XML 90 R7.htm IDEA: XBRL DOCUMENT v2.4.1.9
Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2014
Dec. 31, 2013
Dec. 31, 2012
Cash flows from operating activities      
Net income $ 83,316us-gaap_ProfitLoss $ 850,406us-gaap_ProfitLoss $ 556,137us-gaap_ProfitLoss
Adjustments to reconcile net income to net cash from operating activities:      
Depreciation and amortization 627,473ne_DepreciationAndAmortizations 511,513ne_DepreciationAndAmortizations 440,306ne_DepreciationAndAmortizations
Loss on impairment 745,428ne_AssetImpairmentCharge 43,688ne_AssetImpairmentCharge 20,384ne_AssetImpairmentCharge
Gain on disposal of assets, net   (35,646)us-gaap_GainLossOnDispositionOfAssets  
Deferred income taxes (10,999)us-gaap_DeferredIncomeTaxExpenseBenefit (15,955)us-gaap_DeferredIncomeTaxExpenseBenefit (20,119)us-gaap_DeferredIncomeTaxExpenseBenefit
Amortization of share-based compensation 46,389us-gaap_ShareBasedCompensation 43,620us-gaap_ShareBasedCompensation 35,930us-gaap_ShareBasedCompensation
Net change in other assets and liabilities 50,527us-gaap_IncreaseDecreaseInOtherOperatingCapitalNet (63,218)us-gaap_IncreaseDecreaseInOtherOperatingCapitalNet 30,740us-gaap_IncreaseDecreaseInOtherOperatingCapitalNet
Net cash from operating activities 1,778,208us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations 1,702,317us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations 1,381,693us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
Cash flows from investing activities      
Capital expenditures (2,072,885)us-gaap_PaymentsForCapitalImprovements (2,487,520)us-gaap_PaymentsForCapitalImprovements (1,669,811)us-gaap_PaymentsForCapitalImprovements
Change in accrued capital expenditures (36,383)us-gaap_IncreaseDecreaseInOtherAccruedLiabilities (58,587)us-gaap_IncreaseDecreaseInOtherAccruedLiabilities (121,077)us-gaap_IncreaseDecreaseInOtherAccruedLiabilities
Proceeds from disposal of assets   61,000us-gaap_ProceedsFromSaleOfProductiveAssets  
Net cash from investing activities (2,109,268)us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations (2,485,107)us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations (1,790,888)us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
Cash flows from financing activities      
Net change in borrowings outstanding on bank credit facilities (437,647)us-gaap_ProceedsFromRepaymentsOfLinesOfCredit 1,221,333us-gaap_ProceedsFromRepaymentsOfLinesOfCredit (635,192)us-gaap_ProceedsFromRepaymentsOfLinesOfCredit
Repayment of long-term debt (250,000)us-gaap_RepaymentsOfLongTermDebt (300,000)us-gaap_RepaymentsOfLongTermDebt  
Proceeds from issuance of senior notes, net of debt issuance costs     1,186,636us-gaap_ProceedsFromIssuanceOfSeniorLongTermDebt
Financing costs on credit facilities (398)us-gaap_PaymentsOfFinancingCosts (2,484)us-gaap_PaymentsOfFinancingCosts (5,221)us-gaap_PaymentsOfFinancingCosts
Long-term borrowings of Paragon Offshore 1,710,550ne_TermBorrowingBySubsidiary    
Financing costs on long-term borrowing of Paragon Offshore (14,676)ne_PaymentsOfFinancingCostsOnLongTermBorrowingBySubsidiary    
Cash balances of Paragon Offshore in Spin-off (104,152)ne_GainLossOnSpinOffTransaction    
Dividends paid to noncontrolling interests (79,966)us-gaap_PaymentsOfDividendsMinorityInterest (105,388)us-gaap_PaymentsOfDividendsMinorityInterest  
Contributions from noncontrolling interests     40,000us-gaap_ProceedsFromMinorityShareholders
Repurchases of shares (154,145)us-gaap_PaymentsForRepurchaseOfCommonStock    
Repurchases of employee shares surrendered for taxes   (7,653)us-gaap_PaymentsForRepurchaseOfOtherEquity (10,516)us-gaap_PaymentsForRepurchaseOfOtherEquity
Employee stock transactions 2,125us-gaap_ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions 4,261us-gaap_ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions 14,677us-gaap_ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
Par value reduction/dividend payments (386,579)us-gaap_PaymentsOfDividendsCommonStock (194,913)us-gaap_PaymentsOfDividendsCommonStock (138,293)us-gaap_PaymentsOfDividendsCommonStock
Net cash from financing activities 285,112us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations 615,156us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations 452,091us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
Net change in cash and cash equivalents (45,948)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease (167,634)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease 42,896us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease
Cash and cash equivalents, beginning of period 114,458us-gaap_CashAndCashEquivalentsAtCarryingValue 282,092us-gaap_CashAndCashEquivalentsAtCarryingValue 239,196us-gaap_CashAndCashEquivalentsAtCarryingValue
Cash and cash equivalents, end of period 68,510us-gaap_CashAndCashEquivalentsAtCarryingValue 114,458us-gaap_CashAndCashEquivalentsAtCarryingValue 282,092us-gaap_CashAndCashEquivalentsAtCarryingValue
Noble-Cayman [Member]      
Cash flows from operating activities      
Net income 199,053us-gaap_ProfitLoss
/ dei_LegalEntityAxis
= ne_NobleCaymanMember
935,523us-gaap_ProfitLoss
/ dei_LegalEntityAxis
= ne_NobleCaymanMember
614,716us-gaap_ProfitLoss
/ dei_LegalEntityAxis
= ne_NobleCaymanMember
Adjustments to reconcile net income to net cash from operating activities:      
Depreciation and amortization 624,278ne_DepreciationAndAmortizations
/ dei_LegalEntityAxis
= ne_NobleCaymanMember
509,341ne_DepreciationAndAmortizations
/ dei_LegalEntityAxis
= ne_NobleCaymanMember
438,374ne_DepreciationAndAmortizations
/ dei_LegalEntityAxis
= ne_NobleCaymanMember
Loss on impairment 745,428ne_AssetImpairmentCharge
/ dei_LegalEntityAxis
= ne_NobleCaymanMember
43,688ne_AssetImpairmentCharge
/ dei_LegalEntityAxis
= ne_NobleCaymanMember
20,384ne_AssetImpairmentCharge
/ dei_LegalEntityAxis
= ne_NobleCaymanMember
Gain on disposal of assets, net   (35,646)us-gaap_GainLossOnDispositionOfAssets
/ dei_LegalEntityAxis
= ne_NobleCaymanMember
 
Deferred income taxes (10,999)us-gaap_DeferredIncomeTaxExpenseBenefit
/ dei_LegalEntityAxis
= ne_NobleCaymanMember
(15,955)us-gaap_DeferredIncomeTaxExpenseBenefit
/ dei_LegalEntityAxis
= ne_NobleCaymanMember
(20,119)us-gaap_DeferredIncomeTaxExpenseBenefit
/ dei_LegalEntityAxis
= ne_NobleCaymanMember
Capital contribution by parent-share-based compensation 33,341us-gaap_ProceedsFromContributionsFromParent
/ dei_LegalEntityAxis
= ne_NobleCaymanMember
26,862us-gaap_ProceedsFromContributionsFromParent
/ dei_LegalEntityAxis
= ne_NobleCaymanMember
19,838us-gaap_ProceedsFromContributionsFromParent
/ dei_LegalEntityAxis
= ne_NobleCaymanMember
Net change in other assets and liabilities 44,740us-gaap_IncreaseDecreaseInOtherOperatingCapitalNet
/ dei_LegalEntityAxis
= ne_NobleCaymanMember
(63,092)us-gaap_IncreaseDecreaseInOtherOperatingCapitalNet
/ dei_LegalEntityAxis
= ne_NobleCaymanMember
29,119us-gaap_IncreaseDecreaseInOtherOperatingCapitalNet
/ dei_LegalEntityAxis
= ne_NobleCaymanMember
Net cash from operating activities 1,871,916us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
/ dei_LegalEntityAxis
= ne_NobleCaymanMember
1,768,630us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
/ dei_LegalEntityAxis
= ne_NobleCaymanMember
1,420,627us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
/ dei_LegalEntityAxis
= ne_NobleCaymanMember
Cash flows from investing activities      
Capital expenditures (2,072,751)us-gaap_PaymentsForCapitalImprovements
/ dei_LegalEntityAxis
= ne_NobleCaymanMember
(2,485,617)us-gaap_PaymentsForCapitalImprovements
/ dei_LegalEntityAxis
= ne_NobleCaymanMember
(1,667,477)us-gaap_PaymentsForCapitalImprovements
/ dei_LegalEntityAxis
= ne_NobleCaymanMember
Change in accrued capital expenditures (36,383)us-gaap_IncreaseDecreaseInOtherAccruedLiabilities
/ dei_LegalEntityAxis
= ne_NobleCaymanMember
(58,587)us-gaap_IncreaseDecreaseInOtherAccruedLiabilities
/ dei_LegalEntityAxis
= ne_NobleCaymanMember
(121,077)us-gaap_IncreaseDecreaseInOtherAccruedLiabilities
/ dei_LegalEntityAxis
= ne_NobleCaymanMember
Proceeds from disposal of assets   61,000us-gaap_ProceedsFromSaleOfProductiveAssets
/ dei_LegalEntityAxis
= ne_NobleCaymanMember
 
Net cash from investing activities (2,109,134)us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
/ dei_LegalEntityAxis
= ne_NobleCaymanMember
(2,483,204)us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
/ dei_LegalEntityAxis
= ne_NobleCaymanMember
(1,788,554)us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
/ dei_LegalEntityAxis
= ne_NobleCaymanMember
Cash flows from financing activities      
Net change in borrowings outstanding on bank credit facilities (437,647)us-gaap_ProceedsFromRepaymentsOfLinesOfCredit
/ dei_LegalEntityAxis
= ne_NobleCaymanMember
1,221,333us-gaap_ProceedsFromRepaymentsOfLinesOfCredit
/ dei_LegalEntityAxis
= ne_NobleCaymanMember
(635,192)us-gaap_ProceedsFromRepaymentsOfLinesOfCredit
/ dei_LegalEntityAxis
= ne_NobleCaymanMember
Repayment of long-term debt (250,000)us-gaap_RepaymentsOfLongTermDebt
/ dei_LegalEntityAxis
= ne_NobleCaymanMember
(300,000)us-gaap_RepaymentsOfLongTermDebt
/ dei_LegalEntityAxis
= ne_NobleCaymanMember
 
Proceeds from issuance of senior notes, net of debt issuance costs     1,186,636us-gaap_ProceedsFromIssuanceOfSeniorLongTermDebt
/ dei_LegalEntityAxis
= ne_NobleCaymanMember
Financing costs on credit facilities (398)us-gaap_PaymentsOfFinancingCosts
/ dei_LegalEntityAxis
= ne_NobleCaymanMember
(2,484)us-gaap_PaymentsOfFinancingCosts
/ dei_LegalEntityAxis
= ne_NobleCaymanMember
(5,221)us-gaap_PaymentsOfFinancingCosts
/ dei_LegalEntityAxis
= ne_NobleCaymanMember
Long-term borrowings of Paragon Offshore 1,710,550ne_TermBorrowingBySubsidiary
/ dei_LegalEntityAxis
= ne_NobleCaymanMember
   
Financing costs on long-term borrowing of Paragon Offshore (14,676)ne_PaymentsOfFinancingCostsOnLongTermBorrowingBySubsidiary
/ dei_LegalEntityAxis
= ne_NobleCaymanMember
   
Cash balances of Paragon Offshore in Spin-off (104,152)ne_GainLossOnSpinOffTransaction
/ dei_LegalEntityAxis
= ne_NobleCaymanMember
   
Dividends paid to noncontrolling interests (79,966)us-gaap_PaymentsOfDividendsMinorityInterest
/ dei_LegalEntityAxis
= ne_NobleCaymanMember
(105,388)us-gaap_PaymentsOfDividendsMinorityInterest
/ dei_LegalEntityAxis
= ne_NobleCaymanMember
 
Contributions from noncontrolling interests     40,000us-gaap_ProceedsFromMinorityShareholders
/ dei_LegalEntityAxis
= ne_NobleCaymanMember
Distributions to parent company, net (631,095)us-gaap_PaymentsOfDistributionsToAffiliates
/ dei_LegalEntityAxis
= ne_NobleCaymanMember
(265,880)us-gaap_PaymentsOfDistributionsToAffiliates
/ dei_LegalEntityAxis
= ne_NobleCaymanMember
(175,977)us-gaap_PaymentsOfDistributionsToAffiliates
/ dei_LegalEntityAxis
= ne_NobleCaymanMember
Net cash from financing activities 192,616us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
/ dei_LegalEntityAxis
= ne_NobleCaymanMember
547,581us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
/ dei_LegalEntityAxis
= ne_NobleCaymanMember
410,246us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
/ dei_LegalEntityAxis
= ne_NobleCaymanMember
Net change in cash and cash equivalents (44,602)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease
/ dei_LegalEntityAxis
= ne_NobleCaymanMember
(166,993)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease
/ dei_LegalEntityAxis
= ne_NobleCaymanMember
42,319us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease
/ dei_LegalEntityAxis
= ne_NobleCaymanMember
Cash and cash equivalents, beginning of period 110,382us-gaap_CashAndCashEquivalentsAtCarryingValue
/ dei_LegalEntityAxis
= ne_NobleCaymanMember
277,375us-gaap_CashAndCashEquivalentsAtCarryingValue
/ dei_LegalEntityAxis
= ne_NobleCaymanMember
235,056us-gaap_CashAndCashEquivalentsAtCarryingValue
/ dei_LegalEntityAxis
= ne_NobleCaymanMember
Cash and cash equivalents, end of period $ 65,780us-gaap_CashAndCashEquivalentsAtCarryingValue
/ dei_LegalEntityAxis
= ne_NobleCaymanMember
$ 110,382us-gaap_CashAndCashEquivalentsAtCarryingValue
/ dei_LegalEntityAxis
= ne_NobleCaymanMember
$ 277,375us-gaap_CashAndCashEquivalentsAtCarryingValue
/ dei_LegalEntityAxis
= ne_NobleCaymanMember