Macquarie Infrastructure 10-Q 31 Oct 19 2019 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2019	Oct. 29, 2019
Cover page.
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2019
Document Transition Report	false
Entity File Number	001-32384
Entity Registrant Name	MACQUARIE INFRASTRUCTURE CORPORATION
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	43-2052503
Entity Address, Address Line One	125 West 55th Street
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10019
City Area Code	212
Local Phone Number	231-1000
Title of 12(b) Security	Common Stock, par value $0.001 per share
Trading Symbol	MIC
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		86,462,375
Amendment Flag	false
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q3
Entity Central Index Key	0001289790
Current Fiscal Year End Date	--12-31

CONSOLIDATED CONDENSED BALANCE

CONSOLIDATED CONDENSED BALANCE SHEETS - USD ($) $ in Millions		Sep. 30, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents		$ 473	$ 589
Restricted cash		1	23
Accounts receivable, net of allowance for doubtful accounts		89	95
Inventories		29	29
Prepaid expenses		15	13
Other current assets		23	23
Current assets held for sale	[1]	0	648
Total current assets		630	1,420
Property, equipment, land and leasehold improvements, net		3,153	3,141
Operating lease assets, net		330	0
Investment in unconsolidated business		9	8
Goodwill		2,043	2,043
Intangible assets, net		745	789
Other noncurrent assets		14	43
Total assets		6,924	7,444
Current liabilities:
Due to Manager-related party		3	3
Accounts payable		48	38
Accrued expenses		80	86
Current portion of long-term debt		11	361
Operating lease liabilities – current		20	0
Income taxes payable		47	0
Other current liabilities		40	33
Current liabilities held for sale	[1]	0	317
Total current liabilities		249	838
Long-term debt, net of current portion		2,654	2,653
Deferred income taxes		665	681
Operating lease liabilities – noncurrent		314	0
Other noncurrent liabilities		159	155
Total liabilities		4,041	4,327
Commitments and contingencies		0	0
Stockholders' equity:
Additional paid in capital	[2]	1,276	1,510
Accumulated other comprehensive loss	[2]	(29)	(30)
Retained earnings	[2]	1,627	1,485
Total stockholders’ equity	[2]	2,874	2,965
Noncontrolling interests	[3]	9	152
Total equity		2,883	3,117
Total liabilities and equity		$ 6,924	$ 7,444
[1]	See Note 3, “Discontinued Operations and Dispositions”, for further discussion on assets and liabilities held for sale.
[2]	The Company is authorized to issue the following classes of stock: (i) 500,000,000 shares of common stock, par value $0.001 per share. At September 30, 2019 and December 31, 2018 , the Company had 86,394,716 shares and 85,800,303 shares of common stock issued and outstanding, respectively; (ii) 100,000,000 shares of preferred stock, par value $0.001 per share. At September 30, 2019 and December 31, 2018 , no preferred stocks were issued or outstanding; and (iii) 100 shares of special stock, par value $0.001 per share, issued and outstanding to its Manager as at September 30, 2019 and December 31, 2018 .
[3]	Includes $141 million of noncontrolling interest related to discontinued operations at December 31, 2018 . See Note 3, “Discontinued Operations and Dispositions”, for further discussions.

CONSOLIDATED CONDENSED BALANC_2

CONSOLIDATED CONDENSED BALANCE SHEETS (Parentheticals) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Common stock, shares authorized (in shares)	500,000,000	500,000,000
Common stock, par value per share (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares issued (in shares)	86,394,716	85,800,303
Common stock, shares outstanding (in shares)	86,394,716	85,800,303
Preferred stock, shares authorized (in shares)	100,000,000	100,000,000
Preferred stock, par value per share (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Special stock, shares issued (in shares)	100	100
Special stock, par value per share (in dollars per share)	$ 0.001	$ 0.001
Special stock, shares outstanding (in shares)	100	100
Minority interest		$ 141

CONSOLIDATED CONDENSED STATEMEN

CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Revenue
Total revenue		$ 405	$ 421	$ 1,303	$ 1,324
Costs and expenses
Selling, general and administrative		81	78	245	240
Fees to Manager-related party		8	12	23	36
Goodwill impairment		0	3	0	3
Depreciation		49	49	145	143
Amortization of intangibles		14	20	44	53
Total operating expenses		349	368	1,069	1,137
Operating income		56	53	234	187
Other income (expense)
Interest income		2	0	6	0
Interest expense	[1]	(36)	(28)	(124)	(71)
Other (expense) income, net		0	(21)	2	(15)
Net income from continuing operations before income taxes		22	4	118	101
Provision for income taxes		(7)	(2)	(33)	(32)
Net income (loss)		15	2	85	69
Discontinued Operations
Net income from discontinued operations before income taxes	[2]	78	26	86	41
Provision for income taxes	[2]	(32)	(6)	(32)	(5)
Net income from discontinued operations	[2]	46	20	54	36
Net income		61	22	139	105
Net income (loss)		15	2	85	69
Net income from continuing operations attributable to MIC		15	2	85	69
Net income from discontinued operations	[2]	46	20	54	36
Less: net loss attributable to noncontrolling interests		0	0	(3)	(32)
Net income from discontinued operations attributable to MIC		46	20	57	68
Net income attributable to MIC		$ 61	$ 22	$ 142	$ 137
Basic income per share from continuing operations attributable to MIC (in dollars per share)		$ 0.18	$ 0.02	$ 0.99	$ 0.81
Basic income per share from discontinued operations attributable to MIC (in dollars per share)		0.53	0.23	0.67	0.80
Basic income per share attributable to MIC (in dollars per share)		$ 0.71	$ 0.25	$ 1.66	$ 1.61
Weighted average number of shares outstanding: basic (in shares)		86,276,237	85,378,088	86,075,394	85,095,956
Diluted income per share from continuing operations attributable to MIC (in dollars per share)		$ 0.18	$ 0.02	$ 0.99	$ 0.81
Diluted income per share from discontinued operations attributable to MIC (in dollars per share)		0.53	0.23	0.67	0.80
Diluted income per share attributable to MIC (in dollars per share)		$ 0.71	$ 0.25	$ 1.66	$ 1.61
Weighted average number of shares outstanding: diluted (in shares)		86,303,694	85,398,566	86,101,022	85,109,213
Cash dividends declared per share (in dollars per share)		$ 1	$ 1	$ 3	$ 3
Service
Revenue
Total revenue		$ 347	$ 361	$ 1,120	$ 1,140
Costs and expenses
Cost of goods and services sold		154	167	484	534
Product
Revenue
Total revenue		58	60	183	184
Costs and expenses
Cost of goods and services sold		$ 43	$ 39	$ 128	$ 128
[1]	Interest expense includes losses on derivative instruments of $2 million and $14 million for the quarter and nine months ended September 30, 2019 , respectively. Interest expense includes gains on derivative instruments of $3 million and $17 million for the quarter and nine months ended September 30, 2018 , respectively.
[2]	See Note 3, “Discontinued Operations and Dispositions”, for discussions on businesses classified as held for sale.

CONSOLIDATED CONDENSED STATEM_2

CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS (Parentheticals) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Gain (loss) on derivative instruments	$ (8)	$ 5	$ (25)	$ 20
Interest Expense
Gain (loss) on derivative instruments	$ (2)	$ 3	$ (14)	$ 17

CONSOLIDATED CONDENSED STATEM_3

CONSOLIDATED CONDENSED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Statement of Comprehensive Income [Abstract]
Net income		$ 61	$ 22	$ 139	$ 105
Other comprehensive (loss) income, net of taxes:
Translation adjustment	[1]	(1)	1	1	(2)
Other comprehensive (loss) income		(1)	1	1	(2)
Comprehensive income		60	23	140	103
Less: comprehensive loss attributable to noncontrolling interests		0	0	(3)	(32)
Comprehensive income attributable to MIC		$ 60	$ 23	$ 143	$ 135
[1]	Translation adjustment is presented net of tax expense of $1 million and tax benefit of $1 million for the nine months ended September 30, 2019 and 2018 , respectively.

CONSOLIDATED CONDENSED STATEM_4

CONSOLIDATED CONDENSED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Statement of Comprehensive Income [Abstract]
Translation adjustment, net of tax expense (benefit)	$ 1	$ (1)

CONSOLIDATED CONDENSED STATEM_5

CONSOLIDATED CONDENSED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Millions		Total	Manager	Independent Directors	Special Stock	Common Stock		Common StockManager	Common StockIndependent Directors	Additional Paid In Capital	Additional Paid In CapitalManager	Additional Paid In CapitalIndependent Directors	Accumulated Other Comprehensive Loss	Retained Earnings	Total Stockholders’ Equity	Total Stockholders’ EquityManager	Total Stockholders’ EquityIndependent Directors	Noncontrolling Interests
Beginning balance (in shares) at Dec. 31, 2017					100	84,733,957	[1]
Beginning balance at Dec. 31, 2017		$ 3,350								$ 1,840			$ (30)	$ 1,343	$ 3,153			$ 197	[2]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of shares (in shares)	[1]					1,916		805,194	9,435
Issuance of shares		0	$ 37	$ 1							$ 37	$ 1				$ 37	$ 1
Issuance of shares pursuant to conversion of convertible senior notes (in shares)	[1]					74
Issuance of shares pursuant to conversion of convertible senior notes		0
Dividends to common stockholders	[3]	(293)								(293)					(293)
Distributions to noncontrolling interests		(3)																(3)	[2]
Contributions from noncontrolling interests		1																1	[2]
Comprehensive (loss) income, net of taxes		103											(2)	137	135			(32)	[2]
Ending balance (in shares) at Sep. 30, 2018					100	85,550,576	[1]
Ending balance at Sep. 30, 2018		3,196								1,585			(32)	1,480	3,033			163	[2]
Beginning balance (in shares) at Jun. 30, 2018					100	85,186,385	[1]
Beginning balance at Jun. 30, 2018		3,244								1,656			(33)	1,458	3,081			163	[2]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of shares (in shares)	[1]							364,191
Issuance of shares			15								15					15
Dividends to common stockholders	[3]	(86)								(86)					(86)
Distributions to noncontrolling interests		(1)																(1)	[2]
Contributions from noncontrolling interests		1																1	[2]
Comprehensive (loss) income, net of taxes		23											1	22	23
Ending balance (in shares) at Sep. 30, 2018					100	85,550,576	[1]
Ending balance at Sep. 30, 2018		3,196								1,585			(32)	1,480	3,033			163	[2]
Beginning balance (in shares) at Dec. 31, 2018					100	85,800,303	[1]
Beginning balance at Dec. 31, 2018		3,117								1,510			(30)	1,485	2,965			152
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of shares (in shares)	[1]							570,767	23,646
Issuance of shares			23	$ 1							23	$ 1				23	$ 1
Dividends to common stockholders	[3]	(258)								(258)					(258)
Distributions to noncontrolling interests		(3)																(3)
Deconsolidation of noncontrolling interests		(137)																(137)
Comprehensive (loss) income, net of taxes		140											1	142	143			(3)
Ending balance (in shares) at Sep. 30, 2019					100	86,394,716	[1]
Ending balance at Sep. 30, 2019		2,883								1,276			(29)	1,627	2,874			9
Beginning balance (in shares) at Jun. 30, 2019					100	86,195,946	[1]
Beginning balance at Jun. 30, 2019		3,038								1,354			(28)	1,566	2,892			146
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of shares (in shares)	[1]							198,770
Issuance of shares			$ 8								$ 8					$ 8
Dividends to common stockholders	[3]	(86)								(86)					(86)
Deconsolidation of noncontrolling interests		(137)																(137)
Comprehensive (loss) income, net of taxes		60											(1)	61	60
Ending balance (in shares) at Sep. 30, 2019					100	86,394,716	[1]
Ending balance at Sep. 30, 2019		$ 2,883								$ 1,276			$ (29)	$ 1,627	$ 2,874			$ 9
[1]	The Company is authorized to issue 500,000,000 shares of common stock with a par value $0.001 per share.
[2]	Includes $149 million of noncontrolling interest related to discontinued operations at September 30, 2018 . See Note 3, “Discontinued Operations and Dispositions”, for further discussions.
[3]	See Note 14, “Related Party Transactions”, for cash dividends paid on shares for each period.

CONSOLIDATED CONDENSED STATEM_6

CONSOLIDATED CONDENSED STATEMENTS OF STOCKHOLDERS' EQUITY (Parentheticals) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018	Sep. 30, 2018
Statement of Stockholders' Equity [Abstract]
Common stock, shares authorized (in shares)	500,000,000	500,000,000	500,000,000
Common stock, par value per share (in dollars per share)	$ 0.001	$ 0.001	$ 0.001
Noncontrolling interests		$ 141	$ 149

CONSOLIDATED CONDENSED STATEM_7

CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Operating activities
Net income from continuing operations	$ 85	$ 69
Adjustments to reconcile net income to net cash provided by operating activities from continuing operations:
Goodwill impairment	0	3
Depreciation and amortization of property and equipment	145	143
Amortization of intangible assets	44	53
Amortization of debt financing costs	7	6
Amortization of debt discount	3	3
Adjustments to derivative instruments	29	(9)
Fees to Manager-related party	23	36
Deferred taxes	20	21
Other non-cash expense, net	12	26
Changes in other assets and liabilities, net of acquisitions:
Accounts receivable	4	13
Inventories	(1)	(2)
Prepaid expenses and other current assets	(10)	1
Accounts payable and accrued expenses	5	6
Income taxes payable	47	1
Other, net	3	(4)
Net cash provided by operating activities from continuing operations	416	366
Investing activities
Acquisitions of businesses and investments, net of cash, cash equivalents and restricted cash acquired	0	(13)
Purchases of property and equipment	(172)	(131)
Loan to project developer	(1)	(18)
Loan repayment from project developer	16	17
Proceeds from sale of business, net of cash divested	0	41
Other, net	(3)	0
Net cash used in investing activities from continuing operations	(160)	(104)
Financing activities
Proceeds from long-term debt	0	276
Payment of long-term debt	(358)	(204)
Contributions received from noncontrolling interests	0	1
Dividends paid to common stockholders	(258)	(293)
Debt financing costs paid	(1)	(3)
Net cash used in financing activities from continuing operations	(617)	(223)
Net change in cash, cash equivalents and restricted cash from continuing operations	(361)	39
Cash flows (used in) provided by discontinued operations:
Net cash (used in) provided by operating activities	(57)	47
Net cash provided by (used in) investing activities	239	(28)
Net cash provided by (used in) financing activities	24	(23)
Net cash provided by (used in) discontinued operations	206	(4)
Net change in cash, cash equivalents and restricted cash	(155)	35
Cash, cash equivalents and restricted cash, beginning of period	629	72
Cash, cash equivalents and restricted cash, end of period	474	107
Non-cash investing and financing activities:
Accrued purchases of property and equipment	18	20
Issuance of shares to Manager	23	37
Issuance of shares to independent directors	1	1
Taxes paid, net	9	11
Interest paid, net	$ 95	$ 73

CONSOLIDATED CONDENSED STATEM_8

CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (Parenthetical) - USD ($) $ in Millions		Sep. 30, 2019	Sep. 30, 2018
Statement of Cash Flows [Abstract]
Cash and cash equivalents		$ 473	$ 49
Restricted cash – current		1	23
Cash, cash equivalents and restricted cash included in assets held for sale	[1]	0	35
Total of cash, cash equivalents and restricted cash shown in the consolidated condensed statement of cash flows		$ 474	$ 107
[1]	Represents cash, cash equivalents and restricted cash related to businesses classified as held for sale. See Note 3, “Discontinued Operations and Dispositions”, for further discussion.

Organization and Description of

Organization and Description of Business	9 Months Ended
	Sep. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Description of Business	Organization and Description of Business Macquarie Infrastructure Corporation (MIC) 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, subject to the oversight and supervision of the Board. The majority of the members of the Board, and the members of all Board committees, are independent and have no affiliation with Macquarie. The Manager is a member of the Macquarie Group of companies comprising Macquarie Group Limited and its subsidiaries and affiliates worldwide. Macquarie Group Limited is headquartered in Australia and is listed on the Australian Securities 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 portfolio of infrastructure and infrastructure-like businesses that provide services to corporations, government agencies and individual customers primarily in the United States (U.S.). The businesses are organized into four segments: • International-Matex Tank Terminals (IMTT): a business providing bulk liquid terminalling to third parties at 17 terminals in the U.S. and two in Canada; • Atlantic Aviation: a provider of fuel, terminal, aircraft hangaring and other services primarily to owners and operators of general aviation (GA) jet aircraft at 70 airports throughout the U.S.; • MIC Hawaii: comprising an energy company that processes and distributes gas and provides related services (Hawaii Gas) and several smaller businesses collectively engaged in efforts to reduce the cost and improve the reliability and sustainability of energy in Hawaii; and • Corporate and Other: comprising MIC Corporate (holding company) and a shared services center.

