XML 15 R2.htm IDEA: XBRL DOCUMENT v3.22.2
Condensed Consolidated Statements Of Operations - USD ($)
shares in Millions, $ in Millions
 1 Months Ended 2 Months Ended 3 Months Ended 4 Months Ended 6 Months Ended
Apr. 30, 2021
Jun. 30, 2021
Jun. 30, 2022
Apr. 30, 2021
Jun. 30, 2022
Income Statement [Abstract]          
OPERATING REVENUES $ 90.3 $ 202.8 $ 413.3 $ 397.4 $ 731.7
OPERATING EXPENSES          
Contract Drilling 90.2 168.6 361.8 343.8 693.1
Asset Impairment Charges 0.0 0.0 34.5 756.5 34.5
Depreciation expense 37.5 16.6 22.3 159.6 44.8
General and Administrative Expense 6.4 12.7 19.0 30.7 37.8
Total operating expenses 134.1 197.9 437.6 1,290.6 810.2
Equity in earnings of ARO (1.2) (4.8) (8.7) (3.1) (13.0)
OPERATING INCOME (LOSS) (42.6) 9.7 (15.6) (890.1) (65.5)
OTHER INCOME (EXPENSE)          
Other Interest and Dividend Income 1.0 7.8 11.2 3.6 22.1
Interest expense, net (1.1) (8.0) (11.6) (2.4) (23.1)
Reorganization Items (3,532.4) (4.1) (0.7) (3,584.6) (1.7)
Other Nonoperating Income (Expense) 3.4 5.6 149.7 25.9 160.7
OTHER INCOME (EXPENSE), NET (3,529.1) 1.3 148.6 (3,557.5) 158.0
INCOME (LOSS) BEFORE INCOME TAXES (3,571.7) 11.0 133.0 (4,447.6) 92.5
Income Tax Expense (Benefit), Continuing Operations [Abstract]          
Current Income Tax Expense (Benefit) 3.6 14.0 12.9 34.4 12.8
Deferred income tax expense (benefit) (19.1) 1.1 7.3 (18.2) 6.7
Total provision for income taxes (15.5) 15.1 20.2 16.2 19.5
Net income (loss) (3,556.2) (4.1) 112.8 (4,463.8) 73.0
NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS (0.8) (2.1) (1.2) (3.2) 0.0
NET INCOME (LOSS) ATTRIBUTABLE TO VALARIS $ (3,557.0) $ (6.2) $ 111.6 $ (4,467.0) $ 73.0
EARNINGS (LOSS) PER SHARE          
Earnings Per Share, Basic $ (17.81) $ (0.08) $ 1.49 $ (22.38) $ 0.97
Earnings Per Share, Diluted $ (17.81) $ (0.08) $ 1.48 $ (22.38) $ 0.97
WEIGHTED-AVERAGE SHARES OUTSTANDING          
Basic 199.7 75.0 75.0 199.6 75.0
Diluted 199.7 75.0 75.6 199.6 75.5