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v3.21.2

Segment Information (Tables) | 6 Months Ended
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Jun. 30, 2021
Segment Reporting Information, Revenue for Reportable Segment [Abstract] |
Schedule Of Segment Reporting Information | Two Months Ended June 30, 2021 (Successor)
| Floaters |  | Jackups |  | ARO |  | Other |  | Reconciling Items |  | Consolidated Total |
Revenues | $ | 49.7 |  |  | $ | 128.5 |  |  | $ | 84.0 |  |  | $ | 24.6 |  |  | $ | (84.0) |  |  | $ | 202.8 |  |
Operating expenses |  |  |  |  |  |  |  |  |  |  |  |
Contract drilling (exclusive of depreciation) | 45.2 |  |  | 95.5 |  |  | 62.9 |  |  | 9.2 |  |  | (44.1) |  |  | 168.7 |  |
Depreciation | 7.9 |  |  | 7.8 |  |  | 9.7 |  |  | .8 |  |  | (9.6) |  |  | 16.6 |  |
General and administrative | — |  |  | — |  |  | 3.1 |  |  | — |  |  | 9.6 |  |  | 12.7 |  |
Equity in earnings of ARO | — |  |  | — |  |  | — |  |  | — |  |  | 4.8 |  |  | 4.8 |  |
Operating income (loss) | $ | (3.4) |  |  | $ | 25.2 |  |  | $ | 8.3 |  |  | $ | 14.6 |  |  | $ | (35.1) |  |  | $ | 9.6 |  |
Property and equipment, net | $ | 413.8 |  |  | $ | 396.2 |  |  | $ | 730.0 |  |  | $ | 49.8 |  |  | $ | (692.0) |  |  | $ | 897.8 |  |
One Month Ended April 30, 2021 (Predecessor)
| Floaters |  | Jackups |  | ARO |  | Other |  | Reconciling Items |  | Consolidated Total
Revenues | $ | 18.4 |  |  | $ | 59.8 |  |  | $ | 40.8 |  |  | $ | 12.1 |  |  | $ | (40.8) |  |  | $ | 90.3 |
Operating expenses |  |  |  |  |  |  |  |  |  |  |
Contract drilling (exclusive of depreciation) | 21.7 |  |  | 48.8 |  |  | 29.8 |  |  | 4.7 |  |  | (19.4) |  |  | 85.6 |
Depreciation | 15.9 |  |  | 17.3 |  |  | 4.9 |  |  | 3.5 |  |  | (4.1) |  |  | 37.5 |
General and administrative | — |  |  | — |  |  | 1.2 |  |  | — |  |  | 5.2 |  |  | 6.4 |
Equity in earnings of ARO | — |  |  | — |  |  | — |  |  | — |  |  | 1.2 |  |  | 1.2 |
Operating income (loss) | $ | (19.2) |  |  | $ | (6.3) |  |  | $ | 4.9 |  |  | $ | 3.9 |  |  | $ | (21.3) |  |  | $ | (38.0) |
Property and equipment, net | $ | 419.3 |  |  | $ | 401.4 |  |  | $ | 730.7 |  |  | $ | 50.5 |  |  | $ | (692.8) |  |  | $ | 909.1 |
Four Months Ended April 30, 2021 (Predecessor)
| Floaters |  | Jackups |  | ARO |  | Other |  | Reconciling Items |  | Consolidated Total
Revenues | $ | 115.7 |  |  | $ | 232.4 |  |  | $ | 163.5 |  |  | $ | 49.3 |  |  | $ | (163.5) |  |  | $ | 397.4 |
Operating expenses |  |  |  |  |  |  |  |  |  |  |
Contract drilling (exclusive of depreciation) | 106.0 |  |  | 169.3 |  |  | 116.1 |  |  | 19.8 |  |  | (73.4) |  |  | 337.8 |
Loss on impairment | 756.5 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 756.5 |
Depreciation | 72.1 |  |  | 69.7 |  |  | 21.0 |  |  | 14.8 |  |  | (18.0) |  |  | 159.6 |
General and administrative | — |  |  | — |  |  | 4.2 |  |  | — |  |  | 26.5 |  |  | 30.7 |
Equity in earnings of ARO | — |  |  | — |  |  | — |  |  | — |  |  | 3.1 |  |  | 3.1 |
Operating income (loss) | $ | (818.9) |  |  | $ | (6.6) |  |  | $ | 22.2 |  |  | $ | 14.7 |  |  | $ | (95.5) |  |  | $ | (884.1) |
Property and equipment, net | $ | 419.3 |  |  | $ | 401.4 |  |  | $ | 730.7 |  |  | $ | 50.5 |  |  | $ | (692.8) |  |  | $ | 909.1 |
Three Months Ended June 30, 2020 (Predecessor)
| Floaters |  | Jackups |  | ARO |  | Other |  | Reconciling Items |  | Consolidated Total
Revenues | $ | 163.6 |  |  | $ | 186.3 |  |  | $ | 146.0 |  |  | $ | 38.9 |  |  | $ | (146.0) |  |  | $ | 388.8 |
Operating expenses |  |  |  |  |  |  |  |  |  |  |
Contract drilling (exclusive of depreciation) | 150.5 |  |  | 163.5 |  |  | 112.5 |  |  | 15.3 |  |  | (71.1) |  |  | 370.7 |
Loss on impairment | 831.9 |  |  | .4 |  |  | — |  |  | 5.7 |  |  | — |  |  | 838.0 |
Depreciation | 62.0 |  |  | 52.8 |  |  | 13.3 |  |  | 11.2 |  |  | (7.8) |  |  | 131.5 |
General and administrative | — |  |  | — |  |  | 7.1 |  |  | — |  |  | 55.5 |  |  | 62.6 |
Equity in losses of ARO | — |  |  | — |  |  | — |  |  | — |  |  | (5.2) |  |  | (5.2) |
Operating income (loss) | $ | (880.8) |  |  | $ | (30.4) |  |  | $ | 13.1 |  |  | $ | 6.7 |  |  | $ | (127.8) |  |  | $ | (1,019.2) |
Property and equipment, net | $ | 6,536.9 |  |  | $ | 4,000.6 |  |  | $ | 739.7 |  |  | $ | 600.4 |  |  | $ | (685.0) |  |  | $ | 11,192.6 |
Six Months Ended June 30, 2020 (Predecessor)
| Floaters |  | Jackups |  | ARO |  | Other |  | Reconciling Items |  | Consolidated Total
Revenues | $ | 343.2 |  |  | $ | 399.1 |  |  | $ | 286.3 |  |  | $ | 103.1 |  |  | $ | (286.3) |  |  | $ | 845.4 |
Operating expenses |  |  |  |  |  |  |  |  |  |  |
Contract drilling (exclusive of depreciation) | 339.3 |  |  | 370.1 |  |  | 220.8 |  |  | 49.4 |  |  | (132.9) |  |  | 846.7 |
Loss on impairment | 3,386.2 |  |  | 254.3 |  |  | — |  |  | 5.7 |  |  | — |  |  | 3,646.2 |
Depreciation | 151.4 |  |  | 111.3 |  |  | 26.3 |  |  | 22.3 |  |  | (15.3) |  |  | 296.0 |
General and administrative | — |  |  | — |  |  | 15.4 |  |  | — |  |  | 100.6 |  |  | 116.0 |
Equity in losses of ARO | — |  |  | — |  |  | — |  |  | — |  |  | (11.5) |  |  | (11.5) |
Operating income (loss) | $ | (3,533.7) |  |  | $ | (336.6) |  |  | $ | 23.8 |  |  | $ | 25.7 |  |  | $ | (250.2) |  |  | $ | (4,071.0) |
Property and equipment, net | $ | 6,536.9 |  |  | $ | 4,000.6 |  |  | $ | 739.7 |  |  | $ | 600.4 |  |  | $ | (685.0) |  |  | $ | 11,192.6 |
Schedule Of Geographic Distribution Of Rigs By Segment | As of June 30, 2021, the geographic distribution of our and ARO's drilling rigs was as follows:
| Floaters |  | Jackups |  | Other |  | Total Valaris |  | ARO |  |
North & South America | 5 |  | 6 |  | — |  | 11 |  | — |  |
Europe & the Mediterranean | 7 |  | 14 |  | — |  | 21 |  | — |  |
Middle East & Africa | 2 |  | 8 |  | 9 |  | 19 |  | 7 |  |
Asia & Pacific Rim | 2 |  | 6 |  | — |  | 8 |  | — |  |
Held-for-sale |  |  | 1 |  | — |  | 1 |  | — |  |
Total | 16 |  | 35 |  | 9 |  | 60 |  | 7 |  |

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