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Drilling Fleet | 9 Months Ended
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Sep. 30, 2016
Drilling Fleet |
Drilling Fleet | Note 8—Drilling Fleet Construction work in progress—For the nine months ended September 30, 2016 and 2015, the changes in our construction work in progress, including capital expenditures and other capital additions, were as follows (in millions):
|  | Nine months ended |
|  | September 30, |
|  | 2016 |  | 2015 |
Construction work in progress, at beginning of period |  | $ | 3,736 |  | $ | 2,451 |
Capital expenditures |  |  |  |  |  |  |
Newbuild construction program |  |  | 959 |  |  | 1,054 |
Other equipment and construction projects |  |  | 113 |  |  | 282 |
Total capital expenditures |  |  | 1,072 |  |  | 1,336 |
Changes in accrued capital additions |  |  | (90) |  |  | (57) |
Impairment of construction work in progress |  |  | — |  |  | (52) |
Property and equipment placed into service |  |  |  |  |  |  |
Newbuild construction program |  |  | (1,672) |  |  | — |
Other property and equipment |  |  | (203) |  |  | (398) |
Construction work in progress, at end of period |  | $ | 2,843 |  | $ | 3,280 |
Dispositions—During the nine months ended September 30, 2016, in connection with our efforts to dispose of non‑strategic assets, we completed the sale of the deepwater floater Deepwater Navigator and the midwater floaters Falcon 100, GSF Grand Banks, GSF Rig 135, Sedneth 701 and Transocean John Shaw, along with related equipment. In the nine months ended September 30, 2016, we received aggregate net cash proceeds of $11 million, and in the three and nine months ended September 30, 2016, we recognized an aggregate net gain of $3 million and $8 million, respectively, associated with the disposal of these assets. In the three and nine months ended September 30, 2016, we received cash proceeds of $1 million and $5 million, respectively, and recognized an aggregate net loss of $2 million and $8 million, respectively, associated with the disposal of assets unrelated to rig sales. During the nine months ended September 30, 2015, in connection with our efforts to dispose of non‑strategic assets, we completed the sale of the ultra‑deepwater floaters Deepwater Expedition and GSF Explorer, the deepwater floaters Discoverer Seven Seas, Sedco 707, Sedco 710 and Sovereign Explorer and the midwater floaters C. Kirk Rhein, Jr., GSF Arctic I, GSF Arctic III, J.W. McLean, Sedco 601, Sedco 700 and Transocean Legend, along with related equipment. In the three and nine months ended September 30, 2015, we received aggregate net cash proceeds of $1 million and $25 million, respectively, and recognized an aggregate net gain of $1 million and $7 million, respectively, associated with the disposal of these assets. In the three and nine months ended September 30, 2015, we received cash proceeds of $2 million and $8 million, respectively, and recognized an aggregate net loss of $16 million and $27 million, respectively, associated with the disposal of assets unrelated to rig sales. During the nine months ended September 30, 2016, we committed to a plan to sell the deepwater floater Sedco 702 and the midwater floaters Transocean Driller and Transocean Winner, along with related equipment. At September 30, 2016, the aggregate carrying amount of our assets held for sale was $6 million, including the deepwater floater Sedco 702 and the midwater floaters Transocean Driller and Transocean Winner, along with related equipment. At December 31, 2015, the aggregate carrying amount of our assets held for sale was $8 million, including the deepwater floater Deepwater Navigator and the midwater floaters Falcon 100, GSF Grand Banks, GSF Rig 135 and Sedneth 701, along with related equipment, and certain corporate assets. See Note 5—Impairments. See Note 15—Subsequent Events.

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- Definition The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.13-14) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=51717284&loc=d3e1361-107760 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=51719941&loc=d3e2921-110230 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6391035&loc=d3e2868-110229 + Details
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