Document And Entity Information

3 Months Ended

Mar. 31, 2012

Apr. 27, 2012

Document And Entity Information [Abstract]

Document Type

10-Q

Amendment Flag

false

Document Period End Date

Mar. 31, 2012

Document Fiscal Year Focus

2012

Document Fiscal Period Focus

Q1

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

231,330,787

Condensed Consolidated Statements Of Income (USD $)

In Millions, except Per Share data, unless otherwise specified

3 Months Ended

Mar. 31, 2012

Mar. 31, 2011

Income Statement [Abstract]

OPERATING REVENUES

$ 1,026.4

$ 361.5

OPERATING EXPENSES

Contract drilling (exclusive of depreciation)

520.2

191.6

Depreciation

139.4

59.5

General and administrative

38.2

30.1

Total operating expenses

697.8

281.2

OPERATING INCOME

328.6

80.3

OTHER INCOME (EXPENSE)

Interest income

5.9

0.2

Interest expense, net

(34.6)

(4.1)

Other, net

2.5

6.1

Other income (expense), net

(26.2)

2.2

INCOME BEFORE INCOME TAXES

302.4

82.5

PROVISION FOR INCOME TAXES

Current income tax expense

30.4

26.3

Deferred income tax expense (benefit)

4.6

(9.3)

Total provision for income taxes

35.0

17.0

NET INCOME

267.4

65.5

NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS

(2.0)

(0.9)

NET INCOME ATTRIBUTABLE TO ENSCO

265.4

64.6

TOTAL EARNINGS PER SHARE - BASIC

$ 1.15

$ 0.45

TOTAL EARNINGS PER SHARE - DILUTED

$ 1.15

$ 0.45

NET INCOME ATTRIBUTABLE TO ENSCO SHARES

Basic

262.7

63.6

Diluted

$ 262.7

$ 63.6

WEIGHTED-AVERAGE SHARES OUTSTANDING

Basic

228.8

141.2

Diluted

229.2

141.4

CASH DIVIDENDS PER SHARE

$ 0.375

$ 0.350

Condensed Consolidated Statements of Comprehensive Income (USD $)

In Millions, unless otherwise specified

3 Months Ended

Mar. 31, 2012

Mar. 31, 2011

Comprehensive Income [Abstract]

NET INCOME

$ 267.4

$ 65.5

OTHER COMPREHENSIVE INCOME (LOSS), NET:

Net change in fair value of derivatives

6.3

2.9

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

(0.1)

(0.8)

Other

(1.9)

Net other comprehensive income (loss)

4.3

2.1

COMPREHENSIVE INCOME

271.7

67.6

COMPREHENSIVE INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS

(2.0)

(0.9)

COMPREHENSIVE INCOME ATTRIBUTABLE TO ENSCO

$ 269.7

$ 66.7

Condensed Consolidated Balance Sheets (USD $)

In Millions, unless otherwise specified

Mar. 31, 2012

Dec. 31, 2011

CURRENT ASSETS

Cash and cash equivalents

$ 208.9

$ 430.7

Accounts receivable, net

760.4

843.5

Other

327.7

380.3

Total current assets

1,297.0

1,654.5

PROPERTY AND EQUIPMENT, AT COST

15,083.5

14,483.4

Less accumulated depreciation

2,193.6

2,061.5

Property and equipment, net

12,889.9

12,421.9

GOODWILL

3,263.0

OTHER ASSETS, NET

498.1

538.5

TOTAL ASSETS

17,948.0

17,877.9

CURRENT LIABILITIES

Accounts payable - trade

553.5

644.4

Accrued liabilities and other

438.0

514.6

Short-term debt

200.0

125.0

Current maturities of long-term debt

47.5

Total current liabilities

1,239.0

1,331.5

LONG-TERM DEBT

4,862.6

4,877.6

DEFERRED INCOME TAXES

341.4

339.5

OTHER LIABILITIES

417.4

444.8

COMMITMENTS AND CONTINGENCIES

ENSCO SHAREHOLDERS' EQUITY

Additional paid-in capital

5,274.6

5,253.0

Retained earnings

5,791.7

5,613.1

Accumulated other comprehensive income

12.9

8.6

Treasury shares, at cost, 4.6 million shares and 4.9 million shares

(22.1)

(19.1)

Total Ensco shareholders' equity

11,080.8

10,879.3

NONCONTROLLING INTERESTS

6.8

5.2

Total equity

11,087.6

10,884.5

Total liabilities and shareholders' equity

17,948.0

17,877.9

Class A ordinary shares, U.S. [Member]

ENSCO SHAREHOLDERS' EQUITY

Common shares, value

23.6

Common Class B, Par Value In GBP [Member]

ENSCO SHAREHOLDERS' EQUITY

Common shares, value

$ 0.1

Condensed Consolidated Balance Sheets (Parenthetical)

Mar. 31, 2012

Dec. 31, 2011

Mar. 31, 2012

Class A ordinary shares, U.S. [Member]

USD ($)

Dec. 31, 2011

Class A ordinary shares, U.S. [Member]

USD ($)

Mar. 31, 2012

Common Class B, Par Value In GBP [Member]

GBP (£)

Dec. 31, 2011

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

£ 1

Common shares, shares authorized (in shares)

450,000,000

50,000

Common shares, shares issued (in shares)

235,800,000

50,000

Treasury shares, shares held (in shares)

4,600,000

4,900,000

Condensed Consolidated Statements Of Cash Flows (USD $)

In Millions, unless otherwise specified

3 Months Ended

Mar. 31, 2012

Mar. 31, 2011

OPERATING ACTIVITIES

Net income

$ 267.4

$ 65.5

Adjustments to reconcile net income to net cash provided by operating activities:

Depreciation expense

139.4

59.5

Amortization of intangibles and other, net

(13.1)

5.5

Share-based compensation expense

11.7

11.5

Deferred income tax expense (benefit)

4.6

(9.3)

Other

2.8

(2.9)

Changes in operating assets and liabilities:

Decrease (increase) in accounts receivable

80.5

(55.7)

Decrease (increase) in other assets

33.6

(9.2)

Decrease in trading securities

31.6

49.3

(Decrease) increase in liabilities

(11.2)

11.0

Net cash provided by operating activities

547.3

125.2

INVESTING ACTIVITIES

Additions to property and equipment

(764.1)

(131.0)

Proceeds from disposition of assets

0.6

0.5

Other

4.5

0

Net cash used in investing activities

(759.0)

(130.5)

FINANCING ACTIVITIES

Cash dividends paid

(86.8)

(50.2)

Commercial paper borrowings, net

75.0

0

Reduction of long-term borrowings

(7.1)

0

Proceeds from issuance of senior notes

0

2,462.8

Debt financing costs

0

(25.5)

Other

8.3

(0.5)

Net cash (used in) provided by financing activities

(10.6)

2,386.6

Effect of exchange rate changes on cash and cash equivalents

0.5

0.1

(DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS

(221.8)

2,381.4

CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD

430.7

1,050.7

CASH AND CASH EQUIVALENTS, END OF PERIOD

$ 208.9

$ 3,432.1

Unaudited Condensed Consolidated Financial Statements

We prepared the accompanying condensed consolidated financial statements of Ensco plc and subsidiaries (the "Company," "Ensco," "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, 2011 condensed consolidated balance sheet data were derived from our 2011 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 quarters ended March 31, 2012 and 2011 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 quarter ended March 31, 2012 are not necessarily indicative of the results of operations that will be realized for the year ending December 31, 2012. It is recommended that these condensed consolidated financial statements be read in conjunction with our audited consolidated financial statements and notes thereto for the year ended December 31, 2011 included in our annual report on Form 10-K filed with the SEC on February 24, 2012.

Acquisition Of Pride International, Inc.

Acquisition of Pride International, Inc.

Assets Acquired and Liabilities Assumed

The Merger has been accounted for using the acquisition method of accounting, which requires that assets acquired and liabilities assumed be recorded at their estimated fair values as of the Merger Date. The excess of the consideration transferred over the estimated fair values of the net assets acquired was recorded as goodwill. We have not finalized the determination of the fair values of the assets acquired and liabilities assumed and, therefore, the fair value estimates set forth below are subject to adjustment during a measurement period not to exceed one year subsequent to the acquisition date as permitted under GAAP. The estimated fair values of certain assets and liabilities, including inventory, taxes and contingencies, require judgments and assumptions that increase the likelihood that adjustments may be made to these estimates during the measurement period.

The provisional amounts and respective measurement period adjustments recorded for assets acquired and liabilities assumed were based on preliminary estimates of their fair values as of the Merger Date and were as follows:



	Amounts Recognized as of Merger Date		Measurement Period Adjustments⁽¹⁾			Estimated Fair Value
Assets:
Cash and cash equivalents	$	147.0	$	—		$	147.0
Accounts receivable⁽²⁾	371.3		29.9			401.2
Other current assets	150.9		9.0			159.9
Property and equipment	6,758.8		(9.4		)	6,749.4
Other assets	343.7		25.0			368.7
Liabilities:
Accounts payable and accrued liabilities and other	539.8		52.8			592.6
Debt	2,436.0		—			2,436.0
Deferred income tax liabilities	19.0		(18.3		)	.7
Other liabilities	319.8		(12.0		)	307.8
Net assets acquired	4,457.1		32.0			4,489.1
Less merger consideration	7,415.9		—			7,415.9
Goodwill	$	2,958.8	$	(32.0	)	$	2,926.8

(1)

The measurement period adjustments reflect changes in the estimated fair values of certain assets and liabilities, primarily related to contingencies and income taxes. The measurement period adjustments were recorded to reflect new information obtained about facts and circumstances existing as of the Merger Date and did not result from subsequent intervening events. These adjustments did not have a material impact on our previously reported financial position or results of operations subsequent to the Merger Date; however, we have retrospectively revised our 2011 consolidated financial statements to reflect these adjustments as if they were recorded on the Merger Date.


(2)	Gross contractual amounts receivable totaled $458.5 million as of the Merger Date.

Goodwill

Goodwill recognized as a result of the Merger was calculated as the excess of the consideration transferred over the net assets acquired and represents the estimated fair value of future economic benefits arising from other intangible assets acquired that could not be individually identified and separately recognized. Goodwill specifically includes the expected synergies and other benefits that we believe will result from combining the operations of Pride with the operations of Ensco and other intangible assets that do not qualify for separate recognition, such as assembled workforce in place at the Merger Date. Goodwill is not expected to be tax deductible.

Goodwill recognized as a result of the Merger preliminarily was allocated to our reportable segments as follows (in millions):



Deepwater	$	2,458.3
Midwater	468.5
Jackup	—
Total	$	2,926.8

Contingencies

In connection with the Merger, we recognized contingent liabilities resulting from certain lawsuits, claims or proceedings existing as of the Merger Date. These matters existed as of the Merger Date as Pride was involved from time to time as party to governmental or other 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.

Deferred Taxes

The acquisition of a business through the purchase of its common stock generally is treated as a "nontaxable" transaction. The acquisition of Pride was executed through the acquisition of its outstanding common stock and, therefore, the historical tax bases of the acquired assets and assumed liabilities, net operating losses and other tax attributes of Pride were assumed as of the Merger Date. However, adjustments were recorded to recognize deferred tax assets and liabilities for the tax effects of differences between acquisition date fair values and tax bases of assets acquired and liabilities assumed. As of the Merger Date, a decrease of $31.1 million to Pride’s net deferred tax liability was recognized.

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 March 31, 2012
Supplemental executive retirement plan assets	$	28.1	$	—	$	—	$	28.1
Derivatives, net	—		1.1		—		1.1
Total financial assets	$	28.1	$	1.1	$	—	$	29.2

As of December 31, 2011
Hercules Offshore, Inc. common stock	$	32.2	$	—	$	—	$	32.2
Supplemental executive retirement plan assets	25.6		—		—		25.6
Total financial assets	$	57.8	$	—	$	—	$	57.8
Derivatives, net	$	—	$	7.1	$	—	$	7.1
Total financial liabilities	$	—	$	7.1	$	—	$	7.1

Hercules Offshore, Inc. Common Stock

In December 2011, we received 10.3 million shares of Hercules Offshore, Inc. ("HERO") common stock in connection with the resolution of certain litigation in respect of the previously reported Seahawk Drilling, Inc. ("Seahawk") bankruptcy claims. We subsequently sold 3.0 million shares for $13.4 million of net proceeds in December 2011 and sold the remaining 7.3 million shares for $31.6 million of net proceeds in January 2012.

In connection with the bankruptcy, we received an additional 1.1 million shares of HERO common stock during the first quarter of 2012, which we sold for $5.0 million during the same period. The aforementioned events revealed new information about facts and circumstances in existence as of the Merger Date that, if known at the Merger Date, would have led to a different estimate of the acquired receivable from Seahawk. Therefore, the impact of the applicable portion of the aforementioned recovery from the Seahawk bankruptcy estate during the first quarter of 2012 was recorded as a retrospective decrease to goodwill and an increase in the acquired receivable from Seahawk as of the Merger Date. As of March 31, 2012, we did not hold any HERO common stock. We designated our investments in HERO common stock as trading securities as it was our intent to sell them in the near-term. Net proceeds from sales of HERO common stock and net realized losses recorded during the quarter ended March 31, 2012 were $36.6 million and $933,000, respectively.

Supplemental Executive Retirement Plan Assets

Our Ensco 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 as of March 31, 2012 and December 31, 2011. See "Note 4 - 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):



	March 31, 2012				December 31, 2011
	Carrying Value		Estimated Fair Value		Carrying Value		Estimated Fair Value
4.70% Senior notes due 2021	$	1,472.9	$	1,617.9	$	1,472.2	$	1,565.8
6.875% Senior notes due 2020	1,052.1		1,098.9		1,055.8		1,042.7
3.25% Senior notes due 2016	993.9		1,043.2		993.5		1,016.5
8.50% Senior notes due 2019	627.9		659.6		631.7		615.3
7.875% Senior notes due 2040	384.7		416.2		385.0		381.9
7.20% Debentures due 2027	149.0		176.3		149.0		167.2
4.33% MARAD bonds, including current maturities, due 2016	138.4		139.2		146.7		156.4
6.36% MARAD bonds, including current maturities, due 2015	50.7		63.1		50.7		64.0
4.65% MARAD bonds, including current maturities, due 2020	40.5		49.0		40.5		49.6
Total	$	4,910.1	$	5,263.4	$	4,925.1	$	5,059.4

The estimated fair values of our senior notes and debentures were determined using quoted market prices. The estimated fair values of our MARAD bonds were determined using an income approach valuation model. The estimated fair values of our cash and cash equivalents, receivables, trade payables and other liabilities approximated their carrying values as of March 31, 2012 and December 31, 2011 due, in most circumstances, to their short-term nature.

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 some 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. 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 assets of $1.1 million and net liabilities of $7.1 million associated with our foreign currency derivatives were included in our condensed consolidated balance sheets as of March 31, 2012 and December 31, 2011, respectively. All of our derivatives mature during the next 17 months. See "Note 3 - 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
	March 31, 2012		December 31, 2011		March 31, 2012		December 31, 2011

Derivatives Designated as Hedging Instruments
Foreign currency forward contracts - current⁽¹⁾	$	2.5	$	.2	$	1.7	$	7.1
Foreign currency forward contracts - non-current⁽²⁾	.2		.1		—		.1
	2.7		.3		1.7		7.2

Derivatives Not Designated as Hedging Instruments
Foreign currency forward contracts - current⁽¹⁾	.1		—		—		.2
	.1		—		—		.2
Total	$	2.8	$	.3	$	1.7	$	7.4


(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 denominated in various currencies. As of March 31, 2012, we had cash flow hedges outstanding to exchange an aggregate $265.1 million for various foreign currencies, including $124.7 million for British pounds, $83.8 million for Singapore dollars, $26.8 million for Australian dollars, $22.5 million for euros and $7.3 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 for the quarters ended March 31, 2012 and 2011 were as follows (in millions):



Derivatives Designated as Cash Flow Hedges	Gain (Loss) Recognized in Other Comprehensive Income (Effective Portion)				Gain (Loss) Reclassified from Accumulated Other Comprehensive Income ("AOCI") into Income (Effective Portion)					Gain (Loss) Recognized in Income on Derivatives (Ineffective Portion and Amount Excluded from Effectiveness Testing)⁽¹⁾
	2012		2011		2012		2011			2012			2011
Interest rate lock contracts⁽²⁾	$	—	$	—	$	.1	$	(.1	)	$	—		$	—
Foreign currency forward contracts⁽³⁾	6.3		2.9		—		.9			(.8		)	(.4		)
Total	$	6.3	$	2.9	$	.1	$	.8		$	(.8	)	$	(.4	)


(1)	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.


(2)	Losses on derivatives reclassified from AOCI into income (effective portion) were included in interest expense in our condensed consolidated statements of income.


(3)	Gains and losses on derivatives reclassified from AOCI into income (effective portion) were included in contract drilling expense in our condensed consolidated statements 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 March 31, 2012, we held derivatives not designated as hedging instruments to exchange an aggregate $72.2 million for various foreign currencies, including $15.5 million for Swiss francs, $13.3 million for euros, $12.7 million for Australian dollars, $10.9 million for British pounds and $19.8 million for other currencies.

Net gains of $900,000 and $200,000 associated with our derivatives not designated as hedging instruments were included in other, net, in our condensed consolidated statements of income for the quarters ended March 31, 2012 and 2011, respectively.

As of March 31, 2012, the estimated amount of net losses associated with derivative instruments, net of tax, that would be reclassified to earnings during the next twelve months totaled $400,000.

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 includes the dilutive effect of share options 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 quarters ended March 31, 2012 and 2011 (in millions):



	2012			2011

Net income attributable to Ensco	$	265.4		$	64.6
Net income allocated to non-vested shares	(2.7		)	(1.0		)
Net income attributable to Ensco shares	$	262.7		$	63.6

The following table is a reconciliation of the weighted-average shares used in our basic and diluted EPS computations for the quarters ended March 31, 2012 and 2011 (in millions):



	2012	2011

Weighted-average shares - basic	228.8	141.2
Potentially dilutive share options	.4	.2
Weighted-average shares - diluted	229.2	141.4

Antidilutive share options totaling 400,000 were excluded from the computation of diluted EPS for the quarters ended March 31, 2012 and 2011.

Income Taxes

Our consolidated effective income tax rate for the quarter ended March 31, 2012 of 11.6% includes the impact of various discrete tax items, the majority of which is attributable to the derecognition of a liability upon the lapse of the statute of limitations applicable to an uncertain tax position, partially offset by the resolution of a prior period tax matter. Excluding the impact of the aforementioned discrete items, our consolidated effective income tax rate for the quarter ended March 31, 2012 was 12.1% compared to a consolidated effective income tax rate, excluding discrete tax items, of 14.9% for the quarter ended March 31, 2011. The decrease primarily was attributable to the impact of the acquired operations of Pride and other changes in taxing jurisdictions in which our drilling rigs are operated and/or owned that resulted in an increase in the relative components of our earnings generated in tax jurisdictions with lower tax rates, partially offset by the impact of the expiration of the Look-thru Rule for Related Controlled Foreign Corporations under Internal Revenue Code Section 954(c)(6) on December 31, 2011. The Look-thru rule generally excludes from U.S. federal income tax certain dividends, interest, rents and royalties received or accrued by a controlled foreign corporation (“CFC”) from a related CFC that would otherwise be taxable pursuant to the Subpart F regime.

Contingencies

Derivative Cases and Shareholder Class Actions

In April 2010, two purported shareholders of Pride filed separate derivative actions against all of Pride's then-current directors and against Pride, as nominal defendant. The lawsuits were consolidated and alleged that the individual defendants breached their fiduciary duties in regards to certain matters involving Pride's previously disclosed investigation under the Foreign Corrupt Practices Act ("FCPA"). Among other remedies, the lawsuit sought damages in an unspecified amount and equitable relief against the individual defendants, along with an award of attorney fees and other costs and expenses to the plaintiff. After the conclusion of Pride's investigation, the plaintiffs filed a consolidated amended petition in January 2011, raising allegations substantially similar to those made in the prior lawsuits.

Following the announcement of the Merger, a number of putative shareholder class action complaints or petitions were filed against various combinations of Pride, Pride's directors, Ensco and certain of our subsidiaries. These lawsuits challenged the proposed Merger and generally alleged, among other matters, that the individual members of the Pride board of directors breached their fiduciary duties by approving the proposed Merger, failing to take steps to maximize value to Pride's shareholders and failing to disclose material information concerning the proposed Merger in the registration statement on Form S-4; that Pride, Ensco and certain of our subsidiaries aided and abetted such breaches of fiduciary duties; and that the Merger improperly favored Ensco and unduly restricted Pride's ability to negotiate with other bidders. These lawsuits generally sought, among other remedies, compensatory damages, declaratory and injunctive relief concerning the alleged fiduciary breaches, and injunctive relief prohibiting the defendants from consummating the Merger. In addition, the plaintiffs in the derivative class action lawsuits related to Pride's previously disclosed FCPA investigation amended their petition to add claims related to the Merger.

In 2011, we entered into a stipulation of settlement with the plaintiffs in certain cases, under which Pride or its successor agreed not to oppose any application by attorneys for the class for fees and expenses not exceeding $1.1 million. The plaintiffs in all but one of the remaining cases filed motions to dismiss with prejudice, and these motions were approved in March 2012. Our motion to dismiss in the remaining matter currently is pending. At this time, we are unable to predict the outcome of this matter or estimate the extent to which we may be exposed to any resulting liability. Although the outcome cannot be predicted, we do not expect this matter to have a material adverse effect on our financial position, operating results or cash flows.

ENSCO 74 Loss

In September 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 in March 2009. In 2010, wreck removal operations on the sunken rig hull of ENSCO 74 were completed.

In April 2012, we entered into an agreement with the customer pursuant to which, among other matters, the customer agreed to remove the legs and Ensco agreed to pay $19.0 million in nine installments upon the completion of certain milestones during the removal. The actual removal costs may be less than or greater than the aggregate amount paid to the customer, which will not result in any reduction in the $19.0 million amount paid or additional payments due to the customer from Ensco. We have insurance coverage for the actual removal costs incurred by the customer. A $19.0 million liability and a corresponding receivable for recovery of those costs under our insurance policy was recorded as of March 31, 2012 and included in accrued liabilities and other and other assets, net, on our condensed consolidated balance sheet.

In March 2009, we received notice from legal counsel representing certain underwriters in a subrogation claim alleging that ENSCO 74 caused a pipeline to rupture during Hurricane Ike. In September 2009, civil litigation was filed seeking damages for the cost of repairs and business interruption in an amount in excess of $26.0 million. Based on information currently available, primarily the adequacy of available defenses, we have not concluded that it is probable a liability exists with respect to this matter.

In March 2009, the owner of the oil tanker that struck the hull of ENSCO 74 commenced civil litigation against us seeking monetary damages of $10.0 million for losses incurred when the tanker struck the sunken hull of ENSCO 74. Based on information currently available, primarily the adequacy of available defenses, we have not concluded that it is probable a liability exists with respect to this matter.

We filed a petition for exoneration or limitation of liability under U.S. admiralty and maritime law in September 2009. The petition seeks exoneration from or limitation of liability for any and all injury, loss or damage caused, occasioned or occurred in relation to the ENSCO 74 loss in September 2008. The owner of the tanker that struck the hull of ENSCO 74 and the owners of two subsea pipelines have presented claims in the exoneration/limitation proceedings. The matter is scheduled for trial in November 2012.

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

During 2004, we and certain current and former subsidiaries were named as defendants, along with numerous other third-party companies as co-defendants, in several multi-party lawsuits filed in Mississippi. The lawsuits sought 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 period 1965 through 1986. We have been named as a defendant by 69 individual plaintiffs.

During 2011 and 2012, we and certain subsidiaries were named as defendants, along with numerous other third-party companies as co-defendants, in eight multi-party lawsuits filed in Louisiana. The lawsuits sought 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 until the 1980s.

We intend to continue 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 the 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 issued from 2008 to 2012 pursuant to which governmental authorities in Brazil are seeking fines in an aggregate amount of approximately $2 million for the release of drilling fluid from drilling rigs operating offshore Brazil. We are contesting these notices and intend to defend ourselves vigorously. Although we do not expect the outcome 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 $2 million liability related to these matters was recorded as of March 31, 2012 and included in accrued liabilities and other on our condensed consolidated balance sheet.

We currently are subject to a pending administrative proceeding initiated in July 2009 by a governmental authority of Spain pursuant to which such governmental authority is seeking payment in an aggregate amount of approximately $4 million for an alleged environmental spill originating from the ENSCO 5006 while it was operating offshore Spain. We expect to be indemnified for any payments resulting from this incident by our customer under the terms of the drilling contract. Our customer has posted guarantees with the Spanish government to cover potential penalties. In addition, a criminal investigation of the incident was initiated in July 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 defend ourselves vigorously 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 the outcome of the proceedings 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.

Segment Information

Our business consists of three reportable segments: (1) Deepwater, which includes our drillships and semisubmersible rigs capable of drilling in water depths of 4,500 feet or greater, (2) Midwater, which includes our semisubmersible rigs capable of drilling in water depths of 4,499 feet or less and (3) Jackup, which includes all of our jackup rigs. Each of our three reportable segments provides one service, contract drilling. We also manage the drilling operations for three deepwater rigs and own one barge rig, which are included in "Other."

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."

Three Months Ended March 31, 2012



	Deepwater		Midwater		Jackup		Other		Operating Segments Total		Reconciling Items			Consolidated Total

Revenues	$	548.6	$	91.1	$	365.1	$	21.6	$	1,026.4	$	—		$	1,026.4
Operating expenses
Contract drilling (exclusive of depreciation)	260.1		61.9		181.5		16.7		520.2		—			520.2
Depreciation	76.6		15.7		42.8		.5		135.6		3.8			139.4
General and administrative	—		—		—		—		—		38.2			38.2
Operating income (loss)	$	211.9	$	13.5	$	140.8	$	4.4	$	370.6	$	(42.0	)	$	328.6
Property and equipment, net	$	9,451.5	$	917.0	$	2,452.5	$	39.5	$	12,860.5	$	29.4		$	12,889.9

Three Months Ended March 31, 2011



	Deepwater		Midwater		Jackup		Other			Operating Segments Total		Reconciling Items			Consolidated Total

Revenues	$	98.2	$	—	$	263.3	$	—		$	361.5	$	—		$	361.5
Operating expenses
Contract drilling (exclusive of depreciation)	40.9		—		150.3		.4			191.6		—			191.6
Depreciation	16.3		—		42.4		.4			59.1		.4			59.5
General and administrative	—		—		—		—			—		30.1			30.1
Operating income (loss)	$	41.0	$	—	$	70.6	$	(.8	)	$	110.8	$	(30.5	)	$	80.3
Property and equipment, net	$	3,008.7	$	—	$	2,232.8	$	14.0		$	5,255.5	$	3.6		$	5,259.1

Information about Geographic Areas

As of March 31, 2012, the geographic distribution of our drilling rigs by operating segment was as follows:



	Deepwater	Midwater	Jackup	Other	Total⁽¹⁾

North & South America (excl. Brazil)	6	—	15	—	21
Brazil	6	5	—	—	11
Europe & Mediterranean	1	—	8	—	9
Middle East & Africa	4	1	12	—	17
Asia & Pacific Rim	2	—	11	1	14
Asia & Pacific Rim (under construction)⁽²⁾	2	—	3	—	5
Total	21	6	49	1	77

(1) We have three deepwater drilling management contracts not included in the table above.

(2) In April 2012, we entered into an agreement with Samsung Heavy Industries to construct our sixth ultra-deepwater drillship (ENSCO DS-8), which is not included in the table above. The rig is scheduled for delivery during the third quarter of 2014.

Supplemental Financial Information

Consolidated Balance Sheet Information

Accounts receivable, net, consisted of the following (in millions):



	March 31, 2012			December 31, 2011

Trade	$	743.6		$	803.5
Other	31.9			53.6
	775.5			857.1
Allowance for doubtful accounts	(15.1		)	(13.6		)
	$	760.4		$	843.5

Other current assets consisted of the following (in millions):



	March 31, 2012		December 31, 2011

Inventory	$	192.1	$	188.9
Prepaid taxes	55.6		59.5
Deferred mobilization costs	40.7		43.8
Prepaid expenses	14.5		22.3
Deferred tax assets	7.2		9.1
Marketable securities	—		32.2
Other	17.6		24.5
	$	327.7	$	380.3

Other assets, net, consisted of the following (in millions):



	March 31, 2012		December 31, 2011

Intangible assets	$	184.0	$	197.3
Unbilled reimbursable receivables	107.4		119.4
Prepaid taxes on intercompany transfers of property	65.8		68.8
Deferred tax assets	43.8		43.1
Supplemental executive retirement plan assets	28.1		25.6
Deferred mobilization costs	25.0		38.4
Wreckage and debris removal receivables	19.0		19.8
Other	25.0		26.1
	$	498.1	$	538.5

Accrued liabilities and other consisted of the following (in millions):



	March 31, 2012		December 31, 2011

Personnel costs	$	128.8	$	158.4
Deferred revenue	109.2		111.3
Taxes	80.0		74.7
Accrued interest	36.0		69.4
Wreckage and debris removal	19.0		16.0
Intangible liabilities	—		43.4
Other	65.0		41.4
	$	438.0	$	514.6

Other liabilities consisted of the following (in millions):



	March 31, 2012		December 31, 2011

Intangible liabilities	$	163.5	$	177.8
Deferred revenue	117.4		124.4
Unrecognized tax benefits (inclusive of interest and penalties)	68.8		75.4
Supplemental executive retirement plan liabilities	34.4		30.1
Other	33.3		37.1
	$	417.4	$	444.8

Concentration of Credit Risk

We are exposed to credit risk relating to our receivables from customers, our cash and cash equivalents and investments and our use of derivatives in connection with the management of foreign currency exchange rate risk. We mitigate our credit risk relating to receivables from customers, which consists 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 investments by focusing on diversification and quality of instruments. Cash balances are maintained in major, well-capitalized commercial banks. Cash equivalents consist of a portfolio of high-grade instruments. Custody of cash and cash equivalents is maintained at several major financial institutions, and we monitor the financial condition of those financial institutions. We mitigate our credit risk relating to the counterparties of our derivatives by transacting with multiple, high-quality counterparties, thereby limiting exposure to individual counterparties, and by monitoring the financial condition of our counterparties.

During the quarter ended March 31, 2012, Petrobras provided an aggregate $258.0 million, or 25%, of our consolidated revenues, which was attributable to our Deepwater and Midwater segments. During the same period, Total provided an aggregate $116.7 million, or 11%, of our consolidated revenues, which was attributable to our Deepwater segment.

Revenues provided by our drilling operations in Brazil and Angola totaled $271.4 million, or 26%, and $131.2 million, or 13%, respectively, of our consolidated revenues during the quarter ended March 31, 2012. Of these amounts, 67% and 94% were provided by our deepwater drilling operations, respectively. Revenues provided by our drilling operations in the U.S. Gulf of Mexico totaled $253.4 million, or 25%, of our consolidated revenues during the quarter ended March 31, 2012. Of this amount, 69% was provided by our deepwater drilling operations.

Guarantee Of Registered Securities

Guarantee of Registered Securities

In connection with the Merger, on May 31, 2011, 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 8.50% 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 as of March 31, 2012 of $1.7 billion. 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 7.20% debentures due 2027 issued by Ensco Delaware in November 1997, which had an aggregate outstanding principal balance of $150.0 million as of March 31, 2012.

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 condensed consolidating statements of income for the three months ended March 31, 2012 and 2011; the condensed consolidating statements of comprehensive income for the three months ended March 31, 2012 and 2011; the condensed consolidating balance sheets as of March 31, 2012 and December 31, 2011; and the condensed consolidating statements of cash flows for the three months ended March 31, 2012 and 2011, in accordance with Rule 3-10 of Regulation S-X.

ENSCO PLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF INCOME Three Months Ended March 31, 2012 (in millions)

	Ensco plc			ENSCO International Inc.			Pride International Inc.			Other Non-Guarantor Subsidiaries of Ensco			Consolidating Adjustments			Total
OPERATING REVENUES	$	21.9		$	10.6		$	—		$	1,042.8		$	(48.9	)	$	1,026.4
OPERATING EXPENSES
Contract drilling (exclusive of depreciation)	6.9			10.6			—			551.6			(48.9		)	520.2
Depreciation	.1			.8			—			138.5			—			139.4
General and administrative	14.6			—			—			23.6			—			38.2
OPERATING INCOME (LOSS)	.3			(.8		)	—			329.1			—			328.6
OTHER INCOME (EXPENSE), NET	(11.2		)	(.3		)	(11.7		)	(3.0		)	—			(26.2		)
INCOME BEFORE INCOME TAXES	(10.9		)	(1.1		)	(11.7		)	326.1			—			302.4
INCOME TAX PROVISION	—			11.2						23.8						35.0
EQUITY EARNINGS IN AFFILIATES, NET OF TAX	276.3			44.2			79.7			—			(400.2		)	—
NET INCOME	265.4			31.9			68.0			302.3			(400.2		)	267.4
NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS	—			—			—			(2.0		)	—			(2.0		)
NET INCOME ATTRIBUTABLE TO ENSCO	$	265.4		$	31.9		$	68.0		$	300.3		$	(400.2	)	$	265.4

ENSCO PLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF INCOME Three Months Ended March 31, 2011 (in millions)

	Ensco plc			ENSCO International Inc.			Other Non-Guarantor Subsidiaries of Ensco			Consolidating Adjustments			Total
OPERATING REVENUES	$	—		$	—		$	361.8		$	(.3	)	$	361.5
OPERATING EXPENSES
Contract drilling (exclusive of depreciation)	.7			—			191.2			(.3		)	191.6
Depreciation	.2			.3			59.0			—			59.5
General and administrative	13.3			—			16.8			—			30.1
OPERATING INCOME (LOSS)	(14.2		)	(.3		)	94.8			—			80.3
OTHER INCOME (EXPENSE), NET	3.6			(.2		)	(1.2		)	—			2.2
INCOME (LOSS) BEFORE INCOME TAXES	(10.6		)	(.5		)	93.6			—			82.5
INCOME TAX PROVISION	—			5.6			11.4			—			17.0
EQUITY EARNINGS IN AFFILIATES, NET OF TAX	75.2			66.1			—			(141.3		)	—
NET INCOME	64.6			60.0			82.2			(141.3		)	65.5
NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS	—			—			(.9		)	—			(.9		)
NET INCOME ATTRIBUTABLE TO ENSCO	$	64.6		$	60.0		$	81.3		$	(141.3	)	$	64.6

ENSCO PLC AND SUBSIDIARIES

CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME

Three Months Ended March 31, 2012

(in millions)



	Ensco plc		ENSCO International Inc.			Pride International Inc.		Other Non-Guarantor Subsidiaries of Ensco			Consolidating Adjustments			Total

NET INCOME	$	265.4	$	31.9		$	68.0	$	302.3		$	(400.2	)	$	267.4
OTHER COMPREHENSIVE INCOME (LOSS), NET
Net change in fair value of derivatives	—		(3.4		)	—		9.7			—			6.3
Reclassification of gains and losses on derivative instruments from other comprehensive (income) into net income	—		.1			—		(.2		)	—			(.1		)
Other	—		—			—		(1.9		)	—			(1.9		)
NET OTHER COMPREHENSIVE INCOME	—		(3.3		)	—		7.6			—			4.3

COMPREHENSIVE INCOME	265.4		28.6			68.0		309.9			(400.2		)	271.7
COMPREHENSIVE INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS	—		—			—		(2.0		)	—			(2.0		)
COMPREHENSIVE INCOME ATTRIBUTABLE TO ENSCO	$	265.4	$	28.6		$	68.0	$	307.9		$	(400.2	)	$	269.7

ENSCO PLC AND SUBSIDIARIES

CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME

Three Months Ended March 31, 2011

(in millions)



	Ensco plc		ENSCO International Inc.		Other Non-Guarantor Subsidiaries of Ensco			Consolidating Adjustments			Total

NET INCOME	$	64.6	$	60.0	$	82.2		$	(141.3	)	$	65.5
OTHER COMPREHENSIVE INCOME (LOSS), NET
Net change in fair value of derivatives	—		2.0		.9			—			2.9
Reclassification of gains and losses on derivative instruments from other comprehensive (income) loss into net income	—		.1		(.9		)	—			(.8		)
Other	—		—		—			—			—
NET OTHER COMPREHENSIVE INCOME	—		2.1		—			—			2.1

COMPREHENSIVE INCOME	64.6		62.1		82.2			(141.3		)	67.6
COMPREHENSIVE INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS	—		—		(.9		)	—			(.9		)
COMPREHENSIVE INCOME ATTRIBUTABLE TO ENSCO	$	64.6	$	62.1	$	81.3		$	(141.3	)	$	66.7

ENSCO PLC AND SUBSIDIARIES CONDENSED CONSOLIDATING BALANCE SHEETS March 31, 2012 (in millions)

	Ensco plc		ENSCO International Inc.		Pride International Inc.		Other Non-Guarantor Subsidiaries of Ensco		Consolidating Adjustments			Total
ASSETS
CURRENT ASSETS
Cash and cash equivalents	$	12.2	$	13.5	$	29.3	$	153.9	$	—		$	208.9
Accounts receivable, net	—		7.7		—		752.7		—			760.4
Accounts receivable from affiliates	1,289.5		71.5		535.5		2,003.8		(3,900.3		)	—
Other	3.0		24.6		1.4		298.7		—			327.7
Total current assets	1,304.7		117.3		566.2		3,209.1		(3,900.3		)	1,297.0
PROPERTY AND EQUIPMENT, AT COST	1.8		29.9		—		15,051.8		—			15,083.5
Less accumulated depreciation	.8		21.8		—		2,171.0		—			2,193.6
Property and equipment, net	1.0		8.1		—		12,880.8		—			12,889.9
GOODWILL	—		—		—		3,263.0		—			3,263.0
DUE FROM AFFILIATES	2,506.8		2,616.1		208.3		3,597.0		(8,928.2		)	—
INVESTMENTS IN AFFILIATES	12,318.1		3,010.2		4,892.1		—		(20,220.4		)	—
OTHER ASSETS, NET	13.2		76.7		108.9		299.3		—			498.1
	$	16,143.8	$	5,828.4	$	5,775.5	$	23,249.2	$	(33,048.9	)	$	17,948.0
LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES
Accounts payable and accrued liabilities	$	6.6	$	10.8	$	23.4	$	950.7	$	—		$	991.5
Accounts payable to affiliates	1,193.2		735.5		110.5		1,861.1		(3,900.3		)	—
Short-term debt	200.0		—		—		—		—			200.0
Current maturities of long-term debt	—		—		—		47.5		—			47.5
Total current liabilities	1,399.8		746.3		133.9		2,859.3		(3,900.3		)	1,239.0
DUE TO AFFILIATES	1,922.6		1,053.3		633.4		5,318.9		(8,928.2		)	—
LONG-TERM DEBT	2,466.7		149.0		2,064.6		182.3		—			4,862.6
DEFERRED INCOME TAXES	—		327.2		—		14.2		—			341.4
OTHER LIABILITIES	—		—		—		417.4		—			417.4
ENSCO SHAREHOLDERS' EQUITY	10,354.7		3,552.6		2,943.6		14,450.3		(20,220.4		)	11,080.8
NONCONTROLLING INTERESTS	—		—		—		6.8		—			6.8
Total equity	10,354.7		3,552.6		2,943.6		14,457.1		(20,220.4		)	11,087.6
	$	16,143.8	$	5,828.4	$	5,775.5	$	23,249.2	$	(33,048.9	)	$	17,948.0

ENSCO PLC AND SUBSIDIARIES CONDENSED CONSOLIDATING BALANCE SHEETS December 31, 2011 (in millions)

	Ensco plc		ENSCO International Inc.		Pride International Inc.		Other Non-Guarantor Subsidiaries of Ensco		Consolidating Adjustments			Total
ASSETS
CURRENT ASSETS
Cash and cash equivalents	$	236.6	$	—	$	22.6	$	171.5	$	—		$	430.7
Accounts receivable, net	—		.3		5.2		838.0		—			843.5
Accounts receivable from affiliates	1,268.4		89.8		278.2		1,194.5		(2,830.9		)	—
Other	2.8		35.2		47.0		295.3		—			380.3
Total current assets	1,507.8		125.3		353.0		2,499.3		(2,830.9		)	1,654.5
PROPERTY AND EQUIPMENT, AT COST	1.8		30.6		—		14,451.0		—			14,483.4
Less accumulated depreciation	.7		23.8		—		2,037.0		—			2,061.5
Property and equipment, net	1.1		6.8		—		12,414.0		—			12,421.9
GOODWILL	—		—		—		3,263.0		—			3,263.0
DUE FROM AFFILIATES	2,002.3		2,486.9		313.5		3,638.7		(8,441.4		)	—
INVESTMENTS IN AFFILIATES	12,041.9		2,966.0		4,802.6		—		(19,810.5		)	—
OTHER ASSETS, NET	13.9		83.4		34.6		406.6		—			538.5
	$	15,567.0	$	5,668.4	$	5,503.7	$	22,221.6	$	(31,082.8	)	$	17,877.9
LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES
Accounts payable and accrued liabilities	$	30.4	$	20.0	$	27.4	$	1,081.2	$	—		$	1,159.0
Accounts payable to affiliates	575.1		606.6		85.2		1,564.0		(2,830.9		)	—
Short-term debt	125.0		—		—		—		—			125.0
Current maturities of long-term debt	—		—		—		47.5		—			47.5
Total current liabilities	730.5		626.6		112.6		2,692.7		(2,830.9		)	1,331.5
DUE TO AFFILIATES	2,191.7		1,058.2		401.3		4,790.2		(8,441.4		)	—
LONG-TERM DEBT	2,465.7		149.0		2,072.5		190.4		—			4,877.6
DEFERRED INCOME TAXES	—		326.8		—		12.7		—			339.5
OTHER LIABILITIES	—		5.2		20.6		419.0		—			444.8
ENSCO SHAREHOLDERS' EQUITY	10,179.1		3,502.6		2,896.7		14,111.4		(19,810.5		)	10,879.3
NONCONTROLLING INTERESTS	—		—		—		5.2		—			5.2
Total equity	10,179.1		3,502.6		2,896.7		14,116.6		(19,810.5		)	10,884.5
	$	15,567.0	$	5,668.4	$	5,503.7	$	22,221.6	$	(31,082.8	)	$	17,877.9

ENSCO PLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS Three Months Ended March 31, 2012 (in millions)


	Ensco plc			ENSCO International Inc.			Pride International Inc.			Other Non-Guarantor Subsidiaries of Ensco			Consolidating Adjustments		Total
OPERATING ACTIVITIES
Net cash (used in) provided by operating activities	$	(20.3	)	$	(21.8	)	$	(67.4	)	$	656.8		$	—	$	547.3
INVESTING ACTIVITIES
Additions to property and equipment	—			.7			—			(764.8		)	—		(764.1		)
Proceeds from disposition of assets	—			—			—			.6			—		.6
Other	—			—			—			4.5			—		4.5
Net cash (used in) provided by investing activities	—			.7			—			(759.7		)	—		(759.0		)
FINANCING ACTIVITIES
Cash dividends paid	(86.8		)	—			—			—			—		(86.8		)
Commercial paper borrowings, net	75.0			—			—			—			—		75.0
Reduction of long-term borrowings	—			—			—			(7.1		)	—		(7.1		)
Advances (to) from affiliates	(192.3		)	22.8			74.1			95.4			—		—
Other	—			11.8			—			(3.5		)	—		8.3
Net cash provided by (used in) financing activities	(204.1		)	34.6			74.1			84.8			—		(10.6		)
Effect of exchange rate changes on cash and cash equivalents	—			—			—			.5			—		.5
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	(224.4		)	13.5			6.7			(17.6		)	—		(221.8		)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	236.6			—			22.6			171.5			—		430.7
CASH AND CASH EQUIVALENTS, END OF PERIOD	$	12.2		$	13.5		$	29.3		$	153.9		$	—	$	208.9

