Information about Noble-Cayman (Tables)

12 Months Ended

Dec. 31, 2014

Guarantees [Abstract]

Guarantor Obligations

Noble-Cayman, or one or more wholly-owned subsidiaries of Noble-Cayman, are a co-issuer or full and unconditional guarantor or otherwise obligated as of December 31, 2014 as follows:

	Issuer
Notes	(Co-Issuer(s))	Guarantor(s)
$350 million 3.45% Senior Notes due 2015	NHIL	Noble-Cayman
$300 million 3.05% Senior Notes due 2016	NHIL	Noble-Cayman
$300 million 2.50% Senior Notes due 2017	NHIL	Noble-Cayman
$202 million 7.50% Senior Notes due 2019	NHC	Noble-Cayman;
	NDH
	Noble Drilling Services 6 LLC (“NDS6”)
$500 million 4.90% Senior Notes due 2020	NHIL	Noble-Cayman
$400 million 4.625% Senior Notes due 2021	NHIL	Noble-Cayman
$400 million 3.95% Senior Notes due 2022	NHIL	Noble-Cayman
$400 million 6.20% Senior Notes due 2040	NHIL	Noble-Cayman
$400 million 6.05% Senior Notes due 2041	NHIL	Noble-Cayman
$500 million 5.25% Senior Notes due 2042	NHIL	Noble-Cayman

Condensed Financial Statements

NOBLE CORPORATION AND SUBSIDIARIES

CONDENSED CONSOLIDATING BALANCE SHEET

December 31, 2014

(in thousands)

												Other
												Non-guarantor
	Noble-											Subsidiaries			Consolidating
	Cayman		NHC		NDH			NHIL		NDS6		of Noble			Adjustments			Total
ASSETS
Current assets
Cash and cash equivalents	$	5	$	—	$	254		$	—	$	—	$	65,521		$	—		$	65,780
Accounts receivable		—		—		37,655			2,336		—		529,105			—			569,096
Taxes receivable		—		63,373		752			—		—		43,164			—			107,289
Short-term notes receivable from affiliates		123,449		—		1,077,965			—		333,966		171,925			(1,707,305	)		—
Accounts receivable from affiliates		2,019,319		374,012		192,771			157,164		125,834		4,191,406			(7,060,506	)		—
Prepaid expenses and other current assets		14,274		—		1,764			—		—		123,631			—			139,669
Total current assets		2,157,047		437,385		1,311,161			159,500		459,800		5,124,752			(8,767,811	)		881,834
Property and equipment, at cost		—		—		2,040,168			—		—		12,364,203			—			14,404,371
Accumulated depreciation		—		—		(278,147	)		—		—		(2,040,073	)		—			(2,318,220	)
Property and equipment, net		—		—		1,762,021			—		—		10,324,130			—			12,086,151
Notes receivable from affiliates		3,304,654		—		236,921			1,980,391		5,000		1,581,429			(7,108,395	)		—
Investments in affiliates		4,567,335		1,318,239		2,921,452			8,266,444		6,290,918		—			(23,364,388	)		—
Other assets		2,908		—		6,212			19,826		517		192,791			—			222,254
Total assets	$	10,031,944	$	1,755,624	$	6,237,767		$	10,426,161	$	6,756,235	$	17,223,102		$	(39,240,594	)	$	13,190,239
LIABILITIES AND EQUITY
Current liabilities
Short-term notes payables from affiliates	$	—	$	171,925	$	—		$	—	$	371,720	$	1,163,660		$	(1,707,305	)	$	—
Accounts payable		600		—		10,130			—		—		250,282			—			261,012
Accrued payroll and related costs		—		—		7,738			—		—		83,749			—			91,487
Accounts payable to affiliates		606,224		63,602		3,513,705			61,982		16,869		2,798,124			(7,060,506	)		—
Taxes payable		—		—		—			—		—		91,471			—			91,471
Other current liabilities		16,150		—		13,409			57,053		4,412		110,890			—			201,914
Total current liabilities		622,974		235,527		3,544,982			119,035		393,001		4,498,176			(8,767,811	)		645,884
Long-term debt		1,123,495		—		—			3,543,830		201,695		—			—			4,869,020
Notes payable to affiliates		1,769,068		—		598,715			1,169,180		192,216		3,379,216			(7,108,395	)		—
Deferred income taxes		—		—		—			—		—		120,589			—			120,589
Other liabilities		19,929		—		29,093			—		—		286,942			—			335,964
Total liabilities		3,535,466		235,527		4,172,790			4,832,045		786,912		8,284,923			(15,876,206	)		5,971,457
Commitments and contingencies
Total shareholder equity		6,496,478		1,520,097		2,064,977			5,594,116		5,969,323		7,812,656			(22,961,169	)		6,496,478
Noncontrolling interests		—		—		—			—		—		1,125,523			(403,219	)		722,304
Total equity		6,496,478		1,520,097		2,064,977			5,594,116		5,969,323		8,938,179			(23,364,388	)		7,218,782
Total liabilities and equity	$	10,031,944	$	1,755,624	$	6,237,767		$	10,426,161	$	6,756,235	$	17,223,102		$	(39,240,594	)	$	13,190,239

