Chapter 11 Proceedings (Tables)

12 Months Ended

Dec. 31, 2021

Reorganizations [Abstract]

Schedule of Reorganization Items Incurred

The following tables provide information about reorganization items incurred during the Successor period from April 24, 2021 through December 31, 2021 and the Predecessor periods from January 1, 2021 through April 23, 2021 and the year ended December 31, 2020 (in thousands):

	Successor		Predecessor
	Period from April 24, 2021		Period from January 1, 2021
	through		through			Year Ended
	December 31, 2021		April 23, 2021			December 31, 2020
Professional fees	$	8,088	$	51,084		$	53,517
Fresh start valuation adjustments		—		2,699,422			—
Net gain on settlement of liabilities subject to compromise		—		(1,129,892	)		—
Accrued backstop commitment premium		—		10,424			—
Write-off of predecessor directors and officers tail insurance policy		—		6,932			—
Write-off of debt issuance costs		—		1,793			27,552
Other		—		—			(4,159	)
Total reorganization items, net	$	8,088	$	1,639,763		$	76,910

Summary of Liabilities Subject to Compromise

Liabilities subject to compromise at December 31, 2020 consisted of the following (in thousands):

	Predecessor
	December 31,
	2020
Debt subject to compromise:
Borrowings under the RCF	$	436,000
3.45% Senior Notes due 2023		250,000
7.875% Senior Notes due 2025		500,000
5.70% Senior Notes due 2039		500,000
4.875% Senior Notes due 2043		750,000
Lease liabilities		112,646
Accrued interest		47,636
Accounts payable		16,725
Other accrued liabilities		1,302
Other liabilities		4,496
Total liabilities subject to compromise	$	2,618,805