Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

The components of the net deferred taxes are as follows:


	Successor
	2022		2021
Deferred tax assets
United States
Net operating loss carry forwards	$	4,256	$	3,485

Excess of net tax basis over remaining book basis	18,382		—
Deferred pension plan amounts	1,945		3,427
Accrued expenses not currently deductible	5,017		5,780
Other	135		121
Non-United States
Net operating loss carry forwards	1,076,364		1,013,281
Transition attribute	871,773		888,962
Tax credits carryover	23,820		23,849
Excess of net tax basis over remaining book basis	61,530		—
Disallowed interest deduction carryforwards	30,225		13,625
Unfavorable contract value	27,901		—


Accrued expenses not currently deductible	17		170
Deferred tax assets	2,121,365		1,952,700
Less: valuation allowance	(1,985,843)		(1,899,092)
Net deferred tax assets	$	135,522	$	53,608
Deferred tax liabilities
United States

Favorable contract value	(4,954)		(10,067)
Deferred revenue	(6,777)		(3,438)
Other	(718)		(1,116)
Non-United States
Excess of net book basis over remaining tax basis	(27,166)		(690)
Favorable contract value	(1,288)		(4,173)
Other	(5,191)		(1,912)
Deferred tax liabilities	(46,094)		(21,396)
Net deferred tax assets (liabilities)	$	89,428	$	32,212

oss) before income taxes consists of the following:

The income tax provision (benefit) consists of the following:

The following is a reconciliation of our reserve for uncertain tax positions, excluding interest and penalties.


	Successor				Predecessor
			Period From		Period From
			February 6, 2021		January 1, 2021
	Year Ended		through		through		Year Ended
	December 31, 2022		December 31, 2021		February 5, 2021		December 31, 2020
Gross balance at beginning of period	$	63,443	$	37,156	$	37,721	$	130,837
Additions based on tax positions related to current year	1,296		26,463		1,347		20,266
Additions for tax positions of prior years	69,163		21,465		—		206
Reductions for tax positions of prior years	(687)		(12,331)		(5)		(109,330)
Expiration of statutes	(236)		(9,310)		(1,907)		(4,258)
Tax settlements	—		—		—		—
Gross balance at end of period	132,979		63,443		37,156		37,721
Related tax benefits	(384)		(384)		(384)		(384)
Net reserve at end of period	$	132,595	$	63,059	$	36,772	$	37,337

The liabilities related to our reserve for uncertain tax positions are comprised of the following:


	Successor				Predecessor
			Period From		Period From
			February 6, 2021		January 1, 2021
	Year Ended		through		through		Year Ended
	December 31, 2022		December 31, 2021		February 5, 2021		December 31, 2020
Reserve for uncertain tax positions, excluding interest and penalties	$	132,595	$	63,059	$	36,772	$	37,337
Interest and penalties included in “Other liabilities”	43,313		11,930		5,273		5,164
Reserve for uncertain tax positions, including interest and penalties	$	175,908	$	74,989	$	42,045	$	42,501


	Successor				Predecessor
			Period From		Period From
			February 6, 2021		January 1, 2021
	Year Ended		through		through		Year Ended
	December 31, 2022		December 31, 2021		February 5, 2021		December 31, 2020
Effect of:
Tax rates which are different than the Cayman Islands (Successor) and UK (Predecessor) rates	34.9	%	22.6	%	0.5	%	0.4	%
Tax impact of asset impairment and disposition	—	%	—	%	—	%	4.5	%
Tax impact of restructuring	—	%	—	%	1.0	%	2.1	%
Tax impact of the tax regulation change	—	%	—	%	—	%	0.9	%
Tax impact of valuation allowance	(22.0)	%	(25.2)	%	—	%	(4.3)	%
Resolution of (reserve for) tax authority audits	(1.1)	%	2.9	%	(0.2)	%	2.5	%
Total	11.8	%	0.3	%	1.3	%	6.1	%