Noble 10-K 12 Mar 21 2020 FY Annual report Financial data

Cover Page

Cover Page - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Mar. 10, 2021	Jun. 30, 2020
Entity Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2020
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	001-36211
Entity Registrant Name	Noble Corporation
Entity Incorporation, State or Country Code	E9
Entity Tax Identification Number	98-1575532
Entity Address, Address Line One	13135 Dairy Ashford, Suite 800
Entity Address, City or Town	Sugar Land
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	77478
City Area Code	281
Local Phone Number	276-6100
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 79.5
Entity Common Stock, Shares Outstanding		43,536,636
Documents Incorporated by Reference	Items 10, 11, 12, 13 and 14 of Part III of this Annual Report on Form 10-K will be incorporated by reference from an amendment to this Annual Report on Form 10-K to be filed with the Securities and Exchange Commission.This Form 10-K is a combined annual report being filed separately by two registrants: Noble Corporation, a Cayman Islands company, and its wholly-owned subsidiary, Noble Finance Company, a Cayman Islands company.
Entity Central Index Key	0001458891
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Amendment Flag	false
Noble Finance Company
Entity Information [Line Items]
Document Type	10-K
Document Period End Date	Dec. 31, 2020
Current Fiscal Year End Date	--12-31
Entity File Number	001-31306
Entity Registrant Name	Noble Finance Company
Entity Incorporation, State or Country Code	E9
Entity Tax Identification Number	98-0366361
Entity Address, Address Line One	13135 Dairy Ashford, Suite 800
Entity Address, City or Town	Sugar Land
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	77478
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		261,246,093
Entity Central Index Key	0001169055
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Amendment Flag	false

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Current assets
Cash and cash equivalents	$ 343,332	$ 104,621
Accounts receivable, net of allowance for credit losses of $1,069 and $1,939, respectively	147,863	198,665
Taxes receivable	30,767	59,771
Prepaid expenses and other current assets	80,322	59,050
Total current assets	602,284	422,107
Property and equipment, at cost	4,777,697	10,306,625
Accumulated depreciation	(1,200,628)	(2,572,701)
Property and equipment, net	3,577,069	7,733,924
Other assets	84,584	128,467
Total assets	4,263,937	8,284,498
Current liabilities
Current maturities of long-term debt	0	62,505
Accounts payable	95,159	108,208
Accrued payroll and related costs	36,553	56,056
Taxes payable	36,819	30,715
Interest payable	0	88,047
Other current liabilities	49,820	171,397
Total current liabilities	218,351	516,928
Long-term debt	0	3,779,499
Deferred income taxes	9,292	68,201
Other liabilities	108,039	260,898
Liabilities subject to compromise	4,239,643	0
Total liabilities	4,575,325	4,625,526
Commitments and contingencies (Note 16)
Shareholders' equity
Common stock	2,511	2,492
Additional paid-in capital	814,796	807,093
Retained earnings (accumulated deficit)	(1,070,683)	2,907,776
Accumulated other comprehensive loss	(58,012)	(58,389)
Total shareholders' equity	(311,388)	3,658,972
Total liabilities and equity	4,263,937	8,284,498
Noble Finance Company
Current assets
Cash and cash equivalents	343,332	104,575
Accounts receivable, net of allowance for credit losses of $1,069 and $1,939, respectively	147,863	198,665
Accounts receivable from affiliates	31,214	0
Taxes receivable	30,767	59,771
Prepaid expenses and other current assets	50,469	57,890
Total current assets	603,645	420,901
Property and equipment, at cost	4,777,697	10,306,625
Accumulated depreciation	(1,200,628)	(2,572,701)
Property and equipment, net	3,577,069	7,733,924
Other assets	84,584	128,467
Total assets	4,265,298	8,283,292
Current liabilities
Current maturities of long-term debt	0	62,505
Accounts payable	83,649	107,985
Accrued payroll and related costs	36,516	56,065
Taxes payable	36,819	30,715
Interest payable	0	88,047
Other current liabilities	49,820	71,397
Total current liabilities	206,804	416,714
Long-term debt	0	3,779,499
Deferred income taxes	9,292	68,201
Other liabilities	108,039	260,898
Liabilities subject to compromise	4,154,555	0
Total liabilities	4,478,690	4,525,312
Commitments and contingencies (Note 16)
Shareholders' equity
Common stock	26,125	26,125
Additional paid-in capital	766,714	757,545
Retained earnings (accumulated deficit)	(948,219)	3,032,699
Accumulated other comprehensive loss	(58,012)	(58,389)
Total shareholders' equity	(213,392)	3,757,980
Total liabilities and equity	$ 4,265,298	$ 8,283,292

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) shares in Thousands, $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Allowance for credit losses	$ 1,069	$ 1,939
Common stock, par value (usd per share)	$ 0.01	$ 0.01
Ordinary shares, shares outstanding (in shares)	251,084	249,200
Noble Finance Company
Allowance for credit losses	$ 1,069	$ 1,939
Common stock, par value (usd per share)	$ 0.10	$ 0.10
Ordinary shares, shares outstanding (in shares)	261,246	261,246

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Operating revenues
Operating revenues	$ 964,272	$ 1,305,438	$ 1,082,826
Operating costs and expenses
Depreciation and amortization	374,129	440,221	486,530
General and administrative	121,196	168,792	73,216
Pre-petition charges	14,409	0	0
Loss on impairment	3,915,408	615,294	802,133
Total operating costs and expenses	5,040,817	1,971,711	2,028,900
Operating loss	(4,076,545)	(666,273)	(946,074)
Other income (expense)
Interest expense, net of amount capitalized	(164,653)	(279,435)	(297,611)
Gain (loss) on extinguishment of debt, net	17,254	30,616	(1,793)
Interest income and other, net	9,012	6,007	8,302
Reorganization items, net	(23,930)	0	0
Loss from continuing operations before income taxes	(4,238,862)	(909,085)	(1,237,176)
Income tax benefit	260,403	38,540	106,641
Net loss from continuing operations	(3,978,459)	(870,545)	(1,130,535)
Net loss from discontinued operations, net of tax	0	(3,821)	0
Net loss	(3,978,459)	(874,366)	(1,130,535)
Net loss attributable to noncontrolling interests	0	173,776	245,485
Net loss attributable to the company	(3,978,459)	(700,590)	(885,050)
Loss from continuing operations	(3,978,459)	(696,769)	(885,050)
Net loss from discontinued operations, net of tax	$ 0	$ (3,821)	$ 0
Basic:
Loss from continuing operations (usd per share)	$ (15.86)	$ (2.79)	$ (3.59)
Loss from discontinued operations (usd per share)	0	(0.02)	0
Net loss attributable to Noble Corporation (usd per share)	(15.86)	(2.81)	(3.59)
Diluted:
Loss from continuing operations (usd per share)	(15.86)	(2.79)	(3.59)
Loss from discontinued operations (usd per share)	0	(0.02)	0
Net loss attributable to Noble Corporation (usd per share)	$ (15.86)	$ (2.81)	$ (3.59)
Weighted- Average Shares Outstanding
Basic (in shares)	250,792	248,949	246,614
Diluted (in shares)	250,792	248,949	246,614
Noble Finance Company
Operating revenues
Operating revenues	$ 964,272	$ 1,305,438	$ 1,082,826
Operating costs and expenses
Depreciation and amortization	372,560	437,690	482,660
General and administrative	37,798	34,602	38,203
Loss on impairment	3,915,408	615,294	802,133
Total operating costs and expenses	4,940,185	1,832,912	1,988,208
Operating loss	(3,975,913)	(527,474)	(905,382)
Other income (expense)
Interest expense, net of amount capitalized	(164,653)	(279,435)	(297,611)
Gain (loss) on extinguishment of debt, net	17,254	30,616	(1,793)
Interest income and other, net	9,014	6,670	8,282
Reorganization items, net	(50,778)	0	0
Loss from continuing operations before income taxes	(4,165,076)	(769,623)	(1,196,504)
Income tax benefit	260,403	38,540	106,534
Net loss from continuing operations	(3,904,673)	(731,083)	(1,089,970)
Net loss from discontinued operations, net of tax	0	(3,821)	0
Net loss	(3,904,673)	(734,904)	(1,089,970)
Net loss attributable to noncontrolling interests	0	173,776	245,485
Net loss attributable to the company	(3,904,673)	(561,128)	(844,485)
Contract drilling services
Operating revenues
Operating revenues	909,236	1,246,058	1,036,082
Operating costs and expenses
Cost of services	567,487	698,343	629,937
Contract drilling services | Noble Finance Company
Operating revenues
Operating revenues	909,236	1,246,058	1,036,082
Operating costs and expenses
Cost of services	566,231	696,265	628,128
Reimbursables and other
Operating revenues
Operating revenues	55,036	59,380	46,744
Operating costs and expenses
Cost of services	48,188	49,061	37,084
Reimbursables and other | Noble Finance Company
Operating revenues
Operating revenues	55,036	59,380	46,744
Operating costs and expenses
Cost of services	$ 48,188	$ 49,061	$ 37,084

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Net loss	$ (3,978,459)	$ (874,366)	$ (1,130,535)
Other comprehensive income (loss)
Foreign currency translation adjustments	(521)	260	(2,729)
Net pension plan gain (loss) (net of tax provision (benefit) of $(537), $(924) and $(1,828) for the year ended December 31, 2020, 2019 and 2018, respectively)	(1,407)	(3,744)	(7,099)
Amortization of deferred pension plan amounts (net of tax provision of $583, $584 and $345 for the year ended December 31, 2020, 2019 and 2018, respectively)	2,183	2,197	1,298
Net pension plan curtailment and settlement gain (loss) (net of tax provision (benefit) of $32, $(8) and $28 for the year ended December 31, 2020, 2019 and 2018, respectively)	122	(30)	107
Prior service cost arising during the period (net of tax provision (benefit) of zero, zero and $(55) for the year ended December 31, 2020, 2019 and 2018, respectively)	0	0	(221)
Other comprehensive income (loss), net	377	(1,317)	(8,644)
Net comprehensive loss attributable to noncontrolling interests	0	173,776	245,485
Comprehensive income (loss) attributable to the company	(3,978,082)	(701,907)	(893,694)
Noble Finance Company
Net loss	(3,904,673)	(734,904)	(1,089,970)
Other comprehensive income (loss)
Foreign currency translation adjustments	(521)	260	(2,729)
Net pension plan gain (loss) (net of tax provision (benefit) of $(537), $(924) and $(1,828) for the year ended December 31, 2020, 2019 and 2018, respectively)	(1,407)	(3,744)	(7,099)
Amortization of deferred pension plan amounts (net of tax provision of $583, $584 and $345 for the year ended December 31, 2020, 2019 and 2018, respectively)	2,183	2,197	1,298
Net pension plan curtailment and settlement gain (loss) (net of tax provision (benefit) of $32, $(8) and $28 for the year ended December 31, 2020, 2019 and 2018, respectively)	122	(30)	107
Prior service cost arising during the period (net of tax provision (benefit) of zero, zero and $(55) for the year ended December 31, 2020, 2019 and 2018, respectively)	0	0	(221)
Other comprehensive income (loss), net	377	(1,317)	(8,644)
Net comprehensive loss attributable to noncontrolling interests	0	173,776	245,485
Comprehensive income (loss) attributable to the company	$ (3,904,296)	$ (562,445)	$ (853,129)

CONSOLIDATED STATEMENTS OF CO_2

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Net pension gain (loss), tax provision (benefit)	$ (537)	$ (924)	$ (1,828)
Amortization of deferred pension plan amounts, tax provision	583	584	345
Net pension plans settlement and curtailment gain (loss), tax provision (benefit)	32	(8)	28
Benefit plans, prior service costs, tax	0	0	(55)
Noble Finance Company
Net pension gain (loss), tax provision (benefit)	(537)	(924)	(1,828)
Amortization of deferred pension plan amounts, tax provision	583	584	345
Net pension plans settlement and curtailment gain (loss), tax provision (benefit)	32	(8)	28
Benefit plans, prior service costs, tax	$ 0	$ 0	$ (55)

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Cash flows from operating activities
Net loss	$ (3,978,459)	$ (874,366)	$ (1,130,535)
Adjustments to reconcile net loss to net cash flow from operating activities:
Depreciation and amortization	374,129	440,221	486,530
Loss on impairment	3,915,408	615,294	802,133
(Gain) loss on extinguishment of debt, net	(17,254)	(30,616)	1,793
Reorganization items, net	(17,366)	0	0
Deferred income taxes	(26,325)	(17,825)	(68,416)
Amortization of share-based compensation	9,169	14,737	23,993
Other costs, net	(61,550)	60,259	6,446
Changes in components of working capital
Change in taxes receivable	29,880	(11,225)	84,847
Net changes in other operating assets and liabilities	45,565	(9,708)	(34,940)
Net cash used in operating activities	273,197	186,771	171,851
Cash flows from investing activities
Capital expenditures	(148,886)	(268,783)	(194,779)
Proceeds from disposal of assets	27,366	12,753	5,402
Net cash used in investing activities	(121,520)	(256,030)	(189,377)
Cash flows from financing activities
Issuance of senior notes	0	0	750,000
Borrowings on credit facilities	210,000	755,000	0
Repayments of credit facilities	0	(420,000)	0
Repayments of debt	(101,132)	(400,000)	(972,708)
Debt issuance costs	0	(1,092)	(15,639)
Purchase of noncontrolling interests	0	(106,744)	0
Dividends paid to noncontrolling interests	0	(25,109)	(27,579)
Cash paid to settle equity awards	(1,010)	0	0
Taxes withheld on employee stock transactions	(418)	(2,779)	(3,470)
Net cash provided by (used in) financing activities	107,440	(200,724)	(269,396)
Net increase (decrease) in cash, cash equivalents and restricted cash	259,117	(269,983)	(286,922)
Cash, cash equivalents and restricted cash, beginning of period	105,924	375,907	662,829
Cash, cash equivalents and restricted cash, end of period	365,041	105,924	375,907
Noble Finance Company
Cash flows from operating activities
Net loss	(3,904,673)	(734,904)	(1,089,970)
Adjustments to reconcile net loss to net cash flow from operating activities:
Depreciation and amortization	372,560	437,690	482,660
Loss on impairment	3,915,408	615,294	802,133
(Gain) loss on extinguishment of debt, net	(17,254)	(30,616)	1,793
Reorganization items, net	44,134	0	0
Deferred income taxes	(26,325)	(17,825)	(68,416)
Amortization of share-based compensation	9,169	14,689	23,945
Other costs, net	(115,550)	(39,741)	6,446
Changes in components of working capital
Change in taxes receivable	29,880	(11,225)	84,847
Net changes in other operating assets and liabilities	20,714	(6,456)	(30,679)
Net cash used in operating activities	328,063	226,906	212,759
Cash flows from investing activities
Capital expenditures	(148,886)	(268,783)	(194,779)
Proceeds from disposal of assets	27,366	12,753	5,402
Net cash used in investing activities	(121,520)	(256,030)	(189,377)
Cash flows from financing activities
Issuance of senior notes	0	0	750,000
Borrowings on credit facilities	210,000	755,000	0
Repayments of credit facilities	0	(420,000)	0
Repayments of debt	(101,132)	(400,000)	(972,708)
Debt issuance costs	0	(1,092)	(15,639)
Purchase of noncontrolling interests	0	(106,744)	0
Dividends paid to noncontrolling interests	0	(25,109)	(27,579)
Contributions (distributions) from (to) parent company, net	(76,245)	(42,103)	(44,417)
Net cash provided by (used in) financing activities	32,623	(240,048)	(310,343)
Net increase (decrease) in cash, cash equivalents and restricted cash	239,166	(269,172)	(286,961)
Cash, cash equivalents and restricted cash, beginning of period	105,878	375,050	662,011
Cash, cash equivalents and restricted cash, end of period	$ 345,044	$ 105,878	$ 375,050

CONSOLIDATED STATEMENTS OF EQUI

CONSOLIDATED STATEMENTS OF EQUITY - USD ($) shares in Thousands, $ in Thousands		Total	Cumulative Effect, Period of Adoption, Adjustment	Cumulative Effect, Period of Adoption, Adjusted Balance	Common Stock	Common StockCumulative Effect, Period of Adoption, Adjusted Balance	Additional Paid-in Capital	Additional Paid-in CapitalCumulative Effect, Period of Adoption, Adjusted Balance	Retained Earnings (accumulated deficit)	Retained Earnings (accumulated deficit)Cumulative Effect, Period of Adoption, Adjustment	Retained Earnings (accumulated deficit)Cumulative Effect, Period of Adoption, Adjusted Balance	Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive LossCumulative Effect, Period of Adoption, Adjusted Balance	Noncontrolling Interests	Noncontrolling InterestsCumulative Effect, Period of Adoption, Adjusted Balance	Noble Finance Company	Noble Finance CompanyCumulative Effect, Period of Adoption, Adjustment	Noble Finance CompanyCumulative Effect, Period of Adoption, Adjusted Balance	Noble Finance CompanyCommon Stock	Noble Finance CompanyCommon StockCumulative Effect, Period of Adoption, Adjusted Balance	Noble Finance CompanyAdditional Paid-in Capital	Noble Finance CompanyAdditional Paid-in CapitalCumulative Effect, Period of Adoption, Adjusted Balance	Noble Finance CompanyRetained Earnings (accumulated deficit)	Noble Finance CompanyRetained Earnings (accumulated deficit)Cumulative Effect, Period of Adoption, Adjustment	Noble Finance CompanyRetained Earnings (accumulated deficit)Cumulative Effect, Period of Adoption, Adjusted Balance	Noble Finance CompanyAccumulated Other Comprehensive Loss	Noble Finance CompanyAccumulated Other Comprehensive LossCumulative Effect, Period of Adoption, Adjusted Balance	Noble Finance CompanyNoncontrolling Interests	Noble Finance CompanyNoncontrolling InterestsCumulative Effect, Period of Adoption, Adjusted Balance
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Tax effects of intra-entity asset transfers		$ (148,393)							$ (148,393)							$ (148,393)							$ (148,393)
Beginning Balance (in shares) at Dec. 31, 2017					244,971	244,971													261,246	261,246
Beginning balance at Dec. 31, 2017		5,950,628	$ (1,488)	$ 5,800,747	$ 2,450	$ 2,450	$ 678,922	$ 678,922	4,637,677	$ (1,488)	$ 4,493,336	$ (42,888)	$ (48,428)	$ 674,467	$ 674,467	5,950,014	$ (1,488)	$ 5,800,133	$ 26,125	$ 26,125	$ 623,137	$ 623,137	4,669,173	$ (1,488)	$ 4,524,832	$ (42,888)	$ (48,428)	$ 674,467	$ 674,467
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stranded tax effect resulting from the Tax Cuts and Jobs Act									5,540			(5,540)											5,540			(5,540)
Contributions from parent company, net																(44,417)							(44,417)
Capital contribution by parent - share-based compensation																23,945					23,945
Employee related equity activity
Amortization of share-based compensation		23,993					23,993
Issuance of share-based compensation shares (in shares)					1,823
Issuance of share-based compensation shares		0			$ 18		(18)
Tax benefit of equity transactions		(3,488)					(3,488)
Net loss		(1,130,535)							(885,050)					(245,485)		(1,089,970)							(844,485)					(245,485)
Dividends paid to noncontrolling interests		(27,579)												(27,579)		(27,579)												(27,579)
Dividend equivalents	[1]	80							80
Other comprehensive income (loss), net		(8,644)										(8,644)				(8,644)										(8,644)
Ending balance at Dec. 31, 2018		4,654,574			$ 2,468		699,409		3,608,366			(57,072)		401,403		4,653,468			$ 26,125		647,082		3,635,930			(57,072)		401,403
Ending Balance (in shares) at Dec. 31, 2018					246,794														261,246
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Distributions to parent company, net																(42,103)							(42,103)
Capital contribution by parent - share-based compensation																14,689					14,689
Employee related equity activity
Amortization of share-based compensation		14,737					14,737
Issuance of share-based compensation shares (in shares)					2,406
Issuance of share-based compensation shares		0			$ 24		(24)
Tax benefit of equity transactions		(2,803)					(2,803)
Purchase of noncontrolling interests		(106,744)					95,774							(202,518)		(106,744)					95,774							(202,518)
Net loss		(874,366)							(700,590)					(173,776)		(734,904)							(561,128)					(173,776)
Dividends paid to noncontrolling interests		(25,109)												(25,109)		(25,109)												(25,109)
Other comprehensive income (loss), net		(1,317)										(1,317)				(1,317)										(1,317)
Ending balance at Dec. 31, 2019		$ 3,658,972			$ 2,492		807,093		2,907,776			(58,389)		0		$ 3,757,980			$ 26,125		757,545		3,032,699			(58,389)		0
Ending Balance (in shares) at Dec. 31, 2019		249,200			249,200											261,246			261,246
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Distributions to parent company, net																$ (76,245)							(76,245)
Capital contribution by parent - share-based compensation																9,169					9,169
Employee related equity activity
Amortization of share-based compensation		$ 8,159					8,159
Issuance of share-based compensation shares (in shares)					1,884
Issuance of share-based compensation shares		0			$ 19		(19)
Tax benefit of equity transactions		(437)					(437)
Net loss		(3,978,459)							(3,978,459)							(3,904,673)							(3,904,673)					0
Other comprehensive income (loss), net		377										377				377										377
Ending balance at Dec. 31, 2020		$ (311,388)			$ 2,511		$ 814,796		$ (1,070,683)			$ (58,012)		$ 0		$ (213,392)			$ 26,125		$ 766,714		$ (948,219)			$ (58,012)		$ 0
Ending Balance (in shares) at Dec. 31, 2020		251,084			251,084											261,246			261,246
[1]	Activity associated with dividend equivalents, which are related to 2016 performance awards to be paid upon vesting.

Organization and Significant Ac

Organization and Significant Accounting Policies	12 Months Ended
	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Significant Accounting Policies	Note 1— Organization and Significant Accounting Policies Noble Corporation, an exempted company incorporated in the Cayman Islands with limited liability (“Noble” or “Successor”), is a leading offshore drilling contractor for the oil and gas industry. We provide contract drilling services to the international oil and gas industry with our global fleet of mobile offshore drilling units. Noble and its predecessors have been engaged in the contract drilling of oil and gas wells since 1921. As of December 31, 2020, our fleet of 19 drilling rigs consisted of 7 floaters and 12 jackups. We report our contract drilling operations as a single reportable segment, Contract Drilling Services, which reflects how we manage our business. The mobile offshore drilling units comprising our offshore rig fleet operate in a global market for contract drilling services and are often redeployed to different regions due to changing demands of our customers, which consist primarily of large, integrated, independent and government-owned or controlled oil and gas companies throughout the world. On July 31, 2020 (the “Petition Date”), our former parent company, Noble Holding Corporation plc (formerly known as Noble Corporation plc), a public limited company incorporated under the laws of England and Wales (“Legacy Noble” or the “Predecessor”), and certain of its subsidiaries, including Noble Finance Company (formerly known as Noble Corporation), a Cayman Islands company (“Finco”), filed voluntary petitions in the United States Bankruptcy Court for the Southern District of Texas (the “Bankruptcy Court”) seeking relief under chapter 11 of title 11 of the United States Code (the “Bankruptcy Code”). On September 4, 2020, the Debtors (as defined herein) filed with the Bankruptcy Court the Joint Plan of Reorganization of Noble Corporation plc and its Debtor Affiliates, which was subsequently amended on October 8, 2020 and October 13, 2020 and modified on November 18, 2020 (as amended, modified or supplemented, the “Plan”), and the related disclosure statement (the “Disclosure Statement”). On September 24, 2020, six additional subsidiaries of Legacy Noble (together with Legacy Noble and its subsidiaries that filed on the Petition Date, as the context requires, the “Debtors”) filed voluntary petitions in the Bankruptcy Court. The chapter 11 proceedings were jointly administered under the caption Noble Corporation plc, et al. (Case No. 20-33826) (the “Chapter 11 Cases”). On November 20, 2020, the Bankruptcy Court entered an order confirming the Plan. In connection with the Chapter 11 Cases and the Plan, on and prior to the Effective Date (as defined herein), Legacy Noble and certain of its subsidiaries effectuated certain restructuring transactions pursuant to which Legacy Noble formed Noble as an indirect wholly-owned subsidiary of Legacy Noble and transferred to Noble substantially all of the subsidiaries and other assets of Legacy Noble. On February 5, 2021 (the “Effective Date”), the Plan became effective in accordance with its terms and the Debtors emerged from the Chapter 11 Cases. Noble is the successor issuer to Legacy Noble for purposes of and pursuant to Rule 15d-5 of the Exchange Act. References to the “Company,” “we,” “us” or “our” in this Annual Report are to Noble, together with its consolidated subsidiaries, when referring to periods following the Effective Date, and to Legacy Noble, together with its consolidated subsidiaries, when referring to periods prior to the Effective Date. Finco was an indirect, wholly-owned subsidiary of Legacy Noble prior to the Effective Date and has been a direct, wholly-owned subsidiary of Noble, our parent company, since the Effective Date. Noble’s principal asset is all of the shares of Finco. Finco has no public equity outstanding. The consolidated financial statements of Noble include the accounts of Finco, and Noble conducts substantially all of its business through Finco and its subsidiaries. Going Concern A prolonged offshore industry downturn which began in 2014 was further exacerbated throughout 2020 by a steep decline in crude oil demand and crude oil price instability. The severity and length of these industry challenges negatively impacted our liquidity position resulting in higher than previously anticipated free cash flow deficits, increased borrowings and reduced availability under our 2017 Credit Facility (as defined herein), and significantly reduced access to sources of new capital. We actively pursued a variety of transactions and cost-cutting measures during the first half of 2020, including, but not limited to, potential refinancing transactions by us or our subsidiaries, potential capital exchange transactions, and a potential waiver from lenders under, or amendment to, our 2017 Credit Facility. Legacy Noble performed the required assessments in conjunction with the filing of its Form 10-Q for the three months ended March 31, 2020 and determined, at that time, that substantial doubt about its ability to continue as a going concern existed. Subsequent to emergence from the Chapter 11 Cases, Noble performed a reassessment and concluded there was no longer substantial doubt regarding the Noble’s ability to continue as a going concern one year from the date of filing the Noble's Form 10-K for the year ended December 31, 2020. This was primarily due to the cancellation of Legacy Noble’s outstanding debt obligations and increased liquidity with the Exit Credit Agreement (as defined herein). Management’s assessment was based on the relevant conditions that were known and reasonably knowable at the issuance date and included the Noble’s post-emergence financial condition and liquidity sources, forecasted future cash flows, contractual obligations and commitments and other conditions that could adversely affect the Noble’s ability to meet its obligations through one year from the issuance date of the Form 10-K. Principles of Consolidation The consolidated financial statements include our accounts and those of our wholly-owned subsidiaries and entities in which we hold a controlling financial interest. Until December 3, 2019 our consolidated financial statements included the accounts of two joint ventures, in each of which we owned a 50 percent interest. On December 3, 2019, we acquired the remaining 50 percent interest not owned by us and as a result the two joint ventures became our wholly-owned subsidiaries. Our historical ownership interest in the joint ventures met the definition of variable interest under Financial Accounting Standards Board (“FASB”) codification and we determined that we were the primary beneficiary. Intercompany balances and transactions have been eliminated in consolidation. Cash and Cash Equivalents Cash and cash equivalents include cash on hand, demand deposits with banks and all highly liquid investments with original maturities of three months or less. Our cash, cash equivalents and short-term investments are subject to potential credit risk, and certain of our cash accounts carry balances greater than the federally insured limits. Cash and cash equivalents are primarily held by major banks or investment firms. Our cash management and investment policies restrict investments to lower risk, highly liquid securities and we perform periodic evaluations of the relative credit standing of the financial institutions with which we conduct business. Restricted Cash We classify restricted cash balances in current assets if the restriction is expected to expire or otherwise be resolved within one year and in other assets if the restriction is expected to expire or otherwise be resolved in more than one year. As of December 31, 2020 and 2019, our Noble restricted cash balance consisted o f $21.7 million and $1.3 million, respectively. As of December 31, 2020 and 2019, our Finco restricted cash balance consisted o f $1.7 million and $1.3 million , respectively. All restricted cash is recorded in “Prepaid expenses and other current assets.” As of December 31, 2019, our restricted cash balance was associated with our financing of the Noble Johnny Whitstine and Noble Joe Knight . As of December 31, 2020, our restricted cash balance is to comply with restrictions from a Bankruptcy Court order to settle certain professional fees incurred upon or prior to our emergence from bankruptcy. Accounts Receivable We record accounts receivable at the amount we invoice our clients, net of allowance for credit losses. We provide an allowance for uncollectible accounts, as necessary. Our allowance for doubtful accounts as of December 31, 2020 and 2019 was $1.1 million and $1.9 million, respectively. Property and Equipment Property and equipment is stated at cost, reduced by provisions to recognize economic impairment. Major replacements and improvements are capitalized. When assets are sold, retired or otherwise disposed of, the cost and related accumulated depreciation are eliminated from the accounts and the gain or loss is recognized. Drilling equipment and facilities are depreciated using the straight-line method over their estimated useful lives as of the date placed in service or date of major refurbishment. Estimated useful lives of our drilling equipment range from three two Interest is capitalized on long-term construction project using the weighted average cost of debt outstanding during the period of construction. Scheduled maintenance of equipment is performed based on the number of hours operated in accordance with our preventative maintenance program. Routine repair and maintenance costs are charged to expense as incurred; however, the costs of the overhauls and asset replacement projects that benefit future periods and which typically occur every three We evaluate our property and equipment for impairment whenever there are changes in facts that suggest that the value of the asset is not recoverable. As part of this analysis, we make assumptions and estimates regarding future market conditions. When circumstances indicate that the carrying value of the assets may not be recoverable, management compares the carrying value to the expected undiscounted pre-tax future cash flows for the associated rig for which identifiable cash flows are independent of cash flows of other assets. If the expected undiscounted pre-tax future cash flows are lower than the carrying value, the net capitalized costs are reduced to fair value. An impairment loss is recognized to the extent that an asset's carrying value exceeds its estimated fair value. Fair value is generally estimated using a discounted cash flow model. The expected future cash flows used for impairment assessment and related fair value measurements are typically based on judgmental assessments of, but were not limited to, timing of future contract awards and expected operating dayrates, operating costs, utilization rates, discount rates, capital expenditures, reactivation costs, estimated economic useful lives and, in certain cases, our belief that a drilling unit is no longer marketable and is unlikely to return to service in the near to medium term, and considering all available information at the date of assessment. For more detailed information, see “Note 6— Loss on Impairment.” Fair Value Measurements We measure certain of our assets and liabilities based on a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The three-level hierarchy, from highest to lowest level of observable inputs, are as follows: Level 1 - Valuations based on quoted prices in active markets for identical assets; Level 2 - Valuations based on observable inputs that do not meet the criteria for Level 1, including quoted prices in inactive markets and quoted prices in active markets for similar but not identical instruments; and Level 3 - Valuations based on unobservable inputs. Revenue Recognition The activities that primarily drive the revenue earned in our drilling contracts include (i) providing a drilling rig and the crew and supplies necessary to operate the rig, (ii) mobilizing and demobilizing the rig to and from the drill site, and (iii) performing rig preparation activities and/or modifications required for the contract. Consideration received for performing these activities may consist of dayrate drilling revenue, mobilization and demobilization revenue, contract preparation revenue and reimbursement revenue. We account for these integrated services provided within our drilling contracts as a single performance obligation satisfied over time and comprised of a series of distinct time increments in which we provide drilling services. Our standard drilling contracts require that we operate the rig at the direction of the customer throughout the contract term (which is the period we estimate to benefit from the corresponding activities and generally ranges from two The amount estimated for variable consideration may be subject to interrupted or restricted rates and is only included in the transaction price to the extent that it is probable that a significant reversal of previously recognized revenue will not occur throughout the term of the contract (“constrained revenue”). When determining if variable consideration should be constrained, management considers whether there are factors outside the Company’s control that could result in a significant reversal of revenue as well as the likelihood and magnitude of a potential reversal of revenue. These estimates are re-assessed each reporting period as required. Dayrate Drilling Revenue. Our drilling contracts generally provide for payment on a dayrate basis, with higher rates for periods when the drilling unit is operating and lower rates or zero rates for periods when drilling operations are interrupted or restricted. The dayrate invoices billed to the customer are typically determined based on the varying rates applicable to the specific activities performed on an hourly basis. Such dayrate consideration is allocated to the distinct hourly increment it relates to within the contract term, and therefore, recognized in line with the contractual rate billed for the services provided for any given hour. Mobilization/Demobilization Revenue. We may receive fees (on either a fixed lump-sum or variable dayrate basis) for the mobilization and demobilization of our rigs. These activities are not considered to be distinct within the context of the contract and, therefore, the associated revenue is allocated to the overall performance obligation and the associated pre-operating costs are deferred. We record a contract liability for mobilization fees received and a deferred asset for costs. Both revenue and pre-operating costs are recognized ratably over the initial term of the related drilling contract. In most contracts, there is uncertainty as to the amount of expected demobilization revenue due to contractual provisions that stipulate that certain conditions must be present at contract completion for such revenue to be received and as to the amount thereof, if any. For example, contractual provisions may require that a rig demobilize a certain distance before the demobilization revenue is payable or the amount may vary dependent upon whether or not the rig has additional contracted work within a certain distance from the wellsite. Therefore, the estimate for such revenue may be constrained, as described earlier, depending on the facts and circumstances pertaining to the specific contract. We assess the likelihood of receiving such revenue based on past experience and knowledge of the market conditions. In cases where demobilization revenue is expected to be received upon contract completion, it is estimated as part of the overall transaction price at contract inception and recognized in earnings ratably over the initial term of the contract with an offset to an accretive contract asset. Contract Preparation Revenue. Some of our drilling contracts require downtime before the start of the contract to prepare the rig to meet customer requirements. At times, we may be compensated by the customer for such work (on either a fixed lump-sum or variable dayrate basis). These activities are not considered to be distinct within the context of the contract and, therefore, the related revenue is allocated to the overall performance obligation and recognized ratably over the initial term of the related drilling contract. We record a contract liability for contract preparation fees received, which is amortized ratably to contract drilling revenue over the initial term of the related drilling contract. Bonuses, Penalties and Other Variable Consideration. We may receive bonus increases to revenue or penalty decreases to revenue. Based on historical data and ongoing communication with the operator/customer, we are able to reasonably estimate this variable consideration. We will record such estimated variable consideration and re-measure our estimates at each reporting date. For revenue estimated, but not received, we will record to “Prepaid expenses and other current assets” on our Consolidated Balance Sheets. Capital Modification Revenue . From time to time, we may receive fees from our customers for capital improvements to our rigs to meet contractual requirements (on either a fixed lump-sum or variable dayrate basis). Such revenue is allocated to the overall performance obligation and recognized ratably over the initial term of the related drilling contract as these activities are integral to our drilling activities and are not considered to be a stand-alone service provided to the customer within the context of our contracts. We record a contract liability for such fees and recognize them ratably as contract drilling revenue over the initial term of the related drilling contract. Revenues Related to Reimbursable Expenses . We generally receive reimbursements from our customers for the purchase of supplies, equipment, personnel services and other services provided at their request in accordance with a drilling contract or other agreement. Such reimbursable revenue is variable and subject to uncertainty, as the amounts received and timing thereof is highly dependent on factors outside of our influence. Accordingly, reimbursable revenue is constrained revenue and not included in the total transaction price until the uncertainty is resolved, which typically occurs when the related costs are incurred on behalf of a customer. We are generally considered a principal in such transactions and record the associated revenue at the gross amount billed to the customer as “Reimbursables and other” in our Consolidated Statements of Operations. Such amounts are recognized ratably over the period within the contract term during which the corresponding goods and services are to be consumed. Deferred revenues from drilling contracts totaled $59.9 million and $65.1 million at December 31, 2020 and 2019, respectively. Such amounts are included in either “Other current liabilities” or “Other liabilities” in the accompanying Consolidated Balance Sheets, based upon our expected time of recognition. Related expenses deferred under drilling contracts totaled $13.9 million at December 31, 2020 as compared to $30.8 million at December 31, 2019 and are included in either “Prepaid expenses and other current assets,” “Other assets” or “Property and equipment, net” in the accompanying Consolidated Balance Sheets, based upon our expected time of recognition. We record reimbursements from customers for “out-of-pocket” expenses as revenues and the related direct cost as operating expenses. Income Taxes Income taxes are based on the laws and rates in effect in the countries in which operations are conducted or in which we or our subsidiaries are considered resident for income tax purposes. In certain circumstances, we expect that, due to changing demands of the offshore drilling markets and the ability to redeploy our offshore drilling units, certain of such units will not reside in a location long enough to give rise to future tax consequences. As a result, no deferred tax asset or liability has been recognized in these circumstances. Should our expectations change regarding the length of time an offshore drilling unit will be used in a given location, we will adjust deferred taxes accordingly. Deferred tax assets and liabilities are recognized for the anticipated future tax effects of temporary differences between the financial statement basis and the tax basis of our assets and liabilities using the applicable jurisdictional tax rates at year-end. A valuation allowance for deferred tax assets is recorded when it is more likely than not that the deferred tax asset will not be realized in a future period. We operate through various subsidiaries in numerous countries throughout the world, including the United States. Consequently, we are subject to changes in tax laws, treaties or regulations or the interpretation or enforcement thereof in the United States, UK and any other jurisdictions in which we or any of our subsidiaries operate or are resident. Our income tax expense is based upon our interpretation of the tax laws in effect in various countries at the time that the expense was incurred. If the IRS or other taxing authorities do not agree with our assessment of the effects of such laws, treaties and regulations, this could have a material adverse effect on us including the imposition of a higher effective tax rate on our worldwide earnings or a reclassification of the tax impact of our significant corporate restructuring transactions. The Company has adopted an accounting policy to look through the outside basis of partnerships and all other flow-through entities and exclude these from the computation of deferred taxes. Insurance Reserves We maintain various levels of self-insured retention for certain losses including property damage, loss of hire, employment practices liability, employers’ liability and general liability, among others. We accrue for property damage and loss of hire charges on a per event basis. Employment practices liability claims are accrued based on actual claims during the year. Maritime employer’s liability claims are generally estimated using actuarial determinations. General liability claims are estimated by our internal claims department by evaluating the facts and circumstances of each claim (including incurred but not reported claims) and making estimates based upon historical experience with similar claims. At December 31, 2020 and 2019, loss reserves for personal injury and protection claims totaled $30.9 million and $27.9 million, respectively, and such amounts are included in “Other current liabilities” or “Liabilities subject to compromise” in the accompanying Consolidated Balance Sheets. Earnings per Share Our unvested share-based payment awards, which contain non-forfeitable rights to dividends, are participating securities and are included in the computation of earnings per share pursuant to the two-class method. The two-class method allocates undistributed earnings between common shares and participating securities. The diluted earnings per share calculation under the two-class method also includes the dilutive effect of potential shares issued in connection with stock options. The dilutive effect of stock options is determined using the treasury stock method. Share-Based Compensation Plans We record the grant date fair value of share-based compensation arrangements as compensation cost using a straight-line method over the service period. Share-based compensation is expensed or capitalized based on the nature of the employee’s activities. Liability-Classified Awards The Company classified certain awards that will be settled in cash as liability awards. The fair value of a liability-classified award is determined on a quarterly basis beginning at the grant date until final vesting. Changes in the fair value of liability-classified awards are expensed or capitalized based on the nature of the employee’s activities over the vesting period of the award. Litigation Contingencies We are involved in legal proceedings, claims, and regulatory, tax or government inquiries and investigations that arise in the ordinary course of business. Certain of these matters include speculative claims for substantial or indeterminate amounts of damages. We record a liability when we believe that it is both probable that a loss has been incurred and the amount can be reasonably estimated. If we determine that a loss is reasonably possible and the loss or range of loss can be estimated, we disclose the possible loss in the notes to the consolidated financial statements. We review the developments in our contingencies that could affect the amount of the provisions that has been previously recorded, and the matters and related possible losses disclosed. We make adjustments to our provisions and changes to our disclosures accordingly to reflect the impact of negotiations, settlements, rulings, advice of legal counsel, and updated information. Significant judgement is required to determine both the probability and the estimated amount. Foreign Currency Translation Although we are a Cayman Islands company, our functional currency is the US dollar, and we define any non-US dollar denominated currency as “foreign currencies.” In non-US locations where the US Dollar has been designated as the functional currency (based on an evaluation of factors including the markets in which the subsidiary operates, inflation, generation of cash flow, financing activities and intercompany arrangements), local currency transaction gains and losses are included in net income or loss. In non-US locations where the local currency is the functional currency, assets and liabilities are translated at the rates of exchange on the balance sheet date, while statement of operations items are translated at average rates of exchange during the year. The resulting gains or losses arising from the translation of accounts from the functional currency to the US Dollar are included in “Accumulated other comprehensive loss” in the Consolidated Balance Sheets. We did not recognize any material gains or losses on foreign currency transactions or translations during the three years ended December 31, 2020. Discontinued Operations On August 1, 2014, Legacy Noble completed the separation and spin-off of a majority of its standard specification offshore drilling business (the “Spin-off”) through a pro rata distribution of all of the ordinary shares of its wholly-owned subsidiary, Paragon Offshore plc (“Paragon Offshore”), to the holders of Noble’s ordinary shares. Paragon Offshore, which had been reflected as continuing operations in our consolidated financial statements prior to the Spin-off, meets the criteria for being reported as discontinued operations and has been reclassified as such in our results of operations. Prior to the completion of the Spin-off, Legacy Noble and Paragon Offshore entered into a series of agreements to effect the separation and Spin-off and govern the relationship between the parties after the Spin-off (the “Separation Agreements”), including the Master Separation Agreement (the “MSA”) and the Tax Sharing Agreement (the “TSA”). During the year ended December 31, 2019, we recognized charges of $3.8 million recorded in “Net loss from discontinued operations, net of tax” on our Consolidated Statement of Operations relating to settlement of Mexico customs audits from rigs included in the Spin-off. For additional information related to the Spin-off, refer to “Note 16— Commitments and Contingencies.” Certain Significant Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amount of revenues and expenses during the reporting period. Certain accounting policies involve judgments and uncertainties to such an extent that there is reasonable likelihood that materially different amounts could have been reported under different conditions, or if different assumptions had been used. We evaluate our estimates and assumptions on a regular basis. We base our estimates on historical experience and various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates and assumptions used in preparation of our consolidated financial statements. Accounting Pronouncements Accounting Standards Adopted In August 2018, the FASB issued Accounting Standards Update (“ASU”) No. 2018-14, which amends Accounting Standards Codification (“ASC”) Subtopic 715-20, “Compensation — Retirement Benefits — Defined Benefit Plans — General.” This update applies to all employers that sponsor defined benefit pension or other postretirement plans and is part of the disclosure framework project to improve the effectiveness of disclosures in notes to the financial statements. The amendment is effective for fiscal years ending after December 15, 2020. We adopted this standard effective January 1, 2020 and our adoption did not have a material effect on our consolidated financial statements. In June 2016, the FASB issued ASU No. 2016-13 (Topic 326, “Measurement of Credit Losses on Financial Instruments”), which requires changes to the recognition of credit losses on financial instruments not accounted for at fair value through net income, including loans, debt securities, trade receivables, net investments in leases and available-for-sale debt securities. This guidance is effective for annual and interim periods beginning after December 15, 2019. Entities are required to apply the standard’s provisions as a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is adopted. We adopted this standard effective January 1, 2020 and our adoption did not have a material effect on our consolidated financial statements. Recently Issued Accounting Standards In December 2019 , the FASB issued ASU No. 2019 -12, which amends ASC Topic 740, “Income Taxes” This update simplifies the accounting for income taxes by removing certain exceptions to general principles. The amendment is effective for fiscal years beginning after December 15, 2020 and is required to be adopted on a retrospective basis for all periods presented. We do not expect the adoption of this guidance to materially affect our consolidated financial statements. With the exception of the updated standards discussed above, there have been no new accounting pronouncements not yet effective that have significance, or potential significance, to our consolidated financial statements.

Chapter 11 Proceedings

Chapter 11 Proceedings	12 Months Ended
	Dec. 31, 2020
Bankruptcy Proceedings [Abstract]
Chapter 11 Proceedings	Note 2— Chapter 11 Proceedings Bankruptcy Petition and Emergence On the Petition Date, Legacy Noble and certain of its subsidiaries, including Finco, filed voluntary petitions in the Bankruptcy Court seeking relief under chapter 11 of the Bankruptcy Code. In September 2020, the Debtors filed the Plan and the Disclosure Statement with the Bankruptcy Court and six additional subsidiaries of Legacy Noble filed voluntary petitions in the Bankruptcy Court. During the proceedings, the Debtors operated their business as “debtors-in-possession” under the jurisdiction of the Bankruptcy Court pursuant to sections 1107 and 1108 of the Bankruptcy Code and orders of the Bankruptcy Court. To ensure the Debtors’ ability to continue operating in the ordinary course of business, on August 3, 2020, the Bankruptcy Court entered a variety of orders providing “first day” relief to the Debtors, including the authority for the Debtors to continue using their cash management system, pay employee wages and benefits and pay vendors and suppliers in the ordinary course of business. As of the Petition Date, the Company began applying ASC Topic 852, Reorganizations (“ASC 852”). The filing of the Chapter 11 Cases constituted events of default that accelerated the Company’s obligations under the indentures governing its outstanding senior notes and under our 2017 Credit Facility. In addition, the unpaid principal and interest due under our then-outstanding senior notes and 2017 Credit Facility became immediately due and payable. As of December 31, 2020, the estimated claim amounts of our senior notes and the 2017 Credit Facility have been presented as “Liabilities subject to compromise” in our Consolidated Balance Sheet. However, any efforts to enforce such payment obligations with respect to such senior notes and 2017 Credit Facility were automatically stayed as a result of the filing of the Chapter 11 Cases, and the creditors’ rights of enforcement were subject to the applicable provisions of the Bankruptcy Code. As of December 31, 2020, we had an aggregate outstanding principal amount of approximately $3.4 billion in senior notes with stated maturities at various times from 2020 through 2045 and $545.0 million of borrowings outstanding under our 2017 Credit Facility. We elected not to make the semiannual interest payment due in respect of our Senior Notes due 2024 (the “2024 Notes”), which was due on July 15, 2020, and did not make any additional interest payments due on any senior notes through the Effective Date. As a result of the filing of the Chapter 11 Cases, Legacy Noble’s Board of Directors determined to cancel Legacy Noble’s share ownership policy applicable to the officers and directors, and the Company will consider an appropriate policy in due course. On the Petition Date, the Debtors entered into a Restructuring Support Agreement (together with all exhibits and schedules thereto, and as amended by the First Amendment thereto dated as of August 20, 2020, the “Restructuring Support Agreement”) with an ad hoc group of certain holders of approximately 70% of the aggregate outstanding principal amount of the outstanding Senior Notes due 2026 (the “Guaranteed Notes”) and an ad hoc group of certain holders of approximately 45% of the aggregate principal amount of our other then-outstanding senior notes, taken as a whole (the “Legacy Notes”). Legacy Noble entered into a Backstop Commitment Agreement (the “Backstop Commitment Agreement”) with the backstop parties thereto (the “Backstop Parties”) on October 12, 2020, pursuant to which the issuance of the senior secured second lien notes (the “Second Lien Notes”) as part of the rights offering contemplated by the Restructuring Support Agreement and the Plan (the “Rights Offering”) were fully backstopped by the Ad Hoc Guaranteed Group and the Ad Hoc Legacy Group (each as defined in the Restructuring Support Agreement). Participation in the Rights Offering was offered to the holders of the Guaranteed Notes and the Legacy Notes. The Restructuring Support Agreement, among other things, provides that the Consenting Creditors (as defined in the Restructuring Support Agreement) will support the Debtors' restructuring efforts as set forth in, and subject to the terms and conditions of, the Restructuring Support Agreement. The Restructuring Support Agreement contains customary conditions, representations, and warranties of the parties and is subject to a number of conditions, including, among others, the accuracy of the representations and warranties of the parties and compliance with the obligations set forth in the Restructuring Support Agreement. The Restructuring Support Agreement also provides for termination by the parties upon the occurrence of certain events. On the Effective Date, and pursuant to the terms of the Plan, the Company: • Appointed five new members to the Successor’s board of directors to replace all of the directors of the Predecessor, other than the director also serving as President and Chief Executive Officer, who was re-appointed pursuant to the Plan; • Terminated and cancelled all common stock and equity-based awards of Legacy Noble that were outstanding immediately prior to the Effective Date; • Transferred approximately 31.7 million ordinary shares of Noble with a nominal value of $0.00001 per share (“New Shares”) to holders of the Guaranteed Notes in the cancellation of the Guaranteed Notes; • Transferred approximately 2.1 million New Shares, approximately 8.3 million seven-year warrants with Black-Scholes protection (the “Tranche 1 Warrants”) with an exercise price of $19.27 and approximately 8.3 million seven-year warrants with Black-Scholes protection (the “Tranche 2 Warrants”) with an exercise price of $23.13 to holders of the Legacy Notes in cancellation of the Legacy Notes; • Issued approximately 7.7 million New Shares and Second Lien Notes to participants in the Rights Offering at an aggregate subscription price of $200 million; • Issued approximately 5.6 million New Shares to the Backstop Parties as Holdback Securities (as defined in the Backstop Commitment Agreement); • Issued approximately 1.7 million New Shares to the Backstop Parties in respect of their backstop commitment to subscribe for Unsubscribed Securities (as defined in the Backstop Commitment Agreement); • Issued approximately 1.2 million New Shares to the Backstop Parties in connection with the payment of the Backstop Premiums (as defined in the Backstop Commitment Agreement); • Issued 2.8 million five-year warrants with no Black-Scholes protection (the “Tranche 3 Warrants”) with an exercise price of $124.40 to the holders of Legacy Noble’s ordinary shares outstanding prior to the Effective Date; • Entered into a senior secured revolving credit agreement (the “Exit Credit Agreement”) that provides for a $675.0 million senior secured revolving credit facility (with a $67.5 million sublimit for the issuance of letters of credit thereunder) (the “Exit Credit Facility”); • Entered into an exchange agreement with certain Backstop Parties which provided that, as soon as reasonably practicable after the Effective Date, the other parties to such agreement would deliver to the Company an aggregate of approximately 6.5 million New Shares issued pursuant to the Plan in exchange for the issuance of penny warrants to purchase up to approximately 6.5 million New Shares, with an exercise price of $0.01 per share (“Penny Warrants”) which were exchanged on a one-for-one basis for New Shares issued to certain initial holders of New Shares; • Entered into an indenture governing the Second Lien Notes; • Entered into a registration rights agreement with certain parties who received New Shares under the Plan; and • Entered into a registration rights agreement with certain parties who received Second Lien Notes under the Plan. Management Incentive Plan. The Plan contemplated that on or after the Effective Date, (i) the Company would adopt a long-term incentive plan and authorize and reserve 7.7 million New Shares for issuance pursuant to equity incentive awards to be granted under such plan, and (ii) the initial awards under such plan would consist of at least 40% of such shares and be made as soon as practicable after the Effective Date on the terms and conditions as determined by Noble’s Board of Directors; provided that at least 40% of such initial awards would be in the form of time-based vesting awards vesting over a period of no shorter than three years and no longer than four years. As contemplated by the Plan, on February 18, 2021, the Company adopted a long-term incentive plan and authorized and reserved 7.7 million New Shares for issuance pursuant to equity incentive awards to be granted under such plan. Sources of Cash for Plan Distribution. All cash required for payments made by the Company under the Plan on the Effective Date was obtained from cash on hand, proceeds of the Rights Offering, and proceeds of the Exit Credit Facility. Under ASC Topic 852, fresh start accounting is required upon emergence from Chapter 11 if (i) the value of the assets of the emerging entity immediately before the date of confirmation is less than the total of all post-petition liabilities and allowed claims; and (ii) holders of existing voting shares immediately before confirmation receive less than 50% of the voting shares of the emerging entity. The value of the assets of Legacy Noble immediately before the date of confirmation is expected to be less than the total of all postpetition liabilities and allowed claims. Additionally, the holders of the existing voting shares of Legacy Noble immediately before the date of confirmation held less than 50% of the voting shares of Noble. The same test was performed for Finco and yielded the same result. As such, Noble and Finco will adopt fresh start accounting as of the Effective Date. Adopting fresh start accounting results in a new reporting entity with no beginning retained earnings or accumulated deficit. In accordance with ASC Topic 852, with the application of fresh start accounting, the Company will be required to allocate its reorganization value to its individual assets based on their estimated fair values in conformity with ASC Topic 805, “Business Combinations.” The reorganization value represents the fair value of the Successor Company's assets before considering liabilities. The Company is in the process of evaluating the potential impact of the fresh start accounting on its consolidated financial statements. We cannot currently estimate the financial effect of emergence from bankruptcy on our financial statements, although we expect to record material adjustments related to our Plan and the application of fresh start accounting as of the Effective Date. The Company’s financial advisor performed a valuation of the reorganized Company dated as of August 24, 2020. According to the valuation, which was included in the Disclosure Statement related to the Plan, the post-confirmation estimated enterprise value of the Company to be in a range between $1.1 billion and $1.6 billion. The following assumptions were made in the valuation of the projected amounts upon emergence; $430.0 million of debt under the Exit Financing Facility and the Second Lien Notes and cash on hand of $100.0 million. Executory Contracts Subject to certain exceptions, under the Bankruptcy Code, the Debtors may assume, assign, or reject certain executory contracts and unexpired leases subject to the approval of the Bankruptcy Court and certain other conditions. Generally, the rejection of an executory contract or unexpired lease is treated as a pre-petition breach of such executory contract or unexpired lease and, subject to certain exceptions, relieves the Debtors from performing their future obligations under such executory contract or unexpired lease but entitles the contract counterparty or lessor to a pre-petition general unsecured claim for damages caused by such deemed breach. Typically, the assumption of an executory contract or unexpired lease requires the Debtors to cure existing monetary defaults under such executory contract or unexpired lease and provide adequate assurance of future performance. Accordingly, any description of an executory contract or unexpired lease with the Debtors in this Annual Report on Form 10-K, including where applicable a quantification of the Company’s obligations under any such executory contract or unexpired lease of the Debtors, is qualified by any overriding rejection rights the Company has under the Bankruptcy Code. As of December 31, 2020, the Debtors have rejected three immaterial executory contracts and have not rejected any unexpired leases. Claims Reconciliation The Debtors have filed with the Bankruptcy Court schedules and statements setting forth, among other things, the assets and liabilities of each Debtor, subject to the assumptions filed in connection therewith. These schedules and statements may be subject to further amendment or modification after filing. Certain holders of pre-petition claims that are not governmental units were required to file proofs of claim by the deadline for general claims, which was set by the Bankruptcy Court as October 6, 2020 and November 13, 2020 for the initial Debtors that filed on July 31, 2020 (the “Initial Debtors”) and the additional Debtors that filed on September 24, 2020 (the “Additional Debtors”), respectively. The governmental bar date has been set as January 27, 2021 and March 23, 2021, for the Initial Debtors and the Additional Debtors, respectively. The Debtors received approximately 1,200 proofs of claim as of March 5, 2021 for an amount of approximately $23.0 billion. Such amount includes duplicate claims across multiple Debtor legal entities. These claims are being reconciled to amounts recorded in the Debtors’ accounting records. Differences between amounts recorded by the Debtors and claims filed by creditors will be investigated and resolved, at the direction of the Debtors, including through proceedings before the Bankruptcy Court. In addition, the Debtors have been identifying claims that have been amended or superseded, are without merit, are overstated or should be adjusted or expunged for other reasons. As a result of this process, the Debtors may identify additional liabilities that will need to be recorded or reclassified to Liabilities subject to compromise. In light of the number of claims filed, the claims resolution process will continue after the Debtors emerge from bankruptcy. Pre-petition Charges Pre-petition charges consist primarily of legal and other professional advisory fees incurred in relation to the Chapter 11 Cases, but prior to the Petition Date, and are presented as “Pre-petition charges” in our Consolidated Statements of Operations for the year ended December 31, 2020. Reorganization Items, Net In accordance with ASC Topic 852, any incremental expenses, gains and losses that are realized or incurred as of or subsequent to the Petition Date and as a direct result of the Chapter 11 Cases are recorded under “Reorganization items, net”. The following table summarizes the components of reorganization items included in our Consolidated Statements of Operations for the year ended December 31, 2020: Noble Finco December 31, 2020 December 31, 2020 Adjustments for estimated litigation claims (1) (57,000) 4,500 Write-off of debt financing costs and discount 45,469 45,469 Professional fees (1) 37,296 2,644 Revision of estimated claims (1,835) (1,835) Total Reorganization items, net $ 23,930 $ 50,778 (1) Payments of $25.6 million and $5.0 million related to professional fees and the first installment payment for the previously disclosed patent infringement settlement with Transocean Ltd. (“Transocean”) have been presented as cash outflows from operating activities in our Consolidated Statements of Cash Flows for the year ended December 31, 2020 for Noble and Finco, respectively. Liabilities Subject to Compromise Since the Petition Date, the Company operated as a debtor-in-possession under the jurisdiction of the Bankruptcy Court and in accordance with provisions of the Bankruptcy Code. In accordance with ASC 852, on our Balance Sheets, the caption “Liabilities subject to compromise” reflects the expected allowed amount of the pre-petition claims that are not fully secured and that have at least a possibility of not being repaid at the full claim amount. The Company has considered the chapter 11 motions approved by the Bankruptcy Court with respect to the amount and classification of its pre-petition liabilities. However, the determination of the value at which liabilities will ultimately be settled was made on the Effective Date. The Company will evaluate and adjust the amount and classification of its pre-petition liabilities through the Effective Date. The following table summarizes the components of liabilities subject to compromise included on our Consolidated Balance Sheet as of December 31, 2020: Noble Finco December 31, 2020 December 31, 2020 4.900% Senior Notes due August 2020 $ 62,535 $ 62,535 4.625% Senior Notes due March 2021 79,936 79,936 3.950% Senior Notes due March 2022 21,213 21,213 7.750% Senior Notes due January 2024 397,025 397,025 7.950% Senior Notes due April 2025 450,000 450,000 7.875% Senior Notes due February 2026 750,000 750,000 6.200% Senior Notes due August 2040 393,596 393,596 6.050% Senior Notes due March 2041 395,002 395,002 5.250% Senior Notes due March 2042 483,619 483,619 8.950% Senior Notes due April 2045 400,000 400,000 2017 Credit Facility 545,000 545,000 Litigation 93,000 8,000 Accrued and unpaid interest 110,301 110,301 Accounts payable and other liabilities 37,447 37,359 Lease liabilities 20,969 20,969 Total consolidated liabilities subject to compromise $ 4,239,643 $ 4,154,555 Since the filing of the Chapter 11 Cases on the Petition Date, the Company ceased accruing interest on all debt. As a result, the Company did not record $112.9 million of contractual interest expense related to the Guaranteed Notes, Legacy Notes, and 2017 Credit Facility .

Consolidated Joint Ventures

Consolidated Joint Ventures	12 Months Ended
	Dec. 31, 2020
Noncontrolling Interest [Abstract]
Consolidated Joint Ventures	Note 3— Consolidated Joint Ventures On December 3, 2019, we completed a transaction with a subsidiary of Royal Dutch Shell plc (“Shell”), in which Shell bought out the remaining term of its drilling contract for the drillship Noble Bully II for $166.9 million, and we acquired Shell’s 50 percent interests in the Bully I and Bully II joint ventures for $106.7 million. As a result of this transaction, the former joint venture entities became our wholly-owned subsidiaries. Prior to this transaction, we maintained a 50 percent interest in the two joint ventures, each with Shell, that owned and operated the two Bully-class drillships. We had determined that we were the primary beneficiary of the joint ventures. Accordingly, we consolidated the entities in our consolidated financial statements after eliminating intercompany transactions. Shell’s equity interests were presented as noncontrolling interests on our Consolidated Balance Sheets. During the years ended December 31, 2019 and 2018, the Bully joint ventures approved and paid dividends totaling $50.2 million and $55.2 million, respectively. Of these amounts, 50 percent was paid to our former joint venture partner, Shell. During the year ended December 31, 2019, we recognized a $595.5 million impairment charge on the Noble Bully II , of which $265.0 million is attributable to Shell, our former joint venture partner. During the year ended December 31, 2018, we recognized a $550.3 million impairment on the Noble Bully I, of which $250.3 million is attributable to our former joint venture partner. See “Note 6— Loss on Impairment” for additional information.

Loss Per Share

Loss Per Share	12 Months Ended
	Dec. 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 Legacy Noble: Year Ended December 31, 2020 2019 2018 Numerator: Basic Net loss from continuing operations $ (3,978,459) $ (696,769) $ (885,050) Net loss from discontinued operations, net of tax — (3,821) — Net loss attributable to Noble Corporation $ (3,978,459) $ (700,590) $ (885,050) Diluted Net loss from continuing operations $ (3,978,459) $ (696,769) $ (885,050) Net loss from discontinued operations, net of tax — (3,821) — Net loss attributable to Noble Corporation $ (3,978,459) $ (700,590) $ (885,050) Denominator: Weighted average shares outstanding — basic 250,792 248,949 246,614 Weighted average shares outstanding — diluted 250,792 248,949 246,614 Loss per share Basic: Loss from continuing operations $ (15.86) $ (2.79) $ (3.59) Loss from discontinued operations — (0.02) — Net loss attributable to Noble Corporation $ (15.86) $ (2.81) $ (3.59) Diluted: Loss from continuing operations $ (15.86) $ (2.79) $ (3.59) Loss from discontinued operations — (0.02) — Net loss attributable to Noble Corporation $ (15.86) $ (2.81) $ (3.59) Dividends per share $ — $ — $ — Only those items having a dilutive impact on our basic loss per share are included in diluted loss per share. For the years ended December 31, 2020, 2019 and 2018, 6.1 million , 11.9 million and 12.5 million share-based awards, respectively, were excluded from the diluted loss per share since the effect would have been anti-dilutive. On the Effective Date, all issued and outstanding shares of common stock, including all share-based awards, were cancelled and extinguished.

Property and Equipment

Property and Equipment	12 Months Ended
	Dec. 31, 2020
Property, Plant and Equipment [Abstract]
Property and Equipment	Note 5— Property and Equipment Property and equipment, at cost, for Noble consisted of the following: Year Ended December 31, 2020 2019 Drilling equipment and facilities $ 4,476,960 $ 10,014,314 Construction in progress 99,812 88,904 Other 200,925 203,407 Property and equipment, at cost $ 4,777,697 $ 10,306,625 Capital expenditures, including capitalized interest, totaled $148.2 million, $306.4 million and $281.3 million for the years ended December 31, 2020, 2019 and 2018, respectively. During the years ended December 31, 2020, 2019 and 2018, capitalized interest was zero, $9.6 million and $2.9 million, respectively. On February 28, 2019, we purchased a new GustoMSC CJ46 rig, the Noble Joe Knight, from the PaxOcean Group in connection with a concurrently awarded drilling contract in the Middle East region. We paid $83.8 million for the rig, with $30.2 million paid in cash and the remaining $53.6 million of the purchase price financed with a loan by the seller. See “Note 7— Debt” for additional information. During the years ended December 31, 2020, 2019 and 2018, we recognized a non-cash loss on impairment of $3.9 billion, $615.3 million and $802.1 million, respectively, related to our long-lived assets. See “Note 6— Loss on Impairment” for additional information. For the year ended December 31, 2020, we sold six rigs, which had a net book value of $17.1 million for total proceeds of $26.7 million, resulting in a gain of $8.9 million.

Loss on Impairment

Loss on Impairment	12 Months Ended
	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Loss on Impairment	Note 6— Loss on Impairment Asset Impairments As discussed in “Note 1— Organization and Significant Accounting Policies,” during the first quarter of 2020, the pandemic and OPEC+ production level disagreements resulted in an unprecedented steep decline in the demand for oil and a substantial surplus of oil. We considered these events to be an impairment indicator and based on our assumptions and analysis, we impaired the carrying value of four floaters. For our impaired units, the carrying values were written down to scrap value and subsequently sold in late 2020. During the fourth quarter of 2020, the combination of the growing commitments by many of our customers to a transition to cleaner energy options, and the prolonged impacts of the pandemic, the continued oversupply of offshore drilling units placed further downward pressure on global oil demand and on our industry, potentially lengthening what was already expected to be a slow recovery. We considered these events to be an impairment indicator and based on our assumptions and analysis, we impaired the carrying value of three floaters and nine jackups. We estimated the fair values of these units using a weighting between an income valuation approach and a market approach, utilizing significant unobservable inputs, representative of a Level 3 fair value measurement. Assumptions used in our assessment included, but were not limited to, future marketability of each unit in light of the current market conditions and its current technical specifications, timing of future contract awards and expected operating dayrates, operating costs, utilization rates, discount rates, capital expenditures, market values, weighting of market values, reactivation costs, estimated economic useful lives and, in certain cases, our belief that a drilling unit is no longer marketable and is unlikely to return to service in the near to medium term. During the quarters ended March 31, 2020 and December 31, 2020, we recognized non-cash losses on impairment of $1.1 billion and $2.8 billion, respectively, related to certain rigs and related capital spares. If we experience prolonged unfavorable changes to current market conditions, reactivation costs or dayrates or if we are unable to secure new or extended contracts for our rigs, it is reasonably possible that the estimate of undiscounted cash flows may change in the near term, resulting in the need to write down the affected assets to their corresponding estimated fair values. The impact of the current global economic turmoil on our customers’ and our business continues to be uncertain. During the year ended December 31, 2020, we recognized approximately $3.9 billion in impairment charges for seven floaters and nine jackups, and $24.0 million of impairment charges related to certain capital spare equipment. Based upon our impairment analysis, we impaired the carrying values to their corresponding estimated fair values for two floaters , and certain capital spare equipment, which resulted in an impairment charge of approximately $615.3 million for the year ended December 31, 2019. During the year ended December 31, 2019, we recognized a $595.5 million impairment on the Noble Bully II , of which $265.0 million was attributable to our joint venture partner at the time of impairment. See “Note 3— Consolidated Joint Ventures” for additional information. For our impaired units, we estimated the fair value of these units by applying the income valuation approach utilizing significant unobservable inputs, representative of a Level 3 fair value measurement. If we experience unfavorable changes to current market conditions, reactivation costs or dayrates, or we are unable to return cold stacked rigs to service in the anticipated time frame or if we are unable to secure new or extended contracts for our active rigs, it is reasonably possible that the estimate of undiscounted cash flows may change in the near term, resulting in the need to write down the affected assets to their corresponding estimated fair values. Based upon our impairment analysis, we impaired the carrying values to their corresponding estimated fair values for three floaters and two jackups , and certain capital spare equipment. During the year ended December 31, 2018, impairment charges related to these units and certain capital spare equipment were approximately $802.1 million. For our impaired units, we estimated the fair values of these units by applying the income valuation approach utilizing significant unobservable inputs, representative of a Level 3 fair value measurement. During the year ended December 31, 2018, we recognized a $550.3 million impairment on the Noble Bully I, of which $250.3 million was attributable to our joint venture partner at the time of impairment. See “Note 3— Consolidated Joint Ventures” for additional information.

Debt

Debt	12 Months Ended
	Dec. 31, 2020
Debt Disclosure [Abstract]
Debt	Note 7— Debt Pre-emergence Debt 2017 Credit Facility In December 2017, Noble Cayman Limited, a Cayman Islands company and a wholly-owned indirect subsidiary of Finco; Noble International Finance Company, a Cayman Islands company and a wholly-owned indirect subsidiary of Finco; and Noble Holding UK Limited, a company incorporated under the laws of England and Wales and a wholly-owned direct subsidiary of Legacy Noble (“NHUK”), as parent guarantor, entered into a senior unsecured credit agreement (as amended, the “2017 Credit Facility”). In July 2019, we executed a first amendment to our 2017 Credit Facility, which, among other things, reduced the maximum aggregate amount of commitments thereunder from $1.5 billion to $1.3 billion. As a result of such reduction in the maximum aggregate amount of commitments, we recognized a net loss of approximately $0.7 million in the year ended December 31, 2019. Prior to the filing of the Chapter 11 Cases, the 2017 Credit Facility was scheduled to mature in January 2023. Borrowings were available for working capital and other general corporate purposes. The 2017 Credit Facility provided for a letter of credit sub-facility in the amount of $15.0 million, with the ability to increase such amount up to $500.0 million with the approval of the lenders. The 2017 Credit Facility had provisions that varied the applicable interest rates for borrowings based upon our debt ratings. Borrowings under the 2017 Credit Facility bore interest at LIBOR plus an applicable margin. NHUK guaranteed the obligations of the borrowers under the 2017 Credit Facility. In addition, certain indirect subsidiaries of Legacy Noble that owned rigs were guarantors under the 2017 Credit Facility. In April 2020, we borrowed $100.0 million under the 2017 Credit Facility to pay down our indebtedness under the Seller Loans (as defined herein) as further described below. At December 31, 2020, we had $545.0 million o f borrowings outstanding under the 2017 Credit Facility. At December 31, 2020, we had $8.8 million of letters of credit issued under the 2017 Credit Facility and an additional $6.0 million in letters of credit and surety bonds issued under unsecured or cash collateralized bilateral arrangements. The filing of the Chapter 11 Cases constituted events of default that accelerated the Company’s obligations under the indentures governing our outstanding senior notes and under our 2017 Credit Facility. In addition, the unpaid principal and interest due under our indentures and the 2017 Credit Facility became immediately due and payable. However, any efforts to enforce such payment obligations with respect to our senior notes and 2017 Credit Facility were automatically stayed as a result of the filing of the Chapter 11 Cases, and the creditors’ rights of enforcement were subject to the applicable provisions of the Bankruptcy Code. See “Note 1— Organization and Basis of Presentation” for additional information. On the Effective Date, all outstanding obligations under the 2017 Credit Facility were terminated and the holders of claims under the 2017 Credit Facility had such obligations refinanced through the Exit Credit Facility. On the Effective Date, all liens and security interests granted to secure such obligations were terminated and are of no further force and effect. 2015 Credit Facility Effective January 2018, in connection with entering into the 2017 Credit Facility, we amended our $300.0 million senior unsecured credit facility that would have matured in January 2020 and was guaranteed by our indirect, wholly-owned subsidiaries, Noble Holding (U.S.) LLC and Noble Holding International Limited (“NHIL”), a finance subsidiary of Finco, (as amended, the “2015 Credit Facility”). As a result of the 2015 Credit Facility's reduction in the aggregate principal amount of commitments, we recognized a net loss of approximately $2.3 million in the year ended December 31, 2018. On December 20, 2019, we repaid $300.0 million of outstanding borrowings and terminated the 2015 Credit Facility. Seller Loans In February 2019, we purchased the Noble Joe Knight for $83.8 million with a $53.6 million seller-financed secured loan (the “2019 Seller Loan”). The 2019 Seller Loan had a term of four years and required a 5% principal payment at the end of the third year with the remaining 95% of the principal due at the end of the term. The 2019 Seller Loan bore a cash interest rate of 4.25% and the equivalent of a 1.25% interest rate paid-in-kind over the four In September 2018, we purchased the Noble Johnny Whitstine for $93.8 million with a $60.0 million seller-financed secured loan (the “2018 Seller Loan” and, together with the 2019 Seller Loan, the “Seller Loans”). The 2018 Seller Loan had a term of four years and required a 5% principal payment at the end of the third year with the remaining 95% of the principal due at the end of the term. The 2018 Seller Loan bore a cash interest rate of 4.25% and the equivalent of a 1.25% interest rate paid-in-kind over the four Both of the Seller Loans were guaranteed by Finco and each was secured by a mortgage on the applicable rig and by the pledge of the shares of the applicable single-purpose entity that owned the relevant rig. Each Seller Loan contained a debt to total capitalization ratio requirement that such ratio not exceed 0.55 at the end of each fiscal quarter, a $300.0 million minimum liquidity financial covenant and an asset and revenue covenant substantially similar to the Guaranteed Notes, as well as other covenants and provisions customarily found in secured transactions, including a cross-default provision. Each Seller Loan required immediate repayment on the occurrence of certain events, including the termination of the drilling contract associated with the relevant rig or circumstances in connection with a material adverse effect. In April 2020, the Company agreed with the lender under the Seller Loans to pay off 85% of the outstanding principal amount of the Seller Loans in exchange for a discount to the outstanding loan balance. On April 20, 2020, the Company made a payment of $48.1 million under the 2019 Seller Loan and $53.6 million under the 2018 Seller Loan, and, upon the lender’s receipt of such payment, interest ceased accruing, and the financial covenants set forth in the agreements relating to the Seller Loans ceased to apply. On July 20, 2020, at the conclusion of the 90-day period following the payment date, all outstanding amounts were reduced to zero, all security was released, and the Seller Loans were terminated. As a result of the early repayment of the Seller Loans and the conclusion of the 90-day period following the payment date, we recognized gains of approximately and $17.3 million in the year ended December 31, 2020. Senior Notes In March 2019, we completed cash tender offers for our Senior Notes due 2020, Senior Notes due 2021, Senior Notes due 2022 and Senior Notes due 2024. Pursuant to such tender offers, we purchased $440.9 million aggregate principal amount of these senior notes for $400.0 million, plus accrued interest, using cash on hand and borrowings under the 2015 Credit Facility. As a result of these transactions, we recognized a net gain of approximately $31.3 million. On the Effective Date, in accordance with the Plan, all outstanding obligations under our senior notes were cancelled and the indentures governing such obligations were cancelled, except to the limited extent expressly set forth in the Plan. Fair Value of Debt Fair value represents the amount at which an instrument could be exchanged in a current transaction between willing parties. The estimated fair value of our debt instruments was based on the quoted market prices for similar issues or on the current rates offered to us for debt of similar remaining maturities (Level 2 measurement). All remaining fair value disclosures are presented in “Note 15— Fair Value of Financial Instruments.” The following table presents the carrying value, net of unamortized debt issuance costs and discounts, and the estimated fair value of our total debt, not including the effect of unamortized debt issuance costs, respectively: December 31, 2020 (1) December 31, 2019 Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value Senior unsecured notes 4.900% Senior Notes due August 2020 $ 62,535 $ 1,366 $ 62,505 $ 60,660 4.625% Senior Notes due March 2021 79,936 1,596 79,854 64,262 3.950% Senior Notes due March 2022 21,213 354 21,181 12,170 7.750% Senior Notes due January 2024 397,025 7,925 389,800 211,035 7.950% Senior Notes due April 2025 450,000 8,348 446,962 228,515 7.875% Senior Notes due February 2026 750,000 301,935 739,371 546,353 6.200% Senior Notes due August 2040 393,596 7,966 390,526 149,134 6.050% Senior Notes due March 2041 395,002 7,327 389,809 142,646 5.250% Senior Notes due March 2042 483,619 9,701 478,122 176,265 8.950% Senior Notes due April 2045 400,000 7,420 390,763 164,664 Seller loans: Seller-financed secured loan due September 2022 — — 62,453 36,968 Seller-financed secured loan due February 2023 — — 55,658 31,175 Credit facility: 2017 Credit Facility due to mature January 2023 545,000 545,000 335,000 335,000 Total debt 3,977,926 898,938 3,842,004 2,158,847 Less: Current maturities of long-term debt — — 62,505 60,660 Long-term debt (2) $ — $ — $ 3,779,499 $ 2,098,187 (1) Includes write-off of applicable deferred financing cost and discounts of $45.5 million. See “Note 2— Chapter 11 Proceedings” for additional information. (2) All of our long-term debt as of December 31, 2020 has been presented as “Liabilities subject to compromise”. See “Note 2— Chapter 11 Proceedings” for additional information. As discussed in “Note 1— Organization and Basis of Presentation,” since the Petition Date, the Company operated as a debtor-in-possession under the jurisdiction of the Bankruptcy Court and in accordance with provisions of the Bankruptcy Code. Accordingly, all of our long-term debt obligations have been presented as “Liabilities subject to compromise” on our Consolidated Balance Sheet at December 31, 2020. On the Effective Date, in accordance with the Plan, all outstanding obligations under our senior notes were cancelled and the indentures governing such obligations were cancelled, except to the limited extent expressly set forth in the Plan. See “Note 2— Chapter 11 Proceedings” for additional information. Post-emergence Debt Senior Secured Exit Revolving Credit Facility On the Effective Date, Finco and Noble International Finance Company (“NIFCO”) entered into the Exit Credit Agreement providing for the $675.0 million Exit Credit Facility and canceled all debt that existed immediately prior to the Effective Date. The Exit Credit Facility matures on July 31, 2025. Subject to the satisfaction of certain conditions, Finco may from time to time designate one or more of Finco’s other wholly-owned subsidiaries as additional borrowers under the Exit Credit Agreement (collectively with Finco and NIFCO, the “Borrowers”). As of the Effective Date, $177.5 million of loans were outstanding, and $8.8 million of letters of credit were issued, under the Exit Credit Facility. All obligations of the Borrowers under the Exit Credit Agreement, certain cash management obligations and certain swap obligations are unconditionally guaranteed, on a joint and several basis, by Finco and certain of its direct and indirect subsidiaries (collectively with the Borrowers, the “Credit Parties”), including a guarantee by each Borrower of the obligations of each other Borrower under the Exit Credit Agreement. All such obligations, including the guarantees of the Exit Credit Facility, are secured by senior priority liens on substantially all assets of, and the equity interests in, each Credit Party, including all of the rigs owned by the Company as of the Effective Date or acquired thereafter and certain assets related thereto, in each case, subject to certain exceptions and limitations described in the Exit Credit Agreement. The loans outstanding under the Exit Credit Facility bear interest at a rate per annum equal to the applicable margin plus, at Finco’s option, either: (i) the reserve-adjusted LIBOR or (ii) a base rate, determined as the greatest of (x) the prime loan rate as published in the Wall Street Journal, (y) the federal funds effective rate plus 1⁄2 of 1%, and (z) the reserve-adjusted one-month LIBOR plus 1%. The applicable margin is initially 4.75% per annum for LIBOR loans and 3.75% per annum for base rate loans and will be increased by 50 basis points after July 31, 2024, and may be increased by an additional 50 basis points under certain conditions described in the Exit Credit Agreement. The Borrowers are required to pay a quarterly commitment fee to each lender under the Exit Credit Agreement, which accrues at a rate per annum equal to 0.50% on the average daily unused portion of such lender’s commitments under the Exit Credit Facility. The Borrowers are also required to pay customary letter of credit and fronting fees. Borrowings under the Exit Credit Agreement may be used for working capital and other general corporate purposes. Availability of borrowings under the Exit Credit Agreement is subject to the satisfaction of certain conditions, including restrictions on borrowings if, after giving effect to any such borrowings and the application of the proceeds thereof, (i) the aggregate amount of Available Cash (as defined in the Exit Credit Agreement) would exceed $100 million, (ii) the Consolidated First Lien Net Leverage Ratio (as defined in the Exit Credit Agreement) would be greater than 5.50 to 1.00 and the aggregate principal amount outstanding under the Exit Credit Facility would exceed $610 million, or (iii) the Asset Coverage Ratio (as described below) would be less than 2.00 to 1.00. Mandatory prepayments and, under certain circumstances, commitment reductions are required under the Exit Credit Facility in connection with (i) certain asset sales, asset swaps and events of loss (subject to reinvestment rights if no event of default exists) and (ii) certain debt issuances. Available Cash in excess of $150 million is also required to be applied periodically to prepay loans (without a commitment reduction). The loans under the Exit Credit Facility may be voluntarily prepaid, and the commitments thereunder voluntarily terminated or reduced, by the Borrowers at any time without premium or penalty, other than customary breakage costs. The Exit Credit Agreement obligates Finco and its restricted subsidiaries to comply with the following financial maintenance covenants: • as of the last day of each fiscal quarter in 2021, Adjusted EBITDA (as defined in the Exit Credit Agreement) is not permitted to be lower than (i) $70 million for the four fiscal quarter period ending March 31, 2021, (ii) $40 million for the four fiscal quarter period ending June 30, 2021 and (iii) $25 million for the four fiscal quarter periods ending on each of September 30, 2021 and December 31, 2021; • as of the last day of each fiscal quarter ending on or after March 31, 2022, the ratio of Adjusted EBITDA to Cash Interest Expense (as defined in the Exit Credit Agreement) is not permitted to be less than (i) 2.00 to 1.00 for each four fiscal quarter period ending on or after March 31, 2022 until June 30, 2024, and (ii) 2.25 to 1.00 for each four fiscal quarter period ending thereafter; and • for each fiscal quarter ending on or after June 30, 2021, the ratio of (x) Asset Coverage Aggregate Rig Value (as defined in the Exit Credit Agreement) to (y) the aggregate principal amount of loans and letters of credit outstanding under the Exit Credit Facility (the “Asset Coverage Ratio”) as of the last day of any such fiscal quarter is not permitted to be less than 2.00 to 1.00. The Exit Credit Facility contains affirmative and negative covenants, representations and warranties and events of default that the Company considers customary for facilities of this type. Second Lien Notes Indenture On the Effective Date, pursuant to the Backstop Commitment Agreement and in accordance with the Plan, Noble and Finco consummated the Rights Offering of Second Lien Notes and associated New Shares at an aggregate subscription price of $200.0 million. On the Effective Date, Finco issued an aggregate principal amount of $216 million of Second Lien Notes, which includes the aggregate subscription price of $200.0 million plus a backstop fee of $16.0 million which was paid in kind. The Second Lien Notes mature on February 15, 2028. The Second Lien Notes are fully and unconditionally guaranteed, jointly and severally, on a senior secured second-priority basis, by the direct and indirect subsidiaries of Finco that are Credit Parties under the Exit Credit Facility. The Second Lien Notes and such guarantees are secured by senior priority liens on the assets subject to liens securing the Exit Credit Facility, including the equity interests in Finco and each guarantor of the Second Lien Notes, all of the rigs owned by the Company as of the Effective Date or acquired thereafter, certain assets related thereto, and substantially all other assets of Finco and such guarantors, in each case, subject to certain exceptions and limitations. Interest on the Second Lien Notes accrues, at Finco’s option, at a rate of: (i) 11% per annum, payable in cash; (ii) 13% per annum, with 50% of such interest to be payable in cash and 50% of such interest to be payable by issuing additional Second Lien Notes (“PIK Notes”); or (iii) 15% per annum, with the entirety of such interest to be payable by issuing PIK Notes. Finco shall pay interest semi-annually in arrears on February 15 and August 15 of each year, commencing August 15, 2021. On or after February 15, 2024, Finco may redeem all or part of the Second Lien Notes at fixed redemption prices (expressed as percentages of the principal amount), plus accrued and unpaid interest, if any, to, but excluding, the redemption date. Finco may also redeem the Second Lien Notes, in whole or in part, at any time and from time to time on or before February 14, 2025 at a redemption price equal to 106% of the principal amount plus accrued and unpaid interest, if any, to, but excluding, the applicable redemption date, plus a “make-whole” premium. Notwithstanding the foregoing, if a Change of Control (as defined in the Second Lien Notes Indenture) occurs prior to (but not including) February 15, 2024, then, within 120 days of such Change of Control, Finco may elect to purchase all remaining outstanding Second Lien Notes at a redemption price equal to 106% of the principal amount, plus accrued and unpaid interest, if any, to, but excluding, the applicable redemption date. The Second Lien Notes contain covenants and events of default that the Company considers customary for notes of this type.

Equity

Equity	12 Months Ended
	Dec. 31, 2020
Equity [Abstract]
Equity	Note 8— Equity Share Capital As of December 31, 2020, Noble had approximately 251.1 million shares outstanding and trading as compared to approximately 249.2 million shares outstanding and trading at December 31, 2019. At Legacy Noble’s 2020 Annual General Meeting, Legacy Noble’s shareholders authorized its Board of Directors to increase share capital through the issuance of up to approximately 8.7 million ordinary shares (at then current nominal value of $0.01 per share). That authority to allot shares has expired on the Effective Date. Other than shares issued to Legacy Noble’s directors under the Noble Corporation 2017 Director Omnibus Plan, the authority was not used to allot shares during the year ended December 31, 2020. Pursuant to the Memorandum of Association of Noble Corporation, the share capital of Noble is $6,000 divided into 500,000,000 ordinary shares of a par value of $0.00001 each and 100,000,000 shares of a par value of $0.00001, each of such class or classes having the rights as the Board may determine from time to time. The declaration and payment of dividends required the authorization of the Board of Directors of Legacy Noble, provided that such dividends on issued share capital may be paid only out of Legacy Noble’s “distributable reserves” on its statutory balance sheet in accordance with UK law. Therefore, Legacy Noble was 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 current Board of Directors; however, at this time, we do not expect to pay any dividends in the foreseeable future. In accordance with the Plan, all agreements, instruments and other documents evidencing, relating to or otherwise connected with any of Legacy Noble’s equity interests outstanding prior to the Effective Date, including all equity-based awards, were cancelled and all such equity interests have no further force or effect after the Effective Date. Pursuant to the Plan, the holders of Legacy Noble’s ordinary shares, par value $0.01 per share, outstanding prior to the Effective Date received their pro rata share of the Tranche 3 Warrants to acquire New Shares. Share Repurchases Under UK law, Legacy Noble was 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 of Legacy Noble and there is currently no share repurchase plan in place for the Successor. During the years ended December 31, 2020, 2019 and 2018, we did not repurchase any of our shares. Share-Based Compensation Plans Stock Plans During 2015, Noble Corporation shareholders approved a new equity plan, the Noble Corporation plc 2015 Omnibus Incentive Plan (the “Noble Incentive Plan”), which permits grants of options, stock appreciation rights (“SARs”), stock or stock unit awards or cash awards, any of which may be structured as a performance award, from time to time to employees who are to be granted awards under the Noble Incentive Plan. Neither consultants nor non-employee directors are eligible for awards under the Noble Incentive Plan. The Noble Incentive Plan replaced the Noble Corporation 1991 Stock Options and Restricted Stock Plan, as amended (the “1991 Plan”). The 1991 Plan was terminated, and equity awards have thereafter only been made under the Noble Incentive Plan. Stock option awards previously granted under the 1991 Plan remain outstanding in accordance with their terms. During 2020, 2019 and 2018, the Noble Incentive Plan was restated and shareholders approved amendments, primarily to increase the number of ordinary shares available for issuance as long-term incentive compensation under the Noble Incentive Plan by 8.7 million, 5.8 million and 5.0 million shares, respectively. The maximum aggregate number of ordinary shares that may be granted for any and all awards under the Noble Incentive Plan will not exceed 40.0 million shares and at December 31, 2020, we had 25.0 million shares remaining available for grants to employees. During 2017, upon shareholder approval, the Noble Corporation 2017 Director Omnibus Plan (the “Director Plan”) replaced the previous plans that were terminated. Equity awards to our non-employee directors have thereafter only been made under the Director Plan. No awards made under previous plans remain outstanding. During 2019, shareholders approved amendments to increase the number of ordinary shares available for issuance under the Director Plan by 0.9 million shares, bringing the maximum aggregate number of ordinary shares that may be granted for any and all awards under the Director Plan to 1.8 million shares. A t December 31, 2020, we had 1.0 million sh ares remaining for grants to non-employee directors. Stock Options Options have a term of 10 years, an exercise price equal to the fair market value of a share on the date of grant and generally vest over a three-year period. A summary of the status of stock options granted under the 1991 Plan as of December 31, 2020, 2019 and 2018 and the changes during the year ended on those dates is presented below: 2020 2019 2018 Number of Weighted Number of Weighted Number of Weighted Outstanding at beginning of year 708,400 $ 30.90 1,103,242 $ 28.74 1,313,155 $ 29.51 Expired (152,245) 32.78 (394,842) 24.85 (209,913) 33.56 Outstanding at end of year (1) 556,155 30.39 708,400 30.90 1,103,242 28.74 Exercisable at end of year (1) 556,155 $ 30.39 708,400 $ 30.90 1,103,242 $ 28.74 (1) Options outstanding and exercisable at December 31, 2020 had no intrinsic value. The following table summarizes additional information about stock options outstanding at December 31, 2020: Options Outstanding and Exercisable Number of Weighted Weighted $20.49 to $25.41 53,934 1.02 $ 25.41 $25.42 to $30.59 277,177 1.09 30.59 $30.60 to $32.78 225,044 0.10 31.33 Total 556,155 0.68 $ 30.39 The fair value of each option is estimated on the date of grant using a Black-Scholes pricing model. The expected term of options granted represents the period of time that the options are expected to be outstanding and is derived from historical exercise behavior, current trends and values derived from lattice-based models. Expected volatilities are based on implied volatilities of traded options on our shares, historical volatility of our shares, and other factors. The expected dividend yield is based on historical yields on the date of grant. The risk-free rate is based on the US Treasury yield curve in effect at the time of grant. There were no non-vested stock option balances at December 31, 2020 or any changes during the year ended December 31, 2020. No new stock options were granted during the years ended December 31, 2020, 2019 and 2018. There was no compensation cost recognized during the years ended December 31, 2020, 2019 and 2018 related to stock options. All outstanding options were cancelled as a result of the Chapter 11 Cases. Restricted Stock Units (“RSUs”) We have awarded both Time Vested (“TVRSUs”) and Performance Vested (“PVRSUs”) RSUs under the Noble Incentive Plan. The TVRSUs generally vest over a three-year period. The number of PVRSUs which vest will depend on the degree of achievement of specified corporate performance criteria over a three-year performance period. Depending on the date the PVRSU was awarded, these criteria consist of market based criteria or market and performance based criteria. The TVRSUs are valued on the date of award at our underlying share price. The total compensation for units that ultimately vest is recognized over the service period. The shares and related nominal value are recorded when the restricted stock unit vests and additional paid-in capital is adjusted as the share-based compensation cost is recognized for financial reporting purposes. The market-based PVRSUs are valued on the date of grant based on the estimated fair value. Estimated fair value is determined based on numerous assumptions, including an estimate of the likelihood that our stock price performance will achieve the targeted thresholds and the expected forfeiture rate. The fair value is calculated using a Monte Carlo Simulation Model. The assumptions used to value the PVRSUs include historical volatility and risk-free interest rates over a time period commensurate with the remaining term prior to vesting, as follows: 2020 2019 2018 Valuation assumptions: Expected volatility 69.8 % 59.6 % 61.8 % Risk-free interest rate 1.40 % 2.50 % 2.31 % Additionally, similar assumptions were made for each of the companies included in the defined index and the peer group of companies in order to simulate the future outcome using the Monte Carlo Simulation Model. A summary of the RSUs awarded for each of the years ended December 31, 2020, 2019 and 2018 is as follows: 2020 2019 2018 TVRSU Units awarded 5,559,678 4,639,119 3,578,212 Weighted-average share price at award date $ 0.82 $ 3.02 $ 4.71 Weighted-average vesting period (years) 3.0 3.0 3.0 PVRSU Units awarded 2,696,774 1,623,399 2,733,906 Weighted-average share price at award date $ 0.91 $ 3.13 $ 4.55 Three-year performance period ended December 31 2022 2021 2020 Weighted-average award date fair value $ 1.14 $ 3.61 $ 2.96 During the years ended December 31, 2020, 2019 and 2018, we awarded zero, 280,635 and 267,204 shares, respectively, to our non-employee directors. A summary of the status of non-vested RSUs at December 31, 2020 and changes during the year ended December 31, 2020 is presented below: TVRSUs Weighted PVRSUs Outstanding (1) Weighted Non-vested RSUs at January 1, 2020 6,329,029 $ 3.89 4,854,352 $ 3.56 Awarded 5,559,678 0.82 2,696,774 1.14 Vested (2,924,900) 4.24 (1,063,242) 4.37 Forfeited (6,601,307) 1.19 (3,324,771) 1.67 Non-vested RSUs at December 31, 2020 2,362,500 $ 3.43 3,163,113 $ 3.22 (1) For awards granted prior to 2019, the number of PVRSUs shown equals the units that would vest if the “maximum” level of performance is achieved. The minimum number of units is zero and the “target” level of performance is 50 percent of the amounts shown. For awards granted during 2020 and 2019, the number of PVRSUs shown equals the units that would vest if the “target” level of performance is achieved. The minimum number of units is zero and the “maximum” level of performance is 200 percent of the amounts shown. At December 31, 2020, there wa s $3.5 million of total unrecognized compensation cost related to the TVRSUs, to be recognized over a remaining weighted-average period of 0.9 years. The total award-date fair value of TVRSUs vested during the year ended December 31, 2020 was $12.4 million. At December 31, 2020, there was $1.7 million of total unrecognized compensation cost related to the PVRSUs, to be recognized over a remaining weighted-average period of 0.5 years. The total potential compensation for PVRSUs is recognized over the service period regardless of whether the performance thresholds are ultimately achieved. Share-based amortization recognized during the years ended December 31, 2020, 2019 and 2018 related to all restricted stock totaled $9.2 million ($8.6 million net of income tax), $14.7 million ($14.1 million net of income tax) and $24.0 million ($21.9 million net of income tax), respectively. During the years ended December 31, 2020, 2019 and 2018, capitalized share-based amortization was zero. All outstanding shares and equity awards were cancelled as a result of the Chapter 11 Cases. Liability-Classified Cash Incentive Awards In 2020, the Company granted cash incentive awards that vest over a three-year period and the final cash payment depends on the degree of achievement of specified corporate performance criteria over a three-year performance period. These criteria consist of market based criteria or market and performance based criteria. These awards were valued on the date of grant based on the estimated fair value. Estimated fair value is determined based on numerous assumptions, including an estimate of the likelihood that our stock price performance will achieve the targeted thresholds and the expected forfeiture rate. The fair value is calculated using a Monte Carlo Simulation Model. The assumptions used to value the awards include historical volatility of 69.8% and a risk-free interest rate of 1.4% over a time period commensurate with the remaining term prior to vesting. Additionally, similar assumptions were made for each of the companies included in the defined index and the peer group of companies in order to simulate the future outcome using the Monte Carlo Simulation Model. A summary of the status of non-vested RSUs at December 31, 2020 and changes during the year ended December 31, 2020 is presented below: Number of Awards Weighted Non-vested Liability-Classified Award at January 1, 2020 — $ — Awarded 3,619,000 0.77 Vested (1) (2,401,362) 0.77 Forfeited (1,217,638) 0.77 Non-vested Liability-Classified Awards at December 31, 2020 — $ — (1) As of December 31, 2020, approximately 91,362 awards are still outstanding and fully vested. The remaining balance of the vested awards were cancelled and replaced as part of the 2020 Other Cash Award Plan. All outstanding shares and equity awards were cancelled as a result of the Chapter 11 Cases.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	12 Months Ended
	Dec. 31, 2020
Equity [Abstract]
Accumulated Other Comprehensive Income (Loss)	Note 9— Accumulated Other Comprehensive Income (Loss) The following table presents the changes in the accumulated balances for each component of “Accumulated other comprehensive income (loss)” for the years ended December 31, 2020 and 2019. All amounts within the tables are shown net of tax. Defined Benefit Pension Items (1) Foreign Currency Items Total Balance at December 31, 2018 $ (39,058) $ (18,014) $ (57,072) Activity during period: Other comprehensive loss before reclassifications — 260 260 Amounts reclassified from AOCI (1,577) — (1,577) Net other comprehensive loss (1,577) 260 (1,317) Balance at December 31, 2019 $ (40,635) $ (17,754) $ (58,389) Activity during period: Other comprehensive income before reclassifications — (521) (521) Amounts reclassified from AOCI 898 — 898 Net other comprehensive income (loss) 898 (521) 377 Balance at December 31, 2020 $ (39,737) $ (18,275) $ (58,012) (1) Defined benefit pension items relate to actuarial changes and the amortization of prior service costs. Reclassifications from AOCI are recognized as expense on our Consolidated Statements of Operations through “Other income (expense).” See “Note 13— Employee Benefit Plans” for additional information.

Revenue and Customers

Revenue and Customers	12 Months Ended
	Dec. 31, 2020
Revenue from Contract with Customer [Abstract]
Revenue and Customers	Note 10— Revenue and Customers Contract Balances Accounts receivable are recognized when the right to consideration becomes unconditional based upon contractual billing schedules. Payment terms on invoiced amounts are typically 30 days. Current contract asset and liability balances are included in “Prepaid expenses and other current assets” and “Other current liabilities,” respectively, and noncurrent contract assets and liabilities are included in “Other assets” and “Other liabilities,” respectively, on our Consolidated Balance Sheets. The following table provides information about contract assets and contract liabilities from contracts with customers: December 31, 2020 December 31, 2019 Current contract assets $ 10,687 $ 21,292 Noncurrent contract assets 3,174 9,508 Total contract assets 13,861 30,800 Current contract liabilities (deferred revenue) (34,990) (34,196) Noncurrent contract liabilities (deferred revenue) (24,896) (30,859) Total contract liabilities $ (59,886) $ (65,055) Significant changes in the remaining performance obligation contract assets and the contract liabilities balances for the years ended December 31, 2020 and 2019 are as follows: Contract Assets Contract Liabilities Net balance at December 31, 2018 $ 47,664 $ (80,753) Amortization of deferred costs (39,936) — Additions to deferred costs 23,072 — Amortization of deferred revenue — 65,312 Additions to deferred revenue — (49,614) Total (16,864) 15,698 Net balance at December 31, 2019 $ 30,800 $ (65,055) Amortization of deferred costs (27,043) — Additions to deferred costs 10,104 — Amortization of deferred revenue — 57,915 Additions to deferred revenue — (52,746) Total (16,939) 5,169 Net balance at December 31, 2020 $ 13,861 $ (59,886) Contract Costs Certain direct and incremental costs incurred for upfront preparation, initial rig mobilization and modifications are costs of fulfilling a contract and are recoverable. These recoverable costs are deferred and amortized ratably to contract drilling expense as services are rendered over the initial term of the related drilling contract. Certain of our contracts include capital rig enhancements used to satisfy our performance obligations. These capital items are capitalized and depreciated in accordance with our existing property and equipment accounting policy. Costs incurred for the demobilization of rigs at contract completion are recognized as incurred during the demobilization process. Costs incurred for rig modifications or upgrades required for a contract, which are considered to be capital improvements, are capitalized as drilling and other property and equipment and depreciated over the estimated useful life of the improvement. Transaction Price Allocated to the Remaining Performance Obligations The following table reflects revenue expected to be recognized in the future related to unsatisfied performance obligations, by rig type, at the end of the reporting period: Year Ending December 31, 2021 2022 2023 2024 2025 and beyond Total Floaters $ 27,005 $ 13,487 $ 9,199 $ 915 $ — $ 50,606 Jackups 7,539 1,741 — — — 9,280 Total $ 34,544 $ 15,228 $ 9,199 $ 915 $ — $ 59,886 The revenue included above consists of expected mobilization, demobilization, and upgrade revenue for unsatisfied performance obligations. The amounts are derived from the specific terms within drilling contracts that contain such provisions, and the expected timing for recognition of such revenue is based on the estimated start date and duration of each respective contract based on information known at December 31, 2020. The actual timing of recognition of such amounts may vary due to factors outside of our control. We have taken the optional exemption, permitted by accounting standards, to exclude disclosure of the estimated transaction price related to the variable portion of unsatisfied performance obligations at the end of the reporting period, as our transaction price is based on a single performance obligation consisting of a series of distinct hourly, or more frequent, periods, the variability of which will be resolved at the time of the future services. Disaggregation of Revenue The following table provides information about contract drilling revenue by rig types: Year Ended December 31, 2020 Year Ended December 31, 2019 Floaters (1) 491,407 727,177 Jackups 417,829 518,881 Total (1) 909,236 1,246,058 (1) Includes the impact of the Noble Bully II contract buyout during the year ended December 31, 2019. Exclusive of this item, revenue for the year ended December 31, 2019 would have been $560,319 for floaters and $1,079,200 for total rigs.

Leases

Leases	12 Months Ended
	Dec. 31, 2020
Leases [Abstract]
Leases	Note 11— Leases Leases We determine if an arrangement is a lease at inception. Our operating lease agreements are primarily for real estate, equipment, storage, dock space and automobiles and are included within “Other current liabilities,” “Other assets” and “Other liabilities,” on our Consolidated Balance Sheets. As discussed in “Note 1— Organization and Basis of Presentation,” since the Petition Date, the Company operated as a debtor-in-possession under the jurisdiction of the Bankruptcy Court and in accordance with provisions of the Bankruptcy Code. Accordingly, all of the leases liabilities on the Debtor companies have been presented as “Liabilities subject to compromise” on our Consolidated Balance Sheet at December 31, 2020. As most of our leases do not provide an implicit rate, we use our incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. Certain of our lease agreements include options to extend or terminate the lease, which we do not include in our minimum lease terms unless management is reasonably certain to exercise and reasonably certain not to exercise, respectively. In early January 2021, the Company entered into agreements to surrender a portion of the Sugar Land office lease and to terminate the Brook Street London office leases with the respective lessors. This will reduce the Right of Use Asset and Lease Liability by approximately $11.3 million and $11.9 million, respectively. Supplemental balance sheet information related to leases was as follows: December 31, 2020 December 31, 2019 Operating Leases Operating lease right-of-use assets $ 26,648 $ 33,480 Current operating lease liabilities 1,942 6,591 Long-term operating lease liabilities 4,969 26,778 Weighted average remaining lease term for operating leases (years) 7.8 7.7 Weighted average discounted rate for operating leases 11.1 % 9.7 % The components of lease cost were as follows: Year Ended December 31, 2020 Year Ended December 31, 2019 Operating lease cost $ 9,065 $ 8,878 Short-term lease cost 2,893 7,012 Variable lease cost 1,265 1,620 Total lease cost $ 13,223 $ 17,510 Supplemental cash flow information related to leases was as follows: Year Ended December 31, 2020 Year Ended December 31, 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 9,614 $ 8,812 Maturities of lease liabilities as of December 31, 2020 were as follows: Operating Leases 2021 $ 8,594 2022 5,545 2023 3,567 2024 3,629 2025 3,687 Thereafter 17,018 Total lease payments 42,040 Less: Interest (14,343) Present value of lease liability (1) $ 27,697 (1) Includes $21.0 million of lease liabilities which are currently classified as “Liabilities subject to compromise” on our Consolidated Balance Sheet.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Income Taxes	Note 12— Income Taxes Legacy Noble is a tax resident in the UK and, as such, is subject to UK corporation tax on its taxable profits and gains. A UK tax exemption is available in respect of qualifying dividends income and capital gains related to the sale of qualifying participations. We operate in various countries throughout the world, including the United States. The income or loss of the non-UK subsidiaries is not expected to be subject to UK corporation tax. Consequently, we have taken account of the above exemption and provided for income taxes based on the laws and rates in effect in the countries in which operations are conducted, or in which we or our subsidiaries have a taxable presence for income tax purposes. The components of the net deferred taxes are as follows: 2020 2019 Deferred tax assets United States Net operating loss carry forwards $ 79,047 $ 129,695 Disallowed interest deduction carryforwards 62,337 92,030 Deferred pension plan amounts 10,568 10,447 Accrued expenses not currently deductible 5,625 8,434 Other 3,178 2,356 Non-United States Net operating loss carry forwards 47,187 22,426 Disallowed interest deduction carryforwards 13,625 13,942 Deferred pension plan amounts 558 787 Deferred tax assets 222,125 280,117 Less: valuation allowance (191,835) (8,084) Net deferred tax assets $ 30,290 $ 272,033 Deferred tax liabilities United States Excess of net book basis over remaining tax basis $ (30,349) $ (299,136) Other (1,796) (2,420) Non-United States Excess of net book basis over remaining tax basis (5,474) (4,780) Other (1,272) (1,342) Deferred tax liabilities (38,891) (307,678) Net deferred tax liabilities $ (8,601) $ (35,645) Loss from continuing operations before income taxes consists of the following: Year Ended December 31, 2020 2019 2018 United States $ (2,150,591) $ (65,062) $ (136,083) Non-United States (2,088,271) (844,022) (1,101,093) Total $ (4,238,862) $ (909,084) $ (1,237,176) The income tax provision (benefit) for continuing operations consists of the following: Year Ended December 31, 2020 2019 2018 Current- United States $ (257,552) $ (34,726) $ (56,574) Current- Non-United States 23,474 14,011 18,348 Deferred- United States (57,514) (5,307) (67,371) Deferred- Non-United States 31,189 (12,518) (1,044) Total $ (260,403) $ (38,540) $ (106,641) The following is a reconciliation of our reserve for uncertain tax positions, excluding interest and penalties. 2020 2019 2018 Gross balance at January 1, $ 130,837 $ 161,256 $ 174,437 Additions based on tax positions related to current year 20,266 934 97 Additions for tax positions of prior years 206 224 25 Reductions for tax positions of prior years (109,330) (28,542) (12,806) Expiration of statutes (4,258) (1,629) (497) Tax settlements — (1,406) — Gross balance at December 31, 37,721 130,837 161,256 Related tax benefits (384) (400) (1,008) Net reserve at December 31, $ 37,337 $ 130,437 $ 160,248 The liabilities related to our reserve for uncertain tax positions are comprised of the following: 2020 2019 Reserve for uncertain tax positions, excluding interest and penalties $ 37,337 $ 130,437 Interest and penalties included in “Other liabilities” 5,164 29,232 Reserve for uncertain tax positions, including interest and penalties $ 42,501 $ 159,669 At December 31, 2020, the reserves for uncertain tax positions totaled $42.5 million (net of related tax benefits of $0.4 million). If a portion or all of the December 31, 2020 reserves are not realized, the provision for income taxes could be reduced by up to $42.5 million. At December 31, 2019, the reserves for uncertain tax positions totaled $159.7 million (net of related tax benefits of $0.4 million). It is reasonably possible that our existing liabilities related to our reserve for uncertain tax positions may fluctuate in the next 12 months primarily due to the completion of open audits or the expiration of statutes of limitation. We estimate the potential changes could range up to $14.0 million. On March 27, 2020, the 45 th President of the United States signed the CARES Act into law. The CARES Act makes significant changes to various areas of US federal income tax law by, among other things, allowing a five-year carryback period for 2018, 2019 and 2020 NOLs, accelerating the realization of remaining alternative minimum tax credits, and increasing the interest expense limitation under Section 163(j) for years 2019 and 2020. The Company recognized an income tax benefit of $39.0 million as a result of the application of the CARES Act in its 2020 financial statements. Such $39.0 million tax benefit was comprised primarily of a current income tax receivable of $151.4 million, partially offset by non-cash deferred tax expense of $112.4 million related to NOL utilization. As of December 31, 2020, we had received $134.0 million of the income tax receivable related to the CARES Act, along with an additional receipt of $4.4 million of related interest. We include, as a component of our “Income tax benefit (provision),” potential interest and penalties related to recognized tax contingencies within our global operations. Interest and penalties resulted in an income tax benefit of $24.1 million in 2020, an income tax benefit of $3.0 million in 2019 and an income tax expense of $5.1 million in 2018. During the year ended December 31, 2020, our income tax provision included the following non-recurring significant items: Tax benefit related to the following: • gross benefit of $192.4 million related to the impairment of rigs and certain capital spares partially offset by a corresponding increase in valuation allowance of $92.7 million; • the application of the CARES Act of $39.0 million; • release of reserves related to the closure of the 2012-2017 US tax audit of $111.9 million; and • tax impact of an internal restructuring net of resulting adjustment of the valuation allowance of $17.9 million. Tax expenses related to the following: • a 2019 US return-to-provision adjustment and resulting adjustment to the valuation allowance of $21.2 million; • an increase in UK valuation allowance of $31.1 million; and • an increase in non-US reserve of $7.8 million. Our gross deferred tax asset balance at year-end reflects the application of our income tax accounting policies and is based on management’s estimates, judgments and assumptions regarding realizability. If it is more likely than not that a portion of the deferred tax assets will not be realized in a future period, the deferred tax assets will be reduced by a valuation allowance based on management’s estimates. During the year ended December 31, 2020, we recorded additional valuation allowance of $183.8 million for deferred tax assets in the US, Guyana and the UK. We conduct business globally and, as a result, we file numerous income tax returns in the US and in non-US jurisdictions. In the normal course of business, we are subject to examination by taxing authorities throughout the world, including in jurisdictions such as Brazil, Brunei, Bulgaria, Canada, Cyprus, Egypt, Ghana, Guyana, Hungary, Malta, Mexico, Nigeria, Norway, Saudi Arabia, Argentina, Australia, Denmark, Gabon, Luxembourg, Malaysia, Morocco, Myanmar, the Netherlands, Oman, Qatar, Tanzania, Timor-Leste, Singapore, Suriname, Switzerland, the United Kingdom and the United States. We are no longer subject to US Federal income tax examinations for years before 2009 and non-US income tax examinations for years before 2007. Legacy Noble conducted substantially all of its business through Finco and its subsidiaries. The income or loss of our non-UK subsidiaries is not subject to UK income tax. Earnings are taxable in the United Kingdom at the UK statutory rate of 19 percent. The ongoing consultative process in the United Kingdom and a possible change in law could materially impact our tax rate on operations in the United Kingdom continental shelf. A reconciliation of tax rates outside of the United Kingdom and the Cayman Islands to our Legacy Noble effective rate for continuing operations is shown below: Year Ended December 31, 2020 2019 2018 Effect of: Tax rates which are different than the UK and Cayman Island rates 0.4 % 4.3 % 5.0 % Tax impact of asset impairment and disposition 4.5 % 0.3 % 2.9 % Tax impact of restructuring 2.1 % (4.1) % — % Tax impact of the tax regulation change 0.9 % — % 2.1 % Tax impact of valuation allowance (4.3) % 0.5 % (1.0) % Resolution of (reserve for) tax authority audits 2.5 % 3.2 % (0.4) % Total 6.1 % 4.2 % 8.6 % Due to US foreign tax credit limitation constraints, for the years ended December 31, 2020, 2019 and 2018, the Company has made the determination to take foreign tax expense as a deduction against US taxable income. At December 31, 2020, the Company asserts that its unremitted earnings and/or book/tax outside basis differences in certain of its subsidiaries are either permanently reinvested or are not expected to result in a taxable event in the foreseeable future. Therefore, no deferred taxes have been recorded related to such earnings and/or investments. Certain of the restructuring transactions effected by the Company in connection with the Plan have a material impact on the Company, the full extent of which is still being finalized. For example, cancellation of indebtedness income resulting from such restructuring transactions

Employee Benefit Plans

Employee Benefit Plans	12 Months Ended
	Dec. 31, 2020
Retirement Benefits [Abstract]
Employee Benefit Plans	Note 13— Employee Benefit Plans Defined Benefit Plans Noble Drilling (Land Support) Limited, an indirect, wholly-owned subsidiary of Noble (“NDLS”), maintains a pension plan that covers all of its salaried, non-union employees, whose most recent date of employment is prior to April 1, 2014 (referred to as our “non-US plan”). In addition to the non-US plan discussed above, we have a US noncontributory defined benefit pension plan that covers certain salaried employees and a US noncontributory defined benefit pension plan that covers certain hourly employees, whose initial date of employment is prior to August 1, 2004 (collectively referred to as our “qualified US plans”). These plans are governed by the Noble Drilling Employees’ Retirement Trust (the “Trust”). The benefits from these plans are based primarily on years of service and, for the salaried plan, employees' compensation near retirement. These plans are designed to qualify under the Employee Retirement Income Security Act of 1974 (“ERISA”), and our funding policy is consistent with funding requirements of ERISA and other applicable laws and regulations. We make cash contributions, or utilize credits available to us, for the qualified US plans when required. The benefit amount that can be covered by the qualified US plans is limited under ERISA and the Internal Revenue Code of 1986. Therefore, we maintain an unfunded, nonqualified excess benefit plan designed to maintain benefits for specified employees at the formula level in the qualified salaried US plan. We refer to the qualified US plans and the excess benefit plan collectively as the “US plans.” During the fourth quarter of 2016, we approved amendments, effective as of December 31, 2016, to our non-US and US defined benefit plans. With these amendments, employees and alternate payees will accrue no future benefits under the plans after December 31, 2016. However, these amendments will not affect any benefits earned through that date. A reconciliation of the changes in projected benefit obligations (“PBO”) for our non-US and US plans is as follows: Years Ended December 31, 2020 2019 Non-US US Non-US US Benefit obligation at beginning of year $ 62,485 $ 240,249 $ 54,898 $ 210,944 Service cost — — — — Interest cost 1,877 7,567 1,814 8,711 Actuarial loss (gain) 7,190 28,266 6,649 29,078 Plan amendments 104 — — — Benefits paid (2,261) (8,024) (2,821) (7,201) Settlements and curtailments (3,751) (1,968) — (1,283) Foreign exchange rate changes 2,299 — 1,945 — Benefit obligation at end of year $ 67,943 $ 266,090 $ 62,485 $ 240,249 A reconciliation of the changes in fair value of plan assets is as follows: Years Ended December 31, 2020 2019 Non-US US Non-US US Fair value of plan assets at beginning of year $ 76,429 $ 194,160 $ 68,597 $ 165,730 Actual return on plan assets 8,741 36,247 8,282 35,597 Employer contributions — 2,002 — 1,317 Benefits paid (2,261) (8,024) (2,821) (7,201) Settlement and curtailment (3,751) (1,968) — (1,283) Foreign exchange rate changes 4,650 — 2,371 — Fair value of plan assets at end of year $ 83,808 $ 222,417 $ 76,429 $ 194,160 The funded status of the plans is as follows: Years Ended December 31, 2020 2019 Non-US US Non-US US Funded status $ 15,865 $ (43,673) $ 13,944 $ (46,089) Amounts recognized in the Consolidated Balance Sheets consist of: Years Ended December 31, 2020 2019 Non-US US Non-US US Other assets (noncurrent) $ 15,865 $ — $ 13,944 $ — Other liabilities (current) — (8,169) — (2,535) Other liabilities (noncurrent) — (35,504) — (43,554) Net amount recognized $ 15,865 $ (43,673) $ 13,944 $ (46,089) Amounts recognized in AOCI consist of: Years Ended December 31, 2020 2019 Non-US US Non-US US Net actuarial loss $ 3,108 $ 47,094 $ 4,758 $ 46,420 Prior service cost — — — — Deferred income tax asset (558) (9,890) (787) (9,748) Accumulated other comprehensive loss $ 2,550 $ 37,204 $ 3,971 $ 36,672 Pension costs include the following components: Years Ended December 31, 2020 2019 2018 Non-US US Non-US US Non-US US Service cost $ — $ — $ — $ — $ — $ — Interest cost 1,877 7,567 1,814 8,711 1,747 8,179 Return on plan assets (1,649) (11,676) (2,471) (10,313) (2,762) (11,914) Amortization of prior service cost 10 — 10 — — — Recognized net actuarial loss — 2,866 — 2,771 — 1,642 Settlement and curtailment gains 9 154 — (37) — 135 Net pension benefit cost (gain) $ 247 $ (1,089) $ (647) $ 1,132 $ (1,015) $ (1,958) There is less than $0.1 million and $2.9 million estimated net actuarial losses and prior service costs for the non-US plan and the US plans, respectively, that will be amortized from AOCI into net periodic pension cost in 2021. During the years ended December 31, 2020, 2019 and 2018, we adopted the Retirement Plan (“RP”) mortality tables with the Mortality Projection (“MP”) scale as issued by the Society of Actuaries for each of the respective years. The RP 2020, 2019 and 2018 mortality tables represent the new standard for defined benefit mortality assumptions due to adjusted life expectancies. The adoption of the updated mortality tables and the mortality improvement scales decreased our pension liability on our US plans by approximately $1.7 million, $2.1 million and $0.6 million as of December 31, 2020, 2019 and 2018. During the fourth quarter of 2018, the UK High Court made a judgement confirming that UK pension schemes are required to equalize male and female members’ benefits for the effect of guaranteed minimum pensions (GMP). We have accounted for the impact of the GMP equalization as a plan amendment to our non-US plan, and the impact is included as a prior service cost as of December 31, 2020, which will be amortized over the average life expectancy of the members at that date. Defined Benefit Plans—Disaggregated Plan Information Disaggregated information regarding our non-US and US plans is summarized below: Years Ended December 31, 2020 2019 Non-US US Non-US US Projected benefit obligation $ 67,943 $ 266,090 $ 62,485 $ 240,249 Accumulated benefit obligation 67,943 266,090 62,485 240,249 Fair value of plan assets 83,808 222,417 76,429 194,160 The following table provides information related to those plans in which the PBO exceeded the fair value of the plan assets at December 31, 2020 and 2019. The PBO is the actuarially computed present value of earned benefits based on service to date and includes the estimated effect of any future salary increases. Employees and alternate payees have no longer accrued future benefits under the plans since December 31, 2017. Years Ended December 31, 2020 2019 Non-US US Non-US US Projected benefit obligation $ — $ 266,090 $ — $ 240,249 Fair value of plan assets — 222,417 — 194,160 The PBO for the unfunded excess benefit plan was $9.7 million at December 31, 2020 as compared to $10.8 million in 2019, and is included under “US” in the above tables. The following table provides information related to those plans in which the accumulated benefit obligation (“ABO”) exceeded the fair value of plan assets at December 31, 2020 and 2019. The ABO is the actuarially computed present value of earned benefits based on service to date, but differs from the PBO in that it is based on current salary levels. Employees and alternate payees have no longer accrued future benefits under the plans since December 31, 2016. Years Ended December 31, 2020 2019 Non-US US Non-US US Accumulated benefit obligation $ — $ 266,090 $ — $ 240,249 Fair value of plan assets — 222,417 — 194,160 The ABO for the unfunded excess benefit plan was $9.7 million at December 31, 2020 as compared to $10.8 million in 2019, and is included under “US” in the above tables. Defined Benefit Plans—Key Assumptions The key assumptions for the plans are summarized below: Years Ended December 31, 2020 2019 Non-US US Non-US US Weighted-average assumptions used to determine benefit obligations: Discount Rate 1.40% 1.82% -2.60% 2.10% 2.56% - 3.32% Rate of compensation increase N/A N/A N/A N/A Years Ended December 31, 2020 2019 2018 Non-US US Non-US US Non-US US Weighted-average assumptions used to determine periodic benefit cost: Discount Rate 2.10% 2.56% - 3.32% 2.90% 3.65% - 4.29% 2.60% 2.84% - 3.66% Expected long-term return on assets 2.90% 5.40% - 6.30% 3.70% 5.40% -6.50% 3.70% 5.75% -6.50% Rate of compensation increase N/A N/A N/A N/A N/A N/A The discount rates used to calculate the net present value of future benefit obligations for our US plans is based on the average of current rates earned on long-term bonds that receive a Moody’s rating of “Aa” or better. We have determined that the timing and amount of expected cash outflows on our plans reasonably match this index. For our non-US plan, the discount rate used to calculate the net present value of future benefit obligations is determined by using a yield curve of high quality bond portfolios with an average maturity approximating that of the liabilities. In developing the expected long-term rate of return on assets, we considered the current level of expected returns on risk free investments (primarily government bonds), the historical level of risk premium associated with the other asset classes in which the portfolio is invested and the expectations for future returns of each asset class. The expected return for each asset class was then weighted based on the target asset allocation to develop the expected long-term rate of return on assets for the portfolio. To assist us with this analysis, we employ third-party consultants for our US and non-US plans that use a portfolio return model. Defined Benefit Plans—Plan Assets Non-US Plan As of December 31, 2020, the NDLS pension Scheme targets an asset allocation of 10.0% return-seeking securities (Growth) and 90.0% debt securities (Matching) in order to protect the strong funding position the Scheme had achieved and reduce the level of funding level volatility arising as a result of the Scheme’s investment portfolio while the Trustees and Company considered entering into a buy-out contract with an insurance provider. However, following the year end and the conclusion of the assessment of a buy-out contract, the Trustees increased the Scheme's target an asset allocation of 20.0% return-seeking securities (Growth) and 80.0% in debt securities (Matching) and recommended the de-risking strategy whereby the level of investment risk reduces as the Scheme’s funding level improves. The overall investment objective of the Scheme, as adopted by the Scheme’s Trustees, is to reach a fully funded position on the agreed de-risking basis of Gilts - 0.20% per annum. The objectives within the Scheme’s overall investment strategy is to outperform the cash + 4% per annum long term objective for Growth assets and to sufficiently hedge interest rate and inflation risk within the Matching portfolio in relation to the Scheme’s liabilities. By achieving these objectives, the Trustees believe the Scheme will be able to avoid significant volatility in the contribution rate and provide sufficient assets to cover the Scheme’s benefit obligations. To achieve this the Trustees have given Mercer, the appointed investment manager, full discretion in the day-to-day management of the Scheme’s assets and implementation of the de-risking strategy, who in turn invests in multiple underlying investment managers where appropriate. The Trustees meet with Mercer periodically to review and discuss their investment performance. The actual fair values of the non-US plan are as follows: Year Ended December 31, 2020 Estimated Fair Value Measurements Carrying Amount Quoted Prices in Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Cash and cash equivalents $ 5,405 $ 5,405 $ — $ — Equity securities: International companies 4,179 4,179 — — Fixed income securities: Corporate bonds 72,407 72,407 — — Other 1,817 1,817 — — Total $ 83,808 $ 83,808 $ — $ — Year Ended December 31, 2019 Estimated Fair Value Carrying Amount Quoted Prices in Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Cash and cash equivalents $ 903 $ 903 $ — $ — Equity securities: International companies 26,131 26,131 — — Fixed income securities: Corporate bonds 49,395 49,395 — — Other — — — — Total $ 76,429 $ 76,429 $ — $ — US Plans The fundamental objective of the US plan is to provide the capital assets necessary to meet the financial obligations made to plan participants. In order to meet this objective, the Investment Policy Statement depicts how the investment assets of the plan are to be managed in accordance with the overall target asset allocation of approximately 41.0% equity securities, 57.7% fixed income securities, and 1.3% in cash and equivalents. The target asset allocation is intended to generate sufficient capital to meet plan obligations and provide a portfolio rate of return equal to or greater than the return realized using appropriate blended, market benchmark over a full market cycle (usually a five For investments in mutual funds, the assets of the Trust are subject to the guidelines and limits imposed by such mutual fund’s prospectus and the other governing documentation at the fund level. No shares of Noble were included in equity securities at either December 31, 2020 or 2019. The actual fair values of US plan assets are as follows: Year Ended December 31, 2020 Estimated Fair Value Carrying Quoted Significant Significant Cash and cash equivalents $ 1,727 $ 1,727 $ — $ — Equity securities: United States 78,019 32,387 45,632 — International 32,310 32,310 — — Fixed income securities: Corporate bonds 83,645 82,669 976 — Municipal bonds — — — Treasury bonds 26,716 26,716 — — Total $ 222,417 $ 175,809 $ 46,608 $ — Year Ended December 31, 2019 Estimated Fair Value Carrying Quoted Significant Significant Cash and cash equivalents $ 2,254 $ 2,254 $ — $ — Equity securities: United States 60,422 21,502 38,920 — International 23,470 23,470 — — Fixed income securities: Corporate bonds 75,131 74,253 878 — Municipal bonds 1,064 $ — $ 1,064 Treasury bonds 31,819 31,819 — — Total $ 194,160 $ 153,298 $ 40,862 $ — Defined Benefit Plans—Cash Flows In 2020, we made no contributions to our non-US plan and we made contributions of $2.0 million to our US plans. In 2019, we made no contributions to our non-US plan and contributions of $1.3 million to our US plans. In 2018, we made no contributions to our non-US plan and contributions of $4.6 million to our US plans. We expect our aggregate minimum contributions to our non-US and US plans in 2021, subject to applicable law, to be zero and $8.2 million, respectively. We continue to monitor and evaluate funding options based upon market conditions and may increase contributions at our discretion. The following table summarizes our estimated benefit payments at December 31, 2020: Payments by Period Total 2021 2022 2023 2024 2025 Thereafter Estimated benefit payments Non-US plans $ 24,311 $ 2,071 $ 2,143 $ 2,218 $ 2,296 $ 2,376 $ 13,207 US plans 115,735 17,319 9,648 10,157 10,367 10,824 57,420 Total estimated benefit payments $ 140,046 $ 19,390 $ 11,791 $ 12,375 $ 12,663 $ 13,200 $ 70,627 Other Benefit Plans We sponsor a 401(k) Restoration Plan, which is a nonqualified, unfunded employee benefit plan under which specified employees may elect to defer compensation in excess of amounts deferrable under our 401(k) savings plan. The 401(k) Restoration Plan has no assets, and amounts withheld for the 401(k) Restoration Plan are kept by us for general corporate purposes. The investments selected by employees and associated returns are tracked on a phantom basis. Accordingly, we have a liability to the employee for amounts originally withheld plus phantom investment income or less phantom investment losses. We are at risk for phantom investment income and, conversely, benefit should phantom investment losses occur. At December 31, 2020 and 2019, our liability for the 401(k) Restoration Plan was $7.8 million and $8.4 million, respectively, and is included in “Accrued payroll and related costs.” In 2005, we enacted a profit sharing plan, the Noble Drilling Services Inc. Profit Sharing Plan, which covers eligible employees, as defined in the plan. Participants in the plan become fully vested in the plan after three years of service. We sponsor other retirement, health and welfare plans and a 401(k) savings plan for the benefit of our employees. On January 1, 2019, the 401(k) savings plan and the profit sharing plan were merged into the Noble Drilling Services Inc. 401(k) and Profit Sharing Plan. Profit sharing contributions are discretionary, require Board of Directors approval and are made in the form of cash. Contributions recorded related to this plan totaled $2.4 million, $2.4 million and $2.3 million, respectively, for three years ended December 31, 2020, 2019

Derivative Instruments and Hedg

Derivative Instruments and Hedging Activities	12 Months Ended
	Dec. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments and Hedging Activities	Note 14— Derivative Instruments and Hedging Activities We are exposed to certain concentrations of interest rate and foreign currency exchange rate risk: periodically, we enter into derivative instruments to manage our exposure to fluctuations in these rates. We have documented policies and procedures to monitor and control the use of derivative instruments. We do not engage in derivative transactions for speculative or trading purposes, nor are we a party to leveraged derivatives. For foreign currency forward contracts, hedge effectiveness is evaluated at inception based on the matching of critical terms between derivative contracts and the hedged item. Any change in fair value resulting from ineffectiveness is recognized immediately in earnings. Cash Flow Hedges Several of our regional shorebases have a significant amount of their cash operating expenses payable in local currencies. To limit the potential risk of currency fluctuations, we periodically enter into forward contracts, which have historically settled monthly in the operations’ respective local currencies. All of these contracts had a maturity of less than 12 months. During 2020, we did not enter into any forward contracts. During 2019, we entered into forward contracts of approximately $15.8 million, all of which settled during 2019. At both December 31, 2020 and 2019, we had no outstanding derivative contracts. Financial Statement Presentation The following table, together with “Note 15— Fair Value of Financial Instruments,” summarizes the recognized gains and losses of cash flow hedges and non-designated derivatives through AOCI or as “Contract drilling services” revenue or costs for the years ended December 31, 2020 and 2019: Year Ended December 31, 2020 2019 Gain/(loss) reclassified from AOCI to “ Contract drilling services ” costs Cash flow hedges Foreign currency forward contracts $ — $ 320 There were no foreign currency forward contracts outstanding as of December 31, 2020.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	12 Months Ended
	Dec. 31, 2020
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	Note 15— Fair Value of Financial Instruments The following tables present the carrying amount and estimated fair value of our financial instruments recognized at fair value on a recurring basis: December 31, 2020 Estimated Fair Value Measurements Carrying Amount Quoted Prices in Active Markets (Level 1) Significant Other Observable Inputs Significant Unobservable Inputs Assets - Marketable securities $ 12,326 $ 12,326 $ — $ — December 31, 2019 Estimated Fair Value Measurements Carrying Amount Quoted Prices in Active Markets (Level 1) Significant Other Observable Inputs Significant Unobservable Inputs Assets - Marketable securities $ 10,433 $ 10,433 $ — $ — Our cash and cash equivalents, and restricted cash, accounts receivable, marketable securities and accounts payable are by their nature short-term. As a result, the carrying values included in our Consolidated Balance Sheets approximate fair value.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 16— Commitments and Contingencies Transocean Ltd. In January 2017, a subsidiary of Transocean Ltd. filed suit against us and certain of our subsidiaries seeking damages for patent infringement in a Texas federal court. The suit claimed that five of our newbuild rigs that operated in the US Gulf of Mexico violated Transocean patents relating to what is generally referred to as dual-activity drilling, and Transocean sought royalties of a $10.0 million fee and a five percent license fee for the pertinent period of operation for each vessel and damages for the breach of contract alleged in February 2019, regarding a 2007 settlement agreement that we entered into with Transocean relating to patent claims in respect of another Noble rig. On September 15, 2020, the Company entered into a settlement agreement with Transocean to settle this matter in exchange for payment by the Company of an immaterial amount to be paid in three installment payments due 2020, 2021 and 2022, which was approved by the Bankruptcy Court on October 9, 2020 and is included in “Liabilities subject to compromise” on our Consolidated Balance Sheet as of December 31, 2020. Paragon Offshore On August 1, 2014, Legacy Noble completed the separation and spin-off of a majority of its standard specification offshore drilling business (the “Spin-off”) through a pro rata distribution of all of the ordinary shares of its wholly-owned subsidiary, Paragon Offshore plc (“Paragon Offshore”), to the holders of Legacy Noble’s ordinary shares. Paragon Offshore filed for protection under chapter 11 of the Bankruptcy Code in February 2016, and in connection with Paragon Offshore’s emergence from bankruptcy in July 2017, all claims it may have had against Legacy Noble were transferred to a litigation trust. On December 15, 2017, the litigation trust filed fraudulent conveyance and related claims relating to the Spin-off in an action (the “Action”) against Legacy Noble and certain of its subsidiaries (the “Noble Defendants”) and certain of Legacy Noble’s then current and former officers and directors (the “Individual Defendants”) in the Delaware bankruptcy court that heard Paragon Offshore’s bankruptcy (the “Delaware Court”). The litigation trust sought total damages of approximately $2.6 billion and unspecified amounts in respect of the claims against the officer and director defendants, all of whom had indemnification agreements with Legacy Noble. On September 23, 2020, the Noble Defendants entered into a settlement agreement (the “Settlement Agreement”) with the litigation trust to fully and finally settle the disputes among them in the Action on the terms set forth in the Settlement Agreement and, subject to certain terms and conditions, to allow the litigation trust’s claims to proceed against the Individual Defendants in the Delaware Court. Among other things, the Settlement Agreement provided that the claims asserted by the litigation trust against each of the Noble Defendants in the Action would be allowed as a prepetition unsecured claim in the Chapter 11 Cases in the aggregate amount of $85 million, and, on account of that claim, required the Debtors to either (a) make a $10 million payment to the litigation trust, if a full settlement and release of (i) all claims brought against all defendants in the Action, including the Noble Defendants and the Individual Defendants, (ii) the Noble Defense Cost Claim (as defined in the Settlement Agreement), and (iii) the Noble Indemnity Claim (as defined in the Settlement Agreement) (a “Global Resolution”) is reached on or before October 1, 2020, or (b) if a Global Resolution was not reached on or before October 1, 2020, make an up-front payment of $7.5 million for a release of only the claims against the Noble Defendants, and bring litigation against the insurers with respect to the Individual Defendants’ director and officer’s liability insurance policies the proceeds of which would be shared with the litigation trust on the terms and conditions set forth in the Settlement Agreement and with respect to a determination of the insurance coverage for the Noble Defendants. On October 9, 2020, the Bankruptcy Court entered an order approving the Debtors' entry into the Settlement Agreement. On February 3, 2021, the Noble Defendants, the Individual Defendants and the litigation trust entered into an agreement (the “Global Resolution Agreement”) to effectuate the global resolution contemplated by the Settlement Agreement. Pursuant to the Global Resolution Agreement, among other things, the Debtors made a $7.7 million payment into escrow which, together with $82.7 million contributed by certain insurers, will be paid to the litigation trust upon the satisfaction of certain conditions precedent, and all claims brought against all defendants, including the Noble Defendants and Individual Defendants will be settled and released. The Global Resolution Agreement was subject to approval by the Delaware Court, which approval was granted on February 24, 2021. All claims related to the Action have now been fully settled. Tax matters The Internal Revenue Service (“IRS”) has completed its examination procedures, including all appeals and administrative reviews, for the taxable years ended December 31, 2012 through December 31, 2017. In May 2020, the IRS examination team notified us that it was no longer proposing any adjustments with respect to our tax reporting for the taxable years ended December 31, 2012 through December 31, 2017. Subsequent to our filing of an Application for Tentative Refund with the IRS under the CARES Act in the months of April and August 2020, the IRS informed us that it would be conducting a limited scope examination of the taxable years ended December 31, 2012, 2013, 2014, 2018 and 2019. In the first quarter of 2020, we filed a foreign tax credit refund claim for taxable year 2009. The IRS is currently auditing taxable year 2009 in relation to our refund claim. We believe that we have accurately reported all amounts in our returns. Audit claims of approximately $96.1 million attributable to income and other business taxes were assessed against Noble entities in Mexico related to tax years 2007, 2009 and 2010, in Australia related to tax years 2013 to 2016, in Guyana related to tax years 2019 and 2020 and in Saudi Arabia related to tax years 2015 to 2018. We intend to vigorously defend our reported positions and believe the ultimate resolution of the audit claims will not have a material adverse effect on our consolidated financial statements. We operate in a number of countries throughout the world and our tax returns filed in those jurisdictions are subject to review and examination by tax authorities within those jurisdictions. We recognize uncertain tax positions that we believe have a greater than 50 percent likelihood of being sustained upon challenge by a tax authority. We cannot predict or provide assurance as to the ultimate outcome of any existing or future assessments. Other contingencies Legacy Noble had entered into agreements with certain of our executive officers, as well as certain other employees. These agreements were effective upon a change of control of Noble (within the meaning set forth in the agreements) or a termination of employment in connection with or in anticipation of a change of control, and remained effective for three years thereafter. These agreements provided for compensation and certain other benefits under such circumstances. On the Effective Date of our emergence from the Chapter 11 Cases, the Legacy Noble agreements were superseded by new employment agreements. We are a defendant in certain claims and litigation arising out of operations in the ordinary course of business, including personal injury claims, the resolution of which, in the opinion of management, will not be material to our financial position, results of operations or cash flows. There is inherent risk in any litigation or dispute and no assurance can be given as to the outcome of these claims.

Segment and Related Information

Segment and Related Information	12 Months Ended
	Dec. 31, 2020
Segment Reporting [Abstract]
Segment and Related Information	Note 17— Segment and Related Information We report our contract drilling operations as a single reportable segment, Contract Drilling Services, which reflects how we manage our business. The mobile offshore drilling units comprising our offshore rig fleet operate in a global market for contract drilling services and are often redeployed to different regions due to changing demands of our customers, which consist primarily of large, integrated, independent and government-owned or controlled oil and gas companies throughout the world. As of December 31, 2020, our contract drilling services segment conducts contract drilling operations in Canada, Far East Asia, the Middle East, the North Sea, Oceania, South America and the US Gulf of Mexico. The following table presents revenues and identifiable assets by country based on the location of the service provided: Revenues for Year Ended December 31, Identifiable Assets as of December 31, 2020 2019 2018 2020 2019 Australia $ 50,434 $ 33,623 $ — $ 30,498 $ 244,244 Brazil — — — 14,184 8,910 Brunei — — 3,080 — — Bulgaria — 61,525 84,757 — — Canada 28,915 46,147 47,085 4,579 199,696 Curacao — — — — 75,776 Denmark 7,662 31,076 35,855 — 238,413 East Timor — — 33,733 — — Egypt — 49,209 112,473 — — Gabon 147 — — 4,509 4,160 Guyana 222,088 132,414 50,839 1,824,921 1,807,296 Malaysia — 251,497 91,052 9,199 30,012 Mexico — — — 1,297 28,032 Myanmar 21,084 56,207 16,572 — 151,116 Qatar 31,024 36,948 35,180 24,024 219,569 Saudi Arabia 133,246 154,807 156,989 398,093 673,884 Singapore — — 1,769 — — Suriname 61,474 17,374 (3) 585,994 599,659 Tanzania — — 381 — — Trinidad and Tobago 9,468 — — 19,031 — United Arab Emirates — — (17) 52,266 31,150 United Kingdom 180,610 243,063 194,602 749,416 1,373,524 United States 209,401 191,548 218,479 545,926 2,599,057 Vietnam 8,719 — — — — Total $ 964,272 $ 1,305,438 $ 1,082,826 $ 4,263,937 $ 8,284,498

Supplemental Financial Informat

Supplemental Financial Information	12 Months Ended
	Dec. 31, 2020
Supplemental Financial Information [Abstract]
Supplemental Financial Information	Note 18— Supplemental Financial Information Consolidated Balance Sheets Information Deferred revenues from drilling contracts totaled $59.9 million and $65.1 million at December 31, 2020 and 2019, respectively. Such amounts are included in either “Other current liabilities” or “Other liabilities” in the accompanying Consolidated Balance Sheets, based upon our expected time of recognition. Related expenses deferred under drilling contracts totaled $13.9 million at December 31, 2020 as compared to $30.8 million at December 31, 2019, and are included in either “Prepaid expenses and other current assets,” “Other assets” or “Property and equipment, net” in the accompanying Consolidated Balance Sheets, based upon our expected time of recognition. 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: Noble Finco December 31, December 31, 2020 2019 2018 2020 2019 2018 Accounts receivable $ 50,802 $ 2,057 $ 3,974 $ 19,588 $ 2,057 $ 3,974 Other current assets (866) 3,573 (2,722) 7,830 4,046 (2,700) Other assets (2,369) 16,218 (10,378) (800) 18,749 (6,424) Accounts payable 357 (2,279) 14,955 (11,018) (2,182) 14,795 Other current liabilities 8,582 (4,700) (13,940) 16,055 (4,549) (13,495) Other liabilities (10,941) (24,577) (26,829) (10,941) (24,577) (26,829) Total net change in assets and liabilities $ 45,565 $ (9,708) $ (34,940) $ 20,714 $ (6,456) $ (30,679) Non-cash investing and financing activities Additions to property and equipment, at cost for which we had accrued a corresponding liability in accounts payable as of December 31, 2020, 2019 and 2018 were $35.3 million, $36.0 million and $52.1 million, respectively. We entered into the $60.0 million 2018 Seller Loan to finance a portion of the purchase price for the Noble Johnny Whitstine in September 2018. We entered into the $53.6 million 2019 Seller Loan to finance a portion of the purchase price for the Noble Joe Knight in February 2019. See “Note 7— Debt” for additional information. Additional cash flow information is as follows: Noble Finco December 31, December 31, 2020 2019 2018 2020 2019 2018 Cash paid during the period for: Interest, net of amounts capitalized $ 138,040 $ 289,457 $ 286,506 $ 138,040 $ 289,457 $ 286,506 Income taxes paid (refunded), net (133,708) 8,181 (107,554) (133,708) 8,181 (107,554)

Combined Debtor-In-Possession F

Combined Debtor-In-Possession Financial Information	12 Months Ended
	Dec. 31, 2020
Condensed Financial Information Disclosure [Abstract]
Combined Debtor-In-Possession Financial Information	Note 19— Combined Debtor-In-Possession Financial Information The financial statements included below represent the combined financial statements of the Debtors only. These statements reflect the results of operations, financial position and cash flows of the combined Debtor subsidiaries, including certain amounts and activities between Debtor and non-Debtor subsidiaries of the Company, which are eliminated in the consolidated financial statements. COMBINED DEBTORS’ BALANCE SHEET (In thousands) December 31, 2020 ASSETS Current assets Cash and cash equivalents $ 201,239 Accounts receivable 117,179 Receivables from non-debtor affiliates 2,921,225 Taxes receivable 24,475 Prepaid expenses and other current assets 58,973 Short-term notes receivable from non-debtor affiliates 365,112 Total current assets 3,688,203 Property and equipment, at cost 4,728,956 Accumulated depreciation (1,184,698) Property and equipment, net 3,544,258 Investment in non-debtor affiliates 19,622,028 Receivables from non-debtor affiliates 551,368 Other assets 60,173 Total assets $ 27,466,030 LIABILITIES AND EQUITY Current liabilities Accounts payable $ 76,190 Accounts payable to non-debtor affiliates 36,140 Accrued payroll and related costs 31,327 Taxes payable 24,865 Other current liabilities 40,652 Total current liabilities 209,174 Deferred income taxes 8,678 Other liabilities 99,441 Liabilities subject to compromise, inclusive of payables to non-debtor affiliates of $6,217,729 10,457,372 Total liabilities 10,774,665 Total debtors ’ equity 16,691,365 Total liabilities and debtors’ equity $ 27,466,030 COMBINED DEBTORS’ STATEMENTS OF OPERATIONS (In thousands) Year Ended December 31, 2020 Operating revenues Contract drilling services $ 717,655 Reimbursables and other 53,284 Non-debtor affiliates 103,551 874,490 Operating costs and expenses Contract drilling services 477,144 Reimbursables 47,794 Depreciation and amortization 372,663 General and administrative 120,497 Pre-petition charges 14,409 Loss on impairment 3,914,608 4,947,115 Operating loss (4,072,625) Other income (expense) Interest expense, net of amounts capitalized (164,421) Interest expense from non-debtor affiliates (33,421) Gain on extinguishment of debt, net 17,254 Interest income and other, net 9,548 Interest income from non-debtor affiliates 31,751 Reorganization items, net (23,930) Loss from continuing operations before income taxes (4,235,844) Income tax benefit (provision) 247,021 Net loss $ (3,988,823) COMBINED DEBTORS’ STATEMENTS OF CASH FLOWS (In thousands) Year Ended December 31, 2020 Cash flows from operating activities Net loss $ (3,988,823) Adjustments to reconcile net loss to net cash flow from operating activities: Depreciation and amortization 372,663 Loss on impairment 3,914,608 Reorganization items, net (17,366) Gain on extinguishment of debt, net (17,254) Deferred income taxes (26,435) Amortization of share-based compensation 9,169 Other costs, net (42,020) Changes in components of working capital: Change in taxes receivable 28,117 Net changes in other operating assets and liabilities (274,902) Net changes in other operating assets and liabilities with non-debtor affiliates (143,759) Net cash used in operating activities (186,002) Cash flows from investing activities Capital expenditures (148,028) Proceeds from disposal of assets, net 26,999 Net cash used in investing activities (121,029) Cash flows from financing activities Borrowings on credit facilities 210,000 Repayments of senior notes (101,132) Cash paid to settle equity awards (1,010) Other financing activities with non-debtor affiliates 348,107 Taxes withheld on employee stock transactions (418) Net cash provided by financing activities 455,547 Net increase in cash, cash equivalents and restricted cash 148,516 Cash, cash equivalents and restricted cash, beginning of period 73,682 Cash, cash equivalents and restricted cash, end of period $ 222,198

Unaudited Interim Financial Dat

Unaudited Interim Financial Data	12 Months Ended
	Dec. 31, 2020
Quarterly Financial Information Disclosure [Abstract]
Unaudited Interim Financial Data	Note 20— Unaudited Interim Financial Data Unaudited interim consolidated financial information from continuing operations for Noble is as follows: Quarter Ended March 31 June 30 September 30 December 31 2020 Operating revenues $ 281,311 $ 237,918 $ 241,836 $ 203,207 Operating income (loss) (1,132,555) (95,453) (18,875) (2,829,662) Net loss from continuing operations (1,062,677) (42,194) (50,868) (2,822,720) Net loss per share from continuing operations attributable to Noble (1) Basic Loss from continuing operations (4.25) (0.17) (0.20) (11.24) Diluted Loss from continuing operations (4.25) (0.17) (0.20) (11.24) Quarter Ended March 31 June 30 September 30 December 31 2019 Operating revenues $ 282,888 $ 292,936 $ 275,526 $ 454,088 Operating loss (23,812) (118,710) (640,012) 116,261 Net loss from continuing operations (67,068) (151,960) (444,871) (32,870) Net loss from discontinued operations, net of tax (3,821) — — — Net loss per share from continuing operations attributable to Noble (1) Basic Loss from continuing operations (0.27) (0.61) (1.79) (0.13) Loss from discontinued operations (0.02) — — — Diluted Loss from continuing operations (0.27) (0.61) (1.79) (0.13) Loss from discontinued operations (0.02) — — — (1) Net loss per share is computed independently for each of the quarters presented. Therefore, the sum of the quarters’ net loss per share may not equal the total computed for the year.

