Transocean Ltd (RIG) financial statements: income statement, balance sheet and cash flow
Transocean Ltd's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Transocean Ltd reported net income of ($2.9B) (-469.3% year on year).
Income statement
Transocean Ltd income statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Contract drilling revenues
$4.0B
$3.5B
$2.8B
$2.6B
Operating and maintenance
$2.4B
$2.2B
$2.0B
$1.7B
Depreciation and amortization
$659.0M
$739.0M
$744.0M
$735.0M
General and administrative
$195.0M
$214.0M
$187.0M
$182.0M
Total costs and expenses
$3.3B
$3.2B
$2.9B
$2.6B
Loss on impairment of assets
($3.0B)
($772.0M)
($57.0M)
—
Gain (loss) on disposal of assets, net
$7.0M
($17.0M)
($183.0M)
($10.0M)
Operating loss
($2.3B)
($417.0M)
($325.0M)
($31.0M)
Interest income
$40.0M
$50.0M
$52.0M
$27.0M
Interest expense, net of amounts capitalized
($555.0M)
($362.0M)
($646.0M)
($561.0M)
Gain (loss) on retirement of debt
$3.0M
$161.0M
($31.0M)
$8.0M
Other, net
($99.0M)
$45.0M
$9.0M
($5.0M)
Total other income (expense), net
($611.0M)
($106.0M)
($616.0M)
($531.0M)
Loss before income taxes
($2.9B)
($523.0M)
($941.0M)
($562.0M)
Income tax expense (benefit)
($33.0M)
($11.0M)
$13.0M
$59.0M
Net loss
($2.9B)
($512.0M)
($954.0M)
($621.0M)
Net loss attributable to controlling interest
($2.9B)
($512.0M)
($954.0M)
($621.0M)
Loss per share, basic (in dollars per share)
-$3.04
-$0.60
-$1.24
-$0.89
Loss per share, diluted (in dollars per share)
-$3.04
-$0.76
-$1.24
-$0.89
Weighted-average shares outstanding, basic (in shares)
960.0M
850.0M
768.0M
699.0M
Weighted-average shares outstanding, diluted (in shares)
960.0M
925.0M
768.0M
699.0M
Transocean Ltd income statement, quarters
Line item
Jun 30, 2026 · Q2
Mar 31, 2026 · Q1
Sep 30, 2025 · Q3
Jun 30, 2025 · Q2
Contract drilling revenues
$966.0M
$1.1B
$1.0B
$988.0M
Operating and maintenance
$608.0M
$606.0M
$584.0M
$599.0M
Depreciation and amortization
$148.0M
$143.0M
$161.0M
$175.0M
General and administrative
$56.0M
$49.0M
$46.0M
$49.0M
Total costs and expenses
$812.0M
$798.0M
$791.0M
$823.0M
Gain (loss) on disposal of assets, net
($2.0M)
$4.0M
($1.0M)
$7.0M
Operating income (loss)
$152.0M
$287.0M
($1.7B)
($964.0M)
Interest income
$12.0M
$10.0M
$12.0M
$10.0M
Interest expense
$20.0M
($276.0M)
($154.0M)
($112.0M)
Total other income (expense), net
$32.0M
($270.0M)
($220.0M)
($129.0M)
Income (loss) before income taxes
$184.0M
$17.0M
($1.9B)
($1.1B)
Income tax expense (benefit)
$14.0M
($54.0M)
$26.0M
($155.0M)
Net income (loss)
$170.0M
$71.0M
($1.9B)
($938.0M)
Earnings (loss) per share, basic (in dollars per share)
$0.15
$0.06
-$2.00
-$1.06
Earnings (loss) per share, diluted (in dollars per share)
$0.04
$0.06
-$2.00
-$1.06
Weighted-average shares outstanding, basic (in shares)
1.1B
1.1B
961.0M
888.0M
Weighted-average shares outstanding, diluted (in shares)
1.2B
1.1B
961.0M
888.0M
Balance sheet
Transocean Ltd balance sheet, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Cash and cash equivalents
$620.0M
$560.0M
$762.0M
$683.0M
Accounts receivable, net
$540.0M
$564.0M
$512.0M
$485.0M
Materials and supplies, net
$378.0M
$439.0M
$426.0M
$388.0M
Assets held for sale
$24.0M
$343.0M
—
—
Restricted cash and cash equivalents
$377.0M
$381.0M
$233.0M
$308.0M
Other current assets
$142.0M
$165.0M
$193.0M
$144.0M
Total current assets
$2.1B
$2.5B
$2.1B
$2.0B
Property and equipment
$17.5B
$22.4B
$23.9B
$24.2B
Less accumulated depreciation
($4.9B)
($6.6B)
($6.9B)
($6.7B)
Property and equipment, net
$12.6B
$15.8B
$16.9B
$17.5B
Deferred tax assets, net
$61.0M
$45.0M
$44.0M
$13.0M
Other assets
$923.0M
$1.0B
$1.1B
$890.0M
Total assets
$15.6B
$19.4B
$20.3B
$20.4B
Accounts payable
$242.0M
$255.0M
$323.0M
$281.0M
Accrued income taxes
$22.0M
$31.0M
$23.0M
$19.0M
Debt due within one year
$445.0M
$686.0M
$370.0M
$719.0M
Other current liabilities
$627.0M
$691.0M
$681.0M
$539.0M
Total current liabilities
$1.3B
$1.7B
$1.4B
$1.6B
Long-term debt
$5.2B
$6.2B
$7.0B
$6.6B
Deferred tax liabilities, net
$404.0M
$499.0M
$540.0M
$493.0M
Other long-term liabilities
$582.0M
$729.0M
$858.0M
$965.0M
Total long-term liabilities
$6.2B
$7.4B
$8.4B
$8.1B
Shares, $0.10 par value, 1,204,009,681 authorized, 141,262,093 conditionally authorized, 1,204,009,681 issued and 1,101,528,481 outstanding at December 31, 2025, and 1,057,879,029 authorized, 141,262,093 conditionally authorized, 940,828,901 issued and 875,830,772 outstanding at December 31, 2024
110.0M
87.0M
81.0M
71.0M
Additional paid-in capital
$15.6B
$14.9B
$14.5B
$14.0B
Accumulated deficit
($7.5B)
($4.5B)
($4.0B)
($3.1B)
Accumulated other comprehensive loss
($146.0M)
($138.0M)
($177.0M)
($185.0M)
Total controlling interest shareholders' equity
$8.1B
$10.3B
$10.4B
$10.8B
Total equity
$8.1B
$10.3B
$10.4B
$10.8B
Total liabilities and equity
$15.6B
$19.4B
$20.3B
$20.4B
Transocean Ltd balance sheet, quarters
Line item
Jun 30, 2026
Mar 31, 2026
Sep 30, 2025
Jun 30, 2025
Cash and cash equivalents
$509.0M
$330.0M
$833.0M
$377.0M
Accounts receivable, net of allowance of $2 at June 30, 2026 and December 31, 2025
$604.0M
$638.0M
$574.0M
$577.0M
Materials and supplies, net of allowance of $146 and $140 at June 30, 2026 and December 31, 2025, respectively
$379.0M
$383.0M
$382.0M
$427.0M
Assets held for sale
$1.0M
$1.0M
$48.0M
$43.0M
Restricted cash and cash equivalents
$286.0M
$285.0M
$417.0M
$395.0M
Other current assets
$133.0M
$129.0M
$163.0M
$181.0M
Total current assets
$1.9B
$1.8B
$2.4B
$2.0B
Property and equipment
$17.5B
$17.5B
$17.4B
$21.0B
Less accumulated depreciation
($5.1B)
($5.0B)
($4.7B)
($6.2B)
Property and equipment, net
$12.3B
$12.5B
$12.7B
$14.8B
Deferred tax assets, net
$70.0M
$47.0M
$95.0M
$48.0M
Other assets
$842.0M
$879.0M
$974.0M
$1.0B
Total assets
$15.2B
$15.2B
$16.2B
$17.8B
Accounts payable
$283.0M
$229.0M
$232.0M
$253.0M
Accrued income taxes
$9.0M
$28.0M
$5.0M
$8.0M
Debt due within one year
$397.0M
$329.0M
$1.4B
$666.0M
Other current liabilities
$514.0M
$562.0M
$626.0M
$655.0M
Total current liabilities
$1.2B
$1.1B
$2.2B
$1.6B
Long-term debt
$4.7B
$4.9B
$4.8B
$5.9B
Deferred tax liabilities, net
$340.0M
$317.0M
$403.0M
$345.0M
Other long-term liabilities
$532.0M
$549.0M
$609.0M
$645.0M
Total long-term liabilities
$5.6B
$5.8B
$5.9B
$6.9B
Shares, $0.10 par value, 1,445 authorized, 141 conditionally authorized, 1,304 issued and 1,117 outstanding at June 30, 2026 and 1,204 authorized, 141 conditionally authorized, 1,204 issued and 1,102 outstanding at December 31, 2025
112.0M
111.0M
110.0M
90.0M
Additional paid-in capital
$15.6B
$15.6B
$15.6B
$15.0B
Accumulated deficit
($7.2B)
($7.4B)
($7.5B)
($5.6B)
Accumulated other comprehensive loss
($140.0M)
($141.0M)
($143.0M)
($141.0M)
Total equity
$8.4B
$8.2B
$8.1B
$9.4B
Total liabilities and equity
$15.2B
$15.2B
$16.2B
$17.8B
Cash flow statement
Transocean Ltd cash flow statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Net loss
($2.9B)
($512.0M)
($954.0M)
($621.0M)
Depreciation and amortization
$659.0M
$739.0M
$744.0M
$735.0M
Share-based compensation expense
$35.0M
$47.0M
$40.0M
$29.0M
Loss on impairment of assets
$3.0B
$772.0M
$57.0M
—
(Gain) loss on disposal of assets, net
($7.0M)
$17.0M
$183.0M
$10.0M
Amortization of debt-related balances, net
$48.0M
$53.0M
$51.0M
—
(Gain) loss on adjustment to bifurcated compound exchange feature
($10.0M)
($214.0M)
$127.0M
$157.0M
(Gain) loss on retirement of debt
($3.0M)
($161.0M)
$31.0M
($8.0M)
Loss on conversion of debt to equity
$99.0M
—
—
—
Deferred income tax expense (benefit)
($111.0M)
($42.0M)
$18.0M
$46.0M
Other, net
$14.0M
($7.0M)
$43.0M
$77.0M
Changes in contract liabilities, net
($170.0M)
$45.0M
$70.0M
($20.0M)
Changes in deferred costs, net
$86.0M
($2.0M)
($190.0M)
$1.0M
Changes in other operating assets and liabilities, net
($25.0M)
($297.0M)
($113.0M)
($75.0M)
Net cash provided by operating activities
$749.0M
$447.0M
$164.0M
$448.0M
Capital expenditures
($123.0M)
($254.0M)
($427.0M)
($717.0M)
Proceeds from disposal of assets, net of costs to sell
$84.0M
$101.0M
$10.0M
$7.0M
Proceeds from disposal of equity investment in unconsolidated affiliate
$6.0M
—
—
—
Net cash used in investing activities
($33.0M)
($151.0M)
($423.0M)
($757.0M)
Repayments of debt
($1.6B)
($2.1B)
($1.7B)
($554.0M)
Proceeds from issuance of debt, net of issue costs
$492.0M
$1.8B
$2.0B
$175.0M
Proceeds from issuance of shares, net of issue costs
421.0M
—
—
263.0M
Other, net
($17.0M)
($17.0M)
($3.0M)
($8.0M)
Net cash provided by (used in) financing activities
($660.0M)
($350.0M)
$263.0M
($112.0M)
Net increase (decrease) in unrestricted and restricted cash and cash equivalents
$56.0M
($54.0M)
$4.0M
($421.0M)
Unrestricted and restricted cash and cash equivalents, beginning of period
$941.0M
$995.0M
$991.0M
$1.4B
Unrestricted and restricted cash and cash equivalents, end of period
$997.0M
$941.0M
$995.0M
$991.0M
Transocean Ltd cash flow statement, quarters
Line item
Jun 30, 2026 · YTD
Mar 31, 2026 · Q1
Sep 30, 2025 · YTD
Jun 30, 2025 · YTD
Net income (loss)
$241.0M
$71.0M
($2.9B)
($1.0B)
Depreciation and amortization
$291.0M
$143.0M
$512.0M
$351.0M
Share-based compensation expense
$15.0M
$8.0M
$26.0M
$16.0M
Gain on disposal of assets, net
($2.0M)
($4.0M)
($8.0M)
($9.0M)
Amortization of debt-related balances, net
$20.0M
$10.0M
$36.0M
$25.0M
(Gain) loss on adjustment to bifurcated compound exchange feature
$19.0M
$153.0M
($51.0M)
($65.0M)
Loss on retirement of debt
$11.0M
$11.0M
—
—
Deferred income tax benefit
($73.0M)
($73.0M)
($146.0M)
($157.0M)
Changes in contract liabilities, net
($83.0M)
($42.0M)
($136.0M)
($84.0M)
Changes in deferred costs, net
$46.0M
$31.0M
$53.0M
$16.0M
Changes in other operating assets and liabilities, net
($84.0M)
($143.0M)
($107.0M)
($89.0M)
Net cash provided by operating activities
$400.0M
$164.0M
$400.0M
$154.0M
Capital expenditures
($52.0M)
($28.0M)
($95.0M)
($84.0M)
Investment in equity of unconsolidated affiliates
($2.0M)
—
—
—
Proceeds from disposal of assets, net of costs to sell
$26.0M
$25.0M
$44.0M
$10.0M
Proceeds from disposal of investment in note receivable from unconsolidated affiliate
$13.0M
$13.0M
—
—
Net cash used in investing activities
($15.0M)
$10.0M
($47.0M)
($70.0M)
Repayments of debt
($586.0M)
($556.0M)
($450.0M)
($240.0M)
Other, net
($1.0M)
($1.0M)
$13.0M
$31.0M
Net cash used in financing activities
($587.0M)
($556.0M)
($44.0M)
($253.0M)
Net decrease in unrestricted and restricted cash and cash equivalents
($202.0M)
($382.0M)
$309.0M
($169.0M)
Unrestricted and restricted cash and cash equivalents, beginning of period
$997.0M
$997.0M
$941.0M
$941.0M
Unrestricted and restricted cash and cash equivalents, end of period