v3.23.1
CONSOLIDATED BALANCE SHEET - USD ($)
$ in Millions
Dec. 31, 2022
Dec. 31, 2021
Current assets    
Cash and cash equivalents $ 108.0 $ 34.9
Restricted cash 2.5 3.3
Trade receivables, net 43.0 28.5
Prepaid expenses 9.6 6.6
Deferred mobilization and contract preparation cost 38.4 17.2
Accrued revenue 57.4 20.2
Due from related parties 65.6 48.6
Other current assets 25.4 16.9
Total current assets 349.9 176.2
Non-current assets    
Non-current restricted cash 8.0 7.8
Property, plant and equipment 3.9 3.7
Newbuildings 3.5 135.5
Jack-up drilling rigs, net 2,589.1 2,730.8
Equity method investments 20.6 19.4
Other non-current assets 26.7 6.9
Total non-current assets 2,651.8 2,904.1
Total assets 3,001.7 3,080.3
Current liabilities    
Trade payables 47.7 34.7
Accrued expenses 80.8 45.6
Short-term accrued interest and other items 77.7 15.3
Short-term debt 445.9 0.0
Short-term deferred mobilization, demobilization and other revenue 57.3 3.9
Other current liabilities 36.2 18.4
Total current liabilities 745.6 117.9
Non-current liabilities    
Long-term accrued interest and other items 29.7 70.1
Long-term debt 1,191.1 1,915.9
Long-term deferred mobilization, demobilization and other revenue 68.7 2.5
Other non-current liabilities 14.3 12.7
Onerous contracts 54.5 71.3
Total non-current liabilities 1,358.3 2,072.5
Total liabilities 2,103.9 2,190.4
Commitments and contingencies
Stockholders’ equity    
Share Capital - Common shares of par value $0.10 per share: authorized 255,000,000 (2021: 180,000,000), issued 229,263,598 (2021: 137,218,175) and outstanding 228,948,087 (2021: 136,811,842) shares 23.0 13.8
Treasury shares (9.8) (13.7)
Additional paid in capital 2,265.6 1,978.0
Accumulated deficit (1,381.0) (1,088.2)
Total equity 897.8 889.9
Total liabilities and equity $ 3,001.7 $ 3,080.3