$RIG
Transocean Ltd.

2014 Q3 Form 10-Q Financial Statement

#000145150514000151 Filed on November 10, 2014

View on sec.gov

Income Statement

Concept 2014 Q3 2014 Q2 2013 Q4
Revenue $2.270B $2.328B $2.332B
YoY Change -7.31% -1.52% 0.26%
Cost Of Revenue $1.318B $1.213B $1.461B
YoY Change -4.91% -10.61% 6.25%
Gross Profit $952.0M $1.115B $791.0M
YoY Change -10.44% 10.72% -12.4%
Gross Profit Margin 41.94% 47.9% 33.92%
Selling, General & Admin $52.00M $63.00M $75.00M
YoY Change -22.39% -18.18% 15.38%
% of Gross Profit 5.46% 5.65% 9.48%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $288.0M $288.0M $275.0M
YoY Change 5.49% 0.7% -1.08%
% of Gross Profit 30.25% 25.83% 34.77%
Operating Expenses $340.0M $351.0M $350.0M
YoY Change 0.0% -3.31% 2.34%
Operating Profit -$2.168B $765.0M $407.0M
YoY Change -392.18% 26.45% -24.77%
Interest Expense $122.0M $112.0M -$126.0M
YoY Change -14.08% -23.29% -24.55%
% of Operating Profit 14.64% -30.96%
Other Income/Expense, Net -$110.0M -$89.00M -$8.000M
YoY Change -18.52% -41.06% -55.56%
Pretax Income -$2.278B $676.0M $264.0M
YoY Change -477.78% 48.9% -40.54%
Income Tax -$16.00M $72.00M $44.00M
% Of Pretax Income 10.65% 16.67%
Net Earnings -$2.217B $587.0M $233.0M
YoY Change -506.04% 91.21% -48.9%
Net Earnings / Revenue -97.67% 25.21% 9.99%
Basic Earnings Per Share -$6.12 $1.61 $0.62
Diluted Earnings Per Share -$6.12 $1.61 $0.62
COMMON SHARES
Basic Shares Outstanding 362.0M shares 362.0M shares 361.0M shares
Diluted Shares Outstanding 362.0M shares 362.0M shares 361.0M shares

Balance Sheet

Concept 2014 Q3 2014 Q2 2013 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.873B $2.117B $3.084B
YoY Change -19.28% -36.94% -33.95%
Cash & Equivalents $2.873B $2.117B $3.243B
Short-Term Investments
Other Short-Term Assets $275.0M $299.0M $331.0M
YoY Change -33.57% -27.78% -13.35%
Inventory $835.0M $816.0M $743.0M
Prepaid Expenses
Receivables $2.174B $2.214B $2.112B
Other Receivables $0.00 $0.00 $50.00M
Total Short-Term Assets $6.367B $5.760B $6.772B
YoY Change -13.64% -16.11% -21.68%
LONG-TERM ASSETS
Property, Plant & Equipment $21.69B $22.38B $21.71B
YoY Change 2.81% 6.29% 3.96%
Goodwill $1.014B $2.987B $2.987B
YoY Change -66.05% 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $895.0M $939.0M $1.080B
YoY Change -21.83% -28.1% -37.97%
Total Long-Term Assets $23.60B $26.31B $25.77B
YoY Change -6.47% 3.78% 0.65%
TOTAL ASSETS
Total Short-Term Assets $6.367B $5.760B $6.772B
Total Long-Term Assets $23.60B $26.31B $25.77B
Total Assets $29.96B $32.07B $32.55B
YoY Change -8.09% -0.46% -4.99%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $892.0M $764.0M $1.106B
YoY Change -7.28% -17.05% 5.64%
Accrued Expenses $539.0M
YoY Change -0.74%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $362.0M $159.0M $323.0M
YoY Change 64.55% -16.75% -76.37%
Total Short-Term Liabilities $3.546B $3.397B $3.554B
YoY Change -6.09% -10.49% -34.94%
LONG-TERM LIABILITIES
Long-Term Debt $9.991B $10.30B $10.38B
YoY Change -4.92% -2.92% -6.43%
Other Long-Term Liabilities $1.210B $1.236B $1.554B
YoY Change -29.53% -30.83% -3.12%
Total Long-Term Liabilities $11.46B $11.89B $12.31B
YoY Change -8.81% -6.78% -5.78%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.546B $3.397B $3.554B
Total Long-Term Liabilities $11.46B $11.89B $12.31B
Total Liabilities $15.01B $15.29B $15.86B
YoY Change -8.18% -7.63% -14.38%
SHAREHOLDERS EQUITY
Retained Earnings $4.088B $6.305B $5.262B
YoY Change -18.71% 40.64% 36.5%
Common Stock $5.168B $5.167B $5.147B
YoY Change 0.49% 0.33%
Preferred Stock
YoY Change
Treasury Stock (at cost) $240.0M $240.0M $240.0M
YoY Change 0.0% 0.0% 0.0%
Treasury Stock Shares 2.863M shares 2.863M shares 2.863M shares
Shareholders Equity $14.61B $16.76B $16.69B
YoY Change
Total Liabilities & Shareholders Equity $29.96B $32.07B $32.55B
YoY Change -8.09% -0.46% -4.99%

Cashflow Statement

Concept 2014 Q3 2014 Q2 2013 Q4
OPERATING ACTIVITIES
Net Income -$2.217B $587.0M $233.0M
YoY Change -506.04% 91.21% -48.9%
Depreciation, Depletion And Amortization $288.0M $288.0M $275.0M
YoY Change 5.49% 0.7% -1.08%
Cash From Operating Activities $882.0M $636.0M $773.0M
YoY Change 41.57% 52.88% -16.25%
INVESTING ACTIVITIES
Capital Expenditures $365.0M $351.0M -$948.0M
YoY Change -18.89% -0.28% 44.29%
Acquisitions
YoY Change
Other Investing Activities $101.0M $130.0M $76.00M
YoY Change -5150.0% -4433.33% -86.71%
Cash From Investing Activities -$264.0M -$221.0M -$872.0M
YoY Change 25.71% 37.27% 925.88%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $75.00M $6.000M
YoY Change -2.6% -98.52%
Cash From Financing Activities $138.0M -$285.0M -217.0M
YoY Change -165.4% -51.45% -87.27%
NET CHANGE
Cash From Operating Activities $882.0M $636.0M 773.0M
Cash From Investing Activities -$264.0M -$221.0M -872.0M
Cash From Financing Activities $138.0M -$285.0M -217.0M
Net Change In Cash $756.0M $130.0M -316.0M
YoY Change 274.26% -139.16% -63.55%
FREE CASH FLOW
Cash From Operating Activities $882.0M $636.0M $773.0M
Capital Expenditures $365.0M $351.0M -$948.0M
Free Cash Flow $517.0M $285.0M $1.721B
YoY Change 198.84% 345.31% 8.92%

Facts In Submission

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dei Entity Registrant Name
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dei Document Type
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<div style="font-size:10.0pt;font-family:Times New Roman;"> <p style="MARGIN: 0in 0in 0pt;"><b><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold;" size="2">Note&#160;1&#8212;Nature of Business</font></b></p> <p style="MARGIN: 0in 0in 0pt;">&#160;</p> <p style="TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt;"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt;" size="2">Transocean&#160;Ltd. (together with its subsidiaries and predecessors, unless the context requires otherwise, &#8220;Transocean,&#8221; the &#8220;Company,&#8221; &#8220;we,&#8221; &#8220;us&#8221; or &#8220;our&#8221;) is a leading international provider of offshore contract drilling services for oil and gas wells.&#160; We specialize in technically demanding sectors of the offshore drilling business with a particular focus on deepwater and harsh environment drilling services.&#160; Our mobile offshore drilling fleet is considered one&#160;of the most versatile fleets in the world.&#160; We contract our drilling rigs, related equipment and work crews predominantly on a dayrate basis to drill oil and gas wells.&#160; At September&#160;30, 2014, we owned or had partial ownership interests in and operated 79&#160;mobile offshore drilling units associated with our continuing operations.&#160; At September&#160;30, 2014, our fleet consisted of 48&#160;High-Specification Floaters (Ultra-Deepwater, Deepwater and Harsh Environment semisubmersibles and drillships), 21&#160;Midwater Floaters, and 10&#160;High-Specification Jackups.&#160; At September&#160;30, 2014, we also had seven&#160;Ultra-Deepwater drillships and five&#160;High-Specification Jackups under construction or under contract to be constructed.&#160; See Note&#160;9&#8212;Drilling Fleet.</font></p> <p style="TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt;">&#160;</p> <p style="TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt;"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt;" size="2">In February&#160;2014, in connection with our efforts to discontinue non-strategic operations, we completed the sale of Applied&#160;Drilling&#160;Technology&#160;International&#160;Limited (&#8220;ADTI&#8221;), a United Kingdom (&#8220;U.K.&#8221;) company, which performs drilling management services in the North Sea.&#160; See Note&#160;7&#8212;Discontinued Operations.</font></p> <p style="TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt;">&#160;</p> <p style="TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt;"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt;" size="2">On August&#160;5, 2014, we completed an initial public offering to sell a noncontrolling interest in Transocean Partners&#160;LLC (&#8220;Transocean Partners&#8221;), a Marshall Islands limited liability company, which was</font> <font style="FONT-SIZE: 10pt;" size="2">formed on February&#160;6, 2014, by Transocean&#160;Partners Holdings&#160;Limited, a Cayman Islands company and our wholly owned subsidiary, to own, operate and acquire modern, technologically advanced offshore drilling rigs</font><font style="FONT-SIZE: 10pt;" size="2">.&#160; See Note&#160;15&#8212;Noncontrolling Interest</font><font style="FONT-SIZE: 10pt;" size="2">.</font></p> </div>
