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v3.19.3

Guarantee Of Registered Securities (Tables) | 9 Months Ended
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Sep. 30, 2019
Guarantees [Abstract] |
Condensed Consolidating Statements Of Operations |
| Valaris plc |  | ENSCO International Incorporated |  | Pride International LLC |  | Other Non-Guarantor Subsidiaries of Valaris |  | Consolidating Adjustments |  | Total
OPERATING REVENUES | $ | 15.7 |  |  | $ | 53.0 |  |  | $ | — |  |  | $ | 588.8 |  |  | $ | (106.2) |  |  | $ | 551.3 |
OPERATING EXPENSES |  |  |  |  |  |  |  |  |  |  |
Contract drilling (exclusive of depreciation) | 19.3 |  |  | 45.3 |  |  | — |  |  | 538.1 |  |  | (106.2) |  |  | 496.5 |
Loss on impairment | — |  |  | — |  |  | — |  |  | 88.2 |  |  | — |  |  | 88.2 |
Depreciation | — |  |  | 7.7 |  |  | — |  |  | 155.3 |  |  | — |  |  | 163.0 |
General and administrative | 9.7 |  |  | .1 |  |  | — |  |  | 26.3 |  |  | — |  |  | 36.1 |
Total operating expenses | 29.0 |  |  | 53.1 |  |  | — |  |  | 807.9 |  |  | (106.2) |  |  | 783.8 |
EQUITY IN EARNINGS OF ARO | — |  |  | — |  |  | — |  |  | (3.7) |  |  | — |  |  | (3.7) |
OPERATING LOSS | (13.3) |  |  | (.1) |  |  | — |  |  | (222.8) |  |  | — |  |  | (236.2) |
OTHER INCOME (EXPENSE), NET | 94.7 |  |  | (5.6) |  |  | (20.2) |  |  | (33.0) |  |  | 4.3 |  |  | 40.2 |
INCOME (LOSS) BEFORE INCOME TAXES |  | 81.4 |  |  | (5.7) |  |  | (20.2) |  |  | (255.8) |  |  | 4.3 |  |  | (196.0) |
INCOME TAX PROVISION | — |  |  | (18.4) |  |  | — |  |  | 19.9 |  |  | — |  |  | 1.5 |
EQUITY LOSSES IN AFFILIATES, NET OF TAX |  | (278.5) |  |  | (40.2) |  |  | (68.0) |  |  | — |  |  | 386.7 |  |  | — |
NET LOSS |  | (197.1) |  |  | (27.5) |  |  | (88.2) |  |  | (275.7) |  |  | 391.0 |  |  | (197.5) |
NET LOSS ATTRIBUTABLE TO NONCONTROLLING INTERESTS |  | — |  |  | — |  |  | — |  |  | .4 |  |  | — |  |  | .4 |
NET LOSS ATTRIBUTABLE TO VALARIS |  | $ | (197.1) |  |  | $ | (27.5) |  |  | $ | (88.2) |  |  | $ | (275.3) |  |  | $ | 391.0 |  |  | $ | (197.1) |
VALARIS PLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS Three Months Ended September 30, 2018 (In millions) (Unaudited)
| Valaris plc |  | ENSCO International Incorporated |  | Pride International LLC |  | Other Non-Guarantor Subsidiaries of Valaris |  | Consolidating Adjustments |  | Total
OPERATING REVENUES | $ | 12.1 |  |  | $ | 40.7 |  |  | $ | — |  |  | $ | 459.2 |  |  | $ | (81.1) |  |  | $ | 430.9 |
OPERATING EXPENSES |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Contract drilling (exclusive of depreciation) | 15.2 |  |  | 36.4 |  |  | — |  |  | 356.6 |  |  | (81.1) |  |  | 327.1 |
Depreciation | — |  |  | 3.6 |  |  | — |  |  | 117.0 |  |  | — |  |  | 120.6 |
General and administrative | 10.5 |  |  | 1.9 |  |  | — |  |  | 12.7 |  |  | — |  |  | 25.1 |
OPERATING LOSS |  | (13.6) |  |  | (1.2) |  |  | — |  |  | (27.1) |  |  | — |  |  | (41.9) |
OTHER EXPENSE, NET | (.6) |  |  | (32.6) |  |  | (19.5) |  |  | (29.0) |  |  | 4.0 |  |  | (77.7) |
