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Segment information (Tables)

12 Months Ended

Dec. 31, 2020

Segment Reporting [Abstract]

Schedule of segment results

Segment results are evaluated on the basis of operating income and the information presented below is based on information used for internal management reporting. The change in reportable segments has been reflected retrospectively. Corresponding items of segment information for earlier periods have been recast. The remaining incidental revenues and expenses not included in the reportable segments are included in the "other" reportable segment.

The below section splits out total operating revenue, depreciation, amortization of intangibles, operating net loss, drilling units and capital expenditures by segment:

Total operating revenue

			Successor																					Predecessor
(In $ millions)			Year ended December 31, 2020						Year ended December 31, 2019						Period from July 2, 2018 through December 31, 2018									Period from January 1, 2018 through July 1, 2018
Harsh environment			526						510						150									103
Floaters			358						625						273									476
Jack-up rigs			157						229						107									128
Other			18						24						11									5
Total			1,059						1,388						541									712

Depreciation

			Successor																					Predecessor
(In $ millions)			Year ended December 31, 2020						Year ended December 31, 2019						Period from July 2, 2018 through December 31, 2018									Period from January 1, 2018 through July 1, 2018
Harsh environment			93						125						78									134
Floaters			176						224						120									179
Jack-up rigs			48						48						23									58
Other			29						29						15									20
Total			346						426						236									391

Amortization of intangibles

			Successor																					Predecessor
(In $ millions)			Year ended December 31, 2020						Year ended December 31, 2019						Period from July 2, 2018 through December 31, 2018									Period from January 1, 2018 through July 1, 2018
Harsh environment			1						—						(13)									—
Floaters			—						105						50									—
Jack-ups			—						29						21									—
Total			1						134						58									—

Impairment of drilling units and intangible assets

			Successor																					Predecessor
(In $ millions)			Year ended December 31, 2020						Year ended December 31, 2019						Period from July 2, 2018 through December 31, 2018									Period from January 1, 2018 through July 1, 2018
Harsh environment			419						—						—									414
Floaters			3,555						—						—									—
Jack-ups			86						—						—									—
Other			48						—						—									—
Total			4,108						—						—									414

Operating net loss

			Successor																					Predecessor
(In $ millions)			Year ended December 31, 2020						Year ended December 31, 2019						Period from July 2, 2018 through December 31, 2018									Period from January 1, 2018 through July 1, 2018
Harsh environment			(396)						(69)						(59)									(562)
Floaters			(3,781)						(201)						(112)									42
Jack-ups			(87)						(2)						—									(73)
Other			(218)						(23)						(4)									(20)
Operating loss			(4,482)						(295)						(175)									(613)
Unallocated items:
Total financial items and other			(176)						(966)						(422)									(3,242)
Loss before income taxes			(4,658)						(1,261)						(597)									(3,855)

Drilling assets - Total assets

(In $ millions)			December 31, 2020						December 31, 2019
Harsh environment rigs			1,032						1,537
Floaters			528						4,184
Jack-up Rigs			560						680
Total Drilling Units			2,120						6,401
Unallocated items:
Investments in Associated companies			248						389
Marketable securities			8						11
Cash and restricted cash			723						1,357
Other assets			862						1,121
Total assets			3,961						9,279

Drilling units - Capital expenditures (1)(2)

			Successor																					Predecessor
(In $ millions)			Year ended December 31, 2020						Year ended December 31, 2019						Period from July 2, 2018 through December 31, 2018									Period from January 1, 2018 through July 1, 2018
Harsh environment			26						34						7									41
Floaters			110						111						72									69
Jack-ups			12						17						19									6
Total			148						162						98									116

(1)The successor periods include additions to equipment

(2)Capital expenditure includes long term maintenance projects.

Schedule of revenues and fixed assets by geographic area

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 presents our revenues and fixed assets by geographic area:

Revenues

			Successor																					Predecessor
(In $ millions)			Year ended December 31, 2020						Year ended December 31, 2019						Period from July 2, 2018 through December 31, 2018									Period from January 1, 2018 through July 1, 2018
Norway			480						469						117									82
United States			107						74						34									30
Saudi Arabia			98						130						78									79
Angola			89						215						29									100
Brazil			51						137						91									188
Nigeria			—						198						108									105
Others (1)			234						165						84									128
Total Revenue			1,059						1,388						541									712

(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.

Fixed assets – drilling units (1)

Drilling unit fixed assets by geographic area are as follows:

(In $ millions)			December 31, 2020						December 31, 2019
Norway			1,044						1,818
Saudi Arabia			234						244
Malaysia			185						805
Qatar			151						54
USA			87						644
Brazil			79						332
Spain			49						615
Others (2)			291						1,889
Total			2,120						6,401

(1)Asset locations at the end of a period are not necessarily indicative of the geographic distribution of the revenues or operating profits generated by such assets during such period.

(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.

Schedule of customer with contract revenues by major customers

In the years ended December 31, 2020, the year ended December 31, 2019, the period from July 2, 2018 through December 31, 2018 (Successor), and the period from January 1, 2018 through July 1, 2018 (Predecessor), we had the following customers with total revenues greater than 10% in any of the years presented:

						Successor																					Predecessor
			Segment			Year ended December 31, 2020						Year ended December 31, 2019						Period from July 2, 2018 through December 31, 2018									Period from January 1, 2018 through July 1, 2018
ConocoPhillips			Harsh Environment			16		%				11		%				13		%							8		%
Equinor			Harsh Environment			12		%				16		%				7		%							5		%
Northern Ocean			Harsh Environment			12		%				12		%				—		%							—		%
Saudi Aramco			Jack-Ups			9		%				10		%				14		%							11		%
LLOG			Floaters			7		%				4		%				6		%							4		%
Petrobras			Floaters			5		%				7		%				10		%							23		%
Total			Floaters			4		%				18		%				24		%							19		%
ExxonMobil			Floaters			—						—		%				—		%							10		%
Other						35		%				22		%				26		%							20		%
Total						100		%				100		%				100		%							100		%

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Tabular disclosure of information concerning material long-lived assets (excluding financial instruments, customer relationships with financial institutions, mortgage and other servicing rights, deferred policy acquisition costs, and deferred taxes assets) located in identified geographic areas and/or the amount of revenue from external customers attributed to that country from which revenue is material. An entity may also provide subtotals of geographic information about groups of countries.

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