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Pension and Other Postretirement Benefits | 6 Months Ended
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Jun. 30, 2021
Retirement Benefits [Abstract] |
Retirement Benefits [Text Block] | Pension and Other Post-retirement Benefits We have defined-benefit pension plans and a retiree medical plan that provides post-retirement health and life insurance benefits. The components of net periodic pension and retiree medical cost were as follows (in millions):
| Successor |  |  | Predecessor |  |  |  |
| Two Months Ended June 30, 2021 |  |  | One Month Ended April 30, 2021 |  | Three Months Ended June 30, 2020 |  |  |  |
Service cost (1) | $ | — |  |  |  | $ | — |  |  | $ | .7 |  |  |  |  |
Interest cost (2) | 3.8 |  |  |  | 1.6 |  |  | 6.4 |  |  |  |  |
Expected return on plan assets(2) | (6.2) |  |  |  | (3.0) |  |  | (9.5) |  |  |  |  |
Net periodic pension and retiree medical cost (income) | $ | (2.4) |  |  |  | $ | (1.4) |  |  | $ | (2.4) |  |  |  |  |
| Successor |  |  | Predecessor
| Two Months Ended June 30, 2021 |  |  | Four Months Ended April 30, 2021 |  | Six Months Ended June 30, 2020
Service cost (1) | $ | — |  |  |  | $ | — |  |  | $ | 1.3 |
Interest cost (2) | 3.8 |  |  |  | 6.6 |  |  | 12.9 |
Expected return on plan assets(2) | (6.2) |  |  |  | (12.1) |  |  | (19.0) |
Amortization of net loss (2) | — |  |  |  | .1 |  |  | — |
Net periodic pension and retiree medical cost (income) | $ | (2.4) |  |  |  | $ | (5.4) |  |  | $ | (4.8) |
(1)Included in contract drilling and general and administrative expense in our Condensed Consolidated Statements of Operations. (2)Included in other, net, in our Condensed Consolidated Statements of Operations. During the two months ended June 30, 2021 (Successor), we contributed $0.6 million to our pension and other post-retirement benefit plans. During the four months ended April 30, 2021 (Predecessor), we contributed $22.5 million to our pension and other post-retirement benefit plans, of which $7.0 million and $5.3 million relate to the 2020 and 2019 plan year contributions, respectively, that were deferred under the U. S. Cares Act. Additionally, in March 2021, the American Rescue Plan Act of 2021 ("ARPA-21") was passed. ARPA-21 provides funding relief for U.S. qualified pension plans which should lower pension contribution requirements over the next few years. As a result, we will not make contributions to certain plans for the remainder of 2021. However, we expect to make contributions to certain other plans for the remainder of 2021 of approximately $1.3 million. These amounts represent the minimum contributions we are required to make under relevant statutes. We do not expect to make contributions in excess of the minimum required amounts.

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