{"text_format":"1","workbook":"xlsx","n_sheets":2,"sheets":["Maersk Drilling","Definitions"],"not_rendered":{"charts":0,"images":1,"macros":1,"external_links":7,"defined_names":55,"comments":0,"pivot_tables":0},"unopened":[],"bounds":{"document_bytes":16777216,"sheet_cells":100000,"rows_first":2000,"rows_last":500,"rows_between":2000,"halvings":0,"cell_chars":16384,"cell_head_chars":4096},"cells_cut":0,"cells_raw":0,"read":"whole","date_system":"1900"}

{"sheet":"Maersk Drilling","index":0,"n_rows":191,"n_cols":15,"rows_kept":191,"cut":false,"hidden":false,"merged":[[165,1,166,1],[165,5,165,6],[0,0,5,15],[62,1,63,1],[62,5,62,6],[108,1,109,1],[108,5,108,6],[135,1,136,1],[135,5,135,6],[10,1,11,1],[10,5,10,6],[30,5,30,6],[30,1,31,1]]}
[]
[]
[]
[]
[]
[]
[]
[]
[null,"Consolidated income statement"]
[]
[null,"Amounts in USD million",null,2019,null,2018,null,null,2017,null,2016,null,2015,null,2014]
[null,null,null,"Q1",null,"FY","Q1",null,"FY",null,"FY",null,"FY",null,"FY"]
[]
[null,"Revenue",null,308,null,1429,336,null,1439,null,2297,null,2518,null,1998]
[null,"Costs",null,null,null,-818,null,null,-756,null,-916,null,-1125,null,-1095]
[null,"Profit before depreciation and amortisation, impairment losses and special items (EBTIDA before special items)",null,null,null,611,null,null,683,null,1381,null,1393,null,903]
[null,"Special items",null,null,null,-16,null,null,2,null,16,null,10,null,9]
[null,"Profit before depreciation and amortisation and impairment losses/reversals (EBTIDA)",null,null,null,595,null,null,685,null,1397,null,1403,null,912]
[null,"Depreciation and amortisation",null,null,null,-403,null,null,-468,null,-589,null,-520,null,-310]
[null,"Impairment losses/reversals",null,null,null,810,null,null,-1769,null,-1510,null,-27,null,-35]
[null,"Share of results in joint ventures",null,null,null,-1,null,null,0,null,0,null,0,null,0]
[null,"Profit/loss before financial items (EBIT)",null,null,null,1001,null,null,-1552,null,-702,null,856,null,567]
[null,"Financial items, net",null,null,null,-12,null,null,-19,null,-89,null,-101,null,42]
[null,"Profit/loss before tax",null,null,null,989,null,null,-1571,null,-791,null,755,null,609]
[null,"Tax",null,null,null,-48,null,null,49,null,1,null,-154,null,-141]
[null,"Profit/loss for the year",null,null,null,941,null,null,-1522,null,-790,null,601,null,468]
[]
[]
[null,"Consolidated cash flow statement"]
[]
[null,"Amounts in USD million",null,2019,null,2018,null,null,2017,null,2016,null,2015,null,2014]
[null,null,null,"Q1",null,"FY","Q1",null,"FY",null,"FY",null,"FY",null,"FY"]
[]
[null,"Profit/loss before financial items",null,null,null,1001,null,null,-1552,null,-702]
[null,"Depreciation, amortisation and impairment losses/reversals, net",null,null,null,-407,null,null,2237,null,2099]
[null,"Gain on sale of non-current assets, etc., net",null,null,null,0,null,null,0,null,1]
[null,"Change in working capital",null,null,null,11,null,null,53,null,58]
[null,"Change in provisions, etc.",null,null,null,16,null,null,-8,null,-1]
[null,"Taxes paid, net",null,null,null,-28,null,null,-78,null,-92]
[null,"Cash flow from operating activities",null,null,null,593,null,null,652,null,1363,null,1301,null,615]
[]
[null,"Purchase of intangible assets and property, plant and equipment",null,null,null,-155,null,null,-508,null,-338]
[null,"Sale of intangible assets and property, plant and equipment",null,null,null,21,null,null,0,null,10]
[null,"Sale of subsidiaries and activities",null,null,null,0,null,null,60,null,0]
[null,"Other financial investments, net",null,null,null,-2,null,null,0,null,0]
[null,"Cash flow used for investing activities",null,null,null,-136,null,null,-448,null,-328,null,-893,null,-2235]
[]
[null,"Financial income received",null,null,null,47,null,null,38,null,16]
[null,"Financial expenses paid",null,null,null,-63,null,null,-70,null,-74]
[null,"Proceeds from/(repayment of) borrowings, net",null,null,null,1208,null,null,-583,null,-541]
[null,"Dividends distributed",null,null,null,-1326,null,null,0,null,0]
[null,"Cash flow from financing activities",null,null,null,-134,null,null,-615,null,-599]
[]
[null,"Net cash flow for the year",null,null,null,323,null,null,-411,null,436]
[]
[null,"Cash and bank balances 1 January",null,null,null,49,null,null,460,null,44]
[null,"Currency translation effect on cash and bank balances",null,null,null,9.9999999999999978E-2,null,null,9.9999999999999978E-2,null,-20]
