(12)	OTHER CURRENT ASSETS, PROPERTIES AND EQUIPMENT, OTHER ASSETS, ACCRUED EXPENSES, OTHER CURRENT LIABILITIES AND OTHER LIABILITIES AND DEFERRED CREDITS

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

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

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.

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.

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

(D)

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.

(E)

Amounts payable to holders of General Unsecured Claims will be paid upon the settlement of the final sale leaseback claims.

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

(F)