$VAL
Valaris Ltd

2024 Q1 Form 10-K Financial Statement

#000031480824000014 Filed on February 22, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $525.0M $483.8M $1.784B
YoY Change 22.06% 11.58% 11.34%
Cost Of Revenue $444.8M $1.544B
YoY Change 17.92% 11.6%
Gross Profit $80.20M $240.6M
YoY Change 51.61% 9.71%
Gross Profit Margin 15.28% 13.49%
Selling, General & Admin $26.50M $24.30M $99.30M
YoY Change 8.61% 1.67% 22.74%
% of Gross Profit 33.04% 41.27%
Research & Development $444.8M $402.0M $1.544B
YoY Change 17.92% 13.75% 11.6%
% of Gross Profit 554.61% 641.56%
Depreciation & Amortization $26.80M $27.50M $101.1M
YoY Change 15.02% 15.55% 10.86%
% of Gross Profit 33.42% 42.02%
Operating Expenses $498.1M $453.8M $1.744B
YoY Change 17.23% 13.14% 26.08%
Operating Profit $29.30M $53.50M
YoY Change 244.71% 43.82%
Interest Expense $5.700M $13.80M $45.80M
YoY Change -62.5% 1.47% 2.46%
% of Operating Profit 19.45% 85.61%
Other Income/Expense, Net $9.100M -$5.500M $30.70M
YoY Change -27.2% 12.24% -83.64%
Pretax Income $38.40M $38.30M $84.20M
YoY Change 82.86% -6.36% -62.56%
Income Tax $12.90M -$790.2M -$782.6M
% Of Pretax Income 33.59% -2063.19% -929.45%
Net Earnings $25.50M $835.2M $865.4M
YoY Change -45.4% 2760.27% 390.31%
Net Earnings / Revenue 4.86% 172.63% 48.5%
Basic Earnings Per Share $0.35 $11.68
Diluted Earnings Per Share $0.35 $11.30 $11.51
COMMON SHARES
Basic Shares Outstanding 72.41M shares 72.90M shares 74.10M shares
Diluted Shares Outstanding 73.60M shares 75.20M shares

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $494.1M $620.5M $620.5M
YoY Change -39.93% -14.31% -14.31%
Cash & Equivalents $494.1M $620.5M $620.5M
Short-Term Investments
Other Short-Term Assets $177.6M $177.2M $192.4M
YoY Change 12.33% 19.25% 11.21%
Inventory
Prepaid Expenses $16.60M $23.60M
Receivables $510.9M $459.3M $459.3M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.198B $1.272B $1.272B
YoY Change -14.18% -5.5% -5.5%
LONG-TERM ASSETS
Property, Plant & Equipment $1.732B $1.634B $1.634B
YoY Change 70.59% 67.19% 67.19%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $126.8M $124.4M $124.4M
YoY Change 10.84% 11.97% 11.97%
Other Assets $153.6M $154.4M $1.010B
YoY Change -6.8% -10.13% 487.6%
Total Long-Term Assets $3.157B $3.050B $3.050B
YoY Change 102.92% 101.44% 101.44%
TOTAL ASSETS
Total Short-Term Assets $1.198B $1.272B $1.272B
Total Long-Term Assets $3.157B $3.050B $3.050B
Total Assets $4.354B $4.322B $4.322B
YoY Change 47.55% 51.11% 51.11%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $394.2M $400.1M $400.1M
YoY Change 21.63% 55.98% 55.98%
Accrued Expenses $366.5M $344.2M $344.2M
YoY Change 221.77% 38.85% 38.85%
Deferred Revenue $122.3M $116.2M
YoY Change 85.87% 48.97%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $760.7M $744.3M $744.3M
YoY Change 28.54% 47.56% 47.56%
LONG-TERM LIABILITIES
Long-Term Debt $1.080B $1.079B $1.079B
YoY Change 98.99% 98.99% 98.99%
Other Long-Term Liabilities $451.7M $471.7M $471.7M
YoY Change -2.78% -8.51% -8.51%
Total Long-Term Liabilities $1.532B $1.551B $1.551B
YoY Change 52.05% 46.6% 46.6%
TOTAL LIABILITIES
Total Short-Term Liabilities $760.7M $744.3M $744.3M
Total Long-Term Liabilities $1.532B $1.551B $1.551B
Total Liabilities $2.324B $2.325B $2.325B
YoY Change 45.33% 48.82% 48.82%
SHAREHOLDERS EQUITY
Retained Earnings $1.051B $1.026B
YoY Change 408.22% 540.54%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.021B $1.988B $1.997B
YoY Change
Total Liabilities & Shareholders Equity $4.354B $4.322B $4.322B
YoY Change 47.55% 51.11% 51.11%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income $25.50M $835.2M $865.4M
YoY Change -45.4% 2760.27% 390.31%
Depreciation, Depletion And Amortization $26.80M $27.50M $101.1M
YoY Change 15.02% 15.55% 10.86%
Cash From Operating Activities $26.30M $96.70M $267.5M
YoY Change -82.66% -37.41% 109.8%
INVESTING ACTIVITIES
Capital Expenditures $151.3M $463.0M $696.1M
YoY Change 168.74% 759.0% 236.28%
Acquisitions
YoY Change
Other Investing Activities $0.00 $1.100M $30.30M
YoY Change -100.0% -99.51% -84.08%
Cash From Investing Activities -$151.3M -$461.9M -$665.8M
YoY Change 169.22% -372.35% 3886.83%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $198.6M
YoY Change
Debt Paid & Issued, Net $571.8M
YoY Change
Cash From Financing Activities -$1.600M -56.40M $285.5M
YoY Change -4560.94%
NET CHANGE
Cash From Operating Activities $26.30M 96.70M $267.5M
Cash From Investing Activities -$151.3M -461.9M -$665.8M
Cash From Financing Activities -$1.600M -56.40M $285.5M
Net Change In Cash -$126.6M -421.6M -$112.8M
YoY Change -232.57% -230.08% -208.57%
FREE CASH FLOW
Cash From Operating Activities $26.30M $96.70M $267.5M
Capital Expenditures $151.3M $463.0M $696.1M
Free Cash Flow -$125.0M -$366.3M -$428.6M
YoY Change -231.03% -464.12% 439.12%

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us-gaap Income Loss From Equity Method Investments
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us-gaap Repayments Of Long Term Debt
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us-gaap Payments For Repurchase Of Common Stock
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us-gaap Payments For Repurchase Of Common Stock
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us-gaap Payments Of Debt Issuance Costs
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CY2023 us-gaap Payments Related To Tax Withholding For Share Based Compensation
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CY2023 val Payment For Debt Solicitation Fees
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CY2022 val Payment For Debt Solicitation Fees
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us-gaap Proceeds From Payments For Other Financing Activities
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103900000 usd
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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370200000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2023 val Number Of Contract Drilling Rigs
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CY2023 val Warranted Period Exercisable
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CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
75100000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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CY2023 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
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CY2022 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
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us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
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CY2023 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
75200000 shares
CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
75600000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
75000000.0 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
199600000 shares
CY2023 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
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CY2022 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
600000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
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CY2023Q4 us-gaap Class Of Warrant Or Right Outstanding
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131.88
CY2021Q2 us-gaap Debtor Reorganization Items Discharge Of Claims And Liabilities
DebtorReorganizationItemsDischargeOfClaimsAndLiabilities
7100000000 usd
CY2021Q2 val Plan Of Reorganization Percent Of Subscription Rights
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CY2023 val Warranted Period Exercisable
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CY2023Q4 us-gaap Debtor In Possession Financing Borrowings Outstanding
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CY2020Q4 val Liabilities Subject To Compromise Accrued Interest On Notes
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us-gaap Contractual Interest Expense On Prepetition Liabilities Not Recognized In Statement Of Operations
ContractualInterestExpenseOnPrepetitionLiabilitiesNotRecognizedInStatementOfOperations
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CY2022 us-gaap Debtor Reorganization Items Legal And Advisory Professional Fees
DebtorReorganizationItemsLegalAndAdvisoryProfessionalFees
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us-gaap Debtor Reorganization Items Legal And Advisory Professional Fees
DebtorReorganizationItemsLegalAndAdvisoryProfessionalFees
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us-gaap Debtor Reorganization Items Legal And Advisory Professional Fees
DebtorReorganizationItemsLegalAndAdvisoryProfessionalFees
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CY2022 us-gaap Debtor Reorganization Items Provision For Expected Allowed Claims
DebtorReorganizationItemsProvisionForExpectedAllowedClaims
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us-gaap Debtor Reorganization Items Provision For Expected Allowed Claims
DebtorReorganizationItemsProvisionForExpectedAllowedClaims
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us-gaap Debtor Reorganization Items Provision For Expected Allowed Claims
DebtorReorganizationItemsProvisionForExpectedAllowedClaims
3900000 usd
CY2022 val Debtor Reorganization Items Reorganization Items Fees
DebtorReorganizationItemsReorganizationItemsFees
2400000 usd
val Debtor Reorganization Items Reorganization Items Fees
DebtorReorganizationItemsReorganizationItemsFees
15500000 usd
val Debtor Reorganization Items Reorganization Items Fees
DebtorReorganizationItemsReorganizationItemsFees
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CY2022 us-gaap Debtor Reorganization Items Net Gain Loss On Rejection Of Leases And Other Executory Contracts1
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us-gaap Debtor Reorganization Items Net Gain Loss On Rejection Of Leases And Other Executory Contracts1
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us-gaap Debtor Reorganization Items Net Gain Loss On Rejection Of Leases And Other Executory Contracts1
DebtorReorganizationItemsNetGainLossOnRejectionOfLeasesAndOtherExecutoryContracts1
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CY2022 val Backstop Commitment Agreement Backstop Premium
BackstopCommitmentAgreementBackstopPremium
0 usd
val Backstop Commitment Agreement Backstop Premium
BackstopCommitmentAgreementBackstopPremium
0 usd
val Backstop Commitment Agreement Backstop Premium
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30000000.0 usd
CY2022 us-gaap Debtor Reorganization Items Gain Loss On Settlement Of Other Claims Net1
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0 usd
us-gaap Debtor Reorganization Items Gain Loss On Settlement Of Other Claims Net1
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0 usd
us-gaap Debtor Reorganization Items Gain Loss On Settlement Of Other Claims Net1
DebtorReorganizationItemsGainLossOnSettlementOfOtherClaimsNet1
6139000000 usd
CY2022 val Debtor Reorganization Items Issuance Of Equity Backstop Premium
DebtorReorganizationItemsIssuanceOfEquityBackstopPremium
0 usd
val Debtor Reorganization Items Issuance Of Equity Backstop Premium
DebtorReorganizationItemsIssuanceOfEquityBackstopPremium
0 usd
val Debtor Reorganization Items Issuance Of Equity Backstop Premium
DebtorReorganizationItemsIssuanceOfEquityBackstopPremium
29100000 usd
CY2022 val Debtor Reorganization Items Issuance Of Common Shares To The Shipyard
DebtorReorganizationItemsIssuanceOfCommonSharesToTheShipyard
0 usd
val Debtor Reorganization Items Issuance Of Common Shares To The Shipyard
DebtorReorganizationItemsIssuanceOfCommonSharesToTheShipyard
0 usd
val Debtor Reorganization Items Issuance Of Common Shares To The Shipyard
DebtorReorganizationItemsIssuanceOfCommonSharesToTheShipyard
5400000 usd
CY2022 val Debtor Reorganization Items Share Based Compensation Expense
DebtorReorganizationItemsShareBasedCompensationExpense
0 usd
val Debtor Reorganization Items Share Based Compensation Expense
DebtorReorganizationItemsShareBasedCompensationExpense
0 usd
val Debtor Reorganization Items Share Based Compensation Expense
DebtorReorganizationItemsShareBasedCompensationExpense
16000000.0 usd
CY2022 val Debtor Reorganization Items Contract For Property Plant And Equipment
DebtorReorganizationItemsContractForPropertyPlantAndEquipment
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val Debtor Reorganization Items Contract For Property Plant And Equipment
DebtorReorganizationItemsContractForPropertyPlantAndEquipment
0 usd
val Debtor Reorganization Items Contract For Property Plant And Equipment
DebtorReorganizationItemsContractForPropertyPlantAndEquipment
350700000 usd
CY2022 val Debtor Reorganization Items Loss On Fresh Start Adjustments
DebtorReorganizationItemsLossOnFreshStartAdjustments
0 usd
val Debtor Reorganization Items Loss On Fresh Start Adjustments
DebtorReorganizationItemsLossOnFreshStartAdjustments
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val Debtor Reorganization Items Loss On Fresh Start Adjustments
DebtorReorganizationItemsLossOnFreshStartAdjustments
9194600000 usd
CY2022 val Debtor Reorganization Items Non Cash
DebtorReorganizationItemsNonCash
0 usd
val Debtor Reorganization Items Non Cash
DebtorReorganizationItemsNonCash
0 usd
val Debtor Reorganization Items Non Cash
DebtorReorganizationItemsNonCash
3487300000 usd
CY2022 us-gaap Reorganization Items
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2400000 usd
us-gaap Reorganization Items
ReorganizationItems
15500000 usd
us-gaap Reorganization Items
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CY2022 val Debtor Reorganization Items Items Fees Paid
DebtorReorganizationItemsItemsFeesPaid
2400000 usd
val Debtor Reorganization Items Items Fees Paid
DebtorReorganizationItemsItemsFeesPaid
14700000 usd
val Debtor Reorganization Items Items Fees Paid
DebtorReorganizationItemsItemsFeesPaid
59000000.0 usd
CY2022 val Debtor Reorganization Items Items Fees Unpaid
DebtorReorganizationItemsItemsFeesUnpaid
0 usd
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DebtorReorganizationItemsItemsFeesUnpaid
800000 usd
val Debtor Reorganization Items Items Fees Unpaid
DebtorReorganizationItemsItemsFeesUnpaid
38300000 usd
CY2021Q2 us-gaap Reorganization Value
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1860000000 usd
CY2021Q2 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2021Q2 us-gaap Long Term Debt Fair Value
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CY2021Q2 us-gaap Minority Interest
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CY2021Q2 us-gaap Other Postretirement Defined Benefit Plan Liabilities Noncurrent
OtherPostretirementDefinedBenefitPlanLiabilitiesNoncurrent
189000000.0 usd
CY2021Q2 us-gaap Other Liabilities
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639000000.0 usd
CY2021Q2 val Stockholders Equity Attributable To Parent Successor
StockholdersEquityAttributableToParentSuccessor
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CY2021Q2 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
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CY2021Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
14.39
CY2021Q2 us-gaap Reorganization Value
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1860000000 usd
CY2021Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
607600000 usd
CY2021Q2 val Non Interest Bearing Liabilities Current
NonInterestBearingLiabilitiesCurrent
346000000.0 usd
CY2021Q2 val Adjustments Not Contemplated In The Enterprise Value
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CY2021Q2 us-gaap Assets
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CY2021Q2 us-gaap Defined Benefit Plan Assumptions Used Calculating Benefit Obligation Discount Rate
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DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostExpectedLongTermReturnOnAssets
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CY2021Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
607600000 usd
CY2021Q2 us-gaap Restricted Cash
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88400000 usd
CY2021Q2 us-gaap Receivables Net Current
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CY2021Q2 us-gaap Other Assets Current
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90500000 usd
CY2021Q2 us-gaap Assets Current
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CY2021Q2 us-gaap Property Plant And Equipment Net
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CY2021Q2 us-gaap Other Receivable After Allowance For Credit Loss Noncurrent
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228300000 usd
CY2021Q2 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
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80500000 usd
CY2021Q2 us-gaap Other Assets Noncurrent
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165300000 usd
CY2021Q2 us-gaap Assets
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CY2021Q2 us-gaap Accounts Payable Current
AccountsPayableCurrent
174100000 usd
CY2021Q2 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
216500000 usd
CY2021Q2 us-gaap Liabilities Current
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390600000 usd
CY2021Q2 us-gaap Long Term Debt
LongTermDebt
544800000 usd
CY2021Q2 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
565400000 usd
CY2021Q2 val Liabilities Not Subject To Compromise
LiabilitiesNotSubjectToCompromise
1500800000 usd
CY2021Q2 us-gaap Liabilities Subject To Compromise
LiabilitiesSubjectToCompromise
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CY2021Q2 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
16400000 usd
CY2021Q2 val Predecessor Additional Paid In Capital
PredecessorAdditionalPaidInCapital
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CY2021Q2 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
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CY2021Q2 us-gaap Retained Earnings Accumulated Deficit
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CY2021Q2 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
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CY2021Q2 us-gaap Treasury Stock Value
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CY2021Q2 us-gaap Stockholders Equity
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CY2021Q2 us-gaap Minority Interest
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CY2021Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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CY2021Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
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CY2021Q2 val Prepaid Rent Per Rig
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CY2021Q2 val Class Of Warrant Exercisable
ClassOfWarrantExercisable
5600000 shares
CY2021Q2 val Class Of Warrant Exercisable
ClassOfWarrantExercisable
5600000 shares
CY2023 val Early Termination Fee Received
EarlyTerminationFeeReceived
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CY2023Q4 us-gaap Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
