XML 77 R63.htm IDEA: XBRL DOCUMENT
v3.22.4

Debt (Narrative) (Details) - USD ($) |  | 4 Months Ended | 8 Months Ended | 12 Months Ended |
--- | --- | --- | --- | --- | ---
Apr. 30, 2021 | Apr. 30, 2021 | Dec. 31, 2021 | Dec. 31, 2022 | Dec. 31, 2020 | Sep. 25, 2020
Extinguishment of Debt [Line Items] |  |  |  |  |  |
Backstop Commitment Fees |  | $ 0 | $ 0 | $ 0 | $ 447,900,000 |
Backstop Commitment Agreement, Backstop Premium |  | (30,000,000.0) | 0 | 0 | 0 |
BackstopCommitmentAgreementSharesToBeAllocated | 2.70% |  |  |  |  |
BackstopCommitmentAgreementCashSettlement | $ 520,000,000 | 520,000,000 |  |  |  |
BackstopCommitmentAgreementNoteIssued | 550,000,000 | 550,000,000 |  |  |  |
Debtor-in-Possession Financing, Amount Arranged |  |  |  |  |  | $ 500,000,000
Liabilities Subject To Compromise, Accrued Interest On Notes |  |  | 201,900,000 |  | 203,500,000 |
Liabilities Subject to Compromise | 0 | 0 |  |  | 7,313,700,000 |
Long-term Debt | 544,800,000 | 544,800,000 |  |  |  |
Maximum |  |  |  |  |  |
Extinguishment of Debt [Line Items] |  |  |  |  |  |
Debt Instrument, Covenant, Restricted Cash | 175,000,000 | 175,000,000 |  |  |  |
Minimum |  |  |  |  |  |
Extinguishment of Debt [Line Items] |  |  |  |  |  |
Debt Instrument, Covenant, Restricted Cash | 100,000,000 | 100,000,000 |  |  |  |
Senior Notes [Member] |  |  |  |  |  |
Extinguishment of Debt [Line Items] |  |  |  |  |  |
Backstop Commitment Agreement, Backstop Premium | 50,000,000 |  |  |  |  |
BackstopCommitmentAgreementCommitmentFee | 20,000,000 | 20,000,000 |  |  |  |
Senior Notes [Member] | Reported Value Measurement [Member] |  |  |  |  |  |
Extinguishment of Debt [Line Items] |  |  |  |  |  |
Liabilities Subject to Compromise |  |  | $ 6,500,000,000 |  |  |
First Lien Notes | Senior Notes [Member] |  |  |  |  |  |
Extinguishment of Debt [Line Items] |  |  |  |  |  |
Debt Instrument, Face Amount | $ 550,000,000 | $ 550,000,000 |  |  |  |
DebtInstrumentPercentSecuredEquityInterest | 100.00% |  |  |  |  |
DebtInstrumentInterestRateAnnualPaymentPercent | 10.25% |  |  |  |  |
DebtInstrumentAllowableRedemptionPercentPriorToMaturity | 35.00% | 35.00% |  |  |  |
DebtInstrumentRedemptionPricePercentOfNetCashProceedsFromEquityOffering | 104.00% |  |  |  |  |
DebtInstrumentPercentOfNoteRemainingOutstanding | 65.00% |  |  |  |  |
DebtInstrumentRedemptionPeriodTiming | 12000.00% |  |  |  |  |
Debt Instrument, Consent Solicitation Costs |  |  |  | $ 3,900,000 |  |
Debtor-in-Possession Financing, Amount Arranged | $ 520,000,000 | $ 520,000,000 |  |  |  |
First Lien Notes | Senior Notes [Member] | Maximum |  |  |  |  |  |
Extinguishment of Debt [Line Items] |  |  |  |  |  |
