Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | ||
In Billions, except Share data, unless otherwise specified | Dec. 31, 2013 | Feb. 14, 2014 | Jun. 28, 2013 |
Document Information [Line Items] | ' | ' | ' |
Document Type | '10-K | ' | ' |
Amendment Flag | 'false | ' | ' |
Document Period End Date | 31-Dec-13 | ' | ' |
Document Fiscal Year Focus | '2013 | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Entity Registrant Name | 'Noble Corp plc | ' | ' |
Entity Central Index Key | '0001458891 | ' | ' |
Current Fiscal Year End Date | '--12-31 | ' | ' |
Entity Well-known Seasoned Issuer | 'Yes | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Entity Filer Category | 'Large Accelerated Filer | ' | ' |
Entity Common Stock, Shares Outstanding | ' | 254,138,833 | ' |
Entity Public Float | ' | ' | $9.50 |
Noble-Cayman [Member] | ' | ' | ' |
Document Information [Line Items] | ' | ' | ' |
Entity Filer Category | 'Non-accelerated Filer | ' | ' |
Entity Common Stock, Shares Outstanding | ' | 261,245,693 | ' |
Consolidated_Balance_Sheet
Consolidated Balance Sheet (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Current assets | ' | ' |
Cash and cash equivalents | $114,458 | $282,092 |
Accounts receivable | 949,069 | 743,673 |
Taxes receivable | 140,269 | 112,423 |
Prepaid expenses and other current assets | 187,139 | 167,137 |
Total current assets | 1,390,935 | 1,305,325 |
Property and equipment, at cost | 19,198,767 | 16,971,666 |
Accumulated depreciation | -4,640,677 | -3,945,694 |
Property and equipment, net | 14,558,090 | 13,025,972 |
Other assets | 268,932 | 276,477 |
Total assets | 16,217,957 | 14,607,774 |
Current liabilities | ' | ' |
Accounts payable | 347,214 | 350,147 |
Accrued payroll and related costs | 151,161 | 132,728 |
Taxes payable | 125,119 | 135,257 |
Dividends payable | 128,249 | 66,369 |
Other current liabilities | 300,172 | 226,948 |
Total current liabilities | 1,051,915 | 911,449 |
Long-term debt | 5,556,251 | 4,634,375 |
Deferred income taxes | 225,455 | 226,045 |
Other liabilities | 334,308 | 347,615 |
Total liabilities | 7,167,929 | 6,119,484 |
Commitments and contingencies | ' | ' |
Equity | ' | ' |
Shares | 2,534 | 710,130 |
Treasury shares | ' | -21,069 |
Additional paid-in capital | 810,286 | 83,531 |
Retained earnings | 7,591,927 | 7,066,023 |
Accumulated other comprehensive loss | -82,164 | -115,449 |
Total shareholders' equity | 8,322,583 | 7,723,166 |
Noncontrolling interests | 727,445 | 765,124 |
Total equity | 9,050,028 | 8,488,290 |
Total liabilities and equity | 16,217,957 | 14,607,774 |
Noble-Cayman [Member] | ' | ' |
Current assets | ' | ' |
Cash and cash equivalents | 110,382 | 277,375 |
Accounts receivable | 949,069 | 743,673 |
Taxes receivable | 140,029 | 112,310 |
Prepaid expenses and other current assets | 184,348 | 163,881 |
Total current assets | 1,383,828 | 1,297,239 |
Property and equipment, at cost | 19,160,350 | 16,935,147 |
Accumulated depreciation | -4,631,678 | -3,938,518 |
Property and equipment, net | 14,528,672 | 12,996,629 |
Other assets | 269,014 | 276,558 |
Total assets | 16,181,514 | 14,570,426 |
Current liabilities | ' | ' |
Accounts payable | 345,910 | 349,594 |
Accrued payroll and related costs | 143,346 | 123,936 |
Taxes payable | 120,588 | 130,844 |
Other current liabilities | 300,172 | 226,935 |
Total current liabilities | 910,016 | 831,309 |
Long-term debt | 5,556,251 | 4,634,375 |
Deferred income taxes | 225,455 | 226,045 |
Other liabilities | 334,308 | 347,615 |
Total liabilities | 7,026,030 | 6,039,344 |
Commitments and contingencies | ' | ' |
Equity | ' | ' |
Shares | 26,125 | 26,125 |
Additional paid-in capital | 497,316 | 470,454 |
Retained earnings | 7,986,762 | 7,384,828 |
Accumulated other comprehensive loss | -82,164 | -115,449 |
Total shareholders' equity | 8,428,039 | 7,765,958 |
Noncontrolling interests | 727,445 | 765,124 |
Total equity | 9,155,484 | 8,531,082 |
Total liabilities and equity | $16,181,514 | $14,570,426 |
Consolidated_Statements_of_Inc
Consolidated Statements of Income (USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Operating revenues | ' | ' | ' |
Contract drilling services | $4,070,070 | $3,349,362 | $2,556,758 |
Reimbursables | 111,874 | 115,495 | 79,195 |
Labor contract drilling services | 52,241 | 81,890 | 59,004 |
Other | 105 | 265 | 875 |
Total operating revenues | 4,234,290 | 3,547,012 | 2,695,832 |
Operating costs and expenses | ' | ' | ' |
Contract drilling services | 2,014,217 | 1,769,428 | 1,384,200 |
Reimbursables | 85,548 | 94,096 | 58,439 |
Labor contract drilling services | 36,604 | 46,752 | 33,885 |
Depreciation and amortization | 879,422 | 758,621 | 658,640 |
General and administrative | 117,997 | 99,990 | 91,377 |
Incremental spin-off related costs | 17,702 | 7,196 | ' |
Loss on impairment | 43,688 | 20,384 | ' |
Gain on disposal of assets, net | -35,646 | ' | ' |
Gain on contract settlements/extinguishments, net | -46,800 | -33,255 | -21,202 |
Total operating costs and expenses | 3,112,732 | 2,763,212 | 2,205,339 |
Operating income | 1,121,558 | 783,800 | 490,493 |
Other income (expense) | ' | ' | ' |
Interest expense, net of amount capitalized | -106,300 | -85,763 | -55,727 |
Interest income and other, net | 2,754 | 5,188 | 1,484 |
Income before income taxes | 1,018,012 | 703,225 | 436,250 |
Income tax provision | -167,606 | -147,088 | -72,625 |
Net income | 850,406 | 556,137 | 363,625 |
Net loss (income) attributable to noncontrolling interests | -67,709 | -33,793 | 7,273 |
Net income attributable to Noble Corporation | 782,697 | 522,344 | 370,898 |
Net income per share attributable to Noble Corporation | ' | ' | ' |
Basic | $3.05 | $2.05 | $1.46 |
Diluted | $3.05 | $2.05 | $1.46 |
Weighted-Average Shares Outstanding: | ' | ' | ' |
Basic | 253,288 | 252,435 | 251,405 |
Diluted | 253,547 | 252,791 | 251,989 |
Noble-Cayman [Member] | ' | ' | ' |
Operating revenues | ' | ' | ' |
Contract drilling services | 4,070,070 | 3,349,362 | 2,556,758 |
Reimbursables | 111,874 | 115,495 | 79,195 |
Labor contract drilling services | 52,241 | 81,890 | 59,004 |
Other | 105 | 265 | 875 |
Total operating revenues | 4,234,290 | 3,547,012 | 2,695,832 |
Operating costs and expenses | ' | ' | ' |
Contract drilling services | 2,004,624 | 1,760,965 | 1,371,415 |
Reimbursables | 85,548 | 94,096 | 58,439 |
Labor contract drilling services | 36,604 | 46,895 | 33,885 |
Depreciation and amortization | 877,250 | 756,689 | 657,205 |
General and administrative | 64,859 | 59,366 | 56,787 |
Loss on impairment | 43,688 | 20,384 | ' |
Gain on disposal of assets, net | -35,646 | ' | ' |
Gain on contract settlements/extinguishments, net | -46,800 | -33,255 | -21,202 |
Total operating costs and expenses | 3,030,127 | 2,705,140 | 2,156,529 |
Operating income | 1,204,163 | 841,872 | 539,303 |
Other income (expense) | ' | ' | ' |
Interest expense, net of amount capitalized | -106,300 | -85,763 | -55,727 |
Interest income and other, net | 2,126 | 4,695 | 2,480 |
Income before income taxes | 1,099,989 | 760,804 | 486,056 |
Income tax provision | -164,466 | -146,088 | -71,286 |
Net income | 935,523 | 614,716 | 414,770 |
Net loss (income) attributable to noncontrolling interests | -67,709 | -33,793 | 7,273 |
Net income attributable to Noble Corporation | $867,814 | $580,923 | $422,043 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Net income | $850,406 | $556,137 | $363,625 |
Other comprehensive income (loss), net of tax | ' | ' | ' |
Foreign currency translation adjustments | -3,188 | -8,076 | -2,566 |
Net pension plan gain (loss) (net of tax provision (benefit) of $14,155 in 2013, ($3,777) in 2012 and ($12,845) in 2011) | 29,861 | -41,658 | -18,551 |
Amortization of deferred pension plan amounts (net of tax provision of $2,924 in 2013, $2,841 in 2012 and $1,146 in 2011) | 6,612 | 5,545 | 2,047 |
Other comprehensive income (loss), net | 33,285 | -41,128 | -24,101 |
Total comprehensive income | 883,691 | 515,009 | 339,524 |
Net comprehensive loss (income) attributable to noncontrolling interests | -67,709 | -33,793 | 7,273 |
Noncontrolling portion of gain on interest rate swaps | ' | ' | 183 |
Comprehensive income attributable to Noble Corporation | 815,982 | 481,216 | 346,980 |
Foreign Exchange Forward [Member] | ' | ' | ' |
Other comprehensive income (loss), net of tax | ' | ' | ' |
Gain (loss) from derivatives instruments designated | ' | 3,061 | -4,665 |
Interest Rate Swaps [Member] | ' | ' | ' |
Other comprehensive income (loss), net of tax | ' | ' | ' |
Gain (loss) from derivatives instruments designated | ' | ' | -366 |
Noble-Cayman [Member] | ' | ' | ' |
Net income | 935,523 | 614,716 | 414,770 |
Other comprehensive income (loss), net of tax | ' | ' | ' |
Foreign currency translation adjustments | -3,188 | -8,076 | -2,566 |
Net pension plan gain (loss) (net of tax provision (benefit) of $14,155 in 2013, ($3,777) in 2012 and ($12,845) in 2011) | 29,861 | -41,658 | -18,551 |
Amortization of deferred pension plan amounts (net of tax provision of $2,924 in 2013, $2,841 in 2012 and $1,146 in 2011) | 6,612 | 5,545 | 2,047 |
Other comprehensive income (loss), net | 33,285 | -41,128 | -24,101 |
Total comprehensive income | 968,808 | 573,588 | 390,669 |
Net comprehensive loss (income) attributable to noncontrolling interests | -67,709 | -33,793 | 7,273 |
Noncontrolling portion of gain on interest rate swaps | ' | ' | 183 |
Comprehensive income attributable to Noble Corporation | 901,099 | 539,795 | 398,125 |
Noble-Cayman [Member] | Foreign Exchange Forward [Member] | ' | ' | ' |
Other comprehensive income (loss), net of tax | ' | ' | ' |
Gain (loss) from derivatives instruments designated | ' | 3,061 | -4,665 |
Noble-Cayman [Member] | Interest Rate Swaps [Member] | ' | ' | ' |
Other comprehensive income (loss), net of tax | ' | ' | ' |
Gain (loss) from derivatives instruments designated | ' | ' | ($366) |
Consolidated_Statements_of_Com1
Consolidated Statements of Comprehensive Income (Parenthetical) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Net pension plan gain (loss), tax provision (benefit) | $14,155 | ($3,777) | ($12,845) |
Amortization of deferred pension plan, tax provision | 2,924 | 2,841 | 1,146 |
Noble-Cayman [Member] | ' | ' | ' |
Net pension plan gain (loss), tax provision (benefit) | 14,155 | -3,777 | -12,845 |
Amortization of deferred pension plan, tax provision | $2,924 | $2,841 | $1,146 |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Cash flows from operating activities | ' | ' | ' |
Net income | $850,406 | $556,137 | $363,625 |
Adjustments to reconcile net income to net cash from operating activities: | ' | ' | ' |
Depreciation and amortization | 879,422 | 758,621 | 658,640 |
Loss on impairment | 43,688 | 20,384 | ' |
Gain on disposal of assets, net | -35,646 | ' | ' |
Gain on contract extinguishments, net | ' | ' | -21,202 |
Deferred income taxes | -15,955 | -20,119 | -82,325 |
Amortization of share-based compensation | 43,620 | 35,930 | 31,904 |
Net change in other assets and liabilities | -63,218 | 30,740 | -210,402 |
Net cash from operating activities | 1,702,317 | 1,381,693 | 740,240 |
Cash flows from investing activities | ' | ' | ' |
Capital expenditures | -2,487,520 | -1,669,811 | -2,621,235 |
Change in accrued capital expenditures | -58,587 | -121,077 | 81,047 |
Refund from contract extinguishments | ' | ' | 18,642 |
Proceeds from disposal of assets | 61,000 | ' | ' |
Net cash from investing activities | -2,485,107 | -1,790,888 | -2,521,546 |
Cash flows from financing activities | ' | ' | ' |
Net change in borrowings outstanding on bank credit facilities | 1,221,333 | -635,192 | 935,000 |
Repayment of long-term debt | -300,000 | ' | ' |
Proceeds from issuance of senior notes, net of debt issuance costs | ' | 1,186,636 | 1,087,833 |
Dividends paid to noncontrolling interests | -105,388 | ' | ' |
Contributions from noncontrolling interests | ' | 40,000 | 536,000 |
Payments of joint venture debt | ' | ' | -693,494 |
Settlement of interest rate swaps | ' | ' | -29,032 |
Financing costs on credit facilities | -2,484 | -5,221 | -2,835 |
Proceeds from employee stock transactions | 4,261 | 14,677 | 9,924 |
Repurchases of employee shares surrendered for taxes | -7,653 | -10,516 | -10,233 |
Par value reduction/dividend payments | -194,913 | -138,293 | -150,532 |
Net cash from financing activities | 615,156 | 452,091 | 1,682,631 |
Net change in cash and cash equivalents | -167,634 | 42,896 | -98,675 |
Cash and cash equivalents, beginning of period | 282,092 | 239,196 | 337,871 |
Cash and cash equivalents, end of period | 114,458 | 282,092 | 239,196 |
Noble-Cayman [Member] | ' | ' | ' |
Cash flows from operating activities | ' | ' | ' |
Net income | 935,523 | 614,716 | 414,770 |
Adjustments to reconcile net income to net cash from operating activities: | ' | ' | ' |
Depreciation and amortization | 877,250 | 756,689 | 657,205 |
Loss on impairment | 43,688 | 20,384 | ' |
Gain on disposal of assets, net | -35,646 | ' | ' |
Gain on contract extinguishments, net | ' | ' | -21,202 |
Deferred income taxes | -15,955 | -20,119 | -82,325 |
Capital contribution by parent-share-based compensation | 26,862 | 19,838 | 18,726 |
Net change in other assets and liabilities | -63,092 | 29,119 | -216,687 |
Net cash from operating activities | 1,768,630 | 1,420,627 | 770,487 |
Cash flows from investing activities | ' | ' | ' |
Capital expenditures | -2,485,617 | -1,667,477 | -2,615,943 |
Change in accrued capital expenditures | -58,587 | -121,077 | 81,047 |
Refund from contract extinguishments | ' | ' | 18,642 |
Proceeds from disposal of assets | 61,000 | ' | ' |
Net cash from investing activities | -2,483,204 | -1,788,554 | -2,516,254 |
Cash flows from financing activities | ' | ' | ' |
Net change in borrowings outstanding on bank credit facilities | 1,221,333 | -635,192 | 935,000 |
Repayment of long-term debt | -300,000 | ' | ' |
Proceeds from issuance of senior notes, net of debt issuance costs | ' | 1,186,636 | 1,087,833 |
Dividends paid to noncontrolling interests | -105,388 | ' | ' |
Contributions from noncontrolling interests | ' | 40,000 | 536,000 |
Payments of joint venture debt | ' | ' | -693,494 |
Settlement of interest rate swaps | ' | ' | -29,032 |
Financing costs on credit facilities | -2,484 | -5,221 | -2,835 |
Distributions to parent company, net | -265,880 | -175,977 | -186,048 |
Net cash from financing activities | 547,581 | 410,246 | 1,647,424 |
Net change in cash and cash equivalents | -166,993 | 42,319 | -98,343 |
Cash and cash equivalents, beginning of period | 277,375 | 235,056 | 333,399 |
Cash and cash equivalents, end of period | $110,382 | $277,375 | $235,056 |
Consolidated_Statements_of_Equ
Consolidated Statements of Equity (USD $) | Total | Noble-Cayman [Member] | Shares [Member] | Shares [Member] | Capital in Excess of Par Value [Member] | Capital in Excess of Par Value [Member] | Retained Earnings [Member] | Retained Earnings [Member] | Treasury Shares [Member] | Noncontrolling Interests [Member] | Noncontrolling Interests [Member] | Accumulated Other Comprehensive Loss [Member] | Accumulated Other Comprehensive Loss [Member] |
In Thousands, except Share data, unless otherwise specified | Noble-Cayman [Member] | Noble-Cayman [Member] | Noble-Cayman [Member] | Noble-Cayman [Member] | Noble-Cayman [Member] | ||||||||
Beginning Balance at Dec. 31, 2010 | $7,287,634 | $7,260,655 | $917,684 | $26,125 | $39,006 | $416,232 | $6,630,500 | $6,743,887 | ($373,967) | $124,631 | $124,631 | ($50,220) | ($50,220) |
Beginning Balance, (Shares) at Dec. 31, 2010 | ' | ' | 262,415,000 | 261,246,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Employee related equity activity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amortization of share-based compensation | 31,904 | ' | ' | ' | 31,904 | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of share-based compensation shares | 10 | ' | 848 | ' | -838 | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of share-based compensation shares, Shares | ' | ' | 252,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exercise of stock options | 8,964 | ' | 1,661 | ' | 7,303 | ' | ' | ' | ' | ' | ' | ' | ' |
Exercise of stock options, Shares | 506,149 | ' | 501,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Tax benefit of stock options exercised | 950 | ' | ' | ' | 950 | ' | ' | ' | ' | ' | ' | ' | ' |
Restricted shares forfeited or repurchased for taxes | -10,233 | ' | -1,401 | ' | 1,401 | ' | ' | ' | -10,233 | ' | ' | ' | ' |
Restricted shares forfeited or repurchased for taxes, Shares | ' | ' | -413,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Distributions to parent | ' | -186,048 | ' | ' | ' | ' | ' | -186,048 | ' | ' | ' | ' | ' |
Capital contributions by parent-Share-based compensation | ' | 18,726 | ' | ' | ' | 18,726 | ' | ' | ' | ' | ' | ' | ' |
Retirement of treasury shares | ' | ' | -33,035 | ' | ' | ' | -340,612 | ' | 373,647 | ' | ' | ' | ' |
Retirement of treasury shares, Shares | ' | ' | -10,116,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Settlement of FIN 48 provision | 15,658 | 15,658 | ' | ' | ' | 15,658 | 15,658 | ' | ' | ' | ' | ' | ' |
Net income | 363,625 | 414,770 | ' | ' | ' | ' | 370,898 | 422,043 | ' | -7,273 | -7,273 | ' | ' |
Contributions from noncontrolling interests | 573,973 | ' | ' | ' | ' | ' | ' | ' | ' | 573,973 | ' | ' | ' |
Contributions from noncontrolling interests | ' | 573,973 | ' | ' | ' | ' | ' | ' | ' | ' | 573,973 | ' | ' |
Par value reduction payments | -150,532 | ' | -119,162 | ' | -31,370 | ' | ' | ' | ' | ' | ' | ' | ' |
Other comprehensive income, net | -24,101 | -24,101 | ' | ' | ' | ' | ' | ' | ' | ' | ' | -24,101 | -24,101 |
Ending Balance at Dec. 31, 2011 | 8,097,852 | 8,073,633 | 766,595 | 26,125 | 48,356 | 450,616 | 6,676,444 | 6,979,882 | -10,553 | 691,331 | 691,331 | -74,321 | -74,321 |
Ending Balance (Shares) at Dec. 31, 2011 | ' | ' | 252,639,000 | 261,246,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Employee related equity activity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amortization of share-based compensation | 35,930 | ' | ' | ' | 35,930 | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of share-based compensation shares | 8 | ' | 1,307 | ' | -1,299 | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of share-based compensation shares, Shares | ' | ' | 437,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exercise of stock options | 13,541 | ' | 1,836 | ' | 11,705 | ' | ' | ' | ' | ' | ' | ' | ' |
Exercise of stock options, Shares | 645,731 | ' | 646,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Tax benefit of stock options exercised | 1,128 | ' | ' | ' | 1,128 | ' | ' | ' | ' | ' | ' | ' | ' |
Restricted shares forfeited or repurchased for taxes | -10,516 | ' | -1,138 | ' | 1,138 | ' | ' | ' | -10,516 | ' | ' | ' | ' |
Restricted shares forfeited or repurchased for taxes, Shares | ' | ' | -374,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Distributions to parent | -132,765 | -175,977 | ' | ' | ' | ' | -132,765 | -175,977 | ' | ' | ' | ' | ' |
Capital contributions by parent-Share-based compensation | ' | 19,838 | ' | ' | ' | 19,838 | ' | ' | ' | ' | ' | ' | ' |
Net income | 556,137 | 614,716 | ' | ' | ' | ' | 522,344 | 580,923 | ' | 33,793 | 33,793 | ' | ' |
Contributions from noncontrolling interests | 40,000 | ' | ' | ' | ' | ' | ' | ' | ' | 40,000 | ' | ' | ' |
Contributions from noncontrolling interests | ' | 40,000 | ' | ' | ' | ' | ' | ' | ' | ' | 40,000 | ' | ' |
Par value reduction payments | -71,897 | ' | -58,470 | ' | -13,427 | ' | ' | ' | ' | ' | ' | ' | ' |
Other comprehensive income, net | -41,128 | -41,128 | ' | ' | ' | ' | ' | ' | ' | ' | ' | -41,128 | -41,128 |
Ending Balance at Dec. 31, 2012 | 8,488,290 | 8,531,082 | 710,130 | 26,125 | 83,531 | 470,454 | 7,066,023 | 7,384,828 | -21,069 | 765,124 | 765,124 | -115,449 | -115,449 |
Ending Balance (Shares) at Dec. 31, 2012 | ' | ' | 253,348,000 | 261,246,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Employee related equity activity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amortization of share-based compensation | 43,620 | ' | ' | ' | 43,620 | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of share-based compensation shares | 17 | ' | 1,872 | ' | -1,855 | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of share-based compensation shares, Shares | ' | ' | 667,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exercise of stock options | 5,651 | ' | 496 | ' | 5,155 | ' | ' | ' | ' | ' | ' | ' | ' |
Exercise of stock options, Shares | 212,017 | ' | 212,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Tax benefit of stock options exercised | -1,407 | ' | ' | ' | -1,407 | ' | ' | ' | ' | ' | ' | ' | ' |
Restricted shares forfeited or repurchased for taxes | -7,653 | ' | ' | ' | ' | ' | ' | ' | -7,653 | ' | ' | ' | ' |
Restricted shares forfeited or repurchased for taxes, Shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Distributions to parent | -256,793 | -265,880 | ' | ' | ' | ' | -256,793 | -265,880 | ' | ' | ' | ' | ' |
Capital contributions by parent-Share-based compensation | ' | 26,862 | ' | ' | ' | 26,862 | ' | ' | ' | ' | ' | ' | ' |
Retirement of treasury shares | ' | ' | ' | ' | -28,722 | ' | ' | ' | 28,722 | ' | ' | ' | ' |
Retirement of treasury shares, Shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Redomiciliation to the United Kingdom | ' | ' | -709,964 | ' | 709,964 | ' | ' | ' | ' | ' | ' | ' | ' |
Redomiciliation to the United Kingdom, Shares | ' | ' | -779,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income | 850,406 | 935,523 | ' | ' | ' | ' | 782,697 | 867,814 | ' | 67,709 | 67,709 | ' | ' |
Dividends paid to noncontrolling interests | -105,388 | -105,388 | ' | ' | ' | ' | ' | ' | ' | -105,388 | -105,388 | ' | ' |
Other comprehensive income, net | 33,285 | 33,285 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 33,285 | 33,285 |
Ending Balance at Dec. 31, 2013 | $9,050,028 | $9,155,484 | $2,534 | $26,125 | $810,286 | $497,316 | $7,591,927 | $7,986,762 | ' | $727,445 | $727,445 | ($82,164) | ($82,164) |
Ending Balance (Shares) at Dec. 31, 2013 | ' | ' | 253,448,000 | 261,246,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Consolidated_Statements_of_Equ1
Consolidated Statements of Equity (Parenthetical) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Amortization of share-based compensation, Shares | ' | ' | ' |
Shares [Member] | ' | ' | ' |
Amortization of share-based compensation, Shares | ' | ' | ' |
Capital in Excess of Par Value [Member] | ' | ' | ' |
Amortization of share-based compensation, Shares | ' | ' | ' |
Retained Earnings [Member] | ' | ' | ' |
Amortization of share-based compensation, Shares | ' | ' | ' |
Treasury Shares [Member] | ' | ' | ' |
Amortization of share-based compensation, Shares | ' | ' | ' |
Noncontrolling Interests [Member] | ' | ' | ' |
Amortization of share-based compensation, Shares | ' | ' | ' |
Accumulated Other Comprehensive Loss [Member] | ' | ' | ' |
Amortization of share-based compensation, Shares | ' | ' | ' |
Consolidated_Balance_Sheet_Par
Consolidated Balance Sheet (Parenthetical) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Ordinary shares, shares outstanding | 253,448 | 253,348 |
Noble-Cayman [Member] | ' | ' |
Ordinary shares, shares outstanding | 261,246 | 261,246 |
Organization_and_Significant_A
Organization and Significant Accounting Policies | 12 Months Ended | |||
Dec. 31, 2013 | ||||
Accounting Policies [Abstract] | ' | |||
Organization and Significant Accounting Policies | ' | |||
Note 1 – Organization and Significant Accounting Policies | ||||
Organization and Business | ||||
On November 20, 2013, pursuant to the Merger Agreement dated as of June 30, 2013 between Noble Corporation, a Swiss corporation (“Noble-Swiss”), and Noble Corporation plc, a company registered under the laws of England and Wales (“Noble-UK”), Noble-Swiss merged with and into Noble-UK, with Noble-UK as the surviving company (the “Transaction”). In the Transaction, all of the outstanding ordinary shares of Noble-Swiss were cancelled, and Noble-UK issued, through an exchange agent, one ordinary share of Noble-UK in exchange for each ordinary share of Noble-Swiss. | ||||
The Transaction effectively changed the place of incorporation of our publicly traded parent holding company from Switzerland to the United Kingdom. As a result of the Transaction, Noble-UK owns and conducts the same businesses through the Noble group as Noble-Swiss conducted prior to the Transaction, except that Noble-UK is the parent company of the Noble group of companies. | ||||
Noble Corporation, a Cayman Islands company (“Noble-Cayman”), is a direct, wholly-owned subsidiary of Noble-UK. Noble-UK’s principal asset is all of the shares of Noble-Cayman. Noble-Cayman has no public equity outstanding. The consolidated financial statements of Noble-UK include the accounts of Noble-Cayman, and Noble-UK conducts substantially all of its business through Noble-Cayman and its subsidiaries. | ||||
Noble-UK is a leading offshore drilling contractor for the oil and gas industry. We perform contract drilling services with our fleet of mobile offshore drilling units located worldwide. We also own one floating production storage and offloading unit (“FPSO”). Currently, our fleet consists of 14 semisubmersibles, 14 drillships and 49 jackups, including six units under construction as follows: | ||||
• | two dynamically positioned, ultra-deepwater, harsh environment drillships; and | |||
• | four high-specification, heavy-duty, harsh environment jackups. | |||
Our fleet is located in the United States, Mexico, Brazil, the North Sea, the Mediterranean, West Africa, the Middle East, India, Asia and Australia. Noble and its predecessors have been engaged in the contract drilling of oil and gas wells since 1921. | ||||
Principles of Consolidation | ||||
The consolidated financial statements include our accounts, those of our wholly-owned subsidiaries and entities in which we hold a controlling financial interest. Our consolidated financial statements include the accounts of two joint ventures, in each of which we own a 50 percent interest. Our ownership interest meets the definition of variable interest under Financial Accounting Standards Board (“FASB”) codification and we have determined that we are the primary beneficiary. Intercompany balances and transactions have been eliminated in consolidation. | ||||
Foreign Currency Translation | ||||
Although we are a UK company, we define foreign currency as any non-U.S. denominated currency. In non-U.S. locations where the U.S. 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. In non-U.S. 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 income statement 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 U.S. 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, 2013. | ||||
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. | ||||
Property and Equipment | ||||
Property and equipment is stated at cost, reduced by provisions to recognize economic impairment in value whenever events or changes in circumstances indicate an asset’s carrying value may not be recoverable. 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 to thirty years. Other property and equipment is depreciated using the straight-line method over useful lives ranging from two to twenty-five years. Included in accounts payable were $88 million and $141 million of capital accruals as of December 31, 2013 and 2012, respectively. | ||||
Interest is capitalized on construction-in-progress at 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 to five years are capitalized when incurred and depreciated over an equivalent period. These overhauls and asset replacement projects are included in “Drilling equipment and facilities” in Note 5. Such amounts, net of accumulated depreciation, totaled $400 million and $303 million at December 31, 2013 and 2012, respectively. Depreciation expense related to overhauls and asset replacement totaled $140 million, $113 million and $103 million for the years ended December 31, 2013, 2012 and 2011, respectively. | ||||
We evaluate the impairment of property and equipment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. In addition, on an annual basis, we complete an impairment analysis on our rig fleet. An impairment loss on our property and equipment exists when the estimated undiscounted cash flows expected to result from the use of the asset and its eventual disposition are less than its carrying amount. Any impairment loss recognized represents the excess of the asset’s carrying value over the estimated fair value. As part of this analysis, we make assumptions and estimates regarding future market conditions. To the extent actual results do not meet our estimated assumptions, for a given rig class, we may take an impairment loss in the future. | ||||
Deferred Costs | ||||
Deferred debt issuance costs are being amortized through interest expense over the life of the debt securities. | ||||
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, 2013 and 2012, loss reserves for personal injury and protection claims totaled $29 million and $20 million, respectively, and such amounts are included in “Other current liabilities” in the accompanying Consolidated Balance Sheets. | ||||
Revenue Recognition | ||||
Revenues generated from our dayrate-basis drilling contracts and labor contracts are recognized as services are performed and begin upon the contract commencement, as defined under the specified drilling or labor contract. Revenues from bonuses are recognized when earned. | ||||
It is typical, in our dayrate drilling contracts, to receive compensation for mobilization, equipment modification, or other activities prior to the commencement of the contract. These payments take either the form of a lump-sum payment or other daily compensation. We defer pre-contract compensation and related costs over the term of the initial contract period to which the compensation and costs relate. Upon completion of our drilling contracts, any demobilization revenues received are recognized as income, as are any related expenses. | ||||
Deferred revenues under drilling contracts totaled $303 million at December 31, 2013 as compared to $252 million at December 31, 2012. Such amounts are included in either “Other current liabilities” or “Other liabilities” in our Consolidated Balance Sheets, based upon our expected time of recognition. Related expenses deferred under drilling contracts totaled $157 million at December 31, 2013 as compared to $150 million at December 31, 2012, and are included in either “Other current assets” or “Other assets” in our 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. Applicable income and withholding taxes have not been provided on undistributed earnings of our subsidiaries. We do not intend to repatriate such undistributed earnings except for distributions upon which incremental income and withholding taxes would not be material. 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. | ||||
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 U.S., UK or 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 U.S. Internal Revenue Service (“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. | ||||
Net Income 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. | ||||
Certain Significant Estimates | ||||
The preparation of financial statements in conformity 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. | ||||
Reclassifications | ||||
Certain amounts in prior periods have been reclassified to conform to the current year presentation. | ||||
Accounting Pronouncements | ||||
In February 2013, the FASB issued Accounting Standards Update (“ASU”) No. 2013-02, which amends FASB Accounting Standards Codification (“ASC”) Topic 220, “Comprehensive Income.” This amended guidance requires additional information about reclassification adjustments out of comprehensive income, including changes in comprehensive income balances by component and significant items reclassified out of comprehensive income. This guidance is effective for reporting periods beginning after December 15, 2012. The adoption of this guidance did not have a material impact on our financial condition, results of operations, cash flows or financial disclosures. | ||||
In March 2013, the FASB issued ASU No. 2013-05, which amends ASC Topic 830, “Foreign Currency Matters.” This ASU provides guidance on foreign currency translation adjustments when a parent entity ceases to have a controlling interest on a previously consolidated subsidiary or group of assets. The guidance is effective for fiscal years beginning on or after December 15, 2013. We are still evaluating what impact, if any, the adoption of this guidance will have on our financial condition, results of operations, cash flows or financial disclosures. | ||||
In July 2013, the FASB issued ASU No. 2013-11, which amends ASC Topic 740, “Taxes.” This ASU provides guidance on the presentation of tax benefits when a net operating loss carryforward or other tax credit carryforward exists. The guidance is effective for fiscal years beginning on or after December 15, 2013. We are still evaluating what impact, if any, the adoption of this guidance will have on our financial condition, results of operations, cash flows or financial disclosures. |
Consolidated_Joint_Ventures
Consolidated Joint Ventures | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Noncontrolling Interest [Abstract] | ' | ||||||||
Consolidated Joint Ventures | ' | ||||||||
Note 2 – Consolidated Joint Ventures | |||||||||
We maintain a 50 percent interest in two joint ventures, each with a subsidiary of Royal Dutch Shell plc (“Shell”) that own and operate the two Bully-class drillships. We have determined that we are the primary beneficiary. Accordingly, we consolidate the entities in our consolidated financial statements after eliminating intercompany transactions. Shell’s equity interests are presented as noncontrolling interests on our Consolidated Balance Sheets. | |||||||||
In January 2011, the Bully joint ventures issued notes to the joint venture partners totaling $70 million. The interest rate on these notes was 10%, payable semi-annually in arrears and in kind on June 30 and December 31 commencing in June 2011. The purpose of these notes was to provide additional liquidity to the joint ventures in connection with the shipyard construction of the Bully vessels. | |||||||||
In April 2011, the Bully joint venture partners entered into a subscription agreement, pursuant to which each partner was issued equity in each of the Bully joint ventures in exchange for the cancellation of all outstanding joint venture partner notes. The subscription agreement converted all joint venture partner notes into equity of the respective joint venture. The total capital contributed as a result of these agreements was $146 million, which included $142 million in outstanding notes, plus accrued interest. Our portion of the capital contribution, totaling $73 million, was eliminated in consolidation. | |||||||||
In April 2011, the Bully joint venture partners also entered into capital contribution agreements whereby capital calls up to a total of $360 million could be made for funds needed to complete the construction of the drillships. All contributions under these agreements have been made, with the final contribution made in the first quarter of 2012. | |||||||||
During 2013, the Bully joint ventures approved and paid dividends totaling $211 million, of which $105 million was paid to our joint venture partner. | |||||||||
The combined carrying amount of the Bully-class drillships at both December 31, 2013 and 2012 totaled $1.4 billion. These assets were primarily funded through partner equity contributions. During 2012, these rigs commenced the operating phases of their contracts. Cash held by the Bully joint ventures totaled approximately $50 million at December 31, 2013. Operational results for the years ended December 31, 2013 and 2012 are as follows: | |||||||||
Year Ended | |||||||||
December 31, | |||||||||
2013 | 2012 | ||||||||
Operating revenues | $ | 355,115 | $ | 237,123 | |||||
Net income | $ | 145,447 | $ | 71,629 |
Earnings_per_Share
Earnings per Share | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||
Earnings per Share | ' | ||||||||||||
Note 3- Earnings per Share | |||||||||||||
The following table sets forth the computation of basic and diluted net income per share for Noble-UK: | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Allocation of income from continuing operations | |||||||||||||
Basic | |||||||||||||
Net income attributable to Noble Corporation | $ | 782,697 | $ | 522,344 | $ | 370,898 | |||||||
Earnings allocated to unvested share-based payment awards | (9,271 | ) | (5,309 | ) | (3,727 | ) | |||||||
Net income to common shareholders—basic | $ | 773,426 | $ | 517,035 | $ | 367,171 | |||||||
Diluted | |||||||||||||
Net income attributable to Noble Corporation | $ | 782,697 | $ | 522,344 | $ | 370,898 | |||||||
Earnings allocated to unvested share-based payment awards | (9,261 | ) | (5,302 | ) | (3,719 | ) | |||||||
Net income to common shareholders—diluted | $ | 773,436 | $ | 517,042 | $ | 367,179 | |||||||
Weighted average shares outstanding—basic | 253,288 | 252,435 | 251,405 | ||||||||||
Incremental shares issuable from assumed exercise of stock options | 259 | 356 | 584 | ||||||||||
Weighted average shares outstanding—diluted | 253,547 | 252,791 | 251,989 | ||||||||||
Weighted average unvested share-based payment awards | 3,036 | 2,592 | 2,552 | ||||||||||
Earnings per share | |||||||||||||
Basic | $ | 3.05 | $ | 2.05 | $ | 1.46 | |||||||
Diluted | $ | 3.05 | $ | 2.05 | $ | 1.46 | |||||||
Dividends per share | $ | 0.76 | $ | 0.54 | $ | 0.6 | |||||||
Only those items having a dilutive impact on our basic net income per share are included in diluted net income per share. For the years ended December 31, 2013, 2012 and 2011, approximately 1 million shares underlying stock options were excluded from the diluted net income per share calculation as such stock options were not dilutive. |
Receivables_from_Customers
Receivables from Customers | 12 Months Ended |
Dec. 31, 2013 | |
Receivables [Abstract] | ' |
Receivables from Customers | ' |
Note 4- Receivables from Customers | |
At December 31, 2013, we had receivables of approximately $14 million related to the Noble Max Smith, which are being disputed by our customer, Petróleos Mexicanos (“Pemex”). These receivables have been classified as long-term and are included in “Other assets” on our Consolidated Balance Sheet. The disputed amounts relate to lost revenues for downtime that occurred after our rig was damaged when one of Pemex’s supply boats collided with our rig in 2010. In January 2012, we filed a lawsuit against Pemex in Mexican court seeking recovery of these amounts. While we can make no assurances as to the outcome of this dispute, we believe we are entitled to the disputed amounts. |
Property_and_Equipment
Property and Equipment | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Property Plant And Equipment [Abstract] | ' | ||||||||
Property and Equipment | ' | ||||||||
Note 5- Property and Equipment | |||||||||
Property and equipment, at cost, as of December 31, 2013 and 2012 for Noble-UK consisted of the following: | |||||||||
2013 | 2012 | ||||||||
Drilling equipment and facilities | $ | 17,130,986 | $ | 14,043,717 | |||||
Construction in progress | 1,854,434 | 2,733,296 | |||||||
Other | 213,347 | 194,653 | |||||||
Property and equipment, at cost | $ | 19,198,767 | $ | 16,971,666 | |||||
Capital expenditures, including capitalized interest, totaled $2.5 billion and $1.7 billion for the years ended December 31, 2013 and 2012, respectively. Capitalized interest was $115 million for the year ended December 31, 2013 as compared to $136 million for the year ended December 31, 2012. |
Debt
Debt | 12 Months Ended | ||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||
Debt Disclosure [Abstract] | ' | ||||||||||||||||||||||||||
Debt | ' | ||||||||||||||||||||||||||
Note 6 – Debt | |||||||||||||||||||||||||||
Long-term debt consists of the following at December 31, 2013 and 2012: | |||||||||||||||||||||||||||
December 31, | December 31, | ||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||
Senior unsecured notes: | |||||||||||||||||||||||||||
5.875% Senior Notes due 2013 | $ | — | $ | 299,985 | |||||||||||||||||||||||
7.375% Senior Notes due 2014 | 249,964 | 249,799 | |||||||||||||||||||||||||
3.45% Senior Notes due 2015 | 350,000 | 350,000 | |||||||||||||||||||||||||
3.05% Senior Notes due 2016 | 299,967 | 299,952 | |||||||||||||||||||||||||
2.50% Senior Notes due 2017 | 299,886 | 299,852 | |||||||||||||||||||||||||
7.50% Senior Notes due 2019 | 201,695 | 201,695 | |||||||||||||||||||||||||
4.90% Senior Notes due 2020 | 499,022 | 498,900 | |||||||||||||||||||||||||
4.625% Senior Notes due 2021 | 399,576 | 399,527 | |||||||||||||||||||||||||
3.95% Senior Notes due 2022 | 399,178 | 399,095 | |||||||||||||||||||||||||
6.20% Senior Notes due 2040 | 399,893 | 399,891 | |||||||||||||||||||||||||
6.05% Senior Notes due 2041 | 397,646 | 397,613 | |||||||||||||||||||||||||
5.25% Senior Notes due 2042 | 498,283 | 498,257 | |||||||||||||||||||||||||
Total senior unsecured notes | 3,995,110 | 4,294,566 | |||||||||||||||||||||||||
Commercial paper program | 1,561,141 | 339,809 | |||||||||||||||||||||||||
Total long-term debt | $ | 5,556,251 | $ | 4,634,375 | |||||||||||||||||||||||
Credit Facilities and Commercial Paper Program | |||||||||||||||||||||||||||
Noble currently has three separate credit facilities with an aggregate maximum available capacity of $2.9 billion (together, the “Credit Facilities”). During 2013, we undertook a series of transactions related to our Credit Facilities, which are summarized by the following: | |||||||||||||||||||||||||||
• | in August 2013, we entered into a $600 million 364-day unsecured revolving credit agreement; | ||||||||||||||||||||||||||
• | in November 2013, we increased our commercial paper program by $900 million. As a result, we are able to issue up to an aggregate of $2.7 billion in unsecured commercial paper notes. Amounts issued under the commercial paper program are supported by our Credit Facilities and, therefore, are classified as long-term on our Consolidated Balance Sheet. Commercial paper issued reduces availability under our Credit Facilities; and | ||||||||||||||||||||||||||
• | in December 2013, we extended the maturity date of the $800 million credit facility maturing in 2015 for a one-year period to February 11, 2016. During the extended period, availability under this credit facility will be reduced by $36 million. | ||||||||||||||||||||||||||
In addition to the above transactions, we continue to maintain a $1.5 billion credit facility that matures in 2017. | |||||||||||||||||||||||||||
The Credit Facilities provide us with the ability to issue up to $375 million in letters of credit in the aggregate. The issuance of letters of credit does not increase our borrowings outstanding under the Credit Facilities, but it does reduce the amount available. At December 31, 2013, we had no letters of credit issued under the Credit Facilities. | |||||||||||||||||||||||||||
Senior Unsecured Notes | |||||||||||||||||||||||||||
During the second quarter of 2013, we repaid our $300 million 5.875% Senior Notes using proceeds from our commercial paper program. | |||||||||||||||||||||||||||
In February 2012, we issued, through our indirect wholly-owned subsidiary, Noble Holding International Limited (“NHIL”), $1.2 billion aggregate principal amount of senior notes in three separate tranches, comprising of $300 million of 2.50% Senior Notes due 2017, $400 million of 3.95% Senior Notes due 2022, and $500 million of 5.25% Senior Notes due 2042. The weighted average coupon of all three tranches is 4.13%. The net proceeds of approximately $1.19 billion, after expenses, were primarily used to repay the then outstanding balance on our Credit Facilities. | |||||||||||||||||||||||||||
Our $250 million 7.375% Senior Notes mature during the first quarter of 2014. We anticipate using availability under our Credit Facilities or commercial paper program to repay the outstanding balance; therefore, we continue to report the balance as long-term at December 31, 2013. | |||||||||||||||||||||||||||
Covenants | |||||||||||||||||||||||||||
The Credit Facilities are guaranteed by our indirect wholly-owned subsidiaries, NHIL and Noble Drilling Corporation (“NDC”). The covenants and events of default under the Credit Facilities are substantially similar, and each facility contains a covenant that limits our ratio of debt to total tangible capitalization, as defined in the Credit Facilities, to 0.60. At December 31, 2013, our ratio of debt to total tangible capitalization was approximately 0.38. We were in compliance with all covenants under the Credit Facilities as of December 31, 2013. | |||||||||||||||||||||||||||
In addition to the covenants from the Credit Facilities noted above, the indentures governing our outstanding senior unsecured notes contain covenants that place restrictions on certain merger and consolidation transactions, unless we are the surviving entity or the other party assumes the obligations under the indenture, and on the ability to sell or transfer all or substantially all of our assets. In addition, there are restrictions on incurring or assuming certain liens and sale and lease-back transactions. At December 31, 2013, we were in compliance with all our debt covenants. We continually monitor compliance with the covenants under our notes and expect to remain in compliance during 2014. | |||||||||||||||||||||||||||
Joint Venture Debt | |||||||||||||||||||||||||||
In the first quarter of 2011, the joint venture credit facilities, which had a combined outstanding balance of $693 million, were repaid in full through contributions to the joint ventures from Noble and Shell. Shell contributed $361 million in equity to fund their portion of the repayment of joint venture credit facilities and related interest rate swaps, which were settled concurrently with the repayment and termination of the joint venture credit facilities. | |||||||||||||||||||||||||||
Other | |||||||||||||||||||||||||||
At December 31, 2013, we had letters of credit of $314 million and performance and temporary import bonds totaling $131 million supported by surety bonds outstanding. Certain of our subsidiaries issue guarantees to the temporary import status of rigs or equipment imported into certain countries in which we operate. These guarantees are issued in-lieu of payment of custom, value added or similar taxes in those countries. | |||||||||||||||||||||||||||
Aggregate principal repayments of total debt for the next five years and thereafter are as follows: | |||||||||||||||||||||||||||
2014(1)(2) | 2015 | 2016 | 2017 | 2018 | Thereafter | Total | |||||||||||||||||||||
$ | 1,811,105 | $ | 350,000 | $ | 299,967 | $ | 299,886 | $ | — | $ | 2,795,293 | $ | 5,556,251 | ||||||||||||||
-1 | In March 2014, our $250 million 7.375% senior notes mature. We anticipate using availability on our Credit Facilities or commercial paper program to repay the outstanding balance; therefore, we have shown the entire balance as long-term on our December 31, 2013 Consolidated Balance Sheet. | ||||||||||||||||||||||||||
-2 | Amounts outstanding under our commercial paper program mature during 2014. As amounts issued under the commercial paper program are supported by the unused committed capacity under our Credit Facilities, they are classified as long-term on our Consolidated Balance Sheet at December 31, 2013 | ||||||||||||||||||||||||||
Fair Value of Financial Instruments | |||||||||||||||||||||||||||
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 senior notes 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). | |||||||||||||||||||||||||||
The following table presents the estimated fair value of our long-term debt as of December 31, 2013 and 2012: | |||||||||||||||||||||||||||
December 31, 2013 | December 31, 2012 | ||||||||||||||||||||||||||
Carrying | Estimated | Carrying | Estimated | ||||||||||||||||||||||||
Value | Fair Value | Value | Fair Value | ||||||||||||||||||||||||
Senior unsecured notes: | |||||||||||||||||||||||||||
5.875% Senior Notes due 2013 | $ | — | $ | — | $ | 299,985 | $ | 305,594 | |||||||||||||||||||
7.375% Senior Notes due 2014 | 249,964 | 253,634 | 249,799 | 269,008 | |||||||||||||||||||||||
