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CONDENSED CONSOLIDATING FINANCIAL STATEMENTS (Notes)
 11 Months Ended
Dec. 15, 2016
Condensed Consolidating Financial Statements [Abstract]  
CONDENSED CONSOLIDATING FINANCIAL STATEMENTS
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
 
Period from January 1, 2016 through December 15, 2016
 
Parent
Company
 
Guarantor
Subsidiaries
 
Non-Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
 
(in thousands)
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 CASH FLOWS
 
Period from January 1, 2016 through December 15, 2016
 
Parent
Company
 
Guarantor
Subsidiaries
 
Non-Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
 
(in thousands)
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

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
(79,347
)
 
—

 
—

 
122,798

 
43,451

Effect of changes in exchange rates on cash
—

 
—

 
(20
)
 
—

 
(20
)
Net increase (decrease) in cash and cash equivalents
(79,347
)
 
(10,024
)
 
897

 
—

 
(88,474
)
Cash, cash equivalents and restricted cash at beginning of period
191,065

 
10,024

 
3,265

 
—

 
204,354

Cash, cash equivalents and restricted cash at end of period
$
111,718

 
$
—

 
$
4,162

 
$
—

 
$
115,880