XML 51 R32.htm IDEA: XBRL DOCUMENT v3.20.2
Revenue and Customers (Tables)
9 Months Ended
Sep. 30, 2020
Revenue from Contract with Customer [Abstract]  
Schedule of Contract Assets and Contract Liabilities
The following table provides information about contract assets and contract liabilities from contracts with customers:
 
 
September 30, 2020
 
December 31, 2019
Current contract assets
 
$
10,791

 
$
21,292

Noncurrent contract assets
 
4,638

 
9,508

Total contract assets
 
15,429

 
30,800

 
 
 
 
 
Current contract liabilities (deferred revenue)
 
(36,045
)
 
(34,196
)
Noncurrent contract liabilities (deferred revenue)
 
(24,002
)
 
(30,859
)
Total contract liabilities
 
$
(60,047
)
 
$
(65,055
)
Significant changes in the remaining performance obligation contract assets and the contract liabilities balances for the nine months ended September 30, 2020 and 2019 are as follows:
 
 
Contract Assets
 
Contract Liabilities
Net balance at December 31, 2018
 
$
47,664

 
$
(80,753
)
 
 
 
 
 
Amortization of deferred costs
 
(22,985
)
 

Additions to deferred costs
 
16,984

 

Amortization of deferred revenue
 

 
38,255

Additions to deferred revenue
 

 
(28,521
)
Total
 
(6,001
)
 
9,734

 
 
 
 
 
Net balance at September 30, 2019
 
$
41,663

 
$
(71,019
)
 
 
 
 
 
Net balance at December 31, 2019
 
$
30,800

 
$
(65,055
)
 
 
 
 
 
Amortization of deferred costs
 
(22,736
)
 

Additions to deferred costs
 
7,365

 

Amortization of deferred revenue
 

 
46,523

Additions to deferred revenue
 

 
(41,515
)
Total
 
(15,371
)
 
5,008

 
 
 
 
 
Net balance at September 30, 2020
 
$
15,429

 
$
(60,047
)

Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction
The following table reflects revenue expected to be recognized in the future related to unsatisfied performance obligations, by rig type, as of September 30, 2020:    
 
 
For the Years Ended December 31,
 
 
2020 (1)
 
2021
 
2022
 
2023
 
2024 and beyond
 
Total
Floaters
 
$
6,773

 
$
23,248

 
$
10,161

 
$
5,866

 
$
375

 
$
46,423

Jackups
 
4,657

 
7,227

 
1,740

 

 

 
13,624

Total
 
$
11,430

 
$
30,475

 
$
11,901

 
$
5,866

 
$
375

 
$
60,047


(1) Represents a three-month period beginning October 1, 2020
Disaggregation of Revenue by Rig Types
The following table provides information about contract drilling revenue by rig types:
 
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
 
2020
 
2019
 
2020
 
2019
Floaters
 
$
127,286

 
$
131,039

 
$
367,304

 
$
428,272

Jackups
 
99,764

 
128,389

 
347,251

 
376,474

Total
 
$
227,050

 
$
259,428

 
$
714,555

 
$
804,746