3.45% Senior Notes due 2015 | 350,000 | 363,019 | 350,000 | 368,824 | |||||||||||||||||||||||
3.05% Senior Notes due 2016 | 299,967 | 309,878 | 299,952 | 316,268 | |||||||||||||||||||||||
2.50% Senior Notes due 2017 | 299,886 | 302,891 | 299,852 | 309,846 | |||||||||||||||||||||||
7.50% Senior Notes due 2019 | 201,695 | 232,839 | 201,695 | 249,358 | |||||||||||||||||||||||
4.90% Senior Notes due 2020 | 499,022 | 528,597 | 498,900 | 562,530 | |||||||||||||||||||||||
4.625% Senior Notes due 2021 | 399,576 | 413,868 | 399,527 | 442,776 | |||||||||||||||||||||||
3.95% Senior Notes due 2022 | 399,178 | 390,520 | 399,095 | 422,227 | |||||||||||||||||||||||
6.20% Senior Notes due 2040 | 399,893 | 421,720 | 399,891 | 477,327 | |||||||||||||||||||||||
6.05% Senior Notes due 2041 | 397,646 | 417,312 | 397,613 | 468,256 | |||||||||||||||||||||||
5.25% Senior Notes due 2042 | 498,283 | 476,873 | 498,257 | 533,422 | |||||||||||||||||||||||
Total senior unsecured notes | 3,995,110 | 4,111,151 | 4,294,566 | 4,725,436 | |||||||||||||||||||||||
Commercial paper program | 1,561,141 | 1,561,141 | 339,809 | 339,809 | |||||||||||||||||||||||
Total long-term debt | $ | 5,556,251 | $ | 5,672,292 | $ | 4,634,375 | $ | 5,065,245 |
Equity
Equity | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Equity [Abstract] | ' | ||||||||||||||||||||||||
Equity | ' | ||||||||||||||||||||||||
Note 7 – Equity | |||||||||||||||||||||||||
Share Capital | |||||||||||||||||||||||||
The following table provides a detail of Noble-UK’s share capital as of December 31, 2013 and 2012: | |||||||||||||||||||||||||
December 31, | |||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||
Shares outstanding and trading | 253,448 | 252,759 | |||||||||||||||||||||||
Treasury shares | — | 589 | |||||||||||||||||||||||
Total shares outstanding | 253,448 | 253,348 | |||||||||||||||||||||||
Treasury shares held for share-based compensation plans | — | 12,802 | |||||||||||||||||||||||
Total shares authorized for issuance | 253,448 | 266,150 | |||||||||||||||||||||||
Repurchased treasury shares are recorded at cost, and relate to shares surrendered by employees for taxes payable upon the vesting of restricted stock. | |||||||||||||||||||||||||
In November 2013, concurrent with our change in place of incorporation, 0.8 million repurchased shares held in treasury were cancelled. Additionally, in December 2013, as part of the capital reduction in connection with our change in place of incorporation, 12.0 million treasury shares held by a wholly-owned subsidiary were cancelled. | |||||||||||||||||||||||||
Our Board of Directors may increase our share capital through the issuance of up to approximately 53 million authorized shares (at current nominal value of $0.01 per share) without obtaining shareholder approval. | |||||||||||||||||||||||||
In April 2013, our shareholders approved the payment of a dividend aggregating $1.00 per share to be paid in four equal installments. As of December 31, 2013, we had $128 million of dividends payable outstanding on this obligation. Any additional issuances of shares would further increase our obligation. Our Board of Directors has the authority to accelerate the payment of any installment, or portions thereof, at its sole discretion at any time prior to payment of the final installment. | |||||||||||||||||||||||||
Our most recent quarterly dividend payment to shareholders, totaling approximately $97 million (or $0.375 per share), was declared on January 30, 2014 and paid on February 20, 2014 to holders of record on February 10, 2014. This payment represented the third tranche ($0.25 per share) of our previously approved annual dividend payment to shareholders, and includes an increase of $0.125 per share that was approved by the Board of Directors in January 2014. Including the increase approved in January 2014, our current dividend is $1.50 per share on an annualized basis. | |||||||||||||||||||||||||
Share Repurchases | |||||||||||||||||||||||||
Under UK law, the company is only permitted to purchase its own shares by way of an “off market purchase” in a plan approved by shareholders. Prior to our redomiciliation to the UK, a resolution was adopted authorizing the repurchase of 6,769,891 shares during the five-year period commencing on the date of the redomiciliation. This number of shares corresponds to the number of shares that Noble-Swiss had authority to repurchase at the time of the redomiciliation. The company may only fund the purchase of its own shares out of distributable reserves or the proceeds of a new issue of shares made expressly for that purpose. The company currently has adequate distributable reserves to fund its currently approved repurchase plan. If any premium above the nominal value of the purchased shares is paid, it must be paid out of distributable reserves. Any shares purchased by the company out of distributable reserves may be held as treasury shares. | |||||||||||||||||||||||||
Share repurchases for each of the three years ended December 31 are as follows: | |||||||||||||||||||||||||
Total Number | Average | ||||||||||||||||||||||||
Year Ended | of Shares | Price Paid | |||||||||||||||||||||||
December 31, | Purchased (1) | Total Cost | per Share | ||||||||||||||||||||||
2013 | 190,187 | $ | 7,653 | $ | 40.24 | ||||||||||||||||||||
2012 | 302,150 | 10,516 | 34.8 | ||||||||||||||||||||||
2011 | 261,721 | 10,233 | 39.1 | ||||||||||||||||||||||
-1 | Includes shares surrendered by employees for taxes payable upon the vesting of restricted stock. | ||||||||||||||||||||||||
Share-Based Compensation Plans | |||||||||||||||||||||||||
Stock Plans | |||||||||||||||||||||||||
The Noble Corporation 1991 Stock Option and Restricted Stock Plan, as amended (the “1991 Plan”), provides for the granting of options to purchase our shares, with or without stock appreciation rights, and the awarding of restricted shares or units to selected employees. The 1991 Plan limits the total number of shares issuable under the plan to 50.1 million. As of December 31, 2013, we had 6.4 million shares remaining available for grants to employees under the 1991 Plan. | |||||||||||||||||||||||||
Prior to October 25, 2007, the Noble Corporation 1992 Nonqualified Stock Option and Share Plan for Non-Employee Directors (the “1992 Plan”) provided for the granting of nonqualified stock options to our non-employee directors. On October 25, 2007, the 1992 Plan was amended and restated to, among other things, eliminate grants of stock options to non-employee directors and modify the annual award of restricted shares from a fixed number of restricted shares to an annually-determined variable number of restricted or unrestricted shares. The 1992 Plan limits the total number of shares issuable under the plan to 2.0 million. As of December 31, 2013, we had 0.5 million shares remaining available for award to non-employee directors under the 1992 Plan. | |||||||||||||||||||||||||
Stock Options | |||||||||||||||||||||||||
In general, 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 both the 1991 Plan and 1992 Plan as of December 31, 2013, 2012 and 2011 and the changes during the year ended on those dates is presented below: | |||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||
Number of | Weighted | Number of | Weighted | Number of | Weighted | ||||||||||||||||||||
Shares | Average | Shares | Average | Shares | Average | ||||||||||||||||||||
Underlying | Exercise | Underlying | Exercise | Underlying | Exercise | ||||||||||||||||||||
Options | Price | Options | Price | Options | Price | ||||||||||||||||||||
Outstanding at beginning of year | 2,027,089 | $ | 32.44 | 2,498,662 | $ | 29.22 | 2,767,486 | $ | 26.22 | ||||||||||||||||
Granted | — | — | 358,772 | 36.04 | 322,567 | 37.71 | |||||||||||||||||||
Exercised (1) | (212,017 | ) | 26.66 | (645,731 | ) | 20.97 | (506,149 | ) | 17.89 | ||||||||||||||||
Forfeited | (6,085 | ) | 31.35 | (184,614 | ) | 35.92 | (85,242 | ) | 31.33 | ||||||||||||||||
Outstanding at end of year (2) | 1,808,987 | 33.13 | 2,027,089 | 32.44 | 2,498,662 | 29.22 | |||||||||||||||||||
Exercisable at end of year (2) | 1,510,929 | $ | 32.47 | 1,453,945 | $ | 30.7 | 2,004,370 | $ | 27.55 | ||||||||||||||||
-1 | The intrinsic value of options exercised during the year ended December 31, 2013 was $6 million. | ||||||||||||||||||||||||
-2 | The aggregate intrinsic value of options outstanding and exercisable at December 31, 2013 was $9 million. | ||||||||||||||||||||||||
The following table summarizes additional information about stock options outstanding at December 31, 2013: | |||||||||||||||||||||||||
Options Outstanding | Options Exercisable | ||||||||||||||||||||||||
Number of | Weighted | Weighted | Weighted | ||||||||||||||||||||||
Shares | Average | Average | Average | ||||||||||||||||||||||
Underlying | Remaining | Exercise | Number | Exercise | |||||||||||||||||||||
Options | Life (Years) | Price | Exercisable | Price | |||||||||||||||||||||
$16.06 to $26.46 | 579,471 | 2.54 | $ | 24.3 | 579,471 | $ | 24.3 | ||||||||||||||||||
$26.47 to $35.79 | 269,300 | 3.66 | 32.63 | 239,431 | 32.88 | ||||||||||||||||||||
$35.80 to $43.01 | 960,216 | 6.3 | 38.59 | 692,027 | 39.18 | ||||||||||||||||||||
Total | 1,808,987 | 4.7 | $ | 33.13 | 1,510,929 | $ | 32.47 | ||||||||||||||||||
No stock options were granted during the year ended December 31, 2013. Fair value information and related valuation assumptions for stock options granted during the years ended December 31, 2012 and 2011 are as follows: | |||||||||||||||||||||||||
2012 | 2011 | ||||||||||||||||||||||||
Weighted average fair value per option granted | $ | 13.41 | $ | 13.2 | |||||||||||||||||||||
Valuation assumptions: | |||||||||||||||||||||||||
Expected option term (years) | 6 | 6 | |||||||||||||||||||||||
Expected volatility | 43 | % | 38.6 | % | |||||||||||||||||||||
Historical dividend yield | 1.4 | % | 1.5 | % | |||||||||||||||||||||
Risk-free interest rate | 1.1 | % | 2.6 | % | |||||||||||||||||||||
The fair value of each option is estimated on the date of grant using a Black-Scholes pricing model. Assumptions used in the valuation are shown in the table above. 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 U.S. Treasury yield curve in effect at the time of grant. | |||||||||||||||||||||||||
A summary of the status of our non-vested stock options at December 31, 2013, and changes during the year ended December 31, 2013, is presented below: | |||||||||||||||||||||||||
Shares | Weighted-Average | ||||||||||||||||||||||||
Under Outstanding | Grant-Date | ||||||||||||||||||||||||
Options | Fair Value | ||||||||||||||||||||||||
Non-Vested Options at January 1, 2013 | 573,144 | $ | 13.44 | ||||||||||||||||||||||
Vested | (275,086 | ) | 13.78 | ||||||||||||||||||||||
Non-Vested Options at December 31, 2013 | 298,058 | $ | 13.13 | ||||||||||||||||||||||
At December 31, 2013, there was $2 million of total unrecognized compensation cost remaining for option grants awarded under the 1991 Plan. We attribute the service period to the vesting period and the unrecognized compensation is expected to be recognized over a weighted-average period of 0.82 years. Compensation cost recognized during the years ended December 31, 2013, 2012 and 2011 related to stock options totaled $3 million, $4 million and $3 million, respectively. | |||||||||||||||||||||||||
We issue new shares to meet the share requirements upon exercise of stock options. We have historically repurchased shares in the open market from time to time, which minimizes the dilutive effect of share-based compensation. | |||||||||||||||||||||||||
Restricted Stock Units (“RSU’s”) | |||||||||||||||||||||||||
We have awarded both time-vested restricted stock units (“TVRSU’s”) and market based performance-vested restricted stock units (“PVRSU’s”) under the 1991 Plan. The TVRSU’s generally vest over a three year period. The number of PVRSU’s which vest will depend on the degree of achievement of specified corporate performance criteria over a three-year performance period. These criteria are strictly market based criteria as defined by FASB standards. | |||||||||||||||||||||||||
The TVRSU is 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 PVRSU is 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 PVRSU’s include historical volatility, risk-free interest rates, and expected dividends over a time period commensurate with the remaining term prior to vesting, as follows: | |||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||
Valuation assumptions: | |||||||||||||||||||||||||
Expected volatility | 34.8 | % | 41.4 | % | 57.7 | % | |||||||||||||||||||
Expected dividend yield | 0.5 | % | 0.6 | % | 0.6 | % | |||||||||||||||||||
Risk-free interest rate | 0.4 | % | 0.3 | % | 1.3 | % | |||||||||||||||||||
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 RSU awards for each of the years in the period ended December 31 is as follows: | |||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||
TVRSU | |||||||||||||||||||||||||
Units awarded (maximum available) | 1,033,009 | 932,274 | 660,124 | ||||||||||||||||||||||
Weighted-average share price at award date | $ | 41.32 | $ | 36.53 | $ | 37.68 | |||||||||||||||||||
Weighted-average vesting period (years) | 3 | 3 | 3 | ||||||||||||||||||||||
PVRSU | |||||||||||||||||||||||||
Units awarded (maximum available) | 565,650 | 481,206 | 508,206 | ||||||||||||||||||||||
Weighted-average share price at award date | $ | 41.42 | $ | 36.9 | $ | 37.6 | |||||||||||||||||||
Three-year performance period ended December 31 | 2015 | 2014 | 2013 | ||||||||||||||||||||||
Weighted-average award-date fair value | $ | 24.97 | $ | 20.05 | $ | 16.77 | |||||||||||||||||||
We award unrestricted shares under the 1992 Plan. During the years ended December 31, 2013, 2012 and 2011, we awarded 57,095, 65,329 and 69,711 unrestricted shares to non-employee directors, resulting in related compensation cost of $2 million, $2 million and $3 million, respectively. | |||||||||||||||||||||||||
A summary of the status of non-vested RSU’s at December 31, 2013 and changes during the year ended December 31, 2013 is presented below: | |||||||||||||||||||||||||
Weighted | Weighted | ||||||||||||||||||||||||
Average | Average | ||||||||||||||||||||||||
TVRSU’s | Award-Date | PVRSU’s | Award-Date | ||||||||||||||||||||||
Outstanding | Fair Value | Outstanding (1) | Fair Value | ||||||||||||||||||||||
Non-vested RSU’s at January 1, 2013 | 1,355,721 | $ | 37.13 | 1,151,338 | $ | 18.32 | |||||||||||||||||||
Awarded | 1,033,009 | 41.32 | 565,650 | 24.97 | |||||||||||||||||||||
Vested | (609,843 | ) | 37.58 | — | — | ||||||||||||||||||||
Forfeited | (126,527 | ) | 39.45 | (319,851 | ) | 18.12 | |||||||||||||||||||
Non-vested RSU’s at December 31, 2013 | 1,652,360 | $ | 39.4 | 1,397,137 | $ | 21.06 | |||||||||||||||||||
-1 | The number of PVRSU’s 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 67 percent of the amounts shown. | ||||||||||||||||||||||||
At December 31, 2013 there was $39 million of total unrecognized compensation cost related to the TVRSU’s which is expected to be recognized over a remaining weighted-average period of 1.6 years. The total award-date fair value of TVRSU’s vested during the year ended December 31, 2013 was $23 million. | |||||||||||||||||||||||||
At December 31, 2013, there was $12 million of total unrecognized compensation cost related to the PVRSU’s which is expected to be recognized over a remaining weighted-average period of 1.6 years. The total potential compensation for PVRSU’s is recognized over the service period regardless of whether the performance thresholds are ultimately achieved. During the year ended December 31, 2013, 285,656 PVRSU’s for the 2010-2012 performance period were forfeited. In January 2014, 218,195 PVRSU’s for the 2011-2013 performance period were forfeited. | |||||||||||||||||||||||||
Share-based amortization recognized during the years ended December 31, 2013, 2012 and 2011 related to all restricted stock totaled $44 million ($36 million net of income tax), $36 million ($31 million net of income tax) and $32 million ($28 million net of income tax), respectively. Capitalized share-based amortization totaled approximately $1 million for each year in 2013, 2012 and 2011, respectively. |
Accumulated_Other_Comprehensiv
Accumulated Other Comprehensive Loss | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Text Block [Abstract] | ' | ||||||||||||
Accumulated Other Comprehensive Loss | ' | ||||||||||||
Note 8- Accumulated Other Comprehensive Loss | |||||||||||||
The following tables set forth the components of “Accumulated other comprehensive loss” (“AOCL”) for the years ended December 31, 2013 and 2012 and changes in AOCL by component for the year ended December 31, 2013. All amounts within the tables are shown net of tax. | |||||||||||||
Defined | |||||||||||||
Benefit | Foreign | ||||||||||||
Pension | Currency | ||||||||||||
Items(1) | Items | Total | |||||||||||
Balance at December 31, 2012 | $ | (95,071 | ) | $ | (20,378 | ) | $ | (115,449 | ) | ||||
Activity during period: | |||||||||||||
Other comprehensive loss before reclassifications | — | (3,188 | ) | (3,188 | ) | ||||||||
Amounts reclassified from AOCL | 36,473 | — | 36,473 | ||||||||||
Net current period other comprehensive income/(loss) | 36,473 | (3,188 | ) | 33,285 | |||||||||
Balance at December 31, 2013 | $ | (58,598 | ) | $ | (23,566 | ) | $ | (82,164 | ) | ||||
-1 | Defined benefit pension items relate to actuarial losses and the amortization of prior service costs. Reclassifications from AOCL are recognized as expense on our Consolidated Statement of Income through either “contract drilling services” or “general and administrative”. See Note 13 for additional information. |
Loss_on_Impairment
Loss on Impairment | 12 Months Ended |
Dec. 31, 2013 | |
Goodwill And Intangible Assets Disclosure [Abstract] | ' |
Loss on Impairment | ' |
Note 9- Loss on Impairment | |
During 2013, we determined that our FPSO, Noble Seillean, was partially impaired as a result of our annual impairment test and the current market outlook for this unit. We estimated the fair value of this unit by considering both income and market-based valuation approaches utilizing statistics for comparable rigs (Level 2 fair value measurement). Based on these estimates, we recognized a charge of $40 million for the year ended December 31, 2013. | |
In 2012, we determined that our submersible rig fleet, consisting of two cold stacked rigs, was partially impaired due to the declining market outlook for drilling services for that rig type. We estimated the fair value of the rigs based on the salvage value of the rigs and a recent transaction involving a similar unit owned by a peer company (Level 2 fair value measurement). Based on these estimates, we recognized a charge of approximately $13 million for the year ended December 31, 2012. During the current year, we recorded an additional impairment charge of approximately $4 million on these rigs arising from the potential disposition of these assets to an unrelated third party. In January 2014, we completed the sale of the submersibles for a total sales price of $7 million. | |
In addition, during the prior year we determined that certain corporate assets were partially impaired due to a declining market for, and the potential disposal of, the assets. We estimated the fair value of the assets based on a signed letter of intent to sell the assets (Level 2 fair value measurement). Based on these estimates, we recognized a charge of approximately $7 million for the year ended December 31, 2012. |
Gain_on_Disposal_of_Assets_Net
Gain on Disposal of Assets, Net | 12 Months Ended |
Dec. 31, 2013 | |
Text Block [Abstract] | ' |
Gain on Disposal of Assets, Net | ' |
Note 10- Gain on Disposal of Assets, net | |
During the third quarter of 2013, we completed the sale of the Noble Lewis Dugger for $61 million to an unrelated third party in Mexico. In connection with the sale, we recorded a pre-tax gain of approximately $36 million. |
Gain_on_Contract_SettlementsEx
Gain on Contract Settlements/Extinguishments, Net | 12 Months Ended |
Dec. 31, 2013 | |
Contractors [Abstract] | ' |
Gain on Contract Settlements/Extinguishments, Net | ' |
Note 11- Gain on Contract Settlements/Extinguishments, Net | |
During the third quarter of 2013, we received $45 million related to the settlement of all claims against the former shareholders of FDR Holdings, Ltd., which we acquired in July 2010, relating to alleged breaches of various representations and warranties contained in the purchase agreement. | |
During the second quarter of 2012, we received approximately $5 million from the settlement of a claim relating to the Noble David Tinsley, which had experienced a “punch-through” while being positioned on location in 2009. We had originally recorded a $17 million charge during 2009 related to this incident. Additionally, during the second quarter of 2012, we settled an action against certain vendors for damages sustained during Hurricane Ike. We recognized a net gain of approximately $28 million related to this settlement. We also resolved all outstanding matters with Anadarko Petroleum Company (“Anadarko”) related to the previously disclosed force majeure action, Hurricane Ike matters and receivables relating to the Noble Amos Runner. | |
In January 2011, we announced the signing of a Memorandum of Understanding (“MOU”) with Petróleo Brasileiro S.A. (“Petrobras”) regarding operations in Brazil. Under the terms of the MOU, we agreed to substitute the Noble Phoenix, then under contract with Shell in Southeast Asia, for the Noble Muravlenko. In connection with the cancellation of the contract on the Noble Phoenix, we recognized a non-cash gain of approximately $52.5 million during the first quarter of 2011, which represented the unamortized fair value of the in-place contract at acquisition. As a result of the substitution, we reached a decision not to proceed with the previously announced reliability upgrade to the Noble Muravlenko that was scheduled to take place in 2013, and therefore, incurred a non-cash charge of approximately $32.6 million related to the termination of outstanding shipyard contracts. The substitution was completed during the fourth quarter of 2012. | |
In February 2011, the outstanding balances of the Bully joint venture credit facilities, which totaled $693 million, were repaid in full and the credit facilities terminated using a portion of the proceeds from our February 2011 debt offering and equity contributions from our joint venture partner. In addition, the related interest rate swaps were settled and terminated concurrent with the repayment and termination of the credit facilities. As a result of these transactions, we recognized a gain of approximately $1.3 million during the first quarter of 2011. |
Income_Taxes
Income Taxes | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||
Income Taxes | ' | ||||||||||||
Note 12- Income Taxes | |||||||||||||
Noble-UK is a company which is tax resident in the UK and, as such, will be 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 of the non-UK subsidiaries is not expected to be subject to UK corporation tax. Prior to the redomiciliation, Noble-Swiss was the group holding company and was exempt from Swiss cantonal and communal income tax on its worldwide income, and was also granted participation relief from Swiss federal tax for qualifying dividend income and capital gains related to the sale of qualifying participations. It is expected that the participation relief will result in a full exemption of participation income from Swiss federal income tax.We do not expect the redomiciliation from Switzerland to the UK to have a material impact on our effective tax rate. | |||||||||||||
Consequently, we have taken account of those tax exemptions 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: | |||||||||||||
2013 | 2012 | ||||||||||||
Deferred tax assets | |||||||||||||
United States | |||||||||||||
Deferred pension plan amounts | $ | 8,859 | $ | 14,382 | |||||||||
Accrued expenses not currently deductible | 31,769 | 20,431 | |||||||||||
Other | 14,542 | 259 | |||||||||||
Non-U.S. | |||||||||||||
Net operating loss carry forwards | 33,021 | 43,314 | |||||||||||
Deferred pension plan amounts | 2,130 | 3,832 | |||||||||||
Other | 300 | 3,631 | |||||||||||
Deferred tax assets | 90,621 | 85,849 | |||||||||||
Less: valuation allowance | (16,847 | ) | — | ||||||||||
Net deferred tax assets | $ | 73,774 | $ | 85,849 | |||||||||
Deferred tax liabilities | |||||||||||||
United States | |||||||||||||
Excess of net book basis over remaining tax basis | $ | (275,073 | ) | $ | (254,724 | ) | |||||||
Other | (6,002 | ) | (2,102 | ) | |||||||||
Non-U.S. | |||||||||||||
Excess of net book basis over remaining tax basis | (1,034 | ) | (38,726 | ) | |||||||||
Other | (2,452 | ) | — | ||||||||||
Deferred tax liabilities | $ | (284,561 | ) | $ | (295,552 | ) | |||||||
Net deferred tax liabilities | $ | (210,787 | ) | $ | (209,703 | ) | |||||||
Income before income taxes consists of the following: | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
United States | $ | 253,770 | $ | 209,662 | $ | 142,922 | |||||||
Non-U.S. | 764,242 | 493,563 | 293,328 | ||||||||||
Total | $ | 1,018,012 | $ | 703,225 | $ | 436,250 | |||||||
The income tax provision consists of the following: | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Current- United States | $ | 88,956 | $ | 88,183 | $ | 68,254 | |||||||
Current- Non-U.S. | 94,605 | 79,024 | 86,696 | ||||||||||
Deferred- United States | (11,531 | ) | (21,228 | ) | (39,167 | ) | |||||||
Deferred- Non-U.S. | (4,424 | ) | 1,109 | (43,158 | ) | ||||||||
Total | $ | 167,606 | $ | 147,088 | $ | 72,625 | |||||||
The following is a reconciliation of our reserve for uncertain tax positions, excluding interest and penalties: | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Gross balance at January 1, | $ | 115,009 | $ | 108,036 | $ | 128,581 | |||||||
Additions based on tax positions related to current year | 2,318 | 3,704 | 5,130 | ||||||||||
Additions for tax positions of prior years | 18,906 | 16,432 | 5,718 | ||||||||||
Reductions for tax positions of prior years | (7,910 | ) | (7,917 | ) | (2,354 | ) | |||||||
Expiration of statutes (1) | (2,633 | ) | (1,903 | ) | (28,846 | ) | |||||||
Tax settlements | (9,721 | ) | (3,343 | ) | (193 | ) | |||||||
Gross balance at December 31, | 115,969 | 115,009 | 108,036 | ||||||||||
Related tax benefits | (2,038 | ) | (9,981 | ) | (8,127 | ) | |||||||
Net reserve at December 31, | $ | 113,931 | $ | 105,028 | $ | 99,909 | |||||||
-1 | $(15.7) million relate to transactions recorded directly to equity for the years ended December 31, 2011. There were no transactions recorded directly to equity for the years ended December 31, 2013 and 2012. | ||||||||||||
The liabilities related to our reserve for uncertain tax positions are comprised of the following: | |||||||||||||
2013 | 2012 | ||||||||||||
Reserve for uncertain tax positions, excluding interest and penalties | $ | 113,931 | $ | 105,028 | |||||||||
Interest and penalties included in “Other liabilities” | 13,190 | 19,944 | |||||||||||
Reserve for uncertain tax positions, including interest and penalties | $ | 127,121 | $ | 124,972 | |||||||||
If these reserves of $127 million are not realized, the provision for income taxes will be reduced by $127 million. | |||||||||||||
We include, as a component of our “Income tax provision”, potential interest and penalties related to recognized tax contingencies within our global operations. Interest and penalties resulted in an income tax benefit of $7 million in 2013, an income tax expense of $5 million in 2012 and an income tax benefit of $5 million in 2011. | |||||||||||||
It is reasonably possible that our existing liabilities related to our reserve for uncertain tax positions may increase or decrease in the next twelve months primarily due to the completion of open audits or the expiration of statutes of limitation. However, we cannot reasonably estimate a range of changes in our existing liabilities due to various uncertainties, such as the unresolved nature of various audits. | |||||||||||||
We conduct business globally and, as a result, we file numerous income tax returns in the U.S. and non-U.S. jurisdictions. In the normal course of business we are subject to examination by taxing authorities throughout the world, including major jurisdictions such as Brazil, India, Mexico, Nigeria, Norway, Qatar, Saudi Arabia, Switzerland, the United Kingdom and the United States. We are no longer subject to U.S. Federal income tax examinations for years before 2009 and non-U.S. income tax examinations for years before 2003. | |||||||||||||
Noble-UK conducts substantially all of its business through Noble-Cayman and its subsidiaries. The income 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 23.25 percent. 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 Noble-UK effective rate is shown below: | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Effect of: | |||||||||||||
Tax rates which are different than the UK and Cayman Island rates | 17.1 | % | 20.7 | % | 18.9 | % | |||||||
Reserve for (resolution of) tax authority audits | -0.6 | % | 0.2 | % | -2.2 | % | |||||||
Total | 16.5 | % | 20.9 | % | 16.7 | % | |||||||
We generated and fully utilized U.S. foreign tax credits of $15 million, $22 million and $21 million in 2013, 2012 and 2011, respectively. | |||||||||||||
Deferred income taxes have not been provided on approximately $80 million of undistributed earnings of our subsidiaries. We consider such earnings to be permanently reinvested. If such earnings were to be distributed, we may be subject to additional income taxes of approximately $20 to $25 million. |
Employee_Benefit_Plans
Employee Benefit Plans | 12 Months Ended | ||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||
Compensation And Retirement Disclosure [Abstract] | ' | ||||||||||||||||||||||||||||
Employee Benefit Plans | ' | ||||||||||||||||||||||||||||
Note 13- Employee Benefit Plans | |||||||||||||||||||||||||||||
Defined Benefit Plans | |||||||||||||||||||||||||||||
We have two U.S. noncontributory defined benefit pension plans: one which covers certain salaried employees and one which covers certain hourly employees, whose initial date of employment is prior to August 1, 2004 (collectively referred to as our “qualified U.S. plans”). These plans are governed by the Noble Drilling Corporation 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 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 credit balances available to us under the plan, for the qualified U.S. plans when required. The benefit amount that can be covered by the qualified U.S. plans is limited under ERISA and the Internal Revenue Code (“IRC”) of 1986. Therefore, we maintain an unfunded, nonqualified excess benefit plan designed to maintain benefits for all employees at the formula level in the qualified salary U.S. plan. We refer to the qualified U.S. plans and the excess benefit plan collectively as the “U.S. plans”. | |||||||||||||||||||||||||||||
Each of Noble Drilling (Land Support) Limited, Noble Enterprises Limited and Noble Drilling (Nederland) B.V., all indirect, wholly-owned subsidiaries of Noble-UK, maintains a pension plan which covers all of its salaried, non-union employees (collectively referred to as our “non-U.S. plans”). Benefits are based on credited service and employees’ compensation near retirement, as defined by the plans. | |||||||||||||||||||||||||||||
A reconciliation of the changes in projected benefit obligations (“PBO”) for our non-U.S. and U.S. plans is as follows: | |||||||||||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||
Non-U.S. | U.S. | Non-U.S. | U.S. | ||||||||||||||||||||||||||
Benefit obligation at beginning of year | $ | 151,781 | $ | 225,885 | $ | 111,164 | $ | 192,042 | |||||||||||||||||||||
Service cost | 5,496 | 10,724 | 4,461 | 9,612 | |||||||||||||||||||||||||
Interest cost | 5,085 | 9,049 | 5,372 | 8,719 | |||||||||||||||||||||||||
Actuarial loss (gain) | (4,584 | ) | (17,652 | ) | 28,442 | 19,115 | |||||||||||||||||||||||
Plan amendments | (227 | ) | — | — | — | ||||||||||||||||||||||||
Benefits paid | (2,558 | ) | (4,068 | ) | (2,442 | ) | (3,603 | ) | |||||||||||||||||||||
Plan participants’ contributions | 956 | — | 747 | — | |||||||||||||||||||||||||
Foreign exchange rate changes | 5,642 | — | 4,037 | — | |||||||||||||||||||||||||
Benefit obligation at end of year | $ | 161,591 | $ | 223,938 | $ | 151,781 | $ | 225,885 | |||||||||||||||||||||
A reconciliation of the changes in fair value of plan assets is as follows: | |||||||||||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||
Non-U.S. | U.S. | Non-U.S. | U.S. | ||||||||||||||||||||||||||
Fair value of plan assets at beginning of year | $ | 151,819 | $ | 167,170 | $ | 143,110 | $ | 140,828 | |||||||||||||||||||||
Actual return on plan assets | 8,470 | 31,518 | 935 | 19,251 | |||||||||||||||||||||||||
Employer contributions | 9,365 | 6,391 | 5,647 | 10,694 | |||||||||||||||||||||||||
Benefits and expenses paid | (2,558 | ) | (4,068 | ) | (2,442 | ) | (3,603 | ) | |||||||||||||||||||||
Plan participants’ contributions | 956 | — | 747 | — | |||||||||||||||||||||||||
Foreign exchange rate changes | 6,205 | — | 3,822 | — | |||||||||||||||||||||||||
Fair value of plan assets at end of year | $ | 174,257 | $ | 201,011 | $ | 151,819 | $ | 167,170 | |||||||||||||||||||||
The funded status of the plans is as follows: | |||||||||||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||
Non-U.S. | U.S. | Non-U.S. | U.S. | ||||||||||||||||||||||||||
Funded status | $ | 12,666 | $ | (22,927 | ) | $ | 38 | $ | (58,715 | ) | |||||||||||||||||||
Amounts recognized in the Consolidated Balance Sheets consist of: | |||||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||
Non-U.S. | U.S. | Non-U.S. | U.S. | ||||||||||||||||||||||||||
Other assets (noncurrent) | $ | 13,586 | $ | 6,132 | $ | 3,486 | $ | — | |||||||||||||||||||||
Other liabilities (current) | — | (2,120 | ) | — | (1,988 | ) | |||||||||||||||||||||||
Other liabilities (noncurrent) | (920 | ) | (26,939 | ) | (3,448 | ) | (56,727 | ) | |||||||||||||||||||||
Net amount recognized | $ | 12,666 | $ | (22,927 | ) | $ | 38 | $ | (58,715 | ) | |||||||||||||||||||
Amounts recognized in AOCL consist of: | |||||||||||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||
Non-U.S. | U.S. | Non-U.S. | U.S. | ||||||||||||||||||||||||||
Net actuarial loss | $ | 30,902 | $ | 45,338 | $ | 40,288 | $ | 89,046 | |||||||||||||||||||||
Prior service cost | (232 | ) | 905 | — | 1,131 | ||||||||||||||||||||||||
Deferred income tax asset | (2,130 | ) | (16,185 | ) | (3,832 | ) | (31,562 | ) | |||||||||||||||||||||
Accumulated other comprehensive loss | $ | 28,540 | $ | 30,058 | $ | 36,456 | $ | 58,615 | |||||||||||||||||||||
Pension cost includes the following components: | |||||||||||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||||||
Non-U.S. | U.S. | Non-U.S. | U.S. | Non-U.S. | U.S. | ||||||||||||||||||||||||
Service Cost | $ | 5,496 | $ | 10,724 | $ | 4,461 | $ | 9,612 | $ | 4,545 | $ | 8,608 | |||||||||||||||||
Interest Cost | 5,085 | 9,049 | 5,372 | 8,719 | 5,586 | 8,570 | |||||||||||||||||||||||
Return on plan assets | (5,836 | ) | (13,102 | ) | (5,344 | ) | (11,171 | ) | (5,647 | ) | (11,072 | ) | |||||||||||||||||
Amortization of prior service cost | — | 227 | — | 227 | 483 | 227 | |||||||||||||||||||||||
Amortization of transition obligation | — | — | — | — | 74 | — | |||||||||||||||||||||||
Recognized net actuarial loss | 1,670 | 7,639 | 803 | 7,356 | — | 3,374 | |||||||||||||||||||||||
Net pension expense | $ | 6,415 | $ | 14,537 | $ | 5,292 | $ | 14,743 | $ | 5,041 | $ | 9,707 | |||||||||||||||||
The estimated prior service cost, transition obligation and net actuarial loss that will be amortized from AOCL into net periodic pension cost in 2014 are $0 million, $0 million and $1.3 million, respectively, for non-U.S. plans and $0.2 million, $0 million and $2.6 million, respectively, for U.S. plans. | |||||||||||||||||||||||||||||
Defined Benefit Plans—Disaggregated Plan Information | |||||||||||||||||||||||||||||
Disaggregated information regarding our non-U.S. and U.S. plans is summarized below: | |||||||||||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||
Non-U.S. | U.S. | Non-U.S. | U.S. | ||||||||||||||||||||||||||
Projected benefit obligation | $ | 161,591 | $ | 223,938 | $ | 151,781 | $ | 225,885 | |||||||||||||||||||||
Accumulated benefit obligation | 154,140 | 185,383 | 146,612 | 185,961 | |||||||||||||||||||||||||
Fair value of plan assets | 174,257 | 201,011 | 151,819 | 167,170 | |||||||||||||||||||||||||
The following table provides information related to those plans in which the PBO exceeded the fair value of the plan assets at December 31, 2013 and 2012. 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. | |||||||||||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||
Non-U.S. | U.S. | Non-U.S. | U.S. | ||||||||||||||||||||||||||
Projected benefit obligation | $ | 6,740 | $ | 200,472 | $ | 87,455 | $ | 225,885 | |||||||||||||||||||||
Fair value of plan assets | 5,820 | 171,413 | 84,007 | 167,170 | |||||||||||||||||||||||||
The PBO for the unfunded excess benefit plan was $13 million at December 31, 2013 as compared to $14 million in 2012, and is included under “U.S.” 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, 2013 and 2012. 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. | |||||||||||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||
Non-U.S. | U.S. | Non-U.S. | U.S. | ||||||||||||||||||||||||||
Accumulated benefit obligation | $ | 6,493 | $ | 11,997 | $ | 6,481 | $ | 185,961 | |||||||||||||||||||||
Fair value of plan assets | 5,820 | — | 5,074 | 167,170 | |||||||||||||||||||||||||
The ABO for the unfunded excess benefit plan was $12 million at December 31, 2013 as compared to $13 million in 2012, and is included under “U.S.” in the above tables. | |||||||||||||||||||||||||||||
Defined Benefit Plans—Key Assumptions | |||||||||||||||||||||||||||||
The key assumptions for the plans are summarized below: | |||||||||||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||
Non-U.S. | U.S. | Non-U.S. | U.S. | ||||||||||||||||||||||||||
Weighted-average assumptions used to determine benefit obligations: | |||||||||||||||||||||||||||||
Discount Rate | 3.9%-4.7% | 3.9%-5.1% | 3.6%-4.5% | 3.1%-4.2% | |||||||||||||||||||||||||
Rate of compensation increase | 3.6%-4.5% | 5.00% | 3.6%-4.1% | 5.00% | |||||||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||||||
Non-U.S. | U.S. | Non-U.S. | U.S. | Non-U.S. | U.S. | ||||||||||||||||||||||||
Weighted-average assumptions used to determine periodic benefit cost: | |||||||||||||||||||||||||||||
Discount Rate | 2.5%-4.5% | 3.1%-4.2% | 4.7%-5.0% | 4.3%-4.7% | 5.3%-5.4% | 5.0%-5.8% | |||||||||||||||||||||||
Expected long-term return on assets | 2.3%-5.7% | 7.80% | 3.9%-5.4% | 7.80% | 2.2%-6.3% | 7.80% | |||||||||||||||||||||||
Rate of compensation increase | 3.6%-4.1% | 5.00% | 2.3%-4.4% | 5.00% | 3.9%-4.6% | 5.00% | |||||||||||||||||||||||
The discount rate used to calculate the net present value of future benefit obligations for our U.S. plan 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 plan reasonably match this index. For non-U.S. plans, the discount rates used to calculate the net present value of future benefit obligations are determined by using a yield curve of high quality bond portfolios with an average maturity approximating that of the liabilities. | |||||||||||||||||||||||||||||
We employ third-party consultants for our U.S. and non-U.S. plans that use a portfolio return model to assess the initial reasonableness of the expected long-term rate of return on plan assets. To develop 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. | |||||||||||||||||||||||||||||
Defined Benefit Plans—Plan Assets | |||||||||||||||||||||||||||||
Non-U.S. Plans | |||||||||||||||||||||||||||||
Both the Noble Enterprises Limited and Noble Drilling (Nederland) B.V. pension plans have a targeted asset allocation of 100 percent debt securities. The investment objective for the Noble Enterprises Limited U.S. Dollar plan assets is to earn a favorable return against the Citigroup World Governmental Bond Index for all maturities greater than one year. The investment objective for both the Noble Enterprises Limited (“NEL”) and the Noble Drilling (Nederland) B.V. (“NDNBV”) Euro plan assets is to earn a favorable return against the Barclays Capital Euro Aggregate Unhedged index and the Customized Benchmark for Long Duration Fund for all maturities greater than one year. We evaluate the performance of these plans on an annual basis. | |||||||||||||||||||||||||||||
The Noble Drilling (Land Support) Limited pension plan has a target asset allocation of 70 percent equity securities and 30 percent debt securities. The investment objective of the plan, as adopted by the plan’s trustees, is to achieve a favorable return against a benchmark of blended United Kingdom market indices. By achieving this objective, the trustees believe the plan will be able to avoid significant volatility in the contribution rate and provide sufficient plan assets to cover the plan’s benefit obligations were the plan to be liquidated. To achieve these objectives, the trustees have given the plan’s investment managers full discretion in the day-to-day management of the plan’s assets. The plan’s assets are invested with two investment managers. The performance objective communicated to one of these investment managers is to exceed a blend of FTSE A Over 15 Year Gilts index and iBoxx Sterling Non Gilts index by 1.25 percent per annum. The performance objective communicated to the other investment manager is to exceed a blend of FTSE’s All Share index, North America index, Europe index and Pacific Basin index by 1.00 to 2.00 percent per annum. This investment manager is prohibited by the trustees from investing in real estate. The trustees meet with the investment managers periodically to review and discuss their investment performance. | |||||||||||||||||||||||||||||
The actual fair values of Non-U.S. pension plans as of December 31, 2013 and 2012 are as follows: | |||||||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||
Estimated Fair Value | |||||||||||||||||||||||||||||
Measurements | |||||||||||||||||||||||||||||
Quoted | Significant | ||||||||||||||||||||||||||||
Prices in | Other | Significant | |||||||||||||||||||||||||||
Active | Observable | Unobservable | |||||||||||||||||||||||||||
Carrying | Markets | Inputs | Inputs | ||||||||||||||||||||||||||
Amount | (Level 1) | (Level 2) | (Level 3) | ||||||||||||||||||||||||||
Cash | $ | 207 | $ | 207 | $ | — | $ | — | |||||||||||||||||||||
Equity securities: | |||||||||||||||||||||||||||||
International companies | $ | 54,722 | $ | 54,722 | $ | — | $ | — | |||||||||||||||||||||
Fixed income securities: | |||||||||||||||||||||||||||||
Corporate bonds | $ | 41,767 | $ | — | $ | 41,767 | $ | — | |||||||||||||||||||||
Other | 77,561 | — | — | 77,561 | |||||||||||||||||||||||||
Total | $ | 174,257 | $ | 54,929 | $ | 41,767 | $ | 77,561 | |||||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||||||
Estimated Fair Value | |||||||||||||||||||||||||||||
Measurements | |||||||||||||||||||||||||||||
Quoted | Significant | ||||||||||||||||||||||||||||
Prices in | Other | Significant | |||||||||||||||||||||||||||
Active | Observable | Unobservable | |||||||||||||||||||||||||||
Carrying | Markets | Inputs | Inputs | ||||||||||||||||||||||||||
Amount | (Level 1) | (Level 2) | (Level 3) | ||||||||||||||||||||||||||
Cash | $ | 7,158 | $ | 7,158 | $ | — | $ | — | |||||||||||||||||||||
Equity securities: | |||||||||||||||||||||||||||||
International companies | $ | 45,560 | $ | 45,560 | $ | — | $ | — | |||||||||||||||||||||
Fixed income securities: | |||||||||||||||||||||||||||||
Corporate bonds | $ | 22,189 | $ | — | $ | 22,189 | $ | — | |||||||||||||||||||||
Other | 76,912 | — | — | 76,912 | |||||||||||||||||||||||||
Total | $ | 151,819 | $ | 52,718 | $ | 22,189 | $ | 76,912 | |||||||||||||||||||||
At December 31, 2013, assets of both NEL and NDNBV are invested in instruments that are similar in form to a guaranteed insurance contract. There are no observable market values for these assets (Level 3); however, the amounts listed as plan assets were materially similar to the anticipated benefit obligations that were anticipated under the plan. Amounts were therefore calculated using actuarial assumptions completed by third-party consultants employed by Noble. The following table details the activity related to these investments during the year. | |||||||||||||||||||||||||||||
Market | |||||||||||||||||||||||||||||
Value | |||||||||||||||||||||||||||||
Balance as of December 31, 2012 | $ | 76,912 | |||||||||||||||||||||||||||
Assets sold/benefits paid | (776 | ) | |||||||||||||||||||||||||||
Gain on exchange rate | 3,478 | ||||||||||||||||||||||||||||
Loss on investment | (2,053 | ) | |||||||||||||||||||||||||||
Balance as of December 31, 2013 | $ | 77,561 | |||||||||||||||||||||||||||
U.S. Plans | |||||||||||||||||||||||||||||
The Trust invests in equity securities, fixed income debt securities, and cash equivalents and other short-term investments. The Trust may invest in these investments directly or through pooled vehicles, including mutual funds. | |||||||||||||||||||||||||||||
The Company’s overall investment strategy, or target range, is to achieve a mix of approximately 67 percent in equity securities, 32 percent in debt securities and 1 percent in cash holdings. Actual results may deviate from the target range, however any deviation from the target range of asset allocations must be approved by the Trust’s governing committee. | |||||||||||||||||||||||||||||
The performance objective of the Trust is to outperform the return of the Total Index Composite as constructed to reflect the target allocation weightings for each asset class. This objective should be met over a market cycle, which is defined as a period not less than three years or more than five years. U.S. equity securities (common stock, convertible preferred stock and convertible bonds) should achieve a total return (after fees) that exceeds the total return of an appropriate market index over a full market cycle of three to five years. Non-U.S. equity securities (common stock, convertible preferred stock and convertible bonds), either from developed or emerging markets, should achieve a total return (after fees) that exceeds the total return of an appropriate market index over a full market cycle of three to five years. Fixed income debt securities should achieve a total return (after fees) that exceeds the total return of an appropriate market index over a full market cycle of three to five years. Cash equivalent and short-term investments should achieve relative performance better than the 90-day Treasury bills. When mutual funds are used by the Trust, those mutual funds should achieve a total return that equals or exceeds the total return of each fund’s appropriate Lipper or Morningstar peer category over a full market cycle of three to five years. Lipper and Morningstar are independent mutual fund rating and information services. | |||||||||||||||||||||||||||||
For investments in equity securities, no individual options or financial futures contracts are purchased unless approved in writing by the Trust’s governing committee. In addition, no private placements or purchases of venture capital are allowed. The target amount in international equities is 20 percent of plan assets and may not exceed 23 percent of plan assets. Of the international equities amount, no more than 30 percent can be related to any particular country. The Trust’s equity managers vote all proxies in the best interest of the Trust without regards to social issues. The Trust’s governing committee reserves the right to comment on and exercise control over the response to any individual proxy solicitation. | |||||||||||||||||||||||||||||
For fixed income debt securities, corporate bonds purchased are primarily limited to investment grade securities as established by Moody’s or Standard & Poor’s. The total fixed income exposure from any single non-government or government agency issuer shall not exceed 10 percent of the Trust’s fixed income holdings. The average duration of the total portfolio shall not exceed the Barclays Capital Aggregate Bond Index by 1.5 years. All interest and principal receipts are swept, as received, into an alternative cash management vehicle until reallocated in accordance with the Trust’s core allocation. | |||||||||||||||||||||||||||||
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. | |||||||||||||||||||||||||||||
For investments in cash equivalent and short-term investments, the Trust utilizes a money market mutual fund which invests in U.S. government and agency obligations, repurchase agreements collateralized by U.S. government or agency securities, commercial paper, bankers’ acceptances, certificate of deposits, delayed delivery transactions, reverse repurchase agreements, time deposits and Euro obligations. Bankers’ acceptances shall be made in larger banks (ranked by assets) rated “Aa” or better by Moody’s and in conformance with all FDIC regulations concerning capital requirements. | |||||||||||||||||||||||||||||
Equity securities include our shares in the amounts of $4 million (2.1 percent of total U.S. plan assets) and $4 million (2.3 percent of total U.S. plan assets) at December 31, 2013 and 2012, respectively. | |||||||||||||||||||||||||||||
The actual fair values of U.S. pension plan assets as of December 31, 2013 and 2012 are as follows: | |||||||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||
Estimated Fair Value | |||||||||||||||||||||||||||||
Measurements | |||||||||||||||||||||||||||||
Quoted | Significant | ||||||||||||||||||||||||||||
Prices in | Other | Significant | |||||||||||||||||||||||||||
Active | Observable | Unobservable | |||||||||||||||||||||||||||
Carrying | Markets | Inputs | Inputs | ||||||||||||||||||||||||||
Amount | (Level 1) | (Level 2) | (Level 3) | ||||||||||||||||||||||||||
Cash | $ | 2,184 | $ | 2,184 | $ | — | $ | — | |||||||||||||||||||||
Equity securities: | |||||||||||||||||||||||||||||
United States | $ | 104,899 | $ | 80,714 | $ | 24,185 | $ | — | |||||||||||||||||||||
International | 33,012 | 33,012 | — | — | |||||||||||||||||||||||||
Fixed income securities: | |||||||||||||||||||||||||||||
Corporate bonds | $ | 60,916 | $ | 60,916 | $ | — | $ | — | |||||||||||||||||||||
Total | $ | 201,011 | $ | 176,826 | $ | 24,185 | $ | — | |||||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||||||
Estimated Fair Value | |||||||||||||||||||||||||||||
Measurements | |||||||||||||||||||||||||||||
Quoted | Significant | ||||||||||||||||||||||||||||
Prices in | Other | Significant | |||||||||||||||||||||||||||
Active | Observable | Unobservable | |||||||||||||||||||||||||||
Carrying | Markets | Inputs | Inputs | ||||||||||||||||||||||||||
Amount | (Level 1) | (Level 2) | (Level 3) | ||||||||||||||||||||||||||
Cash | $ | 1,609 | $ | 1,609 | $ | — | $ | — | |||||||||||||||||||||
Equity securities: | |||||||||||||||||||||||||||||
United States | $ | 79,264 | $ | 60,112 | $ | 19,152 | $ | — | |||||||||||||||||||||
International | 34,466 | 34,466 | — | — | |||||||||||||||||||||||||
Fixed income securities: | |||||||||||||||||||||||||||||
Corporate bonds | $ | 51,831 | $ | 51,831 | $ | — | $ | — | |||||||||||||||||||||
Total | $ | 167,170 | $ | 148,018 | $ | 19,152 | $ | — | |||||||||||||||||||||
While the underlying investments related to the equity securities are traded in active markets, which is a Level 1 measurement, the funds we own the investments through are not themselves actively traded, and therefore are being presented as a Level 2 measurement at both December 31, 2013 and 2012. | |||||||||||||||||||||||||||||
As of December 31, 2013, no single security made up more than 10 percent of total assets of either the U.S. or the Non-U.S. plans. | |||||||||||||||||||||||||||||
Defined Benefit Plans—Cash Flows | |||||||||||||||||||||||||||||
In 2013, we made total contributions of $9 million and $6 million to our non-U.S. and U.S. pension plans, respectively. In 2012, we made total contributions of $6 million and $11 million to our non-U.S. and U.S. pension plans, respectively. In 2011, we made total contributions of $6 million and $5 million to our non-U.S. and U.S. pension plans, respectively. We expect our aggregate minimum contributions to our non-U.S. and U.S. plans in 2014, subject to applicable law, to be $11 million and $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, 2013: | |||||||||||||||||||||||||||||
Payments by Period | |||||||||||||||||||||||||||||
Total | 2014 | 2015 | 2016 | 2017 | 2018 | Thereafter | |||||||||||||||||||||||
Estimated benefit payments | |||||||||||||||||||||||||||||
Non U.S. plan | $ | 40,007 | $ | 2,585 | $ | 2,792 | $ | 2,997 | $ | 3,308 | $ | 3,327 | $ | 24,998 | |||||||||||||||
U.S. plan | 108,134 | 7,086 | 6,203 | 8,272 | 8,001 | 9,112 | 69,460 | ||||||||||||||||||||||
Total estimated benefit payments | $ | 148,141 | $ | 9,671 | $ | 8,995 | $ | 11,269 | $ | 11,309 | $ | 12,439 | $ | 94,458 | |||||||||||||||
Other Benefit Plans | |||||||||||||||||||||||||||||
We sponsor the Restoration Plan, which is a nonqualified, unfunded employee benefit plan under which certain highly compensated employees may elect to defer compensation in excess of amounts deferrable under our 401(k) savings plan. The Restoration Plan has no assets, and amounts withheld for the 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, 2013 and 2012, our liability for the Restoration Plan was $8 million and $7 million, respectively, and is included in “Accrued payroll and related costs.” | |||||||||||||||||||||||||||||
In 2005 we enacted a profit sharing plan, the Noble Drilling Corporation Profit Sharing Plan, which covers eligible employees, as defined. Participants in the plan become fully vested in the plan after five years of service, or three years beginning in 2007. 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 $5 million, $4 million and $2 million in 2013, 2012 and 2011, respectively. | |||||||||||||||||||||||||||||
We sponsor a 401(k) savings plan and other retirement, health and welfare plans for the benefit of our employees. The cost of maintaining these plans aggregated $94 million, $84 million and $61 million in 2013, 2012 and 2011, respectively. We do not provide post-retirement benefits (other than pensions) or any post-employment benefits to our employees. |
Derivative_Instruments_and_Hed
Derivative Instruments and Hedging Activities | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Derivative Instruments And Hedging Activities Disclosure [Abstract] | ' | ||||||||||||||||||||||||
Derivative Instruments and Hedging Activities | ' | ||||||||||||||||||||||||
Note 14- Derivative Instruments and Hedging Activities | |||||||||||||||||||||||||
We periodically enter into derivative instruments to manage our exposure to fluctuations in interest rates and foreign currency exchange 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 were we a party to leveraged derivatives. During the period, we maintained certain foreign currency forward contracts that did not qualify under the FASB standards for hedge accounting treatment and therefore, changes in fair values were recognized as either income or loss in our consolidated income statement. | |||||||||||||||||||||||||
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. For interest rate swaps, we evaluate all material terms between the swap and the underlying debt obligation, known in FASB standards as the “long-haul method”. Any change in fair value resulting from ineffectiveness is recognized immediately in earnings. During 2011, we recognized a loss of $1.2 million in other income due to interest rate swap hedge ineffectiveness. No income or loss was recognized during 2013 and 2012 due to hedge ineffectiveness. | |||||||||||||||||||||||||
Cash Flow Hedges | |||||||||||||||||||||||||
Our North Sea and Brazil operations have a significant amount of their cash operating expenses payable in local currencies. To limit the potential risk of currency fluctuations, we have historically maintained short-term forward contracts settling monthly in their respective local currencies. During 2013, we entered into forward contracts of approximately $128 million, all of which settled during the year. At both December 31, 2013 and 2012, we had no outstanding derivative contracts. | |||||||||||||||||||||||||
Our two joint ventures had maintained interest rate swaps which were classified as cash flow hedges. The purpose of these hedges was to satisfy bank covenants of the then outstanding credit facilities and to limit exposure to changes in interest rates. In February 2011, the outstanding balances of the joint venture credit facilities and the related interest rate swaps were settled and terminated. As a result of these transactions, we recognized a gain of $1 million during the year ended December 31, 2011. | |||||||||||||||||||||||||
The balance of the net unrealized gain/(loss) related to our cash flow hedges included in AOCL in the Consolidated Balance Sheets and related activity is as follows: | |||||||||||||||||||||||||
2012 | 2011 | ||||||||||||||||||||||||
Net unrealized gain (loss) at beginning of period | $ | (3,061 | ) | $ | 1,970 | ||||||||||||||||||||
Activity during period: | |||||||||||||||||||||||||
Settlement of foreign currency forward contracts during the period | 3,061 | (1,604 | ) | ||||||||||||||||||||||
Settlement of interest rate swaps during the period | — | (366 | ) | ||||||||||||||||||||||
Net unrealized loss on outstanding foreign currency forward contracts | — | (3,061 | ) | ||||||||||||||||||||||
Net unrealized loss at end of period | $ | — | $ | (3,061 | ) | ||||||||||||||||||||
Foreign Currency Forward Contracts | |||||||||||||||||||||||||
The Bully 2 joint venture maintained foreign currency forward contracts to help mitigate the risk of currency fluctuation of the Singapore Dollar for the construction of the Noble Bully II drillship. These contracts were not designated for hedge accounting treatment under FASB standards, and therefore, changes in fair values were recognized as either income or loss in our Consolidated Income Statement. These contracts are referred to as non-designated derivatives in the tables to follow, and all were settled during the first quarter of 2011. For the year ended December 31, 2011, we recognized a loss of $0.5 million related to these foreign currency forward contracts. | |||||||||||||||||||||||||
Financial Statement Presentation | |||||||||||||||||||||||||
To supplement the fair value disclosures in Note 15, the following summarizes the recognized gains and losses of cash flow hedges and non-designated derivatives through AOCL or through “other income” for the years ended December 31, 2013 and 2012: | |||||||||||||||||||||||||
Gain/(loss) recognized | Gain reclassified from | Gain/(loss) recognized | |||||||||||||||||||||||
through AOCL | AOCL to “other | through “other income” | |||||||||||||||||||||||
income” | |||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||
Cash flow hedges | |||||||||||||||||||||||||
Foreign currency forward contracts | $ | (2,526 | ) | $ | — | $ | 2,526 | $ | 3,061 | $ | — | $ | — | ||||||||||||
During the year ended December 31, 2011, in connection with the settlement of our interest rate swaps, $1 million was reclassified from AOCL to “gain on contract extinguishments, net”. | |||||||||||||||||||||||||
For cash flow presentation purposes, cash outflows of $29 million were recognized in the financing activities section related to the settlement of interest rate swaps in 2011. All other amounts are recognized through changes in operating activities and are recognized through changes in other assets and liabilities. |
Financial_Instruments_and_Cred
Financial Instruments and Credit Risk | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||
Financial Instruments and Credit Risk | ' | ||||||||||||||||
Note 15- Financial Instruments and Credit Risk | |||||||||||||||||
The following table presents the carrying amount and estimated fair value as of December 31, 2013 and 2012 of our financial instruments recognized at fair value on a recurring basis: | |||||||||||||||||
December 31, 2013 | |||||||||||||||||
Estimated Fair Value Measurements | |||||||||||||||||
Quoted | Significant | ||||||||||||||||
Prices in | Other | Significant | |||||||||||||||
Active | Observable | Unobservable | |||||||||||||||
Carrying | Markets | Inputs | Inputs | ||||||||||||||
Amount | (Level 1) | (Level 2) | (Level 3) | ||||||||||||||
Assets— | |||||||||||||||||
Marketable securities | $ | 7,230 | $ | 7,230 | $ | — | $ | — | |||||||||
December 31, 2012 | |||||||||||||||||
Estimated Fair Value | |||||||||||||||||
Measurements | |||||||||||||||||
Quoted | Significant | ||||||||||||||||
Prices in | Other | Significant | |||||||||||||||
Active | Observable | Unobservable | |||||||||||||||
Carrying | Markets | Inputs | Inputs | ||||||||||||||
Amount | (Level 1) | (Level 2) | (Level 3) | ||||||||||||||
Assets— | |||||||||||||||||
Marketable securities | $ | 5,816 | $ | 5,816 | $ | — | $ | — | |||||||||
The derivative instruments have been valued using actively quoted prices and quotes obtained from the counterparties to the derivative agreements. Our cash and cash equivalents, accounts receivable and accounts payable are by their nature short-term. As a result, the carrying values included in the accompanying Consolidated Balance Sheets approximate fair value. | |||||||||||||||||
Concentration of Credit Risk | |||||||||||||||||
The market for our services is the offshore oil and gas industry, and our customers consist primarily of government-owned oil companies, major integrated oil companies and independent oil and gas producers. We perform ongoing credit evaluations of our customers and do not require material collateral. We maintain reserves for potential credit losses when necessary. Our results of operations and financial condition should be considered in light of the fluctuations in demand experienced by drilling contractors as changes in oil and gas producers’ expenditures and budgets occur. These fluctuations can impact our results of operations and financial condition as supply and demand factors directly affect utilization and dayrates, which are the primary determinants of our net cash provided by operating activities. | |||||||||||||||||
Revenues from Shell and its affiliates accounted for approximately 41 percent, 32 percent and 24 percent of our consolidated operating revenues in 2013, 2012 and 2011, respectively. Revenues from Petrobras accounted for approximately 12 percent, 14 percent and 18 percent of our consolidated operating revenues in 2013, 2012 and 2011, respectively. Revenues from Pemex accounted for approximately 15 percent of our consolidated operating revenues in 2011. Pemex did not account for more than 10 percent of our total operating revenues in either 2013 or 2012. No other customer accounted for more than 10 percent of our consolidated operating revenues in 2013, 2012 and 2011. |
Commitments_and_Contingencies
Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2013 | |
Commitments And Contingencies Disclosure [Abstract] | ' |
Commitments and Contingencies | ' |
Note 16 – Commitments and Contingencies | |
The Noble Homer Ferrington was under contract with a subsidiary of ExxonMobil Corporation (“ExxonMobil”), which entered into an assignment agreement with BP for a two-well farmout of the rig in Libya after successfully drilling two wells with the rig for ExxonMobil. In August 2010, BP attempted to terminate the assignment agreement claiming that the rig was not in the required condition, and ExxonMobil informed us that we must look to BP for payment of the dayrate during the assignment period. In August 2010, we initiated arbitration proceedings under the drilling contract against both BP and ExxonMobil. We do not believe BP had the right to terminate the assignment agreement and believe the rig was ready to operate under the drilling contract. The rig operated under farmout arrangements from March 2011 to the conclusion of the contract in the second quarter of 2012. We believe we are owed dayrate by either or both of these clients. The operating dayrate was approximately $538,000 per day for the work in Libya. BP and ExxonMobil have asserted counterclaims against us for alleged costs and damages incurred in connection with the assignment agreement. The arbitration process is proceeding, and we intend to vigorously pursue these claims. As a result of the uncertainties noted above, we have not recognized any revenue during the assignment period and the matter could have a material positive effect on our results of operations or cash flows in the period the matter is resolved should the arbitration panel ultimately rule in our favor. | |
In August 2007, we entered into a drilling contract with Marathon Oil Company (“Marathon”) for the Noble Jim Day to operate in the U.S. Gulf of Mexico. On January 1, 2011, Marathon provided notice that it was terminating the contract. Marathon’s stated reason for the termination was that the rig had not been accepted by Marathon by December 31, 2010, and Marathon also maintained that a force majeure condition existed under the contract. The contract contained a provision allowing Marathon to terminate if the rig had not commenced operations by December 31, 2010. We believe the rig was ready to commence operations and should have been accepted by Marathon. In March 2011, we filed suit in Texas State District Court against Marathon seeking damages for its actions. The contract term was for four years, and we contracted the rig for much of the original term with other customers. In December 2013, we amicably settled the lawsuit with Marathon. | |
In November 2012, the U.S. Coast Guard in Alaska conducted an inspection of our drillship, the Noble Discoverer, and cited a number of deficiencies to be remediated, including issues relating to the main propulsion and safety management systems. We initiated a comprehensive effort to address the deficiencies identified by the Coast Guard and commenced an ongoing dialogue with the agency to keep it apprised of our progress. We began an internal investigation in conjunction with the Coast Guard inspection, and the Coast Guard then began its own investigation. We reported certain potential violations of applicable law to the Coast Guard identified as a result of our internal investigation. These related to what we believe were certain unauthorized disposals of collected deck and sea water from the Noble Discoverer, collected, treated deck water from the Kulluk and potential record-keeping issues with the oil record books for the Noble Discoverer, Kulluk and other rigs, and with the garbage log for the Kulluk. The Coast Guard referred the Noble Discoverer and Kulluk matters to the U.S. Department of Justice (“DOJ”) for further investigation. We are cooperating with the DOJ and Coast Guard in connection with their investigation, and are maintaining a dialogue with the DOJ. We cannot predict when the DOJ and Coast Guard will conclude the investigation and cannot provide any assurances with respect to the outcome. We expect the DOJ to seek criminal sanctions, including monetary penalties, against us, as well as potentially seek oversight of our operational compliance programs. Based on information obtained to date, we believe it is probable that we will have to pay some amount in fines and penalties to resolve this matter. However, at this time we cannot appropriately estimate the potential liability that may result and we have not made any accrual in our consolidated financial statements at December 31, 2013 related to the matter. | |
We are from time to time a party to various lawsuits that are incidental to our operations in which the claimants seek an unspecified amount of monetary damages for personal injury, including injuries purportedly resulting from exposure to asbestos on drilling rigs and associated facilities. At December 31, 2013, there were approximately 34 of these lawsuits in which we are one of many defendants. These lawsuits have been filed in the United States in the states of Louisiana, Mississippi and Texas. We intend to defend vigorously against the litigation. We do not believe the ultimate resolution of these matters will have a material adverse effect on our financial position, results of operations or cash flows. | |
We are a defendant in certain claims and litigation arising out of operations in the ordinary course of business, including certain disputes with customers over receivables discussed in Note 4, 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. | |
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. The IRS has completed its examination of our tax reporting for the taxable year ended December 31, 2008. In June 2013, the IRS examination team notified us that they were no longer proposing any adjustments with respect to our tax reporting for the taxable year ended December 31, 2008. We are due a refund for the 2008 tax year. In November 2013, the congressional Joint Committee on Taxation completed its review of this refund with no exception to the conclusions reached by the IRS. The IRS began its examination of our tax reporting for the taxable year ended December 31, 2009. We believe that we have accurately reported all amounts in our 2009 tax returns. Furthermore, we are currently contesting several non-U.S. tax assessments and may contest future assessments. We believe the ultimate resolution of the outstanding assessments, for which we have not made any accrual, will not have a material adverse effect on our consolidated financial statements. We recognize uncertain tax positions that we believe have a greater than 50 percent likelihood of being sustained. We cannot predict or provide assurance as to the ultimate outcome of any existing or future assessments. | |
During the second quarter of 2013, we reached an agreement with the tax authorities in Mexico resolving certain previously disclosed tax assessments. This settlement removed potential contingent tax exposure of $502 million for periods prior to 2007, which includes the assessments for years 2002 through 2005 of approximately $348 million, as well as settlement for 2006. The settlement of these assessments did not have a material impact on our consolidated financial statements. | |
Audit claims of approximately $320 million attributable to income, customs and other business taxes have been assessed against us. We have contested, or intend to contest, these assessments, including through litigation if necessary, and we believe the ultimate resolution, for which we have not made any accrual, will not have a material adverse effect on our consolidated financial statements. Tax authorities may issue additional assessments or pursue legal actions as a result of tax audits and we cannot predict or provide assurance as to the ultimate outcome of such assessments and legal actions. | |
We maintain certain insurance coverage against specified marine perils, which includes physical damage and loss of hire. Damage caused by hurricanes has negatively impacted the energy insurance market, resulting in more restrictive and expensive coverage for U.S. named windstorm perils. Accordingly, we have elected to significantly reduce the named windstorm insurance on our rigs operating in the U.S. Gulf of Mexico. Presently, we insure the Noble Jim Thompson, Noble Amos Runner and Noble Driller for “total loss only” when caused by a named windstorm. For the Noble Bully I, our customer assumes the risk of loss due to a named windstorm event, pursuant to the terms of the drilling contract, through the purchase of insurance coverage (provided that we are responsible for any deductible under such policy) or, at its option, the assumption of the risk of loss up to the insured value in lieu of the purchase of such insurance. The remaining rigs in the U.S. Gulf of Mexico are self-insured for named windstorm perils. Our rigs located in the Mexico portion of the Gulf of Mexico remain covered by commercial insurance for windstorm damage. In addition, we maintain physical damage deductibles on our rigs ranging from $15 million to $25 million per occurrence, depending on location. The loss of hire coverage applies only to our rigs operating under contract with a dayrate equal to or greater than $200,000 a day and is subject to a 45-day waiting period for each unit and each occurrence. | |
Although we maintain insurance in the geographic areas in which we operate, pollution, reservoir damage and environmental risks generally are not fully insurable. Our insurance policies and contractual rights to indemnity may not adequately cover our losses or may have exclusions of coverage for some losses. We do not have insurance coverage or rights to indemnity for all risks, including loss of hire insurance on most of the rigs in our fleet. Uninsured exposures may include expatriate activities prohibited by U.S. laws and regulations, radiation hazards, certain loss or damage to property on board our rigs and losses relating to shore-based terrorist acts or strikes. If a significant accident or other event occurs and is not fully covered by insurance or contractual indemnity, it could materially adversely affect our financial position, results of operations or cash flows. Additionally, there can be no assurance that those parties with contractual obligations to indemnify us will necessarily be financially able to indemnify us against all these risks. | |
We carry protection and indemnity insurance covering marine third party liability exposures, which also includes coverage for employer’s liability resulting from personal injury to our offshore drilling crews. Our protection and indemnity policy currently has a standard deductible of $10 million per occurrence, with maximum liability coverage of $750 million. | |
In connection with our capital expenditure program, we had outstanding commitments, including shipyard and purchase commitments of approximately $2.0 billion at December 31, 2013. | |
We have entered into agreements with certain of our executive officers, as well as certain other employees. These agreements become effective upon a change of control of Noble-UK (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 remain effective for three years thereafter. These agreements provide for compensation and certain other benefits under such circumstances. | |
Nigerian Operations | |
During the fourth quarter of 2007, our Nigerian subsidiary received letters from the Nigerian Maritime Administration and Safety Agency, or NIMASA, seeking to collect a 2 percent surcharge on contract amounts under contracts performed by “vessels,” within the meaning of Nigeria’s cabotage laws, engaged in the Nigerian coastal shipping trade. Although we do not believe that these laws apply to our ownership of drilling rigs, NIMASA is seeking to apply a provision of the Nigerian cabotage laws (which became effective on May 1, 2004) to our offshore drilling rigs by considering these rigs to be “vessels” within the meaning of those laws and therefore subject to the surcharge, which is imposed only upon “vessels.” Our offshore drilling rigs are not engaged in the Nigerian coastal shipping trade and are not in our view “vessels” within the meaning of Nigeria’s cabotage laws. In January 2008, we filed an originating summons against NIMASA and the Minister of Transportation in the Federal High Court of Lagos, Nigeria seeking, among other things, a declaration that our drilling operations do not constitute “coastal trade” or “cabotage” within the meaning of Nigeria’s cabotage laws and that our offshore drilling rigs are not “vessels” within the meaning of those laws. In February 2009, NIMASA filed suit against us in the Federal High Court of Nigeria seeking collection of the cabotage surcharge with respect to one of our rigs. In August 2009, the court issued a favorable ruling in response to our originating summons stating that drilling operations do not fall within the cabotage laws and that drilling rigs are not vessels for purposes of those laws. The court also issued an injunction against the defendants prohibiting their interference with our drilling rigs or drilling operations. NIMASA appealed the court’s ruling on procedural grounds, and the court dismissed NIMASA’s lawsuit filed against us in February 2009. In December 2013, the court of appeals ruled in favor of NIMASA and quashed the High Court’s decision in our favor, although there is no adverse ruling against us with respect to the merits. We intend to appeal this latest decision and take further appropriate legal action to resist the application of Nigeria’s cabotage laws to our drilling rigs. The outcome of any such legal action and the extent to which we may ultimately be responsible for the surcharge is uncertain. If it is ultimately determined that offshore drilling rigs constitute vessels within the meaning of the Nigerian cabotage laws, we may be required to pay the surcharge and comply with other aspects of the Nigerian cabotage laws, which could adversely affect future operations in Nigerian waters and require us to incur additional costs of compliance. | |
Under the Nigerian Industrial Training Fund Act of 2004, as amended (“the Act”), Nigerian companies with five or more employees must contribute annually 1 percent of their payroll to the Industrial Training Fund, or ITF, established under the Act to be used for the training of Nigerian nationals with a view towards generating a pool of indigenously trained manpower. We have not paid this amount on our expatriate workers employed by our non-Nigerian employment entity in the past as we did not believe the contribution obligation was applicable to them. In October 2012, we received a demand from the ITF for payments going back to 2004 and associated penalties in respect of these expatriate employees. In February 2013, the ITF filed suit seeking payment of these amounts. We do not believe that we owe the amount claimed. We have had discussions with the ITF to resolve the issue and do not believe the resolution of this matter will have a material adverse effect on our financial position or cash flows. | |
In 2007, we began, and voluntarily contacted the U.S. Securities and Exchange Commission (“SEC”) and the DOJ, to advise them of an internal investigation of the legality under the United States Foreign Corrupt Practices Act (“FCPA”) and local laws of certain reimbursement payments made by our Nigerian affiliate to our customs agents in Nigeria. In 2010, we finalized settlements of this matter with each of the SEC and the DOJ. Pursuant to these settlements, we agreed to pay fines and penalties to the DOJ and the SEC and to certain undertakings, including refraining from violating the FCPA and other anti-corruption laws, self-reporting any violations of the FCPA or such laws to the DOJ and reporting to the DOJ on an annual basis our progress on anti-corruption compliance matters. There are no remaining obligations under either settlement. |
Segment_and_Related_Informatio
Segment and Related Information | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
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, and the fact that all of our drilling fleet is dependent upon the worldwide oil industry. The mobile offshore drilling units comprising our offshore rig fleet operate in a single, global market for contract drilling services and are often redeployed globally due to changing demands of our customers, which consist largely of major non-U.S. and government owned/controlled oil and gas companies throughout the world. Our contract drilling services segment conducts contract drilling operations in the United States, Mexico, Brazil, the North Sea, the Mediterranean, West Africa, the Middle East, India, Asia and Australia. | |||||||||||||||||||||
The accounting policies of our reportable segment are the same as those described in the summary of significant accounting policies (see Note 1). We evaluate the performance of our operating segment based on revenues from external customers and segment profit. Summarized financial information of our reportable segment for the years ended December 31, 2013, 2012 and 2011 is shown in the following table. The “Other” column includes results of labor contract drilling services in Canada and Alaska, as well as corporate related items. The consolidated financial statements of Noble-UK include the accounts of Noble-Cayman, and Noble-UK conducts substantially all of its business through Noble-Cayman and its subsidiaries. As a result, the summarized financial information for Noble-Cayman is substantially the same as Noble-UK. | |||||||||||||||||||||
Contract | |||||||||||||||||||||
Drilling | |||||||||||||||||||||
Services | Other | Total | |||||||||||||||||||
2013 | |||||||||||||||||||||
Revenues from external customers | $ | 4,179,246 | $ | 55,044 | $ | 4,234,290 | |||||||||||||||
Depreciation and amortization | 865,126 | 14,296 | 879,422 | ||||||||||||||||||
Segment operating income | 1,121,326 | 232 | 1,121,558 | ||||||||||||||||||
Interest expense, net of amount capitalized | (695 | ) | (105,605 | ) | (106,300 | ) | |||||||||||||||
Income tax (provision)/ benefit | (183,945 | ) | 16,339 | (167,606 | ) | ||||||||||||||||
Segment profit/ (loss) | 864,810 | (82,113 | ) | 782,697 | |||||||||||||||||
Total assets (at end of period) | 15,495,071 | 722,886 | 16,217,957 | ||||||||||||||||||
2012 | |||||||||||||||||||||
Revenues from external customers | $ | 3,462,583 | $ | 84,429 | $ | 3,547,012 | |||||||||||||||
Depreciation and amortization | 745,027 | 13,594 | 758,621 | ||||||||||||||||||
Segment operating income | 772,007 | 11,793 | 783,800 | ||||||||||||||||||
Interest expense, net of amount capitalized | (394 | ) | (85,369 | ) | (85,763 | ) | |||||||||||||||
Income tax (provision)/ benefit | (163,346 | ) | 16,258 | (147,088 | ) | ||||||||||||||||
Segment profit/ (loss) | 580,468 | (58,124 | ) | 522,344 | |||||||||||||||||
Total assets (at end of period) | 13,971,189 | 636,585 | 14,607,774 | ||||||||||||||||||
2011 | |||||||||||||||||||||
Revenues from external customers | $ | 2,634,911 | $ | 60,921 | $ | 2,695,832 | |||||||||||||||
Depreciation and amortization | 647,142 | 11,498 | 658,640 | ||||||||||||||||||
Segment operating income | 477,920 | 12,573 | 490,493 | ||||||||||||||||||
Interest expense, net of amount capitalized | (1,959 | ) | (53,768 | ) | (55,727 | ) | |||||||||||||||
Income tax (provision)/ benefit | (80,317 | ) | 7,692 | (72,625 | ) | ||||||||||||||||
Segment profit/ (loss) | 406,112 | (35,214 | ) | 370,898 | |||||||||||||||||
The following table presents revenues and identifiable assets by country based on the location of the service provided: | |||||||||||||||||||||
Revenues | Identifiable Assets | ||||||||||||||||||||
Year Ended December 31, | As of December 31, | ||||||||||||||||||||
2013 | 2012 | 2011 | 2013 | 2012 | |||||||||||||||||
United States | $ | 1,338,634 | $ | 1,061,255 | $ | 524,750 | $ | 5,525,839 | $ | 5,259,294 | |||||||||||
Australia | 133,214 | 42,353 | — | 624,238 | 635,171 | ||||||||||||||||
Benin | 50,821 | — | — | 803,788 | — | ||||||||||||||||
Brazil | 839,993 | 714,798 | 572,015 | 3,921,306 | 3,851,387 | ||||||||||||||||
Cameroon | 55,803 | — | 17,029 | 48,973 | 9,220 | ||||||||||||||||
Canada | 36,965 | 38,709 | 39,186 | 13,672 | 13,952 | ||||||||||||||||
China (1) | — | — | — | — | 552,721 | ||||||||||||||||
Denmark | 22,850 | 14,119 | — | — | 21,999 | ||||||||||||||||
Egypt | 33,685 | 103,380 | 11,261 | — | — | ||||||||||||||||
India | 103,282 | 58,355 | 102,432 | 188,609 | 216,686 | ||||||||||||||||
Israel | 21,109 | 118,485 | 25,566 | — | 203,442 | ||||||||||||||||
Malaysia | 33,841 | — | — | 23,002 | — | ||||||||||||||||
Malta | 7,453 | 35,776 | 44,713 | 454,951 | 165,297 | ||||||||||||||||
Mexico | 367,734 | 329,896 | 402,129 | 439,098 | 537,931 | ||||||||||||||||
New Zealand | 11,995 | 9,563 | 68,153 | 663,165 | — | ||||||||||||||||
Nigeria | 107,739 | 149,082 | 58,501 | 31,701 | 65,340 | ||||||||||||||||
Oman | 12,051 | 35,400 | 4,607 | 47,664 | 72,637 | ||||||||||||||||
Qatar | 139,891 | 78,047 | 132,917 | 119,156 | 94,151 | ||||||||||||||||
Saudi Arabia | 246,083 | 220,657 | 96,655 | 584,230 | 654,551 | ||||||||||||||||
Singapore (1) | — | — | — | 618,341 | 586,510 | ||||||||||||||||
South Korea (1) | — | — | — | 894,347 | 858,909 | ||||||||||||||||
Switzerland (2) | — | — | — | 32,162 | 37,432 | ||||||||||||||||
The Netherlands | 179,718 | 210,598 | 220,489 | 339,560 | 95,465 | ||||||||||||||||
United Arab Emirates | 118,290 | 79,945 | 84,253 | 443,166 | 190,440 | ||||||||||||||||
United Kingdom | 333,697 | 207,667 | 164,559 | 400,989 | 350,333 | ||||||||||||||||
Other | 39,442 | 38,927 | 126,617 | — | 134,906 | ||||||||||||||||
Total | $ | 4,234,290 | $ | 3,547,012 | $ | 2,695,832 | $ | 16,217,957 | $ | 14,607,774 | |||||||||||
-1 | China, Singapore and South Korea consist primarily of asset values for newbuild rigs under construction in shipyards. | ||||||||||||||||||||
-2 | Switzerland assets consist of general corporate assets, which generate no external revenue for the Company. |
Supplemental_Cash_Flow_Informa
Supplemental Cash Flow Information | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Supplemental Cash Flow Information | ' | ||||||||||||
Note 18- Supplemental Cash Flow Information (Noble-UK) | |||||||||||||
The net effect of changes in other assets and liabilities on cash flows from operating activities is as follows: | |||||||||||||
December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Accounts receivable | $ | (165,233 | ) | $ | (143,010 | ) | $ | (283,268 | ) | ||||
Other current assets | (47,848 | ) | (43,246 | ) | (51,409 | ) | |||||||
Other assets | 34,757 | (385 | ) | (23,821 | ) | ||||||||
Accounts payable | 50,731 | 28,565 | (12,502 | ) | |||||||||
Other current liabilities | 61,644 | 108,385 | 72,861 | ||||||||||
Other liabilities | 2,731 | 80,431 | 87,737 | ||||||||||
$ | (63,218 | ) | $ | 30,740 | $ | (210,402 | ) | ||||||
Additional cash flow information is as follows: | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Cash paid during the period for: | |||||||||||||
Interest, net of amounts capitalized | $ | 81,897 | $ | 56,144 | $ | 46,180 | |||||||
Income taxes (net of refunds) | $ | 219,088 | $ | 148,612 | $ | 128,162 | |||||||
Noble-Cayman [Member] | ' | ||||||||||||
Supplemental Cash Flow Information | ' | ||||||||||||
Note 19- Supplemental Cash Flow Information (Noble-Cayman) | |||||||||||||
The net effect of changes in other assets and liabilities on cash flows from operating activities is as follows: | |||||||||||||
December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Accounts receivable | $ | (165,233 | ) | $ | (143,010 | ) | $ | (283,268 | ) | ||||
Other current assets | (48,186 | ) | (44,632 | ) | (49,044 | ) | |||||||
Other assets | 35,103 | (385 | ) | (26,800 | ) | ||||||||
Accounts payable | 49,980 | 28,289 | (12,524 | ) | |||||||||
Other current liabilities | 62,516 | 108,425 | 67,238 | ||||||||||
Other liabilities | 2,728 | 80,432 | 87,711 | ||||||||||
$ | (63,092 | ) | $ | 29,119 | $ | (216,687 | ) | ||||||
Additional cash flow information is as follows: | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Cash paid during the period for: | |||||||||||||
Interest, net of amounts capitalized | $ | 81,897 | $ | 56,144 | $ | 46,180 | |||||||
Income taxes (net of refunds) | $ | 216,391 | $ | 148,612 | $ | 128,162 |
Information_about_NobleCayman
Information about Noble-Cayman | 12 Months Ended | ||||||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||||||
Guarantees [Abstract] | ' | ||||||||||||||||||||||||||||||||
Information about Noble-Cayman | ' | ||||||||||||||||||||||||||||||||
Note 20- Information about Noble-Cayman | |||||||||||||||||||||||||||||||||
Guarantees of Registered Securities | |||||||||||||||||||||||||||||||||
Noble-Cayman, or one or more wholly-owned subsidiaries of Noble-Cayman, are a co-issuer or full and unconditional guarantor or otherwise obligated as of December 31, 2013 as follows: | |||||||||||||||||||||||||||||||||
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 Services 6 LLC (“NDS6”) | Noble Holding (U.S.) 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. | |||||||||||||||||||||||||||||||||
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 | ) | |||||||||||||||||||||||
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 | ) | |||||||||||||||||||||||
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 | ) | |||||||||||||||||||||||
NOBLE CORPORATION AND SUBSIDIARIES | |||||||||||||||||||||||||||||||||
CONDENSED CONSOLIDATING BALANCE SHEET | |||||||||||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||||||
(in thousands) | |||||||||||||||||||||||||||||||||
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 | $ | 402 | $ | — | $ | 4 | $ | — | $ | 109,975 | $ | — | $ | 110,382 | |||||||||||||||||
Accounts receivable | — | 34,038 | 3,325 | — | — | 911,706 | — | 949,069 | |||||||||||||||||||||||||
Taxes receivable | — | 52,307 | — | — | — | 87,722 | — | 140,029 | |||||||||||||||||||||||||
Short-term notes receivable from affiliates | — | 1,456,245 | — | 139,195 | 19,500 | 166,760 | (1,781,700 | ) | — | ||||||||||||||||||||||||
Accounts receivable from affiliates | 1,244,019 | 108,208 | 1,137,137 | 210,868 | 27,537 | 6,302,784 | (9,030,553 | ) | — | ||||||||||||||||||||||||
Prepaid expenses and other current assets | — | 6,336 | 204 | — | — | 177,808 | — | 184,348 | |||||||||||||||||||||||||
Total current assets | 1,244,020 | 1,657,536 | 1,140,666 | 350,067 | 47,037 | 7,756,755 | (10,812,253 | ) | 1,383,828 | ||||||||||||||||||||||||
Property and equipment, at cost | — | 2,340,216 | 75,856 | — | — | 16,744,278 | — | 19,160,350 | |||||||||||||||||||||||||
Accumulated depreciation | — | (310,171 | ) | (60,950 | ) | — | — | (4,260,557 | ) | — | (4,631,678 | ) | |||||||||||||||||||||
Property and equipment, net | — | 2,030,045 | 14,906 | — | — | 12,483,721 | — | 14,528,672 | |||||||||||||||||||||||||
Notes receivable from affiliates | 3,304,753 | 124,216 | — | 2,367,555 | 5,000 | 1,390,500 | (7,192,024 | ) | — | ||||||||||||||||||||||||
Investments in affiliates | 8,601,712 | 9,502,970 | 2,523,808 | 9,456,735 | 5,440,004 | — | (35,525,229 | ) | — | ||||||||||||||||||||||||
Other assets | 6,256 | 6,332 | 173 | 22,681 | 639 | 232,933 | — | 269,014 | |||||||||||||||||||||||||
Total assets | $ | 13,156,741 | $ | 13,321,099 | $ | 3,679,553 | $ | 12,197,038 | $ | 5,492,680 | $ | 21,863,909 | $ | (53,529,506 | ) | $ | 16,181,514 | ||||||||||||||||
LIABILITIES AND EQUITY | |||||||||||||||||||||||||||||||||
Current liabilities | |||||||||||||||||||||||||||||||||
Short-term notes payables from affiliates | $ | — | $ | 191,806 | $ | 114,149 | $ | — | $ | 750,000 | $ | 725,745 | $ | (1,781,700 | ) | $ | — | ||||||||||||||||
Accounts payable | — | 5,310 | 452 | — | — | 340,148 | — | 345,910 | |||||||||||||||||||||||||
Accrued payroll and related costs | — | 8,582 | 9,141 | — | — | 125,623 | — | 143,346 | |||||||||||||||||||||||||
Accounts payable to affiliates | 1,104,410 | 4,685,825 | 292,354 | 216,866 | 21,173 | 2,709,925 | (9,030,553 | ) | — | ||||||||||||||||||||||||
Taxes payable | — | 827 | 9 | — | — | 119,752 | — | 120,588 | |||||||||||||||||||||||||
Other current liabilities | 412 | 22,106 | 240 | 62,431 | 4,412 | 210,571 | — | 300,172 | |||||||||||||||||||||||||
Total current liabilities | 1,104,822 | 4,914,456 | 416,345 | 279,297 | 775,585 | 4,231,764 | (10,812,253 | ) | 910,016 | ||||||||||||||||||||||||
Long-term debt | 1,561,141 | — | — | 3,793,414 | 201,696 | — | — | 5,556,251 | |||||||||||||||||||||||||
Notes payable to affiliates | 2,042,808 | 534,683 | — | 975,000 | 260,216 | 3,379,317 | (7,192,024 | ) | — | ||||||||||||||||||||||||
Deferred income taxes | — | — | 3,275 | — | — | 222,180 | — | 225,455 | |||||||||||||||||||||||||
Other liabilities | 19,931 | 24,502 | — | — | — | 289,875 | — | 334,308 | |||||||||||||||||||||||||
Total liabilities | 4,728,702 | 5,473,641 | 419,620 | 5,047,711 | 1,237,497 | 8,123,136 | (18,004,277 | ) | 7,026,030 | ||||||||||||||||||||||||
Commitments and contingencies | |||||||||||||||||||||||||||||||||
Total shareholder equity | 8,428,039 | 7,847,458 | 3,259,933 | 7,149,327 | 4,255,183 | 12,502,531 | (35,014,432 | ) | 8,428,039 | ||||||||||||||||||||||||
Noncontrolling interests | — | — | — | — | — | 1,238,242 | (510,797 | ) | 727,445 | ||||||||||||||||||||||||
Total equity | 8,428,039 | 7,847,458 | 3,259,933 | 7,149,327 | 4,255,183 | 13,740,773 | (35,525,229 | ) | 9,155,484 | ||||||||||||||||||||||||
Total liabilities and equity | $ | 13,156,741 | $ | 13,321,099 | $ | 3,679,553 | $ | 12,197,038 | $ | 5,492,680 | $ | 21,863,909 | $ | (53,529,506 | ) | $ | 16,181,514 | ||||||||||||||||
NOBLE CORPORATION AND SUBSIDIARIES | |||||||||||||||||||||||||||||||||
CONDENSED CONSOLIDATING BALANCE SHEET | |||||||||||||||||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||||||||||
(in thousands) | |||||||||||||||||||||||||||||||||
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 | |||||||||||||||||||||||||
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 | ) | — | ||||||||||||||||||||||||
Prepaid expenses and other current assets | 235 | 1,035 | 205 | — | — | 162,406 | — | 163,881 | |||||||||||||||||||||||||
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 interests | — | — | — | — | — | 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 AND SUBSIDIARIES | |||||||||||||||||||||||||||||||||
CONDENSED CONSOLIDATING STATEMENT OF INCOME | |||||||||||||||||||||||||||||||||
Year Ended December 31, 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 | $ | — | $ | 240,631 | $ | 20,183 | $ | — | $ | — | $ | 3,886,617 | $ | (77,361 | ) | $ | 4,070,070 | ||||||||||||||||
Reimbursables | — | 8,498 | — | — | — | 103,376 | — | 111,874 | |||||||||||||||||||||||||
Labor contract drilling services | — | — | — | — | — | 52,241 | — | 52,241 | |||||||||||||||||||||||||
Other | — | — | — | — | — | 105 | — | 105 | |||||||||||||||||||||||||
Total operating revenues | — | 249,129 | 20,183 | — | — | 4,042,339 | (77,361 | ) | 4,234,290 | ||||||||||||||||||||||||
Operating costs and expenses | |||||||||||||||||||||||||||||||||
Contract drilling services | 24,039 | 92,554 | 7,930 | 110,138 | — | 1,847,324 | (77,361 | ) | 2,004,624 | ||||||||||||||||||||||||
Reimbursables | — | 6,850 | — | — | — | 78,698 | — | 85,548 | |||||||||||||||||||||||||
Labor contract drilling services | — | — | — | — | — | 36,604 | — | 36,604 | |||||||||||||||||||||||||
Depreciation and amortization | — | 62,778 | 4,539 | — | — | 809,933 | — | 877,250 | |||||||||||||||||||||||||
General and administrative | 7,380 | 7,396 | 340 | 36,050 | 1 | 13,692 | — | 64,859 | |||||||||||||||||||||||||
Loss on impairment | — | — | — | — | — | 43,688 | — | 43,688 | |||||||||||||||||||||||||
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 | (13,581 | ) | 169,578 | 12,809 | 146,188 | 1 | 2,792,493 | (77,361 | ) | 3,030,127 | |||||||||||||||||||||||
Operating income (loss) | 13,581 | 79,551 | 7,374 | (146,188 | ) | (1 | ) | 1,249,846 | — | 1,204,163 | |||||||||||||||||||||||
Other income (expense) | |||||||||||||||||||||||||||||||||
Equity earnings in affiliates, net of tax | 975,619 | 365,919 | 106,038 | 1,072,304 | (1,073,596 | ) | — | (1,446,284 | ) | — | |||||||||||||||||||||||
Interest expense, net of amounts capitalized | (127,995 | ) | (24,237 | ) | (2,346 | ) | (139,784 | ) | (45,897 | ) | (1,850,077 | ) | 2,084,036 | (106,300 | ) | ||||||||||||||||||
Interest income and other, net | 6,609 | 262,717 | (99 | ) | 154,442 | 1,569,003 | 93,490 | (2,084,036 | ) | 2,126 | |||||||||||||||||||||||
Income before income taxes | 867,814 | 683,950 | 110,967 | 940,774 | 449,509 | (506,741 | ) | (1,446,284 | ) | 1,099,989 | |||||||||||||||||||||||
Income tax provision | — | (37,487 | ) | — | — | — | (126,979 | ) | — | (164,466 | ) | ||||||||||||||||||||||
Net Income | 867,814 | 646,463 | 110,967 | 940,774 | 449,509 | (633,720 | ) | (1,446,284 | ) | 935,523 | |||||||||||||||||||||||
Net income attributable to noncontrolling interests | — | — | — | — | — | (114,314 | ) | 46,605 | (67,709 | ) | |||||||||||||||||||||||
Net income attributable to Noble Corporation | 867,814 | 646,463 | 110,967 | 940,774 | 449,509 | (748,034 | ) | (1,399,679 | ) | 867,814 | |||||||||||||||||||||||
Other comprehensive income, net | 33,285 | — | — | — | — | 33,285 | (33,285 | ) | 33,285 | ||||||||||||||||||||||||
Comprehensive income attributable to Noble Corporation | $ | 901,099 | $ | 646,463 | $ | 110,967 | $ | 940,774 | $ | 449,509 | $ | (714,749 | ) | $ | (1,432,964 | ) | $ | 901,099 | |||||||||||||||