NOBLE CORPORATION AND SUBSIDIARIES

CONDENSED CONSOLIDATING BALANCE SHEET

December 31, 2013

(in thousands)

												Other
												Non-guarantor
	Noble-											Subsidiaries			Consolidating
	Cayman		NHC		NDH			NHIL		NDS6		of Noble			Adjustments			Total
ASSETS
Current assets
Cash and cash equivalents	$	1	$	—	$	402		$	4	$	—	$	109,975		$	—		$	110,382
Accounts receivable		—		—		34,038			—		—		915,031			—			949,069
Taxes receivable		—		52,307		—			—		—		87,722			—			140,029
Short-term notes receivable from affiliates		—		—		1,456,245			139,195		19,500		52,611			(1,667,551	)		—
Accounts receivable from affiliates		1,244,019		—		108,208			210,868		27,537		6,010,430			(7,601,062	)		—
Prepaid expenses and other current assets		—		—		6,336			—		—		178,012			—			184,348
Total current assets		1,244,020		52,307		1,605,229			350,067		47,037		7,353,781			(9,268,613	)		1,383,828
Property and equipment, at cost		—		—		2,340,216			—		—		16,820,134			—			19,160,350
Accumulated depreciation		—		—		(310,171	)		—		—		(4,321,507	)		—			(4,631,678	)
Property and equipment, net		—		—		2,030,045			—		—		12,498,627			—			14,528,672
Notes receivable from affiliates		3,304,753		—		124,216			2,367,555		5,000		1,390,500			(7,192,024	)		—
Investments in affiliates		8,601,712		2,907,379		6,595,591			9,456,735		5,440,004		—			(33,001,421	)		—
Other assets		6,256		—		6,332			22,681		639		233,106			—			269,014
Total assets	$	13,156,741	$	2,959,686	$	10,361,413		$	12,197,038	$	5,492,680	$	21,476,014		$	(49,462,058	)	$	16,181,514
LIABILITIES AND EQUITY
Current liabilities
Short-term notes payables from affiliates	$	—	$	52,611	$	139,195		$	—	$	750,000	$	725,745		$	(1,667,551	)	$	—
Accounts payable		—		—		5,310			—		—		340,600			—			345,910
Accrued payroll and related costs		—		—		8,582			—		—		134,764			—			143,346
Accounts payable to affiliates		1,104,410		653,049		4,032,776			216,866		21,173		1,572,788			(7,601,062	)		—
Taxes payable		—		—		827			—		—		119,761			—			120,588
Other current liabilities		412		—		22,106			62,431		4,412		210,811			—			300,172
Total current liabilities		1,104,822		705,660		4,208,796			279,297		775,585		3,104,469			(9,268,613	)		910,016
Long-term debt		1,561,141		—		—			3,793,414		201,696		—			—			5,556,251
Notes payable to affiliates		2,042,808		—		534,683			975,000		260,216		3,379,317			(7,192,024	)		—
Deferred income taxes		—		—		—			—		—		225,455			—			225,455
Other liabilities		19,931		—		24,502			—		—		289,875			—			334,308
Total liabilities		4,728,702		705,660		4,767,981			5,047,711		1,237,497		6,999,116			(16,460,637	)		7,026,030
Commitments and contingencies
Total shareholder equity		8,428,039		2,254,026		5,593,432			7,149,327		4,255,183		13,238,656			(32,490,624	)		8,428,039
Noncontrolling interests		—		—		—			—		—		1,238,242			(510,797	)		727,445
Total equity		8,428,039		2,254,026		5,593,432			7,149,327		4,255,183		14,476,898			(33,001,421	)		9,155,484
Total liabilities and equity	$	13,156,741	$	2,959,686	$	10,361,413		$	12,197,038	$	5,492,680	$	21,476,014		$	(49,462,058	)	$	16,181,514

NOBLE CORPORATION AND SUBSIDIARIES

CONDENSED CONSOLIDATING STATEMENT OF INCOME

Year Ended December 31, 2014

(in thousands)

																Other
																Non-guarantor
	Noble-															Subsidiaries			Consolidating
	Cayman			NHC			NDH			NHIL			NDS6			of Noble			Adjustments			Total
Operating revenues
Contract drilling services	$	—		$	—		$	327,070		$	—		$	—		$	3,067,195		$	(246,406	)	$	3,147,859
Reimbursables		—			—			6,239			—			—			78,405			—			84,644
Other		—			—			—			—			—			1			—			1
Total operating revenues		—			—			333,309			—			—			3,145,601			(246,406	)		3,232,504
Operating costs and expenses
Contract drilling services		30,885			39,039			120,971			115,909			—			1,447,073			(246,406	)		1,507,471
Reimbursables		—			—			4,687			—			—			61,691			—			66,378
Depreciation and amortization		—			—			65,164			—			—			559,114			—			624,278
General and administrative		2,437			11,376			—			31,620			1			7,560			—			52,994
Loss on impairment		—			—			—			—			—			745,428			—			745,428
Total operating costs and expenses		33,322			50,415			190,822			147,529			1			2,820,866			(246,406	)		2,996,549
Operating income (loss)		(33,322	)		(50,415	)		142,487			(147,529	)		(1	)		324,735			—			235,955
Other income (expense)
Income (loss) of unconsolidated affiliates—continuing operations		(2,885,628	)		157,648			(80,080	)		604,419			448,785			—			1,754,856			—
Income (loss) of unconsolidated affiliates—discontinued operations, net of tax		223,083			50,565			28,580			170,845			6,240			—			(479,313	)		—
Total income (loss) of unconsolidated affiliates		(2,662,545	)		208,213			(51,500	)		775,264			455,025			—			1,275,543			—
Interest expense, net of amounts capitalized		(93,536	)		(3,046	)		(24,974	)		(169,666	)		(33,671	)		(3,148,822	)		3,318,536			(155,179	)
Interest income and other, net		2,913,631			—			249,005			89,449			3,308			64,267			(3,318,536	)		1,124
Income from continuing operations before income taxes		124,228			154,752			315,018			547,518			424,661			(2,759,820	)		1,275,543			81,900
Income tax provision		—			(68,805	)		(3,574	)		—			(1,546	)		(32,005	)		—			(105,930	)
Net income from continuing operations		124,228			85,947			311,444			547,518			423,115			(2,791,825	)		1,275,543			(24,030	)
Net income from discontinued operations, net of tax		—			(18,655	)		6,634			—			—			235,104			—			223,083
Net Income		124,228			67,292			318,078			547,518			423,115			(2,556,721	)		1,275,543			199,053
Net income attributable to noncontrolling interests		—			—			—			—			—			(98,603	)		23,778			(74,825	)
Net income attributable to Noble Corporation		124,228			67,292			318,078			547,518			423,115			(2,655,324	)		1,299,321			124,228
Other comprehensive loss, net		(21,732	)		—			—			—			—			(21,732	)		21,732			(21,732	)
Comprehensive income attributable to Noble Corporation	$	102,496		$	67,292		$	318,078		$	547,518		$	423,115		$	(2,677,056	)	$	1,321,053		$	102,496

NOBLE CORPORATION AND SUBSIDIARIES

CONDENSED CONSOLIDATING STATEMENT OF INCOME

Year Ended December 31, 2013

(in thousands)

																Other
																Non-guarantor
	Noble-															Subsidiaries			Consolidating
	Cayman			NHC			NDH			NHIL			NDS6			of Noble			Adjustments			Total
Operating revenues
Contract drilling services	$	—		$	—		$	240,631		$	—		$	—		$	2,291,475		$	(77,361	)	$	2,454,745
Reimbursables		—			—			8,498			—			—			57,794			—			66,292
Labor contract drilling services		—			—			—			—			—			17,095			—			17,095
Other		—			—			—			—			—			11			—			11
Total operating revenues		—			—			249,129			—			—			2,366,375			(77,361	)		2,538,143
Operating costs and expenses
Contract drilling services		24,039			22,195			70,359			110,138			—			1,009,801			(77,361	)		1,159,171
Reimbursables		—			—			6,850			—			—			43,560			—			50,410
Labor contract drilling services		—			—			—			—			—			11,601			—			11,601
Depreciation and amortization		—			—			62,778			—			—			446,563			—			509,341
General and administrative		7,380			7,396			—			36,050			1			14,032			—			64,859
Loss on impairment		—			—			—			—			—			3,585			—			3,585
Gain on disposal of assets, net		—			—			—			—			—			(35,646	)		—			(35,646	)
Gain on contract settlements/extinguishments, net		(45,000	)		—			—			—			—			14,382			—			(30,618	)
Total operating costs and expenses		(13,581	)		29,591			139,987			146,188			1			1,507,878			(77,361	)		1,732,703
Operating income (loss)		13,581			(29,591	)		109,142			(146,188	)		(1	)		858,497			—			805,440
Other income (expense)
Income (loss) of unconsolidated affiliates—continuing operations		653,815			65,868			(53,235	)		641,155			(1,136,831	)		—			(170,772	)		—
Income (loss) of unconsolidated affiliates—discontinued operations, net of tax		321,804			45,098			308,188			431,149			63,235			—			(1,169,474	)		—
Total income (loss) of unconsolidated affiliates		975,619			110,966			254,953			1,072,304			(1,073,596	)		—			(1,340,246	)		—
Interest expense, net of amounts capitalized		(127,995	)		(1,081	)		(23,156	)		(139,784	)		(45,897	)		(1,852,423	)		2,084,036			(106,300	)
Interest income and other, net		6,609			—			262,717			154,442			1,569,003			94,821			(2,084,036	)		3,556
Income from continuing operations before income taxes		867,814			80,294			603,656			940,774			449,509			(899,105	)		(1,340,246	)		702,696
Income tax provision		—			(24,592	)		3,655			—			—			(68,040	)		—			(88,977	)
Net income from continuing operations		867,814			55,702			607,311			940,774			449,509			(967,145	)		(1,340,246	)		613,719
Net income from discontinued operations, net of tax		—			(16,569	)		24,529			(55	)		—			313,899			—			321,804
Net Income		867,814			39,133			631,840			940,719			449,509			(653,246	)		(1,340,246	)		935,523
Net income attributable to noncontrolling interests		—			—			—			—			—			(114,314	)		46,605			(67,709	)
Net income attributable to Noble Corporation		867,814			39,133			631,840			940,719			449,509			(767,560	)		(1,293,641	)		867,814
Other comprehensive income, net		33,285			—			—			—			—			33,285			(33,285	)		33,285
Comprehensive income attributable to Noble Corporation	$	901,099		$	39,133		$	631,840		$	940,719		$	449,509		$	(734,275	)	$	(1,326,926	)	$	901,099

NOBLE CORPORATION AND SUBSIDIARIES

CONDENSED CONSOLIDATING STATEMENT OF INCOME

Year Ended December 31, 2012

(in thousands)

