Supplemental Cash Flow Information (Tables)

9 Months Ended

Sep. 30, 2024

Supplemental Cash Flow Elements [Abstract]

Schedule of Supplemental Consolidated Statements of Cash Flows

Supplemental information for the Consolidated Statements of Cash Flows for the periods was:

	Successor				Predecessor
	Nine Months Ended September 30, 2024		May 18 through September 30, 2023		January 1 through May 17, 2023
Cash paid during the period
Interest and other finance charges, net of capitalized interest (a)	$	159	$	30	$	283
Income taxes, net	14		9		7
Unrealized (gain) loss on derivative instruments included on the Statements of Cash Flows
Commodity contracts	$	(58)	$	43	$	63
Interest rate swap contracts (interest expense)	(1)		6		2
Unrealized (gain) loss on derivative instruments	$	(59)	$	49	$	65
Depreciation, amortization and accretion included on the Statements of Cash Flows
Depreciation, amortization and accretion	$	225	$	94	$	200
Other	(9)		(5)		8
Depreciation, amortization and accretion	$	216	$	89	$	208
Reconciliation of other non-cash operating activities
Stock-based compensation	$	24	$	11	$	—
Derivative option premium amortization	16		31		29
Bitcoin revenue	(91)		(44)		(27)
Debt restructuring (gain) loss, net	(9)		—		—
Other	2		25		5
Total	$	(58)	$	23	$	7
Non-cash investing activities
Capital expenditure accrual increase (decrease)	$	(16)	$	(8)	$	(28)
Non-cash financing activities
Non-cash increase to PP&E and decrease to other current assets for contribution of Bitcoin miners to Nautilus (b)	$	—	$	—	$	14
Non-cash decrease to PP&E and decrease to noncontrolling interest for distribution of Bitcoin miners to TeraWulf	—		—		3
Non-cash increase to PP&E and increase to noncontrolling interest for contribution of Bitcoin miners by TeraWulf (b)	—		—		38

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(a)Capitalized interest totaled $3 million for the nine months ended September 30, 2024 (Successor); $7 million for May 18 through September 30, 2023 (Successor); and $12 million for January 1 through May 17, 2023 (Predecessor).

(b)In 2023, each of the joint venture partners of Nautilus made non-cash contributions to Nautilus of Bitcoin miners that increased PP&E.

The following provides a reconciliation of “Cash and cash equivalents” and “Restricted cash and cash equivalents” presented on the Consolidated Statements of Cash Flows to line items within the Consolidated Balance Sheets:

	Successor
	September 30, 2024		December 31, 2023
Cash and cash equivalents	$	648	$	400
Restricted cash and cash equivalents:
TES TLC debt restricted deposits	472		472
Nautilus project restricted deposits	9		10
Commodity exchange margin deposits	3		—
Cumulus Digital Holdings restricted deposits	—		19
Restricted cash and cash equivalents	484		501
Total	$	1,132	$	901