v2.4.0.8

Significant Accounting Policies (Details) (USD $) In Millions, except Per Share data, unless otherwise specified | 12 Months Ended
--- | ---
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011
Share-based compensation expense |  |  |
Number of trading days considered for calculation of average stock price | 30 days |  |
Share-based compensation expense | $ 113 | $ 97 | $ 95
Income tax benefit on share-based compensation expense | 17 | 12 | 16
Capitalized interest |  |  |
Capitalized interest costs on construction work in progress | 78 | 54 | 39
Foreign currency |  |  |
Net foreign currency exchange losses | 11 | 27 | 99
Cash and cash equivalents |  |  |
Restricted cash investments | 624 | 861 |
Restricted cash investments classified in other current assets | 159 | 195 |
Restricted cash investments classified in other assets | 465 | 666 |
Accounts receivable |  |  |
Allowance for doubtful accounts | 14 | 20 |
Materials and supplies |  |  |
Allowance for obsolescence on materials and supplies | 80 | 66 |
Assets held for sale |  |  |
Assets held for sale, included in current assets | 148 | 179 |
Property and equipment |  |  |
Property and equipment as a percentage of total assets | 67.00% |  |
Depreciation | (1,109) | (1,123) | (1,109)
Earnings (loss) from continuing operations | $ 3.87 | $ 2.27 | $ (18.14)
Drilling rig units |  |  |
Property and equipment |  |  |
Number of rigs for which useful life was adjusted | 5 | 3 | 2
Drilling rig units | Service life |  |  |
Property and equipment |  |  |
Depreciation expense, tax effect | 0 | 0 | 0
Depreciation | $ 3 | $ 27 | $ 2
Earnings (loss) from continuing operations | $ 0.01 | $ 0.08 | $ 0.01
Drilling rig units | Minimum |  |  |
Property and equipment |  |  |
Estimated original useful life | 18 years |  |
Estimated useful life before adjustment | 29 years | 29 years | 20 years
Estimated useful life after adjustment | 35 years | 35 years | 23 years
Drilling rig units | Maximum |  |  |
Property and equipment |  |  |
Estimated original useful life | 35 years |  |
Estimated useful life before adjustment | 40 years | 30 years | 30 years
Estimated useful life after adjustment | 44 years | 38 years | 38 years
Buildings and improvements | Minimum |  |  |
Property and equipment |  |  |
Estimated original useful life | 10 years |  |
Buildings and improvements | Maximum |  |  |
Property and equipment |  |  |
Estimated original useful life | 30 years |  |
Machinery and equipment | Minimum |  |  |
Property and equipment |  |  |
Estimated original useful life | 4 years |  |
Machinery and equipment | Maximum |  |  |
Property and equipment |  |  |
Estimated original useful life | 12 years |  |

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