Macquarie Infrastructure 10-Q 2 Aug 17 2017 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - $ / shares	6 Months Ended
	Jun. 30, 2017	Aug. 01, 2017	Dec. 31, 2016
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q2
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		82,667,915
Common Stock, Par or Stated Value Per Share	$ 0.001	$ 0.001	$ 0.001

CONSOLIDATED CONDENSED BALANCE

CONSOLIDATED CONDENSED BALANCE SHEETS - USD ($) $ in Thousands		Jun. 30, 2017	Dec. 31, 2016
Current assets:
Cash and cash equivalents		$ 28,873	$ 44,767
Restricted cash		23,368	16,420
Accounts receivable, less allowance for doubtful accounts of $871 and $1,434, respectively		133,562	124,846
Inventories		35,474	31,461
Prepaid expenses		16,406	14,561
Fair value of derivative instruments		4,902	5,514
Other current assets		9,433	7,099
Total current assets		252,018	244,668
Property, equipment, land and leasehold improvements, net		4,408,254	4,346,536
Investment in unconsolidated business		9,192	8,835
Goodwill		2,031,720	2,024,409
Intangible assets, net		884,112	888,971
Fair value of derivative instruments		19,432	30,781
Other noncurrent assets		30,183	15,053
Total assets		7,634,911	7,559,253
Current liabilities:
Due to Manager - related party		6,200	6,594
Accounts payable		60,200	69,566
Accrued expenses		91,390	83,734
Current portion of long-term debt		45,544	40,016
Fair value of derivative instruments		5,527	9,297
Other current liabilities		39,783	41,802
Total current liabilities		248,644	251,009
Long-term debt, net of current portion		3,205,733	3,039,966
Deferred income taxes		930,565	896,116
Fair value of derivative instruments		6,157	5,966
Tolling agreements - noncurrent		56,484	60,373
Other noncurrent liabilities		155,812	158,289
Total liabilities		4,603,395	4,411,719
Commitments and contingencies
Stockholders' equity:
Common stock ($0.001 par value; 500,000,000 authorized; 82,589,776 shares issued and outstanding at June 30, 2017 and 82,047,526 shares issued and outstanding at December 31, 2016)	[1]	83	82
Additional paid in capital		1,915,626	2,089,407
Accumulated other comprehensive loss		(27,863)	(28,960)
Retained earnings		954,400	892,365
Total stockholders’ equity		2,842,246	2,952,894
Noncontrolling interests		189,270	194,640
Total equity		3,031,516	3,147,534
Total liabilities and equity		$ 7,634,911	$ 7,559,253
[1]	The Company is authorized to issue 100,000,000 shares of preferred stock, par value $0.001 per share. At June 30, 2017 and December 31, 2016, no preferred stock were issued or outstanding. The Company has 100 shares of special stock issued and outstanding to its Manager at June 30, 2017 and December 31, 2016.

CONSOLIDATED CONDENSED BALANCE3

CONSOLIDATED CONDENSED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Accounts receivable, allowance for doubtful accounts	$ 871	$ 1,434
Preferred stock, par value per share	$ 0.001	$ 0.001
Preferred stock, authorized	100,000,000	100,000,000
Preferred stock, issued	0	0
Preferred stock, outstanding	0	0
Special stock, issued	100	100
Special stock, outstanding	100	100
Common stock, par value per share	$ 0.001	$ 0.001
Shares, authorized	500,000,000	500,000,000
Shares, issued	82,589,776	82,047,526
Shares, outstanding	82,589,776	82,047,526

CONSOLIDATED CONDENSED STATEMEN

CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Revenue
Service revenue		$ 345,045	$ 306,221	$ 708,849	$ 618,462
Product revenue		93,945	91,358	181,598	175,504
Total revenue		438,990	397,579	890,447	793,966
Costs and expenses
Cost of services		147,114	120,857	301,820	237,320
Cost of product sales		40,249	35,018	87,474	68,078
Selling, general and administrative		82,967	72,430	159,919	144,714
Fees to Manager - related party		18,433	16,392	36,656	31,188
Depreciation		57,063	59,662	114,744	112,883
Amortization of intangibles		15,898	16,713	33,591	34,500
Total operating expenses		361,724	321,072	734,204	628,683
Operating income		77,266	76,507	156,243	165,283
Other income (expense)
Interest income		41	25	75	58
Interest expense	[1]	(35,356)	(39,502)	(60,838)	(96,397)
Other income, net		1,738	271	2,920	3,700
Net income before income taxes		43,689	37,301	98,400	72,644
Provision for income taxes		(17,664)	(16,220)	(39,737)	(31,387)
Net income		26,025	21,081	58,663	41,257
Less: net income (loss) attributable to noncontrolling interests		5	1,889	(3,372)	(290)
Net income attributable to MIC		$ 26,020	$ 19,192	$ 62,035	$ 41,547
Basic income per share attributable to MIC		$ 0.32	$ 0.24	$ 0.75	$ 0.52
Weighted average number of shares outstanding: basic		82,430,324	80,369,575	82,285,053	80,241,293
Diluted income per share attributable to MIC		$ 0.32	$ 0.24	$ 0.75	$ 0.51
Weighted average number of shares outstanding: diluted		82,439,840	81,323,294	82,294,608	81,194,505
Cash dividends declared per share		$ 1.38	$ 1.25	$ 2.70	$ 2.45
[1]	Interest expense includes losses on derivative instruments of $7.7 million and $6.8 million for the quarter and six months ended June 30, 2017, respectively. For the quarter and six months ended June 30, 2016, interest expense includes losses on derivative instruments of $14.9 million and $46.7 million, respectively.

CONSOLIDATED CONDENSED STATEME5

CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS (Parenthetical) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Interest Expense [Member]
Losses on derivative instruments	$ (7.7)	$ (14.9)	$ (6.8)	$ (46.7)

CONSOLIDATED CONDENSED STATEME6

CONSOLIDATED CONDENSED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Net income		$ 26,025	$ 21,081	$ 58,663	$ 41,257
Other comprehensive income (loss), net of taxes:
Translation adjustment	[1],[2]	1,097	(2)	1,097	3,561
Other comprehensive income (loss)		1,097	(2)	1,097	3,561
Comprehensive income		27,122	21,079	59,760	44,818
Less: comprehensive income (loss) attributable to noncontrolling interests	[1]	5	1,889	(3,372)	1,144
Comprehensive income attributable to MIC		$ 27,117	$ 19,190	$ 63,132	$ 43,674
[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 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 $755,000 for the quarter and six months ended June 30, 2017. For the quarter and six months ended June 30, 2016, translation adjustment is presented net of tax benefit of $2,000 and tax expense of $1.5 million, respectively.

CONSOLIDATED CONDENSED STATEME7

CONSOLIDATED CONDENSED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Mar. 31, 2016	Jun. 30, 2017	Jun. 30, 2016
Translation adjustment, taxes	$ (755)	$ 2		$ (755)	$ (1,500)
Accumulated Other Comprehensive Loss Attributable to Noncontrolling Interest [Member]
Purchase of noncontrolling interest in Subsidiary					$ (4,589)	[1]
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 accumulated other comprehensive loss.

CONSOLIDATED CONDENSED STATEME8

CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Operating activities
Net income	$ 58,663	$ 41,257
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization of property and equipment	114,744	112,883
Amortization of intangible assets	33,591	34,500
Amortization of debt financing costs	4,301	5,249
Amortization of debt discount	1,495	0
Adjustments to derivative instruments	8,382	29,030
Fees to Manager- related party	36,656	31,188
Deferred taxes	33,398	27,219
Pension expense	4,321	4,395
Other non-cash income, net	(2,935)	(1,749)
Changes in other assets and liabilities, net of acquisitions:
Restricted cash	567	2,368
Accounts receivable	(7,871)	(1,788)
Inventories	(4,256)	(2,104)
Prepaid expenses and other current assets	(2,529)	9,498
Due to Manager - related party	(122)	90
Accounts payable and accrued expenses	(15,782)	(13,789)
Income taxes payable	(1,506)	1,393
Other, net	(11,913)	(1,722)
Net cash provided by operating activities	249,204	277,918
Investing activities
Acquisitions of businesses and investments, net of cash acquired	(66,321)	(16,613)
Purchases of property and equipment	(130,351)	(118,734)
Proceeds from insurance claim	0	7,235
Loan to project developer	(14,675)	0
Loan repayment from project developer	1,396	0
Change in restricted cash	(8,001)	0
Other, net	60	513
Net cash used in investing activities	(217,892)	(127,599)
Financing activities
Proceeds from long-term debt	264,500	251,000
Payment of long-term debt	(98,542)	(216,581)
Proceeds from the issuance of shares	5,321	1,323
Dividends paid to common stockholders	(216,508)	(188,608)
Contributions received from noncontrolling interests	0	15,431
Purchase of noncontrolling interest	0	(9,909)
Distributions paid to noncontrolling interests	(2,040)	(2,505)
Offering and equity raise costs paid	(182)	(149)
Debt financing costs paid	(447)	(1,203)
Change in restricted cash	557	2,096
Payment of capital lease obligations	(53)	(789)
Net cash used in financing activities	(47,394)	(149,894)
Effect of exchange rate changes on cash and cash equivalents	188	442
Net change in cash and cash equivalents	(15,894)	867
Cash and cash equivalents, beginning of period	44,767	22,394
Cash and cash equivalents, end of period	28,873	23,261
Non-cash investing and financing activities:
Accrued equity offering costs	44	260
Accrued financing costs	0	443
Accrued purchases of property and equipment	41,354	20,794
Issuance of shares to Manager	36,927	30,977
Issuance of shares to independent directors	681	750
Conversion of convertible senior notes to shares	17	4
Taxes paid, net	7,845	2,766
Interest paid	$ 54,601	$ 55,956

Organization and Description of

Organization and Description of Business	6 Months Ended
	Jun. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Description of Business	1. Organization and Description of Business Macquarie Infrastructure Corporation is a Delaware corporation formed on May 21, 2015. MIC’s predecessor, Macquarie Infrastructure Company LLC, was formed on April 13, 2004. Macquarie Infrastructure Corporation, both on an individual entity basis and together with its consolidated subsidiaries, is referred to in these financial statements as the “Company” or “MIC”. MIC is externally managed by Macquarie Infrastructure Management (USA) Inc. (the Manager), pursuant to the terms of a Management Services Agreement, that is subject to the oversight and supervision of the Board of Directors. The majority of the members of the Board of Directors have no affiliation with Macquarie. The Manager is a member of the Macquarie Group of companies comprising the Macquarie Group Limited and its subsidiaries and affiliates worldwide. Macquarie Group Limited is headquartered in Australia and is listed on the Australian Stock Exchange. The Company owns its businesses through its direct wholly-owned subsidiary MIC Ohana Corporation, the successor to Macquarie Infrastructure Company Inc. The Company owns and operates a diversified portfolio of businesses that provide services to other businesses, government agencies and individuals primarily in the U.S. The businesses it owns and operates are organized into four segments: • International-Matex Tank Terminals (IMTT): • Atlantic Aviation: • Contracted Power (CP): • MIC Hawaii:

