Annual report pursuant to Section 13 and 15(d)

LONG-TERM DEBT (Tables)

v3.22.0.1
LONG-TERM DEBT (Tables)
 12 Months Ended
Dec. 31, 2021
Long-term Debt, Unclassified [Abstract]  
Schedule of long-term debt
Long-term debt consisted of the following items as of December 31, 2021 and 2020 (in thousands):
Successor Predecessor
December 31, 2021 December 31, 2020
New Credit Facility $ 164,000  $ — 
8.000% senior unsecured notes due 2026
 550,000  — 
DIP credit facility —  157,500 
Pre-petition revolving credit facility —  292,910 
6.625% senior unsecured notes due 2023
 —  324,583 
6.000% senior unsecured notes due 2024
 —  579,568 
6.375% senior unsecured notes due 2025
 —  507,870 
6.375% senior unsecured notes due 2026
 —  374,617 
Building loan —  21,914 
Net unamortized debt issuance costs (1,054) — 
          Total Debt, net 712,946  2,258,962 
Less: current maturities of long term debt —  (253,743)
Less: amounts reclassified to liabilities subject to compromise —  (2,005,219)
          Total Debt reflected as long term $ 712,946  $ — 
Schedule of interest expense
The following schedule shows the components of interest expense for the Successor Period, Predecessor Period, and the years ended December 31, 2020, and 2019 (in thousands):
Successor Predecessor
Period from May 18, 2021 through December 31, 2021 Period from January 1, 2021 through May 17, 2021 Year Ended December 31, 2020 Year Ended December 31, 2019
Cash paid for interest $ 33,295  $ 7,272  $ 84,823  $ 142,664 
Change in accrued interest 6,061  (1,503) 30,600  (3,834)
Capitalized interest (198) —  (907) (3,372)
Amortization of loan costs 1,663  —  5,563  6,328 
Other 32  (1,610) —  — 
Total interest expense $ 40,853  $ 4,159  $ 120,079  $ 141,786