Transocean Ltd. and subsidiaries Non-GAAP Financial Measures and Reconciliations Adjusted Net Income (Loss) and Adjusted Diluted Earnings (Loss) Per Share (in millions, except per share data) YTD

03/31/26

Net income $ 71

Acquisition and restructuring costs 7

Gain on disposal of assets, net (5)

Loss on retirement of debt 9

Discrete tax items (110)

Adjusted Net Loss $ (28) Diluted earnings per share $ 0.06

Acquisition and restructuring costs -

Gain on disposal of assets, net -

Loss on retirement of debt 0.01

Discrete tax items (0.10)

Adjusted Diluted Loss Per Share

$ (0.03)

YTD

QTD

YTD

QTD

YTD

QTD

YTD

12/31/25

12/31/25

09/30/25

09/30/25

06/30/25

06/30/25

03/31/25

Net income (loss) attributable to controlling interest

$ (2,915)

$ 25

$ (2,940)

$ (1,923)

$ (1,017)

$ (938)

$ (79)

Restructuring costs

3

-

3

3

-

-

-

Loss on impairment of assets, net of tax

3,036

-

3,036

1,908

1,128

1,128

-

Gain on disposal of assets, net

(4)

(4)

-

-

-

-

-

Loss on conversion of debt to equity

99

-

99

75

24

24

-

Gain on retirement of debt

(3)

(3)

-

-

-

-

-

Discrete tax items

(179)

3

(182)

(1)

(181)

(195)

14

Adjusted Net Income (Loss)

$ 37

$ 21

$ 16

$ 62

$ (46)

$ 19

$ (65)

Diluted earnings (loss) per share

$ (3.04)

$ 0.02

$ (3.23)

$ (2.00)

$ (1.15)

$ (1.06)

$ (0.11)

Restructuring costs

-

-

-

-

-

-

-

Loss on impairment of assets, net of tax

3.16

-

3.34

1.98

1.27

1.27

-

Gain on disposal of assets, net

-

-

-

-

-

-

-

Loss on conversion of debt to equity

0.10

-

0.11

0.08

0.03

0.03

-

Gain on retirement of debt

-

-

-

-

-

-

-

Discrete tax items

(0.18)

-

(0.20)

-

(0.20)

(0.22)

0.01

Dilutive effect, 4.625% exchangeable bonds due December 2029

-

-

(0.03)

-

(0.05)

(0.02)

-

Adjusted Diluted Earnings (Loss) Per Share

$ 0.04

$ 0.02

$ (0.01)

$ 0.06

$ (0.10)

$ -

$ (0.10)

YTD

QTD

YTD

QTD

YTD

QTD

YTD

12/31/24

12/31/24

09/30/24

09/30/24

06/30/24

06/30/24

03/31/24

Net income (loss) attributable to controlling interest

$ (512)

$ 7

$ (519)

$ (494)

$ (25)

$ (123)

$ 98

Loss on impairment of assets, net of tax

755

-

755

617

138

138

-

Loss on impairment of investment in unconsolidated affiliates

5

-

5

-

5

4

1

Gain on retirement of debt

(161)

-

(161)

(21)

(140)

(140)

-

Discrete tax items

(141)

20

(161)

(38)

(123)

(2)

(121)

Adjusted Net Income (Loss)

$ (54)

$ 27

$ (81)

$ 64

$ (145)

$ (123)

$ (22)

Diluted earnings (loss) per share

$ (0.76)

$ (0.11)

$ (0.65)

$ (0.58)

$ (0.03)

$ (0.15)

$ 0.11

Loss on impairment of assets, net of tax

0.82

-

0.82

0.64

0.17

0.17

-

Loss on impairment of investment in unconsolidated affiliates

0.01

-

0.01

-

-

-

-

Gain on retirement of debt

(0.18)

-

(0.18)

(0.02)

(0.17)

(0.17)

-

Discrete tax items

(0.15)

0.02

(0.18)

(0.04)

(0.15)

-

(0.14)

Adjusted Diluted Loss Per Share

$ (0.26)

$ (0.09)

$ (0.18)

$ -

$ (0.18)

$ (0.15)

$ (0.03)

Attachments

  • Original document
  • Permalink

Disclaimer

Transocean Ltd. published this content on May 04, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on May 04, 2026 at 22:18 UTC.