Transocean : GMI Financial Information - 2023
RIG
GLOBAL MARINE INC. AND SUBSIDIARIES
UNAUDITED SUMMARIZED CONSOLIDATED FINANCIAL INFORMATION
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,
2023
2022
Statement of operations information
Operating revenues from affiliates
$
36
$
24
Operating loss
(8)
(6)
Net income
44
17
December 31,
Balance sheet information
2023
2022
Current assets
$
41
$
69
Receivables from affiliates
2,080
2,102
Property and equipment, net
277
111
Other assets
45
47
Current liabilities
71
61
Payables to affiliates
237
177
Long-term debt
264
264
Other long-term liabilities
5
5
Equity
1,866
1,822
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 28 June 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 June 2024 16:24:46 UTC.