LOSS BEFORE INCOME TAXES |  | (14.2) |  |  | (33.8) |  |  | (19.5) |  |  | (56.1) |  |  | 4.0 |  |  | (119.6) |
INCOME TAX PROVISION | — |  |  | 9.5 |  |  | — |  |  | 13.8 |  |  | — |  |  | 23.3 |
EQUITY EARNINGS (LOSSES) IN AFFILIATES, NET OF TAX |  | (130.8) |  |  | 28.2 |  |  | 23.1 |  |  | — |  |  | 79.5 |  |  | — |
NET INCOME (LOSS) |  | (145.0) |  |  | (15.1) |  |  | 3.6 |  |  | (69.9) |  |  | 83.5 |  |  | (142.9) |
NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS |  | — |  |  | — |  |  | — |  |  | (2.1) |  |  | — |  |  | (2.1) |
NET INCOME (LOSS) ATTRIBUTABLE TO VALARIS |  | $ | (145.0) |  |  | $ | (15.1) |  |  | $ | 3.6 |  |  | $ | (72.0) |  |  | $ | 83.5 |  |  | $ | (145.0) |
VALARIS PLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS Nine Months Ended September 30, 2019 (In millions) (Unaudited)
| Valaris plc |  | ENSCO International Incorporated |  | Pride International LLC |  | Other Non-Guarantor Subsidiaries of Valaris |  | Consolidating Adjustments |  | Total
OPERATING REVENUES | $ | 47.0 |  |  | $ | 128.6 |  |  | $ | — |  |  | $ | 1,627.1 |  |  | $ | (261.6) |  |  | $ | 1,541.1 |
OPERATING EXPENSES |  |  |  |  |  |  |  |  |  |  |
Contract drilling (exclusive of depreciation) | 49.3 |  |  | 112.8 |  |  | — |  |  | 1,428.9 |  |  | (261.6) |  |  | 1,329.4 |
Loss on impairment | — |  |  | — |  |  | — |  |  | 90.7 |  |  | — |  |  | 90.7 |
Depreciation | — |  |  | 15.4 |  |  | — |  |  | 430.5 |  |  | — |  |  | 445.9 |
General and administrative | 71.0 |  |  | .3 |  |  | — |  |  | 75.6 |  |  | — |  |  | 146.9 |
Total operating expenses | 120.3 |  |  | 128.5 |  |  | — |  |  | 2,025.7 |  |  | (261.6) |  |  | 2,012.9 |
EQUITY IN EARNINGS OF ARO | — |  |  | — |  |  | — |  |  | (3.1) |  |  | — |  |  | (3.1) |
OPERATING INCOME (LOSS) | (73.3) |  |  | 0.1 |  |  | — |  |  | (401.7) |  |  | — |  |  | (474.9) |
OTHER INCOME (EXPENSE), NET | 773.5 |  |  | (36.6) |  |  | (61.0) |  |  | (126.3) |  |  | 12.7 |  |  | 562.3 |
INCOME (LOSS) BEFORE INCOME TAXES |  | 700.2 |  |  | (36.5) |  |  | (61.0) |  |  | (528.0) |  |  | 12.7 |  |  | 87.4 |
INCOME TAX PROVISION | — |  |  | 10.6 |  |  | — |  |  | 55.0 |  |  | — |  |  | 65.6 |
EQUITY EARNINGS (LOSSES) IN AFFILIATES, NET OF TAX | (682.2) |  |  | 35.1 |  |  | (14.9) |  |  | — |  |  | 662.0 |  |  | — |
NET INCOME (LOSS) |  | 18.0 |  |  | (12.0) |  |  | (75.9) |  |  | (583.0) |  |  | 674.7 |  |  | 21.8 |
NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS |  | — |  |  | — |  |  | — |  |  | (3.8) |  |  | — |  |  | (3.8) |
NET INCOME (LOSS) ATTRIBUTABLE TO VALARIS |  | $ | 18.0 |  |  | $ | (12.0) |  |  | $ | (75.9) |  |  | $ | (586.8) |  |  | $ | 674.7 |  |  | $ | 18.0 |
VALARIS PLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS Nine Months Ended September 30, 2018 (In millions) (Unaudited)
| Valaris plc |  | ENSCO International Incorporated |  | Pride International LLC |  | Other Non-Guarantor Subsidiaries of Valaris |  | Consolidating Adjustments |  | Total
OPERATING REVENUES | $ | 36.7 |  |  | $ | 120.8 |  |  | $ | — |  |  | $ | 1,387.0 |  |  | $ | (238.1) |  |  | $ | 1,306.4 |
