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Guarantee Of Registered Securities (Tables) | 9 Months Ended
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Sep. 30, 2020
Guarantees [Abstract] |
Condensed Consolidating Statements Of Operations | CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS Three Months Ended September 30, 2020 (In millions) (Unaudited)
| Valaris plc |  | ENSCO International Incorporated |  | Pride International LLC |  | Other Non-Guarantor Subsidiaries of Valaris |  | Consolidating Adjustments |  | Total
OPERATING REVENUES | $ | 12.4 |  |  | $ | 85.3 |  |  | $ | — |  |  | $ | 372.4 |  |  | $ | (184.8) |  |  | $ | 285.3 |
OPERATING EXPENSES |  |  |  |  |  |  |  |  |  |  |
Contract drilling (exclusive of depreciation) | 72.4 |  |  | 84.7 |  |  | — |  |  | 334.9 |  |  | (184.8) |  |  | 307.2 |
Depreciation | — |  |  | 1.8 |  |  | — |  |  | 120.6 |  |  | — |  |  | 122.4 |
General and administrative | 26.7 |  |  | 8.8 |  |  | — |  |  | 36.6 |  |  | — |  |  | 72.1 |
Total operating expenses | 99.1 |  |  | 95.3 |  |  | — |  |  | 492.1 |  |  | (184.8) |  |  | 501.7 |
OTHER OPERATING INCOME | — |  |  | — |  |  | — |  |  | 118.1 |  |  | — |  |  | 118.1 |
EQUITY IN EARNINGS OF ARO | — |  |  | — |  |  | — |  |  | 3.9 |  |  | — |  |  | 3.9 |
OPERATING INCOME (LOSS) | (86.7) |  |  | (10.0) |  |  | — |  |  | 2.3 |  |  | — |  |  | (94.4) |
OTHER INCOME (EXPENSE), NET | (499.1) |  |  | (0.8) |  |  | 64.8 |  |  | (123.1) |  |  | 2.5 |  |  | (555.7) |
INCOME (LOSS) BEFORE INCOME TAXES | (585.8) |  |  | (10.8) |  |  | 64.8 |  |  | (120.8) |  |  | 2.5 |  |  | (650.1) |
PROVISION FOR INCOME TAXES | — |  |  | 7.3 |  |  | — |  |  | 14.6 |  |  | — |  |  | 21.9 |
EQUITY EARNINGS (LOSSES) IN AFFILIATES, NET OF TAX | (85.1) |  |  | 43.2 |  |  | 3.0 |  |  | — |  |  | 38.9 |  |  | — |
NET INCOME (LOSS) | (670.9) |  |  | 25.1 |  |  | 67.8 |  |  | (135.4) |  |  | 41.4 |  |  | (672.0) |
NET LOSS ATTRIBUTABLE TO NONCONTROLLING INTERESTS | — |  |  | — |  |  | — |  |  | 1.1 |  |  | — |  |  | 1.1 |
NET INCOME (LOSS) ATTRIBUTABLE TO VALARIS | $ | (670.9) |  |  | $ | 25.1 |  |  | $ | 67.8 |  |  | $ | (134.3) |  |  | $ | 41.4 |  |  | $ | (670.9) |
VALARIS PLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS Three Months Ended September 30, 2019 (In millions) (Unaudited)
| Valaris plc |  | ENSCO International Incorporated |  | Pride International LLC |  | Other Non-Guarantor Subsidiaries of Valaris |  | Consolidating Adjustments |  | Total
OPERATING REVENUES | $ | 15.7 |  |  | $ | 53.0 |  |  | $ | — |  |  | $ | 588.8 |  |  | $ | (106.2) |  |  | $ | 551.3 |
OPERATING EXPENSES |  |  |  |  |  |  |  |  |  |  |
Contract drilling (exclusive of depreciation) | 19.3 |  |  | 45.3 |  |  | — |  |  | 538.1 |  |  | (106.2) |  |  | 496.5 |
Loss on impairment | — |  |  | — |  |  | — |  |  | 88.2 |  |  | — |  |  | 88.2 |
Depreciation | — |  |  | 7.7 |  |  | — |  |  | 155.3 |  |  | — |  |  | 163.0 |
General and administrative | 9.7 |  |  | .1 |  |  | — |  |  | 26.3 |  |  | — |  |  | 36.1 |
