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Share Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2021
Share-based Payment Arrangement [Abstract]  
Summary Of Non-Vested Share Award Related Compensation Expense Recognized
The following table summarizes share award and cash-settled award compensation expense recognized
(in millions):
SuccessorPredecessor
Eight Months Ended December 31, 2021Four Months Ended April 30, 2021Year Ended December 31, 2020Year Ended December 31, 2019
Contract drilling$1.6 $2.4 $10.7 $22.1 
General and administrative2.0 2.4 9.2 17.4 
3.6 4.8 19.9 39.5 
Tax benefit(0.2)(0.5)(1.8)(2.5)
Total
$3.4 $4.3 $18.1 $37.0 
Summary Of Value Of Non-Vested Share Awards Granted And Vested
The following tables summarizes the value of share awards and cash-settled awards granted and vested:
Share Awards
SuccessorPredecessor
Eight Months Ended December 31, 2021Four Months Ended April 30, 2021Year Ended December 31, 2020Year Ended December 31, 2019
Weighted-average grant-date fair value of share awards granted (per share) (1)
$26.07 $— $3.07 $11.50 
Total fair value of share awards vested during the period (in millions) (2)
$— $0.02 $3.26 $17.70 
(1)During the four months ended April 30, 2021 (Predecessor), no share unit awards were granted.
(2)No share awards vested during the eight months ended December 31, 2021 (Successor).

Cash-Settled Awards
SuccessorPredecessor
Eight Months Ended December 31, 2021Four Months Ended April 30, 2021Year Ended December 31, 2020Year Ended December 31, 2019
Weighted-average grant-date fair value of share awards granted (per share) (1)
$— $— $0.75 $— 
Total fair value of share awards vested during the period (in millions) (2)
$— $— $0.22 $3.50 
(1)During the eight months ended December 31, 2021 (Successor), four months ended April 30, 2021 (Predecessor) and year ended December 31, 2019 (Predecessor) no cash-settled awards were granted.
(2)During the eight months ended December 31, 2021 (Successor), no cash-settled awards were vested.
Summary Of Non-Vested Share Award Activity
The following table summarizes share awards and cash-settled awards activity for the four months ended April 30, 2021 (Predecessor) and eight months ended December 31, 2021 (Successor) (shares in thousands):
Share AwardsCash-settled Awards
AwardsWeighted-Average
Grant-Date
Fair Value		AwardsWeighted-Average
Grant-Date
Fair Value
Share awards and cash-settled awards as of
December 31, 2020 (Predecessor)
2,982 $16.40 311 $22.74 
Vested(195)16.93 (25)11.35 
Forfeited(295)32.98 (5)29.18 
Cancelled(2,492)14.25 (281)23.65 
Share awards and cash-settled awards as of
April 30, 2021 (Predecessor)
— $— — $— 
Share awards and cash-settled awards as of
May 1, 2021 (Successor)
— $— — $— 
Granted1,050 26.07 — — 
Forfeited(192)25.02 — — 
Share awards and cash-settled awards as of
December 31, 2021 (Successor)
858 $26.30 — $— 
Schedule of Share-based Payment Award, Employee Stock Purchase Plan, Valuation Assumptions
The fair value of the 2021 performance awards granted during the eight months ended December 31, 2021 (Successor) are measured on the date of grant. The grant-date fair value per unit for the portion of the performance awards related to Performance-Based Objectives was equal to the closing price of the Company's stock on the grant date. The portion of these awards that were based on the Company's achievement of Market-based Objectives were valued at the date of grant using a Monte Carlo simulation with the following weighted average assumptions for the grants made over the eight months ended December 31, 2021:

Expected price volatility61 %
Expected dividend yield— 
Risk-free interest rate0.73 %
Schedule Of Summary Of Performance Award Activity
The following table summarizes the performance award activity for the eight months ended December 31, 2021 (Successor) (shares in thousands):

AwardsWeighted Average Grant Date Fair Value Price
Balance as of May 1, 2021 (Successor)
— — 
Granted - Market-Based Objectives (1)
984 12.09 
Granted - Performance-Based Objectives (1)
328 27.44 
Total Granted1,312 15.93 
Forfeited - Market-Based Objectives(527)11.04 
Forfeited - Performance-Based Objectives(176)25.02 
Total Forfeited(703)14.54 
Balance as of December 31, 2021 (Successor)
609 17.53