Property and Equipment

3 Months Ended

Mar. 31, 2020

Property, Plant and Equipment [Abstract]

Property and Equipment

Note 5— Property and Equipment

Property and equipment, at cost consisted of the following:

	March 31, 2020		December 31, 2019
Drilling equipment and facilities	$	8,422,110	$	10,014,314
Construction in progress	68,504		88,904
Other	202,223		203,407
Property and equipment, at cost	$	8,692,837	$	10,306,625

On February 28, 2019, we purchased a new GustoMSC CJ46 rig, the Noble Joe Knight, from the PaxOcean Group in connection with a concurrently awarded drilling contract in the Middle East region. We paid $83.8 million for the rig, with $30.2 million paid in cash and the remaining $53.6 million of the purchase price financed with a loan by the seller. See “Note 6— Debt” for additional information.

During the three months ended March 31, 2020, we recognized a non-cash loss on impairment of $1.1 billion, related to our long-lived assets. During the three months ended March 31, 2019, we recognized no impairment charges to long-lived assets. See “Note 9— Loss on Impairment” for additional information.