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Loss Per Share
 3 Months Ended
Mar. 31, 2020
Earnings Per Share [Abstract]  
Loss Per Share
Note 4— Loss Per Share
The following table presents the computation of basic and diluted loss per share for Noble-UK:
 
 
Three Months Ended March 31,
 
 
2020
 
2019
Numerator:
 
 

 
 
Basic
 
 
 
 
Net loss from continuing operations
 
$
(1,062,677
)
 
$
(67,068
)
Net loss from discontinued operations, net of tax
 
—

 
(3,821
)
Net loss attributable to Noble Corporation plc
 
$
(1,062,677
)
 
$
(70,889
)
Diluted
 
 

 
 

Net loss from continuing operations
 
$
(1,062,677
)
 
$
(67,068
)
Net loss from discontinued operations, net of tax
 
—

 
(3,821
)
Net loss attributable to Noble Corporation plc
 
$
(1,062,677
)
 
$
(70,889
)
Denominator:
 
 

 
 

Weighted average shares outstanding - basic
 
250,047

 
248,251

Weighted average shares outstanding - diluted
 
250,047

 
248,251

Loss per share
 
 

 
 

Basic:
 
 
 
 
Loss from continuing operations
 
$
(4.25
)
 
$
(0.27
)
Loss from discontinued operations
 
—

 
(0.02
)
Net loss attributable to Noble Corporation plc
 
$
(4.25
)
 
$
(0.29
)
Diluted:
 
 
 
 
Loss from continuing operations
 
$
(4.25
)
 
$
(0.27
)
Loss from discontinued operations
 
—

 
(0.02
)
Net loss attributable to Noble Corporation plc
 
$
(4.25
)
 
$
(0.29
)

Only those items having a dilutive impact on our basic loss per share are included in diluted loss per share. For the three months ended March 31, 2020 and 2019, approximately 12.4 million and 13.2 million share-based awards, respectively, were excluded from diluted loss per share since the effect would have been anti-dilutive.
Share capital
As of March 31, 2020, Noble-UK had approximately 251.0 million shares outstanding and trading as compared to approximately 249.2 million shares outstanding and trading at December 31, 2019. At our 2019 Annual General Meeting, shareholders authorized our Board of Directors to increase share capital through the issuance of up to approximately 83.1 million ordinary shares (at current nominal value of $0.01 per share). That authority to allot shares will expire at the end of our 2020 Annual General Meeting unless we seek an extension from shareholders at that time. Other than shares issued to our directors under our Noble Corporation plc 2017 Director Omnibus Plan, the authority was not used to allot shares during the three months ended March 31, 2020.
The declaration and payment of dividends require the authorization of the Board of Directors of Noble-UK, provided that such dividends
on issued share capital may be paid only out of Noble-UK’s “distributable reserves” on its statutory balance sheet in accordance with UK law. Therefore, Noble-UK is not permitted to pay dividends out of share capital, which includes share premium. Noble has not paid dividends since the third quarter of 2016. The payment of future dividends will depend on our results of operations, financial condition, cash requirements, future business prospects, contractual and indenture restrictions and other factors deemed relevant by our Board of Directors; however, at this time, we do not expect to pay any dividends in the foreseeable future.
Share repurchases
Under UK law, the Company is only permitted to purchase its own shares by way of an “off-market purchase” in a plan approved by shareholders. We currently do not have shareholder authority to repurchase shares. During the three months ended March 31, 2020 and 2019, we did not repurchase any of our shares.