CONDENSED CONSOLIDATING FINANCIAL STATEMENTS

The senior notes of the Predecessor Company were registered securities. As a result of these registered securities, we are required to present the following condensed consolidating financial information pursuant to SEC Regulation S-X Rule 3-10, “Financial Statements of Guarantors and Issuers of Guaranteed Securities Registered or Being Registered.” Our ABL Facility and Term Loan Facility of the Successor Company are not registered securities, so the presentation of condensed consolidating financial information is not required for the Successor period. The following is our condensed consolidated statement of operations and statement of cash flows for the Predecessor periods (in thousands):

CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS

(in thousands)



	Period from January 1, 2016 through December 15, 2016
	Parent Company			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Revenues	$	—		$	387,291		$	15,121		$	(2,989	)	399,423
Direct operating expense	—			353,152			10,963			(1,290		)	362,825
Depreciation and amortization expense	—			129,364			1,932			—			131,296
General and administrative expense	1,225			155,097			8,601			(1,666		)	163,257
Impairment expense	—			44,646			—			—			44,646
Operating loss	(1,225		)	(294,968		)	(6,375		)	(33		)	(302,601		)
Reorganization items, net	(560,058		)	313,691			377			419			(245,571		)
Interest expense, net of amounts capitalized	74,320			—			—			—			74,320
Other (income) expense, net	9,337			(11,607		)	(553		)	380			(2,443		)
Income (loss) before income taxes	475,176			(597,052		)	(6,199		)	(832		)	(128,907		)
Income tax (expense) benefit	(6,484		)	15,095			(11,859		)	419			(2,829		)
Net income (loss)	$	468,692		$	(581,957	)	$	(18,058	)	$	(413	)	$	(131,736	)

CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS

(in thousands)



	Year Ended December 31, 2015
	Parent Company			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Revenues	$	—		$	751,923		$	52,567		$	(12,164	)	$	792,326
Direct operating expense	—			667,551			52,616			(5,530		)	714,637
Depreciation and amortization expense	—			170,574			9,697			—			180,271
General and administrative expense	803			193,241			15,197			(6,610		)	202,631
Impairment expense	—			643,250			78,846			—			722,096
Operating loss	(803		)	(922,693		)	(103,789		)	(24		)	(1,027,309		)
Interest expense, net of amounts capitalized	73,791			—			56			—			73,847
Other (income) expense, net	(2,318		)	10,278			1,325			109			9,394
Loss before income taxes	(72,276		)	(932,971		)	(105,170		)	(133		)	(1,110,550		)
Income tax (expense) benefit	234,142			(44,629		)	3,336			—			192,849
Net income (loss)	$	161,866		$	(977,600	)	$	(101,834	)	$	(133	)	$	(917,701	)

CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS

(in thousands)



	Period from January 1, 2016 through December 15, 2016
	Parent Company			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net cash provided by (used in) operating activities	$	—		$	(139,713	)	$	1,264		$	—		$	(138,449	)
Cash flows from investing activities:
Capital expenditures	—			(8,134		)	(347		)	—			(8,481		)
Intercompany notes and accounts	—			122,798			—			(122,798		)	—
Other investing activities, net	—			15,025			—			—			15,025
Net cash provided by (used in) investing activities	—			129,689			(347		)	(122,798		)	6,544
Cash flows from financing activities:
Repayment of long-term debt	(313,424		)	—			—			—			(313,424		)
Proceeds from long-term debt	250,000			—			—			—			250,000
Proceeds from stock rights offering	109,082			—			—			—			109,082
Restricted cash	(24,692		)	—			—			—			(24,692		)
Payment of deferred financing costs	(2,040		)	—			—			—			(2,040		)
Intercompany notes and accounts	(122,798		)	—			—			122,798			—
Other financing activities, net	(167		)	—			—			—			(167		)
Net cash provided by (used in) financing activities	(104,039		)	—			—			122,798			18,759
Effect of changes in exchange rates on cash	—			—			(20		)	—			(20		)
Net increase (decrease) in cash and cash equivalents	(104,039		)	(10,024		)	897			—			(113,166		)
Cash and cash equivalents at beginning of period	191,065			10,024			3,265			—			204,354
Cash and cash equivalents at end of period	$	87,026		$	—		$	4,162		$	—		$	91,188

CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS

(in thousands)



	Year Ended December 31, 2015
	Parent Company			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net cash used in operating activities	$	—		$	(19,878	)	$	(2,508	)	$	—		$	(22,386	)
Cash flows from investing activities:
Capital expenditures	—			(39,566		)	(1,242		)	—			(40,808		)
Intercompany notes and accounts	—			47,613			—			(47,613		)	—
Other investing activities, net	—			21,405			—			—			21,405
Net cash provided by (used in) investing activities	—			29,452			(1,242		)	(47,613		)	(19,403		)
Cash flows from financing activities:
Repayments of long-term debt	(1,575		)	—			—			—			(1,575		)
Proceeds from long term debt	305,550			—			—			—			305,550
Proceeds from borrowings on revolving credit facility	130,000			—			—			—			130,000
Repayments on revolving credit facility	(200,000		)	—			—			—			(200,000		)
Payment of deferred financing cost	(11,461		)	—			—			—			(11,461		)
Repurchases of common stock	(362		)	—			—			—			(362		)
Intercompany notes and accounts	(47,613		)	—			—			47,613			—
Other financing activities, net	(3,423		)	—			—			—			(3,423		)
Net cash provided by financing activities	171,116			—			—			47,613			218,729
Effect of changes in exchange rates on cash	—			—			110			—			110
Net increase (decrease) in cash and cash equivalents	171,116			9,574			(3,640		)	—			177,050
Cash and cash equivalents at beginning of period	19,949			450			6,905			—			27,304
Cash and cash equivalents at end of period	$	191,065		$	10,024		$	3,265		$	—		$	204,354