Property, Plant And Equipment

6 Months Ended

Jun. 30, 2021

Property, Plant And Equipment [Abstract]

Property, Plant And Equipment

(7) Property, Plant and Equipment:

Property, plant and equipment, net is as follows:

	Successor		Predecessor
($ in millions)	June 30, 2021		December 31, 2020
Property, plant and equipment	$	8,813	$	27,695
Less: Accumulated depreciation		(127)		(14,764)
Property, plant and equipment, net	$	8,686	$	12,931

As of April 30, 2021, as a result of fresh start accounting, we have adjusted our property, plant, and equipment balance to fair value. See Note 4 for additional information.

Depreciation expense is principally based on the composite group method. Depreciation expense was as follows:

	Successor		Predecessor
	For the two months		For the one month		For the three months
	ended June 30,		ended April 30,		ended June 30,
($ in millions)	2021		2021		2020
Depreciation expense	$	127	$	99	$	314
	Successor		Predecessor
	For the two months		For the four months		For the six months
	ended June 30,		ended April 30,		ended June 30,
($ in millions)	2021		2021		2020
Depreciation expense	$	127	$	407	$	630