XML 50 R30.htm IDEA: XBRL DOCUMENT v3.20.4
LEASES (Tables)
 12 Months Ended
Dec. 31, 2020
Leases [Abstract]  
Components of Lease Expense The following tables provide the components of lease expense included within the Consolidated Statement of Comprehensive Income (Loss) for the year ended December 31, 2020 (Successor), the period from May 2, 2019 through December 31, 2019 (Successor) and the period from January 1, 2019 through May 1, 2019 (Predecessor):
Successor CompanyPredecessor Company
Year Ended December 31,Period from May 2, 2019 through December 31,Period from January 1, 2019 through May 1,
(In thousands)202020192019
Operating lease expense$151,448 $100,835 $44,667 
Variable lease expense$31,451 $15,940 $476 

The following table provides the weighted average remaining lease term and the weighted average discount rate for the Company's leases as of December 31, 2020 (Successor):
December 31,
2020
Operating lease weighted average remaining lease term (in years)13.3
Operating lease weighted average discount rate6.6 %
Lessee, Operating Lease, Liability, Maturity
As of December 31, 2020 (Successor), the Company’s future maturities of operating lease liabilities were as follows:
(In thousands)
2021$126,732 
2022133,086 
2023120,125 
2024109,958 
202597,272 
Thereafter706,472 
  Total lease payments$1,293,645 
Less: Effect of discounting452,651 
  Total operating lease liability$840,994 
Schedule of Cash Flow, Supplemental Disclosures
The following table provides supplemental cash flow information related to leases for the year ended December 31, 2020 (Successor), the period from May 2, 2019 through December 31, 2019 (Successor) and the period from January 1, 2019 through May 1, 2019 (Predecessor):
Successor CompanyPredecessor Company
Year Ended December 31,Period from May 2, 2019 through December 31,Period from January 1, 2019 through May 1,
(In thousands)202020192019
Cash paid for amounts included in measurement of operating lease liabilities$139,507 $89,567 $44,888 
Lease liabilities arising from obtaining right-of-use assets(1)
$56,243 $29,498 $913,598 
(1) Lease liabilities from obtaining right-of-use assets include transition liabilities upon adoption of ASC 842, as well as new leases entered into during the year ended December 31, 2020 (Successor), the period from May 2, 2019 through December 31,
2019 (Successor) and the period from January 1, 2019 through May 1, 2019 (Predecessor). Upon adoption of fresh start accounting upon emergence from the Chapter 11 Cases, the Company increased its operating lease obligation by $459.0 million to reflect its operating lease obligation as estimated fair value (see Note 3, Fresh Start Accounting).