Below are the financial statements of Valaris, including the income statement and balance sheet for the company's latest fiscal year. All figures are accurate, verifiable, and fully traceable to the original annual filing where disclosed.
| All figures in millions of USD | 2024 | 2023 | 2022 |
|---|---|---|---|
| Operating revenues | — | — | — |
| Revenues (exclusive of reimbursable revenues) | 2,211.9a | 1,676a | 1,497.3a |
| Reimbursable revenues | 150.7a | 108.2a | 105.2a |
| Total operating revenues | 2,362.6a | 1,784.2a | 1,602.5a |
| Operating expenses | — | — | — |
| Contract drilling expenses (exclusive of depreciation and reimbursable expenses) | -1,618.5a | -1,440.4a | -1,283.7a |
| Reimbursable expenses | -142.4a | -103.2a | -99.5a |
| Total contract drilling expenses (exclusive of depreciation) | -1,760.9a | -1,543.6a | -1,383.2a |
| Loss on impairment | 0a | 0a | -34.5a |
| Depreciation | -122.1a | -101.1a | -91.2a |
| General and administrative | -116.3a | -99.3a | -80.9a |
| Total operating expenses | -1,999.3a | -1,744a | -1,589.8a |
| Equity in earnings (losses) of ARO | -11a | 13.3a | 24.5a |
| Operating income | 352.3a | 53.5a | 37.2a |
| Other income (expense) | — | — | — |
| Interest income | 86.1a | 101.4a | 65.5a |
| Interest expense, net | -84.8a | -68.9a | -45.3a |
| Other, net | 16.6a | -1.8a | 167.5a |
| Total other income | 17.9a | 30.7a | 187.7a |
| Income before income taxes | 370.2a | 84.2a | 224.9a |
| Provision (benefit) for income taxes | — | — | — |
| Current income tax expense (benefit) | -5.4a | -3.8a | -35.2a |
| Deferred income tax expense (benefit) | -5.8a | -786.4a | -7.9a |
| Total provision (benefit) for income taxes | -0.4a | -782.6a | -43.1a |
| Net income | 369.8a | 866.8a | 181.8a |
| Net (income) loss attributable to noncontrolling interests | 3.6a | -1.4a | -5.3a |
| Net income attributable to Valaris | 373.4a | 865.4a | 176.5a |
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