Leases and Lease Commitments (Tables)

6 Months Ended

Jun. 30, 2021

Components of expense attributable to these finance leases are as follows (in thousands):

	Successor
	Period from April 24
	through June 30,
	2021
Finance lease cost:
Amortization of ROU assets	$	3,318
Interest on lease liabilities		2,152
Total	$	5,470

Supplemental information related to the finance leases is as follows (in thousands, except weighted-average data):

	Successor
	Period from April 24
	through June 30,
	2021
Finance Leases:
Operating cash flows used	$	2,152
Financing cash flows used		2,240
ROU assets obtained in exchange for lease liabilities		174,571
Weighted-average remaining lease term	4.94 years
Weighted-average discount rate		6.72	%

Maturities of the finance lease liabilities as of June 30, 2021 are as follows (in thousands):

2021 (excluding six months ended June 30, 2021)	$	13,248
2022		26,280
2023		26,280
2024		26,352
2025		26,280
2026		96,430
Thereafter		-
Total lease payments		214,870
Less: interest		(43,043	)
Total lease liability	$	171,827

Amounts recognized in our unaudited Condensed Consolidated Balance Sheets for both our operating and finance leases are as follows:

	Successor			Predecessor
	June 30, 2021			December 31, 2020
Operating Leases:
Other assets	$	44,727		$	154,796
Accrued liabilities		(16,267	)		(5,072	)
Other liabilities		(28,545	)		(23,476	)
Liabilities subject to compromise ⁽¹⁾		—			(112,646	)
Finance Leases:
Drilling and other property and equipment, net of accumulated depreciation		171,253			—
Current finance lease liabilities		(15,338	)		—
Noncurrent finance lease liabilities		(156,489	)		—

⁽¹⁾

Balance at December 31, 2020 included current and noncurrent operating lease liabilities of $16.7 million and $95.9 million, respectively.