Supplemental Financial Information

3 Months Ended

Mar. 31, 2022

Supplemental Financial Information [Abstract]

Supplemental Financial Information

Note 13— Supplemental Financial Information

Condensed Consolidated Balance Sheets Information

Our Noble restricted cash balance as of March 31, 2022 and December 31, 2021 was $2.1 million and $2.6 million, respectively. Our Finco restricted cash balance as of March 31, 2022 and December 31, 2021 was $2.1 million and $2.6 million, respectively. All restricted cash is recorded in “Prepaid expenses and other current assets.”

Condensed Consolidated Statements of Cash Flows Information

Operating cash activities

The net effect of changes in other assets and liabilities on cash flows from operating activities is as follows:

	Noble
	Successor				Predecessor
			Period From		Period From
			February 6, 2021		January 1, 2021
	Three Months Ended		through		through
	March 31, 2022		March 31, 2021		February 5, 2021
Accounts receivable	$	(47,077)	$	10,265	$	(41,344)
Other current assets	(583)		3,566		17,884
Other assets	(3,523)		(8,169)		8,521
Accounts payable	4,135		6,642		(16,819)
Other current liabilities	(14,350)		3,192		11,428
Other liabilities	15,662		1,067		(5,846)
Total net change in assets and liabilities	$	(45,736)	$	16,563	$	(26,176)

	Finco
	Successor				Predecessor
			Period From		Period From
			February 6, 2021		January 1, 2021
	Three Months Ended		through		through
	March 31, 2022		March 31, 2021		February 5, 2021
Accounts receivable	$	(47,077)	$	10,265	$	(41,344)
Other current assets	(4,584)		550		19,398
Other assets	(3,500)		(8,168)		8,512
Accounts payable	456		6,883		(14,061)
Other current liabilities	(14,379)		3,193		11,623
Other liabilities	15,890		1,043		(5,936)
Total net change in assets and liabilities	$	(53,194)	$	13,766	$	(21,808)

Non-cash investing and financing activities

Additions to property and equipment, at cost for which we had accrued a corresponding liability in accounts payable as of March 31, 2022 and December 31, 2021 were $34.2 million and $36.5 million, respectively.

Additions to property and equipment, at cost for which we had accrued a corresponding liability in accounts payable as of March 31, 2021, February 5, 2021 and December 31, 2020 were $38.6 million, $31.0 million and $35.3 million, respectively.

On the Effective Date, an aggregate principal amount of $216.0 million of Second Lien Notes was issued, which includes the aggregate subscription price of $200.0 million, plus a backstop fee of $16.0 million which was paid in kind.

On April 15, 2021, Noble completed the Pacific Drilling Merger, issuing 16.6 million Ordinary Shares valued at $357.7 million, in exchange for $420.0 million net assets acquired. See “Note 2— Acquisitions and Divestitures” for additional information.