Transocean Ltd. Files Q2 2024 10-Q
Ticker: RIG · Form: 10-Q · Filed: Aug 1, 2024 · CIK: 1451505
Sentiment: neutral
Topics: 10-Q, financials, oil-gas
TL;DR
Transocean's Q2 2024 10-Q is in. Check financials.
AI Summary
Transocean Ltd. filed its 10-Q for the period ending June 30, 2024. The company's fiscal year ends on December 31st. Key financial data points and reporting periods are detailed within the filing, which is part of the 1934 Act filings.
Why It Matters
This filing provides investors and analysts with the latest financial performance and operational details for Transocean Ltd., crucial for understanding the company's current standing in the oil and gas drilling sector.
Risk Assessment
Risk Level: medium — 10-Q filings are standard financial reports, but the oil and gas sector can be volatile.
Key Numbers
- 20240630 — Period End Date (Indicates the end of the reporting quarter)
- 20240801 — Filing Date (Date the report was submitted to the SEC)
Key Players & Entities
- Transocean Ltd. (company) — Filer of the 10-Q
- 20240630 (date) — End of the reporting period
- 20240801 (date) — Filing date
- 1934 Act (legal_act) — Securities Exchange Act under which the filing is made
FAQ
What is the primary business of Transocean Ltd. according to the SIC code?
Transocean Ltd.'s Standard Industrial Classification (SIC) code is 1381, which corresponds to 'DRILLING OIL & GAS WELLS'.
What is the SEC file number for Transocean Ltd.'s filings?
The SEC file number for Transocean Ltd. is 001-38373.
In which state was Transocean Ltd. incorporated?
Transocean Ltd. was incorporated in V8.
What is the fiscal year end for Transocean Ltd.?
Transocean Ltd.'s fiscal year ends on December 31st.
What is the business address of Transocean Ltd.?
The business address for Transocean Ltd. is Turmstrasse 30, Steinhausen, V8, 6312.
Filing Stats: 4,736 words · 19 min read · ~16 pages · Grade level 17 · Accepted 2024-08-01 16:21:50
Key Financial Figures
- $0.10 — exchange on which registered Shares , $0.10 par value RIG New York Stock Exchang
Filing Documents
- rig-20240630x10q.htm (10-Q) — 2191KB
- rig-20240630xex4d3.htm (EX-4.3) — 95KB
- rig-20240630xex31d1.htm (EX-31.1) — 9KB
- rig-20240630xex31d2.htm (EX-31.2) — 9KB
- rig-20240630xex32d1.htm (EX-32.1) — 6KB
- rig-20240630xex32d2.htm (EX-32.2) — 6KB
- rig-20240630x10q003.jpg (GRAPHIC) — 5KB
- 0001451505-24-000114.txt ( ) — 8598KB
- rig-20240630.xsd (EX-101.SCH) — 41KB
- rig-20240630_cal.xml (EX-101.CAL) — 57KB
- rig-20240630_def.xml (EX-101.DEF) — 239KB
- rig-20240630_lab.xml (EX-101.LAB) — 390KB
- rig-20240630_pre.xml (EX-101.PRE) — 307KB
- rig-20240630x10q_htm.xml (XML) — 1673KB
FINANCIAL INFORMATION
Part I. FINANCIAL INFORMATION Item 1.
Financial Statements (Unaudited)
Financial Statements (Unaudited) Condensed Consolidated Statements of Operations 1 Condensed Consolidated Statements of Comprehensive I ncome ( Loss ) 2 Condensed Consolidated Balance Sheets 3 Condensed Consolidated Statements of Equity 4 Condensed Consolidated Statements of Cash Flows 5 Notes to Condensed Consolidated Financial Statements 6 Item 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 15 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 25 Item 4.
Controls and Procedures
Controls and Procedures 25
OTHER INFORMATION
Part II. OTHER INFORMATION Item 1.
Legal Proceedings
Legal Proceedings 26 Item 1A.
Risk Factors
Risk Factors 26 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 27 Item 3. Defaults Upon Senior Securities 27 Item 4. Mine Safety Disclosures 27 Item 5. Other Information 27 Item 6. Exhibits 27 Table of Contents
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION Item I.
Financial Statements
Financial Statements TRANSOCEAN LTD. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (in millions, except per share data) (Unaudited) Three months ended Six months ended June 30, June 30, 2024 2023 2024 2023 Contract drilling revenues $ 861 $ 729 $ 1,624 $ 1,378 Costs and expenses Operating and maintenance 534 484 1,057 893 Depreciation and amortization 184 186 369 368 General and administrative 59 48 111 93 777 718 1,537 1,354 Loss on impairment of assets ( 143 ) ( 53 ) ( 143 ) ( 53 ) Loss on disposal of assets, net — — ( 6 ) ( 170 ) Operating loss ( 59 ) ( 42 ) ( 62 ) ( 199 ) Other income (expense), net Interest income 14 11 29 30 Interest expense, net of amounts capitalized ( 74 ) ( 168 ) ( 191 ) ( 417 ) Gain (loss) on retirement of debt 140 — 140 ( 32 ) Other, net 12 18 24 23 92 ( 139 ) 2 ( 396 ) Income (loss) before income tax expense (benefit) 33 ( 181 ) ( 60 ) ( 595 ) Income tax expense (benefit) 156 ( 16 ) ( 35 ) 35 Net loss ( 123 ) ( 165 ) ( 25 ) ( 630 ) Net income attributable to noncontrolling interest — — — — Net loss attributable to controlling interest $ ( 123 ) $ ( 165 ) $ ( 25 ) $ ( 630 ) Loss per share, basic and diluted $ ( 0.15 ) $ ( 0.22 ) $ ( 0.03 ) $ ( 0.85 ) Weighted-average shares, basic and diluted 824 761 821 745 See accompanying notes. - 1 - Table of Contents TRANSOCEAN LTD. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (in millions) (Unaudited) Three months ended Six months ended June 30, June 30, 2024 2023 2024 2023 Net loss $ ( 123 ) $ ( 165 ) $ ( 25 ) $ ( 630 ) Net income attributable to noncontrolling interest — — — — Net loss attributable to controlling interest ( 123 ) ( 165 ) ( 25 ) ( 630 ) Components of net periodic benefit costs before reclassifications ( 2 ) — (