Supplemental Financial Information

9 Months Ended

Sep. 30, 2024

Supplemental Financial Information [Abstract]

Supplemental Financial Information

Note 11 — Supplemental Financial Information

Condensed Consolidated Balance Sheets Information

Restricted cash

Noble’s restricted cash balance as of September 30, 2024, and December 31, 2023, was $13.2 million and $7.0 million, respectively. All restricted cash is recorded in “Prepaid expenses and other current assets.”

Leases

We determine if an arrangement is a lease at inception. Our lease agreements are primarily for real estate, equipment, storage, dock space, and automobiles and are included within “Other assets”, “Other current liabilities”, and “Other liabilities” on our Condensed Consolidated Balance Sheets. In connection with the Diamond Transaction, the Company assumed several leases entered into by Diamond consisting of operating leases for corporate and shorebase offices, office and information technology equipment, employee housing, onshore storage yards, and certain rig equipment and tools as well as finance leases for well control equipment used on the drillships. The finance leases commenced in 2016 and also include an option to purchase the leased equipment at the end of the respective lease term.

Supplemental balance sheet information related to leases is as follows:

	September 30, 2024		December 31, 2023
Operating leases
Right-of-use assets	$	83,775	$	24,528
Current lease liabilities	16,378		10,581
Long-term lease liabilities	69,627		15,082
Finance leases
Right-of-use assets	$	44,254	$	—
Current lease liabilities	26,443		—
Long-term lease liabilities	15,616		—

Condensed Consolidated Statements of Cash Flows Information

Operating cash activities

The net effect of changes in other assets and liabilities on cash flows from operating activities is as follows:

	Nine Months Ended September 30,
	2024		2023
Accounts receivable	$	(10,232)	$	(169,944)
Other current assets	8,624		(30,250)
Other assets	153		7,356
Accounts payable	(18,136)		(721)
Other current liabilities	27,592		22,815
Other liabilities	5,481		6,192
Total net change in assets and liabilities	$	13,482	$	(164,552)

Non-cash investing and financing activities

Non-cash investing and financing activities excluded from unaudited Condensed Consolidated Statements of Cash Flows are as follows:

	Nine Months Ended September 30,
	2024		2023
Accrued capital expenditures at period end	$	60,691	$	71,291

On September 4, 2024, Noble completed the acquisition of Diamond, which included $400.5 million in net cash paid and $879.9 million in non-cash consideration, primarily related to Noble shares issued to legacy Diamond shareholders and the replacement of legacy Diamond RSU Awards, in exchange for $1.5 billion net assets acquired. See “Note 2 — Acquisitions” for additional information.