SHAREHOLDERS’ DEFICIT

6 Months Ended

Jun. 30, 2023

Equity [Abstract]

SHAREHOLDERS’ DEFICIT

NOTE 17. SHAREHOLDERS’ DEFICIT

The following table presents a reconciliation of the beginning and ending balances in Total shareholders’ deficit for the three and six months ended June 30, 2023 (in thousands):

	Euro Deferred Shares		Ordinary Shares		Additional Paid-in Capital		Accumulated Deficit		Accumulated Other Comprehensive Loss		Total Shareholders’ Deficit
BALANCE, DECEMBER 31, 2022	$	43	$	24	$	8,969,322	$	(12,904,620)	$	(226,941)	$	(4,162,172)
Net loss	—		—		—		(3,279)		—		(3,279)
Other comprehensive income	—		—		—		—		607		607
Compensation related to share-based awards	—		—		11,240		—		—		11,240
Other	—		—		(1)		—		—		(1)
BALANCE, MARCH 31, 2023	$	43	$	24	$	8,980,561	$	(12,907,899)	$	(226,334)	$	(4,153,605)
Net income	—		—		—		23,438		—		23,438
Other comprehensive income	—		—		—		—		2,891		2,891
Other	1		—		—		—		—		1
BALANCE, JUNE 30, 2023	$	44	$	24	$	8,980,561	$	(12,884,461)	$	(223,443)	$	(4,127,275)

The following table presents a reconciliation of the beginning and ending balances in Total shareholders’ deficit for the three and six months ended June 30, 2022 (in thousands):

	Euro Deferred Shares		Ordinary Shares		Additional Paid-in Capital		Accumulated Deficit		Accumulated Other Comprehensive Loss		Total Shareholders’ Deficit
BALANCE, DECEMBER 31, 2021	$	45	$	23	$	8,953,906	$	(9,981,515)	$	(216,445)	$	(1,243,986)
Net loss	—		—		—		(71,974)		—		(71,974)
Other comprehensive income	—		—		—		—		1,895		1,895
Compensation related to share-based awards	—		—		4,929		—		—		4,929
Tax withholding for restricted shares	—		—		(1,863)		—		—		(1,863)
Other	(1)		1		1		—		—		1
BALANCE, MARCH 31, 2022	$	44	$	24	$	8,956,973	$	(10,053,489)	$	(214,550)	$	(1,310,998)
Net loss	—		—		—		(1,885,427)		—		(1,885,427)
Other comprehensive loss	—		—		—		—		(4,334)		(4,334)
Compensation related to share-based awards	—		—		2,721		—		—		2,721
Tax withholding for restricted shares	—		—		(31)		—		—		(31)
Other	(2)		—		(1)		—		—		(3)
BALANCE, JUNE 30, 2022	$	42	$	24	$	8,959,662	$	(11,938,916)	$	(218,884)	$	(3,198,072)

Share-Based Compensation

On March 3, 2023, in connection with the Company’s ongoing bankruptcy proceedings, the Company took action to reject all outstanding award agreements associated with stock options and stock awards. In connection with the rejection of these agreements, the Company recorded a charge of approximately $9.2 million during the first quarter of 2023 to recognize all remaining unrecognized compensation cost associated with these agreements. The Company recognized share-based compensation expense, inclusive of the charge described above, of $11.2 million during the six months ended June 30, 2023, and $2.7 million and $7.7 million during the three and six months ended June 30, 2022, respectively.