v3.26.1
Condensed Consolidated Statements Of Operations - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Income Statement [Abstract]        
Revenues (exclusive of reimbursable revenues) $ 502.3 $ 572.3 $ 932.4 $ 1,150.1
Reimbursable revenues 36.9 42.9 72.2 85.8
Total operating revenues 539.2 615.2 1,004.6 1,235.9
OPERATING EXPENSES        
Contract Drilling Expenses Exclusive of Depreciation and Reimbursable Expenses 380.4 355.2 720.8 729.2
Reimbursable expenses 35.1 40.5 68.1 81.5
Total contract drilling expenses (exclusive of depreciation) 415.5 395.7 788.9 810.7
Depreciation 44.6 35.5 87.3 68.6
General and administrative 27.2 18.8 52.5 43.2
Business Combination, Acquisition-Related Cost, Expense 11.4 0.0 25.0 0.0
Other operating (income) loss 0.0 0.0 (2.8) 7.8
Total operating expenses 498.7 450.0 950.9 930.3
Equity in earnings of ARO (10.6) 1.1 (17.4) (1.5)
OPERATING INCOME 51.1 164.1 71.1 307.1
OTHER INCOME (EXPENSE)        
Interest income 16.3 15.1 33.3 29.5
Interest expense, net (24.0) (24.8) (48.3) (49.1)
Other, net 37.2 (8.7) 34.9 12.5
Total other income (expense) 29.5 (18.4) 19.9 (7.1)
INCOME BEFORE INCOME TAXES 80.6 145.7 91.0 300.0
PROVISION FOR INCOME TAXES        
Current income tax expense 22.4 28.0 41.3 51.7
Deferred income tax expense 11.2 3.5 20.7 173.3
Total provision for income taxes 33.6 31.5 62.0 225.0
Net income 47.0 114.2 29.0 75.0
NET LOSS ATTRIBUTABLE TO NONCONTROLLING INTERESTS 3.4 0.9 5.0 2.2
NET INCOME ATTRIBUTABLE TO VALARIS $ 50.4 $ 115.1 $ 34.0 $ 77.2
EARNINGS PER SHARE        
Basic (in dollars per share) $ 0.73 $ 1.62 $ 0.49 $ 1.09
Diluted (in dollars per share) $ 0.72 $ 1.61 $ 0.48 $ 1.08
WEIGHTED-AVERAGE SHARES OUTSTANDING        
Basic (in shares) 69.3 71.1 69.2 71.1
Diluted (in shares) 70.4 71.3 70.3 71.3