Note 4 - Reorganization Items, Net

9 Months Ended

Sep. 30, 2013

Reorganization Items, Description [Abstract]

Reorganization Items, Description of Legal and Advisory Professional Fees

NOTE 4: REORGANIZATION ITEMS, NET

A summary of reorganization items, net is presented in the following table:

	Successor		Predecessor					Successor		Predecessor
	One Month Ended September 30, 2013		Two Months Ended August 31, 2013			Three Months Ended September 30, 2012		One Month Ended September 30, 2013		Eight Months Ended August 31, 2013			Nine Months Ended September 30, 2012
(in millions)
Professional fees	$	5	$	15		$	37	$	5	$	114		$	125
DIP credit agreement financing costs		-		-			-		-		-			45
Provision for expected allowed claims		-		33			19		-		133			138
Net gain on reorganization adjustments		-		(1,957	)		-		-		(1,957	)		-
Net gain on fresh start adjustments		-		(302	)						(302	)		-
Other items, net		-		(6	)		-		-		(14	)		(4	)
Reorganization items, net	$	5	$	(2,217	)	$	56	$	5	$	(2,026	)	$	304
Cash payments for reorganization items	$	9	$	109		$	48	$	9	$	210		$	131

Subsequent to the Effective Date, costs directly attributable to the implementation of the Plan are reported as Reorganization items, net.  The cash payments for reorganization items for the two months ended August 31, 2013 includes $84 million of claims paid related to liabilities subject to compromise and $7 million for emergence and success fees paid on the Effective Date.  Refer to Note 3, “Fresh Start Accounting” for additional information on the net gain on reorganization and fresh start adjustments.