ENSCO PLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS Three Months Ended March 31, 2011 (in millions)


	Ensco plc			ENSCO International Inc.		Other Non-Guarantor Subsidiaries of Ensco			Consolidating Adjustments		Total
OPERATING ACTIVITIES
Net cash provided by operating activities of continuing operations	$	7.7		$	49.8	$	67.7		$	—	$	125.2
INVESTING ACTIVITIES
Additions to property and equipment	—			—		(131.0		)	—		(131.0		)
Proceeds from disposition of assets	—			—		.5			—		.5
Net cash used in investing activities	—			—		(130.5		)	—		(130.5		)
FINANCING ACTIVITIES
Proceeds from short-term borrowings	2,462.8			—		—			—		2,462.8
Cash dividends paid	(50.2		)	—		—			—		(50.2		)
Financing costs	(21.5		)	—		(4.0		)	—		(25.5		)
Advances (to) from affiliates	55.6			139.1		(194.7		)	—		—
Other	—			1.2		(1.7		)	—		(.5		)
Net cash (used in) provided by financing activities	2,446.7			140.3		(200.4		)	—		2,386.6
Effect of exchange rate changes on cash and cash equivalents	—			—		.1			—		.1
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	2,450.4			190.1		(259.1		)	—		2,381.4
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	3.4			19.1		1,028.2			—		1,050.7
CASH AND CASH EQUIVALENTS, END OF PERIOD	$	2,453.8		$	209.2	$	769.1		$	—	$	3,432.1

Subsequent Events

Five-Year Credit Facility

On May 2, 2012, we entered into an amendment to the Third Amended and Restated Credit Agreement, dated as of May 12, 2011 (the “Five-Year Credit Facility”), among Ensco, certain subsidiaries of Ensco, Citibank, N.A., as Administrative Agent, Deutsche Bank Securities, Inc. as Syndication Agent, and a syndicate of banks party thereto. As amended, certain covenants relating to the requirement to provide additional guarantors and borrowers were revised to exclude intercompany indebtedness, among other clarifying changes. Except as amended, all other terms of the Five-Year Credit Facility, including its term, remained unchanged.

364-Day Credit Facility

On May 2, 2012, we entered into an amendment to the 364-Day Credit Agreement, dated as of May 12, 2011 (the “364-Day Credit Facility”), among Ensco, certain subsidiaries of Ensco, Citibank, N.A., as Administrative Agent, Deutsche Bank Securities, Inc. as Syndication Agent, and a syndicate of banks party thereto. As amended, effective as of May 10, 2012, the term of the 364-Day Credit Facility is extended until May 9, 2013 and certain covenants relating to the requirement to provide additional guarantors and borrowers were revised to exclude intercompany indebtedness, among other clarifying changes. Except as amended, all other terms of the 364-Day Credit Facility remained unchanged.

Acquisition Of Pride International, Inc. (Tables)

Schedule Of Business Acquisition, Provisional Amounts Recorded For Assets Acquired And Liabilities Assumed

The provisional amounts and respective measurement period adjustments recorded for assets acquired and liabilities assumed were based on preliminary estimates of their fair values as of the Merger Date and were as follows:



	Amounts Recognized as of Merger Date		Measurement Period Adjustments⁽¹⁾			Estimated Fair Value
Assets:
Cash and cash equivalents	$	147.0	$	—		$	147.0
Accounts receivable⁽²⁾	371.3		29.9			401.2
Other current assets	150.9		9.0			159.9
Property and equipment	6,758.8		(9.4		)	6,749.4
Other assets	343.7		25.0			368.7
Liabilities:
Accounts payable and accrued liabilities and other	539.8		52.8			592.6
Debt	2,436.0		—			2,436.0
Deferred income tax liabilities	19.0		(18.3		)	.7
Other liabilities	319.8		(12.0		)	307.8
Net assets acquired	4,457.1		32.0			4,489.1
Less merger consideration	7,415.9		—			7,415.9
Goodwill	$	2,958.8	$	(32.0	)	$	2,926.8

(1)

The measurement period adjustments reflect changes in the estimated fair values of certain assets and liabilities, primarily related to contingencies and income taxes. The measurement period adjustments were recorded to reflect new information obtained about facts and circumstances existing as of the Merger Date and did not result from subsequent intervening events. These adjustments did not have a material impact on our previously reported financial position or results of operations subsequent to the Merger Date; however, we have retrospectively revised our 2011 consolidated financial statements to reflect these adjustments as if they were recorded on the Merger Date.


(2)	Gross contractual amounts receivable totaled $458.5 million as of the Merger Date.

Schedule Of Goodwill Recognized

Goodwill recognized as a result of the Merger preliminarily was allocated to our reportable segments as follows (in millions):



Deepwater	$	2,458.3
Midwater	468.5
Jackup	—
Total	$	2,926.8

Fair Value Measurements (Tables)

Schedule Of Financial Assets And Liabilities Measured At Fair Value On A Recurring Basis



	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total

As of March 31, 2012
Supplemental executive retirement plan assets	$	28.1	$	—	$	—	$	28.1
Derivatives, net	—		1.1		—		1.1
Total financial assets	$	28.1	$	1.1	$	—	$	29.2

As of December 31, 2011
Hercules Offshore, Inc. common stock	$	32.2	$	—	$	—	$	32.2
Supplemental executive retirement plan assets	25.6		—		—		25.6
Total financial assets	$	57.8	$	—	$	—	$	57.8
Derivatives, net	$	—	$	7.1	$	—	$	7.1
Total financial liabilities	$	—	$	7.1	$	—	$	7.1

Schedule Of Carrying Values And Estimated Fair Values Of Debt Instruments



	March 31, 2012				December 31, 2011
	Carrying Value		Estimated Fair Value		Carrying Value		Estimated Fair Value
4.70% Senior notes due 2021	$	1,472.9	$	1,617.9	$	1,472.2	$	1,565.8
6.875% Senior notes due 2020	1,052.1		1,098.9		1,055.8		1,042.7
3.25% Senior notes due 2016	993.9		1,043.2		993.5		1,016.5
8.50% Senior notes due 2019	627.9		659.6		631.7		615.3
7.875% Senior notes due 2040	384.7		416.2		385.0		381.9
7.20% Debentures due 2027	149.0		176.3		149.0		167.2
4.33% MARAD bonds, including current maturities, due 2016	138.4		139.2		146.7		156.4
6.36% MARAD bonds, including current maturities, due 2015	50.7		63.1		50.7		64.0
4.65% MARAD bonds, including current maturities, due 2020	40.5		49.0		40.5		49.6
Total	$	4,910.1	$	5,263.4	$	4,925.1	$	5,059.4

Derivative Instruments (Tables)

Schedule Of Derivatives At Fair Value

Derivatives recorded at fair value in our condensed consolidated balance sheets consisted of the following (in millions):



	Derivative Assets				Derivative Liabilities
	March 31, 2012		December 31, 2011		March 31, 2012		December 31, 2011

Derivatives Designated as Hedging Instruments
Foreign currency forward contracts - current⁽¹⁾	$	2.5	$	.2	$	1.7	$	7.1
Foreign currency forward contracts - non-current⁽²⁾	.2		.1		—		.1
	2.7		.3		1.7		7.2

Derivatives Not Designated as Hedging Instruments
Foreign currency forward contracts - current⁽¹⁾	.1		—		—		.2
	.1		—		—		.2
Total	$	2.8	$	.3	$	1.7	$	7.4


(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 On Derivatives Designated As Cash Flow Hedges

Gains and losses, net of tax, on derivatives designated as cash flow hedges included in our condensed consolidated statements of income for the quarters ended March 31, 2012 and 2011 were as follows (in millions):



Derivatives Designated as Cash Flow Hedges	Gain (Loss) Recognized in Other Comprehensive Income (Effective Portion)				Gain (Loss) Reclassified from Accumulated Other Comprehensive Income ("AOCI") into Income (Effective Portion)					Gain (Loss) Recognized in Income on Derivatives (Ineffective Portion and Amount Excluded from Effectiveness Testing)⁽¹⁾
	2012		2011		2012		2011			2012			2011
Interest rate lock contracts⁽²⁾	$	—	$	—	$	.1	$	(.1	)	$	—		$	—
Foreign currency forward contracts⁽³⁾	6.3		2.9		—		.9			(.8		)	(.4		)
Total	$	6.3	$	2.9	$	.1	$	.8		$	(.8	)	$	(.4	)


(1)	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.


(2)	Losses on derivatives reclassified from AOCI into income (effective portion) were included in interest expense in our condensed consolidated statements of income.


(3)	Gains and losses on derivatives reclassified from AOCI into income (effective portion) were included in contract drilling expense in our condensed consolidated statements of income.

Earnings Per Share (Tables)

Reconciliation Of Net Income Attributable To Ensco Shares

The following table is a reconciliation of net income attributable to Ensco shares used in our basic and diluted EPS computations for the quarters ended March 31, 2012 and 2011 (in millions):



	2012			2011

Net income attributable to Ensco	$	265.4		$	64.6
Net income allocated to non-vested shares	(2.7		)	(1.0		)
Net income attributable to Ensco shares	$	262.7		$	63.6

Reconciliation Of Weighted-Average Shares Used In Earnings Per Share Computations

The following table is a reconciliation of the weighted-average shares used in our basic and diluted EPS computations for the quarters ended March 31, 2012 and 2011 (in millions):



	2012	2011

Weighted-average shares - basic	228.8	141.2
Potentially dilutive share options	.4	.2
Weighted-average shares - diluted	229.2	141.4

Segment Information (Tables)

3 Months Ended

Mar. 31, 2012

Mar. 31, 2011

Segment Reporting Information, Revenue for Reportable Segment [Abstract]

Schedule Of Segment Reporting Information

Text Block

Schedule Of Geographic Distribution Of Rigs By Segment

Text Block

Schedule Of Segment Reporting Information



	Deepwater		Midwater		Jackup		Other		Operating Segments Total		Reconciling Items			Consolidated Total

Revenues	$	548.6	$	91.1	$	365.1	$	21.6	$	1,026.4	$	—		$	1,026.4
Operating expenses
Contract drilling (exclusive of depreciation)	260.1		61.9		181.5		16.7		520.2		—			520.2
Depreciation	76.6		15.7		42.8		.5		135.6		3.8			139.4
General and administrative	—		—		—		—		—		38.2			38.2
Operating income (loss)	$	211.9	$	13.5	$	140.8	$	4.4	$	370.6	$	(42.0	)	$	328.6
Property and equipment, net	$	9,451.5	$	917.0	$	2,452.5	$	39.5	$	12,860.5	$	29.4		$	12,889.9

Schedule Of Segment Reporting Information



	Deepwater		Midwater		Jackup		Other			Operating Segments Total		Reconciling Items			Consolidated Total

Revenues	$	98.2	$	—	$	263.3	$	—		$	361.5	$	—		$	361.5
Operating expenses
Contract drilling (exclusive of depreciation)	40.9		—		150.3		.4			191.6		—			191.6
Depreciation	16.3		—		42.4		.4			59.1		.4			59.5
General and administrative	—		—		—		—			—		30.1			30.1
Operating income (loss)	$	41.0	$	—	$	70.6	$	(.8	)	$	110.8	$	(30.5	)	$	80.3
Property and equipment, net	$	3,008.7	$	—	$	2,232.8	$	14.0		$	5,255.5	$	3.6		$	5,259.1

Schedule Of Geographic Distribution Of Rigs By Segment

As of March 31, 2012, the geographic distribution of our drilling rigs by operating segment was as follows:



	Deepwater	Midwater	Jackup	Other	Total⁽¹⁾

North & South America (excl. Brazil)	6	—	15	—	21
Brazil	6	5	—	—	11
Europe & Mediterranean	1	—	8	—	9
Middle East & Africa	4	1	12	—	17
Asia & Pacific Rim	2	—	11	1	14
Asia & Pacific Rim (under construction)⁽²⁾	2	—	3	—	5
Total	21	6	49	1	77

Supplemental Financial Information (Tables)

Accounts Receivable, Net

Accounts receivable, net, consisted of the following (in millions):



	March 31, 2012			December 31, 2011

Trade	$	743.6		$	803.5
Other	31.9			53.6
	775.5			857.1
Allowance for doubtful accounts	(15.1		)	(13.6		)
	$	760.4		$	843.5

Other Current Assets

Other current assets consisted of the following (in millions):



	March 31, 2012		December 31, 2011

Inventory	$	192.1	$	188.9
Prepaid taxes	55.6		59.5
Deferred mobilization costs	40.7		43.8
Prepaid expenses	14.5		22.3
Deferred tax assets	7.2		9.1
Marketable securities	—		32.2
Other	17.6		24.5
	$	327.7	$	380.3

Other Assets, Net

Other assets, net, consisted of the following (in millions):



	March 31, 2012		December 31, 2011

Intangible assets	$	184.0	$	197.3
Unbilled reimbursable receivables	107.4		119.4
Prepaid taxes on intercompany transfers of property	65.8		68.8
Deferred tax assets	43.8		43.1
Supplemental executive retirement plan assets	28.1		25.6
Deferred mobilization costs	25.0		38.4
Wreckage and debris removal receivables	19.0		19.8
Other	25.0		26.1
	$	498.1	$	538.5

Accrued Liabilities And Other

Accrued liabilities and other consisted of the following (in millions):



	March 31, 2012		December 31, 2011

Personnel costs	$	128.8	$	158.4
Deferred revenue	109.2		111.3
Taxes	80.0		74.7
Accrued interest	36.0		69.4
Wreckage and debris removal	19.0		16.0
Intangible liabilities	—		43.4
Other	65.0		41.4
	$	438.0	$	514.6

Other Liabilities

Other liabilities consisted of the following (in millions):



	March 31, 2012		December 31, 2011

Intangible liabilities	$	163.5	$	177.8
Deferred revenue	117.4		124.4
Unrecognized tax benefits (inclusive of interest and penalties)	68.8		75.4
Supplemental executive retirement plan liabilities	34.4		30.1
Other	33.3		37.1
	$	417.4	$	444.8

Guarantee Of Registered Securities (Tables)

Condensed Consolidating Statements Of Income

ENSCO PLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF INCOME Three Months Ended March 31, 2012 (in millions)

	Ensco plc			ENSCO International Inc.			Pride International Inc.			Other Non-Guarantor Subsidiaries of Ensco			Consolidating Adjustments			Total
OPERATING REVENUES	$	21.9		$	10.6		$	—		$	1,042.8		$	(48.9	)	$	1,026.4
OPERATING EXPENSES
Contract drilling (exclusive of depreciation)	6.9			10.6			—			551.6			(48.9		)	520.2
Depreciation	.1			.8			—			138.5			—			139.4
General and administrative	14.6			—			—			23.6			—			38.2
OPERATING INCOME (LOSS)	.3			(.8		)	—			329.1			—			328.6
OTHER INCOME (EXPENSE), NET	(11.2		)	(.3		)	(11.7		)	(3.0		)	—			(26.2		)
INCOME BEFORE INCOME TAXES	(10.9		)	(1.1		)	(11.7		)	326.1			—			302.4
INCOME TAX PROVISION	—			11.2						23.8						35.0
EQUITY EARNINGS IN AFFILIATES, NET OF TAX	276.3			44.2			79.7			—			(400.2		)	—
NET INCOME	265.4			31.9			68.0			302.3			(400.2		)	267.4
NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS	—			—			—			(2.0		)	—			(2.0		)
NET INCOME ATTRIBUTABLE TO ENSCO	$	265.4		$	31.9		$	68.0		$	300.3		$	(400.2	)	$	265.4

ENSCO PLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF INCOME Three Months Ended March 31, 2011 (in millions)

	Ensco plc			ENSCO International Inc.			Other Non-Guarantor Subsidiaries of Ensco			Consolidating Adjustments			Total
OPERATING REVENUES	$	—		$	—		$	361.8		$	(.3	)	$	361.5
OPERATING EXPENSES
Contract drilling (exclusive of depreciation)	.7			—			191.2			(.3		)	191.6
Depreciation	.2			.3			59.0			—			59.5
General and administrative	13.3			—			16.8			—			30.1
OPERATING INCOME (LOSS)	(14.2		)	(.3		)	94.8			—			80.3
OTHER INCOME (EXPENSE), NET	3.6			(.2		)	(1.2		)	—			2.2
INCOME (LOSS) BEFORE INCOME TAXES	(10.6		)	(.5		)	93.6			—			82.5
INCOME TAX PROVISION	—			5.6			11.4			—			17.0
EQUITY EARNINGS IN AFFILIATES, NET OF TAX	75.2			66.1			—			(141.3		)	—
NET INCOME	64.6			60.0			82.2			(141.3		)	65.5
NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS	—			—			(.9		)	—			(.9		)
NET INCOME ATTRIBUTABLE TO ENSCO	$	64.6		$	60.0		$	81.3		$	(141.3	)	$	64.6

Condensed Consolidating Statements Of Comprehensive Income [Table Text Block]



	Ensco plc		ENSCO International Inc.			Pride International Inc.		Other Non-Guarantor Subsidiaries of Ensco			Consolidating Adjustments			Total

NET INCOME	$	265.4	$	31.9		$	68.0	$	302.3		$	(400.2	)	$	267.4
OTHER COMPREHENSIVE INCOME (LOSS), NET
Net change in fair value of derivatives	—		(3.4		)	—		9.7			—			6.3
Reclassification of gains and losses on derivative instruments from other comprehensive (income) into net income	—		.1			—		(.2		)	—			(.1		)
Other	—		—			—		(1.9		)	—			(1.9		)
NET OTHER COMPREHENSIVE INCOME	—		(3.3		)	—		7.6			—			4.3

COMPREHENSIVE INCOME	265.4		28.6			68.0		309.9			(400.2		)	271.7
COMPREHENSIVE INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS	—		—			—		(2.0		)	—			(2.0		)
COMPREHENSIVE INCOME ATTRIBUTABLE TO ENSCO	$	265.4	$	28.6		$	68.0	$	307.9		$	(400.2	)	$	269.7

ENSCO PLC AND SUBSIDIARIES

CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME

Three Months Ended March 31, 2011

(in millions)



	Ensco plc		ENSCO International Inc.		Other Non-Guarantor Subsidiaries of Ensco			Consolidating Adjustments			Total

NET INCOME	$	64.6	$	60.0	$	82.2		$	(141.3	)	$	65.5
OTHER COMPREHENSIVE INCOME (LOSS), NET
Net change in fair value of derivatives	—		2.0		.9			—			2.9
Reclassification of gains and losses on derivative instruments from other comprehensive (income) loss into net income	—		.1		(.9		)	—			(.8		)
Other	—		—		—			—			—
NET OTHER COMPREHENSIVE INCOME	—		2.1		—			—			2.1

COMPREHENSIVE INCOME	64.6		62.1		82.2			(141.3		)	67.6
COMPREHENSIVE INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS	—		—		(.9		)	—			(.9		)
COMPREHENSIVE INCOME ATTRIBUTABLE TO ENSCO	$	64.6	$	62.1	$	81.3		$	(141.3	)	$	66.7

Condensed Consolidating Balance Sheets

ENSCO PLC AND SUBSIDIARIES CONDENSED CONSOLIDATING BALANCE SHEETS March 31, 2012 (in millions)

	Ensco plc		ENSCO International Inc.		Pride International Inc.		Other Non-Guarantor Subsidiaries of Ensco		Consolidating Adjustments			Total
ASSETS
CURRENT ASSETS
Cash and cash equivalents	$	12.2	$	13.5	$	29.3	$	153.9	$	—		$	208.9
Accounts receivable, net	—		7.7		—		752.7		—			760.4
Accounts receivable from affiliates	1,289.5		71.5		535.5		2,003.8		(3,900.3		)	—
Other	3.0		24.6		1.4		298.7		—			327.7
Total current assets	1,304.7		117.3		566.2		3,209.1		(3,900.3		)	1,297.0
PROPERTY AND EQUIPMENT, AT COST	1.8		29.9		—		15,051.8		—			15,083.5
Less accumulated depreciation	.8		21.8		—		2,171.0		—			2,193.6
Property and equipment, net	1.0		8.1		—		12,880.8		—			12,889.9
GOODWILL	—		—		—		3,263.0		—			3,263.0
DUE FROM AFFILIATES	2,506.8		2,616.1		208.3		3,597.0		(8,928.2		)	—
INVESTMENTS IN AFFILIATES	12,318.1		3,010.2		4,892.1		—		(20,220.4		)	—
OTHER ASSETS, NET	13.2		76.7		108.9		299.3		—			498.1
	$	16,143.8	$	5,828.4	$	5,775.5	$	23,249.2	$	(33,048.9	)	$	17,948.0
LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES
Accounts payable and accrued liabilities	$	6.6	$	10.8	$	23.4	$	950.7	$	—		$	991.5
Accounts payable to affiliates	1,193.2		735.5		110.5		1,861.1		(3,900.3		)	—
Short-term debt	200.0		—		—		—		—			200.0
Current maturities of long-term debt	—		—		—		47.5		—			47.5
Total current liabilities	1,399.8		746.3		133.9		2,859.3		(3,900.3		)	1,239.0
DUE TO AFFILIATES	1,922.6		1,053.3		633.4		5,318.9		(8,928.2		)	—
LONG-TERM DEBT	2,466.7		149.0		2,064.6		182.3		—			4,862.6
DEFERRED INCOME TAXES	—		327.2		—		14.2		—			341.4
OTHER LIABILITIES	—		—		—		417.4		—			417.4
ENSCO SHAREHOLDERS' EQUITY	10,354.7		3,552.6		2,943.6		14,450.3		(20,220.4		)	11,080.8
NONCONTROLLING INTERESTS	—		—		—		6.8		—			6.8
Total equity	10,354.7		3,552.6		2,943.6		14,457.1		(20,220.4		)	11,087.6
	$	16,143.8	$	5,828.4	$	5,775.5	$	23,249.2	$	(33,048.9	)	$	17,948.0

ENSCO PLC AND SUBSIDIARIES CONDENSED CONSOLIDATING BALANCE SHEETS December 31, 2011 (in millions)

	Ensco plc		ENSCO International Inc.		Pride International Inc.		Other Non-Guarantor Subsidiaries of Ensco		Consolidating Adjustments			Total
ASSETS
CURRENT ASSETS
Cash and cash equivalents	$	236.6	$	—	$	22.6	$	171.5	$	—		$	430.7
Accounts receivable, net	—		.3		5.2		838.0		—			843.5
Accounts receivable from affiliates	1,268.4		89.8		278.2		1,194.5		(2,830.9		)	—
Other	2.8		35.2		47.0		295.3		—			380.3
Total current assets	1,507.8		125.3		353.0		2,499.3		(2,830.9		)	1,654.5
PROPERTY AND EQUIPMENT, AT COST	1.8		30.6		—		14,451.0		—			14,483.4
Less accumulated depreciation	.7		23.8		—		2,037.0		—			2,061.5
Property and equipment, net	1.1		6.8		—		12,414.0		—			12,421.9
GOODWILL	—		—		—		3,263.0		—			3,263.0
DUE FROM AFFILIATES	2,002.3		2,486.9		313.5		3,638.7		(8,441.4		)	—
INVESTMENTS IN AFFILIATES	12,041.9		2,966.0		4,802.6		—		(19,810.5		)	—
OTHER ASSETS, NET	13.9		83.4		34.6		406.6		—			538.5
	$	15,567.0	$	5,668.4	$	5,503.7	$	22,221.6	$	(31,082.8	)	$	17,877.9
LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES
Accounts payable and accrued liabilities	$	30.4	$	20.0	$	27.4	$	1,081.2	$	—		$	1,159.0
Accounts payable to affiliates	575.1		606.6		85.2		1,564.0		(2,830.9		)	—
Short-term debt	125.0		—		—		—		—			125.0
Current maturities of long-term debt	—		—		—		47.5		—			47.5
Total current liabilities	730.5		626.6		112.6		2,692.7		(2,830.9		)	1,331.5
DUE TO AFFILIATES	2,191.7		1,058.2		401.3		4,790.2		(8,441.4		)	—
LONG-TERM DEBT	2,465.7		149.0		2,072.5		190.4		—			4,877.6
DEFERRED INCOME TAXES	—		326.8		—		12.7		—			339.5
OTHER LIABILITIES	—		5.2		20.6		419.0		—			444.8
ENSCO SHAREHOLDERS' EQUITY	10,179.1		3,502.6		2,896.7		14,111.4		(19,810.5		)	10,879.3
NONCONTROLLING INTERESTS	—		—		—		5.2		—			5.2
Total equity	10,179.1		3,502.6		2,896.7		14,116.6		(19,810.5		)	10,884.5
	$	15,567.0	$	5,668.4	$	5,503.7	$	22,221.6	$	(31,082.8	)	$	17,877.9

Condensed Consolidating Statements Of Cash Flows

ENSCO PLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS Three Months Ended March 31, 2012 (in millions)


	Ensco plc			ENSCO International Inc.			Pride International Inc.			Other Non-Guarantor Subsidiaries of Ensco			Consolidating Adjustments		Total
OPERATING ACTIVITIES
Net cash (used in) provided by operating activities	$	(20.3	)	$	(21.8	)	$	(67.4	)	$	656.8		$	—	$	547.3
INVESTING ACTIVITIES
Additions to property and equipment	—			.7			—			(764.8		)	—		(764.1		)
Proceeds from disposition of assets	—			—			—			.6			—		.6
Other	—			—			—			4.5			—		4.5
Net cash (used in) provided by investing activities	—			.7			—			(759.7		)	—		(759.0		)
FINANCING ACTIVITIES
Cash dividends paid	(86.8		)	—			—			—			—		(86.8		)
Commercial paper borrowings, net	75.0			—			—			—			—		75.0
Reduction of long-term borrowings	—			—			—			(7.1		)	—		(7.1		)
Advances (to) from affiliates	(192.3		)	22.8			74.1			95.4			—		—
Other	—			11.8			—			(3.5		)	—		8.3
Net cash provided by (used in) financing activities	(204.1		)	34.6			74.1			84.8			—		(10.6		)
Effect of exchange rate changes on cash and cash equivalents	—			—			—			.5			—		.5
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	(224.4		)	13.5			6.7			(17.6		)	—		(221.8		)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	236.6			—			22.6			171.5			—		430.7
CASH AND CASH EQUIVALENTS, END OF PERIOD	$	12.2		$	13.5		$	29.3		$	153.9		$	—	$	208.9

ENSCO PLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS Three Months Ended March 31, 2011 (in millions)


	Ensco plc			ENSCO International Inc.		Other Non-Guarantor Subsidiaries of Ensco			Consolidating Adjustments		Total
OPERATING ACTIVITIES
Net cash provided by operating activities of continuing operations	$	7.7		$	49.8	$	67.7		$	—	$	125.2
INVESTING ACTIVITIES
Additions to property and equipment	—			—		(131.0		)	—		(131.0		)
Proceeds from disposition of assets	—			—		.5			—		.5
Net cash used in investing activities	—			—		(130.5		)	—		(130.5		)
FINANCING ACTIVITIES
Proceeds from short-term borrowings	2,462.8			—		—			—		2,462.8
Cash dividends paid	(50.2		)	—		—			—		(50.2		)
Financing costs	(21.5		)	—		(4.0		)	—		(25.5		)
Advances (to) from affiliates	55.6			139.1		(194.7		)	—		—
Other	—			1.2		(1.7		)	—		(.5		)
Net cash (used in) provided by financing activities	2,446.7			140.3		(200.4		)	—		2,386.6
Effect of exchange rate changes on cash and cash equivalents	—			—		.1			—		.1
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	2,450.4			190.1		(259.1		)	—		2,381.4
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	3.4			19.1		1,028.2			—		1,050.7
CASH AND CASH EQUIVALENTS, END OF PERIOD	$	2,453.8		$	209.2	$	769.1		$	—	$	3,432.1

Acquisition Of Pride International, Inc. (Narrative) (Details) (USD $)

In Millions, unless otherwise specified

3 Months Ended

Mar. 31, 2012

Business Combinations [Abstract]

Recognized net deferred tax liability

$ 31.1

Acquisition Of Pride International, Inc. (Schedule Of Business Acquisition, Provisional Amounts Recorded For Assets Acquired And Liabilities Assumed) (Details) (USD $)

In Millions, unless otherwise specified

Mar. 31, 2012

Business Acquisition [Line Items]

Gross contractual amounts receivable

$ 458.5

Amounts Recognized As Of Merger Date [Member]

Business Acquisition [Line Items]

Cash and cash equivalents

147.0

Accounts receivable

371.3 ¹

Other current assets

150.9

Property and equipment

6,758.8

Other assets

343.7

Accounts payable and accrued liabilities and other

539.8

Debt

2,436.0

Deferred income tax liabilities

19.0

Other liabilities

319.8

Net assets acquired

4,457.1

Less merger consideration

7,415.9

Goodwill

2,958.8

Measurement Period Adjustments [Member]

Business Acquisition [Line Items]

Cash and cash equivalents

0 ²

Accounts receivable

29.9 ¹ ²

Other current assets

9.0 ²

Property and equipment

(9.4)²

Other assets

25.0 ²

Accounts payable and accrued liabilities and other

52.8 ²

Debt

0 ²

Deferred income tax liabilities

(18.3)²

Other liabilities

(12.0)²

Net assets acquired

32.0 ²

Less merger consideration

0 ²

Goodwill

(32.0)²

Estimated Fair Value [Member]

Business Acquisition [Line Items]

Cash and cash equivalents

147.0

Accounts receivable

401.2 ¹

Other current assets

159.9

Property and equipment

6,749.4

Other assets

368.7

Accounts payable and accrued liabilities and other

592.6

Debt

2,436.0

Deferred income tax liabilities

0.7

Other liabilities

307.8

Net assets acquired

4,489.1

Less merger consideration

7,415.9

Goodwill

$ 2,926.8

[1] Gross contractual amounts receivable totaled $458.5 million as of the Merger Date.

[2] The measurement period adjustments reflect changes in the estimated fair values of certain assets and liabilities, primarily related to contingencies and income taxes. The measurement period adjustments were recorded to reflect new information obtained about facts and circumstances existing as of the Merger Date and did not result from subsequent intervening events. These adjustments did not have a material impact on our previously reported financial position or results of operations subsequent to the Merger Date; however, we have retrospectively revised our 2011 consolidated financial statements to reflect these adjustments as if they were recorded on the Merger Date.

Acquisition Of Pride International, Inc. (Schedule Of Goodwill Recognized) (Details) (USD $)

In Millions, unless otherwise specified

Mar. 31, 2012

Dec. 31, 2011

Business Acquisition [Line Items]

Total

$ 3,263.0

Pride International, Inc. [Member]

Business Acquisition [Line Items]

Total

2,926.8

Deepwater [Member] |
Pride International, Inc. [Member]

Business Acquisition [Line Items]

Total

2,458.3

Midwater [Member] |
Pride International, Inc. [Member]

Business Acquisition [Line Items]

Total

468.5

Jackup [Member] |
Pride International, Inc. [Member]

Business Acquisition [Line Items]

Total

$ 0

Fair Value Measurements (Narrative) (Details) (Hercules Offshore Inc [Member], USD $)

1 Months Ended

3 Months Ended

Jan. 31, 2012

Dec. 31, 2011

Mar. 31, 2012

Hercules Offshore Inc [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Common stock received in litigation of bankruptcy claims (in shares)

10,300,000

1,100,000

Common stock, shares sold (in shares)

3,000,000

Proceeds from sales of HERO common stock

$ 13,400,000

$ 5,000,000

Remaining common shares sold (in shares)

7,300,000

Net proceeds received from issuance of remaining common shares

31,600,000

36,600,000

Net realized loss recorded from issuance of remaining common shares

$ 933,000

Fair Value Measurements (Schedule Of Financial Assets And Liabilities Measured At Fair Value On A Recurring Basis) (Details) (USD $)

In Millions, unless otherwise specified

Mar. 31, 2012

Dec. 31, 2011

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]

Supplemental executive retirement plan assets

$ 28.1

$ 25.6

Derivatives, net

1.1

Total financial assets

29.2

57.8

Hercules Offshore, Inc. common stock

32.2

Derivatives, net

7.1

Total Financial Liabilities

7.1

Quoted Prices In Active Markets For Identical Assets (Level 1) [Member]

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]

Supplemental executive retirement plan assets

28.1

25.6

Derivatives, net

0

Total financial assets

28.1

57.8

Hercules Offshore, Inc. common stock

32.2

Derivatives, net

0

Total Financial Liabilities

0

Significant Other Observable Inputs (Level 2) [Member]

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]

Supplemental executive retirement plan assets

0

Derivatives, net

1.1

Total financial assets

1.1

0

Hercules Offshore, Inc. common stock

0

Derivatives, net

7.1

Total Financial Liabilities

7.1

Significant Unobservable Inputs (Level 3) [Member]

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]

Supplemental executive retirement plan assets

0

Derivatives, net

0

Total financial assets

0

Hercules Offshore, Inc. common stock

0

Derivatives, net

0

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

Mar. 31, 2012

Dec. 31, 2011

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]

Carrying Value

$ 4,910.1

$ 4,925.1

Estimated Fair Value

5,263.4

5,059.4

4.70% Senior Notes [Member]

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]

Carrying Value

1,472.9

1,472.2

Estimated Fair Value

1,617.9

1,565.8

Debt instrument, interest rate, stated percentage

4.70%

6.875% Senior Notes due 2020 [Member]

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]

Carrying Value

1,052.1

1,055.8

Estimated Fair Value

1,098.9

1,042.7

Debt instrument, interest rate, stated percentage

6.875%

3.25% Senior Notes [Member]

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]

Carrying Value

993.9

993.5

Estimated Fair Value

1,043.2

1,016.5

Debt instrument, interest rate, stated percentage

3.25%

8.50% Senior Notes [Member]

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]

Carrying Value

627.9

631.7

Estimated Fair Value

659.6

615.3

Debt instrument, interest rate, stated percentage

8.50%

7.875% Senior Notes [Member]

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]

Carrying Value

384.7

385.0

Estimated Fair Value

416.2

381.9

Debt instrument, interest rate, stated percentage

7.875%

7.20% Debentures [Member]

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]

Carrying Value

149.0

Estimated Fair Value

176.3

167.2

Debt instrument, interest rate, stated percentage

7.20%

4.33% MARAD Bonds, Including Current Maturities [Member]

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]

Carrying Value

138.4

146.7

Estimated Fair Value

139.2

156.4

Debt instrument, interest rate, stated percentage

4.33%

6.36% MARAD Bonds, Including Current Maturities [Member]

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]

Carrying Value

50.7

Estimated Fair Value

63.1

64.0

Debt instrument, interest rate, stated percentage

6.36%

4.65% MARAD Bonds, Including Current Maturities [Member]

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]

Carrying Value

40.5

Estimated Fair Value

$ 49.0

$ 49.6

Debt instrument, interest rate, stated percentage

4.65%

Derivative Instruments (Narrative) (Details) (USD $)

3 Months Ended

Mar. 31, 2012

Dec. 31, 2010

Mar. 31, 2012

Not Designated [Member]

Mar. 31, 2011

Not Designated [Member]

Mar. 31, 2012

Foreign Exchange [Member]

Cash Flow Hedges [Member]

Mar. 31, 2012

Foreign Exchange [Member]

Not Designated [Member]

Derivative Instruments, Gain (Loss) [Line Items]

Net assets associated with foreign currency derivatives

$ 1,100,000

Net liabilities associated with foreign currency derivatives

7,100,000

Maturity period of derivatives (in months)

17 months

Aggregate cash flow hedges outstanding

265,100,000

72,200,000

British pounds

124,700,000

Singapore dollars

83,800,000

10,900,000

Australian dollars

26,800,000

Euros

22,500,000

13,300,000

Other currencies

7,300,000

19,800,000

Swiss francs

15,500,000

Indonesian rupiahs

12,700,000

Net gain (Loss) on derivatives not designated as hedging instruments

900,000

200,000

Estimated amount of net gains associated with derivative instruments, net of tax

$ 400,000

Derivative Instruments (Schedule Of Derivatives At Fair Value) (Details) (USD $)

In Millions, unless otherwise specified

Mar. 31, 2012

Dec. 31, 2011

Derivative [Line Items]

Total fair value of derivative assets

$ 2.8

$ 0.3

Total fair value of derivative liabilities

1.7

7.4

Designated As Hedging Instrument [Member]

Derivative [Line Items]

Total fair value of derivative assets

2.7

0.3

Total fair value of derivative liabilities

1.7

7.2

Designated As Hedging Instrument [Member] |
Foreign Currency Forward Contracts - Current [Member]

Derivative [Line Items]

Total fair value of derivative assets

2.5 ¹

0.2 ¹

Total fair value of derivative liabilities

1.7 ¹

7.1 ¹

Designated As Hedging Instrument [Member] |
Foreign Currency Forward Contracts - Non-Current [Member]

Derivative [Line Items]

Total fair value of derivative assets

0.2 ²

0.1 ²

Total fair value of derivative liabilities

0 ²

0.1 ²

Not Designated [Member]

Derivative [Line Items]

Total fair value of derivative assets

0.1

0

Total fair value of derivative liabilities

0

0.2

Not Designated [Member] |
Foreign Currency Forward Contracts - Current [Member]

Derivative [Line Items]

Total fair value of derivative assets

0.1 ¹

0 ¹

Total fair value of derivative liabilities

$ 0 ¹

$ 0.2 ¹

[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.

Derivative Instruments (Gains And Losses On Derivatives Designated As Cash Flow Hedges) (Details) (USD $)

In Millions, unless otherwise specified

3 Months Ended

Mar. 31, 2012

Mar. 31, 2011

Interest Rate Lock Contracts [Member]

Derivative [Line Items]

Gain (Loss) Recognized in Other Comprehensive Income ("OCI") (Effective Portion)

$ 0 ¹

Gain (Loss) Reclassified from Accumulated Other Comprehensive Income ("AOCI") into Income (Effective Portion)

0.1 ²

(0.1)²

Gain (Loss) Recognized in Income on Derivatives (Ineffective Portion and Amount Excluded from Effectiveness Testing)

0 ¹ ³

Foreign Currency Forward Contracts [Member]

Derivative [Line Items]

Gain (Loss) Recognized in Other Comprehensive Income ("OCI") (Effective Portion)

6.3 ¹

2.9 ¹

Gain (Loss) Reclassified from Accumulated Other Comprehensive Income ("AOCI") into Income (Effective Portion)

0 ¹

0.9 ¹

Gain (Loss) Recognized in Income on Derivatives (Ineffective Portion and Amount Excluded from Effectiveness Testing)

(0.8)¹ ³

(0.4)¹ ³

Cash Flow Hedges [Member]

Derivative [Line Items]

Gain (Loss) Recognized in Other Comprehensive Income ("OCI") (Effective Portion)

6.3

2.9

Gain (Loss) Reclassified from Accumulated Other Comprehensive Income ("AOCI") into Income (Effective Portion)

0.1

0.8

Gain (Loss) Recognized in Income on Derivatives (Ineffective Portion and Amount Excluded from Effectiveness Testing)

$ (0.8)³

$ (0.4)³

[1] Gains and losses on derivatives reclassified from AOCI into income (effective portion) were included in contract drilling expense in our condensed consolidated statements of income.

[2] Losses on derivatives reclassified from AOCI into income (effective portion) were included in interest expense in our condensed consolidated statements of income.

[3] 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.

Earnings Per Share (Reconciliation Of Net Income Attributable To Ensco Shares) (Details) (USD $)

In Millions, unless otherwise specified

3 Months Ended

Mar. 31, 2012

Mar. 31, 2011

Earnings Per Share [Abstract]

Net income attributable to Ensco

$ 265.4

$ 64.6

Net income allocated to non-vested share awards

(2.7)

(1.0)

Net income attributable to Ensco shares

$ 262.7

$ 63.6

Earnings Per Share (Reconciliation Of Weighted-Average Shares Used In Earnings Per Share Computations) (Details)

3 Months Ended

Mar. 31, 2012

Mar. 31, 2011

Earnings Per Share [Abstract]

Weighted-average shares - basic (in shares)

228,800,000

141,200,000

Potentially dilutive share options (in shares)

400,000

200,000

Weighted-average shares - diluted (in shares)

229,200,000

141,400,000

Antidilutive share options excluded from computation of diluted earnings per share (in shares)

400,000

Income Taxes (Narrative) (Details)

3 Months Ended

Mar. 31, 2012

Mar. 31, 2011

Components of Income Tax Expense (Benefit), Continuing Operations [Abstract]

Consolidated effective income tax rate, without tax expense attributable to prior periods

12.10%

14.90%

Consolidated effective income tax rate including tax expense attributable to prior periods

11.60%

Contingencies (Narrative) (Details) (USD $)

In Millions, unless otherwise specified

1 Months Ended

3 Months Ended

1 Months Ended

Apr. 30, 2012

payments

Mar. 31, 2009

mi

Mar. 31, 2012

Dec. 31, 2011

Sep. 30, 2009

Dec. 31, 2004

plaintiffs

Mar. 31, 2012

Brazil [Member]

Jul. 31, 2009

Spain [Member]

Oil and Gas Delivery Commitments and Contracts [Line Items]

Maximum fees and expenses unable to be opposed

$ 1.1

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

9

Liability and insurance receivable for ENSCO 74 leg removal costs

19.0

Civil litigation claim damages for cost of repair and business interruption due to pipeline rupture

26.0

Civil litigation damages

10.0

Liability insurance self-insured retention per occurrence

10.0

Annual liability coverage limit for wreckage and debris removal costs

500.0

Liability insurance self-insured retention

15.0

Liability insurance self insured retention for each occurrence thereafter

1.0

Number of plaintiffs

69

Aggregate amount of fine sought by governmental authorities

2

Environmental liabilities

2

Aggregate amount of pending administrative proceeding raised by governmental authority

$ 4

Segment Information (Narrative) (Details)

3 Months Ended

Mar. 31, 2012

rigs

Segment Reporting Information [Line Items]

Number of segments (in segments)

3

Deepwater [Member] |
Other [Member]

Segment Reporting Information [Line Items]

Number of contract drilling rigs (in rigs)

3

Barge Rig [Member] |
Other [Member]

Segment Reporting Information [Line Items]

Number of contract drilling rigs (in rigs)

1

Minimum [Member] |
Deepwater [Member]

Segment Reporting Information [Line Items]

Rigs drilling capacity (in feet)

4,500

Maximum [Member] |
Midwater [Member]

Segment Reporting Information [Line Items]

Rigs drilling capacity (in feet)

4,499

Segment Information (Schedule Of Segment Reporting Information) (Details) (USD $)

In Millions, unless otherwise specified

3 Months Ended

Mar. 31, 2012

Mar. 31, 2011

Dec. 31, 2011

Segment Reporting Information [Line Items]

Revenues

$ 1,026.4

$ 361.5

Operating Expenses [Abstract]

Contract drilling (exclusive of depreciation)

520.2

191.6

Depreciation

139.4

59.5

General and administrative

38.2

30.1

OPERATING INCOME

328.6

80.3

Property and equipment, net

12,889.9

5,259.1

12,421.9

Deepwater [Member]

