Company: NE-WTA
Filing Date: 2025-10-28
Form Type: 10-Q
Source: 0001895262-25-000016
Chunk: 121

Company: Noble Corp plc
Filing Date: 2025-10-28
Form: 10-Q
Item: Item 2
Chunk 121
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, fuel, and other costs across the fleet.

Depreciation and amortization. Depreciation and amortization totaled $437.5 million and $287.3 million during the nine months ended September 30, 2025 and 2024, respectively. Depreciation and amortization increased by $150.1 million in the current period primarily due to the Diamond Transaction.

General and administrative. General and administrative expenses totaled $103.5 million and $109.2 million during the nine months ended September 30, 2025 and 2024, respectively. The decrease was primarily due to individually insignificant items within certain corporate charges such as professional fees, corporate leases, and employee-related costs.

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Merger and integration costs. Noble incurred $22.4 million and $89.2 million of merger and integration costs during the nine months ended September 30, 2025 and 2024, respectively. In the current period, costs incurred directly related primarily to the Diamond Transaction. In the prior period, $69.4 million and $19.8 million of costs incurred related directly to the Diamond Transaction and to the Business Combination with Maersk Drilling. In both periods, such costs related primarily to professional fees and certain integration-related activities.

(Gain) loss on sale of operating assets, net. During the nine months ended September 30, 2025, we sold the Noble Highlander, Pacific Meltem, and Pacific Scirocco, resulting in a pre-tax gain of $11.0 million. During the nine months ended September 30, 2024, we sold the Noble Explorer, resulting in a pre-tax gain of $17.4 million.

Loss on impairment. During the nine months ended September 30, 2025, we recorded a loss on impairment of $60.7 million to reduce the carrying values of the Noble Globetrotter II and Noble Reacher to their estimated fair value less costs to sell. There were no impairments recorded during the nine months ended September 30, 2024. For additional information, see “Note 5 — Property and Equipment” to our unaudited condensed consolidated financial statements.

Other Income and Expenses 

Interest expense, net of amounts capitalized. Interest expense totaled $121.0 million and $54.5 million during the nine months ended September 30, 2025 and 2024, respectively. Interest expense increased as a result of the Diamond Transaction and primarily relates to our 2030 Notes