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OTHER CURRENT ASSETS, OTHER ASSETS, ACCRUED EXPENSES, OTHER CURRENT LIABILITIES, AND OTHER LIABILITIES AND DEFERRED CREDITS | 6 Months Ended | 12 Months Ended
--- | --- | ---
Jun. 30, 2018 | Dec. 31, 2017
Other Current Assets Other Assets Accrued Expenses Other Current Liabilities And Other Non Current Liabilities And Deferred Credits [Abstract] |  |
OTHER CURRENT ASSETS, 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 |
(In thousands) |  | June 30, 2018 |  |  | December 31, 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 |
(In thousands) |  | June 30, 2018 |  |  | December 31, 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 |
(In thousands) |  | June 30, 2018 |  |  | December 31, 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 |
(In thousands) |  | June 30, 2018 |  |  | December 31, 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 |
(In thousands) |  | June 30, 2018 |  |  | December 31, 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 |
(In thousands) |  | June 30, 2018 |  |  | December 31, 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 |
(9) | OTHER CURRENT ASSETS, OTHER ASSETS, ACCRUED EXPENSES, OTHER CURRENT LIABILITIES, AND OTHER LIABILITIES AND DEFERRED CREDITS
A summary of other current assets is as follows:
|  | Successor |  |  | Predecessor |
(In thousands) |  | December 31, 2017 |  |  | March 31, 2017 |
Deposits |  | $ | 1,780 |  |  |  | 3,057 |
Reorganization related retainer payments |  |  | 50 |  |  |  | 3,938 |
Investments held in rabbi trust(A) |  |  | 8,908 |  |  |  | — |
Prepaid expenses |  |  | 8,392 |  |  |  | 11,414 |
|  | $ | 19,130 |  |  |  | 18,409 |
(A) | The company plans to liquidate the rabbi trust (valued at $8.9 million as of December 31, 2017) in advance of paying a lump sum benefit to the former CEO in April 2018 of $9.6 million.
A summary of other assets is as follows:
|  | Successor |  |  | Predecessor |
(In thousands) |  | December 31, 2017 |  |  | March 31, 2017 |
Recoverable insurance losses |  | $ | 2,405 |  |  |  | 10,142 |
Deferred income tax assets |  |  | — |  |  |  | 39,134 |
Investments held for savings plans and SERP |  |  | 6,583 |  |  |  | 14,835 |
Accumulated costs of rejected vessel(B) |  |  | — |  |  |  | 48,382 |
Long-term deposits |  |  | 16,217 |  |  |  | 15,162 |
Other |  |  | 5,847 |  |  |  | 11,880 |
|  | $ | 31,052 |  |  |  | 139,535 |
(B) | Refer to Note (14) of “Notes to Consolidated Financial Statements” included in this prospectus for additional information regarding the vessel rejected at the time of delivery.
A summary of accrued expenses is as follows:
|  | Successor |  |  | Predecessor |
(In thousands) |  | December 31, 2017 |  |  | March 31, 2017 |
Payroll and related payables(C) |  | $ | 17,344 |  |  |  | 10,465 |
Commissions payable(D) |  |  | 1,898 |  |  |  | 2,143 |
Accrued vessel expenses |  |  | 27,222 |  |  |  | 41,580 |
Accrued interest expense(E) |  |  | 6,036 |  |  |  | 15,021 |
Other accrued expenses |  |  | 2,306 |  |  |  | 8,912 |
|  | $ | 54,806 |  |  |  | 78,121 |
(C) | Includes a $9.6 million payable related to a lump sum payment to the former CEO which is expected to be paid in April 2018.
(D) | Excludes $36.4 million and $34.7 million of commissions due to Sonatide at December 31, 2017 and March 31, 2017, respectively. These amounts are included in amounts due to affiliates.
(E) | Accrued interest as of December 31, 2017, reflects the company’s post-restructuring capital structure which includes debt of $448.2 million.
A summary of other current liabilities is as follows:
|  | Successor |  |  | Predecessor |
(In thousands) |  | December 31, 2017 |  |  | March 31, 2017 |
Taxes payable |  | $ | 10,326 |  |  |  | 23,497 |
Deferred gain on vessel sales—current(F) |  |  | — |  |  |  | 23,798 |
Amounts payable to holders of General Unsecured Claims(G) |  |  | 8,474 |  |  |  | — |
Other |  |  | 893 |  |  |  | 1,134 |
|  | $ | 19,693 |  |  |  | 48,429 |
(F) | 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.”
(G) | Remaining payable to holders of General Unsecured Claims which was paid in January 2018.
A summary of other liabilities and deferred credits is as follows:
|  | Successor |  |  | Predecessor |
(In thousands) |  | December 31, 2017 |  |  | March 31, 2017 |
Postretirement benefits liability |  | $ | 2,642 |  |  |  | 4,394 |
Pension liabilities |  |  | 36,614 |  |  |  | 40,339 |
Deferred gain on vessel sales(H) |  |  | — |  |  |  | 88,923 |
Other |  |  | 19,320 |  |  |  | 21,049 |
|  | $ | 58,576 |  |  |  | 154,705 |
(H) | 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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