Segment Reporting Information [Line Items]

Revenues

548.6

98.2

Operating Expenses [Abstract]

Contract drilling (exclusive of depreciation)

260.1

40.9

Depreciation

76.6

16.3

General and administrative

0

OPERATING INCOME

211.9

41.0

Property and equipment, net

9,451.5

3,008.7

Midwater [Member]

Segment Reporting Information [Line Items]

Revenues

91.1

0

Operating Expenses [Abstract]

Contract drilling (exclusive of depreciation)

61.9

0

Depreciation

15.7

0

General and administrative

0

OPERATING INCOME

13.5

0

Property and equipment, net

917.0

0

Jackup [Member]

Segment Reporting Information [Line Items]

Revenues

365.1

263.3

Operating Expenses [Abstract]

Contract drilling (exclusive of depreciation)

181.5

150.3

Depreciation

42.8

42.4

General and administrative

0

OPERATING INCOME

140.8

70.6

Property and equipment, net

2,452.5

2,232.8

Other [Member]

Segment Reporting Information [Line Items]

Revenues

21.6

0

Operating Expenses [Abstract]

Contract drilling (exclusive of depreciation)

16.7

0.4

Depreciation

0.5

0.4

General and administrative

0

OPERATING INCOME

4.4

(0.8)

Property and equipment, net

39.5

14.0

Operating Segments Total [Member]

Segment Reporting Information [Line Items]

Revenues

1,026.4

361.5

Operating Expenses [Abstract]

Contract drilling (exclusive of depreciation)

520.2

191.6

Depreciation

135.6

59.1

General and administrative

0

OPERATING INCOME

370.6

110.8

Property and equipment, net

12,860.5

5,255.5

Reconciling Items [Member]

Segment Reporting Information [Line Items]

Revenues

0

Operating Expenses [Abstract]

Contract drilling (exclusive of depreciation)

0

Depreciation

3.8

0.4

General and administrative

38.2

30.1

OPERATING INCOME

(42.0)

(30.5)

Property and equipment, net

$ 29.4

$ 3.6

Segment Information (Schedule Of Geographic Distribution Of Rigs By Segment) (Details)

3 Months Ended

Mar. 31, 2012

rigs

Segment Reporting Information [Line Items]

Total Number Of Contract Drilling Rigs (in rigs)

77 ¹

Deepwater [Member]

Segment Reporting Information [Line Items]

Total Number Of Contract Drilling Rigs (in rigs)

21

Midwater [Member]

Segment Reporting Information [Line Items]

Total Number Of Contract Drilling Rigs (in rigs)

6

Jackup [Member]

Segment Reporting Information [Line Items]

Total Number Of Contract Drilling Rigs (in rigs)

49

Other [Member]

Segment Reporting Information [Line Items]

Total Number Of Contract Drilling Rigs (in rigs)

1

North & South America (Excl. Brazil) [Member]

Segment Reporting Information [Line Items]

Total Number Of Contract Drilling Rigs (in rigs)

21 ¹

North & South America (Excl. Brazil) [Member] |
Deepwater [Member]

Segment Reporting Information [Line Items]

Total Number Of Contract Drilling Rigs (in rigs)

6

North & South America (Excl. Brazil) [Member] |
Midwater [Member]

Segment Reporting Information [Line Items]

Total Number Of Contract Drilling Rigs (in rigs)

0

North & South America (Excl. Brazil) [Member] |
Jackup [Member]

Segment Reporting Information [Line Items]

Total Number Of Contract Drilling Rigs (in rigs)

15

North & South America (Excl. Brazil) [Member] |
Other [Member]

Segment Reporting Information [Line Items]

Total Number Of Contract Drilling Rigs (in rigs)

0

Brazil [Member]

Segment Reporting Information [Line Items]

Total Number Of Contract Drilling Rigs (in rigs)

11 ¹

Brazil [Member] |
Deepwater [Member]

Segment Reporting Information [Line Items]

Total Number Of Contract Drilling Rigs (in rigs)

6

Brazil [Member] |
Midwater [Member]

Segment Reporting Information [Line Items]

Total Number Of Contract Drilling Rigs (in rigs)

5

Brazil [Member] |
Jackup [Member]

Segment Reporting Information [Line Items]

Total Number Of Contract Drilling Rigs (in rigs)

0

Brazil [Member] |
Other [Member]

Segment Reporting Information [Line Items]

Total Number Of Contract Drilling Rigs (in rigs)

0

Europe & Mediterranean [Member]

Segment Reporting Information [Line Items]

Total Number Of Contract Drilling Rigs (in rigs)

9 ¹

Europe & Mediterranean [Member] |
Deepwater [Member]

Segment Reporting Information [Line Items]

Total Number Of Contract Drilling Rigs (in rigs)

1

Europe & Mediterranean [Member] |
Midwater [Member]

Segment Reporting Information [Line Items]

Total Number Of Contract Drilling Rigs (in rigs)

0

Europe & Mediterranean [Member] |
Jackup [Member]

Segment Reporting Information [Line Items]

Total Number Of Contract Drilling Rigs (in rigs)

8

Europe & Mediterranean [Member] |
Other [Member]

Segment Reporting Information [Line Items]

Total Number Of Contract Drilling Rigs (in rigs)

0

Middle East & Africa [Member]

Segment Reporting Information [Line Items]

Total Number Of Contract Drilling Rigs (in rigs)

17 ¹

Middle East & Africa [Member] |
Deepwater [Member]

Segment Reporting Information [Line Items]

Total Number Of Contract Drilling Rigs (in rigs)

4

Middle East & Africa [Member] |
Midwater [Member]

Segment Reporting Information [Line Items]

Total Number Of Contract Drilling Rigs (in rigs)

1

Middle East & Africa [Member] |
Jackup [Member]

Segment Reporting Information [Line Items]

Total Number Of Contract Drilling Rigs (in rigs)

12

Middle East & Africa [Member] |
Other [Member]

Segment Reporting Information [Line Items]

Total Number Of Contract Drilling Rigs (in rigs)

0

Asia & Pacific Rim [Member]

Segment Reporting Information [Line Items]

Total Number Of Contract Drilling Rigs (in rigs)

14 ¹

Asia & Pacific Rim [Member] |
Deepwater [Member]

Segment Reporting Information [Line Items]

Total Number Of Contract Drilling Rigs (in rigs)

2

Asia & Pacific Rim [Member] |
Midwater [Member]

Segment Reporting Information [Line Items]

Total Number Of Contract Drilling Rigs (in rigs)

0

Asia & Pacific Rim [Member] |
Jackup [Member]

Segment Reporting Information [Line Items]

Total Number Of Contract Drilling Rigs (in rigs)

11

Asia & Pacific Rim [Member] |
Other [Member]

Segment Reporting Information [Line Items]

Total Number Of Contract Drilling Rigs (in rigs)

1

Asia & Pacific Rim (under construction) [Member]

Segment Reporting Information [Line Items]

Total Number Of Contract Drilling Rigs (in rigs)

5 ¹ ²

Asia & Pacific Rim (under construction) [Member] |
Deepwater [Member]

Segment Reporting Information [Line Items]

Total Number Of Contract Drilling Rigs (in rigs)

2 ²

Asia & Pacific Rim (under construction) [Member] |
Midwater [Member]

Segment Reporting Information [Line Items]

Total Number Of Contract Drilling Rigs (in rigs)

0 ²

Asia & Pacific Rim (under construction) [Member] |
Jackup [Member]

Segment Reporting Information [Line Items]

Total Number Of Contract Drilling Rigs (in rigs)

3 ²

Asia & Pacific Rim (under construction) [Member] |
Other [Member]

Segment Reporting Information [Line Items]

Total Number Of Contract Drilling Rigs (in rigs)

0 ²

[1] We have three deepwater drilling management contracts not included in the table above.

[2] In April 2012, we entered into an agreement with Samsung Heavy Industries to construct our sixth ultra-deepwater drillship (ENSCO DS-8), which is not included in the table above. The rig is scheduled for delivery during the third quarter of 2014.

Supplemental Financial Information Supplemental Financial Information (Narrative) (Details) (Sales Revenue, Services, Net [Member], USD $)

In Millions, unless otherwise specified

3 Months Ended

Mar. 31, 2012

US Gulf Of Mexico [Member] |
Geographic Concentration Risk [Member]

Revenues

$ 253.4

Concentration Risk, Percentage

25.00%

US Gulf Of Mexico [Member] |
Deepwater [Member] |
Geographic Concentration Risk [Member]

Concentration Risk, Percentage

69.00%

Brazil [Member] |
Geographic Concentration Risk [Member]

Revenues

271.4

Concentration Risk, Percentage

26.00%

Brazil [Member] |
Deepwater [Member] |
Geographic Concentration Risk [Member]

Concentration Risk, Percentage

94.00%

Angola [Member] |
Geographic Concentration Risk [Member]

Revenues

131.2

Concentration Risk, Percentage

13.00%

Angola [Member] |
Deepwater [Member] |
Geographic Concentration Risk [Member]

Concentration Risk, Percentage

67.00%

Petrobras [Member] |
Deepwater And Midwater [Member] |
Product Concentration Risk [Member]

Revenues

258.0

Concentration Risk, Percentage

25.00%

Total [Member] |
Deepwater [Member] |
Product Concentration Risk [Member]

Revenues

$ 116.7

Concentration Risk, Percentage

11.00%

Supplemental Financial Information (Accounts Receivable, Net) (Details) (USD $)

In Millions, unless otherwise specified

Mar. 31, 2012

Dec. 31, 2011

Supplemental Information For Property, Casualty Insurance Underwriters [Line Items]

Accounts receivable

$ 775.5

$ 857.1

Allowance for doubtful accounts

(15.1)

(13.6)

Accounts receivable, net

760.4

843.5

Trade [Member]

Supplemental Information For Property, Casualty Insurance Underwriters [Line Items]

Accounts receivable

743.6

803.5

Other [Member]

Supplemental Information For Property, Casualty Insurance Underwriters [Line Items]

Accounts receivable

$ 31.9

$ 53.6

Supplemental Financial Information (Other Current Assets) (Details) (USD $)

In Millions, unless otherwise specified

Mar. 31, 2012

Dec. 31, 2011

Supplemental Financial Information [Abstract]

Inventory

$ 192.1

$ 188.9

Prepaid taxes

55.6

59.5

Deferred mobilization costs

40.7

43.8

Prepaid expenses

14.5

22.3

Deferred tax assets

7.2

9.1

Marketable securities

0

32.2

Other

17.6

24.5

Other current assets

$ 327.7

$ 380.3

Supplemental Financial Information (Other Assets, Net) (Details) (USD $)

In Millions, unless otherwise specified

Mar. 31, 2012

Dec. 31, 2011

Supplemental Financial Information [Abstract]

Intangible assets

$ 184.0

$ 197.3

Unbilled reimbursable receivables

107.4

119.4

Prepaid taxes on intercompany transfers of property

65.8

68.8

Deferred tax assets

43.8

43.1

Supplemental executive retirement plan assets

28.1

25.6

Deferred mobilization costs

25.0

38.4

Wreckage and debris removal receivables

19.0

19.8

Other

25.0

26.1

Other Assets, Net

$ 498.1

$ 538.5

Supplemental Financial Information (Accrued Liabilities) (Details) (USD $)

In Millions, unless otherwise specified

Mar. 31, 2012

Dec. 31, 2011

Supplemental Financial Information [Abstract]

Personnel Costs

$ 128.8

$ 158.4

Deferred revenue

109.2

111.3

Taxes

80.0

74.7

Accrued interest

36.0

69.4

Wreckage and debris removal

19.0

16.0

Intangible liabilities

0

43.4

Other

65.0

41.4

Accrued liabilities and other

$ 438.0

$ 514.6

Supplemental Financial Information (Other Liabilities) (Details) (USD $)

In Millions, unless otherwise specified

Mar. 31, 2012

Dec. 31, 2011

Supplemental Financial Information [Abstract]

Intangible liabilities

$ 163.5

$ 177.8

Deferred revenue

117.4

124.4

Unrecognized tax benefits (inclusive of interest and penalties)

68.8

75.4

Supplemental executive retirement plan liabilities

34.4

30.1

Other

33.3

37.1

Other liabilities

$ 417.4

$ 444.8

Guarantee Of Registered Securities (Narrative) (Details) (USD $)

In Millions, unless otherwise specified

3 Months Ended

Mar. 31, 2012

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 $)

In Millions, unless otherwise specified

3 Months Ended

Mar. 31, 2012

Mar. 31, 2011

Guarantor Obligations [Line Items]

OPERATING REVENUES

$ 1,026.4

$ 361.5

Contract drilling (exclusive of depreciation)

520.2

191.6

Depreciation

139.4

59.5

General and administrative

38.2

30.1

OPERATING INCOME

328.6

80.3

OTHER INCOME (EXPENSE), NET

(26.2)

2.2

INCOME BEFORE INCOME TAXES

302.4

82.5

INCOME TAX PROVISION

35.0

17.0

NET INCOME

267.4

65.5

NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS

(2.0)

(0.9)

NET INCOME ATTRIBUTABLE TO ENSCO

265.4

64.6

Ensco Plc [Member]

Guarantor Obligations [Line Items]

OPERATING REVENUES

21.9

Contract drilling (exclusive of depreciation)

6.9

0.7

Depreciation

0.1

0.2

General and administrative

14.6

13.3

OPERATING INCOME

0.3

(14.2)

OTHER INCOME (EXPENSE), NET

(11.2)

3.6

INCOME BEFORE INCOME TAXES

(10.9)

(10.6)

EQUITY EARNINGS IN AFFILIATES, NET OF TAX

276.3

75.2

NET INCOME

265.4

64.6

NET INCOME ATTRIBUTABLE TO ENSCO

265.4

64.6

ENSCO International Inc. [Member]

Guarantor Obligations [Line Items]

OPERATING REVENUES

10.6

Contract drilling (exclusive of depreciation)

10.6

Depreciation

0.8

0.3

OPERATING INCOME

(0.8)

(0.3)

OTHER INCOME (EXPENSE), NET

(0.3)

(0.2)

INCOME BEFORE INCOME TAXES

(1.1)

(0.5)

INCOME TAX PROVISION

11.2

5.6

EQUITY EARNINGS IN AFFILIATES, NET OF TAX

44.2

66.1

NET INCOME

31.9

60.0

NET INCOME ATTRIBUTABLE TO ENSCO

31.9

60.0

Pride International, Inc. [Member]

Guarantor Obligations [Line Items]

OTHER INCOME (EXPENSE), NET

(11.7)

INCOME BEFORE INCOME TAXES

(11.7)