Debt Instrument, Covenant, Investment Maximum | $ 175,000,000 | $ 175,000,000 |  |  |  |
Debt Instrument, Covenant, Investment Maximum, Percent Of Total Assets | 6.50% | 6.50% |  |  |  |
First Lien Notes | Senior Notes [Member] | Minimum |  |  |  |  |  |
Extinguishment of Debt [Line Items] |  |  |  |  |  |
Debt Instrument, Covenant, Investment Maximum | $ 100,000,000 | $ 100,000,000 |  |  |  |
Debt Instrument, Covenant, Investment Maximum, Percent Of Total Assets | 4.00% | 4.00% |  |  |  |
First Lien Notes | Senior Notes [Member] | Debt Instrument, Redemption, Period One |  |  |  |  |  |
Extinguishment of Debt [Line Items] |  |  |  |  |  |
DebtInstrumentRedemptionPricePercentOfNetCashProceedsFromEquityOffering | 104.00% |  |  |  |  |
First Lien Notes | Senior Notes [Member] | Debt Instrument, Redemption, Period One | Maximum |  |  |  |  |  |
Extinguishment of Debt [Line Items] |  |  |  |  |  |
DebtInstrumentRedemptionPricePercentOfNetCashProceedsFromEquityOffering | 104.00% |  |  |  |  |
First Lien Notes | Senior Notes [Member] | Debt Instrument, Redemption, Period Three |  |  |  |  |  |
Extinguishment of Debt [Line Items] |  |  |  |  |  |
DebtInstrumentRedemptionPricePercentOfNetCashProceedsFromEquityOffering | 101.00% |  |  |  |  |
First Lien Notes | Senior Notes [Member] | Debt Instrument, Redemption, Period Three | Minimum |  |  |  |  |  |
Extinguishment of Debt [Line Items] |  |  |  |  |  |
DebtInstrumentRedemptionPricePercentOfNetCashProceedsFromEquityOffering | 100.00% |  |  |  |  |
First Lien Notes | Senior Notes [Member] | Debt Instrument Interest Rate Payout Option One Member |  |  |  |  |  |
Extinguishment of Debt [Line Items] |  |  |  |  |  |
DebtInstrumentInterestRateAnnualPaymentPercent | 8.25% |  |  |  |  |
First Lien Notes | Senior Notes [Member] | Debt Instrument Interest Rate Payout Option Two Member |  |  |  |  |  |
Extinguishment of Debt [Line Items] |  |  |  |  |  |
DebtInstrumentAnnualInterestPayoutPercentInCash | 50.00% |  |  |  |  |
DebtInstrumentAnnualInterestPayoutPercentPaidInKind | 50.00% |  |  |  |  |
DebtInstrumentInterestRateAnnualPaymentPercentPaidInKind | 12.00% |  |  |  |  |
Line of Credit [Member] | Line of Credit [Member] | Reported Value Measurement [Member] |  |  |  |  |  |
Extinguishment of Debt [Line Items] |  |  |  |  |  |
Long-term Debt |  |  |  |  | $ 581,000,000 |
Reorganization, Chapter 11, Plan Effect Adjustment |  |  |  |  |  |
Extinguishment of Debt [Line Items] |  |  |  |  |  |
Debt Instrument, Face Amount | $ 550,000,000 | $ 550,000,000 |  |  |  |
Debt Issuance Costs, Net | (5,200,000) | (5,200,000) |  |  |  |
Liabilities Subject to Compromise | (7,313,700,000) | (7,313,700,000) |  |  |  |
Long-term Debt | $ 544,800,000 | $ 544,800,000 |  |  |  |

