Impairments and Other Charges

12 Months Ended

Dec. 31, 2020

Impairments and Other Charges [Abstract]

Impairments and Other Charges

4. Impairments and Other Charges

We recorded the following in “Impairments and Other Charges” on the accompanying Consolidated Statements of Operations:

	Successor				Predecessor
			Period From		Period From
	Year		12/14/2019		1/1/2019
	Ended		through		through		Year Ended
(Dollars in millions)	12/31/2020		12/31/2019		12/13/2019		12/31/2018
Long-lived Asset Impairments	$	814	$	—	$	20	$	151
Goodwill Impairment	239		—		730		1,917
Inventory Charges	138		—		117		—
Asset Write-downs and Rigs Related Charges	11		—		132		58
Other Charges, Net	34		—		105		29
Total Impairment and Other Charges	$	1,236	$	—	$	1,104	$	2,155

We recognized long-lived asset and goodwill impairments as further described in “Note 10 – Long-Lived Asset Impairments” and “Note 11 – Goodwill and Intangible Assets”, respectively and inventory charges as further described in “Note 7 – Inventories, Net”. See also “Note 8 – Business Combinations and Divestitures.”