(5)	STOCKHOLDERS' EQUITY

Common Stock and Warrants

In connection with the Plan of Reorganization, Successor issued approximately 18.5 million shares of New Common Stock (approximately 17.0 million shares to General Unsecured Creditors and 1.5 million shares to holders of Predecessor stock), 7.7 million New Creditor Warrants (to General Unsecured Creditors), 2.4 million Series A Warrants (to holders of Predecessor stock), and 2.6 million Series B Warrants (to holders of Predecessor stock). The Successor also reserved for future issuance approximately 3.9 million New Creditor Warrants in respect of the unresolved sale/leaseback claims, with the remaining balance, if any, of such New Creditor Warrants following the resolution of such sale/leaseback claims to be distributed to holders of allowed General Unsecured Claims pro rata.

The shares of New Common Stock have a par value of $0.001 and are subject to dilution by (i) issuance of up to 3.9 million shares of New Common Stock upon exercise of New Creditor Warrants (with an exercise price of $0.001 per share), (ii) issuance of up to 3.0 million shares of New Common Stock reserved for issuance under the management incentive plan, (iii) issuance of up to 2.4 million shares of New Common Stock upon exercise of the Series A Warrants (with an exercise price of $57.06 per share) and (iv) issuance of up to 2.6 million shares of New Common Stock upon exercise of the Series B Warrants (with an exercise price of $62.28 per share). New Creditor Warrants are exercisable for up to 25 years from the issuance date. The Series A Warrants and Series B Warrants are each exercisable for up to six years from the issuance date.

Based on a Black-Scholes-Merton valuation and an estimated value of the underlying New Common Stock of $25 per share, the value of each New Creditor Warrant was estimated at $25, the value of each Series A Warrant was estimated at $2.27 and the value of each Series B Warrant was estimated at $1.88.

The company allocated $288.6 million, $5.5 million and $4.9 million of Enterprise Value to the New Creditor Warrants, Series A and Series B warrants, respectively.

Accumulated Other Comprehensive Loss

The changes in accumulated other comprehensive income (loss) by component, net of tax, are as follows:

Successor

Period from August 1, 2017 through September 30, 2017

Balance

Gains/(losses)

Reclasses

Net

Remaining

recognized

from OCI to

period

balance

(in thousands)

7/31/17

in OCI

net income

OCI

9/30/17

Available for sale securities

—

Total

—

		Predecessor
		Period from July 1, 2017 through July 31, 2017														Period from April 1, 2017 through July 31, 2017
		Balance			Gains/(losses)			Reclasses		Net			Remaining			Balance			Gains/(losses)			Reclasses		Net			Remaining
		at			recognized			from OCI to		period			balance			at			recognized			from OCI to		period			balance
(in thousands)		6/30/17			in OCI			net income		OCI			7/31/17			3/31/17			in OCI			net income		OCI			7/31/17
Available for sale securities	$		(9	)		51			26		77			68			(95	)		57			106		163			68
Currency translation adjustment			(9,811	)		—			—		—			(9,811	)		(9,811	)		—			—		—			(9,811	)
Pension/Post- retirement benefits			(438	)		(2,598	)		—		(2,598	)		(3,036	)		(438	)		(2,598	)		—		(2,598	)		(3,036	)
Total	$		(10,258	)		(2,547	)		26		(2,521	)		(12,779	)		(10,344	)		(2,541	)		106		(2,435	)		(12,779	)

		Predecessor
		For the three months ended September 30, 2016												For the six months ended September 30, 2016
		Balance			Gains/(losses)		Reclasses		Net		Remaining			Balance			Gains/(losses)		Reclasses		Net		Remaining
		at			recognized		from OCI to		period		balance			at			recognized		from OCI to		period		balance
(in thousands)		6/30/16			in OCI		net income		OCI		9/30/16			3/31/16			in OCI		net income		OCI		9/30/16
Available for sale securities	$		(47	)		79		40		119		72			(208	)		138		142		280		72
Currency translation adjustment			(9,811	)		—		—		—		(9,811	)		(9,811	)		—		—		—		(9,811	)
Pension/Post- retirement benefits			4,683			—		—		—		4,683			4,683			—		—		—		4,683
Interest rate swaps			(1,459	)		—		72		72		(1,387	)		(1,530	)		—		143		143		(1,387	)
Total	$		(6,634	)		79		112		191		(6,443	)		(6,866	)		138		285		423		(6,443	)

The following tables summarize the reclassifications from accumulated other comprehensive income (loss) to the condensed consolidated statement of income:

	Successor		Predecessor
	Period from		Period from
	August 1, 2017		July 1, 2017		Three Months
	through		through		Ended		Affected line item in the condensed
(In thousands)	September 30, 2017		July 31, 2017		September 30, 2016		consolidated statements of income
Realized gains on available for sale securities	$	75		26		40	Interest income and other, net
Interest rate swap		—		—		72	Interest and other debt costs
Total pre-tax amounts		75		26		112
Tax effect		—		—		—
Total gains for the period, net of tax	$	75		26		112

	Successor		Predecessor
	Period from		Period from
	August 1, 2017		April 1, 2017		Six Months
	through		through		Ended		Affected line item in the condensed
(In thousands)	September 30, 2017		July 31, 2017		September 30, 2016		consolidated statements of income
Realized gains on available for sale securities	$	75		106		142	Interest income and other, net
Interest rate swap		—		—		143	Interest and other debt costs
Total pre-tax amounts		75		106		285
Tax effect		—		—		—
Total gains for the period, net of tax	$	75		106		285