| Unaudited Quarterly Financial Data |
UNAUDITED QUARTERLY FINANCIAL DATA
The following tables summarize our unaudited quarterly consolidated income statement data for the years ended December 31, 2015 and 2014 (in millions, except per share amounts):
| | | | | | | | | | | | | | | | | | | | | 2015 | First Quarter | | Second Quarter | | Third Quarter | | Fourth Quarter | | Year
| Operating revenues | $ | 1,163.9 |
| | $ | 1,059.0 |
| | $ | 1,012.2 |
| | $ | 828.3 |
| | $ | 4,063.4 |
| Operating expenses | | | |
| | |
| | |
| | |
| Contract drilling (exclusive of depreciation) | 518.3 |
| | 502.6 |
| | 433.5 |
| | 415.2 |
| | 1,869.6 |
| Loss on impairment | — |
| | — |
| | 2.4 |
| | 2,744.0 |
| | 2,746.4 |
| Depreciation | 137.1 |
| | 140.5 |
| | 145.2 |
| | 149.7 |
| | 572.5 |
| General and administrative | 30.1 |
| | 29.7 |
| | 28.4 |
| | 30.2 |
| | 118.4 |
| Operating income (loss) | 478.4 |
| | 386.2 |
| | 402.7 |
| | (2,510.8 | ) | | (1,243.5 | ) | Other expense, net | (72.6 | ) | | (55.4 | ) | | (52.4 | ) | | (47.3 | ) | | (227.7 | ) | Income (loss) from continuing operations before income taxes | 405.8 |
| | 330.8 |
| | 350.3 |
| | (2,558.1 | ) | | (1,471.2 | ) | Income tax expense (benefit) | 77.7 |
| | 58.0 |
| | 33.2 |
| | (182.8 | ) | | (13.9 | ) | Income (loss) from continuing operations | 328.1 |
| | 272.8 |
| | 317.1 |
| | (2,375.3 | ) | | (1,457.3 | ) | Loss from discontinued operations, net | (.2 | ) | | (10.1 | ) | | (23.3 | ) | | (95.0 | ) | | (128.6 | ) | Net income (loss) | 327.9 |
| | 262.7 |
| | 293.8 |
| | (2,470.3 | ) | | (1,585.9 | ) | Net income attributable to noncontrolling interests | (3.2 | ) | | (2.4 | ) | | (1.8 | ) | | (1.5 | ) | | (8.9 | ) | Net income (loss) attributable to Ensco | $ | 324.7 |
| | $ | 260.3 |
| | $ | 292.0 |
| | $ | (2,471.8 | ) | | $ | (1,594.8 | ) | Earnings (loss) per share – basic and diluted | |
| | |
| | |
| | |
| |
|
| Continuing operations | $ | 1.38 |
| | $ | 1.15 |
| | $ | 1.34 |
| | $ | (10.23 | ) | | $ | (6.33 | ) | Discontinued operations | — |
| | (0.04 | ) | | (0.10 | ) | | (0.41 | ) | | (0.55 | ) | | $ | 1.38 |
| | $ | 1.11 |
| | $ | 1.24 |
| | $ | (10.64 | ) | | $ | (6.88 | ) |
| | | | | | | | | | | | | | | | | | | | | 2014 | First Quarter | | Second Quarter | | Third Quarter | | Fourth Quarter | | Year
| Operating revenues | $ | 1,066.7 |
| | $ | 1,136.6 |
| | $ | 1,201.4 |
| | $ | 1,159.8 |
| | $ | 4,564.5 |
| Operating expenses | |
| | |
| | |
| | | | |
| Contract drilling (exclusive of depreciation) | 520.2 |
| | 542.5 |
| | 500.2 |
| | 514.0 |
| | 2,076.9 |
| Loss on Impairment | — |
| | 703.5 |
| | — |
| | 3,515.2 |
| | 4,218.7 |
| Depreciation | 131.1 |
| | 132.2 |
| | 135.2 |
| | 139.4 |
| | 537.9 |
| General and administrative | 38.1 |
| | 36.2 |
| | 29.3 |
| | 28.3 |
| | 131.9 |
| Operating income (loss) | 377.3 |
| | (277.8 | ) | | 536.7 |
| | (3,037.1 | ) | | (2,400.9 | ) | Other expense, net | (29.1 | ) | | (30.8 | ) | | (38.4 | ) | | (49.6 | ) | | (147.9 | ) | Income (loss) from continuing operations before income taxes | 348.2 |
| | (308.6 | ) | | 498.3 |
| | (3,086.7 | ) | | (2,548.8 | ) | Income tax expense (benefit) | 49.5 |
| | 42.6 |
| | 74.6 |
| | (26.2 | ) | | 140.5 |
| Income (loss) from continuing operations | 298.7 |
| | (351.2 | ) | | 423.7 |
| | (3,060.5 | ) | | (2,689.3 | ) | (Loss) income from discontinued operations, net | (2.0 | ) | | (818.4 | ) | | 9.2 |
| | (388.0 | ) | | (1,199.2 | ) | Net income (loss) | 296.7 |
| | (1,169.6 | ) | | 432.9 |
| | (3,448.5 | ) | | (3,888.5 | ) | Net income attributable to noncontrolling interests | (4.2 | ) | | (3.1 | ) | | (3.5 | ) | | (3.3 | ) | | (14.1 | ) | Net income (loss) attributable to Ensco | $ | 292.5 |
| | $ | (1,172.7 | ) | | $ | 429.4 |
| | $ | (3,451.8 | ) | | $ | (3,902.6 | ) | Earnings (loss) per share – basic and diluted | |
| | |
| | |
| | |
| |
|
| Continuing operations | $ | 1.26 |
| | $ | (1.53 | ) | | $ | 1.79 |
| | $ | (13.22 | ) | | $ | (11.70 | ) | Discontinued operations | (0.01 | ) | | (3.54 | ) | | 0.04 |
| | (1.67 | ) | | (5.18 | ) | | $ | 1.25 |
| | $ | (5.07 | ) | | $ | 1.83 |
| | $ | (14.89 | ) | | $ | (16.88 | ) |
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