Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

The components of the net deferred taxes are as follows:


	December 31, 2023		December 31, 2022
Deferred tax assets
United States
Net operating loss carry forwards	$	2,338	$	4,256

Excess of net tax basis over remaining book basis	18,527		18,382
Deferred pension plan amounts	356		1,945
Accrued expenses not currently deductible	6,613		5,017
Other	—		135
Non-United States
Net operating loss carry forwards	1,407,964		1,076,364
Transition attribute	956,187		871,773
Tax credits carryover	15,274		23,820
Excess of net tax basis over remaining book basis	305,840		61,530
Disallowed interest deduction carryforwards	30,982		30,225
Unfavorable contract value	3,081		27,901

Other	1,669		17

Deferred tax assets	2,748,831		2,121,365
Less: valuation allowance	(2,512,571)		(1,985,843)
Net deferred tax assets	$	236,260	$	135,522
Deferred tax liabilities
United States

Favorable contract value	$	—	$	(4,954)
Deferred revenue	(11,423)		(6,777)
Other	(1,809)		(718)
Non-United States
Excess of net book basis over remaining tax basis	(10,137)		(27,166)
Favorable contract value	(1,573)		(1,288)
Other	(4,495)		(5,191)
Deferred tax liabilities	(29,437)		(46,094)
Net deferred tax assets (liabilities)	$	206,823	$	89,428

Income (loss) before income taxes consists of the following:

Income tax provision (benefit) consists of the following:

The following is a reconciliation of our reserve for uncertain tax positions, excluding interest and penalties:


	Successor						Predecessor
					Period From		Period From
					February 6, 2021		January 1, 2021
	Year Ended		Year Ended		through		through
	December 31, 2023		December 31, 2022		December 31, 2021		February 5, 2021
Gross balance at beginning of period	$	132,979	$	63,443	$	37,156	$	37,721
Additions based on tax positions related to current year	25,363		1,296		26,463		1,347
Additions for tax positions of prior years	10,087		69,163		21,465		—
Reductions for tax positions of prior years	(29,113)		(687)		(12,331)		(5)
Expiration of statutes	—		(236)		(9,310)		(1,907)
Tax settlements	(4,382)		—		—		—
Gross balance at end of period	134,934		132,979		63,443		37,156
Related tax benefits	(78)		(384)		(384)		(384)
Net reserve at end of period	$	134,856	$	132,595	$	63,059	$	36,772

The liabilities related to our reserve for uncertain tax positions are comprised of the following:


	December 31, 2023		December 31, 2022
Reserve for uncertain tax positions, excluding interest and penalties	$	134,856	$	132,595
Interest and penalties included in “Other liabilities”	67,455		43,314
Reserve for uncertain tax positions, including interest and penalties	$	202,311	$	175,909

A reconciliation of tax rates outside of the United Kingdom to our Noble effective rate for 2023 is shown below:


	Successor						Predecessor
					Period From		Period From
					February 6, 2021		January 1, 2021
	Year Ended		Year Ended		through		through
	December 31, 2023		December 31, 2022		December 31, 2021		February 5, 2021
Effect of:
Tax rates which are different than the Cayman Islands (Successor) and UK (Predecessor) rates	37.6	%	34.9	%	22.6	%	0.5	%
Tax impact of asset impairment and disposition	—	%	—	%	—	%	—	%
Tax impact of restructuring	—	%	—	%	—	%	1.0	%
Tax impact of the tax regulation change	—	%	—	%	—	%	—	%
Tax impact of valuation allowance	(36.1)	%	(22.0)	%	(25.2)	%	—	%
Resolution of (reserve for) tax authority audits	4.4	%	(1.1)	%	2.9	%	(0.2)	%
Total	5.9	%	11.8	%	0.3	%	1.3	%