Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
CURRENT ASSETS
Cash and cash equivalents	$ 553.5	$ 608.7
Restricted Cash	23.8	35.9
Accounts receivable, net	544.6	444.2
Other current assets	159.0	117.8
Total current assets	1,280.9	1,206.6
PROPERTY AND EQUIPMENT, AT COST	1,042.6	957.0
Less accumulated depreciation	110.9	66.1
Property, Plant and Equipment, Net, Total	931.7	890.9
Due from Joint Ventures, Noncurrent	264.5	249.1
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures	99.6	86.6
OTHER ASSETS	184.1	176.0
Total assets	2,760.8	2,609.2
CURRENT LIABILITIES
Accounts payable - trade	287.0	225.8
Accrued liabilities and other	260.1	196.2
Total current liabilities	547.1	422.0
LONG-TERM DEBT	545.7	545.3
OTHER LIABILITIES	527.6	581.1
Total liabilities	1,620.4	1,548.4
Commitments and Contingencies
VALARIS SHAREHOLDERS' EQUITY
Stock warrants	16.4	16.4
Additional paid-in capital	1,089.9	1,083.0
Retained earnings (deficit)	40.0	(33.0)
Accumulated other comprehensive loss	(9.2)	(9.1)
Treasury shares, at cost, 3 thousand shares as of June 30, 2022	0.2	0.0
Total Valaris shareholders' equity	1,137.7	1,058.1
NONCONTROLLING INTERESTS	2.7	2.7
Total equity	1,140.4	1,060.8
Total liabilities and shareholders' equity	2,760.8	2,609.2
Preferred Stock
VALARIS SHAREHOLDERS' EQUITY
Shares outstanding	0.0	0.0
Common Stock
VALARIS SHAREHOLDERS' EQUITY
Shares outstanding	$ 0.8	$ 0.8

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

Name:	us-gaap_AccountsPayableCurrent
Namespace Prefix:	us-gaap_
Data Type:	xbrli:monetaryItemType
Balance Type:	credit
Period Type:	instant

- Definition

Amount of accumulated depreciation, depletion and amortization for physical assets used in the normal conduct of business to produce goods and services.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=6391035&loc=d3e2868-110229

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(14))
-URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682