XML 142 R49.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Rowan Transaction Narrative (Details)
$ / shares in Units, € in Millions, shares in Millions, $ in Millions
3 Months Ended 12 Months Ended
Apr. 11, 2019
EUR (€)
rigs
shares
Apr. 11, 2019
USD ($)
rigs
$ / shares
shares
Oct. 06, 2017
Dec. 31, 2019
USD ($)
$ / shares
Sep. 30, 2019
USD ($)
Jun. 30, 2019
USD ($)
Mar. 31, 2019
USD ($)
Dec. 31, 2018
USD ($)
$ / shares
Sep. 30, 2018
USD ($)
Jun. 30, 2018
USD ($)
Mar. 31, 2018
USD ($)
Dec. 31, 2021
USD ($)
Dec. 31, 2020
USD ($)
Dec. 31, 2019
EUR (€)
drillship
jackup
rigs
Dec. 31, 2019
USD ($)
drillship
jackup
rigs
$ / shares
Dec. 31, 2018
USD ($)
$ / shares
Dec. 31, 2017
USD ($)
Apr. 10, 2019
$ / shares
Oct. 05, 2018
$ / shares
Business Acquisition [Line Items]                                      
Number of contract drilling rigs | rigs                           74 74        
Unrecognized Tax Benefits, Increase Resulting from Acquisition                             $ 149.9 $ 0.0      
Tax Assessment         $ 42.0                            
Deferred Tax Liabilities, Net       $ 39.9       $ 34.8             39.9 34.8      
OPERATING REVENUES       512.1 551.3 $ 583.9 $ 405.9 399.0 $ 430.9 $ 458.5 $ 417.0       2,053.2 1,705.4 $ 1,843.0    
NET LOSS ATTRIBUTABLE TO VALARIS       $ (216.0) $ (197.1) $ 405.5 $ (190.4) $ (203.6) $ (145.0) $ (151.0) $ (140.1)       $ (198.0) $ (639.7) $ (303.7)    
Class A Ordinary Shares, U.S. [Member]                                      
Business Acquisition [Line Items]                                      
Common Stock, Par or Stated Value Per Share | $ / shares       $ 0.40       $ 0.40             $ 0.40 $ 0.40      
Rowan Companies [Member]                                      
Business Acquisition [Line Items]                                      
Common stock, value (in usd per share) | $ / shares   $ 43.67                                  
Consideration transferred   $ 1,400.0                         $ 1,402.8        
Fair Value of Employee Equity awards   2.6                                  
Merger related costs                             18.0        
Materials And Supplies       $ 83.0                     83.0        
Property and equipment       2,964.0                     2,964.0        
Intangible assets, net   16.2   11.9                     11.9        
Intangible Liabilities   2.1   1.4                     1.4        
Asset amortization                             $ 3.6        
Finite-Lived Intangible Assets, Remaining Amortization Period                           2 years 2 years        
Deferred Tax Assets, Net       99.0                     $ 99.0        
Unrecognized Tax Benefits, Increase Resulting from Acquisition   50.4                                  
OPERATING REVENUES                             448.0        
NET LOSS ATTRIBUTABLE TO VALARIS                             122.7        
Rowan Companies [Member] | Luxembourg Inland Revenue [Member]                                      
Business Acquisition [Line Items]                                      
Unrecognized tax benefit, maximum exposure                           € 142.0 159.0        
Deferred Other Tax Expense (Benefit) € 46.0 $ 52.6                       47.0 52.0        
Tax Assessment | €                           € 93.0          
Deferred Tax Liabilities, Net       $ 104.6                     $ 104.6        
Rowan Companies [Member] | Forecast [Member]                                      
Business Acquisition [Line Items]                                      
Capitalized Contract Cost, Amortization                       $ 5.4 $ 5.1            
Rowan Companies [Member] | Class A Ordinary Shares, U.S. [Member]                                      
Business Acquisition [Line Items]                                      
Common stock, value (in usd per share) | $ / shares   $ 2.75                                  
Shares Issued, Price Per Share | $ / shares   $ 15.88                                  
Number of ordinary shares | shares 88.3 88.3                                  
Common Stock, Par or Stated Value Per Share | $ / shares   $ 0.40                               $ 0.10  
Share Price | $ / shares                                     $ 33.92
Jackup Rigs [Member]                                      
Business Acquisition [Line Items]                                      
Number of contract drilling rigs | rigs                           50 50        
Jackup Rigs [Member] | Rowan Companies [Member]                                      
Business Acquisition [Line Items]                                      
Number of contract drilling rigs 19 19                       19 19        
Drilling rigs and equipment [Member] | Rowan Companies [Member]                                      
Business Acquisition [Line Items]                                      
Number of contract drilling rigs | drillship                           4 4        
Minimum | Drilling rigs and equipment [Member]                                      
Business Acquisition [Line Items]                                      
Property, Plant and Equipment, Useful Life                           4 years 4 years        
Minimum | Drilling rigs and equipment [Member] | Rowan Companies [Member]                                      
Business Acquisition [Line Items]                                      
Property, Plant and Equipment, Useful Life     30 years                     16 years 16 years        
Maximum | Drilling rigs and equipment [Member]                                      
Business Acquisition [Line Items]                                      
Property, Plant and Equipment, Useful Life                           35 years 35 years        
Maximum | Drilling rigs and equipment [Member] | Rowan Companies [Member]                                      
Business Acquisition [Line Items]                                      
Property, Plant and Equipment, Useful Life     35 years                     35 years 35 years