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Supplemental Financial Information (Tables)

3 Months Ended

9 Months Ended

Sep. 30, 2024

Sep. 30, 2024

Supplemental Financial Information [Abstract]

Accounts Receivable, Net

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

			September 30, 2024						December 31, 2023
Trade			$	511.9					$	375.2
Income tax receivables			49.6						83.2
Other			10.7						16.2
			572.2						474.6
Allowance for doubtful accounts			(16.4)						(15.3)
			$	555.8					$	459.3

Other Current Assets

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

			September 30, 2024						December 31, 2023
Prepaid taxes			$	60.3					$	49.1
Deferred costs			45.0						75.3
Prepaid expenses			22.0						23.6
Other			36.2						29.2
			$	163.5					$	177.2

Schedule of Accrued Liabilities

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

			September 30, 2024						December 31, 2023
Current contract liabilities (deferred revenues)			$	107.6					$	116.2
Personnel costs			92.7						76.6
Income and other taxes payable			66.2						52.9
Accrued interest			38.4						15.4
Lease liabilities			28.0						27.2
Accrued claims			14.8						20.4
Other			40.9						35.5
			$	388.6					$	344.2

Other Liabilities

Other liabilities consisted of the following (in millions):

			September 30, 2024						December 31, 2023
Unrecognized tax benefits (inclusive of interest and penalties)			$	149.9					$	224.0
Pension and other post-retirement benefits			121.3						141.6
Lease liabilities			62.0						48.9
Noncurrent contract liabilities (deferred revenues)			49.0						37.6
Other			22.2						19.6
			$	404.4					$	471.7

Schedule of Other Nonoperating Income, by Component

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

			Three Months Ended September 30,												Nine Months Ended September 30,
			2024						2023						2024						2023
Net foreign currency exchange gains (losses)			$	(3.5)					$	3.6					$	4.4					$	3.4
Net periodic pension and retiree medical income			0.6						0.1						2.0						0.3
Net gain (loss) on sale of property			(0.2)						—						(0.3)						27.9
Loss on extinguishment of debt			—						—						—						(29.2)
Other income			0.3						0.2						0.4						1.3
			$	(2.8)					$	3.9					$	6.5					$	3.7

Schedule of Revenue by Major Customers by Reporting Segments

Consolidated revenues with customers that individually contributed 10% or more of revenue in either of the three and nine months ended September 30, 2024 and 2023 were as follows:

			Three Months Ended September 30, 2024																								Three Months Ended September 30, 2023
			Floaters						Jackups						Other						Total						Floaters						Jackups						Other						Total
BP plc ("BP")			12		%				2		%				5		%				19		%				—		%				5		%				6		%				11		%
Equinor ASA ("Equinor")			9		%				—		%				—		%				9		%				3		%				—		%				—		%				3		%
Eni S.p.A ("Eni")			1		%				6		%				—		%				7		%				1		%				4		%				—		%				5		%
Other customers (1)			38		%				25		%				2		%				65		%				49		%				28		%				4		%				81		%
			60		%				33		%				7		%				100		%				53		%				37		%				10		%				100		%

			Nine Months Ended September 30, 2024																								Nine Months Ended September 30, 2023
			Floaters						Jackups						Other						Total						Floaters						Jackups						Other						Total
BP			9		%				4		%				5		%				18		%				1		%				5		%				6		%				12		%
Equinor			10		%				—		%				—		%				10		%				1		%				—		%				—		%				1		%
Eni			1		%				5		%				—		%				6		%				5		%				6		%				—		%				11		%
Other customers (1)			42		%				22		%				2		%				66		%				46		%				26		%				4		%				76		%
			62		%				31		%				7		%				100		%				53		%				37		%				10		%				100		%

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

Revenue from External Customers by Geographic Areas

Consolidated revenues for locations that individually had 10% or more of revenue were as follows (in millions):

			Three Months Ended September 30, 2024																								Three Months Ended September 30, 2023
			Floaters						Jackups						Other						Total						Floaters						Jackups						Other						Total
Brazil			$	151.4					$	—					$	—					$	151.4					$	46.4					$	—					$	—					$	46.4
United Kingdom			—						105.3						—						105.3						—						71.0						—						71.0
U.S. Gulf of Mexico			66.0						0.2						29.8						96.0						65.3						8.5						26.2						100.0
Australia			42.4						46.5						—						88.9						40.2						6.8						—						47.0
Angola			68.7						—						—						68.7						62.8						—						—						62.8
Other countries (1)			60.5						61.7						10.6						132.8						28.6						79.6						19.7						127.9
			$	389.0					$	213.7					$	40.4					$	643.1					$	243.3					$	165.9					$	45.9					$	455.1

			Nine Months Ended September 30, 2024																								Nine Months Ended September 30, 2023
			Floaters						Jackups						Other						Total						Floaters						Jackups						Other						Total
Brazil			$	380.5					$	—					$	—					$	380.5					$	117.4					$	—					$	—					$	117.4
U.S. Gulf of Mexico			178.9						10.3						84.5						273.7						152.3						22.5						78.5						253.3
United Kingdom			—						273.1						—						273.1						—						192.6						—						192.6
Australia			128.4						67.4						—						195.8						118.0						30.3						—						148.3
Angola			141.3						—						—						141.3						160.1						—						—						160.1
Other countries (1)			268.2						201.0						44.6						513.8						137.7						234.9						56.1						428.7
			$	1,097.3					$	551.8					$	129.1					$	1,778.2					$	685.5					$	480.3					$	134.6					$	1,300.4

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

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