ENSCO PLC, 10-Q filed on 7/30/2013
Quarterly Report
Document And Entity Information
6 Months Ended
Jun. 30, 2013
Jul. 22, 2013
Document And Entity Information [Abstract]
 
 
Document Type
10-Q 
 
Amendment Flag
false 
 
Document Period End Date
Jun. 30, 2013 
 
Document Fiscal Year Focus
2013 
 
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
 
232,235,808 
Condensed Consolidated Statements Of Income (USD $)
In Millions, except Per Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
Income Statement [Abstract]
 
 
 
 
OPERATING REVENUES
$ 1,248.1 
$ 1,071.1 
$ 2,398.0 
$ 2,091.7 
OPERATING EXPENSES
 
 
 
 
Contract drilling (exclusive of depreciation)
606.8 
494.0 
1,167.6 
996.2 
Depreciation
152.9 
136.3 
301.9 
272.3 
General and administrative
36.4 
35.5 
74.2 
73.7 
Total operating expenses
796.1 
665.8 
1,543.7 
1,342.2 
OPERATING (LOSS) INCOME
452.0 
405.3 
854.3 
749.5 
OTHER INCOME (EXPENSE)
 
 
 
 
Interest income
4.7 
5.8 
8.0 
11.7 
Interest expense, net
(44.2)
(30.0)
(83.4)
(64.6)
Other, net
(0.3)
(0.5)
5.8 
1.5 
Other income (expense), net
(39.8)
(24.7)
(69.6)
(51.4)
(LOSS) INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES
412.2 
380.6 
784.7 
698.1 
PROVISION FOR INCOME TAXES
 
 
 
 
Current income tax expense
54.4 
36.9 
116.6 
69.2 
Deferred income tax (benefit) expense
(4.8)
6.5 
(15.3)
11.2 
Total provision for income taxes
49.6 
43.4 
101.3 
80.4 
INCOME FROM CONTINUING OPERATIONS
362.6 
337.2 
683.4 
617.7 
DISCONTINUED OPERATIONS
 
 
 
 
Income (loss) from discontinued operations, net
(7.3)
0.2 
(20.4)
(Loss) gain on disposal of discontinued operations, net
12.8 
(1.1)
12.8 
DISCONTINUED OPERATIONS, NET
5.5 
(0.9)
(7.6)
NET INCOME
362.6 
342.7 
682.5 
610.1 
NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS
(1.7)
(1.4)
(4.5)
(3.4)
NET INCOME ATTRIBUTABLE TO ENSCO
360.9 
341.3 
678.0 
606.7 
EARNINGS PER SHARE - BASIC AND DILUTED
 
 
 
 
Continuing operations (in dollars per share)
$ 1.55 
$ 1.45 
$ 2.91 
$ 2.65 
Discontinued operations (in dollars per share)
$ 0.00 
$ 0.02 
$ 0.00 
$ (0.03)
Earnings per share - basic and diluted (in dollar per share)
$ 1.55 
$ 1.47 
$ 2.91 
$ 2.62 
NET INCOME ATTRIBUTABLE TO ENSCO SHARES - BASIC AND DILUTED
$ 357.0 
$ 337.8 
$ 670.8 
$ 600.5 
WEIGHTED-AVERAGE SHARES OUTSTANDING
 
 
 
 
Basic (in shares)
230.8 
229.2 
230.6 
229.0 
Diluted (in shares)
231.0 
229.4 
230.8 
229.3 
CASH DIVIDENDS PER SHARE (in dollars per share)
$ 0.500 
$ 0.375 
$ 1.000 
$ 0.750 
Condensed Consolidated Statements of Comprehensive Income (USD $)
In Millions, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
Statement of Comprehensive Income [Abstract]
 
 
 
 
NET INCOME
$ 362.6 
$ 342.7 
$ 682.5 
$ 610.1 
OTHER COMPREHENSIVE (LOSS) INCOME, NET
 
 
 
 
Net change in fair value of derivatives
(9.6)
(0.1)
(13.6)
6.2 
Reclassification of net losses (gains) on derivative instruments from other comprehensive income into net income
0.4 
(0.8)
(0.6)
(0.9)
Other
0.6 
0.4 
0.5 
(1.5)
NET OTHER COMPREHENSIVE (LOSS) INCOME
(8.6)
(0.5)
(13.7)
3.8 
COMPREHENSIVE INCOME
354.0 
342.2 
668.8 
613.9 
COMPREHENSIVE INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS
(1.7)
(1.4)
(4.5)
(3.4)
COMPREHENSIVE INCOME ATTRIBUTABLE TO ENSCO
$ 352.3 
$ 340.8 
$ 664.3 
$ 610.5 
Condensed Consolidated Balance Sheets (USD $)
In Millions, unless otherwise specified
Jun. 30, 2013
Dec. 31, 2012
CURRENT ASSETS
 
 
Cash and cash equivalents
$ 489.8 
$ 487.1 
Accounts receivable, net
902.1 
811.4 
Other
391.6 
425.4 
Total current assets
1,783.5 
1,723.9 
PROPERTY AND EQUIPMENT, AT COST
16,276.4 
15,737.1 
Less accumulated depreciation
2,885.9 
2,591.5 
Property and equipment, net
13,390.5 
13,145.6 
GOODWILL
3,274.0 
3,274.0 
OTHER ASSETS, NET
358.6 
421.8 
TOTAL ASSETS
18,806.6 
18,565.3 
CURRENT LIABILITIES
 
 
Accounts payable - trade
300.9 
357.8 
Accrued liabilities and other
512.9 
584.4 
Current maturities of long-term debt
47.5 
47.5 
Total current liabilities
861.3 
989.7 
LONG-TERM DEBT
4,758.7 
4,798.4 
DEFERRED INCOME TAXES
338.5 
351.7 
OTHER LIABILITIES
530.3 
573.4 
COMMITMENTS AND CONTINGENCIES
   
   
ENSCO SHAREHOLDERS' EQUITY
 
 
Additional paid-in capital
5,443.4 
5,398.7 
Retained earnings
6,879.4 
6,434.7 
Accumulated other comprehensive income
6.4 
20.1 
Treasury shares, at cost, 6.0 million shares and 5.3 million shares
(43.2)
(31.0)
Total Ensco shareholders' equity
12,310.1 
11,846.4 
NONCONTROLLING INTERESTS
7.7 
5.7 
Total equity
12,317.8 
11,852.1 
Total liabilities and shareholders' equity
18,806.6 
18,565.3 
Class A ordinary shares, U.S. [Member]
 
 
ENSCO SHAREHOLDERS' EQUITY
 
 
Common shares, value
24.0 
23.8 
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, 2013
Dec. 31, 2012
Jun. 30, 2013
Class A ordinary shares, U.S. [Member]
USD ($)
Dec. 31, 2012
Class A ordinary shares, U.S. [Member]
USD ($)
Jun. 30, 2013
Common Class B, Par Value In GBP [Member]
GBP (£)
Dec. 31, 2012
Common Class B, Par Value In GBP [Member]
GBP (£)
Common stock, par value per share (in dollars per share or pounds sterling per share)
 
 
$ 0.10 
$ 0.10 
£ 1 
£ 1 
Common shares, shares authorized (in shares)
 
 
450,000,000 
450,000,000 
50,000 
50,000 
Common shares, shares issued (in shares)
 
 
239,500,000 
237,700,000 
50,000 
50,000 
Treasury shares, shares held (in shares)
6,000,000 
5,300,000 
 
 
 
 
Condensed Consolidated Statements Of Cash Flows (USD $)
In Millions, unless otherwise specified
6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
OPERATING ACTIVITIES
 
 
Net income
$ 682.5 
$ 610.1 
Adjustments to reconcile net income to net cash provided by operating activities of continuing operations:
 
 
Discontinued operations, net
0.9 
7.6 
Depreciation expense
301.9 
272.3 
Share-based compensation expense
26.1 
23.6 
Deferred income tax (benefit) expense
(15.3)
11.2 
Amortization of intangibles and other, net
(15.2)
(17.5)
Other
(6.2)
2.7 
Changes in operating assets and liabilities
(190.5)
106.0 
Net cash provided by operating activities of continuing operations
784.2 
1,016.0 
INVESTING ACTIVITIES
 
 
Additions to property and equipment
(598.6)
(1,047.1)
Maturities of short-term investments
50.0 
4.5 
Other
1.4 
2.6 
Net cash provided by (used in) investing activities of continuing operations
(547.2)
(1,040.0)
FINANCING ACTIVITIES
 
 
Cash dividends paid
(233.3)
(173.8)
Reduction of long-term borrowings
(23.7)
(23.7)
Proceeds from exercise of share options
22.0 
14.4 
Commercial paper borrowings, net
(102.9)
Reimbursement of equity issuance cost
66.7 
Other
(14.2)
(11.0)
Net cash provided by (used in) financing activities
(249.2)
(230.3)
DISCONTINUED OPERATIONS
 
 
Operating activities
0.2 
(5.4)
Investing activities
15.5 
54.5 
Net cash provided by discontinued operations
15.7 
49.1 
Effect of exchange rate changes on cash and cash equivalents
(0.8)
1.2 
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS
2.7 
(204.0)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD
487.1 
430.7 
CASH AND CASH EQUIVALENTS, END OF PERIOD
$ 489.8 
$ 226.7 
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, 2012 condensed consolidated balance sheet data were derived from our 2012 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, 2013 and 2012 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, 2013 are not necessarily indicative of the results of operations that will be realized for the year ending December 31, 2013. 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, 2012 and our quarterly report on Form 10-Q filed with the SEC on February 22, 2013 and April 30, 2013, respectively.
Fair Value Measurements
Fair Value Measurements
Fair Value Measurements
 
The following fair value hierarchy table categorizes information regarding our financial assets and liabilities 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, 2013
 
 
 

 
 

 
 

Supplemental executive retirement plan assets 
$
36.0

 
$

 
$

 
$
36.0

Total financial assets
36.0

 

 

 
36.0

Derivatives, net 
$

 
(18.2
)
 
$

 
$
(18.2
)
Total financial liabilities
$

 
$
(18.2
)
 
$

 
$
(18.2
)
 
 
 
 
 
 
 
 
As of December 31, 2012
 
 
 

 
 

 
 

Supplemental executive retirement plan assets
$
29.8

 
$

 
$

 
$
29.8

Derivatives, net 

 
5.2

 

 
5.2

Total financial assets
$
29.8

 
$
5.2

 
$

 
$
35.0



Supplemental Executive Retirement Plan Assets
 
Our supplemental executive retirement plans (the "SERP") are non-qualified plans that accord 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 generally are 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,
2013
 
December 31,
2012
 
Carrying Value  
 
Estimated Fair Value  
 
Carrying Value  
 
Estimated Fair Value  
4.7% Senior notes due 2021
$
1,475.9

 
$
1,594.7

 
$
1,474.7

 
$
1,715.6

6.875% Senior notes due 2020
1,032.8

 
1,069.7

 
1,040.6

 
1,138.3

3.25% Senior notes due 2016
995.7

 
1,046.4

 
995.1

 
1,068.9

8.5% Senior notes due 2019
608.5

 
632.1

 
616.4

 
661.7

7.875% Senior notes due 2040
383.2

 
410.8

 
383.8

 
423.9

7.2% Debentures due 2027
149.1

 
186.3

 
149.0

 
193.2

4.33% MARAD bonds, including current maturities, due 2016
95.5

 
96.0

 
112.3

 
113.0

6.36% MARAD bonds, including current maturities, due 2015
31.7

 
34.3

 
38.0

 
41.7

4.65% MARAD bonds, including current maturities, due 2020
33.8

 
38.1

 
36.0

 
41.4

Total
$
4,806.2

 
$
5,108.4

 
$
4,845.9

 
$
5,397.7



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, 2013 and December 31, 2012.
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 ("derivatives") 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 $18.2 million and net assets of $5.2 million associated with our foreign currency derivatives were included in our condensed consolidated balance sheets as of June 30, 2013 and December 31, 2012, 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 in our condensed consolidated balance sheets consisted of the following (in millions):
 
Derivative Assets
 
Derivative Liabilities
 
June 30,
2013
 
December 31,
2012
 
June 30,
2013
 
December 31,
2012
Derivatives Designated as Hedging Instruments
 
 
 

 
 

 
 

Foreign currency forward contracts - current(1)
$
.4

 
$
5.0

 
$
15.5

 
$
.3

Foreign currency forward contracts - non-current(2)

 
.5

 
2.6

 

 
.4

 
5.5

 
18.1

 
.3

Derivatives Not Designated as Hedging Instruments
 
 
 

 
 

 
 

Foreign currency forward contracts - current(1)
4.2

 
.2

 
4.7

 
.2

 
4.2

 
.2

 
4.7

 
.2

Total
$
4.6

 
$
5.7

 
$
22.8

 
$
.5

 
(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, 2013, we had cash flow hedges outstanding to exchange an aggregate $360.2 million for various foreign currencies, including $135.6 million for British pounds, $131.4 million for Brazilian reais, $35.0 million for Singapore dollars, $27.7 million for Australian dollars and $30.5 million for other currencies.
    
Gains and losses, net of tax, on derivatives designated as cash flow hedges included in our condensed consolidated statements of income and comprehensive income were as follows (in millions):

Three Months Ended June 30, 2013 and 2012
 
(Loss) Recognized in Other Comprehensive Income (Effective Portion)  
 
(Loss) Gain Reclassified from Accumulated Other Comprehensive Income ("AOCI") into Income (Effective Portion)(1)
 
(Loss) Gain Recognized in Income on Derivatives (Ineffective Portion and Amount Excluded from Effectiveness Testing)(2)
 
2013
 
2012
 
2013
 
2012
 
2013
 
2012
Interest rate lock contracts(3)
$

 
$

 
$
(.1
)
 
$
.1

 
$

 
$

Foreign currency forward contracts(4)
(9.6
)
 
(.1
)
 
(.3
)
 
.7

 
(1.6
)
 
1.0

Total
$
(9.6
)
 
$
(.1
)
 
$
(.4
)
 
$
.8

 
$
(1.6
)
 
$
1.0


Six Months Ended June 30, 2013 and 2012
 
(Loss) Gain Recognized in Other Comprehensive Income (Effective Portion)  
 
(Loss) Gain Reclassified from AOCI into Income (Effective Portion)(1)
 
(Loss) Gain Recognized in Income on Derivatives (Ineffective Portion and Amount Excluded from Effectiveness Testing)(2)
 
2013
 
2012
 
2013
 
2012
 
2013
 
2012
Interest rate lock contracts(3)
$

 
$

 
$
(.2
)
 
$
.2

 
$

 
$

Foreign currency forward contracts(5)
(13.6
)
 
6.2

 
.8

 
.7

 
(1.4
)
 
.2

Total
$
(13.6
)
 
$
6.2

 
$
.6

 
$
.9

 
$
(1.4
)
 
$
.2



(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 income.

(3)
Gains and 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 income.

(4) 
During the three-month period ended June 30, 2013, $500,000 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 income.

(5) 
During the six-month period ended June 30, 2013, $400,000 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 income.

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, 2013, we held derivatives not designated as hedging instruments to exchange an aggregate $180.1 million for various foreign currencies, including $95.8 million for euros, $18.3 million for British pounds, $18.2 million for Swiss francs, $15.5 million for Australian dollars, $13.4 million for Indonesian rupiah and $18.9 million for other currencies.
     
Net losses of $300,000 and net gains of $800,000 associated with our derivatives not designated as hedging instruments were included in other, net, in our condensed consolidated statements of income for the three-month periods ended June 30, 2013 and 2012, respectively. Net losses of $4.7 million and net gains of $1.7 million associated with our derivatives not designated as hedging instruments were included in other, net, in our condensed consolidated statements of income for the six-month periods ended June 30, 2013 and 2012, respectively.

As of June 30, 2013, 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 $7.6 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 on our condensed consolidated statements of income.
    
Income from continuing operations attributable to Ensco for the three-month and six-month periods ended June 30, 2013 and 2012 was as follows (in millions):
 
Three Months Ended
June 30,
 
Six Months Ended
June 30,
 
2013
 
2012
 
2013
 
2012
Income from continuing operations
$
362.6

 
$
337.2

 
$
683.4

 
$
617.7

Income from continuing operations attributable to noncontrolling interests
(1.7
)
 
(1.4
)
 
(4.5
)
 
(3.4
)
Income from continuing operations attributable to Ensco
$
360.9

 
$
335.8

 
$
678.9

 
$
614.3



Income (loss) from discontinued operations, net, for the three-month period ended June 30, 2012 and the six-month periods ended June 30, 2013 and 2012 was attributable to Ensco.
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 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 net income attributable to Ensco shares used in our basic and diluted EPS computations for the three-month and six-month periods ended June 30, 2013 and 2012 (in millions):
 
Three Months Ended
June 30,
 
Six Months Ended
June 30,
 
2013
 
2012
 
2013
 
2012
Net income attributable to Ensco
$
360.9

 
$
341.3

 
$
678.0

 
$
606.7

Net income allocated to non-vested share awards
(3.9
)
 
(3.5
)
 
(7.2
)
 
(6.2
)
Net income attributable to Ensco shares
$
357.0

 
$
337.8

 
$
670.8

 
$
600.5


 
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, 2013 and 2012 (in millions):
 
Three Months Ended
June 30,
 
Six Months Ended
June 30,
 
2013
 
2012
 
2013
 
2012
Weighted-average shares - basic
230.8

 
229.2

 
230.6

 
229.0

Potentially dilutive shares
.2

 
.2

 
.2

 
.3

Weighted-average shares - diluted
231.0

 
229.4

 
230.8

 
229.3


 
Antidilutive share options totaling 300,000 and 700,000 were excluded from the computation of diluted EPS for the three-month periods ended June 30, 2013 and 2012, respectively. Antidilutive share options totaling 300,000 and 400,000 were excluded from the computation of diluted EPS for the six-month periods ended June 30, 2013 and 2012, respectively.
Debt (Notes)
Debt
Debt

On May 7, 2013, we entered into a Fourth Amended and Restated Credit Agreement (the "Five-Year Credit Facility"), among Ensco, a subsidiary of Ensco, Citibank, N.A., as Administrative Agent, DNB Bank ASA, as Syndication Agent, and a syndicate of banks party thereto. The Five-Year Credit Facility provides for a $2.0 billion senior unsecured revolving credit facility to be used for general corporate purposes with a five-year term expiring on May 7, 2018. The Five-Year Credit Facility amends and restates our $1.45 billion credit agreement which was scheduled to mature on May 12, 2016. Advances under the Five-Year 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. We are required to pay a quarterly undrawn facility fee (currently 0.125% per annum) on the total $2.0 billion commitment, which is also based on our credit rating. In addition to other customary restrictive covenants, the Five-Year Credit Facility requires us to maintain a total debt to total capitalization ratio less than or equal to 50%. We have the right, subject to lender consent, to increase the commitments under the Five-Year Credit Facility to an aggregate amount of up to $2.5 billion. We had no amounts outstanding under the Five-Year Credit Facility as of June 30, 2013 and December 31, 2012.

