Rowan Companies 10-Q 1 Nov 16 2016 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2016	Oct. 25, 2016
Document and Entity Information [Abstract]
Entity Registrant Name	ROWAN COMPANIES PLC
Entity Central Index Key	85,408
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		125,439,127
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q3
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2016

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Sep. 30, 2016	Dec. 31, 2015
CURRENT ASSETS:
Cash and cash equivalents	$ 1,037.5	$ 484.2
Receivables - trade and other	440.5	410.5
Prepaid expenses and other current assets	28.6	26.6
Total current assets	1,506.6	921.3
PROPERTY AND EQUIPMENT:
Drilling equipment	8,955.8	8,930.4
Other property and equipment	134.6	137.7
Property and equipment - gross	9,090.4	9,068.1
Less accumulated depreciation and amortization	1,947.1	1,662.3
Property and equipment - net	7,143.3	7,405.8
Other assets	15.1	20.2
TOTAL ASSETS	8,665	8,347.3
CURRENT LIABILITIES:
Current portion of long-term debt	357.1	0
Accounts payable - trade	82.2	109.6
Deferred revenues	78.4	33.1
Accrued liabilities	160.1	186
Total current liabilities	677.8	328.7
Long-term debt, less current portion	2,288.5	2,692.4
Other liabilities	356.7	357.9
Deferred income taxes - net	184.8	195.8
Commitments and contingent liabilities (Note 4)
SHAREHOLDERS' EQUITY:
Class A Ordinary Shares, $0.125 par value, 126.0 and 125.9 shares issued at September 30, 2016, and December 31, 2015	15.7	15.7
Additional paid-in capital	1,467.9	1,458.5
Retained earnings	3,854.8	3,509.8
Cost of 0.6 and 1.1 treasury shares at September 30, 2016, and December 31, 2015, respectively	(7.1)	(12.2)
Accumulated other comprehensive loss	(174.1)	(199.3)
Total shareholders' equity	5,157.2	4,772.5
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 8,665	$ 8,347.3

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares shares in Millions	Sep. 30, 2016	Dec. 31, 2015
SHAREHOLDERS' EQUITY:
Treasury shares	0.6	1.1
Common Class A [Member]
SHAREHOLDERS' EQUITY:
Common stock, par value (in dollars per share)	$ 0.125	$ 0.125
Common stock, shares issued	126	125.9

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Income Statement [Abstract]
REVENUES	$ 379.4	$ 545.4	$ 1,491.4	$ 1,601.2
COSTS AND EXPENSES:
Direct operating costs (excluding items below)	186	247.6	598.3	757.3
Depreciation and amortization	102.2	104.1	301.2	289.2
Selling, general and administrative	23.5	29.7	76.5	88.4
Loss on disposals of property and equipment	1.2	2.3	5.3	2.1
Material charges and other operating items	32.9	332.3	32.9	337.3
Total costs and expenses	345.8	716	1,014.2	1,474.3
Income (loss) from operations	33.6	(170.6)	477.2	126.9
OTHER INCOME (EXPENSE):
Interest expense, net of interest capitalized	(39.4)	(41.3)	(116.6)	(104.9)
Gain on extinguishment of debt	0	0	2.4	0
Interest income	1.2	0.2	2.1	0.8
Other - net	(2.1)	(1.8)	(5.4)	(2.9)
Total other income (expense), net	(40.3)	(42.9)	(117.5)	(107)
INCOME (LOSS) BEFORE INCOME TAXES	(6.7)	(213.5)	359.7	19.9
Provision (benefit) for income taxes	(12.2)	25.9	14.7	50.9
NET INCOME (LOSS)	$ 5.5	$ (239.4)	$ 345	$ (31)
NET INCOME (LOSS) PER SHARE - BASIC (in dollars per share)	$ 0.04	$ (1.92)	$ 2.75	$ (0.25)
NET INCOME (LOSS) PER SHARE - DILUTED (in dollars per share)	0.04	(1.92)	2.73	(0.25)
CASH DIVIDENDS DECLARED PER SHARE (in dollars per share)	$ 0	$ 0.1	$ 0	$ 0.30

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Statement of Comprehensive Income [Abstract]
NET INCOME (LOSS)	$ 5.5	$ (239.4)	$ 345	$ (31)
OTHER COMPREHENSIVE INCOME:
Net changes in pension and other postretirement plan assets and benefit obligations recognized in other comprehensive income, net of income tax expense of $10.3 for the three and nine months ended September 2016 (See Note 3)	19.2	0	19.2	0
Net reclassification adjustment for amounts recognized in net income (loss) as a component of net periodic benefit cost, net of income tax expense of $0.5 and $1.9 for the three months ended September 30, 2016 and 2015, and $3.2 and $5.5 for the nine months ended September 30, 2016 and 2015, respectively (See Notes 3 and 8)	1	3.4	6	10.2
OTHER COMPREHENSIVE INCOME	20.2	3.4	25.2	10.2
COMPREHENSIVE INCOME (LOSS)	$ 25.7	$ (236)	$ 370.2	$ (20.8)

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Parenthetical) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Statement of Comprehensive Income [Abstract]
Net changes in pension and other postretirement plan assets and benefit obligations recognized in other comprehensive, tax expense	$ 10.3		$ 10.3
Net reclassification adjustments for amounts recognized in net income (loss) as a component of net periodic benefit cost, tax expense	$ 0.5	$ 1.9	$ 3.2	$ 5.5

CONDENSED CONSOLIDATED STATEME7

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$ 345	$ (31)
Adjustments to reconcile net income (loss) to net cash provided by operations:
Depreciation and amortization	301.2	290.1
Deferred income taxes	(21.9)	(0.7)
Provision for pension and other postretirement benefits	13	23.8
Share-based compensation expense	25.9	24.5
Loss on disposals of property and equipment	5.3	2.1
Other postretirement benefit claims paid	(6.6)	(3.5)
Contributions to pension plans	(16.1)	(11)
Noncash loss on debt extinguishment	0.3	0
Contingent payment derivative	(4.2)	0
Asset impairment charges	34.3	329.8
Changes in current assets and liabilities:
Receivables - trade and other	(30)	36.9
Prepaid expenses and other current assets	2.1	(8.3)
Accounts payable	(18.3)	28.3
Accrued income taxes	13.6	3.2
Deferred revenues	45.3	12
Other current liabilities	(28.6)	(40.1)
Net changes in other noncurrent assets and liabilities	28.3	2.8
Net cash provided by operating activities	688.6	658.9
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures	(88.5)	(674.8)
Proceeds from disposals of property and equipment	1.1	5.1
Net cash provided by (used in) investing activities	(87.4)	(669.7)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from borrowings	0	220
Reductions of long-term debt	(47.9)	(220)
Dividends paid	0	(37.9)
Net cash provided by (used in) financing activities	(47.9)	(37.9)
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	553.3	(48.7)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	484.2	339.2
CASH AND CASH EQUIVALENTS, END OF PERIOD	$ 1,037.5	$ 290.5

CONDENSED CONSOLIDATED STATEME8

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY - USD ($) shares in Millions, $ in Millions	Total	Class A ordinary shares/ Common stock [Member]	Additional paid-in capital [Member]	Retained earnings [Member]	Treasury shares [Member]	Accumulated other comprehensive income (loss) [Member]
Balance at Dec. 31, 2014	$ 4,691.4	$ 15.6	$ 1,436.9	$ 3,467	$ (8)	$ (220.1)
Balance (in shares) at Dec. 31, 2014		124.6
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net shares issued (acquired) under share-based compensation plans	(3.5)	$ 0.1	0.4		(4)
Net shares issued (acquired) under share-based compensation plans (in shares)		0.2
Share-based compensation	18.3		18.3
Excess tax benefit (deficit) from share-based compensation plans	(2.5)		(2.5)
Retirement benefit adjustments, net of taxes	10.2					10.2
Dividends	(37.9)			(37.9)
Net income (loss)	(31)			(31)
Balance at Sep. 30, 2015	4,645	$ 15.7	1,453.1	3,398.1	(12)	(209.9)
Balance (in shares) at Sep. 30, 2015		124.8
Balance at Dec. 31, 2015	4,772.5	$ 15.7	1,458.5	3,509.8	(12.2)	(199.3)
Balance (in shares) at Dec. 31, 2015		124.8
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net shares issued (acquired) under share-based compensation plans	(4.4)	$ 0	(9.5)		5.1
Net shares issued (acquired) under share-based compensation plans (in shares)		0.6
Share-based compensation	16.3		16.3
Excess tax benefit (deficit) from share-based compensation plans	2.6		2.6
Retirement benefit adjustments, net of taxes	25.2					25.2
Net income (loss)	345			345
Balance at Sep. 30, 2016	$ 5,157.2	$ 15.7	$ 1,467.9	$ 3,854.8	$ (7.1)	$ (174.1)
Balance (in shares) at Sep. 30, 2016		125.4

CONDENSED CONSOLIDATED STATEME9

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (Parenthetical) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Statement of Stockholders' Equity [Abstract]
Retirement benefit adjustments, taxes	$ 13.5	$ 5.5

Nature of Operations and Basis

Nature of Operations and Basis of Presentation	9 Months Ended
	Sep. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Operations and Basis of Presentation	Nature of Operations and Basis of Presentation Rowan Companies plc, a public limited company incorporated under the laws of England and Wales, is a global provider of offshore contract drilling services to the international oil and gas industry. Our fleet currently consists of 31 mobile offshore drilling units, including 27 self-elevating jack-up drilling units and four ultra-deepwater drillships. We contract our drilling rigs, related equipment and work crews primarily on a day-rate basis in markets throughout the world, currently including the United States Gulf of Mexico (US GOM), the United Kingdom (U.K.) and Norwegian sectors of the North Sea, the Middle East and Trinidad. The financial statements included in this Form 10-Q are presented in United States (U.S.) dollars and include the accounts of Rowan Companies plc ( “ Rowan plc ” ) and its direct and indirect subsidiaries. Unless the context otherwise requires, the terms “Rowan,” “Company,” “we,” “us” and “our” are used to refer to Rowan plc and its consolidated subsidiaries. Intercompany balances and transactions have been eliminated in consolidation. The financial statements included in this Form 10-Q have been prepared without audit in accordance with accounting principles generally accepted in the United States of America ( “ US GAAP”) for interim financial information and the applicable rules and regulations of the U.S. Securities and Exchange Commission ( “ SEC”). Certain information and notes have been condensed or omitted as permitted by those rules and regulations. The preparation of our condensed consolidated financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Management believes the accompanying financial statements contain all adjustments, which are of a normal recurring nature unless otherwise noted, necessary for a fair statement of the results for the interim periods presented. The Company’s results of operations and cash flows for the interim periods are not necessarily indicative of results to be expected for the full year. These financial statements should be read in conjunction with the audited consolidated financial statements and notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2015 . Customer Contract Termination and Settlement On May 23, 2016, the Company reached an agreement with Freeport-McMoRan Oil and Gas LLC (“FMOG”) and its parent company, Freeport-McMoRan Inc. (“FCX”) in connection with the drilling contract for the drillship Rowan Relentless (“FMOG Agreement”), which was scheduled to terminate in June 2017. The FMOG Agreement provided that the drilling contract be terminated immediately, and that FCX pay the Company $215 million to settle outstanding receivables and early termination of the contract, of which $85 million was received through June 30, 2016 and the remaining $130 million was received in the third quarter 2016. In addition, the Company may also receive two additional contingent payments from FCX, payable on September 30, 2017, of $10 million and $20 million depending on the average price of West Texas Intermediate (“WTI”) crude oil over a 12 -month period beginning June 30, 2016. The $10 million payment will be due if the average price over the period is greater than $50 per barrel and the additional $20 million payment will be due if the average price over the period is greater than $65 per barrel (“FMOG Provision”) (See Note 6). The Company warm-stacked the Rowan Relentless in order to reduce costs. During the quarter ended June 30, 2016, the Company recognized $173.2 million in revenue for the Rowan Relentless , including $130.9 million for the cancelled contract value, $6.2 million for the fair value of the derivative associated with the FMOG Provision (See Note 6), $5.6 million for previously deferred revenue related to the contract, and $30.5 million for operations through May 22, 2016. Day Rate Concessions On June 1, 2016, the Company executed a contract extension for the Rowan Viking of 270 days for $275,000 per day following the primary term of the original contract in exchange for day rate concessions reducing the day rate for the primary term from $345,528 per day to $275,000 per day. This reduced day rate was applied to January 1, 2016 through November 6, 2017, and as a result, the Company recorded a reduction to revenue for amounts earned under this contract during the period from January 1, 2016 through March 31, 2016 of $6.3 million in the second quarter of 2016. Customer Contract Amendment On September 15, 2016 , the Company amended its contract with Cobalt International Energy, L.P. (“Cobalt”), for the drillship Rowan Reliance , which was scheduled to conclude on February 1, 2018. The amendment provides that the Company will receive cash settlement payments totaling $95.9 million , that the drillship remains at its current day rate of approximately $582,000 and that the drilling contract may be terminated as early as March 31, 2017. The Company received cash payments of $45.0 million on September 15, 2016 and $31.3 million on October 3, 2016, and expects to receive a final cash payment of $19.6 million on or before March 31, 2017. In addition, if Cobalt continues its operations with the Rowan Reliance after March 31, 2017, the day rate will be reduced to approximately $262,000 per day for the remaining operating days through February 1, 2018 (subject to further adjustment thereafter). Cobalt International Energy, Inc., the parent of Cobalt, also committed to use the Company as its exclusive provider of comparable drilling services for a period of five years . As the Company has the obligation and intent to have the drillship or a substitute available through the pre-amended contract scheduled end date, in certain circumstances, the $95.9 million settlement was recorded as a deferred revenue liability. As of September 30, 2016, $57.5 million and $38.4 million of the deferred revenue liability is classified as current and noncurrent, respectively, and is included in Deferred Revenue, and Other Liabilities, respectively, in the Condensed Consolidated Balance Sheet. Amortization of deferred revenue will begin on April 1, 2017 and extend no further than the pre-amended contract scheduled end date. New Accounting Pronouncements Revenue Recognition – In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2014-09, Revenue from Contracts with Customers, which sets forth a global standard for revenue recognition and replaces most existing industry-specific guidance. We will be required to adopt the new standard in annual and interim periods beginning January 1, 2018. The amendments may be applied using a retrospective, modified retrospective or prospective with a cumulative catch-up approach. We are evaluating the standard and have not yet determined our implementation method upon adoption or what impact adoption will have on our financial statements. Presentation of Deferred Taxes – In November 2015, the FASB issued ASU No. 2015-17, Balance Sheet Classification of Deferred Taxes, which requires entities to present deferred tax assets and deferred tax liabilities in balance sheets as noncurrent. We will be required to adopt the new standard in annual and interim periods beginning January 1, 2017. The amendments in this ASU may be applied either prospectively to all deferred tax liabilities and assets or retrospectively to all periods presented. We are evaluating the standard and have not yet determined our implementation method. Lease Accounting – In February 2016, the FASB issued ASU No. 2016-02, Leases, which requires the balance sheet recognition of lease assets and lease liabilities by lessees for leases previously classified as operating leases under prior GAAP. We will be required to adopt the new standard in annual and interim periods beginning January 1, 2019. Lessees and lessors will be required to recognize and measure leases at the beginning of the earliest period presented using a modified retrospective approach, including a number of optional practical expedients that entities may elect to apply. We are evaluating the standard and have not yet determined our implementation method upon adoption or what impact adoption will have on our consolidated financial statements. Stock Compensation – In March 2016, the FASB issued ASU No. 2016-09, Improvements to Employee Share-based Payment Accounting, which simplifies several aspects of accounting for employee share-based payment awards, including the accounting for income taxes, withholding taxes and forfeitures, as well as classification on the statement of cash flows. We will be required to adopt the amended guidance in annual and interim reports beginning January 1, 2017, with early adoption permitted. We are in the process of determining the method of adoption and the impact this amendment will have on our consolidated financial statements . Financial Instruments – In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, which amends the FASB's guidance on the impairment of financial instruments. The ASU adds to US GAAP an impairment model that is based on expected losses rather than incurred losses. Under the new guidance, an entity recognizes as an allowance its estimate of expected credit losses. We will be required to adopt the amended guidance in annual and interim reports beginning January 1, 2020, with early adoption permitted for fiscal years beginning after December 15, 2018. We are in the process of evaluating the impact this amendment will have on our consolidated financial statements . Statement of Cash Flows - In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments, which provides guidance on eight cash flow classification issues with the objective of reducing differences in practice. We will be required to adopt the amendments in this ASU in annual and interim periods beginning January 1, 2018, with early adoption permitted. Adoption is required to be on a retrospective basis, unless impracticable for any of the amendments, in which case a prospective application is permitted. We are in the process of evaluating the impact these amendments will have on our consolidated financial statements. Income Taxes - In October 2016, the FASB issued ASU 2016-16, Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other than Inventory , which eliminates the exception that prohibits the recognition of current and deferred income tax effects for intra-entity transfers of assets other than inventory until the asset has been sold to an outside party. We will be required to adopt the amendments in this ASU in the annual and interim periods beginning January 1, 2018, with early adoption permitted at the beginning of an annual reporting period for which financial statements (interim or annual) have not been issued or made available for issuance. The application of the amendments will require the use of a modified retrospective basis through a cumulative-effect adjustment to retained earnings as of the beginning of the period of adoption. We are evaluating the standard and the impact it will have on our consolidated financial statements .

