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Segment Information (Tables)

12 Months Ended

Dec. 31, 2024

Segment Reporting Information, Revenue for Reportable Segment [Abstract]

Schedule Of Segment Reporting Information

			Floaters						Jackups						ARO						Other						Reconciling Items						Consolidated Total
Operating revenues:
Revenues (exclusive of reimbursable revenues)			$	1,382.8					$	686.5					$	512.5					$	142.6					$	(512.5)					$	2,211.9
Reimbursable revenues			57.9						68.4						—						24.4						—						150.7
Total operating revenues			1,440.7						754.9						512.5						167.0						(512.5)						2,362.6
Operating expenses:
Contract drilling expenses (exclusive of depreciation and reimbursable expenses)			930.3						477.1						367.7						63.6						(220.2)						1,618.5
Reimbursable expenses			54.9						64.3						—						23.2						—						142.4
Total contract drilling (exclusive of depreciation)			985.2						541.4						367.7						86.8						(220.2)						1,760.9
Loss on impairment			—						—						28.4						—						(28.4)						—
Depreciation			58.1						45.0						89.2						9.5						(79.7)						122.1
General and administrative			—						—						23.7						—						92.6						116.3
Equity in losses of ARO			—						—						—						—						(11.0)						(11.0)
Operating income			$	397.4					$	168.5					$	3.5					$	70.7					$	(287.8)					$	352.3
Property and equipment, net			$	1,174.2					$	575.3					$	1,253.1					$	132.8					$	(1,202.5)					$	1,932.9
Capital expenditures			$	239.7					$	213.1					$	285.0					$	—					$	(282.7)					$	455.1

Year Ended December 31, 2023

			Floaters						Jackups						ARO						Other						Reconciling Items						Consolidated Total
Operating revenues:
Revenues (exclusive of reimbursable revenues)			$	902.8					$	620.6					$	496.6					$	152.6					$	(496.6)					$	1,676.0
Reimbursable revenues			45.9						39.0						—						23.3						—						108.2
Total operating revenues			948.7						659.6						496.6						175.9						(496.6)						1,784.2
Operating expenses:
Contract drilling expenses (exclusive of depreciation and reimbursable expenses)			768.4						480.4						365.9						52.6						(226.9)						1,440.4
Reimbursable expenses			43.6						37.0						—						22.6						—						103.2
Total 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

			Floaters						Jackups						ARO						Other						Reconciling Items						Consolidated Total
Operating revenues:
Revenues (exclusive of reimbursable revenues)			$	649.3					$	713.4					$	459.5					$	134.6					$	(459.5)					$	1,497.3
Reimbursable revenues			51.2						30.8						—						23.2						—						105.2
Total operating revenues			700.5						744.2						459.5						157.8						(459.5)						1,602.5
Operating expenses:
Contract drilling expenses (exclusive of depreciation and reimbursable expenses)			598.3						509.4						341.8						54.1						(219.9)						1,283.7
Reimbursable expenses			47.7						29.5						—						22.3						—						99.5
Total 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

Schedule Of Geographic Distribution Of Rigs By Segment

As of December 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						6						7						16						9
North & South America			9						7						—						16						—
Europe			4						11						—						15						—
Asia & Pacific Rim			2						4						—						6						—
Total			18						28						7						53						9

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,
			2024						2023
Spain			$	484.8					$	438.9
Brazil			413.9						374.5
United States			314.3						206.5
United Kingdom			290.4						277.8
Other countries(1)			514.0						410.7
Total			$	2,017.4					$	1,708.4

(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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