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us-gaap Use Of Estimates
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<div style="font-size:10.0pt;font-family:Times New Roman;"> <p style="TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt;"><b><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold;" size="2">Accounting estimates</font></b><font style="FONT-SIZE: 10pt;" size="2">&#8212;To prepare financial statements in accordance with accounting principles generally accepted in the U.S., we are required to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses and the disclosures of contingent assets and liabilities.&#160; On an ongoing basis, we evaluate our estimates and assumptions, including those related to our discontinued operations, allowance for doubtful accounts, materials and supplies obsolescence, assets held for sale, property and equipment, investments, loans receivable, goodwill, income taxes, contingencies, share-based compensation, defined benefit pension plans and other postretirement benefits.&#160; We base our estimates and assumptions on historical experience and on various other factors we believe are reasonable under the circumstances, the results of which form the basis for making judgments about the carrying amounts of assets and liabilities that are not readily apparent from other sources.&#160; Actual results could differ from such estimates.</font></p> <p style="TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt;">&#160;</p> </div>
CY2014Q3 us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
17000000 USD
CY2014Q3 us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
22000000 USD
CY2014Q3 us-gaap Defined Benefit Plan Expected Return On Plan Assets
DefinedBenefitPlanExpectedReturnOnPlanAssets
26000000 USD
CY2014Q3 us-gaap Defined Benefit Plan Recognized Net Gain Loss Due To Settlements And Curtailments1
DefinedBenefitPlanRecognizedNetGainLossDueToSettlementsAndCurtailments1
-2000000 USD
CY2013Q3 us-gaap Defined Benefit Plan Expected Return On Plan Assets
DefinedBenefitPlanExpectedReturnOnPlanAssets
23000000 USD
CY2013Q3 us-gaap Defined Benefit Plan Recognized Net Gain Loss Due To Settlements And Curtailments1
DefinedBenefitPlanRecognizedNetGainLossDueToSettlementsAndCurtailments1
-1000000 USD
CY2013Q3 us-gaap Defined Benefit Plan Amortization Of Gains Losses
DefinedBenefitPlanAmortizationOfGainsLosses
-10000000 USD
CY2013Q3 us-gaap Defined Benefit Plan Amortization Of Prior Service Cost Credit
DefinedBenefitPlanAmortizationOfPriorServiceCostCredit
1000000 USD
CY2013Q3 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
30000000 USD
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="font-size:10.0pt;font-family:Times New Roman;"> <p style="TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt;"><b><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold;" size="2">Reclassifications</font></b><font style="FONT-SIZE: 10pt;" size="2">&#8212;We have made certain reclassifications, which did not have an effect on net income, to prior period amounts to conform with the current period&#8217;s presentation, including certain reclassifications to our consolidated statements of operations and cash flows to present discontinued operations (see Note&#160;7&#8212;Discontinued Operations) and reclassification of an intracompany note (see Note&#160;17&#8212;Condensed Consolidating Financial Information).&#160; Other reclassifications did not have a material effect on our condensed consolidated statement of financial position, results of operations or cash flows.</font></p> </div>
CY2014Q3 us-gaap Variable Interest Entity Consolidated Carrying Amount Liabilities
VariableInterestEntityConsolidatedCarryingAmountLiabilities
81000000 USD
CY2013Q4 us-gaap Variable Interest Entity Consolidated Carrying Amount Assets And Liabilities Net
VariableInterestEntityConsolidatedCarryingAmountAssetsAndLiabilitiesNet
1019000000 USD
CY2014Q3 us-gaap Variable Interest Entity Consolidated Carrying Amount Assets And Liabilities Net
VariableInterestEntityConsolidatedCarryingAmountAssetsAndLiabilitiesNet
1195000000 USD
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
1170000000 USD
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
360000000 shares
CY2014Q3 rig Number Of Ultra Deepwater Floaters Under Construction
NumberOfUltraDeepwaterFloatersUnderConstruction
2 drillingunit
CY2013Q4 us-gaap Long Term Debt
LongTermDebt
10702000000 USD
CY2014Q3 us-gaap Long Term Debt
LongTermDebt
10353000000 USD
CY2013Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
323000000 USD
CY2014Q3 us-gaap Long Term Debt Current
LongTermDebtCurrent
362000000 USD
CY2013Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
10379000000 USD
CY2014Q3 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
9991000000 USD
CY2014Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Rolling Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextRollingTwelveMonths
360000000 USD
CY2014Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Rolling Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearTwo
1050000000 USD
CY2014Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Rolling Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearThree
1159000000 USD
CY2014Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Rolling Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearFour
2059000000 USD
CY2014Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Rolling Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearFive
31000000 USD
CY2014Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Rolling After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingAfterYearFive
5695000000 USD
CY2014Q3 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
10354000000 USD
CY2014Q3 us-gaap Debt Instrument Unamortized Discount Premium Net
DebtInstrumentUnamortizedDiscountPremiumNet
1000000 USD
CY2014Q3 us-gaap Defined Benefit Plan Amortization Of Gains Losses
DefinedBenefitPlanAmortizationOfGainsLosses
-5000000 USD
CY2014Q3 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
20000000 USD
CY2014Q3 us-gaap Pension And Other Postretirement Benefit Contributions
PensionAndOtherPostretirementBenefitContributions
4000000 USD
CY2013Q3 us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
20000000 USD
CY2013Q3 us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
21000000 USD
us-gaap Defined Benefit Plan Amortization Of Gains Losses
DefinedBenefitPlanAmortizationOfGainsLosses
-17000000 USD
us-gaap Defined Benefit Plan Amortization Of Prior Service Cost Credit
DefinedBenefitPlanAmortizationOfPriorServiceCostCredit
-1000000 USD
us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
59000000 USD
us-gaap Pension And Other Postretirement Benefit Contributions
PensionAndOtherPostretirementBenefitContributions
70000000 USD
us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
63000000 USD
us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
64000000 USD
us-gaap Defined Benefit Plan Expected Return On Plan Assets
DefinedBenefitPlanExpectedReturnOnPlanAssets
68000000 USD
us-gaap Defined Benefit Plan Recognized Net Gain Loss Due To Settlements And Curtailments1
DefinedBenefitPlanRecognizedNetGainLossDueToSettlementsAndCurtailments1
-2000000 USD
us-gaap Defined Benefit Plan Amortization Of Gains Losses
DefinedBenefitPlanAmortizationOfGainsLosses
-38000000 USD
us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
99000000 USD
us-gaap Pension And Other Postretirement Benefit Contributions
PensionAndOtherPostretirementBenefitContributions
92000000 USD
us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Before Reclassification Adjustments And Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentBeforeReclassificationAdjustmentsAndTax
-70000000 USD
CY2014Q3 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Before Reclassification Adjustments And Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentBeforeReclassificationAdjustmentsAndTax
3000000 USD
CY2013Q4 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Current And Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesCurrentAndNoncurrent
417000000 USD
CY2014Q3 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Current And Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesCurrentAndNoncurrent
315000000 USD
CY2014Q2 rig Defined Benefit Plans Number Of Unfunded Supplemental Benefit Plans Covered Under Benefits Freeze
DefinedBenefitPlansNumberOfUnfundedSupplementalBenefitPlansCoveredUnderBenefitsFreeze
1 item
CY2013Q1 rig Administrative Agreement Term
AdministrativeAgreementTerm
P5Y
CY2014Q2 rig Cash Distribution Per Share Approved As Additional Paid In Capital
CashDistributionPerShareApprovedAsAdditionalPaidInCapital
3.00
CY2014Q2 rig Number Of Quarterly Installments
NumberOfQuarterlyInstallments
4 item
CY2014Q2 rig Amount Of Installment
AmountOfInstallment
0.75
CY2014Q2 rig Us Dollar Denominated Dividend
USDollarDenominatedDividend
1100000000 USD
CY2014Q3 rig Number Of Quarterly Installments Paid
NumberOfQuarterlyInstallmentsPaid
2 item
CY2014Q3 rig Us Dollar Denominated Dividend
USDollarDenominatedDividend
544000000 USD
CY2013Q2 rig Cash Distribution Per Share Approved As Additional Paid In Capital
CashDistributionPerShareApprovedAsAdditionalPaidInCapital
2.24
CY2013Q2 rig Number Of Quarterly Installments
NumberOfQuarterlyInstallments
4 item
CY2013Q2 rig Amount Of Installment
AmountOfInstallment
0.56
CY2013Q2 rig Us Dollar Denominated Dividend
USDollarDenominatedDividend
808000000 USD
CY2014Q1 us-gaap Payments Of Capital Distribution
PaymentsOfCapitalDistribution
202000000 USD
CY2014Q3 rig Number Of Subsidiaries To Whom Shares Were Issued
NumberOfSubsidiariesToWhomSharesWereIssued
1 item
CY2014Q3 rig Common Stock Held By Subsidiary Shares
CommonStockHeldBySubsidiaryShares
8700000 shares
CY2013Q4 rig Common Stock Held By Subsidiary Shares
CommonStockHeldBySubsidiaryShares
10200000 shares
CY2013Q2 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-434000000 USD
CY2013Q3 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-426000000 USD
CY2012Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-521000000 USD
CY2014Q2 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-188000000 USD
CY2014Q3 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-185000000 USD
CY2013Q3 rig Number Of Quarterly Installments Paid
NumberOfQuarterlyInstallmentsPaid
2 item
CY2013Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-262000000 USD
CY2013Q3 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
-3000000 USD
us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
41000000 USD
CY2014Q3 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
-3000000 USD
us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
70000000 USD
CY2013Q3 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-11000000 USD
us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-54000000 USD
CY2014Q3 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-6000000 USD
us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-7000000 USD
CY2013Q3 rig Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent Including Reclassification
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParentIncludingReclassification
8000000 USD
rig Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent Including Reclassification
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParentIncludingReclassification
95000000 USD
CY2014Q3 rig Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent Including Reclassification
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParentIncludingReclassification
3000000 USD
rig Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent Including Reclassification
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParentIncludingReclassification
77000000 USD
CY2013Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
2300000000 USD
CY2014Q3 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
2000000000 USD
us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
443000000 USD
CY2014Q3 us-gaap Supplies
Supplies
835000000 USD
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansBeforeTax
13000000 USD
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesBeforeTax
2000000 USD
CY2014Q3 us-gaap Assets Held For Sale Current
AssetsHeldForSaleCurrent
50000000 USD
CY2014Q3 us-gaap Deferred Tax Assets Net Current
DeferredTaxAssetsNetCurrent
160000000 USD
CY2014Q3 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansBeforeTax
7000000 USD
CY2014Q3 us-gaap Other Assets Current
OtherAssetsCurrent
275000000 USD
us-gaap Proceeds From Collection Of Notes Receivable
ProceedsFromCollectionOfNotesReceivable
14000000 USD
CY2014Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
30107000000 USD
rig Amortization Of Drilling Contract Intangibles
AmortizationOfDrillingContractIntangibles
