Macquarie Infrastructure 10-Q 2 May 16 2016 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - $ / shares	3 Months Ended
	Mar. 31, 2016	Apr. 29, 2016	Dec. 31, 2015	May. 21, 2015
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1
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
Trading Symbol	MIC
Entity Common Stock, Shares Outstanding		80,336,745
Common stock, par value per share	$ 0.001	$ 0.001	$ 0.001	$ 0.001

CONSOLIDATED CONDENSED BALANCE

CONSOLIDATED CONDENSED BALANCE SHEETS - USD ($) $ in Thousands		Mar. 31, 2016	Dec. 31, 2015	[1]
Current assets:
Cash and cash equivalents		$ 22,502	$ 22,394
Restricted cash		11,732	18,946
Accounts receivable, less allowance for doubtful accounts of $1,612 and $1,690, respectively		92,101	95,597
Inventories		27,570	29,489
Prepaid expenses		17,188	21,690
Other current assets		27,129	28,453
Total current assets		198,222	216,569
Property, equipment, land and leasehold improvements, net		4,128,510	4,116,163
Investment in unconsolidated business		8,908	8,274
Goodwill		2,017,891	2,017,211
Intangible assets, net		920,934	934,892
Other noncurrent assets		8,951	15,695
Total assets		7,283,416	7,308,804
Current liabilities:
Due to Manager - related party		72,932	73,317
Accounts payable		45,192	56,688
Accrued expenses		79,359	78,527
Current portion of long-term debt		43,197	40,099
Fair value of derivative instruments		19,845	19,628
Other current liabilities		37,995	40,531
Total current liabilities		298,520	308,790
Long-term debt, net of current portion		2,761,376	2,746,525
Deferred income taxes		835,486	816,836
Fair value of derivative instruments		37,012	15,698
Tolling agreements - noncurrent		66,206	68,150
Other noncurrent liabilities		147,754	150,363
Total liabilities		$ 4,146,354	$ 4,106,362
Commitments and contingencies
Stockholders’ equity:
Common stock ($0.001 par value; 500,000,000 authorized; 80,257,596 shares issued and outstanding at March 31, 2016 and 80,006,744 shares issued and outstanding at December 31, 2015)	[2]	$ 80	$ 80
Additional paid in capital		2,247,192	2,317,421
Accumulated other comprehensive loss		(25,755)	(23,295)
Retained earnings		758,339	735,984
Total stockholders’ equity		2,979,856	3,030,190
Noncontrolling interests		157,206	172,252
Total equity		3,137,062	3,202,442
Total liabilities and equity		$ 7,283,416	$ 7,308,804
[1]	Conformed to current period presentation. See Note 2, "Basis of Presentation", for Recently Issued Accounting Standards adopted in the quarter ended March 31, 2016.
[2]	See Note 8, "Stockholders' Equity", for discussions on preferred stock and special stock.

CONSOLIDATED CONDENSED BALANCE3

CONSOLIDATED CONDENSED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Accounts receivable, allowance for doubtful accounts	$ 1,612	$ 1,690
Common stock, par value per share	$ 0.001	$ 0.001
Shares, authorized	500,000,000	500,000,000
Shares, issued	80,257,596	80,006,744
Shares, outstanding	80,257,596	80,006,744

CONSOLIDATED CONDENSED STATEMEN

CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2016	Mar. 31, 2015
Revenue
Service revenue		$ 312,241	$ 326,002
Product revenue		84,146	72,496
Total revenue		396,387	398,498
Costs and expenses
Cost of services		116,463	133,417
Cost of product sales		33,060	39,127
Selling, general and administrative		72,284	70,653
Fees to Manager-related party		14,796	165,273
Depreciation		53,221	57,422
Amortization of intangibles		17,787	47,971
(Gain) loss on disposal of assets		(414)	545
Total operating expenses		307,197	514,408
Operating income (loss)		89,190	(115,910)
Other income (expense)
Interest income		33	6
Interest expense	[1]	(56,895)	(31,521)
Other income, net		3,015	1,577
Net income (loss) before income taxes		35,343	(145,848)
(Provision) benefit for income taxes		(15,167)	55,333
Net income (loss)		20,176	(90,515)
Less: net loss attributable to noncontrolling interests		(2,179)	(1,513)
Net income (loss) attributable to MIC		$ 22,355	$ (89,002)
Basic income (loss) per share attributable to MIC		$ 0.28	$ (1.22)
Weighted average number of shares outstanding: basic		80,113,011	73,150,111
Diluted income (loss) per share attributable to MIC		$ 0.28	$ (1.22)
Weighted average number of shares outstanding: diluted		81,171,346	73,150,111
Cash dividends declared per share		$ 1.20	$ 1.07
[1]	Interest expense includes losses on derivative instruments of $32.2 million and $12.9 million for the quarters ended March 31, 2016 and 2015, respectively.

CONSOLIDATED CONDENSED STATEME5

CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Losses on derivative instruments	$ (29,918)	$ (12,937)
Interest Expense [Member]
Losses on derivative instruments	$ (32,200)	$ (12,900)

CONSOLIDATED CONDENSED STATEME6

CONSOLIDATED CONDENSED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2016	Mar. 31, 2015
Net income (loss)		$ 20,176	$ (90,515)
Other comprehensive income (loss), net of taxes:
Translation adjustment	[1],[2]	3,563	(4,051)
Other comprehensive income (loss):		3,563	(4,051)
Comprehensive income (loss)		23,739	(94,566)
Less: comprehensive loss attributable to noncontrolling interests	[1]	(745)	(3,139)
Comprehensive income (loss) attributable to MIC		$ 24,484	$ (91,427)
[1]	On March 31, 2016, IMTT acquired the remaining 33.3% interest in its Quebec terminal that it did not previously own. As part of this transaction, the translation adjustment of $4.6 million, net of taxes, was reclassified from noncontrolling interests to stockholders’ accumulated other comprehensive loss. See Note 8, “Stockholders’ Equity”, for disclosures on accumulated other comprehensive loss.
[2]	Translation adjustment is presented net of tax expense of $1.5 million and tax benefit of $1.7 million for the quarters ended March 31, 2016 and 2015, respectively.

CONSOLIDATED CONDENSED STATEME7

CONSOLIDATED CONDENSED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Parenthetical) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2016	Mar. 31, 2015
Translation adjustment, taxes		$ (1,500)	$ 1,700
Accumulated Other Comprehensive Loss Attributable to Noncontrolling Interest [Member]
Purchase of noncontrolling interest in Subsidiary	[1]	$ (4,589)
IMTT [Member] | Quebec Marine Terminal [Member]
Equity interest acquired		33.30%
IMTT [Member] | Quebec Marine Terminal [Member] | Accumulated Other Comprehensive Loss Attributable to Noncontrolling Interest [Member]
Purchase of noncontrolling interest in Subsidiary		$ (4,600)
[1]	On March 31, 2016, IMTT acquired the remaining 33.3% interest in its Quebec terminal that it did not previously own. As part of this transaction, the translation adjustment of $4.6 million, net of taxes, was reclassified from noncontrolling interests to stockholders’ accumulated other comprehensive loss.

CONSOLIDATED CONDENSED STATEME8

CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016		Mar. 31, 2015
Operating activities
Net income (loss)	$ 20,176		$ (90,515)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization of property and equipment	53,221		57,422
Amortization of intangible assets	17,787		47,971
Amortization of debt financing costs	2,879		1,615
Adjustments to derivative instruments	23,278		2,833
Fees to Manager-related party	14,796		165,273
Deferred taxes	12,661		(56,138)
Other non-cash expense, net	1,293		1,431
Changes in other assets and liabilities, net of acquisitions:
Restricted cash	2,202		669
Accounts receivable	3,910		222
Inventories	1,879		2,087
Prepaid expenses and other current assets	9,352		5,901
Due to Manager-related party	(73)		(88)
Accounts payable and accrued expenses	(13,293)		(18,153)
Income taxes payable	2,753		(853)
Other, net	(4,255)		(2,661)
Net cash provided by operating activities	148,566		117,016
Investing activities
Acquisitions of businesses and investments, net of cash acquired	(3,153)		(18,137)
Purchases of property and equipment	(62,593)		(25,481)
Other, net	48		544
Net cash used in investing activities	(65,698)		(43,074)
Financing activities
Proceeds from long-term debt	176,000		29,000
Payment of long-term debt	(159,730)		(452,628)
Proceeds from the issuance of shares	1,093		488,032
Dividends paid to common stockholders	(92,203)		(78,075)
Purchase of noncontrolling interest	(9,909)		0
Distributions paid to noncontrolling interests	(1,824)		(1,000)
Offering and equity raise costs paid	(105)		(15,964)
Debt financing costs paid	(1,119)		0
Change in restricted cash	5,013		11,047
Payment of capital lease obligations	(433)		(758)
Net cash used in financing activities	(83,217)		(20,346)
Effect of exchange rate changes on cash and cash equivalents	457		(298)
Net change in cash and cash equivalents	108		53,298
Cash and cash equivalents, beginning of period	22,394	[1]	48,014
Cash and cash equivalents, end of period	22,502		101,312
Non-cash investing and financing activities:
Accrued equity offering costs	229		349
Accrued financing costs	68		126
Accrued purchases of property and equipment	19,318		5,239
Acquisition of equipment through capital leases	0		398
Issuance of shares to Manager	15,108		15,221
Conversion of convertible senior notes to shares	4		2
Distributions payable to noncontrolling interests	42		75
Taxes (refund) paid, net	(253)		1,657
Interest paid	$ 25,176		$ 26,968
[1]	Conformed to current period presentation. See Note 2, "Basis of Presentation", for Recently Issued Accounting Standards adopted in the quarter ended March 31, 2016.

Organization and Description of

Organization and Description of Business	3 Months Ended
	Mar. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Description of Business	1. Organization and Description of Business Macquarie Infrastructure Corporation is the successor to Macquarie Infrastructure Company LLC (MIC LLC) pursuant to the conversion (the Conversion) of MIC LLC from a Delaware limited liability company to a Delaware 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 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, and MIC LLC prior to the Conversion, 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 operates and invests in a diversified group of businesses that provide services to other businesses, government agencies and individuals primarily in the U.S. The businesses it owns and operates include: • International-Matex Tank Terminals (IMTT) • Atlantic Aviation • Contracted Power and Energy (CP&E) Segment • Hawaii Gas

Basis of Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2016
Accounting Policies [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 Securities and Exchange Commission (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, 2015 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, 2015 included in the Company’s Annual Report on Form 10-K, as filed with the SEC on February 23, 2016. Operating results for the quarter ended March 31, 2016 are not necessarily indicative of the results that may be expected for the year ending December 31, 2016 or for any future interim periods. 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. On February 25, 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2016-02, Leases (Topic 842) On November 20, 2015, the FASB issued ASU No. 2015-17, Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes On September 25, 2015, the FASB issued ASU No. 2015-16, Business Combinations (Topic 805): Simplifying the Accounting for Measurement Period Adjustments On August 12, 2015, the FASB issued ASU No. 2015-14, Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date, Revenue from Contracts with Customers, On July 22, 2015, the FASB issued ASU No. 2015-11, Inventory (Topic 330): Simplifying the Measurement of Inventory, 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 On February 18, 2015, the FASB issued ASU No. 2015-02, Consolidation (Topic 810): Amendments to the Consolidation Analysis

Income (Loss) per Share

Income (Loss) per Share	3 Months Ended
	Mar. 31, 2016
Earnings Per Share [Abstract]
[Income (Loss)] per Share	3. Income (Loss) per Share Quarter Ended March 31, 2016 2015 Numerator: Net income (loss) attributable to MIC $ 22,355 $ (89,002 ) Diluted net income (loss) attributable to MIC $ 22,355 $ (89,002 ) Denominator: Weighted average number of shares outstanding: basic 80,113,011 73,150,111 Dilutive effect of restricted stock unit grants 8,660 — Dilutive effect of fees to Manager-related party 1,049,675 — Weighted average number of shares outstanding: diluted 81,171,346 73,150,111 Income (loss) per share: Basic income (loss) per share attributable to MIC $ 0.28 $ (1.22 ) Diluted income (loss) per share attributable to MIC $ 0.28 $ (1.22 ) The effect of potentially dilutive shares for the quarter ended March 31, 2016 is calculated assuming that (i) the restricted stock unit grants totaling 8,660 provided to the independent directors on June 18, 2015, which will vest during the second quarter of 2016, had been fully converted to shares on the grant date and (ii) the $67.8 million of the performance fee for the quarter ended June 30, 2015, settlement of which was deferred to July 2016, had been reinvested in shares by the Manager in July 2015. The convertible senior notes that were issued on July 15, 2014 were anti-dilutive for the quarter ended March 31, 2016. Restricted stock unit grants totaling 12,525 provided to the independent directors on May 21, 2014, which vested during the second quarter of 2015, and 4,127,970 shares related to the convertible senior notes that were issued on July 15, 2014 were anti-dilutive due to the Company’s net loss for the quarter ended March 31, 2015. Quarter Ended March 31, 2016 2015 Restricted stock unit grants — 12,525 Convertible senior notes 4,139,250 4,127,970 Total 4,139,250 4,140,495

Property, Equipment, Land and L

Property, Equipment, Land and Leasehold Improvements	3 Months Ended
	Mar. 31, 2016
Property, Plant and Equipment [Abstract]
Property, Equipment, Land and Leasehold Improvements	4. Property, Equipment, Land and Leasehold Improvements March 31, 2016 December 31, 2015 Land $ 299,469 $ 291,521 Easements 131 131 Buildings 41,189 41,049 Leasehold and land improvements 593,357 590,646 Machinery and equipment 3,491,415 3,455,776 Furniture and fixtures 29,916 29,547 Construction in progress 220,355 203,146 4,675,832 4,611,816 Less: accumulated depreciation (547,322 ) (495,653 ) Property, equipment, land and leasehold improvements, net $ 4,128,510 $ 4,116,163 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. 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 a non-cash impairment of $2.8 million, which was included in depreciation expense. In addition, during the quarter ended March 31, 2015, a non-cash impairment charge of $4.2 million was recorded due to a change in the current lease contract at one of the bases. This amount was included in depreciation expense.

Intangible Assets

Intangible Assets	3 Months Ended
	Mar. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets	5. Intangible Assets March 31, December 31, Contractual arrangements $ 905,028 $ 901,807 Non-compete agreements 9,665 9,665 Customer relationships 341,070 340,425 Leasehold rights 350 350 Trade names 16,091 16,091 Technology 8,760 8,760 1,280,964 1,277,098 Less: accumulated amortization (360,030 ) (342,206 ) Intangible assets, net $ 920,934 $ 934,892 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. 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 a non-cash impairment of $13.5 million, which was included in amortization expense. In addition, during the quarter ended March 31, 2015, a non-cash impairment charge of $17.8 million was recorded due to a change in the current lease contract at one of the bases. This amount was included in amortization expense. Goodwill acquired in business combinations, net of disposals, at December 31, 2015 $ 2,143,057 Less: accumulated impairment charges (123,200 ) Less: other (2,646 ) Balance at December 31, 2015 2,017,211 Add: goodwill related to 2016 acquisitions 79 Add: other 601 Balance at March 31, 2016 $ 2,017,891 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	3 Months Ended
	Mar. 31, 2016
Debt Disclosure [Abstract]
Long-Term Debt	At March 31, 2016 and December 31, 2015, the Company’s consolidated long-term debt comprised the following ($ in thousands): March 31, December 31, IMTT $ 1,146,571 $ 1,127,223 Atlantic Aviation 602,925 604,609 CP&E 550,092 555,486 Hawaii Gas 180,000 180,000 MIC Corporate 369,971 365,975 Total debt 2,849,559 2,833,293 Less: current portion (43,197 ) (40,099 ) Long-term portion 2,806,362 2,793,194 Less: unamortized deferred financing costs (1) (44,986 ) (46,669 ) Long-term portion less unamortized deferred financing costs $ 2,761,376 $ 2,746,525 (1) The weighted average remaining life of the deferred financing costs at March 31, 2016 was 6.0 years. The total undrawn capacity on the revolving credit facilities at IMTT, Atlantic Aviation, CP&E, Hawaii Gas and MIC Corporate was $1.1 billion at March 31, 2016. MIC Corporate In January 2016 and February 2016, the Company repaid $7.0 million and $9.0 million, respectively, on the outstanding balance of its senior secured revolving credit facility. On March 30, 2016, the Company drew down $20.0 million for general corporate purposes, of which $10.0 million was subsequently repaid in April 2016. At March 31, 2016, the undrawn portion on the MIC senior secured revolving credit facility was $390.0 million. IMTT On March 4, 2016, IMTT drew down $76.0 million on its USD revolving credit facility for general corporate purposes and to fund capital expenditures, of which $56.0 million was subsequently repaid in March 2016. At March 31, 2016, the undrawn portion on the IMTT USD revolving credit facility and CAD revolving credit facility was $530.0 million and $50.0 million, respectively. Hawaii Gas On February 10, 2016, Hawaii Gas completed the refinancing of its existing $80.0 million term loan and $60.0 million revolving credit facility. The new, five-year facilities include a reduction in interest rates on the term loan and revolving credit facility of 0.50% and 0.25%, respectively, compared with the prior facilities. The $80.0 million term loan bears interest at a variable rate of LIBOR plus an applicable margin between 1.0% to 1.75% and initially set at 1.75%. The variable rate component of the debt is fixed at 0.64% at March 31, 2016 using an existing interest rate swap contract through August 2016 and will be fixed at 0.99% using a new interest rate swap contract for four years thereafter. The revolving credit facility bears interest at a variable rate of LIBOR plus an applicable margin between 1.0% to 1.75% and initially set at 1.25% and will remain unhedged. The key terms of the term loan and the revolving credit facility at March 31, 2016 are summarized in the table below. Facility Terms Holding Company Debt Operating Company Debt Borrowers HGC Holdings LLC (HGC) The Gas Company, LLC (TGC) Facilities $80.0 million term loan (fully drawn at March 31, 2016) $60.0 million revolver credit facility (undrawn at March 31, 2016) Maturity February 2021, subject to two 1-year extensions at borrower’s option February 2021, subject to two 1-year extensions at borrower’s option Amortization Payable at maturity Revolving, payable at maturity Interest Rate LIBOR plus 1.75% or Base Rate: 0.75% above the greater of the prime rate or the federal funds rate plus 0.5% LIBOR plus 1.25% or Base Rate: 0.25% above the greater of the prime rate or the federal funds rate plus 0.5% Commitment Fees — 0.225% on the undrawn portion Collateral First lien on all assets of HGC and its subsidiaries First lien on all assets of TGC and its subsidiaries

Derivative Instruments and Hedg

Derivative Instruments and Hedging Activities	3 Months Ended
	Mar. 31, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments and Hedging Activities	7. 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 a portion 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 March 31, 2016, the Company had $2.8 billion of current and long-term debt, of which $1.6 billion was economically hedged with interest rate contracts, $1.2 billion was fixed rate debt and $40.0 million was unhedged. The Company does not use hedge accounting. All movements in the fair value of the interest rate swaps are recorded directly through earnings. In February 2016, in conjunction with the refinancing, as discussed in Note 6, “Long-Term Debt”, Hawaii Gas entered into a new interest rate swap contract for an $80.0 million notional that will take effect on August 8, 2016, upon the maturity of the existing interest rate swap, and expire on February 8, 2020. This new interest rate swap will fix the interest rate on the $80.0 million term loan at 2.74%. At March 31, 2016, the interest rate on the $80.0 million term loan was fixed at 2.39%. 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 derivative commodity 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. Assets (Liabilities) at (1) Balance Sheet Location March 31, 2016 December 31, 2015 Fair value of derivative instruments – other noncurrent assets (2) $ 62 $ 1,810 Total derivative contracts – assets (2) $ 62 $ 1,810 Fair value of derivative instruments – current liabilities (2) (3) $ (19,845 ) $ (19,628 ) Fair value of derivative instruments – noncurrent liabilities (2) (3) (37,012 ) (15,698 ) Total derivative contracts – liabilities (2) (3) $ (56,857 ) $ (35,326 ) (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. Amount of (Loss) Gain Financial Statement Account 2016 2015 Interest expense – interest rate swaps $ (32,224 ) $ (12,919 ) Cost of product sales – commodity swaps 2,306 (18 ) Total $ (29,918 ) $ (12,937 ) All of the Company’s derivative instruments are collateralized by the assets of the respective businesses.

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Mar. 31, 2016
Equity [Abstract]
Stockholders’ Equity	8. Stockholders’ Equity Classes of Stock The Company is authorized to issue (i) 500,000,000 shares of common stock, par value $0.001 per share, (ii) 100 shares of special stock, par value $0.001 per share and (iii) 100,000,000 shares of preferred stock, par value $0.001 per share. At March 31, 2016, the Company had 80,257,596 shares of common stock issued and outstanding and 100 shares of special stock issued and outstanding. There was no preferred stock issued or outstanding at March 31, 2016. Each outstanding share of common stock of the Company is entitled to one vote on any matter with respect to which holders of shares are entitled to vote. Upon consummation of the Conversion on May 21, 2015, each issued and outstanding LLC interest of MIC LLC was converted into one share of common stock of the Company. The Company also issued to its Manager 100 shares of special stock. The sole purpose for the issuance of special stock to the Manager was to preserve the Manager’s previously-existing right to appoint one director to serve as the chairman of the board of directors, which right would otherwise have been lost upon the Conversion. The special stock is not listed on any stock exchange and is non-transferable. Holders of special stock are not entitled to any dividends or to share in any distribution of assets upon the liquidation or dissolution of the Company. At May 21, 2015, upon consummation of the Conversion, the Company made a non-cash reclassification of $79,000 from LLC interests to common stock, par value $0.001 per share, with the remaining balance of LLC interests reclassified to additional paid in capital for the presentation of the consolidated condensed balance sheet. Shelf Registration Statement Renewal On April 5, 2016, the Company filed an automatic shelf registration statement on Form S-3 (shelf) with the SEC to issue and sell an indeterminate amount of its common stock, preferred stock and debt securities in one or more future offerings. 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 million. Sales of shares may be made in privately negotiated transactions and/or any other method permitted by law, including sales deemed to be an “at the market” offering, which includes sales made directly on the New York Stock Exchange or sales made to or through a market maker other than on an exchange. 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. Through March 31, 2016, the Company sold 37,000 shares of common stock pursuant to the agreement for net proceeds of $3.0 million (after commissions and fees). MIC Direct The Company maintains a dividend reinvestment/direct stock purchase program, named “MIC Direct”, that allows for the issuance of up to 1.0 million additional shares to participants in this program. At March 31, 2016, 958,436 shares remained unissued under MIC Direct. The Company may also choose to fill requests for reinvestment of dividends or share purchases through MIC Direct via open market purchases. Equity Offering On March 2, 2015, the Company completed an underwritten public offering of 5,312,500 shares. On March 12, 2015, an additional 796,875 shares were sold pursuant to the exercise of the underwriters’ over-allotment option. The proceeds from the offering of $471.6 million, net of underwriting fees and expenses, were partially used to fund the acquisition of BEC on April 1, 2015 and for general corporate purposes. Accumulated Other Comprehensive Loss The following represents the changes and balances to the components of accumulated other comprehensive loss for the quarters ended March 31, 2016 and 2015 ($ in thousands): Post-Retirement Translation (1) Total Noncontrolling Total 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 March 31, 2015 $ (18,837 ) $ (8,910 ) $ (27,747 ) $ 3,772 $ (23,975 ) Balance at December 31, 2015 $ (14,788 ) $ (14,530 ) $ (29,318 ) $ 6,023 $ (23,295 ) Translation adjustment — 3,563 3,563 (1,434 ) 2,129 Purchase of noncontrolling interest (2) — — — (4,589 ) (4,589 ) Balance at March 31, 2016 $ (14,788 ) $ (10,967 ) $ (25,755 ) $ — $ (25,755 ) (1) Translation adjustment is presented net of tax expense of $1.5 million and tax benefit of $1.7 million for the quarters ended March 31, 2016 and 2015, respectively. (2) On March 31, 2016, IMTT acquired the remaining 33.3% interest in its Quebec terminal that it did not previously own. As part of this transaction, the translation adjustment of $4.6 million, net of taxes, was reclassified from noncontrolling interests to stockholders’ accumulated other comprehensive loss.

