Transocean Proxy Statement and 2010 Annual Report

Item 6. Selected Financial Data
The selected financial data as of December 31, 2010 and 2009 and for each of the three years in the period ended
December 31, 2010 have been derived from the audited consolidated financial statements included in “Item 8. Financial Statements and
Supplementary Data.” The selected financial data as of December 31, 2008, 2007 and 2006, and for the years ended December 31, 2007
and 2006 has been derived from audited consolidated financial statements not included herein. The following data should be read in
conjunction with “Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations” and the audited
consolidated financial statements and the notes thereto included under “Item 8. Financial Statements and Supplementary Data.”
AR-37
Years ended December 31,
2010 2009 2008 2007 (a) 2006
(In millions, except per share data)
Statement of operations data
Operating revenues $ 9,576 $ 11,556 $ 12,674 $ 6,377 $ 3,882
Operating income 1,866 4,400 5,357 3,239 1,641
Net income 988 3,170 4,029 3,121 1,385
Net income attributable to controlling interest 961 3,181 4,031 3,121 1,385
Earnings per share
Basic $ 2.99 $ 9.87 $ 12.63 $ 14.58 $ 6.31
Diluted $ 2.99 $ 9.84 $ 12.53 $ 14.08 $ 6.10
Balance sheet data (at end of period)
Total assets $ 36,811 $ 36,436 $ 35,182 $ 34,356 $ 11,476
Debt due within one year 2,012 1,868 664 6,172 95
Long-term debt 9,209 9,849 12,893 10,266 3,203
Total equity 21,375 20,559 17,167 13,382 6,836
Other financial data
Cash provided by operating activities $ 3,946 $ 5,598 $ 4,959 $ 3,073 $ 1,237
Cash used in investing activities (721) (2,694) (2,196 ) (5,677) (415)
Cash provided by (used in) financing activities (961) (2,737) (3,041 ) 3,378 (800)
Capital expenditures 1,411 3,052 2,208 1,380 876
______________________________
(a) In November 2007, Transocean Inc., a wholly owned subsidiary and our former parent holding company, reclassified each of its outstanding ordinary
shares by way of a scheme of arrangement under Cayman Islands law immediately followed by its merger with GlobalSantaFe Corporation (the
“Merger”). We accounted for the reclassification as a reverse stock split and a dividend, which requires restatement of historical weighted-average
shares outstanding and historical earnings per share for prior periods. Per share amounts for all periods have been adjusted for the reclassification.
We applied the purchase accounting method for the Merger and identified Transocean Inc. as the acquirer in the business combination. The
balance sheet data as of December 31, 2007 represents the consolidated statement of financial position of the combined company. The statement
of operations and other financial data for the year ended December 31, 2007 include approximately one month of operating results and cash flows
for the combined company. Transocean Inc. financed payments made in connection with the reclassification and Merger with borrowings under a
$15 billion bridge loan facility.