ENSCO PLC, 10-Q filed on 7/30/2015
Quarterly Report
Document And Entity Information
6 Months Ended
Jun. 30, 2015
Jul. 24, 2015
Document And Entity Information [Abstract]
 
 
Document Type
10-Q 
 
Amendment Flag
false 
 
Document Period End Date
Jun. 30, 2015 
 
Document Fiscal Year Focus
2015 
 
Document Fiscal Period Focus
Q2 
 
Entity Registrant Name
Ensco plc 
 
Entity Central Index Key
0000314808 
 
Current Fiscal Year End Date
--12-31 
 
Entity Filer Category
Large Accelerated Filer 
 
Entity Common Shares, Shares Outstanding
 
235,678,744 
Condensed Consolidated Statements Of Income (USD $)
In Millions, except Per Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Income Statement [Abstract]
 
 
 
 
OPERATING REVENUES
$ 1,059.0 
$ 1,136.6 
$ 2,222.9 
$ 2,203.3 
OPERATING EXPENSES
 
 
 
 
Contract drilling (exclusive of depreciation)
502.6 
542.5 
1,020.9 
1,062.7 
Asset Impairment Charges
703.5 
703.5 
Depreciation
140.5 
132.2 
277.6 
263.3 
General and administrative
29.7 
36.2 
59.8 
74.3 
Total operating expenses
672.8 
1,414.4 
1,358.3 
2,103.8 
OPERATING (LOSS) INCOME
386.2 
(277.8)
864.6 
99.5 
OTHER INCOME (EXPENSE)
 
 
 
 
Interest income
3.4 
3.5 
5.8 
7.1 
Interest expense, net
(51.2)
(36.4)
(103.6)
(71.0)
Other, net
(7.6)
2.1 
(30.2)
4.0 
Other income (expense), net
(55.4)
(30.8)
(128.0)
(59.9)
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES
330.8 
(308.6)
736.6 
39.6 
PROVISION FOR INCOME TAXES
 
 
 
 
Current income tax expense
43.9 
47.2 
106.6 
102.4 
Deferred income tax (benefit) expense
14.1 
(4.6)
29.1 
(10.3)
Total provision for income taxes
58.0 
42.6 
135.7 
92.1 
INCOME FROM CONTINUING OPERATIONS
272.8 
(351.2)
600.9 
(52.5)
DISCONTINUED OPERATIONS
 
 
 
 
Discontinued operations, net
10.1 
818.4 
10.3 
820.4 
NET INCOME
262.7 
(1,169.6)
590.6 
(872.9)
NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS
(2.4)
(3.1)
(5.6)
(7.3)
NET INCOME ATTRIBUTABLE TO ENSCO
260.3 
(1,172.7)
585.0 
(880.2)
EARNINGS PER SHARE - BASIC AND DILUTED
 
 
 
 
Income (Loss) from Continuing Operations, Per Basic and Diluted Share
$ 1.15 
$ (1.53)
$ 2.53 
$ (0.27)
Discontinued Operation, Income (Loss) from Discontinued Operation, Net of Tax, Per Basic and Diluted Share
$ (0.04)
$ (3.54)
$ (0.04)
$ (3.55)
Earnings Per Share, Basic and Diluted
$ 1.11 
$ (5.07)
$ 2.49 
$ (3.82)
NET INCOME ATTRIBUTABLE TO ENSCO SHARES - BASIC AND DILUTED
$ 256.7 
$ (1,174.8)
$ 577.7 
$ (884.1)
WEIGHTED-AVERAGE SHARES OUTSTANDING
 
 
 
 
Basic (in shares)
232.1 
231.5 
232.0 
231.4 
Diluted (in shares)
232.2 
231.5 
232.1 
231.4 
CASH DIVIDENDS PER SHARE (in dollars per share)
$ 0.150 
$ 0.750 
$ 0.300 
$ 1.500 
Condensed Consolidated Statements of Comprehensive Income (USD $)
In Millions, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Statement of Comprehensive Income [Abstract]
 
 
 
 
NET INCOME
$ 262.7 
$ (1,169.6)
$ 590.6 
$ (872.9)
OTHER COMPREHENSIVE (LOSS) INCOME, NET
 
 
 
 
Net change in fair value of derivatives
8.7 
5.0 
(8.7)
9.9 
Reclassification of net losses (gains) on derivative instruments from other comprehensive income into net income
5.1 
(2.4)
10.1 
(1.9)
Other
(1.3)
0.5 
1.3 
0.5 
NET OTHER COMPREHENSIVE (LOSS) INCOME
12.5 
3.1 
2.7 
8.5 
COMPREHENSIVE INCOME
275.2 
(1,166.5)
593.3 
(864.4)
COMPREHENSIVE INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS
(2.4)
(3.1)
(5.6)
(7.3)
COMPREHENSIVE INCOME ATTRIBUTABLE TO ENSCO
$ 272.8 
$ (1,169.6)
$ 587.7 
$ (871.7)
Condensed Consolidated Balance Sheets (USD $)
In Millions, unless otherwise specified
Jun. 30, 2015
Dec. 31, 2014
CURRENT ASSETS
 
 
Cash and cash equivalents
$ 648.3 
$ 664.8 
Short-term Investments
650.0 
757.3 
Accounts receivable, net
714.4 
883.3 
Other
627.9 
629.4 
Total current assets
2,640.6 
2,934.8 
PROPERTY AND EQUIPMENT, AT COST
15,886.8 
14,975.5 
Less accumulated depreciation
2,716.9 
2,440.7 
Property and equipment, net
13,169.9 
12,534.8 
Goodwill
276.1 
276.1 
OTHER ASSETS, NET
251.5 
314.2 
TOTAL ASSETS
16,338.1 
16,059.9 
CURRENT LIABILITIES
 
 
Accounts payable - trade
318.9 
373.2 
Accrued liabilities and other
595.0 
696.6 
Current maturities of long-term debt
14.4 
34.8 
Total current liabilities
928.3 
1,104.6 
LONG-TERM DEBT
5,911.3 
5,885.6 
DEFERRED INCOME TAXES
210.0 
179.5 
OTHER LIABILITIES
526.6 
667.3 
COMMITMENTS AND CONTINGENCIES
   
   
ENSCO SHAREHOLDERS' EQUITY
 
 
Additional paid-in capital
5,538.7 
5,517.5 
Retained earnings
3,236.0 
2,720.4 
Accumulated other comprehensive income
14.6 
11.9 
Treasury shares, at cost
(63.1)
(59.0)
Total Ensco shareholders' equity
8,750.6 
8,215.0 
NONCONTROLLING INTERESTS
11.3 
7.9 
Total equity
8,761.9 
8,222.9 
Total liabilities and shareholders' equity
16,338.1 
16,059.9 
Class A ordinary shares, U.S. [Member]
 
 
ENSCO SHAREHOLDERS' EQUITY
 
 
Common shares, value
24.3 
24.1 
Common Class B, Par Value In GBP [Member]
 
 
ENSCO SHAREHOLDERS' EQUITY
 
 
Common shares, value
$ 0.1 
$ 0.1 
Condensed Consolidated Balance Sheets (Parenthetical)
Jun. 30, 2015
Dec. 31, 2014
Jun. 30, 2015
Class A ordinary shares, U.S. [Member]
USD ($)
Dec. 31, 2014
Class A ordinary shares, U.S. [Member]
USD ($)
Jun. 30, 2015
Common Class B, Par Value In GBP [Member]
GBP (£)
Dec. 31, 2014
Common Class B, Par Value In GBP [Member]
GBP (£)
Common stock, par value per share (in dollars per share or pounds sterling per share)
 
 
$ 0.1 
$ 0.10 
£ 1 
£ 1 
Common shares, shares authorized (in shares)
 
 
450,000,000.0 
450,000,000 
50,000 
50,000 
Common shares, shares issued (in shares)
 
 
243,100,000 
240,700,000 
50,000 
50,000 
Treasury shares, shares held (in shares)
7,400,000 
6,500,000 
 
 
 
 
Condensed Consolidated Statements Of Cash Flows (USD $)
In Millions, unless otherwise specified
6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
OPERATING ACTIVITIES
 
 
Net income
$ 590.6 
$ (872.9)
Adjustments to reconcile net income to net cash provided by operating activities of continuing operations:
 
 
Discontinued operations, net
10.3 
820.4 
Asset Impairment Charges
703.5 
Depreciation expense
277.6 
263.3 
Deferred income tax (benefit) expense
29.1 
(10.3)
Share-based compensation expense
23.0 
24.2 
Gains (Losses) on Extinguishment of Debt
(33.5)
Amortization of intangibles and other, net
(13.0)
(4.2)
Other
(9.9)
(3.6)
Changes in operating assets and liabilities
(50.2)
42.5 
Net cash provided by operating activities of continuing operations
891.0 
962.9 
INVESTING ACTIVITIES
 
 
Additions to property and equipment
(913.9)
(629.7)
Maturities of short-term investments
757.3 
50.0 
Payments to Acquire Marketable Securities
(650.0)
(33.3)
Other
1.1 
2.4 
Net Cash Provided by (Used in) Investing Activities, Continuing Operations
(805.5)
(610.6)
FINANCING ACTIVITIES
 
 
Proceeds from Issuance of Senior Long-term Debt
1,078.7 
Cash dividends paid
(70.5)
(351.2)
Reduction of long-term borrowings
(1,058.0)
(23.7)
Payments of Debt Issuance Costs
(10.5)
Payments of Debt Extinguishment Costs
(30.3)
Other
(6.8)
(13.4)
Net cash provided by (used in) financing activities
(97.4)
(388.3)
DISCONTINUED OPERATIONS
 
 
Operating activities
(4.2)
(41.5)
Investing activities
(0.6)
56.7 
Net cash provided by discontinued operations
(4.8)
15.2 
Effect of exchange rate changes on cash and cash equivalents
0.2 
0.2 
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS
(16.5)
(20.6)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD
664.8 
165.6 
CASH AND CASH EQUIVALENTS, END OF PERIOD
$ 648.3 
$ 145.0 
Unaudited Condensed Consolidated Financial Statements
Unaudited Condensed Consolidated Financial Statements
Unaudited Condensed Consolidated Financial Statements
 
We prepared the accompanying condensed consolidated financial statements of Ensco plc and subsidiaries (the "Company," "Ensco," "our," "we" or "us") in accordance with accounting principles generally accepted in the United States of America ("GAAP"), pursuant to the rules and regulations of the Securities and Exchange Commission (the "SEC") included in the instructions to Form 10-Q and Article 10 of Regulation S-X. The financial information included in this report is unaudited but, in our opinion, includes all adjustments (consisting of normal recurring adjustments) that are necessary for a fair presentation of our financial position, results of operations and cash flows for the interim periods presented. The December 31, 2014 condensed consolidated balance sheet data were derived from our 2014 audited consolidated financial statements, but do not include all disclosures required by GAAP. Certain previously reported amounts have been reclassified to conform to the current year presentation. The preparation of our condensed consolidated financial statements requires management to make certain estimates, judgments and assumptions that affect the reported amounts of assets and liabilities, the related revenues and expenses and disclosures of gain and loss contingencies as of the date of the financial statements. Actual results could differ from those estimates.
 
The financial data for the three-month and six-month periods ended June 30, 2015 and 2014 included herein have been subjected to a limited review by KPMG LLP, our independent registered public accounting firm. The accompanying independent registered public accounting firm's review report is not a report within the meaning of Sections 7 and 11 of the Securities Act of 1933, and the independent registered public accounting firm's liability under Section 11 does not extend to it.
 
Results of operations for the three-month and six-month periods ended June 30, 2015 are not necessarily indicative of the results of operations that will be realized for the year ending December 31, 2015. We recommend these condensed consolidated financial statements be read in conjunction with our annual report on Form 10-K for the year ended December 31, 2014 filed with the SEC on March 2, 2015, and our quarterly report on Form 10-Q filed with the SEC on April 30, 2015.

New Accounting Pronouncements

During 2015, the Financial Accounting Standards Board issued Accounting Standards Update 2015-03, Interest - Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs ("Update 2015-03"), which requires that debt issuance costs related to a recognized debt liability be presented on the balance sheet as a direct deduction from the carrying amount of the related debt liability, consistent with debt discounts. Update 2015-03 is effective for annual and interim periods for fiscal years beginning after December 15, 2015. Early application is permitted. We will adopt the accounting standard on a retrospective basis effective January 1, 2016. There will be no impact to the manner in which debt issuance costs are amortized in our condensed consolidated financial statements.

During 2014, the Financial Accounting Standards Board issued Accounting Standards Update 2014-09, Revenue from Contracts with Customers (Topic 606) ("Update 2014-09"), which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. In July 2015, the Financial Accounting Standards Board voted to delay the effective date one year. The ASU is now effective for annual and interim periods for fiscal years beginning after December 15, 2017, though companies have an option of adopting the standard for fiscal years beginning after December 15, 2016. The ASU will replace most existing revenue recognition guidance in U.S. GAAP and may be adopted using a retrospective, modified retrospective or prospective with a cumulative catch-up approach. We are currently evaluating the effect that ASU 2014-09 will have on our condensed consolidated financial statements and related disclosures.
Fair Value Measurements
Fair Value Measurements
Fair Value Measurements
 
The following fair value hierarchy table categorizes information regarding our net financial assets measured at fair value on a recurring basis (in millions):
 
Quoted Prices in Active Markets for Identical Assets
(Level 1)
 
Significant Other Observable Inputs
(Level 2)
 
Significant Unobservable Inputs
(Level 3)
 
Total
As of June 30, 2015
 
 
 

 
 

 
 

Supplemental executive retirement plan assets 
$
44.8

 
$

 
$

 
$
44.8

Total financial assets
$
44.8

 
$

 
$

 
$
44.8

Derivatives, net 
$

 
$
(16.4
)
 
$

 
$
(16.4
)
Total financial liabilities
$

 
$
(16.4
)
 
$

 
$
(16.4
)
 
 
 
 
 
 
 
 
As of December 31, 2014
 
 
 

 
 

 
 

Supplemental executive retirement plan assets
$
43.2

 
$

 
$

 
$
43.2

Total financial assets
$
43.2

 
$

 
$

 
$
43.2

Derivatives, net 

 
(26.3
)
 

 
(26.3
)
Total financial liabilities
$

 
$
(26.3
)
 
$

 
$
(26.3
)


Supplemental Executive Retirement Plan Assets
 
Our supplemental executive retirement plans (the "SERP") are non-qualified plans that provide eligible employees an opportunity to defer a portion of their compensation for use after retirement. Assets held in the SERP were marketable securities measured at fair value on a recurring basis using Level 1 inputs and were included in other assets, net, on our condensed consolidated balance sheets. The fair value measurement of assets held in the SERP was based on quoted market prices.
 
Derivatives
 
Our derivatives were measured at fair value on a recurring basis using Level 2 inputs. See "Note 3 - Derivative Instruments" for additional information on our derivatives, including a description of our foreign currency hedging activities and related methodologies used to manage foreign currency exchange rate risk. The fair value measurement of our derivatives was based on market prices that are generally observable for similar assets or liabilities at commonly-quoted intervals.
 
Other Financial Instruments
 
The carrying values and estimated fair values of our long-term debt instruments were as follows (in millions):
 
June 30,
2015
 
December 31,
2014
 
Carrying Value  
 
Estimated Fair Value  
 
Carrying Value  
 
Estimated Fair Value  
4.70% Senior notes due 2021
$
1,481.3

 
$
1,554.1

 
$
1,479.9

 
$
1,505.3

5.75% Senior notes due 2044
1,003.8

 
1,015.6

 
622.3

 
615.8

6.875% Senior notes due 2020
999.7

 
1,029.1

 
1,008.2

 
1,008.5

5.20% Senior notes due 2025
697.4

 
696.4

 

 

4.50% Senior notes due 2024
624.2

 
592.3

 
624.2

 
602.0

8.50% Senior notes due 2019
575.2

 
593.0

 
583.8

 
611.8

7.875% Senior notes due 2040
380.5

 
333.0

 
381.2

 
363.8

7.20% Debentures due 2027
149.2

 
177.2

 
149.2

 
171.4

4.33% MARAD bonds, including current maturities, due 2016
14.4

 
14.5

 
46.6

 
46.8

4.65% MARAD bonds, including current maturities, due 2020

 

 
27.0

 
29.7

3.25% Senior notes due 2016

 

 
998.0

 
1,018.3

Total
$
5,925.7

 
$
6,005.2

 
$
5,920.4

 
$
5,973.4



The estimated fair values of our senior notes and debentures were determined using quoted market prices. The estimated fair values of our Maritime Administration ("MARAD") bonds were determined using an income approach valuation model.

The estimated fair values of our cash and cash equivalents, short-term investments, receivables, trade payables and other liabilities approximated their carrying values as of June 30, 2015 and December 31, 2014.
Derivative Instruments
Derivative Instruments
Derivative Instruments
    
Our functional currency is the U.S. dollar. As is customary in the oil and gas industry, a majority of our revenues are denominated in U.S. dollars; however, a portion of the revenues earned and expenses incurred by certain of our subsidiaries are denominated in currencies other than the U.S. dollar ("foreign currencies"). These transactions are remeasured in U.S. dollars based on a combination of both current and historical exchange rates. We use foreign currency forward contracts to reduce our exposure to various market risks, primarily foreign currency exchange rate risk.
 
All derivatives were recorded on our condensed consolidated balance sheets at fair value. Derivatives subject to legally enforceable master netting agreements were not offset in our condensed consolidated balance sheets. Accounting for the gains and losses resulting from changes in the fair value of derivatives depends on the use of the derivative and whether it qualifies for hedge accounting.  Net liabilities of $16.4 million and $26.3 million associated with our foreign currency forward contracts were included on our condensed consolidated balance sheets as of June 30, 2015 and December 31, 2014, respectively.  All of our derivatives mature during the next 18 months.  See "Note 2 - Fair Value Measurements" for additional information on the fair value measurement of our derivatives.
 
Derivatives recorded at fair value on our condensed consolidated balance sheets consisted of the following (in millions):
 
Derivative Assets
 
Derivative Liabilities
 
June 30,
2015
 
December 31,
2014
 
June 30,
2015
 
December 31,
2014
Derivatives Designated as Hedging Instruments
 
 
 

 
 

 
 

Foreign currency forward contracts - current(1)
$
1.4

 
$
.4

 
$
18.8

 
$
17.2

Foreign currency forward contracts - non-current(2)
.9

 
.1

 
.9

 
2.9

 
2.3

 
.5

 
19.7

 
20.1

 
 
 
 
 
 
 
 
Derivatives Not Designated as Hedging Instruments
 
 
 

 
 

 
 

Foreign currency forward contracts - current(1)
2.2

 
.2

 
1.2

 
6.9

 
2.2

 
.2

 
1.2

 
6.9

Total
$
4.5

 
$
.7

 
$
20.9

 
$
27.0

 
(1) 
Derivative assets and liabilities that have maturity dates equal to or less than twelve months from the respective balance sheet date were included in other current assets and accrued liabilities and other, respectively, on our condensed consolidated balance sheets.

(2) 
Derivative assets and liabilities that have maturity dates greater than twelve months from the respective balance sheet date were included in other assets, net, and other liabilities, respectively, on our condensed consolidated balance sheets.
 
We utilize cash flow hedges to hedge forecasted foreign currency denominated transactions, primarily to reduce our exposure to foreign currency exchange rate risk associated with contract drilling expenses and capital expenditures denominated in various currencies. As of June 30, 2015, we had cash flow hedges outstanding to exchange an aggregate $359.3 million for various foreign currencies, including $164.1 million for British pounds, $92.9 million for Brazilian reais, $41.7 million for euros, $23.6 million for Singapore dollars, $21.6 million for Australian dollars and $15.4 million for other currencies.

Gains and losses, net of tax, on derivatives designated as cash flow hedges included in our condensed consolidated statements of operations and comprehensive income were as follows (in millions):

Three Months Ended June 30, 2015 and 2014
 
Gain Recognized in Other Comprehensive Income (Effective Portion)  
 
(Loss) Gain Reclassified from Accumulated Other Comprehensive Income ("AOCI") into Income (Effective Portion)(1)
 
Gain Recognized in Income on Derivatives (Ineffective Portion and Amount Excluded from Effectiveness Testing)(2)
 
2015
 
2014
 
2015
 
2014
 
2015
 
2014
Interest rate lock contracts(3)
$

 
$

 
$
(.4
)
 
$
(.1
)
 
$

 
$

Foreign currency forward contracts(4)
8.7

 
5.0

 
(4.7
)
 
2.5

 
.3

 
1.2

Total
$
8.7

 
$
5.0

 
$
(5.1
)
 
$
2.4

 
$
.3

 
$
1.2


Six Months Ended June 30, 2015 and 2014
 
(Loss) Gain Recognized in Other Comprehensive Income (Effective Portion)  
 
(Loss) Gain Reclassified from AOCI into Income (Effective Portion)(1)
 
Gain Recognized in Income on Derivatives (Ineffective Portion and Amount Excluded from Effectiveness Testing)(2)
 
2015
 
2014
 
2015
 
2014
 
2015
 
2014
Interest rate lock contracts(3)
$

 
$

 
$
(.5
)
 
$
(.2
)
 
$

 
$

Foreign currency forward contracts(5)
(8.7
)
 
9.9

 
(9.6
)
 
2.1

 
.2

 
1.9

Total
$
(8.7
)
 
$
9.9

 
$
(10.1
)
 
$
1.9

 
$
.2

 
$
1.9



(1)
Changes in the fair value of cash flow hedges are recorded in AOCI.  Amounts recorded in AOCI associated with cash flow hedges are subsequently reclassified into contract drilling, depreciation or interest expense as earnings are affected by the underlying hedged forecasted transaction.

(2)
Gains and losses recognized in income for ineffectiveness and amounts excluded from effectiveness testing were included in other, net, in our condensed consolidated statements of operations.

(3)
Losses on interest rate lock derivatives reclassified from AOCI into income (effective portion) were included in interest expense, net in our condensed consolidated statements of operations.

(4) 
During the three-month period ended June 30, 2015, $4.9 million of losses were reclassified from AOCI into contract drilling expense and $200,000 of gains were reclassified from AOCI into depreciation expense in our condensed consolidated statement of operations. During the three-month period ended June 30, 2014, $2.3 million of gains were reclassified from AOCI into contract drilling expense and $200,000 of gains were reclassified from AOCI into depreciation expense in our condensed consolidated statement of operations.

(5) 
During the six-month period ended June 30, 2015, $10.0 million of losses were reclassified from AOCI into contract drilling expense and $400,000 of gains were reclassified from AOCI into depreciation expense in our condensed consolidated statement of operations. During the six-month period ended June 30, 2014, $1.7 million of gains were reclassified from AOCI into contract drilling expense and $400,000 of gains were reclassified from AOCI into depreciation expense in our condensed consolidated statement of operations.

We have net assets and liabilities denominated in numerous foreign currencies and use various methods to manage our exposure to foreign currency exchange rate risk. We predominantly structure our drilling contracts in U.S. dollars, which significantly reduces the portion of our cash flows and assets denominated in foreign currencies. We occasionally enter into derivatives that hedge the fair value of recognized foreign currency denominated assets or liabilities but do not designate such derivatives as hedging instruments.  In these situations, a natural hedging relationship generally exists whereby changes in the fair value of the derivatives offset changes in the fair value of the underlying hedged items. As of June 30, 2015, we held derivatives not designated as hedging instruments to exchange an aggregate $169.5 million for various foreign currencies, including $86.5 million for euros, $23.2 million for Swiss francs, $15.4 million for British pounds, $15.1 million for Indonesian rupiah, $12.8 million for Mexican Pesos and $16.5 million for other currencies.
     
Net gains of $4.5 million and $900,000 associated with our derivatives not designated as hedging instruments were included in other, net, in our condensed consolidated statements of operations for the three-month periods ended June 30, 2015 and 2014, respectively. Net losses of $9.0 million and net gains of $300,000 associated with our derivatives not designated as hedging instruments were included in other, net in our condensed consolidated statements of operations for the six-month periods ended June 30, 2015 and 2014, respectively. These gains and losses were largely offset by net foreign currency exchange gains and losses during the respective periods.

As of June 30, 2015, the estimated amount of net losses associated with derivative instruments, net of tax, that would be reclassified into earnings during the next twelve months totaled $9.9 million.
Noncontrolling Interests (Notes)
Noncontrolling Interests
Noncontrolling Interests

Third parties hold a noncontrolling ownership interest in certain of our non-U.S. subsidiaries. Noncontrolling interests are classified as equity on our condensed consolidated balance sheets, and net income attributable to noncontrolling interests is presented separately in our condensed consolidated statements of operations.
    
Income (loss) from continuing operations attributable to Ensco for the three-month and six-month periods ended June 30, 2015 and 2014 was as follows (in millions):
 
Three Months Ended
June 30,
 
Six Months Ended
June 30,
 
2015
 
2014
 
2015
 
2014
Income (loss) from continuing operations
$
272.8

 
$
(351.2
)
 
$
600.9

 
$
(52.5
)
Income from continuing operations attributable to noncontrolling interests
(2.4
)
 
(3.0
)
 
(5.6
)
 
(7.1
)
Income (loss) from continuing operations attributable to Ensco
$
270.4

 
$
(354.2
)
 
$
595.3

 
$
(59.6
)


Loss from discontinued operations attributable to Ensco for the three-month and six-month periods ended June 30, 2015 and 2014 was as follows (in millions):

 
Three Months Ended
June 30,
 
Six Months Ended
June 30,
 
2015
 
2014
 
2015
 
2014
Loss from discontinued operations, net
$
(10.1
)
 
$
(818.4
)
 
$
(10.3
)
 
$
(820.4
)
Income from discontinued operations attributable to noncontrolling interests

 
(.1
)
 

 
(.2
)
Loss from discontinued operations attributable to Ensco
$
(10.1
)
 
$
(818.5
)
 
$
(10.3
)
 
$
(820.6
)
Earnings Per Share
Earnings Per Share
Earnings Per Share
 
We compute basic and diluted earnings per share ("EPS") in accordance with the two-class method. Net income (loss) attributable to Ensco used in our computations of basic and diluted EPS is adjusted to exclude net income allocated to non-vested shares granted to our employees and non-employee directors. Weighted-average shares outstanding used in our computation of diluted EPS is calculated using the treasury stock method and excludes non-vested shares.
    