OPERATING EXPENSES |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Contract drilling (exclusive of depreciation) | 41.6 |  |  | 109.2 |  |  | — |  |  | 1,083.9 |  |  | (238.1) |  |  | 996.6 |
Depreciation | — |  |  | 10.6 |  |  | — |  |  | 345.9 |  |  | — |  |  | 356.5 |
General and administrative | 31.0 |  |  | 2.2 |  |  | — |  |  | 45.9 |  |  | — |  |  | 79.1 |
OPERATING LOSS |  | (35.9) |  |  | (1.2) |  |  | — |  |  | (88.7) |  |  | — |  |  | (125.8) |
OTHER INCOME (EXPENSE), NET | (0.1) |  |  | (101.1) |  |  | (69.5) |  |  | (85.9) |  |  | 23.4 |  |  | (233.2) |
LOSS FROM CONTINUING OPERATIONS BEFORE INCOME TAXES |  | (36.0) |  |  | (102.3) |  |  | (69.5) |  |  | (174.6) |  |  | 23.4 |  |  | (359.0) |
INCOME TAX PROVISION | — |  |  | 32.4 |  |  | — |  |  | 34.0 |  |  | — |  |  | 66.4 |
DISCONTINUED OPERATIONS, NET | — |  |  | — |  |  | — |  |  | (8.1) |  |  | — |  |  | (8.1) |
EQUITY EARNINGS (LOSSES) IN AFFILIATES, NET OF TAX | (400.1) |  |  | 77.7 |  |  | 69.1 |  |  | — |  |  | 253.3 |  |  | — |
NET LOSS |  | (436.1) |  |  | (57.0) |  |  | (0.4) |  |  | (216.7) |  |  | 276.7 |  |  | (433.5) |
NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS |  | — |  |  | — |  |  | — |  |  | (2.6) |  |  | — |  |  | (2.6) |
NET LOSS ATTRIBUTABLE TO VALARIS |  | $ | (436.1) |  |  | $ | (57.0) |  |  | $ | (.4) |  |  | $ | (219.3) |  |  | $ | 276.7 |  |  | $ | (436.1) |
Condensed Consolidating Statements Of Comprehensive Income | VALARIS PLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE LOSS Three Months Ended September 30, 2019 (In millions) (Unaudited)
| Valaris plc |  | ENSCO International Incorporated |  | Pride International LLC |  | Other Non-Guarantor Subsidiaries of Valaris |  | Consolidating Adjustments |  | Total
NET LOSS |  | $ | (197.1) |  |  | $ | (27.5) |  |  | $ | (88.2) |  |  | $ | (275.7) |  |  | $ | 391.0 |  |  | $ | (197.5) |
OTHER COMPREHENSIVE LOSS, NET |  |  |  |  |  |  |  |  |  |  |  |
Net change in derivative fair value | — |  |  | (5.7) |  |  | — |  |  | — |  |  | — |  |  | (5.7) |
Reclassification of net losses on derivative instruments from other comprehensive income into net income | — |  |  | 4.9 |  |  | — |  |  | — |  |  | — |  |  | 4.9 |
Other | — |  |  | — |  |  | — |  |  | (.2) |  |  | — |  |  | (.2) |
NET OTHER COMPREHENSIVE LOSS |  | — |  |  | (.8) |  |  | — |  |  | (.2) |  |  | — |  |  | (1.0) |
COMPREHENSIVE LOSS |  | (197.1) |  |  | (28.3) |  |  | (88.2) |  |  | (275.9) |  |  | 391.0 |  |  | (198.5) |
COMPREHENSIVE LOSS ATTRIBUTABLE TO NONCONTROLLING INTERESTS |  | — |  |  | — |  |  | — |  |  | .4 |  |  | — |  |  | .4 |
COMPREHENSIVE LOSS ATTRIBUTABLE TO VALARIS |  | $ | (197.1) |  |  | $ | (28.3) |  |  | $ | (88.2) |  |  | $ | (275.5) |  |  | $ | 391.0 |  |  | $ | (198.1) |
VALARIS PLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME (LOSS) Three Months Ended September 30, 2018 (In millions) (Unaudited)
| Valaris plc |  | ENSCO International Incorporated |  | Pride International LLC |  | Other Non-Guarantor Subsidiaries of Valaris |  | Consolidating Adjustments |  | Total