Total operating expenses | 29.0 |  |  | 53.1 |  |  | — |  |  | 807.9 |  |  | (106.2) |  |  | 783.8 |
EQUITY IN EARNINGS OF ARO | — |  |  | — |  |  | — |  |  | (3.7) |  |  | — |  |  | (3.7) |
OPERATING LOSS | (13.3) |  |  | (.1) |  |  | — |  |  | (222.8) |  |  | — |  |  | (236.2) |
OTHER INCOME (EXPENSE), NET | 94.7 |  |  | (5.6) |  |  | (20.2) |  |  | (33.0) |  |  | 4.3 |  |  | 40.2 |
INCOME (LOSS) BEFORE INCOME TAXES | 81.4 |  |  | (5.7) |  |  | (20.2) |  |  | (255.8) |  |  | 4.3 |  |  | (196.0) |
PROVISION (BENEFIT) FOR INCOME TAXES | — |  |  | (18.4) |  |  | — |  |  | 19.9 |  |  | — |  |  | 1.5 |
EQUITY LOSSES IN AFFILIATES, NET OF TAX | (278.5) |  |  | (40.2) |  |  | (68.0) |  |  | — |  |  | 386.7 |  |  | — |
NET LOSS | (197.1) |  |  | (27.5) |  |  | (88.2) |  |  | (275.7) |  |  | 391.0 |  |  | (197.5) |
NET LOSS ATTRIBUTABLE TO NONCONTROLLING INTERESTS | — |  |  | — |  |  | — |  |  | .4 |  |  | — |  |  | .4 |
NET LOSS ATTRIBUTABLE TO VALARIS | $ | (197.1) |  |  | $ | (27.5) |  |  | $ | (88.2) |  |  | $ | (275.3) |  |  | $ | 391.0 |  |  | $ | (197.1) |
VALARIS PLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS Nine Months Ended September 30, 2020 (In millions) (Unaudited)
| Valaris plc |  | ENSCO International Incorporated |  | Pride International LLC |  | Other Non-Guarantor Subsidiaries of Valaris |  | Consolidating Adjustments |  | Total
OPERATING REVENUES | $ | 47.3 |  |  | $ | 182.0 |  |  | $ | — |  |  | $ | 1,311.4 |  |  | $ | (410.0) |  |  | $ | 1,130.7 |
OPERATING EXPENSES |  |  |  |  |  |  |  |  |  |  |
Contract drilling (exclusive of depreciation) | 128.6 |  |  | 180.4 |  |  | — |  |  | 1,254.9 |  |  | (410.0) |  |  | 1,153.9 |
Loss on impairment | — |  |  | — |  |  | — |  |  | 3,646.2 |  |  | — |  |  | 3,646.2 |
Depreciation | — |  |  | 11.1 |  |  | — |  |  | 407.3 |  |  | — |  |  | 418.4 |
General and administrative | 60.4 |  |  | 33.6 |  |  | — |  |  | 94.1 |  |  | — |  |  | 188.1 |
Total operating expenses | 189.0 |  |  | 225.1 |  |  | — |  |  | 5,402.5 |  |  | (410.0) |  |  | 5,406.6 |
OTHER OPERATING INCOME | — |  |  | — |  |  | — |  |  | 118.1 |  |  |  |  | 118.1 |
EQUITY IN LOSSES OF ARO | — |  |  | — |  |  | — |  |  | (7.6) |  |  | — |  |  | (7.6) |
OPERATING LOSS | (141.7) |  |  | (43.1) |  |  | — |  |  | (3,980.6) |  |  | — |  |  | (4,165.4) |
OTHER INCOME (EXPENSE), NET | (283.6) |  |  | (1.0) |  |  | 27.0 |  |  | (522.8) |  |  | 11.4 |  |  | (769.0) |
INCOME (LOSS) BEFORE INCOME TAXES | (425.3) |  |  | (44.1) |  |  | 27.0 |  |  | (4,503.4) |  |  | 11.4 |  |  | (4,934.4) |
BENEFIT FOR INCOME TAXES | — |  |  | (92.7) |  |  | — |  |  | (53.2) |  |  | — |  |  | (145.9) |
EQUITY EARNINGS (LOSSES) IN AFFILIATES, NET OF TAX | (4,359.3) |  |  | (91.4) |  |  | 17.9 |  |  | — |  |  | 4,432.8 |  |  | — |
NET INCOME (LOSS) | (4,784.6) |  |  | (42.8) |  |  | 44.9 |  |  | (4,450.2) |  |  | 4,444.2 |  |  | (4,788.5) |
NET LOSS ATTRIBUTABLE TO NONCONTROLLING INTERESTS | — |  |  | — |  |  | — |  |  | 3.9 |  |  | — |  |  | 3.9 |
NET INCOME (LOSS) ATTRIBUTABLE TO VALARIS | $ | (4,784.6) |  |  | $ | (42.8) |  |  | $ | 44.9 |  |  | $ | (4,446.3) |  |  | $ | 4,444.2 |  |  | $ | (4,784.6) |
