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Earnings Per Share	3 Months Ended
Earnings Per Share	Mar. 31, 2021
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share We compute basic and diluted earnings per share ("EPS") in accordance with the two-class method. Net loss attributable to Valaris used in our computations of basic and diluted EPS is adjusted to exclude net income allocated to non-vested shares granted to our employees and non-employee directors. Weighted-average shares outstanding used in our computation of diluted EPS is calculated using the treasury stock method and includes the effect of all potentially dilutive stock options and excludes non-vested shares. In the three months ended March 31, 2021 and 2020, our potentially dilutive instruments were not included in the computation of diluted EPS as the effect of including these shares in the calculation would have been anti-dilutive. During the three months ended March 31, 2021, loss from continuing operations attributable to Valaris and loss from continuing operations attributable to Valaris shares was $910.0 million. During the three months ended March 31, 2020, loss from continuing operations attributable to Valaris and loss from continuing operations attributable to Valaris shares was $3.0 billion. No amounts were allocated to non-vested share awards in either period given that losses are not allocated to non-vested share awards. Anti-dilutive share awards totaling 300,000 and 400,000 were excluded from the computation of diluted EPS for the three months ended March 31, 2021 and 2020, respectively. Due to the net loss position, potentially dilutive share awards are excluded from the computation of diluted EPS. Under the terms of our debt agreement, we have the option to settle our 2024 Convertible Notes in cash, shares or a combination thereof for the aggregate amount due upon conversion. However, the Commencement of the Chapter 11 Cases on August 19, 2020, constituted an event of default under the 2024 Convertible Notes. Any efforts to enforce payment obligations under the 2024 Convertible Notes, including any rights to require the repurchase by the Company of the 2024 Convertible Notes upon the NYSE delisting of the Class A ordinary shares, are automatically stayed as a result of the filing of the Chapter 11 Cases. During each respective reporting period that our average share price exceeds the exchange price, an assumed number of shares required to settle the conversion obligation in excess of the principal amount will be included in our denominator for the computation of diluted EPS using the treasury stock method. Our average share price did not exceed the exchange price during the three months ended March 31, 2021 and 2020. Upon emergence from chapter 11, the existing Class A ordinary shares may be exchanged for 7-year warrants to purchase up to 7% of the New Equity (subject to dilution on account of the management incentive plan contemplated by the Amended RSA). The strike price of such warrants, if granted, will be set at a price per share equal to the value at which the senior noteholders would receive a 100% recovery on their claims, including accrued interest up to the Petition Date. See “Note 2 - Chapter 11 Proceedings and Ability to Continue as a Going Concern” for additional information related to our Amended RSA.