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2019
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The unaudited consolidated condensed financial statements have been prepared in accordance with generally accepted accounting principles (GAAP) in the U.S. 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, 2018 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, 2018 included in the Company’s Annual Report on Form 10-K, as filed with the SEC on February 20, 2019. Operating results for the quarter and nine months ended September 30, 2019 are not necessarily indicative of the results that may be expected for the year ending December 31, 2019 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. Financial Instruments The Company’s financial instruments, including cash and cash equivalents, accounts receivable, accounts payable and variable-rate senior debt, are carried at cost, which approximates their fair value because of either the short-term maturity or competitive interest rates assigned to these financial instruments. The fair values of the Company’s other debt instruments fall within level 1 or level 2 of the fair value hierarchy. At September 30, 2019 , the Company had $78 million of commercial paper included in cash and cash equivalents . Commercial paper consists of maturities of three months or less and are issued by counterparties with a Standard & Poor rating of A1+. The Company did no t have any commercial paper at December 31, 2018 . Income Taxes The Company expects to incur federal consolidated taxable income from continuing operations for the year ending December 31, 2019 , which will be fully offset by the Company’s net operating loss (NOL) carryforwards and investment tax credit (ITC) carryforwards. The Company believes that it will be able to utilize all of its federal prior year NOL carryforwards and ITC carryforwards in the current year. Recently Issued Accounting Standards In August 2018, the FASB issued ASU No. 2018-14, Compensation — Retirement Benefits — Defined Benefit Plans — General (Subtopic 715-20): Disclosure Framework — Changes to the Disclosure Requirements for Defined Benefit Plans . The amendments in ASU 2018-14 update disclosure requirements for employers that sponsor defined benefit pension or other postretirement plans. The amendments in this update are effective for fiscal years ending after December 15, 2020. Early adoption is permitted. The Company will include appropriate disclosures related to defined benefit plans in accordance with the standard when it adopts the provisions of this ASU. In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework — Changes to the Disclosure Requirements for Fair Value Measurement . The amendments in ASU 2018-13 update the disclosure requirements on fair value measurements, including the consideration of costs and benefits. The disclosure modifications focused on Level 3 fair value measurements, and also eliminate the minimum disclosure requirements. The amendments in this update are effective for annual periods beginning after December 15, 2019, and interim periods within those fiscal years. The amendments on changes in unrealized gains and losses, the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements, and the narrative description of measurement uncertainty should be applied prospectively for only the most recent interim or annual period presented in the initial fiscal year of adoption. All other amendments should be applied retrospectively to all periods presented upon their effective date. Early adoption is permitted upon issuance of this Update. An entity is permitted to early adopt any removed or modified disclosures upon issuance of this Update and delay adoption of the additional disclosures until their effective date. The Company is currently evaluating the impact of the adoption of this ASU.

Discontinued Operations and Dis

Discontinued Operations and Dispositions	9 Months Ended
	Sep. 30, 2019
Discontinued Operations and Disposal Groups [Abstract]
Discontinued Operations and Dispositions	Discontinued Operations and Dispositions The Company accounts for disposals that represent a strategic shift that should have or will have a major effect on operations as discontinued operations. The results of discontinued operations are reported in discontinued operations in the consolidated condensed statement of operations for current and prior periods commencing in the period in which the business or group of businesses meets the criteria of a discontinued operation. These results include any gain or loss recognized on disposal or adjustment of the carrying amount to fair value less cost to sell. Bayonne Energy Center (BEC) Sale On October 12, 2018, the Company concluded the sale of BEC and received cash of $657 million , net of the assumption of the outstanding debt balance of $244 million by the buyer and subject to post-closing working capital adjustments, resulting in a loss of approximately $17 million (excluding any transaction costs). During the year ended December 31, 2018 , the Company incurred $9 million in professional fees in relation to this transaction, which was included in selling, general and administrative expenses in the consolidated statement of operations. The Company guaranteed its subsidiary’s payment and certain post-closing indemnity obligations under the purchase agreement. Renewable Businesses Sale During the fourth quarter of 2018, the Company commenced a sale process involving its portfolios of 142 megawatts (MW) (gross) of solar generation assets and 203 MW (gross) of wind generation assets. In July 2019, the Company completed the sales of its wind power generating portfolio and all but one of the assets in its solar power generating portfolio. The sale of the remaining solar facility closed during September 2019. Upon closing of the transactions involving the portfolios of operating solar and wind assets, MIC deconsolidated $295 million of long-term debt. In July 2019, the Company also completed the sale of its majority interest in a renewable power development business. The Company may be entitled to a deferred purchase price from the sale of its interest in the renewable power development business based on the sale of certain projects by the purchaser in the future. The aggregate gross proceeds to the Company from the above sales are approximately $275 million , or approximately $210 million net of taxes and transaction related expenses. Upon closing of the transactions, the Company recorded a pre-tax gain of approximately $80 million excluding any transaction costs. The Company incurred approximately $10 million in professional fees in relation to these transactions, which is included in selling, general and administrative expenses in the consolidated condensed statement of operations. For the year ending December 31, 2019, the Company expects to record approximately $55 million in current taxes payable, of which $ 9 million was paid during September 2019, primarily related to the gain on sale. The combination of the disposal of BEC and the commencement of the sale process of substantially all of its portfolio of solar and wind facilities represented a strategic shift for the Company that will have a major effect on operations. Accordingly, beginning in the fourth quarter of 2018 , these businesses were classified as discontinued operations and the Contracted Power segment was eliminated. There was no write-down of the carrying amount of the solar and wind facility assets as a result of this change in classification. The assets and liabilities of the solar and wind facilities have been classified as held for sale in the consolidated condensed balance sheets up until the date those assets are disposed. All prior periods have been restated to reflect these changes. During the first quarter of 2019, the Company also commenced the sale of its majority interest in its renewable power development business that was reported as part of the Company’s Corporate and Other segment in the fourth quarter of 2018. Accordingly, beginning in the first quarter of 2019, the results of this business were classified as discontinued operations and the assets and liabilities of this business have been classified as held for sale in the consolidated condensed balance sheets through the date of sale. The Company did not restate the prior period related to the commencement of the sale process involving its majority interest in a renewable power development business as the disposition is insignificant. A remaining relationship with a third-party developer of renewable power facilities has been reported as a component of Corporate and Other through the expiration of the relationship in July 2019. The following is a summary of the assets and liabilities held for sale included in the Company’s consolidated condensed balance sheets related to its former Contracted Power segment as of December 31, 2018 ($ in millions): December 31, 2018 Assets Cash and cash equivalents $ 3 Restricted cash 14 Accounts receivable, net 9 Other current assets 5 Total current assets 31 Property, equipment, land and leasehold improvements, net 606 Intangible assets, net 9 Other noncurrent assets 2 Total assets $ 648 Liabilities Accounts payable and accrued expenses $ 7 Current portion of long-term debt 20 Other current liabilities 1 Total current liabilities 28 Long term debt, net of current portion 283 Other noncurrent liabilities 6 Total liabilities $ 317 Noncontrolling interests $ 141 Summarized financial information for discontinued operations included in the Company’s consolidated condensed statement of operations for the quarters and nine months ended September 30, 2019 and 2018 are as follows ($ in millions): Quarter Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Product revenue $ 10 $ 52 $ 44 $ 129 Cost of product sales (1 ) (8 ) (7 ) (20 ) Selling, general & administrative expenses (11 ) (8 ) (18 ) (22 ) Depreciation and amortization — (8 ) — (38 ) Interest expense, net (1 ) (5 ) (13 ) (11 ) Other income, net (1) 81 3 80 3 Net income from discontinued operations before income taxes $ 78 $ 26 $ 86 $ 41 Provision for income taxes (32 ) (6 ) (32 ) (5 ) Net income from discontinued operations $ 46 $ 20 $ 54 $ 36 Less: net loss attributable to noncontrolling interests — — (3 ) (32 ) Net income from discontinued operations attributable to MIC $ 46 $ 20 $ 57 $ 68 _______ (1) Includes approximately $80 million of gain on sale from the renewable businesses described above. Other Dispositions The Company reviews strategic options available, including with respect to certain other, smaller businesses in its portfolio in an effort to rationalize its portfolio and enhance the infrastructure characteristics of its businesses. Consistent with this, the Company sold (i) an environmental services business by IMTT in April 2018; (ii) its equity interests in projects involving two properties in May 2018; and (iii) the mechanical contractor business within MIC Hawaii in November 2018. Collectively, the sale of these business is insignificant and do not qualify for discontinued operations. Prior to the execution of the sale agreement for the mechanical contractor business, the Company wrote-down the value of its investment in this business to reflect its underperformance during the third quarter of 2018 . In total, the Company wrote-down approximately $30 million , including fixed assets and intangible assets of approximately $9 million , as well as reserving for certain contract related amounts recorded in other current liabilities and other expenses.

Implementation of ASU 2016-2

Implementation of ASU 2016-2	9 Months Ended
	Sep. 30, 2019
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
Implementation of ASU 2016-2	Implementation of ASU 2016-2 On February 25, 2016, FASB issued ASU No. 2016-2, Leases (Topic 842) , which requires a lessee to recognize assets and liabilities for leases with lease terms of more than 12 months. The recognition, measurement and presentation of expenses and cash flows arising from a lease by a lessee primarily will depend on its classification as a finance or operating lease. However, unlike current GAAP, which requires only capital leases to be recognized on the balance sheet, ASU 2016-2 requires all leases with an initial term greater than one year to be recognized on the balance sheet as a right-of-use (ROU) asset and a lease liability. The Company also serves as a lessor primarily through operating leases. The accounting for lessors has not fundamentally changed except for changes to conform and align existing guidance to the lessee guidance under ASU 2016-2, as well as to the revenue recognition guidance in ASC 606, Revenue . The substantial population of the Company’s newly recognized ROU assets and lease liabilities relate to Atlantic Aviation’s operating leases of land, buildings and certain equipment. ROU assets represent the Company’s right to use an underlying asset for the lease term and the lease liabilities represent the Company’s obligation to make lease payments arising from the lease. ROU assets and lease liabilities are recognized at the lease commencement date based on the estimated present value of lease payments over the lease term. The considerations given for the incremental borrowing rate used in determining the present value of lease payments were the Company’s recent debt refinancing and amendment during 2018 and the Company’s credit rating. Upon adoption of ASU No. 2016-2, the Company recorded ROU assets and corresponding lease liabilities of $351 million and $358 million , respectively, of which $19 million and $21 million related to asset and liabilities held for sale, respectively. The adoption of this ASU did not have a material impact on its consolidated condensed statements of operations, liquidity or debt covenant compliance under its current agreements. The Company adopted the standard effective January 1, 2019 utilizing the modified retrospective method, which allowed the Company, where it was the lessee or lessor to recognize and measure leases at the beginning of the period of adoption without modifying the comparative period financial statements. The Company elected the package of practical expedients permitted under the transition guidance within the new standard, which among other things, allowed the Company to carryforward the historical lease classification. The Company also made an accounting policy election to keep leases with an initial term of 12 months or less off the balance sheet. Further, the standard did not have a material impact on the accounting and reporting requirements for existing operating leases where the Company is the lessor as it has elected the practical expedient whereby the Company will not separate a qualifying contract into its lease and non-lease components. The Company also determined that the accounting for sales taxes, certain lessor costs and certain requirements related to variable payments in contracts did not have a material effect on the consolidated condensed balance sheet, statement of operations or statement of cash flows.

Leases

Leases	9 Months Ended
	Sep. 30, 2019
Leases [Abstract]
Leases	Leases The Company has operating leases primarily for land, buildings, office space and certain office equipment under non-cancellable lease agreements. Leases with an initial term of 12 months or less are not recorded on the consolidated condensed balance sheet. Some leases include one or more options to renew, with renewal terms that can extend the lease term from one to 10 years or more. The exercise of these lease renewal options is at the Company’s sole discretion. Cash paid for operating leases is reported in operating activities on the consolidated condensed statement of cash flows. For the quarter and nine months ended September 30, 2019 , the Company’s operating lease expenses recorded within the consolidated condensed statement of operations were as follows ($ in millions): Income Statement Classification Quarter Ended Nine Months Ended September 30, 2019 Cost of services $ 1 $ 2 Cost of product sales — 1 Selling, general and administrative 13 38 Total operating lease expense (1) $ 14 $ 41 ___________ (1) Includes leases less than one year, which were not significant. At September 30, 2019 , the weighted-average remaining operating lease term was 18.7 years and the weighted average discount rate was 8.6% . The following table represents the future maturities of lease liabilities at September 30, 2019 ($ in millions): 2019 remaining $ 11 2020 46 2021 44 2022 42 2023 42 Thereafter 540 Total lease payment $ 725 Less: interest (391 ) Present value of lease liability $ 334 Future minimum lease commitments at December 31, 2018 ($ in millions): 2019 $ 48 2020 44 2021 41 2022 40 2023 39 Thereafter 461 Total $ 673

Income per Share

Income per Share	9 Months Ended
	Sep. 30, 2019
Earnings Per Share [Abstract]
Income per Share	Income per Share Following is a reconciliation of the basic and diluted income per share computations ($ in millions, except share and per share data): Quarter Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Numerator: Net income from continuing operations attributable to MIC $ 15 $ 2 $ 85 $ 69 Diluted net income from continuing operations attributable to MIC $ 15 $ 2 $ 85 $ 69 Basic and diluted net income from discontinued operations attributable to MIC $ 46 $ 20 $ 57 $ 68 Denominator: Weighted average number of shares outstanding: basic 86,276,237 85,378,088 86,075,394 85,095,956 Dilutive effect of restricted stock unit grants (1) 27,457 20,478 25,628 13,257 Weighted average number of shares outstanding: diluted 86,303,694 85,398,566 86,101,022 85,109,213 ___________ (1) Dilutive effect of restricted stock unit grants includes grants to independent directors under the 2014 Independent Director Equity Plan and certain employees under the 2016 Omnibus Employee Incentive Plan. Quarter Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Income per share: Basic income per share from continuing operations attributable to MIC $ 0.18 $ 0.02 $ 0.99 $ 0.81 Basic income per share from discontinued operations attributable to MIC 0.53 0.23 0.67 0.80 Basic income per share attributable to MIC $ 0.71 $ 0.25 $ 1.66 $ 1.61 Diluted income per share from continuing operations attributable to MIC $ 0.18 $ 0.02 $ 0.99 $ 0.81 Diluted income per share from discontinued operations attributable to MIC 0.53 0.23 0.67 0.80 Diluted income per share attributable to MIC $ 0.71 $ 0.25 $ 1.66 $ 1.61 The following represents the weighted average potential dilutive shares of common stock that were excluded from the diluted income per share calculation: Quarter Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 2.875% Convertible Senior Notes due July 2019 (1) 722,345 4,381,499 1,766,498 4,363,806 2.00% Convertible Senior Notes due October 2023 3,634,173 3,634,173 3,634,173 3,631,068 Total 4,356,518 8,015,672 5,400,671 7,994,874 _______ (1) On July 15, 2019, the Company fully repaid the outstanding balance on the 2.875% Convertible Senior Notes July 2019 at maturity using cash on hand. For the quarter and nine months ended September 30, 2019, the weighted average shares reflect the “if-converted” impact to dilutive common stock through the maturity date of the Note.