Organization and Significant _2

Organization and Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Noble Corporation, an exempted company incorporated in the Cayman Islands with limited liability (“Noble” or “Successor”), is a leading offshore drilling contractor for the oil and gas industry. We provide contract drilling services to the international oil and gas industry with our global fleet of mobile offshore drilling units. Noble and its predecessors have been engaged in the contract drilling of oil and gas wells since 1921. As of December 31, 2020, our fleet of 19 drilling rigs consisted of 7 floaters and 12 jackups. We report our contract drilling operations as a single reportable segment, Contract Drilling Services, which reflects how we manage our business. The mobile offshore drilling units comprising our offshore rig fleet operate in a global market for contract drilling services and are often redeployed to different regions due to changing demands of our customers, which consist primarily of large, integrated, independent and government-owned or controlled oil and gas companies throughout the world. On July 31, 2020 (the “Petition Date”), our former parent company, Noble Holding Corporation plc (formerly known as Noble Corporation plc), a public limited company incorporated under the laws of England and Wales (“Legacy Noble” or the “Predecessor”), and certain of its subsidiaries, including Noble Finance Company (formerly known as Noble Corporation), a Cayman Islands company (“Finco”), filed voluntary petitions in the United States Bankruptcy Court for the Southern District of Texas (the “Bankruptcy Court”) seeking relief under chapter 11 of title 11 of the United States Code (the “Bankruptcy Code”). On September 4, 2020, the Debtors (as defined herein) filed with the Bankruptcy Court the Joint Plan of Reorganization of Noble Corporation plc and its Debtor Affiliates, which was subsequently amended on October 8, 2020 and October 13, 2020 and modified on November 18, 2020 (as amended, modified or supplemented, the “Plan”), and the related disclosure statement (the “Disclosure Statement”). On September 24, 2020, six additional subsidiaries of Legacy Noble (together with Legacy Noble and its subsidiaries that filed on the Petition Date, as the context requires, the “Debtors”) filed voluntary petitions in the Bankruptcy Court. The chapter 11 proceedings were jointly administered under the caption Noble Corporation plc, et al. (Case No. 20-33826) (the “Chapter 11 Cases”). On November 20, 2020, the Bankruptcy Court entered an order confirming the Plan. In connection with the Chapter 11 Cases and the Plan, on and prior to the Effective Date (as defined herein), Legacy Noble and certain of its subsidiaries effectuated certain restructuring transactions pursuant to which Legacy Noble formed Noble as an indirect wholly-owned subsidiary of Legacy Noble and transferred to Noble substantially all of the subsidiaries and other assets of Legacy Noble. On February 5, 2021 (the “Effective Date”), the Plan became effective in accordance with its terms and the Debtors emerged from the Chapter 11 Cases. Noble is the successor issuer to Legacy Noble for purposes of and pursuant to Rule 15d-5 of the Exchange Act. References to the “Company,” “we,” “us” or “our” in this Annual Report are to Noble, together with its consolidated subsidiaries, when referring to periods following the Effective Date, and to Legacy Noble, together with its consolidated subsidiaries, when referring to periods prior to the Effective Date. Finco was an indirect, wholly-owned subsidiary of Legacy Noble prior to the Effective Date and has been a direct, wholly-owned subsidiary of Noble, our parent company, since the Effective Date. Noble’s principal asset is all of the shares of Finco. Finco has no public equity outstanding. The consolidated financial statements of Noble include the accounts of Finco, and Noble conducts substantially all of its business through Finco and its subsidiaries.
Principles of Consolidation	Principles of Consolidation The consolidated financial statements include our accounts and those of our wholly-owned subsidiaries and entities in which we hold a controlling financial interest. Until December 3, 2019 our consolidated financial statements included the accounts of two joint ventures, in each of which we owned a 50 percent interest. On December 3, 2019, we acquired the remaining 50 percent interest not owned by us and as a result the two joint ventures became our wholly-owned subsidiaries. Our historical ownership interest in the joint ventures met the definition of variable interest under Financial Accounting Standards Board (“FASB”) codification and we determined that we were the primary beneficiary. Intercompany balances and transactions have been eliminated in consolidation.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents include cash on hand, demand deposits with banks and all highly liquid investments with original maturities of three months or less. Our cash, cash equivalents and short-term investments are subject to potential credit risk, and certain of our cash accounts carry balances greater than the federally insured limits. Cash and cash equivalents are primarily held by major banks or investment firms. Our cash management and investment policies restrict investments to lower risk, highly liquid securities and we perform periodic evaluations of the relative credit standing of the financial institutions with which we conduct business.
Restricted Cash	Restricted CashWe classify restricted cash balances in current assets if the restriction is expected to expire or otherwise be resolved within one year and in other assets if the restriction is expected to expire or otherwise be resolved in more than one year.
Accounts Receivable and Accounts Receivable from Affiliates	Accounts ReceivableWe record accounts receivable at the amount we invoice our clients, net of allowance for credit losses. We provide an allowance for uncollectible accounts, as necessary.
Property and Equipment	Property and Equipment Property and equipment is stated at cost, reduced by provisions to recognize economic impairment. Major replacements and improvements are capitalized. When assets are sold, retired or otherwise disposed of, the cost and related accumulated depreciation are eliminated from the accounts and the gain or loss is recognized. Drilling equipment and facilities are depreciated using the straight-line method over their estimated useful lives as of the date placed in service or date of major refurbishment. Estimated useful lives of our drilling equipment range from three two Interest is capitalized on long-term construction project using the weighted average cost of debt outstanding during the period of construction. Scheduled maintenance of equipment is performed based on the number of hours operated in accordance with our preventative maintenance program. Routine repair and maintenance costs are charged to expense as incurred; however, the costs of the overhauls and asset replacement projects that benefit future periods and which typically occur every three We evaluate our property and equipment for impairment whenever there are changes in facts that suggest that the value of the asset is not recoverable. As part of this analysis, we make assumptions and estimates regarding future market conditions. When circumstances indicate that the carrying value of the assets may not be recoverable, management compares the carrying value to the expected undiscounted pre-tax
Fair Value Measurements	Fair Value Measurements We measure certain of our assets and liabilities based on a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The three-level hierarchy, from highest to lowest level of observable inputs, are as follows: Level 1 - Valuations based on quoted prices in active markets for identical assets; Level 2 - Valuations based on observable inputs that do not meet the criteria for Level 1, including quoted prices in inactive markets and quoted prices in active markets for similar but not identical instruments; and Level 3 - Valuations based on unobservable inputs.
Revenue Recognition	Revenue Recognition The activities that primarily drive the revenue earned in our drilling contracts include (i) providing a drilling rig and the crew and supplies necessary to operate the rig, (ii) mobilizing and demobilizing the rig to and from the drill site, and (iii) performing rig preparation activities and/or modifications required for the contract. Consideration received for performing these activities may consist of dayrate drilling revenue, mobilization and demobilization revenue, contract preparation revenue and reimbursement revenue. We account for these integrated services provided within our drilling contracts as a single performance obligation satisfied over time and comprised of a series of distinct time increments in which we provide drilling services. Our standard drilling contracts require that we operate the rig at the direction of the customer throughout the contract term (which is the period we estimate to benefit from the corresponding activities and generally ranges from two The amount estimated for variable consideration may be subject to interrupted or restricted rates and is only included in the transaction price to the extent that it is probable that a significant reversal of previously recognized revenue will not occur throughout the term of the contract (“constrained revenue”). When determining if variable consideration should be constrained, management considers whether there are factors outside the Company’s control that could result in a significant reversal of revenue as well as the likelihood and magnitude of a potential reversal of revenue. These estimates are re-assessed each reporting period as required. Dayrate Drilling Revenue. Our drilling contracts generally provide for payment on a dayrate basis, with higher rates for periods when the drilling unit is operating and lower rates or zero rates for periods when drilling operations are interrupted or restricted. The dayrate invoices billed to the customer are typically determined based on the varying rates applicable to the specific activities performed on an hourly basis. Such dayrate consideration is allocated to the distinct hourly increment it relates to within the contract term, and therefore, recognized in line with the contractual rate billed for the services provided for any given hour. Mobilization/Demobilization Revenue. We may receive fees (on either a fixed lump-sum or variable dayrate basis) for the mobilization and demobilization of our rigs. These activities are not considered to be distinct within the context of the contract and, therefore, the associated revenue is allocated to the overall performance obligation and the associated pre-operating costs are deferred. We record a contract liability for mobilization fees received and a deferred asset for costs. Both revenue and pre-operating costs are recognized ratably over the initial term of the related drilling contract. In most contracts, there is uncertainty as to the amount of expected demobilization revenue due to contractual provisions that stipulate that certain conditions must be present at contract completion for such revenue to be received and as to the amount thereof, if any. For example, contractual provisions may require that a rig demobilize a certain distance before the demobilization revenue is payable or the amount may vary dependent upon whether or not the rig has additional contracted work within a certain distance from the wellsite. Therefore, the estimate for such revenue may be constrained, as described earlier, depending on the facts and circumstances pertaining to the specific contract. We assess the likelihood of receiving such revenue based on past experience and knowledge of the market conditions. In cases where demobilization revenue is expected to be received upon contract completion, it is estimated as part of the overall transaction price at contract inception and recognized in earnings ratably over the initial term of the contract with an offset to an accretive contract asset. Contract Preparation Revenue. Some of our drilling contracts require downtime before the start of the contract to prepare the rig to meet customer requirements. At times, we may be compensated by the customer for such work (on either a fixed lump-sum or variable dayrate basis). These activities are not considered to be distinct within the context of the contract and, therefore, the related revenue is allocated to the overall performance obligation and recognized ratably over the initial term of the related drilling contract. We record a contract liability for contract preparation fees received, which is amortized ratably to contract drilling revenue over the initial term of the related drilling contract. Bonuses, Penalties and Other Variable Consideration. We may receive bonus increases to revenue or penalty decreases to revenue. Based on historical data and ongoing communication with the operator/customer, we are able to reasonably estimate this variable consideration. We will record such estimated variable consideration and re-measure our estimates at each reporting date. For revenue estimated, but not received, we will record to “Prepaid expenses and other current assets” on our Consolidated Balance Sheets. Capital Modification Revenue . From time to time, we may receive fees from our customers for capital improvements to our rigs to meet contractual requirements (on either a fixed lump-sum or variable dayrate basis). Such revenue is allocated to the overall performance obligation and recognized ratably over the initial term of the related drilling contract as these activities are integral to our drilling activities and are not considered to be a stand-alone service provided to the customer within the context of our contracts. We record a contract liability for such fees and recognize them ratably as contract drilling revenue over the initial term of the related drilling contract. Revenues Related to Reimbursable Expenses . We generally receive reimbursements from our customers for the purchase of supplies, equipment, personnel services and other services provided at their request in accordance with a drilling contract or other agreement. Such reimbursable revenue is variable and subject to uncertainty, as the amounts received and timing thereof is highly dependent on factors outside of our influence. Accordingly, reimbursable revenue is constrained revenue and not included in the total transaction price until the uncertainty is resolved, which typically occurs when the related costs are incurred on behalf of a customer. We are generally considered a principal in such transactions and record the associated revenue at the gross amount billed to the customer as “Reimbursables and other” in our Consolidated Statements of Operations. Such amounts are recognized ratably over the period within the contract term during which the corresponding goods and services are to be consumed. Deferred revenues from drilling contracts totaled $59.9 million and $65.1 million at December 31, 2020 and 2019, respectively. Such amounts are included in either “Other current liabilities” or “Other liabilities” in the accompanying Consolidated Balance Sheets, based upon our expected time of recognition. Related expenses deferred under drilling contracts totaled $13.9 million at December 31, 2020 as compared to $30.8 million at December 31, 2019 and are included in either “Prepaid expenses and other current assets,” “Other assets” or “Property and equipment, net” in the accompanying Consolidated Balance Sheets, based upon our expected time of recognition. We record reimbursements from customers for “out-of-pocket” expenses as revenues and the related direct cost as operating expenses.
Income Taxes	Income Taxes Income taxes are based on the laws and rates in effect in the countries in which operations are conducted or in which we or our subsidiaries are considered resident for income tax purposes. In certain circumstances, we expect that, due to changing demands of the offshore drilling markets and the ability to redeploy our offshore drilling units, certain of such units will not reside in a location long enough to give rise to future tax consequences. As a result, no deferred tax asset or liability has been recognized in these circumstances. Should our expectations change regarding the length of time an offshore drilling unit will be used in a given location, we will adjust deferred taxes accordingly. Deferred tax assets and liabilities are recognized for the anticipated future tax effects of temporary differences between the financial statement basis and the tax basis of our assets and liabilities using the applicable jurisdictional tax rates at year-end. A valuation allowance for deferred tax assets is recorded when it is more likely than not that the deferred tax asset will not be realized in a future period. We operate through various subsidiaries in numerous countries throughout the world, including the United States. Consequently, we are subject to changes in tax laws, treaties or regulations or the interpretation or enforcement thereof in the United States, UK and any other jurisdictions in which we or any of our subsidiaries operate or are resident. Our income tax expense is based upon our interpretation of the tax
Insurance Reserves	Insurance Reserves We maintain various levels of self-insured retention for certain losses including property damage, loss of hire, employment practices liability, employers’ liability and general liability, among others. We accrue for property damage and loss of hire charges on a per event basis.
Earnings per Share	Earnings per Share Our unvested share-based payment awards, which contain non-forfeitable rights to dividends, are participating securities and are included in the computation of earnings per share pursuant to the two-class method. The two-class method allocates undistributed earnings between common shares and participating securities. The diluted earnings per share calculation under the two-class method also includes the dilutive effect of potential shares issued in connection with stock options. The dilutive effect of stock options is determined using the treasury stock method.
Share-Based Compensation Plans and Liability-Classified Awards	Share-Based Compensation Plans We record the grant date fair value of share-based compensation arrangements as compensation cost using a straight-line method over the service period. Share-based compensation is expensed or capitalized based on the nature of the employee’s activities. Liability-Classified Awards
Litigation Contingencies	Litigation Contingencies We are involved in legal proceedings, claims, and regulatory, tax or government inquiries and investigations that arise in the ordinary course of business. Certain of these matters include speculative claims for substantial or indeterminate amounts of damages. We record a liability when we believe that it is both probable that a loss has been incurred and the amount can be reasonably estimated. If we determine that a loss is reasonably possible and the loss or range of loss can be estimated, we disclose the possible loss in the notes to the consolidated financial statements. We review the developments in our contingencies that could affect the amount of the provisions that has been previously recorded, and the matters and related possible losses disclosed. We make adjustments to our provisions and changes to our disclosures accordingly to reflect the impact of negotiations, settlements, rulings, advice of legal counsel, and updated information. Significant judgement is required to determine both the probability and the estimated amount.
Foreign Currency Translation	Foreign Currency Translation Although we are a Cayman Islands company, our functional currency is the US dollar, and we define any non-US dollar denominated currency as “foreign currencies.” In non-US locations where the US Dollar has been designated as the functional currency (based on an evaluation of factors including the markets in which the subsidiary operates, inflation, generation of cash flow, financing activities and intercompany arrangements), local currency transaction gains and losses are included in net income or loss. In non-US locations where the local currency is the functional currency, assets and liabilities are translated at the rates of exchange on the balance sheet date, while statement of operations items are translated at average rates of exchange during the year. The resulting gains or losses arising from the translation of
Discontinued Operations	Discontinued Operations On August 1, 2014, Legacy Noble completed the separation and spin-off of a majority of its standard specification offshore drilling business (the “Spin-off”) through a pro rata distribution of all of the ordinary shares of its wholly-owned subsidiary, Paragon Offshore plc (“Paragon Offshore”), to the holders of Noble’s ordinary shares. Paragon Offshore, which had been reflected as continuing operations in our consolidated financial statements prior to the Spin-off, meets the criteria for being reported as discontinued operations and has been reclassified as such in our results of operations.
Certain Significant Estimates	Certain Significant Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amount of revenues and expenses during the reporting period. Certain accounting policies involve judgments and uncertainties to such an extent that there is reasonable likelihood that materially different amounts could have been reported under different conditions, or if different assumptions had been used. We evaluate our estimates and assumptions on a regular basis. We base our estimates on historical experience and various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates and assumptions used in preparation of our consolidated financial statements.
Accounting Pronouncements	Accounting Pronouncements Accounting Standards Adopted In August 2018, the FASB issued Accounting Standards Update (“ASU”) No. 2018-14, which amends Accounting Standards Codification (“ASC”) Subtopic 715-20, “Compensation — Retirement Benefits — Defined Benefit Plans — General.” This update applies to all employers that sponsor defined benefit pension or other postretirement plans and is part of the disclosure framework project to improve the effectiveness of disclosures in notes to the financial statements. The amendment is effective for fiscal years ending after December 15, 2020. We adopted this standard effective January 1, 2020 and our adoption did not have a material effect on our consolidated financial statements. In June 2016, the FASB issued ASU No. 2016-13 (Topic 326, “Measurement of Credit Losses on Financial Instruments”), which requires changes to the recognition of credit losses on financial instruments not accounted for at fair value through net income, including loans, debt securities, trade receivables, net investments in leases and available-for-sale debt securities. This guidance is effective for annual and interim periods beginning after December 15, 2019. Entities are required to apply the standard’s provisions as a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is adopted. We adopted this standard effective January 1, 2020 and our adoption did not have a material effect on our consolidated financial statements. Recently Issued Accounting Standards In December 2019 , the FASB issued ASU No. 2019 -12, which amends ASC Topic 740, “Income Taxes” This update simplifies the accounting for income taxes by removing certain exceptions to general principles. The amendment is effective for fiscal years beginning after December 15, 2020 and is required to be adopted on a retrospective basis for all periods presented. We do not expect the adoption of this guidance to materially affect our consolidated financial statements. With the exception of the updated standards discussed above, there have been no new accounting pronouncements not yet effective that have significance, or potential significance, to our consolidated financial statements.

Chapter 11 Proceedings (Tables)

Chapter 11 Proceedings (Tables)	12 Months Ended
	Dec. 31, 2020
Bankruptcy Proceedings [Abstract]
Components Of Reorganization Items Net	The following table summarizes the components of reorganization items included in our Consolidated Statements of Operations for the year ended December 31, 2020: Noble Finco December 31, 2020 December 31, 2020 Adjustments for estimated litigation claims (1) (57,000) 4,500 Write-off of debt financing costs and discount 45,469 45,469 Professional fees (1) 37,296 2,644 Revision of estimated claims (1,835) (1,835) Total Reorganization items, net $ 23,930 $ 50,778 (1) Payments of $25.6 million and $5.0 million related to professional fees and the first installment payment for the previously disclosed patent infringement settlement with Transocean Ltd. (“Transocean”) have been presented as cash outflows from operating activities in our Consolidated Statements of Cash Flows for the year ended December 31, 2020 for Noble and Finco, respectively.
Schedule Of Components Of Liabilities Subject To Compromise	The following table summarizes the components of liabilities subject to compromise included on our Consolidated Balance Sheet as of December 31, 2020: Noble Finco December 31, 2020 December 31, 2020 4.900% Senior Notes due August 2020 $ 62,535 $ 62,535 4.625% Senior Notes due March 2021 79,936 79,936 3.950% Senior Notes due March 2022 21,213 21,213 7.750% Senior Notes due January 2024 397,025 397,025 7.950% Senior Notes due April 2025 450,000 450,000 7.875% Senior Notes due February 2026 750,000 750,000 6.200% Senior Notes due August 2040 393,596 393,596 6.050% Senior Notes due March 2041 395,002 395,002 5.250% Senior Notes due March 2042 483,619 483,619 8.950% Senior Notes due April 2045 400,000 400,000 2017 Credit Facility 545,000 545,000 Litigation 93,000 8,000 Accrued and unpaid interest 110,301 110,301 Accounts payable and other liabilities 37,447 37,359 Lease liabilities 20,969 20,969 Total consolidated liabilities subject to compromise $ 4,239,643 $ 4,154,555

Loss Per Share (Tables)

Loss Per Share (Tables)	12 Months Ended
	Dec. 31, 2020
Earnings Per Share [Abstract]
Computation of Basic and Diluted Earnings Per Share for Noble-UK	The following table presents the computation of basic and diluted loss per share for Legacy Noble: Year Ended December 31, 2020 2019 2018 Numerator: Basic Net loss from continuing operations $ (3,978,459) $ (696,769) $ (885,050) Net loss from discontinued operations, net of tax — (3,821) — Net loss attributable to Noble Corporation $ (3,978,459) $ (700,590) $ (885,050) Diluted Net loss from continuing operations $ (3,978,459) $ (696,769) $ (885,050) Net loss from discontinued operations, net of tax — (3,821) — Net loss attributable to Noble Corporation $ (3,978,459) $ (700,590) $ (885,050) Denominator: Weighted average shares outstanding — basic 250,792 248,949 246,614 Weighted average shares outstanding — diluted 250,792 248,949 246,614 Loss per share Basic: Loss from continuing operations $ (15.86) $ (2.79) $ (3.59) Loss from discontinued operations — (0.02) — Net loss attributable to Noble Corporation $ (15.86) $ (2.81) $ (3.59) Diluted: Loss from continuing operations $ (15.86) $ (2.79) $ (3.59) Loss from discontinued operations — (0.02) — Net loss attributable to Noble Corporation $ (15.86) $ (2.81) $ (3.59) Dividends per share $ — $ — $ —

Property and Equipment (Tables)

Property and Equipment (Tables)	12 Months Ended
	Dec. 31, 2020
Property, Plant and Equipment [Abstract]
Property and Equipment, at Cost	Property and equipment, at cost, for Noble consisted of the following: Year Ended December 31, 2020 2019 Drilling equipment and facilities $ 4,476,960 $ 10,014,314 Construction in progress 99,812 88,904 Other 200,925 203,407 Property and equipment, at cost $ 4,777,697 $ 10,306,625

Debt (Tables)

Debt (Tables)	12 Months Ended
	Dec. 31, 2020
Debt Disclosure [Abstract]
Schedule of Debt	The following table presents the carrying value, net of unamortized debt issuance costs and discounts, and the estimated fair value of our total debt, not including the effect of unamortized debt issuance costs, respectively: December 31, 2020 (1) December 31, 2019 Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value Senior unsecured notes 4.900% Senior Notes due August 2020 $ 62,535 $ 1,366 $ 62,505 $ 60,660 4.625% Senior Notes due March 2021 79,936 1,596 79,854 64,262 3.950% Senior Notes due March 2022 21,213 354 21,181 12,170 7.750% Senior Notes due January 2024 397,025 7,925 389,800 211,035 7.950% Senior Notes due April 2025 450,000 8,348 446,962 228,515 7.875% Senior Notes due February 2026 750,000 301,935 739,371 546,353 6.200% Senior Notes due August 2040 393,596 7,966 390,526 149,134 6.050% Senior Notes due March 2041 395,002 7,327 389,809 142,646 5.250% Senior Notes due March 2042 483,619 9,701 478,122 176,265 8.950% Senior Notes due April 2045 400,000 7,420 390,763 164,664 Seller loans: Seller-financed secured loan due September 2022 — — 62,453 36,968 Seller-financed secured loan due February 2023 — — 55,658 31,175 Credit facility: 2017 Credit Facility due to mature January 2023 545,000 545,000 335,000 335,000 Total debt 3,977,926 898,938 3,842,004 2,158,847 Less: Current maturities of long-term debt — — 62,505 60,660 Long-term debt (2) $ — $ — $ 3,779,499 $ 2,098,187 (1) Includes write-off of applicable deferred financing cost and discounts of $45.5 million. See “Note 2— Chapter 11 Proceedings” for additional information. (2) All of our long-term debt as of December 31, 2020 has been presented as “Liabilities subject to compromise”. See “Note 2— Chapter 11 Proceedings” for additional information.

Equity (Tables)

Equity (Tables)	12 Months Ended
	Dec. 31, 2020
Equity [Abstract]
Summary of Stock Options Granted	A summary of the status of stock options granted under the 1991 Plan as of December 31, 2020, 2019 and 2018 and the changes during the year ended on those dates is presented below: 2020 2019 2018 Number of Weighted Number of Weighted Number of Weighted Outstanding at beginning of year 708,400 $ 30.90 1,103,242 $ 28.74 1,313,155 $ 29.51 Expired (152,245) 32.78 (394,842) 24.85 (209,913) 33.56 Outstanding at end of year (1) 556,155 30.39 708,400 30.90 1,103,242 28.74 Exercisable at end of year (1) 556,155 $ 30.39 708,400 $ 30.90 1,103,242 $ 28.74 (1) Options outstanding and exercisable at December 31, 2020 had no intrinsic value.
Additional Information about Stock Options Outstanding	The following table summarizes additional information about stock options outstanding at December 31, 2020: Options Outstanding and Exercisable Number of Weighted Weighted $20.49 to $25.41 53,934 1.02 $ 25.41 $25.42 to $30.59 277,177 1.09 30.59 $30.60 to $32.78 225,044 0.10 31.33 Total 556,155 0.68 $ 30.39
Assumptions used to Value Performance-Vested Restricted Stock Awards	The assumptions used to value the PVRSUs include historical volatility and risk-free interest rates over a time period commensurate with the remaining term prior to vesting, as follows: 2020 2019 2018 Valuation assumptions: Expected volatility 69.8 % 59.6 % 61.8 % Risk-free interest rate 1.40 % 2.50 % 2.31 %
Summary of Restricted Share Awards	A summary of the RSUs awarded for each of the years ended December 31, 2020, 2019 and 2018 is as follows: 2020 2019 2018 TVRSU Units awarded 5,559,678 4,639,119 3,578,212 Weighted-average share price at award date $ 0.82 $ 3.02 $ 4.71 Weighted-average vesting period (years) 3.0 3.0 3.0 PVRSU Units awarded 2,696,774 1,623,399 2,733,906 Weighted-average share price at award date $ 0.91 $ 3.13 $ 4.55 Three-year performance period ended December 31 2022 2021 2020 Weighted-average award date fair value $ 1.14 $ 3.61 $ 2.96
Summary of Status of Non-Vested Restricted Shares	A summary of the status of non-vested RSUs at December 31, 2020 and changes during the year ended December 31, 2020 is presented below: TVRSUs Weighted PVRSUs Outstanding (1) Weighted Non-vested RSUs at January 1, 2020 6,329,029 $ 3.89 4,854,352 $ 3.56 Awarded 5,559,678 0.82 2,696,774 1.14 Vested (2,924,900) 4.24 (1,063,242) 4.37 Forfeited (6,601,307) 1.19 (3,324,771) 1.67 Non-vested RSUs at December 31, 2020 2,362,500 $ 3.43 3,163,113 $ 3.22 (1) For awards granted prior to 2019, the number of PVRSUs shown equals the units that would vest if the “maximum” level of performance is achieved. The minimum number of units is zero and the “target” level of performance is 50 percent of the amounts shown. For awards granted during 2020 and 2019, the number of PVRSUs shown equals the units that would vest if the “target” level of performance is achieved. The minimum number of units is zero and the “maximum” level of performance is 200 percent of the amounts shown. A summary of the status of non-vested RSUs at December 31, 2020 and changes during the year ended December 31, 2020 is presented below: Number of Awards Weighted Non-vested Liability-Classified Award at January 1, 2020 — $ — Awarded 3,619,000 0.77 Vested (1) (2,401,362) 0.77 Forfeited (1,217,638) 0.77 Non-vested Liability-Classified Awards at December 31, 2020 — $ — (1) As of December 31, 2020, approximately 91,362 awards are still outstanding and fully vested. The remaining balance of the vested awards were cancelled and replaced as part of the 2020 Other Cash Award Plan.

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	12 Months Ended
	Dec. 31, 2020
Equity [Abstract]
Changes in AOCI by Component	The following table presents the changes in the accumulated balances for each component of “Accumulated other comprehensive income (loss)” for the years ended December 31, 2020 and 2019. All amounts within the tables are shown net of tax. Defined Benefit Pension Items (1) Foreign Currency Items Total Balance at December 31, 2018 $ (39,058) $ (18,014) $ (57,072) Activity during period: Other comprehensive loss before reclassifications — 260 260 Amounts reclassified from AOCI (1,577) — (1,577) Net other comprehensive loss (1,577) 260 (1,317) Balance at December 31, 2019 $ (40,635) $ (17,754) $ (58,389) Activity during period: Other comprehensive income before reclassifications — (521) (521) Amounts reclassified from AOCI 898 — 898 Net other comprehensive income (loss) 898 (521) 377 Balance at December 31, 2020 $ (39,737) $ (18,275) $ (58,012) (1) Defined benefit pension items relate to actuarial changes and the amortization of prior service costs. Reclassifications from AOCI are recognized as expense on our Consolidated Statements of Operations through “Other income (expense).” See “Note 13— Employee Benefit Plans” for additional information.

Revenue and Customers (Tables)

Revenue and Customers (Tables)	12 Months Ended
	Dec. 31, 2020
Revenue from Contract with Customer [Abstract]
Contract with Customer, Asset and Liability	The following table provides information about contract assets and contract liabilities from contracts with customers: December 31, 2020 December 31, 2019 Current contract assets $ 10,687 $ 21,292 Noncurrent contract assets 3,174 9,508 Total contract assets 13,861 30,800 Current contract liabilities (deferred revenue) (34,990) (34,196) Noncurrent contract liabilities (deferred revenue) (24,896) (30,859) Total contract liabilities $ (59,886) $ (65,055) Significant changes in the remaining performance obligation contract assets and the contract liabilities balances for the years ended December 31, 2020 and 2019 are as follows: Contract Assets Contract Liabilities Net balance at December 31, 2018 $ 47,664 $ (80,753) Amortization of deferred costs (39,936) — Additions to deferred costs 23,072 — Amortization of deferred revenue — 65,312 Additions to deferred revenue — (49,614) Total (16,864) 15,698 Net balance at December 31, 2019 $ 30,800 $ (65,055) Amortization of deferred costs (27,043) — Additions to deferred costs 10,104 — Amortization of deferred revenue — 57,915 Additions to deferred revenue — (52,746) Total (16,939) 5,169 Net balance at December 31, 2020 $ 13,861 $ (59,886)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction	The following table reflects revenue expected to be recognized in the future related to unsatisfied performance obligations, by rig type, at the end of the reporting period: Year Ending December 31, 2021 2022 2023 2024 2025 and beyond Total Floaters $ 27,005 $ 13,487 $ 9,199 $ 915 $ — $ 50,606 Jackups 7,539 1,741 — — — 9,280 Total $ 34,544 $ 15,228 $ 9,199 $ 915 $ — $ 59,886
Disaggregation of revenue by rig types	The following table provides information about contract drilling revenue by rig types: Year Ended December 31, 2020 Year Ended December 31, 2019 Floaters (1) 491,407 727,177 Jackups 417,829 518,881 Total (1) 909,236 1,246,058 (1) Includes the impact of the Noble Bully II contract buyout during the year ended December 31, 2019. Exclusive of this item, revenue for the year ended December 31, 2019 would have been $560,319 for floaters and $1,079,200 for total rigs.

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2020
Leases [Abstract]
Supplemental Financial Information and Lease Cost	Supplemental balance sheet information related to leases was as follows: December 31, 2020 December 31, 2019 Operating Leases Operating lease right-of-use assets $ 26,648 $ 33,480 Current operating lease liabilities 1,942 6,591 Long-term operating lease liabilities 4,969 26,778 Weighted average remaining lease term for operating leases (years) 7.8 7.7 Weighted average discounted rate for operating leases 11.1 % 9.7 % The components of lease cost were as follows: Year Ended December 31, 2020 Year Ended December 31, 2019 Operating lease cost $ 9,065 $ 8,878 Short-term lease cost 2,893 7,012 Variable lease cost 1,265 1,620 Total lease cost $ 13,223 $ 17,510 Supplemental cash flow information related to leases was as follows: Year Ended December 31, 2020 Year Ended December 31, 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 9,614 $ 8,812
Maturities of Lease Liabilities	Maturities of lease liabilities as of December 31, 2020 were as follows: Operating Leases 2021 $ 8,594 2022 5,545 2023 3,567 2024 3,629 2025 3,687 Thereafter 17,018 Total lease payments 42,040 Less: Interest (14,343) Present value of lease liability (1) $ 27,697 (1) Includes $21.0 million of lease liabilities which are currently classified as “Liabilities subject to compromise” on our Consolidated Balance Sheet.

