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Note 4 - Reorganization Items, Net

12 Months Ended

Dec. 31, 2013

Reorganization Items, Description [Abstract]

Reorganization Items, Description of Legal and Advisory Professional Fees

NOTE 4: REORGANIZATION ITEMS, NET

A summary of reorganization items, net is presented in the following table:

	Successor			Predecessor
(in millions)	Four Months Ended December 31, 2013			Eight Months Ended August 31, 2013			Year Ended December 31, 2012

Professional fees	$	19		$	114		$	178
DIP credit agreement financing costs		-			-			47
Provision for expected allowed claims		-			133			856
Gain on settlement of other postemployment liabilities		-			-			(238	)
Net gain on reorganization adjustments		-			(1,957	)		-
Net gain on fresh start adjustments		-			(302	)		-
Other items, net		(3	)		(14	)		-
Reorganization items, net	$	16		$	(2,026	)	$	843
Cash payments for reorganization items	$	85		$	210		$	167

Subsequent to the Effective Date, costs directly attributable to the implementation of the Plan are reported as Reorganization items, net. The cash payments for reorganization items for the eight months ended August 31, 2013 includes $84 million of claims paid related to liabilities subject to compromise paid on the Effective Date. Refer to Note 3, “Fresh Start Accounting” for additional information on the net gain on reorganization and fresh start adjustments.