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v3.21.1

Condensed Consolidated Statements Of Operations - USD ($) shares in Millions, $ in Millions | 3 Months Ended
--- | ---
Mar. 31, 2021 | Mar. 31, 2020
Income Statement [Abstract] |  |
OPERATING REVENUES | $ 307.1 | $ 456.6
OPERATING EXPENSES |  |
Contract drilling (exclusive of depreciation) | 252.2 | 476.0
Loss on impairment | 756.5 | 2,808.2
Depreciation expense | 122.1 | 164.5
General and administrative | 24.3 | 53.4
Total operating expenses | 1,155.1 | 3,502.1
Equity in losses (earnings) of ARO | (1.9) | 6.3
OPERATING LOSS | (846.1) | (3,051.8)
OTHER INCOME (EXPENSE) |  |
Interest income | 2.6 | 4.8
Interest expense, net | (1.3) | (113.2)
Reorganization items, net | (52.2) | 0.0
Other, net | 21.1 | 0.5
OTHER INCOME (EXPENSE), NET | (29.8) | (107.9)
LOSS BEFORE INCOME TAXES | (875.9) | (3,159.7)
PROVISION (BENEFIT) FOR INCOME TAXES |  |
Current income tax expense | 30.8 | (72.5)
Deferred income tax expense (benefit) | 0.9 | (79.5)
Total provision for income taxes | 31.7 | (152.0)
Net loss | (907.6) | (3,007.7)
NET (INCOME) LOSS ATTRIBUTABLE TO NONCONTROLLING INTERESTS | (2.4) | 1.4
NET LOSS ATTRIBUTABLE TO VALARIS | $ (910.0) | $ (3,006.3)
LOSS PER SHARE - BASIC AND DILUTED |  |
Continuing operations (in dollars per share) | $ (4.56) | $ (15.19)
WEIGHTED-AVERAGE SHARES OUTSTANDING |  |
Basic and Diluted (in shares) | 199.6 | 197.9

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