NET INCOME (LOSS) |  | $ | (145.0) |  |  | $ | (15.1) |  |  | $ | 3.6 |  |  | $ | (69.9) |  |  | $ | 83.5 |  |  | $ | (142.9) |
OTHER COMPREHENSIVE LOSS, NET |  |  |  |  |  |  |  |  |  |  |  |
Net change in derivative fair value | — |  |  | (1.9) |  |  | — |  |  | — |  |  | — |  |  | (1.9) |
Reclassification of net gains on derivative instruments from other comprehensive income into net loss | — |  |  | .7 |  |  | — |  |  | — |  |  | — |  |  | .7 |
Other | — |  |  | — |  |  | — |  |  | (.1) |  |  | — |  |  | (.1) |
NET OTHER COMPREHENSIVE LOSS |  | — |  |  | (1.2) |  |  | — |  |  | (.1) |  |  | — |  |  | (1.3) |
COMPREHENSIVE INCOME (LOSS) |  | (145.0) |  |  | (16.3) |  |  | 3.6 |  |  | (70.0) |  |  | 83.5 |  |  | (144.2) |
COMPREHENSIVE INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS |  | — |  |  | — |  |  | — |  |  | (2.1) |  |  | — |  |  | (2.1) |
COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO VALARIS |  | $ | (145.0) |  |  | $ | (16.3) |  |  | $ | 3.6 |  |  | $ | (72.1) |  |  | $ | 83.5 |  |  | $ | (146.3) |
VALARIS PLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME (LOSS) Nine Months Ended September 30, 2019 (In millions) (Unaudited)
| Valaris plc |  | ENSCO International Incorporated |  | Pride International LLC |  | Other Non-Guarantor Subsidiaries of Valaris |  | Consolidating Adjustments |  | Total
NET INCOME (LOSS) |  | $ | 18.0 |  |  | $ | (12.0) |  |  | $ | (75.9) |  |  | $ | (583.0) |  |  | $ | 674.7 |  |  | $ | 21.8 |
OTHER COMPREHENSIVE INCOME (LOSS), NET |  |  |  |  |  |  |  |  |  |  |  |
Net change in derivative fair value | — |  |  | (7.3) |  |  | — |  |  | — |  |  | — |  |  | (7.3) |
Reclassification of net gains on derivative instruments from other comprehensive income (loss) to net income (loss) | — |  |  | 8.3 |  |  | — |  |  | — |  |  | — |  |  | 8.3 |
Other | — |  |  | — |  |  | — |  |  | (.3) |  |  | — |  |  | (.3) |
NET OTHER COMPREHENSIVE INCOME (LOSS) |  | — |  |  | 1.0 |  |  | — |  |  | (.3) |  |  | — |  |  | .7 |
COMPREHENSIVE INCOME (LOSS) |  | 18.0 |  |  | (11.0) |  |  | (75.9) |  |  | (583.3) |  |  | 674.7 |  |  | 22.5 |
COMPREHENSIVE INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS |  | — |  |  | — |  |  | — |  |  | (3.8) |  |  | — |  |  | (3.8) |
COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO VALARIS |  | $ | 18.0 |  |  | $ | (11.0) |  |  | $ | (75.9) |  |  | $ | (587.1) |  |  | $ | 674.7 |  |  | $ | 18.7 |
VALARIS PLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE LOSS Nine Months Ended September 30, 2018 (In millions) (Unaudited)
| Valaris plc |  | ENSCO International Incorporated |  | Pride International LLC |  | Other Non-Guarantor Subsidiaries of Valaris |  | Consolidating Adjustments |  | Total
NET LOSS |  | $ | (436.1) |  |  | $ | (57.0) |  |  | $ | (.4) |  |  | $ | (216.7) |  |  | $ | 276.7 |  |  | $ | (433.5) |
OTHER COMPREHENSIVE LOSS, NET |  |  |  |  |  |  |  |  |  |  |  |
Net change in derivative fair value | — |  |  | (7.6) |  |  | — |  |  | — |  |  | — |  |  | (7.6) |
