Seadrill Ltd
For the period ended Dec 31, 2025. Filed Feb 26, 2026.
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FY2025 · Filed Feb 26, 2026
SDRL$42.55+0.8%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Operations
(In $ millions, except per share data)
| Year ended December 31, 2025 | Year ended December 31, 2024 | Year ended December 31, 2023 | |
|---|---|---|---|
| Operating revenues | |||
| Contract revenues | 1,089 | 1,009 | 1,154 |
| Reimbursable revenues (1) | 58 | 70 | 58 |
| Management contract revenues (1) | 254 | 247 | 245 |
| Leasing revenues (1) | 33 | 54 | 33 |
| Other revenues (1) | 3 | 5 | 12 |
| Total operating revenues | 1,437 | 1,385 | 1,502 |
| Operating expenses | |||
| Vessel and rig operating expenses | (736) | (681) | (705) |
| Reimbursable expenses | (58) | (68) | (55) |
| Depreciation and amortization | (238) | (168) | (155) |
| Management contract expenses | (232) | (175) | (174) |
| Merger and integration related expenses | (2) | (24) | (24) |
| Selling, general and administrative expenses | (103) | (107) | (74) |
| Total operating expenses | (1,369) | (1,223) | (1,187) |
| Other operating items | |||
| Loss on impairment of long-lived assets | (22) | — | — |
| Gain on disposals | 1 | 234 | 14 |
| Other operating income | — | 16 | — |
| Total other operating items | (21) | 250 | 14 |
| Operating profit | 47 | 412 | 329 |
| Financial and other non-operating items | |||
| Interest income | 14 | 25 | 35 |
| Interest expense | (61) | (61) | (59) |
| Equity in (losses)/earnings of equity method investment (net of tax) | (10) | (9) | 37 |
| Other financial and non-operating items | (41) | (34) | (25) |
| Total financial and other non-operating items, net | (98) | (79) | (12) |
| (Loss)/profit before income taxes | (51) | 333 | 317 |
| Income tax (expense)/benefit | (26) | 113 | (17) |
| Net (loss)/income | (77) | 446 | 300 |
| Basic (LPS)/EPS ($) | (1.24) | 6.56 | 4.23 |
| Diluted (LPS)/EPS ($) | (1.24) | 6.37 | 4.12 |
(1) Includes revenue received from related parties of $317 million, $319 million, and $298 million for the years ended December 31, 2025, December 31, 2024, and December 31, 2023, respectively. Refer to Note 21 – "Related party transactions" for further details.
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