Property and Equipment
|12 Months Ended|
Dec. 31, 2020
|Property, Plant and Equipment [Abstract]|
|Property and Equipment||Property and Equipment
Property and equipment consist of the following (amounts in thousands):
Depreciation expense for the Successor Company year ended December 31, 2020, the Successor Company period September 1, 2019 through December 31, 2019, the Predecessor Company period January 1, 2019 through August 31, 2019, and the Predecessor Company year ended December 31, 2018 was $13,844,000, $3,777,000, $7,348,000 and $11,434,000, respectively.
In connection with the application of fresh start accounting on August 31, 2019, the Company recorded fair value adjustments disclosed in Note 4, Fresh Start Accounting. Accumulated depreciation was therefore eliminated as of that date.
The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections.
Reference 1: http://www.xbrl.org/2003/role/disclosureRef