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Segment Information (Tables)

6 Months Ended

Jun. 30, 2023

Segment Reporting Information, Revenue for Reportable Segment [Abstract]

Schedule Of Segment Reporting Information

Segment information for the three and six months ended June 30, 2023 and 2022, respectively, are presented below (in millions):

Three Months Ended June 30, 2023

			Floaters						Jackups						ARO						Other						Reconciling Items									Consolidated Total
Revenues			$	227.4					$	144.6					$	117.8					$	43.2					$	(117.8)								$	415.2
Operating expenses
Contract drilling (exclusive of depreciation)			196.2						123.5						95.0						18.2						(59.4)									373.5
Depreciation			13.6						9.6						15.6						1.2						(15.5)									24.5
General and administrative			—						—						5.7						—						20.7									26.4
Equity in losses of ARO			—						—						—						—						(0.7)									(0.7)
Operating income (loss)			$	17.6					$	11.5					$	1.5					$	23.8					$	(64.3)								$	(9.9)
Property and equipment, net			$	552.3					$	418.4					$	838.8					$	54.5					$	(790.3)								$	1,073.7

Three Months Ended June 30, 2022

			Floaters						Jackups						ARO						Other						Reconciling Items									Consolidated Total
Revenues			$	188.1					$	185.8					$	116.4					$	39.4					$	(116.4)								$	413.3
Operating expenses
Contract drilling (exclusive of depreciation)			165.3						142.2						82.1						24.7						(52.5)									361.8
Loss on impairment			34.5						—						—						—						—									34.5
Depreciation			12.3						8.7						15.4						1.3						(15.4)									22.3
General and administrative			—						—						3.2						—						15.8									19.0
Equity in earnings of ARO			—						—						—						—						8.7									8.7
Operating income (loss)			$	(24.0)					$	34.9					$	15.7					$	13.4					$	(55.6)								$	(15.6)
Property and equipment, net			$	462.9					$	384.8					$	733.4					$	50.4					$	(699.8)								$	931.7

Six Months Ended June 30, 2023

			Floaters						Jackups						ARO						Other						Reconciling Items									Consolidated Total
Revenues			$	442.2					$	314.4					$	241.4					$	88.7					$	(241.4)								$	845.3
Operating expenses
Contract drilling (exclusive of depreciation)			370.8						272.4						185.9						38.4						(116.8)									750.7
Depreciation			26.6						18.6						30.6						2.5						(30.5)									47.8
General and administrative			—						—						10.3						—						40.5									50.8
Equity in earnings of ARO			—						—						—						—						2.6									2.6
Operating income (loss)			$	44.8					$	23.4					$	14.6					$	47.8					$	(132.0)								$	(1.4)
Property and equipment, net			$	552.3					$	418.4					$	838.8					$	54.5					$	(790.3)								$	1,073.7

Six Months Ended June 30, 2022

			Floaters						Jackups						ARO						Other						Reconciling Items									Consolidated Total
Revenues			$	287.8					$	366.5					$	227.7					$	77.4					$	(227.7)								$	731.7
Operating expenses
Contract drilling (exclusive of depreciation)			312.9						281.4						166.3						40.2						(107.7)									693.1
Loss on impairment			34.5						—						—						—						—									34.5
Depreciation			24.5						17.8						31.9						2.2						(31.6)									44.8
General and administrative			—						—						8.4						—						29.4									37.8
Equity in earnings of ARO			—						—						—						—						13.0									13.0
Operating income (loss)			$	(84.1)					$	67.3					$	21.1					$	35.0					$	(104.8)								$	(65.5)
Property and equipment, net			$	462.9					$	384.8					$	733.4					$	50.4					$	(699.8)								$	931.7

Schedule Of Geographic Distribution Of Rigs By Segment

As of June 30, 2023, the geographic distribution of our and ARO's drilling rigs was as follows:

			Floaters						Jackups						Other						Total Valaris						ARO
Middle East & Africa			3						5						8						16						7
Europe & the Mediterranean			3						12						—						15						—
North & South America			8						7						—						15						—
Asia & Pacific Rim			2						3						—						5						—
Total			16						27						8						51						7

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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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-Name Accounting Standards Codification
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-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

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