale of property	$	137.7	$	0.2	$	6.0
Net foreign currency exchange gains	25.2		4.8		13.4
Net periodic pension income	12.1		6.1		5.4

Other income (expense)	(0.2)		—		1.1
	$	174.8	$	11.1	$	25.9

Our restricted cash of $18.2 million and $35.9 million at September 30, 2022 and December 31, 2021, respectively, consists primarily of $15.7 million and $31.1 million of collateral on letters of credit for each respective period. See "Note 11 - Contingencies" for more information regarding our letters of credit.

We are exposed to credit risk relating to our receivables from customers, our cash and cash equivalents and short-term investments. We mitigate our credit risk relating to receivables from customers, which consist primarily of major international, government-owned and independent oil and gas companies, by performing ongoing credit evaluations. We also maintain reserves for potential credit losses, which generally have been within our expectations. We mitigate our credit risk relating to cash and investments by focusing on diversification and quality of instruments.


	Three Months Ended September 30,
	2022		2021
BP plc ("BP")(1)	14	%	9	%
Equinor ASA ("Equinor")(2)	6	%	6	%
TotalEnergies SE ("Total")(3)	4	%	14	%


Other	76	%	71	%
	100	%	100	%


	Successor				Predecessor
	Nine Months Ended September 30, 2022		Five Months Ended September 30, 2021		Four Months Ended April 30, 2021
BP(1)	14	%	9	%	14	%
Equinor(2)	10	%	6	%	6	%
Total(3)	5	%	9	%	—	%


Other	71	%	76	%	80	%
	100	%	100	%	100	%

(1)During the three months ended September 30, 2022 (Successor), 34% of the revenues provided by BP were attributable to our Floaters segment, 25% of the revenues were attributable to our Jackups segment and the remaining were attributable to our managed rigs.

During the nine months ended September 30, 2022 (Successor), 37% of the revenues provided by BP were attributable to our Floaters segment, 19% of the revenues were attributable to our Jackups segment and the remaining were attributable to our managed rigs.

During the three months ended September 30, 2021 (Successor), 24% of the revenues provided by BP were attributable to our Jackups segment, 3% of the revenues were attributable to our Floaters segment, and the remaining were attributable to our managed rigs. During the five months ended September 30, 2021 (Successor), 24% of the revenues were attributable to our Jackups segment, 2% of the revenues were attributable to our Floaters segment and the remaining were attributable to our managed rigs. During the four months ended April 30, 2021 (Predecessor), 37% of the revenue provided by BP were attributable to our Floaters segment, 17% of the revenue were attributable to our Jackups segment and the remaining were attributable to our managed rigs.

During the nine months ended September 30, 2022 (Successor), 55% of the revenues provided by Equinor were attributable to our Jackups segment and 45% of the revenues were attributable to our Floaters segment.

During the three and five months ended September 30, 2021 (Successor) and four months ended April 30, 2021 (Predecessor), all revenues provided by Equinor were attributable to our Jackups segment.

(3)During the three and nine months ended September 30, 2022 (Successor) and three and five months ended September 30, 2021 (Successor), all revenues provided by Total were attributable to our Floaters segment.

For purposes of our geographic disclosure, we attribute revenues to the geographic location where such revenues are earned. Consolidated revenues for locations that individually had 10% or more of revenue are as follows (in millions):


	Three Months Ended September 30,
	2022		2021
U.S. Gulf of Mexico(1)	$	95.2	$	40.2
United Kingdom(2)	71.4		69.9
Australia(3)	51.8		33.4
Norway(2)	38.6		49.4
Saudi Arabia(4)	30.9		33.5
Mexico(5)	10.7		33.4

Other	138.6		66.9
	$	437.2	$	326.7


	Successor				Predecessor
	Nine Months Ended September 30, 2022		Five Months Ended September 30, 2021		Four Months Ended April 30, 2021
U.S. Gulf of Mexico(1)	$	271.6	$	71.1	$	74.4
United Kingdom(2)	200.1		111.0		75.7
Australia(3)	90.9		51.2		1.0
Norway(2)	91.0		89.9		73.3
Saudi Arabia(4)	104.1		58.7		53.6
Mexico(5)	53.4		52.3		44.3

Other	357.8		95.3		75.1
	$	1,168.9	$	529.5	$	397.4

(1)During the three months ended September 30, 2022 (Successor), 65% and 8% of the revenues earned in U.S. Gulf of Mexico were attributable to our Floaters segment and Jackups segment, respectively. The remaining revenues were attributable to our managed rigs.

During the nine months ended September 30, 2022 (Successor), 66% and 7% of the revenues earned in U.S. Gulf of Mexico were attributable to our Floaters segment and Jackups segment, respectively. The remaining revenues were primarily attributable to our managed rigs.

During the three and five months ended September 30, 2021 (Successor), 46% and 50% of the revenues earned in U.S. Gulf of Mexico were attributable to our Floaters segment respectively. The remaining revenues were attributable to our managed rigs. During the four months ended April 30, 2021 (Predecessor) 64% of the revenues earned in U.S. Gulf of Mexico were attributable to our Floaters segment. The remaining revenues were attributable to our managed rigs.

(2)During the three and nine months ended September 30, 2022 (Successor), five months ended September 30, 2021 (Successor) and four months ended April 30, 2021 (Predecessor), all revenues earned in the United Kingdom and Norway were attributable to our Jackups segment.

(3)During the three and nine months ended September 30, 2022 (Successor), 78% and 80%, respectively, of the revenues earned in Australia were attributable to our Floaters segment and the remaining revenues were attributable to our Jackups segment.

During the three and five months ended September 30, 2021 (Successor), 64% and 62%, respectively, of the revenues earned in Australia were attributable to our Floaters segment and the remaining were attributable to Jackups segment. During the four months ended April 30, 2021 (Predecessor), 77% of the revenues earned in Australia were attributable to our Floaters segment, and the remaining revenues earned in Australia were attributable to our Jackups segment.

(4)During the three and nine months ended September 30, 2022 (Successor), 54% and 58%, respectively, of the revenues earned in Saudi Arabia were attributable to our Jackups segment. The remaining revenues were attributable to our Other segment and relates primarily to our rigs leased to ARO.

During the three and five months ended September 30, 2021 (Successor), 56% and 57%, respectively, of the revenues earned in Saudi Arabia were attributable to our Jackups segment. During the four months ended April 30, 2021 (Predecessor) 57% of the revenues earned in Saudi Arabia were attributable to our Jackups segment. The remaining revenues were attributable to our Other segment and relates to our rigs leased to ARO and certain revenues related to our Secondment Agreement.

(5)During the three months ended September 30, 2022 (Successor), all revenues earned in Mexico were attributable to our Jackups segment. During the nine months ended September 30, 2022 (Successor), 91% of the revenues earned in Mexico were attributable to our Jackups segment, and the remaining revenues were attributable to our Floaters segment.

During the three and five months ended September 30, 2021 (Successor), 52% and 54%, respectively, of the revenues earned in Mexico were attributable to our Jackups segment and the remaining revenues were attributable to our Floaters segment. During the four months ended April 30, 2021 (Predecessor), 51% of the revenues earned in Mexico were attributable to our Jackups segment and the remaining revenues were attributable to our Floaters segment.