Diamond Offshore Drilling (DODRW) 10-Q 2 Nov 20 2020 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2020	Oct. 29, 2020
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3
Trading Symbol	DOFSQ
Entity Registrant Name	DIAMOND OFFSHORE DRILLING, INC.
Entity Central Index Key	0000949039
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		138,054,311
Title of 12(b) Security	Common Stock, $0.01 par value per share
Entity Current Reporting Status	Yes
Entity File Number	1-13926
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	76-0321760
Entity Address, Address Line One	15415 Katy Freeway
Entity Address, City or Town	Houston
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	77094
City Area Code	281
Local Phone Number	492-5300
Document Quarterly Report	true
Document Transition Report	false
Entity Interactive Data Current	Yes

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 422,701	$ 156,281
Restricted cash	25,692
Accounts receivable	144,257	256,315
Less: allowance for credit losses	(5,633)	(5,459)
Accounts receivable, net	138,624	250,856
Prepaid expenses and other current assets	63,269	68,658
Assets held for sale	2,000	1,000
Total current assets	652,286	476,795
Drilling and other property and equipment, net of accumulated depreciation	4,243,106	5,152,828
Other assets	206,481	204,421
Total assets	5,101,873	5,834,044
Current liabilities:
Accounts payable	31,980	68,586
Accrued liabilities	127,516	210,780
Taxes payable	28,359	23,228
Total current liabilities	187,855	302,594
Long-term debt		1,975,741
Deferred tax liability	30,614	47,528
Other liabilities	97,645	275,971
Commitments and contingencies (Note 10)
Total liabilities not subject to compromise	316,114	2,601,834
Liabilities subject to compromise	2,653,655
Stockholders’ equity:
Preferred stock (par value $0.01, 25,000,000 shares authorized, none issued and outstanding)
Common stock (par value $0.01, 500,000,000 shares authorized; 145,263,865 shares issued and 138,054,311 shares outstanding at September 30, 2020; 144,781,766 shares issued and 137,703,910 shares outstanding at December 31, 2019)	1,453	1,448
Additional paid-in capital	2,029,979	2,024,347
Retained earnings	306,835	1,412,201
Accumulated other comprehensive loss		(18)
Treasury stock, at cost (7,209,554 and 7,077,856 shares of common stock at September 30, 2020 and December 31, 2019, respectively)	(206,163)	(205,768)
Total stockholders’ equity	2,132,104	3,232,210
Total liabilities and stockholders’ equity	$ 5,101,873	$ 5,834,044

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Sep. 30, 2020	Dec. 31, 2019
Statement Of Financial Position [Abstract]
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	25,000,000	25,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	500,000,000	500,000,000
Common stock, shares issued	145,263,865	144,781,766
Common stock, shares outstanding	138,054,311	137,703,910
Treasury stock, shares	7,209,554	7,077,856

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Revenues:
Total revenues	$ 138,257	$ 254,020	$ 565,630	$ 704,268
Operating expenses:
Depreciation	75,330	88,693	243,208	263,844
General and administrative	12,781	18,830	44,827	51,436
Impairment of assets			774,028
Restructuring and separation costs	344		17,463
(Gain) loss on disposition of assets	(479)	6,340	(4,132)	1,191
Total operating expenses	227,475	326,854	1,584,767	937,729
Operating loss	(89,218)	(72,834)	(1,019,137)	(233,461)
Other income (expense):
Interest income	22	1,317	520	5,664
Interest expense, net of amounts capitalized (excludes $37,834 and $62,470 of contractual interest expense on debt subject to compromise for the three- and nine-month periods ended September 30, 2020)	(98)	(31,098)	(42,753)	(92,182)
Foreign currency transaction loss	(661)	(77)	(1,458)	(1,883)
Reorganization items, net	(8,663)		(62,640)
Other, net	107	82	349	520
Loss before income tax (expense) benefit	(98,511)	(102,610)	(1,125,119)	(321,342)
Income tax (expense) benefit	(95)	7,482	19,753	38,898
Net loss	$ (98,606)	$ (95,128)	$ (1,105,366)	$ (282,444)
Loss per share, Basic and Diluted	$ (0.71)	$ (0.69)	$ (8.01)	$ (2.05)
Weighted-average shares outstanding:
Shares of common stock	138,054	137,694	137,976	137,636
Total weighted-average shares outstanding	138,054	137,694	137,976	137,636
Contract Drilling [Member]
Revenues:
Total revenues	$ 129,345	$ 242,315	$ 535,848	$ 676,284
Operating expenses:
Contract drilling, excluding depreciation	130,921	201,568	481,376	593,779
Reimbursable Expenses [Member]
Revenues:
Total revenues	8,912	11,705	29,782	27,984
Operating expenses:
Contract drilling, excluding depreciation	$ 8,578	$ 11,423	$ 27,997	$ 27,479

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Operations (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2020
Income Statement [Abstract]
Contractual interest expense of debt	$ 37,834	$ 62,470

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Statement Of Income And Comprehensive Income [Abstract]
Net loss	$ (98,606)	$ (95,128)	$ (1,105,366)	$ (282,444)
Derivative financial instruments:
Reclassification adjustment for loss (gain) included in net loss	21	(2)	18	(5)
Investments in marketable securities:
Unrealized holding gain				23
Reclassification adjustment for gain included in net loss		(8)		(55)
Total other comprehensive gain (loss)	21	(10)	18	(37)
Comprehensive loss	$ (98,585)	$ (95,138)	$ (1,105,348)	$ (282,481)

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Gains (Losses) [Member]	Treasury Stock [Member]
Beginning Balance at Dec. 31, 2018	$ 3,584,653	$ 1,444	$ 2,018,143	$ 1,769,415	$ 21	$ (204,370)
Beginning Balance, shares at Dec. 31, 2018		144,383,662				6,945,309
Net loss	(282,444)			(282,444)
Stock-based compensation, net of tax	3,152	$ 4	4,529			$ (1,381)
Stock-based compensation, net of tax, shares		385,416				129,456
Net loss on investments	(32)				(32)
Net (loss) gain on derivative financial instruments	(5)				(5)
Ending Balance at Sep. 30, 2019	3,305,324	$ 1,448	2,022,672	1,486,971	(16)	$ (205,751)
Ending Balance, shares at Sep. 30, 2019		144,769,078				7,074,765
Beginning Balance at Jun. 30, 2019	3,398,897	$ 1,448	2,021,095	1,582,099	(6)	$ (205,739)
Beginning Balance, shares at Jun. 30, 2019		144,764,125				7,073,498
Net loss	(95,128)			(95,128)
Stock-based compensation, net of tax	1,565		1,577			$ (12)
Stock-based compensation, net of tax, shares		4,953				1,267
Net loss on investments	(8)				(8)
Net (loss) gain on derivative financial instruments	(2)				(2)
Ending Balance at Sep. 30, 2019	3,305,324	$ 1,448	2,022,672	1,486,971	(16)	$ (205,751)
Ending Balance, shares at Sep. 30, 2019		144,769,078				7,074,765
Beginning Balance at Dec. 31, 2019	3,232,210	$ 1,448	2,024,347	1,412,201	(18)	$ (205,768)
Beginning Balance, shares at Dec. 31, 2019		144,781,766				7,077,856
Net loss	(1,105,366)			(1,105,366)
Stock-based compensation, net of tax	5,242	$ 5	5,632			$ (395)
Stock-based compensation, net of tax, shares		482,099				131,698
Net (loss) gain on derivative financial instruments	18				18
Ending Balance at Sep. 30, 2020	2,132,104	$ 1,453	2,029,979	306,835		$ (206,163)
Ending Balance, shares at Sep. 30, 2020		145,263,865				7,209,554
Beginning Balance at Jun. 30, 2020	2,230,689	$ 1,453	2,029,978	405,441	(21)	$ (206,162)
Beginning Balance, shares at Jun. 30, 2020		145,258,536				7,208,189
Net loss	(98,606)			(98,606)
Stock-based compensation, net of tax			1			$ (1)
Stock-based compensation, net of tax, shares		5,329				1,365
Net (loss) gain on derivative financial instruments	21				$ 21
Ending Balance at Sep. 30, 2020	$ 2,132,104	$ 1,453	$ 2,029,979	$ 306,835		$ (206,163)
Ending Balance, shares at Sep. 30, 2020		145,263,865				7,209,554

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Operating activities:
Net loss	$ (1,105,366)	$ (282,444)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation	243,208	263,844
Loss on impairment of assets	774,028
Reorganization items, net	22,107
(Gain) loss on disposition of assets	(4,132)	1,191
Deferred tax provision	(16,865)	(48,323)
Stock-based compensation expense	5,637	4,533
Contract liabilities, net	9,814	15,060
Contract assets, net	3,048	302
Deferred contract costs, net	(2,578)	49,866
Long-term employee remuneration programs	(4,803)	1,609
Noncurrent collateral deposits	(18,262)
Other assets, noncurrent	(8,513)	180
Other liabilities, noncurrent	(3,240)	(90)
Other	2,964	799
Changes in operating assets and liabilities:
Accounts receivable	107,148	(27,177)
Prepaid expenses and other current assets	3,957	(128)
Accounts payable and accrued liabilities	(10,440)	7,115
Taxes payable	9,728	(548)
Net cash provided by (used in) operating activities	7,440	(14,211)
Investing activities:
Capital expenditures	(162,621)	(249,819)
Proceeds from sale of foreign bonds	5,915
Proceeds from maturities of marketable securities		2,300,000
Purchase of marketable securities		(1,996,996)
Proceeds from disposition of assets, net of disposal costs	5,378	16,097
Net cash (used in) provided by investing activities	(151,328)	69,282
Financing activities:
Borrowings under credit facility	436,000
Other		(12)
Net cash provided by (used in) financing activities	436,000	(12)
Net change in cash, cash equivalents and restricted cash	292,112	55,059
Cash, cash equivalents and restricted cash, beginning of period	156,281	154,073
Cash, cash equivalents and restricted cash, end of period	$ 448,393	$ 209,132

General Information

General Information	9 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
General Information	1. General Information The unaudited condensed consolidated financial statements of Diamond Offshore Drilling, Inc. and subsidiaries, which we refer to as “Diamond Offshore,” “we,” “us” or “our,” should be read in conjunction with our Annual Report on Form 10-K/A for the year ended December 31, 2019 (File No. 1-13926). As of October 29, 2020, Loews Corporation owned approximately 53% of the outstanding shares of our common stock. Interim Financial Information The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States, or GAAP, for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X of the Securities and Exchange Commission. Accordingly, pursuant to such rules and regulations, they do not include all disclosures required by GAAP for annual financial statements. The condensed consolidated financial information has not been audited but, in the opinion of management, includes all adjustments (consisting of normal recurring adjustments) necessary for a fair presentation of Diamond Offshore’s condensed consolidated balance sheets, statements of operations, statements of comprehensive loss, statements of stockholders’ equity and statements of cash flows at the dates and for the periods indicated. Results of operations for interim periods are not necessarily indicative of results of operations for the respective full years. Use of Estimates in the Preparation of Financial Statements The preparation of financial statements in conformity with 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 amount of revenues and expenses during the reporting period. Actual results could differ from those estimated. Recently Adopted Accounting Pronouncements In June 2016, the Financial Accounting Standards Board, or FASB, issued Accounting Standards Update, or ASU, No. 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments to measure credit losses of certain financial assets, including trade receivables, utilizing a Restricted Cash We maintain restricted cash bank accounts, which are subject to restrictions pursuant to a Bankruptcy Court order, to settle certain professional fees incurred upon or prior to our emergence from bankruptcy. See Note 2. We classify such restricted cash accounts in current assets if the restrictions are expected to expire or otherwise be resolved within one year or if such funds are considered to offset current liabilities. At September 30, 2020, our restricted cash was considered to be current and was recorded in “Restricted cash” in our unaudited Condensed Consolidated Balance Sheets. See Note 7. Asset s Held for Sale We reported the aggregate Ocean America Ocean Rover

