Discontinued Operations (Tables)

12 Months Ended

Dec. 31, 2014

Discontinued Operations and Disposal Groups [Abstract]

Schedule of Operation from Discontinued Operations

The following table provides the results of operations from discontinued operations:

	Year Ended December 31,
	2014			2013			2012
Operating revenues
Contract drilling services	$	993,253		$	1,615,325		$	1,259,741
Reimbursables		21,899			45,582			49,728
Labor contract drilling services		19,304			35,146			36,591
Other		2			94			253
Operating revenues from discontinued operations	$	1,034,458		$	1,696,147		$	1,346,313
Income from discontinued operations
Income from discontinued operations before income taxes	$	216,391		$	379,591		$	159,860
Income tax provision		(55,889	)		(75,489	)		(51,905	)
Net income from discontinued operations, net of tax	$	160,502		$	304,102		$	107,955

Schedule of Carrying Value of Major Categories of Assets and Liabilities

The carrying value of the major categories of assets and liabilities of Paragon Offshore immediately preceding the Spin-off on August 1, 2014, which are excluded from our Consolidated Balance Sheet at December 31, 2014, were as follows:

ASSETS
Current assets
Cash and cash equivalents	$	104,152
Accounts receivable		362,100
Prepaid expenses and other current assets		90,089
Total current assets of discontinued operations		556,341
Property and equipment, at cost		5,609,119
Accumulated depreciation		(2,640,943	)
Property and equipment, net		2,968,176
Other assets		84,894
Total assets of discontinued operations	$	3,609,411
LIABILITIES
Current liabilities
Accounts payable	$	132,446
Accrued payroll and related costs		64,580
Other current liabilities		103,768
Total current liabilities of discontinued operations		300,794
Long-term debt		1,726,750
Other liabilities		172,467
Total liabilities of discontinued operations	$	2,200,011