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CY2022Q4 us-gaap Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
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CY2023Q4 us-gaap Contract With Customer Asset Net Noncurrent
ContractWithCustomerAssetNetNoncurrent
4500000 usd
CY2022Q4 us-gaap Contract With Customer Asset Net Noncurrent
ContractWithCustomerAssetNetNoncurrent
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CY2023Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
116200000 usd
CY2022Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
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CY2023Q4 us-gaap Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
37600000 usd
CY2022Q4 us-gaap Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
41000000.0 usd
CY2021Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
300000 usd
CY2021Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
56600000 usd
CY2022 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
9200000 usd
CY2022 val Increase In Contract Liability Due To Revenue Deferred During The Period
IncreaseInContractLiabilityDueToRevenueDeferredDuringThePeriod
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CY2022 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
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CY2022 val Contractwith Customer Liability Revenue Recognized Added During Period
ContractwithCustomerLiabilityRevenueRecognizedAddedDuringPeriod
-47100000 usd
CY2022 us-gaap Contract With Customer Asset Reclassified To Receivable
ContractWithCustomerAssetReclassifiedToReceivable
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CY2022 val Contract With Customer Liability Reclassified To Payable
ContractWithCustomerLiabilityReclassifiedToPayable
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CY2022Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
5300000 usd
CY2022Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
119000000.0 usd
CY2023 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
8400000 usd
CY2023 val Increase In Contract Liability Due To Revenue Deferred During The Period
IncreaseInContractLiabilityDueToRevenueDeferredDuringThePeriod
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CY2023 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
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CY2023 val Contractwith Customer Liability Revenue Recognized Added During Period
ContractwithCustomerLiabilityRevenueRecognizedAddedDuringPeriod
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CY2023 us-gaap Contract With Customer Asset Reclassified To Receivable
ContractWithCustomerAssetReclassifiedToReceivable
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CY2023 val Contract With Customer Liability Reclassified To Payable
ContractWithCustomerLiabilityReclassifiedToPayable
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CY2023Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
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CY2023Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
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CY2023Q4 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
116200000 usd
CY2023Q4 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
24700000 usd
CY2023Q4 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
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CY2023Q4 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
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CY2023Q4 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
153800000 usd
CY2023Q4 val Capitalized Contract Cost Amortization Expense Next Fiscal Year
CapitalizedContractCostAmortizationExpenseNextFiscalYear
75300000 usd
CY2023Q4 val Capitalized Contract Cost Amortization Expense Year Two
CapitalizedContractCostAmortizationExpenseYearTwo
15900000 usd
CY2023Q4 val Capitalized Contract Cost Amortization Expense Year Three
CapitalizedContractCostAmortizationExpenseYearThree
8100000 usd
CY2023Q4 val Capitalized Contract Cost Amortization Expense Year Fourand Thereafter
CapitalizedContractCostAmortizationExpenseYearFourandThereafter
300000 usd
CY2023Q4 us-gaap Capitalized Contract Cost Net
CapitalizedContractCostNet
99600000 usd
CY2023Q4 val Number Of Jackups Leased To Aro
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CY2023 val Contracts Terms For Aro Owned Rigs
ContractsTermsForAROOwnedRigs
P15Y
CY2020 val Order Period
OrderPeriod
P10Y
CY2023 val Minimum Renewal Contract Terms For New Build Rigs
MinimumRenewalContractTermsForNewBuildRigs
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CY2023 val Shareholder Notes Payable Term
ShareholderNotesPayableTerm
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CY2023Q4 us-gaap Variable Interest Entity Entity Maximum Loss Exposure Amount
VariableInterestEntityEntityMaximumLossExposureAmount
343500000 usd
CY2022Q4 us-gaap Variable Interest Entity Entity Maximum Loss Exposure Amount
VariableInterestEntityEntityMaximumLossExposureAmount
317900000 usd
CY2023Q4 us-gaap Property Plant And Equipment Gross
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1889000000 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
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CY2022Q2 us-gaap Asset Impairment Charges
AssetImpairmentCharges
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CY2021Q1 us-gaap Asset Impairment Charges
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InterestExpenseOther
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CY2023 us-gaap Interest Costs Capitalized
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CY2022 us-gaap Interest Expense Other
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CY2022 us-gaap Interest Costs Capitalized
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us-gaap Interest Expense Other
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us-gaap Interest Expense Other
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CY2023 us-gaap Amortization Of Debt Discount Premium
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CY2022 us-gaap Amortization Of Debt Discount Premium
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us-gaap Amortization Of Debt Discount Premium
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500000 usd
