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OTHER CURRENT ASSETS, PROPERTIES AND EQUIPMENT, OTHER ASSETS, ACCRUED EXPENSES, OTHER CURRENT LIABILITIES AND OTHER LIABILITIES AND DEFERRED CREDITS | 3 Months Ended
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Mar. 31, 2018
Other Current Assets Properties And Equipment Other Assets Accrued Expenses Other Current Liabilities And Other Non Current Liabilities And Deferred Credits [Abstract] |
OTHER CURRENT ASSETS, PROPERTIES AND EQUIPMENT, OTHER ASSETS, ACCRUED EXPENSES, OTHER CURRENT LIABILITIES AND OTHER LIABILITIES AND DEFERRED CREDITS |
(11) | OTHER CURRENT ASSETS, PROPERTIES AND EQUIPMENT, OTHER ASSETS, ACCRUED EXPENSES, OTHER CURRENT LIABILITIES AND OTHER LIABILITIES
A summary of other current assets at March 31, 2018 and December 31, 2017 is as follows:
|  | Successor |
|  | March 31, |  |  | December 31, |
(In thousands) |  | 2018 |  |  | 2017 |
Deposits |  | $ | 1,634 |  |  |  | 1,780 |
Investments held in rabbi trust (A) |  |  | 8,809 |  |  |  | 8,908 |
Prepaid expenses |  |  | 7,738 |  |  |  | 8,442 |
|  | $ | 18,181 |  |  |  | 19,130 |
| (A) | The company converted all investments held in the rabbi trust to cash to fund a lump sum benefit to the former CEO in May 2018. Refer to Note (6) for more information regarding this payment.
A summary of net properties and equipment at March 31, 2018 and December 31, 2017 is as follows:
|  | Successor |
|  | March 31, |  |  | December 31, |
(In thousands) |  | 2018 |  |  | 2017 |
Properties and equipment: |  |  |  |  |  |  |  |
Vessels and related equipment |  | $ | 836,666 |  |  |  | 850,268 |
Other properties and equipment |  |  | 5,536 |  |  |  | 5,710 |
|  |  | 842,202 |  |  |  | 855,978 |
Less accumulated depreciation and amortization |  |  | 27,939 |  |  |  | 18,458 |
Net properties and equipment |  | $ | 814,263 |  |  |  | 837,520 |
A summary of other assets at March 31, 2018 and December 31, 2017 is as follows:
|  | Successor |
|  | March 31, |  |  | December 31, |
(In thousands) |  | 2018 |  |  | 2017 |
Recoverable insurance losses |  | $ | 2,495 |  |  |  | 2,405 |
Investments held for supplemental savings plan accounts |  |  | 6,554 |  |  |  | 6,583 |
Long-term deposits |  |  | 16,035 |  |  |  | 16,217 |
Other |  |  | 5,699 |  |  |  | 5,847 |
|  | $ | 30,783 |  |  |  | 31,052 |
A summary of accrued expenses at March 31, 2018 and December 31, 2017 is as follows:
|  | Successor |
|  | March 31, |  |  | December 31, |
(In thousands) |  | 2018 |  |  | 2017 |
Payroll and related payables (B) |  | $ | 17,369 |  |  |  | 17,344 |
Commissions payable (C) |  |  | 2,146 |  |  |  | 1,898 |
Accrued vessel expenses |  |  | 28,876 |  |  |  | 27,222 |
Accrued interest expense |  |  | 5,958 |  |  |  | 6,036 |
Other accrued expenses |  |  | 2,059 |  |  |  | 2,306 |
|  | $ | 56,408 |  |  |  | 54,806 |
| (B) | Includes an $8.9 million payable to the former CEO which was paid in May 2018.
| (C) | Excludes $37.6 million and $36.4 million of commissions due to Sonatide at March 31, 2018 and December 31, 2017,
respectively. These amounts are included in amounts due to affiliate. A summary of other current liabilities at March 31, 2018 and December 31, 2017 is as follows:
|  | Successor |
|  | March 31, |  |  | December 31, |
(In thousands) |  | 2018 |  |  | 2017 |
Taxes payable |  | $ | 6,341 |  |  |  | 10,326 |
Amounts payable to holders of General Unsecured Claims |  |  | — |  |  |  | 8,474 |
Other |  |  | 2,485 |  |  |  | 893 |
|  | $ | 8,826 |  |  |  | 19,693 |
A summary of other liabilities at March 31, 2018 and December 31, 2017 is as follows:
|  | Successor |
|  | March 31, |  |  | December 31, |
(In thousands) |  | 2018 |  |  | 2017 |
Postretirement benefits liability |  | $ | 2,524 |  |  |  | 2,642 |
Pension liabilities |  |  | 36,420 |  |  |  | 36,614 |
Deferred supplemental savings plan liability |  |  | 6,557 |  |  |  | 6,592 |
Other |  |  | 12,559 |  |  |  | 12,728 |
|  | $ | 58,060 |  |  |  | 58,576 |

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