Revenues (Tables)

9 Months Ended

Sep. 30, 2023

Revenues

Schedule of revenue disaggregation

	Three months ended September 30,												Nine months ended September 30,
	2023						2022						2023						2022
	Ultra-		Harsh				Ultra-		Harsh				Ultra-		Harsh				Ultra-		Harsh
	deepwater		environment				deepwater		environment				deepwater		environment				deepwater		environment
	floaters		floaters		Total		floaters		floaters		Total		floaters		floaters		Total		floaters		floaters		Total
U.S.	$	360	$	—	$	360	$	288	$	—	$	288	$	1,077	$	—	$	1,077	$	809	$	—	$	809
Norway		—		164		164		—		244		244		—		454		454		—		678		678
Other countries (a)		156		33		189		145		14		159		459		101		560		465		17		482
Total contract drilling revenues	$	516	$	197	$	713	$	433	$	258	$	691	$	1,536	$	555	$	2,091	$	1,274	$	695	$	1,969

(a)The aggregate contract drilling revenues earned in other countries that individually represented less than 10 percent of total contract drilling revenues.

Schedule of contract balances and changes

Contract liabilities—Contract liabilities for our contracts with customers were as follows (in millions):

	September 30,		December 31,
	2023		2022
Deferred contract revenues, recorded in other current liabilities	$	131	$	124
Deferred contract revenues, recorded in other long-term liabilities		237		204
Total contract liabilities	$	368	$	328

Significant changes in contract liabilities were as follows (in millions):

	Nine months ended
	September 30,
	2023		2022
Total contract liabilities, beginning of period	$	328	$	348
Decrease due to recognition of revenues for goods and services		(149)		(90)
Increase due to goods and services transferred over time		189		41
Total contract liabilities, end of period	$	368	$	299