Chapter 11 Proceedings

Chapter 11 Proceedings	9 Months Ended
	Sep. 30, 2020
Reorganizations [Abstract]
Chapter 11 Proceedings	2. Chapter 11 Proceedings Chapter 11 Cases On April 26, 2020 (or the Petition Date), Diamond Offshore Drilling, Inc. (or the Company) and certain of its direct and indirect subsidiaries (which we refer to, together with the Company, as the Debtors) filed voluntary petitions for relief under chapter 11 (or Chapter 11) of title 11 of the United States Code (or the Chapter 11 Cases) in the United States Bankruptcy Court for the Southern District of Texas (or the Bankruptcy Court). The Chapter 11 Cases are jointly administered under the caption In re Diamond Offshore Drilling, Inc., et al., . The Debtors filed motions with the Bankruptcy Court seeking authorization to continue to operate their businesses as “debtors-in-possession” under the jurisdiction of the Bankruptcy Court and in accordance with the applicable provisions of the United States Bankruptcy Code (or the Bankruptcy Code) and orders of the Bankruptcy Court. To ensure their ability to continue operating in the ordinary course of business, the Debtors filed with the Bankruptcy Court a variety of motions seeking “first day” relief, including authority to continue using their cash management system, pay employee wages and benefits and pay certain vendors and suppliers in the ordinary course of business (or the First Day Motions), all of which were approved. Pursuant to the First Day Motions, and subject to certain terms and dollar limits included therein, the Debtors were authorized to continue to use their unrestricted cash on hand, as well as all cash generated from daily operations, which is being used to continue the Debtors’ operations without interruption during the course of their restructuring. Also pursuant to the First Day Motions, the Debtors received Bankruptcy Court authorization to, among other things and subject to the terms and conditions set forth in the applicable orders, pay prepetition employee wages, salaries, health benefits and other employee obligations during their restructuring, pay certain claims relating to critical and other vendors, continue their cash management programs and insurance policies and continue to honor their current customer programs. The Debtors are authorized under the Bankruptcy Code to pay post-petition expenses incurred in the ordinary course of business without seeking Bankruptcy Court approval. Until a plan of reorganization is approved and effective, the Debtors will continue to manage their properties and operate their businesses as “debtors-in-possession” under the jurisdiction of the Bankruptcy Court and in accordance with the applicable provisions of the Bankruptcy Code and the orders of the Bankruptcy Court. Commencement of the Chapter 11 Cases automatically stayed most actions against the Debtors, including actions to collect indebtedness incurred prior to the Petition Date, actions to enforce pre-Petition Date contractual rights or remedies against the Debtors and actions to exercise control over the Debtors’ property. Subject to certain exceptions under the Bankruptcy Code, the commencement of the Chapter 11 Cases also automatically stayed the continuation of most legal proceedings or the filing of other actions against the Debtors or their property to recover on, collect, or secure a claim arising prior to the Petition Date or to exercise control over property of the Debtors’ bankruptcy estates, unless and until the Bankruptcy Court modifies or lifts the automatic stay as to any such claim. Notwithstanding the general application of the automatic stay described above, governmental authorities may determine to continue actions brought under their police and regulatory powers. The U.S. Trustee for the Southern District of Texas filed a notice appointing an official committee of unsecured creditors on May 11, 2020, which was subsequently reconstituted on June 11, 2020 and September 14, 2020. On May 27, 2020, the Bankruptcy Court approved a new key employee retention plan and a new non-executive incentive plan covering certain non-executive key employees. On June 23, 2020, the Bankruptcy Court approved a key employee incentive plan covering certain additional key employees, including our executive officers. Upon the participating employee’s acceptance of an award under the new compensation plans, all outstanding unvested incentive awards previously granted to the employee under our previously-existing incentive plans, consisting of restricted stock units (or RSUs), stock appreciation rights (or SARs) and/or cash incentive awards, were canceled. As of September 30, 2020, the Debtors had not emerged from bankruptcy and no plan of reorganization or restructuring support agreement had been filed with the Bankruptcy Court . Negotiations between the various parties to the Chapter 11 Cases are ongoing. A plan of reorganization, if and when approved by the Bankruptcy Court, could materially change the amounts and classifications of assets and liabilities reported in the accompanying unaudited condensed consolidated financial statements. Going Concern During the first quarter of 2020, the business climate in which we operate experienced a significant adverse change, primarily as a result of the market impacts of the oil price war between Saudi Arabia and Russia and regulatory, market and commercial challenges that arose due to the COVID-19 pandemic and efforts to mitigate the spread of the virus, both of which resulted in a dramatic decline in oil prices. As a result of the filing of the Chapter 11 Cases, the principal and interest due under our outstanding senior notes and revolving credit facility became immediately due and payable and have been presented as “Liabilities subject to compromise” in our unaudited Condensed Consolidated Balance Sheets at September 30, 2020. However, any We have projected that we will not have sufficient cash on hand or available liquidity to repay all such outstanding debt. For the nine months ended September 30, 2020 we reported a net loss of $1.1 billion, inclusive of a pre-tax $774.0 million impairment charge. These conditions and events raise substantial doubt over our ability to continue as a going concern for twelve months after the date our financial statements are issued. Financial information in this report has been prepared on the basis that we will continue as a going concern, which presumes that we will be able to realize our assets and discharge our liabilities in the normal course of business as they come due. Financial information in this report does not reflect the adjustments to the carrying values of assets and liabilities and the reported expenses and balance sheet classifications that would be necessary if we were unable to realize our assets and settle our liabilities as a going concern in the normal course of operations. Such adjustments could be material. Our long-term liquidity requirements and the adequacy of capital resources are difficult to predict at this time. Although we anticipate that the Chapter 11 Cases will help address our liquidity concerns, as of September 30, 2020, we do not have a plan of reorganization in place. Additionally, the approval of a plan of reorganization is not within our control and uncertainty remains over the Bankruptcy Court's approval of a plan of reorganization. As such, due to the absence of a plan of reorganization and lack of clarity regarding emergence from bankruptcy, we have concluded that substantial doubt continues to exist about our ability to continue as a going concern. Chapter 11 Accounting We have prepared our unaudited condensed consolidated financial statements as if we were a going concern and in accordance with FASB Accounting Standards Codification Topic No. 852 – Reorganizations Prepetition Restructuring Charges Reorganization Items The following table provides information about reorganization items incurred during the three- and nine -month period s ended September 30, 2020 , subsequent to the Petition Date (in thousands): Three Months Ended Nine Months Ended September 30, 2020 Professional fees $ 18,634 $ 39,293 Write-off of debt issuance costs — 27,552 Net gain on settlement with certain unsecured vendors (9,971 ) (4,205 ) Total reorganization items, net $ 8,663 $ 62,640 Payments of $23.8 million related to professional fees and vendor cancellation costs have been presented as cash outflows from operating activities in our unaudited Condensed Consolidated Statements of Cash Flows for the nine months ended September 30, 2020. See Note 5. Liabilities Subject to Compromise . We have reported prepetition unsecured and under-secured obligations that may be impacted by the Chapter 11 Cases as “Liabilities subject to compromise” in our unaudited Condensed Consolidated Balance Sheets at September 30, 2020. ASC 852 requires prepetition liabilities that are subject to compromise to be reported at the amounts expected to be allowed by the Bankruptcy Court. The amounts currently reported as liabilities subject to compromise are preliminary and may be subject to future adjustment depending on Bankruptcy Court actions, further developments with respect to disputed claims, determinations of the secured status of certain claims, the values of any collateral securing such claims, rejection of executory contracts, continued reconciliation or other events. These amounts represent our best estimate of allowed claims that will be resolved as part of the bankruptcy proceedings but may be ultimately settled for a lesser amount. We will continue to evaluate these liabilities throughout the Chapter 11 Cases and adjust amounts as necessary. Such adjustments may be material. Liabilities subject to compromise at September 30, 2020 consist of the following (in thousands): September 30, 2020 Debt subject to compromise: Borrowings under credit facility $ 436,000 3.45% Senior Notes due 2023 250,000 7.875% Senior Notes due 2025 500,000 5.70% Senior Notes due 2039 500,000 4.875% Senior Notes due 2043 750,000 Lease liabilities 140,580 Accrued interest 47,636 Accounts payable 19,912 Other accrued liabilities 5,306 Other liabilities 4,221 Total liabilities subject to compromise $ 2,653,655 Upon filing of the Chapter 11 Cases on April 26, 2020, we ceased accruing interest on our senior unsecured debt and borrowings under our credit facility. As a result, we did not record $28.3 million and $48.5 million of contractual interest expense related to our senior notes for the three and nine months ended September 30, 2020, respectively, and $9.5 million and $13.9 million of contractual interest expense related to borrowings under our credit facility for the three- and nine-month periods ended September 30, 2020, respectively Debtor Financial Statements . Unaudited condensed combined financial statements of the Debtors are set forth below. These financial statements exclude the financial statements of the non-Debtor subsidiaries. Transactions and balances of receivables and payables between the Debtors have been eliminated in consolidation. Amounts payable to the non-Debtor subsidiaries are reported in the unaudited condensed consolidated balance sheet of the Debtors. DIAMOND OFFSHORE DRILLING, INC. AND CERTAIN SUBSIDIARIES PARTY TO THE BANKRUPTCY CASES (DEBTOR-IN-POSSESSION) CONDENSED COMBINED BALANCE SHEET (Unaudited) (In thousands) September 30, 2020 ASSETS Current assets: Cash and cash equivalents $ 407,222 Restricted cash 25,692 Accounts receivable 128,480 Less: allowance for credit losses (175 ) Accounts receivable, net 128,305 Prepaid expenses and other current assets 49,577 Assets held for sale 1,000 Total current assets 611,796 Drilling and other property and equipment, net of accumulated depreciation 4,232,543 Investments in non-debtor subsidiaries 2,458,447 Noncurrent deferred tax assets, net 31,356 Other assets 192,094 Total assets $ 7,526,236 LIABILITIES AND DEBTORS’ EQUITY Current liabilities: Accounts payable $ 28,993 Accrued liabilities 114,935 Taxes payable 26,062 Amounts payable to non-debtor subsidiaries 1,043,326 Total current liabilities 1,213,316 Note payable to non-debtor subsidiary 328,000 Other liabilities 45,157 Total liabilities not subject to compromise 1,586,473 Liabilities subject to compromise 2,653,655 Total debtors’ equity 3,286,108 Total liabilities and debtors’ equity $ 7,526,236 DIAMOND OFFSHORE DRILLING, INC. AND CERTAIN SUBSIDIARIES PARTY TO THE BANKRUPTCY CASES (DEBTOR-IN-POSSESSION) CONDENSED COMBINED STATEMENT OF OPERATIONS (Unaudited) (In thousands) Nine Months Ended September 30, 2020 Revenues: Contract drilling $ 460,877 Revenues related to reimbursable expenses 29,806 Total revenues 490,683 Operating expenses: Contract drilling, excluding depreciation 415,613 Reimbursable expenses 28,020 Depreciation 242,480 General and administrative 41,497 Impairment of assets 774,028 Restructuring and separation costs 15,383 Gain on disposition of assets (3,989 ) Total operating expenses 1,513,032 Operating loss (1,022,349 ) Other income (expense): Interest income 502 Interest expense, net of amounts capitalized (50,155 ) Foreign currency transaction gain 591 Reorganization items, net (62,640 ) Other, net (499 ) Loss before income tax benefit (1,134,550 ) Income tax benefit 27,117 Net loss $ (1,107,433 ) DIAMOND OFFSHORE DRILLING, INC. AND CERTAIN SUBSIDIARIES PARTY TO THE BANKRUPTCY CASES (DEBTOR-IN-POSSESSION) CONDENSED COMBINED STATEMENT OF CASH FLOWS (Unaudited) (In thousands) Nine Months Ended September 30, 2020 Operating activities: Net loss $ (1,107,433 ) Adjustments to reconcile net loss to net cash provided by operating activities: Depreciation 242,480 Loss on impairment of assets 774,028 Reorganization items, net 22,107 Gain on disposition of assets (3,989 ) Deferred tax provision (16,846 ) Stock-based compensation expense 5,637 Contract liabilities, net 13,595 Contract assets, net 2,762 Deferred contract costs, net (8,085 ) Long-term employee remuneration programs (5,079 ) Noncurrent collateral deposits (18,262 ) Other assets, noncurrent (8,756 ) Other 3,013 Changes in operating assets and liabilities: Accounts receivable 68,908 Prepaid expenses and other current assets 15,022 Accounts payable and accrued liabilities 1,439 Taxes payable (15,462 ) Due to non-debtor subsidiaries 47,111 Net cash provided by operating activities 12,190 Investing activities: Capital expenditures (156,885 ) Capital contribution to non-debtor subsidiary (5,724 ) Proceeds from disposition of assets, net of disposal costs 5,235 Net cash used in investing activities (157,374 ) Financing activities: Borrowings under credit facility 436,000 Net cash provided by financing activities 436,000 Net change in cash, cash equivalents and restricted cash 290,816 Cash, cash equivalents and restricted cash, beginning of period 142,098 Cash, cash equivalents and restricted cash, end of period $ 432,914

Revenue from Contracts with Cus

Revenue from Contracts with Customers	9 Months Ended
	Sep. 30, 2020
Revenue From Contract With Customer [Abstract]
Revenue from Contracts with Customers	3. Revenue from Contracts with Customers The activities that primarily drive the revenue earned from our contract drilling services include (i) providing a drilling rig and the crew and supplies necessary to operate the rig, (ii) mobilizing and demobilizing the rig to and from the drill site and (iii) performing rig preparation activities and/or modifications required for the contract. Consideration received for performing these activities may consist of dayrate drilling revenue, mobilization and demobilization revenue, contract preparation revenue and reimbursement revenue. We account for these integrated services provided within our drilling contracts as a single performance obligation satisfied over time and comprised of a series of distinct time increments in which we provide drilling services. Consideration for activities that are not distinct within the context of our contracts and do not correspond to a distinct time increment within the contract term are allocated across the single performance obligation and recognized ratably over the initial term of the contract (which is the period we estimate to be benefited from the corresponding activities and generally ranges from two to 60 months). Such consideration may include mobilization, demobilization, contract preparation and capital modification revenue that is stipulated in our drilling contracts. Consideration for activities that correspond to a distinct time increment within the contract term is recognized in the period when the services are performed. The total transaction price is determined for each individual contract by estimating both fixed and variable consideration expected to be earned over the term of the contract. Contract Balances The following table provides information about receivables, contract assets and contract liabilities from our contracts with customers (in thousands): September 30, December 31, 2020 2019 Trade receivables $ 123,025 $ 199,572 Current contract assets (1) 3,266 6,314 Current contract liabilities (deferred revenue) (1) (45,389 ) (9,573 ) Noncurrent contract liabilities (deferred revenue) (1) (12,529 ) (38,531 ) (1) Significant changes in the contract assets and the contract liabilities balances during the period are as follows (in thousands): Net Contract Balances Contract assets at January 1, 2020 $ 6,314 Contract liabilities at January 1, 2020 (48,104 ) Net balance at January 1, 2020 (41,790 ) Decrease due to amortization of revenue included in the beginning contract liability balance 31,016 Increase due to cash received, excluding amounts recognized as revenue during the period (40,857 ) Increase due to revenue recognized during the period but contingent on future performance 3,324 Decrease due to transfer to receivables during the period (5,646 ) Adjustments (699 ) Net balance at September 30, 2020 $ (54,652 ) Contract assets at September 30, 2020 $ 3,266 Contract liabilities at September 30, 2020 (57,918 ) Transaction Price Allocated to Remaining Performance Obligations The following table reflects the specified types of revenue expected to be recognized in the future related to unsatisfied performance obligations as of September 30, 2020 (in thousands): For the Years Ending December 31, 2020 (1) 2021 2022 Total Mobilization and contract preparation revenue $ 3,024 $ 26,156 $ 2,600 $ 31,780 Capital modification revenue 4,393 13,963 1,466 19,822 Blended rate revenue and other 3,138 14,092 169 17,399 Total $ 10,555 $ 54,211 $ 4,235 $ 69,001 (1) three-month The revenue included above consists of expected fixed mobilization and upgrade revenue for both wholly and partially unsatisfied performance obligations, as well as expected variable mobilization and upgrade revenue for partially unsatisfied performance obligations, which has been estimated for purposes of allocating across the entire corresponding performance obligations. Revenue expected to be recognized in the future related to the blending of rates when a contract has operating dayrates that decrease over the initial contract term is also included. The amounts are derived from the specific terms within drilling contracts that contain such provisions, and the expected timing for recognition of such revenue is based on the estimated start date and duration of each respective contract based on information known at September 30, 2020. The actual timing of recognition of such amounts may vary due to factors outside of our control. We have applied the disclosure practical expedient in ASU No. 2014-09, Revenue from Contracts with Customers

Impairment of Assets

Impairment of Assets	9 Months Ended
	Sep. 30, 2020
Goodwill And Intangible Assets Disclosure [Abstract]
Impairment of Assets	4 . Impairment of Assets 2020 Evaluation. For the third quarter ended September 30, 2020, we evaluated three of our drilling rigs with indicators of impairment. Based on our assumptions and analysis at that time, we determined that the undiscounted probability-weighted cash flow for each rig was in excess of its respective carrying value. As a result, we concluded that no impairment of these rigs had occurred at September 30, 2020. As discussed in Note 2, during the first quarter of 2020, the business climate in which we operate experienced a significant adverse change, which resulted in a dramatic decline in oil prices. During the first quarter of 2020, we evaluated five of our drilling rigs that had indicators of impairment. Based on our assumptions and analysis at that time, we determined that the carrying value of four of these rigs was impaired (we collectively refer to these four rigs as the 2020 Impaired Rigs). We estimated the fair values of the 2020 Impaired Rigs using an income approach, whereby the fair value of each rig was estimated based on a calculation of the rig’s future net cash flows. These calculations utilized significant unobservable inputs, including management’s assumptions related to estimated dayrate revenue, rig utilization, estimated capital expenditures, repair and regulatory survey costs, as well as We recorded aggregate impairments of $774.0 million for the nine months ended September 30, 2020 related to our 2020 Impaired Rigs. See Note 7. We evaluate our property and equipment for impairment whenever changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If market fundamentals in the offshore oil and gas industry deteriorate further or a market recovery is further delayed, we may be required to recognize additional impairment charges in future periods.

Supplemental Financial Informat

Supplemental Financial Information	9 Months Ended
	Sep. 30, 2020
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Supplemental Financial Information	5. Supplemental Financial Information Condensed Accounts receivable, net of allowance for credit losses, consist of the following (in thousands): September 30, December 31, 2020 2019 Trade receivables $ 123,025 $ 199,572 Value added tax receivables 12,505 17,716 Federal income tax receivables 8,420 38,574 Related party receivables 75 166 Other 232 287 144,257 256,315 Allowance for credit losses (5,633 ) (5,459 ) Total $ 138,624 $ 250,856 The allowance for credit losses at September 30, 2020 and December 31, 2019, represents our current estimate of credit losses associated with our “Trade receivables” and “Current contract assets.” See Note 7 for a discussion of our concentrations of credit risk and allowance for credit losses. Prepaid expenses and other current assets consist of the following (in thousands): September 30, December 31, 2020 2019 Deferred contract costs $ 18,770 $ 20,019 Prepaid taxes 15,174 12,475 Rig spare parts and supplies 13,465 18,250 Current contract assets 3,266 6,314 Prepaid insurance 3,247 2,892 Prepaid rig costs 2,459 2,990 Prepaid legal retainers 2,454 — Other 4,434 5,718 Total $ 63,269 $ 68,658 Accrued liabilities consist of the following (in thousands): September 30, December 31, 2020 2019 Deferred revenue $ 45,389 $ 9,573 Payroll and benefits 31,652 42,494 Shorebase and administrative costs 19,890 5,275 Rig operating expenses 17,355 37,969 Personal injury and other claims 6,210 7,074 Accrued capital project/upgrade costs 4,772 56,603 Current operating lease liability 620 20,030 Interest payable — 28,234 Other 1,628 3,528 Total $ 127,516 $ 210,780 Condensed Consolidated Statements of Cash Flows Information Noncash operating and investing activities excluded from the unaudited Condensed Consolidated Statements of Cash Flows and other supplemental cash flow information is as follows (in thousands): Nine Months Ended September 30, 2020 2019 Accrued but unpaid capital expenditures at period end $ 5,242 $ 39,169 Common stock withheld for payroll tax obligations (1) 395 1,381 Cash interest payments 19,843 76,219 Cash paid for reorganization items, net 23,818 — Cash income taxes paid, net of (refunds): Foreign 11,229 13,227 U.S. Federal (42,462 ) — State 36 (15 ) (1) Represents the cost of 131,698 shares and 129,456 shares of common stock withheld to satisfy payroll tax obligations incurred as a result of the vesting of restricted stock units during the nine-month periods ended September 30, 2020 and 2019, respectively. These costs are presented as a deduction from stockholders’ equity in “Treasury stock” in our unaudited Condensed Consolidated Balance Sheets at September 30, 2020 and 2019, respectively. In June 2020, we received Trinidad bonds in settlement of a VAT receivable. The bonds were valued at $5.7 million based on third-party quotes received, which approximated the amount of the settled receivable. During the third quarter of 2020, we sold the bonds for proceeds of $5.9 million.

Loss Per Share

Loss Per Share	9 Months Ended
	Sep. 30, 2020
Earnings Per Share [Abstract]
Loss Per Share	6. Loss Per Share We present basic and diluted net loss per share on our unaudited Condensed Consolidated Statements of Operations. Basic net loss per share excludes dilution and is computed by dividing net loss by the weighted-average number of shares of common stock outstanding for the period. For all periods in which we experience a net loss, all shares of common stock issuable upon exercise of outstanding stock appreciation rights and vesting of outstanding restricted stock units have been excluded from the calculation of weighted-average shares because their inclusion would be antidilutive. The following table sets forth the stock-based awards excluded from the computations of diluted loss per share (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Employee and director: Stock appreciation rights 607 970 636 995 Restricted stock units — 1,261 — 1,188

Financial Instruments and Fair

Financial Instruments and Fair Value Disclosures	9 Months Ended
	Sep. 30, 2020
Fair Value Disclosures [Abstract]
Financial Instruments and Fair Value Disclosures	7. Financial Instruments and Fair Value Disclosures Concentrations of Credit Risk and Allowance for Credit Losses Our credit risk corresponds primarily to trade receivables. Since the market for our services is the offshore oil and gas industry, our customer base consists primarily of major and independent oil and gas companies, as well as government-owned oil companies. At September 30, 2020, we believe that we have potentially significant concentrations of credit risk due to the number of rigs we currently have contracted and our limited number of customers, as some of our customers have contracted for multiple rigs. In general, before working for a customer with whom we have not had a prior business relationship and/or whose financial stability may be uncertain, we perform a credit review on that customer, including a review of its credit ratings and financial statements. Based on that credit review, we may require that the customer have a bank issue a letter of credit on its behalf, prepay for the services in advance or provide other credit enhancements. We currently have one customer for which we have required a letter of credit to guarantee $12.8 million of the revenue to be earned pursuant to a contract extension amendment signed during the third quarter of 2020. We have not required any other credit enhancements by our customers or required any to pay for services in advance at September 30, 2020. We have historically used the specific identification method to identify and reserve for uncollectible accounts. The amounts reserved for uncollectible accounts in previous periods have not been significant, individually or in comparison to our total revenues. At September 30, 2020, $6.4 million in trade receivables were considered past due by 30 days or more, of which $5.5 million were fully reserved for in previous years and the remaining $0.9 million were less than 90 days past due and considered collectible. Pursuant to ASU 2016-13, we have reviewed our historical credit loss experience over a look-back period of ten years, which we deem to be representative of both up-turns and down-cycles in the offshore drilling industry. Based on this review, we developed a credit loss factor using a weighted-average ratio of our actual credit losses to revenues during the look-back period. In addition, we also considered current and future anticipated economic conditions in determining our credit loss factor, including crude oil prices and liquidity of credit markets. In applying the requirements of CECL, we segregated our trade receivables into three credit loss risk pools based on customer credit ratings, each of which represents a tier of increasing credit risk. We calculated a credit loss factor based on historical loss rate information and then applied a multiple of our credit loss factor to each of these risk pools, considering the impact of current and future economic information and the level of risk associated with these pools, to calculate our current estimate of credit losses. Trade receivables that are fully covered by allowances for credit losses are excluded from these risk pools for purposes of calculating our current estimate of credit losses. For purposes of calculating our current estimate of credit losses at January 1, 2020 and September 30, 2020, all trade receivables were deemed to be in a single risk pool based on their credit ratings at each respective period. Our current estimate of credit losses under CECL was $0.2 million at September 30, 2020, which included the cumulative adjustment recorded for the initial adoption of ASU 2016-13. Due to immateriality, the cumulative adjustment was recorded in “Contract drilling, excluding depreciation” expense in our unaudited Condensed Consolidated Statements of Operations instead of in opening retained earnings as prescribed in ASU 2016-13. Our total allowance for credit losses was $5.6 million and $5.5 million at September 30, 2020 and December 31, 2019, respectively. See Notes 1 and 5. Fair Values 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 GAAP requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. There are three levels of inputs that may be used to measure fair value: Level 1 Quoted prices for identical instruments in active markets. Level 2 Level 3 Valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable. Level 3 assets and liabilities generally include financial instruments whose value is determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires significant management judgment or estimation or for which there is a lack of transparency as to the inputs used. Certain of our assets and liabilities are required to be measured at fair value on a recurring basis in accordance with GAAP. In addition, certain assets and liabilities may be recorded at fair value on a nonrecurring basis. Generally, we record assets at fair value on a nonrecurring basis as a result of impairment charges. We recorded an impairment charge related to four of our drilling rigs, which were measured at fair value on a nonrecurring basis at March 31, 2020, and have presented the aggregate loss in “Impairment of assets” in our unaudited Condensed Consolidated Statements of Operations for the nine months ended September 30 , 2020. We had no assets measured at fair value on a recurring basis at September 30, 2020. Assets measured at fair value are summarized below (in thousands). September 30, 2020 Fair Value Measurements Using Level 1 Level 2 Level 3 Assets at Fair Value Total Losses for Nine Months Ended (1) Nonrecurring fair value measurements: Impaired assets (1) $ — $ — $ — $ — $ 774,028 (1) Represents the aggregate impairment charge recognized during the three months ended March 31, 2020 related to four semisubmersible rigs, which were written down to their estimated fair values. See Note 4. December 31, 2019 Fair Value Measurements Using Level 1 Level 2 Level 3 Assets at Fair Value Recurring fair value measurements: Money market funds $ 135,300 $ — $ — $ 135,300 We believe that the carrying amounts of our other financial assets and liabilities (excluding our senior notes), which are not measured at fair value in our unaudited Condensed Consolidated Balance Sheets, approximate fair value based on the following assumptions: • Cash and cash equivalents and restricted cash -- The carrying amounts approximate fair value because of the short maturity of these instruments. • Accounts receivable and accounts payable -- The carrying amounts approximate fair value based on the nature of the instruments. Our senior notes are not measured at fair value; however, under the GAAP fair value hierarchy, our senior notes would be considered Level 2 liabilities. The fair value of our senior notes was derived using a third-party pricing service at September 30, 2020 and December 31, 2019. We perform control procedures over information we obtain from pricing services and brokers to test whether prices received represent a reasonable estimate of fair value. These procedures include the review of pricing service or broker pricing methodologies and comparing fair value estimates to actual trade activity executed in the market for these instruments occurring generally within a 10-day period of the report date. Fair values and related carrying values of our senior notes are shown below (in millions). September 30, 2020 December 31, 2019 Fair Value Carrying Value Fair Value Carrying Value 3.45% Senior Notes due 2023 $ 23.8 $ 250.0 $ 212.5 $ 249.6 7.875% Senior Notes due 2025 46.4 500.0 435.0 497.1 5.70% Senior Notes due 2039 44.4 500.0 292.5 497.3 4.875% Senior Notes due 2043 69.0 750.0 408.8 749.0 We have estimated the fair value amounts by using appropriate valuation methodologies and information available to management. Considerable judgment is required in developing these estimates, and accordingly, no assurance can be given that the estimated values are indicative of the amounts that would be realized in a free market exchange.