Reclassification of net gains on derivative instruments from other comprehensive loss into net loss | — |  |  | (2.2) |  |  | — |  |  | — |  |  | — |  |  | (2.2) |
Other | — |  |  | — |  |  | — |  |  | (.4) |  |  | — |  |  | (.4) |
NET OTHER COMPREHENSIVE LOSS |  | — |  |  | (9.8) |  |  | — |  |  | (.4) |  |  | — |  |  | (10.2) |
COMPREHENSIVE LOSS |  | (436.1) |  |  | (66.8) |  |  | (.4) |  |  | (217.1) |  |  | 276.7 |  |  | (443.7) |
COMPREHENSIVE INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS |  | — |  |  | — |  |  | — |  |  | (2.6) |  |  | — |  |  | (2.6) |
COMPREHENSIVE LOSS ATTRIBUTABLE TO VALARIS |  | $ | (436.1) |  |  | $ | (66.8) |  |  | $ | (.4) |  |  | $ | (219.7) |  |  | $ | 276.7 |  |  | $ | (446.3) |
Condensed Consolidating Balance Sheets |
| Valaris plc |  | ENSCO International Incorporated |  | Pride International LLC |  | Other Non-Guarantor Subsidiaries of Valaris |  | Consolidating Adjustments |  | Total
ASSETS |  |  |  |  |  |  |  |  |  |  |
CURRENT ASSETS |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 72.5 |  |  | $ | — |  |  | $ | — |  |  | $ | 57.0 |  |  | $ | — |  |  | $ | 129.5 |
Short-term investments | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Accounts receivable, net | 2.0 |  |  | 25.4 |  |  | — |  |  | 539.6 |  |  | — |  |  | 567.0 |
Accounts receivable from affiliates | 3,282.0 |  |  | 372.2 |  |  | 2.0 |  |  | 280.5 |  |  | (3,936.7) |  |  | — |
Other | — |  |  | 8.9 |  |  | — |  |  | 478.6 |  |  | — |  |  | 487.5 |
Total current assets | 3,356.5 |  |  | 406.5 |  |  | 2.0 |  |  | 1,355.7 |  |  | (3,936.7) |  |  | 1,184.0 |
PROPERTY AND EQUIPMENT, AT COST | 1.8 |  |  | 123.2 |  |  | — |  |  | 18,267.9 |  |  | — |  |  | 18,392.9 |
Less accumulated depreciation | 1.8 |  |  | 82.8 |  |  | — |  |  | 3,057.6 |  |  | — |  |  | 3,142.2 |
Property and equipment, net | — |  |  | 40.4 |  |  | — |  |  | 15,210.3 |  |  | — |  |  | 15,250.7 |
LONG-TERM NOTES RECEIVABLE FROM ARO | — |  |  | — |  |  | — |  |  | 452.9 |  |  | — |  |  | 452.9 |
INVESTMENT IN ARO | — |  |  | — |  |  | — |  |  | 138.2 |  |  | — |  |  | 138.2 |
DUE FROM AFFILIATES | 1,100.0 |  |  | — |  |  | 38.9 |  |  | 2,590.3 |  |  | (3,729.2) |  |  | — |
INVESTMENTS IN AFFILIATES | 9,934.2 |  |  | 776.1 |  |  | 1,184.9 |  |  | — |  |  | (11,895.2) |  |  | — |
OTHER ASSETS | 1.5 |  |  | — |  |  | — |  |  | 203.3 |  |  | — |  |  | 204.8 |
| $ | 14,392.2 |  |  | $ | 1,223.0 |  |  | $ | 1,225.8 |  |  | $ | 19,950.7 |  |  | $ | (19,561.1) |  |  | $ | 17,230.6 |
LIABILITIES AND SHAREHOLDERS' EQUITY |  |  |  |  |  |  |  |  |  |  |
CURRENT LIABILITIES |  |  |  |  |  |  |  |  |  |  |
Accounts payable and accrued liabilities | $ | 81.6 |  |  | $ | 22.1 |  |  | $ | 4.7 |  |  | $ | 625.7 |  |  | $ | — |  |  | $ | 734.1 |
Accounts payable to affiliates | 213.7 |  |  | 112.9 |  |  | 796.8 |  |  | 2,813.3 |  |  | (3,936.7) |  |  | — |
Current maturities of long-term debt | — |  |  | — |  |  | 125.5 |  |  | — |  |  | — |  |  | 125.5 |
Total current liabilities | 295.3 |  |  | 135.0 |  |  | 927.0 |  |  | 3,439.0 |  |  | (3,936.7) |  |  | 859.6 |