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2017
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, 2016 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, 2016 included in the Company’s Annual Report on Form 10-K, as filed with the SEC on February 21, 2017. Operating results for the quarter and six months ended June 30, 2017 are not necessarily indicative of the results that may be expected for the year ending December 31, 2017 or for any future interim periods. Use of Estimates The preparation of unaudited consolidated condensed financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures related thereto at the date of the unaudited consolidated condensed financial statements and the reported amounts of revenue and expenses during the reporting period. Management evaluates these estimates and assumptions on an ongoing basis. Making estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the unaudited interim consolidated condensed financial statements, which management considered in formulating its estimate, could change in the near term due to one or more future confirming events. Accordingly, the actual results could differ significantly from estimates. Recently Issued Accounting Standards On January 26, 2017, the FASB issued ASU No. 2017-04, Intangibles — Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment On January 5, 2017, the FASB issued ASU No. 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business On November 17, 2016, the FASB issued ASU No. 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash On February 25, 2016, FASB issued ASU No. 2016-02, Leases (Topic 842) The Company also serves as a lessor primarily through operating leases. The accounting for lessors is not expected to fundamentally change except for changes to conform and align existing guidance to the lessee guidance under ASU 2016-02, as well as to the new revenue recognition guidance in ASU 2014-09. ASU 2016-02 is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018. Early adoption is allowed. The standard is to be applied using a modified retrospective approach. The Company has begun evaluating and planning for the adoption and implementation of ASU 2016-02, including assessing the overall impact. ASU 2016-02 will have a material impact on the Company’s consolidated balance sheets; however, the full impact to the overall financial statements has not yet been determined. The impact on the Company’s results of operations is being evaluated. The impact of this ASU is non-cash in nature and will not affect the Company’s cash position. In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606) • ASU 2015-14 (Issued August 2015) — Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date; • ASU 2016-08 (Issued March 2016) — Principal versus Agent Consideration (Reporting Revenue Gross versus Net) • ASU 2016-10 (Issued April 2016) — Identifying Performance Obligations and Licensing • ASU 2016-12 (Issued May 2016) — Narrow-Scope Improvements and Practical Expedients • ASU 2016-20 (Issued December 2016) — Technical Corrections and Improvements to Topic 606, Revenue from Contracts with Customers With the deferral, the new standard is effective for the Company on January 1, 2018. There are two adoption methods available for implementation of the standard related to the recognition of revenue from contracts with customers. Under one method, the new guidance is applied retrospectively to contracts for each reporting period presented, subject to allowable practical expedients. Under the other method, referred to as the modified retrospective method, the new guidance is applied only to the most current period presented, recognizing the cumulative effect of the change as an adjustment to the beginning balance of retained earnings, and also requires additional disclosures comparing the results to the previous guidance. The Company is going to adopt this standard using the modified retrospective method and is currently evaluating the impact that this standard will have on the Company’s consolidated financial statements, and the changes to its systems, processes and internal controls to meet the reporting and disclosure requirements. Upon initial evaluation, the Company believes key changes in the standard that impact the Company’s revenue recognition relate to the allocation of contract revenue between various services and equipment, and the timing of when those revenues are recognized. The Company is still in the process of evaluating the magnitude of these impacts and other areas of the standard and the effect on the Company’s financial statements and related disclosures. In addition, the Company currently includes sales, excise and value-added taxes related to sales transactions within revenue on the consolidated statements of operations. Upon adoption of ASU 2014-09, the Company will exclude sales-based taxes collected on behalf of third parties from service and product revenue and include these amounts in cost of services and product sales. The result will be a reclassification on the consolidated statements of operations. ASU 2014-09 also introduces new qualitative and quantitative disclosure requirements about contracts with customers including revenue and impairments recognized, disaggregation of revenue and information about contract balance and performance obligations. Information is required about significant judgments and changes in judgments in determining the timing of satisfaction of performance obligations. The Company is in process of evaluating what additional information will be disclosed, but expects the overall level of disclosures related to revenue recognition to increase. On July 22, 2015, the FASB issued ASU No. 2015-11, Inventory (Topic 330): Simplifying the Measurement of Inventory,

Income per Share

Income per Share	6 Months Ended
	Jun. 30, 2017
Earnings Per Share [Abstract]
Income per Share	3. Income per Share Following is a reconciliation of the basic and diluted income per share computations ($ in thousands, except share and per share data): Quarter Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 Numerator: Net income attributable to MIC $ 26,020 $ 19,192 $ 62,035 $ 41,547 Diluted net income attributable to MIC $ 26,020 $ 19,192 $ 62,035 $ 41,547 Denominator: Weighted average number of shares outstanding: basic 82,430,324 80,369,575 82,285,053 80,241,293 Dilutive effect of restricted stock unit grants 9,516 9,673 9,555 9,166 Dilutive effect of fees to Manager-related party — 944,046 — 944,046 Weighted average number of shares outstanding: diluted 82,439,840 81,323,294 82,294,608 81,194,505 Income per share: Basic income per share attributable to MIC $ 0.32 $ 0.24 $ 0.75 $ 0.52 Diluted income per share attributable to MIC $ 0.32 $ 0.24 $ 0.75 $ 0.51 The effect of potentially dilutive shares for the quarter and six months ended June 30, 2017 is calculated assuming that the restricted stock unit grants totaling 9,435 provided to the independent directors on May 17, 2017, which will vest during the second quarter of 2018, and the 8,604 restricted stock units (net of forfeitures of 2,151 restricted stock unit grants forfeited on September 30, 2016) provided to the independent directors on May 18, 2016 and restricted stock units grants of 991 provided to a new independent director on November 1, 2016, which vested during the second quarter of 2017, had been fully converted to shares on those grant dates. The 2.875% Convertible Senior Notes due July 2019 and the 2.00% Convertible Senior Notes due October 2023 were anti-dilutive for the quarter and six months ended June 30, 2017. The effect of potentially dilutive shares for the quarter and six months ended June 30, 2016 is calculated assuming that (i) the restricted stock unit grants totaling 10,755 provided to the independent directors on May 18, 2016 (of which 2,151 restricted stock unit grants were subsequently forfeited on September 30, 2016), which vested during the second quarter of 2017, and the 8,660 restricted stock units provided to the independent directors on June 18, 2015, which vested during the second quarter of 2016, had been fully converted to shares on these grant dates and (ii) the $67.8 million of the performance fee for the quarter ended June 30, 2015, which was reinvested in shares by the Manager on August 1, 2016, had been reinvested in shares by the Manager in July 2015. The 2.875% Convertible Senior Notes due July 2019 were anti-dilutive for the quarter and six months ended June 30, 2016. The following represents the weighted average potential dilutive shares of common stock that were excluded from the diluted income per share calculation: Quarter Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 2.875% Convertible senior notes due July 2019 4,259,535 4,165,364 4,241,059 4,152,307 2.00% Convertible senior notes due October 2023 3,596,901 — 3,596,901 — Total 7,856,436 4,165,364 7,837,960 4,152,307

Property, Equipment, Land and L

Property, Equipment, Land and Leasehold Improvements	6 Months Ended
	Jun. 30, 2017
Property, Plant and Equipment [Abstract]
Property, Equipment, Land and Leasehold Improvements	4. Property, Equipment, Land and Leasehold Improvements Property, equipment, land and leasehold improvements at June 30, 2017 and December 31, 2016 consisted of the following ($ in thousands): June 30, December 31, Land $ 304,236 $ 304,240 Easements 131 131 Buildings 43,486 41,711 Leasehold and land improvements 720,288 673,122 Machinery and equipment 3,799,684 3,764,553 Furniture and fixtures 36,779 35,454 Construction in progress 322,176 233,184 5,226,780 5,052,395 Less: accumulated depreciation (818,526 ) (705,859 ) Property, equipment, land and leasehold improvements, net $ 4,408,254 $ 4,346,536

Intangible Assets

Intangible Assets	6 Months Ended
	Jun. 30, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets	5. Intangible Assets Intangible assets at June 30, 2017 and December 31, 2016 consisted of the following ($ in thousands): June 30, December 31, Contractual arrangements $ 941,228 $ 912,728 Non-compete agreements 10,014 10,014 Customer relationships 348,936 348,678 Leasehold rights 350 350 Trade names 16,091 16,091 Technology 8,760 8,760 1,325,379 1,296,621 Less: accumulated amortization (441,267 ) (407,650 ) Intangible assets, net $ 884,112 $ 888,971 The goodwill balance as of June 30, 2017 is comprised of the following ($ in thousands): Goodwill acquired in business combinations, net of disposals, at December 31, 2016 $ 2,149,894 Accumulated impairment charges (123,200 ) Other (2,285 ) Balance at December 31, 2016 2,024,409 Purchase accounting adjustments related to prior year acquisitions 75 Goodwill related to 2017 acquisition 6,996 Other 240 Balance at June 30, 2017 $ 2,031,720 The Company tests for goodwill impairment at the reporting unit level on an annual basis on October 1 st

Long-Term Debt

Long-Term Debt	6 Months Ended
	Jun. 30, 2017
Debt Disclosure [Abstract]
Long-Term Debt	6. Long-Term Debt June 30, December 31, IMTT $ 1,204,975 $ 1,140,975 Atlantic Aviation 565,067 449,691 CP 592,175 604,862 MIC Hawaii 200,013 200,744 MIC Corporate 728,208 726,730 Total 3,290,438 3,123,002 Current portion (45,544 ) (40,016 ) Long-term portion 3,244,894 3,082,986 Unamortized deferred financing costs (1) (39,161 ) (43,020 ) Long-term portion less unamortized debt discount and deferred financing costs $ 3,205,733 $ 3,039,966 (1) The weighted average remaining life of the deferred financing costs at June 30, 2017 was 5.9 years. The total undrawn capacity on the revolving credit facilities was $1.2 billion at June 30, 2017. MIC Corporate Senior Secured Revolving Credit Facility At June 30, 2017 and December 31, 2016, the senior secured revolving credit facility remained undrawn. From July 1, 2017 through August 1, 2017, the Company borrowed and subsequently repaid $5.0 million on its senior secured revolving credit facility for general corporate purposes. 2.875% Convertible Senior Notes due July 2019 At June 30, 2017 and December 31, 2016, the Company had $350.0 million aggregate principal outstanding on its five-year, 2.875% convertible senior notes due July 2019. At June 30, 2017, the fair value of these convertible senior notes was approximately $387.2 million. These convertible senior notes fall within Level 1 of the fair value hierarchy. On July 15, 2017, the Company increased the conversion rate to 12.2946 shares of common stock per $1,000 principal amount. The adjustment was made, in accordance with the indenture governing the senior notes, on the anniversary of the convertible senior notes issuance and reflects the impact of dividends paid by the Company. 2.00% Convertible Senior Notes due October 2023 At June 30, 2017 and December 31, 2016, the Company had $378.3 million and $376.8 million, respectively, outstanding on its seven year, 2.0% convertible senior notes due October 2023. At June 30, 2017, the fair value of the liability component of these convertible senior notes was approximately $377.9 million. These convertible senior notes fall within Level 1 of the fair value hierarchy. June 30, December 31, Liability Component: Principal $ 402,500 $ 402,500 Unamortized debt discount (24,246 ) (25,741 ) Long-term debt, net of unamortized debt discount 378,254 376,759 Unamortized deferred financing costs (9,395 ) (9,934 ) Net carrying amount $ 368,859 $ 366,825 Equity Component $ 26,748 $ 26,748 Quarter Six Months Contractual interest expense $ 2,013 $ 3,757 Amortization of debt discount 876 1,495 Amortization of deferred financing costs 376 757 Total interest expense $ 3,265 $ 6,009 IMTT At June 30, 2017 and December 31, 2016, IMTT had $96.0 million and $32.0 million outstanding on its revolving credit facilities, respectively. During the six months ended June 30, 2017, IMTT drew down $110.0 million and repaid $46.0 million on its USD revolving credit facility primarily for general corporate purposes. At June 30, 2017, the undrawn portion on its USD revolving credit facility and CAD revolving credit facility were $454.0 million and $50.0 million, respectively. In July 2017, IMTT borrowed $5.0 million on its revolving credit facility for general corporate purposes. Atlantic Aviation At June 30, 2017 and December 31, 2016, Atlantic Aviation had $168.5 million and $48.0 million outstanding on its revolving credit facility, respectively. During the six months ended June 30, 2017, Atlantic Aviation drew down $154.5 million and repaid $34.0 million on its revolving credit facility primarily to fund a fixed based operation (FBO) acquisition and for general corporate purposes. At June 30, 2017, the undrawn portion on its revolving credit facility was $181.5 million. On August 1, 2017, Atlantic Aviation repaid $6.5 million on the outstanding balance on its revolving credit facility. MIC Hawaii In February 2017, Hawaii Gas exercised the first of two one-year extensions related to its $80.0 million secured term loan facility and its $60.0 million revolving credit facility. The maturities have been extended to February 2022 and no changes were made to any other terms.

