v3.26.3
Supplemental Financial Information (Tables)
 9 Months Ended
Sep. 30, 2026
Supplemental Financial Information [Abstract]  
Accounts Receivable, Net
Accounts receivable, net, consisted of the following (in millions):
September 30, 2026December 31, 2025
Trade$502.4 $424.1 
Income tax receivables (1)
6.5 49.8 
Other34.2 15.8 
543.1 489.7 
Allowance for doubtful accounts (2)
(5.0)(14.9)
$538.1 $474.8 

(1)We received U.S. income tax refunds totaling approximately $43.0 million during the nine months ended September 30, 2026.
(2)During the second quarter of 2026, we recognized an $11.7 million reversal of previously recognized bad debt expense in connection with a favorable legal settlement resulting in the collection of outstanding customer invoices from 2020.
Other Current Assets
Other current assets consisted of the following (in millions):
September 30, 2026December 31, 2025
Deferred costs$62.0 $37.7 
Prepaid taxes61.1 58.2 
Prepaid expenses22.0 13.3 
Other48.1 35.5 
$193.2 $144.7 
Schedule of Accrued Liabilities
Accrued liabilities and other consisted of the following (in millions):
September 30, 2026December 31, 2025
Current contract liabilities (deferred revenues)$129.9 $87.7 
Personnel costs73.9 81.6 
Income and other taxes payable61.8 73.9 
Accrued interest38.4 15.4 
Lease liabilities27.9 35.6 
Accrued claims14.8 21.3 
Other28.4 27.9 
$375.1 $343.4 
Other Liabilities
Other liabilities consisted of the following (in millions):
September 30, 2026December 31, 2025
Unrecognized tax benefits (inclusive of interest and penalties)$136.6 $136.2 
Noncurrent contract liabilities (deferred revenues)78.1 63.2 
Pension and other post-retirement benefits50.8 68.3 
Lease liabilities
41.3 37.3 
Other18.8 20.8 
$325.6 $325.8 
Schedule of Other Nonoperating Income, by Component
Other, net consisted of the following (in millions):
Three Months Ended September 30,Nine Months Ended September 30,
2026202520262025
Net gain on sale of property$27.5 $89.5 $63.6 $117.4 
Net foreign currency exchange gains (losses)0.3 (1.8)(3.1)(16.1)
Net periodic pension and retiree medical income (loss)1.0 (0.2)2.8 (0.7)
Other income (expense)(0.1)0.2 0.3 (0.4)
$28.7 $87.7 $63.6 $100.2 
Schedule of Cash Flow, Supplemental Disclosures
The following table provides a reconciliation of the amount of cash and cash equivalents and restricted cash reported within the Condensed Consolidated Balance Sheets that sum to the total of the same such amounts shown within the Condensed Consolidated Statements of Cash Flows (in millions):

September 30,
2026		December 31,
2025
Cash and cash equivalents
$525.1 $599.4 
Restricted cash—current (1)
5.9 7.0 
Restricted cash—non-current (1)
10.6 11.1 
$541.6 $617.5 
(1)Restricted cash consists primarily of collateral on letters of credit of $14.8 million and $16.3 million as of September 30, 2026 and December 31, 2025, respectively. Restricted cash—current is included in Other current assets and Restricted cash—non-current is included in Other assets in our Condensed Consolidated Balance Sheets. See "Note 11 - Contingencies" for more information regarding our letters of credit.
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Customer, Extent of Reliance Consolidated revenues with customers that individually contributed 10% or more of revenue in either of the three and nine months ended September 30, 2026 and 2025 were as follows:
Three Months Ended
September 30, 2026September 30, 2025
FloatersJackupsOtherTotalFloatersJackupsOtherTotal
BP plc ("BP")6 %4 %5 %15 %5 %3 %6 %14 %
Petróleo Brasileiro S.A. ("Petrobras")13 %— %— %13 %13 %— %— %13 %
Azule Energy ("Azule")7 %4 %— %11 %7 %4 %— %11 %
Equinor ASA ("Equinor")10 %— %— %10 %6 %— %— %6 %
Other customers (1)
25 %24 %2 %51 %20 %33 %3 %56 %
61 %32 %7 %100 %51 %40 %9 %100 %

Nine Months Ended
September 30, 2026September 30, 2025
FloatersJackupsOtherTotalFloatersJackupsOtherTotal
Petrobras15 %— %— %15 %13 %— %— %13 %
BP 4 %5 %6 %15 %4 %3 %5 %12 %
Azule9 %4 %— %13 %7 %3 %— %10 %
Equinor8 %— %— %8 %6 %— %— %6 %
Other customers (1)
17 %28 %4 %49 %24 %32 %3 %59 %
53 %37 %10 %100 %54 %38 %8 %100 %
(1)Other customers includes customers that individually contributed to less than 10% of our total revenues.
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Geographical Area, Revenue Consolidated revenues for locations that individually had 10% or more of revenue were as follows (in millions):
Three Months Ended
September 30, 2026September 30, 2025
FloatersJackupsOtherTotalFloatersJackupsOtherTotal
Brazil$137.1 $— $— $137.1 $144.5 $— $— $144.5 
Angola81.1 22.7 — 103.8 65.0 23.0 — 88.0 
United Kingdom— 93.4 — 93.4 — 99.4 — 99.4 
Gulf of America
40.9 — 31.6 72.5 48.9 — 32.4 81.3 
Australia
— 16.3 — 16.3 40.0 25.9 — 65.9 
Other countries (1)
100.2 56.4 13.9 170.5 4.5 88.8 23.3 116.6 
$359.3 $188.8 $45.5 $593.6 $302.9 $237.1 $55.7 $595.7 

Nine Months Ended
September 30, 2026September 30, 2025
FloatersJackupsOtherTotalFloatersJackupsOtherTotal
Brazil$361.2 $— $— $361.2 $462.7 $— $— $462.7 
Angola225.8 69.5 — 295.3 149.5 48.6 — 198.1 
United Kingdom— 287.5 — 287.5 — 297.9 — 297.9 
Gulf of America
122.7 1.0 96.0 219.7 180.0 — 93.2 273.2 
Australia
— 48.5 — 48.5 117.6 111.5 — 229.1 
Other countries (1)
137.2 189.7 59.1 386.0 84.9 230.7 55.0 370.6 
$846.9 $596.2 $155.1 $1,598.2 $994.7 $688.7 $148.2 $1,831.6 
(1)Other countries includes locations that individually contributed to less than 10% of our total revenues.