Document_And_Entity_Informatio
Document And Entity Information (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Feb. 24, 2015 | Jun. 30, 2013 | |
Document And Entity Information [Abstract] | |||
Document Type | 10-K | ||
Amendment Flag | FALSE | ||
Document Period End Date | 31-Dec-14 | ||
Document Fiscal Year Focus | 2014 | ||
Document Fiscal Period Focus | FY | ||
Entity Registrant Name | SEACOR HOLDINGS INC /NEW/ | ||
Entity Central Index Key | 859598 | ||
Current Fiscal Year End Date | -19 | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Filer Category | Accelerated Filer | ||
Entity Common Stock, Shares Outstanding | 18,144,251 | ||
Entity Public Float | $1,533,203,744 |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Current Assets: | ||
Cash and cash equivalents | $434,183 | $527,435 |
Restricted cash | 16,435 | 12,175 |
Marketable securities | 58,004 | 24,292 |
Receivables: | ||
Trade, net of allowance for doubtful accounts of $3,162 and $1,162 in 2014 and 2013, respectively | 225,242 | 215,768 |
Other | 67,745 | 48,181 |
Inventories | 22,783 | 27,615 |
Deferred income taxes | 0 | 116 |
Prepaid expenses and other | 9,011 | 6,701 |
Total current assets | 833,403 | 862,283 |
Property and Equipment: | ||
Historical cost | 2,086,957 | 2,199,183 |
Accumulated depreciation | 902,284 | 866,330 |
Property, Plant and Equipment, Net In Service | 1,184,673 | 1,332,853 |
Construction in progress | 318,000 | 143,482 |
Net property and equipment | 1,502,673 | 1,476,335 |
Investments, at Equity, and Advances to 50% or Less Owned Companies | 484,157 | 440,853 |
Construction Reserve Funds & Title XI Reserve Funds | 278,022 | 261,739 |
Goodwill | 62,759 | 17,985 |
Intangible Assets, Net | 32,727 | 12,423 |
Other Assets | 51,292 | 44,615 |
Total Assets | 3,245,033 | 3,116,233 |
Current Liabilities: | ||
Current portion of long-term debt | 48,499 | 45,323 |
Accounts payable and accrued expenses | 103,760 | 85,477 |
Accrued wages and benefits | 31,821 | 29,510 |
Accrued interest | 5,809 | 5,849 |
Accrued income taxes | 6,800 | 17,733 |
Deferred taxes | 10,230 | 0 |
Short sales of marketable securities | 7,339 | 10,697 |
Accrued capital, repair and maintenance expenditures | 12,837 | 19,975 |
Deferred revenues | 6,794 | 6,592 |
Other current liabilities | 38,064 | 33,263 |
Total current liabilities | 271,953 | 254,419 |
Long-Term Debt | 834,383 | 834,118 |
Deferred Income Taxes | 432,546 | 457,827 |
Deferred Gains and Other Liabilities | 188,664 | 144,441 |
Total liabilities | 1,727,546 | 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; 37,505,843 and 37,219,201 shares issued in 2014 and 2013, respectively | 375 | 372 |
Additional paid-in capital | 1,490,698 | 1,394,621 |
Retained earnings | 1,195,402 | 1,095,270 |
Shares held in treasury of 19,365,716 and 16,837,113 in 2014 and 2013, respectively, at cost | 1,283,476 | 1,088,219 |
Accumulated other comprehensive loss, net of tax | -3,505 | -1,192 |
Stockholders' equity attributable to SEACOR Holdings Inc. | 1,399,494 | 1,400,852 |
Noncontrolling interests in subsidiaries | 117,993 | 24,576 |
Total equity | 1,517,487 | 1,425,428 |
Liabilities and stockholders' equity, total | $3,245,033 | $3,116,233 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
Statement of Financial Position [Abstract] | ||
Trade receivables, allowance for doubtful accounts | $3,161,886.85 | $1,161,698.20 |
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 | 37,505,843 | 37,219,201 |
Treasury stock, shares | 19,365,716 | 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 |
Consolidated_Statements_Of_Inc
Consolidated Statements Of Income (USD $) | 12 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Income Statement [Abstract] | |||
Operating Revenues | $1,319,394 | $1,247,272 | $1,308,297 |
Costs and Expenses: | |||
Operating | 909,372 | 908,871 | 977,469 |
Administrative and general | 164,938 | 141,348 | 166,743 |
Depreciation and amortization | 131,819 | 134,518 | 131,667 |
Total costs and expenses | 1,206,129 | 1,184,737 | 1,275,879 |
Gains on Asset Dispositions and Impairments, Net | 51,978 | 37,507 | 23,987 |
Operating Income | 165,243 | 100,042 | 56,405 |
Other Income (Expense): | |||
Interest income | 19,662 | 15,467 | 17,360 |
Interest expense | -43,632 | -42,592 | -37,891 |
Debt extinguishment losses, net | 0 | 0 | -160 |
Marketable security gains (losses), net | 28,760 | 5,803 | 12,891 |
Derivative gains (losses), net | -3,902 | -8,323 | -2,812 |
Foreign currency gains (losses), net | -6,335 | -3,351 | 1,631 |
Other, net | 3,439 | 586 | 7,148 |
Nonoperating Income (Expense) | -2,008 | -32,410 | -1,833 |
Income from Continuing Operations Before Income Tax Expense (Benefit) and Equity in Earnings (Losses) of 50% or Less Owned Companies | 163,235 | 67,632 | 54,572 |
Income Tax Expense (Benefit): | |||
Current | 72,261 | 16,176 | 47,582 |
Deferred | -17,064 | 10,571 | -23,401 |
Income Tax Expense (Benefit) | 55,197 | 26,747 | 24,181 |
Income from Continuing Operations Before Equity in Earnings (Losses) of 50% or Less Owned Companies | 108,038 | 40,885 | 30,391 |
Income (Loss) from Equity Method Investments | 16,309 | 7,264 | -5,764 |
Income from Continuing Operations | 124,347 | 48,149 | 24,627 |
Income (Loss) from Discontinued Operations, Net of Tax | 0 | -10,325 | 35,832 |
Net Income | 124,347 | 37,824 | 60,459 |
Net Income (Loss) Attributable to Noncontrolling Interest | 24,215 | 854 | -756 |
Net Income attributable to SEACOR Holdings Inc. | 100,132 | 36,970 | 61,215 |
Net Income (Loss) attributable to SEACOR Holdings Inc.: | |||
Income (Loss) from Continuing Operations Attributable to SEACOR Holdings Inc. | 100,132 | 47,195 | 25,343 |
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to SEACOR Holdings Inc. | $0 | ($10,225) | $35,872 |
Basic Earnings (Loss) Per Common Share of SEACOR Holdings Inc.: | |||
Income (Loss) from Continuing Operations, Per Basic Share | $5.18 | $2.37 | $1.24 |
Income (Loss) from Discontinued Operations, Net of Tax, Per Basic Share | $0 | ($0.51) | $1.76 |
Basic Earnings Per Common Share of SEACOR Holdings Inc. | $5.18 | $1.86 | $3 |
Diluted Earnings (Loss) Per Common Share of SEACOR Holdings Inc.: | |||
Income (Loss) from Continuing Operations, Per Diluted Share | $4.71 | $2.32 | $1.22 |
Income (Loss) from Discontinued Operations, Net of Tax, Per Diluted Share | $0 | ($0.50) | $1.73 |
Diluted Earnings Per Common Share of SEACOR Holdings Inc. | $4.71 | $1.82 | $2.95 |
Weighted Average Common Shares Outstanding: | |||
Basic | 19,336,280 | 19,893,954 | 20,426,770 |
Diluted | 25,765,325 | 20,293,287 | 20,775,896 |
Special Cash Dividend Declared and Paid Per Common Share of SEACOR Holdings Inc. | $0 | $0 | $5 |
Consolidated_Statements_Of_Cha
Consolidated Statements Of Changes In Equity (USD $) | 3 Months Ended | 12 Months Ended | ||||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Total equity | $1,517,487 | $1,425,428 | $1,517,487 | $1,425,428 | $1,742,675 | $1,808,063 |
Issuance of common stock: | ||||||
Employee Stock Purchase Plan | 2,165 | 1,770 | 2,963 | |||
Exercise of stock options | 6,875 | 18,225 | 8,252 | |||
Director stock awards | -210 | -210 | -359 | |||
Restricted stock and restricted stock units | 222 | 113 | 348 | |||
Windcat Acquisition | 0 | 0 | 585 | |||
Issuance of conversion option in convertible debt, net of tax | 30,652 | 31,359 | ||||
Special Cash Dividend | -100,385 | |||||
Distribution of Era Group stock to shareholders | 415,371 | |||||
Share award settlements for Era Group employees and directors | -631 | |||||
Purchase of treasury shares | -197,336 | 119,551 | ||||
Amortization of share awards | -15,119 | -14,304 | -32,930 | |||
Cancellation of restricted stock | 0 | 0 | 0 | |||
Purchase of subsidiary shares from noncontrolling interests | -3,110 | |||||
Acquisition of a subsidiary with noncontrolling interests | -13,710 | |||||
Disposition of subsidiary with noncontrolling interests | -1,125 | |||||
Issuance of noncontrolling interests | 152,423 | 40 | 83 | |||
Dividends paid to noncontrolling interests | 6,070 | 4,186 | 2,901 | |||
Comprehensive income: | ||||||
Net Income attributable to SEACOR Holdings Inc. | 40,093 | 8,396 | 100,132 | 36,970 | 61,215 | |
Net Income (Loss) Attributable to Noncontrolling Interest | 24,215 | 854 | -756 | |||
Net Income | 49,329 | 9,120 | 124,347 | 37,824 | 60,459 | |
Other Comprehensive Income (Loss), Net of Tax | -2,786 | 928 | 6,401 | |||
Common Stock [Member] | ||||||
Total equity | 375 | 372 | 375 | 372 | 367 | 364 |
Issuance of common stock: | ||||||
Employee Stock Purchase Plan | 0 | 0 | 0 | |||
Exercise of stock options | 1 | 3 | 2 | |||
Director stock awards | 0 | 0 | 0 | |||
Restricted stock and restricted stock units | 2 | 2 | 1 | |||
Issuance of conversion option in convertible debt, net of tax | 0 | 0 | ||||
Special Cash Dividend | 0 | |||||
Distribution of Era Group stock to shareholders | 0 | |||||
Share award settlements for Era Group employees and directors | 0 | |||||
Purchase of treasury shares | 0 | 0 | ||||
Amortization of share awards | 0 | 0 | 0 | |||
Cancellation of restricted stock | 0 | 0 | 0 | |||
Purchase of subsidiary shares from noncontrolling interests | 0 | |||||
Acquisition of a subsidiary with noncontrolling interests | 0 | |||||
Disposition of subsidiary with noncontrolling interests | 0 | |||||
Issuance of noncontrolling interests | 0 | 0 | 0 | |||
Dividends paid to noncontrolling interests | 0 | 0 | 0 | |||
Comprehensive income: | ||||||
Net Income attributable to SEACOR Holdings Inc. | 0 | 0 | 0 | |||
Other Comprehensive Income (Loss), Net of Tax | 0 | 0 | 0 | |||
Additional Paid-In Capital [Member] | ||||||
Total equity | -1,490,698 | 1,394,621 | -1,490,698 | 1,394,621 | 1,330,324 | 1,256,209 |
Issuance of common stock: | ||||||
Employee Stock Purchase Plan | 0 | 0 | 0 | |||
Exercise of stock options | 6,874 | 18,222 | 8,250 | |||
Director stock awards | -210 | -210 | -359 | |||
Restricted stock and restricted stock units | 199 | -24 | 443 | |||
Issuance of conversion option in convertible debt, net of tax | 30,652 | 31,359 | ||||
Special Cash Dividend | 0 | |||||
Distribution of Era Group stock to shareholders | 0 | |||||
Share award settlements for Era Group employees and directors | -631 | |||||
Purchase of treasury shares | 0 | 0 | ||||
Amortization of share awards | -15,119 | -14,304 | -32,930 | |||
Cancellation of restricted stock | -107 | 1,564 | 189 | |||
Purchase of subsidiary shares from noncontrolling interests | -1,242 | |||||
Acquisition of a subsidiary with noncontrolling interests | 0 | |||||
Disposition of subsidiary with noncontrolling interests | 0 | |||||
Issuance of noncontrolling interests | 74,810 | 0 | 0 | |||
Dividends paid to noncontrolling interests | 0 | 0 | 0 | |||
Comprehensive income: | ||||||
Net Income attributable to SEACOR Holdings Inc. | 0 | 0 | 0 | |||
Other Comprehensive Income (Loss), Net of Tax | 0 | 0 | 0 | |||
Retained Earnings [Member] | ||||||
Total equity | -1,195,402 | 1,095,270 | -1,195,402 | 1,095,270 | 1,473,509 | 1,512,679 |
Issuance of common stock: | ||||||
Employee Stock Purchase Plan | 0 | 0 | 0 | |||
Exercise of stock options | 0 | 0 | 0 | |||
Director stock awards | 0 | 0 | 0 | |||
Restricted stock and restricted stock units | 0 | 0 | 0 | |||
Issuance of conversion option in convertible debt, net of tax | 0 | 0 | ||||
Special Cash Dividend | -100,385 | |||||
Distribution of Era Group stock to shareholders | 415,209 | |||||
Share award settlements for Era Group employees and directors | 0 | |||||
Purchase of treasury shares | 0 | 0 | ||||
Amortization of share awards | 0 | 0 | 0 | |||
Cancellation of restricted stock | 0 | 0 | 0 | |||
Purchase of subsidiary shares from noncontrolling interests | 0 | |||||
Acquisition of a subsidiary with noncontrolling interests | 0 | |||||
Disposition of subsidiary with noncontrolling interests | 0 | |||||
Issuance of noncontrolling interests | 0 | 0 | 0 | |||
Dividends paid to noncontrolling interests | 0 | 0 | 0 | |||
Comprehensive income: | ||||||
Net Income attributable to SEACOR Holdings Inc. | -100,132 | 36,970 | ||||
Other Comprehensive Income (Loss), Net of Tax | 0 | 0 | 0 | |||
Shares Held In Treasury [Member] | ||||||
Total equity | -1,283,476 | -1,088,219 | -1,283,476 | -1,088,219 | -1,088,560 | -971,687 |
Issuance of common stock: | ||||||
Employee Stock Purchase Plan | 2,165 | 1,770 | 2,963 | |||
Exercise of stock options | 0 | 0 | 0 | |||
Director stock awards | 0 | 0 | 0 | |||
Restricted stock and restricted stock units | 21 | 135 | -96 | |||
Issuance of conversion option in convertible debt, net of tax | 0 | 0 | ||||
Special Cash Dividend | 0 | |||||
Distribution of Era Group stock to shareholders | 0 | |||||
Share award settlements for Era Group employees and directors | 0 | |||||
Purchase of treasury shares | -197,336 | 119,551 | ||||
Amortization of share awards | 0 | 0 | 0 | |||
Cancellation of restricted stock | 107 | -1,564 | -189 | |||
Purchase of subsidiary shares from noncontrolling interests | 0 | |||||
Acquisition of a subsidiary with noncontrolling interests | 0 | |||||
Disposition of subsidiary with noncontrolling interests | 0 | |||||
Issuance of noncontrolling interests | 0 | 0 | 0 | |||
Dividends paid to noncontrolling interests | 0 | 0 | 0 | |||
Comprehensive income: | ||||||
Net Income attributable to SEACOR Holdings Inc. | 0 | 0 | 0 | |||
Other Comprehensive Income (Loss), Net of Tax | 0 | 0 | 0 | |||
Accumulated Other Comprehensive Income (Loss) [Member] | ||||||
Total equity | -3,505 | -1,192 | -3,505 | -1,192 | -1,986 | -7,958 |
Issuance of common stock: | ||||||
Employee Stock Purchase Plan | 0 | 0 | 0 | |||
Exercise of stock options | 0 | 0 | 0 | |||
Director stock awards | 0 | 0 | 0 | |||
Restricted stock and restricted stock units | 0 | 0 | 0 | |||
Issuance of conversion option in convertible debt, net of tax | 0 | 0 | ||||
Special Cash Dividend | 0 | |||||
Distribution of Era Group stock to shareholders | 55 | |||||
Share award settlements for Era Group employees and directors | 0 | |||||
Purchase of treasury shares | 0 | 0 | ||||
Amortization of share awards | 0 | 0 | 0 | |||
Cancellation of restricted stock | 0 | 0 | 0 | |||
Purchase of subsidiary shares from noncontrolling interests | 0 | |||||
Acquisition of a subsidiary with noncontrolling interests | 0 | |||||
Disposition of subsidiary with noncontrolling interests | 0 | |||||
Issuance of noncontrolling interests | 0 | 0 | 0 | |||
Dividends paid to noncontrolling interests | 0 | 0 | 0 | |||
Comprehensive income: | ||||||
Net Income attributable to SEACOR Holdings Inc. | 0 | 0 | 0 | |||
Other Comprehensive Income (Loss), Net of Tax | 2,313 | 849 | 5,972 | |||
Non-Controlling Interests In Subsidiaries [Member] | ||||||
Total equity | 117,993 | 24,576 | 117,993 | 24,576 | 29,021 | 18,456 |
Issuance of common stock: | ||||||
Employee Stock Purchase Plan | 0 | 0 | 0 | |||
Exercise of stock options | 0 | 0 | 0 | |||
Director stock awards | 0 | 0 | 0 | |||
Restricted stock and restricted stock units | 0 | 0 | 0 | |||
Issuance of conversion option in convertible debt, net of tax | 0 | 0 | ||||
Special Cash Dividend | 0 | |||||
Distribution of Era Group stock to shareholders | 107 | |||||
Share award settlements for Era Group employees and directors | 0 | |||||
Purchase of treasury shares | 0 | 0 | ||||
Amortization of share awards | 0 | 0 | 0 | |||
Cancellation of restricted stock | 0 | 0 | 0 | |||
Purchase of subsidiary shares from noncontrolling interests | -1,868 | |||||
Acquisition of a subsidiary with noncontrolling interests | 13,710 | |||||
Disposition of subsidiary with noncontrolling interests | -1,125 | |||||
Issuance of noncontrolling interests | 77,613 | 40 | 83 | |||
Dividends paid to noncontrolling interests | 6,070 | 4,186 | 2,901 | |||
Comprehensive income: | ||||||
Net Income (Loss) Attributable to Noncontrolling Interest | -24,215 | 854 | ||||
Other Comprehensive Income (Loss), Net of Tax | 473 | 79 | 429 | |||
Windcat Acquisition [Member] | ||||||
Issuance of common stock: | ||||||
Windcat Acquisition | 585 | |||||
Windcat Acquisition [Member] | Common Stock [Member] | ||||||
Issuance of common stock: | ||||||
Windcat Acquisition | 0 | |||||
Windcat Acquisition [Member] | Additional Paid-In Capital [Member] | ||||||
Issuance of common stock: | ||||||
Windcat Acquisition | 585 | |||||
Windcat Acquisition [Member] | Retained Earnings [Member] | ||||||
Issuance of common stock: | ||||||
Windcat Acquisition | 0 | |||||
Windcat Acquisition [Member] | Shares Held In Treasury [Member] | ||||||
Issuance of common stock: | ||||||
Windcat Acquisition | 0 | |||||
Windcat Acquisition [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | ||||||
Issuance of common stock: | ||||||
Windcat Acquisition | 0 | |||||
Windcat Acquisition [Member] | Non-Controlling Interests In Subsidiaries [Member] | ||||||
Issuance of common stock: | ||||||
Windcat Acquisition | $0 |
Consolidated_Statements_Of_Cas
Consolidated Statements Of Cash Flows (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Cash Flows from Operating Activities of Continuing Operations: | |||
Income from Continuing Operations | $124,347 | $48,149 | $24,627 |
Adjustments to reconcile income from continuing operations to net cash provided by operating activities of continuing operations: | |||
Depreciation and amortization | 131,819 | 134,518 | 131,667 |
Amortization of deferred gains on sale and leaseback transactions | 18,847 | 10,687 | 16,652 |
Debt discount amortization, net | 16,250 | 10,551 | 1,266 |
Amortization of share awards | -15,119 | -14,304 | -32,930 |
Director stock awards | 211 | 211 | 357 |
Bad debt expense (income) | 2,618 | 170 | 1,311 |
Gains on asset dispositions and impairments, net | 51,978 | 37,507 | 23,987 |
Debt extinguishment losses, net | 0 | 0 | -160 |
Marketable security gains, net | 28,760 | 5,803 | 12,891 |
Purchases of marketable securities | 15,810 | 7,387 | 40,396 |
Proceeds from sale of marketable securities | 6,802 | 12,791 | 36,537 |
Derivative losses, net | -3,902 | -8,323 | -2,812 |
Cash settlements on derivative transactions, net | 5,703 | 11,398 | 11,868 |
Foreign currency (gains) losses, net | -6,335 | -3,351 | 1,631 |
Deferred income tax expense (benefit) | -17,064 | 10,571 | -23,401 |
Equity in (earnings) losses of 50% or less owned companies, net of tax | -16,309 | -7,264 | 5,764 |
Dividends received from 50% or less owned companies | 9,290 | 9,490 | 6,606 |
Other, net | -9,578 | -1,528 | -542 |
Changes in operating assets and liabilities: | |||
Decrease in receivables | -7,514 | -8,873 | -18,775 |
(Increase) decrease in prepaid expenses and other assets | 4,696 | 2,597 | -6,655 |
Increase (decrease) in accounts payable, accrued expenses and other liabilities | 16,764 | 4,839 | -57,696 |
Net cash provided by operating activities | 191,382 | 185,026 | 81,487 |
Cash Flows from Investing Activities of Continuing Operations: | |||
Purchases of property and equipment | 360,637 | 195,901 | 239,350 |
Proceeds from disposition of property and equipment | 254,763 | 263,854 | 114,032 |
Investments in and advances to 50% or less owned companies | 90,815 | 171,476 | 45,572 |
Return of investments and advances of 50% or less owned companies | 36,311 | 18,268 | 87,275 |
Net advances on revolving credit line to 50% or less owned companies | 0 | 0 | 300 |
(issuances of) payments received on third party leases and notes receivable, net | -8,437 | 16,423 | 36,033 |
Net (increase) decrease in restricted cash | 4,260 | -15,301 | 7,004 |
Net (increase) decrease in construction reserve funds and title XI funds | 16,283 | 66,110 | -64,345 |
Business acquisitions, net of cash acquired | 35,000 | 11,127 | 148,088 |
Net cash used in investing activities | -224,358 | -130,768 | -138,629 |
Cash Flows from Financing Activities of Continuing Operations: | |||
Payments on long-term debt and capital lease obligations | 35,444 | 18,164 | 484,153 |
Net borrowings (repayments) under inventory financing arrangements | -4,240 | 1,526 | -14,600 |
Proceeds from Issuance of long-term debt, net of offering costs | 26,916 | 176,586 | 414,051 |
Proceeds from issuance of conversion option in convertible debt, net of offering costs | 0 | 47,157 | 48,245 |
Special Cash Dividend | 0 | 0 | 100,385 |
Common stock acquired for treasury | 197,336 | 0 | 119,551 |
Share award settlements for Era Group employees and directors | 0 | -357 | 0 |
Proceeds and tax benefits from share award plans | 9,240 | 19,972 | 11,683 |
Purchase of subsidiary shares from noncontrolling interests | 2,090 | 0 | 0 |
Issuance of noncontrolling interests, net of issue costs | 151,849 | 40 | 83 |
Dividends paid to noncontrolling interests, net | -6,070 | -4,186 | -2,901 |
Net cash provided by (used in) financing activities | -57,175 | 222,574 | -247,528 |
Effects of Exchange Rate Changes on Cash and Cash Equivalents | -3,101 | 477 | 2,087 |
Net Increase (Decrease) in Cash and Cash Equivalents from Continuing Operations | -93,252 | 277,309 | -302,583 |
Cash Flows from Discontinued Operations: | |||
Operating Activities | 0 | 24,298 | 189,216 |
Investing Activities | 0 | -8,502 | -7,665 |
Financing Activities | 0 | -14,017 | -12,919 |
Effect of Exchange Rate Changes on Cash and Cash Equivalents | 0 | 143 | 673 |
Net Increase in Cash and Cash Equivalents from Discontinued Operations | 0 | 1,922 | 169,305 |
Net Increase (Decrease) in Cash and Cash Equivalents | -93,252 | 279,231 | -133,278 |
Cash and Cash Equivalents, Beginning of Year | 527,435 | 248,204 | 381,482 |
Cash and Cash Equivalents, End of Year | $434,183 | $527,435 | $248,204 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income Statement (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Net Income | $124,347 | $37,824 | $60,459 |
Foreign currency translation gain (losses) | -4,265 | 859 | 4,477 |
Reclassification of foreign currency translation (gains) losses to foreign currency gains (losses), net | 165 | 222 | 833 |
Derivative gains (losses) on cash flow hedges | -140 | 109 | -1,710 |
Reclassification of derivative losses on cash flow hedges to equity in earnings (losses) of 50% or less owned companies | 511 | 622 | 2,724 |
Other | 28 | 17 | 21 |
Other Comprehensive Income (Loss), before Tax | -4,031 | 1,385 | 9,617 |
Income tax (expense) benefit | -1,245 | 457 | -3,216 |
Other Comprehensive Income (Loss), Net of Tax | -2,786 | 928 | 6,401 |
Comprehensive Income | 121,561 | 38,752 | 66,860 |
Comprehensive Income (Loss) attributable to Noncontrolling Interests in Subsidiaries | 23,742 | 933 | -327 |
Comprehensive Income attributable to SEACOR Holdings Inc. | 97,819 | 37,819 | 67,187 |
Interest Expense [Member] | |||
Reclassification of derivative losses on cash flow hedges to equity in earnings (losses) of 50% or less owned companies | 0 | 0 | 2,000 |
Equity Method Investments [Member] | |||
Reclassification of derivative losses on cash flow hedges to equity in earnings (losses) of 50% or less owned companies | 511 | 622 | 724 |
Derivative Gains (Losses) [Member] | |||
Reclassification of derivative losses on cash flow hedges to equity in earnings (losses) of 50% or less owned companies | $0 | $0 | $3,272 |
Nature_Of_Operations_And_Accou
Nature Of Operations And Accounting Policies | 12 Months Ended | ||||||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||||||
Accounting Policies [Abstract] | |||||||||||||||||||||||||||||
Nature Of Operations And Accounting Policies | |||||||||||||||||||||||||||||
1 | NATURE OF OPERATIONS AND ACCOUNTING POLICIES | ||||||||||||||||||||||||||||
Nature of Operations and Segmentation. SEACOR Holdings Inc. (“SEACOR”) and its subsidiaries (collectively referred to as the “Company”) are in the business of owning, operating, investing in and marketing equipment, primarily in the offshore oil and gas, shipping and logistics industries. 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 a component 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 has identified the following reporting segments: | |||||||||||||||||||||||||||||
Offshore Marine Services. Offshore Marine Services operates a diverse fleet of support vessels primarily servicing offshore oil and gas exploration, development and production facilities worldwide. The vessels deliver cargo and personnel to offshore installations; handle anchors and mooring equipment required to tether rigs to the seabed; tow rigs and assist in placing them on location and moving them between regions; and carry and launch equipment such as remote operated vehicles or “ROVs” used underwater in drilling and well installation, maintenance, and repair. In addition, Offshore Marine Services' vessels provide accommodations for technicians and specialists, and provide standby safety support and emergency response services. Offshore Marine Services also operates a fleet of lift boats in the U.S. Gulf of Mexico supporting well intervention, work-over, decommissioning and diving operations. In non-oil and gas industry activity, Offshore Marine Services operates vessels primarily used to move personnel and supplies to offshore wind farms in Europe. Offshore Marine Services contributed 40%, 45% and 40% of consolidated operating revenues in 2014, 2013 and 2012, respectively. | |||||||||||||||||||||||||||||
Inland River Services. Inland River Services operates river transportation equipment used for moving agricultural and industrial commodities and petroleum and chemical products on the U.S. Inland River Waterways, primarily the Mississippi River, Illinois River, Tennessee River, Ohio River and their tributaries and the Gulf Intracoastal Waterways. Internationally, Inland River Services has barge operations on the Magdalena River in Colombia and on the Parana-Paraguay River Waterways in Brazil, Bolivia, Paraguay, Argentina and Uruguay. In addition to its primary barge and towboat businesses, Inland River Services also operates and invests in high-speed multi-modal terminal facilities for both dry and liquid commodities, barge fleeting locations in various areas of the Inland Waterway System; a broad range of service facilities including machine shop, gear and engine repairs and the repair and drydocking of barges and towboats at strategic locations on the U.S. Inland River Waterways; and a transshipment terminal at the Port of Ibicuy, Argentina. Inland River Services contributed 19%, 17% and 17% of consolidated operating revenues in 2014, 2013 and 2012, respectively. | |||||||||||||||||||||||||||||
Shipping Services. Shipping Services operates a diversified fleet of U.S.-flag marine transportation related assets, including its 51% controlling interest (see Note 11) in certain of its subsidiaries (collectively “SEA-Vista”), which owns product tankers servicing the U.S. coastwise trade of crude oil, petroleum and chemical products, and including its harbor tugs servicing vessels docking in U.S. Gulf and East Coast ports. Through its 16% non-controlling interest in Dorian LPG Ltd. ("Dorian"), Shipping Services also invests in foreign-flag Very Large Gas Carriers ("VLGC's") servicing the international Liquefied Petroleum Gas (“LPG”) trade. Additional services include liner and short-sea transportation to and from ports in Florida, Puerto Rico, the Bahamas and the Western Caribbean, a terminal support and bunkering operation in St. Eustatius, a U.S.-flag articulated tug and dry-bulk barge operating on the Great Lakes, a U.S.-flag offshore tug and technical ship management services for third party vessel owners. Shipping Services contributed 16%, 16% and 14% of consolidated operating revenues in 2014, 2013 and 2012, respectively. | |||||||||||||||||||||||||||||
