Document_And_Entity_Informatio
Document And Entity Information | 6 Months Ended | |
Jun. 30, 2014 | Jul. 29, 2014 | |
Document And Entity Information [Abstract] | ' | ' |
Entity Registrant Name | 'SEACOR HOLDINGS INC /NEW/ | ' |
Entity Central Index Key | '0000859598 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Filer Category | 'Accelerated Filer | ' |
Document Type | '10-Q | ' |
Document Period End Date | 30-Jun-14 | ' |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'Q2 | ' |
Amendment Flag | 'false | ' |
Entity Common Stock, Shares Outstanding | ' | 19,822,438 |
Entity Well-known Seasoned Issuer | 'Yes | ' |
Entity Voluntary Filers | 'No | ' |
Entity Current Reporting Status | 'Yes | ' |
Condensed_Consolidated_Balance
Condensed Consolidated Balance Sheets (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Current Assets: | ' | ' |
Cash and cash equivalents | $453,415 | $527,435 |
Restricted cash | 14,346 | 12,175 |
Marketable securities | 33,275 | 24,292 |
Receivables: | ' | ' |
Trade, net of allowance for doubtful accounts | 198,768 | 215,768 |
Other Receivables | 50,571 | 48,181 |
Inventories | 20,207 | 27,615 |
Deferred income taxes | 116 | 116 |
Prepaid expenses and other | 12,837 | 6,701 |
Total current assets | 783,535 | 862,283 |
Property and Equipment: | ' | ' |
Property, Plant and Equipment, Gross | 2,216,627 | 2,199,183 |
Accumulated depreciation | 888,442 | 866,330 |
Property, Plant and Equipment, Net In Service | 1,328,185 | 1,332,853 |
Construction in Progress, Gross | 297,523 | 143,482 |
Net property and equipment | 1,625,708 | 1,476,335 |
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures | 484,164 | 440,853 |
Construction Reserve Funds & Title XI Reserve Funds | 324,856 | 261,739 |
Goodwill | 18,012 | 17,985 |
Intangible Assets, Net | 10,754 | 12,423 |
Other Assets | 48,964 | 44,615 |
Total assets | 3,295,993 | 3,116,233 |
Current Liabilities: | ' | ' |
Current portion of long-term debt | 43,557 | 45,323 |
Accounts payable and accrued expenses | 87,235 | 85,477 |
Other current liabilities | 119,501 | 123,619 |
Total current liabilities | 250,293 | 254,419 |
Long-Term Debt | 830,303 | 834,118 |
Deferred Income Taxes | 456,403 | 457,827 |
Deferred Gains and Other Liabilities | 175,229 | 144,441 |
Total liabilities | 1,712,228 | 1,690,805 |
SEACOR Holdings Inc. stockholders’ equity: | ' | ' |
Preferred stock, $.01 par value, 10,000,000 shares authorized; none issued nor outstanding | 0 | 0 |
Common stock, $.01 par value, 60,000,000 shares authorized; 37,458,240 and 37,219,201 shares issued in 2014 and 2013, respectively | 375 | 372 |
Additional paid-in capital | 1,479,942 | 1,394,621 |
Retained earnings | 1,127,846 | 1,095,270 |
Shares held in Treasury of 17,,314,425 and 16,837,113 in 2014 and 2013, respectively, at cost | 1,126,322 | 1,088,219 |
Accumulated Other Comprehensive Income (Loss), Net of Tax | 225 | -1,192 |
Stockholders' equity attributable to parent, total | 1,482,066 | 1,400,852 |
Noncontrolling interests in subsidiaries | 101,699 | 24,576 |
Total equity | 1,583,765 | 1,425,428 |
Liabilities and stockholders' equity, total | $3,295,993 | $3,116,233 |
Condensed_Consolidated_Balance1
Condensed Consolidated Balance Sheets (Parenthetical) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, except Share data, unless otherwise specified | ||
Statement of Financial Position [Abstract] | ' | ' |
Trade receivables, allowance for doubtful accounts | $2,260 | $1,162 |
Common Stock, Par or Stated Value Per Share | $0.01 | $0.01 |
Common stock, shares authorized | 60,000,000 | 60,000,000 |
Common stock, shares issued | 37,458,240 | 37,219,201 |
Treasury stock, shares | 17,314,425 | 16,837,113 |
Preferred stock, par value | $0.01 | $0.01 |
Preferred stock, shares authorized | 10,000,000 | 10,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Condensed_Consolidated_Stateme
Condensed Consolidated Statements Of Income (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Income Statement [Abstract] | ' | ' | ' | ' |
Document Period End Date | ' | ' | 30-Jun-14 | ' |
Operating Revenues | $328,224 | $315,563 | $638,241 | $582,627 |
Costs and Expenses [Abstract] | ' | ' | ' | ' |
Operating | 231,906 | 240,113 | 450,882 | 441,026 |
Administrative and general | 34,686 | 34,718 | 72,763 | 70,363 |
Depreciation and amortization | 33,220 | 33,783 | 66,612 | 67,331 |
Total costs and expenses | 299,812 | 308,614 | 590,257 | 578,720 |
Gain (Loss) on Sale of Assets and Asset Impairment Charges | 4,295 | 12,305 | 8,973 | 14,320 |
Operating Income (Loss) | 32,707 | 19,254 | 56,957 | 18,227 |
Other Income (Expense): | ' | ' | ' | ' |
Interest income | 6,030 | 3,218 | 10,073 | 6,385 |
Interest expense | 10,458 | 7,922 | 21,861 | 20,762 |
Marketable security gains, net | 731 | 6,557 | 5,801 | 10,552 |
Derivative losses, net | 94 | -825 | -143 | -2,932 |
Foreign currency losses, net | 1,720 | -916 | 1,521 | -4,927 |
Other, net | 10,213 | 195 | 6,558 | 198 |
Total Other Nonoperating Income (Expense) | 8,330 | 307 | 1,949 | -11,486 |
Income from Continuing Operations Before Income Tax Expense and Equity in Earnings of 50% or Less Owned Companies | 41,037 | 19,561 | 58,906 | 6,741 |
Income Tax Expense (Benefit) | 13,000 | 7,975 | 19,375 | 5,322 |
Income from Continuing Operations Before Equity in Earnings of 50% or Less Owned Companies | 28,037 | 11,586 | 39,531 | 1,419 |
Equity in Earnings (Losses) of 50% or Less Owned Companies, Net of Tax | -512 | 7,710 | 1,709 | 6,841 |
Income from Continuing Operations | 27,525 | 19,296 | 41,240 | 8,260 |
Income (Loss) from Discontinued Operations, Net of Tax | 0 | 0 | 0 | -10,325 |
Net Income (Loss) | 27,525 | 19,296 | 41,240 | -2,065 |
Net Income (Loss) Attributable to Noncontrolling Interest | 6,458 | 25 | 8,664 | -348 |
Net Income (Loss) attributable to SEACOR Holdings Inc. | 21,067 | 19,271 | 32,576 | -1,717 |
Net Income (Loss) attributable to SEACOR Holdings Inc.: | ' | ' | ' | ' |
Continuing operations | 21,067 | 19,271 | 32,576 | 8,508 |
Discontinued operations, net of tax | 0 | 0 | 0 | -10,225 |
Net Income (Loss) attributable to SEACOR Holdings Inc. | $21,067 | $19,271 | $32,576 | ($1,717) |
Basic Earnings Per Common Share of SEACOR Holdings Inc. | ' | ' | ' | ' |
Continuing operations | $1.05 | $0.97 | $1.62 | $0.43 |
Discontinued operations | $0 | $0 | $0 | ($0.52) |
Earnings Per Share, Basic | $1.05 | $0.97 | $1.62 | ($0.09) |
Diluted Earnings Per Common Share of SEACOR Holdings Inc. | ' | ' | ' | ' |
Continuing operations | $0.98 | $0.91 | $1.58 | $0.42 |
Discontinued operations | $0 | $0 | $0 | ($0.51) |
Earnings Per Share, Diluted | $0.98 | $0.91 | $1.58 | ($0.09) |
Weighted Average Common Shares Outstanding: | ' | ' | ' | ' |
Basic | 19,989,402 | 19,825,229 | 20,049,056 | 19,782,318 |
Weighted Average Number of Shares Outstanding, Diluted | 24,584,494 | 24,392,312 | 24,665,869 | 20,114,904 |
Condensed_Consolidated_Stateme1
Condensed Consolidated Statements Of Comprehensive Income (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Net Income (Loss) | $27,525 | $19,296 | $41,240 | ($2,065) |
Other Comprehensive Income (Loss): | ' | ' | ' | ' |
Reclassification of net foreign currency translation losses to foreign currency gains, net | 1,826 | -340 | 2,238 | -4,538 |
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, before Tax | -11 | 0 | -11 | 0 |
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, before Tax | 50 | 331 | ' | ' |
Other Comprehensive Income (Loss), before Tax | 1,967 | 142 | 2,419 | -3,840 |
Other Comprehensive Income (Loss), Tax | 621 | 41 | 763 | -1,186 |
Other Comprehensive Income (Loss), Net of Tax | 1,346 | 101 | 1,656 | -2,654 |
Comprehensive Income (Loss) | 28,871 | 19,397 | 42,896 | -4,719 |
Comprehensive Income (Loss) attributable to Noncontrolling Interests in Subsidiaries | 6,650 | 48 | 8,903 | -800 |
Comprehensive Income (Loss) attributable to SEACOR Holdings Inc. | 22,221 | 19,349 | 33,993 | -3,919 |
Equity Method Investments [Member] | ' | ' | ' | ' |
Other Comprehensive Income (Loss): | ' | ' | ' | ' |
Reclassification of net derivative losses on cash flow hedges to interest expense or equity in earnings of 50% or less owned companies | $102 | $151 | $215 | $318 |
Condensed_Consolidated_Stateme2
Condensed Consolidated Statement Of Changes In Equity (USD $) | 3 Months Ended | 6 Months Ended | |
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2014 | Dec. 31, 2013 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' |
Total equity | $1,583,765 | $1,583,765 | $1,425,428 |
Employee Stock Purchase Plan | ' | 1,201 | ' |
Exercise of stock options | ' | 4,916 | ' |
Director stock awards | ' | -103 | ' |
Restricted stock | ' | 170 | ' |
Purchases of treasury shares | ' | -39,221 | ' |
Amortization of share awards | ' | 6,484 | ' |
Stock Issued During Period, Value, Restricted Stock Award, Forfeitures | ' | 0 | ' |
Noncontrolling Interest, Decrease from Redemptions or Purchase of Interests | ' | -3,110 | ' |
Noncontrolling Interest, Increase from Subsidiary Equity Issuance | ' | 145,690 | ' |
Dividends paid to noncontrolling interests | ' | 792 | ' |
Comprehensive income: | ' | ' | ' |
Net Income attributable to SEACOR Holdings Inc. | 21,067 | 32,576 | ' |
Net Income (Loss) Attributable to Noncontrolling Interest | 6,458 | 8,664 | ' |
Net income | 27,525 | 41,240 | ' |
Other comprehensive income | 1,346 | 1,656 | ' |
Common Stock [Member] | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' |
Total equity | 375 | 375 | 372 |
Employee Stock Purchase Plan | ' | 0 | ' |
Exercise of stock options | ' | 1 | ' |
Director stock awards | ' | 0 | ' |
Restricted stock | ' | 2 | ' |
Purchases of treasury shares | ' | 0 | ' |
Amortization of share awards | ' | 0 | ' |
Stock Issued During Period, Value, Restricted Stock Award, Forfeitures | ' | 0 | ' |
Noncontrolling Interest, Decrease from Redemptions or Purchase of Interests | ' | 0 | ' |
Noncontrolling Interest, Increase from Subsidiary Equity Issuance | ' | 0 | ' |
Dividends paid to noncontrolling interests | ' | 0 | ' |
Comprehensive income: | ' | ' | ' |
Net Income attributable to SEACOR Holdings Inc. | ' | 0 | ' |
Other comprehensive income | ' | 0 | ' |
Additional Paid-In Capital [Member] | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' |
Total equity | 1,479,942 | 1,479,942 | 1,394,621 |
Employee Stock Purchase Plan | ' | 0 | ' |
Exercise of stock options | ' | 4,915 | ' |
Director stock awards | ' | -103 | ' |
Restricted stock | ' | 168 | ' |
Purchases of treasury shares | ' | 0 | ' |
Amortization of share awards | ' | -6,484 | ' |
Stock Issued During Period, Value, Restricted Stock Award, Forfeitures | ' | -83 | ' |
Noncontrolling Interest, Decrease from Redemptions or Purchase of Interests | ' | -1,242 | ' |
Noncontrolling Interest, Increase from Subsidiary Equity Issuance | ' | 74,810 | ' |
Dividends paid to noncontrolling interests | ' | 0 | ' |
Comprehensive income: | ' | ' | ' |
Net Income attributable to SEACOR Holdings Inc. | ' | 0 | ' |
Other comprehensive income | ' | 0 | ' |
Retained Earnings [Member] | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' |
Total equity | 1,127,846 | 1,127,846 | 1,095,270 |
Employee Stock Purchase Plan | ' | 0 | ' |
Exercise of stock options | ' | 0 | ' |
Director stock awards | ' | 0 | ' |
Restricted stock | ' | 0 | ' |
Purchases of treasury shares | ' | 0 | ' |
Amortization of share awards | ' | 0 | ' |
Stock Issued During Period, Value, Restricted Stock Award, Forfeitures | ' | 0 | ' |
Noncontrolling Interest, Decrease from Redemptions or Purchase of Interests | ' | 0 | ' |
Noncontrolling Interest, Increase from Subsidiary Equity Issuance | ' | 0 | ' |
Dividends paid to noncontrolling interests | ' | 0 | ' |
Comprehensive income: | ' | ' | ' |
Net Income attributable to SEACOR Holdings Inc. | ' | -32,576 | ' |
Other comprehensive income | ' | 0 | ' |
Shares Held In Treasury [Member] | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' |
Total equity | -1,126,322 | -1,126,322 | -1,088,219 |
Employee Stock Purchase Plan | ' | 1,201 | ' |
Exercise of stock options | ' | 0 | ' |
Director stock awards | ' | 0 | ' |
Restricted stock | ' | 0 | ' |
Purchases of treasury shares | ' | -39,221 | ' |
Amortization of share awards | ' | 0 | ' |
Stock Issued During Period, Value, Restricted Stock Award, Forfeitures | ' | 83 | ' |
Noncontrolling Interest, Decrease from Redemptions or Purchase of Interests | ' | 0 | ' |
Noncontrolling Interest, Increase from Subsidiary Equity Issuance | ' | 0 | ' |
Dividends paid to noncontrolling interests | ' | 0 | ' |
Comprehensive income: | ' | ' | ' |
Net Income attributable to SEACOR Holdings Inc. | ' | 0 | ' |
Other comprehensive income | ' | 0 | ' |
Accumulated Other Comprehensive Income (Loss) [Member] | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' |
Total equity | 225 | 225 | -1,192 |
Employee Stock Purchase Plan | ' | 0 | ' |
Exercise of stock options | ' | 0 | ' |
Director stock awards | ' | 0 | ' |
Restricted stock | ' | 0 | ' |
Purchases of treasury shares | ' | 0 | ' |
Amortization of share awards | ' | 0 | ' |
Stock Issued During Period, Value, Restricted Stock Award, Forfeitures | ' | 0 | ' |
Noncontrolling Interest, Decrease from Redemptions or Purchase of Interests | ' | 0 | ' |
Noncontrolling Interest, Increase from Subsidiary Equity Issuance | ' | 0 | ' |
Dividends paid to noncontrolling interests | ' | 0 | ' |
Comprehensive income: | ' | ' | ' |
Net Income attributable to SEACOR Holdings Inc. | ' | 0 | ' |
Other comprehensive income | ' | -1,417 | ' |
Non-Controlling Interests In Subsidiaries [Member] | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' |
Total equity | 101,699 | 101,699 | 24,576 |
Employee Stock Purchase Plan | ' | 0 | ' |
Exercise of stock options | ' | 0 | ' |
Director stock awards | ' | 0 | ' |
Restricted stock | ' | 0 | ' |
Purchases of treasury shares | ' | 0 | ' |
Amortization of share awards | ' | 0 | ' |
Stock Issued During Period, Value, Restricted Stock Award, Forfeitures | ' | 0 | ' |
Noncontrolling Interest, Decrease from Redemptions or Purchase of Interests | ' | -1,868 | ' |
Noncontrolling Interest, Increase from Subsidiary Equity Issuance | ' | 70,880 | ' |
Dividends paid to noncontrolling interests | ' | 792 | ' |
Comprehensive income: | ' | ' | ' |
Net Income (Loss) Attributable to Noncontrolling Interest | ' | -8,664 | ' |
Other comprehensive income | ' | ($239) | ' |
Condensed_Consolidated_Stateme3
Condensed Consolidated Statements Of Cash Flows (USD $) | 6 Months Ended | |
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 |
Statement of Cash Flows [Abstract] | ' | ' |
Net Cash Provided by Operating Activities of Continuing Operations | $107,866 | $78,235 |
Cash Flows from Investing Activities of Continuing Operations: | ' | ' |
Purchases of property and equipment | 273,669 | 87,931 |
Proceeds from disposition of property and equipment | 78,039 | 125,432 |
Investments in and advances to 50% or less owned companies | 21,464 | 26,822 |
Return of investments and advances from 50% or less owned companies | 10,013 | 8,315 |
Principal payments on third party leases and notes receivable, net | 6,377 | -6,240 |
Net (increase) decrease in restricted cash | 2,171 | -11,509 |
Net (increase) decrease in construction reserve funds and title XI reserve funds | 63,117 | -45,254 |
Business acquisitions, net of cash acquired | 0 | 10,540 |
Net cash used in investing activities of continuing operations | -278,746 | 71,457 |
Cash Flows from Financing Activities of Continuing Operations: | ' | ' |
Repayments of Debt and Capital Lease Obligations | 7,226 | 10,027 |
Net borrowings (repayments) on inventory financing arrangements | 6,294 | -2,365 |
Proceeds from issuance of long term debt, net of offering costs | 6 | 6 |
Common stock acquired for treasury | 39,221 | 0 |
Cash Received (Paid) For Share Settlements from Spinoff Transactions | 0 | -357 |
Proceeds and tax benefits from share award plans | 6,288 | 8,779 |
Issuance of noncontrolling interests | 145,116 | 40 |
Purchase of subsidiary shares from noncontrolling interests | 2,090 | 0 |
Cash received from (dividends paid to) noncontrolling interests, net | -792 | -3,276 |
Net cash provided by (used in) financing activities of continuing operations | 95,787 | -2,470 |
Effect of Exchange Rate Changes on Cash and Cash Equivalents | 1,073 | -2,565 |
Net Increase (Decrease) in Cash and Cash Equivalents from Continuing Operations | -74,020 | 144,657 |
Cash Flows from Discontinued Operations: | ' | ' |
Operating Activities | 0 | 24,298 |
Investing Activities | 0 | -8,502 |
Financing Activities | 0 | -14,017 |
Effects of Exchange Rate Changes on Cash and Cash Equivalents | 0 | 143 |
Net Increase in Cash and Cash Equivalents from Discontinued Operations | 0 | 1,922 |
Net Increase (Decrease) in Cash and Cash Equivalents | -74,020 | 146,579 |
Cash and Cash Equivalents, Beginning of Period | 527,435 | 248,204 |
Cash and Cash Equivalents, End of Period | $453,415 | ' |
Basis_of_Presentation_and_Acco
Basis of Presentation and Accounting Policy | 6 Months Ended | ||||||||||||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||||||||||||
Nature Of Operations And Accounting Policies [Abstract] | ' | ||||||||||||||||||||||||||||
Basis of Presentation and Accounting Policy | ' | ||||||||||||||||||||||||||||
BASIS OF PRESENTATION AND ACCOUNTING POLICY | |||||||||||||||||||||||||||||
The condensed consolidated financial information for the three and six months ended June 30, 2014 and 2013 has been prepared by the Company and has not been audited by its independent registered public accounting firm. The condensed consolidated financial statements include the accounts of SEACOR Holdings Inc. and its consolidated subsidiaries. In the opinion of management, all adjustments (consisting of normal recurring adjustments) have been made to fairly present the Company’s financial position as of June 30, 2014, its results of operations for the three and six months ended June 30, 2014 and 2013, its comprehensive income (loss) for the three and six months ended June 30, 2014 and 2013, its changes in equity for the six months ended June 30, 2014, and its cash flows for the six months ended June 30, 2014 and 2013. Results of operations for the interim periods presented are not necessarily indicative of operating results for the full year or any future periods. | |||||||||||||||||||||||||||||
Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles in the United States have been condensed or omitted. These condensed consolidated financial statements should be read in conjunction with the financial statements and related notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2013. | |||||||||||||||||||||||||||||
Unless the context otherwise indicates, any reference in this Quarterly Report on Form 10-Q to the “Company” refers to SEACOR Holdings Inc. and its consolidated subsidiaries and any reference in this Quarterly Report on Form 10-Q to “SEACOR” refers to SEACOR Holdings Inc. Capitalized terms used and not specifically defined herein have the same meaning as such defined terms used in the Company's Annual report on Form 10-K for the year ended December 31, 2013. | |||||||||||||||||||||||||||||
Discontinued Operations (see Note 15). The Company reports disposed businesses as discontinued operations when it has no continuing interest in the business. Discontinued operations includes the historical financial position, results of operations and cash flows of the operations previously reported as discontinued in the Company's Annual Report on Form 10-K for the year ended December 31, 2013. | |||||||||||||||||||||||||||||
Revenue Recognition. The Company recognizes revenue when it is realized or realizable and earned. Revenue is realized or realizable and earned when persuasive evidence of an arrangement exists, delivery has occurred or services have been rendered, the price to the buyer is fixed or determinable, and collectability is reasonably assured. Revenue that does not meet these criteria is deferred until the criteria are met. Deferred revenues, included in other current liabilities, for the six months ended June 30, were as follows (in thousands): | |||||||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||||||
Balance at beginning of period | $ | 6,592 | $ | 6,592 | |||||||||||||||||||||||||
Revenues deferred during the period | 202 | — | |||||||||||||||||||||||||||
Balance at end of period | $ | 6,794 | $ | 6,592 | |||||||||||||||||||||||||
As of June 30, 2014 and 2013, the Company's deferred revenues related to the time charter of several offshore support vessels scheduled to be paid through the conveyance of an overriding royalty interest (the "Conveyance") in developmental oil and gas producing properties operated by a customer in the U.S. Gulf of Mexico. Payments under the Conveyance, and the timing of such payments, were contingent upon production and energy sale prices. On August 17, 2012, the customer filed a voluntary petition for chapter 11 bankruptcy, which was converted to chapter 7 in June 2014. The Company is vigorously defending its interest in connection with the bankruptcy filing; however, payments received under the Conveyance subsequent to August 17, 2012 and during the 90 days prior to the filing are subject to bankruptcy court approval. The Company will recognize revenues as approved by the bankruptcy court. All costs and expenses related to these charters were recognized as incurred. | |||||||||||||||||||||||||||||
Accumulated Other Comprehensive Income (Loss). The components of accumulated other comprehensive income (loss) were as follows: | |||||||||||||||||||||||||||||
SEACOR Holdings Inc. Stockholders' Equity | Noncontrolling | ||||||||||||||||||||||||||||
Interests | |||||||||||||||||||||||||||||
Foreign | Derivative | Other | Total | Foreign | Other | Other | |||||||||||||||||||||||
Currency | Losses on | Currency | Comprehensive | ||||||||||||||||||||||||||
Translation | Cash Flow | Translation | Income | ||||||||||||||||||||||||||
Adjustments | Hedges, net | Adjustments | |||||||||||||||||||||||||||
31-Dec-13 | $ | (927 | ) | $ | (257 | ) | $ | (8 | ) | $ | (1,192 | ) | $ | 395 | $ | (5 | ) | ||||||||||||
Other comprehensive income | 1,988 | 192 | — | 2,180 | 239 | — | $ | 2,419 | |||||||||||||||||||||
Income tax expense | (696 | ) | (67 | ) | — | (763 | ) | — | — | (763 | ) | ||||||||||||||||||
Six months ended June 30, 2014 | $ | 365 | $ | (132 | ) | $ | (8 | ) | $ | 225 | $ | 634 | $ | (5 | ) | $ | 1,656 | ||||||||||||
