XML 59 R46.htm IDEA: XBRL DOCUMENT v3.21.1
Reorganization and Chapter 11 Proceedings - Additional Information (Details)
3 Months Ended 12 Months Ended
Mar. 17, 2021
USD ($)
Mar. 09, 2021
USD ($)
$ / shares
Mar. 08, 2021
$ / shares
Feb. 15, 2021
USD ($)
Jan. 11, 2021
USD ($)
$ / shares
Oct. 22, 2020
USD ($)
Oct. 09, 2020
USD ($)
Oct. 06, 2020
Sep. 04, 2020
Jun. 12, 2020
USD ($)
Sep. 27, 2018
USD ($)
Mar. 31, 2021
USD ($)
Dec. 31, 2020
USD ($)
Apr. 26, 2021
USD ($)
Claim
Sep. 20, 2020
Jun. 12, 2020
EUR (€)
Sep. 27, 2018
EUR (€)
Reorganization And Chapter11 Proceedings [Line Items]                                  
Professional and filing fees by debtor                       $ 84,000,000          
Payment of debt issuance costs                     $ 37,000,000            
Write-off of pre-petition unamortized debt issuance costs                         $ 6,000,000        
Line of credit, interest rate terms                       Following commencement of the Chapter 11 Cases, the contractual non-default rate of interest that is applicable under Senior Secured Credit Facilities is either (a) in the case of dollar denominated borrowings, base rate determined by reference to the highest of (1) the rate of interest last quoted by The Wall Street Journal as the “prime rate” in the United States, (2) the greater of the federal funds effective rate and the overnight bank funding rate, plus 0.5% and (3) the one month adjusted LIBOR rate, plus 1% per annum (“ABR”), (b) in the case of borrowings denominated in certain permitted foreign currencies other than dollars or euros, an adjusted LIBOR rate (“LIBOR”) (which shall not be less than zero), or (c) in the case of borrowings denominated in euros, an adjusted EURIBOR rate (“EURIBOR”) (which shall not be less than zero), in each case, plus an applicable margin.           
Subsequent Event                                  
Reorganization And Chapter11 Proceedings [Line Items]                                  
Number of proofs of claim filed | Claim                           2,487      
Unsecured claims amount                           $ 146,000,000,000      
Senior Secured Credit Facilities | Federal Funds Effective Rate and Overnight Bank Funding Rate                                  
Reorganization And Chapter11 Proceedings [Line Items]                                  
Debt instrument applicable margin rate               0.50%                  
Senior Secured Credit Facilities | LIBOR Loans                                  
Reorganization And Chapter11 Proceedings [Line Items]                                  
Debt instrument applicable margin rate               1.00%                  
RSA                                  
Reorganization And Chapter11 Proceedings [Line Items]                                  
Aggregate outstanding principal amount of loan percentage                             61.00%    
2020 Amended Credit Agreement | Senior Secured Credit Facilities                                  
Reorganization And Chapter11 Proceedings [Line Items]                                  
Debt instrument applicable margin rate                 0.25%                
Maximum                                  
Reorganization And Chapter11 Proceedings [Line Items]                                  
Professional and filing fees by debtor   $ 25,000,000                              
Term Loan Facility                                  
Reorganization And Chapter11 Proceedings [Line Items]                                  
Debtor-in-possession financing, committed amount upon emergence         $ 1,250,000,000                        
Revolving Credit Facility                                  
Reorganization And Chapter11 Proceedings [Line Items]                                  
Debtor-in-possession financing, committed amount upon emergence         $ 300,000,000                        
Payment of debt issuance costs                     6,000,000            
Revolving Credit Facility | Credit Agreement | Senior Secured Credit Facilities                                  
Reorganization And Chapter11 Proceedings [Line Items]                                  
Line of credit, term                   5 years              
Line of credit, maximum borrowing capacity | €                               € 430,000,000  
Term B Facility | Senior Secured Credit Facilities | ABR Loans                                  
Reorganization And Chapter11 Proceedings [Line Items]                                  
Debt instrument applicable margin rate               2.50%                  
Term B Facility | Senior Secured Credit Facilities | EURIBOR Loans                                  
Reorganization And Chapter11 Proceedings [Line Items]                                  
Debt instrument applicable margin rate                   3.75%              
Term B Facility | Credit Agreement | Senior Secured Credit Facilities                                  
Reorganization And Chapter11 Proceedings [Line Items]                                  
Line of credit, term                   7 years              
Line of credit, maximum borrowing capacity                   $ 425,000,000           375,000,000  
Term B Facility | 2020 Amended Credit Agreement | Senior Secured Credit Facilities                                  
Reorganization And Chapter11 Proceedings [Line Items]                                  
Debt instrument applicable margin rate                   0.75%              
Term A Facility | Credit Agreement | Senior Secured Credit Facilities                                  
Reorganization And Chapter11 Proceedings [Line Items]                                  
Line of credit, term                   5 years              
Line of credit, maximum borrowing capacity | €                               € 330,000,000  
Term A Facility | 2020 Amended Credit Agreement | Senior Secured Credit Facilities                                  
Reorganization And Chapter11 Proceedings [Line Items]                                  
