XML 152 R85.htm IDEA: XBRL DOCUMENT v3.20.1
Fresh Start Accounting - Additional Information (Details) - USD ($)
6 Months Ended 12 Months Ended
Jul. 02, 2018
Jul. 01, 2018
Dec. 31, 2018
Jul. 01, 2018
Dec. 31, 2019
Dec. 31, 2017
Apr. 17, 2018
Feb. 26, 2018
Dec. 31, 2016
Fresh-Start Adjustment [Line Items]                  
Distributable value $ 11,056,000,000           $ 11,000,000,000    
WACC 11.40%       11.00%        
Debt, fair value $ 7,301,000,000                
Debt, book value $ 7,600,000,000                
Common stock, shares issued (in shares) 100,000,000 508,763,020 100,000,000 508,763,020 100,234,973 508,763,020,000,000     508,763,020,000,000
Per share value (in dollars per share) $ 35.01                
Write-off of unamortized debt issuance costs     $ 0 $ 0 $ 0 $ 66,000,000      
Minimum | Plan                  
Fresh-Start Adjustment [Line Items]                  
Distributable value               $ 10,200,000,000  
Maximum | Plan                  
Fresh-Start Adjustment [Line Items]                  
Distributable value               $ 11,800,000,000  
Senior secured notes | Secured Debt                  
Fresh-Start Adjustment [Line Items]                  
Debt, fair value $ 890,000,000                
Proceeds from issuance 875,000,000                
Debt, face amount 880,000,000                
Interest accrual 5,000,000                
Write-off of unamortized debt issuance costs $ 9,000,000                
Commitment Parties (in exchange for cash paid pursuant to the Investment Agreement) and Equity Rights Offering Subscribers                  
Fresh-Start Adjustment [Line Items]                  
Common stock, shares issued (in shares) 23,750,000                
Common stock, price per share (in dollars per share) $ 8.42                
Recipients of Senior Secured Notes (including Commitment Parties and Notes Rights Offering Subscribers)                  
Fresh-Start Adjustment [Line Items]                  
Common stock, shares issued (in shares) 54,625,000                
Holders of General Unsecured Claims                  
Fresh-Start Adjustment [Line Items]                  
Common stock, shares issued (in shares) 14,250,000                
Former Holders of Old Seadrill Limited Equity and Seadrill Limited 510(b) Claimants                  
Fresh-Start Adjustment [Line Items]                  
Common stock, shares issued (in shares) 1,900,000                
Hemen (on account of Primary Structuring Fee)                  
Fresh-Start Adjustment [Line Items]                  
Common stock, shares issued (in shares) 5,000,000                
Seadrill Capricorn Holdings LLC                  
Fresh-Start Adjustment [Line Items]                  
WACC 11.40%                
Fresh Start Adjustments                  
Fresh-Start Adjustment [Line Items]                  
Adjustments, increase (decrease), Amount due from related parties - current   $ 14,000,000   14,000,000          
Deferred mobilization cost, current   9,000,000   9,000,000          
Favorable drilling contracts, current   190,000,000   190,000,000          
Adjustments, increase (decrease), Amount due from related parties - non-current   11,000,000   11,000,000          
Embedded derivative   2,000,000              
Deferred mobilization, noncurrent   2,000,000   2,000,000          
Favorable contracts, unamortized   1,000,000   1,000,000          
Favorable drilling and management service, noncurrent   98,000,000   98,000,000          
Short term portion of deferred mobilization revenues   27,000,000   27,000,000          
Accrued interest expense   59,000,000   59,000,000          
Deferred mobilization revenues   7,000,000   7,000,000          
Unfavorable drilling contracts   9,000,000   9,000,000          
Fresh Start Adjustments | Secured Debt                  
Fresh-Start Adjustment [Line Items]                  
Debt discount   188,000,000   188,000,000          
Fresh Start Adjustments | Senior secured notes | Secured Debt                  
Fresh-Start Adjustment [Line Items]                  
Write-off of unamortized debt issuance costs   51,000,000              
Fresh Start Adjustments | Seadrill Partners LLC | West Vela                  
Fresh-Start Adjustment [Line Items]                  
Adjustments, increase (decrease), Amount due from related parties - current   14,000,000   14,000,000          
Fresh Start Adjustments | Seadrill Partners LLC | West Vela and West Polaris                  
Fresh-Start Adjustment [Line Items]                  
Adjustments, increase (decrease), Amount due from related parties - non-current   17,000,000   17,000,000          
Fresh Start Adjustments | Seabras Sapura                  
Fresh-Start Adjustment [Line Items]                  
Adjustments, increase (decrease), Amount due from related parties - non-current   $ (3,000,000)   $ (3,000,000)          
Income Approach                  
Fresh-Start Adjustment [Line Items]                  
Debt, fair value $ 7,300,000,000