Debt (Tables)

3 Months Ended

Mar. 31, 2021

Debt Disclosure [Abstract]

Schedule of long-term debt

Our long-term debt consisted of the following as of March 31, 2021 and December 31, 2020:

	Successor				Predecessor
	March 31, 2021				December 31, 2020
	Carrying Amount		Fair Value(a)		Carrying Amount		Fair Value(a)
Exit Credit Facility - Tranche A Loans	$	—	$	—	$	—	$	—
Exit Credit Facility - Tranche B Loans	221		221		—		—
5.5% senior notes due 2026	500		521		—		—
5.875% senior notes due 2029	500		530		—		—
DIP Facility	—		—		—		—
Pre-petition revolving credit facility	—		—		1,929		1,929
Term loan due 2024	—		—		1,500		1,220
11.5% senior secured second lien notes due 2025	—		—		2,330		373
6.625% senior notes due 2020	—		—		176		8
6.875% senior notes due 2020	—		—		73		3
6.125% senior notes due 2021	—		—		167		7
5.375% senior notes due 2021	—		—		127		5
4.875% senior notes due 2022	—		—		272		12
5.75% senior notes due 2023	—		—		167		8
7.00% senior notes due 2024	—		—		624		29
6.875% senior notes due 2025	—		—		2		2
8.00% senior notes due 2025	—		—		246		10
5.5% convertible senior notes due 2026	—		—		1,064		42
7.5% senior notes due 2026	—		—		119		5
8.00% senior notes due 2026	—		—		46		2
8.00% senior notes due 2027	—		—		253		11
Premiums on senior notes	51		—		—		—
Debt issuance costs	(10)		—		—		—
Total debt, net	1,262		1,272		9,095		3,666
Less current maturities of long-term debt	—		—		(1,929)		(1,929)
Less amounts reclassified to liabilities subject to compromise	—		—		(7,166)		(1,737)
Total long-term debt, net	$	1,262	$	1,272	$	—	$	—

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(a)The carrying value of borrowings under our Exit Credit Facility approximate fair value as the interest rates are based on prevailing market rates; therefore, they are a Level 1 fair value measurement. For all other debt, a market approach, based upon quotes from major financial institutions, which are Level 2 inputs, is used to measure the fair value.