XML 70 R56.htm IDEA: XBRL DOCUMENT v3.24.0.1
Equity Method Investment in ARO Equity Method Investment In ARO - Summarized Financial Data (Details) - USD ($)
$ in Millions
4 Months Ended 8 Months Ended 12 Months Ended
Apr. 30, 2021
Dec. 31, 2021
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Equity Method Investment, Summarized Financial Information, Income Statement [Abstract]          
OPERATING REVENUES $ 397.4 $ 835.0 $ 1,784.2 $ 1,602.5  
Depreciation 159.6 66.1 101.1 91.2  
General and administrative 30.7 58.2 99.3 80.9  
OPERATING INCOME (LOSS) (890.1) (7.3) 53.5 37.2  
Nonoperating Income (Expense) (3,557.5) 20.1 30.7 187.7  
Total provision for income taxes 16.2 36.4 (782.6) 43.1  
NET INCOME (LOSS) ATTRIBUTABLE TO VALARIS (4,467.0) (27.4) 865.4 176.5  
ASSETS          
Cash and cash equivalents 607.6   620.5 724.1  
Other 90.5   177.2 148.6  
TOTAL ASSETS 2,595.6   4,322.2 2,860.3  
Liabilities [Abstract]          
Liabilities, Current 390.6   744.3 504.4  
Liabilities     2,325.2 1,562.4  
Total assets     343.5 317.9  
Investment Owned, Balance [Abstract]          
EQUITY IN EARNINGS OF ARO 3.1 6.1 13.3 24.5  
ARO          
Related Party Transactions [Abstract]          
Lease Revenue From Related Party 21.7 35.4 69.2 56.7  
ARO          
Equity Method Investment, Summarized Financial Information, Income Statement [Abstract]          
OPERATING REVENUES     496.6 459.5 $ 470.6
Contract drilling (exclusive of depreciation)     365.9 341.8 362.3
Depreciation     65.9 63.4 65.2
General and administrative     22.2 18.7 17.8
OPERATING INCOME (LOSS)     42.6 35.6 25.3
Nonoperating Income (Expense)     31.8 11.1 13.4
Total provision for income taxes     8.3 3.8 7.9
NET INCOME (LOSS) ATTRIBUTABLE TO VALARIS     2.5 20.7 $ 4.0
ASSETS          
Cash and cash equivalents     92.9 176.2  
Other     184.0 140.6  
Assets, Noncurrent     1,081.0 818.1  
TOTAL ASSETS     1,357.9 1,134.9  
Liabilities [Abstract]          
Liabilities, Current     136.0 86.3  
Liabilities, Noncurrent     1,056.8 884.6  
Liabilities     1,192.8 970.9  
ARO | Assets, Total          
Liabilities [Abstract]          
Total assets     417.1 377.8  
ARO | Liabilities, Total          
Liabilities [Abstract]          
Total assets     73.6 59.9  
ARO          
Investment Owned, Balance [Abstract]          
50% interest in ARO net income (loss) 6.0 (4.0) 1.3 10.4  
Amortization of basis differences (2.9) 10.1 12.0 14.1  
EQUITY IN EARNINGS OF ARO $ 3.1 $ 6.1 $ 13.3 $ 24.5