XML 95 R78.htm IDEA: XBRL DOCUMENT v3.20.4

Share Based Compensation (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands	9 Months Ended	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employer contributions	$ 12,800	$ 11,500
Long-Term Incentive Plan (LTIP) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common Stock, Shares Authorized		8,200,000		10,500,000
Shares reserved for issuance as awards		12,200,000
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Granted in Period		1,100,000
Share Options Award [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost on awards		$ 0
Share options award, outstanding		318,377
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price		$ 44.94
Share Appreciation Award [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share options award, outstanding		426,049
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price		$ 53,230,000
Non-Vested Share Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Granted in Period		66,000
Unrecognized compensation cost on awards		$ 30,400
Recognized compensation cost, weighted-average period, years		1 year 4 months 24 days
Non-Vested Share Awards [Member] | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share awards, vest rate		33.00%
Non-Vested Share Awards [Member] | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share awards, vest rate		20.00%
Exercisable In Increments Over Three-Year Period [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share awards, vest rate		33.00%
Exercisable In Increments Over Four-Year Period [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share awards, vest rate		25.00%
Performance Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Recognized compensation cost, weighted-average period, years		3 months
Share option awards, exercisable, increment		3 years
Performance awards, granted, aggregate grant-date fair value		$ 6,700
Performance awards, vested, aggregate fair value		5,200	$ 2,200	$ 700
Recognized compensation expense		$ 1,000	3,200	8,200
Savings Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee match		100.00%
Employer contributions		$ 8,800	$ 18,700	$ 14,400
Savings Plan [Member] | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum percentage of eligible employee compensation to be matched by employer		5.00%
Atwood Oceanics, Inc. | Long-Term Incentive Plan (LTIP) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares reserved for issuance as awards		200,000
Rowan Companies [Member] | Long-Term Incentive Plan (LTIP) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares reserved for issuance as awards		2,600,000

X

- Definition

Amount of expense for award under share-based payment arrangement. Excludes amount capitalized.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5047-113901

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 14.F)
-URI http://asc.fasb.org/extlink&oid=115993241&loc=d3e301413-122809

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(1)(i)
-URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901

+ Details

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

X

- Definition

Aggregate number of common shares reserved for future issuance.

+ 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 210.5-02.29)
-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

+ Details

Name:	us-gaap_CommonStockCapitalSharesReservedForFutureIssuance
Namespace Prefix:	us-gaap_
Data Type:	xbrli:sharesItemType
Balance Type:	na
Period Type:	instant

X

- Definition

The maximum number of common shares permitted to be issued by an entity's charter and bylaws.

+ 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(29))
-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

+ Details

Name:	us-gaap_CommonStockSharesAuthorized
Namespace Prefix:	us-gaap_
Data Type:	xbrli:sharesItemType
Balance Type:	na
Period Type:	instant

X

- Definition

Amount of contribution received by defined benefit plan from employer which increases plan assets.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 55
-Paragraph 17
-URI http://asc.fasb.org/extlink&oid=118257860&loc=d3e4179-114921

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (d)(iv)(01)
-URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 6
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e2709-114920

Reference 4: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (d)(ii)
-URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 55
-Paragraph 18
-URI http://asc.fasb.org/extlink&oid=118257860&loc=d3e4587-114921

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (d)(iv)(01)
-URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (b)(3)
-URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920

+ Details

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

X

- Definition

Amount of cost not yet recognized for nonvested award under share-based payment arrangement.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (i)
-URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901

+ Details

Name:	us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
Namespace Prefix:	us-gaap_
Data Type:	xbrli:monetaryItemType
Balance Type:	debit
Period Type:	instant

X

- Definition

Weighted-average period over which cost not yet recognized is expected to be recognized for award under share-based payment arrangement, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents reported fact of one year, five months, and thirteen days.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (i)
-URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901

+ Details

Name:	us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
Namespace Prefix:	us-gaap_
Data Type:	xbrli:durationItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Period over which grantee's right to exercise award under share-based payment arrangement is no longer contingent on satisfaction of service or performance condition, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents reported fact of one year, five months, and thirteen days. Includes, but is not limited to, combination of market, performance or service condition.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)(1)
-URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901

+ Details

Name:	us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1
Namespace Prefix:	us-gaap_
Data Type:	xbrli:durationItemType
Balance Type:	na
Period Type:	duration

X

- Definition

The number of grants made during the period on other than stock (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan).

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(iii)(1)
-URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901

+ Details

Name:	us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
Namespace Prefix:	us-gaap_
Data Type:	xbrli:sharesItemType
Balance Type:	na
Period Type:	duration

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

X

- Definition

The weighted-average price as of the balance sheet date at which grantees can acquire the shares reserved for issuance on vested portions of options outstanding and currently exercisable under the stock option plan.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iii)
-URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901

+ Details

Name:	us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
Namespace Prefix:	us-gaap_
Data Type:	num:perShareItemType
Balance Type:	na
Period Type:	instant

X

- Definition

Number of options outstanding, including both vested and non-vested options.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(i)-(ii)
-URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901

+ Details

Name:	us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
Namespace Prefix:	us-gaap_
Data Type:	xbrli:sharesItemType
Balance Type:	na
Period Type:	instant

X

- Definition

Defined contribution plans employee contribution percentage matched by employer.

+ References

No definition available.

+ Details

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

X

- Definition

Defined Contribution Plans Employee Contribution Percentage Of Eligible Compensation Matched By Employer

+ References

No definition available.

+ Details

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

X

- Definition

Performance awards granted aggregate grant date fair value

+ References

No definition available.

+ Details

Name:	val_PerformanceAwardsGrantedAggregateGrantDateFairValue
Namespace Prefix:	val_
Data Type:	xbrli:monetaryItemType
Balance Type:	debit
Period Type:	instant

X

- Definition

Share based compensation arrangement by share based payment award requisite service increment.

+ References

No definition available.

+ Details

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

X

- Definition

Share based compensation arrangement by share based payment award options vested aggregate fair value.

+ References

No definition available.

+ Details

Name:	val_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAggregateFairValue
Namespace Prefix:	val_
Data Type:	xbrli:monetaryItemType
Balance Type:	debit
Period Type:	duration

X

- Details

Name:	us-gaap_PlanNameAxis=val_LongTermIncentivePlanMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

X

- Details

Name:	us-gaap_PlanNameAxis=val_ShareOptionsAwardMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

X

- Details

Name:	us-gaap_PlanNameAxis=val_ShareAppreciationAwardMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

X

- Details

Name:	us-gaap_PlanNameAxis=val_NonVestedShareAwardsMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

X

- Details

Name:	srt_RangeAxis=srt_MaximumMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

X

- Details

Name:	srt_RangeAxis=srt_MinimumMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

X

- Details

Name:	us-gaap_PlanNameAxis=val_ExercisableInIncrementsOverThreeYearPeriodMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

X

- Details

Name:	us-gaap_PlanNameAxis=val_ExercisableInIncrementsOverFourYearPeriodMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

X

- Details

Name:	us-gaap_PlanNameAxis=val_PerformanceAwardsMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

X

- Details

Name:	us-gaap_PlanNameAxis=val_SavingsPlanMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

X

- Details

Name:	us-gaap_BusinessAcquisitionAxis=val_AtwoodOceanicsInc.Member
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

X

- Details

Name:	us-gaap_BusinessAcquisitionAxis=val_RowanCompaniesMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type: