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LEASES (Tables)
12 Months Ended
Dec. 31, 2019
Leases [Abstract]  
Components of Lease Expense
The following tables provide the components of lease expense included within the Consolidated Statement of Comprehensive Income (Loss) for the period from May 2, 2019 through December 31, 2019 (Successor) and the period from January 1, 2019 through May 1, 2019 (Predecessor):
 
Successor Company
 
 
Predecessor Company
 
Period from May 2, 2019 through December 31,
 
 
Period from January 1, 2019 through May 1,
(In thousands)
2019
 
 
2019
Operating lease expense
$
100,835

 
 
$
44,667

Variable lease expense
$
15,940

 
 
$
476

The following table provides the weighted average remaining lease term and the weighted average discount rate for the Company's leases as of December 31, 2019 (Successor):
 
December 31,
2019
Operating lease weighted average remaining lease term (in years)
13.8

Operating lease weighted average discount rate
6.52
%
Lessee, Operating Lease, Liability, Maturity
As of December 31, 2019 (Successor), the Company’s future maturities of operating lease liabilities were as follows:
(In thousands)
2020
$
129,324

2021
131,059

2022
124,343

2023
110,721

2024
100,667

Thereafter
762,811

  Total lease payments
$
1,358,925

Less: Effect of discounting
484,966

  Total operating lease liability
$
873,959

Schedule of Cash Flow, Supplemental Disclosures
The following table provides supplemental cash flow information related to leases for the period from May 2, 2019 through December 31, 2019 (Successor) and the period from January 1, 2019 through May 1, 2019 (Predecessor):
 
Successor Company
 
 
Predecessor Company
 
Period from May 2, 2019 through December 31,
 
 
Period from January 1, 2019 through May 1
(In thousands)
2019
 
 
2019
Cash paid for amounts included in measurement of operating lease liabilities
$
89,567

 
 
$
44,888

Lease liabilities arising from obtaining right-of-use assets(1)
$
29,498

 
 
$
913,598

(1) Lease liabilities from obtaining right-of-use assets include transition liabilities upon adoption of ASC 842, as well as new leases entered into during the period from May 2, 2019 through December 31, 2019 (Successor) and the period from January 1, 2019 through May 1, 2019 (Predecessor). Upon adoption of fresh start accounting upon emergence from the Chapter 11 Cases, the Company increased its operating lease obligation by $459.0 million to reflect its operating lease obligation as estimated fair value (see Note 3, Fresh Start Accounting).
The Company reflects changes in the lease liability and changes in the ROU asset on a net basis in the Statements of Cash Flows.