Company: NE-WTA
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0001628280-25-006184
Chunk: 185

Company: Noble Corp plc
Filing Date: 2025-02-19
Form: 10-K
Item: Item 8
Chunk 185
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27,755)Additions to deferred costs34,187 — Additions to deferred revenue— (108,971)Amortization of deferred costs(19,875)— Amortization of deferred revenue— 55,521 Reclassification to held for sale and subsequent derecognition(8,519)21,408 Total5,793 (32,042)Net balance at December 31, 2022$11,537 $(59,797)Additions to deferred costs19,575 — Additions to deferred revenue— (60,430)Amortization of deferred costs(26,696)— Amortization of deferred revenue— 77,155 Total(7,121)16,725 Net balance at December 31, 2023$4,416 $(43,072)Additions to deferred costs55,323 — Additions to deferred revenue— (134,359)Amortization of deferred costs(22,648)— Amortization of deferred revenue— 75,486 Total32,675 (58,873)Net balance at December 31, 2024$37,091 $(101,945)Contract CostsCertain direct and incremental costs incurred for upfront preparation, initial rig mobilization and modifications are costs of fulfilling a contract and are recoverable. These recoverable costs are deferred and amortized ratably to contract drilling expense as services are rendered over the initial term of the related drilling contract. Certain of our contracts include capital rig enhancements used to satisfy our performance obligations.Future Amortization of Deferred RevenueThe following table reflects revenue expected to be recognized in the future related to deferred revenue, by rig type, at the end of the reporting period:Year Ended December 31,2025202620272028TotalFloaters$54,747 $15,170 $11,522 $5,532 $86,971 Jackups6,759 4,708 3,499 8 14,974 Total$61,506 $19,878 $15,021 $5,540 $101,945 

85

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

The revenue included above consists of expected mobilization, demobilization, and upgrade revenue for unsatisfied performance obligations