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INCOME TAXES (Tables) | 6 Months Ended | 12 Months Ended
--- | --- | ---
Jun. 30, 2018 | Dec. 31, 2017
Income Tax Disclosure [Abstract] |  |
Earnings Before Income Taxes Derived from United States and Non-U.S. Operations |  | Earnings before income taxes derived from United States and non-U.S. operations are as follows:
|  | Successor |  |  | Predecessor |
(In thousands) |  | Period from August 1, 2017 through December 31, 2017 |  |  | Period from April 1, 2017 through July 31, 2017 |  |  | Year Ended March 31, 2017 |
Non-U.S. |  | $ | (5,137 | ) |  |  | (1,603,788 | ) |  |  | (498,931 | )
United States |  |  | (31,550 | ) |  |  | (44,355 | ) |  |  | (144,683 | )
|  | $ | (36,687 | ) |  |  | (1,648,143 | ) |  |  | (643,614 | )
Income Tax Expense (Benefit) |  | Income tax expense (benefit) consists of the following:
|  | U.S. |  |  |  |  |  |  |
(In thousands) |  | Federal |  |  | State |  |  | International |  |  | Total |
Year Ended March 31, 2017 (Predecessor) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  | $ | (842 | ) |  |  | 17 |  |  |  | 9,422 |  |  |  | 8,597 |
Deferred |  |  | (2,200 | ) |  |  | — |  |  |  | — |  |  |  | (2,200 | )
|  | $ | (3,042 | ) |  |  | 17 |  |  |  | 9,422 |  |  |  | 6,397 |
Period from April 1, 2017 through July 31, 2017 (Predecessor) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  | $ | (822 | ) |  |  | 3 |  |  |  | 5,128 |  |  |  | 4,309 |
Deferred |  |  | (5,543 | ) |  |  | — |  |  |  | — |  |  |  | (5,543 | )
|  | $ | (6,365 | ) |  |  | 3 |  |  |  | 5,128 |  |  |  | (1,234 | )
Period from August 1, 2017 through December 31, 2017 (Successor) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  | $ | 11 |  |  |  | — |  |  |  | 2,028 |  |  |  | 2,039 |
Deferred |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
|  | $ | 11 |  |  |  | — |  |  |  | 2,028 |  |  |  | 2,039 |
Tax Rate Applicable to Pre-Tax Earnings |  | The actual income tax expense above differs from the amounts computed by applying the U.S. federal statutory tax rate of 35% to pre-tax earnings as a result of the following:
|  | Successor |  |  | Predecessor |
(In thousands) |  | Period from August 1, 2017 through December 31, 2017 |  |  | Period from April 1, 2017 through July 31, 2017 |  |  | Year Ended March 31, 2017 |
Computed “expected” tax expense |  | $ | (12,840 | ) |  |  | (576,850 | ) |  |  | (225,265 | )
Increase (reduction) resulting from: |  |  |  |  |  |  |  |  |  |  |  |
Foreign income taxed at different rates |  |  | 1,767 |  |  |  | 448,805 |  |  |  | 232,904 |
Uncertain tax positions |  |  | (3,219 | ) |  |  | 4,674 |  |  |  | 3,007 |
Chapter 11 reorganization |  |  | — |  |  |  | 50,428 |  |  |  | — |
Nondeductible transaction costs |  |  | — |  |  |  | 2,628 |  |  |  |  |
Transition tax |  |  | 15,120 |  |  |  | — |  |  |  | 5,587 |
Valuation allowance—deferred tax assets |  |  | (28,387 | ) |  |  | 69,278 |  |  |  | (2,377 | )
Amortization of deferrals associated with intercompany sales to foreign tax jurisdictions |  |  | 11 |  |  |  | (822 | ) |  |  | (3,860 | )
Foreign taxes |  |  | 845 |  |  |  | (1,342 | ) |  |  | (928 | )
State taxes |  |  | — |  |  |  | 3 |  |  |  | 11 |
Other, net |  |  | 1,481 |  |  |  | 1,964 |  |  |  | — |
Remeasurement of deferred taxes |  |  | 27,261 |  |  |  | — |  |  |  | (2,682 | )
|  | $ | 2,039 |  |  |  | (1,234 | ) |  |  | 6,397 |
Schedule of Effective Tax Rate Applicable to Pre-Tax Earnings |  | The effective tax rate applicable to pre-tax earnings is as follows:
|  | Successor |  |  | Predecessor |
|  | Period from August 1, 2017 through December 31, 2017 |  |  | Period from April 1, 2017 through July 31, 2017 |  |  | Year Ended March 31, 2017 |
Effective tax rate applicable to pre-tax earnings |  |  | (5.50 | %) |  |  | 0.10 | % |  |  | (0.99 | %)
Schedule of Significant Portions of Deferred Tax Assets and Deferred Tax Liabilities |  | The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities are as follows:
|  | Successor |  |  | Predecessor |
(In thousands) |  | December 31, 2017 |  |  | March 31, 2017 |
Deferred tax assets: |  |  |  |  |  |  |  |
Accrued employee benefit plan costs |  | $ | 5,838 |  |  |  | 18,241 |
Stock based compensation |  |  | 230 |  |  |  | 2,940 |
Net operating loss and tax credit carryforwards |  |  | 3,941 |  |  |  | 14,693 |
Restructuring fees not currently deductible for tax purposes |  |  | 3,982 |  |  |  | — |
Depreciation and amortization |  |  | 29,160 |  |  |  | — |
Other |  |  | 3,070 |  |  |  | 5,587 |
Gross deferred tax assets |  |  | 46,221 |  |  |  | 41,461 |
Less valuation allowance |  |  | (43,218 | ) |  |  | (2,327 | )
Net deferred tax assets |  |  | 3,003 |  |  |  | 39,134 |
Deferred tax liabilities: |  |  |  |  |  |  |  |
Basis difference in partnership |  |  | (716 | ) |  |  | (17,322 | )
Depreciation and amortization |  |  | — |  |  |  | (27,355 | )
Section 1245 recapture |  |  | (2,131 | ) |  |  |  |
Other |  |  | (156 | ) |  |  | — |
Gross deferred tax liabilities |  |  | (3,003 | ) |  |  | (44,677 | )
Net deferred tax assets (liabilities) |  | $ | — |  |  |  | (5,543 | )
Schedule of Tax Credit Carry-Forwards |  | The company has the following foreign tax credit carry-forwards that expire in 2022:
|  | Successor |
(In thousands) |  | December 31, 2017 |
Foreign tax credit carry-forwards |  | $ | 2,327 |
Schedule of Uncertain Tax Positions and Income Tax Payable | The company’s balance sheet at June 30, 2018, reflects the following in accordance with Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) 740, Income Taxes:
(In thousands) |  | June 30, 2018 |
Tax liabilities for uncertain tax positions |  | $ | 19,626 |
Income tax payable |  | $ | 8,995 |
Income tax receivable |  | $ | 7,814 |
| The company’s balance sheet reflects the following in accordance with ASC 740, Income Taxes:
|  | Successor |  |  | Predecessor |
(In thousands) |  | December 31, 2017 |  |  | March 31, 2017 |
Tax liabilities for uncertain tax positions |  | $ | 18,279 |  |  |  | 11,751 |
Income tax payable |  |  | 4,050 |  |  |  | 13,936 |
Schedule of Unrecognized Tax Benefits Which Would Lower Effective Tax Rate if Realized | Unrecognized tax benefits, which would lower the effective tax rate if realized at June 30, 2018, are as follows:
(In thousands) |  | June 30, 2018 |
Unrecognized tax benefit related to state tax issues |  | $ | 12,425 |
Interest receivable on unrecognized tax benefit related to state tax issues |  | $ | 58 |
| Unrecognized tax benefits, which are not included in the liability for uncertain tax positions above as they have not been recognized in previous tax filings, and which would lower the effective tax rate if realized are as follows:
|  | Successor |
(In thousands) |  | December 31, 2017 |
Unrecognized tax benefit related to state tax issues |  | $ | 12,425 |
Interest receivable on unrecognized tax benefit related to state tax issues |  |  | 54 |
Schedule of Reconciliation of Unrecognized Tax Benefits |  | A reconciliation of the beginning and ending amount of all unrecognized tax benefits, including the unrecognized tax benefit related to state tax issues and the liability for uncertain tax positions (but excluding related penalties and interest) are as follows:
(In thousands) |  |  |
Balance at April 1, 2016 (Predecessor) |  | $ | 17,648 |
Additions based on tax positions related to the current year |  |  | 4,853 |
Settlement and lapse of statute of limitations |  |  | (1,108 | )
Balance at March 31, 2017 (Predecessor) |  | $ | 21,393 |
Balance at April 1, 2017 (Predecessor) |  | $ | 21,393 |
Additions based on tax positions related to the current year |  |  | 2,050 |
Settlement and lapse of statute of limitations |  |  | — |
Balance at July 31, 2017 (Predecessor) |  | $ | 23,443 |
Balance at August 1, 2017 (Successor) |  | $ | 23,443 |
Additions based on tax positions related to the current year |  |  | 170 |
Additions based on tax positions related to a prior year |  |  | 2,578 |
Settlement and lapse of statute of limitations |  |  | (1,045 | )
Reductions based on tax positions related to a prior year |  |  | (2,864 | )
Balance at December 31, 2017 (Successor) |  | $ | 22,282 |

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- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32639-109319 + Details
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