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2016
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share The following table sets forth a reconciliation of basic and diluted shares (in millions): Three months ended September 30, Nine months ended September 30, 2016 2015 2016 2015 Average common shares outstanding 125.4 124.8 125.3 124.5 Effect of dilutive securities - share-based compensation 1.3 — 1.1 — Average shares for diluted computations 126.7 124.8 126.4 124.5 Share options, share appreciation rights and restricted share units granted under share-based compensation plans are anti-dilutive and excluded from diluted earnings per share when the hypothetical number of shares that could be repurchased under the treasury stock method exceeds the number of shares that can be exercised, or when the Company reports a net loss from continuing operations. Anti-dilutive shares, which could potentially dilute earnings per share in the future, are set forth below (in millions): Three months ended September 30, Nine months ended September 30, 2016 2015 2016 2015 Share options and appreciation rights 1.6 1.3 1.7 1.4 Restricted share units 0.7 1.2 1.3 1.7 Total potentially dilutive shares 2.3 2.5 3.0 3.1

Pension and Other Postretiremen

Pension and Other Postretirement Benefits	9 Months Ended
	Sep. 30, 2016
Compensation and Retirement Disclosure [Abstract]
Pension and Other Postretirement Benefits	Pension and Other Postretirement Benefits The Company provides defined-benefit pension, health care and life insurance benefits upon retirement for certain full-time employees. Net periodic pension cost recognized during the periods included the following components (in millions): Three months ended September 30, Nine months ended September 30, 2016 2015 2016 2015 Service cost $ 4.6 $ 4.3 $ 12.2 $ 12.7 Interest cost 6.7 8.0 19.7 23.8 Expected return on plan assets (9.9 ) (10.6 ) (29.7 ) (31.5 ) Amortization of net loss 5.6 6.4 15.8 19.1 Amortization of prior service credit (1.2 ) (1.1 ) (3.7 ) (3.4 ) Total net pension cost $ 5.8 $ 7.0 $ 14.3 $ 20.7 Other postretirement benefit cost recognized during the periods included the following components (in millions): Three months ended September 30, Nine months ended September 30, 2016 2015 2016 2015 Service cost $ — $ 0.3 $ 0.2 $ 1.0 Interest cost 0.4 0.7 1.4 2.1 Amortization of net loss 0.2 — 0.2 — Amortization of prior service credit (2.9 ) — (3.1 ) — Total other postretirement benefit cost $ (2.3 ) $ 1.0 $ (1.3 ) $ 3.1 On August 10, 2016, the Company communicated changes to the participants of its postretirement benefits plan that was previously frozen to new entrants in 2008. Based on these changes, effective as of January 1, 2017, eligible participants will now receive a health reimbursement account that provides a fixed dollar benefit per year. The impact of these changes to the plan and related, as of August 10, 2016, are presented in the table below (in millions): Liability increase (decrease) Accumulated other comprehensive income (loss) Deferred tax liability increase (decrease) Plan change benefit $ (39.9 ) $ 25.9 $ 14.0 Remeasurement loss 5.2 (3.4 ) (1.8 ) Actuarial loss 5.2 (3.3 ) (1.9 ) Total $ (29.5 ) $ 19.2 $ 10.3 The Company records unrealized gains and losses related to net periodic pension and other postretirement benefit cost net of estimated taxes in Accumulated other comprehensive income (loss). The Company has a valuation allowance against its net U.S. deferred tax asset that is not expected to be realized. A portion of this valuation allowance is related to deferred tax benefits or expense as recorded in Accumulated other comprehensive income (loss). During the nine months ended September 30, 2016 , the Company contributed $22.7 million to its pension and other postretirement benefit plans and expects to make additional contributions to such plans totaling approximately $8.2 million for the remainder of 2016 .

Commitments and Contingent Liab

Commitments and Contingent Liabilities	9 Months Ended
	Sep. 30, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingent Liabilities	Commitments and Contingent Liabilities Uncertain tax positions – We have been advised by the U.S. Internal Revenue Service of proposed unfavorable tax adjustments of $85 million including applicable penalties for the open tax years 2009 through 2012. The unfavorable tax adjustments primarily related to the following items: 2009 tax benefits recognized as a result of applying the facts of a third-party tax case that provided favorable tax treatment for certain foreign contracts entered into in prior years to the Company’s situation; transfer pricing; and domestic production activity deduction. We have submitted a formal protest in response to these unfavorable proposed tax adjustments. In years subsequent to 2012, we have similar positions that could be subject to adjustments for the open years. We have provided for amounts that we believe will be ultimately payable under the proposed adjustments and intend to vigorously defend our positions; however, if we determine the provisions for these matters to be inadequate due to new information or we are required to pay a significant amount of additional U.S. taxes and applicable penalties and interest in excess of amounts that have been provided for these matters, our consolidated results of operations and cash flows could be materially and adversely affected. The gross unrecognized tax benefits excluding penalties and interest are $119 million and $65 million as of September 30, 2016 and December 31, 2015, respectively. The increase to gross unrecognized tax benefits was primarily due to tax positions taken of $7 million related to current year-to-date anticipated transfer pricing positions and $42 million related to prior year U.S. interest deductions. Reversal of net unrecognized tax benefits excluding penalties and interest would impact our tax by $66 million . It is reasonable that the existing liabilities for the unrecognized tax benefits may increase or decrease over the next 12 months as a result of audit closures and statute expirations, however, the ultimate timing of the resolution and/or closure of audits is highly uncertain. Letters of credit – We periodically employ letters of credit in the normal course of our business, and had outstanding letters of credit of approximately $9.5 million at September 30, 2016 . Pending or threatened litigation – We are involved in various legal proceedings incidental to our business and are vigorously defending our position in all such matters. Although the outcome of such proceedings cannot be predicted with certainty, we do not expect resolution of these matters to have a material effect on our financial position, results of operations or cash flows.

Share-Based Compensation

Share-Based Compensation	9 Months Ended
	Sep. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share-Based Compensation	Share-Based Compensation On February 25, 2016, the Company granted restricted share units (“RSUs”) to employees for annual incentive awards pursuant to our long-term incentive plan with a grant-date fair value aggregating $19.3 million . The awards vest ratably over three years except to the extent they may vest earlier under our retirement policy. The aggregate grant-date fair value, net of estimated forfeitures, was $18.2 million , which will be recognized as compensation expense over a weighted-average period of 2.6 years from the grant date. Additionally, on February 25, 2016, the Company granted to certain members of management performance units (“P-Units”) that have a target value of $100 per unit. The amount ultimately earned with respect to the P-Units will depend on the Company’s total shareholder return (“TSR”) relative to a group of peer companies over a three -year period ending December 31, 2018, and could range from zero to $200 per unit depending on performance. Twenty-five percent of the P-Units’ value is determined by the Company’s relative TSR ranking for each one -year period ended December 31, 2016 , 2017 , and 2018 , respectively, and 25% of the P-Units’ value is determined by the relative TSR ranking for the three -year period ending December 31, 2018. The P-Units cliff vest on the third anniversary following the grant date. Settlement may be in cash or shares at the Board's discretion. The grant-date fair value of the P-Units was estimated to be $8.6 million . Fair value was estimated using a Monte Carlo simulation model, which considers the probabilities of the Company’s TSR ranking at the end of each performance period and the amount of the payout at each rank to determine the probability-weighted expected payout. The Company uses liability accounting to account for the P-Units. Compensation is recognized on a straight-line basis over a maximum period of three years from the grant date and is adjusted for changes in fair value through the vesting date. Estimated liabilities for P-Units as of September 30, 2016 , included $9.8 million and $10.6 million classified as current and noncurrent, respectively, compared to $7.6 million and $11.4 million , respectively, at December 31, 2015 . Current and noncurrent estimated P-Unit liabilities are included in Accrued Liabilities, and Other Liabilities, respectively, in the Condensed Consolidated Balance Sheets. At September 30, 2016 , estimated unrecognized share-based compensation totaled approximately $36.9 million , which is expected to be recognized as compensation expense over a remaining weighted-average period of 1.7 years .

Derivatives

Derivatives	9 Months Ended
	Sep. 30, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives	Derivatives The Company determined that the FMOG Provision of the FMOG Agreement is a freestanding financial instrument and that it met the criteria of a derivative instrument (“Contingent Payment Derivative”). The Contingent Payment Derivative was initially recorded to revenue at a fair value of $6.2 million on May 23, 2016, and will be revalued at each reporting date with changes in the fair value reported as non-operating income or expense. The fair value of the Contingent Payment Derivative was determined using a Monte Carlo simulation (See Note 7). The following table provides the fair value of the Company’s derivative as reflected in the Condensed Consolidated Balance Sheet (in millions): Fair value Balance sheet classification September 30, 2016 Derivative: Contingent Payment Derivative Prepaid expenses and other current assets $ 4.2 The following table provides the revaluation effect of the Company’s derivative on the Condensed Consolidated Statements of Operations (in millions): Amount of gain (loss) recognized in income (loss) Derivative Classification of gain (loss) recognized in income (loss) Three months ended September 30, 2016 Nine months ended September 30, 2016 Contingent Payment Derivative Other - net $ (2.2 ) $ (2.0 )

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2016
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The fair value hierarchy prescribed by US GAAP requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The three levels of inputs that may be used to measure fair value are: • Level 1 – Quoted prices for identical instruments in active markets; • Level 2 – Quoted market prices for similar instruments in active markets; quoted prices for identical instruments in markets that are not active, and model-derived valuations in which all significant inputs and significant value drivers are observable in active markets; and • Level 3 – Valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable, such as those used in pricing models or discounted cash flow methodologies, for example. The applicable level within the fair value hierarchy is the lowest level of any input that is significant to the fair value measurement. Derivative The fair value of the Contingent Payment Derivative (Level 3) was estimated using a Monte Carlo simulation model, which calculates the probabilities of the daily closing WTI spot price exceeding the $50 price target and the $65 price target (“Price Targets”), respectively, on a daily averaging basis during the 12 -month payment measurement period ending on June 30, 2017. The probabilities are applied to the payout at each Price Target to calculate the probability-weighted expected payout. The following are the significant inputs used in the valuation of the Contingent Payment Derivative: the WTI Spot Price on the valuation date, the expected volatility, and the risk-free interest rate, and the slope of the WTI forward curve, which were $47.48 , 37.5% , 0.765% and 5.5% at May 23, 2016, respectively and $48.24 , 34.85% , 0.589% , and 9.25% at September 30, 2016 , respectively. The expected volatility was estimated from the implied volatility rates of WTI Crude Futures. The risk-free rate was based on yields of U.S. Treasury securities commensurate with the remaining term of the Contingent Payment Derivative. Assets and Liabilities Measured at Fair Value on a Recurring Basis Assets and liabilities measured at fair value on a recurring basis are summarized below (in millions): Estimated fair value measurements Fair value Quoted prices in active markets (Level 1) Significant other observable inputs (Level 2) Significant other unobservable inputs (Level 3) September 30, 2016: Assets - cash equivalents $ 1,022.8 $ 1,022.8 $ — $ — Derivative 4.2 — — 4.2 Other assets 9.1 9.1 — — December 31, 2015: Assets - cash equivalents $ 465.4 $ 465.4 $ — $ — Other assets 13.5 13.5 — — At September 30, 2016 , the Company held a Contingent Payment Derivative in the amount of $4.2 million , which is classified as Prepaid Expenses and Other Current Assets on the Condensed Consolidated Balance Sheet. At September 30, 2016 and December 31, 2015 , we held Egyptian pounds in the amount of $9.1 million and $13.5 million , respectively, which are classified as Other Assets on the Condensed Consolidated Balance Sheets. We ceased drilling operations in Egypt in 2014, and are currently working to obtain access to the funds for use outside Egypt to the extent they are not utilized. We can provide no assurance we will be able to convert or utilize such funds in the future. Trade receivables and trade payables, which are required to be measured at fair value, have carrying values that approximate their fair values due to their short maturities. Assets Measured at Fair Value on a Nonrecurring Basis Assets measured at fair value on a nonrecurring basis and whose carrying values were remeasured during the nine months ended September 30 are set forth below (in millions): Estimated fair value measurements Fair value Quoted prices in active markets (Level 1) Significant other observable inputs (Level 2) Significant other unobservable inputs (Level 3) Total gains (losses) 2016: Property and equipment, net (1) $ 9.3 $ — $ — $ 9.3 $ (34.3 ) 2015: Property and equipment, net (2) $ 128.0 $ — $ — $ 128.0 $ (329.8 ) (1) This represents a non-recurring fair value measurement made at September 30, 2016 for five of our jack-up drilling units. (2) This represents a non-recurring fair value measurement made at September 30, 2015 for ten of our jack-up drilling units. During the quarter ended September 30, 2016, we conducted an impairment test of our assets and determined that the carrying values for five of our jack-up drilling units were not recoverable from their undiscounted cash flows and exceeded the rigs' estimated fair values measured under an income approach. As a result, we recognized a noncash impairment charge of $34.3 million which is included in Material Charges and Other Operating Items on the Condensed Consolidated Statements of Operations for the three and nine months ended September 30, 2016. During the quarter ended September 30, 2015, we conducted an impairment test of our assets and determined that the carrying values for ten of our jack-up drilling units were not recoverable from their undiscounted cash flows and exceeded the rigs' estimated fair values measured under an income approach. As a result, we recognized a noncash impairment charge of $329.8 million which is included in Material Charges and Other Operating Items on the Condensed Consolidated Statements of Operations for the three and nine months ended September 30, 2015. In each case, our estimate of fair value required us to use significant unobservable inputs, which are internally developed assumptions not observable in the market, including assumptions related to future demand for drilling services, estimated availability of rigs, and future day rates, among others. Other Fair Value Measurements Financial instruments not required to be measured at fair value consist of the Company’s publicly traded debt securities. Our publicly traded debt securities had a carrying value of $2.646 billion at September 30, 2016 , and an estimated fair value at that date aggregating $2.223 billion , compared to a carrying and fair value of $2.692 billion and $2.072 billion , respectively, at December 31, 2015 . Fair values of our publicly traded debt securities were provided by a broker who makes a market in such securities and were measured using a market-approach valuation technique, which is a Level 2 fair value measurement.

Shareholders' Equity

Shareholders' Equity	9 Months Ended
	Sep. 30, 2016
Equity [Abstract]
Shareholders' Equity	Shareholders' Equity Reclassifications from Accumulated Other Comprehensive Loss – The following table sets forth the significant amounts reclassified out of each component of accumulated other comprehensive loss and the effect on net income (loss) for the period (in millions): Three months ended September 30, Nine months ended September 30, 2016 2015 2016 2015 Amounts recognized as a component of net periodic pension and other postretirement benefit cost: Amortization of net loss $ (5.8 ) $ (6.5 ) $ (16.0 ) $ (19.1 ) Amortization of prior service credit 4.3 1.2 6.8 3.4 Total before income taxes (1.5 ) (5.3 ) (9.2 ) (15.7 ) Income tax benefit 0.5 1.9 3.2 5.5 Total reclassifications for the period, net of income taxes $ (1.0 ) $ (3.4 ) $ (6.0 ) $ (10.2 ) The Company records unrealized gains and losses related to net periodic pension and other postretirement benefit cost net of estimated taxes in Accumulated other comprehensive income (loss). The Company has a valuation allowance against its net U.S. deferred tax asset that is not expected to be realized. A portion of this valuation allowance is related to deferred tax benefits or expense as recorded in Accumulated other comprehensive income (loss).

