Guarantees of Registered Securities | 9 Months Ended |
Sep. 30, 2013 |
Organization Consolidation And Presentation Of Financial Statements [Abstract] | ' |
Guarantees of Registered Securities | ' |
Note 19 — Guarantees of Registered Securities |
Guarantees of Registered Securities |
Noble-Cayman, or one or more subsidiaries of Noble-Cayman, are a co-issuer or guarantor or otherwise obligated as of September 30, 2013 as follows: |
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| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | Issuer | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Notes | | (Co-Issuer(s)) | | Guarantor(s) | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
$250 million 7.375% Senior Notes due 2014 | | NHIL | | Noble-Cayman | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
$350 million 3.45% Senior Notes due 2015 | | NHIL | | Noble-Cayman | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
$300 million 3.05% Senior Notes due 2016 | | NHIL | | Noble-Cayman | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
$300 million 2.50% Senior Notes due 2017 | | NHIL | | Noble-Cayman | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
$202 million 7.50% Senior Notes due 2019 | | NDC; | | Noble-Cayman; | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | Noble Drilling | | Noble Holding (U.S.) | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Services 6 LLC (“NDS6”) | Corporation (“NHC”); | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | Noble Drilling | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Holding LLC (“NDH”) | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
$500 million 4.90% Senior Notes due 2020 | | NHIL | | Noble-Cayman | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
$400 million 4.625% Senior Notes due 2021 | | NHIL | | Noble-Cayman | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
$400 million 3.95% Senior Notes due 2022 | | NHIL | | Noble-Cayman | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
$400 million 6.20% Senior Notes due 2040 | | NHIL | | Noble-Cayman | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
$400 million 6.05% Senior Notes due 2041 | | NHIL | | Noble-Cayman | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
$500 million 5.25% Senior Notes due 2042 | | NHIL | | Noble-Cayman | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
The following consolidating financial statements of Noble-Cayman, NHC and NDH combined, NDC, NHIL, NDS6 and all other subsidiaries present investments in both consolidated and unconsolidated affiliates using the equity method of accounting. |
Revision |
As part of our worldwide asset consolidation completed in 2009, NDC received a limited partnership interest in one of our Other Non-Guarantor Subsidiaries of Noble. This limited partnership interest has historically been included as a component of Total Shareholder Equity and income attributable to this limited partnership interest has been included in Net Income Attributable to Noble Corporation in the Other Non-Guarantor Subsidiaries of Noble column in the condensed consolidating financial statements. |
During the first quarter of 2013, we amended the presentation of this limited partnership interest in the Other Non-guarantor Subsidiaries of Noble column to correctly present it as a noncontrolling interest and to record the income attributable to NDC as Net Income Attributable to Noncontrolling Interests. We also made appropriate adjustments to the Consolidating Adjustments column. We concluded these errors were not material individually or in the aggregate to any of the previously issued financial statements taken as a whole. The following chart presents the impact of this change in presentation in the Other Non-Guarantor Subsidiaries of Noble and Consolidating Adjustments columns on the historical Condensed Consolidating Balance Sheet and Condensed Consolidating Statement of Income. The revisions below did not impact our Condensed Consolidating Statement of Cash Flows. |
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| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | Other Non-Guarantor | | | | | | | | | | | | | | | | | | | | | | | |
| | Subsidiaries of Noble | | | Consolidating Adjustments | | | | | | | | | | | | | | | | | |
| | As reported | | | As adjusted | | | As reported | | | As adjusted | | | | | | | | | | | | | | | | | |
December 31, 2010 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Income statement- Twelve months ended | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Net income | | $ | 1,023,782 | | | $ | 1,023,782 | | | $ | (2,963,512 | ) | | $ | (2,963,512 | ) | | | | | | | | | | | | | | | | |
Net income attributable to noncontrolling interests | | | (3 | ) | | | (41,889 | ) | | | — | | | | 41,886 | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Net income attributable to Noble Corporation | | $ | 1,023,779 | | | $ | 981,893 | | | $ | (2,963,512 | ) | | $ | (2,921,626 | ) | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
December 31, 2011 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Income statement- Twelve months ended | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Net income | | $ | 634,128 | | | $ | 634,128 | | | $ | (1,758,285 | ) | | $ | (1,758,285 | ) | | | | | | | | | | | | | | | | |
Net loss attributable to noncontrolling interests | | | 7,273 | | | | (15,808 | ) | | | — | | | | 23,081 | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Net income attributable to Noble Corporation | | $ | 641,401 | | | $ | 618,320 | | | $ | (1,758,285 | ) | | $ | (1,735,204 | ) | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Balance Sheet | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Total shareholder equity | | $ | 9,853,129 | | | $ | 9,483,809 | | | $ | (28,268,572 | ) | | $ | (27,899,252 | ) | | | | | | | | | | | | | | | | |
Noncontrolling interests | | | 691,331 | | | | 1,060,651 | | | | — | | | | (369,320 | ) | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Total equity | | $ | 10,544,460 | | | $ | 10,544,460 | | | $ | (28,268,572 | ) | | $ | (28,268,572 | ) | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
March 31, 2012 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Income statement- Three months ended | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Net income | | $ | 173,657 | | | $ | 173,657 | | | $ | (591,588 | ) | | $ | (591,588 | ) | | | | | | | | | | | | | | | | |
Net income attributable to noncontrolling interests | | | 6,832 | | | | (1,196 | ) | | | — | | | | 8,028 | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Net income attributable to Noble Corporation | | $ | 180,489 | | | $ | 172,461 | | | $ | (591,588 | ) | | $ | (583,560 | ) | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
June 30, 2012 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Income statement- Three months ended | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Net income | | $ | 253,086 | | | $ | 253,086 | | | $ | (662,439 | ) | | $ | (662,439 | ) | | | | | | | | | | | | | | | | |
Net income attributable to noncontrolling interests | | | (18,857 | ) | | | (29,201 | ) | | | — | | | | 10,344 | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Net income attributable to Noble Corporation | | $ | 234,229 | | | $ | 223,885 | | | $ | (662,439 | ) | | $ | (652,095 | ) | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Income statement- Six months ended | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Net income | | $ | 426,743 | | | $ | 426,743 | | | $ | (1,254,027 | ) | | $ | (1,254,027 | ) | | | | | | | | | | | | | | | | |
Net income attributable to noncontrolling interests | | | (12,025 | ) | | | (30,397 | ) | | | — | | | | 18,372 | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Net income attributable to Noble Corporation | | $ | 414,718 | | | $ | 396,346 | | | $ | (1,254,027 | ) | | $ | (1,235,655 | ) | | | | | | | | | | | | | | | | |
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September 30, 2012 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Income statement- Three months ended | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Net income | | $ | 211,597 | | | $ | 211,597 | | | $ | (569,368 | ) | | $ | (569,368 | ) | | | | | | | | | | | | | | | | |
Net income attributable to noncontrolling interests | | | (14,906 | ) | | | (22,246 | ) | | | — | | | | 7,340 | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Net income attributable to Noble Corporation | | $ | 196,691 | | | $ | 189,351 | | | $ | (569,368 | ) | | $ | (562,028 | ) | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Income statement- Nine months ended | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Net income | | $ | 638,340 | | | $ | 638,340 | | | $ | (1,823,395 | ) | | $ | (1,823,395 | ) | | | | | | | | | | | | | | | | |
Net income attributable to noncontrolling interests | | | (26,931 | ) | | | (52,643 | ) | | | — | | | | 25,712 | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Net income attributable to Noble Corporation | | $ | 611,409 | | | $ | 585,697 | | | $ | (1,823,395 | ) | | $ | (1,797,683 | ) | | | | | | | | | | | | | | | | |
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| | Other Non-Guarantor | | | | | | | | | | | | | | | | | | | | | | | |
| | Subsidiaries of Noble | | | Consolidating Adjustments | | | | | | | | | | | | | | | | | |
| | As reported | | | As adjusted | | | As reported | | | As adjusted | | | | | | | | | | | | | | | | | |
December 31, 2012 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Income statement- Twelve months ended | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Net income | | $ | 280,763 | | | $ | 280,763 | | | $ | (1,891,202 | ) | | $ | (1,891,202 | ) | | | | | | | | | | | | | | | | |
Net income attributable to noncontrolling interests | | | (33,793 | ) | | | (68,969 | ) | | | — | | | | 35,176 | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Net income attributable to Noble Corporation | | $ | 246,970 | | | $ | 211,794 | | | $ | (1,891,202 | ) | | $ | (1,856,026 | ) | | | | | | | | | | | | | | | | |
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Balance Sheet | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Total shareholder equity | | $ | 9,913,839 | | | $ | 9,509,343 | | | $ | (29,719,135 | ) | | $ | (29,314,639 | ) | | | | | | | | | | | | | | | | |
Noncontrolling interests | | | 765,124 | | | | 1,169,620 | | | | — | | | | (404,496 | ) | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Total equity | | $ | 10,678,963 | | | $ | 10,678,963 | | | $ | (29,719,135 | ) | | $ | (29,719,135 | ) | | | | | | | | | | | | | | | | |
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|
NOBLE CORPORATION (NOBLE-CAYMAN) AND SUBSIDIARIES |
CONDENSED CONSOLIDATING BALANCE SHEET |
September 30, 2013 |
(in thousands) |
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | Noble- | | | NHC and NDH | | | | | | | | | | | | Subsidiaries | | | Consolidating | | | | |
| | Cayman | | | Combined | | | NDC | | | NHIL | | | NDS6 | | | of Noble | | | Adjustments | | | Total | |
ASSETS | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Current assets | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Cash and cash equivalents | | $ | 5 | | | $ | 123 | | | $ | — | | | $ | 8 | | | $ | — | | | $ | 173,581 | | | $ | — | | | $ | 173,717 | |
Accounts receivable | | | — | | | | 59,250 | | | | 3,388 | | | | — | | | | — | | | | 803,108 | | | | — | | | | 865,746 | |
Taxes receivable | | | — | | | | 41,407 | | | | — | | | | — | | | | — | | | | 101,831 | | | | — | | | | 143,238 | |
Prepaid expenses | | | — | | | | 749 | | | | 8 | | | | — | | | | — | | | | 48,572 | | | | — | | | | 49,329 | |
Short-term notes receivable from affiliates | | | — | | | | 869,476 | | | | — | | | | — | | | | 606,269 | | | | 319,201 | | | | (1,794,946 | ) | | | — | |
Accounts receivable from affiliates | | | 978,461 | | | | 157,252 | | | | 1,154,776 | | | | 172,379 | | | | 65,991 | | | | 6,311,688 | | | | (8,840,547 | ) | | | — | |
Other current assets | | | — | | | | 4,418 | | | | 196 | | | | — | | | | — | | | | 129,390 | | | | — | | | | 134,004 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Total current assets | | | 978,466 | | | | 1,132,675 | | | | 1,158,368 | | | | 172,387 | | | | 672,260 | | | | 7,887,371 | | | | (10,635,493 | ) | | | 1,366,034 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Property and equipment, at cost | | | — | | | | 2,518,896 | | | | 77,253 | | | | — | | | | — | | | | 15,973,482 | | | | — | | | | 18,569,631 | |
Accumulated depreciation | | | — | | | | (328,045 | ) | | | (61,592 | ) | | | — | | | | — | | | | (4,136,365 | ) | | | — | | | | (4,526,002 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Property and equipment, net | | | — | | | | 2,190,851 | | | | 15,661 | | | | — | | | | — | | | | 11,837,117 | | | | — | | | | 14,043,629 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Notes receivable from affiliates | | | 3,816,463 | | | | 675,000 | | | | — | | | | 3,524,814 | | | | 5,000 | | | | 1,827,879 | | | | (9,849,156 | ) | | | — | |
Investments in affiliates | | | 8,507,009 | | | | 12,100,603 | | | | 3,310,205 | | | | 8,521,927 | | | | 2,332,612 | | | | — | | | | (34,772,356 | ) | | | — | |
Other assets | | | 6,144 | | | | 5,266 | | | | 266 | | | | 23,395 | | | | 668 | | | | 246,217 | | | | — | | | | 281,956 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Total assets | | $ | 13,308,082 | | | $ | 16,104,395 | | | $ | 4,484,500 | | | $ | 12,242,523 | | | $ | 3,010,540 | | | $ | 21,798,584 | | | $ | (55,257,005 | ) | | $ | 15,691,619 | |
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LIABILITIES AND EQUITY | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Current liabilities | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Short-term notes payables from affiliates | | $ | 78,016 | | | $ | 127,036 | | | $ | 114,149 | | | $ | — | | | $ | 750,000 | | | $ | 725,745 | | | $ | (1,794,946 | ) | | $ | — | |
Accounts payable | | | — | | | | 4,338 | | | | 537 | | | | — | | | | — | | | | 311,058 | | | | — | | | | 315,933 | |
Accrued payroll and related costs | | | — | | | | 8,085 | | | | 8,865 | | | | — | | | | — | | | | 112,220 | | | | — | | | | 129,170 | |
Accounts payable to affiliates | | | 1,061,152 | | | | 4,998,213 | | | | 3,908 | | | | 236,008 | | | | 77,296 | | | | 2,463,970 | | | | (8,840,547 | ) | | | — | |
Taxes payable | | | — | | | | 13,434 | | | | 9 | | | | — | | | | — | | | | 116,628 | | | | — | | | | 130,071 | |
Other current liabilities | | | 496 | | | | 5,270 | | | | 240 | | | | 17,128 | | | | 630 | | | | 178,658 | | | | — | | | | 202,422 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Total current liabilities | | | 1,139,664 | | | | 5,156,376 | | | | 127,708 | | | | 253,136 | | | | 827,926 | | | | 3,908,279 | | | | (10,635,493 | ) | | | 777,596 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Long-term debt | | | 1,312,864 | | | | — | | | | — | | | | 3,793,279 | | | | 201,695 | | | | — | | | | — | | | | 5,307,838 | |
Notes payable to affiliates | | | 2,557,787 | | | | 586,979 | | | | — | | | | 975,000 | | | | 811,000 | | | | 4,918,390 | | | | (9,849,156 | ) | | | — | |
Deferred income taxes | | | — | | | | — | | | | 15,731 | | | | — | | | | — | | | | 171,917 | | | | — | | | | 187,648 | |
Other liabilities | | | 19,930 | | | | 23,106 | | | | — | | | | — | | | | — | | | | 349,407 | | | | — | | | | 392,443 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Total liabilities | | | 5,030,245 | | | | 5,766,461 | | | | 143,439 | | | | 5,021,415 | | | | 1,840,621 | | | | 9,347,993 | | | | (20,484,649 | ) | | | 6,665,525 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Commitments and contingencies | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Total shareholder equity | | | 8,277,837 | | | | 10,337,934 | | | | 4,341,061 | | | | 7,221,108 | | | | 1,169,919 | | | | 11,261,974 | | | | (34,331,996 | ) | | | 8,277,837 | |
Noncontrolling interest | | | — | | | | — | | | | — | | | | — | | | | — | | | | 1,188,617 | | | | (440,360 | ) | | | 748,257 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Total equity | | | 8,277,837 | | | | 10,337,934 | | | | 4,341,061 | | | | 7,221,108 | | | | 1,169,919 | | | | 12,450,591 | | | | (34,772,356 | ) | | | 9,026,094 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Total liabilities and equity | | $ | 13,308,082 | | | $ | 16,104,395 | | | $ | 4,484,500 | | | $ | 12,242,523 | | | $ | 3,010,540 | | | $ | 21,798,584 | | | $ | (55,257,005 | ) | | $ | 15,691,619 | |
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|
NOBLE CORPORATION (NOBLE-CAYMAN) AND SUBSIDIARIES |
CONDENSED CONSOLIDATING BALANCE SHEET |
December 31, 2012 |
(in thousands) |
|
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| | | | | | | | | | | | | | | | | Other | | | | | | | |
| | | | | | | | | | | | | | | | | Non-guarantor | | | | | | | |
| | Noble- | | | NHC and NDH | | | | | | | | | | | | Subsidiaries | | | Consolidating | | | | |
| | Cayman | | | Combined | | | NDC | | | NHIL | | | NDS6 | | | of Noble | | | Adjustments | | | Total | |
ASSETS | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Current assets | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Cash and cash equivalents | | $ | 1,003 | | | $ | 904 | | | $ | — | | | $ | 2 | | | $ | — | | | $ | 275,466 | | | $ | — | | | $ | 277,375 | |
Accounts receivable | | | — | | | | 14,885 | | | | 3,335 | | | | — | | | | — | | | | 725,453 | | | | — | | | | 743,673 | |
Taxes receivable | | | — | | | | 8,341 | | | | — | | | | — | | | | — | | | | 103,969 | | | | — | | | | 112,310 | |
Prepaid expenses | | | — | | | | 396 | | | | 9 | | | | — | | | | — | | | | 40,827 | | | | — | | | | 41,232 | |
Short-term notes receivable from affiliates | | | — | | | | 119,476 | | | | — | | | | — | | | | 586,769 | | | | 252,138 | | | | (958,383 | ) | | | — | |
Accounts receivable from affiliates | | | 664,375 | | | | 140,014 | | | | 1,015,204 | | | | 526,483 | | | | 38,895 | | | | 5,855,066 | | | | (8,240,037 | ) | | | — | |
Other current assets | | | 235 | | | | 639 | | | | 196 | | | | — | | | | — | | | | 121,579 | | | | — | | | | 122,649 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Total current assets | | | 665,613 | | | | 284,655 | | | | 1,018,744 | | | | 526,485 | | | | 625,664 | | | | 7,374,498 | | | | (9,198,420 | ) | | | 1,297,239 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Property and equipment, at cost | | | — | | | | 2,735,223 | | | | 76,428 | | | | — | | | | — | | | | 14,123,496 | | | | — | | | | 16,935,147 | |
Accumulated depreciation | | | — | | | | (283,028 | ) | | | (58,411 | ) | | | — | | | | — | | | | (3,597,079 | ) | | | — | | | | (3,938,518 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Property and equipment, net | | | — | | | | 2,452,195 | | | | 18,017 | | | | — | | | | — | | | | 10,526,417 | | | | — | | | | 12,996,629 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Notes receivable from affiliates | | | 3,816,463 | | | | 1,206,000 | | | | — | | | | 3,524,814 | | | | 479,107 | | | | 2,171,875 | | | | (11,198,259 | ) | | | — | |
Investments in affiliates | | | 7,770,066 | | | | 9,170,923 | | | | 3,386,879 | | | | 7,413,361 | | | | 1,977,906 | | | | — | | | | (29,719,135 | ) | | | — | |
Other assets | | | 5,798 | | | | 320 | | | | 543 | | | | 25,895 | | | | 759 | | | | 243,243 | | | | — | | | | 276,558 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Total assets | | $ | 12,257,940 | | | $ | 13,114,093 | | | $ | 4,424,183 | | | $ | 11,490,555 | | | $ | 3,083,436 | | | $ | 20,316,033 | | | $ | (50,115,814 | ) | | $ | 14,570,426 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
LIABILITIES AND EQUITY | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Current liabilities | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Short-term notes payables from affiliates | | $ | 90,314 | | | $ | 51,054 | | | $ | 110,770 | | | $ | — | | | $ | — | | | $ | 706,245 | | | $ | (958,383 | ) | | $ | — | |
Accounts payable | | | — | | | | 6,522 | | | | 1,183 | | | | — | | | | — | | | | 341,889 | | | | — | | | | 349,594 | |
Accrued payroll and related costs | | | — | | | | 6,176 | | | | 7,611 | | | | — | | | | — | | | | 110,149 | | | | — | | | | 123,936 | |
Accounts payable to affiliates | | | 900,063 | | | | 4,806,235 | | | | 5,444 | | | | 165,065 | | | | 77,075 | | | | 2,286,155 | | | | (8,240,037 | ) | | | — | |
Taxes payable | | | — | | | | 9,152 | | | | — | | | | — | | | | — | | | | 121,692 | | | | — | | | | 130,844 | |
Other current liabilities | | | 1,594 | | | | — | | | | 240 | | | | 62,430 | | | | 4,412 | | | | 158,259 | | | | — | | | | 226,935 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Total current liabilities | | | 991,971 | | | | 4,879,139 | | | | 125,248 | | | | 227,495 | | | | 81,487 | | | | 3,724,389 | | | | (9,198,420 | ) | | | 831,309 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Long-term debt | | | 639,794 | | | | — | | | | — | | | | 3,792,886 | | | | 201,695 | | | | — | | | | — | | | | 4,634,375 | |
Notes payable to affiliates | | | 2,840,287 | | | | 648,475 | | | | — | | | | 975,000 | | | | 1,342,000 | | | | 5,392,497 | | | | (11,198,259 | ) | | | — | |
Deferred income taxes | | | — | | | | — | | | | 15,731 | | | | — | | | | — | | | | 210,314 | | | | — | | | | 226,045 | |
Other liabilities | | | 19,930 | | | | 17,815 | | | | — | | | | — | | | | — | | | | 309,870 | | | | — | | | | 347,615 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Total liabilities | | | 4,491,982 | | | | 5,545,429 | | | | 140,979 | | | | 4,995,381 | | | | 1,625,182 | | | | 9,637,070 | | | | (20,396,679 | ) | | | 6,039,344 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Commitments and contingencies | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Total shareholder equity | | | 7,765,958 | | | | 7,568,664 | | | | 4,283,204 | | | | 6,495,174 | | | | 1,458,254 | | | | 9,509,343 | | | | (29,314,639 | ) | | | 7,765,958 | |
Noncontrolling interest | | | — | | | | — | | | | — | | | | — | | | | — | | | | 1,169,620 | | | | (404,496 | ) | | | 765,124 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Total equity | | | 7,765,958 | | | | 7,568,664 | | | | 4,283,204 | | | | 6,495,174 | | | | 1,458,254 | | | | 10,678,963 | | | | (29,719,135 | ) | | | 8,531,082 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Total liabilities and equity | | $ | 12,257,940 | | | $ | 13,114,093 | | | $ | 4,424,183 | | | $ | 11,490,555 | | | $ | 3,083,436 | | | $ | 20,316,033 | | | $ | (50,115,814 | ) | | $ | 14,570,426 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
|
NOBLE CORPORATION (NOBLE-CAYMAN) AND SUBSIDIARIES |
CONDENSED CONSOLIDATING STATEMENT OF INCOME |
Three Months Ended September 30, 2013 |
(in thousands) |
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | Other | | | | | | | |
| | | | | | | | | | | | | | | | | Non-guarantor | | | | | | | |
| | Noble- | | | NHC and NDH | | | | | | | | | | | | Subsidiaries | | | Consolidating | | | | |
| | Cayman | | | Combined | | | NDC | | | NHIL | | | NDS6 | | | of Noble | | | Adjustments | | | Total | |
Operating revenues | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Contract drilling services | | $ | — | | | $ | 67,831 | | | $ | 5,126 | | | $ | — | | | $ | — | | | $ | 991,221 | | | $ | (23,060 | ) | | $ | 1,041,118 | |
Reimbursables | | | — | | | | 1,796 | | | | — | | | | — | | | | — | | | | 27,446 | | | | — | | | | 29,242 | |
Labor contract drilling services | | | — | | | | — | | | | — | | | | — | | | | — | | | | 8,493 | | | | — | | | | 8,493 | |
