越洋钻探 2025年季度报告

FORM10-Q (Mark one)☑QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d)OF THE SECURITIES EXCHANGEACT OF 1934 For the quarterly period endedSeptember30, 2025OR ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d)OF THE SECURITIES EXCHANGEACT OF 1934 For the transition period from _____ to _____ Commission file number001-38373 TransoceanLtd. (Exact name of registrant as specified in its charter) 98-0599916(I.R.S. Employer Identification No.) Switzerland(State or other jurisdiction of incorporation ororganization) Turmstrasse30Steinhausen,Switzerland(Address of principal executive offices) 6312 (Zip Code) +41 (41)749-0500(Registrant’s telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act: Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d)ofthe Securities Exchange Act of 1934 during the preceding 12months (or for such shorter period that the registrant wasrequired to file such reports), and (2)has been subject to such filing requirements for the past 90days.YesþNo◻ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required tobe submitted pursuant to Rule405 of RegulationS-T (§232.405 of this chapter) during the preceding 12months (or forsuch shorter period that the registrant was required to submit such files).YesþNo◻ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-acceleratedfiler, a smaller reporting company or an emerging growth company.See the definitions of “large accelerated filer,”“accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule12b-2 of the Exchange Act. Large accelerated filerþAccelerated filer◻Non-accelerated filer◻Smaller reporting company☐Emerging growthcompany☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extendedtransitionperiod for complying with any new or revised financial accounting standards provided pursuant toSection13(a) of the Exchange Act.◻ Indicate by check mark whether the registrant is a shell company (as defined in Rule12b-2 of the Exchange Act).Yes☐Noþ As of October23, 2025,1,101,441,205shares were outstanding. TRANSOCEANLTD. AND SUBSIDIARIESINDEX TO QUARTERLY REPORT ON FORM10-QQUARTER ENDED SEPTEMBER30, 2025 PART II.OTHER INFORMATIONItem1.Legal Proceedings24Item1ARisk Factors24Item2.Unregistered Sales of Equity Securities and Use of Proceeds25Item 3.Defaults Upon Senior Securities25Item 4.Mine Safety Disclosures25Item 5.Other Information25Item6.Exhibits25 TRANSOCEANLTD. AND SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS(inmillions, except per share data) Loss before income tax expense (benefit)(1,897)(525)(3,030)(585)Income tax expense (benefit)26(31)(90)(66) TABLE OF CONTENTS TRANSOCEANLTD. AND SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)(inmillions) See accompanying notes. TRANSOCEANLTD. AND SUBSIDIARIESCONDENSED CONSOLIDATED BALANCE SHEETS(inmillions, except share data) (Unaudited) Cash and cash equivalents$833$560Accounts receivable, net of allowance of $2at September 30, 2025 and December 31,2024574564Materials and supplies, net of allowance of $138and $178at September 30, 2025 andDecember 31, 2024, respectively382439Assets held for sale48343Restricted cash and cash equivalents417381Other current assets163165Total current assets2,4172,452 See accompanying notes. TRANSOCEANLTD. AND SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTS OF EQUITY(inmillions) TRANSOCEANLTD. AND SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS(inmillions) (Unaudited) See accompanying notes. TRANSOCEANLTD. AND SUBSIDIARIESNOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS(Unaudited) NOTE1—BUSINESS TransoceanLtd.(together with its subsidiaries and predecessors,unless the contextrequires otherwise, “Transocean,” “we,” “us” or “our”) is a leading international provider of offshorecontract drilling services for oil and gas wells.As of September30, 2025, we owned or had partialownership interests in and operated a fleet of27mobile offshore drilling units, consisting of20ultra-deepwater floaters andsevenharsh environment floaters. NOTE2—SIGNIFICANT ACCOUNTING POLICIES Presentation—We prepared our accompanying unaudited condensed consolidatedfinancial statements in accordance with accounting principles generally accepted in the UnitedStates(“U.S.”)for interim financial information and with the instructions to Form 10-Q andArticle10 of Regulation S-X promulgated by the U.S. Securities and Exchange Commission.Pursuant to such rules and regulations, these financial statements do not include all disclosuresrequired by accounting principles generally accepted in the U.S. for complete financial statements.The condensed consolidated financial statements reflect all adjustments, which are, in the opinionof management, necessary