CONDENSED COMBINED DEBTOR-IN-POSSESSION FINANCIAL INFORMATION (Tables)

3 Months Ended

Jun. 30, 2017

(Unaudited)

(In thousands)

	Three Months Ended
	June 30,
	2017
Revenues:
Vessel revenues	$	16,518
Other operating revenues		621
		17,139
Costs and expenses:
Vessel operating costs		5,557
Costs of other operating revenues		71
General and administrative		17,131
Vessel operating leases		3,111
Depreciation and amortization		10,798
Gain on asset dispositions, net		(3,011	)
Asset impairments		65,715
		99,372
Operating loss		(82,233	)
Other income (expenses):
Foreign exchange loss		(70	)
Reorganization items		(313,176	)
Interest and other debt costs, net		(5,949	)
		(319,195	)
Loss before income taxes		(401,428	)
Income tax benefit		(6,832	)
Net Loss	$	(394,596	)

(Unaudited)

(In thousands)

	June 30,
ASSETS	2017
Current assets:
Cash and cash equivalents	$	75
Trade and other receivables, net		11,550
Marine operating supplies		8,820
Other current assets		23,285
Total current assets		43,730
Investments in non-debtor subsidiaries		927,473
Net properties and equipment		755,492
Intercompany receivables from non-debtor subsidiaries		956,808
Other assets		106,167
Total assets	$	2,789,670

LIABILITIES AND EQUITY
Current liabilities:
Accounts payable	$	6,909
Accrued expenses		23,878
Other current liabilities		1,175
Total current liabilities		31,962
Other liabilities and deferred credits		51,303
Intercompany payables to non-debtor subsidiaries		41,855
Liabilities subject to compromise		2,389,557

Commitments and Contingencies

Total stockholders’ equity		274,993
Total liabilities and equity	$	2,789,670

(Unaudited)

(In thousands)

	Three Months Ended
	June 30,
	2017
Operating activities:
Net loss	$	(394,596	)
Reorganization items		308,011
Provision for deferred income taxes		(5,543	)
Depreciation		10,798
Compensation expense - stock-based		291
Gain on asset dispositions, net		(3,011	)
Asset impairments		65,715
Changes in assets and liabilities, net		13,261
Net cash used in operating activities		(5,074	)

Investing activities:
Proceeds from sales of assets		129
Additions to properties and equipment		(585	)
Net cash used in investing activities		(456	)

Financing activities:
Dividend received from non-debtor entity		4,800
Net cash provided by financing activities		4,800

Net change in cash and cash equivalents		(730	)
Cash and cash equivalents at beginning of period		805
Cash and cash equivalents at end of period	$	75