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Unaudited Interim Financial Data
12 Months Ended
Dec. 31, 2014
Quarterly Financial Information Disclosure [Abstract]  
Unaudited Interim Financial Data

Note 23- Unaudited Interim Financial Data

Unaudited interim consolidated financial information from continuing operations for Noble-UK for the years ended December 31, 2014 and 2013 is as follows:

 

     Quarter Ended  
     Mar. 31      Jun. 30      Sep. 30      Dec. 31  

2014

           

Operating revenues

   $ 795,187       $ 803,781       $ 828,796       $ 804,740   

Operating income (loss)

     248,968         235,205         243,633         (541,864

Net income (loss) from continuing operations attributable to Noble-UK

     154,814         140,325         147,389         (594,539

Net income (loss) per share from continuning operations attributable to Noble-UK (1)

           

Basic

     0.60         0.54         0.57         (2.38

Diluted

     0.60         0.54         0.57         (2.38

 

     Quarter Ended  
     Mar. 31      Jun. 30      Sep. 30      Dec. 31  

2013

           

Operating revenues

   $ 566,061       $ 606,480       $ 640,513       $ 725,089   

Operating income

     135,437         159,973         239,248         205,879   

Net income from continuing operations attributable to Noble-UK

     66,899         102,406         165,267         144,023   

Net income per share from continuning operations attributable to Noble-UK (1)

           

Basic

     0.26         0.40         0.64         0.56   

Diluted

     0.26         0.40         0.64         0.56   

 

(1) Net income (loss) per share is computed independently for each of the quarters presented. Therefore, the sum of the quarters’ net income (loss) per share may not equal the total computed for the year.

 

The Consolidated Statements of Comprehensive Income included for both Noble-UK and Noble-Cayman in our Quarterly Report on Form 10-Q for the quarter ended September 30, 2014 erroneously included an adjustment related to the Spin-off for the historical accumulated other comprehensive income of Paragon Offshore and omitted the line item “Total comprehensive income”. We concluded these errors were not material individually, or in the aggregate, to either Noble-UK or Noble-Cayman in our Quarterly Report on Form 10-Q for the quarter ended September 30, 2014 and we will revise these numbers accordingly in the Quarterly Report on Form 10-Q for the quarter ended September 30, 2015.

The following chart presents the recast of Noble-UK for the three and nine months ended September 30, 2014 to properly reflect the activity for the respective periods:

 

     Three Months Ended
September 30, 2014
     Nine Months Ended
September 30, 2014
 
     As Reported      As Adjusted      As Reported      As Adjusted  

Net income

   $ 147,646       $ 147,646       $ 678,350       $ 678,350   

Other comprehensive income (loss), net of tax

           

Foreign currency translation adjustments

     (1,577      (1,577      1,143         1,143   

Foreign currency forward contracts

     (6,925      (6,925      (273      (273

Net pension plan loss (net of tax benefit of $386 for both the three and nine months ended September 30, 2014)

     (1,409      (1,409      (1,409      (1,409

Net pension plan curtailment and settlement expense (net of tax provision of $193 for both the three and nine months ended September 30, 2014)

     358         358         358         358   

Amortization of deferred pension plan amounts (net of tax provision of $253 and $732 for the three months ended September 30, 2014 and 2013, respectively, and $758 and $2,192 for the nine months ended September 30, 2014 and 2013, respectively)

     571         571         2,099         2,099   
  

 

 

    

 

 

    

 

 

    

 

 

 

Other comprehensive income (loss), net

  (8,982   (8,982   1,918      1,918   

Spin-off of Paragon Offshore

  34,478      —        34,478      —     
  

 

 

    

 

 

    

 

 

    

 

 

 

Total comprehensive income

  n/a      138,664      n/a      680,268   

Net comprehensive income attributable to noncontrolling interests

  (20,471   (20,471   (60,290   (60,290
  

 

 

    

 

 

    

 

 

    

 

 

 

Comprehensive income attributable to Noble Corporation plc

$ 152,671    $ 118,193    $ 654,456    $ 619,978   
  

 

 

    

 

 

    

 

 

    

 

 

 

 

The following chart presents the recast of Noble-Cayman for the three and nine months ended September 30, 2014 to properly reflect the activity for the respective periods:

 

     Three Months Ended
September 30, 2014
     Nine Months Ended
September 30, 2014
 
     As
Reported
     As
Adjusted
     As
Reported
     As
Adjusted
 

Net income

   $ 193,705       $ 193,705       $ 784,078       $ 784,078   

Other comprehensive income (loss), net of tax

           

Foreign currency translation adjustments

     (1,577      (1,577      1,143         1,143   

Foreign currency forward contracts

     (6,925      (6,925      (273      (273

Net pension plan loss (net of tax benefit of $386 for both the three and nine months ended September 30, 2014)

     (1,409      (1,409      (1,409      (1,409

Net pension plan curtailment and settlement expense (net of tax provision of $193 for both the three and nine months ended September 30, 2014)

     358         358         358         358   

Amortization of deferred pension plan amounts (net of tax provision of $253 and $732 for the three months ended September 30, 2014 and 2013, respectively, and $758 and $2,192 for the nine months ended September 30, 2014 and 2013, respectively)

     571         571         2,099         2,099   
  

 

 

    

 

 

    

 

 

    

 

 

 

Other comprehensive income (loss), net

  (8,982   (8,982   1,918      1,918   

Spin-off of Paragon Offshore

  34,478      —        34,478      —     
  

 

 

    

 

 

    

 

 

    

 

 

 

Total comprehensive income

  n/a      184,723      n/a      785,996   

Net comprehensive income attributable to noncontrolling interests

  (20,471   (20,471   (60,290   (60,290
  

 

 

    

 

 

    

 

 

    

 

 

 

Comprehensive income attributable to Noble Corporation

$ 198,730    $ 164,252    $ 760,184    $ 725,706