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Segment Information (Tables) | 9 Months Ended
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Sep. 30, 2022
Segment Reporting Information, Revenue for Reportable Segment [Abstract] |
Schedule Of Segment Reporting Information | Three Months Ended September 30, 2022 (Successor)
| Floaters |  | Jackups |  | ARO |  | Other |  | Reconciling Items |  |  | Consolidated Total |
Revenues | $ | 201.7 |  |  | $ | 195.9 |  |  | $ | 111.4 |  |  | $ | 39.6 |  |  | $ | (111.4) |  |  |  | $ | 437.2 |  |
Operating expenses |  |  |  |  |  |  |  |  |  |  |  |  |
Contract drilling (exclusive of depreciation) | 160.5 |  |  | 128.0 |  |  | 90.0 |  |  | 17.8 |  |  | (59.6) |  |  |  | 336.7 |  |
Depreciation | 12.6 |  |  | 8.7 |  |  | 15.4 |  |  | 1.2 |  |  | (15.3) |  |  |  | 22.6 |  |
General and administrative | — |  |  | — |  |  | 4.7 |  |  | — |  |  | 14.5 |  |  |  | 19.2 |  |
Equity in earnings of ARO | — |  |  | — |  |  | — |  |  | — |  |  | 2.9 |  |  |  | 2.9 |  |
Operating income (loss) | $ | 28.6 |  |  | $ | 59.2 |  |  | $ | 1.3 |  |  | $ | 20.6 |  |  | $ | (48.1) |  |  |  | $ | 61.6 |  |
Property and equipment, net | $ | 473.4 |  |  | $ | 386.7 |  |  | $ | 757.7 |  |  | $ | 57.7 |  |  | $ | (721.9) |  |  |  | $ | 953.6 |  |
Three Months Ended September 30, 2021 (Successor)
| Floaters |  | Jackups |  | ARO |  | Other |  | Reconciling Items |  |  | Consolidated Total
Revenues | $ | 104.3 |  |  | $ | 186.3 |  |  | $ | 117.7 |  |  | $ | 36.1 |  |  | $ | (117.7) |  |  |  | $ | 326.7 |
Operating expenses |  |  |  |  |  |  |  |  |  |  |  |
Contract drilling (exclusive of depreciation) | 91.6 |  |  | 141.7 |  |  | 94.4 |  |  | 14.2 |  |  | (67.3) |  |  |  | 274.6 |
Depreciation | 11.4 |  |  | 12.1 |  |  | 16.8 |  |  | 0.9 |  |  | (16.8) |  |  |  | 24.4 |
General and administrative | — |  |  | — |  |  | 5.4 |  |  | — |  |  | 21.8 |  |  |  | 27.2 |
Equity in earnings of ARO | — |  |  | — |  |  | — |  |  | — |  |  | 2.6 |  |  |  | 2.6 |
Operating income (loss) | $ | 1.3 |  |  | $ | 32.5 |  |  | $ | 1.1 |  |  | $ | 21.0 |  |  | $ | (52.8) |  |  |  | $ | 3.1 |
Property and equipment, net | $ | 416.2 |  |  | $ | 394.2 |  |  | $ | 728.3 |  |  | $ | 47.3 |  |  | $ | (693.7) |  |  |  | $ | 892.3 |
Nine Months Ended September 30, 2022 (Successor)
| Floaters |  | Jackups |  | ARO |  | Other |  | Reconciling Items |  |  | Consolidated Total
Revenues | $ | 489.5 |  |  | $ | 562.4 |  |  | $ | 339.1 |  |  | $ | 117.0 |  |  | $ | (339.1) |  |  |  | $ | 1,168.9 |
Operating expenses |  |  |  |  |  |  |  |  |  |  |  |
Contract drilling (exclusive of depreciation) | 473.4 |  |  | 409.4 |  |  | 256.3 |  |  | 58.0 |  |  | (167.3) |  |  |  | 1,029.8 |
Loss on impairment | 34.5 |  |  | — |  |  | — |  |  | — |  |  | — |  |  |  | 34.5 |
Depreciation | 37.1 |  |  | 26.5 |  |  | 47.3 |  |  | 3.4 |  |  | (46.9) |  |  |  | 67.4 |
General and administrative | — |  |  | — |  |  | 13.1 |  |  | — |  |  | 43.9 |  |  |  | 57.0 |
Equity in earnings of ARO | — |  |  | — |  |  | — |  |  | — |  |  | 15.9 |  |  |  | 15.9 |
Operating income (loss) | $ | (55.5) |  |  | $ | 126.5 |  |  | $ | 22.4 |  |  | $ | 55.6 |  |  | $ | (152.9) |  |  |  | $ | (3.9) |
Property and equipment, net | $ | 473.4 |  |  | $ | 386.7 |  |  | $ | 757.7 |  |  | $ | 57.7 |  |  | $ | (721.9) |  |  |  | $ | 953.6 |
Schedule Of Geographic Distribution Of Rigs By Segment | As of September 30, 2022, the geographic distribution of our and ARO's drilling rigs was as follows:
| Floaters |  | Jackups |  | Other |  | Total Valaris |  | ARO |  |
North & South America | 7 |  | 6 |  | — |  | 13 |  | — |  |
Europe & the Mediterranean | 4 |  | 12 |  | — |  | 16 |  | — |  |
Middle East & Africa | 3 |  | 6 |  | 8 |  | 17 |  | 7 |  |
Asia & Pacific Rim | 2 |  | 4 |  | — |  | 6 |  | — |  |
Total | 16 |  | 28 |  | 8 |  | 52 |  | 7 |  |

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