Illinois Corn Processing. Illinois Corn Processing, LLC ("ICP") operates a single-site alcohol manufacturing, storage and distribution facility located in Pekin, Illinois and is a leading producer of alcohol used in the food, beverage, industrial and petrochemical end-markets. As co-products of its manufacturing process, ICP additionally produces Dried Distillers Grains with Solubles ("DDGS") primarily used for animal feed ingredients and produces non-food grade Corn Oil primarily used for feedstock in biodiesel production. The Company owns a 70% interest in ICP(see Note 11). ICP contributed 18%, 16% and 14% of consolidated operating revenues in 2014, 2013 and 2012. | |||||||||||||||||||||||||||||
Other. The Company also has activities that are referred to and described under Other, which primarily include emergency and crisis services, agricultural commodity trading and logistics, lending and leasing activities and noncontrolling investments in various other businesses, primarily industrial aviation services businesses in Asia. | |||||||||||||||||||||||||||||
Discontinued Operations (see Note 17). The Company reports the historical financial position, results of operations and cash flows of disposed businesses as discontinued operations when it has no continuing interest in the business. On March 16, 2012, the Company sold National Response Corporation ("NRC"), NRC Environmental Services Inc., SEACOR Response Ltd., and certain other subsidiaries (collectively the “SES Business”) to J.F. Lehman & Company, a leading, middle-market private equity firm (the "SES Business Transaction"). On December 31, 2012, the Company sold SEACOR Energy Inc. ("SEI") to Par Petroleum Corporation. On January 31, 2013, the Company completed the spin-off ("Spin-off") of Era Group Inc. (“Era Group”)by means of a dividend to SEACOR's shareholders of all the issued and outstanding common stock of Era Group. | |||||||||||||||||||||||||||||
Basis of Consolidation. The consolidated financial statements include the accounts of SEACOR and its controlled subsidiaries. Control is generally deemed to exist if the Company has greater than 50% of the voting rights of a subsidiary. All significant intercompany accounts and transactions are eliminated in consolidation. | |||||||||||||||||||||||||||||
Noncontrolling interests in consolidated subsidiaries are included in the consolidated balance sheets as a separate component of equity. The Company reports consolidated net income inclusive of both the Company’s and the noncontrolling interests’ share, as well as the amounts of consolidated net income attributable to each of the Company and the noncontrolling interests. If a subsidiary is deconsolidated upon a change in control, any retained noncontrolled equity investment in the former controlled subsidiary is measured at fair value and a gain or loss is recognized in net income based on such fair value. If a subsidiary is consolidated upon a change in control, any previous noncontrolled equity investment in the subsidiary is measured at fair value and a gain or loss is recognized based on such fair value. | |||||||||||||||||||||||||||||
The Company employs the equity method of accounting for investments in 50% or less owned companies that it does not control but has the ability to exercise significant influence over the operating and financial policies of the business venture. Significant influence is generally deemed to exist if the Company has between 20% and 50% of the voting rights of a business venture but may exist when the Company's ownership percentage is less than 20%. In certain circumstances, the Company may have an economic interest in excess of 50% but may not control and consolidate the business venture. Conversely, the Company may have an economic interest less than 50% but may control and consolidate the business venture. The Company reports its investments in and advances to these business ventures in the accompanying consolidated balance sheets as investments, at equity, and advances to 50% or less owned companies. The Company reports its share of earnings or losses from investments in 50% or less owned companies in the accompanying consolidated statements of income as equity in earnings (losses) of 50% or less owned companies, net of tax. | |||||||||||||||||||||||||||||
The Company employs the cost method of accounting for investments in 50% or less owned companies it does not control or exercise significant influence. These investments in private companies are carried at cost and are adjusted only for capital distributions and other-than-temporary declines in fair value. | |||||||||||||||||||||||||||||
Use of Estimates. The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Such estimates include those related to deferred revenues, allowance for doubtful accounts, useful lives of property and equipment, impairments, income tax provisions and certain accrued liabilities. Actual results could differ from those estimates and those differences may be material. | |||||||||||||||||||||||||||||
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 for the years ended December 31 were as follows (in thousands): | |||||||||||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||||||||||
Balance at beginning of year | $ | 6,592 | $ | 6,592 | $ | 9,845 | |||||||||||||||||||||||
Revenues deferred during the year | 202 | — | 3,806 | ||||||||||||||||||||||||||
Revenues recognized during the year | — | — | (7,059 | ) | |||||||||||||||||||||||||
Balance at end of year | $ | 6,794 | $ | 6,592 | $ | 6,592 | |||||||||||||||||||||||
As of December 31, 2014, 2013 and 2012, 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. The Company is vigorously defending its interest in connection with the bankruptcy filing; however, payments received under the Conveyance subsequent to August 17, 2012 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. | |||||||||||||||||||||||||||||
The Company’s Offshore Marine Services segment earns and recognizes revenues primarily from the time charter and bareboat charter of vessels to customers based upon daily rates of hire. Under a time charter, Offshore Marine Services provides a vessel to a customer and is responsible for all operating expenses, typically excluding fuel. Under a bareboat charter, Offshore Marine Services provides the vessel to the customer and the customer assumes responsibility for all operating expenses and risk of operation. Vessel charters may range from several days to several years. Revenues from time charters and bareboat charters are recognized as services are provided. In the U.S. Gulf of Mexico, time charter durations and rates are typically established in the context of master service agreements that govern the terms and conditions of charter. | |||||||||||||||||||||||||||||
The Company’s Inland River Services segment earns and recognizes revenues primarily from the time charter and bareboat charter of equipment to customers and from voyage affreightment contracts whereby customers are charged an established rate per ton to transport cargo from point to point. Under a time charter, Inland River Services provides equipment to a customer and is responsible for all operating expenses, typically excluding fuel. Under a bareboat charter, Inland River Services provides the equipment to the customer and the customer assumes responsibility for all operating expenses and risk of operation. These charters typically range from one to six years and revenues from these charters are recognized as services are provided on a per day basis. Revenues from voyage affreightment contracts are generally recognized over the progress of the voyage while the related costs are expensed as incurred. Certain of Inland River Services’ barges are operated in barge pools with other barges owned by third parties from whom Inland River Services earns and recognizes a management fee as the services are rendered. Pursuant to the pooling agreements, operating revenues and expenses of participating barges are combined and the net results are allocated on a pro-rata basis based on the number of barge days contributed by each participant. In addition, revenues are earned from equipment chartered to third parties and from the storage and demurrage of cargoes associated with affreightment activities. In both of these cases, revenues are recognized as services are rendered. Inland River Services’ tank farm and handling facility earns revenues through rental and throughput charges. Rental revenues are recognized ratably over the rental period while throughput charges are recognized as product volume moves through the facility. | |||||||||||||||||||||||||||||
The Company’s Shipping Services segment earns revenue from the time charter, bareboat charter and voyage charter of vessels, contracts of affreightment, ship assist services, transporting third party freight and ship management agreements with vessel owners. Under a time charter, Shipping Services provides a vessel to a customer and is responsible for all operating expenses, typically excluding fuel. Under a bareboat charter, Shipping Services provides the vessel to a customer and the customer assumes responsibility for all operating expenses and risk of operation. Revenues from time charters and bareboat charters are recognized as services are provided. Voyage contracts are contracts to carry cargoes on a single voyage basis regardless of time to complete. Contracts of affreightment are contracts for cargoes that are committed on a multi-voyage basis for various periods of time with minimum and maximum cargo tonnages specified over the period at a fixed or escalating rate per ton. Revenues for voyage contracts and contracts of affreightment are recognized over the progress of the voyage while the related costs are expensed as incurred. Ship assist services are provided by the Company's harbor towing fleet to docking and undocking cargo vessels in various ports in the U.S. Gulf of Mexico and Atlantic Coast. Revenues from ship assist services are recognized as the services are performed. Revenues from transporting freight are recognized as third party freight is transported to various destinations, typically determined by a tariff based on weight and voyage length, which is usually one to eight days. Ship management agreements typically provide for technical services over a specified period of time, typically a year or more. Revenues from ship management agreements are recognized ratably over the service period. | |||||||||||||||||||||||||||||
ICP earns revenues from the sale of alcohol and co-products. Revenues and related costs from these sales are recorded when title transfers to the buyer. | |||||||||||||||||||||||||||||
Cash Equivalents. The Company considers all highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents. Cash equivalents consist of U.S treasury securities, money market instruments, time deposits and overnight investments. | |||||||||||||||||||||||||||||
Restricted Cash. Restricted cash primarily relates to the income generated from the operations of certain of Shipping Services’ U.S.-flag product tankers and consists primarily of U.S. treasury securities (see Note 6). | |||||||||||||||||||||||||||||
Marketable Securities. Marketable equity securities with readily determinable fair values and debt securities are reported in the accompanying consolidated balance sheets as marketable securities. These investments are stated at fair value with both realized and unrealized gains and losses reported in the accompanying consolidated statements of income as marketable security gains, net. Short sales of marketable securities are stated at fair value in the accompanying consolidated balance sheets with both realized and unrealized gains and losses reported in the accompanying consolidated statements of income as marketable security gains, net. | |||||||||||||||||||||||||||||
Trade Receivables. Customers of Offshore Marine Services are primarily major integrated oil companies, large independent oil and gas exploration and production companies and emerging independent companies. Customers of Inland River Services are primarily major agricultural companies, major integrated oil companies, iron ore producers and industrial companies. Customers of Shipping Services are primarily multinational oil and gas companies, refining companies, oil trading companies and large industrial consumers of crude, petroleum and LPG. Customers of ICP are primarily alcohol trading companies, industrial manufacturers, major agricultural companies, major integrated oil companies, and manufacturers in the food, beverage and household products industries. Customers of the Company's other business activities primarily include industrial companies and distributors. All customers are granted credit on a short-term basis and related credit risks are considered minimal. The Company routinely reviews its trade receivables and makes provisions for probable doubtful accounts; however, those provisions are estimates and actual results could differ from those estimates and those differences may be material. Trade receivables are deemed uncollectible and removed from accounts receivable and the allowance for doubtful accounts when collection efforts have been exhausted. | |||||||||||||||||||||||||||||
Derivative Instruments. The Company accounts for derivatives through the use of a fair value concept whereby all of the Company’s derivative positions are stated at fair value in the accompanying consolidated balance sheets. Realized and unrealized gains and losses on derivatives not designated as hedges are reported in the accompanying consolidated statements of income as derivative losses, net. Realized and unrealized gains and losses on derivatives designated as cash flow hedges are reported as a component of other comprehensive income (loss) in the accompanying consolidated statements of comprehensive income to the extent they are effective and reclassified into earnings on the same line item associated with the hedged transaction and in the same period the hedged transaction affects earnings. Any ineffective portions of cash flow hedges are reported in the accompanying consolidated statements of income as derivative losses, net. Realized and unrealized gains and losses on derivatives designated as cash flow hedges that are entered into by the Company’s 50% or less owned companies are also reported as a component of the Company’s other comprehensive income (loss) in proportion to the Company’s ownership percentage, with reclassifications and ineffective portions being included in equity in earnings (losses) of 50% or less owned companies, net of tax, in the accompanying consolidated statements of income. | |||||||||||||||||||||||||||||
Concentrations of Credit Risk. The Company is exposed to concentrations of credit risk associated with its cash and cash equivalents, restricted cash, construction and Title XI reserve funds and derivative instruments. The Company minimizes its credit risk relating to these positions by monitoring the financial condition of the financial institutions and counterparties involved and by primarily conducting business with large, well-established financial institutions and diversifying its counterparties. The Company does not currently anticipate nonperformance of its significant counterparties. The Company is also exposed to concentrations of credit risk relating to its receivables due from customers in the industries described above. The Company does not generally require collateral or other security to support its outstanding receivables. The Company minimizes its credit risk relating to receivables by performing ongoing credit evaluations and, to date, credit losses have not been material. | |||||||||||||||||||||||||||||
Inventories. Inventories are stated at the lower of cost (using the first-in, first-out and average cost methods) or market. Inventories consist primarily of fuel and fuel oil in the Company’s Offshore Marine Services, Shipping Services and Inland River Services segments. Inventories in ICP consist primarily of corn, high quality alcohol and fuel alcohol. Inventories in the Company's other business activities consist of sugar. The Company records write-downs, as needed, to adjust the carrying amount of inventories to the lower of cost or market. During the years ended December 31, 2014, 2013, and 2012, the Company recorded market write-downs of $0.4 million, $0.2 million and $0.2 million, respectively. | |||||||||||||||||||||||||||||
Property and Equipment. 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 typically 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 December 31, 2014, the estimated useful life (in years) of each of the Company’s major classes 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 | ||||||||||||||||||||||||||||
Product tankers - U.S.-flag | 25 | ||||||||||||||||||||||||||||
Short-sea container\RORO(1) vessels | 20 | ||||||||||||||||||||||||||||
Harbor and offshore tugs | 25 | ||||||||||||||||||||||||||||
Ocean liquid tank barges | 25 | ||||||||||||||||||||||||||||
Terminal and manufacturing facilities | 20 | ||||||||||||||||||||||||||||
______________________ | |||||||||||||||||||||||||||||
-1 | Roll on/Roll off ("RORO"). | ||||||||||||||||||||||||||||
The Company’s major classes of property and equipment as of December 31 were as follows (in thousands): | |||||||||||||||||||||||||||||
Historical | Accumulated | Net Book | |||||||||||||||||||||||||||
Cost(1) | Depreciation | Value | |||||||||||||||||||||||||||
2014 | |||||||||||||||||||||||||||||
Offshore support vessels (excluding wind farm utility) | $ | 968,461 | $ | (459,531 | ) | $ | 508,930 | ||||||||||||||||||||||
Wind farm utility vessels | 65,634 | (20,658 | ) | 44,976 | |||||||||||||||||||||||||
Inland river dry-cargo and deck barges | 252,580 | (84,100 | ) | 168,480 | |||||||||||||||||||||||||
Inland river liquid tank barges | 85,639 | (21,531 | ) | 64,108 | |||||||||||||||||||||||||
Inland river towboats | 53,750 | (18,671 | ) | 35,079 | |||||||||||||||||||||||||
Product tankers - U.S.-flag | 271,141 | (153,317 | ) | 117,824 | |||||||||||||||||||||||||
Short-sea container\RORO vessels | 20,954 | (3,964 | ) | 16,990 | |||||||||||||||||||||||||
Harbor and offshore tugs | 101,762 | (40,182 | ) | 61,580 | |||||||||||||||||||||||||
Ocean liquid tank barges | 39,238 | (8,755 | ) | 30,483 | |||||||||||||||||||||||||
Terminal and manufacturing facilities | 127,977 | (44,812 | ) | 83,165 | |||||||||||||||||||||||||
Other(2) | 99,821 | (46,763 | ) | 53,058 | |||||||||||||||||||||||||
$ | 2,086,957 | $ | (902,284 | ) | $ | 1,184,673 | |||||||||||||||||||||||
2013 | |||||||||||||||||||||||||||||
Offshore support vessels (excluding wind farm utility) | $ | 1,047,119 | $ | (438,528 | ) | $ | 608,591 | ||||||||||||||||||||||
Wind farm utility vessels | 65,094 | (14,121 | ) | 50,973 | |||||||||||||||||||||||||
Inland river dry-cargo and deck barges | 241,210 | (80,772 | ) | 160,438 | |||||||||||||||||||||||||
Inland river liquid tank barges | 85,639 | (18,138 | ) | 67,501 | |||||||||||||||||||||||||
Inland river towboats | 61,407 | (22,454 | ) | 38,953 | |||||||||||||||||||||||||
Product tankers - U.S.-flag | 318,497 | (173,278 | ) | 145,219 | |||||||||||||||||||||||||
Short-sea container\RORO vessels | 18,328 | (3,995 | ) | 14,333 | |||||||||||||||||||||||||
Harbor and offshore tugs | 101,762 | (34,017 | ) | 67,745 | |||||||||||||||||||||||||
Ocean liquid tank barges | 39,238 | (7,335 | ) | 31,903 | |||||||||||||||||||||||||
Terminal and manufacturing facilities | 120,601 | (33,594 | ) | 87,007 | |||||||||||||||||||||||||
Other(2) | 100,288 | (40,098 | ) | 60,190 | |||||||||||||||||||||||||
$ | 2,199,183 | $ | (866,330 | ) | $ | 1,332,853 | |||||||||||||||||||||||
______________________ | |||||||||||||||||||||||||||||
-1 | Includes property and equipment acquired in business acquisitions and recorded at fair value as of the date of the acquisition. | ||||||||||||||||||||||||||||
-2 | Includes land and buildings, leasehold improvements, fixed-wing aircraft, vehicles and other property and equipment. | ||||||||||||||||||||||||||||
Depreciation expense totaled $127.6 million, $130.2 million and $126.1 million in 2014, 2013 and 2012, respectively. | |||||||||||||||||||||||||||||
Equipment maintenance and repair costs and the costs of routine overhauls, drydockings and inspections performed on vessels and equipment are charged to operating expense as incurred. Expenditures that extend the useful life or improve the marketing and commercial characteristics of equipment as well as major renewals and improvements to other properties are capitalized. | |||||||||||||||||||||||||||||
Certain interest costs incurred during the construction of equipment are capitalized as part of the assets’ carrying values and are amortized over such assets’ estimated useful lives. Capitalized interest totaled $17.0 million, $6.4 million and $4.3 million in 2014, 2013 and 2012, respectively. | |||||||||||||||||||||||||||||
Intangible Assets. The Company’s intangible assets primarily arose from business acquisitions (see Note 2) and consist of non-compete agreements, trademarks and tradenames, customer relationships, software and technology, and acquired contractual rights. These intangible assets are amortized over their estimated useful lives ranging from two to ten years. During the years ended December 31, 2014, 2013, and 2012, the Company recognized amortization expense of $4.3 million, $4.3 million and $5.6 million, respectively. | |||||||||||||||||||||||||||||
The Company’s intangible assets by type were as follows (in thousands): | |||||||||||||||||||||||||||||
Non-Compete | Trademark/ | Customer | Software/ | Acquired | Total | ||||||||||||||||||||||||
Agreements | Tradenames | Relationships | Technology | Contractual | |||||||||||||||||||||||||
Rights | |||||||||||||||||||||||||||||
Gross Carrying Value | |||||||||||||||||||||||||||||
Year Ended December 31, 2012 | $ | 40 | $ | 8,424 | $ | 26,587 | $ | — | $ | 8,375 | $ | 43,426 | |||||||||||||||||
Acquired intangible assets | — | 74 | 1,525 | — | — | 1,599 | |||||||||||||||||||||||
Foreign currency translation | — | — | — | — | (132 | ) | (132 | ) | |||||||||||||||||||||
Fully amortized intangible assets | — | (437 | ) | — | — | (4,772 | ) | (5,209 | ) | ||||||||||||||||||||
Year Ended December 31, 2013 | 40 | 8,061 | 28,112 | — | 3,471 | 39,684 | |||||||||||||||||||||||
Acquired intangible assets | — | 2,620 | 20,629 | 1,652 | — | 24,901 | |||||||||||||||||||||||
Foreign currency translation | — | — | — | — | (119 | ) | (119 | ) | |||||||||||||||||||||
Impairment of intangible assets | — | — | — | — | (367 | ) | (367 | ) | |||||||||||||||||||||
Fully amortized intangible assets | (40 | ) | — | (171 | ) | — | — | (211 | ) | ||||||||||||||||||||
Year Ended December 31, 2014 | $ | — | $ | 10,681 | $ | 48,570 | $ | 1,652 | $ | 2,985 | $ | 63,888 | |||||||||||||||||
Accumulated Amortization | |||||||||||||||||||||||||||||
Year Ended December 31, 2012 | $ | (25 | ) | $ | (3,983 | ) | $ | (19,014 | ) | $ | — | $ | (5,099 | ) | $ | (28,121 | ) | ||||||||||||
Amortization expense | (8 | ) | (984 | ) | (2,454 | ) | — | (903 | ) | (4,349 | ) | ||||||||||||||||||
Fully amortized intangible assets | — | 437 | — | — | 4,772 | 5,209 | |||||||||||||||||||||||
Year Ended December 31, 2013 | (33 | ) | (4,530 | ) | (21,468 | ) | — | (1,230 | ) | (27,261 | ) | ||||||||||||||||||
Amortization expense | (7 | ) | (899 | ) | (2,882 | ) | (96 | ) | (378 | ) | (4,262 | ) | |||||||||||||||||
Impairment of intangible assets | — | — | — | — | 151 | 151 | |||||||||||||||||||||||
Fully amortized intangible assets | 40 | — | 171 | — | — | 211 | |||||||||||||||||||||||
Year Ended December 31, 2014 | $ | — | $ | (5,429 | ) | $ | (24,179 | ) | $ | (96 | ) | $ | (1,457 | ) | $ | (31,161 | ) | ||||||||||||
Weighted average remaining contractual life, in years | 0 | 7.85 | 11.44 | 9.4 | 3.31 | 10.38 | |||||||||||||||||||||||
Future amortization expense of intangible assets for each of the years ended December 31 is as follows (in thousands): | |||||||||||||||||||||||||||||
2015 | $ | 4,138 | |||||||||||||||||||||||||||
2016 | 3,106 | ||||||||||||||||||||||||||||
2017 | 2,945 | ||||||||||||||||||||||||||||
2018 | 2,924 | ||||||||||||||||||||||||||||
2019 | 2,924 | ||||||||||||||||||||||||||||
Years subsequent to 2019 | 16,690 | ||||||||||||||||||||||||||||
$ | 32,727 | ||||||||||||||||||||||||||||
Impairment of Long-Lived Assets. 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 values of the assets are not recoverable, as determined by the estimated undiscounted cash flows, the carrying values of the assets are reduced to fair value. Generally, fair value is determined using valuation techniques, such as expected discounted cash flows or appraisals, as appropriate. During the years ended 2014, 2013 and 2012, the Company recognized impairment charges of $4.4 million, $3.0 million and $1.2 million, respectively, related to long-lived assets held for use. | |||||||||||||||||||||||||||||
Impairment of 50% or Less Owned Companies. The Company performs regular reviews of each 50% or less owned company's financial condition, the business outlook for its products and services, and its present and projected results and cash flows. When a 50% or less owned company has experienced consistent declines in financial performance or difficulties in raising capital to continue operations, and when the Company expects the decline to be other-than-temporary, the investment is written down to fair value. Actual results may vary from estimates due to the uncertainty regarding the projected financial performance of 50% or less owned companies, the severity and expected duration of declines in value, and the available liquidity in the capital markets to support the continuing operations of the 50% or less owned company. During the year ended December 31, 2014, the Company recognized an impairment charge of $3.3 million related to one of its 50% or less owned companies. The Company did not recognize any impairment charges during the years ended December 31, 2013 and 2012. | |||||||||||||||||||||||||||||
Goodwill. Goodwill is recorded when the purchase price paid for an acquisition exceeds the fair value of net identified tangible and intangible assets acquired. The Company performs an annual impairment test of goodwill and further periodic tests to the extent indicators of impairment develop between annual impairment tests. The Company’s impairment review process compares the fair value of the reporting unit to its carrying value, including the goodwill related to the reporting unit. To determine the fair value of the reporting unit, the Company uses a discounted future cash flow approach that uses estimates for revenues, costs and appropriate discount rates, among other things. These estimates are reviewed each time the Company tests goodwill for impairment and are typically developed as part of the Company’s routine business planning and forecasting process. While the Company believes its estimates and assumptions are reasonable, variations from those estimates could produce materially different results. The Company did not recognize any goodwill impairments in the years ended December 31, 2014, 2013 and 2012. | |||||||||||||||||||||||||||||
Business Combinations. The Company recognizes, with certain exceptions, 100% of the fair value of assets acquired, liabilities assumed, and noncontrolling interests when the acquisition constitutes a change in control of the acquired entity. Shares issued in consideration for a business combination, contingent consideration arrangements and pre-acquisition loss and gain contingencies are all measured and recorded at their acquisition-date fair value. Subsequent changes to fair value of contingent consideration arrangements are generally reflected in earnings. Any in-process research and development assets acquired are capitalized as are certain acquisition-related restructuring costs if the criteria related to exit or disposal cost obligations are met as of the acquisition date. Acquisition-related transaction costs are expensed as incurred and any changes in an acquirer’s existing income tax valuation allowances and tax uncertainty accruals are recorded as an adjustment to income tax expense. The operating results of entities acquired are included in the accompanying consolidated statements of income from the date of acquisition (see Note 2). | |||||||||||||||||||||||||||||
Deferred Financing Costs. Deferred financing costs incurred in connection with the issuance of debt are amortized over the life of the related debt using the effective interest rate method for term loans and straight line method for revolving credit facilities. Amortization of deferred financing costs totaled $2.3 million, $1.9 million and $0.5 million for the years ended December 31, 2014, 2013 and 2012, respectively, and is included in interest expense in the accompanying consolidated statements of income. | |||||||||||||||||||||||||||||
Self-insurance Liabilities. The Company maintains hull, liability and war risk, general liability, workers compensation and other insurance customary in the industries in which it operates. Most of the insurance is obtained through SEACOR sponsored programs, with premiums charged to participating businesses based on insured asset values. Both the marine hull and liability policies have significant annual aggregate deductibles. Marine hull annual aggregate deductibles are accrued as claims are incurred by participating businesses and proportionately shared among the participating businesses. Marine liability annual aggregate deductibles are accrued based on historical loss experience and actual claims incurred. The Company also maintains self-insured health benefit plans for its participating employees. Exposure to the health benefit plans are limited by maintaining stop-loss and aggregate liability coverage. To the extent that estimated self-insurance losses, including the accrual of annual aggregate deductibles, differ from actual losses realized, the Company’s insurance reserves could differ significantly and may result in either higher or lower insurance expense in future periods. | |||||||||||||||||||||||||||||
Income Taxes. Deferred income tax assets and liabilities have been provided in recognition of the income tax effect attributable to the book and tax basis differences of assets and liabilities reported in the accompanying consolidated financial statements. Deferred tax assets or liabilities are provided using the enacted tax rates expected to apply to taxable income in the periods in which they are expected to be settled or realized. Interest and penalties relating to uncertain tax positions are recognized in interest expense and administrative and general, respectively, in the accompanying consolidated statements of income. The Company records a valuation allowance to reduce its deferred tax assets if it is more likely than not that some portion or all of the deferred tax assets will not be realized. | |||||||||||||||||||||||||||||
In the normal course of business, the Company may be subject to challenges from tax authorities regarding the amount of taxes due. These challenges may alter the timing or amount of taxable income or deductions. As part of the calculation of income tax expense, the Company determines whether the benefits of its tax positions are at least more likely than not of being sustained based on the technical merits of the tax position. For tax positions that are more likely than not of being sustained, the Company accrues the largest amount of the tax benefit that is more likely than not of being sustained. Such accruals require management to make estimates and judgments with respect to the ultimate outcome of its tax benefits and actual results could vary materially from these estimates. | |||||||||||||||||||||||||||||
Deferred Gains – Equipment Sale-Leaseback Transactions and Financed Equipment Sales. From time to time, the Company enters into equipment sale-leaseback transactions with finance companies or provides seller financing on sales of its equipment to third parties or 50% or less owned companies. A portion of the gains realized from these transactions is not immediately recognized in income and has been recorded in the accompanying consolidated balance sheets in deferred gains and other liabilities. In sale-leaseback transactions (see Note 2), gains are deferred to the extent of the present value of future minimum lease payments and are amortized as reductions to rental expense over the applicable lease terms. In financed equipment sales (see Note 2), gains are deferred to the extent that the repayment of purchase notes is dependent on the future operations of the sold equipment and are amortized based on cash received from the buyers. Deferred gain activity related to these transactions for the years ended December 31 was as follows (in thousands): | |||||||||||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||||||||||
Balance at beginning of year | $ | 110,542 | $ | 96,447 | $ | 101,155 | |||||||||||||||||||||||
Deferred gains arising from equipment sales | 71,367 | 26,881 | 23,183 | ||||||||||||||||||||||||||
Amortization of deferred gains included in operating expenses as reduction to rental expense | (18,847 | ) | (10,687 | ) | (16,652 | ) | |||||||||||||||||||||||
Amortization of deferred gains included in gains on asset dispositions and impairments, net | (15,686 | ) | (2,099 | ) | (11,239 | ) | |||||||||||||||||||||||
Reductions of deferred gains on repurchased equipment and other | (842 | ) | — | — | |||||||||||||||||||||||||
Balance at end of year | $ | 146,534 | $ | 110,542 | $ | 96,447 | |||||||||||||||||||||||
Deferred Gains – Equipment Sales to the Company’s 50% or Less Owned Companies. A portion of the gains realized from non-financed sales of the Company’s vessels and barges to its 50% or less owned companies is not immediately recognized in income and has been recorded in the accompanying consolidated balance sheets in deferred gains and other liabilities. Effective January 1, 2009, the Company adopted new accounting rules related to the sale of its vessels and barges to its 50% or less owned companies. In most instances, these sale transactions are now considered a sale of a business in which the Company relinquishes control to its 50% or less owned companies. Subsequent to the adoption of the new accounting rules, gains are deferred only to the extent of the Company's uncalled capital commitments and are amortized as those commitments lapse or funded amounts are returned. For transactions occurring prior to the adoption of the new accounting rules, gains were deferred and are being amortized based on the Company's ownership interest, the Company's uncalled capital commitments, cash received and the applicable equipment's useful lives. Deferred gain activity related to these transactions for the years ended December 31 was as follows (in thousands): | |||||||||||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||||||||||
Balance at beginning of year | $ | 14,221 | $ | 15,066 | $ | 16,036 | |||||||||||||||||||||||
Amortization of deferred gains included in gains on asset dispositions and impairments, net | (844 | ) | (845 | ) | (970 | ) | |||||||||||||||||||||||
Balance at end of year | $ | 13,377 | $ | 14,221 | $ | 15,066 | |||||||||||||||||||||||
Stock Based Compensation. Stock based compensation is amortized to compensation expense on a straight line basis over the requisite service period of the grants using the Black-Scholes valuation model. The Company will reconsider its use of this model if additional information becomes available in the future that indicates another model would be more appropriate or if grants issued in future periods have characteristics that cannot be reasonably estimated using this model. The Company does not estimate forfeitures in its expense calculations as forfeiture history has been minor. The Company presents the excess tax benefits from the exercise of stock options as a financing cash flow in the accompanying consolidated statements of cash flows. | |||||||||||||||||||||||||||||
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 (Loss) | ||||||||||||||||||||||||||
Adjustments | Hedges, net | Adjustments | |||||||||||||||||||||||||||
Year ended December 31, 2011 | $ | (4,404 | ) | $ | (3,518 | ) | $ | (36 | ) | $ | (7,958 | ) | $ | (118 | ) | $ | — | ||||||||||||
Other comprehensive income (loss) | 4,871 | 4,286 | 31 | 9,188 | 439 | (10 | ) | $ | 9,617 | ||||||||||||||||||||
Income tax expense | (1,705 | ) | (1,500 | ) | (11 | ) | (3,216 | ) | — | — | (3,216 | ) | |||||||||||||||||
Year ended December 31, 2012 | (1,238 | ) | (732 | ) | (16 | ) | (1,986 | ) | 321 | (10 | ) | $ | 6,401 | ||||||||||||||||
Distribution of Era Group stock to shareholders | (55 | ) | — | — | (55 | ) | — | — | |||||||||||||||||||||
Other comprehensive income (loss) | 563 | 731 | 12 | 1,306 | 74 | 5 | $ | 1,385 | |||||||||||||||||||||
Income tax expense | (197 | ) | (256 | ) | (4 | ) | (457 | ) | — | — | (457 | ) | |||||||||||||||||
Year ended December 31, 2013 | (927 | ) | (257 | ) | (8 | ) | (1,192 | ) | 395 | (5 | ) | $ | 928 | ||||||||||||||||
Other comprehensive income (loss) | (3,949 | ) | 371 | 20 | (3,558 | ) | (481 | ) | 8 | $ | (4,031 | ) | |||||||||||||||||
Income tax (expense) benefit | 1,382 | (130 | ) | (7 | ) | 1,245 | — | — | 1,245 | ||||||||||||||||||||
Year ended December 31, 2014 | $ | (3,494 | ) | $ | (16 | ) | $ | 5 | $ | (3,505 | ) | $ | (86 | ) | $ | 3 | $ | (2,786 | ) | ||||||||||
Foreign Currency Translation. The assets, liabilities and results of operations of certain SEACOR subsidiaries are measured using their functional currency which is the currency of the primary foreign economic environment in which they operate. Upon consolidating these subsidiaries with SEACOR, their assets and liabilities are translated to U.S. dollars at currency exchange rates as of the balance sheet dates and their revenues and expenses are translated at the weighted average currency exchange rates during the applicable reporting periods. Translation adjustments resulting from the process of translating these subsidiaries’ financial statements are reported in other comprehensive income (loss) in the accompanying consolidated statements of comprehensive income. | |||||||||||||||||||||||||||||
Foreign Currency Transactions. Certain SEACOR subsidiaries enter into transactions denominated in currencies other than their functional currency. Gains and losses resulting from changes in currency exchange rates between the functional currency and the currency in which a transaction is denominated are included in foreign currency gains (losses), net in the accompanying consolidated statements of income in the period in which the currency exchange rates change. | |||||||||||||||||||||||||||||
Earnings Per Share. 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 for the years ended December 31 were as follows (in thousands, except share data): | |||||||||||||||||||||||||||||
Net Income | Average o/s Shares | Per Share | |||||||||||||||||||||||||||
2014 | |||||||||||||||||||||||||||||
Basic Weighted Average Common Shares Outstanding | $ | 100,132 | 19,336,280 | $ | 5.18 | ||||||||||||||||||||||||
Effect of Dilutive Securities: | |||||||||||||||||||||||||||||
Options and Restricted Stock(1) | — | 403,194 | |||||||||||||||||||||||||||
Convertible Securities | 21,156 | 6,025,851 | |||||||||||||||||||||||||||
Diluted Weighted Average Common Shares Outstanding | $ | 121,288 | 25,765,325 | $ | 4.71 | ||||||||||||||||||||||||
2013 | |||||||||||||||||||||||||||||
Basic Weighted Average Common Shares Outstanding | $ | 36,970 | 19,893,954 | $ | 1.86 | ||||||||||||||||||||||||
Effect of Dilutive Securities: | |||||||||||||||||||||||||||||
Options and Restricted Stock(1) | — | 399,333 | |||||||||||||||||||||||||||
Convertible Securities(2)(3) | — | — | |||||||||||||||||||||||||||
Diluted Weighted Average Common Shares Outstanding | $ | 36,970 | 20,293,287 | $ | 1.82 | ||||||||||||||||||||||||
2012 | |||||||||||||||||||||||||||||
Basic Weighted Average Common Shares Outstanding | $ | 61,215 | 20,426,770 | $ | 3 | ||||||||||||||||||||||||
Effect of Dilutive Securities: | |||||||||||||||||||||||||||||
Options and Restricted Stock(1) | — | 349,126 | |||||||||||||||||||||||||||
Convertible Securities(2) | — | — | |||||||||||||||||||||||||||
Diluted Weighted Average Common Shares Outstanding | $ | 61,215 | 20,775,896 | $ | 2.95 | ||||||||||||||||||||||||
______________________ | |||||||||||||||||||||||||||||
-1 | For the years ended December 31, 2014, 2013 and 2012, diluted earnings per common share of SEACOR excluded 407,698, 133,315 and 549,223, respectively, of certain share awards as the effect of their inclusion in the computation would be anti-dilutive. | ||||||||||||||||||||||||||||
-2 | For the years ended December 31, 2013 and 2012, diluted earnings per common share of SEACOR excluded 4,200,525 and 176,609 shares, respectively, issuable pursuant to the Company's 2.5% Convertible Senior Notes (see Note 6) as the effect of their inclusion in the computation would be anti-dilutive. | ||||||||||||||||||||||||||||
-3 | For the year ended December 31, 2013, diluted earnings per common share of SEACOR excluded 240,043 shares issuable pursuant to the Company's 3.0% Convertible Senior Notes (see Note 6) as the effect of their inclusion in the computation would be anti-dilutive. | ||||||||||||||||||||||||||||
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 selected the method of adoption and 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 or cash flows as previously reported. |
Acquisitions_And_Dispositions
Acquisitions And Dispositions | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Business Combinations [Abstract] | |||||||||||||
Acquisitions And Dispositions | |||||||||||||
2 | ACQUISITIONS AND DISPOSITIONS | ||||||||||||
Witt O'Brien's. On July 11, 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 in cash (see Note 3). 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 $45.0 million of goodwill being recorded. The preliminary fair value analysis is pending completion of a final valuation for the acquired assets and liabilities. | |||||||||||||
C-Lift Acquisition. On June 6, 2013, the Company acquired a controlling interest in C-Lift through the acquisition of its partner's 50% interest for $13.3 million in cash. C-Lift owns and operates two liftboats in the U.S. Gulf of Mexico. The Company performed a preliminary 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 of 2014. | |||||||||||||
Pantagro Acquisition. On June 25, 2012, the Company acquired a 95% controlling interest in Pantagro-Pantanal Produtos Agropecuarious Ltda. ("Pantagro") for $0.4 million ($0.2 million in cash and $0.2 million in a note payable). Pantagro is an Argentine agricultural trading company focusing primarily on salt. 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 fair value analysis was finalized in March 2013. | |||||||||||||
Superior Lift Boats Acquisition. On March 30, 2012, the Company acquired 18 lift boats, real property and working capital from Superior Energy Inc. (“Superior”) for $142.5 million. 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 fair value analysis was finalized in March 2013. | |||||||||||||
ICP Acquisition. On February 1, 2012, the Company acquired a controlling interest in ICP through its acquisition of a portion of its partner's interest for $9.1 million in cash, following which the Company owned 70% (see Note 3). ICP owns and operates an alcohol manufacturing facility dedicated to the production of alcohol for beverage, industrial and fuel applications. 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 fair value analysis of assets and liabilities acquired was finalized in June 2012. | |||||||||||||
Windcat Acquisition. On December 22, 2011, the Company acquired 75% of the issued and outstanding shares in Windcat Workboats Holdings Ltd. (“Windcat”). Windcat, based in the United Kingdom and the Netherlands, is an operator of wind farm utility vessels operating in the main offshore wind markets of Europe. During the year ended December 31, 2012, the Company issued 6,374 shares of SEACOR common stock, par value $0.01 per share (“Common Stock”) valued at $0.6 million for a final working capital settlement. 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 fair value analysis of assets and liabilities was finalized in December 2012. | |||||||||||||
Purchase Price Allocation. The allocation of the purchase price for the Company’s acquisitions for the years ended December 31 was as follows (in thousands): | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Trade and other receivables | $ | 31,079 | $ | 3,250 | $ | 17,356 | |||||||
Other current assets | 1,925 | 32 | 16,282 | ||||||||||
Investments, at Equity, and Advances to 50% or Less Owned Companies | 519 | (13,290 | ) | (42,358 | ) | ||||||||
Property and Equipment | (49,968 | ) | 43,521 | 178,025 | |||||||||
Goodwill | 44,967 | — | (1,586 | ) | |||||||||
Intangible Assets | 24,901 | 1,599 | 4,057 | ||||||||||
Other Assets | 111 | — | (332 | ) | |||||||||
Accounts payable | (1,709 | ) | (264 | ) | (4,701 | ) | |||||||
Other current liabilities | (12,274 | ) | (1,053 | ) | (4,093 | ) | |||||||
Long-Term Debt | (3,266 | ) | (22,668 | ) | (946 | ) | |||||||
Deferred Income Taxes | 91 | — | — | ||||||||||
Other Liabilities | (1,376 | ) | — | (166 | ) | ||||||||
Accumulated other comprehensive loss, net of tax | — | — | 9 | ||||||||||
Noncontrolling interests in subsidiaries | — | — | (13,459 | ) | |||||||||
Purchase price(1) | $ | 35,000 | $ | 11,127 | $ | 148,088 | |||||||
______________________ | |||||||||||||
-1 | Purchase price is net of cash acquired (totaling $0.4 million, $2.2 million and $3.7 million in 2014, 2013 and 2012, respectively) and excludes issued Common Stock valued at $0.6 million in 2012. | ||||||||||||
Equipment Additions. The Company’s capital expenditures from continuing operations were $360.6 million, $195.9 million and $239.4 million in 2014, 2013 and 2012, respectively. Major owned equipment placed in service for the years ended December 31 were as follows: | |||||||||||||
2014 | 2013(1) | 2012(2) | |||||||||||
Offshore Support Vessels: | |||||||||||||
Anchor handling towing supply | — | — | 2 | ||||||||||
Fast support | 3 | — | — | ||||||||||
Supply | 2 | 1 | 2 | ||||||||||
Specialty | — | 2 | 1 | ||||||||||
Wind farm utility | 2 | 5 | 1 | ||||||||||
7 | 8 | 6 | |||||||||||
Inland River dry-cargo barges | 65 | — | 3 | ||||||||||
Inland River liquid tank barges - 10,000 barrel | — | 2 | 1 | ||||||||||
Inland River liquid tank barges - 30,000 barrel | — | — | 4 | ||||||||||
Inland River towboats | 1 | 1 | 2 | ||||||||||
Short-sea container\RORO - Foreign-flag | 1 | 1 | — | ||||||||||
Harbor tugs - U.S.-flag | — | 4 | — | ||||||||||
______________________ | |||||||||||||
-1 | Excludes two liftboats acquired in the C-Lift acquisition. | ||||||||||||
-2 | Excludes 18 liftboats acquired in the Superior Liftboat acquisition and excludes an interest in one U.S.-flagged articulated tug barge acquired and immediately contributed to SeaJon (see Note 3). | ||||||||||||
Equipment Dispositions. During the year ended December 31, 2014, the Company sold property and equipment for net proceeds of $300.1 million ($254.8 million in cash and $45.3 million in seller financing) and gains of $111.2 million, of which $39.8 million were recognized currently and $71.4 million were deferred (see Note 1). Equipment dispositions included the sale-leaseback of one anchor handling towing supply vessel, one fast support vessel, one liftboat, one U.S.-flag product tanker and other equipment for $141.8 million, with leaseback terms ranging from 10 months to 84 months. Gains of $52.0 million related to these sale-leasebacks were deferred and are being amortized over their respective minimum lease periods. The Company also financed the sale of two offshore support vessels, 20 dry-cargo barges and one inland river towboat to certain of its 50% or less owned companies (see Note 3) and real property and other equipment to an unrelated third party for $45.3 million in the aggregate. Gains of $19.4 million from these sales were deferred and will be recognized as payments are received under the terms of the financing. In addition, the Company recognized previously deferred gains of $16.5 million. | |||||||||||||
During the year ended December 31, 2013, the Company sold property and equipment for net proceeds of $274.3 million ($263.9 million in cash and $10.4 million in seller financing) and gains of $64.5 million, of which $37.6 million were recognized currently and $26.9 million were deferred (see Note 1). Equipment dispositions included the sale of one liftboat, eight 30,000 barrel liquid tank barges and seven harbor tugs for $116.3 million with leaseback terms ranging from 60 months to 120 months. Gains of $26.4 million related to these sale-leasebacks were deferred and are being amortized over their respective minimum lease periods. In addition, the Company recognized previously deferred gains of $2.9 million. | |||||||||||||
During the year ended December 31, 2012, the Company sold property and equipment for net proceeds of $167.5 million ($114.0 million in cash, $5.0 million in cash deposits previously received and $48.5 million in seller financing) and gains of $36.2 million, of which $13.0 million were recognized currently and $23.2 million were deferred (see Note 1). Equipment dispositions included the sale of two anchor handling towing supply vessels and two harbor tugs for $84.5 million with leaseback terms ranging from 48 months to 96 months. Gains of $15.7 million related to the sale-leaseback were deferred and are being amortized over their respective minimum lease periods. The Company also financed the sale of two offshore support vessels to certain of its 50% or less owned companies for $48.9 million, in the aggregate (see Note 3). Gains of $0.5 million from these sales were recognized currently and $7.3 million from these sales were deferred and will be recognized as payments are received under the terms of the financing. In addition, the Company recognized previously deferred gains of $12.2 million. | |||||||||||||
Major equipment dispositions for the years ended December 31 were as follows: | |||||||||||||
2014 | 2013 | 2012(1) | |||||||||||
Offshore Support Vessels: | |||||||||||||
Anchor handling towing supply | 1 | — | 2 | ||||||||||
Fast support | 7 | 5 | 2 | ||||||||||
Mini-supply | — | 1 | — | ||||||||||
Standby Safety | — | — | 1 | ||||||||||
Supply | 4 | 2 | 2 | ||||||||||
Specialty | — | 3 | — | ||||||||||
Liftboats | 1 | 6 | — | ||||||||||
Wind farm utility | 1 | 2 | — | ||||||||||
14 | 19 | 7 | |||||||||||
Inland River dry-cargo barges | 80 | 16 | 9 | ||||||||||
Inland River liquid tank barges - 10,000 barrel | — | — | 1 | ||||||||||
Inland River liquid tank barges - 30,000 barrel | — | 8 | — | ||||||||||
Inland River towboats | 5 | — | 2 | ||||||||||
Product tankers - U.S.-flag | 1 | — | — | ||||||||||
Short-sea container\RORO - Foreign-flag | 2 | — | 1 | ||||||||||
Harbor tugs - U.S.-flag | — | 7 | 3 | ||||||||||
Harbor tugs - Foreign-flag | — | 1 | 2 | ||||||||||
______________________ | |||||||||||||
-1 | Excludes one U.S.-flag articulated tug-barge contributed to SeaJon (see Note 3). |
Investments_At_Equity_And_Adva
Investments, At Equity, And Advances To 50% Or Less Owned Companies | 12 Months Ended | |||||||||||||
Dec. 31, 2014 | ||||||||||||||
Equity Method Investment, Summarized Financial Information [Abstract] | ||||||||||||||
Investments, At Equity, And Advances To 50% Or Less Owned Companies | ||||||||||||||
3 | INVESTMENTS, AT EQUITY, AND ADVANCES TO 50% OR LESS OWNED COMPANIES | |||||||||||||
Investments, at equity, and advances to 50% or less owned companies as of December 31 were as follows (in thousands): | ||||||||||||||
Ownership | 2014 | 2013 | ||||||||||||
Offshore Marine Services: | ||||||||||||||
MexMar | 49.00% | $ | 51,262 | $ | 28,564 | |||||||||
Dynamic Offshore Drilling | 19.00% | 12,815 | 11,622 | |||||||||||
Sea-Cat Crewzer II | 50.00% | 9,983 | 22,900 | |||||||||||
OSV Partners | 30.40% | 9,838 | 3,951 | |||||||||||
Nautical Power | 50.00% | 6,411 | 6,399 | |||||||||||
Sea-Cat Crewzer | 50.00% | 3,062 | 7,833 | |||||||||||
Other | 20.00% | – | 50.00% | 22,065 | 17,891 | |||||||||
115,436 | 99,160 | |||||||||||||
Inland River Services: | ||||||||||||||
SCFCo | 50.00% | 75,799 | 27,710 | |||||||||||
Bunge-SCF Grain | 50.00% | 19,360 | 17,697 | |||||||||||
SCF Bunge Marine | 50.00% | 6,139 | 6,158 | |||||||||||
Other | 50.00% | 2,390 | 3,846 | |||||||||||
103,688 | 55,411 | |||||||||||||
Shipping Services: | ||||||||||||||
Dorian(1) | 16.10% | 139,006 | 129,785 | |||||||||||
Trailer Bridge | 47.30% | 53,447 | 57,881 | |||||||||||
SEA-Access | 50.00% | 16,551 | — | |||||||||||
SeaJon | 50.00% | 7,475 | 9,479 | |||||||||||
SeaJon II | 50.00% | 5,941 | — | |||||||||||
222,420 | 197,145 | |||||||||||||
Other: | ||||||||||||||
Witt O'Brien's(2) | 54.20% | — | 52,289 | |||||||||||
Hawker Pacific | 34.20% | 21,114 | 21,596 | |||||||||||
Avion | 39.10% | 14,107 | 13,127 | |||||||||||
Cleancor | 50.00% | 4,201 | 83 | |||||||||||
Other | 34.00% | – | 50 | % | 3,191 | 2,042 | ||||||||
42,613 | 89,137 | |||||||||||||
$ | 484,157 | $ | 440,853 | |||||||||||
______________________ | ||||||||||||||
-1 | The Company's ownership represents its economic interest in Dorian. The Company exercises significant influence over Dorian through its representation on Dorian's board of directors. | |||||||||||||
-2 | The Company's ownership represents its economic interest in Witt O'Brien's. The Company had a 50% voting interest prior to it acquisition of a controlling interest (see Note 2). | |||||||||||||
