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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
 
    
Maturity Date
  
December 31,

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
 
    
Maturity Date
  
December 31,

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