Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Schedule Of Income Tax Provision

The income tax provision is as follows:

	Successor						Predecessor
In thousands:	For the Year Ended December 31, 2022			Period February 3, 2021 through December 31, 2021			Period January 1, 2021 through February 2, 2021			For the Year Ended December 31, 2020
Current income tax expense/(benefit)
Federal	$	(50	)	$	(1,106	)	$	-		$	(36,506	)
State		945			(307	)		-			635
Foreign		23,738			6,220			3,314			8,497
Total current income tax expense/(benefit)		24,633			4,807			3,314			(27,374	)
Deferred income tax expense/(benefit)
Federal		(83,420	)		(42,904	)		55,015			4,593
State		165			2,633			(182	)		(638	)
Foreign		(19,097	)		2,166			1,856			(3,469	)
Total deferred income tax expense/(benefit)		(102,352	)		(38,105	)		56,689			486
Total income tax expense/(benefit)	$	(77,719	)	$	(33,298	)	$	60,003		$	(26,888	)

Schedule Of Effective Income Tax Rate Reconciliation

A reconciliation of the U.S. statutory federal tax rate to the consolidated effective tax rate is as follows:

	Successor						Predecessor
Continuing Operations (in thousands):	For the Year Ended December 31, 2022			Period February 3, 2021 through December 31, 2021			Period January 1, 2021 through February 2, 2021			For the Year Ended December 31, 2020
Computed expected tax expense/(benefit)	$	44,798		$	(32,635	)	$	69,125		$	(53,431	)
State and foreign income taxes		(350	)		(17,893	)		6,217			5,026
Valuation allowance		(13,140	)		-			(46,208	)		19,024
Gain on Settlement of Liabilities Subject to Compromise					-			(89,905	)		-
Reduction in Deferred Tax Assets					19,154			87,316			-
Fresh Start Adjustments					-			29,099			-
Worthless stock deduction		(103,992	)		-			-			-
Foreign Tax Credit		(5,161	)		-			-			-
Other		126			(1,924	)		4,359			2,493
Total income tax expense/(benefit)	$	(77,719	)	$	(33,298	)	$	60,003		$	(26,888	)

Schedule Of Deferred Tax Assets and Liabilities

Significant components of our deferred tax assets and liabilities are as follows:

In thousands:	December 31, 2022			December 31, 2021
Deferred tax assets:
Allowance for doubtful accounts	$	1,374		$	1,046
Operating loss and tax credit carryforwards		157,395			84,684
Compensation and employee benefits		7,376			8,832
Decommissioning liabilities		39,328			39,328
Goodwill and other intangible assets		369			772
Operating leases		126			197
Other Asset		52,345			30,749
Total gross deferred tax assets		258,313			165,608
Less: Valuation allowance		(80,280	)		(90,781	)
Total deferred tax assets	$	178,033			74,827
Deferred tax liabilities:
Property, plant and equipment	$	64,571		$	64,721
Notes receivable		17,812			17,812
Other Liability		1,546			1,287
Total deferred tax liabilities	$	83,929		$	83,820
Net deferred tax assets (liabilities)	$	94,104		$	(8,993	)

Summary Of Activity In Unrecognized Tax Benefits

The activity in unrecognized tax benefits is as follows:

	Successor						Predecessor
In thousands:	For the Year Ended December 31, 2022			Period February 3, 2021 through December 31, 2021			Period January 1, 2021 through February 2, 2021		For the Year Ended December 31, 2020
Unrecognized tax benefits at beginning of period	$	14,973		$	14,706		$	13,206	$	13,206
Additions based on tax positions related to prior years		569			2,848			1,500		1,757
Reductions based on tax positions related to prior years		(334	)		(552	)		-		-
Additions based on tax positions related to current year		78			-			-		-
Reductions as a result of a lapse of the applicable statute of limitations		-			-			-		(757	)
Reductions relating to settlements with taxing authorities		(1,277	)		(2,029	)		-		(1,000	)
Unrecognized tax benefits at end of period	$	14,009		$	14,973		$	14,706	$	13,206