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Shareholders Equity (Notes) | 6 Months Ended
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Jun. 30, 2021
Shareholders' Equity [Abstract] |
Shareholders' Equity and Share-based Payments [Text Block] | Shareholders' Equity Activity in our various shareholders' equity accounts for the two months ended June 30, 2021 (Successor), one month and four months ended April 30, 2021 (Predecessor), and three and six months ended June 30, 2020 (Predecessor) were as follows (in millions, except per share amounts):
| Shares |  | Par Value |  | Additional Paid-in Capital |  | Warrants |  | Retained Earnings (Deficit) |  | AOCI |  | Treasury Shares |  | Non-controlling Interest
BALANCE, December 31, 2020 (Predecessor) | 206.1 |  |  | $ | 82.6 |  |  | $ | 8,639.9 |  |  | $ | — |  |  | $ | (4,183.8) |  |  | $ | (87.9) |  |  | $ | (76.2) |  |  | $ | (4.3) |
Net loss | — |  |  | — |  |  | — |  |  | — |  |  | (910.0) |  |  | — |  |  | — |  |  | 2.4 |
Shares issued under share-based compensation plans, net | — |  |  | — |  |  | (.2) |  |  | — |  |  | — |  |  | — |  |  | .2 |  |  | — |
Net changes in pension and other postretirement benefits | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | .1 |  |  | — |  |  | — |
Share-based compensation cost | — |  |  | — |  |  | 3.8 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Net other comprehensive loss | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (5.4) |  |  | — |  |  | — |
BALANCE, March 31, 2021 (Predecessor) | 206.1 |  |  | $ | 82.6 |  |  | $ | 8,643.5 |  |  | $ | — |  |  | $ | (5,093.8) |  |  | $ | (93.2) |  |  | $ | (76.0) |  |  | $ | (1.9) |
Net loss | — |  |  | — |  |  | — |  |  | — |  |  | (3,557.0) |  |  | — |  |  | — |  |  | .8 |
Shares issued under share-based compensation plans, net | — |  |  | — |  |  | (.5) |  |  | — |  |  | — |  |  | — |  |  | .5 |  |  | — |
Share-based compensation cost | — |  |  | — |  |  | 1.0 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Net other comprehensive loss | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (.2) |  |  | — |  |  | — |
Cancellation of Predecessor equity | (206.1) |  |  | (82.6) |  |  | (8,644.0) |  |  | — |  |  | 8,650.8 |  |  | 93.4 |  |  | 75.5 |  |  | — |
Issuance of Successor Common Shares and Warrants | 75.0 |  |  | 0.8 |  |  | 1,078.7 |  |  | 16.4 |  |  | — |  |  | — |  |  | — |  |  | — |
BALANCE, April 30, 2021 (Predecessor) | 75.0 |  |  | $ | 0.8 |  |  | $ | 1,078.7 |  |  | $ | 16.4 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | (1.1) |
BALANCE, May 1, 2021 (Successor) | 75.0 |  |  | $ | 0.8 |  |  | $ | 1,078.7 |  |  | $ | 16.4 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | (1.1) |
Net income | — |  |  | — |  |  | — |  |  | — |  |  | (6.2) |  |  | — |  |  | — |  |  | $ | 2.1 |
Net other comprehensive income | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (0.2) |  |  | — |  |  | $ | — |
BALANCE, June 30, 2021 (Successor) | 75.0 |  |  | $ | 0.8 |  |  | $ | 1,078.7 |  |  | $ | 16.4 |  |  | $ | (6.2) |  |  | $ | (0.2) |  |  | $ | — |  |  | $ | 1.0 |
| Shares |  | Par Value |  | Additional Paid-in Capital |  | Retained Earnings (Deficit) |  | AOCI |  | Treasury Shares |  | Non-controlling Interest
BALANCE, December 31, 2019 (Predecessor) | 205.9 |  |  | $ | 82.5 |  |  | $ | 8,627.8 |  |  | $ | 671.7 |  |  | $ | 6.2 |  |  | $ | (77.3) |  |  | $ | (1.3) |
Net loss | — |  |  | — |  |  | — |  |  | (3,006.3) |  |  | — |  |  | — |  |  | (1.4) |
Shares issued under share-based compensation plans, net | — |  |  | — |  |  | (.7) |  |  | — |  |  | — |  |  | .9 |  |  | — |
Repurchase of shares | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (.9) |  |  | — |
Share-based compensation cost | — |  |  | — |  |  | 7.8 |  |  | — |  |  | — |  |  | — |  |  | — |
Net other comprehensive loss | — |  |  | — |  |  | — |  |  | — |  |  | (13.4) |  |  | — |  |  | — |
BALANCE, March 31, 2020 (Predecessor) | 205.9 |  |  | $ | 82.5 |  |  | $ | 8,634.9 |  |  | $ | (2,334.6) |  |  | $ | (7.2) |  |  | $ | (77.3) |  |  | $ | (2.7) |
Net loss | — |  |  | — |  |  | — |  |  | (1,107.4) |  |  | — |  |  | — |  |  | (1.4) |
Shares issued under share-based compensation plans, net | .2 |  |  | .1 |  |  | (.7) |  |  | — |  |  | — |  |  | .6 |  |  | — |
Repurchase of shares | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (.1) |  |  | — |
Share-based compensation cost | — |  |  | — |  |  | 5.7 |  |  | — |  |  | — |  |  | — |  |  | — |
Net other comprehensive loss | — |  |  | — |  |  | — |  |  | — |  |  | (6.1) |  |  | — |  |  | — |
Distributions to noncontrolling interests |  |  |  |  |  |  |  |  |  |  |  |  | $ | (0.9) |
BALANCE, June 30, 2020 (Predecessor) | 206.1 |  |  | $ | 82.6 |  |  | $ | 8,639.9 |  |  | $ | (3,442.0) |  |  | $ | (13.3) |  |  | $ | (76.8) |  |  | $ | (5.0) |
Valaris Share Capital As of the Effective Date, the authorized share capital of Valaris is $8.5 million divided into 700 million Common Shares of a par value of $0.01 each and 150 million preference shares of a par value of $0.01. Issuance of Common Shares On the Effective Date, pursuant to the plan of reorganization, we issued 75 million Common Shares. Cancellation of Predecessor Equity and Issuance of Warrants On the Effective Date and pursuant to the plan of reorganization, the Legacy Valaris Class A ordinary shares were cancelled and the Company issued 5,645,161 Warrants to the former holders of the Company's equity interests outstanding prior to the Effective Date. The Warrants are exercisable for one Common Share per Warrant at initial exercise price of $131.88 per Warrant, in each case as may be adjusted from time to time pursuant to the applicable warrant agreement. The Warrants are exercisable for a period of seven years and will expire on April 29, 2028. The exercise of these Warrants into Common Shares would have a dilutive effect to the holdings of Valaris’s existing shareholders. Management Incentive Plan In accordance with the plan of reorganization, Valaris adopted the Valaris Limited 2021 Management Incentive Plan (the “MIP”) as of the Effective Date and authorized and reserved 8,960,573 Common Shares for issuance pursuant to equity incentive awards to be granted under the MIP, which may be in the form of incentive stock options, nonstatutory stock options, restricted stock, restricted stock units, stock appreciation rights, dividend equivalents and cash awards or any combination thereof.

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- Definition The entire disclosure for shareholders' equity and share-based payment arrangement. Includes, but is not limited to, disclosure of policy and terms of share-based payment arrangement, deferred compensation arrangement, and employee stock purchase plan (ESPP). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -URI http://asc.fasb.org/topic&trid=2228938 + Details
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- Definition Shareholders' Equity [Abstract] + References No definition available. + Details
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