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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2021
Dec. 31, 2020
CURRENT ASSETS    
    Cash and cash equivalents $ 608,800 $ 325,800
Restricted cash 53,100 11,400
    Accounts receivable, net 436,100 449,200
    Other current assets 119,700 386,500
Total current assets 1,217,700 1,172,900
PROPERTY AND EQUIPMENT, AT COST 914,400 13,209,300
    Less accumulated depreciation 16,600 2,248,800
Property and equipment, net 897,800 10,960,500
Due from Joint Ventures, Noncurrent 234,300 442,700
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures 85,400 120,900
OTHER ASSETS 166,500 176,200
Total assets 2,601,700 12,873,200
CURRENT LIABILITIES    
Accounts payable - trade 183,900 176,400
Accrued liabilities and other 212,700 250,400
Total current liabilities 396,600 426,800
LONG-TERM DEBT 544,800 0
OTHER LIABILITIES 569,800 762,400
Total liabilities not subject to compromise 1,511,200 1,189,200
LIABILITIES SUBJECT TO COMPROMISE 0 7,313,700
Commitments and Contingencies
VALARIS SHAREHOLDERS' EQUITY    
Successor stock warrants 16,400 0
Successor additional paid-in capital 1,078,700 8,639,900
Retained deficit (6,200) (4,183,800)
Accumulated other comprehensive loss (200) (87,900)
Treasury shares, at cost 0 (76,200)
Total Valaris shareholders' equity 1,089,500 4,374,600
NONCONTROLLING INTERESTS 1,000 (4,300)
Total equity 1,090,500 4,370,300
Total liabilities and shareholders' equity 2,601,700 12,873,200
Predecessor Class A ordinary shares    
VALARIS SHAREHOLDERS' EQUITY    
Common shares, value 0 82,500
Predecessor Class B ordinary shares    
VALARIS SHAREHOLDERS' EQUITY    
Common shares, value 0 100
Preferred Stock    
VALARIS SHAREHOLDERS' EQUITY    
Common shares, value 0 0
Common Stock [Member]    
VALARIS SHAREHOLDERS' EQUITY    
Common shares, value $ 800 $ 0