Lease Obligations (Tables)
 12 Months Ended
Dec. 31, 2022
Leases [Abstract]  
Summary of Components of Lease Expense
The components of lease expense were as follows (in millions):
 
 
 
Successor
 
 
 
 
 
Predecessor
 
 
 
Year Ended
December 31,
 
 
Six Months
Ended
December 31,
 
 
 
 
 
Six Months
Ended
June 30,
 
 
Year Ended
December 31,
 
 
 
2022
 
 
2021
 
 
 
 
 
2021
 
 
2020
 
Operating lease cost
   $ 25     $ 14        
 
   $ 16     $ 40  
Finance lease cost:
                      
 
                
Amortization of leased assets
     25       12        
 
     13       21  
Interest of lease liabilities
     3       2        
 
     2       4  
Variable and short-term lease cost
     6       3        
 
     3       6  
Sublease income
     (8 )      (3 )       
 
     (4 )      (6 ) 
   
 
 
    
 
 
            
 
 
    
 
 
  
Total lease cost
   $ 51     $ 28             $ 30     $ 65  
   
 
 
    
 
 
            
 
 
    
 
 
  
Schedule of Supplemental Balance Sheet Information Related to Leases
Supplemental balance sheet information related to leases was as follows (in millions, except lease term and discount rate):
 
 
 
Successor
 
 
 
December 31,
2022
 
 
December 31,
2021
 
Operating Leases
 
 
Operating lease right-of-use assets
   $ 86     $ 120  
Current operating lease liabilities
     34       44  
Noncurrent operating lease liabilities
     103       139  
   
 
 
    
 
 
  
Total operating lease liabilities
   $ 137     $ 183  
   
 
 
    
 
 
  
Finance Leases
                
Fixed assets, net
   $ 46     $ 62  
Current finance lease liabilities
     25       27  
Noncurrent finance lease liabilities
     18       34  
   
 
 
    
 
 
  
Total finance lease liabilities
   $ 43     $ 61  
   
 
 
    
 
 
  
Weighted Average Remaining Lease Term (in years)
                
Operating leases
     6.5       5.8  
Finance leases
     2.0       2.7  
Weighted Average Discount Rate
                
Operating leases
     4.6 %      4.3 % 
Finance leases
     4.3 %      4.4 % 
Schedule of Supplemental cash Flow and Other Information Related to Leases
Supplemental cash flow and other information related to leases was as follows (in millions):
 
 
 
Successor
 
 
 
 
 
Predecessor
 
 
 
Year Ended
December 31,
 
 
Six Months
Ended
December 31,
 
 
 
 
 
Six Months
Ended
June 30,
 
 
Year Ended
December 31,
 
 
 
2022
 
 
2021
 
 
 
 
 
2021
 
 
2020
 
Cash paid for amounts included in the measurement of lease liabilities
 
 
 
 
 
 
Operating cash flows from operating leases
   $ 48     $ 27        
 
   $ 22     $ 42  
Operating cash flows from finance leases
     2       2        
 
     2       4  
Financing cash flows from finance leases
     30       14        
 
     17       24  
Right-of
use assets obtained in exchange for lease obligations
                      
 
                
Operating leases
   $ 11     $ 2        
 
   $ 10     $ 26  
Finance leases
     9       2        
 
     2       62  
Summary of Future Lease Payments for Lease Obligations
Future lease payments for lease obligations with initial terms in excess of one year as of December 31, 2022 are as follows (in millions):
 
    
Finance
Leases
     
Operating
Leases
  
2023
    $ 21      $ 37  
2024
      18        33  
2025
      5        19  
2026
      —          17  
2027
      —          15  
Thereafter
      —          28  
    
 
 
     
 
 
  
Total lease payments
      44        149  
Less: amount representing interest
      (1 )       (19 ) 
    
 
 
     
 
 
  
Total lease obligations, net
      43        130  
Less: current portion of lease obligations, net
      (25 )       (34 ) 
    
 
 
     
 
 
  
Total long-term portion of lease obligations, net
    $ 18      $ 96