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Components of Net Deferred Taxes	The components of the net deferred taxes are as follows: 2020 2019 Deferred tax assets United States Net operating loss carry forwards $ 79,047 $ 129,695 Disallowed interest deduction carryforwards 62,337 92,030 Deferred pension plan amounts 10,568 10,447 Accrued expenses not currently deductible 5,625 8,434 Other 3,178 2,356 Non-United States Net operating loss carry forwards 47,187 22,426 Disallowed interest deduction carryforwards 13,625 13,942 Deferred pension plan amounts 558 787 Deferred tax assets 222,125 280,117 Less: valuation allowance (191,835) (8,084) Net deferred tax assets $ 30,290 $ 272,033 Deferred tax liabilities United States Excess of net book basis over remaining tax basis $ (30,349) $ (299,136) Other (1,796) (2,420) Non-United States Excess of net book basis over remaining tax basis (5,474) (4,780) Other (1,272) (1,342) Deferred tax liabilities (38,891) (307,678) Net deferred tax liabilities $ (8,601) $ (35,645)
Income (Loss) from Continuing Operations Before Income Taxes	Loss from continuing operations before income taxes consists of the following: Year Ended December 31, 2020 2019 2018 United States $ (2,150,591) $ (65,062) $ (136,083) Non-United States (2,088,271) (844,022) (1,101,093) Total $ (4,238,862) $ (909,084) $ (1,237,176)
Income Tax Provision for Continuing Operations	The income tax provision (benefit) for continuing operations consists of the following: Year Ended December 31, 2020 2019 2018 Current- United States $ (257,552) $ (34,726) $ (56,574) Current- Non-United States 23,474 14,011 18,348 Deferred- United States (57,514) (5,307) (67,371) Deferred- Non-United States 31,189 (12,518) (1,044) Total $ (260,403) $ (38,540) $ (106,641)
Reconciliation of Reserve for Uncertain Tax Positions, Excluding Interest and Penalties	The following is a reconciliation of our reserve for uncertain tax positions, excluding interest and penalties. 2020 2019 2018 Gross balance at January 1, $ 130,837 $ 161,256 $ 174,437 Additions based on tax positions related to current year 20,266 934 97 Additions for tax positions of prior years 206 224 25 Reductions for tax positions of prior years (109,330) (28,542) (12,806) Expiration of statutes (4,258) (1,629) (497) Tax settlements — (1,406) — Gross balance at December 31, 37,721 130,837 161,256 Related tax benefits (384) (400) (1,008) Net reserve at December 31, $ 37,337 $ 130,437 $ 160,248
Summary of Liabilities Related to Reserve for Uncertain Tax Positions	The liabilities related to our reserve for uncertain tax positions are comprised of the following: 2020 2019 Reserve for uncertain tax positions, excluding interest and penalties $ 37,337 $ 130,437 Interest and penalties included in “Other liabilities” 5,164 29,232 Reserve for uncertain tax positions, including interest and penalties $ 42,501 $ 159,669
Schedule of Effective Tax Rate Reconciliation	A reconciliation of tax rates outside of the United Kingdom and the Cayman Islands to our Legacy Noble effective rate for continuing operations is shown below: Year Ended December 31, 2020 2019 2018 Effect of: Tax rates which are different than the UK and Cayman Island rates 0.4 % 4.3 % 5.0 % Tax impact of asset impairment and disposition 4.5 % 0.3 % 2.9 % Tax impact of restructuring 2.1 % (4.1) % — % Tax impact of the tax regulation change 0.9 % — % 2.1 % Tax impact of valuation allowance (4.3) % 0.5 % (1.0) % Resolution of (reserve for) tax authority audits 2.5 % 3.2 % (0.4) % Total 6.1 % 4.2 % 8.6 %

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	12 Months Ended
	Dec. 31, 2020
Retirement Benefits [Abstract]
Reconciliation of Changes in Projected Benefit Obligations for our Non - U.S. and U.S. Plans	A reconciliation of the changes in projected benefit obligations (“PBO”) for our non-US and US plans is as follows: Years Ended December 31, 2020 2019 Non-US US Non-US US Benefit obligation at beginning of year $ 62,485 $ 240,249 $ 54,898 $ 210,944 Service cost — — — — Interest cost 1,877 7,567 1,814 8,711 Actuarial loss (gain) 7,190 28,266 6,649 29,078 Plan amendments 104 — — — Benefits paid (2,261) (8,024) (2,821) (7,201) Settlements and curtailments (3,751) (1,968) — (1,283) Foreign exchange rate changes 2,299 — 1,945 — Benefit obligation at end of year $ 67,943 $ 266,090 $ 62,485 $ 240,249
Reconciliation of Changes in Fair Value of Plan Assets	A reconciliation of the changes in fair value of plan assets is as follows: Years Ended December 31, 2020 2019 Non-US US Non-US US Fair value of plan assets at beginning of year $ 76,429 $ 194,160 $ 68,597 $ 165,730 Actual return on plan assets 8,741 36,247 8,282 35,597 Employer contributions — 2,002 — 1,317 Benefits paid (2,261) (8,024) (2,821) (7,201) Settlement and curtailment (3,751) (1,968) — (1,283) Foreign exchange rate changes 4,650 — 2,371 — Fair value of plan assets at end of year $ 83,808 $ 222,417 $ 76,429 $ 194,160
Funded Status of Plans	The funded status of the plans is as follows: Years Ended December 31, 2020 2019 Non-US US Non-US US Funded status $ 15,865 $ (43,673) $ 13,944 $ (46,089)
Schedule of Amounts Recognized in Balance Sheet	Amounts recognized in the Consolidated Balance Sheets consist of: Years Ended December 31, 2020 2019 Non-US US Non-US US Other assets (noncurrent) $ 15,865 $ — $ 13,944 $ — Other liabilities (current) — (8,169) — (2,535) Other liabilities (noncurrent) — (35,504) — (43,554) Net amount recognized $ 15,865 $ (43,673) $ 13,944 $ (46,089)
Amounts Recognized in Accumulated Other Comprehensive Loss	Amounts recognized in AOCI consist of: Years Ended December 31, 2020 2019 Non-US US Non-US US Net actuarial loss $ 3,108 $ 47,094 $ 4,758 $ 46,420 Prior service cost — — — — Deferred income tax asset (558) (9,890) (787) (9,748) Accumulated other comprehensive loss $ 2,550 $ 37,204 $ 3,971 $ 36,672
Pension Costs	Pension costs include the following components: Years Ended December 31, 2020 2019 2018 Non-US US Non-US US Non-US US Service cost $ — $ — $ — $ — $ — $ — Interest cost 1,877 7,567 1,814 8,711 1,747 8,179 Return on plan assets (1,649) (11,676) (2,471) (10,313) (2,762) (11,914) Amortization of prior service cost 10 — 10 — — — Recognized net actuarial loss — 2,866 — 2,771 — 1,642 Settlement and curtailment gains 9 154 — (37) — 135 Net pension benefit cost (gain) $ 247 $ (1,089) $ (647) $ 1,132 $ (1,015) $ (1,958)
Disaggregated Plan Information	Disaggregated information regarding our non-US and US plans is summarized below: Years Ended December 31, 2020 2019 Non-US US Non-US US Projected benefit obligation $ 67,943 $ 266,090 $ 62,485 $ 240,249 Accumulated benefit obligation 67,943 266,090 62,485 240,249 Fair value of plan assets 83,808 222,417 76,429 194,160
Plans in which PBO Exceeded Fair Value	The following table provides information related to those plans in which the PBO exceeded the fair value of the plan assets at December 31, 2020 and 2019. The PBO is the actuarially computed present value of earned benefits based on service to date and includes the estimated effect of any future salary increases. Employees and alternate payees have no longer accrued future benefits under the plans since December 31, 2017. Years Ended December 31, 2020 2019 Non-US US Non-US US Projected benefit obligation $ — $ 266,090 $ — $ 240,249 Fair value of plan assets — 222,417 — 194,160
Plans in which Accumulated Benefit Obligation Exceeded Fair Value of Plan Assets	The following table provides information related to those plans in which the accumulated benefit obligation (“ABO”) exceeded the fair value of plan assets at December 31, 2020 and 2019. The ABO is the actuarially computed present value of earned benefits based on service to date, but differs from the PBO in that it is based on current salary levels. Employees and alternate payees have no longer accrued future benefits under the plans since December 31, 2016. Years Ended December 31, 2020 2019 Non-US US Non-US US Accumulated benefit obligation $ — $ 266,090 $ — $ 240,249 Fair value of plan assets — 222,417 — 194,160
Defined Benefit Plans Key Assumptions	The key assumptions for the plans are summarized below: Years Ended December 31, 2020 2019 Non-US US Non-US US Weighted-average assumptions used to determine benefit obligations: Discount Rate 1.40% 1.82% -2.60% 2.10% 2.56% - 3.32% Rate of compensation increase N/A N/A N/A N/A Years Ended December 31, 2020 2019 2018 Non-US US Non-US US Non-US US Weighted-average assumptions used to determine periodic benefit cost: Discount Rate 2.10% 2.56% - 3.32% 2.90% 3.65% - 4.29% 2.60% 2.84% - 3.66% Expected long-term return on assets 2.90% 5.40% - 6.30% 3.70% 5.40% -6.50% 3.70% 5.75% -6.50% Rate of compensation increase N/A N/A N/A N/A N/A N/A
Actual Fair Values of Defined Benefit Plans	The actual fair values of the non-US plan are as follows: Year Ended December 31, 2020 Estimated Fair Value Measurements Carrying Amount Quoted Prices in Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Cash and cash equivalents $ 5,405 $ 5,405 $ — $ — Equity securities: International companies 4,179 4,179 — — Fixed income securities: Corporate bonds 72,407 72,407 — — Other 1,817 1,817 — — Total $ 83,808 $ 83,808 $ — $ — Year Ended December 31, 2019 Estimated Fair Value Carrying Amount Quoted Prices in Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Cash and cash equivalents $ 903 $ 903 $ — $ — Equity securities: International companies 26,131 26,131 — — Fixed income securities: Corporate bonds 49,395 49,395 — — Other — — — — Total $ 76,429 $ 76,429 $ — $ — The actual fair values of US plan assets are as follows: Year Ended December 31, 2020 Estimated Fair Value Carrying Quoted Significant Significant Cash and cash equivalents $ 1,727 $ 1,727 $ — $ — Equity securities: United States 78,019 32,387 45,632 — International 32,310 32,310 — — Fixed income securities: Corporate bonds 83,645 82,669 976 — Municipal bonds — — — Treasury bonds 26,716 26,716 — — Total $ 222,417 $ 175,809 $ 46,608 $ — Year Ended December 31, 2019 Estimated Fair Value Carrying Quoted Significant Significant Cash and cash equivalents $ 2,254 $ 2,254 $ — $ — Equity securities: United States 60,422 21,502 38,920 — International 23,470 23,470 — — Fixed income securities: Corporate bonds 75,131 74,253 878 — Municipal bonds 1,064 $ — $ 1,064 Treasury bonds 31,819 31,819 — — Total $ 194,160 $ 153,298 $ 40,862 $ —
Estimated Benefit Payments	The following table summarizes our estimated benefit payments at December 31, 2020: Payments by Period Total 2021 2022 2023 2024 2025 Thereafter Estimated benefit payments Non-US plans $ 24,311 $ 2,071 $ 2,143 $ 2,218 $ 2,296 $ 2,376 $ 13,207 US plans 115,735 17,319 9,648 10,157 10,367 10,824 57,420 Total estimated benefit payments $ 140,046 $ 19,390 $ 11,791 $ 12,375 $ 12,663 $ 13,200 $ 70,627

Derivative Instruments and He_2

Derivative Instruments and Hedging Activities (Tables)	12 Months Ended
	Dec. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Summarization of Recognized Gains and Losses of Cash Flow Hedges	The following table, together with “Note 15— Fair Value of Financial Instruments,” summarizes the recognized gains and losses of cash flow hedges and non-designated derivatives through AOCI or as “Contract drilling services” revenue or costs for the years ended December 31, 2020 and 2019: Year Ended December 31, 2020 2019 Gain/(loss) reclassified from AOCI to “ Contract drilling services ” costs Cash flow hedges Foreign currency forward contracts $ — $ 320

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2020
Fair Value Disclosures [Abstract]
Carrying Amount and Estimated Fair Value of Financial Instruments	The following tables present the carrying amount and estimated fair value of our financial instruments recognized at fair value on a recurring basis: December 31, 2020 Estimated Fair Value Measurements Carrying Amount Quoted Prices in Active Markets (Level 1) Significant Other Observable Inputs Significant Unobservable Inputs Assets - Marketable securities $ 12,326 $ 12,326 $ — $ — December 31, 2019 Estimated Fair Value Measurements Carrying Amount Quoted Prices in Active Markets (Level 1) Significant Other Observable Inputs Significant Unobservable Inputs Assets - Marketable securities $ 10,433 $ 10,433 $ — $ —

Segment and Related Informati_2

Segment and Related Information (Tables)	12 Months Ended
	Dec. 31, 2020
Segment Reporting [Abstract]
Revenues and Identifiable Assets by Country Based on the Location of the Service Provided	The following table presents revenues and identifiable assets by country based on the location of the service provided: Revenues for Year Ended December 31, Identifiable Assets as of December 31, 2020 2019 2018 2020 2019 Australia $ 50,434 $ 33,623 $ — $ 30,498 $ 244,244 Brazil — — — 14,184 8,910 Brunei — — 3,080 — — Bulgaria — 61,525 84,757 — — Canada 28,915 46,147 47,085 4,579 199,696 Curacao — — — — 75,776 Denmark 7,662 31,076 35,855 — 238,413 East Timor — — 33,733 — — Egypt — 49,209 112,473 — — Gabon 147 — — 4,509 4,160 Guyana 222,088 132,414 50,839 1,824,921 1,807,296 Malaysia — 251,497 91,052 9,199 30,012 Mexico — — — 1,297 28,032 Myanmar 21,084 56,207 16,572 — 151,116 Qatar 31,024 36,948 35,180 24,024 219,569 Saudi Arabia 133,246 154,807 156,989 398,093 673,884 Singapore — — 1,769 — — Suriname 61,474 17,374 (3) 585,994 599,659 Tanzania — — 381 — — Trinidad and Tobago 9,468 — — 19,031 — United Arab Emirates — — (17) 52,266 31,150 United Kingdom 180,610 243,063 194,602 749,416 1,373,524 United States 209,401 191,548 218,479 545,926 2,599,057 Vietnam 8,719 — — — — Total $ 964,272 $ 1,305,438 $ 1,082,826 $ 4,263,937 $ 8,284,498

Supplemental Financial Inform_2

Supplemental Financial Information (Tables)	12 Months Ended
	Dec. 31, 2020
Supplemental Financial Information [Abstract]
Effect of Changes in Other Assets and Liabilities on Cash Flows from Operating Activities	The net effect of changes in other assets and liabilities on cash flows from operating activities is as follows: Noble Finco December 31, December 31, 2020 2019 2018 2020 2019 2018 Accounts receivable $ 50,802 $ 2,057 $ 3,974 $ 19,588 $ 2,057 $ 3,974 Other current assets (866) 3,573 (2,722) 7,830 4,046 (2,700) Other assets (2,369) 16,218 (10,378) (800) 18,749 (6,424) Accounts payable 357 (2,279) 14,955 (11,018) (2,182) 14,795 Other current liabilities 8,582 (4,700) (13,940) 16,055 (4,549) (13,495) Other liabilities (10,941) (24,577) (26,829) (10,941) (24,577) (26,829) Total net change in assets and liabilities $ 45,565 $ (9,708) $ (34,940) $ 20,714 $ (6,456) $ (30,679)
Additional Cash Flow Information	Additional cash flow information is as follows: Noble Finco December 31, December 31, 2020 2019 2018 2020 2019 2018 Cash paid during the period for: Interest, net of amounts capitalized $ 138,040 $ 289,457 $ 286,506 $ 138,040 $ 289,457 $ 286,506 Income taxes paid (refunded), net (133,708) 8,181 (107,554) (133,708) 8,181 (107,554)

Combined Debtor-In-Possession_2

Combined Debtor-In-Possession Financial Information (Tables)	12 Months Ended
	Dec. 31, 2020
Condensed Financial Information Disclosure [Abstract]
Condensed Consolidating Balance Sheet	COMBINED DEBTORS’ BALANCE SHEET (In thousands) December 31, 2020 ASSETS Current assets Cash and cash equivalents $ 201,239 Accounts receivable 117,179 Receivables from non-debtor affiliates 2,921,225 Taxes receivable 24,475 Prepaid expenses and other current assets 58,973 Short-term notes receivable from non-debtor affiliates 365,112 Total current assets 3,688,203 Property and equipment, at cost 4,728,956 Accumulated depreciation (1,184,698) Property and equipment, net 3,544,258 Investment in non-debtor affiliates 19,622,028 Receivables from non-debtor affiliates 551,368 Other assets 60,173 Total assets $ 27,466,030 LIABILITIES AND EQUITY Current liabilities Accounts payable $ 76,190 Accounts payable to non-debtor affiliates 36,140 Accrued payroll and related costs 31,327 Taxes payable 24,865 Other current liabilities 40,652 Total current liabilities 209,174 Deferred income taxes 8,678 Other liabilities 99,441 Liabilities subject to compromise, inclusive of payables to non-debtor affiliates of $6,217,729 10,457,372 Total liabilities 10,774,665 Total debtors ’ equity 16,691,365 Total liabilities and debtors’ equity $ 27,466,030
Condensed Consolidating Statement of Operations	COMBINED DEBTORS’ STATEMENTS OF OPERATIONS (In thousands) Year Ended December 31, 2020 Operating revenues Contract drilling services $ 717,655 Reimbursables and other 53,284 Non-debtor affiliates 103,551 874,490 Operating costs and expenses Contract drilling services 477,144 Reimbursables 47,794 Depreciation and amortization 372,663 General and administrative 120,497 Pre-petition charges 14,409 Loss on impairment 3,914,608 4,947,115 Operating loss (4,072,625) Other income (expense) Interest expense, net of amounts capitalized (164,421) Interest expense from non-debtor affiliates (33,421) Gain on extinguishment of debt, net 17,254 Interest income and other, net 9,548 Interest income from non-debtor affiliates 31,751 Reorganization items, net (23,930) Loss from continuing operations before income taxes (4,235,844) Income tax benefit (provision) 247,021 Net loss $ (3,988,823)
Condensed Consolidating Statement of Cash Flows	COMBINED DEBTORS’ STATEMENTS OF CASH FLOWS (In thousands) Year Ended December 31, 2020 Cash flows from operating activities Net loss $ (3,988,823) Adjustments to reconcile net loss to net cash flow from operating activities: Depreciation and amortization 372,663 Loss on impairment 3,914,608 Reorganization items, net (17,366) Gain on extinguishment of debt, net (17,254) Deferred income taxes (26,435) Amortization of share-based compensation 9,169 Other costs, net (42,020) Changes in components of working capital: Change in taxes receivable 28,117 Net changes in other operating assets and liabilities (274,902) Net changes in other operating assets and liabilities with non-debtor affiliates (143,759) Net cash used in operating activities (186,002) Cash flows from investing activities Capital expenditures (148,028) Proceeds from disposal of assets, net 26,999 Net cash used in investing activities (121,029) Cash flows from financing activities Borrowings on credit facilities 210,000 Repayments of senior notes (101,132) Cash paid to settle equity awards (1,010) Other financing activities with non-debtor affiliates 348,107 Taxes withheld on employee stock transactions (418) Net cash provided by financing activities 455,547 Net increase in cash, cash equivalents and restricted cash 148,516 Cash, cash equivalents and restricted cash, beginning of period 73,682 Cash, cash equivalents and restricted cash, end of period $ 222,198

Unaudited Interim Financial D_2

Unaudited Interim Financial Data (Tables)	12 Months Ended
	Dec. 31, 2020
Quarterly Financial Information Disclosure [Abstract]
Schedule of Unaudited Interim Financial Information	Unaudited interim consolidated financial information from continuing operations for Noble is as follows: Quarter Ended March 31 June 30 September 30 December 31 2020 Operating revenues $ 281,311 $ 237,918 $ 241,836 $ 203,207 Operating income (loss) (1,132,555) (95,453) (18,875) (2,829,662) Net loss from continuing operations (1,062,677) (42,194) (50,868) (2,822,720) Net loss per share from continuing operations attributable to Noble (1) Basic Loss from continuing operations (4.25) (0.17) (0.20) (11.24) Diluted Loss from continuing operations (4.25) (0.17) (0.20) (11.24) Quarter Ended March 31 June 30 September 30 December 31 2019 Operating revenues $ 282,888 $ 292,936 $ 275,526 $ 454,088 Operating loss (23,812) (118,710) (640,012) 116,261 Net loss from continuing operations (67,068) (151,960) (444,871) (32,870) Net loss from discontinued operations, net of tax (3,821) — — — Net loss per share from continuing operations attributable to Noble (1) Basic Loss from continuing operations (0.27) (0.61) (1.79) (0.13) Loss from discontinued operations (0.02) — — — Diluted Loss from continuing operations (0.27) (0.61) (1.79) (0.13) Loss from discontinued operations (0.02) — — — (1) Net loss per share is computed independently for each of the quarters presented. Therefore, the sum of the quarters’ net loss per share may not equal the total computed for the year.

Organization and Significant _3

Organization and Significant Accounting Policies - Additional Information (Details) $ in Thousands	Sep. 24, 2020sUBSIDIARY	Dec. 31, 2020USD ($)floaterjoint_venturerigjackup	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Dec. 03, 2019
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Number of rigs | rig		19
Number of floaters | floater		7
Number of jackups | jackup		12
Number of additional subsidiaries filed bankruptcy | sUBSIDIARY	6
Number of joint ventures | joint_venture		2
Percent of interest in joint ventures		50.00%
Interest acquired					50.00%
Restricted cash		$ 21,700	$ 1,300
Allowance for credit losses		1,069	1,939
Capital accruals		$ 35,300	36,000
Period for incurring maintenance costs, minimum		3 years
Period for incurring maintenance costs, maximum		5 years
Deferred revenues		$ 59,886	65,055	$ 80,753
Deferred expenses under drilling contracts		13,900	30,800
Loss reserves for personal injury and protection claims		30,900	27,900
Net loss from discontinued operations, net of tax		0	3,821	0
Noble Finance Company
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Restricted cash		1,700	1,300
Allowance for credit losses		1,069	1,939
Net loss from discontinued operations, net of tax		$ 0	$ 3,821	$ 0
Minimum
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Standard drilling contracts, term		2 months
Maximum
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Standard drilling contracts, term		60 months
Drilling Equipment | Minimum
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Maximum useful life of property plant and equipment		3 years
Drilling Equipment | Maximum
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Maximum useful life of property plant and equipment		30 years
Other | Minimum
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Maximum useful life of property plant and equipment		2 years
Other | Maximum
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Maximum useful life of property plant and equipment		40 years

Chapter 11 Proceedings - Additi

Chapter 11 Proceedings - Additional Information (Details) $ / shares in Units, $ in Millions	Mar. 05, 2021USD ($)claim	Feb. 05, 2021USD ($)member$ / sharesshares	Sep. 24, 2020sUBSIDIARY	Dec. 31, 2020USD ($)contract$ / shares	Feb. 18, 2021shares	Aug. 24, 2020USD ($)	Aug. 20, 2020	Dec. 31, 2019$ / shares
Debt Instrument [Line Items]
Number of additional subsidiaries filed bankruptcy | sUBSIDIARY			6
Common stock, par value (usd per share) | $ / shares				$ 0.01				$ 0.01
Cash on hand | $						$ 100
Number of executory contracts rejected | contract				3
Contractual interest expense on prepetition liabilities not recognized | $				$ 112.9
Subsequent Event
Debt Instrument [Line Items]
Plan of reorganization, number of the Successor's board of directors members | member		5
Plan of reorganization, Management Incentive Plan, number of shares authorized and reserved					7,700,000
Plan of reorganization, Management Incentive Plan, percentage of shares for initial awards		40.00%
Plan of reorganization, Management Incentive Plan, percentage of initial awards in form of time-based vesting awards		40.00%
Bankruptcy claims, number claims filed | claim	1,200
Bankruptcy claims, amount of claims filed | $	$ 23,000
Minimum
Debt Instrument [Line Items]
Postconfirmation, enterprise value | $						1,100
Minimum | Subsequent Event
Debt Instrument [Line Items]
Plan of reorganization, Management Incentive Plan, awards vesting period		3 years
Maximum
Debt Instrument [Line Items]
Postconfirmation, enterprise value | $						1,600
Maximum | Subsequent Event
Debt Instrument [Line Items]
Plan of reorganization, Management Incentive Plan, awards vesting period		4 years
Holders of Guaranteed Notes | Subsequent Event | Ordinary Shares Of Noble (New Shares)
Debt Instrument [Line Items]
Plan of reorganization, number of shares transferred		31,700,000
Common stock, par value (usd per share) | $ / shares		$ 0.00001
Holders of Legacy Notes | Subsequent Event | Ordinary Shares Of Noble (New Shares)
Debt Instrument [Line Items]
Plan of reorganization, number of shares transferred		2,100,000
Holders of Legacy Notes | Tranche 1 Warrants | Subsequent Event
Debt Instrument [Line Items]
Plan of reorganization, number of shares transferred		8,300,000
Plan of reorganization, warrants term		7 years
Exercise price of warrants (in USD per share) | $ / shares		$ 19.27
Holders of Legacy Notes | Tranche 2 Warrants | Subsequent Event
Debt Instrument [Line Items]
Plan of reorganization, number of shares transferred		8,300,000
Plan of reorganization, warrants term		7 years
Exercise price of warrants (in USD per share) | $ / shares		$ 23.13
Participants in the Rights Offering | Subsequent Event | Ordinary Shares Of Noble (New Shares)
Debt Instrument [Line Items]
Plan of reorganization, number of shares issued		7,700,000
Plan of reorganization, shares issued, subscription price | $		$ 200
Backstop Parties as Holdback Securities | Subsequent Event | Ordinary Shares Of Noble (New Shares)
Debt Instrument [Line Items]
Plan of reorganization, number of shares issued		5,600,000
Backstop Parties, Unsubscribed Securities | Subsequent Event | Ordinary Shares Of Noble (New Shares)
Debt Instrument [Line Items]
Plan of reorganization, number of shares issued		1,700,000
Backstop Parties, Backstop Premiums Payment | Subsequent Event | Ordinary Shares Of Noble (New Shares)
Debt Instrument [Line Items]
Plan of reorganization, number of shares issued		1,200,000
Holders of Legacy Noble's Ordinary Shares | Tranche 3 Warrants | Subsequent Event
Debt Instrument [Line Items]
Plan of reorganization, warrants term		5 years
Exercise price of warrants (in USD per share) | $ / shares		$ 124.40
Plan of reorganization, number of shares issued		2,800,000
Backstop Parties | Subsequent Event | Ordinary Shares Of Noble (New Shares)
Debt Instrument [Line Items]
Plan of reorganization, number of shares exchanged		6,500,000
Backstop Parties | Penny Warrants | Subsequent Event
Debt Instrument [Line Items]
Exercise price of warrants (in USD per share) | $ / shares		$ 0.01
Number of securities called by warrants (in shares)		6,500,000
Number of securities called by each warrant (in shares)		1
Senior Notes
Debt Instrument [Line Items]
Long-term debt | $				3,400
2017 Credit Facility | Line of Credit
Debt Instrument [Line Items]
Outstanding borrowings | $				545
2017 Credit Facility | Line of Credit | Letter of Credit
Debt Instrument [Line Items]
Outstanding borrowings | $				$ 8.8
Senior Notes due 2026 | Senior Notes
Debt Instrument [Line Items]
Lenders' ownership of aggregate outstanding principle amount, percentage							70.00%
Legacy Notes | Senior Notes
Debt Instrument [Line Items]
Lenders' ownership of aggregate outstanding principle amount, percentage							45.00%
Exit Credit Agreement | Line of Credit | Revolving Credit Facility | Subsequent Event
Debt Instrument [Line Items]
Debtor-in-possession financing, amount arranged | $		$ 675
Exit Credit Agreement | Line of Credit | Letter of Credit | Subsequent Event
Debt Instrument [Line Items]
Debtor-in-possession financing, amount arranged | $		$ 67.5
Exit Financing Facility and Second Lien Notes
Debt Instrument [Line Items]
Long-term debt | $						$ 430

Chapter 11 Proceedings - Compon

Chapter 11 Proceedings - Components Of Reorganization Items, Net (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Adjustments for estimated litigation claims	$ (57,000)
Write-off of debt financing costs and discount	45,469
Professional fees	37,296
Revision of estimated claims	(1,835)
Total Reorganization items, net	23,930	$ 0	$ 0
Reorganization items, payments related to professional fees	25,600
Noble Finance Company
Debt Instrument [Line Items]
Adjustments for estimated litigation claims	4,500
Write-off of debt financing costs and discount	45,469
Professional fees	2,644
Revision of estimated claims	(1,835)
Total Reorganization items, net	50,778	$ 0	$ 0
Reorganization items, payments related to professional fees	$ 5,000

Chapter 11 Proceedings - Comp_2

Chapter 11 Proceedings - Components of Liabilities Subject to Compromise (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Litigation	$ 93,000
Accrued and unpaid interest	110,301
Accounts payable and other liabilities	37,447
Lease liabilities	20,969
Total consolidated liabilities subject to compromise	4,239,643	$ 0
Line of Credit
Debt Instrument [Line Items]
Debt subject to compromise	$ 545,000
4.900% Senior Notes due August 2020 | Senior Notes
Debt Instrument [Line Items]
Interest rate, stated percentage	4.90%
Debt subject to compromise	$ 62,535
4.625% Senior Notes due March 2021 | Senior Notes
Debt Instrument [Line Items]
Interest rate, stated percentage	4.625%
Debt subject to compromise	$ 79,936
3.950% Senior Notes due March 2022 | Senior Notes
Debt Instrument [Line Items]
Interest rate, stated percentage	3.95%
Debt subject to compromise	$ 21,213
7.750% Senior Notes due January 2024 | Senior Notes
Debt Instrument [Line Items]
Interest rate, stated percentage	7.75%
Debt subject to compromise	$ 397,025
7.950% Senior Notes due April 2025 | Senior Notes
Debt Instrument [Line Items]
Interest rate, stated percentage	7.95%
Debt subject to compromise	$ 450,000
7.875% Senior Notes due February 2026 | Senior Notes
Debt Instrument [Line Items]
Interest rate, stated percentage	7.875%
Debt subject to compromise	$ 750,000
6.200% Senior Notes due August 2040 | Senior Notes
Debt Instrument [Line Items]
Interest rate, stated percentage	6.20%
Debt subject to compromise	$ 393,596
6.050% Senior Notes due March 2041 | Senior Notes
Debt Instrument [Line Items]
Interest rate, stated percentage	6.05%
Debt subject to compromise	$ 395,002
5.250% Senior Notes due March 2042 | Senior Notes
Debt Instrument [Line Items]
Interest rate, stated percentage	5.25%
Debt subject to compromise	$ 483,619
8.950% Senior Notes due April 2045 | Senior Notes
Debt Instrument [Line Items]
Interest rate, stated percentage	8.95%
Debt subject to compromise	$ 400,000
Noble Finance Company
Debt Instrument [Line Items]
Litigation	8,000
Accrued and unpaid interest	110,301
Accounts payable and other liabilities	37,359
Lease liabilities	20,969
Total consolidated liabilities subject to compromise	4,154,555	$ 0
Noble Finance Company | Line of Credit
Debt Instrument [Line Items]
Debt subject to compromise	545,000
Noble Finance Company | 4.900% Senior Notes due August 2020 | Senior Notes
Debt Instrument [Line Items]
Debt subject to compromise	62,535
Noble Finance Company | 4.625% Senior Notes due March 2021 | Senior Notes
Debt Instrument [Line Items]
Debt subject to compromise	79,936
Noble Finance Company | 3.950% Senior Notes due March 2022 | Senior Notes
Debt Instrument [Line Items]
Debt subject to compromise	21,213
Noble Finance Company | 7.750% Senior Notes due January 2024 | Senior Notes
Debt Instrument [Line Items]
Debt subject to compromise	397,025
Noble Finance Company | 7.950% Senior Notes due April 2025 | Senior Notes
Debt Instrument [Line Items]
Debt subject to compromise	450,000
Noble Finance Company | 7.875% Senior Notes due February 2026 | Senior Notes
Debt Instrument [Line Items]
Debt subject to compromise	750,000
Noble Finance Company | 6.200% Senior Notes due August 2040 | Senior Notes
Debt Instrument [Line Items]
Debt subject to compromise	393,596
Noble Finance Company | 6.050% Senior Notes due March 2041 | Senior Notes
Debt Instrument [Line Items]
Debt subject to compromise	395,002
Noble Finance Company | 5.250% Senior Notes due March 2042 | Senior Notes
Debt Instrument [Line Items]
Debt subject to compromise	483,619
Noble Finance Company | 8.950% Senior Notes due April 2045 | Senior Notes
Debt Instrument [Line Items]
Debt subject to compromise	$ 400,000

Consolidated Joint Ventures (De

Consolidated Joint Ventures (Details) $ in Thousands	Dec. 03, 2019USD ($)	Dec. 31, 2020USD ($)rigjoint_venture	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Schedule Of Equity Method Investments [Line Items]
Percent of interest in joint ventures		50.00%
Number of joint ventures | joint_venture		2
Number of Bully-class drillships | rig		2
Percentage of dividends paid to joint venture partner		50.00%
Loss on impairment		$ 3,915,408	$ 615,294	$ 802,133
Noble Bully I
Schedule Of Equity Method Investments [Line Items]
Ownership percentage	50.00%
Noble Bully II
Schedule Of Equity Method Investments [Line Items]
Ownership percentage	50.00%
Bully Joint Venture
Schedule Of Equity Method Investments [Line Items]
Payments to Acquire Interest in Joint Venture	$ 106,700
Dividends approved and paid			$ 50,200	55,200
Loss on impairment				250,300
Floaters | Bully Joint Venture
Schedule Of Equity Method Investments [Line Items]
Loss on impairment				$ 550,300
Subsidiary Of Royal Dutch Shell PLC
Schedule Of Equity Method Investments [Line Items]
Proceeds from contract termination	$ 166,900

Loss Per Share - Computation of

Loss Per Share - Computation of Basic and Diluted Earnings Per Share for Noble-UK (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Basic
Net loss from continuing operations	$ (2,822,720)	$ (50,868)	$ (42,194)	$ (1,062,677)	$ (32,870)	$ (444,871)	$ (151,960)	$ (67,068)	$ (3,978,459)	$ (696,769)	$ (885,050)
Net loss from discontinued operations, net of tax									0	(3,821)	0
Net loss attributable to Noble Corporation									(3,978,459)	(700,590)	(885,050)
Diluted
Net loss from continuing operations	$ (2,822,720)	$ (50,868)	$ (42,194)	$ (1,062,677)	$ (32,870)	$ (444,871)	$ (151,960)	$ (67,068)	(3,978,459)	(696,769)	(885,050)
Net loss from discontinued operations, net of tax									0	(3,821)	0
Net loss attributable to Noble Corporation									$ (3,978,459)	$ (700,590)	$ (885,050)
Denominator:
Weighted average shares outstanding - basic (in shares)									250,792	248,949	246,614
Weighted average shares outstanding - diluted (in shares)									250,792	248,949	246,614
Basic:
Loss from continuing operations (usd per share)	$ (11.24)	$ (0.20)	$ (0.17)	$ (4.25)	$ (0.13)	$ (1.79)	$ (0.61)	$ (0.27)	$ (15.86)	$ (2.79)	$ (3.59)
Loss from discontinued operations (usd per share)					0	0	0	(0.02)	0	(0.02)	0
Net loss attributable to Noble Corporation (usd per share)									(15.86)	(2.81)	(3.59)
Diluted:
Loss from continuing operations (usd per share)	$ (11.24)	$ (0.20)	$ (0.17)	$ (4.25)	(0.13)	(1.79)	(0.61)	(0.27)	(15.86)	(2.79)	(3.59)
Loss from discontinued operations (usd per share)					$ 0	$ 0	$ 0	$ (0.02)	0	(0.02)	0
Net loss attributable to Noble Corporation (usd per share)									(15.86)	(2.81)	(3.59)
Dividends per share (usd per share)									$ 0	$ 0	$ 0

Loss Per Share - Additional Inf

Loss Per Share - Additional Information (Details) - shares shares in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Stock option
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares excluded from the diluted net income per share (in shares)	6.1	11.9	12.5

Property and Equipment (Details

Property and Equipment (Details) $ in Thousands	Feb. 28, 2019USD ($)	Feb. 28, 2019USD ($)	Dec. 31, 2020USD ($)rig	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Property, Plant and Equipment [Line Items]
Property and equipment, at cost			$ 4,777,697	$ 10,306,625
Capital expenditures			148,200	306,400	$ 281,300
Capitalized interest on construction-in-progress			0	9,600	2,900
Loss on impairment			$ 3,915,408	615,294	$ 802,133
Number of rigs sold | rig			6
Rigs sold, net book value			$ 17,100
Total proceeds			26,700
Gain on sale of rigs			8,900
Drilling equipment and facilities
Property, Plant and Equipment [Line Items]
Property and equipment, at cost			4,476,960	10,014,314
Construction in progress
Property, Plant and Equipment [Line Items]
Property and equipment, at cost			99,812	88,904
Other
Property, Plant and Equipment [Line Items]
Property and equipment, at cost			$ 200,925	$ 203,407
Rig, the Noble Joe Knight
Property, Plant and Equipment [Line Items]
Purchase price of asset acquired		$ 83,800
Cash paid to acquire asset	$ 30,200
Seller-financed secured loan due February 2023 | Seller loans:
Property, Plant and Equipment [Line Items]
Financed value		$ 53,600

Loss on Impairment (Details)

Loss on Impairment (Details) $ in Thousands	3 Months Ended				12 Months Ended
	Dec. 31, 2020USD ($)	Dec. 31, 2020floater	Dec. 31, 2020jackup	Mar. 31, 2020USD ($)floater	Dec. 31, 2020USD ($)floater	Dec. 31, 2019USD ($)floater	Dec. 31, 2018USD ($)	Dec. 31, 2018floater	Dec. 31, 2018jackup
Property, Plant and Equipment [Line Items]
Loss on impairment					$ 3,915,408	$ 615,294	$ 802,133
Number of impairment oil and gas properties		3	9	4	7	2		3	2
Nobel Series
Property, Plant and Equipment [Line Items]
Loss on impairment	$ 2,800,000			$ 1,100,000	$ 3,900,000
Capital spare equipment
Property, Plant and Equipment [Line Items]
Loss on impairment					$ 24,000
Noble Bully II, Noble Paul Romano, and certain capital spare equipment
Property, Plant and Equipment [Line Items]
Loss on impairment						$ 615,300
Noble Bully II
Property, Plant and Equipment [Line Items]
Loss on impairment						595,500
Noble Bully II, attributable to joint venture partner
Property, Plant and Equipment [Line Items]
Loss on impairment						$ 265,000
Noble Bully I
Property, Plant and Equipment [Line Items]
Loss on impairment							550,300
Noble Bully I, attributable to joint venture partner
Property, Plant and Equipment [Line Items]
Loss on impairment							$ 250,300

Debt - Additional Information (

Debt - Additional Information (Details) - USD ($)

Feb. 05, 2021

Jul. 20, 2020

Apr. 20, 2020

Apr. 30, 2020

Mar. 31, 2019

Feb. 28, 2019

Sep. 30, 2018

Dec. 31, 2020

Dec. 31, 2019

Dec. 31, 2018

Jul. 31, 2019

Jan. 31, 2018

Dec. 21, 2017

Debt Instrument [Line Items]

Borrowings on credit facilities

$ 210,000,000

$ 755,000,000

$ 0

Repayments of debt

101,132,000

400,000,000

972,708,000

Gain (loss) on extinguishment of debt, net

17,254,000

30,616,000

(1,793,000)

Subsequent Event | Participants in the Rights Offering | Ordinary Shares Of Noble (New Shares)

Debt Instrument [Line Items]

Plan of reorganization, shares issued, subscription price

$ 200,000,000

Rig, the Noble Joe Knight

Debt Instrument [Line Items]

Purchase price of asset acquired

$ 83,800,000

Rig, the Noble Johnny Whitstine

Debt Instrument [Line Items]

Purchase price of asset acquired

$ 93,800,000

Unsecured Revolving Credit Facility

Debt Instrument [Line Items]

Maximum borrowing capacity under credit facilities

$ 300,000,000

2015 Credit Facility | Revolving Credit Facility

Debt Instrument [Line Items]

Extinguishment of debt

300,000,000

Second Lien Notes Indenture | Subsequent Event | Participants in the Rights Offering | Ordinary Shares Of Noble (New Shares)

Debt Instrument [Line Items]

Plan of reorganization, shares issued, subscription price

$ 200,000,000

Second Lien Notes Indenture | Subsequent Event | Interest Payable in Cash

Debt Instrument [Line Items]

Debtor-in-possession financing, Interest rate on borrowings

11.00%

Second Lien Notes Indenture | Subsequent Event | Interest Payable 50% in Cash and 50% by issuing PIK Notes

Debt Instrument [Line Items]

Debtor-in-possession financing, Interest rate on borrowings

13.00%

Second Lien Notes Indenture | Subsequent Event | Interest Payable by Issuing PIK Notes

Debt Instrument [Line Items]

Debtor-in-possession financing, Interest rate on borrowings

15.00%

Line of Credit | Letters Of Credit and Surety Bonds

Debt Instrument [Line Items]

Outstanding borrowings

6,000,000

Line of Credit | 2017 Credit Facility

Debt Instrument [Line Items]

Maximum borrowing capacity under credit facilities

$ 1,300,000,000

$ 1,500,000,000

Loss on extinguishment of debt

$ 700,000

Borrowings on credit facilities

$ 100,000,000

Outstanding borrowings

545,000,000

Line of Credit | 2017 Credit Facility | Letter of Credit

Debt Instrument [Line Items]

Available to borrowing capacity under credit facilities

15,000,000

Outstanding borrowings

8,800,000

Line of Credit | 2017 Credit Facility | Revolving Credit Facility

Debt Instrument [Line Items]

Amount credit facility can be increased

500,000,000

Line of Credit | 2015 Credit Facility

Debt Instrument [Line Items]

Loss on extinguishment of debt

$ 2,300,000

Line of Credit | Exit Credit Agreement | Letter of Credit | Subsequent Event

Debt Instrument [Line Items]

Debtor-in-possession financing, amount arranged

$ 67,500,000

Line of Credit | Exit Credit Agreement | Revolving Credit Facility | Subsequent Event

Debt Instrument [Line Items]

Debtor-in-possession financing, amount arranged

675,000,000

Debtor-in-possession financing, borrowings outstanding

$ 177,500,000

Debtor-in-possession financing, increase of basis spread on variable rate

0.50%

Debtor-in-possession financing, basis spread on variable rate, additional increase under conditions

0.50%

Debtor-in-possession, commitment fee on unused borrowings

0.50%

Debt restrictive covenants, maximum available cash after borrowings

$ 100,000,000

Debt covenant, consolidated leverage ratio (maximum)

5.50

Debt restrictive covenants, outstanding borrowing

$ 610,000,000

Debt restrictive covenants, asset coverage ratio

2

Debt mandatory prepayments term, available cash benchmark

$ 150,000,000

Debt financial maintenance covenant, ratio of asset coverage aggregate rig value to aggregate principal amount of loans and letters of credit outstanding

2

Line of Credit | Exit Credit Agreement | Revolving Credit Facility | Subsequent Event | Four fiscal quarter period ending March 31, 2021

Debt Instrument [Line Items]

Minimum liquidity

$ 70,000,000

Line of Credit | Exit Credit Agreement | Revolving Credit Facility | Subsequent Event | Four fiscal quarter period ending June 30, 2021

Debt Instrument [Line Items]

Minimum liquidity

40,000,000

Line of Credit | Exit Credit Agreement | Revolving Credit Facility | Subsequent Event | Four fiscal quarter periods ending on each of September 30, 2021 and December 31, 2021

Debt Instrument [Line Items]

Minimum liquidity

$ 25,000,000

Line of Credit | Exit Credit Agreement | Revolving Credit Facility | Subsequent Event | Each four fiscal quarter period ending on or after March 31, 2022 until June 30, 2024

Debt Instrument [Line Items]

Debt financial maintenance covenant, ratio of adjusted EBITDA to cash interest expense

2

Line of Credit | Exit Credit Agreement | Revolving Credit Facility | Subsequent Event | Each four fiscal quarter period ending thereafter

Debt Instrument [Line Items]

Debt financial maintenance covenant, ratio of adjusted EBITDA to cash interest expense

2.25

Line of Credit | Exit Credit Agreement | Revolving Credit Facility | Subsequent Event | LIBOR

Debt Instrument [Line Items]

Debtor-in-possession financing, increase of basis spread on variable rate

1.00%

Line of Credit | Exit Credit Agreement | Revolving Credit Facility | Subsequent Event | Fed Funds Effective Rate

Debt Instrument [Line Items]

Debtor-in-possession financing, increase of basis spread on variable rate

0.50%

Line of Credit | Exit Credit Agreement | Revolving Credit Facility | LIBOR | Subsequent Event

Debt Instrument [Line Items]

Debtor-in-possession financing, increase of basis spread on variable rate

4.75%

Line of Credit | Exit Credit Agreement | Revolving Credit Facility | Base Rate | Subsequent Event

Debt Instrument [Line Items]

Debtor-in-possession financing, basis spread on variable rate

3.75%

Secured Debt | 2019 Seller Loan

Debt Instrument [Line Items]

Financed value

$ 53,600,000

Senior unsecured revolving credit facility maturity period

4 years

Principal payment due at the end of the third year, percentage

5.00%

Principal payment due at the end of the term, percentage

95.00%

Interest rate, paid in cash

4.25%

Paid-in-kind interest rate

1.25%

Paid in cash and paid-in-kind interest rate

8.91%

Repayments of debt

$ 48,100,000

Secured Debt | 2018 Seller Loan

Debt Instrument [Line Items]

Financed value

$ 60,000,000

Senior unsecured revolving credit facility maturity period

4 years

Principal payment due at the end of the third year, percentage

5.00%

Principal payment due at the end of the term, percentage

95.00%

Interest rate, paid in cash

4.25%

Paid-in-kind interest rate

1.25%

Paid in cash and paid-in-kind interest rate

8.91%

Repayments of debt

$ 53,600,000

Period following payment date for debt termination

90 days

Secured Debt | Seller Loans

Debt Instrument [Line Items]

Principal payment due at the end of the term, percentage

85.00%

Debt to total capitalization ratio requirement

0.55

Minimum liquidity

$ 300,000,000

Gain (loss) on extinguishment of debt, net

$ 17,300,000

Secured Debt | Second Lien Notes Indenture | Subsequent Event

Debt Instrument [Line Items]

Debtor-in-possession financing, amount arranged

$ 216,000,000

Debtor-in-possession financing, backstop fee

$ 16,000,000

Debt redemption rice, percentage of principal amount redeemed

106.00%

Debt redemption, change of control period

120 days

Senior Notes

Debt Instrument [Line Items]

Gain (loss) on extinguishment of debt, net

$ 31,300,000

Aggregate principal amount of senior notes repurchased

440,900,000

Debt repurchase amount

$ 400,000,000

Letter of Credit | Exit Credit Agreement | Revolving Credit Facility | Subsequent Event

Debt Instrument [Line Items]

Debtor-in-possession financing, letters of credit outstanding

$ 8,800,000

Debt - Estimated Fair Value of

Debt - Estimated Fair Value of Our Long-Term Debt, not Including Effect of Unamortized Debt Issuance Costs (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Jul. 20, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Less: Current maturities of long-term debt	$ 0		$ 62,505,000
Long-term debt	0		3,779,499,000
Write-off of debt financing costs and discount	45,469,000
Carrying Value
Debt Instrument [Line Items]
Total debt	3,977,926,000		3,842,004,000
Less: Current maturities of long-term debt	0		62,505,000
Long-term debt	0		3,779,499,000
Estimated Fair Value
Debt Instrument [Line Items]
Total debt	898,938,000		2,158,847,000
Less: Current maturities of long-term debt	0		60,660,000
Long-term debt	0		2,098,187,000
Senior Notes
Debt Instrument [Line Items]
Total debt	$ 3,400,000,000
Senior Notes | 4.900% Senior Notes due August 2020
Debt Instrument [Line Items]
Interest rate on senior notes	4.90%
Senior Notes | 4.900% Senior Notes due August 2020 | Carrying Value
Debt Instrument [Line Items]
Total debt	$ 62,535,000		62,505,000
Senior Notes | 4.900% Senior Notes due August 2020 | Estimated Fair Value
Debt Instrument [Line Items]
Total debt	$ 1,366,000		60,660,000
Senior Notes | 4.625% Senior Notes due March 2021
Debt Instrument [Line Items]
Interest rate on senior notes	4.625%
Senior Notes | 4.625% Senior Notes due March 2021 | Carrying Value
Debt Instrument [Line Items]
Total debt	$ 79,936,000		79,854,000
Senior Notes | 4.625% Senior Notes due March 2021 | Estimated Fair Value
Debt Instrument [Line Items]
Total debt	$ 1,596,000		64,262,000
Senior Notes | 3.950% Senior Notes due March 2022
Debt Instrument [Line Items]
Interest rate on senior notes	3.95%
Senior Notes | 3.950% Senior Notes due March 2022 | Carrying Value
Debt Instrument [Line Items]
Total debt	$ 21,213,000		21,181,000
Senior Notes | 3.950% Senior Notes due March 2022 | Estimated Fair Value
Debt Instrument [Line Items]
Total debt	$ 354,000		12,170,000
Senior Notes | 7.750% Senior Notes due January 2024
Debt Instrument [Line Items]
Interest rate on senior notes	7.75%
Senior Notes | 7.750% Senior Notes due January 2024 | Carrying Value
Debt Instrument [Line Items]
Total debt	$ 397,025,000		389,800,000
Senior Notes | 7.750% Senior Notes due January 2024 | Estimated Fair Value
Debt Instrument [Line Items]
Total debt	$ 7,925,000		211,035,000
Senior Notes | 7.950% Senior Notes due April 2025
Debt Instrument [Line Items]
Interest rate on senior notes	7.95%
Senior Notes | 7.950% Senior Notes due April 2025 | Carrying Value
Debt Instrument [Line Items]
Total debt	$ 450,000,000		446,962,000
Senior Notes | 7.950% Senior Notes due April 2025 | Estimated Fair Value
Debt Instrument [Line Items]
Total debt	$ 8,348,000		228,515,000
Senior Notes | 7.875% Senior Notes due February 2026
Debt Instrument [Line Items]
Interest rate on senior notes	7.875%
Senior Notes | 7.875% Senior Notes due February 2026 | Carrying Value
Debt Instrument [Line Items]
Total debt	$ 750,000,000		739,371,000
Senior Notes | 7.875% Senior Notes due February 2026 | Estimated Fair Value
Debt Instrument [Line Items]
Total debt	$ 301,935,000		546,353,000
Senior Notes | 6.200% Senior Notes due August 2040
Debt Instrument [Line Items]
Interest rate on senior notes	6.20%
Senior Notes | 6.200% Senior Notes due August 2040 | Carrying Value
Debt Instrument [Line Items]
Total debt	$ 393,596,000		390,526,000
Senior Notes | 6.200% Senior Notes due August 2040 | Estimated Fair Value
Debt Instrument [Line Items]
Total debt	$ 7,966,000		149,134,000
Senior Notes | 6.050% Senior Notes due March 2041
Debt Instrument [Line Items]
Interest rate on senior notes	6.05%
Senior Notes | 6.050% Senior Notes due March 2041 | Carrying Value
Debt Instrument [Line Items]
Total debt	$ 395,002,000		389,809,000
Senior Notes | 6.050% Senior Notes due March 2041 | Estimated Fair Value
Debt Instrument [Line Items]
Total debt	$ 7,327,000		142,646,000
Senior Notes | 5.250% Senior Notes due March 2042
Debt Instrument [Line Items]
Interest rate on senior notes	5.25%
Senior Notes | 5.250% Senior Notes due March 2042 | Carrying Value
Debt Instrument [Line Items]
Total debt	$ 483,619,000		478,122,000
Senior Notes | 5.250% Senior Notes due March 2042 | Estimated Fair Value
Debt Instrument [Line Items]
Total debt	$ 9,701,000		176,265,000
Senior Notes | 8.950% Senior Notes due April 2045
Debt Instrument [Line Items]
Interest rate on senior notes	8.95%
Senior Notes | 8.950% Senior Notes due April 2045 | Carrying Value
Debt Instrument [Line Items]
Total debt	$ 400,000,000		390,763,000
Senior Notes | 8.950% Senior Notes due April 2045 | Estimated Fair Value
Debt Instrument [Line Items]
Total debt	7,420,000		164,664,000
Seller loans: | Seller-financed secured loan due September 2022
Debt Instrument [Line Items]
Total debt		$ 0
Seller loans: | Seller-financed secured loan due September 2022 | Carrying Value
Debt Instrument [Line Items]
Total debt	0		62,453,000
Seller loans: | Seller-financed secured loan due September 2022 | Estimated Fair Value
Debt Instrument [Line Items]
Total debt	0		36,968,000
Seller loans: | Seller-financed secured loan due February 2023 | Carrying Value
Debt Instrument [Line Items]
Total debt	0		55,658,000
Seller loans: | Seller-financed secured loan due February 2023 | Estimated Fair Value
Debt Instrument [Line Items]
Total debt	0		31,175,000
Revolving Credit Facility | Line of Credit | 2017 Credit Facility | Carrying Value
Debt Instrument [Line Items]
Total debt	545,000,000		335,000,000
Revolving Credit Facility | Line of Credit | 2017 Credit Facility | Estimated Fair Value
Debt Instrument [Line Items]
Total debt	$ 545,000,000		$ 335,000,000

Equity - Narrative (Details)

Equity - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Feb. 05, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares outstanding and trading (in shares)	251,084,000	249,200,000
Additional conditionally authorized shares without additional shareholder approval (in shares)	8,700,000
Common stock, par value (usd per share)	$ 0.01	$ 0.01
Common stock	$ 2,511,000	$ 2,492,000
Repurchases of shares (in shares)	0	0	0
Non-vest stock options (in shares)	0
Stock options granted (in shares)	0	0	0
Subsequent Event
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock				$ 6,000
Subsequent Event | Class of Stock, To Be Determined One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares outstanding and trading (in shares)				500,000,000
Common stock, par value (usd per share)				$ 0.00001
Subsequent Event | Class of Stock, To Be Determined Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares outstanding and trading (in shares)				100,000,000
Common stock, par value (usd per share)				$ 0.00001
2015 Omnibus Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Additional shares authorized under plan (in shares)	8,700,000	5,800,000	5,000,000
Total number of shares issuable under stock option plan (in shares)	40,000,000
Remaining number of shares available for grants (in shares)	25,000,000
Director Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Additional shares authorized under plan (in shares)		900,000
Total number of shares issuable under stock option plan (in shares)		1,800,000
Remaining number of shares available for grants (in shares)		1,000,000
Stock option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock option exercisable term	10 years
Compensation cost recognized	$ 0	$ 0	$ 0
Award vesting period	3 years
TVRSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	3 years	3 years	3 years
Total unrecognized compensation cost	$ 3,500,000
Period for recognizing unrecognized compensation cost	10 months 24 days
Incremental fair value awarded as a result of the issuance of awards	$ 12,400,000
PVRSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award performance period	3 years
Period for recognizing unrecognized compensation cost	6 months
Total unrecognized compensation cost	$ 1,700,000
Expected volatility	69.80%	59.60%	61.80%
Risk-free interest rate	1.40%	2.50%	2.31%
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation cost recognized	$ 9,200,000	$ 14,700,000	$ 24,000,000
Compensation cost recognized net of tax	8,600,000	14,100,000	21,900,000
Capitalized compensation costs	$ 0	$ 0	$ 0
Liability-Classified Cash Incentive Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	3 years
Award performance period	3 years
Expected volatility	69.80%
Risk-free interest rate	1.40%
Non-employee directors
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrestricted shares awarded (in shares)	0	280,635	267,204

Equity - Summary of Stock Optio

Equity - Summary of Stock Options Granted (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Number of Shares Underlying Options
Outstanding at beginning of year (in shares)	708,400	1,103,242	1,313,155
Expired (in shares)	(152,245)	(394,842)	(209,913)
Outstanding at end of year (in shares)	556,155	708,400	1,103,242
Exercisable at end of year (in shares)	556,155	708,400	1,103,242
Weighted Average Exercise Price
Outstanding at beginning of year (usd per share)	$ 30.90	$ 28.74	$ 29.51
Expired (usd per share)	32.78	24.85	33.56
Outstanding at end of year (usd per share)	30.39	30.90	28.74
Exercisable at end of year (usd per share)	$ 30.39	$ 30.90	$ 28.74
Aggregate intrinsic value of options outstanding and exercisable	$ 0

Equity - Additional Information

Equity - Additional Information About Stock Options Outstanding (Details)	12 Months Ended
	Dec. 31, 2020$ / sharesshares
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number of Shares Underlying Options | shares	556,155
Weighted Average Remaining Life (Years)	8 months 4 days
Weighted Average Exercise Price	$ 30.39
$20.49 to $25.41
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise price range, lower range limit (in usd per share)	20.49
Exercise price range, upper range limit (in usd per share)	$ 25.41
Number of Shares Underlying Options | shares	53,934
Weighted Average Remaining Life (Years)	1 year 7 days
Weighted Average Exercise Price	$ 25.41
$25.42 to $30.59
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise price range, lower range limit (in usd per share)	25.42
Exercise price range, upper range limit (in usd per share)	$ 30.59
Number of Shares Underlying Options | shares	277,177
Weighted Average Remaining Life (Years)	1 year 1 month 2 days
Weighted Average Exercise Price	$ 30.59
$30.60 to $32.78
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise price range, lower range limit (in usd per share)	30.60
Exercise price range, upper range limit (in usd per share)	$ 32.78
Number of Shares Underlying Options | shares	225,044
Weighted Average Remaining Life (Years)	1 month 6 days
Weighted Average Exercise Price	$ 31.33

Equity - Assumptions used to Va

Equity - Assumptions used to Value the Performance-Vested Restricted Stock Units (Details) - PVRSUs	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Valuation assumptions:
Expected volatility	69.80%	59.60%	61.80%
Risk-free interest rate	1.40%	2.50%	2.31%

Equity - Summary of Restricted

Equity - Summary of Restricted Share Awards (Details) - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
TVRSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Units awarded (in shares)	5,559,678	4,639,119	3,578,212
Weighted-average share price at award date (usd per share)	$ 0.82	$ 3.02	$ 4.71
Weighted-average vesting period (years)	3 years	3 years	3 years
Weighted-average award-date fair value (usd per share)	$ 0.82
PVRSU
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Units awarded (in shares)	2,696,774	1,623,399	2,733,906
Weighted-average share price at award date (usd per share)	$ 0.91	$ 3.13	$ 4.55
Weighted-average award-date fair value (usd per share)	$ 1.14	$ 3.61	$ 2.96

Equity - Summary of Status of N

Equity - Summary of Status of Non-Vested Restricted Stock Units (Details) - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
PVRSUs
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Non-vested Liability-Classified Award, beginning balance (in shares)	4,854,352
Awarded (in shares)	2,696,774
Vested (in shares)	(1,063,242)
Forfeited (in shares)	(3,324,771)
Non-vested Liability-Classified Award (in shares)	3,163,113	4,854,352
Weighted Average Award-Date Fair Value
Non-vested Liability-Classified Award, beginning balance (in shares)	$ 3.56
Awarded (usd per share)	1.14
Vested (usd per share)	4.37
Forfeited (usd per share)	1.67
Non-vested Liability-Classified Award, ending balance (usd per share)	$ 3.22	$ 3.56
Minimum number of performance vested shares	0
Target level of performance, percent	50.00%
Maximum level of performance, percent	200.00%
TVRSUs
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Non-vested Liability-Classified Award, beginning balance (in shares)	6,329,029
Awarded (in shares)	5,559,678	4,639,119	3,578,212
Vested (in shares)	(2,924,900)
Forfeited (in shares)	(6,601,307)
Non-vested Liability-Classified Award (in shares)	2,362,500	6,329,029
Weighted Average Award-Date Fair Value
Non-vested Liability-Classified Award, beginning balance (in shares)	$ 3.89
Awarded (usd per share)	0.82
Vested (usd per share)	4.24
Forfeited (usd per share)	1.19
Non-vested Liability-Classified Award, ending balance (usd per share)	$ 3.43	$ 3.89

Equity - Summary of Non-vested

Equity - Summary of Non-vested Liability-Classified Award (Details) - Liability-Classified Cash Incentive Awards	12 Months Ended
	Dec. 31, 2020$ / sharesshares
Number of Awards
Non-vested Liability-Classified Award, beginning balance (in shares)	0
Units awarded (in shares)	3,619,000
Vested (in shares)	(2,401,362)
Forfeited (in shares)	(1,217,638)
Non-vested Liability-Classified Award (in shares)	0
Weighted Average Award-Date Fair Value
Non-vested Liability-Classified Award, beginning balance (in shares) | $ / shares	$ 0
Awarded (usd per share) | $ / shares	0.77
Vested (usd per share) | $ / shares	0.77
Forfeited (usd per share) | $ / shares	0.77
Non-vested Liability-Classified Award, ending balance (usd per share) | $ / shares	$ 0
Vested (in shares)	91,362

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	$ 3,658,972	$ 4,654,574	$ 5,950,628
Other comprehensive loss before reclassifications	(521)	260
Amounts reclassified from AOCI	898	(1,577)
Other comprehensive income (loss), net	377	(1,317)	(8,644)
Ending balance	(311,388)	3,658,972	4,654,574
Defined Benefit Pension Items
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(40,635)	(39,058)
Other comprehensive loss before reclassifications	0	0
Amounts reclassified from AOCI	898	(1,577)
Other comprehensive income (loss), net	898	(1,577)
Ending balance	(39,737)	(40,635)	(39,058)
Foreign Currency Items
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(17,754)	(18,014)
Other comprehensive loss before reclassifications	(521)	260
Amounts reclassified from AOCI	0	0
Other comprehensive income (loss), net	(521)	260
Ending balance	(18,275)	(17,754)	(18,014)
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(58,389)	(57,072)	(42,888)
Other comprehensive income (loss), net	377	(1,317)	(8,644)
Ending balance	$ (58,012)	$ (58,389)	$ (57,072)

Revenue and Customers - Additio

Revenue and Customers - Additional Information (Details)	12 Months Ended
	Dec. 31, 2020
Revenue from Contract with Customer [Abstract]
Payment term	30 days

Revenue and Customers - Receiva

Revenue and Customers - Receivables, Contract Assets, and Contract Liabilities with Customers (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Revenue from Contract with Customer [Abstract]
Current contract assets	$ 10,687	$ 21,292
Noncurrent contract assets	3,174	9,508
Total contract assets	13,861	30,800	$ 47,664
Current contract liabilities (deferred revenue)	(34,990)	(34,196)
Noncurrent contract liabilities (deferred revenue)	(24,896)	(30,859)
Total contract liabilities	$ (59,886)	$ (65,055)	$ (80,753)

Revenue and Customers - Signifi

Revenue and Customers - Significant Changes in Contract Assets and Contract Liabilities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Change In Contract With Customer, Asset And Liability [Roll Forward]
Contract assets, beginning balance	$ 30,800	$ 47,664
Contract liabilities, beginning balance	(65,055)	(80,753)
Amortization of deferred costs	(27,043)	(39,936)
Additions to deferred costs	10,104	23,072
Amortization of deferred revenue	(57,915)	(65,312)
Additions to deferred revenue	(52,746)	(49,614)
Total	(16,939)	(16,864)
Total	5,169	15,698
Contract assets, ending balance	13,861	30,800
Contract liabilities, ending balance	$ (59,886)	$ (65,055)

Revenue and Customers - Remaini

Revenue and Customers - Remaining Performance Obligations (Details) $ in Thousands	Dec. 31, 2020USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Unsatisfied performance obligations	$ 59,886
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Unsatisfied performance obligations	$ 34,544
Performance obligation, expected timing of satisfaction	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Unsatisfied performance obligations	$ 15,228
Performance obligation, expected timing of satisfaction	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Unsatisfied performance obligations	$ 9,199
Performance obligation, expected timing of satisfaction	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Unsatisfied performance obligations	$ 915
Performance obligation, expected timing of satisfaction	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Unsatisfied performance obligations	$ 0
Performance obligation, expected timing of satisfaction
Floaters
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Unsatisfied performance obligations	$ 50,606
Floaters | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Unsatisfied performance obligations	$ 27,005
Performance obligation, expected timing of satisfaction	1 year
Floaters | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Unsatisfied performance obligations	$ 13,487
Performance obligation, expected timing of satisfaction	1 year
Floaters | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Unsatisfied performance obligations	$ 9,199
Performance obligation, expected timing of satisfaction	1 year
Floaters | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Unsatisfied performance obligations	$ 915
Performance obligation, expected timing of satisfaction	1 year
Floaters | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Unsatisfied performance obligations	$ 0
Performance obligation, expected timing of satisfaction
Jackups
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Unsatisfied performance obligations	$ 9,280
Jackups | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Unsatisfied performance obligations	$ 7,539
Performance obligation, expected timing of satisfaction	1 year
Jackups | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Unsatisfied performance obligations	$ 1,741
Performance obligation, expected timing of satisfaction	1 year
Jackups | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Unsatisfied performance obligations	$ 0
Performance obligation, expected timing of satisfaction	1 year
Jackups | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Unsatisfied performance obligations	$ 0
Performance obligation, expected timing of satisfaction	1 year
Jackups | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Unsatisfied performance obligations	$ 0
Performance obligation, expected timing of satisfaction

Revenue and Customers - Disaggr

Revenue and Customers - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disaggregation of Revenue [Line Items]
Operating revenues	$ 203,207	$ 241,836	$ 237,918	$ 281,311	$ 454,088	$ 275,526	$ 292,936	$ 282,888	$ 964,272	$ 1,305,438	$ 1,082,826
Contract drilling services
Disaggregation of Revenue [Line Items]
Operating revenues									909,236	1,246,058	$ 1,036,082
Floaters
Disaggregation of Revenue [Line Items]
Operating revenues									491,407	727,177
Jackups
Disaggregation of Revenue [Line Items]
Operating revenues									$ 417,829	518,881
Drillships, Exclusive of contract termination
Disaggregation of Revenue [Line Items]
Operating revenues										560,319
Contract Drilling Services, Exclusive of contract termination
Disaggregation of Revenue [Line Items]
Operating revenues										$ 1,079,200

Leases - Narrative (Details)

Leases - Narrative (Details) - Subsequent Event $ in Millions	Jan. 31, 2021USD ($)
Lessee, Lease, Description [Line Items]
Decrease of Right of Use Asset	$ 11.3
Decrease of Lease Liability	$ 11.9

Leases - Supplemental Balance S

Leases - Supplemental Balance Sheet Information (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Operating lease right-of-use assets	$ 26,648	$ 33,480
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	us-gaap:OtherLiabilitiesCurrent	us-gaap:OtherLiabilitiesCurrent
Current operating lease liabilities	$ 1,942	$ 6,591
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	us-gaap:OtherLiabilitiesNoncurrent	us-gaap:OtherLiabilitiesNoncurrent
Long-term operating lease liabilities	$ 4,969	$ 26,778
Weighted average remaining lease term for operating leases (years)	7 years 9 months 18 days	7 years 8 months 12 days
Weighted average discounted rate for operating leases	11.10%	9.70%

Leases - Components of Lease Co

Leases - Components of Lease Cost (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Operating lease cost	$ 9,065	$ 8,878
Short-term lease cost	2,893	7,012
Variable lease cost	1,265	1,620
Total lease cost	$ 13,223	$ 17,510

Leases - Supplemental Cash Flow

Leases - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Operating cash flows from operating leases	$ 9,614	$ 8,812

Leases - Maturities of Lease Li

Leases - Maturities of Lease Liabilities (Details) $ in Thousands	Dec. 31, 2020USD ($)
Leases [Abstract]
2021	$ 8,594
2022	5,545
2023	3,567
2024	3,629
2025	3,687
Thereafter	17,018
Total lease payments	42,040
Less: Interest	(14,343)
Present value of lease liability	27,697
Liabilities subject to compromise, lease liabilities	$ 20,969

Income Taxes - Components of Ne

Income Taxes - Components of Net Deferred Taxes (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Deferred tax assets
Deferred tax assets	$ 222,125	$ 280,117
Less: valuation allowance	(191,835)	(8,084)
Net deferred tax assets	30,290	272,033
Deferred tax liabilities
Deferred tax liabilities	(38,891)	(307,678)
Net deferred tax liabilities	(8,601)	(35,645)
United States
Deferred tax assets
Net operating loss carry forwards	79,047	129,695
Disallowed interest deduction carryforwards	62,337	92,030
Deferred pension plan amounts	10,568	10,447
Accrued expenses not currently deductible	5,625	8,434
Other	3,178	2,356
Less: valuation allowance	(183,800)
Deferred tax liabilities
Excess of net book basis over remaining tax basis	(30,349)	(299,136)
Other	(1,796)	(2,420)
Non-United States
Deferred tax assets
Net operating loss carry forwards	47,187	22,426
Disallowed interest deduction carryforwards	13,625	13,942
Deferred pension plan amounts	558	787
Deferred tax liabilities
Excess of net book basis over remaining tax basis	(5,474)	(4,780)
Other	$ (1,272)	$ (1,342)

Income Taxes - Income (Loss) fr

Income Taxes - Income (Loss) from Continuing Operations Before Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
United States	$ (2,150,591)	$ (65,062)	$ (136,083)
Non-United States	(2,088,271)	(844,022)	(1,101,093)
Total	$ (4,238,862)	$ (909,084)	$ (1,237,176)

Income Taxes - Income Tax Provi

Income Taxes - Income Tax Provision for Continuing Operations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Current- United States	$ (257,552)	$ (34,726)	$ (56,574)
Current- Non-United States	23,474	14,011	18,348
Deferred- United States	(57,514)	(5,307)	(67,371)
Deferred- Non-United States	31,189	(12,518)	(1,044)
Total	$ (260,403)	$ (38,540)	$ (106,641)

Income Taxes - Reconciliation o

Income Taxes - Reconciliation of Reserve for Uncertain Tax Positions, Excluding Interest and Penalties (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Gross balance at January 1,	$ 130,837	$ 161,256	$ 174,437
Additions based on tax positions related to current year	20,266	934	97
Additions for tax positions of prior years	206	224	25
Reductions for tax positions of prior years	(109,330)	(28,542)	(12,806)
Expiration of statutes	(4,258)	(1,629)	(497)
Tax settlements	0	(1,406)	0
Gross balance at December 31,	37,721	130,837	161,256
Related tax benefits	(384)	(400)	(1,008)
Net reserve at December 31,	$ 37,337	$ 130,437	$ 160,248

Income Taxes - Summary of Liabi

Income Taxes - Summary of Liabilities Related to Reserve for Uncertain Tax Positions (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Reserve for uncertain tax positions, excluding interest and penalties	$ 37,337	$ 130,437	$ 160,248
Interest and penalties included in “Other liabilities”	5,164	29,232
Reserve for uncertain tax positions, including interest and penalties	$ 42,501	$ 159,669

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ in Thousands	Mar. 27, 2020	Dec. 31, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Reserves for uncertain tax positions		$ 42,501	$ 42,501	$ 159,669
Related tax benefits		384	384	400	$ 1,008
Amount provision for income taxes reduced if reserves not realized		42,500	42,500
Potential changes of existing liabilities related to reserve for uncertain tax positions (up to)		14,000	14,000
Income tax benefit from CARES Act	$ 39,000
Current income taxes receivable, CARES Act	151,400
Noncash deferred tax expense related to NOL utilization, CARES Act	$ 112,400
Proceeds from income tax receivable		134,000
Proceeds from income tax receivable, related interest, CARES Act		4,400
Interest and penalties resulted in an income tax expense			24,100	3,000	$ 5,100
Gross tax benefit related to impairment of rigs and certain spares			192,400
Gross tax benefit related to impairment of rigs and certain spares, change in valuation allowance			92,700
Tax benefit related to settlement of uncertain tax positions			111,900
Tax benefit related to internal restructuring, net of valuation allowance adjustment			17,900
Tax expenses related to a return-to-provision adjustment and valuation allowance adjustment			21,200
Valuation allowance		191,835	191,835	$ 8,084
Foreign Tax Authority
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Tax expense related to a change in valuation allowance			7,800
Foreign Tax Authority | UK Tax Authority
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Tax expense related to a change in valuation allowance			31,100
United States
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Valuation allowance		$ 183,800	$ 183,800

Income Taxes - Effective Tax Re

Income Taxes - Effective Tax Reconciliation (Details) - Foreign Tax Authority	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Contingency [Line Items]
Tax rates which are different than the UK and Cayman Island rates	0.40%	4.30%	5.00%
Tax impact of asset impairment and disposition	4.50%	0.30%	2.90%
Tax impact of restructuring	2.10%	(4.10%)	0.00%
Tax impact of the tax regulation change	0.90%	0.00%	2.10%
Tax impact of valuation allowance	(4.30%)	0.50%	(1.00%)
Resolution of (reserve for) tax authority audits	2.50%	3.20%	(0.40%)
Total	6.10%	4.20%	8.60%

Employee Benefit Plans - Reconc

Employee Benefit Plans - Reconciliation of Changes in Projected Benefit Obligations for our Non - U.S. and U.S. Plans (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Non-US
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Benefit obligation at beginning of year	$ 62,485	$ 54,898
Service cost	0	0	$ 0
Interest cost	1,877	1,814	1,747
Actuarial loss (gain)	7,190	6,649
Plan amendments	104	0
Benefits paid	(2,261)	(2,821)
Settlements and curtailments	(3,751)	0
Foreign exchange rate changes	2,299	1,945
Benefit obligation at end of year	67,943	62,485	54,898
US plans
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Benefit obligation at beginning of year	240,249	210,944
Service cost	0	0	0
Interest cost	7,567	8,711	8,179
Actuarial loss (gain)	28,266	29,078
Plan amendments	0	0
Benefits paid	(8,024)	(7,201)
Settlements and curtailments	(1,968)	(1,283)
Foreign exchange rate changes	0	0
Benefit obligation at end of year	$ 266,090	$ 240,249	$ 210,944

Employee Benefit Plans - Reco_2

Employee Benefit Plans - Reconciliation of Changes in Fair Value of Plan Assets (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	$ 194,160,000
Fair value of plan assets at end of year	222,417,000	$ 194,160,000
Non-US
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	76,429,000	68,597,000
Actual return on plan assets	8,741,000	8,282,000
Employer contributions	0	0	$ 0
Benefits paid	(2,261,000)	(2,821,000)
Settlement and curtailment	(3,751,000)	0
Foreign exchange rate changes	4,650,000	2,371,000
Fair value of plan assets at end of year	83,808,000	76,429,000	68,597,000
US plans
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	194,160,000	165,730,000
Actual return on plan assets	36,247,000	35,597,000
Employer contributions	2,002,000	1,317,000	4,600,000
Benefits paid	(8,024,000)	(7,201,000)
Settlement and curtailment	(1,968,000)	(1,283,000)
Foreign exchange rate changes	0	0
Fair value of plan assets at end of year	$ 222,417,000	$ 194,160,000	$ 165,730,000

Employee Benefit Plans - Funded

Employee Benefit Plans - Funded Status of Plans (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Non-US
Defined Benefit Plan Disclosure [Line Items]
Funded status	$ 15,865	$ 13,944
US plans
Defined Benefit Plan Disclosure [Line Items]
Funded status	$ (43,673)	$ (46,089)

Employee Benefit Plans - Amount

Employee Benefit Plans - Amounts Recognized in Consolidated Balance Sheets (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Non-US
Defined Benefit Plan Disclosure [Line Items]
Other assets (noncurrent)	$ 15,865	$ 13,944
Other liabilities (current)	0	0
Other liabilities (noncurrent)	0	0
Net amount recognized	15,865	13,944
US plans
Defined Benefit Plan Disclosure [Line Items]
Other assets (noncurrent)	0	0
Other liabilities (current)	(8,169)	(2,535)
Other liabilities (noncurrent)	(35,504)	(43,554)
Net amount recognized	$ (43,673)	$ (46,089)

Employee Benefit Plans - Amou_2

Employee Benefit Plans - Amounts Recognized in Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Non-US
Defined Benefit Plan Disclosure [Line Items]
Net actuarial loss	$ 3,108	$ 4,758
Prior service cost	0	0
Deferred income tax asset	(558)	(787)
Accumulated other comprehensive loss	2,550	3,971
US plans
Defined Benefit Plan Disclosure [Line Items]
Net actuarial loss	47,094	46,420
Prior service cost	0	0
Deferred income tax asset	(9,890)	(9,748)
Accumulated other comprehensive loss	$ 37,204	$ 36,672

Employee Benefit Plans - Pensio

Employee Benefit Plans - Pension Costs (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Non-US
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 0	$ 0	$ 0
Interest cost	1,877	1,814	1,747
Return on plan assets	(1,649)	(2,471)	(2,762)
Amortization of prior service cost	10	10	0
Recognized net actuarial loss	0	0	0
Settlement and curtailment gains	9	0	0
Net pension benefit cost (gain)	247	(647)	(1,015)
US plans
Defined Benefit Plan Disclosure [Line Items]
Service cost	0	0	0
Interest cost	7,567	8,711	8,179
Return on plan assets	(11,676)	(10,313)	(11,914)
Amortization of prior service cost	0	0	0
Recognized net actuarial loss	2,866	2,771	1,642
Settlement and curtailment gains	154	(37)	135
Net pension benefit cost (gain)	$ (1,089)	$ 1,132	$ (1,958)

Employee Benefit Plans - Additi

Employee Benefit Plans - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Feb. 20, 2020
Defined Benefit Plan Disclosure [Line Items]
Market cycle minimum period in which objective should be met over	5 years
Market cycle maximum period in which objective should be met over	7 years
Number of shares included in equity securities	0	0
Costs for maintaining contribution plans	$ 24,900,000	$ 28,100,000	$ 25,000,000
Restoration Plan
Defined Benefit Plan Disclosure [Line Items]
Liability under the restoration plan	$ 7,800,000	8,400,000
Noble Drilling Corporation Profit Sharing Plan
Defined Benefit Plan Disclosure [Line Items]
Number of years of service for the participants in the plan to become fully vested	3 years
Plan participants’ contributions	$ 2,400,000	2,400,000	2,300,000
Equity securities
Defined Benefit Plan Disclosure [Line Items]
Percentage of company's overall investments	41.00%
Debt security
Defined Benefit Plan Disclosure [Line Items]
Percentage of company's overall investments	57.70%
Cash holdings
Defined Benefit Plan Disclosure [Line Items]
Percentage of company's overall investments	1.30%
Non-US
Defined Benefit Plan Disclosure [Line Items]
Net actuarial losses and prior service costs (less than)	$ 100,000
Projected benefit obligation	0	0
Accumulated benefit obligation	$ 0	0
Defined benefit plan, investment within plan asset category, de-risking basis of gilts, percentage	0.20%
Defined benefit plan, investment within plan asset category, minimum outperformance versus cash, percentage	4.00%
Employer contributions	$ 0	0	0
Expected contribution to non-U.S. and U.S pension plans	$ 0
Non-US | Equity securities
Defined Benefit Plan Disclosure [Line Items]
Percentage of company's overall investments	10.00%			20.00%
Non-US | Debt security
Defined Benefit Plan Disclosure [Line Items]
Percentage of company's overall investments	90.00%			80.00%
US plans
Defined Benefit Plan Disclosure [Line Items]
Net actuarial losses and prior service costs (less than)	$ 2,900,000
Decrease in pension liability	1,700,000	2,100,000	600,000
Projected benefit obligation	266,090,000	240,249,000
Accumulated benefit obligation	266,090,000	240,249,000
Employer contributions	2,002,000	1,317,000	$ 4,600,000
Expected contribution to non-U.S. and U.S pension plans	8,200,000
US plans | Unfunded excess benefit plan
Defined Benefit Plan Disclosure [Line Items]
Projected benefit obligation	9,700,000	10,800,000
Accumulated benefit obligation	$ 9,700,000	$ 10,800,000

Employee Benefit Plans - Disagg

Employee Benefit Plans - Disaggregated Plan Information (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 222,417	$ 194,160
Non-US
Defined Benefit Plan Disclosure [Line Items]
Projected benefit obligation	67,943	62,485	$ 54,898
Accumulated benefit obligation	67,943	62,485
Fair value of plan assets	83,808	76,429	68,597
US plans
Defined Benefit Plan Disclosure [Line Items]
Projected benefit obligation	266,090	240,249	210,944
Accumulated benefit obligation	266,090	240,249
Fair value of plan assets	$ 222,417	$ 194,160	$ 165,730

Employee Benefit Plans - Plans

Employee Benefit Plans - Plans in which PBO Exceeded Fair Value (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Non-US
Defined Benefit Plan Disclosure [Line Items]
Projected benefit obligation	$ 0	$ 0
Fair value of plan assets	0	0
US plans
Defined Benefit Plan Disclosure [Line Items]
Projected benefit obligation	266,090	240,249
Fair value of plan assets	$ 222,417	$ 194,160

Employee Benefit Plans - Plan_2

Employee Benefit Plans - Plans in which Accumulated Benefit Obligation Exceeded Fair Value of Plan Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Non-US
Defined Benefit Plan Disclosure [Line Items]
Accumulated benefit obligation	$ 0	$ 0
Fair value of plan assets	0	0
US plans
Defined Benefit Plan Disclosure [Line Items]
Accumulated benefit obligation	266,090	240,249
Fair value of plan assets	$ 222,417	$ 194,160

Employee Benefit Plans - Define

Employee Benefit Plans - Defined Benefit Plans Key Assumptions (Details)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Non-US
Weighted-average assumptions used to determine benefit obligations:
Discount Rate	1.40%	2.10%
Weighted-average assumptions used to determine periodic benefit cost:
Discount Rate	2.10%	2.90%	2.60%
Expected long-term return on assets	2.90%	3.70%	3.70%
US plans | Minimum
Weighted-average assumptions used to determine benefit obligations:
Discount Rate	1.82%	2.56%
Weighted-average assumptions used to determine periodic benefit cost:
Discount Rate	2.56%	3.65%	2.84%
Expected long-term return on assets	5.40%	5.40%	5.75%
US plans | Maximum
Weighted-average assumptions used to determine benefit obligations:
Discount Rate	2.60%	332.00%
Weighted-average assumptions used to determine periodic benefit cost:
Discount Rate	3.32%	4.29%	3.66%
Expected long-term return on assets	6.30%	6.50%	6.50%

Employee Benefit Plans - Actual

Employee Benefit Plans - Actual Fair Values of Pension Plans (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 222,417	$ 194,160
Quoted Prices in Active Markets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	175,809	153,298
Significant Other Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	46,608	40,862
Significant Unobservable Inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	1,727	2,254
Cash and cash equivalents | Quoted Prices in Active Markets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	1,727	2,254
Cash and cash equivalents | Significant Other Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Cash and cash equivalents | Significant Unobservable Inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Corporate bonds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	83,645	75,131
Corporate bonds | Quoted Prices in Active Markets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	82,669	74,253
Corporate bonds | Significant Other Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	976	878
Corporate bonds | Significant Unobservable Inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
United States
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	78,019	60,422
United States | Quoted Prices in Active Markets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	32,387	21,502
United States | Significant Other Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	45,632	38,920
United States | Significant Unobservable Inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
International, equity securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	32,310	23,470
International, equity securities | Quoted Prices in Active Markets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	32,310	23,470
International, equity securities | Significant Other Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
International, equity securities | Significant Unobservable Inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Municipal bonds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	1,064
Municipal bonds | Quoted Prices in Active Markets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Municipal bonds | Significant Other Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	1,064
Municipal bonds | Significant Unobservable Inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets
Treasury bonds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	26,716	31,819
Treasury bonds | Quoted Prices in Active Markets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	26,716	31,819
Treasury bonds | Significant Other Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Treasury bonds | Significant Unobservable Inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Non-US
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	83,808	76,429	$ 68,597
Non-US | Quoted Prices in Active Markets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	83,808	76,429
Non-US | Significant Other Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Non-US | Significant Unobservable Inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Non-US | Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	5,405	903
Non-US | Cash and cash equivalents | Quoted Prices in Active Markets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	5,405	903
Non-US | Cash and cash equivalents | Significant Other Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Non-US | Cash and cash equivalents | Significant Unobservable Inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Non-US | Equity securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	4,179	26,131
Non-US | Equity securities | Quoted Prices in Active Markets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	4,179	26,131
Non-US | Equity securities | Significant Other Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Non-US | Equity securities | Significant Unobservable Inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Non-US | Corporate bonds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	72,407	49,395
Non-US | Corporate bonds | Quoted Prices in Active Markets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	72,407	49,395
Non-US | Corporate bonds | Significant Other Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Non-US | Corporate bonds | Significant Unobservable Inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Non-US | Other
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	1,817	0
Non-US | Other | Quoted Prices in Active Markets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	1,817	0
Non-US | Other | Significant Other Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Non-US | Other | Significant Unobservable Inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
US plans
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 222,417	$ 194,160	$ 165,730

Employee Benefit Plans - Estima

Employee Benefit Plans - Estimated Benefit Payments (Details) $ in Thousands	Dec. 31, 2020USD ($)
Defined Benefit Plan Disclosure [Line Items]
Total	$ 140,046
2020	19,390
2021	11,791
2022	12,375
2023	12,663
2024	13,200
Thereafter	70,627
Non-US plans
Defined Benefit Plan Disclosure [Line Items]
Total	24,311
2020	2,071
2021	2,143
2022	2,218
2023	2,296
2024	2,376
Thereafter	13,207
US plans
Defined Benefit Plan Disclosure [Line Items]
Total	115,735
2020	17,319
2021	9,648
2022	10,157
2023	10,367
2024	10,824
Thereafter	$ 57,420

Derivative Instruments and He_3

Derivative Instruments and Hedging Activities - Additional Information (Details) - Foreign currency forward contracts	Dec. 31, 2020USD ($)contract	Dec. 31, 2019USD ($)contract
Derivative [Line Items]
Notional amount | $	$ 0	$ 15,800,000
Number of contracts outstanding | contract	0	0

Derivative Instruments and He_4

Derivative Instruments and Hedging Activities - Summarization of Recognized Gains and Losses of Cash Flow Hedges (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Foreign currency forward contracts | Designated as hedging | Contract drilling services | Cash flow hedges | Cost of Goods and Service, Excluding Depreciation, Depletion, and Amortization
Derivative Instruments, Gain (Loss) [Line Items]
Gain/(loss) reclassified from AOCI to “Contract drilling services” costs	$ 0	$ 320

Fair Value of Financial Instr_3

Fair Value of Financial Instruments - Carrying Amount and Estimated Fair Value of Financial Instruments (Details) - Recurring - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Quoted Prices in Active Markets (Level 1)
Assets -
Marketable securities	$ 12,326	$ 10,433
Significant Other Observable Inputs (Level 2)
Assets -
Marketable securities	0	0
Significant Unobservable Inputs (Level 3)
Assets -
Marketable securities	0	0
Carrying Value
Assets -
Marketable securities	$ 12,326	$ 10,433

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Millions	Dec. 15, 2017USD ($)	Jan. 31, 2017USD ($)rig	Dec. 31, 2020USD ($)	Feb. 03, 2021USD ($)	Sep. 23, 2020USD ($)	Sep. 15, 2020installment
Other Commitments [Line Items]
Number of newbuild rigs allegedly infringing patent | rig		5
Damages sought		$ 10
License fee percentage		5.00%
Number of installment for litigation settlement payments | installment						3
Aggregate amount of claims filed					$ 85
Payment made to the litigation trust					10
Up-front payment required amount					$ 7.5
Years of effectiveness of employment agreements after the termination of employment			3 years
Subsequent Event
Other Commitments [Line Items]
Litigation settlement, payment into escrow by debtors				$ 7.7
Litigation settlement, contribution by certain insurers				$ 82.7
Minimum
Other Commitments [Line Items]
Percentage of uncertain tax positions likelihood of being sustained			50.00%
Customs And Other Business Taxes | Mexico | Non-United States
Other Commitments [Line Items]
Approximate audit claims assessed			$ 96.1
Borrowings By Paragon Offshore
Other Commitments [Line Items]
Damages sought	$ 2,600

Segment and Related Informati_3

Segment and Related Information - Revenues And Identifiable Assets By Country (Details) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020USD ($)	Sep. 30, 2020USD ($)	Jun. 30, 2020USD ($)	Mar. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Sep. 30, 2019USD ($)	Jun. 30, 2019USD ($)	Mar. 31, 2019USD ($)	Dec. 31, 2020USD ($)segment	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Revenues From External Customers And Long Lived Assets [Line Items]
Number of reportable segments | segment									1
Total revenues	$ 203,207	$ 241,836	$ 237,918	$ 281,311	$ 454,088	$ 275,526	$ 292,936	$ 282,888	$ 964,272	$ 1,305,438	$ 1,082,826
Identifiable Assets	4,263,937				8,284,498				4,263,937	8,284,498
Australia
Revenues From External Customers And Long Lived Assets [Line Items]
Total revenues									50,434	33,623	0
Identifiable Assets	30,498				244,244				30,498	244,244
Brazil
Revenues From External Customers And Long Lived Assets [Line Items]
Total revenues									0	0	0
Identifiable Assets	14,184				8,910				14,184	8,910
Brunei
Revenues From External Customers And Long Lived Assets [Line Items]
Total revenues									0	0	3,080
Identifiable Assets	0				0				0	0
Bulgaria
Revenues From External Customers And Long Lived Assets [Line Items]
Total revenues									0	61,525	84,757
Identifiable Assets	0				0				0	0
Canada
Revenues From External Customers And Long Lived Assets [Line Items]
Total revenues									28,915	46,147	47,085
Identifiable Assets	4,579				199,696				4,579	199,696
Curacao
Revenues From External Customers And Long Lived Assets [Line Items]
Total revenues									0	0	0
Identifiable Assets	0				75,776				0	75,776
Denmark
Revenues From External Customers And Long Lived Assets [Line Items]
Total revenues									7,662	31,076	35,855
Identifiable Assets	0				238,413				0	238,413
East Timor
Revenues From External Customers And Long Lived Assets [Line Items]
Total revenues									0	0	33,733
Identifiable Assets	0				0				0	0
Egypt
Revenues From External Customers And Long Lived Assets [Line Items]
Total revenues									0	49,209	112,473
Identifiable Assets	0				0				0	0
Gabon
Revenues From External Customers And Long Lived Assets [Line Items]
Total revenues									147	0	0
Identifiable Assets	4,509				4,160				4,509	4,160
Guyana
Revenues From External Customers And Long Lived Assets [Line Items]
Total revenues									222,088	132,414	50,839
Identifiable Assets	1,824,921				1,807,296				1,824,921	1,807,296
Malaysia
Revenues From External Customers And Long Lived Assets [Line Items]
Total revenues									0	251,497	91,052
Identifiable Assets	9,199				30,012				9,199	30,012
Mexico
Revenues From External Customers And Long Lived Assets [Line Items]
Total revenues									0	0	0
Identifiable Assets	1,297				28,032				1,297	28,032
Myanmar
Revenues From External Customers And Long Lived Assets [Line Items]
Total revenues									21,084	56,207	16,572
Identifiable Assets	0				151,116				0	151,116
Qatar
Revenues From External Customers And Long Lived Assets [Line Items]
Total revenues									31,024	36,948	35,180
Identifiable Assets	24,024				219,569				24,024	219,569
Saudi Arabia
Revenues From External Customers And Long Lived Assets [Line Items]
Total revenues									133,246	154,807	156,989
Identifiable Assets	398,093				673,884				398,093	673,884
Singapore
Revenues From External Customers And Long Lived Assets [Line Items]
Total revenues									0	0	1,769
Identifiable Assets	0				0				0	0
Suriname
Revenues From External Customers And Long Lived Assets [Line Items]
Total revenues									61,474	17,374	(3)
Identifiable Assets	585,994				599,659				585,994	599,659
Tanzania
Revenues From External Customers And Long Lived Assets [Line Items]
Total revenues									0	0	381
Identifiable Assets	0				0				0	0
Trinidad and Tobago
Revenues From External Customers And Long Lived Assets [Line Items]
Total revenues									9,468	0	0
Identifiable Assets	19,031				0				19,031	0
United Arab Emirates
Revenues From External Customers And Long Lived Assets [Line Items]
Total revenues									0	0	(17)
Identifiable Assets	52,266				31,150				52,266	31,150
United Kingdom
Revenues From External Customers And Long Lived Assets [Line Items]
Total revenues									180,610	243,063	194,602
Identifiable Assets	749,416				1,373,524				749,416	1,373,524
United States
Revenues From External Customers And Long Lived Assets [Line Items]
Total revenues									209,401	191,548	218,479
Identifiable Assets	545,926				2,599,057				545,926	2,599,057
Vietnam
Revenues From External Customers And Long Lived Assets [Line Items]
Total revenues									8,719	0	$ 0
Identifiable Assets	$ 0				$ 0				$ 0	$ 0

Supplemental Financial Inform_3

Supplemental Financial Information - Additional Information (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Schedule Of Supplemental Financial Information [Line Items]
Deferred revenues	$ 59,886	$ 65,055	$ 80,753
Deferred expenses under drilling contracts	13,900	30,800
Aramco | Prepaid expenses and other current assets
Schedule Of Supplemental Financial Information [Line Items]
Additions to property and equipment	35,300	36,000	$ 52,100
Contract drilling services
Schedule Of Supplemental Financial Information [Line Items]
Deferred revenues	$ 59,900	$ 65,100

Supplemental Financial Inform_4

Supplemental Financial Information - Effect of Changes in Other Assets and Liabilities on Cash Flows from Operating Activities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Supplemental Cash Flow Elements [Abstract]
Accounts receivable	$ 50,802	$ 2,057	$ 3,974
Other current assets	(866)	3,573	(2,722)
Other assets	(2,369)	16,218	(10,378)
Accounts payable	357	(2,279)	14,955
Other current liabilities	8,582	(4,700)	(13,940)
Other liabilities	(10,941)	(24,577)	(26,829)
Net change in other assets and liabilities	45,565	(9,708)	(34,940)
Noble Finance Company
Supplemental Cash Flow Elements [Abstract]
Accounts receivable	19,588	2,057	3,974
Other current assets	7,830	4,046	(2,700)
Other assets	(800)	18,749	(6,424)
Accounts payable	(11,018)	(2,182)	14,795
Other current liabilities	16,055	(4,549)	(13,495)
Other liabilities	(10,941)	(24,577)	(26,829)
Net change in other assets and liabilities	$ 20,714	$ (6,456)	$ (30,679)

Supplemental Financial Inform_5

Supplemental Financial Information - Additional Cash Flow Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Supplemental Cash Flow Elements [Abstract]
Interest, net of amounts capitalized	$ 138,040	$ 289,457	$ 286,506
Income taxes paid (refunded), net	(133,708)	8,181	(107,554)
Noble Finance Company
Supplemental Cash Flow Elements [Abstract]
Interest, net of amounts capitalized	138,040	289,457	286,506
Income taxes paid (refunded), net	$ (133,708)	$ 8,181	$ (107,554)

Combined Debtor-In-Possession_3

Combined Debtor-In-Possession Financial Information - Combined Debtors' Balance Sheet (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Current assets
Cash and cash equivalents	$ 343,332	$ 104,621
Accounts receivable	147,863	198,665
Taxes receivable	30,767	59,771
Prepaid expenses and other current assets	80,322	59,050
Total current assets	602,284	422,107
Property and equipment, at cost	4,777,697	10,306,625
Accumulated depreciation	(1,200,628)	(2,572,701)
Property and equipment, net	3,577,069	7,733,924
Other assets	84,584	128,467
Total assets	4,263,937	8,284,498
Current liabilities
Accounts payable	95,159	108,208
Accrued payroll and related costs	36,553	56,056
Taxes payable	36,819	30,715
Other current liabilities	49,820	171,397
Total current liabilities	218,351	516,928
Deferred income taxes	9,292	68,201
Other liabilities	108,039	260,898
Liabilities subject to compromise	4,239,643	0
Total liabilities	4,575,325	4,625,526
Total debtors’ equity	(311,388)	3,658,972
Total liabilities and equity	4,263,937	$ 8,284,498
Liabilities subject to compromise payables to non debtor affiliates	6,217,729
Parent Company And Subsidiaries Debtor In Possession
Current assets
Cash and cash equivalents	201,239
Accounts receivable	117,179
Receivables from non-debtor affiliates	2,921,225
Taxes receivable	24,475
Prepaid expenses and other current assets	58,973
Short-term notes receivable from non-debtor affiliates	365,112
Total current assets	3,688,203
Property and equipment, at cost	4,728,956
Accumulated depreciation	(1,184,698)
Property and equipment, net	3,544,258
Investment in non-debtor affiliates	19,622,028
Receivables from non-debtor affiliates	551,368
Other assets	60,173
Total assets	27,466,030
Current liabilities
Accounts payable	76,190
Accounts payable to non-debtor affiliates	36,140
Accrued payroll and related costs	31,327
Taxes payable	24,865
Other current liabilities	40,652
Total current liabilities	209,174
Deferred income taxes	8,678
Other liabilities	99,441
Liabilities subject to compromise	10,457,372
Total liabilities	10,774,665
Total debtors’ equity	16,691,365
Total liabilities and equity	$ 27,466,030

Combined Debtor-In-Possession_4

Combined Debtor-In-Possession Financial Information - Combined Debtors' Statements of Operations (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Condensed Financial Statements Captions [Line Items]
Operating revenues	$ 203,207	$ 241,836	$ 237,918	$ 281,311	$ 454,088	$ 275,526	$ 292,936	$ 282,888	$ 964,272	$ 1,305,438	$ 1,082,826
Operating costs and expenses
Depreciation and amortization									374,129	440,221	486,530
General and administrative									121,196	168,792	73,216
Pre-petition charges									14,409	0	0
Loss on impairment									3,915,408	615,294	802,133
Total operating costs and expenses									5,040,817	1,971,711	2,028,900
Operating loss	$ (2,829,662)	$ (18,875)	$ (95,453)	$ (1,132,555)	$ 116,261	$ (640,012)	$ (118,710)	$ (23,812)	(4,076,545)	(666,273)	(946,074)
Other income (expense)
Interest expense, net of amounts capitalized									(164,653)	(279,435)	(297,611)
Gain (loss) on extinguishment of debt, net									17,254	30,616	(1,793)
Interest income and other, net									9,012	6,007	8,302
Reorganization items, net									(23,930)	0	0
Loss from continuing operations before income taxes									(4,238,862)	(909,085)	(1,237,176)
Income tax benefit									260,403	38,540	106,641
Net loss									(3,978,459)	(874,366)	(1,130,535)
Parent Company And Subsidiaries Debtor In Possession
Condensed Financial Statements Captions [Line Items]
Operating revenues									874,490
Operating costs and expenses
Depreciation and amortization									372,663
General and administrative									120,497
Pre-petition charges									14,409
Loss on impairment									3,914,608
Total operating costs and expenses									4,947,115
Operating loss									(4,072,625)
Other income (expense)
Interest expense, net of amounts capitalized									(164,421)
Interest expense from non-debtor affiliates									(33,421)
Gain (loss) on extinguishment of debt, net									17,254
Interest income and other, net									9,548
Interest income from non-debtor affiliates									31,751
Reorganization items, net									(23,930)
Loss from continuing operations before income taxes									(4,235,844)
Income tax benefit									247,021
Net loss									(3,988,823)
Contract drilling services
Condensed Financial Statements Captions [Line Items]
Operating revenues									909,236	1,246,058	1,036,082
Operating costs and expenses
Cost of services									567,487	698,343	629,937
Contract drilling services | Parent Company And Subsidiaries Debtor In Possession
Condensed Financial Statements Captions [Line Items]
Operating revenues									717,655
Operating costs and expenses
Cost of services									477,144
Reimbursables and other
Condensed Financial Statements Captions [Line Items]
Operating revenues									55,036	59,380	46,744
Operating costs and expenses
Cost of services									48,188	$ 49,061	$ 37,084
Reimbursables and other | Parent Company And Subsidiaries Debtor In Possession
Condensed Financial Statements Captions [Line Items]
Operating revenues									53,284
Operating costs and expenses
Cost of services									47,794
Non Debtor Affiliates | Parent Company And Subsidiaries Debtor In Possession
Condensed Financial Statements Captions [Line Items]
Operating revenues									$ 103,551

Combined Debtor-In-Possession_5

Combined Debtor-In-Possession Financial Information - Combined Debtors' Statements of Cash Flows (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Cash flows from operating activities
Net loss	$ (3,978,459)	$ (874,366)	$ (1,130,535)
Adjustments to reconcile net loss to net cash flow from operating activities:
Depreciation and amortization	374,129	440,221	486,530
Loss on impairment	3,915,408	615,294	802,133
Reorganization items, net	(17,366)	0	0
Gain on extinguishment of debt, net	(17,254)	(30,616)	1,793
Deferred income taxes	(26,325)	(17,825)	(68,416)
Amortization of share-based compensation	9,169	14,737	23,993
Other costs, net	(61,550)	60,259	6,446
Changes in components of working capital
Change in taxes receivable	29,880	(11,225)	84,847
Net changes in other operating assets and liabilities	45,565	(9,708)	(34,940)
Net cash used in operating activities	273,197	186,771	171,851
Cash flows from investing activities
Capital expenditures	(148,886)	(268,783)	(194,779)
Proceeds from disposal of assets	27,366	12,753	5,402
Net cash used in investing activities	(121,520)	(256,030)	(189,377)
Cash flows from financing activities
Borrowings on credit facilities	210,000	755,000	0
Repayments of senior notes	(101,132)	(400,000)	(972,708)
Cash paid to settle equity awards	(1,010)	0	0
Taxes withheld on employee stock transactions	(418)	(2,779)	(3,470)
Net cash provided by (used in) financing activities	107,440	(200,724)	(269,396)
Net increase (decrease) in cash, cash equivalents and restricted cash	259,117	(269,983)	(286,922)
Cash, cash equivalents and restricted cash, beginning of period	105,924	375,907	662,829
Cash, cash equivalents and restricted cash, end of period	365,041	105,924	$ 375,907
Parent Company And Subsidiaries Debtor In Possession
Cash flows from operating activities
Net loss	(3,988,823)
Adjustments to reconcile net loss to net cash flow from operating activities:
Depreciation and amortization	372,663
Loss on impairment	3,914,608
Reorganization items, net	(17,366)
Gain on extinguishment of debt, net	(17,254)
Deferred income taxes	(26,435)
Amortization of share-based compensation	9,169
Other costs, net	(42,020)
Changes in components of working capital
Change in taxes receivable	28,117
Net changes in other operating assets and liabilities	(274,902)
Net changes in other operating assets and liabilities with non-debtor affiliates	(143,759)
Net cash used in operating activities	(186,002)
Cash flows from investing activities
Capital expenditures	(148,028)
Proceeds from disposal of assets	26,999
Net cash used in investing activities	(121,029)
Cash flows from financing activities
Borrowings on credit facilities	210,000
Repayments of senior notes	(101,132)
Cash paid to settle equity awards	(1,010)
Other financing activities with non-debtor affiliates	348,107
Taxes withheld on employee stock transactions	(418)
Net cash provided by (used in) financing activities	455,547
Net increase (decrease) in cash, cash equivalents and restricted cash	148,516
Cash, cash equivalents and restricted cash, beginning of period	73,682
Cash, cash equivalents and restricted cash, end of period	$ 222,198	$ 73,682

Unaudited Interim Financial D_3

Unaudited Interim Financial Data (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Quarterly Financial Information Disclosure [Abstract]
Operating revenues	$ 203,207	$ 241,836	$ 237,918	$ 281,311	$ 454,088	$ 275,526	$ 292,936	$ 282,888	$ 964,272	$ 1,305,438	$ 1,082,826
Operating income (loss)	(2,829,662)	(18,875)	(95,453)	(1,132,555)	116,261	(640,012)	(118,710)	(23,812)	(4,076,545)	(666,273)	(946,074)
Net loss from continuing operations	$ (2,822,720)	$ (50,868)	$ (42,194)	$ (1,062,677)	(32,870)	(444,871)	(151,960)	(67,068)	(3,978,459)	(696,769)	(885,050)
Net loss from discontinued operations, net of tax					$ 0	$ 0	$ 0	$ (3,821)	$ 0	$ (3,821)	$ 0
Basic:
Loss from continuing operations (usd per share)	$ (11.24)	$ (0.20)	$ (0.17)	$ (4.25)	$ (0.13)	$ (1.79)	$ (0.61)	$ (0.27)	$ (15.86)	$ (2.79)	$ (3.59)
Loss from discontinued operations (usd per share)					0	0	0	(0.02)	0	(0.02)	0
Diluted:
Loss from continuing operations (usd per share)	$ (11.24)	$ (0.20)	$ (0.17)	$ (4.25)	(0.13)	(1.79)	(0.61)	(0.27)	(15.86)	(2.79)	(3.59)
Loss from discontinued operations (usd per share)					$ 0	$ 0	$ 0	$ (0.02)	$ 0	$ (0.02)	$ 0

Uncategorized Items - ne-202012

Label	Element	Value
Accounting Standards Update [Extensible List]	us-gaap_AccountingStandardsUpdateExtensibleList	us-gaap:AccountingStandardsUpdate201409Member
Noble Finance Company [Member]
Accounting Standards Update [Extensible List]	us-gaap_AccountingStandardsUpdateExtensibleList	us-gaap:AccountingStandardsUpdate201409Member