Other Financial Statement Disclosures (Tables)

9 Months Ended

Sep. 30, 2018

Other Financial Statement Disclosures [Abstract]

Components of Receivables - Trade and Other

The following table sets forth the components of Receivables - trade and other (in millions):

	September 30, 2018		December 31, 2017
Trade	$	260.1	$	195.8
Income tax	15.1		8.0
Other	6.3		9.0
Total Receivables - trade and other	$	281.5	$	212.8

Schedule of Accrued Liabilities

The following table sets forth the components of Accrued liabilities (in millions):

	September 30, 2018		December 31, 2017
Pension and other postretirement benefits	$	10.3	$	27.0
Compensation and related employee costs	41.2		69.0
Interest	39.6		32.0
Income taxes	13.5		15.4
Other	17.6		15.7
Total Accrued liabilities	$	122.2	$	159.1

Schedule of Long-term Debt

Long-term debt consisted of the following (in millions):

	September 30, 2018		December 31, 2017
7.875% Senior Notes, due August 2019 ($201.4 million principal amount; 8.0% effective rate)	$	201.1	$	200.9
4.875% Senior Notes, due June 2022 ($620.8 million principal amount; 4.7% effective rate)	624.0		624.6
4.75% Senior Notes, due January 2024 ($398.1 million principal amount; 4.8% effective rate)	396.2		395.9
7.375% Senior Notes, due June 2025 ($500 million principal amount; 7.4% effective rate)	497.8		497.5
5.4% Senior Notes, due December 2042 ($400 million principal amount; 5.4% effective rate)	395.2		395.1
5.85% Senior Notes, due January 2044 ($400 million principal amount; 5.9% effective rate)	396.4		396.3
Total carrying value	$	2,510.7	$	2,510.3
Current portion (1)	201.1		—
Carrying value, less current portion	$	2,309.6	$	2,510.3
(1) Current portion of long-term debt at September 30, 2018 included the 7.875% Senior Notes due in August 2019.

Line of Credit Facility Covenant

the Company was in compliance with each of the financial covenants under the New Credit Agreement as follows:

	Min/Max			Value as of
Financial covenant	Requirement			September 30, 2018
Total tangible capitalization	55		%	33		%
Liquidity (in millions)	$	300.0		$	2,292.7
Marketed Rig Value Ratio	3.00			4.14
Guaranteed Rig Value Ratio	80		%	84		%