XML 57 R56.htm IDEA: XBRL DOCUMENT
v3.20.1

Debt Debt (Narrative) (Details) $ / shares in Units, $ in Millions | 3 Months Ended |
--- | --- | ---
Mar. 31, 2020 USD ($) $ / shares | Mar. 31, 2019 USD ($) | Dec. 31, 2019
Debt Instrument [Line Items] |  |  |
Gain (Loss) on Extinguishment of Debt | $ 3.1 | $ 0.0 |
Letters of credit outstanding, amount | $ 117.9 |  |
7.38% Senior notes due 2025 |  |  |
Debt Instrument [Line Items] |  |  |
Debt Instrument, Interest Rate, Stated Percentage | 7.875% |  | 7.875%
Senior note, maturity year | 2040 |  |
4.875% Senior Notes Due 2022 Member [Member] |  |  |
Debt Instrument [Line Items] |  |  |
Debt Instrument, Interest Rate, Stated Percentage | 4.58% |  | 4.58%
4.75% Senior Notes Due 2024 Member [Member] |  |  |
Debt Instrument [Line Items] |  |  |
Debt Instrument, Interest Rate, Stated Percentage | 4.75% |  | 4.75%
7.38% Senior Notes Due 2025 [Member] |  |  |
Debt Instrument [Line Items] |  |  |
Debt Instrument, Interest Rate, Stated Percentage | 7.38% |  | 7.38%
5.40%SeniorNotesDue2042 [Member] |  |  |
Debt Instrument [Line Items] |  |  |
Debt Instrument, Interest Rate, Stated Percentage | 5.40% |  | 5.40%
5.85%SeniorNotesDue2044 [Member] |  |  |
Debt Instrument [Line Items] |  |  |
Debt Instrument, Interest Rate, Stated Percentage | 5.85% |  | 5.85%
Revolving Credit Facility [Member] |  |  |
Debt Instrument [Line Items] |  |  |
Line of Credit Facility, Maximum Borrowing Capacity | $ 1,300.0 |  |
Line of Credit Facility, Fair Value of Amount Outstanding | 332.1 |  |
Letters of credit outstanding, amount | 3.2 |  |
Senior Notes | 7.38% Senior notes due 2025 |  |  |
Debt Instrument [Line Items] |  |  |
Debt Instrument, Face Amount | $ 201.4 |  |
Debt Instrument, Interest Rate, Stated Percentage | 7.875% |  |
Senior Notes | 4.875% Senior Notes Due 2022 Member [Member] |  |  |
Debt Instrument [Line Items] |  |  |
Debt Instrument, Face Amount | $ 620.8 |  |
Debt Instrument, Interest Rate, Stated Percentage | 4.875% |  |
Senior Notes | 4.75% Senior Notes Due 2024 Member [Member] |  |  |
Debt Instrument [Line Items] |  |  |
Debt Instrument, Face Amount | $ 398.1 |  |
Debt Instrument, Interest Rate, Stated Percentage | 4.75% |  |
Senior Notes | 7.38% Senior Notes Due 2025 [Member] |  |  |
Debt Instrument [Line Items] |  |  |
Debt Instrument, Face Amount | $ 500.0 |  |
Debt Instrument, Interest Rate, Stated Percentage | 7.375% |  |
Senior Notes | 5.40%SeniorNotesDue2042 [Member] |  |  |
Debt Instrument [Line Items] |  |  |
Debt Instrument, Face Amount | $ 400.0 |  |
Debt Instrument, Interest Rate, Stated Percentage | 5.40% |  |
Senior Notes | 5.85%SeniorNotesDue2044 [Member] |  |  |
Debt Instrument [Line Items] |  |  |
Debt Instrument, Face Amount | $ 400.0 |  |
Debt Instrument, Interest Rate, Stated Percentage | 5.85% |  |
Senior Notes | Rowan Senior Notes [Member] |  |  |
Debt Instrument [Line Items] |  |  |
Debt Instrument, Face Amount | $ 2,100.0 |  |
Convertible Debt [Member] | Three Percent Exchangeable Senior Notes Due Two Thousand Twenty Four [Member] |  |  |
Debt Instrument [Line Items] |  |  |
Debt Instrument, Face Amount | $ 849.5 |  |
Debt Instrument, Convertible, Conversion Ratio | 17.8336 |  |
Debt Instrument, Convertible, Conversion Price | $ / shares | $ 56.08 |  |

X
- Definition The price per share of the conversion feature embedded in the debt instrument. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 5 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=109500613&loc=SL6031898-161870 + Details
Name: | us-gaap_DebtInstrumentConvertibleConversionPrice1
Namespace Prefix: | us-gaap_
Data Type: | num:perShareItemType
Balance Type: | na
Period Type: | instant

X
- Definition Ratio applied to the conversion of debt instrument into equity with equity shares divided by debt principal amount. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21521-112644 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 6 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21506-112644 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22(a)(5)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21475-112644 + Details
Name: | us-gaap_DebtInstrumentConvertibleConversionRatio1
Namespace Prefix: | us-gaap_
Data Type: | xbrli:pureItemType
Balance Type: | na
Period Type: | duration

X
- Definition Face (par) amount of debt instrument at time of issuance. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=114775744&loc=d3e28551-108399 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 55 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400 + Details
Name: | us-gaap_DebtInstrumentFaceAmount
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Contractual interest rate for funds borrowed, under the debt agreement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22(a)(1)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
Name: | us-gaap_DebtInstrumentInterestRateStatedPercentage
Namespace Prefix: | us-gaap_
Data Type: | num:percentItemType
Balance Type: | na
Period Type: | instant

X
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References No definition available. + Details
Name: | us-gaap_ExtinguishmentOfDebtLineItems
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Difference between the fair value of payments made and the carrying amount of debt which is extinguished prior to maturity. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 50 -Section 40 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=117329964&loc=d3e12355-112629 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 50 -Section 40 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=117329964&loc=d3e12317-112629 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 28 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=118932676&loc=d3e3602-108585 + Details
Name: | us-gaap_GainsLossesOnExtinguishmentOfDebt
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition The total amount of the contingent obligation under letters of credit outstanding as of the reporting date. + References No definition available. + Details
Name: | us-gaap_LettersOfCreditOutstandingAmount
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Fair value of the amount outstanding under the credit facility. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=118260190&loc=d3e13433-108611 + Details
Name: | us-gaap_LineOfCreditFacilityFairValueOfAmountOutstanding
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Maximum borrowing capacity under the credit facility without consideration of any current restrictions on the amount that could be borrowed or the amounts currently outstanding under the facility. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19(b),22(b)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
Name: | us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Senior Note Maturity Year + References No definition available. + Details
Name: | val_SeniorNoteMaturityYear
Namespace Prefix: | val_
Data Type: | xbrli:gYearItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | us-gaap_DebtInstrumentAxis=val_SevenPointEightSevenFivePercentSeniorNotesMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DebtInstrumentAxis=val_A4.875SeniorNotesDue2022MemberMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DebtInstrumentAxis=val_A4.75SeniorNotesDue2024MemberMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DebtInstrumentAxis=val_A7.38SeniorNotesDue2025Member
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DebtInstrumentAxis=val_A5.40SeniorNotesDue2042Member
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DebtInstrumentAxis=val_A5.85SeniorNotesDue2044Member
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_CreditFacilityAxis=us-gaap_RevolvingCreditFacilityMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_LongtermDebtTypeAxis=us-gaap_SeniorNotesMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DebtInstrumentAxis=val_RowanSeniorNotesMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_LongtermDebtTypeAxis=us-gaap_ConvertibleDebtMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DebtInstrumentAxis=val_ThreePercentExchangeableSeniorNotesDueTwoThousandTwentyFourMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |