Quarterly report pursuant to Section 13 or 15(d)

Asset Impairment

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Asset Impairment
6 Months Ended
Jun. 30, 2012
Asset Impairment [Abstract]  
Asset Impairment
2. Asset Impairment

During the fourth quarter of 2011, we evaluated the present value of the future cash flows related to our AADU rigs in accordance with the impairment or disposal of long-lived assets subsections of ASC 360-10, Property, Plant and Equipment. As a result, we recorded a non-cash pre-tax impairment charge of $170.0 million ($109.1 million after tax) due to the extended construction and commissioning schedule and related costs. The AADU rigs are reported as part of the U.S. Drilling segment.