$VAL
Valaris Ltd

2024 Q3 Form 10-Q Financial Statement

#000031480824000123 Filed on August 01, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $643.1M $610.1M
YoY Change 41.31% 46.94%
Cost Of Revenue $462.1M $438.7M
YoY Change 18.21% 17.46%
Gross Profit $181.0M $171.4M
YoY Change 181.93% 311.03%
Gross Profit Margin 28.14% 28.09%
Selling, General & Admin $30.60M $32.50M
YoY Change 26.45% 23.11%
% of Gross Profit 16.91% 18.96%
Research & Development $462.1M $438.7M
YoY Change 18.21% 17.46%
% of Gross Profit 255.3% 255.95%
Depreciation & Amortization $31.70M $29.70M
YoY Change 22.87% 21.22%
% of Gross Profit 17.51% 17.33%
Operating Expenses $524.4M $500.9M
YoY Change 18.94% 18.03%
Operating Profit $94.90M $108.9M
YoY Change 471.69% -1200.0%
Interest Expense -$28.70M $10.60M
YoY Change -317.42% 47.22%
% of Operating Profit -30.24% 9.73%
Other Income/Expense, Net -$7.700M $11.90M
YoY Change -169.37% 67.61%
Pretax Income $87.20M $120.8M
YoY Change 214.8% -4414.29%
Income Tax $24.30M -$30.00M
% Of Pretax Income 27.87% -24.83%
Net Earnings $64.60M $149.6M
YoY Change 400.78% -608.84%
Net Earnings / Revenue 10.05% 24.52%
Basic Earnings Per Share $0.89 $2.07
Diluted Earnings Per Share $0.88 $2.03
COMMON SHARES
Basic Shares Outstanding 72.75M shares 72.41M shares
Diluted Shares Outstanding 73.20M shares 73.70M shares

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $379.3M $398.3M
YoY Change -63.57% -49.41%
Cash & Equivalents $379.3M $398.3M
Short-Term Investments
Other Short-Term Assets $163.5M $182.6M
YoY Change -8.51% 8.24%
Inventory
Prepaid Expenses $22.00M $18.80M
Receivables $555.8M $533.6M
Other Receivables $0.00 $98.10M
Total Short-Term Assets $1.112B $1.225B
YoY Change -35.69% -15.39%
LONG-TERM ASSETS
Property, Plant & Equipment $1.843B $1.809B
YoY Change 58.87% 68.52%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $102.7M $126.5M
YoY Change -11.54% 11.26%
Other Assets $174.1M $154.8M
YoY Change -15.2% -16.59%
Total Long-Term Assets $3.222B $3.191B
YoY Change 83.43% 94.45%
TOTAL ASSETS
Total Short-Term Assets $1.112B $1.225B
Total Long-Term Assets $3.222B $3.191B
Total Assets $4.333B $4.416B
YoY Change 24.35% 42.97%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $303.7M $347.0M
YoY Change -19.31% -4.72%
Accrued Expenses $388.6M $140.0M
YoY Change 161.86% 32.45%
Deferred Revenue $107.6M $117.3M
YoY Change 4.06% 21.93%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $692.3M $707.6M
YoY Change -4.25% 7.39%
LONG-TERM LIABILITIES
Long-Term Debt $1.082B $1.081B
YoY Change 0.22% 58.53%
Other Long-Term Liabilities $404.4M $408.4M
YoY Change -16.19% -15.18%
Total Long-Term Liabilities $1.486B $1.489B
YoY Change -4.85% 28.02%
TOTAL LIABILITIES
Total Short-Term Liabilities $692.3M $707.6M
Total Long-Term Liabilities $1.486B $1.489B
Total Liabilities $2.210B $2.228B
YoY Change -3.3% 22.27%
SHAREHOLDERS EQUITY
Retained Earnings $1.265B $1.201B
YoY Change 564.84% 576.78%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.115B $2.177B
YoY Change
Total Liabilities & Shareholders Equity $4.333B $4.416B
YoY Change 24.35% 42.97%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income $64.60M $149.6M
YoY Change 400.78% -608.84%
Depreciation, Depletion And Amortization $31.70M $29.70M
YoY Change 22.87% 21.22%
Cash From Operating Activities $193.0M $11.50M
YoY Change 300.41% -139.52%
INVESTING ACTIVITIES
Capital Expenditures $81.90M $110.2M
YoY Change -22.59% 55.21%
Acquisitions
YoY Change
Other Investing Activities $100.0K $100.0K
YoY Change 0.0% -99.66%
Cash From Investing Activities -$81.80M -$110.1M
YoY Change -22.61% 162.14%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -129.3M -200.0K
YoY Change -141.78% -100.62%
NET CHANGE
Cash From Operating Activities 193.0M 11.50M
Cash From Investing Activities -81.80M -110.1M
Cash From Financing Activities -129.3M -200.0K
Net Change In Cash -18.10M -98.80M
YoY Change -107.18% 155.3%
FREE CASH FLOW
Cash From Operating Activities $193.0M $11.50M
Capital Expenditures $81.90M $110.2M
Free Cash Flow $111.1M -$98.70M
YoY Change -292.88% -1.4%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
700000000.0 usd
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
571800000 usd
val Income Tax Expense Benefit Excluding Discrete Items
IncomeTaxExpenseBenefitExcludingDiscreteItems
34400000 usd
CY2024Q2 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
0 usd
CY2024Q2 us-gaap Gain Loss On Sale Of Properties
GainLossOnSaleOfProperties
0 usd
CY2023Q2 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
373500000 usd
CY2023Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
26400000 usd
CY2023Q2 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-700000 usd
CY2023Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-9900000 usd
CY2023Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1073700000 usd
us-gaap Revenues
Revenues
1135100000 usd
us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
883500000 usd
us-gaap Cost Of Goods And Services Sold Depreciation
CostOfGoodsAndServicesSoldDepreciation
56500000 usd
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
59000000.0 usd
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
2100000 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
138200000 usd
CY2024Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1809400000 usd
us-gaap Revenues
Revenues
845300000 usd
us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
750700000 usd
us-gaap Cost Of Goods And Services Sold Depreciation
CostOfGoodsAndServicesSoldDepreciation
47800000 usd
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
50800000 usd
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
2600000 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
-1400000 usd
CY2023Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1073700000 usd
CY2024Q2 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
131.88
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
15500000 usd
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
7100000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
15400000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
12700000 usd
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
2100000 usd
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
2600000 usd
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
0 usd
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
0 usd
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
0 usd
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
31000000.0 usd
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-400000 usd
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-400000 usd
CY2024Q2 val Aro Rigs Under Construction
ARORigsUnderConstruction
2 drillship
val Shareholder Notes Payable Term
ShareholderNotesPayableTerm
P10Y
us-gaap Debt Instrument Basis Spread On Variable Rate1
DebtInstrumentBasisSpreadOnVariableRate1
0.0210
CY2024Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
2120700000 usd
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1889000000 usd
CY2024Q2 us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
7400000 usd
CY2023Q2 us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
7800000 usd
us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
14800000 usd
CY2024Q2 us-gaap Defined Benefit Plan Expected Return On Plan Assets
DefinedBenefitPlanExpectedReturnOnPlanAssets
7900000 usd
CY2023Q2 us-gaap Defined Benefit Plan Expected Return On Plan Assets
DefinedBenefitPlanExpectedReturnOnPlanAssets
7800000 usd
us-gaap Defined Benefit Plan Expected Return On Plan Assets
DefinedBenefitPlanExpectedReturnOnPlanAssets
15800000 usd
CY2024Q2 us-gaap Defined Benefit Plan Amortization Of Gains Losses
DefinedBenefitPlanAmortizationOfGainsLosses
200000 usd
CY2023Q2 us-gaap Defined Benefit Plan Amortization Of Gains Losses
DefinedBenefitPlanAmortizationOfGainsLosses
100000 usd
us-gaap Defined Benefit Plan Amortization Of Gains Losses
DefinedBenefitPlanAmortizationOfGainsLosses
400000 usd
CY2024Q2 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
-700000 usd
CY2023Q2 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
-100000 usd
us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
-1400000 usd
CY2024Q2 us-gaap Net Income Loss
NetIncomeLoss
149600000 usd
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
-29400000 usd
us-gaap Net Income Loss
NetIncomeLoss
175100000 usd
CY2024Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
72400000 shares
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
74800000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
72400000 shares
CY2024Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1300000 shares
CY2023Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1300000 shares
CY2024Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
73700000 shares
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
74800000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
73700000 shares
CY2024Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
146000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
129000 shares
CY2023Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1200000 shares
CY2024Q2 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
5470950 shares
CY2024Q2 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
300000 usd
CY2022Q3 srt Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
100000000 usd
CY2023Q2 srt Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
300000000 usd
CY2024Q1 srt Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
600000000.0 usd
us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
0 shares
CY2024Q2 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
0 shares
CY2023Q2 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
1100000 shares
us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
1100000 shares
CY2023Q2 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
65000000.0 usd
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
65000000.0 usd
CY2023Q2 us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
58.82
us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
58.82
CY2024Q2 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
400000000 usd
CY2024Q2 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
-63900000 usd
us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
-70500000 usd
CY2024Q2 val Income Tax Expense Benefit Excluding Discrete Items
IncomeTaxExpenseBenefitExcludingDiscreteItems
33900000 usd
val Income Tax Expense Benefit Excluding Discrete Items
IncomeTaxExpenseBenefitExcludingDiscreteItems
53400000 usd
CY2023Q2 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
6200000 usd
us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
-37500000 usd
CY2023Q2 val Income Tax Expense Benefit Excluding Discrete Items
IncomeTaxExpenseBenefitExcludingDiscreteItems
18300000 usd
CY2024Q2 val Numberof Newbuild Jackup Rigs
NumberofNewbuildJackupRigs
20 jackup
val Order Period
OrderPeriod
P10Y
CY2020Q1 val Percentage Of Down Payment Paid For Aro Newbuilds
PercentageOfDownPaymentPaidForARONewbuilds
0.25
CY2020Q1 val Number Of Aro Newbuild Rigs Delivered
NumberOfARONewbuildRigsDelivered
2 drillship
CY2024Q2 val Maximum Contingent Contributions To Joint Venture
MaximumContingentContributionsToJointVenture
1250000000 usd
CY2024Q2 val Max.Amount Of Va Ls Commitment To Aro For Newbuild Rigs
Max.AmountOfVALsCommitmentToAROForNewbuildRigs
250000000 usd
CY2024Q2 val Current Commitment To Aro For Newbuild Rigs After Delivery Of Nb1 And Nb2
CurrentCommitmentToAROForNewbuildRigsAfterDeliveryOfNB1AndNB2
1100000000 usd
CY2024Q2 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
142900000 usd
CY2024Q2 us-gaap Deposit Liabilities Collateral Issued Financial Instruments
DepositLiabilitiesCollateralIssuedFinancialInstruments
10400000 usd
CY2023Q3 us-gaap Loss Contingency Damages Sought Value
LossContingencyDamagesSoughtValue
601000000 brl
CY2024Q2 us-gaap Loss Contingency Damages Sought Value
LossContingencyDamagesSoughtValue
108000000 usd
CY2019Q4 us-gaap Litigation Settlement Amount Awarded From Other Party
LitigationSettlementAmountAwardedFromOtherParty
200000000 usd
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
4 reportable_segment
CY2024Q2 us-gaap Revenues
Revenues
610100000 usd
CY2024Q2 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
438700000 usd
CY2024Q2 us-gaap Cost Of Goods And Services Sold Depreciation
CostOfGoodsAndServicesSoldDepreciation
29700000 usd
CY2024Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
32500000 usd
