|12 Months Ended|
Dec. 31, 2016
As discussed in Note 4, all of our Predecessor preferred stock was canceled upon our emergence from bankruptcy on the Effective Date. As of December 31, 2016, there were 5,000,000 Successor shares of preferred stock authorized with none issued or outstanding.
As discussed in Note 4, all our Predecessor common stock was canceled upon our emergence from bankruptcy on the Effective Date and 14,992,018 shares of New Common Stock were issued with a par value of $0.01 per share. We have a total of 45,000,000 shares authorized. We do not anticipate that cash dividends or other distributions will be paid with respect to our common stock in the foreseeable future. In addition, our Credit Facility has restrictive covenants that limit our ability to pay dividends.
Accumulated Other Comprehensive Income
Accumulated other comprehensive income and losses are entirely attributable to our pension and postretirement health care benefit obligations. The accumulated other comprehensive income, net of tax, was $0.1 million, less than $0.1 million, $0.4 million and $0.2 million as of December 31, 2016, September 12, 2016 and December 31, 2015 and 2014, respectively.
Shares of our Predecessor common stock held by the SERP and Predecessor deferred common stock units that had not been converted into Predecessor common stock were previously presented for financial reporting purposes as treasury stock carried at cost. A total of 455,689 Predecessor shares were recorded as treasury stock as of December 31, 2015. As discussed above, all of the Predecessor common stock held by the SERP and Predecessor deferred common stock units were canceled upon our emergence from bankruptcy on the Effective Date.
The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.
Reference 1: http://www.xbrl.org/2003/role/presentationRef