XML 52 R33.htm IDEA: XBRL DOCUMENT v3.22.0.1

INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Schedule of Significant Components of Provision for Income Tax Benefit (Expense)

Significant components of the provision for income tax benefit (expense) from continuing operations are as follows:

(In thousands)			Successor Company																					Predecessor Company
			Year Ended December 31,												Period from May 2, 2019 through December 31,									Period from January 1, 2019 through May 1,
			2021						2020						2019									2019
Current – Federal			$	(2,169)					$	(652)					$	(172)								$	2,264
Current – foreign			(2,177)						(1,674)						(754)									(282)
Current – state			(14,919)						1,680						(10,045)									74,762
Total current benefit (expense)			(19,265)						(646)						(10,971)									76,744
Deferred – Federal			932						172,302						(14,470)									(109,511)
Deferred – foreign			976						28						23									(8)
Deferred – state			8,966						11,939						5,327									(6,320)
Total deferred benefit (expense)			10,874						184,269						(9,120)									(115,839)
Income tax benefit (expense)			$	(8,391)					$	183,623					$	(20,091)								$	(39,095)

Schedule of Significant Components of Deferred Tax Liabilities and Assets

Significant components of the Company's deferred tax liabilities and assets as of December 31, 2021 and 2020 are as follows:

			Successor Company
(In thousands)			2021						2020
Deferred tax liabilities:
Intangibles and fixed assets			$	931,406					$	1,005,116
Operating lease right-of-use assets			187,938						204,953
Total deferred tax liabilities			1,119,344						1,210,069
Deferred tax assets:
Accrued expenses			22,003						23,052
Net operating loss carryforwards			157,095						218,290
Interest expense carryforwards			337,660						315,304
Operating lease liabilities			210,227						209,010
Capital loss carryforwards			1,651,413						1,662,174
Investments			18,956						15,378
Bad debt reserves			13,078						15,247
Other			4,833						13,228
Total gross deferred tax assets			2,415,265						2,471,683
Less: Valuation allowance			1,854,143						1,818,091
Total deferred tax assets			561,122						653,592
Net deferred tax liabilities			$	558,222					$	556,477

Reconciliation of Income Tax to Income Tax Benefit

The reconciliations of income tax on income (loss) from continuing operations computed at the U.S. federal statutory tax rates to the recorded income tax benefit (expense) for the Successor Company and Predecessor Company are:

Successor Company
			Year Ended December 31,												Year Ended December 31,												Period from May 2, 2019 through December 31,
(In thousands)			2021												2020												2019
			Amount						Percent						Amount						Percent						Amount						Percent
Income tax benefit (expense) at statutory rates			$	31,500					21.0		%				440,758						21.0		%				$	(28,012)					21.0		%
State income taxes, net of federal tax effect			3,325						2.2		%				13,619						0.7		%				(4,718)						3.5		%
Foreign income taxes			(978)						(0.7)		%				(1,187)						(0.1)		%				(1,593)						1.2		%
Nondeductible items			(10,264)						(6.8)		%				(8,928)						(0.4)		%				(7,345)						5.5		%
Changes in valuation allowance and other estimates			(35,093)						(23.4)		%				(30,531)						(1.5)		%				24,439						(18.2)		%
Impairment charges			—						—		%				(257,119)						(12.3)		%				—						—		%
Tax credits			4,831						3.2		%				3,353						0.2		%				—						—		%
Other, net			(1,712)						(1.1)		%				23,658						1.1		%				(2,862)						2.1		%
Income tax benefit (expense)			$	(8,391)					(5.6)		%				$	183,623					8.7		%				$	(20,091)					15.1		%

Predecessor Company
			Period from January 1, 2019 through May 1,
(In thousands)			2019
			Amount						Percent
Income tax expense at statutory rates			$	(1,999,008)					21.0		%
State income taxes, net of federal tax effect			68,442						(0.7)		%
Foreign income taxes			(270)						—		%
Nondeductible items			(1,793)						—		%
Changes in valuation allowance and other estimates			648,384						(6.8)		%
Reorganization and fresh start adjustments			1,245,282						(13.1)		%
Other, net			(132)						—		%
Income tax expense			$	(39,095)					0.4		%

Schedule of Unrecognized Tax Benefits

(In thousands)			Successor Company
			Years Ended December 31,
Unrecognized Tax Benefits			2021						2020
Balance at beginning of period			$	14,681					$	13,664
Increases for tax position taken in the current year			1,911						2,325
Increases for tax positions taken in previous years			2,937						453
Decreases for tax position taken in previous years			(217)						(1,566)
Decreases due to lapse of statute of limitations			(1,267)						(195)
Balance at end of period			$	18,045					$	14,681

X

- References

No definition available.

+ Details

Name:	us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32639-109319

+ Details

Name:	us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32537-109319

+ Details

Name:	us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32687-109319

+ Details

Name:	us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the change in unrecognized tax benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 55
-Paragraph 217
-URI http://asc.fasb.org/extlink&oid=124434304&loc=d3e36027-109320

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 15A
-URI http://asc.fasb.org/extlink&oid=121826272&loc=SL6600010-109319

+ Details

Name:	us-gaap_ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration