Discontinued Operations (Tables)

9 Months Ended

Sep. 30, 2021

Discontinued Operations [Abstract]

Components Of Income (Loss) From Discontinued Operations

The following tables summarizes the components of our discontinued operations, net of tax (in thousands):

	Successor			Predecessor
	For the Three Months Ended September 30, 2021			For the Three Months Ended September 30, 2020
Revenues	$	16,985		$	30,996
Cost of services		6,883			29,216
Depreciation, depletion, amortization and accretion		146			7,055
General and administrative expenses		2,379			4,101
Reduction in value of assets		14,475			60,230
Loss from operations		(6,898	)		(69,606	)
Other income (expense)		238			6
Loss from discontinued operations before tax		(6,660	)		(69,600	)
Income tax benefit (expense)		1,499			(314	)
Loss from discontinued operations, net of income tax	$	(5,161	)	$	(69,914	)

Cost of services during the Successor Quarter includes gains on sales of assets of approximately $10.5 million.

	Successor			Predecessor
	For the Period February 3, 2021 through September 30, 2021			For the Period January 1, 2021 through February 2, 2021			For the Nine Months Ended September 30, 2020
Revenues	$	85,351		$	10,719		$	150,992
Cost of services		62,364			10,398			145,297
Depreciation, depletion, amortization and accretion		31,502			2,141			24,261
General and administrative expenses		8,597			1,119			21,576
Reduction in value of assets		26,905			-			109,591
Loss from operations		(44,017	)		(2,939	)		(149,733	)
Other income (expense)		188			2,485			21
Loss from discontinued operations before tax		(43,829	)		(454	)		(149,712	)
Income tax benefit (expense)		9,862			102			11,710
Loss from discontinued operations, net of income tax	$	(33,967	)	$	(352	)	$	(138,002	)

Cost of services during the Successor Period includes gains on sales of assets of approximately $15.5 million.

Assets And Liabilities Of Discontinued Operation

The following summarizes the assets and liabilities related to assets held for sale (in thousands):

	Successor		Predecessor
	September 30, 2021		December 31, 2020
Current assets:
Accounts receivable, net	$	11,033	$	25,448
Prepaid expenses		1,250		4,881
Other current assets		5,660		12,076
Total current assets		17,943		42,405
Property, plant and equipment, net		62,050		179,380
Operating lease ROU assets		6,938		16,958
Other assets		991		3,361
Total assets held for sale	$	87,922	$	242,104
Current liabilities:
Accounts payable	$	1,964	$	2,830
Accrued expenses		13,722		11,153
Total current liabilities		15,686		13,983
Operating lease liabilities		6,958		21,987
Decommissioning liabilities		-		8,311
Other liabilities		597		2,095
Total liabilities	$	23,241	$	46,376

Schedule Of Cash Flows From Discontinued Operations

Significant operating non-cash items relating to assets held for sale and cash flows from investing activities were as follows (in thousands):

	Successor			Predecessor
	For the Period February 3, 2021 through September 30, 2021			For the Period January 1, 2021 through February 2, 2021			For the Nine Months Ended September 30, 2020
Cash flows from discontinued operating activities:
Reduction in value of assets	$	26,905		$	-		$	109,591
Gain on sale of assets		(15,572	)		(43	)		-
Depreciation, depletion, amortization and accretion		31,502			2,142			24,261
Cash flows from discontinued investing activities:
Proceeds from sales of assets		53,225			486			14,369