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Segment Information (Tables)

12 Months Ended

Dec. 31, 2021

Segment Reporting Information, Revenue for Reportable Segment [Abstract]

Schedule Of Segment Reporting Information

			Floaters						Jackups						ARO						Other						Reconciling Items						Consolidated Total
Revenues			$	254.5					$	487.1					$	307.1					$	93.4					$	(307.1)					$	835.0
Operating expenses
Contract drilling (exclusive of depreciation)			250.7						365.2						246.2						38.9						(172.3)						728.7
Depreciation			31.0						32.0						44.2						2.8						(43.9)						66.1
General and administrative			—						—						13.6						—						44.6						58.2
Equity in earnings of ARO			—						—						—						—						6.1						6.1
Operating income (loss)			$	(27.2)					$	89.9					$	3.1					$	51.7					$	(129.4)					$	(11.9)
Property and equipment, net			$	408.2					$	401.9					$	730.6					$	46.0					$	(695.8)					$	890.9
Capital expenditures			$	26.0					$	23.7					$	41.8					$	—					$	(41.3)					$	50.2

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)			106.5						175.0						116.1						19.9						(73.7)						343.8
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)			$	(819.4)					$	(12.3)					$	22.2					$	14.6					$	(95.2)					$	(890.1)
Property and equipment, net			$	419.3					$	401.4					$	730.7					$	50.5					$	(692.8)					$	909.1
Capital expenditures			$	3.3					$	5.4					$	14.9					$	—					$	(14.9)					$	8.7

Year Ended December 31, 2020 (Predecessor)

			Floaters						Jackups						ARO						Other						Reconciling Items						Consolidated Total
Revenues			$	505.8					$	765.3					$	549.4					$	156.1					$	(549.4)					$	1,427.2
Operating expenses
Contract drilling (exclusive of depreciation)			566.1						659.5						388.2						82.8						(226.2)						1,470.4
Loss on impairment			3,386.2						254.3						—						5.7						—						3,646.2
Depreciation			262.8						217.2						54.8						44.8						(38.8)						540.8
General and administrative			—						—						24.2						—						190.4						214.6
Other operating income			118.1						—						—						—						—						118.1
Equity in losses of ARO			—						—						—						—						(7.8)						(7.8)
Operating income (loss)			$	(3,591.2)					$	(365.7)					$	82.2					$	22.8					$	(482.6)					$	(4,334.5)
Property and equipment, net			$	6,413.4					$	3,912.6					$	736.2					$	577.9					$	(679.6)					$	10,960.5
Capital expenditures			$	25.1					$	58.9					$	136.1					$	—					$	(126.3)					$	93.8

Year Ended December 31, 2019 (Predecessor)

			Floaters						Jackups						ARO						Other						Reconciling Items						Consolidated Total
Revenues			$	1,014.4					$	834.6					$	410.5					$	204.2					$	(410.5)					$	2,053.2
Operating expenses
Contract drilling (exclusive of depreciation)			785.0						711.3						280.2						111.0						(79.7)						1,807.8
Loss on impairment			88.2						10.2						—						—						5.6						104.0
Depreciation			362.3						203.3						40.3						25.5						(21.7)						609.7
General and administrative			—						—						27.1						—						161.8						188.9
Equity in losses of ARO			—						—						—						—						(12.6)						(12.6)
Operating income (loss)			$	(221.1)					$	(90.2)					$	62.9					$	67.7					$	(489.1)					$	(669.8)
Property and equipment, net			$	10,073.1					$	4,322.7					$	650.7					$	620.9					$	(570.5)					$	15,096.9
Capital expenditures			$	31.4					$	184.6					$	27.5					$	—					$	(16.5)					$	227.0

Schedule Of Geographic Distribution Of Rigs By Segment

As of December 31, 2021 (Successor), the geographic distribution of our and ARO's drilling rigs was as follows:

			Floaters						Jackups						Other						Total Valaris						ARO
North & South America			6						6						—						12						—
Europe & the Mediterranean			6						12						—						18						—
Middle East & Africa			2						8						7						17						7
Asia & Pacific Rim			2						7						—						9						—
Total			16						33						7						56						7

Schedule Of Revenues And Long-Lived Assets By Geographical Segment

Information by country for those countries that account for more than 10% of our long-lived assets, was as follows (in millions):

			Long-lived Assets
			Successor									Predecessor
			December 31, 2021									December 31, 2020						December 31, 2019
United States			$	152.1								$	1,811.9					$	2,972.4
Spain			145.8									2,122.6						3,012.4
United Kingdom			142.4									2,584.0						1,210.5
Saudi Arabia			75.2									1,183.7						1,259.3
Other countries(1)			395.9									3,294.1						6,700.4
Total			$	911.4								$	10,996.3					$	15,155.0

(1)Other countries includes countries where individually we had long-lived assets representing less than 10% of total long-lived assets

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