XML 79 R57.htm IDEA: XBRL DOCUMENT v3.20.2

Debt Debt (Narrative) (Details) - USD ($)			3 Months Ended		6 Months Ended
	Jul. 15, 2020	Jun. 29, 2020	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Debt Instrument [Line Items]
Gain (Loss) on Extinguishment of Debt					$ (3,100,000)
Debt Instrument, Capitalization Ratio		60.00%			57.70%
Asset Impairment Charges			$ 838,000,000.0	$ 2,500,000	$ 3,646,200,000	$ 2,500,000
Letters of credit outstanding, amount			$ 112,900,000		$ 112,900,000
7.38% Senior notes due 2025
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage			7.875%		7.875%		7.875%
4.875% Senior Notes Due 2022 Member [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage			4.58%		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%		4.75%
7.38% Senior Notes Due 2025 [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage			7.38%		7.38%		7.38%
5.40%SeniorNotesDue2042 [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage			5.40%		5.40%		5.40%
5.85%SeniorNotesDue2044 [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage			5.85%		5.85%		5.85%
8.00% senior notes due 2024 [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage			8.00%		8.00%		8.00%
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Line Of Credit Facility, Available Cash			$ 200,000,000.0		$ 200,000,000.0
Line of Credit Facility, Maximum Borrowing Capacity			1,000,000,000.0		1,000,000,000.0
Line of Credit Facility, Fair Value of Amount Outstanding			588,800,000		588,800,000
Letters of credit outstanding, amount			37,800,000		37,800,000
Second Waiver [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Fair Value of Amount Outstanding			630,000,000.0		630,000,000.0
Senior Notes | 7.38% Senior notes due 2025
Debt Instrument [Line Items]
Debt Instrument, Face Amount			$ 201,400,000		$ 201,400,000
Debt Instrument, Interest Rate, Stated Percentage			7.875%		7.875%
Senior Notes | 4.875% Senior Notes Due 2022 Member [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount			$ 620,800,000		$ 620,800,000
Debt Instrument, Interest Rate, Stated Percentage			4.875%		4.875%
Senior Notes | 4.75% Senior Notes Due 2024 Member [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount			$ 398,100,000		$ 398,100,000
Debt Instrument, Interest Rate, Stated Percentage			4.75%		4.75%
Senior Notes | 7.38% Senior Notes Due 2025 [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount			$ 500,000,000.0		$ 500,000,000.0
Debt Instrument, Interest Rate, Stated Percentage			7.375%		7.375%
Senior Notes | 5.40%SeniorNotesDue2042 [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount			$ 400,000,000.0		$ 400,000,000.0
Debt Instrument, Interest Rate, Stated Percentage			5.40%		5.40%
Senior Notes | 5.85%SeniorNotesDue2044 [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount			$ 400,000,000.0		$ 400,000,000.0
Debt Instrument, Interest Rate, Stated Percentage			5.85%		5.85%
Senior Notes | 8.00% senior notes due 2024 [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage			8.00%		8.00%
Senior Notes | 3.00%exchangebalenotesdue2024 [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage			3.00%		3.00%
Senior Notes | Rowan Senior Notes
Debt Instrument [Line Items]
Debt Instrument, Face Amount			$ 2,100,000,000		$ 2,100,000,000
Senior Notes | 7.75%seniornotesdue2025 [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage			7.75%		7.75%
Convertible Debt [Member] | Three Percent Exchangeable Senior Notes Due Two Thousand Twenty Four [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount			$ 849,500,000		$ 849,500,000
Debt Instrument, Convertible, Conversion Ratio					17.8336
Debt Instrument, Convertible, Conversion Price			$ 56.08		$ 56.08
Subsequent Event [Member] | Senior Notes | 4.875% Senior Notes Due 2022 Member [Member]
Debt Instrument [Line Items]
Debt Instrument, Percent Outstanding	44.00%
Subsequent Event [Member] | Senior Notes | 4.75% Senior Notes Due 2024 Member [Member]
Debt Instrument [Line Items]
Debt Instrument, Percent Outstanding	74.20%
Subsequent Event [Member] | Senior Notes | 7.38% Senior Notes Due 2025 [Member]
Debt Instrument [Line Items]
Debt Instrument, Percent Outstanding	65.30%
Subsequent Event [Member] | Senior Notes | 5.40%SeniorNotesDue2042 [Member]
Debt Instrument [Line Items]
Debt Instrument, Percent Outstanding	68.90%
Subsequent Event [Member] | Senior Notes | 5.85%SeniorNotesDue2044 [Member]
Debt Instrument [Line Items]
Debt Instrument, Percent Outstanding	82.90%

X

- Definition

Amount of write-down of assets recognized in the income statement. Includes, but is not limited to, losses from tangible assets, intangible assets and goodwill.

+ References

Reference 1: 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=121586364&loc=d3e3602-108585

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 45
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=109226348&loc=d3e2420-110228

+ Details

Name:	us-gaap_AssetImpairmentCharges
Namespace Prefix:	us-gaap_
Data Type:	xbrli:monetaryItemType
Balance Type:	debit
Period Type:	duration

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=120520924&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=120391452&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=119993939&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=120391452&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=121586364&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=121572278&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=120391452&loc=d3e13212-122682

+ Details

Name:	us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity
Namespace Prefix:	us-gaap_
Data Type:	xbrli:monetaryItemType
Balance Type:	credit
Period Type:	instant

X

- Definition

Debt Instrument, Capitalization Ratio

+ References

No definition available.

+ Details

Name:	val_DebtInstrumentCapitalizationRatio
Namespace Prefix:	val_
Data Type:	num:percentItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Debt Instrument, Percent Outstanding

+ References

No definition available.

+ Details

Name:	val_DebtInstrumentPercentOutstanding
Namespace Prefix:	val_
Data Type:	num:percentItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Line Of Credit Facility, Available Cash

+ References

No definition available.

+ Details

Name:	val_LineOfCreditFacilityAvailableCash
Namespace Prefix:	val_
Data Type:	xbrli:monetaryItemType
Balance Type:	credit
Period Type:	instant

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_DebtInstrumentAxis=val_A8.00seniornotesdue2024Member
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_CreditFacilityAxis=val_SecondWaiverMember
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_A3.00exchangebalenotesdue2024Member
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_DebtInstrumentAxis=val_A7.75seniornotesdue2025Member
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:

X

- Details

Name:	us-gaap_SubsequentEventTypeAxis=us-gaap_SubsequentEventMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type: