v3.26.1
Revenue from contracts with customers
 3 Months Ended
Mar. 31, 2026
Revenue from Contract with Customer [Abstract]  
Revenue from contracts with customers Revenue from contracts with customers
The following table provides information about receivables and contract liabilities from our contracts with customers, as of the dates presented:
(In $ millions)March 31,
2026		December 31,
2025
Accounts receivable, net214 162 
Current contract liabilities (classified within other current liabilities)(70)(58)
Non-current contract liabilities (classified within other non-current liabilities)(43)(36)
Changes in the contract liabilities balances during the three months ended March 31, 2026 are as follows:
(In $ millions)Contract Liabilities
Contract liabilities as of January 1, 2026(94)
Amortization of revenue included in the January 1, 2026 contract liability balance19 
Additional contract liabilities recognized, excluding amounts recognized as revenue(38)
Contract liabilities as of March 31, 2026(113)
Revenues are attributed to geographical locations based on the country of operations for drilling activities, i.e., the country where the revenues are generated. The following table presents our revenues by geographic area:
Three months ended March 31,
(In $ millions)20262025
Brazil146 121 
United States103 81 
Angola77 81 
Norway32 23 
Other (1)
— 29 
Total operating revenues358 335 
(1) "Other" represents countries in which we operate that individually had revenues representing less than 10% of total operating revenues earned for any of the periods presented.
We had the following customers with revenues greater than 10% of total operating revenues in any of the periods presented:
Three months ended March 31,
20262025
Petrobras34 %29 %
Sonadrill21 %24 %
LLOG12 %6 %
Talos5 %13 %
Other28 %28 %