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Employee Benefit Plans
12 Months Ended
Dec. 31, 2014
Postemployment Benefits [Abstract]  
Employee Benefit Plans

15. Employee Benefit Plans

Defined Contribution Plans

We maintain defined contribution retirement plans for our U.S., U.K. and third-country national, or TCN, employees. The plan for our U.S. employees, or the 401k Plan, is designed to qualify under Section 401(k) of the Internal Revenue Code of 1986, as amended, or the Code. Under the 401k Plan, each participant may elect to defer taxation on a portion of his or her eligible earnings, as defined by the 401k Plan, by directing his or her employer to withhold a percentage of such earnings. A participating employee may also elect to make after-tax contributions to the 401k Plan. During each of the years ended December 31, 2014, 2013 and 2012, we made a 4% profit-share contribution of participants’ defined compensation and matched up to 6% of each employee’s compensation contributed to the 401k Plan. Participants are fully vested in the employer match immediately upon enrollment in the 401k Plan and subject to a three-year cliff vesting period for the profit sharing contribution. For the years ended December 31, 2014, 2013 and 2012, our provision for contributions was $34.1 million, $29.6 million and $25.9 million, respectively.

The defined contribution retirement plan for our U.K. employees provides that we make annual contributions in an amount equal to the employee’s contributions generally up to a maximum percentage of the employee’s defined compensation per year. For each of the years ended December 31, 2014, 2013 and 2012, our contribution for employees working in the U.K. sector of the North Sea was up to a maximum of 10%, of the employee’s defined compensation. For each of the years ended December 31, 2014, 2013 and 2012, our contribution for U.K. nationals working in the Norwegian sector of the North Sea was up to a maximum of 15%, of the employee’s defined compensation. Our provision for contributions was $5.0 million, $3.5 million and $2.7 million for the years ended December 31, 2014, 2013 and 2012, respectively.

 

The defined contribution retirement plan for our TCN employees, or International Savings Plan, is similar to the 401k Plan. During each of the years ended December 31, 2014, 2013 and 2012, we contributed 4% of participants’ defined compensation and matched up to 6% of each employee’s compensation contributed to the International Savings Plan. Our provision for contributions was $3.7 million, $3.1 million and $2.8 million for the years ended December 31, 2014, 2013 and 2012, respectively.

Deferred Compensation and Supplemental Executive Retirement Plan

Our Amended and Restated Diamond Offshore Management Company Supplemental Executive Retirement Plan, or Supplemental Plan, provides benefits to a select group of our management or other highly compensated employees to compensate such employees for any portion of our base salary contribution and/or matching contribution under the 401k Plan that could not be contributed to that plan because of limitations within the Code. Our provision for contributions to the Supplemental Plan for the years ended December 31, 2014, 2013 and 2012 was approximately $265,000, $261,000 and $256,000, respectively.