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Segment Information (Tables)

3 Months Ended

Mar. 31, 2023

Segment Reporting Information, Revenue for Reportable Segment [Abstract]

Schedule Of Segment Reporting Information

Segment information for the three months ended March 31, 2023 and 2022, respectively, are presented below (in millions).

Three Months Ended March 31, 2023

			Floaters						Jackups						ARO						Other						Reconciling Items									Consolidated Total
Revenues			$	214.8					$	169.8					$	123.6					$	45.5					$	(123.6)								$	430.1
Operating expenses
Contract drilling (exclusive of depreciation)			174.6						148.9						90.9						20.2						(57.4)									377.2
Depreciation			13.0						9.0						15.0						1.3						(15.0)									23.3
General and administrative			—						—						4.6						—						19.8									24.4
Equity in earnings of ARO			—						—						—						—						3.3									3.3
Operating income			$	27.2					$	11.9					$	13.1					$	24.0					$	(67.7)								$	8.5
Property and equipment, net			$	515.7					$	404.1					$	788.6					$	55.6					$	(748.5)								$	1,015.5

Three Months Ended March 31, 2022

			Floaters						Jackups						ARO						Other						Reconciling Items									Consolidated Total
Revenues			$	99.7					$	180.7					$	111.3					$	38.0					$	(111.3)								$	318.4
Operating expenses
Contract drilling (exclusive of depreciation)			147.6						139.2						84.2						15.5						(55.2)									331.3
Depreciation			12.2						9.1						16.5						0.9						(16.2)									22.5
General and administrative			—						—						5.2						—						13.6									18.8
Equity in earnings of ARO			—						—						—						—						4.3									4.3
Operating income (loss)			$	(60.1)					$	32.4					$	5.4					$	21.6					$	(49.2)								$	(49.9)
Property and equipment, net			$	457.6					$	387.1					$	730.9					$	51.7					$	(697.1)								$	930.2

Schedule Of Geographic Distribution Of Rigs By Segment

As of March 31, 2023, 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.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 25
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-25

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

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