Combined Condensed Financials. Summarized financial information for the Company’s investments, at equity, as of and for the years ended December 31 was as follows (in thousands): | ||||||||||||||
2014 | 2013 | |||||||||||||
Current assets | $ | 713,220 | $ | 749,369 | ||||||||||
Noncurrent assets | 1,838,102 | 1,387,601 | ||||||||||||
Current liabilities | 467,124 | 345,260 | ||||||||||||
Noncurrent liabilities | 702,306 | 682,348 | ||||||||||||
2014 | 2013 | 2012 | ||||||||||||
Operating Revenues | $ | 1,253,988 | $ | 1,087,637 | $ | 774,912 | ||||||||
Costs and Expenses: | ||||||||||||||
Operating and administrative | 1,067,964 | 955,583 | 699,061 | |||||||||||
Depreciation | 73,164 | 61,813 | 40,440 | |||||||||||
1,141,128 | 1,017,396 | 739,501 | ||||||||||||
Gains (Loss) on Asset Dispositions | 368 | (397 | ) | — | ||||||||||
Operating Income | $ | 113,228 | $ | 69,844 | $ | 35,411 | ||||||||
Net Income | $ | 43,875 | $ | 17,312 | $ | 4,640 | ||||||||
As of December 31, 2014 and 2013, cumulative undistributed net earnings of 50% or less owned companies accounted for by the equity method included in the Company’s consolidated retained earnings were $29.4 million and $23.9 million, respectively. | ||||||||||||||
MexMar. Mantenimiento Express Maritimo, S.A.P.I. de C.V. (“MexMar”) owns and operates eleven offshore support vessels in Mexico. During the year ended December 31, 2014, the Company contributed capital of $2.9 million and sold two offshore support vessels for $32.0 million ($6.4 million in cash and short-term notes totaling $25.6 million of which $10.7 million was repaid in 2014). Subsequent to December 31, 2014, MexMar repaid the balance of the short-term notes. During the year ended December 31, 2013, the Company contributed capital of $5.9 million and sold one offshore support vessel for $36.4 million ($30.4 million in cash and $6.0 million in seller financing all of which was repaid in 2013). During the year ended December 31, 2012, the Company sold two offshore support vessels to MexMar and financed a portion of the vessels' mobilization costs with the Company totaling $50.0 million ($5.0 million in cash and short-term notes totaling $45.0 million all of which was repaid in 2012). During the years ended December 31, 2014, 2013 and 2012, the Company received $0.3 million, $0.3 million and $0.3 million, respectively, of vessel management fees from MexMar. | ||||||||||||||
Dynamic Offshore Drilling. Dynamic Offshore Drilling Ltd. (“Dynamic”) was established to construct and operate a jack-up drilling rig that was delivered in the first quarter of 2013. | ||||||||||||||
Sea-Cat Crewzer II. On January 23, 2013, the Company and another offshore support vessel operator formed Sea-Cat Crewzer II LLC (“Sea-Cat Crewzer II”) to own and operate two high speed offshore catamarans. The Company is a guarantor of its proportionate share of Sea-Cat Crewzer’s debt and the amount of the guarantee declines as principal payments are made and will terminate when the debt is repaid. As of December 31, 2014, the Company’s guarantee was $14.1 million. During the year ended December 31, 2014, the Company received distributions of $14.0 million. During the year ended December 31, 2013, the Company and its partner each contributed capital of $23.9 million in cash. Sea-Cat Crewzer II then purchased two high speed offshore catamarans from the Company for $47.3 million ($44.5 million in cash and $2.8 million in seller financing all of which was repaid in 2013). During the years ended December 31, 2014 and 2013, the Company received $0.7 million and $0.2 million, respectively, of vessel management fees from Sea-Cat Crewzer II. | ||||||||||||||
OSV Partners. On August 13, 2013, the Company and Breem Transportation Services LLC formed SEACOR OSV Partners GP LLC and SEACOR OSV Partners I LP (collectively "OSV Partners") to own and operate six offshore support vessels. During the year ended December 31, 2013, OSV Partners closed on a private placement equity offering with third party limited partner members, including the Company, and secured a bank financing arrangement. During the years ended December 31, 2014 and 2013, the Company contributed capital of $5.1 million and $4.1 million, respectively, to OSV Partners. During the years ended December 31, 2014 and 2013, the Company sold two offshore support vessels for $27.7 million and one offshore support vessel for $14.5 million, respectively, to OSV Partners. In addition, during the year ended December 31, 2013, the Company provided and was repaid bridge financing of $7.6 million. During the year ended December 31, 2014 and 2013, the Company received $1.2 million and $0.2 million, respectively, of vessel management fees from OSV Partners. | ||||||||||||||
Nautical Power. The Company and another offshore operator formed Nautical Power, LLC (“Nautical Power”) to operate one offshore support vessel. Nautical Power bareboat chartered the vessel from a leasing company and that charter terminated in 2013. During the year ended December 31, 2013, the Company received dividends of $5.3 million from Nautical Power. | ||||||||||||||
Sea-Cat Crewzer. Sea-Cat Crewzer LLC (“Sea-Cat Crewzer”) owns and operates two high speed offshore catamarans. The Company is a guarantor of its proportionate share of Sea-Cat Crewzer’s debt and the amount of the guarantee declines as principal payments are made and will terminate when the debt is repaid. As of December 31, 2014, the Company’s guarantee was $12.5 million. During the year ended December 31, 2014, the Company received distributions of $3.2 million from Sea-Cat Crewzer. During the years ended December 31, 2014 and 2013, the Company received dividends of $3.3 million and $1.3 million, respectively, from Sea-Cat Crewzer. During the years ended December 31, 2014, 2013 and 2012, the Company received $0.7 million, $0.8 million and $0.8 million, respectively, of vessel management fees from Sea-Cat Crewzer. During the years ended December 31, 2014, 2013 and 2012, the Company paid $4.7 million, $4.8 million and $2.2 million, respectively, to Sea-Cat Crewzer to bareboat charter one of its vessels. | ||||||||||||||
Other Offshore Marine Services. The Company’s other Offshore Marine Services 50% or less owned companies own and operate ten vessels. During the year ended December 31, 2014, the Company received distributions of $0.2 million, dividends of $1.0 million and repayments on advances of $0.6 million, and made additional capital contributions and advances of $4.1 million to these 50% or less owned companies. During the year ended December 31, 2013, the Company received dividends of $0.9 million and made capital contributions and advances of $2.1 million to these 50% or less owned companies. During the year ended December 31, 2012, the Company made no additional capital contributions to these 50% or less owned companies. Certain of these 50% or less owned companies obtained bank debt to finance the acquisition of offshore support vessels from the Company. Under the terms of the debt, the bank has the authority, under certain circumstances, to require the parties of these 50% or less owned companies to fund uncalled capital commitments, as defined in the 50% or less owned companies’ partnership agreements. In such an event, the Company would be required to contribute its allocable share of the uncalled capital commitments, which was $2.1 million in the aggregate as of December 31, 2014. As of December 31, 2014, the Company’s contingent guarantee of outstanding charter receivables was $0.6 million. In addition, the Company has guaranteed $71.6 million related to a construction contract for two foreign-flag liftboats entered into by one of Offshore Marine Services' 50% or less owned companies. The guarantee declines as progress payments are made by the 50% or less owned company in accordance with the contracts. During the year ended December 31, 2013, the Company sold two offshore support vessels to one of its 50% or less owned companies for $5.4 million. The Company manages certain vessels on behalf of its 50% or less owned companies and guarantees the outstanding charter receivables of one of its 50% or less owned companies if a customer defaults in payment and the Company either fails to take enforcement action against the defaulting customer or fails to assign its right of recovery against the defaulting customer. During the years ended December 31, 2014, 2013 and 2012, the Company received $0.6 million, $0.6 million and $0.6 million, respectively, of vessel management fees from these 50% or less owned companies. | ||||||||||||||
SCFCo. SCFCo Holdings LLC (“SCFCo”) was established to operate dry-cargo barges and towboats on the Parana-Paraguay Rivers and a terminal facility at Port Ibicuy, Argentina. During the years ended December 31, 2014, 2013 and 2012, the Company contributed capital of $19.7 million, $6.1 million and $3.0 million, respectively, to SCFCo. Additionally, during the years ended December 31, 2014 and 2013, the Company provided working capital advances of $23.5 million and $3.1 million, respectively and received repayments on working capital advances of $1.0 million and $1.8 million, respectively. As of December 31, 2014, $29.5 million of working capital advances remained outstanding. | ||||||||||||||
Bunge-SCF Grain. Bunge-SCF Grain LLC (“Bunge-SCF Grain”) operates a terminal grain elevator in Fairmont City, Illinois. During the year ended December 31, 2014, the Company contributed capital of $2.0 million to Bunge-SCF Grain. During the years ended December 31, 2013 and 2012, the Company and its partner each made working capital advances to Bunge-SCF Grain of $2.5 million and $5.0 million, respectively. During the year ended December 31, 2013, the Company received $0.5 million of repayments of working capital advances. As of December 31, 2014, the total outstanding balance of working capital advances was $7.0 million. In addition, Bunge-SCF Grain operates and manages the Company’s grain storage and handling facility in McLeansboro, Illinois and the Company received $1.6 million, $1.0 million and $1.0 million in rental income for the years ended December 31, 2014, 2013 and 2012, respectively. | ||||||||||||||
SCF Bunge Marine. SCF Bunge Marine LLC (“SCF Bunge Marine”) provides towing services on the U.S. Inland River Waterways, primarily the Mississippi River, Illinois River, Tennessee River and Ohio River. The Company bareboat charters inland river towboats from a third-party leasing company and time charters the equipment to SCF Bunge Marine. The Company's obligations under the bareboat charter are guaranteed by SEACOR and its partner in SCF Bunge Marine. Pursuant to the time charter, the Company received charter fees of $41.6 million, $40.8 million and $40.9 million for the years ended December 31, 2014, 2013 and 2012, respectively. During the year ended December 31, 2014, the Company received dividends of $4.5 million from SCF Bunge Marine. In addition, during the years ended December 31, 2014, 2013 and 2012, SCF Bunge Marine received $46.6 million, $41.1 million and $42.6 million, respectively, for towing services provided to the Company. | ||||||||||||||
Other Inland River Services. The Company’s other Inland River Services 50% or less owned companies operate a fabrication facility and operated a dry-cargo vessel. During the year ended December 31, 2014 and 2012, the Company received distributions of $2.1 million and $0.4 million from these 50% or less owned companies. | ||||||||||||||
Dorian. On July 25, 2013, the Company contributed $57.0 million to Dorian in exchange for a 25% ownership interest. The contribution included $42.1 million in net cash and other consideration valued at $14.9 million that included certain progress payments made toward the construction of two VLGC's, the construction contracts for the two VLGC's, and options to construct additional VLGC's. On November 18, 2013, Dorian completed a second private placement equity offering and the Company contributed an additional $70.4 million in cash. Following the completion of the second private placement equity offering, the Company's ownership percentage was diluted to a 21.8% ownership interest and the Company recognized a $1.1 million gain, net of tax, which is included in equity in earnings (losses) of 50% or less owned companies in the accompanying consolidated statements of income. During the year ended December 31, 2014, Dorian completed three private placement equity offerings prior to becoming a publicly traded company in May of 2014. The Company did not participate in any of the offerings and as a consequence its ownership was diluted to a 16.1% ownership interest and the Company recognized a $4.4 million gain, net of tax, which is included in equity in earnings (losses) of 50% or less owned companies in the accompanying consolidated statements of income. As of December 31, 2014, the fair value of the Company's investment in Dorian based on the quoted market price of Dorian was $129.6 million. As of December 31, 2014, Dorian operates a fleet of five VLGC's and had 17 under construction. | ||||||||||||||
Trailer Bridge. Trailer Bridge, Inc. (“Trailer Bridge”), an operator of U.S.-flag deck and RORO barges, offers marine transportation services between Jacksonville, Florida, San Juan, Puerto Rico and Puerto Plata, Dominican Republic. Trailer Bridge filed for bankruptcy under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the Middle District of Florida (the “Bankruptcy Court”) on November 16, 2011. On April 2, 2012, Trailer Bridge approved and adopted a restructuring plan, which was confirmed by the Bankruptcy Court. Immediately prior to adopting the restructuring plan, the Company had outstanding marketable security positions in 9.25% Senior Secured Notes due from Trailer Bridge (“Old Notes”) and U.S. Government Guaranteed Ship Financing Bonds due from Trailer Bridge (“MARAD Bonds”). Upon the adoption and implementation of Trailer Bridge's restructuring plan, the Company exchanged its Old Notes for a new $33.1 million Secured Note due from Trailer Bridge and new common shares in Trailer Bridge, representing a 47.26% ownership interest valued at $9.9 million. As a result of the adoption and implementation of the restructuring plan, the Company reclassified $48.1 million from marketable securities to investments, at equity, and advances to 50% or less owned companies, representing its investment in the new Trailer Bridge securities valued at $43.0 million and the MARAD Bonds valued at $5.1 million. In addition, as part of the restructuring plan, the Company provided $20.8 million of bridge financing to Trailer Bridge. During the year ended December 31, 2012, the Company recognized $9.8 million of marketable security gains, net related to its investments in Trailer Bridge. During the years ended December 31, 2014, 2013 and 2012, the Company received repayments of $2.1 million, $2.1 million and $1.1 million, respectively, on the bridge financing. During the year ended December 31, 2014, the Company received $2.0 million for the time charter of a U.S.-flag harbor tug to Trailer Bridge. | ||||||||||||||
SEA-Access. On November 7, 2014, the Company and Access Shipping Limited Partnership formed SEA-Access LLC ("SEA-Access") to acquire and operate the M/V Eagle Ford, a U.S.-flag 124,000 dwt crude tanker. During the year ended December 31, 2014, the Company and its partner each contributed capital of $16.7 million to SEA-Access to acquire the vessel and for working capital. The Company also provides SEA-Access with technical and commercial management services. During the year ended December 31, 2014, the Company received $0.1 million for these services. | ||||||||||||||
SeaJon. SeaJon LLC (“SeaJon”) owns an articulated tug-barge operating in the Great Lakes trade. Each partner contributed its ownership interest in a newly constructed articulated tug-barge, which began its charter during 2012. During the years ended December 31, 2014 and 2013, the Company and its partner each made capital contributions of $2.3 million and $1.4 million, respectively. During the year ended December 31, 2014, SeaJon made a $5.4 million non-cash distribution of an interest in an offshore tug under reconstruction to each partner (see SeaJon II). During the year ended December 31, 2012, SeaJon entered into a $40.0 million bank term loan, secured by the articulated tug-barge and the assignment of its current charter. Upon funding, SeaJon distributed $20.0 million to each of its partners. The term loan requires monthly principal and interest payments and a balloon payment of $29.7 million due April 2017. The Company is a guarantor of its proportionate share of SeaJon's debt up to a maximum of $5.0 million. | ||||||||||||||
SeaJon II. On October 1, 2014, the Company and Donjon Marine Co., Inc. formed SeaJon II LLC ("SeaJon II") to complete the reconstruction and own an offshore tug. During the year ended December 31, 2014, the Company and its partner each contributed capital of $0.6 million in cash and an interest in an offshore tug under construction valued at $5.4 million (see SeaJon). | ||||||||||||||
Witt O'Brien's. On December 31, 2012, the Company contributed its interest in O'Brien's Response Management Inc. ("ORM") to Witt Group Holdings, LLC (the "ORM Transaction"), which was renamed Witt O'Brien's, LLC ("Witt O'Brien's"), in exchange for a 54.2% economic interest. Witt O'Brien's is a a global leader in preparedness, crisis management, and disaster response and recovery. As a result of the change in control, the Company recognized equity in losses of 50% or less owned companies of $9.7 million, net of tax, primarily related to the one-time recognition of deferred tax liabilities associated with the deconsolidation of non-deductible goodwill. On July 11, 2014, the Company acquired a controlling interest in Witt-O'Brien's through the acquisition of its partners 45.8% equity interest for $35.4 million (see Note 2). During the six months ended June 30, 2014, the Company received distributions of $0.4 million and dividends of $0.4 million from Witt O'Brien's. During the year ended December 31, 2013, the Company received dividends of $2.0 million from Witt O'Brien's. During the six months ended December 31, 2014 and the year ended December 31, 2013, the Company received management fees of $0.1 million and $0.3 million from Witt O'Brien's. | ||||||||||||||
Hawker Pacific. Hawker Pacific Airservices, Limited (“Hawker Pacific”) is an aviation sales and support organization and a distributor of aviation components from leading manufacturers. During the year ended December 31, 2012, the Company advanced $3.3 million to Hawker Pacific at an interest rate of 10.0% per annum, which was repaid in December 2012. As of December 31, 2014, the Company had issued three letters of credit totaling $23.2 million in support of Hawker Pacific's credit facility and certain of its performance guarantees. Subsequent to December 31, 2014, one letter of credit for $8.7 million was canceled. During the year ended December 31, 2014, the Company received management fees of $0.5 million from Hawker Pacific. | ||||||||||||||
Avion. Avion Pacific Limited (“Avion”) is a distributor of aircraft and aircraft related parts. During the years ended December 31, 2014 and 2012, the Company made advances of $3.0 million and $11.0 million, respectively, to Avion. During the years ended December 31, 2014, 2013 and 2012, the Company received repayments of $4.0 million, $1.0 million and $15.7 million, respectively, from Avion on these advances. As of December 31, 2014 and 2013, the Company had outstanding loans to Avion totaling $3.0 million and $4.0 million, respectively. | ||||||||||||||
Illinois Corn Processing. The Company provided ICP with a $20.0 million revolving line of credit with a maturity in January 2013 subject to certain borrowing restrictions. During January 2012, the Company made net advances $0.3 million under the revolving line of credit. In January 2012, the Company and its partner each made a capital contribution of $0.5 million. On February 1, 2012, the Company obtained a controlling interest in ICP through its acquisition of a portion of its partner’s interest for $9.1 million in cash, following which the Company owned 70% (see Note 2). Upon the acquisition, the Company adjusted its investment in ICP to fair value resulting in the recognition of a gain of $6.0 million, net of tax, which is included in equity in earnings (losses) in 50% or less owned companies in the accompanying consolidated statements of income. | ||||||||||||||
Cleancor. On August 20, 2013, the Company and Balfour Investors formed CLEANCOR Energy Solutions LLC ("Cleancor") a full service solution provider delivering clean fuel to end users. During the year ended December 31, 2014, the Company contributed capital of $4.8 million to Cleancor to fund its start-up operations and provide capital for future investments. | ||||||||||||||
Other. The Company's other 50% or less owned companies are primarily industrial aviation businesses in Asia. During the year ended December 31, 2014 and 2013, the Company contributed capital and made advances of $1.7 million and $0.7 million, respectively, to these 50% or less owned companies. During the years ended December 31, 2014 and 2012, the Company received distributions of $0.1 million and $1.2 million, respectively, from these 50% or less owned companies. |
Third_Party_Notes_Receivable
Third Party Notes Receivable | 12 Months Ended | |
Dec. 31, 2014 | ||
Third Party Notes Receivable [Abstract] | ||
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | ||
4 | LEASES AND NOTES RECEIVABLE FROM THIRD PARTIES | |
From time to time, the Company engages in lending and leasing activities involving various types of equipment. The Company recognizes interest income as payments are due, typically monthly, and expenses all costs associated with its lending and leasing activities as incurred. These leases and notes receivable are typically collateralized by the underlying equipment and require scheduled lease payments or periodic principal and interest payments. As of December 31, 2014 and 2013, the outstanding balance of leases and notes receivable from third parties was $23.6 million and $14.5 million, respectively, and is included in other long-term assets in the accompanying consolidated balance sheets. During the years ended December 31, 2014, 2013 and 2012, the Company made advances on notes receivable from third parties of $19.0 million, $20.5 million and $4.1 million, respectively, and received repayments on notes receivable from third parties of $10.0 million, $33.3 million and $36.8 million, respectively. During the years ended December 31, 2014, 2013 and 2012, the Company received net lease payments of $0.6 million, $3.6 million and $3.4 million, respectively, from third parties. As of December 31, 2014, none of the Company’s third party leases and notes receivable are past due or in default and the Company has made no provisions for credit losses. |
Construction_Reserve_Funds
Construction Reserve Funds | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Construction Reserve Funds [Abstract] | |||||||||||||
Construction Reserve Funds Disclosure [Text Block] | |||||||||||||
5 | CONSTRUCTION RESERVE FUNDS | ||||||||||||
The Company has established, pursuant to Section 511 of the Merchant Marine Act, 1936, as amended, construction reserve fund accounts subject to agreements with the Maritime Administration. In accordance with this statute, the Company is permitted to deposit proceeds from the sale of certain vessels into the construction reserve fund accounts and defer the taxable gains realized from the sale of those vessels. Qualified withdrawals from the construction reserve fund accounts are only permitted for the purpose of acquiring qualified U.S.-flag vessels as defined in the statue and approved by the Maritime Administration. To the extent that sales proceeds are reinvested in replacement vessels, the carryover depreciable tax basis of the vessels originally sold is attributed to the U.S.-flag vessels acquired using such qualified withdrawals. The construction reserve funds must be committed for expenditure within three years of the date of sale of the equipment, subject to two one-year extensions that can be granted at the discretion of the Maritime Administration, or be released for the Company’s general use as nonqualified withdrawals. For nonqualified withdrawals, the Company is obligated to pay taxes on the previously deferred gains at the prevailing statutory tax rate plus a 1.1% penalty tax and interest thereon for the period such taxes were deferred. | |||||||||||||
As of December 31, 2014 and 2013, the Company’s construction reserve funds of $268.4 million and $252.1 million, respectively, are classified as non-current assets in the accompanying consolidated balance sheets as the Company has the intent and ability to use the funds to acquire equipment. Construction reserve fund transactions for the years ended December 31 were as follows (in thousands): | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Withdrawals | $ | (131,167 | ) | $ | (65,493 | ) | $ | (122,695 | ) | ||||
Deposits | 147,450 | 131,603 | 58,350 | ||||||||||
$ | 16,283 | $ | 66,110 | $ | (64,345 | ) | |||||||
LongTerm_Debt
Long-Term Debt | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Long-term Debt, Unclassified [Abstract] | |||||||||
Long-Term Debt | |||||||||
6 | LONG-TERM DEBT | ||||||||
The Company’s borrowings as of December 31 were as follows (in thousands): | |||||||||
2014 | 2013 | ||||||||
3.0% Convertible Notes (excluding unamortized discount of $42.2 million) | $ | 230,000 | $ | 230,000 | |||||
2.5% Convertible Notes (excluding unamortized discount of $31.2 million) | 350,000 | 350,000 | |||||||
7.375% Senior Notes (excluding unamortized discount of $0.9 million) | 233,500 | 233,500 | |||||||
Title XI Bonds (excluding unamortized discount of $8.7 million) | 79,338 | 85,217 | |||||||
Other (excluding unamortized discount of $0.6 million) | 73,633 | 80,563 | |||||||
966,471 | 979,280 | ||||||||
Portion due within one year | (48,499 | ) | (45,323 | ) | |||||
Debt discount, net | (83,589 | ) | (99,839 | ) | |||||
$ | 834,383 | $ | 834,118 | ||||||
The Company’s long-term debt maturities for the years ended December 31 are as follows (in thousands): | |||||||||
2015 | $ | 48,499 | |||||||
2016 | 14,198 | ||||||||
2017 | 14,605 | ||||||||
2018 | 14,906 | ||||||||
2019 | 245,545 | ||||||||
Years subsequent to 2019 | 628,718 | ||||||||
$ | 966,471 | ||||||||
