Company: NE-WTA
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0001628280-25-006184
Chunk: 126

Company: Noble Corp plc
Filing Date: 2025-02-19
Form: 10-K
Item: Item 7
Chunk 126
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,156 $336,542 $120 $— $3,057,818 Operating costs and expenses2,010,731 334,722 108,382 — 2,453,835 Depreciation and amortization379,551 49,075 — — 428,626 Statements of Cash FlowsNet cash provided by (used in) operating activities$792,859 $(39,696)$(97,688)$— $655,475 Capital expenditures(536,658)(38,477)(180)— (575,315)Proceeds from disposal of assets, net(690)10,730 13,257 — 23,297 Dividend payments— — (277,831)— (277,831)

(1)Consolidated Noble Offshore Drilling, Inc. from merger effective date on September 4, 2024.

Critical Accounting Estimates

We prepare our consolidated financial statements in accordance with accounting principles generally accepted in the United States (“US GAAP”), which require us to make estimates that affect the reported amounts of assets, liabilities, revenues, expenses, and related disclosures of contingent assets and liabilities. We base our estimates on historical experience and on various other assumptions that we believe are reasonable under the circumstances, the results of which 

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form the basis for making judgments about the carrying amounts of assets and liabilities that are not readily apparent from other sources. Actual results may differ from our estimates and assumptions and any such differences could be material to our consolidated financial statements. The following accounting policies involve critical accounting estimates because they are particularly dependent on estimates and assumptions made by Noble about matters that are inherently uncertain.

Recoverability of Assets

We evaluate our property and equipment and intangible assets for impairment whenever there are changes in facts that suggest that the value of the asset is not recoverable. An impairment loss is recognized when and to the extent that an asset's carrying value exceeds its estimated fair value. To the extent actual results do not meet our estimated assumptions for a given rig, piece of equipment or intangible customer contract, we may take an impairment loss in the future. In determining the fair value of the assets, we make significant assumptions and estimates regarding future market conditions using significant unobservable inputs representative of a Level 3 fair value measurement. Critical assumptions used in our estimate include projected dayrates, utilization, and discount rate. These projections involve uncertainties that rely on assumptions about current and future market conditions, timing of