Information about Noble-Cayman (Tables)

12 Months Ended

Dec. 31, 2015

Guarantees [Abstract]

Guarantor Obligations

Noble-Cayman, or one or more wholly-owned subsidiaries of Noble-Cayman, are a co-issuer or full and unconditional guarantor or otherwise obligated as of December 31, 2015 as follows:

	Issuer
Notes	(Co-Issuer(s))	Guarantor(s)
$300 million 3.05% Senior Notes due 2016	NHIL	Noble-Cayman
$300 million 2.50% Senior Notes due 2017	NHIL	Noble-Cayman
$250 million 4.00% Senior Notes due 2018	NHIL	Noble-Cayman
$202 million 7.50% Senior Notes due 2019	NHC	Noble-Cayman
	NDH
	Noble Drilling Services 6 LLC (“NDS6”)
$500 million 4.90% Senior Notes due 2020	NHIL	Noble-Cayman
$400 million 4.625% Senior Notes due 2021	NHIL	Noble-Cayman
$400 million 3.95% Senior Notes due 2022	NHIL	Noble-Cayman
$450 million 5.95% Senior Notes due 2025	NHIL	Noble-Cayman
$400 million 6.20% Senior Notes due 2040	NHIL	Noble-Cayman
$400 million 6.05% Senior Notes due 2041	NHIL	Noble-Cayman
$500 million 5.25% Senior Notes due 2042	NHIL	Noble-Cayman
$400 million 6.95% Senior Notes due 2045	NHIL	Noble-Cayman

Condensed Consolidating Balance Sheet

NOBLE CORPORATION PLC AND SUBSIDIARIES

NOBLE CORPORATION AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(Unless otherwise indicated, dollar amounts in tables are in thousands, except per share data)

The following consolidating financial statements of Noble-Cayman, NHC, NDH, NHIL, NDS6 and all other subsidiaries present investments in both consolidated and unconsolidated affiliates using the equity method of accounting.

												Other
												Non-guarantor
	Noble-											Subsidiaries			Consolidating
	Cayman		NHC		NDH			NHIL		NDS6		of Noble			Adjustments			Total
ASSETS
Current assets
Cash and cash equivalents	$	1,627	$	—	$	2,101		$	—	$	—	$	508,067		$	—		$	511,795
Accounts receivable		—		—		9,381			—		—		489,550			—			498,931
Taxes receivable		—		12,124		27			—		—		43,291			—			55,442
Short-term notes receivable from    affiliates		—		—		119,476			—		—		171,925			(291,401	)		—
Accounts receivable from affiliates		626,305		451,201		128,457			811,785		67,684		3,445,590			(5,531,022	)		—
Prepaid expenses and other current    assets		246		—		1,696			—		—		166,527			—			168,469
Total current assets		628,178		463,325		261,138			811,785		67,684		4,824,950			(5,822,423	)		1,234,637
Property and equipment, at cost		—		—		1,877,520			—		—		12,177,038			—			14,054,558
Accumulated depreciation		—		—		(344,591	)		—		—		(2,227,740	)		—			(2,572,331	)
Property and equipment, net		—		—		1,532,929			—		—		9,949,298			—			11,482,227
Notes receivable from affiliates		3,304,652		—		236,921			1,587,927		5,000		2,435,154			(7,569,654	)		—
Investments in affiliates		5,159,064		2,174,480		3,001,327			9,752,912		7,438,397		—			(27,526,180	)		—
Other assets		5,954		—		7,496			25,944		395		118,869			—			158,658
Total assets	$	9,097,848	$	2,637,805	$	5,039,811		$	12,178,568	$	7,511,476	$	17,328,271		$	(40,918,257	)	$	12,875,522
LIABILITIES AND EQUITY
Current liabilities
Short-term notes payables from    affiliates	$	—	$	171,925	$	—		$	—	$	—	$	119,476		$	(291,401	)	$	—
Current maturities of long-term debt		—		—		—			299,997		—		—			—			299,997
Accounts payable		—		—		10,676			—		—		210,401			—			221,077
Accrued payroll and related costs		—		—		6,584			—		—		74,780			—			81,364
Accounts payable to affiliates		868,046		60,100		2,440,965			96,543		6,426		2,058,942			(5,531,022	)		—
Taxes payable		—		917		—			—		—		87,191			—			88,108
Interest payable		—		—		—			68,549		4,412		—			—			72,961
Other current liabilities		40		—		4,108			—		—		92,183			—			96,331
Total current liabilities		868,086		232,942		2,462,333			465,089		10,838		2,642,973			(5,822,423	)		859,838
Long-term debt		—		—		—			3,987,209		201,695		—			—			4,188,904
Notes payable to affiliates		1,518,363		—		461,379			2,086,480		124,216		3,379,216			(7,569,654	)		—
Deferred income taxes		—		—		1,529			—		—		91,268			—			92,797
Other liabilities		19,929		—		25,312			—		—		274,271			—			319,512
Total liabilities		2,406,378		232,942		2,950,553			6,538,778		336,749		6,387,728			(13,392,077	)		5,461,051
Commitments and contingencies
Total shareholder equity		6,691,470		2,404,863		2,089,258			5,639,790		7,174,727		9,781,284			(27,089,922	)		6,691,470
Noncontrolling interests		—		—		—			—		—		1,159,259			(436,258	)		723,001
Total equity		6,691,470		2,404,863		2,089,258			5,639,790		7,174,727		10,940,543			(27,526,180	)		7,414,471
Total liabilities and equity	$	9,097,848	$	2,637,805	$	5,039,811		$	12,178,568	$	7,511,476	$	17,328,271		$	(40,918,257	)	$	12,875,522

												Other
												Non-guarantor
	Noble-											Subsidiaries			Consolidating
	Cayman		NHC		NDH			NHIL		NDS6		of Noble			Adjustments			Total
ASSETS
Current assets
Cash and cash equivalents	$	5	$	—	$	254		$	—	$	—	$	65,521		$	—		$	65,780
Accounts receivable		—		—		37,655			2,336		—		529,105			—			569,096
Taxes receivable		—		63,373		752			—		—		43,164			—			107,289
Short-term notes receivable from    affiliates		123,449		—		1,077,965			—		333,966		171,925			(1,707,305	)		—
Accounts receivable from affiliates		2,019,319		374,012		192,771			157,164		125,834		4,191,406			(7,060,506	)		—
Prepaid expenses and other current    assets		14,274		—		1,764			—		—		123,631			—			139,669
Total current assets		2,157,047		437,385		1,311,161			159,500		459,800		5,124,752			(8,767,811	)		881,834
Property and equipment, at cost		—		—		2,040,168			—		—		12,364,203			—			14,404,371
Accumulated depreciation		—		—		(278,147	)		—		—		(2,040,073	)		—			(2,318,220	)
Property and equipment, net		—		—		1,762,021			—		—		10,324,130			—			12,086,151
Notes receivable from affiliates		3,304,654		—		236,921			1,980,391		5,000		1,581,429			(7,108,395	)		—
Investments in affiliates		4,567,335		1,318,239		2,921,452			8,266,444		6,290,918		—			(23,364,388	)		—
Other assets		2,908		—		6,212			19,826		517		192,791			—			222,254
Total assets	$	10,031,944	$	1,755,624	$	6,237,767		$	10,426,161	$	6,756,235	$	17,223,102		$	(39,240,594	)	$	13,190,239
LIABILITIES AND EQUITY
Current liabilities
Short-term notes payables from    affiliates	$	—	$	171,925	$	—		$	—	$	371,720	$	1,163,660		$	(1,707,305	)	$	—
Accounts payable		600		—		10,130			—		—		250,282			—			261,012
Accrued payroll and related costs		—		—		7,738			—		—		83,749			—			91,487
Accounts payable to affiliates		606,224		63,602		3,513,705			61,982		16,869		2,798,124			(7,060,506	)		—
Taxes payable		—		—		—			—		—		91,471			—			91,471
Interest payable		499		—		—			57,053		4,412		—			—			61,964
Other current liabilities		15,651		—		13,409			-		-		110,890			—			139,950
Total current liabilities		622,974		235,527		3,544,982			119,035		393,001		4,498,176			(8,767,811	)		645,884
Long-term debt		1,123,495		—		—			3,543,830		201,695		—			—			4,869,020
Notes payable to affiliates		1,769,068		—		598,715			1,169,180		192,216		3,379,216			(7,108,395	)		—
Deferred income taxes		—		—		—			—		—		120,589			—			120,589
Other liabilities		19,929		—		29,093			—		—		286,942			—			335,964
Total liabilities		3,535,466		235,527		4,172,790			4,832,045		786,912		8,284,923			(15,876,206	)		5,971,457
Commitments and contingencies
Total shareholder equity		6,496,478		1,520,097		2,064,977			5,594,116		5,969,323		7,812,656			(22,961,169	)		6,496,478
Noncontrolling interests		—		—		—			—		—		1,125,523			(403,219	)		722,304
Total equity		6,496,478		1,520,097		2,064,977			5,594,116		5,969,323		8,938,179			(23,364,388	)		7,218,782
Total liabilities and equity	$	10,031,944	$	1,755,624	$	6,237,767		$	10,426,161	$	6,756,235	$	17,223,102		$	(39,240,594	)	$	13,190,239