VALARIS PLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS Nine Months Ended September 30, 2019 (In millions) (Unaudited)
| Valaris plc |  | ENSCO International Incorporated |  | Pride International LLC |  | Other Non-Guarantor Subsidiaries of Valaris |  | Consolidating Adjustments |  | Total
OPERATING REVENUES | $ | 47.0 |  |  | $ | 128.6 |  |  | $ | — |  |  | $ | 1,627.1 |  |  | $ | (261.6) |  |  | $ | 1,541.1 |
OPERATING EXPENSES |  |  |  |  |  |  |  |  |  |  |
Contract drilling (exclusive of depreciation) | 49.3 |  |  | 112.8 |  |  | — |  |  | 1,428.9 |  |  | (261.6) |  |  | 1,329.4 |
Loss on impairment | — |  |  | — |  |  | — |  |  | 90.7 |  |  | — |  |  | 90.7 |
Depreciation | — |  |  | 15.4 |  |  | — |  |  | 430.5 |  |  | — |  |  | 445.9 |
General and administrative | 71.0 |  |  | .3 |  |  | — |  |  | 75.6 |  |  | — |  |  | 146.9 |
Total operating expenses | 120.3 |  |  | 128.5 |  |  | — |  |  | 2,025.7 |  |  | (261.6) |  |  | 2,012.9 |
EQUITY IN EARNINGS OF ARO | — |  |  | — |  |  | — |  |  | (3.1) |  |  | — |  |  | (3.1) |
OPERATING INCOME (LOSS) | (73.3) |  |  | .1 |  |  | — |  |  | (401.7) |  |  | — |  |  | (474.9) |
OTHER INCOME (EXPENSE), NET | 773.5 |  |  | (36.6) |  |  | (61.0) |  |  | (126.3) |  |  | 12.7 |  |  | 562.3 |
INCOME (LOSS) BEFORE INCOME TAXES | 700.2 |  |  | (36.5) |  |  | (61.0) |  |  | (528.0) |  |  | 12.7 |  |  | 87.4 |
PROVISION FOR INCOME TAXES | — |  |  | 10.6 |  |  | — |  |  | 55.0 |  |  | — |  |  | 65.6 |
EQUITY EARNINGS (LOSSES) IN AFFILIATES, NET OF TAX | (682.2) |  |  | 35.1 |  |  | (14.9) |  |  | — |  |  | 662.0 |  |  | — |
NET INCOME (LOSS) | 18.0 |  |  | (12.0) |  |  | (75.9) |  |  | (583.0) |  |  | 674.7 |  |  | 21.8 |
NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS | — |  |  | — |  |  | — |  |  | (3.8) |  |  | — |  |  | (3.8) |
NET INCOME (LOSS) ATTRIBUTABLE TO VALARIS | $ | 18.0 |  |  | $ | (12.0) |  |  | $ | (75.9) |  |  | $ | (586.8) |  |  | $ | 674.7 |  |  | $ | 18.0 |
Condensed Consolidating Statements Of Comprehensive Income | VALARIS PLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE LOSS Three Months Ended September 30, 2020 (In millions) (Unaudited)
| Valaris plc |  | ENSCO International Incorporated |  | Pride International LLC |  | Other Non-Guarantor Subsidiaries of Valaris |  | Consolidating Adjustments |  | Total
NET INCOME (LOSS) | $ | (670.9) |  |  | $ | 25.1 |  |  | $ | 67.8 |  |  | $ | (135.4) |  |  | $ | 41.4 |  |  | $ | (672) |
OTHER COMPREHENSIVE INCOME (LOSS), NET |  |  |  |  |  |  |  |  |  |  |
Net change in derivative fair value | — |  |  | 2.7 |  |  | — |  |  | — |  |  | — |  |  | 2.7 |
Reclassification of net gains on derivative instruments from other comprehensive income (loss) to net income (loss) | — |  |  | (.5) |  |  | — |  |  | — |  |  | — |  |  | (.5) |
Other |  |  |  |  |  |  | (.1) |  |  |  |  | (.1) |
NET OTHER COMPREHENSIVE INCOME (LOSS) | — |  |  | 2.2 |  |  | — |  |  | (.1) |  |  | — |  |  | 2.1 |
COMPREHENSIVE INCOME (LOSS) | (670.9) |  |  | 27.3 |  |  | 67.8 |  |  | (135.5) |  |  | 41.4 |  |  | (669.9) |
COMPREHENSIVE LOSS ATTRIBUTABLE TO NONCONTROLLING INTERESTS | — |  |  | — |  |  | — |  |  | 1.1 |  |  | — |  |  | 1.1 |
COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO VALARIS | $ | (670.9) |  |  | $ | 27.3 |  |  | $ | 67.8 |  |  | $ | (134.4) |  |  | $ | 41.4 |  |  | $ | (668.8) |
VALARIS PLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE LOSS Three Months Ended September 30, 2019 (In millions) (Unaudited)
| Valaris plc |  | ENSCO International Incorporated |  | Pride International LLC |  | Other Non-Guarantor Subsidiaries of Valaris |  | Consolidating Adjustments |  | Total
NET LOSS | $ | (197.1) |  |  | $ | (27.5) |  |  | $ | (88.2) |  |  | $ | (275.7) |  |  | $ | 391.0 |  |  | $ | (197.5) |
OTHER COMPREHENSIVE LOSS, NET |  |  |  |  |  |  |  |  |  |  |
Net change in derivative fair value | — |  |  | (5.7) |  |  | — |  |  | — |  |  | — |  |  | (5.7) |
Reclassification of net losses on derivative instruments from other comprehensive loss to net loss | — |  |  | 4.9 |  |  | — |  |  | — |  |  | — |  |  | 4.9 |
Other | — |  |  | — |  |  | — |  |  | (.2) |  |  | — |  |  | (.2) |
NET OTHER COMPREHENSIVE LOSS | — |  |  | (.8) |  |  | — |  |  | (.2) |  |  | — |  |  | (1.0) |
COMPREHENSIVE LOSS | (197.1) |  |  | (28.3) |  |  | (88.2) |  |  | (275.9) |  |  | 391.0 |  |  | (198.5) |
COMPREHENSIVE LOSS ATTRIBUTABLE TO NONCONTROLLING INTERESTS | — |  |  | — |  |  | — |  |  | .4 |  |  | — |  |  | .4 |
COMPREHENSIVE LOSS ATTRIBUTABLE TO VALARIS | $ | (197.1) |  |  | $ | (28.3) |  |  | $ | (88.2) |  |  | $ | (275.5) |  |  | $ | 391.0 |  |  | $ | (198.1) |
VALARIS PLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE LOSS Nine Months Ended September 30, 2020 (In millions) (Unaudited)
| Valaris plc |  | ENSCO International Incorporated |  | Pride International LLC |  | Other Non-Guarantor Subsidiaries of Valaris |  | Consolidating Adjustments |  | Total
NET INCOME (LOSS) | $ | (4,784.6) |  |  | $ | (42.8) |  |  | $ | 44.9 |  |  | $ | (4,450.2) |  |  | $ | 4,444.2 |  |  | $ | (4,788.5) |
OTHER COMPREHENSIVE LOSS, NET |  |  |  |  |  |  |  |  |  |  |
Net change in derivative fair value | — |  |  | (5.4) |  |  | — |  |  | — |  |  | — |  |  | (5.4) |
Reclassification of net gains on derivative instruments from other comprehensive loss to net income (loss) | — |  |  | (11.5) |  |  | — |  |  | — |  |  | — |  |  | (11.5) |
Other | — |  |  | — |  |  | — |  |  | (.5) |  |  | — |  |  | (.5) |
NET OTHER COMPREHENSIVE LOSS | — |  |  | (16.9) |  |  | — |  |  | (.5) |  |  | — |  |  | (17.4) |
COMPREHENSIVE INCOME (LOSS) | (4,784.6) |  |  | (59.7) |  |  | 44.9 |  |  | (4,450.7) |  |  | 4,444.2 |  |  | (4,805.9) |
COMPREHENSIVE LOSS ATTRIBUTABLE TO NONCONTROLLING INTERESTS | — |  |  | — |  |  | — |  |  | 3.9 |  |  | — |  |  | 3.9 |
COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO VALARIS | $ | (4,784.6) |  |  | $ | (59.7) |  |  | $ | 44.9 |  |  | $ | (4,446.8) |  |  | $ | 4,444.2 |  |  | $ | (4,802.0) |