X
- Definition Face (par) amount of debt instrument at time of issuance. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1B -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=124435984&loc=d3e28551-108399 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 55 -Paragraph 8 -URI https://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=124429444&loc=SL124452920-239629 Reference 5: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 55 -Paragraph 69C -URI https://asc.fasb.org/extlink&oid=123466577&loc=SL123495737-112612 Reference 6: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 55 -Paragraph 69B -URI https://asc.fasb.org/extlink&oid=123466577&loc=SL123495735-112612 + Details
Name: | us-gaap_DebtInstrumentFaceAmount
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Amount debtor-in-possession financing arranged (but not necessarily all borrowed). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 852 -SubTopic 10 -Section 45 -Paragraph 18 -URI https://asc.fasb.org/extlink&oid=124437977&loc=SL2890576-112764 + Details
Name: | us-gaap_DebtorInPossessionFinancingAmountArranged
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Amount of write-off of debt issuance costs and debt discounts related to prepetition debt obligations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 852 -SubTopic 10 -Section 45 -Paragraph 9 -URI https://asc.fasb.org/extlink&oid=124437977&loc=d3e55730-112764 + Details
Name: | us-gaap_DebtorReorganizationItemsWriteOffOfDeferredFinancingCostsAndDebtDiscounts
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition Amount, after accumulated amortization, of debt issuance costs. Includes, but is not limited to, legal, accounting, underwriting, printing, and registration costs. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1D -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495340-112611 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 3 -URI https://asc.fasb.org/extlink&oid=124435984&loc=d3e28555-108399 + Details
Name: | us-gaap_DeferredFinanceCostsNet
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_ExtinguishmentOfDebtLineItems
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Total amount of liabilities subject to compromise. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 852 -SubTopic 10 -Section 55 -Paragraph 3 -URI https://asc.fasb.org/extlink&oid=84165509&loc=d3e56145-112766 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 852 -SubTopic 10 -Section 45 -Paragraph 4 -URI https://asc.fasb.org/extlink&oid=124437977&loc=d3e55717-112764 Reference 3: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 852 -SubTopic 10 -Section 55 -Paragraph 10 -URI https://asc.fasb.org/extlink&oid=84165509&loc=d3e56426-112766 Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 852 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=124433192&loc=d3e56015-112765 + Details
Name: | us-gaap_LiabilitiesSubjectToCompromise
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Amount, excluding unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 4 -Subparagraph (b)(3) -URI https://asc.fasb.org/extlink&oid=123466204&loc=SL6031897-161870 Reference 2: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 55 -Paragraph 69C -URI https://asc.fasb.org/extlink&oid=123466577&loc=SL123495737-112612 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(a)(16)) -URI https://asc.fasb.org/extlink&oid=126734703&loc=d3e572229-122910 Reference 4: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 55 -Paragraph 69B -URI https://asc.fasb.org/extlink&oid=123466577&loc=SL123495735-112612 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(16)) -URI https://asc.fasb.org/extlink&oid=126897435&loc=d3e534808-122878 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1D -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495340-112611 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(22)) -URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
Name: | us-gaap_LongTermDebt
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Backstop Commitment Agreement, Backstop Premium + References No definition available. + Details
Name: | val_BackstopCommitmentAgreementBackstopPremium
Namespace Prefix: | val_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition BackstopCommitmentAgreementCashSettlement + References No definition available. + Details
Name: | val_BackstopCommitmentAgreementCashSettlement
Namespace Prefix: | val_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition BackstopCommitmentAgreementCommitmentFee + References No definition available. + Details
Name: | val_BackstopCommitmentAgreementCommitmentFee
Namespace Prefix: | val_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition BackstopCommitmentAgreementNoteIssued + References No definition available. + Details
Name: | val_BackstopCommitmentAgreementNoteIssued
Namespace Prefix: | val_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition BackstopCommitmentAgreementSharesToBeAllocated + References No definition available. + Details
Name: | val_BackstopCommitmentAgreementSharesToBeAllocated
Namespace Prefix: | val_
Data Type: | dtr-types:percentItemType
Balance Type: | na
Period Type: | duration

X
- Definition DebtInstrumentAllowableRedemptionPercentPriorToMaturity + References No definition available. + Details
Name: | val_DebtInstrumentAllowableRedemptionPercentPriorToMaturity
Namespace Prefix: | val_
Data Type: | dtr-types:percentItemType
Balance Type: | na
Period Type: | instant

X
- Definition DebtInstrumentAnnualInterestPayoutPercentInCash + References No definition available. + Details
Name: | val_DebtInstrumentAnnualInterestPayoutPercentInCash
Namespace Prefix: | val_
Data Type: | dtr-types:percentItemType
Balance Type: | na
Period Type: | duration

X
- Definition DebtInstrumentAnnualInterestPayoutPercentPaidInKind + References No definition available. + Details
Name: | val_DebtInstrumentAnnualInterestPayoutPercentPaidInKind
Namespace Prefix: | val_
Data Type: | dtr-types:percentItemType
Balance Type: | na
Period Type: | duration

X
- Definition Debt Instrument, Consent Solicitation Costs + References No definition available. + Details
Name: | val_DebtInstrumentConsentSolicitationCosts
Namespace Prefix: | val_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition Debt Instrument, Covenant, Investment Maximum + References No definition available. + Details
Name: | val_DebtInstrumentCovenantInvestmentMaximum
Namespace Prefix: | val_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Debt Instrument, Covenant, Investment Maximum, Percent Of Total Assets + References No definition available. + Details
Name: | val_DebtInstrumentCovenantInvestmentMaximumPercentOfTotalAssets
Namespace Prefix: | val_
Data Type: | dtr-types:percentItemType
Balance Type: | na
Period Type: | instant

X
- Definition Debt Instrument, Covenant, Restricted Cash + References No definition available. + Details
Name: | val_DebtInstrumentCovenantRestrictedCash
Namespace Prefix: | val_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition DebtInstrumentInterestRateAnnualPaymentPercent + References No definition available. + Details
Name: | val_DebtInstrumentInterestRateAnnualPaymentPercent
Namespace Prefix: | val_
Data Type: | dtr-types:percentItemType
Balance Type: | na
Period Type: | duration

X
- Definition DebtInstrumentInterestRateAnnualPaymentPercentPaidInKind + References No definition available. + Details
Name: | val_DebtInstrumentInterestRateAnnualPaymentPercentPaidInKind
Namespace Prefix: | val_
Data Type: | dtr-types:percentItemType
Balance Type: | na
Period Type: | duration

X
- Definition DebtInstrumentPercentOfNoteRemainingOutstanding + References No definition available. + Details
Name: | val_DebtInstrumentPercentOfNoteRemainingOutstanding
Namespace Prefix: | val_
Data Type: | dtr-types:percentItemType
Balance Type: | na
Period Type: | duration

X
- Definition DebtInstrumentPercentSecuredEquityInterest + References No definition available. + Details
Name: | val_DebtInstrumentPercentSecuredEquityInterest
Namespace Prefix: | val_
Data Type: | dtr-types:percentItemType
Balance Type: | na
Period Type: | duration

X
- Definition DebtInstrumentRedemptionPeriodTiming + References No definition available. + Details
Name: | val_DebtInstrumentRedemptionPeriodTiming
Namespace Prefix: | val_
Data Type: | dtr-types:percentItemType
Balance Type: | na
Period Type: | duration

X
- Definition DebtInstrumentRedemptionPricePercentOfNetCashProceedsFromEquityOffering + References No definition available. + Details
Name: | val_DebtInstrumentRedemptionPricePercentOfNetCashProceedsFromEquityOffering
Namespace Prefix: | val_
Data Type: | dtr-types:percentItemType
Balance Type: | na
Period Type: | duration

X
- Definition Liabilities Subject To Compromise, Accrued Interest On Notes + References No definition available. + Details
Name: | val_LiabilitiesSubjectToCompromiseAccruedInterestOnNotes
Namespace Prefix: | val_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Details
Name: | srt_RangeAxis=srt_MaximumMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | srt_RangeAxis=srt_MinimumMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_LongtermDebtTypeAxis=us-gaap_SeniorNotesMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FairValueByMeasurementBasisAxis=us-gaap_CarryingReportedAmountFairValueDisclosureMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DebtInstrumentAxis=val_FirstLienNotesMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DebtInstrumentRedemptionPeriodAxis=us-gaap_DebtInstrumentRedemptionPeriodOneMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DebtInstrumentRedemptionPeriodAxis=us-gaap_DebtInstrumentRedemptionPeriodThreeMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | val_DebtInstrumentInterestRatePayoutOptionAxisAxis=val_DebtInstrumentInterestRatePayoutOptionOneMemberMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | val_DebtInstrumentInterestRatePayoutOptionAxisAxis=val_DebtInstrumentInterestRatePayoutOptionTwoMemberMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DebtInstrumentAxis=us-gaap_LineOfCreditMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_LongtermDebtTypeAxis=us-gaap_LineOfCreditMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FreshStartAdjustmentsTypeOfFreshStartAdjustmentAxis=us-gaap_ReorganizationChapter11PlanEffectAdjustmentMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |