2011 Q4 Form 10-K Financial Statement

#000145150513000040 Filed on March 01, 2013

View on sec.gov

Income Statement

Concept 2011 Q4 2011 Q3 2011 Q2
Revenue $2.133B $1.974B $2.051B
YoY Change 0.28% -13.46% -17.27%
Cost Of Revenue $2.264B $1.344B $1.194B
YoY Change 69.08% 11.81% -11.36%
Gross Profit -$209.0M $630.0M $643.0M
YoY Change -126.52% -41.61% -43.2%
Gross Profit Margin -9.8% 31.91% 31.35%
Selling, General & Admin $88.00M $67.00M $66.00M
YoY Change 33.33% 13.56% 13.79%
% of Gross Profit 10.63% 10.26%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $288.0M $281.0M $359.0M
YoY Change -297.26% -27.58% -8.65%
% of Gross Profit 44.6% 55.83%
Operating Expenses $376.0M $348.0M $252.0M
YoY Change -15.88% -22.15% -44.12%
Operating Profit -$5.811B $303.0M $380.0M
YoY Change 777.79% -52.06% -60.29%
Interest Expense -$161.0M $151.0M -$142.0M
YoY Change 10.27% -211.85% 4.41%
% of Operating Profit 49.83% -37.37%
Other Income/Expense, Net -$20.00M -$221.0M -$5.000M
YoY Change -281.82% 1600.0% 66.67%
Pretax Income -$5.978B $77.00M $236.0M
YoY Change 615.07% -84.16% -70.86%
Income Tax $113.0M $93.00M $52.00M
% Of Pretax Income 120.78% 22.03%
Net Earnings -$6.165B -$32.00M $124.0M
YoY Change 671.59% -108.7% -82.66%
Net Earnings / Revenue -289.03% -1.62% 6.05%
Basic Earnings Per Share -$18.67 -$0.09 $0.51
Diluted Earnings Per Share -$18.67 -$0.09 $0.50
COMMON SHARES
Basic Shares Outstanding 329.0M shares 320.0M shares 320.0M shares
Diluted Shares Outstanding 329.0M shares 320.0M shares 320.0M shares

Balance Sheet

Concept 2011 Q4 2011 Q3 2011 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $4.017B $3.286B $3.389B
YoY Change 19.77% -29.12% 17.35%
Cash & Equivalents $4.017B $3.246B $3.349B
Short-Term Investments
Other Short-Term Assets $646.0M $659.0M $689.0M
YoY Change 36.86% 97.31% 125.9%
Inventory $529.0M $578.0M $546.0M
Prepaid Expenses
Receivables $2.049B $2.046B $2.114B
Other Receivables $127.0M $0.00 $0.00
Total Short-Term Assets $7.536B $6.569B $6.738B
YoY Change 21.37% -15.46% 13.93%
LONG-TERM ASSETS
Property, Plant & Equipment $20.79B $20.72B $21.00B
YoY Change 8.73% -7.55% -6.78%
Goodwill $3.217B
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $3.491B $1.223B $1.070B
YoY Change 4.08% 20.49% 8.74%
Total Long-Term Assets $27.50B $30.08B $30.20B
YoY Change -10.16% -4.7% -4.55%
TOTAL ASSETS
Total Short-Term Assets $7.536B $6.569B $6.738B
Total Long-Term Assets $27.50B $30.08B $30.20B
Total Assets $35.03B $36.65B $36.94B
YoY Change -4.84% -6.83% -1.64%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $880.0M $755.0M $742.0M
YoY Change 5.77% -4.55% -23.35%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $2.187B $1.926B $1.916B
YoY Change 1.25% 12.17% 15.28%
Total Short-Term Liabilities $5.528B $4.270B $4.484B
YoY Change 38.34% -10.37% -3.94%
LONG-TERM LIABILITIES
Long-Term Debt $11.35B $9.174B $9.165B
YoY Change 25.25% -17.52% -6.13%
Other Long-Term Liabilities $1.925B $1.730B $1.754B
YoY Change 7.48% -1.26% 4.22%
Total Long-Term Liabilities $13.76B $10.90B $10.92B
YoY Change 20.32% -15.31% -4.61%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.528B $4.270B $4.484B
Total Long-Term Liabilities $13.76B $10.90B $10.92B
Total Liabilities $19.29B $15.82B $16.05B
YoY Change 24.99% -13.51% -4.62%
SHAREHOLDERS EQUITY
Retained Earnings $4.180B
YoY Change -57.92%
Common Stock $4.982B
YoY Change 11.16%
Preferred Stock
YoY Change
Treasury Stock (at cost) $240.0M
YoY Change 0.0%
Treasury Stock Shares 2.863M shares
Shareholders Equity $15.64B $20.82B $20.89B
YoY Change
Total Liabilities & Shareholders Equity $35.03B $36.65B $36.94B
YoY Change -4.84% -6.83% -1.64%

Cashflow Statement

Concept 2011 Q4 2011 Q3 2011 Q2
OPERATING ACTIVITIES
Net Income -$6.165B -$32.00M $124.0M
YoY Change 671.59% -108.7% -82.66%
Depreciation, Depletion And Amortization $288.0M $281.0M $359.0M
YoY Change -297.26% -27.58% -8.65%
Cash From Operating Activities $603.0M $492.0M $340.0M
YoY Change -20.24% -30.61% -73.21%
INVESTING ACTIVITIES
Capital Expenditures -$341.0M $124.0M -$293.0M
YoY Change -10.26% -141.33% -2.33%
Acquisitions
YoY Change
Other Investing Activities -$946.0M -$6.000M -$22.00M
YoY Change -400.0% -103.79%
Cash From Investing Activities -$1.287B -$320.0M -$315.0M
YoY Change 238.68% 7.38% -212.5%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $1.200B
YoY Change
Debt Paid & Issued, Net $23.00M
YoY Change
Cash From Financing Activities 1.455B -$275.0M -448.0M
YoY Change -187.76% -120.57% 81.38%
NET CHANGE
Cash From Operating Activities 603.0M $492.0M 340.0M
Cash From Investing Activities -1.287B -$320.0M -315.0M
Cash From Financing Activities 1.455B -$275.0M -448.0M
Net Change In Cash 771.0M -$103.0M -423.0M
YoY Change -160.14% -105.89% -132.49%
FREE CASH FLOW
Cash From Operating Activities $603.0M $492.0M $340.0M
Capital Expenditures -$341.0M $124.0M -$293.0M
Free Cash Flow $944.0M $368.0M $633.0M
YoY Change -16.9% -63.53% -59.66%

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CY2012 us-gaap Defined Benefit Plan Foreign Currency Exchange Rate Changes Plan Assets
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P1Y9M18D
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Plan Modification Incremental Compensation Cost
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CY2011 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Plan Modification Incremental Compensation Cost
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3000000 USD
CY2012 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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CY2010 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Plan Modification Incremental Compensation Cost
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CY2012Q4 us-gaap Long Term Debt
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CY2012 us-gaap Asset Impairment Charges
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CY2010 rig Other Nonoperating Income Expense And Gain Loss On Retirement Of Debt
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CY2011 us-gaap Goodwill Impairment Loss
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CY2012 us-gaap Proceeds From Sale Of Property Plant And Equipment
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CY2012 us-gaap Proceeds From Divestiture Of Businesses
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CY2012 us-gaap Proceeds From Repayments Of Short Term Debt
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CY2011 rig Other Financing Activities
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CY2010 us-gaap Payments For Repurchase Of Common Stock
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CY2012Q4 rig Nok Exchange Rate
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CY2011Q4 us-gaap Stock Issued During Period Shares New Issues
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CY2011Q4 rig Stock Issued During Period Value Per Share New Issues
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CY2011Q4 rig Stock Issued During Period Value Per Share New Issues
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37.19
CY2011Q4 rig Share Repurchase Usd Exchange Rate
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CY2011Q4 us-gaap Defined Benefit Plan Pension Plans With Accumulated Benefit Obligations In Excess Of Plan Assets Aggregate Fair Value Of Plan Assets
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CY2012Q4 us-gaap Defined Benefit Plan Plans With Benefit Obligations In Excess Of Plan Assets Aggregate Benefit Obligation
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CY2012 rig Defined Benefit Plan Contributions By Employer Using Cash Flows From Operations
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159000000 USD
CY2010 rig Defined Benefit Plan Contributions By Employer Using Cash Flows From Operations
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118000000 USD
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CY2009Q2 rig Authorized Aggregate Purchase Price Of Shares For Cancellation
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3500000000 CHF
CY2012 rig Authorized Aggregate Purchase Price Of Shares For Cancellation
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3800000000 USD
CY2012Q4 rig Share Repurchase Chf Exchange Rate
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CY2010 us-gaap Treasury Stock Shares Acquired
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CY2010 us-gaap Treasury Stock Value Acquired Cost Method
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257000000 CHF
CY2008Q4 rig Stock Issued To Subsidiary During Period Shares
StockIssuedToSubsidiaryDuringPeriodShares
16000000 shares
CY2008Q4 rig Number Of Subsidiaries To Whom Shares Were Issued
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CY2011 rig Defined Benefit Plan Contributions By Employer Using Cash Flows From Operations
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103000000 USD
CY2011 us-gaap Defined Benefit Plan Foreign Currency Exchange Rate Changes Plan Assets
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CY2011 us-gaap Defined Benefit Plan Contributions By Employer
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103000000 USD
CY2012Q4 us-gaap Defined Benefit Plan Plans With Benefit Obligations In Excess Of Plan Assets Aggregate Fair Value Of Plan Assets
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1352000000 USD
CY2012Q4 us-gaap Defined Benefit Plan Pension Plans With Accumulated Benefit Obligations In Excess Of Plan Assets Aggregate Accumulated Benefit Obligation
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1648000000 USD
CY2012Q4 us-gaap Defined Benefit Plan Pension Plans With Accumulated Benefit Obligations In Excess Of Plan Assets Aggregate Fair Value Of Plan Assets
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1246000000 USD
CY2012Q4 us-gaap Defined Benefit Plan Accumulated Benefit Obligation
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1700000000 USD
CY2011 rig Defined Benefit Plan Settlement And Curtailments Plan Assets
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CY2011Q4 us-gaap Defined Benefit Plan Fair Value Of Plan Assets
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1120000000 USD
CY2011Q4 us-gaap Defined Benefit Plan Funded Status Of Plan
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CY2012 us-gaap Defined Benefit Plan Interest Cost
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CY2012 us-gaap Defined Benefit Plan Foreign Currency Exchange Rate Changes Benefit Obligation
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CY2012 us-gaap Defined Benefit Plan Benefits Paid
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CY2011Q4 us-gaap Defined Benefit Plan Accumulated Benefit Obligation
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CY2011Q4 us-gaap Defined Benefit Plan Accumulated Other Comprehensive Income Net Gains Losses Before Tax
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CY2011 us-gaap Defined Benefit Plan Interest Cost
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CY2011 us-gaap Defined Benefit Plan Benefits Paid
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1760000000 USD
CY2010Q4 us-gaap Defined Benefit Plan Benefit Obligation
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CY2011 us-gaap Defined Benefit Plan Business Combinations And Acquisitions Benefit Obligation
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CY2011 us-gaap Defined Benefit Plan Business Combinations And Acquisitions Plan Assets
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CY2012Q4 us-gaap Defined Benefit Plan Benefit Obligation
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CY2012Q4 us-gaap Inventory Valuation Reserves
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CY2011Q4 us-gaap Inventory Valuation Reserves
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CY2012 rig Impairment Of Long Lived Assets Number Of Asset Groups For Which Impairment Is Indicated Minimum
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CY2012 us-gaap Defined Benefit Plan Amortization Of Net Prior Service Cost Credit
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CY2012 us-gaap Defined Benefit Plan Amounts That Will Be Amortized From Accumulated Other Comprehensive Income Loss In Next Fiscal Year
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CY2012 us-gaap Share Based Compensation
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CY2012 rig Defined Benefit Plan Determination Of Net Periodic Benefit Cost Investment Gain Loss Recognition Period
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P5Y
CY2012 rig Threshold For Amortization Of Investment Gains And Losses In Defined Benefit Plans
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70000000 USD
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CY2010 us-gaap Defined Contribution Plan Cost Recognized
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69000000 USD
CY2012 us-gaap Defined Contribution Plan Cost Recognized
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85000000 USD
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CY2010 us-gaap Interest Costs Capitalized
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CY2010 us-gaap Foreign Currency Transaction Gain Loss Before Tax
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CY2012 rig Maximum Expected Expiration Period Of Restriction To Classify Restricted Cash Investment As Current Assets
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P1Y
CY2012 rig Minimum Expected Expiration Period Of Restriction To Classify Restricted Cash Investment As Other Assets
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P1Y
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149000000 USD
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CY2011 us-gaap Other Comprehensive Income Loss Reclassification Adjustment For Sale Of Securities Included In Net Income Before Tax
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CY2012Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
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274000000 USD
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1600000000 USD
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1653000000 USD
CY2012 us-gaap Defined Benefit Plan Special Termination Benefits
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75000000 USD
CY2012 us-gaap Discontinued Operation Gain Loss On Disposal Of Discontinued Operation Net Of Tax
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82000000 USD
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657000000 USD
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CY2012 rig Number Of Harsh Environment Ultra Deepwater Semisubmersibles Acquired
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97000000 USD
CY2012 us-gaap Stock Issued During Period Value Share Based Compensation
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CY2012 rig Stock Issued During Period Value Issued For Non Cash Consideration
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CY2012 us-gaap Stockholders Equity Other
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CY2012Q4 rig Debt Of Consolidated Variable Interest Entities Due Within One Year
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CY2012Q4 rig Long Term Debt Excluding Variable Interest Entities
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CY2012Q4 us-gaap Common Stock Value
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CY2012Q4 us-gaap Additional Paid In Capital
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CY2012Q4 us-gaap Treasury Stock Value
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CY2012Q4 us-gaap Retained Earnings Accumulated Deficit
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CY2012Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
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CY2012Q4 us-gaap Minority Interest
MinorityInterest
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CY2012 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
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CY2010 us-gaap Depreciation And Amortization Discontinued Operations
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580000000 USD
CY2011Q4 us-gaap Disposal Group Including Discontinued Operation Inventory
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CY2011Q4 rig Disposal Group Including Discontinued Operation Deferred Costs
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42000000 USD
CY2012Q4 rig Disposal Group Including Discontinued Operation Rigs And Related Equipment Net Held For Sale
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104000000 USD
CY2012Q4 rig Disposal Group Including Discontinued Operation Materials And Supplies Held For Sale
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CY2011Q4 rig Disposal Group Including Discontinued Operation Deferred Tax Current Liabilities
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CY2011Q2 us-gaap Discontinued Operation Gain Loss From Disposal Of Discontinued Operation Before Income Tax
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CY2012Q1 us-gaap Goodwill Impaired Adjustment To Initial Estimate Amount
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CY2012Q4 rig Number Of Ultra Deepwater Drillships Under Construction
NumberOfUltraDeepwaterDrillshipsUnderConstruction
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CY2012 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
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CY2012Q4 rig Other Assets Current Less Cash
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270000000 USD
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CY2012Q4 us-gaap Liabilities Of Disposal Group Including Discontinued Operation Current
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CY2011Q4 us-gaap Liabilities Of Disposal Group Including Discontinued Operation Current
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CY2011Q4 rig Disposal Group Including Discontinued Operation Deferred Revenue Non Current
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VariableInterestEntitiesAssetsPledgedasCollateral
2200000000 USD
CY2012 rig Goodwill Impairment Loss Per Diluted Share
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CY2011 us-gaap Income Tax Expense Benefit Continuing Operations
IncomeTaxExpenseBenefitContinuingOperations
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CY2012 us-gaap Income Tax Expense Benefit Continuing Operations
IncomeTaxExpenseBenefitContinuingOperations
50000000 USD
CY2010 us-gaap Income Tax Expense Benefit Continuing Operations
IncomeTaxExpenseBenefitContinuingOperations
292000000 USD

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