VALARIS PLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME (LOSS) Nine Months Ended September 30, 2019 (In millions) (Unaudited)
| Valaris plc |  | ENSCO International Incorporated |  | Pride International LLC |  | Other Non-Guarantor Subsidiaries of Valaris |  | Consolidating Adjustments |  | Total
NET INCOME (LOSS) | $ | 18.0 |  |  | $ | (12.0) |  |  | $ | (75.9) |  |  | $ | (583.0) |  |  | $ | 674.7 |  |  | $ | 21.8 |
OTHER COMPREHENSIVE INCOME (LOSS), NET |  |  |  |  |  |  |  |  |  |  |
Net change in derivative fair value | — |  |  | (7.3) |  |  | — |  |  | — |  |  | — |  |  | (7.3) |
Reclassification of net losses on derivative instruments from other comprehensive income (loss) to net income (loss) | — |  |  | 8.3 |  |  | — |  |  | — |  |  | — |  |  | 8.3 |
Other | — |  |  | — |  |  | — |  |  | (.3) |  |  | — |  |  | (.3) |
NET OTHER COMPREHENSIVE INCOME (LOSS) | — |  |  | 1.0 |  |  | — |  |  | (.3) |  |  | — |  |  | .7 |
COMPREHENSIVE INCOME (LOSS) | 18.0 |  |  | (11.0) |  |  | (75.9) |  |  | (583.3) |  |  | 674.7 |  |  | 22.5 |
COMPREHENSIVE INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS | — |  |  | — |  |  | — |  |  | (3.8) |  |  | — |  |  | (3.8) |
COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO VALARIS | $ | 18.0 |  |  | $ | (11.0) |  |  | $ | (75.9) |  |  | $ | (587.1) |  |  | $ | 674.7 |  |  | $ | 18.7 |
Condensed Consolidating Balance Sheets |
| Valaris plc |  | ENSCO International Incorporated |  | Pride International LLC |  | Other Non-Guarantor Subsidiaries of Valaris |  | Consolidating Adjustments |  | Total
ASSETS |  |  |  |  |  |  |  |  |  |  |
CURRENT ASSETS |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 62.9 |  |  | $ | — |  |  | $ | — |  |  | $ | 117.5 |  |  | $ | — |  |  | $ | 180.4 |
Accounts receivable, net | — |  |  | 27.5 |  |  | — |  |  | 402.2 |  |  | — |  |  | 429.7 |
Accounts receivable from affiliates | 4,368.8 |  |  | 201.7 |  |  | 2.0 |  |  | 1,249.0 |  |  | (5,821.5) |  |  | — |
Other current assets | 5.5 |  |  | 42.7 |  |  | — |  |  | 406.5 |  |  | — |  |  | 454.7 |
Total current assets | 4,437.2 |  |  | 271.9 |  |  | 2.0 |  |  | 2,175.2 |  |  | (5,821.5) |  |  | 1,064.8 |
PROPERTY AND EQUIPMENT, AT COST | 1.3 |  |  | 116.2 |  |  | — |  |  | 13,098.0 |  |  | — |  |  | 13,215.5 |
Less accumulated depreciation | 1.3 |  |  | 95.2 |  |  | — |  |  | 2,036.6 |  |  | — |  |  | 2,133.1 |
Property and equipment, net | — |  |  | 21.0 |  |  | — |  |  | 11,061.4 |  |  | — |  |  | 11,082.4 |
LONG - TERM NOTES RECEIVABLE FROM ARO | — |  |  | — |  |  | — |  |  | 442.7 |  |  | — |  |  | 442.7 |
INVESTMENT IN ARO | — |  |  |  |  | — |  |  | 121.1 |  |  | — |  |  | 121.1 |
DUE FROM AFFILIATES | 1,592.7 |  |  | 216.8 |  |  | 38.9 |  |  | 4,760.9 |  |  | (6,609.3) |  |  | — |
INVESTMENTS IN AFFILIATES | 9,079.3 |  |  | 697.4 |  |  | 1,242.8 |  |  | — |  |  | (11,019.5) |  |  | — |
OTHER ASSETS | .9 |  |  | 14.5 |  |  | — |  |  | 184.8 |  |  | — |  |  | 200.2 |
| $ | 15,110.1 |  |  | $ | 1,221.6 |  |  | $ | 1,283.7 |  |  | $ | 18,746.1 |  |  | $ | (23,450.3) |  |  | $ | 12,911.2 |
LIABILITIES AND SHAREHOLDERS' EQUITY |  |  |  |  |  |  |  |
CURRENT LIABILITIES |  |  |  |  |  |  |  |  |  |  |
Accounts payable and accrued liabilities | $ | 5.7 |  |  | $ | 2.1 |  |  | $ | — |  |  | $ | 380.2 |  |  | $ | — |  |  | $ | 388.0 |
Accounts payable to affiliates | 1,183.3 |  |  | 171.4 |  |  | 809.1 |  |  | 3,657.7 |  |  | (5,821.5) |  |  | — |
Total current liabilities | 1,189.0 |  |  | 173.5 |  |  | 809.1 |  |  | 4,037.9 |  |  | (5,821.5) |  |  | 388.0 |
DUE TO AFFILIATES | 3,538.0 |  |  | 584.1 |  |  | 638.8 |  |  | 1,848.4 |  |  | (6,609.3) |  |  | — |
OTHER LIABILITIES |  |  | 241.5 |  |  |  |  | 455.4 |  |  | — |  |  | 696.9 |
Total liabilities not subject to compromise | 4,727.0 |  |  | 999.1 |  |  | 1,447.9 |  |  | 6,341.7 |  |  | (12,430.8) |  |  | 1,084.9 |
LIABILITIES SUBJECT TO COMPROMISE | 5,870.5 |  |  | 115.2 |  |  | 439.1 |  |  | 888.9 |  |  | — |  |  | 7,313.7 |
VALARIS SHAREHOLDERS' EQUITY (DEFICIT) | 4,512.6 |  |  | 107.3 |  |  | (603.3) |  |  | 11,521.6 |  |  | (11,019.5) |  |  | 4,518.7 |
NONCONTROLLING INTERESTS | — |  |  |  |  | — |  |  | (6.1) |  |  | — |  |  | (6.1) |
Total equity (deficit) | 4,512.6 |  |  | 107.3 |  |  | (603.3) |  |  | 11,515.5 |  |  | (11,019.5) |  |  | 4,512.6 |
| $ | 15,110.1 |  |  | $ | 1,221.6 |  |  | $ | 1,283.7 |  |  | $ | 18,746.1 |  |  | $ | (23,450.3) |  |  | $ | 12,911.2 |
VALARIS PLC AND SUBSIDIARIES CONDENSED CONSOLIDATING BALANCE SHEETS December 31, 2019 (In millions)
| Valaris plc |  | ENSCO International Incorporated |  | Pride International LLC |  | Other Non-Guarantor Subsidiaries of Valaris |  | Consolidating Adjustments |  | Total
ASSETS |  |  |  |  |  |  |  |  |  |  |
CURRENT ASSETS |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 21.5 |  |  | $ | — |  |  | $ | — |  |  | $ | 75.7 |  |  | $ | — |  |  | $ | 97.2 |
Accounts receivable, net | .2 |  |  | 19.7 |  |  | — |  |  | 500.8 |  |  | — |  |  | 520.7 |
Accounts receivable from affiliates | 4,031.4 |  |  | 386.0 |  |  | — |  |  | 897.2 |  |  | (5,314.6) |  |  | — |
Other current assets | .6 |  |  | 11.6 |  |  | — |  |  | 434.3 |  |  | — |  |  | 446.5 |
Total current assets | 4,053.7 |  |  | 417.3 |  |  | — |  |  | 1,908.0 |  |  | (5,314.6) |  |  | 1,064.4 |
PROPERTY AND EQUIPMENT, AT COST | 1.9 |  |  | 108.8 |  |  | — |  |  | 18,283.1 |  |  | — |  |  | 18,393.8 |
Less accumulated depreciation | 1.9 |  |  | 84.7 |  |  | — |  |  | 3,210.3 |  |  | — |  |  | 3,296.9 |
Property and equipment, net | — |  |  | 24.1 |  |  | — |  |  | 15,072.8 |  |  | — |  |  | 15,096.9 |
LONG-TERM NOTES RECEIVABLE FROM ARO | — |  |  | — |  |  | — |  |  | 452.9 |  |  | — |  |  | 452.9 |
INVESTMENT IN ARO | — |  |  | — |  |  | — |  |  | 128.7 |  |  | — |  |  | 128.7 |
DUE FROM AFFILIATES | 73.8 |  |  | — |  |  | 38.9 |  |  | 1,775.7 |  |  | (1,888.4) |  |  | — |
INVESTMENTS IN AFFILIATES | 9,778.5 |  |  | 788.8 |  |  | 1,224.9 |  |  | — |  |  | (11,792.2) |  |  | — |
OTHER ASSETS | 7.9 |  |  | 3.8 |  |  | — |  |  | 182.6 |  |  | (6.0) |  |  | 188.3 |
| $ | 13,913.9 |  |  | $ | 1,234.0 |  |  | $ | 1,263.8 |  |  | $ | 19,520.7 |  |  | $ | (19,001.2) |  |  | $ | 16,931.2 |
LIABILITIES AND SHAREHOLDERS' EQUITY |  |  |  |  |  |  |  |
CURRENT LIABILITIES |  |  |  |  |  |  |  |  |  |  |
Accounts payable and accrued liabilities | $ | 99.2 |  |  | $ | 29.3 |  |  | $ | 12.2 |  |  | $ | 565.2 |  |  | $ | — |  |  | $ | 705.9 |
Accounts payable to affiliates | 818.8 |  |  | 147.8 |  |  | 815.1 |  |  | 3,532.9 |  |  | (5,314.6) |  |  | — |
Current maturities of long - term debt | — |  |  | — |  |  | 124.8 |  |  | — |  |  | — |  |  | 124.8 |
Total current liabilities | 918.0 |  |  | 177.1 |  |  | 952.1 |  |  | 4,098.1 |  |  | (5,314.6) |  |  | 830.7 |
DUE TO AFFILIATES | 710.3 |  |  | 478.8 |  |  | 586.6 |  |  | 112.7 |  |  | (1,888.4) |  |  | — |
LONG-TERM DEBT | 2,990.6 |  |  | 111.7 |  |  | 373.3 |  |  | 2,447.9 |  |  | — |  |  | 5,923.5 |
OTHER LIABILITIES | (14.6) |  |  | 90.6 |  |  | — |  |  | 797.4 |  |  | (6.0) |  |  | 867.4 |
VALARIS SHAREHOLDERS' EQUITY (DEFICIT) | 9,309.6 |  |  | 375.8 |  |  | (648.2) |  |  | 12,065.9 |  |  | (11,792.2) |  |  | 9,310.9 |
NONCONTROLLING INTERESTS | — |  |  | — |  |  | — |  |  | (1.3) |  |  | — |  |  | (1.3) |
Total equity (deficit) | 9,309.6 |  |  | 375.8 |  |  | (648.2) |  |  | 12,064.6 |  |  | (11,792.2) |  |  | 9,309.6 |
| $ | 13,913.9 |  |  | $ | 1,234.0 |  |  | $ | 1,263.8 |  |  | $ | 19,520.7 |  |  | $ | (19,001.2) |  |  | $ | 16,931.2 |
Condensed Consolidating Statements Of Cash Flows |
VALARIS PLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS Nine Months Ended September 30, 2020 (In millions) (Unaudited)
| Valaris plc |  | ENSCO International Incorporated |  | Pride International LLC |  | Other Non-guarantor Subsidiaries of Valaris |  | Consolidating Adjustments |  | Total
OPERATING ACTIVITIES |  |  |  |  |  |  |  |  |  |  |
Net cash provided by (used in) operating activities | $ | (323.9) |  |  | $ | 133.3 |  |  | $ | (44.2) |  |  | $ | (161.6) |  |  | $ | — |  |  | $ | (396.4) |
INVESTING ACTIVITIES |  |  |  |  |  |  |  |  |  |  |
Additions to property and equipment | — |  |  | — |  |  | — |  |  | (82.9) |  |  | — |  |  | (82.9) |
Proceeds from disposition of assets | — |  |  | — |  |  | — |  |  | 44.2 |  |  | — |  |  | 44.2 |
Net cash used in investing activities | — |  |  | — |  |  | — |  |  | (38.7) |  |  | — |  |  | (38.7) |
FINANCING ACTIVITIES |  |  |  |  |  |  |  |  |  |  |
Debtor in possession financing fees and payments on Backstop Agreement | (43.8) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (43.8) |
Borrowings on credit facility | 343.9 |  |  | — |  |  | — |  |  | 252.1 |  |  | — |  |  | 596.0 |
Advances from (to) affiliates | 89.9 |  |  | (133.3) |  |  | 44.2 |  |  | (0.8) |  |  | — |  |  | — |
Repayments of credit facility borrowings | (15.0) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (15.0) |
Reduction of long -term borrowings | (9.7) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (9.7) |
Other | — |  |  | — |  |  | — |  |  | (9.1) |  |  | — |  |  | (9.1) |
Net cash provided by (used in) financing activities | 365.3 |  |  | (133.3) |  |  | 44.2 |  |  | 242.2 |  |  | — |  |  | 518.4 |
Effect of exchange rate changes on cash and cash equivalents | — |  |  | — |  |  | — |  |  | (.1) |  |  |  |  | (.1) |
NET INCREASE IN CASH AND CASH EQUIVALENTS | 41.4 |  |  | — |  |  | — |  |  | 41.8 |  |  | — |  |  | 83.2 |
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD | 21.5 |  |  | — |  |  | — |  |  | 75.7 |  |  | — |  |  | 97.2 |
CASH AND CASH EQUIVALENTS, END OF PERIOD | $ | 62.9 |  |  | $ | — |  |  | $ | — |  |  | $ | 117.5 |  |  | $ | — |  |  | $ | 180.4 |
VALARIS PLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS Nine Months Ended September 30, 2019 (In millions) (Unaudited)
| Valaris plc |  | ENSCO International Incorporated |  | Pride International LLC |  | Other Non-guarantor Subsidiaries of Valaris |  | Consolidating Adjustments |  | Total
OPERATING ACTIVITIES |  |  |  |  |  |  |  |  |  |  |
Net cash used in operating activities | $ | (125.2) |  | $ | (82.3) |  | $ | (98.0) |  | $ | (122.0) |  | $ | — |  | $ | (427.5)
INVESTING ACTIVITIES |  |  |  |  |  |  |  |  |  |  |
Rowan cash acquired | — |  |  | — |  |  | — |  |  | 931.9 |  |  | — |  |  | 931.9 |
Maturities of short-term investments | 474.0 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 474.0 |
Purchases of short-term investments | (145.0) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (145.0) |
Additions to property and equipment | — |  |  | — |  |  | — |  |  | (174.2) |  |  | — |  |  | (174.2) |
Net proceeds from disposition of assets | — |  |  | — |  |  | — |  |  | 4.9 |  |  | — |  |  | 4.9 |
Net cash provided by investing activities | 329.0 |  |  | — |  |  | — |  |  | 762.6 |  |  | — |  |  | 1,091.6 |
FINANCING ACTIVITIES |  |  |  |  |  |  |  |  |  |  |
Reduction of long-term borrowings | (536.6) |  |  | (30.4) |  |  | — |  |  | (361.1) |  |  | — |  |  | (928.1) |
Borrowings on credit facility | 175.0 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 175.0 |
Repayments of credit facility borrowings | (34.4) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (34.4) |
Debt solicitation fees | — |  |  | — |  |  | — |  |  | (9.4) |  |  | — |  |  | (9.4) |
Cash dividends paid | (4.5) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (4.5) |
Advances from (to) affiliates | 74.7 |  |  | 112.7 |  |  | 95.3 |  |  | (282.7) |  |  | — |  |  | — |
Other | (5.3) |  |  | — |  |  | — |  |  | (2.4) |  |  | — |  |  | (7.7) |
Net cash provided by (used in) financing activities | (331.1) |  |  | 82.3 |  |  | 95.3 |  |  | (655.6) |  |  | — |  |  | (809.1) |
Effect of exchange rate changes on cash and cash equivalents | — |  |  | — |  |  | — |  |  | (.6) |  |  | — |  |  | (.6) |
DECREASE IN CASH AND CASH EQUIVALENTS | (127.3) |  |  | — |  |  | (2.7) |  |  | (15.6) |  |  | — |  |  | (145.6) |
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD | 199.8 |  |  | — |  |  | 2.7 |  |  | 72.6 |  |  | — |  |  | 275.1 |
CASH AND CASH EQUIVALENTS, END OF PERIOD | $ | 72.5 |  |  | $ | — |  |  | $ | — |  |  | $ | 57.0 |  |  | $ | — |  |  | $ | 129.5 |

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