Drilling and Other Property and

Drilling and Other Property and Equipment	9 Months Ended
	Sep. 30, 2020
Property Plant And Equipment [Abstract]
Drilling and Other Property and Equipment	8. Drilling and Other Property and Equipment Cost and accumulated depreciation of drilling and other property and equipment are summarized as follows (in thousands): September 30, December 31, 2020 2019 Drilling rigs and equipment $ 7,026,827 $ 8,004,489 Land and buildings 64,076 64,267 Office equipment and other 92,216 92,289 Cost 7,183,119 8,161,045 Less: accumulated depreciation (2,940,013 ) (3,008,217 ) Drilling and other property and equipment, net $ 4,243,106 $ 5,152,828 During the first quarter of 2020, we recorded an aggregate impairment charge of $774.0 million, to write down four of our drilling rigs with indicators of impairment to their estimated fair values. See Notes 4 and 7. In the second quarter of 2020, we transferred the net book value of the Ocean America and Ocean Rover , two previously impaired semisubmersible rigs, to “Assets held for sale” in our unaudited Condensed Consolidated Balance Sheets at September 30, 2020.

Credit Agreements

Credit Agreements	9 Months Ended
	Sep. 30, 2020
Debt Disclosure [Abstract]
Credit Agreements	9. Credit Agreements Effective March 17, 2020, we terminated our $225.0 million revolving credit agreement, which was scheduled to mature on October 22, 2020. At the time of termination, there were no borrowings outstanding under the facility. We did not incur any early termination penalties in connection with the termination and wrote off $0.5 million in deferred arrangement fees associated with the facility. In March 2020, we borrowed $436.0 million under our $950.0 million senior 5-year revolving credit agreement, or Credit Agreement, which we entered into on October 2, 2018. The weighted average interest rate on the combined borrowings at September 30, 2020 was 6.64%. The principal and interest under the Credit Agreement became immediately due and payable upon filing of the Chapter 11 Cases, which constituted an event of default under the Credit Agreement. Also, as a result of the filing of the Chapter 11 Cases, we received notification on April 28, 2020 that the commitments under our Credit Agreement had been reduced from $950 million to approximately $442.0 million, representing the amount of borrowings outstanding plus the value of a . have been presented as “Liabilities subject to compromise” in our unaudited Condensed Consolidated Balance Sheets at September 30, 2020.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2020
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	10. Commitments and Contingencies Various claims have been filed against us in the ordinary course of business, including claims by offshore workers alleging personal injuries. With respect to each claim or exposure, we have made an assessment, in accordance with GAAP, of the probability that the resolution of the matter would ultimately result in a loss. When we determine that an unfavorable resolution of a matter is probable and such amount of loss can be determined, we record a liability for the amount of the estimated loss at the time that both of these criteria are met. Our management believes that we have recorded adequate accruals for any liabilities that may reasonably be expected to result from these claims. Asbestos Litigation We are one of several unrelated defendants in lawsuits filed in Louisiana state courts alleging that defendants manufactured, distributed or utilized drilling mud containing asbestos and, in our case, allowed such drilling mud to have been utilized aboard our drilling rigs. The plaintiffs seek, among other things, an award of unspecified compensatory and punitive damages. The manufacture and use of asbestos-containing drilling mud had already ceased before we acquired any of the drilling rigs addressed in these lawsuits. We believe that we are not liable for the damages asserted in the lawsuits pursuant to the terms of our 1989 asset purchase agreement with Diamond M Corporation. We are unable to estimate our potential exposure, if any, to these lawsuits at this time but do not believe that our ultimate liability, if any, resulting from this litigation will have a material effect on our consolidated financial condition, results of operations or cash flows. Non-Income Tax and Related Claims We have received assessments related to, or otherwise have exposure to, non-income tax items such as sales-and-use tax, value-added tax, ad valorem tax, custom duties, and other similar taxes in various taxing jurisdictions. We have determined that we have a probable loss for these taxes and the related penalties and interest and, accordingly, have recorded a $12.4 million and $16.1 million liability at September 30, 2020 and December 31, 2019, respectively. We intend to defend these matters vigorously; however, the ultimate outcome of these assessments and exposures could result in additional taxes, interest and penalties for which the fully assessed amounts would have a material adverse effect on our consolidated financial condition, results of operations or cash flows. Other Litigation We have been named in various other claims, lawsuits or threatened actions that are incidental to the ordinary course of our business, including a claim by one of our customers in Brazil, Petróleo Brasileiro S.A., or Petrobras, that it will seek to recover from its contractors, including us, any taxes, penalties, interest and fees that it must pay to the Brazilian tax authorities for our applicable portion of withholding taxes related to Petrobras’ charter agreements with its contractors. We intend to defend these matters vigorously; however, litigation is inherently unpredictable, and the ultimate outcome or effect of any claim, lawsuit or action cannot be predicted with certainty. As a result, there can be no assurance as to the ultimate outcome of any litigation matter. Any claims against us, whether meritorious or not, could cause us to incur significant costs and expenses and require significant amounts of management and operational time and resources. In the opinion of our management, no such pending or known threatened claims, actions or proceedings against us are expected to have a material adverse effect on our consolidated financial condition, results of operations or cash flows. Personal Injury Claims Under our insurance policies, our deductibles for marine liability insurance coverage with respect to personal injury claims not related to named windstorms in the U.S. Gulf of Mexico, which primarily result from Jones Act liability in the U.S. Gulf of Mexico, are $5.0 million for the first occurrence and vary in amounts ranging between $5.0 million and, if aggregate claims exceed certain thresholds, up to $100.0 million for each subsequent occurrence, depending on the nature, severity and frequency of claims that might arise during the policy year. Our deductibles for personal injury claims arising due to named windstorms in the U.S. Gulf of Mexico are $25.0 million for the first occurrence and vary in amounts ranging between $25.0 million and, if aggregate claims exceed certain thresholds, up to $100.0 million for each subsequent occurrence, depending on the nature, severity and frequency of claims that might arise during the policy year. The Jones Act is a federal law that permits seamen to seek compensation for certain injuries during the course of their employment on a vessel and governs the liability of vessel operators and marine employers for the work-related injury or death of an employee. We engage outside consultants to assist us in estimating our aggregate liability for personal injury claims based on our historical losses and utilizing various actuarial models. We allocate a portion of the aggregate liability to “Accrued liabilities” based on an estimate of claims expected to be paid within the next twelve months with the residual recorded as “Other liabilities.” At September 30, 2020 our estimated liability for personal injury claims was $14.8 million, of which $6.2 million and $8.6 million were recorded in “Accrued liabilities” and “Other liabilities,” respectively, in our unaudited Condensed Consolidated Balance Sheets. At December 31, 2019 our estimated liability for personal injury claims was $17.4 million, of which $6.4 million and $11.0 million were recorded in “Accrued liabilities” and “Other liabilities,” respectively, in our Consolidated Balance Sheets. The eventual settlement or adjudication of these claims could differ materially from our estimated amounts due to uncertainties such as: • the severity and volume of personal injuries claimed; • the unpredictability of legal jurisdictions where the claims will ultimately be litigated; • inconsistent court decisions; and • the risks and lack of predictability inherent in personal injury litigation. Letters of Credit and Other We were contingently liable as of September 30, 2020 in the aggregate amount of $31.2 million under certain customs, performance, tax and VAT bonds and letters of credit. Agreements relating to approximately $22.9 million of these tax and customs bonds can require collateral at any time, while the remaining agreements, aggregating $8.3 million, cannot require collateral except in events of default. During the first quarter of 2020, we issued a $6.0 million financial letter of credit as collateral in support of our outstanding surety bonds. Also, in April 2020, we made cash collateral deposits of $17.5 million with respect to other bonds and letters of credit, which are recorded in “Other assets” in our unaudited Condensed Consolidated Balance Sheets at September 30, 2020.

Restructuring and Separation Co

Restructuring and Separation Costs	9 Months Ended
	Sep. 30, 2020
Restructuring And Related Activities [Abstract]
Restructuring and Separation Costs	11 . Prepetition Restructuring Charges . We engaged financial and legal advisors to assist us in, among other things, analyzing various strategic alternatives to our capital structure, leading to the commencement of the Chapter 11 Cases in the Bankruptcy Court on April 26, 2020. Prior to the Petition Date, we incurred $7.4 million in legal and other professional advisor fees in connection with the consideration of restructuring alternatives, including the preparation for filing of the Chapter 11 Cases and related matters. We have reported these amounts in “Restructuring and separation costs” in our unaudited Condensed Consolidated Statements of Operations for the three and nine months ended September 30, 2020 Reduction in Force. In April 2020, we initiated a plan to reduce the number of employees in our world-wide organization in an effort to restructure our business operations and lower operating costs. During the three- and nine-month periods ended September 30, 2020, we incurred $0.4 million and $10.1 million, respectively, primarily for severance and related costs associated with a reduction in personnel in our corporate offices, warehouse facilities and certain of our international shorebase locations. We have reported these amounts in “Restructuring and separation costs” in our unaudited Condensed Consolidated Statements of Operations for the three and nine months ended September 30, 2020

