Company: NE-WTA
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001628280-25-038188
Chunk: 24

Company: Noble Corp plc
Filing Date: 2025-08-06
Form: 10-Q
Item: Item 1
Chunk 24
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 States.On July 4, 2025, the “One Big Beautiful Bill Act” (the “OBBBA”) was signed into law. The legislation includes significant changes to the US tax code affecting both current and deferred income taxes. Key provisions include the reinstatement of 100% bonus depreciation, modifications to the Section 163(j) interest deduction limitation, and other changes to US taxation of profits derived from foreign operations. The Company is currently evaluating the impact of the OBBBA on its income tax provision, including the potential remeasurement of deferred tax assets and liabilities.

Note 9 — Employee Benefit PlansPension costs (gain) include the following components:Three Months Ended June 30,20252024Non-USUSNon-USUSInterest cost$580 $2,260 $518 $2,187 Return on plan assets(501)(2,147)(567)(2,310)Recognized net actuarial (gain) loss56 (11)25 — Net pension benefit cost (gain)$135 $102 $(24)$(123)Six Months Ended June 30,20252024Non-USUSNon-USUSInterest cost$1,126 $4,519 1,034 4,375 Return on plan assets(974)(4,293)(1,131)(4,621)Recognized net actuarial (gain) loss108 (22)49 — Net pension benefit cost (gain)$260 $204 $(48)$(246)During the three and six months ended June 30, 2025 and 2024, we made no contributions to our pension plans. Effective December 31, 2016, employees and alternate payees accrue no future benefits under the US plans and, as such, Noble recognized no service costs with the plans for the three and six months ended June 30, 2025 and 2024.

Note 10 — Commitments and ContingenciesTax MattersAudit claims of approximately $357.3 million at June 30, 2025, attributable to income and other business taxes remain outstanding and are under continued objection by Noble. Such audit claims are mostly attributable to Brazil. 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