Derivative Instruments and Hedg

Derivative Instruments and Hedging Activities	6 Months Ended
	Jun. 30, 2017
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 agreements, primarily using interest rate swaps and from time to time using interest rate caps, to manage fluctuations in cash flows resulting from interest rate risk on a portion of its debt with a variable-rate component. Interest rate swaps change the variable-rate cash flow exposure on the debt obligations to fixed cash flows. Under the terms of the interest rate swaps, the Company receives variable interest rate payments and makes fixed interest rate payments, thereby creating the equivalent of fixed-rate debt for the portion of the debt that is swapped. At June 30, 2017, the Company had $3.3 billion of current and long-term debt, of which $1.4 billion was economically hedged with interest rate contracts, $1.6 billion was fixed rate debt and $267.3 million was unhedged. The Company does not use hedge accounting. All movements in the fair value of the interest rate derivatives are recorded directly through earnings. Commodity Price Hedges The risks associated with fluctuations in the prices that Hawaii Gas, a business within the MIC Hawaii reportable segment, pays for propane is principally a result of market forces reflecting changes in supply and demand for propane and other energy commodities. Hawaii Gas’ gross margin (revenue less cost of product sales excluding depreciation and amortization) 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 has 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 used 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 Fair Value Balance Sheet Location June 30, December 31, Fair value of derivative instruments – current assets $ 4,902 $ 5,514 Fair value of derivative instruments – noncurrent assets 19,432 30,781 Total derivative contracts – assets $ 24,334 $ 36,295 Fair value of derivative instruments – current liabilities $ (5,527 ) $ (9,297 ) Fair value of derivative instruments – noncurrent liabilities (6,157 ) (5,966 ) Total derivative contracts – liabilities $ (11,684 ) $ (15,263 ) Amount of (Loss) Gain Recognized in Consolidated Quarter Ended June 30, Six Months Ended June 30, Financial Statement Account 2017 2016 2017 2016 Interest expense – interest rate caps $ (2,536 ) $ — $ (2,669 ) $ — Interest expense – interest rate swaps (5,195 ) (14,902 ) (4,108 ) (46,728 ) Cost of product sales – commodity swaps 369 3,947 (3,615 ) 6,253 Total $ (7,362 ) $ (10,955 ) $ (10,392 ) $ (40,475 ) All of the Company’s derivative instruments are collateralized by the assets of the respective businesses.

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Jun. 30, 2017
Equity [Abstract]
Stockholders’ Equity	8. Stockholders’ Equity 2016 Omnibus Employee Incentive Plan On May 18, 2016, the Company adopted the 2016 Omnibus Employee Incentive Plan (Plan). The Plan provides for the issuance of equity awards covering up to 500,000 shares of common stock to attract, retain, and motivate employees, consultants and others who perform services for the Company and its subsidiaries. Under the Plan, the Compensation Committee determines the persons who will receive awards, the time at which they are granted and the terms of the awards. Type of awards include stock options, stock appreciation rights, restricted stock, restricted stock units, dividend equivalent rights, cash-based awards and other stock-based awards. At June 30, 2017, there were no awards outstanding under this Plan. 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. From inception, the Company has sold 188,592 shares of common stock pursuant to the agreement for net proceeds of $15.4 million (net of 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 of common stock to participants in this program. At June 30, 2017, 902,397 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. Accumulated Other Comprehensive Loss Post-Retirement Translation (1) Total Noncontrolling Total Balance at December 31, 2015 $ (14,788 ) $ (14,530 ) $ (29,318 ) $ 6,023 $ (23,295 ) Translation adjustment — 3,561 3,561 (1,434 ) 2,127 Purchase of noncontrolling interest (2) — — — (4,589 ) (4,589 ) Balance at June 30, 2016 $ (14,788 ) $ (10,969 ) $ (25,757 ) $ — $ (25,757 ) Balance at December 31, 2016 $ (16,805 ) $ (12,155 ) $ (28,960 ) $ — $ (28,960 ) Translation adjustment — 1,097 1,097 — 1,097 Balance at June 30, 2017 $ (16,805 ) $ (11,058 ) $ (27,863 ) $ — $ (27,863 ) (1) Translation adjustment is presented net of tax expense of $755,000 and $1.5 million for the six months ended June 30, 2017 and 2016, 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 accumulated other comprehensive loss.

Reportable Segments

Reportable Segments	6 Months Ended
	Jun. 30, 2017
Segment Reporting [Abstract]
Reportable Segments	9. Reportable Segments At June 30, 2017, the Company’s businesses consisted of four reportable segments: IMTT, Atlantic Aviation, CP and MIC Hawaii. IMTT IMTT provides bulk liquid storage, handling and other 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 revenue from fuel delivery services and from other airport services, including de-icing and aircraft hangar rental. All of the revenue of Atlantic Aviation is generated at airports in the U.S. At June 30, 2017, the business operates at 70 airports. Revenue from Atlantic Aviation is included in service revenue. CP The CP business segment derives revenue from solar, wind and gas-fired power facilities. Revenue from the solar, wind and gas-fired power facilities are included in product revenue. As of June 30, 2017, the Company has controlling interests in six utility-scale solar photovoltaic facilities, two wind facilities and 100% ownership of a gas-fired facility that are in operations in the United States. The solar and wind facilities that are operational at June 30, 2017 have an aggregate generating capacity of 340 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 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. The Company owns 100% of Bayonne Energy Center (BEC), a 512 MW gas-fired 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. The tolling agreements generate revenue whether or not the facility is in use for power production. In addition to revenue related to the tolling agreement and capacity payments from the grid operator, BEC generates an energy margin when the facility is dispatched. MIC Hawaii MIC Hawaii comprises: Hawaii Gas, Hawaii’s only government-franchised gas utility and an unregulated liquefied petroleum gas distribution business providing gas and related services to commercial, residential and governmental customers; a mechanical contractor focused on designing and constructing energy efficient and related building infrastructure; and controlling interests in two solar facilities on Oahu. Revenue from Hawaii Gas and the solar facilities are recorded in product revenue. Revenue from the mechanical contractor business is recorded in service revenue. Revenue from the Hawaii Gas business 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. Revenue levels, without organic growth, will generally track global commodity prices, namely petroleum and natural gas, as its products are derived from these commodities. All of the MIC 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 June 30, 2017 IMTT Atlantic Contracted MIC Intersegment Total Service revenue $ 137,144 $ 196,939 $ — $ 12,193 $ (1,231 ) $ 345,045 Product revenue — — 40,166 53,779 — 93,945 Total revenue $ 137,144 $ 196,939 $ 40,166 $ 65,972 $ (1,231 ) $ 438,990 Quarter Ended June 30, 2016 IMTT Atlantic Contracted MIC Intersegment Total Service revenue $ 128,218 $ 179,218 $ — $ — $ (1,215 ) $ 306,221 Product revenue — — 38,300 53,058 — 91,358 Total revenue $ 128,218 $ 179,218 $ 38,300 $ 53,058 $ (1,215 ) $ 397,579 Six Months Ended June 30, 2017 IMTT Atlantic Contracted MIC Intersegment Total Service revenue $ 275,961 $ 409,692 $ — $ 25,650 $ (2,454 ) $ 708,849 Product revenue — — 68,236 113,362 — 181,598 Total revenue $ 275,961 $ 409,692 $ 68,236 $ 139,012 $ (2,454 ) $ 890,447 Six Months Ended June 30, 2016 IMTT Atlantic Contracted MIC Intersegment Total Service revenue $ 263,643 $ 357,206 $ — $ — $ (2,387 ) $ 618,462 Product revenue — — 68,479 107,025 — 175,504 Total revenue $ 263,643 $ 357,206 $ 68,479 $ 107,025 $ (2,387 ) $ 793,966 In accordance with FASB ASC 280, Segment Reporting the most comparable GAAP measure EBITDA excluding non-cash items for the Company’s consolidated reportable segments is shown in the tables below ($ in thousands). Allocations of corporate expenses, intercompany fees and the tax effect have been excluded as they are eliminated on consolidation. Quarter Ended June 30, 2017 IMTT Atlantic Contracted MIC Total Net income $ 22,613 $ 16,808 $ 4,292 $ 4,971 $ 48,684 Interest expense, net 11,763 5,907 8,767 2,207 28,644 Provision for income taxes 15,716 11,077 1,845 2,563 31,201 Depreciation 28,036 11,925 13,754 3,348 57,063 Amortization of intangibles 2,759 11,650 1,107 382 15,898 Pension expense 1,350 5 — 272 1,627 Other non-cash expense (income) 69 (22 ) (2,232 ) 897 (1,288 ) EBITDA excluding non-cash items $ 82,306 $ 57,350 $ 27,533 $ 14,640 $ 181,829 Quarter Ended June 30, 2016 IMTT Atlantic Contracted MIC Total Net income (loss) $ 14,978 $ 11,749 $ (804 ) $ 8,774 $ 34,697 Interest expense, net 13,764 8,924 11,002 2,229 35,919 Provision for income taxes 10,409 7,973 1,917 5,706 26,005 Depreciation 32,519 11,966 12,740 2,437 59,662 Amortization of intangibles 2,763 12,736 1,107 107 16,713 Pension expense 1,831 17 — 349 2,197 Other non-cash expense (income) 115 339 (1,945 ) (3,654 ) (5,145 ) EBITDA excluding non-cash items $ 76,379 $ 53,704 $ 24,017 $ 15,948 $ 170,048 Six Months Ended June 30, 2017 IMTT Atlantic Contracted MIC Total Net income $ 46,429 $ 38,634 $ 2,353 $ 9,844 $ 97,260 Interest expense, net 20,520 9,353 14,150 3,918 47,941 Provision for income taxes 32,264 25,627 1,872 5,942 65,705 Depreciation 56,796 23,514 27,987 6,447 114,744 Amortization of intangibles 5,519 25,094 2,214 764 33,591 Pension expense 3,766 10 — 545 4,321 Other non-cash expense (income) 137 40 (4,256 ) 6,468 2,389 EBITDA excluding non-cash items $ 165,431 $ 122,272 $ 44,320 $ 33,928 $ 365,951 Six Months Ended June 30, 2016 IMTT Atlantic Contracted MIC Total Net income (loss) $ 31,195 $ 26,107 $ (10,027 ) $ 17,843 $ 65,118 Interest expense, net 33,635 22,238 28,850 4,653 89,376 Provision (benefit) for income taxes 21,638 17,715 (387 ) 11,617 50,583 Depreciation 62,384 20,339 25,479 4,681 112,883 Amortization of intangibles 5,519 26,554 2,214 213 34,500 Pension expense 3,662 34 — 699 4,395 Other non-cash expense (income) 558 248 (3,965 ) (6,406 ) (9,565 ) EBITDA excluding non-cash items $ 158,591 $ 113,235 $ 42,164 $ 33,300 $ 347,290 Quarter Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 Total reportable segments EBITDA excluding $ 181,829 $ 170,048 $ 365,951 $ 347,290 Interest income 41 25 75 58 Interest expense (35,356 ) (39,502 ) (60,838 ) (96,397 ) Depreciation (57,063 ) (59,662 ) (114,744 ) (112,883 ) Amortization of intangibles (15,898 ) (16,713 ) (33,591 ) (34,500 ) Selling, general and administrative expenses - Corporate and Other (11,092 ) (3,451 ) (15,087 ) (4,906 ) Fees to Manager - related party (18,433 ) (16,392 ) (36,656 ) (31,188 ) Pension expense (1,627 ) (2,197 ) (4,321 ) (4,395 ) Other income (expense), net 1,288 5,145 (2,389 ) 9,565 Total consolidated net income before income taxes $ 43,689 $ 37,301 $ 98,400 $ 72,644 Capital expenditures, on a cash basis, for the Company’s reportable segments were ($ in thousands): Quarter Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 IMTT $ 16,796 $ 18,757 $ 32,059 $ 42,165 Atlantic Aviation 14,851 20,618 34,096 41,889 Contracted Power 30,321 11,138 49,500 16,978 MIC Hawaii 7,335 5,628 13,450 17,702 Total capital expenditures of reportable segments $ 69,303 $ 56,141 $ 129,105 $ 118,734 Corporate and other 1,179 — 1,246 — Total consolidated capital expenditure $ 70,482 $ 56,141 $ 130,351 $ 118,734 Property, equipment, land and leasehold improvements, net, goodwill and total assets for the Company’s reportable segments and its reconciliation to consolidated total assets were ($ in thousands): Property, Equipment, Goodwill Total Assets June 30, December 31, June 30, December 31, June 30, December 31, IMTT $ 2,189,478 $ 2,218,256 $ 1,411,269 $ 1,411,029 $ 3,930,498 $ 3,978,379 Atlantic Aviation 499,991 465,096 475,415 468,419 1,607,148 1,564,668 Contracted Power 1,428,297 1,383,289 21,628 21,628 1,585,212 1,516,602 MIC Hawaii 287,363 279,863 123,408 123,333 506,182 501,713 Total assets of reportable segments $ 4,405,129 $ 4,346,504 $ 2,031,720 $ 2,024,409 $ 7,629,040 $ 7,561,362 Corporate and other 3,125 32 — — 5,871 (2,109 ) Total consolidated assets $ 4,408,254 $ 4,346,536 $ 2,031,720 $ 2,024,409 $ 7,634,911 $ 7,559,253

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2017
Related Party Transactions [Abstract]
Related Party Transactions	10. Related Party Transactions Management Services At June 30, 2017 and December 31, 2016, the Manager held 4,952,141 shares and 4,510,795 shares, respectively, of the Company. Pursuant to the terms of the Third Amended and Restated 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 base management fees and performance fees, if any, in shares of the Company. Declared Period Covered $ per Record Date Payable Date Cash Paid to August 1, 2017 Second quarter 2017 $ 1.38 August 14, 2017 August 17, 2017 (1) May 2, 2017 First quarter 2017 1.32 May 15, 2017 May 18, 2017 $ 6,332 February 17, 2017 Fourth quarter 2016 1.31 March 3, 2017 March 8, 2017 6,080 October 27, 2016 Third quarter 2016 1.29 November 10, 2016 November 15, 2016 5,620 July 28, 2016 Second quarter 2016 1.25 August 11, 2016 August 16, 2016 8,743 April 28, 2016 First quarter 2016 1.20 May 12, 2016 May 17, 2016 6,981 February 18, 2016 Fourth quarter 2015 1.15 March 3, 2016 March 8, 2016 6,510 (1) The amount of dividends payable to the Manager for the second quarter of 2017 will be determined on August 14, 2017, the record date. Under the Management Agreement, subject to the oversight and supervision of the Company’s Board of Directors, the Manager is responsible for and oversees the management 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. Currently, the Manager has elected to reinvest the future base management fees and performance fees, if any, in additional shares. For the quarter and six months ended June 30, 2017, the Company incurred base management fees of $18.4 million and $36.7 million, respectively. For the quarter and six months ended June 30, 2016, the Company incurred base management fees of $16.4 million and $31.2 million, respectively. No performance fees were generated in any of the above periods. For the quarter ended June 30, 2015, the Company incurred a performance fee of $135.6 million. In July 2015, the Board requested, and the Manager agreed, that $67.8 million of the performance fee be settled in cash in July 2015 to minimize dilution. The remaining $67.8 million obligation was settled and reinvested in 944,046 shares by the Manager on August 1, 2016. In all of the periods shown below, our Manager elected to reinvest any fees to which it was entitled in additional shares. Period Base Management Performance Shares 2017 Activities: Second quarter 2017 $ 18,433 $ — 233,394 (1) First quarter 2017 18,223 — 232,398 2016 Activities: Fourth quarter 2016 $ 18,916 $ — 230,773 Third quarter 2016 18,382 — 232,488 Second quarter 2016 16,392 — 232,835 First quarter 2016 14,796 — 234,179 (1) The Manager elected to reinvest all of the monthly base management fees for the second quarter of 2017 in shares. The Company issued 233,394 shares for the quarter ended June 30, 2017, including 77,860 shares that were issued in July 2017 for the June 2017 monthly base management fee. The Manager is not entitled to any other compensation and all costs incurred by the Manager, including compensation of seconded staff, are paid by the Manager out of its base management fee. However, the Company is responsible for other direct costs including, but not limited to, expenses incurred in the administration or management of the Company and its subsidiaries, income taxes, audit and legal fees, acquisitions and dispositions and its compliance with applicable laws and regulations. During the quarter and six months ended June 30, 2017, the Manager charged the Company $156,000 and $445,000, respectively, for reimbursement of out-of-pocket expenses compared with $233,000 and $304,000 for the quarter and six months ended June 30, 2016, respectively. 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. Other Services The Company uses 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 six months ended June 30, 2017 and 2016, the Company did not engage MCUSA for such activities. Long-Term Debt Atlantic Aviation’s $70.0 million revolving credit facility was provided by various financial institutions, including MBL which provided $15.7 million. For the quarter and six months ended June 30, 2016, Atlantic Aviation incurred and paid $29,000 and $58,000 in interest expense related to MBL’s portion of the revolving credit facility. In October 2016, the revolving credit facility was terminated in conjunction with the completion of the refinancing of Atlantic Aviation’s new credit facility. The Company has a $410.0 million senior secured revolving credit facility at the holding company that is provided by various financial institutions, of which $50.0 million is provided by MIHI LLC. For the quarter and six months ended June 30, 2017, the Company incurred $35,000 and $69,000, respectively, in interest expense related to MIHI LLC’s portion of the MIC senior secured revolving credit facility, compared with $62,000 and $102,000 for the quarter and six months ended June 30, 2016, respectively. Other Transactions Macquarie Energy North America Trading, Inc. (MENAT), an indirect subsidiary of Macquarie Group Limited, entered into contracts with IMTT to lease capacity. At March 31, 2017, MENAT leased 200,000 barrels of capacity from IMTT. The contracts expired during the quarter ended June 30, 2017, and at June 30, 2017, there were no outstanding contracts with MENAT. During the quarter and six months ended June 30, 2017, IMTT recognized $294,000 and $907,000, respectively, in revenues from MENAT. At June 30, 2016, MENAT leased 721,000 barrels of capacity and IMTT recognized $1.8 million and $3.0 million in revenues for the quarter and six months ended June 30, 2016, respectively

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2017
Income Tax Disclosure [Abstract]
Income Taxes	11. Income Taxes The Company expects to incur federal consolidated taxable income for the year ending December 31, 2017, 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 2028 and completely expire after 2035.

Legal Proceedings and Contingen

Legal Proceedings and Contingencies	6 Months Ended
	Jun. 30, 2017
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	6 Months Ended
	Jun. 30, 2017
Subsequent Events [Abstract]
Subsequent Events	13. Subsequent Events Dividend On August 1, 2017, the Board of Directors declared a dividend of $1.38 per share for the quarter ended June 30, 2017, which is expected to be paid on August 17, 2017 to holders of record on August 14, 2017. Subsequent to the quarter ended June 30, 2017, IMTT entered into an agreement to purchase a portfolio of seven bulk liquid terminals in the Southeast and Southwest U.S., with principal operations in the Port of Savannah, Georgia. The facilities comprise approximately 3.1 million barrels of storage capacity, a significant portion of which is in service for jet fuel. The purchase price is $171.5 million (subject to working capital adjustments), of which $125.0 million will be issued in new MIC shares to the seller and the remaining balance to be settled in cash. The transaction is expected to close in the third quarter of 2017, subject to receipt of regulatory approvals and satisfaction of other customary closing conditions. The Company has also entered into an agreement to complete an acquisition of an operating business in an existing segment. The transaction is expected to close in the third quarter of 2017, subject to receipt of relevant consents and satisfaction of customary closing conditions, at which time additional details may be disclosed.

Basis of Presentation (Policies

Basis of Presentation (Policies)	6 Months Ended
	Jun. 30, 2017
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 disclosures related thereto at the date of the unaudited consolidated condensed financial statements and the reported amounts of revenue 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 January 26, 2017, the FASB issued ASU No. 2017-04, Intangibles — Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment On January 5, 2017, the FASB issued ASU No. 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business On November 17, 2016, the FASB issued ASU No. 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash On February 25, 2016, FASB issued ASU No. 2016-02, Leases (Topic 842) The Company also serves as a lessor primarily through operating leases. The accounting for lessors is not expected to fundamentally change except for changes to conform and align existing guidance to the lessee guidance under ASU 2016-02, as well as to the new revenue recognition guidance in ASU 2014-09. ASU 2016-02 is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018. Early adoption is allowed. The standard is to be applied using a modified retrospective approach. The Company has begun evaluating and planning for the adoption and implementation of ASU 2016-02, including assessing the overall impact. ASU 2016-02 will have a material impact on the Company’s consolidated balance sheets; however, the full impact to the overall financial statements has not yet been determined. The impact on the Company’s results of operations is being evaluated. The impact of this ASU is non-cash in nature and will not affect the Company’s cash position. In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606) • ASU 2015-14 (Issued August 2015) — Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date; • ASU 2016-08 (Issued March 2016) — Principal versus Agent Consideration (Reporting Revenue Gross versus Net) • ASU 2016-10 (Issued April 2016) — Identifying Performance Obligations and Licensing • ASU 2016-12 (Issued May 2016) — Narrow-Scope Improvements and Practical Expedients • ASU 2016-20 (Issued December 2016) — Technical Corrections and Improvements to Topic 606, Revenue from Contracts with Customers With the deferral, the new standard is effective for the Company on January 1, 2018. There are two adoption methods available for implementation of the standard related to the recognition of revenue from contracts with customers. Under one method, the new guidance is applied retrospectively to contracts for each reporting period presented, subject to allowable practical expedients. Under the other method, referred to as the modified retrospective method, the new guidance is applied only to the most current period presented, recognizing the cumulative effect of the change as an adjustment to the beginning balance of retained earnings, and also requires additional disclosures comparing the results to the previous guidance. The Company is going to adopt this standard using the modified retrospective method and is currently evaluating the impact that this standard will have on the Company’s consolidated financial statements, and the changes to its systems, processes and internal controls to meet the reporting and disclosure requirements. Upon initial evaluation, the Company believes key changes in the standard that impact the Company’s revenue recognition relate to the allocation of contract revenue between various services and equipment, and the timing of when those revenues are recognized. The Company is still in the process of evaluating the magnitude of these impacts and other areas of the standard and the effect on the Company’s financial statements and related disclosures. In addition, the Company currently includes sales, excise and value-added taxes related to sales transactions within revenue on the consolidated statements of operations. Upon adoption of ASU 2014-09, the Company will exclude sales-based taxes collected on behalf of third parties from service and product revenue and include these amounts in cost of services and product sales. The result will be a reclassification on the consolidated statements of operations. ASU 2014-09 also introduces new qualitative and quantitative disclosure requirements about contracts with customers including revenue and impairments recognized, disaggregation of revenue and information about contract balance and performance obligations. Information is required about significant judgments and changes in judgments in determining the timing of satisfaction of performance obligations. The Company is in process of evaluating what additional information will be disclosed, but expects the overall level of disclosures related to revenue recognition to increase. On July 22, 2015, the FASB issued ASU No. 2015-11, Inventory (Topic 330): Simplifying the Measurement of Inventory,

Income per Share (Tables)

Income per Share (Tables)	6 Months Ended
	Jun. 30, 2017
Earnings Per Share [Abstract]
Reconciliation of Earnings Income per Share	Following is a reconciliation of the basic and diluted income per share computations ($ in thousands, except share and per share data): Quarter Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 Numerator: Net income attributable to MIC $ 26,020 $ 19,192 $ 62,035 $ 41,547 Diluted net income attributable to MIC $ 26,020 $ 19,192 $ 62,035 $ 41,547 Denominator: Weighted average number of shares outstanding: basic 82,430,324 80,369,575 82,285,053 80,241,293 Dilutive effect of restricted stock unit grants 9,516 9,673 9,555 9,166 Dilutive effect of fees to Manager-related party — 944,046 — 944,046 Weighted average number of shares outstanding: diluted 82,439,840 81,323,294 82,294,608 81,194,505 Income per share: Basic income per share attributable to MIC $ 0.32 $ 0.24 $ 0.75 $ 0.52 Diluted income per share attributable to MIC $ 0.32 $ 0.24 $ 0.75 $ 0.51
Schedule of Antidilutive Securities	The following represents the weighted average potential dilutive shares of common stock that were excluded from the diluted income per share calculation: Quarter Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 2.875% Convertible senior notes due July 2019 4,259,535 4,165,364 4,241,059 4,152,307 2.00% Convertible senior notes due October 2023 3,596,901 — 3,596,901 — Total 7,856,436 4,165,364 7,837,960 4,152,307

Property, Equipment, Land and24

Property, Equipment, Land and Leasehold Improvements (Tables)	6 Months Ended
	Jun. 30, 2017
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment	Property, equipment, land and leasehold improvements at June 30, 2017 and December 31, 2016 consisted of the following ($ in thousands): June 30, December 31, Land $ 304,236 $ 304,240 Easements 131 131 Buildings 43,486 41,711 Leasehold and land improvements 720,288 673,122 Machinery and equipment 3,799,684 3,764,553 Furniture and fixtures 36,779 35,454 Construction in progress 322,176 233,184 5,226,780 5,052,395 Less: accumulated depreciation (818,526 ) (705,859 ) Property, equipment, land and leasehold improvements, net $ 4,408,254 $ 4,346,536

