Reorganization Items, Net

6 Months Ended

Jun. 30, 2017

Expenses and income directly associated with the Chapter 11 Cases are reported separately in the Condensed Statements of Operations as reorganization items as required by ASC 852. Reorganization items also include adjustments to reflect the carrying value of liabilities subject to compromise at their estimated allowed claim amounts, as such adjustments are determined.

Reorganization items include an allocation of professional fees incurred in relation to the Chapter 11 Cases. For the three months ended March 31, 2016 (Predecessor), the cost of these professional fees was allocated on the basis of the Predecessor’s assets as compared to the total assets of the Parent for each reporting period.

The following table presents reorganization items (in thousands):



	Predecessor
	For the three months ended March 31, 2016
Professional fees	(10,962		)
Rejected executory contracts, leases and other	18,882
Reorganization items, net	$	7,920

Net cash paid for reorganization items for the three months ended March 31, 2016 (Predecessor) totaled approximately $12.3 million.