NOBLE CORPORATION AND SUBSIDIARIES | |||||||||||||||||||||||||||||||||
CONDENSED CONSOLIDATING STATEMENT OF INCOME | |||||||||||||||||||||||||||||||||
Year Ended December 31, 2012 | |||||||||||||||||||||||||||||||||
(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 | $ | — | $ | 161,577 | $ | 20,033 | $ | — | $ | — | $ | 3,246,332 | $ | (78,580 | ) | $ | 3,349,362 | ||||||||||||||||
Reimbursables | — | 6,637 | — | — | — | 108,858 | — | 115,495 | |||||||||||||||||||||||||
Labor contract drilling services | — | — | — | — | — | 81,890 | — | 81,890 | |||||||||||||||||||||||||
Other | — | — | — | — | — | 1,196 | (931 | ) | 265 | ||||||||||||||||||||||||
Total operating revenues | — | 168,214 | 20,033 | — | — | 3,438,276 | (79,511 | ) | 3,547,012 | ||||||||||||||||||||||||
Operating costs and expenses | |||||||||||||||||||||||||||||||||
Contract drilling services | 2,646 | 63,025 | 7,476 | 82,736 | — | 1,684,593 | (79,511 | ) | 1,760,965 | ||||||||||||||||||||||||
Reimbursables | — | 5,886 | — | — | — | 88,210 | — | 94,096 | |||||||||||||||||||||||||
Labor contract drilling services | — | — | — | — | — | 46,895 | — | 46,895 | |||||||||||||||||||||||||
Depreciation and amortization | — | 60,738 | 4,526 | — | — | 691,425 | — | 756,689 | |||||||||||||||||||||||||
General and administrative | 3,036 | 7,786 | — | 35,606 | 1 | 12,937 | — | 59,366 | |||||||||||||||||||||||||
Loss on impairment | — | — | — | — | — | 20,384 | — | 20,384 | |||||||||||||||||||||||||
Gain on contract settlements/extinguishments, net | — | (4,869 | ) | — | — | — | (28,386 | ) | — | (33,255 | ) | ||||||||||||||||||||||
Total operating costs and expenses | 5,682 | 132,566 | 12,002 | 118,342 | 1 | 2,516,058 | (79,511 | ) | 2,705,140 | ||||||||||||||||||||||||
Operating income (loss) | (5,682 | ) | 35,648 | 8,031 | (118,342 | ) | (1 | ) | 922,218 | — | 841,872 | ||||||||||||||||||||||
Other income (expense) | |||||||||||||||||||||||||||||||||
Equity earnings in affiliates, net of tax | 684,446 | 472,509 | 110,820 | 807,590 | (184,163 | ) | — | (1,891,202 | ) | — | |||||||||||||||||||||||
Interest expense, net of amounts capitalized | (105,147 | ) | (44,055 | ) | (3,892 | ) | (120,361 | ) | (43,090 | ) | (663,076 | ) | 893,858 | (85,763 | ) | ||||||||||||||||||
Interest income and other, net | 7,306 | 40,845 | 8 | 135,001 | 594,328 | 121,065 | (893,858 | ) | 4,695 | ||||||||||||||||||||||||
Income before income taxes | 580,923 | 504,947 | 114,967 | 703,888 | 367,074 | 380,207 | (1,891,202 | ) | 760,804 | ||||||||||||||||||||||||
Income tax provision | — | (46,644 | ) | — | — | — | (99,444 | ) | — | (146,088 | ) | ||||||||||||||||||||||
Net Income | 580,923 | 458,303 | 114,967 | 703,888 | 367,074 | 280,763 | (1,891,202 | ) | 614,716 | ||||||||||||||||||||||||
Net income attributable to noncontrolling interests | — | — | — | — | — | (68,969 | ) | 35,176 | (33,793 | ) | |||||||||||||||||||||||
Net income attributable to Noble Corporation | 580,923 | 458,303 | 114,967 | 703,888 | 367,074 | 211,794 | (1,856,026 | ) | 580,923 | ||||||||||||||||||||||||
Other comprehensive loss, net | (41,128 | ) | — | — | — | — | (41,128 | ) | 41,128 | (41,128 | ) | ||||||||||||||||||||||
Comprehensive income attributable to Noble Corporation | $ | 539,795 | $ | 458,303 | $ | 114,967 | $ | 703,888 | $ | 367,074 | $ | 170,666 | $ | (1,814,898 | ) | $ | 539,795 | ||||||||||||||||
NOBLE CORPORATION AND SUBSIDIARIES | |||||||||||||||||||||||||||||||||
CONDENSED CONSOLIDATING STATEMENT OF INCOME | |||||||||||||||||||||||||||||||||
Year Ended December 31, 2011 | |||||||||||||||||||||||||||||||||
(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 | $ | — | $ | 134,602 | $ | 19,913 | $ | — | $ | — | $ | 2,466,701 | $ | (64,458 | ) | $ | 2,556,758 | ||||||||||||||||
Reimbursables | — | 4,351 | 12 | — | — | 74,832 | — | 79,195 | |||||||||||||||||||||||||
Labor contract drilling services | — | 4 | — | — | — | 59,000 | — | 59,004 | |||||||||||||||||||||||||
Other | — | — | — | — | — | 875 | — | 875 | |||||||||||||||||||||||||
Total operating revenues | — | 138,957 | 19,925 | — | — | 2,601,408 | (64,458 | ) | 2,695,832 | ||||||||||||||||||||||||
Operating costs and expenses | |||||||||||||||||||||||||||||||||
Contract drilling services | 3,038 | 46,305 | 7,478 | 59,865 | — | 1,319,187 | (64,458 | ) | 1,371,415 | ||||||||||||||||||||||||
Reimbursables | — | 4,125 | — | — | — | 54,314 | — | 58,439 | |||||||||||||||||||||||||
Labor contract drilling services | — | — | — | — | — | 33,885 | — | 33,885 | |||||||||||||||||||||||||
Depreciation and amortization | — | 50,462 | 3,767 | — | — | 602,976 | — | 657,205 | |||||||||||||||||||||||||
General and administrative | 1,242 | 5,025 | 1 | 33,355 | 1 | 17,163 | — | 56,787 | |||||||||||||||||||||||||
Gain on contract settlements/extinguishments, net | — | — | — | — | — | (21,202 | ) | — | (21,202 | ) | |||||||||||||||||||||||
Total operating costs and expenses | 4,280 | 105,917 | 11,246 | 93,220 | 1 | 2,006,323 | (64,458 | ) | 2,156,529 | ||||||||||||||||||||||||
Operating income (loss) | (4,280 | ) | 33,040 | 8,679 | (93,220 | ) | (1 | ) | 595,085 | — | 539,303 | ||||||||||||||||||||||
Other income (expense) | |||||||||||||||||||||||||||||||||
Equity earnings in affiliates, net of tax | 488,735 | 296,751 | 64,626 | 579,730 | 328,443 | — | (1,758,285 | ) | — | ||||||||||||||||||||||||
Interest expense, net of amounts capitalized | (69,180 | ) | (61,271 | ) | (6,110 | ) | (88,396 | ) | (29,050 | ) | (38,778 | ) | 237,058 | (55,727 | ) | ||||||||||||||||||
Interest income and other, net | 6,768 | 26,291 | (11 | ) | 63,607 | 8,709 | 134,174 | (237,058 | ) | 2,480 | |||||||||||||||||||||||
Income before income taxes | 422,043 | 294,811 | 67,184 | 461,721 | 308,101 | 690,481 | (1,758,285 | ) | 486,056 | ||||||||||||||||||||||||
Income tax provision | — | (14,933 | ) | — | — | — | (56,353 | ) | — | (71,286 | ) | ||||||||||||||||||||||
Net Income | 422,043 | 279,878 | 67,184 | 461,721 | 308,101 | 634,128 | (1,758,285 | ) | 414,770 | ||||||||||||||||||||||||
Net loss attributable to noncontrolling interests | — | — | — | — | — | (15,808 | ) | 23,081 | 7,273 | ||||||||||||||||||||||||
Net income attributable to Noble Corporation | 422,043 | 279,878 | 67,184 | 461,721 | 308,101 | 618,320 | (1,735,204 | ) | 422,043 | ||||||||||||||||||||||||
Other comprehensive loss, net | (24,101 | ) | — | — | — | — | (24,101 | ) | 24,101 | (24,101 | ) | ||||||||||||||||||||||
Noncontrolling portion of gain on interest rate swaps | 183 | — | — | — | — | 183 | (183 | ) | 183 | ||||||||||||||||||||||||
Comprehensive income attributable to Noble Corporation | $ | 398,125 | $ | 279,878 | $ | 67,184 | $ | 461,721 | $ | 308,101 | $ | 594,402 | $ | (1,711,286 | ) | $ | 398,125 | ||||||||||||||||
NOBLE CORPORATION AND SUBSIDIARIES | |||||||||||||||||||||||||||||||||
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS | |||||||||||||||||||||||||||||||||
Year Ended December 31, 2013 | |||||||||||||||||||||||||||||||||
(in thousands) | |||||||||||||||||||||||||||||||||
Other | |||||||||||||||||||||||||||||||||
Non-guarantor | |||||||||||||||||||||||||||||||||
Noble- | NHC and NDH | Subsidiaries | Consolidating | ||||||||||||||||||||||||||||||
Cayman | Combined | NDC | NHIL | NDS6 | of Noble | Adjustments | Total | ||||||||||||||||||||||||||
Cash flows from operating activities | |||||||||||||||||||||||||||||||||
Net cash from operating activities | $ | (117,993 | ) | $ | 290,552 | $ | (1,799 | ) | $ | (128,315 | ) | $ | 1,523,225 | $ | 202,960 | $ | — | $ | 1,768,630 | ||||||||||||||
Cash flows from investing activities | |||||||||||||||||||||||||||||||||
New construction and capital expenditures | — | (1,594,449 | ) | (751 | ) | — | — | (949,004 | ) | — | (2,544,204 | ) | |||||||||||||||||||||
Proceeds from disposal of assets | — | — | — | — | — | 61,000 | — | 61,000 | |||||||||||||||||||||||||
Notes receivable from affiliates | — | — | — | — | — | 294,798 | (294,798 | ) | — | ||||||||||||||||||||||||
Net cash from investing activities | — | (1,594,449 | ) | (751 | ) | — | — | (593,206 | ) | (294,798 | ) | (2,483,204 | ) | ||||||||||||||||||||
Cash flows from financing activities | |||||||||||||||||||||||||||||||||
Net change in borrowings outstanding on bank credit facilities | 1,221,333 | — | — | — | — | — | — | 1,221,333 | |||||||||||||||||||||||||
Repayment of long-term debt | (300,000 | ) | — | — | — | — | — | — | (300,000 | ) | |||||||||||||||||||||||
Dividends paid to noncontrolling interests | — | — | — | — | — | (105,388 | ) | — | (105,388 | ) | |||||||||||||||||||||||
Financing cost on credit facilities | (2,484 | ) | — | — | — | — | — | — | (2,484 | ) | |||||||||||||||||||||||
Distributions to parent company, net | (265,880 | ) | — | — | — | — | — | — | (265,880 | ) | |||||||||||||||||||||||
Advances (to) from affiliates | (241,180 | ) | 1,303,395 | 2,550 | 128,317 | (1,523,225 | ) | 330,143 | — | — | |||||||||||||||||||||||
Notes payable to affiliates | (294,798 | ) | — | — | — | — | — | 294,798 | — | ||||||||||||||||||||||||
Net cash from financing activities | 116,991 | 1,303,395 | 2,550 | 128,317 | (1,523,225 | ) | 224,755 | 294,798 | 547,581 | ||||||||||||||||||||||||
Net change in cash and cash equivalents | (1,002 | ) | (502 | ) | — | 2 | — | (165,491 | ) | — | (166,993 | ) | |||||||||||||||||||||
Cash and cash equivalents, beginning of period | 1,003 | 904 | — | 2 | — | 275,466 | — | 277,375 | |||||||||||||||||||||||||
Cash and cash equivalents, end of period | $ | 1 | $ | 402 | $ | — | $ | 4 | $ | — | $ | 109,975 | $ | — | $ | 110,382 | |||||||||||||||||
NOBLE CORPORATION AND SUBSIDIARIES | |||||||||||||||||||||||||||||||||
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS | |||||||||||||||||||||||||||||||||
Year Ended December 31, 2012 | |||||||||||||||||||||||||||||||||
(in thousands) | |||||||||||||||||||||||||||||||||
Other | |||||||||||||||||||||||||||||||||
Non-guarantor | |||||||||||||||||||||||||||||||||
Noble- | NHC and NDH | Subsidiaries | Consolidating | ||||||||||||||||||||||||||||||
Cayman | Combined | NDC | NHIL | NDS6 | of Noble | Adjustments | Total | ||||||||||||||||||||||||||
Cash flows from operating activities | |||||||||||||||||||||||||||||||||
Net cash from operating activities | $ | (86,784 | ) | $ | 35,177 | $ | 9,950 | $ | (96,642 | ) | $ | 551,358 | $ | 1,007,568 | $ | — | $ | 1,420,627 | |||||||||||||||
Cash flows from investing activities | |||||||||||||||||||||||||||||||||
New construction and capital expenditures | — | (682,477 | ) | (2,106 | ) | — | — | (1,103,971 | ) | — | (1,788,554 | ) | |||||||||||||||||||||
Notes receivable from affiliates | — | — | — | (1,188,287 | ) | — | — | 1,188,287 | — | ||||||||||||||||||||||||
Net cash from investing activities | — | (682,477 | ) | (2,106 | ) | (1,188,287 | ) | — | (1,103,971 | ) | 1,188,287 | (1,788,554 | ) | ||||||||||||||||||||
Cash flows from financing activities | |||||||||||||||||||||||||||||||||
Net change in borrowings outstanding on bank credit facilities | (635,192 | ) | — | — | — | — | — | — | (635,192 | ) | |||||||||||||||||||||||
Proceeds from issuance of senior notes, net | — | — | — | 1,186,636 | — | — | — | 1,186,636 | |||||||||||||||||||||||||
Contributions from noncontrolling interests | — | — | — | — | — | 40,000 | — | 40,000 | |||||||||||||||||||||||||
Financing cost on credit facilities | (5,221 | ) | — | — | — | — | — | — | (5,221 | ) | |||||||||||||||||||||||
Distributions to parent company, net | (175,977 | ) | — | — | — | — | — | — | (175,977 | ) | |||||||||||||||||||||||
Advances (to) from affiliates | (284,256 | ) | 647,819 | (7,844 | ) | 98,295 | (551,358 | ) | 97,344 | — | — | ||||||||||||||||||||||
Notes payable to affiliates | 1,188,287 | — | — | — | — | — | (1,188,287 | ) | — | ||||||||||||||||||||||||
Net cash from financing activities | 87,641 | 647,819 | (7,844 | ) | 1,284,931 | (551,358 | ) | 137,344 | (1,188,287 | ) | 410,246 | ||||||||||||||||||||||
Net change in cash and cash equivalents | 857 | 519 | — | 2 | — | 40,941 | — | 42,319 | |||||||||||||||||||||||||
Cash and cash equivalents, beginning of period | 146 | 385 | — | — | — | 234,525 | — | 235,056 | |||||||||||||||||||||||||
Cash and cash equivalents, end of period | $ | 1,003 | $ | 904 | $ | — | $ | 2 | $ | — | $ | 275,466 | $ | — | $ | 277,375 | |||||||||||||||||
NOBLE CORPORATION AND SUBSIDIARIES | |||||||||||||||||||||||||||||||||
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS | |||||||||||||||||||||||||||||||||
Year Ended December 31, 2011 | |||||||||||||||||||||||||||||||||
(in thousands) | |||||||||||||||||||||||||||||||||
Other | |||||||||||||||||||||||||||||||||
Non-guarantor | |||||||||||||||||||||||||||||||||
Noble- | NHC and NDH | Subsidiaries | Consolidating | ||||||||||||||||||||||||||||||
Cayman | Combined | NDC | NHIL | NDS6 | of Noble | Adjustments | Total | ||||||||||||||||||||||||||
Cash flows from operating activities | |||||||||||||||||||||||||||||||||
Net cash from operating activities | $ | (48,906 | ) | $ | 17,107 | $ | (5,616 | ) | $ | (109,171 | ) | $ | (20,222 | ) | $ | 937,295 | $ | — | $ | 770,487 | |||||||||||||
Cash flows from investing activities | |||||||||||||||||||||||||||||||||
New construction and capital expenditures | — | (1,495,056 | ) | (1,380 | ) | — | — | (1,038,460 | ) | — | (2,534,896 | ) | |||||||||||||||||||||
Notes receivable from affiliates | 20,000 | — | — | (1,096,927 | ) | — | 172,302 | 904,625 | — | ||||||||||||||||||||||||
Refund from contract extinguishments | — | — | — | — | — | 18,642 | — | 18,642 | |||||||||||||||||||||||||
Net cash from investing activities | 20,000 | (1,495,056 | ) | (1,380 | ) | (1,096,927 | ) | — | (847,516 | ) | 904,625 | (2,516,254 | ) | ||||||||||||||||||||
Cash flows from financing activities | |||||||||||||||||||||||||||||||||
Net change in borrowings outstanding on bank credit facilities | 935,000 | — | — | — | — | — | — | 935,000 | |||||||||||||||||||||||||
Proceeds from issuance of senior notes, net | — | — | — | 1,087,833 | — | — | — | 1,087,833 | |||||||||||||||||||||||||
Contributions from noncontrolling interests | — | — | — | — | — | 536,000 | — | 536,000 | |||||||||||||||||||||||||
Payments of joint venture debt | — | — | — | — | — | (693,494 | ) | — | (693,494 | ) | |||||||||||||||||||||||
Settlement of interest rate swaps | — | — | — | — | — | (29,032 | ) | — | (29,032 | ) | |||||||||||||||||||||||
Financing cost on credit facilities | (2,835 | ) | — | — | — | — | — | — | (2,835 | ) | |||||||||||||||||||||||
Distributions to parent company, net | (186,048 | ) | — | — | — | — | — | — | (186,048 | ) | |||||||||||||||||||||||
Advances (to) from affiliates | (597,305 | ) | 1,495,688 | 41,996 | 118,265 | 20,222 | (1,078,866 | ) | — | — | |||||||||||||||||||||||
Notes payable to affiliates | (119,802 | ) | (17,500 | ) | (35,000 | ) | — | — | 1,076,927 | (904,625 | ) | — | |||||||||||||||||||||
Net cash from financing activities | 29,010 | 1,478,188 | 6,996 | 1,206,098 | 20,222 | (188,465 | ) | (904,625 | ) | 1,647,424 | |||||||||||||||||||||||
Net change in cash and cash equivalents | 104 | 239 | — | — | — | (98,686 | ) | — | (98,343 | ) | |||||||||||||||||||||||
Cash and cash equivalents, beginning of period | 42 | 146 | — | — | — | 333,211 | — | 333,399 | |||||||||||||||||||||||||
Cash and cash equivalents, end of period | $ | 146 | $ | 385 | $ | — | $ | — | $ | — | $ | 234,525 | $ | — | $ | 235,056 | |||||||||||||||||
Unaudited_Interim_Financial_Da
Unaudited Interim Financial Data | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | ' | ||||||||||||||||
Unaudited Interim Financial Data | ' | ||||||||||||||||
Note 21- Unaudited Interim Financial Data | |||||||||||||||||
Unaudited interim consolidated financial information for Noble-UK for the years ended December 31, 2013 and 2012 is as follows: | |||||||||||||||||
Quarter Ended | |||||||||||||||||
Mar. 31 | Jun. 30 | Sep. 30 | Dec. 31 | ||||||||||||||
2013 | |||||||||||||||||
Operating revenues | $ | 970,975 | $ | 1,017,385 | $ | 1,078,881 | $ | 1,167,049 | |||||||||
Operating income | 229,791 | 253,860 | 378,381 | 259,526 | |||||||||||||
Net Income attributable to Noble Corporation | 150,060 | 176,620 | 281,957 | 174,060 | |||||||||||||
Net income per share attributable to Noble Corporation (1) | |||||||||||||||||
Basic | 0.59 | 0.69 | 1.1 | 0.68 | |||||||||||||
Diluted | 0.59 | 0.69 | 1.1 | 0.68 | |||||||||||||
Quarter Ended | |||||||||||||||||
Mar. 31 | Jun. 30 | Sep. 30 | Dec. 31 | ||||||||||||||
2012 | |||||||||||||||||
Operating revenues | $ | 797,690 | $ | 898,923 | $ | 884,032 | $ | 966,367 | |||||||||
Operating income | 143,643 | 244,495 | 178,924 | 216,738 | |||||||||||||
Net Income attributable to Noble Corporation | 120,175 | 159,818 | 114,774 | 127,577 | |||||||||||||
Net income per share attributable to Noble Corporation (1) | |||||||||||||||||
Basic | 0.47 | 0.63 | 0.45 | 0.5 | |||||||||||||
Diluted | 0.47 | 0.63 | 0.45 | 0.5 | |||||||||||||
-1 | Net income per share is computed independently for each of the quarters presented. Therefore, the sum of the quarters’ net income per share may not equal the total computed for the year. |
Organization_and_Significant_A1
Organization and Significant Accounting Policies (Policies) | 12 Months Ended | |||
Dec. 31, 2013 | ||||
Accounting Policies [Abstract] | ' | |||
Organization and Business | ' | |||
Organization and Business | ||||
On November 20, 2013, pursuant to the Merger Agreement dated as of June 30, 2013 between Noble Corporation, a Swiss corporation (“Noble-Swiss”), and Noble Corporation plc, a company registered under the laws of England and Wales (“Noble-UK”), Noble-Swiss merged with and into Noble-UK, with Noble-UK as the surviving company (the “Transaction”). In the Transaction, all of the outstanding ordinary shares of Noble-Swiss were cancelled, and Noble-UK issued, through an exchange agent, one ordinary share of Noble-UK in exchange for each ordinary share of Noble-Swiss. | ||||
The Transaction effectively changed the place of incorporation of our publicly traded parent holding company from Switzerland to the United Kingdom. As a result of the Transaction, Noble-UK owns and conducts the same businesses through the Noble group as Noble-Swiss conducted prior to the Transaction, except that Noble-UK is the parent company of the Noble group of companies. | ||||
Noble Corporation, a Cayman Islands company (“Noble-Cayman”), is a direct, wholly-owned subsidiary of Noble-UK. Noble-UK’s principal asset is all of the shares of Noble-Cayman. Noble-Cayman has no public equity outstanding. The consolidated financial statements of Noble-UK include the accounts of Noble-Cayman, and Noble-UK conducts substantially all of its business through Noble-Cayman and its subsidiaries. | ||||
Noble-UK is a leading offshore drilling contractor for the oil and gas industry. We perform contract drilling services with our fleet of mobile offshore drilling units located worldwide. We also own one floating production storage and offloading unit (“FPSO”). Currently, our fleet consists of 14 semisubmersibles, 14 drillships and 49 jackups, including six units under construction as follows: | ||||
• | two dynamically positioned, ultra-deepwater, harsh environment drillships; and | |||
• | four high-specification, heavy-duty, harsh environment jackups. | |||
Our fleet is located in the United States, Mexico, Brazil, the North Sea, the Mediterranean, West Africa, the Middle East, India, Asia and Australia. Noble and its predecessors have been engaged in the contract drilling of oil and gas wells since 1921. | ||||
Principles of Consolidation | ' | |||
Principles of Consolidation | ||||
The consolidated financial statements include our accounts, those of our wholly-owned subsidiaries and entities in which we hold a controlling financial interest. Our consolidated financial statements include the accounts of two joint ventures, in each of which we own a 50 percent interest. Our ownership interest meets the definition of variable interest under Financial Accounting Standards Board (“FASB”) codification and we have determined that we are the primary beneficiary. Intercompany balances and transactions have been eliminated in consolidation. | ||||
Foreign Currency Translation | ' | |||
Foreign Currency Translation | ||||
Although we are a UK company, we define foreign currency as any non-U.S. denominated currency. In non-U.S. locations where the U.S. 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. In non-U.S. 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 income statement 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 U.S. 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, 2013. | ||||
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. | ||||
Property and Equipment | ' | |||
Property and Equipment | ||||
Property and equipment is stated at cost, reduced by provisions to recognize economic impairment in value whenever events or changes in circumstances indicate an asset’s carrying value may not be recoverable. 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 to thirty years. Other property and equipment is depreciated using the straight-line method over useful lives ranging from two to twenty-five years. Included in accounts payable were $88 million and $141 million of capital accruals as of December 31, 2013 and 2012, respectively. | ||||
Interest is capitalized on construction-in-progress at 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 to five years are capitalized when incurred and depreciated over an equivalent period. These overhauls and asset replacement projects are included in “Drilling equipment and facilities” in Note 5. Such amounts, net of accumulated depreciation, totaled $400 million and $303 million at December 31, 2013 and 2012, respectively. Depreciation expense related to overhauls and asset replacement totaled $140 million, $113 million and $103 million for the years ended December 31, 2013, 2012 and 2011, respectively. | ||||
We evaluate the impairment of property and equipment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. In addition, on an annual basis, we complete an impairment analysis on our rig fleet. An impairment loss on our property and equipment exists when the estimated undiscounted cash flows expected to result from the use of the asset and its eventual disposition are less than its carrying amount. Any impairment loss recognized represents the excess of the asset’s carrying value over the estimated fair value. As part of this analysis, we make assumptions and estimates regarding future market conditions. To the extent actual results do not meet our estimated assumptions, for a given rig class, we may take an impairment loss in the future. | ||||
Deferred Costs | ' | |||
Deferred Costs | ||||
Deferred debt issuance costs are being amortized through interest expense over the life of the debt securities. | ||||
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. | ||||
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, 2013 and 2012, loss reserves for personal injury and protection claims totaled $29 million and $20 million, respectively, and such amounts are included in “Other current liabilities” in the accompanying Consolidated Balance Sheets. | ||||
Revenue Recognition | ' | |||
Revenue Recognition | ||||
Revenues generated from our dayrate-basis drilling contracts and labor contracts are recognized as services are performed and begin upon the contract commencement, as defined under the specified drilling or labor contract. Revenues from bonuses are recognized when earned. | ||||
It is typical, in our dayrate drilling contracts, to receive compensation for mobilization, equipment modification, or other activities prior to the commencement of the contract. These payments take either the form of a lump-sum payment or other daily compensation. We defer pre-contract compensation and related costs over the term of the initial contract period to which the compensation and costs relate. Upon completion of our drilling contracts, any demobilization revenues received are recognized as income, as are any related expenses. | ||||
Deferred revenues under drilling contracts totaled $303 million at December 31, 2013 as compared to $252 million at December 31, 2012. Such amounts are included in either “Other current liabilities” or “Other liabilities” in our Consolidated Balance Sheets, based upon our expected time of recognition. Related expenses deferred under drilling contracts totaled $157 million at December 31, 2013 as compared to $150 million at December 31, 2012, and are included in either “Other current assets” or “Other assets” in our 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. Applicable income and withholding taxes have not been provided on undistributed earnings of our subsidiaries. We do not intend to repatriate such undistributed earnings except for distributions upon which incremental income and withholding taxes would not be material. 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. | ||||
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 U.S., UK or 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 U.S. Internal Revenue Service (“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. | ||||
Net Income Per Share | ' | |||
Net Income 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 | ' | |||
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. | ||||
Certain Significant Estimates | ' | |||
Certain Significant Estimates | ||||
The preparation of financial statements in conformity 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. | ||||
Reclassifications | ' | |||
Reclassifications | ||||
Certain amounts in prior periods have been reclassified to conform to the current year presentation. | ||||
Accounting Pronouncements | ' | |||
Accounting Pronouncements | ||||
In February 2013, the FASB issued Accounting Standards Update (“ASU”) No. 2013-02, which amends FASB Accounting Standards Codification (“ASC”) Topic 220, “Comprehensive Income.” This amended guidance requires additional information about reclassification adjustments out of comprehensive income, including changes in comprehensive income balances by component and significant items reclassified out of comprehensive income. This guidance is effective for reporting periods beginning after December 15, 2012. The adoption of this guidance did not have a material impact on our financial condition, results of operations, cash flows or financial disclosures. | ||||
In March 2013, the FASB issued ASU No. 2013-05, which amends ASC Topic 830, “Foreign Currency Matters.” This ASU provides guidance on foreign currency translation adjustments when a parent entity ceases to have a controlling interest on a previously consolidated subsidiary or group of assets. The guidance is effective for fiscal years beginning on or after December 15, 2013. We are still evaluating what impact, if any, the adoption of this guidance will have on our financial condition, results of operations, cash flows or financial disclosures. | ||||
In July 2013, the FASB issued ASU No. 2013-11, which amends ASC Topic 740, “Taxes.” This ASU provides guidance on the presentation of tax benefits when a net operating loss carryforward or other tax credit carryforward exists. The guidance is effective for fiscal years beginning on or after December 15, 2013. We are still evaluating what impact, if any, the adoption of this guidance will have on our financial condition, results of operations, cash flows or financial disclosures. |
Consolidated_Joint_Ventures_Ta
Consolidated Joint Ventures (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Noncontrolling Interest [Abstract] | ' | ||||||||
Schedule of Operational Results | ' | ||||||||
Operational results for the years ended December 31, 2013 and 2012 are as follows: | |||||||||
Year Ended | |||||||||
December 31, | |||||||||
2013 | 2012 | ||||||||
Operating revenues | $ | 355,115 | $ | 237,123 | |||||
Net income | $ | 145,447 | $ | 71,629 |
Earnings_per_Share_Tables
Earnings per Share (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||
Computation of Basic and Diluted Net Income Per Share for Noble-UK | ' | ||||||||||||
The following table sets forth the computation of basic and diluted net income per share for Noble-UK: | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Allocation of income from continuing operations | |||||||||||||
Basic | |||||||||||||
Net income attributable to Noble Corporation | $ | 782,697 | $ | 522,344 | $ | 370,898 | |||||||
Earnings allocated to unvested share-based payment awards | (9,271 | ) | (5,309 | ) | (3,727 | ) | |||||||
Net income to common shareholders—basic | $ | 773,426 | $ | 517,035 | $ | 367,171 | |||||||
Diluted | |||||||||||||
Net income attributable to Noble Corporation | $ | 782,697 | $ | 522,344 | $ | 370,898 | |||||||
Earnings allocated to unvested share-based payment awards | (9,261 | ) | (5,302 | ) | (3,719 | ) | |||||||
Net income to common shareholders—diluted | $ | 773,436 | $ | 517,042 | $ | 367,179 | |||||||
Weighted average shares outstanding—basic | 253,288 | 252,435 | 251,405 | ||||||||||
Incremental shares issuable from assumed exercise of stock options | 259 | 356 | 584 | ||||||||||
Weighted average shares outstanding—diluted | 253,547 | 252,791 | 251,989 | ||||||||||
Weighted average unvested share-based payment awards | 3,036 | 2,592 | 2,552 | ||||||||||
Earnings per share | |||||||||||||
Basic | $ | 3.05 | $ | 2.05 | $ | 1.46 | |||||||
Diluted | $ | 3.05 | $ | 2.05 | $ | 1.46 | |||||||
Dividends per share | $ | 0.76 | $ | 0.54 | $ | 0.6 |
Property_and_Equipment_Tables
Property and Equipment (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Property Plant And Equipment [Abstract] | ' | ||||||||
Property and Equipment, at Cost | ' | ||||||||
Property and equipment, at cost, as of December 31, 2013 and 2012 for Noble-UK consisted of the following: | |||||||||
2013 | 2012 | ||||||||
Drilling equipment and facilities | $ | 17,130,986 | $ | 14,043,717 | |||||
Construction in progress | 1,854,434 | 2,733,296 | |||||||
Other | 213,347 | 194,653 | |||||||
Property and equipment, at cost | $ | 19,198,767 | $ | 16,971,666 |
Debt_Tables
Debt (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Debt Disclosure [Abstract] | ' | ||||||||||||||||||||||||
Schedule of Debt | ' | ||||||||||||||||||||||||
Long-term debt consists of the following at December 31, 2013 and 2012: | |||||||||||||||||||||||||
December 31, | December 31, | ||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||
Senior unsecured notes: | |||||||||||||||||||||||||
5.875% Senior Notes due 2013 | $ | — | $ | 299,985 | |||||||||||||||||||||
7.375% Senior Notes due 2014 | 249,964 | 249,799 | |||||||||||||||||||||||
3.45% Senior Notes due 2015 | 350,000 | 350,000 | |||||||||||||||||||||||
3.05% Senior Notes due 2016 | 299,967 | 299,952 | |||||||||||||||||||||||
2.50% Senior Notes due 2017 | 299,886 | 299,852 | |||||||||||||||||||||||
7.50% Senior Notes due 2019 | 201,695 | 201,695 | |||||||||||||||||||||||
4.90% Senior Notes due 2020 | 499,022 | 498,900 | |||||||||||||||||||||||
4.625% Senior Notes due 2021 | 399,576 | 399,527 | |||||||||||||||||||||||
3.95% Senior Notes due 2022 | 399,178 | 399,095 | |||||||||||||||||||||||
6.20% Senior Notes due 2040 | 399,893 | 399,891 | |||||||||||||||||||||||
6.05% Senior Notes due 2041 | 397,646 | 397,613 | |||||||||||||||||||||||
5.25% Senior Notes due 2042 | 498,283 | 498,257 | |||||||||||||||||||||||
Total senior unsecured notes | 3,995,110 | 4,294,566 | |||||||||||||||||||||||
Commercial paper program | 1,561,141 | 339,809 | |||||||||||||||||||||||
Total long-term debt | $ | 5,556,251 | $ | 4,634,375 | |||||||||||||||||||||
Repayments of Total Debt | ' | ||||||||||||||||||||||||
Aggregate principal repayments of total debt for the next five years and thereafter are as follows: | |||||||||||||||||||||||||
2014(1)(2) | 2015 | 2016 | 2017 | 2018 | Thereafter | Total | |||||||||||||||||||
$1,811,105 | $ | 350,000 | $ | 299,967 | $ | 299,886 | $ | — | $ | 2,795,293 | $ | 5,556,251 | |||||||||||||
-1 | In March 2014, our $250 million 7.375% senior notes mature. We anticipate using availability on our Credit Facilities or commercial paper program to repay the outstanding balance; therefore, we have shown the entire balance as long-term on our December 31, 2013 Consolidated Balance Sheet. | ||||||||||||||||||||||||
-2 | Amounts outstanding under our commercial paper program mature during 2014. As amounts issued under the commercial paper program are supported by the unused committed capacity under our Credit Facilities, they are classified as long-term on our Consolidated Balance Sheet at December 31, 2013 | ||||||||||||||||||||||||
Estimated Fair Value of Our Long-Term Debt | ' | ||||||||||||||||||||||||
The following table presents the estimated fair value of our long-term debt as of December 31, 2013 and 2012: | |||||||||||||||||||||||||
December 31, 2013 | December 31, 2012 | ||||||||||||||||||||||||
Carrying | Estimated | Carrying | Estimated | ||||||||||||||||||||||
Value | Fair Value | Value | Fair Value | ||||||||||||||||||||||
Senior unsecured notes: | |||||||||||||||||||||||||
5.875% Senior Notes due 2013 | $ | — | $ | — | $ | 299,985 | $ | 305,594 | |||||||||||||||||
7.375% Senior Notes due 2014 | 249,964 | 253,634 | 249,799 | 269,008 | |||||||||||||||||||||
3.45% Senior Notes due 2015 | 350,000 | 363,019 | 350,000 | 368,824 | |||||||||||||||||||||
3.05% Senior Notes due 2016 | 299,967 | 309,878 | 299,952 | 316,268 | |||||||||||||||||||||
2.50% Senior Notes due 2017 | 299,886 | 302,891 | 299,852 | 309,846 | |||||||||||||||||||||
7.50% Senior Notes due 2019 | 201,695 | 232,839 | 201,695 | 249,358 | |||||||||||||||||||||
4.90% Senior Notes due 2020 | 499,022 | 528,597 | 498,900 | 562,530 | |||||||||||||||||||||
4.625% Senior Notes due 2021 | 399,576 | 413,868 | 399,527 | 442,776 | |||||||||||||||||||||
3.95% Senior Notes due 2022 | 399,178 | 390,520 | 399,095 | 422,227 | |||||||||||||||||||||
6.20% Senior Notes due 2040 | 399,893 | 421,720 | 399,891 | 477,327 | |||||||||||||||||||||
6.05% Senior Notes due 2041 | 397,646 | 417,312 | 397,613 | 468,256 | |||||||||||||||||||||
5.25% Senior Notes due 2042 | 498,283 | 476,873 | 498,257 | 533,422 | |||||||||||||||||||||
Total senior unsecured notes | 3,995,110 | 4,111,151 | 4,294,566 | 4,725,436 | |||||||||||||||||||||
Commercial paper program | 1,561,141 | 1,561,141 | 339,809 | 339,809 | |||||||||||||||||||||
Total long-term debt | $ | 5,556,251 | $ | 5,672,292 | $ | 4,634,375 | $ | 5,065,245 | |||||||||||||||||
Equity_Tables
Equity (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Equity [Abstract] | ' | ||||||||||||||||||||||||
Noble-UK's Share Capital | ' | ||||||||||||||||||||||||
The following table provides a detail of Noble-UK’s share capital as of December 31, 2013 and 2012: | |||||||||||||||||||||||||
December 31, | |||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||
Shares outstanding and trading | 253,448 | 252,759 | |||||||||||||||||||||||
Treasury shares | — | 589 | |||||||||||||||||||||||
Total shares outstanding | 253,448 | 253,348 | |||||||||||||||||||||||
Treasury shares held for share-based compensation plans | — | 12,802 | |||||||||||||||||||||||
Total shares authorized for issuance | 253,448 | 266,150 | |||||||||||||||||||||||
Share Repurchases | ' | ||||||||||||||||||||||||
Share repurchases for each of the three years ended December 31 are as follows: | |||||||||||||||||||||||||
Total Number | Average | ||||||||||||||||||||||||
Year Ended | of Shares | Price Paid | |||||||||||||||||||||||
December 31, | Purchased (1) | Total Cost | per Share | ||||||||||||||||||||||
2013 | 190,187 | $ | 7,653 | $ | 40.24 | ||||||||||||||||||||
2012 | 302,150 | 10,516 | 34.8 | ||||||||||||||||||||||
2011 | 261,721 | 10,233 | 39.1 | ||||||||||||||||||||||
-1 | Includes shares surrendered by employees for taxes payable upon the vesting of restricted stock. | ||||||||||||||||||||||||
Summary of Stock Options Granted | ' | ||||||||||||||||||||||||
A summary of the status of stock options granted under both the 1991 Plan and 1992 Plan as of December 31, 2013, 2012 and 2011 and the changes during the year ended on those dates is presented below: | |||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||
Number of | Weighted | Number of | Weighted | Number of | Weighted | ||||||||||||||||||||
Shares | Average | Shares | Average | Shares | Average | ||||||||||||||||||||
Underlying | Exercise | Underlying | Exercise | Underlying | Exercise | ||||||||||||||||||||
Options | Price | Options | Price | Options | Price | ||||||||||||||||||||
Outstanding at beginning of year | 2,027,089 | $ | 32.44 | 2,498,662 | $ | 29.22 | 2,767,486 | $ | 26.22 | ||||||||||||||||
Granted | — | — | 358,772 | 36.04 | 322,567 | 37.71 | |||||||||||||||||||
Exercised (1) | (212,017 | ) | 26.66 | (645,731 | ) | 20.97 | (506,149 | ) | 17.89 | ||||||||||||||||
Forfeited | (6,085 | ) | 31.35 | (184,614 | ) | 35.92 | (85,242 | ) | 31.33 | ||||||||||||||||
Outstanding at end of year (2) | 1,808,987 | 33.13 | 2,027,089 | 32.44 | 2,498,662 | 29.22 | |||||||||||||||||||
Exercisable at end of year (2) | 1,510,929 | $ | 32.47 | 1,453,945 | $ | 30.7 | 2,004,370 | $ | 27.55 | ||||||||||||||||
-1 | The intrinsic value of options exercised during the year ended December 31, 2013 was $6 million. | ||||||||||||||||||||||||
-2 | The aggregate intrinsic value of options outstanding and exercisable at December 31, 2013 was $9 million. | ||||||||||||||||||||||||
Additional Information about Stock Options Outstanding | ' | ||||||||||||||||||||||||
The following table summarizes additional information about stock options outstanding at December 31, 2013: | |||||||||||||||||||||||||
Options Outstanding | Options Exercisable | ||||||||||||||||||||||||
Number of | Weighted | Weighted | Weighted | ||||||||||||||||||||||
Shares | Average | Average | Average | ||||||||||||||||||||||
Underlying | Remaining | Exercise | Number | Exercise | |||||||||||||||||||||
Options | Life (Years) | Price | Exercisable | Price | |||||||||||||||||||||
$16.06 to $26.46 | 579,471 | 2.54 | $ | 24.3 | 579,471 | $ | 24.3 | ||||||||||||||||||
$26.47 to $35.79 | 269,300 | 3.66 | 32.63 | 239,431 | 32.88 | ||||||||||||||||||||
$35.80 to $43.01 | 960,216 | 6.3 | 38.59 | 692,027 | 39.18 | ||||||||||||||||||||
Total | 1,808,987 | 4.7 | $ | 33.13 | 1,510,929 | $ | 32.47 | ||||||||||||||||||
Valuation Assumptions for Stock Options Granted | ' | ||||||||||||||||||||||||
Fair value information and related valuation assumptions for stock options granted during the years ended December 31, 2012 and 2011 are as follows: | |||||||||||||||||||||||||
2012 | 2011 | ||||||||||||||||||||||||
Weighted average fair value per option granted | $ | 13.41 | $ | 13.2 | |||||||||||||||||||||
Valuation assumptions: | |||||||||||||||||||||||||
Expected option term (years) | 6 | 6 | |||||||||||||||||||||||
Expected volatility | 43 | % | 38.6 | % | |||||||||||||||||||||
Historical dividend yield | 1.4 | % | 1.5 | % | |||||||||||||||||||||
Risk-free interest rate | 1.1 | % | 2.6 | % | |||||||||||||||||||||
Summary of Status of Non-Vested Stock Options | ' | ||||||||||||||||||||||||
A summary of the status of our non-vested stock options at December 31, 2013, and changes during the year ended December 31, 2013, is presented below: | |||||||||||||||||||||||||
Shares | Weighted-Average | ||||||||||||||||||||||||
Under Outstanding | Grant-Date | ||||||||||||||||||||||||
Options | Fair Value | ||||||||||||||||||||||||
Non-Vested Options at January 1, 2013 | 573,144 | $ | 13.44 | ||||||||||||||||||||||
Vested | (275,086 | ) | 13.78 | ||||||||||||||||||||||
Non-Vested Options at December 31, 2013 | 298,058 | $ | 13.13 | ||||||||||||||||||||||
Assumptions used to Value the Performance-Vested Restricted Stock Awards | ' | ||||||||||||||||||||||||
The assumptions used to value the PVRSU’s include historical volatility, risk-free interest rates, and expected dividends over a time period commensurate with the remaining term prior to vesting, as follows: | |||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||
Valuation assumptions: | |||||||||||||||||||||||||
Expected volatility | 34.8 | % | 41.4 | % | 57.7 | % | |||||||||||||||||||
Expected dividend yield | 0.5 | % | 0.6 | % | 0.6 | % | |||||||||||||||||||
Risk-free interest rate | 0.4 | % | 0.3 | % | 1.3 | % | |||||||||||||||||||
Summary of Restricted Share Awards | ' | ||||||||||||||||||||||||
A summary of the RSU awards for each of the years in the period ended December 31 is as follows: | |||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||
TVRSU | |||||||||||||||||||||||||
Units awarded (maximum available) | 1,033,009 | 932,274 | 660,124 | ||||||||||||||||||||||
Weighted-average share price at award date | $ | 41.32 | $ | 36.53 | $ | 37.68 | |||||||||||||||||||
Weighted-average vesting period (years) | 3 | 3 | 3 | ||||||||||||||||||||||
PVRSU | |||||||||||||||||||||||||
Units awarded (maximum available) | 565,650 | 481,206 | 508,206 | ||||||||||||||||||||||
Weighted-average share price at award date | $ | 41.42 | $ | 36.9 | $ | 37.6 | |||||||||||||||||||
Three-year performance period ended December 31 | 2015 | 2014 | 2013 | ||||||||||||||||||||||
Weighted-average award-date fair value | $ | 24.97 | $ | 20.05 | $ | 16.77 | |||||||||||||||||||
Summary of Status of Non-Vested Restricted Shares | ' | ||||||||||||||||||||||||
A summary of the status of non-vested RSU’s at December 31, 2013 and changes during the year ended December 31, 2013 is presented below: | |||||||||||||||||||||||||
Weighted | Weighted | ||||||||||||||||||||||||
Average | Average | ||||||||||||||||||||||||
TVRSU’s | Award-Date | PVRSU’s | Award-Date | ||||||||||||||||||||||
Outstanding | Fair Value | Outstanding (1) | Fair Value | ||||||||||||||||||||||
Non-vested RSU’s at January 1, 2013 | 1,355,721 | $ | 37.13 | 1,151,338 | $ | 18.32 | |||||||||||||||||||
Awarded | 1,033,009 | 41.32 | 565,650 | 24.97 | |||||||||||||||||||||
Vested | (609,843 | ) | 37.58 | — | — | ||||||||||||||||||||
Forfeited | (126,527 | ) | 39.45 | (319,851 | ) | 18.12 | |||||||||||||||||||
Non-vested RSU’s at December 31, 2013 | 1,652,360 | $ | 39.4 | 1,397,137 | $ | 21.06 | |||||||||||||||||||
-1 | The number of PVRSU’s 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 67 percent of the amounts shown. |
Accumulated_Other_Comprehensiv1
Accumulated Other Comprehensive Loss (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Text Block [Abstract] | ' | ||||||||||||
Changes in AOCL by Component | ' | ||||||||||||
The following tables set forth the components of “Accumulated other comprehensive loss” (“AOCL”) for the years ended December 31, 2013 and 2012 and changes in AOCL by component for the year ended December 31, 2013. All amounts within the tables are shown net of tax. | |||||||||||||
Defined | |||||||||||||
Benefit | Foreign | ||||||||||||
Pension | Currency | ||||||||||||
Items(1) | Items | Total | |||||||||||
Balance at December 31, 2012 | $ | (95,071 | ) | $ | (20,378 | ) | $ | (115,449 | ) | ||||
Activity during period: | |||||||||||||
Other comprehensive loss before reclassifications | — | (3,188 | ) | (3,188 | ) | ||||||||
Amounts reclassified from AOCL | 36,473 | — | 36,473 | ||||||||||
Net current period other comprehensive income/(loss) | 36,473 | (3,188 | ) | 33,285 | |||||||||
Balance at December 31, 2013 | $ | (58,598 | ) | $ | (23,566 | ) | $ | (82,164 | ) | ||||
-1 | Defined benefit pension items relate to actuarial losses and the amortization of prior service costs. Reclassifications from AOCL are recognized as expense on our Consolidated Statement of Income through either “contract drilling services” or “general and administrative”. See Note 13 for additional information. |
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||
Components of Net Deferred Taxes | ' | ||||||||||||
The components of the net deferred taxes are as follows: | |||||||||||||
2013 | 2012 | ||||||||||||
Deferred tax assets | |||||||||||||
United States | |||||||||||||
Deferred pension plan amounts | $ | 8,859 | $ | 14,382 | |||||||||
Accrued expenses not currently deductible | 31,769 | 20,431 | |||||||||||
Other | 14,542 | 259 | |||||||||||
Non-U.S. | |||||||||||||
Net operating loss carry forwards | 33,021 | 43,314 | |||||||||||
Deferred pension plan amounts | 2,130 | 3,832 | |||||||||||
Other | 300 | 3,631 | |||||||||||
Deferred tax assets | 90,621 | 85,849 | |||||||||||
Less: valuation allowance | (16,847 | ) | — | ||||||||||
Net deferred tax assets | $ | 73,774 | $ | 85,849 | |||||||||
Deferred tax liabilities | |||||||||||||
United States | |||||||||||||
Excess of net book basis over remaining tax basis | $ | (275,073 | ) | $ | (254,724 | ) | |||||||
Other | (6,002 | ) | (2,102 | ) | |||||||||
Non-U.S. | |||||||||||||
Excess of net book basis over remaining tax basis | (1,034 | ) | (38,726 | ) | |||||||||
Other | (2,452 | ) | — | ||||||||||
Deferred tax liabilities | $ | (284,561 | ) | $ | (295,552 | ) | |||||||
Net deferred tax liabilities | $ | (210,787 | ) | $ | (209,703 | ) | |||||||
Income Before Income Taxes | ' | ||||||||||||
Income before income taxes consists of the following: | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
United States | $ | 253,770 | $ | 209,662 | $ | 142,922 | |||||||
Non-U.S. | 764,242 | 493,563 | 293,328 | ||||||||||
Total | $ | 1,018,012 | $ | 703,225 | $ | 436,250 | |||||||
Income Tax Provision | ' | ||||||||||||
The income tax provision consists of the following: | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Current- United States | $ | 88,956 | $ | 88,183 | $ | 68,254 | |||||||
Current- Non-U.S. | 94,605 | 79,024 | 86,696 | ||||||||||
Deferred- United States | (11,531 | ) | (21,228 | ) | (39,167 | ) | |||||||
Deferred- Non-U.S. | (4,424 | ) | 1,109 | (43,158 | ) | ||||||||
Total | $ | 167,606 | $ | 147,088 | $ | 72,625 | |||||||
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: | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Gross balance at January 1, | $ | 115,009 | $ | 108,036 | $ | 128,581 | |||||||
Additions based on tax positions related to current year | 2,318 | 3,704 | 5,130 | ||||||||||
Additions for tax positions of prior years | 18,906 | 16,432 | 5,718 | ||||||||||
Reductions for tax positions of prior years | (7,910 | ) | (7,917 | ) | (2,354 | ) | |||||||
Expiration of statutes (1) | (2,633 | ) | (1,903 | ) | (28,846 | ) | |||||||
Tax settlements | (9,721 | ) | (3,343 | ) | (193 | ) | |||||||
Gross balance at December 31, | 115,969 | 115,009 | 108,036 | ||||||||||
Related tax benefits | (2,038 | ) | (9,981 | ) | (8,127 | ) | |||||||
Net reserve at December 31, | $ | 113,931 | $ | 105,028 | $ | 99,909 | |||||||
-1 | $(15.7) million relate to transactions recorded directly to equity for the years ended December 31, 2011. There were no transactions recorded directly to equity for the years ended December 31, 2013 and 2012. | ||||||||||||
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: | |||||||||||||
2013 | 2012 | ||||||||||||
Reserve for uncertain tax positions, excluding interest and penalties | $ | 113,931 | $ | 105,028 | |||||||||
Interest and penalties included in “Other liabilities” | 13,190 | 19,944 | |||||||||||
Reserve for uncertain tax positions, including interest and penalties | $ | 127,121 | $ | 124,972 | |||||||||
Reconciliation of Statutory and Effective Income Tax Rate | ' | ||||||||||||
A reconciliation of tax rates outside of the United Kingdom and the Cayman Islands to our Noble-UK effective rate is shown below: | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Effect of: | |||||||||||||
Tax rates which are different than the UK and Cayman Island rates | 17.1 | % | 20.7 | % | 18.9 | % | |||||||
Reserve for (resolution of) tax authority audits | -0.6 | % | 0.2 | % | -2.2 | % | |||||||
Total | 16.5 | % | 20.9 | % | 16.7 | % | |||||||
Employee_Benefit_Plans_Tables
Employee Benefit Plans (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||
Compensation And Retirement Disclosure [Abstract] | ' | ||||||||||||||||||||||||||||
Reconciliation of Changes in Projected Benefit Obligations for our Non - U.S. and U.S. Plan | ' | ||||||||||||||||||||||||||||
A reconciliation of the changes in projected benefit obligations (“PBO”) for our non-U.S. and U.S. plans is as follows: | |||||||||||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||
Non-U.S. | U.S. | Non-U.S. | U.S. | ||||||||||||||||||||||||||
Benefit obligation at beginning of year | $ | 151,781 | $ | 225,885 | $ | 111,164 | $ | 192,042 | |||||||||||||||||||||
Service cost | 5,496 | 10,724 | 4,461 | 9,612 | |||||||||||||||||||||||||
Interest cost | 5,085 | 9,049 | 5,372 | 8,719 | |||||||||||||||||||||||||
Actuarial loss (gain) | (4,584 | ) | (17,652 | ) | 28,442 | 19,115 | |||||||||||||||||||||||
Plan amendments | (227 | ) | — | — | — | ||||||||||||||||||||||||
Benefits paid | (2,558 | ) | (4,068 | ) | (2,442 | ) | (3,603 | ) | |||||||||||||||||||||
Plan participants’ contributions | 956 | — | 747 | — | |||||||||||||||||||||||||
Foreign exchange rate changes | 5,642 | — | 4,037 | — | |||||||||||||||||||||||||
Benefit obligation at end of year | $ | 161,591 | $ | 223,938 | $ | 151,781 | $ | 225,885 | |||||||||||||||||||||
Reconciliation of Changes in Fair Value of Plan Assets | ' | ||||||||||||||||||||||||||||
A reconciliation of the changes in fair value of plan assets is as follows: | |||||||||||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||
Non-U.S. | U.S. | Non-U.S. | U.S. | ||||||||||||||||||||||||||
Fair value of plan assets at beginning of year | $ | 151,819 | $ | 167,170 | $ | 143,110 | $ | 140,828 | |||||||||||||||||||||
Actual return on plan assets | 8,470 | 31,518 | 935 | 19,251 | |||||||||||||||||||||||||
Employer contributions | 9,365 | 6,391 | 5,647 | 10,694 | |||||||||||||||||||||||||
Benefits and expenses paid | (2,558 | ) | (4,068 | ) | (2,442 | ) | (3,603 | ) | |||||||||||||||||||||
Plan participants’ contributions | 956 | — | 747 | — | |||||||||||||||||||||||||
Foreign exchange rate changes | 6,205 | — | 3,822 | — | |||||||||||||||||||||||||
Fair value of plan assets at end of year | $ | 174,257 | $ | 201,011 | $ | 151,819 | $ | 167,170 | |||||||||||||||||||||
Funded Status of Plans | ' | ||||||||||||||||||||||||||||
The funded status of the plans is as follows: | |||||||||||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||
Non-U.S. | U.S. | Non-U.S. | U.S. | ||||||||||||||||||||||||||
Funded status | $ | 12,666 | $ | (22,927 | ) | $ | 38 | $ | (58,715 | ) | |||||||||||||||||||
Amounts Recognized in Consolidated Balance Sheets | ' | ||||||||||||||||||||||||||||
Amounts recognized in the Consolidated Balance Sheets consist of: | |||||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||
Non-U.S. | U.S. | Non-U.S. | U.S. | ||||||||||||||||||||||||||
Other assets (noncurrent) | $ | 13,586 | $ | 6,132 | $ | 3,486 | $ | — | |||||||||||||||||||||
Other liabilities (current) | — | (2,120 | ) | — | (1,988 | ) | |||||||||||||||||||||||
Other liabilities (noncurrent) | (920 | ) | (26,939 | ) | (3,448 | ) | (56,727 | ) | |||||||||||||||||||||
Net amount recognized | $ | 12,666 | $ | (22,927 | ) | $ | 38 | $ | (58,715 | ) | |||||||||||||||||||
Amounts Recognized in Accumulated Other Comprehensive Loss | ' | ||||||||||||||||||||||||||||
Amounts recognized in AOCL consist of: | |||||||||||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||
Non-U.S. | U.S. | Non-U.S. | U.S. | ||||||||||||||||||||||||||
Net actuarial loss | $ | 30,902 | $ | 45,338 | $ | 40,288 | $ | 89,046 | |||||||||||||||||||||
Prior service cost | (232 | ) | 905 | — | 1,131 | ||||||||||||||||||||||||
Deferred income tax asset | (2,130 | ) | (16,185 | ) | (3,832 | ) | (31,562 | ) | |||||||||||||||||||||
Accumulated other comprehensive loss | $ | 28,540 | $ | 30,058 | $ | 36,456 | $ | 58,615 | |||||||||||||||||||||
Pension Costs | ' | ||||||||||||||||||||||||||||
Pension cost includes the following components: | |||||||||||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||||||
Non-U.S. | U.S. | Non-U.S. | U.S. | Non-U.S. | U.S. | ||||||||||||||||||||||||
Service Cost | $ | 5,496 | $ | 10,724 | $ | 4,461 | $ | 9,612 | $ | 4,545 | $ | 8,608 | |||||||||||||||||
Interest Cost | 5,085 | 9,049 | 5,372 | 8,719 | 5,586 | 8,570 | |||||||||||||||||||||||
Return on plan assets | (5,836 | ) | (13,102 | ) | (5,344 | ) | (11,171 | ) | (5,647 | ) | (11,072 | ) | |||||||||||||||||
Amortization of prior service cost | — | 227 | — | 227 | 483 | 227 | |||||||||||||||||||||||
Amortization of transition obligation | — | — | — | — | 74 | — | |||||||||||||||||||||||
Recognized net actuarial loss | 1,670 | 7,639 | 803 | 7,356 | — | 3,374 | |||||||||||||||||||||||
Net pension expense | $ | 6,415 | $ | 14,537 | $ | 5,292 | $ | 14,743 | $ | 5,041 | $ | 9,707 | |||||||||||||||||
Disaggregated Plan Information | ' | ||||||||||||||||||||||||||||
Disaggregated information regarding our non-U.S. and U.S. plans is summarized below: | |||||||||||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||
Non-U.S. | U.S. | Non-U.S. | U.S. | ||||||||||||||||||||||||||
Projected benefit obligation | $ | 161,591 | $ | 223,938 | $ | 151,781 | $ | 225,885 | |||||||||||||||||||||
Accumulated benefit obligation | 154,140 | 185,383 | 146,612 | 185,961 | |||||||||||||||||||||||||
Fair value of plan assets | 174,257 | 201,011 | 151,819 | 167,170 | |||||||||||||||||||||||||
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, 2013 and 2012. 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. | |||||||||||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||
Non-U.S. | U.S. | Non-U.S. | U.S. | ||||||||||||||||||||||||||
Projected benefit obligation | $ | 6,740 | $ | 200,472 | $ | 87,455 | $ | 225,885 | |||||||||||||||||||||
Fair value of plan assets | 5,820 | 171,413 | 84,007 | 167,170 | |||||||||||||||||||||||||
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, 2013 and 2012. 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. | |||||||||||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||
Non-U.S. | U.S. | Non-U.S. | U.S. | ||||||||||||||||||||||||||
Accumulated benefit obligation | $ | 6,493 | $ | 11,997 | $ | 6,481 | $ | 185,961 | |||||||||||||||||||||
Fair value of plan assets | 5,820 | — | 5,074 | 167,170 | |||||||||||||||||||||||||
Defined Benefit Plans Key Assumptions | ' | ||||||||||||||||||||||||||||
The key assumptions for the plans are summarized below: | |||||||||||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||
Non-U.S. | U.S. | Non-U.S. | U.S. | ||||||||||||||||||||||||||
Weighted-average assumptions used to determine benefit obligations: | |||||||||||||||||||||||||||||
Discount Rate | 3.9%-4.7% | 3.9%-5.1% | 3.6%-4.5% | 3.1%-4.2% | |||||||||||||||||||||||||
Rate of compensation increase | 3.6%-4.5% | 5.00% | 3.6%-4.1% | 5.00% | |||||||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||||||
Non-U.S. | U.S. | Non-U.S. | U.S. | Non-U.S. | U.S. | ||||||||||||||||||||||||
Weighted-average assumptions used to determine periodic benefit cost: | |||||||||||||||||||||||||||||
Discount Rate | 2.5%-4.5% | 3.1%-4.2% | 4.7%-5.0% | 4.3%-4.7% | 5.3%-5.4% | 5.0%-5.8% | |||||||||||||||||||||||
Expected long-term return on assets | 2.3%-5.7% | 7.80% | 3.9%-5.4% | 7.80% | 2.2%-6.3% | 7.80% | |||||||||||||||||||||||
Rate of compensation increase | 3.6%-4.1% | 5.00% | 2.3%-4.4% | 5.00% | 3.9%-4.6% | 5.00% | |||||||||||||||||||||||
Actual Fair Values of Non-U.S. Pension Plans | ' | ||||||||||||||||||||||||||||
The actual fair values of Non-U.S. pension plans as of December 31, 2013 and 2012 are as follows: | |||||||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||
Estimated Fair Value | |||||||||||||||||||||||||||||
Measurements | |||||||||||||||||||||||||||||
Quoted | Significant | ||||||||||||||||||||||||||||
Prices in | Other | Significant | |||||||||||||||||||||||||||
Active | Observable | Unobservable | |||||||||||||||||||||||||||
Carrying | Markets | Inputs | Inputs | ||||||||||||||||||||||||||
Amount | (Level 1) | (Level 2) | (Level 3) | ||||||||||||||||||||||||||
Cash | $ | 207 | $ | 207 | $ | — | $ | — | |||||||||||||||||||||
Equity securities: | |||||||||||||||||||||||||||||
International companies | $ | 54,722 | $ | 54,722 | $ | — | $ | — | |||||||||||||||||||||
Fixed income securities: | |||||||||||||||||||||||||||||
Corporate bonds | $ | 41,767 | $ | — | $ | 41,767 | $ | — | |||||||||||||||||||||
Other | 77,561 | — | — | 77,561 | |||||||||||||||||||||||||
Total | $ | 174,257 | $ | 54,929 | $ | 41,767 | $ | 77,561 | |||||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||||||
Estimated Fair Value | |||||||||||||||||||||||||||||
Measurements | |||||||||||||||||||||||||||||
Quoted | Significant | ||||||||||||||||||||||||||||
Prices in | Other | Significant | |||||||||||||||||||||||||||
Active | Observable | Unobservable | |||||||||||||||||||||||||||
Carrying | Markets | Inputs | Inputs | ||||||||||||||||||||||||||
Amount | (Level 1) | (Level 2) | (Level 3) | ||||||||||||||||||||||||||
Cash | $ | 7,158 | $ | 7,158 | $ | — | $ | — | |||||||||||||||||||||
Equity securities: | |||||||||||||||||||||||||||||
International companies | $ | 45,560 | $ | 45,560 | $ | — | $ | — | |||||||||||||||||||||
Fixed income securities: | |||||||||||||||||||||||||||||
Corporate bonds | $ | 22,189 | $ | — | $ | 22,189 | $ | — | |||||||||||||||||||||
Other | 76,912 | — | — | 76,912 | |||||||||||||||||||||||||
Total | $ | 151,819 | $ | 52,718 | $ | 22,189 | $ | 76,912 | |||||||||||||||||||||
Schedule of Activity Related to Investments | ' | ||||||||||||||||||||||||||||
The following table details the activity related to these investments during the year. | |||||||||||||||||||||||||||||
Market | |||||||||||||||||||||||||||||
Value | |||||||||||||||||||||||||||||
Balance as of December 31, 2012 | $ | 76,912 | |||||||||||||||||||||||||||
Assets sold/benefits paid | (776 | ) | |||||||||||||||||||||||||||
Gain on exchange rate | 3,478 | ||||||||||||||||||||||||||||
Loss on investment | (2,053 | ) | |||||||||||||||||||||||||||
Balance as of December 31, 2013 | $ | 77,561 | |||||||||||||||||||||||||||
Actual Fair Values of U.S. Pension Plans | ' | ||||||||||||||||||||||||||||
The actual fair values of U.S. pension plan assets as of December 31, 2013 and 2012 are as follows: | |||||||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||
Estimated Fair Value | |||||||||||||||||||||||||||||
Measurements | |||||||||||||||||||||||||||||
Quoted | Significant | ||||||||||||||||||||||||||||
Prices in | Other | Significant | |||||||||||||||||||||||||||
Active | Observable | Unobservable | |||||||||||||||||||||||||||
Carrying | Markets | Inputs | Inputs | ||||||||||||||||||||||||||
Amount | (Level 1) | (Level 2) | (Level 3) | ||||||||||||||||||||||||||
Cash | $ | 2,184 | $ | 2,184 | $ | — | $ | — | |||||||||||||||||||||
Equity securities: | |||||||||||||||||||||||||||||
United States | $ | 104,899 | $ | 80,714 | $ | 24,185 | $ | — | |||||||||||||||||||||
International | 33,012 | 33,012 | — | — | |||||||||||||||||||||||||
Fixed income securities: | |||||||||||||||||||||||||||||
Corporate bonds | $ | 60,916 | $ | 60,916 | $ | — | $ | — | |||||||||||||||||||||
Total | $ | 201,011 | $ | 176,826 | $ | 24,185 | $ | — | |||||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||||||
Estimated Fair Value | |||||||||||||||||||||||||||||
Measurements | |||||||||||||||||||||||||||||
Quoted | Significant | ||||||||||||||||||||||||||||
Prices in | Other | Significant | |||||||||||||||||||||||||||
Active | Observable | Unobservable | |||||||||||||||||||||||||||
Carrying | Markets | Inputs | Inputs | ||||||||||||||||||||||||||
Amount | (Level 1) | (Level 2) | (Level 3) | ||||||||||||||||||||||||||
Cash | $ | 1,609 | $ | 1,609 | $ | — | $ | — | |||||||||||||||||||||
Equity securities: | |||||||||||||||||||||||||||||
United States | $ | 79,264 | $ | 60,112 | $ | 19,152 | $ | — | |||||||||||||||||||||
International | 34,466 | 34,466 | — | — | |||||||||||||||||||||||||
Fixed income securities: | |||||||||||||||||||||||||||||
Corporate bonds | $ | 51,831 | $ | 51,831 | $ | — | $ | — | |||||||||||||||||||||
Total | $ | 167,170 | $ | 148,018 | $ | 19,152 | $ | — | |||||||||||||||||||||
Estimated Benefit Payments | ' | ||||||||||||||||||||||||||||
The following table summarizes our estimated benefit payments at December 31, 2013: | |||||||||||||||||||||||||||||
Payments by Period | |||||||||||||||||||||||||||||
Total | 2014 | 2015 | 2016 | 2017 | 2018 | Thereafter | |||||||||||||||||||||||
Estimated benefit payments | |||||||||||||||||||||||||||||
Non U.S. plan | $ | 40,007 | $ | 2,585 | $ | 2,792 | $ | 2,997 | $ | 3,308 | $ | 3,327 | $ | 24,998 | |||||||||||||||
U.S. plan | 108,134 | 7,086 | 6,203 | 8,272 | 8,001 | 9,112 | 69,460 | ||||||||||||||||||||||
Total estimated benefit payments | $ | 148,141 | $ | 9,671 | $ | 8,995 | $ | 11,269 | $ | 11,309 | $ | 12,439 | $ | 94,458 | |||||||||||||||
Derivative_Instruments_and_Hed1
Derivative Instruments and Hedging Activities (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Derivative Instruments And Hedging Activities Disclosure [Abstract] | ' | ||||||||||||||||||||||||
Net Unrealized Loss Related to Cash Flow Hedges Included in Accumulated Other Comprehensive Loss | ' | ||||||||||||||||||||||||
The balance of the net unrealized gain/(loss) related to our cash flow hedges included in AOCL in the Consolidated Balance Sheets and related activity is as follows: | |||||||||||||||||||||||||
2012 | 2011 | ||||||||||||||||||||||||
Net unrealized gain (loss) at beginning of period | $ | (3,061 | ) | $ | 1,970 | ||||||||||||||||||||
Activity during period: | |||||||||||||||||||||||||
Settlement of foreign currency forward contracts during the period | 3,061 | (1,604 | ) | ||||||||||||||||||||||
Settlement of interest rate swaps during the period | — | (366 | ) | ||||||||||||||||||||||
Net unrealized loss on outstanding foreign currency forward contracts | — | (3,061 | ) | ||||||||||||||||||||||
Net unrealized loss at end of period | $ | — | $ | (3,061 | ) | ||||||||||||||||||||
Summarization of Recognized Gains and Losses of Cash Flow Hedges | ' | ||||||||||||||||||||||||
To supplement the fair value disclosures in Note 15, the following summarizes the recognized gains and losses of cash flow hedges and non-designated derivatives through AOCL or through “other income” for the years ended December 31, 2013 and 2012: | |||||||||||||||||||||||||
Gain/(loss) recognized | Gain reclassified from | Gain/(loss) recognized | |||||||||||||||||||||||
through AOCL | AOCL to “other | through “other income” | |||||||||||||||||||||||
income” | |||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||
Cash flow hedges | |||||||||||||||||||||||||
Foreign currency forward contracts | $ | (2,526 | ) | $ | — | $ | 2,526 | $ | 3,061 | $ | — | $ | — |
Financial_Instruments_and_Cred1
Financial Instruments and Credit Risk (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||
Carrying Amount and Estimated Fair Value of Financial Instruments | ' | ||||||||||||||||
The following table presents the carrying amount and estimated fair value as of December 31, 2013 and 2012 of our financial instruments recognized at fair value on a recurring basis: | |||||||||||||||||
December 31, 2013 | |||||||||||||||||
Estimated Fair Value Measurements | |||||||||||||||||
Quoted | Significant | ||||||||||||||||
Prices in | Other | Significant | |||||||||||||||
Active | Observable | Unobservable | |||||||||||||||
Carrying | Markets | Inputs | Inputs | ||||||||||||||
Amount | (Level 1) | (Level 2) | (Level 3) | ||||||||||||||
Assets— | |||||||||||||||||
Marketable securities | $ | 7,230 | $ | 7,230 | $ | — | $ | — | |||||||||
December 31, 2012 | |||||||||||||||||
Estimated Fair Value | |||||||||||||||||
Measurements | |||||||||||||||||
Quoted | Significant | ||||||||||||||||
Prices in | Other | Significant | |||||||||||||||
Active | Observable | Unobservable | |||||||||||||||
Carrying | Markets | Inputs | Inputs | ||||||||||||||
Amount | (Level 1) | (Level 2) | (Level 3) | ||||||||||||||
Assets— | |||||||||||||||||
Marketable securities | $ | 5,816 | $ | 5,816 | $ | — | $ | — |
Segment_and_Related_Informatio1
Segment and Related Information (Tables) | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||||||
Summarized Financial Information of Reportable Segment | ' | ||||||||||||||||||||
As a result, the summarized financial information for Noble-Cayman is substantially the same as Noble-UK. | |||||||||||||||||||||
Contract | |||||||||||||||||||||
Drilling | |||||||||||||||||||||
Services | Other | Total | |||||||||||||||||||
2013 | |||||||||||||||||||||
Revenues from external customers | $ | 4,179,246 | $ | 55,044 | $ | 4,234,290 | |||||||||||||||
Depreciation and amortization | 865,126 | 14,296 | 879,422 | ||||||||||||||||||
Segment operating income | 1,121,326 | 232 | 1,121,558 | ||||||||||||||||||
Interest expense, net of amount capitalized | (695 | ) | (105,605 | ) | (106,300 | ) | |||||||||||||||
Income tax (provision)/ benefit | (183,945 | ) | 16,339 | (167,606 | ) | ||||||||||||||||
Segment profit/ (loss) | 864,810 | (82,113 | ) | 782,697 | |||||||||||||||||
Total assets (at end of period) | 15,495,071 | 722,886 | 16,217,957 | ||||||||||||||||||
2012 | |||||||||||||||||||||
Revenues from external customers | $ | 3,462,583 | $ | 84,429 | $ | 3,547,012 | |||||||||||||||
Depreciation and amortization | 745,027 | 13,594 | 758,621 | ||||||||||||||||||
Segment operating income | 772,007 | 11,793 | 783,800 | ||||||||||||||||||
Interest expense, net of amount capitalized | (394 | ) | (85,369 | ) | (85,763 | ) | |||||||||||||||
Income tax (provision)/ benefit | (163,346 | ) | 16,258 | (147,088 | ) | ||||||||||||||||
Segment profit/ (loss) | 580,468 | (58,124 | ) | 522,344 | |||||||||||||||||
Total assets (at end of period) | 13,971,189 | 636,585 | 14,607,774 | ||||||||||||||||||
2011 | |||||||||||||||||||||
Revenues from external customers | $ | 2,634,911 | $ | 60,921 | $ | 2,695,832 | |||||||||||||||
Depreciation and amortization | 647,142 | 11,498 | 658,640 | ||||||||||||||||||
Segment operating income | 477,920 | 12,573 | 490,493 | ||||||||||||||||||
Interest expense, net of amount capitalized | (1,959 | ) | (53,768 | ) | (55,727 | ) | |||||||||||||||
Income tax (provision)/ benefit | (80,317 | ) | 7,692 | (72,625 | ) | ||||||||||||||||
Segment profit/ (loss) | 406,112 | (35,214 | ) | 370,898 | |||||||||||||||||
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 | Identifiable Assets | ||||||||||||||||||||
Year Ended December 31, | As of December 31, | ||||||||||||||||||||
2013 | 2012 | 2011 | 2013 | 2012 | |||||||||||||||||
United States | $ | 1,338,634 | $ | 1,061,255 | $ | 524,750 | $ | 5,525,839 | $ | 5,259,294 | |||||||||||
Australia | 133,214 | 42,353 | — | 624,238 | 635,171 | ||||||||||||||||
Benin | 50,821 | — | — | 803,788 | — | ||||||||||||||||
Brazil | 839,993 | 714,798 | 572,015 | 3,921,306 | 3,851,387 | ||||||||||||||||
Cameroon | 55,803 | — | 17,029 | 48,973 | 9,220 | ||||||||||||||||
Canada | 36,965 | 38,709 | 39,186 | 13,672 | 13,952 | ||||||||||||||||
China (1) | — | — | — | — | 552,721 | ||||||||||||||||
Denmark | 22,850 | 14,119 | — | — | 21,999 | ||||||||||||||||
Egypt | 33,685 | 103,380 | 11,261 | — | — | ||||||||||||||||
India | 103,282 | 58,355 | 102,432 | 188,609 | 216,686 | ||||||||||||||||
Israel | 21,109 | 118,485 | 25,566 | — | 203,442 | ||||||||||||||||
Malaysia | 33,841 | — | — | 23,002 | — | ||||||||||||||||
Malta | 7,453 | 35,776 | 44,713 | 454,951 | 165,297 | ||||||||||||||||
Mexico | 367,734 | 329,896 | 402,129 | 439,098 | 537,931 | ||||||||||||||||
New Zealand | 11,995 | 9,563 | 68,153 | 663,165 | — | ||||||||||||||||
Nigeria | 107,739 | 149,082 | 58,501 | 31,701 | 65,340 | ||||||||||||||||
Oman | 12,051 | 35,400 | 4,607 | 47,664 | 72,637 | ||||||||||||||||
Qatar | 139,891 | 78,047 | 132,917 | 119,156 | 94,151 | ||||||||||||||||
Saudi Arabia | 246,083 | 220,657 | 96,655 | 584,230 | 654,551 | ||||||||||||||||
Singapore (1) | — | — | — | 618,341 | 586,510 | ||||||||||||||||
South Korea (1) | — | — | — | 894,347 | 858,909 | ||||||||||||||||
Switzerland (2) | — | — | — | 32,162 | 37,432 | ||||||||||||||||
The Netherlands | 179,718 | 210,598 | 220,489 | 339,560 | 95,465 | ||||||||||||||||
United Arab Emirates | 118,290 | 79,945 | 84,253 | 443,166 | 190,440 | ||||||||||||||||
United Kingdom | 333,697 | 207,667 | 164,559 | 400,989 | 350,333 | ||||||||||||||||
Other | 39,442 | 38,927 | 126,617 | — | 134,906 | ||||||||||||||||
Total | $ | 4,234,290 | $ | 3,547,012 | $ | 2,695,832 | $ | 16,217,957 | $ | 14,607,774 | |||||||||||
-1 | China, Singapore and South Korea consist primarily of asset values for newbuild rigs under construction in shipyards. | ||||||||||||||||||||
-2 | Switzerland assets consist of general corporate assets, which generate no external revenue for the Company. |
Supplemental_Cash_Flow_Informa1
Supplemental Cash Flow Information (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
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: | |||||||||||||
December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Accounts receivable | $ | (165,233 | ) | $ | (143,010 | ) | $ | (283,268 | ) | ||||
Other current assets | (47,848 | ) | (43,246 | ) | (51,409 | ) | |||||||
Other assets | 34,757 | (385 | ) | (23,821 | ) | ||||||||
Accounts payable | 50,731 | 28,565 | (12,502 | ) | |||||||||
Other current liabilities | 61,644 | 108,385 | 72,861 | ||||||||||
Other liabilities | 2,731 | 80,431 | 87,737 | ||||||||||
$ | (63,218 | ) | $ | 30,740 | $ | (210,402 | ) | ||||||
Additional Cash Flow Information | ' | ||||||||||||
Additional cash flow information is as follows: | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Cash paid during the period for: | |||||||||||||
Interest, net of amounts capitalized | $ | 81,897 | $ | 56,144 | $ | 46,180 | |||||||
Income taxes (net of refunds) | $ | 219,088 | $ | 148,612 | $ | 128,162 | |||||||
Noble-Cayman [Member] | ' | ||||||||||||
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: | |||||||||||||
December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Accounts receivable | $ | (165,233 | ) | $ | (143,010 | ) | $ | (283,268 | ) | ||||
Other current assets | (48,186 | ) | (44,632 | ) | (49,044 | ) | |||||||
Other assets | 35,103 | (385 | ) | (26,800 | ) | ||||||||
Accounts payable | 49,980 | 28,289 | (12,524 | ) | |||||||||
Other current liabilities | 62,516 | 108,425 | 67,238 | ||||||||||
Other liabilities | 2,728 | 80,432 | 87,711 | ||||||||||
$ | (63,092 | ) | $ | 29,119 | $ | (216,687 | ) | ||||||
Additional Cash Flow Information | ' | ||||||||||||
Additional cash flow information is as follows: | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Cash paid during the period for: | |||||||||||||
Interest, net of amounts capitalized | $ | 81,897 | $ | 56,144 | $ | 46,180 | |||||||
Income taxes (net of refunds) | $ | 216,391 | $ | 148,612 | $ | 128,162 |
Information_about_NobleCayman_
Information about Noble-Cayman (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||||||
Guarantees [Abstract] | ' | ||||||||||||||||||||||||||||||||
Guarantor Obligations | ' | ||||||||||||||||||||||||||||||||
Guarantees of Registered Securities | |||||||||||||||||||||||||||||||||
Noble-Cayman, or one or more wholly-owned subsidiaries of Noble-Cayman, are a co-issuer or full and unconditional guarantor or otherwise obligated as of December 31, 2013 as follows: | |||||||||||||||||||||||||||||||||
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 Services 6 LLC (“NDS6”) | Noble Holding (U.S.) 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 | |||||||||||||||||||||||||||||||
Summary of Impact of Change in Presentation on Historical Condensed Consolidating Balance Sheet and Condensed Consolidating Statement of Income | ' | ||||||||||||||||||||||||||||||||
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. | |||||||||||||||||||||||||||||||||
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 | ) | |||||||||||||||||||||||
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 | ) | |||||||||||||||||||||||
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 | ) | |||||||||||||||||||||||
Condensed Financial Statements | ' | ||||||||||||||||||||||||||||||||
NOBLE CORPORATION AND SUBSIDIARIES | |||||||||||||||||||||||||||||||||
CONDENSED CONSOLIDATING BALANCE SHEET | |||||||||||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||||||
(in thousands) | |||||||||||||||||||||||||||||||||
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 | $ | 402 | $ | — | $ | 4 | $ | — | $ | 109,975 | $ | — | $ | 110,382 | |||||||||||||||||
Accounts receivable | — | 34,038 | 3,325 | — | — | 911,706 | — | 949,069 | |||||||||||||||||||||||||
Taxes receivable | — | 52,307 | — | — | — | 87,722 | — | 140,029 | |||||||||||||||||||||||||
Short-term notes receivable from affiliates | — | 1,456,245 | — | 139,195 | 19,500 | 166,760 | (1,781,700 | ) | — | ||||||||||||||||||||||||
Accounts receivable from affiliates | 1,244,019 | 108,208 | 1,137,137 | 210,868 | 27,537 | 6,302,784 | (9,030,553 | ) | — | ||||||||||||||||||||||||
Prepaid expenses and other current assets | — | 6,336 | 204 | — | — | 177,808 | — | 184,348 | |||||||||||||||||||||||||
Total current assets | 1,244,020 | 1,657,536 | 1,140,666 | 350,067 | 47,037 | 7,756,755 | (10,812,253 | ) | 1,383,828 | ||||||||||||||||||||||||
Property and equipment, at cost | — | 2,340,216 | 75,856 | — | — | 16,744,278 | — | 19,160,350 | |||||||||||||||||||||||||
Accumulated depreciation | — | (310,171 | ) | (60,950 | ) | — | — | (4,260,557 | ) | — | (4,631,678 | ) | |||||||||||||||||||||
Property and equipment, net | — | 2,030,045 | 14,906 | — | — | 12,483,721 | — | 14,528,672 | |||||||||||||||||||||||||
Notes receivable from affiliates | 3,304,753 | 124,216 | — | 2,367,555 | 5,000 | 1,390,500 | (7,192,024 | ) | — | ||||||||||||||||||||||||
Investments in affiliates | 8,601,712 | 9,502,970 | 2,523,808 | 9,456,735 | 5,440,004 | — | (35,525,229 | ) | — | ||||||||||||||||||||||||
Other assets | 6,256 | 6,332 | 173 | 22,681 | 639 | 232,933 | — | 269,014 | |||||||||||||||||||||||||
Total assets | $ | 13,156,741 | $ | 13,321,099 | $ | 3,679,553 | $ | 12,197,038 | $ | 5,492,680 | $ | 21,863,909 | $ | (53,529,506 | ) | $ | 16,181,514 | ||||||||||||||||
LIABILITIES AND EQUITY | |||||||||||||||||||||||||||||||||
Current liabilities | |||||||||||||||||||||||||||||||||
Short-term notes payables from affiliates | $ | — | $ | 191,806 | $ | 114,149 | $ | — | $ | 750,000 | $ | 725,745 | $ | (1,781,700 | ) | $ | — | ||||||||||||||||
Accounts payable | — | 5,310 | 452 | — | — | 340,148 | — | 345,910 | |||||||||||||||||||||||||
Accrued payroll and related costs | — | 8,582 | 9,141 | — | — | 125,623 | — | 143,346 | |||||||||||||||||||||||||
Accounts payable to affiliates | 1,104,410 | 4,685,825 | 292,354 | 216,866 | 21,173 | 2,709,925 | (9,030,553 | ) | — | ||||||||||||||||||||||||
Taxes payable | — | 827 | 9 | — | — | 119,752 | — | 120,588 | |||||||||||||||||||||||||
Other current liabilities | 412 | 22,106 | 240 | 62,431 | 4,412 | 210,571 | — | 300,172 | |||||||||||||||||||||||||
Total current liabilities | 1,104,822 | 4,914,456 | 416,345 | 279,297 | 775,585 | 4,231,764 | (10,812,253 | ) | 910,016 | ||||||||||||||||||||||||
Long-term debt | 1,561,141 | — | — | 3,793,414 | 201,696 | — | — | 5,556,251 | |||||||||||||||||||||||||
Notes payable to affiliates | 2,042,808 | 534,683 | — | 975,000 | 260,216 | 3,379,317 | (7,192,024 | ) | — | ||||||||||||||||||||||||
Deferred income taxes | — | — | 3,275 | — | — | 222,180 | — | 225,455 | |||||||||||||||||||||||||
Other liabilities | 19,931 | 24,502 | — | — | — | 289,875 | — | 334,308 | |||||||||||||||||||||||||
Total liabilities | 4,728,702 | 5,473,641 | 419,620 | 5,047,711 | 1,237,497 | 8,123,136 | (18,004,277 | ) | 7,026,030 | ||||||||||||||||||||||||
Commitments and contingencies | |||||||||||||||||||||||||||||||||
Total shareholder equity | 8,428,039 | 7,847,458 | 3,259,933 | 7,149,327 | 4,255,183 | 12,502,531 | (35,014,432 | ) | 8,428,039 | ||||||||||||||||||||||||
Noncontrolling interests | — | — | — | — | — | 1,238,242 | (510,797 | ) | 727,445 | ||||||||||||||||||||||||
Total equity | 8,428,039 | 7,847,458 | 3,259,933 | 7,149,327 | 4,255,183 | 13,740,773 | (35,525,229 | ) | 9,155,484 | ||||||||||||||||||||||||
Total liabilities and equity | $ | 13,156,741 | $ | 13,321,099 | $ | 3,679,553 | $ | 12,197,038 | $ | 5,492,680 | $ | 21,863,909 | $ | (53,529,506 | ) | $ | 16,181,514 | ||||||||||||||||
NOBLE CORPORATION AND SUBSIDIARIES | |||||||||||||||||||||||||||||||||
CONDENSED CONSOLIDATING BALANCE SHEET | |||||||||||||||||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||||||||||
(in thousands) | |||||||||||||||||||||||||||||||||
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 | |||||||||||||||||||||||||
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 | ) | — | ||||||||||||||||||||||||
Prepaid expenses and other current assets | 235 | 1,035 | 205 | — | — | 162,406 | — | 163,881 | |||||||||||||||||||||||||
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 interests | — | — | — | — | — | 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 AND SUBSIDIARIES | |||||||||||||||||||||||||||||||||
CONDENSED CONSOLIDATING STATEMENT OF INCOME | |||||||||||||||||||||||||||||||||
Year Ended December 31, 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 | $ | — | $ | 240,631 | $ | 20,183 | $ | — | $ | — | $ | 3,886,617 | $ | (77,361 | ) | $ | 4,070,070 | ||||||||||||||||
Reimbursables | — | 8,498 | — | — | — | 103,376 | — | 111,874 | |||||||||||||||||||||||||
Labor contract drilling services | — | — | — | — | — | 52,241 | — | 52,241 | |||||||||||||||||||||||||
Other | — | — | — | — | — | 105 | — | 105 | |||||||||||||||||||||||||
Total operating revenues | — | 249,129 | 20,183 | — | — | 4,042,339 | (77,361 | ) | 4,234,290 | ||||||||||||||||||||||||
Operating costs and expenses | |||||||||||||||||||||||||||||||||
Contract drilling services | 24,039 | 92,554 | 7,930 | 110,138 | — | 1,847,324 | (77,361 | ) | 2,004,624 | ||||||||||||||||||||||||
Reimbursables | — | 6,850 | — | — | — | 78,698 | — | 85,548 | |||||||||||||||||||||||||
Labor contract drilling services | — | — | — | — | — | 36,604 | — | 36,604 | |||||||||||||||||||||||||
Depreciation and amortization | — | 62,778 | 4,539 | — | — | 809,933 | — | 877,250 | |||||||||||||||||||||||||
General and administrative | 7,380 | 7,396 | 340 | 36,050 | 1 | 13,692 | — | 64,859 | |||||||||||||||||||||||||
Loss on impairment | — | — | — | — | — | 43,688 | — | 43,688 | |||||||||||||||||||||||||
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 | (13,581 | ) | 169,578 | 12,809 | 146,188 | 1 | 2,792,493 | (77,361 | ) | 3,030,127 | |||||||||||||||||||||||
Operating income (loss) | 13,581 | 79,551 | 7,374 | (146,188 | ) | (1 | ) | 1,249,846 | — | 1,204,163 | |||||||||||||||||||||||
Other income (expense) | |||||||||||||||||||||||||||||||||
Equity earnings in affiliates, net of tax | 975,619 | 365,919 | 106,038 | 1,072,304 | (1,073,596 | ) | — | (1,446,284 | ) | — | |||||||||||||||||||||||
Interest expense, net of amounts capitalized | (127,995 | ) | (24,237 | ) | (2,346 | ) | (139,784 | ) | (45,897 | ) | (1,850,077 | ) | 2,084,036 | (106,300 | ) | ||||||||||||||||||
Interest income and other, net | 6,609 | 262,717 | (99 | ) | 154,442 | 1,569,003 | 93,490 | (2,084,036 | ) | 2,126 | |||||||||||||||||||||||
Income before income taxes | 867,814 | 683,950 | 110,967 | 940,774 | 449,509 | (506,741 | ) | (1,446,284 | ) | 1,099,989 | |||||||||||||||||||||||
Income tax provision | — | (37,487 | ) | — | — | — | (126,979 | ) | — | (164,466 | ) | ||||||||||||||||||||||
Net Income | 867,814 | 646,463 | 110,967 | 940,774 | 449,509 | (633,720 | ) | (1,446,284 | ) | 935,523 | |||||||||||||||||||||||
Net income attributable to noncontrolling interests | — | — | — | — | — | (114,314 | ) | 46,605 | (67,709 | ) | |||||||||||||||||||||||
Net income attributable to Noble Corporation | 867,814 | 646,463 | 110,967 | 940,774 | 449,509 | (748,034 | ) | (1,399,679 | ) | 867,814 | |||||||||||||||||||||||
Other comprehensive income, net | 33,285 | — | — | — | — | 33,285 | (33,285 | ) | 33,285 | ||||||||||||||||||||||||
Comprehensive income attributable to Noble Corporation | $ | 901,099 | $ | 646,463 | $ | 110,967 | $ | 940,774 | $ | 449,509 | $ | (714,749 | ) | $ | (1,432,964 | ) | $ | 901,099 | |||||||||||||||
NOBLE CORPORATION AND SUBSIDIARIES | |||||||||||||||||||||||||||||||||
CONDENSED CONSOLIDATING STATEMENT OF INCOME | |||||||||||||||||||||||||||||||||
Year Ended December 31, 2012 | |||||||||||||||||||||||||||||||||
(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 | $ | — | $ | 161,577 | $ | 20,033 | $ | — | $ | — | $ | 3,246,332 | $ | (78,580 | ) | $ | 3,349,362 | ||||||||||||||||
Reimbursables | — | 6,637 | — | — | — | 108,858 | — | 115,495 | |||||||||||||||||||||||||
Labor contract drilling services | — | — | — | — | — | 81,890 | — | 81,890 | |||||||||||||||||||||||||
Other | — | — | — | — | — | 1,196 | (931 | ) | 265 | ||||||||||||||||||||||||
Total operating revenues | — | 168,214 | 20,033 | — | — | 3,438,276 | (79,511 | ) | 3,547,012 | ||||||||||||||||||||||||
Operating costs and expenses | |||||||||||||||||||||||||||||||||
Contract drilling services | 2,646 | 63,025 | 7,476 | 82,736 | — | 1,684,593 | (79,511 | ) | 1,760,965 | ||||||||||||||||||||||||
Reimbursables | — | 5,886 | — | — | — | 88,210 | — | 94,096 | |||||||||||||||||||||||||
Labor contract drilling services | — | — | — | — | — | 46,895 | — | 46,895 | |||||||||||||||||||||||||
Depreciation and amortization | — | 60,738 | 4,526 | — | — | 691,425 | — | 756,689 | |||||||||||||||||||||||||
General and administrative | 3,036 | 7,786 | — | 35,606 | 1 | 12,937 | — | 59,366 | |||||||||||||||||||||||||
Loss on impairment | — | — | — | — | — | 20,384 | — | 20,384 | |||||||||||||||||||||||||
Gain on contract settlements/extinguishments, net | — | (4,869 | ) | — | — | — | (28,386 | ) | — | (33,255 | ) | ||||||||||||||||||||||
Total operating costs and expenses | 5,682 | 132,566 | 12,002 | 118,342 | 1 | 2,516,058 | (79,511 | ) | 2,705,140 | ||||||||||||||||||||||||
Operating income (loss) | (5,682 | ) | 35,648 | 8,031 | (118,342 | ) | (1 | ) | 922,218 | — | 841,872 | ||||||||||||||||||||||
Other income (expense) | |||||||||||||||||||||||||||||||||
Equity earnings in affiliates, net of tax | 684,446 | 472,509 | 110,820 | 807,590 | (184,163 | ) | — | (1,891,202 | ) | — | |||||||||||||||||||||||
Interest expense, net of amounts capitalized | (105,147 | ) | (44,055 | ) | (3,892 | ) | (120,361 | ) | (43,090 | ) | (663,076 | ) | 893,858 | (85,763 | ) | ||||||||||||||||||
Interest income and other, net | 7,306 | 40,845 | 8 | 135,001 | 594,328 | 121,065 | (893,858 | ) | 4,695 | ||||||||||||||||||||||||
Income before income taxes | 580,923 | 504,947 | 114,967 | 703,888 | 367,074 | 380,207 | (1,891,202 | ) | 760,804 | ||||||||||||||||||||||||
Income tax provision | — | (46,644 | ) | — | — | — | (99,444 | ) | — | (146,088 | ) | ||||||||||||||||||||||
Net Income | 580,923 | 458,303 | 114,967 | 703,888 | 367,074 | 280,763 | (1,891,202 | ) | 614,716 | ||||||||||||||||||||||||
Net income attributable to noncontrolling interests | — | — | — | — | — | (68,969 | ) | 35,176 | (33,793 | ) | |||||||||||||||||||||||
Net income attributable to Noble Corporation | 580,923 | 458,303 | 114,967 | 703,888 | 367,074 | 211,794 | (1,856,026 | ) | 580,923 | ||||||||||||||||||||||||
Other comprehensive loss, net | (41,128 | ) | — | — | — | — | (41,128 | ) | 41,128 | (41,128 | ) | ||||||||||||||||||||||
Comprehensive income attributable to Noble Corporation | $ | 539,795 | $ | 458,303 | $ | 114,967 | $ | 703,888 | $ | 367,074 | $ | 170,666 | $ | (1,814,898 | ) | $ | 539,795 | ||||||||||||||||
NOBLE CORPORATION AND SUBSIDIARIES | |||||||||||||||||||||||||||||||||
CONDENSED CONSOLIDATING STATEMENT OF INCOME | |||||||||||||||||||||||||||||||||
Year Ended December 31, 2011 | |||||||||||||||||||||||||||||||||
(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 | $ | — | $ | 134,602 | $ | 19,913 | $ | — | $ | — | $ | 2,466,701 | $ | (64,458 | ) | $ | 2,556,758 | ||||||||||||||||
Reimbursables | — | 4,351 | 12 | — | — | 74,832 | — | 79,195 | |||||||||||||||||||||||||
Labor contract drilling services | — | 4 | — | — | — | 59,000 | — | 59,004 | |||||||||||||||||||||||||
Other | — | — | — | — | — | 875 | — | 875 | |||||||||||||||||||||||||
Total operating revenues | — | 138,957 | 19,925 | — | — | 2,601,408 | (64,458 | ) | 2,695,832 | ||||||||||||||||||||||||
Operating costs and expenses | |||||||||||||||||||||||||||||||||
Contract drilling services | 3,038 | 46,305 | 7,478 | 59,865 | — | 1,319,187 | (64,458 | ) | 1,371,415 | ||||||||||||||||||||||||
Reimbursables | — | 4,125 | — | — | — | 54,314 | — | 58,439 | |||||||||||||||||||||||||
Labor contract drilling services | — | — | — | — | — | 33,885 | — | 33,885 | |||||||||||||||||||||||||
Depreciation and amortization | — | 50,462 | 3,767 | — | — | 602,976 | — | 657,205 | |||||||||||||||||||||||||
General and administrative | 1,242 | 5,025 | 1 | 33,355 | 1 | 17,163 | — | 56,787 | |||||||||||||||||||||||||
Gain on contract settlements/extinguishments, net | — | — | — | — | — | (21,202 | ) | — | (21,202 | ) | |||||||||||||||||||||||
Total operating costs and expenses | 4,280 | 105,917 | 11,246 | 93,220 | 1 | 2,006,323 | (64,458 | ) | 2,156,529 | ||||||||||||||||||||||||
Operating income (loss) | (4,280 | ) | 33,040 | 8,679 | (93,220 | ) | (1 | ) | 595,085 | — | 539,303 | ||||||||||||||||||||||
Other income (expense) | |||||||||||||||||||||||||||||||||
Equity earnings in affiliates, net of tax | 488,735 | 296,751 | 64,626 | 579,730 | 328,443 | — | (1,758,285 | ) | — | ||||||||||||||||||||||||
Interest expense, net of amounts capitalized | (69,180 | ) | (61,271 | ) | (6,110 | ) | (88,396 | ) | (29,050 | ) | (38,778 | ) | 237,058 | (55,727 | ) | ||||||||||||||||||
Interest income and other, net | 6,768 | 26,291 | (11 | ) | 63,607 | 8,709 | 134,174 | (237,058 | ) | 2,480 | |||||||||||||||||||||||
Income before income taxes | 422,043 | 294,811 | 67,184 | 461,721 | 308,101 | 690,481 | (1,758,285 | ) | 486,056 | ||||||||||||||||||||||||
Income tax provision | — | (14,933 | ) | — | — | — | (56,353 | ) | — | (71,286 | ) | ||||||||||||||||||||||
Net Income | 422,043 | 279,878 | 67,184 | 461,721 | 308,101 | 634,128 | (1,758,285 | ) | 414,770 | ||||||||||||||||||||||||
Net loss attributable to noncontrolling interests | — | — | — | — | — | (15,808 | ) | 23,081 | 7,273 | ||||||||||||||||||||||||
Net income attributable to Noble Corporation | 422,043 | 279,878 | 67,184 | 461,721 | 308,101 | 618,320 | (1,735,204 | ) | 422,043 | ||||||||||||||||||||||||
Other comprehensive loss, net | (24,101 | ) | — | — | — | — | (24,101 | ) | 24,101 | (24,101 | ) | ||||||||||||||||||||||
Noncontrolling portion of gain on interest rate swaps | 183 | — | — | — | — | 183 | (183 | ) | 183 | ||||||||||||||||||||||||
Comprehensive income attributable to Noble Corporation | $ | 398,125 | $ | 279,878 | $ | 67,184 | $ | 461,721 | $ | 308,101 | $ | 594,402 | $ | (1,711,286 | ) | $ | 398,125 | ||||||||||||||||
NOBLE CORPORATION AND SUBSIDIARIES | |||||||||||||||||||||||||||||||||
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS | |||||||||||||||||||||||||||||||||
Year Ended December 31, 2013 | |||||||||||||||||||||||||||||||||
(in thousands) | |||||||||||||||||||||||||||||||||
Other | |||||||||||||||||||||||||||||||||
Non-guarantor | |||||||||||||||||||||||||||||||||
Noble- | NHC and NDH | Subsidiaries | Consolidating | ||||||||||||||||||||||||||||||
Cayman | Combined | NDC | NHIL | NDS6 | of Noble | Adjustments | Total | ||||||||||||||||||||||||||
Cash flows from operating activities | |||||||||||||||||||||||||||||||||
Net cash from operating activities | $ | (117,993 | ) | $ | 290,552 | $ | (1,799 | ) | $ | (128,315 | ) | $ | 1,523,225 | $ | 202,960 | $ | — | $ | 1,768,630 | ||||||||||||||
Cash flows from investing activities | |||||||||||||||||||||||||||||||||
New construction and capital expenditures | — | (1,594,449 | ) | (751 | ) | — | — | (949,004 | ) | — | (2,544,204 | ) | |||||||||||||||||||||
Proceeds from disposal of assets | — | — | — | — | — | 61,000 | — | 61,000 | |||||||||||||||||||||||||
Notes receivable from affiliates | — | — | — | — | — | 294,798 | (294,798 | ) | — | ||||||||||||||||||||||||
Net cash from investing activities | — | (1,594,449 | ) | (751 | ) | — | — | (593,206 | ) | (294,798 | ) | (2,483,204 | ) | ||||||||||||||||||||
Cash flows from financing activities | |||||||||||||||||||||||||||||||||
Net change in borrowings outstanding on bank credit facilities | 1,221,333 | — | — | — | — | — | — | 1,221,333 | |||||||||||||||||||||||||
Repayment of long-term debt | (300,000 | ) | — | — | — | — | — | — | (300,000 | ) | |||||||||||||||||||||||
Dividends paid to noncontrolling interests | — | — | — | — | — | (105,388 | ) | — | (105,388 | ) | |||||||||||||||||||||||
Financing cost on credit facilities | (2,484 | ) | — | — | — | — | — | — | (2,484 | ) | |||||||||||||||||||||||
Distributions to parent company, net | (265,880 | ) | — | — | — | — | — | — | (265,880 | ) | |||||||||||||||||||||||
Advances (to) from affiliates | (241,180 | ) | 1,303,395 | 2,550 | 128,317 | (1,523,225 | ) | 330,143 | — | — | |||||||||||||||||||||||
Notes payable to affiliates | (294,798 | ) | — | — | — | — | — | 294,798 | — | ||||||||||||||||||||||||
Net cash from financing activities | 116,991 | 1,303,395 | 2,550 | 128,317 | (1,523,225 | ) | 224,755 | 294,798 | 547,581 | ||||||||||||||||||||||||
Net change in cash and cash equivalents | (1,002 | ) | (502 | ) | — | 2 | — | (165,491 | ) | — | (166,993 | ) | |||||||||||||||||||||
Cash and cash equivalents, beginning of period | 1,003 | 904 | — | 2 | — | 275,466 | — | 277,375 | |||||||||||||||||||||||||
Cash and cash equivalents, end of period | $ | 1 | $ | 402 | $ | — | $ | 4 | $ | — | $ | 109,975 | $ | — | $ | 110,382 | |||||||||||||||||
NOBLE CORPORATION AND SUBSIDIARIES | |||||||||||||||||||||||||||||||||
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS | |||||||||||||||||||||||||||||||||
Year Ended December 31, 2012 | |||||||||||||||||||||||||||||||||
(in thousands) | |||||||||||||||||||||||||||||||||
Other | |||||||||||||||||||||||||||||||||
Non-guarantor | |||||||||||||||||||||||||||||||||
Noble- | NHC and NDH | Subsidiaries | Consolidating | ||||||||||||||||||||||||||||||
Cayman | Combined | NDC | NHIL | NDS6 | of Noble | Adjustments | Total | ||||||||||||||||||||||||||
Cash flows from operating activities | |||||||||||||||||||||||||||||||||
Net cash from operating activities | $ | (86,784 | ) | $ | 35,177 | $ | 9,950 | $ | (96,642 | ) | $ | 551,358 | $ | 1,007,568 | $ | — | $ | 1,420,627 | |||||||||||||||
Cash flows from investing activities | |||||||||||||||||||||||||||||||||
New construction and capital expenditures | — | (682,477 | ) | (2,106 | ) | — | — | (1,103,971 | ) | — | (1,788,554 | ) | |||||||||||||||||||||
Notes receivable from affiliates | — | — | — | (1,188,287 | ) | — | — | 1,188,287 | — | ||||||||||||||||||||||||
Net cash from investing activities | — | (682,477 | ) | (2,106 | ) | (1,188,287 | ) | — | (1,103,971 | ) | 1,188,287 | (1,788,554 | ) | ||||||||||||||||||||
Cash flows from financing activities | |||||||||||||||||||||||||||||||||
Net change in borrowings outstanding on bank credit facilities | (635,192 | ) | — | — | — | — | — | — | (635,192 | ) | |||||||||||||||||||||||
Proceeds from issuance of senior notes, net | — | — | — | 1,186,636 | — | — | — | 1,186,636 | |||||||||||||||||||||||||
Contributions from noncontrolling interests | — | — | — | — | — | 40,000 | — | 40,000 | |||||||||||||||||||||||||
Financing cost on credit facilities | (5,221 | ) | — | — | — | — | — | — | (5,221 | ) | |||||||||||||||||||||||
Distributions to parent company, net | (175,977 | ) | — | — | — | — | — | — | (175,977 | ) | |||||||||||||||||||||||
Advances (to) from affiliates | (284,256 | ) | 647,819 | (7,844 | ) | 98,295 | (551,358 | ) | 97,344 | — | — | ||||||||||||||||||||||
Notes payable to affiliates | 1,188,287 | — | — | — | — | — | (1,188,287 | ) | — | ||||||||||||||||||||||||
Net cash from financing activities | 87,641 | 647,819 | (7,844 | ) | 1,284,931 | (551,358 | ) | 137,344 | (1,188,287 | ) | 410,246 | ||||||||||||||||||||||
Net change in cash and cash equivalents | 857 | 519 | — | 2 | — | 40,941 | — | 42,319 | |||||||||||||||||||||||||
Cash and cash equivalents, beginning of period | 146 | 385 | — | — | — | 234,525 | — | 235,056 | |||||||||||||||||||||||||
Cash and cash equivalents, end of period | $ | 1,003 | $ | 904 | $ | — | $ | 2 | $ | — | $ | 275,466 | $ | — | $ | 277,375 | |||||||||||||||||
NOBLE CORPORATION AND SUBSIDIARIES | |||||||||||||||||||||||||||||||||
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS | |||||||||||||||||||||||||||||||||
Year Ended December 31, 2011 | |||||||||||||||||||||||||||||||||
(in thousands) | |||||||||||||||||||||||||||||||||
Other | |||||||||||||||||||||||||||||||||
Non-guarantor | |||||||||||||||||||||||||||||||||
Noble- | NHC and NDH | Subsidiaries | Consolidating | ||||||||||||||||||||||||||||||
Cayman | Combined | NDC | NHIL | NDS6 | of Noble | Adjustments | Total | ||||||||||||||||||||||||||
Cash flows from operating activities | |||||||||||||||||||||||||||||||||
Net cash from operating activities | $ | (48,906 | ) | $ | 17,107 | $ | (5,616 | ) | $ | (109,171 | ) | $ | (20,222 | ) | $ | 937,295 | $ | — | $ | 770,487 | |||||||||||||
Cash flows from investing activities | |||||||||||||||||||||||||||||||||
New construction and capital expenditures | — | (1,495,056 | ) | (1,380 | ) | — | — | (1,038,460 | ) | — | (2,534,896 | ) | |||||||||||||||||||||
Notes receivable from affiliates | 20,000 | — | — | (1,096,927 | ) | — | 172,302 | 904,625 | — | ||||||||||||||||||||||||
Refund from contract extinguishments | — | — | — | — | — | 18,642 | — | 18,642 | |||||||||||||||||||||||||
Net cash from investing activities | 20,000 | (1,495,056 | ) | (1,380 | ) | (1,096,927 | ) | — | (847,516 | ) | 904,625 | (2,516,254 | ) | ||||||||||||||||||||
Cash flows from financing activities | |||||||||||||||||||||||||||||||||
Net change in borrowings outstanding on bank credit facilities | 935,000 | — | — | — | — | — | — | 935,000 | |||||||||||||||||||||||||
Proceeds from issuance of senior notes, net | — | — | — | 1,087,833 | — | — | — | 1,087,833 | |||||||||||||||||||||||||
Contributions from noncontrolling interests | — | — | — | — | — | 536,000 | — | 536,000 | |||||||||||||||||||||||||
Payments of joint venture debt | — | — | — | — | — | (693,494 | ) | — | (693,494 | ) | |||||||||||||||||||||||
Settlement of interest rate swaps | — | — | — | — | — | (29,032 | ) | — | (29,032 | ) | |||||||||||||||||||||||
Financing cost on credit facilities | (2,835 | ) | — | — | — | — | — | — | (2,835 | ) | |||||||||||||||||||||||
Distributions to parent company, net | (186,048 | ) | — | — | — | — | — | — | (186,048 | ) | |||||||||||||||||||||||
Advances (to) from affiliates | (597,305 | ) | 1,495,688 | 41,996 | 118,265 | 20,222 | (1,078,866 | ) | — | — | |||||||||||||||||||||||
Notes payable to affiliates | (119,802 | ) | (17,500 | ) | (35,000 | ) | — | — | 1,076,927 | (904,625 | ) | — | |||||||||||||||||||||
Net cash from financing activities | 29,010 | 1,478,188 | 6,996 | 1,206,098 | 20,222 | (188,465 | ) | (904,625 | ) | 1,647,424 | |||||||||||||||||||||||
Net change in cash and cash equivalents | 104 | 239 | — | — | — | (98,686 | ) | — | (98,343 | ) | |||||||||||||||||||||||
Cash and cash equivalents, beginning of period | 42 | 146 | — | — | — | 333,211 | — | 333,399 | |||||||||||||||||||||||||
Cash and cash equivalents, end of period | $ | 146 | $ | 385 | $ | — | $ | — | $ | — | $ | 234,525 | $ | — | $ | 235,056 | |||||||||||||||||
Unaudited_Interim_Financial_Da1
Unaudited Interim Financial Data (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | ' | ||||||||||||||||
Quarterly Financial Information | ' | ||||||||||||||||
Unaudited interim consolidated financial information for Noble-UK for the years ended December 31, 2013 and 2012 is as follows: | |||||||||||||||||
Quarter Ended | |||||||||||||||||
Mar. 31 | Jun. 30 | Sep. 30 | Dec. 31 | ||||||||||||||
2013 | |||||||||||||||||
Operating revenues | $ | 970,975 | $ | 1,017,385 | $ | 1,078,881 | $ | 1,167,049 | |||||||||
Operating income | 229,791 | 253,860 | 378,381 | 259,526 | |||||||||||||
Net Income attributable to Noble Corporation | 150,060 | 176,620 | 281,957 | 174,060 | |||||||||||||
Net income per share attributable to Noble Corporation (1) | |||||||||||||||||
Basic | 0.59 | 0.69 | 1.1 | 0.68 | |||||||||||||
Diluted | 0.59 | 0.69 | 1.1 | 0.68 | |||||||||||||
Quarter Ended | |||||||||||||||||
Mar. 31 | Jun. 30 | Sep. 30 | Dec. 31 | ||||||||||||||
2012 | |||||||||||||||||
Operating revenues | $ | 797,690 | $ | 898,923 | $ | 884,032 | $ | 966,367 | |||||||||
Operating income | 143,643 | 244,495 | 178,924 | 216,738 | |||||||||||||
Net Income attributable to Noble Corporation | 120,175 | 159,818 | 114,774 | 127,577 | |||||||||||||
Net income per share attributable to Noble Corporation (1) | |||||||||||||||||
Basic | 0.47 | 0.63 | 0.45 | 0.5 | |||||||||||||
Diluted | 0.47 | 0.63 | 0.45 | 0.5 | |||||||||||||
-1 | Net income per share is computed independently for each of the quarters presented. Therefore, the sum of the quarters’ net income per share may not equal the total computed for the year. |
Organization_and_Significant_A2
Organization and Significant Accounting Policies - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
JointVenture | |||
Rigs | |||
Description Of Business And Basis Of Presentation [Line Items] | ' | ' | ' |
Number of floating production storage and offloading units ("FPSO") | 1 | ' | ' |
Number of semisubmersibles | 14 | ' | ' |
Number of drillships | 14 | ' | ' |
Number of jackups | 49 | ' | ' |
Number of fleet units under construction | 6 | ' | ' |
Number of ultra-deep water harsh environment drillships under construction | 2 | ' | ' |
Number of harsh environment jackups Rigs under construction | 4 | ' | ' |
Number of joint ventures, where the company hold the variable interest | 2 | ' | ' |
Percentage of variable interest in joint ventures | 50.00% | ' | ' |
Maturity period of highly liquid investments | 'Three months or less | ' | ' |
Capital accruals | $88 | $141 | ' |
Period for incurring maintenance costs, Minimum | '3 years | ' | ' |
Period for incurring maintenance costs, Maximum | '5 years | ' | ' |
Deferred costs for major maintenance projects, net of accumulated depreciation | 400 | 303 | ' |
Depreciation expense related to overhauls and asset replacement | 140 | 113 | 103 |
Loss reserves for personal injury and protection claims | 29 | 20 | ' |
Deferred revenues under drilling contracts | 303 | 252 | ' |
Deferred expenses under drilling contracts | $157 | $150 | ' |
Drilling Equipment [Member] | Minimum [Member] | ' | ' | ' |
Description Of Business And Basis Of Presentation [Line Items] | ' | ' | ' |
Maximum useful life of property plant and equipment | '3 years | ' | ' |
Drilling Equipment [Member] | Maximum [Member] | ' | ' | ' |
Description Of Business And Basis Of Presentation [Line Items] | ' | ' | ' |
Maximum useful life of property plant and equipment | '30 years | ' | ' |
Other Property and Equipment [Member] | Minimum [Member] | ' | ' | ' |
Description Of Business And Basis Of Presentation [Line Items] | ' | ' | ' |
Maximum useful life of property plant and equipment | '2 years | ' | ' |
Other Property and Equipment [Member] | Maximum [Member] | ' | ' | ' |
Description Of Business And Basis Of Presentation [Line Items] | ' | ' | ' |
Maximum useful life of property plant and equipment | '25 years | ' | ' |
Consolidated_Joint_Ventures_Ad
Consolidated Joint Ventures - Additional Information (Detail) (USD $) | 0 Months Ended | 12 Months Ended | ||||
Jan. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Apr. 30, 2011 | Dec. 31, 2010 | |
JointVenture | ||||||
Rigs | ||||||
Schedule of Equity Method Investments [Line Items] | ' | ' | ' | ' | ' | ' |
Percent of interest in joint ventures | ' | 50.00% | ' | ' | ' | ' |
Number of joint ventures acquired | ' | 2 | ' | ' | ' | ' |
Number of bully class drillships | ' | 2 | ' | ' | ' | ' |
Proceeds from issuance of notes to joint venture partners | $70,000,000 | ' | ' | ' | ' | ' |
Percent of interest rates in issued notes | 10.00% | ' | ' | ' | ' | ' |
Combined joint venture partner debt | ' | ' | ' | ' | 146,000,000 | ' |
Outstanding notes related to joint venture | ' | ' | ' | ' | 142,000,000 | ' |
Company's portion of joint venture partner debt | ' | ' | ' | ' | 73,000,000 | ' |
Capital call on joint venture | ' | ' | ' | ' | 360,000,000 | ' |
Dividend paid to joint venture partner | ' | 105,000,000 | ' | ' | ' | ' |
Carrying amount of the drillships | ' | 1,400,000,000 | 1,400,000,000 | ' | ' | ' |
Cash held by Bully joint venture | ' | 114,458,000 | 282,092,000 | 239,196,000 | ' | 337,871,000 |
Affiliated Entity [Member] | ' | ' | ' | ' | ' | ' |
Schedule of Equity Method Investments [Line Items] | ' | ' | ' | ' | ' | ' |
Cash held by Bully joint venture | ' | 50,000,000 | ' | ' | ' | ' |
Bully Joint Venture [Member] | ' | ' | ' | ' | ' | ' |
Schedule of Equity Method Investments [Line Items] | ' | ' | ' | ' | ' | ' |
Dividend paid by Bully Joint Venture Partners | ' | $211,000,000 | ' | ' | ' | ' |
Consolidated_Joint_Ventures_Sc
Consolidated Joint Ventures - Schedule of Operational Results (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Schedule of Equity Method Investments [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating revenues | $1,167,049 | $1,078,881 | $1,017,385 | $970,975 | $966,367 | $884,032 | $898,923 | $797,690 | $4,234,290 | $3,547,012 | $2,695,832 |
Net income | ' | ' | ' | ' | ' | ' | ' | ' | 850,406 | 556,137 | 363,625 |
Joint Ventures [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Schedule of Equity Method Investments [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating revenues | ' | ' | ' | ' | ' | ' | ' | ' | 355,115 | 237,123 | ' |
Net income | ' | ' | ' | ' | ' | ' | ' | ' | $145,447 | $71,629 | ' |
Earnings_per_Share_Computation
Earnings per Share - Computation of Basic and Diluted Net Income Per Share for Noble-UK (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Basic | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income attributable to Noble Corporation | $174,060 | $281,957 | $176,620 | $150,060 | $127,577 | $114,774 | $159,818 | $120,175 | $782,697 | $522,344 | $370,898 |
Earnings allocated to unvested share-based payment awards | ' | ' | ' | ' | ' | ' | ' | ' | -9,271 | -5,309 | -3,727 |
Net income to common shareholders-basic | ' | ' | ' | ' | ' | ' | ' | ' | 773,426 | 517,035 | 367,171 |
Diluted | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income attributable to Noble Corporation | 174,060 | 281,957 | 176,620 | 150,060 | 127,577 | 114,774 | 159,818 | 120,175 | 782,697 | 522,344 | 370,898 |
Earnings allocated to unvested share-based payment awards | ' | ' | ' | ' | ' | ' | ' | ' | -9,261 | -5,302 | -3,719 |
Net income to common shareholders-diluted | ' | ' | ' | ' | ' | ' | ' | ' | $773,436 | $517,042 | $367,179 |
Weighted average shares outstanding-basic | ' | ' | ' | ' | ' | ' | ' | ' | 253,288 | 252,435 | 251,405 |
Incremental shares issuable from assumed exercise of stock options | ' | ' | ' | ' | ' | ' | ' | ' | 259 | 356 | 584 |
Weighted average shares outstanding-diluted | ' | ' | ' | ' | ' | ' | ' | ' | 253,547 | 252,791 | 251,989 |
Weighted average unvested share-based payment awards | ' | ' | ' | ' | ' | ' | ' | ' | 3,036 | 2,592 | 2,552 |
Earnings per share | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Basic | $0.68 | $1.10 | $0.69 | $0.59 | $0.50 | $0.45 | $0.63 | $0.47 | $3.05 | $2.05 | $1.46 |
Diluted | $0.68 | $1.10 | $0.69 | $0.59 | $0.50 | $0.45 | $0.63 | $0.47 | $3.05 | $2.05 | $1.46 |
Dividends per share | ' | ' | ' | ' | ' | ' | ' | ' | $0.76 | $0.54 | $0.60 |
Earnings_per_Share_Additional_
Earnings per Share - Additional Information (Detail) (Stock Options [Member]) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Stock Options [Member] | ' | ' | ' |
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items] | ' | ' | ' |
Stock options excluded from the diluted net income per share | 1 | 1 | 1 |
Receivables_from_Customers_Add
Receivables from Customers - Additional Information (Detail) (Petroleos Mexicanos [Member], USD $) | Dec. 31, 2013 |
In Millions, unless otherwise specified | |
Petroleos Mexicanos [Member] | ' |
Receivables From Major Customers [Line Items] | ' |
Approximate receivables | $14 |
Property_and_Equipment_Propert
Property and Equipment - Property and Equipment, at Cost (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment, at cost | $19,198,767 | $16,971,666 |
Drilling Equipment and Facilities [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment, at cost | 17,130,986 | 14,043,717 |
Construction in Progress [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment, at cost | 1,854,434 | 2,733,296 |
Other Property and Equipment [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment, at cost | $213,347 | $194,653 |
Property_and_Equipment_Additio
Property and Equipment - Additional Information (Detail) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Property Plant And Equipment [Abstract] | ' | ' |
Capital expenditures | $2,500,000,000 | $1,700,000,000 |
Capitalized interest on construction-in-progress | $115,000,000 | $136,000,000 |
Debt_Schedule_of_Debt_Detail
Debt - Schedule of Debt (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Debt Instrument [Line Items] | ' | ' |
Total long-term debt | $5,556,251 | $4,634,375 |
Commercial Paper Program [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Total long-term debt | 1,561,141 | 339,809 |
5.875% Senior Notes Due 2013 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Total senior unsecured notes | ' | 299,985 |
7.375% Senior Notes Due 2014 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Total senior unsecured notes | 249,964 | 249,799 |
3.45% Senior Notes Due 2015 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Total senior unsecured notes | 350,000 | 350,000 |
3.05% Senior Notes Due 2016 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Total senior unsecured notes | 299,967 | 299,952 |
2.50% Senior Notes Due 2017 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Total senior unsecured notes | 299,886 | 299,852 |
7.50% Senior Notes Due 2019 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Total senior unsecured notes | 201,695 | 201,695 |
4.90% Senior Notes Due 2020 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Total senior unsecured notes | 499,022 | 498,900 |
4.625% Senior Notes Due 2021 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Total senior unsecured notes | 399,576 | 399,527 |
3.95% Senior Notes Due 2022 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Total senior unsecured notes | 399,178 | 399,095 |
6.20% Senior Notes due 2040 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Total senior unsecured notes | 399,893 | 399,891 |
6.05% Senior Notes Due 2041 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Total senior unsecured notes | 397,646 | 397,613 |
5.25% Senior Notes Due 2042 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Total senior unsecured notes | 498,283 | 498,257 |
Total Senior Unsecured Notes [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Total senior unsecured notes | $3,995,110 | $4,294,566 |
Debt_Schedule_of_Debt_Parenthe
Debt - Schedule of Debt (Parenthetical) (Detail) | Dec. 31, 2013 |
5.875% Senior Notes Due 2013 [Member] | ' |
Debt Instrument [Line Items] | ' |
Interest rate on senior notes | 5.88% |
Senior notes, maturity date | '2013 |
7.375% Senior Notes Due 2014 [Member] | ' |
Debt Instrument [Line Items] | ' |
Interest rate on senior notes | 7.38% |
Senior notes, maturity date | '2014 |
3.45% Senior Notes Due 2015 [Member] | ' |
Debt Instrument [Line Items] | ' |
Interest rate on senior notes | 3.45% |
Senior notes, maturity date | '2015 |
3.05% Senior Notes Due 2016 [Member] | ' |
Debt Instrument [Line Items] | ' |
Interest rate on senior notes | 3.05% |
Senior notes, maturity date | '2016 |
2.50% Senior Notes Due 2017 [Member] | ' |
Debt Instrument [Line Items] | ' |
Interest rate on senior notes | 2.50% |
Senior notes, maturity date | '2017 |
7.50% Senior Notes Due 2019 [Member] | ' |
Debt Instrument [Line Items] | ' |
Interest rate on senior notes | 7.50% |
Senior notes, maturity date | '2019 |
4.90% Senior Notes Due 2020 [Member] | ' |
Debt Instrument [Line Items] | ' |
Interest rate on senior notes | 4.90% |
Senior notes, maturity date | '2020 |
4.625% Senior Notes Due 2021 [Member] | ' |
Debt Instrument [Line Items] | ' |
Interest rate on senior notes | 4.63% |
Senior notes, maturity date | '2021 |
3.95% Senior Notes Due 2022 [Member] | ' |
Debt Instrument [Line Items] | ' |
Interest rate on senior notes | 3.95% |
Senior notes, maturity date | '2022 |
6.20% Senior Notes due 2040 [Member] | ' |
Debt Instrument [Line Items] | ' |
Interest rate on senior notes | 6.20% |
Senior notes, maturity date | '2040 |
6.05% Senior Notes Due 2041 [Member] | ' |
Debt Instrument [Line Items] | ' |
Interest rate on senior notes | 6.05% |
Senior notes, maturity date | '2041 |
5.25% Senior Notes Due 2042 [Member] | ' |
Debt Instrument [Line Items] | ' |
Interest rate on senior notes | 5.25% |
Senior notes, maturity date | '2042 |
Debt_Additional_Information_De
Debt - Additional Information (Detail) (USD $) | 1 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 1 Months Ended | 1 Months Ended | ||||||||||||
Feb. 29, 2012 | Mar. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Mar. 31, 2011 | Dec. 31, 2013 | Aug. 31, 2013 | Aug. 31, 2013 | Nov. 30, 2013 | Jun. 30, 2013 | Jun. 30, 2013 | Feb. 29, 2012 | Feb. 29, 2012 | Feb. 29, 2012 | Dec. 31, 2013 | |
CreditFacility | Credit Facilities [Member] | Revolving Credit Facility Which Matures in 2017 [Member] | Joint Venture Debt [Member] | Revolving Credit Facility Which Matures in 2015 [Member] | Revolving Credit Facility Which Matures in 2014 [Member] | Unsecured Revolving Credit Facility [Member] | Commercial Paper Program [Member] | 5.875% Senior Notes Due 2013 [Member] | 5.875% Senior Notes Due 2013 [Member] | 2.50% Senior Notes Due 2017 [Member] | 3.95% Senior Notes Due 2022 [Member] | 5.25% Senior Notes Due 2042 [Member] | 7.375% Senior Notes Due 2014 [Member] | |||||
Credit Facilities [Member] | Minimum [Member] | Commercial Paper Program [Member] | ||||||||||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of credit facilities | ' | ' | ' | ' | 3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maximum amount available under credit facility | ' | ' | ' | ' | $2,900,000,000 | $375,000,000 | $1,500,000,000 | ' | $800,000,000 | $600,000,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Short term Unsecured Revolving Credit Facility Maturity Period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '364 days | ' | ' | ' | ' | ' | ' | ' |
Increase in commercial paper program, Amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 900,000,000 | ' | ' | ' | ' | ' | ' |
Outstanding notes value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,700,000,000 | ' | 300,000,000 | ' | ' | ' | ' |
Line of credit facility decrease in borrowing capacity during extension period | ' | ' | ' | ' | ' | ' | ' | ' | 36,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of credit facility amended maturity date | ' | ' | ' | ' | ' | ' | ' | ' | 11-Feb-16 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of credit facility maturity date extension period | ' | ' | ' | ' | ' | ' | ' | ' | '1 year | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Borrowings outstanding | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest rate on senior notes | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.88% | ' | 2.50% | 3.95% | 5.25% | 7.38% |
Senior notes maturity date | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '2013 | ' | '2017 | '2022 | '2042 | '2014 |
Face value of senior notes | 1,200,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 300,000,000 | 400,000,000 | 500,000,000 | 250,000,000 |
Weighted average coupon of all three tranches | 4.13% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from issuance of senior notes, net of debt issuance costs | 1,190,000,000 | ' | 1,186,636,000 | 1,087,833,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maximum debt to tangible capitalization covenant | ' | ' | ' | ' | 0.6 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of credit facility debt to tangible capitalization ratio | ' | ' | ' | ' | 0.38 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payment of Debt | ' | ' | ' | ' | ' | ' | ' | 693,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity contribution by joint venture partner | ' | 361,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Letters of credit | ' | ' | ' | ' | 314,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Performance and temporary import bonds | ' | ' | ' | ' | $131,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt_Repayments_of_Total_Debt_
Debt - Repayments of Total Debt (Detail) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Debt Disclosure [Abstract] | ' |
2014 | $1,811,105 |
2015 | 350,000 |
2016 | 299,967 |
2017 | 299,886 |
2018 | ' |
Thereafter | 2,795,293 |
Total | $5,556,251 |
Debt_Repayments_of_Total_Debt_1
Debt - Repayments of Total Debt (Parenthetical) (Detail) (7.375% Senior Notes Due 2014 [Member]) | 12 Months Ended |
Dec. 31, 2013 | |
7.375% Senior Notes Due 2014 [Member] | ' |
Debt Instrument [Line Items] | ' |
Debt instrument maturity date | 'March 2014 |
Interest rate on senior notes | 7.38% |
Debt_Estimated_Fair_Value_of_O
Debt - Estimated Fair Value of Our Long-Term Debt (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Debt Instrument [Line Items] | ' | ' |
Total long-term debt, Estimated Fair Value | $5,672,292 | $5,065,245 |
Total long-term debt, Carrying Value | 5,556,251 | 4,634,375 |
5.875% Senior Notes Due 2013 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Total long-term debt, Estimated Fair Value | ' | 305,594 |
Total senior unsecured notes, Carrying Value | ' | 299,985 |
7.375% Senior Notes Due 2014 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Total long-term debt, Estimated Fair Value | 253,634 | 269,008 |
Total senior unsecured notes, Carrying Value | 249,964 | 249,799 |
3.45% Senior Notes Due 2015 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Total long-term debt, Estimated Fair Value | 363,019 | 368,824 |
Total senior unsecured notes, Carrying Value | 350,000 | 350,000 |
3.05% Senior Notes Due 2016 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Total long-term debt, Estimated Fair Value | 309,878 | 316,268 |
Total senior unsecured notes, Carrying Value | 299,967 | 299,952 |
2.50% Senior Notes Due 2017 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Total long-term debt, Estimated Fair Value | 302,891 | 309,846 |
Total senior unsecured notes, Carrying Value | 299,886 | 299,852 |
7.50% Senior Notes Due 2019 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Total long-term debt, Estimated Fair Value | 232,839 | 249,358 |
Total senior unsecured notes, Carrying Value | 201,695 | 201,695 |
4.90% Senior Notes Due 2020 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Total long-term debt, Estimated Fair Value | 528,597 | 562,530 |
Total senior unsecured notes, Carrying Value | 499,022 | 498,900 |
4.625% Senior Notes Due 2021 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Total long-term debt, Estimated Fair Value | 413,868 | 442,776 |
Total senior unsecured notes, Carrying Value | 399,576 | 399,527 |
3.95% Senior Notes Due 2022 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Total long-term debt, Estimated Fair Value | 390,520 | 422,227 |
Total senior unsecured notes, Carrying Value | 399,178 | 399,095 |
6.20% Senior Notes due 2040 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Total long-term debt, Estimated Fair Value | 421,720 | 477,327 |
Total senior unsecured notes, Carrying Value | 399,893 | 399,891 |
6.05% Senior Notes Due 2041 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Total long-term debt, Estimated Fair Value | 417,312 | 468,256 |
Total senior unsecured notes, Carrying Value | 397,646 | 397,613 |
5.25% Senior Notes Due 2042 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Total long-term debt, Estimated Fair Value | 476,873 | 533,422 |
Total senior unsecured notes, Carrying Value | 498,283 | 498,257 |
Total Senior Unsecured Notes [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Total long-term debt, Estimated Fair Value | 4,111,151 | 4,725,436 |
Total senior unsecured notes, Carrying Value | 3,995,110 | 4,294,566 |
Commercial Paper Program [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Total long-term debt, Estimated Fair Value | 1,561,141 | 339,809 |
Total long-term debt, Carrying Value | $1,561,141 | $339,809 |
Debt_Estimated_Fair_Value_of_O1
Debt - Estimated Fair Value of Our Long-Term Debt (Parenthetical) (Detail) | Dec. 31, 2013 |
5.875% Senior Notes Due 2013 [Member] | ' |
Debt Instrument [Line Items] | ' |
Interest rate on senior notes | 5.88% |
Senior notes, maturity date | '2013 |
7.375% Senior Notes Due 2014 [Member] | ' |
Debt Instrument [Line Items] | ' |
Interest rate on senior notes | 7.38% |
Senior notes, maturity date | '2014 |
3.45% Senior Notes Due 2015 [Member] | ' |
Debt Instrument [Line Items] | ' |
Interest rate on senior notes | 3.45% |
Senior notes, maturity date | '2015 |
3.05% Senior Notes Due 2016 [Member] | ' |
Debt Instrument [Line Items] | ' |
Interest rate on senior notes | 3.05% |
Senior notes, maturity date | '2016 |
2.50% Senior Notes Due 2017 [Member] | ' |
Debt Instrument [Line Items] | ' |
Interest rate on senior notes | 2.50% |
Senior notes, maturity date | '2017 |
7.50% Senior Notes Due 2019 [Member] | ' |
Debt Instrument [Line Items] | ' |
Interest rate on senior notes | 7.50% |
Senior notes, maturity date | '2019 |
4.90% Senior Notes Due 2020 [Member] | ' |
Debt Instrument [Line Items] | ' |
Interest rate on senior notes | 4.90% |
Senior notes, maturity date | '2020 |
4.625% Senior Notes Due 2021 [Member] | ' |
Debt Instrument [Line Items] | ' |
Interest rate on senior notes | 4.63% |
Senior notes, maturity date | '2021 |
3.95% Senior Notes Due 2022 [Member] | ' |
Debt Instrument [Line Items] | ' |
Interest rate on senior notes | 3.95% |
Senior notes, maturity date | '2022 |
6.20% Senior Notes due 2040 [Member] | ' |
Debt Instrument [Line Items] | ' |
Interest rate on senior notes | 6.20% |
Senior notes, maturity date | '2040 |
6.05% Senior Notes Due 2041 [Member] | ' |
Debt Instrument [Line Items] | ' |
Interest rate on senior notes | 6.05% |
Senior notes, maturity date | '2041 |
5.25% Senior Notes Due 2042 [Member] | ' |
Debt Instrument [Line Items] | ' |
Interest rate on senior notes | 5.25% |
Senior notes, maturity date | '2042 |
Equity_NobleSwiss_Share_Capita
Equity - Noble-Swiss' Share Capital (Detail) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Equity [Abstract] | ' | ' |
Shares outstanding and trading | 253,448 | 252,759 |
Treasury shares | ' | 589 |
Total shares outstanding | 253,448 | 253,348 |
Treasury shares held for share-based compensation plans | ' | 12,802 |
Total shares authorized for issuance | 253,448 | 266,150 |
Equity_Additional_Information_
Equity - Additional Information (Detail) (USD $) | 1 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 12 Months Ended | 1 Months Ended | 0 Months Ended | |||||||||||||||||||
In Millions, except Share data, unless otherwise specified | Nov. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Apr. 30, 2013 | Dec. 31, 2013 | Jan. 30, 2014 |
Last Quarter Financial Year Two Thousand Thirteen [Member] | Dividend Third Tranche [Member] | Stock Options [Member] | Stock Options [Member] | Stock Options [Member] | Equity Option [Member] | Equity Option [Member] | Equity Option [Member] | Restricted Stock [Member] | Restricted Stock [Member] | Restricted Stock [Member] | 1991 [Member] | 1992 [Member] | Time-Vested Restricted Shares Outstanding [Member] | Time-Vested Restricted Shares Outstanding [Member] | Performance-Vested Restricted Shares Outstanding [Member] | Performance-Vested Restricted Shares Outstanding [Member] | Performance-vested shares for the 2010-2012 performance period [Member] | Performance Vested Shares for Two Thousand Eleven to Two Thousand Thirteen Performance Period [Member] | Dividend [Member] | Dividend [Member] | Subsequent Event [Member] | |||||
Stock Options [Member] | Stock Options [Member] | Stock Options [Member] | Stock Options [Member] | Stock Options [Member] | Stock Options [Member] | Stock Options [Member] | Stock Options [Member] | Installment | Last Quarter Financial Year Two Thousand Thirteen [Member] | |||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Repurchased shares cancelled | 800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares held by wholly-owned subsidiary | ' | 12,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Additional conditionally authorized shares without additional shareholder approval | ' | 53,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Current nominal value per share | ' | $0.01 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of installments by which the installments of dividends paid | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4 | ' | ' |
Dividend to be paid, per share | ' | ' | ' | ' | $1.50 | $0.25 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1 | ' | $0.38 |
Dividends payable outstanding | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $128 | ' |
Dividends payable outstanding | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 97 |
Dividend declaration, Date | ' | ' | ' | ' | 30-Jan-14 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Dividend paid, Date | ' | ' | ' | ' | 20-Feb-14 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Dividend record, Date | ' | ' | ' | ' | 10-Feb-14 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Dividend paid, per share | ' | ' | ' | ' | $0.13 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share repurchase | ' | 6,769,891 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Redomiciliation period | ' | '5 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total number of shares issuable under stock option plan | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50,100,000 | 2,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Remaining number of shares available for grants | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6,400,000 | 500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unrecognized cost related to stock option | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Period for recognizing unrecognized compensation cost | ' | ' | ' | ' | ' | ' | ' | ' | ' | '9 months 26 days | ' | ' | ' | ' | ' | ' | ' | ' | '1 year 7 months 6 days | ' | '1 year 7 months 6 days | ' | ' | ' | ' | ' |
Compensation cost recognized | ' | ' | ' | ' | ' | ' | 44 | 36 | 32 | 3 | 4 | 3 | 2 | 2 | 3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unrestricted shares awarded | ' | 57,095 | 65,329 | 69,711 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total unrecognized compensation cost | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 39 | ' | ' | ' | ' | ' | ' | ' | ' |
Total fair value of time-vested restricted shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 23 | ' | ' | ' | ' | ' | ' | ' | ' |
Total unrecognized compensation cost | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 12 | ' | ' | ' | ' | ' | ' |
Performance shares forfeited in period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 126,527 | ' | 319,851 | ' | 285,656 | 218,195 | ' | ' | ' |
Compensation cost recognized net of tax | ' | 36 | 31 | 28 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Capitalized compensation costs | ' | $1 | $1 | $1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity_Share_Repurchases_Detai
Equity - Share Repurchases (Detail) (USD $) | 12 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Equity [Abstract] | ' | ' | ' |
Total Number of Shares Purchased | 190,187,000 | 302,150,000 | 261,721,000 |
Total Cost | $7,653 | $10,516 | $10,233 |
Average Price Paid per Share | $40.24 | $34.80 | $39.10 |
Equity_Summary_of_Stock_Option
Equity - Summary of Stock Options Granted (Detail) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Equity [Abstract] | ' | ' | ' |
Outstanding at beginning of year, Number of Shares Underlying Options | 2,027,089 | 2,498,662 | 2,767,486 |
Granted, Number of Shares Underlying Options | ' | 358,772 | 322,567 |
Exercised, Number of Shares Underlying Options | -212,017 | -645,731 | -506,149 |
Forfeited, Number of Shares Underlying Options | -6,085 | -184,614 | -85,242 |
Outstanding at end of year, Number of Shares Underlying Options | 1,808,987 | 2,027,089 | 2,498,662 |
Exercisable at end of year, Number of Shares Underlying Options | 1,510,929 | 1,453,945 | 2,004,370 |
Outstanding at beginning of year, Weighted Average Exercise Price | $32.44 | $29.22 | $26.22 |
Granted, Weighted Average Exercise Price | ' | $36.04 | $37.71 |
Exercised, Weighted Average Exercise Price | $26.66 | $20.97 | $17.89 |
Forfeited, Weighted Average Exercise Price | $31.35 | $35.92 | $31.33 |
Outstanding at end of year, Weighted Average Exercise Price | $33.13 | $32.44 | $29.22 |
Exercisable at end of year, Weighted Average Exercise Price | $32.47 | $30.70 | $27.55 |
Equity_Summary_of_Stock_Option1
Equity - Summary of Stock Options Granted (Parenthetical) (Detail) (USD $) | 12 Months Ended |
In Millions, unless otherwise specified | Dec. 31, 2013 |
Equity [Abstract] | ' |
Intrinsic value of options exercised | $6 |
Aggregate intrinsic value of options outstanding and exercisable | $9 |
Equity_Additional_Information_1
Equity - Additional Information About Stock Options Outstanding (Detail) (USD $) | 12 Months Ended |
Dec. 31, 2013 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Number of Shares Underlying Options, Options Outstanding | 1,808,987 |
Weighted Average Remaining Life (Years), Options Outstanding | '4 years 8 months 12 days |
Weighted Average Exercise Price, Options Outstanding | $33.13 |
Number Exercisable, Options Exercisable | 1,510,929 |
Weighted Average Exercise Price, Options Exercisable | $32.47 |
$16.06 to $26.46 [Member] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Stock Option Plans Exercise Price, lower range limit | $16.06 |
Stock Option Plans Exercise Price, upper range limit | $26.46 |
Number of Shares Underlying Options, Options Outstanding | 579,471 |
Weighted Average Remaining Life (Years), Options Outstanding | '2 years 6 months 15 days |
Weighted Average Exercise Price, Options Outstanding | $24.30 |
Number Exercisable, Options Exercisable | 579,471 |
Weighted Average Exercise Price, Options Exercisable | $24.30 |
$26.47 to $35.79 [Member] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Stock Option Plans Exercise Price, lower range limit | $26.47 |
Stock Option Plans Exercise Price, upper range limit | $35.79 |
Number of Shares Underlying Options, Options Outstanding | 269,300 |
Weighted Average Remaining Life (Years), Options Outstanding | '3 years 7 months 28 days |
Weighted Average Exercise Price, Options Outstanding | $32.63 |
Number Exercisable, Options Exercisable | 239,431 |
Weighted Average Exercise Price, Options Exercisable | $32.88 |
$35.80 to $43.01 [Member] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Stock Option Plans Exercise Price, lower range limit | $35.80 |
Stock Option Plans Exercise Price, upper range limit | $43.01 |
Number of Shares Underlying Options, Options Outstanding | 960,216 |
Weighted Average Remaining Life (Years), Options Outstanding | '6 years 3 months 18 days |
Weighted Average Exercise Price, Options Outstanding | $38.59 |
Number Exercisable, Options Exercisable | 692,027 |
Weighted Average Exercise Price, Options Exercisable | $39.18 |
Equity_Valuation_Assumptions_f
Equity - Valuation Assumptions for Stock Options Granted (Detail) (Stock options granted [Member], Stock Options [Member], USD $) | 12 Months Ended | |
Dec. 31, 2012 | Dec. 31, 2011 | |
Stock options granted [Member] | Stock Options [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Weighted average fair value per option granted | $13.41 | $13.20 |
Valuation assumptions: | ' | ' |
Expected option term (years) | '6 years | '6 years |
Expected volatility | 43.00% | 38.60% |
Historical dividend yield | 1.40% | 1.50% |
Risk-free interest rate | 1.10% | 2.60% |
Equity_Summary_of_Status_of_No
Equity - Summary of Status of Non-Vested Stock Options (Detail) (Non-Vested Stock Options [Member], USD $) | 12 Months Ended |
Dec. 31, 2013 | |
Non-Vested Stock Options [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Outstanding at beginning of year, Number of Shares Underlying Options | 573,144 |
Shares Under Outstanding Options, Vested | -275,086 |
Outstanding at end of year, Number of Shares Underlying Options | 298,058 |
Weighted-Average Grant-Date Fair Value, Beginning balance | $13.44 |
Weighted-Average Grant-Date Fair Value Vested | $13.78 |
Weighted-Average Grant-Date Fair Value, Ending balance | $13.13 |
Equity_Assumptions_used_to_Val
Equity - Assumptions used to Value the Performance - Vested Restricted Stock Awards (Detail) (Restricted Stock Awards [Member]) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Restricted Stock Awards [Member] | ' | ' | ' |
Valuation assumptions: | ' | ' | ' |
Expected volatility | 34.80% | 41.40% | 57.70% |
Expected dividend yield | 0.50% | 0.60% | 0.60% |
Risk-free interest rate | 0.40% | 0.30% | 1.30% |
Equity_Summary_of_Restricted_S
Equity - Summary of Restricted Share Awards (Detail) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Time-Vested Restricted Shares [Member] | ' | ' | ' |
PVRSU | ' | ' | ' |
Units awarded (maximum available) | 1,033,009 | 932,274 | 660,124 |
Weighted-average share price at award date | $41.32 | $36.53 | $37.68 |
Weighted-average vesting period (years) | '3 years | '3 years | '3 years |
Performance-Vested Restricted Shares [Member] | ' | ' | ' |
PVRSU | ' | ' | ' |
Units awarded (maximum available) | 565,650 | 481,206 | 508,206 |
Weighted-average share price at award date | $41.42 | $36.90 | $37.60 |
Three-year performance period ended December 31 | '2015 | '2014 | '2013 |
Weighted-average award-date fair value | $24.97 | $20.05 | $16.77 |
Equity_Summary_of_Status_of_No1
Equity - Summary of Status of Non-Vested Restricted Shares (Detail) (USD $) | 12 Months Ended |
Dec. 31, 2013 | |
Time-Vested Restricted Shares Outstanding [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Non-vested restricted shares, Restricted Shares Outstanding, Beginning balance | 1,355,721 |
Awarded, Restricted Shares Outstanding | 1,033,009 |
Vested, Restricted Shares Outstanding | -609,843 |
Forfeited, Restricted Shares Outstanding | -126,527 |
Non-vested restricted shares, Restricted Shares Outstanding, Ending balance | 1,652,360 |
Non-vested restricted shares, Weighted Average Award-Date Fair Value, Beginning balance | $37.13 |
Awarded, Weighted Average Award-Date Fair Value | $41.32 |
Vested, Weighted Average Award-Date Fair Value | $37.58 |
Forfeited, Weighted Average Award-Date Fair Value | $39.45 |
Non-vested restricted shares, Weighted Average Award-Date Fair Value, Ending balance | $39.40 |
Performance-Vested Restricted Shares Outstanding [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Non-vested restricted shares, Restricted Shares Outstanding, Beginning balance | 1,151,338 |
Awarded, Restricted Shares Outstanding | 565,650 |
Forfeited, Restricted Shares Outstanding | -319,851 |
Non-vested restricted shares, Restricted Shares Outstanding, Ending balance | 1,397,137 |
Non-vested restricted shares, Weighted Average Award-Date Fair Value, Beginning balance | $18.32 |
Awarded, Weighted Average Award-Date Fair Value | $24.97 |
Forfeited, Weighted Average Award-Date Fair Value | $18.12 |
Non-vested restricted shares, Weighted Average Award-Date Fair Value, Ending balance | $21.06 |
Equity_Summary_of_Status_of_No2
Equity - Summary of Status of Non-Vested Restricted Shares (Parenthetical) (Detail) | 12 Months Ended |
Dec. 31, 2013 | |
Equity [Abstract] | ' |
Minimum number of performance vested shares | 0 |
Target level of performance | 67.00% |
Accumulated_Other_Comprehensiv2
Accumulated Other Comprehensive Loss - Changes in AOCL by Component (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Equity [Abstract] | ' | ' | ' |
Defined Benefit Pension Items, Balance at beginning of period | ($95,071) | ' | ' |
Defined Benefit Pension Items, Activity during period: | ' | ' | ' |
Defined Benefit Pension Items, Other comprehensive loss before reclassifications | ' | ' | ' |
Defined Benefit Pension Items, Amounts reclassified from AOCL | 6,612 | 5,545 | 2,047 |
Defined Benefit Pension Items, Net current period other comprehensive income/(loss) | 36,473 | ' | ' |
Defined Benefit Pension Items, Balance at end of period | -58,598 | -95,071 | ' |
Foreign Currency Items, Balance at beginning of period | -20,378 | ' | ' |
Foreign Currency Items, Activity during period: | ' | ' | ' |
Foreign Currency Items, Other comprehensive loss before reclassifications | -3,188 | ' | ' |
Foreign Currency Items, Amounts reclassified from AOCL | ' | ' | ' |
Foreign Currency Items, Net current period other comprehensive income/(loss) | -3,188 | -8,076 | -2,566 |
Foreign Currency Items, Balance at end of period | -23,566 | -20,378 | ' |
Balance at beginning of period | -115,449 | ' | ' |
Activity during period: | ' | ' | ' |
Other comprehensive loss before reclassifications | -3,188 | ' | ' |
Amounts reclassified from AOCL | 36,473 | ' | ' |
Other comprehensive income (loss), net | 33,285 | -41,128 | -24,101 |
Balance at end of period | ($82,164) | ($115,449) | ' |
Loss_on_Impairment_Additional_
Loss on Impairment - Additional Information (Detail) (USD $) | 12 Months Ended | 1 Months Ended | 12 Months Ended | |||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Jan. 31, 2014 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2013 |
Submersible Rig Feet [Member] | Submersible Rig Feet [Member] | Submersible Rig Feet [Member] | Submersible Rig Feet [Member] | Corporate Assets [Member] | Fpso [Member] | |
Rigs | Subsequent Event [Member] | Significant Other Observable Inputs (Level 2) [Member] | Significant Other Observable Inputs (Level 2) [Member] | Significant Other Observable Inputs (Level 2) [Member] | ||
Loss Contingencies [Line Items] | ' | ' | ' | ' | ' | ' |
Impairment related charges | $4 | ' | ' | $13 | $7 | $40 |
Number of cold stack rigs | ' | 2 | ' | ' | ' | ' |
Sales value of Rigs | ' | ' | $7 | ' | ' | ' |
Recovered_Sheet1
Gain on Disposal of Assets, net - Additional Information (Detail) (USD $) | 3 Months Ended |
In Millions, unless otherwise specified | Sep. 30, 2013 |
Property Plant And Equipment Useful Life And Values [Abstract] | ' |
Sale of the Noble Lewis Dugger | $61 |
Gain on sale of assets | $36 |
Gain_on_Contract_SettlementsEx1
Gain on Contract Settlements/Extinguishments, net - Additional Information (Detail) (USD $) | 1 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | ||||||
Feb. 28, 2011 | Jun. 30, 2012 | Mar. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2009 | Mar. 31, 2011 | Sep. 30, 2013 | Jun. 30, 2012 | |
Noble Phoenix [Member] | Fdr Holdings Ltd [Member] | Noble David Tinsley [Member] | ||||||||
Additional Expenditures by Other Contractual Commitments [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net gain recognized on settlement included in other income | ' | $28,000,000 | ' | ' | ' | ' | ' | ' | $45,000,000 | $5,000,000 |
Incident charge | ' | ' | ' | ' | ' | ' | 17,000,000 | ' | ' | ' |
Non-cash gain on contract extinguishment | ' | ' | ' | 46,800,000 | 33,255,000 | 21,202,000 | ' | 52,500,000 | ' | ' |
Non-cash charge related to contract termination | ' | ' | ' | ' | ' | ' | ' | 32,600,000 | ' | ' |
Repayment of Bully credit facilities | 693,000,000 | ' | ' | 300,000,000 | ' | ' | ' | ' | ' | ' |
Gain recognized on settlement and termination of interest rate swaps | ' | ' | $1,300,000 | ' | ' | $1,000,000 | ' | ' | ' | ' |
Income_Taxes_Components_of_Net
Income Taxes - Components of Net Deferred Taxes (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Deferred tax assets | ' | ' |
Deferred tax assets | $90,621 | $85,849 |
Less: valuation allowance | -16,847 | ' |
Net deferred tax assets | 73,774 | 85,849 |
Deferred tax liabilities | ' | ' |
Deferred tax liabilities | -284,561 | -295,552 |
Net deferred tax liabilities | -210,787 | -209,703 |
United States [Member] | ' | ' |
Deferred tax assets | ' | ' |
Deferred pension plan amounts | 8,859 | 14,382 |
Accrued expenses not currently deductible | 31,769 | 20,431 |
Other | 14,542 | 259 |
Deferred tax liabilities | ' | ' |
Excess of net book basis over remaining tax basis | -275,073 | -254,724 |
Other | -6,002 | -2,102 |
Foreign Tax Authority [Member] | ' | ' |
Deferred tax assets | ' | ' |
Net operating loss carry forwards | 33,021 | 43,314 |
Deferred pension plan amounts | 2,130 | 3,832 |
Other | 300 | 3,631 |
Deferred tax liabilities | ' | ' |
Excess of net book basis over remaining tax basis | -1,034 | -38,726 |
Other | ($2,452) | ' |
Income_Taxes_Income_Before_Inc
Income Taxes - Income Before Income Taxes (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Tax Disclosure [Abstract] | ' | ' | ' |
United States | $253,770 | $209,662 | $142,922 |
Non-U.S. | 764,242 | 493,563 | 293,328 |
Income before income taxes | $1,018,012 | $703,225 | $436,250 |
Income_Taxes_Income_Tax_Provis
Income Taxes - Income Tax Provision (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Tax Disclosure [Abstract] | ' | ' | ' |
Current- United States | $88,956 | $88,183 | $68,254 |
Current- Non-U.S. | 94,605 | 79,024 | 86,696 |
Deferred- United States | -11,531 | -21,228 | -39,167 |
Deferred- Non-U.S. | -4,424 | 1,109 | -43,158 |
Total | $167,606 | $147,088 | $72,625 |
Income_Taxes_Reconciliation_of
Income Taxes - Reconciliation of Reserve for Uncertain Tax Positions, Excluding Interest and Penalties (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Tax Disclosure [Abstract] | ' | ' | ' |
Gross balance at January 1 | $115,009 | $108,036 | $128,581 |
Additions based on tax positions related to current year | 2,318 | 3,704 | 5,130 |
Additions for tax positions of prior years | 18,906 | 16,432 | 5,718 |
Reductions for tax positions of prior years | -7,910 | -7,917 | -2,354 |
Expiration of statutes | -2,633 | -1,903 | -28,846 |
Tax settlements | -9,721 | -3,343 | -193 |
Gross balance at December 31 | 115,969 | 115,009 | 108,036 |
Related tax benefits | -2,038 | -9,981 | -8,127 |
Net reserve at December 31 | $113,931 | $105,028 | $99,909 |
Income_Taxes_Reconciliation_of1
Income Taxes - Reconciliation of Reserve for Uncertain Tax Positions, Excluding Interest and Penalties (Parenthetical) (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Tax Disclosure [Abstract] | ' | ' | ' |
Additional tax based on tax positions related to equity | $0 | $0 | ($15.70) |
Income_Taxes_Summary_of_Liabil
Income Taxes - Summary of Liabilities Related to Reserve for Uncertain Tax Positions (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Tax Disclosure [Abstract] | ' | ' | ' |
Reserve for uncertain tax positions, excluding interest and penalties | $113,931 | $105,028 | $99,909 |
Interest and penalties included in "Other liabilities" | 13,190 | 19,944 | ' |
Reserve for uncertain tax positions, including interest and penalties | $127,121 | $124,972 | ' |
Income_Taxes_Additional_Inform
Income Taxes - Additional Information (Detail) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Income Taxes [Line Items] | ' | ' | ' |
Reserves for uncertain tax positions net | $127,121,000 | $124,972,000 | ' |
Reduction in the provision for income taxes, if reserves not realized | 127,000,000 | ' | ' |
Interest and penalties resulted in an income tax benefit | 7,000,000 | -5,000,000 | 5,000,000 |
Operational period | '12 months | ' | ' |
Federal statutory income tax rate | 23.25% | ' | ' |
Foreign tax credits | 15,000,000 | 22,000,000 | 21,000,000 |
Undistributed earnings of subsidiaries | 80,000,000 | ' | ' |
Minimum [Member] | ' | ' | ' |
Income Taxes [Line Items] | ' | ' | ' |
Expected additional Income tax liability on undistributed earning from subsidiary | 20,000,000 | ' | ' |
Maximum [Member] | ' | ' | ' |
Income Taxes [Line Items] | ' | ' | ' |
Expected additional Income tax liability on undistributed earning from subsidiary | $25,000,000 | ' | ' |
Income_Taxes_Reconciliation_of2
Income Taxes - Reconciliation of Statutory and Effective Income Tax Rate (Detail) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Income Tax Disclosure [Abstract] | ' | ' | ' |
Tax rates which are different than the UK and Cayman Island rates | 17.10% | 20.70% | 18.90% |
Reserve for (resolution of) tax authority audits | -0.60% | 0.20% | -2.20% |
Total | 16.50% | 20.90% | 16.70% |
Employee_Benefit_Plans_Reconci
Employee Benefit Plans - Reconciliation of Changes in Projected Benefit Obligations for our Non - U.S. and U.S. Plan (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Non-U.S. Plans [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Benefit obligation at beginning of year | $151,781 | $111,164 | ' |
Service cost | 5,496 | 4,461 | 4,545 |
Interest Cost | 5,085 | 5,372 | 5,586 |
Actuarial loss (gain) | -4,584 | 28,442 | ' |
Plan amendments | -227 | ' | ' |
Benefits paid | -2,558 | -2,442 | ' |
Plan participants' contributions | 956 | 747 | ' |
Foreign exchange rate changes | 5,642 | 4,037 | ' |
Benefit obligation at end of year | 161,591 | 151,781 | 111,164 |
U.S. Plans [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Benefit obligation at beginning of year | 225,885 | 192,042 | ' |
Service cost | 10,724 | 9,612 | 8,608 |
Interest Cost | 9,049 | 8,719 | 8,570 |
Actuarial loss (gain) | -17,652 | 19,115 | ' |
Plan amendments | ' | ' | ' |
Benefits paid | -4,068 | -3,603 | ' |
Plan participants' contributions | ' | ' | ' |
Foreign exchange rate changes | ' | ' | ' |
Benefit obligation at end of year | $223,938 | $225,885 | $192,042 |
Employee_Benefit_Plans_Reconci1
Employee Benefit Plans - Reconciliation of Changes in Fair Value of Plan Assets (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets at beginning of year | $76,912 | ' | ' |
Foreign exchange rate changes | 3,478 | ' | ' |
Fair value of plan assets at end of year | 77,561 | ' | ' |
Non-U.S. Plans [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets at beginning of year | 151,819 | 143,110 | ' |
Actual return on plan assets | 8,470 | 935 | ' |
Employer contributions | 9,365 | 5,647 | 6 |
Benefits and expenses paid | -2,558 | -2,442 | ' |
Plan participants' contributions | 956 | 747 | ' |
Foreign exchange rate changes | 6,205 | 3,822 | ' |
Fair value of plan assets at end of year | 174,257 | 151,819 | 143,110 |
U.S. Plans [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets at beginning of year | 167,170 | 140,828 | ' |
Actual return on plan assets | 31,518 | 19,251 | ' |
Employer contributions | 6,391 | 10,694 | 5 |
Benefits and expenses paid | -4,068 | -3,603 | ' |
Plan participants' contributions | ' | ' | ' |
Foreign exchange rate changes | ' | ' | ' |
Fair value of plan assets at end of year | $201,011 | $167,170 | $140,828 |
Employee_Benefit_Plans_Funded_
Employee Benefit Plans - Funded Status of Plans (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Non-U.S. Plans [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Funded status | $12,666 | $38 |
U.S. Plans [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Funded status | ($22,927) | ($58,715) |
Employee_Benefit_Plans_Amounts
Employee Benefit Plans - Amounts Recognized in Consolidated Balance Sheets (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Non-U.S. Plans [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Other assets (noncurrent) | $13,586 | $3,486 |
Other liabilities (current) | ' | ' |
Other liabilities (noncurrent) | -920 | -3,448 |
Net amount recognized | 12,666 | 38 |
U.S. Plans [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Other assets (noncurrent) | 6,132 | ' |
Other liabilities (current) | -2,120 | -1,988 |
Other liabilities (noncurrent) | -26,939 | -56,727 |
Net amount recognized | ($22,927) | ($58,715) |
Employee_Benefit_Plans_Amounts1
Employee Benefit Plans - Amounts Recognized in Accumulated Other Comprehensive Loss (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Accumulated other comprehensive loss | ($58,598) | ($95,071) |
Non-U.S. Plans [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Net actuarial loss | 30,902 | 40,288 |
Prior service cost | -232 | ' |
Deferred income tax asset | -2,130 | -3,832 |
Accumulated other comprehensive loss | 28,540 | 36,456 |
U.S. Plans [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Net actuarial loss | 45,338 | 89,046 |
Prior service cost | 905 | 1,131 |
Deferred income tax asset | -16,185 | -31,562 |
Accumulated other comprehensive loss | $30,058 | $58,615 |
Employee_Benefit_Plans_Pension
Employee Benefit Plans - Pension Costs (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Non-U.S. Plans [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Service cost | $5,496 | $4,461 | $4,545 |
Interest Cost | 5,085 | 5,372 | 5,586 |
Return on plan assets | -5,836 | -5,344 | -5,647 |
Amortization of prior service cost | ' | ' | 483 |
Amortization of transition obligation | ' | ' | 74 |
Recognized net actuarial loss | 1,670 | 803 | ' |