CY2024Q2 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-300000 usd
CY2024Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
108900000 usd
CY2024Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1809400000 usd
CY2023Q2 us-gaap Revenues
Revenues
415200000 usd
CY2023Q2 us-gaap Cost Of Goods And Services Sold Depreciation
CostOfGoodsAndServicesSoldDepreciation
24500000 usd
CY2024Q2 val Total Number Of Contract Drilling Rigs
TotalNumberOfContractDrillingRigs
53
CY2024Q2 val Number Of Drilling Management Contracts
NumberOfDrillingManagementContracts
2 drillship
CY2024Q2 us-gaap Income Tax Receivable
IncomeTaxReceivable
85500000 usd
CY2023Q4 us-gaap Income Tax Receivable
IncomeTaxReceivable
83200000 usd
CY2024Q2 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
648600000 usd
CY2023Q4 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
474600000 usd
CY2024Q2 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
16900000 usd
CY2023Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
15300000 usd
CY2024Q2 us-gaap Receivables Net Current
ReceivablesNetCurrent
631700000 usd
CY2023Q4 us-gaap Receivables Net Current
ReceivablesNetCurrent
459300000 usd
CY2024Q2 us-gaap Other Deferred Costs Net
OtherDeferredCostsNet
75700000 usd
CY2023Q4 us-gaap Other Deferred Costs Net
OtherDeferredCostsNet
75300000 usd
CY2024Q2 us-gaap Prepaid Taxes
PrepaidTaxes
59600000 usd
CY2023Q4 us-gaap Prepaid Taxes
PrepaidTaxes
49100000 usd
CY2024Q2 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
18800000 usd
CY2023Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
23600000 usd
CY2024Q2 val Other Assets Other Current
OtherAssetsOtherCurrent
28500000 usd
CY2023Q4 val Other Assets Other Current
OtherAssetsOtherCurrent
29200000 usd
CY2024Q2 us-gaap Other Assets Current
OtherAssetsCurrent
182600000 usd
CY2023Q4 us-gaap Other Assets Current
OtherAssetsCurrent
177200000 usd
CY2024Q2 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
117300000 usd
CY2023Q4 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
116200000 usd
CY2024Q2 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
79500000 usd
CY2023Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
76600000 usd
CY2024Q2 us-gaap Taxes Payable Current
TaxesPayableCurrent
67600000 usd
CY2023Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
52900000 usd
CY2024Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
29300000 usd
CY2023Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
27200000 usd
CY2024Q2 us-gaap Workers Compensation Liability Current
WorkersCompensationLiabilityCurrent
15800000 usd
CY2023Q4 us-gaap Workers Compensation Liability Current
WorkersCompensationLiabilityCurrent
20400000 usd
CY2024Q2 us-gaap Interest Payable Current
InterestPayableCurrent
15400000 usd
CY2023Q4 us-gaap Interest Payable Current
InterestPayableCurrent
15400000 usd
CY2024Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
35700000 usd
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
35500000 usd
CY2024Q2 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
360600000 usd
CY2023Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
344200000 usd
CY2024Q2 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
146300000 usd
CY2023Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
224000000.0 usd
CY2024Q2 us-gaap Pension And Other Postretirement And Postemployment Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementAndPostemploymentBenefitPlansLiabilitiesNoncurrent
135200000 usd
CY2023Q4 us-gaap Pension And Other Postretirement And Postemployment Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementAndPostemploymentBenefitPlansLiabilitiesNoncurrent
141600000 usd
CY2024Q2 us-gaap Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
63000000.0 usd
CY2023Q4 us-gaap Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
37600000 usd
CY2024Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
42500000 usd
CY2023Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
48900000 usd
CY2024Q2 us-gaap Other Accrued Liabilities Noncurrent
OtherAccruedLiabilitiesNoncurrent
21400000 usd
CY2023Q4 us-gaap Other Accrued Liabilities Noncurrent
OtherAccruedLiabilitiesNoncurrent
19600000 usd
