Company: NE-WTA
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001628280-25-038188
Chunk: 26

Company: Noble Corp plc
Filing Date: 2025-08-06
Form: 10-Q
Item: Item 1
Chunk 26
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 arrangement.Letters of Credit and Surety BondsAs of June 30, 2025, we had $18.2 million of letters of credit issued under the 2023 Revolving Credit Facility and an additional $140.4 million in letters of credit and surety bonds issued under bilateral arrangements which guarantee our performance as it relates to our drilling contracts, contract bidding, tax appeals, customs duties, and other obligations in various jurisdictions. We expect to comply with the underlying performance requirements and we expect obligations under these letters of credit and surety bonds will not be called.Other ContingenciesWe are a defendant in certain other claims and litigation arising out of operations in the ordinary course of business, including personal injury claims, the resolution of which, in the opinion of management, will not be material to our financial position, results of operations, or cash flows. There is inherent risk in any litigation or dispute and no assurance can be given as to the outcome of these claims.

Note 11 — Supplemental Financial InformationCondensed Consolidated Balance Sheets InformationRestricted cashNoble’s restricted cash balance as of June 30, 2025, and December 31, 2024, was $7.3 million and $5.0 million, respectively. All restricted cash is recorded in “Prepaid expenses and other current assets.”Condensed Consolidated Statements of Cash Flows InformationOperating cash activitiesThe net effect of changes in assets and liabilities on cash flows from operating activities is as follows:Six Months Ended June 30,20252024Accounts receivable$35,236 $(88,190)Taxes receivable1,902 (30,994)Other current assets159,099 (5,096)Other assets31,917 4,825 Accounts payable(31,255)(17,421)Other current liabilities(172,125)(1,145)Other liabilities(18,213)4,229 Total net change in operating assets and liabilities$6,561 $(133,792)

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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)

Non-cash investing and financing activitiesNon-cash investing and financing activities excluded from unaudited Condensed Consolidated Statements of Cash Flows are as follows:Six Months Ended June 30,20252024Accrued capital expenditures at period end