Quarterly report pursuant to Section 13 or 15(d)

Chapter 11 Emergence (Tables)

v3.19.2
Chapter 11 Emergence (Tables)
 6 Months Ended
Jun. 30, 2019
Reorganizations [Abstract]  
Schedule of Expenses Incurred Subsequent to and as a Direct Result of Chapter 11 Cases
Reorganization items consisted of:
 
Successor
 
 
Predecessor

Three Months Ended June 30,
 
 
Three Months Ended March 31,
 
Six Months Ended June 30,
Dollars in thousands
2019
 
 
2019
 
2018
Gain on settlement of liabilities subject to compromise
$
—

 
 
$
(191,129
)
 
$
—

Fresh start valuation adjustments
—

 
 
242,567

 
—

Professional fees
962

 
 
30,107

 
—

Backstop premium on the rights offering paid in stock
—

 
 
11,033

 
—

Other
—

 
 
399

 
—

Reorganization items
$
962

 
 
$
92,977

 
$
—


Supplemental cash flow information related to reorganization items paid is as follows:
 
Successor
 
 
Predecessor
 
Three Months Ended June 30,
 
 
Three Months Ended March 31,
 
Six Months Ended June 30,
Dollars in thousands
2019
 
 
2019
 
2018
Reorganization items paid
$
20,132

 
 
$
8,617

 
$
—


Schedule of Liabilities Subject to Compromise
Liabilities subject to compromise consisted of:
 
Successor
 
 
Predecessor
Dollars in thousands
June 30,
2019
 
 
December 31,
2018
Predecessor 6.75% senior notes, due July 2022
$
—

 
 
$
360,000

Predecessor 7.50% senior notes, due August 2020
—

 
 
225,000

Accrued interest on predecessor senior notes
—

 
 
15,996

Liabilities subject to compromise
$
—

 
 
$
600,996