Document And Entity Information (USD $)
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12 Months Ended | ||
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Dec. 31, 2010
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Feb. 15, 2011
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Jun. 30, 2010
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Entity Registrant Name | Transocean Ltd. | ||
Entity Central Index Key | 0001451505 | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Filer Category | Large Accelerated Filer | ||
Entity Public Float | $ 14,800,000,000 | ||
Entity Common Stock, Shares Outstanding | 319,100,641 | ||
Document Fiscal Year Focus | 2010 | ||
Document Fiscal Period Focus | FY | ||
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Period End Date | Dec. 31, 2010 |
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If the value is true, then the document as an amendment to previously-filed/accepted document. No definition available.
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- Definition
End date of current fiscal year in the format --MM-DD. No definition available.
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- Definition
This is focus fiscal period of the document report. For a first quarter 2006 quarterly report, which may also provide financial information from prior periods, the first fiscal quarter should be given as the fiscal period focus. Values: FY, Q1, Q2, Q3, Q4, H1, H2, M9, T1, T2, T3, M8, CY. No definition available.
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- Definition
This is focus fiscal year of the document report in CCYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006. No definition available.
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- Definition
The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements this will be the filing date. The format of the date is CCYY-MM-DD. No definition available.
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- Definition
The type of document being provided (such as 10-K, 10-Q, N-1A, etc). The document type should be limited to the same value as the supporting SEC submission type. The acceptable values are as follows: S-1, S-3, S-4, S-11, F-1, F-3, F-4, F-9, F-10, 6-K, 8-K, 10, 10-K, 10-Q, 20-F, 40-F, N-1A, 485BPOS, NCSR, N-Q, and Other. No definition available.
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- Definition
A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Indicate number of shares outstanding of each of registrant's classes of common stock, as of latest practicable date. Where multiple classes exist define each class by adding class of stock items such as Common Class A [Member], Common Class B [Member] onto the Instrument [Domain] of the Entity Listings, Instrument No definition available.
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- Definition
Indicate "Yes" or "No" whether registrants (1) have filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that registrants were required to file such reports), and (2) have been subject to such filing requirements for the past 90 days. This information should be based on the registrant's current or most recent filing containing the related disclosure. No definition available.
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- Definition
Indicate whether the registrant is one of the following: (1) Large Accelerated Filer, (2) Accelerated Filer, (3) Non-accelerated Filer, or (4) Smaller Reporting Company. Definitions of these categories are stated in Rule 12b-2 of the Exchange Act. This information should be based on the registrant's current or most recent filing containing the related disclosure. No definition available.
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- Definition
State aggregate market value of voting and non-voting common equity held by non-affiliates computed by reference to price at which the common equity was last sold, or average bid and asked price of such common equity, as of the last business day of registrant's most recently completed second fiscal quarter. The public float should be reported on the cover page of the registrants form 10K. No definition available.
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- Definition
The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Indicate "Yes" or "No" if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. No definition available.
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- Definition
Indicate "Yes" or "No" if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Is used on Form Type: 10-K, 10-Q, 8-K, 20-F, 6-K, 10-K/A, 10-Q/A, 20-F/A, 6-K/A, N-CSR, N-Q, N-1A. No definition available.
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- Definition
No authoritative reference available. No definition available.
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- Definition
The charge against earnings resulting from the aggregate write down of all assets from their carrying value to their fair value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Costs incurred and are directly related to generating contract revenues. No definition available.
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- Definition
Depreciation of property, plant and equipment directly related to services rendered by an entity during the reporting period. No definition available.
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- Definition
Total costs of sales and operating expenses for the period. No definition available.
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- Definition
The amount of net income or loss for the period per each share of common stock outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The amount of net income or loss for the period per each share of common stock and dilutive common stock equivalents outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The gains and losses included in earnings resulting from the sale or disposal of tangible assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount represents the difference between the fair value of the payments made and the carrying amount of the debt at the time of its extinguishment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. No definition available.
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- Definition
Sum of operating profit and nonoperating income (expense) before income (loss) from equity method investments, income taxes, extraordinary items, cumulative effects of changes in accounting principles, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The sum of the current income tax expense (benefit) and the deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The cost of borrowed funds accounted for as interest that was charged against earnings during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Income derived from investments in debt securities and on cash and cash equivalents the earnings of which reflect the time value of money or transactions in which the payments are for the use or forbearance of money. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The portion of consolidated profit or loss for the period, net of income taxes, which is attributable to the parent. If the entity does not present consolidated financial statements, the amount of profit or loss for the period, net of income taxes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The portion of net income (loss) attributable to the noncontrolling interest (if any) deducted in order to derive the portion attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The aggregate amount of income (expense) from ancillary business-related activities (that is to say, excluding major activities considered part of the normal operations of the business). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
The net result for the period of deducting operating expenses from operating revenues. No definition available.
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- Details
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- Definition
The net amount of other nonoperating income and expense, which does not qualify for separate disclosure on the income statement under materiality guidelines. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Revenues from the sale of other goods or rendering of other services, not elsewhere specified in the taxonomy; net of (reduced by) sales adjustments, returns, allowances, and discounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Revenue from oil and gas-related services including well services (such as drilling, rigs and analytic evaluations), transportation, and other supporting contractor services, during the reporting period. No definition available.
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- Definition
Aggregate revenue recognized during the period (derived from goods sold, services rendered, insurance premiums, or other activities that constitute an entity's earning process). For financial services companies, also includes investment and interest income, and sales and trading gains. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The average number of shares issued and outstanding that are used in calculating diluted EPS, determined based on the timing of issuance of shares in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
Number of [basic] shares, after adjustment for contingently issuable shares and other shares not deemed outstanding, determined by relating the portion of time within a reporting period that common shares have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (USD $)
In Millions, unless otherwise specified |
12 Months Ended | ||
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Dec. 31, 2010
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Dec. 31, 2009
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Dec. 31, 2008
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Statement of Income and Comprehensive Income [Abstract] | |||
Net income | $ 988 | $ 3,170 | $ 4,029 |
Other comprehensive income (loss) before income taxes | |||
Unrecognized components of net periodic benefit costs | (8) | 37 | (388) |
Recognized components of net periodic benefit costs | 16 | 24 | 5 |
Unrecognized loss on derivative instruments | (29) | (2) | (1) |
Recognized loss on derivative instruments | 12 | 6 | 0 |
Other, net | 0 | 1 | (3) |
Other comprehensive income (loss) before income taxes | (9) | 66 | (387) |
Income taxes related to other comprehensive income (loss) | (9) | 24 | 9 |
Other comprehensive income (loss), net of income taxes | (18) | 90 | (378) |
Total comprehensive income | 970 | 3,260 | 3,651 |
Total comprehensive income (loss) attributable to noncontrolling interest | 6 | (6) | (2) |
Total comprehensive income attributable to controlling interest | $ 964 | $ 3,266 | $ 3,653 |
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- Definition
No authoritative reference available. No definition available.
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- Definition
The change in equity [net assets] of a business enterprise during a period from transactions and other events and circumstances from non-owner sources which are attributable to the reporting entity. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners, but excludes any and all transactions which are directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The change in equity [net assets] of a business enterprise during a period from transactions and other events and circumstances from non-owner sources which are attributable to noncontrolling interests, if any. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners, which are directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The change in equity [net assets] of a business enterprise during a period from transactions and other events and circumstances from non-owner sources which are attributable to the economic entity, including both controlling (parent) and noncontrolling interests. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners, including any and all transactions which are directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The effective portion of gains and losses (net) on derivative instruments designated and qualifying as hedging instruments that was recognized in other comprehensive income during the current period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Pretax change in the value of either the benefit obligation or the plan assets resulting from experience different from that assumed or from a change in an actuarial assumption, or the consequence of a decision to temporarily deviate from the substantive plan, that has not been recognized in net periodic benefit cost. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
This element represents Other Comprehensive Income (Loss), Before Tax, for the period. The pretax revenues, expenses, gains, and losses that under generally accepted accounting principles are included in comprehensive income, but excluded from net income. Includes the entity's proportionate share of an investee's equity adjustments for other comprehensive income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
This element represents Other Comprehensive Income (Loss), Net of Tax, for the period. Includes deferred gains (losses) on qualifying hedges, unrealized holding gains (losses) on available-for-sale securities, minimum pension liability, and cumulative translation adjustment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Tax effect of the change in accumulated other comprehensive income, that is, the tax effect on items included in other comprehensive income during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Pre tax reclassification adjustment for accumulated gains and losses from derivative instrument designated and qualifying as the effective portion of cash flow hedges included in accumulated comprehensive income that was realized in net income during the period. A cash flow hedge is a hedge of the exposure to variability in the cash flows of a recognized asset or liability or a forecasted transaction that is attributable to a particular risk. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The net gain or loss previously recognized in other comprehensive income that is a reclassification adjustment of other comprehensive income as a result of being recognized as a component of net periodic benefit cost for the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
No authoritative reference available. No definition available.
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- Definition
No authoritative reference available. No definition available.
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- Definition
No authoritative reference available. No definition available.
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- Definition
No authoritative reference available. No definition available.
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- Definition
No authoritative reference available. No definition available.
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- Definition
No authoritative reference available. No definition available.
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- Definition
As of the reporting date, the carrying amount of noncontrolling interests which are redeemable by the (parent) entity (1) at a fixed or determinable price on a fixed or determinable date, (2) at the option of the holder of the noncontrolling interest, or (3) upon occurrence of an event that is not solely within the control of the (parent) entity. No definition available.
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- Definition
Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
Carrying amount as of the balance sheet date of the unpaid sum of the known and estimated amounts payable to satisfy all currently due domestic and foreign income tax obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The cumulative amount of depreciation, depletion and amortization (related to property, plant and equipment, but not including land) that has been recognized in the income statement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at fiscal year-end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, and unrealized gains and losses on certain investments in debt and equity securities as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Excess of issue price over par or stated value of the entity's capital stock and amounts received from other transactions involving the entity's stock or stockholders. Includes adjustments to additional paid in capital. Some examples of such adjustments include recording the issuance of debt with a beneficial conversion feature and certain tax consequences of equity instruments awarded to employees. Use this element for the aggregate amount of APIC associated with common AND preferred stock. For APIC associated with only common stock, use the element Additional Paid In Capital, Common Stock. For APIC associated with only preferred stock, use the element Additional Paid In Capital, Preferred Stock. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Current assets (normally turning over within one year or one business cycle if longer) that are held for sale apart from normal operations and anticipated to be sold within one year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Includes currency on hand as well as demand deposits with banks or financial institutions. It also includes other kinds of accounts that have the general characteristics of demand deposits in that the Entity may deposit additional funds at any time and also effectively may withdraw funds at any time without prior notice or penalty. Cash equivalents, excluding items classified as marketable securities, include short-term, highly liquid investments that are both readily convertible to known amounts of cash, and so near their maturity that they present minimal risk of changes in value because of changes in interest rates. Generally, only investments with original maturities of three months or less qualify under that definition. Original maturity means original maturity to the entity holding the investment. For example, both a three-month US Treasury bill and a three-year Treasury note purchased three months from maturity qualify as cash equivalents. However, a Treasury note purchased three years ago does not become a cash equivalent when its remaining maturity is three months. Compensating balance arrangements that do not legally restrict the withdrawal or usage of cash amounts may be reported as Cash and Cash Equivalents, while legally restricted deposits held as compensating balances against borrowing arrangements, contracts entered into with others, or company statements of intention with regard to particular deposits should not be reported as cash and cash equivalents. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Represents the caption on the face of the balance sheet to indicate that the entity has entered into (1) purchase or supply arrangements that will require expending a portion of its resources to meet the terms thereof, and (2) is exposed to potential losses or, less frequently, gains, arising from (a) possible claims against a company's resources due to future performance under contract terms, and (b) possible losses or likely gains from uncertainties that will ultimately be resolved when one or more future events that are deemed likely to occur do occur or fail to occur. This caption alerts the reader that one or more notes to the financial statements disclose pertinent information about the entity's commitments and contingencies. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Dollar value of issued common stock whether issued at par value, no par or stated value. This item includes treasury stock repurchased by the entity. Note: elements for number of common shares, par value and other disclosure concepts are in another section within stockholders' equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The current portion of the aggregate tax effects as of the balance sheet date of all future tax deductions arising from temporary differences between tax basis and generally accepted accounting principles basis recognition of assets, liabilities, revenues and expenses, which can only be deducted for tax purposes when permitted under enacted tax laws; after deducting the allocated valuation allowance, if any, to reduce such amount to net realizable value. Deferred tax liabilities and assets shall be classified as current or noncurrent based on the classification of the related asset or liability for financial reporting. A deferred tax liability or asset that is not related to an asset or liability for financial reporting, including deferred tax assets related to carryforwards, shall be classified according to the expected reversal date of the temporary difference. An unrecognized tax benefit that is directly related to a position taken in a tax year that results in a net operating loss carryforward should be presented as a reduction of the related deferred tax asset. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Represents the noncurrent portion of deferred tax liabilities, which result from applying the applicable tax rate to net taxable temporary differences pertaining to each jurisdiction to which the entity is obligated to pay income tax. A noncurrent taxable temporary difference is a difference between the tax basis and the carrying amount of a noncurrent asset or liability in the financial statements prepared in accordance with generally accepted accounting principles. In a classified statement of financial position, an enterprise shall separate deferred tax liabilities and assets into a current amount and a noncurrent amount. Deferred tax liabilities and assets shall be classified as current or noncurrent based on the classification of the related asset or liability for financial reporting. A deferred tax liability or asset that is not related to an asset or liability for financial reporting, including deferred tax assets related to carryforwards, shall be classified according to the expected reversal date of the temporary difference. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Carrying amount as of the balance sheet date, which is the cumulative amount paid, adjusted for any amortization recognized prior to adoption of FAS 142 and for any impairment charges, in excess of the fair value of net assets acquired in one or more business combination transactions. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Total of all Liabilities and Stockholders' Equity items. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Total obligations incurred as part of normal operations that is expected to be repaid beyond the following twelve months or one business cycle. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Total of all Stockholders' Equity (deficit) items, net of receivables from officers, directors owners, and affiliates of the entity which is directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Aggregate carrying amount, as of the balance sheet date, of current assets not separately presented elsewhere in the balance sheet. Current assets are expected to be realized or consumed within one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Aggregate carrying amount, as of the balance sheet date, of noncurrent assets not separately disclosed in the balance sheet due to materiality considerations. Noncurrent assets are expected to be realized or consumed after one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Aggregate carrying amount, as of the balance sheet date, of current obligations not separately disclosed in the balance sheet due to materiality considerations. Current liabilities are expected to be paid within one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Aggregate carrying amount, as of the balance sheet date, of noncurrent obligations not separately disclosed in the balance sheet due to materiality considerations. Noncurrent liabilities are expected to be paid after one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Carrying amounts due as of the balance sheet date from parties or arising from transactions not otherwise specified in the taxonomy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Tangible assets that are held by an entity for use in the production or supply of goods and services, for rental to others, or for administrative purposes and that are expected to provide economic benefit for more than one year; net of accumulated depreciation. Examples include land, buildings, and production equipment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The total amount due to the entity within one year of the balance sheet date (or one operating cycle, if longer) from outside sources, including trade accounts receivable, notes and loans receivable, as well as any other types of receivables, net of allowances established for the purpose of reducing such receivables to an amount that approximates their net realizable value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The cumulative amount of the reporting entity's undistributed earnings or deficit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Total of all Stockholders' Equity (deficit) items, net of receivables from officers, directors owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Total of Stockholders' Equity (deficit) items, net of receivables from officers, directors owners, and affiliates of the entity including portions attributable to both the parent and noncontrolling interests (previously referred to as minority interest), if any. The entity including portions attributable to the parent and noncontrolling interests is sometimes referred to as the economic entity. This excludes temporary equity and is sometimes called permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Carrying amount as of the balance sheet date of capitalized payments for supplies which will be consumed in operations within one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Value of common and preferred shares of an entity that were issued, repurchased by the entity, and are held in its treasury. Treasury stock is issued but is not outstanding. This stock has no voting rights and receives no dividends. Note that treasury stock may be recorded at its total cost or separately as par (or stated) value and additional paid in capital. Note: number of treasury shares concept is in another section within stockholders' equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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CONSOLIDATED BALANCE SHEETS (Parenthetical) (CHF)
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Dec. 31, 2010
|
Dec. 31, 2009
|
---|---|---|
Liabilities and equity | ||
Shares, par value (in Swiss Francs per share) | 15 | 15 |
Common Stock, Shares Authorized | 335,235,298 | 502,852,947 |
Shares, conditionally authorized (in shares) | 167,617,649 | 167,617,649 |
Common Stock, Shares, Issued | 335,235,298 | 335,235,298 |
Common Stock, Shares, Outstanding | 319,080,678 | 321,223,882 |
Treasury Stock, Shares | 2,863,267 |
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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X | ||||||||||
- Definition
Face amount or stated value of common stock per share; generally not indicative of the fair market value per share. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The maximum number of common shares permitted to be issued by an entity's charter and bylaws. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Total number of common shares of an entity that have been sold or granted to shareholders (includes common shares that were issued, repurchased and remain in the treasury). These shares represent capital invested by the firm's shareholders and owners, and may be all or only a portion of the number of shares authorized. Shares issued include shares outstanding and shares held in the treasury. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Total number of shares of common stock held by shareholders. May be all or portion of the number of common shares authorized. These shares represent the ownership interest of the common shareholders. Excludes common shares repurchased by the entity and held as Treasury shares. Shares outstanding equals shares issued minus shares held in treasury. Does not include common shares that have been repurchased. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Details
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X | ||||||||||
- Definition
Number of common and preferred shares that were previously issued and that were repurchased by the issuing entity and held in treasury on the financial statement date. This stock has no voting rights and receives no dividends. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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X | ||||||||||
- Definition
Effect Of Redomestication No definition available.
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X | ||||||||||
- Definition
Change in noncontrolling interest during the period as a result of a reclassification from noncontrolling interests to temporary equity. No definition available.
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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X | ||||||||||
- Definition
This element represents the amount of recognized share-based compensation during the period, that is, the amount recognized as expense in the income statement (or as asset if compensation is capitalized). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The portion of consolidated profit or loss for the period, net of income taxes, which is attributable to the parent. If the entity does not present consolidated financial statements, the amount of profit or loss for the period, net of income taxes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
This element represents Other Comprehensive Income (Loss), Net of Tax, for the period attributable to the parent entity. Includes deferred gains (losses) on qualifying hedges, unrealized holding gains (losses) on available-for-sale securities, minimum pension liability, and cumulative translation adjustment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Number of shares of stock issued as of the balance sheet date, including shares that had been issued and were previously outstanding but which are now held in the treasury. No definition available.
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X | ||||||||||
- Definition
Total of Stockholders' Equity (deficit) items, net of receivables from officers, directors owners, and affiliates of the entity including portions attributable to both the parent and noncontrolling interests (previously referred to as minority interest), if any. The entity including portions attributable to the parent and noncontrolling interests is sometimes referred to as the economic entity. This excludes temporary equity and is sometimes called permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Number of new stock issued during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Number of shares issued during the period as a result of any share-based compensation plan other than an employee stock ownership plan (ESOP). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Value of new stock issued during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Value of stock issued during the period as a result of any share-based compensation plan other than an employee stock ownership plan (ESOP). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Number of shares that have been repurchased and retired during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Value of stock that has been repurchased and retired during the period. The excess of the purchase price over par value can be charged against retained earnings (once the excess is fully allocated to additional paid in capital). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Number of shares that have been repurchased during the period and are being held in treasury. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Cost of common and preferred stock that were repurchased during the period. Recorded using the cost method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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X | ||||||||||
- Details
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X | ||||||||||
- Definition
Transactions that do not result in cash inflows or outflows in the period in which they occur, but affect net income and thus are removed when calculating net cash flow from operating activities using the indirect cash flow method. This element is used when there is not a more specific and appropriate element. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The component of interest expense representing the noncash expenses charged against earnings in the period to allocate debt discount and premium, and the costs to issue debt and obtain financing over the related debt instruments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The charge against earnings resulting from the aggregate write down of all assets from their carrying value to their fair value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Includes currency on hand as well as demand deposits with banks or financial institutions. It also includes other kinds of accounts that have the general characteristics of demand deposits in that the Entity may deposit additional funds at any time and also effectively may withdraw funds at any time without prior notice or penalty. Cash equivalents, excluding items classified as marketable securities, include short-term, highly liquid investments that are both readily convertible to known amounts of cash, and so near their maturity that they present minimal risk of changes in value because of changes in interest rates. Generally, only investments with original maturities of three months or less qualify under that definition. Original maturity means original maturity to the entity holding the investment. For example, both a three-month US Treasury bill and a three-year Treasury note purchased three months from maturity qualify as cash equivalents. However, a Treasury note purchased three years ago does not become a cash equivalent when its remaining maturity is three months. Compensating balance arrangements that do not legally restrict the withdrawal or usage of cash amounts may be reported as Cash and Cash Equivalents, while legally restricted deposits held as compensating balances against borrowing arrangements, contracts entered into with others, or company statements of intention with regard to particular deposits should not be reported as cash and cash equivalents. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The net change between the beginning and ending balance of cash and cash equivalents. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Depreciation of property, plant and equipment directly related to services rendered by an entity during the reporting period. No definition available.
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X | ||||||||||
- Definition
The component of income tax expense for the period representing the net change in the entity's deferred tax assets and liabilities pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Reductions in the entity's income taxes that arise when compensation cost (from non-qualified share-based compensation) recognized on the entity's tax return exceeds compensation cost from share-based compensation recognized in financial statements. This element represents the cash inflow reported in the enterprise's financing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Reductions in the entity's income taxes that arise when compensation cost (from non-qualified share-based compensation) recognized on the entity's tax return exceeds compensation cost from share-based compensation recognized in financial statements. This element reduces net cash provided by operating activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The difference between the sale price or salvage price and the book value of a property, plant, and equipment asset that was sold or retired during the reporting period. This element refers to the gain (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Amount represents the difference between the fair value of the payments made and the carrying amount of the debt at the time of its extinguishment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The net change during the reporting period in the value of expenditures made during the current reporting period for benefits that will be received over a period of years. Deferred charges differ from prepaid expenses in that they usually extend over a long period of time and may or may not be regularly recurring costs of operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The net change during the reporting period, excluding the portion taken into income, in the liability reflecting services yet to be performed by the reporting entity for which cash or other forms of consideration was received or recorded as a receivable. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The net change during the reporting period of all current assets and liabilities used in operating activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The net cash inflow (outflow) from financing activity for the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Details
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X | ||||||||||
- Definition
The net cash inflow (outflow) from investing activity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Details
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X | ||||||||||
- Definition
The net cash from (used in) all of the entity's operating activities, including those of discontinued operations, of the reporting entity. Operating activities generally involve producing and delivering goods and providing services. Operating activity cash flows include transactions, adjustments, and changes in value that are not defined as investing or financing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Details
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X | ||||||||||
- Definition
The net cash outflow (inflow) from other investing activities. This element is used when there is not a more specific and appropriate element in the taxonomy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The cash outflow to reacquire common stock during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The cash outflow paid to third parties in connection with debt origination, which will be amortized over the remaining maturity period of the associated long-term debt. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The cash outflow associated with the acquisition of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale; includes cash outflows to pay for construction of self-constructed assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The cash outflow for securities or other assets acquired with excess cash, having ready marketability, which qualify for treatment as an investing activity based on management's intention and intended by management to be liquidated, if necessary, within the current operating cycle. Includes cash flows from securities classified as trading securities that were acquired for reasons other than sale in the short-term. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The cash inflow associated with principal collections from a borrowing supported by a written promise to pay an obligation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The cash inflow from the amounts received by the insured under the terms of an insurance contract settlement. This element pertains only to insurance proceeds related to investments, for example fixed assets. It excludes insurance settlements classified as operating cash flows. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The cash inflow from a debt initially having maturity due after one year or beyond the operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The net cash inflow (outflow) from other financing activities. This element is used when there is not a more specific and appropriate element in the taxonomy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The net cash inflow (outflow) for borrowing having initial term of repayment within one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The cash inflow associated with the aggregate amount received by the entity through sale or maturity of marketable securities (trading, held-to-maturity, or available-for-sale) during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The cash inflow from the sale of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The cash inflow associated with the amount received from the stock plan during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The cash outflow for debt initially having maturity due after one year or beyond the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock options, amortization of restricted stock, and adjustment for officers compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Nature of Business
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12 Months Ended |
---|---|
Dec. 31, 2010
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|
Notes to Financial Statements [Abstract] | |
Nature of Business | Transocean Ltd. (together with its subsidiaries and predecessors, unless the context requires otherwise, "Transocean," the "Company," "we," "us" or "our") is a leading international provider of offshore contract drilling services for oil and gas wells. Our mobile offshore drilling fleet is considered one of the most modern and versatile fleets in the world. Specializing in technically demanding sectors of the offshore drilling business with a particular focus on deepwater and harsh environment drilling services, we contract our drilling rigs, related equipment and work crews predominantly on a dayrate basis to drill oil and gas wells. At December 31, 2010, we owned, had partial ownership interests in or operated 139 mobile offshore drilling units. As of this date, our fleet consisted of 47 High-Specification Floaters (Ultra-Deepwater, Deepwater and Harsh Environment semisubmersibles and drillships), 25 Midwater Floaters, 10 High-Specification Jackups, 54 Standard Jackups and three Other Rigs. We also have one Ultra-Deepwater Floater and three High-Specification Jackups under construction (see Note 9-Drilling Fleet and Note 25-Subsequent Events). We also provide oil and gas drilling management services, drilling engineering and drilling project management services, and we participate in oil and gas exploration and production activities. We provide drilling management services through Applied Drilling Technology Inc., our wholly owned subsidiary, and through ADT International, a division of one of our U.K. subsidiaries (together, "ADTI"). ADTI conducts drilling management services primarily on either a dayrate or a completed-project, fixed-price (or "turnkey") basis. Oil and gas properties consist of exploration, development and production activities performed by Challenger Minerals Inc. and Challenger Minerals (North Sea) Limited (together, "CMI"), our oil and gas subsidiaries. In December 2008, Transocean Ltd. completed a transaction pursuant to an Agreement and Plan of Merger among Transocean Ltd., Transocean Inc., which was our former parent holding company, and Transocean Cayman Ltd., a company organized under the laws of the Cayman Islands that was a wholly owned subsidiary of Transocean Ltd., pursuant to which Transocean Inc. merged by way of schemes of arrangement under Cayman Islands law with Transocean Cayman Ltd., with Transocean Inc. as the surviving company (the "Redomestication Transaction"). In the Redomestication Transaction, Transocean Ltd. issued one of its shares in exchange for each ordinary share of Transocean Inc. In addition, Transocean Ltd. issued 16 million of its shares to Transocean Inc. for future use to satisfy Transocean Ltd.'s obligations to deliver shares in connection with awards granted under our incentive plans or other rights to acquire shares of Transocean Ltd. (see Note 16-Shareholders' Equity). The Redomestication Transaction effectively changed the place of incorporation of our parent holding company from the Cayman Islands to Switzerland. As a result of the Redomestication Transaction, Transocean Inc. became a direct, wholly owned subsidiary of Transocean Ltd. In connection with the Redomestication Transaction, we relocated our principal executive offices to Vernier, Switzerland. |
X | ||||||||||
- Details
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X | ||||||||||
- Definition
Describes the nature of an entity's business, the major products or services it sells or provides and its principal markets, including the locations of those markets. If the entity operates in more than one business, the disclosure also indicates the relative importance of its operations in each business and the basis for the determination (for example, assets, revenues, or earnings). Disclosures about the nature of operations need not be quantified; relative importance could be conveyed by use of terms such as "predominately", "about equally", or "major and other". This element is also referred to as "Business Description". Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Significant Accounting Policies
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12 Months Ended |
---|---|
Dec. 31, 2010
|
|
Notes to Financial Statements [Abstract] | |
Significant Accounting Policies | Accounting estimates-The preparation of financial statements in accordance with accounting principles generally accepted in the United States ("U.S.") requires us to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses and the disclosures of contingent assets and liabilities. On an ongoing basis, we evaluate our estimates and assumptions, including those related to our allowance for doubtful accounts, materials and supplies obsolescence, property and equipment, investments, notes receivable, goodwill and other intangible assets, income taxes, share-based compensation, defined benefit pension plans and other postretirement benefits and contingencies. We base our estimates and assumptions on historical experience and on various other factors we believe are reasonable under the circumstances, the results of which form the basis for making judgments about the carrying amounts of assets and liabilities that are not readily apparent from other sources. Actual results could differ from such estimates. Fair value measurements-We estimate fair value at a price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants in the principal market for the asset or liability. Our valuation techniques require inputs that we categorize using a three-level hierarchy, from highest to lowest level of observable inputs, as follows: (1) unadjusted quoted prices for identical assets or liabilities in active markets ("Level 1"), (2) direct or indirect observable inputs, including quoted prices or other market data, for similar assets or liabilities in active markets or identical assets or liabilities in less active markets ("Level 2") and (3) unobservable inputs that require significant judgment for which there is little or no market data ("Level 3"). When multiple input levels are required for a valuation, we categorize the entire fair value measurement according to the lowest level of input that is significant to the measurement even though we may have also utilized significant inputs that are more readily observable. Principles of consolidation-We consolidate entities in which we have a majority voting interest and entities that meet the criteria for variable interest entities for which we are deemed to be the primary beneficiary for accounting purposes. We eliminate intercompany transactions and accounts in consolidation. We apply the equity method of accounting for investments in entities if we have the ability to exercise significant influence over an entity that (a) does not meet the variable interest entity criteria or (b) meets the variable interest entity criteria, but for which we are not deemed to be the primary beneficiary. We apply the cost method of accounting for investments in other entities if we do not have the ability to exercise significant influence over the unconsolidated affiliate. See Note 4-Variable Interest Entities. Our investments in and advances to unconsolidated affiliates, recorded in other assets on our consolidated balance sheets, had carrying amounts of $19 million and $11 million at December 31, 2010 and 2009, respectively. We recognized equity in earnings of unconsolidated affiliates, recorded in other, net, on our consolidated statements of operations, in the amount of $8 million, $2 million and $2 million for the years ended December 31, 2010, 2009 and 2008, respectively. Cash and cash equivalents-Cash equivalents are highly liquid debt instruments with original maturities of three months or less that may include time deposits with commercial banks that have high credit ratings, U.S. Treasury and government securities, Eurodollar time deposits, certificates of deposit and commercial paper. We may also invest excess funds in no-load, open-end, management investment trusts ("management trusts"). The management trusts invest exclusively in high-quality money market instruments. Allowance for doubtful accounts-We establish an allowance for doubtful accounts on a case-by-case basis, considering changes in the financial position of a major customer, when we believe the required payment of specific amounts owed is unlikely to occur. We derive a majority of our revenues from services to international oil companies and government-owned or government-controlled oil companies. We evaluate the credit quality of our customers on an ongoing basis, and we do not generally require collateral or other security to support customer receivables. The allowance for doubtful accounts was $38 million and $65 million at December 31, 2010 and 2009, respectively. Materials and supplies-Materials and supplies are carried at average cost less an allowance for obsolescence. The allowance for obsolescence was $70 million and $66 million at December 31, 2010 and 2009, respectively. Property and equipment-Property and equipment, consisting primarily of offshore drilling rigs and related equipment, represented approximately 58 percent of our total assets at December 31, 2010. The carrying amounts of these assets are based on estimates, assumptions and judgments relative to capitalized costs, useful lives and salvage values of our rigs. These estimates, assumptions and judgments reflect both historical experience and expectations regarding future industry conditions and operations. We compute depreciation using the straight-line method after allowing for salvage values. We capitalize expenditures for renewals, replacements and improvements, and we expense maintenance and repair costs as incurred. Upon sale or other disposition of an asset, we recognize a net gain or loss on disposal of the asset, which is measured as the difference between the net carrying amount of the asset and the net proceeds received. Estimated original useful lives of our drilling units range from 18 to 35 years, buildings and improvements from 10 to 30 years and machinery and equipment from four to 12 years. From time to time, we may review the estimated remaining useful lives of our drilling units, and we may extend the useful life when events and circumstances indicate a drilling unit can operate beyond its remaining useful life. During 2010, we adjusted the useful lives for five rigs, extending the estimated useful lives from between 20 and 36 years to between 25 and 39 years. During 2009, we adjusted the useful lives for 10 rigs, extending the estimated useful lives from between 30 and 35 years to between 33 and 50 years. During 2008, we adjusted the useful lives for five rigs, extending the estimated useful lives from between 30 and 35 years to between 34 and 50 years. We deemed the life extensions appropriate for each of these rigs based on the respective contracts under which the rigs were operating and the additional life-extending work, upgrades and inspections we performed on the rigs. For each of the years ended December 31, 2010, 2009 and 2008, the changes in estimated useful lives of these rigs resulted in a reduction in depreciation expense of $23 million ($0.07 per diluted share), $23 million ($0.07 per diluted share) and $6 million ($0.02 per diluted share), respectively, which had no tax effect for any period. During 2008, we also adjusted the useful lives for four rigs that we acquired through a merger transaction (the "Merger") with GlobalSantaFe Corporation ("GlobalSantaFe"), reducing the estimated useful lives from between eight and 16 years to between three and nine years. We determined the appropriate useful lives for each of these rigs based on our review of technical specifications of the rigs and comparisons to the remaining useful lives of comparable rigs in our fleet. In 2008, the change in estimated useful life of these rigs resulted in an increase in depreciation expense of $46 million ($0.14 per diluted share), which had no tax effect. See Note 9-Drilling Fleet. Assets held for sale-We classify an asset as held for sale when the facts and circumstances meet the criteria for such classification, including the following: (a) we have committed to a plan to sell the asset, (b) the asset is available for immediate sale, (c) we have initiated actions to complete the sale, including locating a buyer, (d) the sale is expected to be completed within one year, (e) the asset is being actively marketed at a price that is reasonable relative to its fair value, and (f) the plan to sell is unlikely to be subject to significant changes or termination. At December 31, 2010, assets held for sale were less than $1 million. At December 31, 2009, we had assets held for sale, included in current assets, in the amount of $186 million. See Note 9-Drilling Fleet and Note 25-Subsequent Events. Long-lived assets and definite-lived intangible assets-We review the carrying amounts of long-lived assets and definite-lived intangible assets, principally property and equipment and a drilling management services customer relationships intangible asset, for potential impairment when events occur or circumstances change that indicate that the carrying value of such assets may not be recoverable. For assets classified as held and used, we determine recoverability by evaluating the undiscounted estimated future net cash flows, based on projected dayrates and utilization, of the asset group under review. We consider our asset groups to be Ultra-Deepwater Floaters, Deepwater Floaters, Harsh Environment Floaters, Midwater Floaters, High-Specification Jackups, Standard Jackups and Other Rigs. When an impairment of one or more of our asset groups is indicated, we measure the impairment as the amount to which the asset group's carrying amount exceeds its fair value. We measure the fair values of our contract drilling asset groups by applying a combination of income and market approaches, using projected discounted cash flows and estimates of the exchange price that would be received for the assets in the principal or most advantageous market for the assets in an orderly transaction between market participants as of the measurement date. For our drilling management services customer relationships asset, we estimate fair value using the excess earnings method, which applies the income approach. For an asset classified as held for sale, we consider the asset to be impaired to the extent its carrying amount exceeds fair value less cost to sell. In the years ended December 31, 2010, 2009 and 2008, respectively, we concluded that our Standard Jackup asset group, customer relationships intangible asset and our assets held for sale were impaired. See Note 5-Impairments and Note 10-Goodwill and Other Intangible Assets. Goodwill and other indefinite-lived intangible assets-We conduct impairment testing for our goodwill and other indefinite-lived intangible assets annually as of October 1 and more frequently, on an interim basis, when an event occurs or circumstances change that may indicate a reduction in the fair value of a reporting unit or the indefinite-lived intangible asset is below its carrying value. We test goodwill at the reporting unit level, which is defined as an operating segment or a component of an operating segment that constitutes a business for which financial information is available and is regularly reviewed by management. We have identified three reporting units for this purpose: (1) contract drilling services, (2) drilling management services and (3) oil and gas properties. We test goodwill for impairment by comparing the carrying amount of the reporting unit, including goodwill, to the fair value of the reporting unit. For our contract drilling services reporting unit, we estimate fair value using projected discounted cash flows, publicly traded company multiples and acquisition multiples. To develop the projected cash flows associated with our contract drilling services reporting unit, which are based on estimated future dayrates and utilization, we consider key factors that include assumptions regarding future commodity prices, credit market conditions and the effect these factors may have on our contract drilling operations and the capital expenditure budgets of our customers. We discount the projected cash flows using a long-term weighted-average cost of capital, which is based on our estimate of the investment returns that market participants would require for each of our reporting units. We derive publicly traded company multiples for companies with operations similar to our reporting units using observable information related to shares traded on stock exchanges and, when available, observable information related to recent acquisitions. If the reporting unit's carrying amount exceeds its fair value, we consider goodwill impaired and perform a second step to measure the amount of the impairment loss, if any. As a result of our annual impairment testing in each of the years ended December 31, 2010 and 2009, we concluded that goodwill was not impaired. As a result of our interim impairment testing in the year ended December 31, 2010, we concluded that the goodwill associated with our oil and gas properties reporting unit was impaired. As a result of our annual impairment testing in the year ended December 31, 2008, we concluded that the goodwill associated with our drilling management services reporting unit was impaired. See Note 5-Impairments and Note 10-Goodwill and Other Intangible Assets. For our trade name intangible asset, which we have identified as indefinite-lived, we estimate fair value using the relief from royalty method, which applies the income approach. As a result of our annual impairment testing in the year ended December 31, 2010, we concluded that the trade name intangible asset for our drilling management services reporting unit was not impaired. As a result of interim impairment testing in the year ended December 31, 2009 and as a result of our annual impairment testing in the year ended December 31, 2008, we concluded that the trade name intangible asset for our drilling management services reporting unit was impaired. See Note 5-Impairments and Note 10-Goodwill and Other Intangible Assets. Contingent liabilities-We establish liabilities for estimated loss contingencies when we believe a loss is probable and the amount of the probable loss can be reasonably estimated. Once established, we adjust the carrying amount of a contingent liability upon the occurrence of a recognizable event when facts and circumstances change, altering our previous assumptions with respect to the likelihood or amount of loss. See Note 14-Commitments and Contingencies. Operating revenues and expenses-We recognize operating revenues as they are earned, based on contractual daily rates or on a fixed-price basis. In connection with drilling contracts, we may receive revenues for preparation and mobilization of equipment and personnel or for capital improvements to rigs. In connection with new drilling contracts, revenues earned and incremental costs incurred directly related to contract preparation and mobilization are deferred and recognized over the primary contract term of the drilling project using the straight-line method. Our policy to amortize the fees related to contract preparation, mobilization and capital upgrades on a straight-line basis over the estimated firm period of drilling is consistent with the general pace of activity, level of services being provided and dayrates being earned over the life of the contract. For contractual daily rate contracts, we account for loss contracts as the losses are incurred. Costs of relocating drilling units without contracts to more promising market areas are expensed as incurred. Upon completion of drilling contracts, any demobilization fees received are reported in income, as are any related expenses. Capital upgrade revenues received are deferred and recognized over the primary contract term of the drilling project. The actual cost incurred for the capital upgrade is depreciated over the estimated useful life of the asset. We incur periodic survey and drydock costs in connection with obtaining regulatory certification to operate our rigs on an ongoing basis. Costs associated with these certifications are deferred and amortized on a straight-line basis over the period until the next survey. Contract drilling intangible revenues-In connection with the Merger, we acquired drilling contracts for future contract drilling services of GlobalSantaFe. The terms of these contracts include fixed dayrates that were above or below the market dayrates available for similar contracts as of the date of the Merger. We recognized the fair value adjustments as contract intangible assets and liabilities, recorded in other assets and other long-term liabilities, respectively. We amortize the resulting contract drilling intangible revenues on a straight-line basis over the respective contract period. During the years ended December 31, 2010, 2009 and 2008, we recognized contract intangible revenues of $98 million, $281 million and $690 million, respectively. See Note 10-Goodwill and Other Intangible Assets. Other revenues-Our other revenues represent those derived from drilling management services, integrated services, oil and gas properties, and customer reimbursable revenues. For fixed-price contracts associated with our drilling management services, we recognize revenues and expenses upon well completion and customer acceptance, and we recognize loss provisions on contracts in progress when losses are anticipated. We refer to integrated services as those services we provide through contractors and our employees under certain contracts that include well and logistics services in addition to our normal drilling services. We consider customer reimbursable revenues to be billings to our customers for reimbursement of certain equipment, materials and supplies, third-party services, employee bonuses and other expenses that we recognize in operating and maintenance expense, the result of which has little or no effect on operating income. Share-based compensation-For time-based awards, we recognize compensation expense on a straight-line basis through the date the employee is no longer required to provide service to earn the award (the "service period"). For market-based awards that vest at the end of the service period, we recognize compensation expense on a straight-line basis through the end of the service period. For performance-based awards with graded vesting conditions, we recognize compensation expense on a straight-line basis over the service period for each separately vesting portion of the award as if the award was, in substance, multiple awards. Share-based compensation expense is recognized, net of a forfeiture rate, estimated at the time of grant based on historical experience and adjusted, if necessary, in subsequent periods based on actual forfeitures. To measure the fair values of time-based restricted shares and deferred units granted or modified, we use the market price of our shares on the grant date or modification date. To measure the fair values of stock options and stock appreciation rights ("SARs") granted or modified, we use the Black-Scholes-Merton option-pricing model and apply assumptions for the expected life, risk-free interest rate, dividend yield and expected volatility. The expected life is based on historical information of past employee behavior regarding exercises and forfeitures of options. The risk-free interest rate is based upon the published U.S. Treasury yield curve in effect at the time of grant or modification for instruments with a similar life. The dividend yield is based on our history and expectation of dividend payouts. The expected volatility is based on a blended rate with an equal weighting of the (a) historical volatility based on historical data for an amount of time approximately equal to the expected life and (b) implied volatility derived from our at-the-money long-dated call options. To measure the fair values of market-based deferred units granted or modified, we use a Monte Carlo simulation model and, in addition to the assumptions applied for the Black-Scholes-Merton option-pricing model, we apply assumptions using a risk neutral model and an average price at the performance start date. The risk neutral model assumes that all peer group stocks grow at the risk-free rate. The average price at the performance start date is based on the average stock price for the preceding 30 trading days. We recognize share-based compensation expense in the same financial statement line item as cash compensation paid to the respective employees. Tax deduction benefits for awards in excess of recognized compensation costs are reported as a financing cash flow. Share-based compensation expense was $102 million, $81 million and $64 million in the years ended December 31, 2010, 2009 and 2008, respectively. Income tax benefit on share-based compensation expense was $10 million, $8 million, and $8 million in the years ended December 31, 2010, 2009 and 2008, respectively. See Note 17-Share-Based Compensation Plans. Pension and other postretirement benefits-We use a measurement date of January 1 for determining net periodic benefit costs and December 31 for determining benefit obligations and the fair value of plan assets. We determine our net periodic benefit costs based on a market-related valuation of assets that reduces year-to-year volatility by recognizing investment gains or losses over a five-year period from the year in which they occur. Investment gains or losses for this purpose are measured as the difference between the expected return calculated using the market-related value of assets and the actual return based on the market-related value of assets. The obligations and related costs for our defined benefit pension and other postretirement benefit plans, retiree life insurance and medical benefits, are actuarially determined by applying assumptions, including long-term rate of return on plan assets, discount rates, compensation increases, employee turnover rates and health care cost trend rates. The two most critical assumptions are the long-term rate of return on plan assets and the discount rate. For the long-term rate of return, we develop our assumptions regarding the expected rate of return on plan assets based on historical experience and projected long-term investment returns, which are weighted to consider each plan's target asset allocation. For the discount rate, we base our assumptions on a yield curve approach using Aa-rated corporate bonds and the expected timing of future benefit payments. For the projected compensation trend rate, we consider short-term and long-term compensation expectations for participants, including salary increases and performance bonus payments. For the health care cost trend rate for other postretirement benefits, we establish our assumptions for health care cost trends, applying an initial trend rate that reflects both our recent historical experience and broader national statistics with an ultimate trend rate that assumes that the portion of gross domestic product devoted to health care eventually becomes constant. Pension and other postretirement benefit plan obligations represented an aggregate liability in the amount of their net underfunded status of $469 million and $514 million, at December 31, 2010 and 2009, respectively. Net periodic benefit costs were $91 million, $87 million and $47 million for the years ended December 31, 2010, 2009 and 2008, respectively. See Note 13-Postemployment Benefit Plans. Capitalized interest-We capitalize interest costs for qualifying construction and upgrade projects. We capitalized interest costs on construction work in progress of $89 million, $182 million and 147 million for the years ended December 31, 2010, 2009 and 2008, respectively. Derivatives and hedging-From time to time, we may enter into a variety of derivative financial instruments in connection with the management of our exposure to variability in foreign exchange rates and interest rates. We record derivatives on our consolidated balance sheet, measured at fair value. For derivatives that do not qualify for hedge accounting, we recognize the gains and losses associated with changes in the fair value in current period earnings. See Note 12-Derivatives and Hedging and Note 20-Financial Instruments and Risk Concentration. We may enter into cash flow hedges to manage our exposure to variability of the expected future cash flows of recognized assets or liabilities or of unrecognized forecasted transactions. For a derivative that is designated and qualifies as a cash flow hedge, we initially recognize the effective portion of the gains or losses in other comprehensive income and subsequently recognize the gains and losses in earnings in the period in which the hedged forecasted transaction affects earnings. We recognize the gains and losses associated with the ineffective portion of the hedges in interest expense in the period in which they are realized. We may enter into fair value hedges to manage our exposure to changes in fair value of recognized assets or liabilities, such as fixed-rate debt, or of unrecognized firm commitments. For a derivative that is designated and qualifies as a fair value hedge, we simultaneously recognize in current period earnings the gains or losses on the derivative along with the offsetting losses or gains on the hedged item attributable to the hedged risk. The resulting ineffective portion, which is measured as the difference between the change in fair value of the derivative and the hedged item, is recognized in current period earnings. Foreign currency-The majority of our revenues and expenditures are denominated in U.S. dollars to limit our exposure to foreign currency fluctuations, resulting in the use of the U.S. dollar as the functional currency for all of our operations. Foreign currency exchange gains and losses are primarily included in other income (expense) as incurred. We had a net foreign currency exchange gain of less than $1 million for the year ended December 31, 2010. We had net foreign currency exchange losses of $34 million and $3 million for the years ended December 31, 2009 and 2008, respectively. Income taxes-We provide for income taxes based upon the tax laws and rates in effect in the countries in which operations are conducted and income is earned. There is little or no expected relationship between the provision for or benefit from income taxes and income or loss before income taxes because the countries in which we operate have taxation regimes that vary not only with respect to nominal rate, but also in terms of the availability of deductions, credits and other benefits. Variations also arise because income earned and taxed in any particular country or countries may fluctuate from year to year. We recognize deferred tax assets and liabilities for the anticipated future tax effects of temporary differences between the financial statement basis and the tax basis of our assets and liabilities using the applicable jurisdictional tax rates in effect at year end. We record a valuation allowance for deferred tax assets when it is more likely than not that some or all of the benefit from the deferred tax asset will not be realized. We provide a valuation allowance to offset deferred tax assets for net operating losses ("NOL") incurred during the year in certain jurisdictions and for other deferred tax assets where, in our opinion, it is more likely than not that the financial statement benefit of these losses will not be realized. We provide a valuation allowance for foreign tax credit carryforwards to reflect the possible expiration of these benefits prior to their utilization. We maintain liabilities for estimated tax exposures in our jurisdictions of operation, and the provisions and benefits resulting from changes to those liabilities are included in our annual tax provision along with related interest and penalties. Tax exposure items include potential challenges to permanent establishment positions, intercompany pricing, disposition transactions, and withholding tax rates and their applicability. These exposures are resolved primarily through the settlement of audits within these tax jurisdictions or by judicial means, but can also be affected by changes in applicable tax law or other factors, which could cause us to revise past estimates. See Note 6-Income Taxes. Reclassifications-We have made certain reclassifications to prior period amounts to conform with the current year's presentation. These reclassifications did not have a material effect on our consolidated statement of financial position, results of operations or cash flows. Subsequent events-We evaluate subsequent events through the time of our filing on the date we issue our financial statements. See Note 25-Subsequent Events. |
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This element may be used to describe all significant accounting policies of the reporting entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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New Accounting Pronouncements
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Dec. 31, 2010
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Notes to Financial Statements [Abstract] | |
New Accounting Pronouncements | Recently Adopted Accounting Standards Consolidation-Effective January 1, 2010, we adopted the accounting standards update that requires enhanced transparency of our involvement with variable interest entities, which (a) amends certain guidance for determining whether an enterprise is a variable interest entity, (b) requires a qualitative rather than a quantitative analysis to determine the primary beneficiary, and (c) requires continuous assessments of whether an enterprise is the primary beneficiary of a variable interest entity. We evaluated these requirements, particularly with regard to our interests in Transocean Pacific Drilling Inc. ("TPDI") and Angola Deepwater Drilling Company Limited ("ADDCL") and our adoption did not have a material effect on our consolidated statement of financial position, results of operations or cash flows. See Note 4-Variable Interest Entities. Fair value measurements and disclosures-Effective January 1, 2010, we adopted the effective provisions of the accounting standards update that clarifies existing disclosure requirements and introduces additional disclosure requirements for fair value measurements. The update requires entities to disclose the amounts of and reasons for significant transfers between Level 1 and Level 2, the reasons for any transfers into or out of Level 3, and information about recurring Level 3 measurements of purchases, sales, issuances and settlements on a gross basis. The update also clarifies that entities must provide (a) fair value measurement disclosures for each class of assets and liabilities and (b) information about both the valuation techniques and inputs used in estimating Level 2 and Level 3 fair value measurements. We have applied the effective provisions of this accounting standards update in preparing the disclosures in our notes to consolidated financial statements and our adoption did not have a material effect on such disclosures. See Note 2-Significant Accounting Policies. Subsequent events-Effective for financial statements issued after February 2010, we adopted the accounting standards update regarding subsequent events, which clarifies that U.S. Securities and Exchange Commission ("SEC") filers are not required to disclose the date through which management evaluated subsequent events in the financial statements. Our adoption did not have a material effect on the disclosures contained within our notes to consolidated financial statements. See Note 2-Significant Accounting Policies. Recently Issued Accounting Standards Fair value measurements and disclosures-Effective January 1, 2011, we will adopt the remaining provisions of the accounting standards update that clarifies existing disclosure requirements and introduces additional disclosure requirements for fair value measurements. The update requires entities to separately disclose information about purchases, sales, issuances, and settlements in the reconciliation of recurring Level 3 measurements on a gross basis. The update is effective for interim and annual periods beginning after December 15, 2010. We do not expect that our adoption will have a material effect on the disclosures contained in our notes to consolidated financial statements. |
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Represents disclosure of any changes in an accounting principle, including a change from one generally accepted accounting principle to another generally accepted accounting principle when there are two or more generally accepted accounting principles that apply or when the accounting principle formerly used is no longer generally accepted. Also disclose any change in the method of applying an accounting principle, or any change in an accounting principle required by a new pronouncement in the unusual instance that a new pronouncement does not include specific transition provisions. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Variable Interest Entities
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Variable Interest Entities | Consolidated variable interest entities-TPDI and ADDCL, joint venture companies in which we hold interests, were formed to own and operate certain ultra-deepwater drillships. We have determined that each of these joint venture companies meets the criteria of a variable interest entity for accounting purposes because their equity at risk is insufficient to permit them to carry on their activities without additional subordinated financial support from us. We have also determined, in each case, that we are the primary beneficiary for accounting purposes since (a) we have the power to direct the construction, marketing and operating activities, which are the activities that most significantly impact each entity's economic performance, and (b) we have the obligation to absorb a majority of the losses or the right to receive a majority of the benefits that could be potentially significant to the variable interest entity. As a result, we consolidate TPDI and ADDCL in our consolidated financial statements, we eliminate intercompany transactions, and we present the interests that are not owned by us as noncontrolling interest on our consolidated balance sheets. The carrying amounts associated with these joint venture companies, after eliminating the effect of intercompany transactions, were as follows (in millions):
At December 31, 2010 and 2009, the aggregate carrying amount of assets of our consolidated variable interest entities that were pledged as security for the outstanding debt of our consolidated variable interest entities was $2,191 million and $1,975 million, respectively. See Note 11-Debt. Pacific Drilling Limited ("Pacific Drilling"), a Liberian company, owns the 50 percent interest in TPDI that is not owned by us, and we present its interest in TPDI as noncontrolling interest on our consolidated balance sheets. Beginning on October 18, 2010, Pacific Drilling had the unilateral right to exchange its interest in TPDI for our shares or cash, at its election, at an amount based on an appraisal of the fair value of the drillships, subject to certain adjustments. Accordingly, when this option became exercisable, we reclassified the carrying amount of Pacific Drilling's interest from permanent equity to temporary equity, located between liabilities and equity on our consolidated balance sheets, since the event that gives rise to a potential redemption of the noncontrolling interest is not within our control. See Note 15-Redeemable Noncontrolling Interest. Unconsolidated variable interest entities-In January 2010, we completed the sale of two Midwater Floaters, GSF Arctic II and GSF Arctic IV, to subsidiaries of Awilco Drilling Limited ("ADL"), a U.K. company (see Note 9-Drilling Fleet). We have determined that ADL meets the criteria of a variable interest entity for accounting purposes because its equity at risk is insufficient to permit it to carry on its activities without additional subordinated financial support. We have also determined that we are not the primary beneficiary for accounting purposes since, although we hold a significant financial interest in the variable interest entity and have the obligation to absorb losses or receive benefits that could be potentially significant to the variable interest entity, we do not have the power to direct the marketing and operating activities, which are the activities that most significantly impact the entity's economic performance. In connection with the sale, we received net cash proceeds of $38 million and non-cash proceeds in the form of two notes receivable in the aggregate amount of $165 million. The notes receivable, which are secured by the drilling units, have stated interest rates of 9 percent and are payable in scheduled quarterly installments of principal and interest through maturity in January 2015 (see Note 19-Fair Values of Financial Instruments). We have also committed to provide ADL with a working capital loan, which is also secured by the drilling units, with a maximum borrowing amount of $35 million. Additionally, we operated GSF Arctic IV under a short-term bareboat charter with ADL, until November 2010. We evaluate the credit quality and financial condition of ADL quarterly. At December 31, 2010, the notes receivable and working capital loan receivable had no amounts past due and had aggregate carrying amounts of $109 million and $6 million, respectively. |
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Disclosure of variable interest entities (VIE), including, but not limited to the nature, purpose, size, and activities of the VIE, the carrying amount and classification of consolidated assets that are collateral for the VIE's obligations, lack of recourse if creditors (or beneficial interest holders) of a consolidated VIE have no recourse to the general credit of the primary beneficiary. An enterprise that holds a significant variable interest in a VIE but is not the primary beneficiary may disclose the nature of its involvement with the VIE and when that involvement began, the nature, purpose, size, and activities of the VIE and the enterprise's maximum exposure to loss as a result of its involvement with the VIE. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Impairments
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Dec. 31, 2010
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Notes to Financial Statements [Abstract] | |
Impairments | Long-lived assets-During the year ended December 31, 2010, we determined that the Standard Jackup asset group in our contract drilling services reporting unit was impaired due to projected declines in dayrates and utilization. We measured the fair value of this asset group by applying a combination of income and market approaches, using projected discounted cash flows and estimates of the exchange price that would be received for the assets in the principal or most advantageous market for the assets in an orderly transaction between market participants as of the measurement date. Our valuation utilized the projection of the future performance of the asset group based on unobservable inputs that require significant judgment for which there is little or no market data, including assumptions regarding long-term projections for future revenues and costs, dayrates, rig utilization and idle time. As a result, we determined that the carrying amount of the Standard Jackup asset group exceeded its fair value, and we recognized a loss on impairment of long-lived assets in the amount of $1.0 billion ($3.15 per diluted share), which had no tax effect, during the year ended December 31, 2010. Goodwill and other indefinite-lived intangible assets-As a result of interim impairment testing in the year ended December 31, 2010, we determined that the goodwill associated with our oil and gas properties reporting unit was impaired. Accordingly, we recognized a loss on impairment of the full carrying amount of the goodwill associated with the reporting unit in the amount of $2 million ($0.01 per diluted share), which had no tax effect. As a result of our annual impairment testing in the year ended December 31, 2008, we determined that the goodwill associated with our drilling management services reporting unit was impaired. Accordingly, we recognized a loss on impairment of the full carrying amount of goodwill associated with this reporting unit in the amount of $176 million ($0.55 per diluted share), which had no tax effect. During the years ended December 31, 2009 and 2008, we determined that the trade name intangible asset associated with our drilling management services reporting unit was impaired due to market conditions resulting from the global economic downturn and continued pressure on commodity prices. We estimated the fair value of the trade name intangible asset using the relief from royalty method, a valuation methodology that applies the income approach. Our valuation required us to project the future performance of the drilling management services reporting unit based on unobservable inputs that require significant judgment for which there is little or no market data, including assumptions for future commodity prices, projected demand for our services, rig availability and dayrates. As a result of our evaluations in each of the years ended December 31, 2009 and 2008, we determined that the carrying amount of the trade name intangible asset exceeded its fair value, and we recognized a loss on impairment of $6 million ($0.02 per diluted share, which had no tax effect) and $31 million ($20 million or $0.06 per diluted share, net of tax), respectively. The carrying amount of the trade name intangible asset, recorded in other assets on our consolidated balance sheets, was $39 million at both December 31, 2010 and December 31, 2009. Definite-lived intangible assets-During the years ended December 31, 2009 and 2008, we determined that the customer relationships intangible asset associated with our drilling management services reporting unit was impaired due to market conditions resulting from the global economic downturn and continued pressure on commodity prices. We estimated the fair value of the customer relationships intangible asset using the multiperiod excess earnings method, a valuation methodology that applies the income approach. Our valuation required us to project the future performance of the drilling management services reporting unit based on unobservable inputs that require significant judgment for which there is little or no market data, including assumptions for future commodity prices, projected demand for our services, rig availability and dayrates. As a result of our evaluations in each of the years ended December 31, 2009 and 2008, we determined that the carrying amount of the customer relationships intangible asset exceeded its fair value and recognized a loss on impairment of $49 million ($0.15 per diluted share, which had no tax effect) and $16 million ($11 million or $0.04 per diluted share, net of tax), respectively. There was no impairment for the year ended December 31, 2010. The carrying amount of the customer relationships intangible asset, recorded in other assets on our consolidated balance sheets was $59 million and $64 million at December 31, 2010 and 2009, respectively. Assets held for sale-During the years ended December 31, 2009 and 2008, we determined that GSF Arctic II and GSF Arctic IV, both classified as assets held for sale, were impaired due to the global economic downturn and pressure on commodity prices, both of which had an adverse effect on our industry. We estimated the fair values of these rigs based on an exchange price that would be received for the assets in the principal or most advantageous market for the assets in an orderly transaction between market participants as of the measurement date and considering our undertakings to the Office of Fair Trading in the U.K. ("OFT") that required the sale of the rigs with certain limitations and in a limited amount of time. We based our estimates on unobservable inputs that require significant judgment, for which there is little or no market data, including non-binding price quotes from unaffiliated parties, considering the then-current market conditions and restrictions imposed by the OFT. For each of the years ended December 31, 2009 and 2008, as a result of our evaluation, we recognized a loss on impairment of $279 million ($0.87 per diluted share) and $97 million ($0.30 per diluted share), respectively, which had no tax effect. The carrying amount of assets held for sale was $186 million at December 31, 2009, and these assets were sold in the year ended December 31, 2010. See Note 9-Drilling Fleet. |
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Disclosure of details related to asset impairment charges. This disclosure includes impairments on property and equipment, assets held for sale, goodwill and other intangible assets. No definition available.