In connection with the amendment of our Five-Year Credit Facility, we terminated our $450 million 364-day revolving unsecured credit facility dated as of May 12, 2011.
Share-Based Compensation
Share-Based Compensation
Share-Based Compensation

During the three-month and six-month periods ended June 30, 2013, we granted 700,000 and 1.0 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 ("LTIP"). 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 and six-month periods ended June 30, 2013 was $60.35 and $59.91 per share, respectively.
Discontinued Operations (Notes)
Discontinued Operations
Discontinued Operations
    
During the six-month period ended June 30, 2013, we sold jackup rig Pride Pennsylvania for net proceeds of $15.5 million. The proceeds were included in investing activities of discontinued operations in our condensed consolidated statement of cash flows for the six-month period ended June 30, 2013. We recognized a loss of $1.1 million in connection with the disposal, which was included in loss on disposal of discontinued operations, net in our condensed consolidated statement of income for the six-month period ended June 30, 2013. During the third quarter of 2012, we classified Pride Pennsylvania as held for sale and the rig was written down to fair value less estimated cost to sell. Pride Pennsylvania operating results were reclassified to discontinued operations in our condensed consolidated statements of income for the three-month and six-month periods ended June 30, 2012.

During 2012, we sold three jackup rigs (ENSCO 59, ENSCO 61 and Pride Hawaii), one moored semisubmersible rig (ENSCO 5003) and our last remaining barge rig (ENSCO I). The rigs' operating results were reclassified to discontinued operations in our condensed consolidated statements of income for the three-month and six-month periods ended June 30, 2012. Two of the jackup rigs (ENSCO 59 and ENSCO 61) were sold during the three-month period ended June 30, 2012 for net proceeds of $54.5 million. The proceeds were included in investing activities of discontinued operations in our condensed consolidated statement of cash flows for the six-month period ended June 30, 2012. We recognized a gain of $12.8 million in connection with the disposals, which was included in gain on disposal of discontinued operations, net in our condensed consolidated statements of income for the three-month and six-month periods ended June 30, 2012.

The following table summarizes income (loss) from discontinued operations for the three-month and six-month periods ended June 30, 2013 and 2012 (in millions):
 
Three Months Ended
June 30,
 
Six Months Ended
June 30,
 
2013
 
2012
 
2013
 
2012
Revenues
$

 
$
.9

 
$

 
$
6.7

Operating expenses

 
11.9

 
.1

 
33.3

Operating loss

 
(11.0
)
 
(.1
)
 
(26.6
)
Other income

 
.2

 
.3

 
.7

Income tax benefit

 
3.5

 

 
5.5

Gain (loss) on disposal of discontinued operations, net

 
12.8

 
(1.1
)
 
12.8

Income (loss) from discontinued operations
$

 
$
5.5

 
$
(.9
)
 
$
(7.6
)


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, 2013 was 12.0% and 12.9%, respectively, as compared to 11.4% and 11.5% in the prior year periods. Excluding the impact of discrete items, our consolidated effective income tax rate for the three-month and six-month periods ended June 30, 2013 was 11.8% and 12.0%, respectively, as compared to 12.7% and 12.5% for the prior year periods. Discrete tax expense for the six-month period ended June 30, 2013 was primarily attributable to the recognition of a liability for unrecognized tax benefits of $4.9 million associated with a tax position taken in prior years. Discrete tax benefit for the three-month and six-month periods ended June 30, 2012 was primarily attributable to derecognition of liabilities upon the lapse of the statute of limitations on uncertain tax positions.
Contingencies
Contingencies
Contingencies

ENSCO 74 Loss

During 2008, ENSCO 74 was lost as a result of Hurricane Ike in the U.S. Gulf of Mexico.  Portions of its legs remained underwater adjacent to the customer's platform, and the sunken rig hull of ENSCO 74 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.
 
In April 2012, we entered into an agreement with the customer pursuant to which, among other matters, the customer agreed to remove the legs. Regardless of the actual removal costs incurred by the customer, we agreed to pay $19.0 million in nine installments upon the completion of certain milestones during the removal. We have insurance coverage for the actual removal costs incurred by the customer.

We paid $14.0 million to the customer through June 30, 2013 and received $13.6 million in insurance reimbursements. Our condensed consolidated balance sheet as of June 30, 2013 included a $5.0 million liability for remaining installments due to the customer in accrued liabilities and other and a $5.4 million receivable for recovery of related costs under our insurance policy in other assets, net.

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. Currently, only three claims remain. 

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 sunken hull of ENSCO 74. 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. These matters are currently scheduled for trial in September 2013. Based on information currently available, primarily the adequacy of available defenses, we have not concluded that it is probable liabilities exist with respect to these matters.
 
We have liability insurance policies that provide coverage for claims such as the tanker and pipeline 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 self-insured retention for third-party claims and an annual aggregate limit of $500.0 million. 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.

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 Mississippi and Louisiana by approximately 100 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.

We intend to vigorously defend against these 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 Mississippi and Louisiana, 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.

    Environmental Matters

We currently are subject to pending notices of assessment relating to spills of drilling fluids, oil, chemicals, grease or fuel from drilling rigs operating offshore Brazil from 2008 to 2013, pursuant to which the governmental authorities have assessed, or are anticipated to assess, fines in an aggregate amount of approximately $300,000. We have contested these notices and appealed certain adverse decisions and are awaiting decisions in these cases. Although we do not expect final disposition of these assessments to have a material adverse effect on our financial position, operating results or cash flows, there can be no assurance as to the ultimate outcome of these assessments. A $300,000 liability related to these matters was included in accrued liabilities and other on our condensed consolidated balance sheet as of June 30, 2013.
 
We currently are subject to a pending administrative proceeding initiated during 2009 by a Spanish government authority seeking payment in an aggregate amount of approximately $4.0 million for an alleged environmental spill originating from ENSCO 5006 while it was operating offshore Spain. Our customer has posted guarantees with the Spanish government to cover potential penalties. Additionally, we expect to be indemnified for any payments resulting from this incident by our customer under the terms of the drilling contract. A criminal investigation of the incident was initiated during 2010 by a prosecutor in Tarragona, Spain, and the administrative proceedings have been suspended pending the outcome of this investigation. We do not know at this time what, if any, involvement we may have in this investigation.
 
We intend to vigorously defend ourselves in the administrative proceeding and any criminal investigation. At this time, we are unable to predict the outcome of these matters or estimate the extent to which we may be exposed to any resulting liability. Although we do not expect final disposition of this matter to have a material adverse effect on our financial position, operating results or cash flows, there can be no assurance as to the ultimate outcome of the proceedings.

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, 2013 totaled $160.3 million and are 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, 2013, we had not been required to make collateral deposits with respect to these agreements.
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 currently consists of management services on rigs owned by third-parties. Our two reportable segments, Floaters and Jackups, provide one service, contract drilling.
    
Segment information 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, 2013
 
Floaters
 
Jackups
 
Other
 
Operating Segments Total
 
Reconciling Items
 
Consolidated Total
Revenues
$
823.4

 
$
404.4

 
$
20.3

 
$
1,248.1

 
$

 
$
1,248.1

Operating expenses
 
 
 
 
 
 
 
 
 
 
 
Contract drilling (exclusive of depreciation)
377.2

 
213.6

 
16.0

 
606.8

 

 
606.8

Depreciation
110.9

 
40.4

 

 
151.3

 
1.6

 
152.9

General and administrative

 

 

 

 
36.4

 
36.4

Operating income (loss)
$
335.3

 
$
150.4

 
$
4.3

 
$
490.0

 
$
(38.0
)
 
$
452.0

Property and equipment, net
$
10,862.5

 
$
2,491.2

 
$

 
$
13,353.7

 
$
36.8

 
$
13,390.5

Three Months Ended June 30, 2012
 
Floaters
 
Jackups
 
Other
 
Operating Segments Total
 
Reconciling Items
 
Consolidated Total
Revenues
$
673.2

 
$
376.6

 
$
21.3

 
$
1,071.1

 
$

 
$
1,071.1

Operating expenses
 
 
 
 
 
 
 
 
 
 
 
Contract drilling (exclusive of depreciation)
293.4

 
184.8

 
15.8

 
494.0

 

 
494.0

Depreciation
93.0

 
41.4

 

 
134.4

 
1.9

 
136.3

General and administrative

 

 

 

 
35.5

 
35.5

Operating income (loss)
$
286.8

 
$
150.4

 
$
5.5

 
$
442.7

 
$
(37.4
)
 
$
405.3

Property and equipment, net
$
10,513.5

 
$
2,429.0

 
$
12.0

 
$
12,954.5

 
$
29.5

 
$
12,984.0


Six Months Ended June 30, 2013
 
Floaters
 
Jackups
 
Other
 
Operating Segments Total
 
Reconciling Items
 
Consolidated Total
Revenues
$
1,542.6

 
$
814.9

 
$
40.5

 
$
2,398.0

 
$

 
$
2,398.0

Operating expenses
 
 
 
 
 
 
 
 
 
 
 
Contract drilling (exclusive of depreciation)
722.1

 
413.8

 
31.7

 
1,167.6

 

 
1,167.6

Depreciation
218.0

 
80.7

 

 
298.7

 
3.2

 
301.9

General and administrative

 

 

 

 
74.2

 
74.2

Operating income (loss)
$
602.5

 
$
320.4

 
$
8.8

 
$
931.7

 
$
(77.4
)
 
$
854.3

Property and equipment, net
$
10,862.5

 
$
2,491.2

 
$

 
$
13,353.7

 
$
36.8

 
$
13,390.5


Six Months Ended June 30, 2012
 
Floaters
 
Jackups
 
Other
 
Operating Segments Total
 
Reconciling Items
 
Consolidated Total
Revenues
$
1,312.5

 
$
736.4

 
$
42.8

 
$
2,091.7

 
$

 
$
2,091.7

Operating expenses
 
 
 
 
 
 
 
 
 
 
 
Contract drilling (exclusive of depreciation)
606.3

 
358.4

 
31.5

 
996.2

 

 
996.2

Depreciation
184.0

 
82.8

 

 
266.8

 
5.5

 
272.3

General and administrative

 

 

 

 
73.7

 
73.7

Operating income (loss)
$
522.2

 
$
295.2

 
$
11.3

 
$
828.7

 
$
(79.2
)
 
$
749.5

Property and equipment, net
$
10,513.5

 
$
2,429.0

 
$
12.0

 
$
12,954.5

 
$
29.5

 
$
12,984.0



Information about Geographic Areas    

As of June 30, 2013, the geographic distribution of our drilling rigs by reportable segment was as follows:
 
Floaters

 
Jackups

 
Total(1)

North & South America (excluding Brazil)
8
 
14
 
22
Brazil
10
 
 
10
Europe & Mediterranean
1
 
8
 
9
Middle East & Africa
4
 
9
 
13
Asia & Pacific Rim
2
 
11
 
13
Asia & Pacific Rim (under construction)
4
 
4
 
8
Total
29
 
46
 
75

(1) 
 We provide management services on three 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, 2013
 
December 31, 2012
Trade
$
908.1

 
$
812.4

Other
11.8

 
18.2

 
919.9

 
830.6

Allowance for doubtful accounts
(17.8
)
 
(19.2
)
 
$
902.1

 
$
811.4



Other current assets consisted of the following (in millions):
 
June 30, 2013
 
December 31, 2012
Inventory
$
227.7

 
$
207.8

Prepaid taxes
69.0

 
62.2

Prepaid expenses
27.2

 
20.3

Deferred costs
38.9

 
46.9

Deferred tax assets
19.9

 
14.6

Short-term investments

 
50.0

Assets held for sale

 
14.2

Other
8.9

 
9.4

 
$
391.6

 
$
425.4

 
    
Other assets, net, consisted of the following (in millions):
 
June 30, 2013
 
December 31, 2012
Intangible assets
$
101.5

 
$
143.3

Unbilled receivables
67.4

 
77.1

Prepaid taxes on intercompany transfers of property
55.2

 
58.3

Supplemental executive retirement plan assets
36.0

 
29.8

Deferred costs
34.0

 
45.2

Warranty and other claim receivables
30.6

 
30.6

Deferred tax assets
22.1

 
19.3

Wreckage and debris removal receivables
5.4

 
13.2

Other
6.4

 
5.0

 
$
358.6

 
$
421.8



Accrued liabilities and other consisted of the following (in millions):
 
June 30, 2013
 
December 31, 2012
Personnel costs
$
181.5

 
$
231.1

Deferred revenue
137.0

 
146.2

Interest
68.0

 
67.9

Taxes
64.7

 
86.9

Derivative liabilities
20.2

 
.4

Wreckage and debris removal
5.0

 
9.0

Other
36.5

 
42.9

 
$
512.9

 
$
584.4


    
Other liabilities consisted of the following (in millions):
 
June 30, 2013
 
December 31, 2012
Deferred revenue
$
207.7

 
$
224.5

Unrecognized tax benefits (inclusive of interest and penalties)
135.8

 
129.6

Intangible liabilities
85.8

 
118.0

Supplemental executive retirement plan liabilities
39.2

 
33.3

Personnel costs
29.3

 
31.6

Other
32.5

 
36.4

 
$
530.3

 
$
573.4


 
Accumulated other comprehensive income consisted of the following (in millions):
 
June 30,
2013
 
December 31, 2012
Derivative Instruments
$
10.2

 
$
24.4

Other
(3.8
)
 
(4.3
)

$
6.4

 
$
20.1



Concentration of Risk

We are exposed to credit risk relating to our receivables from customers, our cash and cash equivalents 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 to date 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 counterparties of our derivatives through a variety of techniques, including transacting with multiple, high-quality financial institutions, thereby limiting our exposure to individual counterparties and generally 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, in addition to a master netting agreement.  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. 

During the three-month and six-month periods ended June 30, 2013, Petrobras provided an aggregate $215.5 million and $415.6 million, or 17%, of our consolidated revenues, respectively, which were attributable to our Floaters segment.

Revenues provided by our drilling operations in the U.S. Gulf of Mexico during the three-month period ended June 30, 2013 totaled $435.2 million, or 35%, of our consolidated revenues, of which 76% were provided by our Floaters segment. Revenues provided by our drilling operations in Brazil during the three-month period ended June 30, 2013 totaled $268.4 million, or 22%, of our consolidated revenues, all of which were provided by our Floaters segment. Revenues provided by our drilling operations in Angola during the three-month period ended June 30, 2013 totaled $127.0 million, or 10%, of our consolidated revenues, the majority of which were provided by our Floaters segment.

Revenues provided by our drilling operations in the U.S. Gulf of Mexico during the six-month period ended June 30, 2013 totaled $836.7 million, or 35%, of our consolidated revenues, of which 75% were provided by our Floaters segment. Revenues provided by our drilling operations in Brazil during the six-month period ended June 30, 2013 totaled $511.7 million, or 21%, of our consolidated revenues, all of which were provided by our Floaters 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 International Inc. ("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, 2013. 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 also is 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, 2013.
    
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 income for the three-month and six-month periods ended June 30, 2013 and 2012; the unaudited condensed consolidating statements of comprehensive income for the three-month and six-month periods ended June 30, 2013 and 2012; the condensed consolidating balance sheets as of June 30, 2013 (unaudited) and December 31, 2012; and the unaudited condensed consolidating statements of cash flows for the six-month periods ended June 30, 2013 and 2012, in accordance with Rule 3-10 of Regulation S-X.

ENSCO PLC AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENTS OF INCOME
Three Months Ended June 30, 2013
(in millions)
(Unaudited)

 
Ensco plc
 
ENSCO International Incorporated
 
Pride International, Inc.
 
Other Non-Guarantor Subsidiaries of Ensco
 
Consolidating Adjustments
 
Total
OPERATING REVENUES
$
5.5

 
$
38.2

 
$

 
$
1,282.3

 
$
(77.9
)
 
$
1,248.1

OPERATING EXPENSES
 
 
 
 
 
 
 
 
 
 
 
Contract drilling (exclusive of depreciation)
12.8

 
38.2

 

 
633.7

 
(77.9
)
 
606.8

Depreciation
.1

 
1.0

 

 
151.8

 

 
152.9

General and administrative
16.2

 
.1

 

 
20.1

 

 
36.4

OPERATING (LOSS) INCOME
(23.6
)
 
(1.1
)
 

 
476.7

 

 
452.0

OTHER EXPENSE, NET
(15.3
)
 
(5.7
)
 
(16.0
)
 
(2.8
)
 

 
(39.8
)
(LOSS) INCOME BEFORE INCOME TAXES
(38.9
)
 
(6.8
)
 
(16.0
)
 
473.9

 

 
412.2

INCOME TAX PROVISION

 
31.2

 

 
18.4

 

 
49.6

EQUITY EARNINGS IN AFFILIATES, NET OF TAX
399.8

 
78.8

 
77.2

 

 
(555.8
)
 

NET INCOME
360.9

 
40.8

 
61.2

 
455.5

 
(555.8
)
 
362.6

NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS

 

 

 
(1.7
)
 

 
(1.7
)
NET INCOME ATTRIBUTABLE TO ENSCO
$
360.9

 
$
40.8

 
$
61.2

 
$
453.8

 
$
(555.8
)
 
$
360.9

ENSCO PLC AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENTS OF INCOME
Three Months Ended June 30, 2012
(in millions)
(Unaudited)

 
Ensco plc
 
ENSCO International Incorporated
 
Pride International, Inc.
 
