Company: RIG
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0001451505-25-000123
Chunk: 1

Company: Transocean Ltd.
Filing Date: 2025-10-30
Form: 10-Q
Item: Item 1
Chunk 1
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Item I.Financial Statements

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TRANSOCEAN LTD. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(in millions, except per share data)

(Unaudited)

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​​​​​​​​​​​​​​​​Three months ended ​Nine months ended ​​​September 30, ​September 30, ​​   2025   2024   2025   2024 ​​​​​​​​​​​​​​Contract drilling revenues​$ 1,028​$ 948​$ 2,922​$ 2,572​​​​​​​​​​​​​​​Costs and expenses​​​​​​​​​​​​​Operating and maintenance​​ 584​​ 563​​ 1,801​​ 1,620​Depreciation and amortization​​ 161​​ 190​​ 512​​ 559​General and administrative​​ 46​​ 47​​ 145​​ 158​​​​ 791​​ 800​​ 2,458​​ 2,337​​​​​​​​​​​​​​​Loss on impairment of assets​​ (1,913)​​ (629)​​ (3,049)​​ (772)​Gain (loss) on disposal of assets, net​​ (1)​​ (4)​​ 8​​ (10)​Operating loss​​ (1,677)​​ (485)​​ (2,577)​​ (547)​​​​​​​​​​​​​​​Other income (expense), net​​​​​​​​​​​​​Interest income​​ 12​​ 11​​ 30​​ 40​Interest expense, net of amounts capitalized​​ (154)​​ (80)​​ (382)​​ (271)​Gain on retirement of debt​​ —​​ 21​​ —​​ 161​Other, net​​ (78)​​ 8​​ (101)​​ 32​​​​ (220)​​ (40)​​ (453)​​ (38)​​​​​​​​​​​​​​​Loss before income tax expense (benefit)​​ (1,897)​​ (525)​​ (3,030)​​ (585)​Income tax expense (benefit)​​ 26​​ (31)​​ (90)​​ (66)​​​​​​​​​​​​​​​Net loss​​ (1,923)​​ (494)​​ (2,940)​​ (519)​Net income attributable to noncontrolling interest​​