Other Financial Statement Discl

Other Financial Statement Disclosures	9 Months Ended
	Sep. 30, 2016
Other Financial Statement Disclosures [Abstract]
Other Financial Statement Disclosures	Other Financial Statement Disclosures Accounts Receivable – The following table sets forth the components of receivables - trade and other (in millions): September 30, 2016 December 31, 2015 Trade $ 426.9 $ 395.7 Income tax 6.6 4.5 Other 7.0 10.3 Total receivables - trade and other $ 440.5 $ 410.5 Accrued Liabilities – The following table sets forth the components of accrued liabilities (in millions): September 30, 2016 December 31, 2015 Pension and other postretirement benefits $ 14.0 $ 31.4 Compensation and related employee costs 61.1 73.6 Interest 34.2 44.3 Income taxes 37.6 23.9 Other 13.2 12.8 Total accrued liabilities $ 160.1 $ 186.0 Long-term Debt – Long-term debt consisted of the following (in millions): September 30, 2016 December 31, 2015 5% Senior Notes, due September 2017 ($357.7 million and $366.6 million principal amount, respectively; 5.2% effective rate) $ 357.1 $ 365.5 7.875% Senior Notes, due August 2019 ($396.5 million and $435.5 million principal amount, respectively; 8.0% effective rate) 394.7 432.9 4.875% Senior Notes, due June 2022 ($700 million principal amount; 4.7% effective rate) 705.5 706.2 4.75% Senior Notes, due January 2024 ($400 million principal amount; 4.8% effective rate) 397.3 397.1 5.4% Senior Notes, due December 2042 ($400 million principal amount; 5.4% effective rate) 394.9 394.7 5.85% Senior Notes, due January 2044 ($400 million principal amount; 5.9% effective rate) 396.1 396.0 Total carrying value 2,645.6 2,692.4 Current portion 357.1 — Carrying value, less current portion $ 2,288.5 $ 2,692.4 In the first quarter of 2016, we paid $15.9 million in cash to retire $16.5 million aggregate principal amount of the 5% Senior Notes due 2017 and 7.875% Senior Notes due 2019, plus accrued interest, and recognized a $0.6 million gain on early extinguishment of debt. Also during the first quarter of 2016, we repurchased an additional $21.4 million aggregate principal amount of the 5% and 7.875% Senior Notes, which settled in April 2016 and resulted in a $1.2 million gain on early extinguishment of debt in the second quarter of 2016. In April 2016, we repurchased $10.0 million aggregate principal amount of the 7.875% Senior Notes which resulted in a $0.6 million gain on early extinguishment of debt in the second quarter of 2016. Supplemental Cash Flow Information – Accrued capital expenditures, which are excluded from capital expenditures in the Condensed Consolidated Statements of Cash Flows until settlement, totaled $23.2 million and $36.5 million at September 30, 2016 and 2015 , respectively. Interest capitalized in connection with rig construction projects totaled $16.2 million in the nine months ended September 30, 2015. We did not capitalize any interest for the three months ended September 30, 2015 and the three and nine months ended September 30, 2016 . Income Taxes – In accordance with US GAAP for interim reporting, the Company estimates its full-year effective tax rate and applies this rate to its year-to-date pretax income. In addition, the Company separately calculates the tax impact of unusual items, if any. We provide for income taxes based upon the tax laws and rates in effect in the countries in which we conduct operations. The amounts of our provisions are impacted by such laws and rates and the availability of deductions, credits and other benefits in each of the various jurisdictions. Our overall effective tax rate may therefore vary considerably from quarter to quarter and from year to year based on the actual or projected location of operations, levels of income, our consolidated effective income tax rate, deferred intercompany gains or losses, and other factors. We recognized tax benefits of $12.2 million and tax expense of $14.7 million for the three and nine months ended September 30, 2016 , respectively, compared to tax expense of $25.9 million and $50.9 million for the comparable periods in 2015 . Our effective tax rate was 181.2% as a result of a tax benefit on a pre-tax loss and 4.1% as a result of tax expense on pre-tax income, respectively, for the three and nine months ended September 30, 2016 , compared to (12.2)% as a result of tax expense on a pre-tax loss and 256.2% as a result of tax expense on pre-tax income, respectively, for the comparable prior-year periods ended September 30, 2015 . The decrease in tax expense of $38.1 million resulting in a tax benefit and the decrease in tax expense of $36.2 million for the three and nine month periods compared to the prior-year periods is primarily attributed to: • the prior-year period’s discrete tax expense for the establishment of a full valuation allowance on the U.S. deferred tax assets; • the current period discrete tax benefit for the decrease in the U.S. valuation allowance due to additional current earnings in other comprehensive income related to the change in our postretirement benefit plan; • a change in the geographic mix of earnings including a reduction of income in the high tax jurisdictions; and • a partial offset by the prior-year period’s discrete additional tax benefit for the U.S. -impaired assets. The Company has not provided for deferred income taxes on undistributed earnings of its non-U.K. subsidiaries, including non-U.S. entities under Rowan Companies, Inc. (“RCI”). It is the Company’s policy and intention to permanently reinvest outside the U.S. the earnings of non-U.S. entities directly or indirectly owned by RCI. Generally, earnings of non-U.K. entities in which RCI does not have a direct or indirect ownership interest can be distributed to the Company without imposition of either U.K. or local country tax. Material Charges and Other Operating Items – Material charges for the three and nine months ended September 30, 2016 include (i) non-cash asset impairment charges totaling $34.3 million on five jack-up drilling units (See Note 7) and (ii) a $1.4 million reversal of an estimated liability for settlement of a withholding tax matter during a tax amnesty period which was related to a legal settlement for a 2014 termination of a contract for refurbishment work on the Rowan Gorilla III , as noted below in the 2015 periods. Payment of such withholding taxes during the tax amnesty period resulted in the waiver of applicable penalties and interest. Material charges for the three and nine months ended September 30, 2015 includes (i) non-cash asset impairment charges totaling $329.8 million on ten jack-up drilling units (See Note 7) and (ii) adjustments of $2.6 million and $7.6 million , respectively, to an estimated liability for the 2014 contract termination in connection with refurbishment work on the Rowan Gorilla III . A settlement agreement for this matter was signed during the third quarter of 2015.

Segment Information

Segment Information	9 Months Ended
	Sep. 30, 2016
Segment Reporting [Abstract]
Segment Information	Segment Information We operate in two principal operating segments – deepwater, which consists of our drillship operations, and jack-ups. Both segments provide one service – contract drilling. The Company evaluates performance primarily based on income from operations. Depreciation and amortization and selling, general and administrative expenses related to our corporate function and other administrative offices have not been allocated to our operating segments for purposes of measuring segment operating income and are included in “Unallocated costs and other.” “Other operating items” consists of non-cash impairment charges, and gains and losses on equipment sales and litigation and related. Segment information for the three and nine months ended September 30, 2016 and 2015 is set forth below (in millions): Three months ended September 30, Nine months ended September 30, 2016 2015 2016 2015 Deepwater: Revenues $ 135.1 $ 220.9 $ 699.0 $ 529.7 Operating expenses: Direct operating costs (excluding items below) 52.4 77.8 175.4 207.3 Depreciation and amortization 28.8 27.6 86.0 66.4 Selling, general and administrative — — — — Other operating items 0.1 — 0.4 — Income from operations $ 53.8 $ 115.5 $ 437.2 $ 256.0 Jack-ups: Revenues $ 244.3 $ 324.5 $ 792.4 $ 1,071.5 Operating expenses: Direct operating costs (excluding items below) 133.6 169.8 422.9 550.0 Depreciation and amortization 71.5 73.2 211.0 213.2 Selling, general and administrative — — — — Other operating items 33.6 333.5 37.3 338.5 Income (loss) from operations $ 5.6 $ (252.0 ) $ 121.2 (30.2 ) Unallocated costs and other: Revenues $ — $ — $ — $ — Operating expenses: Direct operating costs (excluding items below) — — — — Depreciation and amortization 1.9 3.3 4.2 9.6 Selling, general and administrative 23.5 29.7 76.5 88.4 Other operating items 0.4 1.1 0.5 0.9 Loss from operations $ (25.8 ) $ (34.1 ) $ (81.2 ) $ (98.9 ) Consolidated: Revenues $ 379.4 $ 545.4 $ 1,491.4 $ 1,601.2 Operating expenses: Direct operating costs (excluding items below) 186.0 247.6 598.3 757.3 Depreciation and amortization 102.2 104.1 301.2 289.2 Selling, general and administrative 23.5 29.7 76.5 88.4 Other operating items 34.1 334.6 38.2 339.4 Income (loss) from operations $ 33.6 $ (170.6 ) $ 477.2 $ 126.9

