Supplemental Financial Information

12 Months Ended

Dec. 31, 2019

Organization Consolidation And Presentation Of Financial Statements [Abstract]

4. Supplemental Financial Information

Consolidated Balance Sheets Information

Accounts receivable, net of allowance for bad debts, consists of the following (in thousands):

	December 31,
	2019			2018
Trade receivables	$	199,572		$	160,478
Federal income tax receivable		38,574			—
Value added tax receivables		17,716			13,237
Related party receivables		166			174
Other		287			190
		256,315			174,079
Allowance for bad debts		(5,459	)		(5,459	)
Total	$	250,856		$	168,620

There was no change in our provision for bad debts for each of the years ended December 31, 2019, 2018 and 2017. See Note 7 for a discussion of our policy regarding uncollectible accounts.

Prepaid expenses and other current assets consist of the following (in thousands):

	December 31,
	2019		2018
Deferred contract costs	$	20,019	$	70,021
Rig spare parts and supplies		18,250		20,256
Prepaid taxes		12,475		54,412
Current contract assets		6,314		6,832
Prepaid rig costs		2,990		5,247
Prepaid insurance		2,892		2,742
Prepaid software costs		2,319		1,531
Other		3,399		2,355
Total	$	68,658	$	163,396

Accrued liabilities consist of the following (in thousands):

	December 31,
	2019		2018
Accrued capital project/upgrade costs	$	56,603	$	37,379
Payroll and benefits		42,494		47,564
Rig operating expenses		37,969		42,323
Interest payable		28,234		28,234
Current operating lease liability ⁽¹⁾		20,030		—
Deferred revenue		9,573		2,803
Personal injury and other claims		7,074		5,544
Shorebase and administrative costs		5,275		6,217
Other		3,528		2,164
Total	$	210,780	$	172,228

⁽¹⁾

We adopted ASU 2016-02 effective January 1, 2019, which required us to recognize a right of use asset and a lease liability on the balance sheet for most leases. See Note 11.

Consolidated Statements of Cash Flows Information

Noncash investing activities excluded from the Consolidated Statements of Cash Flows and other supplemental cash flow information is as follows (in thousands):

	December 31,
	2019			2018			2017
Accrued but unpaid capital expenditures at period end	$	56,603		$	37,234		$	3,698
Common stock withheld for payroll tax obligations⁽¹⁾		1,398			1,301			483
Cash interest payments		113,063			113,063			97,096
Cash income taxes paid (refunded), net:
Foreign		17,821			9,286			43,999
U.S. federal		1,001			(7,389	)		—
State		(15	)		2			94

(1)

Represents the cost of 132,547, 87,799 and 29,416 shares of common stock withheld to satisfy the payroll tax obligation incurred as a result of the vesting of restricted stock units in 2019, 2018 and 2017, respectively. These costs are presented as a deduction from stockholders’ equity in “Treasury stock” in our Consolidated Balance Sheets at December 31, 2019, 2018 and 2017, respectively.