The following table is a reconciliation of income (loss) from continuing operations attributable to Ensco shares used in our basic and diluted EPS computations for the three-month and six-month periods ended June 30, 2015 and 2014 (in millions):
 
Three Months Ended
June 30,
 
Six Months Ended
June 30,
 
2015
 
2014
 
2015
 
2014
Income (loss) from continuing operations attributable to Ensco
$
270.4

 
$
(354.2
)
 
$
595.3

 
$
(59.6
)
Income from continuing operations allocated to non-vested share awards
(3.7
)
 
(2.1
)
 
(7.4
)
 
(3.9
)
Income (loss) from continuing operations attributable to Ensco shares
$
266.7

 
$
(356.3
)
 
$
587.9

 
$
(63.5
)

 
The following table is a reconciliation of the weighted-average shares used in our basic and diluted EPS computations for the three-month and six-month periods ended June 30, 2015 and 2014 (in millions):
 
Three Months Ended
June 30,
 
Six Months Ended
June 30,
 
2015
 
2014
 
2015
 
2014
Weighted-average shares - basic
232.1

 
231.5

 
232.0

 
231.4

Potentially dilutive shares
.1

 

 
.1

 

Weighted-average shares - diluted
232.2

 
231.5

 
232.1

 
231.4


 
Antidilutive share options totaling 500,000 were excluded from the computation of diluted EPS for the three-month and six-month periods ended June 30, 2015 and 2014.
Debt (Notes)
Debt Disclosure [Text Block]
Debt

Senior Notes

During the first quarter of 2015, we issued $700.0 million aggregate principal amount of unsecured 5.20% senior notes due 2025 (the “2025 Notes”) at a discount of $2.6 million and $400.0 million aggregate principal amount of unsecured 5.75% senior notes due 2044 (the “New 2044 Notes”) at a discount of $18.7 million in a public offering. Interest on the 2025 Notes is payable semiannually on March 15 and September 15 of each year commencing September 15, 2015. Interest on the New 2044 Notes is payable semiannually on April 1 and October 1 of each year commencing on April 1, 2015.

The 2025 Notes were issued pursuant to the Indenture between us and Deutsche Bank Trust Company Americas, as trustee (the “Trustee”), dated March 17, 2011 (the “Base Indenture”), as supplemented by the Third Supplemental Indenture between us and the Trustee, dated as of March 12, 2015 (the “Third Supplemental Indenture”).  The New 2044 Notes were issued as additional notes under the Base Indenture, as supplemented by the Second Supplemental Indenture between us and the Trustee, dated September 29, 2014 (the “Second Supplemental Indenture”), pursuant to which we previously issued $625.0 million aggregate principal amount of 5.75% senior notes due 2044 (the “Existing 2044 Notes”) in September 2014 (the Base Indenture, as amended and supplemented by the Second Supplemental Indenture and the Third Supplement Indenture, the “Indenture”).  The New 2044 Notes and Existing 2044 Notes are treated as a single series of debt securities under the Indenture (collectively, the “2044 Notes”).

We may redeem the 2025 Notes and 2044 Notes, in whole at any time or in part from time to time, prior to maturity. If we elect to redeem the 2025 Notes before the date that is three months prior to the maturity date or the 2044 Notes before the date that is six months prior to the maturity date, we will pay an amount equal to 100% of the principal amount of the notes redeemed plus accrued and unpaid interest and a “make-whole” premium. If we elect to redeem the 2025 Notes or 2044 Notes on or after the aforementioned dates, we will pay an amount equal to 100% of the principal amount of the notes redeemed plus accrued and unpaid interest, but are not required to pay a "make-whole" premium.

The 2025 Notes, 2044 Notes and Indenture also contain customary events of default, including failure to pay principal or interest on the 2025 Notes or 2044 Notes when due, among others. The Indenture contains certain restrictions, including, among others, restrictions on our ability and the ability of our subsidiaries to create liens on certain assets, enter into certain sale-leaseback transactions, enter into certain merger or consolidation transactions or transfers of all or substantially all of our assets.

Redemption of 2016 Senior Notes and MARAD Obligations

During 2011, we issued $1.0 billion of 3.25% senior notes with a maturity in 2016 (the “2016 Notes”). In March 2015, we commenced a cash tender offer (the “Tender Offer”) for the $1.0 billion outstanding aggregate principal amount of our 2016 Notes. Senior notes totaling $854.6 million were settled on March 12, 2015 for $878.0 million (excluding accrued interest) using a portion of the net proceeds from the public offering of the 2025 Notes and New 2044 Notes. Under the terms of the Tender Offer, we paid a premium totaling approximately $23.4 million, which approximates the “make-whole” premium that would have been required had we elected to redeem the debt. The premium was recorded as a loss on debt extinguishment and included in other, net in our condensed consolidated statement of operations for the six-month period ended June 30, 2015. Additionally, we wrote-off $1.7 million of unamortized debt discount and $1.5 million of unamortized debt issuance costs associated with the $854.6 million of notes tendered, resulting in a total pre-tax loss on debt extinguishment of $26.6 million.

Concurrent with the settlement of the Tender Offer, we exercised our right to redeem the remaining 2016 Notes. In April 2015, we completed the redemption of the $145.4 million of 2016 Notes that remained outstanding using a portion of the net proceeds from the public offering of the 2025 Notes and New 2044 Notes. The redemption payment included a "make-whole" premium of $3.8 million which was recorded as a loss on debt extinguishment and included in other, net in our condensed consolidated statement of operations for the three-month and six-month periods ended June 30, 2015.

In April 2015, we used the remaining net proceeds from our March 2015 public offering, together with cash on hand, to redeem $51.0 million of our 4.33% MARAD notes due 2016 and our 4.65% MARAD bonds due 2020 (the “MARAD Obligations”). We incurred additional losses on debt extinguishment of $3.1 million, which were included in other, net in our condensed consolidated statement of operations for the three-month and six-month periods ended June 30, 2015. These losses primarily consisted of a "make-whole" premium.

In July 2015, we redeemed the remaining $14.3 million aggregate principal amount of the MARAD Obligations.

Revolving Credit
    
We have a $2.25 billion senior unsecured revolving credit facility with a syndicate of banks to be used for general corporate purposes with a term expiring on September 30, 2019 (the "Credit Facility"). Advances under the Credit Facility bear interest at Base Rate or LIBOR plus an applicable margin rate (currently 0.125% per annum for Base Rate advances and 1.125% per annum for LIBOR advances) depending on our credit rating. Amounts repaid may be re-borrowed during the term of the Credit Facility. We are required to pay a quarterly commitment fee (currently 0.125% per annum) on the undrawn portion of the $2.25 billion commitment which is also based on our credit rating. In addition to other customary restrictive covenants, the Credit Facility requires us to maintain a total debt to total capitalization ratio that is less than or equal to a specified percentage. In March 2015, we amended the Credit Facility to increase the percentage from 50% to 60%.
    
We have the right, subject to receipt of commitments from new or existing lenders, to increase the commitments under the Credit Facility to an aggregate amount of up to $2.75 billion. We had no amounts outstanding under the Credit Facility as of June 30, 2015 and December 31, 2014.
Impairment (Notes)
Impairment
Impairment

Impairment of Long-Lived Assets

On a quarterly basis, we evaluate the carrying value of our property and equipment to identify events or changes in circumstances ("triggering events") that indicate the carrying value may not be recoverable. During the second quarter, we concluded that a triggering event had occurred on several rigs due to contract concessions and performed an asset impairment analysis. Based on the analysis performed, we concluded the carrying values of these rigs were recoverable. We continue to have ongoing discussions with certain customers requesting contract concessions. The outcome of these negotiations remains uncertain; however, deterioration of existing contract terms and/or change in our long-term operating assumptions resulting from these negotiations could lead to a material impairment charge in future periods.

During the second quarter of 2014, demand for floaters deteriorated as a result of continued reduction in capital spending by customers in addition to delays in customers’ drilling programs. The reduction in demand, combined with the increasing supply from newbuild floater deliveries, led to a very competitive market. In general, contracting activity for floaters declined significantly, and new day rate fixtures were substantially lower than rates previously realized. In response to the adverse change in the floaters business climate, management evaluated our older, less capable floaters and committed to a plan to sell five rigs. ENSCO 5000, ENSCO 5001, ENSCO 5002, ENSCO 6000 and ENSCO 7500 were removed from our portfolio of rigs marketed for contract drilling services and actively marketed for sale. These rigs were written down to fair value, less costs to sell, as of May 31, 2014 and classified as "held for sale." We completed the sale of ENSCO 5000 during the fourth quarter of 2014 and ENSCO 5002 during the second quarter of 2015. The remaining three floaters were classified as "held for sale" on our June 30, 2015 condensed consolidated balance sheet.

We measured the fair value of the "held for sale" rigs by applying a market approach, which was based on unobservable third-party estimated prices that would be received in exchange for the assets in an orderly transaction between market participants. We recorded a pre-tax, non-cash loss on impairment totaling $546.4 million during the three-month and six-month periods ended June 30, 2014. The impairment charge was included in loss from discontinued operations, net in our condensed consolidated statement of operations for the three-month and six-month periods ended June 30, 2014. See "Note 9 - Discontinued Operations" for additional information on our "held for sale" rigs.

As a result of the adverse change in the floater business climate observed during the second quarter of 2014, management's commitment to a plan to sell five floaters during the second quarter of 2014 and the impairment charge incurred on the "held for sale" floaters, management concluded that a triggering event had occurred during the second quarter of 2014 and performed an asset impairment analysis on our remaining older, less capable floaters.

Based on the analysis performed as of May 31, 2014, we recorded an additional non-cash loss on impairment with respect to four other floaters totaling $991.5 million, of which $288.0 million related to ENSCO DS-2 which was removed from our portfolio of rigs marketed for contract drilling services during the fourth quarter of 2014. As a result, the ENSCO DS-2 impairment charge was reclassified to loss from discontinued operations, net in our condensed consolidated statement of operations for the three-month and six-month periods ended June 30, 2014. The remaining $703.5 million impairment charge was included in loss on impairment in our condensed consolidated statement of operations for the three-month and six-month periods ended June 30, 2014. We measured the fair value of these rigs by applying an income approach, using projected discounted cash flows. These valuations were based on unobservable inputs that require significant judgments for which there is limited information, including assumptions regarding future day rates, utilization, operating costs and capital requirements.
Share-Based Compensation
Share-Based Compensation
Shareholders' Equity

Consistent with prior years' practice, during the three-month period ended June 30, 2015, we granted 1.7 million non-vested share awards to our employees, officers and non-employee directors for annual equity awards and for equity awards granted to new or recently promoted employees, pursuant to our 2012 Long-Term Incentive Plan. Grants of non-vested share awards generally vest at rates of 20% or 33% per year, as determined by a committee or subcommittee of the Board of Directors at the time of the grant. Our non-vested share awards have dividend rights effective on the date of grant and are measured at fair value using the market value of our shares on the date of grant. The weighted-average grant-date fair value of non-vested share awards granted during the three-month period ended June 30, 2015 was $23.41 per share.
Discontinued Operations (Notes)
Discontinued Operations
Discontinued Operations
    
During 2014, management committed to a plan to sell six floaters and two jackups. ENSCO 5000, ENSCO 5001, ENSCO 5002, ENSCO 6000, ENSCO 7500, ENSCO DS-2, ENSCO 58 and ENSCO 90 were removed from our portfolio of rigs marketed for contract drilling services. These rigs were written down to fair value, less costs to sell. We measured the fair value of these rigs by applying a market approach, which was based on unobservable third-party estimated prices that would be received in exchange for the assets in an orderly transaction between market participants. The operating results from these rigs were included in loss from discontinued operations, net in our condensed consolidated statements of operations for the three-month and six-month periods ended June 30, 2015 and 2014. On a quarterly basis, we reassess the fair values of our "held for sale" assets to determine whether any adjustments to the carrying values are necessary.

During the three-month period ended June 30, 2015, we sold ENSCO 5002 for net proceeds of $1.6 million. The proceeds from the sale were included in investing activities of discontinued operations in our condensed consolidated statement of cash flows for the six-month period ended June 30, 2015. We recognized a pre-tax gain of $1.6 million in connection with the disposal. The gain on sale was included in loss from discontinued operations, net in our condensed consolidated statement of operations for the three-month and six-month periods ended June 30, 2015.

During the fourth quarter of 2014, we completed the sale of ENSCO 5000 for net proceeds of $1.3 million. The remaining six rigs (ENSCO 5001, ENSCO 6000, ENSCO 7500, ENSCO DS-2, ENSCO 58 and ENSCO 90) are being actively marketed and were classified as "held for sale" on our June 30, 2015 condensed consolidated balance sheet.

During the third quarter of 2014, we sold ENSCO 93, a jackup contracted to Pemex. In connection with the sale, we executed a charter agreement with the purchaser to continue operating the rig for the remainder of the Pemex contract, which ended in June 2015. As a result, ENSCO 93 operating results were included in loss from discontinued operations, net in our condensed consolidated statement of operations for the three-month and six-month periods ended June 30, 2015 and 2014.

During the three-month period ended June 30, 2014, we sold jackup rig ENSCO 85 for net proceeds of $64.4 million. The proceeds from the sale were included in investing activities of discontinued operations in our condensed consolidated statement of cash flows for the six-month period ended June 30, 2014. We recognized a pre-tax gain of $10.3 million in connection with the disposal. The gain on sale and operating results were included in loss from discontinued operations, net in our condensed consolidated statement of operations for the three-month and six-month periods ended June 30, 2014.

During the six-month period ended June 30, 2014, we sold ENSCO 69 and Pride Wisconsin for net proceeds of $32.2 million and recorded a pre-tax gain of $23.6 million. The gain on sale and operating results were included in loss from discontinued operations, net in our condensed consolidated statement of operations for the six-month period ended June 30, 2014. The net proceeds from the sale were received in December 2013 and included in investing activities of discontinued operations in our condensed consolidated statement of cash flows for the year ended December 31, 2013.

The following table summarizes loss from discontinued operations, net for the three-month and six-month periods ended June 30, 2015 and 2014 (in millions):
 
Three Months Ended
June 30,
 
Six Months Ended
June 30,
 
2015
 
2014
 
2015
 
2014
Revenues
$
8.1

 
$
99.1

 
$
17.7

 
$
219.4

Operating expenses
11.3

 
114.9

 
33.2

 
251.6

Operating loss
(3.2
)

(15.8
)
 
(15.5
)
 
(32.2
)
Income tax (expense) benefit
(2.9
)
 
(6.5
)
 
9.2

 
(11.5
)
Loss on impairment, net
(7.2
)
 
(796.8
)
 
(7.2
)
 
(796.8
)
Gain on disposal of discontinued operations, net
3.2

 
.7

 
3.2

 
20.1

Loss from discontinued operations, net
$
(10.1
)
 
$
(818.4
)
 
$
(10.3
)
 
$
(820.4
)


Income tax benefit from discontinued operations for the six-month period ended June 30, 2015 included $13.3 million of discrete tax benefits. 

Debt and interest expense are not allocated to our discontinued operations.
Income Taxes
Income Taxes
Income Taxes
 
Our consolidated effective income tax rate for the three-month and six-month periods ended June 30, 2015 was 17.5% and 18.4%, respectively. There were no material discrete tax items for the three-month period ended June 30, 2015. Excluding the impact of discrete income tax items for the six-month period ended June 30, 2015, our consolidated effective income tax rate was 17.5%. These discrete tax items were primarily attributable to the recognition of liabilities for unrecognized tax benefits associated with tax positions taken in prior years.

Excluding the impact of the $703.5 million loss on impairment and discrete income tax expense, our consolidated effective income tax rate for the three-month and six-month periods ended June 30, 2014 was 10.4% and 10.5%, respectively.

The increase in our effective tax rate, excluding discrete items, during 2015 is primarily attributable to an increase in the relative components of our estimated 2015 earnings, excluding discrete items, generated in tax jurisdictions with higher tax rates and tax legislation enacted by the U.K. government that became effective on April 1, 2014.
Contingencies
Contingencies
Contingencies

Brazil Internal Investigation

Pride International, Inc. (“Pride”) commenced drilling operations in Brazil during 2001, and, in 2008, entered into a drilling contract with Petrobras for DS-5, a rig Pride had ordered from a shipyard in South Korea. At the time Ensco acquired Pride in mid-2011, Pride’s Brazil fleet had grown to ten rigs.

Beginning in 2006, Pride conducted periodic compliance reviews of its business with Petrobras, and, after the acquisition, Ensco conducted similar compliance reviews, the most recent of which commenced after media reports surfaced regarding ongoing investigations of various kickback and bribery schemes in Brazil.

While conducting our most recent compliance review, we became aware of an internal audit report prepared by Petrobras, after media reports surfaced regarding its contents. The audit report alleges irregularities in relation to DS-5 - specifically, that Petrobras overpaid under the DS-5 drilling contract, purportedly because the terms of the DS-5 contract were more favorable to Pride than the terms that Petrobras had negotiated with other offshore drilling contractors during that time. We believe this allegation by Petrobras is inaccurate, as publicly available data show that the DS-5 contract terms were comparable to other contracts signed by Petrobras in late 2007 and early 2008. We have provided this information to Petrobras as relevant to their internal audit report. Petrobras submitted its internal audit report to Brazilian governmental authorities, who have subsequently requested a copy of the DS-5 drilling contract from Petrobras.

Statements from the internal audit report, including those relating to alleged overpayments for the DS-5 contract, were subsequently cited along with other allegations in Brazilian court procedural documents used in the arrest of a former Petrobras director. While the Petrobras internal audit report became public more than two months ago, we have not been contacted by Brazil authorities.

Nevertheless, upon learning of the Petrobras internal audit report, our Audit Committee expanded the scope of our most recent review of our business with Petrobras. Also, our Audit Committee appointed independent counsel to commission and undertake an internal investigation to examine the facts and circumstances surrounding the allegations set forth in the internal audit report and court documents related to the arrest of the former Petrobras director. Our investigation is ongoing, but to date we have found no evidence that Pride was involved in any wrongdoing.

Our rigs working for Petrobras continue to operate under their existing contracts. Further, we have voluntarily contacted the SEC and the U.S. Department of Justice (“DOJ”) to advise them of the internal audit report and our Audit Committee’s independent investigation. We cannot predict whether any governmental authority will seek to investigate this matter, or if a proceeding were opened, the scope or ultimate outcome of any such investigation. If the SEC or DOJ determines that violations of the U.S. Foreign Corrupt Practices Act of 1977 (the "FCPA") have occurred, or if any governmental authority determines that we have violated applicable anti-bribery laws, they could seek civil and criminal sanctions, including monetary penalties, against us, as well as changes to our business practices and compliance programs, any of which could have a material adverse effect on our business and financial condition.

ENSCO 74 Loss

During 2008, ENSCO 74 was lost as a result of Hurricane Ike in the U.S. Gulf of Mexico.  The ENSCO 74 sunken rig hull was located approximately 95 miles from the original drilling location when it was struck by an oil tanker during 2009.  Wreck removal operations on the sunken rig hull of ENSCO 74 were completed during 2010.

We filed a petition for exoneration or limitation of liability under U.S. admiralty and maritime law during 2009. A number of claimants presented claims in the exoneration/limitation proceedings. We have liability insurance policies that provide coverage for such claims as well as removal of wreckage and debris in excess of the property insurance policy sublimit, subject to a $10.0 million per occurrence deductible for third-party claims and an annual aggregate limit of $490.0 million

The owner of a pipeline filed claims alleging that ENSCO 74 caused the pipeline to rupture during Hurricane Ike and sought damages for the cost of repairs and business interruption in an amount in excess of $26.0 million. During 2014, we reached an agreement with the owner of the pipeline to settle the claims for $9.6 million. Prior to the settlement, we incurred legal fees of $3.6 million for this matter. During the second quarter of 2014, we paid the remaining $6.4 million of our deductible under our liability insurance policy. The remaining $3.2 million of settlement proceeds was paid by our underwriters under the terms of the related insurance policies.

The owner of the oil tanker that struck the hull of ENSCO 74 filed claims seeking monetary damages currently in excess of $5.0 million for losses incurred when the tanker struck the ENSCO 74 hull. This matter went to trial in June 2014, and we won a directed verdict on all claims. The plaintiff appealed the decision to the United States Court of Appeals for the Fifth Circuit. We believe that it is not probable that a liability exists with respect to these claims. 

We believe all liabilities associated with the ENSCO 74 loss during Hurricane Ike resulted from a single occurrence under the terms of the applicable insurance policies. However, legal counsel for certain liability underwriters have asserted that the liability claims arise from separate occurrences. In the event of multiple occurrences, the self-insured retention is $15.0 million for two occurrences and $1.0 million for each occurrence thereafter.

Although we do not expect final disposition of the claims associated with the ENSCO 74 loss to have a material adverse effect upon our financial position, operating results or cash flows, there can be no assurances as to the ultimate outcome.

ENSCO 29 Wreck Removal

During 2005, a portion of the ENSCO 29 platform drilling rig was lost over the side of a customer's platform as a result of Hurricane Katrina. In June 2014, we received a letter from an operator demanding that Ensco retrieve the derrick and drawworks from the seabed.
Our property insurance policies include coverage for ENSCO 29 wreckage and debris removal costs up to $3.8 million. We also maintain liability insurance policies that provide coverage under certain circumstances for wreckage and debris removal costs in excess of the $3.8 million coverage provided under the property insurance policies. We believe that it is not probable a liability exists with respect to this matter, and no liability has been recorded on our condensed consolidated balance sheet as of June 30, 2015. While we cannot reasonably estimate a range of possible loss at this time, it is possible that removal costs may be in excess of our insurance coverage. Although we do not expect costs associated with the ENSCO 29 wreck removal to have a material adverse effect upon our financial position, operating results or cash flows, there can be no assurances as to the ultimate outcome.

Asbestos Litigation

We and certain subsidiaries have been named as defendants, along with numerous third-party companies as co-defendants, in multi-party lawsuits filed in Illinois, Mississippi, Texas, Louisiana and the U.K. by approximately 65 plaintiffs. The lawsuits seek an unspecified amount of monetary damages on behalf of individuals alleging personal injury or death, primarily under the Jones Act, purportedly resulting from exposure to asbestos on drilling rigs and associated facilities during the 1960s through the 1980s.
    
During 2013, we reached an agreement in principle with 58 plaintiffs to settle lawsuits filed in Mississippi for a nominal amount. A special master reviewed all 58 cases and made an allocation of settlement funds among the parties.  The District Court Judge reviewed the allocations and accepted the special master’s recommendations and approved the settlements.  The settlement documents and final documentation for the individual plaintiffs are continuing to be processed.

We intend to vigorously defend against the remaining claims and have filed responsive pleadings preserving all defenses and challenges to jurisdiction and venue. However, discovery is still ongoing and, therefore, available information regarding the nature of all pending claims is limited. At present, we cannot reasonably determine how many of the claimants may have valid claims under the Jones Act or estimate a range of potential liability exposure, if any. 
    
In addition to the pending cases in Illinois, Mississippi, Texas, Louisiana and the U.K., we have other asbestos or lung injury claims pending against us in litigation in other jurisdictions. Although we do not expect final disposition of these asbestos or lung injury lawsuits to have a material adverse effect upon our financial position, operating results or cash flows, there can be no assurances as to the ultimate outcome of the lawsuits.

   Other Matters

In addition to the foregoing, we are named defendants or parties in certain other lawsuits, claims or proceedings incidental to our business and are involved from time to time as parties to governmental investigations or proceedings, including matters related to taxation, arising in the ordinary course of business. Although the outcome of such lawsuits or other proceedings cannot be predicted with certainty and the amount of any liability that could arise with respect to such lawsuits or other proceedings cannot be predicted accurately, we do not expect these matters to have a material adverse effect on our financial position, operating results or cash flows.

In the ordinary course of business with customers and others, we have entered into letters of credit and surety bonds to guarantee our performance as it relates to our drilling contracts, contract bidding, customs duties, tax appeals and other obligations in various jurisdictions. Letters of credit and surety bonds outstanding as of June 30, 2015 totaled $229.6 million and were issued under facilities provided by various banks and other financial institutions. Obligations under these letters of credit and surety bonds are not normally called as we typically comply with the underlying performance requirement. As of June 30, 2015, we had not been required to make collateral deposits with respect to these agreements.
Sale Leaseback (Notes)
Sale Leaseback Transaction Disclosure [Text Block]
Sale-leaseback

During the third quarter of 2014, we sold jackup rigs ENSCO 83, ENSCO 89, ENSCO 93 and ENSCO 98, all of which are contracted to Petroleos Mexicanos (“Pemex”). In connection with this sale, we executed charter agreements with the purchaser to continue operating the rigs for the remainder of the Pemex contracts, which had anticipated completion dates in either 2015 or 2016. We accounted for the transaction as a sale-leaseback, whereby we retain a significant portion of the remaining use of the rigs as a result of the charter agreements.

We recorded an aggregate gain on sale of $7.5 million at the time of disposal, which represented the portion of the gain that exceeded the present value of payments due under the charter agreements. The remaining $29.4 million gain was deferred and amortized to contract drilling expense within the Jackup segment over the remaining charter term of each rig. Of the $29.4 million deferred gain, $6.9 million and $14.0 million were recognized in contract drilling expense in our condensed consolidated statements of operations for the three-month and six-month periods ended June 30, 2015 and $8.4 million was included in accrued liabilities and other on our condensed consolidated balance sheet as of June 30, 2015.