Net pension expense | 6,415 | 5,292 | 5,041 |
U.S. Plans [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Service cost | 10,724 | 9,612 | 8,608 |
Interest Cost | 9,049 | 8,719 | 8,570 |
Return on plan assets | -13,102 | -11,171 | -11,072 |
Amortization of prior service cost | 227 | 227 | 227 |
Amortization of transition obligation | ' | ' | ' |
Recognized net actuarial loss | 7,639 | 7,356 | 3,374 |
Net pension expense | $14,537 | $14,743 | $9,707 |
Employee_Benefit_Plans_Additio
Employee Benefit Plans - Additional Information (Detail) (USD $) | 0 Months Ended | 12 Months Ended | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Investment Manager 1 [Member] | Investment manager 2 [Member] | International Countries [Member] | International Countries [Member] | Country One [Member] | Equity Securities [Member] | Debt Securities [Member] | 401(K) Savings Plan, a Medical Plan and Other Plans [Member] | 401(K) Savings Plan, a Medical Plan and Other Plans [Member] | 401(K) Savings Plan, a Medical Plan and Other Plans [Member] | Cash Holdings [Member] | Noble Drilling (Land Support) [Member] | Noble Drilling (Land Support) [Member] | Restoration Plan [Member] | Restoration Plan [Member] | Noble Drilling Corporation Profit Sharing Plan [Member] | Noble Drilling Corporation Profit Sharing Plan [Member] | Noble Drilling Corporation Profit Sharing Plan [Member] | Non-U.S. Plans [Member] | Non-U.S. Plans [Member] | Non-U.S. Plans [Member] | U.S. Plans [Member] | U.S. Plans [Member] | U.S. Plans [Member] | ||||
Minimum [Member] | Maximum [Member] | Maximum [Member] | Equity Securities [Member] | Debt Securities [Member] | |||||||||||||||||||||||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Estimated prior service cost | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0 | ' | ' | $200,000 | ' | ' |
Estimated transition obligation | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | 0 | ' | ' |
Estimated net actuarial loss | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,300,000 | ' | ' | 2,600,000 | ' | ' |
PBO for the unfunded excess benefit plan | 13,000,000 | 13,000,000 | 14,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
ABO for the unfunded excess benefit plan | 12,000,000 | 12,000,000 | 13,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6,493,000 | 6,481,000 | ' | 11,997,000 | 185,961,000 | ' |
Percentage of targeted asset allocation | ' | 10000.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7000.00% | 3000.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Performance objective communicated to investment managers | ' | ' | ' | 'to exceed a blend of FTSE A Over 15 Year Gilts index and iBoxx Sterling Non Gilts index by 1.25 percent per annum | 'to exceed a blend of FTSE's All Share index, North America index, Europe index and Pacific Basin index by 1.00 to 2.00 percent per annum | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest rate range maximum | ' | ' | ' | 1.25% | 2.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest rate range minimum | ' | ' | ' | ' | 1.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of company's overall investments | ' | ' | ' | ' | ' | ' | ' | ' | 67.00% | 32.00% | ' | ' | ' | 1.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Market cycle minimum period in which objective should be met over | ' | '3 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Market cycle maximum period in which objective should be met over | ' | '5 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Duration of Treasury bills | ' | '90 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash equivalent and short-term investments should achieve relative performance | ' | 'better than the 90-day Treasury bills | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Target equities of plant equities in percentage | ' | ' | ' | ' | ' | 20.00% | 23.00% | 30.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of total fixed income exposure from any single non-government or government agency issuer | ' | 10.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total fixed income exposure from any single non-government or government agency issuer | ' | 'Shall not exceed 10 percent of the Trust's fixed income holdings | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Average duration of the portfolio | ' | '1 year 6 months | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Investment equity securities | 4,000,000 | 4,000,000 | 4,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Investment equity securities, percentage of U.S. plan assets | ' | 2.10% | 2.30% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of no single security made up of total assets | 10.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of no single security made up of total assets of either the U.S. or the Non-U.S. plans | 'More than 10 percent | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Employer contributions | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9,365,000 | 5,647,000 | 6,000 | 6,391,000 | 10,694,000 | 5,000 |
Expected contribution to non-U.S. and U.S pension plans during 2014 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 11,000,000 | ' | ' | 2,000,000 | ' | ' |
Liability under the restoration plan | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8,000,000 | 7,000,000 | ' | ' | ' | 161,591,000 | 151,781,000 | 111,164,000 | 223,938,000 | 225,885,000 | 192,042,000 |
Number of years of service for the participants in the plan to become fully vested | ' | '5 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Employee matching contributions | ' | 'Three years beginning in 2007 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Contribution recorded related to Noble Drilling Corporation profit sharing plan | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $94,000,000 | $84,000,000 | $61,000,000 | ' | ' | ' | ' | ' | $5,000,000 | $4,000,000 | $2,000,000 | ' | ' | ' | ' | ' | ' |
Employee_Benefit_Plans_Disaggr
Employee Benefit Plans - Disaggregated Plan Information (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | |||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets | $77,561 | $76,912 | ' |
Non-U.S. Plans [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Projected benefit obligation | 161,591 | 151,781 | 111,164 |
Fair value of plan assets | 174,257 | 151,819 | 143,110 |
U.S. Plans [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Projected benefit obligation | 223,938 | 225,885 | 192,042 |
Fair value of plan assets | 201,011 | 167,170 | 140,828 |
Defined Benefit Plans - Disaggregated Plan [Member] | Non-U.S. Plans [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Projected benefit obligation | 161,591 | 151,781 | ' |
Accumulated benefit obligation | 154,140 | 146,612 | ' |
Fair value of plan assets | 174,257 | 151,819 | ' |
Defined Benefit Plans - Disaggregated Plan [Member] | U.S. Plans [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Projected benefit obligation | 223,938 | 225,885 | ' |
Accumulated benefit obligation | 185,383 | 185,961 | ' |
Fair value of plan assets | $201,011 | $167,170 | ' |
Employee_Benefit_Plans_Plans_i
Employee Benefit Plans - Plans in which PBO Exceeded Fair Value (Detail) (Projected benefit obligation [Member], USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Non-U.S. Plans [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Projected benefit obligation | $6,740 | $87,455 |
Fair value of plan assets | 5,820 | 84,007 |
U.S. Plans [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Projected benefit obligation | 200,472 | 225,885 |
Fair value of plan assets | $171,413 | $167,170 |
Employee_Benefit_Plans_Plans_i1
Employee Benefit Plans - Plans in which Accumulated Benefit Obligation Exceeded Fair Value of Plan Assets (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Accumulated benefit obligation | $12,000 | $13,000 |
Non-U.S. Plans [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Accumulated benefit obligation | 6,493 | 6,481 |
Fair value of plan assets | 5,820 | 5,074 |
U.S. Plans [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Accumulated benefit obligation | 11,997 | 185,961 |
Fair value of plan assets | ' | $167,170 |
Employee_Benefit_Plans_Defined
Employee Benefit Plans - Defined Benefit Plans Key Assumptions (Detail) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Non-U.S. Plans [Member] | Minimum [Member] | ' | ' | ' |
Weighted-average assumptions used to determine benefit obligations: | ' | ' | ' |
Discount Rate | 3.90% | 3.60% | ' |
Rate of compensation increase | 3.60% | 3.60% | ' |
Weighted-average assumptions used to determine periodic benefit cost: | ' | ' | ' |
Discount Rate | 2.50% | 4.70% | 5.30% |
Expected long-term return on assets | 2.30% | 3.90% | 2.20% |
Rate of compensation increase | 3.60% | 2.30% | 3.90% |
Non-U.S. Plans [Member] | Maximum [Member] | ' | ' | ' |
Weighted-average assumptions used to determine benefit obligations: | ' | ' | ' |
Discount Rate | 4.70% | 4.50% | ' |
Rate of compensation increase | 4.50% | 4.10% | ' |
Weighted-average assumptions used to determine periodic benefit cost: | ' | ' | ' |
Discount Rate | 4.50% | 5.00% | 5.40% |
Expected long-term return on assets | 5.70% | 5.40% | 6.30% |
Rate of compensation increase | 4.10% | 4.40% | 4.60% |
U.S. Plans [Member] | Minimum [Member] | ' | ' | ' |
Weighted-average assumptions used to determine benefit obligations: | ' | ' | ' |
Discount Rate | 3.90% | 3.10% | ' |
Rate of compensation increase | 5.00% | 5.00% | ' |
Weighted-average assumptions used to determine periodic benefit cost: | ' | ' | ' |
Discount Rate | 3.10% | 4.30% | 5.00% |
Expected long-term return on assets | 7.80% | 7.80% | 7.80% |
Rate of compensation increase | 5.00% | 5.00% | 5.00% |
U.S. Plans [Member] | Maximum [Member] | ' | ' | ' |
Weighted-average assumptions used to determine benefit obligations: | ' | ' | ' |
Discount Rate | 5.10% | 4.20% | ' |
Weighted-average assumptions used to determine periodic benefit cost: | ' | ' | ' |
Discount Rate | 4.20% | 4.70% | 5.80% |
Employee_Benefit_Plans_Actual_
Employee Benefit Plans - Actual Fair Values of Non-U.S. Pension Plans (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | |||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Estimated Fair Value Measurements | $77,561 | $76,912 | ' |
Non-U.S. Plans [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Carrying Amount | 174,257 | 151,819 | ' |
Estimated Fair Value Measurements | 174,257 | 151,819 | 143,110 |
Non-U.S. Plans [Member] | Cash [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Carrying Amount | 207 | 7,158 | ' |
Non-U.S. Plans [Member] | Equity Securities [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Carrying Amount | 54,722 | 45,560 | ' |
Non-U.S. Plans [Member] | Corporate Bonds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Carrying Amount | 41,767 | 22,189 | ' |
Non-U.S. Plans [Member] | Other [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Carrying Amount | 77,561 | 76,912 | ' |
Non-U.S. Plans [Member] | Quoted Prices in Active Markets (Level 1) [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Estimated Fair Value Measurements | 54,929 | 52,718 | ' |
Non-U.S. Plans [Member] | Quoted Prices in Active Markets (Level 1) [Member] | Cash [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Estimated Fair Value Measurements | 207 | 7,158 | ' |
Non-U.S. Plans [Member] | Quoted Prices in Active Markets (Level 1) [Member] | Equity Securities [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Estimated Fair Value Measurements | 54,722 | 45,560 | ' |
Non-U.S. Plans [Member] | Quoted Prices in Active Markets (Level 1) [Member] | Corporate Bonds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Estimated Fair Value Measurements | ' | ' | ' |
Non-U.S. Plans [Member] | Quoted Prices in Active Markets (Level 1) [Member] | Other [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Estimated Fair Value Measurements | ' | ' | ' |
Non-U.S. Plans [Member] | Significant Other Observable Inputs (Level 2) [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Estimated Fair Value Measurements | 41,767 | 22,189 | ' |
Non-U.S. Plans [Member] | Significant Other Observable Inputs (Level 2) [Member] | Cash [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Estimated Fair Value Measurements | ' | ' | ' |
Non-U.S. Plans [Member] | Significant Other Observable Inputs (Level 2) [Member] | Equity Securities [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Estimated Fair Value Measurements | ' | ' | ' |
Non-U.S. Plans [Member] | Significant Other Observable Inputs (Level 2) [Member] | Corporate Bonds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Estimated Fair Value Measurements | 41,767 | 22,189 | ' |
Non-U.S. Plans [Member] | Significant Other Observable Inputs (Level 2) [Member] | Other [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Estimated Fair Value Measurements | ' | ' | ' |
Non-U.S. Plans [Member] | Significant Unobservable Inputs (Level 3) [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Estimated Fair Value Measurements | 77,561 | 76,912 | ' |
Non-U.S. Plans [Member] | Significant Unobservable Inputs (Level 3) [Member] | Cash [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Estimated Fair Value Measurements | ' | ' | ' |
Non-U.S. Plans [Member] | Significant Unobservable Inputs (Level 3) [Member] | Equity Securities [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Estimated Fair Value Measurements | ' | ' | ' |
Non-U.S. Plans [Member] | Significant Unobservable Inputs (Level 3) [Member] | Corporate Bonds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Estimated Fair Value Measurements | ' | ' | ' |
Non-U.S. Plans [Member] | Significant Unobservable Inputs (Level 3) [Member] | Other [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Estimated Fair Value Measurements | $77,561 | $76,912 | ' |
Employee_Benefit_Plans_Schedul
Employee Benefit Plans - Schedule of Activity Related to Investments (Detail) (USD $) | 12 Months Ended |
In Thousands, unless otherwise specified | Dec. 31, 2013 |
Compensation And Retirement Disclosure [Abstract] | ' |
Fair value of plan assets at beginning of year | $76,912 |
Assets sold/benefits paid | -776 |
Gain on exchange rate | 3,478 |
Loss on investment | -2,053 |
Fair value of plan assets at end of year | $77,561 |
Employee_Benefit_Plans_Actual_1
Employee Benefit Plans - Actual Fair Values of U.S. Pension Plans (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | |||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Estimated Fair Value Measurements | $77,561 | $76,912 | ' |
U.S. Plans [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Carrying Amount | 201,011 | 167,170 | ' |
Estimated Fair Value Measurements | 201,011 | 167,170 | 140,828 |
U.S. Plans [Member] | Cash [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Carrying Amount | 2,184 | 1,609 | ' |
U.S. Plans [Member] | Corporate Bonds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Carrying Amount | 60,916 | 51,831 | ' |
U.S. Plans [Member] | United States [Member] | Equity Securities [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Carrying Amount | 104,899 | 79,264 | ' |
U.S. Plans [Member] | International Countries [Member] | Equity Securities [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Carrying Amount | 33,012 | 34,466 | ' |
U.S. Plans [Member] | Quoted Prices in Active Markets (Level 1) [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Estimated Fair Value Measurements | 176,826 | 148,018 | ' |
U.S. Plans [Member] | Quoted Prices in Active Markets (Level 1) [Member] | Cash [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Estimated Fair Value Measurements | 2,184 | 1,609 | ' |
U.S. Plans [Member] | Quoted Prices in Active Markets (Level 1) [Member] | Corporate Bonds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Estimated Fair Value Measurements | 60,916 | 51,831 | ' |
U.S. Plans [Member] | Quoted Prices in Active Markets (Level 1) [Member] | United States [Member] | Equity Securities [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Estimated Fair Value Measurements | 80,714 | 60,112 | ' |
U.S. Plans [Member] | Quoted Prices in Active Markets (Level 1) [Member] | International Countries [Member] | Equity Securities [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Estimated Fair Value Measurements | 33,012 | 34,466 | ' |
U.S. Plans [Member] | Significant Other Observable Inputs (Level 2) [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Estimated Fair Value Measurements | 24,185 | 19,152 | ' |
U.S. Plans [Member] | Significant Other Observable Inputs (Level 2) [Member] | Cash [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Estimated Fair Value Measurements | ' | ' | ' |
U.S. Plans [Member] | Significant Other Observable Inputs (Level 2) [Member] | Corporate Bonds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Estimated Fair Value Measurements | ' | ' | ' |
U.S. Plans [Member] | Significant Other Observable Inputs (Level 2) [Member] | United States [Member] | Equity Securities [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Estimated Fair Value Measurements | 24,185 | 19,152 | ' |
U.S. Plans [Member] | Significant Other Observable Inputs (Level 2) [Member] | International Countries [Member] | Equity Securities [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Estimated Fair Value Measurements | ' | ' | ' |
U.S. Plans [Member] | Significant Unobservable Inputs (Level 3) [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Estimated Fair Value Measurements | ' | ' | ' |
U.S. Plans [Member] | Significant Unobservable Inputs (Level 3) [Member] | Cash [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Estimated Fair Value Measurements | ' | ' | ' |
U.S. Plans [Member] | Significant Unobservable Inputs (Level 3) [Member] | Corporate Bonds [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Estimated Fair Value Measurements | ' | ' | ' |
U.S. Plans [Member] | Significant Unobservable Inputs (Level 3) [Member] | United States [Member] | Equity Securities [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Estimated Fair Value Measurements | ' | ' | ' |
U.S. Plans [Member] | Significant Unobservable Inputs (Level 3) [Member] | International Countries [Member] | Equity Securities [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Estimated Fair Value Measurements | ' | ' | ' |
Employee_Benefit_Plans_Estimat
Employee Benefit Plans - Estimated Benefit Payments (Detail) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Defined Benefit Plan Disclosure [Line Items] | ' |
Total | $148,141 |
2014 | 9,671 |
2015 | 8,995 |
2016 | 11,269 |
2017 | 11,309 |
2018 | 12,439 |
Thereafter | 94,458 |
Non-U.S. Plans [Member] | ' |
Defined Benefit Plan Disclosure [Line Items] | ' |
Total | 40,007 |
2014 | 2,585 |
2015 | 2,792 |
2016 | 2,997 |
2017 | 3,308 |
2018 | 3,327 |
Thereafter | 24,998 |
U.S. Plans [Member] | ' |
Defined Benefit Plan Disclosure [Line Items] | ' |
Total | 108,134 |
2014 | 7,086 |
2015 | 6,203 |
2016 | 8,272 |
2017 | 8,001 |
2018 | 9,112 |
Thereafter | $69,460 |
Derivative_Instruments_and_Hed2
Derivative Instruments and Hedging Activities - Additional Information (Detail) (USD $) | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
JointVenture | ||||
Derivative [Line Items] | ' | ' | ' | ' |
Cash flow hedge ineffectiveness | ' | $0 | $0 | ' |
Aggregate notional amount of forward contracts outstanding | ' | 0 | 0 | 500,000 |
Number of joint ventures acquired | ' | 2 | ' | ' |
Gain recognized on settlement and termination of interest rate swaps | 1,300,000 | ' | ' | 1,000,000 |
Number of Bully-class dynamically positioned joint venture-owned drillships under construction | ' | 2 | ' | ' |
Reclassification of interest rate swaps from AOCL to gain on contract extinguishments, net | ' | ' | ' | 1,000,000 |
Cash outflows recognized through the financing section of the cash flow presentation related to interest rate swaps | ' | ' | ' | 29,000,000 |
Forward Contracts [Member] | ' | ' | ' | ' |
Derivative [Line Items] | ' | ' | ' | ' |
Derivative Instrument Settled | ' | 128,000,000 | ' | ' |
Notional amount of forward contracts outstanding | ' | 0 | 0 | ' |
Interest Rate Swaps [Member] | ' | ' | ' | ' |
Derivative [Line Items] | ' | ' | ' | ' |
Cash flow hedge ineffectiveness | ' | ' | ' | $1,200,000 |
Derivative_Instruments_and_Hed3
Derivative Instruments and Hedging Activities - Net Unrealized Loss Related to Cash Flow Hedges Included in Accumulated Other Comprehensive Loss (Detail) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2012 | Dec. 31, 2011 |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' |
Net unrealized gain (loss) at beginning of period | ($3,061) | $1,970 |
Activity during period: | ' | ' |
Net unrealized loss on outstanding foreign currency forward contracts | ' | -3,061 |
Net unrealized loss at end of period | ' | -3,061 |
Cash Flow Hedges [Member] | Forward Contracts [Member] | ' | ' |
Activity during period: | ' | ' |
Cash flow hedges, settlement, during the period | 3,061 | -1,604 |
Cash Flow Hedges [Member] | Interest Rate Swaps [Member] | ' | ' |
Activity during period: | ' | ' |
Cash flow hedges, settlement, during the period | ' | ($366) |
Derivative_Instruments_and_Hed4
Derivative Instruments and Hedging Activities - Summarization of Recognized Gains and Losses of Cash Flow Hedges (Detail) (Foreign Currency Forward Contracts [Member], Cash Flow Hedges [Member], USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' |
Gain/(loss) recognized through AOCL | ($2,526) | ' |
Gain/(loss) recognized through "other income" | ' | ' |
Cash Flow Hedge Gain (Loss) Reclassified [Member] | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' |
Gain/(loss) reclassified from AOCL to "other income" | $2,526 | $3,061 |
Financial_Instruments_and_Cred2
Financial Instruments and Credit Risk - Carrying Amount and Estimated Fair Value of Financial Instruments (Detail) (Fair Value, Measurements, Recurring [Member], USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Quoted Prices in Active Markets (Level 1) [Member] | ' | ' |
Assets- | ' | ' |
Marketable securities | $7,230 | $5,816 |
Significant Other Observable Inputs (Level 2) [Member] | ' | ' |
Assets- | ' | ' |
Marketable securities | ' | ' |
Significant Unobservable Inputs (Level 3) [Member] | ' | ' |
Assets- | ' | ' |
Marketable securities | ' | ' |
Carrying Amount [Member] | ' | ' |
Assets- | ' | ' |
Marketable securities | $7,230 | $5,816 |
Financial_Instruments_and_Cred3
Financial Instruments and Credit Risk - Additional Information (Detail) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Customer Concentration Risk [Member] | Royal Dutch Shell Plc [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Percent of operating revenues contributed by major customers | 41.00% | 32.00% | 24.00% |
Customer Concentration Risk [Member] | Petroleo Brasileiro Sa [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Percent of operating revenues contributed by major customers | 12.00% | 14.00% | 18.00% |
Customer Concentration Risk [Member] | Pemex [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Percent of operating revenues contributed by major customers | ' | ' | 15.00% |
Maximum percent of operating revenue accounted by other customers | 10.00% | 10.00% | 10.00% |
Operating Revenue [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Concentration risk benchmark description | 'Consolidated operating revenues | 'Consolidated operating revenues | 'Consolidated operating revenues |
Commitments_and_Contingencies_
Commitments and Contingencies - Additional Information (Detail) (USD $) | 0 Months Ended | 3 Months Ended | 12 Months Ended |
Dec. 31, 2013 | Dec. 31, 2007 | Dec. 31, 2013 | |
Lawsuits | Employees | ||
Rigs | Rigs | ||
Other Commitments [Line Items] | ' | ' | ' |
Number of semisubmersibles | 14 | ' | 14 |
Number of Lawsuits filed | 34 | ' | ' |
Physical damage deductible per occurrence on rigs range minimum | ' | ' | $15,000,000 |
Physical damage deductible per occurrence on rigs range maximum | ' | ' | 25,000,000 |
Loss of hire coverage applies only to rigs operating under dayrate | ' | ' | 200,000 |
Number of days waiting period | ' | ' | '45 days |
Protection and indemnity policy, standard deductible (per occurrence) | ' | ' | 10,000,000 |
Maximum liability coverage under protection and indemnity policy | ' | ' | 750,000,000 |
Outstanding commitments including shipyard and purchase commitments | 2,000,000,000 | ' | 2,000,000,000 |
Years of effectiveness of employment agreements after the termination of employment | ' | ' | '3 years |
NIMASA surcharge on contracts performed by "vessels" in Nigerian coastal shipping trade; overturned and dismissed by Federal High Court of Nigeria | ' | 2.00% | ' |
Percentage of employees contribution to Industrial Training Fund | ' | ' | 1.00% |
Minimum number of employees In Entity To employer liable for contribution to Industrial Training Fund | ' | ' | 5 |
Customs and Other Business Taxes [Member] | ' | ' | ' |
Other Commitments [Line Items] | ' | ' | ' |
Audit claims, additional attributable to other business tax returns | ' | ' | 320,000,000 |
Contingent Tax Assessment Year from Two Thousand Two to Two Thousand Five [Member] | ' | ' | ' |
Other Commitments [Line Items] | ' | ' | ' |
Removed potential contingent tax exposure settlement | ' | ' | 348,000,000 |
Contingent Tax Assessment Year Prior to Two Thousand Seven [Member] | ' | ' | ' |
Other Commitments [Line Items] | ' | ' | ' |
Removed potential contingent tax exposure settlement | ' | ' | 502,000,000 |
Minimum [Member] | ' | ' | ' |
Other Commitments [Line Items] | ' | ' | ' |
Percentage of uncertain tax positions likelihood of being sustained | ' | ' | 50.00% |
Marathon Oil Company [Member] | ' | ' | ' |
Other Commitments [Line Items] | ' | ' | ' |
Drilling contract term | ' | ' | '4 years |
Libya [Member] | ' | ' | ' |
Other Commitments [Line Items] | ' | ' | ' |
Number of semisubmersibles | 2 | ' | 2 |
Operating dayrate (per day) | ' | ' | $538,000 |
Segment_and_Related_Informatio2
Segment and Related Information - Summarized Financial Information of Reportable Segment (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from external customers | $1,167,049 | $1,078,881 | $1,017,385 | $970,975 | $966,367 | $884,032 | $898,923 | $797,690 | $4,234,290 | $3,547,012 | $2,695,832 |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 879,422 | 758,621 | 658,640 |
Segment operating income | 259,526 | 378,381 | 253,860 | 229,791 | 216,738 | 178,924 | 244,495 | 143,643 | 1,121,558 | 783,800 | 490,493 |
Interest expense, net of amount capitalized | ' | ' | ' | ' | ' | ' | ' | ' | -106,300 | -85,763 | -55,727 |
Income tax (provision)/ benefit | ' | ' | ' | ' | ' | ' | ' | ' | -167,606 | -147,088 | -72,625 |
Segment profit/ (loss) | 174,060 | 281,957 | 176,620 | 150,060 | 127,577 | 114,774 | 159,818 | 120,175 | 782,697 | 522,344 | 370,898 |
Total assets (at end of period) | 16,217,957 | ' | ' | ' | 14,607,774 | ' | ' | ' | 16,217,957 | 14,607,774 | ' |
Other [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from external customers | ' | ' | ' | ' | ' | ' | ' | ' | 55,044 | 84,429 | 60,921 |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 14,296 | 13,594 | 11,498 |
Segment operating income | ' | ' | ' | ' | ' | ' | ' | ' | 232 | 11,793 | 12,573 |
Interest expense, net of amount capitalized | ' | ' | ' | ' | ' | ' | ' | ' | -105,605 | -85,369 | -53,768 |
Income tax (provision)/ benefit | ' | ' | ' | ' | ' | ' | ' | ' | 16,339 | 16,258 | 7,692 |
Segment profit/ (loss) | ' | ' | ' | ' | ' | ' | ' | ' | -82,113 | -58,124 | -35,214 |
Total assets (at end of period) | 722,886 | ' | ' | ' | 636,585 | ' | ' | ' | 722,886 | 636,585 | ' |
Operating Segments [Member] | Contract Drilling Services [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from external customers | ' | ' | ' | ' | ' | ' | ' | ' | 4,179,246 | 3,462,583 | 2,634,911 |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 865,126 | 745,027 | 647,142 |
Segment operating income | ' | ' | ' | ' | ' | ' | ' | ' | 1,121,326 | 772,007 | 477,920 |
Interest expense, net of amount capitalized | ' | ' | ' | ' | ' | ' | ' | ' | -695 | -394 | -1,959 |
Income tax (provision)/ benefit | ' | ' | ' | ' | ' | ' | ' | ' | -183,945 | -163,346 | -80,317 |
Segment profit/ (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 864,810 | 580,468 | 406,112 |
Total assets (at end of period) | $15,495,071 | ' | ' | ' | $13,971,189 | ' | ' | ' | $15,495,071 | $13,971,189 | ' |
Segment_and_Related_Informatio3
Segment and Related Information - Revenues and Identifiable Assets by Country Based on Location of Service Provided (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | $1,167,049 | $1,078,881 | $1,017,385 | $970,975 | $966,367 | $884,032 | $898,923 | $797,690 | $4,234,290 | $3,547,012 | $2,695,832 |
Identifiable Assets | 16,217,957 | ' | ' | ' | 14,607,774 | ' | ' | ' | 16,217,957 | 14,607,774 | ' |
United States [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 1,338,634 | 1,061,255 | 524,750 |
Identifiable Assets | 5,525,839 | ' | ' | ' | 5,259,294 | ' | ' | ' | 5,525,839 | 5,259,294 | ' |
Australia [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 133,214 | 42,353 | ' |
Identifiable Assets | 624,238 | ' | ' | ' | 635,171 | ' | ' | ' | 624,238 | 635,171 | ' |
Benin [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 50,821 | ' | ' |
Identifiable Assets | 803,788 | ' | ' | ' | ' | ' | ' | ' | 803,788 | ' | ' |
Brazil [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 839,993 | 714,798 | 572,015 |
Identifiable Assets | 3,921,306 | ' | ' | ' | 3,851,387 | ' | ' | ' | 3,921,306 | 3,851,387 | ' |
Cameroon [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 55,803 | ' | 17,029 |
Identifiable Assets | 48,973 | ' | ' | ' | 9,220 | ' | ' | ' | 48,973 | 9,220 | ' |
Canada [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 36,965 | 38,709 | 39,186 |
Identifiable Assets | 13,672 | ' | ' | ' | 13,952 | ' | ' | ' | 13,672 | 13,952 | ' |
China [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Identifiable Assets | ' | ' | ' | ' | 552,721 | ' | ' | ' | ' | 552,721 | ' |
Denmark [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 22,850 | 14,119 | ' |
Identifiable Assets | ' | ' | ' | ' | 21,999 | ' | ' | ' | ' | 21,999 | ' |
Egypt [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 33,685 | 103,380 | 11,261 |
India [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 103,282 | 58,355 | 102,432 |
Identifiable Assets | 188,609 | ' | ' | ' | 216,686 | ' | ' | ' | 188,609 | 216,686 | ' |
Israel [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 21,109 | 118,485 | 25,566 |
Identifiable Assets | ' | ' | ' | ' | 203,442 | ' | ' | ' | ' | 203,442 | ' |
Malaysia [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 33,841 | ' | ' |
Identifiable Assets | 23,002 | ' | ' | ' | ' | ' | ' | ' | 23,002 | ' | ' |
Malta [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 7,453 | 35,776 | 44,713 |
Identifiable Assets | 454,951 | ' | ' | ' | 165,297 | ' | ' | ' | 454,951 | 165,297 | ' |
Mexico [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 367,734 | 329,896 | 402,129 |
Identifiable Assets | 439,098 | ' | ' | ' | 537,931 | ' | ' | ' | 439,098 | 537,931 | ' |
New Zealand [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 11,995 | 9,563 | 68,153 |
Identifiable Assets | 663,165 | ' | ' | ' | ' | ' | ' | ' | 663,165 | ' | ' |
Nigeria [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 107,739 | 149,082 | 58,501 |
Identifiable Assets | 31,701 | ' | ' | ' | 65,340 | ' | ' | ' | 31,701 | 65,340 | ' |
Oman [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 12,051 | 35,400 | 4,607 |
Identifiable Assets | 47,664 | ' | ' | ' | 72,637 | ' | ' | ' | 47,664 | 72,637 | ' |
Qatar [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 139,891 | 78,047 | 132,917 |
Identifiable Assets | 119,156 | ' | ' | ' | 94,151 | ' | ' | ' | 119,156 | 94,151 | ' |
Saudi Arabia [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 246,083 | 220,657 | 96,655 |
Identifiable Assets | 584,230 | ' | ' | ' | 654,551 | ' | ' | ' | 584,230 | 654,551 | ' |
Singapore [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Identifiable Assets | 618,341 | ' | ' | ' | 586,510 | ' | ' | ' | 618,341 | 586,510 | ' |
South Korea [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Identifiable Assets | 894,347 | ' | ' | ' | 858,909 | ' | ' | ' | 894,347 | 858,909 | ' |
Switzerland [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Identifiable Assets | 32,162 | ' | ' | ' | 37,432 | ' | ' | ' | 32,162 | 37,432 | ' |
The Netherlands [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 179,718 | 210,598 | 220,489 |
Identifiable Assets | 339,560 | ' | ' | ' | 95,465 | ' | ' | ' | 339,560 | 95,465 | ' |
United Arab Emirates [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 118,290 | 79,945 | 84,253 |
Identifiable Assets | 443,166 | ' | ' | ' | 190,440 | ' | ' | ' | 443,166 | 190,440 | ' |
United Kingdom [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 333,697 | 207,667 | 164,559 |
Identifiable Assets | 400,989 | ' | ' | ' | 350,333 | ' | ' | ' | 400,989 | 350,333 | ' |
Other [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 39,442 | 38,927 | 126,617 |
Identifiable Assets | ' | ' | ' | ' | $134,906 | ' | ' | ' | ' | $134,906 | ' |
Segment_and_Related_Informatio4
Segment and Related Information - Revenues and Identifiable Assets by Country Based on Location of Service Provided (Parenthetical) (Detail) (USD $) | 12 Months Ended |
Dec. 31, 2013 | |
Segment Reporting [Abstract] | ' |
Revenue earned by jackup rigs | $0 |
Supplemental_Cash_Flow_Informa2
Supplemental Cash Flow Information - Effect of Changes in Other Assets and Liabilities on Cash Flows from Operating Activities (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Operating Capital [Line Items] | ' | ' | ' |
Accounts receivable | ($165,233) | ($143,010) | ($283,268) |
Other current assets | -47,848 | -43,246 | -51,409 |
Other assets | 34,757 | -385 | -23,821 |
Accounts payable | 50,731 | 28,565 | -12,502 |
Other current liabilities | 61,644 | 108,385 | 72,861 |
Other liabilities | 2,731 | 80,431 | 87,737 |
Net change in other assets and liabilities | -63,218 | 30,740 | -210,402 |
Noble-Cayman [Member] | ' | ' | ' |
Operating Capital [Line Items] | ' | ' | ' |
Accounts receivable | -165,233 | -143,010 | -283,268 |
Other current assets | -48,186 | -44,632 | -49,044 |
Other assets | 35,103 | -385 | -26,800 |
Accounts payable | 49,980 | 28,289 | -12,524 |
Other current liabilities | 62,516 | 108,425 | 67,238 |
Other liabilities | 2,728 | 80,432 | 87,711 |
Net change in other assets and liabilities | ($63,092) | $29,119 | ($216,687) |
Supplemental_Cash_Flow_Informa3
Supplemental Cash Flow Information - Additional Cash Flow Information (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Cash paid during the period for: | ' | ' | ' |
Interest, net of amounts capitalized | $81,897 | $56,144 | $46,180 |
Income taxes (net of refunds) | 219,088 | 148,612 | 128,162 |
Noble-Cayman [Member] | ' | ' | ' |
Cash paid during the period for: | ' | ' | ' |
Interest, net of amounts capitalized | 81,897 | 56,144 | 46,180 |
Income taxes (net of refunds) | $216,391 | $148,612 | $128,162 |
Information_about_NobleCayman_1
Information about Noble-Cayman - Guarantor Obligations (Detail) (Noble-Cayman [Member]) | 12 Months Ended |
Dec. 31, 2013 | |
7.375% Senior Notes Due 2014 [Member] | ' |
Guarantor Obligations [Line Items] | ' |
Issuer (Co-Issuer(s)) | 'NHIL |
Guarantor(s) | 'Noble-Cayman |
3.45% Senior Notes Due 2015 [Member] | ' |
Guarantor Obligations [Line Items] | ' |
Issuer (Co-Issuer(s)) | 'NHIL |
Guarantor(s) | 'Noble-Cayman |
3.05% Senior Notes Due 2016 [Member] | ' |
Guarantor Obligations [Line Items] | ' |
Issuer (Co-Issuer(s)) | 'NHIL |
Guarantor(s) | 'Noble-Cayman |
2.50% Senior Notes Due 2017 [Member] | ' |
Guarantor Obligations [Line Items] | ' |
Issuer (Co-Issuer(s)) | 'NHIL |
Guarantor(s) | 'Noble-Cayman |
7.50% Senior Notes Due 2019 [Member] | ' |
Guarantor Obligations [Line Items] | ' |
Issuer (Co-Issuer(s)) | 'NDC; Noble Drilling Services 6 llc ("NDS6") |
Guarantor(s) | 'Noble-Cayman; Noble Holding (U.S) Corporation ("NHC"); Noble Drilling Holding LLC ("NDH") |
4.90% Senior Notes Due 2020 [Member] | ' |
Guarantor Obligations [Line Items] | ' |
Issuer (Co-Issuer(s)) | 'NHIL |
Guarantor(s) | 'Noble-Cayman |
4.625% Senior Notes Due 2021 [Member] | ' |
Guarantor Obligations [Line Items] | ' |
Issuer (Co-Issuer(s)) | 'NHIL |
Guarantor(s) | 'Noble-Cayman |
3.95% Senior Notes Due 2022 [Member] | ' |
Guarantor Obligations [Line Items] | ' |
Issuer (Co-Issuer(s)) | 'NHIL |
Guarantor(s) | 'Noble-Cayman |
6.20% Senior Notes due 2040 [Member] | ' |
Guarantor Obligations [Line Items] | ' |
Issuer (Co-Issuer(s)) | 'NHIL |
Guarantor(s) | 'Noble-Cayman |
6.05% Senior Notes Due 2041 [Member] | ' |
Guarantor Obligations [Line Items] | ' |
Issuer (Co-Issuer(s)) | 'NHIL |
Guarantor(s) | 'Noble-Cayman |
5.25% Senior Notes Due 2042 [Member] | ' |
Guarantor Obligations [Line Items] | ' |
Issuer (Co-Issuer(s)) | 'NHIL |
Guarantor(s) | 'Noble-Cayman |
Information_about_NobleCayman_2
Information about Noble-Cayman - Guarantor Obligations (Parenthetical) (Detail) (USD $) | Dec. 31, 2013 |
In Millions, unless otherwise specified | |
7.375% Senior Notes Due 2014 [Member] | ' |
Guarantor Obligations [Line Items] | ' |
Interest rate on the notes | 7.38% |
Senior notes, maturity date | '2014 |
3.45% Senior Notes Due 2015 [Member] | ' |
Guarantor Obligations [Line Items] | ' |
Interest rate on the notes | 3.45% |
Senior notes, maturity date | '2015 |
3.05% Senior Notes Due 2016 [Member] | ' |
Guarantor Obligations [Line Items] | ' |
Interest rate on the notes | 3.05% |
Senior notes, maturity date | '2016 |
2.50% Senior Notes Due 2017 [Member] | ' |
Guarantor Obligations [Line Items] | ' |
Interest rate on the notes | 2.50% |
Senior notes, maturity date | '2017 |
7.50% Senior Notes Due 2019 [Member] | ' |
Guarantor Obligations [Line Items] | ' |
Interest rate on the notes | 7.50% |
Senior notes, maturity date | '2019 |
4.90% Senior Notes Due 2020 [Member] | ' |
Guarantor Obligations [Line Items] | ' |
Interest rate on the notes | 4.90% |
Senior notes, maturity date | '2020 |
4.625% Senior Notes Due 2021 [Member] | ' |
Guarantor Obligations [Line Items] | ' |
Interest rate on the notes | 4.63% |
Senior notes, maturity date | '2021 |
3.95% Senior Notes Due 2022 [Member] | ' |
Guarantor Obligations [Line Items] | ' |
Interest rate on the notes | 3.95% |
Senior notes, maturity date | '2022 |
6.20% Senior Notes due 2040 [Member] | ' |
Guarantor Obligations [Line Items] | ' |
Interest rate on the notes | 6.20% |
Senior notes, maturity date | '2040 |
6.05% Senior Notes Due 2041 [Member] | ' |
Guarantor Obligations [Line Items] | ' |
Interest rate on the notes | 6.05% |
Senior notes, maturity date | '2041 |
5.25% Senior Notes Due 2042 [Member] | ' |
Guarantor Obligations [Line Items] | ' |
Interest rate on the notes | 5.25% |
Senior notes, maturity date | '2042 |
Noble-Cayman [Member] | 7.375% Senior Notes Due 2014 [Member] | ' |
Guarantor Obligations [Line Items] | ' |
Outstanding principal balance | 250 |
Interest rate on the notes | 7.38% |
Senior notes, maturity date | '2014 |
Noble-Cayman [Member] | 3.45% Senior Notes Due 2015 [Member] | ' |
Guarantor Obligations [Line Items] | ' |
Outstanding principal balance | 350 |
Interest rate on the notes | 3.45% |
Senior notes, maturity date | '2015 |
Noble-Cayman [Member] | 3.05% Senior Notes Due 2016 [Member] | ' |
Guarantor Obligations [Line Items] | ' |
Outstanding principal balance | 300 |
Interest rate on the notes | 3.05% |
Senior notes, maturity date | '2016 |
Noble-Cayman [Member] | 2.50% Senior Notes Due 2017 [Member] | ' |
Guarantor Obligations [Line Items] | ' |
Outstanding principal balance | 300 |
Interest rate on the notes | 2.50% |
Senior notes, maturity date | '2017 |
Noble-Cayman [Member] | 7.50% Senior Notes Due 2019 [Member] | ' |
Guarantor Obligations [Line Items] | ' |
Outstanding principal balance | 202 |
Interest rate on the notes | 7.50% |
Senior notes, maturity date | '2019 |
Noble-Cayman [Member] | 4.90% Senior Notes Due 2020 [Member] | ' |
Guarantor Obligations [Line Items] | ' |
Outstanding principal balance | 500 |
Interest rate on the notes | 4.90% |
Senior notes, maturity date | '2020 |
Noble-Cayman [Member] | 4.625% Senior Notes Due 2021 [Member] | ' |
Guarantor Obligations [Line Items] | ' |
Outstanding principal balance | 400 |
Interest rate on the notes | 4.63% |
Senior notes, maturity date | '2021 |
Noble-Cayman [Member] | 3.95% Senior Notes Due 2022 [Member] | ' |
Guarantor Obligations [Line Items] | ' |
Outstanding principal balance | 400 |
Interest rate on the notes | 3.95% |
Senior notes, maturity date | '2022 |
Noble-Cayman [Member] | 6.20% Senior Notes due 2040 [Member] | ' |
Guarantor Obligations [Line Items] | ' |
Outstanding principal balance | 400 |
Interest rate on the notes | 6.20% |
Senior notes, maturity date | '2040 |
Noble-Cayman [Member] | 6.05% Senior Notes Due 2041 [Member] | ' |
Guarantor Obligations [Line Items] | ' |
Outstanding principal balance | 400 |
Interest rate on the notes | 6.05% |
Senior notes, maturity date | '2041 |
Noble-Cayman [Member] | 5.25% Senior Notes Due 2042 [Member] | ' |
Guarantor Obligations [Line Items] | ' |
Outstanding principal balance | 500 |
Interest rate on the notes | 5.25% |
Senior notes, maturity date | '2042 |
Information_about_NobleCayman_3
Information about Noble-Cayman - Summary of Impact of Change in Presentation on Historical Condensed Consolidating Balance Sheet and Condensed Consolidating Statement of Income (Detail) (USD $) | 3 Months Ended | 12 Months Ended | 12 Months Ended | ||||||||||||||||||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Other Non-guarantor Subsidiaries of Noble [Member] | Other Non-guarantor Subsidiaries of Noble [Member] | Other Non-guarantor Subsidiaries of Noble [Member] | Other Non-guarantor Subsidiaries of Noble [Member] | Other Non-guarantor Subsidiaries of Noble [Member] | Other Non-guarantor Subsidiaries of Noble [Member] | Consolidating Adjustments [Member] | Consolidating Adjustments [Member] | Consolidating Adjustments [Member] | Consolidating Adjustments [Member] | Consolidating Adjustments [Member] | Consolidating Adjustments [Member] | Consolidating Adjustments [Member] | Consolidating Adjustments [Member] | Consolidating Adjustments [Member] | |||||||||||||
As Reported [Member] | As Reported [Member] | As Reported [Member] | As Adjusted [Member] | As Adjusted [Member] | As Adjusted [Member] | As Reported [Member] | As Reported [Member] | As Reported [Member] | As Adjusted [Member] | As Adjusted [Member] | As Adjusted [Member] | ||||||||||||||||
Organization Consolidation And Presentation Of Financial Statements [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income | ' | ' | ' | ' | ' | ' | ' | ' | $850,406 | $556,137 | $363,625 | ' | $280,763 | $634,128 | $1,023,782 | $280,763 | $634,128 | $1,023,782 | ($1,446,284) | ($1,891,202) | ($1,758,285) | ($1,891,202) | ($1,758,285) | ($2,963,512) | ($1,891,202) | ($1,758,285) | ($2,963,512) |
Net comprehensive loss (income) attributable to noncontrolling interests | ' | ' | ' | ' | ' | ' | ' | ' | -67,709 | -33,793 | 7,273 | ' | -33,793 | 7,273 | -3 | -68,969 | -15,808 | -41,889 | 46,605 | 35,176 | 23,081 | ' | ' | ' | 35,176 | 23,081 | 41,886 |
Net income attributable to Noble Corporation | 174,060 | 281,957 | 176,620 | 150,060 | 127,577 | 114,774 | 159,818 | 120,175 | 782,697 | 522,344 | 370,898 | ' | 246,970 | 641,401 | 1,023,779 | 211,794 | 618,320 | 981,893 | -1,399,679 | -1,856,026 | -1,735,204 | -1,891,202 | -1,758,285 | -2,963,512 | -1,856,026 | -1,735,204 | -2,921,626 |
Total shareholder equity | 8,322,583 | ' | ' | ' | 7,723,166 | ' | ' | ' | 8,322,583 | 7,723,166 | ' | ' | 9,913,839 | 9,853,129 | ' | 9,509,343 | 9,483,809 | ' | -35,014,432 | -29,314,639 | ' | -29,719,135 | -28,268,572 | ' | -29,314,639 | -27,899,252 | ' |
Noncontrolling interests | 727,445 | ' | ' | ' | 765,124 | ' | ' | ' | 727,445 | 765,124 | ' | ' | 765,124 | 691,331 | ' | 1,169,620 | 1,060,651 | ' | -510,797 | -404,496 | ' | ' | ' | ' | -404,496 | -369,320 | ' |
Total equity | $9,050,028 | ' | ' | ' | $8,488,290 | ' | ' | ' | $9,050,028 | $8,488,290 | $8,097,852 | $7,287,634 | $10,678,963 | $10,544,460 | ' | $10,678,963 | $10,544,460 | ' | ($35,525,229) | ($29,719,135) | ' | ($29,719,135) | ($28,268,572) | ' | ($29,719,135) | ($28,268,572) | ' |
Information_about_NobleCayman_4
Information about Noble-Cayman - Condensed Consolidating Balance Sheet (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
In Thousands, unless otherwise specified | ||||
Current assets | ' | ' | ' | ' |
Cash and cash equivalents | $114,458 | $282,092 | $239,196 | $337,871 |
Accounts receivable | 949,069 | 743,673 | ' | ' |
Taxes receivable | 140,269 | 112,423 | ' | ' |
Prepaid expenses and other current assets | 187,139 | 167,137 | ' | ' |
Total current assets | 1,390,935 | 1,305,325 | ' | ' |
Property and equipment, at cost | 19,198,767 | 16,971,666 | ' | ' |
Accumulated depreciation | -4,640,677 | -3,945,694 | ' | ' |
Property and equipment, net | 14,558,090 | 13,025,972 | ' | ' |
Other assets | 268,932 | 276,477 | ' | ' |
Total assets | 16,217,957 | 14,607,774 | ' | ' |
Current liabilities | ' | ' | ' | ' |
Accounts payable | 347,214 | 350,147 | ' | ' |
Accrued payroll and related costs | 151,161 | 132,728 | ' | ' |
Taxes payable | 125,119 | 135,257 | ' | ' |
Other current liabilities | 300,172 | 226,948 | ' | ' |
Total current liabilities | 1,051,915 | 911,449 | ' | ' |
Long-term debt | 5,556,251 | 4,634,375 | ' | ' |
Deferred income taxes | 225,455 | 226,045 | ' | ' |
Other liabilities | 334,308 | 347,615 | ' | ' |
Total liabilities | 7,167,929 | 6,119,484 | ' | ' |
Commitments and contingencies | ' | ' | ' | ' |
Total shareholder equity | 8,322,583 | 7,723,166 | ' | ' |
Noncontrolling interests | 727,445 | 765,124 | ' | ' |
Total equity | 9,050,028 | 8,488,290 | 8,097,852 | 7,287,634 |
Total liabilities and equity | 16,217,957 | 14,607,774 | ' | ' |
Consolidating Adjustments [Member] | ' | ' | ' | ' |
Current assets | ' | ' | ' | ' |
Cash and cash equivalents | ' | ' | ' | ' |
Accounts receivable | ' | ' | ' | ' |
Taxes receivable | ' | ' | ' | ' |
Short-term notes receivable from affiliates | -1,781,700 | -958,383 | ' | ' |
Accounts receivable from affiliates | -9,030,553 | -8,240,037 | ' | ' |
Prepaid expenses and other current assets | ' | ' | ' | ' |
Total current assets | -10,812,253 | -9,198,420 | ' | ' |
Property and equipment, at cost | ' | ' | ' | ' |
Accumulated depreciation | ' | ' | ' | ' |
Property and equipment, net | ' | ' | ' | ' |
Notes receivable from affiliates | -7,192,024 | -11,198,259 | ' | ' |
Investments in affiliates | -35,525,229 | -29,719,135 | ' | ' |
Other assets | ' | ' | ' | ' |
Total assets | -53,529,506 | -50,115,814 | ' | ' |
Current liabilities | ' | ' | ' | ' |
Short-term notes payables from affiliates | -1,781,700 | -958,383 | ' | ' |
Accounts payable | ' | ' | ' | ' |
Accrued payroll and related costs | ' | ' | ' | ' |
Accounts payable to affiliates | -9,030,553 | -8,240,037 | ' | ' |
Taxes payable | ' | ' | ' | ' |
Other current liabilities | ' | ' | ' | ' |
Total current liabilities | -10,812,253 | -9,198,420 | ' | ' |
Long-term debt | ' | ' | ' | ' |
Notes payable to affiliates | -7,192,024 | -11,198,259 | ' | ' |
Deferred income taxes | ' | ' | ' | ' |
Other liabilities | ' | ' | ' | ' |
Total liabilities | -18,004,277 | -20,396,679 | ' | ' |
Commitments and contingencies | ' | ' | ' | ' |
Total shareholder equity | -35,014,432 | -29,314,639 | ' | ' |
Noncontrolling interests | -510,797 | -404,496 | ' | ' |
Total equity | -35,525,229 | -29,719,135 | ' | ' |
Total liabilities and equity | -53,529,506 | -50,115,814 | ' | ' |
Noble-Cayman [Member] | ' | ' | ' | ' |
Current assets | ' | ' | ' | ' |
Cash and cash equivalents | 1 | 1,003 | 146 | 42 |
Accounts receivable | ' | ' | ' | ' |
Taxes receivable | ' | ' | ' | ' |
Short-term notes receivable from affiliates | ' | ' | ' | ' |
Accounts receivable from affiliates | 1,244,019 | 664,375 | ' | ' |
Prepaid expenses and other current assets | ' | 235 | ' | ' |
Total current assets | 1,244,020 | 665,613 | ' | ' |
Property and equipment, at cost | ' | ' | ' | ' |
Accumulated depreciation | ' | ' | ' | ' |
Property and equipment, net | ' | ' | ' | ' |
Notes receivable from affiliates | 3,304,753 | 3,816,463 | ' | ' |
Investments in affiliates | 8,601,712 | 7,770,066 | ' | ' |
Other assets | 6,256 | 5,798 | ' | ' |
Total assets | 13,156,741 | 12,257,940 | ' | ' |
Current liabilities | ' | ' | ' | ' |
Short-term notes payables from affiliates | ' | 90,314 | ' | ' |
Accounts payable | ' | ' | ' | ' |
Accrued payroll and related costs | ' | ' | ' | ' |
Accounts payable to affiliates | 1,104,410 | 900,063 | ' | ' |
Taxes payable | ' | ' | ' | ' |
Other current liabilities | 412 | 1,594 | ' | ' |
Total current liabilities | 1,104,822 | 991,971 | ' | ' |
Long-term debt | 1,561,141 | 639,794 | ' | ' |
Notes payable to affiliates | 2,042,808 | 2,840,287 | ' | ' |
Deferred income taxes | ' | ' | ' | ' |
Other liabilities | 19,931 | 19,930 | ' | ' |
Total liabilities | 4,728,702 | 4,491,982 | ' | ' |
Commitments and contingencies | ' | ' | ' | ' |
Total shareholder equity | 8,428,039 | 7,765,958 | ' | ' |
Noncontrolling interests | ' | ' | ' | ' |
Total equity | 8,428,039 | 7,765,958 | ' | ' |
Total liabilities and equity | 13,156,741 | 12,257,940 | ' | ' |
NHC and NDH Combined [Member] | ' | ' | ' | ' |
Current assets | ' | ' | ' | ' |
Cash and cash equivalents | 402 | 904 | 385 | 146 |
Accounts receivable | 34,038 | 14,885 | ' | ' |
Taxes receivable | 52,307 | 8,341 | ' | ' |
Short-term notes receivable from affiliates | 1,456,245 | 119,476 | ' | ' |
Accounts receivable from affiliates | 108,208 | 140,014 | ' | ' |
Prepaid expenses and other current assets | 6,336 | 1,035 | ' | ' |
Total current assets | 1,657,536 | 284,655 | ' | ' |
Property and equipment, at cost | 2,340,216 | 2,735,223 | ' | ' |
Accumulated depreciation | -310,171 | -283,028 | ' | ' |
Property and equipment, net | 2,030,045 | 2,452,195 | ' | ' |
Notes receivable from affiliates | 124,216 | 1,206,000 | ' | ' |
Investments in affiliates | 9,502,970 | 9,170,923 | ' | ' |
Other assets | 6,332 | 320 | ' | ' |
Total assets | 13,321,099 | 13,114,093 | ' | ' |
Current liabilities | ' | ' | ' | ' |
Short-term notes payables from affiliates | 191,806 | 51,054 | ' | ' |
Accounts payable | 5,310 | 6,522 | ' | ' |
Accrued payroll and related costs | 8,582 | 6,176 | ' | ' |
Accounts payable to affiliates | 4,685,825 | 4,806,235 | ' | ' |
Taxes payable | 827 | 9,152 | ' | ' |
Other current liabilities | 22,106 | ' | ' | ' |
Total current liabilities | 4,914,456 | 4,879,139 | ' | ' |
Long-term debt | ' | ' | ' | ' |
Notes payable to affiliates | 534,683 | 648,475 | ' | ' |
Deferred income taxes | ' | ' | ' | ' |
Other liabilities | 24,502 | 17,815 | ' | ' |
Total liabilities | 5,473,641 | 5,545,429 | ' | ' |
Commitments and contingencies | ' | ' | ' | ' |
Total shareholder equity | 7,847,458 | 7,568,664 | ' | ' |
Noncontrolling interests | ' | ' | ' | ' |
Total equity | 7,847,458 | 7,568,664 | ' | ' |
Total liabilities and equity | 13,321,099 | 13,114,093 | ' | ' |
NDC [Member] | ' | ' | ' | ' |
Current assets | ' | ' | ' | ' |
Cash and cash equivalents | ' | ' | ' | ' |
Accounts receivable | 3,325 | 3,335 | ' | ' |
Taxes receivable | ' | ' | ' | ' |
Short-term notes receivable from affiliates | ' | ' | ' | ' |
Accounts receivable from affiliates | 1,137,137 | 1,015,204 | ' | ' |
Prepaid expenses and other current assets | 204 | 205 | ' | ' |
Total current assets | 1,140,666 | 1,018,744 | ' | ' |
Property and equipment, at cost | 75,856 | 76,428 | ' | ' |
Accumulated depreciation | -60,950 | -58,411 | ' | ' |
Property and equipment, net | 14,906 | 18,017 | ' | ' |
Notes receivable from affiliates | ' | ' | ' | ' |
Investments in affiliates | 2,523,808 | 3,386,879 | ' | ' |
Other assets | 173 | 543 | ' | ' |
Total assets | 3,679,553 | 4,424,183 | ' | ' |
Current liabilities | ' | ' | ' | ' |
Short-term notes payables from affiliates | 114,149 | 110,770 | ' | ' |
Accounts payable | 452 | 1,183 | ' | ' |
Accrued payroll and related costs | 9,141 | 7,611 | ' | ' |
Accounts payable to affiliates | 292,354 | 5,444 | ' | ' |
Taxes payable | 9 | ' | ' | ' |
Other current liabilities | 240 | 240 | ' | ' |
Total current liabilities | 416,345 | 125,248 | ' | ' |
Long-term debt | ' | ' | ' | ' |
Notes payable to affiliates | ' | ' | ' | ' |
Deferred income taxes | 3,275 | 15,731 | ' | ' |
Other liabilities | ' | ' | ' | ' |
Total liabilities | 419,620 | 140,979 | ' | ' |
Commitments and contingencies | ' | ' | ' | ' |
Total shareholder equity | 3,259,933 | 4,283,204 | ' | ' |
Noncontrolling interests | ' | ' | ' | ' |
Total equity | 3,259,933 | 4,283,204 | ' | ' |
Total liabilities and equity | 3,679,553 | 4,424,183 | ' | ' |
NHIL [Member] | ' | ' | ' | ' |
Current assets | ' | ' | ' | ' |
Cash and cash equivalents | 4 | 2 | ' | ' |
Accounts receivable | ' | ' | ' | ' |
Taxes receivable | ' | ' | ' | ' |
Short-term notes receivable from affiliates | 139,195 | ' | ' | ' |
Accounts receivable from affiliates | 210,868 | 526,483 | ' | ' |
Prepaid expenses and other current assets | ' | ' | ' | ' |
Total current assets | 350,067 | 526,485 | ' | ' |
Property and equipment, at cost | ' | ' | ' | ' |
Accumulated depreciation | ' | ' | ' | ' |
Property and equipment, net | ' | ' | ' | ' |
Notes receivable from affiliates | 2,367,555 | 3,524,814 | ' | ' |
Investments in affiliates | 9,456,735 | 7,413,361 | ' | ' |
Other assets | 22,681 | 25,895 | ' | ' |
Total assets | 12,197,038 | 11,490,555 | ' | ' |
Current liabilities | ' | ' | ' | ' |
Short-term notes payables from affiliates | ' | ' | ' | ' |
Accounts payable | ' | ' | ' | ' |
Accrued payroll and related costs | ' | ' | ' | ' |
Accounts payable to affiliates | 216,866 | 165,065 | ' | ' |
Taxes payable | ' | ' | ' | ' |
Other current liabilities | 62,431 | 62,430 | ' | ' |
Total current liabilities | 279,297 | 227,495 | ' | ' |
Long-term debt | 3,793,414 | 3,792,886 | ' | ' |
Notes payable to affiliates | 975,000 | 975,000 | ' | ' |
Deferred income taxes | ' | ' | ' | ' |
Other liabilities | ' | ' | ' | ' |
Total liabilities | 5,047,711 | 4,995,381 | ' | ' |
Commitments and contingencies | ' | ' | ' | ' |
Total shareholder equity | 7,149,327 | 6,495,174 | ' | ' |
Noncontrolling interests | ' | ' | ' | ' |
Total equity | 7,149,327 | 6,495,174 | ' | ' |
Total liabilities and equity | 12,197,038 | 11,490,555 | ' | ' |
NDS6 [Member] | ' | ' | ' | ' |
Current assets | ' | ' | ' | ' |
Cash and cash equivalents | ' | ' | ' | ' |
Accounts receivable | ' | ' | ' | ' |
Taxes receivable | ' | ' | ' | ' |
Short-term notes receivable from affiliates | 19,500 | 586,769 | ' | ' |
Accounts receivable from affiliates | 27,537 | 38,895 | ' | ' |
Prepaid expenses and other current assets | ' | ' | ' | ' |
Total current assets | 47,037 | 625,664 | ' | ' |
Property and equipment, at cost | ' | ' | ' | ' |
Accumulated depreciation | ' | ' | ' | ' |
Property and equipment, net | ' | ' | ' | ' |
Notes receivable from affiliates | 5,000 | 479,107 | ' | ' |
Investments in affiliates | 5,440,004 | 1,977,906 | ' | ' |
Other assets | 639 | 759 | ' | ' |
Total assets | 5,492,680 | 3,083,436 | ' | ' |
Current liabilities | ' | ' | ' | ' |
Short-term notes payables from affiliates | 750,000 | ' | ' | ' |
Accounts payable | ' | ' | ' | ' |
Accrued payroll and related costs | ' | ' | ' | ' |
Accounts payable to affiliates | 21,173 | 77,075 | ' | ' |
Taxes payable | ' | ' | ' | ' |
Other current liabilities | 4,412 | 4,412 | ' | ' |
Total current liabilities | 775,585 | 81,487 | ' | ' |
Long-term debt | 201,696 | 201,695 | ' | ' |
Notes payable to affiliates | 260,216 | 1,342,000 | ' | ' |
Deferred income taxes | ' | ' | ' | ' |
Other liabilities | ' | ' | ' | ' |
Total liabilities | 1,237,497 | 1,625,182 | ' | ' |
Commitments and contingencies | ' | ' | ' | ' |
Total shareholder equity | 4,255,183 | 1,458,254 | ' | ' |
Noncontrolling interests | ' | ' | ' | ' |
Total equity | 4,255,183 | 1,458,254 | ' | ' |
Total liabilities and equity | 5,492,680 | 3,083,436 | ' | ' |
Other Non-guarantor Subsidiaries of Noble [Member] | ' | ' | ' | ' |
Current assets | ' | ' | ' | ' |
Cash and cash equivalents | 109,975 | 275,466 | 234,525 | 333,211 |
Accounts receivable | 911,706 | 725,453 | ' | ' |
Taxes receivable | 87,722 | 103,969 | ' | ' |
Short-term notes receivable from affiliates | 166,760 | 252,138 | ' | ' |
Accounts receivable from affiliates | 6,302,784 | 5,855,066 | ' | ' |
Prepaid expenses and other current assets | 177,808 | 162,406 | ' | ' |
Total current assets | 7,756,755 | 7,374,498 | ' | ' |
Property and equipment, at cost | 16,744,278 | 14,123,496 | ' | ' |
Accumulated depreciation | -4,260,557 | -3,597,079 | ' | ' |
Property and equipment, net | 12,483,721 | 10,526,417 | ' | ' |
Notes receivable from affiliates | 1,390,500 | 2,171,875 | ' | ' |
Investments in affiliates | ' | ' | ' | ' |
Other assets | 232,933 | 243,243 | ' | ' |
Total assets | 21,863,909 | 20,316,033 | ' | ' |
Current liabilities | ' | ' | ' | ' |
Short-term notes payables from affiliates | 725,745 | 706,245 | ' | ' |
Accounts payable | 340,148 | 341,889 | ' | ' |
Accrued payroll and related costs | 125,623 | 110,149 | ' | ' |
Accounts payable to affiliates | 2,709,925 | 2,286,155 | ' | ' |
Taxes payable | 119,752 | 121,692 | ' | ' |
Other current liabilities | 210,571 | 158,259 | ' | ' |
Total current liabilities | 4,231,764 | 3,724,389 | ' | ' |
Long-term debt | ' | ' | ' | ' |
Notes payable to affiliates | 3,379,317 | 5,392,497 | ' | ' |
Deferred income taxes | 222,180 | 210,314 | ' | ' |
Other liabilities | 289,875 | 309,870 | ' | ' |
Total liabilities | 8,123,136 | 9,637,070 | ' | ' |
Commitments and contingencies | ' | ' | ' | ' |
Total shareholder equity | 12,502,531 | 9,509,343 | ' | ' |
Noncontrolling interests | 1,238,242 | 1,169,620 | ' | ' |
Total equity | 13,740,773 | 10,678,963 | ' | ' |
Total liabilities and equity | 21,863,909 | 20,316,033 | ' | ' |
Noble-Cayman [Member] | ' | ' | ' | ' |
Current assets | ' | ' | ' | ' |
Cash and cash equivalents | 110,382 | 277,375 | 235,056 | 333,399 |
Accounts receivable | 949,069 | 743,673 | ' | ' |
Taxes receivable | 140,029 | 112,310 | ' | ' |
Short-term notes receivable from affiliates | ' | ' | ' | ' |
Accounts receivable from affiliates | ' | ' | ' | ' |
Prepaid expenses and other current assets | 184,348 | 163,881 | ' | ' |
Total current assets | 1,383,828 | 1,297,239 | ' | ' |
Property and equipment, at cost | 19,160,350 | 16,935,147 | ' | ' |
Accumulated depreciation | -4,631,678 | -3,938,518 | ' | ' |
Property and equipment, net | 14,528,672 | 12,996,629 | ' | ' |
Notes receivable from affiliates | ' | ' | ' | ' |
Investments in affiliates | ' | ' | ' | ' |
Other assets | 269,014 | 276,558 | ' | ' |
Total assets | 16,181,514 | 14,570,426 | ' | ' |
Current liabilities | ' | ' | ' | ' |
Short-term notes payables from affiliates | ' | ' | ' | ' |
Accounts payable | 345,910 | 349,594 | ' | ' |
Accrued payroll and related costs | 143,346 | 123,936 | ' | ' |
Accounts payable to affiliates | ' | ' | ' | ' |
Taxes payable | 120,588 | 130,844 | ' | ' |
Other current liabilities | 300,172 | 226,935 | ' | ' |
Total current liabilities | 910,016 | 831,309 | ' | ' |
Long-term debt | 5,556,251 | 4,634,375 | ' | ' |
Notes payable to affiliates | ' | ' | ' | ' |
Deferred income taxes | 225,455 | 226,045 | ' | ' |
Other liabilities | 334,308 | 347,615 | ' | ' |
Total liabilities | 7,026,030 | 6,039,344 | ' | ' |
Commitments and contingencies | ' | ' | ' | ' |
Total shareholder equity | 8,428,039 | 7,765,958 | ' | ' |
Noncontrolling interests | 727,445 | 765,124 | ' | ' |
Total equity | 9,155,484 | 8,531,082 | 8,073,633 | 7,260,655 |
Total liabilities and equity | $16,181,514 | $14,570,426 | ' | ' |
Information_about_NobleCayman_5
Information about Noble-Cayman - Condensed Consolidating Statement of Income (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Operating revenues | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Contract drilling services | ' | ' | ' | ' | ' | ' | ' | ' | $4,070,070 | $3,349,362 | $2,556,758 |
Reimbursables | ' | ' | ' | ' | ' | ' | ' | ' | 111,874 | 115,495 | 79,195 |
Labor contract drilling services | ' | ' | ' | ' | ' | ' | ' | ' | 52,241 | 81,890 | 59,004 |
Total operating revenues | 1,167,049 | 1,078,881 | 1,017,385 | 970,975 | 966,367 | 884,032 | 898,923 | 797,690 | 4,234,290 | 3,547,012 | 2,695,832 |
Operating costs and expenses | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Contract drilling services | ' | ' | ' | ' | ' | ' | ' | ' | 2,014,217 | 1,769,428 | 1,384,200 |
Reimbursables | ' | ' | ' | ' | ' | ' | ' | ' | 85,548 | 94,096 | 58,439 |
Labor contract drilling services | ' | ' | ' | ' | ' | ' | ' | ' | 36,604 | 46,752 | 33,885 |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 879,422 | 758,621 | 658,640 |
General and administrative | ' | ' | ' | ' | ' | ' | ' | ' | 117,997 | 99,990 | 91,377 |
Loss on impairment | ' | ' | ' | ' | ' | ' | ' | ' | 43,688 | 20,384 | ' |
Gain on disposal of assets, net | ' | ' | ' | ' | ' | ' | ' | ' | -35,646 | ' | ' |
Gain on contract settlements/extinguishments, net | ' | ' | ' | ' | ' | ' | ' | ' | -46,800 | -33,255 | -21,202 |
Total operating costs and expenses | ' | ' | ' | ' | ' | ' | ' | ' | 3,112,732 | 2,763,212 | 2,205,339 |
Operating income (loss) | 259,526 | 378,381 | 253,860 | 229,791 | 216,738 | 178,924 | 244,495 | 143,643 | 1,121,558 | 783,800 | 490,493 |
Other income (expense) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest expense, net of amounts capitalized | ' | ' | ' | ' | ' | ' | ' | ' | -106,300 | -85,763 | -55,727 |
Interest income and other, net | ' | ' | ' | ' | ' | ' | ' | ' | 2,754 | 5,188 | 1,484 |
Income before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 1,018,012 | 703,225 | 436,250 |
Income tax provision | ' | ' | ' | ' | ' | ' | ' | ' | -167,606 | -147,088 | -72,625 |
Net income | ' | ' | ' | ' | ' | ' | ' | ' | 850,406 | 556,137 | 363,625 |
Net comprehensive loss (income) attributable to noncontrolling interests | ' | ' | ' | ' | ' | ' | ' | ' | -67,709 | -33,793 | 7,273 |
Net income attributable to Noble Corporation | 174,060 | 281,957 | 176,620 | 150,060 | 127,577 | 114,774 | 159,818 | 120,175 | 782,697 | 522,344 | 370,898 |
Other comprehensive income, net | ' | ' | ' | ' | ' | ' | ' | ' | 33,285 | -41,128 | -24,101 |
Noncontrolling portion of gain on interest rate swaps | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 183 |
Comprehensive income attributable to Noble Corporation | ' | ' | ' | ' | ' | ' | ' | ' | 815,982 | 481,216 | 346,980 |
Consolidating Adjustments [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating revenues | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Contract drilling services | ' | ' | ' | ' | ' | ' | ' | ' | -77,361 | -78,580 | -64,458 |
Reimbursables | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Labor contract drilling services | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other | ' | ' | ' | ' | ' | ' | ' | ' | ' | -931 | ' |
Total operating revenues | ' | ' | ' | ' | ' | ' | ' | ' | -77,361 | -79,511 | -64,458 |
Operating costs and expenses | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Contract drilling services | ' | ' | ' | ' | ' | ' | ' | ' | -77,361 | -79,511 | -64,458 |
Reimbursables | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Labor contract drilling services | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
General and administrative | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loss on impairment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Gain on disposal of assets, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Gain on contract settlements/extinguishments, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total operating costs and expenses | ' | ' | ' | ' | ' | ' | ' | ' | -77,361 | -79,511 | -64,458 |
Operating income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other income (expense) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity earnings in affiliates, net of tax | ' | ' | ' | ' | ' | ' | ' | ' | -1,446,284 | -1,891,202 | -1,758,285 |
Interest expense, net of amounts capitalized | ' | ' | ' | ' | ' | ' | ' | ' | 2,084,036 | 893,858 | 237,058 |
Interest income and other, net | ' | ' | ' | ' | ' | ' | ' | ' | -2,084,036 | -893,858 | -237,058 |
Income before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | -1,446,284 | -1,891,202 | -1,758,285 |
Income tax provision | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income | ' | ' | ' | ' | ' | ' | ' | ' | -1,446,284 | -1,891,202 | -1,758,285 |
Net comprehensive loss (income) attributable to noncontrolling interests | ' | ' | ' | ' | ' | ' | ' | ' | 46,605 | 35,176 | 23,081 |
Net income attributable to Noble Corporation | ' | ' | ' | ' | ' | ' | ' | ' | -1,399,679 | -1,856,026 | -1,735,204 |
Other comprehensive income, net | ' | ' | ' | ' | ' | ' | ' | ' | -33,285 | 41,128 | 24,101 |
Noncontrolling portion of gain on interest rate swaps | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -183 |
Comprehensive income attributable to Noble Corporation | ' | ' | ' | ' | ' | ' | ' | ' | -1,432,964 | -1,814,898 | -1,711,286 |
Noble-Cayman [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating revenues | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Contract drilling services | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reimbursables | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Labor contract drilling services | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total operating revenues | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating costs and expenses | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Contract drilling services | ' | ' | ' | ' | ' | ' | ' | ' | 24,039 | 2,646 | 3,038 |
Reimbursables | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Labor contract drilling services | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
General and administrative | ' | ' | ' | ' | ' | ' | ' | ' | 7,380 | 3,036 | 1,242 |
Loss on impairment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Gain on disposal of assets, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Gain on contract settlements/extinguishments, net | ' | ' | ' | ' | ' | ' | ' | ' | -45,000 | ' | ' |
Total operating costs and expenses | ' | ' | ' | ' | ' | ' | ' | ' | -13,581 | 5,682 | 4,280 |
Operating income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 13,581 | -5,682 | -4,280 |
Other income (expense) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity earnings in affiliates, net of tax | ' | ' | ' | ' | ' | ' | ' | ' | 975,619 | 684,446 | 488,735 |
Interest expense, net of amounts capitalized | ' | ' | ' | ' | ' | ' | ' | ' | -127,995 | -105,147 | -69,180 |
Interest income and other, net | ' | ' | ' | ' | ' | ' | ' | ' | 6,609 | 7,306 | 6,768 |
Income before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 867,814 | 580,923 | 422,043 |
Income tax provision | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income | ' | ' | ' | ' | ' | ' | ' | ' | 867,814 | 580,923 | 422,043 |
Net comprehensive loss (income) attributable to noncontrolling interests | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income attributable to Noble Corporation | ' | ' | ' | ' | ' | ' | ' | ' | 867,814 | 580,923 | 422,043 |
Other comprehensive income, net | ' | ' | ' | ' | ' | ' | ' | ' | 33,285 | -41,128 | -24,101 |
Noncontrolling portion of gain on interest rate swaps | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 183 |
Comprehensive income attributable to Noble Corporation | ' | ' | ' | ' | ' | ' | ' | ' | 901,099 | 539,795 | 398,125 |
NHC and NDH Combined [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating revenues | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Contract drilling services | ' | ' | ' | ' | ' | ' | ' | ' | 240,631 | 161,577 | 134,602 |
Reimbursables | ' | ' | ' | ' | ' | ' | ' | ' | 8,498 | 6,637 | 4,351 |
Labor contract drilling services | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4 |
Other | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total operating revenues | ' | ' | ' | ' | ' | ' | ' | ' | 249,129 | 168,214 | 138,957 |
Operating costs and expenses | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Contract drilling services | ' | ' | ' | ' | ' | ' | ' | ' | 92,554 | 63,025 | 46,305 |
Reimbursables | ' | ' | ' | ' | ' | ' | ' | ' | 6,850 | 5,886 | 4,125 |
Labor contract drilling services | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 62,778 | 60,738 | 50,462 |
General and administrative | ' | ' | ' | ' | ' | ' | ' | ' | 7,396 | 7,786 | 5,025 |
Loss on impairment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Gain on disposal of assets, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Gain on contract settlements/extinguishments, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | -4,869 | ' |
Total operating costs and expenses | ' | ' | ' | ' | ' | ' | ' | ' | 169,578 | 132,566 | 105,917 |
Operating income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 79,551 | 35,648 | 33,040 |
Other income (expense) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity earnings in affiliates, net of tax | ' | ' | ' | ' | ' | ' | ' | ' | 365,919 | 472,509 | 296,751 |
Interest expense, net of amounts capitalized | ' | ' | ' | ' | ' | ' | ' | ' | -24,237 | -44,055 | -61,271 |
Interest income and other, net | ' | ' | ' | ' | ' | ' | ' | ' | 262,717 | 40,845 | 26,291 |
Income before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 683,950 | 504,947 | 294,811 |
Income tax provision | ' | ' | ' | ' | ' | ' | ' | ' | -37,487 | -46,644 | -14,933 |
Net income | ' | ' | ' | ' | ' | ' | ' | ' | 646,463 | 458,303 | 279,878 |
Net comprehensive loss (income) attributable to noncontrolling interests | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income attributable to Noble Corporation | ' | ' | ' | ' | ' | ' | ' | ' | 646,463 | 458,303 | 279,878 |
Other comprehensive income, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Noncontrolling portion of gain on interest rate swaps | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Comprehensive income attributable to Noble Corporation | ' | ' | ' | ' | ' | ' | ' | ' | 646,463 | 458,303 | 279,878 |
NDC [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating revenues | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Contract drilling services | ' | ' | ' | ' | ' | ' | ' | ' | 20,183 | 20,033 | 19,913 |
Reimbursables | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 12 |
Labor contract drilling services | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total operating revenues | ' | ' | ' | ' | ' | ' | ' | ' | 20,183 | 20,033 | 19,925 |
Operating costs and expenses | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Contract drilling services | ' | ' | ' | ' | ' | ' | ' | ' | 7,930 | 7,476 | 7,478 |
Reimbursables | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Labor contract drilling services | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 4,539 | 4,526 | 3,767 |
General and administrative | ' | ' | ' | ' | ' | ' | ' | ' | 340 | ' | 1 |
Loss on impairment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Gain on disposal of assets, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Gain on contract settlements/extinguishments, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total operating costs and expenses | ' | ' | ' | ' | ' | ' | ' | ' | 12,809 | 12,002 | 11,246 |
Operating income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 7,374 | 8,031 | 8,679 |
Other income (expense) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity earnings in affiliates, net of tax | ' | ' | ' | ' | ' | ' | ' | ' | 106,038 | 110,820 | 64,626 |
Interest expense, net of amounts capitalized | ' | ' | ' | ' | ' | ' | ' | ' | -2,346 | -3,892 | -6,110 |
Interest income and other, net | ' | ' | ' | ' | ' | ' | ' | ' | -99 | 8 | -11 |
Income before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 110,967 | 114,967 | 67,184 |
Income tax provision | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income | ' | ' | ' | ' | ' | ' | ' | ' | 110,967 | 114,967 | 67,184 |
Net comprehensive loss (income) attributable to noncontrolling interests | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income attributable to Noble Corporation | ' | ' | ' | ' | ' | ' | ' | ' | 110,967 | 114,967 | 67,184 |
Other comprehensive income, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Noncontrolling portion of gain on interest rate swaps | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Comprehensive income attributable to Noble Corporation | ' | ' | ' | ' | ' | ' | ' | ' | 110,967 | 114,967 | 67,184 |
NHIL [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating revenues | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Contract drilling services | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reimbursables | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Labor contract drilling services | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total operating revenues | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating costs and expenses | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Contract drilling services | ' | ' | ' | ' | ' | ' | ' | ' | 110,138 | 82,736 | 59,865 |
Reimbursables | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Labor contract drilling services | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
General and administrative | ' | ' | ' | ' | ' | ' | ' | ' | 36,050 | 35,606 | 33,355 |
Loss on impairment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Gain on disposal of assets, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Gain on contract settlements/extinguishments, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total operating costs and expenses | ' | ' | ' | ' | ' | ' | ' | ' | 146,188 | 118,342 | 93,220 |
Operating income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | -146,188 | -118,342 | -93,220 |
Other income (expense) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity earnings in affiliates, net of tax | ' | ' | ' | ' | ' | ' | ' | ' | 1,072,304 | 807,590 | 579,730 |
Interest expense, net of amounts capitalized | ' | ' | ' | ' | ' | ' | ' | ' | -139,784 | -120,361 | -88,396 |
Interest income and other, net | ' | ' | ' | ' | ' | ' | ' | ' | 154,442 | 135,001 | 63,607 |
Income before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 940,774 | 703,888 | 461,721 |
Income tax provision | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income | ' | ' | ' | ' | ' | ' | ' | ' | 940,774 | 703,888 | 461,721 |
Net comprehensive loss (income) attributable to noncontrolling interests | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income attributable to Noble Corporation | ' | ' | ' | ' | ' | ' | ' | ' | 940,774 | 703,888 | 461,721 |
Other comprehensive income, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Noncontrolling portion of gain on interest rate swaps | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Comprehensive income attributable to Noble Corporation | ' | ' | ' | ' | ' | ' | ' | ' | 940,774 | 703,888 | 461,721 |
NDS6 [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating revenues | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Contract drilling services | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reimbursables | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Labor contract drilling services | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total operating revenues | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating costs and expenses | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Contract drilling services | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reimbursables | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Labor contract drilling services | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
General and administrative | ' | ' | ' | ' | ' | ' | ' | ' | 1 | 1 | 1 |
Loss on impairment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Gain on disposal of assets, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Gain on contract settlements/extinguishments, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total operating costs and expenses | ' | ' | ' | ' | ' | ' | ' | ' | 1 | 1 | 1 |
Operating income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | -1 | -1 | -1 |
Other income (expense) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity earnings in affiliates, net of tax | ' | ' | ' | ' | ' | ' | ' | ' | -1,073,596 | -184,163 | 328,443 |
Interest expense, net of amounts capitalized | ' | ' | ' | ' | ' | ' | ' | ' | -45,897 | -43,090 | -29,050 |
Interest income and other, net | ' | ' | ' | ' | ' | ' | ' | ' | 1,569,003 | 594,328 | 8,709 |
Income before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 449,509 | 367,074 | 308,101 |
Income tax provision | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income | ' | ' | ' | ' | ' | ' | ' | ' | 449,509 | 367,074 | 308,101 |
Net comprehensive loss (income) attributable to noncontrolling interests | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income attributable to Noble Corporation | ' | ' | ' | ' | ' | ' | ' | ' | 449,509 | 367,074 | 308,101 |
Other comprehensive income, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Noncontrolling portion of gain on interest rate swaps | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Comprehensive income attributable to Noble Corporation | ' | ' | ' | ' | ' | ' | ' | ' | 449,509 | 367,074 | 308,101 |
Other Non-guarantor Subsidiaries of Noble [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating revenues | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Contract drilling services | ' | ' | ' | ' | ' | ' | ' | ' | 3,886,617 | 3,246,332 | 2,466,701 |
Reimbursables | ' | ' | ' | ' | ' | ' | ' | ' | 103,376 | 108,858 | 74,832 |
Labor contract drilling services | ' | ' | ' | ' | ' | ' | ' | ' | 52,241 | 81,890 | 59,000 |
Other | ' | ' | ' | ' | ' | ' | ' | ' | 105 | 1,196 | 875 |
Total operating revenues | ' | ' | ' | ' | ' | ' | ' | ' | 4,042,339 | 3,438,276 | 2,601,408 |
Operating costs and expenses | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Contract drilling services | ' | ' | ' | ' | ' | ' | ' | ' | 1,847,324 | 1,684,593 | 1,319,187 |
Reimbursables | ' | ' | ' | ' | ' | ' | ' | ' | 78,698 | 88,210 | 54,314 |
Labor contract drilling services | ' | ' | ' | ' | ' | ' | ' | ' | 36,604 | 46,895 | 33,885 |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 809,933 | 691,425 | 602,976 |
General and administrative | ' | ' | ' | ' | ' | ' | ' | ' | 13,692 | 12,937 | 17,163 |
Loss on impairment | ' | ' | ' | ' | ' | ' | ' | ' | 43,688 | 20,384 | ' |
Gain on disposal of assets, net | ' | ' | ' | ' | ' | ' | ' | ' | -35,646 | ' | ' |
Gain on contract settlements/extinguishments, net | ' | ' | ' | ' | ' | ' | ' | ' | -1,800 | -28,386 | -21,202 |
Total operating costs and expenses | ' | ' | ' | ' | ' | ' | ' | ' | 2,792,493 | 2,516,058 | 2,006,323 |
Operating income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 1,249,846 | 922,218 | 595,085 |
Other income (expense) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity earnings in affiliates, net of tax | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest expense, net of amounts capitalized | ' | ' | ' | ' | ' | ' | ' | ' | -1,850,077 | -663,076 | -38,778 |
Interest income and other, net | ' | ' | ' | ' | ' | ' | ' | ' | 93,490 | 121,065 | 134,174 |
Income before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | -506,741 | 380,207 | 690,481 |
Income tax provision | ' | ' | ' | ' | ' | ' | ' | ' | -126,979 | -99,444 | -56,353 |
Net income | ' | ' | ' | ' | ' | ' | ' | ' | -633,720 | 280,763 | 634,128 |
Net comprehensive loss (income) attributable to noncontrolling interests | ' | ' | ' | ' | ' | ' | ' | ' | -114,314 | -68,969 | -15,808 |
Net income attributable to Noble Corporation | ' | ' | ' | ' | ' | ' | ' | ' | -748,034 | 211,794 | 618,320 |
Other comprehensive income, net | ' | ' | ' | ' | ' | ' | ' | ' | 33,285 | -41,128 | -24,101 |
Noncontrolling portion of gain on interest rate swaps | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 183 |
Comprehensive income attributable to Noble Corporation | ' | ' | ' | ' | ' | ' | ' | ' | -714,749 | 170,666 | 594,402 |
Noble-Cayman [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating revenues | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Contract drilling services | ' | ' | ' | ' | ' | ' | ' | ' | 4,070,070 | 3,349,362 | 2,556,758 |
Reimbursables | ' | ' | ' | ' | ' | ' | ' | ' | 111,874 | 115,495 | 79,195 |
Labor contract drilling services | ' | ' | ' | ' | ' | ' | ' | ' | 52,241 | 81,890 | 59,004 |
Other | ' | ' | ' | ' | ' | ' | ' | ' | 105 | 265 | 875 |
Total operating revenues | ' | ' | ' | ' | ' | ' | ' | ' | 4,234,290 | 3,547,012 | 2,695,832 |
Operating costs and expenses | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Contract drilling services | ' | ' | ' | ' | ' | ' | ' | ' | 2,004,624 | 1,760,965 | 1,371,415 |
Reimbursables | ' | ' | ' | ' | ' | ' | ' | ' | 85,548 | 94,096 | 58,439 |
Labor contract drilling services | ' | ' | ' | ' | ' | ' | ' | ' | 36,604 | 46,895 | 33,885 |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 877,250 | 756,689 | 657,205 |
General and administrative | ' | ' | ' | ' | ' | ' | ' | ' | 64,859 | 59,366 | 56,787 |
Loss on impairment | ' | ' | ' | ' | ' | ' | ' | ' | 43,688 | 20,384 | ' |
Gain on disposal of assets, net | ' | ' | ' | ' | ' | ' | ' | ' | -35,646 | ' | ' |
Gain on contract settlements/extinguishments, net | ' | ' | ' | ' | ' | ' | ' | ' | -46,800 | -33,255 | -21,202 |
Total operating costs and expenses | ' | ' | ' | ' | ' | ' | ' | ' | 3,030,127 | 2,705,140 | 2,156,529 |
Operating income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 1,204,163 | 841,872 | 539,303 |
Other income (expense) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity earnings in affiliates, net of tax | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest expense, net of amounts capitalized | ' | ' | ' | ' | ' | ' | ' | ' | -106,300 | -85,763 | -55,727 |
Interest income and other, net | ' | ' | ' | ' | ' | ' | ' | ' | 2,126 | 4,695 | 2,480 |
Income before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 1,099,989 | 760,804 | 486,056 |
Income tax provision | ' | ' | ' | ' | ' | ' | ' | ' | -164,466 | -146,088 | -71,286 |
Net income | ' | ' | ' | ' | ' | ' | ' | ' | 935,523 | 614,716 | 414,770 |
Net comprehensive loss (income) attributable to noncontrolling interests | ' | ' | ' | ' | ' | ' | ' | ' | -67,709 | -33,793 | 7,273 |
Net income attributable to Noble Corporation | ' | ' | ' | ' | ' | ' | ' | ' | 867,814 | 580,923 | 422,043 |
Other comprehensive income, net | ' | ' | ' | ' | ' | ' | ' | ' | 33,285 | -41,128 | -24,101 |
Noncontrolling portion of gain on interest rate swaps | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 183 |
Comprehensive income attributable to Noble Corporation | ' | ' | ' | ' | ' | ' | ' | ' | $901,099 | $539,795 | $398,125 |
Information_about_NobleCayman_6
Information about Noble-Cayman - Condensed Consolidating Statement of Cash Flows (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Cash flows from operating activities | ' | ' | ' |
Net cash from operating activities | $1,702,317 | $1,381,693 | $740,240 |
Cash flows from investing activities | ' | ' | ' |
Proceeds from disposal of assets | 61,000 | ' | ' |
Refund from contract extinguishments | ' | ' | 18,642 |
Net cash from investing activities | -2,485,107 | -1,790,888 | -2,521,546 |
Cash flows from financing activities | ' | ' | ' |
Net change in borrowings outstanding on bank credit facilities | 1,221,333 | -635,192 | 935,000 |
Proceeds from issuance of senior notes, net | ' | 1,186,636 | 1,087,833 |
Repayment of long-term debt | -300,000 | ' | ' |
Contributions from noncontrolling interests | ' | 40,000 | 536,000 |
Dividends paid to noncontrolling interests | -105,388 | ' | ' |
Payments of joint venture debt | ' | ' | -693,494 |
Settlement of interest rate swaps | ' | ' | -29,032 |
Financing cost on credit facilities | -2,484 | -5,221 | -2,835 |
Net cash from financing activities | 615,156 | 452,091 | 1,682,631 |
Net change in cash and cash equivalents | -167,634 | 42,896 | -98,675 |
Cash and cash equivalents, beginning of period | 282,092 | 239,196 | 337,871 |
Cash and cash equivalents, end of period | 114,458 | 282,092 | 239,196 |
Consolidating Adjustments [Member] | ' | ' | ' |
Cash flows from operating activities | ' | ' | ' |
Net cash from operating activities | ' | ' | ' |
Cash flows from investing activities | ' | ' | ' |
New construction and capital expenditures | ' | ' | ' |
Proceeds from disposal of assets | ' | ' | ' |
Notes receivable from affiliates | -294,798 | 1,188,287 | 904,625 |
Refund from contract extinguishments | ' | ' | ' |
Net cash from investing activities | -294,798 | 1,188,287 | 904,625 |
Cash flows from financing activities | ' | ' | ' |
Net change in borrowings outstanding on bank credit facilities | ' | ' | ' |
Proceeds from issuance of senior notes, net | ' | ' | ' |
Repayment of long-term debt | ' | ' | ' |
Contributions from noncontrolling interests | ' | ' | ' |
Dividends paid to noncontrolling interests | ' | ' | ' |
Payments of joint venture debt | ' | ' | ' |
Settlement of interest rate swaps | ' | ' | ' |
Financing cost on credit facilities | ' | ' | ' |
Distributions to parent company, net | ' | ' | ' |
Advances (to) from affiliates | ' | ' | ' |
Notes payable to affiliates | 294,798 | -1,188,287 | -904,625 |
Net cash from financing activities | 294,798 | -1,188,287 | -904,625 |
Net change in cash and cash equivalents | ' | ' | ' |
Cash and cash equivalents, beginning of period | ' | ' | ' |
Cash and cash equivalents, end of period | ' | ' | ' |
Noble-Cayman [Member] | ' | ' | ' |
Cash flows from operating activities | ' | ' | ' |
Net cash from operating activities | -117,993 | -86,784 | -48,906 |
Cash flows from investing activities | ' | ' | ' |
New construction and capital expenditures | ' | ' | ' |
Proceeds from disposal of assets | ' | ' | ' |
Notes receivable from affiliates | ' | ' | 20,000 |
Refund from contract extinguishments | ' | ' | ' |
Net cash from investing activities | ' | ' | 20,000 |
Cash flows from financing activities | ' | ' | ' |
Net change in borrowings outstanding on bank credit facilities | 1,221,333 | -635,192 | 935,000 |
Proceeds from issuance of senior notes, net | ' | ' | ' |
Repayment of long-term debt | -300,000 | ' | ' |
Contributions from noncontrolling interests | ' | ' | ' |
Dividends paid to noncontrolling interests | ' | ' | ' |
Payments of joint venture debt | ' | ' | ' |
Settlement of interest rate swaps | ' | ' | ' |
Financing cost on credit facilities | -2,484 | -5,221 | -2,835 |
Distributions to parent company, net | -265,880 | -175,977 | -186,048 |
Advances (to) from affiliates | -241,180 | -284,256 | -597,305 |
Notes payable to affiliates | -294,798 | 1,188,287 | -119,802 |
Net cash from financing activities | 116,991 | 87,641 | 29,010 |
Net change in cash and cash equivalents | -1,002 | 857 | 104 |
Cash and cash equivalents, beginning of period | 1,003 | 146 | 42 |
Cash and cash equivalents, end of period | 1 | 1,003 | 146 |
NHC and NDH Combined [Member] | ' | ' | ' |
Cash flows from operating activities | ' | ' | ' |
Net cash from operating activities | 290,552 | 35,177 | 17,107 |
Cash flows from investing activities | ' | ' | ' |
New construction and capital expenditures | -1,594,449 | -682,477 | -1,495,056 |
Proceeds from disposal of assets | ' | ' | ' |
Notes receivable from affiliates | ' | ' | ' |
Refund from contract extinguishments | ' | ' | ' |
Net cash from investing activities | -1,594,449 | -682,477 | -1,495,056 |
Cash flows from financing activities | ' | ' | ' |
Net change in borrowings outstanding on bank credit facilities | ' | ' | ' |
Proceeds from issuance of senior notes, net | ' | ' | ' |
Repayment of long-term debt | ' | ' | ' |
Contributions from noncontrolling interests | ' | ' | ' |
Dividends paid to noncontrolling interests | ' | ' | ' |
Payments of joint venture debt | ' | ' | ' |
Settlement of interest rate swaps | ' | ' | ' |
Financing cost on credit facilities | ' | ' | ' |
Distributions to parent company, net | ' | ' | ' |
Advances (to) from affiliates | 1,303,395 | 647,819 | 1,495,688 |
Notes payable to affiliates | ' | ' | -17,500 |
Net cash from financing activities | 1,303,395 | 647,819 | 1,478,188 |
Net change in cash and cash equivalents | -502 | 519 | 239 |
Cash and cash equivalents, beginning of period | 904 | 385 | 146 |
Cash and cash equivalents, end of period | 402 | 904 | 385 |
NDC [Member] | ' | ' | ' |
Cash flows from operating activities | ' | ' | ' |
Net cash from operating activities | -1,799 | 9,950 | -5,616 |
Cash flows from investing activities | ' | ' | ' |
New construction and capital expenditures | -751 | -2,106 | -1,380 |
Proceeds from disposal of assets | ' | ' | ' |
Notes receivable from affiliates | ' | ' | ' |
Refund from contract extinguishments | ' | ' | ' |
Net cash from investing activities | -751 | -2,106 | -1,380 |
Cash flows from financing activities | ' | ' | ' |
Net change in borrowings outstanding on bank credit facilities | ' | ' | ' |
Proceeds from issuance of senior notes, net | ' | ' | ' |
Repayment of long-term debt | ' | ' | ' |
Contributions from noncontrolling interests | ' | ' | ' |
Dividends paid to noncontrolling interests | ' | ' | ' |
Payments of joint venture debt | ' | ' | ' |
Settlement of interest rate swaps | ' | ' | ' |
Financing cost on credit facilities | ' | ' | ' |
Distributions to parent company, net | ' | ' | ' |
Advances (to) from affiliates | 2,550 | -7,844 | 41,996 |
Notes payable to affiliates | ' | ' | -35,000 |
Net cash from financing activities | 2,550 | -7,844 | 6,996 |
Net change in cash and cash equivalents | ' | ' | ' |
Cash and cash equivalents, beginning of period | ' | ' | ' |
Cash and cash equivalents, end of period | ' | ' | ' |
NHIL [Member] | ' | ' | ' |
Cash flows from operating activities | ' | ' | ' |
Net cash from operating activities | -128,315 | -96,642 | -109,171 |
Cash flows from investing activities | ' | ' | ' |
New construction and capital expenditures | ' | ' | ' |
Proceeds from disposal of assets | ' | ' | ' |
Notes receivable from affiliates | ' | -1,188,287 | -1,096,927 |
Refund from contract extinguishments | ' | ' | ' |
Net cash from investing activities | ' | -1,188,287 | -1,096,927 |
Cash flows from financing activities | ' | ' | ' |
Net change in borrowings outstanding on bank credit facilities | ' | ' | ' |
Proceeds from issuance of senior notes, net | ' | 1,186,636 | 1,087,833 |
Repayment of long-term debt | ' | ' | ' |
Contributions from noncontrolling interests | ' | ' | ' |
Dividends paid to noncontrolling interests | ' | ' | ' |
Payments of joint venture debt | ' | ' | ' |
Settlement of interest rate swaps | ' | ' | ' |
Financing cost on credit facilities | ' | ' | ' |
Distributions to parent company, net | ' | ' | ' |
Advances (to) from affiliates | 128,317 | 98,295 | 118,265 |
Notes payable to affiliates | ' | ' | ' |
Net cash from financing activities | 128,317 | 1,284,931 | 1,206,098 |
Net change in cash and cash equivalents | 2 | 2 | ' |
Cash and cash equivalents, beginning of period | 2 | ' | ' |
Cash and cash equivalents, end of period | 4 | 2 | ' |
NDS6 [Member] | ' | ' | ' |
Cash flows from operating activities | ' | ' | ' |
Net cash from operating activities | 1,523,225 | 551,358 | -20,222 |
Cash flows from investing activities | ' | ' | ' |
New construction and capital expenditures | ' | ' | ' |
Proceeds from disposal of assets | ' | ' | ' |
Notes receivable from affiliates | ' | ' | ' |
Refund from contract extinguishments | ' | ' | ' |
Net cash from investing activities | ' | ' | ' |
Cash flows from financing activities | ' | ' | ' |
Net change in borrowings outstanding on bank credit facilities | ' | ' | ' |
Proceeds from issuance of senior notes, net | ' | ' | ' |
Repayment of long-term debt | ' | ' | ' |
Contributions from noncontrolling interests | ' | ' | ' |
Dividends paid to noncontrolling interests | ' | ' | ' |
Payments of joint venture debt | ' | ' | ' |
Settlement of interest rate swaps | ' | ' | ' |
Financing cost on credit facilities | ' | ' | ' |
Distributions to parent company, net | ' | ' | ' |
Advances (to) from affiliates | -1,523,225 | -551,358 | 20,222 |
Notes payable to affiliates | ' | ' | ' |
Net cash from financing activities | -1,523,225 | -551,358 | 20,222 |
Net change in cash and cash equivalents | ' | ' | ' |
Cash and cash equivalents, beginning of period | ' | ' | ' |
Cash and cash equivalents, end of period | ' | ' | ' |
Other Non-guarantor Subsidiaries of Noble [Member] | ' | ' | ' |
Cash flows from operating activities | ' | ' | ' |
Net cash from operating activities | 202,960 | 1,007,568 | 937,295 |
Cash flows from investing activities | ' | ' | ' |
New construction and capital expenditures | -949,004 | -1,103,971 | -1,038,460 |
Proceeds from disposal of assets | 61,000 | ' | ' |
Notes receivable from affiliates | 294,798 | ' | 172,302 |
Refund from contract extinguishments | ' | ' | 18,642 |
Net cash from investing activities | -593,206 | -1,103,971 | -847,516 |
Cash flows from financing activities | ' | ' | ' |
Net change in borrowings outstanding on bank credit facilities | ' | ' | ' |
Proceeds from issuance of senior notes, net | ' | ' | ' |
Repayment of long-term debt | ' | ' | ' |
Contributions from noncontrolling interests | ' | 40,000 | 536,000 |
Dividends paid to noncontrolling interests | -105,388 | ' | ' |
Payments of joint venture debt | ' | ' | -693,494 |
Settlement of interest rate swaps | ' | ' | -29,032 |
Financing cost on credit facilities | ' | ' | ' |
Distributions to parent company, net | ' | ' | ' |
Advances (to) from affiliates | 330,143 | 97,344 | -1,078,866 |
Notes payable to affiliates | ' | ' | 1,076,927 |
Net cash from financing activities | 224,755 | 137,344 | -188,465 |
Net change in cash and cash equivalents | -165,491 | 40,941 | -98,686 |
Cash and cash equivalents, beginning of period | 275,466 | 234,525 | 333,211 |
Cash and cash equivalents, end of period | 109,975 | 275,466 | 234,525 |
Noble-Cayman [Member] | ' | ' | ' |
Cash flows from operating activities | ' | ' | ' |
Net cash from operating activities | 1,768,630 | 1,420,627 | 770,487 |
Cash flows from investing activities | ' | ' | ' |
New construction and capital expenditures | -2,544,204 | -1,788,554 | -2,534,896 |
Proceeds from disposal of assets | 61,000 | ' | ' |
Notes receivable from affiliates | ' | ' | ' |
Refund from contract extinguishments | ' | ' | 18,642 |
Net cash from investing activities | -2,483,204 | -1,788,554 | -2,516,254 |
Cash flows from financing activities | ' | ' | ' |
Net change in borrowings outstanding on bank credit facilities | 1,221,333 | -635,192 | 935,000 |
Proceeds from issuance of senior notes, net | ' | 1,186,636 | 1,087,833 |
Repayment of long-term debt | -300,000 | ' | ' |
Contributions from noncontrolling interests | ' | 40,000 | 536,000 |
Dividends paid to noncontrolling interests | -105,388 | ' | ' |
Payments of joint venture debt | ' | ' | -693,494 |
Settlement of interest rate swaps | ' | ' | -29,032 |
Financing cost on credit facilities | -2,484 | -5,221 | -2,835 |
Distributions to parent company, net | -265,880 | -175,977 | -186,048 |
Advances (to) from affiliates | ' | ' | ' |
Notes payable to affiliates | ' | ' | ' |
Net cash from financing activities | 547,581 | 410,246 | 1,647,424 |
Net change in cash and cash equivalents | -166,993 | 42,319 | -98,343 |
Cash and cash equivalents, beginning of period | 277,375 | 235,056 | 333,399 |
Cash and cash equivalents, end of period | $110,382 | $277,375 | $235,056 |
Unaudited_Interim_Financial_Da2
Unaudited Interim Financial Data - Quarterly Financial Information (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Quarterly Financial Information Disclosure [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating revenues | $1,167,049 | $1,078,881 | $1,017,385 | $970,975 | $966,367 | $884,032 | $898,923 | $797,690 | $4,234,290 | $3,547,012 | $2,695,832 |
Operating income | 259,526 | 378,381 | 253,860 | 229,791 | 216,738 | 178,924 | 244,495 | 143,643 | 1,121,558 | 783,800 | 490,493 |
Net income attributable to Noble Corporation | $174,060 | $281,957 | $176,620 | $150,060 | $127,577 | $114,774 | $159,818 | $120,175 | $782,697 | $522,344 | $370,898 |
Net income per share attributable to Noble Corporation | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Basic | $0.68 | $1.10 | $0.69 | $0.59 | $0.50 | $0.45 | $0.63 | $0.47 | $3.05 | $2.05 | $1.46 |
Diluted | $0.68 | $1.10 | $0.69 | $0.59 | $0.50 | $0.45 | $0.63 | $0.47 | $3.05 | $2.05 | $1.46 |