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Revenue from contracts with customers
 9 Months Ended
Sep. 30, 2025
Revenue from Contract with Customer [Abstract]  
Revenue from contracts with customers Revenue from contracts with customers
The following table provides information about receivables and contract liabilities from our contracts with customers, as of the dates presented:
(In $ millions)September 30,
2025		December 31,
2024
Accounts receivable, net179 193 
Current contract liabilities (classified within other current liabilities)(67)(63)
Non-current contract liabilities (classified within other non-current liabilities)(44)(48)
Changes in the contract liabilities balances during the three and nine months ended September 30, 2025 are as follows:
(In $ millions)Contract Liabilities
Contract liabilities as of January 1, 2025(111)
Amortization of revenue included in the January 1, 2025 contract liability balance23 
Additional contract liabilities recognized, excluding amounts recognized as revenue(39)
Contract liabilities as of March 31, 2025(127)
Amortization of revenue included in the March 31, 2025 contract liability balance19 
Additional contract liabilities recognized, excluding amounts recognized as revenue(15)
Contract liabilities as of June 30, 2025(123)
Amortization of revenue included in the June 30, 2025 contract liability balance17 
Additional contract liabilities recognized, excluding amounts recognized as revenue(5)
Contract liabilities as of September 30, 2025(111)
Revenues are attributed to geographical locations based on the country of operations for drilling activities, i.e., the country where the revenues are generated. The following table presents our revenues by geographic area:
Three months ended September 30,Nine months ended September 30,
(In $ millions)2025202420252024
Brazil160 83 445 254 
United States98 109 284 290 
Angola79 86 245 255 
Norway26 48 71 162 
Other (1)
— 28 30 135 
Total operating revenues363 354 1,075 1,096 
(1) "Other" represents countries in which we operate that individually had revenues representing less than 10% of total operating revenues earned for any of the periods presented.
We had the following customers with revenues greater than 10% of total operating revenues in any of the periods presented:
Three months ended September 30,Nine months ended September 30,
2025202420252024
Petrobras38 %17 %35 %17 %
Sonadrill21 %21 %22 %20 %
LLOG12 %12 %10 %10 %
Talos11 %— %12 %— %
Beacon— %10 %— %9 %
Other18 %40 %21 %44 %