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Chapter 11 Proceedings and Ability to Continue as a Going Concern (Tables)
 9 Months Ended
Sep. 30, 2021
Reorganizations [Abstract]  
Schedule Of Liabilities Subject to Compromise
Liabilities subject to compromise at December 31, 2020 (Predecessor) consisted of the following (in millions):
6.875% Senior notes due 2020
$122.9 
4.70% Senior notes due 2021
100.7 
4.875% Senior notes due 2022
620.8 
3.00% Exchangeable senior notes due 2024
849.5 
4.50% Senior notes due 2024
303.4 
4.75% Senior notes due 2024
318.6 
8.00% Senior notes due 2024
292.3 
5.20% Senior notes due 2025
333.7 
7.375% Senior notes due 2025
360.8 
7.75% Senior notes due 2026
1,000.0 
7.20% Debentures due 2027
112.1 
7.875% Senior notes due 2040
300.0 
5.40% Senior notes due 2042
400.0 
5.75% Senior notes due 2044
1,000.5 
5.85% Senior notes due 2044
400.0 
Amounts drawn under the Revolving Credit Facility581.0 
Accrued Interest on Senior Notes and Revolving Credit Facility
203.5 
Rig holding costs(1)
13.9 
Total liabilities subject to compromise$7,313.7 
(1)    Represents the holding costs incurred to maintain VALARIS DS-13 and VALARIS DS-14 in the shipyard.
Schedule Of Reorganization Items
The components of reorganization items, net were as follows (in millions):

SuccessorPredecessor
Three Months Ended September 30, 2021Five Months Ended September 30, 2021 Four Months Ended April 30, 2021Three and Nine Months Ended September 30, 2020
DIP Facility fees$— $— $— $23.8 
Professional fees6.5 12.1 93.4 25.8 
Contract items— (1.5)3.9 — 
Reorganization items (fees)6.5 10.6 97.3 49.6 
Write-off of unamortized debt discounts, premiums and issuance costs$— $— $— $447.9 
Contract items— — .5 — 
Backstop premium— — 30.0 — 
Gain on settlement of liabilities subject to compromise— — (6,139.0)— 
Issuance of Common Shares for backstop premium— — 29.1 — 
Issuance of Common Shares to the Shipyard— — 5.4 — 
Write-off of unrecognized share-based compensation expense— — 16.0 — 
Impact of newbuild contract amendments— — 350.7 — 
Loss on fresh start adjustments— — 9,194.6 — 
Reorganization items (non-cash)— — 3,487.3 447.9 
Total reorganization items, net$6.5 $10.6 $3,584.6 $497.5 
Reorganization items (fees) unpaid$3.0 $3.0 $38.3 $25.8 
Reorganization items (fees) paid$3.5 $7.6 $59.0 $23.8