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Debt (Tables)
12 Months Ended
Dec. 31, 2021
Debt Disclosure [Abstract]  
Schedule of Debt Outstanding

Debt outstanding consisted of the following (in millions):

 

 

 

 

 

Predecessor

 

 

 

 

 

December 31,

 

 

 

Maturity Date

 

2020

 

Term Loan

 

May 1, 2024

 

$

634

 

Term Loan, Amended

 

October 31, 2026

 

 

1,976

 

Secured Senior Notes

 

June 1, 2025

 

 

300

 

Unsecured Senior Notes

 

June 1, 2025

 

 

1,230

 

$24m Revolving Credit Facility

 

May 1, 2022

 

 

 

$226m Revolving Credit Facility, Amended

 

October 31, 2024

 

 

 

Other

 

December 31, 2021

 

 

10

 

Total gross debt

 

 

 

 

4,150

 

Less: term loan and senior note financing fees and premium, net

 

 

 

 

(72

)

Total debt, net

 

 

 

 

4,078

 

Less: current portion of long term debt, net

 

 

 

 

(37

)

Total long term debt, net

 

 

 

$

4,041

 

 

 

 

 

 

 

Successor

 

 

 

 

 

December 31,

 

 

 

Maturity Date

 

2021

 

Term Loan

 

May 1, 2024

 

$

 

72

 

Term Loan, Amended

 

October 31, 2026

 

 

 

1,958

 

Term Loan, Third Incremental(1)

 

August 31, 2028

 

 

 

517

 

Secured Senior Notes

 

June 1, 2025

 

 

 

314

 

$294m Revolving Credit Facility, Amended

 

August 31, 2026

 

 

 

 

Other

 

June 30, 2022

 

 

 

7

 

Total debt, net

 

 

 

 

 

2,868

 

Less: current portion of long-term debt, net

 

 

 

 

 

(38

)

Total long-term debt, net

 

 

 

$

 

2,830

 

 

(1)
The net balance for the Third Incremental Term Loan includes unamortized debt issuance costs of $6 million.
Schedule of Aggregate Contractual Principal Payments

Aggregate contractual principal payments as of December 31, 2021 are as follows (in millions):

 

2022

 

$

 

38

 

2023

 

 

 

32

 

2024

 

 

 

84

 

2025

 

 

 

325

 

2026

 

 

 

1,882

 

Thereafter

 

 

 

497

 

Total payments

 

$

 

2,858