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Segment Information (Tables)

9 Months Ended

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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- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

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