Debt (Tables)

3 Months Ended

Mar. 31, 2022

Debt Disclosure [Abstract]

Schedule of long-term debt

Our long-term debt consisted of the following as of March 31, 2022 and December 31, 2021:

	Successor
	March 31, 2022				December 31, 2021
	Carrying Amount		Fair Value(a)		Carrying Amount		Fair Value(a)
Exit Credit Facility - Tranche A Loans	$	500	$	500	$	—	$	—
Exit Credit Facility - Tranche B Loans	221		221		221		221
5.50% senior notes due 2026	500		510		500		526
5.875% senior notes due 2029	500		514		500		535
6.75% senior notes due 2029	950		1,008		950		1,031
Premiums on senior notes	112		—		116		—
Debt issuance costs	(9)		—		(9)		—
Total long-term debt, net	$	2,774	$	2,753	$	2,278	$	2,313

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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.