Valaris Ltd
For the period ended Mar 31, 2024. Filed May 2, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 2, 2024
VAL$78.55-1.5%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Condensed Consolidated Balance Sheets
(In millions, except par value amounts)
| March 31,2024 | December 31,2023 | |
|---|---|---|
| (Unaudited) | ||
| ASSETS | ||
| CURRENT ASSETS | ||
| Cash and cash equivalents | $494.1 | $620.5 |
| Restricted cash | 15.0 | 15.2 |
| Accounts receivable, net | 510.9 | 459.3 |
| Other current assets | 177.6 | 177.2 |
| Total current assets | 1,197.6 | 1,272.2 |
| PROPERTY AND EQUIPMENT, AT COST | 2,014.0 | 1,889.0 |
| Less accumulated depreciation | 281.7 | 255.2 |
| Property and equipment, net | 1,732.3 | 1,633.8 |
| LONG-TERM NOTES RECEIVABLE FROM ARO | 289.3 | 282.3 |
| INVESTMENT IN ARO | 126.8 | 124.4 |
| DEFERRED TAX ASSETS | 854.8 | 855.1 |
| OTHER ASSETS | 153.6 | 154.4 |
| $4,354.4 | $4,322.2 | |
| LIABILITIES AND SHAREHOLDERS' EQUITY | ||
| CURRENT LIABILITIES | ||
| Accounts payable - trade | $394.2 | $400.1 |
| Accrued liabilities and other | 366.5 | 344.2 |
| Total current liabilities | 760.7 | 744.3 |
| LONG-TERM DEBT | 1,080.1 | 1,079.3 |
| DEFERRED TAX LIABILITIES | 31.6 | 29.9 |
| OTHER LIABILITIES | 451.7 | 471.7 |
| Total liabilities | 2,324.1 | 2,325.2 |
| COMMITMENTS AND CONTINGENCIES | ||
| VALARIS SHAREHOLDERS' EQUITY | ||
| Common shares, $0.01 par value, 700.0 shares authorized, 75.4 shares issued, 72.4 shares outstanding as of March 31, 2024 and December 31, 2023 | 0.8 | 0.8 |
| Preference shares, $0.01 par value, 150.0 shares authorized, no shares issued as of March 31, 2024 and December 31, 2023 | — | — |
| Stock warrants | 16.4 | 16.4 |
| Additional paid-in capital | 1,127.7 | 1,119.8 |
| Retained earnings | 1,051.0 | 1,025.5 |
| Accumulated other comprehensive income | 25.1 | 25.2 |
| Treasury shares, at cost, 3.0 shares as of March 31, 2024 and December 31, 2023 | (200.1) | (200.1) |
| Total Valaris shareholders' equity | 2,020.9 | 1,987.6 |
| NONCONTROLLING INTERESTS | 9.4 | 9.4 |
| Total equity | 2,030.3 | 1,997.0 |
| $4,354.4 | $4,322.2 | |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.