OTHER CURRENT ASSETS, OTHER ASSETS, ACCRUED EXPENSES, OTHER CURRENT LIABILITIES AND OTHER LIABILITIES AND DEFERRED CREDITS |
(9) |
OTHER CURRENT ASSETS, OTHER ASSETS, ACCRUED EXPENSES, OTHER CURRENT LIABILITIES AND OTHER LIABILITIES AND DEFERRED CREDITS |
A summary of other current assets at December 31, 2015 and March 31, 2015 is as follows:
|
|
December 31, |
|
|
March 31, |
|
(In thousands) |
|
2015 |
|
|
2015 |
|
Deposits on vessel construction options (A) |
|
$ |
44,748 |
|
|
|
— |
|
Deposits - general |
|
|
7,017 |
|
|
|
7,381 |
|
Prepaid expenses |
|
|
9,054 |
|
|
|
10,400 |
|
|
|
$ |
60,819 |
|
|
|
17,781 |
|
|
(A) |
Refer to Note (7) for additional discussion regarding the vessels under construction with option agreements. |
A summary of other assets at December 31, 2015 and March 31, 2015 is as follows:
|
|
December 31, |
|
|
March 31, |
|
(In thousands) |
|
2015 |
|
|
2015 |
|
Recoverable insurance losses |
|
$ |
9,682 |
|
|
|
10,468 |
|
Deferred income tax assets |
|
|
31,136 |
|
|
|
19,004 |
|
Deferred finance charges – revolver |
|
|
7,125 |
|
|
|
7,396 |
|
Savings plans and supplemental plan |
|
|
14,984 |
|
|
|
23,208 |
|
Other |
|
|
19,423 |
|
|
|
15,120 |
|
|
|
$ |
82,350 |
|
|
|
75,196 |
|
A summary of accrued expenses at December 31, 2015 and March 31, 2015 is as follows:
|
|
December 31, |
|
|
March 31, |
|
(In thousands) |
|
2015 |
|
|
2015 |
|
Payroll and related payables |
|
$ |
22,405 |
|
|
|
32,041 |
|
Commissions payable (A) |
|
|
7,197 |
|
|
|
8,282 |
|
Accrued vessel expenses |
|
|
53,414 |
|
|
|
79,549 |
|
Accrued interest expense |
|
|
4,791 |
|
|
|
14,514 |
|
Other accrued expenses |
|
|
8,797 |
|
|
|
11,869 |
|
|
|
$ |
96,604 |
|
|
|
146,255 |
|
|
(B) |
Excludes $27.3 million and $46.3 million of commissions due to Sonatide at December 31, 2015 and March 31, 2015, respectively. These amounts are included in amounts due to affiliate. |
A summary of other current liabilities at December 31, 2015 and March 31, 2015 is as follows:
|
|
December 31, |
|
|
March 31, |
|
(In thousands) |
|
2015 |
|
|
2015 |
|
Taxes payable |
|
$ |
41,480 |
|
|
|
56,620 |
|
Deferred gain on vessel sales - current |
|
|
24,403 |
|
|
|
25,057 |
|
Other |
|
|
370 |
|
|
|
784 |
|
|
|
$ |
66,253 |
|
|
|
82,461 |
|
A summary of other liabilities and deferred credits at December 31, 2015 and March 31, 2015 is as follows:
|
|
December 31, |
|
|
March 31, |
|
(In thousands) |
|
2015 |
|
|
2015 |
|
Postretirement benefits liability |
|
$ |
20,651 |
|
|
|
23,018 |
|
Pension liabilities |
|
|
42,773 |
|
|
|
41,279 |
|
Deferred gain on vessel sales |
|
|
118,420 |
|
|
|
136,238 |
|
Other |
|
|
28,395 |
|
|
|
34,573 |
|
|
|
$ |
210,239 |
|
|
|
235,108 |
|
|