Other | | | — | | | | — | | | | — | | | | — | | | | — | | | | 28 | | | | — | | | | 28 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Total operating revenues | | | — | | | | 69,627 | | | | 5,126 | | | | — | | | | — | | | | 1,027,188 | | | | (23,060 | ) | | | 1,078,881 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Operating costs and expenses | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Contract drilling services | | | 1,665 | | | | 24,776 | | | | 2,231 | | | | 29,339 | | | | — | | | | 451,162 | | | | (23,060 | ) | | | 486,113 | |
Reimbursables | | | — | | | | 1,509 | | | | — | | | | — | | | | — | | | | 22,162 | | | | — | | | | 23,671 | |
Labor contract drilling services | | | — | | | | — | | | | — | | | | — | | | | — | | | | 8,153 | | | | — | | | | 8,153 | |
Depreciation and amortization | | | — | | | | 15,937 | | | | 1,174 | | | | — | | | | — | | | | 206,065 | | | | — | | | | 223,176 | |
General and administrative | | | 252 | | | | 831 | | | | — | | | | 2,672 | | | | — | | | | 3,496 | | | | — | | | | 7,251 | |
Loss on impairment | | | — | | | | — | | | | — | | | | — | | | | — | | | | 3,585 | | | | — | | | | 3,585 | |
Gain on disposal of assets, net | | | — | | | | — | | | | — | | | | — | | | | — | | | | (35,646 | ) | | | — | | | | (35,646 | ) |
Gain on contract settlements/extinguishments, net | | | (45,000 | ) | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | | | | (45,000 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Total operating costs and expenses | | | (43,083 | ) | | | 43,053 | | | | 3,405 | | | | 32,011 | | | | — | | | | 658,977 | | | | (23,060 | ) | | | 671,303 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Operating income (loss) | | | 43,083 | | | | 26,574 | | | | 1,721 | | | | (32,011 | ) | | | — | | | | 368,211 | | | | — | | | | 407,578 | |
Other income (expense) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Equity earnings in affiliates, net of tax | | | 301,048 | | | | 189,686 | | | | 40,619 | | | | 330,102 | | | | (1,381,410 | ) | | | — | | | | 519,955 | | | | — | |
Interest expense, net of amounts capitalized | | | (34,941 | ) | | | (5,604 | ) | | | (503 | ) | | | (32,646 | ) | | | (14,998 | ) | | | (1,548,475 | ) | | | 1,614,018 | | | | (23,149 | ) |
Interest income and other, net | | | 1,664 | | | | 20,354 | | | | (7 | ) | | | 44,809 | | | | 1,524,744 | | | | 22,869 | | | | (1,614,018 | ) | | | 415 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Income before income taxes | | | 310,854 | | | | 231,010 | | | | 41,830 | | | | 310,254 | | | | 128,336 | | | | (1,157,395 | ) | | | 519,955 | | | | 384,844 | |
Income tax provision | | | — | | | | (51,021 | ) | | | — | | | | — | | | | — | | | | (4,467 | ) | | | — | | | | (55,488 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Net Income | | | 310,854 | | | | 179,989 | | | | 41,830 | | | | 310,254 | | | | 128,336 | | | | (1,161,862 | ) | | | 519,955 | | | | 329,356 | |
Net income attributable to noncontrolling interests | | | — | | | | — | | | | — | | | | — | | | | — | | | | (34,004 | ) | | | 15,502 | | | | (18,502 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Net income attributable to Noble Corporation | | | 310,854 | | | | 179,989 | | | | 41,830 | | | | 310,254 | | | | 128,336 | | | | (1,195,866 | ) | | | 535,457 | | | | 310,854 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Other comprehensive income, net | | | 5,846 | | | | — | | | | — | | | | — | | | | — | | | | 5,846 | | | | (5,846 | ) | | | 5,846 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Comprehensive income attributable to Noble Corporation | | $ | 316,700 | | | $ | 179,989 | | | $ | 41,830 | | | $ | 310,254 | | | $ | 128,336 | | | $ | (1,190,020 | ) | | $ | 529,611 | | | $ | 316,700 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
|
NOBLE CORPORATION (NOBLE-CAYMAN) AND SUBSIDIARIES |
CONDENSED CONSOLIDATING STATEMENT OF INCOME |
Nine Months Ended September 30, 2013 |
(in thousands) |
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | Noble- | | | NHC and | | | NDC | | | NHIL | | | NDS6 | | | Other | | | Consolidating | | | Total | |
Cayman | NDH | Non-guarantor | Adjustments |
| Combined | Subsidiaries of | |
| | Noble | |
Operating revenues | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Contract drilling services | | $ | — | | | $ | 201,101 | | | $ | 15,135 | | | $ | — | | | $ | — | | | $ | 2,795,505 | | | $ | (66,431 | ) | | $ | 2,945,310 | |
Reimbursables | | | — | | | | 5,117 | | | | — | | | | — | | | | — | | | | 73,559 | | | | — | | | | 78,676 | |
Labor contract drilling services | | | — | | | | — | | | | — | | | | — | | | | — | | | | 43,150 | | | | — | | | | 43,150 | |
Other | | | — | | | | — | | | | — | | | | — | | | | — | | | | 105 | | | | — | | | | 105 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Total operating revenues | | | — | | | | 206,218 | | | | 15,135 | | | | — | | | | — | | | | 2,912,319 | | | | (66,431 | ) | | | 3,067,241 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Operating costs and expenses | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Contract drilling services | | | 3,600 | | | | 61,079 | | | | 5,842 | | | | 79,188 | | | | — | | | | 1,364,841 | | | | (66,431 | ) | | | 1,448,119 | |
Reimbursables | | | — | | | | 4,332 | | | | — | | | | — | | | | — | | | | 56,962 | | | | — | | | | 61,294 | |
Labor contract drilling services | | | — | | | | — | | | | — | | | | — | | | | — | | | | 29,804 | | | | — | | | | 29,804 | |
Depreciation and amortization | | | — | | | | 46,120 | | | | 3,377 | | | | — | | | | — | | | | 591,662 | | | | — | | | | 641,159 | |
General and administrative | | | 1,544 | | | | 4,845 | | | | 1 | | | | 20,788 | | | | 1 | | | | 10,503 | | | | — | | | | 37,682 | |
Loss on impairment | | | — | | | | — | | | | — | | | | — | | | | — | | | | 3,585 | | | | — | | | | 3,585 | |
Gain on disposal of assets, net | | | — | | | | — | | | | — | | | | — | | | | — | | | | (35,646 | ) | | | — | | | | (35,646 | ) |
Gain on contract settlements/extinguishments, net | | | (45,000 | ) | | | — | | | | — | | | | — | | | | — | | | | (1,800 | ) | | | — | | | | (46,800 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Total operating costs and expenses | | | (39,856 | ) | | | 116,376 | | | | 9,220 | | | | 99,976 | | | | 1 | | | | 2,019,911 | | | | (66,431 | ) | | | 2,139,197 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Operating income (loss) | | | 39,856 | | | | 89,842 | | | | 5,915 | | | | (99,976 | ) | | | (1 | ) | | | 892,408 | | | | — | | | | 928,044 | |
Other income (expense) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Equity earnings in affiliates, net of tax | | | 736,942 | | | | 392,101 | | | | 53,787 | | | | 796,217 | | | | (1,177,957 | ) | | | — | | | | (801,090 | ) | | | — | |
Interest expense, net of amounts capitalized | | | (105,720 | ) | | | (18,604 | ) | | | (1,842 | ) | | | (99,911 | ) | | | (38,388 | ) | | | (1,595,902 | ) | | | 1,785,252 | | | | (75,115 | ) |
Interest income and other, net | | | 4,941 | | | | 42,205 | | | | (7 | ) | | | 129,601 | | | | 1,537,410 | | | | 72,285 | | | | (1,785,252 | ) | | | 1,183 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Income before income taxes | | | 676,019 | | | | 505,544 | | | | 57,853 | | | | 725,931 | | | | 321,064 | | | | (631,209 | ) | | | (801,090 | ) | | | 854,112 | |
Income tax provision | | | — | | | | (41,278 | ) | | | — | | | | — | | | | — | | | | (83,954 | ) | | | — | | | | (125,232 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Net Income | | | 676,019 | | | | 464,266 | | | | 57,853 | | | | 725,931 | | | | 321,064 | | | | (715,163 | ) | | | (801,090 | ) | | | 728,880 | |
Net income attributable to noncontrolling interests | | | — | | | | — | | | | — | | | | — | | | | — | | | | (88,725 | ) | | | 35,864 | | | | (52,861 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Net income attributable to Noble Corporation | | | 676,019 | | | | 464,266 | | | | 57,853 | | | | 725,931 | | | | 321,064 | | | | (803,888 | ) | | | (765,226 | ) | | | 676,019 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Other comprehensive income, net | | | 4,866 | | | | — | | | | — | | | | — | | | | — | | | | 4,866 | | | | (4,866 | ) | | | 4,866 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Comprehensive income attributable to Noble Corporation | | $ | 680,885 | | | $ | 464,266 | | | $ | 57,853 | | | $ | 725,931 | | | $ | 321,064 | | | $ | (799,022 | ) | | $ | (770,092 | ) | | $ | 680,885 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
|
NOBLE CORPORATION (NOBLE-CAYMAN) AND SUBSIDIARIES |
CONDENSED CONSOLIDATING STATEMENT OF INCOME |
Three Months Ended September 30, 2012 |
(in thousands) |
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | Noble- | | | NHC and NDH | | | NDC | | | NHIL | | | NDS6 | | | Other | | | Consolidating | | | Total | |
Cayman | Combined | Non-guarantor | Adjustments |
| | Subsidiaries | |
| | of Noble | |
Operating revenues | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Contract drilling services | | $ | — | | | $ | 36,149 | | | $ | 5,061 | | | $ | — | | | $ | — | | | $ | 809,858 | | | $ | (17,856 | ) | | $ | 833,212 | |
Reimbursables | | | — | | | | 389 | | | | — | | | | — | | | | — | | | | 27,748 | | | | — | | | | 28,137 | |
Labor contract drilling services | | | — | | | | — | | | | — | | | | — | | | | — | | | | 22,667 | | | | — | | | | 22,667 | |
Other | | | — | | | | — | | | | — | | | | — | | | | — | | | | 16 | | | | — | | | | 16 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Total operating revenues | | | — | | | | 36,538 | | | | 5,061 | | | | — | | | | — | | | | 860,289 | | | | (17,856 | ) | | | 884,032 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Operating costs and expenses | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Contract drilling services | | | 1,355 | | | | 13,948 | | | | 1,919 | | | | 19,636 | | | | — | | | | 425,223 | | | | (17,856 | ) | | | 444,225 | |
Reimbursables | | | — | | | | 216 | | | | — | | | | — | | | | — | | | | 20,831 | | | | — | | | | 21,047 | |
Labor contract drilling services | | | — | | | | — | | | | — | | | | — | | | | — | | | | 12,991 | | | | — | | | | 12,991 | |
Depreciation and amortization | | | — | | | | 15,500 | | | | 1,181 | | | | — | | | | — | | | | 177,914 | | | | — | | | | 194,595 | |
General and administrative | | | 426 | | | | 1,447 | | | | — | | | | 9,700 | | | | 1 | | | | 3,913 | | | | — | | | | 15,487 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Total operating costs and expenses | | | 1,781 | | | | 31,111 | | | | 3,100 | | | | 29,336 | | | | 1 | | | | 640,872 | | | | (17,856 | ) | | | 688,345 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Operating income (loss) | | | (1,781 | ) | | | 5,427 | | | | 1,961 | | | | (29,336 | ) | | | (1 | ) | | | 219,417 | | | | — | | | | 195,687 | |
Other income (expense) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Equity earnings in affiliates, net of tax | | | 162,311 | | | | 69,069 | | | | 36,463 | | | | 172,364 | | | | 129,161 | | | | — | | | | (569,368 | ) | | | — | |
Interest expense, net of amounts capitalized | | | (30,496 | ) | | | (8,964 | ) | | | (852 | ) | | | (33,509 | ) | | | (11,832 | ) | | | (20,221 | ) | | | 80,239 | | | | (25,635 | ) |
Interest income and other, net | | | 1,689 | | | | 11,080 | | | | 9 | | | | 37,430 | | | | 2,846 | | | | 28,546 | | | | (80,239 | ) | | | 1,361 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Income before income taxes | | | 131,723 | | | | 76,612 | | | | 37,581 | | | | 146,949 | | | | 120,174 | | | | 227,742 | | | | (569,368 | ) | | | 171,413 | |
Income tax provision | | | — | | | | (8,639 | ) | | | — | | | | — | | | | — | | | | (16,145 | ) | | | — | | | | (24,784 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Net Income | | | 131,723 | | | | 67,973 | | | | 37,581 | | | | 146,949 | | | | 120,174 | | | | 211,597 | | | | (569,368 | ) | | | 146,629 | |
Net income attributable to noncontrolling interests | | | — | | | | — | | | | — | | | | — | | | | — | | | | (22,246 | ) | | | 7,340 | | | | (14,906 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Net income attributable to Noble Corporation | | | 131,723 | | | | 67,973 | | | | 37,581 | | | | 146,949 | | | | 120,174 | | | | 189,351 | | | | (562,028 | ) | | | 131,723 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Other comprehensive income, net | | | 3,384 | | | | — | | | | — | | | | — | | | | — | | | | 3,384 | | | | (3,384 | ) | | | 3,384 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Comprehensive income attributable to Noble Corporation | | $ | 135,107 | | | $ | 67,973 | | | $ | 37,581 | | | $ | 146,949 | | | $ | 120,174 | | | $ | 192,735 | | | $ | (565,412 | ) | | $ | 135,107 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
|
NOBLE CORPORATION (NOBLE-CAYMAN) AND SUBSIDIARIES |
CONDENSED CONSOLIDATING STATEMENT OF INCOME |
Nine Months Ended September 30, 2012 |
(in thousands) |
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | Noble- | | | NHC and NDH | | | NDC | | | NHIL | | | NDS6 | | | Other | | | Consolidating | | | Total | |
Cayman | Combined | Non-guarantor | Adjustments |
| | Subsidiaries | |
| | of Noble | |
Operating revenues | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Contract drilling services | | $ | — | | | $ | 117,488 | | | $ | 14,941 | | | $ | — | | | $ | — | | | $ | 2,352,618 | | | $ | (57,288 | ) | | $ | 2,427,759 | |
Reimbursables | | | — | | | | 6,199 | | | | — | | | | — | | | | — | | | | 87,891 | | | | — | | | | 94,090 | |
Labor contract drilling services | | | — | | | | — | | | | — | | | | — | | | | — | | | | 58,538 | | | | — | | | | 58,538 | |
Other | | | — | | | | — | | | | — | | | | — | | | | — | | | | 1,190 | | | | (932 | ) | | | 258 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Total operating revenues | | | — | | | | 123,687 | | | | 14,941 | | | | — | | | | — | | | | 2,500,237 | | | | (58,220 | ) | | | 2,580,645 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Operating costs and expenses | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Contract drilling services | | | 3,794 | | | | 42,642 | | | | 5,529 | | | | 56,048 | | | | — | | | | 1,231,176 | | | | (58,220 | ) | | | 1,280,969 | |
Reimbursables | | | — | | | | 5,641 | | | | — | | | | — | | | | — | | | | 70,977 | | | | — | | | | 76,618 | |
Labor contract drilling services | | | — | | | | — | | | | — | | | | — | | | | — | | | | 34,070 | | | | — | | | | 34,070 | |
Depreciation and amortization | | | — | | | | 45,577 | | | | 3,278 | | | | — | | | | — | | | | 499,416 | | | | — | | | | 548,271 | |
General and administrative | | | 1,237 | | | | 4,258 | | | | — | | | | 28,137 | | | | 1 | | | | 11,331 | | | | — | | | | 44,964 | |
Loss on impairment | | | — | | | | — | | | | — | | | | — | | | | — | | | | 18,345 | | | | — | | | | 18,345 | |
Gain on contract settlements/extinguishments, net | | | — | | | | (4,869 | ) | | | — | | | | — | | | | — | | | | (28,386 | ) | | | — | | | | (33,255 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Total operating costs and expenses | | | 5,031 | | | | 93,249 | | | | 8,807 | | | | 84,185 | | | | 1 | | | | 1,836,929 | | | | (58,220 | ) | | | 1,969,982 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Operating income (loss) | | | (5,031 | ) | | | 30,438 | | | | 6,134 | | | | (84,185 | ) | | | (1 | ) | | | 663,308 | | | | — | | | | 610,663 | |
Other income (expense) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Equity earnings in affiliates, net of tax | | | 515,132 | | | | 358,234 | | | | 92,343 | | | | 583,122 | | | | 274,564 | | | | — | | | | (1,823,395 | ) | | | — | |
Interest expense, net of amounts capitalized | | | (76,396 | ) | | | (37,881 | ) | | | (3,040 | ) | | | (83,975 | ) | | | (31,020 | ) | | | (60,193 | ) | | | 235,722 | | | | (56,783 | ) |
Interest income and other, net | | | 5,640 | | | | 29,771 | | | | 4 | | | | 99,609 | | | | 8,771 | | | | 96,295 | | | | (235,722 | ) | | | 4,368 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Income before income taxes | | | 439,345 | | | | 380,562 | | | | 95,441 | | | | 514,571 | | | | 252,314 | | | | 699,410 | | | | (1,823,395 | ) | | | 558,248 | |
Income tax provision | | | — | | | | (30,902 | ) | | | — | | | | — | | | | — | | | | (61,070 | ) | | | — | | | | (91,972 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Net Income | | | 439,345 | | | | 349,660 | | | | 95,441 | | | | 514,571 | | | | 252,314 | | | | 638,340 | | | | (1,823,395 | ) | | | 466,276 | |
Net income attributable to noncontrolling interests | | | — | | | | — | | | | — | | | | — | | | | — | | | | (52,643 | ) | | | 25,712 | | | | (26,931 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Net income attributable to Noble Corporation | | | 439,345 | | | | 349,660 | | | | 95,441 | | | | 514,571 | | | | 252,314 | | | | 585,697 | | | | (1,797,683 | ) | | | 439,345 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Other comprehensive income, net | | | 2,244 | | | | — | | | | — | | | | — | | | | — | | | | 2,244 | | | | (2,244 | ) | | | 2,244 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Comprehensive income attributable to Noble Corporation | | $ | 441,589 | | | $ | 349,660 | | | $ | 95,441 | | | $ | 514,571 | | | $ | 252,314 | | | $ | 587,941 | | | $ | (1,799,927 | ) | | $ | 441,589 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
|
NOBLE CORPORATION (NOBLE-CAYMAN) AND SUBSIDIARIES |
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS |
Nine Months Ended September 30, 2013 |
(in thousands) |
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | Noble- | | | NHC and NDH | | | NDC | | | NHIL | | | NDS6 | | | Other | | | Consolidating | | | Total | |
Cayman | Combined | Non-guarantor | Adjustments |
| | Subsidiaries | |
| | of Noble | |
Cash flows from operating activities | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Net cash from operating activities | | $ | (79,174 | ) | | $ | 46,344 | | | $ | 8,285 | | | $ | (113,088 | ) | | $ | 1,495,330 | | | $ | (144,753 | ) | | $ | — | | | $ | 1,212,944 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Cash flows from investing activities | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
New construction and capital expenditures | | | — | | | | (1,070,669 | ) | | | (559 | ) | | | — | | | | — | | | | (719,659 | ) | | | — | | | | (1,790,887 | ) |
Proceeds from disposal of assets | | | — | | | | — | | | | — | | | | — | | | | — | | | | 61,000 | | | | — | | | | 61,000 | |
Notes receivable from affiliates | | | — | | | | — | | | | — | | | | — | | | | — | | | | 294,798 | | | | (294,798 | ) | | | — | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Net cash from investing activities | | | — | | | | (1,070,669 | ) | | | (559 | ) | | | — | | | | — | | | | (363,861 | ) | | | (294,798 | ) | | | (1,729,887 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Cash flows from financing activities | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Net change in borrowings outstanding on bank credit facilities | | | 973,055 | | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | | | | 973,055 | |
Repayment of long-term debt | | | (300,000 | ) | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | | | | (300,000 | ) |
Financing costs on credit facilities | | | (2,432 | ) | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | | | | (2,432 | ) |
Dividends paid to joint venture partner | | | — | | | | — | | | | — | | | | — | | | | — | | | | (69,728 | ) | | | — | | | | (69,728 | ) |
Distributions to parent company, net | | | (187,610 | ) | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | | | | (187,610 | ) |
Advances (to) from affiliates | | | (110,039 | ) | | | 1,023,544 | | | | (7,726 | ) | | | 113,094 | | | | (1,495,330 | ) | | | 476,457 | | | | — | | | | — | |
Notes payable to affiliates | | | (294,798 | ) | | | — | | | | — | | | | — | | | | — | | | | — | | | | 294,798 | | | | — | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Net cash from financing activities | | | 78,176 | | | | 1,023,544 | | | | (7,726 | ) | | | 113,094 | | | | (1,495,330 | ) | | | 406,729 | | | | 294,798 | | | | 413,285 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Net change in cash and cash equivalents | | | (998 | ) | | | (781 | ) | | | — | | | | 6 | | | | — | | | | (101,885 | ) | | | — | | | | (103,658 | ) |
Cash and cash equivalents, beginning of period | | | 1,003 | | | | 904 | | | | — | | | | 2 | | | | — | | | | 275,466 | | | | — | | | | 277,375 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Cash and cash equivalents, end of period | | $ | 5 | | | $ | 123 | | | $ | — | | | $ | 8 | | | $ | — | | | $ | 173,581 | | | $ | — | | | $ | 173,717 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
|
NOBLE CORPORATION (NOBLE-CAYMAN) AND SUBSIDIARIES |
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS |
Nine Months Ended September 30, 2012 |
(in thousands) |
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | Noble- | | | NHC and NDH | | | NDC | | | NHIL | | | NDS6 | | | Other | | | Consolidating | | | Total | |
Cayman | Combined | Non-guarantor | Adjustments |
| | Subsidiaries | |
| | of Noble | |
Cash flows from operating activities | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Net cash from operating activities | | $ | (59,614 | ) | | $ | 7,563 | | | $ | 8,989 | | | $ | (107,638 | ) | | $ | (25,942 | ) | | $ | 1,133,499 | | | $ | — | | | $ | 956,857 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Cash flows from investing activities | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
New construction and capital expenditures | | | — | | | | (499,141 | ) | | | (1,040 | ) | | | — | | | | — | | | | (940,534 | ) | | | — | | | | (1,440,715 | ) |
Notes receivable from affiliates | | | — | | | | — | | | | — | | | | (1,188,287 | ) | | | — | | | | — | | | | 1,188,287 | | | | — | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Net cash from investing activities | | | — | | | | (499,141 | ) | | | (1,040 | ) | | | (1,188,287 | ) | | | — | | | | (940,534 | ) | | | 1,188,287 | | | | (1,440,715 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Cash flows from financing activities | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Net change in borrowings outstanding on bank credit facilities | | | (630,000 | ) | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | | | | (630,000 | ) |
Proceeds from issuance of senior notes, net | | | — | | | | — | | | | — | | | | 1,186,636 | | | | — | | | | — | | | | — | | | | 1,186,636 | |
Contributions from joint venture partner | | | — | | | | — | | | | — | | | | — | | | | — | | | | 40,000 | | | | — | | | | 40,000 | |
Financing costs on credit facilities | | | (5,014 | ) | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | | | | (5,014 | ) |
Distributions to parent company, net | | | (129,139 | ) | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | | | | (129,139 | ) |
Advances (to) from affiliates | | | (364,666 | ) | | | 491,628 | | | | (7,949 | ) | | | 109,308 | | | | 25,942 | | | | (254,263 | ) | | | — | | | | — | |
Notes payable to affiliates | | | 1,188,287 | | | | — | | | | — | | | | — | | | | — | | | | — | | | | (1,188,287 | ) | | | — | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Net cash from financing activities | | | 59,468 | | | | 491,628 | | | | (7,949 | ) | | | 1,295,944 | | | | 25,942 | | | | (214,263 | ) | | | (1,188,287 | ) | | | 462,483 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Net change in cash and cash equivalents | | | (146 | ) | | | 50 | | | | — | | | | 19 | | | | — | | | | (21,298 | ) | | | — | | | | (21,375 | ) |
Cash and cash equivalents, beginning of period | | | 146 | | | | 385 | | | | — | | | | — | | | | — | | | | 234,525 | | | | — | | | | 235,056 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Cash and cash equivalents, end of period | | $ | — | | | $ | 435 | | | $ | — | | | $ | 19 | | | $ | — | | | $ | 213,227 | | | $ | — | | | $ | 213,681 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |