Macquarie Infrastructure 10-Q 3 Aug 15 2015 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - $ / shares	6 Months Ended
	Jun. 30, 2015	Jul. 31, 2015
Document Documentand Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q2
Trading Symbol	MIC
Entity Registrant Name	Macquarie Infrastructure Corp
Entity Central Index Key	1,289,790
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		79,590,014
Common stock, par value per share	$ 0.001	$ 0.001

CONSOLIDATED CONDENSED BALANCE

CONSOLIDATED CONDENSED BALANCE SHEETS - USD ($) $ in Thousands		Jun. 30, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents		$ 168,184	$ 48,014
Restricted cash		21,060	21,282
Accounts receivable, less allowance for doubtful accounts of $1,513 and $771, respectively		115,019	96,885
Inventories		31,025	28,080
Prepaid expenses		15,019	14,276
Deferred income taxes		25,412	25,412
Other		28,209	22,941
Total current assets		403,928	256,890
Property, equipment, land and leasehold improvements, net		4,037,977	3,362,585
Investment in unconsolidated business		9,166	9,773
Goodwill		2,019,204	1,996,259
Intangible assets, net		960,076	959,634
Deferred financing costs, net of accumulated amortization		42,541	32,037
Other		19,780	8,010
Total assets		7,492,672	6,625,188
Current liabilities:
Due to manager-related party		142,169	4,858
Accounts payable		53,507	49,733
Accrued expenses		72,810	77,248
Current portion of long-term debt		28,346	27,655
Fair value of derivative instruments		24,846	32,111
Other		33,126	32,727
Total current liabilities		354,804	224,332
Long-term debt, net of current portion		2,782,737	2,364,866
Deferred income taxes		812,312	904,108
Fair value of derivative instruments		23,689	$ 27,724
Tolling agreements - noncurrent		73,800
Other		141,812	$ 133,990
Total liabilities		$ 4,189,154	$ 3,655,020
Commitments and contingencies
Shareholders' equity:
Preferred stock ($0.001 par value; 100,000,000 authorized; no shares issued and outstanding at June 30, 2015)	[1]
Special stock ($0.001 par value; 100 authorized; 100 shares issued and outstanding at June 30, 2015)	[1]
Common stock ($0.001 par value; 500,000,000 authorized; 79,501,783 shares issued and outstanding at June 30, 2015); LLC interests (no par value; 71,089,590 LLC interests issued and outstanding at December 31, 2014)	[1]	$ 79	$ 1,942,745
Additional paid in capital	[1]	2,455,851	21,447
Accumulated other comprehensive loss		(23,975)	(21,550)
Retained earnings		692,423	844,521
Total stockholders' equity		3,124,378	2,787,163
Noncontrolling interests		179,140	183,005
Total equity		3,303,518	2,970,168
Total liabilities and equity		$ 7,492,672	$ 6,625,188
[1]	See Note 9, “Stockholders' Equity”, for discussions on preferred stock, special stock, common stock, LLC interests and additional paid in capital.

CONSOLIDATED CONDENSED BALANCE3

CONSOLIDATED CONDENSED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
CONSOLIDATED CONDENSED BALANCE SHEETS [Abstract]
Accounts receivable, allowance for doubtful accounts	$ 1,513	$ 771
Preferred stock, par value per share	$ 0.001
Preferred stock, authorized	100,000,000
Preferred stock, issued	0
Preferred stock, outstanding	0
Special stock, par value per share	$ 0.001
Special stock, authorized	100
Special stock, issued	100
Special stock, outstanding	100
Common stock, par value per share	$ 0.001
Shares, no par value
Shares, authorized	500,000,000
Shares, issued	79,501,783	71,089,590
Shares, outstanding	79,501,783	71,089,590

CONSOLIDATED CONDENSED STATEMEN

CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Revenue
Service revenue		$ 327,809	$ 205,269	$ 653,811	$ 407,708
Product revenue		$ 95,880	74,964	$ 168,376	147,973
Financing and equipment lease income			710		1,457
Total revenue		$ 423,689	280,943	$ 822,187	557,138
Costs and expenses
Cost of services		148,417	115,497	281,834	228,451
Cost of product sales		45,247	50,597	84,374	100,836
Selling, general and administrative		81,064	56,836	151,717	112,300
Fees to manager-related party		154,559	14,495	319,832	23,489
Depreciation		51,801	12,428	109,223	24,582
Amortization of intangibles		17,902	9,456	65,873	18,221
Loss on disposal of assets		104	866	649	866
Total operating expenses		499,094	260,175	1,013,502	508,745
Operating (loss) income		(75,405)	$ 20,768	(191,315)	$ 48,393
Other income (expense)
Dividend income		267		798
Interest income		7	$ 31	13	$ 95
Interest expense	[1]	$ (22,342)	(17,945)	$ (53,863)	(31,956)
Equity in earnings and amortization charges of investee			10,799		25,086
Other income, net		$ 425	1,576	$ 1,471	2,257
Net (loss) income before income taxes		(97,048)	15,229	(242,896)	43,875
Benefit (provision) for income taxes	[2]	33,531	(5,485)	88,864	(13,971)
Net (loss) income		(63,517)	9,744	(154,032)	29,904
Less: net (loss) income attributable to noncontrolling interests		(421)	44	(1,934)	(162)
Net (loss) income attributable to MIC		$ (63,096)	$ 9,700	$ (152,098)	$ 30,066
Basic (loss) income per common stock attributable to MIC		$ (0.80)	$ 0.17	$ (2)	$ 0.53
Weighted average number of common stock outstanding: basic		79,246,069	56,559,924	76,214,929	56,465,136
Diluted (loss) income per common stock attributable to MIC		$ (0.80)	$ 0.17	$ (2)	$ 0.53
Weighted average number of shares outstanding: diluted		79,246,069	56,572,519	76,214,929	56,477,888
Cash dividends declared per common stock		$ 1.11	$ 0.95	$ 2.18	$ 1.8875
[1]	Interest expense includes gains on derivative instruments of $3.1 million and losses on derivative instruments of $9.8 million for the quarter and six months ended June 30, 2015, respectively. For the quarter and six months ended June 30, 2014, interest expense includes losses on derivative instruments of $8.6 million and $13.9 million, respectively, of which net losses of $269,000 and $508,000, respectively, were reclassified from accumulated other comprehensive loss.
[2]	Includes $107,000 and $202,000 of benefit for income taxes from accumulated other comprehensive loss reclassifications for the quarter and six months ended June 30, 2014, respectively.

CONSOLIDATED CONDENSED STATEME5

CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS [Abstract]
Gains (losses) on derivative instruments	$ 3,100	$ (8,600)	$ (9,800)	$ (13,900)
Net loss in accumulated other comprehensive income reclassifications for cash flow hedges		(269)		(508)
Reclassification of realized losses of derivatives into earnings, taxes		$ 107		$ 202

CONSOLIDATED CONDENSED STATEME6

CONSOLIDATED CONDENSED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
CONSOLIDATED CONDENSED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME [Abstract]
Net (loss) income		$ (63,517)	$ 9,744	$ (154,032)	$ 29,904
Other comprehensive income (loss), net of taxes:
Reclassification of realized losses of derivatives into earnings	[1]		171		321
Translation adjustment	[2]		289	$ (4,051)	4
Other comprehensive income (loss)			460	(4,051)	325
Comprehensive (loss) income		$ (63,517)	10,204	(158,083)	30,229
Less: comprehensive (loss) income attributable to noncontrolling interests		(421)	125	(3,560)	(9)
Comprehensive (loss) income attributable to MIC		$ (63,096)	$ 10,079	$ (154,523)	$ 30,238
[1]	Reclassification of realized losses of derivatives is composed of (i) pre-tax derivative losses into interest expense of $269,000 and $508,000, respectively, and the related tax benefit of $107,000 and $202,000, respectively, recorded in the consolidated condensed statements of operations; and (ii) pre-tax derivative losses of $13,000 and $23,000, respectively, as an adjustment to investment in unconsolidated business and an adjustment to deferred taxes of $4,000 and $8,000, respectively, recorded in the consolidated condensed balance sheet for the quarter and six months ended June 30, 2014, respectively.
[2]	Translation adjustment is presented net of taxes of $1.7 million for the six months ended June 30, 2015. For the quarter and six months ended June 30, 2014, translation adjustment is presented net of taxes of $156,000 and $2,000, respectively.

CONSOLIDATED CONDENSED STATEME7

CONSOLIDATED CONDENSED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME (Parenthetical) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
CONSOLIDATED CONDENSED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME [Abstract]
Net loss in accumulated other comprehensive income reclassifications for cash flow hedges	$ (269)		$ (508)
Reclassification of realized losses of derivatives into earnings, taxes	107		202
Loss in accumulated other comprehensive income reclassifications for cash flow hedges from unconsolidated business	(13)		(23)
Reclassification of realized losses of derivatives into earnings from unconsolidated business, taxes	4		8
Translation adjustment, taxes	$ (156)	$ 1,700	$ (2)

CONSOLIDATED CONDENSED STATEME8

CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands		6 Months Ended
		Jun. 30, 2015	Jun. 30, 2014
Operating activities
Net (loss) income		$ (154,032)	$ 29,904
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization of property and equipment		109,223	27,993
Amortization of intangible assets		65,873	18,221
Loss on disposal of assets		$ 548	816
Equity in earnings and amortization charges of investee			(25,086)
Equity distributions from investee			25,086
Amortization of debt financing costs		$ 4,566	2,141
Adjustments to derivative instruments		(40,465)	5,367
Fees to manager-related party		$ 252,012	23,489
Equipment lease receivable, net			2,028
Deferred rent		$ 885	189
Deferred taxes		(89,312)	10,030
Other non-cash expenses (income), net		1,957	(319)
Changes in other assets and liabilities, net of acquisitions:
Restricted cash		2,071	25,262
Accounts receivable		(13,081)	(10,851)
Inventories		(152)	(1,227)
Prepaid expenses and other current assets		3,580	877
Due to manager - related party		67,813	(51)
Accounts payable and accrued expenses		(10,489)	270
Income taxes payable		$ (5,461)	(313)
Pension contribution			(1,135)
Other, net		$ (1,592)	(1,356)
Net cash provided by operating activities		193,944	131,335
Investing activities
Acquisitions of businesses and investments, net of cash acquired		$ (236,956)	(232,947)
Return of investment in unconsolidated business			12,297
Purchases of property and equipment		$ (50,025)	(36,053)
Other, net		522	46
Net cash used in investing activities		(286,459)	(256,657)
Financing activities
Proceeds from long-term debt		1,654,569	104,884
Payment of long-term debt		(1,744,761)	$ (16,726)
Proceeds from the issuance of common stock		487,937
Dividends paid to common stockholders		(162,967)	$ (104,502)
Contributions received from noncontrolling interests		532
Distributions paid to noncontrolling interests		(1,238)	$ (1,406)
Offering and equity raise costs paid		(16,540)	(17)
Debt financing costs paid		(14,293)	(2,317)
Proceeds from the issuance of common stock pursuant to MIC Direct		188	130
Change in restricted cash		10,975	(2,599)
Payment of capital lease obligations		(1,419)	(915)
Net cash provided by (used in) financing activities		212,983	$ (23,468)
Effect of exchange rate changes on cash and cash equivalents		(298)
Net change in cash and cash equivalents		120,170	$ (148,790)
Cash and cash equivalents, beginning of period		48,014	233,373
Cash and cash equivalents, end of period		168,184	84,583
Non-cash investing and financing activities:
Accrued equity offering costs		168	286
Accrued financing costs		887	322
Accrued purchases of property and equipment		16,359	$ 2,501
Acquisition of equipment through capital leases		398
Issuance of common stock to manager		182,513	$ 18,100
Issuance of common stock to independent directors		750	$ 750
Conversion of convertible senior notes to common stock		25
Conversion of LLC interests to common stock	[1]	79
Conversion of LLC interests to additional paid in capital	[1]	$ 2,428,334
Conversion of construction loan to term loan			$ 60,360
Distributions payable to noncontrolling interests		$ 39	406
Taxes paid		5,909	4,254
Interest paid		$ 54,038	$ 24,173
[1]	See Note 9, “Stockholders' Equity” for discussion on presentation of common stock, LLC interests and additional paid in capital.

Organization and Description of

Organization and Description of Business	6 Months Ended
	Jun. 30, 2015
Organization and Description of Business [Abstract]
Organization and Description of Business	1. Organization and Description of Business Macquarie Infrastructure Corporation, a Delaware corporation, is the successor to Macquarie Infrastructure Company LLC (“MIC LLC”) pursuant to the conversion (the “Conversion”) of MIC LLC into a corporation on May 21, 2015. MIC LLC was formed on April 13, 2004. Except as otherwise specified, all references in this Form 10-Q to “MIC” or the “Company,” refer (i) from and after the time of the Conversion, to Macquarie Infrastructure Corporation and its subsidiaries and (ii) prior to the Conversion, to the predecessor MIC LLC and its subsidiaries. Except as otherwise specified, all references in this Form 10-Q to “common stock” or “shares” refer (i) from and after the time of the Conversion, to common stock and (ii) prior to the Conversion, LLC interests. The Company owns, operates and invests in a diversified group of infrastructure businesses in the United States. Macquarie Infrastructure Management (USA) Inc. is the Company's manager and is referred to in these financial statements as the Manager. The Manager is a wholly-owned subsidiary within the Macquarie Group of companies, which is comprised of Macquarie Group Limited and its subsidiaries and affiliates worldwide. Macquarie Group Limited is headquartered in Australia and is listed on the Australian Stock Exchange. MIC is a non-operating holding company with a Board of Directors and other corporate governance responsibilities. MIC is treated as a corporation for tax purposes. The Company owns its businesses through its direct wholly-owned subsidiary MIC Ohana Corporation, the successor to Macquarie Infrastructure Company Inc. pursuant to the Conversion on May 21, 2015. The Company's businesses operate predominantly in the United States and consist of the following: • International-Matex Tank Terminals (“IMTT”) ten two • Atlantic Aviation 69 • Contracted Power and Energy (“CP&E”) Segment • Hawaii Gas

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2015
Basis of Presentation [Abstract]
Basis of Presentation	2. Basis of Presentation The unaudited consolidated condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) and in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X for interim financial information. Certain information or footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted, pursuant to the rules and regulations of the SEC for interim financial reporting. Accordingly, they do not include all of the information and notes required by GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation have been included. The consolidated balance sheet at December 31, 2014 has been derived from audited financial statements but does not include all of the information and notes required by GAAP for complete financial statements. Certain reclassifications were made to the financial statements for the prior period to conform to current period presentation. The interim financial information contained herein should be read in conjunction with the consolidated financial statements and notes thereto for the year ended December 31, 2014 included in the Company's Annual Report on Form 10-K, as filed with the SEC on February 18, 2015. Operating results for the quarter and six months ended June 30, 2015 are not necessarily indicative of the results that may be expected for the year ending December 31, 2015 or for any future interim periods. Use of Estimates The preparation of unaudited consolidated condensed financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure related thereto at the date of the unaudited consolidated condensed financial statements and the reported amounts of revenues and expenses during the reporting period. Management evaluates these estimates and assumptions on an ongoing basis. Making estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the unaudited interim consolidated condensed financial statements, which management considered in formulating its estimate, could change in the near term due to one or more future confirming events. Accordingly, the actual results could differ significantly from estimates. Recently Issued Accounting Standards On July 22, 2015, the FASB issued Accounting Standards Update (“ASU”) No. 2015-11, Inventory (Topic 330): Simplifying the Measurement of Inventory, which changes the measurement principle for inventory from the lower of cost or market to lower of cost and net realizable value. The ASU defines net realizable value as the “estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation”. The ASU will not apply to inventories that are measured by using either the last-in, first-out (LIFO) method or the retail inventory method. The guidance in the ASU is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2016. Early adoption is allowed. The Company has not yet selected a transition method nor has it determined the effect of the standard on its ongoing financial reporting. On April 7, 2015, the FASB issued ASU No. 2015-03, Interest — Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs, which requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. The recognition and measurement guidance for debt issuance costs are not affected by the amendments. The guidance in the ASU is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. Early adoption is allowed. The standard must be applied retrospectively to all prior periods presented. The Company will include appropriate disclosures related to debt issuance costs in accordance with the standard when it adopts the provisions of this ASU. On February 18, 2015, the FASB issued ASU No. 2015-02, Consolidation (Topic 810): Amendments to the Consolidation Analysis, which changes the way reporting enterprises evaluate whether (a) they should consolidate limited partnerships and similar entities, (b) fees paid to a decision maker or service provider are variable interests in a variable interest entity (“VIE”), and (c) variable interests in a VIE held by related parties of the reporting enterprise require the reporting enterprise to consolidate the VIE. The ASU significantly changes how to evaluate voting rights for entities that are not similar to limited partnerships when determining whether the entity is a VIE, which may affect entities for which the decision making rights are conveyed through a contractual arrangement. The ASU is effective for annual and interim periods in fiscal years beginning after December 15, 2015. Early adoption is allowed, including early adoption in an interim period. A reporting enterprise may apply a modified retrospective approach or full retrospective application. The Company has not yet determined the effect of the standard on its ongoing financial reporting. On May 28, 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers, which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. The ASU will replace most existing revenue recognition guidance in U.S. GAAP when it becomes effective. The new standard is effective for the Company on January 1, 2018. Early application is permitted to the original effective date of January 1, 2017. The standard permits the use of either the retrospective or cumulative effect transition method. The Company is evaluating the effect that ASU 2014-09 will have on its consolidated financial statements and related disclosures. The Company has not yet selected a transition method nor has it determined the effect of the standard on its ongoing financial reporting.

(Loss) Income per Share

(Loss) Income per Share	6 Months Ended
	Jun. 30, 2015
(Loss) Income per Share [Abstract]
(Loss) Income per Share	3. (Loss) Income per Share Following is a reconciliation of the basic and diluted number of shares of common stock used in computing (loss) income per share: Quarter Ended Six Months Ended 2015 2014 2015 2014 Weighted average number of shares outstanding: basic 79,246,069 56,559,924 76,214,929 56,465,136 Dilutive effect of restricted stock unit grants and convertible senior notes — 12,595 — 12,752 Weighted average number of shares outstanding: diluted 79,246,069 56,572,519 76,214,929 56,477,888 Restricted stock unit grants totaling 8,660 12,525 Quarter Ended Six Months Ended 2015 2014 2015 2014 Restricted stock unit grants 7,843 — 10,172 — Convertible senior notes 4,238,274 — 4,183,427 — Total 4,246,117 — 4,193,599 — The effect of potentially dilutive shares for the quarter and six months ended June 30, 2014 is calculated assuming that the 12,525 12,910

Acquisitions

Acquisitions	6 Months Ended
	Jun. 30, 2015
Acquisitions [Abstract]
Acquisitions	4. Acquisitions CP&E — Bayonne Energy Center (“BEC”) Acquisition On April 1, 2015, the Company completed the acquisition of a 100 724.3 215.2 509.1 BEC is a 512 62.5 The acquisition has been accounted for as a business combination. Accordingly, the results of operations of BEC are included in the consolidated condensed statement of operations and as a component of the Company's CP&E segment since April 1, 2015. The preliminary allocation of the purchase price for BEC's assets acquired and liabilities assumed was as follows ($ in thousands): Restricted cash $ 12,440 Accounts receivable 5,471 Inventories 3,155 Prepaid expenses 1,835 Other current assets 479 Total current assets 23,380 Property, equipment and leasehold improvements 719,990 Intangible assets – contractual arrangements (1) 61,463 Goodwill (2) 26,462 Total assets acquired $ 831,295 Accounts payable $ 1,926 Accrued expenses 1,084 Current portion of long-term debt 5,250 Fair value of derivative instruments – current 6,196 Tolling agreements – current (3) 6,368 Other current liabilities 179 Total current liabilities 21,003 Long-term debt, net of current portion 503,827 Tolling agreements – noncurrent (3) 75,392 Fair value of derivative instruments – non-current 15,279 Other noncurrent liabilities 538 Total liabilities assumed 616,039 Net assets acquired $ 215,256 (1) Contractual arrangements are being amortized over a seventeen (2) Goodwill is deductible for tax purposes. (3) Tolling agreements represent agreements with an off-taker where BEC agreed to sell 62.5 thirteen The preliminary fair value of the acquired assets and liabilities assumed were determined using various valuation techniques, including the market, income and/or cost approaches. The Company is still in the process of reviewing the valuation of the assets acquired and liabilities assumed and expect such process to be completed by September 30, 2015. Had the acquisition occurred as of January 1, 2015, the consolidated results of operations would not have been materially different. For the six months ended June 30, 2015, the Company incurred acquisition costs of approximately $ 9.1 CP&E — 2014 Wind Power Generation Facilities Acquisition In 2014, the Company acquired controlling interests in wind power generation facilities, consisting of Brahms Wind, LLC, Exergy Idaho Holdings, LLC and Idaho Wind Partners 1, LLC (collectively the “2014 wind power generation facilities”), for a combined purchase price of $ 106.1 134 203 During the six months ended June 30, 2015, the Company completed the purchase price allocation associated with the acquisitions. Substantially all of the purchase price has been allocated to the wind turbines, which have a fair value of $ 316.2 163.9 For the year ended December 31, 2014, the Company recorded transaction related costs of $ 2.0

Property, Equipment, Land and L

Property, Equipment, Land and Leasehold Improvements	6 Months Ended
	Jun. 30, 2015
Property, Equipment, Land and Leasehold Improvements [Abstract]
Property, Equipment, Land and Leasehold Improvements	5. Property, Equipment, Land and Leasehold Improvements Property, equipment, land and leasehold improvements at June 30, 2015 and December 31, 2014 consist of the following ($ in thousands): June 30, December 31, Land $ 271,521 $ 272,110 Easements 131 131 Buildings 40,986 40,730 Leasehold and land improvements 562,859 439,962 Machinery and equipment 3,423,823 2,810,531 Furniture and fixtures 28,984 28,664 Construction in progress 103,908 72,241 4,432,212 3,664,369 Less: accumulated depreciation (394,235 ) (301,784 ) Property, equipment, land and leasehold improvements, net $ 4,037,977 $ 3,362,585 As discussed in Note 4, “Acquisitions”, the Company acquired $ 720.0 During the quarter ended March 31, 2015, Atlantic Aviation reassessed the useful lives of its leasehold and land improvements related to leases at certain airports to generally match these useful lives with the remaining lease terms plus extensions under Atlantic Aviation's control. This change will generally accelerate depreciation expense at the affected sites. During the quarter ended March 31, 2015, as a result of this reassessment, the business performed an impairment analysis related to its leasehold and land improvements and recorded an impairment of $ 2.8 2.1 In addition, during the quarter ended March 31, 2015, an impairment charge of $ 4.2

Intangible Assets

Intangible Assets	6 Months Ended
	Jun. 30, 2015
Intangible Assets [Abstract]
Intangible Assets	6. Intangible Assets Intangible assets at June 30, 2015 and December 31, 2014 consist of the following ($ in thousands): June 30, December 31, 2014 Contractual arrangements $ 891,988 $ 873,406 Non-compete agreements 9,665 9,665 Customer relationships 341,457 342,232 Leasehold rights 350 350 Trade names 16,091 16,091 Technology 8,760 8,760 1,268,311 1,250,504 Less: accumulated amortization (308,235 ) (290,870 ) Intangible assets, net $ 960,076 $ 959,634 As discussed in Note 4, “Acquisitions”, the Company acquired $ 61.5 During the quarter ended March 31, 2015, Atlantic Aviation reassessed the useful lives of its contractual arrangements related to leases at certain airports to generally match these useful lives with the remaining lease terms plus extensions under Atlantic Aviation's control. This change will generally accelerate amortization expense at the affected sites. During the quarter ended March 31, 2015, as a result of this reassessment, the business performed an impairment analysis related to its contractual arrangements and recorded an impairment of $ 13.5 9.1 In addition, during the quarter ended March 31, 2015, an impairment charge of $ 17.8 The goodwill balance as of June 30, 2015 is comprised of the following ($ in thousands): Goodwill acquired in business combinations, net of disposals, at December 31, 2014 $ 2,120,424 Less: accumulated impairment charges (123,200 ) Less: other (965 ) Balance at December 31, 2014 1,996,259 Add: goodwill related to 2015 acquisitions 29,906 Less: purchase accounting adjustments related to 2014 acquisitions (6,241 ) Less: other (720 ) Balance at June 30, 2015 $ 2,019,204 The Company tests for goodwill impairment at the reporting unit level on an annual basis on October 1 st

Long-Term Debt

Long-Term Debt	6 Months Ended
	Jun. 30, 2015
Long-Term Debt [Abstract]
Long-Term Debt	7. Long-Term Debt At June 30, 2015 and December 31, 2014, the Company's consolidated long-term debt comprised the following ($ in thousands): June 30, December 31, IMTT $ 1,129,322 $ 953,061 Atlantic Aviation 607,972 611,328 CP&E 543,814 298,132 Hawaii Gas 180,000 180,000 MIC Corporate 349,975 350,000 Total 2,811,083 2,392,521 Less: current portion (28,346 ) (27,655 ) Long-term portion $ 2,782,737 $ 2,364,866 The total undrawn capacity on the revolving credit facilities at IMTT, Atlantic Aviation, Hawaii Gas and MIC Corporate were $ 1.1 MIC Corporate On April 1, 2015, the Company drew down $ 155.0 250.0 360.0 191.0 251.5 As a result of the Conversion, holders of the Company's $ 350.0 12.7836 11.7942 1,000 23,000 25,000 IMTT Effective May 21, 2015, ITT Holdings LLC (“ITT LLC”), a direct subsidiary of IMTT Holdings LLC and an indirect subsidiary of the Company, entered into a Credit Agreement (the “Credit Agreement”), among ITT LLC, IMTT – Quebec Inc. and IMTT – NTL, LTD. as Canadian borrowers, Sun Trust Bank as administrative agent and the lenders thereto. The Credit Agreement provides for (a) a $ 550.0 50.0 325.0 3.92 2025 275.0 4.02 2027 In connection with this refinancing, $ 509.0 Revolving Credit Facility The revolving credit facility will be used primarily to fund IMTT's growth capital expenditures in the U.S. and Canada and for general corporate purposes. The terms of IMTT's U.S. dollar and Canadian dollar portion of its revolving credit facility at June 30, 2015 are summarized in the table below. Facility Terms USD Revolving Credit Facility CAD Revolving Credit Facility Total Committed Amount $ 550.0 $ 50.0 Amount Outstanding at June 30, 2015 Undrawn $ 797,000 Maturity May 21, 2020 May 21, 2020 Amortization Revolving, payable at maturity Revolving, payable at maturity Interest Rate LIBOR plus 1.625 Bankers' Acceptances (BA) Rate plus 1.625 Commitment Fees 0.3125 0.3125 Security Unsecured Unsecured Senior Notes The key terms of the senior notes at June 30, 2015 are summarized in the table below. Facility Terms Senior Notes, Series A Senior Notes, Series B Amount Outstanding at June 30, 2015 $ 325.0 $ 275.0 Maturity May 21, 2025 May 21, 2027 Amortization Payable at maturity Payable at maturity Interest Rate 3.92 4.02 Security Unsecured Unsecured Louisiana Public Facilities Authority Bonds and Ascension Parish Bonds (“LA Bonds”) The key terms of the LA Bonds at June 30, 2015 are summarized in the table below. Facility Terms Louisiana Public Facilities Authority Revenue Bonds, Series 2007 The Industrial Development Board of the Parish of Ascension, Louisiana Revenue Bonds, Series 2007 Louisiana Public Facilities Authority Gulf Opportunity Zone Revenue Bonds, Series 2010 Louisiana Public Facilities Authority Revenue Bonds, Series 2010A Louisiana Public Facilities Authority Revenue Bonds, Series 2010B Amount Outstanding at June 30, 2015 $ 50.0 $ 165.0 $ 85.0 $ 90.9 $ 81.8 Maturity June 2043 June 2043 August 2046 December 2040 December 2040 Amortization Payable at maturity, subject to tender in May 2022 Payable at maturity, subject to tender in May 2022 Payable at maturity, subject to tender in May 2022 Payable at maturity, subject to tender in May 2022 Payable at maturity, subject to tender in May 2022 Interest Rate One-month LIBOR plus Revolving Credit Facility margin plus 0.625 75 One-month LIBOR plus Revolving Credit Facility margin plus 0.625 75 One-month LIBOR plus Revolving Credit Facility margin plus 0.625 67 One-month LIBOR plus Revolving Credit Facility margin plus 0.625 67 One-month LIBOR plus Revolving Credit Facility margin plus 0.625 67 Security Unsecured Unsecured Unsecured Unsecured Unsecured New Jersey Economic Development Authority Bond (“NJEDA Bond”) The key terms of the NJEDA Bond at June 30, 2015 are summarized in the table below. Facility Terms New Jersey Economic Development Authority Amount Outstanding at June 30, 2015 $ 36.3 Maturity December 2027 Amortization Payable at maturity, subject to tender in May 2022 Interest Rate One-month LIBOR plus Revolving Credit Facility margin plus 0.625 75 Security Unsecured IMTT entered into two June 2021 361.1 1.677 In addition to the debt facilities discussed above, the key terms of IMTT's loans from its previous shareholders, other than MIC, remains unchanged. The shareholder loans have a fixed interest rate of 5.5 15 19.6 CP&E On June 3, 2015, the wind power generation facility located in Idaho amended its term loan facility to reduce the cost of borrowings. The margin on the floating interest rate decreased from 2.75 1.625 0.20 4.755 On April 1, 2015, the Company acquired BEC and assumed $ 509.1 30.0 19.0 4.0 1.0 4.125 August 2021 BEC has three 3.455 3.705 3.955 249.9 During the quarter ended June 30, 2015, the Company repaid $ 257.6 251.5 191.0 251.5 19.2

Derivative Instruments and Hedg

Derivative Instruments and Hedging Activities	6 Months Ended
	Jun. 30, 2015
Derivative Instruments and Hedging Activities [Abstract]
Derivative Instruments and Hedging Activities	8. Derivative Instruments and Hedging Activities Interest Rate Swap Contracts The Company and certain of its businesses have in place variable-rate debt. Management believes that it is prudent to limit the variability of the business' interest payments. To meet this objective, the Company enters into interest rate swap agreements to manage fluctuations in cash flows resulting from interest rate risk on a portion of its debt with a variable-rate component. These swaps change the variable-rate cash flow exposure on the debt obligations to fixed cash flows. Under the terms of the interest rate swaps, the Company receives variable interest rate payments and makes fixed interest rate payments, thereby creating the equivalent of fixed-rate debt for the portion of the debt that is swapped. At June 30, 2015, the Company had $ 2.8 1.5 1.2 150.2 The Company elected to discontinue hedge accounting in 2009. In prior periods, when the Company applied hedge accounting, changes in the fair value of derivatives that effectively offset the variability of cash flows on the Company's debt interest obligations were recorded in other comprehensive income or loss. From the dates that hedge accounting was discontinued, all movements in the fair value of the interest rate swaps are recorded directly through earnings. As interest payments were made, a portion of the other comprehensive loss recorded under hedge accounting was also reclassified into earnings. At December 31, 2014, the other comprehensive loss was fully amortized. The following discussion represents new or amended interest rate swap contracts that were entered into during the six months ended June 30, 2015. On June 1, 2015, IMTT, as part of the IMTT refinancing in May 2015, entered into two 361.1 six 1.677 31.4 On June 3, 2015, the wind power generation facility located in Idaho amended its term loan facility to reduce the cost of borrowings. The margin on the floating interest rate decreased from 2.75 1.625 0.20 4.755 On April 1, 2015, the Company acquired BEC and assumed $ 509.1 21.5 255.1 4.0 1.0 three 3.455 3.705 3.955 249.9 19.0 Commodity Price Hedges The risk associated with fluctuations in the prices Hawaii Gas pays for propane is principally a result of market forces reflecting changes in supply and demand for propane and other energy commodities. Hawaii Gas's gross profit is sensitive to changes in propane supply costs and Hawaii Gas may not always be able to pass through product cost increases fully or on a timely basis, particularly when product costs rise rapidly. In order to reduce the volatility of the business' propane market price risk, Hawaii Gas had used and expects to continue to use over-the-counter commodity derivative instruments including price swaps. Hawaii Gas does not use commodity derivative instruments for speculative or trading purposes. Over-the-counter commodity derivative instruments utilized by Hawaii Gas to hedge forecasted purchases of propane are generally settled at expiration of the contract. Financial Statement Location Disclosure for Derivative Instruments The Company measures derivative instruments at fair value using the income approach which discounts the future net cash settlements expected under the derivative contracts to a present value. These valuations utilize primarily observable (“level 2”) inputs, including contractual terms, interest rates and yield curves observable at commonly quoted intervals. The Company's fair value measurements of its derivative instruments and the related location of the assets and liabilities associated with the hedging instruments within the consolidated condensed balance sheets at June 30, 2015 and December 31, 2014 were as follows ($ in thousands): Assets (Liabilities) at (1) Derivative Contracts Balance Sheet Location June 30, December 31, Fair value of derivative instruments – non-current assets (2) (3) $ 8,276 $ 584 Total derivative contracts – assets (2) (3) $ 8,276 $ 584 Fair value of derivative instruments – current liabilities (2) (3) $ (24,846 ) $ (32,111 ) Fair value of derivative instruments – non-current liabilities (2) (23,689 ) (27,724 ) Total derivative contracts – liabilities (2) (3) $ (48,535 ) $ (59,835 ) (1) Fair value measurements at reporting date were made using significant other observable inputs (“level 2”). (2) Derivative contracts include interest rate swaps. (3) Derivative contracts include commodity hedges. The Company's hedging activities for the quarters and six months ended June 30, 2015 and 2014 and the related location within the consolidated condensed statements of operations were as follows ($ in thousands): Derivative Contracts Not Designated as Hedging Instruments Amount of Gain (Loss) Recognized in Consolidated Condensed Statements of Operations for the Quarter Amount of Loss Recognized in Consolidated Condensed Statements of Operations for the Six Months Financial Statement Account 2015 2014 2015 2014 Interest expense – Interest rate cap $ — $ — $ — $ (1 ) Interest expense – Interest rate swaps (1) 3,087 (8,618 ) (9,832 ) (13,950 ) Cost of product sales – Commodity swaps (952 ) — (970 ) — Total $ 2,135 $ (8,618 ) $ (10,802 ) $ (13,951 ) (1) Interest expense for the quarter and six months ended June 30, 2014 includes $ 8.3 13.4 269,000 508,000 All of the Company's derivative instruments are collateralized by the assets of the respective businesses.

Shareholders' Equity

Shareholders' Equity	6 Months Ended
	Jun. 30, 2015
Shareholders' Equity [Abstract]
Shareholders' Equity	9. Stockholders' Equity Classes of Stock The Company is authorized to issue (i) 500,000,000 0.001 100 0.001 100,000,000 0.001 79,501,783 100 no one Upon consummation of the Conversion on May 21, 2015, each issued and outstanding LLC interest of MIC LLC was converted into one 100 one At May 21, 2015, upon consummation of the Conversion, the Company made a non-cash reclassification of $ 79,000 0.001 At the Market (“ATM”) Program On June 24, 2015, the Company entered into an equity distribution agreement providing for the sale by the Company, from time to time, of shares of its common stock having an aggregate gross offering price of up to $ 400.0 Under the terms of the equity distribution agreement, the Company may also sell shares to any sales agent as principal for its own account. The Company is under no obligation to sell shares under the ATM Program. The Company did not sell any shares under the ATM Program during the quarter ended June 30, 2015. MIC Direct The Company maintains a dividend reinvestment/direct share purchase program, named “MIC Direct”, that allows for the issuance of up to 1.0 992,405 Equity Offerings On May 21, 2015, in connection with the Conversion, the Company filed a post-effective amendment to the automatic shelf registration statement on Form S-3 (“shelf”) originally filed by MIC LLC with the Securities and Exchange Commission on April 8, 2013 to issue and sell an indeterminate amount of its shares of common and preferred stock and debt securities in one or more future offerings. On July 15, 2014, the Company completed an underwritten public offering of 10,000,000 1,500,000 739.2 50 On March 2, 2015, the Company completed an underwritten public offering of 5,312,500 796,875 471.6 Accumulated Other Comprehensive Loss The following represents the changes and balances to the components of accumulated other comprehensive loss for the six months ended June 30, 2015 and 2014 ($ in thousands): Cash Flow (1) Post-Retirement Translation (2) Total Noncontrolling Total Balance at December 31, 2013 $ (636 ) $ (8,021 ) $ (46 ) $ (8,703 ) $ 258 $ (8,445 ) Reclassification of realized losses of derivatives into earnings 321 — — 321 (153 ) 168 Translation adjustment — — 4 4 — 4 Balance at June 30, 2014 $ (315 ) $ (8,021 ) $ (42 ) $ (8,378 ) $ 105 $ (8,273 ) Balance at December 31, 2014 $ — $ (18,837 ) $ (4,859 ) $ (23,696 ) $ 2,146 $ (21,550 ) Translation adjustment — — (4,051 ) (4,051 ) 1,626 (2,425 ) Balance at June 30, 2015 $ — $ (18,837 ) $ (8,910 ) $ (27,747 ) $ 3,772 $ (23,975 ) (1) For the six months ended June 30, 2014, reclassification of realized losses of derivatives is composed of (i) pre-tax derivative losses into interest expense of $ 508,000 202,000 23,000 8,000 (2) Translation adjustment is presented net of taxes of $ 1.7 2,000

Reportable Segments

Reportable Segments	6 Months Ended
	Jun. 30, 2015
Reportable Segments [Abstract]
Reportable Segments	10. Reportable Segments At June 30, 2015, the Company's businesses consist of four 50 For the quarter and six months ended June 30, 2014, the results of IMTT had been accounted for under the equity method of accounting. The Company recorded equity in earnings and amortization charges of investee of $ 10.8 25.1 50 50 The unaudited pro forma selected consolidated financial data set forth below gives effect to the IMTT Acquisition as if it had occurred as of January 1, 2014. The pro forma adjustments give effect to the IMTT Acquisition based upon the acquisition method of accounting in accordance with U.S. GAAP. The selected unaudited pro forma consolidated financial data is presented for illustrative purposes only and is not necessarily indicative of the results of operations of future periods or results of operations that actually would have been realized had the Company and IMTT been consolidated during the period presented ($ in thousands): Quarter Ended Six Months Revenue $ 423,461 $ 847,734 Net income attributable to MIC (1) 18,859 52,172 (1) The tax rate used to calculate net income attributable to MIC was 35.0 Financial information for IMTT's business as a whole for the quarter and six months ended June 30, 2014, prior to the IMTT Acquisition, is presented below ($ in thousands): As of, and for the Quarter Ended (1) Six Months Ended June 30, 2014 (1) Revenue $ 142,518 $ 290,596 Net income $ 24,003 $ 54,984 Interest expense, net 8,813 15,946 Provision for income taxes 15,455 36,557 Depreciation and amortization 19,646 37,920 Other non-cash expense 1,518 3,501 EBITDA excluding non-cash items (2) $ 69,435 $ 148,908 Capital expenditures paid $ 24,272 $ 53,893 Property, equipment, land and leasehold improvements, net 1,285,148 1,285,148 Total assets 1,386,959 1,386,959 (1) Amounts represent financial position of IMTT business prior to July 16, 2014, the date of the IMTT Acquisition. (2) EBITDA consists of earnings before interest, taxes, depreciation and amortization. Non-cash items that are excluded consist of impairments, derivative gains and losses and all other non-cash income and expense items. IMTT IMTT provides bulk liquid terminal and handling services in North America through ten Atlantic Aviation Atlantic Aviation derives the majority of its revenues from fuel delivery services and from other airport services, including de-icing and aircraft hanger rental. All of the revenue of Atlantic Aviation is generated at airports in the U.S. At June 30, 2015, the business operates at 69 CP&E The CP&E business segment derives revenue from the contracted power generation, comprised of solar, wind and gas-fired power generation facilities, and, through the date it was sold, the district energy business. Revenues from the solar, wind and gas-fired power generation facilities are included in product revenue and prior to August 21, 2014, the district energy business recorded revenues in service revenue and financing and equipment lease income. As of June 30, 2015, the Company has invested in five two The solar and wind power generation facilities have an aggregate generating capacity of 260 20 25 The Company has certain rights to make decisions over the management and operations of the five two As discussed in Note 4, “Acquisitions”, on April 1, 2015, the Company acquired 100 512 62.5 Hawaii Gas Revenue from Hawaii Gas is included in product revenue. Revenue is generated from the distribution and sales of synthetic natural gas (“SNG”), liquefied petroleum gas (“LPG”) and liquefied natural gas (“LNG”). Revenue is primarily a function of the volume of SNG, LPG and LNG consumed by customers and the price per thermal unit or gallon charged to customers. Because both SNG and LPG are derived from petroleum, revenue levels, without organic growth, will generally track global oil prices. All of the business segments are managed separately and management has chosen to organize the Company around the distinct products and services offered. Selected information by segment is presented in the following tables. The tables include financial data of IMTT for the quarter and six months ended June 30, 2015 but do not include financial data of the Company's equity investment in IMTT for the quarter and six months ended June 30, 2014. Revenue from external customers for the Company's consolidated reportable segments was as follows ($ in thousands): Quarter Ended June 30, 2015 IMTT Atlantic Contracted Hawaii Total Service revenue $ 142,384 $ 185,425 $ — $ — $ 327,809 Product revenue — — 36,121 59,759 95,880 Total revenue $ 142,384 $ 185,425 $ 36,121 $ 59,759 $ 423,689 Quarter Ended June 30, 2014 Atlantic Contracted Hawaii Total Service revenue $ 193,212 $ 12,057 $ — $ 205,269 Product revenue — 5,830 69,134 74,964 Financing and equipment lease income — 710 — 710 Total revenue $ 193,212 $ 18,597 $ 69,134 $ 280,943 Six Months Ended June 30, 2015 IMTT Atlantic Contracted Hawaii Total Service revenue $ 280,445 $ 373,366 $ — $ — $ 653,811 Product revenue — — 47,953 120,423 168,376 Total revenue $ 280,445 $ 373,366 $ 47,953 $ 120,423 $ 822,187 Six Months Ended June 30, 2014 Atlantic Contracted Hawaii Total Service revenue $ 387,173 $ 20,535 $ — $ 407,708 Product revenue — 9,488 138,485 147,973 Financing and equipment lease income — 1,457 — 1,457 Total revenue $ 387,173 $ 31,480 $ 138,485 $ 557,138 In accordance with FASB ASC 280 Segment Reporting, the Company has disclosed earnings before interest, taxes, depreciation and amortization (“EBITDA”) excluding non-cash items as a key performance metric relied on by management in the evaluation of the Company's performance. Non-cash items include impairments, derivative gains and losses and adjustments for other non-cash items reflected in the statements of operations. EBITDA excluding non-cash items also excludes any base management fees and performance fees, if any, whether paid in cash or stock. The Company believes EBITDA excluding non-cash items provides additional insight into the performance of the operating businesses relative to each other and similar businesses without regard to their capital structure, and their ability to service or reduce debt, fund capital expenditures and/or support distributions to the holding company. EBITDA excluding non-cash items is reconciled to net income or loss. EBITDA excluding non-cash items for the Company's consolidated reportable segments is shown in the tables below ($ in thousands). Allocations of corporate expenses, intercompany fees and the tax effect have been excluded as they are eliminated on consolidation. Quarter Ended June 30, 2015 IMTT Atlantic Contracted Hawaii Total Net income (loss) $ 21,096 $ 12,208 $ (5,138 ) $ 6,430 $ 34,596 Interest expense, net 6,263 5,605 4,945 1,806 18,619 Provision for income taxes 14,659 8,335 3,683 4,068 30,745 Depreciation 28,907 8,013 12,772 2,109 51,801 Amortization of intangibles 2,766 13,797 1,082 257 17,902 Loss on disposal of assets — 95 — — 95 Other non-cash expense (income) 1,957 653 (2,099 ) 1,219 1,730 EBITDA excluding non-cash items $ 75,648 $ 48,706 $ 15,245 $ 15,889 $ 155,488 Quarter Ended June 30, 2014 Atlantic Contracted Hawaii Total Net income $ 5,698 $ 1,154 $ 6,294 $ 13,146 Interest expense, net 13,352 2,690 1,891 17,933 Provision for income taxes 3,855 616 4,092 8,563 Depreciation (1) 6,789 5,363 1,983 14,135 Amortization of intangibles 8,818 326 312 9,456 Loss on disposal of assets 816 — — 816 Other non-cash expense (income) 88 (2,125 ) 408 (1,629 ) EBITDA excluding non-cash items $ 39,416 $ 8,024 $ 14,980 $ 62,420 (1) Depreciation includes depreciation expense for the district energy business, a component of the CP&E segment prior to the Company's divestiture of the business on August 21, 2014, which was reported in cost of services in the consolidated condensed statements of operations. Six Months Ended June 30, 2015 IMTT Atlantic Contracted Hawaii Total Net income (loss) $ 41,370 $ 10,581 $ (8,677 ) $ 15,285 $ 58,559 Interest expense, net 13,169 18,690 11,283 3,749 46,891 Provision (benefit) for income taxes 28,748 (7,304 ) 2,865 9,600 33,909 Depreciation 62,022 23,012 20,038 4,151 109,223 Amortization of intangibles 5,530 58,513 1,261 569 65,873 Loss on disposal of assets — 548 — — 548 Other non-cash expense (income) 3,213 925 (5,040 ) (611 ) (1,513 ) EBITDA excluding non-cash items $ 154,052 $ 104,965 $ 21,730 $ 32,743 $ 313,490 Six Months Ended June 30, 2014 Atlantic Contracted Hawaii Total Net income (loss) $ 16,253 $ (261 ) $ 12,489 $ 28,481 Interest expense, net 22,917 5,335 3,678 31,930 Provision for income taxes 8,770 1,215 8,119 18,104 Depreciation (1) 13,591 10,473 3,929 27,993 Amortization of intangibles 16,949 648 624 18,221 Loss on disposal of assets 816 — — 816 Other non-cash expense (income) 156 (2,890 ) 1,132 (1,602 ) EBITDA excluding non-cash items $ 79,452 $ 14,520 $ 29,971 $ 123,943 (1) Depreciation includes depreciation expense for the district energy business, a component of the CP&E segment prior to the Company's divestiture of the business on August 21, 2014, which was reported in cost of services in the consolidated condensed statements of operations. Reconciliation of total reportable segments' EBITDA excluding non-cash items to consolidated net (loss) income before income taxes are as follows ($ in thousands): Quarter Ended Six Months Ended 2015 2014 2015 2014 Total reportable segments EBITDA excluding non-cash items (1) $ 155,488 $ 62,420 $ 313,490 $ 123,943 Interest income 7 31 13 95 Interest expense (22,342 ) (17,945 ) (53,863 ) (31,956 ) Depreciation (2) (51,801 ) (14,135 ) (109,223 ) (27,993 ) Amortization of intangibles (17,902 ) (9,456 ) (65,873 ) (18,221 ) Loss on disposal of assets (95 ) (816 ) (548 ) (816 ) Selling, general and administrative - corporate (3,693 ) (2,233 ) (6,639 ) (3,279 ) Fees to manager–related party (154,559 ) (14,495 ) (319,832 ) (23,489 ) Equity in earnings and amortization charges of (1) — 10,799 — 25,086 Other (expense) income, net (2,151 ) 1,059 (421 ) 505 Total consolidated net (loss) income before income $ (97,048 ) $ 15,229 $ (242,896 ) $ 43,875 (1) For the quarter and six months ended June 30, 2015, total reportable segments' EBITDA excluding non-cash items includes the results of IMTT's EBITDA excluding non-cash items. Prior to July 16, 2014, the date of the IMTT Acquisition, MIC accounted for its 50 50 (2) Depreciation includes depreciation expense for the district energy business, a component of the CP&E segment prior to the Company's divestiture of the business on August 21, 2014, which was reported in cost of services in the consolidated condensed statements of operations. Capital expenditures for the Company's reportable segments were as follows ($ in thousands): Quarter Ended Six Months Ended 2015 2014 2015 2014 IMTT $ 8,350 $ — $ 20,219 $ — Atlantic Aviation 10,919 7,947 19,142 16,672 Contracted Power and Energy 308 2,077 308 11,400 Hawaii Gas 4,967 4,416 10,356 7,981 Total $ 24,544 $ 14,440 $ 50,025 $ 36,053 Property, equipment, land and leasehold improvements, goodwill and total assets for the Company's reportable segments as of June 30 th Property, Equipment, Goodwill Total Assets 2015 2014 2015 2014 2015 2014 IMTT $ 2,229,637 $ — $ 1,411,629 $ — $ 4,135,842 $ — Atlantic Aviation 332,320 314,628 460,920 458,488 1,484,589 1,575,588 Contracted Power and Energy 1,272,499 390,101 26,462 17,946 1,428,412 482,547 Hawaii Gas 203,521 189,936 120,193 120,193 384,085 403,681 Total $ 4,037,977 $ 894,665 $ 2,019,204 $ 596,627 $ 7,432,928 $ 2,461,816 Reconciliation of reportable segments' total assets to consolidated total assets ($ in thousands): As of June 30, 2015 2014 Total assets of reportable segments $ 7,432,928 $ 2,461,816 Investment in unconsolidated business — 71,434 Corporate and other 59,744 9,255 Total consolidated assets $ 7,492,672 $ 2,542,505

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2015
Related Party Transactions [Abstract]
Related Party Transactions	11. Related Party Transactions Management Services At June 30, 2015 and December 31, 2014, the Manager held 5,054,755 4,667,105 1,900,000 160.4 Since January 1, 2014, the Company paid the Manager cash dividends on shares held for the following periods: Declared Period Covered $ per Record Date Payable Date Cash Paid July 30, 2015 Second quarter 2015 $ 1.11 August 13, 2015 August 18, 2015 $ (1) April 30, 2015 First quarter 2015 $ 1.07 May 14, 2015 May 19, 2015 $ 7,281 February 17, 2015 Fourth quarter 2014 $ 1.02 March 2, 2015 March 5, 2015 $ 4,905 October 27, 2014 Third quarter 2014 $ 0.98 November 10, 2014 November 13, 2014 $ 4,438 July 3, 2014 Second quarter 2014 $ 0.95 August 11, 2014 August 14, 2014 $ 3,402 April 28, 2014 First quarter 2014 $ 0.9375 May 12, 2014 May 15, 2014 $ 3,180 February 18, 2014 Fourth quarter 2013 $ 0.9125 March 3, 2014 March 6, 2014 $ 2,945 (1) The amount of dividend payable to the Manager for the second quarter of 2015 will be determined on August 13, 2015, the record date. Under the Management Agreement, the Manager manages the Company's day-to-day operations and oversees the management teams of the Company's operating businesses. In addition, the Manager has the right to appoint the Chairman of the Board of the Company, subject to minimum equity ownership, and to assign, or second, to the Company, two In accordance with the Management Agreement, the Manager is entitled to a monthly base management fee based primarily on the Company's market capitalization, and potentially a quarterly performance fee, based on the performance of the Company's common stock relative to a U.S. utilities index. For the quarter and six months ended June 30, 2015, the Company incurred base management fees of $ 18.9 35.5 135.6 284.4 9.5 18.5 5.0 The unpaid portion of the base management fees and performance fees, if any, at the end of each reporting period is included in due to manager-related party in the consolidated condensed balance sheets. The following table shows the Manager's election to reinvest its base management fees and performance fees, if any, in additional shares of the Company, except as noted: Period Base Management Performance Shares 2015 Activities: Second quarter 2015 $ 18,918 $ 135,641 223,827 (1) First quarter 2015 16,545 148,728 2,068,038 2014 Activities: Fourth quarter 2014 $ 14,192 $ — 208,122 Third quarter 2014 13,915 116,586 947,583 (2) Second quarter 2014 9,535 4,960 243,329 First quarter 2014 8,994 — 164,546 (1) In July 2015, the Board requested, and the Manager agreed, that $ 67.8 223,827 73,986 (2) In October 2014, the Board requested, and the Manager agreed, that $ 65.0 51.6 The Manager is not entitled to any other compensation and all costs incurred by the Manager, including compensation of seconded staff, are paid by the Manager out of its base management fee. However, the Company is responsible for other direct costs including, but not limited to, expenses incurred in the administration or management of the Company and its subsidiaries, income taxes, audit and legal fees, acquisitions and dispositions and its compliance with applicable laws and regulations. During the quarter and six months ended June 30, 2015, the Manager charged the Company $ 169,000 257,000 136,000 208,000 Third Amended and Restated Management Service Agreement On May 21, 2015, to give effect to the Conversion, Macquarie Infrastructure Corporation entered into a Third Amended and Restated Management Services Agreement (the “Amended Agreement”), among the Company, MIC Ohana Corporation and Macquarie Infrastructure Management (USA) Inc. (the “Manager”). Concurrently with the Conversion, the Manager was issued 100 one one On May 21, 2015, the Company entered into an amended and restated registration rights agreement with the Manager to give effect to the Conversion. Other Services The Company utilizes the resources of the Macquarie Group with respect to a range of advisory, procurement, insurance, hedging, lending and other services. Engagements involving members of the Macquarie Group are reviewed and approved by the Audit Committee of the Company's Board of Directors. Macquarie Group affiliates are engaged on an arm's length basis and frequently as a member of syndicate of providers whose other members establish the terms of the interaction. Advisory Services The Macquarie Group, and wholly-owned subsidiaries within the Macquarie Group, including Macquarie Bank Limited, or MBL, and Macquarie Capital (USA) Inc., or MCUSA, have provided various advisory and other services and incurred expenses in connection with the Company's equity raising activities, acquisitions and debt structuring for the Company and its businesses. Underwriting fees are recorded in stockholders' equity as a direct cost of equity offerings. Advisory fees and out-of-pocket expenses relating to acquisitions are expensed as incurred. Debt arranging fees are deferred and amortized over the term of the credit facility. On June 24, 2015, the Company commenced the ATM program where the Company may offer and sell shares of its common stock, par value $ 0.001 400.0 In March 2015 and July 2014, the Company completed underwritten public offerings of 6,109,375 11,500,000 2.3 3.0 The district energy business' credit facility was scheduled to mature in September 2014. The Company engaged MCUSA to assist in identifying and analyzing various alternatives for paying these obligations prior to maturity and obtaining other credit facilities. In August 2014, the Company paid $ 1.6 In July 2014, the Company also completed underwritten public offering of $ 350.0 1.1 On January 22, 2014, Atlantic Aviation entered into an incremental $ 100.0 16,000 In December 2013, Atlantic Aviation entered into an equity bridge loan for $ 70.0 35.0 88,000 Long-Term Debt and Derivatives On April 1, 2015, in conjunction with the acquisition of BEC, the Company assumed the existing revolving credit facility of BEC, of which $ 7.5 5,000 3.455 63.8 396,000 Atlantic Aviation's $ 70.0 15.7 28,000 56,000 26,000 52,000 In July 2014, the Company entered into a credit agreement at the holding company that provides a five 250.0 50.0 250,000 250.0 360.0 50.0 During the quarter ended June 30, 2015, the Company drew down and repaid $ 155.0 80,000 155.0 24,000 58,000 24,000 36,000 Other Transactions Macquarie, through the Macquarie Insurance Facility (“MIF”), has an aggregated insurance buying program. By combining the insurance premiums of Macquarie owned and managed funds, MIF has been able to deliver very competitive terms to businesses that participate in the facility. MIF earns a commission from the insurers. No payments were made to MIF by the Company during the six months ended June 30, 2015 and 2014. In February 2015, the Company renewed its Directors and Officers liability insurance utilizing several of the MIF insurers. IMTT, Atlantic Aviation, CP&E and Hawaii Gas purchase and renew property and casualty insurance coverage on an ongoing basis from insurance underwriters who then pay commissions to MIF. For the six months ended June 30, 2015 and 2014, no payments were made directly to MIF for property and casualty insurance. Macquarie Energy North America Trading, Inc., a subsidiary of Macquarie Group Limited, entered into contracts with IMTT to lease a total of 154,000 212,000 10,000 During the first quarter of 2015 18,000 In July 2014, in connection with the acquisition of the remaining interest of IMTT, the Company purchased insurance from an insurance underwriter who then paid commission to MIF. No payments were made directly to MIF for representations and warranties insurance. Atlantic Aviation entered into a copiers lease agreement with Macquarie Equipment Finance (“MEF”), an indirect subsidiary of Macquarie Group Limited. For the quarter ended March 31, 2015, Atlantic Aviation incurred $ 2,000 6,000 12,000 Hawaii Gas entered into licensing agreements with Utility Service Partners, Inc. and America's Water Heater Rentals, LLC, both indirect subsidiaries of Macquarie Group Limited, to enable these entities to offer products and services to Hawaii Gas's customer base. No payments were made under these arrangements during the six months ended June 30, 2015 and 2014. In addition, the Company and several of its subsidiaries have entered into a licensing agreement with the Macquarie Group related to the use of the Macquarie name and trademark. The Macquarie Group does not charge the Company any fees for this license.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2015
Income Taxes [Abstract]
Income Taxes	12. Income Taxes The Company expects to incur a federal consolidated taxable loss for the year ending December 31, 2015, which will increase the net operating loss (“NOL”) carryforward. The Company believes that it will be able to utilize all of its federal prior year NOLs, which will begin to expire after 2021 2034 800,000 1.4

Legal Proceedings and Contingen

Legal Proceedings and Contingencies	6 Months Ended
	Jun. 30, 2015
Legal Proceedings and Contingencies [Abstract]
Legal Proceedings and Contingencies	13. Legal Proceedings and Contingencies The Company and its subsidiaries are subject to legal proceedings arising in the ordinary course of business. In management's opinion, the Company has adequate legal defenses and/or insurance coverage with respect to the eventuality of such actions, and does not believe the outcome of any pending legal proceedings will be material to the Company's financial position or result of operations.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2015
Subsequent Events [Abstract]
Subsequent Events	14. Subsequent Events Dividend On July 30, 2015 1.11 August 18, 2015 August 13, 2015

(Loss) Income per Share (Tables

(Loss) Income per Share (Tables)	6 Months Ended
	Jun. 30, 2015
(Loss) Income per Share [Abstract]
Reconciliation of Earnings Income (Loss) per Share	Quarter Ended Six Months Ended 2015 2014 2015 2014 Weighted average number of shares outstanding: basic 79,246,069 56,559,924 76,214,929 56,465,136 Dilutive effect of restricted stock unit grants and convertible senior notes — 12,595 — 12,752 Weighted average number of shares outstanding: diluted 79,246,069 56,572,519 76,214,929 56,477,888
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]	Quarter Ended Six Months Ended 2015 2014 2015 2014 Restricted stock unit grants 7,843 — 10,172 — Convertible senior notes 4,238,274 — 4,183,427 — Total 4,246,117 — 4,193,599 —

Acquisitions (Tables)

Acquisitions (Tables)	6 Months Ended
	Jun. 30, 2015
Business Acquisition [Line Items]
Schedule of Assets Acquired and Liabilities Assumed	Restricted cash $ 12,440 Accounts receivable 5,471 Inventories 3,155 Prepaid expenses 1,835 Other current assets 479 Total current assets 23,380 Property, equipment and leasehold improvements 719,990 Intangible assets – contractual arrangements (1) 61,463 Goodwill (2) 26,462 Total assets acquired $ 831,295 Accounts payable $ 1,926 Accrued expenses 1,084 Current portion of long-term debt 5,250 Fair value of derivative instruments – current 6,196 Tolling agreements – current (3) 6,368 Other current liabilities 179 Total current liabilities 21,003 Long-term debt, net of current portion 503,827 Tolling agreements – noncurrent (3) 75,392 Fair value of derivative instruments – non-current 15,279 Other noncurrent liabilities 538 Total liabilities assumed 616,039 Net assets acquired $ 215,256 (1) Contractual arrangements are being amortized over a seventeen (2) Goodwill is deductible for tax purposes. (3) Tolling agreements represent agreements with an off-taker where BEC agreed to sell 62.5 thirteen

Property, Equipment, Land and25

Property, Equipment, Land and Leasehold Improvements (Tables)	6 Months Ended
	Jun. 30, 2015
Property, Equipment, Land and Leasehold Improvements [Abstract]
Schedule of Property and Equipment	June 30, December 31, Land $ 271,521 $ 272,110 Easements 131 131 Buildings 40,986 40,730 Leasehold and land improvements 562,859 439,962 Machinery and equipment 3,423,823 2,810,531 Furniture and fixtures 28,984 28,664 Construction in progress 103,908 72,241 4,432,212 3,664,369 Less: accumulated depreciation (394,235 ) (301,784 ) Property, equipment, land and leasehold improvements, net $ 4,037,977 $ 3,362,585

Intangible Assets (Tables)

Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2015
Intangible Assets [Abstract]
Schedule of Intangible Assets	June 30, December 31, 2014 Contractual arrangements $ 891,988 $ 873,406 Non-compete agreements 9,665 9,665 Customer relationships 341,457 342,232 Leasehold rights 350 350 Trade names 16,091 16,091 Technology 8,760 8,760 1,268,311 1,250,504 Less: accumulated amortization (308,235 ) (290,870 ) Intangible assets, net $ 960,076 $ 959,634
Schedule of Goodwill	Goodwill acquired in business combinations, net of disposals, at December 31, 2014 $ 2,120,424 Less: accumulated impairment charges (123,200 ) Less: other (965 ) Balance at December 31, 2014 1,996,259 Add: goodwill related to 2015 acquisitions 29,906 Less: purchase accounting adjustments related to 2014 acquisitions (6,241 ) Less: other (720 ) Balance at June 30, 2015 $ 2,019,204

Long-Term Debt (Tables)

Long-Term Debt (Tables)	6 Months Ended
	Jun. 30, 2015
Long-Term Debt [Abstract]
Schedule of Long-Term Debt	June 30, December 31, IMTT $ 1,129,322 $ 953,061 Atlantic Aviation 607,972 611,328 CP&E 543,814 298,132 Hawaii Gas 180,000 180,000 MIC Corporate 349,975 350,000 Total 2,811,083 2,392,521 Less: current portion (28,346 ) (27,655 ) Long-term portion $ 2,782,737 $ 2,364,866
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Schedule of Material Terms	Facility Terms USD Revolving Credit Facility CAD Revolving Credit Facility Total Committed Amount $ 550.0 $ 50.0 Amount Outstanding at June 30, 2015 Undrawn $ 797,000 Maturity May 21, 2020 May 21, 2020 Amortization Revolving, payable at maturity Revolving, payable at maturity Interest Rate LIBOR plus 1.625 Bankers' Acceptances (BA) Rate plus 1.625 Commitment Fees 0.3125 0.3125 Security Unsecured Unsecured
Senior Notes [Member]
Debt Instrument [Line Items]
Schedule of Material Terms	Facility Terms Senior Notes, Series A Senior Notes, Series B Amount Outstanding at June 30, 2015 $ 325.0 $ 275.0 Maturity May 21, 2025 May 21, 2027 Amortization Payable at maturity Payable at maturity Interest Rate 3.92 4.02 Security Unsecured Unsecured
Tax-exempt bonds [Member]
Debt Instrument [Line Items]
Schedule of Material Terms	Facility Terms Louisiana Public Facilities Authority Revenue Bonds, Series 2007 The Industrial Development Board of the Parish of Ascension, Louisiana Revenue Bonds, Series 2007 Louisiana Public Facilities Authority Gulf Opportunity Zone Revenue Bonds, Series 2010 Louisiana Public Facilities Authority Revenue Bonds, Series 2010A Louisiana Public Facilities Authority Revenue Bonds, Series 2010B Amount Outstanding at June 30, 2015 $ 50.0 $ 165.0 $ 85.0 $ 90.9 $ 81.8 Maturity June 2043 June 2043 August 2046 December 2040 December 2040 Amortization Payable at maturity, subject to tender in May 2022 Payable at maturity, subject to tender in May 2022 Payable at maturity, subject to tender in May 2022 Payable at maturity, subject to tender in May 2022 Payable at maturity, subject to tender in May 2022 Interest Rate One-month LIBOR plus Revolving Credit Facility margin plus 0.625 75 One-month LIBOR plus Revolving Credit Facility margin plus 0.625 75 One-month LIBOR plus Revolving Credit Facility margin plus 0.625 67 One-month LIBOR plus Revolving Credit Facility margin plus 0.625 67 One-month LIBOR plus Revolving Credit Facility margin plus 0.625 67 Security Unsecured Unsecured Unsecured Unsecured Unsecured
NJEDA Bonds [Member]
Debt Instrument [Line Items]
Schedule of Material Terms	Facility Terms New Jersey Economic Development Authority Amount Outstanding at June 30, 2015 $ 36.3 Maturity December 2027 Amortization Payable at maturity, subject to tender in May 2022 Interest Rate One-month LIBOR plus Revolving Credit Facility margin plus 0.625 75 Security Unsecured

Derivative Instruments and He28

Derivative Instruments and Hedging Activities (Tables)	6 Months Ended
	Jun. 30, 2015
Derivative Instruments and Hedging Activities [Abstract]
Schedule of Fair Value of Derivative Instruments	Assets (Liabilities) at (1) Derivative Contracts Balance Sheet Location June 30, December 31, Fair value of derivative instruments – non-current assets (2) (3) $ 8,276 $ 584 Total derivative contracts – assets (2) (3) $ 8,276 $ 584 Fair value of derivative instruments – current liabilities (2) (3) $ (24,846 ) $ (32,111 ) Fair value of derivative instruments – non-current liabilities (2) (23,689 ) (27,724 ) Total derivative contracts – liabilities (2) (3) $ (48,535 ) $ (59,835 ) (1) Fair value measurements at reporting date were made using significant other observable inputs (“level 2”). (2) Derivative contracts include interest rate swaps. (3) Derivative contracts include commodity hedges.
Schedule of Location of Hedging Activities	Derivative Contracts Not Designated as Hedging Instruments Amount of Gain (Loss) Recognized in Consolidated Condensed Statements of Operations for the Quarter Amount of Loss Recognized in Consolidated Condensed Statements of Operations for the Six Months Financial Statement Account 2015 2014 2015 2014 Interest expense – Interest rate cap $ — $ — $ — $ (1 ) Interest expense – Interest rate swaps (1) 3,087 (8,618 ) (9,832 ) (13,950 ) Cost of product sales – Commodity swaps (952 ) — (970 ) — Total $ 2,135 $ (8,618 ) $ (10,802 ) $ (13,951 ) (1) Interest expense for the quarter and six months ended June 30, 2014 includes $ 8.3 13.4 269,000 508,000

Shareholders' Equity (Tables)

Shareholders' Equity (Tables)	6 Months Ended
	Jun. 30, 2015
Shareholders' Equity [Abstract]
Schedule of Accumulated Other Comprehensive Loss	Cash Flow (1) Post-Retirement Translation (2) Total Noncontrolling Total Balance at December 31, 2013 $ (636 ) $ (8,021 ) $ (46 ) $ (8,703 ) $ 258 $ (8,445 ) Reclassification of realized losses of derivatives into earnings 321 — — 321 (153 ) 168 Translation adjustment — — 4 4 — 4 Balance at June 30, 2014 $ (315 ) $ (8,021 ) $ (42 ) $ (8,378 ) $ 105 $ (8,273 ) Balance at December 31, 2014 $ — $ (18,837 ) $ (4,859 ) $ (23,696 ) $ 2,146 $ (21,550 ) Translation adjustment — — (4,051 ) (4,051 ) 1,626 (2,425 ) Balance at June 30, 2015 $ — $ (18,837 ) $ (8,910 ) $ (27,747 ) $ 3,772 $ (23,975 ) (1) For the six months ended June 30, 2014, reclassification of realized losses of derivatives is composed of (i) pre-tax derivative losses into interest expense of $ 508,000 202,000 23,000 8,000 (2) Translation adjustment is presented net of taxes of $ 1.7 2,000

Reportable Segments (Tables)

Reportable Segments (Tables)	6 Months Ended
	Jun. 30, 2015
Schedule of Revenue From External Customers	Quarter Ended June 30, 2015 IMTT Atlantic Contracted Hawaii Total Service revenue $ 142,384 $ 185,425 $ — $ — $ 327,809 Product revenue — — 36,121 59,759 95,880 Total revenue $ 142,384 $ 185,425 $ 36,121 $ 59,759 $ 423,689 Quarter Ended June 30, 2014 Atlantic Contracted Hawaii Total Service revenue $ 193,212 $ 12,057 $ — $ 205,269 Product revenue — 5,830 69,134 74,964 Financing and equipment lease income — 710 — 710 Total revenue $ 193,212 $ 18,597 $ 69,134 $ 280,943 Six Months Ended June 30, 2015 IMTT Atlantic Contracted Hawaii Total Service revenue $ 280,445 $ 373,366 $ — $ — $ 653,811 Product revenue — — 47,953 120,423 168,376 Total revenue $ 280,445 $ 373,366 $ 47,953 $ 120,423 $ 822,187 Six Months Ended June 30, 2014 Atlantic Contracted Hawaii Total Service revenue $ 387,173 $ 20,535 $ — $ 407,708 Product revenue — 9,488 138,485 147,973 Financing and equipment lease income — 1,457 — 1,457 Total revenue $ 387,173 $ 31,480 $ 138,485 $ 557,138
Schedule of EBITDA for Reportable Segments	Quarter Ended June 30, 2015 IMTT Atlantic Contracted Hawaii Total Net income (loss) $ 21,096 $ 12,208 $ (5,138 ) $ 6,430 $ 34,596 Interest expense, net 6,263 5,605 4,945 1,806 18,619 Provision for income taxes 14,659 8,335 3,683 4,068 30,745 Depreciation 28,907 8,013 12,772 2,109 51,801 Amortization of intangibles 2,766 13,797 1,082 257 17,902 Loss on disposal of assets — 95 — — 95 Other non-cash expense (income) 1,957 653 (2,099 ) 1,219 1,730 EBITDA excluding non-cash items $ 75,648 $ 48,706 $ 15,245 $ 15,889 $ 155,488 Quarter Ended June 30, 2014 Atlantic Contracted Hawaii Total Net income $ 5,698 $ 1,154 $ 6,294 $ 13,146 Interest expense, net 13,352 2,690 1,891 17,933 Provision for income taxes 3,855 616 4,092 8,563 Depreciation (1) 6,789 5,363 1,983 14,135 Amortization of intangibles 8,818 326 312 9,456 Loss on disposal of assets 816 — — 816 Other non-cash expense (income) 88 (2,125 ) 408 (1,629 ) EBITDA excluding non-cash items $ 39,416 $ 8,024 $ 14,980 $ 62,420 (1) Depreciation includes depreciation expense for the district energy business, a component of the CP&E segment prior to the Company's divestiture of the business on August 21, 2014, which was reported in cost of services in the consolidated condensed statements of operations. Six Months Ended June 30, 2015 IMTT Atlantic Contracted Hawaii Total Net income (loss) $ 41,370 $ 10,581 $ (8,677 ) $ 15,285 $ 58,559 Interest expense, net 13,169 18,690 11,283 3,749 46,891 Provision (benefit) for income taxes 28,748 (7,304 ) 2,865 9,600 33,909 Depreciation 62,022 23,012 20,038 4,151 109,223 Amortization of intangibles 5,530 58,513 1,261 569 65,873 Loss on disposal of assets — 548 — — 548 Other non-cash expense (income) 3,213 925 (5,040 ) (611 ) (1,513 ) EBITDA excluding non-cash items $ 154,052 $ 104,965 $ 21,730 $ 32,743 $ 313,490 Six Months Ended June 30, 2014 Atlantic Contracted Hawaii Total Net income (loss) $ 16,253 $ (261 ) $ 12,489 $ 28,481 Interest expense, net 22,917 5,335 3,678 31,930 Provision for income taxes 8,770 1,215 8,119 18,104 Depreciation (1) 13,591 10,473 3,929 27,993 Amortization of intangibles 16,949 648 624 18,221 Loss on disposal of assets 816 — — 816 Other non-cash expense (income) 156 (2,890 ) 1,132 (1,602 ) EBITDA excluding non-cash items $ 79,452 $ 14,520 $ 29,971 $ 123,943 (1) Depreciation includes depreciation expense for the district energy business, a component of the CP&E segment prior to the Company's divestiture of the business on August 21, 2014, which was reported in cost of services in the consolidated condensed statements of operations.
Schedule of Capital Expenditures	Quarter Ended Six Months Ended 2015 2014 2015 2014 IMTT $ 8,350 $ — $ 20,219 $ — Atlantic Aviation 10,919 7,947 19,142 16,672 Contracted Power and Energy 308 2,077 308 11,400 Hawaii Gas 4,967 4,416 10,356 7,981 Total $ 24,544 $ 14,440 $ 50,025 $ 36,053
Schedule of Assets of Reportable Segments	Property, Equipment, Goodwill Total Assets 2015 2014 2015 2014 2015 2014 IMTT $ 2,229,637 $ — $ 1,411,629 $ — $ 4,135,842 $ — Atlantic Aviation 332,320 314,628 460,920 458,488 1,484,589 1,575,588 Contracted Power and Energy 1,272,499 390,101 26,462 17,946 1,428,412 482,547 Hawaii Gas 203,521 189,936 120,193 120,193 384,085 403,681 Total $ 4,037,977 $ 894,665 $ 2,019,204 $ 596,627 $ 7,432,928 $ 2,461,816
Schedule of Reconciliation of Assets of Reportable Segments	As of June 30, 2015 2014 Total assets of reportable segments $ 7,432,928 $ 2,461,816 Investment in unconsolidated business — 71,434 Corporate and other 59,744 9,255 Total consolidated assets $ 7,492,672 $ 2,542,505
IMTT [Member]
Schedule of Selected Consolidated Financial Data	Quarter Ended Six Months Revenue $ 423,461 $ 847,734 Net income attributable to MIC (1) 18,859 52,172 (1) The tax rate used to calculate net income attributable to MIC was 35.0
Schedule of Segment Information	As of, and for the Quarter Ended (1) Six Months Ended June 30, 2014 (1) Revenue $ 142,518 $ 290,596 Net income $ 24,003 $ 54,984 Interest expense, net 8,813 15,946 Provision for income taxes 15,455 36,557 Depreciation and amortization 19,646 37,920 Other non-cash expense 1,518 3,501 EBITDA excluding non-cash items (2) $ 69,435 $ 148,908 Capital expenditures paid $ 24,272 $ 53,893 Property, equipment, land and leasehold improvements, net 1,285,148 1,285,148 Total assets 1,386,959 1,386,959 (1) Amounts represent financial position of IMTT business prior to July 16, 2014, the date of the IMTT Acquisition. (2) EBITDA consists of earnings before interest, taxes, depreciation and amortization. Non-cash items that are excluded consist of impairments, derivative gains and losses and all other non-cash income and expense items.
Reportable Segment [Member]
Schedule of EBITDA for Reportable Segments	Quarter Ended Six Months Ended 2015 2014 2015 2014 Total reportable segments EBITDA excluding non-cash items (1) $ 155,488 $ 62,420 $ 313,490 $ 123,943 Interest income 7 31 13 95 Interest expense (22,342 ) (17,945 ) (53,863 ) (31,956 ) Depreciation (2) (51,801 ) (14,135 ) (109,223 ) (27,993 ) Amortization of intangibles (17,902 ) (9,456 ) (65,873 ) (18,221 ) Loss on disposal of assets (95 ) (816 ) (548 ) (816 ) Selling, general and administrative - corporate (3,693 ) (2,233 ) (6,639 ) (3,279 ) Fees to manager–related party (154,559 ) (14,495 ) (319,832 ) (23,489 ) Equity in earnings and amortization charges of (1) — 10,799 — 25,086 Other (expense) income, net (2,151 ) 1,059 (421 ) 505 Total consolidated net (loss) income before income $ (97,048 ) $ 15,229 $ (242,896 ) $ 43,875 (1) For the quarter and six months ended June 30, 2015, total reportable segments' EBITDA excluding non-cash items includes the results of IMTT's EBITDA excluding non-cash items. Prior to July 16, 2014, the date of the IMTT Acquisition, MIC accounted for its 50 50 (2) Depreciation includes depreciation expense for the district energy business, a component of the CP&E segment prior to the Company's divestiture of the business on August 21, 2014, which was reported in cost of services in the consolidated condensed statements of operations.

Related Party Transactions (Tab

Related Party Transactions (Tables)	6 Months Ended
	Jun. 30, 2015
Related Party Transactions [Abstract]
Schedule of Dividends Paid to Manager	Declared Period Covered $ per Record Date Payable Date Cash Paid July 30, 2015 Second quarter 2015 $ 1.11 August 13, 2015 August 18, 2015 $ (1) April 30, 2015 First quarter 2015 $ 1.07 May 14, 2015 May 19, 2015 $ 7,281 February 17, 2015 Fourth quarter 2014 $ 1.02 March 2, 2015 March 5, 2015 $ 4,905 October 27, 2014 Third quarter 2014 $ 0.98 November 10, 2014 November 13, 2014 $ 4,438 July 3, 2014 Second quarter 2014 $ 0.95 August 11, 2014 August 14, 2014 $ 3,402 April 28, 2014 First quarter 2014 $ 0.9375 May 12, 2014 May 15, 2014 $ 3,180 February 18, 2014 Fourth quarter 2013 $ 0.9125 March 3, 2014 March 6, 2014 $ 2,945 (1) The amount of dividend payable to the Manager for the second quarter of 2015 will be determined on August 13, 2015, the record date.
Schedule of Base Management Fees and Performance Fees	Period Base Management Performance Shares 2015 Activities: Second quarter 2015 $ 18,918 $ 135,641 223,827 (1) First quarter 2015 16,545 148,728 2,068,038 2014 Activities: Fourth quarter 2014 $ 14,192 $ — 208,122 Third quarter 2014 13,915 116,586 947,583 (2) Second quarter 2014 9,535 4,960 243,329 First quarter 2014 8,994 — 164,546 (1) In July 2015, the Board requested, and the Manager agreed, that $ 67.8 223,827 73,986 (2) In October 2014, the Board requested, and the Manager agreed, that $ 65.0 51.6

Organization and Description 32

Organization and Description of Business (Details)	Jun. 30, 2015
Atlantic Aviation [Member]
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items]
Number of Airport Locations	69
United States- IMTT [Member]
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items]
Number of marine terminals	10
Canada- IMTT [Member]
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items]
Number of marine terminals	2

(Loss) Income per Share (Schedu

(Loss) Income per Share (Schedule of Reconciliation of Number of Shares Used in Computing (Loss) Income per Share) (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Reconciliation of the basic and diluted number of shares of common stock used in computing (loss) income per share:
Weighted average number of shares outstanding: basic	79,246,069	56,559,924	76,214,929	56,465,136
Dilutive effect of restricted stock unit grants and convertible senior notes		12,595		12,752
Weighted average number of shares outstanding: diluted	79,246,069	56,572,519	76,214,929	56,477,888

(Loss) Income per Share (Narrat

(Loss) Income per Share (Narrative) (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Class Of Stock [Line Items]
Antidilutive securities	4,246,117		4,193,599
Restricted stock unit grants June 18, 2015 [Member]
Class Of Stock [Line Items]
Antidilutive securities	8,660		8,660
Restricted stock unit grants May 21, 2014 [Member]
Class Of Stock [Line Items]
Potentially dilutive shares		12,525		12,525
Antidilutive securities	12,525		12,525
Restricted stock unit grants May 20, 2013 [Member]
Class Of Stock [Line Items]
Potentially dilutive shares		12,910		12,910

(Loss) Income per Share (Sche35

(Loss) Income per Share (Schedule of Shares Excluded from Calculation) (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities	4,246,117		4,193,599
Restricted Stock Unit Grants [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities	7,843		10,172
Convertible Senior Notes [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities	4,238,274		4,183,427

Acquisitions (Details)

Acquisitions (Details) $ in Millions	Apr. 01, 2015USD ($)	Jun. 30, 2015USD ($)	Dec. 31, 2014USD ($)MW	Mar. 31, 2015USD ($)MW
2014 wind power generation facilities [Member]
Business Acquisition [Line Items]
Business acquisition, purchase price			$ 106.1
Number of wind turbines			134
Electricity generating capacity | MW			203
Fair value of wind turbines			$ 316.2
Amortizing term loan debt assumed			163.9
Transaction related costs			$ 2
Bayonne Energy Center [Member]
Business Acquisition [Line Items]
Equity interest acquired				100.00%
Business acquisition, purchase price	$ 724.3
Business acquisition, cash paid	$ 215.2
Percentage of contracted tolling agreement				62.50%
Electricity generating capacity | MW				512
Amortizing term loan debt assumed				$ 509.1
Transaction related costs		$ 9.1

Acquisitions (Schedule of Asset

Acquisitions (Schedule of Assets Acquired and Liabilities Assumed) (Details) - USD ($) $ in Thousands		6 Months Ended
		Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Jun. 30, 2014
Business Acquisition [Line Items]
Goodwill		$ 2,019,204		$ 1,996,259	$ 596,627
Bayonne Energy Center [Member]
Business Acquisition [Line Items]
Restricted cash			$ 12,440
Accounts receivable			5,471
Inventories			3,155
Prepaid expenses			1,835
Other current assets			479
Total current assets			23,380
Property, equipment, land and leasehold improvements			719,990
Goodwill	[1]		26,462
Total assets acquired			831,295
Accounts payable			1,926
Accrued expenses			1,084
Current portion of long term debt			5,250
Fair value of derivative instruments - current	[2]		6,196
Tolling agreements - current			6,368
Other current liabilities			179
Total current liabilities			21,003
Long-term debt, net of current portion			503,827
Tolling agreements - noncurrent	[2]		75,392
Fair value of derivative instruments - non-current			15,279
Other noncurrent liabilities			538
Total liabilities assumed			616,039
Net assets acquired			$ 215,256
Weighted average remaining life of tolling agreements		13 years
Percentage of contracted tolling agreement			62.50%
Bayonne Energy Center [Member] | Contractual Rights [Member]
Business Acquisition [Line Items]
Intangible assets	[3]		$ 61,463
Finite Lived Intangible assets, useful life		17 years
[1]	Goodwill is deductible for tax purposes.
[2]	Tolling agreements represent agreements with an off-taker where BEC agreed to sell 62.5% of its capacity, energy and ancillary services for fixed monthly tolling and capacity payments and monthly variable operation and maintenance fees (“O&M”). Fixed payments received under these contracts were below prevailing market rates at the date of acquisition. The difference between the present value of the fixed payments and the present value of the market rates at the date of acquisition is recorded as a liability on the consolidated condensed balance sheet as part of purchase accounting. This liability will be amortized over the weighted average life of the tolling agreements of approximately thirteen years.
[3]	Contractual arrangements are being amortized over a seventeen year period.

Property, Equipment, Land and38

Property, Equipment, Land and Leasehold Improvements (Schedule of Property and Equipment) (Details) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended
	Jun. 30, 2015	Mar. 31, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Property, Equipment, Land and Leasehold Improvements [Abstract]
Land	$ 271,521			$ 271,521		$ 272,110
Easements	131			131		131
Buildings	40,986			40,986		40,730
Leasehold and land improvements	562,859			562,859		439,962
Machinery and equipment	3,423,823			3,423,823		2,810,531
Furniture and fixtures	28,984			28,984		28,664
Construction in progress	103,908			103,908		72,241
Property, equipment, land and leasehold improvements, gross	4,432,212			4,432,212		3,664,369
Less: accumulated depreciation	(394,235)			(394,235)		(301,784)
Property, equipment, land and leasehold improvements, net	4,037,977		$ 894,665	4,037,977	$ 894,665	$ 3,362,585
Property, Plant and Equipment [Line Items]
Depreciation	51,801		12,428	109,223	24,582
Bayonne Energy Center [Member]
Property, Plant and Equipment [Line Items]
Property, equipment, land and leasehold improvements		$ 719,990
Atlantic Aviation [Member]
Property, Equipment, Land and Leasehold Improvements [Abstract]
Property, equipment, land and leasehold improvements, net	$ 332,320		$ 314,628	332,320	$ 314,628
Leasehold and Land Improvements [Member] | Atlantic Aviation [Member] | Multiple FBOs [Member]
Property, Plant and Equipment [Line Items]
Fixed assets impairment charge		2,800
Leasehold and Land Improvements [Member] | Atlantic Aviation [Member] | One specific FBO [Member]
Property, Plant and Equipment [Line Items]
Fixed assets impairment charge		$ 4,200
Leasehold and Land Improvements [Member] | Atlantic Aviation [Member] | Incremental depreciation due to change in policy [Member]
Property, Plant and Equipment [Line Items]
Depreciation				$ 2,100

Intangible Assets (Schedule of

Intangible Assets (Schedule of Intangible Assets) (Details) - USD ($) $ in Thousands		3 Months Ended			6 Months Ended
		Jun. 30, 2015	Mar. 31, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Intangible Assets [Abstract]
Contractual arrangements		$ 891,988			$ 891,988		$ 873,406
Non-compete agreements		9,665			9,665		9,665
Customer relationships		341,457			341,457		342,232
Leasehold rights		350			350		350
Trade names		16,091			16,091		16,091
Technology		8,760			8,760		8,760
Intangible assets, gross		1,268,311			1,268,311		1,250,504
Less: accumulated amortization		(308,235)			(308,235)		(290,870)
Intangible assets, net		960,076			960,076		$ 959,634
Finite Lived Intangible Assets [Line Items]
Amortization of intangibles		17,902		$ 9,456	65,873	$ 18,221
Atlantic Aviation [Member]
Finite Lived Intangible Assets [Line Items]
Amortization of intangibles		$ 13,797		$ 8,818	58,513	$ 16,949
Contractual Rights [Member] | Bayonne Energy Center [Member]
Finite Lived Intangible Assets [Line Items]
Intangible assets	[1]		$ 61,463
Contractual Rights [Member] | Atlantic Aviation [Member] | Multiple FBOs [Member]
Finite Lived Intangible Assets [Line Items]
Intangible impairment charge			13,500
Contractual Rights [Member] | Atlantic Aviation [Member] | One specific FBO [Member]
Finite Lived Intangible Assets [Line Items]
Intangible impairment charge			$ 17,800
Contractual Rights [Member] | Atlantic Aviation [Member] | Incremental amortization due to change in policy [Member]
Finite Lived Intangible Assets [Line Items]
Amortization of intangibles					$ 9,100
[1]	Contractual arrangements are being amortized over a seventeen year period.

Intangible Assets (Schedule o40

Intangible Assets (Schedule of Goodwill) (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Intangible Assets [Abstract]
Goodwill acquired in business combinations, net of disposals		$ 2,120,424
Less: accumulated impairment charges		(123,200)
Balance at December 31, 2014	$ 1,996,259
Add: goodwill related to 2015 acquisitions	29,906
Less: purchase accounting adjustments related to 2014 acquisitions	(6,241)
Less: other	(720)	(965)
Balance at June 30, 2015	$ 2,019,204	$ 1,996,259

Long-Term Debt (Schedule of Lon

Long-Term Debt (Schedule of Long-Term Debt) (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Current and long-term Debt	$ 2,811,083	$ 2,392,521
Less: current portion	(28,346)	(27,655)
Long-term portion	2,782,737	2,364,866
IMTT [Member]
Debt Instrument [Line Items]
Current and long-term Debt	1,129,322	953,061
Atlantic Aviation [Member]
Debt Instrument [Line Items]
Current and long-term Debt	607,972	611,328
Contracted Power and Energy Businesses [Member]
Debt Instrument [Line Items]
Current and long-term Debt	543,814	298,132
Hawaii Gas Business [Member]
Debt Instrument [Line Items]
Current and long-term Debt	180,000	180,000
MIC Corporate [Member]
Debt Instrument [Line Items]
Current and long-term Debt	$ 349,975	$ 350,000

Long-Term Debt (Narrative) (Det

Long-Term Debt (Narrative) (Details) - Line of Credit Facility, Lender [Domain]	Jun. 30, 2015USD ($)item	Jul. 31, 2015USD ($)	Jun. 30, 2015USD ($)item	Jun. 30, 2015USD ($)item	Jun. 18, 2015USD ($)	Jul. 31, 2014USD ($)	May. 27, 2015USD ($)	Jun. 30, 2015USD ($)item	Jun. 02, 2015	Jun. 30, 2015USD ($)item	Jun. 30, 2014USD ($)	Jun. 30, 2015USD ($)item	Jan. 01, 2019	Jan. 01, 2017	May. 21, 2015USD ($)	Apr. 30, 2015USD ($)	Mar. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Jul. 15, 2014USD ($)
Debt Disclosure [Line Items]
Convertible senior notes converted to equity										$ 25,000
Current and long-term debt	$ 2,811,083,000		$ 2,811,083,000	$ 2,811,083,000				$ 2,811,083,000		2,811,083,000		$ 2,811,083,000						$ 2,392,521,000
Revolving Credit Facility [Member]
Debt Disclosure [Line Items]
Undrawn portion of line of credit	1,100,000,000		1,100,000,000	1,100,000,000				1,100,000,000		1,100,000,000		1,100,000,000
Revolving Credit Facility [Member] | United States- IMTT [Member]
Debt Disclosure [Line Items]
Borrowing capacity	550,000,000		550,000,000	$ 550,000,000				550,000,000		$ 550,000,000		550,000,000
Fixed portion of interest rate component				1.625%
Maturity										May 21, 2020
Revolving Credit Facility [Member] | Canada- IMTT [Member]
Debt Disclosure [Line Items]
Borrowing capacity	50,000,000		50,000,000	$ 50,000,000				50,000,000		$ 50,000,000		50,000,000
Line of credit, amount outstanding	797,000		797,000	$ 797,000				797,000		$ 797,000		797,000
Fixed portion of interest rate component				1.625%
Maturity										May 21, 2020
IMTT [Member] | Tax-exempt bonds [Member]
Debt Disclosure [Line Items]
Current and long-term debt															$ 509,000,000
IMTT [Member] | Tax-exempt bonds [Member] | Interest Rate Swap [Member]
Debt Disclosure [Line Items]
Notional amount of derivative	$ 361,100,000		$ 361,100,000	$ 361,100,000				$ 361,100,000		$ 361,100,000		$ 361,100,000
Derivative, Number of Instruments Held | item	2		2	2				2		2		2
Fixed interest rate	1.677%		1.677%	1.677%				1.677%		1.677%		1.677%
Derivative, Term of Contract										6 years
Derivatives, expiration date										Jun. 1, 2021
Payment on early termination of interest rate swap agreement				$ 31,400,000
Idaho Wind Partners [Member] | Term Loan Facility [Member]
Debt Disclosure [Line Items]
Weighted average interest rate	4.755%		4.755%	4.755%				4.755%		4.755%		4.755%
Fixed portion of interest rate component			1.625%						2.75%
Change in fixed interest rate			0.20%
2014 wind power generation facilities [Member]
Debt Disclosure [Line Items]
Amortizing term loan debt assumed																		163,900,000
Bayonne Energy Center [Member]
Debt Disclosure [Line Items]
Long-term debt, net of current portion																	$ 503,827,000
Variable Term Loan Interest Rate Floor								1.00%
Current and long-term debt	$ 251,500,000		$ 251,500,000	$ 251,500,000				$ 251,500,000		$ 251,500,000		$ 251,500,000
Fixed portion of interest rate component										4.00%
Amortizing term loan debt assumed																	509,100,000
Bayonne Energy Center [Member] | Interest Rate Swap [Member]
Debt Disclosure [Line Items]
Notional amount of derivative	$ 249,900,000		$ 249,900,000	$ 249,900,000				$ 249,900,000		$ 249,900,000		$ 249,900,000					255,100,000
Derivative, Number of Instruments Held | item	3		3	3				3		3		3
Fixed interest rate	3.455%		3.455%	3.455%				3.455%		3.455%		3.455%
Derivatives, expiration date										Aug. 21, 2021
Payment on early termination of interest rate swap agreement		$ 19,200,000
Bayonne Energy Center [Member] | Interest Rate Swap [Member] | Future Scheduled Step-up [Member]
Debt Disclosure [Line Items]
Fixed interest rate													3.955%	3.705%
Bayonne Energy Center [Member] | Revolving Credit Facility [Member]
Debt Disclosure [Line Items]
Letters of credit outstanding																	19,000,000
Borrowing capacity																	$ 30,000,000
Maturity										Aug. 21, 2019
Bayonne Energy Center [Member] | Letter of Credit [Member]
Debt Disclosure [Line Items]
Interest Rate	4.125%		4.125%	4.125%				4.125%		4.125%		4.125%
Bayonne Energy Center [Member] | Term Loan Facility [Member]
Debt Disclosure [Line Items]
Repayments of Debt		251,500,000						$ 257,600,000
Maturity										Aug. 21, 2021
Hawaii Gas Business [Member]
Debt Disclosure [Line Items]
Current and long-term debt	$ 180,000,000		$ 180,000,000	$ 180,000,000				180,000,000		$ 180,000,000		$ 180,000,000						180,000,000
MIC Corporate [Member]
Debt Disclosure [Line Items]
Current and long-term debt	349,975,000		349,975,000	349,975,000				349,975,000		349,975,000		349,975,000						$ 350,000,000
MIC Corporate [Member] | Revolving Credit Facility [Member]
Debt Disclosure [Line Items]
Borrowing capacity	$ 360,000,000		360,000,000	360,000,000		$ 250,000,000		360,000,000		360,000,000		360,000,000				$ 250,000,000
Drawn on revolver credit facility		$ 191,000,000					$ 155,000,000
Repayments of Debt								155,000,000
Debt instrument, term						5 years
Convertible Senior Notes [Member] | MIC Corporate [Member]
Debt Disclosure [Line Items]
Conversion rate	11.7942				12.7836
Convertible senior notes	$ 350,000,000		350,000,000	350,000,000				350,000,000		350,000,000		350,000,000							$ 350,000,000
Convertible senior notes converted to equity					$ 23,000							25,000
Face value of convertible senior notes	$ 1,000		$ 1,000	$ 1,000				$ 1,000		$ 1,000		$ 1,000
Senior secured notes [Member] | IMTT [Member] | Senior Series A Notes [Member]
Debt Disclosure [Line Items]
Interest Rate	3.92%		3.92%	3.92%				3.92%		3.92%		3.92%
Current and long-term debt	$ 325,000,000		$ 325,000,000	$ 325,000,000				$ 325,000,000		$ 325,000,000		$ 325,000,000
Maturity										May 21, 2025
Senior secured notes [Member] | IMTT [Member] | Senior Series B Notes [Member]
Debt Disclosure [Line Items]
Interest Rate	4.02%		4.02%	4.02%				4.02%		4.02%		4.02%
Current and long-term debt	$ 275,000,000		$ 275,000,000	$ 275,000,000				$ 275,000,000		$ 275,000,000		$ 275,000,000
Maturity										May 21, 2027
Loan From Previous Shareholder [Member] | IMTT [Member]
Debt Disclosure [Line Items]
Interest Rate	5.50%		5.50%	5.50%				5.50%		5.50%		5.50%
Debt instrument, term										15 years
Current and long-term debt	$ 19,600,000		$ 19,600,000	$ 19,600,000				$ 19,600,000		$ 19,600,000		$ 19,600,000

Long-Term Debt (Schedule of Mat

Long-Term Debt (Schedule of Material Terms) (Details) - Segment [Domain] - USD ($) $ in Thousands	1 Months Ended	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Current and long-term debt	$ 2,811,083	$ 2,811,083	$ 2,392,521
United States- IMTT [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Borrowing capacity	$ 550,000	$ 550,000
Fixed portion of interest rate component	1.625%
Interest rate and fees, commitment fee percentage	0.3125%
Maturity		May 21, 2020
Canada- IMTT [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Borrowing capacity	$ 50,000	$ 50,000
Line of credit, amount outstanding	$ 797	$ 797
Fixed portion of interest rate component	1.625%
Interest rate and fees, commitment fee percentage	0.3125%
Maturity		May 21, 2020
IMTT [Member] | LA Bonds One [Member]
Debt Instrument [Line Items]
Current and long-term debt	$ 50,000	$ 50,000
Fixed portion of interest rate component	0.625%
Percentage of 30-day LIBOR	75.00%	75.00%
Maturity		Jun. 1, 2043
Tender period		May 21, 2022
IMTT [Member] | LA Bonds Two [Member]
Debt Instrument [Line Items]
Current and long-term debt	$ 165,000	$ 165,000
Fixed portion of interest rate component	0.625%
Percentage of 30-day LIBOR	75.00%	75.00%
Maturity		Jun. 1, 2043
Tender period		May 21, 2022
IMTT [Member] | LA Bonds Three [Member]
Debt Instrument [Line Items]
Current and long-term debt	$ 85,000	$ 85,000
Fixed portion of interest rate component	0.625%
Percentage of 30-day LIBOR	67.00%	67.00%
Maturity		Aug. 1, 2046
Tender period		May 21, 2022
IMTT [Member] | LA Bonds Four [Member]
Debt Instrument [Line Items]
Current and long-term debt	$ 90,900	$ 90,900
Fixed portion of interest rate component	0.625%
Percentage of 30-day LIBOR	67.00%	67.00%
Maturity		Dec. 1, 2040
Tender period		May 21, 2022
IMTT [Member] | LA Bonds Five [Member]
Debt Instrument [Line Items]
Current and long-term debt	$ 81,800	$ 81,800
Fixed portion of interest rate component	0.625%
Percentage of 30-day LIBOR	67.00%	67.00%
Maturity		Dec. 1, 2040
Tender period		May 21, 2022
IMTT [Member] | New Jersey Economic Development Authority Revenue Refund Bonds [Member]
Debt Instrument [Line Items]
Current and long-term debt	$ 36,300	$ 36,300
Fixed portion of interest rate component	0.625%
Percentage of 30-day LIBOR	75.00%	75.00%
Maturity		Dec. 1, 2027
Tender period		May 21, 2022
IMTT [Member] | Senior Notes [Member] | Senior Series A Notes [Member]
Debt Instrument [Line Items]
Current and long-term debt	$ 325,000	$ 325,000
Interest Rate	3.92%	3.92%
Maturity		May 21, 2025
IMTT [Member] | Senior Notes [Member] | Senior Series B Notes [Member]
Debt Instrument [Line Items]
Current and long-term debt	$ 275,000	$ 275,000
Interest Rate	4.02%	4.02%
Maturity		May 21, 2027

Derivative Instruments and He44

Derivative Instruments and Hedging Activities (Narrative) (Details) $ in Thousands	1 Months Ended			3 Months Ended	5 Months Ended	6 Months Ended
	Jul. 31, 2015USD ($)	Jun. 30, 2015USD ($)item	Jun. 30, 2015USD ($)item	Jun. 30, 2015USD ($)item	Jun. 02, 2015	Jun. 30, 2015USD ($)item	Jan. 01, 2019	Jan. 01, 2017	May. 21, 2015USD ($)	Mar. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Derivative [Line Items]
Fixed rate debt		$ 1,200,000	$ 1,200,000	$ 1,200,000		$ 1,200,000
Unhedged debt		150,200	150,200	150,200		150,200
Current and long-term debt		2,811,083	2,811,083	2,811,083		2,811,083					$ 2,392,521
2014 wind power generation facilities [Member]
Derivative [Line Items]
Amortizing term loan debt assumed											163,900
Bayonne Energy Center [Member]
Derivative [Line Items]
Current and long-term debt		$ 251,500	$ 251,500	$ 251,500		$ 251,500
Fixed portion of interest rate component						4.00%
Variable term loan Interest rate floor				1.00%
Amortizing term loan debt assumed										$ 509,100
Revolving Credit Facility [Member] | Bayonne Energy Center [Member]
Derivative [Line Items]
Maturity						Aug. 21, 2019
Term Loan Facility [Member] | Idaho Wind Partners [Member]
Derivative [Line Items]
Fixed portion of interest rate component			1.625%		2.75%
Weighted average interest rate		4.755%	4.755%	4.755%		4.755%
Change in fixed interest rate			0.20%
Term Loan Facility [Member] | Bayonne Energy Center [Member]
Derivative [Line Items]
Maturity						Aug. 21, 2021
Tax-exempt bonds [Member] | IMTT [Member]
Derivative [Line Items]
Current and long-term debt									$ 509,000
Atlantic Aviation [Member]
Derivative [Line Items]
Current and long-term debt		$ 607,972	$ 607,972	$ 607,972		$ 607,972					611,328
IMTT [Member]
Derivative [Line Items]
Current and long-term debt		1,129,322	1,129,322	1,129,322		1,129,322					953,061
Hawaii Gas Business [Member]
Derivative [Line Items]
Current and long-term debt		180,000	180,000	180,000		180,000					$ 180,000
Interest Rate Swaps [Member] | Bayonne Energy Center [Member]
Derivative [Line Items]
Notional amount of derivative		$ 249,900	$ 249,900	$ 249,900		$ 249,900				255,100
Fixed interest rate		3.455%	3.455%	3.455%		3.455%
Derivatives, expiration date						Aug. 21, 2021
Number of interest rate swap contracts | item		3	3	3		3
Payment on early termination of interest rate swap agreement	$ 19,200
Fair value of derivative instruments		$ 19,000	$ 19,000	$ 19,000		$ 19,000				$ 21,500
Interest Rate Swaps [Member] | Bayonne Energy Center [Member] | Future Scheduled Step-up [Member]
Derivative [Line Items]
Fixed interest rate							3.955%	3.705%
Interest Rate Swaps [Member] | Tax-exempt bonds [Member] | IMTT [Member]
Derivative [Line Items]
Notional amount of derivative		$ 361,100	$ 361,100	$ 361,100		$ 361,100
Fixed interest rate		1.677%	1.677%	1.677%		1.677%
Derivatives, expiration date						Jun. 1, 2021
Number of interest rate swap contracts | item		2	2	2		2
Derivative, Term of Contract						6 years
Payment on early termination of interest rate swap agreement		$ 31,400
Interest Rate Contracts [Member]
Derivative [Line Items]
Debt economically hedged with interest rate contracts		$ 1,500,000	$ 1,500,000	$ 1,500,000		$ 1,500,000

Derivative Instruments and He45

Derivative Instruments and Hedging Activities (Schedule of Fair Value of Derivative Instruments) (Details) - USD ($) $ in Thousands		Jun. 30, 2015	Dec. 31, 2014
Derivatives, Fair Value [Line Items]
Fair value of derivative instruments - current liabilities		$ (24,846)	$ (32,111)
Fair value of derivative instruments - non-current liabilities		(23,689)	(27,724)
Not Designated as Hedging Instrument [Member] | Interest Rate Swaps [Member]
Derivatives, Fair Value [Line Items]
Fair value of derivative instruments - non-current liabilities	[1],[2]	(23,689)	(27,724)
Not Designated as Hedging Instrument [Member] | Interest Rate Swaps and Commodity Swaps [Member]
Derivatives, Fair Value [Line Items]
Fair value of derivative instruments - non-current assets	[1],[2],[3]	8,276	584
Total derivative contracts - assets	[1],[2],[3]	8,276	584
Fair value of derivative instruments - current liabilities	[1],[2],[3]	(24,846)	(32,111)
Total derivative contracts - liabilities	[1],[2],[3]	$ (48,535)	$ (59,835)
[1]	Derivative contracts include interest rate swaps.
[2]	Fair value measurements at reporting date were made using significant other observable inputs (“level 2”).
[3]	Derivative contracts include commodity hedges.

Derivative Instruments and He46

Derivative Instruments and Hedging Activities (Schedule of Location of Hedging Activities) (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) on derivative instruments		$ 3,100	$ (8,600)	$ (9,800)	$ (13,900)
Net loss in accumulated other comprehensive income reclassifications for cash flow hedges			$ (269)		(508)
Not Designated as Hedging Instrument [Member] | Interest Expense [Member] | Interest Rate Cap [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) on derivative instruments					(1)
Not Designated as Hedging Instrument [Member] | Interest Expense [Member] | Interest Rate Swaps [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivatives Not Designated as Hedging Instruments -Amount of Gain/(Loss) Recognized in Interest Expense			$ (8,300)		(13,400)
Gains (losses) on derivative instruments	[1]	$ 3,087	(8,618)	$ (9,832)	(13,950)
Net loss in accumulated other comprehensive income reclassifications for cash flow hedges			$ (269)		$ (508)
Not Designated as Hedging Instrument [Member] | Cost of product sales [Member] | Commodity swaps [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) on derivative instruments		(952)		(970)
Not Designated as Hedging Instrument [Member] | Gains (Losses) on Derivative Contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) on derivative instruments		$ 2,135	$ (8,618)	$ (10,802)	$ (13,951)
[1]	Interest expense for the quarter and six months ended June 30, 2014 includes $8.3 million and $13.4 million, respectively, of derivative losses and $269,000 and $508,000, respectively, for amounts reclassified from accumulated other comprehensive loss for the interest rate swap contracts.

Shareholders' Equity (Narrative

Shareholders' Equity (Narrative) (Details) $ / shares in Units, $ in Thousands

May. 21, 2015USD ($)itemshares

Mar. 12, 2015USD ($)shares

Mar. 02, 2015shares

Jul. 15, 2014USD ($)shares

Mar. 31, 2015shares

Jul. 31, 2014shares

Jun. 30, 2015USD ($)$ / sharesshares

Jun. 30, 2014USD ($)

[1]

Jul. 31, 2015$ / shares

Jun. 24, 2015USD ($)$ / shares

Dec. 31, 2014shares

Jul. 16, 2014

Shareholders' Equity [Abstract]

Shares, authorized

500,000,000

Common stock, par value per share | $ / shares

$ 0.001

$ 0.001

Preferred stock, authorized

100,000,000

Preferred stock, par value per share | $ / shares

$ 0.001

Special stock, authorized

100

Special stock, par value per share | $ / shares

$ 0.001

Number of votes for each outstanding share of the Company

1

Shares, issued

79,501,783

71,089,590

Shares, outstanding

79,501,783

71,089,590

Special stock, outstanding

100

Preferred stock, issued

0

Preferred stock, outstanding

0

Shares, authorized under Dividend Reinvestment Plan

1,000,000

Shares, unissued under Dividend Reinvestment Plan

992,405

Shares Activity [Line Items]

Equity offering, shares

6,109,375

11,500,000

Conversion of LLC interests to common stock | $

$ 79

$ 79

[1]

Special stock, issued

100

Common Stock [Member]

Shares Activity [Line Items]

Shares issued per LLC interest

1

At the Market [Member]

Shareholders' Equity [Abstract]

Common stock, par value per share | $ / shares

$ 0.001

At the Market [Member] | Maximum [Member]

Shares Activity [Line Items]

Aggregate gross offering price | $

$ 400,000

IMTT [Member]

Shares Activity [Line Items]

Equity interest acquired

50.00%

MIC Corporate [Member]

Shares Activity [Line Items]

Equity offering, shares

5,312,500

10,000,000

Proceeds from equity offering | $

$ 471,600

$ 739,200

MIC Corporate [Member] | Over Allotment Option [Member]

Shares Activity [Line Items]

Equity offering, shares

796,875

1,500,000

Macquarie Infrastructure Management (USA) Inc. [Member]

Shares Activity [Line Items]

Special stock, issued

100

Macquarie Infrastructure Management (USA) Inc. [Member] | Special Stock [Member]

Shares Activity [Line Items]

Right to appoint number of directors | item

1

[1]

See Note 9, “Stockholders' Equity” for discussion on presentation of common stock, LLC interests and additional paid in capital.

Shareholders' Equity (Schedule

Shareholders' Equity (Schedule of Accumulated Other Comprehensive Loss) (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance				$ 2,970,168
Reclassification of realized losses of derivatives into earnings	[1]		$ 171		$ 321
Translation adjustment	[2]		289	$ (4,051)	4
Balance		$ 3,303,518		3,303,518
Loss in accumulated other comprehensive income reclassifications for cash flow hedges from unconsolidated business			(13)		(23)
Reclassification of realized losses of derivatives into earnings from unconsolidated business, taxes			4		8
Translation adjustment, taxes			(156)	$ 1,700	(2)
Net loss in accumulated other comprehensive income reclassifications for cash flow hedges			(269)		(508)
Reclassification of realized losses of derivatives into earnings, taxes			107		202
Cash Flow Hedges, net of taxes [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	[3]				(636)
Reclassification of realized losses of derivatives into earnings	[3]				$ 321
Translation adjustment	[3]
Balance	[3]		(315)		$ (315)
Post-Retirement Benefit Plans, net of taxes [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance				$ (18,837)	$ (8,021)
Reclassification of realized losses of derivatives into earnings
Translation adjustment
Balance		$ (18,837)	(8,021)	$ (18,837)	$ (8,021)
Translation Adjustment, net of taxes [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	[4]			(4,859)	$ (46)
Reclassification of realized losses of derivatives into earnings	[4]
Translation adjustment	[4]			(4,051)	$ 4
Balance	[4]	(8,910)	(42)	(8,910)	(42)
Total Accumulated Other Comprehensive Loss, net of taxes [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance				(23,696)	(8,703)
Reclassification of realized losses of derivatives into earnings					321
Translation adjustment				(4,051)	4
Balance		(27,747)	(8,378)	(27,747)	(8,378)
Noncontrolling Interest [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance				2,146	258
Reclassification of realized losses of derivatives into earnings					$ (153)
Translation adjustment				1,626
Balance		3,772	105	3,772	$ 105
Total Stockholders' Accumulated Other Comprehensive Loss, Net of Taxes [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance				(21,550)	(8,445)
Reclassification of realized losses of derivatives into earnings					168
Translation adjustment				(2,425)	4
Balance		$ (23,975)	$ (8,273)	$ (23,975)	$ (8,273)
[1]	Reclassification of realized losses of derivatives is composed of (i) pre-tax derivative losses into interest expense of $269,000 and $508,000, respectively, and the related tax benefit of $107,000 and $202,000, respectively, recorded in the consolidated condensed statements of operations; and (ii) pre-tax derivative losses of $13,000 and $23,000, respectively, as an adjustment to investment in unconsolidated business and an adjustment to deferred taxes of $4,000 and $8,000, respectively, recorded in the consolidated condensed balance sheet for the quarter and six months ended June 30, 2014, respectively.
[2]	Translation adjustment is presented net of taxes of $1.7 million for the six months ended June 30, 2015. For the quarter and six months ended June 30, 2014, translation adjustment is presented net of taxes of $156,000 and $2,000, respectively.
[3]	For the six months ended June 30, 2014, reclassification of realized losses of derivatives is composed of (i) pre-tax derivative losses into interest expense of $508,000 and the related tax benefit of $202,000 recorded in the consolidated condensed statement of operations; and (ii) pre-tax derivative losses of $23,000 as an adjustment to investment in unconsolidated business and an adjustment to deferred taxes of $8,000 recorded in the consolidated condensed balance sheet.
[4]	Translation adjustment is presented net of taxes of $1.7 million and $2,000 for the six months ended June 30, 2015 and 2014, respectively.

Reportable Segments (Narrative)

Reportable Segments (Narrative) (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015USD ($)MW	Jun. 30, 2014USD ($)	Jun. 30, 2015USD ($)MW	Jun. 30, 2014USD ($)	Mar. 31, 2015MW	Dec. 31, 2014MW	Jul. 16, 2014	Jul. 15, 2014
Segment Reporting Information [Line Items]
Number of reportable segments			4
Equity in earnings and amortization charges of investee | $		$ 10,799		$ 25,086
Tax rate used to calculate net income attributable to MIC		35.00%		35.00%
Wind Power Generation Facilities 2014 [Member]
Segment Reporting Information [Line Items]
Electricity generating capacity						203
Bayonne Energy Center [Member]
Segment Reporting Information [Line Items]
Equity interest acquired					100.00%
Electricity generating capacity					512
Percentage of contracted tolling agreement					62.50%
IMTT [Member]
Segment Reporting Information [Line Items]
Equity method ownership percentage		50.00%		50.00%				50.00%
Equity in earnings and amortization charges of investee | $		$ 10,800		$ 25,100
Equity interest acquired							50.00%
Atlantic Aviation [Member]
Segment Reporting Information [Line Items]
Number of Airport Locations	69		69
Contracted Power and Energy Businesses [Member]
Segment Reporting Information [Line Items]
Number of solar projects	5		5
Number of wind power generation facilities	2		2
Electricity generating capacity	260		260
Minimum [Member]
Segment Reporting Information [Line Items]
Life of Purchase Power Agreements			20 years
Maximum [Member]
Segment Reporting Information [Line Items]
Life of Purchase Power Agreements			25 years
United States- IMTT [Member]
Segment Reporting Information [Line Items]
Number of marine terminals	10		10

Reportable Segments (Schedule o

Reportable Segments (Schedule of Selected Consolidated Financial Data) (Details) - Jun. 30, 2014 - IMTT [Member] - USD ($) $ in Thousands		Total	Total
Segment Reporting Information [Line Items]
Revenue		$ 423,461	$ 847,734
Net income attributable to MIC	[1]	$ 18,859	$ 52,172
[1]	The tax rate used to calculate net income attributable to MIC was 35.0%.

Reportable Segments (Schedule51

Reportable Segments (Schedule of Segment Information) (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Segment Reporting Information [Line Items]
Revenue		$ 423,689	$ 280,943	$ 822,187	$ 557,138
Net income		(63,096)	9,700	(152,098)	30,066
Provision for income taxes	[1]	(33,531)	5,485	(88,864)	13,971
Other non-cash expense				(1,957)	319
Capital expenditures paid		24,544	14,440	50,025	36,053
Property, equipment, land and leasehold improvements, net		4,037,977	894,665	4,037,977	894,665	$ 3,362,585
Total assets		7,492,672	$ 2,542,505	7,492,672	$ 2,542,505	$ 6,625,188
IMTT [Member]
Segment Reporting Information [Line Items]
Revenue		142,384		280,445
Net income		21,096		41,370
Interest expense, net		6,263		13,169
Provision for income taxes		14,659		28,748
Other non-cash expense		(1,957)		(3,213)
EBITDA excluding non-cash items		75,648		154,052
Capital expenditures paid		8,350		20,219
Property, equipment, land and leasehold improvements, net		$ 2,229,637		$ 2,229,637
IMTT [Member] | Prior to acquisition [Member]
Segment Reporting Information [Line Items]
Revenue	[2]		$ 142,518		$ 290,596
Net income	[2]		24,003		54,984
Interest expense, net	[2]		8,813		15,946
Provision for income taxes	[2]		15,455		36,557
Depreciation and amortization	[2]		19,646		37,920
Other non-cash expense	[2]		1,518		3,501
EBITDA excluding non-cash items	[2],[3]		69,435		148,908
Capital expenditures paid	[2]		24,272		53,893
Property, equipment, land and leasehold improvements, net	[2]		1,285,148		1,285,148
Total assets	[2]		$ 1,386,959		$ 1,386,959
[1]	Includes $107,000 and $202,000 of benefit for income taxes from accumulated other comprehensive loss reclassifications for the quarter and six months ended June 30, 2014, respectively.
[2]	Amounts represent financial position of IMTT business prior to July 16, 2014, the date of the IMTT Acquisition.
[3]	EBITDA consists of earnings before interest, taxes, depreciation and amortization. Non-cash items that are excluded consist of impairments, derivative gains and losses and all other non-cash income and expense items.

Reportable Segments (Schedule52

Reportable Segments (Schedule of Revenue From External Customers) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Segment Reporting Information [Line Items]
Service revenue	$ 327,809	$ 205,269	$ 653,811	$ 407,708
Product revenue	$ 95,880	74,964	$ 168,376	147,973
Financing and equipment lease income		710		1,457
Total revenue	$ 423,689	280,943	$ 822,187	557,138
IMTT [Member]
Segment Reporting Information [Line Items]
Service revenue	$ 142,384		$ 280,445
Product revenue
Total revenue	$ 142,384		$ 280,445
Atlantic Aviation [Member]
Segment Reporting Information [Line Items]
Service revenue	$ 185,425	$ 193,212	$ 373,366	$ 387,173
Product revenue
Financing and equipment lease income
Total revenue	$ 185,425	$ 193,212	$ 373,366	$ 387,173
Contracted Power and Energy Businesses [Member]
Segment Reporting Information [Line Items]
Service revenue		12,057		20,535
Product revenue	$ 36,121	5,830	$ 47,953	9,488
Financing and equipment lease income		710		1,457
Total revenue	$ 36,121	$ 18,597	$ 47,953	$ 31,480
Hawaii Gas Business [Member]
Segment Reporting Information [Line Items]
Service revenue
Product revenue	$ 59,759	$ 69,134	$ 120,423	$ 138,485
Financing and equipment lease income
Total revenue	$ 59,759	$ 69,134	$ 120,423	$ 138,485

Reportable Segments (Schedule53

Reportable Segments (Schedule of EBITDA for Reportable Segments) (Details) - USD ($) $ in Thousands		3 Months Ended			6 Months Ended
		Jun. 30, 2015	Jun. 30, 2014		Jun. 30, 2015	Jun. 30, 2014
Segment Reporting Information [Line Items]
Net income (loss)		$ (63,096)	$ 9,700		$ (152,098)	$ 30,066
Provision (benefit) for income taxes	[1]	(33,531)	5,485		(88,864)	13,971
Depreciation					109,223	27,993
Amortization of intangibles		17,902	9,456		65,873	18,221
Loss on disposal of assets					548	816
Other non-cash expense (income)					1,957	(319)
IMTT [Member]
Segment Reporting Information [Line Items]
Net income (loss)		21,096			41,370
Interest expense, net		6,263			13,169
Provision (benefit) for income taxes		14,659			28,748
Depreciation		28,907			62,022
Amortization of intangibles		$ 2,766			$ 5,530
Loss on disposal of assets
Other non-cash expense (income)		$ 1,957			$ 3,213
EBITDA excluding non-cash items		75,648			154,052
Atlantic Aviation [Member]
Segment Reporting Information [Line Items]
Net income (loss)		12,208	5,698		10,581	16,253
Interest expense, net		5,605	13,352		18,690	22,917
Provision (benefit) for income taxes		8,335	3,855		(7,304)	8,770
Depreciation		8,013	6,789	[2]	23,012	13,591	[3]
Amortization of intangibles		13,797	8,818		58,513	16,949
Loss on disposal of assets		95	816		548	816
Other non-cash expense (income)		653	88		925	156
EBITDA excluding non-cash items		48,706	39,416		104,965	79,452
Contracted Power and Energy Businesses [Member]
Segment Reporting Information [Line Items]
Net income (loss)		(5,138)	1,154		(8,677)	(261)
Interest expense, net		4,945	2,690		11,283	5,335
Provision (benefit) for income taxes		3,683	616		2,865	1,215
Depreciation		12,772	5,363	[2]	20,038	10,473	[3]
Amortization of intangibles		$ 1,082	$ 326		$ 1,261	$ 648
Loss on disposal of assets
Other non-cash expense (income)		$ (2,099)	$ (2,125)		$ (5,040)	$ (2,890)
EBITDA excluding non-cash items		15,245	8,024		21,730	14,520
Hawaii Gas Business [Member]
Segment Reporting Information [Line Items]
Net income (loss)		6,430	6,294		15,285	12,489
Interest expense, net		1,806	1,891		3,749	3,678
Provision (benefit) for income taxes		4,068	4,092		9,600	8,119
Depreciation		2,109	1,983	[2]	4,151	3,929	[3]
Amortization of intangibles		$ 257	$ 312		$ 569	$ 624
Loss on disposal of assets
Other non-cash expense (income)		$ 1,219	$ 408		$ (611)	$ 1,132
EBITDA excluding non-cash items		15,889	14,980		32,743	29,971
Total reportable segments [Member]
Segment Reporting Information [Line Items]
Net income (loss)		34,596	13,146		58,559	28,481
Interest expense, net		18,619	17,933		46,891	31,930
Provision (benefit) for income taxes		30,745	8,563		33,909	18,104
Depreciation		51,801	14,135	[2]	109,223	27,993	[3]
Amortization of intangibles		17,902	9,456		65,873	18,221
Loss on disposal of assets		95	816		548	816
Other non-cash expense (income)		1,730	(1,629)		(1,513)	(1,602)
EBITDA excluding non-cash items		$ 155,488	$ 62,420		$ 313,490	$ 123,943
[1]	Includes $107,000 and $202,000 of benefit for income taxes from accumulated other comprehensive loss reclassifications for the quarter and six months ended June 30, 2014, respectively.
[2]	Depreciation includes depreciation expense for the district energy business, a component of the CP&E segment prior to the Company's divestiture of the business on August 21, 2014, which was reported in cost of services in the consolidated condensed statements of operations.
[3]	Depreciation includes depreciation expense for the district energy business, a component of the CP&E segment prior to the Company's divestiture of the business on August 21, 2014, which was reported in cost of services in the consolidated condensed statements of operations.

