Chapter 11 Proceedings (Tables)

9 Months Ended

Sep. 30, 2017

Reorganizations [Abstract]

Schedule of Liabilities Subject to Compromise

The following table reconciles the settlement of liabilities subject to compromise included in our Consolidated Balance Sheets from December 31, 2016 through the nine months ended September 30, 2017:

	September 30, 2017
Liabilities subject to compromise at December 31, 2016	$	4,038,041
Debt extinguishment - cash		(2,521,493	)
Debt extinguishment - non-cash		(1,339,740	)
Contract settlement		(169,600	)
Reclassified to accrued liabilities		(7,208	)
Liabilities subject to compromise at September 30, 2017	$	—

Schedule of Reorganization Items

The following table summarizes the components included in Reorganization items, net in our Consolidated Statements of Operations for the three and nine months ended September 30, 2017 and 2016:

	For the Three Months Ended						For the Nine Months Ended
	September 30, 2017			September 30, 2016			September 30, 2017			September 30, 2016
Professional fees (1)	$	(3,285	)	$	(3,215	)	$	(65,289	)	$	(6,797	)
Gains (losses) (2)		—			—			431,107			—
Deferred financing costs		—			—			—			(18,742	)
Make-whole fees (3)		(223,838	)		—			(223,838	)		—
Other (4)		—			106			167			247
Total Reorganization items, net	$	(227,123	)	$	(3,109	)	$	142,147		$	(25,292	)

⁽¹⁾ The nine months ended September 30, 2017 includes $3.8 million directly related to accrued, unpaid professional fees associated with the chapter 11 filings.

⁽²⁾ Gains (losses) represent the net gain on the debt to equity exchange related to the 2018 and 2024 Notes.

⁽³⁾ Make-whole fees represent the Bankruptcy Court order denying our objection to the make-whole claims, as further described in Note 8.

⁽⁴⁾ Cash interest income earned for the period after the Petition Date on excess cash over normal invested capital.