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Subsequent Events
3 Months Ended
Mar. 31, 2015
Subsequent Events  
Subsequent Events

 

Note 18—Subsequent Events

 

Assets held for sale—Subsequent to March 31, 2015, in connection with our strategy to reduce our exposure to lower-specification drilling units, we committed to a plan to sell for scrap value the Ultra-Deepwater Floater GSF Explorer along with related equipment.  As a result, in the three months ending June 30, 2015, we expect to recognize a loss, ranging from $100 million to $120 million, net of tax, associated with the impairment of these assets.  After consideration of the impairment, the remaining aggregate carrying amount of the reclassified rig and related equipment was approximately $5 million to $20 million.