Transocean Ltd.

For the period ended Sep 30, 2025. Filed Oct 30, 2025.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Sep 30, 2025 · Filed Oct 30, 2025

RIG$5.18+0.2%Stored close · as of Nov 10, 2026

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Contents

Condensed Consolidated Statements of Cash Flows


· · Nine months ended ·
· · September 30, ·
· 2025 · 2024
Cash flows from operating activities
Net loss	$(2,940)	$(519)
Adjustments to reconcile to net cash provided by operating activities:
Amortization of contract intangible asset	—	4
Depreciation and amortization	512	559
Share-based compensation expense	26	38
Loss on impairment of assets	3,049	772
(Gain) loss on disposal of assets, net	(8)	10
Amortization of debt-related balances, net	36	39
Gain on adjustment to bifurcated compound exchange feature	(51)	(153)
Gain on retirement of debt	—	(161)
Loss on conversion of debt to equity	99	—
Loss on impairment of investment in unconsolidated affiliate	—	5
Deferred income tax benefit	(146)	(91)
Other, net	13	(18)
Changes in deferred revenues, net	(136)	98
Changes in deferred costs, net	53	(26)
Changes in other operating assets and liabilities, net	(107)	(316)
Net cash provided by operating activities	400	241

Cash flows from investing activities
Capital expenditures	(95)	(225)
Investment in loan to unconsolidated affiliate	—	(3)
Proceeds from disposal of assets, net of costs to sell	44	99
Proceeds from disposal of equity investment in unconsolidated affiliate	4	—
Cash acquired in acquisition of unconsolidated affiliate	—	5
Net cash used in investing activities	(47)	(124)

Cash flows from financing activities
Repayments of debt	(450)	(2,073)
Proceeds from issuance of debt, net of issue costs	—	1,767
Proceeds from issuance of shares, net of issue costs	421	—
Other, net	(15)	(6)
Net cash used in financing activities	(44)	(312)

Net increase (decrease) in unrestricted and restricted cash and cash equivalents	309	(195)
Unrestricted and restricted cash and cash equivalents, beginning of period	941	995
Unrestricted and restricted cash and cash equivalents, end of period	$1,250	$800

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.