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Property And Equipment (Tables)

12 Months Ended

Dec. 31, 2023

Property, Plant and Equipment [Abstract]

Schedule Of Property And Equipment

Property and equipment consisted of the following (in millions):

						December 31, 2023						December 31, 2022
Drilling rigs and equipment						$	1,312.5					$	1,036.5
Work-in-progress (1)						537.0						59.8
Other						39.5						38.2
						$	1,889.0					$	1,134.5

(1)Work-in-progress as of December 31, 2023 includes the Newbuild Drillships, which were purchased for approximately $337.0 million, and a $13.1 million asset representing the fair value of the corresponding purchase option and embedded put option which was reclassified from Other assets upon purchase of the rigs. In December 2023, when the Company exercised its options to purchase the Newbuild Drillships, the corresponding put options expired and the Shipyard retained the Common shares issued to them in the plan of reorganization. See "Note 3 - Fresh Start Accounting" for additional information about these options.

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- References

No definition available.

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- Definition

Tabular disclosure of physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, balances by class of assets, depreciation and depletion expense and method used, including composite depreciation, and accumulated deprecation.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-SubTopic 10
-Topic 360
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482099/360-10-50-1

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