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OTHER CURRENT ASSETS, PROPERTIES AND EQUIPMENT, OTHER ASSETS, ACCRUED EXPENSES, OTHER CURRENT LIABILITIES AND OTHER LIABILITIES AND DEFERRED CREDITS (Tables) | 6 Months Ended
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Sep. 30, 2017
Other Current Assets Properties And Equipment Other Assets Accrued Expenses Other Current Liabilities And Other Non Current Liabilities And Deferred Credits [Abstract] |
Schedule of Other Current Assets | A summary of other current assets at September 30, 2017 and March 31, 2017 is as follows:
|  | Successor |  |  |  | Predecessor |
|  | September 30, |  |  |  | March 31, |
(In thousands) |  | 2017 |  |  |  | 2017 |
Deposits |  | $ | 1,944 |  |  |  |  | 3,057 |
Reorganization related retainer payments |  |  | 1,028 |  |  |  |  | 3,938 |
Prepaid expenses |  |  | 11,841 |  |  |  |  | 11,414 |
|  | $ | 14,813 |  |  |  |  | 18,409 |
Summary of Net Properties and Equipment | A summary of net properties and equipment at September 30, 2017 and March 31, 2017 is as follows:
|  | Successor |  |  |  | Predecessor |
|  | September 30, |  |  |  | March 31, |
(In thousands) |  | 2017 |  |  |  | 2017 |
Properties and equipment: |  |  |  |  |  |  |  |  |
Vessels and related equipment |  | $ | 854,403 |  |  |  |  | 3,407,760 |
Other properties and equipment |  |  | 22,424 |  |  |  |  | 69,670 |
|  |  | 876,827 |  |  |  |  | 3,477,430 |
Less accumulated depreciation and amortization |  |  | 8,138 |  |  |  |  | 612,668 |
Net properties and equipment |  | $ | 868,689 |  |  |  |  | 2,864,762 |
Schedule Of Other Assets | A summary of other assets at September 30, 2017 and March 31, 2017 is as follows:
|  | Successor |  |  |  | Predecessor |
|  | September 30, |  |  |  | March 31, |
(In thousands) |  | 2017 |  |  |  | 2017 |
Recoverable insurance losses |  | $ | 2,540 |  |  |  |  | 10,142 |
Deferred income tax assets |  |  | — |  |  |  |  | 39,134 |
Savings plans and SERP |  |  | 15,174 |  |  |  |  | 14,835 |
Accumulated costs of rejected vessel (A) |  |  | 7,007 |  |  |  |  | 48,382 |
Restricted cash and long-term deposits |  |  | 15,761 |  |  |  |  | 15,162 |
Other |  |  | 6,363 |  |  |  |  | 11,880 |
|  | $ | 46,845 |  |  |  |  | 139,535 |
| (A) | Refer to Note (10) of Notes to Condensed Consolidated Financial Statements for additional information regarding the vessel rejected at the time of delivery.
Schedule of Accrued Expenses | A summary of accrued expenses at September 30, 2017 and March 31, 2017 is as follows:
|  | Successor |  |  |  | Predecessor |
|  | September 30, |  |  |  | March 31, |
(In thousands) |  | 2017 |  |  |  | 2017 |
Payroll and related payables |  | $ | 10,079 |  |  |  |  | 10,465 |
Commissions payable (B) |  |  | 2,139 |  |  |  |  | 2,143 |
Accrued vessel expenses |  |  | 41,251 |  |  |  |  | 41,580 |
Accrued interest expense (C) |  |  | 6,008 |  |  |  |  | 15,021 |
Other accrued expenses |  |  | 1,638 |  |  |  |  | 8,912 |
|  | $ | 61,115 |  |  |  |  | 78,121 |
| (B) | Excludes $34.4 million and $34.7 million of commissions due to Sonatide at September 30, 2017 and March 31, 2017, respectively. These amounts are included in amounts due to affiliate.
| (C) | Accrued interest as of September 30, 2017 reflects interest related to borrowings which were not considered liabilities subject to compromise.
Schedule of Other Current Liabilities | A summary of other current liabilities at September 30, 2017 and March 31, 2017 is as follows: add undistributed cash
|  | Successor |  |  |  | Predecessor |
|  | September 30, |  |  |  | March 31, |
(In thousands) |  | 2017 |  |  |  | 2017 |
Taxes payable |  | $ | 22,080 |  |  |  |  | 23,497 |
Deferred gain on vessel sales - current (D) |  |  | — |  |  |  |  | 23,798 |
Amounts payable to holders of General Unsecured Claims (E) |  |  | 14,828 |  |  |  |  | — |
Other |  |  | 1,133 |  |  |  |  | 1,134 |
|  | $ | 38,041 |  |  |  |  | 48,429 |
| (B) | Deferred gains related to the company’s sale leaseback vessels were recognized as reorganization items in the quarter ended June 30, 2017, due to the company’s rejection of its lease contracts as part of the Chapter 11 proceedings. Refer to Note (4) Reorganization Items.
| (C) | Amounts payable to holders of General Unsecured Claims will be paid upon the settlement of the final sale leaseback claims.
Schedule of Other Liabilities and Deferred Credits | A summary of other liabilities and deferred credits at September 30, 2017 and March 31, 2017 is as follows:
|  | Successor |  |  |  | Predecessor |
|  | September 30, |  |  |  | March 31, |
(In thousands) |  | 2017 |  |  |  | 2017 |
Postretirement benefits liability |  | $ | 4,290 |  |  |  |  | 4,394 |
Pension liabilities |  |  | 42,981 |  |  |  |  | 40,339 |
Deferred gain on vessel sales (F) |  |  | — |  |  |  |  | 88,923 |
Other |  |  | 15,298 |  |  |  |  | 21,049 |
|  | $ | 62,569 |  |  |  |  | 154,705 |
| (B) | Deferred gains related to the company’s sale leaseback vessels were recognized as reorganization items in the quarter ended June 30, 2017, due to the company’s rejection of its lease contracts as part of the Chapter 11 proceedings. Refer to Note (4) Reorganization Items.

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