Transocean Ltd. Files Q3 2024 10-Q
Ticker: RIG · Form: 10-Q · Filed: Oct 31, 2024 · CIK: 1451505
Sentiment: neutral
Topics: 10-Q, oil and gas, financials
TL;DR
Transocean's Q3 2024 10-Q is in. Check financials.
AI Summary
Transocean Ltd. filed its 10-Q for the period ending September 30, 2024. The filing details financial performance and operational updates for the third quarter of 2024. Key financial data and disclosures relevant to investors and stakeholders are presented.
Why It Matters
This filing provides crucial insights into Transocean's financial health and operational status, impacting investor decisions and market perception of the offshore drilling company.
Risk Assessment
Risk Level: medium — The oil and gas industry is subject to significant price volatility and geopolitical risks, which can directly impact Transocean's performance.
Key Numbers
- 2024-09-30 — Reporting Period End Date (Indicates the end of the fiscal quarter for which financial information is reported.)
- 2024-10-31 — Filing Date (The date the 10-Q report was officially submitted to the SEC.)
Key Players & Entities
- Transocean Ltd. (company) — Filer of the 10-Q
- 2024-09-30 (date) — End of the reporting period
- 2024-10-31 (date) — Filing date
FAQ
What is the primary business of Transocean Ltd. according to the filing?
Transocean Ltd. is primarily involved in the 'DRILLING OIL & GAS WELLS' industry, as indicated by its Standard Industrial Classification code [1381].
What is the fiscal year end for Transocean Ltd.?
The fiscal year end for Transocean Ltd. is December 31 (1231).
What is the SEC file number for Transocean Ltd.?
The SEC file number for Transocean Ltd. is 001-38373.
What is the reporting period covered by this 10-Q filing?
This 10-Q filing covers the period ending September 30, 2024.
Where is Transocean Ltd. incorporated and what is its business address?
Transocean Ltd. is incorporated in V8 and its business address is Turmstrasse 30, Steinhausen, V8, 6312.
Filing Stats: 4,716 words · 19 min read · ~16 pages · Grade level 16.6 · Accepted 2024-10-31 16:21:16
Key Financial Figures
- $0.10 — exchange on which registered Shares , $0.10 par value RIG New York Stock Exchang
Filing Documents
- rig-20240930x10q.htm (10-Q) — 2298KB
- rig-20240930xex31d1.htm (EX-31.1) — 9KB
- rig-20240930xex31d2.htm (EX-31.2) — 9KB
- rig-20240930xex32d1.htm (EX-32.1) — 6KB
- rig-20240930xex32d2.htm (EX-32.2) — 6KB
- rig-20240930x10q003.jpg (GRAPHIC) — 5KB
- 0001451505-24-000142.txt ( ) — 9051KB
- rig-20240930.xsd (EX-101.SCH) — 42KB
- rig-20240930_cal.xml (EX-101.CAL) — 59KB
- rig-20240930_def.xml (EX-101.DEF) — 239KB
- rig-20240930_lab.xml (EX-101.LAB) — 411KB
- rig-20240930_pre.xml (EX-101.PRE) — 318KB
- rig-20240930x10q_htm.xml (XML) — 1857KB
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 Income (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 16 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 26 Item 4.
Controls and Procedures
Controls and Procedures 26
OTHER INFORMATION
Part II. OTHER INFORMATION Item 1.
Legal Proceedings
Legal Proceedings 27 Item 1A.
Risk Factors
Risk Factors 27 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 27 Item 3. Defaults Upon Senior Securities 27 Item 4. Mine Safety Disclosures 28 Item 5. Other Information 28 Item 6. Exhibits 28 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 Nine months ended September 30, September 30, 2024 2023 2024 2023 Contract drilling revenues $ 948 $ 713 $ 2,572 $ 2,091 Costs and expenses Operating and maintenance 563 524 1,620 1,417 Depreciation and amortization 190 192 559 560 General and administrative 47 44 158 137 800 760 2,337 2,114 Loss on impairment of assets ( 629 ) ( 5 ) ( 772 ) ( 58 ) Loss on disposal of assets, net ( 4 ) ( 3 ) ( 10 ) ( 173 ) Operating loss ( 485 ) ( 55 ) ( 547 ) ( 254 ) Other income (expense), net Interest income 11 12 40 42 Interest expense, net of amounts capitalized ( 80 ) ( 232 ) ( 271 ) ( 649 ) Gain (loss) on retirement of debt 21 — 161 ( 32 ) Other, net 8 12 32 35 ( 40 ) ( 208 ) ( 38 ) ( 604 ) Loss before income tax benefit ( 525 ) ( 263 ) ( 585 ) ( 858 ) Income tax benefit ( 31 ) ( 43 ) ( 66 ) ( 8 ) Net loss ( 494 ) ( 220 ) ( 519 ) ( 850 ) Net income attributable to noncontrolling interest — — — — Net loss attributable to controlling interest $ ( 494 ) $ ( 220 ) $ ( 519 ) $ ( 850 ) Loss per share Basic $ ( 0.56 ) $ ( 0.28 ) $ ( 0.62 ) $ ( 1.13 ) Diluted $ ( 0.58 ) $ ( 0.28 ) $ ( 0.65 ) $ ( 1.13 ) Weighted-average shares outstanding Basic 879 774 840 755 Diluted 954 774 915 755 See accompanying notes. - 1 - Table of Contents TRANSOCEAN LTD. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE Income (LOSS) (in millions) (Unaudited) Three months ended Nine months ended September 30, September 30, 2024 2023 2024 2023 Net loss $ ( 494 ) $ ( 220 ) $ ( 519 ) $ ( 850 ) Net income attributable to noncontrolling interest — — — — Net loss attributable to controlling interest