Due to our charter agreements with the purchaser, ENSCO 83, ENSCO 89 and ENSCO 98 operating results for periods beginning after the date of sale (September 30, 2014) were included in income (loss) from continuing operations within the Other segment. Operating results for these rigs prior to September 30, 2014 were included in income (loss) from continuing operations within the Jackup segment.
    
The ENSCO 93 contract with Pemex ended in June 2015. As a result, ENSCO 93 operating results were included in loss from discontinued operations, net in our condensed consolidated statements of operations for the three-month and six-month periods ended June 30, 2015 and 2014. See "Note 9 - Discontinued Operations" for additional information.
Segment Information
Segment Information
Segment Information
 
Our business consists of three operating segments: (1) Floaters, which includes our drillships and semisubmersible rigs, (2) Jackups and (3) Other, which consists of management services on rigs owned by third-parties. Our two reportable segments, Floaters and Jackups, provide one service, contract drilling.
    
Segment information for the three-month and six-month periods ended 2015 and 2014 is presented below (in millions). General and administrative expense and depreciation expense incurred by our corporate office are not allocated to our operating segments for purposes of measuring segment operating income and were included in "Reconciling Items." We measure segment assets as property and equipment. Prior year information has been reclassified to conform to the current year presentation.

Three Months Ended June 30, 2015
 
Floaters
 
Jackups
 
Other
 
Operating Segments Total
 
Reconciling Items
 
Consolidated Total
Revenues
$
634.3

 
$
384.1

 
$
40.6

 
$
1,059.0

 
$

 
$
1,059.0

Operating expenses
 
 
 
 
 
 
 
 
 
 
 
Contract drilling (exclusive of depreciation)
277.7

 
192.7

 
32.2

 
502.6

 

 
502.6

Depreciation
94.4

 
43.6

 

 
138.0

 
2.5

 
140.5

General and administrative

 

 

 

 
29.7

 
29.7

Operating income (loss)
$
262.2

 
$
147.8

 
$
8.4

 
$
418.4

 
$
(32.2
)
 
$
386.2

Property and equipment, net
$
9,870.7

 
$
3,223.4

 
$

 
$
13,094.1

 
$
75.8

 
$
13,169.9


Three Months Ended June 30, 2014
 
Floaters
 
Jackups
 
Other
 
Operating Segments Total
 
Reconciling Items
 
Consolidated Total
Revenues
$
679.5

 
$
440.6

 
$
16.5

 
$
1,136.6

 
$

 
$
1,136.6

Operating expenses
 
 
 
 
 
 
 
 
 
 
 
Contract drilling (exclusive of depreciation)
309.9

 
220.9

 
11.7

 
542.5

 

 
542.5

Loss on impairment
703.5

 

 

 
703.5

 

 
703.5

Depreciation
88.3

 
41.8

 

 
130.1

 
2.1

 
132.2

General and administrative

 

 

 

 
36.2

 
36.2

Operating (loss) income
$
(422.2
)
 
$
177.9

 
$
4.8

 
$
(239.5
)
 
$
(38.3
)
 
$
(277.8
)
Property and equipment, net
$
9,661.1

 
$
3,152.9

 
$

 
$
12,814.0

 
$
67.2

 
$
12,881.2


Six Months Ended June 30, 2015
 
Floaters
 
Jackups
 
Other
 
Operating Segments Total
 
Reconciling Items
 
Consolidated Total
Revenues
$
1,329.3

 
$
812.4

 
$
81.2

 
$
2,222.9

 
$

 
$
2,222.9

Operating expenses
 
 
 
 
 
 
 
 
 
 
 
Contract drilling (exclusive of depreciation)
571.2

 
384.2

 
65.5

 
1,020.9

 

 
1,020.9

Depreciation
187.4

 
85.1

 

 
272.5

 
5.1

 
277.6

General and administrative

 

 

 

 
59.8

 
59.8

Operating income (loss)
$
570.7

 
$
343.1

 
$
15.7

 
$
929.5

 
$
(64.9
)
 
$
864.6

Property and equipment, net
$
9,870.7

 
$
3,223.4

 
$

 
$
13,094.1

 
$
75.8

 
$
13,169.9


Six Months Ended June 30, 2014
 
Floaters
 
Jackups
 
Other
 
Operating Segments Total
 
Reconciling Items
 
Consolidated Total
Revenues
$
1,331.1

 
$
839.1

 
$
33.1

 
$
2,203.3

 
$

 
$
2,203.3

Operating expenses
 
 
 
 
 
 
 
 
 
 
 
Contract drilling (exclusive of depreciation)
616.5

 
423.2

 
23.0

 
1,062.7

 

 
1,062.7

Loss on impairment
703.5

 

 

 
703.5

 

 
703.5

Depreciation
179.0

 
80.3

 

 
259.3

 
4.0

 
263.3

General and administrative

 

 

 

 
74.3

 
74.3

Operating (loss) income
$
(167.9
)
 
$
335.6

 
$
10.1

 
$
177.8

 
$
(78.3
)
 
$
99.5

Property and equipment, net
$
9,661.1

 
$
3,152.9

 
$

 
$
12,814.0

 
$
67.2

 
$
12,881.2



Information about Geographic Areas    

As of June 30, 2015, the geographic distribution of our drilling rigs by reportable segment was as follows:
 
Floaters
 
Jackups
 
Total(1)
North & South America (excluding Brazil)
9
 
7
 
16
Middle East & Africa
3
 
12
 
15
Europe & Mediterranean
1
 
11
 
12
Asia & Pacific Rim
4
 
7
 
11
Brazil
4
 
 
4
Asia & Pacific Rim (under construction)
2
 
1
 
3
Middle East & Africa (under construction)
 
2
 
2
Held for sale
4
 
2
 
6
Total
27
 
42
 
69

(1) 
We provide management services on six rigs owned by third-parties not included in the table above.
Supplemental Financial Information
Supplemental Financial Information
Supplemental Financial Information

Consolidated Balance Sheet Information

Accounts receivable, net, consisted of the following (in millions):
 
June 30,
2015
 
December 31,
2014
Trade
$
709.9

 
$
878.8

Other
19.8

 
15.9

 
729.7

 
894.7

Allowance for doubtful accounts
(15.3
)
 
(11.4
)
 
$
714.4

 
$
883.3



Other current assets consisted of the following (in millions):
 
June 30,
2015
 
December 31,
2014
Inventory
$
251.7

 
$
240.3

Assets held for sale
145.7

 
152.4

Prepaid taxes
79.0

 
90.6

Deferred costs
60.5

 
61.9

Deferred tax assets
43.9

 
43.8

Prepaid expenses
35.1

 
33.8

Other
12.0

 
6.6

 
$
627.9

 
$
629.4

 
    
Other assets, net consisted of the following (in millions):
 
June 30,
2015
 
December 31,
2014
Deferred costs
$
86.9

 
$
82.3

Supplemental executive retirement plan assets
44.8

 
43.2

Prepaid taxes on intercompany transfers of property
38.4

 
39.7

Deferred tax assets
36.8

 
38.4

Intangible assets
31.7

 
49.0

Unbilled receivables
1.7

 
18.6

Warranty and other claim receivables

 
30.6

Other
11.2

 
12.4

 
$
251.5

 
$
314.2


    
Accrued liabilities and other consisted of the following (in millions):
 
June 30,
2015
 
December 31,
2014
Deferred revenue
$
218.2

 
$
241.3

Personnel costs
143.9

 
214.0

Taxes
98.6

 
97.0

Accrued interest
89.7

 
83.8

Derivative liabilities
20.0

 
24.1

Other
24.6

 
36.4

 
$
595.0

 
$
696.6


        
Other liabilities consisted of the following (in millions):
 
June 30,
2015
 
December 31,
2014
Deferred revenue
$
265.8

 
$
373.2

Unrecognized tax benefits (inclusive of interest and penalties)
143.8

 
142.4

Supplemental executive retirement plan liabilities
46.3

 
45.1

Intangible liabilities
21.2

 
40.7

Personnel costs
15.3

 
26.1

Other
34.2

 
39.8

 
$
526.6

 
$
667.3


    
Accumulated other comprehensive income consisted of the following (in millions):
 
June 30,
2015
 
December 31,
2014
Derivative Instruments
$
9.4

 
$
8.0

Other
5.2

 
3.9

 
$
14.6

 
$
11.9



Concentration of Risk

We are exposed to credit risk relating to our receivables from customers, our cash and cash equivalents, our short-term investments and our use of derivatives in connection with the management of foreign currency exchange rate risk. We mitigate our credit risk relating to receivables from customers, which consist primarily of major international, government-owned and independent oil and gas companies, by performing ongoing credit evaluations. We also maintain reserves for potential credit losses, which generally have been within management's expectations. We mitigate our credit risk relating to cash and cash equivalents by focusing on diversification and quality of instruments. Cash equivalents consist of a portfolio of high-grade instruments. Custody of cash and cash equivalents is maintained at several well-capitalized financial institutions, and we monitor the financial condition of those financial institutions.  

We mitigate our credit risk relating to derivative counterparties through a variety of techniques, including transacting with multiple, high-quality financial institutions, thereby limiting our exposure to individual counterparties and by entering into International Swaps and Derivatives Association, Inc. (“ISDA”) Master Agreements, which include provisions for a legally enforceable master netting agreement, with almost all of our derivative counterparties. The terms of the ISDA agreements may also include credit support requirements, cross default provisions, termination events or set-off provisions.  Legally enforceable master netting agreements reduce credit risk by providing protection in bankruptcy in certain circumstances and generally permitting the closeout and netting of transactions with the same counterparty upon the occurrence of certain events.  See "Note 3 - Derivative Instruments" for additional information on our derivatives.

Consolidated revenues by customer for the three-month and six-month periods ended June 30, 2015 and 2014 were as follows:

 
Three Months Ended
June 30,
 
Six Months Ended
June 30,
 
2015
 
2014
 
2015
 
2014
BP (1)
16
%
 
17
%
 
14
%
 
17
%
Petrobras(2)
15
%
 
10
%
 
13
%
 
10
%
Total(2)
10
%
 
8
%
 
9
%
 
10
%
Anadarko(2)
5
%
 
10
%
 
5
%
 
11
%
Other
54
%
 
55
%
 
59
%
 
52
%
 
100
%
 
100
%
 
100
%
 
100
%

(1) 
During the three-month periods ended June 30, 2015 and 2014, 79% and 81% of the revenues provided by BP, respectively, were attributable to our Floaters segment. During the six-month period ended June 30, 2015 and 2014, 82% and 80% of the revenues provided by BP, respectively, were attributable to our Floaters segment.

(2) 
During the three-month and six-month periods ended June 30, 2015 and 2014, all revenues were provided by our Floaters segment.

Consolidated revenues by region for the three-month and six-month periods ended June 30, 2015 and 2014 were as follows:

 
Three Months Ended
June 30,
 
Six Months Ended
June 30,
 
2015
 
2014
 
2015
 
2014
U.S. Gulf of Mexico(1)
$
271.0

 
$
464.7

 
$
609.8

 
$
873.5

Angola(2)
182.4

 
157.8

 
351.7

 
308.4

Brazil(3)
115.7

 
111.2

 
238.4

 
245.7

United Kingdom(4)
104.3

 
86.1

 
224.9

 
150.9

Other
385.6

 
316.8

 
798.1

 
624.8

 
$
1,059.0

 
$
1,136.6

 
$
2,222.9

 
$
2,203.3


(1) 
During the three-month period ended June 30, 2015 and 2014, 83% and 77% of the revenues earned in the U.S. Gulf of Mexico, respectively, were attributable to our Floaters segment. During the six-month period ended June 30, 2015 and 2014, 84% and 77% of the revenues earned in the U.S. Gulf of Mexico, respectively, were attributable to our Floaters segment.

(2) 
During the three-month period ended June 30, 2015 and 2014, 91% and 100% of the revenues earned in Angola, respectively, were attributable to our Floaters segment. During the six-month period ended June 30, 2015 and 2014, 90% and 100% of the revenues earned in Angola, respectively, were attributable to our Floaters segment.

(3) 
During the three-month and six-month periods ended June 30, 2015 and 2014, all revenues were provided by our Floaters segment.

(4) 
During the three-month and six-month periods ended June 30, 2015 and 2014, all revenues were provided by our Jackups segment.
Guarantee Of Registered Securities
Guarantee Of Registered Securities
Guarantee of Registered Securities

On May 31, 2011, Ensco plc completed a merger transaction (the "Merger") with Pride. In connection with the Merger, Ensco plc and Pride entered into a supplemental indenture to the indenture dated as of July 1, 2004 between Pride and the Bank of New York Mellon, as indenture trustee, providing for, among other matters, the full and unconditional guarantee by Ensco plc of Pride’s 8.5% unsecured senior notes due 2019, 6.875% unsecured senior notes due 2020 and 7.875% unsecured senior notes due 2040, which had an aggregate outstanding principal balance of $1.7 billion as of June 30, 2015. The Ensco plc guarantee provides for the unconditional and irrevocable guarantee of the prompt payment, when due, of any amount owed to the holders of the notes.
 
Ensco plc is also a full and unconditional guarantor of the 7.2% debentures due 2027 issued by ENSCO International Incorporated during 1997, which had an aggregate outstanding principal balance of $150.0 million as of June 30, 2015.
    
All guarantees are unsecured obligations of Ensco plc ranking equal in right of payment with all of its existing and future unsecured and unsubordinated indebtedness.
   
The following tables present the unaudited condensed consolidating statements of operations for the three-month and six-month periods ended June 30, 2015 and 2014; the unaudited condensed consolidating statements of comprehensive income for the three-month and six-month periods ended June 30, 2015 and 2014; the condensed consolidating balance sheets as of June 30, 2015 (unaudited) and December 31, 2014; and the unaudited condensed consolidating statements of cash flows for the six-month periods ended June 30, 2015 and 2014, in accordance with Rule 3-10 of Regulation S-X.

ENSCO PLC AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS
Three Months Ended June 30, 2015
(in millions)
(Unaudited)

 
Ensco plc
 
ENSCO International Incorporated
 
Pride International, Inc.
 
Other Non-Guarantor Subsidiaries of Ensco
 
Consolidating Adjustments
 
Total
OPERATING REVENUES
$
8.7

 
$
34.5

 
$

 
$
1,086.6

 
$
(70.8
)
 
$
1,059.0

OPERATING EXPENSES
 
 
 
 
 
 
 
 
 
 
 
Contract drilling (exclusive of depreciation)
6.3

 
34.5

 

 
532.6

 
(70.8
)
 
502.6

Depreciation

 
2.4

 

 
138.1

 

 
140.5

General and administrative
13.7

 

 

 
16.0

 

 
29.7

OPERATING (LOSS) INCOME
(11.3
)
 
(2.4
)



399.9




386.2

OTHER (EXPENSE) INCOME, NET
(36.3
)
 
2.4

 
(15.2
)
 
(6.3
)
 

 
(55.4
)
(LOSS) INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES
(47.6
)
 


(15.2
)

393.6




330.8

INCOME TAX PROVISION

 
14.1

 

 
43.9

 

 
58.0

DISCONTINUED OPERATIONS, NET

 

 

 
(10.1
)
 

 
(10.1
)
EQUITY EARNINGS IN AFFILIATES, NET OF TAX
307.9

 
47.5

 
71.4

 

 
(426.8
)
 

NET INCOME
260.3


33.4


56.2


339.6


(426.8
)

262.7

NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS

 

 

 
(2.4
)
 

 
(2.4
)
NET INCOME ATTRIBUTABLE TO ENSCO
$
260.3

 
$
33.4


$
56.2


$
337.2


$
(426.8
)

$
260.3

ENSCO PLC AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS
Three Months Ended June 30, 2014
(in millions)
(Unaudited)

 
Ensco plc
 
ENSCO International Incorporated
 
Pride International, Inc.
 
Other Non-Guarantor Subsidiaries of Ensco
 
Consolidating Adjustments
 
Total
OPERATING REVENUES
$
7.8

 
$
38.9

 
$

 
$
1,169.7

 
$
(79.8
)
 
$
1,136.6

OPERATING EXPENSES
 

 
 

 
 

 
 

 
 

 


Contract drilling (exclusive of depreciation)
8.0

 
38.9

 

 
575.4

 
(79.8
)
 
542.5

Loss on impairment

 

 

 
703.5

 

 
703.5

Depreciation

 
1.8

 

 
130.4

 

 
132.2

General and administrative
14.5

 
.1

 

 
21.6

 

 
36.2

OPERATING LOSS
(14.7
)

(1.9
)



(261.2
)



(277.8
)
OTHER EXPENSE, NET
(12.0
)
 
(1.4
)
 
(13.7
)
 
(3.7
)
 

 
(30.8
)
LOSS FROM CONTINUING OPERATIONS BEFORE INCOME TAXES
(26.7
)

(3.3
)

(13.7
)

(264.9
)



(308.6
)
INCOME TAX PROVISION

 
7.6

 

 
35.0

 

 
42.6

DISCONTINUED OPERATIONS, NET

 

 

 
(818.4
)
 

 
(818.4
)
EQUITY EARNINGS IN AFFILIATES, NET OF TAX
(1,146.0
)
 
(1,481.5
)
 
(1,554.5
)
 

 
4,182.0

 

NET LOSS
(1,172.7
)
 
(1,492.4
)

(1,568.2
)

(1,118.3
)

4,182.0


(1,169.6
)
NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS

 

 

 
(3.1
)
 

 
(3.1
)
NET LOSS ATTRIBUTABLE TO ENSCO
$
(1,172.7
)

$
(1,492.4
)

$
(1,568.2
)

$
(1,121.4
)

$
4,182.0


$
(1,172.7
)


ENSCO PLC AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS
Six Months Ended June 30, 2015
(in millions)
(Unaudited)

 
Ensco plc
 
ENSCO International Incorporated
 
Pride International, Inc.
 
Other Non-Guarantor Subsidiaries of Ensco
 
Consolidating Adjustments
 
Total
OPERATING REVENUES
$
17.4

 
$
69.3

 
$

 
$
2,278.2

 
$
(142.0
)
 
$
2,222.9

OPERATING EXPENSES
 
 
 
 
 
 
 
 
 
 
 
Contract drilling (exclusive of depreciation)
13.1

 
69.3

 

 
1,080.5

 
(142.0
)
 
1,020.9

Loss on impairment

 

 

 

 

 

Depreciation
.1

 
4.9

 

 
272.6

 

 
277.6

General and administrative
27.0

 
.1

 

 
32.7

 

 
59.8

OPERATING (LOSS) INCOME
(22.8
)
 
(5.0
)
 

 
892.4

 

 
864.6

OTHER (EXPENSE) INCOME, NET
(96.2
)
 
(14.4
)
 
(31.1
)
 
13.7

 

 
(128.0
)
(LOSS) INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES
(119.0
)
 
(19.4
)
 
(31.1
)
 
906.1

 

 
736.6

INCOME TAX PROVISION

 
27.9

 

 
107.8

 

 
135.7

DISCONTINUED OPERATIONS, NET

 

 

 
(10.3
)
 

 
(10.3
)
EQUITY EARNINGS IN AFFILIATES, NET OF TAX
704.0

 
92.7

 
135.3

 

 
(932.0
)
 

NET INCOME
585.0

 
45.4

 
104.2

 
788.0

 
(932.0
)
 
590.6

NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS

 

 

 
(5.6
)
 

 
(5.6
)
NET INCOME ATTRIBUTABLE TO ENSCO
$
585.0

 
$
45.4

 
$
104.2

 
$
782.4

 
$
(932.0
)
 
$
585.0


ENSCO PLC AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS
Six Months Ended June 30, 2014
(in millions)
(Unaudited)

 
Ensco plc
 
ENSCO International Incorporated
 
Pride International, Inc.
 
Other Non-Guarantor Subsidiaries of Ensco
 
Consolidating Adjustments
 
Total
OPERATING REVENUES
$
15.5

 
$
77.8

 
$

 
$
2,269.3

 
$
(159.3
)
 
$
2,203.3

OPERATING EXPENSES
 

 
 

 
 

 
 

 
 

 
 

Contract drilling (exclusive of depreciation)
15.3

 
77.8

 

 
1,128.9

 
(159.3
)
 
1,062.7

Loss on impairment

 

 

 
703.5

 

 
703.5

Depreciation
.1

 
3.3

 

 
259.9

 

 
263.3

General and administrative
30.8

 
.2

 

 
43.3

 

 
74.3

OPERATING (LOSS) INCOME
(30.7
)

(3.5
)



133.7




99.5

OTHER EXPENSE, NET
(28.6
)
 
(5.4
)
 
(25.9
)
 

 

 
(59.9
)
(LOSS) INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES
(59.3
)

(8.9
)

(25.9
)

133.7




39.6

INCOME TAX PROVISION

 
38.4

 

 
53.7

 

 
92.1

DISCONTINUED OPERATIONS, NET

 

 

 
(820.4
)
 

 
(820.4
)
EQUITY EARNINGS IN AFFILIATES, NET OF TAX
(820.9
)
 
(1,387.5
)
 
(1,569.8
)
 

 
3,778.2

 

NET LOSS
(880.2
)

(1,434.8
)

(1,595.7
)

(740.4
)

3,778.2


(872.9
)
NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS

 

 

 
(7.3
)
 

 
(7.3
)
NET LOSS ATTRIBUTABLE TO ENSCO
$
(880.2
)

$
(1,434.8
)

$
(1,595.7
)

$
(747.7
)

$
3,778.2


$
(880.2
)






ENSCO PLC AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
Three Months Ended June 30, 2015
(in millions)
(Unaudited)

 
Ensco plc
 
ENSCO International Incorporated
 
Pride International, Inc.
 
Other Non-Guarantor Subsidiaries of Ensco
 
Consolidating Adjustments
 
Total
 
 
 
 
 
 
 
 
 
 
 
 
NET INCOME
$
260.3

 
$
33.4

 
$
56.2

 
$
339.6

 
$
(426.8
)
 
$
262.7

OTHER COMPREHENSIVE INCOME, NET
 
 
 
 
 
 
 
 
 
 
 
Net change in fair value of derivatives

 
8.7

 

 

 

 
8.7

Reclassification of net losses on derivative instruments from other comprehensive income into net income

 
5.1

 

 

 

 
5.1

Other

 

 

 
(1.3
)
 

 
(1.3
)
NET OTHER COMPREHENSIVE INCOME

 
13.8




(1.3
)



12.5

 
 
 
 
 
 
 
 
 
 
 
 
COMPREHENSIVE INCOME
260.3

 
47.2


56.2


338.3


(426.8
)

275.2

COMPREHENSIVE INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS

 

 

 
(2.4
)
 

 
(2.4
)
COMPREHENSIVE INCOME ATTRIBUTABLE TO ENSCO
$
260.3

 
$
47.2


$
56.2


$
335.9


$
(426.8
)

$
272.8


ENSCO PLC AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
Three Months Ended June 30, 2014
(in millions)
(Unaudited)

 
Ensco plc
 
ENSCO International Incorporated
 
Pride International, Inc.
 
Other Non-Guarantor Subsidiaries of Ensco
 
Consolidating Adjustments
 
Total
 
 
 
 
 
 
 
 
 
 
 
 
NET LOSS
$
(1,172.7
)
 
$
(1,492.4
)
 
$
(1,568.2
)
 
$
(1,118.3
)
 
$
4,182.0

 
$
(1,169.6
)
OTHER COMPREHENSIVE INCOME, NET
 
 
 
 
 
 
 
 
 
 

Net change in fair value of derivatives

 
5.0

 

 

 

 
5.0

Reclassification of net gains on derivative instruments from other comprehensive income into net income

 
(2.4
)
 

 

 

 
(2.4
)
Other

 

 

 
.5

 

 
.5

NET OTHER COMPREHENSIVE INCOME


2.6




.5



 
3.1

 
 
 
 
 
 
 
 
 
 
 


COMPREHENSIVE LOSS
(1,172.7
)

(1,489.8
)

(1,568.2
)

(1,117.8
)

4,182.0

 
(1,166.5
)
COMPREHENSIVE INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS

 

 

 
(3.1
)
 

 
(3.1
)
COMPREHENSIVE LOSS ATTRIBUTABLE TO ENSCO
$
(1,172.7
)

$
(1,489.8
)

$
(1,568.2
)

$
(1,120.9
)

$
4,182.0


$
(1,169.6
)

ENSCO PLC AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
Six Months Ended June 30, 2015
(in millions)
(Unaudited)

 
Ensco plc
 
ENSCO International Incorporated
 
Pride International, Inc.
 
Other Non-Guarantor Subsidiaries of Ensco
 
Consolidating Adjustments
 
Total
 
 
 
 
 
 
 
 
 
 
 
 
NET INCOME
$
585.0

 
$
45.4

 
$
104.2

 
$
788.0

 
$
(932.0
)
 
$
590.6

OTHER COMPREHENSIVE INCOME, NET
 
 
 
 
 
 
 
 
 
 

Net change in fair value of derivatives

 
(8.7
)
 

 

 

 
(8.7
)
Reclassification of net losses on derivative instruments from other comprehensive income into net income

 
10.1

 

 

 

 
10.1

Other

 

 

 
1.3

 

 
1.3

NET OTHER COMPREHENSIVE INCOME


1.4




1.3



 
2.7

 
 
 
 
 
 
 
 
 
 
 


COMPREHENSIVE INCOME
585.0


46.8


104.2


789.3


(932.0
)
 
593.3

COMPREHENSIVE INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS

 

 

 
(5.6
)
 

 
(5.6
)
COMPREHENSIVE INCOME ATTRIBUTABLE TO ENSCO
$
585.0


$
46.8


$
104.2


$
783.7


$
(932.0
)

$
587.7


ENSCO PLC AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
Six Months Ended June 30, 2014
(in millions)
(Unaudited)

 
Ensco plc
 
ENSCO International Incorporated
 
Pride International, Inc.
 