[null,"Cash and bank balances 31 December",null,null,null,372,null,null,49,null,460]
[]
[]
[null,"Consolidated balance sheet"]
[]
[null,"Amounts in USD million",null,2019,null,2018,null,null,2017,null,2016,null,2015,null,2014]
[null,null,null,"Q1",null,"FY","Q1",null,"FY",null,"FY",null,"FY",null,"FY"]
[]
[null,"Intangible assets",null,null,null,56,null,null,85,null,109]
[null,"Property, plant and equipment",null,null,null,4845,null,null,4270,null,5974]
[null,"Financial non-current assets, etc.",null,null,null,3,null,null,2,null,31]
[null,"Deferred tax",null,null,null,2,null,null,20,null,16]
[null,"Total non-current assets",null,null,null,4906,null,null,4377,null,6130]
[]
[null,"Trade receivables",null,null,null,339,null,null,297,null,288]
[null,"Loans receivable",null,null,null,2,null,null,3390,null,4134]
[null,"Other receivables",null,null,null,37,null,null,60,null,96]
[null,"Prepayments",null,null,null,58,null,null,79,null,101]
[null,"Receivables, etc.",null,null,null,436,null,null,3826,null,4619]
[]
[null,"Cash and bank balances",null,null,null,372,null,null,49,null,460]
[null,"Total current assets",null,null,null,808,null,null,3875,null,5079]
[null,"Total assets",null,null,null,5714,null,null,8252,null,11209,null,12028,null,11163]
[]
[null,"Share capital",null,null,null,87,null,null,87,null,87]
[null,"Reserves",null,null,null,3723,null,null,6122,null,8170]
[null,"Dividend proposed for the year",null,null,null,0,null,null,0,null,500]
[null,"Total equity",null,null,null,3810,null,null,6209,null,8757,null,8316,null,5346]
[]
[null,"Borrowings, non-current",null,null,null,1375,null,null,0,null,1939]
[]
[null,"Provisions",null,null,null,2,null,null,2,null,1]
[null,"Deferred tax",null,null,null,60,null,null,68,null,108]
[null,"Other non-current liabilities",null,null,null,62,null,null,70,null,109]
[null,"Total non-current liabilities",null,null,null,1437,null,null,70,null,2048]
[]
[null,"Borrowings, current",null,null,null,95,null,null,1632,null,14]
[]
[null,"Provisions",null,null,null,26,null,null,8,null,20]
[null,"Trade payables",null,null,null,196,null,null,163,null,148]
[null,"Tax payables",null,null,null,40,null,null,41,null,70]
[null,"Other payables",null,null,null,71,null,null,81,null,95]
[null,"Deferred income",null,null,null,39,null,null,48,null,57]
[null,"Other current liabilities",null,null,null,372,null,null,341,null,390]
[null,"Total current liabilities",null,null,null,467,null,null,1973,null,404]
[null,"Total liabilities",null,null,null,1904,null,null,2043,null,2452]
[null,"Total equity and liabilities",null,null,null,5714,null,null,8252,null,11209,null,12028,null,11163]
[]
[]
[null,"Performance indicators"]
[]
[null,"Amounts in USD million",null,2019,null,2018,null,null,2017,null,2016,null,2015,null,2014]
[null,null,null,"Q1",null,"FY","Q1",null,"FY",null,"FY",null,"FY",null,"FY"]
[]
[null,"Business drivers"]
[null,"No. of rigs at period end",null,23,null,23,23,null,24,null,23,null,22,null,21]
[null,"Contracted days",null,1475,null,6024,1488,null,5553,null,6318,null,7194,null,6393]
[null,"Available days",null,2019,null,8695,2208,null,8460,null,7894,null,7810,null,6411]
[null,"Utilisation",null,0.73,null,0.69,0.67,null,0.66,null,0.8,null,0.92,null,1]
[null,"Average dayrate (USDk)",null,208,null,237,225,null,258,null,361,null,345,null,309]
[null,"Financial uptime",null,0.999,null,0.99099999999999999,0.98599999999999999,null,0.98499999999999999,null,0.99299999999999999,null,0.98599999999999999,null,0.98599999999999999]
[]
[null,"Financial ratios"]
[null,"EBITDA margin before special items",null,null,null,0.43,null,null,0.47,null,0.6,null,0.55000000000000004,null,0.45]
[null,"Return on equity",null,null,null,0.19,null,null,-0.2,null,-0.09,null,0.09,null,0.09]
[null,"Cash conversion",null,null,null,1,null,null,0.95,null,0.98,null,0.93,null,0.67]
[null,"Asset turnover",null,null,null,0.31,null,null,0.28000000000000003,null,0.33,null,0.33]
[null,"Equity ratio",null,null,null,0.67,null,null,0.75,null,0.78,null,0.69,null,0.48]
[null,"Leverage",null,null,null,1.8,null,null,-2.6,null,-1.9,null,-0.4,null,2.4]
[]
[null,"Balance sheet and cash flow items"]
[null,"Net debt/(receivable)",null,null,null,1097,null,null,-1809,null,-2668,null,-503,null,2165]
[null,"Investments in non-current assets (Capex)",null,null,null,182,null,null,520,null,307,null,894,null,2398]
[null,"Adjusted free cash flow",null,null,null,457,null,null,593,null,1267,null,1186,null,201]