New Accounting Pronouncement. On May 28, 2014, the Financial Accounting Standards Board issued a comprehensive new revenue recognition standard that will supersede nearly all existing revenue recognition guidance under generally accepted accounting principles in the United States. The core principal of the new standard is that a company will recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. The new standard is effective for annual and interim periods beginning after December 15, 2016 and early adoption is prohibited. The Company has not yet determined what impact, if any, the adoption of the new standard will have on its consolidated financial position, results of operations or cash flows. | |||||||||||||||||||||||||||||
Reclassifications. Certain reclassifications of prior period information have been made to conform to the presentation of the current period information. These reclassifications had no effect on net income as previously reported. |
Fair_Value_Measurements
Fair Value Measurements | 6 Months Ended | |||||||||||||||
Jun. 30, 2014 | ||||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||||
Fair Value Measurements | ' | |||||||||||||||
FAIR VALUE MEASUREMENTS | ||||||||||||||||
The fair value of an asset or liability is the price that would be received to sell an asset or transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The Company utilizes a fair value hierarchy that maximizes the use of observable inputs and minimizes the use of unobservable inputs when measuring fair value and defines three levels of inputs that may be used to measure fair value. Level 1 inputs are quoted prices in active markets for identical assets or liabilities. Level 2 inputs are observable inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly, including quoted prices for similar assets or liabilities in active markets, quoted prices in markets that are not active, inputs other than quoted prices that are observable for the asset or liability, or inputs derived from observable market data. Level 3 inputs are unobservable inputs that are supported by little or no market activity and are significant to the fair value of the assets or liabilities. | ||||||||||||||||
The Company’s financial assets and liabilities as of June 30, 2014 that are measured at fair value on a recurring basis were as follows (in thousands): | ||||||||||||||||
Level 1 | Level 2 | Level 3 | ||||||||||||||
ASSETS | ||||||||||||||||
Marketable securities(1) | $ | 33,275 | $ | — | $ | — | ||||||||||
Derivative instruments (included in other receivables) | 2,012 | 4,442 | — | |||||||||||||
Construction reserve funds and Title XI reserve funds | 324,856 | — | — | |||||||||||||
LIABILITIES | ||||||||||||||||
Short sale of marketable securities (included in other current liabilities) | 10,061 | — | — | |||||||||||||
Derivative instruments (included in other current liabilities) | 2,043 | 1,016 | — | |||||||||||||
______________________ | ||||||||||||||||
-1 | Marketable security gains, net include unrealized gains of $0.7 million and $6.5 million for the three months ended June 30, 2014 and 2013, respectively, related to marketable security positions held by the Company as of June 30, 2014. Marketable security gains, net include unrealized gains of $5.7 million and $10.5 million for the six months ended June 30, 2014 and 2013, respectively, related to marketable security positions held by the Company as of June 30, 2014. | |||||||||||||||
The estimated fair values of the Company’s other financial assets and liabilities as of June 30, 2014 were as follows (in thousands): | ||||||||||||||||
Estimated Fair Value | ||||||||||||||||
Carrying | Level 1 | Level 2 | Level 3 | |||||||||||||
Amount | ||||||||||||||||
ASSETS | ||||||||||||||||
Cash, cash equivalents and restricted cash | $ | 467,761 | $ | 467,761 | $ | — | $ | — | ||||||||
Investments, at cost, in 50% or less owned companies (included in other | 9,331 | see below | ||||||||||||||
assets) | ||||||||||||||||
Notes receivable from third parties (included in other receivables and other assets) | 20,228 | see below | ||||||||||||||
LIABILITIES | ||||||||||||||||
Long-term debt, including current portion(1) | 873,860 | — | 1,055,228 | — | ||||||||||||
______________________ | ||||||||||||||||
-1 | The estimated fair value includes the conversion options on the Company's 2.5% and 3.0% Convertible Senior Notes. | |||||||||||||||
The carrying value of cash, cash equivalents and restricted cash approximates fair value. The fair value of the Company’s long-term debt was estimated based upon quoted market prices or by using discounted cash flow analyses based on estimated current rates for similar types of arrangements. It was not practicable to estimate the fair value of the Company’s investments, at cost, in 50% or less owned companies because of the lack of quoted market prices and the inability to estimate fair value without incurring excessive costs. It was not practicable to estimate the fair value of the Company’s notes receivable from third parties as the overall returns are uncertain due to certain provisions for additional payments contingent upon future events. Considerable judgment was required in developing certain of the estimates of fair value and, accordingly, the estimates presented herein are not necessarily indicative of the amounts that the Company could realize in a current market exchange. | ||||||||||||||||
The Company’s non-financial assets and liabilities that were measured at fair value during the six months ended June 30, 2014 were as follows (in thousands): | ||||||||||||||||
Level 1 | Level 2 | Level 3 | ||||||||||||||
ASSETS | ||||||||||||||||
Long-lived assets held for sale(1) | $ | — | $ | 11,700 | $ | — | ||||||||||
______________________ | ||||||||||||||||
-1 | During the six months ended June 30, 2014, the Company recognized impairment charges of $3.9 million related to two aircraft following the adjustment of their carrying value to fair value based on the expected sales price of each. |
Derivative_Instruments_And_Hed
Derivative Instruments And Hedging Strategies | 6 Months Ended | |||||||
Jun. 30, 2014 | ||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' | |||||||
Derivative Instruments And Hedging Strategies | ' | |||||||
DERIVATIVE INSTRUMENTS AND HEDGING STRATEGIES | ||||||||
Derivative instruments are classified as either assets or liabilities based on their individual fair values. Derivative assets and liabilities are included in other receivables and other current liabilities, respectively, in the accompanying condensed consolidated balance sheets. The fair values of the Company’s derivative instruments as of June 30, 2014 were as follows (in thousands): | ||||||||
Derivative | Derivative | |||||||
Asset | Liability | |||||||
Forward currency exchange, option and future contracts | $ | 92 | $ | 60 | ||||
Interest rate swap agreements | — | 998 | ||||||
Commodity swap, option and future contracts: | ||||||||
Exchange traded | 2,012 | 1,983 | ||||||
Non-exchange traded | 4,350 | 18 | ||||||
$ | 6,454 | $ | 3,059 | |||||
Cash Flow Hedges. As of June 30, 2014, the Company had no interest rate swap agreements designated as cash flow hedges. As of June 30, 2014, one of the Company’s Offshore Marine Services 50% or less owned companies had an interest rate swap agreement maturing in 2015 that has been designated as a cash flow hedge. This instrument calls for this company to pay a fixed interest rate of 1.48% on the amortized notional value of $16.1 million and receive a variable interest rate based on LIBOR on the amortized notional value. Subsequent to June 30, 2014, this interest rate swap was dedesignated. As of June 30, 2014, one of the Company’s Inland River Services 50% or less owned companies had two interest rate swap agreements with maturities in 2015 that have been designated as cash flow hedges. These instruments call for this company to pay fixed rates of interest ranging from 1.53% to 1.62% on the aggregate amortized notional value of $18.8 million and receive a variable interest rate based on LIBOR on the aggregate amortized notional value. Additionally, as of June 30, 2014, one of the Company’s Shipping Services 50% or less owned companies had an interest rate swap agreement maturing in 2017 that has been designated as a cash flow hedge. The instrument calls for this company to pay a fixed interest rate of 2.79% on the amortized notional value of $36.2 million and received a variable interest rate based on LIBOR on the amortized notional value. By entering into these interest rate swap agreements, the Company's 50% or less owned companies have converted the variable LIBOR component of certain of their outstanding borrowings to a fixed interest rate. | ||||||||
Other Derivative Instruments. The Company recognized gains (losses) on derivative instruments not designated as hedging instruments for the six months ended June 30 as follows (in thousands): | ||||||||
2014 | 2013 | |||||||
Options on equities and equity indices | $ | 22 | $ | (3,012 | ) | |||
Forward currency exchange, option and future contracts | 187 | (592 | ) | |||||
Interest rate swap agreements | (135 | ) | 237 | |||||
Commodity swap, option and future contracts: | ||||||||
Exchange traded | 950 | (821 | ) | |||||
Non-exchange traded | (1,167 | ) | 1,256 | |||||
$ | (143 | ) | $ | (2,932 | ) | |||
The Company holds positions in publicly traded equity options that convey the right or obligation to engage in a future transaction on the underlying equity security or index. The Company’s investment in equity options primarily includes positions in energy, marine, transportation and other related businesses. These contracts are typically entered into to mitigate the risk of changes in the market value of marketable security positions that the Company is either about to acquire, has acquired or is about to dispose of. | ||||||||
The Company enters and settles forward currency exchange, option and future contracts with respect to various foreign currencies. As of June 30, 2014, the outstanding forward currency exchange contracts translated into a net purchase of foreign currencies with an aggregate U.S. dollar equivalent of $4.7 million. These contracts enable the Company to buy currencies in the future at fixed exchange rates, which could offset possible consequences of changes in currency exchange rates with respect to the Company’s business conducted outside of the United States. The Company generally does not enter into contracts with forward settlement dates beyond twelve to eighteen months. | ||||||||
The Company has entered into various interest rate swap agreements with maturities ranging from 2014 through 2018 that call for the Company to pay fixed interest rates ranging from 3.00% to 3.05% on an aggregate amortized notional value of $34.5 million and receive a variable interest rate based on LIBOR or Euribor on these aggregate amortized notional values. As of June 30, 2014, one of the Company’s Offshore Marine Services 50% or less owned companies has an interest rate swap agreement maturing in 2018 that calls for this company to pay a fixed interest rate of 1.30% on the amortized notional value of $98.3 million and receive a variable interest rate based on LIBOR on the amortized notional value. Additionally, another one of the Company's Offshore Marine Services 50% or less owned companies has two interest rate swap agreements maturing in 2020 that call for this company to pay fixed interest rates ranging from 1.89% to 2.27% on the aggregate amortized notional value of $24.9 million and receive a variable interest rate based on LIBOR on the amortized notional value. As of June 30, 2014, one of the Company's Shipping Services 50% or less owned companies has six interest rate swap agreements with maturities ranging from 2018 to 2020 that call for this company to pay fixed rates of interest ranging from 2.96% to 5.40% on the aggregate amortized notional value of $126.0 million and receive a variable interest rate based on LIBOR on the aggregate amortized notional value. The general purpose of these interest rate swap agreements is to provide protection against increases in interest rates, which might lead to higher interest costs for the Company or its 50% or less owned companies. | ||||||||
The Company enters and settles positions in various exchange and non-exchange traded commodity swap, option and future contracts. ICP enters into exchange traded positions (primarily corn) to protect its raw material and finished goods inventory balance from market changes. In the Company’s agricultural commodity trading and logistics business, fixed price future purchase and sale contracts for sugar are included in the Company’s non-exchange traded derivative positions. The Company enters into exchange traded positions to protect these purchase and sale contracts as well as its inventory balances from market changes. As of June 30, 2014, the net market exposure to corn and sugar under these contracts was not material. The Company also enters into exchange traded positions (primarily natural gas, heating oil, crude oil, gasoline, corn and sugar) to provide value to the Company should there be a sustained decline in the price of commodities that could lead to a reduction in the market values and cash flows of the Company’s Offshore Marine Services, Inland River Services and Shipping Services businesses. As of June 30, 2014, none of these types of positions were outstanding. |
Business_Acquisitions
Business Acquisitions | 6 Months Ended |
Jun. 30, 2014 | |
Business Combinations [Abstract] | ' |
Business Acquisitions | ' |
BUSINESS ACQUISITIONS | |
C-Lift Acquisition. On June 6, 2013, the Company acquired a controlling interest in C-Lift through the acquisition of its partner's 50% equity interest for $13.3 million in cash. C-Lift owned and operated two liftboats in the U.S. Gulf of Mexico. The Company performed a fair value analysis and the purchase price was allocated to the acquired assets and liabilities based on their fair values resulting in no goodwill being recorded. The preliminary fair value analysis was finalized in March 2014. | |
Witt O'Brien's. Subsequent to June 30, 2014, the Company acquired a controlling interest in Witt O'Brien's, a global leader in preparedness, crisis management, and disaster response and recovery, through the acquisition of its partner's 45.8% equity interest for $35.4 million (see Note 6). |
Equipment_Acquisitions_Disposi
Equipment Acquisitions, Dispositions and Depreciation and Impairment Policies | 6 Months Ended | |||||||
Jun. 30, 2014 | ||||||||
Equipment Acquisitions, Dispositions And Depreciation And Impairment Policies [Abstract] | ' | |||||||
Equipment Acquisitions, Dispositions and Depreciation and Impairment Policies | ' | |||||||
EQUIPMENT ACQUISITIONS, DISPOSITIONS AND DEPRECIATION AND IMPAIRMENT POLICIES | ||||||||
During the six months ended June 30, 2014, capital expenditures were $273.7 million, including $148.3 million of progress payments toward the construction of three U.S.-flag product tankers. Equipment deliveries during the period included two crew boats, one supply boat, one wind farm utility vessel, 65 inland river dry-cargo barges and one inland river towboat. | ||||||||
During the six months ended June 30, 2014, the Company sold five crew boats, three supply boats, one wind farm utility vessel, one U.S.-flag product tanker, which was leased back, one foreign-flag short-sea container/RORO vessel and other property and equipment for net proceeds of $100.9 million ($75.3 million in cash and $25.6 million in seller financing) and gains of $50.6 million, of which $10.2 million were recognized currently and $40.4 million were deferred. In addition, the Company recognized previously deferred gains of $2.7 million. The Company also received deposits of $2.7 million related to future offshore support vessel sales. | ||||||||
The Company has sold certain equipment to its 50% or less owned companies, entered into vessel sale-leaseback transactions with finance companies, and provided seller financing on sales of its equipment to third parties and its 50% or less owned companies. A portion of the gains realized from these transactions were deferred and recorded in deferred gains and other liabilities in the accompanying condensed consolidated balance sheets. Deferred gain activity related to these transactions for the six months ended June 30 was as follows (in thousands): | ||||||||
2014 | 2013 | |||||||
Balance at beginning of period | $ | 124,763 | $ | 111,514 | ||||
Adjustments to deferred gains arising from asset sales | 40,445 | 2,289 | ||||||
Amortization of deferred gains included in operating expenses as a reduction to rental expense | (7,155 | ) | (5,192 | ) | ||||
Amortization of deferred gains included in gains on asset dispositions and impairments, net | (2,656 | ) | (1,431 | ) | ||||
Balance at end of period | $ | 155,397 | $ | 107,180 | ||||
Equipment, stated at cost, is depreciated using the straight-line method over the estimated useful life of the asset to an estimated salvage value. With respect to each class of asset, the estimated useful life is based upon a newly built asset being placed into service and represents the point at which it is typically not justifiable for the Company to continue to operate the asset in the same or similar manner. From time to time, the Company may acquire older assets that have already exceeded the Company’s useful life policy, in which case the Company depreciates such assets based on its best estimate of remaining useful life, typically the next survey or certification date. | ||||||||
As of June 30, 2014, the estimated useful life (in years) of each of the Company’s major categories of new equipment was as follows: | ||||||||
Offshore support vessels (excluding wind farm utility) | 20 | |||||||
Wind farm utility vessels | 10 | |||||||
Inland river dry-cargo and deck barges | 20 | |||||||
Inland river liquid tank barges | 25 | |||||||
Inland river towboats | 25 | |||||||
U.S.-flag product tankers | 25 | |||||||
Short-sea Container/RORO(1) vessels | 20 | |||||||
Harbor tugs | 25 | |||||||
Ocean liquid tank barges | 25 | |||||||
Terminal and manufacturing facilities | 20 | |||||||
______________________ | ||||||||
-1 | Roll on/Roll off ("RORO"). | |||||||
The Company performs an impairment analysis of long-lived assets used in operations, including intangible assets, when indicators of impairment are present. If the carrying value of the assets is not recoverable, as determined by the estimated undiscounted cash flows, the carrying value of the assets is reduced to fair value. Generally, fair value is determined using valuation techniques, such as expected discounted cash flows or appraisals, as appropriate. During the six months ended June 30, 2014, the Company recognized impairment charges of $3.9 million related to two aircraft. |
Investments_At_Equity_And_Adva
Investments, At Equity, And Advances To 50% Or Less Owned Companies | 6 Months Ended |
Jun. 30, 2014 | |
Equity Method Investment, Summarized Financial Information [Abstract] | ' |
Investments, At Equity, And Advances To 50% Or Less Owned Companies | ' |
INVESTMENTS, AT EQUITY, AND ADVANCES TO 50% OR LESS OWNED COMPANIES | |
Mexmar. Mexmar operates offshore support vessels in Mexico. During the six months ended June 30, 2014, Mexmar purchased two offshore support vessels from the Company for $32.0 million ($6.4 million in cash and $25.6 million in seller financing). During the six months ended June 30, 2014, Mexmar repaid $2.6 million of the seller financing. | |
OSV Partners. OSV Partners was formed to own and operate six offshore support vessels. During the six months ended June 30, 2014, the Company contributed additional capital of $1.6 million to fund certain capital acquisitions. During the six months ended June 30, 2014, OSV Partners purchased one offshore support vessel from the Company for $13.5 million in cash. | |
SCFCo Holdings. SCFCo Holdings was established to operate towboats and dry-cargo barges on the Parana-Paraguay Rivers and a terminal facility at Port Ibicuy, Argentina. During the six months ended June 30, 2014, the Company and its partner each contributed additional capital of $12.2 million. As of June 30, 2014, the Company had outstanding loans to SCFCo Holdings of $3.7 million. | |
SeaJon. SeaJon owns an articulated tug-barge operating in the Great Lakes trade. During the six months ended June 30, 2014, the Company and its partner each contributed additional capital of $1.3 million to fund certain capital acquisitions. | |
Avion. Avion is a distributor of aircraft and aircraft related parts. During the six months ended June 30, 2014, Avion repaid $4.0 million of outstanding notes to the Company. | |
Witt-O'Brien's. Witt-O'Brien's is a global leader in preparedness, crisis management, and disaster response and recovery. During the six months ended June 30, 2014, the Company received distributions of $0.8 million from Witt-O'Brien's. Subsequent to June 30, 2014, the Company acquired a controlling interest in Witt-O'Brien's through the acquisition of its partner's 45.8% equity interest for $35.4 million (see Note 4). | |
Cleancor. On August 20, 2013, CLEANCOR Energy Solutions LLC ("Cleancor") was established to be a full service solution provider delivering clean fuel to end users. During the six months ended June 30, 2014, the Company contributed capital of $4.8 million to Cleancor to fund its start-up operations and provide capital for future investments. | |
Other. During the six months ended June 30, 2014, the Company received a capital distribution of $2.1 million from one of Inland River Services' 50% or less owned companies, loaned $0.7 million to one of Offshore Marine Services' 50% or less owned companies and contributed capital of $0.2 million and loaned $0.3 million to certain of its industrial aviation businesses in Asia. | |
Guarantees. The Company has guaranteed the payment of amounts owed by one of its 50% or less owned companies under a vessel charter and has guaranteed amounts owed under banking facilities by certain of its 50% or less owned companies. As of June 30, 2014, the total amount guaranteed by the Company under these arrangements was $15.3 million. In addition, as of June 30, 2014, the Company had uncalled capital commitments to two of its 50% or less owned companies for a total of $2.4 million. Subsequent to June 30, 2014, the Company's guarantees increased by $19.0 million after certain of the Company's 50% or less owned companies obtained bank financing. |
Commitments_And_Contingencies
Commitments And Contingencies | 6 Months Ended |
Jun. 30, 2014 | |
Commitments and Contingencies Disclosure [Abstract] | ' |
Commitments And Contingencies | ' |
COMMITMENTS AND CONTINGENCIES | |
As of June 30, 2014, the Company's unfunded capital commitments were $412.8 million and included: $86.5 million for 13 offshore support vessels; $1.1 million for two inland river tank barges; $4.6 million for four inland river towboats; $230.2 million for three U.S.-flag product tankers; $78.4 million for one U.S.-flag articulated tug-barge; and $12.0 million for other equipment and improvements. These commitments are payable as follows: $99.7 million is payable during the remainder of 2014; $303.8 million is payable during 2015-2016; and $9.3 million is payable during 2017. | |