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Income Taxes
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Income Taxes | Tax Provision-Transocean Ltd., a holding company and Swiss resident, is exempt from cantonal and communal income tax in Switzerland, but is subject to Swiss federal income tax. At the federal level, qualifying net dividend income and net capital gains on the sale of qualifying investments in subsidiaries are exempt from Swiss federal income tax. Consequently, Transocean Ltd. expects dividends from its subsidiaries and capital gains from sales of investments in its subsidiaries to be exempt from Swiss federal income tax. We conduct operations through our various subsidiaries in a number of countries throughout the world, all of which have taxation regimes with varying nominal rates, deductions, credits and other tax attributes. Our provision for income taxes is based on the tax laws and rates applicable in the jurisdictions in which we operate and earn income. There is little to no expected relationship between the provision for or benefit from income taxes and income or loss before income taxes considering, among other factors, (a) changes in the blend of income that is taxed based on gross revenues versus income before taxes, (b) rig movements between taxing jurisdictions and (c) our rig operating structures. The components of our provision (benefit) for income taxes were as follows (in millions):
We are subject to changes in tax laws, treaties and regulations in and between the countries in which we operate, or in which we are incorporated or resident. A material change in these tax laws, treaties or regulations could result in a higher or lower effective tax rate on our worldwide earnings. A reconciliation of the differences between our income tax expense computed at the Swiss holding company statutory rate of 7.83 percent and our reported provision for income taxes for the years ended December 31, 2010 and 2009, was as follows (in millions):
For the year ended December 31, 2008, our parent holding company was a Cayman Islands company and our earnings were not subject to income tax in the Cayman Islands because the country does not levy tax on corporate income. As a result, we have not presented a reconciliation of the differences between the income tax provision computed at the statutory rate and the reported provision for income taxes for this period. The significant components of our deferred tax assets and liabilities were as follows (in millions):
Our deferred tax assets include U.S. foreign tax credit carryforwards of $29 million, which will expire between 2015 and 2020. Deferred tax assets related to our NOLs were generated in various worldwide tax jurisdictions. The tax effect of our Brazilian NOLs, which do not expire, was $53 million and $59 million at December 31, 2010 and 2009, respectively. On December 31, 2009, our unrecognized U.S. capital loss carryforward expired. We did not recognize a deferred tax asset for the capital loss carryforward, as it was not probable that we would realize the benefit of this tax attribute. Our operations do not normally generate capital gain income, which is the only type of income that may be offset by capital losses. Certain activities related to the TODCO tax sharing agreement also serve to increase or decrease the capital loss carryforward. For the year ended December 31, 2010, the valuation allowance against our non-current deferred tax assets did not change significantly. For the year ended December 31, 2009, the valuation allowance against our non-current deferred tax assets increased from $52 million to $98 million, resulting primarily from reassessments of valuation allowances, as well as the corresponding NOLs associated with our Brazil operations. Our deferred tax liabilities include taxes related to the earnings of certain subsidiaries that are not permanently reinvested or that will not be permanently reinvested in the future. Should our expectations change regarding future tax consequences, we may be required to record additional deferred taxes that could have a material adverse effect on our consolidated statement of financial position, results of operations or cash flows. We consider the earnings of certain of our subsidiaries to be indefinitely reinvested. As such, we have not provided for taxes on these unremitted earnings. Should we make a distribution from the unremitted earnings of these subsidiaries, we would be subject to taxes payable to various jurisdictions. At December 31, 2010, the amount of indefinitely reinvested earnings was approximately $2.0 billion. If all of these indefinitely reinvested earnings were distributed, we would be subject to estimated taxes of $150 million to $200 million. Tax returns-We file federal and local tax returns in several jurisdictions throughout the world. With few exceptions, we are no longer subject to examinations of our U.S. and non-U.S. tax matters for years prior to 1999. For the years ended December 31, 2010 and December 31, 2009, the amount of current tax benefit recognized from the settlement of disputes with tax authorities and from the expiration of statutes of limitations was insignificant. Our tax returns in the other major jurisdictions in which we operate are generally subject to examination for periods ranging from three to six years. We have agreed to extensions beyond the general examination periods in four major jurisdictions for up to 16 years. Tax authorities in certain jurisdictions are examining our tax returns and in some cases have issued assessments. We are defending our tax positions in those jurisdictions. While we cannot predict or provide assurance as to the final outcome of these proceedings, we do not expect the ultimate liability to have a material adverse effect on our consolidated statement of financial position, or results of operations, although it may have a material adverse effect on our consolidated cash flows. The following is a reconciliation of our unrecognized tax benefits, excluding interest and penalties (in millions):
The liabilities related to our unrecognized tax benefits, including related interest and penalties that we recognize as a component of income tax expense, were as follows (in millions):
For the years ended December 31, 2010, 2009 and 2008, we recognized interest and penalties related to our unrecognized tax benefits, recorded as a component of income tax expense, in the amount of $35 million, $51 million and $24 million, respectively. If recognized, $693 million of our unrecognized tax benefits, including interest and penalties, as of December 31, 2010, would favorably impact our effective tax rate. It is reasonably possible that our existing liabilities for unrecognized tax benefits may increase or decrease in the year ending December 31, 2011 primarily due to the progression of open audits or the expiration of statutes of limitation. However, we cannot reasonably estimate a range of potential changes in our existing liabilities for unrecognized tax benefits due to various uncertainties, such as the unresolved nature of various audits. Tax positions-With respect to our 2004 and 2005 U.S. federal income tax returns, the U.S. tax authorities have withdrawn all of their previously proposed tax adjustments, except a claim regarding transfer pricing for certain charters of drilling rigs between our subsidiaries, resulting in a total proposed adjustment of approximately $79 million, excluding interest. We believe an unfavorable outcome on this assessment with respect to 2004 and 2005 activities would not result in a material adverse effect on our consolidated statement of financial position, results of operations or cash flows. Although we believe the transfer pricing for these charters is materially correct, we have been unable to reach a resolution with the tax authorities. In August 2010, we filed a petition with the U.S. Tax Court to resolve this issue. In May 2010, we received an assessment from the U.S. tax authorities related to our 2006 and 2007 U.S. federal income tax returns. In July 2010, we filed a protest letter with the U.S. tax authorities covering this assessment. The significant issues raised in the assessment relate to transfer pricing for certain charters of drilling rigs between our subsidiaries and the creation of intangible assets resulting from the performance of engineering services between our subsidiaries. These two items would result in net adjustments of approximately $278 million of additional taxes, excluding interest. An unfavorable outcome on these adjustments could result in a material adverse effect on our consolidated statement of financial position, results of operations or cash flows. We believe our returns are materially correct as filed, and we intend to continue to vigorously defend against all such claims. In addition, the May 2010 assessment included adjustments related to a series of restructuring transactions that occurred between 2001 and 2004. These restructuring transactions impacted our basis in our former subsidiary TODCO, which we disposed of in 2004 and 2005. The authorities are disputing the amount of capital losses that resulted from the disposition of TODCO. We utilized a portion of the capital losses to offset capital gains on our 2006, 2007, 2008 and 2009 tax returns. The majority of the capital losses were unutilized and expired on December 31, 2009. The adjustments would also impact the amount of certain net operating losses and other carryovers into 2006 and later years. The authorities are also contesting the characterization of certain amounts of income received in 2006 and 2007 as capital gain and thus the availability of the capital gain for offset by the capital loss. These claims with respect to our U.S. federal income tax returns for 2006 through 2009 could result in net tax adjustments of approximately $295 million. An unfavorable outcome on these potential adjustments could result in a material adverse effect on our consolidated statement of financial position, results of operations or cash flows. We believe that our tax returns are materially correct as filed, and we intend to vigorously defend against any potential claims. The May 2010 assessment also included certain claims with respect to withholding taxes and certain other items resulting in net tax adjustments of approximately $166 million, exclusive of interest. In addition, the tax authorities assessed penalties associated with the various tax adjustments in the aggregate amount of approximately $92 million, exclusive of interest. We believe that our tax returns are materially correct as filed, and we intend to vigorously defend against any potential claims. Norwegian civil tax and criminal authorities are investigating various transactions undertaken by our subsidiaries in 2001 and 2002 as well as the actions of certain of our former external advisors on these transactions. The authorities issued tax assessments of (a) approximately $268 million plus interest, related to certain restructuring transactions, (b) approximately $117 million plus interest, related to the migration of a subsidiary that was previously subject to tax in Norway, (c) approximately $71 million plus interest, related to a 2001 dividend payment and (d) approximately $7 million plus interest, related to certain foreign exchange deductions and dividend withholding tax. We have filed or expect to file appeals to these tax assessments. We may be required to provide some form of financial security, in an amount up to $1.0 billion, including interest and penalties, for these assessed amounts as this dispute is appealed and addressed by the Norwegian courts. The authorities have indicated that they plan to seek penalties of 60 percent on all matters. For these matters, we believe our returns are materially correct as filed, and we have and will continue to respond to all information requests from the Norwegian authorities. We intend to vigorously contest any assertions by the Norwegian authorities in connection with the various transactions being investigated. An unfavorable outcome on these Norwegian civil tax matters could result in a material adverse effect on our consolidated statement of financial position, results of operations or cash flows. While we cannot predict or provide assurance as to the final outcome of these proceedings, we do not expect the ultimate resolution of these matters to have a material adverse effect on our consolidated statement of financial position or results of operations, although it may have a material adverse effect on our consolidated cash flows. The Norwegian authorities issued notification of criminal charges against Transocean Ltd. and certain of its subsidiaries related to disclosures included in one of our Norwegian tax returns. This notification, however, does not itself constitute an indictment under Norwegian law nor does it initiate legal proceedings but represents a formal expression of suspicion and continued investigation. All income taxes, interest charges and penalties related to this Norwegian tax return have previously been settled. We believe that these charges are without merit and plan to vigorously defend Transocean Ltd. and its subsidiaries to the fullest extent. Certain of our Brazilian income tax returns for the years 2000 through 2004 are currently under examination. The Brazilian tax authorities have issued tax assessments totaling $115 million, plus a 75 percent penalty of $86 million and $138 million of interest through December 31, 2010. An unfavorable outcome on these proposed assessments could result in a material adverse effect on our consolidated statement of financial position, results of operations or cash flows. We believe our returns are materially correct as filed, and we are vigorously contesting these assessments. On January 25, 2008, we filed a protest letter with the Brazilian tax authorities, and we are currently engaged in the appeals process. |
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Description containing the entire income tax disclosure. Examples include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. This element may be used as a single block of text to encapsulate the entire disclosure including data and tables. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Earnings Per Share
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Dec. 31, 2010
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Notes to Financial Statements [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Earnings Per Share | The reconciliation of the numerator and denominator used for the computation of basic and diluted earnings per share is as follows (in millions, except per share data):
For the years ended December 31, 2010, 2009 and 2008 we have excluded 2.2 million, 1.7 million and 0.4 million share-based awards, respectively, from the calculation since the effect would have been anti-dilutive. The 1.625% Series A Convertible Senior Notes, 1.50% Series B Convertible Senior Notes and 1.50% Series C Convertible Senior Notes did not have an effect on the calculation for the periods presented. See Note 11-Debt. |
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Other Comprehensive Income
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Dec. 31, 2010
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Notes to Financial Statements [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Comprehensive Income | The allocation of other comprehensive income (loss) attributable to controlling interest and to noncontrolling interest was as follows (in millions):
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The components of accumulated other comprehensive income (loss), net of tax, were as follows (in millions):
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This label may include the following: 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income. Components of comprehensive income include: (1) foreign currency translation adjustments; (2) gains and losses on foreign currency transactions that are designated as, and are effective as, economic hedges of a net investment in a foreign entity; (3) gains and losses on intercompany foreign currency transactions that are of a long-term-investment nature, when the entities to the transaction are consolidated, combined, or accounted for by the equity method in the reporting enterprise's financial statements; (4) change in the market value of a futures contract that qualifies as a hedge of an asset reported at fair value; (5) unrealized holding gains and losses on available-for-sale securities and that resulting from transfers of debt securities from the held-to-maturity category to the available-for-sale category; (6) a net loss recognized as an additional pension liability not yet recognized as net periodic pension cost; and (7) the net gain or loss and net prior service cost or credit for pension plans and other postretirement benefit plans. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Drilling Fleet
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Dec. 31, 2010
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Drilling Fleet | Expansion-Construction work in progress, recorded in property and equipment, was $1.5 billion and $3.7 billion at December 31, 2010 and 2009, respectively. The following table presents actual capital expenditures and other capital additions, including capitalized interest, for our remaining major construction projects for the three years ended December 31, 2010 (in millions):
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In March 2010, we acquired GSF Explorer, an asset formerly held under capital lease, in exchange for a cash payment in the amount of $15 million, terminating the capital lease obligation. See Note 11-Debt. Dispositions-During the year ended December 31, 2010, we completed the sale of two Midwater Floaters, GSF Arctic II and GSF Arctic IV. In connection with the sale, we received net cash proceeds of $38 million and non-cash proceeds in the form of two notes receivable in the aggregate amount of $165 million (see Note 4-Variable Interest Entities and Note 19-Fair Values of Financial Instruments). We operated GSF Arctic IV under a short-term bareboat charter with the new owner of the vessel, until November 2010. As a result of the sale, we recognized a loss on disposal of assets in the amount of $15 million ($0.04 per diluted share), which had no tax effect for the year ended December 31, 2010. For the year ended December 31, 2010, we recognized a gain on disposal of other unrelated assets in the amount of $5 million. In December 2010, we entered into an agreement to sell our Standard Jackup Transocean Mercury and related equipment. As of December 31, 2010, Transocean Mercury had a net carrying amount of less than $1 million, recorded in assets held for sale on our consolidated balance sheet. See Note 25-Subsequent Events. During the year ended December 31, 2009, we received net proceeds of $10 million in connection with our sale of Sedco 135-D and disposals of other unrelated property and equipment, and these disposals had no net effect on income taxes or net income. In addition, we received net proceeds of $4 million in exchange for our 45 percent ownership interest in Caspian Drilling Company Limited, which operates Dada Gorgud and Istigal under long-term bareboat charters with the owner of the rigs and $38 million in exchange for our interest in Arab Drilling & Workover Company. During the year ended December 31, 2009, we recognized a loss on disposal of assets of $9 million, which had no tax effect. During the year ended December 31, 2008, we completed the sale of three Standard Jackups, GSF High Island VIII, GSF Adriatic III and GSF High Island I. We received cash proceeds of $320 million associated with the sales, which had no effect on earnings. Deepwater Horizon-On April 22, 2010, the Ultra-Deepwater Floater Deepwater Horizon sank after a blowout of the Macondo well caused a fire and explosion on the rig. The rig's insured value was $560 million, which was not subject to a deductible, and our insurance underwriters declared the vessel a total loss. During the year ended December 31, 2010, we received $560 million in cash proceeds from insurance recoveries related to the loss of the drilling unit and, for the year ended December 31, 2010, we recognized a gain on the loss of the rig in the amount of $267 million ($0.83 per diluted share), which had no tax effect. See Note 14-Commitments and Contingencies. |
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Disclosure of all information related to any significant acquisition and disposal. Disclosure may include methodology and assumptions, type of asset, asset classification, useful life, useful purpose, acquisition cost, method of acquisition or disposal, depreciation method, gain or loss on disposal pretax and net of tax, date of acquisition or disposal and restrictions on amount of proceeds from donated assets. No definition available.
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Notes to Financial Statements [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Goodwill And Intangible Assets | Goodwill and other indefinite-lived intangible assets-The gross carrying amounts of goodwill and accumulated impairment were as follows (in millions):
The gross carrying amounts of the ADTI trade name, which we consider to be an indefinite-lived intangible asset, and accumulated impairment were as follows (in millions):
Definite-lived intangible assets-The gross carrying amounts of our drilling contract intangibles and drilling management customer relationships, both of which we consider to be definite-lived intangible assets and intangible liabilities, and accumulated amortization and impairment were as follows (in millions):
We amortize the drilling contract intangibles over the term of the respective drilling contracts using the straight-line method of amortization, recognized in contract intangible revenues on our consolidated statements of operations. We amortize the customer relationships intangible asset over its 15-year life using the straight-line method of amortization, recognized in operating and maintenance expense on our consolidated statements of operations. The estimated net future amortization related to intangible assets and liabilities as of December 31, 2010, was as follows (in millions):
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Discloses the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain or loss on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss. This element may be used as a single block of text to include the entire intangible asset disclosure including data and tables. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Debt | Debt, net of unamortized discounts, premiums and fair value adjustments, was comprised of the following (in millions):
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Scheduled maturities-In preparing the scheduled maturities of our debt, we assume the noteholders will exercise their options to require us to repurchase the 1.50% Series B Convertible Senior Notes and 1.50% Series C Convertible Senior Notes in December 2011 and 2012, respectively. At December 31, 2010, the scheduled maturities of our debt were as follows (in millions):
ODL Loan Facility-We have a $10 million loan facility with Overseas Drilling Limited ("ODL") under a loan agreement dated December 2009, as amended (the "ODL Loan Facility"). ODL may demand repayment of the borrowings under the loan facility at any time upon written notice, five business days in advance. Any amounts due to us from ODL may be offset against the borrowings at the time of repayment. As of December 31, 2010 and 2009, $10 million was outstanding under the ODL Loan Facility. Commercial paper program-We maintain a commercial paper program (the "Program"), which is supported by the Five-Year Revolving Credit Facility, under which we may issue privately placed, unsecured commercial paper notes for general corporate purposes up to a maximum aggregate outstanding amount of $1.5 billion. Proceeds from commercial paper issuance under the Program may be used for general corporate purposes. At December 31, 2010, $88 million in commercial paper was outstanding at a weighted-average interest rate of 1.0 percent, including commissions. 6.625% Notes and 7.5% Notes-In April 2001, Transocean Inc. issued $700 million aggregate principal amount of 6.625% Notes due April 2011 and $600 million aggregate principal amount of 7.5% Notes due April 2031. The indenture pursuant to which the notes were issued contains restrictions on creating liens, engaging in sale/leaseback transactions and engaging in merger, consolidation or reorganization transactions. At December 31, 2010, $166 million and $600 million principal amount of the 6.625% Notes and 7.5% Notes, respectively, were outstanding. Five-Year Revolving Credit Facility-We have a $2.0 billion, five-year revolving credit facility under the Five-Year Revolving Credit Facility Agreement dated November 27, 2007, as amended ("Five-Year Revolving Credit Facility"). We may borrow under the Five-Year Revolving Credit Facility at either (1) the adjusted London Interbank Offered Rate ("LIBOR") plus a margin (the "Five-Year Revolving Credit Facility Margin") based on our Debt Rating (based on our current Debt Rating, a margin of 1.325 percent) or (2) the Base Rate plus the Five-Year Revolving Credit Facility Margin, less one percent per annum. Throughout the term of the Five-Year Revolving Credit Facility, we pay a facility fee on the daily amount of the underlying commitment, whether used or unused, which ranges from 0.10 percent to 0.30 percent, based on our Debt Rating, and was 0.175 percent at December 31, 2010. The Five-Year Revolving Credit Facility expires on November 27, 2012 and may be prepaid in whole or in part without premium or penalty. The Five-Year Revolving Credit Facility includes limitations on creating liens, incurring subsidiary debt, transactions with affiliates, sale/leaseback transactions, mergers and the sale of substantially all assets. The Five-Year Revolving Credit Facility also includes a covenant imposing a maximum debt to tangible capitalization ratio of 0.6 to 1.0. Borrowings under the Five-Year Revolving Credit Facility are subject to acceleration upon the occurrence of an event of default. At December 31, 2010, we had $1.9 billion available borrowing capacity, we had $81 million in letters of credit issued and outstanding and we had no borrowings outstanding under the Five-Year Revolving Credit Facility. 5% Notes and 7% Notes-Two of our wholly-owned subsidiaries are the obligors on the 5% Notes due 2013 (the "5% Notes") and the 7% Notes due 2028 (the "7% Notes"), and we have not guaranteed either obligation. The respective obligor may redeem the 5% Notes and the 7% Notes in whole or in part at a price equal to 100 percent of the principal amount plus accrued and unpaid interest, if any, and a make-whole premium. The indentures related to the 5% Notes and the 7% Notes contain limitations on creating liens and sale/leaseback transactions. At December 31, 2010, $250 million and $300 million aggregate principal amount of the 5% Notes and the 7% Notes, respectively, remained outstanding. See Note 12-Derivatives and Hedging. 5.25%, 6.00% and 6.80% Senior Notes-In December 2007, Transocean Inc. issued $500 million aggregate principal amount of 5.25% Senior Notes due March 2013 (the "5.25% Senior Notes"), $1.0 billion aggregate principal amount of 6.00% Senior Notes due March 2018 (the "6.00% Senior Notes") and $1.0 billion aggregate principal amount of 6.80% Senior Notes due March 2038 (the "6.80% Senior Notes"). Transocean Inc. may redeem some or all of the notes at any time, at a redemption price equal to 100 percent of the principal amount plus accrued and unpaid interest, if any, and a make-whole premium. The indenture pursuant to which the notes were issued contains restrictions on creating liens, engaging in sale/leaseback transactions and engaging in merger, consolidation or reorganization transactions. At December 31, 2010, $500 million, $1 billion and $1 billion principal amount of the 5.25% Senior Notes, the 6.00% Senior Notes and the 6.80% Senior Notes, respectively, were outstanding. See Note 12-Derivatives and Hedging. TPDI Credit Facilities-TPDI has a bank credit agreement for a $1.265 billion secured credit facility (the "TPDI Credit Facilities"), comprised of a $1.0 billion senior term loan, a $190 million junior term loan and a $75 million revolving credit facility, which was established to finance the construction of and is secured by Dhirubhai Deepwater KG1 and Dhirubhai Deepwater KG2. One of our subsidiaries participates in the senior and junior term loans with an aggregate commitment of $595 million. The senior term loan, the junior term loan and the revolving credit facility bear interest at LIBOR plus the applicable margins of 1.45 percent, 2.25 percent and 1.45 percent, respectively. The senior term loan requires quarterly payments with a final payment in March 2015. The junior term loan and the revolving credit facility are due in full in March 2015. The TPDI Credit Facilities may be prepaid in whole or in part without premium or penalty. The TPDI Credit Facilities have covenants that require TPDI to maintain a minimum cash balance and available liquidity, a minimum debt service ratio and a maximum leverage ratio. At December 31, 2010, $1.1 billion was outstanding under the TPDI Credit Facilities, of which $543 million was due to one of our subsidiaries and was eliminated in consolidation. The weighted-average interest rate on December 31, 2010 was 1.9 percent. In April 2010, TPDI obtained a letter of credit in the amount of $60 million to satisfy its liquidity requirements under the TPDI Credit Facilities. The letter of credit was issued under an uncommitted credit facility that has been established by one of our subsidiaries. 4.95% Senior Notes and 6.50% Senior Notes-In September 2010, we issued $1.1 billion aggregate principal amount of 4.95% Senior Notes due November 2015 (the "4.95% Senior Notes") and $900 million aggregate principal amount of 6.50% Senior Notes due November 2020 (the "6.50% Senior Notes," and together with the 4.95% Senior Notes, the "Senior Notes"). We are required to pay interest on the Senior Notes on May 15 and November 15 of each year, beginning November 15, 2010. We may redeem some or all of the Senior Notes at any time at a redemption price equal to 100 percent of the principal amount plus accrued and unpaid interest, if any, and a make whole premium. The indenture pursuant to which the Senior Notes were issued contains restrictions on creating liens, engaging in sale/leaseback transactions and engaging in merger, consolidation or reorganization transactions. At December 31, 2010, $1.1 billion and $900 million aggregate principal amount of the 4.95% Senior Notes and 6.50% Senior Notes, respectively, were outstanding. ADDCL Credit Facilities-ADDCL has a senior secured bank credit agreement for a credit facility (the "ADDCL Primary Loan Facility") comprised of Tranche A, Tranche B and Tranche C for $215 million, $270 million and $399 million, respectively, which was established to finance the construction of and is secured by Discoverer Luanda. Unaffiliated financial institutions provide the commitment for and borrowings under Tranche A, and one of our subsidiaries provides the commitment for Tranche C. In March 2010, ADDCL terminated Tranche B, having repaid borrowings of $235 million under Tranche B using borrowings under Tranche C. Tranche A bears interest at LIBOR plus the applicable margin of 0.725 percent. Tranche A requires semi-annual payments beginning six months after the rig's first well commencement date and matures in December 2017. The ADDCL Primary Loan Facility contains covenants that require ADDCL to maintain certain cash balances to service the debt and also limits ADDCL's ability to incur additional indebtedness, to acquire assets, or to make distributions or other payments. At December 31, 2010, $215 million was outstanding under Tranche A at a weighted-average interest rate of 1.2 percent. At December 31, 2010, $399 million was outstanding under Tranche C, which was eliminated in consolidation. Additionally, ADDCL has a secondary bank credit agreement for a $90 million credit facility (the "ADDCL Secondary Loan Facility"), for which one of our subsidiaries provides 65 percent of the total commitment. The facility bears interest at LIBOR plus the applicable margin, ranging from 3.125 percent to 5.125 percent, depending on certain milestones. The ADDCL Secondary Loan Facility is payable in full in December 2015, and it may be prepaid in whole or in part without premium or penalty. Borrowings under the ADDCL Secondary Loan Facility are subject to acceleration by the unaffiliated financial institution upon the occurrence of certain events of default, including the occurrence of a credit rating assignment of less than Baa3 or BBB- by Moody's Investors Service or Standard & Poor's Ratings Services, respectively, for Transocean Inc.'s long-term, unsecured, unguaranteed and unsubordinated indebtedness. At December 31, 2010, $77 million was outstanding under the ADDCL Secondary Loan Facility, of which $50 million was provided by one of our subsidiaries and has been eliminated in consolidation. The weighted-average interest rate on December 31, 2010 was 3.4 percent. 7.375% Senior Notes-In March 2002, we completed an exchange offer and consent solicitation for TODCO's 7.375% Senior Notes (the "Exchange Offer"). As a result of the Exchange Offer, we issued $247 million principal amount of our 7.375% Senior Notes. The indenture pursuant to which the 7.375% Senior Notes were issued contains restrictions on creating liens, engaging in sale/leaseback transactions and engaging in merger, consolidation or reorganization transactions. At December 31, 2010, $246 million principal amount of the 7.375% Senior Notes were outstanding. TPDI Notes-TPDI has issued promissory notes (the "TPDI Notes") payable to its two shareholders, Pacific Drilling and one of our subsidiaries, which have maturities through October 2019. At December 31, 2010, the aggregate outstanding principal amount was $296 million, of which $148 million was due to one of our subsidiaries and has been eliminated in consolidation. The weighted-average interest rate on December 31, 2010 was 2.6 percent. 7.45% Notes and 8% Debentures-In April 1997, a predecessor of Transocean Inc. issued $100 million aggregate principal amount of 7.45% Notes due April 2027 (the "7.45% Notes") and $200 million aggregate principal amount of 8% Debentures due April 2027 (the "8% Debentures"). The 7.45% Notes and the 8% Debentures are redeemable at any time at Transocean Inc.'s option subject to a make-whole premium. The indenture pursuant to which the 7.45% Notes and the 8% Debentures were issued contains restrictions on creating liens, engaging in sale/leaseback transactions and engaging in merger, consolidation or reorganization transactions. At December 31, 2010, $100 million and $57 million principal amount of the 7.45% Notes and the 8% Debentures, respectively, were outstanding. GSF Explorer capital lease obligation-During the year ended December 31, 2010, we acquired GSF Explorer, an asset formerly held under a capital lease, in exchange for a cash payment of $15 million, thereby terminating the capital lease obligation. In connection with the termination of the capital lease obligation, we recognized a gain on debt retirement of $2 million, which had no per diluted share or tax effect. See Note 9-Drilling Fleet. 1.625% Series A, 1.50% Series B and 1.50% Series C Convertible Senior Notes-In December 2007, we issued $2.2 billion aggregate principal amount of 1.625% Series A Convertible Senior Notes due December 2037 (the "Series A Convertible Senior Notes"), $2.2 billion aggregate principal amount of 1.50% Series B Convertible Senior Notes due December 2037 (the "Series B Convertible Senior Notes") and $2.2 billion aggregate principal amount of 1.50% Series C Convertible Senior Notes due December 2037 (the "Series C Convertible Senior Notes," and together with the Series A Convertible Senior Notes and Series B Convertible Senior Notes, the "Convertible Senior Notes"). The Convertible Senior Notes may be converted under the circumstances specified below at a rate of 5.9310 shares per $1,000 note, equivalent to a conversion price of $168.61 per share, subject to adjustments upon the occurrence of certain events. Upon conversion, we will deliver, in lieu of shares, cash up to the aggregate principal amount of notes to be converted and shares in respect of the remainder, if any, of our conversion obligation. In addition, if certain fundamental changes occur on or before December 20, 2011, with respect to Series B Convertible Senior Notes, or December 20, 2012, with respect to Series C Convertible Senior Notes, we will, in some cases, increase the conversion rate for a holder electing to convert notes in connection with such fundamental change. Holders may convert their notes only under the following circumstances: (1) during any calendar quarter if the last reported sale price of our shares for at least 20 trading days in a period of 30 consecutive trading days ending on the last trading day of the preceding calendar quarter is more than 130 percent of the conversion price, (2) during the five business days after the average trading price per $1,000 principal amount of the notes is equal to or less than 98 percent of the average conversion value of such notes during the preceding five trading-day period as described herein, (3) during specified periods if specified distributions to holders of our shares are made or specified corporate transactions occur, (4) prior to the close of business on the business day preceding the redemption date if the notes are called for redemption or (5) on or after September 15, 2037 and prior to the close of business on the business day prior to the stated maturity of the notes. As of December 31, 2010, no shares were issuable upon conversion of any series of the Convertible Senior Notes since none of the circumstances giving rise to potential conversion were present. We may redeem some or all of the notes at any time after December 20, 2011, in the case of the Series B Convertible Senior Notes, and December 20, 2012, in the case of the Series C Convertible Senior Notes, in each case at a redemption price equal to 100 percent of the principal amount plus accrued and unpaid interest, if any. Holders of the Series B Convertible Senior Notes have the right to require us to repurchase their notes on December 15, 2011. In addition, holders of any series of notes will have the right to require us to repurchase their notes on December 14, 2012, December 15, 2017, December 15, 2022, December 15, 2027 and December 15, 2032, and upon the occurrence of a fundamental change, at a repurchase price in cash equal to 100 percent of the principal amount of the notes to be repurchased plus accrued and unpaid interest, if any. The carrying amounts of the liability components of the Convertible Senior Notes were as follows (in millions):
The carrying amounts of the equity components of the Convertible Senior Notes were as follows (in millions):
Including the amortization of the unamortized discount, the effective interest rates were 5.08 percent for the Series B Convertible Senior Notes and 5.28 percent for the Series C Convertible Senior Notes. At December 31, 2010, the remaining period over which the discount will be amortized is less than one year for the Series B Convertible Senior Notes and 1.9 years for the Series C Convertible Senior Notes. Interest expense, excluding amortization of debt issue costs, was as follows (in millions):
Holders of the Series A Convertible Senior Notes had the option to require Transocean Inc., our wholly owned subsidiary and the issuer of the Series A Convertible Senior Notes, to repurchase all or any part of such holder's notes on December 15, 2010. As a result, we were required to repurchase an aggregate principal amount of $1,288 million of our Series A Convertible Senior Notes for an aggregate cash payment of $1,288 million. On December 31, 2010, Transocean Inc. called the remaining $11 million of Series A Convertible Senior Notes for redemption on January 31, 2011. See Note 25-Subsequent Events. During the year ended December 31, 2010, we repurchased an aggregate principal amount of $520 million of the Series B Convertible Senior Notes for an aggregate cash payment of $505 million and an aggregate principal amount of $478 million of the Series C Convertible Senior Notes for an aggregate cash payment of $453 million. In connection with the repurchases, we recognized a loss on retirement of $35 million ($0.11 per diluted share), with no tax effect, associated with the debt components of the repurchased notes, and we recorded additional paid-in capital of $14 million associated with the equity components of the repurchased notes. During the year ended December 31, 2009, we repurchased an aggregate principal amount of $901 million of the Series A Convertible Senior Notes for an aggregate cash payment of $865 million. We recognized a loss of $28 million associated with the debt component of the instrument and recorded additional paid-in capital of $22 million associated with the equity component of the instrument. |
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Information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Derivatives and Hedging
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Notes to Financial Statements [Abstract] | |
Derivatives and Hedging | Cash flow hedges-TPDI has entered into interest rate swaps, which have been designated and have qualified as a cash flow hedge, to reduce the variability of cash interest payments associated with the variable-rate borrowings under the TPDI Credit Facilities. The aggregate notional amount corresponds with the aggregate outstanding amount of the borrowings under the TPDI Credit Facilities. As of December 31, 2010, the aggregate notional amount was $1.1 billion, of which $543 million was attributable to the intercompany borrowings provided by one of our subsidiaries and the related balances have been eliminated in consolidation. At December 31, 2010, the weighted-average variable interest rate associated with the interest rate swaps was 0.3 percent, and the weighted-average fixed interest rate was 2.3 percent. At December 31, 2010, the interest rate swaps represented a liability measured at a fair value of $11 million, recorded in other long-term liabilities, with a corresponding increase to accumulated other comprehensive loss. At December 31, 2009, the interest rate swaps represented an asset measured at a fair value of $6 million, recorded in other assets, and a liability measured at a fair value of less than $1 million, recorded in other long-term liabilities, with a corresponding net decrease to accumulated other comprehensive loss. The amount associated with the ineffective portion of the cash flow hedges was less than $1 million, recorded in interest expense for the years ended December 31, 2010 and 2009. In February 2009, Transocean Inc. entered into interest rate swaps with an aggregate notional value of $1 billion, which were designated and qualified as a cash flow hedge, to reduce the variability of our cash interest payments on the borrowings under a term loan. Under the interest rate swaps, Transocean Inc. received interest at one-month LIBOR and paid interest at a fixed rate of 0.768 percent over the six-month period ended August 6, 2009. Upon their stated maturity, Transocean Inc. settled these interest rate swaps with no gain or loss recognized. No ineffectiveness was recorded in interest expense. Fair value hedges-Two of our wholly owned subsidiaries have entered into interest rate swaps, which are designated and have qualified as fair value hedges, to reduce our exposure to changes in the fair values of the 5.25% Senior Notes and the 5.00% Notes. The interest rate swaps have aggregate notional amounts of $500 million and $250 million, respectively, equal to the face values of the hedged instruments and have stated maturities that coincide with those of the hedged instruments. We have determined that the hedging relationships qualify for, and we have applied, the shortcut method of accounting, under which the interest rate swaps are considered to have no ineffectiveness and no ongoing assessment of effectiveness is required. At December 31, 2010, the weighted-average variable interest rate on the interest rate swaps was 3.5 percent, and the fixed interest rates matched those of the underlying debt instruments. At December 31, 2010, the interest rate swaps represented an asset measured at fair value of $17 million, recorded in other assets, with a corresponding increase to the carrying amounts of the underlying debt instruments. At December 31, 2009, the interest rate swaps represented a liability measured at a fair value of $4 million, recorded in other long-term liabilities, with a corresponding decrease to the carrying amount of the underlying debt instrument. |
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This element can be used to disclose the entity's entire derivative instruments and hedging activities disclosure as a single block of text. Describes an entity's risk management strategies, derivatives in hedging activities and non-hedging derivative instruments, the assets, obligations, liabilities, revenues and expenses arising there from, and the amounts of and methodologies and assumptions used in determining the amounts of such items. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Postemployment Benefit Plans
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Postemployment Benefit Plans | Defined benefit pension plans and other postretirement employee benefit plans Overview-We maintain a single qualified defined benefit pension plan in the U.S. (the "U.S. Plan") and a single funded supplemental benefit plan (the "Supplemental Plan"). The U.S. Plan covers substantially all U.S. employees, and the Supplemental Plan, along with two other unfunded supplemental benefit plans (the "Other Supplemental Plans"), provide certain eligible employees with benefits in excess of those allowed under the U.S. Plan. Additionally, we maintain two funded and two unfunded defined benefit plans (collectively, the "Frozen Plans") that we assumed in connection with our mergers with GlobalSantaFe and R&B Falcon, all of which were frozen prior to the respective mergers and for which benefits no longer accrue but the pension obligations have not been fully distributed. We refer to the U.S. Plan, the Supplemental Plan, the Other Supplemental Plans and the Frozen Plans, collectively, as the "U.S. Plans." We maintain a defined benefit plan in the U.K. (the "U.K. Plan") covering certain current and former employees in the U.K. We also provide several funded defined benefit plans, primarily group pension schemes with life insurance companies, and two unfunded plans, covering our eligible Norway employees and former employees (the "Norway Plans"). We also maintain unfunded defined benefit plans (the "Other Plans") that provide retirement and severance benefits for certain of our Indonesian, Nigerian and Egyptian employees. We refer to the U.K. Plan, the Norway Plans and the Other Plans, collectively, as the "Non-U.S. Plans." We refer to the U.S. Plans and the Non-U.S. Plans, collectively, as the "Transocean Plans". Additionally, we have several unfunded contributory and noncontributory other postretirement employee benefits plans (the "OPEB Plans") covering substantially all of our U.S. employees. Assumptions-The following were the weighted-average assumptions used to determine benefit obligations:
The following were the weighted-average assumptions used to determine net periodic benefit costs:
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Funded status-The changes in projected benefit obligation, plan assets and funded status and the amounts recognized on our consolidated balance sheets were as follows (in millions):
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The aggregate projected benefit obligation and fair value of plan assets for plans with a projected benefit obligation in excess of plan assets were as follows (in millions):
The accumulated benefit obligation for all defined benefit pension plans was $1.3 billion and $1.1 billion at December 31, 2010 and 2009, respectively. The aggregate accumulated benefit obligation and fair value of plan assets for plans with an accumulated benefit obligation in excess of plan assets were as follows (in millions):
Plan assets-We periodically review our investment policies, plan assets and asset allocation strategies to evaluate performance relative to specified objectives. In determining our asset allocation strategies for the U.S. Plans, we review the results of regression models to assess the most appropriate target allocation for each plan, given the plan's status, demographics and duration. For the U.K. Plans, the plan trustees establish the asset allocation strategies consistent with the regulations of the U.K. pension regulators and in consultation with financial advisors and company representatives. Investment managers for the U.S. Plans and the U.K. Plan are given established ranges within which the investments may deviate from the target allocations. For the Norway Plans, we establish minimum returns under the terms of investment contracts with insurance companies. As of December 31, 2010 and 2009, the weighted-average target and actual allocations of the investments for our funded Transocean Plans were as follows:
As of December 31, 2010, the investments for our funded Transocean Plans were categorized as follows (in millions):
As of December 31, 2009, the investments for our funded Transocean Plans were categorized as follows (in millions):
The U.S. Plans invest in passively managed funds that reference market indices. The Non-U.S. Plans invest in actively managed funds that are measured for performance against relevant index benchmarks or that are subject to contractual terms under selected insurance programs. Each plan's investment managers have discretion to select the securities held within each asset category. Given this discretion, the managers may occasionally invest in our debt or equity securities, and may hold either long or short positions in such securities. As the plan investment managers are required to maintain well diversified portfolios, the actual investment in our securities would be immaterial relative to asset categories and the overall plan assets. Net periodic benefit costs-Net periodic benefit costs, before tax, included the following components (in millions):
For the OPEB Plans, the combined components of net periodic benefit costs, including service cost, interest cost, amortization of prior service cost and recognized net actuarial losses were $2 million, $3 million and $3 million for the years ended December 31, 2010, 2009 and 2008, respectively. The following table presents the amounts in accumulated other comprehensive income, before tax, that have not been recognized as components of net periodic benefit costs (in millions):
The following table presents the amounts in accumulated other comprehensive income expected to be recognized as components of net periodic benefit costs during the year ending December 31, 2011 (in millions):
Funding contributions-During the years ended December 31, 2010, 2009 and 2008, we contributed $115 million, $73 million and $78 million, respectively, to the Transocean Plans and the OPEB Plans using our cash flows from operations. For the year ending December 31, 2011, we expect to contribute $93 million to the Transocean Plans, and we expect to fund benefit payments of approximately $4 million for the OPEB Plans as costs are incurred. Benefit payments-The following were the projected benefits payments (in millions):
Defined contribution plans We sponsor three defined contribution plans, including (1) one qualified defined contribution savings plan covering certain employees working in the U.S. (the "U.S. Savings Plan"), (2) one defined contribution savings plan covering certain employees working outside the U.S. and U.K. (the "Non-U.S. Savings Plan"), and (3) one defined contribution pension plan that covers certain employees working outside the U.S. (the "Non-U.S. Pension Plan"). For the U.S. Savings Plan and the Non-U.S. Savings Plan, we make a matching contribution of up to 6.0 percent of each covered employee's base salary, based on the employee's contribution to the plan. For the Non-U.S. Pension Plan, we contribute between 4.5 percent and 6.5 percent of each covered employee's base salary, based on the employee's years of eligible service. We recorded approximately $69 million, $67 million and $51 million of expense related to our defined contribution plans for the years ended December 31, 2010, 2009 and 2008, respectively. Severance plan Following our merger with GlobalSantaFe in 2007, we established a plan to consolidate operations and administrative functions and identified 377 employees that were involuntarily terminated pursuant to this plan. We recognized $5 million, $17 million and $5 million of severance expense, recorded in operating and maintenance expense and in general and administrative expense, for the years ended December 31, 2010, 2009 and 2008, respectively. No additional expense will be recognized under the severance plan, which expired in January 2010. The liability associated with the severance plan, recorded in other current liabilities, was $1 million and $17 million at December 31, 2010 and 2009, respectively. Since the severance plan's inception in 2007, we have paid an aggregate amount of $74 million in termination benefits under the plan, including $21 million, $18 million and $33 million paid during the years ended December 31, 2010, 2009 and 2008, respectively. |
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Description containing the entire pension and other postretirement benefits disclosure as a single block of text. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Commitments and Contingencies
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Commitments And Contingencies | Lease obligations We have operating lease commitments expiring at various dates, principally for real estate, office space and office equipment. In August 2009, we accepted delivery of Petrobras 10000, an asset held under a capital lease through August 2029. Additionally, in March 2010, we acquired GSF Explorer, an asset formerly held under a capital lease, in exchange for a cash payment terminating the capital lease obligation in the amount of $15 million (see Note 11-Debt). Rental expenses for all leases, including leases with terms of less than one year, was approximately $98 million, $99 million and $89 million for the years ended December 31, 2010, 2009 and 2008, respectively. As of December 31, 2010, future minimum rental payments related to noncancellable operating leases and the capital leases were as follows (in millions):
The following were the aggregate carrying amount of our assets held under capital lease, as of December 31, 2010 and 2009, respectively (in millions):
Depreciation expense associated with our assets held under capital lease was $23 million, $14 million and $12 million for the years ended December 31, 2010, 2009 and 2008, respectively. The amount for the year ended December 31, 2010 includes only three months of depreciation expense for GSF Explorer through the date of our acquisition of the rig in March 2010. Purchase obligations At December 31, 2010, our purchase obligations, primarily related to our newbuilds, were as follows (in millions):
Macondo well incident Overview-On April 22, 2010, the Ultra-Deepwater Floater Deepwater Horizon sank after a blowout of the Macondo well caused a fire and explosion on the rig. Eleven persons were declared dead and others were injured as a result of the incident. At the time of the explosion, Deepwater Horizon was located approximately 41 miles off the coast of Louisiana in Mississippi Canyon Block 252 and was contracted to BP America Production Co. As we continue to investigate the cause or causes of the incident, we are evaluating its consequences. Although we cannot predict the final outcome or estimate the reasonably possible range of loss with certainty, we have recognized a liability for estimated loss contingencies that we believe are probable and for which a reasonable estimate can be made. We have also recognized a receivable for the portion of this liability that we believe is recoverable from insurance. As of December 31, 2010, the amount of the estimated liability was $135 million, recorded in other current liabilities, and the corresponding estimated recoverable amount was $94 million, recorded in accounts receivable, net, on our consolidated balance sheet. New information or future developments could require us to adjust our disclosures and our estimated liabilities and insurance recoveries. See "-Contractual indemnity." Litigation-As of December 31, 2010, 304 actions or claims were pending against Transocean entities, along with other unaffiliated defendants, in state and federal courts. Additionally, government agencies have initiated investigations into the Macondo well incident. We have categorized below the nature of the legal actions or claims. We are evaluating all claims and intend to vigorously defend any claims and pursue any and all defenses available. In addition, we believe we are entitled to contractual defense and indemnity for all wrongful death and personal injury claims made by non-employees and third-party subcontractors' employees as well as all liabilities for pollution or contamination, other than for pollution or contamination originating on or above the surface of the water. See "-Contractual indemnity." Wrongful death and personal injury-As of December 31, 2010, we and one or more of our subsidiaries have been named, along with other unaffiliated defendants, in 30 complaints that were pending in state and federal courts in Louisiana and Texas involving multiple plaintiffs that allege wrongful death and other personal injuries arising out of the Macondo well incident. Per the order of the Multi-District Litigation Panel (the "MDL"), these claims have been centralized for discovery purposes in the U.S. District Court, Eastern District of Louisiana. The complaints generally allege negligence and seek awards of unspecified economic damages and punitive damages. BP plc (together with its affiliates, "BP"), MI-SWACO, Weatherford Ltd. and Cameron International Corporation and certain of its affiliates have, based on contractual arrangements, also made indemnity demands upon us with respect to personal injury and wrongful death claims asserted by our employees or representatives of our employees against these entities. See "-Contractual indemnity." Economic loss-As of December 31, 2010, we and one or more of our subsidiaries were named, along with other unaffiliated defendants, in 70 individual complaints as well as 185 putative class-action complaints that were pending in the federal and state courts in Louisiana, Texas, Mississippi, Alabama, Georgia, Kentucky, South Carolina, Tennessee, Florida and possibly other courts. The complaints generally allege, among other things, potential economic losses as a result of environmental pollution arising out of the Macondo well incident and are based primarily on the Oil Pollution Act of 1990 ("OPA") and state OPA analogues. See "-Environmental matters." One complaint also alleges a violation of the Racketeer Influenced and Corrupt Organizations Act, but we were not named in this particular master complaint. The plaintiffs are generally seeking awards of unspecified economic, compensatory and punitive damages, as well as injunctive relief. See "-Contractual indemnity." Per the order of the MDL, the economic loss claims filed in federal courts have been or will be centralized for discovery purposes in the U.S. District Court, Eastern District of Louisiana. Absent agreement of the parties, however, the cases will be tried in the courts from which they were transferred. Federal securities claims-Three federal securities law class actions are currently pending in the U.S. District Court, Southern District of New York, naming us and certain of our officers and directors as defendants. Two of these actions generally allege violations of Section 10(b) of the Securities Exchange Act of 1934 (the "Exchange Act"), Rule 10b-5 promulgated under the Exchange Act and Section 20(a) of the Exchange Act in connection with the Macondo well incident. The plaintiffs are generally seeking awards of unspecified economic damages, including damages resulting from the decline in our stock price after the Macondo well incident. The third action was filed by a former GlobalSantaFe shareholder, alleging that the proxy statement related to our shareholder meeting in connection with our merger with GlobalSantaFe violated Section 14(a) of the Exchange Act, Rule 14a-9 promulgated thereunder and Section 20(a) of the Exchange Act. The plaintiff claims that GlobalSantaFe shareholders received inadequate consideration for their shares as a result of the alleged violations and seeks rescission and compensatory damages. Shareholder derivative claims-In June 2010, two shareholder derivative suits were filed by our shareholders naming us as a nominal defendant and certain of our officers and directors as defendants in the District Courts of the State of Texas. The first case generally alleges breach of fiduciary duty, unjust enrichment, abuse of control, gross mismanagement and waste of corporate assets in connection with the Macondo well incident and the other generally alleges breach of fiduciary duty, unjust enrichment and waste of corporate assets in connection with the Macondo well incident. The plaintiffs are generally seeking, on behalf of Transocean, restitution and disgorgement of all profits, benefits and other compensation from the defendants. Environmental matters-Environmental claims under two different schemes, statutory and common law, and in two different regimes, federal and state, have been asserted against us. See "-Litigation-Economic loss." Liability under many statutes is imposed without fault, but such statutes often allow the amount of damages to be limited. In contrast, common law liability requires proof of fault and causation, but generally has no readily defined limitation on damages, other than the type of damages that may be redressed. We have described below certain significant applicable environmental statutes and matters relating to the Macondo well incident. As described below, we believe that we have limited statutory environmental liability and we are entitled to contractual defense and indemnity for all liabilities for pollution or contamination, other than for pollution or contamination originating on or above the surface of the water. See "-Contractual indemnity." Oil Pollution Act-OPA imposes strict liability on responsible parties of vessels or facilities from which oil is discharged into or upon navigable waters or adjoining shore lines. OPA defines the responsible parties with respect to the source of discharge. We believe that the owner or operator of a mobile offshore drilling unit ("MODU"), such as Deepwater Horizon, is only a responsible party with respect to discharges from the vessel that occur on or above the surface of the water. As the responsible party for Deepwater Horizon, we believe we are responsible only for the discharges of oil emanating from the rig. Therefore, we believe we are not responsible for the discharged hydrocarbons from the Macondo well. Responsible parties for discharges are liable for: (1) removal and cleanup costs, (2) damages that result from the discharge, including natural resources damages, generally up to a statutorily defined limit, (3) reimbursement for government efforts and (4) certain other specified damages. For responsible parties of MODUs, the limitation on liability is determined based on the gross tonnage of the vessel. The statutory limits are not applicable, however, if the discharge is the result of gross negligence, willful misconduct, or violation of federal construction or permitting regulations by the responsible party or a party in a contractual relationship with the responsible party. Additionally, the National Pollution Funds Center ("NPFC"), a division of the U.S. Coast Guard, is charged with administering the Oil Spill Liability Trust Fund ("OSLTF"). The NPFC collects fines and civil penalties under OPA from responsible parties, as defined in the statute. The payments are directed to the OSLTF. To date, the NPFC has issued nine invoices to BP, Anadarko Petroleum Corporation (together with its affiliates, "Anadarko") and MOEX Offshore LLC (together with its affiliates, "MOEX"), as the operator and leasehold owners of the well and, thus, the statutorily defined responsible parties for discharges from the well and wellhead. To date, BP has paid all nine of these invoices. Invoices have also been sent to us, and we have acknowledged responsible party status only with respect to discharges from the vessel on or above the surface of the water, if any. In addition, on December 15, 2010, the Department of Justice (the "DOJ") filed a civil lawsuit against us and other unaffiliated defendants. The complaint alleges violations under OPA and the Clean Water Act, and the DOJ reserved its rights to amend the complaint to add new claims and defendants. The complaint asserts that all defendants named are jointly and severally liable for all removal costs and damages resulting from the Macondo well incident. In addition to the civil complaint, the DOJ served us with Civil Investigative Demands ("CIDs") on December 8, 2010. These demands are part of an on-going investigation by the DOJ to determine if we made false claims in connection with the operator's acquisition of the leasehold interest in the Mississippi Canyon Block 252, Gulf of Mexico and drilling operations on Deepwater Horizon. We have also received claims directly from individuals, pursuant to OPA, requesting compensation for loss of income as a result of the Macondo well incident. BP has accepted responsible party status with the U.S. Coast Guard for the release of hydrocarbons from the Macondo well and has stated its intent to pay all legitimate claims, and we have not paid any of these claims. Other federal statutes-Several of the claimants have made assertions under other statutes, including the Clean Water Act, the Endangered Species Act, the Migratory Bird Treaty Act, the Clean Air Act, the Comprehensive Environmental Response Compensation and Liability Act and the Emergency Planning and Community Right-to-Know Act. State environmental laws-As of December 31, 2010, claims had been asserted by private claimants under state environmental statutes in Florida, Louisiana, Mississippi and Texas. As described below, claims asserted by various state and local governments are pending in Alabama, Florida, Louisiana and Texas. In June 2010, the Louisiana Department of Environmental Quality (the "LDEQ") issued a consolidated compliance order and notice of potential penalty to us and certain of our subsidiaries asking us to eliminate and remediate discharges of oil and other pollutants into waters and property located in the State of Louisiana, and to submit a plan and report in response to the order. We requested that the LDEQ rescind the enforcement actions against us and our subsidiaries because the remediation actions that are the subject of such orders are actions that do not involve us or our subsidiaries, as we are not involved in the remediation or clean-up activities. Alternatively, if the LDEQ would not rescind the enforcement actions altogether, we requested the LDEQ to dismiss the enforcement actions against us and certain of our subsidiaries as these entities are not proper parties to the enforcement actions and were improperly served. In October 2010, the LDEQ rescinded its enforcement actions against us and our subsidiaries but reserved its rights to seek civil penalties for future violations of the Louisiana Environmental Quality Act. In September 2010, the State of Louisiana filed a declaratory judgment seeking to designate us as a responsible party under OPA and the Louisiana Oil Spill Prevention and Response Act ("LOSPRA") for the discharges emanating from the Macondo well. Specifically the declaratory judgment claims (1) that we are a responsible party under OPA for all hydrocarbons discharged from the Macondo well, including underwater discharges of oil from the well head; (2) that we, as a responsible party, are jointly, severally, and strictly liable for the spill from the Macondo well in accordance with OPA; (3) that we are a responsible party under the Louisiana Oil Spill Prevention and Response Act for all hydrocarbons discharged from the Macondo well, including underwater discharges of oil from the well head; (4) that we, as a responsible party, are jointly, severally, and strictly liable for the spill from the Macondo well in accordance with the LOSPRA; and (5) seeks an award Plaintiff's costs incurred in pursuing this action as allowed by law. Additionally, suits have been filed by the State of Alabama and the cities of Greenville, Evergreen, Georgiana and McKenzie, Alabama in the U.S. District Court, Middle District of Alabama; the Mexican States of Veracruz, Quintana Roo and Tamaulipas in the U.S. District Court, Western District of Texas; and the City of Panama City Beach, Florida in the U.S. District Court, Northern District of Florida. Generally, these governmental entities allege economic losses under OPA and other statutory environmental state claims and also assert various common law state claims. The claims of the State of Alabama, the cities in Alabama, and the Mexican States have been centralized in the MDL and will proceed in accordance with the MDL scheduling order, and the City of Panama City Beach's claim was voluntarily dismissed. By letter dated May 5, 2010, the Attorneys General of the five Gulf Coast states of Alabama, Florida, Louisiana, Mississippi and Texas informed us that they intend to seek recovery of pollution clean-up costs and related damages arising from the Macondo well incident. In addition, by letter dated June 21, 2010, the Attorneys General of the 11 Atlantic Coast states of Connecticut, Delaware, Georgia, Maine, Maryland, Massachusetts, New Hampshire, New York, North Carolina, Rhode Island and South Carolina informed us that their states have not sustained any damage from the Macondo well incident but they would like assurances that we will be responsible financially if damages are sustained. We responded to each letter from the Attorneys General and indicated that we intend to fulfill our obligations as a responsible party for any discharge of oil from Deepwater Horizon on or above the surface of the water, and we assume that the operator will similarly fulfill its obligations under OPA for discharges from the undersea well. Other than the lawsuit filed by the State of Alabama discussed above, no further requests have been made or actions taken with regard to the initial communication. Wreck removal-By letter dated December 6, 2010, the Coast Guard requested us to formulate and submit a comprehensive oil removal plan to remove any diesel fuel contained in the sponsons and fuel tanks that can be recovered from Deepwater Horizon. We have conducted a survey of the rig wreckage and are reviewing the results. We have insurance coverage for wreck removal for up to 25 percent of Deepwater Horizon's insured value, or $140 million, with any excess wreck removal liability generally covered to the extent of our remaining excess liability limits. Contractual indemnity-Under our drilling contract for Deepwater Horizon, the operator has agreed, among other things, to assume full responsibility for and defend, release and indemnify us from any loss, expense, claim, fine, penalty or liability for pollution or contamination, including control and removal thereof, arising out of or connected with operations under the contract other than for pollution or contamination originating on or above the surface of the water from hydrocarbons or other specified substances within the control and possession of the contractor, as to which we agreed to assume responsibility and protect, release and indemnify the operator. Although we do not believe it is applicable to the Macondo well incident, we also agreed to indemnify and defend the operator up to a limit of $15 million for claims for loss or damage to third parties arising from pollution caused by the rig while it is off the drilling location, while the rig is underway or during drive off or drift off of the rig from the drilling location. The operator has also agreed, among other things, (1) to defend, release and indemnify us against loss or damage to the reservoir, and loss of property rights to oil, gas and minerals below the surface of the earth and (2) to defend, release and indemnify us and bear the cost of bringing the well under control in the event of a blowout or other loss of control. We agreed to defend, release and indemnify the operator for personal injury and death of our employees, invitees and the employees of our subcontractors while the operator agreed to defend, release and indemnify us for personal injury and death of its employees, invitees and the employees of its other subcontractors, other than us. We have also agreed to defend, release and indemnify the operator for damages to the rig and equipment, including salvage or removal costs. Although we believe we are entitled to contractual defense and indemnity, given the potential amounts involved in connection with the Macondo well incident, the operator may seek to avoid its indemnification obligations. In particular, the operator, in response to our request for indemnification, has generally reserved all of its rights and stated that it could not at this time conclude that it is obligated to indemnify us. In doing so, the operator has asserted that the facts are not sufficiently developed to determine who is responsible and has cited a variety of possible legal theories based upon the contract and facts still to be developed. We believe this reservation of rights is without justification and that the operator is required to honor its indemnification obligations contained in our contract and described above. Other legal proceedings Asbestos litigation-In 2004, several of our subsidiaries were named, along with numerous other unaffiliated defendants, in 21 complaints filed on behalf of 769 plaintiffs in the Circuit Courts of the State of Mississippi and which claimed injuries arising out of exposure to asbestos allegedly contained in drilling mud during these plaintiffs' employment in drilling activities between 1965 and 1986. A Special Master, appointed to administer these cases pre-trial, subsequently required that each individual plaintiff file a separate lawsuit, and the original 21 multi-plaintiff complaints were then dismissed by the Circuit Courts. The amended complaints resulted in one of our subsidiaries being named as a direct defendant in seven cases. We have or may have an indirect interest in an additional 12 cases. The complaints generally allege that the defendants used or manufactured asbestos-containing products in connection with drilling operations and have included allegations of negligence, products liability, strict liability and claims allowed under the Jones Act and general maritime law. The plaintiffs generally seek awards of unspecified compensatory and punitive damages. In each of these cases, the complaints have named other unaffiliated defendant companies, including companies that allegedly manufactured the drilling-related products that contained asbestos. The preliminary information available on these claims is not sufficient to determine if there is an identifiable period for alleged exposure to asbestos, whether any asbestos exposure in fact occurred, the vessels potentially involved in the claims, or the basis on which the plaintiffs would support claims that their injuries were related to exposure to asbestos. However, the initial evidence available would suggest that we would have significant defenses to liability and damages. In 2009, two cases that were part of the original 2004 multi-plaintiff suits went to trial in Mississippi against unaffiliated defendant companies which allegedly manufactured drilling-related products containing asbestos. We were not a defendant in either of these cases. One of the cases resulted in a substantial jury verdict in favor of the plaintiff, and this verdict was subsequently vacated by the trial judge on the basis that the plaintiff failed to meet its burden of proof. While the court's decision is consistent with our general evaluation of the strength of these cases, it has not been reviewed on appeal. The second case resulted in a verdict completely in favor of the defendants. There were two additional trials in 2010, one resulting in a substantial verdict for the plaintiff and one resulting in a complete verdict for the defendants. We were not a defendant in either case and both of the matters are currently on appeal. We intend to defend these lawsuits vigorously, although there can be no assurance as to the ultimate outcome. We historically have maintained broad liability insurance, although we are not certain whether insurance will cover the liabilities, if any, arising out of these claims. Based on our evaluation of the exposure to date, we do not expect the liability, if any, resulting from these claims to have a material adverse effect on our consolidated statement of financial position, results of operations or cash flows. One of our subsidiaries was involved in lawsuits arising out of the subsidiary's involvement in the design, construction and refurbishment of major industrial complexes. The operating assets of the subsidiary were sold and its operations discontinued in 1989, and the subsidiary has no remaining assets other than the insurance policies involved in its litigation, with its insurers and, either directly or indirectly as the beneficiary of a qualified settlement fund, funding from settlements with insurers, assigned rights from insurers and "coverage-in-place" settlement agreements with insurers, and funds received from the communication of certain insurance policies. The subsidiary has been named as a defendant, along with numerous other companies, in lawsuits alleging bodily injury or personal injury as a result of exposure to asbestos. As of December 31, 2010, the subsidiary was a defendant in approximately 1,037 lawsuits. Some of these lawsuits include multiple plaintiffs and we estimate that there are approximately 2,440 plaintiffs in these lawsuits. For many of these lawsuits, we have not been provided with sufficient information from the plaintiffs to determine whether all or some of the plaintiffs have claims against the subsidiary, the basis of any such claims, or the nature of their alleged injuries. The first of the asbestos-related lawsuits was filed against this subsidiary in 1990. Through December 31, 2010, the amounts expended to resolve claims, including both defense fees and expenses and settlement costs, have not been material, all known deductibles have been satisfied or are inapplicable, and the subsidiary's defense fees and expenses and costs of settlement have been met by insurance made available to the subsidiary. The subsidiary continues to be named as a defendant in additional lawsuits, and we cannot predict the number of additional cases in which it may be named a defendant nor can we predict the potential costs to resolve such additional cases or to resolve the pending cases. However, the subsidiary has in excess of $1 billion in insurance limits potentially available to the subsidiary. Although not all of the policies may be fully available due to the insolvency of certain insurers, we believe that the subsidiary will have sufficient funding from settlements and claims payments from insurers, assigned rights from insurers and "coverage-in-place" settlement agreements with insurers to respond to these claims. While we cannot predict or provide assurance as to the final outcome of these matters, we do not believe that the current value of the claims where we have been identified will have a material impact on our consolidated statement of financial position, results of operations or cash flows. Rio de Janeiro tax assessment-In the third quarter of 2006, we received tax assessments of approximately $188 million from the state tax authorities of Rio de Janeiro in Brazil against one of our Brazilian subsidiaries for taxes on equipment imported into the state in connection with our operations. The assessments resulted from a preliminary finding by these authorities that our subsidiary's record keeping practices were deficient. We currently believe that the substantial majority of these assessments are without merit. We filed an initial response with the Rio de Janeiro tax authorities on September 9, 2006 refuting these additional tax assessments. In September 2007, we received confirmation from the state tax authorities that they believe the additional tax assessments are valid, and as a result, we filed an appeal on September 27, 2007 to the state Taxpayer's Council contesting these assessments. While we cannot predict or provide assurance as to the final outcome of these proceedings, we do not expect it to have a material adverse effect on our consolidated statement of financial position, results of operations or cash flows. Brazilian import license assessment-In the fourth quarter of 2010, one of our Brazilian subsidiaries received an assessment from the Brazilian federal tax authorities in Rio de Janeiro of approximately $235 million based upon the alleged failure to timely apply for import licenses for certain equipment and for allegedly providing improper information on import license applications. We responded to the assessment on December 22, 2010, and we currently believe that a substantial majority of the assessment is without merit. While we cannot predict or provide assurance as to the final outcome of these proceedings, we do not expect it to have a material adverse effect on our consolidated statement of financial position, results of operations or cash flows. Patent litigation-In 2007, several of our subsidiaries were sued by Heerema Engineering Services ("Heerema") in the United States District Court for the Southern District of Texas for patent infringement, claiming that we infringe their U.S. patent entitled Method and Device for Drilling Oil and Gas. Heerema claims that our Enterprise class, advanced Enterprise class, Express class and Development Driller class of drilling rigs operating in the U.S. Gulf of Mexico infringe on this patent. Heerema seeks unspecified damages and injunctive relief. The court has held a hearing on construction of Heerema's patent but has not yet issued a decision. We deny liability for patent infringement, believe that Heerema's patent is invalid and intend to vigorously defend against the claim. We do not expect the liability, if any, resulting from this claim to have a material adverse effect on our consolidated statement of financial position, results of operations or cash flows. Other matters-We are involved in various tax matters and various regulatory matters. We are also involved in lawsuits relating to damage claims arising out of hurricanes Katrina and Rita, all of which are insured and which are not material to us. In addition, as of December 31, 2010, we were involved in a number of other lawsuits, including a dispute for municipal tax payments in Brazil and a dispute involving customs procedures in India, neither of which is material to us, and all of which have arisen in the ordinary course of our business. We do not expect the liability, if any, resulting from these other matters to have a material adverse effect on our consolidated statement of financial position, results of operations or cash flows. We cannot predict with certainty the outcome or effect of any of the litigation matters specifically described above or of any such other pending or threatened litigation. There can be no assurance that our beliefs or expectations as to the outcome or effect of any lawsuit or other litigation matter will prove correct and the eventual outcome of these matters could materially differ from management's current estimates. Other environmental matters Hazardous waste disposal sites-We have certain potential liabilities under the Comprehensive Environmental Response, Compensation and Liability Act ("CERCLA") and similar state acts regulating cleanup of various hazardous waste disposal sites, including those described below. CERCLA is intended to expedite the remediation of hazardous substances without regard to fault. Potentially responsible parties ("PRPs") for each site include present and former owners and operators of, transporters to and generators of the substances at the site. Liability is strict and can be joint and several. We have been named as a PRP in connection with a site located in Santa Fe Springs, California, known as the Waste Disposal, Inc. site. We and other PRPs have agreed with the U.S. Environmental Protection Agency ("EPA") and the DOJ to settle our potential liabilities for this site by agreeing to perform the remaining remediation required by the EPA. The form of the agreement is a consent decree, which has been entered by the court. The parties to the settlement have entered into a participation agreement, which makes us liable for approximately eight percent of the remediation and related costs. The remediation is complete, and we believe our share of the future operation and maintenance costs of the site is not material. There are additional potential liabilities related to the site, but these cannot be quantified, and we have no reason at this time to believe that they will be material. One of our subsidiaries has been ordered by the California Regional Water Quality Control Board ("CRWQCB") to develop a testing plan for a site known as Campus 1000 Fremont in Alhambra, California. This site was formerly owned and operated by certain of our subsidiaries. It is presently owned by an unrelated party, which has received an order to test the property. We have also been advised that one or more of our subsidiaries is likely to be named by the EPA as a PRP for the San Gabriel Valley, Area 3, Superfund site, which includes this property. Testing has been completed at the property but no contaminants of concern were detected. In discussions with CRWQCB staff, we were advised of their intent to issue us a "no further action" letter but it has not yet been received. Based on the test results, we would contest any potential liability. We have no knowledge at this time of the potential cost of any remediation, who else will be named as PRPs, and whether in fact any of our subsidiaries is a responsible party. The subsidiaries in question do not own any operating assets and have limited ability to respond to any liabilities. Resolutions of other claims by the EPA, the involved state agency or PRPs are at various stages of investigation. These investigations involve determinations of:
