| Summary of Changes in Accumulated Other Comprehensive Income (Loss) |
The following table provides a summary of the changes in Accumulated other comprehensive income (loss) for the periods presented (amounts in thousands):
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Accumulated Other Comprehensive Income (Loss) |
| Balance at December 31, 2017 (Predecessor Company) |
$ |
(7,375) |
|
Impact of adoption of ASU 2017-12 |
605 |
|
| Adjusted balance at January 1, 2018 (Predecessor Company) |
$ |
(6,770) |
|
Unrealized gain on derivatives recognized through Accumulated other comprehensive income (loss), net of income tax of $0 (a) |
12,882 |
|
Reclassifications of unrealized loss on derivatives into Net loss, net of income tax of $0 (b) |
1,496 |
|
Net period other comprehensive income |
14,378 |
|
| Balance at December 31, 2018 (Predecessor Company) |
$ |
7,608 |
|
Reclassifications of unrealized loss on derivatives into Net loss, net of income tax of $0 (b) |
(940) |
|
| Balance at August 31, 2019 (Predecessor Company) |
$ |
6,668 |
|
Impact of fresh start accounting (c) |
(6,668) |
|
| Balance at August 31, 2019 (Successor Company) |
$ |
— |
|
Unrealized loss on interest rate cap recognized through Accumulated other comprehensive income (loss), net of income tax of $0 (a) |
(62) |
|
Interest cost of interest rate cap reclassified into Net loss, net of income tax of $0 (b) |
71 |
|
Net period other comprehensive income |
9 |
|
| Balance at December 31, 2019 (Successor Company) |
$ |
9 |
|
Unrealized loss on interest rate cap recognized through Accumulated other comprehensive income (loss), net of income tax of $0 (a) |
(2,842) |
|
Interest cost of interest rate cap reclassified into Net loss, net of income tax of $0 (b) |
740 |
|
| Net period other comprehensive loss |
(2,102) |
|
| Balance at December 31, 2020 (Successor Company) |
$ |
(2,093) |
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(a) No income taxes were recorded on the unrealized gain / (loss) on derivative instrument amounts for 2020, 2019 and 2018 because the Company is subject to a full valuation allowance.
(b) Amounts reclassified into Net loss are included in Interest expense on the consolidated statements of operations and comprehensive income (loss). See Note 11, Derivatives for further information.
(c) The remaining amount recognized in Accumulated other comprehensive income (loss) was evaluated to have no fair value upon the application of fresh start accounting pursuant to the Plan. See Note 4, Fresh Start Accounting for further information.
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