Other Non-Guarantor Subsidiaries of Ensco
 
Consolidating Adjustments
 
Total
 
 
 
 
 
 
 
 
 
 
 
 
NET LOSS
$
(880.2
)
 
$
(1,434.8
)
 
$
(1,595.7
)
 
$
(740.4
)
 
$
3,778.2

 
$
(872.9
)
OTHER COMPREHENSIVE INCOME, NET
 
 
 
 
 
 
 
 
 
 

Net change in fair value of derivatives

 
9.9

 

 

 

 
9.9

Reclassification of net gains on derivative instruments from other comprehensive income into net income

 
(1.9
)
 

 

 

 
(1.9
)
Other

 

 

 
.5

 

 
.5

NET OTHER COMPREHENSIVE INCOME


8.0




.5




8.5

 
 
 
 
 
 
 
 
 
 
 


COMPREHENSIVE LOSS
(880.2
)

(1,426.8
)

(1,595.7
)

(739.9
)

3,778.2


(864.4
)
COMPREHENSIVE INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS

 

 

 
(7.3
)
 

 
(7.3
)
COMPREHENSIVE LOSS ATTRIBUTABLE TO ENSCO
$
(880.2
)

$
(1,426.8
)

$
(1,595.7
)

$
(747.2
)

$
3,778.2


$
(871.7
)


ENSCO PLC AND SUBSIDIARIES
CONDENSED CONSOLIDATING BALANCE SHEETS
June 30, 2015
(in millions)
(Unaudited)

 
 Ensco plc
 
ENSCO International Incorporated
 
Pride International, Inc.
 
Other Non-Guarantor Subsidiaries of Ensco
 
Consolidating Adjustments
 
Total
                          ASSETS 
 
 
 
 
 
 
 
 
 
 
 
CURRENT ASSETS
 
 
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
334.6

 
$

 
$
104.4

 
$
209.3

 
$

 
$
648.3

Short-term investments
650.0

 

 

 

 

 
650.0

Accounts receivable, net 

 

 

 
714.4

 

 
714.4

Accounts receivable from affiliates
17.4

 
143.1

 

 
68.6

 
(229.1
)
 

Other
.2

 
74.0

 

 
553.7

 

 
627.9

Total current assets
1,002.2

 
217.1


104.4


1,546.0


(229.1
)

2,640.6

PROPERTY AND EQUIPMENT, AT COST
2.1

 
76.6

 

 
15,808.1

 

 
15,886.8

Less accumulated depreciation
1.8

 
38.9

 

 
2,676.2

 

 
2,716.9

Property and equipment, net  
.3

 
37.7




13,131.9




13,169.9

GOODWILL

 

 

 
276.1

 

 
276.1

DUE FROM AFFILIATES
3,022.7

 
5,421.2

 
1,978.8

 
7,443.9

 
(17,866.6
)
 

INVESTMENTS IN AFFILIATES
9,817.6

 
1,327.1

 
595.4

 

 
(11,740.1
)
 

OTHER ASSETS, NET 
27.6

 
46.1

 

 
177.8

 

 
251.5

 
$
13,870.4

 
$
7,049.2


$
2,678.6


$
22,575.7


$
(29,835.8
)

$
16,338.1

LIABILITIES AND SHAREHOLDERS' EQUITY 
 
 
 
 
 
 
 
 
CURRENT LIABILITIES
 
 
 
 
 
 
 
 
 
 
 
Accounts payable and accrued liabilities
$
56.0

 
$
25.8

 
$
34.1

 
$
798.0

 
$

 
$
913.9

Accounts payable to affiliates
9.4

 
82.1

 

 
137.6

 
(229.1
)
 
$

Current maturities of long-term debt

 

 

 
14.4

 

 
$
14.4

Total current liabilities
65.4

 
107.9


34.1


950.0


(229.1
)

928.3

DUE TO AFFILIATES 
1,236.6

 
4,502.6

 
1,752.7

 
10,374.7

 
(17,866.6
)
 

LONG-TERM DEBT 
3,806.7

 
149.2

 
1,955.4

 

 

 
5,911.3

DEFERRED INCOME TAXES

 
202.6

 

 
7.4

 

 
210.0

OTHER LIABILITIES

 
4.4

 
6.2

 
516.0

 

 
526.6

ENSCO SHAREHOLDERS' EQUITY 
8,761.7

 
2,082.5

 
(1,069.8
)
 
10,716.3

 
(11,740.1
)
 
8,750.6

NONCONTROLLING INTERESTS

 

 

 
11.3

 

 
11.3

Total equity
8,761.7

 
2,082.5


(1,069.8
)

10,727.6


(11,740.1
)

8,761.9

      
$
13,870.4

 
$
7,049.2


$
2,678.6


$
22,575.7


$
(29,835.8
)

$
16,338.1


ENSCO PLC AND SUBSIDIARIES
CONDENSED CONSOLIDATING BALANCE SHEETS
December 31, 2014
(in millions)

 
 Ensco plc
 
ENSCO International Incorporated
 
Pride International, Inc.
 
Other Non-Guarantor Subsidiaries of Ensco
 
Consolidating Adjustments
 
Total
                          ASSETS 
 
 
 
 
 
 
 
 
 
 
 
CURRENT ASSETS
 
 
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
287.4

 
$

 
$
90.8

 
$
286.6

 
$

 
$
664.8

Short-term investments
712.0

 

 

 
45.3

 

 
$
757.3

Accounts receivable, net 

 

 

 
883.3

 

 
883.3

Accounts receivable from affiliates
34.5

 
210.4

 

 
134.6

 
(379.5
)
 

Other
4.1

 
86.9

 

 
538.4

 

 
629.4

Total current assets
1,038.0


297.3


90.8


1,888.2


(379.5
)

2,934.8

PROPERTY AND EQUIPMENT, AT COST
2.1

 
71.5

 

 
14,901.9

 

 
14,975.5

Less accumulated depreciation
1.7

 
34.1

 

 
2,404.9

 

 
2,440.7

Property and equipment, net  
.4


37.4




12,497.0




12,534.8

GOODWILL

 

 

 
276.1

 

 
276.1

DUE FROM AFFILIATES
2,873.2

 
4,748.2

 
1,835.0

 
6,308.8

 
(15,765.2
)
 

INVESTMENTS IN AFFILIATES
9,084.8

 
1,233.5

 
461.6

 

 
(10,779.9
)
 

OTHER ASSETS, NET 
17.0

 
47.4

 

 
249.8

 

 
314.2

 
$
13,013.4


$
6,363.8


$
2,387.4


$
21,219.9


$
(26,924.6
)

$
16,059.9

LIABILITIES AND SHAREHOLDERS' EQUITY 
 
 
 
 
 
 
 
 
CURRENT LIABILITIES
 
 
 
 
 
 
 
 
 
 
 
Accounts payable and accrued liabilities
$
47.8

 
$
42.8

 
$
34.3

 
$
944.9

 
$

 
$
1,069.8

Accounts payable to affiliates
23.5

 
158.3

 

 
197.7

 
(379.5
)
 

Current maturities of long-term debt

 

 

 
34.8

 

 
34.8

Total current liabilities
71.3


201.1


34.3


1,177.4


(379.5
)

1,104.6

DUE TO AFFILIATES 
994.8

 
3,817.4

 
1,547.7

 
9,405.3

 
(15,765.2
)
 

LONG-TERM DEBT 
3,724.4

 
149.2

 
1,973.2

 
38.8

 

 
5,885.6

DEFERRED INCOME TAXES

 
176.8

 

 
2.7

 

 
179.5

OTHER LIABILITIES

 
6.1

 
7.0

 
654.2

 

 
667.3

ENSCO SHAREHOLDERS' EQUITY 
8,222.9

 
2,013.2

 
(1,174.8
)
 
9,933.6

 
(10,779.9
)
 
8,215.0

NONCONTROLLING INTERESTS

 

 

 
7.9

 

 
7.9

Total equity
8,222.9

 
2,013.2


(1,174.8
)

9,941.5


(10,779.9
)

8,222.9

      
$
13,013.4

 
$
6,363.8


$
2,387.4


$
21,219.9


$
(26,924.6
)

$
16,059.9



ENSCO PLC AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS
Six Months Ended June 30, 2015
(in millions)
(Unaudited)
 
Ensco plc
 
ENSCO International Incorporated
 
Pride International, Inc.
 
Other Non-guarantor Subsidiaries of Ensco
 
Consolidating Adjustments
 
Total
OPERATING ACTIVITIES
 

 
 

 
 

 
 

 
 

 
 

Net cash (used in) provided by operating activities of continuing operations
$
(66.2
)
 
$
(19.7
)
 
$
(49.9
)
 
$
1,026.8

 
$

 
$
891.0

INVESTING ACTIVITIES
 
 
 
 
 
 
 
 
 
 
 
Additions to property and equipment 

 
(5.1
)
 

 
(908.8
)
 

 
(913.9
)
Maturities of short-term investments
712.0

 

 

 
45.3

 

 
757.3

Purchases of short-term investments
(650.0
)
 

 

 

 

 
(650.0
)
Other

 

 

 
1.1

 

 
1.1

Net cash provided by (used in)investing activities of continuing operations 
62.0

 
(5.1
)



(862.4
)



(805.5
)
FINANCING ACTIVITIES
 

 
 

 
 

 
 

 
 

 


Proceeds from issuance of senior notes
1,078.7

 

 

 

 

 
1,078.7

Reduction of long-term borrowings
(998.3
)
 

 

 
(59.7
)
 

 
(1,058.0
)
Cash dividends paid
(70.5
)
 

 

 

 

 
(70.5
)
Premium paid on redemption of debt
(27.2
)
 

 

 
(3.1
)
 

 
(30.3
)
Debt financing costs
(10.5
)
 

 

 

 

 
(10.5
)
Advances from (to) affiliates
88.2

 
24.8

 
63.5

 
(176.5
)
 

 

Other
(9.0
)
 

 

 
2.2

 

 
(6.8
)
Net cash provided by (used in) financing activities
51.4

 
24.8


63.5


(237.1
)



(97.4
)
DISCONTINUED OPERATIONS
 
 
 
 
 
 
 
 
 
 


Operating activities

 

 

 
(4.2
)
 

 
(4.2
)
Investing activities

 

 

 
(.6
)
 

 
(.6
)
Net cash used in discontinued operations

 




(4.8
)



(4.8
)
Effect of exchange rate changes on cash and cash equivalents

 

 

 
.2

 

 
.2

NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS
47.2

 


13.6


(77.3
)



(16.5
)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD
287.4

 

 
90.8

 
286.6

 

 
664.8

CASH AND CASH EQUIVALENTS, END OF PERIOD
$
334.6

 
$

 
$
104.4

 
$
209.3

 
$

 
$
648.3


ENSCO PLC AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS
Six Months Ended June 30, 2014
(in millions)
(Unaudited)
 
Ensco plc
 
ENSCO International Incorporated 
 
Pride International, Inc.
 
Other Non-guarantor Subsidiaries of Ensco
 
Consolidating Adjustments
 
Total
OPERATING ACTIVITIES
 

 
 

 
 

 
 

 
 

 
 

Net cash (used in) provided by operating activities of continuing operations
$
(34.8
)
 
$
(25.3
)
 
$
(43.6
)
 
$
1,066.6

 
$

 
$
962.9

INVESTING ACTIVITIES
 

 
 

 
 

 
 

 
 

 


Additions to property and equipment 

 
(15.2
)
 

 
(614.5
)
 

 
(629.7
)
Maturities of short-term investments

 

 

 
50.0

 
 
 
50.0

Purchases of short-term investments

 

 

 
(33.3
)
 

 
(33.3
)
Other

 

 

 
2.4

 

 
2.4

Net cash used in investing activities of continuing operations  

 
(15.2
)
 

 
(595.4
)
 

 
(610.6
)
FINANCING ACTIVITIES
 

 
 

 
 

 
 

 
 

 


Cash dividends paid
(351.2
)
 

 

 

 

 
(351.2
)
Reduction of long-term borrowings

 

 

 
(23.7
)
 

 
(23.7
)
Advances from (to) affiliates
385.8

 
40.0

 
44.0

 
(469.8
)
 

 

Other
(9.2
)
 

 

 
(4.2
)
 

 
(13.4
)
Net cash provided by (used in) financing activities
25.4

 
40.0

 
44.0

 
(497.7
)
 

 
(388.3
)
DISCONTINUED OPERATIONS
 
 
 
 
 
 
 
 
 
 


Operating activities

 

 

 
(41.5
)
 

 
(41.5
)
Investing activities

 

 

 
56.7

 

 
56.7

Net cash provided by discontinued operations

 

 

 
15.2

 

 
15.2

Effect of exchange rate changes on cash and cash equivalents

 

 

 
.2

 

 
.2

NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS
(9.4
)
 
(.5
)
 
.4

 
(11.1
)
 

 
(20.6
)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD
46.5

 
.5

 
4.9

 
113.7

 

 
165.6

CASH AND CASH EQUIVALENTS, END OF PERIOD
$
37.1

 
$

 
$
5.3

 
$
102.6

 
$

 
$
145.0

Unaudited Condensed Consolidated Financial Statements (Policies)
New Accounting Pronouncements
New Accounting Pronouncements

During 2015, the Financial Accounting Standards Board issued Accounting Standards Update 2015-03, Interest - Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs ("Update 2015-03"), which requires that debt issuance costs related to a recognized debt liability be presented on the balance sheet as a direct deduction from the carrying amount of the related debt liability, consistent with debt discounts. Update 2015-03 is effective for annual and interim periods for fiscal years beginning after December 15, 2015. Early application is permitted. We will adopt the accounting standard on a retrospective basis effective January 1, 2016. There will be no impact to the manner in which debt issuance costs are amortized in our condensed consolidated financial statements.

During 2014, the Financial Accounting Standards Board issued Accounting Standards Update 2014-09, Revenue from Contracts with Customers (Topic 606) ("Update 2014-09"), which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. In July 2015, the Financial Accounting Standards Board voted to delay the effective date one year. The ASU is now effective for annual and interim periods for fiscal years beginning after December 15, 2017, though companies have an option of adopting the standard for fiscal years beginning after December 15, 2016. The ASU will replace most existing revenue recognition guidance in U.S. GAAP and may be adopted using a retrospective, modified retrospective or prospective with a cumulative catch-up approach. We are currently evaluating the effect that ASU 2014-09 will have on our condensed consolidated financial statements and related disclosures.
Fair Value Measurements (Tables)
The following fair value hierarchy table categorizes information regarding our net financial assets measured at fair value on a recurring basis (in millions):
 
Quoted Prices in Active Markets for Identical Assets
(Level 1)
 
Significant Other Observable Inputs
(Level 2)
 
Significant Unobservable Inputs
(Level 3)
 
Total
As of June 30, 2015
 
 
 

 
 

 
 

Supplemental executive retirement plan assets 
$
44.8

 
$

 
$

 
$
44.8

Total financial assets
$
44.8

 
$

 
$

 
$
44.8

Derivatives, net 
$

 
$
(16.4
)
 
$

 
$
(16.4
)
Total financial liabilities
$

 
$
(16.4
)
 
$

 
$
(16.4
)
 
 
 
 
 
 
 
 
As of December 31, 2014
 
 
 

 
 

 
 

Supplemental executive retirement plan assets
$
43.2

 
$

 
$

 
$
43.2

Total financial assets
$
43.2

 
$

 
$

 
$
43.2

Derivatives, net 

 
(26.3
)
 

 
(26.3
)
Total financial liabilities
$

 
$
(26.3
)
 
$

 
$
(26.3
)
The carrying values and estimated fair values of our long-term debt instruments were as follows (in millions):
 
June 30,
2015
 
December 31,
2014
 
Carrying Value  
 
Estimated Fair Value  
 
Carrying Value  
 
Estimated Fair Value  
4.70% Senior notes due 2021
$
1,481.3

 
$
1,554.1

 
$
1,479.9

 
$
1,505.3

5.75% Senior notes due 2044
1,003.8

 
1,015.6

 
622.3

 
615.8

6.875% Senior notes due 2020
999.7

 
1,029.1

 
1,008.2

 
1,008.5

5.20% Senior notes due 2025
697.4

 
696.4

 

 

4.50% Senior notes due 2024
624.2

 
592.3

 
624.2

 
602.0

8.50% Senior notes due 2019
575.2

 
593.0

 
583.8

 
611.8

7.875% Senior notes due 2040
380.5

 
333.0

 
381.2

 
363.8

7.20% Debentures due 2027
149.2

 
177.2

 
149.2

 
171.4

4.33% MARAD bonds, including current maturities, due 2016
14.4

 
14.5

 
46.6

 
46.8

4.65% MARAD bonds, including current maturities, due 2020

 

 
27.0

 
29.7

3.25% Senior notes due 2016

 

 
998.0

 
1,018.3

Total
$
5,925.7

 
$
6,005.2

 
$
5,920.4

 
$
5,973.4

Derivative Instruments (Tables)
Derivatives recorded at fair value on our condensed consolidated balance sheets consisted of the following (in millions):
 
Derivative Assets
 
Derivative Liabilities
 
June 30,
2015
 
December 31,
2014
 
June 30,
2015
 
December 31,
2014
Derivatives Designated as Hedging Instruments
 
 
 

 
 

 
 

Foreign currency forward contracts - current(1)
$
1.4

 
$
.4

 
$
18.8

 
$
17.2

Foreign currency forward contracts - non-current(2)
.9

 
.1

 
.9

 
2.9

 
2.3

 
.5

 
19.7

 
20.1

 
 
 
 
 
 
 
 
Derivatives Not Designated as Hedging Instruments
 
 
 

 
 

 
 

Foreign currency forward contracts - current(1)
2.2

 
.2

 
1.2

 
6.9

 
2.2

 
.2

 
1.2

 
6.9

Total
$
4.5

 
$
.7

 
$
20.9

 
$
27.0

 
(1) 
Derivative assets and liabilities that have maturity dates equal to or less than twelve months from the respective balance sheet date were included in other current assets and accrued liabilities and other, respectively, on our condensed consolidated balance sheets.

(2) 
Derivative assets and liabilities that have maturity dates greater than twelve months from the respective balance sheet date were included in other assets, net, and other liabilities, respectively, on our condensed consolidated balance sheets.
Gains and losses, net of tax, on derivatives designated as cash flow hedges included in our condensed consolidated statements of operations and comprehensive income were as follows (in millions):

Three Months Ended June 30, 2015 and 2014
 
Gain Recognized in Other Comprehensive Income (Effective Portion)  
 
(Loss) Gain Reclassified from Accumulated Other Comprehensive Income ("AOCI") into Income (Effective Portion)(1)
 
Gain Recognized in Income on Derivatives (Ineffective Portion and Amount Excluded from Effectiveness Testing)(2)
 
2015
 
2014
 
2015
 
2014
 
2015
 
2014
Interest rate lock contracts(3)
$

 
$

 
$
(.4
)
 
$
(.1
)
 
$

 
$

Foreign currency forward contracts(4)
8.7

 
5.0

 
(4.7
)
 
2.5

 
.3

 
1.2

Total
$
8.7

 
$
5.0

 
$
(5.1
)
 
$
2.4

 
$
.3

 
$
1.2


Six Months Ended June 30, 2015 and 2014
 
(Loss) Gain Recognized in Other Comprehensive Income (Effective Portion)  
 
(Loss) Gain Reclassified from AOCI into Income (Effective Portion)(1)
 
Gain Recognized in Income on Derivatives (Ineffective Portion and Amount Excluded from Effectiveness Testing)(2)
 
2015
 
2014
 
2015
 
2014
 
2015
 
2014
Interest rate lock contracts(3)
$

 
$

 
$
(.5
)
 
$
(.2
)
 
$

 
$

Foreign currency forward contracts(5)
(8.7
)
 
9.9

 
(9.6
)
 
2.1

 
.2

 
1.9

Total
$
(8.7
)
 
$
9.9

 
$
(10.1
)
 
$
1.9

 
$
.2

 
$
1.9



(1)
Changes in the fair value of cash flow hedges are recorded in AOCI.  Amounts recorded in AOCI associated with cash flow hedges are subsequently reclassified into contract drilling, depreciation or interest expense as earnings are affected by the underlying hedged forecasted transaction.

(2)
Gains and losses recognized in income for ineffectiveness and amounts excluded from effectiveness testing were included in other, net, in our condensed consolidated statements of operations.

(3)
Losses on interest rate lock derivatives reclassified from AOCI into income (effective portion) were included in interest expense, net in our condensed consolidated statements of operations.

(4) 
During the three-month period ended June 30, 2015, $4.9 million of losses were reclassified from AOCI into contract drilling expense and $200,000 of gains were reclassified from AOCI into depreciation expense in our condensed consolidated statement of operations. During the three-month period ended June 30, 2014, $2.3 million of gains were reclassified from AOCI into contract drilling expense and $200,000 of gains were reclassified from AOCI into depreciation expense in our condensed consolidated statement of operations.

(5) 
During the six-month period ended June 30, 2015, $10.0 million of losses were reclassified from AOCI into contract drilling expense and $400,000 of gains were reclassified from AOCI into depreciation expense in our condensed consolidated statement of operations. During the six-month period ended June 30, 2014, $1.7 million of gains were reclassified from AOCI into contract drilling expense and $400,000 of gains were reclassified from AOCI into depreciation expense in our condensed consolidated statement of operations.

Noncontrolling Interests (Tables)
Income (loss) from continuing operations attributable to Ensco for the three-month and six-month periods ended June 30, 2015 and 2014 was as follows (in millions):
 
Three Months Ended
June 30,
 
Six Months Ended
June 30,
 
2015
 
2014
 
2015
 
2014
Income (loss) from continuing operations
$
272.8

 
$
(351.2
)
 
$
600.9

 
$
(52.5
)
Income from continuing operations attributable to noncontrolling interests
(2.4
)
 
(3.0
)
 
(5.6
)
 
(7.1
)
Income (loss) from continuing operations attributable to Ensco
$
270.4

 
$
(354.2
)
 
$
595.3

 
$
(59.6
)
Loss from discontinued operations attributable to Ensco for the three-month and six-month periods ended June 30, 2015 and 2014 was as follows (in millions):

 
Three Months Ended
June 30,
 
Six Months Ended
June 30,
 
2015
 
2014
 
2015
 
2014
Loss from discontinued operations, net
$
(10.1
)
 
$
(818.4
)
 
$
(10.3
)
 
$
(820.4
)
Income from discontinued operations attributable to noncontrolling interests

 
(.1
)
 

 
(.2
)
Loss from discontinued operations attributable to Ensco
$
(10.1
)
 
$
(818.5
)
 
$
(10.3
)
 
$
(820.6
)
Earnings Per Share (Tables)
The following table is a reconciliation of income (loss) from continuing operations attributable to Ensco shares used in our basic and diluted EPS computations for the three-month and six-month periods ended June 30, 2015 and 2014 (in millions):
 
Three Months Ended
June 30,
 
Six Months Ended
June 30,
 
2015
 
2014
 
2015
 
2014
Income (loss) from continuing operations attributable to Ensco
$
270.4

 
$
(354.2
)
 
$
595.3

 
$
(59.6
)
Income from continuing operations allocated to non-vested share awards
(3.7
)
 
(2.1
)
 
(7.4
)
 
(3.9
)
Income (loss) from continuing operations attributable to Ensco shares
$
266.7

 
$
(356.3
)
 
$
587.9

 
$
(63.5
)
The following table is a reconciliation of the weighted-average shares used in our basic and diluted EPS computations for the three-month and six-month periods ended June 30, 2015 and 2014 (in millions):
 
Three Months Ended
June 30,
 
Six Months Ended
June 30,
 
2015
 
2014
 
2015
 
2014
Weighted-average shares - basic
232.1

 
231.5

 
232.0

 
231.4

Potentially dilutive shares
.1

 

 
.1

 

Weighted-average shares - diluted
232.2

 
231.5

 
232.1

 
231.4

Discontinued Operations (Tables)
Summary of Loss from Discontinued Operations
The following table summarizes loss from discontinued operations, net for the three-month and six-month periods ended June 30, 2015 and 2014 (in millions):
 
Three Months Ended
June 30,
 
Six Months Ended
June 30,
 
2015
 
2014
 
2015
 
2014
Revenues
$
8.1

 
$
99.1

 
$
17.7

 
$
219.4

Operating expenses
11.3

 
114.9

 
33.2

 
251.6

Operating loss
(3.2
)

(15.8
)
 
(15.5
)
 
(32.2
)
Income tax (expense) benefit
(2.9
)
 
(6.5
)
 
9.2

 
(11.5
)
Loss on impairment, net
(7.2
)
 
(796.8
)
 
(7.2
)
 
(796.8
)
Gain on disposal of discontinued operations, net
3.2

 
.7

 
3.2

 
20.1

Loss from discontinued operations, net
$
(10.1
)
 
$
(818.4
)
 
$
(10.3
)
 
$
(820.4
)
Segment Information (Tables)
Three Months Ended June 30, 2015
 
Floaters
 
Jackups
 
Other
 
Operating Segments Total
 
Reconciling Items
 
Consolidated Total
Revenues
$
634.3

 
$
384.1

 
$
40.6

 
$
1,059.0

 
$

 
$
1,059.0

Operating expenses
 
 
 
 
 
 
 
 
 
 
 
Contract drilling (exclusive of depreciation)
277.7

 
192.7

 
32.2

 
502.6

 

 
502.6

Depreciation
94.4

 
43.6

 

 
138.0

 
2.5

 
140.5

General and administrative

 

 

 

 
29.7

 
29.7

Operating income (loss)
$
262.2

 
$
147.8

 
$
8.4

 
$
418.4

 
$
(32.2
)
 