Reportable Segments

Reportable Segments	3 Months Ended
	Mar. 31, 2016
Segment Reporting [Abstract]
Reportable Segments	9. Reportable Segments At March 31, 2016, the Company’s businesses consist of four reportable segments: IMTT, Atlantic Aviation, CP&E and Hawaii Gas. IMTT IMTT provides bulk liquid terminal and handling services in North America through ten terminals located in the United States, one terminal in Quebec, Canada and one partially owned terminal in Newfoundland, Canada. IMTT derives the majority of its revenue from storage and handling of petroleum products, various chemicals, renewable fuels, and vegetable and animal oils. Based on storage capacity, IMTT operates one of the largest third-party bulk liquid terminals businesses in the United States. Revenue from IMTT is included in service revenue. 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 March 31, 2016, the business operates on 68 airports. Revenue from Atlantic Aviation is included in service revenue. CP&E The CP&E business segment derives revenue from solar, wind and gas-fired power facilities. Revenues from the solar, wind and gas-fired power facilities are included in product revenue. As of March 31, 2016, the Company has controlling interests in six utility-scale solar photovoltaic power facilities, two wind power facilities and a gas-fired power facility that are located in the United States. The solar and wind power facilities that are operational at March 31, 2016 have an aggregate generating capacity of 260 megawatt (MW) of wholesale electricity to utilities. These facilities sell substantially all of the electricity generated, subject to agreed upon pricing formulas, to electric utilities pursuant to long-term (typically 20 – 25 years) power purchase agreements (PPAs). These projects are held in LLCs, and are treated as partnerships for income tax purposes, with co-investors. The acquisition price on these projects can vary depending on, among other things, factors such as the size of the project, PPA terms, eligibility for tax incentives, debt package, operating cost structure and development stage. A completed project takes out all of the construction risk, testing and costs associated with construction contracts. The Company has certain rights to make decisions over the management and operations of these solar and wind power facilities. The Company has determined that it is appropriate to consolidate these projects, with the co-investors’ interest reflected as “noncontrolling interests” in the consolidated condensed financial statements. On April 1, 2015, the Company acquired 100% of BEC. As a result of this transaction, the financial results of BEC have been consolidated as part of CP&E segment since the acquisition date. BEC is a 512 MW gas-fired power facility located in Bayonne, New Jersey, adjacent to IMTT’s Bayonne facility. BEC has tolling agreements with a creditworthy off-taker for 62.5% of its power generating capacity and power produced is delivered to New York City via a dedicated transmission cable under New York Harbor. Hawaii Gas 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. Revenue from Hawaii Gas is included in product revenue. 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. Quarter Ended March 31, 2016 IMTT Atlantic Contracted Power and Energy Hawaii Intersegment Revenue Total Reportable Segments Service revenue $ 135,425 $ 177,988 $ — $ — $ (1,172 ) $ 312,241 Product revenue — — 30,179 53,967 — 84,146 Total revenue $ 135,425 $ 177,988 $ 30,179 $ 53,967 $ (1,172 ) $ 396,387 Quarter Ended March 31, 2015 IMTT Atlantic Contracted Power and Energy Hawaii Total Reportable Segments Service revenue $ 138,061 $ 187,941 $ — $ — $ 326,002 Product revenue — — 11,832 60,664 72,496 Total revenue $ 138,061 $ 187,941 $ 11,832 $ 60,664 $ 398,498 In accordance with FASB ASC 280 Segment Reporting Quarter Ended March 31, 2016 IMTT Atlantic Contracted Power Hawaii Total Reportable Segments Net income (loss) $ 16,158 $ 14,358 $ (6,985 ) $ 9,069 $ 32,600 Interest expense, net 19,871 13,314 17,848 2,424 53,457 Provision (benefit) for income taxes 11,229 9,742 (2,304 ) 5,911 24,578 Depreciation 29,865 8,373 12,739 2,244 53,221 Amortization of intangibles 2,756 13,818 1,107 106 17,787 Other non-cash expense (income) 2,333 (74 ) (4,258 ) (2,402 ) (4,401 ) EBITDA excluding non-cash items $ 82,212 $ 59,531 $ 18,147 $ 17,352 $ 177,242 Quarter Ended March 31, 2015 IMTT Atlantic Contracted Power Hawaii Total Reportable Segments Net income (loss) $ 20,274 $ (10,577 ) $ (3,539 ) $ 8,855 $ 15,013 Interest expense, net 6,906 13,085 6,338 1,943 28,272 Provision (benefit) for income taxes 14,089 (6,689 ) (818 ) 5,532 12,114 Depreciation 33,115 14,999 7,266 2,042 57,422 Amortization of intangibles 2,764 44,716 179 312 47,971 Other non-cash expense (income) 1,256 725 (2,941 ) (1,830 ) (2,790 ) EBITDA excluding non-cash items $ 78,404 $ 56,259 $ 6,485 $ 16,854 $ 158,002 Quarter Ended March 31, 2016 2015 Total reportable segments EBITDA excluding non-cash items $ 177,242 $ 158,002 Interest income 33 6 Interest expense (56,895 ) (31,521 ) Depreciation (53,221 ) (57,422 ) Amortization of intangibles (17,787 ) (47,971 ) Selling, general and administrative expenses - Corporate and Other (1,455 ) (2,946 ) Fees to Manager-related party (14,796 ) (165,273 ) Other income, net 2,222 1,277 Total consolidated net income (loss) before income taxes $ 35,343 $ (145,848 ) Quarter Ended March 31, 2016 2015 IMTT $ 23,408 $ 11,869 Atlantic Aviation 21,271 8,223 Contracted Power and Energy 5,840 — Hawaii Gas 12,074 5,389 Total $ 62,593 $ 25,481 Property, Equipment, Goodwill Total Assets March 31, December 31, 2015 March 31, December 31, 2015 March 31, December 31, 2015 (1) IMTT $ 2,232,091 $ 2,238,654 $ 1,411,269 $ 1,410,668 $ 3,977,694 $ 4,000,079 Atlantic Aviation 404,456 390,188 464,801 464,722 1,506,657 1,502,512 Contracted Power and Energy 1,270,082 1,274,557 21,628 21,628 1,396,693 1,411,233 Hawaii Gas 221,881 212,764 120,193 120,193 393,032 386,080 Total $ 4,128,510 $ 4,116,163 $ 2,017,891 $ 2,017,211 $ 7,274,076 $ 7,299,904 (1) Conformed to current period presentation. See Note 2, “Basis of Presentation”, for Recently Issued Accounting Standards adopted in the quarter ended March 31, 2016. March 31, December 31, 2015 (1) Total assets of reportable segments $ 7,274,076 $ 7,299,904 Corporate and other 9,340 8,900 Total consolidated assets $ 7,283,416 $ 7,308,804 (1) Conformed to current period presentation. See Note 2, “Basis of Presentation”, for Recently Issued Accounting Standards adopted in the quarter ended March 31, 2016.

Related Party Transactions

Related Party Transactions	3 Months Ended
	Mar. 31, 2016
Related Party Transactions [Abstract]
Related Party Transactions	10. Related Party Transactions Management Services At March 31, 2016 and December 31, 2015, the Manager held 5,739,552 shares and 5,506,369 shares, respectively, of the Company. Pursuant to the terms of the management services agreement (Management Agreement), the Manager may sell these shares at any time. Under the Management Agreement, the Manager, at its option, may reinvest performance fees and base management fees in shares of the Company. Since January 1, 2015, the Company paid the Manager cash dividends on shares held for the following periods: Declared Period Covered $ per Share Record Date Payable Date Cash Paid thousands) April 28, 2016 First quarter 2016 $ 1.20 May 12, 2016 May 17, 2016 $ (1) February 18, 2016 Fourth quarter 2015 $ 1.15 March 3, 2016 March 8, 2016 $ 6,510 October 29, 2015 Third quarter 2015 $ 1.13 November 13, 2015 November 18, 2015 $ 6,052 July 30, 2015 Second quarter 2015 $ 1.11 August 13, 2015 August 18, 2015 $ 5,693 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 (1) The amount of dividend payable to the Manager for the first quarter of 2016 will be determined on May 12, 2016, 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 of its employees to serve as chief executive officer and chief financial officer of the Company and seconds or makes other personnel available as required. 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 total shareholder return relative to a U.S. utilities index. For the quarters ended March 31, 2016 and 2015, the Company incurred base management fees of $14.8 million and $16.5 million, respectively. For the quarter ended March 31, 2015, the Company incurred a performance fee of $148.7 million. For the quarter ended March 31, 2016, the Manager did not earn a performance fee. In accordance with the Third Amended and Restated Management Service Agreement, unless the Manager changes its current election, base management fees and performance fees, if any, are reinvested in additional shares of MIC. 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 reinvestment of its base management fees and performance fees, if any, in shares, except as noted: Period Base Management Performance Shares 2016 Activity: First quarter 2016 $ 14,796 $ — 234,179 (1) 2015 Activities: Fourth quarter 2015 $ 17,009 $ — 227,733 Third quarter 2015 18,118 — 226,914 Second quarter 2015 18,918 135,641 223,827 (2) First quarter 2015 16,545 148,728 2,068,038 (1) The Manager elected to reinvest all of the monthly base management fees for the first quarter of 2016 in shares. The Company issued 234,179 shares for the quarter ended March 31, 2016, including 78,015 shares that were issued in April 2016 for the March 2016 monthly base management fee. (2) In July 2015, the Board requested, and the Manager agreed, that $67.8 million of the performance fee for the quarter ended June 30, 2015 be settled in cash in July 2015 to minimize dilution. The remaining $67.8 million obligation was deferred until July 2016. 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 quarters ended March 31, 2016 and 2015, the Manager charged the Company $71,000 and $88,000, respectively, for reimbursement of out-of-pocket expenses. The unpaid portion of the out-of-pocket expenses at the end of the reporting period is included in “Due to Manager-related party” in the consolidated condensed balance sheets. 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 Third Amended Agreement), among the Company, MIC Ohana Corporation and the Manager. Concurrently with the Conversion, the Manager was issued 100 shares of a new series of special stock of the Company in order to induce the Manager to enter into the Third Amended Agreement. The sole purpose for the issuance of shares of special stock to the Manager was to preserve the Manager’s existing right to appoint one director who served as the chairman of the board of directors of MIC pursuant to the terms of MIC’s operating agreement, which right would otherwise have been lost upon consummation of the Conversion. Following the Conversion and the issuance of special stock, the Manager’s right to elect one director who serves as chairman remains the same as was in effect prior to the Conversion. The Company did not grant any additional rights to the Manager through the special stock issuance. 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 (MBL) and Macquarie Capital (USA) Inc. (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 per share, from time to time having an aggregate gross offering price of up to $400.0 million. These sales, if any, will be made pursuant to the terms of an equity distribution agreement entered into between the Company and the sales agents, with MCUSA being one of the sales agents. Under the terms of the equity distribution agreement, the Company may also sell shares to any sales agent as principal for its own account at a price agreed upon at the time of the sale. For the quarter ended March 31, 2016, the Company did not engage MCUSA for such activities. In March 2015, the Company completed underwritten public offering of 6,109,375 shares. In this offering, MCUSA served as a joint book-running manager and an underwriter and received $2.3 million from the Company for such services. Long-Term Debt Atlantic Aviation’s $70.0 million revolving credit facility is provided by various financial institutions, including MBL which provides $15.7 million. At March 31, 2016 and December 31, 2015, the revolving credit facility remained undrawn. For the quarters ended March 31, 2016 and 2015, Atlantic Aviation incurred and paid $29,000 and $28,000, respectively, in commitment fees related to MBL’s portion of the revolving credit facility. During 2015, the Company increased the aggregate commitments under its senior secured revolving credit facility at the holding company from $250.0 million to $410.0 million with all terms remaining the same. MIHI LLC’s commitment of $50.0 million out of the total commitment remained unchanged. For the quarters ended March 31, 2016 and 2015, the Company incurred $34,000 for both periods in commitment fees related to MIHI LLC’s portion of the MIC senior secured revolving credit facility. For the quarter ended March 31, 2016, the Company also paid $6,000 in interest related to MIHI LLC’s portion of the amounts drawn on the MIC senior secured revolving credit facility. The Company had $35,000 payable in accrued interest at March 31, 2016 and December 31, 2015, in the consolidated condensed balance sheets related to the commitment fees and interest expense. 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 quarters ended March 31, 2016 and 2015. During the quarter ended March 31, 2016, 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 quarters ended March 31, 2016 and 2015, no payments were made directly to MIF for property and casualty insurance. During 2015, Hawaii Gas appointed an independent director who is the chief executive officer of one of its syndicate of lenders on its $80.0 million term loan debt facility and its $60.0 million revolving credit facility, which were refinanced in February 2016. Of the $80.0 million term loan debt facility and the $60.0 million revolving credit facility, the portion committed by this lender changed from the original $11.4 million and $8.6 million, respectively, to $8.6 million and $6.4 million, respectively. As part of the refinancing, Hawaii Gas paid $32,000 in deferred financing fees to this lender during the quarter ended March 31, 2016. For the quarter ended March 31, 2016, the business incurred $60,000 of interest expense on the $80.0 million term loan debt facility and $4,000 of commitment fees on the $60.0 million revolving credit facility. The business had $11,000 payable to this lender for accrued interest at March 31, 2016. In addition, Hawaii Gas held $100,000 in cash with this bank at March 31, 2016 and December 31, 2015. Macquarie Energy North America Trading, Inc. (MENAT), an indirect subsidiary of Macquarie Group Limited, entered into contracts with IMTT to lease a total of 154,000 barrels of capacity during the quarter ended June 30, 2015, of which the contract for 56,000 barrels expired within the same quarter. During the quarter ended March 31, 2016, MENAT entered into additional contracts with IMTT to lease an additional 823,000 barrels of capacity. At March 31, 2016, a total capacity of 921,000 barrels were leased to MENAT. The revenue recognized pursuant to these agreements during the quarter ended March 31, 2016 was $1.2 million. At March 31, 2016, IMTT had $44,000 recorded in accounts receivable in the consolidated condensed balance sheet. During the quarter ended March 31, 2015, Macquarie Capital Markets Canada Ltd, an indirect subsidiary of Macquarie Group Limited, used Atlantic Aviation’s charter jet business and incurred $18,000 for this service. This amount was subsequently collected by Atlantic Aviation. 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 and paid $2,000 in lease expense on these copiers. As of March 31, 2015, the contract with MEF expired and there were no amounts due to MEF. 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 quarters ended March 31, 2016 and 2015. 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	3 Months Ended
	Mar. 31, 2016
Income Tax Disclosure [Abstract]
Income Taxes	11. Income Taxes The Company expects to incur federal consolidated taxable income for the year ending December 31, 2016, which will be fully offset by the Company’s net operating loss (NOL) carryforwards. The Company believes that it will be able to utilize all of its federal prior year NOLs, which will begin to expire after 2021 and completely expire after 2035. During the quarter ended March 31, 2016, the Company recorded an increase of approximately $550,000 to the valuation allowance attributable to certain state NOLs.

Legal Proceedings and Contingen

Legal Proceedings and Contingencies	3 Months Ended
	Mar. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Legal Proceedings and Contingencies	12. 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	3 Months Ended
	Mar. 31, 2016
Subsequent Events [Abstract]
Subsequent Events	13. Subsequent Events Dividend On April 28, 2016, the Board of Directors declared a dividend of $1.20 per share for the quarter ended March 31, 2016, which is expected to be paid on May 17, 2016 to holders of record on May 12, 2016.

Basis of Presentation (Policies

Basis of Presentation (Policies)	3 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
Use of Estimates	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	Recently Issued Accounting Standards On February 25, 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2016-02, Leases (Topic 842) On November 20, 2015, the FASB issued ASU No. 2015-17, Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes On September 25, 2015, the FASB issued ASU No. 2015-16, Business Combinations (Topic 805): Simplifying the Accounting for Measurement Period Adjustments On August 12, 2015, the FASB issued ASU No. 2015-14, Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date, Revenue from Contracts with Customers, On July 22, 2015, the FASB issued ASU No. 2015-11, Inventory (Topic 330): Simplifying the Measurement of Inventory, 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 On February 18, 2015, the FASB issued ASU No. 2015-02, Consolidation (Topic 810): Amendments to the Consolidation Analysis

Income (Loss) per Share (Tables

Income (Loss) per Share (Tables)	3 Months Ended
	Mar. 31, 2016
Earnings Per Share [Abstract]
Reconciliation of Earnings Income (Loss) per Share	Quarter Ended March 31, 2016 2015 Numerator: Net income (loss) attributable to MIC $ 22,355 $ (89,002 ) Diluted net income (loss) attributable to MIC $ 22,355 $ (89,002 ) Denominator: Weighted average number of shares outstanding: basic 80,113,011 73,150,111 Dilutive effect of restricted stock unit grants 8,660 — Dilutive effect of fees to Manager-related party 1,049,675 — Weighted average number of shares outstanding: diluted 81,171,346 73,150,111 Income (loss) per share: Basic income (loss) per share attributable to MIC $ 0.28 $ (1.22 ) Diluted income (loss) per share attributable to MIC $ 0.28 $ (1.22 )
Schedule of Antidilutive Securities	Quarter Ended March 31, 2016 2015 Restricted stock unit grants — 12,525 Convertible senior notes 4,139,250 4,127,970 Total 4,139,250 4,140,495

Property, Equipment, Land and24

Property, Equipment, Land and Leasehold Improvements (Tables)	3 Months Ended
	Mar. 31, 2016
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment	March 31, 2016 December 31, 2015 Land $ 299,469 $ 291,521 Easements 131 131 Buildings 41,189 41,049 Leasehold and land improvements 593,357 590,646 Machinery and equipment 3,491,415 3,455,776 Furniture and fixtures 29,916 29,547 Construction in progress 220,355 203,146 4,675,832 4,611,816 Less: accumulated depreciation (547,322 ) (495,653 ) Property, equipment, land and leasehold improvements, net $ 4,128,510 $ 4,116,163

Intangible Assets (Tables)

Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets	March 31, December 31, Contractual arrangements $ 905,028 $ 901,807 Non-compete agreements 9,665 9,665 Customer relationships 341,070 340,425 Leasehold rights 350 350 Trade names 16,091 16,091 Technology 8,760 8,760 1,280,964 1,277,098 Less: accumulated amortization (360,030 ) (342,206 ) Intangible assets, net $ 920,934 $ 934,892
Schedule of Goodwill	Goodwill acquired in business combinations, net of disposals, at December 31, 2015 $ 2,143,057 Less: accumulated impairment charges (123,200 ) Less: other (2,646 ) Balance at December 31, 2015 2,017,211 Add: goodwill related to 2016 acquisitions 79 Add: other 601 Balance at March 31, 2016 $ 2,017,891

Long-Term Debt (Tables)

Long-Term Debt (Tables)	3 Months Ended
	Mar. 31, 2016
Debt Instrument [Line Items]
Schedule of Long-Term Debt	March 31, December 31, IMTT $ 1,146,571 $ 1,127,223 Atlantic Aviation 602,925 604,609 CP&E 550,092 555,486 Hawaii Gas 180,000 180,000 MIC Corporate 369,971 365,975 Total debt 2,849,559 2,833,293 Less: current portion (43,197 ) (40,099 ) Long-term portion 2,806,362 2,793,194 Less: unamortized deferred financing costs (1) (44,986 ) (46,669 ) Long-term portion less unamortized deferred financing costs $ 2,761,376 $ 2,746,525 (1) The weighted average remaining life of the deferred financing costs at March 31, 2016 was 6.0 years.
Hawaii Gas Business [Member]
Debt Instrument [Line Items]
Schedule of Material Terms	Facility Terms Holding Company Debt Operating Company Debt Borrowers HGC Holdings LLC (HGC) The Gas Company, LLC (TGC) Facilities $80.0 million term loan (fully drawn at March 31, 2016) $60.0 million revolver credit facility (undrawn at March 31, 2016) Maturity February 2021, subject to two 1-year extensions at borrower’s option February 2021, subject to two 1-year extensions at borrower’s option Amortization Payable at maturity Revolving, payable at maturity Interest Rate LIBOR plus 1.75% or Base Rate: 0.75% above the greater of the prime rate or the federal funds rate plus 0.5% LIBOR plus 1.25% or Base Rate: 0.25% above the greater of the prime rate or the federal funds rate plus 0.5% Commitment Fees — 0.225% on the undrawn portion Collateral First lien on all assets of HGC and its subsidiaries First lien on all assets of TGC and its subsidiaries

Derivative Instruments and He27

Derivative Instruments and Hedging Activities (Tables)	3 Months Ended
	Mar. 31, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Fair Value of Derivative Instruments	Assets (Liabilities) at (1) Balance Sheet Location March 31, 2016 December 31, 2015 Fair value of derivative instruments – other noncurrent assets (2) $ 62 $ 1,810 Total derivative contracts – assets (2) $ 62 $ 1,810 Fair value of derivative instruments – current liabilities (2) (3) $ (19,845 ) $ (19,628 ) Fair value of derivative instruments – noncurrent liabilities (2) (3) (37,012 ) (15,698 ) Total derivative contracts – liabilities (2) (3) $ (56,857 ) $ (35,326 ) (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	Amount of (Loss) Gain Financial Statement Account 2016 2015 Interest expense – interest rate swaps $ (32,224 ) $ (12,919 ) Cost of product sales – commodity swaps 2,306 (18 ) Total $ (29,918 ) $ (12,937 )

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	3 Months Ended
	Mar. 31, 2016
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Loss	Post-Retirement Translation (1) Total Noncontrolling Total 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 March 31, 2015 $ (18,837 ) $ (8,910 ) $ (27,747 ) $ 3,772 $ (23,975 ) Balance at December 31, 2015 $ (14,788 ) $ (14,530 ) $ (29,318 ) $ 6,023 $ (23,295 ) Translation adjustment — 3,563 3,563 (1,434 ) 2,129 Purchase of noncontrolling interest (2) — — — (4,589 ) (4,589 ) Balance at March 31, 2016 $ (14,788 ) $ (10,967 ) $ (25,755 ) $ — $ (25,755 ) (1) Translation adjustment is presented net of tax expense of $1.5 million and tax benefit of $1.7 million for the quarters ended March 31, 2016 and 2015, respectively. (2) On March 31, 2016, IMTT acquired the remaining 33.3% interest in its Quebec terminal that it did not previously own. As part of this transaction, the translation adjustment of $4.6 million, net of taxes, was reclassified from noncontrolling interests to stockholders’ accumulated other comprehensive loss.