Our ultimate financial responsibility in connection with those sites may depend on many factors, including:
It is difficult to quantify with certainty the potential cost of these environmental matters, particularly in respect of remediation obligations. Nevertheless, based upon the information currently available, we believe that our ultimate liability arising from all environmental matters, including the liability for all other related pending legal proceedings, asserted legal claims and known potential legal claims which are likely to be asserted, is adequately accrued and should not have a material effect on our financial position, or ongoing results of operations. Estimated costs of future expenditures for environmental remediation obligations are not discounted to their present value. Contamination litigation On July 11, 2005, one of our subsidiaries was served with a lawsuit filed on behalf of three landowners in Louisiana in the 12th Judicial District Court for the Parish of Avoyelles, State of Louisiana. The lawsuit named 19 other defendants, all of which were alleged to have contaminated the plaintiffs' property with naturally occurring radioactive material, produced water, drilling fluids, chlorides, hydrocarbons, heavy metals and other contaminants as a result of oil and gas exploration activities. Experts retained by the plaintiffs issued a report suggesting significant contamination in the area operated by the subsidiary and another codefendant, and claimed that over $300 million would be required to properly remediate the contamination. The experts retained by the defendants conducted their own investigation and concluded that the remediation costs would amount to no more than $2.5 million. The plaintiffs and the codefendant threatened to add GlobalSantaFe as a defendant in the lawsuit under the "single business enterprise" doctrine contained in Louisiana law. The single business enterprise doctrine is similar to corporate veil piercing doctrines. On August 16, 2006, our subsidiary and its immediate parent company, each of which is an entity that no longer conducts operations or holds assets, filed voluntary petitions for relief under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware. Later that day, the plaintiffs dismissed our subsidiary from the lawsuit. Subsequently, the codefendant filed various motions in the lawsuit and in the Delaware bankruptcies attempting to assert alter ego and single business enterprise claims against GlobalSantaFe and two other subsidiaries in the lawsuit. The efforts to assert alter ego and single business enterprise theory claims against GlobalSantaFe were rejected by the Court in Avoyelles Parish, and the lawsuit against the other defendant went to trial on February 19, 2007. This lawsuit was resolved at trial with a settlement by the codefendant that included a $20 million payment and certain cleanup activities to be conducted by the codefendant. The codefendant further claimed to receive a right to continue to pursue the original plaintiff's claims. The codefendant sought to dismiss the bankruptcies. In addition, the codefendant filed proofs of claim against both our subsidiary and its parent with regard to its claims arising out of the settlement of the lawsuit. On February 15, 2008, the Bankruptcy Court denied the codefendant's request to dismiss the bankruptcy case but modified the automatic stay to allow the codefendant to proceed on its claims against the debtors, our subsidiary and its parent, and their insurance companies. The codefendant subsequently filed suit against the debtors and certain of its insurers in the Court of Avoyelles Parish to determine their liability for the settlement. The denial of the motion to dismiss the bankruptcies was appealed. On appeal the bankruptcy cases were ordered to be dismissed, and the bankruptcies were dismissed on June 14, 2010. On March 10, 2010, GlobalSantaFe and the two subsidiaries filed a declaratory judgment action in State District Court in Houston, Texas against the codefendant and the debtors seeking a declaration that GlobalSantaFe and the two subsidiaries had no liability under legal theories advanced by the codefendant. This action is currently stayed. On March 11, 2010, the codefendant filed a motion for leave to amend the pending litigation in Avoyelles Parish to add GlobalSantaFe, Transocean Worldwide Inc., its successor and our wholly owned subsidiary, and one of the subsidiaries as well as various additional insurers. Leave to amend was granted and the amended petition was filed. An extension to respond for all purposes was agreed until April 28, 2010 for the debtors, GlobalSantaFe, Transocean Worldwide Inc. and the subsidiary. On April 28, 2010, GlobalSantaFe and its two subsidiaries filed various exceptions seeking dismissal of the Avoyelles Parish lawsuit, which have been denied. Subsequent to denial supervisory writs were filed with the Third Circuit Court of Appeals for the State of Louisiana. On December 15, 2010, as permitted under the existing Case Management Order, GlobalSantaFe and various subsidiaries served third-party demands joining various insurers in the Avoyelles Parish lawsuit seeking insurance coverage for the claims brought against GlobalSantaFe and various subsidiaries. We believe that these legal theories should not be applied against GlobalSantaFe or Transocean Worldwide Inc. Our subsidiary, its parent and GlobalSantaFe intend to continue to vigorously defend against any action taken in an attempt to impose liability against them under the theories discussed above or otherwise and believe they have good and valid defenses thereto. We do not believe that these claims will have a material impact on our consolidated statement of financial position, results of operations or cash flows. Retained risk Our hull and machinery and excess liability insurance program consists of commercial market and captive insurance policies primarily with 12-month and 11-month policy periods beginning on May 1, 2010 and June 1, 2010, respectively. Under the hull and machinery program, we generally maintain a $125 million per occurrence deductible, limited to a maximum of $250 million per policy period. Subject to the same shared deductible, we also have coverage for costs incurred to mitigate damage to a rig up to an amount equal to 25 percent of a rig's insured value. Also subject to the same shared deductible, we have coverage for wreck removal for an amount up to 25 percent of a rig's insured value, with any excess generally covered to the extent of our excess liability coverage described below. However, the shared deductible is $0 in the event of a total loss or a constructive total loss of a drilling unit. We carry $950 million of commercial market excess liability coverage, exclusive of deductibles and self-insured retention, noted below, which generally covers offshore risks such as personal injury, third-party property claims, and third-party non-crew claims, including wreck removal and pollution. Our excess liability coverage has separate (1) $10 million per occurrence deductibles on crew personal injury liability and on collision liability claims and (2) a separate $5 million per occurrence deductible on other third-party non-crew claims. These types of excess liability coverages are subject to an additional aggregate self-insured retention of $50 million that is applied to any occurrence in excess of the per occurrence deductible until the $50 million is exhausted. We generally retain the risk for any liability losses in excess of $1.0 billion. We also carry $100 million of additional insurance that generally covers expenses that would otherwise be assumed by the well owner, such as costs to control the well, redrill expenses and pollution from the well. This additional insurance provides coverage for such expenses in circumstances in which we have legal or contractual liability arising from our gross negligence or willful misconduct. As of December 31, 2010, the insured value of our drilling rig fleet was approximately $38.5 billion in the aggregate, excluding rigs under construction. We have elected to self-insure operators extra expense coverage for ADTI and CMI. This coverage provides protection against expenses related to well control, pollution and redrill liability associated with blowouts. ADTI's customers assume, and indemnify ADTI for, liability associated with blowouts in excess of a contractually agreed amount, generally $50 million. We generally do not have commercial market insurance coverage for physical damage losses, including liability for wreck removal expenses, to our fleet caused by named windstorms in the U.S. Gulf of Mexico and war perils worldwide. Except with respect to Dhirubhai Deepwater KG1 and Dhirubhai Deepwater KG2, we generally do not carry insurance for loss of revenue unless contractually required. Letters of credit and surety bonds We had letters of credit outstanding totaling $595 million and $567 million at December 31, 2010 and December 31, 2009, respectively. These letters of credit guarantee various import duties, contract bidding and performance activities under various committed and uncommitted credit lines provided by several banks. In April 2010, TPDI obtained a letter of credit in the amount of $60 million to satisfy its liquidity requirements under the TPDI Credit Facilities, which is included in the total as of December 31, 2010. The letter of credit was issued under an uncommitted credit facility that has been established by one of our subsidiaries. See Note 11-Debt. As is customary in the contract drilling business, we also have various surety bonds in place that secure customs obligations relating to the importation of our rigs and certain performance and other obligations. Surety bonds outstanding totaled $27 million and $31 million at December 31, 2010 and December 31, 2009, respectively. |
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Redeemable Noncontrolling Interest | In October 2010, Pacific Drilling's interest in TPDI became redeemable, and we reclassified to temporary equity the carrying amount associated with its interest (see Note 4-Variable Interest Entities). Changes in redeemable noncontrolling interest were as follows:
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Equity | Shares held by subsidiary-In connection with the Redomestication Transaction in December 2008, we issued 16 million of our shares to one of our subsidiaries for future use to satisfy our obligations to deliver shares in connection with awards granted under our incentive plans or other rights to acquire our shares. At December 31, 2010 and December 31, 2009, our subsidiary held 13,291,353 shares and 14,011,416 shares, respectively. Share repurchase program-In May 2009, at our annual general meeting, our shareholders approved and authorized our board of directors, at its discretion, to repurchase an amount of our shares for cancellation with an aggregate purchase price of up to CHF 3.5 billion, which is equivalent to approximately $3.8 billion, using an exchange rate of USD 1.00 to CHF 0.93 as of the close of trading on December 31, 2010. On February 12, 2010, our board of directors authorized our management to implement the share repurchase program. During the year ended December 31, 2010, following the authorization by our board of directors, we repurchased 2,863,267 of our shares under our share repurchase program for an aggregate purchase price of CHF 257 million, equivalent to $240 million. At December 31, 2010, we held 2,863,267 treasury shares purchased under our share repurchase program, recorded at cost. Distribution-In May 2010, at our annual general meeting, our shareholders approved a cash distribution in the form of a par value reduction in the aggregate amount of CHF 3.44 per issued share, equal to approximately $3.70, using an exchange rate of USD 1.00 to CHF 0.93 as of the close of trading on December 31, 2010. According to the May 2010 shareholder resolution and pursuant to applicable Swiss law, we were required to submit an application to the Commercial Register of the Canton of Zug in relation to each quarterly installment to register the relevant partial par value reduction, together with, among other things, a compliance deed issued by an independent notary public. On August 13, 2010, the Commercial Register of the Canton of Zug rejected our application to register the first of the four partial par value reductions. We appealed the Commercial Register's decision, and on December 9, 2010, the Administrative Court of the Canton of Zug rejected our appeal. The Administrative Court held that the statutory requirements for the registration of the par value reduction in the commercial register could not be met given the existence of lawsuits filed in the United States related to the Macondo well incident that were served in Switzerland and the reference to such lawsuits in the compliance deed. The Administrative Court's opinion also held that under these circumstances it was not possible to submit an amended compliance deed. Based on these considerations, we do not believe that a financial obligation existed for the distribution. See Note 25-Subsequent Events. |
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Disclosures related to accounts comprising shareholders' equity, including other comprehensive income. Includes: (1) balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings; (2) accumulated balance for each classification of other comprehensive income and total amount of comprehensive income; (3) amount and nature of changes in separate accounts, including the number of shares authorized and outstanding, number of shares issued upon exercise and conversion, and for other comprehensive income, the adjustments for reclassifications to net income; (4) rights and privileges of each class of stock authorized; (5) basis of treasury stock, if other than cost, and amounts paid and accounting treatment for treasury stock purchased significantly in excess of market; (6) dividends paid or payable per share and in the aggregate for each class of stock for each period presented; (7) dividend restrictions and accumulated preferred dividends in arrears (in aggregate and per share amount); (8) retained earnings appropriations or restrictions, such as dividend restrictions; (9) impact of change in accounting principle, initial adoption of new accounting principle and correction of an error in previously issued financial statements; (10) shares held in trust for Employee Stock Ownership Plan (ESOP); (11) deferred compensation related to issuance of capital stock; (12) note received for issuance of stock; (13) unamortized discount on shares; (14) description, terms and number of warrants or rights outstanding; (15) shares under subscription and subscription receivables; effective date of new retained earnings after quasi-reorganization and deficit eliminated by quasi-reorganization and, for a period of at least ten years after the effective date, the point in time from which the new retained dates; and (16) retroactive effective of subsequent change in capital structure. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Share based compensation
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Share based compensation | Overview-We have (i) a long-term incentive plan (the "Long-Term Incentive Plan") for executives, key employees and outside directors under which awards can be granted in the form of stock options, restricted shares, deferred units, SARs and cash performance awards and (ii) other incentive plans under which awards are currently outstanding. Awards that may be granted under the Long-Term Incentive Plan include traditional time-vesting awards ("time-based awards") and awards that are earned based on the achievement of certain performance criteria ("performance-based awards") or market factors ("market-based awards"). Our executive compensation committee of our board of directors determines the terms and conditions of the awards granted under the Long-Term Incentive Plan. As of December 31, 2010, we had 36 million shares authorized and 16 million shares available to be granted under the Long-Term Incentive Plan. Time-based awards typically vest either in three equal annual installments beginning on the first anniversary date of the grant or in an aggregate installment at the end of the stated vesting period. Performance-based and market-based awards are typically awarded subject to either a two-year or a three-year measurement period during which the number of options, shares or deferred units remains uncertain. At the end of the measurement period, the awarded number of options, shares or deferred units is determined (the "determination date") subject to the stated vesting period. The two-year awards generally vest in three equal installments beginning on the determination date and on January 1 of each of the two subsequent years. The three-year awards generally vest in one aggregate installment following the determination date. Once vested, options and SARs generally have a 10-year term during which they are exercisable. In connection with the Redomestication Transaction, we adopted and assumed the Long-Term Incentive Plan and other employee benefit plans and arrangements of Transocean Inc., and those plans and arrangements were amended as necessary to give effect to the Redomestication Transaction, including to provide (1) that our shares will be issued, held, available or used to measure benefits as appropriate under the plans and arrangements, in lieu of Transocean Inc. ordinary shares, including upon exercise of any options or SARs issued under those plans and arrangements; and (2) for the appropriate substitution of us for Transocean Inc. in those plans and arrangements. Additionally, we issued 16 million of our shares to Transocean Inc., 13 million of which remained available as of December 31, 2010, for future use to satisfy our obligations to deliver shares in connection with awards granted under incentive plans, warrants or other rights to acquire our shares (see Note 16-Shareholders' Equity). As of December 31, 2010, total unrecognized compensation costs related to all unvested share-based awards totaled $99 million, which is expected to be recognized over a weighted-average period of 1.8 years. During the years ended December 31, 2010 and 2009, we recognized additional share-based compensation expense of $12 million and $8 million, respectively, in connection with modifications of share-based awards. During the year ended December 31, 2008, we did not recognize a significant amount of additional share-based compensation expense in connection with modifications of share-based awards. Option valuation assumptions-We estimated the fair value of each option award under the Long-Term Incentive Plan on the grant date using the Black-Scholes-Merton option-pricing model with the following weighted-average assumptions:
We estimated the fair value of each option grant under the Employee Stock Purchase Plan ("ESPP") using the Black-Scholes-Merton option-pricing model with the following weighted-average assumptions:
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Time-Based Awards Stock options-The following table summarizes vested and unvested time-based vesting stock option ("time-based options") activity under our incentive plans during the year ended December 31, 2010:
The weighted-average grant-date fair value of time-based options granted during the year ended December 31, 2010 was $30.03 per share. The total pretax intrinsic value of time-based options exercised during the year ended December 31, 2010 was $11 million. There were 470,400 unvested time-based options outstanding as of December 31, 2010. There were time-based options to purchase 597,898 and 276,281 shares granted during the years ended December 31, 2009 and 2008, respectively, with weighted-average grant-date fair values of $26.07 and $49.32 per share, respectively. There were 980,105 and 1,066,173 time-based options exercised during the years ended December 31, 2009 and 2008, respectively. The total pretax intrinsic value of time-based options exercised was $43 million and $101 million during the years ended December 31, 2009 and 2008, respectively. There were 656,790 and 273,314 unvested time-based options outstanding as of December 31, 2009 and 2008, respectively. Restricted shares-The following table summarizes unvested share activity for time-based vesting restricted shares ("time-based shares") granted under our incentive plans during the year ended December 31, 2010:
We did not grant any time-based shares during the years ended December 31, 2010 and 2009. There were 259,057 time-based shares granted during the year ended December 31, 2008. The weighted-average grant-date fair value of time-based shares granted was $126.26 per share for the year ended December 31, 2008. There were 320,782 and 129,979 time-based shares that vested during the years ended December 31, 2009 and 2008, respectively. The total grant-date fair value of time-based shares that vested was $10 million, $39 million and $14 million for the years ended December 31, 2010, 2009 and 2008, respectively. Deferred units-A deferred unit is a unit that is equal to one share but has no voting rights until the underlying shares are issued. The following table summarizes unvested activity for time-based vesting deferred units ("time-based units") granted under our incentive plans during the year ended December 31, 2010:
The total grant-date fair value of the time-based units vested during the year ended December 31, 2010 was $45 million. There were 1,287,893 and 498,216 time-based units granted during the years ended December 31, 2009 and 2008, respectively. The weighted-average grant-date fair value of time-based units granted was $60.53 and $143.85 per share for the years ended December 31, 2009 and 2008, respectively. There were 282,543 and 25,740 time-based units that vested during the years ended December 31, 2009 and 2008, respectively. The total grant-date fair value of deferred units that vested was $33 million and $3 million for the years ended December 31, 2009 and 2008, respectively. SARs-The following table summarizes share-settled SARs activity under our incentive plans during the year ended December 31, 2010:
At January 1 and December 31, 2010, we have presented the aggregate intrinsic value as zero since the weighted-average exercise price per share exceeded the market price of our shares on those dates. We did not grant share-settled SARs during the years ended December 31, 2010, 2009, and 2008. There were no performance-based options exercised during the year ended December 31, 2010. There were 224 and 315,408 share-settled SARs exercised, with a total pretax intrinsic value of zero, during the years ended December 31, 2009 and 2008, respectively. There were no unvested share-settled SARs outstanding as of December 31, 2010, 2009 and 2008. Performance-Based Awards Stock options-We grant performance-based stock options ("performance-based options") that can be earned depending on the achievement of certain performance targets. The number of options earned is quantified upon completion of the performance period at the determination date. The following table summarizes vested and unvested performance-based option activity under our incentive plans during the year ended December 31, 2010:
At December 31, 2010, we have presented the aggregate intrinsic value as zero since the weighted-average exercise price per share exceeded the market price of our shares on that date. We did not grant performance-based options during the years ended December 31, 2010, 2009 and 2008. There were no performance-based options exercised during the years ended December 31, 2010 and 2009. There were 212,840 performance-based options exercised, with a total pretax intrinsic value of $22 million, during the year ended December 31, 2008. There were no unvested performance-based stock options outstanding as of December 31, 2010, 2009 and 2008. Market-Based Awards Deferred units-We grant market-based deferred units ("market-based units") that can be earned depending on the achievement of certain market conditions. The number of units earned is quantified upon completion of the specified period at the determination date. The following table summarizes unvested activity for market-based units granted under our incentive plans during the year ended December 31, 2010:
There were 285,012 and 99,464 market-based units granted with a weighted-average grant-date fair value of $75.98 and $144.32 per share during the years ended December 31, 2009 and 2008, respectively. No market-based units vested in the years ended December 31, 2009 and 2008. ESPP-Through December 31, 2008, we offered an ESPP under which certain full-time employees could choose to have between two and 20 percent of their annual base earnings withheld to purchase up to $21,150 of our shares each year. The purchase price of the shares was 85 percent of the lower of the beginning-of-year or end-of-year market price of our shares. At December 31, 2008, 577,537 shares were available for issuance under the ESPP. As of January 1, 2009, we discontinued offering the ESPP. |
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Disclosure of compensation-related costs for share-based compensation which may include disclosure of policies, compensation plan details, allocation of stock compensation, incentive distributions, share-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Supplemental Balance Sheet Information
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Supplemental Balance Sheet Information | Other current liabilities were comprised of the following (in millions):
Other long-term liabilities were comprised of the following (in millions):
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Fair Value of Financial Instruments | We estimate the fair value of each class of financial instruments, for which estimating fair value is practicable, by applying the following methods and assumptions: Cash and cash equivalents-The carrying amount of cash and cash equivalents, which are stated at cost plus accrued interest, approximates fair value because of the short maturities of those instruments. Accounts receivable-The carrying amount, net of valuation allowance, approximates fair value because of the short maturities of those instruments. Short-term investments-The carrying amount of our short-term investments approximates fair value and represents our estimate of the amount we expect to recover. Our short-term investments primarily include our investment in The Reserve International Liquidity Fund Ltd. At December 31, 2010, we did not hold any short-term investments. At December 31, 2009, the carrying amount of our short-term investments was $38 million, recorded in other current assets on our consolidated balance sheets (see Note 21-Supplemental Cash Flow Information). Notes receivable and working capital loan receivable-The carrying amount represents the estimated fair value, measured using unobservable inputs that require significant judgment, for which there is little or no market data, including the credit rating of the borrower. At December 31, 2010, the aggregate carrying amount of our notes receivable and working capital loan receivable was $115 million, including $4 million and $111 million recorded in other current assets and other assets, respectively. We did not hold notes receivable as of December 31, 2009. Debt-The fair value of our fixed-rate debt is measured using direct or indirect observable inputs, including quoted prices or other market data, for similar assets or liabilities in active markets or identical assets or liabilities in less active markets. Our variable-rate debt is included in the fair values stated below at its carrying amount since the short-term interest rates cause the face value to approximate its fair value. The TPDI Notes and ODL Loan Facility are included in the fair values stated below at their aggregate carrying amount of $158 million at December 31, 2010 and December 31, 2009, since there is no available market price for such related-party debt (see Note 23-Related Party Transactions). The carrying amounts and estimated fair values of our long-term debt, including debt due within one year, were as follows (in millions):
Derivative instruments-The carrying amount of our derivative instruments represents the estimated fair value, measured using direct or indirect observable inputs, including quoted prices or other market data for similar assets or liabilities in active markets or identical assets or liabilities in less active markets. At December 31, 2010, the carrying amounts of our derivative instruments were $17 million and $13 million, recorded in other assets and other long-term liabilities, respectively, on our consolidated balance sheets. At December 31, 2009, the carrying amounts of our derivative instruments were $5 million and $5 million, recorded in other assets and other long-term liabilities, respectively, on our consolidated balance sheets. |
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This item represents the complete disclosure regarding the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments, assets, and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the Company is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risk is are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Financial Instruments and Risk Concentration
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12 Months Ended |
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Dec. 31, 2010
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Notes to Financial Statements [Abstract] | |
Financial Instruments and Risk Concentration | Interest rate risk-Financial instruments that potentially subject us to concentrations of interest rate risk include our cash equivalents, short-term investments, debt and capital lease obligations. We are exposed to interest rate risk related to our cash equivalents and short-term investments, as the interest income earned on these investments changes with market interest rates. Floating rate debt, where the interest rate can be adjusted every year or less over the life of the instrument, exposes us to short-term changes in market interest rates. Fixed rate debt, where the interest rate is fixed over the life of the instrument and the instrument's maturity is greater than one year, exposes us to changes in market interest rates when we refinance maturing debt with new debt. From time to time, we may use interest rate swap agreements to manage the effect of interest rate changes on future income. These derivatives are used as hedges and are not used for speculative or trading purposes. Interest rate swaps are designated as a hedge of underlying future interest payments. These agreements involve the exchange of amounts based on variable interest rates and amounts based on a fixed interest rate over the life of the agreement without an exchange of the notional amount upon which the payments are based. The interest rate differential to be received or paid on the swaps is recognized over the lives of the swaps as an adjustment to interest expense. Gains and losses on terminations of interest rate swap agreements are deferred and recognized as an adjustment to interest expense over the remaining life of the underlying debt. In the event of the early retirement of a designated debt obligation, any realized or unrealized gain or loss from the swap would be recognized in income. Foreign exchange risk-Our international operations expose us to foreign exchange risk. This risk is primarily associated with compensation costs denominated in currencies other than the U.S. dollar, which is our functional currency, and with purchases from foreign suppliers. We use a variety of techniques to minimize the exposure to foreign exchange risk, including customer contract payment terms and, from time to time, the use of foreign exchange derivative instruments. Our primary foreign exchange risk management strategy involves structuring customer contracts to provide for payment in both U.S. dollars and local currency. The payment portion denominated in local currency is based on anticipated local currency requirements over the contract term. Due to various factors, including customer acceptance, local banking laws, other statutory requirements, local currency convertibility and the impact of inflation on local costs, actual foreign exchange needs may vary from those anticipated in the customer contracts, resulting in partial exposure to foreign exchange risk. Fluctuations in foreign currencies typically have not had a material impact on overall results. In situations where payments of local currency do not equal local currency requirements, we may use foreign exchange derivative instruments, specifically foreign exchange forward contracts, or spot purchases, to mitigate foreign currency risk. A foreign exchange forward contract obligates us to exchange predetermined amounts of specified foreign currencies at specified exchange rates on specified dates or to make an equivalent U.S. dollar payment equal to the value of such exchange. We do not enter into derivative transactions for speculative purposes. Gains and losses on foreign exchange derivative instruments that qualify as accounting hedges are deferred as other comprehensive income and recognized when the underlying foreign exchange exposure is realized. Gains and losses on foreign exchange derivative instruments that do not qualify as hedges for accounting purposes are recognized currently based on the change in market value of the derivative instruments. At December 31, 2010 and 2009, we had no outstanding foreign exchange derivative instruments. Credit risk-Financial instruments that potentially subject us to concentrations of credit risk are primarily cash and cash equivalents, short-term investments and trade receivables. It is our practice to place our cash and cash equivalents in time deposits at commercial banks with high credit ratings or mutual funds, which invest exclusively in high quality money market instruments. We limit the amount of exposure to any one institution and do not believe we are exposed to any significant credit risk. We derive the majority of our revenue from services to international oil companies, government-owned and government-controlled oil companies. Receivables are dispersed in various countries (see Note 22-Segments, Geographical Analysis and Major Customers). We maintain an allowance for doubtful accounts receivable based upon expected collectability and establish reserves for doubtful accounts on a case-by-case basis when we believe the required payment of specific amounts owed to us is unlikely to occur. Although we have encountered isolated credit concerns related to independent oil companies, we are not aware of any significant credit risks related to our customer base and do not generally require collateral or other security to support customer receivables. Labor agreements-We require highly skilled personnel to operate our drilling units. We conduct extensive personnel recruiting, training and safety programs. At December 31, 2010, we had approximately 18,050 employees, including approximately 1,950 persons engaged through contract labor providers. Some of our employees working in Angola, the U.K., Norway and Australia, are represented by, and some of our contracted labor work under, collective bargaining agreements. Many of these represented individuals are working under agreements that are subject to annual salary negotiation. These negotiations could result in higher personnel expenses, other increased costs or increased operational restrictions as the outcome of such negotiations apply to all offshore employees not just the union members. Additionally, the unions in the U.K. sought an interpretation of the application of the Working Time Regulations to the offshore sector. Although the Employment Tribunal endorsed the unions' position that offshore workers are entitled to 28 days of annual leave, at the subsequent appeals to date, both the Employment Appeal Tribunal and the Court of Session have reversed the Employment Tribunal's decision. However, the unions have intimated their intention to lodge a further appeal to the Supreme Court which may not be heard until the fourth quarter of 2011 or 2012. The application of the Working Time Regulations to the offshore sector could result in higher labor costs and could undermine our ability to obtain a sufficient number of skilled workers in the U.K. Legislation has been introduced in the U.S. Congress that could encourage additional unionization efforts in the U.S., as well as increase the chances that such efforts succeed. Additional unionization efforts, if successful, new collective bargaining agreements or work stoppages could materially increase our labor costs and operating restrictions. |
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Description of any concentrations existing at the date of the financial statements that make an entity vulnerable to a reasonably possible, near-term, severe impact. The entity should inform financial statement users about the general nature of the risk associated with the concentration, and may indicate the percentage of concentration risk as of the balance sheet date. Disclosure of any financial instrument credit risk concentration also should indicate the maximum amount of loss that would be incurred upon complete failure of the counterparty to perform and the entity's collateral policies or other policies that limit the loss exposure. This element may be used as a single block of text to encapsulate the entire disclosure including data and tables. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Supplemental Cash Flow Information
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Dec. 31, 2010
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Notes to Financial Statements [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Supplemental Cash Flow Information | We include investments in highly liquid debt instruments with an original maturity of three months or less in cash and cash equivalents. In September 2008, The Reserve announced that certain funds, including The Reserve Primary Fund and The Reserve International Liquidity Fund Ltd. (together, the "Reserve Funds"), had lost the ability to maintain a net asset value of $1.00 per share due to losses in connection with the bankruptcy of Lehman Brothers Holdings, Inc. ("Lehman Holdings"). According to its public disclosures, The Reserve stopped processing redemption requests in order to develop an orderly plan of liquidation that would protect all of the funds' shareholders. At the time of The Reserve's announcements, we had an aggregate investment of $408 million in the Reserve Funds. We collected $37 million, $296 million and $58 million from the Reserve Funds in the years ended December 31, 2010, 2009 and 2008, respectively. As of December 31, 2010, we had collected our total expected recoveries from the Reserve Funds, having recognized losses on impairment of $1 million and $16 million, recorded in other, net in the years ended December 31, 2010 and 2008, respectively. There was no loss on impairment for the year ended December 31, 2009. Net cash provided by (used in) operating activities attributable to the net change in operating assets and liabilities were composed of the following (in millions):
Additional cash flow information were as follows (in millions):
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Designated to encapsulate the entire footnote disclosure that provides information on the supplemental cash flow activities, including cash, noncash, and part noncash transactions, for the period. Noncash is defined as information about all investing and financing activities of an enterprise during a period that affect recognized assets or liabilities but that do not result in cash receipts or cash payments in the period. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or cash payments in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Segments, Geographical Analysis and Major Customers
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Dec. 31, 2010
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Notes to Financial Statements [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Segments, Geographical Analysis and Major Customers | We have established two reportable segments: (1) contract drilling services and (2) other operations. The drilling management services and oil and gas properties businesses do not meet the quantitative thresholds for determining reportable segments and are combined for reporting purposes in the other operations segment. Our contract drilling services segment fleet operates in a single, global market for the provision of contract drilling services. The location of our rigs and the allocation of resources to build or upgrade rigs are determined by the activities and needs of our customers. Operating revenues by country were as follows (in millions):
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Long-lived assets by country were as follows (in millions):
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A substantial portion of our assets are mobile. Asset locations at the end of the period are not necessarily indicative of the geographic distribution of the revenues generated by such assets during the periods. Although we are organized under the laws of Switzerland, we do not conduct any operations and do not have operating revenues in Switzerland. At December 31, 2010 and 2009, we had $15 million and $19 million, respectively, of long-lived assets in Switzerland. Our international operations are subject to certain political and other uncertainties, including risks of war and civil disturbances (or other events that disrupt markets), expropriation of equipment, repatriation of income or capital, taxation policies, and the general hazards associated with certain areas in which operations are conducted. For the years ended December 31, 2010, 2009 and 2008, BP accounted for approximately 10 percent, 12 percent and 11 percent, respectively, of our operating revenues. The loss of this customer or other significant customers could have a material adverse effect on our results of operations. |
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This element may be used to capture the complete disclosure of reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10% or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Related Party Transactions
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12 Months Ended |
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Dec. 31, 2010
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Notes to Financial Statements [Abstract] | |
Related Party Transactions | Pacific Drilling Limited-We hold a 50 percent interest in TPDI, a consolidated British Virgin Islands joint venture company formed by us and Pacific Drilling, a Liberian company, to own and operate Dhirubhai Deepwater KG1 and Dhirubhai Deepwater KG2. Effective October 18, 2010, Pacific Drilling has the unilateral right to exchange its interest in the joint venture for our shares or cash, at an amount based on an appraisal of the fair value of the drillships, subject to certain adjustments. As of December 31, 2010 and 2009, TPDI had outstanding promissory notes in the aggregate amount of $296 million, of which $148 million was due to Pacific Drilling and was included in long-term debt on our consolidated balance sheet. Angco Cayman Limited-We hold a 65 percent interest in ADDCL, a consolidated Cayman Islands joint venture company formed to own and operate Discoverer Luanda. Angco Cayman Limited, a Cayman Islands company, holds the remaining 35 percent interest in ADDCL. Beginning January 31, 2016, Angco Cayman Limited will have the right to exchange its interest in the joint venture for cash at an amount based on the appraisal of the fair value of the drillship, subject to certain adjustments. Overseas Drilling Limited-We hold a 50 percent interest in ODL, an unconsolidated Cayman Islands joint venture company, which owns the Joides Resolution. Siem Offshore Invest AS owns the other 50 percent interest in ODL. Under a management services agreement with ODL, we provide certain operational and management services. We earned $2 million for these services in each of the years ended December 31, 2010, 2009 and 2008. We have a $10 million loan facility with ODL. ODL may demand repayment of the borrowings at any time upon five business days prior written notice, and any amounts due to us from ODL may be offset against the borrowings at the time of repayment. As of December 31, 2010 and 2009, $10 million was outstanding under this loan agreement. |
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This element may be used for the entire related party transactions disclosure as a single block of text. Disclosure may include: the nature of the relationship(s), a description of the transactions, the amount of the transactions, the effects of any change in the method of establishing the terms of the transaction from the previous period, stated interest rate, expiration date, terms and manner of settlement per the agreement with the related party, and amounts due to or from related parties. If the entity and one or more other entities are under common ownership or management control and this control affects the operating results or financial position, disclosure includes the nature of the control relationship even if there are no transactions between the entities. Disclosure may also include the aggregate amount of current and deferred tax expense for each statement of earnings presented where the entity is a member of a group that files a consolidated tax return, the amount of any tax related balances due to or from affiliates as of the date of each statement of financial position presented, the principal provisions of the method by which the consolidated amount of current and deferred tax expense is allocated to the members of the group and the nature and effect of any changes in that method. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Quarterly Results
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Notes to Financial Statements [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Quarterly Results (Unaudited) | Shown below are selected unaudited quarterly data. Amounts are rounded for consistency in presentation with no effect to the results of operations previously reported on Form 10-Q or Form 10-K.
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This element can be used to disclose the entire quarterly financial data disclosure in the annual financial statements as a single block of text. The disclosure includes a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income (loss) before extraordinary items and cumulative effect of a change in accounting principle and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished. Alternatively, the details of this disclosure can be reported using the elements in this group, or by using other taxonomy elements and applying the appropriate quarterly date and period contexts when creating an instance document. For example, the element for "Interest and Dividend Income, Operating" may be used by financial institutions from the Statement of Income, applying the appropriate quarterly date and period context when creating an instance document. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Subsequent Events
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Dec. 31, 2010
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Notes to Financial Statements [Abstract] | |
Subsequent Events (Unaudited) | Debt-On December 31, 2010, Transocean Inc. called the remaining Series A Convertible Senior Notes for redemption. On January 31, 2011, we redeemed the remaining aggregate principal amount of $11 million of our Series A Convertible Senior Notes for an aggregate cash payment of $11 million. As a result, no Series A Convertible Senior Notes remain outstanding as of January 31, 2011. Disposition-Subsequent to December 31, 2010, we completed the sale of the High-Specification Jackup Trident 20 and received net cash proceeds of $262 million. Distribution-On January 24, 2011, we filed an appeal on the decision of the Administrative Court of the Canton of Zug to the Swiss Federal Supreme Court. On February 11, 2011, our board of directors recommended that shareholders at the May 2011 annual general meeting approve a U.S. dollar-denominated dividend of approximately U.S. $1 billion out of qualifying additional paid-in capital and payable in four quarterly installments. The board of directors expects that the four payment dates will be set in June 2011, September 2011, December 2011 and March 2012. The proposed dividend will, among other things, be contingent on shareholders approving at the same meeting a rescission of the 2010 distribution. Due to, among other things, the uncertainty of the timing and outcome of the pending appeal with the Swiss Federal Supreme Court, our board of directors believes it is in the best interest of the Company to discontinue with the disputed 2010 distribution and to file a request to stay the pending appeal with the Swiss Federal Supreme Court against the decision of the Administrative Court until shareholders have voted on the proposed rescission. |
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Describes disclosed significant events or transactions that occurred after the balance sheet date, but before the issuance of the financial statements. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, losses resulting from fire or flood, losses on receivables, significant realized and unrealized gains and losses that result from changes in quoted market prices of securities, declines in market prices of inventory, changes in authorized or issued debt (SEC), significant foreign exchange rate changes, substantial loans to insiders or affiliates, significant long-term investments, and substantial dividends not in the ordinary course of business. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Significant Accounting Policies (Policies)
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12 Months Ended |
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Dec. 31, 2010
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Notes to Financial Statements [Abstract] | |
Accounting estimates | The preparation of financial statements in accordance with accounting principles generally accepted in the United States ("U.S.") requires us to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses and the disclosures of contingent assets and liabilities. On an ongoing basis, we evaluate our estimates and assumptions, including those related to our allowance for doubtful accounts, materials and supplies obsolescence, property and equipment, investments, notes receivable, goodwill and other intangible assets, income taxes, share-based compensation, defined benefit pension plans and other postretirement benefits and contingencies. We base our estimates and assumptions on historical experience and on various other factors we believe are reasonable under the circumstances, the results of which form the basis for making judgments about the carrying amounts of assets and liabilities that are not readily apparent from other sources. Actual results could differ from such estimates. |
Fair value measurements | We estimate fair value at a price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants in the principal market for the asset or liability. Our valuation techniques require inputs that we categorize using a three-level hierarchy, from highest to lowest level of observable inputs, as follows: (1) unadjusted quoted prices for identical assets or liabilities in active markets ("Level 1"), (2) direct or indirect observable inputs, including quoted prices or other market data, for similar assets or liabilities in active markets or identical assets or liabilities in less active markets ("Level 2") and (3) unobservable inputs that require significant judgment for which there is little or no market data ("Level 3"). When multiple input levels are required for a valuation, we categorize the entire fair value measurement according to the lowest level of input that is significant to the measurement even though we may have also utilized significant inputs that are more readily observable. |
Principles of consolidation | We consolidate entities in which we have a majority voting interest and entities that meet the criteria for variable interest entities for which we are deemed to be the primary beneficiary for accounting purposes. We eliminate intercompany transactions and accounts in consolidation. We apply the equity method of accounting for investments in entities if we have the ability to exercise significant influence over an entity that (a) does not meet the variable interest entity criteria or (b) meets the variable interest entity criteria, but for which we are not deemed to be the primary beneficiary. We apply the cost method of accounting for investments in other entities if we do not have the ability to exercise significant influence over the unconsolidated affiliate. See Note 4-Variable Interest Entities. Our investments in and advances to unconsolidated affiliates, recorded in other assets on our consolidated balance sheets, had carrying amounts of $19 million and $11 million at December 31, 2010 and 2009, respectively. We recognized equity in earnings of unconsolidated affiliates, recorded in other, net, on our consolidated statements of operations, in the amount of $8 million, $2 million and $2 million for the years ended December 31, 2010, 2009 and 2008, respectively. |
Cash and cash equivalents | Cash equivalents are highly liquid debt instruments with original maturities of three months or less that may include time deposits with commercial banks that have high credit ratings, U.S. Treasury and government securities, Eurodollar time deposits, certificates of deposit and commercial paper. We may also invest excess funds in no-load, open-end, management investment trusts ("management trusts"). The management trusts invest exclusively in high-quality money market instruments. |
Allowance for doubtful accounts | We establish an allowance for doubtful accounts on a case-by-case basis, considering changes in the financial position of a major customer, when we believe the required payment of specific amounts owed is unlikely to occur. We derive a majority of our revenues from services to international oil companies and government-owned or government-controlled oil companies. We evaluate the credit quality of our customers on an ongoing basis, and we do not generally require collateral or other security to support customer receivables. The allowance for doubtful accounts was $38 million and $65 million at December 31, 2010 and 2009, respectively. |
Materials and supplies | Materials and supplies are carried at average cost less an allowance for obsolescence. The allowance for obsolescence was $70 million and $66 million at December 31, 2010 and 2009, respectively. |
Property and equipment | Property and equipment, consisting primarily of offshore drilling rigs and related equipment, represented approximately 58 percent of our total assets at December 31, 2010. The carrying amounts of these assets are based on estimates, assumptions and judgments relative to capitalized costs, useful lives and salvage values of our rigs. These estimates, assumptions and judgments reflect both historical experience and expectations regarding future industry conditions and operations. We compute depreciation using the straight-line method after allowing for salvage values. We capitalize expenditures for renewals, replacements and improvements, and we expense maintenance and repair costs as incurred. Upon sale or other disposition of an asset, we recognize a net gain or loss on disposal of the asset, which is measured as the difference between the net carrying amount of the asset and the net proceeds received. Estimated original useful lives of our drilling units range from 18 to 35 years, buildings and improvements from 10 to 30 years and machinery and equipment from four to 12 years. From time to time, we may review the estimated remaining useful lives of our drilling units, and we may extend the useful life when events and circumstances indicate a drilling unit can operate beyond its remaining useful life. During 2010, we adjusted the useful lives for five rigs, extending the estimated useful lives from between 20 and 36 years to between 25 and 39 years. During 2009, we adjusted the useful lives for 10 rigs, extending the estimated useful lives from between 30 and 35 years to between 33 and 50 years. During 2008, we adjusted the useful lives for five rigs, extending the estimated useful lives from between 30 and 35 years to between 34 and 50 years. We deemed the life extensions appropriate for each of these rigs based on the respective contracts under which the rigs were operating and the additional life-extending work, upgrades and inspections we performed on the rigs. For each of the years ended December 31, 2010, 2009 and 2008, the changes in estimated useful lives of these rigs resulted in a reduction in depreciation expense of $23 million ($0.07 per diluted share), $23 million ($0.07 per diluted share) and $6 million ($0.02 per diluted share), respectively, which had no tax effect for any period. During 2008, we also adjusted the useful lives for four rigs that we acquired through a merger transaction (the "Merger") with GlobalSantaFe Corporation ("GlobalSantaFe"), reducing the estimated useful lives from between eight and 16 years to between three and nine years. We determined the appropriate useful lives for each of these rigs based on our review of technical specifications of the rigs and comparisons to the remaining useful lives of comparable rigs in our fleet. In 2008, the change in estimated useful life of these rigs resulted in an increase in depreciation expense of $46 million ($0.14 per diluted share), which had no tax effect. See Note 9-Drilling Fleet. |
Assets held for sale | We classify an asset as held for sale when the facts and circumstances meet the criteria for such classification, including the following: (a) we have committed to a plan to sell the asset, (b) the asset is available for immediate sale, (c) we have initiated actions to complete the sale, including locating a buyer, (d) the sale is expected to be completed within one year, (e) the asset is being actively marketed at a price that is reasonable relative to its fair value, and (f) the plan to sell is unlikely to be subject to significant changes or termination. At December 31, 2010, assets held for sale were less than $1 million. At December 31, 2009, we had assets held for sale, included in current assets, in the amount of $186 million. See Note 9-Drilling Fleet and Note 25-Subsequent Events. |
Long-lived assets and definite-lived intangible assets | We review the carrying amounts of long-lived assets and definite-lived intangible assets, principally property and equipment and a drilling management services customer relationships intangible asset, for potential impairment when events occur or circumstances change that indicate that the carrying value of such assets may not be recoverable. For assets classified as held and used, we determine recoverability by evaluating the undiscounted estimated future net cash flows, based on projected dayrates and utilization, of the asset group under review. We consider our asset groups to be Ultra-Deepwater Floaters, Deepwater Floaters, Harsh Environment Floaters, Midwater Floaters, High-Specification Jackups, Standard Jackups and Other Rigs. When an impairment of one or more of our asset groups is indicated, we measure the impairment as the amount to which the asset group's carrying amount exceeds its fair value. We measure the fair values of our contract drilling asset groups by applying a combination of income and market approaches, using projected discounted cash flows and estimates of the exchange price that would be received for the assets in the principal or most advantageous market for the assets in an orderly transaction between market participants as of the measurement date. For our drilling management services customer relationships asset, we estimate fair value using the excess earnings method, which applies the income approach. For an asset classified as held for sale, we consider the asset to be impaired to the extent its carrying amount exceeds fair value less cost to sell. In the years ended December 31, 2010, 2009 and 2008, respectively, we concluded that our Standard Jackup asset group, customer relationships intangible asset and our assets held for sale were impaired. See Note 5-Impairments and Note 10-Goodwill and Other Intangible Assets. |
Goodwill and other indefinite-lived intangible assets | We conduct impairment testing for our goodwill and other indefinite-lived intangible assets annually as of October 1 and more frequently, on an interim basis, when an event occurs or circumstances change that may indicate a reduction in the fair value of a reporting unit or the indefinite-lived intangible asset is below its carrying value. We test goodwill at the reporting unit level, which is defined as an operating segment or a component of an operating segment that constitutes a business for which financial information is available and is regularly reviewed by management. We have identified three reporting units for this purpose: (1) contract drilling services, (2) drilling management services and (3) oil and gas properties. We test goodwill for impairment by comparing the carrying amount of the reporting unit, including goodwill, to the fair value of the reporting unit. For our contract drilling services reporting unit, we estimate fair value using projected discounted cash flows, publicly traded company multiples and acquisition multiples. To develop the projected cash flows associated with our contract drilling services reporting unit, which are based on estimated future dayrates and utilization, we consider key factors that include assumptions regarding future commodity prices, credit market conditions and the effect these factors may have on our contract drilling operations and the capital expenditure budgets of our customers. We discount the projected cash flows using a long-term weighted-average cost of capital, which is based on our estimate of the investment returns that market participants would require for each of our reporting units. We derive publicly traded company multiples for companies with operations similar to our reporting units using observable information related to shares traded on stock exchanges and, when available, observable information related to recent acquisitions. If the reporting unit's carrying amount exceeds its fair value, we consider goodwill impaired and perform a second step to measure the amount of the impairment loss, if any. As a result of our annual impairment testing in each of the years ended December 31, 2010 and 2009, we concluded that goodwill was not impaired. As a result of our interim impairment testing in the year ended December 31, 2010, we concluded that the goodwill associated with our oil and gas properties reporting unit was impaired. As a result of our annual impairment testing in the year ended December 31, 2008, we concluded that the goodwill associated with our drilling management services reporting unit was impaired. See Note 5-Impairments and Note 10-Goodwill and Other Intangible Assets. For our trade name intangible asset, which we have identified as indefinite-lived, we estimate fair value using the relief from royalty method, which applies the income approach. As a result of our annual impairment testing in the year ended December 31, 2010, we concluded that the trade name intangible asset for our drilling management services reporting unit was not impaired. As a result of interim impairment testing in the year ended December 31, 2009 and as a result of our annual impairment testing in the year ended December 31, 2008, we concluded that the trade name intangible asset for our drilling management services reporting unit was impaired. See Note 5-Impairments and Note 10-Goodwill and Other Intangible Assets. |
Contingent liabilities | We establish liabilities for estimated loss contingencies when we believe a loss is probable and the amount of the probable loss can be reasonably estimated. Once established, we adjust the carrying amount of a contingent liability upon the occurrence of a recognizable event when facts and circumstances change, altering our previous assumptions with respect to the likelihood or amount of loss. See Note 14-Commitments and Contingencies. |
Operating revenues and expenses | We recognize operating revenues as they are earned, based on contractual daily rates or on a fixed-price basis. In connection with drilling contracts, we may receive revenues for preparation and mobilization of equipment and personnel or for capital improvements to rigs. In connection with new drilling contracts, revenues earned and incremental costs incurred directly related to contract preparation and mobilization are deferred and recognized over the primary contract term of the drilling project using the straight-line method. Our policy to amortize the fees related to contract preparation, mobilization and capital upgrades on a straight-line basis over the estimated firm period of drilling is consistent with the general pace of activity, level of services being provided and dayrates being earned over the life of the contract. For contractual daily rate contracts, we account for loss contracts as the losses are incurred. Costs of relocating drilling units without contracts to more promising market areas are expensed as incurred. Upon completion of drilling contracts, any demobilization fees received are reported in income, as are any related expenses. Capital upgrade revenues received are deferred and recognized over the primary contract term of the drilling project. The actual cost incurred for the capital upgrade is depreciated over the estimated useful life of the asset. We incur periodic survey and drydock costs in connection with obtaining regulatory certification to operate our rigs on an ongoing basis. Costs associated with these certifications are deferred and amortized on a straight-line basis over the period until the next survey. |
Contract drilling intangible revenues | In connection with the Merger, we acquired drilling contracts for future contract drilling services of GlobalSantaFe. The terms of these contracts include fixed dayrates that were above or below the market dayrates available for similar contracts as of the date of the Merger. We recognized the fair value adjustments as contract intangible assets and liabilities, recorded in other assets and other long-term liabilities, respectively. We amortize the resulting contract drilling intangible revenues on a straight-line basis over the respective contract period. During the years ended December 31, 2010, 2009 and 2008, we recognized contract intangible revenues of $98 million, $281 million and $690 million, respectively. See Note 10-Goodwill and Other Intangible Assets. |
Other revenues | Our other revenues represent those derived from drilling management services, integrated services, oil and gas properties, and customer reimbursable revenues. For fixed-price contracts associated with our drilling management services, we recognize revenues and expenses upon well completion and customer acceptance, and we recognize loss provisions on contracts in progress when losses are anticipated. We refer to integrated services as those services we provide through contractors and our employees under certain contracts that include well and logistics services in addition to our normal drilling services. We consider customer reimbursable revenues to be billings to our customers for reimbursement of certain equipment, materials and supplies, third-party services, employee bonuses and other expenses that we recognize in operating and maintenance expense, the result of which has little or no effect on operating income. |
Share-based compensation | For time-based awards, we recognize compensation expense on a straight-line basis through the date the employee is no longer required to provide service to earn the award (the "service period"). For market-based awards that vest at the end of the service period, we recognize compensation expense on a straight-line basis through the end of the service period. For performance-based awards with graded vesting conditions, we recognize compensation expense on a straight-line basis over the service period for each separately vesting portion of the award as if the award was, in substance, multiple awards. Share-based compensation expense is recognized, net of a forfeiture rate, estimated at the time of grant based on historical experience and adjusted, if necessary, in subsequent periods based on actual forfeitures. To measure the fair values of time-based restricted shares and deferred units granted or modified, we use the market price of our shares on the grant date or modification date. To measure the fair values of stock options and stock appreciation rights ("SARs") granted or modified, we use the Black-Scholes-Merton option-pricing model and apply assumptions for the expected life, risk-free interest rate, dividend yield and expected volatility. The expected life is based on historical information of past employee behavior regarding exercises and forfeitures of options. The risk-free interest rate is based upon the published U.S. Treasury yield curve in effect at the time of grant or modification for instruments with a similar life. The dividend yield is based on our history and expectation of dividend payouts. The expected volatility is based on a blended rate with an equal weighting of the (a) historical volatility based on historical data for an amount of time approximately equal to the expected life and (b) implied volatility derived from our at-the-money long-dated call options. To measure the fair values of market-based deferred units granted or modified, we use a Monte Carlo simulation model and, in addition to the assumptions applied for the Black-Scholes-Merton option-pricing model, we apply assumptions using a risk neutral model and an average price at the performance start date. The risk neutral model assumes that all peer group stocks grow at the risk-free rate. The average price at the performance start date is based on the average stock price for the preceding 30 trading days. We recognize share-based compensation expense in the same financial statement line item as cash compensation paid to the respective employees. Tax deduction benefits for awards in excess of recognized compensation costs are reported as a financing cash flow. Share-based compensation expense was $102 million, $81 million and $64 million in the years ended December 31, 2010, 2009 and 2008, respectively. Income tax benefit on share-based compensation expense was $10 million, $8 million, and $8 million in the years ended December 31, 2010, 2009 and 2008, respectively. See Note 17-Share-Based Compensation Plans. |
Pension and other postretirement benefits | We use a measurement date of January 1 for determining net periodic benefit costs and December 31 for determining benefit obligations and the fair value of plan assets. We determine our net periodic benefit costs based on a market-related valuation of assets that reduces year-to-year volatility by recognizing investment gains or losses over a five-year period from the year in which they occur. Investment gains or losses for this purpose are measured as the difference between the expected return calculated using the market-related value of assets and the actual return based on the market-related value of assets. The obligations and related costs for our defined benefit pension and other postretirement benefit plans, retiree life insurance and medical benefits, are actuarially determined by applying assumptions, including long-term rate of return on plan assets, discount rates, compensation increases, employee turnover rates and health care cost trend rates. The two most critical assumptions are the long-term rate of return on plan assets and the discount rate. For the long-term rate of return, we develop our assumptions regarding the expected rate of return on plan assets based on historical experience and projected long-term investment returns, which are weighted to consider each plan's target asset allocation. For the discount rate, we base our assumptions on a yield curve approach using Aa-rated corporate bonds and the expected timing of future benefit payments. For the projected compensation trend rate, we consider short-term and long-term compensation expectations for participants, including salary increases and performance bonus payments. For the health care cost trend rate for other postretirement benefits, we establish our assumptions for health care cost trends, applying an initial trend rate that reflects both our recent historical experience and broader national statistics with an ultimate trend rate that assumes that the portion of gross domestic product devoted to health care eventually becomes constant. Pension and other postretirement benefit plan obligations represented an aggregate liability in the amount of their net underfunded status of $469 million and $514 million, at December 31, 2010 and 2009, respectively. Net periodic benefit costs were $91 million, $87 million and $47 million for the years ended December 31, 2010, 2009 and 2008, respectively. See Note 13-Postemployment Benefit Plans. |
Capitalized interest | We capitalize interest costs for qualifying construction and upgrade projects. We capitalized interest costs on construction work in progress of $89 million, $182 million and 147 million for the years ended December 31, 2010, 2009 and 2008, respectively. |
Derivatives and hedging | From time to time, we may enter into a variety of derivative financial instruments in connection with the management of our exposure to variability in foreign exchange rates and interest rates. We record derivatives on our consolidated balance sheet, measured at fair value. For derivatives that do not qualify for hedge accounting, we recognize the gains and losses associated with changes in the fair value in current period earnings. See Note 12-Derivatives and Hedging and Note 20-Financial Instruments and Risk Concentration. We may enter into cash flow hedges to manage our exposure to variability of the expected future cash flows of recognized assets or liabilities or of unrecognized forecasted transactions. For a derivative that is designated and qualifies as a cash flow hedge, we initially recognize the effective portion of the gains or losses in other comprehensive income and subsequently recognize the gains and losses in earnings in the period in which the hedged forecasted transaction affects earnings. We recognize the gains and losses associated with the ineffective portion of the hedges in interest expense in the period in which they are realized. We may enter into fair value hedges to manage our exposure to changes in fair value of recognized assets or liabilities, such as fixed-rate debt, or of unrecognized firm commitments. For a derivative that is designated and qualifies as a fair value hedge, we simultaneously recognize in current period earnings the gains or losses on the derivative along with the offsetting losses or gains on the hedged item attributable to the hedged risk. The resulting ineffective portion, which is measured as the difference between the change in fair value of the derivative and the hedged item, is recognized in current period earnings. |
Foreign currency | The majority of our revenues and expenditures are denominated in U.S. dollars to limit our exposure to foreign currency fluctuations, resulting in the use of the U.S. dollar as the functional currency for all of our operations. Foreign currency exchange gains and losses are primarily included in other income (expense) as incurred. We had a net foreign currency exchange gain of less than $1 million for the year ended December 31, 2010. We had net foreign currency exchange losses of $34 million and $3 million for the years ended December 31, 2009 and 2008, respectively. |
Income taxes | We provide for income taxes based upon the tax laws and rates in effect in the countries in which operations are conducted and income is earned. There is little or no expected relationship between the provision for or benefit from income taxes and income or loss before income taxes because the countries in which we operate have taxation regimes that vary not only with respect to nominal rate, but also in terms of the availability of deductions, credits and other benefits. Variations also arise because income earned and taxed in any particular country or countries may fluctuate from year to year. We recognize deferred tax assets and liabilities for the anticipated future tax effects of temporary differences between the financial statement basis and the tax basis of our assets and liabilities using the applicable jurisdictional tax rates in effect at year end. We record a valuation allowance for deferred tax assets when it is more likely than not that some or all of the benefit from the deferred tax asset will not be realized. We provide a valuation allowance to offset deferred tax assets for net operating losses ("NOL") incurred during the year in certain jurisdictions and for other deferred tax assets where, in our opinion, it is more likely than not that the financial statement benefit of these losses will not be realized. We provide a valuation allowance for foreign tax credit carryforwards to reflect the possible expiration of these benefits prior to their utilization. We maintain liabilities for estimated tax exposures in our jurisdictions of operation, and the provisions and benefits resulting from changes to those liabilities are included in our annual tax provision along with related interest and penalties. Tax exposure items include potential challenges to permanent establishment positions, intercompany pricing, disposition transactions, and withholding tax rates and their applicability. These exposures are resolved primarily through the settlement of audits within these tax jurisdictions or by judicial means, but can also be affected by changes in applicable tax law or other factors, which could cause us to revise past estimates. See Note 6-Income Taxes. |
Reclassifications | We have made certain reclassifications to prior period amounts to conform with the current year's presentation. These reclassifications did not have a material effect on our consolidated statement of financial position, results of operations or cash flows. |
Subsequent events | We evaluate subsequent events through the time of our filing on the date we issue our financial statements. See Note 25-Subsequent Events. |
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Describes how an entity determines the level of its allowance for doubtful accounts for its trade and other accounts receivable balances. No definition available.
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Describes an entity's accounting policy for assets held for sale and the conditions under which an asset is reclassified to held for sale status. No definition available.
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Describes an entity's accounting policy for capitalizing interest on qualifying construction and upgrade projects. No definition available.
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Describes an entity's accounting policy for contract drilling intangible revenues. No definition available.
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Describes an entity's accounting policy for determining the fair value of its financial instruments and liabilities. Describes the valuation techniques utilized by entity and discloses the hierarchy level for each asset or liability evaluated and the means of completing the evaluation. No definition available.
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Describes an entity's accounting policy for long-lived and definite-lived intangible assets. This accounting policy may address the conditions under which impairment testing might be performed and how fair value is measured for long-lived assets and definite-lived intangible assets. No definition available.
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Describes an entity's accounting policies for materials and supplies, especially with regard to its allowance for obsolescence. No definition available.
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Describes an entity's accounting policy for recognition of operating revenues and costs. No definition available.
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Describes an entity's accounting policy for the recognition of other revenues derived from drilling management services, integrated services, oil and gas properties, and customer reimbursable revenues. No definition available.
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Describes an entity's accounting policy for its pension and other postretirement benefit plans. This disclosure may address (1) how plan assets, liabilities and expenses are measured, including the use of actuaries and (2) significant assumptions used by the entity to value plan assets and liabilities and how such assumptions are derived. No definition available.
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Describes an entity's accounting policy regarding its principles of consolidation for variable interest entities. Describes an entity's accounting policy for consolidated subsidiaries and variable interest entities or other unconsolidated investments, including the accounting treatment for intercompany accounts or transactions and noncontrolling interest. No definition available.
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Classifications in the current financial statements may be different from classifications in the prior year's financial statements. Disclose any material changes in classification including an explanation of the reason for the change and the areas impacted. No definition available.
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This element describes an entity's accounting policy for share based compensation in the form of stock options and stock incentive plans. This disclosure may include (1) the types of stock option or incentive plans sponsored by the entity (2) the groups that participate in (or are covered by) each plan (3) significant plan provisions and (4) how stock compensation is measured, and the methodologies and significant assumptions used to determine that measurement. No definition available.
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Describes an entity's accounting policy for disclosing any material or significant events or transactions that occurred after the balance sheet date. No definition available.
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Provides an entity's explanation that the preparation of financial statements in conformity with generally accepted accounting principles requires the use of management estimates. The disclosure should indicate the nature of the uncertainty and include an indication that it is at least reasonably possible that a change in the estimate will occur in the near term. Disclosure of the factors that cause the estimate to be sensitive to change also is encouraged. No definition available.
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A description of a company's cash and cash equivalents accounting policy. An entity shall disclose its policy for determining which items are treated as cash equivalents. Other information that may be disclosed includes (1) the nature of any restrictions on the entity's use of its cash and cash equivalents, (2) whether the entity's cash and cash equivalents are insured or expose the entity to credit risk, (3) the classification of any negative balance accounts (overdrafts), and (4) the carrying basis of cash equivalents (for example, at cost) and whether the carrying amount of cash equivalents approximates fair value. Cash includes currency on hand as well as demand deposits with banks or financial institutions. It also includes other kinds of accounts that have the general characteristics of demand deposits in that the customer may deposit additional funds at any time and also effectively may withdraw funds at any time without prior notice or penalty. In addition, cash equivalents include short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Generally, only investments with original maturities of three months or less qualify under that definition. Original maturity means original maturity to the entity holding the investment. For example, both a three-month US Treasury bill and a three-year Treasury note purchased three months from maturity qualify as cash equivalents. However, a Treasury note purchased three-years ago does not become a cash equivalent when its remaining maturity is three months. For a bank, may include explanation and amount of requirement to maintain reserves against deposits. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Describes an entity's accounting policy for commitments and contingencies, which may include policies for recognizing and measuring loss and gain contingencies. No definition available.
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Describes an entity's accounting policies for its derivative instruments and hedging activities. Disclosure may include: (1) Each method used to account for derivative financial instruments and derivative commodity instruments ("derivatives"); (2) the types of derivatives accounted for under each method; (3) the criteria required to be met for each accounting method used, including a discussion of the criteria required to be met for hedge or deferral accounting and accrual or settlement accounting (for example: whether and how risk reduction, correlation, designation, and effectiveness tests are applied); (4) the accounting method used if the criteria specified for hedge accounting are not met; (5) the method used to account for termination of derivatives designated as hedges or derivatives used to affect directly or indirectly the terms, fair values, or cash flows of a designated item; (6) the method used to account for derivatives when the designated item matures, is sold, is extinguished, or is terminated. In addition, the method used to account for derivatives designated to an anticipated transaction, when the anticipated transaction is no longer likely to occur; and (7) where and when derivatives, and their related gains (losses) are reported in the statement of financial position, cash flows, and results of operations and (8) an accounting policy decision to offset fair value amounts with counterparties. An entity should also consider describing its embedded derivatives, and the method(s) used to determine the fair values of derivatives and any significant assumptions used in such valuations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Describes a reporting enterprise's accounting policy for (1) transactions denominated in a currency other than the reporting enterprise's functional currency, (2) translating foreign currency financial statements that are incorporated into the financial statements of the reporting enterprise by consolidation, combination, or the equity method of accounting, and (3) remeasurement of the financial statements of a foreign reporting enterprise in a hyperinflationary economy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Describes an entity's accounting policy for goodwill and intangible assets. This accounting policy also may address how an entity assesses and measures impairment of goodwill and intangible assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Describes an entity's accounting policy for income taxes, which may include its accounting policies for recognizing and measuring deferred tax assets and liabilities and related valuation allowances, recognizing investment tax credits, operating loss carryforwards, tax credit carryforwards, and other carryforwards, methodologies for determining its effective income tax rate and the characterization of interest and penalties in the financial statements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Describes an entity's accounting policy for property, plant and equipment which may include the basis of such assets, depreciation methods used and estimated useful lives, the entity's capitalization policy, including its accounting treatment for costs incurred for repairs and maintenance activities, whether such asset balances include capitalized interest and the method by which such is calculated, how disposals of such assets are accounted for and how impairment of such assets is assessed and recognized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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New Accounting Pronouncements (Policies)
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Dec. 31, 2010
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Notes to Financial Statements [Abstract] | |
Consolidation | Effective January 1, 2010, we adopted the accounting standards update that requires enhanced transparency of our involvement with variable interest entities, which (a) amends certain guidance for determining whether an enterprise is a variable interest entity, (b) requires a qualitative rather than a quantitative analysis to determine the primary beneficiary, and (c) requires continuous assessments of whether an enterprise is the primary beneficiary of a variable interest entity. We evaluated these requirements, particularly with regard to our interests in Transocean Pacific Drilling Inc. ("TPDI") and Angola Deepwater Drilling Company Limited ("ADDCL") and our adoption did not have a material effect on our consolidated statement of financial position, results of operations or cash flows. See Note 4-Variable Interest Entities. |
Fair value measurements and disclosures | We estimate fair value at a price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants in the principal market for the asset or liability. Our valuation techniques require inputs that we categorize using a three-level hierarchy, from highest to lowest level of observable inputs, as follows: (1) unadjusted quoted prices for identical assets or liabilities in active markets ("Level 1"), (2) direct or indirect observable inputs, including quoted prices or other market data, for similar assets or liabilities in active markets or identical assets or liabilities in less active markets ("Level 2") and (3) unobservable inputs that require significant judgment for which there is little or no market data ("Level 3"). When multiple input levels are required for a valuation, we categorize the entire fair value measurement according to the lowest level of input that is significant to the measurement even though we may have also utilized significant inputs that are more readily observable. |
Subsequent events | We evaluate subsequent events through the time of our filing on the date we issue our financial statements. See Note 25-Subsequent Events. |
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Describes an entity's accounting policy for determining the fair value of its financial instruments and liabilities. Describes the valuation techniques utilized by entity and discloses the hierarchy level for each asset or liability evaluated and the means of completing the evaluation. No definition available.
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- Definition
Describes an entity's accounting policy for disclosing any material or significant events or transactions that occurred after the balance sheet date. No definition available.
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X | ||||||||||
- Definition
Describes an entity's accounting policy regarding (1) the principles it follows in consolidating or combining the separate financial statements, including the principles followed in determining the inclusion or exclusion of subsidiaries or other entities in the consolidated or combined financial statements and (2) its treatment of interests (for example common stock, a partnership interest or other means of exerting influence) in other entities, for example consolidation or use of the equity or cost methods of accounting. An entity also may describe its accounting treatment for intercompany accounts and transactions, noncontrolling interest, and the income statement treatment in consolidation for issuances of stock by a subsidiary. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Variable Interest Entities (Tables)
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12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2010
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Notes to Financial Statements [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Carrying Amounts of Variable Interest Entities | The carrying amounts associated with these joint venture companies, after eliminating the effect of intercompany transactions, were as follows (in millions):
|
X | ||||||||||
- Definition
Disclosure of the carrying amounts of variable interest entities (VIE), including assets, liabilities, and net carrying amount. No definition available.
|
X | ||||||||||
- Details
|
Income Taxes (Tables)
|
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2010
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Notes to Financial Statements [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Components of the provision (benefit) for income taxes | The components of our provision (benefit) for income taxes were as follows (in millions):
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Reconciliation of the differences between income tax expense computed at the Swiss holding company statutory rate and the reported provision for income taxes | A reconciliation of the differences between our income tax expense computed at the Swiss holding company statutory rate of 7.83 percent and our reported provision for income taxes for the years ended December 31, 2010 and 2009, was as follows (in millions):
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Significant components of deferred tax assets and liabilities | The significant components of our deferred tax assets and liabilities were as follows (in millions):
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Reconciliation of unrecognized tax benefits, excluding interest and penalties, and liabilities related to unrecognized tax benefits, including related interest and penalties, recognized as a component of income tax expense | The following is a reconciliation of our unrecognized tax benefits, excluding interest and penalties (in millions):
The liabilities related to our unrecognized tax benefits, including related interest and penalties that we recognize as a component of income tax expense, were as follows (in millions):
|
X | ||||||||||
- Definition
Schedule of the components of the provision (benefit) for income taxes, including the effective tax rate. No definition available.
|
X | ||||||||||
- Definition
Reconciliation of the differences between income tax expense computed at the Swiss holding company statutory rate and the reported provision for income taxes. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Schedule of the significant components of deferred tax assets and liabilities. No definition available.
|
X | ||||||||||
- Definition
The disclosure required for tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities (i.e., uncertain tax positions) and other types of income tax contingencies, including: (1) the policy on classification of interest and penalties; (2) a tabular reconciliation of the total amounts of unrecognized tax benefits at the beginning and end of the period; the total amount(s) of: (3) unrecognized tax benefits that, if recognized, would affect the effective tax rate, and (4) interest and penalties recognized in each of the income statement and balance sheet; (5) for positions for which it is reasonably possible that the total amounts unrecognized will significantly change within 12 months of the reporting date the: (i) nature of the uncertainty, (ii) nature of the event that could occur that would cause the change, and (iii) an estimate of the range of the reasonably possible change or a statement that an estimate of the range cannot be made; and (6) a description of tax years that remain subject to examination by major tax jurisdictions. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Earnings Per Share (Tables)
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12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2010
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Notes to Financial Statements [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Earnings Per Share | The reconciliation of the numerator and denominator used for the computation of basic and diluted earnings per share is as follows (in millions, except per share data):
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
This element may be used to capture the disclosure pertaining to an entity's calculation of basic and diluted earnings per share. No definition available.
|
Other Comprehensive Income (Tables)
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12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2010
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Notes to Financial Statements [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Allocation of other comprehensive income (loss) attributable to controlling interest and to non-controlling interest | The allocation of other comprehensive income (loss) attributable to controlling interest and to noncontrolling interest was as follows (in millions):
______________________________
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Components of accumulated other comprehensive income (loss), net of tax | The components of accumulated other comprehensive income (loss), net of tax, were as follows (in millions):
______________________________
|
X | ||||||||||
- Definition
An allocation of other comprehensive income (loss) attributable to controlling interest and to non-controlling interest, as well as the total comprehensive income (loss), including the portion attributable to non-controlling interest. No definition available.
|
X | ||||||||||
- Definition
Components of accumulated other comprehensive income (loss), net of tax. No definition available.
|
X | ||||||||||
- Details
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Drilling Fleet (Tables)
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12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2010
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Notes to Financial Statements [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Actual capital expenditures and other capital additions, including capitalized interest | The following table presents actual capital expenditures and other capital additions, including capitalized interest, for our remaining major construction projects for the three years ended December 31, 2010 (in millions):
______________________________
|
X | ||||||||||
- Definition
Disclosure of all actual capital expenditures and other capital additions, including capitalized interest, for remaining major construction projects. No definition available.
|
X | ||||||||||
- Details
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Goodwill and Other Intangibles Assets (Tables)
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12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2010
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Notes to Financial Statements [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Carrying amount of goodwill and changes in the balance | The gross carrying amounts of goodwill and accumulated impairment were as follows (in millions):
|
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Carrying value of ADTI trade name | The gross carrying amounts of the ADTI trade name, which we consider to be an indefinite-lived intangible asset, and accumulated impairment were as follows (in millions):
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Carrying value of definite-lived intangible assets and intangible liabilities | The gross carrying amounts of our drilling contract intangibles and drilling management customer relationships, both of which we consider to be definite-lived intangible assets and intangible liabilities, and accumulated amortization and impairment were as follows (in millions):
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Estimated net future amortization expense (income) related to intangible assets and liabilities | The estimated net future amortization related to intangible assets and liabilities as of December 31, 2010, was as follows (in millions):
|
X | ||||||||||
- Definition
Schedule of the estimated future amortization expense (income) on definite-lived intangible assets and liabilities subject to amortization in each of the five succeeding fiscal years and the aggregate amount for all years thereafter as of the date of the latest statement of financial position. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Disclosure of amortizable intangibles assets, in total and by major class, including the gross carrying amount and accumulated amortization. A major class is composed of intangible assets that can be grouped together because they are similar, either by their nature or by their use in the operations of a company. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The carrying amount of goodwill, goodwill acquired during the year, goodwill impairment losses recognized, goodwill written off due to the sale of a business unit, goodwill not yet allocated, and any other changes to goodwill during the period in total and for each reportable segment. At least annually, an Entity must evaluate its goodwill for impairment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Disclosure of the carrying value of intangible assets not subject to amortization, excluding goodwill, in total and by major class. A major class is composed of intangible assets that can be grouped together because they are similar, either by their nature or by their use in the operations of the company. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Debt (Tables)
|
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2010
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Notes to Financial Statements [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt, net of unamortized discounts, premiums and fair value adjustments | Debt, net of unamortized discounts, premiums and fair value adjustments, was comprised of the following (in millions):
______________________________
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Scheduled maturities of debt | At December 31, 2010, the scheduled maturities of our debt were as follows (in millions):
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Carrying amounts of liability components of convertible senior notes | The carrying amounts of the liability components of the Convertible Senior Notes were as follows (in millions):
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Carrying amounts of equity components of convertible senior notes | The carrying amounts of the equity components of the Convertible Senior Notes were as follows (in millions):
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Interest expense, excluding amortization of debt issue costs | Interest expense, excluding amortization of debt issue costs, was as follows (in millions):
|
X | ||||||||||
- Definition
Schedule of the carrying amounts of the equity components of Convertible Senior Notes. No definition available.
|
X | ||||||||||
- Definition
Schedule of the carrying amounts of the liability components of Convertible Senior Notes, including the principal amount, unamortized discount and carrying amount. No definition available.
|
X | ||||||||||
- Definition
Schedule of short-term and long-term debt arrangements reported at fair value, net of unamortized discount and premium. It may include borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, and any other contractual agreement to repay funds. No definition available.
|
X | ||||||||||
- Definition
Schedule of interest expense, excluding amortization of debt issue costs, for Convertible Senior Notes. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Schedule of maturities of long-term debt arrangements by year, including those for consolidated variable interest entities. No definition available.
|
Postemployment Benefit Plans (Tables)
|
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2010
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Notes to Financial Statements [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of defined benefit plans disclosure | Assumptions-The following were the weighted-average assumptions used to determine benefit obligations:
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Weighted-average assumptions used to determine benefit obligations and net periodic benefit costs | The following were the weighted-average assumptions used to determine net periodic benefit costs:
______________________________
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Changes in projected benefit obligation, plan assets and funded status and the amounts recognized on our consolidated balance sheets | The changes in projected benefit obligation, plan assets and funded status and the amounts recognized on our consolidated balance sheets were as follows (in millions):
______________________________
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Aggregate projected benefit obligation and fair value of plan assets for plans with a projected benefit obligation in excess of plan assets | The aggregate projected benefit obligation and fair value of plan assets for plans with a projected benefit obligation in excess of plan assets were as follows (in millions):
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Aggregate accumulated benefit obligation and fair value of plan assets for plans with an accumulated benefit obligation in excess of plan assets | The accumulated benefit obligation for all defined benefit pension plans was $1.3 billion and $1.1 billion at December 31, 2010 and 2009, respectively. The aggregate accumulated benefit obligation and fair value of plan assets for plans with an accumulated benefit obligation in excess of plan assets were as follows (in millions):
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Actual and targeted weighted-average asset allocations for funded Transocean Plans by asset category | As of December 31, 2010 and 2009, the weighted-average target and actual allocations of the investments for our funded Transocean Plans were as follows:
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Schedule of fair value of financial assets for pension and postretirement benefits | As of December 31, 2010, the investments for our funded Transocean Plans were categorized as follows (in millions):
As of December 31, 2009, the investments for our funded Transocean Plans were categorized as follows (in millions):
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Components of net periodic benefit costs, before tax | Net periodic benefit costs, before tax, included the following components (in millions):
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Amounts in accumulated other comprehensive income | The following table presents the amounts in accumulated other comprehensive income, before tax, that have not been recognized as components of net periodic benefit costs (in millions):
The following table presents the amounts in accumulated other comprehensive income expected to be recognized as components of net periodic benefit costs during the year ending December 31, 2011 (in millions):
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Projected pension benefits payments | The following were the projected benefits payments (in millions):
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X | ||||||||||
- Definition
Schedule detailing the actual and targeted weighted-average asset allocations and fair value amounts for funded Transocean Plans by asset category. No definition available.
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X | ||||||||||
- Definition
The aggregate accumulated benefit obligation and fair value of plan assets for plans with an accumulated benefit obligation in excess of plan assets. No definition available.
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X | ||||||||||
- Definition
The aggregate projected benefit obligation and fair value of plan assets for plans with a projected benefit obligation in excess of plan assets. No definition available.
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X | ||||||||||
- Definition
Schedule detailing (1) the amounts in accumulated other comprehensive income, before tax, that have not been recognized as components of net periodic benefit costs and (2) the amounts in accumulated other comprehensive income expected to be recognized as components of net periodic benefit costs during the period. No definition available.
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X | ||||||||||
- Definition
Schedule of the changes in projected benefit obligation, plan assets and funded status, including the amounts recognized on the Company's consolidated balance sheets. No definition available.
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X | ||||||||||
- Definition
Schedule detailing the components of net periodic benefit costs, before tax, for the period. No definition available.
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- Details
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X | ||||||||||
- Definition
Schedule detailing the projected pension benefits payments to be paid in each of the next five years and the aggregate benefits expected to be paid in years 6 through 10 after the date of the latest statement of financial position. No definition available.
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X | ||||||||||
- Definition
Fair value of plan assets by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets or liabilities (Level 1), Significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). No definition available.
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X | ||||||||||
- Definition
The weighted-average assumptions used to determine benefit obligations and net periodic benefit costs. No definition available.
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X | ||||||||||
- Definition
This element may be used to capture the entire disclosure for an employer that sponsors one or more defined benefit pension plans or one or more other defined benefit postretirement plans, of certain information, separately for pension plans and other postretirement benefit plans including the entity's schedule of fair value of plan assets for defined benefit or other postretirement plans. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Commitments and Contingencies (Tables)
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12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2010
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Notes to Financial Statements [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Future minimum rental payments related to noncancellable operating leases and capital leases and aggregate carrying amount of assets under capital lease | As of December 31, 2010, future minimum rental payments related to noncancellable operating leases and the capital leases were as follows (in millions):
The following were the aggregate carrying amount of our assets held under capital lease, as of December 31, 2010 and 2009, respectively (in millions):
Depreciation expense associated with our assets held under capital lease was $23 million, $14 million and $12 million for the years ended December 31, 2010, 2009 and 2008, respectively. The amount for the year ended December 31, 2010 includes only three months of depreciation expense for GSF Explorer through the date of our acquisition of the rig in March 2010. Purchase obligations At December 31, 2010, our purchase obligations, primarily related to our newbuilds, were as follows (in millions):
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X | ||||||||||
- Details
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X | ||||||||||
- Definition
Disclosure of lessee entity's leasing arrangements including, but not limited to, all of the following: (a.) The basis on which contingent rental payments are determined, (b.) The existence and terms of renewal or purchase options and escalation clauses, (c.) Restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing. This element can be used to disclose the entity's entire lease disclosure as a single block of text. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Redeemable Noncontrolling Interest (Tables)
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12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2010
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Notes to Financial Statements [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Changes in redeemable noncontrolling interest | In October 2010, Pacific Drilling's interest in TPDI became redeemable, and we reclassified to temporary equity the carrying amount associated with its interest (see Note 4-Variable Interest Entities). Changes in redeemable noncontrolling interest were as follows:
______________________________
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X | ||||||||||
- Details
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X | ||||||||||
- Definition
Tabular disclosure of redeemable noncontrolling interest included in the statement of financial position as temporary equity. As of the date of the statement of financial position, such redeemable noncontrolling interest is currently redeemable for cash or stock of the entity (1) at a fixed or determinable price on a fixed or determinable date, (2) at the option of the holder of the noncontrolling interest, or (3) upon occurrence of an event that is not solely within the control of the entity. No definition available.
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Share based compensation (Tables)
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12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2010
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Notes to Financial Statements [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Option valuation assumptions | We estimated the fair value of each option award under the Long-Term Incentive Plan on the grant date using the Black-Scholes-Merton option-pricing model with the following weighted-average assumptions:
We estimated the fair value of each option grant under the Employee Stock Purchase Plan ("ESPP") using the Black-Scholes-Merton option-pricing model with the following weighted-average assumptions:
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Summary of vested and unvested time-based vesting stock option activity | The following table summarizes vested and unvested time-based vesting stock option ("time-based options") activity under our incentive plans during the year ended December 31, 2010:
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Summary of unvested share activity for time-based vesting restricted shares | The following table summarizes unvested share activity for time-based vesting restricted shares ("time-based shares") granted under our incentive plans during the year ended December 31, 2010:
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Summary of unvested activity for time-based vesting deferred units | The following table summarizes unvested activity for time-based vesting deferred units ("time-based units") granted under our incentive plans during the year ended December 31, 2010:
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Summary of share-settled SARs activity | The following table summarizes share-settled SARs activity under our incentive plans during the year ended December 31, 2010:
|
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Summary of vested and unvested performance-based option activity | The following table summarizes vested and unvested performance-based option activity under our incentive plans during the year ended December 31, 2010:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summary of unvested activity for market-based units | The following table summarizes unvested activity for market-based units granted under our incentive plans during the year ended December 31, 2010:
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Schedule of assumptions used to calculate the fair value of stock option awards. No definition available.
|
X | ||||||||||
- Definition
Summary of share-settled SARs activity under the Company's incentive plans during the period. No definition available.
|
X | ||||||||||
- Definition
Summary of unvested activity for market-based units granted under the Company's incentive plans during the period. No definition available.
|
X | ||||||||||
- Definition
Summary of unvested activity for time-based vesting deferred units granted under the Company's incentive plans during the period. No definition available.
|
X | ||||||||||
- Definition
Summary of unvested share activity for time-based vesting restricted shares granted under the Company's incentive plans during the period. No definition available.
|
X | ||||||||||
- Definition
Summary of vested and unvested performance-based option activity under the Company's incentive plans during the period. No definition available.
|
X | ||||||||||
- Definition
Summary of vested and unvested time-based vesting stock option activity under the Company's incentive plans for the period. No definition available.
|
Supplemental Balance Sheet Information (Tables)
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12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2010
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Notes to Financial Statements [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other current and long-term liabilities | Other current liabilities were comprised of the following (in millions):
Other long-term liabilities were comprised of the following (in millions):
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Schedules of the components of other current liabilities and other long-term liabilities. No definition available.
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Fair Value of Financial Instruments (Tables)
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12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2010
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Notes to Financial Statements [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Carrying amounts and estimated fair values of long-term debt, including debt due within one year | The carrying amounts and estimated fair values of our long-term debt, including debt due within one year, were as follows (in millions):
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
This item represents certain of the disclosures concerning the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments, assets, and liabilities. Such certain disclosures about the financial instruments, assets, and liabilities include: (1) the fair value of the required items together with their carrying amounts (as appropriate) and (2) the methodology and assumptions used in developing such estimates of fair value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Supplemental Cash Flow Information (Tables)
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12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2010
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Notes to Financial Statements [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Supplemental cash flow information | Net cash provided by (used in) operating activities attributable to the net change in operating assets and liabilities were composed of the following (in millions):
Additional cash flow information were as follows (in millions):
______________________________
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Schedule of supplemental cash flow activities, including cash, noncash, and part noncash transactions, for the period. Noncash is defined as information about all investing and financing activities of an enterprise during a period that affect recognized assets or liabilities but that do not result in cash receipts or cash payments in the period. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or cash payments in the period. No definition available.
|
Segments, Geographical Analysis and Major Customers (Tables)
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12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2010
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Notes to Financial Statements [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Operating revenues by country | Operating revenues by country were as follows (in millions):
______________________________
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Long-lived assets by country | Long-lived assets by country were as follows (in millions):
______________________________
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
This element may be used to disclose in its entirety the names of foreign countries in which material long-lived assets other than financial instruments, long-term customer relationships of a financial institution, mortgage and other servicing rights, deferred policy acquisition costs, and deferred tax assets are located, and amount of such long-lived assets located in that country or foreign geographic area. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
This element may be used to disclose in its entirety the names of foreign countries from which revenue is material and the amount of revenue from external customers attributed to those countries. An entity may also provide subtotals of geographic information about groups of countries. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Quarterly Results (Tables)
|
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2010
|
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Notes to Financial Statements [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Selected unaudited quarterly data | Shown below are selected unaudited quarterly data. Amounts are rounded for consistency in presentation with no effect to the results of operations previously reported on Form 10-Q or Form 10-K.
______________________________
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Schedule of financial information for each quarter of the current and previous year, including revenues, gross profit, income (loss) before extraordinary items and cumulative effect of a change in accounting principle and EPS data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Number of High-Specification Floaters, which includes Ultra-Deepwater, Deepwater and Harsh Environment semisubmersibles and drillships. High-Specification Floaters are specialized offshore drilling units with a water depth capacity of 4,500 feet or greater. No definition available.
|
X | ||||||||||
- Definition
Number of High-Specification Jackups. High-Specification Jackups are harsh environment and high-performance jackups. Jackups are self-elevating drilling platforms that have legs that can be lowered to the ocean floor to establish a foundation to support the drilling platform. These units are generally suited for water depths of 400 feet or less. No definition available.
|
X | ||||||||||
- Definition
Number of High-Specification Jackups under construction. No definition available.
|
X | ||||||||||
- Definition
Number of Midwater Floaters. Midwater Floaters are non-high-specification semisubmersibles with a water depth capacity of less than 4,500 feet. No definition available.
|
X | ||||||||||
- Definition
Total number of mobile offshore drilling units we own, had partial ownership interests in or operated at the measurement date. No definition available.
|
X | ||||||||||
- Definition
Number of Other Rigs. Other rigs includes barge drilling rigs and a coring drillship. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
Number of shares issued by Transocean Ltd. in exchange for each ordinary share of Transocean Inc. No definition available.
|
X | ||||||||||
- Definition
Number of Standard Jackups. Standard Jackups are all other jackups other than High-Specification Jackups. Jackups are self-elevating drilling platforms that have legs that can be lowered to the ocean floor to establish a foundation to support the drilling platform. These units are generally suited for water depths of 400 feet or less. No definition available.
|
X | ||||||||||
- Definition
Number of Ultra-Deepwater Floaters under construction. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Increase (decrease) in depreciation expense due to changes in estimated useful lives of long-lived, physical assets used in the normal conduct of business and not intended for resale. No definition available.
|
X | ||||||||||
- Definition
Increase (decrease) in earnings per diluted share due to changes in estimated useful lives of long-lived, physical assets used in the normal conduct of business and not intended for resale. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Number of drilling rigs whose useful life was adjusted during the period. No definition available.
|
X | ||||||||||
- Definition
Number of trading days average closing price is used to determine average stock price for performance based compensation. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The maximum original useful life of long-lived, physical assets used in the normal conduct of business and not intended for resale. Examples include land and improvements, buildings, and production equipment. No definition available.
|
X | ||||||||||
- Definition
The minimum original useful life of long-lived, physical assets used in the normal conduct of business and not intended for resale. Examples include land and improvements, buildings, and production equipment. No definition available.
|
X | ||||||||||
- Definition
The estimated maximum useful life of long-lived, physical assets used in the normal conduct of business and not intended for resale after adjustment. Examples include land and improvements, buildings, and production equipment. No definition available.
|
X | ||||||||||
- Definition
The estimated minimum useful life of long-lived, physical assets used in the normal conduct of business and not intended for resale after adjustment. Examples include land and improvements, buildings, and production equipment. No definition available.
|
X | ||||||||||
- Definition
The estimated maximum useful life of long-lived, physical assets used in the normal conduct of business and not intended for resale before adjustment. Examples include land and improvements, buildings, and production equipment. No definition available.
|
X | ||||||||||
- Definition
The estimated minimum useful life of long-lived, physical assets used in the normal conduct of business and not intended for resale before adjustment. Examples include land and improvements, buildings, and production equipment. No definition available.
|
X | ||||||||||
- Definition
Percentage of total assets represented by property and equipment at end of period. No definition available.
|
X | ||||||||||
- Definition
For an unclassified balance sheet, a valuation allowance for receivables due a company that are expected to be uncollectible. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Current assets (normally turning over within one year or one business cycle if longer) that are held for sale apart from normal operations and anticipated to be sold within one year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The funded status is measured as the difference between the fair value of plan assets and the benefit obligation. Will normally be the same as the net Defined Benefit Plan, Amounts Recognized in Balance Sheet, Total. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The total amount of net periodic benefit cost for defined benefit plans for the period. Periodic benefit costs include the following components: service cost, interest cost, expected return on plan assets, gain or loss, prior service cost or credit, transition asset or obligation, and gain or loss due to settlements or curtailments). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The total recognized tax benefit related to compensation cost for share-based payment arrangements recognized in income during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The aggregate foreign currency transaction gain or loss (both realized and unrealized) included in determining net income for the reporting period. Excludes foreign currency transactions designated as hedges of net investment in a foreign entity and intercompany foreign currency transactions that are of a long-term nature, when the entities to the transaction are consolidated, combined, or accounted for by the equity method in the reporting enterprise's financial statements. For certain enterprises, primarily banks, that are dealers in foreign exchange, foreign currency transaction gains or losses may be disclosed as dealer gains or losses. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
This item represents the entity's proportionate share for the period of the net income (loss) of its investee (such as unconsolidated subsidiaries and joint ventures) to which the equity method of accounting is applied. Such amount typically reflects adjustments similar to those made in preparing consolidated statements, including adjustments to eliminate intercompany gains and losses, and to amortize, if appropriate, any difference between cost and underlying equity in net assets of the investee at the date of investment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The amount of interest that was capitalized during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The amount of the valuation account as of the balance sheet date which reduces the carrying amount of inventory to net realizable value; takes into consideration such factors as market value, excessive quantities based on expected sales, technological obsolescence, and shrinkage. May also provide for estimated product returns or price concessions pertaining to product cost. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Value of the investment at close of period. For investment in and advances to affiliates, if operations of any controlled companies are different in character from those of the company, group such affiliates within divisions and by type of activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock options, amortization of restricted stock, and adjustment for officers compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
The maturity date on working capital loan provided to ADL in connection with the sale of two Midwater Floaters. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
The aggregate carrying amount, net of imputed interest, of a note receivable No definition available.
|
X | ||||||||||
- Definition
Number of notes receivable received as non-cash proceeds in connection with the sale of two Midwater Floaters. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Aggregate carrying amount of working capital loan receivable in connection with the sale of two Midwater Floaters. No definition available.
|
X | ||||||||||
- Definition
Quantifies the net carrying amount. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Quantifies the net carrying amount of the entity's assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Quantifies the net carrying amount of the entity's liabilities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The carrying amount of the variable interest entity's assets consolidated into the statement of financial position. In general, a VIE is a corporation, partnership, trust, or any other legal structure used for business purposes that either (a) does not have equity investors with voting rights or (b) has equity investors that do not provide sufficient financial resources for the entity to support its activities. A VIE often holds financial assets, including loans or receivables, real estate or other property. A VIE may be essentially passive or it may engage in research and development or other activities on behalf of another company. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The amount of impairment loss recognized in the period resulting from the write-down of the carrying amount of a finite-lived intangible asset to fair value. No definition available.
|
X | ||||||||||
- Definition
The loss from impairment charge on customer relationships intangible asset per each share of dilutive common stock during the reporting period net of tax. No definition available.
|
X | ||||||||||
- Definition
The amount of impairment loss recognized in the period resulting from the write-down of the carrying amount of an indefinite-lived intangible asset, other than goodwill, to fair value, net of tax. No definition available.
|
X | ||||||||||
- Definition
The aggregate amount of write-downs for impairments recognized during the period for long lived assets held for use per each share of dilutive common stock during the reporting period. No definition available.
|
X | ||||||||||
- Definition
Carrying amount (original costs adjusted for previously recognized amortization and impairment) as of the balance sheet date for the rights acquired through registration of a trade name to gain or protect exclusive use thereof for a projected indefinite period of benefit in the drilling management services division. No definition available.
|
X | ||||||||||
- Definition
The loss from impairment charge on assets per each share of dilutive common stock during the reporting period. No definition available.
|
X | ||||||||||
- Definition
The amount of impairment loss recognized in the period resulting from the write-down of the goodwill carrying amount of drilling management services, net of tax. No definition available.
|
X | ||||||||||
- Definition
The loss from impairment charge on goodwill associated with drilling management services per each share of dilutive common stock during the reporting period. No definition available.
|
X | ||||||||||
- Definition
The amount of impairment loss recognized in the period resulting from the write-down of the goodwill carrying amount of oil and gas properties, net of tax. No definition available.
|
X | ||||||||||
- Definition
The loss from impairment charge on goodwill associated with oil and gas properties per each share of dilutive common stock during the reporting period. No definition available.
|
X | ||||||||||
- Definition
The loss from the impairment charge on trade name intangible asset per each share of dilutive common stock during the reporting period net of tax. No definition available.
|
X | ||||||||||
- Definition
Current assets (normally turning over within one year or one business cycle if longer) that are held for sale apart from normal operations and anticipated to be sold within one year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The aggregate sum of gross carrying value of a major finite-lived intangible asset class, less accumulated amortization and any impairment charges. A major class is composed of intangible assets that can be grouped together because they are similar, either by their nature or by their use in the operations of a company. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The amount of impairment loss recognized in the period resulting from the write-down of the carrying amount of a finite-lived intangible asset to fair value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The amount of impairment loss recognized in the period resulting from the write-down of the carrying amount of an indefinite-lived intangible asset, other than goodwill, to fair value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The aggregate amount of write-downs for impairments recognized during the period for long lived assets held for use (including those held for disposal by means other than sale). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The aggregate amount of write-downs for impairments recognized during the period for long-lived assets held for abandonment, exchange or sale. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The tax effect as of the balance sheet date of the amount of the estimated future tax deductions attributable to drilling contract intangibles which can only be deducted for tax purposes when enacted tax laws enable the deduction to be taken, and which can only be realized if sufficient tax-basis income is generated in future periods to enable the deduction to be taken. No definition available.
|
X | ||||||||||
- Definition
The upper range limit of the deferred tax liability that would be payable upon distribution of all previously unremitted earnings of certain subsidiaries which was not recognized because of the exceptions to comprehensive recognition of deferred taxes. No definition available.
|
X | ||||||||||
- Definition
The lower range limit of the deferred tax liability that would be payable upon distribution of all previously unremitted earnings of certain subsidiaries which was not recognized because of the exceptions to comprehensive recognition of deferred taxes. No definition available.
|
X | ||||||||||
- Definition
Financial security (collateral) that may be required to be posted by entity while tax assessments by Norway on entity's actions involving restructuring, dividends, deductions and other related transactions are being appealed in court. No definition available.
|
X | ||||||||||
- Definition
Net tax adjustments for certain claims with respect to restructuring transactions, withholding taxes and certain other adjustments No definition available.
|
X | ||||||||||
- Definition
The estimated loss resulting from the income tax examination that has been accrued net of any adjustments as of the balance sheet date, excluding interest and penalties. No definition available.
|
X | ||||||||||
- Definition
The estimated loss resulting from the income tax examination that has been accrued net of any adjustments as of the balance sheet date, excluding interest and penalties by the Brazilian taxing authorities. No definition available.
|
X | ||||||||||
- Definition
Net tax adjustments for claims made with respect to restructuring charges for 2006 through 2009. No definition available.
|
X | ||||||||||
- Definition
Net tax adjustments for certain claims with respect to withholding taxes and certain other adjustments No definition available.
|
X | ||||||||||
- Definition
The rate of penalty to be assessed by Brazilian tax authorities if entity's efforts to overturn tax assessment are unsuccessful. No definition available.
|
X | ||||||||||
- Definition
The rate of penalty to be assessed by Norwegian court if entity's efforts to overturn tax assessment are unsuccessful. No definition available.
|
X | ||||||||||
- Definition
This element represents the total interest assessed by Brazilian tax authorities. No definition available.
|
X | ||||||||||
- Definition
This element represents the total penalties assessed by Brazilian tax authorities. No definition available.
|
X | ||||||||||
- Definition
The portion of the difference, between income tax expense (benefit) for impairment loss subject to rates less than the Swiss rate. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Tax assessments by Norway on entity's actions involving dividend payment. No definition available.
|
X | ||||||||||
- Definition
Tax assessments by Norway on entity's actions involving certain foreign exchange deductions. No definition available.
|
X | ||||||||||
- Definition
Tax assessments by Norway on entity's actions involving the migration of a subsidiary that was previously subject to tax in Norway. No definition available.
|
X | ||||||||||
- Definition
Tax assessments by Norway on entity's actions involving restructuring transactions. No definition available.
|
X | ||||||||||
- Definition
The tax effect of foreign net operating loss carryforwards. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The total amount of unrecognized tax benefits, excluding interest and penalties, that if recognized, would affect the effective tax rate. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
The gross amount of increases (decreases) in unrecognized tax benefits resulting from settlements with taxing authorities. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The component of income tax expense for the period representing amounts of income taxes paid or payable (or refundable) for the period for all income tax obligations as determined by applying the provisions of relevant enacted tax laws to relevant amounts of taxable income (loss) from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The component of income tax expense for the period representing the net change in the entity's deferred tax assets and liabilities pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The tax effect as of the balance sheet date of the amount of the estimated future tax deductions attributable to income recognized only for tax purposes and which will reverse when recognized under generally accepted accounting principles. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
For entities that net deferred tax assets and tax liabilities, represents the unclassified net amount of deferred tax assets and liabilities as of the balance sheet date, which result from applying the applicable enacted tax rate to net temporary differences and carryforwards pertaining to assets or liabilities. A temporary difference is a difference between the tax basis of an asset or liability and its carrying amount in the financial statements prepared in accordance with generally accepted accounting principles that will reverse in ensuing periods. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The aggregate tax effects as of the balance sheet date of all future tax deductions arising from temporary differences between tax basis and generally accepted accounting principles basis recognition of assets, liabilities, revenues and expenses, which can only be deducted for tax purposes when permitted under enacted tax laws; net of deducting the allocated valuation allowance, if any, to reduce such amount to net realizable value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The sum of the tax effects as of the balance sheet date of the amount of excesses of tax deductions over gross income in a year which cannot be used on the tax returns in the current year but can be carried forward to reduce taxable income or income taxes payable in a future year, for which there must be sufficient tax-basis income to utilize a portion or all of the carryforward amount to realize the deferred tax asset. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The tax effect as of the balance sheet date of the amount of estimated future tax deductions arising from other temporary differences not otherwise specified in the taxonomy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The tax effect as of the balance sheet date of the amount of future tax deductions arising from all unused tax credit carryforwards which have been reduced by a valuation allowance. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The tax effect as of the balance sheet date of the amount of the estimated future tax deductions arising from employee compensation costs, which can only be deducted for tax purposes when actual costs are incurred, and which can only be realized if sufficient tax-basis income is generated in future periods to enable the deduction to be taken. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The sum of the portions of deferred tax assets as of the balance sheet date for which, based on the weight of available evidence, it is more likely than not will not be realized through future reductions of tax-based income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The cumulative amount of all deferred tax liabilities, which result from applying the applicable tax rate to net taxable temporary differences pertaining to each jurisdiction to which the entity is obligated to pay income tax. A taxable temporary difference is a difference between the tax basis and the carrying amount of an asset or liability in the financial statements prepared in accordance with generally accepted accounting principles that will result in taxable amounts in one or more future periods. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The cumulative amount of the estimated future tax effects attributable to the difference between the tax basis of intangible assets and the basis of intangible assets computed in accordance with generally accepted accounting principles. The difference in basis, whether due to amortization or other reasons, will increase future taxable income when such difference reverses. Intangible assets include, but are not limited to, assets such as patents, trademarks and customer lists. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The cumulative amount of the estimated future tax effects attributable to other temporary differences not otherwise specified in this taxonomy that were expensed for tax purposes but capitalized in conformity with generally accepted accounting principles, or which were recognized as revenue under GAAP but not for tax purposes, which will reverse in future periods. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The amount as of the balance sheet date of the estimated future tax effects attributable to the difference between the tax basis of capital assets and the basis of capital assets computed in accordance with generally accepted accounting principles. The difference in basis, attributable to different capitalization of costs, depreciation, or amortization methodologies, will increase future taxable income when such basis difference is realized. Capital assets include but are not limited to assets such as land, real estate, leasehold improvements, machinery and equipment and furniture and fixtures. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The cumulative amount of the temporary difference for which a deferred tax liability has not been provided because of the exceptions to comprehensive recognition of deferred taxes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
A ratio calculated by dividing the reported amount of income tax expense attributable to continuing operations for the period by GAAP-basis pretax income from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The domestic federal statutory tax rate applicable under enacted tax laws to the Company's pretax income from continuing operations for the period. The "statutory" tax rate shall be the regular tax rate if there are alternative tax systems. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The estimated range of reasonably possible losses resulting from an adverse position taken by a taxing authority. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The sum of the current income tax expense (benefit) and the deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The portion of the difference between total income tax expense (benefit) as reported in the Income Statement and the expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income from continuing operations attributable to changes in the valuation allowance for deferred tax assets in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The portion of the difference, between total income tax expense (benefit) as reported in the Income Statement for the period and the expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income from continuing operations, that is attributable to total foreign income tax expense (benefit). The foreign income tax expense (benefit) difference represents the income tax expense (benefit) at applicable domestic statutory income tax rates applied to foreign earnings (loss) for the period versus the foreign income tax expense (benefit) calculated by applying the appropriate foreign tax rates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The amount of income tax expense (benefit) for the period computed by applying the domestic federal statutory tax rates to pretax income from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The sum of other amounts reflected in the reconciliation of the statutory tax provision (benefit) to the actual tax provision (benefit). No definition available.
|
X | ||||||||||
- Definition
The portion of the difference between total income tax expense (benefit) as reported in the Income Statement and the expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income from continuing operations attributable to foreign tax credits generated or utilized under enacted tax laws during the period. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The amount of the tax credit carryforward, before tax effects, available to reduce future taxable income under enacted tax laws. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
State the expiration dates of the tax credit carryforward. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The gross amount of unrecognized tax benefits (tax reductions recognized in financial reports but excluded from tax returns) pertaining to uncertain tax positions taken in tax returns as of the beginning balance sheet date, excluding amounts pertaining to examined tax returns. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The gross amount of decreases in unrecognized tax benefits resulting from tax positions taken in prior period tax returns, excluding amounts pertaining to examined tax returns. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
This element represents the total of accruals as of the date of the statement of financial position for interest recognized for an underpayment of income taxes computed by applying the applicable statutory rate of interest to the difference between a tax position recognized for financial reporting purposes and the amount previously taken or expected to be taken in a tax return of the entity and the amount of statutory penalties for a tax position claimed or expected to be claimed by the entity, in its tax return, that does not meet the minimum statutory threshold to avoid payment of penalties. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
This element represents the total of interest expense recognized for an underpayment of income taxes computed by applying the applicable statutory rate of interest to the difference between a tax position recognized for financial reporting purposes and the amount previously taken or expected to be taken in a tax return of the entity and the amount of statutory penalties in the period in which the entity claims or expects to claim a tax position, in its tax return, that does not meet the minimum statutory threshold to avoid payment of penalties. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The gross amount of increases in unrecognized tax benefits resulting from tax positions that have been or will be taken in the tax return for the current period, excluding amounts pertaining to examined tax returns. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The gross amount of increases in unrecognized tax benefits resulting from tax positions taken in prior period tax returns, excluding amounts pertaining to examined tax returns. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The net amount of all increases and decreases in unrecognized tax benefits for the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The gross amount of decreases in unrecognized tax benefits resulting from lapses of the applicable statutes of limitations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The total amount of unrecognized tax benefits that, if recognized, would affect the effective tax rate. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Earnings Per Share (Details) (USD $)
In Millions, except Per Share data, unless otherwise specified |
3 Months Ended | 12 Months Ended | |||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2010
|
Sep. 30, 2010
|
Jun. 30, 2010
|
Mar. 31, 2010
|
Dec. 31, 2009
|
Sep. 30, 2009
|
Jun. 30, 2009
|
Mar. 31, 2009
|
Dec. 31, 2010
|
Dec. 31, 2009
|
Dec. 31, 2008
|
|||||||||||
Numerator for earnings per share, basic [Abstract] | |||||||||||||||||||||
Net income attributable to controlling interest | $ (799) | [1] | $ 368 | $ 715 | [1] | $ 677 | [1] | $ 723 | $ 710 | [2] | $ 806 | [2] | $ 942 | [2] | $ 961 | $ 3,181 | $ 4,031 | ||||
Undistributed net income allocable to participating securities | (5) | (18) | (10) | ||||||||||||||||||
Net income available to shareholders | 956 | 3,163 | 4,021 | ||||||||||||||||||
Denominator for earnings per share, basic [Abstract] | |||||||||||||||||||||
Weighted-average shares outstanding (in shares) | 319 | 319 | 319 | 321 | 321 | 321 | 320 | 319 | 320 | 320 | 318 | ||||||||||
Earnings per share, basic (in dollars per share) | $ (2.51) | $ 1.15 | $ 2.23 | $ 2.10 | $ 2.24 | $ 2.20 | $ 2.50 | $ 2.94 | $ 2.99 | $ 9.87 | $ 12.63 | ||||||||||
Numerator for earnings per share, diluted [Abstract] | |||||||||||||||||||||
Net income attributable to controlling interest | (799) | [1] | 368 | 715 | [1] | 677 | [1] | 723 | 710 | [2] | 806 | [2] | 942 | [2] | 961 | 3,181 | 4,031 | ||||
Undistributed net income allocable to participating securities | (5) | (18) | (10) | ||||||||||||||||||
Net income available to shareholders | $ 956 | $ 3,163 | $ 4,021 | ||||||||||||||||||
Denominator for earnings per share, diluted [Abstract] | |||||||||||||||||||||
Weighted-average shares outstanding (in shares) | 319 | 319 | 319 | 321 | 321 | 321 | 320 | 319 | 320 | 320 | 318 | ||||||||||
Effect of dilutive securities [Abstract] | |||||||||||||||||||||
Stock options and other share-based awards (in shares) | 0 | 1 | 2 | ||||||||||||||||||
Stock warrants (in shares) | 0 | 0 | 1 | ||||||||||||||||||
Weighted-average shares per calculation (in shares) | 319 | 319 | 320 | 322 | 322 | 322 | 321 | 320 | 320 | 321 | 321 | ||||||||||
Earnings per share, diluted (in dollars per share) | $ (2.51) | $ 1.15 | $ 2.22 | $ 2.09 | $ 2.24 | $ 2.19 | $ 2.49 | $ 2.93 | $ 2.99 | $ 9.84 | $ 12.53 | ||||||||||
Antidilutive securities excluded from computation of earnings per share [Abstract] | |||||||||||||||||||||
Antidilutive share-based awards excluded from the calculation of earnings per share (in shares) | 2.2 | 1.7 | 0.4 | ||||||||||||||||||
1.625% Series A Convertible Senior Notes, stated interest rate (in hundredths) | 1.625% | 1.625% | |||||||||||||||||||
1.50% Series B Convertible Senior Notes, stated interest rate (in hundredths) | 1.50% | 1.50% | |||||||||||||||||||
1.50% Series C Convertible Senior Notes, stated interest rate (in hundredths) | 1.50% | 1.50% | |||||||||||||||||||
|
X | ||||||||||
- Definition
Interest rate stated in the contractual debt agreement of Convertible Senior Note Series A. No definition available.
|
X | ||||||||||
- Definition
Interest rate stated in the contractual debt agreement of Convertible Senior Note Series B. No definition available.
|
X | ||||||||||
- Definition
Interest rate stated in the contractual debt agreement of Convertible Senior Note Series C. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
A warrant gives the holder the right to purchase common stock in accordance with the terms of the instrument. The dilutive effect of which is reflected in diluted EPS by applying the treasury stock method unless another method is required to be applied. Debt securities outstanding shall be assumed to have been converted at the beginning of the period and the resulting common shares shall be included in common shares used to calculate diluted EPS by application of the if-converted method. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) in the future that were not included in the computation of diluted EPS because to do so would increase EPS amounts or decrease loss per share amounts for the period presented. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The amount of net income or loss for the period per each share of common stock outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The amount of net income or loss for the period per each share of common stock and dilutive common stock equivalents outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Aggregate awards of share options and nonvested shares to be issued to an employee under a share-based compensation arrangement are considered options for purposes of computing diluted earnings per share. Such share-based awards shall be considered to be outstanding as of the grant date for purposes of computing diluted earnings per share even though their exercise may be contingent upon vesting. Those share-based awards are included in the diluted Earnings Per Share (EPS) computation even if the employee may not receive (or be able to sell) the stock until some future date. Accordingly, all shares to be issued shall be included in computing diluted EPS if the effect is dilutive. The dilutive effect of share-based compensation arrangements shall be computed using the treasury stock method. If the equity share options or other equity instruments are outstanding for only part of a period, the shares issuable shall be weighted to reflect the portion of the period during which the equity instruments were outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The portion of consolidated profit or loss for the period, net of income taxes, which is attributable to the parent. If the entity does not present consolidated financial statements, the amount of profit or loss for the period, net of income taxes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Net income after adjustments for dividends on preferred stock (declared in the period) and/or cumulative preferred stock (accumulated for the period). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Net Income (Loss) Available to Common Stockholders plus adjustments resulting from the assumption that dilutive convertible securities were converted, options or warrants were exercised, or that other shares were issued upon the satisfaction of certain conditions. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The aggregate value of preferred stock dividends and other adjustments necessary to derive net income apportioned to common stockholders. No definition available.
|
X | ||||||||||
- Definition
The average number of shares issued and outstanding that are used in calculating diluted EPS, determined based on the timing of issuance of shares in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Number of [basic] shares, after adjustment for contingently issuable shares and other shares not deemed outstanding, determined by relating the portion of time within a reporting period that common shares have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Accumulated appreciation or loss, net of tax, in value of the total of unsold securities at the end of an accounting period attributable to the noncontrolling interest. No definition available.
|
X | ||||||||||
- Definition
Accumulated appreciation or loss, net of tax, in value of the total of unsold securities at the end of an accounting period attributable to the redeemable noncontrolling interest. No definition available.
|
X | ||||||||||
- Definition
Accumulated change, net of tax, in accumulated gains and losses from derivative instruments designated and qualifying as the effective portion of cash flow hedges attributable to the noncontrolling interest. Includes an entity's share of an equity investee's increase (decrease) in deferred hedging gains or losses. No definition available.
|
X | ||||||||||
- Definition
Accumulated change, net of tax, in accumulated gains and losses from derivative instruments designated and qualifying as the effective portion of cash flow hedges attributable to the redeemable noncontrolling interest. Includes an entity's share of an equity investee's increase (decrease) in deferred hedging gains or losses. No definition available.
|
X | ||||||||||
- Definition
The total of net (gain) loss, prior service cost (credit), and transition assets (obligations), as well as minimum pension liability if still remaining, included in accumulated other comprehensive income associated with a defined benefit pension or other postretirement plan(s) because they have yet to be recognized as components of net periodic benefit cost, which is attributable to the noncontrolling interest. No definition available.
|
X | ||||||||||
- Definition
The total of net (gain) loss, prior service cost (credit), and transition assets (obligations), as well as minimum pension liability if still remaining, included in accumulated other comprehensive income associated with a defined benefit pension or other postretirement plan(s) because they have yet to be recognized as components of net periodic benefit cost, which is attributable to the redeemable noncontrolling interest. No definition available.
|
X | ||||||||||
- Definition
Acc. change in equity from transactions from non-owner sources, net of tax, at yearend, attributable to the noncontrolling interest. Excludes net income/loss and acc. changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adj., unrealized gains/losses on certain inv. in debt and equity securities, and changes in fair value of derivatives related to the eff. portion of a designated cash flow hedge. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Accumulated change in equity from transactions from non-owner sources, net of tax, at yearend, attributable to the redeemable noncontrolling interest. Excludes net income/loss and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains/losses on certain investment in debt and equity securities, and changes in FMV of derivatives related to the effective portion of a designated cash flow hedge. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Tax effect of the change in accumulated other comprehensive income. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Other pre-tax amounts recognized in other comprehensive income during the period that are not related to net periodic benefit costs and unrealized gains (losses) on derivative instruments. No definition available.
|
X | ||||||||||
- Definition
Other pre-tax amounts recognized in other comprehensive income during the period that are not related to net periodic benefit costs and unrealized gains (losses) on derivative instruments, attributable to the noncontrolling interest . No definition available.
|
X | ||||||||||
- Definition
Other pre-tax amounts recognized in other comprehensive income during the period that are not related to net periodic benefit costs and unrealized gains (losses) on derivative instruments, attributable to the parent entity . No definition available.
|
X | ||||||||||
- Definition
Pre-tax amounts recognized in other comprehensive income and net periodic benefit cost during the period, which are attributable to the noncontrolling interest . No definition available.
|
X | ||||||||||
- Definition
Pre-tax amounts recognized in other comprehensive income and net periodic benefit cost during the period, which are attributable to the parent entity. No definition available.
|
X | ||||||||||
- Definition
Pre-tax amounts recognized in other comprehensive income and net periodic benefit cost during the period. No definition available.
|
X | ||||||||||
- Definition
Pre tax change in recognized gains and losses from derivative instruments. No definition available.
|
X | ||||||||||
- Definition
Pre tax change in recognized gains and losses from derivative instruments attributable to the noncontrolling interest. No definition available.
|
X | ||||||||||
- Definition
Pre tax change in recognized gains and losses from derivative instruments attributable to the parent entity. No definition available.
|
X | ||||||||||
- Definition
Pre tax change in accumulated gains and losses from derivative instrument designated and qualifying as the effective portion of cash flow hedges, attributable to the noncontrolling interest. A cash flow hedge is a hedge of the exposure to variability in the cash flows of a recognized asset or liability or a forecasted transaction that is attributable to a particular risk. Includes an entity's share of an equity investee's increase (decrease) in deferred hedging gains or losses. No definition available.
|
X | ||||||||||
- Definition
Pre tax change in accumulated gains and losses from derivative instrument designated and qualifying as the effective portion of cash flow hedges, attributable to the parent entity. A cash flow hedge is a hedge of the exposure to variability in the cash flows of a recognized asset or liability or a forecasted transaction that is attributable to a particular risk. Includes an entity's share of an equity investee's increase (decrease) in deferred hedging gains or losses. No definition available.
|
X | ||||||||||
- Definition
Pre-tax amounts recognized in other comprehensive income during the period, but not yet recognized in net periodic benefit cost, which are attributable to the noncontrolling interest. No definition available.
|
X | ||||||||||
- Definition
Pre-tax amounts recognized in other comprehensive income during the period, but not yet recognized in net periodic benefit cost, which are attributable to the parent entity. No definition available.
|
X | ||||||||||
- Definition
Pre-tax amounts recognized in other comprehensive income during the period, but not yet recognized in net periodic benefit cost. No definition available.
