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