Valaris Ltd
For the period ended Mar 31, 2025. Filed May 1, 2025.
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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, 2025 · Filed May 1, 2025
VAL$78.92+0.5%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Balance Sheets March and December 31,
CONDENSED CONSOLIDATED BALANCE SHEETS
(In millions, except par value amounts)
| March 31,2025 | December 31,2024 | |
|---|---|---|
| (Unaudited) | ||
| ASSETS | ||
| CURRENT ASSETS | ||
| Cash and cash equivalents | $441.4 | $368.2 |
| Restricted cash | 12.3 | 12.3 |
| Accounts receivable, net | 557.7 | 571.2 |
| Assets held for sale | 7.0 | — |
| Other current assets | 139.4 | 127.0 |
| Total current assets | 1,157.8 | 1,078.7 |
| PROPERTY AND EQUIPMENT, AT COST | 2,381.6 | 2,309.4 |
| Less accumulated depreciation | 404.5 | 376.5 |
| Property and equipment, net | 1,977.1 | 1,932.9 |
| LONG-TERM NOTES RECEIVABLE FROM ARO | 302.3 | 296.2 |
| INVESTMENT IN ARO | 116.0 | 113.4 |
| DEFERRED TAX ASSETS | 679.0 | 849.5 |
| OTHER ASSETS | 154.6 | 149.1 |
| Total assets | $4,386.8 | $4,419.8 |
| LIABILITIES AND SHAREHOLDERS' EQUITY | ||
| CURRENT LIABILITIES | ||
| Accounts payable - trade | $329.3 | $328.5 |
| Accrued liabilities and other | 365.3 | 351.0 |
| Total current liabilities | 694.6 | 679.5 |
| LONG-TERM DEBT | 1,083.5 | 1,082.7 |
| DEFERRED TAX LIABILITIES | 29.4 | 30.1 |
| OTHER LIABILITIES | 367.8 | 383.2 |
| Total liabilities | 2,175.3 | 2,175.5 |
| COMMITMENTS AND CONTINGENCIES (Note 11) | ||
| VALARIS SHAREHOLDERS' EQUITY | ||
| Common Shares, $0.01 par value, 700.0 shares authorized, 76.3 and 76.2 shares issued, 71.1 and 71.0 shares outstanding as of March 31, 2025 and December 31, 2024, respectively | 0.8 | 0.8 |
| Preference shares, $0.01 par value, 150.0 shares authorized, no shares issued as of March 31, 2025 and December 31, 2024 | — | — |
| Stock warrants | 16.4 | 16.4 |
| Additional paid-in capital | 1,118.6 | 1,113.3 |
| Retained earnings | 1,361.0 | 1,398.9 |
| Accumulated other comprehensive income | 35.3 | 34.2 |
| Treasury shares, at cost, 5.2 shares as of March 31, 2025 and December 31, 2024 | (325.1) | (325.1) |
| Total Valaris shareholders' equity | 2,207.0 | 2,238.5 |
| NONCONTROLLING INTERESTS | 4.5 | 5.8 |
| Total shareholders' equity | 2,211.5 | 2,244.3 |
| Total liabilities and shareholders' equity | $4,386.8 | $4,419.8 |
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