Guarantees of Registered Securi

Guarantees of Registered Securities	9 Months Ended
	Sep. 30, 2016
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Guarantees of Registered Securities	Guarantees of Registered Securities RCI, a 100% -owned Delaware subsidiary of Rowan plc, is the issuer of all of our publicly traded debt securities consisting of the following series: 5% Senior Notes due 2017; 7.875% Senior Notes due 2019; 4.875% Senior Notes due 2022; 4.75% Senior Notes due 2024; 5.4% Senior Notes due 2042; and 5.85% Senior Notes due 2044 (the “Senior Notes”). The Senior Notes and amounts outstanding under our revolving credit facility are guaranteed by Rowan plc on a full, unconditional and irrevocable basis. The condensed consolidating financial information that follows is presented on the equity method of accounting in accordance with Rule 3-10 of Regulation S-X in connection with Rowan plc’s guarantee of the Senior Notes. Rowan Companies plc and Subsidiaries Condensed Consolidating Balance Sheets September 30, 2016 (In millions) (Unaudited) Rowan plc (Parent) RCI (Issuer) Non-guarantor subsidiaries Consolidating adjustments Consolidated CURRENT ASSETS: Cash and cash equivalents $ 5.1 $ 359.8 $ 672.6 $ — $ 1,037.5 Receivables - trade and other — 1.3 439.2 — 440.5 Prepaid expenses and other current assets 0.5 18.4 9.7 — 28.6 Total current assets 5.6 379.5 1,121.5 — 1,506.6 Property and equipment - gross — 616.5 8,473.9 — 9,090.4 Less accumulated depreciation and amortization — 264.6 1,682.5 — 1,947.1 Property and equipment - net — 351.9 6,791.4 — 7,143.3 Investments in subsidiaries 5,155.9 6,186.8 — (11,342.7 ) — Due from affiliates 0.7 578.9 58.2 (637.8 ) — Other assets — 4.8 10.3 — 15.1 $ 5,162.2 $ 7,501.9 $ 7,981.4 $ (11,980.5 ) $ 8,665.0 CURRENT LIABILITIES: Current portion of long-term debt $ — $ 357.1 $ — $ — $ 357.1 Accounts payable - trade 0.6 18.9 62.7 — 82.2 Deferred revenues — — 78.4 — 78.4 Accrued liabilities 0.3 90.1 69.7 — 160.1 Total current liabilities 0.9 466.1 210.8 — 677.8 Long-term debt, less current portion — 2,288.5 — — 2,288.5 Due to affiliates 0.1 59.1 578.6 (637.8 ) — Other liabilities 4.0 277.2 75.5 — 356.7 Deferred income taxes - net — 540.3 144.0 (499.5 ) 184.8 Shareholders' equity 5,157.2 3,870.7 6,972.5 (10,843.2 ) 5,157.2 $ 5,162.2 $ 7,501.9 $ 7,981.4 $ (11,980.5 ) $ 8,665.0 Rowan Companies plc and Subsidiaries Condensed Consolidating Balance Sheets December 31, 2015 (In millions) Rowan plc (Parent) RCI (Issuer) Non-guarantor subsidiaries Consolidating adjustments Consolidated CURRENT ASSETS: Cash and cash equivalents $ 17.3 $ 9.5 $ 457.4 $ — $ 484.2 Receivables - trade and other 0.1 1.4 409.0 — 410.5 Prepaid expenses and other current assets 0.4 19.3 6.9 — 26.6 Total current assets 17.8 30.2 873.3 — 921.3 Property and equipment - gross — 592.8 8,475.3 — 9,068.1 Less accumulated depreciation and amortization — 242.7 1,419.6 — 1,662.3 Property and equipment - net — 350.1 7,055.7 — 7,405.8 Investments in subsidiaries 4,763.3 6,028.2 — (10,791.5 ) — Due from affiliates 0.6 1,218.2 55.8 (1,274.6 ) — Other assets — 5.0 15.2 — 20.2 $ 4,781.7 $ 7,631.7 $ 8,000.0 $ (12,066.1 ) $ 8,347.3 CURRENT LIABILITIES: Accounts payable - trade $ 1.0 $ 19.1 $ 89.5 $ — $ 109.6 Deferred revenues — — 33.1 — 33.1 Accrued liabilities 0.7 119.4 65.9 — 186.0 Total current liabilities 1.7 138.5 188.5 — 328.7 Long-term debt, less current portion — 2,692.4 — — 2,692.4 Due to affiliates 2.9 55.8 1,215.9 (1,274.6 ) — Other liabilities 4.6 304.7 48.6 — 357.9 Deferred income taxes - net — 522.9 150.8 (477.9 ) 195.8 Shareholders' equity 4,772.5 3,917.4 6,396.2 (10,313.6 ) 4,772.5 $ 4,781.7 $ 7,631.7 $ 8,000.0 $ (12,066.1 ) $ 8,347.3 Rowan Companies plc and Subsidiaries Condensed Consolidating Statements of Operations Three months ended September 30, 2016 (In millions) (Unaudited) Rowan plc (Parent) RCI (Issuer) Non-guarantor subsidiaries Consolidating adjustments Consolidated REVENUES $ — $ 5.4 $ 378.5 $ (4.5 ) $ 379.4 COSTS AND EXPENSES: Direct operating costs (excluding items below) — (2.0 ) 191.3 (3.3 ) 186.0 Depreciation and amortization — 5.3 96.7 0.2 102.2 Selling, general and administrative 5.7 — 19.2 (1.4 ) 23.5 Loss on disposals of property and equipment — 0.5 0.7 — 1.2 Material charges and other operating items — — 32.9 — 32.9 Total costs and expenses 5.7 3.8 340.8 (4.5 ) 345.8 INCOME (LOSS) FROM OPERATIONS (5.7 ) 1.6 37.7 — 33.6 OTHER INCOME (EXPENSE): Interest expense, net of interest capitalized — (39.4 ) (0.6 ) 0.6 (39.4 ) Interest income — 1.0 0.8 (0.6 ) 1.2 Other - net 5.4 (5.4 ) (2.1 ) — (2.1 ) Total other income (expense), net 5.4 (43.8 ) (1.9 ) — (40.3 ) INCOME (LOSS) BEFORE INCOME TAXES (0.3 ) (42.2 ) 35.8 — (6.7 ) Benefit for income taxes — (2.9 ) (5.2 ) (4.1 ) (12.2 ) Equity in earnings of subsidiaries, net of tax 5.8 (158.1 ) — 152.3 — NET INCOME (LOSS) $ 5.5 $ (197.4 ) $ 41.0 $ 156.4 $ 5.5 Rowan Companies plc and Subsidiaries Condensed Consolidating Statements of Operations Three months ended September 30, 2015 (In millions) (Unaudited) Rowan plc (Parent) RCI (Issuer) Non-guarantor subsidiaries Consolidating adjustments Consolidated REVENUES $ — $ 15.9 $ 543.5 $ (14.0 ) $ 545.4 COSTS AND EXPENSES: Direct operating costs (excluding items below) — 1.0 259.4 (12.8 ) 247.6 Depreciation and amortization — 6.8 97.2 0.1 104.1 Selling, general and administrative 5.5 (1.8 ) 27.3 (1.3 ) 29.7 Loss on disposals of property and equipment — 0.5 1.8 — 2.3 Material charges and other operating items — — 332.3 — 332.3 Total costs and expenses 5.5 6.5 718.0 (14.0 ) 716.0 INCOME (LOSS) FROM OPERATIONS (5.5 ) 9.4 (174.5 ) — (170.6 ) OTHER INCOME (EXPENSE): Interest expense, net of interest capitalized — (41.3 ) (14.0 ) 14.0 (41.3 ) Interest income 0.6 13.1 0.5 (14.0 ) 0.2 Other - net 5.6 (5.7 ) (1.7 ) — (1.8 ) Total other income (expense), net 6.2 (33.9 ) (15.2 ) — (42.9 ) INCOME (LOSS) BEFORE INCOME TAXES 0.7 (24.5 ) (189.7 ) — (213.5 ) Provision (benefit) for income taxes — 24.8 (11.8 ) 12.9 25.9 Equity in earnings of subsidiaries, net of tax (240.1 ) (182.1 ) — 422.2 — NET LOSS $ (239.4 ) $ (231.4 ) $ (177.9 ) $ 409.3 $ (239.4 ) Rowan Companies plc and Subsidiaries Condensed Consolidating Statements of Operations Nine months ended September 30, 2016 (In millions) (Unaudited) Rowan plc (Parent) RCI (Issuer) Non-guarantor subsidiaries Consolidating adjustments Consolidated REVENUES $ — $ 41.3 $ 1,488.0 $ (37.9 ) $ 1,491.4 COSTS AND EXPENSES: Direct operating costs (excluding items below) — 5.2 627.0 (33.9 ) 598.3 Depreciation and amortization — 14.0 286.5 0.7 301.2 Selling, general and administrative 19.5 — 61.7 (4.7 ) 76.5 Loss on disposals of property and equipment — 0.6 4.7 — 5.3 Material charges and other operating items — — 32.9 — 32.9 Total costs and expenses 19.5 19.8 1,012.8 (37.9 ) 1,014.2 INCOME (LOSS) FROM OPERATIONS (19.5 ) 21.5 475.2 — 477.2 OTHER INCOME (EXPENSE): Interest expense, net of interest capitalized — (116.6 ) (3.7 ) 3.7 (116.6 ) Interest income — 4.2 1.6 (3.7 ) 2.1 Gain on extinguishment of debt — 2.4 — — 2.4 Other - net 15.8 (15.8 ) (5.4 ) — (5.4 ) Total other income (expense), net 15.8 (125.8 ) (7.5 ) — (117.5 ) INCOME (LOSS) BEFORE INCOME TAXES (3.7 ) (104.3 ) 467.7 — 359.7 Provision for income taxes — 19.3 17.3 (21.9 ) 14.7 Equity in earnings of subsidiaries, net of tax 348.7 30.8 — (379.5 ) — NET INCOME (LOSS) $ 345.0 $ (92.8 ) $ 450.4 $ (357.6 ) $ 345.0 Rowan Companies plc and Subsidiaries Condensed Consolidating Statements of Operations Nine months ended September 30, 2015 (In millions) (Unaudited) Rowan plc (Parent) RCI (Issuer) Non-guarantor subsidiaries Consolidating adjustments Consolidated REVENUES $ — $ 49.2 $ 1,600.0 $ (48.0 ) $ 1,601.2 COSTS AND EXPENSES: Direct operating costs (excluding items below) — 5.8 796.0 (44.5 ) 757.3 Depreciation and amortization — 14.8 273.6 0.8 289.2 Selling, general and administrative 16.7 0.3 75.7 (4.3 ) 88.4 Loss on disposals of property and equipment — 0.5 1.6 — 2.1 Material charges and other operating items — — 337.3 — 337.3 Total costs and expenses 16.7 21.4 1,484.2 (48.0 ) 1,474.3 INCOME (LOSS) FROM OPERATIONS (16.7 ) 27.8 115.8 — 126.9 OTHER INCOME (EXPENSE): Interest expense, net of interest capitalized — (104.9 ) (20.5 ) 20.5 (104.9 ) Interest income 0.8 19.7 0.8 (20.5 ) 0.8 Other - net 16.8 (16.8 ) (2.9 ) — (2.9 ) Total other income (expense), net 17.6 (102.0 ) (22.6 ) — (107.0 ) INCOME (LOSS) BEFORE INCOME TAXES 0.9 (74.2 ) 93.2 — 19.9 Provision for income taxes — 27.2 30.5 (6.8 ) 50.9 Equity in earnings of subsidiaries, net of tax (31.9 ) (158.6 ) — 190.5 — NET INCOME (LOSS) $ (31.0 ) $ (260.0 ) $ 62.7 $ 197.3 $ (31.0 ) Rowan Companies plc and Subsidiaries Statements of Comprehensive Income (Loss) Three months ended September 30, 2016 (In millions) (Unaudited) Rowan plc (Parent) RCI (Issuer) Non-guarantor subsidiaries Consolidating adjustments Consolidated NET INCOME (LOSS) $ 5.5 $ (197.4 ) $ 41.0 $ 156.4 $ 5.5 OTHER COMPREHENSIVE INCOME: Net changes in pension and other postretirement plan assets and benefit obligations recognized in other comprehensive income, net of income taxes 19.2 19.2 — (19.2 ) 19.2 Net reclassification adjustments for amount recognized in net income (loss) as a component of net periodic benefit cost, net of income taxes 1.0 1.0 — (1.0 ) 1.0 20.2 20.2 — (20.2 ) 20.2 COMPREHENSIVE INCOME (LOSS) $ 25.7 $ (177.2 ) $ 41.0 $ 136.2 $ 25.7 Rowan Companies plc and Subsidiaries Statements of Comprehensive Income (Loss) Three months ended September 30, 2015 (In millions) (Unaudited) Rowan plc (Parent) RCI (Issuer) Non-guarantor subsidiaries Consolidating adjustments Consolidated NET LOSS $ (239.4 ) $ (231.4 ) $ (177.9 ) $ 409.3 $ (239.4 ) OTHER COMPREHENSIVE INCOME: Net reclassification adjustments for amount recognized in net loss as a component of net periodic benefit cost, net of income taxes 3.4 3.4 — (3.4 ) 3.4 COMPREHENSIVE LOSS $ (236.0 ) $ (228.0 ) $ (177.9 ) $ 405.9 $ (236.0 ) Rowan Companies plc and Subsidiaries Statements of Comprehensive Income (Loss) Nine months ended September 30, 2016 (In millions) (Unaudited) Rowan plc (Parent) RCI (Issuer) Non-guarantor subsidiaries Consolidating adjustments Consolidated NET INCOME (LOSS) $ 345.0 $ (92.8 ) $ 450.4 $ (357.6 ) $ 345.0 OTHER COMPREHENSIVE INCOME: Net changes in pension and other postretirement plan assets and benefit obligations recognized in other comprehensive income, net of income taxes 19.2 19.2 — (19.2 ) 19.2 Net reclassification adjustments for amount recognized in net income (loss) as a component of net periodic benefit cost, net of income taxes 6.0 6.0 — (6.0 ) 6.0 25.2 25.2 — (25.2 ) 25.2 COMPREHENSIVE INCOME (LOSS) $ 370.2 $ (67.6 ) $ 450.4 $ (382.8 ) $ 370.2 Rowan Companies plc and Subsidiaries Statements of Comprehensive Income (Loss) Nine months ended September 30, 2015 (In millions) (Unaudited) Rowan plc (Parent) RCI (Issuer) Non-guarantor subsidiaries Consolidating adjustments Consolidated NET INCOME (LOSS) $ (31.0 ) $ (260.0 ) $ 62.7 $ 197.3 $ (31.0 ) OTHER COMPREHENSIVE INCOME: Net reclassification adjustments for amount recognized in net income (loss) as a component of net periodic benefit cost, net of income taxes 10.2 10.2 — (10.2 ) 10.2 COMPREHENSIVE INCOME (LOSS) $ (20.8 ) $ (249.8 ) $ 62.7 $ 187.1 $ (20.8 ) Rowan Companies plc and Subsidiaries Condensed Consolidating Statements of Cash Flows Nine months ended September 30, 2016 (In millions) (Unaudited) Rowan plc (Parent) RCI (Issuer) Non-guarantor subsidiaries Consolidating adjustments Consolidated NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES $ (9.2 ) $ (27.8 ) $ 804.1 $ (78.5 ) $ 688.6 INVESTING ACTIVITIES: Capital expenditures — (31.2 ) (57.3 ) — (88.5 ) Proceeds from disposals of property and equipment — 0.4 0.7 — 1.1 Collections on subsidiary notes receivables — 580.8 — (580.8 ) — Investments in consolidated subsidiaries (0.2 ) (204.6 ) — 204.8 — Net cash provided by (used in) investing activities (0.2 ) 345.4 (56.6 ) (376.0 ) (87.4 ) FINANCING ACTIVITIES: Advances (to) from affiliates (2.8 ) 80.6 (76.6 ) (1.2 ) — Contributions from parent/issuer — — 204.8 (204.8 ) — Reductions of long-term debt — (47.9 ) (580.8 ) 580.8 (47.9 ) Dividends paid — — (79.7 ) 79.7 — Net cash provided by (used in) financing activities (2.8 ) 32.7 (532.3 ) 454.5 (47.9 ) INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (12.2 ) 350.3 215.2 — 553.3 CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 17.3 9.5 457.4 — 484.2 CASH AND CASH EQUIVALENTS, END OF PERIOD $ 5.1 $ 359.8 $ 672.6 $ — $ 1,037.5 Rowan Companies plc and Subsidiaries Condensed Consolidating Statements of Cash Flows Nine months ended September 30, 2015 (In millions) (Unaudited) Rowan plc (Parent) RCI (Issuer) Non-guarantor subsidiaries Consolidating adjustments Consolidated NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES $ (3.7 ) $ 22.6 $ 687.5 $ (47.5 ) $ 658.9 INVESTING ACTIVITIES: Capital expenditures — (14.8 ) (660.0 ) — (674.8 ) Proceeds from disposals of property and equipment — 2.8 2.3 — 5.1 Advances on subsidiary notes receivables — (481.3 ) — 481.3 — Collections on subsidiary notes receivables 7.0 434.2 — (441.2 ) — Investments in consolidated subsidiaries — (36.7 ) — 36.7 — Net cash provided by (used in) investing activities 7.0 (95.8 ) (657.7 ) 76.8 (669.7 ) FINANCING ACTIVITIES: Advances (to) from affiliates (10.5 ) 42.8 (30.8 ) (1.5 ) — Contributions from issuer — — 36.7 (36.7 ) — Proceeds from borrowings — 220.0 481.3 (481.3 ) 220.0 Reductions of long-term debt — (220.0 ) (441.2 ) 441.2 (220.0 ) Dividends paid (37.9 ) — (49.0 ) 49.0 (37.9 ) Net cash provided by (used in) financing activities (48.4 ) 42.8 (3.0 ) (29.3 ) (37.9 ) INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (45.1 ) (30.4 ) 26.8 — (48.7 ) CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 45.9 48.6 244.7 — 339.2 CASH AND CASH EQUIVALENTS, END OF PERIOD $ 0.8 $ 18.2 $ 271.5 $ — $ 290.5

Nature of Operations and Basi21

Nature of Operations and Basis of Presentation (Policies)	9 Months Ended
	Sep. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	The financial statements included in this Form 10-Q have been prepared without audit in accordance with accounting principles generally accepted in the United States of America ( “ US GAAP”) for interim financial information and the applicable rules and regulations of the U.S. Securities and Exchange Commission ( “ SEC”). Certain information and notes have been condensed or omitted as permitted by those rules and regulations. The preparation of our condensed consolidated financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Management believes the accompanying financial statements contain all adjustments, which are of a normal recurring nature unless otherwise noted, necessary for a fair statement of the results for the interim periods presented. The Company’s results of operations and cash flows for the interim periods are not necessarily indicative of results to be expected for the full year. These financial statements should be read in conjunction with the audited consolidated financial statements and notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2015 .
New Accounting Pronouncements	New Accounting Pronouncements Revenue Recognition – In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2014-09, Revenue from Contracts with Customers, which sets forth a global standard for revenue recognition and replaces most existing industry-specific guidance. We will be required to adopt the new standard in annual and interim periods beginning January 1, 2018. The amendments may be applied using a retrospective, modified retrospective or prospective with a cumulative catch-up approach. We are evaluating the standard and have not yet determined our implementation method upon adoption or what impact adoption will have on our financial statements. Presentation of Deferred Taxes – In November 2015, the FASB issued ASU No. 2015-17, Balance Sheet Classification of Deferred Taxes, which requires entities to present deferred tax assets and deferred tax liabilities in balance sheets as noncurrent. We will be required to adopt the new standard in annual and interim periods beginning January 1, 2017. The amendments in this ASU may be applied either prospectively to all deferred tax liabilities and assets or retrospectively to all periods presented. We are evaluating the standard and have not yet determined our implementation method. Lease Accounting – In February 2016, the FASB issued ASU No. 2016-02, Leases, which requires the balance sheet recognition of lease assets and lease liabilities by lessees for leases previously classified as operating leases under prior GAAP. We will be required to adopt the new standard in annual and interim periods beginning January 1, 2019. Lessees and lessors will be required to recognize and measure leases at the beginning of the earliest period presented using a modified retrospective approach, including a number of optional practical expedients that entities may elect to apply. We are evaluating the standard and have not yet determined our implementation method upon adoption or what impact adoption will have on our consolidated financial statements. Stock Compensation – In March 2016, the FASB issued ASU No. 2016-09, Improvements to Employee Share-based Payment Accounting, which simplifies several aspects of accounting for employee share-based payment awards, including the accounting for income taxes, withholding taxes and forfeitures, as well as classification on the statement of cash flows. We will be required to adopt the amended guidance in annual and interim reports beginning January 1, 2017, with early adoption permitted. We are in the process of determining the method of adoption and the impact this amendment will have on our consolidated financial statements . Financial Instruments – In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, which amends the FASB's guidance on the impairment of financial instruments. The ASU adds to US GAAP an impairment model that is based on expected losses rather than incurred losses. Under the new guidance, an entity recognizes as an allowance its estimate of expected credit losses. We will be required to adopt the amended guidance in annual and interim reports beginning January 1, 2020, with early adoption permitted for fiscal years beginning after December 15, 2018. We are in the process of evaluating the impact this amendment will have on our consolidated financial statements . Statement of Cash Flows - In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments, which provides guidance on eight cash flow classification issues with the objective of reducing differences in practice. We will be required to adopt the amendments in this ASU in annual and interim periods beginning January 1, 2018, with early adoption permitted. Adoption is required to be on a retrospective basis, unless impracticable for any of the amendments, in which case a prospective application is permitted. We are in the process of evaluating the impact these amendments will have on our consolidated financial statements. Income Taxes - In October 2016, the FASB issued ASU 2016-16, Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other than Inventory , which eliminates the exception that prohibits the recognition of current and deferred income tax effects for intra-entity transfers of assets other than inventory until the asset has been sold to an outside party. We will be required to adopt the amendments in this ASU in the annual and interim periods beginning January 1, 2018, with early adoption permitted at the beginning of an annual reporting period for which financial statements (interim or annual) have not been issued or made available for issuance. The application of the amendments will require the use of a modified retrospective basis through a cumulative-effect adjustment to retained earnings as of the beginning of the period of adoption. We are evaluating the standard and the impact it will have on our consolidated financial statements .

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2016
Earnings Per Share [Abstract]
Reconciliation of Basic and Diluted Earnings per Share	The following table sets forth a reconciliation of basic and diluted shares (in millions): Three months ended September 30, Nine months ended September 30, 2016 2015 2016 2015 Average common shares outstanding 125.4 124.8 125.3 124.5 Effect of dilutive securities - share-based compensation 1.3 — 1.1 — Average shares for diluted computations 126.7 124.8 126.4 124.5
Antidilutive Securities Excluded From Earnings per Share	Anti-dilutive shares, which could potentially dilute earnings per share in the future, are set forth below (in millions): Three months ended September 30, Nine months ended September 30, 2016 2015 2016 2015 Share options and appreciation rights 1.6 1.3 1.7 1.4 Restricted share units 0.7 1.2 1.3 1.7 Total potentially dilutive shares 2.3 2.5 3.0 3.1

Pension and Other Postretirem23

Pension and Other Postretirement Benefits (Tables)	9 Months Ended
	Sep. 30, 2016
Compensation and Retirement Disclosure [Abstract]
Summary of Net Periodic Pension and Other Postemployment Benefit Costs	Net periodic pension cost recognized during the periods included the following components (in millions): Three months ended September 30, Nine months ended September 30, 2016 2015 2016 2015 Service cost $ 4.6 $ 4.3 $ 12.2 $ 12.7 Interest cost 6.7 8.0 19.7 23.8 Expected return on plan assets (9.9 ) (10.6 ) (29.7 ) (31.5 ) Amortization of net loss 5.6 6.4 15.8 19.1 Amortization of prior service credit (1.2 ) (1.1 ) (3.7 ) (3.4 ) Total net pension cost $ 5.8 $ 7.0 $ 14.3 $ 20.7 Other postretirement benefit cost recognized during the periods included the following components (in millions): Three months ended September 30, Nine months ended September 30, 2016 2015 2016 2015 Service cost $ — $ 0.3 $ 0.2 $ 1.0 Interest cost 0.4 0.7 1.4 2.1 Amortization of net loss 0.2 — 0.2 — Amortization of prior service credit (2.9 ) — (3.1 ) — Total other postretirement benefit cost $ (2.3 ) $ 1.0 $ (1.3 ) $ 3.1 On August 10, 2016, the Company communicated changes to the participants of its postretirement benefits plan that was previously frozen to new entrants in 2008. Based on these changes, effective as of January 1, 2017, eligible participants will now receive a health reimbursement account that provides a fixed dollar benefit per year. The impact of these changes to the plan and related, as of August 10, 2016, are presented in the table below (in millions): Liability increase (decrease) Accumulated other comprehensive income (loss) Deferred tax liability increase (decrease) Plan change benefit $ (39.9 ) $ 25.9 $ 14.0 Remeasurement loss 5.2 (3.4 ) (1.8 ) Actuarial loss 5.2 (3.3 ) (1.9 ) Total $ (29.5 ) $ 19.2 $ 10.3

Derivatives (Tables)

Derivatives (Tables)	9 Months Ended
	Sep. 30, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments, Statements of Financial Performance and Financial Position	The following table provides the fair value of the Company’s derivative as reflected in the Condensed Consolidated Balance Sheet (in millions): Fair value Balance sheet classification September 30, 2016 Derivative: Contingent Payment Derivative Prepaid expenses and other current assets $ 4.2 The following table provides the revaluation effect of the Company’s derivative on the Condensed Consolidated Statements of Operations (in millions): Amount of gain (loss) recognized in income (loss) Derivative Classification of gain (loss) recognized in income (loss) Three months ended September 30, 2016 Nine months ended September 30, 2016 Contingent Payment Derivative Other - net $ (2.2 ) $ (2.0 )

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2016
Fair Value Disclosures [Abstract]
Assets and Liabilities Measured at Fair Value on a Recurring Basis	Assets and liabilities measured at fair value on a recurring basis are summarized below (in millions): Estimated fair value measurements Fair value Quoted prices in active markets (Level 1) Significant other observable inputs (Level 2) Significant other unobservable inputs (Level 3) September 30, 2016: Assets - cash equivalents $ 1,022.8 $ 1,022.8 $ — $ — Derivative 4.2 — — 4.2 Other assets 9.1 9.1 — — December 31, 2015: Assets - cash equivalents $ 465.4 $ 465.4 $ — $ — Other assets 13.5 13.5 — —
Assets Measured at Fair Value on a Nonrecurring Basis	Assets measured at fair value on a nonrecurring basis and whose carrying values were remeasured during the nine months ended September 30 are set forth below (in millions): Estimated fair value measurements Fair value Quoted prices in active markets (Level 1) Significant other observable inputs (Level 2) Significant other unobservable inputs (Level 3) Total gains (losses) 2016: Property and equipment, net (1) $ 9.3 $ — $ — $ 9.3 $ (34.3 ) 2015: Property and equipment, net (2) $ 128.0 $ — $ — $ 128.0 $ (329.8 ) (1) This represents a non-recurring fair value measurement made at September 30, 2016 for five of our jack-up drilling units. (2) This represents a non-recurring fair value measurement made at September 30, 2015 for ten of our jack-up drilling units.

Shareholders' Equity (Tables)

Shareholders' Equity (Tables)	9 Months Ended
	Sep. 30, 2016
Equity [Abstract]
Schedule of Amounts Reclassified out of Each Component of Accumulated Other Comprehensive Loss	The following table sets forth the significant amounts reclassified out of each component of accumulated other comprehensive loss and the effect on net income (loss) for the period (in millions): Three months ended September 30, Nine months ended September 30, 2016 2015 2016 2015 Amounts recognized as a component of net periodic pension and other postretirement benefit cost: Amortization of net loss $ (5.8 ) $ (6.5 ) $ (16.0 ) $ (19.1 ) Amortization of prior service credit 4.3 1.2 6.8 3.4 Total before income taxes (1.5 ) (5.3 ) (9.2 ) (15.7 ) Income tax benefit 0.5 1.9 3.2 5.5 Total reclassifications for the period, net of income taxes $ (1.0 ) $ (3.4 ) $ (6.0 ) $ (10.2 )

Other Financial Statement Dis27

Other Financial Statement Disclosures (Tables)	9 Months Ended
	Sep. 30, 2016
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, 2016 December 31, 2015 Trade $ 426.9 $ 395.7 Income tax 6.6 4.5 Other 7.0 10.3 Total receivables - trade and other $ 440.5 $ 410.5
Schedule of Accrued Liabilities	The following table sets forth the components of accrued liabilities (in millions): September 30, 2016 December 31, 2015 Pension and other postretirement benefits $ 14.0 $ 31.4 Compensation and related employee costs 61.1 73.6 Interest 34.2 44.3 Income taxes 37.6 23.9 Other 13.2 12.8 Total accrued liabilities $ 160.1 $ 186.0
Schedule of Long-term Debt	Long-term debt consisted of the following (in millions): September 30, 2016 December 31, 2015 5% Senior Notes, due September 2017 ($357.7 million and $366.6 million principal amount, respectively; 5.2% effective rate) $ 357.1 $ 365.5 7.875% Senior Notes, due August 2019 ($396.5 million and $435.5 million principal amount, respectively; 8.0% effective rate) 394.7 432.9 4.875% Senior Notes, due June 2022 ($700 million principal amount; 4.7% effective rate) 705.5 706.2 4.75% Senior Notes, due January 2024 ($400 million principal amount; 4.8% effective rate) 397.3 397.1 5.4% Senior Notes, due December 2042 ($400 million principal amount; 5.4% effective rate) 394.9 394.7 5.85% Senior Notes, due January 2044 ($400 million principal amount; 5.9% effective rate) 396.1 396.0 Total carrying value 2,645.6 2,692.4 Current portion 357.1 — Carrying value, less current portion $ 2,288.5 $ 2,692.4

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2016
Segment Reporting [Abstract]
Schedule of Segment Information	Segment information for the three and nine months ended September 30, 2016 and 2015 is set forth below (in millions): Three months ended September 30, Nine months ended September 30, 2016 2015 2016 2015 Deepwater: Revenues $ 135.1 $ 220.9 $ 699.0 $ 529.7 Operating expenses: Direct operating costs (excluding items below) 52.4 77.8 175.4 207.3 Depreciation and amortization 28.8 27.6 86.0 66.4 Selling, general and administrative — — — — Other operating items 0.1 — 0.4 — Income from operations $ 53.8 $ 115.5 $ 437.2 $ 256.0 Jack-ups: Revenues $ 244.3 $ 324.5 $ 792.4 $ 1,071.5 Operating expenses: Direct operating costs (excluding items below) 133.6 169.8 422.9 550.0 Depreciation and amortization 71.5 73.2 211.0 213.2 Selling, general and administrative — — — — Other operating items 33.6 333.5 37.3 338.5 Income (loss) from operations $ 5.6 $ (252.0 ) $ 121.2 (30.2 ) Unallocated costs and other: Revenues $ — $ — $ — $ — Operating expenses: Direct operating costs (excluding items below) — — — — Depreciation and amortization 1.9 3.3 4.2 9.6 Selling, general and administrative 23.5 29.7 76.5 88.4 Other operating items 0.4 1.1 0.5 0.9 Loss from operations $ (25.8 ) $ (34.1 ) $ (81.2 ) $ (98.9 ) Consolidated: Revenues $ 379.4 $ 545.4 $ 1,491.4 $ 1,601.2 Operating expenses: Direct operating costs (excluding items below) 186.0 247.6 598.3 757.3 Depreciation and amortization 102.2 104.1 301.2 289.2 Selling, general and administrative 23.5 29.7 76.5 88.4 Other operating items 34.1 334.6 38.2 339.4 Income (loss) from operations $ 33.6 $ (170.6 ) $ 477.2 $ 126.9

Guarantees of Registered Secu29

Guarantees of Registered Securities (Tables)	9 Months Ended
	Sep. 30, 2016
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Condensed Consolidating Balance Sheets	Rowan Companies plc and Subsidiaries Condensed Consolidating Balance Sheets September 30, 2016 (In millions) (Unaudited) Rowan plc (Parent) RCI (Issuer) Non-guarantor subsidiaries Consolidating adjustments Consolidated CURRENT ASSETS: Cash and cash equivalents $ 5.1 $ 359.8 $ 672.6 $ — $ 1,037.5 Receivables - trade and other — 1.3 439.2 — 440.5 Prepaid expenses and other current assets 0.5 18.4 9.7 — 28.6 Total current assets 5.6 379.5 1,121.5 — 1,506.6 Property and equipment - gross — 616.5 8,473.9 — 9,090.4 Less accumulated depreciation and amortization — 264.6 1,682.5 — 1,947.1 Property and equipment - net — 351.9 6,791.4 — 7,143.3 Investments in subsidiaries 5,155.9 6,186.8 — (11,342.7 ) — Due from affiliates 0.7 578.9 58.2 (637.8 ) — Other assets — 4.8 10.3 — 15.1 $ 5,162.2 $ 7,501.9 $ 7,981.4 $ (11,980.5 ) $ 8,665.0 CURRENT LIABILITIES: Current portion of long-term debt $ — $ 357.1 $ — $ — $ 357.1 Accounts payable - trade 0.6 18.9 62.7 — 82.2 Deferred revenues — — 78.4 — 78.4 Accrued liabilities 0.3 90.1 69.7 — 160.1 Total current liabilities 0.9 466.1 210.8 — 677.8 Long-term debt, less current portion — 2,288.5 — — 2,288.5 Due to affiliates 0.1 59.1 578.6 (637.8 ) — Other liabilities 4.0 277.2 75.5 — 356.7 Deferred income taxes - net — 540.3 144.0 (499.5 ) 184.8 Shareholders' equity 5,157.2 3,870.7 6,972.5 (10,843.2 ) 5,157.2 $ 5,162.2 $ 7,501.9 $ 7,981.4 $ (11,980.5 ) $ 8,665.0 Rowan Companies plc and Subsidiaries Condensed Consolidating Balance Sheets December 31, 2015 (In millions) Rowan plc (Parent) RCI (Issuer) Non-guarantor subsidiaries Consolidating adjustments Consolidated CURRENT ASSETS: Cash and cash equivalents $ 17.3 $ 9.5 $ 457.4 $ — $ 484.2 Receivables - trade and other 0.1 1.4 409.0 — 410.5 Prepaid expenses and other current assets 0.4 19.3 6.9 — 26.6 Total current assets 17.8 30.2 873.3 — 921.3 Property and equipment - gross — 592.8 8,475.3 — 9,068.1 Less accumulated depreciation and amortization — 242.7 1,419.6 — 1,662.3 Property and equipment - net — 350.1 7,055.7 — 7,405.8 Investments in subsidiaries 4,763.3 6,028.2 — (10,791.5 ) — Due from affiliates 0.6 1,218.2 55.8 (1,274.6 ) — Other assets — 5.0 15.2 — 20.2 $ 4,781.7 $ 7,631.7 $ 8,000.0 $ (12,066.1 ) $ 8,347.3 CURRENT LIABILITIES: Accounts payable - trade $ 1.0 $ 19.1 $ 89.5 $ — $ 109.6 Deferred revenues — — 33.1 — 33.1 Accrued liabilities 0.7 119.4 65.9 — 186.0 Total current liabilities 1.7 138.5 188.5 — 328.7 Long-term debt, less current portion — 2,692.4 — — 2,692.4 Due to affiliates 2.9 55.8 1,215.9 (1,274.6 ) — Other liabilities 4.6 304.7 48.6 — 357.9 Deferred income taxes - net — 522.9 150.8 (477.9 ) 195.8 Shareholders' equity 4,772.5 3,917.4 6,396.2 (10,313.6 ) 4,772.5 $ 4,781.7 $ 7,631.7 $ 8,000.0 $ (12,066.1 ) $ 8,347.3
Condensed Consolidating Income Statements	Rowan Companies plc and Subsidiaries Condensed Consolidating Statements of Operations Three months ended September 30, 2016 (In millions) (Unaudited) Rowan plc (Parent) RCI (Issuer) Non-guarantor subsidiaries Consolidating adjustments Consolidated REVENUES $ — $ 5.4 $ 378.5 $ (4.5 ) $ 379.4 COSTS AND EXPENSES: Direct operating costs (excluding items below) — (2.0 ) 191.3 (3.3 ) 186.0 Depreciation and amortization — 5.3 96.7 0.2 102.2 Selling, general and administrative 5.7 — 19.2 (1.4 ) 23.5 Loss on disposals of property and equipment — 0.5 0.7 — 1.2 Material charges and other operating items — — 32.9 — 32.9 Total costs and expenses 5.7 3.8 340.8 (4.5 ) 345.8 INCOME (LOSS) FROM OPERATIONS (5.7 ) 1.6 37.7 — 33.6 OTHER INCOME (EXPENSE): Interest expense, net of interest capitalized — (39.4 ) (0.6 ) 0.6 (39.4 ) Interest income — 1.0 0.8 (0.6 ) 1.2 Other - net 5.4 (5.4 ) (2.1 ) — (2.1 ) Total other income (expense), net 5.4 (43.8 ) (1.9 ) — (40.3 ) INCOME (LOSS) BEFORE INCOME TAXES (0.3 ) (42.2 ) 35.8 — (6.7 ) Benefit for income taxes — (2.9 ) (5.2 ) (4.1 ) (12.2 ) Equity in earnings of subsidiaries, net of tax 5.8 (158.1 ) — 152.3 — NET INCOME (LOSS) $ 5.5 $ (197.4 ) $ 41.0 $ 156.4 $ 5.5 Rowan Companies plc and Subsidiaries Condensed Consolidating Statements of Operations Three months ended September 30, 2015 (In millions) (Unaudited) Rowan plc (Parent) RCI (Issuer) Non-guarantor subsidiaries Consolidating adjustments Consolidated REVENUES $ — $ 15.9 $ 543.5 $ (14.0 ) $ 545.4 COSTS AND EXPENSES: Direct operating costs (excluding items below) — 1.0 259.4 (12.8 ) 247.6 Depreciation and amortization — 6.8 97.2 0.1 104.1 Selling, general and administrative 5.5 (1.8 ) 27.3 (1.3 ) 29.7 Loss on disposals of property and equipment — 0.5 1.8 — 2.3 Material charges and other operating items — — 332.3 — 332.3 Total costs and expenses 5.5 6.5 718.0 (14.0 ) 716.0 INCOME (LOSS) FROM OPERATIONS (5.5 ) 9.4 (174.5 ) — (170.6 ) OTHER INCOME (EXPENSE): Interest expense, net of interest capitalized — (41.3 ) (14.0 ) 14.0 (41.3 ) Interest income 0.6 13.1 0.5 (14.0 ) 0.2 Other - net 5.6 (5.7 ) (1.7 ) — (1.8 ) Total other income (expense), net 6.2 (33.9 ) (15.2 ) — (42.9 ) INCOME (LOSS) BEFORE INCOME TAXES 0.7 (24.5 ) (189.7 ) — (213.5 ) Provision (benefit) for income taxes — 24.8 (11.8 ) 12.9 25.9 Equity in earnings of subsidiaries, net of tax (240.1 ) (182.1 ) — 422.2 — NET LOSS $ (239.4 ) $ (231.4 ) $ (177.9 ) $ 409.3 $ (239.4 ) Rowan Companies plc and Subsidiaries Condensed Consolidating Statements of Operations Nine months ended September 30, 2016 (In millions) (Unaudited) Rowan plc (Parent) RCI (Issuer) Non-guarantor subsidiaries Consolidating adjustments Consolidated REVENUES $ — $ 41.3 $ 1,488.0 $ (37.9 ) $ 1,491.4 COSTS AND EXPENSES: Direct operating costs (excluding items below) — 5.2 627.0 (33.9 ) 598.3 Depreciation and amortization — 14.0 286.5 0.7 301.2 Selling, general and administrative 19.5 — 61.7 (4.7 ) 76.5 Loss on disposals of property and equipment — 0.6 4.7 — 5.3 Material charges and other operating items — — 32.9 — 32.9 Total costs and expenses 19.5 19.8 1,012.8 (37.9 ) 1,014.2 INCOME (LOSS) FROM OPERATIONS (19.5 ) 21.5 475.2 — 477.2 OTHER INCOME (EXPENSE): Interest expense, net of interest capitalized — (116.6 ) (3.7 ) 3.7 (116.6 ) Interest income — 4.2 1.6 (3.7 ) 2.1 Gain on extinguishment of debt — 2.4 — — 2.4 Other - net 15.8 (15.8 ) (5.4 ) — (5.4 ) Total other income (expense), net 15.8 (125.8 ) (7.5 ) — (117.5 ) INCOME (LOSS) BEFORE INCOME TAXES (3.7 ) (104.3 ) 467.7 — 359.7 Provision for income taxes — 19.3 17.3 (21.9 ) 14.7 Equity in earnings of subsidiaries, net of tax 348.7 30.8 — (379.5 ) — NET INCOME (LOSS) $ 345.0 $ (92.8 ) $ 450.4 $ (357.6 ) $ 345.0 Rowan Companies plc and Subsidiaries Condensed Consolidating Statements of Operations Nine months ended September 30, 2015 (In millions) (Unaudited) Rowan plc (Parent) RCI (Issuer) Non-guarantor subsidiaries Consolidating adjustments Consolidated REVENUES $ — $ 49.2 $ 1,600.0 $ (48.0 ) $ 1,601.2 COSTS AND EXPENSES: Direct operating costs (excluding items below) — 5.8 796.0 (44.5 ) 757.3 Depreciation and amortization — 14.8 273.6 0.8 289.2 Selling, general and administrative 16.7 0.3 75.7 (4.3 ) 88.4 Loss on disposals of property and equipment — 0.5 1.6 — 2.1 Material charges and other operating items — — 337.3 — 337.3 Total costs and expenses 16.7 21.4 1,484.2 (48.0 ) 1,474.3 INCOME (LOSS) FROM OPERATIONS (16.7 ) 27.8 115.8 — 126.9 OTHER INCOME (EXPENSE): Interest expense, net of interest capitalized — (104.9 ) (20.5 ) 20.5 (104.9 ) Interest income 0.8 19.7 0.8 (20.5 ) 0.8 Other - net 16.8 (16.8 ) (2.9 ) — (2.9 ) Total other income (expense), net 17.6 (102.0 ) (22.6 ) — (107.0 ) INCOME (LOSS) BEFORE INCOME TAXES 0.9 (74.2 ) 93.2 — 19.9 Provision for income taxes — 27.2 30.5 (6.8 ) 50.9 Equity in earnings of subsidiaries, net of tax (31.9 ) (158.6 ) — 190.5 — NET INCOME (LOSS) $ (31.0 ) $ (260.0 ) $ 62.7 $ 197.3 $ (31.0 )
Statements of Comprehensive Income (Loss)	Rowan Companies plc and Subsidiaries Statements of Comprehensive Income (Loss) Three months ended September 30, 2016 (In millions) (Unaudited) Rowan plc (Parent) RCI (Issuer) Non-guarantor subsidiaries Consolidating adjustments Consolidated NET INCOME (LOSS) $ 5.5 $ (197.4 ) $ 41.0 $ 156.4 $ 5.5 OTHER COMPREHENSIVE INCOME: Net changes in pension and other postretirement plan assets and benefit obligations recognized in other comprehensive income, net of income taxes 19.2 19.2 — (19.2 ) 19.2 Net reclassification adjustments for amount recognized in net income (loss) as a component of net periodic benefit cost, net of income taxes 1.0 1.0 — (1.0 ) 1.0 20.2 20.2 — (20.2 ) 20.2 COMPREHENSIVE INCOME (LOSS) $ 25.7 $ (177.2 ) $ 41.0 $ 136.2 $ 25.7 Rowan Companies plc and Subsidiaries Statements of Comprehensive Income (Loss) Three months ended September 30, 2015 (In millions) (Unaudited) Rowan plc (Parent) RCI (Issuer) Non-guarantor subsidiaries Consolidating adjustments Consolidated NET LOSS $ (239.4 ) $ (231.4 ) $ (177.9 ) $ 409.3 $ (239.4 ) OTHER COMPREHENSIVE INCOME: Net reclassification adjustments for amount recognized in net loss as a component of net periodic benefit cost, net of income taxes 3.4 3.4 — (3.4 ) 3.4 COMPREHENSIVE LOSS $ (236.0 ) $ (228.0 ) $ (177.9 ) $ 405.9 $ (236.0 ) Rowan Companies plc and Subsidiaries Statements of Comprehensive Income (Loss) Nine months ended September 30, 2016 (In millions) (Unaudited) Rowan plc (Parent) RCI (Issuer) Non-guarantor subsidiaries Consolidating adjustments Consolidated NET INCOME (LOSS) $ 345.0 $ (92.8 ) $ 450.4 $ (357.6 ) $ 345.0 OTHER COMPREHENSIVE INCOME: Net changes in pension and other postretirement plan assets and benefit obligations recognized in other comprehensive income, net of income taxes 19.2 19.2 — (19.2 ) 19.2 Net reclassification adjustments for amount recognized in net income (loss) as a component of net periodic benefit cost, net of income taxes 6.0 6.0 — (6.0 ) 6.0 25.2 25.2 — (25.2 ) 25.2 COMPREHENSIVE INCOME (LOSS) $ 370.2 $ (67.6 ) $ 450.4 $ (382.8 ) $ 370.2 Rowan Companies plc and Subsidiaries Statements of Comprehensive Income (Loss) Nine months ended September 30, 2015 (In millions) (Unaudited) Rowan plc (Parent) RCI (Issuer) Non-guarantor subsidiaries Consolidating adjustments Consolidated NET INCOME (LOSS) $ (31.0 ) $ (260.0 ) $ 62.7 $ 197.3 $ (31.0 ) OTHER COMPREHENSIVE INCOME: Net reclassification adjustments for amount recognized in net income (loss) as a component of net periodic benefit cost, net of income taxes 10.2 10.2 — (10.2 ) 10.2 COMPREHENSIVE INCOME (LOSS) $ (20.8 ) $ (249.8 ) $ 62.7 $ 187.1 $ (20.8 )
Consolidating Statements of Cash Flows	Rowan Companies plc and Subsidiaries Condensed Consolidating Statements of Cash Flows Nine months ended September 30, 2016 (In millions) (Unaudited) Rowan plc (Parent) RCI (Issuer) Non-guarantor subsidiaries Consolidating adjustments Consolidated NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES $ (9.2 ) $ (27.8 ) $ 804.1 $ (78.5 ) $ 688.6 INVESTING ACTIVITIES: Capital expenditures — (31.2 ) (57.3 ) — (88.5 ) Proceeds from disposals of property and equipment — 0.4 0.7 — 1.1 Collections on subsidiary notes receivables — 580.8 — (580.8 ) — Investments in consolidated subsidiaries (0.2 ) (204.6 ) — 204.8 — Net cash provided by (used in) investing activities (0.2 ) 345.4 (56.6 ) (376.0 ) (87.4 ) FINANCING ACTIVITIES: Advances (to) from affiliates (2.8 ) 80.6 (76.6 ) (1.2 ) — Contributions from parent/issuer — — 204.8 (204.8 ) — Reductions of long-term debt — (47.9 ) (580.8 ) 580.8 (47.9 ) Dividends paid — — (79.7 ) 79.7 — Net cash provided by (used in) financing activities (2.8 ) 32.7 (532.3 ) 454.5 (47.9 ) INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (12.2 ) 350.3 215.2 — 553.3 CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 17.3 9.5 457.4 — 484.2 CASH AND CASH EQUIVALENTS, END OF PERIOD $ 5.1 $ 359.8 $ 672.6 $ — $ 1,037.5 Rowan Companies plc and Subsidiaries Condensed Consolidating Statements of Cash Flows Nine months ended September 30, 2015 (In millions) (Unaudited) Rowan plc (Parent) RCI (Issuer) Non-guarantor subsidiaries Consolidating adjustments Consolidated NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES $ (3.7 ) $ 22.6 $ 687.5 $ (47.5 ) $ 658.9 INVESTING ACTIVITIES: Capital expenditures — (14.8 ) (660.0 ) — (674.8 ) Proceeds from disposals of property and equipment — 2.8 2.3 — 5.1 Advances on subsidiary notes receivables — (481.3 ) — 481.3 — Collections on subsidiary notes receivables 7.0 434.2 — (441.2 ) — Investments in consolidated subsidiaries — (36.7 ) — 36.7 — Net cash provided by (used in) investing activities 7.0 (95.8 ) (657.7 ) 76.8 (669.7 ) FINANCING ACTIVITIES: Advances (to) from affiliates (10.5 ) 42.8 (30.8 ) (1.5 ) — Contributions from issuer — — 36.7 (36.7 ) — Proceeds from borrowings — 220.0 481.3 (481.3 ) 220.0 Reductions of long-term debt — (220.0 ) (441.2 ) 441.2 (220.0 ) Dividends paid (37.9 ) — (49.0 ) 49.0 (37.9 ) Net cash provided by (used in) financing activities (48.4 ) 42.8 (3.0 ) (29.3 ) (37.9 ) INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (45.1 ) (30.4 ) 26.8 — (48.7 ) CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 45.9 48.6 244.7 — 339.2 CASH AND CASH EQUIVALENTS, END OF PERIOD $ 0.8 $ 18.2 $ 271.5 $ — $ 290.5

