Leases and Lease Commitments (Tables)

9 Months Ended

Sep. 30, 2021

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

	Successor
	Period from April 24
	through September 30,
	2021
Finance lease cost:
Amortization of ROU assets	$	7,552
Interest on lease liabilities		5,006
Total	$	12,558

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

	Successor
	Period from April 24
	through September 30,
	2021
Finance Leases:
Operating cash flows used	$	5,006
Financing cash flows used		6,011
ROU assets obtained in exchange for lease liabilities		174,571
Weighted-average remaining lease term	4.69 years
Weighted-average discount rate		6.72	%

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

2021 (excluding nine months ended September 30, 2021)	$	6,624
2022		26,280
2023		26,280
2024		26,352
2025		26,280
2026		96,430
Thereafter		—
Total lease payments		208,246
Less: interest		(40,190	)
Total lease liability	$	168,056

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

	Successor			Predecessor
	September 30, 2021			December 31, 2020
Operating Leases:
Other assets	$	41,812		$	154,796
Accrued liabilities		(16,354	)		(5,072	)
Other liabilities		(25,373	)		(23,476	)
Liabilities subject to compromise ⁽¹⁾		—			(112,646	)
Finance Leases:
Drilling and other property and equipment, net of accumulated depreciation		167,019			—
Current finance lease liabilities		(15,599	)		—
Noncurrent finance lease liabilities		(152,457	)		—

⁽¹⁾

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