XML 49 R36.htm IDEA: XBRL DOCUMENT v3.19.3

Segment Information (Tables)

9 Months Ended

Sep. 30, 2019

Segment Reporting Information, Revenue for Reportable Segment [Abstract]

Schedule Of Segment Reporting Information

Segment information for the three-month and nine-month periods ended September 30, 2019 and 2018 is presented below (in millions):

Three Months Ended September 30, 2019

			Floaters						Jackups						ARO						Other						Reconciling Items						Consolidated Total
Revenues			$	269.8					$	217.8					$	138.4					$	63.7					$	(138.4)					$	551.3
Operating expenses
Contract drilling (exclusive of depreciation)			250.3						213.5						92.7						32.7						(92.7)						496.5
Loss on impairment			88.2						—						—						—						—						88.2
Depreciation			98.1						59.0						14.6						—						(8.7)						163.0
General and administrative			—						—						8.8						—						27.3						36.1
Equity in earnings of ARO			—						—						—						—						(3.7)						(3.7)
Operating income (loss)			$	(166.8)					$	(54.7)					$	22.3					$	31.0					$	(68.0)					$	(236.2)
Property and equipment, net			$	10,187.5					$	5,022.0					$	652.5					$	—					$	(611.3)					$	15,250.7

Three Months Ended September 30, 2018

			Floaters						Jackups						ARO						Other						Reconciling Items						Consolidated Total
Revenues			$	241.8					$	173.3					$	—					$	15.8					$	—					$	430.9
Operating expenses
Contract drilling (exclusive of depreciation)			175.6						136.4						—						15.1						—						327.1
Depreciation			77.8						39.3						—						—						3.5						120.6
General and administrative			—						—						—						—						25.1						25.1
Operating income (loss)			$	(11.6)					$	(2.4)					$	—					$	0.7					$	(28.6)					$	(41.9)
Property and equipment, net			$	9,501.7					$	3,190.2					$	—					$	—					$	39.7					$	12,731.6

Nine Months Ended September 30, 2019

			Floaters						Jackups						ARO						Other						Reconciling Items						Consolidated Total
Revenues			$	798.1					$	604.0					$	262.2					$	139.0					$	(262.2)					$	1,541.1
Operating expenses
Contract drilling (exclusive of depreciation)			681.3						561.1						171.7						87.0						(171.7)						1,329.4
Loss on impairment			88.2												—						—						2.5						90.7
Depreciation			281.3						151.4						26.9						—						(13.7)						445.9
General and administrative			—						—						13.9						—						133.0						146.9
Equity in earnings of ARO			—						—						—						—						(3.1)						(3.1)
Operating income (loss)			$	(252.7)					$	(108.5)					$	49.7					$	52.0					$	(215.4)					$	(474.9)
Property and equipment, net			$	10,187.5					$	5,022.0					$	652.5					$	—					$	(611.3)					$	15,250.7

Nine Months Ended September 30, 2018

			Floaters						Jackups						ARO						Other						Reconciling Items						Consolidated Total
Revenues			$	785.7					$	475.4					$	—					$	45.3					$	—					$	1,306.4
Operating expenses
Contract drilling (exclusive of depreciation)			564.4						390.1						—						42.1						—						996.6
Depreciation			233.9						112.3						—						—						10.3						356.5
General and administrative			—						—						—						—						79.1						79.1
Operating income (loss)			$	(12.6)					$	(27.0)					$	—					$	3.2					$	(89.4)					(125.8)
Property and equipment, net			$	9,501.7					$	3,190.2					$	—					$	—					$	39.7					12,731.6

Schedule Of Geographic Distribution Of Rigs By Segment

As of September 30, 2019, the geographic distribution of our and ARO's drilling rigs was as follows:

			Floaters						Jackups						Other (1)						Total Valaris						ARO
North & South America			11						8						—						19						—
Europe & Mediterranean			6						15						—						21						—
Middle East & Africa			5						13						9						27						7
Asia & Pacific Rim			3						7						—						10						—
Asia & Pacific Rim (under construction)			2						—						—						2						—
Held for Sale			1						1						—						2						—
Total			28						44						9						81						7

⁽¹⁾The rigs included in the "Other" segment represent the nine rigs leased to ARO. See Note 4 for additional information.

X

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8736-108599

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 25
-URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8813-108599

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=108376223&loc=d3e13816-109267

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8721-108599

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8906-108599

+ Details

Name:	us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_SegmentReportingInformationRevenueAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Schedule of segment reporting information by geographical segment [Table Text Block].

+ References

No definition available.

+ Details

Name:	val_ScheduleOfSegmentReportingInformationByGeographicalSegmentTableTextBlock
Namespace Prefix:	val_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration