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Segment information | 6 Months Ended
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Jun. 30, 2018
Segment Reporting [Abstract] |
Segment information | Note 5 – Segment information Operating segments We provide drilling and related services to the offshore oil and gas industry. We have been organized into three operating segments:
| 1. | Floaters: Services encompassing drilling, completion and maintenance of offshore exploration and production wells. The drilling contracts relate to semi-submersible rigs and drillships for harsh and benign environments in mid-, deep- and ultra-deep waters;
| 2. | Jack-ups: Services encompassing drilling, completion and maintenance of offshore exploration and production wells. The drilling contracts relate to jack-up rigs for operations in harsh and benign environments; and
| 3. | Other: Operations including management services to third parties and related parties. Income and expenses from these management services are classified under this segment.
Segment results are evaluated on the basis of operating income, and the information given below is based on information used for internal management reporting. Total operating revenue
(In $ millions) |  | Six Months Ended June 30, |
|  | 2018 |  |  | 2017 |
Floaters |  |  | 482 |  |  |  | 744 |
Jack-ups |  |  | 193 |  |  |  | 360 |
Other |  |  | 37 |  |  |  | 42 |
Total operating revenue |  |  | 712 |  |  |  | 1,146 |
Depreciation and amortization
(In $ millions) |  | Six Months Ended June 30, |
|  | 2018 |  |  | 2017 |
Floaters |  |  | 298 |  |  |  | 301 |
Jack-ups |  |  | 93 |  |  |  | 105 |
Total |  |  | 391 |  |  |  | 406 |
Operating loss - Net loss
(In $ millions) |  | Six Months Ended June 30, |
|  | 2018 |  |  | 2017 |
Floaters |  |  | (446 | ) |  |  | 95 |
Jack-ups |  |  | (167 | ) |  |  | (115 | )
Other |  |  | — |  |  |  | 3 |
Operating loss |  |  | (613 | ) |  |  | (17 | )
Unallocated items: |  |  |  |  |  |  |  |
Total financial items and other |  |  | 14 |  |  |  | (96 | )
Income taxes |  |  | (36 | ) |  |  | 12 |
Net loss |  |  | (635 | ) |  |  | (101 | )
Drilling units and Newbuildings - Total assets
(In $ millions) |  | June 30, 2018 |  |  | December 31, 2017 |
Floaters |  |  | 9,411 |  |  |  | 9,956 |
Jack-ups |  |  | 3,369 |  |  |  | 3,508 |
Total drilling units and newbuildings |  |  | 12,780 |  |  |  | 13,464 |
Unallocated items: |  |  |  |  |  |  |  |
Assets held for sale |  |  | — |  |  |  | 126 |
Investments in associated companies |  |  | 1,615 |  |  |  | 1,473 |
Marketable securities |  |  | 121 |  |  |  | 124 |
Cash and restricted cash |  |  | 1,218 |  |  |  | 1,359 |
Other assets |  |  | 1,311 |  |  |  | 1,436 |
Total assets |  |  | 17,045 |  |  |  | 17,982 |
Drilling units and Newbuildings - Capital expenditures
(In $ millions) |  | Six Months Ended June 30, |
|  | 2018 |  |  | 2017 |
Floaters |  |  | 93 |  |  |  | 54 |
Jack-ups |  |  | 24 |  |  |  | 12 |
Total |  |  | 117 |  |  |  | 66 |
Geographic segment data Revenues are attributed to geographical segments based on the country of operations for drilling activities, i.e. the country where the revenues are generated. The following information presents our revenues and fixed assets by geographic area: Revenues
(In US$ millions) |  | Six Months Ended June 30, |
|  | 2018 |  |  | 2017 |
Brazil |  |  | 188 |  |  |  | 197 |
Nigeria |  |  | 105 |  |  |  | 110 |
Angola |  |  | 100 |  |  |  | 249 |
Norway |  |  | 82 |  |  |  | 115 |
Saudi Arabia |  |  | 79 |  |  |  | 80 |
United States |  |  | 30 |  |  |  | 187 |
Others (1) |  |  | 128 |  |  |  | 208 |
Total |  |  | 712 |  |  |  | 1,146 |
(1) | Other countries represent countries in which we operate that individually had revenues representing less than 10% of total revenues earned for any of the periods presented.
Major Customers We had the following customers with contract revenues greater than 10% in any of the periods presented:
(In US$ millions) |  | Six Months Ended June 30, |
|  | 2018 |  |  | 2017 |
Petroleo Brasileiro S.A (“Petrobras”) |  |  | 27 | % |  |  | 17 | %
Total S.A Group (“Total”) |  |  | 20 | % |  |  | 22 | %
Saudi Aramco |  |  | 12 | % |  |  | 8 | %
Exxon Mobil Corp (“Exxon”) |  |  | 11 | % |  |  | 7 | %
LLOG |  |  | 5 | % |  |  | 18 | %
Fixed assets – drilling units (1)
(In US$ millions) |  | As at June 30, 2018 |  |  | As at December 31, 2017 |
Brazil |  |  | 2,405 |  |  |  | 1,816 |
Norway |  |  | 2,331 |  |  |  | 2,258 |
Malaysia |  |  | 1,445 |  |  |  | 1,809 |
Spain |  |  | 1,344 |  |  |  | 2,016 |
United States |  |  | 1,239 |  |  |  | 1,266 |
Other (2) |  |  | 3,767 |  |  |  | 4,051 |
Total |  |  | 12,531 |  |  |  | 13,216 |
(1) | The fixed assets referred to in the table above exclude assets under construction. The countries in this table represent the location of the drilling unit at the end of the reporting period and are not necessarily indicative of the geographic distribution of the revenues or operating profits generated by the assets during the period. In most cases these locations are different to the country in which the Company that owns the drilling unit is registered.
(2) | “Other countries” represent countries in which we operate that individually had fixed assets representing less than 10% of total fixed assets for any of the periods presented.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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