3.0% Convertible Senior Notes. On November 13, 2013, SEACOR completed the sale of $230.0 million aggregate principal amount of its 3.0% Convertible Senior Notes due November 15, 2028 (the “3.0% Convertible Senior Notes”). Interest on the 3.0% Convertible Senior Notes is payable semi-annually on May 15 and November 15 of each year, commencing May 15, 2014. Beginning November 15, 2020, contingent interest is payable during any subsequent semi-annual interest period if the average trading price of the 3.0% Convertible Senior Notes for a defined period is greater than or equal to $1,200 per $1,000 principal amount of the 3.0% Convertible Senior Notes. The amount of contingent interest payable for any such period will be equal to 0.45% per annum of such average trading price of the 3.0% Convertible Senior Notes. After March 31, 2014 and prior to August 15, 2028, the 3.0% Convertible Senior Notes are convertible into shares of Common Stock at the initial conversion rate ("Conversion Rate") of 7.9362 only if certain conditions are met. The Conversion Price for each note equals $1,000 divided by the Conversion Rate in effect. After August 15, 2028, holders may elect to convert at any time at the Conversion Price. The Company has reserved the maximum number of shares of Common Stock needed upon conversion, or 1,825,326 shares as of December 31, 2014. After November 19, 2018, the 3.0% Convertible Senior Notes may be redeemed, in whole or in part, at a price equal to 100% of the principal amount, plus accrued and unpaid interest to the date of redemption. On November 19, 2020 and November 20, 2023, the holders of the 3.0% Convertible Senior Notes may require SEACOR to purchase for cash all or part of the notes at a price equal to 100% of the principal amount, plus accrued and unpaid interest to the date of purchase. SEACOR incurred $6.3 million of net offering costs associated with the 3.0% Convertible Senior Notes sale for net proceeds of $223.7 million. | |||||||||
The Company accounts separately for the liability and equity components of the 3.0% Convertible Senior Notes and the associated underwriting fees in a manner that reflects the Company's non-convertible borrowing rate. Of the total proceeds of $230.0 million received upon issuance and $6.3 million of offering costs, the Company allocated $181.5 million and $5.0 million, respectively, to the liability component and allocated $48.5 million and $1.3 million, respectively, to the equity component. The resulting debt discount and offering costs associated with the liability component is amortized as additional non-cash interest expense over the seven year period for which the debt is expected to be outstanding (November 19, 2020) for an overall effective annual interest rate of 7.4%. | |||||||||
2.5% Convertible Senior Notes. On December 11, 2012, SEACOR completed the sale of $350.0 million aggregate principal amount of its 2.5% Convertible Senior Notes due December 15, 2024 (the “2.5% Convertible Senior Notes”). Interest on the 2.5% Convertible Senior Notes is payable semi-annually on June 15 and December 15 of each year. Beginning December 15, 2017, contingent interest is payable during any subsequent semi-annual interest period if the average trading price of the 2.5% Convertible Senior Notes for a defined period is greater than or equal to $1,200 per $1,000 principal amount of the 2.5% Convertible Senior Notes. The amount of contingent interest payable for any such period will be equal to 0.25% per annum of such average trading price of the 2.5% Convertible Senior Notes. Prior to September 15, 2017, the 2.5% Convertible Senior Notes are convertible into shares of Common Stock the conversion rate then in effect only if certain conditions are met. The Conversion Price for each note equals $1,000 divided by the Conversion Rate in effect. After September 15, 2017, holders may elect to convert at any time at the Conversion Price. On December 14, 2012, the Conversion Rate was adjusted to 9.2089 in connection with the Company's cash dividend of $5.00 per common share. On January 31, 2013, the Conversion Rate was adjusted to 12.0015 in connection with the Spin-off of Era Group from SEACOR (see Note 17). The Company has reserved the maximum number of shares of Common Stock needed upon conversion, or 4,200,525 shares as of December 31, 2014. After December 19, 2015 and prior to December 19, 2017, the 2.5% Convertible Senior Notes may be redeemed, in whole or in part, at a price equal to 100% of the principal amount, plus accrued and unpaid interest to the date of redemption, plus $55 per $1,000 bond, provided the trading price of the Common Stock for a defined period exceeds 130% of the Conversion Price. After December 19, 2017, the 2.5% Convertible Senior Notes may be redeemed, in whole or in part, at a price equal to 100% of the principal amount, plus accrued and unpaid interest to the date of redemption, plus $55 per $1,000 bond. On December 19, 2017 and December 19, 2022, the holders of the 2.5% Convertible Senior Notes may require SEACOR to purchase for cash all or part of the notes at a price equal to 100% of the principal amount, plus accrued and unpaid interest to the date of purchase. SEACOR incurred $9.4 million of net offering costs associated with the 2.5% Convertible Senior Notes sale for net proceeds of $340.6 million. | |||||||||
The Company accounts separately for the liability and equity components of the 2.5% Convertible Senior Notes and the associated underwriting fees in a manner that reflects the Company's non-convertible borrowing rate. Of the total proceeds of $350.0 million received upon issuance and $9.4 million of offering costs, the Company allocated $300.4 million and $8.1 million, respectively, to the liability component and allocated $49.6 million and $1.3 million, respectively, to the equity component. The resulting debt discount and offering costs associated with the liability component is amortized as additional non-cash interest expense over the five year period for which the debt is expected to be outstanding (December 19, 2017) for an overall effective annual interest rate of 6.5%. | |||||||||
7.375% Senior Notes. On September 24, 2009, SEACOR issued $250.0 million aggregate principal amount of its 7.375% Senior Notes due October 1, 2019 (the “7.375% Senior Notes”). The 7.375% Senior Notes were issued under a supplemental indenture dated as of September 24, 2009 (the “2009 Supplemental Indenture”) to the base indenture relating to SEACOR’s senior debt securities, dated as of January 10, 2001, between SEACOR and U.S. Bank National Association, as trustee. Interest on the 7.375% Senior Notes is payable semi-annually on April 1 and October 1 of each year. The 7.375% Senior Notes may be redeemed at any time, in whole or in part, at a price equal to the principal amount, plus accrued and unpaid interest to the date of redemption, plus a specified “make-whole” premium. The 2009 Supplemental Indenture contained covenants including, among others, limitations on liens and sale and leasebacks of certain Principal Properties, as defined, and certain restrictions on SEACOR consolidating with or merging into any other Person, as defined. | |||||||||
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. | |||||||||
5.875% Senior Notes. In 2002, SEACOR sold $200.0 million aggregate principal amount of its 5.875% Senior Notes due October 1, 2012 (the “5.875% Senior Notes”). During the year ended December 31, 2012, the Company purchased $5.5 million, in principal amount, of its 5.875% Senior Notes for $5.7 million, resulting in a loss on debt extinguishment of $0.2 million. On October 1, 2012, the Company repaid the remaining outstanding principal amount of $171.0 million. | |||||||||
Title XI Bonds. Three double-hull product and chemical tankers (the “Title XI tankers”) owned by subsidiaries of the Company (the “Title XI companies”) were financed through the issuance of U.S. Government Guaranteed Ship Financing Bonds (the “Title XI Bonds” or “Title XI financing”) bearing interest at 6.50% with semi-annual principal and interest payments and maturing through June 2024. | |||||||||
A percentage of earnings attributable to each of the Title XI tankers’ operations is required to be deposited into Title XI reserve fund bank accounts. Cash held in these accounts is invested as prescribed by Title XI financing agreements. Withdrawals from these accounts are permitted for limited purposes, subject to the prior approval of the U.S. Maritime Administration. As of December 31, 2014 and 2013, the Title XI reserve fund account balances were $9.6 million. | |||||||||
The Title XI financing agreements contain covenants restricting cash distributions subject to certain financial tests. Failure to meet these financial tests, among other things, restricts Title XI companies from (1) distributing capital; (2) paying dividends; (3) increasing employee compensation and paying other indebtedness; (4) incurring additional indebtedness; (5) making investments and (6) acquiring fixed assets. Cash distributions (as defined in the Title XI financing agreements) from a Title XI company are prohibited until such company achieves certain levels of working capital. As of December 31, 2014 and 2013, the Title XI companies held $16.1 million and $12.2 million, respectively, in restricted cash that was limited in use for the operation of the tankers and cannot be used to fund the Company’s general working capital requirements. As of December 31, 2014, the Title XI companies had net assets of $57.5 million. | |||||||||
In the event of default (as defined in the Title XI financing agreements), all of the Title XI tankers, in addition to the assignment of earnings relating to those vessels and the funds on deposit in the Title XI reserve fund accounts, serve as collateral for the repayment of the Title XI Bonds. The aggregate net book value as of December 31, 2014 of the Title XI tankers was $108.0 million. | |||||||||
SEACOR Revolving Credit Facility. On August 9, 2013, the Company terminated its unsecured revolving credit facility that was scheduled to mature in November 2013. During the year ended December 31, 2013, the Company made net repayments of $175.0 million on the revolving credit facility. During the year ended December 31, 2012, the Company made no borrowings or repayments on the revolving credit facility. | |||||||||
Other. The Company has various other obligations including ship, equipment and facility mortgages, working capital lines and short term financing for certain agriculture commodity trading and logistics’ inventories. These obligations have maturities ranging from several days through August 2023, have interest rates ranging from 1.1% to 4.8% as of December 31, 2014, and require periodic payments of interest and principal. During the years ended December 31, 2014, 2013 and 2012, proceeds from the issuance of other debt was $26.9 million, $1.5 million and $6.7 million, respectively. During the years ended December 31, 2014, 2013 and 2012, repayments on other debt was $33.8 million, $9.7 million and $24.5 million, respectively. | |||||||||
As of December 31, 2014, the Company had outstanding letters of credit totaling $40.4 million with various expiration dates through 2018, including three totaling $23.2 million issued for the benefit of one of the Company's 50% or less owned companies (see Note 3). The letters of credit were issued in support of the 50% or less owned company's credit facility and certain performance guarantees. Subsequent to December 31, 2014, one letter of credit for $8.7 million was canceled. |
Income_Taxes
Income Taxes | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Income Tax Disclosure [Abstract] | |||||||||||||
Income Taxes | |||||||||||||
7 | INCOME TAXES | ||||||||||||
Income from continuing operations before income tax expense (benefit) and equity in earnings (losses) of 50% or less owned companies derived from U.S. and foreign companies for the years ended December 31 were as follows (in thousands): | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
United States | $ | 160,782 | $ | 71,669 | $ | 82,383 | |||||||
Foreign | (5,409 | ) | (7,596 | ) | (176 | ) | |||||||
Eliminations and other | 7,862 | 3,559 | (27,635 | ) | |||||||||
$ | 163,235 | $ | 67,632 | $ | 54,572 | ||||||||
As of December 31, 2014, cumulative undistributed net earnings of foreign subsidiaries included in the Company’s consolidated retained earnings were $122.2 million. | |||||||||||||
The Company files a consolidated U.S. federal tax return. The components of income tax expense (benefit) for the years ended December 31 were as follows (in thousands): | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Current: | |||||||||||||
State | $ | 5,526 | $ | 1,723 | $ | 3,604 | |||||||
Federal | 56,675 | 6,311 | 36,057 | ||||||||||
Foreign | 10,060 | 8,142 | 7,921 | ||||||||||
72,261 | 16,176 | 47,582 | |||||||||||
Deferred: | |||||||||||||
State | 196 | (985 | ) | (40 | ) | ||||||||
Federal | (17,222 | ) | 11,532 | (23,572 | ) | ||||||||
Foreign | (38 | ) | 24 | 211 | |||||||||
(17,064 | ) | 10,571 | (23,401 | ) | |||||||||
$ | 55,197 | $ | 26,747 | $ | 24,181 | ||||||||
The following table reconciles the difference between the statutory federal income tax rate for the Company and the effective income tax rate on continuing operations for the years ended December 31: | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Statutory rate | 35 | % | 35 | % | 35 | % | |||||||
Non-deductible expenses | 0.5 | % | 0.4 | % | 6.1 | % | |||||||
Noncontrolling interests | (5.3 | )% | (0.5 | )% | 0.6 | % | |||||||
Reversal of valuation allowance on foreign tax credit carryforwards | — | % | — | % | (5.5 | )% | |||||||
Losses of foreign subsidiaries not benefited | 1.2 | % | 5.1 | % | 4.2 | % | |||||||
State taxes | 2.3 | % | 0.2 | % | 4.2 | % | |||||||
Other | 0.1 | % | (0.6 | )% | (0.3 | )% | |||||||
33.8 | % | 39.6 | % | 44.3 | % | ||||||||
During the year ended December 31, 2012, the effective rate associated with non-deductible expenses was primarily attributable to the Company's acceleration into 2012 of restricted stock originally scheduled to vest in 2013 and 2014. | |||||||||||||
During the year ended December 31, 2012, the Company utilized all available foreign tax credit carryforwards and reversed a previously established valuation allowance of $3.1 million. As of December 31, 2012, the Company had no remaining foreign tax credit carryforwards. | |||||||||||||
The Company records an additional income tax benefit or expense based on the difference between the fair market value of share awards at the time of grant and the fair market value at the time of vesting or exercise. For the years ended December 31, 2014, 2013 and 2012, an additional net income tax benefit was recorded in stockholders’ equity of $1.1 million, $1.4 million and $2.0 million, respectively. | |||||||||||||
During the year ended December 31, 2013, the Company provided for income taxes of $10.1 million relating to potential tax exposures surrounding the Spin-off of Era Group. As of December 31, 2014, the Company had combined unrecognized tax benefits on these potential tax exposures and associated accrued interest of $10.5 million, which is included in deferred gains and other liabilities in the accompanying consolidated balance sheets. If recognized, the unrecognized tax benefits would affect the effective tax rate in future periods. It is not expected that the unrecognized tax benefits will change in the next twelve months; however, changes may be recorded in future periods as the result of settlement by audit or the expiration of the statute of limitations. As of December 31, 2014, an estimate of the range of the reasonably possible outcomes cannot be made. | |||||||||||||
The components of the net deferred income tax liabilities for the years ended December 31 were as follows (in thousands): | |||||||||||||
2014 | 2013 | ||||||||||||
Deferred tax liabilities: | |||||||||||||
Property and Equipment | $ | 316,269 | $ | 343,411 | |||||||||
Long-term Debt | 58,542 | 56,587 | |||||||||||
Unremitted earnings of foreign subsidiaries | 38,633 | 40,321 | |||||||||||
Investments in 50% or Less Owned Companies | 18,458 | 23,573 | |||||||||||
Gains on marketable securities | 11,082 | 2,064 | |||||||||||
Intangible assets | 7,922 | 1,711 | |||||||||||
Deductible goodwill | 5,595 | 3,501 | |||||||||||
Other | 4,302 | 1,774 | |||||||||||
Total deferred tax liabilities | 460,803 | 472,942 | |||||||||||
Deferred tax assets: | |||||||||||||
Share award plans | 11,081 | 8,347 | |||||||||||
Other | 11,852 | 13,662 | |||||||||||
Total deferred tax assets | 22,933 | 22,009 | |||||||||||
Valuation allowance | (4,906 | ) | (6,778 | ) | |||||||||
Net deferred tax assets | 18,027 | 15,231 | |||||||||||
Net deferred tax liabilities | $ | 442,776 | $ | 457,711 | |||||||||
During the year ended December 31, 2014, the Company decreased its valuation allowance primarily for state net operating loss carryforwards from $6.8 million to $4.9 million. |
Fair_Value_Measurements
Fair Value Measurements | 12 Months Ended | ||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||
Fair Value Disclosures [Abstract] | |||||||||||||||||
Fair Value Measurements | |||||||||||||||||
8 | 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 December 31 that are measured at fair value on a recurring basis were as follows (in thousands): | |||||||||||||||||
Level 1 | Level 2 | Level 3 | |||||||||||||||
2014 | |||||||||||||||||
ASSETS | |||||||||||||||||
Marketable securities(1) | $ | 58,004 | $ | — | $ | — | |||||||||||
Derivative instruments (included in other receivables) | 2,277 | 6,205 | — | ||||||||||||||
Construction reserve funds and Title XI reserve funds | 278,022 | — | — | ||||||||||||||
LIABILITIES | |||||||||||||||||
Short sales of marketable securities | 7,339 | — | — | ||||||||||||||
Derivative instruments (included in other current liabilities) | 2,834 | 752 | — | ||||||||||||||
2013 | |||||||||||||||||
ASSETS | |||||||||||||||||
Marketable securities(1) | $ | 24,292 | $ | — | $ | — | |||||||||||
Derivative instruments (included in other receivables) | 185 | 6,072 | — | ||||||||||||||
Construction reserve funds and Title XI reserve funds | 261,739 | — | — | ||||||||||||||
LIABILITIES | |||||||||||||||||
Short sales of marketable securities | 10,697 | — | — | ||||||||||||||
Derivative instruments (included in other current liabilities) | 1,511 | 1,828 | — | ||||||||||||||
______________________ | |||||||||||||||||
-1 | Marketable security gains, net include gains of $27.8 million, gains of $6.5 million and losses of $0.4 million for the years ended December 31, 2014, 2013 and 2012, respectively, related to marketable security positions held by the Company as of December 31, 2014. Marketable security gains, net include gains of $5.8 million and losses of $0.7 million for the years ended December 31, 2013 and 2012, respectively, related to marketable security positions held by the Company as of December 31, 2013. | ||||||||||||||||
The estimated fair value of the Company’s other financial assets and liabilities as of December 31 were as follows (in thousands): | |||||||||||||||||
Estimated Fair Value | |||||||||||||||||
Carrying | Level 1 | Level 2 | Level 3 | ||||||||||||||
Amount | |||||||||||||||||
2014 | |||||||||||||||||
ASSETS | |||||||||||||||||
Cash, cash equivalents and restricted cash | $ | 450,618 | $ | 450,618 | $ | — | $ | — | |||||||||
Investments, at cost, in 50% or less owned companies (included in other assets) | 10,442 | see below | |||||||||||||||
Notes receivable from third parties (included in other receivables and other assets) | 23,250 | see below | |||||||||||||||
LIABILITIES | |||||||||||||||||
Long-term debt, including current portion(1) | 882,882 | — | 990,146 | — | |||||||||||||
2013 | |||||||||||||||||
ASSETS | |||||||||||||||||
Cash, cash equivalents and restricted cash | 539,610 | 539,610 | — | — | |||||||||||||
Investments, at cost, in 50% or less owned companies (included in other assets) | 9,315 | see below | |||||||||||||||
Notes receivable from third parties (included in other receivables and other assets) | 13,544 | see below | |||||||||||||||
LIABILITIES | |||||||||||||||||
Long-term debt, including current portion(1) | 879,441 | — | 1,094,193 | — | |||||||||||||
______________________ | |||||||||||||||||
-1 | The estimated fair value includes the conversion option on the Company's 2.5% and 3.0% Convertible 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 years ended December 31 were as follows (in thousands): | |||||||||||||||||
Level 1 | Level 2 | Level 3 | |||||||||||||||
2014 | |||||||||||||||||
ASSETS | |||||||||||||||||
Long-lived assets(1) | $ | — | $ | 11,700 | $ | — | |||||||||||
Investment in Witt O'Brien's(2) | — | 50,569 | — | ||||||||||||||
2013 | |||||||||||||||||
ASSETS | |||||||||||||||||
Long-lived assets under construction(3) | $ | 17,494 | $ | — | $ | — | |||||||||||
Investment in C-Lift(4) | — | 13,290 | — | ||||||||||||||
Contribution of non-cash consideration to Dorian(5) | — | 14,989 | — | ||||||||||||||
Investment in Zhuhai SEACOR/Avion Logistics Company Limited (included in Investments, at Equity, and Advances to 50% or Less Owned Companies)(6) | — | 924 | — | ||||||||||||||
______________________ | |||||||||||||||||
-1 | During the year ended December 31, 2014, the Company recognized impairment charges of $4.4 million related to two aircraft and certain tangible and intangible assets in Brazil and $3.3 million related to one of its 50% or less owned companies following the adjustment of their carrying value to fair value. | ||||||||||||||||
-2 | During the year ended December 31, 2014, the Company marked its equity investment in Witt O'Brien's to fair value following its acquisition of a controlling interest (see Note 2). The investment's fair value was determined based on the Company's purchase price of the acquired interest. | ||||||||||||||||
-3 | During the year ended December 31, 2013, the Company recognized impairment charges of $3.0 million related to two of Shipping Services' harbor tugs while under construction, which were sold and leased back upon their completion (see Note 2). | ||||||||||||||||
-4 | During the year ended December 31, 2013, the Company marked its equity investment in C-Lift to fair value following its acquisition of a controlling interest (see Note 2). The investment's fair value was determined based on the Company's purchase price of the acquired interest. | ||||||||||||||||
-5 | During the year ended December 31, 2013, the Company marked to fair value the non-cash consideration contributed to Dorian in exchange for an equity investment (see Note 3). The fair value was determined based on the value of the equity investment the Company received. | ||||||||||||||||
-6 | During the year ended December 31, 2013, the Company marked its equity investment in Zhuhai SEACOR/Avion Logistics Company Limited, an Asian industrial aviation company, to fair value upon the deconsolidation of the previously controlled subsidiary following the sale of a portion of the Company's ownership to a third party. The investment's fair value was determined based on the purchase price of the Company's interest sold. |
Derivative_Instruments_And_Hed
Derivative Instruments And Hedging Strategies | 12 Months Ended | ||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |||||||||||||||||
Derivative Instruments And Hedging Strategies | |||||||||||||||||
9 | 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 consolidated balance sheets. The fair values of the Company’s derivative instruments as of December 31 were as follows (in thousands): | |||||||||||||||||
2014 | 2013 | ||||||||||||||||
Derivative | Derivative | Derivative | Derivative | ||||||||||||||
Asset | Liability | Asset | Liability | ||||||||||||||
Derivatives not designated as hedging instruments: | |||||||||||||||||
Options on equities and equity indices | $ | — | $ | 65 | $ | 224 | $ | 7 | |||||||||
Forward currency exchange, option and future contracts | 1 | 218 | 349 | 213 | |||||||||||||
Interest rate swap agreements | — | 499 | — | 1,615 | |||||||||||||
Commodity swap, option and future contracts: | |||||||||||||||||
Exchange traded | 2,277 | 2,768 | 185 | 1,504 | |||||||||||||
Non-exchange traded | 6,204 | 36 | 5,499 | — | |||||||||||||
$ | 8,482 | $ | 3,586 | $ | 6,257 | $ | 3,339 | ||||||||||
Cash Flow Hedges. As of December 31, 2014 and 2013, the Company held no interest rate swap agreements designated as cash flow hedges. As of December 31, 2014, SCFCo 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 $16.9 million and receive a variable interest rate based on LIBOR on the aggregate amortized notional value. As of December 31, 2014, SeaJon 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 $35.0 million and receive a variable interest rate based on LIBOR on the amortized notional value. As of December 31, 2014, Sea-Cat Crewzer and Sea-Cat Crewzer II entered into interest rate swap agreements designated as cash flow hedges that mature in 2019. The first instrument calls for Sea-Cat Crewzer to pay a fixed rate of interest of 1.52% on the amortized notional value of $24.8 million and receive a variable interest rate based on LIBOR on the amortized notional value. The second instrument calls for Sea-Cat Crewzer II to pay a fixed rate of interest of 1.52% on the amortized notional value of $28.0 million and receive 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. | |||||||||||||||||
The Company recognized gains (losses) on derivative instruments designated as cash flow hedges for the years December 31 as follows (in thousands): | |||||||||||||||||
Other comprehensive income (loss) | |||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||
Interest rate swap agreements, effective portion | $ | (140 | ) | $ | 109 | $ | (1,710 | ) | |||||||||
Reclassification of derivative losses to interest expense or equity in earnings (losses) of 50% or less owned companies | 511 | 622 | 2,724 | ||||||||||||||
Reclassification of net derivative losses on cash flow hedges to derivative losses, net upon dedesignation | — | — | 3,272 | ||||||||||||||
$ | 371 | $ | 731 | $ | 4,286 | ||||||||||||
Derivative gains (losses), net | |||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||
Interest rate swap agreements, ineffective portion | $ | — | $ | — | $ | (58 | ) | ||||||||||
Other Derivative Instruments. The Company recognized gains (losses) on derivative instruments not designated as hedging instruments for the years ended December 31 as follows (in thousands): | |||||||||||||||||
Derivative gains (losses), net | |||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||
Options on equities and equity indices | $ | 38 | $ | (5,270 | ) | $ | (680 | ) | |||||||||
Forward currency exchange, option and future contracts | (183 | ) | (451 | ) | 837 | ||||||||||||
Interest rate swap agreements | (176 | ) | (37 | ) | (3,778 | ) | |||||||||||
Commodity swap, option and future contracts: | |||||||||||||||||
Exchange traded | (4,250 | ) | (3,915 | ) | (1,020 | ) | |||||||||||
Non-exchange traded | 669 | 1,350 | 1,887 | ||||||||||||||
$ | (3,902 | ) | $ | (8,323 | ) | $ | (2,754 | ) | |||||||||
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 market value of marketable security positions that the Company is either about to acquire, has acquired or is about to dispose. | |||||||||||||||||
The Company enters and settles forward currency exchange, option and future contracts with respect to various foreign currencies. As of December 31, 2014, the outstanding forward currency exchange contracts translated into a net purchase of foreign currencies with an aggregate U.S. dollar equivalent of $4.2 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 and certain of its 50% or less owned companies have entered into interest rate swap agreements for the general purpose of providing protection against increases in interest rates, which might lead to higher interest costs. As of December 31, 2014, the interest rate swaps held by the Company or its 50% or less owned companies were as follows: | |||||||||||||||||
• | The Company has an interest rate swap agreement that matures in 2018 and calls for the Company to pay fixed interest rates of 3.00% on an amortized notional value of $9.4 million and receive a variable interest rate based on Euribor on this amortized notional values. | ||||||||||||||||
• | Dynamic Offshore 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 $93.4 million and receive a variable interest rate based on LIBOR on the amortized notional value. | ||||||||||||||||
• | OSV Partners 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 $39.3 million and receive a variable interest rate based on LIBOR on the amortized notional value. | ||||||||||||||||
• | MexMar has four interest rate swap agreements with maturities ranging from 2020 to 2021 that call for this company to pay fixed interest rates ranging from 1.17% to 1.95% on the aggregate amortized notional value of $60.1 million and receive a variable interest rate based on LIBOR on the amortized notional value. | ||||||||||||||||
• | Sea-Cat Crewzer has an interest rate swap agreement maturing in 2015 that was dedesignated as a cash flow hedge in July 2014. This instrument calls for this company to pay a fixed interest rate of 1.48% on the amortized notional value of $15.4 million and receive a variable interest rate based on LIBOR on the amortized notional value. | ||||||||||||||||
• | Dorian 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 $121.3 million and receive a variable interest rate based on LIBOR on the aggregate amortized notional value. | ||||||||||||||||
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 balances from market changes. In the Company’s agricultural 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 December 31, 2014, the net market exposure to corn and sugar under these contracts was not material. From time to time, 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 December 31, 2014, none of these types of positions were outstanding. |
Common_Stock_Common_Stock_Note
Common Stock Common Stock (Notes) | 12 Months Ended | |
Dec. 31, 2014 | ||
Treasury Stock Transactions, Excluding Value of Shares Reissued [Abstract] | ||
Common Stock Disclosure [Text Block] | ||
10 | COMMON STOCK | |
SEACOR’s Board of Directors previously approved a securities repurchase plan that authorizes the Company to acquire Common Stock, which may be acquired through open market purchases, privately negotiated transactions or otherwise, depending on market conditions. During the years ended December 31, 2014, and 2012, the Company acquired for treasury 2,531,324 and 1,377,798 shares of Common Stock, respectively, for an aggregate purchase price of $195.3 million and $119.6 million, respectively. During the year ended December 31, 2013, the Company acquired no shares of Common Stock for treasury. As of December 31, 2014, SEACOR had authorization to repurchase $150.0 million of Common Stock. In addition, during the year ended December 31, 2014, the Company acquired for treasury 26,792 shares of Common Stock for an aggregate purchase price of $2.0 million upon the exercise of certain stock options by the Company's Executive Chairman. These shares were purchased in accordance with the terms of the Company's Share Incentive Plans and not pursuant to the repurchase authorizations granted by SEACOR's Board of Directors. | ||
SEACOR’s Board of Directors declared a Special Cash Dividend of $5.00 per share of Common Stock payable to stockholders of record as of December 17, 2012. On or about December 26, 2012, the Company paid these dividends totaling $100.4 million on 20,076,762 shares of Common Stock, including dividends of $0.9 million related to 171,562 outstanding restricted share awards. The Compensation Committee of SEACOR’s Board of Directors elected, at its discretion, to pay the dividend on the restricted share awards in December 2012 rather than depositing amounts in escrow pending the lapsing of restrictions. |
Noncontrolling_Interests_in_Su
Noncontrolling Interests in Subsidiaries (Notes) | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Noncontrolling Interest [Abstract] | |||||||||||||
Noncontrolling Interest Disclosure [Text Block] | |||||||||||||
11 | NONCONTROLLING INTERESTS IN SUBSIDIARIES | ||||||||||||
Noncontrolling interests in the Company's consolidated subsidiaries were as follows (in thousands): | |||||||||||||
Noncontrolling Interests | December 31, 2014 | December 31, 2013 | |||||||||||
Offshore Marine Services: | |||||||||||||
Windcat Workboats | 25% | $ | 7,527 | $ | 7,541 | ||||||||
Other | 1.8 | % | – | 33.30% | 1,323 | 1,600 | |||||||
Inland River Services: | |||||||||||||
Other | 3 | % | – | 51.80% | 1,088 | 2,612 | |||||||
Shipping Services: | |||||||||||||
Sea-Vista | 49% | 89,680 | — | ||||||||||
Illinois Corn Processing | 30% | 16,397 | 10,894 | ||||||||||
Other | 5 | % | – | 18.90% | 1,978 | 1,929 | |||||||
$ | 117,993 | $ | 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 December 31, 2014 and 2013, the net assets of Windcat Workboats were $30.1 million and $30.2 million, respectively. During the year ended December 31, 2014, the net income of Windcat Workboats was $1.9 million, of which $0.5 million was attributable to noncontrolling interests. During the year ended December 31, 2013, the net loss of Windcat Workboats was $0.9 million, of which $0.2 million was attributable to noncontrolling interests. During the year ended December 31, 2012, the net income of Windcat Workboats was $0.3 million, of which $0.1 million was attributable to noncontrolling interests. | |||||||||||||
SEA-Vista. On May 2, 2014, the Company issued a 49% noncontrolling interest to a financial investor in SEA-Vista, which owns and operates 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 December 31, 2014, the net assets of SEA-Vista were $183.0 million. From May 2, 2014 through December 31, 2014, the net income of SEA-Vista was $25.1 million, of which $12.3 million was attributable to noncontrolling interests. | |||||||||||||
Illinois Corn Processing. ICP owns and operates an alcohol manufacturing, storage and distribution facility located in Pekin, IL. As of December 31, 2014 and 2013, the net assets of ICP were $59.0 million and $38.7 million, respectively. During the year ended December 31, 2014, the net income of ICP was $38.4 million, of which $10.3 million was attributable to noncontrolling interests. During the year ended December 31, 2013, the net loss of ICP was $2.1 million, of which $1.3 million was attributable to noncontrolling interests. During the year ended December 31, 2012, the net loss of ICP was $3.4 million, of which $1.0 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 year ended December 31, 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). |
Savings_Plans_And_Multiemploye
Savings Plans And Multiemployer Pension Plans | 12 Months Ended | |
Dec. 31, 2014 | ||
Deferred Compensation Arrangements [Abstract] | ||
Savings Plans And Multiemployer Pension Plans | ||
12 | SAVINGS AND MULTI-EMPLOYER PENSION PLANS | |
SEACOR Savings Plan. The Company provides a defined contribution plan (the “Savings Plan”) for its eligible U.S.-based employees. The Company’s contribution to the Savings Plan is limited to 50% of an employee’s first 6% of wages invested in the Savings Plan and is subject to annual review by the Board of Directors of SEACOR. The Company’s Savings Plan costs were $2.4 million, $2.2 million and $3.3 million for the years ended December 31, 2014, 2013 and 2012, respectively, including discontinued operations. | ||
SEACOR Deferred Compensation Plan. In 2005, the Company established a non-qualified deferred compensation plan, as amended (the “Deferred Compensation Plan”) to provide certain highly compensated executives and non-employee directors the ability to defer receipt of up to 75% of their cash base salary and up to 100% of their cash bonus. Prior to a 2012 amendment, participants were eligible to defer up to 100% of their vested restricted stock (deferred in the form of Restricted Stock Units, as defined in the plan) for each fiscal year. Each participant’s compensation deferrals are credited to a bookkeeping account and, subject to certain restrictions, each participant may elect to have their cash deferrals in such account indexed against one or more investment options, solely for purposes of determining amounts payable under the Deferred Compensation Plan (the Company is not obligated to actually invest any deferred amounts in the selected investment options). | ||
Participants may receive a distribution of deferred amounts, plus any earnings thereon (or less any losses), on a date specified by the participant or, if earlier, upon a separation from service or upon a change of control (as defined). All distributions to participants following a separation from service shall be in the form of a lump sum, except if such separation qualifies as “retirement” under the terms of the plan, in which case it may be paid in installments if previously elected by the participant. Distributions to “Key Employees” upon a separation from service (other than due to death) will not commence until at least 6 months after the separation from service. Participants are always 100% vested in the amounts they contribute to their Deferred Compensation Plan accounts. The Company, at its option, may contribute amounts to participants’ accounts, which may be subject to vesting requirements. | ||
The obligations of the Company to pay deferred compensation under the Deferred Compensation Plan are general unsecured obligations of the Company and rank equally with other unsecured indebtedness of the Company that is outstanding from time to time. As of December 31, 2014 and 2013, the Company had obligations of $0.2 million and $0.6 million, respectively, related to the Deferred Compensation Plan that are included in the accompanying consolidated balance sheets as deferred gains and other liabilities. The total amount of the Company’s obligation under the Deferred Compensation Plan will vary depending upon the level of participation by participants and the amount of compensation that participants elect to defer under the plan. The duration of the Deferred Compensation Plan is indefinite (subject to the Board of Directors’ discretion to amend or terminate the plan). | ||
MNOPF and MNRPF. Certain subsidiaries of the Company are participating employers in two industry-wide, multi-employer, defined benefit pension funds in the United Kingdom: the United Kingdom Merchant Navy Officers Pension Fund (“MNOPF”) and the United Kingdom Merchant Navy Ratings Pension Fund (“MNRPF”). The Company’s participation in the MNOPF and MNRPF began with SEACOR’s acquisition of the Stirling group of companies in 2001 and relates to the current and former employment of certain officers and ratings by the Company and/or Stirling’s predecessors from 1978 through today. Both of these plans are in deficit positions and, depending upon the results of future actuarial valuations, it is possible that the plans could experience funding deficits that will require the Company to recognize payroll related operating expenses in the periods invoices are received. | ||
Under the direction of a court order, any funding deficit of the MNOPF is to be remedied through funding contributions from all participating current and former employers. Prior to 2012, the Company was invoiced and expensed $16.7 million for its allocated share of the then cumulative funding deficits, including portions deemed uncollectible due to the non-existence or liquidation of certain former employers. During the year ended December 31, 2013, the Company was invoiced and expensed $2.7 million for its allocated share of an additional funding deficit based on an actuarial valuation of the MNOPF in 2012. | ||
The cumulative funding deficits of the MNRPF are currently being recovered by additional annual contributions from current employers that are subject to adjustment following the results of future tri-annual actuarial valuations. Prior to 2012, the Company was invoiced and expensed $0.4 million for its allocated share of the then cumulative funding deficits. During 2013, the MNRPF’s trustee has proposed a new deficit contribution scheme, which is pending court approval, whereby any funding deficit of the MNRPF is to be remedied through funding contributions from all participating current and former employers in a manner similar to the operation of the MNOPF. Based on an actuarial valuation in 2014, the potential cumulative funding deficit of the MNRPF was $506.3 million (£325.0 million). If the court approves the new proposed contribution scheme, the MNRPF’s trustee estimates the Company’s allocated share of the cumulative funding deficit to be $6.5 million (£4.2 million), including portions deemed uncollectible due to the non-existence or liquidation of certain former employers. | ||
AMOPP and SPP. Certain subsidiaries of the Company are participating employers in industry-wide, multi-employer defined benefit pension plans in the United States: the American Maritime Officers Pension Plan (EIN: 13-1936709) (the "AMOPP") and the Seafarers Pension Plan (EIN: 13-6100329) (the "SPP"). Certain subsidiaries of the Company also participates in the American Maritime Officers 401(k) Plan (EIN: 11-2978754) (the "AMO 401(k) Plan"), an industry-wide, multi-employer defined contribution plan. The Company’s participation in these plans relates to certain employees of the Company’s Shipping Services business segment. | ||
Under federal pension law, the AMOPP was deemed in critical status for the 2009 and 2010 plan years. The AMOPP was frozen in January 2010 and a ten year rehabilitation plan was adopted by the AMOPP trustees in February 2010 whereby benefit changes and increased contributions by participating employers were expected to improve the funded status of the AMOPP. The AMOPP was replaced by the AMO 401(k) Plan. On December 28, 2012, the AMOPP was elevated to endangered status primarily as a result of favorable investment performance and the rehabilitation plan adopted by the AMOPP trustees. Based on an actuarial valuation performed as of September 30, 2013, the latest period for which an actuarial valuation is available, if the Company chose to fully withdraw from the AMOPP at that time, its withdrawal liability would have been $46.5 million. That liability may change in future years based on various factors, primarily employee census. As of December 31, 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. | ||
The SPP was neither in endangered or critical status for the 2013 plan year, the latest period for which a report is available, as the SPP was fully funded. | ||
In accordance with collective bargaining agreements between the Company and the American Maritime Officers (“AMO”), the latest of which expires on August 31, 2016, and the Seafarers International Union (“SIU”), the latest of which expires on September 30, 2017, the Company makes periodic contributions to the AMOPP, SPP and AMO 401(k) Plan. The contributions to these plans are expensed as incurred and are included in operating expenses in the accompanying consolidated statements of income. During the years ended December 31, 2014, 2013 and 2012, the Company made contributions of $1.1 million, $0.9 million and $0.9 million, respectively, to the AMOPP and $1.5 million, $1.5 million and $1.3 million, respectively to the SPP. During the years ended December 31, 2014, 2013 and 2012, none of the Company’s contributions to the AMOPP or the SPP exceeded 5% of total contributions to the plans and the Company did not pay any material surcharges. As of December 31, 2014, there is no required minimum future contribution to the AMOPP or the SPP. The Company’s obligations for future contributions are based upon the number of employees subject to the collective bargaining agreements, their rates of pay and the number of days worked. | ||
Other Plans. Certain employees participate in other defined contribution plans in the United States and various international regions including the United Kingdom and Singapore. During the years ended December 31, 2014, 2013 and 2012, the Company incurred costs of $0.7 million, $0.5 million and $0.4 million, respectively, in the aggregate related to these plans, primarily from employer matching contributions. |
Share_Based_Compensation
Share Based Compensation | 12 Months Ended | |||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ||||||||||||||||||||||
Share Based Compensation | ||||||||||||||||||||||
13 | SHARE BASED COMPENSATION | |||||||||||||||||||||
Share Incentive Plans. SEACOR’s stockholders approved the 2014 Share Incentive Plan to provide for the grant of options to purchase shares of Common Stock, stock appreciation rights, restricted stock, stock awards, performance awards and restricted stock units to non-employee directors, key officers and employees of the Company. The 2014 Share Incentive Plan superseded the 2007 Share Incentive Plan, the 2003 Non-Employee Director Share Incentive Plan and the 2003 Share Incentive Plan (collectively including all predecessor plans, the “Share Incentive Plans”). The Compensation Committee of the Board of Directors administers the Share Incentive Plans. A total of 6,650,000 shares of Common Stock have been authorized for grant under the Share Incentive Plans. All shares issued pursuant to such grants are newly issued shares of Common Stock. The exercise price per share of options granted cannot be less than 100% of the fair market value of Common Stock at the date of grant under the Share Incentive Plans. Grants to date have been limited to stock awards, restricted stock, restricted stock units and options to purchase shares of Common Stock. | ||||||||||||||||||||||
Restricted stock and restricted stock units typically vest from one to five years after grant and options to purchase shares of Common Stock typically vest and become exercisable from one to five years after date of grant. Options to purchase shares of Common Stock granted under the Share Incentive Plans expire no later than the tenth anniversary of the date of grant. In the event of a participant’s death, retirement, termination by the Company without cause or a change in control of the Company, as defined in the Share Incentive Plans, restricted stock and restricted stock units vest immediately and options to purchase shares of Common Stock vest and become immediately exercisable. | ||||||||||||||||||||||
Employee Stock Purchase Plans. SEACOR’s stockholders approved the 2009 Employee Stock Purchase Plan with a term of ten years (collectively including all predecessor plans, the “Employee Stock Purchase Plans”) to permit the Company to offer Common Stock for purchase by eligible employees at a price equal to 85% of the lesser of (i) the fair market value of Common Stock on the first day of the offering period or (ii) the fair market value of Common Stock on the last day of the offering period. Common Stock is made available for purchase under the Employee Stock Purchase Plans for six-month offering periods. The Employee Stock Purchase Plans are intended to comply with Section 423 of the Internal Revenue Code of 1986, as amended (the “Code”), but is not intended to be subject to Section 401(a) of the Code or the Employee Retirement Income Security Act of 1974. The Board of Directors of SEACOR may amend or terminate the Employee Stock Purchase Plans at any time; however, no increase in the number of shares of Common Stock reserved for issuance under the Employee Stock Purchase Plans may be made without stockholder approval. A total of 600,000 shares of Common Stock have been approved for purchase under the Employee Stock Purchase Plans with all shares issued from those held in treasury. | ||||||||||||||||||||||
Share Award Transactions. The following transactions have occurred in connection with the Company’s share based compensation plans during the years ended December 31: | ||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||
Restricted stock awards granted | 150,145 | 148,300 | 134,600 | |||||||||||||||||||
Restricted stock awards forfeited | (1,325 | ) | (18,000 | ) | (2,120 | ) | ||||||||||||||||
Director stock awards granted | 2,625 | 2,500 | 4,000 | |||||||||||||||||||
Restricted Stock Unit Activities: | ||||||||||||||||||||||
Outstanding as of the beginning of year | — | — | 1,130 | |||||||||||||||||||
Granted | — | — | — | |||||||||||||||||||
Converted to shares | — | — | (1,130 | ) | ||||||||||||||||||
Outstanding as of the end of year | — | — | — | |||||||||||||||||||
Shares released from Deferred Compensation Plan | (216 | ) | (1,692 | ) | — | |||||||||||||||||
Stock Option Activities: | ||||||||||||||||||||||
Outstanding as of the beginning of year | 1,481,280 | 1,281,821 | 1,272,192 | |||||||||||||||||||
Granted(1) | 199,100 | 529,912 | 173,700 | |||||||||||||||||||
Exercised | (133,872 | ) | (328,077 | ) | (149,781 | ) | ||||||||||||||||
Forfeited | — | (800 | ) | — | ||||||||||||||||||
Expired | — | (1,576 | ) | (14,290 | ) | |||||||||||||||||
Outstanding as of the end of year | 1,546,508 | 1,481,280 | 1,281,821 | |||||||||||||||||||
Employee Stock Purchase Plan shares issued | 30,622 | 31,586 | 39,980 | |||||||||||||||||||
Shares available for issuance under Share Incentive and Employee Stock Purchase Plans as of the end of year | 1,127,328 | 508,495 | 1,200,417 | |||||||||||||||||||
______________________ | ||||||||||||||||||||||
-1 | During the year ended December 31, 2013, the Company granted 318,012 stock options to existing option holders, net of share award settlements for Era Group employees and directors, under make-whole provisions upon the Spin-off of Era Group. | |||||||||||||||||||||
During the years ended December 31, 2014, 2013 and 2012, the Company recognized $15.3 million, $14.5 million and $33.3 million, respectively, of compensation expense related to stock awards, stock options, employee stock purchase plan purchases, restricted stock and restricted stock units (collectively referred to as “share awards”). As of December 31, 2014, the Company had approximately $31.2 million in total unrecognized compensation costs of which $11.4 million and $8.5 million are expected to be recognized in 2015 and 2016, respectively, with the remaining balance recognized through 2019. | ||||||||||||||||||||||
The weighted average values of grants under the Company’s Share Incentive Plans were $53.03, $43.74 and $58.22 for the years ended December 31, 2014, 2013 and 2012, respectively. The fair value of each option granted during the years ended December 31, 2014, 2013 and 2012 is estimated on the date of grant using the Black-Scholes option-pricing model with the following assumptions: (a) no dividend yield, (b) weighted average expected volatility of 29.4%, 30.5% and 31.0%, respectively, (c) weighted average discount rates of 1.85%, 1.53% and 0.81%, respectively, and (d) expected lives of 5.92 years, 5.96 years and 5.91 years, respectively. | ||||||||||||||||||||||
During the year ended December 31, 2014, the number of shares and the weighted average grant price of restricted stock transactions were as follows: | ||||||||||||||||||||||
Restricted Stock | ||||||||||||||||||||||
Number of | Weighted | |||||||||||||||||||||
Shares | Average | |||||||||||||||||||||
Grant Price | ||||||||||||||||||||||
Nonvested as of December 31, 2013(1) | 302,370 | $ | 70.61 | |||||||||||||||||||
Granted | 150,145 | $ | 88.6 | |||||||||||||||||||
Vested | (52,730 | ) | $ | 69.98 | ||||||||||||||||||
Forfeited | (1,325 | ) | $ | 75.07 | ||||||||||||||||||
Nonvested as of December 31, 2014 | 398,460 | $ | 77.46 | |||||||||||||||||||
______________________ | ||||||||||||||||||||||
-1 | During the year ended December 31, 2013, the weighted average grant prices of restricted stock outstanding at the time of the Spin-off were reduced based on a ratio of the relative market value of the Company's share price immediately prior to and after the effective date of the Spin-off. | |||||||||||||||||||||
During the years ended December 31, 2014, 2013 and 2012, the total grant date fair value of restricted stock and restricted stock units that vested was $3.7 million, $3.7 million and $38.1 million, respectively. During the year ended December 31, 2013, the Company recognized additional compensation expense of $3.3 million as a consequence of a partial acceleration of the vesting of restricted stock upon the Company's restricted stockholders receiving one fully vested Era share for each SEACOR restricted share held on the effective date of the Spin-off by means of a dividend. During the year ended December 31, 2012, the Company accelerated the vesting date for all restricted stock and restricted stock units that were scheduled to vest in 2013 and 2014 into 2012 resulting in additional compensation expense of $12.2 million, including discontinued operations. | ||||||||||||||||||||||
During the year ended December 31, 2014, the number of shares, the weighted average grant date fair value and the weighted average exercise price on stock option transactions were as follows: | ||||||||||||||||||||||
Nonvested Options | Vested/Exercisable Options | Total Options | ||||||||||||||||||||
Number of | Weighted | Number of | Weighted | Number of | Weighted | |||||||||||||||||
Shares | Average | Shares | Average | Shares | Average | |||||||||||||||||
Grant Date | Exercise Price | Exercise Price | ||||||||||||||||||||
Fair Value | ||||||||||||||||||||||
Outstanding, as of | 651,606 | $ | 23.36 | 829,674 | $ | 50.42 | 1,481,280 | $ | 57.95 | |||||||||||||
December 31, 2013(1) | ||||||||||||||||||||||
Granted | 199,100 | $ | 25.84 | — | 199,100 | $ | 80.69 | |||||||||||||||
Vested | (245,095 | ) | $ | 22.53 | 245,095 | $ | 62.96 | — | $ | — | ||||||||||||
Exercised | — | $ | — | (133,872 | ) | $ | 44.49 | (133,872 | ) | $ | 44.49 | |||||||||||
Outstanding, as of | 605,611 | $ | 24.51 | 940,897 | $ | 54.53 | 1,546,508 | $ | 62.04 | |||||||||||||
31-Dec-14 | ||||||||||||||||||||||
______________________ | ||||||||||||||||||||||
-1 | During the year ended December 31, 2013, the weighted average grant date fair values and weighted average exercise prices of stock options outstanding at the time of the Spin-off were reduced based on a ratio of the relative market value of the Company's share price immediately prior to and after the effective date of the Spin-off. | |||||||||||||||||||||
During the years ended December 31, 2014, 2013 and 2012, the aggregate intrinsic value of exercised stock options was $5.1 million, $10.5 million and $7.0 million, respectively. As of December 31, 2014, the weighted average remaining contractual term for total outstanding stock options and vested/exercisable stock options was 5.59 and 4.18 years, respectively. As of December 31, 2014, the aggregate intrinsic value of all options outstanding and all vested/exercisable options outstanding was $21.3 million and $18.6 million, respectively. | ||||||||||||||||||||||
