Company: NE-WTA
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001628280-25-038188
Chunk: 22

Company: Noble Corp plc
Filing Date: 2025-08-06
Form: 10-Q
Item: Item 1
Chunk 22
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 contracts 

14

NOBLE CORPORATION plc AND SUBSIDIARIESNOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS(Unless otherwise indicated, dollar and share amounts in tables are in thousands, except per share data)

acquired. As of June 2025, these liabilities were fully amortized as an increase to contract drilling services revenue from the closing date of the Business Combination with Maersk Drilling and the Diamond Closing Date, respectively, through the remainder of the contracts.Unfavorable contactsFavorable contractsBalance at December 31, 2024$(8,580)$214 Amortization8,580 (214)Balance at June 30, 2025$— $— Balance at December 31, 2023$(50,863)$10,128 Amortization48,622 (5,772)Balance at June 30, 2024$(2,241)$4,356 

Note 8 — Income TaxesAt June 30, 2025, the Company had deferred tax assets of $297.5 million, net of valuation allowance. Additionally, the Company also had deferred tax liabilities of $5.5 million, inclusive of a valuation allowance of $15.6 million.During the three months ended June 30, 2025, the Company recognized additional discrete deferred tax benefits of $22.3 million related to releases and adjustments of valuation allowance for deferred tax benefits primarily in Luxembourg.During the six months ended June 30, 2025, the Company recognized additional discrete deferred tax benefits of $78.9 million related to releases and adjustments of valuation allowance for deferred tax benefits primarily in Luxembourg.At June 30, 2024, the Company had deferred tax assets of $248.8 million, net of valuation allowance. Additionally, the Company also had deferred tax liabilities of $7.8 million, inclusive of a valuation allowance of $18.5 million.During the three months ended June 30, 2024, the Company recognized additional discrete deferred tax benefits of $63.1 million related to releases and adjustments of valuation allowance for deferred tax benefits in Guyana and Luxembourg.During the six months ended June 30, 2024, the Company recognized additional discrete deferred tax benefits of $81.6 million related to releases and adjustments of valuation allowance for deferred tax benefits in Guyana, Nigeria, Switzerland, and Luxembourg.In deriving the above net