2.2.0.25falsefalse0502 - Disclosure - Acquisition of FDR Holdings Limited (Tables)truefalsefalse1falsefalseUSDfalsefalse1/1/2010 - 12/31/2010
USD ($)
USD ($) / shares
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<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" -->
<!-- Begin Block Tagged Note Table: NE-20101231_note2_table1 - ne:AssetsAcquiredAndLiabilitiesAssumedRecognizedOnAcquisitionDateTextBlock-->
<div align="justify" style="font-size: 10pt; font-family: 'Times New Roman',Times,serif">
<div align="justify" style="font-size: 10pt; margin-top: 10pt; text-indent: 8%">The following table summarizes our allocation of the purchase price to the estimated fair
values of the assets acquired and liabilities assumed on the acquisition date of July 28, 2010:
</div>
<div align="center">
<table style="font-size: 10pt; text-align: left" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<tr valign="bottom">
<td width="86%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="9%"> </td>
<td width="1%"> </td>
</tr>
<tr style="font-size: 10pt" valign="bottom">
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">Fair value</td>
<td> </td>
</tr>
<!-- End Table Head -->
<!-- Begin Table Body -->
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:15px; text-indent:-15px">ASSETS
</div></td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:30px; text-indent:-15px">Cash and cash equivalents
</div></td>
<td> </td>
<td align="left">$</td>
<td align="right">77,375</td>
<td> </td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:30px; text-indent:-15px">Accounts receivable, net of $2,111 reserve
</div></td>
<td> </td>
<td> </td>
<td align="right">51,541</td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:30px; text-indent:-15px">Other current assets
</div></td>
<td> </td>
<td> </td>
<td align="right">11,296</td>
<td> </td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:30px; text-indent:-15px">Other assets
</div></td>
<td> </td>
<td> </td>
<td align="right">11,469</td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:30px; text-indent:-15px">Drilling equipment
</div></td>
<td> </td>
<td> </td>
<td align="right">2,527,148</td>
<td> </td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:30px; text-indent:-15px">Value of in-place contracts
</div></td>
<td> </td>
<td> </td>
<td align="right">77,260</td>
<td> </td>
</tr>
<tr style="font-size: 1px">
<td>
<div style="margin-left:30px; text-indent:-15px"> 
</div></td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">Total assets acquired
</div></td>
<td> </td>
<td align="left">$</td>
<td align="right">2,756,089</td>
<td> </td>
</tr>
<tr style="font-size: 1px">
<td>
<div style="margin-left:15px; text-indent:-15px"> 
</div></td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
</tr>
<tr valign="bottom"><!-- Blank Space -->
<td>
<div style="margin-left:15px; text-indent:-15px"> 
</div></td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:15px; text-indent:-15px">LIABILITIES
</div></td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:30px; text-indent:-15px">Accounts payable
</div></td>
<td> </td>
<td align="left">$</td>
<td align="right">81,767</td>
<td> </td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:30px; text-indent:-15px">Other current liabilities
</div></td>
<td> </td>
<td> </td>
<td align="right">32,860</td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:30px; text-indent:-15px">Consolidated joint ventures credit facilities
</div></td>
<td> </td>
<td> </td>
<td align="right">688,748</td>
<td> </td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:30px; text-indent:-15px">Other liabilities
</div></td>
<td> </td>
<td> </td>
<td align="right">36,824</td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:30px; text-indent:-15px">Non-controlling interests
</div></td>
<td> </td>
<td> </td>
<td align="right">124,628</td>
<td> </td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:30px; text-indent:-15px">Value of in-place contracts
</div></td>
<td> </td>
<td> </td>
<td align="right">84,243</td>
<td> </td>
</tr>
<tr style="font-size: 1px">
<td>
<div style="margin-left:30px; text-indent:-15px"> 
</div></td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">Total liabilities assumed
</div></td>
<td> </td>
<td> </td>
<td align="right">1,049,070</td>
<td> </td>
</tr>
<tr style="font-size: 1px">
<td>
<div style="margin-left:15px; text-indent:-15px"> 
</div></td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:15px; text-indent:-15px">Cash consideration paid
</div></td>
<td> </td>
<td align="left">$</td>
<td align="right">1,707,019</td>
<td> </td>
</tr>
<tr style="font-size: 1px">
<td>
<div style="margin-left:15px; text-indent:-15px"> 
</div></td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td>
<td> </td>
</tr>
<!-- End Table Body -->
</table>
</div>
</div>
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<!-- Begin Block Tagged Note Table: NE-20101231_note2_table2 - us-gaap:BusinessAcquisitionProFormaInformationTextBlock-->
<div align="center" style="font-size: 10pt; font-family: 'Times New Roman',Times,serif">
<div align="justify" style="font-size: 10pt; margin-top: 10pt; text-indent: 8%">The following unaudited pro forma financial information for the year ended December 31, 2010
and 2009, gives effect to the Frontier acquisition as if it had occurred at the beginning of the
periods presented. The pro forma financial information for the year ended December 31, 2010
includes pro forma results for the period prior to the closing date of July 28, 2010 and actual
results for the period from July 28, 2010 through December 31, 2010. The pro forma results are
based on historical data and are not intended to be indicative of the results of future operations.
</div>
<div align="center">
<table style="font-size: 10pt; text-align: left" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<tr valign="bottom">
<td width="72%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="9%"> </td>
<td width="1%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="9%"> </td>
<td width="1%"> </td>
</tr>
<tr style="font-size: 10pt" valign="bottom">
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000"><b>2010</b></td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000"><b>2009</b></td>
<td> </td>
</tr>
<!-- End Table Head -->
<!-- Begin Table Body -->
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:15px; text-indent:-15px">Total operating revenues
</div></td>
<td> </td>
<td align="left">$</td>
<td align="right">2,985,439</td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">3,965,457</td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">Net income to Noble Corporation
</div></td>
<td> </td>
<td> </td>
<td align="right">716,875</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">1,674,722</td>
<td> </td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:15px; text-indent:-15px">Net income per share (Diluted)
</div></td>
<td> </td>
<td align="left">$</td>
<td align="right">2.80</td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">6.40</td>
<td> </td>
</tr>
<!-- End Table Body -->
</table>
</div>
</div>
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13Acquisition of FDR Holdings Limited (Tables)UnKnownUnKnownUnKnownUnKnownfalsetrue