XML 49 R37.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Equity Method Investment In ARO - Summarized Financial Data (Details) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Dec. 31, 2023
Equity Method Investment, Summarized Financial Information, Income Statement [Abstract]          
OPERATING REVENUES $ 610.1 $ 415.2 $ 1,135.1 $ 845.3  
Depreciation expense 29.7 24.5 56.5 47.8  
General and administrative 32.5 26.4 59.0 50.8  
Operating Income (Loss) 108.9 (9.9) 138.2 (1.4)  
OTHER INCOME (EXPENSE), NET 11.9 7.1 21.0 19.6  
INCOME TAX PROVISION (30.0) 24.5 (17.1) (3.1)  
NET INCOME (LOSS) ATTRIBUTABLE TO VALARIS 149.6 (29.4) 175.1 17.3  
Equity Method Investment, Summarized Financial Information [Abstract]          
    Cash and cash equivalents 398.3   398.3   $ 620.5
    Other current assets 182.6   182.6   177.2
Total assets 4,415.6   4,415.6   4,322.2
Liabilities, Current 707.6   707.6   744.3
Total liabilities 2,228.2   2,228.2   2,325.2
Investment Owned, Balance [Abstract]          
Equity in earnings (losses) of ARO (0.3) (0.7) 2.1 2.6  
ARO          
Investment Owned, Balance [Abstract]          
50% interest in ARO net loss (3.4) (3.7) (4.2) (3.3)  
Amortization of basis differences 3.1 3.0 6.3 5.9  
Equity in earnings (losses) of ARO (0.3) (0.7) 2.1 2.6  
ARO          
Equity Method Investment, Summarized Financial Information, Income Statement [Abstract]          
OPERATING REVENUES 124.2 117.8 262.5 241.4  
Contract drilling (exclusive of depreciation) 94.1 95.0 192.4 185.9  
Depreciation expense 19.7 15.6 38.7 30.6  
General and administrative 5.5 5.7 11.3 10.3  
Operating Income (Loss) 4.9 1.5 20.1 14.6  
OTHER INCOME (EXPENSE), NET 13.4 8.8 26.5 19.2  
INCOME TAX PROVISION (1.8) 0.0 1.9 1.9  
NET INCOME (LOSS) ATTRIBUTABLE TO VALARIS (6.7) $ (7.3) (8.3) $ (6.5)  
Equity Method Investment, Summarized Financial Information [Abstract]          
    Cash and cash equivalents 131.7   131.7   92.9
    Other current assets 157.8   157.8   184.0
Non-current assets 1,214.4   1,214.4   1,081.0
Total assets 1,503.9   1,503.9   1,357.9
Liabilities, Current 173.2   173.2   136.0
Liabilities, Noncurrent 1,172.2   1,172.2   1,056.8
Total liabilities $ 1,345.4   $ 1,345.4   $ 1,192.8