Condensed Consolidating Statement of Income

																Other
																Non-guarantor
	Noble-															Subsidiaries			Consolidating
	Cayman			NHC			NDH			NHIL			NDS6			of Noble			Adjustments			Total
Operating revenues
Contract drilling services	$	—		$	—		$	354,657		$	—		$	—		$	3,325,608		$	(418,655	)	$	3,261,610
Reimbursables		—			—			18,529			—			—			72,113			—			90,642
Revenue from affiliates		—			—			—			—			—			200			—			200
Total operating revenues		—			—			373,186			—			—			3,397,921			(418,655	)		3,352,452
Operating costs and expenses
Contract drilling services		3,611			19,160			395,365			84,005			—			1,142,891			(418,655	)		1,226,377
Reimbursables		—			—			13,686			—			—			56,590			—			70,276
Depreciation and amortization		—			—			77,187			—			—			556,057			—			633,244
General and administrative		1,138			8,683			—			38,167			1			7,446			—			55,435
Loss on impairment		—			—			13			—			—			418,285			—			418,298
Total operating costs and    expenses		4,749			27,843			486,251			122,172			1			2,181,269			(418,655	)		2,403,630
Operating income (loss)		(4,749	)		(27,843	)		(113,065	)		(122,172	)		(1	)		1,216,652			—			948,822
Other income (expense)
Income (loss) of unconsolidated    affiliates		591,297			73,319			190,335			936,429			647,856			—			(2,439,236	)		—
Interest expense, net of amounts    capitalized		(75,925	)		(4,932	)		(12,110	)		(224,894	)		(25,578	)		(68,670	)		198,255			(213,854	)
Interest income and other, net		24,188			4,852			52,026			71,617			5,165			75,071			(198,255	)		34,664
Income before income taxes		534,811			45,396			117,186			660,980			627,442			1,223,053			(2,439,236	)		769,632
Income tax provision		—			(77,929	)		(4,466	)		—			—			(80,225	)		—			(162,620	)
Net Income		534,811			(32,533	)		112,720			660,980			627,442			1,142,828			(2,439,236	)		607,012
Net income attributable to    noncontrolling interests		—			—			—			—			—			(105,240	)		33,039			(72,201	)
Net income attributable to Noble    Corporation		534,811			(32,533	)		112,720			660,980			627,442			1,037,588			(2,406,197	)		534,811
Other comprehensive income, net		6,243			—			—			—			—			6,243			(6,243	)		6,243
Comprehensive income attributable to    Noble Corporation	$	541,054		$	(32,533	)	$	112,720		$	660,980		$	627,442		$	1,043,831		$	(2,412,440	)	$	541,054