Reportable Segments (Tables)

Reportable Segments (Tables)	3 Months Ended
	Mar. 31, 2016
Schedule of Revenue From External Customers	Quarter Ended March 31, 2016 IMTT Atlantic Contracted Power and Energy Hawaii Intersegment Revenue Total Reportable Segments Service revenue $ 135,425 $ 177,988 $ — $ — $ (1,172 ) $ 312,241 Product revenue — — 30,179 53,967 — 84,146 Total revenue $ 135,425 $ 177,988 $ 30,179 $ 53,967 $ (1,172 ) $ 396,387 Quarter Ended March 31, 2015 IMTT Atlantic Contracted Power and Energy Hawaii Total Reportable Segments Service revenue $ 138,061 $ 187,941 $ — $ — $ 326,002 Product revenue — — 11,832 60,664 72,496 Total revenue $ 138,061 $ 187,941 $ 11,832 $ 60,664 $ 398,498
Schedule of EBITDA for Reportable Segments	Quarter Ended March 31, 2016 IMTT Atlantic Contracted Power Hawaii Total Reportable Segments Net income (loss) $ 16,158 $ 14,358 $ (6,985 ) $ 9,069 $ 32,600 Interest expense, net 19,871 13,314 17,848 2,424 53,457 Provision (benefit) for income taxes 11,229 9,742 (2,304 ) 5,911 24,578 Depreciation 29,865 8,373 12,739 2,244 53,221 Amortization of intangibles 2,756 13,818 1,107 106 17,787 Other non-cash expense (income) 2,333 (74 ) (4,258 ) (2,402 ) (4,401 ) EBITDA excluding non-cash items $ 82,212 $ 59,531 $ 18,147 $ 17,352 $ 177,242 Quarter Ended March 31, 2015 IMTT Atlantic Contracted Power Hawaii Total Reportable Segments Net income (loss) $ 20,274 $ (10,577 ) $ (3,539 ) $ 8,855 $ 15,013 Interest expense, net 6,906 13,085 6,338 1,943 28,272 Provision (benefit) for income taxes 14,089 (6,689 ) (818 ) 5,532 12,114 Depreciation 33,115 14,999 7,266 2,042 57,422 Amortization of intangibles 2,764 44,716 179 312 47,971 Other non-cash expense (income) 1,256 725 (2,941 ) (1,830 ) (2,790 ) EBITDA excluding non-cash items $ 78,404 $ 56,259 $ 6,485 $ 16,854 $ 158,002
Schedule of Capital Expenditures	Quarter Ended March 31, 2016 2015 IMTT $ 23,408 $ 11,869 Atlantic Aviation 21,271 8,223 Contracted Power and Energy 5,840 — Hawaii Gas 12,074 5,389 Total $ 62,593 $ 25,481
Schedule of Assets of Reportable Segments	Property, Equipment, Goodwill Total Assets March 31, December 31, 2015 March 31, December 31, 2015 March 31, December 31, 2015 (1) IMTT $ 2,232,091 $ 2,238,654 $ 1,411,269 $ 1,410,668 $ 3,977,694 $ 4,000,079 Atlantic Aviation 404,456 390,188 464,801 464,722 1,506,657 1,502,512 Contracted Power and Energy 1,270,082 1,274,557 21,628 21,628 1,396,693 1,411,233 Hawaii Gas 221,881 212,764 120,193 120,193 393,032 386,080 Total $ 4,128,510 $ 4,116,163 $ 2,017,891 $ 2,017,211 $ 7,274,076 $ 7,299,904 (1) Conformed to current period presentation. See Note 2, “Basis of Presentation”, for Recently Issued Accounting Standards adopted in the quarter ended March 31, 2016.
Schedule of Reconciliation of Assets of Reportable Segments	March 31, December 31, 2015 (1) Total assets of reportable segments $ 7,274,076 $ 7,299,904 Corporate and other 9,340 8,900 Total consolidated assets $ 7,283,416 $ 7,308,804 (1) Conformed to current period presentation. See Note 2, “Basis of Presentation”, for Recently Issued Accounting Standards adopted in the quarter ended March 31, 2016.
Reportable Segment [Member]
Schedule of EBITDA for Reportable Segments	Quarter Ended March 31, 2016 2015 Total reportable segments EBITDA excluding non-cash items $ 177,242 $ 158,002 Interest income 33 6 Interest expense (56,895 ) (31,521 ) Depreciation (53,221 ) (57,422 ) Amortization of intangibles (17,787 ) (47,971 ) Selling, general and administrative expenses - Corporate and Other (1,455 ) (2,946 ) Fees to Manager-related party (14,796 ) (165,273 ) Other income, net 2,222 1,277 Total consolidated net income (loss) before income taxes $ 35,343 $ (145,848 )

Related Party Transactions (Tab

Related Party Transactions (Tables)	3 Months Ended
	Mar. 31, 2016
Related Party Transactions [Abstract]
Schedule of Dividends Paid to Manager	Declared Period Covered $ per Share Record Date Payable Date Cash Paid thousands) April 28, 2016 First quarter 2016 $ 1.20 May 12, 2016 May 17, 2016 $ (1) February 18, 2016 Fourth quarter 2015 $ 1.15 March 3, 2016 March 8, 2016 $ 6,510 October 29, 2015 Third quarter 2015 $ 1.13 November 13, 2015 November 18, 2015 $ 6,052 July 30, 2015 Second quarter 2015 $ 1.11 August 13, 2015 August 18, 2015 $ 5,693 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 (1) The amount of dividend payable to the Manager for the first quarter of 2016 will be determined on May 12, 2016, the record date.
Schedule of Base Management Fees and Performance Fees	Period Base Management Performance Shares 2016 Activity: First quarter 2016 $ 14,796 $ — 234,179 (1) 2015 Activities: Fourth quarter 2015 $ 17,009 $ — 227,733 Third quarter 2015 18,118 — 226,914 Second quarter 2015 18,918 135,641 223,827 (2) First quarter 2015 16,545 148,728 2,068,038 (1) The Manager elected to reinvest all of the monthly base management fees for the first quarter of 2016 in shares. The Company issued 234,179 shares for the quarter ended March 31, 2016, including 78,015 shares that were issued in April 2016 for the March 2016 monthly base management fee. (2) In July 2015, the Board requested, and the Manager agreed, that $67.8 million of the performance fee for the quarter ended June 30, 2015 be settled in cash in July 2015 to minimize dilution. The remaining $67.8 million obligation was deferred until July 2016.

Organization and Description 31

Organization and Description of Business (Details)	Mar. 31, 2016Item
Canada- IMTT [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Number of marine terminals	2
United States- IMTT [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Number of marine terminals	10
Atlantic Aviation [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Number of Airport Locations	68

Basis of Presentation (Narrativ

Basis of Presentation (Narrative) (Details) $ in Millions	Dec. 31, 2015USD ($)
Restatement Adjustment [Member]
Significant Accounting Policies [Line Items]
Deferred income taxes	$ 23.4

Income (Loss) per Share (Narrat

Income (Loss) per Share (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Class of Stock [Line Items]
Antidilutive securities	4,139,250	4,140,495
Performance fee to be reinvested by the Manager	$ 67.8
Restricted stock unit grants May 21, 2014 [Member]
Class of Stock [Line Items]
Antidilutive securities		12,525
Restricted stock unit grants June 18, 2015 [Member]
Class of Stock [Line Items]
Potentially dilutive shares	8,660
Convertible Senior Notes [Member]
Class of Stock [Line Items]
Antidilutive securities	4,139,250	4,127,970

Income (Loss) per Share (Schedu

Income (Loss) per Share (Schedule of Reconciliation of Number of Shares Used in Computing [Income (Loss)] per Share) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Numerator:
Net income (loss) attributable to MIC	$ 22,355	$ (89,002)
Diluted net income (loss) attributable to MIC	$ 22,355	$ (89,002)
Denominator:
Weighted average number of shares outstanding: basic	80,113,011	73,150,111
Dilutive effect of restricted stock unit grants	8,660	0
Dilutive effect of fees to Manager-related party	1,049,675	0
Weighted average number of shares outstanding: diluted	81,171,346	73,150,111
Income (loss) per share:
Basic income (loss) per share attributable to MIC	$ 0.28	$ (1.22)
Diluted income (loss) per share attributable to MIC	$ 0.28	$ (1.22)

Income (Loss) per Share (Sche35

Income (Loss) per Share (Schedule of Shares Excluded from Calculation) (Details) - shares	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities	4,139,250	4,140,495
Restricted Stock Unit Grants [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities	0	12,525
Convertible Senior Notes [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities	4,139,250	4,127,970

Property, Equipment, Land and36

Property, Equipment, Land and Leasehold Improvements (Schedule of Property and Equipment) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2016	Dec. 31, 2015
Property, Plant and Equipment [Line Items]
Land		$ 299,469	$ 291,521
Easements		131	131
Buildings		41,189	41,049
Leasehold and land improvements		593,357	590,646
Machinery and equipment		3,491,415	3,455,776
Furniture and fixtures		29,916	29,547
Construction in progress		220,355	203,146
Property, Plant and Equipment, Gross, Total		4,675,832	4,611,816
Less: accumulated depreciation		(547,322)	(495,653)
Property, equipment, land and leasehold improvements, net		$ 4,128,510	$ 4,116,163	[1]
Land and Leasehold Improvements [Member] | Atlantic Aviation [Member]
Property, Plant and Equipment [Line Items]
Fixed assets impairment charge	$ 4,200
Multiple Fixed Based Operations [Member] | Land and Leasehold Improvements [Member] | Atlantic Aviation [Member]
Property, Plant and Equipment [Line Items]
Fixed assets impairment charge	$ 2,800
[1]	Conformed to current period presentation. See Note 2, "Basis of Presentation", for Recently Issued Accounting Standards adopted in the quarter ended March 31, 2016.

Intangible Assets (Schedule of

Intangible Assets (Schedule of Intangible Assets) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2016	Dec. 31, 2015
Intangible Assets [Line Items]
Contractual arrangements		$ 905,028	$ 901,807
Non-compete agreements		9,665	9,665
Customer relationships		341,070	340,425
Leasehold rights		350	350
Trade names		16,091	16,091
Technology		8,760	8,760
Intangible assets, gross		1,280,964	1,277,098
Less: accumulated amortization		(360,030)	(342,206)
Intangible assets, net		$ 920,934	$ 934,892	[1]
Atlantic Aviation [Member] | Multiple FBOs [Member] | Contractual Rights [Member]
Intangible Assets [Line Items]
Intangible impairment charge	$ 13,500
Atlantic Aviation [Member] | One specific FBO [Member] | Contractual Rights [Member]
Intangible Assets [Line Items]
Intangible impairment charge	$ 17,800
[1]	Conformed to current period presentation. See Note 2, "Basis of Presentation", for Recently Issued Accounting Standards adopted in the quarter ended March 31, 2016.

Intangible Assets (Schedule o38

Intangible Assets (Schedule of Goodwill) (Details) - USD ($) $ in Thousands		3 Months Ended	12 Months Ended
		Mar. 31, 2016	Dec. 31, 2015
Intangible Assets [Abstract]
Goodwill acquired in business combinations, net of disposals			$ 2,143,057
Less: accumulated impairment charges			(123,200)
Balance at December 31, 2015	[1]	$ 2,017,211
Add: goodwill related to 2016 acquisitions		79
Add (Less): other		601	(2,646)
Balance at March 31, 2016		$ 2,017,891	$ 2,017,211	[1]
[1]	Conformed to current period presentation. See Note 2, "Basis of Presentation", for Recently Issued Accounting Standards adopted in the quarter ended March 31, 2016.

Long-Term Debt (Narrative) (Det

Long-Term Debt (Narrative) (Details) - USD ($) $ in Millions	Aug. 08, 2016	Mar. 04, 2016	Feb. 10, 2016	Apr. 30, 2016	Mar. 31, 2016	Mar. 30, 2016	Feb. 29, 2016	Jan. 31, 2016	Dec. 31, 2015	Jul. 31, 2014
Revolving Credit Facility [Member]
Debt Disclosure [Line Items]
Undrawn portion of line of credit					$ 1,100
Revolving Credit Facility [Member] | MIC Corporate [Member]
Debt Disclosure [Line Items]
Undrawn portion of line of credit					390
Borrowing capacity									$ 410	$ 250
Drawn on revolver credit facility						$ 20
Repayment of revolving credit facility							$ 9	$ 7
Revolving Credit Facility [Member] | MIC Corporate [Member] | Subsequent Event [Member]
Debt Disclosure [Line Items]
Repayment of revolving credit facility				$ 10
Revolving Credit Facility [Member] | Hawaii Gas Business [Member]
Debt Disclosure [Line Items]
Borrowing capacity			$ 60		60				60
Debt instrument, term			5 years
Fixed portion of interest rate component			1.25%
Change in fixed margin			0.25%
Revolving Credit Facility [Member] | Hawaii Gas Business [Member] | Maximum [Member]
Debt Disclosure [Line Items]
Fixed portion of interest rate component			1.75%
Revolving Credit Facility [Member] | Hawaii Gas Business [Member] | Minimum [Member]
Debt Disclosure [Line Items]
Fixed portion of interest rate component			1.00%
Revolving Credit Facility [Member] | United States- IMTT [Member]
Debt Disclosure [Line Items]
Undrawn portion of line of credit					530
Drawn on revolver credit facility		$ 76
Repayment of revolving credit facility					56
Revolving Credit Facility [Member] | Canada- IMTT [Member]
Debt Disclosure [Line Items]
Undrawn portion of line of credit					50
Term Loan Facility [Member] | Hawaii Gas Business [Member]
Debt Disclosure [Line Items]
Borrowing capacity			$ 80		$ 80				$ 80
Debt instrument, term			5 years
Fixed portion of interest rate component			1.75%
Change in fixed margin			0.50%
Term Loan Facility [Member] | Hawaii Gas Business [Member] | Maximum [Member]
Debt Disclosure [Line Items]
Fixed portion of interest rate component			1.75%
Term Loan Facility [Member] | Hawaii Gas Business [Member] | Minimum [Member]
Debt Disclosure [Line Items]
Fixed portion of interest rate component			1.00%
Interest Rate Swap [Member] | Term Loan Facility [Member] | Hawaii Gas Business [Member]
Debt Disclosure [Line Items]
Fixed interest rate					0.64%
Interest Rate Swap [Member] | Term Loan Facility [Member] | Hawaii Gas Business [Member] | Scenario, Forecast [Member]
Debt Disclosure [Line Items]
Fixed interest rate	0.99%
Derivative, Term of Contract	4 years

Long-Term Debt (Schedule of Lon

Long-Term Debt (Schedule of Long-Term Debt) (Details) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Current and long-term Debt		$ 2,849,559	$ 2,833,293
Less: current portion		(43,197)	(40,099)	[1]
Long-term portion		2,806,362	2,793,194
Less: unamortized deferred financing costs	[2]	(44,986)	(46,669)
Long-term portion less unamortized deferred financing costs		$ 2,761,376	2,746,525	[1]
Weighted Average Remaining Life Of Deferred Financing Costs		6 years
IMTT [Member]
Debt Instrument [Line Items]
Current and long-term Debt		$ 1,146,571	1,127,223
Atlantic Aviation [Member]
Debt Instrument [Line Items]
Current and long-term Debt		602,925	604,609
Contracted Power and Energy Businesses [Member]
Debt Instrument [Line Items]
Current and long-term Debt		550,092	555,486
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		$ 369,971	$ 365,975
[1]	Conformed to current period presentation. See Note 2, "Basis of Presentation", for Recently Issued Accounting Standards adopted in the quarter ended March 31, 2016.
[2]	The weighted average remaining life of the deferred financing costs at March 31, 2016 was 6.0 years.

Long-Term Debt (Schedule of Mat

Long-Term Debt (Schedule of Material Terms) (Details) - Hawaii Gas Business [Member] - USD ($) $ in Millions	Feb. 10, 2016	Mar. 31, 2016	Dec. 31, 2015
Term Loan Facility [Member]
Line of Credit Facility [Line Items]
Borrowing capacity	$ 80	$ 80	$ 80
Maturity		Feb. 28, 2021
Fixed portion of interest rate component	1.75%
Number of extensions		2
Duration of extensions		1 year
Term Loan Facility [Member] | Base Rate [Member]
Line of Credit Facility [Line Items]
Fixed portion of interest rate component		0.75%
Term Loan Facility [Member] | LIBOR [Member]
Line of Credit Facility [Line Items]
Fixed portion of interest rate component		1.75%
Term Loan Facility [Member] | Federal Funds Rate [Member]
Line of Credit Facility [Line Items]
Fixed portion of interest rate component		0.50%
Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Borrowing capacity	$ 60	$ 60	$ 60
Maturity		Feb. 28, 2021
Fixed portion of interest rate component	1.25%
Interest rate and fees, commitment fee percentage		0.225%
Number of extensions		2
Duration of extensions		1 year
Revolving Credit Facility [Member] | Base Rate [Member]
Line of Credit Facility [Line Items]
Fixed portion of interest rate component		0.25%
Revolving Credit Facility [Member] | LIBOR [Member]
Line of Credit Facility [Line Items]
Fixed portion of interest rate component		1.25%
Revolving Credit Facility [Member] | Federal Funds Rate [Member]
Line of Credit Facility [Line Items]
Fixed portion of interest rate component		0.50%

Derivative Instruments and He42

Derivative Instruments and Hedging Activities (Narrative) (Details) - USD ($) $ in Thousands	Feb. 10, 2016	Aug. 08, 2016	Mar. 31, 2016	Dec. 31, 2015
Derivative [Line Items]
Current and long-term debt			$ 2,849,559	$ 2,833,293
Fixed rate debt			1,200,000
Unhedged debt			40,000
Interest Rate Contracts [Member]
Derivative [Line Items]
Debt economically hedged with interest rate contracts			1,600,000
Hawaii Gas Business [Member]
Derivative [Line Items]
Current and long-term debt			$ 180,000	$ 180,000
Term Loan Facility [Member] | Hawaii Gas Business [Member] | Interest Rate Swaps [Member]
Derivative [Line Items]
Notional amount of derivative	$ 80,000
Weighted average interest rate			2.39%
Derivatives, expiration date	Feb. 8, 2020
Term Loan Facility [Member] | Hawaii Gas Business [Member] | Interest Rate Swaps [Member] | Scenario, Forecast [Member]
Derivative [Line Items]
Weighted average interest rate		2.74%

Derivative Instruments and He43

Derivative Instruments and Hedging Activities (Schedule of Fair Value of Derivative Instruments) (Details) - USD ($) $ in Thousands		Mar. 31, 2016	Dec. 31, 2015
Derivatives, Fair Value [Line Items]
Fair value of derivative instruments - current liabilities		$ (19,845)	$ (19,628)	[1]
Fair value of derivative instruments - noncurrent liabilities		(37,012)	(15,698)	[1]
Interest Rate Swaps and Commodity Swaps [Member]
Derivatives, Fair Value [Line Items]
Fair value of derivative instruments - current liabilities	[2],[3],[4]	(19,845)	(19,628)
Fair value of derivative instruments - noncurrent liabilities	[2],[3],[4]	(37,012)	(15,698)
Total derivative contracts - liabilities	[2],[3],[4]	(56,857)	(35,326)
Interest Rate Swaps [Member]
Derivatives, Fair Value [Line Items]
Fair value of derivative instruments - other noncurrent assets	[3],[4]	62	1,810
Total derivative contracts - assets	[3],[4]	$ 62	$ 1,810
[1]	Conformed to current period presentation. See Note 2, "Basis of Presentation", for Recently Issued Accounting Standards adopted in the quarter ended March 31, 2016.
[2]	Derivative contracts include commodity hedges.
[3]	Derivative contracts include interest rate swaps.
[4]	Fair value measurements at reporting date were made using significant other observable inputs (level 2).

Derivative Instruments and He44

Derivative Instruments and Hedging Activities (Schedule of Location of Hedging Activities) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Derivative Instruments, Gain (Loss) [Line Items]
(Loss) Gain on derivative instruments	$ (29,918)	$ (12,937)
Interest Expense [Member]
Derivative Instruments, Gain (Loss) [Line Items]
(Loss) Gain on derivative instruments	(32,200)	(12,900)
Interest Expense [Member] | Interest Rate Swaps [Member]
Derivative Instruments, Gain (Loss) [Line Items]
(Loss) Gain on derivative instruments	(32,224)	(12,919)
Cost of product sales [Member] | Commodity swaps [Member]
Derivative Instruments, Gain (Loss) [Line Items]
(Loss) Gain on derivative instruments	$ 2,306	$ (18)

Stockholders' Equity (Narrative

Stockholders' Equity (Narrative) (Details)	Mar. 12, 2015USD ($)shares	Mar. 02, 2015shares	May. 21, 2015USD ($)$ / sharesshares	Mar. 31, 2015shares	Mar. 31, 2016USD ($)$ / sharesshares	Apr. 29, 2016$ / shares	Dec. 31, 2015$ / sharesshares	Jun. 24, 2015USD ($)$ / shares
Shares Activity [Line Items]
Equity offering, shares				6,109,375
Conversion of LLC interests to common stock | $			$ 79,000
Shares, authorized					500,000,000		500,000,000
Common stock, value per share | $ / shares			$ 0.001		$ 0.001	$ 0.001	$ 0.001
Special stock, authorized					100
Special stock, par value per share | $ / shares					$ 0.001
Preferred stock, authorized					100,000,000
Preferred stock, par value per share | $ / shares					$ 0.001
Shares, issued					80,257,596		80,006,744
Shares, outstanding					80,257,596		80,006,744
Special stock, issued					100
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					958,436
At the Market [Member]
Shares Activity [Line Items]
Equity offering, shares					37,000
Proceeds from equity offering | $					$ 3,000,000
Common stock, value per share | $ / shares								$ 0.001
At the Market [Member] | Maximum [Member]
Shares Activity [Line Items]
Aggregate gross offering price | $								$ 400,000,000
MIC Corporate [Member]
Shares Activity [Line Items]
Equity offering, shares		5,312,500
Proceeds from equity offering | $	$ 471,600,000
MIC Corporate [Member] | Over Allotment Option [Member]
Shares Activity [Line Items]
Equity offering, shares	796,875
Macquarie Infrastructure Management (USA) Inc. [Member]
Shares Activity [Line Items]
Special stock, issued			100
Special Stock [Member] | Macquarie Infrastructure Management (USA) Inc. [Member]
Shares Activity [Line Items]
Right to appoint number of directors			1
Common Stock [Member]
Shares Activity [Line Items]
Number of votes for each outstanding share of the Company					1
Shares issued per LLC interest			1

Stockholders' Equity (Schedule

Stockholders' Equity (Schedule of Accumulated Other Comprehensive Loss) (Details) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2016	Mar. 31, 2015
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	[1]	$ 3,202,442
Translation adjustment	[2],[3]	3,563	$ (4,051)
Balance		3,137,062
Translation adjustment, taxes		$ (1,500)	1,700
IMTT [Member] | Quebec Marine Terminal [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Equity interest acquired		33.30%
Post-Retirement Benefit Plans, net of taxes
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance		$ (14,788)	(18,837)
Translation adjustment		0	0
Purchase of noncontrolling interest	[4]	0
Balance		(14,788)	(18,837)
Translation Adjustment, net of taxes
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	[3]	(14,530)	(4,859)
Translation adjustment	[3]	3,563	(4,051)
Purchase of noncontrolling interest	[3],[4]	0
Balance	[3]	(10,967)	(8,910)
Total Accumulated Other Comprehensive Loss, Net of Taxes
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance		(29,318)	(23,696)
Translation adjustment		3,563	(4,051)
Purchase of noncontrolling interest	[4]	0
Balance		(25,755)	(27,747)
Accumulated Other Comprehensive Loss Attributable to Noncontrolling Interest [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance		6,023	2,146
Translation adjustment		(1,434)	1,626
Purchase of noncontrolling interest	[4]	(4,589)
Balance		0	$ 3,772
Accumulated Other Comprehensive Loss Attributable to Noncontrolling Interest [Member] | IMTT [Member] | Quebec Marine Terminal [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Purchase of noncontrolling interest		(4,600)
Total Stockholders' Accumulated Other Comprehensive Loss, Net of Taxes
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance		(23,295)	$ (21,550)
Translation adjustment		2,129	(2,425)
Purchase of noncontrolling interest	[4]	(4,589)
Balance		$ (25,755)	$ (23,975)
[1]	Conformed to current period presentation. See Note 2, "Basis of Presentation", for Recently Issued Accounting Standards adopted in the quarter ended March 31, 2016.
[2]	On March 31, 2016, IMTT acquired the remaining 33.3% interest in its Quebec terminal that it did not previously own. As part of this transaction, the translation adjustment of $4.6 million, net of taxes, was reclassified from noncontrolling interests to stockholders’ accumulated other comprehensive loss. See Note 8, “Stockholders’ Equity”, for disclosures on accumulated other comprehensive loss.
[3]	Translation adjustment is presented net of tax expense of $1.5 million and tax benefit of $1.7 million for the quarters ended March 31, 2016 and 2015, respectively.
[4]	On March 31, 2016, IMTT acquired the remaining 33.3% interest in its Quebec terminal that it did not previously own. As part of this transaction, the translation adjustment of $4.6 million, net of taxes, was reclassified from noncontrolling interests to stockholders’ accumulated other comprehensive loss.

Reportable Segments (Narrative)

Reportable Segments (Narrative) (Details)	3 Months Ended
	Mar. 31, 2016ItemMW	Mar. 31, 2015MW
Segment Reporting Information [Line Items]
Number of reportable segments	4
Maximum [Member]
Segment Reporting Information [Line Items]
Life of Purchase Power Agreements	25 years
Minimum [Member]
Segment Reporting Information [Line Items]
Life of Purchase Power Agreements	20 years
Canada- IMTT [Member]
Segment Reporting Information [Line Items]
Number of marine terminals | Item	2
Canada- IMTT [Member] | Quebec Marine Terminal [Member]
Segment Reporting Information [Line Items]
Number of marine terminals	1
Canada- IMTT [Member] | Newfoundland [Member] | Partially Owned [Member]
Segment Reporting Information [Line Items]
Number of marine terminals	1
Atlantic Aviation [Member]
Segment Reporting Information [Line Items]
Number of Airport Locations | Item	68
Contracted Power and Energy Businesses [Member]
Segment Reporting Information [Line Items]
Electricity generating capacity | MW	260
Number of solar projects	6
Number of wind power generation facilities	2
United States- IMTT [Member]
Segment Reporting Information [Line Items]
Number of marine terminals	10
Bayonne Energy Center [Member]
Segment Reporting Information [Line Items]
Electricity generating capacity | MW		512
Equity interest acquired		100.00%
Percentage of contracted tolling agreement		62.50%

Reportable Segments (Schedule o

Reportable Segments (Schedule of Revenue From External Customers) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Segment Reporting Information [Line Items]
Service revenue	$ 312,241	$ 326,002
Product revenue	84,146	72,496
Total revenue	396,387	398,498
IMTT [Member]
Segment Reporting Information [Line Items]
Service revenue	135,425	138,061
Product revenue	0	0
Total revenue	135,425	138,061
Atlantic Aviation [Member]
Segment Reporting Information [Line Items]
Service revenue	177,988	187,941
Product revenue	0	0
Total revenue	177,988	187,941
Contracted Power and Energy Businesses [Member]
Segment Reporting Information [Line Items]
Service revenue	0	0
Product revenue	30,179	11,832
Total revenue	30,179	11,832
Hawaii Gas Business [Member]
Segment Reporting Information [Line Items]
Service revenue	0	0
Product revenue	53,967	60,664
Total revenue	53,967	$ 60,664
Intersegment Revenue [Member]
Segment Reporting Information [Line Items]
Service revenue	(1,172)
Product revenue	0
Total revenue	$ (1,172)

Reportable Segments (Schedule49

Reportable Segments (Schedule of EBITDA for Reportable Segments) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Segment Reporting Information [Line Items]
Net income (loss)	$ 22,355	$ (89,002)
Provision (benefit) for income taxes	15,167	(55,333)
Depreciation	53,221	57,422
Amortization of intangibles	17,787	47,971
Other non-cash expense (income)	1,293	1,431
Total Reportable Segments [Member]
Segment Reporting Information [Line Items]
Net income (loss)	32,600	15,013
Interest expense, net	53,457	28,272
Provision (benefit) for income taxes	24,578	12,114
Depreciation	53,221	57,422
Amortization of intangibles	17,787	47,971
Other non-cash expense (income)	(4,401)	(2,790)
EBITDA excluding non-cash items	177,242	158,002
IMTT [Member]
Segment Reporting Information [Line Items]
Net income (loss)	16,158	20,274
Interest expense, net	19,871	6,906
Provision (benefit) for income taxes	11,229	14,089
Depreciation	29,865	33,115
Amortization of intangibles	2,756	2,764
Other non-cash expense (income)	2,333	1,256
EBITDA excluding non-cash items	82,212	78,404
Atlantic Aviation [Member]
Segment Reporting Information [Line Items]
Net income (loss)	14,358	(10,577)
Interest expense, net	13,314	13,085
Provision (benefit) for income taxes	9,742	(6,689)
Depreciation	8,373	14,999
Amortization of intangibles	13,818	44,716
Other non-cash expense (income)	(74)	725
EBITDA excluding non-cash items	59,531	56,259
Contracted Power and Energy Businesses [Member]
Segment Reporting Information [Line Items]
Net income (loss)	(6,985)	(3,539)
Interest expense, net	17,848	6,338
Provision (benefit) for income taxes	(2,304)	(818)
Depreciation	12,739	7,266
Amortization of intangibles	1,107	179
Other non-cash expense (income)	(4,258)	(2,941)
EBITDA excluding non-cash items	18,147	6,485
Hawaii Gas Business [Member]
Segment Reporting Information [Line Items]
Net income (loss)	9,069	8,855
Interest expense, net	2,424	1,943
Provision (benefit) for income taxes	5,911	5,532
Depreciation	2,244	2,042
Amortization of intangibles	106	312
Other non-cash expense (income)	(2,402)	(1,830)
EBITDA excluding non-cash items	$ 17,352	$ 16,854

Reportable Segments (Schedule50

Reportable Segments (Schedule of Reconciliation of EBITDA for Reportable Segments) (Details) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2016	Mar. 31, 2015
Segment Reporting Information [Line Items]
Interest income		$ 33	$ 6
Interest expense	[1]	(56,895)	(31,521)
Depreciation		(53,221)	(57,422)
Amortization of intangibles		(17,787)	(47,971)
Selling, general and administrative expenses		(72,284)	(70,653)
Fees to Manager - related party		(14,796)	(165,273)
Other income, net		3,015	1,577
Total consolidated net income (loss) before income taxes		35,343	(145,848)
Total Reportable Segments [Member]
Segment Reporting Information [Line Items]
Total reportable segments EBITDA excluding non-cash items		177,242	158,002
Interest income		33	6
Interest expense		(56,895)	(31,521)
Depreciation		(53,221)	(57,422)
Amortization of intangibles		(17,787)	(47,971)
Fees to Manager - related party		(14,796)	(165,273)
Other income, net		2,222	1,277
Total consolidated net income (loss) before income taxes		35,343	(145,848)
Total Reportable Segments [Member] | Corporate and Other [Member]
Segment Reporting Information [Line Items]
Selling, general and administrative expenses		$ (1,455)	$ (2,946)
[1]	Interest expense includes losses on derivative instruments of $32.2 million and $12.9 million for the quarters ended March 31, 2016 and 2015, respectively.

Reportable Segments (Schedule51

Reportable Segments (Schedule of Capital Expenditures) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Segment Reporting Information [Line Items]
Capital expenditures	$ 62,593	$ 25,481
IMTT [Member]
Segment Reporting Information [Line Items]
Capital expenditures	23,408	11,869
Atlantic Aviation [Member]
Segment Reporting Information [Line Items]
Capital expenditures	21,271	8,223
Contracted Power and Energy Businesses [Member]
Segment Reporting Information [Line Items]
Capital expenditures	5,840	0
Hawaii Gas Business [Member]
Segment Reporting Information [Line Items]
Capital expenditures	$ 12,074	$ 5,389

Reportable Segments (Schedule52

Reportable Segments (Schedule of Assets of Reportable Segments) (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Segment Reporting Information [Line Items]
Property, Equipment, Land and Leasehold Improvements, net	$ 4,128,510	$ 4,116,163	[1]
Goodwill	2,017,891	2,017,211	[1]
Total Assets	7,283,416	7,308,804	[1]
Operating Segments [Member]
Segment Reporting Information [Line Items]
Total Assets	7,274,076	7,299,904	[1]
IMTT [Member]
Segment Reporting Information [Line Items]
Property, Equipment, Land and Leasehold Improvements, net	2,232,091	2,238,654
Goodwill	1,411,269	1,410,668
IMTT [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Total Assets	3,977,694	4,000,079	[1]
Atlantic Aviation [Member]
Segment Reporting Information [Line Items]
Property, Equipment, Land and Leasehold Improvements, net	404,456	390,188
Goodwill	464,801	464,722
Atlantic Aviation [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Total Assets	1,506,657	1,502,512	[1]
Contracted Power and Energy Businesses [Member]
Segment Reporting Information [Line Items]
Property, Equipment, Land and Leasehold Improvements, net	1,270,082	1,274,557
Goodwill	21,628	21,628
Contracted Power and Energy Businesses [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Total Assets	1,396,693	1,411,233	[1]
Hawaii Gas Business [Member]
Segment Reporting Information [Line Items]
Property, Equipment, Land and Leasehold Improvements, net	221,881	212,764
Goodwill	120,193	120,193
Hawaii Gas Business [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Total Assets	$ 393,032	$ 386,080	[1]
[1]	Conformed to current period presentation. See Note 2, "Basis of Presentation", for Recently Issued Accounting Standards adopted in the quarter ended March 31, 2016.

