← Valaris Ltd
| Annual Trend | FY 2015 | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash flows from operating activities: | |||||||||||
| Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
| Net Income From Continuing Operations | — | — | — | — | — | — | $181.8m | $866.8m | $369.8m | $979.1m | |
| Net Income (Loss) Attributable to Parent | ($1.6b) | $890.2m | ($303.7m) | ($639.7m) | ($198.0m) | ($4.9b) | $176.5m | $865.4m | $373.4m | $982.8m | |
| Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | ($1.6b) | $897.1m | ($304.2m) | ($636.6m) | ($192.2m) | ($4.9b) | $181.8m | $866.8m | $369.8m | $979.1m | |
| Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent | ($1.5b) | $882.1m | ($304.7m) | ($631.6m) | ($198.0m) | ($4.9b) | — | — | — | — | |
| Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest | ($1.5b) | $889.0m | ($305.2m) | ($628.5m) | ($192.2m) | ($4.9b) | — | — | — | — | |
| Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest | ($128.6m) | $8.1m | $1.0m | ($8.1m) | $0 | $0 | — | — | — | — | |
| Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent | ($128.7m) | $8.1m | $1.0m | — | — | — | — | — | — | — | |
| Net Income (Loss) Attributable to Noncontrolling Interest | $8.9m | $6.9m | ($500k) | $3.1m | $5.8m | ($2.1m) | $5.3m | $1.4m | ($3.6m) | ($3.7m) | |
| Amortization | — | — | ($61.6m) | ($40.2m) | ($16.8m) | — | — | — | — | — | |
| Amortization of Deferred Charges | $2.6m | $4.1m | — | — | — | — | — | — | — | — | |
| Amortization of Intangible Assets | $41.4m | — | — | — | — | — | — | — | — | — | |
| Depreciation | — | — | — | — | — | $540.8m | $91.2m | $101.1m | $122.1m | $146.3m | |
| Depreciation, Nonproduction | — | — | — | — | — | — | — | $101.1m | $122.1m | $146.3m | |
| Depreciation expense | $572.5m | $445.3m | $444.8m | $478.9m | $609.7m | $540.8m | $91.2m | $101.1m | $122.1m | $146.3m | |
| Depreciation Amortization Depletion | — | — | — | — | — | — | $91.2m | $101.1m | $122.1m | $146.3m | |
| Deferred Income Tax Expense (Benefit) | ($158.0m) | $28.7m | $55.0m | $56.6m | $23.9m | ($105.7m) | $7.9m | ($786.4m) | $5.8m | ($515.1m) | |
| Deferred Income Tax | — | — | — | — | — | — | $7.9m | ($786.4m) | $5.8m | ($515.1m) | |
| Deferred Tax | — | — | — | — | — | — | $7.9m | ($786.4m) | $5.8m | ($515.1m) | |
| Share-based Payment Arrangement, Noncash Expense | $40.2m | $39.6m | $41.2m | $41.6m | $37.3m | $21.4m | $17.4m | $27.3m | $27.7m | $25.2m | |
| Payment, Tax Withholding, Share-based Payment Arrangement | — | — | — | — | — | $0 | $2.5m | $5.4m | $29.9m | $3.6m | |
| Share-based Payment Arrangement, Expense | — | — | — | — | — | — | $6.7m | $11.7m | $10.6m | $7.7m | |
| Share-based compensation expense | $40.2m | $39.6m | $41.2m | $41.6m | $37.3m | $21.4m | $17.4m | $27.3m | $27.7m | $25.2m | |
| Loss on impairment | $2.7b | $0 | $182.9m | $40.3m | $104.0m | $3.6b | $34.5m | $0 | $0 | $27.3m | |
| Asset Impairment Charge | — | — | — | — | — | — | $34.5m | $0 | $0 | $27.3m | |
| Gain (Loss) on Disposition of Assets | — | — | — | — | ($1.8m) | ($11.8m) | $141.2m | $28.6m | ($200k) | $118.6m | |
| Gain (Loss) on Extinguishment of Debt | ($33.5m) | $287.8m | ($2.6m) | ($19.0m) | $194.1m | $3.1m | $0 | ($29.2m) | $0 | $0 | |
| Income (Loss) from Equity Method Investments | $0 | $0 | $0 | $0 | ($12.6m) | ($7.8m) | $24.5m | $13.3m | ($11.0m) | $8.4m | |
| Income Tax Expense (Benefit) | ($13.9m) | $108.5m | $109.2m | $89.6m | $128.4m | ($259.4m) | $43.1m | ($782.6m) | $400k | ($426.8m) | |
| Other Nonoperating Income (Expense) | ($21.3m) | $283.2m | $134.4m | ($34.8m) | $1.0b | $4.2m | $169.9m | ($1.8m) | $16.6m | $103.3m | |
| Loss on extinguishment of debt | $33.5m | ($287.8m) | $2.6m | $19.0m | ($194.1m) | ($3.1m) | $0 | $29.2m | $0 | $0 | |
| Earnings (Loss)es From Equity Investments | — | — | — | — | — | — | ($24.5m) | ($13.3m) | $11.0m | ($8.4m) | |
| Changes in operating assets and liabilities: | |||||||||||
| Additional Financial Items | |||||||||||
| Increase (Decrease) in Accounts Receivable | ($269.5m) | ($222.3m) | ($83.2m) | $6.2m | ($29.5m) | ($53.3m) | $6.9m | ($44.9m) | $64.9m | ($119.2m) | |
| Foreign Currency Transaction Gain (Loss), before Tax | $5.4m | ($6.0m) | ($5.1m) | ($17.2m) | ($7.4m) | ($11.0m) | $12.2m | ($3.5m) | $13.8m | ($14.3m) | |
| Gain (Loss) on Sale of Properties | — | — | — | — | — | — | $141.2m | $28.6m | ($200k) | $118.6m | |
| General and Administrative Expense | $118.4m | $100.8m | $157.8m | $102.7m | $188.9m | $214.6m | $80.9m | $99.3m | $116.3m | $97.1m | |
| Goodwill | $0 | — | — | — | — | — | — | — | — | — | |
| Nonoperating Income (Expense) | ($227.7m) | $68.2m | ($64.0m) | ($303.0m) | $604.2m | ($794.3m) | $187.7m | $30.7m | $17.9m | $75.3m | |
| Operating Expenses | — | — | — | — | $1.8b | $1.5b | $1.4b | — | — | — | |
| Proceeds from Stock Options Exercised | $300k | — | — | — | — | — | — | — | — | — | |
| Accretion of discount on the Notes Receivable from ARO | — | — | — | — | $0 | $0 | $44.9m | $28.3m | $40.0m | $24.7m | |
| EQUITY IN EARNINGS (LOSSES) OF ARO | $0 | $0 | $12.6m | $7.8m | $24.5m | $13.3m | ($11.0m) | $8.4m | |||
| Increase (Decrease) in Deferred Charges | — | — | — | — | — | — | ($38.8m) | ($26.1m) | $39.3m | $16.1m | |
| Increase (Decrease) in Contract with Customer, Asset | — | — | — | — | — | — | — | $600k | ($1.0m) | ($10.3m) | |
| Increase (Decrease) in Contract with Customer, Liability | — | — | — | — | — | — | $62.4m | $4.9m | ($31.7m) | ($41.0m) | |
| Other | ($16.3m) | ($7.1m) | ($7.7m) | ($5.7m) | ($10.2m) | ($1.9m) | $0 | ($3.1m) | ($1.2m) | $0 | |
| Contributions to pension plans and other post-retirement benefits | — | — | $0 | $0 | ($13.2m) | ($12.1m) | ($4.1m) | ($6.7m) | ($21.5m) | ($16.6m) | |
| Proceeds from disposition of assets | $1.6m | $9.8m | $2.8m | $11.0m | $17.7m | $51.8m | $150.3m | $30.3m | $2.8m | $137.9m | |
| Reduction of long-term borrowings | ($1.1b) | ($863.9m) | ($537.0m) | ($771.2m) | ($928.1m) | ($9.7m) | $0 | ($571.8m) | $0 | $0 | |
| Beginning Cash Position | — | — | — | — | — | — | $644.6m | $748.5m | $635.7m | $380.5m | |
| Cash Flow From Continuing Financing Activities | — | — | — | — | — | — | ($6.4m) | $285.5m | ($158.3m) | ($103.6m) | |
| Cash Flow From Continuing Investing Activities | — | — | — | — | — | — | ($16.7m) | ($665.8m) | ($452.3m) | ($205.6m) | |
| Change In Other Current Assets | — | — | — | — | — | — | $500k | ($6.5m) | $23.4m | $2.6m | |
| Change In Other Current Liabilities | — | — | — | — | — | — | ($200k) | $82.8m | ($91.7m) | ($42.9m) | |
| Change In Receivables | — | — | — | — | — | — | ($6.9m) | $44.9m | ($64.9m) | $119.2m | |
| Change In Working Capital | — | — | — | — | — | — | ($6.6m) | $121.2m | ($133.2m) | $78.9m | |
| Changes In Account Receivables | — | — | — | — | — | — | ($6.9m) | $44.9m | ($64.9m) | $119.2m | |
| Changes In Cash | — | — | — | — | — | — | $103.9m | ($112.8m) | ($255.2m) | $237.0m | |
| End Cash Position | — | — | — | — | — | — | $748.5m | $635.7m | $380.5m | $617.5m | |
| Financing Cash Flow | — | — | — | — | — | — | ($6.4m) | $285.5m | ($158.3m) | ($103.6m) | |
| Free Cash Flow | — | — | — | — | — | — | ($80.0m) | ($428.6m) | ($99.7m) | $202.7m | |
| Gain Loss On Sale Of PPE | — | — | — | — | — | — | ($141.2m) | ($28.6m) | $200k | ($118.6m) | |
| Investing Cash Flow | — | — | — | — | — | — | ($16.7m) | ($665.8m) | ($452.3m) | ($205.6m) | |
| Net PPE Purchase And Sale | — | — | — | — | — | — | ($207.0m) | ($696.1m) | ($455.1m) | ($343.5m) | |
| Operating Gains Losses | — | — | — | — | — | — | ($182.1m) | ($12.7m) | $11.2m | ($127.0m) | |
| Other Non Cash Items | — | — | — | — | — | — | ($17.1m) | ($49.8m) | ($48.0m) | ($68.5m) | |
| Pension And Employee Benefit Expense | — | — | — | — | — | — | ($16.4m) | ($900k) | ($2.4m) | — | |
| Purchase Of PPE | — | — | — | — | — | — | ($207.0m) | ($696.1m) | ($455.1m) | ($343.5m) | |
| Repurchase Of Capital Stock | — | — | — | — | — | — | $0 | ($198.6m) | ($126.4m) | ($100.0m) | |
| Stock Based Compensation | — | — | — | — | — | — | $17.4m | $27.3m | $27.7m | $25.2m | |
| Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Settlement | — | — | — | — | — | $300k | $400k | $0 | $0 | — | |
| Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax | $4.3m | $1.1m | $400k | $1.0m | — | — | — | — | — | — | |
| Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Net of Tax | ($22.2m) | ($12.4m) | ($400k) | $1.0m | ($8.3m) | $11.6m | — | — | — | — | |
| Net Cash Provided by (Used in) Operating Activities | $1.7b | $1.1b | $259.4m | ($55.7m) | ($276.9m) | ($251.7m) | $127.5m | $267.5m | $355.4m | $546.2m | |
| Cash flows from investing activities: | |||||||||||
| Payments to Acquire Property, Plant, and Equipment | $1.6b | $322.2m | $536.7m | $426.7m | $227.0m | $93.8m | $207.0m | $696.1m | $455.1m | $343.5m | |
| Payments to Acquire Businesses, Net of Cash Acquired | — | — | $871.6m | $0 | $0 | — | — | — | — | — | |
| Net Investment Purchase And Sale | — | — | — | — | — | — | $0 | $0 | $0 | — | |
| Purchase Of Investment | — | — | — | — | — | — | ($220.0m) | $0 | $0 | — | |
| Sale Of Investment | — | — | — | — | — | — | $220.0m | $0 | $0 | — | |
| Payments for (Proceeds from) Other Investing Activities | — | — | — | — | $0 | — | — | — | — | — | |
| Net Other Investing Changes | — | — | — | — | — | — | $190.3m | $30.3m | $2.8m | $137.9m | |
| Net Cash Provided by (Used in) Investing Activities, Total | — | — | — | ($304.7m) | $1.1b | ($42.0m) | ($16.7m) | ($665.8m) | ($452.3m) | ($205.6m) | |
| Net Cash Provided by (Used in) Investing Activities | — | — | — | — | — | ($42.0m) | ($16.7m) | ($665.8m) | ($452.3m) | ($205.6m) | |
| Cash flows from financing activities: | |||||||||||
| Proceeds from Issuance of Long-Term Debt | — | — | — | — | — | — | $0 | $1.1b | $0 | $0 | |
| Payments of Debt Issuance Costs | ($10.5m) | ($23.4m) | ($12.0m) | ($17.0m) | $0 | $0 | $0 | ($38.6m) | ($800k) | $0 | |
| Issuance Of Debt | — | — | — | — | — | — | $0 | $1.1b | $0 | $0 | |
| Long Term Debt Issuance | — | — | — | — | — | — | $0 | $1.1b | $0 | $0 | |
| Net Issuance Payments Of Debt | — | — | — | — | — | — | $0 | $531.2m | $0 | $0 | |
| Net Long Term Debt Issuance | — | — | — | — | — | — | $0 | $531.2m | $0 | $0 | |
| Repayments of Long-term Debt | $1.1b | $863.9m | $537.0m | $771.2m | $928.1m | $9.7m | $0 | $571.8m | $0 | $0 | |
| Long Term Debt Payments | — | — | — | — | — | — | $0 | ($571.8m) | $0 | $0 | |
| Repayment Of Debt | — | — | — | — | — | — | $0 | ($571.8m) | $0 | $0 | |
| Net Common Stock Issuance | — | — | — | — | — | — | $0 | ($198.6m) | ($126.4m) | ($100.0m) | |
| Payments for Repurchase of Common Stock | — | — | — | — | — | — | $0 | $198.6m | $126.4m | $100.0m | |
| Payments of Ordinary Dividends, Common Stock | $141.2m | $11.6m | $13.8m | $17.9m | $4.5m | $0 | — | — | — | — | |
| Common Stock Payments | — | — | — | — | — | — | $0 | ($198.6m) | ($126.4m) | ($100.0m) | |
| Other Interest and Dividend Income | $9.9m | $13.8m | $25.8m | $14.5m | $28.1m | $19.7m | $65.5m | $101.4m | $86.1m | $70.8m | |
| Proceeds from (Payments for) Other Financing Activities | ($16.3m) | ($7.1m) | ($7.7m) | ($5.7m) | ($10.2m) | ($1.9m) | $0 | ($3.1m) | ($1.2m) | $0 | |
| Net Other Financing Charges | — | — | — | — | — | — | ($6.4m) | ($47.1m) | ($31.9m) | ($3.6m) | |
| Net Cash Provided by (Used in) Financing Activities | ($191.8m) | $529.0m | ($570.5m) | $188.2m | ($952.3m) | $522.2m | ($6.4m) | $285.5m | ($158.3m) | ($103.6m) | |
| Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | — | — | — | — | — | — | ($500k) | — | — | — | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | — | — | — | — | ($177.9m) | $228.6m | $103.9m | ($112.8m) | ($255.2m) | $237.0m | |
| INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH | ($714.3m) | ($170.3m) | ($177.9m) | $228.6m | $103.9m | ($112.8m) | ($255.2m) | $237.0m | |||
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | — | — | — | — | — | — | $748.5m | $635.7m | $380.5m | $617.5m | |
| CASH AND CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF PERIOD | $97.2m | $325.8m | $748.5m | $635.7m | $380.5m | $617.5m | |||||
| Supplemental disclosure of cash flow information: | |||||||||||
| Change In Cash Supplemental As Reported | — | — | — | — | — | — | $103.9m | ($112.8m) | ($255.2m) | $237.0m | |
| Interest Paid, Excluding Capitalized Interest, Operating Activities | $249.3m | — | $199.8m | $232.6m | $410.0m | $190.0m | $44.2m | $32.3m | $78.3m | $90.5m | |
| Income Taxes Paid, Net | — | — | — | — | — | — | $5.6m | ($8.3m) | $55.6m | $61.5m |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.