|
X | ||||||||||
- Definition
Accumulated appreciation or loss, net of tax, in value of the total of unsold securities at the end of an accounting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Accumulated change, net of tax, in accumulated gains and losses from derivative instruments designated and qualifying as the effective portion of cash flow hedges. Includes an entity's share of an equity investee's increase (decrease) in deferred hedging gains or losses. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The total of net (gain) loss, prior service cost (credit), and transition assets (obligations), as well as minimum pension liability if still remaining, included in accumulated other comprehensive income associated with a defined benefit pension or other postretirement plan(s) because they have yet to be recognized as components of net periodic benefit cost. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at fiscal year-end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, and unrealized gains and losses on certain investments in debt and equity securities as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
This element represents Other Comprehensive Income (Loss), Before Tax, for the period. The pretax revenues, expenses, gains, and losses that under generally accepted accounting principles are included in comprehensive income, but excluded from net income. Includes the entity's proportionate share of an investee's equity adjustments for other comprehensive income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
This element represents Other Comprehensive Income (Loss), Before Tax, for the period attributable to noncontrolling interest. The pre-tax revenues, expenses, gains, and losses that under generally accepted accounting principles are included in comprehensive income, but excluded from net income. Includes the entity's proportionate share of an investee's equity adjustments for other comprehensive income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Pre-tax change in accumulated gains and losses from derivative instruments designated and qualifying as the effective portion of cash flow hedges, net of reclassifications into earnings during the period, attributable to the parent entity. A cash flow hedge is a hedge of the exposure to variability in the cash flows of a recognized asset or liability or a forecasted transaction that is attributable to a particular risk. Includes an entity's share of an equity investee's increase (decrease) in deferred hedging gains or losses. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
This element represents Other Comprehensive Income (Loss), Net of Tax, for the period. Includes deferred gains (losses) on qualifying hedges, unrealized holding gains (losses) on available-for-sale securities, minimum pension liability, and cumulative translation adjustment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
This element represents Other Comprehensive Income (Loss), Net of Tax, for the period attributable to noncontrolling interest. Includes deferred gains (losses) on qualifying hedges, unrealized holding gains (losses) on available-for-sale securities, minimum pension liability, and cumulative translation adjustment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
This element represents Other Comprehensive Income (Loss), Net of Tax, for the period attributable to the parent entity. Includes deferred gains (losses) on qualifying hedges, unrealized holding gains (losses) on available-for-sale securities, minimum pension liability, and cumulative translation adjustment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Tax effect of the change in accumulated other comprehensive income, that is, the tax effect on items included in other comprehensive income during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Tax effect of the change in accumulated other comprehensive income, that is, the tax effect on items included in other comprehensive income during the period that is attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Tax effect of the change in accumulated other comprehensive income, that is, the tax effect on items included in other comprehensive income during the period that is attributable to the parent entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Drilling Fleet (Details) (USD $)
|
1 Months Ended | 12 Months Ended | 24 Months Ended | 12 Months Ended | 12 Months Ended | 24 Months Ended | 12 Months Ended | 24 Months Ended | 12 Months Ended | 24 Months Ended | 12 Months Ended | 24 Months Ended | 12 Months Ended | 24 Months Ended | 12 Months Ended | 24 Months Ended | 12 Months Ended | 24 Months Ended | 12 Months Ended | 24 Months Ended | 12 Months Ended | 24 Months Ended | 12 Months Ended | 24 Months Ended | 12 Months Ended | 24 Months Ended | 12 Months Ended | 24 Months Ended | 12 Months Ended | 24 Months Ended | 12 Months Ended | 24 Months Ended | 12 Months Ended | 24 Months Ended | 12 Months Ended | 24 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Mar. 31, 2010
|
Jan. 31, 2010
|
Dec. 31, 2010
|
Dec. 31, 2009
|
Dec. 31, 2008
|
Dec. 31, 2007
|
Dec. 31, 2010
Sale of Two Midwater Floaters [Member]
|
Dec. 31, 2010
Disposal of Other Unrelated Assets [Member]
|
Dec. 31, 2009
Disposal of Other Unrelated Assets [Member]
|
Dec. 31, 2009
Sale of Sedco 135-D [Member]
|
Dec. 31, 2009
Caspian Drilling Company Limited [Member]
|
Dec. 31, 2009
Arab Drilling & Workover Company [Member]
|
Dec. 31, 2008
Sale of Three Standard Jackups [Member]
|
Apr. 22, 2010
Sale of Three Standard Jackups [Member]
|
Dec. 31, 2010
Sale of Transocean Mercury and Related Equipment [Member]
|
Dec. 31, 2010
TPDI [Member]
|
Dec. 31, 2010
ADDCL [Member]
|
Dec. 31, 2010
Deepwater Champion [Member]
|
Dec. 31, 2009
Deepwater Champion [Member]
|
Dec. 31, 2008
Deepwater Champion [Member]
|
Dec. 31, 2007
Deepwater Champion [Member]
|
Nov. 30, 2007
Deepwater Champion [Member]
|
Dec. 31, 2010
Discoverer India [Member]
|
Dec. 31, 2009
Discoverer India [Member]
|
Dec. 31, 2008
Discoverer India [Member]
|
Dec. 31, 2007
Discoverer India [Member]
|
Dec. 31, 2010
Discoverer Luanda [Member]
|
Dec. 31, 2009
Discoverer Luanda [Member]
|
Dec. 31, 2008
Discoverer Luanda [Member]
|
Dec. 31, 2007
Discoverer Luanda [Member]
|
Dec. 31, 2010
Transocean Honor [Member]
|
Dec. 31, 2009
Transocean Honor [Member]
|
Dec. 31, 2008
Transocean Honor [Member]
|
Dec. 31, 2007
Transocean Honor [Member]
|
Nov. 30, 2010
Transocean Honor [Member]
|
Dec. 31, 2010
Dhirubhai Deepwater KG2 [Member]
|
Dec. 31, 2009
Dhirubhai Deepwater KG2 [Member]
|
Dec. 31, 2008
Dhirubhai Deepwater KG2 [Member]
|
Dec. 31, 2007
Dhirubhai Deepwater KG2 [Member]
|
Dec. 31, 2010
Development Driller III [Member]
|
Dec. 31, 2009
Development Driller III [Member]
|
Dec. 31, 2008
Development Driller III [Member]
|
Dec. 31, 2007
Development Driller III [Member]
|
Nov. 30, 2007
Development Driller III [Member]
|
Dec. 31, 2010
Discoverer Inspiration [Member]
|
Dec. 31, 2009
Discoverer Inspiration [Member]
|
Dec. 31, 2008
Discoverer Inspiration [Member]
|
Dec. 31, 2007
Discoverer Inspiration [Member]
|
Dec. 31, 2010
High-Specification Jackup TBN1 [Member]
|
Dec. 31, 2009
High-Specification Jackup TBN1 [Member]
|
Dec. 31, 2008
High-Specification Jackup TBN1 [Member]
|
Dec. 31, 2007
High-Specification Jackup TBN1 [Member]
|
Dec. 31, 2010
High-Specification Jackup TBN2 [Member]
|
Dec. 31, 2009
High-Specification Jackup TBN2 [Member]
|
Dec. 31, 2008
High-Specification Jackup TBN2 [Member]
|
Dec. 31, 2007
High-Specification Jackup TBN2 [Member]
|
Dec. 31, 2010
Discoverer Americas [Member]
|
Dec. 31, 2009
Discoverer Americas [Member]
|
Dec. 31, 2008
Discoverer Americas [Member]
|
Dec. 31, 2007
Discoverer Americas [Member]
|
Dec. 31, 2010
Discoverer Clear Leader [Member]
|
Dec. 31, 2009
Discoverer Clear Leader [Member]
|
Dec. 31, 2008
Discoverer Clear Leader [Member]
|
Dec. 31, 2007
Discoverer Clear Leader [Member]
|
Dec. 31, 2010
Petrobras 10000 [Member]
|
Dec. 31, 2009
Petrobras 10000 [Member]
|
Dec. 31, 2008
Petrobras 10000 [Member]
|
Dec. 31, 2007
Petrobras 10000 [Member]
|
Aug. 04, 2009
Petrobras 10000 [Member]
|
Dec. 31, 2010
Dhirubhai Deepwater KG1 [Member]
|
Dec. 31, 2009
Dhirubhai Deepwater KG1 [Member]
|
Dec. 31, 2008
Dhirubhai Deepwater KG1 [Member]
|
Dec. 31, 2007
Dhirubhai Deepwater KG1 [Member]
|
Dec. 31, 2010
Sedco 700-series Upgrades [Member]
|
Dec. 31, 2009
Sedco 700-series Upgrades [Member]
|
Dec. 31, 2008
Sedco 700-series Upgrades [Member]
|
Dec. 31, 2007
Sedco 700-series Upgrades [Member]
|
Dec. 31, 2010
Capitalized interest [Member]
|
Dec. 31, 2009
Capitalized interest [Member]
|
Dec. 31, 2008
Capitalized interest [Member]
|
Dec. 31, 2007
Capitalized interest [Member]
|
Dec. 31, 2010
Mobilization costs [Member]
|
Dec. 31, 2009
Mobilization costs [Member]
|
Dec. 31, 2008
Mobilization costs [Member]
|
Dec. 31, 2007
Mobilization costs [Member]
|
|
Actual Capital Expenditures And Other Capital Additions Including Capitalized Interest [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Actual capital expenditures and other capital additions, including capitalized interest | $ 966,000,000 | $ 3,187,000,000 | $ 1,692,000,000 | $ 2,471,000,000 | $ 206,000,000 | $ 263,000,000 | $ 155,000,000 | $ 109,000,000 | $ 203,000,000 | $ 291,000,000 | $ 250,000,000 | $ 0 | $ 174,000,000 | $ 220,000,000 | $ 208,000,000 | $ 107,000,000 | $ 97,000,000 | $ 0 | $ 0 | $ 0 | $ 36,000,000 | $ 371,000,000 | $ 91,000,000 | $ 179,000,000 | $ 24,000,000 | $ 117,000,000 | $ 133,000,000 | $ 350,000,000 | $ 12,000,000 | $ 224,000,000 | $ 205,000,000 | $ 238,000,000 | $ 9,000,000 | $ 0 | $ 0 | $ 0 | $ 9,000,000 | $ 0 | $ 0 | $ 0 | $ 6,000,000 | $ 148,000,000 | $ 167,000,000 | $ 311,000,000 | $ 6,000,000 | $ 115,000,000 | $ 107,000,000 | $ 409,000,000 | $ 6,000,000 | $ 735,000,000 | $ 0 | $ 0 | $ 0 | $ 295,000,000 | $ 105,000,000 | $ 279,000,000 | $ 0 | $ 71,000,000 | $ 124,000,000 | $ 396,000,000 | $ 89,000,000 | $ 182,000,000 | $ 147,000,000 | $ 93,000,000 | $ 89,000,000 | $ 155,000,000 | $ 0 | $ 0 | |||||||||||||||||
Total capital expenditures and other capital additions, including capitalized interest | 8,316,000,000 | 733,000,000 | 744,000,000 | 709,000,000 | 97,000,000 | 677,000,000 | 624,000,000 | 679,000,000 | 9,000,000 | 9,000,000 | 632,000,000 | 637,000,000 | 741,000,000 | 679,000,000 | 591,000,000 | 511,000,000 | 244,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Initial investment in construction project | 109,000,000 | 195,000,000 | 350,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Initial installment payment | 97,000,000 | 9,000,000 | 9,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total purchase price of completed construction project | 186,000,000 | 186,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Percentage of costs in construction project incurred by joint venture (in hundredths) | 100.00% | 100.00% | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ownership interest in joint venture (in hundredths) | 45.00% | 50.00% | 65.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Percentage interest in joint venture held by an unaffiliated party (in hundredths) | 50.00% | 35.00% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Name of joint venture company | ADDCL | TPDI | TPDI | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Non-cash net additions to property and equipment for the delivery of Petrobras 10000 | 716,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Capital costs incurred by Petrobras and Mitsui for the construction of the Petrobras 10000 | 716,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other capital expenditures for the construction of the Petrobras 10000 | 19,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Term of capital lease agreement for the Petrobras 10000 (in years) | 20Y | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Bargain purchase price for the Petrobras 10000 | 1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Expansion [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Construction work in progress | 1,500,000,000 | 3,700,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition cost for GSF Explorer, formerly held under capital lease | 15,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dispositions [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of Midwater Floaters sold | 2 | 2 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net cash proceeds from sale of assets | 60,000,000 | 18,000,000 | 348,000,000 | 38,000,000 | 10,000,000 | 320,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Non-cash proceeds in the form of notes receivable from sale of assets | 165,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Gain (loss) on the sale of assets | 257,000,000 | (9,000,000) | (7,000,000) | (15,000,000) | 5,000,000 | 9,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Gain (loss) on the sale of assets per diluted share (in dollars per share) | $ (0.040000000) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net proceeds received for the exchange of the company's ownership interest | 4,000,000 | 38,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maximum carrying value of Transocean Mercury classified as asset held for sale | 1,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Deepwater Horizon [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Insured value of drilling unit lost | 560,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from insurance recoveries for loss of drilling unit | 560,000,000 | 0 | 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Recognized gain on loss of drilling unit | $ 267,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Recognized gain on loss of drilling unit per dilutive share (in dollars per share) | $ 0.8300000 |
X | ||||||||||
- Definition
Represents actual capital expenditures and other capital additions, including capitalized interest for major construction projects, incurred during the current year. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Represents cumulative actual capital expenditures and other capital additions, including capitalized interest for major construction projects, since inception No definition available.
|
X | ||||||||||
- Definition
Capital costs incurred by rig builders for the construction of an offshore drilling rig. No definition available.
|
X | ||||||||||
- Definition
The bargain purchase price for the asset under capital lease. No definition available.
|
X | ||||||||||
- Definition
The cash outflow for acquisition of GSF Explorer, an asset previously held under capital lease. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The gains and losses included in earnings resulting from the sale or disposal of tangible assets per each share of dilutive common stock. No definition available.
|
X | ||||||||||
- Definition
Represents the initial installment payment for the capital addition. No definition available.
|
X | ||||||||||
- Definition
Represents the initial investment in the construction project. No definition available.
|
X | ||||||||||
- Definition
The total insured value of the Ultra-Deepwater Floater drilling rig, not subject to a deductible, that was lost at sea. No definition available.
|
X | ||||||||||
- Definition
Maximum carrying value of property and equipment recorded as assets held for sale. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
Non-cash additions to property and equipment used in the normal conduct of business and not intended for resale. No definition available.
|
X | ||||||||||
- Definition
The value of non-cash proceeds in the form of notes receivable received from the sale of assets. No definition available.
|
X | ||||||||||
- Definition
Other capital expenditures included in the cost of the construction project. No definition available.
|
X | ||||||||||
- Definition
Represents the percentage of expenditures incurred since investment in the construction project. No definition available.
|
X | ||||||||||
- Definition
The difference between the sale price and the book value of Ultra-Deepwater Floater per share of dilutive common stock that was lost during the reporting period. No definition available.
|
X | ||||||||||
- Definition
The difference between the sale price and the book value of Ultra-Deepwater Floater that was lost during the reporting period. No definition available.
|
X | ||||||||||
- Definition
The term of the capital lease agreement, in years. No definition available.
|
X | ||||||||||
- Definition
Represents the total purchase price of the construction project to be paid by the company upon the project's completion. No definition available.
|
X | ||||||||||
- Definition
Carrying amount at the balance sheet date of long-lived asset under construction that include construction costs to date on capital projects that have not been completed and assets being constructed that are not ready to be placed into service. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
This item represents the amount of net sales proceeds received on disposal of an equity method investment. No definition available.
|
X | ||||||||||
- Definition
The percentage of ownership of common stock or equity participation in the investee accounted for under the equity method of accounting. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The gains and losses included in earnings resulting from the sale or disposal of tangible assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The equity interest of noncontrolling shareholders, partners or other equity holders in consolidated entity. No definition available.
|
X | ||||||||||
- Definition
The cash inflow from the amounts received by the insured under the terms of an insurance contract settlement. This element pertains only to insurance proceeds related to investments, for example fixed assets. It excludes insurance settlements classified as operating cash flows. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The cash inflow from the sale of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
Goodwill and Other Intangibles Assets (Details) (USD $)
In Millions, unless otherwise specified |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2010
|
Dec. 31, 2009
|
Dec. 31, 2008
|
|
Goodwill [Roll Forward] | |||
Gross carrying amount before purchase price adjustment | $ 10,810 | $ 10,798 | |
Accumulated impairment before purchase price adjustment | (2,670) | (2,670) | |
Net carrying amount before purchase price adjustment | 8,134 | 8,128 | |
Gross carrying amount, purchase price adjustment | 0 | ||
Accumulated impairment, purchase price adjustment | 0 | 0 | |
Net carrying amount, purchase price adjustment | 0 | 6 | |
Goodwill Gross Carrying Amount Impairment | 0 | 0 | |
Accumulated impairment, impairment | (2) | 0 | |
Net carrying amount, impairment | (2) | 0 | |
Gross carrying amount after purchase price adjustment and impairment | 10,804 | 10,810 | 10,798 |
Accumulated impairment after purchase price adjustment and impairment | (2,672) | (2,670) | (2,670) |
Net carrying amount after purchase price adjustment and impairment | 8,132 | 8,134 | 8,128 |
Acquired finite-lived intangible assets, net [Abstract] | |||
Net carrying amount, beginning of period | 64 | ||
Accumulated amortization and impairment, impairment | 49 | 16 | |
Net carrying amount, end of period | 59 | 64 | |
Estimated net future amortization expense (income) [Abstract] | |||
Amortization period for customer relationships (in years) | 15Y | ||
Drilling Contract Intangible Assets [Member]
|
|||
Acquired finite-lived intangible assets, net [Abstract] | |||
Gross carrying amount beginning of period | 191 | 191 | 191 |
Accumulated amortization and impairment, beginning of period | (167) | (123) | |
Net carrying amount, beginning of period | 24 | 68 | |
Gross carrying amount, amortization | 0 | 0 | |
Accumulated amortization and impairment, amortization | (18) | (44) | |
Net carrying amount, amortization | (18) | (44) | |
Gross carrying amount, end of period | 191 | 191 | 191 |
Accumulated amortization and impairment, end of period | (185) | (167) | |
Net carrying amount, end of period | 6 | 24 | |
Estimated net future amortization expense (income) [Abstract] | |||
2011 | (45) | ||
2012 | (42) | ||
2013 | (25) | ||
2014 | (15) | ||
2015 | (14) | ||
Thereafter | (6) | ||
Total estimated net future amortization expense (income) | (147) | ||
Customer Relationships [Member]
|
|||
Acquired finite-lived intangible assets, net [Abstract] | |||
Gross carrying amount beginning of period | 148 | 148 | 148 |
Accumulated amortization and impairment, beginning of period | (84) | (27) | |
Net carrying amount, beginning of period | 64 | 121 | |
Gross carrying amount, amortization | 0 | 0 | |
Accumulated amortization and impairment, amortization | (5) | (8) | |
Net carrying amount, amortization | (5) | (8) | |
Gross carrying amount, impairment | 0 | 0 | |
Accumulated amortization and impairment, impairment | 0 | (49) | |
Net carrying amount, impairment | 0 | (49) | |
Gross carrying amount, end of period | 148 | 148 | 148 |
Accumulated amortization and impairment, end of period | (89) | (84) | |
Net carrying amount, end of period | 59 | 64 | |
Estimated net future amortization expense (income) [Abstract] | |||
2011 | 5 | ||
2012 | 5 | ||
2013 | 5 | ||
2014 | 5 | ||
2015 | 5 | ||
Thereafter | 34 | ||
Total estimated net future amortization expense (income) | 59 | ||
Total Intangible Assets [Member]
|
|||
Acquired finite-lived intangible assets, net [Abstract] | |||
Gross carrying amount beginning of period | 339 | 339 | 339 |
Accumulated amortization and impairment, beginning of period | (252) | (150) | |
Net carrying amount, beginning of period | 87 | 189 | |
Gross carrying amount, amortization | 0 | 0 | |
Accumulated amortization and impairment, amortization | (23) | (53) | |
Net carrying amount, amortization | (23) | (53) | |
Gross carrying amount, impairment | 0 | 0 | |
Accumulated amortization and impairment, impairment | 0 | (49) | |
Net carrying amount, impairment | 0 | (49) | |
Gross carrying amount, end of period | 339 | 339 | 339 |
Accumulated amortization and impairment, end of period | (275) | (252) | |
Net carrying amount, end of period | 64 | 87 | |
Drilling Contract Intangible Liabilities [Member]
|
|||
Acquired finite-lived intangible assets, net [Abstract] | |||
Gross carrying amount beginning of period | 1,494 | 1,494 | 1,494 |
Accumulated amortization and impairment, beginning of period | (1,226) | (901) | |
Net carrying amount, beginning of period | 268 | 593 | |
Gross carrying amount, amortization | 0 | 0 | |
Accumulated amortization and impairment, amortization | (116) | (325) | |
Net carrying amount, amortization | (116) | (325) | |
Gross carrying amount, end of period | 1,494 | 1,494 | 1,494 |
Accumulated amortization and impairment, end of period | (1,342) | (1,226) | |
Net carrying amount, end of period | 152 | 268 | |
ADTI Trade name [Member]
|
|||
Indefinite-lived intangible asset, net [Abstract] | |||
Gross carrying amount, beginning balance | 76 | 76 | |
Accumulated impairment, beginning balance | (37) | (31) | |
Net carrying amount, beginning balance | 39 | 45 | |
Gross carrying amount, impairment | 0 | 0 | |
Accumulated impairment, impairment | 0 | (6) | |
Net carrying amount, impairment | 0 | (6) | |
Gross carrying amount, ending balance | 76 | 76 | |
Accumulated impairment, ending balance | (37) | (37) | |
Net carrying amount, ending balance | 39 | 39 | |
Contract Drilling Services [Member]
|
|||
Goodwill [Roll Forward] | |||
Gross carrying amount before purchase price adjustment | 10,626 | 10,620 | |
Accumulated impairment before purchase price adjustment | (2,494) | (2,494) | |
Net carrying amount before purchase price adjustment | 8,132 | 8,126 | |
Gross carrying amount, purchase price adjustment | 0 | 6 | |
Accumulated impairment, purchase price adjustment | 0 | 0 | |
Net carrying amount, purchase price adjustment | 0 | 6 | |
Gross carrying amount after purchase price adjustment and impairment | 10,626 | 10,626 | |
Accumulated impairment after purchase price adjustment and impairment | (2,494) | (2,494) | |
Net carrying amount after purchase price adjustment and impairment | 8,132 | 8,132 | |
Drilling Management Services [Member]
|
|||
Goodwill [Roll Forward] | |||
Gross carrying amount after purchase price adjustment and impairment | 176 | 176 | 176 |
Accumulated impairment after purchase price adjustment and impairment | (176) | (176) | (176) |
Net carrying amount after purchase price adjustment and impairment | 0 | 0 | 0 |
Oil and Gas Properties [Member]
|
|||
Goodwill [Roll Forward] | |||
Gross carrying amount before purchase price adjustment | 2 | 2 | |
Accumulated impairment before purchase price adjustment | 0 | 0 | |
Net carrying amount before purchase price adjustment | 2 | 2 | |
Goodwill Gross Carrying Amount Impairment | 0 | 0 | |
Accumulated impairment, impairment | (2) | 0 | |
Net carrying amount, impairment | (2) | 0 | |
Gross carrying amount after purchase price adjustment and impairment | 2 | 2 | |
Accumulated impairment after purchase price adjustment and impairment | (2) | 0 | |
Net carrying amount after purchase price adjustment and impairment | $ 0 | $ 2 |
X | ||||||||||
- Definition
The period (in years) over which contract intangible revenues are recognized. No definition available.
|
X | ||||||||||
- Definition
Adjustment to gross carrying amount from aggregate amount of amortization expense recognized for intangible asset during the period. A recognized intangible asset shall be amortized over its estimated useful life to the reporting entity unless that life is determined to be indefinite. If an intangible asset has a finite useful life, but the precise length of that life is not known, that intangible asset shall be amortized over the best estimate of its useful life. No definition available.
|
X | ||||||||||
- Definition
Adjustment to gross carrying amount from the amount of impairment loss recognized in the period resulting from the write-down of the carrying amount of a finite-lived intangible asset to fair value. No definition available.
|
X | ||||||||||
- Definition
Adjustment to net carrying amount from aggregate amount of amortization expense recognized for intangible asset during the period. A recognized intangible asset shall be amortized over its estimated useful life to the reporting entity unless that life is determined to be indefinite. If an intangible asset has a finite useful life, but the precise length of that life is not known, that intangible asset shall be amortized over the best estimate of its useful life. No definition available.
|
X | ||||||||||
- Definition
Adjustment to net carrying amount from the amount of impairment loss recognized in the period resulting from the write-down of the carrying amount of a finite-lived intangible asset to fair value. No definition available.
|
X | ||||||||||
- Definition
The aggregate amount of amortization expense expected to be recognized after the fifth twelve-month period following the balance sheet date. No definition available.
|
X | ||||||||||
- Definition
The cumulative losses that have been recognized in the income statement resulting from the write-down of goodwill after comparing the implied fair value of reporting unit goodwill with the carrying amount of that goodwill. Goodwill is assessed at least annually for impairment. No definition available.
|
X | ||||||||||
- Definition
Adjustment to accumulated impairment resulting from net changes to the recorded value of accumulated impairment for foreign currency translation adjustments and purchase accounting adjustments needed to revise the carrying amount of goodwill to fair value. No definition available.
|
X | ||||||||||
- Definition
Gross carrying amount of goodwill as of the balance sheet date, which is the cumulative amount paid in excess of the fair value of net assets acquired in one or more business combination transactions. No definition available.
|
X | ||||||||||
- Definition
Adjustment to gross carrying amount from loss recognized during the period that results from the write-down of goodwill after comparing the implied fair value of reporting unit goodwill with the carrying amount of that goodwill. Goodwill is assessed at least annually for impairment. No definition available.
|
X | ||||||||||
- Definition
Adjustment to net carrying amount of goodwill from loss recognized during the period that results from the write-down of goodwill after comparing the implied fair value of reporting unit goodwill with the carrying amount of that goodwill. Goodwill is assessed at least annually for impairment. No definition available.
|
X | ||||||||||
- Definition
Reflects net changes to the net carrying amount of goodwill resulting from purchase accounting adjustments that occur during the period of evaluation for allocating the purchase price to the fair value of net assets. No definition available.
|
X | ||||||||||
- Definition
The cumulative losses that have been recognized in the income statement resulting from the write-down of indefinite-lived intangible assets (excluding goodwill) after comparing the implied fair value of the indefinite-lived intangible assets (excluding goodwill) with the carrying amount of the indefinite-lived intangible assets (excluding goodwill). No definition available.
|
X | ||||||||||
- Definition
Gross carrying amount of indefinite-lived intangible assets (excluding goodwill) as of the balance sheet date, acquired in one or more business combination transactions. No definition available.
|
X | ||||||||||
- Definition
Adjustment to gross carrying amount from Impairment recognized during the period and allocated to the reportable segment that results from the write-down of indefinite-lived intangible assets after comparing the implied fair value of reporting unit indefinite-lived intangible assets with the carrying amount of that indefinite-lived intangible assets, which are assessed at least annually for impairment. No definition available.
|
X | ||||||||||
- Definition
Adjustment to net carrying amount from Impairment recognized during the period and allocated to the reportable segment that results from the write-down of indefinite-lived intangible assets after comparing the implied fair value of reporting unit indefinite-lived intangible assets with the carrying amount of that indefinite-lived intangible assets, which are assessed at least annually for impairment. No definition available.
|
X | ||||||||||
- Definition
The accumulated amount of amortization of a major finite-lived intangible asset class. A major class is composed of intangible assets that can be grouped together because they are similar, either by their nature or by their use in the operations of a company. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Aggregate amount of amortization expense recognized for intangible asset during the period. A recognized intangible asset shall be amortized over its estimated useful life to the reporting entity unless that life is determined to be indefinite. If an intangible asset has a finite useful life, but the precise length of that life is not known, that intangible asset shall be amortized over the best estimate of its useful life. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The aggregate estimated amortization expense for each of the five succeeding fiscal years for intangible assets subject to amortization. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Sum of the gross carrying amounts before accumulated amortization as of the balance sheet date of all intangible assets having statutory or estimated useful lives. The aggregate gross carrying amount (including any previously recognized impairment charges) of a major finite-lived intangible asset class. A major class is composed of intangible assets that can be grouped together because they are similar, either by their nature or by their use in the operations of a company. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The aggregate sum of gross carrying value of a major finite-lived intangible asset class, less accumulated amortization and any impairment charges. A major class is composed of intangible assets that can be grouped together because they are similar, either by their nature or by their use in the operations of a company. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The amount of amortization expense expected to be recognized during the fifth twelve-month period following the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The amount of amortization expense expected to be recognized during the fourth twelve-month period following the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The amount of amortization expense expected to be recognized during the twelve-month period following the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The amount of amortization expense expected to be recognized during the third twelve-month period following the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The amount of amortization expense expected to be recognized during the second twelve-month period following the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Carrying amount as of the balance sheet date, which is the cumulative amount paid, adjusted for any amortization recognized prior to adoption of FAS 142 and for any impairment charges, in excess of the fair value of net assets acquired in one or more business combination transactions. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Loss recognized during the period that results from the write-down of goodwill after comparing the implied fair value of reporting unit goodwill with the carrying amount of that goodwill. Goodwill is assessed at least annually for impairment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Reflects net changes to the recorded value of goodwill for foreign currency translation adjustments and purchase accounting adjustments needed to revise the carrying amount of goodwill to fair value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The amount of impairment loss recognized in the period resulting from the write-down of the carrying amount of a finite-lived intangible asset to fair value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Sum of the carrying amounts (original costs for current and prior period additions adjusted for impairment, if any) as of the balance sheet date of intangible assets, excluding goodwill, having a projected indefinite period of benefit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Impairment recognized during the period and allocated to the reportable segment that results from the write-down of indefinite-lived intangible assets after comparing the implied fair value of reporting unit indefinite-lived intangible assets with the carrying amount of that indefinite-lived intangible assets, which are assessed at least annually for impairment. No definition available.
|
Debt (Details) (USD $)
|
1 Months Ended | 12 Months Ended | ||||||
---|---|---|---|---|---|---|---|---|
Mar. 31, 2010
|
Dec. 31, 2010
|
Dec. 31, 2009
|
Dec. 31, 2008
|
|||||
Long-term debt by current and noncurrent [Abstract] | ||||||||
Total debt | $ 11,221,000,000 | $ 11,717,000,000 | ||||||
Debt due within one year | 2,012,000,000 | 1,868,000,000 | ||||||
Long-term debt | 9,209,000,000 | 9,849,000,000 | ||||||
Percentage ownership interest in Transocean Inc. by Transocean Ltd. (in hundredths) | 100.00% | |||||||
Independent assets and operations of Transocean Inc. as a percentage of total consolidated assets and operations of Transocean Ltd. | 2.00% | |||||||
Scheduled maturities of debt [Abstract] | ||||||||
2011 | 2,065,000,000 | |||||||
2012 | 1,838,000,000 | |||||||
2013 | 868,000,000 | |||||||
2014 | 122,000,000 | |||||||
2015 | 1,463,000,000 | |||||||
Thereafter | 5,017,000,000 | |||||||
Total debt, excluding unamortized discounts, premiums and fair value adjustments | 11,373,000,000 | |||||||
Total unamortized discounts, premiums and fair value adjustments | (152,000,000) | |||||||
Total debt | 11,221,000,000 | 11,717,000,000 | ||||||
Cash payment to acquire asset formerly held under capital lease | 15,000,000 | |||||||
Carrying amounts of Convertible Senior Notes [Abstract] | ||||||||
Carrying amount of liability component | 11,221,000,000 | 11,717,000,000 | ||||||
Gain (loss) on retirement of debt | (33,000,000) | (29,000,000) | (3,000,000) | |||||
ODL Loan Facility [Member]
|
||||||||
Long-term debt by current and noncurrent [Abstract] | ||||||||
Total debt | 10,000,000 | 10,000,000 | ||||||
Debt due within one year | 10,000,000 | 10,000,000 | ||||||
Scheduled maturities of debt [Abstract] | ||||||||
Total debt | 10,000,000 | 10,000,000 | ||||||
Debt instrument face amount | 10,000,000 | 10,000,000 | ||||||
Carrying amounts of Convertible Senior Notes [Abstract] | ||||||||
Carrying amount of liability component | 10,000,000 | 10,000,000 | ||||||
Commercial paper program [Member]
|
||||||||
Long-term debt by current and noncurrent [Abstract] | ||||||||
Total debt | 88,000,000 | [1] | 281,000,000 | [1] | ||||
Debt due within one year | 88,000,000 | [1] | 281,000,000 | [1] | ||||
Scheduled maturities of debt [Abstract] | ||||||||
Total debt | 88,000,000 | [1] | 281,000,000 | [1] | ||||
Credit facility maximum borrowing capacity | 1,500,000,000 | |||||||
Credit facility weighted-average interest rate (in hundredths) | 1.00% | |||||||
Carrying amounts of Convertible Senior Notes [Abstract] | ||||||||
Carrying amount of liability component | 88,000,000 | [1] | 281,000,000 | [1] | ||||
Notes Due April 2011 [Member]
|
||||||||
Long-term debt by current and noncurrent [Abstract] | ||||||||
Total debt | 167,000,000 | [1] | 170,000,000 | [1] | ||||
Debt due within one year | 167,000,000 | [1] | 0 | [1] | ||||
Debt instrument interest rate stated percentage (in hundredths) | 6.625% | 6.625% | ||||||
Debt instrument maturity date | 2011-04 | 2011-04 | ||||||
Scheduled maturities of debt [Abstract] | ||||||||
Total debt | 167,000,000 | [1] | 170,000,000 | [1] | ||||
Debt instrument face amount | 700,000,000 | 700,000,000 | ||||||
Carrying amounts of Convertible Senior Notes [Abstract] | ||||||||
Principal amount outstanding | 166,000,000 | |||||||
Carrying amount of liability component | 167,000,000 | [1] | 170,000,000 | [1] | ||||
Notes Due February 2013 [Member]
|
||||||||
Long-term debt by current and noncurrent [Abstract] | ||||||||
Total debt | 255,000,000 | 247,000,000 | ||||||
Debt instrument interest rate stated percentage (in hundredths) | 5.00% | 5.00% | ||||||
Debt instrument maturity date | 2013-02 | 2013-02 | ||||||
Scheduled maturities of debt [Abstract] | ||||||||
Total debt | 255,000,000 | 247,000,000 | ||||||
Debt redemption percentage of principal to be repaid (in hundredths) | 100.00% | |||||||
Carrying amounts of Convertible Senior Notes [Abstract] | ||||||||
Principal amount outstanding | 250,000,000 | |||||||
Carrying amount of liability component | 255,000,000 | 247,000,000 | ||||||
Senior Notes Due March 2013 [Member]
|
||||||||
Long-term debt by current and noncurrent [Abstract] | ||||||||
Total debt | 511,000,000 | [1] | 496,000,000 | [1] | ||||
Debt instrument interest rate stated percentage (in hundredths) | 5.25% | 5.25% | ||||||
Debt instrument maturity date | 2013-03 | 2013-03 | ||||||
Scheduled maturities of debt [Abstract] | ||||||||
Total debt | 511,000,000 | [1] | 496,000,000 | [1] | ||||
Debt instrument face amount | 500,000,000 | 500,000,000 | ||||||
Debt redemption percentage of principal to be repaid (in hundredths) | 100.00% | |||||||
Carrying amounts of Convertible Senior Notes [Abstract] | ||||||||
Principal amount outstanding | 500,000,000 | |||||||
Carrying amount of liability component | 511,000,000 | [1] | 496,000,000 | [1] | ||||
TPDI Credit Facilities Due March 2015 [Member]
|
||||||||
Long-term debt by current and noncurrent [Abstract] | ||||||||
Total debt | 560,000,000 | 581,000,000 | ||||||
Debt due within one year | 70,000,000 | 52,000,000 | ||||||
Debt instrument maturity date | 2015-03 | 2015-03 | ||||||
Scheduled maturities of debt [Abstract] | ||||||||
Total debt | 560,000,000 | 581,000,000 | ||||||
Debt instrument face amount | 560,000,000 | 581,000,000 | ||||||
Credit facility maximum borrowing capacity | 1,265,000,000 | |||||||
Credit facility weighted-average interest rate (in hundredths) | 1.90% | |||||||
Letters of credit issued and outstanding | 60,000,000 | |||||||
Aggregate commitment of subsidiary in secured term loan | 595,000,000 | |||||||
Credit facility amount outstanding | 1,100,000,000 | |||||||
TPDI debt due to a subsidiary and eliminated in consolidation | 543,000,000 | |||||||
Carrying amounts of Convertible Senior Notes [Abstract] | ||||||||
Carrying amount of liability component | 560,000,000 | 581,000,000 | ||||||
Senior Notes Due November 2015 [Member]
|
||||||||
Long-term debt by current and noncurrent [Abstract] | ||||||||
Total debt | 1,099,000,000 | [1] | 0 | [1] | ||||
Debt instrument interest rate stated percentage (in hundredths) | 4.95% | 4.95% | ||||||
Debt instrument maturity date | 2015-11 | 2015-11 | ||||||
Scheduled maturities of debt [Abstract] | ||||||||
Total debt | 1,099,000,000 | [1] | 0 | [1] | ||||
Debt instrument face amount | 1,100,000,000 | 1,100,000,000 | ||||||
Debt redemption percentage of principal to be repaid (in hundredths) | 100.00% | |||||||
Carrying amounts of Convertible Senior Notes [Abstract] | ||||||||
Principal amount outstanding | 1,100,000,000 | |||||||
Carrying amount of liability component | 1,099,000,000 | [1] | 0 | [1] | ||||
ADDCL Credit Facilities Due November 2017 [Member]
|
||||||||
Long-term debt by current and noncurrent [Abstract] | ||||||||
Total debt | 242,000,000 | 454,000,000 | ||||||
Debt due within one year | 25,000,000 | 248,000,000 | ||||||
Debt instrument maturity date | 2017-11 | 2017-11 | ||||||
Scheduled maturities of debt [Abstract] | ||||||||
Total debt | 242,000,000 | 454,000,000 | ||||||
Carrying amounts of Convertible Senior Notes [Abstract] | ||||||||
Carrying amount of liability component | 242,000,000 | 454,000,000 | ||||||
Senior Notes Due March 2018 [Member]
|
||||||||
Long-term debt by current and noncurrent [Abstract] | ||||||||
Total debt | 997,000,000 | [1] | 997,000,000 | [1] | ||||
Debt instrument interest rate stated percentage (in hundredths) | 6.00% | 6.00% | ||||||
Debt instrument maturity date | 2018-03 | 2018-03 | ||||||
Scheduled maturities of debt [Abstract] | ||||||||
Total debt | 997,000,000 | [1] | 997,000,000 | [1] | ||||
Debt instrument face amount | 1,000,000,000 | 1,000,000,000 | ||||||
Debt redemption percentage of principal to be repaid (in hundredths) | 100.00% | |||||||
Carrying amounts of Convertible Senior Notes [Abstract] | ||||||||
Principal amount outstanding | 1,000,000,000 | |||||||
Carrying amount of liability component | 997,000,000 | [1] | 997,000,000 | [1] | ||||
Senior Notes Due April 2018 [Member]
|
||||||||
Long-term debt by current and noncurrent [Abstract] | ||||||||
Total debt | 247,000,000 | [1] | 247,000,000 | [1] | ||||
Debt instrument interest rate stated percentage (in hundredths) | 7.375% | 7.375% | ||||||
Debt instrument maturity date | 2018-04 | 2018-04 | ||||||
Scheduled maturities of debt [Abstract] | ||||||||
Total debt | 247,000,000 | [1] | 247,000,000 | [1] | ||||
Debt instrument face amount | 247,000,000 | 247,000,000 | ||||||
Carrying amounts of Convertible Senior Notes [Abstract] | ||||||||
Principal amount outstanding | 246,000,000 | |||||||
Carrying amount of liability component | 247,000,000 | [1] | 247,000,000 | [1] | ||||
TPDI Notes Due October 2019 [Member]
|
||||||||
Long-term debt by current and noncurrent [Abstract] | ||||||||
Total debt | 148,000,000 | 148,000,000 | ||||||
Debt instrument maturity date | 2019-10 | 2019-10 | ||||||
Scheduled maturities of debt [Abstract] | ||||||||
Total debt | 148,000,000 | 148,000,000 | ||||||
Credit facility weighted-average interest rate (in hundredths) | 2.60% | |||||||
TPDI debt due to a subsidiary and eliminated in consolidation | 148,000,000 | |||||||
Carrying amounts of Convertible Senior Notes [Abstract] | ||||||||
Principal amount outstanding | 296,000,000 | |||||||
Carrying amount of liability component | 148,000,000 | 148,000,000 | ||||||
Senior Notes Due November 2020 [Member]
|
||||||||
Long-term debt by current and noncurrent [Abstract] | ||||||||
Total debt | 899,000,000 | [1] | 0 | [1] | ||||
Debt instrument interest rate stated percentage (in hundredths) | 6.50% | 6.50% | ||||||
Debt instrument maturity date | 2020-11 | 2020-11 | ||||||
Scheduled maturities of debt [Abstract] | ||||||||
Total debt | 899,000,000 | [1] | 0 | [1] | ||||
Debt instrument face amount | 900,000,000 | 900,000,000 | ||||||
Debt redemption percentage of principal to be repaid (in hundredths) | 100.00% | |||||||
Carrying amounts of Convertible Senior Notes [Abstract] | ||||||||
Principal amount outstanding | 900,000,000 | |||||||
Carrying amount of liability component | 899,000,000 | [1] | 0 | [1] | ||||
Capital lease Obligation Due July 2026 [Member]
|
||||||||
Long-term debt by current and noncurrent [Abstract] | ||||||||
Total debt | 0 | 15,000,000 | ||||||
Debt instrument maturity date | 2026-07 | 2026-07 | ||||||
Scheduled maturities of debt [Abstract] | ||||||||
Total debt | 0 | 15,000,000 | ||||||
Cash payment to acquire asset formerly held under capital lease | 15,000,000 | |||||||
Gain on debt retirement from termination of capital lease obligation | 2,000,000 | |||||||
Carrying amounts of Convertible Senior Notes [Abstract] | ||||||||
Carrying amount of liability component | 0 | 15,000,000 | ||||||
Debentures Due April 2027 [Member]
|
||||||||
Long-term debt by current and noncurrent [Abstract] | ||||||||
Total debt | 57,000,000 | [1] | 57,000,000 | [1] | ||||
Debt instrument interest rate stated percentage (in hundredths) | 8.00% | 8.00% | ||||||
Debt instrument maturity date | 2027-04 | 2027-04 | ||||||
Scheduled maturities of debt [Abstract] | ||||||||
Total debt | 57,000,000 | [1] | 57,000,000 | [1] | ||||
Debt instrument face amount | 200,000,000 | 200,000,000 | ||||||
Carrying amounts of Convertible Senior Notes [Abstract] | ||||||||
Principal amount outstanding | 57,000,000 | |||||||
Carrying amount of liability component | 57,000,000 | [1] | 57,000,000 | [1] | ||||
Notes Due April 2027 [Member]
|
||||||||
Long-term debt by current and noncurrent [Abstract] | ||||||||
Total debt | 96,000,000 | [1] | 96,000,000 | [1] | ||||
Debt instrument interest rate stated percentage (in hundredths) | 7.45% | 7.45% | ||||||
Debt instrument maturity date | 2027-04 | 2027-04 | ||||||
Scheduled maturities of debt [Abstract] | ||||||||
Total debt | 96,000,000 | [1] | 96,000,000 | [1] | ||||
Debt instrument face amount | 100,000,000 | 100,000,000 | ||||||
Carrying amounts of Convertible Senior Notes [Abstract] | ||||||||
Principal amount outstanding | 100,000,000 | |||||||
Carrying amount of liability component | 96,000,000 | [1] | 96,000,000 | [1] | ||||
Senior Notes Due June 2028 [Member]
|
||||||||
Long-term debt by current and noncurrent [Abstract] | ||||||||
Total debt | 313,000,000 | 313,000,000 | ||||||
Debt instrument interest rate stated percentage (in hundredths) | 7.00% | 7.00% | ||||||
Debt instrument maturity date | 2028-06 | 2028-06 | ||||||
Scheduled maturities of debt [Abstract] | ||||||||
Total debt | 313,000,000 | 313,000,000 | ||||||
Debt instrument face amount | 300,000,000 | 300,000,000 | ||||||
Debt redemption percentage of principal to be repaid (in hundredths) | 100.00% | |||||||
Carrying amounts of Convertible Senior Notes [Abstract] | ||||||||
Principal amount outstanding | 300,000,000 | |||||||
Carrying amount of liability component | 313,000,000 | 313,000,000 | ||||||
Capital Lease Contract Due August 2029 [Member]
|
||||||||
Long-term debt by current and noncurrent [Abstract] | ||||||||
Total debt | 694,000,000 | 711,000,000 | ||||||
Debt due within one year | 16,000,000 | 16,000,000 | ||||||
Debt instrument maturity date | 2029-08 | 2029-08 | ||||||
Scheduled maturities of debt [Abstract] | ||||||||
Total debt | 694,000,000 | 711,000,000 | ||||||
Carrying amounts of Convertible Senior Notes [Abstract] | ||||||||
Carrying amount of liability component | 694,000,000 | 711,000,000 | ||||||
Notes Due April 2031 [Member]
|
||||||||
Long-term debt by current and noncurrent [Abstract] | ||||||||
Total debt | 598,000,000 | [1] | 598,000,000 | [1] | ||||
Debt instrument interest rate stated percentage (in hundredths) | 7.50% | 7.50% | ||||||
Debt instrument maturity date | 2031-04 | 2031-04 | ||||||
Scheduled maturities of debt [Abstract] | ||||||||
Total debt | 598,000,000 | [1] | 598,000,000 | [1] | ||||
Debt instrument face amount | 600,000,000 | 600,000,000 | ||||||
Carrying amounts of Convertible Senior Notes [Abstract] | ||||||||
Carrying amount of liability component | 598,000,000 | [1] | 598,000,000 | [1] | ||||
Series A Convertible Senior Notes Due December 2037 [Member]
|
||||||||
Long-term debt by current and noncurrent [Abstract] | ||||||||
Total debt | 11,000,000 | [1] | 1,261,000,000 | [1] | ||||
Debt due within one year | 11,000,000 | [1] | 1,261,000,000 | [1] | ||||
Debt instrument interest rate stated percentage (in hundredths) | 1.625% | 1.625% | ||||||
Debt instrument maturity date | 2037-12 | 2037-12 | ||||||
Scheduled maturities of debt [Abstract] | ||||||||
Total debt | 11,000,000 | [1] | 1,261,000,000 | [1] | ||||
Debt instrument face amount | 2,200,000,000 | 2,200,000,000 | ||||||
Number of shares received upon conversion of Convertible Senior Notes | 5.931 | |||||||
Principal amount of Convertible Senior Notes that can be converted | 1,000 | |||||||
Conversion price per share (in dollars per share) | $ 168.61 | |||||||
Convertible Senior Notes terms of conversion | Holders may convert their notes only under the following circumstances: (1) during any calendar quarter if the last reported sale price of our shares for at least 20 trading days in a period of 30 consecutive trading days ending on the last trading day of the preceding calendar quarter is more than 130 percent of the conversion price, (2) during the five business days after the average trading price per $1,000 principal amount of the notes is equal to or less than 98 percent of the average conversion value of such notes during the preceding five trading-day period as described herein, (3) during specified periods if specified distributions to holders of our shares are made or specified corporate transactions occur, (4) prior to the close of business on the business day preceding the redemption date if the notes are called for redemption or (5) on or after September 15, 2037 and prior to the close of business on the business day prior to the stated maturity of the notes. | |||||||
Carrying amounts of Convertible Senior Notes [Abstract] | ||||||||
Principal amount outstanding | 11,000,000 | 1,299,000,000 | ||||||
Unamortized discount | 0 | (38,000,000) | ||||||
Carrying amount of liability component | 11,000,000 | [1] | 1,261,000,000 | [1] | ||||
Carrying amount of equity component | 964,000,000 | 215,000,000 | ||||||
Interest expense | 58,000,000 | 85,000,000 | 97,000,000 | |||||
Aggregate principal amount of debt repurchased | 1,288,000,000 | 901,000,000 | ||||||
Aggregate cash payment made for debt repurchased | 1,288,000,000 | 865,000,000 | ||||||
Gain (loss) on retirement of debt | (28,000,000) | |||||||
Adjustment to additional paid-in capital associated with equity component of debt retired | 22,000,000 | |||||||
Series B Convertible Senior Notes Due December 2037 [Member]
|
||||||||
Long-term debt by current and noncurrent [Abstract] | ||||||||
Total debt | 1,625,000,000 | [1] | 2,057,000,000 | [1] | ||||
Debt due within one year | 1,625,000,000 | [1] | 0 | [1] | ||||
Debt instrument interest rate stated percentage (in hundredths) | 1.50% | 1.50% | ||||||
Debt instrument maturity date | 2037-12 | 2037-12 | ||||||
Scheduled maturities of debt [Abstract] | ||||||||
Total debt | 1,625,000,000 | [1] | 2,057,000,000 | [1] | ||||
Debt instrument face amount | 2,200,000,000 | 2,200,000,000 | ||||||
Debt redemption percentage of principal to be repaid (in hundredths) | 100.00% | |||||||
Number of shares received upon conversion of Convertible Senior Notes | 5.931 | |||||||
Principal amount of Convertible Senior Notes that can be converted | 1,000 | |||||||
Conversion price per share (in dollars per share) | $ 168.61 | |||||||
Convertible Senior Notes assumed repurchase date | 2011-12-20 | |||||||
Convertible Senior Notes terms of conversion | Holders may convert their notes only under the following circumstances: (1) during any calendar quarter if the last reported sale price of our shares for at least 20 trading days in a period of 30 consecutive trading days ending on the last trading day of the preceding calendar quarter is more than 130 percent of the conversion price, (2) during the five business days after the average trading price per $1,000 principal amount of the notes is equal to or less than 98 percent of the average conversion value of such notes during the preceding five trading-day period as described herein, (3) during specified periods if specified distributions to holders of our shares are made or specified corporate transactions occur, (4) prior to the close of business on the business day preceding the redemption date if the notes are called for redemption or (5) on or after September 15, 2037 and prior to the close of business on the business day prior to the stated maturity of the notes. | |||||||
Carrying amounts of Convertible Senior Notes [Abstract] | ||||||||
Principal amount outstanding | 1,680,000,000 | 2,200,000,000 | ||||||
Unamortized discount | (55,000,000) | (143,000,000) | ||||||
Carrying amount of liability component | 1,625,000,000 | [1] | 2,057,000,000 | [1] | ||||
Carrying amount of equity component | 210,000,000 | 275,000,000 | ||||||
Interest expense | 98,000,000 | 100,000,000 | 97,000,000 | |||||
Aggregate principal amount of debt repurchased | 520,000,000 | |||||||
Aggregate cash payment made for debt repurchased | 505,000,000 | |||||||
Series C Convertible Senior Notes Due December 2037 [Member]
|
||||||||
Long-term debt by current and noncurrent [Abstract] | ||||||||
Total debt | 1,605,000,000 | [1] | 1,979,000,000 | [1] | ||||
Debt instrument interest rate stated percentage (in hundredths) | 1.50% | 1.50% | ||||||
Debt instrument maturity date | 2037-12 | 2037-12 | ||||||
Scheduled maturities of debt [Abstract] | ||||||||
Total debt | 1,605,000,000 | [1] | 1,979,000,000 | [1] | ||||
Debt instrument face amount | 2,200,000,000 | 2,200,000,000 | ||||||
Debt redemption percentage of principal to be repaid (in hundredths) | 100.00% | |||||||
Number of shares received upon conversion of Convertible Senior Notes | 5.931 | |||||||
Principal amount of Convertible Senior Notes that can be converted | 1,000 | |||||||
Conversion price per share (in dollars per share) | $ 168.61 | |||||||
Convertible Senior Notes assumed repurchase date | 2012-12-20 | |||||||
Convertible Senior Notes terms of conversion | Holders may convert their notes only under the following circumstances: (1) during any calendar quarter if the last reported sale price of our shares for at least 20 trading days in a period of 30 consecutive trading days ending on the last trading day of the preceding calendar quarter is more than 130 percent of the conversion price, (2) during the five business days after the average trading price per $1,000 principal amount of the notes is equal to or less than 98 percent of the average conversion value of such notes during the preceding five trading-day period as described herein, (3) during specified periods if specified distributions to holders of our shares are made or specified corporate transactions occur, (4) prior to the close of business on the business day preceding the redemption date if the notes are called for redemption or (5) on or after September 15, 2037 and prior to the close of business on the business day prior to the stated maturity of the notes. | |||||||
Carrying amounts of Convertible Senior Notes [Abstract] | ||||||||
Principal amount outstanding | 1,722,000,000 | 2,200,000,000 | ||||||
Unamortized discount | (117,000,000) | (221,000,000) | ||||||
Carrying amount of liability component | 1,605,000,000 | [1] | 1,979,000,000 | [1] | ||||
Carrying amount of equity component | 276,000,000 | 352,000,000 | ||||||
Interest expense | 98,000,000 | 100,000,000 | 97,000,000 | |||||
Aggregate principal amount of debt repurchased | 478,000,000 | |||||||
Aggregate cash payment made for debt repurchased | 453,000,000 | |||||||
Gain (loss) on retirement of debt | 35,000,000 | |||||||
Gain (loss) on retirement of debt per diluted share (in dollars per share) | $ 0.110000000 | |||||||
Adjustment to additional paid-in capital associated with equity component of debt retired | 14,000,000 | |||||||
Senior Notes Due March 2038 [Member]
|
||||||||
Long-term debt by current and noncurrent [Abstract] | ||||||||
Total debt | 999,000,000 | [1] | 999,000,000 | [1] | ||||
Debt instrument interest rate stated percentage (in hundredths) | 6.80% | 6.80% | ||||||
Debt instrument maturity date | 2038-03 | 2038-03 | ||||||
Scheduled maturities of debt [Abstract] | ||||||||
Total debt | 999,000,000 | [1] | 999,000,000 | [1] | ||||
Debt instrument face amount | 1,000,000,000 | 1,000,000,000 | ||||||
Debt redemption percentage of principal to be repaid (in hundredths) | 100.00% | |||||||
Carrying amounts of Convertible Senior Notes [Abstract] | ||||||||
Principal amount outstanding | 1,000,000,000 | |||||||
Carrying amount of liability component | 999,000,000 | [1] | 999,000,000 | [1] | ||||
Five - Year Revolving Credit Facility Due November 2012 [Member]
|
||||||||
Long-term debt by current and noncurrent [Abstract] | ||||||||
Debt instrument maturity date | 2012-11 | 2012-11 | ||||||
Scheduled maturities of debt [Abstract] | ||||||||
Debt instrument face amount | 2,000,000,000 | 2,000,000,000 | ||||||
Credit facility maximum borrowing capacity | 2,000,000,000 | |||||||
Credit facility interest rate description | We may borrow under the Five-Year Revolving Credit Facility at either (1) the adjusted London Interbank Offered Rate ("LIBOR") plus a margin (the "Five-Year Revolving Credit Facility Margin") based on our Debt Rating (based on our current Debt Rating, a margin of 1.1 percent) or (2) the Base Rate plus the Five-Year Revolving Credit Facility Margin, less one percent per annum. | We may borrow under the Five-Year Revolving Credit Facility at either (1) the adjusted London Interbank Offered Rate ("LIBOR") plus a margin (the "Five-Year Revolving Credit Facility Margin") based on our Debt Rating (based on our current Debt Rating, a margin of 1 percent) or (2) the Base Rate plus the Five-Year Revolving Credit Facility Margin, less one percent per annum. | ||||||
Minimum facility fee on the daily amount of five-year revolving credit facility (in hundredths) | 0.10% | |||||||
Maximum facility fee on the daily amount of five-year revolving credit facility (in hundredths) | 0.30% | |||||||
Facility fee on the daily amount of the five-year revolving credit facility (in hundredths) | 0.175% | |||||||
Maximum debt to tangible capitalization ratio | 0.6 to 1.0 | |||||||
Letters of credit issued and outstanding | 81,000,000 | |||||||
Credit facility available borrowing capacity | 1,900,000,000 | |||||||
Credit facility amount outstanding | 0 | |||||||
TPDI Credit Facilities Senior Term Loan Due March 2015 [Member]
|
||||||||
Long-term debt by current and noncurrent [Abstract] | ||||||||
Debt instrument maturity date | 2015-03 | 2015-03 | ||||||
Scheduled maturities of debt [Abstract] | ||||||||
Debt instrument face amount | 1,000,000,000 | |||||||
Credit facility maximum borrowing capacity | 1,000,000,000 | |||||||
Credit facility interest rate description | LIBOR plus the applicable margin of 1.45%. | LIBOR plus the applicable margin of 1.45%. | ||||||
TPDI Credit Facilities Junior Term Loan Due March 2015 [Member]
|
||||||||
Long-term debt by current and noncurrent [Abstract] | ||||||||
Debt instrument maturity date | 2015-03 | 2015-03 | ||||||
Scheduled maturities of debt [Abstract] | ||||||||
Debt instrument face amount | 190,000,000 | |||||||
Credit facility maximum borrowing capacity | 190,000,000 | |||||||
Credit facility interest rate description | LIBOR plus the applicable margin of 2.25%. | LIBOR plus the applicable margin of 2.25%. | ||||||
TPDI Credit Facilities Revolving Credit Facility Due March 2015 [Member]
|
||||||||
Long-term debt by current and noncurrent [Abstract] | ||||||||
Debt instrument maturity date | 2015-03 | 2015-03 | ||||||
Scheduled maturities of debt [Abstract] | ||||||||
Debt instrument face amount | 75,000,000 | |||||||
Credit facility maximum borrowing capacity | 75,000,000 | |||||||
Credit facility interest rate description | LIBOR plus the applicable margin of 1.45%. | LIBOR plus the applicable margin of 1.45%. | ||||||
ADDCL Credit Facilities Tranche A Due November 2017 [Member]
|
||||||||
Long-term debt by current and noncurrent [Abstract] | ||||||||
Debt instrument maturity date | 2017-12 | 2017-12 | ||||||
Scheduled maturities of debt [Abstract] | ||||||||
Debt instrument face amount | 215,000,000 | |||||||
Credit facility maximum borrowing capacity | 215,000,000 | |||||||
Credit facility weighted-average interest rate (in hundredths) | 1.20% | |||||||
Credit facility interest rate description | Tranche A bears interest at LIBOR plus the applicable margin of 0.425 percent until the first well commencement date, currently expected to be in the first quarter of 2011, following which the applicable margin will increase to 0.725 percent. | Tranche A bears interest at LIBOR plus the applicable margin of 0.425 percent until the first well commencement date, currently expected to be in the [first quarter of 2011], following which the applicable margin will increase to 0.725 percent. | ||||||
ADDCL Credit Facilities Tranche B Due November 2017 [Member]
|
||||||||
Scheduled maturities of debt [Abstract] | ||||||||
Debt instrument face amount | 270,000,000 | |||||||
Credit facility maximum borrowing capacity | 270,000,000 | |||||||
Repayments under credit facility | 235,000,000 | |||||||
ADDCL Credit Facilities Tranche C Due November 2017 [Member]
|
||||||||
Scheduled maturities of debt [Abstract] | ||||||||
Debt instrument face amount | 399,000,000 | |||||||
Credit facility maximum borrowing capacity | 399,000,000 | |||||||
ADDCL Secondary Loan Facility Due December 2015 [Member]
|
||||||||
Long-term debt by current and noncurrent [Abstract] | ||||||||
Debt instrument maturity date | 2015-12 | 2015-12 | ||||||
Scheduled maturities of debt [Abstract] | ||||||||
Debt instrument face amount | 90,000,000 | |||||||
Credit facility maximum borrowing capacity | 90,000,000 | |||||||
Credit facility weighted-average interest rate (in hundredths) | 3.40% | |||||||
Credit facility interest rate description | The facility bears interest at LIBOR plus the applicable margin, ranging from 3.125 percent to 5.125 percent, depending on certain milestones. | The facility bears interest at LIBOR plus the applicable margin, ranging from 3.125 percent to 5.125 percent, depending on certain milestones. | ||||||
Credit facility amount outstanding | 77,000,000 | |||||||
Percent of total commitment under ADDCL secondary bank credit agreement provided by subsidiary (in hundredths) | 65.00% | |||||||
ADDCL debt provided by a subsidiary and eliminated in consolidation | 50,000,000 | |||||||
Transocean Ltd. and Subsidiaries [Member]
|
||||||||
Long-term debt by current and noncurrent [Abstract] | ||||||||
Total debt | 10,271,000,000 | 10,534,000,000 | ||||||
Debt due within one year | 1,917,000,000 | 1,568,000,000 | ||||||
Long-term debt | 8,354,000,000 | 8,966,000,000 | ||||||
Scheduled maturities of debt [Abstract] | ||||||||
2011 | 1,970,000,000 | |||||||
2012 | 1,741,000,000 | |||||||
2013 | 770,000,000 | |||||||
2014 | 22,000,000 | |||||||
2015 | 1,123,000,000 | |||||||
Thereafter | 4,797,000,000 | |||||||
Total debt, excluding unamortized discounts, premiums and fair value adjustments | 10,423,000,000 | |||||||
Total unamortized discounts, premiums and fair value adjustments | (152,000,000) | |||||||
Total debt | 10,271,000,000 | 10,534,000,000 | ||||||
Carrying amounts of Convertible Senior Notes [Abstract] | ||||||||
Carrying amount of liability component | 10,271,000,000 | 10,534,000,000 | ||||||
Transocean Ltd. and Subsidiaries [Member] | ODL Loan Facility [Member]
|
||||||||
Long-term debt by current and noncurrent [Abstract] | ||||||||
Total debt | 10,000,000 | 10,000,000 | ||||||
Debt due within one year | 10,000,000 | 10,000,000 | ||||||
Scheduled maturities of debt [Abstract] | ||||||||
Total debt | 10,000,000 | 10,000,000 | ||||||
Carrying amounts of Convertible Senior Notes [Abstract] | ||||||||
Carrying amount of liability component | 10,000,000 | 10,000,000 | ||||||
Transocean Ltd. and Subsidiaries [Member] | Commercial paper program [Member]
|
||||||||
Long-term debt by current and noncurrent [Abstract] | ||||||||
Total debt | 88,000,000 | [1] | 281,000,000 | [1] | ||||
Debt due within one year | 88,000,000 | [1] | 281,000,000 | [1] | ||||
Scheduled maturities of debt [Abstract] | ||||||||
Total debt | 88,000,000 | [1] | 281,000,000 | [1] | ||||
Carrying amounts of Convertible Senior Notes [Abstract] | ||||||||
Carrying amount of liability component | 88,000,000 | [1] | 281,000,000 | [1] | ||||
Transocean Ltd. and Subsidiaries [Member] | Notes Due April 2011 [Member]
|
||||||||
Long-term debt by current and noncurrent [Abstract] | ||||||||
Total debt | 167,000,000 | [1] | 170,000,000 | [1] | ||||
Debt due within one year | 167,000,000 | [1] | 0 | [1] | ||||
Scheduled maturities of debt [Abstract] | ||||||||
Total debt | 167,000,000 | [1] | 170,000,000 | [1] | ||||
Carrying amounts of Convertible Senior Notes [Abstract] | ||||||||
Carrying amount of liability component | 167,000,000 | [1] | 170,000,000 | [1] | ||||
Transocean Ltd. and Subsidiaries [Member] | Notes Due February 2013 [Member]
|
||||||||
Long-term debt by current and noncurrent [Abstract] | ||||||||
Total debt | 255,000,000 | 247,000,000 | ||||||
Scheduled maturities of debt [Abstract] | ||||||||
Total debt | 255,000,000 | 247,000,000 | ||||||
Carrying amounts of Convertible Senior Notes [Abstract] | ||||||||
Carrying amount of liability component | 255,000,000 | 247,000,000 | ||||||
Transocean Ltd. and Subsidiaries [Member] | Senior Notes Due March 2013 [Member]
|
||||||||
Long-term debt by current and noncurrent [Abstract] | ||||||||
Total debt | 511,000,000 | [1] | 496,000,000 | [1] | ||||
Scheduled maturities of debt [Abstract] | ||||||||
Total debt | 511,000,000 | [1] | 496,000,000 | [1] | ||||
Carrying amounts of Convertible Senior Notes [Abstract] | ||||||||
Carrying amount of liability component | 511,000,000 | [1] | 496,000,000 | [1] | ||||
Transocean Ltd. and Subsidiaries [Member] | TPDI Credit Facilities Due March 2015 [Member]
|
||||||||
Long-term debt by current and noncurrent [Abstract] | ||||||||
Total debt | 0 | 0 | ||||||
Debt due within one year | 0 | 0 | ||||||
Scheduled maturities of debt [Abstract] | ||||||||
Total debt | 0 | 0 | ||||||
Carrying amounts of Convertible Senior Notes [Abstract] | ||||||||
Carrying amount of liability component | 0 | 0 | ||||||
Transocean Ltd. and Subsidiaries [Member] | Senior Notes Due November 2015 [Member]
|
||||||||
Long-term debt by current and noncurrent [Abstract] | ||||||||
Total debt | 1,099,000,000 | [1] | 0 | [1] | ||||
Scheduled maturities of debt [Abstract] | ||||||||
Total debt | 1,099,000,000 | [1] | 0 | [1] | ||||
Carrying amounts of Convertible Senior Notes [Abstract] | ||||||||
Carrying amount of liability component | 1,099,000,000 | [1] | 0 | [1] | ||||
Transocean Ltd. and Subsidiaries [Member] | ADDCL Credit Facilities Due November 2017 [Member]
|
||||||||
Long-term debt by current and noncurrent [Abstract] | ||||||||
Total debt | 0 | 0 | ||||||
Debt due within one year | 0 | 0 | ||||||
Scheduled maturities of debt [Abstract] | ||||||||
Total debt | 0 | 0 | ||||||
Carrying amounts of Convertible Senior Notes [Abstract] | ||||||||
Carrying amount of liability component | 0 | 0 | ||||||
Transocean Ltd. and Subsidiaries [Member] | Senior Notes Due March 2018 [Member]
|
||||||||
Long-term debt by current and noncurrent [Abstract] | ||||||||
Total debt | 997,000,000 | [1] | 997,000,000 | [1] | ||||
Scheduled maturities of debt [Abstract] | ||||||||
Total debt | 997,000,000 | [1] | 997,000,000 | [1] | ||||
Carrying amounts of Convertible Senior Notes [Abstract] | ||||||||
Carrying amount of liability component | 997,000,000 | [1] | 997,000,000 | [1] | ||||
Transocean Ltd. and Subsidiaries [Member] | Senior Notes Due April 2018 [Member]
|
||||||||
Long-term debt by current and noncurrent [Abstract] | ||||||||
Total debt | 247,000,000 | [1] | 247,000,000 | [1] | ||||
Scheduled maturities of debt [Abstract] | ||||||||
Total debt | 247,000,000 | [1] | 247,000,000 | [1] | ||||
Carrying amounts of Convertible Senior Notes [Abstract] | ||||||||
Carrying amount of liability component | 247,000,000 | [1] | 247,000,000 | [1] | ||||
Transocean Ltd. and Subsidiaries [Member] | TPDI Notes Due October 2019 [Member]
|
||||||||
Long-term debt by current and noncurrent [Abstract] | ||||||||
Total debt | 0 | 0 | ||||||
Scheduled maturities of debt [Abstract] | ||||||||
Total debt | 0 | 0 | ||||||
Carrying amounts of Convertible Senior Notes [Abstract] | ||||||||
Carrying amount of liability component | 0 | 0 | ||||||
Transocean Ltd. and Subsidiaries [Member] | Senior Notes Due November 2020 [Member]
|
||||||||
Long-term debt by current and noncurrent [Abstract] | ||||||||
Total debt | 899,000,000 | [1] | 0 | [1] | ||||
Scheduled maturities of debt [Abstract] | ||||||||
Total debt | 899,000,000 | [1] | 0 | [1] | ||||
Carrying amounts of Convertible Senior Notes [Abstract] | ||||||||
Carrying amount of liability component | 899,000,000 | [1] | 0 | [1] | ||||
Transocean Ltd. and Subsidiaries [Member] | Capital lease Obligation Due July 2026 [Member]
|
||||||||
Long-term debt by current and noncurrent [Abstract] | ||||||||
Total debt | 0 | 15,000,000 | ||||||
Scheduled maturities of debt [Abstract] | ||||||||
Total debt | 0 | 15,000,000 | ||||||
Carrying amounts of Convertible Senior Notes [Abstract] | ||||||||
Carrying amount of liability component | 0 | 15,000,000 | ||||||
Transocean Ltd. and Subsidiaries [Member] | Debentures Due April 2027 [Member]
|
||||||||
Long-term debt by current and noncurrent [Abstract] | ||||||||
Total debt | 57,000,000 | [1] | 57,000,000 | [1] | ||||
Scheduled maturities of debt [Abstract] | ||||||||
Total debt | 57,000,000 | [1] | 57,000,000 | [1] | ||||
Carrying amounts of Convertible Senior Notes [Abstract] | ||||||||
Carrying amount of liability component | 57,000,000 | [1] | 57,000,000 | [1] | ||||
Transocean Ltd. and Subsidiaries [Member] | Notes Due April 2027 [Member]
|
||||||||
Long-term debt by current and noncurrent [Abstract] | ||||||||
Total debt | 96,000,000 | [1] | 96,000,000 | [1] | ||||
Scheduled maturities of debt [Abstract] | ||||||||
Total debt | 96,000,000 | [1] | 96,000,000 | [1] | ||||
Carrying amounts of Convertible Senior Notes [Abstract] | ||||||||
Carrying amount of liability component | 96,000,000 | [1] | 96,000,000 | [1] | ||||
Transocean Ltd. and Subsidiaries [Member] | Senior Notes Due June 2028 [Member]
|
||||||||
Long-term debt by current and noncurrent [Abstract] | ||||||||
Total debt | 313,000,000 | 313,000,000 | ||||||
Scheduled maturities of debt [Abstract] | ||||||||
Total debt | 313,000,000 | 313,000,000 | ||||||
Carrying amounts of Convertible Senior Notes [Abstract] | ||||||||
Carrying amount of liability component | 313,000,000 | 313,000,000 | ||||||
Transocean Ltd. and Subsidiaries [Member] | Capital Lease Contract Due August 2029 [Member]
|
||||||||
Long-term debt by current and noncurrent [Abstract] | ||||||||
Total debt | 694,000,000 | 711,000,000 | ||||||
Debt due within one year | 16,000,000 | 16,000,000 | ||||||
Scheduled maturities of debt [Abstract] | ||||||||
Total debt | 694,000,000 | 711,000,000 | ||||||
Carrying amounts of Convertible Senior Notes [Abstract] | ||||||||
Carrying amount of liability component | 694,000,000 | 711,000,000 | ||||||
Transocean Ltd. and Subsidiaries [Member] | Notes Due April 2031 [Member]
|
||||||||
Long-term debt by current and noncurrent [Abstract] | ||||||||
Total debt | 598,000,000 | [1] | 598,000,000 | [1] | ||||
Scheduled maturities of debt [Abstract] | ||||||||
Total debt | 598,000,000 | [1] | 598,000,000 | [1] | ||||
Carrying amounts of Convertible Senior Notes [Abstract] | ||||||||
Carrying amount of liability component | 598,000,000 | [1] | 598,000,000 | [1] | ||||
Transocean Ltd. and Subsidiaries [Member] | Series A Convertible Senior Notes Due December 2037 [Member]
|
||||||||
Long-term debt by current and noncurrent [Abstract] | ||||||||
Total debt | 11,000,000 | [1] | 1,261,000,000 | [1] | ||||
Debt due within one year | 11,000,000 | [1] | 1,261,000,000 | [1] | ||||
Scheduled maturities of debt [Abstract] | ||||||||
Total debt | 11,000,000 | [1] | 1,261,000,000 | [1] | ||||
Carrying amounts of Convertible Senior Notes [Abstract] | ||||||||
Carrying amount of liability component | 11,000,000 | [1] | 1,261,000,000 | [1] | ||||
Transocean Ltd. and Subsidiaries [Member] | Series B Convertible Senior Notes Due December 2037 [Member]
|
||||||||
Long-term debt by current and noncurrent [Abstract] | ||||||||
Total debt | 1,625,000,000 | [1] | 2,057,000,000 | [1] | ||||
Debt due within one year | 1,625,000,000 | [1] | 0 | |||||
Scheduled maturities of debt [Abstract] | ||||||||
Total debt | 1,625,000,000 | [1] | 2,057,000,000 | [1] | ||||
Carrying amounts of Convertible Senior Notes [Abstract] | ||||||||
Carrying amount of liability component | 1,625,000,000 | [1] | 2,057,000,000 | [1] | ||||
Transocean Ltd. and Subsidiaries [Member] | Series C Convertible Senior Notes Due December 2037 [Member]
|
||||||||
Long-term debt by current and noncurrent [Abstract] | ||||||||
Total debt | 1,605,000,000 | [1] | 1,979,000,000 | [1] | ||||
Scheduled maturities of debt [Abstract] | ||||||||
Total debt | 1,605,000,000 | [1] | 1,979,000,000 | [1] | ||||
Carrying amounts of Convertible Senior Notes [Abstract] | ||||||||
Carrying amount of liability component | 1,605,000,000 | [1] | 1,979,000,000 | [1] | ||||
Transocean Ltd. and Subsidiaries [Member] | Senior Notes Due March 2038 [Member]
|
||||||||
Long-term debt by current and noncurrent [Abstract] | ||||||||
Total debt | 999,000,000 | [1] | 999,000,000 | [1] | ||||
Scheduled maturities of debt [Abstract] | ||||||||
Total debt | 999,000,000 | [1] | 999,000,000 | [1] | ||||
Carrying amounts of Convertible Senior Notes [Abstract] | ||||||||
Carrying amount of liability component | 999,000,000 | [1] | 999,000,000 | [1] | ||||
Consolidated variable interest entities [Member]
|
||||||||
Long-term debt by current and noncurrent [Abstract] | ||||||||
Total debt | 950,000,000 | 1,183,000,000 | ||||||
Debt due within one year | 95,000,000 | 300,000,000 | ||||||
Long-term debt | 855,000,000 | 883,000,000 | ||||||
Scheduled maturities of debt [Abstract] | ||||||||
2011 | 95,000,000 | |||||||
2012 | 97,000,000 | |||||||
2013 | 98,000,000 | |||||||
2014 | 100,000,000 | |||||||
2015 | 340,000,000 | |||||||
Thereafter | 220,000,000 | |||||||
Total debt, excluding unamortized discounts, premiums and fair value adjustments | 950,000,000 | |||||||
Total unamortized discounts, premiums and fair value adjustments | 0 | |||||||
Total debt | 950,000,000 | 1,183,000,000 | ||||||
Carrying amounts of Convertible Senior Notes [Abstract] | ||||||||
Carrying amount of liability component | 950,000,000 | 1,183,000,000 | ||||||
Consolidated variable interest entities [Member] | ODL Loan Facility [Member]
|
||||||||
Long-term debt by current and noncurrent [Abstract] | ||||||||
Total debt | 0 | 0 | ||||||
Scheduled maturities of debt [Abstract] | ||||||||
Total debt | 0 | 0 | ||||||
Carrying amounts of Convertible Senior Notes [Abstract] | ||||||||
Carrying amount of liability component | 0 | 0 | ||||||
Consolidated variable interest entities [Member] | Commercial paper program [Member]
|
||||||||
Long-term debt by current and noncurrent [Abstract] | ||||||||
Total debt | 0 | [1] | 0 | [1] | ||||
Scheduled maturities of debt [Abstract] | ||||||||
Total debt | 0 | [1] | 0 | [1] | ||||
Carrying amounts of Convertible Senior Notes [Abstract] | ||||||||
Carrying amount of liability component | 0 | [1] | 0 | [1] | ||||
Consolidated variable interest entities [Member] | Notes Due April 2011 [Member]
|
||||||||
Long-term debt by current and noncurrent [Abstract] | ||||||||
Total debt | 0 | [1] | 0 | [1] | ||||
Scheduled maturities of debt [Abstract] | ||||||||
Total debt | 0 | [1] | 0 | [1] | ||||
Carrying amounts of Convertible Senior Notes [Abstract] | ||||||||
Carrying amount of liability component | 0 | [1] | 0 | [1] | ||||
Consolidated variable interest entities [Member] | Notes Due February 2013 [Member]
|
||||||||
Long-term debt by current and noncurrent [Abstract] | ||||||||
Total debt | 0 | 0 | ||||||
Scheduled maturities of debt [Abstract] | ||||||||
Total debt | 0 | 0 | ||||||
Carrying amounts of Convertible Senior Notes [Abstract] | ||||||||
Carrying amount of liability component | 0 | 0 | ||||||
Consolidated variable interest entities [Member] | Senior Notes Due March 2013 [Member]
|
||||||||
Long-term debt by current and noncurrent [Abstract] | ||||||||
Total debt | 0 | [1] | 0 | [1] | ||||
Scheduled maturities of debt [Abstract] | ||||||||
Total debt | 0 | [1] | 0 | [1] | ||||
Carrying amounts of Convertible Senior Notes [Abstract] | ||||||||
Carrying amount of liability component | 0 | [1] | 0 | [1] | ||||
Consolidated variable interest entities [Member] | TPDI Credit Facilities Due March 2015 [Member]
|
||||||||
Long-term debt by current and noncurrent [Abstract] | ||||||||
Total debt | 560,000,000 | 581,000,000 | ||||||
Debt due within one year | 70,000,000 | 52,000,000 | ||||||
Scheduled maturities of debt [Abstract] | ||||||||
Total debt | 560,000,000 | 581,000,000 | ||||||
Carrying amounts of Convertible Senior Notes [Abstract] | ||||||||
Carrying amount of liability component | 560,000,000 | 581,000,000 | ||||||
Consolidated variable interest entities [Member] | Senior Notes Due November 2015 [Member]
|
||||||||
Long-term debt by current and noncurrent [Abstract] | ||||||||
Total debt | 0 | [1] | 0 | [1] | ||||
Scheduled maturities of debt [Abstract] | ||||||||
Total debt | 0 | [1] | 0 | [1] | ||||
Carrying amounts of Convertible Senior Notes [Abstract] | ||||||||
Carrying amount of liability component | 0 | [1] | 0 | [1] | ||||
Consolidated variable interest entities [Member] | ADDCL Credit Facilities Due November 2017 [Member]
|
||||||||
Long-term debt by current and noncurrent [Abstract] | ||||||||
Total debt | 242,000,000 | 454,000,000 | ||||||
Debt due within one year | 25,000,000 | 248,000,000 | ||||||
Scheduled maturities of debt [Abstract] | ||||||||
Total debt | 242,000,000 | 454,000,000 | ||||||
Carrying amounts of Convertible Senior Notes [Abstract] | ||||||||
Carrying amount of liability component | 242,000,000 | 454,000,000 | ||||||
Consolidated variable interest entities [Member] | Senior Notes Due March 2018 [Member]
|
||||||||
Long-term debt by current and noncurrent [Abstract] | ||||||||
Total debt | 0 | [1] | 0 | [1] | ||||
Scheduled maturities of debt [Abstract] | ||||||||
Total debt | 0 | [1] | 0 | [1] | ||||
Carrying amounts of Convertible Senior Notes [Abstract] | ||||||||
Carrying amount of liability component | 0 | [1] | 0 | [1] | ||||
Consolidated variable interest entities [Member] | Senior Notes Due April 2018 [Member]
|
||||||||
Long-term debt by current and noncurrent [Abstract] | ||||||||
Total debt | 0 | [1] | 0 | [1] | ||||
Scheduled maturities of debt [Abstract] | ||||||||
Total debt | 0 | [1] | 0 | [1] | ||||
Carrying amounts of Convertible Senior Notes [Abstract] | ||||||||
Carrying amount of liability component | 0 | [1] | 0 | [1] | ||||
Consolidated variable interest entities [Member] | TPDI Notes Due October 2019 [Member]
|
||||||||
Long-term debt by current and noncurrent [Abstract] | ||||||||
Total debt | 148,000,000 | 148,000,000 | ||||||
Scheduled maturities of debt [Abstract] | ||||||||
Total debt | 148,000,000 | 148,000,000 | ||||||
Carrying amounts of Convertible Senior Notes [Abstract] | ||||||||
Carrying amount of liability component | 148,000,000 | 148,000,000 | ||||||
Consolidated variable interest entities [Member] | Senior Notes Due November 2020 [Member]
|
||||||||
Long-term debt by current and noncurrent [Abstract] | ||||||||
Total debt | 0 | [1] | 0 | [1] | ||||
Scheduled maturities of debt [Abstract] | ||||||||
Total debt | 0 | [1] | 0 | [1] | ||||
Carrying amounts of Convertible Senior Notes [Abstract] | ||||||||
Carrying amount of liability component | 0 | [1] | 0 | [1] | ||||
Consolidated variable interest entities [Member] | Capital lease Obligation Due July 2026 [Member]
|
||||||||
Long-term debt by current and noncurrent [Abstract] | ||||||||
Total debt | 0 | 0 | ||||||
Scheduled maturities of debt [Abstract] | ||||||||
Total debt | 0 | 0 | ||||||
Carrying amounts of Convertible Senior Notes [Abstract] | ||||||||
Carrying amount of liability component | 0 | 0 | ||||||
Consolidated variable interest entities [Member] | Debentures Due April 2027 [Member]
|
||||||||
Long-term debt by current and noncurrent [Abstract] | ||||||||
Total debt | 0 | [1] | 0 | [1] | ||||
Scheduled maturities of debt [Abstract] | ||||||||
Total debt | 0 | [1] | 0 | [1] | ||||
Carrying amounts of Convertible Senior Notes [Abstract] | ||||||||
Carrying amount of liability component | 0 | [1] | 0 | [1] | ||||
Consolidated variable interest entities [Member] | Notes Due April 2027 [Member]
|
||||||||
Long-term debt by current and noncurrent [Abstract] | ||||||||
Total debt | 0 | [1] | 0 | [1] | ||||
Scheduled maturities of debt [Abstract] | ||||||||
Total debt | 0 | [1] | 0 | [1] | ||||
Carrying amounts of Convertible Senior Notes [Abstract] | ||||||||
Carrying amount of liability component | 0 | [1] | 0 | [1] | ||||
Consolidated variable interest entities [Member] | Senior Notes Due June 2028 [Member]
|
||||||||
Long-term debt by current and noncurrent [Abstract] | ||||||||
Total debt | 0 | 0 | ||||||
Scheduled maturities of debt [Abstract] | ||||||||
Total debt | 0 | 0 | ||||||
Carrying amounts of Convertible Senior Notes [Abstract] | ||||||||
Carrying amount of liability component | 0 | 0 | ||||||
Consolidated variable interest entities [Member] | Capital Lease Contract Due August 2029 [Member]
|
||||||||
Long-term debt by current and noncurrent [Abstract] | ||||||||
Total debt | 0 | 0 | ||||||
Debt due within one year | 0 | 0 | ||||||
Scheduled maturities of debt [Abstract] | ||||||||
Total debt | 0 | 0 | ||||||
Carrying amounts of Convertible Senior Notes [Abstract] | ||||||||
Carrying amount of liability component | 0 | 0 | ||||||
Consolidated variable interest entities [Member] | Notes Due April 2031 [Member]
|
||||||||
Long-term debt by current and noncurrent [Abstract] | ||||||||
Total debt | 0 | [1] | 0 | [1] | ||||
Scheduled maturities of debt [Abstract] | ||||||||
Total debt | 0 | [1] | 0 | [1] | ||||
Carrying amounts of Convertible Senior Notes [Abstract] | ||||||||
Carrying amount of liability component | 0 | [1] | 0 | [1] | ||||
Consolidated variable interest entities [Member] | Series A Convertible Senior Notes Due December 2037 [Member]
|
||||||||
Long-term debt by current and noncurrent [Abstract] | ||||||||
Total debt | 0 | [1] | 0 | [1] | ||||
Debt due within one year | 0 | [1] | 0 | [1] | ||||
Scheduled maturities of debt [Abstract] | ||||||||
Total debt | 0 | [1] | 0 | [1] | ||||
Carrying amounts of Convertible Senior Notes [Abstract] | ||||||||
Carrying amount of liability component | 0 | [1] | 0 | [1] | ||||
Consolidated variable interest entities [Member] | Series B Convertible Senior Notes Due December 2037 [Member]
|
||||||||
Long-term debt by current and noncurrent [Abstract] | ||||||||
Total debt | 0 | [1] | 0 | [1] | ||||
Debt due within one year | 0 | [1] | 0 | [1] | ||||
Scheduled maturities of debt [Abstract] | ||||||||
Total debt | 0 | [1] | 0 | [1] | ||||
Carrying amounts of Convertible Senior Notes [Abstract] | ||||||||
Carrying amount of liability component | 0 | [1] | 0 | [1] | ||||
Consolidated variable interest entities [Member] | Series C Convertible Senior Notes Due December 2037 [Member]
|
||||||||
Long-term debt by current and noncurrent [Abstract] | ||||||||
Total debt | 0 | [1] | 0 | [1] | ||||
Scheduled maturities of debt [Abstract] | ||||||||
Total debt | 0 | [1] | 0 | [1] | ||||
Carrying amounts of Convertible Senior Notes [Abstract] | ||||||||
Carrying amount of liability component | 0 | [1] | 0 | [1] | ||||
Consolidated variable interest entities [Member] | Senior Notes Due March 2038 [Member]
|
||||||||
Long-term debt by current and noncurrent [Abstract] | ||||||||
Total debt | 0 | [1] | 0 | [1] | ||||
Scheduled maturities of debt [Abstract] | ||||||||
Total debt | 0 | [1] | 0 | [1] | ||||
Carrying amounts of Convertible Senior Notes [Abstract] | ||||||||
Carrying amount of liability component | 0 | [1] | 0 | [1] | ||||
Consolidated variable interest entities [Member] | ADDCL Credit Facilities Tranche A Due November 2017 [Member]
|
||||||||
Long-term debt by current and noncurrent [Abstract] | ||||||||
Debt due within one year | $ 0 | [1] | ||||||
|
X | ||||||||||
- Definition
The aggregate commitment of a subsidiary in the secured term loan which was established to finance the construction of and is secured by Dhirubhai Deepwater KG1 and Dhirubhai Deepwater KG2. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The cash outflow for acquisition of GSF Explorer, an asset previously held under capital lease. No definition available.
|
X | ||||||||||
- Definition
The number of equity instruments that the note holder would receive if the note was converted to equity. No definition available.
|
X | ||||||||||
- Definition
Conversion price per share. No definition available.
|
X | ||||||||||
- Definition
Date assumed when bondholders will exercise their options to require repurchase of the Convertible Senior Notes, which may be presented in a variety of ways (year, month and year, day, month and year, quarter, etc.). No definition available.
|
X | ||||||||||
- Definition
The amount outstanding under the TPDI Credit Facilities or TPDI Notes which is due to one of the Company's subsidiaries and is eliminated in consolidation. No definition available.
|
X | ||||||||||
- Definition
The denomination of the debt instrument that the holder of the debt instrument would relinquish if the debt was converted to equity. No definition available.
|
X | ||||||||||
- Definition
Date when the debt instrument is scheduled to be fully repaid, which may be presented in a variety of ways (year, month and year, day, month and year). No definition available.
|
X | ||||||||||
- Definition
The percentage of the principal, plus accrued interest and unpaid interest, if any, and a make-whole premium due to the debt holder if the note is called. No definition available.
|
X | ||||||||||
- Definition
The amount outstanding under the ADDCL Credit Facilities which has been provided by one of the Company's subsidiaries and is eliminated in consolidation. No definition available.
|
X | ||||||||||
- Definition
Gain on debt retirement from termination of drilling rig capital lease obligation No definition available.
|
X | ||||||||||
- Definition
Amount represents the difference between the fair value of the payments made and the carrying amount of the debt at the time of its extinguishment per diluted share. No definition available.
|
X | ||||||||||
- Definition
The independent assets and operations of Transocean Inc., other than those related to investments in its subsidiaries and balances primarily pertaining to its cash and cash equivalents and debt, as a percentage of the total consolidated assets and operations of Transocean Ltd., No definition available.
|
X | ||||||||||
- Definition
Maximum facility fee on the daily amount of the underlying commitment, whether used or unused. No definition available.
|
X | ||||||||||
- Definition
Minimum facility fee on the daily amount of the underlying commitment, whether used or unused. No definition available.
|
X | ||||||||||
- Definition
The amount of debt discounts and premiums that was originally recognized at the issuance of the instrument that has yet to be amortized and the fair value adjustment. No definition available.
|
X | ||||||||||
- Definition
Adjustment to additional paid in capital resulting from the recognition of convertible debt instruments as two separate components - a debt component and an equity component. This bifurcation may result in a basis difference associated with the liability component that represents a temporary difference for purposes of applying Statement of Financial Accounting Standards (FAS) 109, Accounting for Income Taxes. The initial recognition of deferred taxes for the tax effect of that temporary difference is as an adjustment to additional paid in capital. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Including current and noncurrent portions, aggregate carrying amount of long-term borrowings as of the balance sheet date before deducting unamortized discount or premiums (if any). May include notes payable, bonds payable, commercial loans, mortgage loans, convertible debt, subordinated debt and other types of debt, which had initial maturities beyond one year or beyond the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The carrying amount of the equity component of convertible debt which may be settled in cash upon conversion. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Interest expense related to convertible debt instruments which has been recognized for the period, including the contractual interest coupon and amortization of the debt discount, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Description of the conversion terms of a debt instrument which may include the conversion ratio (including all potential conversion ratios if contingently adjustable), type of debt or equity security into which the debt is convertible, the dollars of debt or the number of shares into which the instrument is convertible (or potentially convertible into), the conversion period, any contingencies associated with the conversion terms, and the existence and amount of a beneficial conversion feature. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Description of minimum financial levels (for example, tangible net worth and working capital) and achievement of certain financial ratios (for example, working capital ratio and debt service coverage ratio), and adherence to certain clauses which generally require or restrict certain actions (for example, entering into a debt arrangement with equal or greater seniority, and selling or discontinuing a certain business segment or material subsidiary) to be in compliance with the covenant clauses of the debt agreement. May also include a discussion of the adverse consequences that would result if the entity violates or fails to satisfy the covenants. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The stated principal amount of the debt instrument at time of issuance, which may vary from the carrying amount because of unamortized premium or discount. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Interest rate stated in the contractual debt agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of outstanding principal due under the debt instrument at the end of the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The amount of debt discount that was originally recognized at the issuance of the instrument that has yet to be amortized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The percentage of ownership of common stock or equity participation in the investee accounted for under the equity method of accounting. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Gross amount of debt extinguished. No definition available.
|
X | ||||||||||
- Definition
Amount represents the difference between the fair value of the payments made and the carrying amount of the debt at the time of its extinguishment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of current borrowing capacity under the credit facility considering any current restrictions on the amount that could be borrowed (for example, borrowings may be limited by the amount of current assets), but without considering any amounts currently outstanding under the facility. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Fair value of the amount outstanding under the credit facility Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The effective interest rate at the end of the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Description of the interest rate for the amounts borrowed under the credit facility, including the terms and the method for determining the interest rate (for example, fixed or variable, LIBOR plus a percentage, increasing rate, timing of interest rate resets, remarketing provisions). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The effective interest during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Maximum borrowing capacity under the credit facility without consideration of any current restrictions on the amount that could be borrowed or the amounts currently outstanding under the facility. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Including current and noncurrent portions, aggregate carrying amount of long-term borrowings as of the balance sheet date. May include notes payable, bonds payable, commercial loans, mortgage loans, convertible debt, subordinated debt and other types of debt, which had initial maturities beyond one year or beyond the normal operating cycle, if longer, and after deducting unamortized discount or premiums, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Total of the portions of the carrying amounts as of the balance sheet date of long-term debt, which may include notes payable, bonds payable, debentures, mortgage loans, and commercial paper, which are scheduled to be repaid within one year or the normal operating cycle, if longer, and after deducting unamortized discount or premiums, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of long-term debt maturities after year five following the date of the latest balance sheet presented in the financial statements, which may include maturities of long-term debt, sinking fund requirements, and other securities redeemable at fixed of determinable prices and dates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of long-term debt maturing within the next twelve months following the date of the latest balance sheet presented in the financial statements, which may include maturities of long-term debt, sinking fund requirements, and other securities redeemable at fixed or determinable prices and dates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of long-term debt maturing in year five following the date of the latest balance sheet presented in the financial statements, which may include maturities of long-term debt, sinking fund requirements, and other securities redeemable at fixed of determinable prices and dates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of long-term debt maturing in year four following the date of the latest balance sheet presented in the financial statements, which may include maturities of long-term debt, sinking fund requirements, and other securities redeemable at fixed of determinable prices and dates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of long-term debt maturing in year three following the date of the latest balance sheet presented in the financial statements, which may include maturities of long-term debt, sinking fund requirements, and other securities redeemable at fixed of determinable prices and dates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of long-term debt maturing in year two following the date of the latest balance sheet presented in the financial statements, which may include maturities of long-term debt, sinking fund requirements, and other securities redeemable at fixed or determinable prices and dates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Sum of the carrying values as of the balance sheet date of all long-term debt, which is debt initially having maturities due after one year from the balance sheet date or beyond the operating cycle, if longer, but excluding the portions thereof scheduled to be repaid within one year (current maturities) or the normal operating cycle, if longer, and after deducting unamortized discount or premiums, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The cash outflow from the repayment of debt instrument which can be exchanged for a specified amount of another security, typically the entity's common stock, at the option of the issuer or the holder. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The cash outflow for the settlement of obligation drawn from a contractual arrangement with the lender, including letter of credit, standby letter of credit and revolving credit arrangements, under which borrowings can be made up to a specific amount at any point in time with maturities due beyond one year or the operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Percentage of subsidiary's or equity method investee's stock owned by parent immediately after all stock transactions. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Derivatives and Hedging (Details) (USD $)
In Millions, unless otherwise specified |
12 Months Ended | |
---|---|---|
Dec. 31, 2010
|
Dec. 31, 2009
|
|
Derivative [Line Items] | ||
Notional value of interest rate swaps attributable to subsidiary | $ 543 | |
Interest Expense [Member]
|
||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Gain (loss) on interest rate cash flow hedge ineffectiveness | (1) | (1) |
Other Assets [Member]
|
||
Derivatives, Fair Value [Line Items] | ||
Interest rate cash flow hedge derivative at fair value, net | 6 | |
Interest rate fair value hedge derivative at fair value, net | 17 | |
Other Long Term Liabilities [Member]
|
||
Derivatives, Fair Value [Line Items] | ||
Interest rate cash flow hedge derivative at fair value, net | (11) | (1) |
Interest rate fair value hedge derivative at fair value, net | (4) | |
Interest Rate Swap 1 [Member]
|
||
Derivative [Line Items] | ||
Derivative, underlying risk | interest rate | |
Derivative, hedge designation | cash flow | |
Derivative, description of hedged item | borrowings under the TPDI Credit Facilities | |
Derivative, notional amount | 1,100 | |
Derivative, weighted-average fixed interest rate (in hundredths) | 2.30% | |
Derivative, average variable interest rate (in hundredths) | 0.30% | |
Interest Rate Swap 2 [Member]
|
||
Derivative [Line Items] | ||
Derivative, underlying risk | interest rate | |
Derivative, hedge designation | fair value | |
Derivative, description of hedged item | 5.25% Senior Notes | |
Derivative, notional amount | 500 | |
Derivative, average variable interest rate (in hundredths) | 3.50% | |
Interest Rate Swap 3 [Member]
|
||
Derivative [Line Items] | ||
Derivative, underlying risk | interest rate | |
Derivative, hedge designation | fair value | |
Derivative, description of hedged item | 5.00% Notes | |
Derivative, notional amount | 250 | |
Derivative, average variable interest rate (in hundredths) | 3.50% | |
Interest Rate Swap 4 [Member]
|
||
Derivative [Line Items] | ||
Derivative, underlying risk | interest rate | |
Derivative, hedge designation | cash flow | |
Derivative, description of hedged item | cash interest payments on the borrowings under the Term Loan | |
Derivative, notional amount | $ 1,000 | |
Derivative, weighted-average fixed interest rate (in hundredths) | 0.768% | |
Derivative, description of variable rate basis | one-month LIBOR |
X | ||||||||||
- Definition
Total monetary amount specified by the derivative(s). Expressed as an absolute value. No definition available.
|
X | ||||||||||
- Definition
Total monetary amount specified by the derivative(s), attributed to one subsidiary. No definition available.
|
X | ||||||||||
- Definition
Average fixed interest rate related to the group of interest rate derivatives. No definition available.
|
X | ||||||||||
- Definition
Average variable interest rate related to the group of interest rate derivatives. No definition available.
|
X | ||||||||||
- Definition
Description of the hedged item related to the derivative. Includes the type of instrument hedged, contract amount, term, and so forth. No definition available.
|
X | ||||||||||
- Definition
The reference rate for the variable rate of the interest rate derivative, such as LIBOR or the US Treasury rate and the maturity of the reference rate used, such as three months or six months LIBOR. No definition available.
|
X | ||||||||||
- Definition
The hedge designation, if any, elected for the derivative. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Description of the primary underlying risk exposure associated with the derivative. For example, interest rate risk, credit risk, foreign exchange rate risk, or overall price risk. No definition available.
|
X | ||||||||||
- Definition
The net gain (loss) during the reporting period due to ineffectiveness in interest rate cash flow hedges. Recognized in earnings. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Fair value as of the balance sheet date of all interest rate derivatives designated as cash flow hedging instruments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Fair value of all derivatives designated as interest rate fair value hedging instruments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Postemployment Benefit Plans (Details) (USD $)
|
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2010
|
Dec. 31, 2009
|
Dec. 31, 2008
|
|
Defined benefit pension plans and other postretirement employee benefit plans [Abstract] | |||
Number of other unfunded supplemental benefit plans | 2 | ||
Number of funded defined benefit plans | 2 | ||
Number of unfunded defined benefit plans | 2 | ||
Number of unfunded plans covering eligible Norway employees and former employees | 2 | ||
Change in projected benefit obligation [Roll Forward] | |||
Projected benefit obligation, beginning of period | $ 1,389,000,000 | $ 1,214,000,000 | |
Plan amendments | 0 | 5,000,000 | |
Actuarial (gains) losses, net | 45,000,000 | 39,000,000 | |
Service cost | 63,000,000 | 63,000,000 | |
Interest cost | 77,000,000 | 70,000,000 | |
Foreign currency exchange rate | (13,000,000) | 40,000,000 | |
Benefits paid | (70,000,000) | (47,000,000) | |
Participant contributions | 3,000,000 | 3,000,000 | |
Special termination benefits | 3,000,000 | 0 | 3,000,000 |
Settlements and curtailments | 1,000,000 | 2,000,000 | |
Projected benefit obligation, end of period | 1,498,000,000 | 1,389,000,000 | 1,214,000,000 |
Change in plan assets [Rollforward] | |||
Fair value of plan assets, beginning of period | 875,000,000 | 663,000,000 | |
Actual return on plan assets | 114,000,000 | 152,000,000 | |
Foreign currency exchange rate changes | (11,000,000) | 31,000,000 | |
Employer contributions | 118,000,000 | 73,000,000 | |
Participant contributions | 3,000,000 | 3,000,000 | |
Benefits paid | (70,000,000) | (47,000,000) | |
Fair value of plan assets, end of period | 1,029,000,000 | 875,000,000 | 663,000,000 |
Funded status, end of period | (469,000,000) | (514,000,000) | |
Balance sheet classification, end of period [Abstract] | |||
Pension asset, non-current | (8,000,000) | 0 | |
Accrued pension liability, current | 9,000,000 | 10,000,000 | |
Accrued pension liability, non-current | 468,000,000 | 504,000,000 | |
Accumulated other comprehensive income (loss) | (371,000,000) | (379,000,000) | |
Aggregate projected benefit obligation and fair value of plan assets for plans with a projected benefit obligation in excess of plan assets [Abstract] | |||
Projected benefit obligation | 1,414,000,000 | 1,389,000,000 | |
Fair value of plan assets | 945,000,000 | 875,000,000 | |
Accumulated benefit obligation for all defined benefit pension plans | 1,300,000,000 | 1,100,000,000 | |
Aggregate accumulated benefit obligation and fair value of plan assets for plans with an accumulated benefit obligation in excess of plan assets [Abstract] | |||
Accumulated benefit obligation | 1,246,000,000 | 1,187,000,000 | |
Fair value of plan assets [Abstract] | |||
Fair value of plan assets | 1,029,000,000 | 875,000,000 | 663,000,000 |
Net periodic benefit costs, before tax [Abstract] | |||
Service cost | 62,000,000 | 62,000,000 | 46,000,000 |
Interest cost | 74,000,000 | 67,000,000 | 64,000,000 |
Expected return on plan assets | (75,000,000) | (71,000,000) | (74,000,000) |
Settlements and curtailments | 8,000,000 | 6,000,000 | (1,000,000) |
Special termination benefits | 3,000,000 | 0 | 3,000,000 |
Actuarial losses, net | 17,000,000 | 20,000,000 | 4,000,000 |
Prior service cost, net | (1,000,000) | 0 | 1,000,000 |
Transition obligation, net | 1,000,000 | 0 | 1,000,000 |
Net periodic benefit costs | 89,000,000 | 84,000,000 | 44,000,000 |
Unrecognized accumulated other comprehensive income, before tax [Abstract] | |||
Actuarial loss, net | 378,000,000 | 399,000,000 | |
Prior service credit, net | (8,000,000) | (22,000,000) | |
Transition obligation, net | 1,000,000 | 2,000,000 | |
Total | 371,000,000 | 379,000,000 | |
Accumulated other comprehensive income expected to be recognized during the next fiscal year [Abstract] | |||
Actuarial loss, net | 24,000,000 | ||
Prior service credit, net | (2,000,000) | ||
Transition obligation, net | 0 | ||
Total amount expected to be recognized | 22,000,000 | ||
Funding contributions [Abstract] | |||
Defined benefit plan contributions | 115,000,000 | 73,000,000 | 78,000,000 |
Expected defined plan contributions in 2011 | 93,000,000 | ||
Projected pension benefits payments [Abstract] | |||
2011 | 48,000,000 | ||
2012 | 51,000,000 | ||
2013 | 54,000,000 | ||
2014 | 57,000,000 | ||
2015 | 60,000,000 | ||
2016-2020 | 364,000,000 | ||
Defined contribution plans [Abstract] | |||
Total number of defined contribution plans sponsored | 3 | ||
Number of qualified defined contribution savings plans covering certain employees working in the U.S. | 1 | ||
Number of defined contribution savings plans covering certain employees working outside the U.S. and U.K. | 1 | ||
Number of defined contribution pension plans that covers certain employees working outside the U.S. | 1 | ||
Maximum matching contribution percentage of each covered employee's base salary for the U.S. Savings Plan and the Non U.S. Savings Plan (in hundredths) | 6.00% | ||
Minimum contribution percentage of each covered employee's base salary for the Non-U.S. Pension Plan (in hundredths) | 4.50% | ||
Maximum contribution percentage of each covered employee's base salary for the Non-U.S. Pension Plan (in hundredths) | 6.50% | ||
Expense related to defined contribution plans | 69,000,000 | 67,000,000 | 51,000,000 |
Severance plan [Abstract] | |||
Number of employees involuntarily terminated | 377 | ||
Severance expense | 5,000,000 | 17,000,000 | 5,000,000 |
Liability associated with severance plan | 1,000,000 | 17,000,000 | |
Cumulative termination benefits paid under the severance plan | 74,000,000 | ||
Termination benefits paid under the severance plan | 21,000,000 | 18,000,000 | 33,000,000 |
Fair Value, Inputs, Level 1 [Member]
|
|||
Change in plan assets [Rollforward] | |||
Fair value of plan assets, end of period | 726,000,000 | 594,000,000 | |
Fair value of plan assets [Abstract] | |||
Fair value of plan assets | 726,000,000 | 594,000,000 | |
Fair Value, Inputs, Level 2 [Member]
|
|||
Change in plan assets [Rollforward] | |||
Fair value of plan assets, end of period | 303,000,000 | 281,000,000 | |
Fair value of plan assets [Abstract] | |||
Fair value of plan assets | 303,000,000 | 281,000,000 | |
U.S. Equity Securities [Member]
|
|||
Change in plan assets [Rollforward] | |||
Fair value of plan assets, end of period | 387,000,000 | 366,000,000 | |
Fair value of plan assets [Abstract] | |||
Fair value of plan assets | 387,000,000 | 366,000,000 | |
U.S. Equity Securities [Member] | Fair Value, Inputs, Level 1 [Member]
|
|||
Change in plan assets [Rollforward] | |||
Fair value of plan assets, end of period | 359,000,000 | 341,000,000 | |
Fair value of plan assets [Abstract] | |||
Fair value of plan assets | 359,000,000 | 341,000,000 | |
U.S. Equity Securities [Member] | Fair Value, Inputs, Level 2 [Member]
|
|||
Change in plan assets [Rollforward] | |||
Fair value of plan assets, end of period | 28,000,000 | 25,000,000 | |
Fair value of plan assets [Abstract] | |||
Fair value of plan assets | 28,000,000 | 25,000,000 | |
Non-U.S. Equity Securities [Member]
|
|||
Change in plan assets [Rollforward] | |||
Fair value of plan assets, end of period | 241,000,000 | 226,000,000 | |
Fair value of plan assets [Abstract] | |||
Fair value of plan assets | 241,000,000 | 226,000,000 | |
Non-U.S. Equity Securities [Member] | Fair Value, Inputs, Level 1 [Member]
|
|||
Change in plan assets [Rollforward] | |||
Fair value of plan assets, end of period | 91,000,000 | 88,000,000 | |
Fair value of plan assets [Abstract] | |||
Fair value of plan assets | 91,000,000 | 88,000,000 | |
Non-U.S. Equity Securities [Member] | Fair Value, Inputs, Level 2 [Member]
|
|||
Change in plan assets [Rollforward] | |||
Fair value of plan assets, end of period | 150,000,000 | 138,000,000 | |
Fair value of plan assets [Abstract] | |||
Fair value of plan assets | 150,000,000 | 138,000,000 | |
Total Equity Securities [Member]
|
|||
Change in plan assets [Rollforward] | |||
Fair value of plan assets, end of period | 628,000,000 | 592,000,000 | |
Fair value of plan assets [Abstract] | |||
Fair value of plan assets | 628,000,000 | 592,000,000 | |
Total Equity Securities [Member] | Fair Value, Inputs, Level 1 [Member]
|
|||
Change in plan assets [Rollforward] | |||
Fair value of plan assets, end of period | 450,000,000 | 429,000,000 | |
Fair value of plan assets [Abstract] | |||
Fair value of plan assets | 450,000,000 | 429,000,000 | |
Total Equity Securities [Member] | Fair Value, Inputs, Level 2 [Member]
|
|||
Change in plan assets [Rollforward] | |||
Fair value of plan assets, end of period | 178,000,000 | 163,000,000 | |
Fair value of plan assets [Abstract] | |||
Fair value of plan assets | 178,000,000 | 163,000,000 | |
U.S. Government Fixed Income Securities [Member]
|
|||
Change in plan assets [Rollforward] | |||
Fair value of plan assets, end of period | 59,000,000 | 109,000,000 | |
Fair value of plan assets [Abstract] | |||
Fair value of plan assets | 59,000,000 | 109,000,000 | |
U.S. Government Fixed Income Securities [Member] | Fair Value, Inputs, Level 1 [Member]
|
|||
Change in plan assets [Rollforward] | |||
Fair value of plan assets, end of period | 59,000,000 | 109,000,000 | |
Fair value of plan assets [Abstract] | |||
Fair value of plan assets | 59,000,000 | 109,000,000 | |
U.S. Government Fixed Income Securities [Member] | Fair Value, Inputs, Level 2 [Member]
|
|||
Change in plan assets [Rollforward] | |||
Fair value of plan assets, end of period | 0 | 0 | |
Fair value of plan assets [Abstract] | |||
Fair value of plan assets | 0 | 0 | |
Non-U.S. Government Fixed Income Securities [Member]
|
|||
Change in plan assets [Rollforward] | |||
Fair value of plan assets, end of period | 34,000,000 | 30,000,000 | |
Fair value of plan assets [Abstract] | |||
Fair value of plan assets | 34,000,000 | 30,000,000 | |
Non-U.S. Government Fixed Income Securities [Member] | Fair Value, Inputs, Level 1 [Member]
|
|||
Change in plan assets [Rollforward] | |||
Fair value of plan assets, end of period | 0 | 0 | |
Fair value of plan assets [Abstract] | |||
Fair value of plan assets | 0 | 0 | |
Non-U.S. Government Fixed Income Securities [Member] | Fair Value, Inputs, Level 2 [Member]
|
|||
Change in plan assets [Rollforward] | |||
Fair value of plan assets, end of period | 34,000,000 | 30,000,000 | |
Fair value of plan assets [Abstract] | |||
Fair value of plan assets | 34,000,000 | 30,000,000 | |
U.S. Corporate Fixed Income Securities [Member]
|
|||
Change in plan assets [Rollforward] | |||
Fair value of plan assets, end of period | 175,000,000 | 38,000,000 | |
Fair value of plan assets [Abstract] | |||
Fair value of plan assets | 175,000,000 | 38,000,000 | |
U.S. Corporate Fixed Income Securities [Member] | Fair Value, Inputs, Level 1 [Member]
|
|||
Change in plan assets [Rollforward] | |||
Fair value of plan assets, end of period | 175,000,000 | 38,000,000 | |
Fair value of plan assets [Abstract] | |||
Fair value of plan assets | 175,000,000 | 38,000,000 | |
U.S. Corporate Fixed Income Securities [Member] | Fair Value, Inputs, Level 2 [Member]
|
|||
Change in plan assets [Rollforward] | |||
Fair value of plan assets, end of period | 0 | 0 | |
Fair value of plan assets [Abstract] | |||
Fair value of plan assets | 0 | 0 | |
Non-U.S. Fixed Income Securities [Member]
|
|||
Change in plan assets [Rollforward] | |||
Fair value of plan assets, end of period | 7,000,000 | 12,000,000 | |
Fair value of plan assets [Abstract] | |||
Fair value of plan assets | 7,000,000 | 12,000,000 | |
Non-U.S. Fixed Income Securities [Member] | Fair Value, Inputs, Level 1 [Member]
|
|||
Change in plan assets [Rollforward] | |||
Fair value of plan assets, end of period | 7,000,000 | 12,000,000 | |
Fair value of plan assets [Abstract] | |||
Fair value of plan assets | 7,000,000 | 12,000,000 | |
Non-U.S. Fixed Income Securities [Member] | Fair Value, Inputs, Level 2 [Member]
|
|||
Change in plan assets [Rollforward] | |||
Fair value of plan assets, end of period | 0 | 0 | |
Fair value of plan assets [Abstract] | |||
Fair value of plan assets | 0 | 0 | |
Total Fixed Income Securities [Member]
|
|||
Change in plan assets [Rollforward] | |||
Fair value of plan assets, end of period | 275,000,000 | 189,000,000 | |
Fair value of plan assets [Abstract] | |||
Fair value of plan assets | 275,000,000 | 189,000,000 | |
Total Fixed Income Securities [Member] | Fair Value, Inputs, Level 1 [Member]
|
|||
Change in plan assets [Rollforward] | |||
Fair value of plan assets, end of period | 241,000,000 | 159,000,000 | |
Fair value of plan assets [Abstract] | |||
Fair value of plan assets | 241,000,000 | 159,000,000 | |
Total Fixed Income Securities [Member] | Fair Value, Inputs, Level 2 [Member]
|
|||
Change in plan assets [Rollforward] | |||
Fair value of plan assets, end of period | 34,000,000 | 30,000,000 | |
Fair value of plan assets [Abstract] | |||
Fair value of plan assets | 34,000,000 | 30,000,000 | |
Cash [Member]
|
|||
Change in plan assets [Rollforward] | |||
Fair value of plan assets, end of period | 35,000,000 | 6,000,000 | |
Fair value of plan assets [Abstract] | |||
Fair value of plan assets | 35,000,000 | 6,000,000 | |
Cash [Member] | Fair Value, Inputs, Level 1 [Member]
|
|||
Change in plan assets [Rollforward] | |||
Fair value of plan assets, end of period | 35,000,000 | 6,000,000 | |
Fair value of plan assets [Abstract] | |||
Fair value of plan assets | 35,000,000 | 6,000,000 | |
Cash [Member] | Fair Value, Inputs, Level 2 [Member]
|
|||
Change in plan assets [Rollforward] | |||
Fair value of plan assets, end of period | 0 | 0 | |
Fair value of plan assets [Abstract] | |||
Fair value of plan assets | 0 | 0 | |
Property [Member]
|
|||
Change in plan assets [Rollforward] | |||
Fair value of plan assets, end of period | 7,000,000 | 11,000,000 | |
Fair value of plan assets [Abstract] | |||
Fair value of plan assets | 7,000,000 | 11,000,000 | |
Property [Member] | Fair Value, Inputs, Level 1 [Member]
|
|||
Change in plan assets [Rollforward] | |||
Fair value of plan assets, end of period | 0 | 0 | |
Fair value of plan assets [Abstract] | |||
Fair value of plan assets | 0 | 0 | |
Property [Member] | Fair Value, Inputs, Level 2 [Member]
|
|||
Change in plan assets [Rollforward] | |||
Fair value of plan assets, end of period | 7,000,000 | 11,000,000 | |
Fair value of plan assets [Abstract] | |||
Fair value of plan assets | 7,000,000 | 11,000,000 | |
Investment Contracts [Member]
|
|||
Change in plan assets [Rollforward] | |||
Fair value of plan assets, end of period | 84,000,000 | 77,000,000 | |
Fair value of plan assets [Abstract] | |||
Fair value of plan assets | 84,000,000 | 77,000,000 | |
Investment Contracts [Member] | Fair Value, Inputs, Level 1 [Member]
|
|||
Change in plan assets [Rollforward] | |||
Fair value of plan assets, end of period | 0 | 0 | |
Fair value of plan assets [Abstract] | |||
Fair value of plan assets | 0 | 0 | |
Investment Contracts [Member] | Fair Value, Inputs, Level 2 [Member]
|
|||
Change in plan assets [Rollforward] | |||
Fair value of plan assets, end of period | 84,000,000 | 77,000,000 | |
Fair value of plan assets [Abstract] | |||
Fair value of plan assets | 84,000,000 | 77,000,000 | |
Total Other Investments [Member]
|
|||
Change in plan assets [Rollforward] | |||
Fair value of plan assets, end of period | 126,000,000 | 94,000,000 | |
Fair value of plan assets [Abstract] | |||
Fair value of plan assets | 126,000,000 | 94,000,000 | |
Total Other Investments [Member] | Fair Value, Inputs, Level 1 [Member]
|
|||
Change in plan assets [Rollforward] | |||
Fair value of plan assets, end of period | 35,000,000 | 6,000,000 | |
Fair value of plan assets [Abstract] | |||
Fair value of plan assets | 35,000,000 | 6,000,000 | |
Total Other Investments [Member] | Fair Value, Inputs, Level 2 [Member]
|
|||
Change in plan assets [Rollforward] | |||
Fair value of plan assets, end of period | 91,000,000 | 88,000,000 | |
Fair value of plan assets [Abstract] | |||
Fair value of plan assets | 91,000,000 | 88,000,000 | |
U. S. Plans [Member]
|
|||
Weighted average assumptions used to determine benefit obligations [Abstract] | |||
Discount rate (in hundredths) | 5.48% | 5.84% | |
Compensation trend rate (in hundredths) | 4.24% | 4.21% | |
Weighted average assumptions used to determine net periodic benefit costs [Abstract] | |||
Discount rate (in hundredths) | 5.86% | 5.41% | 6.14% |
Expected rate of return (in hundredths) | 8.49% | 8.50% | 8.50% |
Compensation trend rate (in hundredths) | 4.21% | 4.21% | 4.57% |
Change in projected benefit obligation [Roll Forward] | |||
Projected benefit obligation, beginning of period | 932,000,000 | 900,000,000 | |
Plan amendments | 0 | 0 | |
Actuarial (gains) losses, net | 89,000,000 | (31,000,000) | |
Service cost | 42,000,000 | 44,000,000 | |
Interest cost | 54,000,000 | 50,000,000 | |
Foreign currency exchange rate | 0 | 0 | |
Benefits paid | (51,000,000) | (32,000,000) | |
Participant contributions | 0 | 0 | |
Special termination benefits | 3,000,000 | 0 | |
Settlements and curtailments | (1,000,000) | 1,000,000 | |
Projected benefit obligation, end of period | 1,068,000,000 | 932,000,000 | 900,000,000 |
Change in plan assets [Rollforward] | |||
Fair value of plan assets, beginning of period | 594,000,000 | 455,000,000 | |
Actual return on plan assets | 85,000,000 | 121,000,000 | |
Foreign currency exchange rate changes | 0 | 0 | |
Employer contributions | 69,000,000 | 50,000,000 | |
Participant contributions | 0 | 0 | |
Benefits paid | (51,000,000) | (32,000,000) | |
Fair value of plan assets, end of period | 697,000,000 | 594,000,000 | 455,000,000 |
Funded status, end of period | (371,000,000) | (338,000,000) | |
Balance sheet classification, end of period [Abstract] | |||
Pension asset, non-current | 0 | 0 | |
Accrued pension liability, current | 3,000,000 | 5,000,000 | |
Accrued pension liability, non-current | 368,000,000 | 333,000,000 | |
Accumulated other comprehensive income (loss) | (308,000,000) | (264,000,000) | |
Aggregate projected benefit obligation and fair value of plan assets for plans with a projected benefit obligation in excess of plan assets [Abstract] | |||
Projected benefit obligation | 1,068,000,000 | 932,000,000 | |
Fair value of plan assets | 697,000,000 | 594,000,000 | |
Aggregate accumulated benefit obligation and fair value of plan assets for plans with an accumulated benefit obligation in excess of plan assets [Abstract] | |||
Accumulated benefit obligation | 921,000,000 | 789,000,000 | |
Fair value of plan assets | 697,000,000 | 594,000,000 | |
Actual and targeted weighted-average asset percentage allocations for funded Transocean Plans by asset category [Abstract] | |||
Total target allocation percentage (in hundredths) | 100.00% | ||
Actual allocation percentage (in hundredths) | 100.00% | 100.00% | |
Fair value of plan assets [Abstract] | |||
Fair value of plan assets | 697,000,000 | 594,000,000 | 455,000,000 |
Net periodic benefit costs, before tax [Abstract] | |||
Service cost | 42,000,000 | 44,000,000 | 30,000,000 |
Interest cost | 54,000,000 | 50,000,000 | 47,000,000 |
Expected return on plan assets | (58,000,000) | (55,000,000) | (53,000,000) |
Settlements and curtailments | 5,000,000 | 4,000,000 | (1,000,000) |
Special termination benefits | 3,000,000 | 0 | |
Actuarial losses, net | 13,000,000 | 18,000,000 | 4,000,000 |
Prior service cost, net | (1,000,000) | (1,000,000) | 0 |
Transition obligation, net | 0 | 0 | 0 |
Net periodic benefit costs | 58,000,000 | 60,000,000 | 30,000,000 |
Unrecognized accumulated other comprehensive income, before tax [Abstract] | |||
Actuarial loss, net | 319,000,000 | 277,000,000 | |
Prior service credit, net | (11,000,000) | (13,000,000) | |
Transition obligation, net | 0 | 0 | |
Total | 308,000,000 | 264,000,000 | |
Accumulated other comprehensive income expected to be recognized during the next fiscal year [Abstract] | |||
Actuarial loss, net | 22,000,000 | ||
Prior service credit, net | (1,000,000) | ||
Transition obligation, net | 0 | ||
Total amount expected to be recognized | 21,000,000 | ||
Funding contributions [Abstract] | |||
Expected defined plan contributions in 2011 | 56,000,000 | ||
Projected pension benefits payments [Abstract] | |||
2011 | 37,000,000 | ||
2012 | 40,000,000 | ||
2013 | 42,000,000 | ||
2014 | 45,000,000 | ||
2015 | 47,000,000 | ||
2016-2020 | 285,000,000 | ||
U. S. Plans [Member] | Fair Value, Inputs, Level 1 [Member]
|
|||
Change in plan assets [Rollforward] | |||
Fair value of plan assets, end of period | 695,000,000 | 592,000,000 | |
Fair value of plan assets [Abstract] | |||
Fair value of plan assets | 695,000,000 | 592,000,000 | |
U. S. Plans [Member] | Fair Value, Inputs, Level 2 [Member]
|
|||
Change in plan assets [Rollforward] | |||
Fair value of plan assets, end of period | 2,000,000 | 2,000,000 | |
Fair value of plan assets [Abstract] | |||
Fair value of plan assets | 2,000,000 | 2,000,000 | |
U. S. Plans [Member] | U.S. Equity Securities [Member]
|
|||
Change in plan assets [Rollforward] | |||
Fair value of plan assets, end of period | 359,000,000 | 341,000,000 | |
Fair value of plan assets [Abstract] | |||
Fair value of plan assets | 359,000,000 | 341,000,000 | |
U. S. Plans [Member] | U.S. Equity Securities [Member] | Fair Value, Inputs, Level 1 [Member]
|
|||
Change in plan assets [Rollforward] | |||
Fair value of plan assets, end of period | 359,000,000 | 341,000,000 | |
Fair value of plan assets [Abstract] | |||
Fair value of plan assets | 359,000,000 | 341,000,000 | |
U. S. Plans [Member] | U.S. Equity Securities [Member] | Fair Value, Inputs, Level 2 [Member]
|
|||
Change in plan assets [Rollforward] | |||
Fair value of plan assets, end of period | 0 | 0 | |
Fair value of plan assets [Abstract] | |||
Fair value of plan assets | 0 | 0 | |
U. S. Plans [Member] | Non-U.S. Equity Securities [Member]
|
|||
Change in plan assets [Rollforward] | |||
Fair value of plan assets, end of period | 93,000,000 | 90,000,000 | |
Fair value of plan assets [Abstract] | |||
Fair value of plan assets | 93,000,000 | 90,000,000 | |
U. S. Plans [Member] | Non-U.S. Equity Securities [Member] | Fair Value, Inputs, Level 1 [Member]
|
|||
Change in plan assets [Rollforward] | |||
Fair value of plan assets, end of period | 91,000,000 | 88,000,000 | |
Fair value of plan assets [Abstract] | |||
Fair value of plan assets | 91,000,000 | 88,000,000 | |
U. S. Plans [Member] | Non-U.S. Equity Securities [Member] | Fair Value, Inputs, Level 2 [Member]
|
|||
Change in plan assets [Rollforward] | |||
Fair value of plan assets, end of period | 2,000,000 | 2,000,000 | |
Fair value of plan assets [Abstract] | |||
Fair value of plan assets | 2,000,000 | 2,000,000 | |
U. S. Plans [Member] | Total Equity Securities [Member]
|
|||
Change in plan assets [Rollforward] | |||
Fair value of plan assets, beginning of period | 431,000,000 | ||
Fair value of plan assets, end of period | 452,000,000 | ||
Actual and targeted weighted-average asset percentage allocations for funded Transocean Plans by asset category [Abstract] | |||
Target allocation percentage, equity securities (in hundredths) | 65.00% | ||
Actual allocation percentage (in hundredths) | 65.00% | 72.00% | |
Fair value of plan assets [Abstract] | |||
Fair value of plan assets | 452,000,000 | ||
U. S. Plans [Member] | Total Equity Securities [Member] | Fair Value, Inputs, Level 1 [Member]
|
|||
Change in plan assets [Rollforward] | |||
Fair value of plan assets, end of period | 450,000,000 | 429,000,000 | |
Fair value of plan assets [Abstract] | |||
Fair value of plan assets | 450,000,000 | 429,000,000 | |
U. S. Plans [Member] | Total Equity Securities [Member] | Fair Value, Inputs, Level 2 [Member]
|
|||
Change in plan assets [Rollforward] | |||
Fair value of plan assets, end of period | 2,000,000 | 2,000,000 | |
Fair value of plan assets [Abstract] | |||
Fair value of plan assets | 2,000,000 | 2,000,000 | |
U. S. Plans [Member] | U.S. Government Fixed Income Securities [Member]
|
|||
Change in plan assets [Rollforward] | |||
Fair value of plan assets, end of period | 59,000,000 | 109,000,000 | |
Fair value of plan assets [Abstract] | |||
Fair value of plan assets | 59,000,000 | 109,000,000 | |
U. S. Plans [Member] | U.S. Government Fixed Income Securities [Member] | Fair Value, Inputs, Level 1 [Member]
|
|||
Change in plan assets [Rollforward] | |||
Fair value of plan assets, end of period | 59,000,000 | 109,000,000 | |
Fair value of plan assets [Abstract] | |||
Fair value of plan assets | 59,000,000 | 109,000,000 | |
U. S. Plans [Member] | U.S. Government Fixed Income Securities [Member] | Fair Value, Inputs, Level 2 [Member]
|
|||
Change in plan assets [Rollforward] | |||
Fair value of plan assets, end of period | 0 | 0 | |
Fair value of plan assets [Abstract] | |||
Fair value of plan assets | 0 | 0 | |
U. S. Plans [Member] | Non-U.S. Government Fixed Income Securities [Member]
|
|||
Change in plan assets [Rollforward] | |||
Fair value of plan assets, end of period | 0 | 0 | |
Fair value of plan assets [Abstract] | |||
Fair value of plan assets | 0 | 0 | |
U. S. Plans [Member] | Non-U.S. Government Fixed Income Securities [Member] | Fair Value, Inputs, Level 1 [Member]
|
|||
Change in plan assets [Rollforward] | |||
Fair value of plan assets, end of period | 0 | 0 | |
Fair value of plan assets [Abstract] | |||
Fair value of plan assets | 0 | 0 | |
U. S. Plans [Member] | Non-U.S. Government Fixed Income Securities [Member] | Fair Value, Inputs, Level 2 [Member]
|
|||
Change in plan assets [Rollforward] | |||
Fair value of plan assets, end of period | 0 | 0 | |
Fair value of plan assets [Abstract] | |||
Fair value of plan assets | 0 | 0 | |
U. S. Plans [Member] | U.S. Corporate Fixed Income Securities [Member]
|
|||
Change in plan assets [Rollforward] | |||
Fair value of plan assets, end of period | 175,000,000 | 38,000,000 | |
Fair value of plan assets [Abstract] | |||
Fair value of plan assets | 175,000,000 | 38,000,000 | |
U. S. Plans [Member] | U.S. Corporate Fixed Income Securities [Member] | Fair Value, Inputs, Level 1 [Member]
|
|||
Change in plan assets [Rollforward] | |||
Fair value of plan assets, end of period | 175,000,000 | 38,000,000 | |
Fair value of plan assets [Abstract] | |||
Fair value of plan assets | 175,000,000 | 38,000,000 | |
U. S. Plans [Member] | U.S. Corporate Fixed Income Securities [Member] | Fair Value, Inputs, Level 2 [Member]
|
|||
Change in plan assets [Rollforward] | |||
Fair value of plan assets, end of period | 0 | 0 | |
Fair value of plan assets [Abstract] | |||
Fair value of plan assets | 0 | 0 | |
U. S. Plans [Member] | Non-U.S. Fixed Income Securities [Member]
|
|||
Change in plan assets [Rollforward] | |||
Fair value of plan assets, end of period | 7,000,000 | 12,000,000 | |
Fair value of plan assets [Abstract] | |||
Fair value of plan assets | 7,000,000 | 12,000,000 | |
U. S. Plans [Member] | Non-U.S. Fixed Income Securities [Member] | Fair Value, Inputs, Level 1 [Member]
|
|||
Change in plan assets [Rollforward] | |||
Fair value of plan assets, end of period | 7,000,000 | 12,000,000 | |
Fair value of plan assets [Abstract] | |||
Fair value of plan assets | 7,000,000 | 12,000,000 | |
U. S. Plans [Member] | Non-U.S. Fixed Income Securities [Member] | Fair Value, Inputs, Level 2 [Member]
|
|||
Change in plan assets [Rollforward] | |||
Fair value of plan assets, end of period | 0 | 0 | |
Fair value of plan assets [Abstract] | |||
Fair value of plan assets | 0 | 0 | |
U. S. Plans [Member] | Total Fixed Income Securities [Member]
|
|||
Change in plan assets [Rollforward] | |||
Fair value of plan assets, beginning of period | 159,000,000 | ||
Fair value of plan assets, end of period | 241,000,000 | ||
Actual and targeted weighted-average asset percentage allocations for funded Transocean Plans by asset category [Abstract] | |||
Target allocation percentage, fixed income securities (in hundredths) | 35.00% | ||
Actual allocation percentage (in hundredths) | 34.00% | 27.00% | |
Fair value of plan assets [Abstract] | |||
Fair value of plan assets | 241,000,000 | ||
U. S. Plans [Member] | Total Fixed Income Securities [Member] | Fair Value, Inputs, Level 1 [Member]
|
|||
Change in plan assets [Rollforward] | |||
Fair value of plan assets, end of period | 241,000,000 | 159,000,000 | |
Fair value of plan assets [Abstract] | |||
Fair value of plan assets | 241,000,000 | 159,000,000 | |
U. S. Plans [Member] | Total Fixed Income Securities [Member] | Fair Value, Inputs, Level 2 [Member]
|
|||
Change in plan assets [Rollforward] | |||
Fair value of plan assets, end of period | 0 | ||
Fair value of plan assets [Abstract] | |||
Fair value of plan assets | 0 | ||
U. S. Plans [Member] | Cash [Member]
|
|||
Change in plan assets [Rollforward] | |||
Fair value of plan assets, end of period | 4,000,000 | 4,000,000 | |
Fair value of plan assets [Abstract] | |||
Fair value of plan assets | 4,000,000 | 4,000,000 | |
U. S. Plans [Member] | Cash [Member] | Fair Value, Inputs, Level 1 [Member]
|
|||
Change in plan assets [Rollforward] | |||
Fair value of plan assets, end of period | 4,000,000 | 4,000,000 | |
Fair value of plan assets [Abstract] | |||
Fair value of plan assets | 4,000,000 | 4,000,000 | |
U. S. Plans [Member] | Cash [Member] | Fair Value, Inputs, Level 2 [Member]
|
|||
Change in plan assets [Rollforward] | |||
Fair value of plan assets, end of period | 0 | 0 | |
Fair value of plan assets [Abstract] | |||
Fair value of plan assets | 0 | 0 | |
U. S. Plans [Member] | Property [Member]
|
|||
Change in plan assets [Rollforward] | |||
Fair value of plan assets, end of period | 0 | 0 | |
Fair value of plan assets [Abstract] | |||
Fair value of plan assets | 0 | 0 | |
U. S. Plans [Member] | Property [Member] | Fair Value, Inputs, Level 1 [Member]
|
|||
Change in plan assets [Rollforward] | |||
Fair value of plan assets, end of period | 0 | 0 | |
Fair value of plan assets [Abstract] | |||
Fair value of plan assets | 0 | 0 | |
U. S. Plans [Member] | Property [Member] | Fair Value, Inputs, Level 2 [Member]
|
|||
Change in plan assets [Rollforward] | |||
Fair value of plan assets, end of period | 0 | 0 | |
Fair value of plan assets [Abstract] | |||
Fair value of plan assets | 0 | 0 | |
U. S. Plans [Member] | Investment Contracts [Member]
|
|||
Change in plan assets [Rollforward] | |||
Fair value of plan assets, end of period | 0 | 0 | |
Fair value of plan assets [Abstract] | |||
Fair value of plan assets | 0 | 0 | |
U. S. Plans [Member] | Investment Contracts [Member] | Fair Value, Inputs, Level 1 [Member]
|
|||
Change in plan assets [Rollforward] | |||
Fair value of plan assets, end of period | 0 | 0 | |
Fair value of plan assets [Abstract] | |||
Fair value of plan assets | 0 | 0 | |
U. S. Plans [Member] | Total Other Investments [Member]
|
|||
Change in plan assets [Rollforward] | |||
Fair value of plan assets, beginning of period | 4,000,000 | ||
Fair value of plan assets, end of period | 4,000,000 | ||
Actual and targeted weighted-average asset percentage allocations for funded Transocean Plans by asset category [Abstract] | |||
Target allocation percentage, other investments (in hundredths) | 0.00% | ||
Actual allocation percentage (in hundredths) | 1.00% | 1.00% | |
Fair value of plan assets [Abstract] | |||
Fair value of plan assets | 4,000,000 | ||
U. S. Plans [Member] | Total Other Investments [Member] | Fair Value, Inputs, Level 1 [Member]
|
|||
Change in plan assets [Rollforward] | |||
Fair value of plan assets, end of period | 4,000,000 | 4,000,000 | |
Fair value of plan assets [Abstract] | |||
Fair value of plan assets | 4,000,000 | 4,000,000 | |
U. S. Plans [Member] | Total Other Investments [Member] | Fair Value, Inputs, Level 2 [Member]
|
|||
Change in plan assets [Rollforward] | |||
Fair value of plan assets, end of period | 0 | 0 | |
Fair value of plan assets [Abstract] | |||
Fair value of plan assets | 0 | 0 | |
Non U. S. Plans [Member]
|
|||
Weighted average assumptions used to determine benefit obligations [Abstract] | |||
Discount rate (in hundredths) | 5.81% | 5.59% | |
Compensation trend rate (in hundredths) | 4.65% | 4.73% | |
Weighted average assumptions used to determine net periodic benefit costs [Abstract] | |||
Discount rate (in hundredths) | 5.67% | 6.06% | 5.97% |
Expected rate of return (in hundredths) | 6.65% | 6.59% | 7.16% |
Compensation trend rate (in hundredths) | 4.77% | 4.55% | 4.64% |
Change in projected benefit obligation [Roll Forward] | |||
Projected benefit obligation, beginning of period | 403,000,000 | 250,000,000 | |
Plan amendments | 0 | 0 | |
Actuarial (gains) losses, net | (46,000,000) | 86,000,000 | |
Service cost | 20,000,000 | 18,000,000 | |
Interest cost | 20,000,000 | 17,000,000 | |
Foreign currency exchange rate | (13,000,000) | 40,000,000 | |
Benefits paid | (14,000,000) | (11,000,000) | |
Participant contributions | 2,000,000 | 2,000,000 | |
Special termination benefits | 0 | 0 | 0 |
Settlements and curtailments | 2,000,000 | 1,000,000 | |
Projected benefit obligation, end of period | 374,000,000 | 403,000,000 | 250,000,000 |
Change in plan assets [Rollforward] | |||
Fair value of plan assets, beginning of period | 281,000,000 | 208,000,000 | |
Actual return on plan assets | 29,000,000 | 31,000,000 | |
Foreign currency exchange rate changes | (11,000,000) | 31,000,000 | |
Employer contributions | 45,000,000 | 20,000,000 | |
Participant contributions | 2,000,000 | 2,000,000 | |
Benefits paid | (14,000,000) | (11,000,000) | |
Fair value of plan assets, end of period | 332,000,000 | 281,000,000 | 208,000,000 |
Funded status, end of period | (42,000,000) | (122,000,000) | |
Balance sheet classification, end of period [Abstract] | |||
Pension asset, non-current | (8,000,000) | 0 | |
Accrued pension liability, current | 2,000,000 | 2,000,000 | |
Accrued pension liability, non-current | 48,000,000 | 120,000,000 | |
Accumulated other comprehensive income (loss) | (61,000,000) | (117,000,000) | |
Aggregate projected benefit obligation and fair value of plan assets for plans with a projected benefit obligation in excess of plan assets [Abstract] | |||
Projected benefit obligation | 290,000,000 | 403,000,000 | |
Fair value of plan assets | 248,000,000 | 281,000,000 | |
Aggregate accumulated benefit obligation and fair value of plan assets for plans with an accumulated benefit obligation in excess of plan assets [Abstract] | |||
Accumulated benefit obligation | 269,000,000 | 344,000,000 | |
Fair value of plan assets | 428,000,000 | 281,000,000 | |
Actual and targeted weighted-average asset percentage allocations for funded Transocean Plans by asset category [Abstract] | |||
Total target allocation percentage (in hundredths) | 100.00% | ||
Actual allocation percentage (in hundredths) | 100.00% | 100.00% | |
Fair value of plan assets [Abstract] | |||
Fair value of plan assets | 332,000,000 | 281,000,000 | 208,000,000 |
Net periodic benefit costs, before tax [Abstract] | |||
Service cost | 20,000,000 | 18,000,000 | 16,000,000 |
Interest cost | 20,000,000 | 17,000,000 | 17,000,000 |
Expected return on plan assets | (17,000,000) | (16,000,000) | (21,000,000) |
Settlements and curtailments | 3,000,000 | 2,000,000 | 0 |
Special termination benefits | 0 | 0 | 0 |
Actuarial losses, net | 4,000,000 | 2,000,000 | 0 |
Prior service cost, net | 0 | 1,000,000 | 1,000,000 |
Transition obligation, net | 1,000,000 | 0 | 1,000,000 |
Net periodic benefit costs | 31,000,000 | 24,000,000 | 14,000,000 |
Unrecognized accumulated other comprehensive income, before tax [Abstract] | |||
Actuarial loss, net | 52,000,000 | 117,000,000 | |
Prior service credit, net | 8,000,000 | (2,000,000) | |
Transition obligation, net | 1,000,000 | 2,000,000 | |
Total | 61,000,000 | 117,000,000 | |
Accumulated other comprehensive income expected to be recognized during the next fiscal year [Abstract] | |||
Actuarial loss, net | 2,000,000 | ||
Prior service credit, net | 1,000,000 | ||
Transition obligation, net | 0 | ||
Total amount expected to be recognized | 3,000,000 | ||
Projected pension benefits payments [Abstract] | |||
2011 | 7,000,000 | ||
2012 | 7,000,000 | ||
2013 | 8,000,000 | ||
2014 | 8,000,000 | ||
2015 | 9,000,000 | ||
2016-2020 | 57,000,000 | ||
Non U. S. Plans [Member] | Fair Value, Inputs, Level 1 [Member]
|
|||
Change in plan assets [Rollforward] | |||
Fair value of plan assets, end of period | 31,000,000 | 2,000,000 | |
Fair value of plan assets [Abstract] | |||
Fair value of plan assets | 31,000,000 | 2,000,000 | |
Non U. S. Plans [Member] | Fair Value, Inputs, Level 2 [Member]
|
|||
Change in plan assets [Rollforward] | |||
Fair value of plan assets, end of period | 301,000,000 | 279,000,000 | |
Fair value of plan assets [Abstract] | |||
Fair value of plan assets | 301,000,000 | 279,000,000 | |
Non U. S. Plans [Member] | U.S. Equity Securities [Member]
|
|||
Change in plan assets [Rollforward] | |||
Fair value of plan assets, end of period | 28,000,000 | 25,000,000 | |
Fair value of plan assets [Abstract] | |||
Fair value of plan assets | 28,000,000 | 25,000,000 | |
Non U. S. Plans [Member] | U.S. Equity Securities [Member] | Fair Value, Inputs, Level 1 [Member]
|
|||
Change in plan assets [Rollforward] | |||
Fair value of plan assets, end of period | 0 | 0 | |
Fair value of plan assets [Abstract] | |||
Fair value of plan assets | 0 | 0 | |
Non U. S. Plans [Member] | U.S. Equity Securities [Member] | Fair Value, Inputs, Level 2 [Member]
|
|||
Change in plan assets [Rollforward] | |||
Fair value of plan assets, end of period | 28,000,000 | 25,000,000 | |
Fair value of plan assets [Abstract] | |||
Fair value of plan assets | 28,000,000 | 25,000,000 | |
Non U. S. Plans [Member] | Non-U.S. Equity Securities [Member]
|
|||
Change in plan assets [Rollforward] | |||
Fair value of plan assets, end of period | 148,000,000 | 136,000,000 | |
Fair value of plan assets [Abstract] | |||
Fair value of plan assets | 148,000,000 | 136,000,000 | |
Non U. S. Plans [Member] | Non-U.S. Equity Securities [Member] | Fair Value, Inputs, Level 1 [Member]
|
|||
Change in plan assets [Rollforward] | |||
Fair value of plan assets, end of period | 0 | 0 | |
Fair value of plan assets [Abstract] | |||
Fair value of plan assets | 0 | 0 | |
Non U. S. Plans [Member] | Non-U.S. Equity Securities [Member] | Fair Value, Inputs, Level 2 [Member]
|
|||
Change in plan assets [Rollforward] | |||
Fair value of plan assets, end of period | 148,000,000 | 136,000,000 | |
Fair value of plan assets [Abstract] | |||
Fair value of plan assets | 148,000,000 | 136,000,000 | |
Non U. S. Plans [Member] | Total Equity Securities [Member]
|
|||
Change in plan assets [Rollforward] | |||
Fair value of plan assets, beginning of period | 161,000,000 | ||
Fair value of plan assets, end of period | 176,000,000 | ||
Actual and targeted weighted-average asset percentage allocations for funded Transocean Plans by asset category [Abstract] | |||
Target allocation percentage, equity securities (in hundredths) | 52.00% | ||
Actual allocation percentage (in hundredths) | 53.00% | 57.00% | |
Fair value of plan assets [Abstract] | |||
Fair value of plan assets | 176,000,000 | ||
Non U. S. Plans [Member] | Total Equity Securities [Member] | Fair Value, Inputs, Level 1 [Member]
|
|||
Change in plan assets [Rollforward] | |||
Fair value of plan assets, end of period | 0 | 0 | |
Fair value of plan assets [Abstract] | |||
Fair value of plan assets | 0 | 0 | |
Non U. S. Plans [Member] | Total Equity Securities [Member] | Fair Value, Inputs, Level 2 [Member]
|
|||
Change in plan assets [Rollforward] | |||
Fair value of plan assets, end of period | 176,000,000 | 161,000,000 | |
Fair value of plan assets [Abstract] | |||
Fair value of plan assets | 176,000,000 | 161,000,000 | |
Non U. S. Plans [Member] | Non-U.S. Government Fixed Income Securities [Member]
|
|||
Change in plan assets [Rollforward] | |||
Fair value of plan assets, end of period | 34,000,000 | 30,000,000 | |
Fair value of plan assets [Abstract] | |||
Fair value of plan assets | 34,000,000 | 30,000,000 | |
Non U. S. Plans [Member] | Non-U.S. Government Fixed Income Securities [Member] | Fair Value, Inputs, Level 1 [Member]
|
|||
Change in plan assets [Rollforward] | |||
Fair value of plan assets, end of period | 0 | 0 | |
Fair value of plan assets [Abstract] | |||
Fair value of plan assets | 0 | 0 | |
Non U. S. Plans [Member] | Non-U.S. Government Fixed Income Securities [Member] | Fair Value, Inputs, Level 2 [Member]
|
|||
Change in plan assets [Rollforward] | |||
Fair value of plan assets, end of period | 34,000,000 | 30,000,000 | |
Fair value of plan assets [Abstract] | |||
Fair value of plan assets | 34,000,000 | 30,000,000 | |
Non U. S. Plans [Member] | Total Fixed Income Securities [Member]
|
|||
Change in plan assets [Rollforward] | |||
Fair value of plan assets, beginning of period | 30,000,000 | ||
Fair value of plan assets, end of period | 34,000,000 | ||
Actual and targeted weighted-average asset percentage allocations for funded Transocean Plans by asset category [Abstract] | |||
Target allocation percentage, fixed income securities (in hundredths) | 15.00% | ||
Actual allocation percentage (in hundredths) | 10.00% | 11.00% | |
Fair value of plan assets [Abstract] | |||
Fair value of plan assets | 34,000,000 | ||
Non U. S. Plans [Member] | Total Fixed Income Securities [Member] | Fair Value, Inputs, Level 1 [Member]
|
|||
Change in plan assets [Rollforward] | |||
Fair value of plan assets, end of period | 0 | 0 | |
Fair value of plan assets [Abstract] | |||
Fair value of plan assets | 0 | 0 | |
Non U. S. Plans [Member] | Total Fixed Income Securities [Member] | Fair Value, Inputs, Level 2 [Member]
|
|||
Change in plan assets [Rollforward] | |||
Fair value of plan assets, end of period | 34,000,000 | 30,000,000 | |
Fair value of plan assets [Abstract] | |||
Fair value of plan assets | 34,000,000 | 30,000,000 | |
Non U. S. Plans [Member] | Cash [Member]
|
|||
Change in plan assets [Rollforward] | |||
Fair value of plan assets, end of period | 31,000,000 | 2,000,000 | |
Fair value of plan assets [Abstract] | |||
Fair value of plan assets | 31,000,000 | 2,000,000 | |
Non U. S. Plans [Member] | Cash [Member] | Fair Value, Inputs, Level 1 [Member]
|
|||
Change in plan assets [Rollforward] | |||
Fair value of plan assets, end of period | 31,000,000 | 2,000,000 | |
Fair value of plan assets [Abstract] | |||
Fair value of plan assets | 31,000,000 | 2,000,000 | |
Non U. S. Plans [Member] | Cash [Member] | Fair Value, Inputs, Level 2 [Member]
|
|||
Change in plan assets [Rollforward] | |||
Fair value of plan assets, end of period | 0 | 0 | |
Fair value of plan assets [Abstract] | |||
Fair value of plan assets | 0 | 0 | |
Non U. S. Plans [Member] | Property [Member]
|
|||
Change in plan assets [Rollforward] | |||
Fair value of plan assets, end of period | 7,000,000 | 11,000,000 | |
Fair value of plan assets [Abstract] | |||
Fair value of plan assets | 7,000,000 | 11,000,000 | |
Non U. S. Plans [Member] | Property [Member] | Fair Value, Inputs, Level 1 [Member]
|
|||
Change in plan assets [Rollforward] | |||
Fair value of plan assets, end of period | 0 | 0 | |
Fair value of plan assets [Abstract] | |||
Fair value of plan assets | 0 | 0 | |
Non U. S. Plans [Member] | Property [Member] | Fair Value, Inputs, Level 2 [Member]
|
|||
Change in plan assets [Rollforward] | |||
Fair value of plan assets, end of period | 7,000,000 | 11,000,000 | |
Fair value of plan assets [Abstract] | |||
Fair value of plan assets | 7,000,000 | 11,000,000 | |
Non U. S. Plans [Member] | Investment Contracts [Member]
|
|||
Change in plan assets [Rollforward] | |||
Fair value of plan assets, end of period | 84,000,000 | 77,000,000 | |
Fair value of plan assets [Abstract] | |||
Fair value of plan assets | 84,000,000 | 77,000,000 | |
Non U. S. Plans [Member] | Investment Contracts [Member] | Fair Value, Inputs, Level 1 [Member]
|
|||
Change in plan assets [Rollforward] | |||
Fair value of plan assets, end of period | 84,000,000 | 0 | |
Fair value of plan assets [Abstract] | |||
Fair value of plan assets | 84,000,000 | 0 | |
Non U. S. Plans [Member] | Investment Contracts [Member] | Fair Value, Inputs, Level 2 [Member]
|
|||
Change in plan assets [Rollforward] | |||
Fair value of plan assets, end of period | 84,000,000 | 77,000,000 | |
Fair value of plan assets [Abstract] | |||
Fair value of plan assets | 84,000,000 | 77,000,000 | |
Non U. S. Plans [Member] | Total Other Investments [Member]
|
|||
Change in plan assets [Rollforward] | |||
Fair value of plan assets, beginning of period | 90,000,000 | ||
Fair value of plan assets, end of period | 122,000,000 | ||
Actual and targeted weighted-average asset percentage allocations for funded Transocean Plans by asset category [Abstract] | |||
Target allocation percentage, other investments (in hundredths) | 33.00% | ||
Actual allocation percentage (in hundredths) | 37.00% | 32.00% | |
Fair value of plan assets [Abstract] | |||
Fair value of plan assets | 122,000,000 | ||
Non U. S. Plans [Member] | Total Other Investments [Member] | Fair Value, Inputs, Level 1 [Member]
|
|||
Change in plan assets [Rollforward] | |||
Fair value of plan assets, end of period | 31,000,000 | 2,000,000 | |
Fair value of plan assets [Abstract] | |||
Fair value of plan assets | 31,000,000 | 2,000,000 | |
Non U. S. Plans [Member] | Total Other Investments [Member] | Fair Value, Inputs, Level 2 [Member]
|
|||
Change in plan assets [Rollforward] | |||
Fair value of plan assets, end of period | 91,000,000 | 88,000,000 | |
Fair value of plan assets [Abstract] | |||
Fair value of plan assets | 91,000,000 | 88,000,000 | |
OPEB Plans [Member]
|
|||
Weighted average assumptions used to determine benefit obligations [Abstract] | |||
Discount rate (in hundredths) | 4.92% | 5.52% | |
Weighted average assumptions used to determine net periodic benefit costs [Abstract] | |||
Discount rate (in hundredths) | 5.51% | 5.34% | 5.96% |
Health care cost trend rate, initial (in hundredths) | 8.00% | 8.99% | 8.55% |
Health care cost trend rate, ultimate (in hundredths) | 5.00% | 5.00% | 5.00% |
Year the ultimate health care cost trend rate is reached | 2016 | 2016 | 2014 |
Change in projected benefit obligation [Roll Forward] | |||
Projected benefit obligation, beginning of period | 54,000,000 | ||
Plan amendments | 0 | 5,000,000 | |
Actuarial (gains) losses, net | 2,000,000 | (16,000,000) | |
Service cost | 1,000,000 | 1,000,000 | |
Interest cost | 3,000,000 | 3,000,000 | |
Foreign currency exchange rate | 0 | 0 | |
Benefits paid | (5,000,000) | (4,000,000) | |
Participant contributions | 1,000,000 | 1,000,000 | |
Special termination benefits | 0 | 0 | |
Settlements and curtailments | 0 | 0 | |
Projected benefit obligation, end of period | 56,000,000 | 54,000,000 | |
Change in plan assets [Rollforward] | |||
Fair value of plan assets, beginning of period | 0 | ||
Actual return on plan assets | 0 | 0 | |
Foreign currency exchange rate changes | 0 | 0 | |
Employer contributions | 4,000,000 | 3,000,000 | |
Participant contributions | 1,000,000 | 1,000,000 | |
Benefits paid | (5,000,000) | (4,000,000) | |
Fair value of plan assets, end of period | 0 | 0 | |
Funded status, end of period | (56,000,000) | (54,000,000) | |
Balance sheet classification, end of period [Abstract] | |||
Pension asset, non-current | 0 | 0 | |
Accrued pension liability, current | 4,000,000 | 3,000,000 | |
Accrued pension liability, non-current | 52,000,000 | 51,000,000 | |
Accumulated other comprehensive income (loss) | (2,000,000) | 2,000,000 | |
Aggregate projected benefit obligation and fair value of plan assets for plans with a projected benefit obligation in excess of plan assets [Abstract] | |||
Projected benefit obligation | 56,000,000 | 54,000,000 | |
Fair value of plan assets | 0 | 0 | |
Aggregate accumulated benefit obligation and fair value of plan assets for plans with an accumulated benefit obligation in excess of plan assets [Abstract] | |||
Accumulated benefit obligation | 56,000,000 | 54,000,000 | |
Fair value of plan assets | 0 | 0 | |
Fair value of plan assets [Abstract] | |||
Fair value of plan assets | 0 | 0 | |
Net periodic benefit costs, before tax [Abstract] | |||
Special termination benefits | 0 | 0 | |
Net periodic benefit costs for OPEB plans | 2,000,000 | 3,000,000 | 3,000,000 |
Unrecognized accumulated other comprehensive income, before tax [Abstract] | |||
Actuarial loss, net | 7,000,000 | 5,000,000 | |
Prior service credit, net | (5,000,000) | (7,000,000) | |
Transition obligation, net | 0 | 0 | |
Total | 2,000,000 | (2,000,000) | |
Accumulated other comprehensive income expected to be recognized during the next fiscal year [Abstract] | |||
Actuarial loss, net | 0 | ||
Prior service credit, net | (2,000,000) | ||
Transition obligation, net | 0 | ||
Total amount expected to be recognized | (2,000,000) | ||
Funding contributions [Abstract] | |||
Expected defined plan contributions in 2011 | 4,000,000 | ||
Projected pension benefits payments [Abstract] | |||
2011 | 4,000,000 | ||
2012 | 4,000,000 | ||
2013 | 4,000,000 | ||
2014 | 4,000,000 | ||
2015 | 4,000,000 | ||
2016-2020 | $ 22,000,000 |
X | ||||||||||
- Details
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X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The amount of contributions made by the employer using cash flows from operations. No definition available.
|
X | ||||||||||
- Definition
The total amount of net periodic benefit cost for OPEB plans for the period. Periodic benefit costs include the following components: service cost, interest cost, expected return on plan assets, gain or loss, prior service cost or credit, transition asset or obligation, and gain or loss due to settlements or curtailments). No definition available.
|
X | ||||||||||
- Definition
The total amount of net periodic benefit cost for US and Non-Us plans for the period. Periodic benefit costs include the following components: service cost, interest cost, expected return on plan assets, gain or loss, prior service cost or credit, transition asset or obligation, and gain or loss due to settlements or curtailments). No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
The net increase or decrease of changes in the value of either the benefit obligation or the plan assets resulting from experience different from that assumed or from a change in an actuarial assumption, or the consequence of a decision to temporarily deviate from the substantive plan. No definition available.
|
X | ||||||||||
- Definition
The increase in a defined benefit pension plan's projected benefit obligation or a defined benefit postretirement plan's accumulated postretirement benefit obligation due to the passage of time. No definition available.
|
X | ||||||||||
- Definition
The actuarial present value of benefits attributed by the pension benefit formula to services rendered by employees during the period. The portion of the expected postretirement benefit obligation attributed to employee service during the period. The service cost component is a portion of the benefit obligation and is unaffected by the funded status of the plan. No definition available.
|
X | ||||||||||
- Definition
Total target allocation percentage of plan assets in equity securities, fixed income securities and other investments presented on a weighted-average basis as of the measurement date of the latest statement of financial position. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The minimum percentage of each covered employee's base salary that the company will contribute for the Non-U.S. Pension Plan. No definition available.
|
X | ||||||||||
- Definition
The maximum percentage of each covered employee's base salary that the company will contribute for the Non-U.S. Pension Plan. No definition available.
|
X | ||||||||||
- Definition
The maximum percentage of each covered employee's base salary that the company will match for the U.S. Savings Plan and the Non U.S. Savings Plan. No definition available.
|
X | ||||||||||
- Definition
The number of defined contribution pension plans that cover certain employees working outside the U.S. No definition available.
|
X | ||||||||||
- Definition
The total number of defined contribution plans No definition available.
|
X | ||||||||||
- Definition
The number of defined contribution savings plans covering certain employees working outside the U.S. and U.K. No definition available.
|
X | ||||||||||
- Definition
The number of employees involuntarily terminated to consolidate operations and administrative functions pursuant to a plan established following the Company's merger with GlobalSantaFe. No definition available.
|
X | ||||||||||
- Definition
The number of funded defined benefit plans that the Company assumed in connection with its mergers with GlobalSantaFe and R and B Falcon, all of which were frozen prior to the respective mergers and for which benefits no longer accrue but the pension obligations have not been fully distributed. No definition available.
|
X | ||||||||||
- Definition
The number of other unfunded supplemental benefit plans providing certain eligible employees with benefits in excess of those allowed under the U.S. Plan. No definition available.
|
X | ||||||||||
- Definition
The number of qualified defined contribution savings plans covering certain employees working in the U.S. No definition available.
|
X | ||||||||||
- Definition
The number of unfunded defined benefit plans that the Company assumed in connection with its mergers with GlobalSantaFe and R and B Falcon, all of which were frozen prior to the respective mergers and for which benefits no longer accrue but the pension obligations have not been fully distributed. No definition available.
|
X | ||||||||||
- Definition
The number of unfunded defined benefit plans covering eligible Norway employees and former employees No definition available.
|
X | ||||||||||
- Definition
The cumulative cash outflows for payments of postemployment benefits (such as severance pay and health insurance benefits) recognized as of the date of the latest statement of financial position. Postemployment benefits are benefits paid to employees after employment but before retirement. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
For defined benefit pension plans, the actuarial present value of benefits (whether vested or nonvested) attributed by the pension benefit formula to employee service rendered before a specified date and based on employee service and compensation (if applicable) before that date. The accumulated benefit obligation differs from the projected benefit obligation in that it includes no assumption about future compensation levels. For plans with flat-benefit or nonpay-related pension benefit formulas, the accumulated benefit obligation and the projected benefit obligation are the same. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The pretax total of net (gain) loss, prior service cost (credit), and transition assets (obligations), as well as minimum pension liability if still remaining, included in accumulated other comprehensive income associated with a defined benefit pension or other postretirement plan(s) because they have yet to be recognized as components of net periodic benefit cost. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The pretax net amount of gains and losses that are not yet recognized as a component of net periodic benefit cost, and that are recognized as increases or decreases in other comprehensive income as they arise. Gains and losses are due to changes in the value of either the benefit obligation or the plan assets resulting from experience different from that assumed or from a change in an actuarial assumption, or the consequence of a decision to temporarily deviate from the substantive plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount related to the pretax cost of benefit changes attributable to plan participants' prior service pursuant to a plan amendment or a plan initiation, which has not yet been recognized as components of net periodic benefit cost. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Of the original amount of transition assets as of the date FAS 87 or 106 was initially applied, (a) the fair value of plan assets plus any recognized accrued pension or other postretirement benefit cost or less any recognized prepaid pension or other postretirement benefit cost in excess of (b) the benefit obligation, the portion of which has yet to be recognized as components of net periodic benefit cost. Of the original amount of transition obligations as of the date FAS 87 or 106 was initially applied, (a) the benefit obligation in excess of (b) the fair value of plan assets plus any recognized accrued pension or other postretirement benefit cost or less any recognized prepaid pension or other postretirement benefit cost, the portion of which has yet to be recognized as components of net periodic benefit cost. This amount is pretax. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The difference between fair value of plan assets at the end of the period and the fair value at the beginning of the period, adjusted for contributions and payments of benefits during the period, and after adjusting for taxes and other expenses, as applicable. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The net increase or decrease of changes in the value of either the benefit obligation or the plan assets resulting from experience different from that assumed or from a change in an actuarial assumption, or the consequence of a decision to temporarily deviate from the substantive plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The amounts in accumulated other comprehensive income related to gains and losses that are not recognized immediately and are expected to be recognized as components of net periodic benefit cost over the next fiscal year that follows the most recent annual statement of financial position presented. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The amounts in accumulated other comprehensive income related to prior service cost or credit expected to be recognized as components of net periodic benefit cost over the next fiscal year that follows the most recent annual statement of financial position presented. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The amounts in accumulated other comprehensive income related to transition assets (obligations), origination from the adoption of FAS 87 and 106, expected to be recognized as components of net periodic benefit cost over the next fiscal year that follows the most recent annual statement of financial position presented. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The amount of the prior service cost or credit recognized in net periodic benefit cost relating to benefit changes attributable to plan participants' prior service pursuant to a plan amendment or a plan initiation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The amount of the transition obligation or asset recognized in net periodic benefit cost. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The aggregate amount in accumulated other comprehensive income expected to be recognized as a component of net periodic benefit cost over the fiscal year that follows the most recent annual statement of financial position presented (including the net gain or loss, net prior service cost or credit, and net transition asset or obligation). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The amount for overfunded plans recognized in the balance sheet as a noncurrent asset associated with a defined benefit pension plan or other postretirement defined benefit plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The interest rate used to adjust for the time value of money for the plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Expected rate of compensation increases (for pay-related plans). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The interest rate used to adjust for the time value of money. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
An assumption as to the rate of return on plan assets reflecting the average rate of earnings expected on the funds invested or to be invested to provide for the benefits included in the benefit obligation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Expected rate of compensation increases (for pay-related plans). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
1) For defined benefit pension plans, the benefit obligation is the projected benefit obligation, which is the actuarial present value as of a date of all benefits attributed by the pension benefit formula to employee service rendered prior to that date. The projected benefit obligation is measured using assumptions as to future compensation levels if the pension benefit formula is based on those future compensation levels (pay-related, final-pay, final-average-pay, or career-average-pay plans). For plans with flat-benefit or nonpay-related pension benefit formulas, the accumulated benefit obligation and the projected benefit obligation are the same. 2) For other postretirement defined benefit plans, the benefit obligation is the accumulated postretirement benefit obligation, which is the actuarial present value of benefits attributed to employee service rendered to a particular date. Prior to an employee's full eligibility date, the accumulated postretirement benefit obligation as of a particular date for an employee is the portion of the expected postretirement benefit obligation attributed to that employee's service rendered to that date; on and after the full eligibility date, the accumulated and expected postretirement benefit obligations for an employee are the same. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The amount of payments made for which participants are entitled under a pension plan, including pension benefits, death benefits, and benefits due on termination of employment. Also includes payments made under a postretirement benefit plan, including prescription drug benefits, health care benefits, life insurance benefits, and legal, educational and advisory services. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The amount of contributions made by the employer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The amount of contributions made by plan participants. Under a contributory plan active employees or retirees contribute part of the cost. In some contributory plans, those wishing to be covered must contribute; in others, the contributions result in increased benefits. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The employer's best estimate, as soon as it can be reasonably determined, of contributions expected to be paid to the plan during the next fiscal year beginning after the date of the latest statement of financial position. Estimated contributions may be presented in the aggregate combining (1) contributions required by funding regulations or laws, (2) discretionary contributions, and (3) noncash contributions. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The amount of the aggregate benefits expected to be paid in the five fiscal years thereafter (the aggregate amount of benefits expected to be paid in years 6 through 10 after the date of the latest statement of financial position). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The amount of the benefits expected to be paid in Year 5. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The amount of the benefits expected to be paid in Year 4. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The amount of the benefits expected to be paid in Year 1. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The amount of the benefits expected to be paid in Year 3. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The amount of the benefits expected to be paid in Year 2. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
An amount calculated as a basis for determining the extent of delayed recognition of the effects of changes in the fair value of assets. The expected return on plan assets is determined based on the expected long-term rate of return on plan assets and the market-related value of plan assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Assets, usually stocks, bonds, and other investments, that have been segregated and restricted (usually in a trust) to provide benefits, at their fair value as of the measurement date. Plan assets include amounts contributed by the employer (and by employees for a contributory plan) and amounts earned from investing the contributions, less benefits paid. If a plan has liabilities other than for benefits, those nonbenefit obligations may be considered as reductions of plan assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The amount of increase or decrease in the benefit obligation attributed to foreign currency changes. The effects of foreign currency exchange rate changes that are to be disclosed are those applicable to plans of a foreign operation whose functional currency is not the reporting currency. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The amount of increase or decrease in plan assets attributed to foreign currency changes. The effects of foreign currency exchange rate changes that are to be disclosed are those applicable to plans of a foreign operation whose functional currency is not the reporting currency. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The funded status is measured as the difference between the fair value of plan assets and the benefit obligation. Will normally be the same as the net Defined Benefit Plan, Amounts Recognized in Balance Sheet, Total. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The assumed health care cost trend rate for the next year used to measure the expected cost of benefits covered by the plan (gross eligible charges). This is based upon the annual rate of change in the cost of health care benefits currently provided by the postretirement benefit plan, due to factors other than changes in the composition of the plan population by age and dependency status. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The increase in a defined benefit pension plan's projected benefit obligation or a defined benefit postretirement plan's accumulated postretirement benefit obligation due to the passage of time. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
If aggregate disclosures are presented, the aggregate pension accumulated benefit obligation for pension plans with accumulated benefit obligations in excess of plan assets as of the measurement date of each statement of financial position presented. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
If aggregate disclosures are presented, the aggregate fair value of plan assets for pension plans with accumulated benefit obligations in excess of plan assets as of the measurement date of each statement of financial position presented. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The amount of increase or decrease due to a change in the terms of an existing plan or the initiation of a new plan. A plan amendment may increase or decrease benefits, including those attributed to years of service already rendered. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
If aggregate disclosures are presented, the aggregate benefit obligation for plans with benefit obligations in excess of plan assets as of the measurement date of each statement of financial position presented. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
If aggregate disclosures are presented, the aggregate fair value of plan assets for plans with benefit obligations in excess of plan assets as of the measurement date of each statement of financial position presented. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The aggregate amount of net gain or loss recognized in net periodic benefit cost due to settlements and curtailments. Curtailments result from an event that significantly reduces the expected years of future service of present employees or eliminates for a significant number of employees the accrual of defined benefits for some or all of their future services. Settlements result from an irrevocable action that relieves the employer (or the plan) of primary responsibility for a benefit obligation and eliminates significant risks related to the obligation and the assets used to effect the settlement. Examples of transactions that constitute a settlement include (a) making lump-sum cash payments to plan participants in exchange for their rights to receive specified benefits and (b) purchasing nonparticipating annuity contracts to cover vested benefits. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The actuarial present value of benefits attributed by the pension benefit formula to services rendered by employees during the period. The portion of the expected postretirement benefit obligation attributed to employee service during the period. The service cost component is a portion of the benefit obligation and is unaffected by the funded status of the plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The amount of increase related to special termination benefits offered to and accepted by employees in connection with their termination of employment that are only offered for a short period of time. A situation involving termination benefits may also involve a curtailment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Target allocation percentage of investments in debt securities to total plan assets presented on a weighted-average basis as of the measurement date of the latest statement of financial position. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Target allocation percentage of investments in equity securities to total plan assets presented on a weighted-average basis as of the measurement date of the latest statement of financial position. No definition available.
|
X | ||||||||||
- Definition
Target allocation percentage in other than debt securities, equity securities, and real estate to total plan assets presented on a weighted-average basis as of the measurement date of the latest statement of financial position. No definition available.
|
X | ||||||||||
- Definition
The ultimate trend rate for health care costs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The aggregate percentage of the fair value of investments (categorized by debt securities, equity securities, real estate and other plan assets) to the fair value of total plan assets held as of the measurement date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The year when the ultimate health care cost trend rate is expected to be reached. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The amount of the cost recognized during the period for defined contribution plans. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Cash outflows for payments of postemployment benefits (such as severance pay and health insurance benefits) recognized during the period. Postemployment benefits are benefits paid to employees after employment but before retirement. No definition available.
|
X | ||||||||||
- Definition
For a classified balance sheet, the amount recognized in balance sheet as a current liability associated with an underfunded defined benefit plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
This represents the noncurrent liability for underfunded plans recognized in the balance sheet that is associated with the defined benefit pension plans and other postretirement defined benefit plans. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The charge against earnings in the period for known and estimated costs of termination benefits provided to current employees that are involuntarily terminated under a benefit arrangement associated with exit from or disposal of business activities or restructurings pursuant to a duly authorized plan, excluding costs or losses pertaining to an entity newly acquired in a business combination or a discontinued operation as defined by generally accepted accounting principles and costs associated with one-time termination benefits. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Liability for amount due employees, in addition to wages and any other money that employers owe employees, when their employment ends through a layoff or other termination. For example, a company may provide involuntarily terminated employees with a lump sum payment equal to one week's salary for every year of employment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Commitments and Contingencies (Details) (USD $)
|
12 Months Ended | |||
---|---|---|---|---|
Dec. 31, 2010
|
Dec. 31, 2009
|
Dec. 31, 2008
|
Apr. 22, 2010
|
|
Notes to Financial Statements [Abstract] | ||||
Cash payment amount terminating the capital lease obligation for GSF Explorer | $ 15,000,000 | |||
Rental expenses for all leases, including leases with terms of less than one year | 98,000,000 | 99,000,000 | 89,000,000 | |
Capital leases, future minimum rental payments [Abstract] | ||||
2011 | 66,000,000 | |||
2012 | 72,000,000 | |||
2013 | 72,000,000 | |||
2014 | 73,000,000 | |||
2015 | 73,000,000 | |||
Thereafter | 990,000,000 | |||
Total future minimum rental payment | 1,346,000,000 | |||
Operating leases, future minimum rental payments [Abstract] | ||||
2011 | 36,000,000 | |||
2012 | 31,000,000 | |||
2013 | 23,000,000 | |||
2014 | 16,000,000 | |||
2015 | 12,000,000 | |||
Thereafter | 32,000,000 | |||
Total future minimum rental payment | 150,000,000 | |||
Less amount representing imputed interest | (652,000,000) | |||
Present value of future minimum rental payments under capital leases | 694,000,000 | |||
Less current portion included in debt due within one year | (16,000,000) | |||
Long-term capital lease obligation | 678,000,000 | |||
Aggregate carrying amount of assets held under capital lease [Abstract] | ||||
Property and equipment, cost | 740,000,000 | 982,000,000 | ||
Accumulated depreciation | (20,000,000) | (27,000,000) | ||
Property and equipment, net | 720,000,000 | 955,000,000 | ||
Depreciation expense for GSF Explorer and Petrobras 10000 | 23,000,000 | 14,000,000 | 12,000,000 | |
Months of depreciation expense included in costs and expenses for GSF Explorer (in months) | 3 | |||
Macondo well incident [Abstract] | ||||
Number of persons declared dead | 11 | |||
Number of miles Deepwater Horizon was off coast of Louisiana | 41 | |||
Liability recorded based on probable losses related to the rig explosion and fire incident | 135,000,000 | |||
Portion of liability related to the rig explosion and fire incident recoverable from insurance and recognized as a receivable | 94,000,000 | |||
Number of actions and/or claims filed in state and federal courts | 304 | |||
Number of subsidiaries entities named in numerous complaints that allege wrongful death and other personal injuries | we and one or more of our subsidiaries | |||
Number of complaints filed in state and federal courts in Louisiana and Texas involving multiple plaintiffs that allege wrongful death and other personal injuries arising out of the Macondo well incident | 30 | |||
Number of subsidiaries named in numerous complaints that allege potential economic loss as a result of environmental pollution | we and one or more of our subsidiaries | |||
Number of individual complaints filed alleging, among other things, economic losses as a result of environmental pollution arising out of the Macondo well incident | 70 | |||
Number of putative class action complaints filed alleging, among other things, economic losses as a result of environmental pollution arising out of the Macondo well incident | 185 | |||
Number of complaints that alleges violation of RICO Act | 1 | |||
Number of federal securities law class actions filed | 3 | |||
Number of federal securities law class actions filed which generally allege violations of Section 10(b) of the Securities Exchange Act of 1934 | 2 | |||
Number of shareholder derivative suits filed | 2 | |||
Number of schemes under which environmental claims were filed | 2 | |||
Number of regimes under which environmental claims were filed | 2 | |||
Number of invoices issued by National Pollution Funds Center to BP, Anadarko and Mitsui as operators and owners of well | 9 | |||
Number of invoices issued by National Pollution Funds Center paid by BP | 9 | |||
Number of Gulf Coast states Attorneys General seeking recovery of clean up costs and damages | 5 | |||
Number of Atlantic Coast states Attorneys General wanting assurances of financial responsibility for potential damages | 11 | |||
Percentage of asset value covered by wreck removal insurance (in hundredths) | 25.00% | |||
Asset value covered by wreck removal insurance | 140,000,000 | |||
Amount agreed to indemnify and defend operator of rig | 15,000,000 | |||
Asbestos litigation [Abstract] | ||||
Number of complaints filed in 2004 in Mississippi regarding asbestos litigation | 21 | |||
Number of plaintiffs covered by complaints filed in 2004 in Mississippi regarding asbestos litigation | 769 | |||
Number of subsidiaries named as a direct defendant in amended asbestos complaints | 1 | |||
Number of cases filed under amended complaint in Mississippi regarding asbestos litigation | 7 | |||
Number of additional cases in which there may be an indirect interest regarding asbestos litigation | 12 | |||
Number of cases in which subsidiary is a named defendant that are scheduled for trial in 2010 | two | |||
Number of cases from original asbestos claim in 2004 that went to trial in 2009 against unaffiliated defendant companies | 2 | |||
Number of cases from original asbestos claim in 2004 that went to trial in 2009 that received verdict in favor of plaintiff | 1 | |||
Number of cases from original asbestos claim in 2004 that went to trial in 2009 that received verdict in favor of defendant | second case | |||
Number of subsidiaries involved in lawsuits arising from design, construction and refurbishment of major industrial complexes | 1 | |||
Number of lawsuits alleging personal injury from asbestos exposure for subsidiary involved in design, construction and refurbishment of major industrial complexes | 1,037 | |||
Estimated number of plaintiffs in lawsuits alleging personal injury from asbestos exposure for subsidiary involved in design, construction and refurbishment of major industrial complexes | 2,440 | |||
Insurance limits potentially available for damages in lawsuits regarding personal injury from asbestos exposure for subsidiary involved in design, construction and refurbishment of major industrial complexes | 1,000,000,000 | |||
Rio de Janeiro Tax Assessment [Abstract] | ||||
Tax assessment from state tax authorities of Rio de Janeiro in Brazil | 188,000,000 | |||
Number of subsidiaries involved in Rio de Janeiro tax assessment | 1 | |||
Brazilian import license assessment [Abstract] | ||||
Tax assessment from federal tax authorities of Rio de Janeiro in Brazil relating to import license | 235,000,000 | |||
Number of subsidiaries involved in Rio de Janeiro federal tax assessment relating to import license | 1 | |||
Hazardous waste disposal sites [Abstract] | ||||
Percentage of liability for remediation and related costs from hazardous waste disposal site (in hundredths) | 8.00% | |||
Number of subsidiaries ordered by California Regional Water Quality Control Board to develop testing plan for Alhambra, California site | 1 | |||
Number of subsidiaries likely to be named potentially responsible party by US Environmental Protection Agency for superfund site | one or more | |||
Contamination litigation [Abstract] | ||||
Number of subsidiaries served with a lawsuit alleging property contamination in Louisiana | 1 | |||
Number of landowners who filed a lawsuit alleging property contamination in Louisiana | 3 | |||
Number of other defendants involved in lawsuit alleging property contamination in Louisiana | 19 | |||
Amount claimed by plaintiffs' experts as required remediation costs for property contamination in Louisiana | 300,000,000 | |||
Amount claimed by defendants' experts as required remediation costs for property contamination in Louisiana | 2,500,000 | |||
Number of additional subsidiaries plaintiff attempted to add as defendant for lawsuit alleging property contamination in Louisiana | 2 | |||
Amount of settlement by codefendant for property contamination in Louisiana | 20,000,000 | |||
Retained risk [Abstract] | ||||
Per occurrence insurance deductible on hull and machinery | 125,000,000 | |||
Maximum aggregate insurance deductible on hull and machinery per year | 250,000,000 | |||
Percentage of asset value covered by wreck removal insurance (in hundredths) | 25.00% | |||
Percentage of asset value covered by damage mitigation insurance (in hundredths) | 25.00% | |||
Shared deductible in the event of a total loss or a constructive total loss of a drilling unit | 0 | |||
Commercial market excess liability coverage | 950,000,000 | |||
Per occurrence deductible on crew personal injury liability and collision liability claims | 10,000,000 | |||
Per occurrence deductible on other third-party non-crew claims | 5,000,000 | |||
Aggregate per occurrence deductible on other third party non-crew claims | 50,000,000 | |||
Liability loss limit for commercial market excess liability coverage | 1,000,000,000 | |||
Additional insurance that covers expenses that would otherwise be assumed by the well owner | 100,000,000 | |||
Aggregate value of drilling rig fleet | 38,500,000,000 | |||
Maximum liability amount for well control and redrilling liability related to blowouts | 50,000,000 | |||
Letters of credit and surety bonds [Abstract] | ||||
Letters of credit outstanding | 595,000,000 | 567,000,000 | ||
Amount of letter of credit issued on behalf of TPDI | 60,000,000 | |||
Number of subsidiaries that established the letter of credit on behalf of TPDI | 1 | |||
Surety bonds outstanding | 27,000,000 | 31,000,000 | ||
Newbuilds [Member]
|
||||
Unrecorded Unconditional Purchase Obligation [Line Items] | ||||
2011 | 381,000,000 | |||
2012 | 149,000,000 | |||
2013 | 0 | |||
2014 | 0 | |||
2015 | 0 | |||
Thereafter | 0 | |||
Total purchase obligations | $ 530,000,000 |
X | ||||||||||
- Definition
Additional insurance that generally covers expenses that would otherwise be assumed by the well owner, such as costs to control the well, redrill expenses and pollution from the well. No definition available.
|
X | ||||||||||
- Definition
Aggregate per occurrence deductible on other third party non-crew claims. No definition available.
|
X | ||||||||||
- Definition
Aggregate insured value of drilling rig fleet. No definition available.
|
X | ||||||||||
- Definition
Amount claimed by defendants' experts as required remediation costs for property contamination in Louisiana due to oil and gas exploration activities. No definition available.
|
X | ||||||||||
- Definition
Amount claimed by plaintiffs' experts as required remediation costs for property contamination in Louisiana due to oil and gas exploration activities. No definition available.
|
X | ||||||||||
- Definition
Amount of letter of credit issued on behalf of TPDI. No definition available.
|
X | ||||||||||
- Definition
Amount of settlement by the codefendant for property contamination in Louisiana due to oil and gas exploration activities. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Amount of asset value covered by wreck removal insurance. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Commercial market excess liability coverage, exclusive of deductibles and self-insured retention, which generally covers offshore risks such as personal injury, third-party property claims, and third-party non-crew claims, including wreck removal and pollution. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Estimated number of plaintiffs in lawsuits alleging personal injury from asbestos exposure for subsidiary involved in design, construction and refurbishment of major industrial complexes. No definition available.
|
X | ||||||||||
- Definition
Insurance limits potentially available for damages in lawsuits regarding personal injury from asbestos exposure for subsidiary involved in design, construction and refurbishment of major industrial complexes. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Outstanding letters of credit which guarantee various contract bidding and performance activities under various committed and uncommitted credit lines provided by several banks. No definition available.
|
X | ||||||||||
- Definition
Insurance liability loss limit for commercial market excess liability coverage, exclusive of deductibles and self-insured retention. No definition available.
|
X | ||||||||||
- Definition
Amount agreed to indemnify and defend operator of Deepwater Horizon related to Macondo well incident. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Maximum aggregate insurance deductible on hull and machinery per year. No definition available.
|
X | ||||||||||
- Definition
Amount of maximum liability for well control and redrilling liability related to blowouts. No definition available.
|
X | ||||||||||
- Definition
The number of months of depreciation expense for the GSF Explorer capital lease obligation that was terminated included in costs and expenses for the reporting period. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Number of actions and/or claims filed related to Macondo well incident. No definition available.
|
X | ||||||||||
- Definition
Number of additional cases in which there may be an indirect interest in amended asbestos complaint. No definition available.
|
X | ||||||||||
- Definition
Number of additional unnamed subsidiaries plaintiff attempted to add into lawsuit for property contamination in Louisiana due to oil and gas exploration activities. No definition available.
|
X | ||||||||||
- Definition
Number of Atlantic Coast states Attorney Generals that want assurances of financial responsibility for potential damages related to the Macondo well incident. No definition available.
|
X | ||||||||||
- Definition
Number of cases filed under amended asbestos complaint. No definition available.
|
X | ||||||||||
- Definition
Number of cases from original asbestos claim in 2004 that went to trial in 2009 against unaffiliated defendant companies. No definition available.
|
X | ||||||||||
- Definition
Number of cases from original asbestos claim in 2004 that went to trial in 2009 that received a verdict in favor of the defendant. No definition available.
|
X | ||||||||||
- Definition
Number of cases from original asbestos claim in 2004 that went to trial in 2009 that received a verdict in favor of the plaintiff. No definition available.
|
X | ||||||||||
- Definition
Number of cases in which a subsidiary is a named defendant that are scheduled for trial in 2010. No definition available.
|
X | ||||||||||
- Definition
Number of complaints that also alleges violation of RICO Act related to the Macondo well incident. No definition available.
|
X | ||||||||||
- Definition
Number of complaints filed in state and federal courts in Louisiana and Texas involving multiple plaintiffs that allege wrongful death and other personal injuries arising out of the Macondo well incident No definition available.
|
X | ||||||||||
- Definition
Number of complaints filed in 2004 in Mississippi regarding asbestos litigation. No definition available.
|
X | ||||||||||
- Definition
Number of federal securities law class actions filed related to the Macondo well incident. No definition available.
|
X | ||||||||||
- Definition
Number of federal securities law class actions filed related to the Macondo well incident, which generally allege violations of Section 10(b) of the Securities Exchange Act of 1934. No definition available.
|
X | ||||||||||
- Definition
Number of Gulf Coast states Attorney Generals that seek recovery of clean up costs and damages related to the Macondo well incident. No definition available.
|
X | ||||||||||
- Definition
Number of individual complaints filed alleging, among other things, economic losses as a result of environmental pollution arising out of the Macondo well incident. No definition available.
|
X | ||||||||||
- Definition
Number of invoices issued by National Pollution Funds Center to BP, Anadarko and Mitsui as operators and owners of well. No definition available.
|
X | ||||||||||
- Definition
Number of invoices issued by National Pollution Funds Center paid by BP. No definition available.
|
X | ||||||||||
- Definition
Number of landowners who filed a lawsuit alleging property contamination in Louisiana due to oil and gas exploration activities. No definition available.
|
X | ||||||||||
- Definition
Number of lawsuits alleging personal injury from asbestos exposure for subsidiary involved in design, construction and refurbishment of major industrial complexes. No definition available.
|
X | ||||||||||
- Definition
The number of miles off the coast of Louisiana the Deepwater Horizon, at time of explosion and fire on the rig operating in the Gulf of Mexico. No definition available.
|
X | ||||||||||
- Definition
Number of other defendants involved in lawsuit alleging property contamination in Louisiana due to oil and gas exploration activities. No definition available.
|
X | ||||||||||
- Definition
The number of persons declared dead from the Macondo well incident. No definition available.
|
X | ||||||||||
- Definition
Number of plaintiffs covered by complaints filed in 2004 in Mississippi regarding asbestos litigation. No definition available.
|
X | ||||||||||
- Definition
Number of putative class action complaints filed alleging, among other things, economic losses as a result of environmental pollution arising out of the Macondo well incident No definition available.
|
X | ||||||||||
- Definition
Number of regimes, federal and state law, under which environmental claims were filed related to the Macondo well incident. No definition available.
|
X | ||||||||||
- Definition
Number of schemes, statutory and common law, under which environmental claims were filed related to the Macondo well incident. No definition available.
|
X | ||||||||||
- Definition
Number of shareholder derivative suits filed naming us as a nominal defendant and certain officers and directors as defendants related to the Macondo well incident. No definition available.
|
X | ||||||||||
- Definition
Number of subsidiaries involved in lawsuits arising from design, construction and refurbishment of major industrial complexes. No definition available.
|
X | ||||||||||
- Definition
Number of subsidiaries involved in Rio de Janeiro federal tax assessment relating to import license No definition available.
