Income Tax Benefit (Tables)

12 Months Ended

Mar. 31, 2016

Deferred taxes in the accompanying Statement of Net Assets in Liquidation at March 31, 2016 and 2015 are comprised of the following components:


(in thousands)	2016			2015
Deferred tax assets:
Reserves for expected costs of liquidation	$	9,421		$	10,066
Net operating and capital loss carryovers		112,442			108,227

Gross deferred tax assets		121,863			118,293
Less: Valuation allowance		(121,486	)		(35,966	)

Deferred tax asset, net of valuation allowance		377			82,327
Deferred tax liabilities:
Fair value in excess of tax basis of holdings of New GM Securities		(—	)		(71,560	)
Accrued investment income		(377	)		(10,767	)

Gross deferred tax liabilities		(377	)		(82,327	)

Net deferred taxes	$	—		$	—