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Segment Information (Tables)

12 Months Ended

Dec. 31, 2023

Segment Reporting Information, Revenue for Reportable Segment [Abstract]

Schedule Of Segment Reporting Information

			Floaters						Jackups						ARO						Other						Reconciling Items						Consolidated Total
Revenues			$	948.7					$	659.6					$	496.6					$	175.9					$	(496.6)					$	1,784.2
Operating expenses
Contract drilling (exclusive of depreciation)			812.0						517.4						365.9						75.2						(226.9)						1,543.6
Depreciation			55.8						40.0						65.9						5.0						(65.6)						101.1
General and administrative			—						—						22.2						—						77.1						99.3
Equity in earnings of ARO			—						—						—						—						13.3						13.3
Operating income			$	80.9					$	102.2					$	42.6					$	95.7					$	(267.9)					$	53.5
Property and equipment, net			$	1,035.5					$	480.8					$	1,036.6					$	52.1					$	(971.2)					$	1,633.8
Capital expenditures			$	562.0					$	132.3					$	300.8					$	—					$	(299.0)					$	696.1

Year Ended December 31, 2022 (Successor)

			Floaters						Jackups						ARO						Other						Reconciling Items						Consolidated Total
Revenues			$	700.5					$	744.2					$	459.5					$	157.8					$	(459.5)					$	1,602.5
Operating expenses
Contract drilling (exclusive of depreciation)			646.0						538.9						341.8						76.4						(219.9)						1,383.2
Loss on impairment			34.5						—						—						—						—						34.5
Depreciation			50.0						36.1						63.4						4.6						(62.9)						91.2
General and administrative			—						—						18.7						—						62.2						80.9
Equity in earnings of ARO			—						—						—						—						24.5						24.5
Operating income (loss)			$	(30.0)					$	169.2					$	35.6					$	76.8					$	(214.4)					$	37.2
Property and equipment, net			$	487.5					$	391.7					$	775.6					$	56.8					$	(734.4)					$	977.2
Capital expenditures			$	152.9					$	53.5					$	103.7					$	—					$	(103.1)					$	207.0

Eight Months Ended December 31, 2021 (Successor)

			Floaters						Jackups						ARO						Other						Reconciling Items						Consolidated Total
Revenues			$	254.5					$	487.1					$	307.1					$	93.4					$	(307.1)					$	835.0
Operating expenses
Contract drilling (exclusive of depreciation)			250.7						365.2						246.2						38.9						(176.9)						724.1
Depreciation			31.0						32.0						44.2						2.8						(43.9)						66.1
General and administrative			—						—						13.6						—						44.6						58.2
Equity in earnings of ARO			—						—						—						—						6.1						6.1
Operating income (loss)			$	(27.2)					$	89.9					$	3.1					$	51.7					$	(124.8)					$	(7.3)
Property and equipment, net			$	408.2					$	401.9					$	730.6					$	46.0					$	(695.8)					$	890.9
Capital expenditures			$	26.0					$	23.7					$	41.8					$	—					$	(41.3)					$	50.2

Four Months Ended April 30, 2021 (Predecessor)

			Floaters						Jackups						ARO						Other						Reconciling Items						Consolidated Total
Revenues			$	115.7					$	232.4					$	163.5					$	49.3					$	(163.5)					$	397.4
Operating expenses
Contract drilling (exclusive of depreciation)			106.5						175.0						116.1						19.9						(73.7)						343.8
Loss on impairment			756.5						—						—						—						—						756.5
Depreciation			72.1						69.7						21.0						14.8						(18.0)						159.6
General and administrative			—						—						4.2						—						26.5						30.7
Equity in earnings of ARO			—						—						—						—						3.1						3.1
Operating income (loss)			$	(819.4)					$	(12.3)					$	22.2					$	14.6					$	(95.2)					$	(890.1)
Property and equipment, net			$	419.3					$	401.4					$	730.7					$	50.5					$	(692.8)					$	909.1
Capital expenditures			$	3.3					$	5.4					$	14.9					$	—					$	(14.9)					$	8.7

Schedule Of Geographic Distribution Of Rigs By Segment

As of December 31, 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						8
North & South America			9						7						—						16						—
Europe			4						12						—						16						—
Asia & Pacific Rim			2						3						—						5						—
Total			18						27						8						53						8

Schedule Of Revenues And Long-Lived Assets By Geographical Segment

Information by country for those countries that account for more than 10% of our long-lived assets, was as follows (in millions):

			Long-lived Assets
			December 31, 2023						December 31, 2022
Spain			$	438.9					$	117.7
Brazil			374.5						102.0
United Kingdom			277.8						185.2
United States			206.5						166.3
Other countries(1)			410.7						427.0
Total			$	1,708.4					$	998.2

(1)Other countries includes countries where individually we had long-lived assets representing less than 10% of total long-lived assets.

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