Intangible Assets (Tables)

Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets	Intangible assets at June 30, 2017 and December 31, 2016 consisted of the following ($ in thousands): June 30, December 31, Contractual arrangements $ 941,228 $ 912,728 Non-compete agreements 10,014 10,014 Customer relationships 348,936 348,678 Leasehold rights 350 350 Trade names 16,091 16,091 Technology 8,760 8,760 1,325,379 1,296,621 Less: accumulated amortization (441,267 ) (407,650 ) Intangible assets, net $ 884,112 $ 888,971
Schedule of Goodwill	The goodwill balance as of June 30, 2017 is comprised of the following ($ in thousands): Goodwill acquired in business combinations, net of disposals, at December 31, 2016 $ 2,149,894 Accumulated impairment charges (123,200 ) Other (2,285 ) Balance at December 31, 2016 2,024,409 Purchase accounting adjustments related to prior year acquisitions 75 Goodwill related to 2017 acquisition 6,996 Other 240 Balance at June 30, 2017 $ 2,031,720

Long-Term Debt (Tables)

Long-Term Debt (Tables)	6 Months Ended
	Jun. 30, 2017
Debt Instrument [Line Items]
Schedule of Long-Term Debt	At June 30, 2017 and December 31, 2016, the Company’s consolidated long-term debt balance comprised of the following ($ in thousands): June 30, December 31, IMTT $ 1,204,975 $ 1,140,975 Atlantic Aviation 565,067 449,691 CP 592,175 604,862 MIC Hawaii 200,013 200,744 MIC Corporate 728,208 726,730 Total 3,290,438 3,123,002 Current portion (45,544 ) (40,016 ) Long-term portion 3,244,894 3,082,986 Unamortized deferred financing costs (1) (39,161 ) (43,020 ) Long-term portion less unamortized debt discount and deferred financing costs $ 3,205,733 $ 3,039,966 (1) The weighted average remaining life of the deferred financing costs at June 30, 2017 was 5.9 years.
Convertible Debt	The 2.00% Convertible Senior Notes due October 2023 consisted of the following ($ in thousands): June 30, December 31, Liability Component: Principal $ 402,500 $ 402,500 Unamortized debt discount (24,246 ) (25,741 ) Long-term debt, net of unamortized debt discount 378,254 376,759 Unamortized deferred financing costs (9,395 ) (9,934 ) Net carrying amount $ 368,859 $ 366,825 Equity Component $ 26,748 $ 26,748
Schedule of Interest Expense Recognized	For the quarter and six months ended June 30, 2017, total interest expense recognized related to the 2.00% Convertible Senior Notes due October 2023 consisted of the following ($ in thousands): Quarter Six Months Contractual interest expense $ 2,013 $ 3,757 Amortization of debt discount 876 1,495 Amortization of deferred financing costs 376 757 Total interest expense $ 3,265 $ 6,009

Derivative Instruments and He27

Derivative Instruments and Hedging Activities (Tables)	6 Months Ended
	Jun. 30, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Fair Value of Derivative Instruments	The Company’s fair value measurements of its derivative instruments and the related location of the assets and liabilities within the consolidated condensed balance sheets at June 30, 2017 and December 31, 2016 were ($ in thousands): Assets (Liabilities) at Fair Value Balance Sheet Location June 30, December 31, Fair value of derivative instruments – current assets $ 4,902 $ 5,514 Fair value of derivative instruments – noncurrent assets 19,432 30,781 Total derivative contracts – assets $ 24,334 $ 36,295 Fair value of derivative instruments – current liabilities $ (5,527 ) $ (9,297 ) Fair value of derivative instruments – noncurrent liabilities (6,157 ) (5,966 ) Total derivative contracts – liabilities $ (11,684 ) $ (15,263 )
Schedule of Location of Hedging Activities	The Company’s hedging activities for the quarters and six months ended June 30, 2017 and 2016 and the related location within the consolidated condensed statements of operations were ($ in thousands): Amount of (Loss) Gain Recognized in Consolidated Quarter Ended June 30, Six Months Ended June 30, Financial Statement Account 2017 2016 2017 2016 Interest expense – interest rate caps $ (2,536 ) $ — $ (2,669 ) $ — Interest expense – interest rate swaps (5,195 ) (14,902 ) (4,108 ) (46,728 ) Cost of product sales – commodity swaps 369 3,947 (3,615 ) 6,253 Total $ (7,362 ) $ (10,955 ) $ (10,392 ) $ (40,475 )

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	6 Months Ended
	Jun. 30, 2017
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Loss	The following represents the changes and balances to the components of accumulated other comprehensive loss for the six months ended June 30, 2017 and 2016 ($ in thousands): Post-Retirement Translation (1) Total Noncontrolling Total Balance at December 31, 2015 $ (14,788 ) $ (14,530 ) $ (29,318 ) $ 6,023 $ (23,295 ) Translation adjustment — 3,561 3,561 (1,434 ) 2,127 Purchase of noncontrolling interest (2) — — — (4,589 ) (4,589 ) Balance at June 30, 2016 $ (14,788 ) $ (10,969 ) $ (25,757 ) $ — $ (25,757 ) Balance at December 31, 2016 $ (16,805 ) $ (12,155 ) $ (28,960 ) $ — $ (28,960 ) Translation adjustment — 1,097 1,097 — 1,097 Balance at June 30, 2017 $ (16,805 ) $ (11,058 ) $ (27,863 ) $ — $ (27,863 ) (1) Translation adjustment is presented net of tax expense of $755,000 and $1.5 million for the six months ended June 30, 2017 and 2016, 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 accumulated other comprehensive loss.

Reportable Segments (Tables)

Reportable Segments (Tables)	6 Months Ended
	Jun. 30, 2017
Segment Reporting [Abstract]
Schedule of Revenue From External Customers	Revenue from external customers for the Company’s consolidated reportable segments were ($ in thousands): Quarter Ended June 30, 2017 IMTT Atlantic Contracted MIC Intersegment Total Service revenue $ 137,144 $ 196,939 $ — $ 12,193 $ (1,231 ) $ 345,045 Product revenue — — 40,166 53,779 — 93,945 Total revenue $ 137,144 $ 196,939 $ 40,166 $ 65,972 $ (1,231 ) $ 438,990 Quarter Ended June 30, 2016 IMTT Atlantic Contracted MIC Intersegment Total Service revenue $ 128,218 $ 179,218 $ — $ — $ (1,215 ) $ 306,221 Product revenue — — 38,300 53,058 — 91,358 Total revenue $ 128,218 $ 179,218 $ 38,300 $ 53,058 $ (1,215 ) $ 397,579 Six Months Ended June 30, 2017 IMTT Atlantic Contracted MIC Intersegment Total Service revenue $ 275,961 $ 409,692 $ — $ 25,650 $ (2,454 ) $ 708,849 Product revenue — — 68,236 113,362 — 181,598 Total revenue $ 275,961 $ 409,692 $ 68,236 $ 139,012 $ (2,454 ) $ 890,447 Six Months Ended June 30, 2016 IMTT Atlantic Contracted MIC Intersegment Total Service revenue $ 263,643 $ 357,206 $ — $ — $ (2,387 ) $ 618,462 Product revenue — — 68,479 107,025 — 175,504 Total revenue $ 263,643 $ 357,206 $ 68,479 $ 107,025 $ (2,387 ) $ 793,966
Schedule of EBITDA for Reportable Segments	Allocations of corporate expenses, intercompany fees and the tax effect have been excluded as they are eliminated on consolidation. Quarter Ended June 30, 2017 IMTT Atlantic Contracted MIC Total Net income $ 22,613 $ 16,808 $ 4,292 $ 4,971 $ 48,684 Interest expense, net 11,763 5,907 8,767 2,207 28,644 Provision for income taxes 15,716 11,077 1,845 2,563 31,201 Depreciation 28,036 11,925 13,754 3,348 57,063 Amortization of intangibles 2,759 11,650 1,107 382 15,898 Pension expense 1,350 5 — 272 1,627 Other non-cash expense (income) 69 (22 ) (2,232 ) 897 (1,288 ) EBITDA excluding non-cash items $ 82,306 $ 57,350 $ 27,533 $ 14,640 $ 181,829 Quarter Ended June 30, 2016 IMTT Atlantic Contracted MIC Total Net income (loss) $ 14,978 $ 11,749 $ (804 ) $ 8,774 $ 34,697 Interest expense, net 13,764 8,924 11,002 2,229 35,919 Provision for income taxes 10,409 7,973 1,917 5,706 26,005 Depreciation 32,519 11,966 12,740 2,437 59,662 Amortization of intangibles 2,763 12,736 1,107 107 16,713 Pension expense 1,831 17 — 349 2,197 Other non-cash expense (income) 115 339 (1,945 ) (3,654 ) (5,145 ) EBITDA excluding non-cash items $ 76,379 $ 53,704 $ 24,017 $ 15,948 $ 170,048 Six Months Ended June 30, 2017 IMTT Atlantic Contracted MIC Total Net income $ 46,429 $ 38,634 $ 2,353 $ 9,844 $ 97,260 Interest expense, net 20,520 9,353 14,150 3,918 47,941 Provision for income taxes 32,264 25,627 1,872 5,942 65,705 Depreciation 56,796 23,514 27,987 6,447 114,744 Amortization of intangibles 5,519 25,094 2,214 764 33,591 Pension expense 3,766 10 — 545 4,321 Other non-cash expense (income) 137 40 (4,256 ) 6,468 2,389 EBITDA excluding non-cash items $ 165,431 $ 122,272 $ 44,320 $ 33,928 $ 365,951 Six Months Ended June 30, 2016 IMTT Atlantic Contracted MIC Total Net income (loss) $ 31,195 $ 26,107 $ (10,027 ) $ 17,843 $ 65,118 Interest expense, net 33,635 22,238 28,850 4,653 89,376 Provision (benefit) for income taxes 21,638 17,715 (387 ) 11,617 50,583 Depreciation 62,384 20,339 25,479 4,681 112,883 Amortization of intangibles 5,519 26,554 2,214 213 34,500 Pension expense 3,662 34 — 699 4,395 Other non-cash expense (income) 558 248 (3,965 ) (6,406 ) (9,565 ) EBITDA excluding non-cash items $ 158,591 $ 113,235 $ 42,164 $ 33,300 $ 347,290 Quarter Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 Total reportable segments EBITDA excluding $ 181,829 $ 170,048 $ 365,951 $ 347,290 Interest income 41 25 75 58 Interest expense (35,356 ) (39,502 ) (60,838 ) (96,397 ) Depreciation (57,063 ) (59,662 ) (114,744 ) (112,883 ) Amortization of intangibles (15,898 ) (16,713 ) (33,591 ) (34,500 ) Selling, general and administrative expenses - Corporate and Other (11,092 ) (3,451 ) (15,087 ) (4,906 ) Fees to Manager - related party (18,433 ) (16,392 ) (36,656 ) (31,188 ) Pension expense (1,627 ) (2,197 ) (4,321 ) (4,395 ) Other income (expense), net 1,288 5,145 (2,389 ) 9,565 Total consolidated net income before income taxes $ 43,689 $ 37,301 $ 98,400 $ 72,644
Schedule of Capital Expenditures	Capital expenditures, on a cash basis, for the Company’s reportable segments were ($ in thousands): Quarter Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 IMTT $ 16,796 $ 18,757 $ 32,059 $ 42,165 Atlantic Aviation 14,851 20,618 34,096 41,889 Contracted Power 30,321 11,138 49,500 16,978 MIC Hawaii 7,335 5,628 13,450 17,702 Total capital expenditures of reportable segments $ 69,303 $ 56,141 $ 129,105 $ 118,734 Corporate and other 1,179 — 1,246 — Total consolidated capital expenditure $ 70,482 $ 56,141 $ 130,351 $ 118,734
Schedule of Assets of Reportable Segments	Property, equipment, land and leasehold improvements, net, goodwill and total assets for the Company’s reportable segments and its reconciliation to consolidated total assets were ($ in thousands): Property, Equipment, Goodwill Total Assets June 30, December 31, June 30, December 31, June 30, December 31, IMTT $ 2,189,478 $ 2,218,256 $ 1,411,269 $ 1,411,029 $ 3,930,498 $ 3,978,379 Atlantic Aviation 499,991 465,096 475,415 468,419 1,607,148 1,564,668 Contracted Power 1,428,297 1,383,289 21,628 21,628 1,585,212 1,516,602 MIC Hawaii 287,363 279,863 123,408 123,333 506,182 501,713 Total assets of reportable segments $ 4,405,129 $ 4,346,504 $ 2,031,720 $ 2,024,409 $ 7,629,040 $ 7,561,362 Corporate and other 3,125 32 — — 5,871 (2,109 ) Total consolidated assets $ 4,408,254 $ 4,346,536 $ 2,031,720 $ 2,024,409 $ 7,634,911 $ 7,559,253