Property, Equipment, Land and L

Property, Equipment, Land and Leasehold Improvements	9 Months Ended
	Sep. 30, 2019
Property, Plant and Equipment [Abstract]
Property, Equipment, Land and Leasehold Improvements	Property, Equipment, Land and Leasehold Improvements Property, equipment, land and leasehold improvements at September 30, 2019 and December 31, 2018 consisted of the following ($ in millions): September 30, December 31, 2018 Land $ 319 $ 319 Buildings 40 40 Leasehold and land improvements 785 770 Machinery and equipment 2,843 2,783 Furniture and fixtures 48 45 Construction in progress 187 113 4,222 4,070 Less: accumulated depreciation (1,069 ) (929 ) Property, equipment, land and leasehold improvements, net $ 3,153 $ 3,141

Intangible Assets and Goodwill

Intangible Assets and Goodwill	9 Months Ended
	Sep. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets and Goodwill	Intangible Assets and Goodwill Intangible assets at September 30, 2019 and December 31, 2018 consisted of the following ($ in millions): September 30 December 31, 2018 Contractual arrangements $ 921 $ 921 Non-compete agreements 14 14 Customer relationships 353 353 Trade names 16 16 Technology 9 9 1,313 1,313 Less: accumulated amortization (568 ) (524 ) Intangible assets, net $ 745 $ 789 The goodwill balance as of September 30, 2019 is comprised of the following ($ in millions): Goodwill acquired in business combinations, net of disposals $ 2,172 Accumulated impairment charges (1) (126 ) Other (3 ) Balance at September 30, 2019 $ 2,043 _______ (1) Accumulated impairment charges primarily relate to goodwill impairment charges at Atlantic Aviation recorded during the year ended December 31, 2009 and 2008. The Company tests for goodwill impairment at the reporting unit level on an annual basis on October 1 st of each year and between annual tests if a triggering event indicates the possibility of an impairment. The Company monitors changing business conditions as well as industry and economic factors, among others, for events which could trigger the need for an interim impairment analysis. The Company has experienced a sustained decline in its market capitalization over the 18-months ended September 30, 2019. The decline reflects, in part, the sales of smaller and non-core businesses during that period. However, the Company concluded that the decline in its market capitalization also reflected a reduced contribution from its IMTT segment as a result of lower bulk liquid storage utilization levels and lease rates and determined that these constituted a triggering event. The Company performed an interim impairment analysis based on financial results through September 30, 2019. For IMTT, the Company used both the market and income approaches and weighting them based on their applicability to the segment. The income approach used forecasted cash flows developed as part of the Company’s annual update of its 5-year business plan. For Atlantic Aviation and Hawaii Gas, the Company used only the market approach given that the fair value of these businesses substantially exceeded the book value noted in 2018. The analysis concluded that fair value of each of the Company’s reporting units exceeded their carrying value and no impairment was recorded. At September 30, 2019, the fair value of the Company’s reporting units exceeded their aggregate book value by $2.2 billion , or 33% . Approximately $1.9 billion of the excess was attributed to Atlantic Aviation, approximately $280 million to Hawaii Gas and approximately $20 million to IMTT. Unfavorable fluctuations in the discount rate or declines in forecasted storage revenues and margins could result in an impairment of IMTT in the future. For example, a 0.25% increase to the discount rate would decrease the value of IMTT by approximately $70 million

Long-Term Debt

Long-Term Debt	9 Months Ended
	Sep. 30, 2019
Debt Disclosure [Abstract]
Long-Term Debt	Long-Term Debt At September 30, 2019 and December 31, 2018 , the Company’s consolidated long-term debt balance comprised of the following ($ in millions): September 30, December 31, 2018 IMTT $ 1,109 $ 1,109 Atlantic Aviation 1,017 1,025 MIC Hawaii 195 196 MIC Corporate 387 734 Total 2,708 3,064 Current portion (11 ) (361 ) Long-term portion 2,697 2,703 Unamortized deferred financing costs (1) (43 ) (50 ) Long-term portion less unamortized debt discount and deferred financing costs $ 2,654 $ 2,653 ___________ (1) The weighted average remaining life of the deferred financing costs at September 30, 2019 was 5.5 years . At September 30, 2019 , the total undrawn capacity on the revolving credit facilities was $1,610 million excluding letters of credit outstanding of $13 million . MIC Corporate At September 30, 2019 and December 31, 2018 , MIC Corporate had a $600 million senior secured revolving credit facility that remained undrawn. 2.875% Convertible Senior Notes due July 2019 At December 31, 2018 , the Company had $350 million aggregate principal outstanding on its five -year, 2.875% Convertible Senior Notes due July 2019 , which approximated its fair value. On July 15, 2019, at maturity, the Company fully repaid the outstanding balance on the Notes using cash on hand. 2.00% Convertible Senior Notes due October 2023 At September 30, 2019 and December 31, 2018 , the Company had $387 million and $384 million , respectively, outstanding on its seven -year, 2.00% Convertible Senior Notes due October 2023 . At September 30, 2019 , the fair value of the liability component of the Notes were approximately $355 million . On October 13, 2019, the anniversary of the Note issuance, the Company did not increase the conversion rate of 9.0290 shares of common stock per $1,000 principal amount as there was no change to the quarterly dividend amount paid from the last anniversary date. The 2.00% Convertible Senior Notes due October 2023 consisted of the following ($ in millions): September 30, December 31, 2018 Liability Component: Principal $ 403 $ 403 Unamortized debt discount (16 ) (19 ) Long-term debt, net of unamortized debt discount 387 384 Unamortized deferred financing costs (6 ) (7 ) Net carrying amount $ 381 $ 377 Equity Component $ 27 $ 27 For the quarter and nine months ended September 30, 2019 and 2018 , the Company incurred interest expense of $3 million and $10 million , respectively, related to the 2.00% Convertible Senior Notes due October 2023 which primarily includes $1 million and $4 million , respectively, related to the amortization of debt discount and deferred financing costs. IMTT In December 2018 , IMTT entered into the Second Amendment to Credit Agreement (the Amendment) which, among other things, extended the maturity date of its $600 million revolving credit facilities from May 21, 2020 to December 5, 2023 and extended the maturity date of its $509 million Tax Exempt Bonds purchase facility from May 21, 2022 to December 5, 2025. In connection with the Amendment, supplemental indentures were entered into with respect to the $509 million of outstanding Tax Exempt Bonds. The Tax Exempt Bonds were reissued and sold to certain lenders under the IMTT Credit Agreement pursuant to the bond purchase facility. The supplemental indentures provide for (i) an interest rate on the Tax Exempt Bonds of 80% of one month LIBOR plus applicable margin plus 0.45% and (ii) an extension of the date on which holders have the right to require repurchase of the Tax Exempt Bonds from May 21, 2022 to December 5, 2025 . At September 30, 2019 and December 31, 2018 , the $600 million revolving credit facilities were undrawn. IMTT also had $600 million of fixed rate senior notes outstanding that had a fair value of approximately $630 million at September 30, 2019 . Atlantic Aviation In December 2018 , Atlantic Aviation refinanced its debt and entered into a credit agreement (the New AA Credit Agreement) that provides for a seven -year $1,025 million senior secured first lien term loan facility. At September 30, 2019 and December 31, 2018 , Atlantic Aviation also had a five -year, $350 million senior secured first lien revolving credit facility that was undrawn. MIC Hawaii At September 30, 2019 , Hawaii Gas had $100 million of fixed rate senior notes outstanding, that had a fair value of approximately $105 million , and an $80 million term loan outstanding. The remaining balance of $15 million related to a term loan for the solar facilities in Hawaii. Hawaii Gas also has a $60 million revolving credit facility that was undrawn at September 30, 2019 and December 31, 2018 .

Derivative Instruments and Hedg

Derivative Instruments and Hedging Activities	9 Months Ended
	Sep. 30, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments and Hedging Activities	Derivative Instruments and Hedging Activities Interest Rate 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 September 30, 2019 , the Company had $2,724 million of current and long-term debt, of which $946 million was economically hedged with interest rate contracts, $1,102 million was fixed rate debt and $676 million was unhedged. The Company does not use hedge accounting. All movements in the fair value of the interest rate derivatives are recorded directly through earnings. Commodity Price Hedges The risks associated with fluctuations in the prices that Hawaii Gas, a business within the MIC Hawaii reportable segment, pays for liquefied petroleum gas (LPG) is principally a result of market forces reflecting changes in supply and demand for LPG and other energy commodities. Hawaii Gas’ gross margin (revenue less cost of product sales excluding depreciation and amortization) is sensitive to changes in propane supply costs and Hawaii Gas may not always be able to pass through product cost increases fully or on a timely basis, particularly when product costs rise rapidly. In order to reduce the volatility of the business’ LPG market price risk, Hawaii Gas has used and expects to continue to use over-the-counter commodity derivative instruments including price swaps. Hawaii Gas does not use commodity derivative instruments for speculative or trading purposes. Over-the-counter derivative commodity instruments used by Hawaii Gas to hedge forecasted purchases of LPG are generally settled at expiration of the contract. Financial Statement Location Disclosure for Derivative Instruments The Company measures derivative instruments at fair value using the income approach which discounts the future net cash settlements expected under the derivative contracts to a present value. These valuations use primarily observable (level 2) inputs, including contractual terms, interest rates and yield curves observable at commonly quoted intervals. The Company’s fair value measurements of its derivative instruments and the related location of the assets and liabilities within the consolidated condensed balance sheets at September 30, 2019 and December 31, 2018 were ($ in millions): Assets (Liabilities) at Fair Value Balance Sheet Classification September 30, December 31, 2018 Fair value of derivative instruments - other current assets $ 3 $ 11 Fair value of derivative instruments - other noncurrent assets 2 15 Total derivative contracts – assets $ 5 $ 26 Fair value of derivative instruments – other current liabilities $ (8 ) $ (3 ) Fair value of derivative instruments – other noncurrent liabilities (3 ) — Total derivative contracts – liabilities $ (11 ) $ (3 ) The Company’s hedging activities for the quarters and nine months ended September 30, 2019 and 2018 and the related location within the consolidated condensed statements of operations were ($ in millions): Income Statement Classification Amount of (Loss) Gain Recognized in Consolidated Condensed Statements of Operations Quarter Ended Nine Months Ended 2019 2018 2019 2018 Interest expense – interest rate caps $ (1 ) $ 2 $ (7 ) $ 9 Interest expense – interest rate swaps (1 ) 1 (7 ) 8 Cost of product sales – commodity swaps (6 ) 2 (11 ) 3 Total $ (8 ) $ 5 $ (25 ) $ 20

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Sep. 30, 2019
Equity [Abstract]
Stockholders' Equity	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 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. Shares of common stock underlying forfeited awards are available for future grants. On March 28, 2019, the Company’s Board adopted Amendment No. 1 to the Plan (the Amendment), which was approved in May 2019 by the Company’s shareholders at the 2019 Annual Meeting of Shareholders. The Amendment, among other things, increased the number of shares of common stock available for grant under the Plan from 500,000 to 1,500,000 . Macquarie Infrastructure Corporation Short-Term Incentive Plan (STIP) for MIC Operating Businesses — Restricted Stock Units (RSUs) During the first quarter of 2019 , the Company established the STIP to provide cash and stock-based incentives to eligible employees of its operating businesses under the Company’s 2016 Omnibus Employee Incentive Plan. In general, the cash component comprises approximately 75% of any incentive award and is paid in a lump-sum. The remaining 25% of any incentive award is in the form of RSUs representing an interest in the common stock of the Company. RSUs are granted following assessment of performance against Key Performance Indicators post the one -year performance period and vest in two equal annual installments following the grant date. Through September 30, 2019 , no grants of RSUs under the STIP had been made. From time to time, the Company can issue RSUs to award or retain employees, or to attract new employees, or other reasons by providing special grants of RSUs. Vesting dates and terms can vary for each award at the discretion of the Company. The following represents unvested Special RSUs granted through 2019: 2019 Special Grants Number of RSUs (in units) Weighted Average Grant-Date Fair Value (per share) Unvested at December 31, 2018 — $ — Granted 6,067 40.30 Unvested at September 30, 2019 6,067 $ 40.30 Compensation expense related to the Special RSU grants for the quarter and nine months ended September 30, 2019 was not significant. At September 30, 2019 , the cost is expected to be recognized over a weighted-average period of 1.3 years. Macquarie Infrastructure Corporation Long-Term Incentive Plan (LTIP) for MIC Operating Businesses — Performance Stock Units (PSUs) During the first quarter of 2019 , the Company established the LTIP pursuant to which it may make stock-based incentive awards to eligible employees of its operating businesses. The awards would take the form of PSUs convertible into common stock of the Company as authorized under its 2016 Omnibus Employee Incentive Plan. The number of PSUs a participant may be awarded reflects a target level of performance by the participant. The participant may be awarded more (over performance limit) or less (threshold limit) than the target number of PSUs based on their achievements relative to Key Performance Indicators during the three -year performance period. Following finalization of the participant’s performance review at the end of the third year of the program, the Company may award the PSUs. The following represents unvested LTIP grants through September 30, 2019 at the target level of performance: 2019 LTIP (at Target) Number of PSUs (in units) Weighted Average Grant-Date Fair Value (per share) Unvested at December 31, 2018 — $ — Granted 134,671 $ 39.59 Forfeited (7,577) $ 39.26 Unvested at September 30, 2019 127,094 $ 39.61 At September 30, 2019 , depending upon actual performance, the number of PSUs to be issued will vary from zero to 233,891 , net of forfeitures. At September 30, 2019 , the grant date fair value of the unvested awards was approximately $5 million , reflecting target performance by all participants. During the nine months ended September 30, 2019 , the Company recognized approximately $1 million of compensation expense related to the LTIP. At September 30, 2019 , the unrecognized compensation cost related to unvested PSU awards was approximately $4 million at target level performance. If target level performance is achieved, the unrecognized cost is expected to be recognized over a weighted-average period of 2.3 years. Accumulated Other Comprehensive Loss, net of taxes The following represents the changes and balances to the components of accumulated other comprehensive loss, net of taxes for the nine months ended September 30, 2019 and 2018 ($ in millions): Post-Retirement Benefit Plans, net of taxes Translation Adjustment, net of taxes (1) Total Stockholders’ Accumulated Other Comprehensive Loss, net of taxes Balance at December 31, 2017 $ (20 ) $ (10 ) $ (30 ) Translation adjustment — (2 ) (2 ) Balance at September 30, 2018 $ (20 ) $ (12 ) $ (32 ) Balance at December 31, 2018 $ (16 ) $ (14 ) $ (30 ) Translation adjustment — 1 1 Balance at September 30, 2019 $ (16 ) $ (13 ) $ (29 ) ___________ (1) Translation adjustment is presented net of tax expense of $1 million and tax benefit of $1 million for the nine months ended September 30, 2019 and 2018 , respectively.

Reportable Segments

Reportable Segments	9 Months Ended
	Sep. 30, 2019
Segment Reporting [Abstract]
Reportable Segments	Reportable Segments At September 30, 2019 , the Company’s businesses consisted of four reportable segments: IMTT, Atlantic Aviation, MIC Hawaii and Corporate and Other. Effective October 1, 2018, BEC and substantially all of the Company’s portfolio of solar and wind power generation businesses were classified as discontinued operations and the Company’s Contracted Power segment was eliminated. All prior comparable periods have been restated to reflect this change. In July 2019, the Company completed the sales of its wind power generating portfolio and all but one of the assets in its solar power generating portfolio. The sale of the remaining solar facility closed during September 2019. On January 1, 2019, the Company also classified its majority interest in a renewable power development business as a discontinued operation, the sale of which closed in July 2019. The Company did not restate the prior period as the disposition was deemed insignificant. A remaining relationship with a third-party developer of renewable power facilities has been reported as a component of Corporate and Other through the expiration of the relationship in July 2019. For additional information, see Note 3, “Discontinued Operations and Dispositions”. IMTT IMTT provides bulk liquid storage, handling and other services in North America through 17 terminals located in the U.S., 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 tropical oils. Based on storage capacity, IMTT operates one of the largest third-party bulk liquid terminals businesses in the U.S. Revenue from IMTT is generated from the following sources and recorded in service revenue. Lease . These are contracts with predominantly non-cancelable terms for access to and the use of storage capacity at the various terminals owned and operated by the business. At September 30, 2019 , these contracts had a revenue weighted average remaining contract life of 1.9 years. These contracts generally require payments in exchange for the provision of storage capacity and product movement (throughput) throughout their term based on a fixed rate per barrel of capacity leased. A majority of the contracts include terms that adjust the fixed rate annually for inflation. These contracts are accounted for as operating leases and the related lease income is recognized in service revenue over the term of the contract based upon the rate specified. Revenue is recognized in accordance with ASC 842, Leases. Terminal services . Revenue from the provision of ancillary services includes activities such as heating, mixing and blending, and is recognized as the related services are performed (point in time) based on contract rates. Other terminal services also include payments received prior to the related services being performed or as a reimbursement for specific fixed asset additions or improvements related to a customer’s contract and are recorded as deferred revenue and ratably recognized as revenues over the contract term. Other . Other revenue is comprised primarily of environmental response service activities through the date of sale in April 2018 and railroad operations. These revenues are generally recognized at a point in time as services are performed. 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. The business currently operates at 70 airports. Revenue from Atlantic Aviation is recorded in service revenue. Services provided by Atlantic Aviation include: Fuel . Revenue from fuel sales are recognized at a point in time as services are performed. Fuel services are recorded net of volume discounts and rebates. Hangar . Hangar rentals includes both month-to-month rentals and rentals from longer term contracts. Hangar rental revenue excludes transient customer overnight hangar usage (see Other FBO services below). Other FBO services . Other fixed based operation (FBO) services consist principally of de-icing services, landing, concession, transient overnight hangar usage, terminal use and fuel distribution fees that are recognized as sales of services. Revenue from these transactions is recorded based on the service fee earned. MIC Hawaii MIC Hawaii primarily comprises of (i) 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; and (ii) controlling interests in two solar facilities on Oahu. Revenue from the Hawaii Gas business is generated from the distribution and sales of synthetic natural gas (SNG), liquefied petroleum gas (LPG), liquefied natural gas (LNG) and renewable natural gas (RNG). Revenue is primarily a function of the volume of SNG, LPG, LNG and RNG consumed by customers and the price per British 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. Revenue from Hawaii Gas is recorded in product revenue. Hawaii Gas recognizes revenue when products are delivered. Sales of gas to customers are billed on a monthly-cycle basis. Earned but unbilled revenue is accrued and included in accounts receivable and revenue. This is based on the amount of gas that has been delivered but not billed to customers from the latest meter reading or billed delivery date to the end of an accounting period. The related costs are charged to expense. The renewables projects within MIC Hawaii sell substantially all of the electricity generated at a fixed price to primarily electric utility customers pursuant to long-term power purchase agreements (PPAs) of 20 years. Substantially all of the PPAs are accounted for as operating leases and have no minimum lease payments and all of the lease income under these leases is recorded within product revenue when the electricity is delivered. Corporate and Other Corporate and Other comprises of MIC Corporate (holding company) and a shared services center. 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. Revenue from external customers for the Company’s consolidated reportable segments were ($ in millions): Quarter Ended September 30, 2019 IMTT Atlantic Aviation MIC Hawaii Intercompany Adjustments Total Reportable Segments Service revenue Terminal services $ 22 $ — $ — $ — $ 22 Lease 96 — — (1 ) 95 Fuel — 165 — — 165 Hangar — 24 — — 24 Other — 41 — — 41 Total service revenue $ 118 $ 230 $ — $ (1 ) $ 347 Product revenue Lease $ — $ — $ 2 $ — $ 2 Gas — — 54 — 54 Other — — 2 — 2 Total product revenue $ — $ — $ 58 $ — $ 58 Total revenue $ 118 $ 230 $ 58 $ (1 ) $ 405 Quarter Ended September 30, 2018 IMTT Atlantic Aviation MIC Hawaii Intercompany Adjustments Total Reportable Segments Service revenue Terminal services $ 19 $ — $ — $ — $ 19 Lease 98 — — (1 ) 97 Fuel — 173 — — 173 Hangar — 22 — — 22 Construction — — 8 — 8 Other 1 40 1 — 42 Total service revenue $ 118 $ 235 $ 9 $ (1 ) $ 361 Product revenue Lease $ — $ — $ 1 $ — $ 1 Gas — — 55 — 55 Other — — 4 — 4 Total product revenue $ — $ — $ 60 $ — $ 60 Total revenue $ 118 $ 235 $ 69 $ (1 ) $ 421 Nine Months Ended September 30, 2019 IMTT Atlantic Aviation MIC Hawaii Intercompany Adjustments Total Reportable Segments Service revenue Terminal services $ 68 $ — $ — $ — $ 68 Lease 326 — — (2 ) 324 Fuel — 519 — — 519 Hangar — 70 — — 70 Other 4 135 — — 139 Total service revenue $ 398 $ 724 $ — $ (2 ) $ 1,120 Product revenue Lease $ — $ — $ 4 $ — $ 4 Gas — — 171 — 171 Other — — 8 — 8 Total product revenue $ — $ — $ 183 $ — $ 183 Total revenue $ 398 $ 724 $ 183 $ (2 ) $ 1,303 Nine Months Ended September 30, 2018 IMTT Atlantic Aviation MIC Hawaii Intercompany Adjustments Total Reportable Segments Service revenue Terminal services $ 66 $ — $ — $ — $ 66 Lease 304 — — (3 ) 301 Fuel — 524 — — 524 Hangar — 66 — — 66 Construction — — 39 — 39 Other 16 125 3 — 144 Total service revenue $ 386 $ 715 $ 42 $ (3 ) $ 1,140 Product revenue Lease $ — $ — $ 3 $ — $ 3 Gas — — 172 — 172 Other — — 9 — 9 Total product revenue $ — $ — $ 184 $ — $ 184 Total revenue $ 386 $ 715 $ 226 $ (3 ) $ 1,324 In accordance with FASB ASC 280, Segment Reporting , the Company has disclosed earnings before interest, taxes, depreciation and amortization (EBITDA) excluding non-cash items as a key performance indicator for the businesses. EBITDA excluding non-cash items is reflective of the businesses’ ability to effectively manage the volume of products sold or services provided, the operating margin earned on those transactions and the management of operating expenses independent of the capitalization and tax attributes of its businesses. The Company defines EBITDA excluding non-cash items as net income (loss) or earnings — the most comparable GAAP measure — before interest, taxes, depreciation and amortization and non-cash items including impairments, unrealized derivative gains and losses, adjustments for other non-cash items and pension expense reflected in the statements of operations. EBITDA excluding non-cash items for the Company’s consolidated reportable segments from continuing operations is shown in the tables below ($ in millions). Allocations of corporate expenses, intercompany fees and the tax effect have been excluded as they are eliminated in consolidation. Quarter Ended September 30, 2019 IMTT Atlantic Aviation MIC Hawaii Corporate and Other Total Reportable Segments Net income (loss) $ 12 $ 14 $ 1 $ (12 ) $ 15 Interest expense, net 10 18 3 3 34 Provision (benefit) for income taxes 5 5 1 (4 ) 7 Depreciation 29 16 4 — 49 Amortization of intangibles 3 11 — — 14 Fees to Manager-related party — — — 8 8 Other non-cash expense 3 — 3 — 6 EBITDA excluding non-cash items $ 62 $ 64 $ 12 $ (5 ) $ 133 Quarter Ended September 30, 2018 IMTT Atlantic Aviation MIC Hawaii Corporate and Other Total Reportable Segments Net income (loss) $ 16 $ 25 $ (18 ) $ (21 ) $ 2 Interest expense, net 12 5 2 9 28 Provision (benefit) for income taxes 6 9 (7 ) (6 ) 2 Goodwill impairment — — 3 — 3 Depreciation 29 14 6 — 49 Amortization of intangibles 4 12 4 — 20 Fees to Manager-related party — — — 12 12 Other non-cash expense 2 — 5 — 7 EBITDA excluding non-cash items $ 69 $ 65 $ (5 ) $ (6 ) $ 123 Nine Months Ended September 30, 2019 IMTT Atlantic Aviation MIC Hawaii Corporate and Other Total Reportable Segments Net income (loss) $ 62 $ 48 $ 11 $ (36 ) $ 85 Interest expense, net 38 59 8 13 118 Provision (benefit) for income taxes 25 18 5 (15 ) 33 Depreciation 87 46 12 — 145 Amortization of intangibles 11 33 — — 44 Fees to Manager-related party — — — 23 23 Other non-cash expense 7 1 10 1 19 EBITDA excluding non-cash items $ 230 $ 205 $ 46 $ (14 ) $ 467 Nine Months Ended September 30, 2018 IMTT Atlantic Aviation MIC Hawaii Corporate and Other Total Reportable Segments Net income (loss) $ 60 $ 78 $ (11 ) $ (58 ) $ 69 Interest expense, net 31 9 5 26 71 Provision (benefit) for income taxes 24 29 (4 ) (17 ) 32 Goodwill impairment — — 3 — 3 Depreciation 87 43 13 — 143 Amortization of intangibles 12 35 6 — 53 Fees to Manager-related party — — — 36 36 Other non-cash expense 7 1 10 — 18 EBITDA excluding non-cash items $ 221 $ 195 $ 22 $ (13 ) $ 425 Reconciliations of total reportable segments’ EBITDA excluding non-cash items to consolidated net income from continuing operations before income taxes were ($ in millions): Quarter Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Total reportable segments EBITDA excluding non-cash items $ 133 $ 123 $ 467 $ 425 Interest income 2 — 6 — Interest expense (36 ) (28 ) (124 ) (71 ) Goodwill impairment — (3 ) — (3 ) Depreciation (49 ) (49 ) (145 ) (143 ) Amortization of intangibles (14 ) (20 ) (44 ) (53 ) Fees to Manager-related party (8 ) (12 ) (23 ) (36 ) Other expense, net (6 ) (7 ) (19 ) (18 ) Total consolidated net income from continuing operations before income taxes $ 22 $ 4 $ 118 $ 101 Capital expenditures, on a cash basis, for the Company’s reportable segments were ($ in millions): Quarter Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 IMTT $ 47 $ 18 $ 111 $ 42 Atlantic Aviation 17 16 44 52 MIC Hawaii 5 6 15 17 Corporate and other 1 5 2 20 Total capital expenditures of reportable segments $ 70 $ 45 $ 172 $ 131 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 millions): Property, Equipment, Land and Leasehold Improvements, net Goodwill Total Assets September 30, December 31, 2018 September 30, December 31, 2018 September 30, December 31, 2018 IMTT $ 2,273 $ 2,249 $ 1,427 $ 1,427 $ 4,135 $ 4,020 Atlantic Aviation 567 565 496 496 2,040 1,676 MIC Hawaii 303 300 120 120 528 501 Corporate and other 10 27 — — 221 599 Total assets of reportable segments $ 3,153 $ 3,141 $ 2,043 $ 2,043 $ 6,924 $ 6,796 Assets held for sale — — — — — 648 Total consolidated assets $ 3,153 $ 3,141 $ 2,043 $ 2,043 $ 6,924 $ 7,444

Long-Term Contracted Revenue

Long-Term Contracted Revenue	9 Months Ended
	Sep. 30, 2019
Contractors [Abstract]
Long-Term Contracted Revenue	Long-Term Contracted Revenue Long-term contracted revenue consists of revenue from future minimum lease revenue accounted in accordance with ASC 842, Leases , and estimated revenue to be recognized in the future related to performance conditions that are unsatisfied or partially unsatisfied accounted in accordance with ASC 606, Revenue . The recognition pattern for contracts that are considered leases is generally consistent with the recognition pattern that would apply if such contracts were not accounted for as leases and were instead accounted for under ASC Topic 606. Accordingly, the Company has combined the required lessor disclosures for future lease income with the disclosures for contracted revenue in the table below. The following long-term contracted revenue were in existence at September 30, 2019 ($ in millions): Lease Revenue (ASC 842) Contract Revenue (ASC 606) Total Long-Term Revenue 2019 remaining $ 81 $ 23 $ 104 2020 219 53 272 2021 123 33 156 2022 75 28 103 2023 49 20 69 Thereafter 111 18 129 Total $ 658 $ 175 $ 833 The above table does not include the future minimum lease revenue from the renewable businesses within the MIC Hawaii reportable segment. The payments from these leases are considered variable as they are based on the output of the underlying assets (i.e. energy generated).

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2019
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions Management Services At September 30, 2019 and December 31, 2018, the Manager held 13,048,205 shares and 12,477,438 shares, respectively, of the Company’s common stock. Pursuant to the terms of the Third Amended and Restated Management Services Agreement (Management Services Agreement), the Manager may sell these shares at any time. Under the Management Services Agreement, the Manager, at its option, may reinvest base management fees and performance fees, if any, in shares of the Company. Since January 1, 2018, the Company paid the Manager cash dividends on shares held for the following periods: Declared Period Covered $ per Record Date Payable Date Cash Dividend Paid to Manager October 29, 2019 Third quarter 2019 $ 1.00 November 11, 2019 November 14, 2019 (1) July 30, 2019 Second quarter 2019 1.00 August 12, 2019 August 15, 2019 $ 13 April 29, 2019 First quarter 2019 1.00 May 13, 2019 May 16, 2019 13 February 14, 2019 Fourth quarter 2018 1.00 March 4, 2019 March 7, 2019 13 October 30, 2018 Third quarter 2018 1.00 November 12, 2018 November 15, 2018 12 July 31, 2018 Second quarter 2018 1.00 August 13, 2018 August 16, 2018 11 May 1, 2018 First quarter 2018 1.00 May 14, 2018 May 17, 2018 6 February 19, 2018 Fourth quarter 2017 1.44 March 5, 2018 March 8, 2018 8 ___________ (1) The amount of dividend payable to the Manager for the third quarter of 2019 will be determined on November 11, 2019 , the record date. Under the Management Services Agreement, subject to the oversight and supervision of the Company’s Board, 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, 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 Services 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 total shareholder returns 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 nine months ended September 30, 2019 , the Company incurred base management fees of $ 8 million and $ 23 million, respectively, compared with $12 million and $36 million for the quarter and nine months ended September 30, 2018 , respectively. The Company did not incur any performance fees for the quarter and nine month periods ended September 30, 2019 and 2018 . Effective November 1, 2018, the Manager waived two elements of the base management fee to which it was entitled under the terms of the Management Services Agreement. In effect, the waivers cap the base management fee at 1% of the Company’s equity market capitalization less any cash balances at the holding company. The waiver applies only to the calculation of the base management fees and not to the remainder of the Management Services Agreement. The Manager reserves the right to revoke the waivers and revert to the prior terms of the Management Services Agreement, subject to providing the Company with not less than a one year notice. A revocation of the waiver would not trigger a recapture of previously waived fees. As part of the disposition agreement entered into between the Company and its Manager, the Manager has agreed not to revoke the waiver during the term of the disposition agreement. See Note 16, “Subsequent Events” for further discussions on disposition agreement. The unpaid portion of the base management fees and performance fees, if any, at the end of each reporting period is included in Due to Manager-related party in the consolidated condensed balance sheets. Period Base Management Fee Amount ($ in millions) Performance Fee Amount ($ in millions) Shares Issued 2019 Activities: Third quarter 2019 $ 8 $ — 201,827 (1) Second quarter 2019 7 — 192,103 First quarter 2019 8 — 184,448 2018 Activities: Fourth quarter 2018 $ 9 $ — 220,208 Third quarter 2018 12 — 269,286 Second quarter 2018 11 — 277,053 First quarter 2018 13 — 265,002 ___________ (1) The Manager elected to reinvest all of the monthly base management fees for the third quarter of 2019 in new primary shares. The Company issued 201,827 shares for the quarter ended September 30, 2019 , including 67,659 shares that were issued in October 2019 for the September 2019 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 nine months ended September 30, 2019 , the Manager charged the Company $ 76,000 and $653,000 , respectively, for reimbursement of out-of-pocket expenses compared with $ 296,000 and $ 705,000 , respectively, for quarter and nine months ended September 30, 2018 . 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. During the quarter ended September 30, 2019 , the Company accrued $294,000 in legal fees incurred by the Manager related to the Shareholder Litigation. The unpaid expense is included in Accounts Payable in the consolidated condensed balance sheet. For additional information, see Note 15, "Legal Proceedings and Contingencies", for further discussions. Macquarie Group - 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. Macquarie Group affiliates are engaged on an arm’s length basis and frequently as a member of a 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. Long-Term Debt In January 2018, the Company completed the refinancing and upsizing of its senior secured revolving credit facility to $600 million from $410 million and extended the maturity through January 3, 2022 . As part of the refinancing and upsizing, MIHI LLC’s $50 million commitment was replaced by a $40 million commitment from Macquarie Capital Funding LLC. As part of the closing, the Company paid Macquarie Capital Funding LLC $80,000 in closing fees. For the quarter and nine months ended September 30, 2019 , the Company incurred interest expense of $ 45,000 and $ 120,000 respectively, related to Macquarie Capital Funding LLC’s portion of the MIC senior secured revolving credit facility compared with $ 139,000 and $ 376,000 for the quarter and nine months ended September 30, 2018 , respectively. Other Transactions In May 2018, the Company sold its equity interest in projects involving two properties to Macquarie Infrastructure and Real Assets, Inc. (MIRA Inc.), an affiliate of the Manager, for their cost of $27 million . The Company retained the right to 20% of any gain on a subsequent sale by MIRA Inc. to a third party of a more than 50% interest in either or both of the projects. From time to time, indirect subsidiaries within Macquarie Group may enter into contracts with IMTT to lease capacity. For the nine months ended September 30, 2019 , the revenue from these contracts were approximately $1 million and were insignificant for the prior comparable period. Other Related Party Transactions During the quarter ended September 30, 2019 , the Company incurred $ 75,000 for advisory services from a former Board member.

Legal Proceedings and Contingen

Legal Proceedings and Contingencies	9 Months Ended
	Sep. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
Legal Proceedings and Contingencies	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. Shareholder Litigation On April 23, 2018, a complaint captioned City of Riviera Beach General Employees Retirement System v. Macquarie Infrastructure Corp., et al., Case 1:18-cv-03608 (VSB), was filed in the United States District Court for the Southern District of New York. A substantially identical complaint captioned Daniel Fajardo v. Macquarie Infrastructure Corporation, et al. , Case No. 1:18-cv-03744 (VSB) was filed in the same court on April 27, 2018. Both complaints asserted claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder on behalf of a putative class consisting of all purchasers of MIC common stock between February 22, 2016 and February 21, 2018. The named defendants in both cases were the Company and four current or former officers of MIC and one of its subsidiaries, IMTT Holdings LLC. The complaints in both actions allege that the Company and the individual defendants knowingly made material misstatements and omitted material facts in its public disclosures concerning the Company’s and IMTT’s business and the sustainability of the Company’s dividend to stockholders. On January 30, 2019, the Court issued an opinion and order consolidating the two cases, appointing Moab Partners, L.P. (Moab) as Lead Plaintiff and approving Moab’s selection of lead counsel. On February 20, 2019, Moab filed a consolidated class action complaint. In addition to the claims noted above, the consolidated class action complaint also asserts claims under Sections 11, 12(a)(2) and 15 of the Securities Act of 1933 relating to the Company’s November 2016 secondary public offering of common stock. The consolidated amended complaint also adds Macquarie Infrastructure Management (USA) Inc., Barclays Capital Inc. and seven additional current or former officers or directors of MIC as defendants. On April 22, 2019, the Company and the other defendants filed motions to dismiss the consolidated class action complaint in its entirety, with prejudice. Briefing concluded on July 22, 2019. The Company intends to continue to vigorously contest the claims asserted, which the Company believes are entirely meritless. On August 9, 2018, a shareholder derivative complaint captioned Phyllis Wright v. Liam Stewart, et al. , Case No. 1:18-cv-07174 (VSB), was filed in the United States District Court for the Southern District of New York. A substantially identical complaint captioned Raymond Greenlee v. James Hooke, et al. , Case No. 1:18-cv-09339 (VSB) was filed in the same court on October 12, 2018. A third and substantially similar shareholder derivative complaint captioned Kim Johnson v. Liam Stewart, et al., Case No. 1:18-cv-011062 (VSB) was filed in the same court on November 27, 2018. Each of the shareholder derivative complaints assert derivative claims on behalf of the Company against certain of its current and former officers and directors arising out of the same subject matter at issue in the City of Riviera Beach and Fajardo complaints discussed above. The causes of action asserted include violation of Section 14(a) of the Securities Exchange Act of 1934, breach of fiduciary duties, waste of corporate assets, unjust enrichment, and aiding and abetting breach of fiduciary duty. A motion to consolidate the three actions is currently pending. Proceedings in the Wright, Greenlee and Johnson cases are otherwise stayed pending resolution of the motions to dismiss the securities class actions described above. The Company expects that the named defendants will vigorously contest the claims asserted in the Wright , Greenlee and Johnson complaints.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2019
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events Pursuit of Strategic Alternatives In October 2019, the Board resolved to actively pursue strategic alternatives including a sale of the Company or its operating businesses as a means of unlocking value for shareholders. There is no set timetable for completing any transaction and there can be no assurance that any transactions will occur on favorable terms or at all. See the Company’s Current Report on Form 8-K date October 31, 2019 for additional information. Disposition Agreement To facilitate the Company’s pursuit of strategic alternatives, the Company announced that it has entered into a disposition agreement with Macquarie Infrastructure Management (USA) Inc. (MIMUSA), the external manager of the Company on October 30, 2019. Other than pursuant to this agreement, the Company does not have the ability to terminate the Management Services Agreement other than in limited circumstances. Pursuant to this agreement, the Company’s Management Services Agreement with MIMUSA will terminate as to any businesses, or substantial portions thereof, that are sold and, in connection therewith, the Company will make a payment to MIMUSA based on the proceeds generated in the event of such sales and certain additional payments under certain circumstances. The disposition agreement will terminate on the earlier to occur of (i) the termination of the Management Services Agreement and (ii) the sixth anniversary, subject to extension under certain circumstances if a transaction is pending. See the Company’s Current Report on Form 8-K dated October 31, 2019 for additional information. Dividend On October 29, 2019 , the Board declared a dividend of $1.00 per share for the quarter ended September 30, 2019 , which is expected to be paid on November 14, 2019 to holders of record on November 11, 2019 .

Basis of Presentation (Policies

Basis of Presentation (Policies)	9 Months Ended
	Sep. 30, 2019
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.
Financial Instruments	Financial Instruments The Company’s financial instruments, including cash and cash equivalents, accounts receivable, accounts payable and variable-rate senior debt, are carried at cost, which approximates their fair value because of either the short-term maturity or competitive interest rates assigned to these financial instruments. The fair values of the Company’s other debt instruments fall within level 1 or level 2 of the fair value hierarchy.
Income Taxes	Income Taxes The Company expects to incur federal consolidated taxable income from continuing operations for the year ending December 31, 2019
Recently Issued Accounting Standards	Recently Issued Accounting Standards In August 2018, the FASB issued ASU No. 2018-14, Compensation — Retirement Benefits — Defined Benefit Plans — General (Subtopic 715-20): Disclosure Framework — Changes to the Disclosure Requirements for Defined Benefit Plans . The amendments in ASU 2018-14 update disclosure requirements for employers that sponsor defined benefit pension or other postretirement plans. The amendments in this update are effective for fiscal years ending after December 15, 2020. Early adoption is permitted. The Company will include appropriate disclosures related to defined benefit plans in accordance with the standard when it adopts the provisions of this ASU. In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework — Changes to the Disclosure Requirements for Fair Value Measurement . The amendments in ASU 2018-13 update the disclosure requirements on fair value measurements, including the consideration of costs and benefits. The disclosure modifications focused on Level 3 fair value measurements, and also eliminate the minimum disclosure requirements. The amendments in this update are effective for annual periods beginning after December 15, 2019, and interim periods within those fiscal years. The amendments on changes in unrealized gains and losses, the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements, and the narrative description of measurement uncertainty should be applied prospectively for only the most recent interim or annual period presented in the initial fiscal year of adoption. All other amendments should be applied retrospectively to all periods presented upon their effective date. Early adoption is permitted upon issuance of this Update. An entity is permitted to early adopt any removed or modified disclosures upon issuance of this Update and delay adoption of the additional disclosures until their effective date. The Company is currently evaluating the impact of the adoption of this ASU.

Discontinued Operations and D_2

Discontinued Operations and Dispositions (Tables)	9 Months Ended
	Sep. 30, 2019
Discontinued Operations and Disposal Groups [Abstract]
Schedule of Contracted Power segment	The following is a summary of the assets and liabilities held for sale included in the Company’s consolidated condensed balance sheets related to its former Contracted Power segment as of December 31, 2018 ($ in millions): December 31, 2018 Assets Cash and cash equivalents $ 3 Restricted cash 14 Accounts receivable, net 9 Other current assets 5 Total current assets 31 Property, equipment, land and leasehold improvements, net 606 Intangible assets, net 9 Other noncurrent assets 2 Total assets $ 648 Liabilities Accounts payable and accrued expenses $ 7 Current portion of long-term debt 20 Other current liabilities 1 Total current liabilities 28 Long term debt, net of current portion 283 Other noncurrent liabilities 6 Total liabilities $ 317 Noncontrolling interests $ 141 Summarized financial information for discontinued operations included in the Company’s consolidated condensed statement of operations for the quarters and nine months ended September 30, 2019 and 2018 are as follows ($ in millions): Quarter Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Product revenue $ 10 $ 52 $ 44 $ 129 Cost of product sales (1 ) (8 ) (7 ) (20 ) Selling, general & administrative expenses (11 ) (8 ) (18 ) (22 ) Depreciation and amortization — (8 ) — (38 ) Interest expense, net (1 ) (5 ) (13 ) (11 ) Other income, net (1) 81 3 80 3 Net income from discontinued operations before income taxes $ 78 $ 26 $ 86 $ 41 Provision for income taxes (32 ) (6 ) (32 ) (5 ) Net income from discontinued operations $ 46 $ 20 $ 54 $ 36 Less: net loss attributable to noncontrolling interests — — (3 ) (32 ) Net income from discontinued operations attributable to MIC $ 46 $ 20 $ 57 $ 68 _______ (1) Includes approximately $80 million of gain on sale from the renewable businesses described above.

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2019
Leases [Abstract]
Operating Lease Expense	For the quarter and nine months ended September 30, 2019 , the Company’s operating lease expenses recorded within the consolidated condensed statement of operations were as follows ($ in millions): Income Statement Classification Quarter Ended Nine Months Ended September 30, 2019 Cost of services $ 1 $ 2 Cost of product sales — 1 Selling, general and administrative 13 38 Total operating lease expense (1) $ 14 $ 41 ___________ (1) Includes leases less than one year, which were not significant.
Lessee, Operating Lease, Liability, Maturity	The following table represents the future maturities of lease liabilities at September 30, 2019 ($ in millions): 2019 remaining $ 11 2020 46 2021 44 2022 42 2023 42 Thereafter 540 Total lease payment $ 725 Less: interest (391 ) Present value of lease liability $ 334
Schedule of Future Minimum Rental Commitments	Future minimum lease commitments at December 31, 2018 ($ in millions): 2019 $ 48 2020 44 2021 41 2022 40 2023 39 Thereafter 461 Total $ 673

Income per Share (Tables)

Income per Share (Tables)	9 Months Ended
	Sep. 30, 2019
Earnings Per Share [Abstract]
Reconciliation of Earnings (Loss) per Share	Following is a reconciliation of the basic and diluted income per share computations ($ in millions, except share and per share data): Quarter Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Numerator: Net income from continuing operations attributable to MIC $ 15 $ 2 $ 85 $ 69 Diluted net income from continuing operations attributable to MIC $ 15 $ 2 $ 85 $ 69 Basic and diluted net income from discontinued operations attributable to MIC $ 46 $ 20 $ 57 $ 68 Denominator: Weighted average number of shares outstanding: basic 86,276,237 85,378,088 86,075,394 85,095,956 Dilutive effect of restricted stock unit grants (1) 27,457 20,478 25,628 13,257 Weighted average number of shares outstanding: diluted 86,303,694 85,398,566 86,101,022 85,109,213 ___________ (1) Dilutive effect of restricted stock unit grants includes grants to independent directors under the 2014 Independent Director Equity Plan and certain employees under the 2016 Omnibus Employee Incentive Plan. Quarter Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Income per share: Basic income per share from continuing operations attributable to MIC $ 0.18 $ 0.02 $ 0.99 $ 0.81 Basic income per share from discontinued operations attributable to MIC 0.53 0.23 0.67 0.80 Basic income per share attributable to MIC $ 0.71 $ 0.25 $ 1.66 $ 1.61 Diluted income per share from continuing operations attributable to MIC $ 0.18 $ 0.02 $ 0.99 $ 0.81 Diluted income per share from discontinued operations attributable to MIC 0.53 0.23 0.67 0.80 Diluted income per share attributable to MIC $ 0.71 $ 0.25 $ 1.66 $ 1.61
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 September 30, Nine Months Ended September 30, 2019 2018 2019 2018 2.875% Convertible Senior Notes due July 2019 (1) 722,345 4,381,499 1,766,498 4,363,806 2.00% Convertible Senior Notes due October 2023 3,634,173 3,634,173 3,634,173 3,631,068 Total 4,356,518 8,015,672 5,400,671 7,994,874 _______ (1) On July 15, 2019, the Company fully repaid the outstanding balance on the 2.875% Convertible Senior Notes July 2019 at maturity using cash on hand. For the quarter and nine months ended September 30, 2019, the weighted average shares reflect the “if-converted” impact to dilutive common stock through the maturity date of the Note.

Property, Equipment, Land and_2

Property, Equipment, Land and Leasehold Improvements (Tables)	9 Months Ended
	Sep. 30, 2019
Property, Plant and Equipment [Abstract]
Schedule of Property, Equipment, Land and Leasehold Improvements	Property, equipment, land and leasehold improvements at September 30, 2019 and December 31, 2018 consisted of the following ($ in millions): September 30, December 31, 2018 Land $ 319 $ 319 Buildings 40 40 Leasehold and land improvements 785 770 Machinery and equipment 2,843 2,783 Furniture and fixtures 48 45 Construction in progress 187 113 4,222 4,070 Less: accumulated depreciation (1,069 ) (929 ) Property, equipment, land and leasehold improvements, net $ 3,153 $ 3,141

Intangible Assets and Goodwill

Intangible Assets and Goodwill (Tables)	9 Months Ended
	Sep. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets	Intangible assets at September 30, 2019 and December 31, 2018 consisted of the following ($ in millions): September 30 December 31, 2018 Contractual arrangements $ 921 $ 921 Non-compete agreements 14 14 Customer relationships 353 353 Trade names 16 16 Technology 9 9 1,313 1,313 Less: accumulated amortization (568 ) (524 ) Intangible assets, net $ 745 $ 789
Schedule of Goodwill	The goodwill balance as of September 30, 2019 is comprised of the following ($ in millions): Goodwill acquired in business combinations, net of disposals $ 2,172 Accumulated impairment charges (1) (126 ) Other (3 ) Balance at September 30, 2019 $ 2,043 _______ (1) Accumulated impairment charges primarily relate to goodwill impairment charges at Atlantic Aviation recorded during the year ended December 31, 2009 and 2008.

Long-Term Debt (Tables)

Long-Term Debt (Tables)	9 Months Ended
	Sep. 30, 2019
Debt Disclosure [Abstract]
Schedule of Long-Term Debt	At September 30, 2019 and December 31, 2018 , the Company’s consolidated long-term debt balance comprised of the following ($ in millions): September 30, December 31, 2018 IMTT $ 1,109 $ 1,109 Atlantic Aviation 1,017 1,025 MIC Hawaii 195 196 MIC Corporate 387 734 Total 2,708 3,064 Current portion (11 ) (361 ) Long-term portion 2,697 2,703 Unamortized deferred financing costs (1) (43 ) (50 ) Long-term portion less unamortized debt discount and deferred financing costs $ 2,654 $ 2,653 ___________ (1) The weighted average remaining life of the deferred financing costs at September 30, 2019 was 5.5 years .
Convertible Debt	The 2.00% Convertible Senior Notes due October 2023 consisted of the following ($ in millions): September 30, December 31, 2018 Liability Component: Principal $ 403 $ 403 Unamortized debt discount (16 ) (19 ) Long-term debt, net of unamortized debt discount 387 384 Unamortized deferred financing costs (6 ) (7 ) Net carrying amount $ 381 $ 377 Equity Component $ 27 $ 27

Derivative Instruments and He_2

Derivative Instruments and Hedging Activities (Tables)	9 Months Ended
	Sep. 30, 2019
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 September 30, 2019 and December 31, 2018 were ($ in millions): Assets (Liabilities) at Fair Value Balance Sheet Classification September 30, December 31, 2018 Fair value of derivative instruments - other current assets $ 3 $ 11 Fair value of derivative instruments - other noncurrent assets 2 15 Total derivative contracts – assets $ 5 $ 26 Fair value of derivative instruments – other current liabilities $ (8 ) $ (3 ) Fair value of derivative instruments – other noncurrent liabilities (3 ) — Total derivative contracts – liabilities $ (11 ) $ (3 )
Schedule of Location of Hedging Activities	The Company’s hedging activities for the quarters and nine months ended September 30, 2019 and 2018 and the related location within the consolidated condensed statements of operations were ($ in millions): Income Statement Classification Amount of (Loss) Gain Recognized in Consolidated Condensed Statements of Operations Quarter Ended Nine Months Ended 2019 2018 2019 2018 Interest expense – interest rate caps $ (1 ) $ 2 $ (7 ) $ 9 Interest expense – interest rate swaps (1 ) 1 (7 ) 8 Cost of product sales – commodity swaps (6 ) 2 (11 ) 3 Total $ (8 ) $ 5 $ (25 ) $ 20

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	9 Months Ended
	Sep. 30, 2019
Equity [Abstract]
Schedule of Nonvested Restricted Stock Units Activity	The following represents unvested Special RSUs granted through 2019: 2019 Special Grants Number of RSUs (in units) Weighted Average Grant-Date Fair Value (per share) Unvested at December 31, 2018 — $ — Granted 6,067 40.30 Unvested at September 30, 2019 6,067 $ 40.30
Schedule of Nonvested Performance-based Units Activity	The following represents unvested LTIP grants through September 30, 2019 at the target level of performance: 2019 LTIP (at Target) Number of PSUs (in units) Weighted Average Grant-Date Fair Value (per share) Unvested at December 31, 2018 — $ — Granted 134,671 $ 39.59 Forfeited (7,577) $ 39.26 Unvested at September 30, 2019 127,094 $ 39.61
Schedule of Accumulated Other Comprehensive Income (Loss)	The following represents the changes and balances to the components of accumulated other comprehensive loss, net of taxes for the nine months ended September 30, 2019 and 2018 ($ in millions): Post-Retirement Benefit Plans, net of taxes Translation Adjustment, net of taxes (1) Total Stockholders’ Accumulated Other Comprehensive Loss, net of taxes Balance at December 31, 2017 $ (20 ) $ (10 ) $ (30 ) Translation adjustment — (2 ) (2 ) Balance at September 30, 2018 $ (20 ) $ (12 ) $ (32 ) Balance at December 31, 2018 $ (16 ) $ (14 ) $ (30 ) Translation adjustment — 1 1 Balance at September 30, 2019 $ (16 ) $ (13 ) $ (29 ) ___________ (1) Translation adjustment is presented net of tax expense of $1 million and tax benefit of $1 million for the nine months ended September 30, 2019 and 2018 , respectively.

Reportable Segments (Tables)

Reportable Segments (Tables)	9 Months Ended
	Sep. 30, 2019
Segment Reporting [Abstract]
Schedule of Revenue From External Customers	Nine Months Ended September 30, 2019 IMTT Atlantic Aviation MIC Hawaii Intercompany Adjustments Total Reportable Segments Service revenue Terminal services $ 68 $ — $ — $ — $ 68 Lease 326 — — (2 ) 324 Fuel — 519 — — 519 Hangar — 70 — — 70 Other 4 135 — — 139 Total service revenue $ 398 $ 724 $ — $ (2 ) $ 1,120 Product revenue Lease $ — $ — $ 4 $ — $ 4 Gas — — 171 — 171 Other — — 8 — 8 Total product revenue $ — $ — $ 183 $ — $ 183 Total revenue $ 398 $ 724 $ 183 $ (2 ) $ 1,303 Nine Months Ended September 30, 2018 IMTT Atlantic Aviation MIC Hawaii Intercompany Adjustments Total Reportable Segments Service revenue Terminal services $ 66 $ — $ — $ — $ 66 Lease 304 — — (3 ) 301 Fuel — 524 — — 524 Hangar — 66 — — 66 Construction — — 39 — 39 Other 16 125 3 — 144 Total service revenue $ 386 $ 715 $ 42 $ (3 ) $ 1,140 Product revenue Lease $ — $ — $ 3 $ — $ 3 Gas — — 172 — 172 Other — — 9 — 9 Total product revenue $ — $ — $ 184 $ — $ 184 Total revenue $ 386 $ 715 $ 226 $ (3 ) $ 1,324 Revenue from external customers for the Company’s consolidated reportable segments were ($ in millions): Quarter Ended September 30, 2019 IMTT Atlantic Aviation MIC Hawaii Intercompany Adjustments Total Reportable Segments Service revenue Terminal services $ 22 $ — $ — $ — $ 22 Lease 96 — — (1 ) 95 Fuel — 165 — — 165 Hangar — 24 — — 24 Other — 41 — — 41 Total service revenue $ 118 $ 230 $ — $ (1 ) $ 347 Product revenue Lease $ — $ — $ 2 $ — $ 2 Gas — — 54 — 54 Other — — 2 — 2 Total product revenue $ — $ — $ 58 $ — $ 58 Total revenue $ 118 $ 230 $ 58 $ (1 ) $ 405 Quarter Ended September 30, 2018 IMTT Atlantic Aviation MIC Hawaii Intercompany Adjustments Total Reportable Segments Service revenue Terminal services $ 19 $ — $ — $ — $ 19 Lease 98 — — (1 ) 97 Fuel — 173 — — 173 Hangar — 22 — — 22 Construction — — 8 — 8 Other 1 40 1 — 42 Total service revenue $ 118 $ 235 $ 9 $ (1 ) $ 361 Product revenue Lease $ — $ — $ 1 $ — $ 1 Gas — — 55 — 55 Other — — 4 — 4 Total product revenue $ — $ — $ 60 $ — $ 60 Total revenue $ 118 $ 235 $ 69 $ (1 ) $ 421
Schedule of EBITDA for Reportable Segments	EBITDA excluding non-cash items for the Company’s consolidated reportable segments from continuing operations is shown in the tables below ($ in millions). Allocations of corporate expenses, intercompany fees and the tax effect have been excluded as they are eliminated in consolidation. Quarter Ended September 30, 2019 IMTT Atlantic Aviation MIC Hawaii Corporate and Other Total Reportable Segments Net income (loss) $ 12 $ 14 $ 1 $ (12 ) $ 15 Interest expense, net 10 18 3 3 34 Provision (benefit) for income taxes 5 5 1 (4 ) 7 Depreciation 29 16 4 — 49 Amortization of intangibles 3 11 — — 14 Fees to Manager-related party — — — 8 8 Other non-cash expense 3 — 3 — 6 EBITDA excluding non-cash items $ 62 $ 64 $ 12 $ (5 ) $ 133 Quarter Ended September 30, 2018 IMTT Atlantic Aviation MIC Hawaii Corporate and Other Total Reportable Segments Net income (loss) $ 16 $ 25 $ (18 ) $ (21 ) $ 2 Interest expense, net 12 5 2 9 28 Provision (benefit) for income taxes 6 9 (7 ) (6 ) 2 Goodwill impairment — — 3 — 3 Depreciation 29 14 6 — 49 Amortization of intangibles 4 12 4 — 20 Fees to Manager-related party — — — 12 12 Other non-cash expense 2 — 5 — 7 EBITDA excluding non-cash items $ 69 $ 65 $ (5 ) $ (6 ) $ 123 Nine Months Ended September 30, 2019 IMTT Atlantic Aviation MIC Hawaii Corporate and Other Total Reportable Segments Net income (loss) $ 62 $ 48 $ 11 $ (36 ) $ 85 Interest expense, net 38 59 8 13 118 Provision (benefit) for income taxes 25 18 5 (15 ) 33 Depreciation 87 46 12 — 145 Amortization of intangibles 11 33 — — 44 Fees to Manager-related party — — — 23 23 Other non-cash expense 7 1 10 1 19 EBITDA excluding non-cash items $ 230 $ 205 $ 46 $ (14 ) $ 467 Nine Months Ended September 30, 2018 IMTT Atlantic Aviation MIC Hawaii Corporate and Other Total Reportable Segments Net income (loss) $ 60 $ 78 $ (11 ) $ (58 ) $ 69 Interest expense, net 31 9 5 26 71 Provision (benefit) for income taxes 24 29 (4 ) (17 ) 32 Goodwill impairment — — 3 — 3 Depreciation 87 43 13 — 143 Amortization of intangibles 12 35 6 — 53 Fees to Manager-related party — — — 36 36 Other non-cash expense 7 1 10 — 18 EBITDA excluding non-cash items $ 221 $ 195 $ 22 $ (13 ) $ 425 Reconciliations of total reportable segments’ EBITDA excluding non-cash items to consolidated net income from continuing operations before income taxes were ($ in millions): Quarter Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Total reportable segments EBITDA excluding non-cash items $ 133 $ 123 $ 467 $ 425 Interest income 2 — 6 — Interest expense (36 ) (28 ) (124 ) (71 ) Goodwill impairment — (3 ) — (3 ) Depreciation (49 ) (49 ) (145 ) (143 ) Amortization of intangibles (14 ) (20 ) (44 ) (53 ) Fees to Manager-related party (8 ) (12 ) (23 ) (36 ) Other expense, net (6 ) (7 ) (19 ) (18 ) Total consolidated net income from continuing operations before income taxes $ 22 $ 4 $ 118 $ 101
Schedule of Capital Expenditures	Capital expenditures, on a cash basis, for the Company’s reportable segments were ($ in millions): Quarter Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 IMTT $ 47 $ 18 $ 111 $ 42 Atlantic Aviation 17 16 44 52 MIC Hawaii 5 6 15 17 Corporate and other 1 5 2 20 Total capital expenditures of reportable segments $ 70 $ 45 $ 172 $ 131
Schedule of Reconciliation 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 millions): Property, Equipment, Land and Leasehold Improvements, net Goodwill Total Assets September 30, December 31, 2018 September 30, December 31, 2018 September 30, December 31, 2018 IMTT $ 2,273 $ 2,249 $ 1,427 $ 1,427 $ 4,135 $ 4,020 Atlantic Aviation 567 565 496 496 2,040 1,676 MIC Hawaii 303 300 120 120 528 501 Corporate and other 10 27 — — 221 599 Total assets of reportable segments $ 3,153 $ 3,141 $ 2,043 $ 2,043 $ 6,924 $ 6,796 Assets held for sale — — — — — 648 Total consolidated assets $ 3,153 $ 3,141 $ 2,043 $ 2,043 $ 6,924 $ 7,444

Long-Term Contracted Revenue (T

Long-Term Contracted Revenue (Tables)	9 Months Ended
	Sep. 30, 2019
Contractors [Abstract]
Schedule of Financing Receivables, Minimum Payments	The following long-term contracted revenue were in existence at September 30, 2019 ($ in millions): Lease Revenue (ASC 842) Contract Revenue (ASC 606) Total Long-Term Revenue 2019 remaining $ 81 $ 23 $ 104 2020 219 53 272 2021 123 33 156 2022 75 28 103 2023 49 20 69 Thereafter 111 18 129 Total $ 658 $ 175 $ 833

Related Party Transactions (Tab

Related Party Transactions (Tables)	9 Months Ended
	Sep. 30, 2019
Related Party Transactions [Abstract]
Schedule of Dividends Paid to Manager	Since January 1, 2018, the Company paid the Manager cash dividends on shares held for the following periods: Declared Period Covered $ per Record Date Payable Date Cash Dividend Paid to Manager October 29, 2019 Third quarter 2019 $ 1.00 November 11, 2019 November 14, 2019 (1) July 30, 2019 Second quarter 2019 1.00 August 12, 2019 August 15, 2019 $ 13 April 29, 2019 First quarter 2019 1.00 May 13, 2019 May 16, 2019 13 February 14, 2019 Fourth quarter 2018 1.00 March 4, 2019 March 7, 2019 13 October 30, 2018 Third quarter 2018 1.00 November 12, 2018 November 15, 2018 12 July 31, 2018 Second quarter 2018 1.00 August 13, 2018 August 16, 2018 11 May 1, 2018 First quarter 2018 1.00 May 14, 2018 May 17, 2018 6 February 19, 2018 Fourth quarter 2017 1.44 March 5, 2018 March 8, 2018 8 ___________ (1) The amount of dividend payable to the Manager for the third quarter of 2019 will be determined on November 11, 2019 , 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 Fee Amount ($ in millions) Performance Fee Amount ($ in millions) Shares Issued 2019 Activities: Third quarter 2019 $ 8 $ — 201,827 (1) Second quarter 2019 7 — 192,103 First quarter 2019 8 — 184,448 2018 Activities: Fourth quarter 2018 $ 9 $ — 220,208 Third quarter 2018 12 — 269,286 Second quarter 2018 11 — 277,053 First quarter 2018 13 — 265,002 ___________ (1) The Manager elected to reinvest all of the monthly base management fees for the third quarter of 2019 in new primary shares. The Company issued 201,827 shares for the quarter ended September 30, 2019 , including 67,659 shares that were issued in October 2019 for the September 2019 monthly base management fee.

Organization and Description _2

Organization and Description of Business (Details)	9 Months Ended
	Sep. 30, 2019terminalairportsegment
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Number of reportable segments | segment	4
IMTT
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Number of marine terminals	17
Canada- IMTT
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Number of marine terminals	2
Atlantic Aviation
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Number of airport locations | airport	70

Basis of Presentation (Narrativ

Basis of Presentation (Narrative) (Details) - USD ($)	Sep. 30, 2019	Dec. 31, 2018	Sep. 30, 2018
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	$ 473,000,000	$ 589,000,000	$ 49,000,000
Commercial Paper
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	$ 78,000,000	$ 0

Discontinued Operations and D_3

Discontinued Operations and Dispositions (Narrative) (Details) $ in Millions	Oct. 12, 2018USD ($)	Sep. 30, 2019USD ($)	Dec. 31, 2018MW	Sep. 30, 2018USD ($)	Sep. 30, 2019USD ($)	Sep. 30, 2018USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2019USD ($)	May 31, 2018property
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Taxes paid, net					$ 9	$ 11
Disposal Group, Disposed of by Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Transaction costs on business disposal					10
Taxes paid, net					9
Number of real estate properties | property									2
Loss write-down				$ 30
Disposal Group, Disposed of by Sale | Fixed Assets and Intangible Assets
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss write-down				$ 9
Bayonne Energy Center
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Transaction costs on business disposal							$ 9
Bayonne Energy Center | Disposal Group, Disposed of by Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash consideration from divestiture of businesses	$ 657
Debt assumed by buyer from divestiture of business	244
Gain (loss) on disposition of business	$ (17)
Solar and wind Facilities | Disposal Group, Disposed of by Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Debt assumed by buyer from divestiture of business		$ 295			$ 295
Gain (loss) on disposition of business		80
Proceeds from divestiture of business		275
Cash consideration net of transaction costs and taxes		$ 210
Solar Generating Assets | Disposal Group, Disposed of by Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Capacity of plant | MW			142
Wind Generation Assets | Disposal Group, Disposed of by Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Capacity of plant | MW			203
Forecast | Disposal Group, Disposed of by Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Accrued income tax payable, current								$ 55

Discontinued Operations and D_4

Discontinued Operations and Dispositions (Balance Sheets) (Details) - USD ($) $ in Millions	Dec. 31, 2018	Sep. 30, 2018
Liabilities
Noncontrolling interests	$ 141	$ 149
Contracted Power Segment | Discontinued Operations, Held-for-sale or Disposed of by Sale
Assets
Cash and cash equivalents	3
Restricted cash	14
Accounts receivable, net	9
Other current assets	5
Total current assets	31
Property, equipment, land and leasehold improvements, net	606
Intangible assets, net	9
Other noncurrent assets	2
Total assets	648
Liabilities
Accounts payable and accrued expenses	7
Current portion of long-term debt	20
Other current liabilities	1
Total current liabilities	28
Long term debt, net of current portion	283
Other noncurrent liabilities	6
Total liabilities	317
Noncontrolling interests	$ 141

Discontinued Operations and D_5

Discontinued Operations and Dispositions (Statement of Operations) (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net income from discontinued operations before income taxes	[1]	$ 78	$ 26	$ 86	$ 41
Provision for income taxes	[1]	(32)	(6)	(32)	(5)
Net income from discontinued operations	[1]	46	20	54	36
Less: net loss attributable to noncontrolling interests		0	0	(3)	(32)
Net income from discontinued operations attributable to MIC		46	20	57	68
Solar and wind Facilities | Disposal Group, Disposed of by Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain (loss) on disposition of business		80
Contracted Power Segment | Discontinued Operations, Held-for-sale or Disposed of by Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Product revenue		10	52	44	129
Cost of product sales		(1)	(8)	(7)	(20)
Selling, general & administrative expenses		(11)	(8)	(18)	(22)
Depreciation and amortization		0	(8)	0	(38)
Interest expense, net		(1)	(5)	(13)	(11)
Other income, net		81	3	80	3
Net income from discontinued operations before income taxes		78	26	86	41
Provision for income taxes		(32)	(6)	(32)	(5)
Net income from discontinued operations		46	20	54	36
Less: net loss attributable to noncontrolling interests		0	0	(3)	(32)
Net income from discontinued operations attributable to MIC		$ 46	$ 20	$ 57	$ 68
[1]	See Note 3, “Discontinued Operations and Dispositions”, for discussions on businesses classified as held for sale.