As a result of the Spin-off during the year ended December 31, 2013, the Company reduced the exercise prices for all outstanding stock options and granted additional stock options to existing option holders based on a ratio of the relative market value of its share price immediately prior to and after the effective date of the Spin-off. As a result of these adjustments, both the aggregate intrinsic value and the ratio of the exercise price to the market price were approximately equal immediately prior to and after the effective date of the Spin-off. As these adjustments were made in accordance with the anti-dilution provisions of the Share Incentive Plans, no compensation expense was recognized for the adjustments. | ||||||||||||||||||||||
As a result of the Special Cash Dividend (see Note 10) paid during the year ended December 31, 2012, the Company reduced the exercise prices for all outstanding stock options as of the Special Cash Dividend record date by the dividend amount of $5.00. As a result of this adjustment, both the aggregate intrinsic value and the ratio of the exercise price to the market price were approximately equal immediately prior to and after the Special Cash Dividend record date. As this adjustment was made in accordance with the anti-dilution provisions of the Share Incentive Plans, no compensation expense was recognized for the adjustments. |
Related_Party_Transactions
Related Party Transactions | 12 Months Ended | |
Dec. 31, 2014 | ||
Related Party Transactions [Abstract] | ||
Related Party Transactions | ||
14 | RELATED PARTY TRANSACTIONS | |
The Company manages barge pools as part of its Inland River Services segment. Pursuant to the pooling agreements, operating revenues and expenses of participating barges are combined and the net results are allocated on a pro-rata basis based on the number of barge days contributed by each participant. Companies controlled by Mr. Fabrikant,the Executive Chairman of SEACOR, and trusts for the benefit of Mr. Fabrikant’s children, own barges that participate in the barge pools managed by the Company. Mr. Fabrikant and his affiliates were participants in the barge pools prior to the acquisition of SCF Marine Inc. by SEACOR in 2000. In the years ended December 31, 2014, 2013 and 2012, Mr. Fabrikant and his affiliates earned $1.7 million, $0.9 million and $0.8 million, respectively, of net barge pool results (after payment of $0.2 million, $0.2 million and $0.1 million, respectively, in management fees to the Company). As of December 31, 2014 and 2013, the Company owed Mr. Fabrikant and his affiliates $1.1 million and $0.6 million, respectively, for undistributed net barge pool results. Mr. Fabrikant and his affiliates participate in the barge pools on the same terms and conditions as other pool participants who are unrelated to the Company. | ||
ICP manufactures and sells certain non-ethanol alcohol finished goods to the noncontrolling interest partner in ICP. During the year ended December 31, 2012, the noncontrolling interest partner operated under a marketing agreement with ICP for non-ethanol alcohol production, which expired on January 1, 2013. During the year ended December 31, 2013, ICP continued to sell non-ethanol alcohol finished goods to the noncontrolling interest partner for resale purposes and also independently sold non-ethanol alcohol finished goods directly to unrelated third party customers. During the years ended December 31, 2014, 2013 and 2012, the Company sold $36.3 million, $6.6 million and $44.8 million, respectively to the noncontrolling interest partner. As of December 31, 2014 and 2013, ICP had accounts receivable of $3.3 million and $1.8 million from the noncontrolling interest partner. The noncontrolling interest partner has payment terms comparable to other ICP customers purchasing the same types of non-ethanol alcohol finished goods. | ||
In December 2014 and January 2015, Charles Fabrikant, Oivind Lorentzen and John Gellert invested in newly formed limited liability companies that acquired limited partnership interests in SEACOR OSV Partners I LP (“OSV”) from two limited partners of OSV that are not affiliated with the Company and wished to dispose of their interests. Messrs. Fabrikant, Lorentzen and Gellert each invested $0.2 million in the aggregate in the newly formed limited liability companies and are committed to contribute additional capital to such company if OSV calls capital from its limited partners. The additional amounts Messrs. Fabrikant, Lorentzen and Gellert are committed to contribute are not material. The aggregate interests of OSV acquired indirectly by Messrs. Fabrikant, Lorentzen and Gellert represents 1.7% of the limited partnership interests of OSV. Certain subsidiaries of SEACOR own 30.4% of OSV’s limited partnership interests and the balance of such interests are owned by unaffiliated third parties. The general partner of OSV is a joint venture managed by a subsidiary of SEACOR and an unaffiliated third party. | ||
Mr. Fabrikant is also a director of Diamond Offshore Drilling, Inc. (“Diamond”), which is also a customer of the Company. The total amount earned from business conducted with Diamond did not exceed $5.0 million in any of the years ended December 31, 2014, 2013 and 2012. | ||
Messrs. Fabrikant and Lorentzen are also directors of Era Group, which is also a customer of the Company. Furthermore, following the Spin-Off, the Company has provided certain transition services to Era Group. The total amount earned from business conducted with Era, including transition services provided, did not exceed $5.0 million during the years ended December 31, 2014 and 2013. |
Commitments_And_Contingencies
Commitments And Contingencies | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Commitments and Contingencies Disclosure [Abstract] | |||||||||||||
Commitments And Contingencies | |||||||||||||
15 | COMMITMENTS AND CONTINGENCIES | ||||||||||||
As of December 31, 2014, the Company's unfunded capital commitments were $490.7 million and included: $184.4 million for 18 offshore support vessels; $1.6 million for two 30,000 barrel inland river liquid tank barges; $3.2 million for four inland river towboats; $230.1 million for three U.S.-flag product tankers; $56.3 million for one U.S.-flag articulated tug-barge; and $15.1 million for other equipment and improvements. Of these commitments, $247.3 million is payable during 2015; $204.0 million is payable during 2016; $34.0 million is payable during 2017; and $5.4 million is payable during 2018. Subsequent to December 31, 2014, the Company committed to purchase eight 10,000 barrel inland river liquid tank barges and other equipment for $15.1 million. | |||||||||||||
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 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, NRC, a subsidiary of the Company prior to the SES Business Transaction, and ORM were named as defendants in one of the several consolidated “master complaints” that have been filed in the overall MDL. The "B3" 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. On July 17, 2014, the Court issued a pretrial order that established a protocol for disclosures clarifying the basis for the “B3” claims asserted against the Clean-Up Responder Defendants, including ORM and NRC, in the MDL. Under this protocol, Plaintiffs who satisfy certain criteria and believe they have specific evidence in support of their claims, including that any Clean-Up Responder Defendant(s) failed to act pursuant to the authority and direction of the federal government in conducting Deepwater Horizon oil spill remediation and clean-up operations, must submit a sworn statement or face dismissal. Plaintiffs’ deadline to serve such sworn statements in support of their claims was September 22, 2014, with the exception of several Plaintiffs who were granted an extension until October 10, 2014. On November 14, 2014, the Clean-Up Responder Defendants and the Plaintiffs’ Steering Committee in the MDL submitted a joint report to the Court regarding claimants’ compliance with the pretrial order. In this joint report, the parties (i) explained how they complied with the notice requirements of Court’s July 17, 2014 pretrial order, (ii) noted that they had received 102 sworn statements in connection with this pretrial order, and (iii) provided the Court with an assessment of the sworn statements received. Procedures and next steps in connection with the “B3” claims will now be addressed by the Court. 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 October 20, 2014, the Company moved for summary judgment, seeking dismissal with prejudice of all of the Company employee’s claims in the MDL in light of the Court’s prior rulings. This motion is still pending decision. 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 sought 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 ("Cameron"), Halliburton Energy Services, Inc., and M-I L.L.C. ("M-I") 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 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. Transocean's limitation action, and thus the remainder of the aforementioned cross-claims, remains pending, although the Court has found Cameron and M-I to be not liable in connection with the Deepwater Horizon incident and resultant oil spill and dismissed these parties from the MDL. 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, nor 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's 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. 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. | |||||||||||||
ORM is defending against one collective action lawsuit, which asserts failure to pay overtime with respect to individuals who provided service on the Deepwater Horizon oil spill response under the Fair Labor Standards Act (“FLSA”). This case, Himmerite et al. v. O'Brien's Response Management Inc. et al. (E.D. La., Case No.: 2:12-cv-01533) (the “Himmerite Action”), was brought on behalf of certain individuals who worked on the Deepwater Horizon oil spill response and who were classified as independent contractors. On February 19, 2015, the parties reached a full and final settlement agreement with respect to all of the Plaintiffs’ claims for an undisclosed immaterial amount. The parties intend to file related documents with the Court to have the matter dismissed with prejudice in its entirety. | |||||||||||||
In a related action, Dennis Prejean v. O'Brien's Response Management Inc. (E.D. La., Case No.: 2:12-cv-01045) (the “Prejean 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 Himmerite Action, the parties reached a full and final settlement agreement on November 6, 2014 with respect to all of the Plaintiffs’ claims for an undisclosed amount. On November 19, 2014, the Court approved the parties’ settlement and dismissed the Prejean Action with prejudice in its entirety. | |||||||||||||
In a third 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 Plaintiffs' 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, the Company remains contingently liable for certain obligations, including potential liabilities relating to work performed in connection with the Deepwater Horizon oil spill response. Pursuant to the agreement governing the sale, the Company's potential liability to the purchaser may not exceed the consideration received by the Company for the SES Business Transaction. The Company is currently indemnified under contractual agreements with BP for the potential liabilities relating to work performed in connection with the Deepwater Horizon oil spill response. | |||||||||||||
During the twelve months ended December 31, 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. | |||||||||||||
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. | |||||||||||||
As of December 31, 2014, the Company leases 16 offshore support vessels, two dry-cargo barges, eight 30,000 barrel liquid tank barges, three U.S.-flag product tankers, nine U.S.-flag harbor tugs and certain facilities and other equipment. These leasing agreements have been classified as operating leases for financial reporting purposes and related rental fees are charged to expense over the lease terms. The leases generally contain purchase and lease renewal options or rights of first refusal with respect to the sale or lease of the equipment. The remaining lease terms of the U.S.-flag product tankers, which are subject to subleases, have durations of 93 and 109 months. The lease terms of the other equipment range in duration from one to 18 years. Certain of the equipment leases are the result of sale-leaseback transactions with finance companies (see Note 2) and certain of the gains arising from such sale-leaseback transactions have been deferred in the accompanying consolidated balance sheets and are being amortized as reductions in rental expense over the lease terms (see Note 1). | |||||||||||||
Total rental expense for the Company’s operating leases in 2014, 2013 and 2012 was $66.8 million, $70.9 million and $57.9 million, respectively. Future minimum payments in the years ended December 31 under operating leases that have a remaining term in excess of one year as of December 31, 2014 were as follows (in thousands): | |||||||||||||
Total Minimum | Non-cancelable | Net Minimum | |||||||||||
Payments | Subleases(1) | Payments | |||||||||||
2015 | $ | 64,289 | $ | (17,345 | ) | $ | 46,944 | ||||||
2016 | 62,567 | (17,392 | ) | 45,175 | |||||||||
2017 | 67,612 | (17,345 | ) | 50,267 | |||||||||
2018 | 47,730 | (17,345 | ) | 30,385 | |||||||||
2019 | 43,286 | (17,345 | ) | 25,941 | |||||||||
Years subsequent to 2019 | 98,914 | (58,782 | ) | 40,132 | |||||||||
______________________ | |||||||||||||
-1 | The total minimum offsetting payments to be received under existing long-term bareboat charter-out arrangements. |
Major_Customers_And_Segment_In
Major Customers And Segment Information | 12 Months Ended | |||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||
Segment Reporting [Abstract] | ||||||||||||||||||||||
Major Customers And Segment Information | ||||||||||||||||||||||
16 | MAJOR CUSTOMERS AND SEGMENT INFORMATION | |||||||||||||||||||||
The following tables summarize the operating results, capital expenditures and assets of the Company’s reportable segments. | ||||||||||||||||||||||
Offshore | Inland | Shipping | ICP(1)(2) $’000 | Other | Corporate | Total | ||||||||||||||||
Marine | River | Services | $’000 | and | $’000 | |||||||||||||||||
Services | Services | $’000 | Eliminations | |||||||||||||||||||
$’000 | $’000 | $’000 | ||||||||||||||||||||
For the year ended December 31, 2014 | ||||||||||||||||||||||
Operating Revenues: | ||||||||||||||||||||||
External customers | 529,761 | 249,288 | 214,316 | 236,293 | 89,736 | — | 1,319,394 | |||||||||||||||
Intersegment | 183 | 3,862 | — | — | — | (4,045 | ) | — | ||||||||||||||
529,944 | 253,150 | 214,316 | 236,293 | 89,736 | (4,045 | ) | 1,319,394 | |||||||||||||||
Costs and Expenses: | ||||||||||||||||||||||
Operating | 365,092 | 174,918 | 112,771 | 187,849 | 72,644 | (3,902 | ) | 909,372 | ||||||||||||||
Administrative and general | 58,353 | 15,937 | 24,518 | 2,177 | 25,137 | 38,816 | 164,938 | |||||||||||||||
Depreciation and amortization | 64,615 | 29,435 | 28,420 | 4,119 | 1,329 | 3,901 | 131,819 | |||||||||||||||
488,060 | 220,290 | 165,709 | 194,145 | 99,110 | 38,815 | 1,206,129 | ||||||||||||||||
Gains (Losses) on Asset Dispositions and Impairments, Net | 26,545 | 29,657 | 159 | — | (1,077 | ) | (3,306 | ) | 51,978 | |||||||||||||
Operating Income (Loss) | 68,429 | 62,517 | 48,766 | 42,148 | (10,451 | ) | (46,166 | ) | 165,243 | |||||||||||||
Other Income (Expense): | ||||||||||||||||||||||
Derivative gains (losses), net | (171 | ) | — | — | (3,777 | ) | 270 | (224 | ) | (3,902 | ) | |||||||||||
Foreign currency losses, net | (1,375 | ) | (3,335 | ) | (40 | ) | — | (155 | ) | (1,430 | ) | (6,335 | ) | |||||||||
Other, net | 14,671 | (38 | ) | (3,630 | ) | 660 | (8,153 | ) | (71 | ) | 3,439 | |||||||||||
Equity in Earnings (Losses) of 50% or Less Owned Companies, Net of Tax | 10,468 | 6,673 | (661 | ) | — | (171 | ) | — | 16,309 | |||||||||||||
Segment Profit (Loss) | 92,022 | 65,817 | 44,435 | 39,031 | (18,660 | ) | ||||||||||||||||
Other Income (Expense) not included in Segment Profit | 4,790 | |||||||||||||||||||||
Less Equity Earnings included in Segment Profit | (16,309 | ) | ||||||||||||||||||||
Income Before Taxes, Equity Earnings and Discontinued Operations | 163,235 | |||||||||||||||||||||
Capital Expenditures of Continuing Operations | 83,513 | 58,481 | 199,602 | 3,108 | 148 | 15,785 | 360,637 | |||||||||||||||
As of December 31, 2014 | ||||||||||||||||||||||
Property and Equipment: | ||||||||||||||||||||||
Historical cost | 1,060,986 | 491,079 | 453,862 | 47,256 | 3,613 | 30,161 | 2,086,957 | |||||||||||||||
Accumulated depreciation | (500,007 | ) | (159,532 | ) | (213,072 | ) | (15,488 | ) | (3,249 | ) | (10,936 | ) | (902,284 | ) | ||||||||
560,979 | 331,547 | 240,790 | 31,768 | 364 | 19,225 | 1,184,673 | ||||||||||||||||
Construction in progress | 87,935 | 27,415 | 201,554 | 718 | 234 | 144 | 318,000 | |||||||||||||||
648,914 | 358,962 | 442,344 | 32,486 | 598 | 19,369 | 1,502,673 | ||||||||||||||||
Investments, at Equity, and Advances to 50% or Less Owned Companies | 115,436 | 103,688 | 222,420 | — | 42,613 | — | 484,157 | |||||||||||||||
Inventories | 5,570 | 2,536 | 1,030 | 11,170 | 2,477 | — | 22,783 | |||||||||||||||
Goodwill | 13,367 | 2,573 | 1,852 | — | 44,967 | — | 62,759 | |||||||||||||||
Intangible Assets | 1,917 | 6,483 | 292 | — | 24,035 | — | 32,727 | |||||||||||||||
Other current and long-term assets, excluding cash and near cash assets(3) | 128,499 | 99,335 | 23,910 | 11,538 | 71,678 | 18,330 | 353,290 | |||||||||||||||
Segment Assets | 913,703 | 573,577 | 691,848 | 55,194 | 186,368 | |||||||||||||||||
Cash and near cash assets(3) | 786,644 | |||||||||||||||||||||
Total Assets | 3,245,033 | |||||||||||||||||||||
______________________ | ||||||||||||||||||||||
-1 | Operating revenues includes $224.4 million of tangible product sales and operating expenses includes $175.8 million of costs of goods sold. | |||||||||||||||||||||
-2 | Inventories include raw materials of $2.2 million and work in process of $1.7 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(1)(2) $’000 | Other | Corporate | Total | ||||||||||||||||
Marine | River | Services | $’000 | and | $’000 | |||||||||||||||||
Services | Services | $’000 | Eliminations | |||||||||||||||||||
$’000 | $’000 | $’000 | ||||||||||||||||||||
For the year ended December 31, 2013 | ||||||||||||||||||||||
Operating Revenues: | ||||||||||||||||||||||
External customers | 567,148 | 212,726 | 194,184 | 193,682 | 79,532 | — | 1,247,272 | |||||||||||||||
Intersegment | 115 | 2,887 | — | — | — | (3,002 | ) | — | ||||||||||||||
567,263 | 215,613 | 194,184 | 193,682 | 79,532 | (3,002 | ) | 1,247,272 | |||||||||||||||
Costs and Expenses: | ||||||||||||||||||||||
Operating | 382,045 | 152,527 | 117,283 | 184,649 | 75,254 | (2,887 | ) | 908,871 | ||||||||||||||
Administrative and general | 60,279 | 15,410 | 22,073 | 2,031 | 6,296 | 35,259 | 141,348 | |||||||||||||||
Depreciation and amortization | 65,424 | 28,461 | 31,299 | 5,797 | 378 | 3,159 | 134,518 | |||||||||||||||
507,748 | 196,398 | 170,655 | 192,477 | 81,928 | 35,531 | 1,184,737 | ||||||||||||||||
Gains on Asset Dispositions and Impairments, Net | 28,664 | 6,555 | 240 | — | 1,907 | 141 | 37,507 | |||||||||||||||
Operating Income (Loss) | 88,179 | 25,770 | 23,769 | 1,205 | (489 | ) | (38,392 | ) | 100,042 | |||||||||||||
Other Income (Expense): | ||||||||||||||||||||||
Derivative gains (losses), net | 83 | — | — | (2,078 | ) | 210 | (6,538 | ) | (8,323 | ) | ||||||||||||
Foreign currency losses, net | (2,209 | ) | (167 | ) | (14 | ) | — | (342 | ) | (619 | ) | (3,351 | ) | |||||||||
Other, net | 3 | — | 760 | — | 12 | (189 | ) | 586 | ||||||||||||||
Equity in Earnings (Losses) of 50% or Less Owned Companies, Net of Tax | 13,522 | (7,626 | ) | (2,945 | ) | — | 4,313 | — | 7,264 | |||||||||||||
Segment Profit (Loss) | 99,578 | 17,977 | 21,570 | (873 | ) | 3,704 | ||||||||||||||||
Other Income (Expense) not included in Segment Profit | (21,322 | ) | ||||||||||||||||||||
Less Equity Losses included in Segment Profit | (7,264 | ) | ||||||||||||||||||||
Income Before Taxes, Equity Earnings and Discontinued Operations | 67,632 | |||||||||||||||||||||
Capital Expenditures of Continuing Operations | 111,517 | 37,360 | 43,713 | 1,115 | 385 | 1,811 | 195,901 | |||||||||||||||
As of December 31, 2013 | ||||||||||||||||||||||
Property and Equipment: | ||||||||||||||||||||||
Historical cost | 1,139,639 | 481,421 | 498,951 | 44,166 | 3,967 | 31,039 | 2,199,183 | |||||||||||||||
Accumulated depreciation | (471,590 | ) | (147,698 | ) | (223,667 | ) | (11,390 | ) | (662 | ) | (11,323 | ) | (866,330 | ) | ||||||||
668,049 | 333,723 | 275,284 | 32,776 | 3,305 | 19,716 | 1,332,853 | ||||||||||||||||
Construction in progress | 102,452 | 28,855 | 11,324 | 738 | 113 | — | 143,482 | |||||||||||||||
Property and Equipment | 770,501 | 362,578 | 286,608 | 33,514 | 3,418 | 19,716 | 1,476,335 | |||||||||||||||
Investments, at Equity, and Advances to 50% or Less Owned Companies | 99,160 | 55,411 | 197,145 | — | 89,137 | — | 440,853 | |||||||||||||||
Inventories | 6,315 | 2,279 | 1,329 | 16,172 | 1,520 | — | 27,615 | |||||||||||||||
Goodwill | 13,367 | 2,766 | 1,852 | — | — | — | 17,985 | |||||||||||||||
Intangible Assets | 3,650 | 7,568 | 859 | 7 | 339 | — | 12,423 | |||||||||||||||
Other current and long-term assets, excluding cash and near cash assets(3) | 149,239 | 69,267 | 15,097 | 5,409 | 47,584 | 28,785 | 315,381 | |||||||||||||||
Segment Assets | 1,042,232 | 499,869 | 502,890 | 55,102 | 141,998 | |||||||||||||||||
Cash and near cash assets(3) | 825,641 | |||||||||||||||||||||
Discontinued operations | — | |||||||||||||||||||||
Total Assets | 3,116,233 | |||||||||||||||||||||
______________________ | ||||||||||||||||||||||
-1 | Operating revenues includes $191.6 million of tangible product sales and operating expenses includes $184.6 million of costs of goods sold. | |||||||||||||||||||||
-2 | Inventories include raw materials of $1.8 million and work in process of $1.8 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(1)(2) $’000 | Other | Corporate | Total | ||||||||||||||||
Marine | River | Services | $’000 | and | $’000 | |||||||||||||||||
Services | Services | $’000 | Eliminations | |||||||||||||||||||
$’000 | $’000 | $’000 | ||||||||||||||||||||
For the year ended December 31, 2012 | ||||||||||||||||||||||
Operating Revenues: | ||||||||||||||||||||||
External customers | 519,707 | 224,409 | 179,928 | 188,650 | 195,603 | — | 1,308,297 | |||||||||||||||
Intersegment | 110 | 2,152 | 108 | — | 128 | (2,498 | ) | — | ||||||||||||||
519,817 | 226,561 | 180,036 | 188,650 | 195,731 | (2,498 | ) | 1,308,297 | |||||||||||||||
Costs and Expenses: | ||||||||||||||||||||||
Operating | 349,680 | 158,596 | 112,125 | 183,442 | 175,957 | (2,331 | ) | 977,469 | ||||||||||||||
Administrative and general | 59,253 | 15,924 | 22,553 | 1,920 | 23,824 | 43,269 | 166,743 | |||||||||||||||
Depreciation and amortization | 61,542 | 28,270 | 30,635 | 5,757 | 2,874 | 2,589 | 131,667 | |||||||||||||||
470,475 | 202,790 | 165,313 | 191,119 | 202,655 | 43,527 | 1,275,879 | ||||||||||||||||
Gains (Losses) on Asset Dispositions and Impairments, Net | 14,876 | 7,666 | 3,128 | — | (1,527 | ) | (156 | ) | 23,987 | |||||||||||||
Operating Income (Loss) | 64,218 | 31,437 | 17,851 | (2,469 | ) | (8,451 | ) | (46,181 | ) | 56,405 | ||||||||||||
Other Income (Expense): | ||||||||||||||||||||||
Derivative gains (losses), net | (243 | ) | — | — | (856 | ) | 910 | (2,623 | ) | (2,812 | ) | |||||||||||
Foreign currency gains, net | 1,077 | 84 | 6 | — | 2 | 462 | 1,631 | |||||||||||||||
Other, net | 2 | (1 | ) | 7,452 | — | — | (305 | ) | 7,148 | |||||||||||||
Equity in Earnings (Losses) of 50% or Less Owned Companies, Net of Tax | 5,214 | (3,310 | ) | (4,148 | ) | 6,154 | (9,674 | ) | — | (5,764 | ) | |||||||||||
Segment Profit (Loss) | 70,268 | 28,210 | 21,161 | 2,829 | (17,213 | ) | ||||||||||||||||
Other Income (Expense) not included in Segment Profit | (7,800 | ) | ||||||||||||||||||||
Less Equity Earnings included in Segment Profit | 5,764 | |||||||||||||||||||||
Income Before Taxes, Equity Earnings and Discontinued Operations | 54,572 | |||||||||||||||||||||
Capital Expenditures of Continuing Operations | 168,778 | 28,818 | 31,235 | 96 | 6,576 | 3,847 | 239,350 | |||||||||||||||
As of December 31, 2012 | ||||||||||||||||||||||
Property and Equipment | ||||||||||||||||||||||
Historical cost | 1,158,169 | 491,653 | 506,054 | 43,789 | 8,276 | 30,442 | 2,238,383 | |||||||||||||||
Accumulated depreciation | (422,564 | ) | (127,112 | ) | (198,943 | ) | (5,679 | ) | (398 | ) | (9,107 | ) | (763,803 | ) | ||||||||
735,605 | 364,541 | 307,111 | 38,110 | 7,878 | 21,335 | 1,474,580 | ||||||||||||||||
Construction in progress | 66,088 | 11,122 | 29,972 | — | 3,040 | 74 | 110,296 | |||||||||||||||
801,693 | 375,663 | 337,083 | 38,110 | 10,918 | 21,409 | 1,584,876 | ||||||||||||||||
Investments, at Equity, and Advances to 50% or Less Owned Companies | 66,805 | 53,844 | 67,023 | — | 84,863 | — | 272,535 | |||||||||||||||
Inventories | 6,779 | 2,623 | 1,728 | 11,770 | 2,887 | — | 25,787 | |||||||||||||||
Goodwill | 13,367 | 2,759 | 1,852 | — | — | — | 17,978 | |||||||||||||||
Intangible Assets | 4,086 | 9,214 | 1,410 | 93 | 502 | — | 15,305 | |||||||||||||||
Other current and long-term assets, excluding cash and near cash assets(1) | 139,757 | 75,661 | 14,183 | 6,533 | 72,123 | 33,393 | 341,650 | |||||||||||||||
Segment Assets | 1,032,487 | 519,764 | 423,279 | 56,506 | 171,293 | |||||||||||||||||
Cash and near cash assets(3) | 493,786 | |||||||||||||||||||||
Discontinued operations | 948,877 | |||||||||||||||||||||
Total Assets | 3,700,794 | |||||||||||||||||||||
______________________ | ||||||||||||||||||||||
-1 | Operating revenues includes $184.9 million of tangible product sales and operating expenses includes $179.7 million of costs of goods sold. | |||||||||||||||||||||
-2 | Inventories include raw materials of $2.4 million and work in process of $1.8 million. | |||||||||||||||||||||
-3 | Cash and near cash assets includes cash, cash equivalents, restricted cash, marketable securities, construction reserve funds and Title XI reserve funds. | |||||||||||||||||||||