Related Party Transactions (Tab

Related Party Transactions (Tables)	6 Months Ended
	Jun. 30, 2017
Related Party Transactions [Abstract]
Schedule of Dividends Paid to Manager	Since January 1, 2016, the Company paid the Manager cash dividends on shares held for the following periods: Declared Period Covered $ per Record Date Payable Date Cash Paid to August 1, 2017 Second quarter 2017 $ 1.38 August 14, 2017 August 17, 2017 (1) May 2, 2017 First quarter 2017 1.32 May 15, 2017 May 18, 2017 $ 6,332 February 17, 2017 Fourth quarter 2016 1.31 March 3, 2017 March 8, 2017 6,080 October 27, 2016 Third quarter 2016 1.29 November 10, 2016 November 15, 2016 5,620 July 28, 2016 Second quarter 2016 1.25 August 11, 2016 August 16, 2016 8,743 April 28, 2016 First quarter 2016 1.20 May 12, 2016 May 17, 2016 6,981 February 18, 2016 Fourth quarter 2015 1.15 March 3, 2016 March 8, 2016 6,510 (1) The amount of dividends payable to the Manager for the second quarter of 2017 will be determined on August 14, 2017, the record date.
Schedule of Base Management Fees and Performance Fees	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. Period Base Management Performance Shares 2017 Activities: Second quarter 2017 $ 18,433 $ — 233,394 (1) First quarter 2017 18,223 — 232,398 2016 Activities: Fourth quarter 2016 $ 18,916 $ — 230,773 Third quarter 2016 18,382 — 232,488 Second quarter 2016 16,392 — 232,835 First quarter 2016 14,796 — 234,179 (1) The Manager elected to reinvest all of the monthly base management fees for the second quarter of 2017 in shares. The Company issued 233,394 shares for the quarter ended June 30, 2017, including 77,860 shares that were issued in July 2017 for the June 2017 monthly base management fee.

Organization and Description 31

Organization and Description of Business (Narrative) (Details)	Jun. 30, 2017Item
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	70

Income per Share (Narrative) (D

Income per Share (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended			6 Months Ended
	Jun. 30, 2017	Sep. 30, 2016	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Mar. 31, 2016
Class of Stock [Line Items]
Restricted stock unit grants forfeited		2,151
Restricted stock unit grants June 18, 2015 [Member]
Class of Stock [Line Items]
Potentially dilutive shares			8,660		8,660
Restricted Stock Unit Grants May 18, 2016 [Member]
Class of Stock [Line Items]
Potentially dilutive shares	8,604		10,755	8,604	10,755
Dilutive [Member]
Class of Stock [Line Items]
Performance fee reinvested by the Manager			$ 67.8		$ 67.8
Restricted Stock Unit Grants November 1, 2016 [Member]
Class of Stock [Line Items]
Potentially dilutive shares	991			991
2.875% Convertible senior notes due July 2019 [Member] | MIC Corporate [Member]
Class of Stock [Line Items]
Interest rate	2.875%		2.875%	2.875%	2.875%	2.875%
Maturity	Jul. 31, 2019		Jul. 31, 2019	Jul. 31, 2019	Jul. 31, 2019
2.00% Convertible senior notes due October 2023 [Member] | MIC Corporate [Member]
Class of Stock [Line Items]
Interest rate	2.00%			2.00%
Maturity	Oct. 31, 2023			Oct. 31, 2023
Restricted stock unit grants May 17, 2017 [Member]
Class of Stock [Line Items]
Potentially dilutive shares	9,435			9,435

Income per Share (Schedule of R

Income per Share (Schedule of Reconciliation of the basic and diluted income (loss) per share computations (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Numerator:
Net income attributable to MIC	$ 26,020	$ 19,192	$ 62,035	$ 41,547
Diluted net income attributable to MIC	$ 26,020	$ 19,192	$ 62,035	$ 41,547
Denominator:
Weighted average number of shares outstanding: basic	82,430,324	80,369,575	82,285,053	80,241,293
Dilutive effect of restricted stock unit grants	9,516	9,673	9,555	9,166
Dilutive effect of fees to Manager-related party	0	944,046	0	944,046
Weighted average number of shares outstanding: diluted	82,439,840	81,323,294	82,294,608	81,194,505
Income per share:
Basic income per share attributable to MIC	$ 0.32	$ 0.24	$ 0.75	$ 0.52
Diluted income per share attributable to MIC	$ 0.32	$ 0.24	$ 0.75	$ 0.51

Income per Share (Schedule of S

Income per Share (Schedule of Shares Excluded from Calculation) (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities	7,856,436	4,165,364	7,837,960	4,152,307
2.875% Convertible senior notes due July 2019 [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities	4,259,535	4,165,364	4,241,059	4,152,307
2.00% Convertible senior notes due October 2023 [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities	3,596,901	0	3,596,901	0

Property, Equipment, Land and35

Property, Equipment, Land and Leasehold Improvements (Schedule of Property and Equipment) (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Property, Plant and Equipment [Line Items]
Land	$ 304,236	$ 304,240
Easements	131	131
Buildings	43,486	41,711
Leasehold and land improvements	720,288	673,122
Machinery and equipment	3,799,684	3,764,553
Furniture and fixtures	36,779	35,454
Construction in progress	322,176	233,184
Property, Plant and Equipment, Gross, Total	5,226,780	5,052,395
Less: accumulated depreciation	(818,526)	(705,859)
Property, equipment, land and leasehold improvements, net	$ 4,408,254	$ 4,346,536

Intangible Assets (Schedule of

Intangible Assets (Schedule of Intangible Assets) (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Intangible Assets [Line Items]
Contractual arrangements	$ 941,228	$ 912,728
Non-compete agreements	10,014	10,014
Customer relationships	348,936	348,678
Leasehold rights	350	350
Trade names	16,091	16,091
Technology	8,760	8,760
Intangible assets, gross	1,325,379	1,296,621
Less: accumulated amortization	(441,267)	(407,650)
Intangible assets, net	$ 884,112	$ 888,971

Intangible Assets (Schedule o37

Intangible Assets (Schedule of Goodwill) (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2017	Dec. 31, 2016
Intangible Assets [Abstract]
Goodwill acquired in business combinations, net of disposals, at December 31, 2016		$ 2,149,894
Accumulated impairment charges		(123,200)
Balance at December 31, 2016	$ 2,024,409
Purchase accounting adjustments related to prior year acquisitions	75
Goodwill related to 2017 acquisition	6,996
Other	240	(2,285)
Balance at June 30, 2017	$ 2,031,720	$ 2,024,409

Long-Term Debt (Narrative) (Det

Long-Term Debt (Narrative) (Details)	Jul. 15, 2017USD ($)	Aug. 01, 2017USD ($)	Jul. 31, 2017USD ($)	Feb. 28, 2017USD ($)	Jun. 30, 2017USD ($)	Dec. 31, 2016USD ($)
Debt Disclosure [Line Items]
Current and long-term debt					$ 3,290,438,000	$ 3,123,002,000
MIC Corporate [Member]
Debt Disclosure [Line Items]
Current and long-term debt					728,208,000	726,730,000
Atlantic Aviation [Member]
Debt Disclosure [Line Items]
Current and long-term debt					565,067,000	449,691,000
Hawaii Gas Business [Member]
Debt Disclosure [Line Items]
Maturity				Feb. 28, 2022
IMTT [Member]
Debt Disclosure [Line Items]
Current and long-term debt					1,204,975,000	1,140,975,000
Revolving Credit Facility [Member]
Debt Disclosure [Line Items]
Undrawn portion of line of credit					1,200,000,000
Revolving Credit Facility [Member] | MIC Corporate [Member] | Subsequent Event [Member]
Debt Disclosure [Line Items]
Repayment of revolving credit facility		$ 5,000,000
Drawn on revolver credit facility		5,000,000
Revolving Credit Facility [Member] | Atlantic Aviation [Member]
Debt Disclosure [Line Items]
Current and long-term debt					168,500,000	48,000,000
Undrawn portion of line of credit					181,500,000
Repayment of revolving credit facility					34,000,000
Drawn on revolver credit facility					154,500,000
Revolving Credit Facility [Member] | Atlantic Aviation [Member] | Subsequent Event [Member]
Debt Disclosure [Line Items]
Repayment of revolving credit facility		$ 6,500,000
Revolving Credit Facility [Member] | Hawaii Gas Business [Member]
Debt Disclosure [Line Items]
Undrawn portion of line of credit				$ 60,000,000
Revolving Credit Facility [Member] | IMTT [Member]
Debt Disclosure [Line Items]
Current and long-term debt					96,000,000	32,000,000
Revolving Credit Facility [Member] | IMTT [Member] | Subsequent Event [Member]
Debt Disclosure [Line Items]
Drawn on revolver credit facility			$ 5,000,000
Revolving Credit Facility [Member] | United States- IMTT [Member]
Debt Disclosure [Line Items]
Undrawn portion of line of credit					454,000,000
Repayment of revolving credit facility					46,000,000
Drawn on revolver credit facility					110,000,000
Revolving Credit Facility [Member] | Canada- IMTT [Member]
Debt Disclosure [Line Items]
Undrawn portion of line of credit					50,000,000
Term Loan Facility [Member] | Hawaii Gas Business [Member]
Debt Disclosure [Line Items]
Current and long-term debt				$ 80,000,000
2.875% Convertible senior notes due July 2019 [Member] | MIC Corporate [Member]
Debt Disclosure [Line Items]
Current and long-term debt					$ 350,000,000	350,000,000
Debt instrument, term					5 years
Interest Rate					2.875%
Maturity					Jul. 31, 2019
Fair value of Convertible senior notes					$ 387,200,000
2.875% Convertible senior notes due July 2019 [Member] | MIC Corporate [Member] | Subsequent Event [Member]
Debt Disclosure [Line Items]
Conversion rate	12.2946
Face value of convertible senior notes	$ 1,000
2.00% Convertible senior notes due October 2023 [Member] | MIC Corporate [Member]
Debt Disclosure [Line Items]
Current and long-term debt					$ 378,254,000	$ 376,759,000
Debt instrument, term					7 years
Interest Rate					2.00%
Maturity					Oct. 31, 2023
Fair value of Convertible senior notes					$ 377,900,000

Long-Term Debt (Schedule of Lon

Long-Term Debt (Schedule of Long-Term Debt) (Details) - USD ($) $ in Thousands		6 Months Ended
		Jun. 30, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Current and long-term Debt		$ 3,290,438	$ 3,123,002
Current portion		(45,544)	(40,016)
Long-term portion		3,244,894	3,082,986
Unamortized deferred financing costs	[1]	(39,161)	(43,020)
Long-term portion less unamortized debt discount and deferred financing costs		$ 3,205,733	3,039,966
Weighted Average Remaining Life Of Deferred Financing Costs		5.9 years
IMTT [Member]
Debt Instrument [Line Items]
Current and long-term Debt		$ 1,204,975	1,140,975
Atlantic Aviation [Member]
Debt Instrument [Line Items]
Current and long-term Debt		565,067	449,691
Contracted Power [Member]
Debt Instrument [Line Items]
Current and long-term Debt		592,175	604,862
MIC Hawaii [Member]
Debt Instrument [Line Items]
Current and long-term Debt		200,013	200,744
MIC Corporate [Member]
Debt Instrument [Line Items]
Current and long-term Debt		$ 728,208	$ 726,730
[1]	The weighted average remaining life of the deferred financing costs at June 30, 2017 was 5.9 years.

Long-Term Debt (Schedule of 2.0

Long-Term Debt (Schedule of 2.00% Convertible Senior Notes Due October 2023) (Details) - USD ($) $ in Thousands		6 Months Ended	12 Months Ended
		Jun. 30, 2017	Dec. 31, 2016
Long-term debt, net of unamortized debt discount		$ 3,290,438	$ 3,123,002
Unamortized deferred financing costs	[1]	(39,161)	(43,020)
Net carrying amount		3,205,733	3,039,966
MIC Corporate [Member]
Long-term debt, net of unamortized debt discount		728,208	726,730
MIC Corporate [Member] | 2.00% Convertible Senior Notes due October 2023 [Member]
Principal		402,500	402,500
Unamortized debt discount		(24,246)	(25,741)
Long-term debt, net of unamortized debt discount		378,254	376,759
Unamortized deferred financing costs		(9,395)	(9,934)
Net carrying amount		368,859	366,825
Equity Component		$ 26,748	$ 26,748
[1]	The weighted average remaining life of the deferred financing costs at June 30, 2017 was 5.9 years.

Long-Term Debt (Schedule of Tot

Long-Term Debt (Schedule of Total Interest Expense Recognized) (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Debt Instrument [Line Items]
Amortization of debt discount				$ 1,495	$ 0
Amortization of deferred financing costs				4,301	5,249
Total interest expense	[1]	$ 35,356	$ 39,502	60,838	$ 96,397
MIC Corporate [Member] | 2.00% Convertible Senior Notes due October 2023 [Member]
Debt Instrument [Line Items]
Contractual interest expense		2,013		3,757
Amortization of debt discount		876		1,495
Amortization of deferred financing costs		376		757
Total interest expense		$ 3,265		$ 6,009
[1]	Interest expense includes losses on derivative instruments of $7.7 million and $6.8 million for the quarter and six months ended June 30, 2017, respectively. For the quarter and six months ended June 30, 2016, interest expense includes losses on derivative instruments of $14.9 million and $46.7 million, respectively.

Derivative Instruments and He42

Derivative Instruments and Hedging Activities (Narrative) (Details) $ in Millions	Jun. 30, 2017USD ($)
Derivative [Line Items]
Long-term Debt, Gross	$ 3,300
Fixed rate debt	1,600
Unhedged debt	267.3
Interest Rate Contracts [Member]
Derivative [Line Items]
Debt economically hedged with interest rate contracts	$ 1,400

Derivative Instruments and He43

Derivative Instruments and Hedging Activities (Schedule of Fair Value of Derivative Instruments) (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Derivatives, Fair Value [Line Items]
Fair value of derivative instruments - current assets	$ 4,902	$ 5,514
Fair value of derivative instruments - noncurrent assets	19,432	30,781
Total derivative contracts - assets	24,334	36,295
Fair value of derivative instruments - current liabilities	(5,527)	(9,297)
Fair value of derivative instruments - noncurrent liabilities	(6,157)	(5,966)
Total derivative contracts - liabilities	$ (11,684)	$ (15,263)

Derivative Instruments and He44

Derivative Instruments and Hedging Activities (Schedule of Location of Hedging Activities) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Derivative Instruments, Gain (Loss) [Line Items]
(Loss) gain on derivative instruments	$ (7,362)	$ (10,955)	$ (10,392)	$ (40,475)
Interest Expense [Member] | Interest Rate Cap [Member]
Derivative Instruments, Gain (Loss) [Line Items]
(Loss) gain on derivative instruments	(2,536)	0	(2,669)	0
Interest Expense [Member] | Interest Rate Swaps [Member]
Derivative Instruments, Gain (Loss) [Line Items]
(Loss) gain on derivative instruments	(5,195)	(14,902)	(4,108)	(46,728)
Cost of product sales [Member] | Commodity swaps [Member]
Derivative Instruments, Gain (Loss) [Line Items]
(Loss) gain on derivative instruments	$ 369	$ 3,947	$ (3,615)	$ 6,253

Stockholders' Equity (Narrative

Stockholders' Equity (Narrative) (Details) - USD ($) $ in Millions	6 Months Ended	25 Months Ended
	Jun. 30, 2017	Jun. 30, 2017	May 18, 2016	Jun. 24, 2015
Shares Activity [Line Items]
Shares, authorized under Dividend Reinvestment Plan	1,000,000	1,000,000
Shares, unissued under Dividend Reinvestment Plan	902,397	902,397
Omnibus Employee Incentive Plan 2016 [Member]
Shares Activity [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized			500,000
At the Market [Member]
Shares Activity [Line Items]
Equity offering, shares		188,592
Proceeds from equity offering	$ 15.4
At the Market [Member] | Maximum [Member]
Shares Activity [Line Items]
Aggregate gross offering price				$ 400

Stockholders' Equity (Schedule

Stockholders' Equity (Schedule of Accumulated Other Comprehensive Loss) (Details) - USD ($) $ in Thousands		3 Months Ended			6 Months Ended
		Jun. 30, 2017	Jun. 30, 2016	Mar. 31, 2016	Jun. 30, 2017	Jun. 30, 2016
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance					$ 3,147,534
Translation adjustment	[1],[2]	$ 1,097	$ (2)		1,097	$ 3,561
Balance		3,031,516			3,031,516
Translation adjustment, taxes		$ (755)	$ 2		$ (755)	$ (1,500)
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)	$ (16,805)	$ (14,788)
Translation adjustment					0	0
Purchase of noncontrolling interest in Subsidiary	[3]					0
Balance		$ (16,805)	$ (14,788)		(16,805)	(14,788)
Translation Adjustment, net of taxes
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	[4]			(14,530)	(12,155)	(14,530)
Translation adjustment	[4]				1,097	3,561
Purchase of noncontrolling interest in Subsidiary	[3],[4]					0
Balance	[4]	(11,058)	(10,969)		(11,058)	(10,969)
Total Accumulated Other Comprehensive Loss, net of taxes
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance				(29,318)	(28,960)	(29,318)
Translation adjustment					1,097	3,561
Purchase of noncontrolling interest in Subsidiary	[3]					0
Balance		(27,863)	(25,757)		(27,863)	(25,757)
Accumulated Other Comprehensive Loss Attributable to Noncontrolling Interest [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance				6,023	0	6,023
Translation adjustment					0	(1,434)
Purchase of noncontrolling interest in Subsidiary						(4,589)	[3]
Balance		0	0		0	0
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 in Subsidiary				(4,600)
Total Stockholders' Accumulated Other Comprehensive Loss, net of taxes
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance				$ (23,295)	(28,960)	(23,295)
Translation adjustment					1,097	2,127
Purchase of noncontrolling interest in Subsidiary	[3]					(4,589)
Balance		$ (27,863)	$ (25,757)		$ (27,863)	$ (25,757)
[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 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 $755,000 for the quarter and six months ended June 30, 2017. For the quarter and six months ended June 30, 2016, translation adjustment is presented net of tax benefit of $2,000 and tax expense of $1.5 million, respectively.
[3]	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 accumulated other comprehensive loss.
[4]	Translation adjustment is presented net of tax expense of $755,000 and $1.5 million for the six months ended June 30, 2017 and 2016, respectively.

Reportable Segments (Narrative)

Reportable Segments (Narrative) (Details)	6 Months Ended
	Jun. 30, 2017ItemMW	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	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	70
Contracted Power [Member]
Segment Reporting Information [Line Items]
Equity interest acquired	100.00%
Number of solar projects	6
Number of wind power facilities	2
United States- IMTT [Member]
Segment Reporting Information [Line Items]
Number of marine terminals	10
MIC Hawaii [Member]
Segment Reporting Information [Line Items]
Number of solar projects	2
Bayonne Energy Center [Member]
Segment Reporting Information [Line Items]
Electricity generating capacity		512
Percentage of contracted tolling agreement		62.50%
Solar and Wind Power Facilities [Member] | Contracted Power [Member]
Segment Reporting Information [Line Items]
Electricity generating capacity	340

Reportable Segments (Schedule o

Reportable Segments (Schedule of Revenue From External Customers) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Segment Reporting Information [Line Items]
Service revenue	$ 345,045	$ 306,221	$ 708,849	$ 618,462
Product revenue	93,945	91,358	181,598	175,504
Total revenue	438,990	397,579	890,447	793,966
IMTT [Member]
Segment Reporting Information [Line Items]
Service revenue	137,144	128,218	275,961	263,643
Product revenue	0	0	0	0
Total revenue	137,144	128,218	275,961	263,643
Atlantic Aviation [Member]
Segment Reporting Information [Line Items]
Service revenue	196,939	179,218	409,692	357,206
Product revenue	0	0	0	0
Total revenue	196,939	179,218	409,692	357,206
Contracted Power [Member]
Segment Reporting Information [Line Items]
Service revenue	0	0	0	0
Product revenue	40,166	38,300	68,236	68,479
Total revenue	40,166	38,300	68,236	68,479
MIC Hawaii [Member]
Segment Reporting Information [Line Items]
Service revenue	12,193	0	25,650	0
Product revenue	53,779	53,058	113,362	107,025
Total revenue	65,972	53,058	139,012	107,025
Intersegment Revenue [Member]
Segment Reporting Information [Line Items]
Service revenue	(1,231)	(1,215)	(2,454)	(2,387)
Product revenue	0	0	0	0
Total revenue	$ (1,231)	$ (1,215)	$ (2,454)	$ (2,387)

Reportable Segments (Schedule49

Reportable Segments (Schedule of EBITDA for Reportable Segments) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Segment Reporting Information [Line Items]
Net income (loss)	$ 26,020	$ 19,192	$ 62,035	$ 41,547
Provision (benefit) for income taxes	17,664	16,220	39,737	31,387
Depreciation			114,744	112,883
Amortization of intangibles	15,898	16,713	33,591	34,500
Pension expense			4,321	4,395
Other non-cash expense (income)			(2,935)	(1,749)
Total Reportable Segments [Member]
Segment Reporting Information [Line Items]
Net income (loss)	48,684	34,697	97,260	65,118
Interest expense, net	28,644	35,919	47,941	89,376
Provision (benefit) for income taxes	31,201	26,005	65,705	50,583
Depreciation	57,063	59,662	114,744	112,883
Amortization of intangibles	15,898	16,713	33,591	34,500
Pension expense	1,627	2,197	4,321	4,395
Other non-cash expense (income)	(1,288)	(5,145)	2,389	(9,565)
EBITDA excluding non-cash items	181,829	170,048	365,951	347,290
IMTT [Member]
Segment Reporting Information [Line Items]
Net income (loss)	22,613	14,978	46,429	31,195
Interest expense, net	11,763	13,764	20,520	33,635
Provision (benefit) for income taxes	15,716	10,409	32,264	21,638
Depreciation	28,036	32,519	56,796	62,384
Amortization of intangibles	2,759	2,763	5,519	5,519
Pension expense	1,350	1,831	3,766	3,662
Other non-cash expense (income)	69	115	137	558
EBITDA excluding non-cash items	82,306	76,379	165,431	158,591
Atlantic Aviation [Member]
Segment Reporting Information [Line Items]
Net income (loss)	16,808	11,749	38,634	26,107
Interest expense, net	5,907	8,924	9,353	22,238
Provision (benefit) for income taxes	11,077	7,973	25,627	17,715
Depreciation	11,925	11,966	23,514	20,339
Amortization of intangibles	11,650	12,736	25,094	26,554
Pension expense	5	17	10	34
Other non-cash expense (income)	(22)	339	40	248
EBITDA excluding non-cash items	57,350	53,704	122,272	113,235
Contracted Power [Member]
Segment Reporting Information [Line Items]
Net income (loss)	4,292	(804)	2,353	(10,027)
Interest expense, net	8,767	11,002	14,150	28,850
Provision (benefit) for income taxes	1,845	1,917	1,872	(387)
Depreciation	13,754	12,740	27,987	25,479
Amortization of intangibles	1,107	1,107	2,214	2,214
Pension expense	0	0	0	0
Other non-cash expense (income)	(2,232)	(1,945)	(4,256)	(3,965)
EBITDA excluding non-cash items	27,533	24,017	44,320	42,164
MIC Hawaii [Member]
Segment Reporting Information [Line Items]
Net income (loss)	4,971	8,774	9,844	17,843
Interest expense, net	2,207	2,229	3,918	4,653
Provision (benefit) for income taxes	2,563	5,706	5,942	11,617
Depreciation	3,348	2,437	6,447	4,681
Amortization of intangibles	382	107	764	213
Pension expense	272	349	545	699
Other non-cash expense (income)	897	(3,654)	6,468	(6,406)
EBITDA excluding non-cash items	$ 14,640	$ 15,948	$ 33,928	$ 33,300

