XML 52 R41.htm IDEA: XBRL DOCUMENT
v3.25.2

Property, Plant, and Equipment Narrative (Details) - USD ($) $ in Millions | 1 Months Ended | 3 Months Ended | 6 Months Ended | 24 Months Ended
--- | --- | --- | --- | ---
Apr. 30, 2025 | Jun. 30, 2025 | Mar. 31, 2025 | Dec. 31, 2024 | Jun. 30, 2024 | Dec. 31, 2025 | Jun. 30, 2025 | Mar. 31, 2025 | Jun. 30, 2024 | Dec. 31, 2027
Property, Plant and Equipment [Line Items] |  |  |  |  |  |  |  |  |  |
Proceeds from disposition of assets |  |  |  |  |  |  | $ 27.6 |  | $ 0.1 |
Loss on impairment |  |  |  |  | $ 0.0 |  | 7.8 |  | 0.0 |
Proceeds from disposition of assets |  |  |  |  |  |  | 27.6 |  | 0.1 |
Loss on impairment |  |  |  |  | $ 0.0 |  | 7.8 |  | $ 0.0 |
Angola office |  |  |  |  |  |  |  |  |  |
Property, Plant and Equipment [Line Items] |  |  |  |  |  |  |  |  |  |
Gain (Loss) on Disposition of Other Assets |  |  | $ 4.0 |  |  |  |  |  |  |
Proceeds from disposition of assets |  |  | 2.7 | $ 2.5 |  |  |  | $ 5.2 |  |
Proceeds from disposition of assets |  |  | 2.7 | $ 2.5 |  |  |  | $ 5.2 |  |
Operating Segments | Jackups |  |  |  |  |  |  |  |  |  |
Property, Plant and Equipment [Line Items] |  |  |  |  |  |  |  |  |  |
Loss on impairment |  |  |  |  |  |  | 0.0 |  |  |
Loss on impairment |  |  |  |  |  |  | 0.0 |  |  |
Operating Segments | Floaters |  |  |  |  |  |  |  |  |  |
Property, Plant and Equipment [Line Items] |  |  |  |  |  |  |  |  |  |
Loss on impairment |  |  |  |  |  |  | 7.8 |  |  |
Loss on impairment |  |  |  |  |  |  | 7.8 |  |  |
V75 | Operating Segments | Jackups Member |  |  |  |  |  |  |  |  |  |
Property, Plant and Equipment [Line Items] |  |  |  |  |  |  |  |  |  |
Gain (Loss) on Disposition of Other Assets |  |  | 23.0 |  |  |  |  |  |  |
Proceeds from disposition of assets |  |  | 14.0 |  |  |  |  |  |  |
Proceeds from disposition of assets |  |  | $ 14.0 |  |  |  |  |  |  |
V75 | Operating Segments | Jackups Member | Subsequent Event |  |  |  |  |  |  |  |  |  |
Property, Plant and Equipment [Line Items] |  |  |  |  |  |  |  |  |  |
Proceeds from disposition of assets |  |  |  |  |  |  |  |  |  | $ 10.0
Proceeds from disposition of assets |  |  |  |  |  |  |  |  |  | $ 10.0
DPS-3, DPS-5 & DPS-6 | Operating Segments | Floaters |  |  |  |  |  |  |  |  |  |
Property, Plant and Equipment [Line Items] |  |  |  |  |  |  |  |  |  |
Proceeds from disposition of assets | $ 10.0 |  |  |  |  |  |  |  |  |
Loss on impairment |  | $ 0.0 |  |  |  |  | 7.8 |  |  |
Proceeds from disposition of assets | $ 10.0 |  |  |  |  |  |  |  |  |
Loss on impairment |  | $ 0.0 |  |  |  |  | $ 7.8 |  |  |
V247 | Operating Segments | Jackups Member | Subsequent Event |  |  |  |  |  |  |  |  |  |
Property, Plant and Equipment [Line Items] |  |  |  |  |  |  |  |  |  |
Gain (Loss) on Disposition of Other Assets |  |  |  |  |  | $ 87.0 |  |  |  |
Proceeds from disposition of assets |  |  |  |  |  | 108.0 |  |  |  |
Escrow Deposits Related to Property Sales |  |  |  |  |  | 21.5 |  |  |  |
Proceeds from disposition of assets |  |  |  |  |  | $ 108.0 |  |  |  |

X
- Definition Amount of write-down of assets recognized in the income statement. Includes, but is not limited to, losses from tangible assets, intangible assets and goodwill. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 45 -Paragraph 28 -Subparagraph (b) -SubTopic 10 -Topic 230 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482740/230-10-45-28 Reference 2: http://www.xbrl.org/2003/role/exampleRef -Topic 942 -SubTopic 10 -Name Accounting Standards Codification -Section S50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480095/942-10-S50-1 Reference 3: http://www.xbrl.org/2003/role/exampleRef -Topic 942 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480035/942-10-S99-6 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 45 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482130/360-10-45-4 + Details
Name: | us-gaap_AssetImpairmentCharges
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition Escrow deposits related to property sales in noncash investing and financing activities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482913/230-10-50-4 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482913/230-10-50-3 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482913/230-10-50-5 + Details
Name: | us-gaap_EscrowDepositsRelatedToPropertySales
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition Amount of gain (loss) on sale or disposal of other assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 230 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 28 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482740/230-10-45-28 + Details
Name: | us-gaap_GainLossOnSaleOfOtherAssets
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition The cash inflow from the sale of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 230 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 12 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482740/230-10-45-12 + Details
Name: | us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 7A -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147478964/842-20-50-7A + Details
Name: | us-gaap_PropertyPlantAndEquipmentLineItems
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | srt_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=val_AngolaOfficeBuildingMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | srt_ConsolidationItemsAxis=us-gaap_OperatingSegmentsMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_StatementBusinessSegmentsAxis=val_JackupsMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_StatementBusinessSegmentsAxis=val_FloatersMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | val_DrillingRigsAxis=val_V75Member
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_StatementBusinessSegmentsAxis=val_JackupsMemberMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_SubsequentEventTypeAxis=us-gaap_SubsequentEventMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | val_DrillingRigsAxis=val_DPS3DPS5DPS6Member
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | val_DrillingRigsAxis=val_V247Member
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |