Income Tax (Provision) Benefit (Tables)

6 Months Ended

Sep. 30, 2012

Income Tax (Provision) Benefit [Abstract]

Components of income tax benefit

	Three Months Ended September 30,					Six Months Ended September 30,
(in thousands)	2012			2011		2012		2011
Current	$	—		$	—	$	—	$	—
Deferred		(20,318	)		—		88,265		—
Total	$	(20,318	)	$	—	$	88,265	$	—

Summary of deferred taxes

(in thousands)
Deferred tax assets:
Reserves for expected costs of liquidation	$	19,482
Net operating losses		15,571
Gross deferred tax assets		35,053
Deferred tax liabilities:
Fair value in excess of tax basis of holdings of New GM Securities		(55,371	)
Gross deferred tax liabilities		(55,371	)
Net deferred tax liability	$	(20,318	)