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Note 4 - Fresh Start Accounting - Unaudited Pro Forma Balance Sheet (Details)
$ in Thousands
Dec. 31, 2016
USD ($)
Cash and cash equivalents, predecessor $ 64,583
Cash and cash equivalents, reorganization adjustments 111,281 [1],[2],[3],[4],[5],[6]
Accounts receivable, predecessor 137,222
Inventories, net, predecessor 54,471
Prepaid and other current assets, predecessor 37,392
Deferred tax assets, predecessor 6,020
Total current assets, predecessor 299,688
Total current assets, reorganization adjustments 111,281
Property, plant and equipment, net, predecessor 950,811
Property, plant and equipment, net, fresh start adjustments (349,435) [7]
Intangible assets, net, predecessor 76,057
Intangible assets, net, fresh start adjustments (26,057) [7]
Deferred financing costs, predecessor
Deferred financing costs, reorganization adjustments 2,248 [1]
Other noncurrent assets, predecessor 35,045
Total assets, predecessor 1,361,601
Total assets, reorganization adjustments 113,529
Total assets, fresh start adjustments (375,492)
Accounts payable, predecessor 75,193
Payroll and related costs, predecessor 18,287
Accrued expenses, predecessor 59,129
DIP Facility, predecessor 25,000
DIP Facility, reorganization adjustments (25,000) [2]
Other current liabilities, predecessor 3,026
Total current liabilities, predecessor 180,635
Total current liabilities, reorganization adjustments (41,051)
Deferred tax liabilities, predecessor 15,613
Other long-term liabilities, predecessor 18,577
Total liabilities not subject to compromise, predecessor 214,825
Total liabilities not subject to compromise, reorganization adjustments (41,051)
Liabilities subject to compromise, predecessor 1,445,346
Liabilities subject to compromise, reorganization adjustments (1,445,346) [5],[6],[8]
Common stock, predecessor 1,195
Common stock, fresh start adjustments (1,195) [9]
Additional paid-in capital, predecessor 1,009,426
Additional paid-in capital, reorganization adjustments 925,309 [3],[8]
Additional paid-in capital, fresh start adjustments (1,009,426) [9]
Accumulated other comprehensive loss, predecessor (2,600)
Accumulated other comprehensive loss, fresh start adjustments 2,600 [9]
Retained earnings (deficit), predecessor (1,306,591)
Retained earnings (deficit), reorganization adjustments 674,062 [2],[4],[6],[8]
Retained earnings (deficit), fresh start adjustments 632,529 [7],[9]
Total shareholders' equity, predecessor (298,570)
Total shareholders' equity, reorganization adjustments 1,599,926
Total shareholders' equity, fresh start adjustments (375,492)
Total liabilities and shareholders' equity, predecessor 1,361,601
Total liabilities and shareholders' equity, reorganization adjustments 113,529
Total liabilities and shareholders' equity, fresh start adjustments (375,492)
Pro Forma [Member]  
Cash and cash equivalents, successor, pro forma 175,864
Accounts receivable, successor, pro forma 137,222
Inventories, net, successor, pro forma 54,471
Prepaid and other current assets, successor, pro forma 37,392
Deferred tax assets, successor, pro forma 6,020
Total current assets, successor, pro forma 410,969
Property, plant and equipment, net, successor, pro forma 601,376
Intangible assets, net, successor, pro forma 50,000
Deferred financing costs, successor, pro forma 2,248
Other noncurrent assets, successor, pro forma 35,045
Total assets, successor, pro forma 1,099,638
Accounts payable, successor, pro forma 75,193
Payroll and related costs, successor, pro forma 18,287
Accrued expenses, successor, pro forma 43,078
DIP Facility, successor, pro forma
Other current liabilities, successor, pro forma 3,026
Total current liabilities, successor, pro forma 139,584
Deferred tax liabilities, successor, pro forma 15,613
Other long-term liabilities, successor, pro forma 18,577
Total liabilities not subject to compromise, successor, pro forma 173,744
Liabilities subject to compromise, successor, pro forma
Common stock, successor, pro forma 555
Additional paid-in capital, successor, pro forma 925,309
Accumulated other comprehensive loss, successor, pro forma
Retained earnings (deficit), successor, pro forma
Total shareholders' equity, successor, pro forma 925,864
Total liabilities and shareholders' equity, successor, pro forma $ 1,099,638
[1] To record deferred loan costs associated with the closing of the New Credit Facility.
[2] To record repayment of DIP Facility and related accrued interest.
[3] To record the cash proceeds received from the $200 million rights offering.
[4] To record the estimated professional fees to be paid at emergence.
[5] To record the settlement of liabilities subject to compromise related to contract cures, 503(b)(9) claims and critical vendors.
[6] To record the settlement of liabilities subject to compromise related to the general unsecured creditors.
[7] To record the Fresh Start accounting adjustments based upon the individual net asset fair values.
[8] To record the discharge of indebtedness under the old Credit Agreement in exchange for the New Equity and to reflect the issuance of the New Warrants.
[9] To eliminate the historical equity of the Predecessor company in accordance with ASC 852, Reorganizations.