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REORGANIZATION ITEMS (Tables)
 3 Months Ended
Jun. 30, 2017
Reorganization Items [Abstract]  
Summary of Components Included in Reorganization Items

The following table summarizes the components included in “Reorganization items”:

 

 

Three Months Ended

 

 

 

June 30,

 

(In thousands)

 

2017

 

Professional fees

 

$

5,165

 

Sale-leaseback contract terminations (A)

 

 

208,141

 

Debt related costs (B)

 

 

99,870

 

Total reorganization items

 

$

313,176

 

 

 

(A)

Represents the lessors’ claims reserve of $323.6 million plus leasehold improvements to vessels underlying sale leaseback transactions of $1.7 million, partially offset by the recognition of remaining deferred gains of $105.9 million and accrued liabilities associated with the recognition of lease expense on a straight-line basis of $11.3 million.

 

 

(B)

Represents primarily $94.8 million of make-whole claims on the Senior Notes and $5.1 of unamortized debt issue costs related to the revolver, term loan and Senior Notes.