$
386.2

Property and equipment, net
$
9,870.7

 
$
3,223.4

 
$

 
$
13,094.1

 
$
75.8

 
$
13,169.9


Three Months Ended June 30, 2014
 
Floaters
 
Jackups
 
Other
 
Operating Segments Total
 
Reconciling Items
 
Consolidated Total
Revenues
$
679.5

 
$
440.6

 
$
16.5

 
$
1,136.6

 
$

 
$
1,136.6

Operating expenses
 
 
 
 
 
 
 
 
 
 
 
Contract drilling (exclusive of depreciation)
309.9

 
220.9

 
11.7

 
542.5

 

 
542.5

Loss on impairment
703.5

 

 

 
703.5

 

 
703.5

Depreciation
88.3

 
41.8

 

 
130.1

 
2.1

 
132.2

General and administrative

 

 

 

 
36.2

 
36.2

Operating (loss) income
$
(422.2
)
 
$
177.9

 
$
4.8

 
$
(239.5
)
 
$
(38.3
)
 
$
(277.8
)
Property and equipment, net
$
9,661.1

 
$
3,152.9

 
$

 
$
12,814.0

 
$
67.2

 
$
12,881.2


Six Months Ended June 30, 2015
 
Floaters
 
Jackups
 
Other
 
Operating Segments Total
 
Reconciling Items
 
Consolidated Total
Revenues
$
1,329.3

 
$
812.4

 
$
81.2

 
$
2,222.9

 
$

 
$
2,222.9

Operating expenses
 
 
 
 
 
 
 
 
 
 
 
Contract drilling (exclusive of depreciation)
571.2

 
384.2

 
65.5

 
1,020.9

 

 
1,020.9

Depreciation
187.4

 
85.1

 

 
272.5

 
5.1

 
277.6

General and administrative

 

 

 

 
59.8

 
59.8

Operating income (loss)
$
570.7

 
$
343.1

 
$
15.7

 
$
929.5

 
$
(64.9
)
 
$
864.6

Property and equipment, net
$
9,870.7

 
$
3,223.4

 
$

 
$
13,094.1

 
$
75.8

 
$
13,169.9


Six Months Ended June 30, 2014
 
Floaters
 
Jackups
 
Other
 
Operating Segments Total
 
Reconciling Items
 
Consolidated Total
Revenues
$
1,331.1

 
$
839.1

 
$
33.1

 
$
2,203.3

 
$

 
$
2,203.3

Operating expenses
 
 
 
 
 
 
 
 
 
 
 
Contract drilling (exclusive of depreciation)
616.5

 
423.2

 
23.0

 
1,062.7

 

 
1,062.7

Loss on impairment
703.5

 

 

 
703.5

 

 
703.5

Depreciation
179.0

 
80.3

 

 
259.3

 
4.0

 
263.3

General and administrative

 

 

 

 
74.3

 
74.3

Operating (loss) income
$
(167.9
)
 
$
335.6

 
$
10.1

 
$
177.8

 
$
(78.3
)
 
$
99.5

Property and equipment, net
$
9,661.1

 
$
3,152.9

 
$

 
$
12,814.0

 
$
67.2

 
$
12,881.2

As of June 30, 2015, the geographic distribution of our drilling rigs by reportable segment was as follows:
 
Floaters
 
Jackups
 
Total(1)
North & South America (excluding Brazil)
9
 
7
 
16
Middle East & Africa
3
 
12
 
15
Europe & Mediterranean
1
 
11
 
12
Asia & Pacific Rim
4
 
7
 
11
Brazil
4
 
 
4
Asia & Pacific Rim (under construction)
2
 
1
 
3
Middle East & Africa (under construction)
 
2
 
2
Held for sale
4
 
2
 
6
Total
27
 
42
 
69

(1) 
We provide management services on six rigs owned by third-parties not included in the table above.
Supplemental Financial Information (Tables)
Accounts receivable, net, consisted of the following (in millions):
 
June 30,
2015
 
December 31,
2014
Trade
$
709.9

 
$
878.8

Other
19.8

 
15.9

 
729.7

 
894.7

Allowance for doubtful accounts
(15.3
)
 
(11.4
)
 
$
714.4

 
$
883.3

Other current assets consisted of the following (in millions):
 
June 30,
2015
 
December 31,
2014
Inventory
$
251.7

 
$
240.3

Assets held for sale
145.7

 
152.4

Prepaid taxes
79.0

 
90.6

Deferred costs
60.5

 
61.9

Deferred tax assets
43.9

 
43.8

Prepaid expenses
35.1

 
33.8

Other
12.0

 
6.6

 
$
627.9

 
$
629.4

Other assets, net consisted of the following (in millions):
 
June 30,
2015
 
December 31,
2014
Deferred costs
$
86.9

 
$
82.3

Supplemental executive retirement plan assets
44.8

 
43.2

Prepaid taxes on intercompany transfers of property
38.4

 
39.7

Deferred tax assets
36.8

 
38.4

Intangible assets
31.7

 
49.0

Unbilled receivables
1.7

 
18.6

Warranty and other claim receivables

 
30.6

Other
11.2

 
12.4

 
$
251.5

 
$
314.2

Accrued liabilities and other consisted of the following (in millions):
 
June 30,
2015
 
December 31,
2014
Deferred revenue
$
218.2

 
$
241.3

Personnel costs
143.9

 
214.0

Taxes
98.6

 
97.0

Accrued interest
89.7

 
83.8

Derivative liabilities
20.0

 
24.1

Other
24.6

 
36.4

 
$
595.0

 
$
696.6

Other liabilities consisted of the following (in millions):
 
June 30,
2015
 
December 31,
2014
Deferred revenue
$
265.8

 
$
373.2

Unrecognized tax benefits (inclusive of interest and penalties)
143.8

 
142.4

Supplemental executive retirement plan liabilities
46.3

 
45.1

Intangible liabilities
21.2

 
40.7

Personnel costs
15.3

 
26.1

Other
34.2

 
39.8

 
$
526.6

 
$
667.3

Accumulated other comprehensive income consisted of the following (in millions):
 
June 30,
2015
 
December 31,
2014
Derivative Instruments
$
9.4

 
$
8.0

Other
5.2

 
3.9

 
$
14.6

 
$
11.9

Guarantee Of Registered Securities (Tables)

ENSCO PLC AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS
Three Months Ended June 30, 2015
(in millions)
(Unaudited)

 
Ensco plc
 
ENSCO International Incorporated
 
Pride International, Inc.
 
Other Non-Guarantor Subsidiaries of Ensco
 
Consolidating Adjustments
 
Total
OPERATING REVENUES
$
8.7

 
$
34.5

 
$

 
$
1,086.6

 
$
(70.8
)
 
$
1,059.0

OPERATING EXPENSES
 
 
 
 
 
 
 
 
 
 
 
Contract drilling (exclusive of depreciation)
6.3

 
34.5

 

 
532.6

 
(70.8
)
 
502.6

Depreciation

 
2.4

 

 
138.1

 

 
140.5

General and administrative
13.7

 

 

 
16.0

 

 
29.7

OPERATING (LOSS) INCOME
(11.3
)
 
(2.4
)



399.9




386.2

OTHER (EXPENSE) INCOME, NET
(36.3
)
 
2.4

 
(15.2
)
 
(6.3
)
 

 
(55.4
)
(LOSS) INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES
(47.6
)
 


(15.2
)

393.6




330.8

INCOME TAX PROVISION

 
14.1

 

 
43.9

 

 
58.0

DISCONTINUED OPERATIONS, NET

 

 

 
(10.1
)
 

 
(10.1
)
EQUITY EARNINGS IN AFFILIATES, NET OF TAX
307.9

 
47.5

 
71.4

 

 
(426.8
)
 

NET INCOME
260.3


33.4


56.2


339.6


(426.8
)

262.7

NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS

 

 

 
(2.4
)
 

 
(2.4
)
NET INCOME ATTRIBUTABLE TO ENSCO
$
260.3

 
$
33.4


$
56.2


$
337.2


$
(426.8
)

$
260.3

ENSCO PLC AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS
Three Months Ended June 30, 2014
(in millions)
(Unaudited)

 
Ensco plc
 
ENSCO International Incorporated
 
Pride International, Inc.
 
Other Non-Guarantor Subsidiaries of Ensco
 
Consolidating Adjustments
 
Total
OPERATING REVENUES
$
7.8

 
$
38.9

 
$

 
$
1,169.7

 
$
(79.8
)
 
$
1,136.6

OPERATING EXPENSES
 

 
 

 
 

 
 

 
 

 


Contract drilling (exclusive of depreciation)
8.0

 
38.9

 

 
575.4

 
(79.8
)
 
542.5

Loss on impairment

 

 

 
703.5

 

 
703.5

Depreciation

 
1.8

 

 
130.4

 

 
132.2

General and administrative
14.5

 
.1

 

 
21.6

 

 
36.2

OPERATING LOSS
(14.7
)

(1.9
)



(261.2
)



(277.8
)
OTHER EXPENSE, NET
(12.0
)
 
(1.4
)
 
(13.7
)
 
(3.7
)
 

 
(30.8
)
LOSS FROM CONTINUING OPERATIONS BEFORE INCOME TAXES
(26.7
)

(3.3
)

(13.7
)

(264.9
)



(308.6
)
INCOME TAX PROVISION

 
7.6

 

 
35.0

 

 
42.6

DISCONTINUED OPERATIONS, NET

 

 

 
(818.4
)
 

 
(818.4
)
EQUITY EARNINGS IN AFFILIATES, NET OF TAX
(1,146.0
)
 
(1,481.5
)
 
(1,554.5
)
 

 
4,182.0

 

NET LOSS
(1,172.7
)
 
(1,492.4
)

(1,568.2
)

(1,118.3
)

4,182.0


(1,169.6
)
NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS

 

 

 
(3.1
)
 

 
(3.1
)
NET LOSS ATTRIBUTABLE TO ENSCO
$
(1,172.7
)

$
(1,492.4
)

$
(1,568.2
)

$
(1,121.4
)

$
4,182.0


$
(1,172.7
)


ENSCO PLC AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS
Six Months Ended June 30, 2015
(in millions)
(Unaudited)

 
Ensco plc
 
ENSCO International Incorporated
 
Pride International, Inc.
 
Other Non-Guarantor Subsidiaries of Ensco
 
Consolidating Adjustments
 
Total
OPERATING REVENUES
$
17.4

 
$
69.3

 
$

 
$
2,278.2

 
$
(142.0
)
 
$
2,222.9

OPERATING EXPENSES
 
 
 
 
 
 
 
 
 
 
 
Contract drilling (exclusive of depreciation)
13.1

 
69.3

 

 
1,080.5

 
(142.0
)
 
1,020.9

Loss on impairment

 

 

 

 

 

Depreciation
.1

 
4.9

 

 
272.6

 

 
277.6

General and administrative
27.0

 
.1

 

 
32.7

 

 
59.8

OPERATING (LOSS) INCOME
(22.8
)
 
(5.0
)
 

 
892.4

 

 
864.6

OTHER (EXPENSE) INCOME, NET
(96.2
)
 
(14.4
)
 
(31.1
)
 
13.7

 

 
(128.0
)
(LOSS) INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES
(119.0
)
 
(19.4
)
 
(31.1
)
 
906.1

 

 
736.6

INCOME TAX PROVISION

 
27.9

 

 
107.8

 

 
135.7

DISCONTINUED OPERATIONS, NET

 

 

 
(10.3
)
 

 
(10.3
)
EQUITY EARNINGS IN AFFILIATES, NET OF TAX
704.0

 
92.7

 
135.3

 

 
(932.0
)
 

NET INCOME
585.0

 
45.4

 
104.2

 
788.0

 
(932.0
)
 
590.6

NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS

 

 

 
(5.6
)
 

 
(5.6
)
NET INCOME ATTRIBUTABLE TO ENSCO
$
585.0

 
$
45.4

 
$
104.2

 
$
782.4

 
$
(932.0
)
 
$
585.0


ENSCO PLC AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS
Six Months Ended June 30, 2014
(in millions)
(Unaudited)

 
Ensco plc
 
ENSCO International Incorporated
 
Pride International, Inc.
 
Other Non-Guarantor Subsidiaries of Ensco
 
Consolidating Adjustments
 
Total
OPERATING REVENUES
$
15.5

 
$
77.8

 
$

 
$
2,269.3

 
$
(159.3
)
 
$
2,203.3

OPERATING EXPENSES
 

 
 

 
 

 
 

 
 

 
 

Contract drilling (exclusive of depreciation)
15.3

 
77.8

 

 
1,128.9

 
(159.3
)
 
1,062.7

Loss on impairment

 

 

 
703.5

 

 
703.5

Depreciation
.1

 
3.3

 

 
259.9

 

 
263.3

General and administrative
30.8

 
.2

 

 
43.3

 

 
74.3

OPERATING (LOSS) INCOME
(30.7
)

(3.5
)



133.7




99.5

OTHER EXPENSE, NET
(28.6
)
 
(5.4
)
 
(25.9
)
 

 

 
(59.9
)
(LOSS) INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES
(59.3
)

(8.9
)

(25.9
)

133.7




39.6

INCOME TAX PROVISION

 
38.4

 

 
53.7

 

 
92.1

DISCONTINUED OPERATIONS, NET

 

 

 
(820.4
)
 

 
(820.4
)
EQUITY EARNINGS IN AFFILIATES, NET OF TAX
(820.9
)
 
(1,387.5
)
 
(1,569.8
)
 

 
3,778.2

 

NET LOSS
(880.2
)

(1,434.8
)

(1,595.7
)

(740.4
)

3,778.2


(872.9
)
NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS

 

 

 
(7.3
)
 

 
(7.3
)
NET LOSS ATTRIBUTABLE TO ENSCO
$
(880.2
)

$
(1,434.8
)

$
(1,595.7
)

$
(747.7
)

$
3,778.2


$
(880.2
)






ENSCO PLC AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
Three Months Ended June 30, 2015
(in millions)
(Unaudited)

 
Ensco plc
 
ENSCO International Incorporated
 
Pride International, Inc.
 
Other Non-Guarantor Subsidiaries of Ensco
 
Consolidating Adjustments
 
Total
 
 
 
 
 
 
 
 
 
 
 
 
NET INCOME
$
260.3

 
$
33.4

 
$
56.2

 
$
339.6

 
$
(426.8
)
 
$
262.7

OTHER COMPREHENSIVE INCOME, NET
 
 
 
 
 
 
 
 
 
 
 
Net change in fair value of derivatives

 
8.7

 

 

 

 
8.7

Reclassification of net losses on derivative instruments from other comprehensive income into net income

 
5.1

 

 

 

 
5.1

Other

 

 

 
(1.3
)
 

 
(1.3
)
NET OTHER COMPREHENSIVE INCOME

 
13.8




(1.3
)



12.5

 
 
 
 
 
 
 
 
 
 
 
 
COMPREHENSIVE INCOME
260.3

 
47.2


56.2


338.3


(426.8
)

275.2

COMPREHENSIVE INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS

 

 

 
(2.4
)
 

 
(2.4
)
COMPREHENSIVE INCOME ATTRIBUTABLE TO ENSCO
$
260.3

 
$
47.2


$
56.2


$
335.9


$
(426.8
)

$
272.8


ENSCO PLC AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
Three Months Ended June 30, 2014
(in millions)
(Unaudited)

 
Ensco plc
 
ENSCO International Incorporated
 
Pride International, Inc.
 
Other Non-Guarantor Subsidiaries of Ensco
 
Consolidating Adjustments
 
Total
 
 
 
 
 
 
 
 
 
 
 
 
NET LOSS
$
(1,172.7
)
 
$
(1,492.4
)
 
$
(1,568.2
)
 
$
(1,118.3
)
 
$
4,182.0

 
$
(1,169.6
)
OTHER COMPREHENSIVE INCOME, NET
 
 
 
 
 
 
 
 
 
 

Net change in fair value of derivatives

 
5.0

 

 

 

 
5.0

Reclassification of net gains on derivative instruments from other comprehensive income into net income

 
(2.4
)
 

 

 

 
(2.4
)
Other

 

 

 
.5

 

 
.5

NET OTHER COMPREHENSIVE INCOME


2.6




.5



 
3.1

 
 
 
 
 
 
 
 
 
 
 


COMPREHENSIVE LOSS
(1,172.7
)

(1,489.8
)

(1,568.2
)

(1,117.8
)

4,182.0

 
(1,166.5
)
COMPREHENSIVE INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS

 

 

 
(3.1
)
 

 
(3.1
)
COMPREHENSIVE LOSS ATTRIBUTABLE TO ENSCO
$
(1,172.7
)

$
(1,489.8
)

$
(1,568.2
)

$
(1,120.9
)

$
4,182.0


$
(1,169.6
)

ENSCO PLC AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
Six Months Ended June 30, 2015
(in millions)
(Unaudited)

 
Ensco plc
 
ENSCO International Incorporated
 
Pride International, Inc.
 
Other Non-Guarantor Subsidiaries of Ensco
 
Consolidating Adjustments
 
Total
 
 
 
 
 
 
 
 
 
 
 
 
NET INCOME
$
585.0

 
$
45.4

 
$
104.2

 
$
788.0

 
$
(932.0
)
 
$
590.6

OTHER COMPREHENSIVE INCOME, NET
 
 
 
 
 
 
 
 
 
 

Net change in fair value of derivatives

 
(8.7
)
 

 

 

 
(8.7
)
Reclassification of net losses on derivative instruments from other comprehensive income into net income

 
10.1

 

 

 

 
10.1

Other

 

 

 
1.3

 

 
1.3

NET OTHER COMPREHENSIVE INCOME


1.4




1.3



 
2.7

 
 
 
 
 
 
 
 
 
 
 


COMPREHENSIVE INCOME
585.0


46.8


104.2


789.3


(932.0
)
 
593.3

COMPREHENSIVE INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS

 

 

 
(5.6
)
 

 
(5.6
)
COMPREHENSIVE INCOME ATTRIBUTABLE TO ENSCO
$
585.0


$
46.8


$
104.2


$
783.7


$
(932.0
)

$
587.7


ENSCO PLC AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
Six Months Ended June 30, 2014
(in millions)
(Unaudited)

 
Ensco plc
 
ENSCO International Incorporated
 
Pride International, Inc.
 
Other Non-Guarantor Subsidiaries of Ensco
 
Consolidating Adjustments
 
Total
 
 
 
 
 
 
 
 
 
 
 
 
NET LOSS
$
(880.2
)
 
$
(1,434.8
)
 
$
(1,595.7
)
 
$
(740.4
)
 
$
3,778.2

 
$
(872.9
)
OTHER COMPREHENSIVE INCOME, NET
 
 
 
 
 
 
 
 
 
 

Net change in fair value of derivatives

 
9.9

 

 

 

 
9.9

Reclassification of net gains on derivative instruments from other comprehensive income into net income

 
(1.9
)
 

 

 

 
(1.9
)
Other

 

 

 
.5

 

 
.5

NET OTHER COMPREHENSIVE INCOME


8.0




.5




8.5

 
 
 
 
 
 
 
 
 
 
 


COMPREHENSIVE LOSS
(880.2
)

(1,426.8
)

(1,595.7
)

(739.9
)

3,778.2


(864.4
)
COMPREHENSIVE INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS

 

 

 
(7.3
)
 

 
(7.3
)
COMPREHENSIVE LOSS ATTRIBUTABLE TO ENSCO
$
(880.2
)

$
(1,426.8
)

$
(1,595.7
)

$
(747.2
)

$
3,778.2


$
(871.7
)
ENSCO PLC AND SUBSIDIARIES
CONDENSED CONSOLIDATING BALANCE SHEETS
June 30, 2015
(in millions)
(Unaudited)

 
 Ensco plc
 
ENSCO International Incorporated
 
Pride International, Inc.
 
Other Non-Guarantor Subsidiaries of Ensco
 
Consolidating Adjustments
 
Total
                          ASSETS 
 
 
 
 
 
 
 
 
 
 
 
CURRENT ASSETS
 
 
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
334.6

 
$

 
$
104.4

 
$
209.3

 
$

 
$
648.3

Short-term investments
650.0

 

 

 

 

 
650.0

Accounts receivable, net 

 

 

 
714.4

 

 
714.4

Accounts receivable from affiliates
17.4

 
143.1

 

 
68.6

 
(229.1
)
 

Other
.2

 
74.0

 

 
553.7

 

 
627.9

Total current assets
1,002.2

 
217.1


104.4


1,546.0


(229.1
)

2,640.6

PROPERTY AND EQUIPMENT, AT COST
2.1

 
76.6

 

 
15,808.1

 

 
15,886.8

Less accumulated depreciation
1.8

 
38.9

 

 
2,676.2

 

 
2,716.9

Property and equipment, net  
.3

 
37.7




13,131.9




13,169.9

GOODWILL

 

 

 
276.1

 

 
276.1

DUE FROM AFFILIATES
3,022.7

 
5,421.2

 
1,978.8

 
7,443.9

 
(17,866.6
)
 

INVESTMENTS IN AFFILIATES
9,817.6

 
1,327.1

 
595.4

 

 
(11,740.1
)
 

OTHER ASSETS, NET 
27.6

 
46.1

 

 
177.8

 

 
251.5

 
$
13,870.4

 
$
7,049.2


$
2,678.6


$
22,575.7


$
(29,835.8
)

$
16,338.1

LIABILITIES AND SHAREHOLDERS' EQUITY 
 
 
 
 
 
 
 
 
CURRENT LIABILITIES
 
 
 
 
 
 
 
 
 
 
 
Accounts payable and accrued liabilities
$
56.0

 
$
25.8

 
$
34.1

 
$
798.0

 
$

 
$
913.9

Accounts payable to affiliates
9.4

 
82.1

 

 
137.6

 
(229.1
)
 
$

Current maturities of long-term debt

 

 

 
14.4

 

 
$
14.4

Total current liabilities
65.4

 
107.9


34.1


950.0


(229.1
)

928.3

DUE TO AFFILIATES 
1,236.6

 
4,502.6

 
1,752.7

 
10,374.7

 
(17,866.6
)
 

LONG-TERM DEBT 
3,806.7

 
149.2

 
1,955.4

 

 

 
5,911.3

DEFERRED INCOME TAXES

 
202.6

 

 
7.4

 

 
210.0

OTHER LIABILITIES

 
4.4

 
6.2

 
516.0

 

 
526.6

ENSCO SHAREHOLDERS' EQUITY 
8,761.7

 
2,082.5

 
(1,069.8
)
 
10,716.3

 
(11,740.1
)
 
8,750.6

NONCONTROLLING INTERESTS

 

 

 
11.3

 

 
11.3

Total equity
8,761.7

 
2,082.5


(1,069.8
)

10,727.6


(11,740.1
)

8,761.9

      
$
13,870.4

 
$
7,049.2


$
2,678.6


$
22,575.7


$
(29,835.8
)

$
16,338.1


ENSCO PLC AND SUBSIDIARIES
CONDENSED CONSOLIDATING BALANCE SHEETS
December 31, 2014
(in millions)

 
 Ensco plc
 
ENSCO International Incorporated
 
Pride International, Inc.
 
Other Non-Guarantor Subsidiaries of Ensco
 
Consolidating Adjustments
 
Total
                          ASSETS 
 
 
 
 
 
 
 
 
 
 
 
CURRENT ASSETS
 
 
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
287.4

 
$

 
$
90.8

 
$
286.6

 
$

 
$
664.8

Short-term investments
712.0

 

 

 
45.3

 

 
$
757.3

Accounts receivable, net 

 

 

 
883.3

 

 
883.3

Accounts receivable from affiliates
34.5

 
210.4

 

 
134.6

 
(379.5
)
 

Other
4.1

 
86.9

 

 
538.4

 

 
629.4

Total current assets
1,038.0


297.3


90.8


1,888.2


(379.5
)

2,934.8

PROPERTY AND EQUIPMENT, AT COST
2.1

 
71.5

 

 
14,901.9

 

 
14,975.5

Less accumulated depreciation
1.7

 
34.1

 

 
2,404.9

 

 
2,440.7

Property and equipment, net  
.4


37.4




12,497.0




12,534.8

GOODWILL

 

 

 
276.1

 

 
276.1

DUE FROM AFFILIATES
2,873.2

 
4,748.2

 
1,835.0

 
6,308.8

 
(15,765.2
)
 

INVESTMENTS IN AFFILIATES
9,084.8

 
1,233.5

 
461.6

 

 
(10,779.9
)
 

OTHER ASSETS, NET 
17.0

 
47.4

 

 
249.8

 

 
314.2

 
$
13,013.4


$
6,363.8


$
2,387.4


$
21,219.9


$
(26,924.6
)

$
16,059.9

LIABILITIES AND SHAREHOLDERS' EQUITY 
 
 
 
 
 
 
 
 
CURRENT LIABILITIES
 
 
 
 
 
 
 
 
 
 
 
Accounts payable and accrued liabilities
$
47.8

 
$
42.8

 
$
34.3

 
$
944.9

 
$

 
$
1,069.8

Accounts payable to affiliates
23.5

 
158.3

 

 
197.7

 
(379.5
)
 

Current maturities of long-term debt

 

 

 
34.8

 

 
34.8

Total current liabilities
71.3


201.1


34.3


1,177.4


(379.5
)

1,104.6

DUE TO AFFILIATES 
994.8

 
3,817.4

 
1,547.7

 
9,405.3

 
(15,765.2
)
 

LONG-TERM DEBT 
3,724.4

 
149.2

 
1,973.2

 
38.8

 

 
5,885.6

DEFERRED INCOME TAXES

 
176.8

 

 
2.7

 

 
179.5

OTHER LIABILITIES

 
6.1

 
7.0

 
654.2

 

 
667.3

ENSCO SHAREHOLDERS' EQUITY 
8,222.9

 
2,013.2

 
(1,174.8
)
 
9,933.6

 
(10,779.9
)
 
8,215.0

NONCONTROLLING INTERESTS

 

 

 
7.9

 

 
7.9

Total equity
8,222.9

 
2,013.2


(1,174.8
)

9,941.5


(10,779.9
)

8,222.9

      
$
13,013.4

 
$
6,363.8


$
2,387.4


$
21,219.9


$
(26,924.6
)

$
16,059.9

ENSCO PLC AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS
Six Months Ended June 30, 2015
(in millions)
(Unaudited)
 
Ensco plc
 
ENSCO International Incorporated
 
Pride International, Inc.
 