																Other
																Non-guarantor
	Noble-															Subsidiaries			Consolidating
	Cayman			NHC			NDH			NHIL			NDS6			of Noble			Adjustments			Total
Operating revenues
Contract drilling services	$	—		$	—		$	161,577		$	—		$	—		$	2,006,624		$	(78,580	)	$	2,089,621
Reimbursables		—			—			6,637			—			—			59,130			—			65,767
Labor contract drilling services		—			—			—			—			—			45,299			—			45,299
Other		—			—			—			—			—			943			(931	)		12
Total operating revenues		—			—			168,214			—			—			2,111,996			(79,511	)		2,200,699
Operating costs and expenses
Contract drilling services		2,646			17,551			45,474			82,736			—			891,941			(79,511	)		960,837
Reimbursables		—			—			5,886			—			—			49,538			—			55,424
Labor contract drilling services		—			—			—			—			—			23,129			—			23,129
Depreciation and amortization		—			—			60,738			—			—			377,636			—			438,374
General and administrative		3,036			7,786			—			35,606			1			12,937			—			59,366
Loss on impairment		—			—			—			—			—			20,384			—			20,384
Gain on contract settlements/extinguishments, net		—			—			(4,869	)		—			—			(28,386	)		—			(33,255	)
Total operating costs and expenses		5,682			25,337			107,229			118,342			1			1,347,179			(79,511	)		1,524,259
Operating income (loss)		(5,682	)		(25,337	)		60,985			(118,342	)		(1	)		764,817			—			676,440
Other income (expense)
Income (loss) of unconsolidated affiliates—continuing operations		569,295			82,257			168,972			527,469			(244,644	)		—			(1,103,349	)		—
Income (loss) of unconsolidated affiliates—discontinued operations, net of tax		115,151			32,769			188,511			280,121			60,481			—			(677,033	)		—
Total income (loss) of unconsolidated affiliates		684,446			115,026			357,483			807,590			(184,163	)		—			(1,780,382	)		—
Interest expense, net of amounts capitalized		(105,147	)		(20,950	)		(23,105	)		(120,361	)		(43,090	)		(666,968	)		893,858			(85,763	)
Interest income and other, net		7,306			—			40,845			135,001			594,328			119,449			(893,858	)		3,071
Income from continuing operations before income taxes		580,923			68,739			436,208			703,888			367,074			217,298			(1,780,382	)		593,748
Income tax provision		—			(18,446	)		(4,576	)		—			—			(71,161	)		—			(94,183	)
Net income from continuing operations		580,923			50,293			431,632			703,888			367,074			146,137			(1,780,382	)		499,565
Net income from discontinued operations, net of tax		—			(23,622	)		10,160			—			—			128,613			—			115,151
Net Income		580,923			26,671			441,792			703,888			367,074			274,750			(1,780,382	)		614,716
Net income attributable to noncontrolling interests		—			—			—			—			—			(68,969	)		35,176			(33,793	)
Net income attributable to Noble Corporation		580,923			26,671			441,792			703,888			367,074			205,781			(1,745,206	)		580,923
Other comprehensive loss, net		(41,128	)		—			—			—			—			(41,128	)		41,128			(41,128	)
Comprehensive income attributable to Noble Corporation	$	539,795		$	26,671		$	441,792		$	703,888		$	367,074		$	164,653		$	(1,704,078	)	$	539,795

NOBLE CORPORATION AND SUBSIDIARIES

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

Year Ended December 31, 2014

(in thousands)

																Other
																Non-guarantor
	Noble-															Subsidiaries			Consolidating
	Cayman			NHC			NDH			NHIL			NDS6			of Noble			Adjustments			Total
Cash flows from operating activities
Net cash from operating activities	$	2,825,524		$	(151,987	)	$	366,583		$	(232,605	)	$	(31,788	)	$	(903,811	)	$	—		$	1,871,916
Cash flows from investing activities
New construction and capital expenditures		—			—			(1,404,560	)		—			—			(704,574	)		—			(2,109,134	)
Notes receivable from affiliates		50			—			—			273,744			—			—			(273,794	)		—
Net cash from investing activities		50			—			(1,404,560	)		273,744			—			(704,574	)		(273,794	)		(2,109,134	)
Cash flows from financing activities
Net change in borrowings outstanding on bank credit facilities		(437,647	)		—			—			—			—			—			—			(437,647	)
Repayment of long-term debt		—			—			—			(250,000	)		—			—			—			(250,000	)
Long-term borrowings of Paragon Offshore		—			—			—			—			—			1,710,550			—			1,710,550
Financing costs on long-term borrowings of Paragon Offshore		—			—			—			—			—			(14,676	)					(14,676	)
Cash balances of Paragon Offshore in Spin-Off		—			—			—			—			—			(104,152	)		—			(104,152	)
Dividends paid to noncontrolling interests		—			—			—			—			—			(79,966	)		—			(79,966	)
Financing costs on credit facilities		(398	)		—			—			—			—			—			—			(398	)
Distributions to parent company, net		(631,095	)		—			—			—			—			—			—			(631,095	)
Advances (to) from affiliates		(1,482,686	)		151,987			1,037,829			208,857			31,788			52,225			—			—
Notes payable to affiliates		(273,744	)		—			—			—			—			(50	)		273,794			—
Net cash from financing activities		(2,825,570	)		151,987			1,037,829			(41,143	)		31,788			1,563,931			273,794			192,616
Net change in cash and cash equivalents		4			—			(148	)		(4	)		—			(44,454	)		—			(44,602	)
Cash and cash equivalents, beginning of period		1			—			402			4			—			109,975			—			110,382
Cash and cash equivalents, end of period	$	5		$	—		$	254		$	—		$	—		$	65,521		$	—		$	65,780

NOBLE CORPORATION AND SUBSIDIARIES

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

Year Ended December 31, 2013

(in thousands)

																Other
																Non-guarantor
	Noble-															Subsidiaries			Consolidating
	Cayman			NHC			NDH			NHIL			NDS6			of Noble			Adjustments			Total
Cash flows from operating activities
Net cash from operating activities	$	(117,993	)	$	(133,595	)	$	424,147		$	(128,315	)	$	1,523,225		$	201,161		$	—		$	1,768,630
Cash flows from investing activities
New construction and capital expenditures		—			—			(1,594,449	)		—			—			(949,755	)		—			(2,544,204	)
Notes receivable from affiliates		—			—			—			—			—			294,798			(294,798	)		—
Proceeds from disposal of assets		—			—			—			—			—			61,000			—			61,000
Net cash from investing activities		—			—			(1,594,449	)		—			—			(593,957	)		(294,798	)		(2,483,204	)
Cash flows from financing activities
Net change in borrowings outstanding on bank credit facilities		1,221,333			—			—			—			—			—			—			1,221,333
Repayment of long-term debt		(300,000	)		—			—			—			—			—			—			(300,000	)
Dividends paid to noncontrolling interests		—			—			—			—			—			(105,388	)		—			(105,388	)
Financing costs on credit facilities		(2,484	)		—			—			—			—			—			—			(2,484	)
Distributions to parent company, net		(265,880	)		—			—			—			—			—			—			(265,880	)
Advances (to) from affiliates		(241,180	)		133,595			1,169,800			128,317			(1,523,225	)		332,693			—			—
Notes payable to affiliates		(294,798	)		—			—			—			—			—			294,798			—
Net cash from financing activities		116,991			133,595			1,169,800			128,317			(1,523,225	)		227,305			294,798			547,581
Net change in cash and cash equivalents		(1,002	)		—			(502	)		2			—			(165,491	)		—			(166,993	)
Cash and cash equivalents, beginning of period		1,003			—			904			2			—			275,466			—			277,375
Cash and cash equivalents, end of period	$	1		$	—		$	402		$	4		$	—		$	109,975		$	—		$	110,382

NOBLE CORPORATION AND SUBSIDIARIES

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

Year Ended December 31, 2012

(in thousands)

																Other
																Non-guarantor
	Noble-															Subsidiaries			Consolidating
	Cayman			NHC			NDH			NHIL			NDS6			of Noble			Adjustments			Total
Cash flows from operating activities
Net cash from operating activities	$	(86,784	)	$	(99,193	)	$	134,370		$	(96,642	)	$	551,358		$	1,017,518		$	—		$	1,420,627
Cash flows from investing activities
New construction and capital expenditures		—			—			(682,477	)		—			—			(1,106,077	)		—			(1,788,554	)
Notes receivable from affiliates		—			—			—			(1,188,287	)		—			—			1,188,287			—
Net cash from investing activities		—			—			(682,477	)		(1,188,287	)		—			(1,106,077	)		1,188,287			(1,788,554	)
Cash flows from financing activities
Net change in borrowings outstanding on bank credit facilities		(635,192	)		—			—			—			—			—			—			(635,192	)
Proceeds from issuance of senior notes, net of debt issuance costs		—			—			—			1,186,636			—			—			—			1,186,636
Financing costs on credit facilities		(5,221	)		—			—			—			—			—			—			(5,221	)
Contributions from joint venture partners		—			—			—			—			—			40,000			—			40,000
Distributions to parent company, net		(175,977	)		—			—			—			—			—			—			(175,977	)
Advances (to) from affiliates		(284,256	)		99,193			548,626			98,295			(551,358	)		89,500			—			—
Notes payable to affiliates		1,188,287			—			—			—			—			—			(1,188,287	)		—
Net cash from financing activities		87,641			99,193			548,626			1,284,931			(551,358	)		129,500			(1,188,287	)		410,246
Net change in cash and cash equivalents		857			—			519			2			—			40,941			—			42,319
Cash and cash equivalents, beginning of period		146			—			385			—			—			234,525			—			235,056
Cash and cash equivalents, end of period	$	1,003		$	—		$	904		$	2		$	—		$	275,466		$	—		$	277,375