Supplemental Cash Flow Information (Tables)

6 Months Ended

Jun. 30, 2024

Supplemental Cash Flow Elements [Abstract]

Schedule of Supplemental Consolidated Statements of Cash Flows

Supplemental information for the Consolidated Statements of Cash Flows for the periods were:

	Successor				Predecessor
	Six Months Ended June 30, 2024		May 18 through June 30, 2023		January 1 through May 17, 2023
Cash paid (received) during the period
Interest and other finance charges, net of capitalized interest (a)	$	124	$	2	$	283
Income taxes, net	9		3		7
Non-cash investing and operating activities
Capital expenditure accrual increase (decrease)	(16)		1		(28)
Depreciation, amortization and accretion included on the Statements of Operations:
Depreciation, amortization and accretion	150		28		200
Amortization of deferred finance costs and original issuance discounts (interest expense) (b)	2		1		8
Other	(8)		(2)		—
Total depreciation, amortization and accretion	$	144	$	27	$	208
Non-cash financing/investing activities
Non-cash increase to PP&E and decrease to other current assets for transfer of miners by Cumulus Coin (b)	$	—	$	—	14
Non-cash decrease to PP&E and decrease to noncontrolling interest for transfer of miners to TeraWulf	—		—		3
Non-cash increase to PP&E and increase to noncontrolling interest for transfer of miners by TeraWulf (b)	—		—		38
Unrealized (gain) loss on derivatives:
Commodity contracts	44		(41)		63
Interest rate swap contracts	(8)		2		2
Total unrealized (gain) loss on derivatives	$	36	$	(39)	$	65
Operating activities reconciliation adjustments, other:
Net periodic defined benefit cost	$	—	$	1	$	(3)
Stock-based compensation	16		—		—
Derivative option premium amortization	4		9		29
Bitcoin revenue	(71)		(15)		(27)
Nonrecourse paid-in-kind interest	—		3		9
Mark-to-market on warrants	—		14		—
Debt restructuring (gain) loss, net	(8)		—		—
Other	1		5		(1)
Total	$	(58)	$	17	$	7

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(a)Capitalized interest totaled $3 million for the six months ended June 30, 2024 (Successor); $3 million for May 18 through June 30, 2023 (Successor); and $12 million for January 1 through May 17, 2023 (Predecessor).

(b)In 2023, each of the joint venture partners of Nautilus made non-cash contributions to Nautilus of cryptocurrency miners that increased PP&E.

The following provides a reconciliation of “Cash and cash equivalents” and “Restricted cash and cash equivalents” presented on the Consolidated Statements of Cash Flows to line items within the Consolidated Balance Sheets:

	Successor
	June 30, 2024		December 31, 2023
Cash and cash equivalents	$	632	$	400
Restricted cash and cash equivalents:
TES TLC debt restricted deposits	472		472
Nautilus project restricted deposits	8		10
Commodity exchange margin deposits	2		—
Cumulus Digital Holdings restricted deposits	1		19
Restricted cash and cash equivalents	483		501
Total	$	1,115	$	901