DUE TO AFFILIATES | 1,454.3 |  |  | 542.4 |  |  | 593.6 |  |  | 1,138.9 |  |  | (3,729.2) |  |  | — |
LONG-TERM DEBT | 3,122.7 |  |  | 111.7 |  |  | 373.6 |  |  | 2,434.3 |  |  | — |  |  | 6,042.3 |
OTHER LIABILITIES | (10.6) |  |  | 56.0 |  |  | — |  |  | 752.8 |  |  | — |  |  | 798.2 |
VALARIS SHAREHOLDERS' EQUITY (DEFICIT) |  | 9,530.5 |  |  | 377.9 |  |  | (668.4) |  |  | 12,186.6 |  |  | (11,895.2) |  |  | 9,531.4 |
NONCONTROLLING INTERESTS | — |  |  | — |  |  | — |  |  | (.9) |  |  | — |  |  | (.9) |
Total equity (deficit) | 9,530.5 |  |  | 377.9 |  |  | (668.4) |  |  | 12,185.7 |  |  | (11,895.2) |  |  | 9,530.5 |
| $ | 14,392.2 |  |  | $ | 1,223.0 |  |  | $ | 1,225.8 |  |  | $ | 19,950.7 |  |  | $ | (19,561.1) |  |  | $ | 17,230.6 |
VALARIS PLC AND SUBSIDIARIES CONDENSED CONSOLIDATING BALANCE SHEETS December 31, 2018 (In millions)
| Valaris plc |  | ENSCO International Incorporated |  | Pride International LLC |  | Other Non-Guarantor Subsidiaries of Valaris |  | Consolidating Adjustments |  | Total
ASSETS |  |  |  |  |  |  |  |  |  |  |
CURRENT ASSETS |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 199.8 |  |  | $ | — |  |  | $ | 2.7 |  |  | $ | 72.6 |  |  | $ | — |  |  | $ | 275.1 |
Short-term investments | 329.0 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 329.0 |
Accounts receivable, net | 7.3 |  |  | 25.4 |  |  | — |  |  | 312.0 |  |  | — |  |  | 344.7 |
Accounts receivable from affiliates | 1,861.2 |  |  | 171.4 |  |  | — |  |  | 131.7 |  |  | (2,164.3) |  |  | — |
Other | .6 |  |  | 6.0 |  |  | — |  |  | 354.3 |  |  | — |  |  | 360.9 |
Total current assets | 2,397.9 |  |  | 202.8 |  |  | 2.7 |  |  | 870.6 |  |  | (2,164.3) |  |  | 1,309.7 |
PROPERTY AND EQUIPMENT, AT COST | 1.8 |  |  | 125.2 |  |  | — |  |  | 15,390.0 |  |  | — |  |  | 15,517.0 |
Less accumulated depreciation | 1.8 |  |  | 91.3 |  |  | — |  |  | 2,807.7 |  |  | — |  |  | 2,900.8 |
Property and equipment, net | — |  |  | 33.9 |  |  | — |  |  | 12,582.3 |  |  | — |  |  | 12,616.2 |
DUE FROM AFFILIATES | 2,413.8 |  |  | 234.5 |  |  | 125.0 |  |  | 2,715.1 |  |  | (5,488.4) |  |  | — |
INVESTMENTS IN AFFILIATES | 8,522.6 |  |  | 3,713.7 |  |  | 1,199.9 |  |  | — |  |  | (13,436.2) |  |  | — |
OTHER ASSETS | 8.1 |  |  | — |  |  | — |  |  | 89.7 |  |  | — |  |  | 97.8 |
| $ | 13,342.4 |  |  | $ | 4,184.9 |  |  | $ | 1,327.6 |  |  | $ | 16,257.7 |  |  | $ | (21,088.9) |  |  | $ | 14,023.7 |
LIABILITIES AND SHAREHOLDERS' EQUITY |  |  |  |  |  |  |  |  |  |  |
CURRENT LIABILITIES |  |  |  |  |  |  |  |  |  |  |
Accounts payable and accrued liabilities | $ | 85.3 |  |  | $ | 32.0 |  |  | $ | 12.7 |  |  | $ | 398.5 |  |  | $ | — |  |  | $ | 528.5 |
Accounts payable to affiliates | 59.7 |  |  | 139.5 |  |  | 38.2 |  |  | 1,926.9 |  |  | (2,164.3) |  |  | — |
Total current liabilities | 145.0 |  |  | 171.5 |  |  | 50.9 |  |  | 2,325.4 |  |  | (2,164.3) |  |  | 528.5 |
DUE TO AFFILIATES | 1,432.0 |  |  | 1,226.9 |  |  | 1,366.5 |  |  | 1,463.0 |  |  | (5,488.4) |  |  | — |
LONG-TERM DEBT | 3,676.5 |  |  | 149.3 |  |  | 502.6 |  |  | 682.0 |  |  | — |  |  | 5,010.4 |
