XML 158 R58.htm IDEA: XBRL DOCUMENT v3.22.1
Commitments and contingencies (Tables)
 12 Months Ended
Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]  
Commitments The Company has the following delivery installment commitments:
 As at December 31, 2021As at December 31, 2020
(In $ millions)Delivery installmentBack-end feeDelivery installmentBack-end fee
Delivery installments for jack-up drilling rigs621.0 9.0 621.0 9.0 
Maturity of Commitments
The following table sets forth when our delivery installment commitments fall due as of December 31, 2021:

(In $ millions)Less than 1 year2 years3 yearsThereafterTotal
Delivery installments for jack-up rigs— 621.0 — — 621.0 
Other Commercial Commitments
The Company has the following guarantee commitments:
As of December 31,
(In $ millions)20212020
Surety bonds, bank guarantees and performance bonds20.8 43.3 
Performance guarantee to Opex (1)
— 5.9 
Total20.8 49.2 

(1) Effective August 4, 2021, upon sale of the Company's 49% interest in Opex, the performance guarantee provided to Opex was terminated, and the associated liability was derecognized (see Note 7 - Equity Method Investments).
As of December 31, 2021, the expiry dates of these obligations are as follows:

(In $ millions)Less than 1 year1-3 yearsTotal
Surety bonds, bank guarantees and performance bonds13.2 7.6 20.8 
Total13.2 7.6 20.8 
Assets Pledged as Collateral
Assets pledged as collateral

As of December 31,
(In $ millions)20212020
Book value of jackup rigs pledged as collateral for long-term debt facilities 2,730.8 2,824.6