Nature of Operations and Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2020

Accounting Policies [Abstract]

Schedule of cash, cash equivalents, and restricted cash

The following table provides a reconciliation of cash, cash equivalents, and restricted cash as reported within the Consolidated Balance Sheets to “Cash, cash equivalents, and restricted cash at end of period” as reported within the Consolidated Statements of Cash Flows:

	Successor		Predecessor
In thousands	December 31, 2020		December 31, 2019
Cash and cash equivalents	$	518	$	516
Restricted cash, current	1,000		—
Restricted cash included in other assets	40,730		32,529
Total cash, cash equivalents, and restricted cash shown in the Consolidated Statements of Cash Flows	$	42,248	$	33,045

Schedule of intangible assets

The following table summarizes the carrying value of our intangible assets as of December 31, 2020 and 2019:

	Successor		Predecessor
In thousands	December 31, 2020		December 31, 2019
Long-term contracts to sell CO2 to industrial customers	$	97,943	$	—
Other intangibles	2,167		37,668
Accumulated amortization	(2,748)		(15,529)
Net book value	$	97,362	$	22,139

Schedule of future amortization expense of intangible assets

As of December 31, 2020, our estimated amortization expense for our intangible assets subject to amortization over the next five years is as follows:

In thousands
2021	$	9,117
2022	9,117
2023	9,117
2024	9,117
2025	9,117

Schedule of earnings per share, basic and diluted reconciliation

The following table sets forth the reconciliations of net income (loss) and weighted average shares used for purposes of calculating basic and diluted net income (loss) per common share for the periods indicated:

	Successor		Predecessor
	Period from Sept. 19, 2020 through Dec. 31, 2020		Period from Jan. 1, 2020 through Sept. 18, 2020		Year Ended December 31,
In thousands					2019		2018
Numerator
Net income (loss) – basic	$	(50,658)	$	(1,432,578)	$	216,959	$	322,698
Effect of potentially dilutive securities
Interest on convertible senior notes including amortization of discount, net of tax	—		—		14,134		539
Net income (loss) – diluted	$	(50,658)	$	(1,432,578)	$	231,093	$	323,237
Denominator
Weighted average common shares outstanding – basic	50,000		495,560		459,524		432,483
Effect of potentially dilutive securities
Restricted stock and performance-based equity awards	—		—		2,396		6,500
Convertible senior notes(1)	—		—		48,421		17,186
Weighted average common shares outstanding – diluted	50,000		495,560		510,341		456,169

(1)For the year ended December 31, 2019, shares shown under “convertible senior notes” represent the prorated portion of the approximately 90.9 million shares of the Predecessor’s common stock issuable upon full conversion of the convertible senior notes which were issued on June 19, 2019 (see Note 8, Long-Term Debt – 2019 Predecessor Debt Reduction Transactions).

Schedule of antidilutive securities excluded from computation of earnings per share

The following securities could potentially dilute earnings per share in the future, but were excluded from the computation of diluted net income (loss) per share, as their effect would have been antidilutive:

	Successor	Predecessor
	Period from Sept. 19, 2020 through Dec. 31, 2020	Period from Jan. 1, 2020 through Sept. 18, 2020	Year Ended December 31,
In thousands			2019	2018
Stock appreciation rights	—	1,007	2,027	2,743
Restricted stock and performance-based equity awards	—	7,280	5,505	1,234
Convertible senior notes	—	87,888	—	—
Restricted stock units(1)	328	—	—	—
Warrants(2)	5,526	—	—	—

(1)    Shares represent the impact over the Successor period of the approximately 1.2 million shares of the Successor’s common stock issuable upon full vesting of the restricted stock unit awards issued on December 4, 2020 pursuant to the 2020 Omnibus Stock and Incentive Plan (see Note 11, Stock Compensation).

(2)Shares represent the impact over the Successor period of the approximately 5.5 million shares of the Successor’s common stock issuable upon full exercise of the series A warrants, at an exercise price of $32.59 per share, and series B warrants, at an exercise price of $35.41 per share, which were issued pursuant to the Plan to the Predecessor’s convertible senior notes, senior subordinated notes, and equity holders. The dilution from exercise of the series A or series B warrants could be reduced to the extent warrants are exercised on a cashless basis.