EQUITY EARNINGS IN AFFILIATES, NET OF TAX

79.7

NET INCOME

68.0

NET INCOME ATTRIBUTABLE TO ENSCO

68.0

Other Non-Guarantor Subsidiaries Of Ensco [Member]

Guarantor Obligations [Line Items]

OPERATING REVENUES

1,042.8

361.8

Contract drilling (exclusive of depreciation)

551.6

191.2

Depreciation

138.5

59.0

General and administrative

23.6

16.8

OPERATING INCOME

329.1

94.8

OTHER INCOME (EXPENSE), NET

(3.0)

(1.2)

INCOME BEFORE INCOME TAXES

326.1

93.6

INCOME TAX PROVISION

23.8

11.4

NET INCOME

302.3

82.2

NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS

(2.0)

(0.9)

NET INCOME ATTRIBUTABLE TO ENSCO

300.3

81.3

Consolidating Adjustments [Member]

Guarantor Obligations [Line Items]

OPERATING REVENUES

(48.9)

(0.3)

Contract drilling (exclusive of depreciation)

(48.9)

(0.3)

EQUITY EARNINGS IN AFFILIATES, NET OF TAX

(400.2)

(141.3)

NET INCOME

(400.2)

(141.3)

NET INCOME ATTRIBUTABLE TO ENSCO

$ (400.2)

$ (141.3)

Guarantee Of Registered Securities Guarantee Of Registered Securities (Condensed Consolidating Statements of Comprehensive Income) (Details) (USD $)

In Millions, unless otherwise specified

3 Months Ended

Mar. 31, 2012

Mar. 31, 2011

NET INCOME

$ 267.4

$ 65.5

OTHER COMPREHENSIVE INCOME (LOSS), NET:

Net change in fair value of derivatives

6.3

2.9

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

(0.1)

(0.8)

Other

(1.9)

Net other comprehensive income (loss)

4.3

2.1

COMPREHENSIVE INCOME

271.7

67.6

COMPREHENSIVE INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS

(2.0)

(0.9)

COMPREHENSIVE INCOME ATTRIBUTABLE TO ENSCO

269.7

66.7

Ensco Plc [Member]

NET INCOME

265.4

64.6

OTHER COMPREHENSIVE INCOME (LOSS), NET:

COMPREHENSIVE INCOME

265.4

64.6

COMPREHENSIVE INCOME ATTRIBUTABLE TO ENSCO

265.4

64.6

ENSCO International Inc. [Member]

NET INCOME

31.9

60.0

OTHER COMPREHENSIVE INCOME (LOSS), NET:

Net change in fair value of derivatives

(3.4)

2.0

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

0.1

Net other comprehensive income (loss)

(3.3)

2.1

COMPREHENSIVE INCOME

28.6

62.1

COMPREHENSIVE INCOME ATTRIBUTABLE TO ENSCO

28.6

62.1

Pride International, Inc. [Member]

NET INCOME

68.0

OTHER COMPREHENSIVE INCOME (LOSS), NET:

COMPREHENSIVE INCOME

68.0

COMPREHENSIVE INCOME ATTRIBUTABLE TO ENSCO

68.0

Other Non-Guarantor Subsidiaries Of Ensco [Member]

NET INCOME

302.3

82.2

OTHER COMPREHENSIVE INCOME (LOSS), NET:

Net change in fair value of derivatives

9.7

0.9

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

(0.2)

(0.9)

Other

(1.9)

0

Net other comprehensive income (loss)

7.6

COMPREHENSIVE INCOME

309.9

82.2

COMPREHENSIVE INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS

(2.0)

(0.9)

COMPREHENSIVE INCOME ATTRIBUTABLE TO ENSCO

307.9

81.3

Consolidating Adjustments [Member]

NET INCOME

(400.2)

(141.3)

OTHER COMPREHENSIVE INCOME (LOSS), NET:

COMPREHENSIVE INCOME

(400.2)

(141.3)

COMPREHENSIVE INCOME ATTRIBUTABLE TO ENSCO

$ (400.2)

$ (141.3)

Guarantee Of Registered Securities (Condensed Consolidating Balance Sheets) (Details) (USD $)

In Millions, unless otherwise specified

Mar. 31, 2012

Dec. 31, 2011

Mar. 31, 2011

Dec. 31, 2010

Guarantor Obligations [Line Items]

Cash and cash equivalents

$ 208.9

$ 430.7

$ 3,432.1

$ 1,050.7

Accounts receivable

760.4

843.5

Other

327.7

380.3

Total current assets

1,297.0

1,654.5

PROPERTY AND EQUIPMENT, AT COST

15,083.5

14,483.4

Less accumulated depreciation

2,193.6

2,061.5

Property and equipment, net

12,889.9

12,421.9

5,259.1

GOODWILL

3,263.0

OTHER ASSETS, NET

498.1

538.5

TOTAL ASSETS

17,948.0

17,877.9

Accounts payable and accrued liabilities

991.5

1,159.0

Short-term debt

200.0

125.0

Current maturities of long-term debt

47.5

Total current liabilities

1,239.0

1,331.5

LONG-TERM DEBT

4,862.6

4,877.6

DEFERRED INCOME TAXES

341.4

339.5

OTHER LIABILITIES

417.4

444.8

ENSCO SHAREHOLDERS' EQUITY

11,080.8

10,879.3

NONCONTROLLING INTERESTS

6.8

5.2

Total equity

11,087.6

10,884.5

Total liabilities and shareholders' equity

17,948.0

17,877.9

Ensco Plc [Member]

Guarantor Obligations [Line Items]

Cash and cash equivalents

12.2

236.6

2,453.8

3.4

Accounts receivable from affiliates

1,289.5

1,268.4

Other

3.0

2.8

Total current assets

1,304.7

1,507.8

PROPERTY AND EQUIPMENT, AT COST

1.8

Less accumulated depreciation

0.8

0.7

Property and equipment, net

1.0

1.1

DUE FROM AFFILIATES

2,506.8

2,002.3

INVESTMENTS IN AFFILIATES

12,318.1

12,041.9

OTHER ASSETS, NET

13.2

13.9

TOTAL ASSETS

16,143.8

15,567.0

Accounts payable and accrued liabilities

6.6

30.4

Accounts payable to affiliates

1,193.2

575.1

Short-term debt

200.0

125.0

Total current liabilities

1,399.8

730.5

DUE TO AFFILIATES

1,922.6

2,191.7

LONG-TERM DEBT

2,466.7

2,465.7

ENSCO SHAREHOLDERS' EQUITY

10,354.7

10,179.1

Total equity

10,354.7

10,179.1

Total liabilities and shareholders' equity

16,143.8

15,567.0

ENSCO International Inc. [Member]

Guarantor Obligations [Line Items]

Cash and cash equivalents

13.5

209.2

19.1

Accounts receivable

7.7

0.3

Accounts receivable from affiliates

71.5

89.8

Other

24.6

35.2

Total current assets

117.3

125.3

PROPERTY AND EQUIPMENT, AT COST

29.9

30.6

Less accumulated depreciation

21.8

23.8

Property and equipment, net

8.1

6.8

DUE FROM AFFILIATES

2,616.1

2,486.9

INVESTMENTS IN AFFILIATES

3,010.2

2,966.0

OTHER ASSETS, NET

76.7

83.4

TOTAL ASSETS

5,828.4

5,668.4

Accounts payable and accrued liabilities

10.8

20.0

Accounts payable to affiliates

735.5

606.6

Total current liabilities

746.3

626.6

DUE TO AFFILIATES

1,053.3

1,058.2

LONG-TERM DEBT

149.0

DEFERRED INCOME TAXES

327.2

326.8

OTHER LIABILITIES

5.2

ENSCO SHAREHOLDERS' EQUITY

3,552.6

3,502.6

Total equity

3,552.6

3,502.6

Total liabilities and shareholders' equity

5,828.4

5,668.4

Pride International, Inc. [Member]

Guarantor Obligations [Line Items]

Cash and cash equivalents

29.3

22.6

Accounts receivable

5.2

Accounts receivable from affiliates

535.5

278.2

Other

1.4

47.0

Total current assets

566.2

353.0

GOODWILL

2,926.8

DUE FROM AFFILIATES

208.3

313.5

INVESTMENTS IN AFFILIATES

4,892.1

4,802.6

OTHER ASSETS, NET

108.9

34.6

TOTAL ASSETS

5,775.5

5,503.7

Accounts payable and accrued liabilities

23.4

27.4

Accounts payable to affiliates

110.5

85.2

Total current liabilities

133.9

112.6

DUE TO AFFILIATES

633.4

401.3

LONG-TERM DEBT

2,064.6

2,072.5

OTHER LIABILITIES

20.6

ENSCO SHAREHOLDERS' EQUITY

2,943.6

2,896.7

Total equity

2,943.6

2,896.7

Total liabilities and shareholders' equity

5,775.5

5,503.7

Other Non-Guarantor Subsidiaries Of Ensco [Member]

Guarantor Obligations [Line Items]

Cash and cash equivalents

153.9

171.5

769.1

1,028.2

Accounts receivable

752.7

838.0

Accounts receivable from affiliates

2,003.8

1,194.5

Other

298.7

295.3

Total current assets

3,209.1

2,499.3

PROPERTY AND EQUIPMENT, AT COST

15,051.8

14,451.0

Less accumulated depreciation

2,171.0

2,037.0

Property and equipment, net

12,880.8

12,414.0

GOODWILL

3,263.0

DUE FROM AFFILIATES

3,597.0

3,638.7

OTHER ASSETS, NET

299.3

406.6

TOTAL ASSETS

23,249.2

22,221.6

Accounts payable and accrued liabilities

950.7

1,081.2

Accounts payable to affiliates

1,861.1

1,564.0

Current maturities of long-term debt

47.5

Total current liabilities

2,859.3

2,692.7

DUE TO AFFILIATES

5,318.9

4,790.2

LONG-TERM DEBT

182.3

190.4

DEFERRED INCOME TAXES

14.2

12.7

OTHER LIABILITIES

417.4

419.0

ENSCO SHAREHOLDERS' EQUITY

14,450.3

14,111.4

NONCONTROLLING INTERESTS

6.8

5.2

Total equity

14,457.1

14,116.6

Total liabilities and shareholders' equity

23,249.2

22,221.6

Consolidating Adjustments [Member]

Guarantor Obligations [Line Items]

Accounts receivable from affiliates

(3,900.3)

(2,830.9)

Total current assets

(3,900.3)

(2,830.9)

DUE FROM AFFILIATES

(8,928.2)

(8,441.4)

INVESTMENTS IN AFFILIATES

(20,220.4)

(19,810.5)

TOTAL ASSETS

(33,048.9)

(31,082.8)

Accounts payable to affiliates

(3,900.3)

(2,830.9)

Total current liabilities

(3,900.3)

(2,830.9)

DUE TO AFFILIATES

(8,928.2)

(8,441.4)

ENSCO SHAREHOLDERS' EQUITY

(20,220.4)

(19,810.5)

Total equity

(20,220.4)

(19,810.5)

Total liabilities and shareholders' equity

$ (33,048.9)

$ (31,082.8)

Guarantee Of Registered Securities (Condensed Consolidating Statements Of Cash Flows) (Details) (USD $)

In Millions, unless otherwise specified

3 Months Ended

Mar. 31, 2012

Mar. 31, 2011

OPERATING ACTIVITIES

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

$ 547.3

$ 125.2

INVESTING ACTIVITIES

Additions to property and equipment

(764.1)

(131.0)

Proceeds from disposition of assets

0.6

0.5

Payments for (Proceeds from) Other Investing Activities

4.5

0

Net cash used in investing activities

(759.0)

(130.5)

FINANCING ACTIVITIES

Proceeds from short-term borrowings

2,462.8

Cash dividends paid

(86.8)

(50.2)

Debt financing costs

0

(25.5)

Commercial paper borrowings, net

75.0

0

Reduction of long-term borrowings

(7.1)

0

Other

8.3

(0.5)

Net cash (used in) provided by financing activities

(10.6)

2,386.6

Effect of exchange rate changes on cash and cash equivalents

0.5

0.1

(DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS

(221.8)

2,381.4

CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD

430.7

1,050.7

CASH AND CASH EQUIVALENTS, END OF PERIOD

208.9

3,432.1

Ensco Plc [Member]

OPERATING ACTIVITIES

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

(20.3)

7.7

FINANCING ACTIVITIES

Proceeds from short-term borrowings

2,462.8

Cash dividends paid

(86.8)

(50.2)

Debt financing costs

(21.5)

Commercial paper borrowings, net

75.0

Advances (to) from affiliates

(192.3)

55.6

Net cash (used in) provided by financing activities

(204.1)

2,446.7

(DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS

(224.4)

2,450.4

CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD

236.6

3.4

CASH AND CASH EQUIVALENTS, END OF PERIOD

12.2

2,453.8

ENSCO International Inc. [Member]

OPERATING ACTIVITIES

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

(21.8)

49.8

INVESTING ACTIVITIES

Additions to property and equipment

0.7

Net cash used in investing activities

0.7

FINANCING ACTIVITIES

Advances (to) from affiliates

22.8

139.1

Other

11.8

1.2

Net cash (used in) provided by financing activities

34.6

140.3

(DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS

13.5

190.1

CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD

19.1

CASH AND CASH EQUIVALENTS, END OF PERIOD

13.5

209.2

Pride International, Inc. [Member]

OPERATING ACTIVITIES

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

(67.4)

FINANCING ACTIVITIES

Advances (to) from affiliates

74.1

Net cash (used in) provided by financing activities

74.1

(DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS

6.7

CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD

22.6

CASH AND CASH EQUIVALENTS, END OF PERIOD

29.3

Other Non-Guarantor Subsidiaries Of Ensco [Member]

OPERATING ACTIVITIES

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

656.8

67.7

INVESTING ACTIVITIES

Additions to property and equipment

(764.8)

(131.0)

Proceeds from disposition of assets

0.6

0.5

Payments for (Proceeds from) Other Investing Activities

4.5

Net cash used in investing activities

(759.7)

(130.5)

FINANCING ACTIVITIES

Debt financing costs

(4.0)

Reduction of long-term borrowings

(7.1)

Advances (to) from affiliates

95.4

(194.7)

Other

(3.5)

(1.7)

Net cash (used in) provided by financing activities

84.8

(200.4)

Effect of exchange rate changes on cash and cash equivalents

0.5

0.1

(DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS

(17.6)

(259.1)

CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD

171.5

1,028.2

CASH AND CASH EQUIVALENTS, END OF PERIOD

$ 153.9

$ 769.1

Subsequent Events (Details)

May 2, 2012

Five-Year Credit Facility [Member]

May 10, 2012

364-Day Credit Facility [Member]

Subsequent Event [Line Items]

Term of credit facility agreement

5 years

364 days