Segments and Geographic Area An

Segments and Geographic Area Analysis	9 Months Ended
	Sep. 30, 2020
Segment Reporting [Abstract]
Segments and Geographic Area Analysis	12. Segments and Geographic Area Analysis Although we provide contract drilling services with different types of offshore drilling rigs and also provide such services in many geographic locations, we have aggregated these operations into one reportable segment based on the similarity of economic characteristics due to the nature of the revenue-earning process as it relates to the offshore drilling industry over the operating lives of our drilling rigs. Our drilling rigs are highly mobile and may be moved to other markets throughout the world in response to market conditions or customer needs. At September 30, 2020, our active drilling rigs were located offshore four countries in addition to the United States, including the Ocean Monarch The following tables provide information about disaggregated revenue by country (in thousands): Three Months Ended September 30, 2020 Total Contract Drilling Revenues Revenues Related to Reimbursable Expenses Total United States $ 57,523 $ 2,569 $ 60,092 Brazil 25,774 16 25,790 United Kingdom 25,178 2,198 27,376 Australia 16,279 2,570 18,849 Malaysia 4,591 1,559 6,150 Total $ 129,345 $ 8,912 $ 138,257 Nine Months Ended September 30, 2020 Total Contract Drilling Revenues Revenues Related to Reimbursable Expenses Total United States $ 244,578 $ 8,998 $ 253,576 Brazil 145,921 (24 ) 145,897 United Kingdom 86,949 7,075 94,024 Australia 49,663 10,682 60,345 Malaysia 8,737 3,051 11,788 Total $ 535,848 $ 29,782 $ 565,630 Three Months Ended September 30, 2019 Total Contract Drilling Revenues Revenues Related to Reimbursable Expenses Total United States $ 110,854 $ 1,479 $ 112,333 Brazil 49,326 10 49,336 United Kingdom 49,341 3,852 53,193 Australia 32,794 6,364 39,158 Total $ 242,315 $ 11,705 $ 254,020 Nine Months Ended September 30, 2019 Total Contract Drilling Revenues Revenues Related to Reimbursable Expenses Total United States $ 366,907 $ 5,029 $ 371,936 Brazil 131,748 17 131,765 United Kingdom 113,364 8,689 122,053 Australia 64,265 14,249 78,514 Total $ 676,284 $ 27,984 $ 704,268

Income Tax

Income Tax	9 Months Ended
	Sep. 30, 2020
Income Tax Disclosure [Abstract]
Income Tax	13. Income Tax On March 27, 2020, the President of the United States signed into law the Coronavirus Aid, Relief and Economic Security Act (or the CARES Act). The CARES Act allows a carryback of net operating losses generated in 2018, 2019 and 2020 to each of the five preceding taxable years. As a result of the carryback, we recognized a tax benefit of $9.7 million during the first quarter of 2020 due to a partial release of a previously recognized valuation allowance and tax rate change. The Chapter 11 Cases may have a material impact on our tax attributes, the full extent of which will not be known until a plan of reorganization is approved by the Bankruptcy Court. Cancellation of indebtedness income resulting from the Chapter 11 Cases may reduce our tax attributes including , but not limited to , net operating loss carryforwards , foreign tax credits and depreciable tax basis of our offshore drilling rigs . In addition, the utilization of any remaining tax attributes could potentially be limited in future periods should the plan of reorganization result in an ownership change under Internal Revenue Code Section 382 .

General Information (Policies)

General Information (Policies)	9 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
Use of Estimates in the Preparation of Financial Statements	Use of Estimates in the Preparation of Financial Statements The preparation of financial statements in conformity with 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 amount of revenues and expenses during the reporting period. Actual results could differ from those estimated.
Recently Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncements In June 2016, the Financial Accounting Standards Board, or FASB, issued Accounting Standards Update, or ASU, No. 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments to measure credit losses of certain financial assets, including trade receivables, utilizing a
Restricted Cash	Restricted Cash We maintain restricted cash bank accounts, which are subject to restrictions pursuant to a Bankruptcy Court order, to settle certain professional fees incurred upon or prior to our emergence from bankruptcy. See Note 2. We classify such restricted cash accounts in current assets if the restrictions are expected to expire or otherwise be resolved within one year or if such funds are considered to offset current liabilities. At September 30, 2020, our restricted cash was considered to be current and was recorded in “Restricted cash” in our unaudited Condensed Consolidated Balance Sheets. See Note 7.
Assets Held For Sale	Asset s Held for Sale We reported the aggregate Ocean America Ocean Rover

Chapter 11 Proceedings (Tables)

Chapter 11 Proceedings (Tables)	9 Months Ended
	Sep. 30, 2020
Reorganizations [Abstract]
Schedule of Reorganization Items Incurred	The following table provides information about reorganization items incurred during the three- and nine -month period s ended September 30, 2020 , subsequent to the Petition Date (in thousands): Three Months Ended Nine Months Ended September 30, 2020 Professional fees $ 18,634 $ 39,293 Write-off of debt issuance costs — 27,552 Net gain on settlement with certain unsecured vendors (9,971 ) (4,205 ) Total reorganization items, net $ 8,663 $ 62,640 Payments of $23.8 million related to professional fees and vendor cancellation costs have been presented as cash outflows from operating activities in our unaudited Condensed Consolidated Statements of Cash Flows for the nine months ended September 30, 2020. See Note 5.
Summary of Liabilities Subject to Compromise	Liabilities subject to compromise at September 30, 2020 consist of the following (in thousands): September 30, 2020 Debt subject to compromise: Borrowings under credit facility $ 436,000 3.45% Senior Notes due 2023 250,000 7.875% Senior Notes due 2025 500,000 5.70% Senior Notes due 2039 500,000 4.875% Senior Notes due 2043 750,000 Lease liabilities 140,580 Accrued interest 47,636 Accounts payable 19,912 Other accrued liabilities 5,306 Other liabilities 4,221 Total liabilities subject to compromise $ 2,653,655
Debtor-in-Possession Condensed Combined Balance Sheet	Unaudited condensed combined financial statements of the Debtors are set forth below. These financial statements exclude the financial statements of the non-Debtor subsidiaries. Transactions and balances of receivables and payables between the Debtors have been eliminated in consolidation. Amounts payable to the non-Debtor subsidiaries are reported in the unaudited condensed consolidated balance sheet of the Debtors DIAMOND OFFSHORE DRILLING, INC. AND CERTAIN SUBSIDIARIES PARTY TO THE BANKRUPTCY CASES (DEBTOR-IN-POSSESSION) CONDENSED COMBINED BALANCE SHEET (Unaudited) (In thousands) September 30, 2020 ASSETS Current assets: Cash and cash equivalents $ 407,222 Restricted cash 25,692 Accounts receivable 128,480 Less: allowance for credit losses (175 ) Accounts receivable, net 128,305 Prepaid expenses and other current assets 49,577 Assets held for sale 1,000 Total current assets 611,796 Drilling and other property and equipment, net of accumulated depreciation 4,232,543 Investments in non-debtor subsidiaries 2,458,447 Noncurrent deferred tax assets, net 31,356 Other assets 192,094 Total assets $ 7,526,236 LIABILITIES AND DEBTORS’ EQUITY Current liabilities: Accounts payable $ 28,993 Accrued liabilities 114,935 Taxes payable 26,062 Amounts payable to non-debtor subsidiaries 1,043,326 Total current liabilities 1,213,316 Note payable to non-debtor subsidiary 328,000 Other liabilities 45,157 Total liabilities not subject to compromise 1,586,473 Liabilities subject to compromise 2,653,655 Total debtors’ equity 3,286,108 Total liabilities and debtors’ equity $ 7,526,236
Debtor-in-Possession Condensed Combined Statement of Operations	DIAMOND OFFSHORE DRILLING, INC. AND CERTAIN SUBSIDIARIES PARTY TO THE BANKRUPTCY CASES (DEBTOR-IN-POSSESSION) CONDENSED COMBINED STATEMENT OF OPERATIONS (Unaudited) (In thousands) Nine Months Ended September 30, 2020 Revenues: Contract drilling $ 460,877 Revenues related to reimbursable expenses 29,806 Total revenues 490,683 Operating expenses: Contract drilling, excluding depreciation 415,613 Reimbursable expenses 28,020 Depreciation 242,480 General and administrative 41,497 Impairment of assets 774,028 Restructuring and separation costs 15,383 Gain on disposition of assets (3,989 ) Total operating expenses 1,513,032 Operating loss (1,022,349 ) Other income (expense): Interest income 502 Interest expense, net of amounts capitalized (50,155 ) Foreign currency transaction gain 591 Reorganization items, net (62,640 ) Other, net (499 ) Loss before income tax benefit (1,134,550 ) Income tax benefit 27,117 Net loss $ (1,107,433 )
Debtor-in-Possession Condensed Combined Statement of Cash Flows	DIAMOND OFFSHORE DRILLING, INC. AND CERTAIN SUBSIDIARIES PARTY TO THE BANKRUPTCY CASES (DEBTOR-IN-POSSESSION) CONDENSED COMBINED STATEMENT OF CASH FLOWS (Unaudited) (In thousands) Nine Months Ended September 30, 2020 Operating activities: Net loss $ (1,107,433 ) Adjustments to reconcile net loss to net cash provided by operating activities: Depreciation 242,480 Loss on impairment of assets 774,028 Reorganization items, net 22,107 Gain on disposition of assets (3,989 ) Deferred tax provision (16,846 ) Stock-based compensation expense 5,637 Contract liabilities, net 13,595 Contract assets, net 2,762 Deferred contract costs, net (8,085 ) Long-term employee remuneration programs (5,079 ) Noncurrent collateral deposits (18,262 ) Other assets, noncurrent (8,756 ) Other 3,013 Changes in operating assets and liabilities: Accounts receivable 68,908 Prepaid expenses and other current assets 15,022 Accounts payable and accrued liabilities 1,439 Taxes payable (15,462 ) Due to non-debtor subsidiaries 47,111 Net cash provided by operating activities 12,190 Investing activities: Capital expenditures (156,885 ) Capital contribution to non-debtor subsidiary (5,724 ) Proceeds from disposition of assets, net of disposal costs 5,235 Net cash used in investing activities (157,374 ) Financing activities: Borrowings under credit facility 436,000 Net cash provided by financing activities 436,000 Net change in cash, cash equivalents and restricted cash 290,816 Cash, cash equivalents and restricted cash, beginning of period 142,098 Cash, cash equivalents and restricted cash, end of period $ 432,914

Revenue from Contracts with C_2

Revenue from Contracts with Customers (Tables)	9 Months Ended
	Sep. 30, 2020
Revenue From Contract With Customer [Abstract]
Summary of Information about Receivables, Contract Assets and Contract Liabilities from Contracts with Customers	The following table provides information about receivables, contract assets and contract liabilities from our contracts with customers (in thousands): September 30, December 31, 2020 2019 Trade receivables $ 123,025 $ 199,572 Current contract assets (1) 3,266 6,314 Current contract liabilities (deferred revenue) (1) (45,389 ) (9,573 ) Noncurrent contract liabilities (deferred revenue) (1) (12,529 ) (38,531 ) (1)
Summary of Significant Changes in Contract Assets and Contract Liabilities Balances	Significant changes in the contract assets and the contract liabilities balances during the period are as follows (in thousands): Net Contract Balances Contract assets at January 1, 2020 $ 6,314 Contract liabilities at January 1, 2020 (48,104 ) Net balance at January 1, 2020 (41,790 ) Decrease due to amortization of revenue included in the beginning contract liability balance 31,016 Increase due to cash received, excluding amounts recognized as revenue during the period (40,857 ) Increase due to revenue recognized during the period but contingent on future performance 3,324 Decrease due to transfer to receivables during the period (5,646 ) Adjustments (699 ) Net balance at September 30, 2020 $ (54,652 ) Contract assets at September 30, 2020 $ 3,266 Contract liabilities at September 30, 2020 (57,918 )
Summary of Specified Types Revenue Expected to be Recognized in Future Related to Unsatisfied Performance Obligations	The following table reflects the specified types of revenue expected to be recognized in the future related to unsatisfied performance obligations as of September 30, 2020 (in thousands): For the Years Ending December 31, 2020 (1) 2021 2022 Total Mobilization and contract preparation revenue $ 3,024 $ 26,156 $ 2,600 $ 31,780 Capital modification revenue 4,393 13,963 1,466 19,822 Blended rate revenue and other 3,138 14,092 169 17,399 Total $ 10,555 $ 54,211 $ 4,235 $ 69,001 (1) three-month

Supplemental Financial Inform_2

Supplemental Financial Information (Tables)	9 Months Ended
	Sep. 30, 2020
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Accounts Receivable, Net of Allowance for Credit Losses	Accounts receivable, net of allowance for credit losses, consist of the following (in thousands): September 30, December 31, 2020 2019 Trade receivables $ 123,025 $ 199,572 Value added tax receivables 12,505 17,716 Federal income tax receivables 8,420 38,574 Related party receivables 75 166 Other 232 287 144,257 256,315 Allowance for credit losses (5,633 ) (5,459 ) Total $ 138,624 $ 250,856
Prepaid Expenses and Other Current Assets	Prepaid expenses and other current assets consist of the following (in thousands): September 30, December 31, 2020 2019 Deferred contract costs $ 18,770 $ 20,019 Prepaid taxes 15,174 12,475 Rig spare parts and supplies 13,465 18,250 Current contract assets 3,266 6,314 Prepaid insurance 3,247 2,892 Prepaid rig costs 2,459 2,990 Prepaid legal retainers 2,454 — Other 4,434 5,718 Total $ 63,269 $ 68,658
Accrued Liabilities	Accrued liabilities consist of the following (in thousands): September 30, December 31, 2020 2019 Deferred revenue $ 45,389 $ 9,573 Payroll and benefits 31,652 42,494 Shorebase and administrative costs 19,890 5,275 Rig operating expenses 17,355 37,969 Personal injury and other claims 6,210 7,074 Accrued capital project/upgrade costs 4,772 56,603 Current operating lease liability 620 20,030 Interest payable — 28,234 Other 1,628 3,528 Total $ 127,516 $ 210,780
Noncash Operating and Investing Activities	Noncash operating and investing activities excluded from the unaudited Condensed Consolidated Statements of Cash Flows and other supplemental cash flow information is as follows (in thousands): Nine Months Ended September 30, 2020 2019 Accrued but unpaid capital expenditures at period end $ 5,242 $ 39,169 Common stock withheld for payroll tax obligations (1) 395 1,381 Cash interest payments 19,843 76,219 Cash paid for reorganization items, net 23,818 — Cash income taxes paid, net of (refunds): Foreign 11,229 13,227 U.S. Federal (42,462 ) — State 36 (15 ) (1) Represents the cost of 131,698 shares and 129,456 shares of common stock withheld to satisfy payroll tax obligations incurred as a result of the vesting of restricted stock units during the nine-month periods ended September 30, 2020 and 2019, respectively. These costs are presented as a deduction from stockholders’ equity in “Treasury stock” in our unaudited Condensed Consolidated Balance Sheets at September 30, 2020 and 2019, respectively.

