EARNINGS PER SHARE (Tables)

3 Months Ended

Mar. 31, 2022

Earnings Per Share [Abstract]

Schedule of Earnings Per Share

Reconciliations of the components of basic and diluted net (loss) income per common share are presented in the table below (in thousands):

	Successor		Predecessor
	Three Months Ended March 31, 2022		Three Months Ended March 31, 2021
Net (loss) income	$	(491,975)	$	8,780
Dividends on preferred stock	(1,447)		—
Participating securities - preferred stock(1)	—		—
Net (loss) income attributable to common stockholders	$	(493,422)	$	8,780
Basic Shares	21,242		160,813
Basic and Dilutive EPS	$	(23.23)	$	0.05

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(1)    Preferred stock represents participating securities because it participates in any dividends on shares of common stock on a pari passu, pro rata basis. However, preferred stock does not participate in undistributed net losses.