Other Non-Guarantor Subsidiaries of Ensco
 
Consolidating Adjustments
 
Total
OPERATING REVENUES
$
5.7

 
$
64.7

 
$

 
$
1,109.4

 
$
(108.7
)
 
$
1,071.1

OPERATING EXPENSES
 

 
 

 
 

 
 

 
 

 
 

Contract drilling (exclusive of depreciation)
13.2

 
64.7

 

 
524.8

 
(108.7
)
 
494.0

Depreciation
.1

 
.9

 

 
135.3

 

 
136.3

General and administrative
13.9

 
.1

 

 
21.5

 

 
35.5

OPERATING (LOSS) INCOME
(21.5
)
 
(1.0
)
 

 
427.8

 

 
405.3

OTHER (EXPENSE) INCOME, NET
(8.9
)
 
(5.6
)
 
(14.9
)
 
4.7

 

 
(24.7
)
(LOSS) INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES
(30.4
)
 
(6.6
)
 
(14.9
)
 
432.5

 

 
380.6

INCOME TAX PROVISION

 
21.7

 
7.0

 
14.7

 

 
43.4

DISCONTINUED OPERATIONS, NET

 

 

 
5.5

 

 
5.5

EQUITY EARNINGS IN AFFILIATES, NET OF TAX
371.7

 
81.4

 
97.1

 

 
(550.2
)
 

NET INCOME
341.3

 
53.1

 
75.2

 
423.3

 
(550.2
)
 
342.7

NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS

 

 

 
(1.4
)
 

 
(1.4
)
NET INCOME ATTRIBUTABLE TO ENSCO
$
341.3

 
$
53.1

 
$
75.2

 
$
421.9

 
$
(550.2
)
 
$
341.3


ENSCO PLC AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENTS OF INCOME
Six Months Ended June 30, 2013
(in millions)
(Unaudited)

 
Ensco plc
 
ENSCO International Incorporated
 
Pride International, Inc.
 
Other Non-Guarantor Subsidiaries of Ensco
 
Consolidating Adjustments
 
Total
OPERATING REVENUES
$
11.0

 
$
76.3

 
$

 
$
2,466.0

 
$
(155.3
)
 
$
2,398.0

OPERATING EXPENSES
 
 
 
 
 
 
 
 
 
 
 
Contract drilling (exclusive of depreciation)
25.2

 
76.3

 

 
1,221.4

 
(155.3
)
 
1,167.6

Depreciation
.2

 
1.8

 

 
299.9

 

 
301.9

General and administrative
33.1

 
.3

 

 
40.8

 

 
74.2

OPERATING (LOSS) INCOME
(47.5
)
 
(2.1
)
 

 
903.9

 

 
854.3

OTHER (EXPENSE) INCOME, NET
(29.9
)
 
(13.1
)
 
(30.6
)
 
4.0

 

 
(69.6
)
(LOSS) INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES
(77.4
)
 
(15.2
)
 
(30.6
)
 
907.9

 

 
784.7

INCOME TAX PROVISION

 
60.7

 

 
40.6

 

 
101.3

DISCONTINUED OPERATIONS, NET

 

 

 
(.9
)
 

 
(.9
)
EQUITY EARNINGS IN AFFILIATES, NET OF TAX
755.4

 
190.5

 
129.6

 

 
(1,075.5
)
 

NET INCOME
678.0

 
114.6

 
99.0

 
866.4

 
(1,075.5
)
 
682.5

NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS

 

 

 
(4.5
)
 

 
(4.5
)
NET INCOME ATTRIBUTABLE TO ENSCO
$
678.0

 
$
114.6

 
$
99.0

 
$
861.9

 
$
(1,075.5
)
 
$
678.0



ENSCO PLC AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENTS OF INCOME
Six Months Ended June 30, 2012
(in millions)
(Unaudited)

 
Ensco plc
 
ENSCO International Incorporated
 
Pride International, Inc.
 
Other Non-Guarantor Subsidiaries of Ensco
 
Consolidating Adjustments
 
Total
OPERATING REVENUES
$
33.3

 
$
75.3

 
$

 
$
2,152.4

 
$
(169.3
)
 
$
2,091.7

OPERATING EXPENSES
 

 
 

 
 

 
 

 
 

 
 

Contract drilling (exclusive of depreciation)
26.1

 
75.3

 

 
1,064.1

 
(169.3
)
 
996.2

Depreciation
.2

 
1.7

 

 
270.4

 

 
272.3

General and administrative
28.5

 
.1

 

 
45.1

 

 
73.7

OPERATING (LOSS) INCOME
(21.5
)
 
(1.8
)
 

 
772.8

 

 
749.5

OTHER (EXPENSE) INCOME, NET
(20.1
)
 
(5.9
)
 
(26.6
)
 
1.2

 

 
(51.4
)
(LOSS) INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES
(41.6
)
 
(7.7
)
 
(26.6
)
 
774.0

 

 
698.1

INCOME TAX PROVISION

 
32.9

 
7.0

 
40.5

 

 
80.4

DISCONTINUED OPERATIONS, NET

 

 

 
(7.6
)
 

 
(7.6
)
EQUITY EARNINGS IN AFFILIATES, NET OF TAX
648.3

 
125.6

 
176.8

 

 
(950.7
)
 

NET INCOME
606.7

 
85.0

 
143.2

 
725.9

 
(950.7
)
 
610.1

NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS

 

 

 
(3.4
)
 

 
(3.4
)
NET INCOME ATTRIBUTABLE TO ENSCO
$
606.7

 
$
85.0

 
$
143.2

 
$
722.5

 
$
(950.7
)
 
$
606.7







ENSCO PLC AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME
Three Months Ended June 30, 2013
(in millions)
(Unaudited)

 
Ensco plc
 
ENSCO International Incorporated
 
Pride International, Inc.
 
Other Non-Guarantor Subsidiaries of Ensco
 
Consolidating Adjustments
 
Total
 
 
 
 
 
 
 
 
 
 
 
 
NET INCOME
$
360.9

 
$
40.8

 
$
61.2

 
$
455.5

 
$
(555.8
)
 
$
362.6

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

 
(9.6
)
 

 

 

 
(9.6
)
Reclassification of net (gains) losses on derivative instruments from other comprehensive income into net income

 
(.7
)
 

 
1.1

 

 
.4

Other

 

 

 
.6

 

 
.6

NET OTHER COMPREHENSIVE (LOSS) INCOME

 
(10.3
)
 

 
1.7

 

 
(8.6
)
 
 
 
 
 
 
 
 
 
 
 
 
COMPREHENSIVE INCOME
360.9

 
30.5

 
61.2

 
457.2

 
(555.8
)
 
354.0

COMPREHENSIVE INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS

 

 

 
(1.7
)
 

 
(1.7
)
COMPREHENSIVE INCOME ATTRIBUTABLE TO ENSCO
$
360.9

 
$
30.5

 
$
61.2

 
$
455.5

 
$
(555.8
)
 
$
352.3


ENSCO PLC AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME
Three Months Ended June 30, 2012
(in millions)
(Unaudited)

 
Ensco plc
 
ENSCO International Incorporated
 
Pride International, Inc.
 
Other Non-Guarantor Subsidiaries of Ensco
 
Consolidating Adjustments
 
Total
 
 
 
 
 
 
 
 
 
 
 
 
NET INCOME
$
341.3

 
$
53.1

 
$
75.2

 
$
423.3

 
$
(550.2
)
 
$
342.7

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

 
.9

 

 
(1.0
)
 

 
(.1
)
Reclassification of net gains on derivative instruments from other comprehensive income into net income

 

 

 
(.8
)
 

 
(.8
)
Other

 

 

 
.4

 

 
.4

NET OTHER COMPREHENSIVE INCOME (LOSS)

 
.9

 

 
(1.4
)
 

 
(.5
)
 
 
 
 
 
 
 
 
 
 
 
 
COMPREHENSIVE INCOME
341.3

 
54.0

 
75.2

 
421.9

 
(550.2
)
 
342.2

COMPREHENSIVE INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS

 

 

 
(1.4
)
 

 
(1.4
)
COMPREHENSIVE INCOME ATTRIBUTABLE TO ENSCO
$
341.3

 
$
54.0

 
$
75.2

 
$
420.5

 
$
(550.2
)
 
$
340.8


ENSCO PLC AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME
Six Months Ended June 30, 2013
(in millions)
(Unaudited)

 
Ensco plc
 
ENSCO International Incorporated
 
Pride International, Inc.
 
Other Non-Guarantor Subsidiaries of Ensco
 
Consolidating Adjustments
 
Total
 
 
 
 
 
 
 
 
 
 
 
 
NET INCOME
$
678.0

 
$
114.6

 
$
99.0

 
$
866.4

 
$
(1,075.5
)
 
$
682.5

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

 
(13.6
)
 

 

 

 
(13.6
)
Reclassification of net gains on derivative instruments from other comprehensive income into net income

 
(.6
)
 

 

 

 
(.6
)
Other

 

 

 
.5

 

 
.5

NET OTHER COMPREHENSIVE (LOSS) INCOME

 
(14.2
)
 

 
.5

 

 
(13.7
)
 
 
 
 
 
 
 
 
 
 
 
 
COMPREHENSIVE INCOME
678.0

 
100.4

 
99.0

 
866.9

 
(1,075.5
)
 
668.8

COMPREHENSIVE INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS

 

 

 
(4.5
)
 

 
(4.5
)
COMPREHENSIVE INCOME ATTRIBUTABLE TO ENSCO
$
678.0

 
$
100.4

 
$
99.0

 
$
862.4

 
$
(1,075.5
)
 
$
664.3


ENSCO PLC AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME
Six Months Ended June 30, 2012
(in millions)
(Unaudited)

 
Ensco plc
 
ENSCO International Incorporated
 
Pride International, Inc.
 
Other Non-Guarantor Subsidiaries of Ensco
 
Consolidating Adjustments
 
Total
 
 
 
 
 
 
 
 
 
 
 
 
NET INCOME
$
606.7

 
$
85.0

 
$
143.2

 
$
725.9

 
$
(950.7
)
 
$
610.1

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

 
2.8

 

 
3.4

 

 
6.2

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

 
.1

 

 
(1.0
)
 

 
(.9
)
Other

 

 

 
(1.5
)
 

 
(1.5
)
NET OTHER COMPREHENSIVE INCOME

 
2.9

 

 
.9

 

 
3.8

 
 
 
 
 
 
 
 
 
 
 
 
COMPREHENSIVE INCOME
606.7

 
87.9

 
143.2

 
726.8

 
(950.7
)
 
613.9

COMPREHENSIVE INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS

 

 

 
(3.4
)
 

 
(3.4
)
COMPREHENSIVE INCOME ATTRIBUTABLE TO ENSCO
$
606.7

 
$
87.9

 
$
143.2

 
$
723.4

 
$
(950.7
)
 
$
610.5



ENSCO PLC AND SUBSIDIARIES
CONDENSED CONSOLIDATING BALANCE SHEETS
June 30, 2013
(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
$
291.4

 
$
.7

 
$
46.0

 
$
151.7

 
$

 
$
489.8

Accounts receivable, net 

 
.3

 

 
901.8

 

 
902.1

Accounts receivable from affiliates
1,324.1

 
232.3

 
2.8

 
2,450.2

 
(4,009.4
)
 

Other
2.9

 
36.0

 

 
352.7

 

 
391.6

Total current assets
1,618.4

 
269.3

 
48.8

 
3,856.4

 
(4,009.4
)
 
1,783.5

PROPERTY AND EQUIPMENT, AT COST
2.1

 
29.9

 

 
16,244.4

 

 
16,276.4

Less accumulated depreciation
1.3

 
24.3

 

 
2,860.3

 

 
2,885.9

Property and equipment, net  
.8

 
5.6

 

 
13,384.1

 

 
13,390.5

GOODWILL

 

 

 
3,274.0

 

 
3,274.0

DUE FROM AFFILIATES
2,315.0

 
3,832.7

 
1,766.0

 
4,377.9

 
(12,291.6
)
 

INVESTMENTS IN AFFILIATES
14,235.4

 
2,875.3

 
3,913.5

 

 
(21,024.2
)
 

OTHER ASSETS, NET 
10.1

 
66.1

 

 
282.4

 

 
358.6

 
$
18,179.7

 
$
7,049.0

 
$
5,728.3

 
$
25,174.8

 
$
(37,325.2
)
 
$
18,806.6

LIABILITIES AND SHAREHOLDERS' EQUITY 
 
 
 
 
 
 
 
 
CURRENT LIABILITIES
 
 
 
 
 
 
 
 
 
 
 
Accounts payable and accrued liabilities
$
31.4

 
$
39.9

 
$
34.2

 
$
708.3

 
$

 
$
813.8

Accounts payable to affiliates
2,412.9

 
112.9

 

 
1,483.6

 
(4,009.4
)
 

Current maturities of long-term debt

 

 

 
47.5

 

 
47.5

Total current liabilities
2,444.3

 
152.8

 
34.2

 
2,239.4

 
(4,009.4
)
 
861.3

DUE TO AFFILIATES 
946.0

 
2,405.0

 
1,026.9

 
7,913.7

 
(12,291.6
)
 

LONG-TERM DEBT 
2,471.6

 
149.1

 
2,024.5

 
113.5

 

 
4,758.7

DEFERRED INCOME TAXES

 
316.0

 

 
22.5

 

 
338.5

OTHER LIABILITIES

 
4.2

 
9.8

 
516.3

 

 
530.3

ENSCO SHAREHOLDERS' EQUITY 
12,317.8

 
4,021.9

 
2,632.9

 
14,361.7

 
(21,024.2
)
 
12,310.1

NONCONTROLLING INTERESTS

 

 

 
7.7

 

 
7.7

Total equity
12,317.8

 
4,021.9

 
2,632.9

 
14,369.4

 
(21,024.2
)
 
12,317.8

      
$
18,179.7

 
$
7,049.0

 
$
5,728.3

 
$
25,174.8

 
$
(37,325.2
)
 
$
18,806.6





ENSCO PLC AND SUBSIDIARIES
CONDENSED CONSOLIDATING BALANCE SHEETS
December 31, 2012
(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
$
271.8

 
$
1.7

 
$
85.0

 
$
128.6

 
$

 
$
487.1

Accounts receivable, net 

 
.2

 

 
811.2

 

 
811.4

Accounts receivable from affiliates
1,294.5

 
226.5

 

 
2,375.1

 
(3,896.1
)
 

Other
2.8

 
24.9

 

 
397.7

 

 
425.4

Total current assets
1,569.1

 
253.3

 
85.0

 
3,712.6

 
(3,896.1
)
 
1,723.9

PROPERTY AND EQUIPMENT, AT COST
2.1

 
30.2

 

 
15,704.8

 

 
15,737.1

Less accumulated depreciation
1.1

 
23.5

 

 
2,566.9

 

 
2,591.5

Property and equipment, net  
1.0

 
6.7

 

 
13,137.9

 

 
13,145.6

GOODWILL

 

 

 
3,274.0

 

 
3,274.0

DUE FROM AFFILIATES
3,483.5

 
3,594.7

 
1,628.4

 
4,748.9

 
(13,455.5
)
 

INVESTMENTS IN AFFILIATES
13,469.3

 
2,693.8

 
3,824.8

 

 
(19,987.9
)
 

OTHER ASSETS, NET 
11.3

 
67.4

 

 
343.1

 

 
421.8

 
$
18,534.2

 
$
6,615.9

 
$
5,538.2

 
$
25,216.5

 
$
(37,339.5
)
 
$
18,565.3

LIABILITIES AND SHAREHOLDERS' EQUITY 
 
 
 
 
 
 
 
 
CURRENT LIABILITIES
 
 
 
 
 
 
 
 
 
 
 
Accounts payable and accrued liabilities
$
31.0

 
$
28.1

 
$
34.1

 
$
849.0

 
$

 
$
942.2

Accounts payable to affiliates
2,364.8

 
136.9

 

 
1,394.4

 
(3,896.1
)
 

Current maturities of long-term debt

 

 

 
47.5

 

 
47.5

Total current liabilities
2,395.8

 
165.0

 
34.1

 
2,290.9

 
(3,896.1
)
 
989.7

DUE TO AFFILIATES 
1,816.7

 
2,054.7

 
877.5

 
8,706.6

 
(13,455.5
)
 

LONG-TERM DEBT 
2,469.6

 
149.0

 
2,040.8

 
139.0

 

 
4,798.4

DEFERRED INCOME TAXES

 
335.1

 

 
16.6

 

 
351.7

OTHER LIABILITIES

 

 
10.8

 
562.6

 

 
573.4

ENSCO SHAREHOLDERS' EQUITY 
11,852.1

 
3,912.1

 
2,575.0

 
13,495.1

 
(19,987.9
)
 
11,846.4

NONCONTROLLING INTERESTS

 

 

 
5.7

 

 
5.7

Total equity
11,852.1

 
3,912.1

 
2,575.0

 
13,500.8

 
(19,987.9
)
 
11,852.1

      
$
18,534.2

 
$
6,615.9

 
$
5,538.2

 
$
25,216.5

 
$
(37,339.5
)
 
$
18,565.3



ENSCO PLC AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS
Six Months Ended June 30, 2013
(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
$
(58.5
)
 
$
(106.3
)
 
$
(47.9
)
 
$
996.9

 
$

 
$
784.2

INVESTING ACTIVITIES
 
 
 
 
 
 
 
 
 
 
 
Additions to property and equipment 

 

 

 
(598.6
)
 

 
(598.6
)
Maturities of short-term investments

 

 

 
50.0

 

 
50.0

Other

 
.3

 

 
1.1

 

 
1.4

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

 
.3

 

 
(547.5
)
 

 
(547.2
)
FINANCING ACTIVITIES
 

 
 

 
 

 
 

 
 

 
 

Cash dividends paid
(233.3
)
 

 

 

 

 
(233.3
)
Reduction of long-term borrowings

 

 

 
(23.7
)
 

 
(23.7
)
Proceeds from exercise of share options
22.0

 

 

 

 

 
22.0

Advances from (to) affiliates
301.5

 
105.0

 
8.9

 
(415.4
)
 

 

Other
(12.1
)
 

 

 
(2.1
)
 

 
(14.2
)
Net cash provided by (used in) financing activities
78.1

 
105.0

 
8.9

 
(441.2
)
 

 
(249.2
)
DISCONTINUED OPERATIONS
 
 
 
 
 
 
 
 
 
 
 
Operating activities

 

 

 
.2

 

 
.2

Investing activities

 

 

 
15.5

 

 
15.5

Net cash provided by discontinued operations

 

 

 
15.7

 

 
15.7

Effect of exchange rate changes on cash and cash equivalents

 

 

 
(.8
)
 

 
(.8
)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS
19.6

 
(1.0
)
 
(39.0
)
 
23.1

 

 
2.7

CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD
271.8

 
1.7

 
85.0

 
128.6

 

 
487.1

CASH AND CASH EQUIVALENTS, END OF PERIOD
$
291.4

 
$
.7

 
$
46.0

 
$
151.7

 
$

 
$
489.8


ENSCO PLC AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS
Six Months Ended June 30, 2012
(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
$
(17.7
)

$
(38.0
)

$
10.9


$
1,060.8


$


$
1,016.0

INVESTING ACTIVITIES
 

 
 

 
 

 
 

 
 

 
 

Additions to property and equipment 

 

 

 
(1,047.1
)
 

 
(1,047.1
)
Maturities of short-term investments

 

 

 
4.5

 
 
 
4.5

Other

 
1.4

 

 
1.2

 

 
2.6

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

 
1.4

 

 
(1,041.4
)
 

 
(1,040.0
)
FINANCING ACTIVITIES
 

 
 

 
 

 
 

 
 

 
 

Cash dividends paid
(173.8
)
 

 

 

 

 
(173.8
)
Commercial paper borrowings, net
(102.9
)
 

 

 

 

 
(102.9
)
Reimbursement of equity issuance cost
66.7

 

 

 

 

 
66.7

Reduction of long-term borrowings

 

 

 
(23.7
)
 

 
(23.7
)
Proceeds from exercise of share options
2.5

 
11.9

 

 

 

 
14.4

Advances from (to) affiliates
18.7

 
42.4

 
(23.1
)
 
(38.0
)
 

 

Other
(8.4
)
 

 

 
(2.6
)
 

 
(11.0
)
Net cash (used in) provided by financing activities
(197.2
)
 
54.3

 
(23.1
)
 
(64.3
)
 

 
(230.3
)
DISCONTINUED OPERATIONS
 
 
 
 
 
 
 
 
 
 
 
Operating activities

 

 

 
(5.4
)
 

 
(5.4
)
Investing activities

 

 

 
54.5

 

 
54.5

Net cash provided by discontinued operations

 

 

 
49.1

 

 
49.1

Effect of exchange rate changes on cash and cash equivalents

 

 

 
1.2

 

 
1.2

NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS
(214.9
)
 
17.7

 
(12.2
)
 
5.4

 

 
(204.0
)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD
236.6

 

 
22.6

 
171.5

 

 
430.7

CASH AND CASH EQUIVALENTS, END OF PERIOD
$
21.7

 
$
17.7

 
$
10.4

 
$
176.9

 
$

 
$
226.7

Fair Value Measurements (Tables)
The following fair value hierarchy table categorizes information regarding our financial assets and liabilities 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, 2013
 
 
 

 
 

 
 

Supplemental executive retirement plan assets 
$
36.0

 
$

 
$

 
$
36.0

Total financial assets
36.0

 

 

 
36.0

Derivatives, net 
$

 
(18.2
)
 
$

 
$
(18.2
)
Total financial liabilities
$

 
$
(18.2
)
 
$

 
$
(18.2
)
 
 
 
 
 
 
 
 
As of December 31, 2012
 
 
 

 
 

 
 

Supplemental executive retirement plan assets
$
29.8

 
$

 
$

 
$
29.8

Derivatives, net 

 
5.2

 

 
5.2

Total financial assets
$
29.8

 
$
5.2

 
$

 
$
35.0

The carrying values and estimated fair values of our long-term debt instruments were as follows (in millions):
 
June 30,
2013
 
December 31,
2012
 
Carrying Value  
 
Estimated Fair Value  
 
Carrying Value  
 
Estimated Fair Value  
4.7% Senior notes due 2021
$
1,475.9

 
$
1,594.7

 
$
1,474.7

 
$
1,715.6

6.875% Senior notes due 2020
1,032.8

 
1,069.7

 
1,040.6

 
1,138.3

3.25% Senior notes due 2016
995.7

 
1,046.4

 
995.1

 
1,068.9

8.5% Senior notes due 2019
608.5

 
632.1

 
616.4

 
661.7

7.875% Senior notes due 2040
383.2

 
410.8

 
383.8

 
423.9

7.2% Debentures due 2027
149.1

 
186.3

 
149.0

 
193.2

4.33% MARAD bonds, including current maturities, due 2016
95.5

 
96.0

 
112.3

 
113.0

6.36% MARAD bonds, including current maturities, due 2015
31.7

 
34.3

 
38.0

 
41.7

4.65% MARAD bonds, including current maturities, due 2020
33.8

 
38.1

 
36.0

 
41.4

Total
$
4,806.2

 
$
5,108.4

 
$
4,845.9

 
$
5,397.7

Derivative Instruments (Tables)
Derivatives recorded at fair value in our condensed consolidated balance sheets consisted of the following (in millions):
 
Derivative Assets
 
Derivative Liabilities
 
June 30,
2013
 
December 31,
2012
 
June 30,
2013
 
December 31,
2012
Derivatives Designated as Hedging Instruments
 
 
 

 
 

 
 

Foreign currency forward contracts - current(1)
$
.4

 
$
5.0

 
$
15.5

 
$
.3

Foreign currency forward contracts - non-current(2)

 
.5

 
2.6

 

 
.4

 
5.5

 
18.1

 
.3

Derivatives Not Designated as Hedging Instruments
 
 
 

 
 

 
 

Foreign currency forward contracts - current(1)
4.2

 
.2

 
4.7

 
.2

 
4.2

 
.2

 
4.7

 
.2

Total
$
4.6

 
$
5.7

 
$
22.8

 
$
.5

 
(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 income and comprehensive income were as follows (in millions):

Three Months Ended June 30, 2013 and 2012
 
(Loss) Recognized in Other Comprehensive Income (Effective Portion)  
 
(Loss) Gain Reclassified from Accumulated Other Comprehensive Income ("AOCI") into Income (Effective Portion)(1)
 
(Loss) Gain Recognized in Income on Derivatives (Ineffective Portion and Amount Excluded from Effectiveness Testing)(2)
 
2013
 
2012
 
2013
 
2012
 
2013
 
2012
Interest rate lock contracts(3)
$

 
$

 
$
(.1
)
 
$
.1

 
$

 
$

Foreign currency forward contracts(4)
(9.6
)
 
(.1
)
 
(.3
)
 
.7

 
(1.6
)
 
1.0

Total
$
(9.6
)
 
$
(.1
)
 
$
(.4
)
 
$
.8

 
$
(1.6
)
 
$
1.0


Six Months Ended June 30, 2013 and 2012
 
(Loss) Gain Recognized in Other Comprehensive Income (Effective Portion)  
 
(Loss) Gain Reclassified from AOCI into Income (Effective Portion)(1)
 
(Loss) Gain Recognized in Income on Derivatives (Ineffective Portion and Amount Excluded from Effectiveness Testing)(2)
 
2013
 
2012
 
2013
 
2012
 
2013
 
2012
Interest rate lock contracts(3)
$

 
$

 
$
(.2
)
 
$
.2

 
$

 
$

Foreign currency forward contracts(5)
(13.6
)
 
6.2

 
.8

 
.7

 
(1.4
)
 
.2

Total
$
(13.6
)
 
$
6.2

 
$
.6

 
$
.9

 
$
(1.4
)
 
$
.2



(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 income.

(3)
Gains and 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 income.

(4) 
During the three-month period ended June 30, 2013, $500,000 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 income.

(5) 
During the six-month period ended June 30, 2013, $400,000 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 income.

Noncontrolling Interests (Tables)
Reconciliation of Income from Continuing Operations
Income from continuing operations attributable to Ensco for the three-month and six-month periods ended June 30, 2013 and 2012 was as follows (in millions):
 
Three Months Ended
June 30,
 
Six Months Ended
June 30,
 
2013
 
2012
 
2013
 
2012
Income from continuing operations
$
362.6

 
$
337.2

 
$
683.4

 
$
617.7

Income from continuing operations attributable to noncontrolling interests
(1.7
)
 
(1.4
)
 
(4.5
)
 
(3.4
)
Income from continuing operations attributable to Ensco
$
360.9

 
$
335.8

 
$
678.9

 
$
614.3

Earnings Per Share (Tables)
The following table is a reconciliation of net income attributable to Ensco shares used in our basic and diluted EPS computations for the three-month and six-month periods ended June 30, 2013 and 2012 (in millions):
 
Three Months Ended
June 30,
 
Six Months Ended
June 30,
 
2013
 
2012
 
2013
 
2012
Net income attributable to Ensco
$
360.9

 
$
341.3

 
$
678.0

 
$
606.7

Net income allocated to non-vested share awards
(3.9
)
 
(3.5
)
 
(7.2
)
 
(6.2
)
Net income attributable to Ensco shares
$
357.0

 
$
337.8

 
$
670.8

 
$
600.5

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, 2013 and 2012 (in millions):
 
Three Months Ended
June 30,
 
Six Months Ended
June 30,
 
2013
 
2012
 
2013
 
2012
Weighted-average shares - basic
230.8

 
229.2

 
230.6

 
229.0

Potentially dilutive shares
.2

 
.2

 
.2

 
.3

Weighted-average shares - diluted
231.0

 
229.4

 
230.8

 
229.3

Discontinued Operations (Tables)
Summary of Loss from Discontinued Operations
The following table summarizes income (loss) from discontinued operations for the three-month and six-month periods ended June 30, 2013 and 2012 (in millions):
 
Three Months Ended
June 30,
 
Six Months Ended
June 30,
 
2013
 
2012
 
2013
 
2012
Revenues
$

 
$
.9

 
$

 
$
6.7

Operating expenses

 
11.9

 
.1

 
33.3

Operating loss

 
(11.0
)
 
(.1
)
 
(26.6
)
Other income

 
.2

 
.3

 
.7

Income tax benefit

 
3.5

 

 
5.5

Gain (loss) on disposal of discontinued operations, net

 
12.8

 
(1.1
)
 
12.8

Income (loss) from discontinued operations
$

 
$
5.5

 
$
(.9
)
 
$
(7.6
)
Segment Information (Tables)
Three Months Ended June 30, 2013
 
Floaters
 
Jackups
 
Other
 
Operating Segments Total
 
Reconciling Items
 
Consolidated Total
Revenues
$
823.4

 
$
404.4

 
$
20.3

 
$
1,248.1

 
$

 
$
1,248.1

Operating expenses
 
 
 
 
 
 
 
 
 
 
 
Contract drilling (exclusive of depreciation)
377.2

 
213.6

 
16.0

 
606.8

 

 
606.8

Depreciation
110.9

 
40.4

 

 
151.3

 
1.6

 
152.9

General and administrative

 

 

 

 
36.4

 
36.4

Operating income (loss)
$
335.3

 
$
150.4

 
$
4.3

 
$
490.0

 
$
(38.0
)
 
$
452.0

Property and equipment, net
$
10,862.5

 
$
2,491.2

 
$

 
$
13,353.7

 
$
36.8

 
$
13,390.5

Three Months Ended June 30, 2012
 
Floaters
 
Jackups
 
Other
 
Operating Segments Total
 
Reconciling Items
 
Consolidated Total
Revenues
$
673.2

 
$
376.6

 
$
21.3

 
$
1,071.1

 
$

 
$
1,071.1

Operating expenses
 
 
 
 
 
 
 
 
 
 
 
Contract drilling (exclusive of depreciation)
293.4

 
184.8

 
15.8

 
494.0

 

 
494.0

Depreciation
93.0

 
41.4

 

 
134.4

 
1.9

 
136.3

General and administrative

 

 

 

 
35.5

 
35.5

Operating income (loss)
$
286.8

 
$
150.4

 
$
5.5

 
$
442.7

 
$
(37.4
)
 
$
405.3

Property and equipment, net
$
10,513.5

 
$
2,429.0

 
$
12.0

 
$
12,954.5

 
$
29.5

 
$
12,984.0


Six Months Ended June 30, 2013
 
Floaters
 
Jackups
 
Other
 
Operating Segments Total
 
Reconciling Items
 
Consolidated Total
Revenues
$
1,542.6

 
$
814.9

 
$
40.5

 
$
2,398.0

 
$

 
$
2,398.0

Operating expenses
 
 
 
 
 
 
 
 
 
 
 
Contract drilling (exclusive of depreciation)
722.1

 
413.8

 
31.7

 
1,167.6

 

 
1,167.6

Depreciation
218.0

 
80.7

 

 
298.7

 
3.2

 
301.9

General and administrative

 

 

 

 
74.2

 
74.2

Operating income (loss)
$
602.5

 
$
320.4

 
$
8.8

 
$
931.7

 
$
(77.4
)
 
$
854.3

Property and equipment, net
$
10,862.5

 
$
2,491.2

 
$

 
$
13,353.7

 
$
36.8

 
$
13,390.5


Six Months Ended June 30, 2012
 
Floaters
 
Jackups
 
Other
 
Operating Segments Total
 
Reconciling Items
 
Consolidated Total
Revenues
$
1,312.5

 
$
736.4

 
$
42.8

 
$
2,091.7

 
$

 
$
2,091.7

Operating expenses
 
 
 
 
 
 
 
 
 
 
 
Contract drilling (exclusive of depreciation)
606.3

 
358.4

 
31.5

 
996.2

 

 
996.2

Depreciation
184.0

 
82.8

 

 
266.8

 
5.5

 
272.3

General and administrative

 

 

 

 
73.7

 
73.7

Operating income (loss)
$
522.2

 
$
295.2

 
$
11.3

 
$
828.7

 
$
(79.2
)
 
$
749.5

Property and equipment, net
$
10,513.5

 
$
2,429.0

 
$
12.0

 
$
12,954.5

 
$
29.5

 
$
12,984.0

As of June 30, 2013, the geographic distribution of our drilling rigs by reportable segment was as follows:
 
Floaters

 
Jackups

 
Total(1)

North & South America (excluding Brazil)
8
 
14
 
22
Brazil
10
 
 
10
Europe & Mediterranean
1
 
8
 
9
Middle East & Africa
4
 
9
 
13
Asia & Pacific Rim
2
 
11
 
13
Asia & Pacific Rim (under construction)
4
 
4
 
8
Total
29
 
46
 
75

(1) 
 We provide management services on three 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, 2013
 
December 31, 2012
Trade
$
908.1

 
$
812.4

Other
11.8

 
18.2

 
919.9

 
830.6

Allowance for doubtful accounts
(17.8
)
 
(19.2
)
 
$
902.1

 
$
811.4

Other current assets consisted of the following (in millions):
 
June 30, 2013
 
December 31, 2012
Inventory
$
227.7

 
$
207.8

Prepaid taxes
69.0

 
62.2

Prepaid expenses
27.2

 
20.3

Deferred costs
38.9

 
46.9

Deferred tax assets
19.9

 
14.6

Short-term investments

 
50.0

Assets held for sale

 
14.2

Other
8.9

 
9.4

 
$
391.6

 
$
425.4

Other assets, net, consisted of the following (in millions):
 
June 30, 2013
 
December 31, 2012
Intangible assets
$
101.5

 
$
143.3

Unbilled receivables
67.4

 
77.1

Prepaid taxes on intercompany transfers of property
55.2

 
58.3

Supplemental executive retirement plan assets
36.0

 
29.8

Deferred costs
34.0

 
45.2

Warranty and other claim receivables
30.6

 
30.6

Deferred tax assets
22.1

 
19.3

Wreckage and debris removal receivables
5.4

 
13.2

Other
6.4

 
5.0

 
$
358.6

 
$
421.8

Accrued liabilities and other consisted of the following (in millions):
 
June 30, 2013
 
December 31, 2012
Personnel costs
$
181.5

 
$
231.1

Deferred revenue
137.0

 
146.2

Interest
68.0

 
67.9

Taxes
64.7

 
86.9

Derivative liabilities
20.2

 
.4

Wreckage and debris removal
5.0

 
9.0

Other
36.5

 
42.9

 
$
512.9

 
$
584.4

Other liabilities consisted of the following (in millions):
 
June 30, 2013
 
December 31, 2012
Deferred revenue
$
207.7

 
$
224.5

Unrecognized tax benefits (inclusive of interest and penalties)
135.8

 
129.6

Intangible liabilities
85.8

 
118.0

Supplemental executive retirement plan liabilities
39.2

 
33.3

Personnel costs
29.3

 
31.6

Other
32.5

 
36.4

 
$
530.3

 
$
573.4

Accumulated other comprehensive income consisted of the following (in millions):
 
June 30,
2013
 
December 31, 2012
Derivative Instruments
$
10.2

 
$
24.4

Other
(3.8
)
 
(4.3
)

$
6.4

 
$
20.1

Guarantee Of Registered Securities (Tables)

ENSCO PLC AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENTS OF INCOME
Three Months Ended June 30, 2013
(in millions)
(Unaudited)

 
Ensco plc
 
ENSCO International Incorporated
 
Pride International, Inc.
 
Other Non-Guarantor Subsidiaries of Ensco
 
Consolidating Adjustments
 
Total
OPERATING REVENUES
$
5.5

 
$
38.2

 
$

 
$
1,282.3

 
$
(77.9
)
 
$
1,248.1

OPERATING EXPENSES
 
 
 
 
 
 
 
 
 
 
 
Contract drilling (exclusive of depreciation)
12.8

 
38.2

 

 
633.7

 
(77.9
)
 
606.8

Depreciation
.1

 
1.0

 

 
151.8

 

 
152.9

General and administrative
16.2

 
.1

 

 
20.1

 

 
36.4

OPERATING (LOSS) INCOME
(23.6
)
 
(1.1
)
 

 
476.7

 

 
452.0

OTHER EXPENSE, NET
(15.3
)
 
(5.7
)
 
(16.0
)
 
(2.8
)
 

 
(39.8
)
(LOSS) INCOME BEFORE INCOME TAXES
(38.9
)
 
(6.8
)
 
(16.0
)
 
473.9

 

 
412.2

INCOME TAX PROVISION

 
31.2

 

 
18.4

 

 
49.6

EQUITY EARNINGS IN AFFILIATES, NET OF TAX
399.8

 
78.8

 
77.2

 

 
(555.8
)
 

NET INCOME
360.9

 
40.8

 
61.2

 
455.5

 
(555.8
)
 
362.6

NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS

 

 

 
(1.7
)
 

 
(1.7
)
NET INCOME ATTRIBUTABLE TO ENSCO
$
360.9

 
$
40.8

 
$
61.2

 
$
453.8

 
$
(555.8
)
 
$
360.9

ENSCO PLC AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENTS OF INCOME
Three Months Ended June 30, 2012
(in millions)
(Unaudited)

 
Ensco plc
 
ENSCO International Incorporated
 
Pride International, Inc.
 
Other Non-Guarantor Subsidiaries of Ensco
 
Consolidating Adjustments
 
Total
OPERATING REVENUES
$
5.7

 
$
64.7

 
$

 
$
1,109.4

 
$
(108.7
)
 
$
1,071.1

OPERATING EXPENSES
 

 
 

 
 

 
 

 
 

 
 

Contract drilling (exclusive of depreciation)
13.2

 
64.7

 

 
524.8

 
(108.7
)
 
494.0

Depreciation
.1

 
.9

 

 
135.3

 

 
136.3

General and administrative
13.9

 
.1

 

 
21.5

 

 
35.5

OPERATING (LOSS) INCOME
(21.5
)
 
(1.0
)
 

 
427.8

 

 
405.3

OTHER (EXPENSE) INCOME, NET
(8.9
)
 
(5.6
)
 
(14.9
)
 
4.7

 

 
(24.7
)
(LOSS) INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES
(30.4
)
 
(6.6
)
 
(14.9
)
 
432.5

 

 
380.6

INCOME TAX PROVISION

 
21.7

 
7.0

 
14.7

 

 
43.4

DISCONTINUED OPERATIONS, NET

 

 

 
5.5

 

 
5.5

EQUITY EARNINGS IN AFFILIATES, NET OF TAX
371.7

 
81.4

 
97.1

 

 
(550.2
)
 

NET INCOME
341.3

 
53.1

 
75.2

 
423.3

 
(550.2
)
 
342.7

NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS

 

 

 
(1.4
)
 

 
(1.4
)
NET INCOME ATTRIBUTABLE TO ENSCO
$
341.3

 
$
53.1

 
$
75.2

 
$
421.9

 
$
(550.2
)
 
$
341.3


ENSCO PLC AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENTS OF INCOME
Six Months Ended June 30, 2013
(in millions)
(Unaudited)

 
Ensco plc
 
ENSCO International Incorporated
 
Pride International, Inc.
 
Other Non-Guarantor Subsidiaries of Ensco
 
Consolidating Adjustments
 
Total
OPERATING REVENUES
$
11.0

 
$
76.3

 
$

 
$
2,466.0

 
$
(155.3
)
 
$
2,398.0

OPERATING EXPENSES
 
 
 
 
 
 
 
 
 
 
 
Contract drilling (exclusive of depreciation)
25.2

 
76.3

 

 
1,221.4

 
(155.3
)
 
1,167.6

Depreciation
.2

 
1.8

 

 
299.9

 

 
301.9

General and administrative
33.1

 
.3

 

 
40.8

 

 
74.2

OPERATING (LOSS) INCOME
(47.5
)
 
(2.1
)
 

 
903.9

 

 
854.3

OTHER (EXPENSE) INCOME, NET
(29.9
)
 
(13.1
)
 
(30.6
)
 
4.0

 

 
(69.6
)
(LOSS) INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES
(77.4
)
 
(15.2
)
 
(30.6
)
 
907.9

 

 
784.7

INCOME TAX PROVISION

 
60.7

 

 
40.6

 

 
101.3

DISCONTINUED OPERATIONS, NET

 

 

 
(.9
)
 

 
(.9
)
EQUITY EARNINGS IN AFFILIATES, NET OF TAX
755.4

 
190.5

 
129.6

 

 
(1,075.5
)
 

NET INCOME
678.0

 
114.6

 
99.0

 
866.4

 
(1,075.5
)
 
682.5

NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS

 

 

 
(4.5
)
 

 
(4.5
)
NET INCOME ATTRIBUTABLE TO ENSCO
$
678.0

 
$
114.6

 
$
99.0

 
$
861.9

 
$
(1,075.5
)
 
$
678.0



ENSCO PLC AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENTS OF INCOME
Six Months Ended June 30, 2012
(in millions)
(Unaudited)

 
Ensco plc
 
ENSCO International Incorporated
 
Pride International, Inc.
 
Other Non-Guarantor Subsidiaries of Ensco
 
Consolidating Adjustments
 
Total
OPERATING REVENUES
$
33.3

 
$
75.3

 
$

 
$
2,152.4

 
$
(169.3
)
 
$
2,091.7

OPERATING EXPENSES
 

 
 

 
 

 
 

 
 

 
 

Contract drilling (exclusive of depreciation)
26.1

 
75.3

 

 
1,064.1

 
(169.3
)
 
996.2

Depreciation
.2

 
1.7

 

 
270.4

 

 
272.3

General and administrative
28.5

 
.1

 

 
45.1

 

 
73.7

OPERATING (LOSS) INCOME
(21.5
)
 
(1.8
)
 

 
772.8

 

 
749.5

OTHER (EXPENSE) INCOME, NET
(20.1
)
 
(5.9
)
 
(26.6
)
 
1.2

 

 
(51.4
)
(LOSS) INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES
(41.6
)
 
(7.7
)
 
(26.6
)
 
774.0

 

 
698.1

INCOME TAX PROVISION

 
32.9

 
7.0

 
40.5

 

 
80.4

DISCONTINUED OPERATIONS, NET

 

 

 
(7.6
)
 

 
(7.6
)
EQUITY EARNINGS IN AFFILIATES, NET OF TAX
648.3

 
125.6

 
176.8

 

 
(950.7
)
 

NET INCOME
606.7

 
85.0

 
143.2

 
725.9

 
(950.7
)
 
610.1

NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS

 

 

 
(3.4
)
 

 
(3.4
)
NET INCOME ATTRIBUTABLE TO ENSCO
$
606.7

 
$
85.0

 
$
143.2

 
$
722.5

 
$
(950.7
)
 
$
606.7







ENSCO PLC AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME
Three Months Ended June 30, 2013
(in millions)
(Unaudited)

 
Ensco plc
 
ENSCO International Incorporated
 
Pride International, Inc.
 
Other Non-Guarantor Subsidiaries of Ensco
 
Consolidating Adjustments
 
Total
 
 
 
 
 
 
 
 
 
 
 
 
NET INCOME
$
360.9

 
$
40.8

 
$
61.2

 
$
455.5

 
$
(555.8
)
 
$
362.6

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

 
(9.6
)
 

 

 

 
(9.6
)
Reclassification of net (gains) losses on derivative instruments from other comprehensive income into net income

 
(.7
)
 

 
1.1

 

 
.4

Other

 

 

 
.6

 

 
.6

NET OTHER COMPREHENSIVE (LOSS) INCOME

 
(10.3
)
 

 
1.7

 

 
(8.6
)
 
 
 
 
 
 
 
 
 
 
 
 
COMPREHENSIVE INCOME
360.9

 
30.5

 
61.2

 
457.2

 
(555.8
)
 
354.0

COMPREHENSIVE INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS

 

 

 
(1.7
)
 

 
(1.7
)
COMPREHENSIVE INCOME ATTRIBUTABLE TO ENSCO
$
360.9

 
$
30.5

 
$
61.2

 
$
455.5

 
$
(555.8
)
 
$
352.3


ENSCO PLC AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME
Three Months Ended June 30, 2012
(in millions)
(Unaudited)

 
Ensco plc
 
ENSCO International Incorporated
 
Pride International, Inc.
 
Other Non-Guarantor Subsidiaries of Ensco
 
Consolidating Adjustments
 
Total
 
 
 
 
 
 
 
 
 
 
 
 
NET INCOME
$
341.3

 
$
53.1

 
$
75.2

 
$
423.3

 
$
(550.2
)
 
$
342.7

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

 
.9

 

 
(1.0
)
 

 
(.1
)
Reclassification of net gains on derivative instruments from other comprehensive income into net income

 

 

 
(.8
)
 

 
(.8
)
Other

 

 

 
.4

 

 
.4

NET OTHER COMPREHENSIVE INCOME (LOSS)

 
.9

 

 
(1.4
)
 

 
(.5
)
 
 
 
 
 
 
 
 
 
 
 
 
COMPREHENSIVE INCOME
341.3

 
54.0

 
75.2

 
421.9

 
(550.2
)
 
342.2

COMPREHENSIVE INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS

 

 

 
(1.4
)
 

 
(1.4
)
COMPREHENSIVE INCOME ATTRIBUTABLE TO ENSCO
$
341.3

 
$
54.0

 
$
75.2

 
$
420.5

 
$
(550.2
)
 
$
340.8


ENSCO PLC AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME
Six Months Ended June 30, 2013
(in millions)
(Unaudited)

 
Ensco plc
 
ENSCO International Incorporated
 
Pride International, Inc.
 
Other Non-Guarantor Subsidiaries of Ensco
 
Consolidating Adjustments
 
Total
 
 
 
 
 
 
 
 
 
 
 
 
NET INCOME
$
678.0

 
$
114.6

 
$
99.0

 
$
866.4

 
$
(1,075.5
)
 
$
682.5

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

 
(13.6
)
 

 

 

 
(13.6
)
Reclassification of net gains on derivative instruments from other comprehensive income into net income

 
(.6
)
 

 

 

 
(.6
)
Other

 

 

 
.5

 

 
.5

NET OTHER COMPREHENSIVE (LOSS) INCOME

 
(14.2
)
 

 
.5

 

 
(13.7
)
 
 
 
 
 
 
 
 
 
 
 
 
COMPREHENSIVE INCOME
678.0

 
100.4

 
99.0

 
866.9

 
(1,075.5
)
 
668.8

COMPREHENSIVE INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS

 

 

 
(4.5
)
 

 
(4.5
)
COMPREHENSIVE INCOME ATTRIBUTABLE TO ENSCO
$
678.0

 
$
100.4

 
$
99.0

 
$
862.4

 
$
(1,075.5
)
 
$
664.3


ENSCO PLC AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME
Six Months Ended June 30, 2012
(in millions)
(Unaudited)

 
Ensco plc
 
ENSCO International Incorporated
 
Pride International, Inc.
 
Other Non-Guarantor Subsidiaries of Ensco
 
Consolidating Adjustments
 
Total
 
 
 
 
 
 
 
 
 
 
 
 
NET INCOME
$
606.7

 
$
85.0

 
$
143.2

 
$
725.9

 
$
(950.7
)
 
$
610.1

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

 
2.8

 

 
3.4

 

 
6.2

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

 
.1

 

 
(1.0
)
 

 
(.9
)
Other

 

 

 
(1.5
)
 

 
(1.5
)
NET OTHER COMPREHENSIVE INCOME

 
2.9

 

 
.9

 

 
3.8

 
 
 
 
 
 
 
 
 
 
 
 
COMPREHENSIVE INCOME
606.7

 
87.9

 
143.2

 
726.8

 
(950.7
)
 
613.9

COMPREHENSIVE INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS

 

 

 
(3.4
)
 

 
(3.4
)
COMPREHENSIVE INCOME ATTRIBUTABLE TO ENSCO
$
606.7

 
$
87.9

 
$
143.2

 
$
723.4

 
$
(950.7
)
 
$
610.5

ENSCO PLC AND SUBSIDIARIES
CONDENSED CONSOLIDATING BALANCE SHEETS
June 30, 2013
(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
$
291.4

 
$
.7

 
$
46.0

 
$
151.7

 
$

 
$
489.8

Accounts receivable, net 

 
.3

 

 
901.8

 

 
902.1

Accounts receivable from affiliates
1,324.1

 
232.3

 
2.8

 
2,450.2

 
(4,009.4
)
 

Other
2.9

 
36.0

 

 
352.7

 

 
391.6

Total current assets
1,618.4

 
269.3

 
48.8

 
3,856.4

 
(4,009.4
)
 
1,783.5

PROPERTY AND EQUIPMENT, AT COST
2.1

 
29.9

 

 
16,244.4

 

 
16,276.4

Less accumulated depreciation
1.3

 
24.3

 

 
2,860.3

 

 
2,885.9

Property and equipment, net  
.8

 
5.6

 

 
13,384.1

 

 
13,390.5

GOODWILL

 

 

 
3,274.0

 

 
3,274.0

DUE FROM AFFILIATES
2,315.0

 
3,832.7

 
1,766.0

 
4,377.9

 
(12,291.6
)
 

INVESTMENTS IN AFFILIATES
14,235.4

 
2,875.3

 
3,913.5

 

 
(21,024.2
)
 

OTHER ASSETS, NET 
10.1

 
66.1

 

 
282.4

 

 
358.6

 
$
18,179.7

 
$
7,049.0

 
$
5,728.3

 
$
25,174.8

 
$
(37,325.2
)
 
$
18,806.6

LIABILITIES AND SHAREHOLDERS' EQUITY 
 
 
 
 
 
 
 
 
CURRENT LIABILITIES
 
 
 
 
 
 
 
 
 
 
 
Accounts payable and accrued liabilities
$
31.4

 
$
39.9

 
$
34.2

 
$
708.3

 
$

 
$
813.8

Accounts payable to affiliates
2,412.9

 
112.9

 

 
1,483.6

 
(4,009.4
)
 

Current maturities of long-term debt

 

 

 
47.5

 

 
47.5

Total current liabilities
2,444.3

 
152.8

 
34.2

 
2,239.4

 
(4,009.4
)
 
861.3

DUE TO AFFILIATES 
946.0

 
2,405.0

 
1,026.9

 
7,913.7

 
(12,291.6
)
 

LONG-TERM DEBT 
2,471.6

 
149.1

 
2,024.5

 
113.5

 

 
4,758.7

DEFERRED INCOME TAXES

 
316.0

 

 
22.5

 

 
338.5

OTHER LIABILITIES

 
4.2

 
9.8

 
516.3

 

 
530.3

ENSCO SHAREHOLDERS' EQUITY 
12,317.8

 
4,021.9

 
2,632.9

 
14,361.7

 
(21,024.2
)
 
12,310.1

NONCONTROLLING INTERESTS

 

 

 
7.7

 

 
7.7

Total equity
12,317.8

 
4,021.9

 
2,632.9

 
14,369.4

 
(21,024.2
)
 
12,317.8

      
$
18,179.7

 
$
7,049.0

 
$
5,728.3

 
$
25,174.8

 
$
(37,325.2
)
 
$
18,806.6





ENSCO PLC AND SUBSIDIARIES
CONDENSED CONSOLIDATING BALANCE SHEETS
December 31, 2012
(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
$
271.8

 
$
1.7

 
$
85.0

 
$
128.6

 
$

 
$
487.1

Accounts receivable, net 

 
.2

 

 
811.2

 

 
811.4

Accounts receivable from affiliates
1,294.5

 
226.5

 

 
2,375.1

 
(3,896.1
)
 

Other
2.8

 
24.9

 

 
397.7

 

 
425.4

Total current assets
1,569.1

 
253.3

 
85.0

 
3,712.6

 
(3,896.1
)
 
1,723.9

PROPERTY AND EQUIPMENT, AT COST
2.1

 
30.2

 

 
15,704.8

 

 
15,737.1

Less accumulated depreciation
1.1

 
23.5

 

 
2,566.9

 

 
2,591.5

Property and equipment, net  
1.0

 
6.7

 

 
13,137.9

 

 
13,145.6

GOODWILL

 

 

 
3,274.0

 

 
3,274.0

DUE FROM AFFILIATES
3,483.5

 
3,594.7

 
1,628.4

 
4,748.9

 
(13,455.5
)
 

INVESTMENTS IN AFFILIATES
13,469.3

 
2,693.8

 
3,824.8

 

 
(19,987.9
)
 

OTHER ASSETS, NET 
11.3

 
67.4

 

 
343.1

 

 
421.8

 
$
18,534.2

 
$
6,615.9

 
$
5,538.2

 
$
25,216.5

 
$
(37,339.5
)
 
$
18,565.3

LIABILITIES AND SHAREHOLDERS' EQUITY 
 
 
 
 
 
 
 
 
CURRENT LIABILITIES
 
 
 
 
 
 
 
 
 
 
 
Accounts payable and accrued liabilities
$
31.0

 
$
28.1

 
$
34.1

 
$
849.0

 
$

 
$
942.2

Accounts payable to affiliates
2,364.8

 
136.9

 

 
1,394.4

 
(3,896.1
)
 

Current maturities of long-term debt

 

 

 
47.5

 

 
47.5

Total current liabilities
2,395.8

 
165.0

 
34.1

 
2,290.9

 
(3,896.1
)
 
989.7

DUE TO AFFILIATES 
1,816.7

 
2,054.7

 
877.5

 
8,706.6

 
(13,455.5
)
 

LONG-TERM DEBT 
2,469.6

 
149.0

 
2,040.8

 
139.0

 

 
4,798.4

DEFERRED INCOME TAXES

 
335.1

 

 
16.6

 

 
351.7

OTHER LIABILITIES

 

 
10.8

 
562.6

 

 
573.4

ENSCO SHAREHOLDERS' EQUITY 
11,852.1

 
3,912.1

 
2,575.0

 
13,495.1

 
(19,987.9
)
 
11,846.4

NONCONTROLLING INTERESTS

 

 

 
5.7

 

 
5.7

Total equity
11,852.1

 
3,912.1

 
2,575.0

 
13,500.8

 
(19,987.9
)
 
11,852.1

      
$
18,534.2

 
$
6,615.9

 
$
5,538.2

 
$
25,216.5

 
$
(37,339.5
)
 
$
18,565.3

ENSCO PLC AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS
Six Months Ended June 30, 2013
(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
$
(58.5
)
 
$
(106.3
)
 
$
(47.9
)
 
$
996.9

 
$

 
$
784.2

INVESTING ACTIVITIES
 
 
 
 
 
 
 
 
 
 
 
Additions to property and equipment 

 

 

 
(598.6
)
 

 
(598.6
)
Maturities of short-term investments

 

 

 
50.0

 

 
50.0

Other

 
.3

 

 
1.1

 

 
1.4

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

 
.3

 

 
(547.5
)
 

 
(547.2
)
FINANCING ACTIVITIES
 

 
 

 
 

 
 

 
 

 
 

Cash dividends paid
(233.3
)
 

 

 

 

 
(233.3
)
Reduction of long-term borrowings

 

 

 
(23.7
)
 

 
(23.7
)
Proceeds from exercise of share options
22.0

 

 

 

 

 
22.0

Advances from (to) affiliates
301.5

 
105.0

 
8.9

 
(415.4
)
 

 

Other
(12.1
)
 

 

 
(2.1
)
 

 
(14.2
)
Net cash provided by (used in) financing activities
78.1

 
105.0

 
8.9

 
(441.2
)
 

 
(249.2
)
DISCONTINUED OPERATIONS
 
 
 
 
 
 
 
 
 
 
 
Operating activities

 

 

 
.2

 

 
.2

Investing activities

 

 

 
15.5

 

 
15.5

Net cash provided by discontinued operations

 

 

 
15.7

 

 
15.7

Effect of exchange rate changes on cash and cash equivalents

 

 

 
(.8
)
 

 
(.8
)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS
19.6

 
(1.0
)
 
(39.0
)
 
23.1

 

 
2.7

CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD
271.8

 
1.7

 
85.0

 
128.6

 

 
487.1

CASH AND CASH EQUIVALENTS, END OF PERIOD
$
291.4

 
$
.7

 
$
46.0

 
$
151.7

 
$

 
$
489.8


ENSCO PLC AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS
Six Months Ended June 30, 2012
(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
$
(17.7
)

$
(38.0
)

$
10.9


$
1,060.8


$


$
1,016.0

INVESTING ACTIVITIES
 

 
 

 
 

 
 

 
 

 
 

Additions to property and equipment 

 

 

 
(1,047.1
)
 

 
(1,047.1
)
Maturities of short-term investments

 

 

 
4.5

 
 
 
4.5

Other

 
1.4

 

 
1.2

 

 
2.6

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

 
1.4

 

 
(1,041.4
)
 

 
(1,040.0
)
FINANCING ACTIVITIES
 

 
 

 
 

 
 

 
 

 
 

Cash dividends paid
(173.8
)
 

 

 

 

 
(173.8
)
Commercial paper borrowings, net
(102.9
)
 

 

 

 

 
(102.9
)
Reimbursement of equity issuance cost
66.7

 

 

 

 

 
66.7

Reduction of long-term borrowings

 

 

 
(23.7
)
 

 
(23.7
)
Proceeds from exercise of share options
2.5

 
11.9

 

 

 

 
14.4

Advances from (to) affiliates
18.7

 
42.4

 
(23.1
)
 
(38.0
)
 

 

Other
(8.4
)
 

 

 
(2.6
)
 

 
(11.0
)
Net cash (used in) provided by financing activities
(197.2
)
 
54.3

 
(23.1
)
 
(64.3
)
 

 
(230.3
)
DISCONTINUED OPERATIONS
 
 
 
 
 
 
 
 
 
 
 
Operating activities

 

 

 
(5.4
)
 

 
(5.4
)
Investing activities

 

 

 
54.5

 

 
54.5

Net cash provided by discontinued operations

 

 

 
49.1

 

 
49.1

Effect of exchange rate changes on cash and cash equivalents

 

 

 
1.2

 

 
1.2

NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS
(214.9
)
 
17.7

 
(12.2
)
 
5.4

 

 
(204.0
)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD
236.6

 

 
22.6

 
171.5

 

 
430.7

CASH AND CASH EQUIVALENTS, END OF PERIOD
$
21.7

 
$
17.7

 
$
10.4

 
$
176.9

 
$

 
$
226.7

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, 2013
Dec. 31, 2012
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
Supplemental executive retirement plan assets
$ 36.0 
$ 29.8 
Derivatives, net
 
5.2 
Total financial assets
36.0 
35.0 
Derivatives, net
(18.2)
 
Total financial liabilities
(18.2)
 
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
36.0 
29.8 
Derivatives, net
 
Total financial assets
36.0 
29.8 
Derivatives, net
 
Total financial liabilities
 
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
Derivatives, net
 
5.2 
Total financial assets
5.2 
Derivatives, net
(18.2)
 
Total financial liabilities
(18.2)
 
Significant Unobservable Inputs (Level 3) [Member]
 
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
Supplemental executive retirement plan assets
Derivatives, net
 
Total financial assets
Derivatives, net
 
Total financial liabilities
$ 0 
 
Fair Value Measurements (Schedule Of Carrying Values And Estimated Fair Values Of Debt Instruments) (Details) (USD $)
In Millions, unless otherwise specified
Jun. 30, 2013
Dec. 31, 2012
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
Carrying Value
$ 4,806.2 
$ 4,845.9 
Estimated Fair Value
5,108.4 
5,397.7 
4.7% Senior notes due 2021 [Member]
 
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
Carrying Value
1,475.9 
1,474.7 
Estimated Fair Value
1,594.7 
1,715.6 
Debt instrument, interest rate, stated percentage
4.70% 
4.70% 
6.875% Senior notes due 2020 [Member]
 
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
Carrying Value
1,032.8 
1,040.6 
Estimated Fair Value
1,069.7 
1,138.3 
Debt instrument, interest rate, stated percentage
6.875% 
6.875% 
3.25% Senior notes due 2016 [Member]
 
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
Carrying Value
995.7 
995.1 
Estimated Fair Value
1,046.4 
1,068.9 
Debt instrument, interest rate, stated percentage
3.25% 
3.25% 
8.5% Senior notes due 2019 [Member]
 
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
Carrying Value
608.5 
616.4 
Estimated Fair Value
632.1 
661.7 
Debt instrument, interest rate, stated percentage
8.50% 
8.50% 
7.875% Senior notes due 2040 [Member]
 
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
Carrying Value
383.2 
383.8 
Estimated Fair Value
410.8 
423.9 
Debt instrument, interest rate, stated percentage
7.875% 
7.875% 
7.2% Debentures due 2027 [Member]
 
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
Carrying Value
149.1 
149.0 
Estimated Fair Value
186.3 
193.2 
Debt instrument, interest rate, stated percentage
7.20% 
7.20% 
4.33% MARAD bonds, including current maturities, due 2016 [Member]
 
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
Carrying Value
95.5 
112.3 
Estimated Fair Value
96.0 
113.0 
Debt instrument, interest rate, stated percentage
4.33% 
4.33% 
6.36% MARAD bonds, including current maturities, due 2015 [Member]
 
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
Carrying Value
31.7 
38.0 
Estimated Fair Value
34.3 
41.7 
Debt instrument, interest rate, stated percentage
6.36% 
6.36% 
4.65% MARAD bonds, including current maturities, due 2020 [Member]
 
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
Carrying Value
33.8 
36.0 
Estimated Fair Value
$ 38.1 
$ 41.4 
Debt instrument, interest rate, stated percentage
4.65% 
4.65% 
Derivative Instruments (Narrative) (Details) (USD $)
In Millions, unless otherwise specified
6 Months Ended 3 Months Ended 6 Months Ended
Jun. 30, 2013
Dec. 31, 2012
Jun. 30, 2013
Not Designated [Member]
Jun. 30, 2012
Not Designated [Member]
Jun. 30, 2013
Not Designated [Member]
Jun. 30, 2012
Not Designated [Member]
Jun. 30, 2013
Foreign Exchange [Member]
Cash Flow Hedges [Member]
Jun. 30, 2013
Foreign Exchange [Member]
Not Designated [Member]
Derivative Instruments, Gain (Loss) [Line Items]
 
 
 
 
 
 
 
 
Net liabilities associated with foreign currency derivatives
$ 18.2 
 
 
 
 
 
 
 
Net assets associated with foreign currency derivatives
 
5.2 
 
 
 
 
 
 
Maturity period of derivatives (in months)
18 months 
 
 
 
 
 
 
 
Aggregate cash flow hedges outstanding
 
 
 
 
 
 
360.2 
180.1 
Cash flow hedges outstanding for British pounds
 
 
 
 
 
 
135.6 
18.3 
Cash flow hedges outstanding for Brazilian reals
 
 
 
 
 
 
131.4 
 
Cash flow hedges outstanding for Singapore dollars
 
 
 
 
 
 
35.0 
 
Cash flow hedges outstanding for Australian dollars
 
 
 
 
 
 
27.7 
15.5 
Cash flow hedges outstanding for Indonesian rupiah
 
 
 
 
 
 
 
13.4 
Cash flow hedges outstanding for euros
 
 
 
 
 
 
 
95.8 
Cash flow hedges outstanding for Swiss francs
 
 
 
 
 
 
 
18.2 
Cash flow hedges outstanding for other currencies
 
 
 
 
 
 
30.5 
18.9 
Net gains on derivatives not designated as hedging instruments
 
 
0.3 
0.8 
4.7 
1.7 
 
 
Estimated amount of net gains associated with derivative instruments, net of tax
$ 7.6 
 
 
 
 
 
 
 
Derivative Instruments (Schedule Of Derivatives At Fair Value) (Details) (USD $)
In Millions, unless otherwise specified
Jun. 30, 2013
Dec. 31, 2012
Derivative [Line Items]
 
 
Total fair value of derivative assets
$ 4.6 
$ 5.7 
Total fair value of derivative liabilities
22.8 
0.5 
Designated As Hedging Instrument [Member]
 
 
Derivative [Line Items]
 
 
Total fair value of derivative assets
0.4 
5.5 
Total fair value of derivative liabilities
18.1 
0.3 
Designated As Hedging Instrument [Member] |
Foreign Currency Forward Contracts - Current [Member]
 
 
Derivative [Line Items]
 
 
Total fair value of derivative assets
0.4 1
5.0 1
Total fair value of derivative liabilities
15.5 1
0.3 1
Designated As Hedging Instrument [Member] |
Foreign Currency Forward Contracts - Non-Current [Member]
 
 
Derivative [Line Items]
 
 
Total fair value of derivative assets
2
0.5 2
Total fair value of derivative liabilities
2.6 2
2
Not Designated [Member]
 
 
Derivative [Line Items]
 
 
Total fair value of derivative assets
4.2 
0.2 
Total fair value of derivative liabilities
4.7 
0.2 
Not Designated [Member] |
Foreign Currency Forward Contracts - Current [Member]
 
 
Derivative [Line Items]
 
 
Total fair value of derivative assets
4.2 1
0.2 1
Total fair value of derivative liabilities
$ 4.7 1
$ 0.2 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, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
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)
(0.1)1 2
0.1 1 2
(0.2)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)
(9.6)4
(0.1)4
(13.6)5
6.2 5
Gain (Loss) Reclassified from Accumulated Other Comprehensive Income ("AOCI") into Income (Effective Portion)
(0.3)2 4
0.7 2 4
0.8 2 5
0.7 2 5
Gain (Loss) Recognized in Income on Derivatives (Ineffective Portion and Amount Excluded from Effectiveness Testing)
(1.6)3 4
1.0 3 4
(1.4)3 5
0.2 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)
(0.5)
 
0.4 
 
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 
 
0.4 
 
Cash Flow Hedges [Member]
 
 
 
 
Derivative [Line Items]
 
 
 
 
Gain (Loss) Recognized in Other Comprehensive Income ("OCI") (Effective Portion)
(9.6)
(0.1)
(13.6)
6.2 
Gain (Loss) Reclassified from Accumulated Other Comprehensive Income ("AOCI") into Income (Effective Portion)
(0.4)2
0.8 2
0.6 2
0.9 2
Gain (Loss) Recognized in Income on Derivatives (Ineffective Portion and Amount Excluded from Effectiveness Testing)
$ (1.6)3
$ 1.0 3
$ (1.4)3
$ 0.2 3
Noncontrolling Interests (Details) (USD $)
In Millions, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
Noncontrolling Interest [Abstract]
 
 
 
 
Income from continuing operations
$ 362.6 
$ 337.2 
$ 683.4 
$ 617.7 
Income from continuing operations attributable to noncontrolling interests
(1.7)
(1.4)
(4.5)
(3.4)
INCOME FROM CONTINUING OPERATIONS
$ 360.9 
$ 335.8 
$ 678.9 
$ 614.3 
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, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
Earnings Per Share [Abstract]
 
 
 
 
Net income attributable to Ensco
$ 360.9 
$ 341.3 
$ 678.0 
$ 606.7 
Net income allocated to non-vested share awards
(3.9)
(3.5)
(7.2)
(6.2)
Net income attributable to Ensco shares
$ 357.0 
$ 337.8 
$ 670.8 
$ 600.5 
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, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
Earnings Per Share [Abstract]
 
 
 
 
Weighted-average shares - basic (in shares)
230.8 
229.2 
230.6 
229.0 
Potentially dilutive share options (in shares)
0.2 
0.2 
0.2 
0.3 
Weighted-average shares - diluted (in shares)
231.0 
229.4 
230.8 
229.3 
Antidilutive share options excluded from computation of diluted earnings per share (in shares)
0.3 
0.7 
0.3 
0.4 
Debt (Details) (Five-Year Credit Facility [Member], USD $)
0 Months Ended
May 7, 2013
Jun. 30, 2013
Mar. 31, 2013
Debt Instrument [Line Items]
 
 
 
Current borrowing capacity
$ 2,000,000,000.0 
 
 
Term of credit facility agreement
5 years 
 
 
Maximum borrowing capacity
2,500,000,000.0 
2,000,000,000.0 
1,450,000,000.00 
Undrawn facility fee
0.125% 
 
 
364-Day Credit Facility [Member]
 
 
 
Debt Instrument [Line Items]
 
 
 
Term of credit facility agreement
364 days 
 
 
Maximum borrowing capacity
$ 450,000,000 
 
 
Maximum [Member]
 
 
 
Debt Instrument [Line Items]
 
 
 
Percentage of debt to total capitalization ratio
50.00% 
 
 
Base Rate [Member]
 
 
 
Debt Instrument [Line Items]
 
 
 
Basis spread on variable rate
0.125% 
 
 
London Interbank Offered Rate (LIBOR) [Member]
 
 
 
Debt Instrument [Line Items]
 
 
 
Basis spread on variable rate
1.125% 
 
 
Share-Based Compensation (Details) (Restricted share awards and share unit awards [Member], USD $)
In Millions, except Per Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2013
Jun. 30, 2013
Restricted share awards and share unit awards [Member]
 
 
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
 
 
Awards granted
0.7 
1.0 
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
$ 60.35 
$ 59.91 
Discontinued Operations (Narrative) (Details) (USD $)
In Millions, unless otherwise specified
3 Months Ended 6 Months Ended 3 Months Ended 12 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2012
Jackup Rigs Member
rigs
Dec. 31, 2012
Jackup Rigs Member
rigs
Dec. 31, 2012
Moored Semisubmersible Rigs [Member]
rigs
Dec. 31, 2012
Barge Rig Member
rigs
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
 
 
 
 
 
 
 
 
Number of rigs sold
 
 
 
 
Net proceeds from rig sale
 
$ 54.5 
$ 16.0 
 
 
 
 
 
Gain (loss) on disposal of discontinued operations, net
$ 0 
$ 12.8 
$ (1.1)
$ 12.8 
 
 
 
 
Discontinued Operations (Summary of Income From Discontinued Operations) (Details) (USD $)
In Millions, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
Discontinued Operations and Disposal Groups [Abstract]
 
 
 
 
Revenues
$ 0 
$ 0.9 
$ 0 
$ 6.7 
Operating expenses
11.9 
0.1 
33.3 
Operating loss before income taxes
(11.0)
(0.1)
(26.6)
Other income
0.2 
0.3 
0.7 
Income tax benefit
3.5 
5.5 
Gain (loss) on disposal of discontinued operations, net
12.8 
(1.1)
12.8 
Income (loss) from discontinued operations
$ 0 
$ 5.5 
$ (0.9)
$ (7.6)
Income Taxes (Narrative) (Details) (USD $)
In Millions, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
Components of Income Tax Expense (Benefit), Continuing Operations [Abstract]
 
 
 
 
Consolidated effective income tax rate including tax expense attributable to prior periods
12.00% 
11.40% 
12.90% 
11.50% 
Consolidated effective income tax rate, without tax expense attributable to prior periods
11.80% 
12.70% 
12.00% 
12.50% 
Unrecognized Tax Benefits, Increase Resulting from Prior Period Tax Positions
 
 
$ 4.9 
 
Contingencies (Narrative) (Details) (USD $)
In Millions, unless otherwise specified
1 Months Ended 6 Months Ended 15 Months Ended
Apr. 30, 2013
payments
Jun. 30, 2013
occurrence
claim
plaintiffs
Jun. 30, 2013
claim
plaintiffs
Dec. 31, 2012
Mar. 31, 2009
mi
Oil and Gas Delivery Commitments and Contracts [Line Items]
 
 
 
 
 
Distance from original drilling location in miles
 
 
 
 
95 
Leg and debris removal costs
$ 19.0 
 
 
 
 
Number of payments related to leg and debris removal costs
 
 
 
 
Payments for leg and debris removal
 
 
14.0 
 
 
Insurance reimbursements
 
 
13.6 
 
 
Liability for remaining installments due to the customer
 
5.0 
5.0 
9.0 
 
Receivable for recovery of related costs
 
5.4 
5.4 
13.2 
 
Loss Contingency, Pending Claims, Number
 
 
 
Civil litigation claim damages for cost of repair and business interruption due to pipeline rupture
 
26.0 
26.0 
 
 
Liability insurance self-insured retention per occurrence
 
10.0 
10.0 
 
 
Annual liability coverage limit for wreckage and debris removal costs
 
500.0 
 
 
 
Liability insurance self-insured retention
 
15.0 
15.0 
 
 
Number of Occurrences
 
 
 
 
Liability insurance self insured retention for each occurrence thereafter
 
1.0 
 
 
 
Number of plaintiffs
 
100 
100 
 
 
Environmental liabilities
 
0.3 
 
 
 
Letters of Credit Outstanding, Amount
 
160.3 
160.3 
 
 
Spain [Member]
 