OTHER LIABILITIES | 0.1 |  |  | 64.3 |  |  | — |  |  | 331.6 |  |  | — |  |  | 396.0 |
VALARIS SHAREHOLDERS' EQUITY (DEFICIT) |  | 8,088.8 |  |  | 2,572.9 |  |  | (592.4) |  |  | 11,458.3 |  |  | (13,436.2) |  |  | 8,091.4 |
NONCONTROLLING INTERESTS | — |  |  | — |  |  | — |  |  | (2.6) |  |  | — |  |  | (2.6) |
Total equity (deficit) | 8,088.8 |  |  | 2,572.9 |  |  | (592.4) |  |  | 11,455.7 |  |  | (13,436.2) |  |  | 8,088.8 |
| $ | 13,342.4 |  |  | $ | 4,184.9 |  |  | $ | 1,327.6 |  |  | $ | 16,257.7 |  |  | $ | (21,088.9) |  |  | $ | 14,023.7 |
Condensed Consolidating Statements Of Cash Flows |
VALARIS PLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS Nine Months Ended September 30, 2019 (In millions) (Unaudited) |  |  |  |  |  |  |  |  |  |  |
| Valaris plc |  | ENSCO International Incorporated |  | Pride International LLC |  | Other Non-guarantor Subsidiaries of Valaris |  | Consolidating Adjustments |  | Total
OPERATING ACTIVITIES |  |  |  |  |  |  |  |  |  |  |
Net cash used in operating activities of continuing operations |  | $ | (125.2) |  |  | $ | (82.3) |  |  | $ | (98.0) |  |  | $ | (122.0) |  |  | $ | — |  |  | $ | (427.5) |
INVESTING ACTIVITIES |  |  |  |  |  |  |  |  |  |  |
Rowan cash acquired | — |  |  | — |  |  | — |  |  | 931.9 |  |  | — |  |  | 931.9 |
Maturities of short-term investments | 474.0 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 474.0 |
Purchases of short-term investments | (145.0) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (145.0) |
Additions to property and equipment | — |  |  | — |  |  | — |  |  | (174.2) |  |  | — |  |  | (174.2) |
Other | — |  |  | — |  |  | — |  |  | 4.9 |  |  | — |  |  | 4.9 |
Net cash provided by investing activities of continuing operations |  | 329.0 |  |  | — |  |  | — |  |  | 762.6 |  |  | — |  |  | 1,091.6 |
FINANCING ACTIVITIES |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Reduction of long-term borrowings | (536.6) |  |  | (30.4) |  |  | — |  |  | (361.1) |  |  | — |  |  | (928.1) |
Cash dividends paid | (4.5) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (4.5) |
Borrowings on credit facility | 175.0 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 175.0 |
Repayments of credit facility borrowings | (34.4) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (34.4) |
Debt solicitation fee | — |  |  | — |  |  | — |  |  | (9.4) |  |  | — |  |  | (9.4) |
Other | (5.3) |  |  | — |  |  | — |  |  | (2.4) |  |  | — |  |  | (7.7) |
Advances from (to) affiliates | 74.7 |  |  | 112.7 |  |  | 95.3 |  |  | (282.7) |  |  | — |  |  | — |
Net cash provided by (used in) financing activities |  | (331.1) |  |  | 82.3 |  |  | 95.3 |  |  | (655.6) |  |  | — |  |  | (809.1) |
Net cash provided by discontinued operations |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Effect of exchange rate changes on cash and cash equivalents | — |  |  | — |  |  | — |  |  | (.6) |  |  |  |  |  | (.6) |
NET DECREASE IN CASH AND CASH EQUIVALENTS |  | (127.3) |  |  | — |  |  | (2.7) |  |  | (15.6) |  |  | — |  |  | (145.6) |
