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Supplemental Financial Information | 6 Months Ended
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Jun. 30, 2026
Supplemental Financial Information [Abstract] |
Supplemental Financial Information | Note 9 — Supplemental Financial Information Condensed Consolidated Balance Sheets Information Restricted cash Noble’s restricted cash balance as of June 30, 2026, and December 31, 2025, was $0.2 million and $8.6 million, respectively. All restricted cash is recorded in “Prepaid expenses and other current assets.” Leases Our lease agreements are primarily for real estate, equipment, storage, dock space, and automobiles and are included within “Other assets”, “Other current liabilities”, and “Other liabilities” on our Condensed Consolidated Balance Sheets. In connection with the Diamond Transaction, the Company assumed several finance leases for well control equipment used on the drillships that included an option to purchase the leased equipment at the end of the respective lease term. During the first quarter of 2026, Noble exercised the option to purchase the leased equipment and entered into a purchase and sale agreement with EFS BOP, LLC, as seller for the purchase of four blowout preventer (“BOP”) systems. The aggregate purchase price for the equipment is $73.0 million. The third of the four BOP systems was purchased in June 2026 and was reclassified to “Property and equipment” from “Other assets” on our Condensed Consolidated Balance Sheet. The closing for the lone remaining BOP system is due to occur during the fourth quarter of 2026 consistent with the remaining lease term. Supplemental balance sheet information related to finance leases was as follows:
|  | June 30, 2026 |  | December 31, 2025
Right-of-use assets |  | $ | 23,387 |  |  | $ | 99,767 |
Current lease liabilities |  | 19,812 |  |  | 93,382 |
Notes receivable On December 8, 2025, Borr Drilling Limited ("Borr") and Noble entered into a Sale and Purchase Agreement (which was amended on January 5, 2026, the "SPA"), pursuant to which Borr agreed to buy and Noble has agreed to sell five jackup rigs (the "Purchased Rigs") for $360.0 million. In relation to the SPA, Noble provided a $150.0 million loan to Borr (the "Loan"), with three out of the five Purchased Rigs (Noble Tom Prosser, Noble Regina Allen, and Noble Resilient) used as collateral. The Loan has the seniority of Subordinated Secured obligation and matures on January 7, 2032, with the interest rate of the Loan changing over time (ranging from 7.5% to 15.0%). Furthermore, interest through the third interest payment may be paid in kind at the borrower’s election and the Loan can be prepaid at any time without premium or penalty, with certain provisions mandating prepayment. We initially recorded notes receivable equal to the fair value of the Loan estimated through the use of a discounted cash flow model. The carrying value of the notes receivable as of June 30, 2026, was $150.0 million. The notes receivable are recorded in “Other assets.” Condensed Consolidated Statements of Cash Flows Information Operating cash activities The net effect of changes in assets and liabilities on cash flows from operating activities is as follows:
|  | Six Months Ended June 30,
|  | 2026 |  | 2025
Accounts receivable |  | $ | 41,783 |  |  | $ | 35,236 |
Taxes receivable |  | 1,432 |  |  | 1,902 |
Other current assets |  | 13,901 |  |  | 159,099 |
Other assets |  | 11,530 |  |  | 31,917 |
Accounts payable |  | 13,350 |  |  | (31,255) |
Other current liabilities |  | (82,638) |  |  | (172,125) |
Other liabilities |  | 5,859 |  |  | (18,213) |
Total net change in operating assets and liabilities |  | $ | 5,217 |  |  | $ | 6,561 |
Non-cash investing and financing activities Non-cash investing and financing activities excluded from unaudited Condensed Consolidated Statements of Cash Flows are as follows:
|  | Six Months Ended June 30,
|  | 2026 |  | 2025
Accrued capital expenditures at period end |  | $ | 52,324 |  |  | $ | 40,960 |
Purchase of property and equipment via exchange of lease right-of-use assets |  | 59,087 |  |  | — |
Derecognition of right-of-use assets |  | (59,087) |  |  | — |

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