Nature of Operations and Basi30

Nature of Operations and Basis of Presentation (Details)	Oct. 03, 2016USD ($)	Sep. 15, 2016USD ($)	Jun. 01, 2016$ / d	May 23, 2016USD ($)$ / bbl	Jun. 30, 2016USD ($)	May 22, 2016USD ($)	Sep. 30, 2016USD ($)$ / d	Jun. 30, 2016USD ($)	Sep. 30, 2016USD ($)drilling_unit$ / bbl$ / d	May 31, 2016$ / d
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of mobile offshore drilling units | drilling_unit									31
Number of fleet of self-elevating mobile offshore jack-up drilling units | drilling_unit									27
Number of ultra-deepwater drillships | drilling_unit									4
Rowan Relentless [Member]
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Contingent payments, period of evaluation				12 months					12 months
Revenue						$ 30,500,000		$ 173,200,000
Revenue, canceled contract value								130,900,000
Revenue, fair value of derivative associated with early contract termination agreement				$ 6,200,000				6,200,000
Recognition of previously deferred revenue								5,600,000
Rowan Relentless [Member] | Contingent Consideration Threshold 1 [Member]
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Additional contingent payments				$ 10,000,000
Contingent payment, threshold price per barrel (in usd per bbl) | $ / bbl				50					50
Rowan Relentless [Member] | Contingent Consideration Threshold 2 [Member]
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Additional contingent payments				$ 20,000,000
Contingent payment, threshold price per barrel (in usd per bbl) | $ / bbl				65					65
Rowan Relentless [Member] | Outstanding Receivables From Early Contract Termination [Member]
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Outstanding receivables from early termination of contract				$ 215,000,000
Outstanding receivables from early termination contract, cash received in period					$ 85,000,000		$ 130,000,000
Rowan Viking [Member]
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Contract extension, number of days			270 days
Day rate (in usd per day) | $ / d			275,000							345,528
Rowan Viking [Member] | Change In Contract Day Rate [Member] | Restatement Adjustment [Member]
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Revenue								$ (6,300,000)
RowanReliance [Member]
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Outstanding receivables from early termination of contract		$ 95,900,000
Day rate (in usd per day) | $ / d							582,000		582,000
Deferred revenue		95,900,000
RowanReliance [Member] | Scenario, Plan [Member]
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Day rate (in usd per day) | $ / d							262,000		262,000
RowanReliance [Member] | Outstanding Receivables From Early Contract Termination [Member]
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Outstanding receivables from early termination contract, cash received in period		$ 45,000,000
RowanReliance [Member] | Outstanding Receivables From Early Contract Termination [Member] | Scenario, Plan [Member]
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Outstanding receivables from early termination contract, cash received in period									$ 19,600,000
Deferred Revenue [Domain] | RowanReliance [Member]
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Deferred revenue							$ 57,500,000		57,500,000
Other Liabilities [Member] | RowanReliance [Member]
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Deferred revenue							$ 38,400,000		$ 38,400,000
Subsequent Event [Member] | RowanReliance [Member] | Outstanding Receivables From Early Contract Termination [Member]
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Outstanding receivables from early termination contract, cash received in period	$ 31,300,000
Cobalt International Energy [Member]
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Exclusive provider contract term, years		5 years

Earnings Per Share (Details)

Earnings Per Share (Details) - shares shares in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Earnings Per Share [Abstract]
Average common shares outstanding	125.4	124.8	125.3	124.5
Effect of dilutive securities - share-based compensation (in shares)	1.3	0	1.1	0
Average shares for diluted computations	126.7	124.8	126.4	124.5
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive shares	2.3	2.5	3	3.1
Share Options and Appreciation Rights [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive shares	1.6	1.3	1.7	1.4
Restricted Share Units [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive shares	0.7	1.2	1.3	1.7

Pension and Other Postretirem32

Pension and Other Postretirement Benefits (Details) - USD ($) $ in Millions	Aug. 10, 2016	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract]
Total net pension cost and other postretirement benefit cost				$ 13	$ 23.8
Defined Benefit Plan, Plan Amendment [Abstract]
Net changes in pension and other postretirement plan assets and benefit obligations recognized in other comprehensive income, net of income taxes		$ 19.2	$ 0	19.2	0
Contribution to pension and other postemployment benefit plans				22.7
Future contributions to pension and other postemployment benefit plans				8.2
Defined Benefit Pension [Member]
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract]
Service cost		4.6	4.3	12.2	12.7
Interest cost		6.7	8	19.7	23.8
Expected return on plan assets		(9.9)	(10.6)	(29.7)	(31.5)
Amortization of net loss		5.6	6.4	15.8	19.1
Amortization of prior service credit		(1.2)	(1.1)	(3.7)	(3.4)
Total net pension cost and other postretirement benefit cost		5.8	7	14.3	20.7
Other Postretirement Benefit [Member]
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract]
Service cost		0	0.3	0.2	1
Interest cost		0.4	0.7	1.4	2.1
Amortization of net loss		0.2	0	0.2	0
Amortization of prior service credit		(2.9)	0	(3.1)	0
Total net pension cost and other postretirement benefit cost		$ (2.3)	$ 1	$ (1.3)	$ 3.1
Defined Benefit Plan, Plan Amendment [Abstract]
Decrease in postretirement benefits plan liability	$ (29.5)
Net changes in pension and other postretirement plan assets and benefit obligations recognized in other comprehensive income, net of income taxes	19.2
Increase in deferred tax liability	10.3
Other liabilities [Member] | Other Postretirement Benefit [Member]
Defined Benefit Plan, Plan Amendment [Abstract]
Plan change benefit	(39.9)
Remeasurement loss	5.2
Actuarial loss	5.2
Accumulated other comprehensive income (loss) [Member] | Other Postretirement Benefit [Member]
Defined Benefit Plan, Plan Amendment [Abstract]
Plan change benefit	25.9
Remeasurement loss	(3.4)
Actuarial loss	(3.3)
Deferred tax liability [Member] | Other Postretirement Benefit [Member]
Defined Benefit Plan, Plan Amendment [Abstract]
Plan change benefit	14
Remeasurement loss	(1.8)
Actuarial loss	$ (1.9)

Commitments and Contingent Li33

Commitments and Contingent Liabilities (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2016	Dec. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
IRS proposed unfavorable tax adjustments	$ 85
Gross unrecognized tax benefits	119	$ 65
Unrecognized tax benefits, increase resulting from current year-to-date anticipated transfer pricing positions	7
Unrecognized tax benefits, increase resulting from prior year U.S. interest deductions	42
Tax impact of unrecognized tax benefits, if reversed	66
Outstanding letters of credit	$ 9.5

Share-Based Compensation (Detai

Share-Based Compensation (Details) - USD ($) $ / shares in Units, $ in Millions	Feb. 25, 2016	Sep. 30, 2016	Dec. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average period for remaining recognition of compensation expense		1 year 8 months 12 days
Unrecognized compensation cost related to nonvested share-based compensation arrangements		$ 36.9
Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Estimated liabilities for share-based compensation awards classified as short-term		9.8	$ 7.6
Estimated liabilities for share-based compensation awards classified as long-term		$ 10.6	$ 11.4
February 25, 2016 Grant [Member] | Restricted Share Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based awards, grant-date fair value	$ 19.3
Awards vesting period		3 years
Aggregate grant date fair value, net of estimated forfeitures	$ 18.2
Weighted-average period for remaining recognition of compensation expense	2 years 7 months 6 days
February 25, 2016 Grant [Member] | Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based awards, grant-date fair value	$ 8.6
Awards vesting period		3 years
Target value of P-Units (in dollars per unit)		$ 100
February 25, 2016 Grant [Member] | Performance Shares [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected payout on P-Units (in dollars per unit)		$ 0
February 25, 2016 Grant [Member] | Performance Shares [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards vesting period		3 years
Expected payout on P-Units (in dollars per unit)		$ 200
February 25, 2016 Grant [Member] | Performance Shares [Member] | One-Year Period ending December 31, 2016 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance unit value percentage determined on an annual performance		25.00%
Period for value determination		1 year
February 25, 2016 Grant [Member] | Performance Shares [Member] | One-Year Period Ending December 31, 2017 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance unit value percentage determined on an annual performance		25.00%
Period for value determination		1 year
February 25, 2016 Grant [Member] | Performance Shares [Member] | One-Year Period Ending December 31, 2018 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance unit value percentage determined on an annual performance		25.00%
Period for value determination		1 year
February 25, 2016 Grant [Member] | Performance Shares [Member] | Three-Year Period Ending December 31, 2018 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Period for value determination		3 years
Performance unit value percentage determined on total vesting period performance		25.00%

