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Proxy Statement and 2012 Annual Report


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Page0001
Page 1
Contents
Page 2
Shareholders' Letter
Page 3
Page0004
Page 4
Page0005
Page 5
Letter to Shareholders
Page 6
Page0007
Page 7
Invitation to Annual General Meeting of Transocean Ltd.
Page 8
Page0009
Page 9
Page0010
Page 10
Page0011
Page 11
Page0012
Page 12
Page0013
Page 13
Page0014
Page 14
Table of Contents
Page 15
Information about the Meeting and Voting
Page 16
Page0017
Page 17
Page0018
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Page0019
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Page0020
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Page0021
Page 21
Agenda Item 1. Approval of the 2012 Annual Report, the Consolidated Financial Statements of Transocean
Page 22
Agenda Item 2. Appropriation of the Available Earnings for Fiscal Year
Page 23
Agenda Item 3. Distribution of a Dividend out of General Legal Reserves From Capital Contribution (by way of a release and allocation of General Legal Reserves From Capital Contribution to Dividend Reserve From Capital Contribution)
Page 24
Page0025
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Page0026
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Page0027
Page 27
Agenda Item 4. Readoption of Authorized Share Capital
Page 28
Page0029
Page 29
Agenda Item 5. Shareholder Proposal to Repeal the Company's Staggered Board
Page 30
Page0031
Page 31
Agenda Item 6. Election and Reelection of Directors
Page 32
Page0033
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Page0034
Page 34
Page0035
Page 35
Page0036
Page 36
Page0037
Page 37
Corporate Governance
Page 38
Page0039
Page 39
Page0040
Page 40
Page0041
Page 41
Page0042
Page 42
Page0043
Page 43
Board Meetings and Committees
Page 44
Page0045
Page 45
Page0046
Page 46
Page0047
Page 47
2012 Director Compensation
Page 48
Page0049
Page 49
Audit Committee Report
Page 50
Security Ownership of Certain Beneficial Owners
Page 51
Page0052
Page 52
Security Ownership of Directors and Executive Officers
Page 53
Page0054
Page 54
Compensation Discussion and Analysis
Page 55
Page0056
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Page0057
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Page0058
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Page0059
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Page0060
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Page0079
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Page0080
Page 80
Executive Compensation Committee Report
Page 81
Executive Compensation
Page 82
Page0083
Page 83
- Grants of Plan-Based Awards for 2012
Page 84
- Outstanding Equity Awards at Year-End 2012
Page 85
- Option Exercises and Shares Vested for 2012
Page 86
Page0087
Page 87
- Nonqualified Deferred Compensation for 2012
Page 88
Page0089
Page 89
- Potential Payments Upon Termination or Change of Control
Page 90
Page0091
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Page0092
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Page0093
Page 93
Page0094
Page 94
Page0095
Page 95
Page0096
Page 96
Equity Compensation Plan Information
Page 97
Agenda Item 7. Appointment of Ernst & Young LLP as the Company's Independent Registered Public Accounting Firm for Fiscal Year 2013 and Reelection of Ernst & Young Ltd, Zurich, as the Company's Auditor Pursuant to the Swiss Code of Obligations for a Further One-Year Term
Page 98
- Audit Committee Pre-Approval of Audit and Non-Audit Services
Page 99
Agenda Item 8. Advisory Vote to Approve Named Executive Officer Compensation
Page 100
Page0101
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Other Matters
Page 102
Page0103
Page 103
Page0104
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Page0105
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Annexes
Page 106
Page0107
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Page0108
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Page0109
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Page0113
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Page0115
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Page0121
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Index
Page 122
Forward-Looking Information
Page 123
1. Business
Page 124
Page0125
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Page0126
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Page0127
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Page0128
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Page0129
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Page0132
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1A. Risk Factors
Page 134
Page0135
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Page0138
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Page0139
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Page0140
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Page0144
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Page0145
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Page0146
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1B. Unresolved Staff Comments
Page 147
3. Legal Proceedings
Page 148
Page0149
Page 149
5. Market for Registrant's Common Equity, Related Shareholder Matters and Issuer Purchases of Equity Securities
Page 150
Page0151
Page 151
Page0152
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6. Selected Financial Data
Page 153
7. Management's Discussion and Analysis of Financial Condition and Results of Operations
Page 154
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7A. Quantitative and Qualitative Disclosures About Market Risk
Page 185
Page0186
Page 186
8. Financial Statements and Supplementary Data
Page 187
- Report of Independent Registered Public Accounting Firm<br>   on Internal Control Over Financial Reporting
Page 188
- Report of Independent Registered Public Accounting Firm
Page 189
- Report of the Statutory Auditor on the Consolidated Financial Statements
Page 190
- Consolidated Statements of Operations
Page 191
- Consolidated Statements of Comprehensive Income (Loss)
Page 192
- Consolidated Balance Sheets
Page 193
- Consolidated Statements of Equity
Page 194
- Consolidated Statements of Cash Flows
Page 195
- Notes to Consolidated Financial Statements
Page 196
Page0197
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Page0200
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Page0260
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9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure
Page 261
10. Directors, Executive Officers and Corporate Governance
Page 262
15. Exhibits and Financial Statement Schedules
Page 263
Schedule II - Valuation and Qualifying Accounts
Page 264
Page0265
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Page0266
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Page0267
Page 267
Page0268
Page 268
Page0269
Page 269
Page0270
Page 270
Signatures
Page 271
Page0272
Page 272
Statutory Financial Statements
Page 273
- Report of the Statutory Auditor on the Financial Statements
Page 274
- Statement of Operations
Page 275
- Balance Sheet
Page 276
- Notes to Statutory Financial Statements
Page 277
Page0278
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Page0279
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Page0280
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Page0281
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Page0287
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Page0288
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Page0289
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Page0290
Page 290
Page0291
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Page0292
Page 292
Audit Confirmation of the Statutory Auditor
Page 293
Page0294
Page 294
Page0295
Page 295
Page0296
Page 296
Corporate Governance Report
Page 297
Page0298
Page 298
Page0299
Page 299
Page0300
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Page0301
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Page0302
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Page0331
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