Reportable Segments (Schedule54

Reportable Segments (Schedule of Reconciliation of EBITDA for Reportable Segments) (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Interest income		$ 7	$ 31	$ 13	$ 95
Interest expense	[1]	(22,342)	(17,945)	(53,863)	(31,956)
Depreciation				(109,223)	(27,993)
Amortization of intangibles		(17,902)	(9,456)	(65,873)	(18,221)
Loss on disposal of assets				(548)	(816)
Selling, general and administrative - corporate		(499,094)	(260,175)	(1,013,502)	(508,745)
Fees to manager-related party		$ (154,559)	(14,495)	$ (319,832)	(23,489)
Equity in earnings and amortization charges of investee			10,799		25,086
Total consolidated net (loss) income before income taxes		$ (97,048)	15,229	$ (242,896)	43,875
Total reportable segments [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total reportable segments EBITDA excluding non-cash items	[2]	155,488	62,420	313,490	123,943
Interest income		7	31	13	95
Interest expense		(22,342)	(17,945)	(53,863)	(31,956)
Depreciation	[3]	(51,801)	(14,135)	(109,223)	(27,993)
Amortization of intangibles		(17,902)	(9,456)	(65,873)	(18,221)
Loss on disposal of assets		(95)	(816)	(548)	(816)
Selling, general and administrative - corporate		(3,693)	(2,233)	(6,639)	(3,279)
Fees to manager-related party		$ (154,559)	(14,495)	$ (319,832)	(23,489)
Equity in earnings and amortization charges of investee	[2]		10,799		25,086
Other (expense) income, net		$ (2,151)	1,059	$ (421)	505
Total consolidated net (loss) income before income taxes		$ (97,048)	$ 15,229	$ (242,896)	$ 43,875
[1]	Interest expense includes gains on derivative instruments of $3.1 million and losses on derivative instruments of $9.8 million for the quarter and six months ended June 30, 2015, respectively. For the quarter and six months ended June 30, 2014, interest expense includes losses on derivative instruments of $8.6 million and $13.9 million, respectively, of which net losses of $269,000 and $508,000, respectively, were reclassified from accumulated other comprehensive loss.
[2]	For the quarter and six months ended June 30, 2015, total reportable segments' EBITDA excluding non-cash items includes the results of IMTT's EBITDA excluding non-cash items. Prior to July 16, 2014, the date of the IMTT Acquisition, MIC accounted for its 50% investment in IMTT under the equity method of accounting. As such, MIC's 50% share of IMTT's net income was reported in equity in earnings and amortization charges of investee in the above table for the quarter and six months ended June 30, 2014.
[3]	Depreciation includes depreciation expense for the district energy business, a component of the CP&E segment prior to the Company's divestiture of the business on August 21, 2014, which was reported in cost of services in the consolidated condensed statements of operations.

Reportable Segments (Schedule55

Reportable Segments (Schedule of Capital Expenditures) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Segment Reporting Information [Line Items]
Capital expenditures	$ 24,544	$ 14,440	$ 50,025	$ 36,053
IMTT [Member]
Segment Reporting Information [Line Items]
Capital expenditures	8,350		20,219
Atlantic Aviation [Member]
Segment Reporting Information [Line Items]
Capital expenditures	10,919	$ 7,947	19,142	$ 16,672
Contracted Power and Energy Businesses [Member]
Segment Reporting Information [Line Items]
Capital expenditures	308	2,077	308	11,400
Hawaii Gas Business [Member]
Segment Reporting Information [Line Items]
Capital expenditures	$ 4,967	$ 4,416	$ 10,356	$ 7,981

Reportable Segments (Schedule56

Reportable Segments (Schedule of Assets of Reportable Segments) (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014	Jun. 30, 2014
Segment Reporting Information [Line Items]
Property, Equipment, Land and Leasehold Improvements	$ 4,037,977	$ 3,362,585	$ 894,665
Goodwill	2,019,204	$ 1,996,259	596,627
Total Assets	7,432,928		$ 2,461,816
IMTT [Member]
Segment Reporting Information [Line Items]
Property, Equipment, Land and Leasehold Improvements	2,229,637
Goodwill	1,411,629
Total Assets	4,135,842
Atlantic Aviation [Member]
Segment Reporting Information [Line Items]
Property, Equipment, Land and Leasehold Improvements	332,320		$ 314,628
Goodwill	460,920		458,488
Total Assets	1,484,589		1,575,588
Contracted Power and Energy Businesses [Member]
Segment Reporting Information [Line Items]
Property, Equipment, Land and Leasehold Improvements	1,272,499		390,101
Goodwill	26,462		17,946
Total Assets	1,428,412		482,547
Hawaii Gas Business [Member]
Segment Reporting Information [Line Items]
Property, Equipment, Land and Leasehold Improvements	203,521		189,936
Goodwill	120,193		120,193
Total Assets	$ 384,085		$ 403,681

Reportable Segments (Schedule57

Reportable Segments (Schedule of Reconciliation of Assets of Reportable Segments) (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014	Jun. 30, 2014
Segment Reporting Information [Line Items]
Total assets of reportable segments	$ 7,432,928		$ 2,461,816
Investment in unconsolidated business	9,166	$ 9,773
Corporate and other	59,744		9,255
Total assets	$ 7,492,672	$ 6,625,188	2,542,505
Non Reportable Segment [Member]
Segment Reporting Information [Line Items]
Investment in unconsolidated business			$ 71,434

Related Party Transactions (Nar

Related Party Transactions (Narrative) (Details)	May. 27, 2015USD ($)shares	Jul. 31, 2015USD ($)$ / shares	Mar. 31, 2015USD ($)shares	Aug. 31, 2014USD ($)	Jul. 31, 2014USD ($)shares	Jan. 22, 2014USD ($)	Jun. 30, 2015USD ($)bbl$ / sharesshares	Mar. 31, 2015USD ($)	Dec. 31, 2014USD ($)shares	Sep. 30, 2014USD ($)	Jun. 30, 2014USD ($)	Mar. 31, 2014USD ($)	Jun. 30, 2015USD ($)bbl$ / sharesshares	Jun. 30, 2014USD ($)	Jun. 24, 2015USD ($)$ / shares	May. 21, 2015itemshares	Apr. 30, 2015USD ($)	Jul. 15, 2014USD ($)	Dec. 31, 2013USD ($)
Related Party Transaction [Line Items]
Equity offering, shares | shares			6,109,375		11,500,000
Number of employees							2						2
Accounts receivable							$ 115,019,000		$ 96,885,000				$ 115,019,000
Accounts payable							$ 53,507,000		49,733,000				53,507,000
Interest paid													$ 54,038,000	$ 24,173,000
Special stock, issued | shares							100						100
Accrued interest							$ 72,810,000		$ 77,248,000				$ 72,810,000
Common stock, par value per share | $ / shares		$ 0.001					$ 0.001						$ 0.001
Bayonne Energy Center [Member]
Related Party Transaction [Line Items]
Fixed portion of interest rate component													4.00%
At the Market [Member]
Related Party Transaction [Line Items]
Common stock, par value per share | $ / shares															$ 0.001
At the Market [Member] | Maximum [Member]
Related Party Transaction [Line Items]
Aggregate gross offering price															$ 400,000,000
Interest Rate Swaps [Member] | Bayonne Energy Center [Member]
Related Party Transaction [Line Items]
Notional amount of derivative			$ 255,100,000				$ 249,900,000	$ 255,100,000					$ 249,900,000
Fixed interest rate							3.455%						3.455%
Derivatives, expiration date													Aug. 21, 2021
Revolving Credit Facility [Member] | Bayonne Energy Center [Member]
Related Party Transaction [Line Items]
Borrowing capacity			30,000,000					30,000,000
Revolving Credit Facility [Member] | MIHI LLC [Member] | Bayonne Energy Center [Member]
Related Party Transaction [Line Items]
Borrowing capacity			7,500,000					7,500,000
Commitment fee							$ 5,000
Term Loan Facility [Member] | Bayonne Energy Center [Member]
Related Party Transaction [Line Items]
Repayments of debt		$ 251,500,000					257,600,000
Macquarie Infrastructure Management (USA) Inc. [Member]
Related Party Transaction [Line Items]
Special stock, issued | shares																100
Macquarie Infrastructure Management (USA) Inc. [Member] | Special Stock [Member]
Related Party Transaction [Line Items]
Right to appoint number of directors | item																1
Macquarie Bank Limited [Member] | Interest Rate Swaps [Member] | Bayonne Energy Center [Member]
Related Party Transaction [Line Items]
Notional amount of derivative							63,800,000						$ 63,800,000
Interest paid							$ 396,000
Fixed interest rate							3.455%						3.455%
Derivatives, expiration date													Aug. 21, 2021
Atlantic Aviation [Member] | Revolving Credit Facility [Member]
Related Party Transaction [Line Items]
Borrowing capacity							$ 70,000,000						$ 70,000,000
Atlantic Aviation [Member] | Revolving Credit Facility [Member] | Macquarie Bank Limited [Member]
Related Party Transaction [Line Items]
Borrowing capacity							15,700,000						15,700,000
Commitment fee							$ 28,000						$ 56,000
Atlantic Aviation [Member] | Term Loan Facility [Member]
Related Party Transaction [Line Items]
Borrowing capacity						$ 100,000,000
Atlantic Aviation [Member] | Equity Bridge Loan [Member]
Related Party Transaction [Line Items]
Borrowing capacity																			$ 70,000,000
Atlantic Aviation [Member] | MIHI LLC [Member] | Equity Bridge Loan [Member]
Related Party Transaction [Line Items]
Borrowing capacity																			$ 35,000,000
Atlantic Aviation [Member] | Macquarie Capital Markets Canada Ltd [Member]
Related Party Transaction [Line Items]
Revenue from related party								18,000
Atlantic Aviation [Member] | MCUSA [Member] | Term Loan Facility [Member]
Related Party Transaction [Line Items]
Advisory fees						$ 16,000
Atlantic Aviation [Member] | MCUSA [Member] | Equity Bridge Loan [Member]
Related Party Transaction [Line Items]
Commitment fee												$ 88,000
Atlantic Aviation [Member] | MEF [Member]
Related Party Transaction [Line Items]
Lease expense on copiers								2,000			$ 6,000			12,000
Atlantic Aviation [Member] | Macquarie Bank Limited [Member] | Revolving Credit Facility [Member]
Related Party Transaction [Line Items]
Commitment fee											26,000			52,000
Macquarie Infrastructure Management (USA) Inc. [Member]
Related Party Transaction [Line Items]
Shares of the Company held by Manager, a related party | shares							5,054,755		4,667,105				5,054,755
Base management fees to be settled/settled in shares							$ 18,918,000	16,545,000	$ 14,192,000	$ 13,915,000	9,535,000	$ 8,994,000	$ 35,500,000	18,500,000
Performance fees to be settled/settled in shares and cash							135,641,000	$ 148,728,000		$ 116,586,000	4,960,000		284,400,000	5,000,000
Reimbursement of out-of-pocket expenses							169,000				$ 136,000		257,000	$ 208,000
Number of shares sold | shares	1,900,000
Proceeds from sale of shares	$ 160,400,000
District Energy [Member] | MCUSA [Member]
Related Party Transaction [Line Items]
Advisory fees				$ 1,600,000
MIC Corporate [Member] | Convertible Senior Notes [Member]
Related Party Transaction [Line Items]
Convertible Debt							350,000,000						350,000,000					$ 350,000,000
MIC Corporate [Member] | Revolving Credit Facility [Member]
Related Party Transaction [Line Items]
Debt instrument, term					5 years
Borrowing capacity					$ 250,000,000		360,000,000						360,000,000				$ 250,000,000
Proceeds from debt							155,000,000
Repayments of debt							155,000,000
MIC Corporate [Member] | MIHI LLC [Member] | Revolving Credit Facility [Member]
Related Party Transaction [Line Items]
Borrowing capacity					50,000,000		50,000,000						50,000,000
Commitment fee							24,000						58,000
Debt issuance costs					250,000
Interest paid							80,000
Accrued interest							$ 24,000		$ 36,000				$ 24,000
MIC Corporate [Member] | MCUSA [Member] | Convertible Senior Notes [Member]
Related Party Transaction [Line Items]
Advisory fees					1,100,000
MIC Corporate [Member] | MCUSA [Member] | Equity Offering [Member]
Related Party Transaction [Line Items]
Advisory fees			$ 2,300,000		$ 3,000,000
IMTT [Member] | MENAT [Member]
Related Party Transaction [Line Items]
Capacity leased to related party | bbl							154,000						154,000
Revenue from related party							$ 212,000						$ 212,000
Accounts receivable, related party							$ 10,000						$ 10,000

Related Party Transactions (Sch

Related Party Transactions (Schedule of Dividends Paid to Manager) (Details) - Jun. 30, 2015 - Management [Member] - USD ($) $ / shares in Units, $ in Thousands		Total
Dividend One [Member]
Dividends Payable [Line Items]
Declared		Feb. 18, 2014
Period Covered		Fourth quarter 2013
$ per Share		$ 0.9125
Record Date		Mar. 3, 2014
Payable Date		Mar. 6, 2014
Cash Paid to Manager		$ 2,945
Dividend Two [Member]
Dividends Payable [Line Items]
Declared		Apr. 28, 2014
Period Covered		First quarter 2014
$ per Share		$ 0.9375
Record Date		May 12, 2014
Payable Date		May 15, 2014
Cash Paid to Manager		$ 3,180
Dividend Three [Member]
Dividends Payable [Line Items]
Declared		Jul. 3, 2014
Period Covered		Second quarter 2014
$ per Share		$ 0.95
Record Date		Aug. 11, 2014
Payable Date		Aug. 14, 2014
Cash Paid to Manager		$ 3,402
Dividend Four [Member]
Dividends Payable [Line Items]
Declared		Oct. 27, 2014
Period Covered		Third quarter 2014
$ per Share		$ 0.98
Record Date		Nov. 10, 2014
Payable Date		Nov. 13, 2014
Cash Paid to Manager		$ 4,438
Dividend Five [Member]
Dividends Payable [Line Items]
Declared		Feb. 17, 2015
Period Covered		Fourth quarter 2014
$ per Share		$ 1.02
Record Date		Mar. 2, 2015
Payable Date		Mar. 5, 2015
Cash Paid to Manager		$ 4,905
Dividend Six [Member]
Dividends Payable [Line Items]
Declared		Apr. 30, 2015
Period Covered		First quarter 2015
$ per Share		$ 1.07
Record Date		May 14, 2015
Payable Date		May 19, 2015
Cash Paid to Manager		$ 7,281
Dividend Seven [Member]
Dividends Payable [Line Items]
Declared		Jul. 30, 2015
Period Covered		Second quarter 2015
$ per Share		$ 1.11
Record Date		Aug. 13, 2015
Payable Date		Aug. 18, 2015
Cash Paid to Manager	[1]
[1]	The amount of dividend payable to the Manager for the second quarter of 2015 will be determined on August 13, 2015, the record date.

Related Party Transactions (S60

Related Party Transactions (Schedule of Base Management Fees and Performance Fees) (Details) - Macquarie Infrastructure Management (USA) Inc. [Member] - USD ($) $ in Thousands	1 Months Ended		3 Months Ended								6 Months Ended
	Jul. 31, 2015	Oct. 31, 2014	Jun. 30, 2015		Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014		Jun. 30, 2014	Mar. 31, 2014	Jun. 30, 2015	Jun. 30, 2014
Common Stock Equity [Line Items]
Base management fees to be settled/settled in shares			$ 18,918		$ 16,545	$ 14,192	$ 13,915		$ 9,535	$ 8,994	$ 35,500	$ 18,500
Performance fees to be settled/settled in shares and cash			$ 135,641		$ 148,728		$ 116,586		$ 4,960		$ 284,400	$ 5,000
Shares Issued			223,827	[1]	2,068,038	208,122	947,583	[2]	243,329	164,546
Shares issued subsequent, for fees to manager	73,986
Performance fee settled in cash	$ 67,800	$ 65,000
Performance fee reinvested		$ 51,600
[1]	In July 2015, the Board requested, and the Manager agreed, that $67.8 million of the performance fee for the second quarter ended June 30, 2015 would be and was settled in cash in July 2015 to minimize dilution. The remainder of the fee will be reinvested in shares of MIC common stock in July 2016 using the June 2016 monthly volume weighted average price. The Company issued 223,827 shares, of which 73,986 shares were issued in July 2015 for the June 2015 base management fee.
[2]	In October 2014, the Board requested, and the Manager agreed, that $65.0 million of the performance fee for the third quarter ended September 30, 2014 be settled in cash using the proceeds from the sale of the district energy business to minimize dilution. The remainder of the fee of $51.6 million was reinvested in additional shares of MIC.

Income Taxes (Details)

Income Taxes (Details) - Jun. 30, 2015 - USD ($) $ in Thousands	Total	Total
Income Taxes [Line Items]
Change in valuation allowance	$ 800	$ 1,400
Minimum [Member]
Income Taxes [Line Items]
Net operating loss carry-forwards, expiration date		Dec. 31, 2021
Maximum [Member]
Income Taxes [Line Items]
Net operating loss carry-forwards, expiration date		Dec. 31, 2034

Subsequent Events (Details)

Subsequent Events (Details) - Jul. 30, 2015 - Subsequent Event [Member] - Credit Facility [Domain] - Long-term Debt, Type [Domain] - $ / shares	Total
Subsequent Event [Line Items]
Cash dividend declared, date declared	Jul. 30, 2015
Cash dividend declared per share	$ 1.11
Cash dividend declared, date to be paid	Aug. 18, 2015
Cash dividend declared, date of record	Aug. 13, 2015