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OTHER CURRENT ASSETS, PROPERTIES AND EQUIPMENT, OTHER ASSETS, ACCRUED EXPENSES, OTHER CURRENT LIABILITIES AND OTHER LIABILITIES AND DEFERRED CREDITS | 6 Months Ended
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Jun. 30, 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 |
(12) | OTHER CURRENT ASSETS, PROPERTIES AND EQUIPMENT, OTHER ASSETS, ACCRUED EXPENSES, OTHER CURRENT LIABILITIES AND OTHER LIABILITIES
A summary of other current assets at June 30, 2018 and December 31, 2017 is as follows:
|  | Successor |
|  | June 30, |  |  | December 31, |
(In thousands) |  | 2018 |  |  | 2017 |
Deposits |  | $ | 2,151 |  |  |  | 1,780 |
Investments held in rabbi trust (A) |  |  | 45 |  |  |  | 8,908 |
Prepaid expenses |  |  | 8,017 |  |  |  | 8,442 |
|  | $ | 10,213 |  |  |  | 19,130 |
| (A) | The company converted substantially 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 June 30, 2018 and December 31, 2017 is as follows:
|  | Successor |
|  | June 30, |  |  | December 31, |
(In thousands) |  | 2018 |  |  | 2017 |
Properties and equipment: |  |  |  |  |  |  |  |
Vessels and related equipment |  | $ | 836,773 |  |  |  | 850,268 |
Other properties and equipment |  |  | 5,481 |  |  |  | 5,710 |
|  |  | 842,254 |  |  |  | 855,978 |
Less accumulated depreciation and amortization |  |  | 38,529 |  |  |  | 18,458 |
Net properties and equipment |  | $ | 803,725 |  |  |  | 837,520 |
A summary of other assets at June 30, 2018 and December 31, 2017 is as follows:
|  | Successor |
|  | June 30, |  |  | December 31, |
(In thousands) |  | 2018 |  |  | 2017 |
Recoverable insurance losses |  | $ | 2,585 |  |  |  | 2,405 |
Investments held for supplemental savings plan accounts |  |  | 5,274 |  |  |  | 6,583 |
Long-term deposits |  |  | 13,763 |  |  |  | 16,217 |
Other |  |  | 5,157 |  |  |  | 5,847 |
|  | $ | 26,779 |  |  |  | 31,052 |
A summary of accrued expenses at June 30, 2018 and December 31, 2017 is as follows:
|  | Successor |
|  | June 30, |  |  | December 31, |
(In thousands) |  | 2018 |  |  | 2017 |
Payroll and related payables (B) |  | $ | 9,004 |  |  |  | 17,344 |
Commissions payable (C) |  |  | 2,488 |  |  |  | 1,898 |
Accrued vessel expenses |  |  | 28,701 |  |  |  | 27,222 |
Accrued interest expense |  |  | 5,958 |  |  |  | 6,036 |
Other accrued expenses |  |  | 3,161 |  |  |  | 2,306 |
|  | $ | 49,312 |  |  |  | 54,806 |
| (B) | The balance at December 31, 2017 includes $8.9 million payable to the former CEO, which was paid in May 2018.
| (C) | Excludes $30.2 million and $36.4 million of commissions due to Sonatide at June 30, 2018 and December 31, 2017,
respectively. These amounts are included in amounts due to affiliates. A summary of other current liabilities at June 30, 2018 and December 31, 2017 is as follows:
|  | Successor |
|  | June 30, |  |  | December 31, |
(In thousands) |  | 2018 |  |  | 2017 |
Taxes payable |  | $ | 15,988 |  |  |  | 10,326 |
Amounts payable to holders of General Unsecured Claims |  |  | — |  |  |  | 8,474 |
Other |  |  | 1,827 |  |  |  | 893 |
|  | $ | 17,815 |  |  |  | 19,693 |
A summary of other liabilities at June 30, 2018 and December 31, 2017 is as follows:
|  | Successor |
|  | June 30, |  |  | December 31, |
(In thousands) |  | 2018 |  |  | 2017 |
Postretirement benefits liability |  | $ | 2,420 |  |  |  | 2,642 |
Pension liabilities |  |  | 36,526 |  |  |  | 36,614 |
Deferred supplemental savings plan liability |  |  | 5,277 |  |  |  | 6,592 |
Other |  |  | 13,462 |  |  |  | 12,728 |
|  | $ | 57,685 |  |  |  | 58,576 |

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