On July 20, 2010, two individuals purporting to represent a class commenced a civil action in the Civil District Court for the Parish of Orleans in the State of Louisiana, John Wunstell, Jr. and Kelly Blanchard v. BP, et al., No. 2010-7437 (Division K) (the “Wunstell Action”), in which they assert, among other theories, that Mr. Wunstell suffered injuries as a result of his exposure to certain noxious fumes and chemicals in connection with the provision of remediation, containment and response services by ORM, a subsidiary of the Company prior to the ORM Transaction, during the Deepwater Horizon oil spill response and clean-up in the U.S Gulf of Mexico. The action now is part of the overall multi-district litigation, In re Oil Spill by the Oil Rig "Deepwater Horizon", MDL No. 2179 filed in the U.S. District Court for the Eastern District of Louisiana ("MDL"). The complaint also seeks to establish a “class-wide court-supervised medical monitoring program” for all individuals “participating in BP's Deepwater Horizon Vessels of Opportunity Program and/or Horizon Response Program” who allegedly experienced injuries similar to those of Mr. Wunstell. The Company believes this lawsuit has no merit and will continue to vigorously defend the action and pursuant to contractual agreements with the responsible party, the responsible party has agreed, subject to certain potential limitations, to indemnify and defend ORM in connection with the Wunstell Action and claims asserted in the MDL, discussed further below. Although the Company is unable to estimate the potential exposure, if any, resulting from this matter, the Company does not expect it will have a material effect on the Company's consolidated financial position, results of operations or cash flows. | |
On December 15, 2010, ORM and NRC, subsidiaries of the Company prior to the ORM Transaction and SES Business Transaction, respectively, were named as defendants in one of the several consolidated “master complaints” that have been filed in the overall MDL. The master complaint naming ORM and NRC asserts various claims on behalf of a putative class against multiple defendants concerning the clean-up activities generally, and the use of dispersants specifically. By court order, the Wunstell Action has been stayed as a result of the filing of the referenced master complaint. The Company believes that the claims asserted against ORM and NRC in the master complaint have no merit and on February 28, 2011, ORM and NRC moved to dismiss all claims against them in the master complaint on legal grounds. On September 30, 2011, the Court granted in part and denied in part the motion to dismiss that ORM and NRC had filed (an amended decision was issued on October 4, 2011 that corrected several grammatical errors and non-substantive oversights in the original order). Although the Court refused to dismiss the referenced master complaint in its entirety at that time, the Court did recognize the validity of the “derivative immunity” and “implied preemption” arguments that ORM and NRC advanced and directed ORM and NRC to (i) conduct limited discovery to develop evidence to support those arguments and (ii) then re-assert the arguments. The Court did, however, dismiss all state-law claims and certain other claims that had been asserted in the referenced master complaint, and dismissed the claims of all plaintiffs that have failed to allege a legally-sufficient injury. A schedule for limited discovery and motion practice was established by the Court and, in accordance with that schedule, ORM and NRC filed for summary judgment re-asserting their derivative immunity and implied preemption arguments on May 18, 2012. Those motions were argued on July 13, 2012 and are still pending decision. In addition to the indemnity provided to ORM, pursuant to contractual agreements with the responsible party, the responsible party has agreed, subject to certain potential limitations, to indemnify and defend ORM and NRC in connection with these claims in the MDL. Although the Company is unable to estimate the potential exposure, if any, resulting from this matter, the Company does not expect it will have a material effect on the Company's consolidated financial position, results of operations or cash flows. | |
Subsequent to the filing of the referenced master complaint, ten additional individual civil actions have been filed in or removed to the U.S. District Court for the Eastern District of Louisiana concerning the clean-up activities generally, which name the Company, ORM and/or NRC as defendants or third-party defendants and are part of the overall MDL. By court order, all of these additional individuals' cases have been stayed until further notice. On April 8, 2011, ORM was named as a defendant in Johnson Bros. Corporation of Louisiana v. BP, PLC, et al., No. 2:11-CV-00781 (E.D. La.), which is a suit by an individual business seeking damages allegedly caused by a delay on a construction project alleged to have resulted from the clean-up operations. On April 13, 2011, the Company was named as a defendant in Mason v. Seacor Marine, LLC, No. 2:11-CV-00826 (E.D. La.), an action in which plaintiff, a former employee, alleges sustaining personal injuries in connection with responding to the explosion and fire, but also in the months thereafter in connection with the clean-up of oil and dispersants while a member of the crew of the M/V Seacor Vanguard. Although the case is subject to the MDL Court’s stay of individual proceedings, the employee moved to sever his case from the MDL on July 16, 2012, which the Court denied on March 5, 2013. The employee filed a motion asking the Court to reconsider, which was denied on May 3, 2013, and the employee filed a Notice of Appeal to the U.S. Court of Appeals for the Fifth Circuit (“Fifth Circuit”) on May 22, 2013. On July 24, 2013, the Company filed a motion to dismiss for lack of appellate jurisdiction, which was granted on August 16, 2013. The same company employee has also brought a claim in the M/V Seacor Vanguard vessel’s limitation action in the MDL which relates to any actions that may have been taken by vessels owned by the Company to extinguish the fire. On April 15, 2011, ORM and NRC were named as defendants in James and Krista Pearson v. BP Exploration & Production, Inc. ("BP Exploration"), et al., No. 2:11-CV-00863 (E.D. La.), which is a suit by a husband and wife, who allegedly participated in the clean-up effort and are seeking damages for personal injury, property damage to their boat, and amounts allegedly due under contract. On April 15, 2011, ORM and NRC were named as defendants in Thomas Edward Black v. BP Exploration, et al., No. 2:11-CV-00867 (E.D. La.), which is a suit by an individual who is seeking damages for lost income because he allegedly could not find work in the fishing industry after the oil spill. On April 20, 2011, a complaint was filed in Darnell Alexander, et al. v. BP, PLC, et al., No. 2:11-CV-00951 (E.D. La.) on behalf of 117 individual plaintiffs that seek to adopt the allegations made in the referenced master complaint against ORM and NRC (and the other defendants). Plaintiffs in this matter have since been granted leave to amend their complaint to include 410 additional individual plaintiffs. On October 3, 2012, ORM and NRC were served with a Rule 14(c) Third-Party Complaint by Jambon Supplier II, L.L.C. and Jambon Marine Holdings L.L.C. in their Limitation of Liability action, In the Matter of Jambon Supplier II, L.L.C., et al., No. 2:12-CV-00426 (E.D. La.). This Third-Party Complaint alleges that if claimant David Dinwiddie, who served as a clean-up crewmember aboard the M/V JAMBON SUPPLIER II vessel during the clean-up efforts, was injured as a result of his exposure to dispersants and chemicals during the course and scope of his employment, then said injuries were caused by the third-party defendants. On November 25, 2012, ORM was named as a defendant in Victoria Sanchez v. American Pollution Control Corp. et al., No. 2:12-CV-00164 (E.D. La.), a maritime suit filed by an individual who allegedly participated in the clean-up effort and sustained personal injuries during the course of such employment. On December 17, 2012, the Court unsealed a False Claims Act lawsuit naming ORM as a defendant, Dillon v. BP, PLC et al., No. 2:12-CV-00987 (E.D. La.)., which is a suit by an individual seeking damages and penalties arising from alleged false reports and claims made to the federal government with respect to the amount of oil burned and dispersed during the clean-up. The federal government has declined to intervene in this suit. On April 8, 2013, the Company, ORM, and NRC were named as defendants in William and Dianna Fitzgerald v. BP Exploration et al., No. 2:13-CV-00650 (E.D. La.), which is a suit by a husband and wife whose son allegedly participated in the clean-up effort and became ill as a result of his exposure to oil and dispersants. Finally, on April 17, 2013, ORM was named as a defendant in Danos et al. v. BP America Production Co. et al., No. 2:13-CV-03747 (removed to E.D. La.), which is a suit by eight individuals seeking damages for dispersant exposure either as a result of their work during clean-up operations or as a result of their residence in the Gulf. The Company is unable to estimate the potential exposure, if any, resulting from these matters but believes they are without merit and does not expect that they will have a material effect on its consolidated financial position, results of operations or cash flows. | |
On February 18, 2011, Triton Asset Leasing GmbH, Transocean Holdings LLC, Transocean Offshore Deepwater Drilling Inc., and Transocean Deepwater Inc. (collectively “Transocean”) named ORM and NRC as third-party defendants in a Rule 14(c) Third-Party Complaint in Transocean's own Limitation of Liability Act action, which is part of the overall MDL, tendering to ORM and NRC the claims in the referenced master complaint that have already been asserted against ORM and NRC. Transocean, Cameron International Corporation, Halliburton Energy Services, Inc., and M-I L.L.C. also filed cross-claims against ORM and NRC for contribution and tort indemnity should they be found liable for any damages in Transocean's Limitation of Liability Act action and ORM and NRC have asserted counterclaims against those same parties for identical relief. Weatherford U.S., L.P. and Weatherford International, Inc. (collectively "Weatherford") had also filed cross-claims against ORM and NRC, but moved to voluntarily dismiss these cross-claims without prejudice on February 8, 2013. The Court granted Weatherford's motion that same day. Transcoean's limitation action, and thus the remainder of the aforementioned cross-claims, remains pending. As indicated above, the Company is unable to estimate the potential exposure, if any, resulting from these actions but believes they are without merit and does not expect that these matters will have a material effect on its consolidated financial position, results of operations or cash flows. | |
On November 16, 2012, 668 individuals who served as beach clean-up workers in Escambia County, Florida during the Deepwater Horizon oil spill response commenced a civil action in the Circuit Court for the First Judicial Circuit of Florida, in and for Escambia County, Abney et al. v. Plant Performance Services, LLC et al., No. 2012-CA-002947, in which they allege, among other things, that ORM and other defendants engaged in the contamination of Florida waters and beaches in violation of Florida Statutes Chapter 376 and injured the plaintiffs by exposing them to dispersants during the course and scope of their employment. The case was removed to the U.S. District Court for the Northern District of Florida on January 13, 2013, Abney et al. v. Plant Performance Services, LLC et al., No. 3:13-CV-00024 (N.D. Fla.), and on January 16, 2013, the United States Judicial Panel on Multidistrict Litigation (“JPML”) issued a Conditional Transfer Order (“CTO”) transferring the case to the MDL, subject to any timely-filed notice of objection from the plaintiffs. Upon receipt of a notice of objection from the plaintiffs, a briefing schedule was set by the JPML, and so a stay of proceedings and suspension of deadlines was sought and obtained by the Court in the U.S. District Court for the Northern District of Florida. Following briefing before the JPML, the case was transferred to the U.S. District Court for the Eastern District of Louisiana and consolidated with the MDL on April 2, 2013. On April 22, 2013, a companion case to this matter was filed in the U.S. District Court for the Northern District of Florida, Abood et al. v. Plant Performance Services, LLC et al., No. 3:13-CV-00284 (N.D. Fla.), which alleges identical allegations against the same parties but names an additional 174 plaintiffs, all of whom served as clean-up workers in various Florida counties during the Deepwater Horizon oil spill response. A CTO was issued by the JPML on May 2, 2013, no objection was filed by the plaintiffs, and the case was transferred to the U.S. District Court for the Eastern District of Louisiana and consolidated with the MDL on May 10, 2013. By court order, both of these matters have been stayed until further notice. The Company is unable to estimate the potential exposure, if any, resulting from these matters but believes they are without merit and does not expect that these matters will have a material effect on its consolidated financial position, results of operations or cash flows. | |
Separately, on March 2, 2012, the Court announced that BP Exploration and BP America Production Company ("BP America") (collectively "BP") and the plaintiffs had reached an agreement on the terms of two proposed class action settlements that will resolve, among other things, plaintiffs' economic loss claims and clean-up related claims against BP. The parties filed their proposed settlement agreements on April 18, 2012 along with motions seeking preliminary approval of the settlements. The Court held a hearing on April 25, 2012 to consider those motions and preliminarily approved both settlements on May 2, 2012. A final fairness hearing took place on November 8, 2012. The Court granted final approval to the Economic and Property Damages Class Action Settlement ("E&P Settlement") on December 21, 2012, and granted final approval to the Medical Benefits Class Action Settlement ("Medical Settlement") on January 11, 2013. Both class action settlements were appealed to the Fifth Circuit. The Fifth Circuit affirmed the MDL Court's decision concerning the E&P Settlement on January 10, 2014, and also affirmed the MDL Court's decision concerning the interpretation of the E&P Settlement with respect to business economic loss claims on March 3, 2014. The appeal of the Medical Settlement, on the other hand, was voluntarily dismissed and the Medical Settlement became effective on February 12, 2014. The deadline for bringing a claim to the Medical Benefits Claims Administrator is one year from the effective date of the Settlement. Although neither the Company, ORM, or NRC are parties to the settlement agreements, the Company, ORM, and NRC are listed as released parties on the releases accompanying both settlement agreements. Consequently, barring any further successful appeal, class members who did not file timely requests for exclusion will be barred from pursuing economic loss, property damage, personal injury, medical monitoring, and/or other released claims against the Company, ORM, and NRC. The Company believes these settlements have reduced the Company and ORM's potential exposure, if any, from some of the pending actions described above, and continues to evaluate the settlements' impacts on these cases. | |
On January 29, 2013, HEPACO, LLC ("HEPACO"), served a demand for arbitration upon ORM, in which HEPACO claimed that ORM owed HEPACO an additional fee of $20,291,178.92 under the parties' Management Services Agreement (“MSA”), dated June 1, 2010. HEPACO claimed that the MSA required ORM to pay HEPACO an additional fee of 30% of total charges paid under the MSA ("Surcharge") to compensate HEPACO for U.S. Longshoremen's and Harbor Workers' insurance or Jones Act insurance and related risks attendant to the work when a contract requires labor to be performed over, adjoining and/or in water. On June 23, 2014, ORM and HEPACO entered into an agreement to settle HEPACO's claims in the arbitration without a material impact to the Company's results of operations or cash flows and, on July 2, 2014, the HEPACO arbitration was dismissed with prejudice. | |
ORM is defending against two collective action lawsuits, each asserting failure to pay overtime with respect to individuals who provided service on the Deepwater Horizon oil spill response (the “DPH FLSA Actions”) under the Fair Labor Standards Act (“FLSA”). These cases, Dennis Prejean v. O'Brien's Response Management Inc. (E.D. La., Case No.: 2:12-cv-01045) (the “Prejean Action”) and Himmerite et al. v. O'Brien's Response Management Inc. et al. (E.D. La., Case No.: 2:12-cv-01533) (the “Himmerite Action”), were each brought on behalf of certain individuals who worked on the Deepwater Horizon oil spill response and who were classified as independent contractors. The Prejean and Himmerite Actions were each filed in the United States District Court for the Eastern District of Louisiana and then subsequently consolidated with the overall MDL, in which the Himmerite Action was stayed pursuant to procedures of the MDL. However, both the Prejean and Himmerite Actions were severed from the MDL on September 19, 2013, and referred to a Magistrate Judge for pretrial case management, including issuing a scheduling order, overseeing discovery, and any other preliminary matters. On October 31, 2013, ORM filed an answer in the Himmerite Action. In the Himmerite Action, pursuant to an earlier tolling order entered by the Court, the limitations periods for potential plaintiffs to opt-in to the action has been tolled pending further action by the Court. In the Prejean Action, ORM has answered the complaint and a scheduling order has been issued. On November 6, 2013, the Court conditionally certified a collective class in the Prejean Action. On December 9, 2013 the Court approved a jointly-submitted form notice and authorized the issuance of notice to all members of the conditionally certified class in the Prejean Action. On December 20, 2013, ORM served plaintiffs’ counsel with a list containing information for approximately 330 potential class members in the Prejean Action. The deadline for plaintiffs to file executed consent forms with the Court has expired. As of February 28, 2014 the Court-ordered deadline for potential class members to opt into the class, 142 individuals have opted in. Although the Court has conditionally certified the Prejean class, the Court has not made a final ruling on whether a class exists. The Company intends to vigorously defend its position that a class should not be certified, and intends on filing a motion to decertify the Prejean class. The Court has also not yet ruled on any of the merits of Plaintiffs’ claims. The Company does not expect the potential exposure, if any, resulting from these DPH FLSA Actions will have a material impact on the Company's results of operations or cash flows, but believes the actions are without merit and will continue to vigorously defend against them. | |
In a related action, Baylor Singleton et. al. v. O'Brien's Response Management Inc. et. al. (E.D. La., Case No.: 2:12-cv-01716) (the “Singleton Action”), which was also filed in the United States District Court for the Eastern District of Louisiana and in which plaintiffs alleged claims similar to those alleged in the Prejean and Himmerite Actions, the parties reached a full and final settlement agreement on February 13, 2014 with respect to all of the Plaintiff’s individual claims for an undisclosed amount. On April 11, 2014, the Court approved the parties’ settlement and dismissed the Singleton Action with prejudice in its entirety. The Court also ordered that the tolling order which had been entered in the Singleton Action expired as of April 11, 2014. | |
In the course of the Company's business, it may agree to indemnify the counterparty to an agreement. If the indemnified party makes a successful claim for indemnification, the Company would be required to reimburse that party in accordance with the terms of the indemnification agreement. Indemnification agreements generally are subject to threshold amounts, specified claim periods and other restrictions and limitations. | |
In connection with the SES Business Transaction and the ORM Transaction, the Company remains contingently liable for certain obligations, including potential liabilities relating to work performed in connection with the Deepwater Horizon oil spill response. In the case of the SES Business Transaction, such potential liabilities may not exceed the consideration received by the Company for the SES Business Transaction and in the case of the ORM Transaction are subject to a negotiated cap. The Company currently is indemnified under contractual agreements with BP. | |
During the six months ended June 30, 2014, the Company received net litigation settlement proceeds of $14.7 million from an equipment supplier relating to the May 2008 mechanical malfunction and fire onboard the SEACOR Sherman, an anchor handling towing supply vessel then under construction. Upon settlement of the litigation, the Company recognized a gain of $14.7 million, which is included in other income (expense) in the accompanying condensed consolidated statements of income (loss). | |
In the normal course of its business, the Company becomes involved in various other litigation matters including, among other things, claims by third parties for alleged property damages and personal injuries. Management has used estimates in determining the Company's potential exposure to these matters and has recorded reserves in its financial statements related thereto where appropriate. It is possible that a change in the Company's estimates of that exposure could occur, but the Company does not expect such changes in estimated costs would have a material effect on the Company's consolidated financial position, results of operations or cash flows. |
Multiemployer_Pension_Plans
Multiemployer Pension Plans | 6 Months Ended |
Jun. 30, 2014 | |
Compensation and Retirement Disclosure [Abstract] | ' |
Multiemployer Pension Plans | ' |
MULTI-EMPLOYER PENSION PLANS | |
During the six months ended June 30, 2014, the Company received notification from the American Maritime Officers Pension Plan (the "AMOPP”) that the Company's withdrawal liability as of September 30, 2013 was $46.5 million based on an actuarial valuation performed as of that date. That liability may change in future years based on various factors, primarily employee census. As of June 30, 2014, the Company has no intention to withdraw from the AMOPP and no deficit amounts have been invoiced. Depending upon the results of the future actuarial valuations and the ten-year rehabilitation plan, it is possible that the AMOPP will experience further funding deficits, requiring the Company to recognize additional payroll related operating expenses in the periods invoices are received or contribution levels are increased. |
LongTerm_Debt
Long-Term Debt | 6 Months Ended |
Jun. 30, 2014 | |
Long-term Debt and Capital Lease Obligations [Abstract] | ' |
Long-Term Debt | ' |
LONG-TERM DEBT | |
As of June 30, 2014, the Company had outstanding letters of credit totaling $18.2 million with various expiration dates through 2018. | |
During the six months ended June 30, 2014, the Company made scheduled payments on long-term debt of $7.2 million and made net repayments of $6.3 million under inventory financing arrangements. | |
SEACOR’s Board of Directors has previously authorized the Company to purchase any or all of its 7.375% Senior Notes due 2019, which may be acquired through open market purchases, privately negotiated transactions or otherwise, depending on market conditions. During the six months ended June 30, 2014, the Company did not repurchase any of its 7.375% Senior Notes due 2019. |
Stock_Repurchases
Stock Repurchases | 6 Months Ended |
Jun. 30, 2014 | |
Stock Repurchases [Abstract] | ' |
Stock Repurchases | ' |
STOCK REPURCHASES | |
SEACOR’s Board of Directors previously approved a securities repurchase plan that authorizes the Company to acquire shares of SEACOR common stock, par value $0.01 per share (“Common Stock”), which may be acquired through open market purchases, privately negotiated transactions or otherwise, depending on market conditions. During the six months ended June 30, 2014, the Company acquired 493,032 shares of Common Stock for treasury for an aggregate purchase price of $39.2 million. As of June 30, 2014, the remaining authority under the repurchase plan was $60.8 million. | |
On June 20, 2014, the Company executed a purchase agreement whereby the Company appointed Goldman, Sachs & Co. as broker to purchase Common Stock in compliance with the requirements of Rule 10b5-1(c)(l)(i) for the period June 19, 2014 through August 4, 2014. Subsequent to June 30, 2014 and through July 29, 2014, the Company purchased 321,377 shares of Common Stock for treasury for an aggregate purchase price of $25.4 million. Effective July 31, 2014, SEACOR’s Board of Directors increased the Company's authority to repurchase Common Stock to $150.0 million. |
Noncontrolling_Interests_in_Su
Noncontrolling Interests in Subsidiaries (Notes) | 6 Months Ended | ||||||||||||
Jun. 30, 2014 | |||||||||||||
Noncontrolling Interest [Abstract] | ' | ||||||||||||
Noncontrolling Interests in Subsidiaries Disclosure [Text Block] | ' | ||||||||||||
11 | NONCONTROLLING INTERESTS IN SUBSIDIARIES | ||||||||||||
Noncontrolling interests in the Company's consolidated subsidiaries were as follows (amounts in thousands except noncontrolling interests' percentages): | |||||||||||||
Noncontrolling Interests | 30-Jun-14 | December 31, 2013 | |||||||||||
Offshore Marine Services: | |||||||||||||
Windcat Workboats Ltd. | 25% | $ | 7,761 | $ | 7,541 | ||||||||
Other | 1.8 | % | – | 33.30% | 1,233 | 1,600 | |||||||
Inland River Services: | |||||||||||||
Other | 3 | % | – | 51.80% | 1,204 | 2,612 | |||||||
Shipping Services: | |||||||||||||
Sea-Vista | 49% | 72,886 | — | ||||||||||
Illinois Corn Processing | 30% | 16,864 | 10,894 | ||||||||||
Other | 5 | % | – | 18.90% | 1,751 | 1,929 | |||||||
$ | 101,699 | $ | 24,576 | ||||||||||
Windcat Workboats. Windcat Workboats Holdings Ltd. (“Windcat Workboats”) owns and operates the Company’s wind farm utility vessels that are primarily used to move personnel and supplies in the major offshore wind markets of Europe. As of June 30, 2014, the net assets of Windcat Workboats were $31.0 million. During the six months ended June 30, 2014, the net loss of Windcat Workboats was $0.1 million and the amount attributable to the noncontrolling interest was not material. During the six months ended June 30, 2013, the net loss of Windcat Workboats was $2.7 million, of which $0.7 million was attributable to noncontrolling interests. | |||||||||||||
SEA-Vista. On May 2, 2014, the Company issued a 49% noncontrolling interest to a financial investor in certain of its subsidiaries (collectively "SEA-Vista") that own and operate the Company's fleet of U.S.-flag product tankers used in the U.S. coastwise trade of crude oil, petroleum and specialty chemical products for $145.7 million, net of $3.2 million in issue costs. SEA-Vista also holds the Company's contracts for the construction of three 50,000 DWT (deadweight tonnage) product tankers with expected deliveries in May 2016, October 2016 and March 2017, as well as its Title XI bonds payable and reserve funds and certain other working capital. The Company has evaluated the noncontrolling interest's protective rights in SEA-Vista, its ownership interest, and the underlying terms and conditions that govern SEA-Vista's operations and determined that the Company controls SEA-Vista. As a result, the Company has consolidated the financial position, operating results and cash flows of SEA-Vista. As of June 30, 2014, the net assets of SEA-Vista were $148.7 million. From May 2, 2014 through June 30, 2014, the net income of SEA-Vista was $4.1 million, of which $2.0 million was attributable to noncontrolling interests. | |||||||||||||
Illinois Corn Processing. Illinois Corn Processing LLC (“ICP”) owns and operates an alcohol manufacturing, storage and distribution facility located in Pekin, IL. As of June 30, 2014, the net assets of ICP were $62.5 million. During the six months ended June 30, 2014, the net income of ICP was $23.8 million, of which $6.0 million was attributable to noncontrolling interests. During the six months ended June 30, 2013, the net loss of ICP was $3.5 million, of which $1.3 million was attributable to noncontrolling interests. | |||||||||||||
For the twelve months ending March 31, 2014, the noncontrolling member of ICP had invoked a plant shutdown election that is available to each LLC member under certain circumstances; however, under its member rights, the Company elected to keep the plant in operation. As a result, the earnings and losses of ICP were disproportionately allocated to its members during the plant shutdown election period. Effective April 1, 2014, the noncontrolling member of ICP withdrew its plant shutdown election. | |||||||||||||
Inland River Services. During the six months ended June 30, 2014, the Company acquired the noncontrolling interest in one of its Inland River Services partnerships for $3.1 million ($2.1 million in cash and $1.0 million through the distribution of an inland river towboat to the noncontrolling interest holder). |
Earnings_Per_Common_Share_of_S
Earnings Per Common Share of SEACOR | 6 Months Ended | |||||||||||||||||||||
Jun. 30, 2014 | ||||||||||||||||||||||
Earnings Per Common Share of SEACOR [Abstract] | ' | |||||||||||||||||||||
Earnings Per Common Share of SEACOR | ' | |||||||||||||||||||||
EARNINGS PER COMMON SHARE OF SEACOR | ||||||||||||||||||||||
Basic earnings per common share of SEACOR are computed based on the weighted average number of common shares issued and outstanding during the relevant periods. Diluted earnings per common share of SEACOR are computed based on the weighted average number of common shares issued and outstanding plus the effect of potentially dilutive securities through the application of the treasury stock and if-converted methods. Dilutive securities for this purpose assumes restricted stock grants have vested, common shares have been issued pursuant to the exercise of outstanding stock options and common shares have been issued pursuant to the conversion of all outstanding convertible notes. | ||||||||||||||||||||||
Computations of basic and diluted earnings per common share of SEACOR were as follows (in thousands, except share data): | ||||||||||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||||||
Net Income Attributable to SEACOR | Average O/S Shares | Per Share | Net Income (Loss) Attributable to SEACOR | Average O/S Shares | Per Share | |||||||||||||||||
2014 | ||||||||||||||||||||||
Basic Weighted Average Common Shares Outstanding | $ | 21,067 | 19,989,402 | $ | 1.05 | $ | 32,576 | 20,049,056 | $ | 1.62 | ||||||||||||
Effect of Dilutive Share Awards: | ||||||||||||||||||||||
Options and Restricted Stock(1) | — | 394,567 | — | 416,288 | ||||||||||||||||||
Convertible Notes(2) | 3,148 | 4,200,525 | 6,287 | 4,200,525 | ||||||||||||||||||
Diluted Weighted Average Common Shares Outstanding | $ | 24,215 | 24,584,494 | $ | 0.98 | $ | 38,863 | 24,665,869 | $ | 1.58 | ||||||||||||
2013 | ||||||||||||||||||||||
Basic Weighted Average Common Shares Outstanding | $ | 19,271 | 19,825,229 | $ | 0.97 | $ | (1,717 | ) | 19,782,318 | $ | (0.09 | ) | ||||||||||
Effect of Dilutive Share Awards: | ||||||||||||||||||||||
Options and Restricted Stock(1) | — | 366,558 | — | 332,586 | ||||||||||||||||||
Convertible Notes(3) | 3,044 | 4,200,525 | — | — | ||||||||||||||||||
Diluted Weighted Average Common Shares Outstanding | $ | 22,315 | 24,392,312 | $ | 0.91 | $ | (1,717 | ) | 20,114,904 | $ | (0.09 | ) | ||||||||||
______________________ | ||||||||||||||||||||||
-1 | For the three months ended June 30, 2014 and 2013, diluted earnings per common share of SEACOR excluded 365,398 and 355,490 of certain share awards, respectively, as the effect of their inclusion in the computation would be anti-dilutive. For the six months ended June 30, 2014 and 2013, diluted earnings per common share of SEACOR excluded 288,510 and 503,726 of certain share awards, respectively, as the effect of their inclusion in the computation would be anti-dilutive. | |||||||||||||||||||||
-2 | For the three and six months ended June 30, 2014, diluted earnings per common share of SEACOR excluded 1,825,326 common shares issuable pursuant to the Company's 3.0% Convertible Senior Notes as the effect of their inclusion in the computation would be anti-dilutive. | |||||||||||||||||||||
-3 | For the six months ended June 30, 2013, diluted earnings per common share of SEACOR excluded 4,200,525 common shares issuable pursuant to the Company's 2.5% Convertible Senior Notes as the effect of their inclusion in the computation would be anti-dilutive. |
Share_Based_Compensation
Share Based Compensation | 6 Months Ended | ||
Jun. 30, 2014 | |||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||
Share Based Compensation | ' | ||
SHARE BASED COMPENSATION | |||
Transactions in connection with the Company’s share based compensation plans during the six months ended June 30, 2014 were as follows: | |||
Director stock awards granted | 1,250 | ||
Employee Stock Purchase Plan (“ESPP”) shares issued | 16,720 | ||
Restricted stock awards granted | 147,645 | ||
Restricted stock awards canceled | 1,000 | ||
Shares released from Deferred Compensation Plan | — | ||
Stock Option Activities: | |||
Outstanding as of December 31, 2013 | 1,481,280 | ||
Granted | 106,925 | ||
Exercised | (90,144 | ) | |
Outstanding as of June 30, 2014 | 1,498,061 | ||
Shares available for future grants and ESPP purchases as of June 30, 2014 | 1,236,955 | ||
Segment_Information
Segment Information | 6 Months Ended | ||||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||||||
Segment Information | ' | ||||||||||||||||||||
SEGMENT INFORMATION | |||||||||||||||||||||
Accounting standards require public business enterprises to report information about each of their operating business segments that exceed certain quantitative thresholds or meet certain other reporting requirements. Operating business segments have been defined as components of an enterprise about which separate financial information is available and is evaluated regularly by the chief operating decision maker in deciding how to allocate resources and in assessing performance. The Company’s segment presentation and basis of measurement of segment profit or loss are as previously described in the Company’s Annual Report on Form 10-K for the year ended December 31, 2013. | |||||||||||||||||||||
The following tables summarize the operating results, capital expenditures and assets of the Company's reportable segments. | |||||||||||||||||||||
Offshore | Inland | Shipping | ICP | Other | Corporate | Total | |||||||||||||||
Marine | River | Services | $’000 | $’000 | and | $’000 | |||||||||||||||
Services | Services | $’000 | Eliminations | ||||||||||||||||||
$’000 | $’000 | $’000 | |||||||||||||||||||
For the three months ended | |||||||||||||||||||||
30-Jun-14 | |||||||||||||||||||||
Operating Revenues: | |||||||||||||||||||||
External customers | 138,214 | 55,200 | 53,575 | 72,798 | 8,437 | — | 328,224 | ||||||||||||||
Intersegment | 33 | 807 | — | — | — | (840 | ) | — | |||||||||||||
138,247 | 56,007 | 53,575 | 72,798 | 8,437 | (840 | ) | 328,224 | ||||||||||||||
Costs and Expenses: | |||||||||||||||||||||
Operating | 93,755 | 45,047 | 28,018 | 56,429 | 9,464 | (807 | ) | 231,906 | |||||||||||||
Administrative and general | 13,426 | 3,835 | 5,421 | 594 | 3,449 | 7,961 | 34,686 | ||||||||||||||
Depreciation and amortization | 16,448 | 7,564 | 7,115 | 1,010 | 82 | 1,001 | 33,220 | ||||||||||||||
123,629 | 56,446 | 40,554 | 58,033 | 12,995 | 8,155 | 299,812 | |||||||||||||||
Gains (Losses) on Asset Dispositions | 3,526 | 810 | (41 | ) | — | — | — | 4,295 | |||||||||||||
Operating Income (Loss) | 18,144 | 371 | 12,980 | 14,765 | (4,558 | ) | (8,995 | ) | 32,707 | ||||||||||||
Other Income (Expense): | |||||||||||||||||||||
Derivative gains (losses), net | (70 | ) | — | — | (1,519 | ) | 1,500 | 183 | 94 | ||||||||||||
Foreign currency (gains) losses, net | 1,322 | 474 | 1 | — | 53 | (130 | ) | 1,720 | |||||||||||||
Other, net | 14,739 | — | 158 | 300 | (5,013 | ) | 29 | 10,213 | |||||||||||||
Equity in Earnings (Losses) of 50% or Less Owned Companies, Net of Tax | 2,244 | (3,335 | ) | 1,564 | — | (985 | ) | — | (512 | ) | |||||||||||
Segment Profit (Loss) | 36,379 | (2,490 | ) | 14,703 | 13,546 | (9,003 | ) | ||||||||||||||
Other Income (Expense) not included in Segment Profit (Loss) | (3,697 | ) | |||||||||||||||||||
Less Equity Losses included in Segment Profit (Loss) | 512 | ||||||||||||||||||||
Income Before Taxes and Equity Earnings | 41,037 | ||||||||||||||||||||
Offshore | Inland | Shipping | ICP(1)(2) | Other | Corporate | Total | |||||||||||||||
Marine | River | Services | $’000 | $’000 | and | $’000 | |||||||||||||||
Services | Services | $’000 | Eliminations | ||||||||||||||||||
$’000 | $’000 | $’000 | |||||||||||||||||||
For the six months ended | |||||||||||||||||||||
30-Jun-14 | |||||||||||||||||||||
Operating Revenues: | |||||||||||||||||||||
External customers | 267,171 | 112,211 | 105,976 | 131,454 | 21,429 | — | 638,241 | ||||||||||||||
Intersegment | 77 | 1,755 | — | — | — | (1,832 | ) | — | |||||||||||||
267,248 | 113,966 | 105,976 | 131,454 | 21,429 | (1,832 | ) | 638,241 | ||||||||||||||
Costs and Expenses: | |||||||||||||||||||||
Operating | 187,798 | 84,721 | 55,015 | 103,703 | 21,400 | (1,755 | ) | 450,882 | |||||||||||||
Administrative and general | 28,586 | 8,172 | 11,317 | 1,105 | 6,560 | 17,023 | 72,763 | ||||||||||||||
Depreciation and amortization | 32,752 | 14,934 | 14,869 | 2,000 | 167 | 1,890 | 66,612 | ||||||||||||||
249,136 | 107,827 | 81,201 | 106,808 | 28,127 | 17,158 | 590,257 | |||||||||||||||
Gains (Losses) on Asset Dispositions | 11,264 | 1,663 | (41 | ) | — | (409 | ) | (3,504 | ) | 8,973 | |||||||||||
and Impairments, Net | |||||||||||||||||||||
Operating Income (Loss) | 29,376 | 7,802 | 24,734 | 24,646 | (7,107 | ) | (22,494 | ) | 56,957 | ||||||||||||
Other Income (Expense): | |||||||||||||||||||||
Derivative gains (losses), net | (131 | ) | — | — | (801 | ) | 767 | 22 | (143 | ) | |||||||||||
Foreign currency gains (losses), net | 1,429 | 147 | (9 | ) | — | 62 | (108 | ) | 1,521 | ||||||||||||
Other, net | 14,739 | (38 | ) | (3,775 | ) | 493 | (4,838 | ) | (23 | ) | 6,558 | ||||||||||
Equity in Earnings (Losses) of 50% or Less Owned Companies, Net of Tax | 4,885 | (3,747 | ) | 2,317 | — | (1,746 | ) | — | 1,709 | ||||||||||||
Segment Profit (Loss) | 50,298 | 4,164 | 23,267 | 24,338 | (12,862 | ) | |||||||||||||||
Other Income (Expense) not included in Segment Profit (Loss) | (5,987 | ) | |||||||||||||||||||
Less Equity Earnings included in Segment Profit (Loss) | (1,709 | ) | |||||||||||||||||||
Income Before Taxes and Equity Earnings | 58,906 | ||||||||||||||||||||
Capital Expenditures | 46,621 | 44,086 | 165,160 | 2,098 | 123 | 15,581 | 273,669 | ||||||||||||||
As of June 30, 2014 | |||||||||||||||||||||
Property and Equipment: | |||||||||||||||||||||
Historical cost | 1,154,174 | 519,586 | 451,123 | 44,808 | 3,760 | 43,176 | 2,216,627 | ||||||||||||||
Accumulated depreciation | (499,092 | ) | (161,091 | ) | (200,908 | ) | (13,369 | ) | (769 | ) | (13,213 | ) | (888,442 | ) | |||||||
655,082 | 358,495 | 250,215 | 31,439 | 2,991 | 29,963 | 1,328,185 | |||||||||||||||
Construction in progress | 91,824 | 32,175 | 171,204 | 2,156 | 224 | (60 | ) | 297,523 | |||||||||||||
746,906 | 390,670 | 421,419 | 33,595 | 3,215 | 29,903 | 1,625,708 | |||||||||||||||
Investments, at Equity, and Advances to 50% or Less Owned Companies | 129,775 | 61,653 | 205,110 | — | 87,626 | — | 484,164 | ||||||||||||||
Inventories | 5,571 | 2,309 | 1,438 | 9,926 | 963 | — | 20,207 | ||||||||||||||
Goodwill | 13,367 | 2,793 | 1,852 | — | — | — | 18,012 | ||||||||||||||
Intangible Assets | 2,784 | 7,085 | 575 | — | 310 | — | 10,754 | ||||||||||||||
Other current and long-term assets, excluding cash and near cash assets(3) | 154,188 | 55,819 | 19,816 | 13,559 | 49,232 | 18,642 | 311,256 | ||||||||||||||
Segment Assets | 1,052,591 | 520,329 | 650,210 | 57,080 | 141,346 | ||||||||||||||||
Cash and near cash assets(3) | 825,892 | ||||||||||||||||||||
Total Assets | 3,295,993 | ||||||||||||||||||||
______________________ | |||||||||||||||||||||
-1 | Operating revenues includes $126.1 million of tangible product sales and operating expenses includes $98.2 million of costs of goods sold. | ||||||||||||||||||||
-2 | Inventories includes raw materials of $2.2 million and work in process of $1.3 million. | ||||||||||||||||||||
-3 | Cash and near cash assets includes cash, cash equivalents, restricted cash, marketable securities, construction reserve funds and Title XI reserve funds. | ||||||||||||||||||||
Offshore | Inland | Shipping | ICP | Other | Corporate | Total | |||||||||||||||
Marine | River | Services | $’000 | $’000 | and | $’000 | |||||||||||||||
Services | Services | $’000 | Eliminations | ||||||||||||||||||
$’000 | $’000 | $’000 | |||||||||||||||||||
For the three months ended | |||||||||||||||||||||
June 30, 2013 | |||||||||||||||||||||
Operating Revenues: | |||||||||||||||||||||
External customers | 138,650 | 46,780 | 48,103 | 61,378 | 20,652 | — | 315,563 | ||||||||||||||
Intersegment | 28 | 577 | — | — | — | (605 | ) | — | |||||||||||||
138,678 | 47,357 | 48,103 | 61,378 | 20,652 | (605 | ) | 315,563 | ||||||||||||||
Costs and Expenses: | |||||||||||||||||||||
Operating | 97,581 | 35,193 | 29,554 | 59,402 | 18,960 | (577 | ) | 240,113 | |||||||||||||
Administrative and general | 14,235 | 3,921 | 6,124 | 477 | 1,323 | 8,638 | 34,718 | ||||||||||||||
Depreciation and amortization | 16,460 | 7,078 | 7,907 | 1,489 | 96 | 753 | 33,783 | ||||||||||||||
128,276 | 46,192 | 43,585 | 61,368 | 20,379 | 8,814 | 308,614 | |||||||||||||||
Gains on Asset Dispositions | 7,895 | 4,296 | 114 | — | — | — | 12,305 | ||||||||||||||
Operating Income (Loss) | 18,297 | 5,461 | 4,632 | 10 | 273 | (9,419 | ) | 19,254 | |||||||||||||
Other Income (Expense): | |||||||||||||||||||||
Derivative gains (losses), net | 175 | — | — | 473 | (450 | ) | (1,023 | ) | (825 | ) | |||||||||||
Foreign currency gains (losses), net | (833 | ) | 219 | (8 | ) | — | (169 | ) | (125 | ) | (916 | ) | |||||||||
Other, net | 11 | — | 188 | — | — | (4 | ) | 195 | |||||||||||||
Equity in Earnings (Losses) of 50% or Less Owned Companies, Net of Tax | 7,694 | 1 | (403 | ) | — | 418 | — | 7,710 | |||||||||||||
Segment Profit | 25,344 | 5,681 | 4,409 | 483 | 72 | ||||||||||||||||
Other Income (Expense) not included in Segment Profit | 1,853 | ||||||||||||||||||||
Less Equity Earnings included in Segment Profit | (7,710 | ) | |||||||||||||||||||
Income Before Taxes and Equity Earnings | 19,561 | ||||||||||||||||||||
Offshore | Inland | Shipping | ICP(1)(2) | Other | Corporate | Total | |||||||||||||||
Marine | River | Services | $’000 | $’000 | and | $’000 | |||||||||||||||
Services | Services | $’000 | Eliminations | ||||||||||||||||||
$’000 | $’000 | $’000 | |||||||||||||||||||
For the six months ended | |||||||||||||||||||||
30-Jun-13 | |||||||||||||||||||||
Operating Revenues: | |||||||||||||||||||||
External customers | 262,642 | 96,203 | 94,579 | 94,227 | 34,976 | — | 582,627 | ||||||||||||||
Intersegment | 52 | 1,231 | — | — | — | (1,283 | ) | — | |||||||||||||
262,694 | 97,434 | 94,579 | 94,227 | 34,976 | (1,283 | ) | 582,627 | ||||||||||||||
Costs and Expenses: | |||||||||||||||||||||
Operating | 187,612 | 71,582 | 56,168 | 93,447 | 33,448 | (1,231 | ) | 441,026 | |||||||||||||
Administrative and general | 29,062 | 7,945 | 11,301 | 1,138 | 2,979 | 17,938 | 70,363 | ||||||||||||||
Depreciation and amortization | 32,747 | 14,162 | 15,704 | 2,978 | 195 | 1,545 | 67,331 | ||||||||||||||
249,421 | 93,689 | 83,173 | 97,563 | 36,622 | 18,252 | 578,720 | |||||||||||||||
Gains (Losses) on Asset Dispositions and Impairments, Net | 10,234 | 4,993 | (2,955 | ) | — | 1,907 | 141 | 14,320 | |||||||||||||
Operating Income (Loss) | 23,507 | 8,738 | 8,451 | (3,336 | ) | 261 | (19,394 | ) | 18,227 | ||||||||||||
Other Income (Expense): | |||||||||||||||||||||
Derivative gains (losses), net | 325 | — | — | 512 | 392 | (4,161 | ) | (2,932 | ) | ||||||||||||
Foreign currency gains (losses), net | (4,097 | ) | 82 | (15 | ) | — | (336 | ) | (561 | ) | (4,927 | ) | |||||||||
Other, net | 11 | — | 202 | — | 54 | (69 | ) | 198 | |||||||||||||
Equity in Earnings (Losses) of 50% or Less Owned Companies, Net of Tax | 9,007 | (2,386 | ) | (1,908 | ) | — | 2,128 | — | 6,841 | ||||||||||||
Segment Profit (Loss) | 28,753 | 6,434 | 6,730 | (2,824 | ) | 2,499 | |||||||||||||||
Other Income (Expense) not included in Segment Profit (Loss) | (3,825 | ) | |||||||||||||||||||
Less Equity Earnings included in Segment Profit (Loss) | (6,841 | ) | |||||||||||||||||||
Loss Before Taxes, Equity Earnings and Discontinued Operations | 6,741 | ||||||||||||||||||||
Capital Expenditures | 49,764 | 9,238 | 27,048 | 217 | 357 | 1,307 | 87,931 | ||||||||||||||
As of June 30, 2013 | |||||||||||||||||||||
Property and Equipment: | |||||||||||||||||||||
Historical cost | 1,151,751 | 466,553 | 517,409 | 44,006 | 3,989 | 29,221 | 2,212,929 | ||||||||||||||
Accumulated depreciation | (439,211 | ) | (134,235 | ) | (214,372 | ) | (8,614 | ) | (531 | ) | (9,709 | ) | (806,672 | ) | |||||||
712,540 | 332,318 | 303,037 | 35,392 | 3,458 | 19,512 | 1,406,257 | |||||||||||||||
Construction in progress | 90,847 | 17,700 | 22,037 | — | 2,087 | 1,314 | 133,985 | ||||||||||||||
803,387 | 350,018 | 325,074 | 35,392 | 5,545 | 20,826 | 1,540,242 | |||||||||||||||
Investments, at Equity, and Advances to 50% or Less Owned Companies | 84,418 | 55,875 | 66,786 | — | 86,714 | — | 293,793 | ||||||||||||||
Inventories | 5,885 | 2,260 | 1,427 | 12,164 | 1,219 | — | 22,955 | ||||||||||||||
Goodwill | 13,367 | 2,759 | 1,852 | — | — | — | 17,978 | ||||||||||||||
Intangible Assets | 4,584 | 8,416 | 1,134 | 50 | 410 | — | 14,594 | ||||||||||||||
Other current and long-term assets, excluding cash and near cash assets(3) | 146,551 | 37,260 | 16,021 | 10,925 | 56,591 | 22,225 | 289,573 | ||||||||||||||
Segment Assets | 1,058,192 | 456,588 | 412,294 | 58,531 | 150,479 | ||||||||||||||||
Cash and near cash assets(3) | 589,198 | ||||||||||||||||||||
Discontinued operations | — | ||||||||||||||||||||
Total Assets | 2,768,333 | ||||||||||||||||||||
______________________ | |||||||||||||||||||||
-1 | Operating revenues includes $90.2 million of tangible product sales and operating expenses includes $89.4 million of costs of goods sold. | ||||||||||||||||||||
-2 | Inventories includes raw materials of $2.8 million and work in process of $2.2 million. | ||||||||||||||||||||
-3 | Cash and near cash assets includes cash, cash equivalents, restricted cash, marketable securities, construction reserve funds and Title XI reserve funds. |
Discontinued_Operations_Notes
Discontinued Operations (Notes) | 6 Months Ended | |||
Jun. 30, 2014 | ||||
Discontinued Operations [Abstract] | ' | |||
Disposal Groups, Including Discontinued Operations, Disclosure | ' | |||
DISCONTINUED OPERATIONS | ||||
Summarized selected operating results of the Company's discontinued operations for the six months ended June 30, 2013 were as follows (in thousands): | ||||
SES Business | ||||
Other Expense (final working capital adjustments) | $ | (1,537 | ) | |
Income Tax Benefit | 538 | |||
Net Loss | $ | (999 | ) | |
SEI | ||||
Other Expense (final working capital adjustments) | $ | (143 | ) | |
Income Tax Benefit | 50 | |||
Net Loss | $ | (93 | ) | |
Era Group | ||||
Operating Revenues | $ | 22,892 | ||
Costs and Expenses: | ||||
Operating | 14,076 | |||
Administrative and general | 2,653 | |||
Depreciation and amortization | 3,875 | |||
20,604 | ||||
Gains on Asset Dispositions and Impairments, Net | 548 | |||
Operating Income | 2,836 | |||
Other Expense, Net | (1,316 | ) | ||
Income Tax Expense | (10,818 | ) | ||
Equity in Earnings of 50% or Less Owned Companies | 65 | |||
Net Loss | $ | (9,233 | ) | |
Schedule of Disposal Groups, Including Discontinued Operations, Income Statement, Balance Sheet and Additional Disclosures | ' | |||
Summarized selected operating results of the Company's discontinued operations for the six months ended June 30, 2013 were as follows (in thousands): | ||||
SES Business | ||||
Other Expense (final working capital adjustments) | $ | (1,537 | ) | |
Income Tax Benefit | 538 | |||
Net Loss | $ | (999 | ) | |
SEI | ||||
Other Expense (final working capital adjustments) | $ | (143 | ) | |
Income Tax Benefit | 50 | |||
Net Loss | $ | (93 | ) | |
Era Group | ||||
Operating Revenues | $ | 22,892 | ||
Costs and Expenses: | ||||
Operating | 14,076 | |||
Administrative and general | 2,653 | |||
Depreciation and amortization | 3,875 | |||
20,604 | ||||
Gains on Asset Dispositions and Impairments, Net | 548 | |||
Operating Income | 2,836 | |||
Other Expense, Net | (1,316 | ) | ||
Income Tax Expense | (10,818 | ) | ||
Equity in Earnings of 50% or Less Owned Companies | 65 | |||
Net Loss | $ | (9,233 | ) |
Basis_of_Presentation_and_Acco1
Basis of Presentation and Accounting Policy (Policy) | 6 Months Ended | ||||||||||||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||||||||||||
Nature Of Operations And Accounting Policies [Abstract] | ' | ||||||||||||||||||||||||||||
Basis Of Consolidation | ' | ||||||||||||||||||||||||||||
The condensed consolidated financial information for the three and six months ended June 30, 2014 and 2013 has been prepared by the Company and has not been audited by its independent registered public accounting firm. The condensed consolidated financial statements include the accounts of SEACOR Holdings Inc. and its consolidated subsidiaries. In the opinion of management, all adjustments (consisting of normal recurring adjustments) have been made to fairly present the Company’s financial position as of June 30, 2014, its results of operations for the three and six months ended June 30, 2014 and 2013, its comprehensive income (loss) for the three and six months ended June 30, 2014 and 2013, its changes in equity for the six months ended June 30, 2014, and its cash flows for the six months ended June 30, 2014 and 2013. Results of operations for the interim periods presented are not necessarily indicative of operating results for the full year or any future periods. | |||||||||||||||||||||||||||||
Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles in the United States have been condensed or omitted. These condensed consolidated financial statements should be read in conjunction with the financial statements and related notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2013. | |||||||||||||||||||||||||||||
Unless the context otherwise indicates, any reference in this Quarterly Report on Form 10-Q to the “Company” refers to SEACOR Holdings Inc. and its consolidated subsidiaries and any reference in this Quarterly Report on Form 10-Q to “SEACOR” refers to SEACOR Holdings Inc. Capitalized terms used and not specifically defined herein have the same meaning as such defined terms used in the Company's Annual report on Form 10-K for the year ended December 31, 2013. | |||||||||||||||||||||||||||||
Discontinued Operations, Policy | ' | ||||||||||||||||||||||||||||
Discontinued Operations (see Note 15). The Company reports disposed businesses as discontinued operations when it has no continuing interest in the business. Discontinued operations includes the historical financial position, results of operations and cash flows of the operations previously reported as discontinued in the Company's Annual Report on Form 10-K for the year ended December 31, 2013. | |||||||||||||||||||||||||||||
Revenue Recognition | ' | ||||||||||||||||||||||||||||
Revenue Recognition. The Company recognizes revenue when it is realized or realizable and earned. Revenue is realized or realizable and earned when persuasive evidence of an arrangement exists, delivery has occurred or services have been rendered, the price to the buyer is fixed or determinable, and collectability is reasonably assured. Revenue that does not meet these criteria is deferred until the criteria are met. Deferred revenues, included in other current liabilities, for the six months ended June 30, were as follows (in thousands): | |||||||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||||||
Balance at beginning of period | $ | 6,592 | $ | 6,592 | |||||||||||||||||||||||||
Revenues deferred during the period | 202 | — | |||||||||||||||||||||||||||
Balance at end of period | $ | 6,794 | $ | 6,592 | |||||||||||||||||||||||||
As of June 30, 2014 and 2013, the Company's deferred revenues related to the time charter of several offshore support vessels scheduled to be paid through the conveyance of an overriding royalty interest (the "Conveyance") in developmental oil and gas producing properties operated by a customer in the U.S. Gulf of Mexico. Payments under the Conveyance, and the timing of such payments, were contingent upon production and energy sale prices. On August 17, 2012, the customer filed a voluntary petition for chapter 11 bankruptcy, which was converted to chapter 7 in June 2014. The Company is vigorously defending its interest in connection with the bankruptcy filing; however, payments received under the Conveyance subsequent to August 17, 2012 and during the 90 days prior to the filing are subject to bankruptcy court approval. The Company will recognize revenues as approved by the bankruptcy court. All costs and expenses related to these charters were recognized as incurred. | |||||||||||||||||||||||||||||
Comprehensive Income (Loss) Note | ' | ||||||||||||||||||||||||||||
Accumulated Other Comprehensive Income (Loss). The components of accumulated other comprehensive income (loss) were as follows: | |||||||||||||||||||||||||||||
SEACOR Holdings Inc. Stockholders' Equity | Noncontrolling | ||||||||||||||||||||||||||||
Interests | |||||||||||||||||||||||||||||
Foreign | Derivative | Other | Total | Foreign | Other | Other | |||||||||||||||||||||||
Currency | Losses on | Currency | Comprehensive | ||||||||||||||||||||||||||
Translation | Cash Flow | Translation | Income | ||||||||||||||||||||||||||
Adjustments | Hedges, net | Adjustments | |||||||||||||||||||||||||||
31-Dec-13 | $ | (927 | ) | $ | (257 | ) | $ | (8 | ) | $ | (1,192 | ) | $ | 395 | $ | (5 | ) | ||||||||||||
Other comprehensive income | 1,988 | 192 | — | 2,180 | 239 | — | $ | 2,419 | |||||||||||||||||||||
Income tax expense | (696 | ) | (67 | ) | — | (763 | ) | — | — | (763 | ) | ||||||||||||||||||
Six months ended June 30, 2014 | $ | 365 | $ | (132 | ) | $ | (8 | ) | $ | 225 | $ | 634 | $ | (5 | ) | $ | 1,656 | ||||||||||||
New Accounting Pronouncements | ' | ||||||||||||||||||||||||||||
New Accounting Pronouncement. On May 28, 2014, the Financial Accounting Standards Board issued a comprehensive new revenue recognition standard that will supersede nearly all existing revenue recognition guidance under generally accepted accounting principles in the United States. The core principal of the new standard is that a company will recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. The new standard is effective for annual and interim periods beginning after December 15, 2016 and early adoption is prohibited. The Company has not yet determined what impact, if any, the adoption of the new standard will have on its consolidated financial position, results of operations or cash flows. | |||||||||||||||||||||||||||||
Reclassifications | ' | ||||||||||||||||||||||||||||
Reclassifications. Certain reclassifications of prior period information have been made to conform to the presentation of the current period information. These reclassifications had no effect on net income as previously reported. |
Basis_of_Presentation_and_Acco2
Basis of Presentation and Accounting Policy Deferred Revenue (Tables) | 6 Months Ended | |||||||
Jun. 30, 2014 | ||||||||
Deferred Revenue [Abstract] | ' | |||||||
Deferred Revenue, by Arrangement, Disclosure [Table Text Block] | ' | |||||||
Deferred revenues, included in other current liabilities, for the six months ended June 30, were as follows (in thousands): | ||||||||
2014 | 2013 | |||||||
Balance at beginning of period | $ | 6,592 | $ | 6,592 | ||||
Revenues deferred during the period | 202 | — | ||||||
Balance at end of period | $ | 6,794 | $ | 6,592 | ||||
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 6 Months Ended | |||||||||||||||
Jun. 30, 2014 | ||||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||||
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis | ' | |||||||||||||||
The Company’s financial assets and liabilities as of June 30, 2014 that are measured at fair value on a recurring basis were as follows (in thousands): | ||||||||||||||||
Level 1 | Level 2 | Level 3 | ||||||||||||||
ASSETS | ||||||||||||||||
Marketable securities(1) | $ | 33,275 | $ | — | $ | — | ||||||||||
Derivative instruments (included in other receivables) | 2,012 | 4,442 | — | |||||||||||||
Construction reserve funds and Title XI reserve funds | 324,856 | — | — | |||||||||||||
LIABILITIES | ||||||||||||||||
Short sale of marketable securities (included in other current liabilities) | 10,061 | — | — | |||||||||||||
Derivative instruments (included in other current liabilities) | 2,043 | 1,016 | — | |||||||||||||
______________________ | ||||||||||||||||
-1 | Marketable security gains, net include unrealized gains of $0.7 million and $6.5 million for the three months ended June 30, 2014 and 2013, respectively, related to marketable security positions held by the Company as of June 30, 2014. Marketable security gains, net include unrealized gains of $5.7 million and $10.5 million for the six months ended June 30, 2014 and 2013, respectively, related to marketable security positions held by the Company as of June 30, 2014. | |||||||||||||||
Estimated Fair Value Of Other Financial Assets And Liabilities | ' | |||||||||||||||
The estimated fair values of the Company’s other financial assets and liabilities as of June 30, 2014 were as follows (in thousands): | ||||||||||||||||
Estimated Fair Value | ||||||||||||||||
Carrying | Level 1 | Level 2 | Level 3 | |||||||||||||
Amount | ||||||||||||||||
ASSETS | ||||||||||||||||
Cash, cash equivalents and restricted cash | $ | 467,761 | $ | 467,761 | $ | — | $ | — | ||||||||
Investments, at cost, in 50% or less owned companies (included in other | 9,331 | see below | ||||||||||||||
assets) | ||||||||||||||||
Notes receivable from third parties (included in other receivables and other assets) | 20,228 | see below | ||||||||||||||
LIABILITIES | ||||||||||||||||
Long-term debt, including current portion(1) | 873,860 | — | 1,055,228 | — | ||||||||||||
______________________ | ||||||||||||||||
-1 | The estimated fair value includes the conversion options on the Company's 2.5% and 3.0% Convertible Senior Notes. | |||||||||||||||
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis | ' | |||||||||||||||
The Company’s non-financial assets and liabilities that were measured at fair value during the six months ended June 30, 2014 were as follows (in thousands): | ||||||||||||||||
Level 1 | Level 2 | Level 3 | ||||||||||||||
ASSETS | ||||||||||||||||
Long-lived assets held for sale(1) | $ | — | $ | 11,700 | $ | — | ||||||||||
______________________ | ||||||||||||||||
-1 | During the six months ended June 30, 2014, the Company recognized impairment charges of $3.9 million related to two aircraft following the adjustment of their carrying value to fair value based on the expected sales price of each. |
Derivative_Instruments_And_Hed1
Derivative Instruments And Hedging Strategies (Tables) | 6 Months Ended | |||||||
Jun. 30, 2014 | ||||||||
Derivative [Line Items] | ' | |||||||
Fair Values Of Derivative Instruments | ' | |||||||
The fair values of the Company’s derivative instruments as of June 30, 2014 were as follows (in thousands): | ||||||||
Derivative | Derivative | |||||||
Asset | Liability | |||||||
Forward currency exchange, option and future contracts | $ | 92 | $ | 60 | ||||
Interest rate swap agreements | — | 998 | ||||||
Commodity swap, option and future contracts: | ||||||||
Exchange traded | 2,012 | 1,983 | ||||||
Non-exchange traded | 4,350 | 18 | ||||||
$ | 6,454 | $ | 3,059 | |||||
Not Designated as Hedging Instrument [Member] | ' | |||||||
Derivative [Line Items] | ' | |||||||
Recognized Gains (Losses) On Derivative Instruments Not Designated As Hedging Instruments | ' | |||||||
Other Derivative Instruments. The Company recognized gains (losses) on derivative instruments not designated as hedging instruments for the six months ended June 30 as follows (in thousands): | ||||||||
2014 | 2013 | |||||||
Options on equities and equity indices | $ | 22 | $ | (3,012 | ) | |||
Forward currency exchange, option and future contracts | 187 | (592 | ) | |||||
Interest rate swap agreements | (135 | ) | 237 | |||||
Commodity swap, option and future contracts: | ||||||||
Exchange traded | 950 | (821 | ) | |||||
Non-exchange traded | (1,167 | ) | 1,256 | |||||
$ | (143 | ) | $ | (2,932 | ) |
Equipment_Acquisitions_Disposi1
Equipment Acquisitions, Dispositions and Depreciation and Impairment Policies (Tables) | 6 Months Ended | |||||||
Jun. 30, 2014 | ||||||||
Equipment Acquisitions, Dispositions And Depreciation And Impairment Policies [Abstract] | ' | |||||||
Schedule Of Deferred Gain Activity | ' | |||||||
Deferred gain activity related to these transactions for the six months ended June 30 was as follows (in thousands): | ||||||||
2014 | 2013 | |||||||
Balance at beginning of period | $ | 124,763 | $ | 111,514 | ||||
Adjustments to deferred gains arising from asset sales | 40,445 | 2,289 | ||||||
Amortization of deferred gains included in operating expenses as a reduction to rental expense | (7,155 | ) | (5,192 | ) | ||||
Amortization of deferred gains included in gains on asset dispositions and impairments, net | (2,656 | ) | (1,431 | ) | ||||
Balance at end of period | $ | 155,397 | $ | 107,180 | ||||
Schedule of Estimated Useful Life of Newly Acquired Equipment | ' | |||||||
As of June 30, 2014, the estimated useful life (in years) of each of the Company’s major categories of new equipment was as follows: | ||||||||
Offshore support vessels (excluding wind farm utility) | 20 | |||||||
Wind farm utility vessels | 10 | |||||||
Inland river dry-cargo and deck barges | 20 | |||||||
Inland river liquid tank barges | 25 | |||||||
Inland river towboats | 25 | |||||||
U.S.-flag product tankers | 25 | |||||||
Short-sea Container/RORO(1) vessels | 20 | |||||||
Harbor tugs | 25 | |||||||
Ocean liquid tank barges | 25 | |||||||
Terminal and manufacturing facilities | 20 | |||||||
______________________ | ||||||||
-1 | Roll on/Roll off ("RORO"). |
Noncontrolling_Interests_in_Su1
Noncontrolling Interests in Subsidiaries (Tables) | 6 Months Ended | ||||||||||||
Jun. 30, 2014 | |||||||||||||
Noncontrolling Interest [Abstract] | ' | ||||||||||||
Noncontrolling Interests in Subsidiaries [Table Text Block] | ' | ||||||||||||
oncontrolling interests in the Company's consolidated subsidiaries were as follows (amounts in thousands except noncontrolling interests' percentages): | |||||||||||||
Noncontrolling Interests | 30-Jun-14 | December 31, 2013 | |||||||||||
Offshore Marine Services: | |||||||||||||
Windcat Workboats Ltd. | 25% | $ | 7,761 | $ | 7,541 | ||||||||
Other | 1.8 | % | – | 33.30% | 1,233 | 1,600 | |||||||
Inland River Services: | |||||||||||||
Other | 3 | % | – | 51.80% | 1,204 | 2,612 | |||||||
Shipping Services: | |||||||||||||
Sea-Vista | 49% | 72,886 | — | ||||||||||
Illinois Corn Processing | 30% | 16,864 | 10,894 | ||||||||||
Other | 5 | % | – | 18.90% | 1,751 | 1,929 | |||||||
$ | 101,699 | $ | 24,576 | ||||||||||
Earnings_Per_Common_Share_of_S1
Earnings Per Common Share of SEACOR (Tables) | 6 Months Ended | |||||||||||||||||||||
Jun. 30, 2014 | ||||||||||||||||||||||
Earnings Per Common Share of SEACOR [Abstract] | ' | |||||||||||||||||||||
Schedule of Weighted Average Number of Shares | ' | |||||||||||||||||||||
Computations of basic and diluted earnings per common share of SEACOR were as follows (in thousands, except share data): | ||||||||||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||||||
Net Income Attributable to SEACOR | Average O/S Shares | Per Share | Net Income (Loss) Attributable to SEACOR | Average O/S Shares | Per Share | |||||||||||||||||
2014 | ||||||||||||||||||||||
Basic Weighted Average Common Shares Outstanding | $ | 21,067 | 19,989,402 | $ | 1.05 | $ | 32,576 | 20,049,056 | $ | 1.62 | ||||||||||||
Effect of Dilutive Share Awards: | ||||||||||||||||||||||
Options and Restricted Stock(1) | — | 394,567 | — | 416,288 | ||||||||||||||||||
Convertible Notes(2) | 3,148 | 4,200,525 | 6,287 | 4,200,525 | ||||||||||||||||||
Diluted Weighted Average Common Shares Outstanding | $ | 24,215 | 24,584,494 | $ | 0.98 | $ | 38,863 | 24,665,869 | $ | 1.58 | ||||||||||||
2013 | ||||||||||||||||||||||
Basic Weighted Average Common Shares Outstanding | $ | 19,271 | 19,825,229 | $ | 0.97 | $ | (1,717 | ) | 19,782,318 | $ | (0.09 | ) | ||||||||||
Effect of Dilutive Share Awards: | ||||||||||||||||||||||
Options and Restricted Stock(1) | — | 366,558 | — | 332,586 | ||||||||||||||||||
Convertible Notes(3) | 3,044 | 4,200,525 | — | — | ||||||||||||||||||
Diluted Weighted Average Common Shares Outstanding | $ | 22,315 | 24,392,312 | $ | 0.91 | $ | (1,717 | ) | 20,114,904 | $ | (0.09 | ) | ||||||||||
______________________ | ||||||||||||||||||||||
-1 | For the three months ended June 30, 2014 and 2013, diluted earnings per common share of SEACOR excluded 365,398 and 355,490 of certain share awards, respectively, as the effect of their inclusion in the computation would be anti-dilutive. For the six months ended June 30, 2014 and 2013, diluted earnings per common share of SEACOR excluded 288,510 and 503,726 of certain share awards, respectively, as the effect of their inclusion in the computation would be anti-dilutive. | |||||||||||||||||||||
-2 | For the three and six months ended June 30, 2014, diluted earnings per common share of SEACOR excluded 1,825,326 common shares issuable pursuant to the Company's 3.0% Convertible Senior Notes as the effect of their inclusion in the computation would be anti-dilutive. | |||||||||||||||||||||
-3 | For the six months ended June 30, 2013, diluted earnings per common share of SEACOR excluded 4,200,525 common shares issuable pursuant to the Company's 2.5% Convertible Senior Notes as the effect of their inclusion in the computation would be anti-dilutive. |
Share_Based_Compensation_Table
Share Based Compensation (Tables) | 6 Months Ended | ||
Jun. 30, 2014 | |||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||
Share Based Compensation Plans | ' | ||
Transactions in connection with the Company’s share based compensation plans during the six months ended June 30, 2014 were as follows: | |||
Director stock awards granted | 1,250 | ||
Employee Stock Purchase Plan (“ESPP”) shares issued | 16,720 | ||
Restricted stock awards granted | 147,645 | ||
Restricted stock awards canceled | 1,000 | ||
Shares released from Deferred Compensation Plan | — | ||
Stock Option Activities: | |||
Outstanding as of December 31, 2013 | 1,481,280 | ||
Granted | 106,925 | ||
Exercised | (90,144 | ) | |
Outstanding as of June 30, 2014 | 1,498,061 | ||
Shares available for future grants and ESPP purchases as of June 30, 2014 | 1,236,955 | ||