Debt instrument applicable margin rate                   0.25%              
5.125% Senior Notes Due 2026                                  
Reorganization And Chapter11 Proceedings [Line Items]                                  
Senior notes                     $ 410,000,000 $ 412,000,000 $ 429,000,000       € 350,000,000
Debt instrument, annual fixed interest rate                     5.125%           5.125%
Debt instrument maturity date                     Oct. 15, 2026            
Stalking Horse Bidder and AMP U.S. Holdings, LLC                                  
Reorganization And Chapter11 Proceedings [Line Items]                                  
Winning bid selected                       $ 2,100,000,000          
Stalking Horse Bidder                                  
Reorganization And Chapter11 Proceedings [Line Items]                                  
Bankruptcy proceedings, date petition for bankruptcy Filed         Jan. 11, 2021                        
Termination payment         $ 63,000,000                        
Reimbursement payment expense         $ 15,700,000                        
CO Group | PSA                                  
Reorganization And Chapter11 Proceedings [Line Items]                                  
Common stock exchange rate for cancellation per share | $ / shares         $ 6.25                        
Professional and filing fees by debtor       $ 25,000,000                          
Estimated professional and filing fees by debtor       $ 82,000,000                          
CO Group | Series A Preferred Stock                                  
Reorganization And Chapter11 Proceedings [Line Items]                                  
Equity method investment aggregate amount in cash   668,800,000                              
Equity method investment maximum aggregate value   $ 632,000,000     $ 632,000,000                        
Conversion price | $ / shares   $ 5.25 $ 3.50                            
CO Group | Series A Preferred Stock | Centerbridge and Oaktree                                  
Reorganization And Chapter11 Proceedings [Line Items]                                  
Equity method investment aggregate amount in cash         $ 668,800,000                        
DIP Agent and DIP Lenders | DIP Term Loan Facility                                  
Reorganization And Chapter11 Proceedings [Line Items]                                  
Debtor-in-possession, date of approval by Bankruptcy court               Oct. 06, 2020                  
Principal amount to be funded           $ 100,000,000 $ 100,000,000                    
Debtor-in-possession financing maturity date Apr. 30, 2021             Mar. 31, 2021                  
Debtor-in-possession financing extensions description                       The original maturity date of the DIP Term Loan Facility was the earlier to occur of (a) March 31, 2021 (the “Scheduled Maturity Date”); provided, however, that upon the Company’s written request such Scheduled Maturity Date can be extended by three separate one-month extensions subject to (i) the payment of an extension fee to the Lenders equal to 0.50% of the principal amount of the Loans outstanding at the time of such extension, (ii) no default or Event of Default (as defined in the DIP Credit Agreement) existing at the time of such extension and (iii) accuracy of the representations and warranties in all material respects at the time of such extension and after giving effect thereto; and (b) the effective date of a plan of reorganization; and certain other events under the DIP Credit Agreement. On March 17, 2021, the Company prepaid $100 million that was previously outstanding under the DIP Credit Agreement, and on March 31, 2021 the Company exercised its first extension option and extended the maturity date for the loans remaining outstanding under the DIP Credit Agreement to April 30, 2021.          
Principal amount of loans outstanding percentage               0.50%                  
Debtor-in-possession financing prepaid outstanding loan $ 100,000,000                                
Debtor-in-possession interest rate description                       Following the exercise by the Company of its initial maturity date extension option, the outstanding principal amount under the DIP Term Loan Facility bears interest at a rate equal to LIBOR (subject to a 1.00% LIBOR floor) plus 5.50% per annum payable every 30 days in arrears. On the Closing Date, the Company paid 1.00% in commitment fees on the total commitment plus 2.00% in fees in the form of original issue discount on the initial $100 million borrowing. On the Delayed Draw Borrowing Date, the Company paid 2.00% in fees in the form of original issue discount on the $100 million delayed draw loan. Upon an event of default, all outstanding amounts under the DIP Credit Agreement will bear interest at a rate equal to the applicable interest rate plus an additional 2.00% per annum and be payable on demand.          
Debtor-in-possession financing,floor rate                       1.00%          
Debtor-in-possession financing,LIBOR rate                       5.50%          
Debtor-in-possession financing commitment fees percentage                       1.00%          
Debtor-in-possession financing commitment fees issue discount on initial borrowing percentage             2.00%                    
Initial draw of principal amount borrowed             $ 100,000,000                    
Debtor-in-possession financing, commitment fees issue discount on delayed draw loan percentage           2.00%                      
Delayed draw of principal amount borrowed           $ 100,000,000                      
Debtor-in-possession financing,additional interest rate                       2.00%          
DIP Agent and DIP Lenders | Maximum | DIP Term Loan Facility                                  
Reorganization And Chapter11 Proceedings [Line Items]                                  
Principal amount to be funded             $ 200,000,000