SDRL - Seadrill reports fourth quarter and preliminary 2012 results - Seite 2

Income taxes for the fourth quarter were US$56 million, an increase of US$17 million in the previous quarter.

Net income for the quarter was US$50 million representing basic earnings per share of US$0.04.

The Company reports operating revenues of US$4,478 million, operating income of US$1,791 million and a net income of US$1,257 million for the year 2012. This compares to operating revenues of US$4,192 million, operating income of US$1,774 million and a net income of US$1,482 million for the year 2011.

 

Balance sheet
As of December 31, 2012, total assets amounted to US$19,633 million, an increase of US$154 million compared to September 30, 2012.

Total current assets increased from US$2,298 million to US$2,355 million over the course of the quarter primarily related to an increase in accounts receivable and marketable securities offset by a decrease in cash and cash equivalents. 

Total non-current assets increased from US$17,181 million to US$17,278 million mainly due to payments for the yard installments for T-15 and West Mira.

Total current liabilities increased from US$2,896 million to US$3,561 million largely due to an increase in current portion of long-term debt. 

Long-term interest bearing debt decreased from US$9,296 million to US$8,695 million over the course of the quarter and net interest bearing debt increased from $10,354 million to US$11,039 million.

Total equity decreased from US$6,567 million to US$6,077 million as of December 31, 2012. The decrease is mainly due to the paid dividend for the third quarter and the accelerated payment for the fourth quarter, offset by net income and the proceeds from the private placement in our subsidiary Seadrill Partners LLC in October 2012.   

 

Cash flow
As of December 31, 2012, cash and cash equivalents amounted to US$318 million, which corresponds to a decrease of US$200 million compared to the previous quarter. Net cash from operating activities for the period was US$1,590 million whereas net cash used in investing activities for the same period amounted to US$1,360 million, primarily related to additions to newbuilds. Net cash used for financing activities was US$395 million mainly due to dividend payments and net proceeds from debt.

Outstanding shares
As of December 31, 2012, the issued common shares in Seadrill Limited totaled 469,178,074 adjusted for our holding of 72,859 treasury shares. In addition, we had stock options for 3.9 million shares outstanding under various share incentive programs for management, out of which approximately 1.2 million have vested and are exercisable.

For further information, please see the fourth quarter and preliminary 2012 report attached.

 

 

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

Fourth quarter and preliminary 2012 results

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information contained therein.

Source: Seadrill Limited via Thomson Reuters ONE

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