Earnings Per Share	9 Months Ended
Earnings Per Share	Sep. 30, 2021
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share Basic income (loss) per share is computed by dividing net income (loss) available to common shareholders by the weighted-average number of common shares outstanding during the period. Weighted-average shares outstanding used in our computation of diluted EPS is calculated using the treasury stock method and for the Successor includes the effect of all potentially dilutive Warrants, restricted stock unit awards and performance stock unit awards and for the Predecessor includes the effect of all potentially dilutive stock options and excludes non-vested shares. For the Successor, during the three and five months ended September 30, 2021, 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. Similarly, for the Predecessor, during the four months ended April 30, 2021 and three and nine months ended September 30, 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. For the Successor, during the three and five months ended September 30, 2021, loss from continuing operations attributable to our shares was $54.5 million and $60.7 million respectively. For the Predecessor, during four months ended April 30, 2021, loss from continuing operations attributable to our shares was $4.5 billion. During three and nine months ended September 30, 2020, loss from continuing operations attributable to our shares were $0.7 billion and $4.8 billion respectively. No amounts were allocated to non-vested share awards in these periods given that losses are not allocated to non-vested share awards. For the Successor, during the three and five months ended September 30, 2021, there were approximately 600,000 and 400,000 anti-dilutive shares, respectively. For the Predecessor, during the four months ended April 30, 2021, anti-dilutive share awards totaling 300,000 were excluded from the computation of diluted EPS. Anti-dilutive share awards totaling 400,000 were excluded from the computation of diluted EPS for both the three and nine months ended September 30, 2020. Due to the net loss position, potentially dilutive share awards are excluded from the computation of diluted EPS. On the Effective Date and pursuant to the plan of reorganization, all of the Predecessor's ordinary shares were cancelled. In accordance with the plan of reorganization, all agreements, instruments and other documents evidencing, relating or otherwise connected with any of Legacy Valaris' equity interests outstanding prior to the Effective Date, including all equity-based awards, were cancelled. On the Effective Date and pursuant to the plan of reorganization, 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 Limited's existing shareholders.