XML 56 R40.htm IDEA: XBRL DOCUMENT v3.20.2

Chapter 11 Proceedings and Ability to Continue as a Going Concern - Schedule of Liabilities Subject to Compromise (Details) - USD ($) $ in Millions	Sep. 30, 2020	Aug. 18, 2020	Sep. 30, 2019
Debt Instrument [Line Items]
Accrued Interest on Senior Notes, Exchangeable Senior Notes, Debentures and Revolving Credit Facility	$ 203.5
Rig holding costs(1)	13.9
Total liabilities subject to compromise	7,313.7		$ 0.0
Senior Notes | 6.875% Senior notes due 2020
Debt Instrument [Line Items]
Long-term debt	122.9
Interest rate on borrowings outstanding		6.875%
Interest rate on borrowings outstanding		6.875%
Senior Notes | 4.70% Senior notes due 2021
Debt Instrument [Line Items]
Long-term debt	100.7
Interest rate on borrowings outstanding		4.70%
Interest rate on borrowings outstanding		4.70%
Senior Notes | 4.875% Senior notes due 2022
Debt Instrument [Line Items]
Long-term debt	620.8
Interest rate on borrowings outstanding		4.875%
Interest rate on borrowings outstanding		4.875%
Senior Notes | 3.00% Exchangeable senior notes due 2024
Debt Instrument [Line Items]
Long-term debt	849.5
Interest rate on borrowings outstanding		3.00%
Interest rate on borrowings outstanding		3.00%
Senior Notes | 4.50% Senior notes due 2024
Debt Instrument [Line Items]
Long-term debt	303.4
Interest rate on borrowings outstanding		4.50%
Interest rate on borrowings outstanding		4.50%
Senior Notes | 4.75% Senior notes due 2024
Debt Instrument [Line Items]
Long-term debt	318.6
Interest rate on borrowings outstanding		4.75%
Interest rate on borrowings outstanding		4.75%
Senior Notes | 8.00% Senior notes due 2024
Debt Instrument [Line Items]
Long-term debt	292.3
Interest rate on borrowings outstanding		8.00%
Interest rate on borrowings outstanding		8.00%
Senior Notes | 5.20% Senior notes due 2025
Debt Instrument [Line Items]
Long-term debt	333.7
Interest rate on borrowings outstanding		5.20%
Interest rate on borrowings outstanding		5.20%
Senior Notes | 7.375% Senior notes due 2025
Debt Instrument [Line Items]
Long-term debt	360.8
Interest rate on borrowings outstanding		7.375%
Interest rate on borrowings outstanding		7.375%
Senior Notes | 7.75% Senior notes due 2026
Debt Instrument [Line Items]
Long-term debt	1,000.0
Interest rate on borrowings outstanding		7.75%
Interest rate on borrowings outstanding		7.75%
Senior Notes | 7.20% Debentures due 2027
Debt Instrument [Line Items]
Long-term debt	112.1
Interest rate on borrowings outstanding		7.20%
Interest rate on borrowings outstanding		7.20%
Senior Notes | 7.875% Senior notes due 2040
Debt Instrument [Line Items]
Long-term debt	300.0
Interest rate on borrowings outstanding		7.875%
Interest rate on borrowings outstanding		7.875%
Senior Notes | 5.40% Senior notes due 2042
Debt Instrument [Line Items]
Long-term debt	400.0
Interest rate on borrowings outstanding		5.40%
Interest rate on borrowings outstanding		5.40%
Senior Notes | 5.75% Senior notes due 2044
Debt Instrument [Line Items]
Long-term debt	1,000.5
Interest rate on borrowings outstanding		5.75%
Interest rate on borrowings outstanding		5.75%
Senior Notes | 5.85% Senior notes due 2044
Debt Instrument [Line Items]
Long-term debt	400.0
Interest rate on borrowings outstanding		5.85%
Interest rate on borrowings outstanding		5.85%
Line of Credit | Revolving Credit Facility
Debt Instrument [Line Items]
Long-term debt	$ 581.0

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_DebtInstrumentLineItems
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Interest rate on outstanding borrowings under debtor-in-possession financing arrangement.

+ References

No definition available.

+ Details

Name:	us-gaap_DebtorInPossessionFinancingInterestRateOnBorrowingsOutstanding
Namespace Prefix:	us-gaap_
Data Type:	num:percentItemType
Balance Type:	na
Period Type:	instant

X

- Definition

Total amount of liabilities subject to compromise.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 852
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120604989&loc=d3e56015-112765

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 852
-SubTopic 10
-Section 55
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=84165509&loc=d3e56145-112766

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 852
-SubTopic 10
-Section 45
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=116635682&loc=d3e55717-112764

+ Details

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

X

- Definition

Liabilities Subject To Compromise, Accrued Interest On Notes

+ References

No definition available.

+ Details

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

X

- Definition

Liabilities Subject To Compromise, Holding Cost, Inclusive Of Interest

+ References

No definition available.

+ Details

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

X

- Definition

Liabilities Subject To Compromise, Long-term Debt

+ References

No definition available.

+ Details

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

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_SixPointEightSevenFivePercentSeniorNotesDueTwoThousandTwentyMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

X

- Details

Name:	us-gaap_DebtInstrumentAxis=val_FourPointSevenZeroPercentSeniorNotesDueTwentyTwentyOneMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

X

- Details

Name:	us-gaap_DebtInstrumentAxis=val_FourPointEightSevenFivePercentSeniorNotesDueTwentyTwentyTwoMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

X

- Details

Name:	us-gaap_DebtInstrumentAxis=val_ThreePointZeroPercentExchangeableSeniorNotesDueTwentyTwentyFourMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

X

- Details

Name:	us-gaap_DebtInstrumentAxis=val_FourPointFivePercentSeniorNotesDueTwentyTwentyFourMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

X

- Details

Name:	us-gaap_DebtInstrumentAxis=val_FourPointSevenFivePercentSeniorNotesDueTwentyTwentyFourMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

X

- Details

Name:	us-gaap_DebtInstrumentAxis=val_EightPointZeroPercentSeniorNotesDueTwentyTwentyFourMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

X

- Details

Name:	us-gaap_DebtInstrumentAxis=val_FivePointTwoZeroPercentSeniorNotesDueTwentyTwentyFiveMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

X

- Details

Name:	us-gaap_DebtInstrumentAxis=val_SevenPointThreeSevenFiveSeniorNotesDueTwentyTwentyFiveMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

X

- Details

Name:	us-gaap_DebtInstrumentAxis=val_SevenPointSevenFivePercentSeniorNotesDueTwentyTwentySixMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

X

- Details

Name:	us-gaap_DebtInstrumentAxis=val_SevenPointTwoZeroPercentDebenturesDueTwentyTwentySevenMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

X

- Details

Name:	us-gaap_DebtInstrumentAxis=val_SevenPointEightSevenFivePercentSeniorNotesDueTwentyFortyMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

X

- Details

Name:	us-gaap_DebtInstrumentAxis=val_FivePointFourZeroPercentSeniorNotesDueTwentyFortyTwoMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

X

- Details

Name:	us-gaap_DebtInstrumentAxis=val_FivePointSevenFivePercentSeniorNotesDueTwentyFortyFourMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

X

- Details

Name:	us-gaap_DebtInstrumentAxis=val_FivePointEightFivePercentSeniorNotesDueTwentyFortyFourMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

X

- Details

Name:	us-gaap_LongtermDebtTypeAxis=us-gaap_LineOfCreditMember
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: