XML 17 R3.htm IDEA: XBRL DOCUMENT v3.22.4
Consolidated Statements Of Operations - USD ($)
shares in Thousands, $ in Millions
4 Months Ended 8 Months Ended 12 Months Ended
Apr. 30, 2021
Dec. 31, 2021
Dec. 31, 2022
Dec. 31, 2020
Income Statement [Abstract]        
Revenues $ 397.4 $ 835.0 $ 1,602.5 $ 1,427.2
OPERATING EXPENSES        
Contract Drilling 343.8 724.1 1,383.2 1,470.4
Asset Impairment Charges 756.5 0.0 34.5 3,646.2
Depreciation 159.6 66.1 91.2 540.8
General and administrative 30.7 58.2 80.9 214.6
Total operating expenses 1,290.6 848.4 1,589.8 5,872.0
Other Operating Income 0.0 0.0 0.0 118.1
EQUITY IN EARNINGS (LOSSES) OF ARO 3.1 6.1 24.5 (7.8)
OPERATING INCOME (LOSS) (890.1) (7.3) 37.2 (4,334.5)
OTHER INCOME (EXPENSE)        
Interest income 3.6 28.5 65.5 19.7
Interest Expense, Other 2.4 31.0 45.3 290.6
Reorganization Items (3,584.6) (15.5) (2.4) (527.6)
Other, net 25.9 38.1 169.9 16.0
Other income (expense), net (3,557.5) 20.1 187.7 (782.5)
INCOME (LOSS) BEFORE INCOME TAXES (4,447.6) 12.8 224.9 (5,117.0)
PROVISION (BENEFIT) FOR INCOME TAXES        
Current income tax expense 34.4 57.7 35.2 (153.7)
Deferred income tax expense (benefit) (18.2) (21.3) 7.9 (105.7)
Total provision for income taxes 16.2 36.4 43.1 (259.4)
NET INCOME (LOSS) (4,463.8) (23.6) 181.8 (4,857.6)
NET (INCOME) LOSS ATTRIBUTABLE TO NONCONTROLLING INTERESTS (3.2) (3.8) (5.3) 2.1
NET INCOME (LOSS) ATTRIBUTABLE TO VALARIS $ (4,467.0) $ (27.4) $ 176.5 $ (4,855.5)
EARNINGS (LOSS) PER SHARE        
Basic $ (22.38) $ (0.37) $ 2.35 $ (24.42)
Diluted $ (22.38) $ (0.37) $ 2.33 $ (24.42)
WEIGHTED-AVERAGE SHARES OUTSTANDING        
Basic 199,600 75,000 75,100 198,900
Diluted 199,600 75,000 75,600 198,900