|
X | ||||||||||
- Definition
Number of subsidiaries involved in Rio de Janeiro tax assessment. No definition available.
|
X | ||||||||||
- Definition
Number of subsidiaries likely to be named a potentially responsible party by the US Environmental Protection Agency for a superfund site. No definition available.
|
X | ||||||||||
- Definition
Number of subsidiaries named as direct defendant in amended asbestos complaints. No definition available.
|
X | ||||||||||
- Definition
Number of subsidiaries named in numerous complaints that allege economic loss as a result of environmental pollution in various jurisdictions related to the Macondo well incident. No definition available.
|
X | ||||||||||
- Definition
Number of subsidiaries named in numerous complaints that allege wrongful death and other personal injuries in various jurisdictions related to the Macondo well incident. No definition available.
|
X | ||||||||||
- Definition
Number of subsidiaries ordered by California Regional Water Quality Control Board to develop a testing plan for Alhambra, California site. No definition available.
|
X | ||||||||||
- Definition
Number of subsidiaries served with a lawsuit alleging property contamination in Louisiana due to oil and gas exploration activities. No definition available.
|
X | ||||||||||
- Definition
Number of subsidiaries that established the letter of credit on behalf of TPDI under an uncommitted credit facility. No definition available.
|
X | ||||||||||
- Definition
Outstanding amount of surety bonds that secure customs obligations relating to the importation of our rigs and certain performance and other obligations. No definition available.
|
X | ||||||||||
- Definition
Percentage of asset value covered by damage mitigation insurance No definition available.
|
X | ||||||||||
- Definition
Percentage of asset value covered by wreck removal insurance. No definition available.
|
X | ||||||||||
- Definition
Percentage of liability under participation agreement for remediation and related costs from hazardous waste disposal site. No definition available.
|
X | ||||||||||
- Definition
Per occurrence insurance deductible on hull and machinery. No definition available.
|
X | ||||||||||
- Definition
Per occurrence deductible on crew personal injury liability and collision liability claims. No definition available.
|
X | ||||||||||
- Definition
Per occurrence deductible on other third party non-crew claims. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Shared deductible in the event of a total loss or a constructive total loss of a drilling unit No definition available.
|
X | ||||||||||
- Definition
Tax assessment from federal tax authorities of Rio de Janeiro in Brazil relating to failure to timely apply for and improper information on import license application No definition available.
|
X | ||||||||||
- Definition
Tax assessment from the state tax authorities of Rio de Janeiro in Brazil for taxes on equipment imported into the state in connection with our operations. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
The total gross amount of assets subject to a lease meeting the criteria for capitalization. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount equal to the present value (the principal) at the beginning of the lease term of minimum lease payments during the lease term (excluding that portion of the payments representing executory costs such as insurance, maintenance, and taxes to be paid by the lessor, together with any profit thereon) net of payments or other amounts applied to the principal, through the balance sheet date and due to be paid within one year (or one operating cycle, if longer) of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount equal to the present value (the principal) at the beginning of the lease term of minimum lease payments during the lease term (excluding that portion of the payments representing executory costs such as insurance, maintenance, and taxes to be paid by the lessor, together with any profit thereon) net of payments or other amounts applied to the principal, through the balance sheet date and due to be paid more than one year (or one operating cycle, if longer) after the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The total gross amount less the charge for the use of the long-lived depreciable assets subject to a lease meeting the criteria for capitalization. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The total of contractually required rental payments on leases meeting the criteria for capitalization. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Contractually required rental payments on leases meeting the criteria for capitalization, due within one year of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Contractually required rental payments on leases meeting the criteria for capitalization, due within the fifth year from the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Contractually required rental payments on leases meeting the criteria for capitalization, due within the fourth year from the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Contractually required rental payments on leases meeting the criteria for capitalization, due within the third year from the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Contractually required rental payments on leases meeting the criteria for capitalization, due within the second year from the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Contractually required rental payments due on leases meeting the criteria for capitalization, after the fifth year from the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount necessary to reduce net minimum lease payments to present value calculated at the entity's incremental borrowing rate at the inception of the lease. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The discounted value of future cash flows under leases meeting the criteria for capitalization. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The charge for the use of long-lived depreciable capital leased assets for the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The total charge for the use of long-lived depreciable assets subject to a lease meeting the criteria for capitalization. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount due in settlement of a claim for reimbursement from an insurance company when the Company has suffered a loss covered under an insurance policy. For classified balance sheets, represents the current amount receivable, that is amounts expected to be collected within one year or the normal operating cycle, if longer. No definition available.
|
X | ||||||||||
- Definition
Rental expense incurred for leased assets including furniture and equipment which has not been recognized in costs and expenses applicable to sales and revenues; for example, cost of goods sold or other operating costs and expenses. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Reflects the estimated amount of loss from the specified contingency as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The total of future contractually required payments on leases defined as operating. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
For leases having an initial or remaining non-cancelable letter-terms in excess of one year, required rental payments due within one year of the balance sheet date relating to leases defined as operating. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
For leases having an initial or remaining non-cancelable letter-terms in excess of one year, required rental payments due within the fifth year of the balance sheet date relating to leases defined as operating. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
For leases having an initial or remaining non-cancelable letter-terms in excess of one year, required rental payments due within the fourth year of the balance sheet date relating to leases defined as operating. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
For leases having an initial or remaining non-cancelable letter-terms in excess of one year, required rental payments due within the third year of the balance sheet date relating to leases defined as operating. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
For leases having an initial or remaining non-cancelable letter-terms in excess of one year, required rental payments due within the second year of the balance sheet date relating to leases defined as operating. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
For leases having an initial or remaining non-cancelable letter-terms in excess of one year, required rental payments due after the fifth year from the balance sheet date on leases defined as operating. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The cash outflow for the obligation for lease meeting the criteria for capitalization (with maturities exceeding one year or beyond the operating cycle of the entity, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
Redeemable Noncontrolling Interest (Details) (USD $)
In Millions, unless otherwise specified |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2010
|
Dec. 31, 2009
|
Dec. 31, 2008
|
|
Notes to Financial Statements [Abstract] | |||
Balance, beginning of period | $ 0 | $ 0 | $ 0 |
Reclassification from noncontrolling interest | 26 | 0 | 0 |
Net income attributable to noncontrolling interest | 13 | 0 | 0 |
Other comprehensive income attributable to noncontrolling interest | (14) | 0 | 0 |
Balance, end of period | $ 25 | $ 0 | $ 0 |
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
As of the reporting date, the carrying amount of noncontrolling interests which are redeemable by the (parent) entity (1) at a fixed or determinable price on a fixed or determinable date, (2) at the option of the holder of the noncontrolling interest, or (3) upon occurrence of an event that is not solely within the control of the (parent) entity. No definition available.
|
X | ||||||||||
- Definition
Change in noncontrolling interest during the period related to net income attributable to the noncontrolling interest. No definition available.
|
X | ||||||||||
- Definition
Change in noncontrolling interest during the period related to other comprehensive income attributable to the noncontrolling interest. No definition available.
|
X | ||||||||||
- Definition
Change in noncontrolling interest during the period as a result of a reclassification from noncontrolling interests to temporary equity. No definition available.
|
Equity (Details)
|
12 Months Ended | ||||||
---|---|---|---|---|---|---|---|
Dec. 31, 2010
USD ($)
|
Dec. 31, 2010
CHF
|
Dec. 31, 2009
USD ($)
|
Dec. 31, 2008
USD ($)
|
Aug. 13, 2010
|
May 30, 2010
USD ($)
|
May 30, 2010
CHF
|
|
Shares held by subsidiary [Abstract] | |||||||
Number of shares held by subsidiary (in shares) | 13,291,353 | 13,291,353 | 14,011,416 | ||||
Share repurchase program [Abstract] | |||||||
Authorized aggregate purchase price of shares for cancellation | $ 3,800,000,000 | 3,500,000,000 | |||||
Share repurchase USD exchange rate | 1 | ||||||
Share repurchase CHF exchange rate | 0.93 | ||||||
Shares repurchased under share repurchase program (in shares) | 2,863,267 | 2,863,267 | |||||
Purchases of shares held in treasury | (240,000,000) | 0 | 0 | ||||
Shares repurchased under share repurchase program held as treasury shares (in shares) | 2,863,267 | 2,863,267 | |||||
Distribution [Abstract] | |||||||
Cash distribution approved in the form of a par value reduction (in CHF or dollars per share) | $ 3.7 | 3.44 | |||||
Share repurchase USD Exchange Rate | 1 | ||||||
Share Repurchase CHF Exchange Rate | 0.93 | ||||||
Number of planned partial par value reductions previously approved by shareholders | 4 |
X | ||||||||||
- Definition
Aggregate purchase price of shares approved and authorized for intended cancellation. No definition available.
|
X | ||||||||||
- Definition
Cash distribution approved at the May 2010 annual general meeting in the form of a par value reduction per share. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The number of planned partial par value reductions approved by shareholders. No definition available.
|
X | ||||||||||
- Definition
Number of shares held by Subsidiary No definition available.
|
X | ||||||||||
- Definition
Share repurchase CHF exchange rate. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Share repurchase USD exchange rate. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Number of shares that have been repurchased during the period and are being held in treasury. No definition available.
|
X | ||||||||||
- Definition
Number of common and preferred shares that were previously issued and that were repurchased by the issuing entity and held in treasury on the financial statement date. This stock has no voting rights and receives no dividends. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Cost of common and preferred stock that were repurchased during the period. Recorded using the cost method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Share based compensation (Details) (USD $)
|
12 Months Ended | |||||||
---|---|---|---|---|---|---|---|---|
Dec. 31, 2010
|
Dec. 31, 2009
|
Dec. 31, 2008
|
||||||
Overview [Abstract] | ||||||||
Authorized shares for employee grants (in shares) | 36,000,000 | |||||||
Shares available to be granted | 16,000,000 | 577,537 | ||||||
Number of shares issued to Transocean Inc. in connection with the Redomestication Transaction (in shares) | 16,000,000 | |||||||
Number of available shares issued to Transocean Inc. in connection with the Redomestication Transaction (in shares) | 13,000,000 | |||||||
Total unrecognized compensation costs related to unvested share-based awards | $ 99,000,000 | |||||||
Weighted-average period to recognize unrecognized compensation costs related to unvested share-based awards (in years) | 1.8 | |||||||
Modifications to unrecognized compensation costs related to unvested share-based awards | 12,000,000 | 8,000,000 | ||||||
Restricted shares, deferred units, stock appreciation rights, and employee stock purchase plan, additional disclosures [Abstract] | ||||||||
Minimum percentage of annual base earnings full-time employees can have withheld to purchase shares (in hundredths) | 2.00% | |||||||
Maximum percentage of annual base earnings full-time employees can have withheld to purchase shares (in hundredths) | 20.00% | |||||||
Maximum annual base earnings full-time employees can have withheld to purchase shares | 21,150 | |||||||
Percentage discount from market price of shares (in hundredths) | 85.00% | |||||||
Time Based Award Plan [Member]
|
||||||||
Overview [Abstract] | ||||||||
Vesting rights for share-based payment awards | three equal annual installments | |||||||
Time Based Award Plan [Member] | Stock Options [Member]
|
||||||||
Overview [Abstract] | ||||||||
Expiration term for stock options and stock appreciation rights from date of grant (in years) | 10Y | |||||||
Option valuation assumptions [Abstract] | ||||||||
Fair value assumptions, method used | Black-Scholes-Merton option pricing model | |||||||
Dividend yield (in hundredths) | 4.00% | 0.00% | 0.00% | |||||
Expected price volatility (in hundredths) | 39.00% | 49.00% | 36.00% | |||||
Risk free interest rate (in hundredths) | 2.30% | 1.80% | 3.00% | |||||
Expected life of options (in years) | 4.70 | 4.80 | 4.40 | |||||
Weighted-average grant date fair value (in dollars per share) | $ 30.03 | $ 26.07 | $ 49.32 | |||||
Stock options [Roll Forward] | ||||||||
Balance at beginning of period (in shares) | 1,828,655 | |||||||
Granted (in shares) | 253,288 | 597,898 | 276,281 | |||||
Exercised (in shares) | (289,445) | 980,105 | 1,066,173 | |||||
Forfeited (in shares) | (138,815) | |||||||
Balance at end of period (in shares) | 1,653,683 | 1,828,655 | ||||||
Vested and exercisable at end of period (in shares) | 1,183,283 | |||||||
Stock options, additional disclosures [Abstract] | ||||||||
Balance at beginning of period, weighted-average exercise price per share (in dollars per share) | $ 60.69 | |||||||
Granted, weighted-average exercise price per share (in dollars per share) | $ 82.55 | |||||||
Exercised, weighted-average exercise price per share (in dollars per share) | $ 42.26 | |||||||
Forfeited, weighted-average exercise price per share (in dollars per share) | $ 71.37 | |||||||
Balance at end of period, weighted-average exercise price per share (in dollars per share) | $ 66.37 | $ 60.69 | ||||||
Vested and exercisable at end of period, weighted-average exercise price per share (in dollars per share) | $ 61.28 | |||||||
Balance at beginning of period, weighted-average remaining contractual term (in years) | 4.96 | |||||||
Balance at end of period, weighted-average remaining contractual term (in years) | 5.29 | 4.96 | ||||||
Options exercisable at end of period, weighted-average remaining contractual term (in years) | 3.99 | |||||||
Balance at beginning of period, aggregate intrinsic value | 40,000,000 | |||||||
Balance at end of period, aggregate intrinsic value | 5,000,000 | 40,000,000 | ||||||
Options vested and exercisable at end of period, aggregate intrinsic value | 10,000,000 | |||||||
Weighted-average grant-date fair value per share of options granted (in dollars per share) | $ 30.03 | $ 26.07 | $ 49.32 | |||||
Total pretax intrinsic value of options exercised | 11,000,000 | 43,000,000 | 101,000,000 | |||||
Unvested options outstanding at end of period (in shares) | 470,400 | 656,790 | 273,314 | |||||
Time Based Award Plan [Member] | Restricted Shares [Member]
|
||||||||
Restricted shares, deferred units, stock appreciation rights, and employee stock purchase plan [Roll Forward] | ||||||||
Balance at beginning of period (in shares) | 98,386 | |||||||
Granted (in shares) | 0 | 259,057 | ||||||
Vested (in shares) | (92,573) | 320,782 | 129,979 | |||||
Forfeited (in shares) | (1,874) | |||||||
Exercised (in shares) | 0 | |||||||
Balance at end of period (in shares) | 3,939 | 98,386 | ||||||
Restricted shares, deferred units, stock appreciation rights, and employee stock purchase plan, additional disclosures [Abstract] | ||||||||
Balance at beginning of period, weighted-average grant-date fair value per share (in dollars per share) | $ 112.14 | |||||||
Vested, weighted-average grant-date fair value per share (in dollars per share) | $ 111.32 | $ 126.26 | ||||||
Forfeited, weighted-average grant-date fair value per share (in dollars per share) | $ 109.97 | |||||||
Balance at end of period, weighted-average grant-date fair value per share (in dollars per share) | $ 132.32 | $ 112.14 | ||||||
Grant-date fair value of vested shares | 10,000,000 | 39,000,000 | 14,000,000 | |||||
Time Based Award Plan [Member] | Deferred Units [Member]
|
||||||||
Restricted shares, deferred units, stock appreciation rights, and employee stock purchase plan [Roll Forward] | ||||||||
Balance at beginning of period (in shares) | 1,455,447 | |||||||
Granted (in shares) | 1,055,367 | 1,287,893 | 498,216 | |||||
Vested (in shares) | (559,339) | 282,543 | 25,740 | |||||
Forfeited (in shares) | (106,691) | |||||||
Exercised (in shares) | 0 | |||||||
Balance at end of period (in shares) | 1,844,784 | 1,455,447 | ||||||
Restricted shares, deferred units, stock appreciation rights, and employee stock purchase plan, additional disclosures [Abstract] | ||||||||
Balance at beginning of period, weighted-average grant-date fair value per share (in dollars per share) | $ 76.58 | |||||||
Granted, weighted-average grant-date fair value per share (in dollars per share) | $ 76.83 | $ 60.53 | $ 143.85 | |||||
Vested, weighted-average grant-date fair value per share (in dollars per share) | $ 81.11 | |||||||
Forfeited, weighted-average grant-date fair value per share (in dollars per share) | $ 78.65 | |||||||
Balance at end of period, weighted-average grant-date fair value per share (in dollars per share) | $ 75.23 | $ 76.58 | ||||||
Grant-date fair value of vested shares | 45,000,000 | 33,000,000 | 3,000,000 | |||||
Time Based Award Plan [Member] | Stock Appreciation Rights [Member]
|
||||||||
Overview [Abstract] | ||||||||
Expiration term for stock options and stock appreciation rights from date of grant (in years) | 10Y | |||||||
Restricted shares, deferred units, stock appreciation rights, and employee stock purchase plan [Roll Forward] | ||||||||
Balance at beginning of period (in shares) | 189,139 | |||||||
Exercised (in shares) | 224 | 315,408 | ||||||
Balance at end of period (in shares) | 189,139 | 189,139 | ||||||
Vested and exercisable at end of period (in shares) | 189,139 | |||||||
Restricted shares, deferred units, stock appreciation rights, and employee stock purchase plan, additional disclosures [Abstract] | ||||||||
Balance at beginning of period, weighted-average exercise price per share (in dollars per share) | $ 93.28 | |||||||
Balance at end of period, weighted-average exercise price per share (in dollars per share) | $ 93.28 | $ 93.28 | ||||||
Vested and exercisable at end of period, weighted-average exercise price per share (in dollars per share) | $ 93.28 | |||||||
Balance at beginning of period, weighted-average remaining contractual term (in years) | 6.76 | |||||||
Balance at end of period, weighted-average remaining contractual term (in years) | 5.76 | 6.76 | ||||||
Vested and exercisable at end of period, weighted-average remaining contractual term (in years) | 5.76 | |||||||
Balance at beginning of period, aggregate intrinsic value | $ 0 | $ 0 | ||||||
Balance at end of period, aggregate intrinsic value | $ 0 | $ 0 | $ 0 | |||||
Vested and exercisable at end of period, aggregate intrinsic value | 0 | |||||||
Performance Based Award Plan [Member]
|
||||||||
Overview [Abstract] | ||||||||
Vesting rights for share-based payment awards | two year award over three annual installments three year award in one installment | |||||||
Measurement period for performance-based and market-based awards (in years) | 2 or 3 year measurement period | |||||||
Performance Based Award Plan [Member] | Stock Options [Member]
|
||||||||
Stock options [Roll Forward] | ||||||||
Balance at beginning of period (in shares) | 179,262 | |||||||
Granted (in shares) | 0 | |||||||
Exercised (in shares) | 0 | 212,840 | ||||||
Forfeited (in shares) | 0 | |||||||
Balance at end of period (in shares) | 179,262 | |||||||
Vested and exercisable at end of period (in shares) | 179,262 | |||||||
Stock options, additional disclosures [Abstract] | ||||||||
Balance at beginning of period, weighted-average exercise price per share (in dollars per share) | $ 75.30 | |||||||
Balance at end of period, weighted-average exercise price per share (in dollars per share) | $ 75.30 | |||||||
Vested and exercisable at end of period, weighted-average exercise price per share (in dollars per share) | $ 75.30 | |||||||
Balance at beginning of period, weighted-average remaining contractual term (in years) | 6.22 | |||||||
Balance at end of period, weighted-average remaining contractual term (in years) | 5.22 | |||||||
Options exercisable at end of period, weighted-average remaining contractual term (in years) | 5.22 | |||||||
Balance at beginning of period, aggregate intrinsic value | 1,000,000 | |||||||
Balance at end of period, aggregate intrinsic value | 0 | |||||||
Options vested and exercisable at end of period, aggregate intrinsic value | 0 | |||||||
Total pretax intrinsic value of options exercised | $ 22,000,000 | |||||||
Market Based Award Plan [Member]
|
||||||||
Overview [Abstract] | ||||||||
Measurement period for performance-based and market-based awards (in years) | 2 or 3 year measurement period | |||||||
Market Based Award Plan [Member] | Deferred Units [Member]
|
||||||||
Restricted shares, deferred units, stock appreciation rights, and employee stock purchase plan [Roll Forward] | ||||||||
Balance at beginning of period (in shares) | 330,870 | |||||||
Granted (in shares) | 122,934 | 285,012 | 99,464 | |||||
Forfeited (in shares) | (30,898) | |||||||
Balance at end of period (in shares) | 422,906 | 330,870 | ||||||
Restricted shares, deferred units, stock appreciation rights, and employee stock purchase plan, additional disclosures [Abstract] | ||||||||
Balance at beginning of period, weighted-average grant-date fair value per share (in dollars per share) | $ 93.70 | |||||||
Granted, weighted-average grant-date fair value per share (in dollars per share) | $ 82.55 | $ 75.98 | $ 144.32 | |||||
Forfeited, weighted-average grant-date fair value per share (in dollars per share) | $ 84.48 | |||||||
Balance at end of period, weighted-average grant-date fair value per share (in dollars per share) | $ 89.14 | $ 93.70 | ||||||
Market Based Award Plan [Member] | Employee Stock Purchase Plan [Member]
|
||||||||
Option valuation assumptions [Abstract] | ||||||||
Dividend yield (in hundredths) | 0.00% | [1] | 0.00% | [1] | 0.00% | [1] | ||
Expected price volatility (in hundredths) | 0.00% | [1] | 0.00% | [1] | 31.00% | [1] | ||
Risk free interest rate (in hundredths) | 0.00% | [1] | 0.00% | [1] | 3.15% | [1] | ||
Expected life of options (in years) | 0 | [1] | 0 | [1] | 1.00 | [1] | ||
Weighted-average grant date fair value (in dollars per share) | $ 0 | [1] | $ 0 | [1] | $ 41.39 | [1] | ||
Stock options, additional disclosures [Abstract] | ||||||||
Weighted-average grant-date fair value per share of options granted (in dollars per share) | $ 0 | [1] | $ 0 | [1] | $ 41.39 | [1] | ||
|
X | ||||||||||
- Definition
The total modifications during the period to the aggregate unrecognized cost of share-based awards made to employees under share-based compensation plans that have yet to vest. No definition available.
|
X | ||||||||||
- Definition
Number of available shares issued to Transocean Inc. for future use to satisfy obligations to deliver shares in connection with awards granted under incentive plans, warrants or other rights to acquire shares in connection with the Redomestication Transaction. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The number of shares into which fully or partially vested equity instruments other than options outstanding as of the balance-sheet date can be currently converted. No definition available.
|
X | ||||||||||
- Definition
The weighted-average exercise price as of the balance sheet date at which grantees can acquire the shares reserved for issuance on vested portions of equity instruments other than options outstanding and currently exercisable. No definition available.
|
X | ||||||||||
- Definition
The weighted average period between the balance-sheet date and expiration for all vested portions of equity instruments other than options outstanding and currently exercisable (or convertible) under the plan, which may be expressed in a decimal value for number of years. No definition available.
|
X | ||||||||||
- Definition
The decrease in the number of reserved shares that could potentially be issued attributable to the exercise or conversion during the reporting period of previously issued stock appreciation rights. No definition available.
|
X | ||||||||||
- Definition
The weighted average period between the balance-sheet date and expiration for all vested portions of equity instruments other than options outstanding under the plan, which may be expressed in a decimal value for number of years. No definition available.
|
X | ||||||||||
- Definition
As of the balance sheet date, the total dollar difference between fair values of the underlying shares reserved for issuance and exercise prices of fully vested and expected to vest equity instruments other than options that are exercisable. No definition available.
|
X | ||||||||||
- Definition
The weighted average exercise price of awards on share-based plans excluding option plans (for example, phantom stock plan, stock appreciation rights plan, revenue or profit achievement stock award plan) for which the employer is contingently obligated to issue equity instruments or transfer assets to an employee who has not yet satisfied service or performance criteria necessary to gain title to proceeds from the sale of the award or underlying shares. No definition available.
|
X | ||||||||||
- Definition
The maximum amount of annual base earnings full-time employees can have withheld to purchase shares under the plan each year. No definition available.
|
X | ||||||||||
- Definition
An entity may opt to disclose the lowest percentage of annual salary that an employee is permitted to utilize with respect to the plan No definition available.
|
X | ||||||||||
- Definition
As of the balance sheet date, the number of shares into which expected to vest stock options outstanding can be converted under the option plan. No definition available.
|
X | ||||||||||
- Definition
The weighted average period between the balance-sheet date and expiration for all awards outstanding under the plan, which may be expressed in a decimal value for number of years. No definition available.
|
X | ||||||||||
- Definition
As of the balance-sheet date, the aggregate unrecognized cost of share-based awards made to employees under share-based compensation plans that have yet to vest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The weighted average period over which unrecognized compensation is expected to be recognized for share-based compensation plans, using a decimal to express in number of years. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Reflects the dating as to when the share-based award expires as specified in the award agreement, which may be presented in a variety of ways (for example, year, month and year, day, month and year, quarter of a year). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Description of the estimated period of time over which an employee is required to provide service in exchange for the share-based payment award, which often is the vesting period. This period may be explicit or implicit based on the terms of the award, and may be presented in a variety of ways (for example, year, month and year, day, month and year, quarter of a year). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Description of award terms as to how many shares or portion of an award are no longer contingent on satisfaction of either a service condition, market condition or a performance condition, thereby giving the employee the legal right to convert the award to shares, to sell the shares, and be entitled to the cash proceeds of such sale. For example, vesting may be expressed as being 25 percent of the shares under option on each anniversary of the grant date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
An entity may opt to disclose the discount rate from market value on offering date or purchase date that participants pay for shares. Typically, the participant's per share cost is the lower of the prices on the two dates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The number of shares under a share-based award plan other than a stock option plan that were settled during the reporting period due to a failure to satisfy vesting conditions pertaining to all option plans. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The weighted average fair value as of the grant date of share-based award plans other than stock option plans that were not exercised or put into effect during the reporting period as a result of the occurrence of a terminating event specified in the contractual agreement of the plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The number of shares issuable under a share-based award plan pertaining to grants made during the period on other than stock option plans (for example, phantom stock plan, stock appreciation rights plan, performance target plan). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The weighted average fair value at grant for nonvested share-based awards issued during the period on other than stock option plans (for example, phantom stock plan, stock appreciation rights plan, performance target plan). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The intrinsic value of nonvested awards on share-based plans excluding option plans (for example, phantom stock plan, stock appreciation rights plan, revenue or profit achievement stock award plan) for which the employer is contingently obligated to issue equity instruments or transfer assets to an employee who has not yet satisfied service or performance criteria necessary to gain title to proceeds from the sale of the award or underlying shares, as calculated by applying the disclosed pricing methodology. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The number of outstanding awards on nonstock option plans (for example, phantom stock plan, stock appreciation rights plan, revenue or profit achievement stock award plan) for which the employer is contingently obligated to issue equity instruments or transfer assets to an employee who has not yet satisfied service or performance criteria necessary to gain title to proceeds from the sale of the award or underlying shares. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The weighted average fair value of nonvested awards on share-based plans excluding option plans (for example, phantom stock plan, stock appreciation rights plan, revenue or profit achievement stock award plan) for which the employer is contingently obligated to issue equity instruments or transfer assets to an employee who has not yet satisfied service or performance criteria necessary to gain title to proceeds from the sale of the award or underlying shares. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The decrease in the number of shares potentially issuable under a share-based award plan pertaining to awards for which the grantee has gained the right during the reporting period, by satisfying service and performance requirements, to receive or retain shares, other instruments, or cash in accordance with the terms of the arrangement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The total fair value of share-based awards for which the grantee gained the right during the reporting period, by satisfying service and performance requirements, to receive or retain shares, other instruments, or cash in accordance with the terms of the arrangement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The weighted average fair value as of grant dates pertaining to a share-based award plan other than a stock option plan for which the grantee gained the right during the reporting period, by satisfying service and performance requirements, to receive or retain shares, other instruments, or cash in accordance with the terms of the arrangement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The estimated dividend rate (a percentage of the share price) to be paid (expected dividends) to holders of the underlying shares over the option's term. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The period of time a share-based award is expected to be outstanding. A share-based award's expected term shall be determined based on, among other factors, the instrument's contractual term and the effects of employees' expected exercise and post-vesting employment termination behavior. An entity is required to aggregate individual awards into relatively homogeneous groups. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The estimated measure of the percentage amount by which a share price is expected to fluctuate during a period. Volatility also may be defined as a probability-weighted measure of the dispersion of returns about the mean. The volatility of a share price is the standard deviation of the continuously compounded rates of return on the share over a specified period. That is the same as the standard deviation of the differences in the natural logarithms of the stock prices plus dividends, if any, over the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
For each plan, identification of the award pricing model or other valuation method used in calculating the weighted average fair values disclosed. The model is also used to calculate the compensation expense that is shown within the balance sheet, income statement, and cash flow. Examples of valuation techniques are lattice models (binomial model), closed-form models (Black-Scholes-Merton formula), and a Monte Carlo simulation technique. Fair value is the amount at which an asset (or liability) could be bought (or incurred) or sold (or settled) in a current transaction between willing parties, that is, other than in a forced or liquidation sale. May include disclosures about the assumptions underlying application of the method selected. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The risk-free interest rate assumption that is used in valuing an option on its own shares. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
An entity may opt to disclose the highest percentage of annual salary that an employee is permitted to utilize with respect to the plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The maximum number of shares originally approved (usually by shareholders and board of directors), net of any subsequent amendments and adjustments, for awards under the share-based compensation plan. As stock options and equity instruments other than options are awarded to participants, the shares remain authorized and become reserved for issuance under outstanding awards (not necessarily vested). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The difference between the maximum number of shares authorized for issuance under the plan (including the effects of amendments and adjustments), and the sum of: 1) the number of shares already issued upon exercise of options or other share-based awards under the plan, and 2) shares reserved for issuance on granting of outstanding awards, net of cancellations and forfeitures, if applicable. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The total dollar difference between fair values of the underlying shares reserved for issuance and exercise prices of vested portions of options outstanding and currently exercisable under the option plan as of the balance-sheet date. No definition available.
|
X | ||||||||||
- Definition
The number of shares into which fully or partially vested stock options outstanding as of the balance-sheet date can be currently converted under the option plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The weighted-average price as of the balance sheet date at which grantees can acquire the shares reserved for issuance on vested portions of options outstanding and currently exercisable under the stock option plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The weighted average period between the balance-sheet date and expiration for all vested portions of options outstanding and currently exercisable (or convertible) under the plan, which may be expressed in a decimal value for number of years. No definition available.
|
X | ||||||||||
- Definition
The decrease in the number of reserved shares that could potentially be issued attributable to the exercise or conversion during the reporting period of previously issued stock options under the option plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The total accumulated difference between fair values of underlying shares on dates of exercise and exercise price on options which were exercised (or share units converted) into shares during the reporting period under the plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The weighted average price at which option holders acquired shares when converting their stock options into shares under the plan during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The number of shares under options that were cancelled during the reporting period as a result of occurrence of a terminating event specified in contractual agreements pertaining to the stock option plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The weighted average price at which grantees could have acquired the underlying shares with respect to stock options that were terminated during the reporting period due to noncompliance with plan terms during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The quantity of shares issuable on stock options awarded under the plan during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The weighted average price as of the balance sheet date at which grantees can acquire the shares reserved for issuance on stock options awarded under the plan during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The weighted average grant-date fair value of options granted during the reporting period as calculated by applying the disclosed option pricing methodology. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The total dollar difference between fair values of the underlying shares reserved for issuance and exercise prices pertaining to options outstanding under the plan as of the balance-sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The number of shares reserved for issuance under stock option agreements awarded under the plan that validly exist and are outstanding as of the balance-sheet date, including vested options. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The weighted average price as of the beginning of the year at which grantees can acquire the shares reserved for issuance under the stock option plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Supplemental Balance Sheet Information (Details) (USD $)
In Millions, unless otherwise specified |
Dec. 31, 2010
|
Dec. 31, 2009
|
---|---|---|
Other current liabilities [Abstract] | ||
Accrued payroll and employee benefits | $ 272 | $ 263 |
Deferred revenue | 150 | 147 |
Accrued taxes, other than income | 123 | 102 |
Accrued interest | 97 | 83 |
Unearned income | 15 | 15 |
Other | 204 | 120 |
Total other current liabilities | 861 | 730 |
Other long-term liabilities [Abstract] | ||
Long-term income taxes payable | 655 | 594 |
Accrued pension liabilities | 416 | 453 |
Deferred revenue | 393 | 214 |
Drilling contract intangibles | 152 | 268 |
Accrued retiree life insurance and medical benefits | 53 | 51 |
Other | 103 | 104 |
Total other long-term liabilities | $ 1,772 | $ 1,684 |
X | ||||||||||
- Definition
Carrying amount as of the balance sheet date of the definite-lived contract drilling intangible liabilities acquired associated with executory contracts to provide offshore contract drilling services. No definition available.
|
X | ||||||||||
- Definition
Carrying value as of the balance sheet date of obligations incurred and payable for real and property taxes. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Carrying amount as of the balance sheet date of the unpaid sum of the known and estimated amounts payable to satisfy all domestic and foreign income tax obligations due beyond one year or the operating cycle, whichever is longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The carrying amount of consideration received or receivable as of the balance sheet date on potential earnings that were not recognized as revenue in conformity with GAAP, and which are expected to be recognized as such within one year or the normal operating cycle, if longer, including sales, license fees, and royalties, but excluding interest income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The noncurrent portion of deferred revenue amount as of balance sheet date. Deferred revenue is a liability related to a revenue producing activity for which revenue has not yet been recognized, and is not expected to be recognized in the next twelve months. Generally, an entity records deferred revenue when it receives consideration from a customer before achieving certain criteria that must be met for revenue to be recognized in conformity with GAAP. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
This represents the noncurrent liability recognized in the balance sheet that is associated with the defined benefit pension plans. (The current liability will be separate, but it will normally be small, if there is even any at all.) Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Total of the carrying values as of the balance sheet date of obligations incurred through that date and payable for obligations related to services received from employees, such as accrued salaries and bonuses, payroll taxes and fringe benefits. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Carrying value as of the balance sheet date of [accrued] interest payable on all forms of debt, including trade payables, that has been incurred and is unpaid. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Carrying amount as of the balance sheet date of unearned revenue or income not otherwise specified in the taxonomy which is expected to be taken into income within one year or the normal operating cycle, if longer. No definition available.
|
X | ||||||||||
- Definition
Aggregate carrying amount, as of the balance sheet date, of current obligations not separately disclosed in the balance sheet due to materiality considerations. Current liabilities are expected to be paid within one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Aggregate carrying amount, as of the balance sheet date, of noncurrent obligations not separately disclosed in the balance sheet due to materiality considerations. Noncurrent liabilities are expected to be paid after one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Obligations not otherwise itemized or previously categorized that are due beyond one year (or operating cycle, if longer) from the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
This represents the noncurrent liability recognized in the balance sheet that is associated with other postretirement defined benefit plans (excluding pension plans). (The current liability will be separate, but it will normally be small, if there is even any at all.) Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Obligations not otherwise itemized or previously categorized that are due within one year or operating cycle, if longer, from the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Fair Value of Financial Instruments (Details) (USD $)
In Millions, unless otherwise specified |
Dec. 31, 2010
|
Dec. 31, 2009
|
---|---|---|
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract] | ||
Derivative financial instruments, assets | $ 17 | $ 5 |
Derivative financial instruments, liabilities | 13 | 5 |
Carrying Amount [Member]
|
||
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract] | ||
Short-term investments | 38 | |
Notes receivable | 115 | |
Notes receivable, current | 4 | |
Notes receivable, noncurrent | 111 | |
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract] | ||
Long-term debt, including current maturities | 10,271 | 10,534 |
Long-term debt of consolidated variable interest entities, including current maturities | 950 | 1,183 |
Fair Value [Member]
|
||
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract] | ||
TPDI Notes and Overseas Drilling Limited Loan Facility | 158 | 158 |
Long-term debt, including current maturities | 10,562 | 11,218 |
Long-term debt of consolidated variable interest entities, including current maturities | $ 964 | $ 1,178 |
X | ||||||||||
- Definition
Represents the portion of the balance sheet assertion valued at fair value by the entity whether such amount is presented as a separate caption, parenthetical disclosure or within the fair value disclosures required in the footnote disclosures to the financial statements. This item represents the aggregate carrying amount of long-term borrowings, including current and noncurrent portions, as of the balance sheet date. No definition available.
|
X | ||||||||||
- Definition
Represents the portion of the balance sheet assertion valued at fair value by the entity whether such amount is presented as a separate caption, parenthetical disclosure or within the fair value disclosures required in the footnote disclosures to the financial statements. This item represents the aggregate carrying amount of long-term borrowings of consolidated variable interest entities, including current and noncurrent portions, as of the balance sheet date. No definition available.
|
X | ||||||||||
- Definition
Represents the portion of the balance sheet assertion valued at fair value by the entity whether such amount is presented as a separate caption, parenthetical disclosure or within the fair value disclosures required in the footnote disclosures to the financial statements. This item represents an agreement for an unconditional promise by the maker to pay the Company (holder) a definite sum of money within one year from the balance sheet date (or the normal operating cycle, whichever is longer). No definition available.
|
X | ||||||||||
- Definition
Represents the portion of the balance sheet assertion valued at fair value by the entity whether such amount is presented as a separate caption, parenthetical disclosure or within the fair value disclosures required in the footnote disclosures to the financial statements. This item represents an agreement for an unconditional promise by the maker to pay the Company (holder) a definite sum of money at a future date more than one year from the balance sheet date. No definition available.
|
X | ||||||||||
- Definition
This element represents the portion of the balance sheet assertion valued at fair value by the entity whether such amount is presented as a separate caption, a parenthetical disclosure or in connection with the fair value disclosures required in the footnote disclosures to the financial statements. This item represents short-term investments as of the balance sheet date. No definition available.
|
X | ||||||||||
- Definition
This element represents the portion of the balance sheet assertion valued at fair value by the entity whether such amount is presented as a separate caption or as a parenthetical disclosure. Additionally, this element may be used in connection with the fair value disclosures required in the footnote disclosures to the financial statements. The element may be used in both the balance sheet and disclosure in the same submission. This item represents derivative financial instruments which the Company is a party to as of the balance sheet date. A derivative instrument is a financial instrument or other contract with all three of the following characteristics: (a) it has (1) one or more underlyings and (2) one or more notional amounts or payment provisions or both. Those terms determine the amount of the settlement or settlements, and, in some cases, whether or not a settlement is required; (b) it requires no initial net investment or an initial net investment that is smaller than would be required for other types of contracts that would be expected to have a similar response to changes in market factors; (c) its terms require or permit net settlement, it can readily be settled net by a means outside the contract, or it provides for delivery of an asset that puts the recipient in a position not substantially different from net settlement. Notwithstanding the forgoing characteristics, loan commitments that relate to the origination of mortgage loans that will be held for sale shall be accounted for as derivative instruments by the issuer of the loan commitment (that is, the potential lender). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
This element represents the portion of the balance sheet assertion valued at fair value by the entity whether such amount is presented as a separate caption or as a parenthetical disclosure. Additionally, this element may be used in connection with the fair value disclosures required in the footnote disclosures to the financial statements. The element may be used in both the balance sheet and disclosure in the same submission. This item represents derivative instrument obligations meeting the definition of a liability which should be reported as of the balance sheet date. A derivative instrument is a financial instrument or other contract with all three of the following characteristics: (a) it has (1) one or more underlyings and (2) one or more notional amounts or payment provisions or both. Those terms determine the amount of the settlement or settlements, and, in some cases, whether or not a settlement is required; (b) it requires no initial net investment or an initial net investment that is smaller than would be required for other types of contracts that would be expected to have a similar response to changes in market factors; (c) its terms require or permit net settlement, it can readily be settled net by a means outside the contract, or it provides for delivery of an asset that puts the recipient in a position not substantially different from net settlement. Notwithstanding the forgoing characteristics, loan commitments that relate to the origination of mortgage loans that will be held for sale shall be accounted for as derivative instruments by the issuer of the loan commitment (that is, the potential lender). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
This element represents the portion of the balance sheet assertion valued at fair value by the entity whether such amount is presented as a separate caption or as a parenthetical disclosure. Additionally, this element may be used in connection with the fair value disclosures required in the footnote disclosures to the financial statements. The element may be used in both the balance sheet and disclosure in the same submission. Fair value of Loans Payable at the balance sheet date. No definition available.
|
X | ||||||||||
- Definition
This element represents the portion of the balance sheet assertion valued at fair value by the entity whether such amount is presented as a separate caption or as a parenthetical disclosure. Additionally, this element may be used in connection with the fair value disclosures required in the footnote disclosures to the financial statements. The element may be used in both the balance sheet and disclosure in the same submission. An amount representing an agreement for an unconditional promise by the maker to pay the Company (holder) a definite sum of money at a future date(s). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Financial Instruments and Risk Concentration (Details)
|
Dec. 31, 2010
|
---|---|
Labor Agreements [Abstract] | |
Number of employees | 18,050 |
Number of employees engaged through contract labor providers | 1,950 |
Number of days of annual leave for offshore workers (in days) | 28 |
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Number of annual leave days employees entitled. No definition available.
|
X | ||||||||||
- Definition
Number of contract employees of entity at end of period No definition available.
|
X | ||||||||||
- Definition
Number of full time employee of entity at end of period No definition available.
|
Supplemental Cash Flow Information (Details) (USD $)
In Millions, except Per Share data, unless otherwise specified |
12 Months Ended | |||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2010
|
Dec. 31, 2009
|
Dec. 31, 2008
|
||||||||||
Supplemental Cash Flow [Line Items] | ||||||||||||
Impairment loss associated with proportional interest in the debt instruments of Lehman Holdings held by the funds | $ 1 | $ 16 | ||||||||||
Distributions received from fund | 37 | 296 | 58 | |||||||||
Aggregate investment in the Reserve Funds | 408 | |||||||||||
Changes in operating assets and liabilities[Abstract] | ||||||||||||
Decrease (increase) in accounts receivable | 386 | 504 | (501) | |||||||||
Increase in other current assets | (75) | (50) | (118) | |||||||||
Increase in other assets | (40) | (30) | (8) | |||||||||
Increase (decrease) in accounts payable and other current liabilities | 227 | (60) | 75 | |||||||||
Decrease in other long-term liabilities | (52) | (7) | (43) | |||||||||
Change in income taxes receivable / payable, net | (37) | 77 | 274 | |||||||||
Total changes in operating assets and liabilities | 409 | 434 | (321) | |||||||||
Certain cash operating activities[Abstract] | ||||||||||||
Cash payments for interest | 641 | 683 | 545 | |||||||||
Cash payments for income taxes | 493 | 663 | 461 | |||||||||
Non-cash investing and financing activities[Abstract] | ||||||||||||
Capital expenditures, accrued at end of period | 69 | [1] | 139 | [1] | 268 | [1] | ||||||
Asset capitalized under capital leases | 0 | [2] | 716 | [2] | 0 | [2] | ||||||
Non-cash proceeds received for the sale of assets | 134 | [3] | 0 | [3] | 0 | [3] | ||||||
Number of rigs sold | 2 | |||||||||||
Net cash proceeds received from the sale of two rigs | 38 | |||||||||||
Number of notes received from the sale of two rigs | 2 | |||||||||||
Aggregate face value of notes received | $ 165 | |||||||||||
The Reserve Primary Fund [Member]
|
||||||||||||
Supplemental Cash Flow [Line Items] | ||||||||||||
Net asset value per share (in dollars per share) | $ 1.00000000 | |||||||||||
The Reserve International Liquidity Fund Ltd. [Member]
|
||||||||||||
Supplemental Cash Flow [Line Items] | ||||||||||||
Net asset value per share (in dollars per share) | $ 1.00 | |||||||||||
|
X | ||||||||||
- Definition
Aggregate face value of notes received No definition available.
|
X | ||||||||||
- Definition
Aggregate investment in the Reserve Funds at the time of the announcements. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Change in recurring obligations of a business that arise from the acquisition of merchandise, materials, supplies and services used in the production and sale of goods and services and the net change during the reporting period in other operating obligations not otherwise defined in the taxonomy. No definition available.
|
X | ||||||||||
- Definition
The net change during the reporting period in long-term liabilities. No definition available.
|
X | ||||||||||
- Definition
The net change during the reporting period in other current assets. No definition available.
|
X | ||||||||||
- Definition
The net asset value per share to be maintained by certain funds, including The Reserve Primary Fund and The Reserve International Fund Ltd. No definition available.
|
X | ||||||||||
- Definition
Net cash proceeds received from the sale of two rigs No definition available.
|
X | ||||||||||
- Definition
Number of notes received from the sale of two rigs No definition available.
|
X | ||||||||||
- Definition
Number of rigs sold. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Future cash outflow to pay for purchases of fixed assets that have occurred. No definition available.
|
X | ||||||||||
- Definition
The increase during the period in capital lease obligations due to entering into new capital leases. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The fair value of assets acquired in noncash investing or financing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
This element represents the amount by which the carrying amount exceeds the fair value of the investment. The amount is charged to income if the decline in fair value is deemed to be other than temporary. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The amount of cash paid during the current period to foreign, federal, state, and local authorities as taxes on income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The net change during the reporting period in amount due within one year (or one business cycle) from customers for the credit sale of goods and services. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The net change during the reporting period in income taxes receivable, which represents the amount due from tax authorities for refunds of overpayments or recoveries of income taxes paid. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The net change during the reporting period of all current assets and liabilities used in operating activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The net change during the reporting period in other operating assets not otherwise defined in the taxonomy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The amount of cash paid during the current period for interest owed on money borrowed; includes amount of interest capitalized Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The cash inflow from securities or other assets sold, having ready marketability and intended by management to be liquidated, if necessary, within the current operating cycle. Includes cash flows from securities classified as trading securities that were acquired for reasons other than sale in the short-term. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
Segments, Geographical Analysis and Major Customers (Details) (USD $)
In Millions, unless otherwise specified |
12 Months Ended | |||||||||
---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2010
|
Dec. 31, 2009
|
Dec. 31, 2008
|
||||||||
Notes to Financial Statements [Abstract] | ||||||||||
Number of reportable segments | 2 | |||||||||
Entity-Wide Disclosure on Geographic Areas, Revenue from External Customers Attributed to Individual Foreign Countries [Line Items] | ||||||||||
Operating revenues | $ 9,576 | [1] | $ 11,556 | [1] | $ 12,674 | [1] | ||||
Entity-Wide Disclosure on Geographic Areas, Long-Lived Assets in Individual Foreign Countries [Line Items] | ||||||||||
Long lived assets | 21,458 | 23,018 | ||||||||
Threshold for disclosing operating revenues or long-lived assets by individual country | 10.00% | 10.00% | 10.00% | |||||||
Long-lived assets in Switzerland | 15 | 19 | ||||||||
BP [Member]
|
||||||||||
Entity-Wide Revenue, Major Customer [Line Items] | ||||||||||
Percent of operating revenues from major customer (in hundredths) | 10.00% | 12.00% | 11.00% | |||||||
United States [Member]
|
||||||||||
Entity-Wide Disclosure on Geographic Areas, Long-Lived Assets in Individual Foreign Countries [Line Items] | ||||||||||
Long lived assets | 5,573 | 6,203 | ||||||||
Brazil [Member]
|
||||||||||
Entity-Wide Disclosure on Geographic Areas, Long-Lived Assets in Individual Foreign Countries [Line Items] | ||||||||||
Long lived assets | 2,472 | 1,433 | ||||||||
India [Member]
|
||||||||||
Entity-Wide Disclosure on Geographic Areas, Long-Lived Assets in Individual Foreign Countries [Line Items] | ||||||||||
Long lived assets | 2,632 | 1,358 | ||||||||
Other Countries [Member]
|
||||||||||
Entity-Wide Disclosure on Geographic Areas, Long-Lived Assets in Individual Foreign Countries [Line Items] | ||||||||||
Long lived assets | 9,961 | [2] | 10,896 | [2] | ||||||
South Korea [Member]
|
||||||||||
Entity-Wide Disclosure on Geographic Areas, Long-Lived Assets in Individual Foreign Countries [Line Items] | ||||||||||
Long lived assets | 820 | 3,128 | ||||||||
United States [Member]
|
||||||||||
Entity-Wide Disclosure on Geographic Areas, Revenue from External Customers Attributed to Individual Foreign Countries [Line Items] | ||||||||||
Operating revenues | 2,117 | 2,239 | 2,578 | |||||||
Brazil [Member]
|
||||||||||
Entity-Wide Disclosure on Geographic Areas, Revenue from External Customers Attributed to Individual Foreign Countries [Line Items] | ||||||||||
Operating revenues | 1,288 | 1,108 | 547 | |||||||
United Kingdom [Member]
|
||||||||||
Entity-Wide Disclosure on Geographic Areas, Revenue from External Customers Attributed to Individual Foreign Countries [Line Items] | ||||||||||
Operating revenues | 1,183 | 1,563 | 2,012 | |||||||
India [Member]
|
||||||||||
Entity-Wide Disclosure on Geographic Areas, Revenue from External Customers Attributed to Individual Foreign Countries [Line Items] | ||||||||||
Operating revenues | 828 | 1,084 | 890 | |||||||
Other Countries [Member]
|
||||||||||
Entity-Wide Disclosure on Geographic Areas, Revenue from External Customers Attributed to Individual Foreign Countries [Line Items] | ||||||||||
Operating revenues | $ 4,160 | $ 5,562 | $ 6,647 | |||||||
|
X | ||||||||||
- Definition
Percentage of operating revenues generated from a single external customer that accounts for 10 percent or more of an entity's operating revenues. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
This element represents the number of reportable segments. No definition available.
|
X | ||||||||||
- Definition
The threshold for disclosing operating revenues or long-lived assets by individual country. No definition available.
|
X | ||||||||||
- Definition
Amount of long-lived assets other than financial instruments, long-term customer relationships of a financial institution, mortgage and other servicing rights, deferred policy acquisition costs, and deferred tax assets, located in the entity's country of domicile. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of long-lived assets other than financial instruments, long-term customer relationships of a financial institution, mortgage and other servicing rights, deferred policy acquisition costs, and deferred tax assets located in foreign countries. An entity also may provide subtotals of geographic information about groups of countries; accordingly, this element also may be used to provide the amount of such long-lived assets for a group of countries. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Amount of revenue from external customers attributed to an individual foreign country from which revenue is material. An entity also may provide subtotals of geographic information about groups of countries. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
Related Party Transactions (Details) (USD $)
In Millions, unless otherwise specified |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2010
|
Dec. 31, 2009
|
Dec. 31, 2008
|
|
Pacific Drilling Limited [Member]
|
|||
Related Party Transactions [Line Items] | |||
Ownership interest in joint venture (in hundredths) | 50.00% | ||
Name of joint venture company | TPDI | ||
Aggregate outstanding principal amount of TPDI notes | $ 296 | $ 296 | |
Oustanding balance of aggregate commitment of subidiary in TPDI notes | 148 | 148 | |
Angco Cayman Limited [Member]
|
|||
Related Party Transactions [Line Items] | |||
Ownership interest in joint venture (in hundredths) | 65.00% | ||
Name of joint venture company | ADDCL | ||
Overseas Drilling Limited [Member]
|
|||
Related Party Transactions [Line Items] | |||
Ownership interest in joint venture (in hundredths) | 50.00% | ||
Name of joint venture company | ODL | ||
Revenue from operational and management services | 2 | 2 | 2 |
Loan facility, maximum borrowing capacity | 10 | ||
Loan facility, amount outstanding | $ 10 | $ 10 | |
Loan facility repayment, number of business days from written notice | five business days |
X | ||||||||||
- Definition
Amount borrowed under the credit facility as of the balance-sheet date. No definition available.
|
X | ||||||||||
- Definition
Maximum borrowing capacity under the credit facility without consideration of any current restrictions on the amount that could be borrowed or the amounts currently outstanding under the facility. No definition available.
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X | ||||||||||
- Definition
The number of business days after written notice during which payment of outstanding balance under credit facility must be received. No definition available.
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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X | ||||||||||
- Definition
Amount of outstanding principal due under the debt instrument at the end of the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The percentage of ownership of common stock or equity participation in the investee accounted for under the equity method of accounting. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Revenue, comprised of base and incentive revenue derived from the management of joint ventures, managing third-party properties, or another entity's operations. No definition available.
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X | ||||||||||
- Definition
The amount for notes payable (written promise to pay), payable to related parties, which are due after one year (or one business cycle). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Details
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Quarterly Results (Details) (USD $)
In Millions, except Per Share data, unless otherwise specified |
3 Months Ended | 12 Months Ended | |||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2010
|
Sep. 30, 2010
|
Jun. 30, 2010
|
Mar. 31, 2010
|
Dec. 31, 2009
|
Sep. 30, 2009
|
Jun. 30, 2009
|
Mar. 31, 2009
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Dec. 31, 2010
|
Dec. 31, 2009
|
Dec. 31, 2008
|
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Quarterly financial data [Abstract] | |||||||||||||||||||||
Operating revenues | $ 2,160 | $ 2,309 | $ 2,505 | $ 2,602 | $ 2,733 | $ 2,823 | $ 2,882 | $ 3,118 | $ 9,576 | $ 11,556 | $ 12,674 | ||||||||||
Operating income (loss) | (662) | [1] | 645 | 957 | [1] | 926 | [1] | 1,003 | 957 | [2] | 1,121 | [2] | 1,319 | [2] | 1,866 | 4,400 | 5,357 | ||||
Net income (loss) attributable to controlling interest | (799) | [1] | 368 | 715 | [1] | 677 | [1] | 723 | 710 | [2] | 806 | [2] | 942 | [2] | 961 | 3,181 | 4,031 | ||||
Earnings (loss) per share [Abstract] | |||||||||||||||||||||
Basic (in dollars per share) | $ (2.51) | $ 1.15 | $ 2.23 | $ 2.10 | $ 2.24 | $ 2.20 | $ 2.50 | $ 2.94 | $ 2.99 | $ 9.87 | $ 12.63 | ||||||||||
Diluted (in dollars per share) | $ (2.51) | $ 1.15 | $ 2.22 | $ 2.09 | $ 2.24 | $ 2.19 | $ 2.49 | $ 2.93 | $ 2.99 | $ 9.84 | $ 12.53 | ||||||||||
Weighted average shares outstanding [Abstract] | |||||||||||||||||||||
Basic (in shares) | 319 | 319 | 319 | 321 | 321 | 321 | 320 | 319 | 320 | 320 | 318 | ||||||||||
Diluted (in shares) | 319 | 319 | 320 | 322 | 322 | 322 | 321 | 320 | 320 | 321 | 321 | ||||||||||
(Gain) loss on impairment | 1,000 | (267) | 2 | 46 | 67 | 221 | 1,012 | 334 | 320 | ||||||||||||
Settlement charges related to litigation matters | $ 132 | ||||||||||||||||||||
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X | ||||||||||
- Definition
The charge against earnings resulting from the aggregate write down of all assets from their carrying value to their fair value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Details
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X | ||||||||||
- Definition
The amount of net income or loss for the period per each share of common stock outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The amount of net income or loss for the period per each share of common stock and dilutive common stock equivalents outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
This element represents the gross amount awarded, to be received by, or to be remitted to the entity in settlement of litigation occurring during the period. No definition available.
|
X | ||||||||||
- Definition
The portion of consolidated profit or loss for the period, net of income taxes, which is attributable to the parent. If the entity does not present consolidated financial statements, the amount of profit or loss for the period, net of income taxes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The net result for the period of deducting operating expenses from operating revenues. No definition available.
|
X | ||||||||||
- Details
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X | ||||||||||
- Definition
Aggregate revenue recognized during the period (derived from goods sold, services rendered, insurance premiums, or other activities that constitute an entity's earning process). For financial services companies, also includes investment and interest income, and sales and trading gains. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The average number of shares issued and outstanding that are used in calculating diluted EPS, determined based on the timing of issuance of shares in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Number of [basic] shares, after adjustment for contingently issuable shares and other shares not deemed outstanding, determined by relating the portion of time within a reporting period that common shares have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Subsequent Events (Details) (USD $)
In Millions, unless otherwise specified |
1 Months Ended | ||
---|---|---|---|
Jan. 31, 2011
Redemption of Senior Notes [Member]
|
Feb. 09, 2011
Sale of Long-Lived Assets [Member]
|
Feb. 11, 2011
Contingent Dividend Proposed [Member]
|
|
Subsequent Event [Line Items] | |||
Date of subsequent event | Jan. 31, 2011 | Feb. 11, 2011 | |
Description of subsequent event | Aggregate cash payment made to redeem the remaining aggregate principal amount of Series A Convertible Senior Notes | Net cash proceeds received from completion of the sale of the High-Specification Jackup Trident 20 | Amount of dividend recommended by the board of directors contingent upon shareholders' approval of both the current year distribution and the rescission of the prior year distribution |
Amount related to subsequent event | $ 11 | $ (262) | $ 1,000 |
Number of quarterly installments for payment of dividend | 4 |
X | ||||||||||
- Definition
The number of quarterly installments in which dividend payments will be made if the contingent proposed dividend is ultimately declared and paid. No definition available.
|
X | ||||||||||
- Definition
Reflects the known or estimated financial effect of the event, or transaction that occurred between the balance sheet date and the date the financial statements are issued. If an estimate cannot be made, that fact shall be disclosed. No definition available.
|
X | ||||||||||
- Definition
Date of subsequent event occurrence or of indication that subsequent event occurred. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Describes the event or transaction that occurred between the balance sheet date and the date the financial statements are issued. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
Valuation and Qualifying Accounts (Details) (USD $)
In Millions, unless otherwise specified |
12 Months Ended | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2010
|
Dec. 31, 2009
|
Dec. 31, 2008
|
||||||||||||
Reserve and allowances deducted from asset accounts: [Rollforward] | ||||||||||||||
Portion of deductions related to sale of rigs and inventory | $ 1 | |||||||||||||
Portion of deductions related to loss of Deepwater Horizon | 1 | |||||||||||||
Allowance for Doubtful Accounts Receivable [Member]
|
||||||||||||||
Reserve and allowances deducted from asset accounts: [Rollforward] | ||||||||||||||
Balance at beginning of period | 65 | 114 | 50 | |||||||||||
Charge to cost and expenses | 5 | 27 | 95 | |||||||||||
Charge to other accounts | 0 | 0 | 0 | |||||||||||
Deductions | 32 | [1] | 76 | [1] | 31 | [1] | ||||||||
Balance at end of period | 38 | 65 | 114 | |||||||||||
Allowance for Obsolete Materials And Supplies [Member]
|
||||||||||||||
Reserve and allowances deducted from asset accounts: [Rollforward] | ||||||||||||||
Balance at beginning of period | 66 | 49 | 22 | |||||||||||
Charge to cost and expenses | 6 | 17 | 27 | |||||||||||
Charge to other accounts | 0 | 0 | 0 | |||||||||||
Deductions | 2 | [2] | 0 | 0 | ||||||||||
Balance at end of period | 70 | 66 | 49 | |||||||||||
Valuation Allowance on Deferred Tax Assets [Member]
|
||||||||||||||
Reserve and allowances deducted from asset accounts: [Rollforward] | ||||||||||||||
Balance at beginning of period | 98 | 52 | 58 | |||||||||||
Charge to cost and expenses | 0 | 46 | 4 | |||||||||||
Charge to other accounts | 0 | 0 | 0 | |||||||||||
Deductions | 4 | [3] | 0 | 10 | [4] | |||||||||
Balance at end of period | $ 94 | $ 98 | $ 52 | |||||||||||
|
X | ||||||||||
- Definition
The portion of the deductions that is related to the loss of an Ultra-Deepwater Floater during the period. No definition available.
|
X | ||||||||||
- Definition
The portion of the deductions that is related to the sale of rigs and inventory during the period. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Total of allowances and reserves, the valuation and qualifying accounts that are either netted against the cost of an asset (in order to value it at its carrying value) or that reflect a liability established to represent expected future costs Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Total of allowances and reserves, the valuation and qualifying accounts that are either netted against the cost of an asset (in order to value it at its carrying value) or that reflect a liability established to represent expected future costs, charged to costs and expenses. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Total of allowances and reserves, the valuation and qualifying accounts that are either netted against the cost of an asset (in order to value it at its carrying value) or that reflect a liability established to represent expected future costs, charged to accounts other than costs and expenses in a given period Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Total of the deductions in a given period to allowances and reserves, the valuation and qualifying accounts that are either netted against the cost of an asset (in order to value it at its carrying value) or that reflect a liability established to represent expected future costs, representing receivables written off as uncollectible and portions of the reserves utilized, respectively. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|