NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

9 Months Ended

Dec. 31, 2017

Summaries of Net Properties and Equipment

The following are summaries of net properties and equipment:

	Successor				Predecessor
	December 31,				March 31,
(In thousands)	2017				2017
Properties and equipment:
Vessels and related equipment			$	850,268			$	3,407,760
Other properties and equipment				5,710				69,670
				855,978				3,477,430
Less accumulated depreciation and amortization				18,458				612,668
Net properties and equipment			$	837,520			$	2,864,762

	Successor				Predecessor
	December 31,				March 31,
	2017				2017
	Number Of Vessels (B)		Carrying Value		Number Of Vessels (B)		Carrying Value
			(In thousands)				(In thousands)
Owned vessels in active service		138	$	632,978		143	$	1,990,049
Stacked vessels		89		189,710		101		793,606
Marine equipment and other assets under construction				9,501				53,611
Other property and equipment (A)				5,331				27,496
Totals		227	$	837,520		244	$	2,864,762

(A)

Other property and equipment at March 31, 2017 includes eight remotely operated vehicles, all of which were sold in December 2017.

(B)

Vessel count excludes vessels operated under sale leaseback agreements.

Current and Long-Term Liabilities Related to Accrued Property and Liability Losses

The following table discloses the total amount of current and long-term liabilities related to accrued property and liability losses not subject to reinsurance recoverability, but considered payable:

	Successor		Predecessor
	December 31,		March 31,
(In thousands)	2017		2017
Accrued property and liability losses	$	5,056		13,792