Other Non-guarantor Subsidiaries of Ensco
 
Consolidating Adjustments
 
Total
OPERATING ACTIVITIES
 

 
 

 
 

 
 

 
 

 
 

Net cash (used in) provided by operating activities of continuing operations
$
(66.2
)
 
$
(19.7
)
 
$
(49.9
)
 
$
1,026.8

 
$

 
$
891.0

INVESTING ACTIVITIES
 
 
 
 
 
 
 
 
 
 
 
Additions to property and equipment 

 
(5.1
)
 

 
(908.8
)
 

 
(913.9
)
Maturities of short-term investments
712.0

 

 

 
45.3

 

 
757.3

Purchases of short-term investments
(650.0
)
 

 

 

 

 
(650.0
)
Other

 

 

 
1.1

 

 
1.1

Net cash provided by (used in)investing activities of continuing operations 
62.0

 
(5.1
)



(862.4
)



(805.5
)
FINANCING ACTIVITIES
 

 
 

 
 

 
 

 
 

 


Proceeds from issuance of senior notes
1,078.7

 

 

 

 

 
1,078.7

Reduction of long-term borrowings
(998.3
)
 

 

 
(59.7
)
 

 
(1,058.0
)
Cash dividends paid
(70.5
)
 

 

 

 

 
(70.5
)
Premium paid on redemption of debt
(27.2
)
 

 

 
(3.1
)
 

 
(30.3
)
Debt financing costs
(10.5
)
 

 

 

 

 
(10.5
)
Advances from (to) affiliates
88.2

 
24.8

 
63.5

 
(176.5
)
 

 

Other
(9.0
)
 

 

 
2.2

 

 
(6.8
)
Net cash provided by (used in) financing activities
51.4

 
24.8


63.5


(237.1
)



(97.4
)
DISCONTINUED OPERATIONS
 
 
 
 
 
 
 
 
 
 


Operating activities

 

 

 
(4.2
)
 

 
(4.2
)
Investing activities

 

 

 
(.6
)
 

 
(.6
)
Net cash used in discontinued operations

 




(4.8
)



(4.8
)
Effect of exchange rate changes on cash and cash equivalents

 

 

 
.2

 

 
.2

NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS
47.2

 


13.6


(77.3
)



(16.5
)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD
287.4

 

 
90.8

 
286.6

 

 
664.8

CASH AND CASH EQUIVALENTS, END OF PERIOD
$
334.6

 
$

 
$
104.4

 
$
209.3

 
$

 
$
648.3


ENSCO PLC AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS
Six Months Ended June 30, 2014
(in millions)
(Unaudited)
 
Ensco plc
 
ENSCO International Incorporated 
 
Pride International, Inc.
 
Other Non-guarantor Subsidiaries of Ensco
 
Consolidating Adjustments
 
Total
OPERATING ACTIVITIES
 

 
 

 
 

 
 

 
 

 
 

Net cash (used in) provided by operating activities of continuing operations
$
(34.8
)
 
$
(25.3
)
 
$
(43.6
)
 
$
1,066.6

 
$

 
$
962.9

INVESTING ACTIVITIES
 

 
 

 
 

 
 

 
 

 


Additions to property and equipment 

 
(15.2
)
 

 
(614.5
)
 

 
(629.7
)
Maturities of short-term investments

 

 

 
50.0

 
 
 
50.0

Purchases of short-term investments

 

 

 
(33.3
)
 

 
(33.3
)
Other

 

 

 
2.4

 

 
2.4

Net cash used in investing activities of continuing operations  

 
(15.2
)
 

 
(595.4
)
 

 
(610.6
)
FINANCING ACTIVITIES
 

 
 

 
 

 
 

 
 

 


Cash dividends paid
(351.2
)
 

 

 

 

 
(351.2
)
Reduction of long-term borrowings

 

 

 
(23.7
)
 

 
(23.7
)
Advances from (to) affiliates
385.8

 
40.0

 
44.0

 
(469.8
)
 

 

Other
(9.2
)
 

 

 
(4.2
)
 

 
(13.4
)
Net cash provided by (used in) financing activities
25.4

 
40.0

 
44.0

 
(497.7
)
 

 
(388.3
)
DISCONTINUED OPERATIONS
 
 
 
 
 
 
 
 
 
 


Operating activities

 

 

 
(41.5
)
 

 
(41.5
)
Investing activities

 

 

 
56.7

 

 
56.7

Net cash provided by discontinued operations

 

 

 
15.2

 

 
15.2

Effect of exchange rate changes on cash and cash equivalents

 

 

 
.2

 

 
.2

NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS
(9.4
)
 
(.5
)
 
.4

 
(11.1
)
 

 
(20.6
)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD
46.5

 
.5

 
4.9

 
113.7

 

 
165.6

CASH AND CASH EQUIVALENTS, END OF PERIOD
$
37.1

 
$

 
$
5.3

 
$
102.6

 
$

 
$
145.0

Fair Value Measurements (Schedule Of Financial Assets And Liabilities Measured At Fair Value On A Recurring Basis) (Details) (USD $)
In Millions, unless otherwise specified
Jun. 30, 2015
Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
Supplemental executive retirement plan assets
$ 44.8 
$ 43.2 
Total financial assets
44.8 
43.2 
Derivative Assets (Liabilities), at Fair Value, Net
(16.4)
(26.3)
Financial Liabilities Fair Value Disclosure
(16.4)
(26.3)
Quoted Prices In Active Markets For Identical Assets (Level 1) [Member]
 
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
Supplemental executive retirement plan assets
44.8 
43.2 
Total financial assets
44.8 
43.2 
Derivative Assets (Liabilities), at Fair Value, Net
Financial Liabilities Fair Value Disclosure
Significant Other Observable Inputs (Level 2) [Member]
 
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
Supplemental executive retirement plan assets
Total financial assets
Derivative Assets (Liabilities), at Fair Value, Net
(16.4)
(26.3)
Financial Liabilities Fair Value Disclosure
(16.4)
(26.3)
Significant Unobservable Inputs (Level 3) [Member]
 
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
Supplemental executive retirement plan assets
Total financial assets
Derivative Assets (Liabilities), at Fair Value, Net
Financial Liabilities Fair Value Disclosure
$ 0 
$ 0 
Fair Value Measurements (Schedule Of Carrying Values And Estimated Fair Values Of Debt Instruments) (Details) (USD $)
In Millions, unless otherwise specified
Jun. 30, 2015
Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
Carrying Value
$ 5,925.7 
$ 5,920.4 
Estimated Fair Value
6,005.2 
5,973.4 
Three Point Two Five Percent Senior Notes Member
 
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
Debt Instrument, Interest Rate, Stated Percentage
3.25% 
3.25% 
Carrying Value
998.0 
Estimated Fair Value
1,018.3 
Four Point Six Five Percent Marine Administration Bonds Including Current Maturities Member
 
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
Debt Instrument, Interest Rate, Stated Percentage
4.65% 
4.65% 
Carrying Value
27.0 
Estimated Fair Value
29.7 
Four Point Three Three Percent Marine Administration Bonds Including Current Maturities Member
 
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
Debt Instrument, Interest Rate, Stated Percentage
4.33% 
4.33% 
Carrying Value
14.4 
46.6 
Estimated Fair Value
14.5 
46.8 
Seven Point Two Zero Percent Debentures Member
 
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
Debt Instrument, Interest Rate, Stated Percentage
7.20% 
7.20% 
Carrying Value
149.2 
149.2 
Estimated Fair Value
177.2 
171.4 
Seven Point Eight Seven Five Percent Senior Notes Member
 
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
Debt Instrument, Interest Rate, Stated Percentage
7.875% 
7.875% 
Carrying Value
380.5 
381.2 
Estimated Fair Value
333.0 
363.8 
Eight Point Five Zero Percent Senior Notes Member
 
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
Debt Instrument, Interest Rate, Stated Percentage
8.50% 
8.50% 
Carrying Value
575.2 
583.8 
Estimated Fair Value
593.0 
611.8 
Four Point Five Percent Senior Notes Member [Member]
 
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
Debt Instrument, Interest Rate, Stated Percentage
4.50% 
4.50% 
Carrying Value
624.2 
624.2 
Estimated Fair Value
592.3 
602.0 
Five Point Two Percent Senior Notes [Member]
 
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
Debt Instrument, Interest Rate, Stated Percentage
5.20% 
5.20% 
Carrying Value
697.4 
Estimated Fair Value
696.4 
Six Point Eight Seven Five Percent Senior Notes Due Two Thousand Twenty Member
 
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
Debt Instrument, Interest Rate, Stated Percentage
6.875% 
6.875% 
Carrying Value
999.7 
1,008.2 
Estimated Fair Value
1,029.1 
1,008.5 
Five Point Seven Five Percent Senior Notes [Member]
 
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
Debt Instrument, Interest Rate, Stated Percentage
5.75% 
5.75% 
Carrying Value
1,003.8 
622.3 
Estimated Fair Value
1,015.6 
615.8 
Four Point Seven Zero Percent Senior Notes Member
 
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
Debt Instrument, Interest Rate, Stated Percentage
4.70% 
4.70% 
Carrying Value
1,481.3 
1,479.9 
Estimated Fair Value
$ 1,554.1 
$ 1,505.3 
Derivative Instruments (Narrative) (Details) (USD $)
In Millions, unless otherwise specified
6 Months Ended 3 Months Ended 6 Months Ended
Jun. 30, 2015
Dec. 31, 2014
Jun. 30, 2015
Not Designated [Member]
Jun. 30, 2014
Not Designated [Member]
Jun. 30, 2015
Not Designated [Member]
Jun. 30, 2014
Not Designated [Member]
Jun. 30, 2015
Foreign Exchange [Member]
Cash Flow Hedges [Member]
Jun. 30, 2015
Foreign Exchange [Member]
Not Designated [Member]
Derivative Instruments, Gain (Loss) [Line Items]
 
 
 
 
 
 
 
 
Net assets associated with foreign currency derivatives
$ (16.4)
$ (26.3)
 
 
 
 
 
 
Maturity period of derivatives (in months)
18 months 
 
 
 
 
 
 
 
Aggregate cash flow hedges outstanding
 
 
 
 
 
 
359.3 
169.5 
Cash flow hedges outstanding for British pounds
 
 
 
 
 
 
164.1 
15.4 
Cash flow hedges outstanding for Brazilian reals
 
 
 
 
 
 
92.9 
 
Cash flow hedges outstanding for euros
 
 
 
 
 
 
41.7 
86.5 
Cash flow hedges outstanding for Singapore dollars
 
 
 
 
 
 
23.6 
 
Cash flow hedges outstanding for Australian dollars
 
 
 
 
 
 
21.6 
 
Cash flow hedges outstanding for Indonesian rupiah
 
 
 
 
 
 
 
15.1 
Cash flow hedges outstanding for Mexican Pesos
 
 
 
 
 
 
 
12.8 
Cash flow hedges outstanding for Swiss francs
 
 
 
 
 
 
 
23.2 
Cash flow hedges outstanding for other currencies
 
 
 
 
 
 
15.4 
16.5 
Net gains (losses) on derivatives not designated as hedging instruments
 
 
4.5 
0.9 
(9.0)
0.3 
 
 
Estimated amount of net gains (losses) associated with derivative instruments, net of tax, in next twelve months
$ (9.9)
 
 
 
 
 
 
 
Derivative Instruments (Schedule Of Derivatives At Fair Value) (Details) (USD $)
In Millions, unless otherwise specified
Jun. 30, 2015
Dec. 31, 2014
Derivative [Line Items]
 
 
Total fair value of derivative assets
$ 4.5 
$ 0.7 
Total fair value of derivative liabilities
20.9 
27.0 
Designated As Hedging Instrument [Member]
 
 
Derivative [Line Items]
 
 
Total fair value of derivative assets
2.3 
0.5 
Total fair value of derivative liabilities
19.7 
20.1 
Designated As Hedging Instrument [Member] |
Foreign Currency Forward Contracts - Current [Member]
 
 
Derivative [Line Items]
 
 
Total fair value of derivative assets
1.4 1
0.4 1
Total fair value of derivative liabilities
18.8 1
17.2 1
Designated As Hedging Instrument [Member] |
Foreign Currency Forward Contracts - Non-Current [Member]
 
 
Derivative [Line Items]
 
 
Total fair value of derivative assets
0.9 2
0.1 2
Total fair value of derivative liabilities
0.9 2
2.9 2
Not Designated [Member]
 
 
Derivative [Line Items]
 
 
Total fair value of derivative assets
2.2 
0.2 
Total fair value of derivative liabilities
1.2 
6.9 
Not Designated [Member] |
Foreign Currency Forward Contracts - Current [Member]
 
 
Derivative [Line Items]
 
 
Total fair value of derivative assets
2.2 1
0.2 1
Total fair value of derivative liabilities
$ 1.2 1
$ 6.9 1
Derivative Instruments (Gains And Losses On Derivatives Designated As Cash Flow Hedges) (Details) (USD $)
In Millions, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Interest Rate Lock Contracts [Member]
 
 
 
 
Derivative [Line Items]
 
 
 
 
Gain (Loss) Recognized in Other Comprehensive Income ("OCI") (Effective Portion)
$ 0 1
$ 0 1
$ 0 1
$ 0 1
Gain (Loss) Reclassified from Accumulated Other Comprehensive Income ("AOCI") into Income (Effective Portion)
(0.4)1 2
(0.1)1 2
(0.5)1 2
(0.2)1 2
Gain (Loss) Recognized in Income on Derivatives (Ineffective Portion and Amount Excluded from Effectiveness Testing)
1 3
1 3
1 3
1 3
Foreign Currency Forward Contracts [Member]
 
 
 
 
Derivative [Line Items]
 
 
 
 
Gain (Loss) Recognized in Other Comprehensive Income ("OCI") (Effective Portion)
8.7 4
5.0 4
(8.7)5
9.9 5
Gain (Loss) Reclassified from Accumulated Other Comprehensive Income ("AOCI") into Income (Effective Portion)
(4.7)2 4
2.5 2 4
(9.6)2 5
2.1 2 5
Gain (Loss) Recognized in Income on Derivatives (Ineffective Portion and Amount Excluded from Effectiveness Testing)
0.3 3 4
1.2 3 4
0.2 3 5
1.9 3 5
Foreign Currency Forward Contracts [Member] |
Contract Drilling [Member]
 
 
 
 
Derivative [Line Items]
 
 
 
 
Gain (Loss) Reclassified from Accumulated Other Comprehensive Income ("AOCI") into Income (Effective Portion)
(4.9)
2.3 
(10.0)
1.7 
Foreign Currency Forward Contracts [Member] |
Depreciation Expense [Member]
 
 
 
 
Derivative [Line Items]
 
 
 
 
Gain (Loss) Reclassified from Accumulated Other Comprehensive Income ("AOCI") into Income (Effective Portion)
0.2 
0.2 
0.4 
0.4 
Cash Flow Hedges [Member]
 
 
 
 
Derivative [Line Items]
 
 
 
 
Gain (Loss) Recognized in Other Comprehensive Income ("OCI") (Effective Portion)
8.7 
5.0 
(8.7)
9.9 
Gain (Loss) Reclassified from Accumulated Other Comprehensive Income ("AOCI") into Income (Effective Portion)
(5.1)2
2.4 2
(10.1)2
1.9 2
Gain (Loss) Recognized in Income on Derivatives (Ineffective Portion and Amount Excluded from Effectiveness Testing)
$ 0.3 3
$ 1.2 3
$ 0.2 3
$ 1.9 3
Noncontrolling Interests Reconciliation of income from continuing operations (Details) (USD $)
In Millions, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Noncontrolling Interest [Abstract]
 
 
 
 
Income (loss) from continuing operations
$ 272.8 
$ (351.2)
$ 600.9 
$ (52.5)
Income from continuing operations attributable to noncontrolling interests
(2.4)
(3.0)
(5.6)
(7.1)
Income (loss) from continuing operations attributable to Ensco
$ 270.4 
$ (354.2)
$ 595.3 
$ (59.6)
Noncontrolling Interests Reconciliation of income from discontinued operations (Details) (USD $)
In Millions, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Discontinued Operations and Disposal Groups [Abstract]
 
 
 
 
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest
$ (10.1)
$ (818.4)
$ (10.3)
$ (820.4)
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Noncontrolling Interest
0.1 
0.2 
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent
$ (10.1)
$ (818.5)
$ (10.3)
$ (820.6)
Earnings Per Share (Reconciliation Of Net Income Attributable To Ensco Shares) (Details) (USD $)
In Millions, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Earnings Per Share [Abstract]
 
 
 
 
Income (loss) from continuing operations attributable to Ensco
$ 270.4 
$ (354.2)
$ 595.3 
$ (59.6)
Other Preferred Stock Dividends and Adjustments
3.7 
2.1 
7.4 
3.9 
Income (Loss) from Continuing Operations Attributable to Parent, Available to Common Stockholders
$ 266.7 
$ (356.3)
$ 587.9 
$ (63.5)
Earnings Per Share (Reconciliation Of Weighted-Average Shares Used In Earnings Per Share Computations) (Details)
In Millions, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Earnings Per Share [Abstract]
 
 
 
 
Weighted-average shares - basic (in shares)
232.1 
231.5 
232.0 
231.4 
Potentially dilutive share options (in shares)
0.1 
0.1 
Weighted-average shares - diluted (in shares)
232.2 
231.5 
232.1 
231.4 
Antidilutive share options excluded from computation of diluted earnings per share (in shares)
0.5 
0.5 
0.5 
0.5 
Debt (Details) (USD $)
6 Months Ended 6 Months Ended 6 Months Ended 6 Months Ended 3 Months Ended 6 Months Ended 6 Months Ended 3 Months Ended 6 Months Ended 6 Months Ended 2 Months Ended 4 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Seven Point Eight Seven Five Percent Senior Notes Member
Dec. 31, 2014
Seven Point Eight Seven Five Percent Senior Notes Member
Jun. 30, 2015
Five Point Two Percent Senior Notes [Member]
Dec. 31, 2014
Five Point Two Percent Senior Notes [Member]
Jun. 30, 2015
Four Point Five Percent Senior Notes Member [Member]
Dec. 31, 2014
Four Point Five Percent Senior Notes Member [Member]
Jun. 30, 2015
Five Point Seven Five Percent Senior Notes [Member]
Dec. 31, 2014
Five Point Seven Five Percent Senior Notes [Member]
Jun. 30, 2015
Three Point Two Five Percent Senior Notes Member
Dec. 31, 2014
Three Point Two Five Percent Senior Notes Member
Jun. 30, 2015
Four Point Three Three Percent Marine Administration Bonds Including Current Maturities Member
Dec. 31, 2014
Four Point Three Three Percent Marine Administration Bonds Including Current Maturities Member
Jun. 30, 2015
Four Point Six Five Percent Marine Administration Bonds Including Current Maturities Member
Dec. 31, 2014
Four Point Six Five Percent Marine Administration Bonds Including Current Maturities Member
Jun. 30, 2015
Acquired Debt [Member]
Four Point Three Three Percent Marine Administration Bonds Including Current Maturities Member
Apr. 30, 2015
Acquired Debt [Member]
Four Point Three Three Percent Marine Administration Bonds Including Current Maturities Member
Jun. 30, 2015
Senior Notes [Member]
Jun. 30, 2015
Senior Notes [Member]
Five Point Two Percent Senior Notes [Member]
Mar. 31, 2015
Senior Notes [Member]
Five Point Two Percent Senior Notes [Member]
Jun. 30, 2015
Senior Notes [Member]
Five Point Seven Five Percent Senior Notes Member [Domain]
Mar. 31, 2015
Senior Notes [Member]
Five Point Seven Five Percent Senior Notes Member [Domain]
Sep. 30, 2014
Senior Notes [Member]
Five Point Seven Five Percent Senior Notes Member [Domain]
Jun. 30, 2015
Senior Notes [Member]
Three Point Two Five Percent Senior Notes Member
Jun. 30, 2015
Senior Notes [Member]
Three Point Two Five Percent Senior Notes Member
Apr. 30, 2015
Senior Notes [Member]
Three Point Two Five Percent Senior Notes Member
Mar. 31, 2015
Senior Notes [Member]
Three Point Two Five Percent Senior Notes Member
Mar. 17, 2011
Senior Notes [Member]
Three Point Two Five Percent Senior Notes Member
Jun. 30, 2015
Bonds [Member]
Four Point Six Five Percent Marine Administration Bonds Including Current Maturities Member
Apr. 30, 2015
Bonds [Member]
Four Point Six Five Percent Marine Administration Bonds Including Current Maturities Member
Jun. 30, 2015
Bonds [Member]
Four Point Three Three Percent and Four Point Six Five Percent Maritime Administration Bonds [Member]
Apr. 30, 2015
Bonds [Member]
Four Point Three Three Percent and Four Point Six Five Percent Maritime Administration Bonds [Member]
Jul. 31, 2015
Scenario, Forecast [Member]
Bonds [Member]
Four Point Three Three Percent and Four Point Six Five Percent Maritime Administration Bonds [Member]
Jun. 30, 2015
Revolving Credit Facility [Member]
Five Year Credit Facility Member
Mar. 31, 2015
Revolving Credit Facility [Member]
Five Year Credit Facility Member
Dec. 31, 2014
Revolving Credit Facility [Member]
Five Year Credit Facility Member
Jun. 30, 2015
Revolving Credit Facility [Member]
Base Rate [Member]
Five Year Credit Facility Member
Jun. 30, 2015
Revolving Credit Facility [Member]
London Interbank Offered Rate (LIBOR) [Member]
Five Year Credit Facility Member
Mar. 8, 2015
Revolving Credit Facility [Member]
Maximum [Member]
Five Year Credit Facility Member
Jun. 30, 2015
Revolving Credit Facility [Member]
Maximum [Member]
Five Year Credit Facility Member
Debt Instrument [Line Items]
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Debt Instrument, Face Amount
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
$ 700,000,000 
 
$ 400,000,000 
$ 625,000,000 
 
 
 
 
$ 1,000,000,000 
 
 
 
 
 
 
 
 
 
 
 
 
Debt instrument, interest rate, stated percentage
 
 
7.875% 
7.875% 
5.20% 
5.20% 
4.50% 
4.50% 
5.75% 
5.75% 
3.25% 
3.25% 
4.33% 
4.33% 
4.65% 
4.65% 
 
4.33% 
 
 
5.20% 
 
5.75% 
5.75% 
 
 
 
 
3.25% 
 
4.65% 
 
 
 
 
 
 
 
 
 
 
Senior note, maturity year
 
 
2040 
 
 
 
 
 
 
 
 
 
 
 
 
 
2016 
 
 
2025 
 
2044 
 
 
 
2016 
 
 
 
2020 
 
 
 
 
 
 
 
 
 
 
 
Debt Instrument, Unamortized Discount (Premium), Net
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2,600,000 
 
18,700,000 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Debt Instrument, Redemption Price, Percentage
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
100.00% 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Line of Credit Facility, Maximum Borrowing Capacity
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2,750,000,000 
 
 
 
 
 
 
Line of Credit Facility, Current Borrowing Capacity
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2,250,000,000 
 
 
 
 
 
 
Maximum Percent of Debt to Total Capitalization Ratio
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
50.00% 
60.00% 
Debt Instrument, Basis Spread on Variable Rate
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
0.125% 
1.125% 
 
 
Line of Credit Facility, Commitment Fee Percentage
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
0.125% 
 
 
 
 
 
 
Line of Credit Facility, Fair Value of Amount Outstanding
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Debt Instrument, Repurchased Face Amount
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
145,400,000 
854,600,000 
 
 
 
 
51,000,000 
 
 
 
 
 
 
 
 
Gains (Losses) on Extinguishment of Debt
(33,500,000)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(3,800,000)
(26,600,000)
 
 
 
 
 
3,100,000 
 
 
 
 
 
 
 
 
 
Debt Instrument, Repurchase Amount
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
878,000,000 
 
 
 
 
65,300,000 
14,300,000 
 
 
 
 
 
 
 
Gains (Losses) on Extinguishment of Debt, before Write off of Deferred Debt Issuance Cost
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
23,400,000 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Amortization of Debt Discount (Premium)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
1,700,000 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Write off of Deferred Debt Issuance Cost
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
$ 1,500,000 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Impairment (Details) (USD $)
In Millions, unless otherwise specified
3 Months Ended 6 Months Ended 3 Months Ended 6 Months Ended 6 Months Ended
Jun. 30, 2015
rigs
Jun. 30, 2014
Jun. 30, 2015
rigs
Jun. 30, 2014
May 31, 2014
rigs
Jun. 30, 2014
Floaters [Member]
Jun. 30, 2014
Floaters [Member]
Dec. 31, 2014
Floaters [Member]
rigs
Jun. 30, 2014
Discontinued Operations [Member]
Jun. 30, 2014
ENSCO DS-2 [Member]
Discontinued Operations [Member]
Asset Impairment Charges [Abstract]
 
 
 
 
 
 
 
 
 
 
Impairment of Long-Lived Assets Held-for-use
 
 
 
$ 991.5 
 
 
 
 
 
 
Asset Impairment Charges
703.5 
703.5 
 
703.5 
703.5 
 
 
 
Long Lived Assets Held-for-sale [Line Items]
 
 
 
 
 
 
 
 
 
 
Number Of Rigs Committed To Be Sold
 
 
 
 
 
 
Impairment of Long-Lived Assets to be Disposed of
 
 
 
 
 
 
 
 
$ 546.4 
$ (288.0)
Share-Based Compensation (Details) (Restricted share awards and share unit awards [Member], USD $)
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2015
Restricted share awards and share unit awards [Member]
 