CY2024Q2 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
408400000 usd
CY2023Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
471700000 usd
CY2024Q2 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
2500000 usd
CY2023Q2 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-700000 usd
us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
7900000 usd
us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-200000 usd
CY2024Q2 us-gaap Net Periodic Defined Benefits Expense Reversal Of Expense Excluding Service Cost Component
NetPeriodicDefinedBenefitsExpenseReversalOfExpenseExcludingServiceCostComponent
-700000 usd
CY2023Q2 us-gaap Net Periodic Defined Benefits Expense Reversal Of Expense Excluding Service Cost Component
NetPeriodicDefinedBenefitsExpenseReversalOfExpenseExcludingServiceCostComponent
-100000 usd
us-gaap Net Periodic Defined Benefits Expense Reversal Of Expense Excluding Service Cost Component
NetPeriodicDefinedBenefitsExpenseReversalOfExpenseExcludingServiceCostComponent
-1400000 usd
us-gaap Net Periodic Defined Benefits Expense Reversal Of Expense Excluding Service Cost Component
NetPeriodicDefinedBenefitsExpenseReversalOfExpenseExcludingServiceCostComponent
-200000 usd
CY2023Q2 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-29200000 usd
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
0 usd
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-29200000 usd
CY2023Q2 us-gaap Gain Loss On Sale Of Properties
GainLossOnSaleOfProperties
27800000 usd
us-gaap Gain Loss On Sale Of Properties
GainLossOnSaleOfProperties
-100000 usd
us-gaap Gain Loss On Sale Of Properties
GainLossOnSaleOfProperties
27900000 usd
CY2024Q2 us-gaap Other Nonoperating Expense
OtherNonoperatingExpense
300000 usd
CY2023Q2 us-gaap Other Nonoperating Expense
OtherNonoperatingExpense
1200000 usd
us-gaap Other Nonoperating Expense
OtherNonoperatingExpense
100000 usd
us-gaap Other Nonoperating Expense
OtherNonoperatingExpense
1100000 usd
CY2024Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
3500000 usd
CY2023Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-800000 usd
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
9300000 usd
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-200000 usd
CY2024Q2 us-gaap Deposit Liabilities Collateral Issued Financial Instruments
DepositLiabilitiesCollateralIssuedFinancialInstruments
10400000 usd
CY2023Q4 us-gaap Deposit Liabilities Collateral Issued Financial Instruments
DepositLiabilitiesCollateralIssuedFinancialInstruments
12600000 usd
CY2024Q2 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2024Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false

Files In Submission

Name View Source Status
0000314808-24-000123-index-headers.html Edgar Link pending
0000314808-24-000123-index.html Edgar Link pending
0000314808-24-000123.txt Edgar Link pending
0000314808-24-000123-xbrl.zip Edgar Link pending
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R39.htm Edgar Link pending
R4.htm Edgar Link pending
R40.htm Edgar Link pending
R41.htm Edgar Link pending
R42.htm Edgar Link pending
R43.htm Edgar Link pending
R44.htm Edgar Link pending
R45.htm Edgar Link pending
R46.htm Edgar Link pending
R47.htm Edgar Link pending
R48.htm Edgar Link pending
R49.htm Edgar Link pending
R5.htm Edgar Link pending
R50.htm Edgar Link pending
R51.htm Edgar Link pending
R52.htm Edgar Link pending
R53.htm Edgar Link pending
R54.htm Edgar Link pending
R55.htm Edgar Link pending
R56.htm Edgar Link pending
R57.htm Edgar Link pending
R58.htm Edgar Link pending
R59.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending
val-06302024xexhibit101.htm Edgar Link pending
val-06302024xexhibit311.htm Edgar Link pending
val-06302024xexhibit312.htm Edgar Link pending
val-06302024xexhibit321.htm Edgar Link pending
val-06302024xexhibit322.htm Edgar Link pending
val-20240630.htm Edgar Link pending
val-20240630.xsd Edgar Link pending
val-20240630_cal.xml Edgar Link unprocessable
val-20240630_def.xml Edgar Link unprocessable
val-20240630_lab.xml Edgar Link unprocessable
val-20240630_pre.xml Edgar Link unprocessable
val-20240630_htm.xml Edgar Link completed
FilingSummary.xml Edgar Link unprocessable