Loss Per Share (Tables)

Loss Per Share (Tables)	9 Months Ended
	Sep. 30, 2020
Earnings Per Share [Abstract]
Securities Excluded from Computation of Diluted Loss Per Share	The following table sets forth the stock-based awards excluded from the computations of diluted loss per share (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Employee and director: Stock appreciation rights 607 970 636 995 Restricted stock units — 1,261 — 1,188

Financial Instruments and Fai_2

Financial Instruments and Fair Value Disclosures (Tables)	9 Months Ended
	Sep. 30, 2020
Fair Value Disclosures [Abstract]
Assets Measured at Fair Value on Recurring and Nonrecurring Basis	Assets measured at fair value are summarized below (in thousands). September 30, 2020 Fair Value Measurements Using Level 1 Level 2 Level 3 Assets at Fair Value Total Losses for Nine Months Ended (1) Nonrecurring fair value measurements: Impaired assets (1) $ — $ — $ — $ — $ 774,028 (1) Represents the aggregate impairment charge recognized during the three months ended March 31, 2020 related to four semisubmersible rigs, which were written down to their estimated fair values. See Note 4. December 31, 2019 Fair Value Measurements Using Level 1 Level 2 Level 3 Assets at Fair Value Recurring fair value measurements: Money market funds $ 135,300 $ — $ — $ 135,300
Fair Values and Related Carrying Values of Our Debt Instruments	Fair values and related carrying values of our senior notes are shown below (in millions). September 30, 2020 December 31, 2019 Fair Value Carrying Value Fair Value Carrying Value 3.45% Senior Notes due 2023 $ 23.8 $ 250.0 $ 212.5 $ 249.6 7.875% Senior Notes due 2025 46.4 500.0 435.0 497.1 5.70% Senior Notes due 2039 44.4 500.0 292.5 497.3 4.875% Senior Notes due 2043 69.0 750.0 408.8 749.0

Drilling and Other Property a_2

Drilling and Other Property and Equipment (Tables)	9 Months Ended
	Sep. 30, 2020
Property Plant And Equipment [Abstract]
Summary of Cost and Accumulated Depreciation of Drilling and Other Property and Equipment	Cost and accumulated depreciation of drilling and other property and equipment are summarized as follows (in thousands): September 30, December 31, 2020 2019 Drilling rigs and equipment $ 7,026,827 $ 8,004,489 Land and buildings 64,076 64,267 Office equipment and other 92,216 92,289 Cost 7,183,119 8,161,045 Less: accumulated depreciation (2,940,013 ) (3,008,217 ) Drilling and other property and equipment, net $ 4,243,106 $ 5,152,828

Segments and Geographic Area _2

Segments and Geographic Area Analysis (Tables)	9 Months Ended
	Sep. 30, 2020
Segment Reporting [Abstract]
Summary of Information about Disaggregated Revenue by Country	The following tables provide information about disaggregated revenue by country (in thousands): Three Months Ended September 30, 2020 Total Contract Drilling Revenues Revenues Related to Reimbursable Expenses Total United States $ 57,523 $ 2,569 $ 60,092 Brazil 25,774 16 25,790 United Kingdom 25,178 2,198 27,376 Australia 16,279 2,570 18,849 Malaysia 4,591 1,559 6,150 Total $ 129,345 $ 8,912 $ 138,257 Nine Months Ended September 30, 2020 Total Contract Drilling Revenues Revenues Related to Reimbursable Expenses Total United States $ 244,578 $ 8,998 $ 253,576 Brazil 145,921 (24 ) 145,897 United Kingdom 86,949 7,075 94,024 Australia 49,663 10,682 60,345 Malaysia 8,737 3,051 11,788 Total $ 535,848 $ 29,782 $ 565,630 Three Months Ended September 30, 2019 Total Contract Drilling Revenues Revenues Related to Reimbursable Expenses Total United States $ 110,854 $ 1,479 $ 112,333 Brazil 49,326 10 49,336 United Kingdom 49,341 3,852 53,193 Australia 32,794 6,364 39,158 Total $ 242,315 $ 11,705 $ 254,020 Nine Months Ended September 30, 2019 Total Contract Drilling Revenues Revenues Related to Reimbursable Expenses Total United States $ 366,907 $ 5,029 $ 371,936 Brazil 131,748 17 131,765 United Kingdom 113,364 8,689 122,053 Australia 64,265 14,249 78,514 Total $ 676,284 $ 27,984 $ 704,268

General Information - Additiona

General Information - Additional Information (Detail) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Oct. 29, 2020	Dec. 31, 2019
Significant Accounting Policies [Line Items]
Change in Accounting Principle, Accounting Standards Update, Adopted	true
Change in Accounting Principle, Accounting Standards Update, Adoption Date	Jan. 1, 2020
Change in Accounting Principle, Accounting Standards Update, Immaterial Effect	true
Accounting Standards Update	us-gaap:AccountingStandardsUpdate201613Member
Assets held for sale	$ 2,000		$ 1,000
Subsequent Event [Member]
Significant Accounting Policies [Line Items]
Outstanding common stock owned by loews corporation		53.00%

Chapter 11 Proceedings - Additi

Chapter 11 Proceedings - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
	Sep. 30, 2020	Mar. 31, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Liabilities Subject To Compromise [Line Items]
Net loss	$ (98,606)		$ (95,128)	$ (1,105,366)	$ (282,444)
Pre-tax impairment charge		$ 774,000		774,028
Contractual interest expense not recorded	37,834			62,470
Credit Facility [Member]
Liabilities Subject To Compromise [Line Items]
Contractual interest expense not recorded	9,500			13,900
Senior Notes [Member]
Liabilities Subject To Compromise [Line Items]
Contractual interest expense not recorded	$ 28,300			$ 48,500

Chapter 11 Proceedings - Schedu

Chapter 11 Proceedings - Schedule of Reorganization Items Incurred (Detail) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2020
Reorganizations [Abstract]
Professional fees	$ 18,634	$ 39,293
Write-off of debt issuance costs		27,552
Net gain on settlement with certain unsecured vendors	(9,971)	(4,205)
Total reorganization items, net	$ 8,663	$ 62,640

Chapter 11 Proceedings - Sche_2

Chapter 11 Proceedings - Schedule of Reorganization Items Incurred (Detail) (Parenthetical) $ in Thousands	9 Months Ended
	Sep. 30, 2020USD ($)
Reorganizations [Abstract]
Payment for professional fees and vendor cancellation costs	$ 23,818

Chapter 11 Proceedings - Summar

Chapter 11 Proceedings - Summary of Liabilities Subject to Compromise (Detail) $ in Thousands	Sep. 30, 2020USD ($)
Debt subject to compromise:
Borrowings under credit facility	$ 436,000
Lease liabilities	140,580
Accrued interest	47,636
Accounts payable	19,912
Other accrued liabilities	5,306
Other liabilities	4,221
Total liabilities subject to compromise	2,653,655
3.45% Senior Notes due 2023 [Member]
Debt subject to compromise:
Senior Notes	250,000
7.875% Senior Notes due 2025 [Member]
Debt subject to compromise:
Senior Notes	500,000
5.70% Senior Notes due 2039 [Member]
Debt subject to compromise:
Senior Notes	500,000
4.875% Senior Notes due 2043 [Member]
Debt subject to compromise:
Senior Notes	$ 750,000

Chapter 11 Proceedings - Summ_2

Chapter 11 Proceedings - Summary of Liabilities Subject to Compromise (Parenthetical) (Detail)	Sep. 30, 2020	Dec. 31, 2019
3.45% Senior Notes due 2023 [Member]
Liabilities Subject To Compromise [Line Items]
Interest rate of senior notes	3.45%	3.45%
7.875% Senior Notes due 2025 [Member]
Liabilities Subject To Compromise [Line Items]
Interest rate of senior notes	7.875%	7.875%
5.70% Senior Notes due 2039 [Member]
Liabilities Subject To Compromise [Line Items]
Interest rate of senior notes	5.70%	5.70%
4.875% Senior Notes due 2043 [Member]
Liabilities Subject To Compromise [Line Items]
Interest rate of senior notes	4.875%	4.875%

Chapter 11 Proceedings - Debtor

Chapter 11 Proceedings - Debtor-in-Possession Condensed Combined Balance Sheet (Detail) - USD ($) $ in Thousands	Sep. 30, 2020	Jun. 30, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 422,701		$ 156,281
Accounts receivable	144,257		256,315
Less: allowance for credit losses	(5,633)		(5,459)
Accounts receivable, net	138,624		250,856
Prepaid expenses and other current assets	63,269		68,658
Assets held for sale	2,000		1,000
Total current assets	652,286		476,795
Drilling and other property and equipment, net of accumulated depreciation	4,243,106		5,152,828
Other assets	206,481		204,421
Total assets	5,101,873		5,834,044
Current liabilities:
Accounts payable	31,980		68,586
Accrued liabilities	127,516		210,780
Taxes payable	28,359		23,228
Total current liabilities	187,855		302,594
Long-term debt			1,975,741
Deferred tax liability	30,614		47,528
Other liabilities	97,645		275,971
Commitments and contingencies (Note 10)
Total liabilities not subject to compromise	316,114		2,601,834
Liabilities subject to compromise	2,653,655
Stockholders’ equity:
Preferred stock (par value $0.01, 25,000,000 shares authorized, none issued and outstanding)
Common stock (par value $0.01, 500,000,000 shares authorized; 145,263,865 shares issued and 138,054,311 shares outstanding at September 30, 2020; 144,781,766 shares issued and 137,703,910 shares outstanding at December 31, 2019)	1,453		1,448
Additional paid-in capital	2,029,979		2,024,347
Retained earnings	306,835		1,412,201
Accumulated other comprehensive loss			(18)
Treasury stock, at cost (7,209,554 and 7,077,856 shares of common stock at September 30, 2020 and December 31, 2019, respectively)	(206,163)		(205,768)
Total stockholders’ equity	2,132,104	$ 2,230,689	3,232,210	$ 3,305,324	$ 3,398,897	$ 3,584,653
Total liabilities and stockholders’ equity	5,101,873		$ 5,834,044
Debtor [Member]
Current assets:
Cash and cash equivalents	407,222
Restricted cash	25,692
Accounts receivable	128,480
Less: allowance for credit losses	(175)
Accounts receivable, net	128,305
Prepaid expenses and other current assets	49,577
Assets held for sale	1,000
Total current assets	611,796
Drilling and other property and equipment, net of accumulated depreciation	4,232,543
Investments in non-debtor subsidiaries	2,458,447
Noncurrent deferred tax assets, net	31,356
Other assets	192,094
Total assets	7,526,236
Current liabilities:
Accounts payable	28,993
Accrued liabilities	114,935
Taxes payable	26,062
Amounts payable to non-debtor subsidiaries	1,043,326
Total current liabilities	1,213,316
Note payable to non-debtor subsidiary	328,000
Other liabilities	45,157
Commitments and contingencies (Note 10)
Total liabilities not subject to compromise	1,586,473
Liabilities subject to compromise	2,653,655
Stockholders’ equity:
Total stockholders’ equity	3,286,108
Total liabilities and stockholders’ equity	$ 7,526,236

