Quarterly report pursuant to Section 13 or 15(d)

Leases (Tables)

v3.21.2
Leases (Tables)
 6 Months Ended
Jun. 30, 2021
Lessee Disclosure [Abstract]  
Schedule of operating lease portfolio
The table below summarizes the Company’s operating lease portfolio (in thousands):
 
    
June 30, 2021
          
December 31, 2020
  
    
Successor
          
Predecessor
  
Right-of-use
assets
   
$
62,835
    
 
    $ 46,609  
Lease liabilities
   
$
64,496
    
 
    $ 48,250  
Weighted-average remaining lease term (in years)
   
 
6.61
    
 
      3.61  
Weighted-average discount rate
   
 
7.08
% 
  
 
      7.42 % 
Schedule of net operating lease cost
The table below summarizes the Company’s net operating lease cost:
 
    
April 1, 2021
to
June 30, 2021
           
January 1, 2021
to

March 31, 2021
    
For the three
months ended
June 30, 2020
    
For the six
months ended
June 30, 2020
  
    
Successor
           
Predecessor
  
Operating lease cost
   
$
5,591
        
 
    $ 5,490    
$
7,046
     $ 13,658  
Short-term lease cost
   
 
888
        
 
      1,035    
 
(593
) 
     1,438  
    
 
 
             
 
 
    
 
 
    
 
 
  
Total operating and short term lease cost
   
 
6,479
                6,525    
 
6,453
       15,096  
    
 
 
             
 
 
    
 
 
    
 
 
  
Variable lease cost
   
 
1,997
                1,808    
 
718
       1,422  
Sublease income
   
 
(516
) 
              (464 )   
 
(574
) 
     (1,270 ) 
    
 
 
             
 
 
    
 
 
    
 
 
  
Net lease cost
   
$
7,960
              $ 7,869    
$
6,597
     $ 15,248  
    
 
 
             
 
 
    
 
 
    
 
 
  
Schedule of other information related to the operating leases
The table below summarizes other information related to the Company’s operating leases:
 
    
April 1, 2021
to
June 30, 2021
          
January 1, 2021
to

March 31, 2021
     
For the three
months ended
June 30, 2020
     
For the
six months
ended
June 30, 2020
  
    
Successor
    
 
   
Predecessor
  
Cash paid for amounts included in the measurement of lease liabilities:
           
 
                           
Operating cash flows from operating leases
   
$
5,291
    
 
    $ 5,423      $ 6,255      $ 12,540  
Leased assets obtained in exchange for new operating lease liabilities
   
 
22,752
    
 
      701        1,134        4,598  
Schedule of maturity analysis of operating leases and a reconciliation of the undiscounted cash flows to lease liabilities
The following table presents a maturity analysis of operating leases and a reconciliation of the undiscounted cash flows to lease liabilities as of June 30, 2021 (Successor):
 
2021
   
$
10,083
  
2022
   
 
16,846
  
2023
   
 
13,104
  
2024
   
 
9,025
  
2025
   
 
6,045
  
2026
   
 
3,585
  
Thereafter
   
 
24,742
  
    
 
 
  
Total undiscounted lease payments
   
 
83,430
  
Less: amounts representing interest
   
 
(18,934
) 
    
 
 
  
Total lease liabilities
   
$
64,496