XML 52 R40.htm IDEA: XBRL DOCUMENT
v3.22.2.2

Property and Equipment (Narratives) (Details) - USD ($) $ in Millions | 1 Months Ended | 3 Months Ended | 4 Months Ended | 5 Months Ended | 6 Months Ended | 9 Months Ended
--- | --- | --- | --- | --- | --- | ---
Apr. 30, 2021 | Jun. 30, 2022 | Mar. 31, 2022 | Mar. 31, 2021 | Apr. 30, 2021 | Sep. 30, 2021 | Jun. 30, 2023 | Sep. 30, 2022
Property, Plant and Equipment [Line Items] |  |  |  |  |  |  |  |
Loss on impairment |  | $ 34.5 |  |  | $ 756.5 | $ 0.0 |  | $ 34.5
Gain (Loss) on Disposition of Other Assets | $ 5.3 |  | $ 2.0 |  |  |  |  |
Net proceeds from disposition of assets |  | 7.0 |  |  | 30.1 | $ 1.5 |  | 146.8
Operating Segments [Member] | Jackups |  |  |  |  |  |  |  |
Property, Plant and Equipment [Line Items] |  |  |  |  |  |  |  |
Loss on impairment |  |  |  |  | $ 0.0 |  |  | $ 0.0
Operating Segments [Member] | Jackups | V54 | Forecast |  |  |  |  |  |  |  |
Property, Plant and Equipment [Line Items] |  |  |  |  |  |  |  |
Gain (Loss) on Disposition of Other Assets |  |  |  |  |  |  | $ 28.0 |
Operating Segments [Member] | Jackups | V113 & V114 |  |  |  |  |  |  |  |
Property, Plant and Equipment [Line Items] |  |  |  |  |  |  |  |
Gain (Loss) on Disposition of Other Assets |  | 120.0 |  |  |  |  |  |
Operating Segments [Member] | Jackups | V36 |  |  |  |  |  |  |  |
Property, Plant and Equipment [Line Items] |  |  |  |  |  |  |  |
Gain (Loss) on Disposition of Other Assets |  | $ 8.5 |  |  |  |  |  |
Foreign Exchange Forward |  |  |  |  |  |  |  |
Property, Plant and Equipment [Line Items] |  |  |  |  |  |  |  |
Gain (Loss) Reclassified from Accumulated Other Comprehensive Income ("AOCI") into Income (Effective Portion) |  |  |  | $ 5.6 |  |  |  |
Floaters |  |  |  |  |  |  |  |
Property, Plant and Equipment [Line Items] |  |  |  |  |  |  |  |
Loss on impairment |  |  |  | 756.5 |  |  |  |
Property, Plant, and Equipment, Fair Value Disclosure |  |  |  | $ 26.0 |  |  |  |

X
- Definition Amount of write-down of assets recognized in the income statement. Includes, but is not limited to, losses from tangible assets, intangible assets and goodwill. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 28 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126954810&loc=d3e3602-108585 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 45 -Paragraph 4 -URI https://asc.fasb.org/extlink&oid=126905981&loc=d3e2420-110228 + Details
Name: | us-gaap_AssetImpairmentCharges
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition The effective portion of net gain (loss) reclassified from accumulated other comprehensive income into income on derivative instruments designated and qualifying as hedging instruments. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4D -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5624177-113959 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5624171-113959 + Details
Name: | us-gaap_DerivativeInstrumentsGainLossReclassifiedFromAccumulatedOCIIntoIncomeEffectivePortionNet
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Amount of gain (loss) on sale or disposal of other assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 28 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126954810&loc=d3e3602-108585 + Details
Name: | us-gaap_GainLossOnSaleOfOtherAssets
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition The cash inflow from the sale of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 12 -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=126954810&loc=d3e3179-108585 + Details
Name: | us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition Fair value portion of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 + Details
Name: | us-gaap_PropertyPlantAndEquipmentFairValueDisclosure
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References No definition available. + Details
Name: | us-gaap_PropertyPlantAndEquipmentLineItems
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | srt_ConsolidationItemsAxis=us-gaap_OperatingSegmentsMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_StatementBusinessSegmentsAxis=val_JackupsMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | val_DrillingRigsAxis=val_V54Member
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | srt_StatementScenarioAxis=srt_ScenarioForecastMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | val_DrillingRigsAxis=val_V113V114Member
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | val_DrillingRigsAxis=val_V36Member
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DerivativeInstrumentRiskAxis=us-gaap_ForeignExchangeForwardMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_PropertyPlantAndEquipmentByTypeAxis=val_FloatersMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |