Transocean Ltd. Announces Goodwill Impairment Charge
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Transocean Ltd. /
Transocean Ltd. Announces Goodwill Impairment Charge
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ZUG, SWITZERLAND--(Marketwire - February 20, 2012) - Transocean Ltd. (NYSE: RIG)
(SIX: RIGN) today announced that the company expects its fourth quarter 2011
results to include a non-cash charge related to the impairment of a substantial
portion of the goodwill associated with its contract drilling services reporting
unit. The charge, which has no tax effect, is the result of the annual
impairment test and is primarily due to the decline in the market valuation of
the contract drilling business. The company has not yet fully completed the
measurement because of the complexities involved in determining the implied fair
value of goodwill. In accordance with U.S. Generally Accepted Accounting
Principles, the company anticipates that it will complete its goodwill
impairment assessment by March 31, 2012. As of September 30, 2011, goodwill
associated with the contract drilling services reporting unit was approximately
$8 billion.
Transocean expects to release its fourth quarter and full year 2011 results on
Tuesday, February 28, 2012, following the close of trading on the NYSE.
Forward-Looking Statements
Statements included in this news release regarding Transocean's estimate of
goodwill impairment for the fiscal year ended December 31, 2011, are forward-
looking statements that involve certain assumptions. These statements are based
on currently available competitive, financial, and economic data along with our
current operating plans and involve risks and uncertainties including, but not
limited to, market conditions, Transocean's results of operations and other
factors detailed in "Risk Factors" and elsewhere in Transocean's filings with
the Securities and Exchange Commission. Should one or more of these risks or
uncertainties materialize (or the other consequences of such a development
worsen), or should underlying assumptions prove incorrect, actual outcomes may
vary materially from those forecasted or expected. Transocean disclaims any
intention or obligation to update publicly or revise such statements, whether as
a result of new information, future events or otherwise.
About Transocean
Transocean is a leading international provider of offshore contract drilling
services for oil and gas wells. Transocean owns or has partial ownership
interests in and operates a fleet of 133 mobile offshore drilling units
consisting of 50 High-Specification Floaters (Ultra-Deepwater, Deepwater and
Harsh-Environment semisubmersibles and drillships), 25 Midwater Floaters, nine
High-Specification Jackups, 48 Standard Jackups and one swamp barge. In
addition, we have two Ultra-Deepwater Drillships and four High-Specification
Jackups under construction. Transocean's fleet specializes in technically
demanding sectors of the global offshore drilling business with a particular
focus on deepwater and harsh environment drilling services. We believe we
operate one of the most versatile offshore drilling fleets in the world.
For more information about Transocean, please visit the website at
www.deepwater.com.
Analyst Contacts:
Thad Vayda
+1 713-232-7551
Chris Kettmann
+1 713-232-7420
Media Contact:
Guy A. Cantwell
+1 713-232-7647
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Transocean Ltd. via Thomson Reuters ONE
[HUG#1587286]
Unternehmensinformation / Kurzprofil:
Datum: 20.02.2012 - 07:02 Uhr
Sprache: Deutsch
News-ID 116272
Anzahl Zeichen: 4323
contact information:
Town:
Vernier
Kategorie:
Business News
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