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Revenues (Tables)

9 Months Ended

Sep. 30, 2018

Revenues

Schedule of revenue disaggregation

In the three and nine months ended September 30, 2018 and 2017, we recognized revenues as follows (in millions):

		Three months ended September 30, 2018																			Three months ended September 30, 2017
		U.S.			U.K.			Norway			Brazil			Other			Total				U.S.			U.K.			Norway			Brazil			Other			Total
Ultra-deepwater floaters		$	396		$	—		$	—		$	1		$	86		$	483			$	368		$	—		$	—		$	39		$	116		$	523
Harsh environment floaters			—			37			174			—			54			265				8			62			15			—			33			118
Deepwater floaters			—			—			—			25			11			36				—			—			—			24			11			35
Midwater floaters			—			10			—			—			9			19				—			8			—			—			96			104
High-specification jackups			—			—			—			—			13			13				—			—			—			—			28			28
Total revenues		$	396		$	47		$	174		$	26		$	173		$	816			$	376		$	70		$	15		$	63		$	284		$	808

		Nine months ended September 30, 2018																			Nine months ended September 30, 2017
		U.S.			U.K.			Norway			Brazil			Other			Total				U.S.			U.K.			Norway			Brazil			Other			Total
Ultra-deepwater floaters		$	1,162		$	—		$	—		$	1		$	168		$	1,331			$	1,167		$	—		$	—		$	198		$	244		$	1,609
Harsh environment floaters			—			88			467			—			166			721				8			197			54			—			89			348
Deepwater floaters			—			—			—			74			32			106				—			—			—			73			33			106
Midwater floaters			—			30			—			—			27			57				—			22			—			—			114			136
High-specification jackups			—			—			—			—			55			55				—			33			—			—			112			145
Total revenues		$	1,162		$	118		$	467		$	75		$	448		$	2,270			$	1,175		$	252		$	54		$	271		$	592		$	2,344

Schedule of contract balances and changes

Contract liabilities for our contracts with customers were as follows (in millions):

		September 30,			January 1,
		2018			2018
Deferred contract revenues, recorded in other current liabilities		$	90		$	203
Deferred contract revenues, recorded in other long-term liabilities			408			422
Total contract liabilities		$	498		$	625

Significant changes in contract liabilities were as follows (in millions):

		Nine months
		ended
		September 30, 2018
Total contract liabilities, beginning of period			625
Decrease due to recognition of revenues for goods and services			(192)
Increase due to goods and services transferred over time			65
Total contract liabilities, end of period		$	498

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Tabular disclosure of contract balances and changes in contract balances.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
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-URI http://asc.fasb.org/extlink&oid=109196051&loc=SL49130551-203045

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+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
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