Derivatives - Narrative (Detail

Derivatives - Narrative (Details) - USD ($) $ in Millions	May 23, 2016	Jun. 30, 2016
Rowan Relentless [Member]
Derivative [Line Items]
Revenue, fair value of derivative associated with early contract termination agreement	$ 6.2	$ 6.2

Derivatives - Derivative Reflec

Derivatives - Derivative Reflected in the Balance Sheet (Details) $ in Millions	Sep. 30, 2016USD ($)
Prepaid Expenses and Other Current Assets [Member]
Derivatives, Fair Value [Line Items]
Contingent Payment Derivative	$ 4.2

Derivatives - Effect of Derivat

Derivatives - Effect of Derivative on the Consolidated Statements of Operations (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2016
Other net [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Contingent Payment Derivative	$ (2.2)	$ (2)

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) $ in Millions	Sep. 30, 2016USD ($)$ / bbl	May 23, 2016$ / bbl	Sep. 30, 2016USD ($)$ / bbl	Dec. 31, 2015USD ($)
Prepaid Expenses and Other Current Assets [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Derivative | $	$ 4.2		$ 4.2
Recurring Basis [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Derivative | $	4.2		4.2
Recurring Basis [Member] | Egypt, Pounds [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Other assets | $	$ 9.1		$ 9.1	$ 13.5
Rowan Relentless [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Contingent payments, period of evaluation		12 months	12 months
Rowan Relentless [Member] | Contingent Consideration Threshold 1 [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Contingent payment, threshold price per barrel (in usd per bbl) | $ / bbl		50	50
Rowan Relentless [Member] | Contingent Consideration Threshold 2 [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Contingent payment, threshold price per barrel (in usd per bbl) | $ / bbl		65	65
Derivative [Member] | Rowan Relentless [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
WTI spot price (in usd per bbl) | $ / bbl	48.24	47.48	48.24
Expected volatility rate	34.85%	37.50%
Risk-free interest rate	0.589%	0.765%
Slope of the WTI forward curve	9.25%	5.50%

Fair Value Measurements - Asset

Fair Value Measurements - Assets and Liabilities Measured on a Recurring and Nonrecurring Basis (Details) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016USD ($)drilling_unit	Sep. 30, 2015USD ($)drilling_unit	Sep. 30, 2016USD ($)	Sep. 30, 2015USD ($)	Dec. 31, 2015USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Property and equipment, FVM gain (loss)			$ (34.3)	$ (329.8)
Asset impairment charges	$ 34.3	$ 329.8	34.3	329.8
Nonrecurring Basis [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Property and equipment, net	9.3	128	9.3	128
Nonrecurring Basis [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Property and equipment, net	0	0	0	0
Nonrecurring Basis [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Property and equipment, net	0	0	0	0
Nonrecurring Basis [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Property and equipment, net	9.3	$ 128	9.3	128
Recurring Basis [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets - cash equivalents	1,022.8		1,022.8		$ 465.4
Derivative	4.2		4.2
Other assets	9.1		9.1		13.5
Recurring Basis [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets - cash equivalents	1,022.8		1,022.8		465.4
Derivative	0		0
Other assets	9.1		9.1		13.5
Recurring Basis [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets - cash equivalents	0		0		0
Derivative	0		0
Other assets	0		0		0
Recurring Basis [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets - cash equivalents	0		0		0
Derivative	4.2		4.2
Other assets	$ 0		0		$ 0
Jack-up Rigs [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Number of drilling units impaired | drilling_unit	5	10
Material Charges and Other Operating Items [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Asset impairment charges	$ 34.3	$ 329.8	$ 34.3	$ 329.8

Fair Value Measurements - Other

Fair Value Measurements - Other Fair Value Measurements (Details) - USD ($) $ in Millions	Sep. 30, 2016	Dec. 31, 2015
Fair Value Disclosures [Abstract]
Carrying value of publicly traded debt securities	$ 2,645.6	$ 2,692.4
Fair value of publicly traded debt securities	$ 2,223	$ 2,072

Shareholders' Equity (Details)

Shareholders' Equity (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Amortization of Net Loss [Member]
Amounts recognized as a component of net periodic pension and other postretirement benefit cost:
Total before income taxes	$ (5.8)	$ (6.5)	$ (16)	$ (19.1)
Amortization of Prior Service Credit [Member]
Amounts recognized as a component of net periodic pension and other postretirement benefit cost:
Total before income taxes	4.3	1.2	6.8	3.4
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member]
Amounts recognized as a component of net periodic pension and other postretirement benefit cost:
Total before income taxes	(1.5)	(5.3)	(9.2)	(15.7)
Income tax benefit	0.5	1.9	3.2	5.5
Total reclassifications for the period, net of income taxes	$ (1)	$ (3.4)	$ (6)	$ (10.2)

Other Financial Statement Dis42

Other Financial Statement Disclosures - Components of Receivables (Details) - USD ($) $ in Millions	Sep. 30, 2016	Dec. 31, 2015
Other Financial Statement Disclosures [Abstract]
Trade	$ 426.9	$ 395.7
Income tax	6.6	4.5
Other	7	10.3
Total receivables - trade and other	$ 440.5	$ 410.5

Other Financial Statement Dis43

Other Financial Statement Disclosures - Accrued Liabilities (Details) - USD ($) $ in Millions	Sep. 30, 2016	Dec. 31, 2015
Other Financial Statement Disclosures [Abstract]
Pension and other postretirement benefits	$ 14	$ 31.4
Compensation and related employee costs	61.1	73.6
Interest	34.2	44.3
Income taxes	37.6	23.9
Other	13.2	12.8
Total accrued liabilities	$ 160.1	$ 186

Other Financial Statement Dis44

Other Financial Statement Disclosures - Long Term Debt (Details) - USD ($) $ in Millions	Sep. 30, 2016	Apr. 30, 2016	Mar. 31, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Total carrying value	$ 2,645.6			$ 2,692.4
Current portion of long-term debt	357.1			0
Carrying value, less current portion	2,288.5			2,692.4
Senior Notes [Member] | 5% Senior Notes, due September 2017 [Member]
Debt Instrument [Line Items]
Total carrying value	$ 357.1			$ 365.5
Stated rate	5.00%	5.00%	5.00%	5.00%
Principal amount	$ 357.7			$ 366.6
Effective rate	5.20%			5.20%
Senior Notes [Member] | 7.875% Senior Notes, due August 2019 [Member]
Debt Instrument [Line Items]
Total carrying value	$ 394.7			$ 432.9
Stated rate	7.875%	7.875%	7.875%	7.875%
Principal amount	$ 396.5			$ 435.5
Effective rate	8.00%			8.00%
Senior Notes [Member] | 4.875% Senior Notes, due June 2022 [Member]
Debt Instrument [Line Items]
Total carrying value	$ 705.5			$ 706.2
Stated rate	4.875%			4.875%
Principal amount	$ 700			$ 700
Effective rate	4.70%			4.70%
Senior Notes [Member] | 4.75% Senior Notes, due January 2024 [Member]
Debt Instrument [Line Items]
Total carrying value	$ 397.3			$ 397.1
Stated rate	4.75%			4.75%
Principal amount	$ 400			$ 400
Effective rate	4.80%			4.80%
Senior Notes [Member] | 5.4% Senior Notes due, December 2042 [Member]
Debt Instrument [Line Items]
Total carrying value	$ 394.9			$ 394.7
Stated rate	5.40%			5.40%
Principal amount	$ 400			$ 400
Effective rate	5.40%			5.40%
Senior Notes [Member] | 5.85% Senior Notes, due January 2044 [Member]
Debt Instrument [Line Items]
Total carrying value	$ 396.1			$ 396
Stated rate	5.85%			5.85%
Principal amount	$ 400			$ 400
Effective rate	5.90%			5.90%

Other Financial Statement Dis45

Other Financial Statement Disclosures - Long Term Debt, Narrative (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended				9 Months Ended
	Apr. 30, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Debt Instrument [Line Items]
Gain on extinguishment of debt		$ 0			$ 0	$ 2.4	$ 0
Senior Notes [Member] | 5% Senior Notes due September 2017 and 7.875% Senior Notes due August 2019 [Member]
Debt Instrument [Line Items]
Early repayment of debt				$ 15.9
Aggregate amount of debt paid	$ 21.4			16.5
Gain on extinguishment of debt			$ 1.2	$ 0.6
Senior Notes [Member] | 5% Senior Notes, due September 2017 [Member]
Debt Instrument [Line Items]
Stated rate	5.00%	5.00%		5.00%		5.00%		5.00%
Senior Notes [Member] | 7.875% Senior Notes, due August 2019 [Member]
Debt Instrument [Line Items]
Aggregate amount of debt paid	$ 10
Stated rate	7.875%	7.875%		7.875%		7.875%		7.875%
Gain on extinguishment of debt			$ 0.6

Other Financial Statement Dis46

Other Financial Statement Disclosures - Narrative (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2016USD ($)drilling_unit	Sep. 30, 2015USD ($)drilling_unit	Sep. 30, 2016USD ($)	Sep. 30, 2015USD ($)
Supplemental Cash Flow Information
Accrued capital expenditures			$ 23,200,000	$ 36,500,000
Interest capitalized in connection with rig construction projects	$ 0	$ 0	$ 0	$ 16,200,000
Income Taxes
Effective tax rate	181.20%	(12.20%)	4.10%	256.20%
Provision (benefit) for income taxes	$ (12,200,000)	$ 25,900,000	$ 14,700,000	$ 50,900,000
Decrease in income tax expense as compared to prior year periods	38,100,000		36,200,000
Property, Plant and Equipment [Line Items]
Asset impairment charges	34,300,000	329,800,000	34,300,000	329,800,000
Charges related to contract termination		$ 2,600,000		$ 7,600,000
Reversal of estimated settlement liaibility	$ 1,400,000		$ 1,400,000
Jack-up Rigs [Member]
Property, Plant and Equipment [Line Items]
Number of drilling units impaired | drilling_unit	5	10

Segment Information (Details)

Segment Information (Details) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016USD ($)	Sep. 30, 2015USD ($)	Sep. 30, 2016USD ($)segment	Sep. 30, 2015USD ($)
Segment Reporting [Abstract]
Number of operating segments | segment			2
Segment Reporting Information [Line Items]
Revenues	$ 379.4	$ 545.4	$ 1,491.4	$ 1,601.2
Operating expenses:
Direct operating costs (excluding items below)	186	247.6	598.3	757.3
Depreciation and amortization	102.2	104.1	301.2	289.2
Selling, general and administrative	23.5	29.7	76.5	88.4
Other operating items	34.1	334.6	38.2	339.4
Income (loss) from operations	33.6	(170.6)	477.2	126.9
Deepwater [Member]
Segment Reporting Information [Line Items]
Revenues	135.1	220.9	699	529.7
Operating expenses:
Direct operating costs (excluding items below)	52.4	77.8	175.4	207.3
Depreciation and amortization	28.8	27.6	86	66.4
Selling, general and administrative	0	0	0	0
Other operating items	0.1	0	0.4	0
Income (loss) from operations	53.8	115.5	437.2	256
Jack-ups [Member]
Segment Reporting Information [Line Items]
Revenues	244.3	324.5	792.4	1,071.5
Operating expenses:
Direct operating costs (excluding items below)	133.6	169.8	422.9	550
Depreciation and amortization	71.5	73.2	211	213.2
Selling, general and administrative	0	0	0	0
Other operating items	33.6	333.5	37.3	338.5
Income (loss) from operations	5.6	(252)	121.2	(30.2)
Unallocated Costs and Other [Member]
Segment Reporting Information [Line Items]
Revenues	0	0	0	0
Operating expenses:
Direct operating costs (excluding items below)	0	0	0	0
Depreciation and amortization	1.9	3.3	4.2	9.6
Selling, general and administrative	23.5	29.7	76.5	88.4
Other operating items	0.4	1.1	0.5	0.9
Income (loss) from operations	$ (25.8)	$ (34.1)	$ (81.2)	$ (98.9)

Guarantees of Registered Secu48

Guarantees of Registered Securities - Narrative (Details) - RCI (Issuer) [Member]	3 Months Ended
	Sep. 30, 2016
Condensed Financial Statements, Captions [Line Items]
Subsidiary ownership percentage by parent	100.00%
Unsecured Debt [Member] | 5% Senior Notes, due September 2017 [Member]
Condensed Financial Statements, Captions [Line Items]
Stated interest rate percentage	5.00%
Unsecured Debt [Member] | 7.875% Senior Notes, due August 2019 [Member]
Condensed Financial Statements, Captions [Line Items]
Stated interest rate percentage	7.875%
Unsecured Debt [Member] | 4.875% Senior Notes, due June 2022 [Member]
Condensed Financial Statements, Captions [Line Items]
Stated interest rate percentage	4.875%
Unsecured Debt [Member] | 4.75% Senior Notes, due January 2024 [Member]
Condensed Financial Statements, Captions [Line Items]
Stated interest rate percentage	4.75%
Unsecured Debt [Member] | 5.4% Senior Notes due 2042 [Member]
Condensed Financial Statements, Captions [Line Items]
Stated interest rate percentage	5.40%
Unsecured Debt [Member] | 5.85% Senior Notes, due January 2044 [Member]
Condensed Financial Statements, Captions [Line Items]
Stated interest rate percentage	5.85%

Guarantees of Registered Secu49

Guarantees of Registered Securities - Condensed Consolidating Financial Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Dec. 31, 2015
CURRENT ASSETS:
Cash and cash equivalents	$ 1,037.5	$ 290.5	$ 484.2	$ 339.2	$ 1,037.5	$ 484.2
Receivables - trade and other					440.5	410.5
Prepaid expenses and other current assets					28.6	26.6
Total current assets					1,506.6	921.3
Property and equipment - gross					9,090.4	9,068.1
Less accumulated depreciation and amortization					1,947.1	1,662.3
Property and equipment - net					7,143.3	7,405.8
Investments in subsidiaries					0	0
Due from affiliates					0	0
Other assets					15.1	20.2
TOTAL ASSETS					8,665	8,347.3
CURRENT LIABILITIES:
Current portion of long-term debt					357.1	0
Accounts payable - trade					82.2	109.6
Deferred revenues					78.4	33.1
Accrued liabilities					160.1	186
Total current liabilities					677.8	328.7
Long-term debt, less current portion					2,288.5	2,692.4
Due to affiliates					0	0
Other liabilities					356.7	357.9
Deferred income taxes - net					184.8	195.8
Shareholders' equity					5,157.2	4,772.5
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY					8,665	8,347.3
Condensed Consolidating Income Statements
REVENUES	379.4	545.4	1,491.4	1,601.2
COSTS AND EXPENSES:
Direct operating costs (excluding items below)	186	247.6	598.3	757.3
Depreciation and amortization	102.2	104.1	301.2	289.2
Selling, general and administrative	23.5	29.7	76.5	88.4
Loss on disposals of property and equipment	1.2	2.3	5.3	2.1
Material charges and other operating items	32.9	332.3	32.9	337.3
Total costs and expenses	345.8	716	1,014.2	1,474.3
Income (loss) from operations	33.6	(170.6)	477.2	126.9
OTHER INCOME (EXPENSE):
Interest expense, net of interest capitalized	(39.4)	(41.3)	(116.6)	(104.9)
Interest income	1.2	0.2	2.1	0.8
Gain on extinguishment of debt	0	0	2.4	0
Other - net	(2.1)	(1.8)	(5.4)	(2.9)
Total other income (expense), net	(40.3)	(42.9)	(117.5)	(107)
INCOME (LOSS) BEFORE INCOME TAXES	(6.7)	(213.5)	359.7	19.9
Provision (benefit) for income taxes	(12.2)	25.9	14.7	50.9
Equity in earnings of subsidiaries, net of tax	0	0	0	0
NET INCOME (LOSS)	5.5	(239.4)	345	(31)
Statements of Comprehensive Income (Loss)
NET INCOME (LOSS)	5.5	(239.4)	345	(31)
OTHER COMPREHENSIVE INCOME:
Net changes in pension and other postretirement plan assets and benefit obligations recognized in other comprehensive income, net of income taxes	19.2	0	19.2	0
Net reclassification adjustments for amount recognized in net income (loss) as a component of net periodic benefit cost, net of income taxes	1	3.4	6	10.2
OTHER COMPREHENSIVE INCOME	20.2	3.4	25.2	10.2
COMPREHENSIVE INCOME (LOSS)	25.7	(236)	370.2	(20.8)
Consolidating Statements of Cash Flows
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES			688.6	658.9
INVESTING ACTIVITIES:
Capital expenditures			(88.5)	(674.8)
Proceeds from disposals of property and equipment			1.1	5.1
Advances on subsidiary notes receivables				0
Collections on subsidiary notes receivables			0	0
Investments in consolidated subsidiaries			0	0
Net cash provided by (used in) investing activities			(87.4)	(669.7)
FINANCING ACTIVITIES:
Advances (to) from affiliates			0	0
Contributions from issuer			0	0
Proceeds from borrowings			0	220
Reductions of long-term debt			(47.9)	(220)
Dividends paid			0	(37.9)
Net cash provided by (used in) financing activities			(47.9)	(37.9)
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS			553.3	(48.7)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD			484.2	339.2
CASH AND CASH EQUIVALENTS, END OF PERIOD	1,037.5	290.5	1,037.5	290.5
Consolidating adjustments [Member]
CURRENT ASSETS:
Cash and cash equivalents	0	0	0	0	0	0
Receivables - trade and other					0	0
Prepaid expenses and other current assets					0	0
Total current assets					0	0
Property and equipment - gross					0	0
Less accumulated depreciation and amortization					0	0
Property and equipment - net					0	0
Investments in subsidiaries					(11,342.7)	(10,791.5)
Due from affiliates					(637.8)	(1,274.6)
Other assets					0	0
TOTAL ASSETS					(11,980.5)	(12,066.1)
CURRENT LIABILITIES:
Current portion of long-term debt					0
Accounts payable - trade					0	0
Deferred revenues					0	0
Accrued liabilities					0	0
Total current liabilities					0	0
Long-term debt, less current portion					0	0
Due to affiliates					(637.8)	(1,274.6)
Other liabilities					0	0
Deferred income taxes - net					(499.5)	(477.9)
Shareholders' equity					(10,843.2)	(10,313.6)
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY					(11,980.5)	(12,066.1)
Condensed Consolidating Income Statements
REVENUES	(4.5)	(14)	(37.9)	(48)
COSTS AND EXPENSES:
Direct operating costs (excluding items below)	(3.3)	(12.8)	(33.9)	(44.5)
Depreciation and amortization	0.2	0.1	0.7	0.8
Selling, general and administrative	(1.4)	(1.3)	(4.7)	(4.3)
Loss on disposals of property and equipment	0	0	0	0
Material charges and other operating items	0	0	0	0
Total costs and expenses	(4.5)	(14)	(37.9)	(48)
Income (loss) from operations	0	0	0	0
OTHER INCOME (EXPENSE):
Interest expense, net of interest capitalized	0.6	14	3.7	20.5
Interest income	(0.6)	(14)	(3.7)	(20.5)
Gain on extinguishment of debt			0
Other - net	0	0	0	0
Total other income (expense), net	0	0	0	0
INCOME (LOSS) BEFORE INCOME TAXES	0	0	0	0
Provision (benefit) for income taxes	(4.1)	12.9	(21.9)	(6.8)
Equity in earnings of subsidiaries, net of tax	152.3	422.2	(379.5)	190.5
NET INCOME (LOSS)	156.4	409.3	(357.6)	197.3
Statements of Comprehensive Income (Loss)
NET INCOME (LOSS)	156.4	409.3	(357.6)	197.3
OTHER COMPREHENSIVE INCOME:
Net changes in pension and other postretirement plan assets and benefit obligations recognized in other comprehensive income, net of income taxes	(19.2)		(19.2)
Net reclassification adjustments for amount recognized in net income (loss) as a component of net periodic benefit cost, net of income taxes	(1)	(3.4)	(6)	(10.2)
OTHER COMPREHENSIVE INCOME	(20.2)		(25.2)
COMPREHENSIVE INCOME (LOSS)	136.2	405.9	(382.8)	187.1
Consolidating Statements of Cash Flows
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES			(78.5)	(47.5)
INVESTING ACTIVITIES:
Capital expenditures			0	0
Proceeds from disposals of property and equipment			0	0
Advances on subsidiary notes receivables				481.3
Collections on subsidiary notes receivables			(580.8)	(441.2)
Investments in consolidated subsidiaries			204.8	36.7
Net cash provided by (used in) investing activities			(376)	76.8
FINANCING ACTIVITIES:
Advances (to) from affiliates			(1.2)	(1.5)
Contributions from issuer			(204.8)	(36.7)
Proceeds from borrowings				(481.3)
Reductions of long-term debt			580.8	441.2
Dividends paid			79.7	49
Net cash provided by (used in) financing activities			454.5	(29.3)
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS			0	0
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD			0	0
CASH AND CASH EQUIVALENTS, END OF PERIOD	0	0	0	0
Rowan plc (Parent) [Member]
CURRENT ASSETS:
Cash and cash equivalents	5.1	0.8	17.3	45.9	5.1	17.3
Receivables - trade and other					0	0.1
Prepaid expenses and other current assets					0.5	0.4
Total current assets					5.6	17.8
Property and equipment - gross					0	0
Less accumulated depreciation and amortization					0	0
Property and equipment - net					0	0
Investments in subsidiaries					5,155.9	4,763.3
Due from affiliates					0.7	0.6
Other assets					0	0
TOTAL ASSETS					5,162.2	4,781.7
CURRENT LIABILITIES:
Current portion of long-term debt					0
Accounts payable - trade					0.6	1
Deferred revenues					0	0
Accrued liabilities					0.3	0.7
Total current liabilities					0.9	1.7
Long-term debt, less current portion					0	0
Due to affiliates					0.1	2.9
Other liabilities					4	4.6
Deferred income taxes - net					0	0
Shareholders' equity					5,157.2	4,772.5
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY					5,162.2	4,781.7
Condensed Consolidating Income Statements
REVENUES	0	0	0	0
COSTS AND EXPENSES:
Direct operating costs (excluding items below)	0	0	0	0
Depreciation and amortization	0	0	0	0
Selling, general and administrative	5.7	5.5	19.5	16.7
Loss on disposals of property and equipment	0	0	0	0
Material charges and other operating items	0	0	0	0
Total costs and expenses	5.7	5.5	19.5	16.7
Income (loss) from operations	(5.7)	(5.5)	(19.5)	(16.7)
OTHER INCOME (EXPENSE):
Interest expense, net of interest capitalized	0	0	0	0
Interest income	0	0.6	0	0.8
Gain on extinguishment of debt			0
Other - net	5.4	5.6	15.8	16.8
Total other income (expense), net	5.4	6.2	15.8	17.6
INCOME (LOSS) BEFORE INCOME TAXES	(0.3)	0.7	(3.7)	0.9
Provision (benefit) for income taxes	0	0	0	0
Equity in earnings of subsidiaries, net of tax	5.8	(240.1)	348.7	(31.9)
NET INCOME (LOSS)	5.5	(239.4)	345	(31)
Statements of Comprehensive Income (Loss)
NET INCOME (LOSS)	5.5	(239.4)	345	(31)
OTHER COMPREHENSIVE INCOME:
Net changes in pension and other postretirement plan assets and benefit obligations recognized in other comprehensive income, net of income taxes	19.2		19.2
Net reclassification adjustments for amount recognized in net income (loss) as a component of net periodic benefit cost, net of income taxes	1	3.4	6	10.2
OTHER COMPREHENSIVE INCOME	20.2		25.2
COMPREHENSIVE INCOME (LOSS)	25.7	(236)	370.2	(20.8)
Consolidating Statements of Cash Flows
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES			(9.2)	(3.7)
INVESTING ACTIVITIES:
Capital expenditures			0	0
Proceeds from disposals of property and equipment			0	0
Advances on subsidiary notes receivables				0
Collections on subsidiary notes receivables			0	7
Investments in consolidated subsidiaries			(0.2)	0
Net cash provided by (used in) investing activities			(0.2)	7
FINANCING ACTIVITIES:
Advances (to) from affiliates			(2.8)	(10.5)
Contributions from issuer			0	0
Proceeds from borrowings				0
Reductions of long-term debt			0	0
Dividends paid			0	(37.9)
Net cash provided by (used in) financing activities			(2.8)	(48.4)
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS			(12.2)	(45.1)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD			17.3	45.9
CASH AND CASH EQUIVALENTS, END OF PERIOD	5.1	0.8	5.1	0.8
RCI (Issuer) [Member]
CURRENT ASSETS:
Cash and cash equivalents	359.8	18.2	9.5	48.6	359.8	9.5
Receivables - trade and other					1.3	1.4
Prepaid expenses and other current assets					18.4	19.3
Total current assets					379.5	30.2
Property and equipment - gross					616.5	592.8
Less accumulated depreciation and amortization					264.6	242.7
Property and equipment - net					351.9	350.1
Investments in subsidiaries					6,186.8	6,028.2
Due from affiliates					578.9	1,218.2
Other assets					4.8	5
TOTAL ASSETS					7,501.9	7,631.7
CURRENT LIABILITIES:
Current portion of long-term debt					357.1
Accounts payable - trade					18.9	19.1
Deferred revenues					0	0
Accrued liabilities					90.1	119.4
Total current liabilities					466.1	138.5
Long-term debt, less current portion					2,288.5	2,692.4
Due to affiliates					59.1	55.8
Other liabilities					277.2	304.7
Deferred income taxes - net					540.3	522.9
Shareholders' equity					3,870.7	3,917.4
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY					7,501.9	7,631.7
Condensed Consolidating Income Statements
REVENUES	5.4	15.9	41.3	49.2
COSTS AND EXPENSES:
Direct operating costs (excluding items below)	(2)	1	5.2	5.8
Depreciation and amortization	5.3	6.8	14	14.8
Selling, general and administrative	0	(1.8)	0	0.3
Loss on disposals of property and equipment	0.5	0.5	0.6	0.5
Material charges and other operating items	0	0	0	0
Total costs and expenses	3.8	6.5	19.8	21.4
Income (loss) from operations	1.6	9.4	21.5	27.8
OTHER INCOME (EXPENSE):
Interest expense, net of interest capitalized	(39.4)	(41.3)	(116.6)	(104.9)
Interest income	1	13.1	4.2	19.7
Gain on extinguishment of debt			2.4
Other - net	(5.4)	(5.7)	(15.8)	(16.8)
Total other income (expense), net	(43.8)	(33.9)	(125.8)	(102)
INCOME (LOSS) BEFORE INCOME TAXES	(42.2)	(24.5)	(104.3)	(74.2)
Provision (benefit) for income taxes	(2.9)	24.8	19.3	27.2
Equity in earnings of subsidiaries, net of tax	(158.1)	(182.1)	30.8	(158.6)
NET INCOME (LOSS)	(197.4)	(231.4)	(92.8)	(260)
Statements of Comprehensive Income (Loss)
NET INCOME (LOSS)	(197.4)	(231.4)	(92.8)	(260)
OTHER COMPREHENSIVE INCOME:
Net changes in pension and other postretirement plan assets and benefit obligations recognized in other comprehensive income, net of income taxes	19.2		19.2
Net reclassification adjustments for amount recognized in net income (loss) as a component of net periodic benefit cost, net of income taxes	1	3.4	6	10.2
OTHER COMPREHENSIVE INCOME	20.2		25.2
COMPREHENSIVE INCOME (LOSS)	(177.2)	(228)	(67.6)	(249.8)
Consolidating Statements of Cash Flows
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES			(27.8)	22.6
INVESTING ACTIVITIES:
Capital expenditures			(31.2)	(14.8)
Proceeds from disposals of property and equipment			0.4	2.8
Advances on subsidiary notes receivables				(481.3)
Collections on subsidiary notes receivables			580.8	434.2
Investments in consolidated subsidiaries			(204.6)	(36.7)
Net cash provided by (used in) investing activities			345.4	(95.8)
FINANCING ACTIVITIES:
Advances (to) from affiliates			80.6	42.8
Contributions from issuer			0	0
Proceeds from borrowings				220
Reductions of long-term debt			(47.9)	(220)
Dividends paid			0	0
Net cash provided by (used in) financing activities			32.7	42.8
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS			350.3	(30.4)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD			9.5	48.6
CASH AND CASH EQUIVALENTS, END OF PERIOD	359.8	18.2	359.8	18.2
Non-guarantor subsidiaries [Member]
CURRENT ASSETS:
Cash and cash equivalents	672.6	271.5	457.4	244.7	672.6	457.4
Receivables - trade and other					439.2	409
Prepaid expenses and other current assets					9.7	6.9
Total current assets					1,121.5	873.3
Property and equipment - gross					8,473.9	8,475.3
Less accumulated depreciation and amortization					1,682.5	1,419.6
Property and equipment - net					6,791.4	7,055.7
Investments in subsidiaries					0	0
Due from affiliates					58.2	55.8
Other assets					10.3	15.2
TOTAL ASSETS					7,981.4	8,000
CURRENT LIABILITIES:
Current portion of long-term debt					0
Accounts payable - trade					62.7	89.5
Deferred revenues					78.4	33.1
Accrued liabilities					69.7	65.9
Total current liabilities					210.8	188.5
Long-term debt, less current portion					0	0
Due to affiliates					578.6	1,215.9
Other liabilities					75.5	48.6
Deferred income taxes - net					144	150.8
Shareholders' equity					6,972.5	6,396.2
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY					$ 7,981.4	$ 8,000
Condensed Consolidating Income Statements
REVENUES	378.5	543.5	1,488	1,600
COSTS AND EXPENSES:
Direct operating costs (excluding items below)	191.3	259.4	627	796
Depreciation and amortization	96.7	97.2	286.5	273.6
Selling, general and administrative	19.2	27.3	61.7	75.7
Loss on disposals of property and equipment	0.7	1.8	4.7	1.6
Material charges and other operating items	32.9	332.3	32.9	337.3
Total costs and expenses	340.8	718	1,012.8	1,484.2
Income (loss) from operations	37.7	(174.5)	475.2	115.8
OTHER INCOME (EXPENSE):
Interest expense, net of interest capitalized	(0.6)	(14)	(3.7)	(20.5)
Interest income	0.8	0.5	1.6	0.8
Gain on extinguishment of debt			0
Other - net	(2.1)	(1.7)	(5.4)	(2.9)
Total other income (expense), net	(1.9)	(15.2)	(7.5)	(22.6)
INCOME (LOSS) BEFORE INCOME TAXES	35.8	(189.7)	467.7	93.2
Provision (benefit) for income taxes	(5.2)	(11.8)	17.3	30.5
Equity in earnings of subsidiaries, net of tax	0	0	0	0
NET INCOME (LOSS)	41	(177.9)	450.4	62.7
Statements of Comprehensive Income (Loss)
NET INCOME (LOSS)	41	(177.9)	450.4	62.7
OTHER COMPREHENSIVE INCOME:
Net changes in pension and other postretirement plan assets and benefit obligations recognized in other comprehensive income, net of income taxes	0		0
Net reclassification adjustments for amount recognized in net income (loss) as a component of net periodic benefit cost, net of income taxes	0	0	0	0
OTHER COMPREHENSIVE INCOME	0		0
COMPREHENSIVE INCOME (LOSS)	41	(177.9)	450.4	62.7
Consolidating Statements of Cash Flows
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES			804.1	687.5
INVESTING ACTIVITIES:
Capital expenditures			(57.3)	(660)
Proceeds from disposals of property and equipment			0.7	2.3
Advances on subsidiary notes receivables				0
Collections on subsidiary notes receivables			0	0
Investments in consolidated subsidiaries			0	0
Net cash provided by (used in) investing activities			(56.6)	(657.7)
FINANCING ACTIVITIES:
Advances (to) from affiliates			(76.6)	(30.8)
Contributions from issuer			204.8	36.7
Proceeds from borrowings				481.3
Reductions of long-term debt			(580.8)	(441.2)
Dividends paid			(79.7)	(49)
Net cash provided by (used in) financing activities			(532.3)	(3)
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS			215.2	26.8
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD			457.4	244.7
CASH AND CASH EQUIVALENTS, END OF PERIOD	$ 672.6	$ 271.5	$ 672.6	$ 271.5