XML 74 R38.htm IDEA: XBRL DOCUMENT v2.4.0.6
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) (USD $)
Share data in Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Revenue and Expense Recognition [Abstract}      
Revenues received but unearned $ 78,800,000 $ 58,400,000  
Deferred drilling costs 41,500,000 33,000,000  
Cash Equivalents [Abstract]      
Maximum maturity period for highly liquid cash investments to be considered cash equivalent 3 months    
Accounts Receivable and Allowance for Doubtful Accounts [Abstract]      
Allowance for doubtful accounts 0 300,000  
Accrued income tax refund 88,600,000    
Unreimbursed costs related to the salvage of lost or damaged rigs 1,900,000 4,600,000  
Property and Depreciation [Abstract]      
Interest incurred and capitalized during construction 33,400,000 54,500,000 40,000,000
Repairs and maintenance expense, continuing operations 132,200,000 97,600,000 70,300,000
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]      
Asset impairment charges 5,200,000 8,000,000  
Recognized an additional impairment charge for the rig 3,900,000    
Carrying amount of assets impaired 22,954,000 27,661,000  
Foreign Currency Transactions [Abstract]      
Foreign currency transaction gains (losses) 500,000 800,000 400,000
Income Taxes [Abstract]      
U.S. Statutory income tax rate (in hundredths) 35.00%    
Shares for basic and diluted income per share [Abstract]      
Average common shares outstanding (in thousands of shares) 122,998 125,044 117,021
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]      
Average shares for diluted computations (in thousands of shares) 123,872 126,393 118,818
Excluding antidilutive securities      
Total potentially dilutive shares excluded from computation due to antidilutive for current disclosure (in thousands of shares) 658 308 153
Restricted Stock [Member]
     
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]      
Average shares for diluted computations (in thousands of shares) 457 765 1,270
Employee and director stock options [Member]
     
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]      
Average shares for diluted computations (in thousands of shares) 160 298 417
Excluding antidilutive securities      
Total potentially dilutive shares excluded from computation due to antidilutive for current disclosure (in thousands of shares) 42 42 153
Stock appreciation rights and other [Member]
     
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]      
Average shares for diluted computations (in thousands of shares) 257 286 110
Excluding antidilutive securities      
Total potentially dilutive shares excluded from computation due to antidilutive for current disclosure (in thousands of shares) 616 266 0
Rowan Juneau [Member]
     
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]      
Carrying amount of assets impaired 18,700,000    
Le Tourneau [Member]
     
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]      
Carrying amount of assets impaired $ 26,900,000    
Jack-up drilling rigs: Hulls [Member]
     
Estimated useful lives and salvage value [Abstract]      
Maximum useful life (in years) 35    
Salvage value 20.00%    
Jack-up drilling rigs: Legs [Member]
     
Estimated useful lives and salvage value [Abstract]      
Maximum useful life (in years) 30    
Salvage value 20.00%    
Jack-up drilling rigs: Quarters [Member]
     
Estimated useful lives and salvage value [Abstract]      
Maximum useful life (in years) 25    
Salvage value 20.00%    
Jack-up drilling rigs: Drilling equipment [Member]
     
Estimated useful lives and salvage value [Abstract]      
Minimum useful life (in years) 10    
Maximum useful life (in years) 25    
Salvage value 20.00%    
Drill pipe and tubular equipment [Member]
     
Estimated useful lives and salvage value [Abstract]      
Maximum useful life (in years) 4    
Salvage value 10.00%    
Other property and equipment [Member]
     
Estimated useful lives and salvage value [Abstract]      
Minimum useful life (in years) 3    
Maximum useful life (in years) 30