Implementation of ASU 2016-2 (D

Implementation of ASU 2016-2 (Details) - USD ($) $ in Millions	Sep. 30, 2019	Jan. 01, 2019	Dec. 31, 2018
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease, right-of-use asset	$ 330		$ 0
Operating lease, liability	$ 334
Accounting Standards Update 2016-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease, right-of-use asset		$ 351
Operating lease, liability		358
Accounting Standards Update 2016-02 | Discontinued Operations, Held-for-sale or Disposed of by Sale
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease, right-of-use asset		19
Operating lease, liability		$ 21

Leases (Narrative) (Details)

Leases (Narrative) (Details)	9 Months Ended
	Sep. 30, 2019renewal_option
Operating Leased Assets [Line Items]
Term of contract	12 months
Number of renewal options	1
Weighted average remaining lease term	18 years 8 months 12 days
Discount rate	8.60%
Minimum
Operating Leased Assets [Line Items]
Renewal term	1 year
Maximum
Operating Leased Assets [Line Items]
Renewal term	10 years

Leases (Consolidated condensed

Leases (Consolidated condensed statement of operations) (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2019
Operating Leased Assets [Line Items]
Total operating lease expense	$ 14	$ 41
Selling, general and administrative
Operating Leased Assets [Line Items]
Total operating lease expense	13	38
Service | Cost of product sales
Operating Leased Assets [Line Items]
Total operating lease expense	1	2
Product | Cost of product sales
Operating Leased Assets [Line Items]
Total operating lease expense	$ 0	$ 1

Leases (Future maturities of le

Leases (Future maturities of lease liabilities) (Details) $ in Millions	Sep. 30, 2019USD ($)
Leases [Abstract]
2019 remaining	$ 11
2020	46
2021	44
2022	42
2023	42
Thereafter	540
Total lease payment	725
Less: interest	(391)
Present value of lease liability	$ 334

Leases (Schedule of Future Mini

Leases (Schedule of Future Minimum Rental Commitments) (Details) $ in Millions	Dec. 31, 2018USD ($)
Leases [Abstract]
2019	$ 48
2020	44
2021	41
2022	40
2023	39
Thereafter	461
Total	$ 673

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 Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Numerator:
Net income from continuing operations attributable to MIC	$ 15	$ 2	$ 85	$ 69
Diluted net income from continuing operations attributable to MIC	15	2	85	69
Net income from discontinued operations attributable to MIC	$ 46	$ 20	$ 57	$ 68
Denominator:
Weighted average number of shares outstanding: basic (in shares)	86,276,237	85,378,088	86,075,394	85,095,956
Dilutive effect of restricted stock unit grants (in shares)	27,457	20,478	25,628	13,257
Weighted average number of shares outstanding: diluted (in shares)	86,303,694	85,398,566	86,101,022	85,109,213
Income per share:
Basic income per share from continuing operations attributable to MIC (in dollars per share)	$ 0.18	$ 0.02	$ 0.99	$ 0.81
Basic income per share from discontinued operations attributable to MIC (in dollars per share)	0.53	0.23	0.67	0.80
Basic income per share attributable to MIC (in dollars per share)	0.71	0.25	1.66	1.61
Diluted income per share from continuing operations attributable to MIC (in dollars per share)	0.18	0.02	0.99	0.81
Diluted income per share from discontinued operations attributable to MIC (in dollars per share)	0.53	0.23	0.67	0.80
Diluted income per share attributable to MIC (in dollars per share)	$ 0.71	$ 0.25	$ 1.66	$ 1.61

Income per Share (Schedule of S

Income per Share (Schedule of Shares Excluded from Calculation) (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Jul. 15, 2019
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	4,356,518	8,015,672	5,400,671	7,994,874
2.875% Convertible Senior Notes due July 2019
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	722,345	4,381,499	1,766,498	4,363,806
Interest rate, stated percentage	2.875%		2.875%		2.875%
2.00% Convertible Senior Notes due October 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	3,634,173	3,634,173	3,634,173	3,631,068
Interest rate, stated percentage	2.00%		2.00%

Property, Equipment, Land and_3

Property, Equipment, Land and Leasehold Improvements (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Property, Plant and Equipment [Line Items]
Property, plant and equipment	$ 4,222	$ 4,070
Less: accumulated depreciation	(1,069)	(929)
Property, equipment, land and leasehold improvements, net	3,153	3,141
Land
Property, Plant and Equipment [Line Items]
Property, plant and equipment	319	319
Buildings
Property, Plant and Equipment [Line Items]
Property, plant and equipment	40	40
Leasehold and land improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment	785	770
Machinery and equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment	2,843	2,783
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property, plant and equipment	48	45
Construction in progress
Property, Plant and Equipment [Line Items]
Property, plant and equipment	$ 187	$ 113

Intangible Assets and Goodwil_2

Intangible Assets and Goodwill (Schedule of Intangible Assets) (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	$ 1,313	$ 1,313
Less: accumulated amortization	(568)	(524)
Intangible assets, net	745	789
Contractual arrangements
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	921	921
Non-compete agreements
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	14	14
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	353	353
Trade names
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	16	16
Technology
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	$ 9	$ 9

Intangible Assets and Goodwil_3

Intangible Assets and Goodwill (Schedule of Goodwill) (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2019	Dec. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill acquired in business combinations, net of disposals	$ 2,172
Accumulated impairment charges	(126)
Other	(3)
Balance at September 30, 2019	$ 2,043	$ 2,043

Intangible Assets and Goodwil_4

Intangible Assets and Goodwill (Narrative) (Details) $ in Millions	Sep. 30, 2019USD ($)
Goodwill [Line Items]
Amount of fair value in excess of carrying amount	$ 2,200
Percentage of fair value in excess of carrying amount	33.00%
Atlantic Aviation
Goodwill [Line Items]
Amount of fair value in excess of carrying amount	$ 1,900
MIC Hawaii
Goodwill [Line Items]
Amount of fair value in excess of carrying amount	280
IMTT
Goodwill [Line Items]
Amount of fair value in excess of carrying amount	$ 20
Increase in discount rate	0.25%
Amount of fair value decrease due to a 0.25% discount rate increase	$ 70

Long-Term Debt (Schedule of Lon

Long-Term Debt (Schedule of Long-Term Debt) (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Total	$ 2,708	$ 3,064
Current portion	(11)	(361)
Long-term portion	2,697	2,703
Unamortized deferred financing costs	(43)	(50)
Long-term portion less unamortized debt discount and deferred financing costs	$ 2,654	2,653
Weighted average life of deferred financing costs	P5Y6M
IMTT
Debt Instrument [Line Items]
Total	$ 1,109	1,109
Atlantic Aviation
Debt Instrument [Line Items]
Total	1,017	1,025
MIC Hawaii
Debt Instrument [Line Items]
Total	195	196
MIC Corporate
Debt Instrument [Line Items]
Total	$ 387	$ 734

Long-Term Debt (Narrative) (Det

Long-Term Debt (Narrative) (Details)		Oct. 13, 2019USD ($)	Dec. 31, 2018USD ($)	Sep. 30, 2019USD ($)	Sep. 30, 2018USD ($)	Sep. 30, 2019USD ($)	Sep. 30, 2018USD ($)	Dec. 31, 2018USD ($)	Jan. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Debt Instrument [Line Items]
Letters of credit				$ 13,000,000		$ 13,000,000
Interest expense	[1]			36,000,000	$ 28,000,000	124,000,000	$ 71,000,000
Amortization of debt discount						3,000,000	3,000,000
Current and long-term debt			$ 3,064,000,000	2,708,000,000		2,708,000,000		$ 3,064,000,000
Revolving Credit Facility
Debt Instrument [Line Items]
Undrawn portion of line of credit				$ 1,610,000,000		$ 1,610,000,000
Convertible Senior Notes Due July 2019
Debt Instrument [Line Items]
Interest rate, stated percentage			2.875%					2.875%
Convertible senior notes			$ 350,000,000					$ 350,000,000
Debt instrument, term								5 years
Convertible Senior Notes Due October 2023
Debt Instrument [Line Items]
Interest rate, stated percentage				2.00%		2.00%
Convertible senior notes			384,000,000	$ 387,000,000		$ 387,000,000		$ 384,000,000
Debt instrument, term								7 years
Fair value of convertible senior notes				355,000,000		355,000,000
Interest expense				3,000,000	10,000,000	3,000,000	10,000,000
Amortization of debt discount				1,000,000	$ 4,000,000	1,000,000	$ 4,000,000
Subsequent Event | Convertible Senior Notes Due October 2023
Debt Instrument [Line Items]
Conversion rate		9.0290
Debt instrument, face amount		$ 1,000
MIC Corporate
Debt Instrument [Line Items]
Current and long-term debt			734,000,000	387,000,000		387,000,000		$ 734,000,000
MIC Corporate | Revolving Credit Facility
Debt Instrument [Line Items]
Undrawn portion of line of credit			600,000,000	600,000,000		600,000,000		600,000,000
Borrowing capacity									$ 600,000,000	$ 410,000,000
MIC Corporate | Convertible Senior Notes Due October 2023
Debt Instrument [Line Items]
Convertible senior notes			403,000,000	403,000,000		403,000,000		403,000,000
Current and long-term debt			384,000,000	387,000,000		387,000,000		384,000,000
IMTT
Debt Instrument [Line Items]
Current and long-term debt			1,109,000,000	1,109,000,000		1,109,000,000		1,109,000,000
IMTT | Senior Notes
Debt Instrument [Line Items]
Current and long-term debt				600,000,000		600,000,000
Debt instrument, fair value disclosure				630,000,000		630,000,000
IMTT | Revolving Credit Facility
Debt Instrument [Line Items]
Undrawn portion of line of credit			600,000,000	600,000,000		600,000,000		600,000,000
Borrowing capacity			600,000,000					600,000,000
IMTT | Tax Exempt Bonds
Debt Instrument [Line Items]
Borrowing capacity			$ 509,000,000					$ 509,000,000
Percentage of variable rate			80.00%					80.00%
IMTT | London Interbank Offered Rate (LIBOR) | Tax Exempt Bonds
Debt Instrument [Line Items]
Fixed portion of interest rate component			0.45%
Atlantic Aviation
Debt Instrument [Line Items]
Current and long-term debt			$ 1,025,000,000	1,017,000,000		$ 1,017,000,000		$ 1,025,000,000
Atlantic Aviation | Revolving Credit Facility
Debt Instrument [Line Items]
Debt instrument, term						5 years		5 years
Borrowing capacity			$ 350,000,000	350,000,000		$ 350,000,000		$ 350,000,000
Atlantic Aviation | Term Loan Facility
Debt Instrument [Line Items]
Debt instrument, term			7 years
Borrowing capacity			$ 1,025,000,000					$ 1,025,000,000
Hawaii Gas Business | Senior Notes
Debt Instrument [Line Items]
Current and long-term debt				100,000,000		100,000,000
Debt instrument, fair value disclosure				105,000,000		105,000,000
Hawaii Gas Business | Revolving Credit Facility
Debt Instrument [Line Items]
Undrawn portion of line of credit				60,000,000		60,000,000
Hawaii Gas Business | Term Loan Facility
Debt Instrument [Line Items]
Current and long-term debt				80,000,000		80,000,000
Hawaii Gas Business | Term Loan Facility | Solar facilities
Debt Instrument [Line Items]
Current and long-term debt				$ 15,000,000		$ 15,000,000
[1]	Interest expense includes losses on derivative instruments of $2 million and $14 million for the quarter and nine months ended September 30, 2019 , respectively. Interest expense includes gains on derivative instruments of $3 million and $17 million for the quarter and nine months ended September 30, 2018 , respectively.

Long-Term Debt (Schedule of 2.0

Long-Term Debt (Schedule of 2.00% Convertible Senior Notes) (Details) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2019	Dec. 31, 2018
Total	$ 2,708	$ 3,064
Unamortized deferred financing costs	(43)	(50)
MIC Corporate
Total	387	734
Convertible Senior Notes Due October 2023
Principal	387	384
Convertible Senior Notes Due October 2023 | MIC Corporate
Principal	403	403
Unamortized debt discount	(16)	(19)
Total	387	384
Unamortized deferred financing costs	(6)	(7)
Long-term portion less unamortized debt discount and deferred financing costs	381	377
Equity Component	$ 27	$ 27

Derivative Instruments and He_3

Derivative Instruments and Hedging Activities (Narrative) (Details) $ in Millions	Sep. 30, 2019USD ($)
Derivative [Line Items]
Current and long-term debt	$ 2,724
Fixed rate debt	1,102
Unhedged debt	676
Interest Rate Contracts
Derivative [Line Items]
Debt economically hedged with interest rate contracts	$ 946

Derivative Instruments and He_4

Derivative Instruments and Hedging Activities (Schedule of Fair Value of Derivative Instruments) (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Fair value of derivative instruments - other current assets	$ 3	$ 11
Fair value of derivative instruments - other noncurrent assets	2	15
Total derivative contracts – assets	5	26
Fair value of derivative instruments – other current liabilities	(8)	(3)
Fair value of derivative instruments – other noncurrent liabilities	(3)	0
Total derivative contracts – liabilities	$ (11)	$ (3)

Derivative Instruments and He_5

Derivative Instruments and Hedging Activities (Schedule of Location of Hedging Activities) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on derivative instruments	$ (8)	$ 5	$ (25)	$ 20
Interest Expense
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on derivative instruments	(2)	3	(14)	17
Interest Expense | Interest expense – interest rate caps
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on derivative instruments	(1)	2	(7)	9
Interest Expense | Interest expense – interest rate swaps
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on derivative instruments	(1)	1	(7)	8
Cost of product sales | Cost of product sales – commodity swaps
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on derivative instruments	$ (6)	$ 2	$ (11)	$ 3

Stockholders' Equity (Narrative

Stockholders' Equity (Narrative) (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2019	Mar. 28, 2019	Mar. 27, 2019	Dec. 31, 2018
Restricted Stock Units (RSUs)
Shares Activity [Line Items]
Weighted average period of unrecognized compensation costs	1 year 3 months 18 days
Granted (in shares)	6,067			0
Performance Shares
Shares Activity [Line Items]
Weighted average period of unrecognized compensation costs	2 years 3 months 18 days
Granted (in shares)	127,094			0
Grant date fair value of awards	$ 5
Allocated share-based compensation expense	1
Unrecognized compensation costs	$ 4
Minimum | Performance Shares
Shares Activity [Line Items]
Granted (in shares)	0
Maximum | Performance Shares
Shares Activity [Line Items]
Granted (in shares)	233,891
Omnibus Employee Incentive Plan 2016
Shares Activity [Line Items]
Number of shares authorized (in shares)		1,500,000	500,000
2019 Short Term Incentive Plan | Restricted Stock Units (RSUs)
Shares Activity [Line Items]
Cash component of an incentive award	75.00%
Stock component of an incentive award	25.00%
Payment award vesting period	1 year
Vesting period	2 years
2019 Short Term Incentive Plan | Tranche 1 | Restricted Stock Units (RSUs)
Shares Activity [Line Items]
Vesting percentage	50.00%
2019 Short Term Incentive Plan | Tranche 2 | Restricted Stock Units (RSUs)
Shares Activity [Line Items]
Vesting percentage	50.00%
2019 Long Term Incentive Plan
Shares Activity [Line Items]
Payment award vesting period	3 years
2019 Long Term Incentive Plan | Restricted Stock Units (RSUs)
Shares Activity [Line Items]
Number of shares granted (in shares)	0

Stockholders' Equity (Schedule

Stockholders' Equity (Schedule of Unvested Stock Unit) (Details)	9 Months Ended
	Sep. 30, 2019$ / sharesshares
Restricted Stock Units (RSUs)
Number of Units
Beginning balance (in shares) | shares	0
Granted (in shares) | shares	6,067
Ending balance (in shares) | shares	6,067
Weighted Average Grant-Date Fair Value (per share)
Beginning balance (in dollars per share) | $ / shares	$ 0
Granted (in dollars per share) | $ / shares	40.30
Ending balance (in dollars per share) | $ / shares	$ 40.30
Performance Shares
Number of Units
Beginning balance (in shares) | shares	0
Granted (in shares) | shares	134,671
Forfeited (in shares) | shares	(7,577)
Ending balance (in shares) | shares	127,094
Weighted Average Grant-Date Fair Value (per share)
Beginning balance (in dollars per share) | $ / shares	$ 0
Granted (in dollars per share) | $ / shares	39.59
Forfeited (in dollars per share) | $ / shares	39.26
Ending balance (in dollars per share) | $ / shares	$ 39.61

Stockholders' Equity (Schedul_2

Stockholders' Equity (Schedule of Accumulated Other Comprehensive Loss) (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance		$ 3,038	$ 3,244	$ 3,117	$ 3,350
Translation adjustment	[1]	(1)	1	1	(2)
Ending balance		2,883	3,196	2,883	3,196
Translation adjustment, net of tax expense (benefit)				1	(1)
Total Stockholders’ Accumulated Other Comprehensive Loss, net of taxes
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance		(28)	(33)	(30)	(30)
Ending balance		(29)	(32)	(29)	(32)
Post-Retirement Benefit Plans, net of taxes
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance				(16)	(20)
Translation adjustment				0	0
Ending balance		(16)	(20)	(16)	(20)
Translation Adjustment, net of taxes
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance				(14)	(10)
Translation adjustment				1	(2)
Ending balance		$ (13)	$ (12)	$ (13)	$ (12)
[1]	Translation adjustment is presented net of tax expense of $1 million and tax benefit of $1 million for the nine months ended September 30, 2019 and 2018 , respectively.