 
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
 
 
Awards granted
1,700,000 
 
Vesting rate
 
20.00% 
Vesting rate for certain officers and non-employee directors
 
33.00% 
Weighted-average grant-date fair value of non-vested awards
$ 23.41 
 
Discontinued Operations (Narrative) (Details) (USD $)
In Millions, unless otherwise specified
3 Months Ended 6 Months Ended 3 Months Ended 6 Months Ended 3 Months Ended
Jun. 30, 2015
rigs
Jun. 30, 2014
Jun. 30, 2015
rigs
Jun. 30, 2014
Dec. 31, 2014
May 31, 2014
rigs
Dec. 31, 2014
Floaters [Member]
rigs
Dec. 31, 2014
Jackup [Member]
rigs
Jun. 30, 2015
ENSCO 5002 [Member] [Member]
Floaters [Member]
Jun. 30, 2015
ENSCO5002 [Member]
Jackup [Member]
Jun. 30, 2014
ENSCO69andPrideWisconsin [Member]
Jackup [Member]
Dec. 31, 2014
ENSCO 5000 [Member]
Floaters [Member]
Jun. 30, 2014
ENSCO 85 [Member]
Jackup [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
 
 
 
 
 
 
 
 
 
 
 
 
 
Discontinued Operations, Income Tax Expense (Benefit), Discrete Item
 
 
$ (13.3)
 
 
 
 
 
 
 
 
 
 
Disposal Group, Including Discontinued Operation, Property, Plant and Equipment, Current
145.7 
 
145.7 
 
152.4 
 
 
 
 
 
 
 
 
Number Of Rigs Committed To Be Sold
 
 
 
 
 
 
 
 
Impairment of Long-Lived Assets to be Disposed of, Net of Tax Benefit
7.2 
796.8 
7.2 
796.8 
 
 
 
 
 
 
 
 
 
Debt Instrument Carrying Value
5,925.7 
 
5,925.7 
 
5,920.4 
 
 
 
 
 
 
 
 
Net proceeds from rig sale
 
 
 
 
 
 
 
 
1.6 
 
32.2 
1.3 
64.4 
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal
 
 
 
 
 
 
 
 
 
$ 1.6 
$ 23.6 
 
$ 10.3 
Discontinued Operations (Summary of Income From Discontinued Operations) (Details) (USD $)
In Millions, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Discontinued Operations and Disposal Groups [Abstract]
 
 
 
 
Revenues
$ 8.1 
$ 99.1 
$ 17.7 
$ 219.4 
Operating expenses
11.3 
114.9 
33.2 
251.6 
Operating loss before income taxes
(3.2)
(15.8)
(15.5)
(32.2)
Income tax (expense) benefit
(2.9)
(6.5)
9.2 
(11.5)
Loss on impairment, net
(7.2)
(796.8)
(7.2)
(796.8)
Gain (loss) on disposal of discontinued operations, net
3.2 
0.7 
3.2 
20.1 
Income (loss) from discontinued operations
$ (10.1)
$ (818.4)
$ (10.3)
$ (820.4)
Income Taxes (Narrative) (Details) (USD $)
In Millions, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Income Tax Examination [Line Items]
 
 
 
 
Asset Impairment Charges
$ 0 
$ 703.5 
$ 0 
$ 703.5 
Consolidated effective income tax rate including tax expense attributable to prior periods
17.50% 
 
18.40% 
 
Effective Income Tax Rate Reconciliation, Percent
 
10.40% 
17.50% 
10.50% 
Contingencies (Narrative) (Details) (USD $)
In Millions, unless otherwise specified
1 Months Ended 3 Months Ended 6 Months Ended
Apr. 30, 2014
Mar. 31, 2014
Jun. 30, 2015
plaintiffs
occurrence
Mar. 31, 2009
mi
Oil and Gas Delivery Commitments and Contracts [Line Items]
 
 
 
 
Litigation Settlement, Amount Paid by Underwriters
 
$ 3.2 
 
 
Distance from original drilling location in miles
 
 
 
95 
Loss Contingency, Damages Sought, Value
 
 
5.0 
 
Civil litigation claim damages for cost of repair and business interruption due to pipeline rupture
 
 
26.0 
 
Liability insurance self-insured retention per occurrence
 
 
10.0 
 
Annual liability coverage limit for wreckage and debris removal costs
 
 
490.0 
 
Liability insurance self-insured retention
 
 
15.0 
 
Number of Occurrences
 
 
 
Liability insurance self insured retention for each occurrence thereafter
 
 
1.0 
 
Litigation Settlement, Amount
 
9.6 
 
 
Legal Fees
 
3.6 
 
 
Payments for Legal Settlements
6.4 
 
 
 
Number of plaintiffs
 
 
65 
 
Loss Contingency, Claims Settled, Number
 
 
58 
 
Letters of Credit Outstanding, Amount
 
 
229.6 
 
Ensco 29 [Member]
 
 
 
 
Oil and Gas Delivery Commitments and Contracts [Line Items]
 
 
 
 
Annual liability coverage limit for wreckage and debris removal costs
 
 
$ 3.8 
 
Sale Leaseback (Details) (USD $)
In Millions, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2015
Dec. 31, 2014
Jun. 30, 2015
ENSCO 83, ENSCO 89, ENSCO 98 [Member]
Sep. 30, 2014
ENSCO 83, ENSCO 89, ENSCO 98 [Member]
Jun. 30, 2015
ENSCO 83, ENSCO 89, ENSCO 98 [Member]
Sale Leaseback Transaction [Line Items]
 
 
 
 
 
Gain (Loss) on Sale of Properties
 
 
 
$ 7.5 
 
Other Accrued Liabilities, Noncurrent
34.2 
39.8 
 
 
 
Sale Leaseback Transaction, Deferred Gain, Net
 
 
8.4 
 
8.4 
Sale Leaseback Transaction, Deferred Gain, Gross
 
 
 
29.4 
 
Sale Leaseback Transaction, Current Period Gain Recognized
 
 
$ 6.9 
 
$ 14.0 
Segment Information (Narrative) (Details)
9 Months Ended
Sep. 30, 2014
segments
Segment Reporting Information, Revenue for Reportable Segment [Abstract]
 
Number of operating segments (in segments)
Number of reportable segments (in segments)
Segment Information (Schedule Of Segment Reporting Information) (Details) (USD $)
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Dec. 31, 2014
Segment Reporting Information [Line Items]
 
 
 
 
 
Revenues
$ 1,059,000,000 
$ 1,136,600,000 
$ 2,222,900,000 
$ 2,203,300,000 
 
Operating Expenses [Abstract]
 
 
 
 
 
Contract drilling (exclusive of depreciation)
502,600,000 
542,500,000 
1,020,900,000 
1,062,700,000 
 
Asset Impairment Charges
703,500,000 
703,500,000 
 
Depreciation
140,500,000 
132,200,000 
277,600,000 
263,300,000 
 
General and administrative
29,700,000 
36,200,000 
59,800,000 
74,300,000 
 
OPERATING (LOSS) INCOME
386,200,000 
(277,800,000)
864,600,000 
99,500,000 
 
Property and equipment, net
13,169,900,000 
12,881,200,000 
13,169,900,000 
12,881,200,000 
12,534,800,000 
Floaters [Member]
 
 
 
 
 
Segment Reporting Information [Line Items]
 
 
 
 
 
Revenues
634,300,000 
679,500,000 
1,329,300,000 
1,331,100,000 
 
Operating Expenses [Abstract]
 
 
 
 
 
Contract drilling (exclusive of depreciation)
277,700,000 
309,900,000 
571,200,000 
616,500,000 
 
Asset Impairment Charges
 
703,500,000 
 
703,500,000 
 
Depreciation
94,400,000 
88,300,000 
187,400,000 
179,000,000 
 
General and administrative
 
OPERATING (LOSS) INCOME
262,200,000 
(422,200,000)
570,700,000 
(167,900,000)
 
Property and equipment, net
9,870,700,000 
9,661,100,000 
9,870,700,000 
9,661,100,000 
 
Jackup [Member]
 
 
 
 
 
Segment Reporting Information [Line Items]
 
 
 
 
 
Revenues
384,100,000 
440,600,000 
812,400,000 
839,100,000 
 
Operating Expenses [Abstract]
 
 
 
 
 
Contract drilling (exclusive of depreciation)
192,700,000 
220,900,000 
384,200,000 
423,200,000 
 
Asset Impairment Charges
 
 
 
Depreciation
43,600,000 
41,800,000 
85,100,000 
80,300,000 
 
General and administrative
 
OPERATING (LOSS) INCOME
147,800,000 
177,900,000 
343,100,000 
335,600,000 
 
Property and equipment, net
3,223,400,000 
3,152,900,000 
3,223,400,000 
3,152,900,000 
 
Other [Member]
 
 
 
 
 
Segment Reporting Information [Line Items]
 
 
 
 
 
Revenues
40,600,000 
16,500,000 
81,200,000 
33,100,000 
 
Operating Expenses [Abstract]
 
 
 
 
 
Contract drilling (exclusive of depreciation)
32,200,000 
11,700,000 
65,500,000 
23,000,000 
 
Asset Impairment Charges
 
 
 
Depreciation
 
General and administrative
 
OPERATING (LOSS) INCOME
8,400,000 
4,800,000 
15,700,000 
10,100,000 
 
Property and equipment, net
 
Operating Segments Total [Member]
 
 
 
 
 
Segment Reporting Information [Line Items]
 
 
 
 
 
Revenues
1,059,000,000 
1,136,600,000 
2,222,900,000 
2,203,300,000 
 
Operating Expenses [Abstract]
 
 
 
 
 
Contract drilling (exclusive of depreciation)
502,600,000 
542,500,000 
1,020,900,000 
1,062,700,000 
 
Asset Impairment Charges
 
703,500,000 
 
703,500,000 
 
Depreciation
138,000,000 
130,100,000 
272,500,000 
259,300,000 
 
General and administrative
 
OPERATING (LOSS) INCOME
418,400,000 
(239,500,000)
929,500,000 
177,800,000 
 
Property and equipment, net
13,094,100,000 
12,814,000,000 
13,094,100,000 
12,814,000,000 
 
Reconciling Items [Member]
 
 
 
 
 
Segment Reporting Information [Line Items]
 
 
 
 
 
Revenues
 
Operating Expenses [Abstract]
 
 
 
 
 
Contract drilling (exclusive of depreciation)
 
Asset Impairment Charges
 
 
 
Depreciation
2,500,000 
2,100,000 
5,100,000 
4,000,000 
 
General and administrative
29,700,000 
36,200,000 
59,800,000 
74,300,000 
 
OPERATING (LOSS) INCOME
(32,200,000)
(38,300,000)
(64,900,000)
(78,300,000)
 
Property and equipment, net
$ 75,800,000 
$ 67,200,000 
$ 75,800,000 
$ 67,200,000 
 
Segment Information (Schedule Of Geographic Distribution Of Rigs By Segment) (Details)
Jun. 30, 2015
Segment Reporting Information [Line Items]
 
Number of contract drilling rigs (in rigs)
69 1
Floaters [Member]
 
Segment Reporting Information [Line Items]
 
Number of contract drilling rigs (in rigs)
27 
Jackup [Member]
 
Segment Reporting Information [Line Items]
 
Number of contract drilling rigs (in rigs)
42 
North & South America (Excl. Brazil) [Member]
 
Segment Reporting Information [Line Items]
 
Number of contract drilling rigs (in rigs)
16 1
North & South America (Excl. Brazil) [Member] |
Floaters [Member]
 
Segment Reporting Information [Line Items]
 
Number of contract drilling rigs (in rigs)
North & South America (Excl. Brazil) [Member] |
Jackup [Member]
 
Segment Reporting Information [Line Items]
 
Number of contract drilling rigs (in rigs)
Europe & Mediterranean [Member]
 
Segment Reporting Information [Line Items]
 
Number of contract drilling rigs (in rigs)
12 1
Europe & Mediterranean [Member] |
Floaters [Member]
 
Segment Reporting Information [Line Items]
 
Number of contract drilling rigs (in rigs)
Europe & Mediterranean [Member] |
Jackup [Member]
 
Segment Reporting Information [Line Items]
 
Number of contract drilling rigs (in rigs)
11 
Middle East & Africa [Member]
 
Segment Reporting Information [Line Items]
 
Number of contract drilling rigs (in rigs)
15 1
Middle East & Africa [Member] |
Floaters [Member]
 
Segment Reporting Information [Line Items]
 
Number of contract drilling rigs (in rigs)
Middle East & Africa [Member] |
Jackup [Member]
 
Segment Reporting Information [Line Items]
 
Number of contract drilling rigs (in rigs)
12 
Asia & Pacific Rim [Member]
 
Segment Reporting Information [Line Items]
 
Number of contract drilling rigs (in rigs)
11 1
Asia & Pacific Rim [Member] |
Floaters [Member]
 
Segment Reporting Information [Line Items]
 
Number of contract drilling rigs (in rigs)
Asia & Pacific Rim [Member] |
Jackup [Member]
 
Segment Reporting Information [Line Items]
 
Number of contract drilling rigs (in rigs)
Middle East Under Construction Member [Member]
 
Segment Reporting Information [Line Items]
 
Number of contract drilling rigs (in rigs)
1
Middle East Under Construction Member [Member] |
Floaters [Member]
 
Segment Reporting Information [Line Items]
 
Number of contract drilling rigs (in rigs)
Middle East Under Construction Member [Member] |
Jackup [Member]
 
Segment Reporting Information [Line Items]
 
Number of contract drilling rigs (in rigs)
Brazil [Member]
 
Segment Reporting Information [Line Items]
 
Number of contract drilling rigs (in rigs)
1
Brazil [Member] |
Floaters [Member]
 
Segment Reporting Information [Line Items]
 
Number of contract drilling rigs (in rigs)
Brazil [Member] |
Jackup [Member]
 
Segment Reporting Information [Line Items]
 
Number of contract drilling rigs (in rigs)
Discontinued Operations, Held-for-sale [Member]
 
Segment Reporting Information [Line Items]
 
Number of contract drilling rigs (in rigs)
1
Discontinued Operations, Held-for-sale [Member] |
Floaters [Member]
 
Segment Reporting Information [Line Items]
 
Number of contract drilling rigs (in rigs)
Discontinued Operations, Held-for-sale [Member] |
Jackup [Member]
 
Segment Reporting Information [Line Items]
 
Number of contract drilling rigs (in rigs)
Construction in Progress [Member] |
Asia & Pacific Rim [Member]
 
Segment Reporting Information [Line Items]
 
Number of contract drilling rigs (in rigs)
1
Construction in Progress [Member] |
Asia & Pacific Rim [Member] |
Floaters [Member]
 
Segment Reporting Information [Line Items]
 
Number of contract drilling rigs (in rigs)
Construction in Progress [Member] |
Asia & Pacific Rim [Member] |
Jackup [Member]
 
Segment Reporting Information [Line Items]
 
Number of contract drilling rigs (in rigs)
Supplemental Financial Information Supplemental Financial Information (Narrative) (Details) (Sales Revenue, Services, Net [Member], USD $)
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Customer Concentration Risk [Member] |
Floaters [Member]
 
 
 
 
Concentration Risk, Percentage
100.00% 
100.00% 
100.00% 
100.00% 
Customer Concentration Risk [Member] |
Total S.A. [Member] |
Floaters [Member]
 
 
 
 
Concentration Risk, Percentage
10.00% 
8.00% 
9.00% 
10.00% 
Customer Concentration Risk [Member] |
BP [Member]
 
 
 
 
Concentration Risk, Percentage
16.00% 
17.00% 
14.00% 
17.00% 
Customer Concentration Risk [Member] |
BP [Member] |
Floaters [Member]
 
 
 
 
Concentration Risk, Percentage
79.00% 
81.00% 
82.00% 
80.00% 
Geographic Concentration Risk [Member]
 
 
 
 
Revenues
$ 1,059,000,000.00 
$ 1,136,600,000.00 
$ 2,222,900,000.00 
$ 2,203,300,000.00 
Geographic Concentration Risk [Member] |
US Gulf Of Mexico [Member]
 
 
 
 
Revenues
271,000,000.00 
464,700,000.00 
609,800,000.00 
873,500,000.00 
Geographic Concentration Risk [Member] |
Angola [Member]
 
 
 
 
Revenues
182,400,000 
157,800,000 
351,700,000 
308,400,000 
Geographic Concentration Risk [Member] |
Floaters [Member] |
US Gulf Of Mexico [Member]
 
 
 
 
Concentration Risk, Percentage
83.00% 
77.00% 
84.00% 
77.00% 
Geographic Concentration Risk [Member] |
Floaters [Member] |
Angola [Member]
 
 
 
 
Concentration Risk, Percentage
91.00% 
100.00% 
90.00% 
100.00% 
Geographic Concentration Risk [Member] |
Floaters [Member] |
Brazil [Member]
 
 
 
 
Revenues
$ 115,700,000 
$ 111,200,000 
$ 238,400,000 
$ 245,700,000 
Supplemental Financial Information (Accounts Receivable, Net) (Details) (USD $)
In Millions, unless otherwise specified
Jun. 30, 2015
Dec. 31, 2014
Supplemental Information For Property, Casualty Insurance Underwriters [Line Items]
 
 
Accounts receivable
$ 729.7 
$ 894.7 
Allowance for doubtful accounts
(15.3)
(11.4)
Accounts receivable, net
714.4 
883.3 
Trade [Member]
 
 
Supplemental Information For Property, Casualty Insurance Underwriters [Line Items]
 
 
Accounts receivable
709.9 
878.8 
Other [Member]
 
 
Supplemental Information For Property, Casualty Insurance Underwriters [Line Items]
 
 
Accounts receivable
$ 19.8 
$ 15.9 
Supplemental Financial Information (Other Current Assets) (Details) (USD $)
In Millions, unless otherwise specified
Jun. 30, 2015
Dec. 31, 2014
Supplemental Financial Information [Abstract]
 
 
Assets held for sale
$ 145.7 
$ 152.4 
Inventory
251.7 
240.3 
Deferred costs
60.5 
61.9 
Prepaid Expense
35.1 
33.8 
Prepaid taxes
79.0 
90.6 
Deferred tax assets
43.9 
43.8 
Other
12.0 
6.6 
Other current assets
$ 627.9 
$ 629.4 
Supplemental Financial Information (Other Assets, Net) (Details) (USD $)
In Millions, unless otherwise specified
Jun. 30, 2015
Dec. 31, 2014
Supplemental Financial Information [Abstract]
 
 
Deferred costs
$ 86.9 
$ 82.3 
Intangible assets
31.7 
49.0 
Deferred tax assets
36.8 
38.4 
Supplemental executive retirement plan assets
44.8 
43.2 
Prepaid taxes on intercompany transfers of property
38.4 
39.7 
Warranty and other claim receivables
30.6 
Unbilled receivables
1.7 
18.6 
Other
11.2 
12.4 
Other Assets, Net
$ 251.5 
$ 314.2 
Supplemental Financial Information (Accrued Liabilities) (Details) (USD $)
In Millions, unless otherwise specified
Jun. 30, 2015
Dec. 31, 2014
Supplemental Financial Information [Abstract]
 
 
Personnel costs
$ 143.9 
$ 214.0 
Deferred revenue
218.2 
241.3 
Taxes
98.6 
97.0 
Accrued interest
89.7 
83.8 
Derivative Liability, Current
20.0 
24.1 
Other
24.6 
36.4 
Accrued liabilities and other
$ 595.0 
$ 696.6 
Supplemental Financial Information (Other Liabilities) (Details) (USD $)
In Millions, unless otherwise specified
Jun. 30, 2015
Dec. 31, 2014
Supplemental Financial Information [Abstract]
 
 
Deferred revenue
$ 265.8 
$ 373.2 
Unrecognized tax benefits (inclusive of interest and penalties)
143.8 
142.4 
Intangible liabilities
21.2 
40.7 
Supplemental executive retirement plan liabilities
46.3 
45.1 
Personnel costs
15.3 
26.1 
Other
34.2 
39.8 
Other liabilities
$ 526.6 
$ 667.3 
Supplemental Financial Information (Accumulated Other Comprehensive Income) (Details) (USD $)
In Millions, unless otherwise specified
Jun. 30, 2015
Dec. 31, 2014
Supplemental Financial Information [Abstract]
 
 
Derivative Instruments
$ 9.4 
$ 8.0 
Other
5.2 
3.9 
Accumulated other comprehensive income
$ 14.6 
$ 11.9 
Supplemental Financial Information Schedule of Revenue by Major Customers, by Reporting Segments (Details) (Sales Revenue, Services, Net [Member], Customer Concentration Risk [Member])
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Floaters [Member]
 
 
 
 
Revenue, Major Customer [Line Items]
 
 
 
 
Concentration Risk, Percentage
100.00% 
100.00% 
100.00% 
100.00% 
Petrobras [Member] |
Floaters [Member]
 
 
 
 
Revenue, Major Customer [Line Items]
 
 
 
 
Concentration Risk, Percentage
15.00% 
10.00% 
13.00% 
10.00% 
Total S.A. [Member] |
Floaters [Member]
 
 
 
 
Revenue, Major Customer [Line Items]
 
 
 
 
Concentration Risk, Percentage
10.00% 
8.00% 
9.00% 
10.00% 
Anadarko [Member] |
Floaters [Member]
 
 
 
 
Revenue, Major Customer [Line Items]
 
 
 
 
Concentration Risk, Percentage
5.00% 
10.00% 
5.00% 
11.00% 
BP [Member]
 
 
 
 
Revenue, Major Customer [Line Items]
 
 
 
 
Concentration Risk, Percentage
16.00% 
17.00% 
14.00% 
17.00% 
BP [Member] |
Floaters [Member]
 
 
 
 
Revenue, Major Customer [Line Items]
 
 
 
 
Concentration Risk, Percentage
79.00% 
81.00% 
82.00% 
80.00% 
Other Customers [Member] |
Floaters [Member]
 
 
 
 
Revenue, Major Customer [Line Items]
 
 
 
 
Concentration Risk, Percentage
54.00% 
55.00% 
59.00% 
52.00% 
Supplemental Financial Information Revenue from External Customers by Geographic Areas (Sales Revenue, Services, Net [Member], Geographic Concentration Risk [Member], USD $)
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Revenue, Major Customer [Line Items]
 
 
 
 
Revenues
$ 1,059,000,000.00 
$ 1,136,600,000.00 
$ 2,222,900,000.00 
$ 2,203,300,000.00 
United Kingdom [Member] |
Floaters [Member]
 
 
 
 
Revenue, Major Customer [Line Items]
 
 
 
 
Revenues
104,300,000 
86,100,000 
224,900,000 
150,900,000 
US Gulf Of Mexico [Member]
 
 
 
 
Revenue, Major Customer [Line Items]
 
 
 
 
Revenues
271,000,000.00 
464,700,000.00 
609,800,000.00 
873,500,000.00 
US Gulf Of Mexico [Member] |
Floaters [Member]
 
 
 
 
Revenue, Major Customer [Line Items]
 
 
 
 
Concentration Risk, Percentage
83.00% 
77.00% 
84.00% 
77.00% 
Angola [Member]
 
 
 
 
Revenue, Major Customer [Line Items]
 
 
 
 
Revenues
182,400,000 
157,800,000 
351,700,000 
308,400,000 
Angola [Member] |
Floaters [Member]
 
 
 
 
Revenue, Major Customer [Line Items]
 
 
 
 
Concentration Risk, Percentage
91.00% 
100.00% 
90.00% 
100.00% 
Brazil [Member] |
Floaters [Member]
 
 
 
 
Revenue, Major Customer [Line Items]
 
 
 
 
Revenues
115,700,000 
111,200,000 
238,400,000 
245,700,000 
Other Geographic Areas [Member]
 
 
 
 
Revenue, Major Customer [Line Items]
 
 
 
 
Revenues
$ 385,600,000.00 
$ 316,800,000.00 
$ 798,100,000.00 
$ 624,800,000.00 
Guarantee Of Registered Securities (Narrative) (Details) (USD $)
In Millions, unless otherwise specified
6 Months Ended
Jun. 30, 2015
Dec. 31, 2014
Guarantor Obligations [Line Items]
 
 
Senior notes aggregate outstanding principal balance
$ 1,700.0 
 
8.50% Senior Notes [Member]
 
 
Guarantor Obligations [Line Items]
 
 
Debt instrument interest rate stated percentage
8.50% 
8.50% 
Senior note, maturity year
2019 
 
6.875% Senior Notes due 2020 [Member]
 
 
Guarantor Obligations [Line Items]
 
 
Debt instrument interest rate stated percentage
6.875% 
6.875% 
Senior note, maturity year
2020 
 
7.875% Senior Notes [Member]
 
 
Guarantor Obligations [Line Items]
 
 
Debt instrument interest rate stated percentage
7.875% 
7.875% 
Senior note, maturity year
2040 
 
7.20% Debentures Due 2027 [Member]
 
 
Guarantor Obligations [Line Items]
 
 
Debt instrument interest rate stated percentage
7.20% 
 
Senior note, maturity year
2027 
 
Senior notes aggregate outstanding principal balance
$ 150.0 
 
Guarantee Of Registered Securities (Condensed Consolidating Statements Of Income) (Details) (USD $)
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Guarantor Obligations [Line Items]
 
 
 