[]
[]
[null,"Segment information - Jack-up rigs"]
[]
[null,"Amounts in USD million",null,2019,null,2018,null,null,2017,null,2016,null,2015,null,2014]
[null,null,null,"Q1",null,"FY","Q1",null,"FY",null,"FY",null,"FY",null,"FY"]
[]
[null,"Income statement"]
[null,"Revenue",null,204,null,896,205,null,890,null,1012]
[null,"Costs",null,null,null,-437,null,null,-417,null,-467]
[null,"Profit before depreciation and amortisation, impairment losses and special items (EBTIDA before special items)",null,null,null,459,null,null,473,null,545]
[]
[null,"Depreciation and amortisation",null,null,null,-193,null,null,-226,null,-259]
[null,"Impairment losses/reversals",null,null,null,365,null,null,-691,null,-441]
[]
[null,"Business drivers"]
[null,"No. of rigs at period end",null,15,null,15,15,null,16,null,15]
[null,"Contracted days",null,1057,null,4216,1029,null,3929,null,4072]
[null,"Available days",null,1350,null,5779,1472,null,5540,null,4974]
[null,"Utilisation",null,0.78,null,0.73,0.7,null,0.71,null,0.82]
[null,"Average dayrate (USDk)",null,193,null,213,199,null,227,null,249]
[null,"Financial uptime",null,0.999,null,0.99199999999999999,0.99099999999999999,null,0.97799999999999998,null,0.99199999999999999]
[]
[null,"Financial ratios"]
[null,"EBITDA margin before special items",null,null,null,0.51,null,null,0.53,null,0.54]
[null,"Asset turnover",null,null,null,0.33,null,null,0.31,null,0.31]
[]
[null,"Balance sheet items"]
[null,"Non-current assets",null,null,null,2855,null,null,2620,null,3049]
[null,"Investments in non-current assets (Capex)",null,null,null,68,null,null,479,null,276]
[]
[]
[null,"Segment information - Floaters"]
[]
[null,"Amounts in USD million",null,2019,null,2018,null,null,2017,null,2016,null,2015,null,2014]
[null,null,null,"Q1",null,"FY","Q1",null,"FY",null,"FY",null,"FY",null,"FY"]
[]
[null,"Income statement"]
[null,"Revenue",null,104,null,530,131,null,541,null,1266]
[null,"Costs",null,null,null,-367,null,null,-332,null,-434]
[null,"Profit before depreciation and amortisation, impairment losses and special items (EBTIDA before special items)",null,null,null,163,null,null,209,null,832]
[]
[null,"Depreciation and amortisation",null,null,null,-196,null,null,-229,null,-318]
[null,"Impairment losses/reversals",null,null,null,445,null,null,-1078,null,-1069]
[]
[null,"Business drivers"]
[null,"No. of rigs at period end",null,8,null,8,8,null,8,null,8]
[null,"Contracted days",null,418,null,1808,459,null,1624,null,2246]
[null,"Available days",null,669,null,2916,736,null,2920,null,2920]
[null,"Utilisation",null,0.62,null,0.62,0.62,null,0.56000000000000005,null,0.77]
[null,"Average dayrate (USDk)",null,247,null,293,284,null,333,null,564]
[null,"Financial uptime",null,1,null,0.98799999999999999,0.97499999999999998,null,0.995,null,0.995]
[]
[null,"Financial ratios"]
[null,"EBITDA margin before special items",null,null,null,0.31,null,null,0.39,null,0.66]
[null,"Asset turnover",null,null,null,0.28999999999999998,null,null,0.24,null,0.35]
[]
[null,"Balance sheet items"]
[null,"Non-current assets",null,null,null,1957,null,null,1639,null,2932]
[null,"Investments in non-current assets (Capex)",null,null,null,78,null,null,21,null,6]

{"sheet":"Definitions","index":1,"n_rows":41,"n_cols":8,"rows_kept":41,"cut":false,"hidden":false,"merged":[[0,0,2,16383],[31,1,33,1],[32,5,36,5],[34,3,35,3],[36,1,37,1],[20,7,21,7],[5,1,7,1],[5,5,9,5],[5,7,10,7],[8,3,9,3],[10,1,11,1],[14,1,17,1],[15,3,16,3],[16,7,17,7],[38,3,39,3],[40,1,42,1],[18,5,19,5],[19,3,21,3],[20,1,28,1],[25,5,29,5],[27,3,28,3]]}
[]
[]
[]
[]
[null,"Adjusted free cash flow",null,"Deepwater",null,"Jack-up rig",null,"Special items"]
[null,"Cash flow from operating activities less cash flow used for investing activities, adjusted for newbuild cash flow and proceeds from sale of activities.",null,"Water depths greater than 5,000 ft.",null,"A mobile drilling platform that stands on the seabed by means of three steel legs and a self-elevating system that adjusts the platform height to the water depth during the drilling operation, typically used for shallow water drilling.",null,"Special items comprise non-recurring income and expenses that are not considered part of Maersk Drilling's ordinary operations, such as gains and losses on divestments, compensation from shipyards and restructuring project, including separation and demerger costs."]