Chapter 11 Proceedings - Debt_2

Chapter 11 Proceedings - Debtor-in-Possession Condensed Combined Statement of Operations (Detail) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended			9 Months Ended
	Sep. 30, 2020	Mar. 31, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Revenues:
Total revenues	$ 138,257		$ 254,020	$ 565,630	$ 704,268
Operating expenses:
Depreciation	75,330		88,693	243,208	263,844
General and administrative	12,781		18,830	44,827	51,436
Impairment of assets		$ 774,000		774,028
Restructuring and separation costs	344			17,463
Gain on disposition of assets	(479)		6,340	(4,132)	1,191
Total operating expenses	227,475		326,854	1,584,767	937,729
Operating loss	(89,218)		(72,834)	(1,019,137)	(233,461)
Other income (expense):
Interest income	22		1,317	520	5,664
Interest expense, net of amounts capitalized	(98)		(31,098)	(42,753)	(92,182)
Foreign currency transaction gain	(661)		(77)	(1,458)	(1,883)
Reorganization items, net	(8,663)			(62,640)
Other, net	107		82	349	520
Loss before income tax (expense) benefit	(98,511)		(102,610)	(1,125,119)	(321,342)
Income tax benefit	(95)		7,482	19,753	38,898
Net loss	$ (98,606)		$ (95,128)	$ (1,105,366)	$ (282,444)
Weighted-average shares outstanding:
Shares of common stock	138,054		137,694	137,976	137,636
Total weighted-average shares outstanding	138,054		137,694	137,976	137,636
Contract Drilling [Member]
Revenues:
Total revenues	$ 129,345		$ 242,315	$ 535,848	$ 676,284
Operating expenses:
Contract drilling, excluding depreciation	130,921		201,568	481,376	593,779
Reimbursable Expenses [Member]
Revenues:
Total revenues	8,912		11,705	29,782	27,984
Operating expenses:
Contract drilling, excluding depreciation	$ 8,578		$ 11,423	27,997	$ 27,479
Debtor [Member]
Revenues:
Total revenues				490,683
Operating expenses:
Depreciation				242,480
General and administrative				41,497
Impairment of assets				774,028
Restructuring and separation costs				15,383
Gain on disposition of assets				(3,989)
Total operating expenses				1,513,032
Operating loss				(1,022,349)
Other income (expense):
Interest income				502
Interest expense, net of amounts capitalized				(50,155)
Foreign currency transaction gain				591
Reorganization items, net				(62,640)
Other, net				(499)
Loss before income tax (expense) benefit				(1,134,550)
Income tax benefit				27,117
Net loss				(1,107,433)
Debtor [Member] | Contract Drilling [Member]
Revenues:
Total revenues				460,877
Operating expenses:
Contract drilling, excluding depreciation				415,613
Debtor [Member] | Reimbursable Expenses [Member]
Revenues:
Total revenues				29,806
Operating expenses:
Contract drilling, excluding depreciation				$ 28,020

Chapter 11 Proceedings - Debt_3

Chapter 11 Proceedings - Debtor-in-Possession Condensed Combined Statement of Cash Flows (Detail) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
	Sep. 30, 2020	Mar. 31, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Operating activities:
Net loss				$ (1,105,366)	$ (282,444)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation	$ 75,330		$ 88,693	243,208	263,844
Loss on impairment of assets		$ 774,000		774,028
Reorganization items, net				22,107
Gain on disposition of assets	(479)		6,340	(4,132)	1,191
Deferred tax provision				(16,865)	(48,323)
Stock-based compensation expense				5,637	4,533
Contract liabilities, net				9,814	15,060
Contract assets, net				3,048	302
Deferred contract costs, net				(2,578)	49,866
Long-term employee remuneration programs				(4,803)	1,609
Noncurrent collateral deposits				(18,262)
Other assets, noncurrent				(8,513)	180
Other				2,964	799
Changes in operating assets and liabilities:
Accounts receivable				107,148	(27,177)
Prepaid expenses and other current assets				3,957	(128)
Accounts payable and accrued liabilities				(10,440)	7,115
Taxes payable				9,728	(548)
Net cash provided by (used in) operating activities				7,440	(14,211)
Investing activities:
Capital expenditures				(162,621)	(249,819)
Proceeds from disposition of assets, net of disposal costs				5,378	16,097
Purchase of marketable securities					(1,996,996)
Net cash (used in) provided by investing activities				(151,328)	69,282
Financing activities:
Borrowings under credit facility				436,000
Other					(12)
Net cash provided by (used in) financing activities				436,000	(12)
Net change in cash, cash equivalents and restricted cash				292,112	55,059
Cash, cash equivalents and restricted cash, beginning of period		156,281		156,281	154,073
Cash, cash equivalents and restricted cash, end of period	448,393		$ 209,132	448,393	$ 209,132
Debtor [Member]
Operating activities:
Net loss				(1,107,433)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation				242,480
Loss on impairment of assets				774,028
Reorganization items, net				22,107
Gain on disposition of assets				(3,989)
Deferred tax provision				(16,846)
Stock-based compensation expense				5,637
Contract liabilities, net				13,595
Contract assets, net				2,762
Deferred contract costs, net				(8,085)
Long-term employee remuneration programs				(5,079)
Noncurrent collateral deposits				(18,262)
Other assets, noncurrent				(8,756)
Other				3,013
Changes in operating assets and liabilities:
Accounts receivable				68,908
Prepaid expenses and other current assets				15,022
Accounts payable and accrued liabilities				1,439
Taxes payable				(15,462)
Due to non-debtor subsidiaries				47,111
Net cash provided by (used in) operating activities				12,190
Investing activities:
Capital expenditures				(156,885)
Capital contribution to non-debtor subsidiary				(5,724)
Proceeds from disposition of assets, net of disposal costs				5,235
Net cash (used in) provided by investing activities				(157,374)
Financing activities:
Borrowings under credit facility				436,000
Net cash provided by (used in) financing activities				436,000
Net change in cash, cash equivalents and restricted cash				290,816
Cash, cash equivalents and restricted cash, beginning of period		$ 142,098		142,098
Cash, cash equivalents and restricted cash, end of period	$ 432,914			$ 432,914

Revenue from Contracts with C_3

Revenue from Contracts with Customers - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2020
Minimum [Member]
Revenue From Contract With Customers [Line Items]
Initial term of contract	2 months
Maximum [Member]
Revenue From Contract With Customers [Line Items]
Initial term of contract	60 months

Revenue from Contracts with C_4

Revenue from Contracts with Customers - Summary of Information about Receivables, Contract Assets and Contract Liabilities from Contracts with Customers (Detail) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Revenue From Contract With Customer [Abstract]
Trade receivables	$ 123,025	$ 199,572
Current contract assets	3,266	6,314
Current contract liabilities (deferred revenue)	(45,389)	(9,573)
Noncurrent contract liabilities (deferred revenue)	$ (12,529)	$ (38,531)

Revenue from Contracts with C_5

Revenue from Contracts with Customers - Summary of Significant Changes in Contract Assets and Contract Liabilities Balances (Detail) $ in Thousands	9 Months Ended
	Sep. 30, 2020USD ($)
Revenue From Contract With Customer [Abstract]
Contract assets at January 1, 2020	$ 6,314
Contract liabilities at January 1, 2020	(48,104)
Net balance at January 1, 2020	(41,790)
Decrease due to amortization of revenue included in the beginning contract liability balance	31,016
Increase due to cash received, excluding amounts recognized as revenue during the period	(40,857)
Increase due to revenue recognized during the period but contingent on future performance	3,324
Decrease due to transfer to receivables during the period	(5,646)
Adjustments	(699)
Net balance at September 30, 2020	(54,652)
Contract assets at September 30, 2020	3,266
Contract liabilities at September 30, 2020	$ (57,918)

Revenue from Contracts with C_6

Revenue from Contracts with Customers - Summary of Specified Types of Revenue Expected to be Recognized in Future Related to Unsatisfied Performance Obligations (Detail) $ in Thousands	Sep. 30, 2020USD ($)
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Revenue remaining performance obligation	$ 69,001
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2020-10-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	3 months
Revenue remaining performance obligation	$ 10,555
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2021-01-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Revenue remaining performance obligation	$ 54,211
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2022-01-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Revenue remaining performance obligation	$ 4,235
Mobilization and Contract Preparation Revenue [Member]
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Revenue remaining performance obligation	31,780
Mobilization and Contract Preparation Revenue [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2020-10-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Revenue remaining performance obligation	3,024
Mobilization and Contract Preparation Revenue [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2021-01-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Revenue remaining performance obligation	26,156
Mobilization and Contract Preparation Revenue [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2022-01-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Revenue remaining performance obligation	2,600
Capital Modification Revenue [Member]
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Revenue remaining performance obligation	19,822
Capital Modification Revenue [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2020-10-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Revenue remaining performance obligation	4,393
Capital Modification Revenue [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2021-01-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Revenue remaining performance obligation	13,963
Capital Modification Revenue [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2022-01-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Revenue remaining performance obligation	1,466
Blended Rate Revenue and Other [Member]
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Revenue remaining performance obligation	17,399
Blended Rate Revenue and Other [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2020-10-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Revenue remaining performance obligation	3,138
Blended Rate Revenue and Other [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2021-01-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Revenue remaining performance obligation	14,092
Blended Rate Revenue and Other [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2022-01-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Revenue remaining performance obligation	$ 169

Revenue from Contracts with C_7

Revenue from Contracts with Customers - Summary of Specified Types of Revenue Expected to be Recognized in Future Related to Unsatisfied Performance Obligations (Detail 1) $ in Thousands	Sep. 30, 2020USD ($)
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Revenue remaining performance obligation	$ 69,001
Mobilization and Contract Preparation Revenue [Member]
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Revenue remaining performance obligation	31,780
Capital Modification Revenue [Member]
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Revenue remaining performance obligation	19,822
Blended Rate Revenue and Other [Member]
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Revenue remaining performance obligation	$ 17,399

Revenue from Contracts with C_8

Revenue from Contracts with Customers - Summary of Specified Types of Revenue Expected to be Recognized in Future Related to Unsatisfied Performance Obligations (Detail) (Parenthetical)	Sep. 30, 2020
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2020-10-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	3 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2021-01-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2022-01-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year

Impairment of Assets - Addition

Impairment of Assets - Additional Information (Detail)	3 Months Ended		9 Months Ended
	Sep. 30, 2020USD ($)Rig	Mar. 31, 2020USD ($)Rig	Sep. 30, 2020USD ($)
Schedule Of Asset Impairment Charges [Line Items]
Impairment of assets | $		$ 774,000,000	$ 774,028,000
2020 Impaired Rigs [Member]
Schedule Of Asset Impairment Charges [Line Items]
Number of rigs evaluated for impairment | Rig	3	5
Impairment of assets | $	$ 0		$ 774,000,000
Number of rigs impaired during period | Rig		4

Supplemental Financial Inform_3

Supplemental Financial Information - Accounts Receivable, Net of Allowance for Credit Losses (Detail) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Receivables [Abstract]
Trade receivables	$ 123,025	$ 199,572
Value added tax receivables	12,505	17,716
Federal income tax receivables	8,420	38,574
Related party receivables	75	166
Other	232	287
Receivables Gross Current, Total	144,257	256,315
Allowance for credit losses	(5,633)	(5,459)
Accounts receivable, net	$ 138,624	$ 250,856

Supplemental Financial Inform_4

Supplemental Financial Information - Prepaid Expenses and Other Current Assets (Detail) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Abstract]
Deferred contract costs	$ 18,770	$ 20,019
Prepaid taxes	15,174	12,475
Rig spare parts and supplies	13,465	18,250
Current contract assets	3,266	6,314
Prepaid insurance	3,247	2,892
Prepaid rig costs	2,459	2,990
Prepaid legal retainers	2,454
Other	4,434	5,718
Total	$ 63,269	$ 68,658

Supplemental Financial Inform_5

Supplemental Financial Information - Accrued Liabilities (Detail) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Payables And Accruals [Abstract]
Deferred revenue	$ 45,389	$ 9,573
Payroll and benefits	31,652	42,494
Shorebase and administrative costs	19,890	5,275
Rig operating expenses	17,355	37,969
Personal injury and other claims	6,210	7,074
Accrued capital project/upgrade costs	4,772	56,603
Current operating lease liability	620	20,030
Interest payable		28,234
Other	1,628	3,528
Total	$ 127,516	$ 210,780

Supplemental Financial Inform_6

Supplemental Financial Information - Noncash Operating and Investing Activities (Detail) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Condensed Financial Statements, Captions [Line Items]
Accrued but unpaid capital expenditures at period end	$ 5,242	$ 39,169
Common stock withheld for payroll tax obligations	395	1,381
Cash interest payments	19,843	76,219
Cash paid for reorganization items, net	23,818
Foreign [Member]
Cash income taxes paid, net of (refunds):
Cash income taxes paid, net of refunds	11,229	13,227
U.S. Federal [Member]
Cash income taxes paid, net of (refunds):
Cash income taxes paid, net of refunds	(42,462)
State [Member]
Cash income taxes paid, net of (refunds):
Cash income taxes paid, net of refunds	$ 36	$ (15)

Supplemental Financial Inform_7

Supplemental Financial Information - Noncash Operating and Investing Activities (Parenthetical) (Detail) - shares	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Restricted Stock [Member]
Condensed Financial Statements, Captions [Line Items]
Number of shares of common stock withheld	131,698	129,456

Supplemental Financial Inform_8

Supplemental Financial Information - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2020	Jun. 30, 2020
Condensed Financial Statements, Captions [Line Items]
Proceeds from bonds		$ 5,915
Trinidad Bonds [Member]
Condensed Financial Statements, Captions [Line Items]
Proceeds from bonds	$ 5,900
Bonds received			$ 5,700

Loss Per Share - Securities Exc

Loss Per Share - Securities Excluded from Computations of Loss Per Share (Detail) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Restricted Stock Units [Member]
Employee and director:
Securities excluded from computation of diluted loss per share		1,261		1,188
Stock Appreciation Rights [Member]
Employee and director:
Securities excluded from computation of diluted loss per share	607	970	636	995

Financial Instruments and Fai_3

Financial Instruments and Fair Value Disclosures - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Mar. 31, 2020	Sep. 30, 2020	Dec. 31, 2019
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Letters of credit to guarantee	$ 12,800		$ 12,800
Trade receivables past due	6,400		6,400
Trade receivables reserved for previous years	5,500		5,500
Trade receivables, less than 90 Days past due	900		900
Allowance for credit losses	5,633		5,633	$ 5,459
Loss on impairment of assets		$ 774,000	$ 774,028
Measurement period for determining fair value of debt instruments			10 days
Fair Value Recurring [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Loss on impairment of assets	$ 0
ASU 2016-13
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Estimate of credit losses			$ 200

Financial Instruments and Fai_4

Financial Instruments and Fair Value Disclosures - Assets Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Mar. 31, 2020	Sep. 30, 2020	Dec. 31, 2019
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Impairment of assets		$ 774,000	$ 774,028
Nonrecurring Fair Value Measurements [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Impairment of assets			$ 774,028
Nonrecurring Fair Value Measurements [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Impairment of assets	$ 0
Nonrecurring Fair Value Measurements [Member] | Money Market Funds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total short-term investments				$ 135,300
Level 1 [Member] | Nonrecurring Fair Value Measurements [Member] | Money Market Funds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total short-term investments				$ 135,300

Financial Instruments and Fai_5

Financial Instruments and Fair Value Disclosures - Assets Measured at Fair Value on Recurring Basis (Parenthetical) (Detail)	3 Months Ended
	Mar. 31, 2020Rig
Fair Value Disclosures [Abstract]
Number of semisubmersible rigs	4

Financial Instruments and Fai_6

Financial Instruments and Fair Value Disclosures - Fair Value and Related Carrying Values of Our Debt Instruments (Detail) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
3.45% Senior Notes due 2023 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value	$ 23.8	$ 212.5
Carrying Value	250	249.6
7.875% Senior Notes due 2025 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value	46.4	435
Carrying Value	500	497.1
5.70% Senior Notes due 2039 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value	44.4	292.5
Carrying Value	500	497.3
4.875% Senior Notes due 2043 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value	69	408.8
Carrying Value	$ 750	$ 749

Financial Instruments and Fai_7

Financial Instruments and Fair Value Disclosures - Fair Value and Related Carrying Values of Our Debt Instruments (Parenthetical) (Detail)	Sep. 30, 2020	Dec. 31, 2019
3.45% Senior Notes due 2023 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest rate of senior notes	3.45%	3.45%
7.875% Senior Notes due 2025 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest rate of senior notes	7.875%	7.875%
5.70% Senior Notes due 2039 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest rate of senior notes	5.70%	5.70%
4.875% Senior Notes due 2043 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest rate of senior notes	4.875%	4.875%

Drilling and Other Property a_3

Drilling and Other Property and Equipment - Summary of Cost and Accumulated Depreciation of Drilling and Other Property and Equipment (Detail) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Property and equipment	$ 7,183,119	$ 8,161,045
Less: accumulated depreciation	(2,940,013)	(3,008,217)
Drilling and other property and equipment, net	4,243,106	5,152,828
Drilling Rigs and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment	7,026,827	8,004,489
Land and Buildings [Member]
Property, Plant and Equipment [Line Items]
Property and equipment	64,076	64,267
Office Equipment and Other [Member]
Property, Plant and Equipment [Line Items]
Property and equipment	$ 92,216	$ 92,289

Drilling and Other Property a_4

Drilling and Other Property and Equipment - Additional Information (Detail)	3 Months Ended		9 Months Ended
	Sep. 30, 2020USD ($)	Mar. 31, 2020USD ($)Rig	Sep. 30, 2020USD ($)
Property, Plant and Equipment [Line Items]
Impairment charge of assets		$ 774,000,000	$ 774,028,000
2020 Impaired Rigs [Member]
Property, Plant and Equipment [Line Items]
Impairment charge of assets	$ 0		$ 774,000,000
Number of rigs impaired during period | Rig		4

Credit Agreements - Additional

Credit Agreements - Additional Information (Detail) - USD ($)	Mar. 17, 2020	Mar. 31, 2020	Sep. 30, 2020	Apr. 28, 2020	Jan. 31, 2020
Debt Instrument [Line Items]
Line of credit facility, amount borrowed			$ 436,000,000
Line of credit issued			$ 436,000,000
Amended Credit Agreement [Member] | Credit facility Mature on October 22, 2020 [Member]
Debt Instrument [Line Items]
Termination of credit agreement	$ 225,000,000
Credit facility, scheduled maturity date	Oct. 22, 2020
Write-off of deferred arrangement fees	$ 500,000
950 Million Credit Agreement [Member]
Debt Instrument [Line Items]
Line of credit facility, amount borrowed		$ 436,000,000
Amount available for general purposes		$ 950,000,000		$ 442,000,000
Credit facility, term		5 years
Weighted average interest rate on borrowings			6.64%
950 Million Credit Agreement [Member] | Financial Letter of Credit [Member]
Debt Instrument [Line Items]
Line of credit issued					$ 6,000,000

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) - USD ($)	9 Months Ended
	Sep. 30, 2020	Apr. 30, 2020	Mar. 31, 2020	Dec. 31, 2019
Contingencies And Commitments [Line Items]
Estimated sales tax and related penalties and interest	$ 12,400,000			$ 16,100,000
Deductible for marine liability coverage including personal injury claims, per first occurrence	5,000,000
Range of deductible for liability coverage for personal injury claims, lower limit	5,000,000
Range of deductible for liability coverage for personal injury claims, upper limit	100,000,000
Total Contingent Liabilities Under Letters of Credit and Bonds [Member]
Contingencies And Commitments [Line Items]
Contingent liability under letters of credit and other bonds	31,200,000
Potentially Collateralized Contingent Liability Under Letters Of Credit and Bonds [Member]
Contingencies And Commitments [Line Items]
Contingent liability under letters of credit and other bonds	22,900,000
Uncollateralized Contingent Liability Under Letters of Credit and Bonds [Member]
Contingencies And Commitments [Line Items]
Contingent liability under letters of credit and other bonds	8,300,000
Collateralized Contingent Liability Under Financial Letters of Credit and Surety Bond [Member]
Contingencies And Commitments [Line Items]
Contingent liability under letters of credit and other bonds			$ 6,000,000
Cash Collateralized Contingent Liability Under Letters of Credit and Bonds [Member]
Contingencies And Commitments [Line Items]
Contingent liability under letters of credit and other bonds		$ 17,500,000
Windstorms in U.S. Gulf of Mexico [Member]
Contingencies And Commitments [Line Items]
Deductible for marine liability coverage including personal injury claims, per first occurrence	25,000,000
Range of deductible for liability coverage for personal injury claims, lower limit	25,000,000
Range of deductible for liability coverage for personal injury claims, upper limit	100,000,000
Personal Injury Claims [Member]
Contingencies And Commitments [Line Items]
Personal injury claims recorded	14,800,000			17,400,000
Personal Injury Claims [Member] | Accrued Liabilities [Member]
Contingencies And Commitments [Line Items]
Personal injury claims recorded	6,200,000			6,400,000
Personal Injury Claims [Member] | Other Liabilities [Member]
Contingencies And Commitments [Line Items]
Personal injury claims recorded	$ 8,600,000			$ 11,000,000

Restructuring and Separation _2

Restructuring and Separation Costs - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2020
Restructuring Cost And Reserve [Line Items]
Commencement of chapter 11 cases in bankruptcy court , date of petition filed		Apr. 26, 2020
Restructuring and Separation Costs [Member]
Restructuring Cost And Reserve [Line Items]
Legal and other professional advisor fees incurred prior to petition date		$ 7.4
Severance and related costs	$ 0.4	$ 10.1

Segments and Geographic Area _3

Segments and Geographic Area Analysis - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2020SegmentCountry
Segment Reporting [Abstract]
Number of reportable segments | Segment	1
Number of countries with rigs | Country	4

Segments and Geographic Area _4

Segments and Geographic Area Analysis - Summary of Information about Disaggregated Revenue by Country (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Segment Reporting Information [Line Items]
Total revenues	$ 138,257	$ 254,020	$ 565,630	$ 704,268
Contract Drilling [Member]
Segment Reporting Information [Line Items]
Total revenues	129,345	242,315	535,848	676,284
Reimbursable Expenses [Member]
Segment Reporting Information [Line Items]
Total revenues	8,912	11,705	29,782	27,984
United States [Member]
Segment Reporting Information [Line Items]
Total revenues	60,092	112,333	253,576	371,936
United States [Member] | Contract Drilling [Member]
Segment Reporting Information [Line Items]
Total revenues	57,523	110,854	244,578	366,907
United States [Member] | Reimbursable Expenses [Member]
Segment Reporting Information [Line Items]
Total revenues	2,569	1,479	8,998	5,029
Brazil [Member]
Segment Reporting Information [Line Items]
Total revenues	25,790	49,336	145,897	131,765
Brazil [Member] | Contract Drilling [Member]
Segment Reporting Information [Line Items]
Total revenues	25,774	49,326	145,921	131,748
Brazil [Member] | Reimbursable Expenses [Member]
Segment Reporting Information [Line Items]
Total revenues	16	10	(24)	17
United Kingdom [Member]
Segment Reporting Information [Line Items]
Total revenues	27,376	53,193	94,024	122,053
United Kingdom [Member] | Contract Drilling [Member]
Segment Reporting Information [Line Items]
Total revenues	25,178	49,341	86,949	113,364
United Kingdom [Member] | Reimbursable Expenses [Member]
Segment Reporting Information [Line Items]
Total revenues	2,198	3,852	7,075	8,689
Australia [Member]
Segment Reporting Information [Line Items]
Total revenues	18,849	39,158	60,345	78,514
Australia [Member] | Contract Drilling [Member]
Segment Reporting Information [Line Items]
Total revenues	16,279	32,794	49,663	64,265
Australia [Member] | Reimbursable Expenses [Member]
Segment Reporting Information [Line Items]
Total revenues	2,570	$ 6,364	10,682	$ 14,249
Malaysia [Member]
Segment Reporting Information [Line Items]
Total revenues	6,150		11,788
Malaysia [Member] | Contract Drilling [Member]
Segment Reporting Information [Line Items]
Total revenues	4,591		8,737
Malaysia [Member] | Reimbursable Expenses [Member]
Segment Reporting Information [Line Items]
Total revenues	$ 1,559		$ 3,051

Income Tax - Additional Informa

Income Tax - Additional Information (Detail) $ in Millions	3 Months Ended
	Mar. 31, 2020USD ($)
Income Tax Disclosure [Abstract]
Income tax benefit from carryback of net operating losses	$ (9.7)