Company: NE-WTA
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0001628280-25-006184
Chunk: 203

Company: Noble Corp plc
Filing Date: 2025-02-19
Form: 10-K
Item: Item 8
Chunk 203
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 otherwise indicated, dollar and share amounts in tables are in thousands) 

In 2005, we enacted a profit sharing plan, the Noble Services Company LLC Profit Sharing Plan, which covers eligible employees, as defined in the plan. Participants in the plan become fully vested in the plan after one year of service. On January 1, 2019, the 401(k) savings plan and the profit sharing plan were merged into the Noble Drilling Services LLC 401(k) and Profit Sharing Plan. Effective January 1, 2025, the profit-sharing plan was removed and there will be no future profit-sharing contributions made into the plan. We sponsor other retirement, health, and welfare plans, a 401(k) savings plan, and international savings plans for the benefit of our employees. The contributions to these plans aggregated approximately $32.0 million, $34.0 million, and $34.2 million for the years ended December 31, 2024, 2023, and 2022, respectively.Profit sharing contributions were discretionary, required Board of Directors approval, and were made in the form of cash. No contributions were made for the years ended December 31, 2024, 2023, and 2022, respectively.

Note 12 — Commitments and ContingenciesTax MattersAudit claims of approximately $359.3 million at December 31, 2024, attributable to income and other business taxes remain outstanding and are under continued objection by Noble. Such audit claims are mostly attributable to Brazil, Egypt, Ghana, and Guyana. This remains under continued monitoring and evaluation on a quarterly basis as facts change and as audits and/or litigation continue to progress. We intend to vigorously defend our reported positions and currently believe the ultimate resolution of the audit claims will not have a material adverse effect on our consolidated financial statements.We operate in numerous countries throughout the world and our tax returns filed in those jurisdictions are subject to review and examination by tax authorities within those jurisdictions. We recognize uncertain tax positions that we believe have a greater than 50% likelihood of being sustained upon challenge by a tax authority. We cannot predict or provide assurance as to the ultimate outcome of any existing or future assessments.Hurricane Ida Personal Injury ClaimsIn preparation for Hurricane Ida in the United States Gulf of America, also known as the United States Gulf of Mexico ( the “US Gulf”), in August 2021, the Noble Globetrotter II successfully secured the well it was drilling and detached from the blowout preventer without