Unconsolidated Affiliates	3 Months Ended
Mar. 31, 2021
Unconsolidated Affiliates
Unconsolidated Affiliates	Note 4—Unconsolidated Affiliates Equity investments—We hold noncontrolling equity investments in various unconsolidated companies, including (a) our 33.0 percent ownership interest in Orion Holdings (Cayman) Limited (together with its subsidiary, “Orion”), a Cayman Islands company that, through its wholly owned subsidiary, owns the harsh environment floater Transocean Norge, and (b) our interests in certain companies that are involved in researching and developing technology to improve efficiency and reliability and to increase automation, sustainability and safety for drilling and other activities. In the three months ended March 31, 2020, we made an aggregate cash contribution of $6 million to Orion, our most significant equity investment, and in the three months ending June 30, 2021, we expect to make an additional $33 million cash contribution to Orion. At March 31, 2021 and December 31, 2020, the aggregate carrying amount of our equity investments was $139 million and $138 million, respectively, recorded in other assets, of which the aggregate carrying amount of our equity investment in Orion was $105 million and $104 million, respectively.

Unconsolidated Affiliates

3 Months Ended

Mar. 31, 2021

Note 4—Unconsolidated Affiliates

Equity investments—We hold noncontrolling equity investments in various unconsolidated companies, including (a) our 33.0 percent ownership interest in Orion Holdings (Cayman) Limited (together with its subsidiary, “Orion”), a Cayman Islands company that, through its wholly owned subsidiary, owns the harsh environment floater Transocean Norge, and (b) our interests in certain companies that are involved in researching and developing technology to improve efficiency and reliability and to increase automation, sustainability and safety for drilling and other activities. In the three months ended March 31, 2020, we made an aggregate cash contribution of $6 million to

Orion, our most significant equity investment, and in the three months ending June 30, 2021, we expect to make an additional $33 million cash contribution to Orion. At March 31, 2021 and December 31, 2020, the aggregate carrying amount of our equity investments was $139 million and $138 million, respectively, recorded in other assets, of which the aggregate carrying amount of our equity investment in Orion was $105 million and $104 million, respectively.