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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CY2022 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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CY2022 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
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CY2023 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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CY2023 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
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CY2021Q2 us-gaap Capital Units Authorized
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CY2021Q2 us-gaap Common Stock Shares Authorized
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CY2021Q2 us-gaap Preferred Stock Shares Authorized
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CY2021Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
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CY2021Q2 us-gaap Common Stock Shares Issued
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CY2021Q2 us-gaap Class Of Warrant Or Right Outstanding
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5600000 shares
CY2021Q2 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
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131.88
CY2023 val Warranted Period Exercisable
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CY2022Q3 us-gaap Weighted Average Number Of Shares Common Stock Subject To Repurchase Or Cancellation
WeightedAverageNumberOfSharesCommonStockSubjectToRepurchaseOrCancellation
100000000 shares
CY2023Q2 us-gaap Stock Repurchase Program Authorized Amount1
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300000000 usd
CY2023 us-gaap Treasury Stock Shares Acquired
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CY2023 us-gaap Treasury Stock Value Acquired Cost Method
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200000000 usd
CY2023 us-gaap Treasury Stock Acquired Average Cost Per Share
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66.77
CY2022 us-gaap Treasury Stock Shares Acquired
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CY2022 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
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us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
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CY2023 us-gaap Allocated Share Based Compensation Expense Net Of Tax
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CY2022 us-gaap Allocated Share Based Compensation Expense Net Of Tax
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us-gaap Allocated Share Based Compensation Expense Net Of Tax
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CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.61
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.61
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ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
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CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
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CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
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CY2022Q4 us-gaap Defined Benefit Plan Accumulated Other Comprehensive Income Before Tax
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CY2023 us-gaap Allocated Share Based Compensation Expense
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us-gaap Allocated Share Based Compensation Expense
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CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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CY2022Q4 us-gaap Defined Benefit Plan Benefit Obligation
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CY2021Q4 us-gaap Defined Benefit Plan Benefit Obligation
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CY2023 us-gaap Defined Benefit Plan Interest Cost
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CY2022 us-gaap Defined Benefit Plan Interest Cost
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CY2023 us-gaap Defined Benefit Plan Actuarial Gain Loss
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CY2022 us-gaap Defined Benefit Plan Actuarial Gain Loss
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CY2022 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
3000000.0 usd
us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
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us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
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CY2023 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
73600000 usd
CY2022 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
4500000 usd
us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
20200000 usd
us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
200000 usd
CY2023 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
41800000 usd
CY2022 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
16500000 usd
us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
6600000 usd
us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
0 usd
CY2023 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
13400000 usd
CY2022 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
11200000 usd
us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
6900000 usd
us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
12600000 usd
CY2023 val Unrecognized Tax Benefits Foreign Currency Translation Gain Loss Arising During Period
UnrecognizedTaxBenefitsForeignCurrencyTranslationGainLossArisingDuringPeriod
600000 usd
CY2022 val Unrecognized Tax Benefits Foreign Currency Translation Gain Loss Arising During Period
UnrecognizedTaxBenefitsForeignCurrencyTranslationGainLossArisingDuringPeriod
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val Unrecognized Tax Benefits Foreign Currency Translation Gain Loss Arising During Period
UnrecognizedTaxBenefitsForeignCurrencyTranslationGainLossArisingDuringPeriod
-10500000 usd
val Unrecognized Tax Benefits Foreign Currency Translation Gain Loss Arising During Period
UnrecognizedTaxBenefitsForeignCurrencyTranslationGainLossArisingDuringPeriod
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CY2023 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