Segment_Information_Segment_In
Segment Information Segment Information (Tables) | 6 Months Ended | ||||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||||||
Operating Results, Capital Expenditures And Assets By Reporting Segment | ' | ||||||||||||||||||||
The following tables summarize the operating results, capital expenditures and assets of the Company's reportable segments. | |||||||||||||||||||||
Offshore | Inland | Shipping | ICP | Other | Corporate | Total | |||||||||||||||
Marine | River | Services | $’000 | $’000 | and | $’000 | |||||||||||||||
Services | Services | $’000 | Eliminations | ||||||||||||||||||
$’000 | $’000 | $’000 | |||||||||||||||||||
For the three months ended | |||||||||||||||||||||
30-Jun-14 | |||||||||||||||||||||
Operating Revenues: | |||||||||||||||||||||
External customers | 138,214 | 55,200 | 53,575 | 72,798 | 8,437 | — | 328,224 | ||||||||||||||
Intersegment | 33 | 807 | — | — | — | (840 | ) | — | |||||||||||||
138,247 | 56,007 | 53,575 | 72,798 | 8,437 | (840 | ) | 328,224 | ||||||||||||||
Costs and Expenses: | |||||||||||||||||||||
Operating | 93,755 | 45,047 | 28,018 | 56,429 | 9,464 | (807 | ) | 231,906 | |||||||||||||
Administrative and general | 13,426 | 3,835 | 5,421 | 594 | 3,449 | 7,961 | 34,686 | ||||||||||||||
Depreciation and amortization | 16,448 | 7,564 | 7,115 | 1,010 | 82 | 1,001 | 33,220 | ||||||||||||||
123,629 | 56,446 | 40,554 | 58,033 | 12,995 | 8,155 | 299,812 | |||||||||||||||
Gains (Losses) on Asset Dispositions | 3,526 | 810 | (41 | ) | — | — | — | 4,295 | |||||||||||||
Operating Income (Loss) | 18,144 | 371 | 12,980 | 14,765 | (4,558 | ) | (8,995 | ) | 32,707 | ||||||||||||
Other Income (Expense): | |||||||||||||||||||||
Derivative gains (losses), net | (70 | ) | — | — | (1,519 | ) | 1,500 | 183 | 94 | ||||||||||||
Foreign currency (gains) losses, net | 1,322 | 474 | 1 | — | 53 | (130 | ) | 1,720 | |||||||||||||
Other, net | 14,739 | — | 158 | 300 | (5,013 | ) | 29 | 10,213 | |||||||||||||
Equity in Earnings (Losses) of 50% or Less Owned Companies, Net of Tax | 2,244 | (3,335 | ) | 1,564 | — | (985 | ) | — | (512 | ) | |||||||||||
Segment Profit (Loss) | 36,379 | (2,490 | ) | 14,703 | 13,546 | (9,003 | ) | ||||||||||||||
Other Income (Expense) not included in Segment Profit (Loss) | (3,697 | ) | |||||||||||||||||||
Less Equity Losses included in Segment Profit (Loss) | 512 | ||||||||||||||||||||
Income Before Taxes and Equity Earnings | 41,037 | ||||||||||||||||||||
Offshore | Inland | Shipping | ICP(1)(2) | Other | Corporate | Total | |||||||||||||||
Marine | River | Services | $’000 | $’000 | and | $’000 | |||||||||||||||
Services | Services | $’000 | Eliminations | ||||||||||||||||||
$’000 | $’000 | $’000 | |||||||||||||||||||
For the six months ended | |||||||||||||||||||||
30-Jun-14 | |||||||||||||||||||||
Operating Revenues: | |||||||||||||||||||||
External customers | 267,171 | 112,211 | 105,976 | 131,454 | 21,429 | — | 638,241 | ||||||||||||||
Intersegment | 77 | 1,755 | — | — | — | (1,832 | ) | — | |||||||||||||
267,248 | 113,966 | 105,976 | 131,454 | 21,429 | (1,832 | ) | 638,241 | ||||||||||||||
Costs and Expenses: | |||||||||||||||||||||
Operating | 187,798 | 84,721 | 55,015 | 103,703 | 21,400 | (1,755 | ) | 450,882 | |||||||||||||
Administrative and general | 28,586 | 8,172 | 11,317 | 1,105 | 6,560 | 17,023 | 72,763 | ||||||||||||||
Depreciation and amortization | 32,752 | 14,934 | 14,869 | 2,000 | 167 | 1,890 | 66,612 | ||||||||||||||
249,136 | 107,827 | 81,201 | 106,808 | 28,127 | 17,158 | 590,257 | |||||||||||||||
Gains (Losses) on Asset Dispositions | 11,264 | 1,663 | (41 | ) | — | (409 | ) | (3,504 | ) | 8,973 | |||||||||||
and Impairments, Net | |||||||||||||||||||||
Operating Income (Loss) | 29,376 | 7,802 | 24,734 | 24,646 | (7,107 | ) | (22,494 | ) | 56,957 | ||||||||||||
Other Income (Expense): | |||||||||||||||||||||
Derivative gains (losses), net | (131 | ) | — | — | (801 | ) | 767 | 22 | (143 | ) | |||||||||||
Foreign currency gains (losses), net | 1,429 | 147 | (9 | ) | — | 62 | (108 | ) | 1,521 | ||||||||||||
Other, net | 14,739 | (38 | ) | (3,775 | ) | 493 | (4,838 | ) | (23 | ) | 6,558 | ||||||||||
Equity in Earnings (Losses) of 50% or Less Owned Companies, Net of Tax | 4,885 | (3,747 | ) | 2,317 | — | (1,746 | ) | — | 1,709 | ||||||||||||
Segment Profit (Loss) | 50,298 | 4,164 | 23,267 | 24,338 | (12,862 | ) | |||||||||||||||
Other Income (Expense) not included in Segment Profit (Loss) | (5,987 | ) | |||||||||||||||||||
Less Equity Earnings included in Segment Profit (Loss) | (1,709 | ) | |||||||||||||||||||
Income Before Taxes and Equity Earnings | 58,906 | ||||||||||||||||||||
Capital Expenditures | 46,621 | 44,086 | 165,160 | 2,098 | 123 | 15,581 | 273,669 | ||||||||||||||
As of June 30, 2014 | |||||||||||||||||||||
Property and Equipment: | |||||||||||||||||||||
Historical cost | 1,154,174 | 519,586 | 451,123 | 44,808 | 3,760 | 43,176 | 2,216,627 | ||||||||||||||
Accumulated depreciation | (499,092 | ) | (161,091 | ) | (200,908 | ) | (13,369 | ) | (769 | ) | (13,213 | ) | (888,442 | ) | |||||||
655,082 | 358,495 | 250,215 | 31,439 | 2,991 | 29,963 | 1,328,185 | |||||||||||||||
Construction in progress | 91,824 | 32,175 | 171,204 | 2,156 | 224 | (60 | ) | 297,523 | |||||||||||||
746,906 | 390,670 | 421,419 | 33,595 | 3,215 | 29,903 | 1,625,708 | |||||||||||||||
Investments, at Equity, and Advances to 50% or Less Owned Companies | 129,775 | 61,653 | 205,110 | — | 87,626 | — | 484,164 | ||||||||||||||
Inventories | 5,571 | 2,309 | 1,438 | 9,926 | 963 | — | 20,207 | ||||||||||||||
Goodwill | 13,367 | 2,793 | 1,852 | — | — | — | 18,012 | ||||||||||||||
Intangible Assets | 2,784 | 7,085 | 575 | — | 310 | — | 10,754 | ||||||||||||||
Other current and long-term assets, excluding cash and near cash assets(3) | 154,188 | 55,819 | 19,816 | 13,559 | 49,232 | 18,642 | 311,256 | ||||||||||||||
Segment Assets | 1,052,591 | 520,329 | 650,210 | 57,080 | 141,346 | ||||||||||||||||
Cash and near cash assets(3) | 825,892 | ||||||||||||||||||||
Total Assets | 3,295,993 | ||||||||||||||||||||
______________________ | |||||||||||||||||||||
-1 | Operating revenues includes $126.1 million of tangible product sales and operating expenses includes $98.2 million of costs of goods sold. | ||||||||||||||||||||
-2 | Inventories includes raw materials of $2.2 million and work in process of $1.3 million. | ||||||||||||||||||||
-3 | Cash and near cash assets includes cash, cash equivalents, restricted cash, marketable securities, construction reserve funds and Title XI reserve funds. | ||||||||||||||||||||
Offshore | Inland | Shipping | ICP | Other | Corporate | Total | |||||||||||||||
Marine | River | Services | $’000 | $’000 | and | $’000 | |||||||||||||||
Services | Services | $’000 | Eliminations | ||||||||||||||||||
$’000 | $’000 | $’000 | |||||||||||||||||||
For the three months ended | |||||||||||||||||||||
June 30, 2013 | |||||||||||||||||||||
Operating Revenues: | |||||||||||||||||||||
External customers | 138,650 | 46,780 | 48,103 | 61,378 | 20,652 | — | 315,563 | ||||||||||||||
Intersegment | 28 | 577 | — | — | — | (605 | ) | — | |||||||||||||
138,678 | 47,357 | 48,103 | 61,378 | 20,652 | (605 | ) | 315,563 | ||||||||||||||
Costs and Expenses: | |||||||||||||||||||||
Operating | 97,581 | 35,193 | 29,554 | 59,402 | 18,960 | (577 | ) | 240,113 | |||||||||||||
Administrative and general | 14,235 | 3,921 | 6,124 | 477 | 1,323 | 8,638 | 34,718 | ||||||||||||||
Depreciation and amortization | 16,460 | 7,078 | 7,907 | 1,489 | 96 | 753 | 33,783 | ||||||||||||||
128,276 | 46,192 | 43,585 | 61,368 | 20,379 | 8,814 | 308,614 | |||||||||||||||
Gains on Asset Dispositions | 7,895 | 4,296 | 114 | — | — | — | 12,305 | ||||||||||||||
Operating Income (Loss) | 18,297 | 5,461 | 4,632 | 10 | 273 | (9,419 | ) | 19,254 | |||||||||||||
Other Income (Expense): | |||||||||||||||||||||
Derivative gains (losses), net | 175 | — | — | 473 | (450 | ) | (1,023 | ) | (825 | ) | |||||||||||
Foreign currency gains (losses), net | (833 | ) | 219 | (8 | ) | — | (169 | ) | (125 | ) | (916 | ) | |||||||||
Other, net | 11 | — | 188 | — | — | (4 | ) | 195 | |||||||||||||
Equity in Earnings (Losses) of 50% or Less Owned Companies, Net of Tax | 7,694 | 1 | (403 | ) | — | 418 | — | 7,710 | |||||||||||||
Segment Profit | 25,344 | 5,681 | 4,409 | 483 | 72 | ||||||||||||||||
Other Income (Expense) not included in Segment Profit | 1,853 | ||||||||||||||||||||
Less Equity Earnings included in Segment Profit | (7,710 | ) | |||||||||||||||||||
Income Before Taxes and Equity Earnings | 19,561 | ||||||||||||||||||||
Offshore | Inland | Shipping | ICP(1)(2) | Other | Corporate | Total | |||||||||||||||
Marine | River | Services | $’000 | $’000 | and | $’000 | |||||||||||||||
Services | Services | $’000 | Eliminations | ||||||||||||||||||
$’000 | $’000 | $’000 | |||||||||||||||||||
For the six months ended | |||||||||||||||||||||
30-Jun-13 | |||||||||||||||||||||
Operating Revenues: | |||||||||||||||||||||
External customers | 262,642 | 96,203 | 94,579 | 94,227 | 34,976 | — | 582,627 | ||||||||||||||
Intersegment | 52 | 1,231 | — | — | — | (1,283 | ) | — | |||||||||||||
262,694 | 97,434 | 94,579 | 94,227 | 34,976 | (1,283 | ) | 582,627 | ||||||||||||||
Costs and Expenses: | |||||||||||||||||||||
Operating | 187,612 | 71,582 | 56,168 | 93,447 | 33,448 | (1,231 | ) | 441,026 | |||||||||||||
Administrative and general | 29,062 | 7,945 | 11,301 | 1,138 | 2,979 | 17,938 | 70,363 | ||||||||||||||
Depreciation and amortization | 32,747 | 14,162 | 15,704 | 2,978 | 195 | 1,545 | 67,331 | ||||||||||||||
249,421 | 93,689 | 83,173 | 97,563 | 36,622 | 18,252 | 578,720 | |||||||||||||||
Gains (Losses) on Asset Dispositions and Impairments, Net | 10,234 | 4,993 | (2,955 | ) | — | 1,907 | 141 | 14,320 | |||||||||||||
Operating Income (Loss) | 23,507 | 8,738 | 8,451 | (3,336 | ) | 261 | (19,394 | ) | 18,227 | ||||||||||||
Other Income (Expense): | |||||||||||||||||||||
Derivative gains (losses), net | 325 | — | — | 512 | 392 | (4,161 | ) | (2,932 | ) | ||||||||||||
Foreign currency gains (losses), net | (4,097 | ) | 82 | (15 | ) | — | (336 | ) | (561 | ) | (4,927 | ) | |||||||||
Other, net | 11 | — | 202 | — | 54 | (69 | ) | 198 | |||||||||||||
Equity in Earnings (Losses) of 50% or Less Owned Companies, Net of Tax | 9,007 | (2,386 | ) | (1,908 | ) | — | 2,128 | — | 6,841 | ||||||||||||
Segment Profit (Loss) | 28,753 | 6,434 | 6,730 | (2,824 | ) | 2,499 | |||||||||||||||
Other Income (Expense) not included in Segment Profit (Loss) | (3,825 | ) | |||||||||||||||||||
Less Equity Earnings included in Segment Profit (Loss) | (6,841 | ) | |||||||||||||||||||
Loss Before Taxes, Equity Earnings and Discontinued Operations | 6,741 | ||||||||||||||||||||
Capital Expenditures | 49,764 | 9,238 | 27,048 | 217 | 357 | 1,307 | 87,931 | ||||||||||||||
As of June 30, 2013 | |||||||||||||||||||||
Property and Equipment: | |||||||||||||||||||||
Historical cost | 1,151,751 | 466,553 | 517,409 | 44,006 | 3,989 | 29,221 | 2,212,929 | ||||||||||||||
Accumulated depreciation | (439,211 | ) | (134,235 | ) | (214,372 | ) | (8,614 | ) | (531 | ) | (9,709 | ) | (806,672 | ) | |||||||
712,540 | 332,318 | 303,037 | 35,392 | 3,458 | 19,512 | 1,406,257 | |||||||||||||||
Construction in progress | 90,847 | 17,700 | 22,037 | — | 2,087 | 1,314 | 133,985 | ||||||||||||||
803,387 | 350,018 | 325,074 | 35,392 | 5,545 | 20,826 | 1,540,242 | |||||||||||||||
Investments, at Equity, and Advances to 50% or Less Owned Companies | 84,418 | 55,875 | 66,786 | — | 86,714 | — | 293,793 | ||||||||||||||
Inventories | 5,885 | 2,260 | 1,427 | 12,164 | 1,219 | — | 22,955 | ||||||||||||||
Goodwill | 13,367 | 2,759 | 1,852 | — | — | — | 17,978 | ||||||||||||||
Intangible Assets | 4,584 | 8,416 | 1,134 | 50 | 410 | — | 14,594 | ||||||||||||||
Other current and long-term assets, excluding cash and near cash assets(3) | 146,551 | 37,260 | 16,021 | 10,925 | 56,591 | 22,225 | 289,573 | ||||||||||||||
Segment Assets | 1,058,192 | 456,588 | 412,294 | 58,531 | 150,479 | ||||||||||||||||
Cash and near cash assets(3) | 589,198 | ||||||||||||||||||||
Discontinued operations | — | ||||||||||||||||||||
Total Assets | 2,768,333 | ||||||||||||||||||||
______________________ | |||||||||||||||||||||
-1 | Operating revenues includes $90.2 million of tangible product sales and operating expenses includes $89.4 million of costs of goods sold. | ||||||||||||||||||||
-2 | Inventories includes raw materials of $2.8 million and work in process of $2.2 million. | ||||||||||||||||||||
-3 | Cash and near cash assets includes cash, cash equivalents, restricted cash, marketable securities, construction reserve funds and Title XI reserve funds. |
Basis_of_Presentation_and_Acco3
Basis of Presentation and Accounting Policy Accumulated Other Comprehensive Income (Details) (USD $) | 3 Months Ended | 6 Months Ended | 6 Months Ended | 6 Months Ended | 6 Months Ended | 6 Months Ended | 6 Months Ended | |||||||||||||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 | Dec. 31, 2012 |
Accumulated Translation Adjustment [Member] | Accumulated Translation Adjustment [Member] | Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member] | Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member] | Other Postretirement Benefit Plans, Defined Benefit [Member] | Other Postretirement Benefit Plans, Defined Benefit [Member] | Non-Controlling Interests In Subsidiaries [Member] | Non-Controlling Interests In Subsidiaries [Member] | Non-Controlling Interests In Subsidiaries [Member] | Non-Controlling Interests In Subsidiaries [Member] | Non-Controlling Interests In Subsidiaries [Member] | Offshore Marine Services [Member] | Offshore Marine Services [Member] | Offshore Marine Services [Member] | Offshore Marine Services [Member] | ||||||
Accumulated Translation Adjustment [Member] | Accumulated Translation Adjustment [Member] | Other Postretirement Benefit Plans, Defined Benefit [Member] | Other Postretirement Benefit Plans, Defined Benefit [Member] | |||||||||||||||||
Deferred Revenue | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $6,794 | $6,592 | $6,592 | $6,592 |
Accumulated Other Comprehensive Income (Loss), Net of Tax | 225 | ' | 225 | ' | -1,192 | 365 | -927 | -132 | -257 | -8 | -8 | ' | 634 | 395 | -5 | -5 | ' | ' | ' | ' |
Other Comprehensive Income (Loss), before Tax, Portion Attributable to Parent | ' | ' | 2,180 | ' | ' | 1,988 | ' | 192 | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other Comprehensive Income (Loss), before Tax, Portion Attributable to Noncontrolling Interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 239 | ' | 0 | ' | ' | ' | ' | ' |
Other Comprehensive Income (Loss), before Tax | 1,967 | 142 | 2,419 | -3,840 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other Comprehensive Income (Loss), Tax, Portion Attributable to Parent | ' | ' | -763 | ' | ' | -696 | ' | -67 | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other Comprehensive Income (Loss), Tax, Portion Attributable to Noncontrolling Interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | 0 | ' | ' | ' | ' | ' |
Other Comprehensive Income (Loss), Tax | 621 | 41 | 763 | -1,186 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other Comprehensive Income (Loss), Net of Tax | $1,346 | $101 | $1,656 | ($2,654) | ' | ' | ' | ' | ' | ' | ' | ($239) | ' | ' | ' | ' | ' | ' | ' | ' |
Basis_of_Presentation_and_Acco4
Basis of Presentation and Accounting Policy Deferred Revenue (Details) (Offshore Marine Services [Member], USD $) | 6 Months Ended | |||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 |
Offshore Marine Services [Member] | ' | ' | ' | ' |
Deferred Revenue | $6,794 | $6,592 | $6,592 | $6,592 |
Deferred Revenue, Additions | $202 | $0 | ' | ' |
Fair_Value_Measurements_Financ
Fair Value Measurements (Financial Assets And Liabilities Measured At Fair Value On Recurring Basis) (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' |
Marketable security gains (losses), net include losses | $700,000 | $6,500,000 | $5,700,000 | $10,500,000 |
Fair Value, Inputs, Level 1 [Member] | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' |
Marketable securities | 33,275,000 | ' | 33,275,000 | ' |
Derivative instruments (included in other receivables) | 2,012,000 | ' | 2,012,000 | ' |
Construction reserve funds and Title XI reserve funds | 324,856,000 | ' | 324,856,000 | ' |
Short sales of marketable securities | 10,061,000 | ' | 10,061,000 | ' |
Derivative instruments (included in other current liabilities) | 2,043,000 | ' | 2,043,000 | ' |
Fair Value, Inputs, Level 2 [Member] | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' |
Marketable securities | 0 | ' | 0 | ' |
Derivative instruments (included in other receivables) | 4,442,000 | ' | 4,442,000 | ' |
Construction reserve funds and Title XI reserve funds | 0 | ' | 0 | ' |
Short sales of marketable securities | 0 | ' | 0 | ' |
Derivative instruments (included in other current liabilities) | 1,016,000 | ' | 1,016,000 | ' |
Fair Value, Inputs, Level 3 [Member] | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' |
Marketable securities | 0 | ' | 0 | ' |
Derivative instruments (included in other receivables) | 0 | ' | 0 | ' |
Construction reserve funds and Title XI reserve funds | 0 | ' | 0 | ' |
Short sales of marketable securities | 0 | ' | 0 | ' |
Derivative instruments (included in other current liabilities) | $0 | ' | $0 | ' |
Fair_Value_Measurements_Estima
Fair Value Measurements (Estimated Fair Value Of Other Financial Assets And Liabilities) (Details) (USD $) | Jun. 30, 2014 |
In Thousands, unless otherwise specified | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' |
Cash, cash equivalents and restricted cash, Carrying Amount | $467,761 |
Investments, at cost, in 50% or less owned companies (included in other assets), Carrying Amount | 9,331 |
Notes receivable from other business ventures (included in other receivables and other assets) | 20,228 |
Long-term debt, including current portion, Carrying Amount | 873,860 |
Fair Value, Inputs, Level 1 [Member] | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' |
Cash and Cash Equivalents, Fair Value Disclosure | 467,761 |
Debt Instrument, Fair Value Disclosure | 0 |
Fair Value, Inputs, Level 2 [Member] | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' |
Cash and Cash Equivalents, Fair Value Disclosure | 0 |
Debt Instrument, Fair Value Disclosure | 1,055,228 |
Fair Value, Inputs, Level 3 [Member] | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' |
Cash and Cash Equivalents, Fair Value Disclosure | 0 |
Debt Instrument, Fair Value Disclosure | $0 |
Two Point Five Percentage Convertible Notes [Member] | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' |
Debt Instrument, Interest Rate, Stated Percentage | 2.50% |
Three Point Zero Percentage Convertible Notes [Member] | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' |
Debt Instrument, Interest Rate, Stated Percentage | 3.00% |
Fair_Value_Measurements_NonFin
Fair Value Measurements (Non-Financial Assets And Liabilities Measured At Fair Value) (Details) (USD $) | 6 Months Ended |
Jun. 30, 2014 | |
Fair Value, Inputs, Level 1 [Member] | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' |
Assets Held-for-sale, Long Lived | $0 |
Fair Value, Inputs, Level 2 [Member] | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' |
Assets Held-for-sale, Long Lived | 11,700,000 |
Fair Value, Inputs, Level 3 [Member] | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' |
Assets Held-for-sale, Long Lived | 0 |
Aircraft [Domain] | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' |
Asset Impairment Charges | $3,900,000 |
Derivative_Instruments_And_Hed2
Derivative Instruments And Hedging Strategies (Fair Values Of Derivative Instruments) (Details) (Not Designated as Hedging Instrument [Member], USD $) | Jun. 30, 2014 |
In Thousands, unless otherwise specified | |
Derivative [Line Items] | ' |
Derivative Asset, Fair Value, Gross Asset | $6,454 |
Derivative Liability | 3,059 |
Foreign Exchange [Member] | ' |
Derivative [Line Items] | ' |
Derivative Asset, Fair Value, Gross Asset | 92 |
Derivative Liability | 60 |
Interest Rate Swap Agreements [Member] | ' |
Derivative [Line Items] | ' |
Derivative Asset, Fair Value, Gross Asset | 0 |
Derivative Liability | 998 |
Commodity Contract [Member] | ' |
Derivative [Line Items] | ' |
Derivative Asset, Fair Value, Gross Asset | 2,012 |
Derivative Liability | 1,983 |
Commodity Swap, Option And Future Contracts, Non-Exchange Traded [Member] | ' |
Derivative [Line Items] | ' |
Derivative Asset, Fair Value, Gross Asset | 4,350 |
Derivative Liability | $18 |
Derivative_Instruments_And_Hed3
Derivative Instruments And Hedging Strategies (Narrative) (Details) (Cash Flow Hedging [Member], USD $) | Jun. 30, 2014 |
In Millions, unless otherwise specified | |
Sea Cat Crewzer [Member] | ' |
Derivative [Line Items] | ' |
Fixed interest rate | 1.48% |
Derivative, Notional Amount | $16.10 |
SCFCo Holdings [Member] | ' |
Derivative [Line Items] | ' |
Fixed interest rate range, minimum | 1.53% |
Fixed interest rate range, maximum | 1.62% |
Derivative, Notional Amount | 18.8 |
Seajon [Member] | ' |
Derivative [Line Items] | ' |
Fixed interest rate | 2.79% |
Derivative, Notional Amount | $36.20 |
Derivative_Instruments_And_Hed4
Derivative Instruments And Hedging Strategies (Recognized Gains (Losses) On Derivative Instruments Not Designated As Hedging Instruments) (Details) (USD $) | 6 Months Ended | |
Jun. 30, 2014 | Jun. 30, 2013 | |
Derivative [Line Items] | ' | ' |
Derivative gains (losses), net | ($143,000) | ($2,932,000) |
Options On Equities And Equity Indices [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Derivative gains (losses), net | 22,000 | -3,012,000 |
Forward Currency Exchange, Option And Future Contracts [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Derivative gains (losses), net | 187,000 | -592,000 |
Interest Rate Swap Agreements [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Derivative gains (losses), net | -135,000 | 237,000 |
Commodity Contract [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Derivative gains (losses), net | 950,000 | -821,000 |
Commodity Swap, Option And Future Contracts, Non-Exchange Traded [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Derivative gains (losses), net | -1,167,000 | 1,256,000 |
Not Designated as Hedging Instrument [Member] | Forward Currency Exchange, Option And Future Contracts [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Derivative, Notional Amount | 4,700,000 | ' |
Not Designated as Hedging Instrument [Member] | Interest Rate Swap Agreements [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Derivative, Lower Fixed Interest Rate Range | 3.00% | ' |
Derivative, Higher Fixed Interest Rate Range | 3.05% | ' |
Derivative, Notional Amount | 34,500,000 | ' |
