Leases

12 Months Ended

Dec. 31, 2022

Leases [Abstract]

Leases

Note 13— Leases

Leases

We determine if an arrangement is a lease at inception. Our operating lease agreements are primarily for real estate, equipment, storage, dock space and automobiles and are included within “Other current liabilities,” “Other assets” and “Other liabilities,” on our Consolidated Balance Sheets.

As most of our leases do not provide an explicit rate, we use our incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. Certain of our lease agreements include options to extend or terminate the lease, which we do not include in our minimum lease terms unless management is reasonably certain to exercise and reasonably certain not to exercise, respectively.

Supplemental balance sheet information related to leases was as follows:

	Successor
	December 31, 2022		December 31, 2021
Operating leases
Operating lease right-of-use assets	34,551		17,066
Current operating lease liabilities	23,832		3,923
Long-term operating lease liabilities	23,852		13,166
Weighted average remaining lease term for operating leases (years)	4.39		6.25
Weighted average discounted rate for operating leases	7.8	%	9.5	%

The components of lease cost were as follows:

	Successor				Predecessor
			Period From		Period From
			February 6, 2021		January 1, 2021
	Year Ended		through		through
	December 31, 2022		December 31, 2021		February 5, 2021
Operating lease cost	$	6,095	$	4,803	$	365
Short-term lease cost	5,741		634		(124)
Variable lease cost	948		412		(605)
Total lease cost	$	12,784	$	5,849	$	(364)

Supplemental cash flow information related to leases was as follows:

	Successor				Predecessor
			Period From		Period From
			February 6, 2021		January 1, 2021
	Year Ended		through		through
	December 31, 2022		December 31, 2021		February 5, 2021
Operating cash flows used for operating leases	$	6,676	$	5,568	$	979
Right-of-use assets obtained in exchange for a lease liability (1)	19,841		9,647		—

(1)Includes right-of-use assets acquired in business combinations.

Maturities of lease liabilities as of December 31, 2022 were as follows:

	Operating Leases
2023	$	13,005
2024	11,251
2025	6,234
2026	4,437
2027	1,468
Thereafter	4,780
Total lease payments	41,175
Less: Interest	(7,286)
Present value of lease liability	$	33,889