3400000 usd
CY2022 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
1000000.0 usd
us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
4500000 usd
us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
0 usd
CY2023Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
201400000 usd
CY2022Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
217600000 usd
CY2021Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
235100000 usd
CY2021Q2 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
235400000 usd
CY2023Q4 us-gaap Unrecognized Tax Benefits Interest On Income Taxes Accrued
UnrecognizedTaxBenefitsInterestOnIncomeTaxesAccrued
52300000 usd
CY2022Q4 us-gaap Unrecognized Tax Benefits Interest On Income Taxes Accrued
UnrecognizedTaxBenefitsInterestOnIncomeTaxesAccrued
87800000 usd
CY2023 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
35400000 usd
CY2022 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
12500000 usd
us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
20300000 usd
us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
13500000 usd
CY2023Q4 val Change In Unrecognized Tax Benefits From Lapse Of Applicable Statutes Of Limitations Inclusive Of Interest And Penalties
ChangeInUnrecognizedTaxBenefitsFromLapseOfApplicableStatutesOfLimitationsInclusiveOfInterestAndPenalties
77300000 usd
CY2022Q4 val Change In Unrecognized Tax Benefits From Lapse Of Applicable Statutes Of Limitations Inclusive Of Interest And Penalties
ChangeInUnrecognizedTaxBenefitsFromLapseOfApplicableStatutesOfLimitationsInclusiveOfInterestAndPenalties
4500000 usd
CY2021Q4 val Change In Unrecognized Tax Benefits From Lapse Of Applicable Statutes Of Limitations Inclusive Of Interest And Penalties
ChangeInUnrecognizedTaxBenefitsFromLapseOfApplicableStatutesOfLimitationsInclusiveOfInterestAndPenalties
17900000 usd
CY2021Q2 val Change In Unrecognized Tax Benefits From Lapse Of Applicable Statutes Of Limitations Inclusive Of Interest And Penalties
ChangeInUnrecognizedTaxBenefitsFromLapseOfApplicableStatutesOfLimitationsInclusiveOfInterestAndPenalties
200000 usd
CY2023Q4 us-gaap Undistributed Earnings Of Foreign Subsidiaries
UndistributedEarningsOfForeignSubsidiaries
298200000 usd
CY2020 val Order Period
OrderPeriod
P10Y
CY2023Q4 val Percentage Of Down Payment Paid For Aro Newbuilds
PercentageOfDownPaymentPaidForARONewbuilds
25
CY2023Q4 val Aro Rigs Under Construction
ARORigsUnderConstruction
2 jackup
CY2023Q4 val Maximum Contingent Contributions To Joint Venture
MaximumContingentContributionsToJointVenture
1250000000 usd
CY2023Q4 val Max.Amount By Which Val Commitment To Aro Will Be Reduced With Each Rig Delivery
Max.AmountByWhichVALCommitmentToAROWillBeReducedWithEachRigDelivery
250000000 usd
CY2023Q4 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
128800000 usd
CY2023Q4 us-gaap Deposit Liabilities Collateral Issued Financial Instruments
DepositLiabilitiesCollateralIssuedFinancialInstruments
12600000 usd
CY2023Q3 us-gaap Loss Contingency Damages Sought Value
LossContingencyDamagesSoughtValue
601000000 brl
CY2023Q3 us-gaap Loss Contingency Damages Sought Value
LossContingencyDamagesSoughtValue
124000000 usd
CY2019Q4 us-gaap Litigation Settlement Amount Awarded From Other Party
LitigationSettlementAmountAwardedFromOtherParty
200000000 usd
CY2023 us-gaap Operating Lease Cost
OperatingLeaseCost
24600000 usd
CY2022 us-gaap Operating Lease Cost
OperatingLeaseCost
13400000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
12900000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
9100000 usd
CY2023 us-gaap Short Term Lease Cost
ShortTermLeaseCost
13200000 usd
CY2022 us-gaap Short Term Lease Cost
ShortTermLeaseCost
15200000 usd
us-gaap Short Term Lease Cost
ShortTermLeaseCost
14300000 usd
us-gaap Short Term Lease Cost
ShortTermLeaseCost
6300000 usd
CY2023 us-gaap Variable Lease Cost
VariableLeaseCost
11300000 usd
CY2022 us-gaap Variable Lease Cost
VariableLeaseCost
1000000.0 usd
us-gaap Variable Lease Cost
VariableLeaseCost
1000000.0 usd
us-gaap Variable Lease Cost
VariableLeaseCost
700000 usd
CY2023 us-gaap Lease Cost
LeaseCost
49100000 usd
CY2022 us-gaap Lease Cost
LeaseCost
29600000 usd
us-gaap Lease Cost
LeaseCost
28200000 usd
us-gaap Lease Cost
LeaseCost
16100000 usd
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
74600000 usd
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
21000000.0 usd
CY2023Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
27200000 usd
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
9400000 usd
CY2023Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
48900000 usd
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
13800000 usd
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
76100000 usd
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
23200000 usd
CY2023Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P3Y7M6D
CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P5Y
CY2023Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0821
CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0748
CY2023 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
80300000 usd
CY2022 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
14700000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
900000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
5500000 usd
CY2023 us-gaap Operating Lease Payments
OperatingLeasePayments
26200000 usd
CY2022 us-gaap Operating Lease Payments
OperatingLeasePayments
14000000.0 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
11700000 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
7100000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
32400000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
20500000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
19100000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
10000000.0 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
2400000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
3700000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
88100000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
12000000.0 usd
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
76100000 usd
CY2023 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
4 reportable_segment
CY2023 us-gaap Revenues
Revenues
1784200000 usd
CY2023 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
1543600000 usd
CY2023 us-gaap Cost Of Goods And Services Sold Depreciation
CostOfGoodsAndServicesSoldDepreciation
101100000 usd
CY2023 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
99300000 usd
CY2023 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
13300000 usd
CY2023 us-gaap Operating Income Loss
OperatingIncomeLoss
53500000 usd
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1633800000 usd
CY2023 us-gaap Segment Expenditure Addition To Long Lived Assets
SegmentExpenditureAdditionToLongLivedAssets
696100000 usd
CY2022 us-gaap Revenues
Revenues
1602500000 usd
CY2022 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
1383200000 usd
CY2022 us-gaap Asset Impairment Charges
AssetImpairmentCharges
34500000 usd
CY2022 us-gaap Cost Of Goods And Services Sold Depreciation
CostOfGoodsAndServicesSoldDepreciation
91200000 usd
CY2022 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
80900000 usd
CY2022 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
24500000 usd
CY2022 us-gaap Operating Income Loss
OperatingIncomeLoss
37200000 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
977200000 usd
CY2022 us-gaap Segment Expenditure Addition To Long Lived Assets
SegmentExpenditureAdditionToLongLivedAssets
207000000.0 usd
us-gaap Revenues
Revenues
835000000.0 usd
us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
724100000 usd
us-gaap Cost Of Goods And Services Sold Depreciation
CostOfGoodsAndServicesSoldDepreciation
66100000 usd
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
58200000 usd
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
6100000 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
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CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
890900000 usd
us-gaap Segment Expenditure Addition To Long Lived Assets
SegmentExpenditureAdditionToLongLivedAssets
50200000 usd
us-gaap Revenues
Revenues
397400000 usd
CY2023Q4 us-gaap Other Deferred Costs Net
OtherDeferredCostsNet
75300000 usd
CY2022Q4 us-gaap Other Deferred Costs Net
OtherDeferredCostsNet
59100000 usd
us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
343800000 usd
us-gaap Asset Impairment Charges
AssetImpairmentCharges
756500000 usd
us-gaap Cost Of Goods And Services Sold Depreciation
CostOfGoodsAndServicesSoldDepreciation
159600000 usd
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
30700000 usd
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
3100000 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
-890100000 usd
CY2021Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
909100000 usd
us-gaap Segment Expenditure Addition To Long Lived Assets
SegmentExpenditureAdditionToLongLivedAssets
8700000 usd
CY2023Q4 val Number Of Jackups Leased To Aro
NumberOfJackupsLeasedToARO
8 rigs
CY2023Q4 val Total Number Of Contract Drilling Rigs
TotalNumberOfContractDrillingRigs
53 rigs
CY2023Q4 val Number Of Drilling Management Contracts
NumberOfDrillingManagementContracts
2 contract
CY2023Q4 us-gaap Income Tax Receivable
IncomeTaxReceivable
83200000 usd
CY2022Q4 us-gaap Income Tax Receivable
IncomeTaxReceivable
93600000 usd
CY2023Q4 us-gaap Other Receivables Gross Current
OtherReceivablesGrossCurrent
16200000 usd
CY2022Q4 us-gaap Other Receivables Gross Current
OtherReceivablesGrossCurrent
24600000 usd
CY2023Q4 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
474600000 usd
CY2022Q4 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
463900000 usd
CY2023Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
15300000 usd
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
14800000 usd
CY2023Q4 us-gaap Receivables Net Current
ReceivablesNetCurrent
459300000 usd
CY2022Q4 us-gaap Receivables Net Current
ReceivablesNetCurrent
449100000 usd
CY2023Q4 us-gaap Prepaid Taxes
PrepaidTaxes
49100000 usd
CY2022Q4 us-gaap Prepaid Taxes
PrepaidTaxes
44600000 usd
CY2023Q4 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
23600000 usd
CY2022Q4 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
17500000 usd
CY2023Q4 val Other Assets Other Current
OtherAssetsOtherCurrent
29200000 usd
CY2022Q4 val Other Assets Other Current
OtherAssetsOtherCurrent
27400000 usd
CY2023Q4 us-gaap Other Assets Current
OtherAssetsCurrent
177200000 usd
CY2022Q4 us-gaap Other Assets Current
OtherAssetsCurrent
148600000 usd
CY2023Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
116200000 usd
CY2022Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
78000000.0 usd
CY2023Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
76600000 usd
CY2022Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
55800000 usd
CY2023Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
52900000 usd
CY2022Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
41400000 usd
CY2023Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
27200000 usd
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
9400000 usd
CY2023Q4 val Accrued Claims
AccruedClaims
20400000 usd
CY2022Q4 val Accrued Claims
AccruedClaims
27200000 usd
CY2023Q4 us-gaap Interest Payable Current
InterestPayableCurrent
15400000 usd
CY2022Q4 us-gaap Interest Payable Current
InterestPayableCurrent
7600000 usd
CY2023Q4 val Liabilities Current Other
LiabilitiesCurrentOther
35500000 usd
CY2022Q4 val Liabilities Current Other
LiabilitiesCurrentOther
28500000 usd
CY2023Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
344200000 usd
CY2022Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
247900000 usd
CY2023Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
224000000.0 usd
CY2022Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
275000000.0 usd
CY2023Q4 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
141600000 usd
CY2022Q4 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
159800000 usd
CY2023Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
48900000 usd
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
13800000 usd
CY2023Q4 us-gaap Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
37600000 usd
CY2022Q4 us-gaap Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
41000000.0 usd
CY2023Q4 us-gaap Other Accrued Liabilities Noncurrent
OtherAccruedLiabilitiesNoncurrent
19600000 usd
CY2022Q4 us-gaap Other Accrued Liabilities Noncurrent
OtherAccruedLiabilitiesNoncurrent
9900000 usd
CY2023Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
471700000 usd
CY2022Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
499500000 usd
CY2023 us-gaap Cost Of Property Repairs And Maintenance
CostOfPropertyRepairsAndMaintenance
203300000 usd
CY2022 us-gaap Cost Of Property Repairs And Maintenance
CostOfPropertyRepairsAndMaintenance
175200000 usd
us-gaap Cost Of Property Repairs And Maintenance
CostOfPropertyRepairsAndMaintenance
76300000 usd
us-gaap Cost Of Property Repairs And Maintenance
CostOfPropertyRepairsAndMaintenance
48400000 usd
CY2023 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-29200000 usd
CY2022 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
0 usd
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
0 usd
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
0 usd
CY2023 us-gaap Gain Loss On Sale Of Properties
GainLossOnSaleOfProperties
28600000 usd
CY2022 us-gaap Gain Loss On Sale Of Properties
GainLossOnSaleOfProperties
141200000 usd
us-gaap Gain Loss On Sale Of Properties
GainLossOnSaleOfProperties
21200000 usd
us-gaap Gain Loss On Sale Of Properties
GainLossOnSaleOfProperties
6000000.0 usd
CY2023 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
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CY2022 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
12200000 usd
us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
8100000 usd
us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
13400000 usd
CY2023 us-gaap Net Periodic Defined Benefits Expense Reversal Of Expense Excluding Service Cost Component
NetPeriodicDefinedBenefitsExpenseReversalOfExpenseExcludingServiceCostComponent
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CY2022 us-gaap Net Periodic Defined Benefits Expense Reversal Of Expense Excluding Service Cost Component
NetPeriodicDefinedBenefitsExpenseReversalOfExpenseExcludingServiceCostComponent
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us-gaap Net Periodic Defined Benefits Expense Reversal Of Expense Excluding Service Cost Component
NetPeriodicDefinedBenefitsExpenseReversalOfExpenseExcludingServiceCostComponent
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us-gaap Net Periodic Defined Benefits Expense Reversal Of Expense Excluding Service Cost Component
NetPeriodicDefinedBenefitsExpenseReversalOfExpenseExcludingServiceCostComponent
5400000 usd
CY2023 us-gaap Other Nonoperating Expense
OtherNonoperatingExpense
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CY2022 us-gaap Other Nonoperating Expense
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us-gaap Other Nonoperating Expense
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us-gaap Other Nonoperating Expense
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CY2023 us-gaap Other Nonoperating Income Expense
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CY2022 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
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us-gaap Other Nonoperating Income Expense
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38100000 usd
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
25900000 usd
CY2023Q4 us-gaap Deposit Liabilities Collateral Issued Financial Instruments
DepositLiabilitiesCollateralIssuedFinancialInstruments
12600000 usd
CY2022Q4 us-gaap Deposit Liabilities Collateral Issued Financial Instruments
DepositLiabilitiesCollateralIssuedFinancialInstruments
24400000 usd
CY2023 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
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CY2022 us-gaap Increase Decrease In Accounts Receivable
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us-gaap Increase Decrease In Accounts Receivable
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18300000 usd
us-gaap Increase Decrease In Accounts Receivable
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CY2023 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
5900000 usd
CY2022 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
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us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
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us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
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CY2023 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
82800000 usd
CY2022 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-200000 usd
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
29300000 usd
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
38200000 usd
CY2023 us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
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CY2022 us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
6600000 usd
us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
-20000000.0 usd
us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
-77100000 usd
CY2023 us-gaap Interest Paid Net
InterestPaidNet
32300000 usd
CY2022 us-gaap Interest Paid Net
InterestPaidNet
44200000 usd
us-gaap Interest Paid Net
InterestPaidNet
22800000 usd
us-gaap Interest Paid Net
InterestPaidNet
0 usd
CY2023 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
-8300000 usd
CY2022 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
5600000 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
23500000 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
-16900000 usd
CY2023 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
71500000 usd
CY2022 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
22100000 usd
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
9300000 usd
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
6500000 usd
CY2023Q1 us-gaap Proceeds From Income Tax Refunds
ProceedsFromIncomeTaxRefunds
45900000 usd
CY2023 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
5600000 usd
CY2022 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
1200000 usd
us-gaap Interest Costs Capitalized
InterestCostsCapitalized
0 usd
us-gaap Interest Costs Capitalized
InterestCostsCapitalized
0 usd
CY2023Q4 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2023Q4 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2023Q4 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2023Q4 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2023 dei Auditor Name
AuditorName
KPMG LLP
CY2023 dei Auditor Location
AuditorLocation
Houston, Texas
CY2023 dei Auditor Firm
AuditorFirmId
185

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