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Segment Information (Tables) | 3 Months Ended
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Mar. 31, 2024
Segment Reporting Information, Revenue for Reportable Segment [Abstract] |
Schedule Of Segment Reporting Information | Segment information for the three months ended March 31, 2024 and 2023, respectively, are presented below (in millions): Three Months Ended March 31, 2024
| Floaters |  | Jackups |  | ARO |  | Other |  | Reconciling Items |  |  | Consolidated Total
Revenues | $ | 324.4 |  |  | $ | 152.3 |  |  | $ | 138.3 |  |  | $ | 48.3 |  |  | $ | (138.3) |  |  |  | $ | 525.0 |
Operating expenses |  |  |  |  |  |  |  |  |  |  |  |
Contract drilling (exclusive of depreciation) | 253.4 |  |  | 133.9 |  |  | 98.3 |  |  | 22.2 |  |  | (63.0) |  |  |  | 444.8 |
Depreciation | 13.2 |  |  | 10.4 |  |  | 19.0 |  |  | 1.3 |  |  | (17.1) |  |  |  | 26.8 |
General and administrative | — |  |  | — |  |  | 5.8 |  |  | — |  |  | 20.7 |  |  |  | 26.5 |
Equity in earnings of ARO | — |  |  | — |  |  | — |  |  | — |  |  | 2.4 |  |  |  | 2.4 |
Operating income | $ | 57.8 |  |  | $ | 8.0 |  |  | $ | 15.2 |  |  | $ | 24.8 |  |  | $ | (76.5) |  |  |  | $ | 29.3 |
Property and equipment, net | $ | 1,080.6 |  |  | $ | 493.8 |  |  | $ | 1,050.1 |  |  | $ | 86.5 |  |  | $ | (978.7) |  |  |  | $ | 1,732.3 |
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 |
Schedule Of Geographic Distribution Of Rigs By Segment | As of March 31, 2024, the geographic distribution of our and ARO's drilling rigs was as follows:
| Floaters |  | Jackups |  | Other |  | Total Valaris |  | ARO
Middle East & Africa | 3 |  |  | 4 |  |  | 9 |  |  | 16 |  |  | 8 |
Europe | 4 |  |  | 12 |  |  | — |  |  | 16 |  |  | — |
North & South America | 9 |  |  | 7 |  |  | — |  |  | 16 |  |  | — |
Asia & Pacific Rim | 2 |  |  | 3 |  |  | — |  |  | 5 |  |  | — |
Total | 18 |  |  | 26 |  |  | 9 |  |  | 53 |  |  | 8 |

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