Chapter 11 Proceedings (Tables)

9 Months Ended

Sep. 30, 2021

Reorganizations [Abstract]

Schedule of Reorganization Items Incurred

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

	Successor		Predecessor
	Three Months Ended		Three Months Ended
	September 30, 2021		September 30, 2020
Professional fees	$	1,916	$	18,634
Net gain on settlement with certain unsecured vendors		—		(9,971	)
Total reorganization items, net	$	1,916	$	8,663

	Successor		Predecessor
	Period from April 24 through		Period from January 1 through			Nine Months Ended
	September 30, 2021		April 23, 2021			September 30, 2020
Professional fees	$	7,454	$	51,084		$	39,293
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			—
Other		—		1,793			(4,205	)
Write-off of debt issuance costs		—		—			27,552
Total reorganization items, net	$	7,454	$	1,639,763		$	62,640

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 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