(9)

OTHER ASSETS, ACCRUED EXPENSES, OTHER CURRENT LIABILITIES AND OTHER LIABILITIES AND DEFERRED CREDITS

A summary of other assets at September 30, 2015 and March 31, 2015 is as follows:


(In thousands)	September 30, 2015		March 31, 2015

Recoverable insurance losses	$	9,793		10,468
Deferred income tax assets		23,923		19,004
Deferred finance charges – revolver		7,534		7,396
Savings plans and supplemental plan		21,447		23,208
Expected refunds due pursuant to cancelled vessel construction contracts (A)		26,559		---
Other		14,424		15,120

	$	103,680		75,196

(A)

Assumes options to acquire seven vessels are not exercised by the company. Refer to Note (7)

A summary of accrued expenses at September 30, 2015 and March 31, 2015 is as follows:


(In thousands)	September 30, 2015		March 31, 2015

Payroll and related payables	$	32,864		32,041
Commissions payable (B)		7,203		8,282
Accrued vessel expenses		70,555		79,549
Accrued interest expense		14,928		14,514
Other accrued expenses		11,402		11,869

	$	136,952		146,255

(B)

Excludes $22.6 million and $46.3 million of commissions due to Sonatide at September 30, 2015 and March 31, 2015, respectively. These amounts are included in amounts due to affiliate.

A summary of other current liabilities at September 30, 2015 and March 31, 2015 is as follows:


(In thousands)	September 30, 2015		March 31, 2015

Taxes payable	$	50,243		56,620
Deferred gain on vessel sales - current		24,928		25,057
Other		359		784

	$	75,530		82,461

A summary of other liabilities and deferred credits at September 30, 2015 and March 31, 2015 is as follows:


(In thousands)	September 30, 2015		March 31, 2015

Postretirement benefits liability	$	21,865		23,018
Pension liabilities		42,625		41,279
Deferred gain on vessel sales		124,360		136,238
Other		35,668		34,573

	$	224,518		235,108