 
OPERATING REVENUES
$ 1,059,000,000 
$ 1,136,600,000 
$ 2,222,900,000 
$ 2,203,300,000 
Contract drilling (exclusive of depreciation)
502,600,000 
542,500,000 
1,020,900,000 
1,062,700,000 
Asset Impairment Charges
703,500,000 
703,500,000 
Depreciation
140,500,000 
132,200,000 
277,600,000 
263,300,000 
General and administrative
29,700,000 
36,200,000 
59,800,000 
74,300,000 
OPERATING (LOSS) INCOME
386,200,000 
(277,800,000)
864,600,000 
99,500,000 
OTHER INCOME (EXPENSE), NET
(55,400,000)
(30,800,000)
(128,000,000)
(59,900,000)
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES
330,800,000 
(308,600,000)
736,600,000 
39,600,000 
INCOME TAX PROVISION
58,000,000 
42,600,000 
135,700,000 
92,100,000 
DISCONTINUED OPERATIONS, NET
(10,100,000)
(818,400,000)
(10,300,000)
(820,400,000)
NET INCOME
262,700,000 
(1,169,600,000)
590,600,000 
(872,900,000)
NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS
(2,400,000)
(3,100,000)
(5,600,000)
(7,300,000)
NET INCOME ATTRIBUTABLE TO ENSCO
260,300,000 
(1,172,700,000)
585,000,000 
(880,200,000)
Ensco Plc [Member]
 
 
 
 
Guarantor Obligations [Line Items]
 
 
 
 
OPERATING REVENUES
8,700,000 
7,800,000 
17,400,000 
15,500,000 
Contract drilling (exclusive of depreciation)
6,300,000 
8,000,000 
13,100,000 
15,300,000 
Asset Impairment Charges
 
Depreciation
 
100,000 
100,000 
General and administrative
13,700,000 
14,500,000 
27,000,000 
30,800,000 
OPERATING (LOSS) INCOME
(11,300,000)
(14,700,000)
 
(30,700,000)
OTHER INCOME (EXPENSE), NET
(36,300,000)
(12,000,000)
(96,200,000)
(28,600,000)
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES
(47,600,000)
(26,700,000)
 
(59,300,000)
INCOME TAX PROVISION
 
 
 
DISCONTINUED OPERATIONS, NET
 
 
 
EQUITY EARNINGS IN AFFILIATES, NET OF TAX
307,900,000 
(1,146,000,000)
704,000,000 
(820,900,000)
NET INCOME
260,300,000 
(1,172,700,000)
585,000,000 
(880,200,000)
NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS
 
 
 
NET INCOME ATTRIBUTABLE TO ENSCO
260,300,000 
(1,172,700,000)
585,000,000 
(880,200,000)
ENSCO International Inc. [Member]
 
 
 
 
Guarantor Obligations [Line Items]
 
 
 
 
OPERATING REVENUES
34,500,000 
38,900,000 
69,300,000 
77,800,000 
Contract drilling (exclusive of depreciation)
34,500,000 
38,900,000 
69,300,000 
77,800,000 
Asset Impairment Charges
 
Depreciation
2,400,000 
1,800,000 
4,900,000 
3,300,000 
General and administrative
100,000 
100,000 
200,000 
OPERATING (LOSS) INCOME
(2,400,000)
(1,900,000)
 
(3,500,000)
OTHER INCOME (EXPENSE), NET
2,400,000 
(1,400,000)
(14,400,000)
(5,400,000)
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES
(3,300,000)
 
(8,900,000)
INCOME TAX PROVISION
14,100,000 
7,600,000 
27,900,000 
38,400,000 
DISCONTINUED OPERATIONS, NET
 
 
 
EQUITY EARNINGS IN AFFILIATES, NET OF TAX
47,500,000 
(1,481,500,000)
92,700,000 
(1,387,500,000)
NET INCOME
33,400,000 
(1,492,400,000)
45,400,000 
(1,434,800,000)
NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS
 
 
 
NET INCOME ATTRIBUTABLE TO ENSCO
33,400,000 
(1,492,400,000)
45,400,000 
(1,434,800,000)
Pride International, Inc. [Member]
 
 
 
 
Guarantor Obligations [Line Items]
 
 
 
 
OPERATING REVENUES
 
 
Contract drilling (exclusive of depreciation)
 
 
 
Asset Impairment Charges
 
Depreciation
 
 
 
General and administrative
 
 
 
OTHER INCOME (EXPENSE), NET
(15,200,000)
(13,700,000)
(31,100,000)
(25,900,000)
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES
(15,200,000)
(13,700,000)
 
(25,900,000)
INCOME TAX PROVISION
 
 
DISCONTINUED OPERATIONS, NET
 
 
 
EQUITY EARNINGS IN AFFILIATES, NET OF TAX
71,400,000 
(1,554,500,000)
135,300,000 
(1,569,800,000)
NET INCOME
56,200,000 
(1,568,200,000)
104,200,000 
(1,595,700,000)
NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS
 
 
 
NET INCOME ATTRIBUTABLE TO ENSCO
56,200,000 
(1,568,200,000)
104,200,000 
(1,595,700,000)
Other Non-Guarantor Subsidiaries Of Ensco [Member]
 
 
 
 
Guarantor Obligations [Line Items]
 
 
 
 
OPERATING REVENUES
1,086,600,000 
1,169,700,000 
2,278,200,000 
2,269,300,000 
Contract drilling (exclusive of depreciation)
532,600,000 
575,400,000 
1,080,500,000 
1,128,900,000 
Asset Impairment Charges
 
703,500,000 
703,500,000 
Depreciation
138,100,000 
130,400,000 
272,600,000 
259,900,000 
General and administrative
16,000,000 
21,600,000 
32,700,000 
43,300,000 
OPERATING (LOSS) INCOME
399,900,000 
(261,200,000)
 
133,700,000 
OTHER INCOME (EXPENSE), NET
(6,300,000)
(3,700,000)
13,700,000 
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES
393,600,000 
(264,900,000)
 
133,700,000 
INCOME TAX PROVISION
43,900,000 
35,000,000 
107,800,000 
53,700,000 
DISCONTINUED OPERATIONS, NET
(10,100,000)
(818,400,000)
(10,300,000)
(820,400,000)
NET INCOME
339,600,000 
(1,118,300,000)
788,000,000 
(740,400,000)
NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS
(2,400,000)
(3,100,000)
(5,600,000)
(7,300,000)
NET INCOME ATTRIBUTABLE TO ENSCO
337,200,000 
(1,121,400,000)
782,400,000 
(747,700,000)
Consolidating Adjustments [Member]
 
 
 
 
Guarantor Obligations [Line Items]
 
 
 
 
OPERATING REVENUES
(70,800,000)
(79,800,000)
(142,000,000)
(159,300,000)
Contract drilling (exclusive of depreciation)
(70,800,000)
(79,800,000)
(142,000,000)
(159,300,000)
Asset Impairment Charges
 
Depreciation
 
 
 
General and administrative
 
 
 
INCOME TAX PROVISION
 
 
 
DISCONTINUED OPERATIONS, NET
 
 
 
EQUITY EARNINGS IN AFFILIATES, NET OF TAX
(426,800,000)
4,182,000,000 
(932,000,000)
3,778,200,000 
NET INCOME
(426,800,000)
4,182,000,000 
(932,000,000)
3,778,200,000 
NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS
 
 
 
NET INCOME ATTRIBUTABLE TO ENSCO
$ (426,800,000)
$ 4,182,000,000 
$ (932,000,000)
$ 3,778,200,000 
Guarantee Of Registered Securities Guarantee Of Registered Securities (Condensed Consolidating Statements of Comprehensive Income) (Details) (USD $)
In Millions, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
NET INCOME
$ 262.7 
$ (1,169.6)
$ 590.6 
$ (872.9)
OTHER COMPREHENSIVE INCOME (LOSS), NET:
 
 
 
 
Net change in fair value of derivatives
8.7 
5.0 
(8.7)
9.9 
Reclassification of net (gains) losses on derivative instruments from other comprehensive income into net income
5.1 
(2.4)
10.1 
(1.9)
Other
(1.3)
0.5 
1.3 
0.5 
NET OTHER COMPREHENSIVE (LOSS) INCOME
12.5 
3.1 
2.7 
8.5 
COMPREHENSIVE INCOME
275.2 
(1,166.5)
593.3 
(864.4)
COMPREHENSIVE INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS
(2.4)
(3.1)
(5.6)
(7.3)
COMPREHENSIVE INCOME ATTRIBUTABLE TO ENSCO
272.8 
(1,169.6)
587.7 
(871.7)
Ensco Plc [Member]
 
 
 
 
NET INCOME
260.3 
(1,172.7)
585.0 
(880.2)
OTHER COMPREHENSIVE INCOME (LOSS), NET:
 
 
 
 
COMPREHENSIVE INCOME
260.3 
(1,172.7)
585.0 
(880.2)
COMPREHENSIVE INCOME ATTRIBUTABLE TO ENSCO
260.3 
(1,172.7)
585.0 
(880.2)
ENSCO International Inc. [Member]
 
 
 
 
NET INCOME
33.4 
(1,492.4)
45.4 
(1,434.8)
OTHER COMPREHENSIVE INCOME (LOSS), NET:
 
 
 
 
Net change in fair value of derivatives
8.7 
5.0 
(8.7)
9.9 
Reclassification of net (gains) losses on derivative instruments from other comprehensive income into net income
5.1 
(2.4)
10.1 
(1.9)
NET OTHER COMPREHENSIVE (LOSS) INCOME
13.8 
2.6 
1.4 
8.0 
COMPREHENSIVE INCOME
47.2 
(1,489.8)
46.8 
(1,426.8)
COMPREHENSIVE INCOME ATTRIBUTABLE TO ENSCO
47.2 
(1,489.8)
46.8 
(1,426.8)
Pride International, Inc. [Member]
 
 
 
 
NET INCOME
56.2 
(1,568.2)
104.2 
(1,595.7)
OTHER COMPREHENSIVE INCOME (LOSS), NET:
 
 
 
 
COMPREHENSIVE INCOME
56.2 
(1,568.2)
104.2 
(1,595.7)
COMPREHENSIVE INCOME ATTRIBUTABLE TO ENSCO
56.2 
(1,568.2)
104.2 
(1,595.7)
Other Non-Guarantor Subsidiaries Of Ensco [Member]
 
 
 
 
NET INCOME
339.6 
(1,118.3)
788.0 
(740.4)
OTHER COMPREHENSIVE INCOME (LOSS), NET:
 
 
 
 
Other
(1.3)
0.5 
1.3 
0.5 
NET OTHER COMPREHENSIVE (LOSS) INCOME
(1.3)
0.5 
1.3 
0.5 
COMPREHENSIVE INCOME
338.3 
(1,117.8)
789.3 
(739.9)
COMPREHENSIVE INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS
(2.4)
(3.1)
(5.6)
(7.3)
COMPREHENSIVE INCOME ATTRIBUTABLE TO ENSCO
335.9 
(1,120.9)
783.7 
(747.2)
Consolidating Adjustments [Member]
 
 
 
 
NET INCOME
(426.8)
4,182.0 
(932.0)
3,778.2 
OTHER COMPREHENSIVE INCOME (LOSS), NET:
 
 
 
 
COMPREHENSIVE INCOME
(426.8)
4,182.0 
(932.0)
3,778.2 
COMPREHENSIVE INCOME ATTRIBUTABLE TO ENSCO
$ (426.8)
$ 4,182.0 
$ (932.0)
$ 3,778.2 
Guarantee Of Registered Securities (Condensed Consolidating Balance Sheets) (Details) (USD $)
In Millions, unless otherwise specified
Jun. 30, 2015
Dec. 31, 2014
Jun. 30, 2014
Dec. 31, 2013
Guarantor Obligations [Line Items]
 
 
 
 
Cash and cash equivalents
$ 648.3 
$ 664.8 
$ 145.0 
$ 165.6 
Short-term Investments
650.0 
757.3 
 
 
Accounts receivable, net
714.4 
883.3 
 
 
Other
627.9 
629.4 
 
 
Total current assets
2,640.6 
2,934.8 
 
 
PROPERTY AND EQUIPMENT, AT COST
15,886.8 
14,975.5 
 
 
Less accumulated depreciation
2,716.9 
2,440.7 
 
 
Property and equipment, net
13,169.9 
12,534.8 
12,881.2 
 
Goodwill
276.1 
276.1 
 
 
OTHER ASSETS, NET
251.5 
314.2 
 
 
TOTAL ASSETS
16,338.1 
16,059.9 
 
 
Accounts payable and accrued liabilities
913.9 
1,069.8 
 
 
Current maturities of long-term debt
14.4 
34.8 
 
 
Total current liabilities
928.3 
1,104.6 
 
 
LONG-TERM DEBT
5,911.3 
5,885.6 
 
 
DEFERRED INCOME TAXES
210.0 
179.5 
 
 
OTHER LIABILITIES
526.6 
667.3 
 
 
ENSCO SHAREHOLDERS' EQUITY
8,750.6 
8,215.0 
 
 
NONCONTROLLING INTERESTS
11.3 
7.9 
 
 
Total equity
8,761.9 
8,222.9 
 
 
Total liabilities and shareholders' equity
16,338.1 
16,059.9 
 
 
Ensco Plc [Member]
 
 
 
 
Guarantor Obligations [Line Items]
 
 
 
 
Cash and cash equivalents
334.6 
287.4 
37.1 
46.5 
Short-term Investments
650.0 
712.0 
 
 
Accounts receivable, net
 
 
 
Accounts receivable from affiliates
17.4 
34.5 
 
 
Other
0.2 
4.1 
 
 
Total current assets
1,002.2 
1,038.0 
 
 
PROPERTY AND EQUIPMENT, AT COST
2.1 
2.1 
 
 
Less accumulated depreciation
1.8 
1.7 
 
 
Property and equipment, net
0.3 
0.4 
 
 
Goodwill
 
 
DUE FROM AFFILIATES
3,022.7 
2,873.2 
 
 
INVESTMENTS IN AFFILIATES
9,817.6 
9,084.8 
 
 
OTHER ASSETS, NET
27.6 
17.0 
 
 
TOTAL ASSETS
13,870.4 
13,013.4 
 
 
Accounts payable and accrued liabilities
56.0 
47.8 
 
 
Accounts payable to affiliates
9.4 
23.5 
 
 
Total current liabilities
65.4 
71.3 
 
 
DUE TO AFFILIATES
1,236.6 
994.8 
 
 
LONG-TERM DEBT
3,806.7 
3,724.4 
 
 
DEFERRED INCOME TAXES
 
 
 
ENSCO SHAREHOLDERS' EQUITY
8,761.7 
8,222.9 
 
 
Total equity
8,761.7 
8,222.9 
 
 
Total liabilities and shareholders' equity
13,870.4 
13,013.4 
 
 
ENSCO International Inc. [Member]
 
 
 
 
Guarantor Obligations [Line Items]
 
 
 
 
Cash and cash equivalents
0.5 
Short-term Investments
 
 
Accounts receivable, net
 
 
 
Accounts receivable from affiliates
143.1 
210.4 
 
 
Other
74.0 
86.9 
 
 
Total current assets
217.1 
297.3 
 
 
PROPERTY AND EQUIPMENT, AT COST
76.6 
71.5 
 
 
Less accumulated depreciation
38.9 
34.1 
 
 
Property and equipment, net
37.7 
37.4 
 
 
Goodwill
 
 
 
DUE FROM AFFILIATES
5,421.2 
4,748.2 
 
 
INVESTMENTS IN AFFILIATES
1,327.1 
1,233.5 
 
 
OTHER ASSETS, NET
46.1 
47.4 
 
 
TOTAL ASSETS
7,049.2 
6,363.8 
 
 
Accounts payable and accrued liabilities
25.8 
42.8 
 
 
Accounts payable to affiliates
82.1 
158.3 
 
 
Total current liabilities
107.9 
201.1 
 
 
DUE TO AFFILIATES
4,502.6 
3,817.4 
 
 
LONG-TERM DEBT
149.2 
149.2 
 
 
DEFERRED INCOME TAXES
202.6 
176.8 
 
 
OTHER LIABILITIES
4.4 
6.1 
 
 
ENSCO SHAREHOLDERS' EQUITY
2,082.5 
2,013.2 
 
 
Total equity
2,082.5 
2,013.2 
 
 
Total liabilities and shareholders' equity
7,049.2 
6,363.8 
 
 
Pride International, Inc. [Member]
 
 
 
 
Guarantor Obligations [Line Items]
 
 
 
 
Cash and cash equivalents
104.4 
90.8 
5.3 
4.9 
Short-term Investments
 
 
Accounts receivable, net
 
 
 
Accounts receivable from affiliates
 
 
Total current assets
104.4 
90.8 
 
 
Goodwill
 
 
DUE FROM AFFILIATES
1,978.8 
1,835.0 
 
 
INVESTMENTS IN AFFILIATES
595.4 
461.6 
 
 
TOTAL ASSETS
2,678.6 
2,387.4 
 
 
Accounts payable and accrued liabilities
34.1 
34.3 
 
 
Total current liabilities
34.1 
34.3 
 
 
DUE TO AFFILIATES
1,752.7 
1,547.7 
 
 
LONG-TERM DEBT
1,955.4 
1,973.2 
 
 
OTHER LIABILITIES
6.2 
7.0 
 
 
ENSCO SHAREHOLDERS' EQUITY
(1,069.8)
(1,174.8)
 
 
Total equity
(1,069.8)
(1,174.8)
 
 
Total liabilities and shareholders' equity
2,678.6 
2,387.4 
 
 
Other Non-Guarantor Subsidiaries Of Ensco [Member]
 
 
 
 
Guarantor Obligations [Line Items]
 
 
 
 
Cash and cash equivalents
209.3 
286.6 
102.6 
113.7 
Short-term Investments
45.3 
 
 
Accounts receivable, net
714.4 
883.3 
 
 
Accounts receivable from affiliates
68.6 
134.6 
 
 
Other
553.7 
538.4 
 
 
Total current assets
1,546.0 
1,888.2 
 
 
PROPERTY AND EQUIPMENT, AT COST
15,808.1 
14,901.9 
 
 
Less accumulated depreciation
2,676.2 
2,404.9 
 
 
Property and equipment, net
13,131.9 
12,497.0 
 
 
Goodwill
276.1 
276.1 
 
 
DUE FROM AFFILIATES
7,443.9 
6,308.8 
 
 
OTHER ASSETS, NET
177.8 
249.8 
 
 
TOTAL ASSETS
22,575.7 
21,219.9 
 
 
Accounts payable and accrued liabilities
798.0 
944.9 
 
 
Accounts payable to affiliates
137.6 
197.7 
 
 
Current maturities of long-term debt
14.4 
34.8 
 
 
Total current liabilities
950.0 
1,177.4 
 
 
DUE TO AFFILIATES
10,374.7 
9,405.3 
 
 
LONG-TERM DEBT
38.8 
 
 
DEFERRED INCOME TAXES
7.4 
2.7 
 
 
OTHER LIABILITIES
516.0 
654.2 
 
 
ENSCO SHAREHOLDERS' EQUITY
10,716.3 
9,933.6 
 
 
NONCONTROLLING INTERESTS
11.3 
7.9 
 
 
Total equity
10,727.6 
9,941.5 
 
 
Total liabilities and shareholders' equity
22,575.7 
21,219.9 
 
 
Consolidating Adjustments [Member]
 
 
 
 
Guarantor Obligations [Line Items]
 
 
 
 
Short-term Investments
 
 
Accounts receivable, net
 
 
 
Accounts receivable from affiliates
(229.1)
(379.5)
 
 
Total current assets
(229.1)
(379.5)
 
 
Goodwill
 
 
DUE FROM AFFILIATES
(17,866.6)
(15,765.2)
 
 
INVESTMENTS IN AFFILIATES
(11,740.1)
(10,779.9)
 
 
TOTAL ASSETS
(29,835.8)
(26,924.6)
 
 
Accounts payable to affiliates
(229.1)
(379.5)
 
 
Total current liabilities
(229.1)
(379.5)
 
 
DUE TO AFFILIATES
(17,866.6)
(15,765.2)
 
 
ENSCO SHAREHOLDERS' EQUITY
(11,740.1)
(10,779.9)
 
 
Total equity
(11,740.1)
(10,779.9)
 
 
Total liabilities and shareholders' equity
$ (29,835.8)
$ (26,924.6)
 
 
Guarantee Of Registered Securities (Condensed Consolidating Statements Of Cash Flows) (Details) (USD $)
In Millions, unless otherwise specified
6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
OPERATING ACTIVITIES
 
 
Net cash (used in) provided by operating activities of continuing operations
$ 891.0 
$ 962.9 
INVESTING ACTIVITIES
 
 
Additions to property and equipment
(913.9)
(629.7)
Maturities of short-term investments
757.3 
50.0 
Payments to Acquire Marketable Securities
(650.0)
(33.3)
Other
1.1 
2.4 
Net cash provided by (used in) investing activities of continuing operations
(805.5)
(610.6)
FINANCING ACTIVITIES
 
 
Proceeds from Issuance of Senior Long-term Debt
1,078.7 
Cash dividends paid
(70.5)
(351.2)
Reduction of long-term borrowings
(1,058.0)
(23.7)
Payments of Debt Issuance Costs
(10.5)
Advances from (to) affiliates
Payments of Debt Extinguishment Costs
(30.3)
Other
(6.8)
(13.4)
Net cash provided by (used in) financing activities
(97.4)
(388.3)
DISCONTINUED OPERATIONS
 
 
Operating activities
(4.2)
(41.5)
Investing activities
(0.6)
56.7 
Net cash provided by discontinued operations
(4.8)
15.2 
Effect of exchange rate changes on cash and cash equivalents
0.2 
0.2 
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS
(16.5)
(20.6)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD
664.8 
165.6 
CASH AND CASH EQUIVALENTS, END OF PERIOD
648.3 
145.0 
Ensco Plc [Member]
 
 
OPERATING ACTIVITIES
 
 
Net cash (used in) provided by operating activities of continuing operations
(66.2)
(34.8)
INVESTING ACTIVITIES
 
 
Maturities of short-term investments
712.0 
 
Payments to Acquire Marketable Securities
(650.0)
 
FINANCING ACTIVITIES
 
 
Proceeds from Issuance of Senior Long-term Debt
1,078.7 
 
Cash dividends paid
(70.5)
(351.2)
Reduction of long-term borrowings
(998.3)
 
Payments of Debt Issuance Costs
(10.5)
 
Advances from (to) affiliates
88.2 
385.8 
Payments of Debt Extinguishment Costs
(27.2)
 
Other
(9.0)
(9.2)
Net cash provided by (used in) financing activities
51.4 
25.4 
DISCONTINUED OPERATIONS
 
 
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS
47.2 
(9.4)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD
287.4 
46.5 
CASH AND CASH EQUIVALENTS, END OF PERIOD
334.6 
37.1 
ENSCO International Inc. [Member]
 
 
OPERATING ACTIVITIES
 
 
Net cash (used in) provided by operating activities of continuing operations
(19.7)
(25.3)
INVESTING ACTIVITIES
 
 
Additions to property and equipment
(5.1)
(15.2)
Payments to Acquire Marketable Securities
 
Other
Net cash provided by (used in) investing activities of continuing operations
(5.1)
(15.2)
FINANCING ACTIVITIES
 
 
Proceeds from Issuance of Senior Long-term Debt
 
Cash dividends paid
 
Reduction of long-term borrowings
 
Payments of Debt Issuance Costs
 
Advances from (to) affiliates
24.8 
40.0 
Payments of Debt Extinguishment Costs
 
Other
 
Net cash provided by (used in) financing activities
24.8 
40.0 
DISCONTINUED OPERATIONS
 
 
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS
(0.5)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD
0.5 
CASH AND CASH EQUIVALENTS, END OF PERIOD
Pride International, Inc. [Member]
 
 
OPERATING ACTIVITIES
 
 
Net cash (used in) provided by operating activities of continuing operations
(49.9)
(43.6)
INVESTING ACTIVITIES
 
 
Payments to Acquire Marketable Securities
 
FINANCING ACTIVITIES
 
 
Proceeds from Issuance of Senior Long-term Debt
 
Cash dividends paid
 
Reduction of long-term borrowings
 
Payments of Debt Issuance Costs
 
Advances from (to) affiliates
63.5 
44.0 
Payments of Debt Extinguishment Costs
 
Other
 
Net cash provided by (used in) financing activities
63.5 
44.0 
DISCONTINUED OPERATIONS
 
 
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS
13.6 
0.4 
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD
90.8 
4.9 
CASH AND CASH EQUIVALENTS, END OF PERIOD
104.4 
5.3 
Other Non-Guarantor Subsidiaries Of Ensco [Member]
 
 
OPERATING ACTIVITIES
 
 
Net cash (used in) provided by operating activities of continuing operations
1,026.8 
1,066.6 
INVESTING ACTIVITIES
 
 
Additions to property and equipment
(908.8)
(614.5)
Maturities of short-term investments
45.3 
50.0 
Payments to Acquire Marketable Securities
33.3 
Other
1.1 
2.4 
Net cash provided by (used in) investing activities of continuing operations
(862.4)
(595.4)
FINANCING ACTIVITIES
 
 
Proceeds from Issuance of Senior Long-term Debt
 
Cash dividends paid
 
Reduction of long-term borrowings
(59.7)
(23.7)
Payments of Debt Issuance Costs
 
Advances from (to) affiliates
(176.5)
(469.8)
Payments of Debt Extinguishment Costs
(3.1)
 
Other
2.2 
(4.2)
Net cash provided by (used in) financing activities
(237.1)
(497.7)
DISCONTINUED OPERATIONS
 
 
Operating activities
(4.2)
(41.5)
Investing activities
(0.6)
56.7 
Net cash provided by discontinued operations
(4.8)
15.2 
Effect of exchange rate changes on cash and cash equivalents
0.2 
0.2 
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS
(77.3)
(11.1)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD
286.6 
113.7 
CASH AND CASH EQUIVALENTS, END OF PERIOD
209.3 
102.6 
Consolidating Adjustments [Member]
 
 
FINANCING ACTIVITIES
 
 
Proceeds from Issuance of Senior Long-term Debt
 
Cash dividends paid
 
Reduction of long-term borrowings
 
Payments of Debt Issuance Costs
 
Advances from (to) affiliates
 
Payments of Debt Extinguishment Costs
 
Other
$ 0