Segment information (Tables)

12 Months Ended

Dec. 31, 2012

Segment information [Abstract]

Segment results

Segment results are evaluated on the basis of operating revenues, and the information given below is based on information used for internal management reporting. The accounting principles for the segments are the same as for our consolidated financial statements.

Revenues (excluding gain on sale of drilling units)

(In US$ millions)	2012		2011		2010
Floaters		2,859		2,694		2,264
Jack-up rigs		861		776		578
Tender Rigs		758		589		482
Well Services		-		133		717
Total		4,478		4,192		4,041

Depreciation and amortization

(In US$ millions)	2012		2011		2010
Floaters		412		358		301
Jack-up rigs		146		135		99
Tender Rigs		57		63		57
Well Services		-		7		23
Total		615		563		480

Operating Income – net income

(In US$ millions)	2012			2011			2010
Floaters		1,250			1,328			1,140
Jack-up Rigs		225			220			199
Tender Rigs		316			221			222
Well Services		-			5			64
Operating income		1,791			1,774			1,625
Unallocated items:
Total financial items		(354	)		(103	)		(294	)
Income taxes		(232	)		(189	)		(159	)
Net income		1,205			1,482			1,172

Total assets

(In US$ millions)	2012		2011
Floaters		13,725		12,600
Jack-up Rigs		4,210		4,200
Tender Rigs		1,697		1,504
Total		19,632		18,304

Goodwill

(In US$ millions)	2012		2011
Floaters		890		890
Jack-up Rigs		281		281
Tender Rigs		149		149
Total		1,320		1,320

As a consequence of the change in segment structure from 2011, the Goodwill has been reassigned to the reporting units affected using a relative fair value allocation approach.

Total liabilities

(In US$ millions)	2012		2011
Floaters		9,514		8,274
Jack-up Rigs		2,918		2,745
Tender Rigs		1,176		983
Total		13,608		12,002

Capital expenditures – fixed assets

(In US$ millions)	2012		2011		2010
Floaters		1,342		1,805		1,330
Jack-up Rigs		150		495		877
Tender Rigs		198		243		134
Well Services		-		-		27
Total		1,690		2,543		2,368

Company's revenues and fixed assets by geographic area

Geographic segment data

Revenues are attributed to geographical segments based on the country of operations for drilling activities, i.e. the country where the revenues are generated. The following presents the Company's revenues and fixed assets by geographic area:

Revenues (excluding gain on sale of assets)

(In US$ millions)	2012		2011		2010
Norway		815		966		1,393
UK		230		56		151
Brunei		95		54		66
Thailand		310		303		165
Malaysia		226		207		62
Congo		2		-		37
Nigeria		419		235		204
Canada		66		-		-
USA		260		202		186
Brazil		629		913		710
China		183		299		230
Indonesia		92		130		159
Philippines		-		-		109
Vietnam		180		157		150
Angola		358		337		182
Red Sea		-		-		68
Trinidad & Tobago		83		41		-
Ghana		122		-		-
Saudi Arabia/Kuwait		146		127		69
Mexico		137		49		-
Other		125		116		100
Total		4,478		4,192		4,041

Fixed assets – operating drilling units (1)

(In US$ millions)	2012		2011
Norway		1,868		2,007
UK		1,112		-
Brunei		197		38
Thailand		354		605
Malaysia		690		333
Congo		161		-
Nigeria		1,148		1,191
Canada		546		-
USA		1,296		496
Brazil		1,714		2,096
China		-		1,091
Indonesia		99		321
Vietnam		337		336
Angola		945		979
Trinidad & Tobago		252		424
Ghana		655
Saudi Arabia		661		331
Mexico		593		605
Other		267		370
Total		12,894		11,223

(1) The fixed assets referred to in the table are the Company's operating drilling units. Asset locations at the end of a period are not necessarily indicative of the geographic distribution of the revenues or operating profits generated by such assets during such period.