Not Designated as Hedging Instrument [Member] | Dynamic Offshore Drilling Ltd [Member] | Interest Rate Swap Agreements [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Derivative, Fixed Interest Rate | 1.30% | ' |
Derivative, Notional Amount | 98,300,000 | ' |
Not Designated as Hedging Instrument [Member] | OSV Partners [Member] | Interest Rate Swap Agreements [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Derivative, Lower Fixed Interest Rate Range | 1.89% | ' |
Derivative, Higher Fixed Interest Rate Range | 2.27% | ' |
Derivative, Notional Amount | 24,900,000 | ' |
Not Designated as Hedging Instrument [Member] | Dorian LPG [Member] | Interest Rate Swap Agreements [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Derivative, Lower Fixed Interest Rate Range | 2.96% | ' |
Derivative, Higher Fixed Interest Rate Range | 5.40% | ' |
Derivative, Notional Amount | $126,000,000 | ' |
Business_Acquisitions_Narrativ
Business Acquisitions (Narrative) (Details) (USD $) | 12 Months Ended | 3 Months Ended | |||
In Millions, unless otherwise specified | Dec. 31, 2013 | Jun. 06, 2013 | Jun. 06, 2013 | Sep. 30, 2014 | Jul. 11, 2014 |
C Lift L L C [Member] | C Lift L L C [Member] | C Lift L L C [Member] | Subsequent Event [Member] | Subsequent Event [Member] | |
Liftboats [Member] | Witt O'Brien's LLC [Member] | Witt O'Brien's LLC [Member] | |||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' |
Business Acquisition, Percentage of Voting Interests Acquired | ' | 50.00% | ' | ' | 45.80% |
Payments to Acquire Businesses, Gross | $13.30 | ' | ' | $35.40 | ' |
Number Of Equipments Acquired | ' | ' | 2 | ' | ' |
Equipment_Acquisitions_Disposi2
Equipment Acquisitions, Dispositions and Depreciation and Impairment Policies (Deferred Gain Activity) (Details) (USD $) | 6 Months Ended | |
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 |
Equipment Acquisitions, Dispositions And Depreciation And Impairment Policies [Abstract] | ' | ' |
Document Period End Date | 30-Jun-14 | ' |
Movement in Deferred Gain Activity [Roll Forward] | ' | ' |
Deferred Gains at Beginning of Period | $124,763 | $111,514 |
Deferred Gains on Asset Sales | 40,400 | 2,289 |
Amortization Of Deferred Gains Included in Operating Expenses As A Reduction To Rental Expense | -7,155 | -5,192 |
Amortization Of Deferred Gains Included In Gains On Asset Dispositions And Impairments, Net | -2,656 | -1,431 |
Deferred Gains at End of Period | $155,397 | $107,180 |
Equipment_Acquisitions_Disposi3
Equipment Acquisitions, Dispositions and Depreciation and Impairment Policies (Useful Life) (Details) | 6 Months Ended | |
Jun. 30, 2014 | ||
Offshore Support Vessels [Member] | ' | |
Property, Plant and Equipment [Line Items] | ' | |
Estimated useful life (in years) | '20 years | |
Wind Farm Utility Vessel [Member] | ' | |
Property, Plant and Equipment [Line Items] | ' | |
Estimated useful life (in years) | '10 years | |
Inland River Dry Cargo And Deck Barges [Member] | ' | |
Property, Plant and Equipment [Line Items] | ' | |
Estimated useful life (in years) | '20 years | |
Inland River Liquid Tank Barges [Member] | ' | |
Property, Plant and Equipment [Line Items] | ' | |
Estimated useful life (in years) | '25 years | |
Inland River Towboats [Member] | ' | |
Property, Plant and Equipment [Line Items] | ' | |
Estimated useful life (in years) | '25 years | |
U.S.-flag Product Tankers [Member] | ' | |
Property, Plant and Equipment [Line Items] | ' | |
Estimated useful life (in years) | '25 years | |
R O R O Vessels [Member] | ' | |
Property, Plant and Equipment [Line Items] | ' | |
Estimated useful life (in years) | '20 years | [1] |
Harbor Tugs [Member] | ' | |
Property, Plant and Equipment [Line Items] | ' | |
Estimated useful life (in years) | '25 years | |
Ocean Liquid Tank Barge [Member] | ' | |
Property, Plant and Equipment [Line Items] | ' | |
Estimated useful life (in years) | '25 years | |
Terminal And Manufacturing Facilities [Member] | ' | |
Property, Plant and Equipment [Line Items] | ' | |
Estimated useful life (in years) | '20 years | |
[1] | Roll on/Roll off ("RORO"). |
Equipment_Acquisitions_Disposi4
Equipment Acquisitions, Dispositions and Depreciation and Impairment Policies (Narrative) (Details) (USD $) | 6 Months Ended | 12 Months Ended | 6 Months Ended | 12 Months Ended | 6 Months Ended | 12 Months Ended | 6 Months Ended | 12 Months Ended | 6 Months Ended | 12 Months Ended | 6 Months Ended | |||||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | |
U.S.-flag Product Tankers [Member] | U.S.-flag Product Tankers [Member] | Offshore Support Vessels Crew [Member] | Offshore Support Vessels Crew [Member] | Offshore Support Vessels Supply [Member] | Offshore Support Vessels Supply [Member] | Wind Farm Utility Vessel [Member] | Wind Farm Utility Vessel [Member] | Inland River Dry Cargo And Deck Barges [Member] | Inland River Towboat [Member] | R O R O Vessels [Member] | Aircraft [Domain] | Gains on Asset Dispositions and Impariments, Net [Member] | Deposits [Member] | |||
equipment | equipment | equipment | equipment | equipment | equipment | equipment | equipment | equipment | equipment | equipment | ||||||
Property, Plant and Equipment [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Document Period End Date | 30-Jun-14 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payments to Acquire Property, Plant, and Equipment | $273,669,000 | $87,931,000 | $148,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unrecorded Unconditional Purchase Obligation, Maximum Quantity | ' | ' | 3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number Of Equipments Delivered | ' | ' | ' | ' | 2 | ' | 1 | ' | 1 | ' | 65 | 1 | ' | ' | ' | ' |
Number Of Equipments Sold | ' | ' | ' | 1 | ' | 5 | ' | 3 | ' | 1 | ' | ' | 1 | ' | ' | ' |
Sales Price Of Equipment | 100,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from Sale of Property, Plant and Equipment, Excluding Deposits on Future Equipment Sales | 75,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from Issuance of Secured Debt | 25,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from disposition of property and equipment | 78,039,000 | 125,432,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,700,000 |
Gain (Loss) on Disposition of Property Plant Equipment | 50,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10,200,000 | ' |
Deferred Gains on Asset Sales | 40,400,000 | 2,289,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amortization Of Deferred Gains Included In Gains On Asset Dispositions And Impairments, Net | -2,656,000 | -1,431,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,700,000 | ' |
Asset Impairment Charges | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $3,900,000 | ' | ' |
Investments_At_Equity_And_Adva1
Investments, At Equity, And Advances To 50% Or Less Owned Companies (Narrative) (Details) (USD $) | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jul. 15, 2014 | Sep. 30, 2014 | Jul. 11, 2014 |
In Millions, unless otherwise specified | Mexmar [Member] | OSV Partners [Member] | SCFCo Holdings [Member] | Seajon [Member] | Avion Pacific Limited [Member] | Witt O'Brien's LLC [Member] | Cleancor [Member] | Other Inland River Joint Ventures [Member] | Other Offshore Marine Services Joint Ventures [Member] | Other Corporate Joint Ventures [Member] | Subsequent Event [Member] | Witt O'Brien's LLC [Member] | Witt O'Brien's LLC [Member] | |
Subsequent Event [Member] | Subsequent Event [Member] | |||||||||||||
Schedule Of Equity Method Investments [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number Of Equipments Delivered | ' | 0 | 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds From Property And Equipment Sales To Fifty Percent Or Less Owned Companies | ' | $32 | $13.50 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payments to Acquire Machinery and Equipment | ' | 6.4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Secured Debt | ' | 25.6 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Secured Debt, Repayments | ' | 2.6 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Partners' Capital Account, Contributions | ' | ' | 1.6 | 12.2 | 1.3 | ' | ' | 4.8 | ' | ' | 0.2 | ' | ' | ' |
Outstanding Working Capital Advances At End Of Period | ' | ' | ' | 3.7 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Repayment of Notes Receivable from Related Parties | ' | ' | ' | ' | ' | 4 | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from Dividends Received | ' | ' | ' | ' | ' | ' | 0.8 | ' | ' | ' | ' | ' | ' | ' |
Business Acquisition, Percentage of Voting Interests Acquired | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 45.80% |
Payments to Acquire Businesses, Gross | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 35.4 | ' |
Proceeds from Equity Method Investment, Dividends or Distributions, Return of Capital | ' | ' | ' | ' | ' | ' | ' | ' | 2.1 | ' | ' | ' | ' | ' |
Payments for Advance to Affiliate | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.7 | 0.3 | ' | ' | ' |
Guarantor Obligations, Maximum Exposure, Undiscounted | 15.3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 19 | ' | ' |
Allocable Share of Uncalled Capital | $2.40 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Commitments_And_Contingencies_
Commitments And Contingencies (Narrative) (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2010 | Dec. 31, 2010 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2010 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 |
Wunstell Action [Member] | Master Complaints [Member] | Multi-district Litigation [Member] | Darnell Alexander [Member] | Darnell Alexander [Member] | Abney Litigation [Member] | Abood Litigation [Member] | HEPACO Litigation [Member] | Prejean [Member] | Offshore Support Vessels [Member] | Inland River Liquid Tank Barges [Member] | Inland River Towboats [Member] | U.S.-flag Product Tankers [Member] | U.S. Flag Articulated Tug-Barge [Member] | Other Machinery and Equipment [Member] | Offshore Marine Services [Member] | ||
plaintiff | plaintiff | claim | claim | claim | claim | claim | equipment | equipment | equipment | equipment | equipment | ||||||
Loss Contingencies [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total unfunded capital commitments | $412,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | $86,500,000 | $1,100,000 | $4,600,000 | $230,200,000 | $78,400,000 | $12,000,000 | ' |
Unrecorded Unconditional Purchase Obligation, Due in Remainder of Fiscal Year | 99,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unrecorded Unconditional Purchase Obligation, Due within Two Years | 303,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unrecorded Unconditional Purchase Obligation, Due within Three Years | 9,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unrecorded Unconditional Purchase Obligation, Maximum Quantity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 13 | 2 | 4 | 3 | 1 | ' | ' |
Claims Filed | ' | 2 | 1 | 10 | 410 | 117 | 668 | 174 | ' | 330 | ' | ' | ' | ' | ' | ' | ' |
Loss Contingency, Damages Sought, Value | ' | ' | ' | ' | ' | ' | ' | ' | 20,291,178.92 | ' | ' | ' | ' | ' | ' | ' | ' |
Other Nonoperating Gains (Losses) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $14,700,000 |
Multiemployer_Pension_Plans_De
Multiemployer Pension Plans (Details) (American Maritime Officers Pension Plan [Member], USD $) | Sep. 30, 2013 |
In Millions, unless otherwise specified | |
American Maritime Officers Pension Plan [Member] | ' |
Defined Benefit Plan Disclosure [Line Items] | ' |
Pension and other postretirement benefit plans, withdrawal liability | $46.50 |
LongTerm_Debt_Details
Long-Term Debt (Details) (USD $) | 6 Months Ended | |
Jun. 30, 2014 | Jun. 30, 2013 | |
Debt Instrument [Line Items] | ' | ' |
Letters of Credit Outstanding, Amount | $18,200,000 | ' |
Repayments of Debt and Capital Lease Obligations | 7,200,000 | ' |
Net borrowings (repayments) on inventory financing arrangements | $6,294,000 | ($2,365,000) |
Seven Point Three Seven Five Percentage Senior Notes Due Two Thousand Nineteen Member | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage | 7.38% | ' |
Stock_Repurchases_Details
Stock Repurchases (Details) (USD $) | 6 Months Ended | 3 Months Ended | |
In Millions, except Share data, unless otherwise specified | Jun. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 |
Subsequent Event [Member] | |||
Common Stock, Par or Stated Value Per Share | $0.01 | $0.01 | ' |
Treasury Stock, Shares, Acquired | 493,032 | ' | 321,377 |
Treasury Stock, Value, Acquired, Cost Method | $39.20 | ' | $25.40 |
Stock Repurchase Program, Remaining Authorized Repurchase Amount | $60.80 | ' | $150 |
Noncontrolling_Interests_in_Su2
Noncontrolling Interests in Subsidiaries (Details) (USD $) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 | |
Noncontrolling Interests in Subsidiaries [Line Items] | ' | ' | ' | ' | ' |
Noncontrolling interests in subsidiaries | $101,699,000 | $24,576,000 | $101,699,000 | $24,576,000 | $24,576,000 |
Net Income (Loss) | 27,525,000 | 19,296,000 | 41,240,000 | -2,065,000 | ' |
Net Income (Loss) Attributable to Noncontrolling Interest | 6,458,000 | 25,000 | 8,664,000 | -348,000 | ' |
Noncontrolling Interest, Increase from Subsidiary Equity Issuance | ' | ' | 145,690,000 | ' | ' |
Noncontrolling Interest, Decrease from Redemptions or Purchase of Interests | ' | ' | -3,110,000 | ' | ' |
Windcat Workboats Ltd. [Member] | ' | ' | ' | ' | ' |
Noncontrolling Interests in Subsidiaries [Line Items] | ' | ' | ' | ' | ' |
Assets, Net | 31,000,000 | ' | 31,000,000 | ' | ' |
Net Income (Loss) | ' | ' | -100,000 | -2,700,000 | ' |
Net Income (Loss) Attributable to Noncontrolling Interest | ' | ' | ' | -700,000 | ' |
Sea-Vista [Member] | ' | ' | ' | ' | ' |
Noncontrolling Interests in Subsidiaries [Line Items] | ' | ' | ' | ' | ' |
Assets, Net | 148,700,000 | ' | 148,700,000 | ' | ' |
Net Income (Loss) | ' | ' | 4,100,000 | ' | ' |
Net Income (Loss) Attributable to Noncontrolling Interest | 2,000,000 | ' | ' | ' | ' |
Illinois Corn Processing LLC [Member] | ' | ' | ' | ' | ' |
Noncontrolling Interests in Subsidiaries [Line Items] | ' | ' | ' | ' | ' |
Noncontrolling interests in subsidiaries | ' | 10,894,000 | ' | 10,894,000 | ' |
Assets, Net | 62,500,000 | ' | 62,500,000 | ' | ' |
Net Income (Loss) | ' | ' | 23,800,000 | -3,500,000 | ' |
Net Income (Loss) Attributable to Noncontrolling Interest | 6,000,000 | ' | ' | -1,300,000 | ' |
Offshore Marine Services [Member] | Windcat Workboats Ltd. [Member] | ' | ' | ' | ' | ' |
Noncontrolling Interests in Subsidiaries [Line Items] | ' | ' | ' | ' | ' |
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners | 25.00% | ' | 25.00% | ' | ' |
Noncontrolling interests in subsidiaries | 7,761,000 | 7,541,000 | 7,761,000 | 7,541,000 | ' |
Offshore Marine Services [Member] | Other Offshore Marine Services Noncontrolling Interests [Member] | ' | ' | ' | ' | ' |
Noncontrolling Interests in Subsidiaries [Line Items] | ' | ' | ' | ' | ' |
Noncontrolling interests in subsidiaries | 1,233,000 | 1,600,000 | 1,233,000 | 1,600,000 | ' |
Inland River Services [Member] | ' | ' | ' | ' | ' |
Noncontrolling Interests in Subsidiaries [Line Items] | ' | ' | ' | ' | ' |
Noncontrolling Interest, Decrease from Redemptions or Purchase of Interests | ' | ' | 3,100,000 | ' | ' |
Payments for Repurchase of Redeemable Noncontrolling Interest | ' | ' | 2,100,000 | ' | ' |
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders | ' | ' | 1,000,000 | ' | ' |
Inland River Services [Member] | Other Inland River Services Noncontrolling Interests [Member] | ' | ' | ' | ' | ' |
Noncontrolling Interests in Subsidiaries [Line Items] | ' | ' | ' | ' | ' |
Noncontrolling interests in subsidiaries | 1,204,000 | 2,612,000 | 1,204,000 | 2,612,000 | ' |
Shipping Services [Member] | Sea-Vista [Member] | ' | ' | ' | ' | ' |
Noncontrolling Interests in Subsidiaries [Line Items] | ' | ' | ' | ' | ' |
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners | 49.00% | ' | 49.00% | ' | ' |
Noncontrolling interests in subsidiaries | 72,886,000 | 0 | 72,886,000 | 0 | ' |
Noncontrolling Interest, Increase from Subsidiary Equity Issuance | ' | ' | 145,700,000 | ' | ' |
Payments of Stock Issuance Costs | ' | ' | 3,200,000 | ' | ' |
Illinois Corn Processing LLC [Member] | Illinois Corn Processing LLC [Member] | ' | ' | ' | ' | ' |
Noncontrolling Interests in Subsidiaries [Line Items] | ' | ' | ' | ' | ' |
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners | 30.00% | ' | 30.00% | ' | ' |
Noncontrolling interests in subsidiaries | 16,864,000 | ' | 16,864,000 | ' | ' |
Other Segments [Member] | Other Noncontrolling Interests [Member] | ' | ' | ' | ' | ' |
Noncontrolling Interests in Subsidiaries [Line Items] | ' | ' | ' | ' | ' |
Noncontrolling interests in subsidiaries | $1,751,000 | $1,929,000 | $1,751,000 | $1,929,000 | ' |
Minimum [Member] | Offshore Marine Services [Member] | Other Offshore Marine Services Noncontrolling Interests [Member] | ' | ' | ' | ' | ' |
Noncontrolling Interests in Subsidiaries [Line Items] | ' | ' | ' | ' | ' |
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners | 1.80% | ' | 1.80% | ' | ' |
Minimum [Member] | Inland River Services [Member] | Other Inland River Services Noncontrolling Interests [Member] | ' | ' | ' | ' | ' |
Noncontrolling Interests in Subsidiaries [Line Items] | ' | ' | ' | ' | ' |
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners | 3.00% | ' | 3.00% | ' | ' |
Minimum [Member] | Other Segments [Member] | Other Noncontrolling Interests [Member] | ' | ' | ' | ' | ' |
Noncontrolling Interests in Subsidiaries [Line Items] | ' | ' | ' | ' | ' |
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners | 5.00% | ' | 5.00% | ' | ' |
Maximum [Member] | Offshore Marine Services [Member] | Other Offshore Marine Services Noncontrolling Interests [Member] | ' | ' | ' | ' | ' |
Noncontrolling Interests in Subsidiaries [Line Items] | ' | ' | ' | ' | ' |
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners | 33.30% | ' | 33.30% | ' | ' |
Maximum [Member] | Inland River Services [Member] | Other Inland River Services Noncontrolling Interests [Member] | ' | ' | ' | ' | ' |
Noncontrolling Interests in Subsidiaries [Line Items] | ' | ' | ' | ' | ' |
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners | 51.80% | ' | 51.80% | ' | ' |
Maximum [Member] | Other Segments [Member] | Other Noncontrolling Interests [Member] | ' | ' | ' | ' | ' |
Noncontrolling Interests in Subsidiaries [Line Items] | ' | ' | ' | ' | ' |
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners | 18.90% | ' | 18.90% | ' | ' |
U.S.-flag Product Tankers [Member] | ' | ' | ' | ' | ' |
Noncontrolling Interests in Subsidiaries [Line Items] | ' | ' | ' | ' | ' |
Unrecorded Unconditional Purchase Obligation, Maximum Quantity | 3 | ' | 3 | ' | ' |
U.S.-flag Product Tankers [Member] | Shipping Services [Member] | Sea-Vista [Member] | ' | ' | ' | ' | ' |
Noncontrolling Interests in Subsidiaries [Line Items] | ' | ' | ' | ' | ' |
Unrecorded Unconditional Purchase Obligation, Maximum Quantity | 3 | ' | 3 | ' | ' |
Earnings_Per_Common_Share_of_S2
Earnings Per Common Share of SEACOR (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Weighted Average Number of Shares Outstanding Reconciliation [Abstract] | ' | ' | ' | ' |
Net Income (Loss) attributable to SEACOR Holdings Inc. | $21,067 | $19,271 | $32,576 | ($1,717) |
Net Income (Loss) Available to Common Stockholders, Diluted | 24,215 | 22,315 | 38,863 | -1,717 |
Weighted Average Number of Shares Outstanding, Basic | 19,989,402 | 19,825,229 | 20,049,056 | 19,782,318 |
Incremental Common Shares Attributable to Share-based Payment Arrangements | 394,567 | 366,558 | 416,288 | 332,586 |
Incremental Common Shares Attributable to Conversion of Debt Securities | 4,200,525 | 4,200,525 | 4,200,525 | 0 |
Weighted Average Number of Shares Outstanding, Diluted | 24,584,494 | 24,392,312 | 24,665,869 | 20,114,904 |
Earnings Per Share, Basic | $1.05 | $0.97 | $1.62 | ($0.09) |
Earnings Per Share, Diluted | $0.98 | $0.91 | $1.58 | ($0.09) |
Outstanding Stock Awards [Member] | ' | ' | ' | ' |
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items] | ' | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 365,398 | 355,490 | 288,510 | 503,726 |
Two Point Five Percentage Convertible Notes [Member] | ' | ' | ' | ' |
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items] | ' | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | ' | ' | ' | 4,200,525 |
Three Point Zero Percentage Convertible Notes [Member] | ' | ' | ' | ' |
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items] | ' | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | ' | ' | 1,825,326 | ' |
Equity Securities [Member] | ' | ' | ' | ' |
Weighted Average Number of Shares Outstanding Reconciliation [Abstract] | ' | ' | ' | ' |
Dilutive Securities, Effect on Basic Earnings Per Share | 0 | 0 | 0 | 0 |
Convertible Debt Securities [Member] | ' | ' | ' | ' |
Weighted Average Number of Shares Outstanding Reconciliation [Abstract] | ' | ' | ' | ' |
Dilutive Securities, Effect on Basic Earnings Per Share | $3,148 | $3,044 | $6,287 | $0 |
Share_Based_Compensation_Share
Share Based Compensation (Share Based Compensation Plans) (Details) | 6 Months Ended |
In Thousands, unless otherwise specified | Jun. 30, 2014 |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' |
Director stock awards granted | 1,250 |
Employee Stock Purchase Plan shares issued | 16,720 |
Restricted stock awards granted | 147,645 |
Restricted stock awards forfeited | 1,000 |
Shares released from Deferred Compensation Plan | 0 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward] | ' |
Stock Options, Outstanding as of December 31, 2013 | 1,481,280 |
Stock Option, Granted | 106,925 |
Stock Option, Exercised | 90,144 |
Stock Options, Outstanding as of June 30, 2014 | 1,498,061 |
Shares available for future grants and ESPP purchases as of June 30, 2014 | 1,236,955 |
Segment_Information_Operating_
Segment Information (Operating Results, Capital Expenditures And Assets By Reportable Segments) (Details) (USD $) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 | |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Derivative gains (losses) on cash flow hedges | $50,000 | $331,000 | ' | ' | ' |
Operating Revenues | 328,224,000 | 315,563,000 | 638,241,000 | 582,627,000 | ' |
Costs and Expenses [Abstract] | ' | ' | ' | ' | ' |
Administrative and general | 34,686,000 | 34,718,000 | 72,763,000 | 70,363,000 | ' |
Depreciation and amortization | 33,220,000 | 33,783,000 | 66,612,000 | 67,331,000 | ' |
Total costs and expenses | 299,812,000 | 308,614,000 | 590,257,000 | 578,720,000 | ' |
Gain (Loss) on Sale of Assets and Asset Impairment Charges | 4,295,000 | 12,305,000 | 8,973,000 | 14,320,000 | ' |