[]
[null,null,null,"Drillship"]
[null,null,null,"A vessel that has been fitted with drilling equipment, mainly used for deepwater drilling."]
[null,"Asset turnover"]
[null,"Revenue as a percentage of average non-current assets."]
[null,null,null,"EBIT",null,"Leverage"]
[null,null,null,"Profit/loss before financial items and income taxes.",null,"Net debt divided by EBITDA before special items.",null,"Ultra deepwater"]
[null,"Available days",null,null,null,null,null,"Water depths greater than 7,500 ft."]
[null,"Available days are the aggregate number of calendar days in the period less yard stays, if not paid by the customer. For new rigs entering the fleet, available days are from when the rig is ready to operate.",null,"EBITDA",null,"Midwater"]
[null,null,null,"Profit/loss before depreciation, amortisation and impairment losses, financial items, and income taxes.",null,"Water depths of 401-5,000 ft.",null,"Utilisation"]
[null,null,null,null,null,null,null,"Utilisation is the number of contracted days, divided by the number of available days."]
[null,null,null,null,null,"Net debt"]
[null,null,null,"EBITDA before special items",null,"Equals interest-bearing debt less cash and bank balances less other interest-bearing assets."]
[null,"Average day rates",null,"Profit/loss before depreciation, amortisation and impairment losses and special items, financial items, and income taxes.",null,null,null,"Working capital"]
[null,"Average day rates are calculated by dividing day rate revenue by the number of contracted days. Day rate revenue includes the contractual rates for when the rig is in operation but also certain amounts received in lump sum such as for rig mobilisation or capital improvement, which are amortised over the initial term of the contract. Revenue attributable to reimbursable expenses is excluded in the calculation of average day rates.",null,null,null,null,null,"Equals trade receivables and other current assets less payables and other current payables."]
[null,null,null,null,null,"Return on equity"]
[null,null,null,null,null,"Profit/loss for the year divided by the average equity."]
[null,null,null,"EBITDA margin"]
[null,null,null,"EBITDA as a percentage of total revenues.",null,"Revenue backlog"]
[null,null,null,null,null,"Future contract commitments for a rig, for a particular point in time at which revenues are expected to be realised. Calculated by multiplying contracted day rate by the contracted period, excluding optional extension periods."]
[null,null,null,"EBITDA margin before special items"]
[null,null,null,"EBITDA before special items as a percentage of total revenues."]
[]
[]
[null,"CAPEX",null,"Equity ratio"]
[null,"Investments in intangible assets and property, plant and equipment, including additions from business combinations.",null,"Equity as a percentage of total assets.",null,"Semi-submersible"]
[null,null,null,null,null,"A mobile vessel that is partially submerged in water during the drilling operation and positioned by means of conventional mooring system and/or a computerised dynamic positioning system, typically used for midwater and deepwater drilling."]
[null,null,null,"Financial uptime"]
[null,null,null,"Hours that can be invoiced for the rig in use by the customer as a percentage of total hours in period."]
[null,"Cash conversion"]
[null,"Cash flow from operating activities as a percentage of EBITDA."]
[null,null,null,"Forward contract coverage"]
[null,null,null,"Percentage indicating the part of rig days that are contracted for a specific period.",null,"Shallow water"]
[null,"Contracted days",null,null,null,"Water depths up to 400 ft."]
[null,"Contracted days are days covered by the contract with a customer, including mobilisation or yard stays if paid by the customer."]