Fresh Start Accounting (Tables)

12 Months Ended

Dec. 31, 2021

Reorganizations [Abstract]

Reconciliation of Enterprise Value to Estimated Fair Value of Successor Common Stock

The following table reconciles the enterprise value to the estimated fair value of our Successor common shares as of the Fresh Start Reporting Date:

(Dollars in millions)	Fresh Start Reporting Date
Enterprise Value	$	4,516
Plus: Cash and Cash Equivalents (includes $25 million cash collateral released from restricted cash on 12/17/19)	518
Less: Fair Value of Debt	(2,103)
Fair Value of Successor Equity as of December 13, 2019	$	2,931

The following table reconciles the enterprise value to the reorganization value of the Successor’s assets to be allocated to the Company’s individual assets as of the Fresh Start Reporting Date:

(Dollars in millions)	Fresh Start Reporting Date
Enterprise Value	$	4,516
Plus: Cash and Cash Equivalents (includes $25 million cash collateral released from restricted cash on 12/17/19)	518
Plus: Current Liabilities Excluding Short-term Borrowings and Current Portion of Long-term Debt	1,707
Plus: Non-current Liabilities Excluding Long-term Debt	627
Reorganization Value of Successor’s Assets to be Allocated	$	7,368