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Derivative Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2011

Derivative Financial Instruments [Abstract]

Amounts recognized in our consolidated statements of operations related to our FOREX contracts designated as accounting hedges


		Amount of Gain Recognized in Income
		For the Years Ended December 31,
Location of Gain Recognized in Income		2011				2010				2009

		(In thousands)
Contract drilling expense		$	7,206			$	3,307			$	8,895

Amounts recognized in our Consolidated Statements of Operations related to our FOREX contracts not designated as hedging instruments


		Amount of Gain Recognized in Income
		For the Years Ended December 31,
Location of Gain Recognized in Income		2011				2010				2009

		(In thousands)
Foreign currency transaction gain (loss)		$	—			$	—			$	8,856

Fair values of our derivative financial instruments


Balance Sheet Location		Fair Value								Balance Sheet Location		Fair Value
		December 31, 2011				December 31, 2010						December 31, 2011				December 31, 2010

		(In thousands)										(In thousands)
Prepaid expenses and other current assets		$	1,262			$	4,326			Accrued liabilities		$	(8,454	)		$	(121)

Amounts recognized in our Consolidated Balance Sheets and Consolidated Statements of Operations related to our FOREX contracts designated as cash flow hedges


		For the years ended December 31,
		2011				2010				2009
		(In thousands)
Amount of (loss) gain recognized in AOCGL on derivative (effective portion)		$	(962	)		$	3,591			$	9,838
Location of gain reclassified from AOCGL into income (effective portion)			Contract drilling, excluding depreciation				Contract drilling, excluding depreciation				Contract drilling, excluding depreciation
Amount of gain reclassified from AOCGL into income (effective portion)		$	10,351			$	1,790			$	7,434
Location of loss recognized in income on derivative (ineffective portion and amount excluded from effectiveness testing)			Foreign currency transaction gain (loss)				Foreign currency transaction gain (loss)				Foreign currency transaction gain (loss)
Amount of loss recognized in income on derivative (ineffective portion and amount excluded from effectiveness testing)		$	(85	)		$	—			$	—

Tabular disclosure of the location and amount of gains and losses reported in the statement of financial performance, or when applicable, the statement of financial position. For example, (a) gains and losses recognized in the income statement on derivative instruments designated and qualifying as hedging instruments in fair value hedges and related hedged items designated and qualifying in fair value hedges and (b) gains and losses initially recognized in other comprehensive income on derivative instruments designated and qualifying as cash flow hedges.

+ References+ Details

Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position.

+ References+ Details