																Other
																Non-guarantor
	Noble-															Subsidiaries			Consolidating
	Cayman			NHC			NDH			NHIL			NDS6			of Noble			Adjustments			Total
Operating revenues
Contract drilling services	$	—		$	—		$	327,070		$	—		$	—		$	3,067,195		$	(246,406	)	$	3,147,859
Reimbursables		—			—			6,239			—			—			78,405			—			84,644
Other		—			—			—			—			—			1			—			1
Total operating revenues		—			—			333,309			—			—			3,145,601			(246,406	)		3,232,504
Operating costs and expenses
Contract drilling services		30,885			39,039			120,971			115,909			—			1,447,073			(246,406	)		1,507,471
Reimbursables		—			—			4,687			—			—			61,691			—			66,378
Depreciation and amortization		—			—			65,164			—			—			559,114			—			624,278
General and administrative		2,437			11,376			—			31,620			1			7,560			—			52,994
Loss on impairment		—			—			—			—			—			745,428			—			745,428
Total operating costs and    expenses		33,322			50,415			190,822			147,529			1			2,820,866			(246,406	)		2,996,549
Operating income (loss)		(33,322	)		(50,415	)		142,487			(147,529	)		(1	)		324,735			—			235,955
Other income (expense)
Income (loss) of unconsolidated    affiliates—continuing operations		(2,885,628	)		157,648			(80,080	)		604,419			448,785			—			1,754,856			—
Income (loss) of unconsolidated    affiliates—discontinued operations,    net of tax		223,083			50,565			28,580			170,845			6,240			—			(479,313	)		—
Total income (loss) of unconsolidated    affiliates		(2,662,545	)		208,213			(51,500	)		775,264			455,025			—			1,275,543			—
Interest expense, net of amounts    capitalized		(93,536	)		(3,046	)		(24,974	)		(169,666	)		(33,671	)		(3,148,822	)		3,318,536			(155,179	)
Interest income and other, net		2,913,631			—			249,005			89,449			3,308			64,267			(3,318,536	)		1,124
Income from continuing operations    before income taxes		124,228			154,752			315,018			547,518			424,661			(2,759,820	)		1,275,543			81,900
Income tax provision		—			(68,805	)		(3,574	)		—			(1,546	)		(32,005	)		—			(105,930	)
Net income (loss) from continuing operations		124,228			85,947			311,444			547,518			423,115			(2,791,825	)		1,275,543			(24,030	)
Net income from discontinued operations,    net of tax		—			(18,655	)		6,634			—			—			235,104			—			223,083
Net Income		124,228			67,292			318,078			547,518			423,115			(2,556,721	)		1,275,543			199,053
Net income attributable to    noncontrolling interests		—			—			—			—			—			(98,603	)		23,778			(74,825	)
Net income attributable to Noble    Corporation		124,228			67,292			318,078			547,518			423,115			(2,655,324	)		1,299,321			124,228
Other comprehensive loss, net		(21,732	)		—			—			—			—			(21,732	)		21,732			(21,732	)
Comprehensive income attributable to    Noble Corporation	$	102,496		$	67,292		$	318,078		$	547,518		$	423,115		$	(2,677,056	)	$	1,321,053		$	102,496

																Other
																Non-guarantor
	Noble-															Subsidiaries			Consolidating
	Cayman			NHC			NDH			NHIL			NDS6			of Noble			Adjustments			Total
Operating revenues
Contract drilling services	$	—		$	—		$	240,631		$	—		$	—		$	2,291,475		$	(77,361	)	$	2,454,745
Reimbursables		—			—			8,498			—			—			57,794			—			66,292
Labor contract drilling services		—			—			—			—			—			17,095			—			17,095
Other		—			—			—			—			—			11			—			11
Total operating revenues		—			—			249,129			—			—			2,366,375			(77,361	)		2,538,143
Operating costs and expenses
Contract drilling services		24,039			22,195			70,359			110,138			—			1,009,801			(77,361	)		1,159,171
Reimbursables		—			—			6,850			—			—			43,560			—			50,410
Labor contract drilling services		—			—			—			—			—			11,601			—			11,601
Depreciation and amortization		—			—			62,778			—			—			446,563			—			509,341
General and administrative		7,380			7,396			—			36,050			1			14,032			—			64,859
Loss on impairment		—			—			—			—			—			3,585			—			3,585
Gain on disposal of assets, net		—			—			—			—			—			(35,646	)		—			(35,646	)
Gain on contract    settlements/extinguishments, net		(45,000	)		—			—			—			—			14,382			—			(30,618	)
Total operating costs and    expenses		(13,581	)		29,591			139,987			146,188			1			1,507,878			(77,361	)		1,732,703
Operating income (loss)		13,581			(29,591	)		109,142			(146,188	)		(1	)		858,497			—			805,440
Other income (expense)
Income (loss) of unconsolidated    affiliates—continuing operations		653,815			65,868			(53,235	)		641,155			(1,136,831	)		—			(170,772	)		—
Income (loss) of unconsolidated    affiliates—discontinued operations,    net of tax		321,804			45,098			308,188			431,149			63,235			—			(1,169,474	)		—
Total income (loss) of unconsolidated    affiliates		975,619			110,966			254,953			1,072,304			(1,073,596	)		—			(1,340,246	)		—
Interest expense, net of amounts    capitalized		(127,995	)		(1,081	)		(23,156	)		(139,784	)		(45,897	)		(1,852,423	)		2,084,036			(106,300	)
Interest income and other, net		6,609			—			262,717			154,442			1,569,003			94,821			(2,084,036	)		3,556
Income from continuing operations    before income taxes		867,814			80,294			603,656			940,774			449,509			(899,105	)		(1,340,246	)		702,696
Income tax provision		—			(24,592	)		3,655			—			—			(68,040	)		—			(88,977	)
Net income from continuing operations		867,814			55,702			607,311			940,774			449,509			(967,145	)		(1,340,246	)		613,719
Net income from discontinued operations,    net of tax		—			(16,569	)		24,529			(55	)		—			313,899			—			321,804
Net Income		867,814			39,133			631,840			940,719			449,509			(653,246	)		(1,340,246	)		935,523
Net income attributable to    noncontrolling interests		—			—			—			—			—			(114,314	)		46,605			(67,709	)
Net income attributable to Noble    Corporation		867,814			39,133			631,840			940,719			449,509			(767,560	)		(1,293,641	)		867,814
Other comprehensive income, net		33,285			—			—			—			—			33,285			(33,285	)		33,285
Comprehensive income attributable to    Noble Corporation	$	901,099		$	39,133		$	631,840		$	940,719		$	449,509		$	(734,275	)	$	(1,326,926	)	$	901,099

Condensed Consolidating Statement of Cash Flows

																Other
																Non-guarantor
	Noble-															Subsidiaries			Consolidating
	Cayman			NHC			NDH			NHIL			NDS6			of Noble			Adjustments			Total
Cash flows from operating activities
Net cash from operating activities	$	(31,562	)	$	(53,686	)	$	15,207		$	(267,735	)	$	(20,292	)	$	2,105,575		$	—		$	1,747,507
Cash flows from investing activities
Capital expenditures		—			—			(116,594	)		—			—			(320,557	)		—			(437,151	)
Proceeds from disposal of assets		—			—			—			—			—			4,614			—			4,614
Notes receivable from affiliates		124,951			—			—			608,771			—			—			(733,722	)		—
Net cash from investing activities		124,951			—			(116,594	)		608,771			—			(315,943	)		(733,722	)		(432,537	)
Cash flows from financing activities
Net change in borrowings outstanding    on bank credit facilities		(1,123,495	)		—			—			—			—			—			—			(1,123,495	)
Repayment of long-term debt		—			—			—			(350,000	)		—			—			—			(350,000	)
Issuance of senior notes		—			—			—			1,092,728			—			—			—			1,092,728
Debt issuance costs on senior notes and credit facilities		(6,450	)		—			—			(9,620	)		—			—			—			(16,070	)
Dividends paid to noncontrolling    interests		—			—			—			—			—			(71,504	)		—			(71,504	)
Distributions to parent company, net		(400,614	)		—			—			—			—			—			—			(400,614	)
Advances (to) from affiliates		2,047,563			53,686			103,234			(1,074,144	)		20,292			(1,150,631	)		—			—
Notes payable to affiliates		(608,771	)		—			—			—			—			(124,951	)		733,722			—
Net cash from financing activities		(91,767	)		53,686			103,234			(341,036	)		20,292			(1,347,086	)		733,722			(868,955	)
Net change in cash and cash    equivalents		1,622			—			1,847			—			—			442,546			—			446,015
Cash and cash equivalents, beginning of    period		5			—			254			—			—			65,521			—			65,780
Cash and cash equivalents, end of period	$	1,627		$	—		$	2,101		$	—		$	—		$	508,067		$	—		$	511,795

																Other
																Non-guarantor
	Noble-															Subsidiaries			Consolidating
	Cayman			NHC			NDH			NHIL			NDS6			ofNoble			Adjustments			Total
Cash flows from operating activities
Net cash from operating activities	$	2,825,524		$	(151,987	)	$	366,583		$	(232,605	)	$	(31,788	)	$	(903,811	)	$	—		$	1,871,916
Cash flows from investing activities
Capital expenditures		—			—			(1,404,560	)		—			—			(704,574	)		—			(2,109,134	)
Notes receivable from affiliates		50			—			—			273,744			—			—			(273,794	)		—
Net cash from investing activities		50			—			(1,404,560	)		273,744			—			(704,574	)		(273,794	)		(2,109,134	)
Cash flows from financing activities
Net change in borrowings outstanding    on bank credit facilities		(437,647	)		—			—			—			—			—			—			(437,647	)
Repayment of long-term debt		—			—			—			(250,000	)		—			—			—			(250,000	)
Long-term borrowings of Paragon    Offshore		—			—			—			—			—			1,710,550			—			1,710,550
Financing costs on long-term borrowings of Paragon Offshore		—			—			—			—			—			(14,676	)					(14,676	)
Cash balances of Paragon Offshore in    Spin-Off		—			—			—			—			—			(104,152	)		—			(104,152	)
Dividends paid to noncontrolling    interests		—			—			—			—			—			(79,966	)		—			(79,966	)
Debt issuance costs on senior notes and credit facilities		(398	)		—			—			—			—			—			—			(398	)
Distributions to parent company, net		(631,095	)		—			—			—			—			—			—			(631,095	)
Advances (to) from affiliates		(1,482,686	)		151,987			1,037,829			208,857			31,788			52,225			—			—
Notes payable to affiliates		(273,744	)		—			—			—			—			(50	)		273,794			—
Net cash from financing activities		(2,825,570	)		151,987			1,037,829			(41,143	)		31,788			1,563,931			273,794			192,616
Net change in cash and cash    equivalents		4			—			(148	)		(4	)		—			(44,454	)		—			(44,602	)
Cash and cash equivalents, beginning of    period		1			—			402			4			—			109,975			—			110,382
Cash and cash equivalents, end of period	$	5		$	—		$	254		$	—		$	—		$	65,521		$	—		$	65,780

																Other
																Non-guarantor
	Noble-															Subsidiaries			Consolidating
	Cayman			NHC			NDH			NHIL			NDS6			ofNoble			Adjustments			Total
Cash flows from operating activities
Net cash from operating activities	$	(117,993	)	$	(133,595	)	$	424,147		$	(128,315	)	$	1,523,225		$	201,161		$	—		$	1,768,630
Cash flows from investing activities
Capital expenditures		—			—			(1,594,449	)		—			—			(949,755	)		—			(2,544,204	)
Notes receivable from affiliates		—			—			—			—			—			294,798			(294,798	)		—
Proceeds from disposal of assets		—			—			—			—			—			61,000			—			61,000
Net cash from investing activities		—			—			(1,594,449	)		—			—			(593,957	)		(294,798	)		(2,483,204	)
Cash flows from financing activities
Net change in borrowings    outstanding on bank credit facilities		1,221,333			—			—			—			—			—			—			1,221,333
Repayment of long-term debt		(300,000	)		—			—			—			—			—			—			(300,000	)
Dividends paid to noncontrolling    interests		—			—			—			—			—			(105,388	)		—			(105,388	)
Debt issuance costs on senior notes and credit facilities		(2,484	)		—			—			—			—			—			—			(2,484	)
Distributions to parent company, net		(265,880	)		—			—			—			—			—			—			(265,880	)
Advances (to) from affiliates		(241,180	)		133,595			1,169,800			128,317			(1,523,225	)		332,693			—			—
Notes payable to affiliates		(294,798	)		—			—			—			—			—			294,798			—
Net cash from financing activities		116,991			133,595			1,169,800			128,317			(1,523,225	)		227,305			294,798			547,581
Net change in cash and cash    equivalents		(1,002	)		—			(502	)		2			—			(165,491	)		—			(166,993	)
Cash and cash equivalents, beginning of    period		1,003			—			904			2			—			275,466			—			277,375
Cash and cash equivalents, end of period	$	1		$	—		$	402		$	4		$	—		$	109,975		$	—		$	110,382