Quarterly report pursuant to Section 13 or 15(d)

Interest Expense (Tables)

v3.8.0.1
Interest Expense (Tables)
9 Months Ended
Sep. 30, 2017
Banking and Thrift [Abstract]  
Interest Expense Net Disclosure
 
Successor
 
 
Predecessor
 
Nine Months Ended
 
Period From September 13, 2016
 
 
Period From January 1, 2016
 
September 30, 2017
 
Through September 30, 2016
 
 
Through September 12, 2016
Interest on borrowings and related fees 1
$
1,784

 
$
180

 
 
$
36,013

Amortization of debt issuance costs 2
1,362

 
38

 
 
22,188

Capitalized interest
(132
)
 

 
 
(183
)
 
$
3,014

 
$
218

 
 
$
58,018


Debt Instrument [Line Items]  
Interest Expense
The following table summarizes the components of interest expense for the periods presented:
 
Successor
 
 
Predecessor
 
Three Months Ended
 
Period From September 13, 2016
 
 
Period From July 1, 2016
 
September 30, 2017
 
Through September 30, 2016
 
 
Through September 12, 2016
Interest on borrowings and related fees 1
$
879

 
$
180

 
 
$
1,363

Amortization of debt issuance costs 2
374

 
38

 
 

Capitalized interest
(51
)
 

 
 

 
$
1,202

 
$
218

 
 
$
1,363


___________________
1 
Absent the bankruptcy proceedings and the corresponding suspension of the accrual of interest on unsecured debt, we would have recorded total contractual interest expense of $19.3 million for the period from July 1, 2016 through September 12, 2016, including $4.4 million and $13.4 million attributable to the 7.25% Senior Notes due 2019 (“2019 Senior Notes”) and the 8.5% Senior Notes due 2020 (“2020 Senior Notes”).
2
The three months ended September 30, 2017 includes a $0.2 million write-off attributable to a change in the composition of financial institutions comprising the Credit Facility’s bank group in connection with the Third Amendment (see Note 8).
 
Successor
 
 
Predecessor
 
Nine Months Ended
 
Period From September 13, 2016
 
 
Period From January 1, 2016
 
September 30, 2017
 
Through September 30, 2016
 
 
Through September 12, 2016
Interest on borrowings and related fees 1
$
1,784

 
$
180

 
 
$
36,013

Amortization of debt issuance costs 2
1,362

 
38

 
 
22,188

Capitalized interest
(132
)
 

 
 
(183
)
 
$
3,014

 
$
218

 
 
$
58,018


 
Successor
 
 
Predecessor
 
Nine Months Ended
 
Period From September 13, 2016
 
 
Period From January 1, 2016
 
September 30, 2017
 
Through September 30, 2016
 
 
Through September 12, 2016
Interest on borrowings and related fees 1
$
1,784

 
$
180

 
 
$
36,013

Amortization of debt issuance costs 2
1,362

 
38

 
 
22,188

Capitalized interest
(132
)
 

 
 
(183
)
 
$
3,014

 
$
218

 
 
$
58,018


___________________
1 
Absent the bankruptcy proceedings and the corresponding suspension of the accrual of interest on unsecured debt, we would have recorded total contractual interest expense of $66.1 million for the period from January 1, 2016 through September 12, 2016, including $15.3 million and $46.3 million attributable to the 2019 Senior Notes and the 2020 Senior Notes, respectively.
2
The nine months ended September 30, 2017 includes a total of $0.8 million of write-offs attributable to changes in the composition of financial institutions comprising the Credit Facility’s bank group in connection with amendments to the Credit Facility (see Note 8). The period from January 1, 2016 through September 12, 2016 includes $20.5 million related to the accelerated write-off of unamortized debt issuance costs associated with the RBL and Senior Notes.