XML 67 R51.htm IDEA: XBRL DOCUMENT
v3.20.2

Equity Method Investment In ARO Narrative (Details) $ in Millions | 3 Months Ended | 6 Months Ended | 9 Months Ended |
--- | --- | --- | --- | ---
Sep. 30, 2020 USD ($) jackup | Sep. 30, 2019 USD ($) | Sep. 30, 2019 USD ($) | Sep. 30, 2020 USD ($) jackup | Dec. 31, 2019 USD ($)
Schedule of Equity Method Investments [Line Items] |  |  |  |  |
Number of Rigs Owned by ARO | jackup | 7 |  |  | 7 |
LONG-TERM NOTES RECEIVABLE FROM ARO | $ 442.7 |  |  | $ 442.7 | $ 452.9
Contracts Terms On Purchased Rigs |  |  |  | 15 years |
Contracts On Purchased Rigs, Terms For Renewal And Repricing |  |  |  | 3 years |
Number of jackups leased by ARO | jackup | 9 |  |  | 9 |
Number of Newbuild Jackup Rigs | jackup | 20 |  |  | 20 |
Order Period |  |  |  | 10 years |
Maximum Contingent Contributions To Joint Venture | $ 1,250.0 |  |  | $ 1,250.0 |
Minimum Renewal Contract Terms For NewBuild Rigs |  |  |  | 8 years |
Equity Method Investment Summarized Financial Information Accounts Receivable | 13.7 |  |  | $ 13.7 | 21.8
Due from Joint Ventures |  |  |  |  | 14.2
Equity Method Investment Summarized Financial Information Accounts Payable |  |  |  |  | $ 0.7
Equity Method Investment Summarized Financial Information Interest Income | 4.5 | $ 5.8 | $ 10.9 | 13.7 |
Equity Method Investment Summarized Financial Information Interest Receivable | $ 13.7 |  |  | $ 13.7 |
ARO |  |  |  |  |
Schedule of Equity Method Investments [Line Items] |  |  |  |  |
Equity Method Investment, Ownership Percentage | 50.00% |  |  | 50.00% |
ARO |  |  |  |  |
Schedule of Equity Method Investments [Line Items] |  |  |  |  |
Lease revenue | $ 21.0 | 19.9 | 37.0 | $ 62.4 |
Secondment Revenue, Related Party | $ 0.8 | $ 17.9 | $ 33.5 | $ 20.8 |

X
- Definition For an unclassified balance sheet, amounts due from an entity in which the reporting entity shares joint control with another party or group. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(k)(1)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39599-107864 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03.3) -URI http://asc.fasb.org/extlink&oid=120400017&loc=d3e572229-122910 + Details
Name: | us-gaap_DueFromJointVentures
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Amounts due from an entity in which the reporting entity shares joint control with another party or group, due after 1 year (or 1 business cycle). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(k)(1)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 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(11)) -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 850 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39599-107864 + Details
Name: | us-gaap_DueFromJointVenturesNoncurrent
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition The percentage of ownership of common stock or equity participation in the investee accounted for under the equity method of accounting. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 50 -Paragraph 3 -Subparagraph (a)(1) -URI http://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571 + Details
Name: | us-gaap_EquityMethodInvestmentOwnershipPercentage
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_ScheduleOfEquityMethodInvestmentsLineItems
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Contracts On Purchased Rigs, Terms For Renewal And Repricing + References No definition available. + Details
Name: | val_ContractsOnPurchasedRigsTermsForRenewalAndRepricing
Namespace Prefix: | val_
Data Type: | xbrli:durationItemType
Balance Type: | na
Period Type: | duration

X
- Definition Contracts Terms On Purchased Rigs + References No definition available. + Details
Name: | val_ContractsTermsOnPurchasedRigs
Namespace Prefix: | val_
Data Type: | xbrli:durationItemType
Balance Type: | na
Period Type: | duration

X
- Definition Equity Method Investment Summarized Financial Information Accounts Payable + References No definition available. + Details
Name: | val_EquityMethodInvestmentSummarizedFinancialInformationAccountsPayable
Namespace Prefix: | val_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Equity Method Investment Summarized Financial Information Accounts Receivable + References No definition available. + Details
Name: | val_EquityMethodInvestmentSummarizedFinancialInformationAccountsReceivable
Namespace Prefix: | val_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Equity Method Investment Summarized Financial Information Interest Income + References No definition available. + Details
Name: | val_EquityMethodInvestmentSummarizedFinancialInformationInterestIncome
Namespace Prefix: | val_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Equity Method Investment Summarized Financial Information Interest Receivable + References No definition available. + Details
Name: | val_EquityMethodInvestmentSummarizedFinancialInformationInterestReceivable
Namespace Prefix: | val_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Lease Revenue From Related Party + References No definition available. + Details
Name: | val_LeaseRevenueFromRelatedParty
Namespace Prefix: | val_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Maximum Contingent Contributions To Joint Venture + References No definition available. + Details
Name: | val_MaximumContingentContributionsToJointVenture
Namespace Prefix: | val_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Minimum Renewal Contract Terms For NewBuild Rigs + References No definition available. + Details
Name: | val_MinimumRenewalContractTermsForNewBuildRigs
Namespace Prefix: | val_
Data Type: | xbrli:durationItemType
Balance Type: | na
Period Type: | duration

X
- Definition Number of Newbuild Jackup Rigs + References No definition available. + Details
Name: | val_NumberofNewbuildJackupRigs
Namespace Prefix: | val_
Data Type: | xbrli:integerItemType
Balance Type: | na
Period Type: | instant

X
- Definition Number of Rigs Owned by ARO + References No definition available. + Details
Name: | val_NumberofRigsOwnedbyARO
Namespace Prefix: | val_
Data Type: | xbrli:integerItemType
Balance Type: | na
Period Type: | instant

X
- Definition Number of jackups leased by ARO + References No definition available. + Details
Name: | val_NumberofjackupsleasedbyARO
Namespace Prefix: | val_
Data Type: | xbrli:integerItemType
Balance Type: | na
Period Type: | instant

X
- Definition Order Period + References No definition available. + Details
Name: | val_OrderPeriod
Namespace Prefix: | val_
Data Type: | xbrli:durationItemType
Balance Type: | na
Period Type: | duration

X
- Definition Secondment Revenue, Related Party + References No definition available. + Details
Name: | val_SecondmentRevenueRelatedParty
Namespace Prefix: | val_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Details
Name: | srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis=val_AROMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=val_AROMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |