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Summary of Unaudited Pro Forma Balance Sheet (Detail)
$ in Thousands
Jun. 30, 2017
USD ($)
Current assets:  
Investments in, at equity, and advances to unconsolidated companies $ (26,754) [1]
Net properties and equipment (1,962,940) [1]
Total assets (1,989,694) [1]
Current liabilities:  
Other current liabilities (423) [1]
Total current liabilities (423) [1]
Long-term debt (969) [1]
Other liabilities and deferred credits (3,315) [1]
Equity:  
Total stockholders’ equity (1,982,022) [1]
Noncontrolling interests (2,965) [1]
Total equity (1,984,987) [1]
Total liabilities and equity (1,989,694) [1]
Predecessor  
Current assets:  
Cash and cash equivalents 683,778
Other current assets 435,138
Total current assets 1,118,916
Investments in, at equity, and advances to unconsolidated companies 49,216
Net properties and equipment 2,659,314
Other assets 92,134
Total assets 3,919,580
Current liabilities:  
Current portion of long-term debt 10,106
Other current liabilities 250,066
Total current liabilities 260,172
Long-term debt 80,863
Accrued property and liability losses 2,776
Other liabilities and deferred credits 60,382
Liabilities subject to compromise 2,389,557
Equity:  
Total stockholders’ equity 1,110,865
Noncontrolling interests 14,965
Total equity 1,125,830
Total liabilities and equity 3,919,580
Reorganization Adjustments  
Current assets:  
Cash and cash equivalents (225,000) [2]
Other current assets (12,400) [2]
Total current assets (237,400) [2]
Total assets (237,400) [2]
Current liabilities:  
Long-term debt 350,000 [2]
Liabilities subject to compromise (2,389,557) [2]
Equity:  
Total stockholders’ equity 1,802,157 [2]
Total equity 1,802,157 [2]
Total liabilities and equity (237,400) [2]
Successor  
Current assets:  
Cash and cash equivalents 458,778
Other current assets 422,738
Total current assets 881,516
Investments in, at equity, and advances to unconsolidated companies 22,462
Net properties and equipment 696,374
Other assets 92,134
Total assets 1,692,486
Current liabilities:  
Current portion of long-term debt 10,106
Other current liabilities 249,643
Total current liabilities 259,749
Long-term debt 429,894
Accrued property and liability losses 2,776
Other liabilities and deferred credits 57,067
Equity:  
Total stockholders’ equity 931,000
Noncontrolling interests 12,000
Total equity 943,000
Total liabilities and equity $ 1,692,486
[1] Fresh start adjustments include revaluations of fixed assets, consisting primarily of the company’s vessel fleet, the company’s investment in unconsolidated subsidiaries and noncontrolling interests to their estimated fair values upon the date of emergence as well as the recognition of the predecessor’s other deferred gains and remaining debt issue costs associated with the remaining Troms borrowings as reorganization items. The estimated fair values require significant judgments and estimates and the proforma successor balance sheet reflects only those estimates reasonably determined at the time of this filing.
[2] Reorganization adjustments include restructuring transactions to recognize approximately $12.4 million of previously deposited success fees, replace debt claims with new debt, equity and cash, recognize a gain on debt extinguishment, and the cancellation of Predecessor equity.