Transocean : GMI Financial Information - 2024
RIG
Published on 06/26/2025 at 15:38
Global Marine Inc. ("Global Marine"), a Delaware holding company, is a wholly owned indirect subsidiary of Transocean Ltd. ("Transocean") and issuer of the 7.00% Notes due 2028. Global Marine, through one of its subsidiaries, provides procurement and storage services to Transocean's other subsidiaries. Unaudited summarized consolidated financial information for Global Marine Inc. and its subsidiaries was as follows (in millions):
Years ended December 31,
2024
2023
Statement of operations information
Operating revenues from affiliates
$
66
$
36
Operating loss
(11)
(8)
Net income
38
44
December 31,
2024
2023
Balance sheet information
Current assets
$
34
$
41
Receivables from affiliates
2,126
2,080
Property and equipment, net
260
277
Other assets
46
45
Current liabilities
57
71
Payables to affiliates
236
237
Long-term debt
263
264
Other long-term liabilities
6
5
Equity
1904
1,866
The accompanying unaudited summarized consolidated financial information for Global Marine Inc. and its subsidiaries has been derived from Transocean's accounting records and has not been subject to the audit or review procedures of independent auditors. Such unaudited financial information is not prepared in accordance with accounting principles generally accepted in the United States, as it omits certain required adjustments, accompanying financial statements, and substantially all required disclosures. If such omissions were included with the unaudited summarized consolidated financial information, they might influence the user's conclusions about the company's financial position, results of operations, and cash flows. Accordingly, the accompanying unaudited summarized consolidated financial information is not intended for those who are not informed about such matters. The unaudited summarized consolidated financial information is intended for informational purposes only and does not constitute, and should not be construed as, an offer to sell or issue securities or otherwise constitute an invitation or inducement to any person to purchase, underwrite, subscribe to or otherwise acquire securities in Global Marine Inc. or any of its subsidiaries.
Disclaimer
Transocean Ltd. published this content on June 26, 2025, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on June 26, 2025 at 19:37 UTC.