Reportable Segments (Narrative)

Reportable Segments (Narrative) (Details)	9 Months Ended
	Sep. 30, 2019terminalairportsegmentfacility
Segment Reporting Information [Line Items]
Number of reportable segments | segment	4
Weighted average remaining lease term	18 years 8 months 12 days
Canada- IMTT
Segment Reporting Information [Line Items]
Number of marine terminals	2
Canada- IMTT | Quebec Marine Terminal
Segment Reporting Information [Line Items]
Number of marine terminals	1
Canada- IMTT | Newfoundland Marine Terminal | Partially Owned
Segment Reporting Information [Line Items]
Number of marine terminals	1
IMTT
Segment Reporting Information [Line Items]
Number of marine terminals	17
Weighted average remaining lease term	1 year 10 months 24 days
Atlantic Aviation
Segment Reporting Information [Line Items]
Number of airport locations | airport	70
MIC Hawaii
Segment Reporting Information [Line Items]
Number of solar projects | facility	2
MIC Hawaii | Minimum
Segment Reporting Information [Line Items]
Life of purchase power agreements	20 years

Reportable Segments (Revenue fr

Reportable Segments (Revenue from external customers for the Company's consolidated reportable segments) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Segment Reporting Information [Line Items]
Total revenue	$ 405	$ 421	$ 1,303	$ 1,324
Total service revenue
Segment Reporting Information [Line Items]
Total revenue	347	361	1,120	1,140
Terminal services
Segment Reporting Information [Line Items]
Total revenue	22	19	68	66
Lease
Segment Reporting Information [Line Items]
Total revenue	95	97	324	301
Fuel
Segment Reporting Information [Line Items]
Total revenue	165	173	519	524
Hangar
Segment Reporting Information [Line Items]
Total revenue	24	22	70	66
Construction
Segment Reporting Information [Line Items]
Total revenue		8		39
Other
Segment Reporting Information [Line Items]
Total revenue	41	42	139	144
Total product revenue
Segment Reporting Information [Line Items]
Total revenue	58	60	183	184
Lease
Segment Reporting Information [Line Items]
Total revenue	2	1	4	3
Gas
Segment Reporting Information [Line Items]
Total revenue	54	55	171	172
Other
Segment Reporting Information [Line Items]
Total revenue	2	4	8	9
Operating Segments | IMTT
Segment Reporting Information [Line Items]
Total revenue	118	118	398	386
Operating Segments | Atlantic Aviation
Segment Reporting Information [Line Items]
Total revenue	230	235	724	715
Operating Segments | MIC Hawaii
Segment Reporting Information [Line Items]
Total revenue	58	69	183	226
Operating Segments | Total service revenue | IMTT
Segment Reporting Information [Line Items]
Total revenue	118	118	398	386
Operating Segments | Total service revenue | Atlantic Aviation
Segment Reporting Information [Line Items]
Total revenue	230	235	724	715
Operating Segments | Total service revenue | MIC Hawaii
Segment Reporting Information [Line Items]
Total revenue	0	9	0	42
Operating Segments | Terminal services | IMTT
Segment Reporting Information [Line Items]
Total revenue	22	19	68	66
Operating Segments | Terminal services | Atlantic Aviation
Segment Reporting Information [Line Items]
Total revenue	0	0	0	0
Operating Segments | Terminal services | MIC Hawaii
Segment Reporting Information [Line Items]
Total revenue	0	0	0	0
Operating Segments | Lease | IMTT
Segment Reporting Information [Line Items]
Total revenue	96	98	326	304
Operating Segments | Lease | Atlantic Aviation
Segment Reporting Information [Line Items]
Total revenue	0	0	0	0
Operating Segments | Lease | MIC Hawaii
Segment Reporting Information [Line Items]
Total revenue	0	0	0	0
Operating Segments | Fuel | IMTT
Segment Reporting Information [Line Items]
Total revenue	0	0	0	0
Operating Segments | Fuel | Atlantic Aviation
Segment Reporting Information [Line Items]
Total revenue	165	173	519	524
Operating Segments | Fuel | MIC Hawaii
Segment Reporting Information [Line Items]
Total revenue	0	0	0	0
Operating Segments | Hangar | IMTT
Segment Reporting Information [Line Items]
Total revenue	0	0	0	0
Operating Segments | Hangar | Atlantic Aviation
Segment Reporting Information [Line Items]
Total revenue	24	22	70	66
Operating Segments | Hangar | MIC Hawaii
Segment Reporting Information [Line Items]
Total revenue	0	0	0	0
Operating Segments | Construction | IMTT
Segment Reporting Information [Line Items]
Total revenue		0		0
Operating Segments | Construction | Atlantic Aviation
Segment Reporting Information [Line Items]
Total revenue		0		0
Operating Segments | Construction | MIC Hawaii
Segment Reporting Information [Line Items]
Total revenue		8		39
Operating Segments | Other | IMTT
Segment Reporting Information [Line Items]
Total revenue	0	1	4	16
Operating Segments | Other | Atlantic Aviation
Segment Reporting Information [Line Items]
Total revenue	41	40	135	125
Operating Segments | Other | MIC Hawaii
Segment Reporting Information [Line Items]
Total revenue	0	1	0	3
Operating Segments | Total product revenue | IMTT
Segment Reporting Information [Line Items]
Total revenue	0	0	0	0
Operating Segments | Total product revenue | Atlantic Aviation
Segment Reporting Information [Line Items]
Total revenue	0	0	0	0
Operating Segments | Total product revenue | MIC Hawaii
Segment Reporting Information [Line Items]
Total revenue	58	60	183	184
Operating Segments | Lease | IMTT
Segment Reporting Information [Line Items]
Total revenue	0	0	0	0
Operating Segments | Lease | Atlantic Aviation
Segment Reporting Information [Line Items]
Total revenue	0	0	0	0
Operating Segments | Lease | MIC Hawaii
Segment Reporting Information [Line Items]
Total revenue	2	1	4	3
Operating Segments | Gas | IMTT
Segment Reporting Information [Line Items]
Total revenue	0	0	0	0
Operating Segments | Gas | Atlantic Aviation
Segment Reporting Information [Line Items]
Total revenue	0	0	0	0
Operating Segments | Gas | MIC Hawaii
Segment Reporting Information [Line Items]
Total revenue	54	55	171	172
Operating Segments | Other | IMTT
Segment Reporting Information [Line Items]
Total revenue	0	0	0	0
Operating Segments | Other | Atlantic Aviation
Segment Reporting Information [Line Items]
Total revenue	0	0	0	0
Operating Segments | Other | MIC Hawaii
Segment Reporting Information [Line Items]
Total revenue	2	4	8	9
Intercompany Adjustments
Segment Reporting Information [Line Items]
Total revenue	(1)	(1)	(2)	(3)
Intercompany Adjustments | Total service revenue
Segment Reporting Information [Line Items]
Total revenue	(1)	(1)	(2)	(3)
Intercompany Adjustments | Terminal services
Segment Reporting Information [Line Items]
Total revenue	0	0	0	0
Intercompany Adjustments | Lease
Segment Reporting Information [Line Items]
Total revenue	(1)	(1)	(2)	(3)
Intercompany Adjustments | Fuel
Segment Reporting Information [Line Items]
Total revenue	0	0	0	0
Intercompany Adjustments | Hangar
Segment Reporting Information [Line Items]
Total revenue	0	0	0	0
Intercompany Adjustments | Construction
Segment Reporting Information [Line Items]
Total revenue		0		0
Intercompany Adjustments | Other
Segment Reporting Information [Line Items]
Total revenue	0	0	0	0
Intercompany Adjustments | Total product revenue
Segment Reporting Information [Line Items]
Total revenue	0	0	0	0
Intercompany Adjustments | Lease
Segment Reporting Information [Line Items]
Total revenue	0	0	0	0
Intercompany Adjustments | Gas
Segment Reporting Information [Line Items]
Total revenue	0	0	0	0
Intercompany Adjustments | Other
Segment Reporting Information [Line Items]
Total revenue	$ 0	$ 0	$ 0	$ 0

Reportable Segments (Schedule o

Reportable Segments (Schedule of EBITDA for Reportable Segments) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Segment Reporting Information [Line Items]
Net income (loss)	$ 15	$ 2	$ 85	$ 69
Interest expense, net	34	28	118	71
Provision (benefit) for income taxes	7	2	33	32
Goodwill impairment	0	3	0	3
Depreciation	49	49	145	143
Amortization of intangibles	14	20	44	53
Fees to Manager-related party	8	12	23	36
Other non-cash expense	6	7	19	18
EBITDA excluding non-cash items	133	123	467	425
IMTT
Segment Reporting Information [Line Items]
Net income (loss)	12	16	62	60
Interest expense, net	10	12	38	31
Provision (benefit) for income taxes	5	6	25	24
Goodwill impairment		0		0
Depreciation	29	29	87	87
Amortization of intangibles	3	4	11	12
Fees to Manager-related party	0	0	0	0
Other non-cash expense	3	2	7	7
EBITDA excluding non-cash items	62	69	230	221
Atlantic Aviation
Segment Reporting Information [Line Items]
Net income (loss)	14	25	48	78
Interest expense, net	18	5	59	9
Provision (benefit) for income taxes	5	9	18	29
Goodwill impairment		0		0
Depreciation	16	14	46	43
Amortization of intangibles	11	12	33	35
Fees to Manager-related party	0	0	0	0
Other non-cash expense	0	0	1	1
EBITDA excluding non-cash items	64	65	205	195
MIC Hawaii
Segment Reporting Information [Line Items]
Net income (loss)	1	(18)	11	(11)
Interest expense, net	3	2	8	5
Provision (benefit) for income taxes	1	(7)	5	(4)
Goodwill impairment		3		3
Depreciation	4	6	12	13
Amortization of intangibles	0	4	0	6
Fees to Manager-related party	0	0	0	0
Other non-cash expense	3	5	10	10
EBITDA excluding non-cash items	12	(5)	46	22
Corporate and Other
Segment Reporting Information [Line Items]
Net income (loss)	(12)	(21)	(36)	(58)
Interest expense, net	3	9	13	26
Provision (benefit) for income taxes	(4)	(6)	(15)	(17)
Goodwill impairment		0		0
Depreciation	0	0	0	0
Amortization of intangibles	0	0	0	0
Fees to Manager-related party	8	12	23	36
Other non-cash expense	0	0	1	0
EBITDA excluding non-cash items	$ (5)	$ (6)	$ (14)	$ (13)

Reportable Segments (Schedule_2

Reportable Segments (Schedule of Reconciliation of EBITDA for Reportable Segments) (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Segment Reporting [Abstract]
Total reportable segments EBITDA excluding non-cash items		$ 133	$ 123	$ 467	$ 425
Interest income		2	0	6	0
Interest expense	[1]	(36)	(28)	(124)	(71)
Goodwill impairment		0	(3)	0	(3)
Depreciation		(49)	(49)	(145)	(143)
Amortization of intangibles		(14)	(20)	(44)	(53)
Fees to Manager-related party		(8)	(12)	(23)	(36)
Other expense, net		(6)	(7)	(19)	(18)
Net income from continuing operations before income taxes		$ 22	$ 4	$ 118	$ 101
[1]	Interest expense includes losses on derivative instruments of $2 million and $14 million for the quarter and nine months ended September 30, 2019 , respectively. Interest expense includes gains on derivative instruments of $3 million and $17 million for the quarter and nine months ended September 30, 2018 , respectively.

Reportable Segments (Schedule_3

Reportable Segments (Schedule of Capital Expenditures) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Segment Reporting Information [Line Items]
Capital expenditures	$ 70	$ 45	$ 172	$ 131
IMTT
Segment Reporting Information [Line Items]
Capital expenditures	47	18	111	42
Atlantic Aviation
Segment Reporting Information [Line Items]
Capital expenditures	17	16	44	52
MIC Hawaii
Segment Reporting Information [Line Items]
Capital expenditures	5	6	15	17
Corporate and Other
Segment Reporting Information [Line Items]
Capital expenditures	$ 1	$ 5	$ 2	$ 20

Reportable Segments (Schedule_4

Reportable Segments (Schedule of Assets of Reportable Segments) (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Segment Reporting Information [Line Items]
Property, Equipment, Land and Leasehold Improvements, net	$ 3,153	$ 3,141
Goodwill	2,043	2,043
Total Assets	6,924	7,444
Operating Segments
Segment Reporting Information [Line Items]
Property, Equipment, Land and Leasehold Improvements, net	3,153	3,141
Goodwill	2,043	2,043
Total Assets	6,924	6,796
IMTT | Operating Segments
Segment Reporting Information [Line Items]
Property, Equipment, Land and Leasehold Improvements, net	2,273	2,249
Goodwill	1,427	1,427
Total Assets	4,135	4,020
Atlantic Aviation | Operating Segments
Segment Reporting Information [Line Items]
Property, Equipment, Land and Leasehold Improvements, net	567	565
Goodwill	496	496
Total Assets	2,040	1,676
MIC Hawaii | Operating Segments
Segment Reporting Information [Line Items]
Property, Equipment, Land and Leasehold Improvements, net	303	300
Goodwill	120	120
Total Assets	528	501
Corporate and Other | Operating Segments
Segment Reporting Information [Line Items]
Property, Equipment, Land and Leasehold Improvements, net	10	27
Goodwill	0	0
Total Assets	221	599
Assets held for sale | Segment Reconciling Items
Segment Reporting Information [Line Items]
Property, Equipment, Land and Leasehold Improvements, net	0	0
Goodwill	0	0
Total Assets	$ 0	$ 648

Long-Term Contracted Revenue (D

Long-Term Contracted Revenue (Details) $ in Millions	Sep. 30, 2019USD ($)
Lease Revenue (ASC 842)
2019 remaining	$ 11
2020	46
2021	44
2022	42
2023	42
Thereafter	540
Total lease payment	725
Total Long-Term Revenue
2019 remaining	104
2020	272
2021	156
2022	103
2023	69
Thereafter	129
Total	833
Lease Revenue (ASC 842)
Lease Revenue (ASC 842)
2019 remaining	81
2020	219
2021	123
2022	75
2023	49
Thereafter	111
Total lease payment	658
Contract Revenue (ASC 606)
Contract Revenue (ASC 606)
2019 remaining	23
2020	53
2021	33
2022	28
2023	20
Thereafter	18
Total	$ 175

Related Party Transactions (Nar

Related Party Transactions (Narrative) (Details)	1 Months Ended			3 Months Ended							9 Months Ended		11 Months Ended
	Sep. 30, 2019USD ($)shares	May 31, 2018USD ($)property	Jan. 31, 2018USD ($)	Sep. 30, 2019USD ($)shares	Jun. 30, 2019USD ($)shares	Mar. 31, 2019USD ($)shares	Dec. 31, 2018USD ($)shares	Sep. 30, 2018USD ($)shares	Jun. 30, 2018USD ($)shares	Mar. 31, 2018USD ($)shares	Sep. 30, 2019USD ($)shares	Sep. 30, 2018USD ($)	Sep. 30, 2019USD ($)shares	Dec. 31, 2017USD ($)
Related Party Transaction [Line Items]
Base management fees to be settled				$ 8,000,000	$ 7,000,000	$ 8,000,000	$ 9,000,000	$ 12,000,000	$ 11,000,000	$ 13,000,000
Percentage of cap on base management fee													1.00%
Shares Issued (in shares) | shares	67,659			201,827	192,103	184,448	220,208	269,286	277,053	265,002
Macquarie Infrastructure and Real Assets Inc
Related Party Transaction [Line Items]
Number of real estate properties | property		2
Proceeds from sale of equity interest to related party		$ 27,000,000
MIC Corporate
Related Party Transaction [Line Items]
Percentage of future earnings		20.00%
Threshold for sale to third party (more than)		50.00%
MIC Corporate | Revolving Credit Facility
Related Party Transaction [Line Items]
Borrowing capacity			$ 600,000,000											$ 410,000,000
Management
Related Party Transaction [Line Items]
Shares of the Company held by Manager, a related party (in shares) | shares	13,048,205			13,048,205			12,477,438				13,048,205		13,048,205
Base management fees to be settled				$ 8,000,000				$ 12,000,000			$ 23,000,000	$ 36,000,000
Related party transaction, expenses				76,000				296,000			653,000	705,000
Accrued professional fees	$ 294,000			294,000							294,000		$ 294,000
MIHI LLC
Related Party Transaction [Line Items]
Borrowing capacity			50,000,000
Macquarie Capital Funding LLC
Related Party Transaction [Line Items]
Closing fees			80,000
Macquarie Capital Funding LLC | Revolving Credit Facility
Related Party Transaction [Line Items]
Borrowing capacity			$ 40,000,000
Macquarie Capital Funding LLC | MIC Corporate | Revolving Credit Facility
Related Party Transaction [Line Items]
Interest costs incurred				45,000				$ 139,000			120,000	$ 376,000
Indirect Subsidiaries Within Macquarie Group | IMTT
Related Party Transaction [Line Items]
Revenues											$ 1,000,000
Advisory Services | Former Board of Director
Related Party Transaction [Line Items]
Related party transaction, expenses				$ 75,000

Related Party Transactions (Sch

Related Party Transactions (Schedule of Dividends Paid to Manager) (Details) - USD ($) $ / shares in Units, $ in Millions	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017
Related Party Transactions [Abstract]
Cash dividend declared per share (in dollars per share)	$ 1	$ 1	$ 1	$ 1	$ 1	$ 1	$ 1	$ 1.44
Cash Paid to Manager		$ 13	$ 13	$ 13	$ 12	$ 11	$ 6	$ 8

Related Party Transactions (S_2

Related Party Transactions (Schedule of Base Management Fees and Performance Fees) (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended
	Sep. 30, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018
Related Party Transactions [Abstract]
Base Management Fee Amount		$ 8	$ 7	$ 8	$ 9	$ 12	$ 11	$ 13
Performance Fee Amount		$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0
Shares Issued (in shares)	67,659	201,827	192,103	184,448	220,208	269,286	277,053	265,002

Subsequent Events (Details)

Subsequent Events (Details) - $ / shares	Oct. 29, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017
Subsequent Event [Line Items]
Cash dividend declared per share (in dollars per share)		$ 1	$ 1	$ 1	$ 1	$ 1	$ 1	$ 1	$ 1.44
Subsequent Event
Subsequent Event [Line Items]
Cash dividend declared per share (in dollars per share)	$ 1