Company: NE-WTA
Filing Date: 2025-10-28
Form Type: 10-Q
Source: 0001895262-25-000016
Chunk: 72

Company: Noble Corp plc
Filing Date: 2025-10-28
Form: 10-Q
Item: Item 8
Chunk 72
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,506)Noncurrent deferred revenue(36,013)(40,439)Total deferred revenue$(83,066)$(101,945)Significant changes in the remaining performance obligation contract assets and the contract liabilities balances for the nine months ended September 30, 2025 and 2024, are as follows:Contract AssetsContract LiabilitiesNet balance at December 31, 2024$37,091 $(101,945)Additions to deferred costs33,833 — Additions to deferred revenue— (103,678)Amortization of deferred costs(40,737)— Amortization of deferred revenue— 122,557 Total(6,904)18,879 Net balance at September 30, 2025$30,187 $(83,066)Net balance at December 31, 2023$4,416 $(43,072)Additions to deferred costs43,597 — Additions to deferred revenue— (97,208)Amortization of deferred costs(17,088)— Amortization of deferred revenue— 54,411 Total26,509 (42,797)Net balance at September 30, 2024$30,925 $(85,869)Off-market Customer Contract Assets and LiabilitiesOff-market customer contract assets and liabilities were recognized in connection with the merger, pursuant to a Business Combination Agreement, dated November 10, 2021, as amended, by and among Noble, Noble Finco Limited (n/k/a Noble Corporation plc), Noble Newco Sub Limited, the Drilling Company of 1972 A/S, a Danish public limited liability company (“Maersk Drilling”), and the other parties thereto (the “Business Combination with Maersk Drilling”) and the Diamond Transaction, and are included in “Other assets” and “Noncurrent contract liabilities,” respectively.In connection with the Business Combination with Maersk Drilling, the Company recognized additional fair value adjustments of $23.0 million. As of March 2025, these intangible assets were fully amortized as a reduction of contract drilling services revenue from the closing date of the Business Combination with Maersk Drilling through the remainder of the contracts.In connection with the Business Combination with Maersk Drilling and the Diamond Transaction, the Company recognized fair value adjustments of $237.7 million and $27.7 million, respectively, related to certain unfavorable customer contracts 

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