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INDEBTEDNESS (Tables)

9 Months Ended

Dec. 31, 2017

Summary of Debt Outstanding

The following table summarizes debt outstanding based on stated maturities:

		Successor					Predecessor
		December 31,					March 31,
(In thousands)		2017					2017
Bank loan agreement:
Bank term loan due July 2019		$	—					300,000
Revolving line of credit due July 2019			—					600,000
September 2010 senior notes:
3.90% September 2010 senior notes due December 2017			—					44,500
3.95% September 2010 senior notes due December 2017			—					25,000
4.12% September 2010 senior notes due December 2018			—					25,000
4.17% September 2010 senior notes due December 2018			—					25,000
4.33% September 2010 senior notes due December 2019			—					50,000
4.51% September 2010 senior notes due December 2020			—					100,000
4.56% September 2010 senior notes due December 2020			—					65,000
4.61% September 2010 senior notes due December 2022			—					48,000
August 2011 senior notes:
4.06% August 2011 senior notes due March 2019			—					50,000
4.54% August 2011 senior notes due June 2021			—					65,000
4.64% August 2011 senior notes due June 2021			—					50,000
September 2013 senior notes:
4.26% September 2013 senior notes due November 2020			—					123,000
5.01% September 2013 senior notes due November 2023			—					250,000
5.16% September 2013 senior notes due November 2025			—					127,000
New secured notes:
8.00% New secured notes due August 2022			350,000					—
New secured notes - premium			14,329					—
Troms Offshore borrowings:
NOK denominated notes due May 2024			14,054					14,864
NOK denominated notes due May 2024 - premium			115					—
NOK denominated notes due January 2026			25,965					26,167
NOK denominated notes due January 2026 - discount			(1,586	)				—
USD denominated notes due January 2027			23,345					24,573
USD denominated notes due January 2027 - discount			(1,678	)				—
USD denominated notes due April 2027			25,463					27,421
USD denominated notes due April 2027 - discount			(1,847	)				—
		$	448,160					2,040,525
Less: Deferred debt issue costs			—					6,401
Less: Current portion of long-term debt			5,103					2,034,124
Total long-term debt		$	443,057					—

Debt Costs

Interest and debt costs incurred, net of interest capitalized are as follows:

		Successor					Predecessor
		Period from					Period from
		August 1, 2017					April 1, 2017
		through					through				Year Ended
(In thousands)		December 31, 2017					July 31, 2017				March 31, 2017
Interest and debt costs incurred, net of interest capitalized		$	13,009					11,179				75,026
Interest costs capitalized			101					601				4,829
Total interest and debt costs		$	13,110					11,780				79,855

September 2013 Senior Notes

Schedule of Aggregate Amount of Senior Unsecured Notes Outstanding

A summary of these notes is as follows:

		Successor					Predecessor
		December 31,					March 31,
(In thousands, except weighted average data)		2017					2017
Aggregate debt outstanding		$	—					500,000
Weighted average remaining life in years			—					6.4
Weighted average coupon rate on notes outstanding			—					4.86	%
Fair value of debt outstanding			—					280,000

August 2011 Senior Notes

Schedule of Aggregate Amount of Senior Unsecured Notes Outstanding

A summary of these notes is as follows

		Successor					Predecessor
		December 31,					March 31,
(In thousands, except weighted average data)		2017					2017
Aggregate debt outstanding		$	—					165,000
Weighted average remaining life in years			—					3.6
Weighted average coupon rate on notes outstanding			—					4.42	%
Fair value of debt outstanding			—					92,400

September 2010 Senior Notes

Schedule of Aggregate Amount of Senior Unsecured Notes Outstanding

A summary of these notes is as follows:

		Successor					Predecessor
		December 31,					March 31,
(In thousands, except weighted average data)		2017					2017
Aggregate debt outstanding		$	—					382,500
Weighted average remaining life in years			—					3.1
Weighted average coupon rate on notes outstanding			—					4.35	%
Fair value of debt outstanding			—					214,200

Troms Offshore Supply AS

Summary of Debt Outstanding

A summary of NOK denominated Troms Offshore borrowings outstanding and their U.S. dollar equivalents is as follows:

		Successor					Predecessor
		December 31,					March 31,
(In thousands)		2017					2017
January 2014 notes:
NOK denominated			212,500					225,000
U.S. dollar equivalent		$	25,965					26,167
Fair value in U.S. dollar equivalent (Level 2)			25,850					26,133
May 2012 notes:
NOK denominated			115,020					127,800
U.S. dollar equivalent		$	14,054					14,864
Fair value in U.S. dollar equivalent (Level 2)			14,013					14,793

Schedule of Aggregate Amount of Senior Unsecured Notes Outstanding

A summary of U.S. dollar denominated Troms Offshore borrowings outstanding is as follows:

		Successor					Predecessor
		December 31,					March 31,
(In thousands)		2017					2017
May 2015 notes
Amount outstanding		$	25,463					27,421
Fair value of debt outstanding (Level 2)			25,427					27,395
March 2015 notes
Amount outstanding		$	23,345					24,573
Fair value of debt outstanding (Level 2)			23,251					24,544

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Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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