 
 
 
 
Oil and Gas Delivery Commitments and Contracts [Line Items]
 
 
 
 
 
Aggregate amount of pending administrative proceeding raised by governmental authority
 
4.0 
 
 
 
Minimum [Member]
 
 
 
 
 
Oil and Gas Delivery Commitments and Contracts [Line Items]
 
 
 
 
 
Loss Contingency, Damages Sought, Value
 
$ 5.0 
 
 
 
Segment Information (Narrative) (Details)
6 Months Ended
Jun. 30, 2013
segments
contract
Segment Reporting Information, Revenue for Reportable Segment [Abstract]
 
Number of operating segments (in segments)
Number of reportable segments (in segments)
Number of drilling management contracts (in contracts)
Segment Information (Schedule Of Segment Reporting Information) (Details) (USD $)
3 Months Ended 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
Dec. 31, 2012
Segment Reporting Information [Line Items]
 
 
 
 
 
Revenues
$ 1,248,100,000 
$ 1,071,100,000 
$ 2,398,000,000 
$ 2,091,700,000 
 
Operating Expenses [Abstract]
 
 
 
 
 
Contract drilling (exclusive of depreciation)
606,800,000 
494,000,000 
1,167,600,000 
996,200,000 
 
Depreciation
152,900,000 
136,300,000 
301,900,000 
272,300,000 
 
General and administrative
36,400,000 
35,500,000 
74,200,000 
73,700,000 
 
OPERATING (LOSS) INCOME
452,000,000 
405,300,000 
854,300,000 
749,500,000 
 
Property and equipment, net
13,390,500,000 
12,984,000,000 
13,390,500,000 
12,984,000,000 
13,145,600,000 
Floaters [Member]
 
 
 
 
 
Segment Reporting Information [Line Items]
 
 
 
 
 
Revenues
823,400,000 
673,200,000 
1,542,600,000 
1,312,500,000 
 
Operating Expenses [Abstract]
 
 
 
 
 
Contract drilling (exclusive of depreciation)
377,200,000 
293,400,000 
722,100,000 
606,300,000 
 
Depreciation
110,900,000 
93,000,000 
218,000,000 
184,000,000 
 
General and administrative
 
OPERATING (LOSS) INCOME
335,300,000 
286,800,000 
602,500,000 
522,200,000 
 
Property and equipment, net
10,862,500,000 
10,513,500,000 
10,862,500,000 
10,513,500,000 
 
Jackup [Member]
 
 
 
 
 
Segment Reporting Information [Line Items]
 
 
 
 
 
Revenues
404,400,000 
376,600,000 
814,900,000 
736,400,000 
 
Operating Expenses [Abstract]
 
 
 
 
 
Contract drilling (exclusive of depreciation)
213,600,000 
184,800,000 
413,800,000 
358,400,000 
 
Depreciation
40,400,000 
41,400,000 
80,700,000 
82,800,000 
 
General and administrative
 
OPERATING (LOSS) INCOME
150,400,000 
150,400,000 
320,400,000 
295,200,000 
 
Property and equipment, net
2,491,200,000 
2,429,000,000 
2,491,200,000 
2,429,000,000 
 
Other [Member]
 
 
 
 
 
Segment Reporting Information [Line Items]
 
 
 
 
 
Revenues
20,300,000 
21,300,000 
40,500,000 
42,800,000 
 
Operating Expenses [Abstract]
 
 
 
 
 
Contract drilling (exclusive of depreciation)
16,000,000 
15,800,000 
31,700,000 
31,500,000 
 
Depreciation
 
General and administrative
 
OPERATING (LOSS) INCOME
4,300,000 
5,500,000 
8,800,000 
11,300,000 
 
Property and equipment, net
12,000,000 
12,000,000 
 
Operating Segments Total [Member]
 
 
 
 
 
Segment Reporting Information [Line Items]
 
 
 
 
 
Revenues
1,248,100,000 
1,071,100,000 
2,398,000,000 
2,091,700,000 
 
Operating Expenses [Abstract]
 
 
 
 
 
Contract drilling (exclusive of depreciation)
606,800,000 
494,000,000 
1,167,600,000 
996,200,000 
 
Depreciation
151,300,000 
134,400,000 
298,700,000 
266,800,000 
 
General and administrative
 
OPERATING (LOSS) INCOME
490,000,000 
442,700,000 
931,700,000 
828,700,000 
 
Property and equipment, net
13,353,700,000 
12,954,500,000 
13,353,700,000 
12,954,500,000 
 
Reconciling Items [Member]
 
 
 
 
 
Segment Reporting Information [Line Items]
 
 
 
 
 
Revenues
 
Operating Expenses [Abstract]
 
 
 
 
 
Contract drilling (exclusive of depreciation)
 
Depreciation
1,600,000 
1,900,000 
3,200,000 
5,500,000 
 
General and administrative
36,400,000 
35,500,000 
74,200,000 
73,700,000 
 
OPERATING (LOSS) INCOME
(38,000,000)
(37,400,000)
(77,400,000)
(79,200,000)
 
Property and equipment, net
$ 36,800,000 
$ 29,500,000 
$ 36,800,000 
$ 29,500,000 
 
Segment Information (Schedule Of Geographic Distribution Of Rigs By Segment) (Details)
Jun. 30, 2013
Segment Reporting Information [Line Items]
 
Number of contract drilling rigs (in rigs)
75 1
Floaters [Member]
 
Segment Reporting Information [Line Items]
 
Number of contract drilling rigs (in rigs)
29 
Jackup [Member]
 
Segment Reporting Information [Line Items]
 
Number of contract drilling rigs (in rigs)
46 
North & South America (Excl. Brazil) [Member]
 
Segment Reporting Information [Line Items]
 
Number of contract drilling rigs (in rigs)
22 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)
14 
Brazil [Member]
 
Segment Reporting Information [Line Items]
 
Number of contract drilling rigs (in rigs)
10 1
Brazil [Member] |
Floaters [Member]
 
Segment Reporting Information [Line Items]
 
Number of contract drilling rigs (in rigs)
10 
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)
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)
Middle East & Africa [Member]
 
Segment Reporting Information [Line Items]
 
Number of contract drilling rigs (in rigs)
13 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)
Asia & Pacific Rim [Member]
 
Segment Reporting Information [Line Items]
 
Number of contract drilling rigs (in rigs)
13 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)
11 
Asia & Pacific Rim (under construction) [Member]
 
Segment Reporting Information [Line Items]
 
Number of contract drilling rigs (in rigs)
1
Asia & Pacific Rim (under construction) [Member] |
Floaters [Member]
 
Segment Reporting Information [Line Items]
 
Number of contract drilling rigs (in rigs)
Asia & Pacific Rim (under construction) [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 $)
In Millions, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2013
Jun. 30, 2013
US Gulf Of Mexico [Member] |
Geographic Concentration Risk [Member]
 
 
Revenues
$ 435.2 
$ 836.7 
Concentration risk, percentage
35.00% 
35.00% 
US Gulf Of Mexico [Member] |
Floaters [Member] |
Geographic Concentration Risk [Member]
 
 
Concentration risk, percentage
76.00% 
75.00% 
Brazil [Member] |
Geographic Concentration Risk [Member]
 
 
Revenues
268.4 
511.7 
Concentration risk, percentage
 
21.00% 
Brazil [Member] |
Floaters [Member] |
Geographic Concentration Risk [Member]
 
 
Concentration risk, percentage
22.00% 
 
Angola [Member] |
Geographic Concentration Risk [Member]
 
 
Revenues
127.0 
 
Angola [Member] |
Floaters [Member] |
Geographic Concentration Risk [Member]
 
 
Concentration risk, percentage
10.00% 
 
Petrobras [Member] |
Product Concentration Risk [Member]
 
 
Revenues
$ 215.5 
$ 415.6 
Petrobras [Member] |
Floaters [Member] |
Product Concentration Risk [Member]
 
 
Concentration risk, percentage
 
17.00% 
Supplemental Financial Information (Accounts Receivable, Net) (Details) (USD $)
In Millions, unless otherwise specified
Jun. 30, 2013
Dec. 31, 2012
Supplemental Information For Property, Casualty Insurance Underwriters [Line Items]
 
 
Total fair value of derivative liabilities
$ 22.8 
$ 0.5 
Accounts receivable
919.9 
830.6 
Allowance for doubtful accounts
(17.8)
(19.2)
Accounts receivable, net
902.1 
811.4 
Trade [Member]
 
 
Supplemental Information For Property, Casualty Insurance Underwriters [Line Items]
 
 
Accounts receivable
908.1 
812.4 
Other [Member]
 
 
Supplemental Information For Property, Casualty Insurance Underwriters [Line Items]
 
 
Accounts receivable
$ 11.8 
$ 18.2 
Supplemental Financial Information (Other Current Assets) (Details) (USD $)
In Millions, unless otherwise specified
Jun. 30, 2013
Dec. 31, 2012
Supplemental Financial Information [Abstract]
 
 
Total fair value of derivative liabilities
$ 22.8 
$ 0.5 
Inventory
227.7 
207.8 
Prepaid taxes
69.0 
62.2 
Prepaid expenses
27.2 
20.3 
Deferred mobilization costs
38.9 
46.9 
Deferred tax assets
19.9 
14.6 
Short-term Investments
50.0 
Assets held for sale
14.2 
Other
8.9 
9.4 
Other current assets
$ 391.6 
$ 425.4 
Supplemental Financial Information (Other Assets, Net) (Details) (USD $)
In Millions, unless otherwise specified
Jun. 30, 2013
Dec. 31, 2012
Supplemental Financial Information [Abstract]
 
 
Total fair value of derivative liabilities
$ 22.8 
$ 0.5 
Intangible assets
101.5 
143.3 
Unbilled reimbursable receivables
67.4 
77.1 
Prepaid taxes on intercompany transfers of property
55.2 
58.3 
Warranty and other claim receivables
30.6 
30.6 
Supplemental executive retirement plan assets
36.0 
29.8 
Wreckage and debris removal receivables
5.4 
13.2 
Deferred mobilization costs
34.0 
45.2 
Deferred tax assets
22.1 
19.3 
Other
6.4 
5.0 
Other Assets, Net
$ 358.6 
$ 421.8 
Supplemental Financial Information (Accrued Liabilities) (Details) (USD $)
In Millions, unless otherwise specified
Jun. 30, 2013
Dec. 31, 2012
Supplemental Financial Information [Abstract]
 
 
Personnel costs
$ 181.5 
$ 231.1 
Deferred revenue
137.0 
146.2 
Interest
68.0 
67.9 
Taxes
64.7 
86.9 
Derivative liabilities
20.2 
0.4 
Wreckage and debris removal
5.0 
9.0 
Other
36.5 
42.9 
Accrued liabilities and other
$ 512.9 
$ 584.4 
Supplemental Financial Information (Other Liabilities) (Details) (USD $)
In Millions, unless otherwise specified
Jun. 30, 2013
Dec. 31, 2012
Supplemental Financial Information [Abstract]
 
 
Total fair value of derivative liabilities
$ 22.8 
$ 0.5 
Deferred revenue
207.7 
224.5 
Intangible liabilities
85.8 
118.0 
Unrecognized tax benefits (inclusive of interest and penalties)
135.8 
129.6 
Supplemental executive retirement plan liabilities
39.2 
33.3 
Other Employee Related Liabilities
29.3 
31.6 
Other
32.5 
36.4 
Other liabilities
$ 530.3 
$ 573.4 
Supplemental Financial Information (Accumulated Other Comprehensive Income) (Details) (USD $)
In Millions, unless otherwise specified
Jun. 30, 2013
Dec. 31, 2012
Supplemental Financial Information [Abstract]
 
 
Derivative Instruments
$ 10.2 
$ 24.4 
Other
(3.8)
(4.3)
Accumulated other comprehensive income
$ 6.4 
$ 20.1 
Guarantee Of Registered Securities (Narrative) (Details) (USD $)
In Millions, unless otherwise specified
6 Months Ended
Jun. 30, 2013
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% 
Senior note, maturity year
2019 
6.875% Senior Notes due 2020 [Member]
 
Guarantor Obligations [Line Items]
 
Debt instrument interest rate stated percentage
6.875% 
Senior note, maturity year
2020 
7.875% Senior Notes [Member]
 
Guarantor Obligations [Line Items]
 
Debt instrument interest rate stated percentage
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, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
Guarantor Obligations [Line Items]
 
 
 
 
OPERATING REVENUES
$ 1,248,100,000 
$ 1,071,100,000 
$ 2,398,000,000 
$ 2,091,700,000 
Contract drilling (exclusive of depreciation)
606,800,000 
494,000,000 
1,167,600,000 
996,200,000 
Depreciation
152,900,000 
136,300,000 
301,900,000 
272,300,000 
General and administrative
36,400,000 
35,500,000 
74,200,000 
73,700,000 
OPERATING (LOSS) INCOME
452,000,000 
405,300,000 
854,300,000 
749,500,000 
OTHER INCOME (EXPENSE), NET
(39,800,000)
(24,700,000)
(69,600,000)
(51,400,000)
(LOSS) INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES
412,200,000 
380,600,000 
784,700,000 
698,100,000 
INCOME TAX PROVISION
49,600,000 
43,400,000 
101,300,000 
80,400,000 
DISCONTINUED OPERATIONS, NET
5,500,000 
(900,000)
(7,600,000)
NET INCOME
362,600,000 
342,700,000 
682,500,000 
610,100,000 
NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS
(1,700,000)
(1,400,000)
(4,500,000)
(3,400,000)
NET INCOME ATTRIBUTABLE TO ENSCO
360,900,000 
341,300,000 
678,000,000 
606,700,000 
Ensco Plc [Member]
 
 
 
 
Guarantor Obligations [Line Items]
 
 
 
 
OPERATING REVENUES
5,500,000 
5,700,000 
11,000,000 
33,300,000 
Contract drilling (exclusive of depreciation)
12,800,000 
13,200,000 
25,200,000 
26,100,000 
Depreciation
100,000 
100,000 
200,000 
200,000 
General and administrative
16,200,000 
13,900,000 
33,100,000 
28,500,000 
OPERATING (LOSS) INCOME
(23,600,000)
(21,500,000)
(47,500,000)
(21,500,000)
OTHER INCOME (EXPENSE), NET
(15,300,000)
(8,900,000)
(29,900,000)
(20,100,000)
(LOSS) INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES
(38,900,000)
(30,400,000)
(77,400,000)
(41,600,000)
DISCONTINUED OPERATIONS, NET
 
 
 
EQUITY EARNINGS IN AFFILIATES, NET OF TAX
399,800,000 
371,700,000 
755,400,000 
648,300,000 
NET INCOME
360,900,000 
341,300,000 
678,000,000 
606,700,000 
NET INCOME ATTRIBUTABLE TO ENSCO
360,900,000 
341,300,000 
678,000,000 
606,700,000 
ENSCO International Inc. [Member]
 
 
 
 
Guarantor Obligations [Line Items]
 
 
 
 
OPERATING REVENUES
38,200,000 
64,700,000 
76,300,000 
75,300,000 
Contract drilling (exclusive of depreciation)
38,200,000 
64,700,000 
76,300,000 
75,300,000 
Depreciation
1,000,000 
900,000 
1,800,000 
1,700,000 
General and administrative
100,000 
100,000 
300,000 
100,000 
OPERATING (LOSS) INCOME
(1,100,000)
(1,000,000)
(2,100,000)
(1,800,000)
OTHER INCOME (EXPENSE), NET
(5,700,000)
(5,600,000)
(13,100,000)
(5,900,000)
(LOSS) INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES
(6,800,000)
(6,600,000)
(15,200,000)
(7,700,000)
INCOME TAX PROVISION
31,200,000 
21,700,000 
60,700,000 
32,900,000 
DISCONTINUED OPERATIONS, NET
 
 
 
EQUITY EARNINGS IN AFFILIATES, NET OF TAX
78,800,000 
81,400,000 
190,500,000 
125,600,000 
NET INCOME
40,800,000 
53,100,000 
114,600,000 
85,000,000 
NET INCOME ATTRIBUTABLE TO ENSCO
40,800,000 
53,100,000 
114,600,000 
85,000,000 
Pride International, Inc. [Member]
 
 
 
 
Guarantor Obligations [Line Items]
 
 
 
 
OTHER INCOME (EXPENSE), NET
(16,000,000)
(14,900,000)
(30,600,000)
(26,600,000)
(LOSS) INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES
(16,000,000)
(14,900,000)
(30,600,000)
(26,600,000)
INCOME TAX PROVISION
7,000,000 
7,000,000 
DISCONTINUED OPERATIONS, NET
 
 
 
EQUITY EARNINGS IN AFFILIATES, NET OF TAX
77,200,000 
97,100,000 
129,600,000 
176,800,000 
NET INCOME
61,200,000 
75,200,000 
99,000,000 
143,200,000 
NET INCOME ATTRIBUTABLE TO ENSCO
61,200,000 
75,200,000 
99,000,000 
143,200,000 
Other Non-Guarantor Subsidiaries Of Ensco [Member]
 
 
 
 
Guarantor Obligations [Line Items]
 
 
 
 
OPERATING REVENUES
1,282,300,000 
1,109,400,000 
2,466,000,000 
2,152,400,000 
Contract drilling (exclusive of depreciation)
633,700,000 
524,800,000 
1,221,400,000 
1,064,100,000 
Depreciation
151,800,000 
135,300,000 
299,900,000 
270,400,000 
General and administrative
20,100,000 
21,500,000 
40,800,000 
45,100,000 
OPERATING (LOSS) INCOME
476,700,000 
427,800,000 
903,900,000 
772,800,000 
OTHER INCOME (EXPENSE), NET
(2,800,000)
4,700,000 
4,000,000 
1,200,000 
(LOSS) INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES
473,900,000 
432,500,000 
907,900,000 
774,000,000 
INCOME TAX PROVISION
18,400,000 
14,700,000 
40,600,000 
40,500,000 
DISCONTINUED OPERATIONS, NET
 
5,500,000 
(900,000)
(7,600,000)
NET INCOME
455,500,000 
423,300,000 
866,400,000 
725,900,000 
NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS
(1,700,000)
(1,400,000)
(4,500,000)
(3,400,000)
NET INCOME ATTRIBUTABLE TO ENSCO
453,800,000 
421,900,000 
861,900,000 
722,500,000 
Consolidating Adjustments [Member]
 