Operating Income (Loss) | 32,707,000 | 19,254,000 | 56,957,000 | 18,227,000 | ' |
Other Income and Expenses [Abstract] | ' | ' | ' | ' | ' |
Derivative gains (losses), net | 94,000 | -825,000 | -143,000 | -2,932,000 | ' |
Foreign currency gains (losses), net | 1,720,000 | -916,000 | 1,521,000 | -4,927,000 | ' |
Other Nonoperating Income (Expense) | 10,213,000 | 195,000 | 6,558,000 | 198,000 | ' |
Equity in Earnings (Losses) of 50% or Less Owned Companies, Net of Tax | -512,000 | 7,710,000 | 1,709,000 | 6,841,000 | ' |
Income from Continuing Operations Before Income Tax Expense and Equity in Earnings of 50% or Less Owned Companies | 41,037,000 | 19,561,000 | 58,906,000 | 6,741,000 | ' |
Capital Expenditures | ' | ' | 273,669,000 | 87,931,000 | ' |
Property, Plant and Equipment, Gross | 2,216,627,000 | ' | 2,216,627,000 | ' | 2,199,183,000 |
Accumulated depreciation | 888,442,000 | ' | 888,442,000 | ' | 866,330,000 |
Property, Plant and Equipment, Net In Service | 1,328,185,000 | ' | 1,328,185,000 | ' | 1,332,853,000 |
Construction in Progress, Gross | 297,523,000 | ' | 297,523,000 | ' | 143,482,000 |
Net property and equipment | 1,625,708,000 | ' | 1,625,708,000 | ' | 1,476,335,000 |
Inventories | 20,207,000 | ' | 20,207,000 | ' | 27,615,000 |
Goodwill | 18,012,000 | ' | 18,012,000 | ' | 17,985,000 |
Intangible Assets, Net | 10,754,000 | ' | 10,754,000 | ' | 12,423,000 |
Total assets | 3,295,993,000 | 2,768,333,000 | 3,295,993,000 | 2,768,333,000 | 3,116,233,000 |
Offshore Marine Services [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Operating Revenues | 138,214,000 | 138,650,000 | 267,171,000 | 262,642,000 | ' |
Inland River Services [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Operating Revenues | 55,200,000 | 46,780,000 | 112,211,000 | 96,203,000 | ' |
Shipping Services [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Operating Revenues | 53,575,000 | 48,103,000 | 105,976,000 | 94,579,000 | ' |
Ethanol and Industrial Alcohol [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Operating Revenues | 72,798,000 | 61,378,000 | ' | ' | ' |
Illinois Corn Processing LLC [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Operating Revenues | ' | ' | 131,454,000 | 94,227,000 | ' |
Other Income and Expenses [Abstract] | ' | ' | ' | ' | ' |
Sales Revenue, Goods, Net | ' | ' | 126,100,000 | 90,200,000 | ' |
Cost of Goods Sold | ' | ' | 98,200,000 | 89,400,000 | ' |
Inventory, Raw Materials | 2,200,000 | 2,800,000 | 2,200,000 | 2,800,000 | ' |
Inventory, Work in Process | 1,300,000 | 2,200,000 | 1,300,000 | 2,200,000 | ' |
Other Segments [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Operating Revenues | 8,437,000 | 20,652,000 | 21,429,000 | 34,976,000 | ' |
Corporate And Eliminations [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Operating Revenues | 0 | 0 | 0 | 0 | ' |
Operating Segments [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Operating Revenues | 328,224,000 | 315,563,000 | 638,241,000 | 582,627,000 | ' |
Costs and Expenses [Abstract] | ' | ' | ' | ' | ' |
Operating Expenses | 231,906,000 | 240,113,000 | 450,882,000 | 441,026,000 | ' |
Administrative and general | 34,686,000 | 34,718,000 | 72,763,000 | 70,363,000 | ' |
Depreciation and amortization | 33,220,000 | 33,783,000 | 66,612,000 | 67,331,000 | ' |
Total costs and expenses | 299,812,000 | 308,614,000 | 590,257,000 | 578,720,000 | ' |
Gain (Loss) on Sale of Assets and Asset Impairment Charges | 4,295,000 | 12,305,000 | 8,973,000 | 14,320,000 | ' |
Operating Income (Loss) | 32,707,000 | 19,254,000 | 56,957,000 | 18,227,000 | ' |
Other Income and Expenses [Abstract] | ' | ' | ' | ' | ' |
Derivative gains (losses), net | 94,000 | -825,000 | -143,000 | -2,932,000 | ' |
Foreign currency gains (losses), net | 1,720,000 | -916,000 | 1,521,000 | -4,927,000 | ' |
Other Nonoperating Income (Expense) | 10,213,000 | 195,000 | 6,558,000 | 198,000 | ' |
Equity in Earnings (Losses) of 50% or Less Owned Companies, Net of Tax | -512,000 | 7,710,000 | 1,709,000 | 6,841,000 | ' |
Capital Expenditures | ' | ' | 273,669,000 | 87,931,000 | ' |
Property, Plant and Equipment, Gross | 2,216,627,000 | 2,212,929,000 | 2,216,627,000 | 2,212,929,000 | ' |
Accumulated depreciation | 888,442,000 | 806,672,000 | 888,442,000 | 806,672,000 | ' |
Property, Plant and Equipment, Net In Service | 1,328,185,000 | 1,406,257,000 | 1,328,185,000 | 1,406,257,000 | ' |
Construction in Progress, Gross | 297,523,000 | 133,985,000 | 297,523,000 | 133,985,000 | ' |
Net property and equipment | 1,625,708,000 | 1,540,242,000 | 1,625,708,000 | 1,540,242,000 | ' |
Investments, at Equity, and Advances to 50% or Less Owned Companies | 484,164,000 | 293,793,000 | 484,164,000 | 293,793,000 | ' |
Inventories | 20,207,000 | 22,955,000 | 20,207,000 | 22,955,000 | ' |
Goodwill | 18,012,000 | 17,978,000 | 18,012,000 | 17,978,000 | ' |
Intangible Assets, Net | 10,754,000 | 14,594,000 | 10,754,000 | 14,594,000 | ' |
Other Current And Long-Term Assets, Excluding Cash And Near Cash Assets | 311,256,000 | 289,573,000 | 311,256,000 | 289,573,000 | ' |
Operating Segments [Member] | Offshore Marine Services [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Operating Revenues | 138,247,000 | 138,678,000 | 267,248,000 | 262,694,000 | ' |
Costs and Expenses [Abstract] | ' | ' | ' | ' | ' |
Operating Expenses | 93,755,000 | 97,581,000 | 187,798,000 | 187,612,000 | ' |
Administrative and general | 13,426,000 | 14,235,000 | 28,586,000 | 29,062,000 | ' |
Depreciation and amortization | 16,448,000 | 16,460,000 | 32,752,000 | 32,747,000 | ' |
Total costs and expenses | 123,629,000 | 128,276,000 | 249,136,000 | 249,421,000 | ' |
Gain (Loss) on Sale of Assets and Asset Impairment Charges | 3,526,000 | 7,895,000 | 11,264,000 | 10,234,000 | ' |
Operating Income (Loss) | 18,144,000 | 18,297,000 | 29,376,000 | 23,507,000 | ' |
Other Income and Expenses [Abstract] | ' | ' | ' | ' | ' |
Derivative gains (losses), net | -70,000 | 175,000 | -131,000 | 325,000 | ' |
Foreign currency gains (losses), net | 1,322,000 | -833,000 | 1,429,000 | -4,097,000 | ' |
Other Nonoperating Income (Expense) | 14,739,000 | 11,000 | 14,739,000 | 11,000 | ' |
Equity in Earnings (Losses) of 50% or Less Owned Companies, Net of Tax | 2,244,000 | 7,694,000 | 4,885,000 | 9,007,000 | ' |
Segment Profit (Loss) | 36,379,000 | 25,344,000 | 50,298,000 | 28,753,000 | ' |
Capital Expenditures | ' | ' | 46,621,000 | 49,764,000 | ' |
Property, Plant and Equipment, Gross | 1,154,174,000 | 1,151,751,000 | 1,154,174,000 | 1,151,751,000 | ' |
Accumulated depreciation | 499,092,000 | 439,211,000 | 499,092,000 | 439,211,000 | ' |
Property, Plant and Equipment, Net In Service | 655,082,000 | 712,540,000 | 655,082,000 | 712,540,000 | ' |
Construction in Progress, Gross | 91,824,000 | 90,847,000 | 91,824,000 | 90,847,000 | ' |
Net property and equipment | 746,906,000 | 803,387,000 | 746,906,000 | 803,387,000 | ' |
Investments, at Equity, and Advances to 50% or Less Owned Companies | 129,775,000 | 84,418,000 | 129,775,000 | 84,418,000 | ' |
Inventories | 5,571,000 | 5,885,000 | 5,571,000 | 5,885,000 | ' |
Goodwill | 13,367,000 | 13,367,000 | 13,367,000 | 13,367,000 | ' |
Intangible Assets, Net | 2,784,000 | 4,584,000 | 2,784,000 | 4,584,000 | ' |
Other Current And Long-Term Assets, Excluding Cash And Near Cash Assets | 154,188,000 | 146,551,000 | 154,188,000 | 146,551,000 | ' |
Total assets | 1,052,591,000 | 1,058,192,000 | 1,052,591,000 | 1,058,192,000 | ' |
Operating Segments [Member] | Inland River Services [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Operating Revenues | 56,007,000 | 47,357,000 | 113,966,000 | 97,434,000 | ' |
Costs and Expenses [Abstract] | ' | ' | ' | ' | ' |
Operating Expenses | 45,047,000 | 35,193,000 | 84,721,000 | 71,582,000 | ' |
Administrative and general | 3,835,000 | 3,921,000 | 8,172,000 | 7,945,000 | ' |
Depreciation and amortization | 7,564,000 | 7,078,000 | 14,934,000 | 14,162,000 | ' |
Total costs and expenses | 56,446,000 | 46,192,000 | 107,827,000 | 93,689,000 | ' |
Gain (Loss) on Sale of Assets and Asset Impairment Charges | 810,000 | 4,296,000 | 1,663,000 | 4,993,000 | ' |
Operating Income (Loss) | 371,000 | 5,461,000 | 7,802,000 | 8,738,000 | ' |
Other Income and Expenses [Abstract] | ' | ' | ' | ' | ' |
Derivative gains (losses), net | 0 | 0 | 0 | 0 | ' |
Foreign currency gains (losses), net | 474,000 | 219,000 | 147,000 | 82,000 | ' |
Other Nonoperating Income (Expense) | 0 | 0 | -38,000 | 0 | ' |
Equity in Earnings (Losses) of 50% or Less Owned Companies, Net of Tax | -3,335,000 | 1,000 | -3,747,000 | -2,386,000 | ' |
Segment Profit (Loss) | -2,490,000 | 5,681,000 | 4,164,000 | 6,434,000 | ' |
Capital Expenditures | ' | ' | 44,086,000 | 9,238,000 | ' |
Property, Plant and Equipment, Gross | 519,586,000 | 466,553,000 | 519,586,000 | 466,553,000 | ' |
Accumulated depreciation | 161,091,000 | 134,235,000 | 161,091,000 | 134,235,000 | ' |
Property, Plant and Equipment, Net In Service | 358,495,000 | 332,318,000 | 358,495,000 | 332,318,000 | ' |
Construction in Progress, Gross | 32,175,000 | 17,700,000 | 32,175,000 | 17,700,000 | ' |
Net property and equipment | 390,670,000 | 350,018,000 | 390,670,000 | 350,018,000 | ' |
Investments, at Equity, and Advances to 50% or Less Owned Companies | 61,653,000 | 55,875,000 | 61,653,000 | 55,875,000 | ' |
Inventories | 2,309,000 | 2,260,000 | 2,309,000 | 2,260,000 | ' |
Goodwill | 2,793,000 | 2,759,000 | 2,793,000 | 2,759,000 | ' |
Intangible Assets, Net | 7,085,000 | 8,416,000 | 7,085,000 | 8,416,000 | ' |
Other Current And Long-Term Assets, Excluding Cash And Near Cash Assets | 55,819,000 | 37,260,000 | 55,819,000 | 37,260,000 | ' |
Total assets | 520,329,000 | 456,588,000 | 520,329,000 | 456,588,000 | ' |
Operating Segments [Member] | Shipping Services [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Operating Revenues | 53,575,000 | 48,103,000 | 105,976,000 | 94,579,000 | ' |
Costs and Expenses [Abstract] | ' | ' | ' | ' | ' |
Operating Expenses | 28,018,000 | 29,554,000 | 55,015,000 | 56,168,000 | ' |
Administrative and general | 5,421,000 | 6,124,000 | 11,317,000 | 11,301,000 | ' |
Depreciation and amortization | 7,115,000 | 7,907,000 | 14,869,000 | 15,704,000 | ' |
Total costs and expenses | 40,554,000 | 43,585,000 | 81,201,000 | 83,173,000 | ' |
Gain (Loss) on Sale of Assets and Asset Impairment Charges | -41,000 | 114,000 | -41,000 | -2,955,000 | ' |
Operating Income (Loss) | 12,980,000 | 4,632,000 | 24,734,000 | 8,451,000 | ' |
Other Income and Expenses [Abstract] | ' | ' | ' | ' | ' |
Derivative gains (losses), net | 0 | 0 | 0 | 0 | ' |
Foreign currency gains (losses), net | 1,000 | -8,000 | -9,000 | -15,000 | ' |
Other Nonoperating Income (Expense) | 158,000 | 188,000 | -3,775,000 | 202,000 | ' |
Equity in Earnings (Losses) of 50% or Less Owned Companies, Net of Tax | 1,564,000 | -403,000 | 2,317,000 | -1,908,000 | ' |
Segment Profit (Loss) | 14,703,000 | 4,409,000 | 23,267,000 | 6,730,000 | ' |
Capital Expenditures | ' | ' | 165,160,000 | 27,048,000 | ' |
Property, Plant and Equipment, Gross | 451,123,000 | 517,409,000 | 451,123,000 | 517,409,000 | ' |
Accumulated depreciation | 200,908,000 | 214,372,000 | 200,908,000 | 214,372,000 | ' |
Property, Plant and Equipment, Net In Service | 250,215,000 | 303,037,000 | 250,215,000 | 303,037,000 | ' |
Construction in Progress, Gross | 171,204,000 | 22,037,000 | 171,204,000 | 22,037,000 | ' |
Net property and equipment | 421,419,000 | 325,074,000 | 421,419,000 | 325,074,000 | ' |
Investments, at Equity, and Advances to 50% or Less Owned Companies | 205,110,000 | 66,786,000 | 205,110,000 | 66,786,000 | ' |
Inventories | 1,438,000 | 1,427,000 | 1,438,000 | 1,427,000 | ' |
Goodwill | 1,852,000 | 1,852,000 | 1,852,000 | 1,852,000 | ' |
Intangible Assets, Net | 575,000 | 1,134,000 | 575,000 | 1,134,000 | ' |
Other Current And Long-Term Assets, Excluding Cash And Near Cash Assets | 19,816,000 | 16,021,000 | 19,816,000 | 16,021,000 | ' |
Total assets | 650,210,000 | 412,294,000 | 650,210,000 | 412,294,000 | ' |
Operating Segments [Member] | Ethanol and Industrial Alcohol [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Operating Revenues | 72,798,000 | 61,378,000 | ' | ' | ' |
Costs and Expenses [Abstract] | ' | ' | ' | ' | ' |
Operating Expenses | 56,429,000 | 59,402,000 | ' | ' | ' |
Administrative and general | 594,000 | 477,000 | ' | ' | ' |
Depreciation and amortization | 1,010,000 | 1,489,000 | ' | ' | ' |
Total costs and expenses | 58,033,000 | 61,368,000 | ' | ' | ' |
Gain (Loss) on Sale of Assets and Asset Impairment Charges | 0 | 0 | ' | ' | ' |
Operating Income (Loss) | 14,765,000 | 10,000 | ' | ' | ' |
Other Income and Expenses [Abstract] | ' | ' | ' | ' | ' |
Derivative gains (losses), net | -1,519,000 | 473,000 | ' | ' | ' |
Foreign currency gains (losses), net | 0 | 0 | ' | ' | ' |
Other Nonoperating Income (Expense) | 300,000 | 0 | ' | ' | ' |
Equity in Earnings (Losses) of 50% or Less Owned Companies, Net of Tax | 0 | 0 | ' | ' | ' |
Segment Profit (Loss) | 13,546,000 | 483,000 | ' | ' | ' |
Operating Segments [Member] | Illinois Corn Processing LLC [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Operating Revenues | ' | ' | 131,454,000 | 94,227,000 | ' |
Costs and Expenses [Abstract] | ' | ' | ' | ' | ' |
Operating Expenses | ' | ' | 103,703,000 | 93,447,000 | ' |
Administrative and general | ' | ' | 1,105,000 | 1,138,000 | ' |
Depreciation and amortization | ' | ' | 2,000,000 | 2,978,000 | ' |
Total costs and expenses | ' | ' | 106,808,000 | 97,563,000 | ' |
Gain (Loss) on Sale of Assets and Asset Impairment Charges | ' | ' | 0 | 0 | ' |
Operating Income (Loss) | ' | ' | 24,646,000 | -3,336,000 | ' |
Other Income and Expenses [Abstract] | ' | ' | ' | ' | ' |
Derivative gains (losses), net | ' | ' | -801,000 | 512,000 | ' |
Foreign currency gains (losses), net | ' | ' | 0 | 0 | ' |
Other Nonoperating Income (Expense) | ' | ' | 493,000 | 0 | ' |
Equity in Earnings (Losses) of 50% or Less Owned Companies, Net of Tax | ' | ' | 0 | 0 | ' |
Segment Profit (Loss) | ' | ' | 24,338,000 | -2,824,000 | ' |
Capital Expenditures | ' | ' | 2,098,000 | 217,000 | ' |
Property, Plant and Equipment, Gross | 44,808,000 | 44,006,000 | 44,808,000 | 44,006,000 | ' |
Accumulated depreciation | 13,369,000 | 8,614,000 | 13,369,000 | 8,614,000 | ' |
Property, Plant and Equipment, Net In Service | 31,439,000 | 35,392,000 | 31,439,000 | 35,392,000 | ' |
Construction in Progress, Gross | 2,156,000 | 0 | 2,156,000 | 0 | ' |
Net property and equipment | 33,595,000 | 35,392,000 | 33,595,000 | 35,392,000 | ' |
Investments, at Equity, and Advances to 50% or Less Owned Companies | 0 | 0 | 0 | 0 | ' |
Inventories | 9,926,000 | 12,164,000 | 9,926,000 | 12,164,000 | ' |
Goodwill | 0 | 0 | 0 | 0 | ' |
Intangible Assets, Net | 0 | 50,000 | 0 | 50,000 | ' |
Other Current And Long-Term Assets, Excluding Cash And Near Cash Assets | 13,559,000 | 10,925,000 | 13,559,000 | 10,925,000 | ' |
Total assets | 57,080,000 | 58,531,000 | 57,080,000 | 58,531,000 | ' |
Operating Segments [Member] | Other Segments [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Operating Revenues | 8,437,000 | 20,652,000 | 21,429,000 | 34,976,000 | ' |
Costs and Expenses [Abstract] | ' | ' | ' | ' | ' |
Operating Expenses | 9,464,000 | 18,960,000 | 21,400,000 | 33,448,000 | ' |
Administrative and general | 3,449,000 | 1,323,000 | 6,560,000 | 2,979,000 | ' |
Depreciation and amortization | 82,000 | 96,000 | 167,000 | 195,000 | ' |
Total costs and expenses | 12,995,000 | 20,379,000 | 28,127,000 | 36,622,000 | ' |
Gain (Loss) on Sale of Assets and Asset Impairment Charges | 0 | 0 | -409,000 | 1,907,000 | ' |
Operating Income (Loss) | -4,558,000 | 273,000 | -7,107,000 | 261,000 | ' |
Other Income and Expenses [Abstract] | ' | ' | ' | ' | ' |
Derivative gains (losses), net | 1,500,000 | -450,000 | 767,000 | 392,000 | ' |
Foreign currency gains (losses), net | 53,000 | -169,000 | 62,000 | -336,000 | ' |
Other Nonoperating Income (Expense) | -5,013,000 | 0 | -4,838,000 | 54,000 | ' |
Equity in Earnings (Losses) of 50% or Less Owned Companies, Net of Tax | -985,000 | 418,000 | -1,746,000 | 2,128,000 | ' |
Segment Profit (Loss) | -9,003,000 | 72,000 | -12,862,000 | 2,499,000 | ' |
Capital Expenditures | ' | ' | 123,000 | 357,000 | ' |
Property, Plant and Equipment, Gross | 3,760,000 | 3,989,000 | 3,760,000 | 3,989,000 | ' |
Accumulated depreciation | 769,000 | 531,000 | 769,000 | 531,000 | ' |
Property, Plant and Equipment, Net In Service | 2,991,000 | 3,458,000 | 2,991,000 | 3,458,000 | ' |
Construction in Progress, Gross | 224,000 | 2,087,000 | 224,000 | 2,087,000 | ' |
Net property and equipment | 3,215,000 | 5,545,000 | 3,215,000 | 5,545,000 | ' |
Investments, at Equity, and Advances to 50% or Less Owned Companies | 87,626,000 | 86,714,000 | 87,626,000 | 86,714,000 | ' |
Inventories | 963,000 | 1,219,000 | 963,000 | 1,219,000 | ' |
Goodwill | 0 | 0 | 0 | 0 | ' |
Intangible Assets, Net | 310,000 | 410,000 | 310,000 | 410,000 | ' |
Other Current And Long-Term Assets, Excluding Cash And Near Cash Assets | 49,232,000 | 56,591,000 | 49,232,000 | 56,591,000 | ' |
Total assets | 141,346,000 | 150,479,000 | 141,346,000 | 150,479,000 | ' |
Operating Segments [Member] | Corporate And Eliminations [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Operating Revenues | -840,000 | -605,000 | -1,832,000 | -1,283,000 | ' |
Costs and Expenses [Abstract] | ' | ' | ' | ' | ' |
Operating Expenses | -807,000 | -577,000 | -1,755,000 | -1,231,000 | ' |
Administrative and general | 7,961,000 | 8,638,000 | 17,023,000 | 17,938,000 | ' |
Depreciation and amortization | 1,001,000 | 753,000 | 1,890,000 | 1,545,000 | ' |
Total costs and expenses | 8,155,000 | 8,814,000 | 17,158,000 | 18,252,000 | ' |
Gain (Loss) on Sale of Assets and Asset Impairment Charges | 0 | 0 | -3,504,000 | 141,000 | ' |
Operating Income (Loss) | -8,995,000 | -9,419,000 | -22,494,000 | -19,394,000 | ' |
Other Income and Expenses [Abstract] | ' | ' | ' | ' | ' |
Derivative gains (losses), net | 183,000 | -1,023,000 | 22,000 | -4,161,000 | ' |
Foreign currency gains (losses), net | -130,000 | -125,000 | -108,000 | -561,000 | ' |
Other Nonoperating Income (Expense) | 29,000 | -4,000 | -23,000 | -69,000 | ' |
Equity in Earnings (Losses) of 50% or Less Owned Companies, Net of Tax | 0 | 0 | 0 | 0 | ' |
Capital Expenditures | ' | ' | ' | 1,307,000 | ' |
Property, Plant and Equipment, Gross | 43,176,000 | 29,221,000 | 43,176,000 | 29,221,000 | ' |
Accumulated depreciation | 13,213,000 | 9,709,000 | 13,213,000 | 9,709,000 | ' |
Property, Plant and Equipment, Net In Service | 29,963,000 | 19,512,000 | 29,963,000 | 19,512,000 | ' |
Construction in Progress, Gross | ' | 1,314,000 | ' | 1,314,000 | ' |
Net property and equipment | 29,903,000 | 20,826,000 | 29,903,000 | 20,826,000 | ' |
Investments, at Equity, and Advances to 50% or Less Owned Companies | 0 | 0 | 0 | 0 | ' |
Inventories | 0 | 0 | 0 | 0 | ' |
Goodwill | 0 | 0 | 0 | 0 | ' |
Intangible Assets, Net | 0 | 0 | 0 | 0 | ' |
Other Current And Long-Term Assets, Excluding Cash And Near Cash Assets | 18,642,000 | 22,225,000 | 18,642,000 | 22,225,000 | ' |
Intersegment Eliminations [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Operating Revenues | 0 | 0 | 0 | 0 | ' |
Intersegment Eliminations [Member] | Offshore Marine Services [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Operating Revenues | -33,000 | 28,000 | -77,000 | 52,000 | ' |
Intersegment Eliminations [Member] | Inland River Services [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Operating Revenues | -807,000 | 577,000 | -1,755,000 | 1,231,000 | ' |
Intersegment Eliminations [Member] | Shipping Services [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Operating Revenues | 0 | 0 | 0 | 0 | ' |
Intersegment Eliminations [Member] | Ethanol and Industrial Alcohol [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Operating Revenues | 0 | 0 | ' | ' | ' |
Intersegment Eliminations [Member] | Illinois Corn Processing LLC [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Operating Revenues | ' | ' | 0 | 0 | ' |
Intersegment Eliminations [Member] | Other Segments [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Operating Revenues | 0 | 0 | 0 | 0 | ' |
Intersegment Eliminations [Member] | Corporate And Eliminations [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Operating Revenues | 840,000 | -605,000 | 1,832,000 | -1,283,000 | ' |
Segment Reconciling Items [Member] | ' | ' | ' | ' | ' |
Other Income and Expenses [Abstract] | ' | ' | ' | ' | ' |
Other Income (Expense) not included in Segment Profit | 3,697,000 | -1,853,000 | 5,987,000 | 3,825,000 | ' |
Less Equity Earnings (Loss) included in Segment Profit | 512,000 | -7,710,000 | -1,709,000 | -6,841,000 | ' |
Cash And Near Cash Assets | 825,892,000 | 589,198,000 | 825,892,000 | 589,198,000 | ' |
Assets of Disposal Group, Including Discontinued Operation | ' | 0 | ' | 0 | ' |
Interest Rate Swap Agreements [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Derivative gains (losses) on cash flow hedges | ' | ' | ($23,000) | $380,000 | ' |
Discontinued_Operations_Detail
Discontinued Operations (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Operating Revenues | $328,224 | $315,563 | $638,241 | $582,627 |
Administrative and general | 34,686 | 34,718 | 72,763 | 70,363 |
Depreciation and amortization | 33,220 | 33,783 | 66,612 | 67,331 |
Total costs and expenses | 299,812 | 308,614 | 590,257 | 578,720 |
Gain (Loss) on Sale of Assets and Asset Impairment Charges | 4,295 | 12,305 | 8,973 | 14,320 |
Operating Income (Loss) | 32,707 | 19,254 | 56,957 | 18,227 |
Nonoperating Income (Expense) | 8,330 | 307 | 1,949 | -11,486 |
Income Tax Expense (Benefit) | -13,000 | -7,975 | -19,375 | -5,322 |
Equity in Earnings (Losses) of 50% or Less Owned Companies, Net of Tax | -512 | 7,710 | 1,709 | 6,841 |
Net Income (Loss) | 27,525 | 19,296 | 41,240 | -2,065 |
SES Business [Member] | ' | ' | ' | ' |
Nonoperating Income (Expense) | ' | ' | ' | -1,537 |
Income Tax Expense (Benefit) | ' | ' | ' | 538 |
Net Income (Loss) | ' | ' | ' | -999 |
SEI [Member] | ' | ' | ' | ' |
Nonoperating Income (Expense) | ' | ' | ' | -143 |
Income Tax Expense (Benefit) | ' | ' | ' | 50 |
Net Income (Loss) | ' | ' | ' | -93 |
Era Group [Member] | ' | ' | ' | ' |
Operating Revenues | ' | ' | ' | 22,892 |
Operating Expenses | ' | ' | ' | 14,076 |
Administrative and general | ' | ' | ' | 2,653 |
Depreciation and amortization | ' | ' | ' | 3,875 |
Total costs and expenses | ' | ' | ' | 20,604 |
Gain (Loss) on Sale of Assets and Asset Impairment Charges | ' | ' | ' | 548 |
Operating Income (Loss) | ' | ' | ' | 2,836 |
Nonoperating Income (Expense) | ' | ' | ' | -1,316 |
Income Tax Expense (Benefit) | ' | ' | ' | -10,818 |
Equity in Earnings (Losses) of 50% or Less Owned Companies, Net of Tax | ' | ' | ' | 65 |
Net Income (Loss) | ' | ' | ' | ($9,233) |