XML 28 R8.htm IDEA: XBRL DOCUMENT v3.22.4
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
4 Months Ended 8 Months Ended 12 Months Ended
Apr. 23, 2021
Dec. 31, 2021
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Operating activities:          
Net loss $ (1,961,989) $ (177,344) $ (103,211)   $ (1,254,904)
Adjustments to reconcile net loss to net cash provided by operating activities:          
Depreciation 92,758 68,504 103,478   320,085
Loss on impairment of assets 197,027 132,449 0   842,016
Reorganization items, net 1,587,392       22,106
(Gain) loss on disposition of assets (5,486) (1,024) (4,895)   (7,375)
Deferred tax provision (35,894) (3,482) 479   (19,228)
Stock-based compensation expense   10,766 20,159   5,637
Contract liabilities, net 10,617 48,293 (36,292)   8,823
Contract assets, net (742) (1,418) 1,694   3,444
Deferred contract costs, net (12,034) (13,081) (1,594)   1,960
Long-term employee remuneration programs 475 119 62   (4,256)
Collateral deposits   6,030 17,479   (18,262)
Other assets, noncurrent 2,685 361 (2,950)   (7,950)
Other liabilities, noncurrent (371) (2,092) 115   (2,279)
Other 2,683 1,579 2,194   3,321
Changes in operating assets and liabilities:          
Accounts receivable 2,108 (16,984) (25,718)   114,329
Prepaid expenses and other current assets (2,791) 305 2,028   6,334
Accounts payable and accrued liabilities 29,302 (40,133) 55,006   (14,143)
Taxes payable (5,804) 6,056 (19,170)   8,721
Net cash provided by (used in) operating activities (100,064) 18,904 8,864   8,379
Investing activities:          
Capital expenditures (49,119) (42,812) (60,023)   (189,528)
Proceeds from disposition of assets, net of disposal costs 7,484 1,053 5,959   13,333
Deposits on asset sales     1,670    
Proceeds from sale of foreign bonds         5,915
Net cash used in investing activities (41,635) (41,759) (52,394)   (170,280)
Financing activities:          
(Repayments of) borrowings under revolving credit facility (442,034)       436,000
Borrowings on exit facilities 200,000 50,000 94,000    
Repayments on exit facilities   (70,000)      
Issuance of exit notes 75,000        
Debt issuance costs and arrangement fees (6,218)        
Principal payments of finance lease liabilities   (9,845) (15,865)    
Net cash provided by (used in) financing activities (173,252) (29,845) 78,135   436,000
Net change in cash, cash equivalents and restricted cash (314,951) (52,700) 34,605   274,099
Cash, cash equivalents and restricted cash, beginning of period 430,380 115,429 62,729 $ 430,380 156,281
Cash, cash equivalents and restricted cash, end of period $ 115,429 $ 62,729 $ 97,334 $ 62,729 $ 430,380