Reportable Segments (Schedule53

Reportable Segments (Schedule of Reconciliation of Assets of Reportable Segments) (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015	[1]
Segment Reporting Information [Line Items]
Total assets	$ 7,283,416	$ 7,308,804
Total Reportable Segments [Member]
Segment Reporting Information [Line Items]
Total assets	7,274,076	7,299,904
Corporate and Other [Member]
Segment Reporting Information [Line Items]
Total assets	$ 9,340	$ 8,900
[1]	Conformed to current period presentation. See Note 2, "Basis of Presentation", for Recently Issued Accounting Standards adopted in the quarter ended March 31, 2016.

Related Party Transactions (Nar

Related Party Transactions (Narrative) (Details)	1 Months Ended			3 Months Ended								9 Months Ended
	Jul. 31, 2016USD ($)	Jul. 31, 2015USD ($)	Mar. 31, 2015USD ($)shares	Mar. 31, 2016USD ($)$ / sharessharesbbl		Dec. 31, 2015USD ($)$ / sharesshares		Sep. 30, 2015USD ($)shares	Jun. 30, 2015USD ($)sharesbbl		Mar. 31, 2015USD ($)shares	Mar. 31, 2016USD ($)$ / sharesshares	Apr. 29, 2016$ / shares	Feb. 10, 2016USD ($)	Jun. 24, 2015USD ($)$ / shares	May. 21, 2015$ / sharesshares	Dec. 31, 2014USD ($)	Jul. 31, 2014USD ($)
Related Party Transaction [Line Items]
Special stock, issued | shares				100								100
Common stock, par value per share | $ / shares				$ 0.001		$ 0.001						$ 0.001	$ 0.001			$ 0.001
Equity offering, shares | shares | shares			6,109,375
Interest paid				$ 25,176,000							$ 26,968,000
Accrued expenses				79,359,000		$ 78,527,000	[1]					$ 79,359,000
Cash and cash equivalents			$ 101,312,000	$ 22,502,000		22,394,000	[1]				101,312,000	$ 22,502,000					$ 48,014,000
Number of employees				2								2
Atlantic Aviation [Member] | Revolving Credit Facility [Member]
Related Party Transaction [Line Items]
Borrowing capacity				$ 70,000,000								$ 70,000,000
MIC Corporate [Member] | Revolving Credit Facility [Member]
Related Party Transaction [Line Items]
Borrowing capacity						410,000,000												$ 250,000,000
Hawaii Gas Business [Member] | Chief Executive Officer [Member]
Related Party Transaction [Line Items]
Cash and cash equivalents				100,000		100,000						100,000
Hawaii Gas Business [Member] | Revolving Credit Facility [Member]
Related Party Transaction [Line Items]
Borrowing capacity				60,000,000		60,000,000						60,000,000		$ 60,000,000
Hawaii Gas Business [Member] | Revolving Credit Facility [Member] | Chief Executive Officer [Member]
Related Party Transaction [Line Items]
Borrowing capacity						8,600,000								6,400,000
Commitment fee				4,000
Hawaii Gas Business [Member] | Term Loan Facility [Member]
Related Party Transaction [Line Items]
Borrowing capacity				80,000,000		80,000,000						80,000,000		80,000,000
Hawaii Gas Business [Member] | Term Loan Facility [Member] | Chief Executive Officer [Member]
Related Party Transaction [Line Items]
Borrowing capacity						$ 11,400,000								$ 8,600,000
Debt Instrument increase accrued Interest				60,000
Debt Related Commitment Fees and Debt Issuance Costs				32,000
Interest Payable				$ 11,000								$ 11,000
At the Market [Member]
Related Party Transaction [Line Items]
Common stock, par value per share | $ / shares															$ 0.001
Equity offering, shares | shares | shares												37,000
At the Market [Member] | Maximum [Member]
Related Party Transaction [Line Items]
Aggregate gross offering price															$ 400,000,000
Macquarie Infrastructure Management (USA) Inc. [Member]
Related Party Transaction [Line Items]
Shares of the Company held by Manager, a related party | shares				5,739,552		5,506,369						5,739,552
Base management fees to be settled/settled in shares				$ 14,796,000		$ 17,009,000		$ 18,118,000	$ 18,918,000		16,545,000
Performance fees to be settled/settled in shares and cash				0		$ 0		$ 0	$ 135,641,000		148,728,000
Reimbursement of out-of-pocket expenses				$ 71,000							$ 88,000
Special stock, issued | shares																100
Performance Fee To Manager Related Party Settled In Cash		$ 67,800
Number Of Shares Issued To Manager For Base Management Performance Fees | shares				234,179	[2]	227,733		226,914	223,827	[3]	2,068,038
Macquarie Infrastructure Management (USA) Inc. [Member] | deferred until July 2016 [Member] | Scenario, Forecast [Member]
Related Party Transaction [Line Items]
Performance fee, settlement which is deferred	$ 67,800,000
Macquarie Infrastructure Management (USA) Inc. [Member] | Special Stock [Member]
Related Party Transaction [Line Items]
Right to appoint number of directors																1
MENAT [Member] | United States- IMTT [Member]
Related Party Transaction [Line Items]
Capacity Leased To Related Party				823,000					154,000
Capacity Leased Expired To Related Party | bbl									56,000
Revenue from related party				$ 1,200,000
Accounts Receivable, Net, Total				$ 44,000								$ 44,000
Aggregate capacity leased to Related Party | bbl				921,000
MIHI LLC [Member] | MIC Corporate [Member] | Revolving Credit Facility [Member]
Related Party Transaction [Line Items]
Borrowing capacity						$ 50,000,000
Commitment fee				$ 34,000							$ 34,000
Interest paid				6,000
Accrued expenses				35,000		$ 35,000						35,000
Macquarie Capital Markets Canada Ltd [Member] | Atlantic Aviation [Member]
Related Party Transaction [Line Items]
Revenue from related party											18,000
MCUSA [Member] | Equity Offering [Member] | MIC Corporate [Member]
Related Party Transaction [Line Items]
Advisory fees			$ 2,300,000
MEF [Member] | Atlantic Aviation [Member]
Related Party Transaction [Line Items]
Lease expense on copiers											2,000
MBL [Member] | Atlantic Aviation [Member] | Revolving Credit Facility [Member]
Related Party Transaction [Line Items]
Borrowing capacity				15,700,000								$ 15,700,000
Commitment fee				$ 29,000							$ 28,000
[1]	Conformed to current period presentation. See Note 2, "Basis of Presentation", for Recently Issued Accounting Standards adopted in the quarter ended March 31, 2016.
[2]	The Manager elected to reinvest all of the monthly base management fees for the first quarter of 2016 in shares. The Company issued 234,179 shares for the quarter ended March 31, 2016, including 78,015 shares that were issued in April 2016 for the March 2016 monthly base management fee.
[3]	In July 2015, the Board requested, and the Manager agreed, that $67.8 million of the performance fee for the quarter ended June 30, 2015 be settled in cash in July 2015 to minimize dilution. The remaining $67.8 million obligation was deferred until July 2016.

Related Party Transactions (Sch

Related Party Transactions (Schedule of Dividends Paid to Manager) (Details) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2016USD ($)$ / shares
Dividend One [Member]
Dividends Payable [Line Items]
Declared	Feb. 17, 2015
Period Covered	Fourth quarter 2014
$ per Share | $ / shares	$ 1.02
Record Date	Mar. 2, 2015
Payable Date	Mar. 5, 2015
Cash Paid to Manager | $	$ 4,905
Dividend Two [Member]
Dividends Payable [Line Items]
Declared	Apr. 30, 2015
Period Covered	First quarter 2015
$ per Share | $ / shares	$ 1.07
Record Date	May 14, 2015
Payable Date	May 19, 2015
Cash Paid to Manager | $	$ 7,281
Dividend Three [Member]
Dividends Payable [Line Items]
Declared	Jul. 30, 2015
Period Covered	Second quarter 2015
$ per Share | $ / shares	$ 1.11
Record Date	Aug. 13, 2015
Payable Date	Aug. 18, 2015
Cash Paid to Manager | $	$ 5,693
Dividend Four [Member]
Dividends Payable [Line Items]
Declared	Oct. 29, 2015
Period Covered	Third quarter 2015
$ per Share | $ / shares	$ 1.13
Record Date	Nov. 13, 2015
Payable Date	Nov. 18, 2015
Cash Paid to Manager | $	$ 6,052
Dividend Five [Member]
Dividends Payable [Line Items]
Declared	Feb. 18, 2016
Period Covered	Fourth quarter 2015
$ per Share | $ / shares	$ 1.15
Record Date	Mar. 3, 2016
Payable Date	Mar. 8, 2016
Cash Paid to Manager | $	$ 6,510
Dividend Six [Member]
Dividends Payable [Line Items]
Declared	Apr. 28, 2016
Period Covered	First quarter 2016
$ per Share | $ / shares	$ 1.20
Record Date	May 12, 2016
Payable Date	May 17, 2016
Cash Paid to Manager | $		[1]
[1]	The amount of dividend payable to the Manager for the first quarter of 2016 will be determined on May 12, 2016, the record date.

Related Party Transactions (S56

Related Party Transactions (Schedule of Base Management Fees and Performance Fees) (Details) - Macquarie Infrastructure Management (USA) Inc. [Member] - USD ($)	1 Months Ended		3 Months Ended
	Apr. 30, 2016	Jul. 31, 2015	Mar. 31, 2016		Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015		Mar. 31, 2015
Common Stock Equity [Line Items]
Base management fees to be settled/settled in shares			$ 14,796,000		$ 17,009,000	$ 18,118,000	$ 18,918,000		$ 16,545,000
Performance fees to be settled/settled in shares and cash			$ 0		$ 0	$ 0	$ 135,641,000		$ 148,728,000
Shares Issued			234,179	[1]	227,733	226,914	223,827	[2]	2,068,038
Performance fee settled in cash		$ 67,800
Subsequent Event [Member]
Common Stock Equity [Line Items]
Shares issued subsequent, for fees to manager	78,015
[1]	The Manager elected to reinvest all of the monthly base management fees for the first quarter of 2016 in shares. The Company issued 234,179 shares for the quarter ended March 31, 2016, including 78,015 shares that were issued in April 2016 for the March 2016 monthly base management fee.
[2]	In July 2015, the Board requested, and the Manager agreed, that $67.8 million of the performance fee for the quarter ended June 30, 2015 be settled in cash in July 2015 to minimize dilution. The remaining $67.8 million obligation was deferred until July 2016.

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details)	3 Months Ended
	Mar. 31, 2016USD ($)
Components of Income Taxes [Line Items]
Change in valuation allowance	$ 550,000
Earliest Tax [Member]
Components of Income Taxes [Line Items]
Net operating loss carry-forwards, expiration date	Dec. 31, 2021
Latest Tax [Member]
Components of Income Taxes [Line Items]
Net operating loss carry-forwards, expiration date	Dec. 31, 2035

Subsequent Events (Narrative) (

Subsequent Events (Narrative) (Details) - Subsequent Event [Member]	1 Months Ended
	Apr. 28, 2016$ / shares
Subsequent Event [Line Items]
Cash dividend declared, date declared	Apr. 28, 2016
Cash dividend declared per share	$ 1.20
Cash dividend declared, date to be paid	May 17, 2016
Cash dividend declared, date of record	May 12, 2016