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Borr Drilling Ltd

Income Statement

Standardized | As Reported Annual | Quarterly | TTM
 
In millions, except per share itemsDec-31-21Dec-31-20Dec-31-19
   20-F20-F20-F
Revenues:  
    CNOOC Petroleum Europe Limited  39.23.1 
    ExxonMobil  2.555.450.1
    Customers Accounting For More Than 10% Of Dayrate Revenue  127.6163.0210.5
    PTT Exploration and Production Public Company Limited  58.99.2 
    Other  17.276.973.5
Total revenues  245.3307.5334.1
            Revenue growth   [+]-20.2%-8.0% 
Cost of goods sold  -180.5-270.4-307.9
Gross profit  425.8577.9642.0
            Gross margin  173.6%187.9%192.2%
Selling, general and administrative   [+]34.749.150.4
Equity in earnings  16.19.5-9.0
Other operating expenses  361.0540.8636.0
EBITDA   [+]46.2-2.5-53.4
            EBITDA margin  18.8%-0.8%-16.0%
Depreciation and amortization  119.6117.9101.4
EBIT   [+]-73.4-120.4-154.8
            EBIT margin  -29.9%-39.2%-46.3%
Non-recurring items   [+]-1.258.15.0
Interest expense, net   [+]92.987.268.9
Other income (expense), net   [+]-18.2-35.7-59.2
Pre-tax income  -183.3-301.4-287.9
Income taxes  9.716.211.2
Minority interest    -1.5
Net income  -193.0-317.6-297.6
            Net margin  -78.7%-103.3%-89.1%
   
Basic EPS   [+]($1.43)($4.22)($5.54)
Diluted EPS   [+]($1.43)($4.22)($5.54)
   
Shares outstanding (basic)   [+]134.775.253.7
Shares outstanding (diluted)   [+]134.775.253.7
   
EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.  

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