-12000000 USD
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
849000000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
75000000 USD
CY2014Q3 rig Amortization Of Drilling Contract Intangibles
AmortizationOfDrillingContractIntangibles
-4000000 USD
CY2014Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
288000000 USD
CY2014Q3 us-gaap Share Based Compensation
ShareBasedCompensation
24000000 USD
CY2014Q3 us-gaap Asset Impairment Charges
AssetImpairmentCharges
2768000000 USD
CY2014Q3 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-12000000 USD
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-14000000 USD
CY2014Q3 us-gaap Revenues
Revenues
2270000000 USD
CY2014Q3 us-gaap Costs And Expenses
CostsAndExpenses
1658000000 USD
CY2014Q3 us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
-12000000 USD
CY2014Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-2168000000 USD
CY2014Q3 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-116000000 USD
CY2014Q3 rig Other Nonoperating Income Expense And Gain Loss On Retirement Of Debt
OtherNonoperatingIncomeExpenseAndGainLossOnRetirementOfDebt
6000000 USD
CY2014Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-110000000 USD
CY2014Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-2278000000 USD
CY2014Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-16000000 USD
CY2014Q3 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
-2262000000 USD
CY2014Q3 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-10000000 USD
CY2014Q3 rig Goodwill Impairment Loss Per Diluted Share
GoodwillImpairmentLossPerDilutedShare
5.29
CY2014Q3 us-gaap Payments Of Capital Distribution
PaymentsOfCapitalDistribution
272000000 USD
CY2014Q3 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-27000000 USD
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-36000000 USD
us-gaap Revenues
Revenues
6937000000 USD
CY2014Q3 us-gaap Profit Loss
ProfitLoss
-2263000000 USD
CY2014Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-46000000 USD
CY2013Q3 us-gaap Costs And Expenses
CostsAndExpenses
1726000000 USD
CY2014Q3 us-gaap Net Income Loss
NetIncomeLoss
-2217000000 USD
CY2014Q3 us-gaap Other Comprehensive Income Loss Before Tax
OtherComprehensiveIncomeLossBeforeTax
4000000 USD
CY2014Q3 us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
1000000 USD
CY2014Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
3000000 USD
CY2014Q3 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
-2260000000 USD
CY2014Q3 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
-46000000 USD
CY2014Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-2214000000 USD
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-134000000 USD
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-27000000 USD
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
80000000 USD
us-gaap Increase Decrease In Deferred Charges
IncreaseDecreaseInDeferredCharges
32000000 USD
us-gaap Increase Decrease In Operating Capital
IncreaseDecreaseInOperatingCapital
856000000 USD
CY2014Q3 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-94000000 USD
CY2014Q3 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
10000000 USD
CY2014Q3 us-gaap Investment Income Interest
InvestmentIncomeInterest
6000000 USD
us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
-0.04
CY2014Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
8419000000 USD
CY2014Q3 us-gaap Increase Decrease In Deferred Charges
IncreaseDecreaseInDeferredCharges
52000000 USD
CY2014Q3 us-gaap Increase Decrease In Operating Capital
IncreaseDecreaseInOperatingCapital
-183000000 USD
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
15000000 USD
us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
2000000000 USD
rig Goodwill Impairment Loss Per Diluted Share
GoodwillImpairmentLossPerDilutedShare
5.28
CY2014Q3 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
365000000 USD
CY2014Q3 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
102000000 USD
CY2014Q3 us-gaap Proceeds From Divestiture Of Businesses
ProceedsFromDivestitureOfBusinesses
-1000000 USD
CY2014Q3 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
75000000 USD
CY2014Q3 us-gaap Proceeds From Sale Of Restricted Investments
ProceedsFromSaleOfRestrictedInvestments
69000000 USD
us-gaap Costs And Expenses
CostsAndExpenses
4821000000 USD
us-gaap Asset Impairment Charges
AssetImpairmentCharges
2833000000 USD
us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
-14000000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
-731000000 USD
us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-329000000 USD
rig Other Nonoperating Income Expense And Gain Loss On Retirement Of Debt
OtherNonoperatingIncomeExpenseAndGainLossOnRetirementOfDebt
12000000 USD
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-317000000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-1048000000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
136000000 USD
us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
-1184000000 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-26000000 USD
us-gaap Net Income Loss
NetIncomeLoss
-1174000000 USD
us-gaap Other Comprehensive Income Loss Before Tax
OtherComprehensiveIncomeLossBeforeTax
81000000 USD
us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
4000000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
77000000 USD
us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
-1123000000 USD
us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
-26000000 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-1097000000 USD
us-gaap Investment Income Interest
InvestmentIncomeInterest
31000000 USD
CY2014Q3 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
895000000 USD
CY2013Q3 us-gaap Revenues
Revenues
2449000000 USD
CY2013Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
554000000 USD
CY2014Q3 us-gaap Interest Expense
InterestExpense
122000000 USD
CY2013Q3 us-gaap Asset Impairment Charges
AssetImpairmentCharges
17000000 USD
CY2013Q3 us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
32000000 USD
CY2014Q3 us-gaap Accounts Payable Current
AccountsPayableCurrent
892000000 USD
CY2014Q3 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
130000000 USD
us-gaap Revenues
Revenues
6997000000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
97000000 USD
us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
1269000000 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
1269000000 USD
CY2013Q3 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-131000000 USD
us-gaap Costs And Expenses
CostsAndExpenses
5147000000 USD
us-gaap Asset Impairment Charges
AssetImpairmentCharges
54000000 USD
CY2014Q3 us-gaap Debt Current
DebtCurrent
362000000 USD
CY2013Q3 rig Other Nonoperating Income Expense And Gain Loss On Retirement Of Debt
OtherNonoperatingIncomeExpenseAndGainLossOnRetirementOfDebt
-4000000 USD
CY2013Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
21707000000 USD
CY2013Q4 us-gaap Goodwill
Goodwill
2987000000 USD
CY2013Q4 rig Other Assets Noncurrent Excluding Investments
OtherAssetsNoncurrentExcludingInvestments
1080000000 USD
CY2013Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
603000000 USD
CY2013Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
63000000 USD
CY2013Q3 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
540000000 USD
CY2013Q3 us-gaap Profit Loss
ProfitLoss
548000000 USD
CY2013Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
2000000 USD
CY2013Q3 us-gaap Net Income Loss
NetIncomeLoss
546000000 USD
CY2013Q3 us-gaap Other Comprehensive Income Loss Before Tax
OtherComprehensiveIncomeLossBeforeTax
11000000 USD
CY2013Q3 us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
2000000 USD
CY2013Q3 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
557000000 USD
CY2013Q3 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
3000000 USD
us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
23000000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
1819000000 USD
us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-406000000 USD
rig Other Nonoperating Income Expense And Gain Loss On Retirement Of Debt
OtherNonoperatingIncomeExpenseAndGainLossOnRetirementOfDebt
-21000000 USD
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-427000000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
1392000000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
214000000 USD
us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
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