Chapter 11 Proceedings (Tables)

6 Months Ended

Jun. 30, 2021

Schedule of Reorganization Items Incurred

The following tables provide information about reorganization items incurred during the period from April 24 through June 30, 2021, the period from April 1 through April 23, 2021, the period from January 1 through April 23, 2021 and the three-month and six-month periods ended June 30, 2020, subsequent to the Petition Date (in thousands):

	Successor		Predecessor
	Period from April 24 through		Period from April 1 through			Three Months Ended
	June 30, 2021		April 23, 2021			June 30, 2020
Professional fees	$	5,538	$	25,414		$	20,659
Fresh start valuation adjustments		—		2,699,422			—
Net gain on settlement of liabilities subject to compromise		—		(1,129,892	)		—
Write-off of predecessor directors and officers insurance		—		6,932			—
Other				2,636			(714	)
Write-off of debt issuance costs		—		—			27,493
Adjustments for estimated claims and rejected contracts		—		—			6,539
Total reorganization items, net	$	5,538	$	1,604,512		$	53,977

	Successor		Predecessor
	Period from April 24 through		Period from January 1 through			Six Months Ended
	June 30, 2021		April 23, 2021			June 30, 2020
Professional fees	$	5,538	$	51,084		$	20,659
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 insurance		—		6,932			—
Other		—		1,793			(714	)
Write-off of debt issuance costs		—		—			27,493
Adjustments for estimated claims and rejected contracts		—		—			6,539
Total reorganization items, net	$	5,538	$	1,639,763		$	53,977

Summary of Liabilities Subject to Compromise

Liabilities subject to compromise at June 30, 2021 and December 31, 2020 consisted of the following (in thousands):

	Predecessor
	December 31,
	2020
Debt subject to compromise:
Borrowings under 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