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Supplemental Financial Information (Tables)

12 Months Ended

Dec. 31, 2022

Supplemental Financial Information [Abstract]

Accounts Receivable, Net

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

			December 31, 2022						December 31, 2021
Trade			$	345.7					$	296.8
Income tax receivables			93.6						151.1
Other			24.6						12.7
			463.9						460.6
Allowance for doubtful accounts			(14.8)						(16.4)
			$	449.1					$	444.2

Other Current Assets

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

			December 31, 2022						December 31, 2021
Deferred costs			$	59.1					$	26.9
Prepaid taxes			44.6						44.4
Prepaid expenses			17.5						23.1
Other			27.4						23.4
			$	148.6					$	117.8

Schedule of Accrued Liabilities

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

			December 31, 2022						December 31, 2021
Deferred revenue			$	78.0					$	45.8
Personnel costs			55.8						47.3
Income and other taxes payable			41.4						45.7
Accrued claims			27.2						17.3
Lease liabilities			9.4						10.0
Accrued interest			7.6						7.6
Other			28.5						22.5
			$	247.9					$	196.2

Other Liabilities

Other liabilities consisted of the following (in millions):

			December 31, 2022						December 31, 2021
Unrecognized tax benefits (inclusive of interest and penalties)			$	275.0					$	303.4
Pension and other post-retirement benefits			159.8						204.0
Other			80.8						51.0
			$	515.6					$	558.4

Repair And Maintenance Expense Related To Continuing Operations

Repair and maintenance expense related to continuing operations was as follows (in millions):

			Successor															Predecessor
			Year Ended December 31, 2022						Eight Months Ended December 31, 2021									Four Months Ended April 30, 2021						Year Ended December 31, 2020
Repair and maintenance expense			$	175.2					$	76.3								$	48.4					$	200.4

Schedule of Other Nonoperating Income, by Component

Other, net, consisted of the following (in millions):

			Successor															Predecessor
			Year Ended December 31, 2022						Eight Months Ended December 31, 2021									Four Months Ended April 30, 2021						Year Ended December 31, 2020
Net gain on sale of property			$	141.2					$	21.2								$	6.0					$	11.8
Net periodic pension income, excluding service cost			16.4						8.7									5.4						14.6
Net foreign currency exchange gains (losses)			12.2						8.1									13.4						(11.0)
Gain on bargain purchase and measurement period adjustments			—						—									—						(6.3)
Gain on extinguishment of debt			—						—									—						3.1
Other income			0.1						0.1									1.1						3.8
			$	169.9					$	38.1								$	25.9					$	16.0

Schedule of Cash Flows Information

Net cash used in operating activities attributable to the net change in operating assets and liabilities was as follows (in millions):

			Successor															Predecessor
			Year Ended December 31, 2022						Eight Months Ended December 31, 2021									Four Months Ended April 30, 2021						Year Ended December 31, 2020
(Increase) decrease in accounts receivable			$	(6.9)					$	(18.3)								$	23.2					$	53.3
(Increase) decrease in other assets			(104.6)						(48.4)									27.3						(63.8)
Increase (decrease) in liabilities			146.9						71.4									18.0						(11.5)
			$	35.4					$	4.7								$	68.5					$	(22.0)

Cash Paid For Interest And Income Taxes

Additional cash flow information was as follows (in millions):

			Successor															Predecessor
			Year Ended December 31, 2022						Eight Months Ended December 31, 2021									Four Months Ended April 30, 2021						Year Ended December 31, 2020
Cash paid for interest and taxes
Interest paid, net of amounts capitalized			$	44.2					$	22.8								$	—					$	190.0
Income taxes paid (refunded), net			$	5.6					$	23.5								$	(16.9)					$	48.5
Non-cash investing activities
Accruals for capital expenditures as of period end (1)			$	22.1					$	9.3								$	6.5					$	5.4

(1)    Accruals for capital expenditures were excluded from investing activities in our Consolidated Statements of Cash Flows.

Revenue from External Customers by Products and Services

Consolidated revenues with customers that individually contributed 10% or more of revenue were as follows:

			Successor
			Year Ended December 31, 2022																								Eight Months Ended December 31, 2021
			Floaters						Jackups						Other						Total						Floaters						Jackups						Other						Total
BP plc ("BP")			6		%				3		%				6		%				15		%				2		%				2		%				7		%				11		%
Other customers(1)			38		%				43		%				4		%				85		%				29		%				56		%				4		%				89		%
			44		%				46		%				10		%				100		%				31		%				58		%				11		%				100		%

			Predecessor
			Four Months Ended April 30, 2021																								Year Ended December 31, 2020
			Floaters						Jackups						Other						Total						Floaters						Jackups						Other						Total
BP			5		%				2		%				7		%				14		%				3		%				2		%				6		%				11		%
Other customers(1)			24		%				57		%				5		%				86		%				32		%				52		%				5		%				89		%
			29		%				59		%				12		%				100		%				35		%				54		%				11		%				100		%

(1) Other customers includes customers that individually contributed to less than 10% of our total revenues.

Revenue from External Customers by Geographic Areas

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 were as follows (in millions):

			Successor
			Year Ended December 31, 2022																								Eight Months Ended December 31, 2021
			Floaters						Jackups						Other						Total						Floaters						Jackups						Other						Total
U.S. Gulf of Mexico			$	230.9					$	21.3					$	99.0					$	351.2					$	52.8					$	0.7					$	56.4					$	109.9
United Kingdom			—						264.5						—						264.5						—						185.2						—						185.2
Saudi Arabia			—						78.3						58.7						137.0						—						55.3						37.0						92.3
Norway			—						114.6						—						114.6						—						123.9						—						123.9
Mexico			13.9						58.1						—						72.0						37.0						40.8						—						77.8
Other countries(1)			455.7						207.5						—						663.2						164.8						81.1						—						245.9
			$	700.5					$	744.3					$	157.7					$	1,602.5					$	254.6					$	487.0					$	93.4					$	835.0

			Predecessor
			Four Months Ended April 30, 2021																								Year Ended December 31, 2020
			Floaters						Jackups						Other						Total						Floaters						Jackups						Other						Total
U.S. Gulf of Mexico			$	47.9					$	0.2					$	26.3					$	74.4					$	133.4					$	27.0					$	81.0					$	241.4
United Kingdom			—						75.7						—						75.7						—						211.3						—						211.3
Saudi Arabia			—						30.5						23.1						53.6						—						126.9						73.9						200.8
Norway			—						73.3						—						73.3						—						188.5						—						188.5
Mexico			21.6						22.7						—						44.3						60.9						51.2						—						112.1
Other countries(1)			46.1						30.0						—						76.1						311.5						160.4						1.2						473.1
			$	115.6					$	232.4					$	49.4					$	397.4					$	505.8					$	765.3					$	156.1					$	1,427.2

(1)

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