 
 
 
Guarantor Obligations [Line Items]
 
 
 
 
OPERATING REVENUES
(77,900,000)
(108,700,000)
(155,300,000)
(169,300,000)
Contract drilling (exclusive of depreciation)
(77,900,000)
(108,700,000)
(155,300,000)
(169,300,000)
DISCONTINUED OPERATIONS, NET
 
 
 
EQUITY EARNINGS IN AFFILIATES, NET OF TAX
(555,800,000)
(550,200,000)
(1,075,500,000)
(950,700,000)
NET INCOME
(555,800,000)
(550,200,000)
(1,075,500,000)
(950,700,000)
NET INCOME ATTRIBUTABLE TO ENSCO
$ (555,800,000)
$ (550,200,000)
$ (1,075,500,000)
$ (950,700,000)
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, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
NET INCOME
$ 362.6 
$ 342.7 
$ 682.5 
$ 610.1 
OTHER COMPREHENSIVE INCOME (LOSS), NET:
 
 
 
 
Net change in fair value of derivatives
(9.6)
(0.1)
(13.6)
6.2 
Reclassification of net (gains) losses on derivative instruments from other comprehensive income into net income
0.4 
(0.8)
(0.6)
(0.9)
Other
0.6 
0.4 
0.5 
(1.5)
NET OTHER COMPREHENSIVE (LOSS) INCOME
(8.6)
(0.5)
(13.7)
3.8 
COMPREHENSIVE INCOME
354.0 
342.2 
668.8 
613.9 
COMPREHENSIVE INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS
(1.7)
(1.4)
(4.5)
(3.4)
COMPREHENSIVE INCOME ATTRIBUTABLE TO ENSCO
352.3 
340.8 
664.3 
610.5 
Ensco Plc [Member]
 
 
 
 
NET INCOME
360.9 
341.3 
678.0 
606.7 
OTHER COMPREHENSIVE INCOME (LOSS), NET:
 
 
 
 
COMPREHENSIVE INCOME
360.9 
341.3 
678.0 
606.7 
COMPREHENSIVE INCOME ATTRIBUTABLE TO ENSCO
360.9 
341.3 
678.0 
606.7 
ENSCO International Inc. [Member]
 
 
 
 
NET INCOME
40.8 
53.1 
114.6 
85.0 
OTHER COMPREHENSIVE INCOME (LOSS), NET:
 
 
 
 
Net change in fair value of derivatives
(9.6)
0.9 
(13.6)
2.8 
Reclassification of net (gains) losses on derivative instruments from other comprehensive income into net income
(0.7)
(0.6)
0.1 
NET OTHER COMPREHENSIVE (LOSS) INCOME
(10.3)
0.9 
(14.2)
2.9 
COMPREHENSIVE INCOME
30.5 
54.0 
100.4 
87.9 
COMPREHENSIVE INCOME ATTRIBUTABLE TO ENSCO
30.5 
54.0 
100.4 
87.9 
Pride International, Inc. [Member]
 
 
 
 
NET INCOME
61.2 
75.2 
99.0 
143.2 
OTHER COMPREHENSIVE INCOME (LOSS), NET:
 
 
 
 
COMPREHENSIVE INCOME
61.2 
75.2 
99.0 
143.2 
COMPREHENSIVE INCOME ATTRIBUTABLE TO ENSCO
61.2 
75.2 
99.0 
143.2 
Other Non-Guarantor Subsidiaries Of Ensco [Member]
 
 
 
 
NET INCOME
455.5 
423.3 
866.4 
725.9 
OTHER COMPREHENSIVE INCOME (LOSS), NET:
 
 
 
 
Net change in fair value of derivatives
(1.0)
3.4 
Reclassification of net (gains) losses on derivative instruments from other comprehensive income into net income
1.1 
(0.8)
(1.0)
Other
0.6 
0.4 
0.5 
(1.5)
NET OTHER COMPREHENSIVE (LOSS) INCOME
1.7 
(1.4)
0.5 
0.9 
COMPREHENSIVE INCOME
457.2 
421.9 
866.9 
726.8 
COMPREHENSIVE INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS
(1.7)
(1.4)
(4.5)
(3.4)
COMPREHENSIVE INCOME ATTRIBUTABLE TO ENSCO
455.5 
420.5 
862.4 
723.4 
Consolidating Adjustments [Member]
 
 
 
 
NET INCOME
(555.8)
(550.2)
(1,075.5)
(950.7)
OTHER COMPREHENSIVE INCOME (LOSS), NET:
 
 
 
 
COMPREHENSIVE INCOME
(555.8)
(550.2)
(1,075.5)
(950.7)
COMPREHENSIVE INCOME ATTRIBUTABLE TO ENSCO
$ (555.8)
$ (550.2)
$ (1,075.5)
$ (950.7)
Guarantee Of Registered Securities (Condensed Consolidating Balance Sheets) (Details) (USD $)
In Millions, unless otherwise specified
Jun. 30, 2013
Dec. 31, 2012
Jun. 30, 2012
Dec. 31, 2011
Guarantor Obligations [Line Items]
 
 
 
 
Cash and cash equivalents
$ 489.8 
$ 487.1 
$ 226.7 
$ 430.7 
Accounts receivable, net
902.1 
811.4 
 
 
Other
391.6 
425.4 
 
 
Total current assets
1,783.5 
1,723.9 
 
 
PROPERTY AND EQUIPMENT, AT COST
16,276.4 
15,737.1 
 
 
Less accumulated depreciation
2,885.9 
2,591.5 
 
 
Property and equipment, net
13,390.5 
13,145.6 
12,984.0 
 
GOODWILL
3,274.0 
3,274.0 
 
 
OTHER ASSETS, NET
358.6 
421.8 
 
 
TOTAL ASSETS
18,806.6 
18,565.3 
 
 
Accounts payable and accrued liabilities
813.8 
942.2 
 
 
Current maturities of long-term debt
47.5 
47.5 
 
 
Total current liabilities
861.3 
989.7 
 
 
LONG-TERM DEBT
4,758.7 
4,798.4 
 
 
DEFERRED INCOME TAXES
338.5 
351.7 
 
 
OTHER LIABILITIES
530.3 
573.4 
 
 
ENSCO SHAREHOLDERS' EQUITY
12,310.1 
11,846.4 
 
 
NONCONTROLLING INTERESTS
7.7 
5.7 
 
 
Total equity
12,317.8 
11,852.1 
 
 
Total liabilities and shareholders' equity
18,806.6 
18,565.3 
 
 
Ensco Plc [Member]
 
 
 
 
Guarantor Obligations [Line Items]
 
 
 
 
Cash and cash equivalents
291.4 
271.8 
21.7 
236.6 
Accounts receivable from affiliates
1,324.1 
1,294.5 
 
 
Other
2.9 
2.8 
 
 
Total current assets
1,618.4 
1,569.1 
 
 
PROPERTY AND EQUIPMENT, AT COST
2.1 
2.1 
 
 
Less accumulated depreciation
1.3 
1.1 
 
 
Property and equipment, net
0.8 
1.0 
 
 
DUE FROM AFFILIATES
2,315.0 
3,483.5 
 
 
INVESTMENTS IN AFFILIATES
14,235.4 
13,469.3 
 
 
OTHER ASSETS, NET
10.1 
11.3 
 
 
TOTAL ASSETS
18,179.7 
18,534.2 
 
 
Accounts payable and accrued liabilities
31.4 
31.0 
 
 
Accounts payable to affiliates
2,412.9 
2,364.8 
 
 
Total current liabilities
2,444.3 
2,395.8 
 
 
DUE TO AFFILIATES
946.0 
1,816.7 
 
 
LONG-TERM DEBT
2,471.6 
2,469.6 
 
 
OTHER LIABILITIES
 
 
ENSCO SHAREHOLDERS' EQUITY
12,317.8 
11,852.1 
 
 
Total equity
12,317.8 
11,852.1 
 
 
Total liabilities and shareholders' equity
18,179.7 
18,534.2 
 
 
ENSCO International Inc. [Member]
 
 
 
 
Guarantor Obligations [Line Items]
 
 
 
 
Cash and cash equivalents
0.7 
1.7 
17.7 
Accounts receivable, net
0.3 
0.2 
 
 
Accounts receivable from affiliates
232.3 
226.5 
 
 
Other
36.0 
24.9 
 
 
Total current assets
269.3 
253.3 
 
 
PROPERTY AND EQUIPMENT, AT COST
29.9 
30.2 
 
 
Less accumulated depreciation
24.3 
23.5 
 
 
Property and equipment, net
5.6 
6.7 
 
 
DUE FROM AFFILIATES
3,832.7 
3,594.7 
 
 
INVESTMENTS IN AFFILIATES
2,875.3 
2,693.8 
 
 
OTHER ASSETS, NET
66.1 
67.4 
 
 
TOTAL ASSETS
7,049.0 
6,615.9 
 
 
Accounts payable and accrued liabilities
39.9 
28.1 
 
 
Accounts payable to affiliates
112.9 
136.9 
 
 
Total current liabilities
152.8 
165.0 
 
 
DUE TO AFFILIATES
2,405.0 
2,054.7 
 
 
LONG-TERM DEBT
149.1 
149.0 
 
 
DEFERRED INCOME TAXES
316.0 
335.1 
 
 
OTHER LIABILITIES
4.2 
 
 
ENSCO SHAREHOLDERS' EQUITY
4,021.9 
3,912.1 
 
 
Total equity
4,021.9 
3,912.1 
 
 
Total liabilities and shareholders' equity
7,049.0 
6,615.9 
 
 
Pride International, Inc. [Member]
 
 
 
 
Guarantor Obligations [Line Items]
 
 
 
 
Cash and cash equivalents
46.0 
85.0 
10.4 
22.6 
Accounts receivable, net
 
 
Accounts receivable from affiliates
2.8 
 
 
Total current assets
48.8 
85.0 
 
 
DUE FROM AFFILIATES
1,766.0 
1,628.4 
 
 
INVESTMENTS IN AFFILIATES
3,913.5 
3,824.8 
 
 
TOTAL ASSETS
5,728.3 
5,538.2 
 
 
Accounts payable and accrued liabilities
34.2 
34.1 
 
 
Accounts payable to affiliates
 
 
Total current liabilities
34.2 
34.1 
 
 
DUE TO AFFILIATES
1,026.9 
877.5 
 
 
LONG-TERM DEBT
2,024.5 
2,040.8 
 
 
OTHER LIABILITIES
9.8 
10.8 
 
 
ENSCO SHAREHOLDERS' EQUITY
2,632.9 
2,575.0 
 
 
Total equity
2,632.9 
2,575.0 
 
 
Total liabilities and shareholders' equity
5,728.3 
5,538.2 
 
 
Other Non-Guarantor Subsidiaries Of Ensco [Member]
 
 
 
 
Guarantor Obligations [Line Items]
 
 
 
 
Cash and cash equivalents
151.7 
128.6 
176.9 
171.5 
Accounts receivable, net
901.8 
811.2 
 
 
Accounts receivable from affiliates
2,450.2 
2,375.1 
 
 
Other
352.7 
397.7 
 
 
Total current assets
3,856.4 
3,712.6 
 
 
PROPERTY AND EQUIPMENT, AT COST
16,244.4 
15,704.8 
 
 
Less accumulated depreciation
2,860.3 
2,566.9 
 
 
Property and equipment, net
13,384.1 
13,137.9 
 
 
GOODWILL
3,274.0 
3,274.0 
 
 
DUE FROM AFFILIATES
4,377.9 
4,748.9 
 
 
OTHER ASSETS, NET
282.4 
343.1 
 
 
TOTAL ASSETS
25,174.8 
25,216.5 
 
 
Accounts payable and accrued liabilities
708.3 
849.0 
 
 
Accounts payable to affiliates
1,483.6 
1,394.4 
 
 
Current maturities of long-term debt
47.5 
47.5 
 
 
Total current liabilities
2,239.4 
2,290.9 
 
 
DUE TO AFFILIATES
7,913.7 
8,706.6 
 
 
LONG-TERM DEBT
113.5 
139.0 
 
 
DEFERRED INCOME TAXES
22.5 
16.6 
 
 
OTHER LIABILITIES
516.3 
562.6 
 
 
ENSCO SHAREHOLDERS' EQUITY
14,361.7 
13,495.1 
 
 
NONCONTROLLING INTERESTS
7.7 
5.7 
 
 
Total equity
14,369.4 
13,500.8 
 
 
Total liabilities and shareholders' equity
25,174.8 
25,216.5 
 
 
Consolidating Adjustments [Member]
 
 
 
 
Guarantor Obligations [Line Items]
 
 
 
 
Accounts receivable from affiliates
(4,009.4)
(3,896.1)
 
 
Total current assets
(4,009.4)
(3,896.1)
 
 
DUE FROM AFFILIATES
(12,291.6)
(13,455.5)
 
 
INVESTMENTS IN AFFILIATES
(21,024.2)
(19,987.9)
 
 
TOTAL ASSETS
(37,325.2)
(37,339.5)
 
 
Accounts payable to affiliates
(4,009.4)
(3,896.1)
 
 
Total current liabilities
(4,009.4)
(3,896.1)
 
 
DUE TO AFFILIATES
(12,291.6)
(13,455.5)
 
 
ENSCO SHAREHOLDERS' EQUITY
(21,024.2)
(19,987.9)
 
 
Total equity
(21,024.2)
(19,987.9)
 
 
Total liabilities and shareholders' equity
$ (37,325.2)
$ (37,339.5)
 
 
Guarantee Of Registered Securities (Condensed Consolidating Statements Of Cash Flows) (Details) (USD $)
In Millions, unless otherwise specified
6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
OPERATING ACTIVITIES
 
 
Net cash (used in) provided by operating activities of continuing operations
$ 784.2 
$ 1,016.0 
INVESTING ACTIVITIES
 
 
Additions to property and equipment
(598.6)
(1,047.1)
Maturities of short-term investments
50.0 
4.5 
Other
1.4 
2.6 
Net cash provided by (used in) investing activities of continuing operations
(547.2)
(1,040.0)
FINANCING ACTIVITIES
 
 
Cash dividends paid
(233.3)
(173.8)
Commercial paper borrowings, net
(102.9)
Reimbursement of equity issuance cost
66.7 
Reduction of long-term borrowings
(23.7)
(23.7)
Proceeds from exercise of share options
22.0 
14.4 
Advances from (to) affiliates
 
Other
(14.2)
(11.0)
Net cash provided by (used in) financing activities
(249.2)
(230.3)
DISCONTINUED OPERATIONS
 
 
Operating activities
0.2 
(5.4)
Investing activities
15.5 
54.5 
Net cash provided by discontinued operations
15.7 
49.1 
Effect of exchange rate changes on cash and cash equivalents
(0.8)
1.2 
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS
2.7 
(204.0)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD
487.1 
430.7 
CASH AND CASH EQUIVALENTS, END OF PERIOD
489.8 
226.7 
Ensco Plc [Member]
 
 
OPERATING ACTIVITIES
 
 
Net cash (used in) provided by operating activities of continuing operations
(58.5)
(17.7)
FINANCING ACTIVITIES
 
 
Cash dividends paid
(233.3)
(173.8)
Commercial paper borrowings, net
 
(102.9)
Reimbursement of equity issuance cost
 
66.7 
Proceeds from exercise of share options
22.0 
2.5 
Advances from (to) affiliates
301.5 
18.7 
Other
(12.1)
(8.4)
Net cash provided by (used in) financing activities
78.1 
(197.2)
DISCONTINUED OPERATIONS
 
 
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS
19.6 
(214.9)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD
271.8 
236.6 
CASH AND CASH EQUIVALENTS, END OF PERIOD
291.4 
21.7 
ENSCO International Inc. [Member]
 
 
OPERATING ACTIVITIES
 
 
Net cash (used in) provided by operating activities of continuing operations
(106.3)
(38.0)
INVESTING ACTIVITIES
 
 
Additions to property and equipment
Other
0.3 
1.4 
Net cash provided by (used in) investing activities of continuing operations
0.3 
1.4 
FINANCING ACTIVITIES
 
 
Proceeds from exercise of share options
 
11.9 
Advances from (to) affiliates
105.0 
42.4 
Other
 
Net cash provided by (used in) financing activities
105.0 
54.3 
DISCONTINUED OPERATIONS
 
 
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS
(1.0)
17.7 
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD
1.7 
CASH AND CASH EQUIVALENTS, END OF PERIOD
0.7 
17.7 
Pride International, Inc. [Member]
 
 
OPERATING ACTIVITIES
 
 
Net cash (used in) provided by operating activities of continuing operations
(47.9)
10.9 
FINANCING ACTIVITIES
 
 
Advances from (to) affiliates
8.9 
(23.1)
Net cash provided by (used in) financing activities
8.9 
(23.1)
DISCONTINUED OPERATIONS
 
 
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS
(39.0)
(12.2)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD
85.0 
22.6 
CASH AND CASH EQUIVALENTS, END OF PERIOD
46.0 
10.4 
Other Non-Guarantor Subsidiaries Of Ensco [Member]
 
 
OPERATING ACTIVITIES
 
 
Net cash (used in) provided by operating activities of continuing operations
996.9 
1,060.8 
INVESTING ACTIVITIES
 
 
Additions to property and equipment
(598.6)
(1,047.1)
Maturities of short-term investments
50.0 
4.5 
Other
1.1 
1.2 
Net cash provided by (used in) investing activities of continuing operations
(547.5)
(1,041.4)
FINANCING ACTIVITIES
 
 
Reduction of long-term borrowings
(23.7)
(23.7)
Advances from (to) affiliates
(415.4)
(38.0)
Other
(2.1)
(2.6)
Net cash provided by (used in) financing activities
(441.2)
(64.3)
DISCONTINUED OPERATIONS
 
 
Operating activities
0.2 
(5.4)
Investing activities
15.5 
54.5 
Net cash provided by discontinued operations
15.7 
49.1 
Effect of exchange rate changes on cash and cash equivalents
(0.8)
1.2 
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS
23.1 
5.4 
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD
128.6 
171.5 
CASH AND CASH EQUIVALENTS, END OF PERIOD
$ 151.7 
$ 176.9