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Debt (Tables)

12 Months Ended

Dec. 31, 2022

Debt Disclosure [Abstract]

Schedule of long-term debt instruments

Our long-term debt consisted of the following as of December 31, 2022 and 2021:

			Successor
			December 31, 2022												December 31, 2021
			Carrying Amount						Fair Value(a)						Carrying Amount						Fair Value(a)
New Credit Facility			$	1,050					$	1,050					$	—					$	—
Exit Credit Facility - Tranche A Loans			—						—						—						—
Exit Credit Facility - Tranche B Loans			—						—						221						221
5.50% senior notes due 2026			500						485						500						526
5.875% senior notes due 2029			500						475						500						535
6.75% senior notes due 2029(b)			950						917						950						1,031
Premiums on senior notes			100						—						116						—
Debt issuance costs			(7)						—						(9)						—
Total long-term debt, net			$	3,093					$	2,927					$	2,278					$	2,313

____________________________________________

(a)The carrying value of borrowings under each respective Credit Facility approximates fair value as the interest rates are based on prevailing market rates; therefore, they are a Level 1 fair value measurement. For all other debt, a market approach, based upon quotes from major financial institutions, which are Level 2 inputs, is used to measure the fair value.

(b)On November 1, 2021, we acquired the debt of Vine, which consisted of 6.75% senior notes due 2029. See further discussion below.

Schedule of debt maturities

The table below presents debt maturities as of December 31, 2022, excluding debt issuance costs and premiums:

						Total
2023						$	—
2024						—
2025						—
2026						500
2027						1,050
Thereafter						1,450
Total long-term debt, net						$	3,000

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