XML 42 R27.htm IDEA: XBRL DOCUMENT v3.23.2
Acquisitions and Divestitures (Tables)
 6 Months Ended
Jun. 30, 2023
Business Combination and Asset Acquisition [Abstract]  
Schedule of Identifiable Assets Acquired and Liabilities Assumed Based on the Fair Values The following table represents the preliminary allocation of the total purchase price of Maersk Drilling to the identifiable assets acquired and the liabilities assumed based on the fair values as of the Closing Date.
Purchase price consideration:
Fair value of Noble shares transferred to legacy Maersk Drilling shareholders$1,793,351 
Cash paid to legacy Maersk Drilling shareholders887 
Fair value of replacement Maersk Drilling RSU Awards attributable to the purchase price6,780 
Deal Completion Bonus6,177 
Fair Value of Compulsory Purchase193,678 
Total purchase price consideration$2,000,873 
Assets acquired:
Cash and cash equivalents$172,205 
Accounts receivable, net250,251 
Taxes receivable20,603 
Prepaid expenses and other current assets (1)
43,168 
Total current assets486,227 
Intangible assets22,991 
Property, plant and equipment, net2,756,096 
Other assets (1)
94,882 
Total assets acquired3,360,196 
Liabilities assumed:
Current maturities of long-term debt129,130 
Accounts payable130,273 
Accrued payroll and related costs (1)
23,884 
Taxes payable38,218 
Interest payable800 
Other current liabilities41,253 
Total current liabilities363,558 
Long-term debt596,692 
Deferred income taxes4,071 
Noncurrent contract liabilities237,703 
Other liabilities (1)
171,925 
Total liabilities assumed1,373,949 
Net assets acquired1,986,247 
Goodwill acquired (1)
14,626 
Purchase price consideration$2,000,873 
(1)During the six months ended June 30, 2023, the Company recorded tax adjustments, which resulted in a net increase to deferred tax assets of $25.2 million, a net increase to reserves for uncertain tax positions of $13.8 million, and a decrease of goodwill of $11.4 million. Other adjustments were made to remeasure certain payroll tax related balances. The effect of the changes to the provisional amounts on the current period statement of operations that would have been recognized in previous periods if the adjustment to provisional amounts had been recognized as of the Closing Date was immaterial.