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD | 199.8 |  |  | — |  |  | 2.7 |  |  | 72.6 |  |  | — |  |  | 275.1 |
CASH AND CASH EQUIVALENTS, END OF PERIOD | $ | 72.5 |  |  | $ | — |  |  | $ | — |  |  | $ | 57.0 |  |  | $ | — |  |  | $ | 129.5 |
VALARIS PLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS Nine Months Ended September 30, 2018 (In millions) (Unaudited) |  |  |  |  |  |  |  |  |  |  |
| Valaris plc |  | ENSCO International Incorporated |  | Pride International LLC |  | Other Non-guarantor Subsidiaries of Valaris |  | Consolidating Adjustments |  | Total
OPERATING ACTIVITIES |  |  |  |  |  |  |  |  |  |  |
Net cash provided by (used in) operating activities of continuing operations |  | $ | 19.7 |  |  | $ | (257.2) |  |  | $ | (85.1) |  |  | $ | 240.4 |  |  | $ | — |  |  | $ | (82.2) |
INVESTING ACTIVITIES |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Maturities of short-term investments | 675.0 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 675.0 |
Purchases of short-term investments | (669.0) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (669.0) |
Additions to property and equipment | — |  |  | — |  |  | — |  |  | (378.7) |  |  | — |  |  | (378.7) |
Sale of affiliate debt | 479.0 |  |  | — |  |  | — |  |  | — |  |  | (479.0) |  |  | — |
Purchase of affiliate debt | (552.5) |  |  | — |  |  | — |  |  | — |  |  | 552.5 |  |  | — |
Other | — |  |  | — |  |  | — |  |  | 10.0 |  |  | — |  |  | 10.0 |
Net cash used in investing activities of continuing operations |  | (67.5) |  |  | — |  |  | — |  |  | (368.7) |  |  | 73.5 |  |  | (362.7) |
FINANCING ACTIVITIES |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Proceeds from issuance of senior notes | 1,000.0 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 1,000.0 |
Reduction of long-term borrowings | (159.9) |  |  | — |  |  | (537.8) |  |  | — |  |  | (73.5) |  |  | (771.2) |
Cash dividends paid | (13.4) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (13.4) |
Debt issuance costs | (17.0) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (17.0) |
Advances from affiliates | (798.5) |  |  | 257.2 |  |  | 603.2 |  |  | (61.9) |  |  | — |  |  | — |
Other | (1.9) |  |  | — |  |  | — |  |  | (2.8) |  |  | — |  |  | (4.7) |
Net cash provided by (used in) financing activities |  | 9.3 |  |  | 257.2 |  |  | 65.4 |  |  | (64.7) |  |  | (73.5) |  |  | 193.7 |
Net cash provided by discontinued operations |  | — |  |  | — |  |  | — |  |  | 2.5 |  |  | — |  |  | 2.5 |
Effect of exchange rate changes on cash and cash equivalents | — |  |  | — |  |  | — |  |  | (.7) |  |  | — |  |  | (.7) |
NET DECREASE IN CASH AND CASH EQUIVALENTS |  | (38.5) |  |  | — |  |  | (19.7) |  |  | (191.2) |  |  | — |  |  | (249.4) |
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD | 185.2 |  |  | — |  |  | 25.6 |  |  | 234.6 |  |  | — |  |  | 445.4 |
CASH AND CASH EQUIVALENTS, END OF PERIOD | $ | 146.7 |  |  | $ | — |  |  | $ | 5.9 |  |  | $ | 43.4 |  |  | $ | — |  |  | $ | 196.0 |

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