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Earnings Per Share	3 Months Ended
Earnings Per Share	Mar. 31, 2022
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. Basic and diluted earnings per share ("EPS") for the Predecessor was calculated in accordance with the two-class method. Predecessor net loss attributable to Legacy Valaris used in our computations of basic and diluted EPS was adjusted to exclude net income allocated to non-vested shares granted to our employees and non-employee directors. 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 months ended March 31, 2022, 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. Additionally, for the Predecessor, during the three months ended March 31, 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. For the Successor, during the three months ended March 31, 2022, loss from continuing operations attributable to our shares was $38.6 million. For the Predecessor, during the three months ended March 31, 2021, loss from continuing operations attributable to Legacy Valaris and Legacy Valaris shares was $910.0 million. No amounts were allocated to non-vested share awards in this period given that losses are not allocated to non-vested share awards. Anti-dilutive share awards totaling 1.0 million and 300,000 for the three months ended March 31, 2022 (Successor) and the three months ended March 31, 2021 (Predecessor), respectively, were excluded from the computation of diluted EPS. Due to the net loss position, potentially dilutive share awards are excluded from the computation of diluted EPS. We have 5,470,972 warrants outstanding (the "Warrants") as of March 31, 2022 to purchase common shares of Valaris Limited which are exercisable for one Common Share per Warrant at an 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. These warrants are anti-dilutive for the three months ended March 31, 2022.