Property and Equipment

12 Months Ended

Dec. 31, 2014

Property, Plant and Equipment [Abstract]

Note 7- Property and Equipment

Property and equipment, at cost, as of December 31, 2014 and 2013 for Noble-UK consisted of the following:


	2014		2013
Drilling equipment and facilities	$	13,254,240	$	17,130,986
Construction in progress		969,985		1,854,434
Other		218,697		213,347

Property and equipment, at cost	$	14,442,922	$	19,198,767

Capital expenditures, including capitalized interest, totaled $2.1 billion, $2.5 billion and $1.7 billion for the years ended December 31, 2014, 2013 and 2012, respectively. Capitalized interest was $47 million, $115 million and $136 million for the years ended December 31, 2014, 2013 and 2012, respectively.

Capital expenditures related to Paragon Offshore for the years ended December 31, 2014, 2013 and 2012 totaled $150 million, $359 million and $525 million, respectively. Additionally, a portion of our property and equipment at December 31, 2013 was related to Paragon Offshore. Depreciation expense for Paragon Offshore that was classified as discontinued operations totaled $236 million, $368 million and $318 million for the years ended December 31, 2014, 2013 and 2012, respectively.

- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

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