Reportable Segments (Schedule50

Reportable Segments (Schedule of Reconciliation of EBITDA for Reportable Segments) (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Segment Reporting Information [Line Items]
Interest income		$ 41	$ 25	$ 75	$ 58
Interest expense	[1]	(35,356)	(39,502)	(60,838)	(96,397)
Depreciation				(114,744)	(112,883)
Amortization of intangibles		(15,898)	(16,713)	(33,591)	(34,500)
Selling, general and administrative expenses - Corporate and Other		(82,967)	(72,430)	(159,919)	(144,714)
Fees to Manager - related party		(18,433)	(16,392)	(36,656)	(31,188)
Pension expense				(4,321)	(4,395)
Other income (expense), net		1,738	271	2,920	3,700
Total consolidated net income before income taxes		43,689	37,301	98,400	72,644
Total Reportable Segments [Member]
Segment Reporting Information [Line Items]
Total reportable segments EBITDA excluding non-cash items		181,829	170,048	365,951	347,290
Interest income		41	25	75	58
Interest expense		(35,356)	(39,502)	(60,838)	(96,397)
Depreciation		(57,063)	(59,662)	(114,744)	(112,883)
Amortization of intangibles		(15,898)	(16,713)	(33,591)	(34,500)
Fees to Manager - related party		(18,433)	(16,392)	(36,656)	(31,188)
Pension expense		(1,627)	(2,197)	(4,321)	(4,395)
Other income (expense), net		1,288	5,145	(2,389)	9,565
Total consolidated net income before income taxes		43,689	37,301	98,400	72,644
Total Reportable Segments [Member] | Corporate and Other [Member]
Segment Reporting Information [Line Items]
Selling, general and administrative expenses - Corporate and Other		$ (11,092)	$ (3,451)	$ (15,087)	$ (4,906)
[1]	Interest expense includes losses on derivative instruments of $7.7 million and $6.8 million for the quarter and six months ended June 30, 2017, respectively. For the quarter and six months ended June 30, 2016, interest expense includes losses on derivative instruments of $14.9 million and $46.7 million, respectively.

Reportable Segments (Schedule51

Reportable Segments (Schedule of Capital Expenditures) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Segment Reporting Information [Line Items]
Capital expenditures	$ 70,482	$ 56,141	$ 130,351	$ 118,734
Operating Segments [Member]
Segment Reporting Information [Line Items]
Capital expenditures	69,303	56,141	129,105	118,734
IMTT [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Capital expenditures	16,796	18,757	32,059	42,165
Atlantic Aviation [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Capital expenditures	14,851	20,618	34,096	41,889
Contracted Power [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Capital expenditures	30,321	11,138	49,500	16,978
MIC Hawaii [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Capital expenditures	7,335	5,628	13,450	17,702
Corporate and Other [Member]
Segment Reporting Information [Line Items]
Capital expenditures	$ 1,179	$ 0	$ 1,246	$ 0

Reportable Segments (Schedule52

Reportable Segments (Schedule of Assets of Reportable Segments) (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Segment Reporting Information [Line Items]
Property, Equipment, Land and Leasehold Improvements, net	$ 4,408,254	$ 4,346,536
Goodwill	2,031,720	2,024,409
Total Assets	7,634,911	7,559,253
Operating Segments [Member]
Segment Reporting Information [Line Items]
Property, Equipment, Land and Leasehold Improvements, net	4,405,129	4,346,504
Goodwill	2,031,720	2,024,409
Total Assets	7,629,040	7,561,362
Corporate, Non-Segment [Member]
Segment Reporting Information [Line Items]
Property, Equipment, Land and Leasehold Improvements, net	3,125	32
Goodwill	0	0
Total Assets	5,871	(2,109)
IMTT [Member]
Segment Reporting Information [Line Items]
Property, Equipment, Land and Leasehold Improvements, net	2,189,478	2,218,256
Goodwill	1,411,269	1,411,029
IMTT [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Total Assets	3,930,498	3,978,379
Atlantic Aviation [Member]
Segment Reporting Information [Line Items]
Property, Equipment, Land and Leasehold Improvements, net	499,991	465,096
Goodwill	475,415	468,419
Atlantic Aviation [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Total Assets	1,607,148	1,564,668
Contracted Power [Member]
Segment Reporting Information [Line Items]
Property, Equipment, Land and Leasehold Improvements, net	1,428,297	1,383,289
Goodwill	21,628	21,628
Contracted Power [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Total Assets	1,585,212	1,516,602
MIC Hawaii [Member]
Segment Reporting Information [Line Items]
Property, Equipment, Land and Leasehold Improvements, net	287,363	279,863
Goodwill	123,408	123,333
MIC Hawaii [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Total Assets	$ 506,182	$ 501,713

Related Party Transactions (Nar

Related Party Transactions (Narrative) (Details)	1 Months Ended		3 Months Ended							6 Months Ended
	Aug. 01, 2016USD ($)shares	Jul. 31, 2015USD ($)	Jun. 30, 2017USD ($)Contracts$ / sharesshares	Mar. 31, 2017USD ($)bbl	Dec. 31, 2016USD ($)$ / sharesshares	Sep. 30, 2016USD ($)	Jun. 30, 2016USD ($)	Mar. 31, 2016USD ($)	Jun. 30, 2015USD ($)	Jun. 30, 2017USD ($)$ / sharesshares	Jun. 30, 2016USD ($)bbl	Aug. 01, 2017$ / shares	Oct. 06, 2016USD ($)	Jun. 24, 2015USD ($)$ / shares
Related Party Transaction [Line Items]
Performance fees to be settled/settled in shares and cash									$ 135,600,000
Performance fee, settlement which is deferred	$ 67,800,000
Common stock, par value per share | $ / shares			$ 0.001		$ 0.001					$ 0.001		$ 0.001
Performance Fee To Manager Related Party Settled In Cash		$ 67,800,000
Number Of Shares Issued Subsequent For Performance Fees To Manager | shares	944,046
Atlantic Aviation [Member] | Revolving Credit Facility [Member]
Related Party Transaction [Line Items]
Borrowing capacity													$ 70,000,000
MIC Corporate [Member] | Revolving Credit Facility [Member]
Related Party Transaction [Line Items]
Borrowing capacity			$ 410,000,000							$ 410,000,000
At the Market [Member]
Related Party Transaction [Line Items]
Common stock, par value per share | $ / shares														$ 0.001
At the Market [Member] | Maximum [Member]
Related Party Transaction [Line Items]
Aggregate gross offering price														$ 400,000,000
Macquarie Infrastructure Management (USA) Inc. [Member]
Related Party Transaction [Line Items]
Shares of the Company held by Manager, a related party | shares			4,952,141		4,510,795					4,952,141
Base management fees to be settled/settled in shares			$ 18,433,000	$ 18,223,000	$ 18,916,000	$ 18,382,000	$ 16,392,000	$ 14,796,000		$ 36,700,000	$ 31,200,000
Performance fees to be settled/settled in shares and cash			0	$ 0	$ 0	$ 0	0	$ 0
Reimbursement of out-of-pocket expenses			156,000				233,000			445,000	$ 304,000
MENAT [Member] | IMTT [Member]
Related Party Transaction [Line Items]
Capacity Leased To Related Party | bbl				200,000							721,000
Revenue from related party			$ 294,000				1,800,000			907,000	$ 3,000,000
Number Of Contracts | Contracts			0
MIHI LLC [Member] | MIC Corporate [Member] | Revolving Credit Facility [Member]
Related Party Transaction [Line Items]
Borrowing capacity			$ 50,000,000							50,000,000
Interest costs incurred			$ 35,000				62,000			$ 69,000	102,000
MBL [Member] | Atlantic Aviation [Member] | Revolving Credit Facility [Member]
Related Party Transaction [Line Items]
Borrowing capacity													$ 15,700,000
Interest costs incurred							$ 29,000				$ 58,000

Related Party Transactions (Sch

Related Party Transactions (Schedule of Dividends Paid to Manager) (Details) $ / shares in Units, $ in Thousands	6 Months Ended
	Jun. 30, 2017USD ($)$ / shares
Dividend One [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 Two [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 | $	$ 6,981
Dividend Three [Member]
Dividends Payable [Line Items]
Declared	Jul. 28, 2016
Period Covered	Second quarter 2016
$ per Share | $ / shares	$ 1.25
Record Date	Aug. 11, 2016
Payable Date	Aug. 16, 2016
Cash Paid to Manager | $	$ 8,743
Dividend Four [Member]
Dividends Payable [Line Items]
Declared	Oct. 27, 2016
Period Covered	Third quarter 2016
$ per Share | $ / shares	$ 1.29
Record Date	Nov. 10, 2016
Payable Date	Nov. 15, 2016
Cash Paid to Manager | $	$ 5,620
Dividend Five [Member]
Dividends Payable [Line Items]
Declared	Feb. 17, 2017
Period Covered	Fourth quarter 2016
$ per Share | $ / shares	$ 1.31
Record Date	Mar. 3, 2017
Payable Date	Mar. 8, 2017
Cash Paid to Manager | $	$ 6,080
Dividend Six [Member]
Dividends Payable [Line Items]
Declared	May 2, 2017
Period Covered	First quarter 2017
$ per Share | $ / shares	$ 1.32
Record Date	May 15, 2017
Payable Date	May 18, 2017
Cash Paid to Manager | $	$ 6,332
Dividend Seven [Member]
Dividends Payable [Line Items]
Declared	Aug. 1, 2017
Period Covered	Second quarter 2017
$ per Share | $ / shares	$ 1.38
Record Date	Aug. 14, 2017
Payable Date	Aug. 17, 2017
Cash Paid to Manager | $		[1]
[1]	The amount of dividends payable to the Manager for the second quarter of 2017 will be determined on August 14, 2017, the record date.

Related Party Transactions (S55

Related Party Transactions (Schedule of Base Management Fees and Performance Fees) (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended								6 Months Ended
	Jul. 31, 2017	Jun. 30, 2017		Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Jun. 30, 2015	Jun. 30, 2017	Jun. 30, 2016
Common Stock Equity [Line Items]
Performance fees to be settled/settled in shares and cash									$ 135,600
Shares Issued		233,394
Subsequent Event [Member]
Common Stock Equity [Line Items]
Shares issued subsequent, for base management fees to manager	77,860
Macquarie Infrastructure Management (USA) Inc. [Member]
Common Stock Equity [Line Items]
Base management fees to be settled/settled in shares		$ 18,433		$ 18,223	$ 18,916	$ 18,382	$ 16,392	$ 14,796		$ 36,700	$ 31,200
Performance fees to be settled/settled in shares and cash		$ 0		$ 0	$ 0	$ 0	$ 0	$ 0
Shares Issued		233,394	[1]	232,398	230,773	232,488	232,835	234,179
[1]	The Manager elected to reinvest all of the monthly base management fees for the second quarter of 2017 in shares. The Company issued 233,394 shares for the quarter ended June 30, 2017, including 77,860 shares that were issued in July 2017 for the June 2017 monthly base management fee.

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details)	6 Months Ended
	Jun. 30, 2017
Earliest Tax [Member]
Components of Income Taxes [Line Items]
Net operating loss carry-forwards, expiration date	Dec. 31, 2028
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) $ / shares in Units, $ in Millions	1 Months Ended
	Aug. 01, 2017USD ($)$ / sharesMMBbls	Jun. 30, 2017
IMTT [Member]
Subsequent Event [Line Items]
Number Of Marine Terminals		10
Subsequent Event [Member]
Subsequent Event [Line Items]
Cash dividend declared, date declared	Aug. 1, 2017
Cash dividend declared per share | $ / shares	$ 1.38
Cash dividend declared, date to be paid	Aug. 17, 2017
Cash dividend declared, date of record	Aug. 14, 2017
Subsequent Event [Member] | IMTT [Member]
Subsequent Event [Line Items]
Business acquisition, purchase price	$ 171.5
Business Combination, acquisition issuance	$ 125
Number Of Marine Terminals	7
Capacity Storage | MMBbls	3.1