In the years ended December 31, 2014, 2013 and 2012, the Company did not earn revenues that were greater than or equal to 10% of total revenues from a single customer. For the years ended December 31, 2014, 2013 and 2012, approximately 30%, 32% and 37%, respectively, of the Company’s operating revenues were derived from its foreign operations. The Company’s foreign revenues are primarily derived from its Offshore Marine Services fleet and certain of its Inland River and Shipping Services fleets. These assets are highly mobile and regularly and routinely move between countries within a geographical region of the world. In addition, these assets may be redeployed among the geographical regions as changes in market conditions dictate. Because of this asset mobility, revenues and long-lived assets, primarily property and equipment, in any one country are not considered material. The following represents the Company’s revenues attributed by geographical region in which services are provided to customers for the years ended December 31 (in thousands): | ||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||
Operating Revenues: | ||||||||||||||||||||||
United States | $ | 925,750 | $ | 845,056 | $ | 823,693 | ||||||||||||||||
Africa, primarily West Africa | 70,743 | 79,991 | 75,484 | |||||||||||||||||||
Europe, primarily North Sea | 112,644 | 101,834 | 107,766 | |||||||||||||||||||
Asia | 22,393 | 26,203 | 21,039 | |||||||||||||||||||
Middle East | 47,205 | 51,930 | 49,941 | |||||||||||||||||||
Brazil, Mexico, Central and South America | 140,460 | 142,258 | 229,986 | |||||||||||||||||||
Other | 199 | — | 388 | |||||||||||||||||||
$ | 1,319,394 | $ | 1,247,272 | $ | 1,308,297 | |||||||||||||||||
The Company’s long-lived assets are primarily its property and equipment that are employed in various geographical regions of the world. The following represents the Company’s property and equipment based upon the assets’ physical location as of December 31 (in thousands): | ||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||
Property and Equipment: | ||||||||||||||||||||||
United States | $ | 1,120,765 | $ | 1,094,370 | $ | 1,158,038 | ||||||||||||||||
Africa, primarily West Africa | 82,495 | 73,137 | 77,860 | |||||||||||||||||||
Europe, primarily North Sea | 75,382 | 93,713 | 97,631 | |||||||||||||||||||
Asia | 19,807 | 21,485 | 25,305 | |||||||||||||||||||
Middle East | 64,791 | 61,134 | 99,863 | |||||||||||||||||||
Brazil, Mexico, Central and South America | 139,433 | 132,496 | 126,179 | |||||||||||||||||||
$ | 1,502,673 | $ | 1,476,335 | $ | 1,584,876 | |||||||||||||||||
Discountinued_Operations_Disco
Discountinued Operations Discontinued Operations | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Discontinued Operations and Disposal Groups [Abstract] | |||||||||
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block] | |||||||||
17 | DISCONTINUED OPERATIONS | ||||||||
On March 16, 2012, SEACOR completed the SES Business Transaction for a net sales price of $99.9 million and recognized a gain of $18.6 million, net of tax, or $0.90 per diluted share. During the year ended December 31, 2013, the final working capital settlements were completed resulting in a $1.0 million reduction of the gain, net of tax. The SES Business included NRC, one of the largest providers of oil spill response services in the United States; NRC Environmental Services Inc., a leading provider of environmental and industrial services on the West Coast of the United States; SEACOR Response Ltd., which provides oil spill response and emergency response services to customers in international markets; and certain other subsidiaries. As a result of the sale, the Company disposed of $8.0 million of goodwill. | |||||||||
On December 31, 2012, SEACOR sold SEI, the Company's energy commodity and logistics business, to Par Petroleum Corporation for a net sales price of $15.1 million and recognized a gain of $7.1 million, net of tax, or $0.34 per diluted share. During the year ended December 31, 2013, the final working capital settlements were completed resulting in a $0.1 million reduction of the gain, net of tax. | |||||||||
On January 31, 2013, the Company completed the Spin-off of Era Group, the company that operated SEACOR's Aviation Services business segment, by means of a dividend to SEACOR's shareholders of all the issued and outstanding common stock of Era Group. Era Group filed a Registration Statement on Form 10 with the SEC, describing the Spin-off, that was declared effective on January 14, 2013. Prior to the Spin-off, SEACOR and Era Group entered into a Distribution Agreement and several other agreements that will govern the post-Spin-off relationship. Era Group is now an independent company whose common stock is listed on the New York Stock Exchange under the symbol "ERA." During the year ended December 31, 2013, the Company provided for income taxes of $10.1 million relating to potential tax exposures surrounding the Spin-off of Era Group. | |||||||||
For all periods presented herein, the Company has reported the historical financial position, results of operations and cash flows of the SES Business, SEI and Era Group as discontinued operations. Summarized selected operating results of the discontinued operations for the years ended December 31 were as follows (in thousands): | |||||||||
2013 | 2012 | ||||||||
SES Business | |||||||||
Operating Revenues | $ | — | $ | 22,387 | |||||
Costs and Expenses: | |||||||||
Operating | — | 18,234 | |||||||
Administrative and general | — | 4,624 | |||||||
Depreciation and amortization | — | 1,428 | |||||||
— | 24,286 | ||||||||
Losses on Asset Dispositions | — | (71 | ) | ||||||
Operating Loss | — | (1,970 | ) | ||||||
Other Income (Expense), Net (including gain on sale of business) | (1,537 | ) | 24,971 | ||||||
Income Tax (Expense), Net | 538 | (6,342 | ) | ||||||
Equity in Earnings of 50% or Less Owned Companies | — | 301 | |||||||
Net Income (Loss) | $ | (999 | ) | $ | 16,960 | ||||
SEI | |||||||||
Operating Revenues | $ | — | $ | 515,468 | |||||
Costs and Expenses: | |||||||||
Operating | — | 503,294 | |||||||
Administrative and general | — | 5,579 | |||||||
Depreciation and amortization | — | (3 | ) | ||||||
— | 508,870 | ||||||||
Operating Income | — | 6,598 | |||||||
Other Income (Expense), Net (including gain on sale of business) | (143 | ) | 8,083 | ||||||
Income Tax (Expense), Net | 50 | (4,856 | ) | ||||||
Net Income (Loss) | $ | (93 | ) | $ | 9,825 | ||||
Era Group | |||||||||
Operating Revenues | $ | 22,892 | $ | 272,921 | |||||
Costs and Expenses: | |||||||||
Operating | 14,076 | 167,195 | |||||||
Administrative and general | 2,653 | 34,785 | |||||||
Depreciation and amortization | 3,875 | 42,502 | |||||||
20,604 | 244,482 | ||||||||
Gains on Asset Dispositions | 548 | 3,612 | |||||||
Operating Income | 2,836 | 32,051 | |||||||
Other Income (Expense), Net | (1,316 | ) | (9,478 | ) | |||||
Income Tax (Expense), Net | (10,818 | ) | (7,998 | ) | |||||
Equity in Earnings (Losses) of 50% or Less Owned Companies | 65 | (5,528 | ) | ||||||
Net Income (Loss) | $ | (9,233 | ) | $ | 9,047 | ||||
Eliminations | |||||||||
Operating Revenues | $ | — | $ | (109,941 | ) | ||||
Costs and Expenses: | |||||||||
Operating | — | (109,938 | ) | ||||||
Administrative and general | — | (3 | ) | ||||||
— | (109,941 | ) | |||||||
Operating Income | $ | — | $ | — | |||||
Supplemental_Information_For_S
Supplemental Information For Statements Of Cash Flows | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Supplemental Cash Flow Information [Abstract] | |||||||||||||
Supplemental Information For Statements Of Cash Flows | |||||||||||||
18 | SUPPLEMENTAL INFORMATION FOR STATEMENTS OF CASH FLOWS | ||||||||||||
Supplemental information for the years ended December 31 was as follows (in thousands): | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Income taxes paid | $ | 52,348 | $ | 4,285 | $ | 24,378 | |||||||
Income taxes refunded | 2,055 | 2,739 | 11,317 | ||||||||||
Interest paid, excluding capitalized interest | 24,719 | 32,388 | 46,457 | ||||||||||
Schedule of Non-Cash Investing and Financing Activities: | |||||||||||||
Distribution of Era Group stock to shareholders | — | 415,209 | — | ||||||||||
Marketable securities reclassified to investment in Trailer Bridge | — | — | 48,064 | ||||||||||
(see Note 3) | |||||||||||||
Company financed sale of equipment and real property | 45,305 | 10,263 | 48,848 | ||||||||||
Contribution of assets to 50% or less owned companies | — | — | 15,123 | ||||||||||
Issuance of Common Stock on Windcat Acquisition (See Note 2) | — | — | 585 | ||||||||||
Quarterly_Financial_Informatio
Quarterly Financial Information | 12 Months Ended | ||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||
Quarterly Financial Data [Abstract] | |||||||||||||||||
Quarterly Financial Information | |||||||||||||||||
19 | QUARTERLY FINANCIAL INFORMATION (UNAUDITED) | ||||||||||||||||
Selected financial information for interim quarterly periods is presented below (in thousands, except share data). Earnings per common share of SEACOR Holdings Inc. are computed independently for each of the quarters presented and the sum of the quarterly earnings per share may not necessarily equal the total for the year. | |||||||||||||||||
Three Months Ended | |||||||||||||||||
Dec. 31, | Sept. 30, | June 30, | March 31, | ||||||||||||||
2014 | |||||||||||||||||
Operating Revenues | $ | 342,217 | $ | 338,936 | $ | 328,224 | $ | 310,017 | |||||||||
Operating Income | 57,416 | 50,870 | 32,707 | 24,250 | |||||||||||||
Income from Continuing Operations | 49,329 | 33,778 | 27,525 | 13,715 | |||||||||||||
Loss from Discontinued Operations, Net of Tax | — | — | — | — | |||||||||||||
Net Income | 49,329 | 33,778 | 27,525 | 13,715 | |||||||||||||
Net Income attributable to SEACOR Holdings Inc.: | |||||||||||||||||
Continuing Operations | $ | 40,093 | $ | 27,463 | $ | 21,067 | $ | 11,509 | |||||||||
Discontinued Operations | — | — | — | — | |||||||||||||
$ | 40,093 | $ | 27,463 | $ | 21,067 | $ | 11,509 | ||||||||||
Basic Earnings Per Common Share of SEACOR Holdings Inc.: | |||||||||||||||||
Continuing Operations | $ | 2.22 | $ | 1.43 | $ | 1.05 | $ | 0.57 | |||||||||
Discontinued Operations | — | — | — | — | |||||||||||||
$ | 2.22 | $ | 1.43 | $ | 1.05 | $ | 0.57 | ||||||||||
Diluted Earnings Per Common Share of SEACOR Holdings Inc.: | |||||||||||||||||
Continuing Operations | $ | 1.85 | $ | 1.28 | $ | 0.98 | $ | 0.56 | |||||||||
Discontinued Operations | — | — | — | — | |||||||||||||
$ | 1.85 | $ | 1.28 | $ | 0.98 | $ | 0.56 | ||||||||||
Three Months Ended | |||||||||||||||||
Dec. 31, | Sept. 30, | June 30, | March 31, | ||||||||||||||
2013 | |||||||||||||||||
Operating Revenues | $ | 327,861 | $ | 336,784 | $ | 315,563 | $ | 267,064 | |||||||||
Operating Income (Loss) | 30,307 | 51,508 | 19,254 | (1,027 | ) | ||||||||||||
Income (Loss) from Continuing Operations | 9,120 | 30,769 | 19,296 | (11,036 | ) | ||||||||||||
Loss from Discontinued Operations, Net of Tax | — | — | — | (10,325 | ) | ||||||||||||
Net Income (Loss) | 9,120 | 30,769 | 19,296 | (21,361 | ) | ||||||||||||
Net Income (Loss) attributable to SEACOR Holdings Inc.: | |||||||||||||||||
Continuing Operations | $ | 8,396 | $ | 30,291 | $ | 19,271 | $ | (10,763 | ) | ||||||||
Discontinued Operations | — | — | — | (10,225 | ) | ||||||||||||
$ | 8,396 | $ | 30,291 | $ | 19,271 | $ | (20,988 | ) | |||||||||
Basic Earnings (Loss) Per Common Share of SEACOR Holdings Inc.: | |||||||||||||||||
Continuing Operations | $ | 0.42 | $ | 1.52 | $ | 0.97 | $ | (0.55 | ) | ||||||||
Discontinued Operations | — | — | — | (0.51 | ) | ||||||||||||
$ | 0.42 | $ | 1.52 | $ | 0.97 | $ | (1.06 | ) | |||||||||
Diluted Earnings (Loss) Per Common Share of SEACOR Holdings Inc.: | |||||||||||||||||
Continuing Operations | $ | 0.41 | $ | 1.36 | $ | 0.91 | $ | (0.55 | ) | ||||||||
Discontinued Operations | — | — | — | (0.51 | ) | ||||||||||||
$ | 0.41 | $ | 1.36 | $ | 0.91 | $ | (1.06 | ) | |||||||||
Valuation_And_Qualifying_Accou
Valuation And Qualifying Accounts | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||
Valuation and Qualifying Accounts [Abstract] | |||||||||||||||||||||
Valuation And Qualifying Accounts | SEACOR HOLDINGS INC. | ||||||||||||||||||||
SCHEDULE II – VALUATION AND QUALIFYING ACCOUNTS | |||||||||||||||||||||
For the Years Ended December 31, 2014, 2013 and 2012 | |||||||||||||||||||||
(in thousands) | |||||||||||||||||||||
Description | Balance | Charges | Deductions(1) | Other(2) | Balance | ||||||||||||||||
Beginning | (Credits) | End | |||||||||||||||||||
of Year | to Cost and | of Year | |||||||||||||||||||
Expenses | |||||||||||||||||||||
Year Ended December 31, 2014 | |||||||||||||||||||||
Allowance for doubtful accounts (deducted from trade and notes receivable) | $ | 1,162 | $ | 2,618 | $ | (1,279 | ) | $ | 661 | $ | 3,162 | ||||||||||
Inventory allowance (deducted from inventory) | $ | 921 | $ | (921 | ) | $ | — | $ | — | $ | — | ||||||||||
Year Ended December 31, 2013 | |||||||||||||||||||||
Allowance for doubtful accounts (deducted from trade and notes receivable) | $ | 1,201 | $ | 170 | $ | (209 | ) | $ | — | $ | 1,162 | ||||||||||
Inventory allowance (deducted from inventory) | $ | 1,327 | $ | (406 | ) | $ | — | $ | — | $ | 921 | ||||||||||
Year Ended December 31, 2012 | |||||||||||||||||||||
Allowance for doubtful accounts (deducted from trade and notes receivable) | $ | 2,355 | $ | 1,311 | $ | (2,736 | ) | $ | 271 | $ | 1,201 | ||||||||||
Inventory allowance (deducted from inventory) | $ | — | $ | 971 | $ | — | $ | 356 | $ | 1,327 | |||||||||||
______________________ | |||||||||||||||||||||
-1 | Trade receivable amounts deemed uncollectible that were removed from accounts receivable and allowance for doubtful accounts. | ||||||||||||||||||||
-2 | For the year ended December 31, 2014, Other consisted of the accounts receivable valuation allowance of Witt O'Brien's at the time of initial consolidation. For the year ended December 31, 2012, Other consisted of the accounts receivable and inventory valuation allowances of ICP at the time of initial consolidation. |
Nature_Of_Operations_And_Accou1
Nature Of Operations And Accounting Policies (Policy) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||
Accounting Policies [Abstract] | |||||||||||||||||||||||||
Nature Of Operations and Segmentation | Nature of Operations and Segmentation. SEACOR Holdings Inc. (“SEACOR”) and its subsidiaries (collectively referred to as the “Company”) are in the business of owning, operating, investing in and marketing equipment, primarily in the offshore oil and gas, shipping and logistics industries. 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 a component 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 has identified the following reporting segments: | ||||||||||||||||||||||||
Offshore Marine Services. Offshore Marine Services operates a diverse fleet of support vessels primarily servicing offshore oil and gas exploration, development and production facilities worldwide. The vessels deliver cargo and personnel to offshore installations; handle anchors and mooring equipment required to tether rigs to the seabed; tow rigs and assist in placing them on location and moving them between regions; and carry and launch equipment such as remote operated vehicles or “ROVs” used underwater in drilling and well installation, maintenance, and repair. In addition, Offshore Marine Services' vessels provide accommodations for technicians and specialists, and provide standby safety support and emergency response services. Offshore Marine Services also operates a fleet of lift boats in the U.S. Gulf of Mexico supporting well intervention, work-over, decommissioning and diving operations. In non-oil and gas industry activity, Offshore Marine Services operates vessels primarily used to move personnel and supplies to offshore wind farms in Europe. Offshore Marine Services contributed 40%, 45% and 40% of consolidated operating revenues in 2014, 2013 and 2012, respectively. | |||||||||||||||||||||||||
Inland River Services. Inland River Services operates river transportation equipment used for moving agricultural and industrial commodities and petroleum and chemical products on the U.S. Inland River Waterways, primarily the Mississippi River, Illinois River, Tennessee River, Ohio River and their tributaries and the Gulf Intracoastal Waterways. Internationally, Inland River Services has barge operations on the Magdalena River in Colombia and on the Parana-Paraguay River Waterways in Brazil, Bolivia, Paraguay, Argentina and Uruguay. In addition to its primary barge and towboat businesses, Inland River Services also operates and invests in high-speed multi-modal terminal facilities for both dry and liquid commodities, barge fleeting locations in various areas of the Inland Waterway System; a broad range of service facilities including machine shop, gear and engine repairs and the repair and drydocking of barges and towboats at strategic locations on the U.S. Inland River Waterways; and a transshipment terminal at the Port of Ibicuy, Argentina. Inland River Services contributed 19%, 17% and 17% of consolidated operating revenues in 2014, 2013 and 2012, respectively. | |||||||||||||||||||||||||
Shipping Services. Shipping Services operates a diversified fleet of U.S.-flag marine transportation related assets, including its 51% controlling interest (see Note 11) in certain of its subsidiaries (collectively “SEA-Vista”), which owns product tankers servicing the U.S. coastwise trade of crude oil, petroleum and chemical products, and including its harbor tugs servicing vessels docking in U.S. Gulf and East Coast ports. Through its 16% non-controlling interest in Dorian LPG Ltd. ("Dorian"), Shipping Services also invests in foreign-flag Very Large Gas Carriers ("VLGC's") servicing the international Liquefied Petroleum Gas (“LPG”) trade. Additional services include liner and short-sea transportation to and from ports in Florida, Puerto Rico, the Bahamas and the Western Caribbean, a terminal support and bunkering operation in St. Eustatius, a U.S.-flag articulated tug and dry-bulk barge operating on the Great Lakes, a U.S.-flag offshore tug and technical ship management services for third party vessel owners. Shipping Services contributed 16%, 16% and 14% of consolidated operating revenues in 2014, 2013 and 2012, respectively. | |||||||||||||||||||||||||
Illinois Corn Processing. Illinois Corn Processing, LLC ("ICP") operates a single-site alcohol manufacturing, storage and distribution facility located in Pekin, Illinois and is a leading producer of alcohol used in the food, beverage, industrial and petrochemical end-markets. As co-products of its manufacturing process, ICP additionally produces Dried Distillers Grains with Solubles ("DDGS") primarily used for animal feed ingredients and produces non-food grade Corn Oil primarily used for feedstock in biodiesel production. The Company owns a 70% interest in ICP(see Note 11). ICP contributed 18%, 16% and 14% of consolidated operating revenues in 2014, 2013 and 2012. | |||||||||||||||||||||||||
Other. The Company also has activities that are referred to and described under Other, which primarily include emergency and crisis services, agricultural commodity trading and logistics, lending and leasing activities and noncontrolling investments in various other businesses, primarily industrial aviation services businesses in Asia. | |||||||||||||||||||||||||
Discontinued Operations | Discontinued Operations (see Note 17). The Company reports the historical financial position, results of operations and cash flows of disposed businesses as discontinued operations when it has no continuing interest in the business. On March 16, 2012, the Company sold National Response Corporation ("NRC"), NRC Environmental Services Inc., SEACOR Response Ltd., and certain other subsidiaries (collectively the “SES Business”) to J.F. Lehman & Company, a leading, middle-market private equity firm (the "SES Business Transaction"). On December 31, 2012, the Company sold SEACOR Energy Inc. ("SEI") to Par Petroleum Corporation. On January 31, 2013, the Company completed the spin-off ("Spin-off") of Era Group Inc. (“Era Group”)by means of a dividend to SEACOR's shareholders of all the issued and outstanding common stock of Era Group. | ||||||||||||||||||||||||
Basis Of Consolidation | Basis of Consolidation. The consolidated financial statements include the accounts of SEACOR and its controlled subsidiaries. Control is generally deemed to exist if the Company has greater than 50% of the voting rights of a subsidiary. All significant intercompany accounts and transactions are eliminated in consolidation. | ||||||||||||||||||||||||
Noncontrolling interests in consolidated subsidiaries are included in the consolidated balance sheets as a separate component of equity. The Company reports consolidated net income inclusive of both the Company’s and the noncontrolling interests’ share, as well as the amounts of consolidated net income attributable to each of the Company and the noncontrolling interests. If a subsidiary is deconsolidated upon a change in control, any retained noncontrolled equity investment in the former controlled subsidiary is measured at fair value and a gain or loss is recognized in net income based on such fair value. If a subsidiary is consolidated upon a change in control, any previous noncontrolled equity investment in the subsidiary is measured at fair value and a gain or loss is recognized based on such fair value. | |||||||||||||||||||||||||
The Company employs the equity method of accounting for investments in 50% or less owned companies that it does not control but has the ability to exercise significant influence over the operating and financial policies of the business venture. Significant influence is generally deemed to exist if the Company has between 20% and 50% of the voting rights of a business venture but may exist when the Company's ownership percentage is less than 20%. In certain circumstances, the Company may have an economic interest in excess of 50% but may not control and consolidate the business venture. Conversely, the Company may have an economic interest less than 50% but may control and consolidate the business venture. The Company reports its investments in and advances to these business ventures in the accompanying consolidated balance sheets as investments, at equity, and advances to 50% or less owned companies. The Company reports its share of earnings or losses from investments in 50% or less owned companies in the accompanying consolidated statements of income as equity in earnings (losses) of 50% or less owned companies, net of tax. | |||||||||||||||||||||||||
The Company employs the cost method of accounting for investments in 50% or less owned companies it does not control or exercise significant influence. These investments in private companies are carried at cost and are adjusted only for capital distributions and other-than-temporary declines in fair value. | |||||||||||||||||||||||||
Use Of Estimates | Use of Estimates. The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Such estimates include those related to deferred revenues, allowance for doubtful accounts, useful lives of property and equipment, impairments, income tax provisions and certain accrued liabilities. Actual results could differ from those estimates and those differences may be material. | ||||||||||||||||||||||||
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 for the years ended December 31 were as follows (in thousands): | ||||||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||||||
Balance at beginning of year | $ | 6,592 | $ | 6,592 | $ | 9,845 | |||||||||||||||||||
Revenues deferred during the year | 202 | — | 3,806 | ||||||||||||||||||||||
Revenues recognized during the year | — | — | (7,059 | ) | |||||||||||||||||||||
Balance at end of year | $ | 6,794 | $ | 6,592 | $ | 6,592 | |||||||||||||||||||
As of December 31, 2014, 2013 and 2012, 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. The Company is vigorously defending its interest in connection with the bankruptcy filing; however, payments received under the Conveyance subsequent to August 17, 2012 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. | |||||||||||||||||||||||||
The Company’s Offshore Marine Services segment earns and recognizes revenues primarily from the time charter and bareboat charter of vessels to customers based upon daily rates of hire. Under a time charter, Offshore Marine Services provides a vessel to a customer and is responsible for all operating expenses, typically excluding fuel. Under a bareboat charter, Offshore Marine Services provides the vessel to the customer and the customer assumes responsibility for all operating expenses and risk of operation. Vessel charters may range from several days to several years. Revenues from time charters and bareboat charters are recognized as services are provided. In the U.S. Gulf of Mexico, time charter durations and rates are typically established in the context of master service agreements that govern the terms and conditions of charter. | |||||||||||||||||||||||||
The Company’s Inland River Services segment earns and recognizes revenues primarily from the time charter and bareboat charter of equipment to customers and from voyage affreightment contracts whereby customers are charged an established rate per ton to transport cargo from point to point. Under a time charter, Inland River Services provides equipment to a customer and is responsible for all operating expenses, typically excluding fuel. Under a bareboat charter, Inland River Services provides the equipment to the customer and the customer assumes responsibility for all operating expenses and risk of operation. These charters typically range from one to six years and revenues from these charters are recognized as services are provided on a per day basis. Revenues from voyage affreightment contracts are generally recognized over the progress of the voyage while the related costs are expensed as incurred. Certain of Inland River Services’ barges are operated in barge pools with other barges owned by third parties from whom Inland River Services earns and recognizes a management fee as the services are rendered. Pursuant to the pooling agreements, operating revenues and expenses of participating barges are combined and the net results are allocated on a pro-rata basis based on the number of barge days contributed by each participant. In addition, revenues are earned from equipment chartered to third parties and from the storage and demurrage of cargoes associated with affreightment activities. In both of these cases, revenues are recognized as services are rendered. Inland River Services’ tank farm and handling facility earns revenues through rental and throughput charges. Rental revenues are recognized ratably over the rental period while throughput charges are recognized as product volume moves through the facility. | |||||||||||||||||||||||||
The Company’s Shipping Services segment earns revenue from the time charter, bareboat charter and voyage charter of vessels, contracts of affreightment, ship assist services, transporting third party freight and ship management agreements with vessel owners. Under a time charter, Shipping Services provides a vessel to a customer and is responsible for all operating expenses, typically excluding fuel. Under a bareboat charter, Shipping Services provides the vessel to a customer and the customer assumes responsibility for all operating expenses and risk of operation. Revenues from time charters and bareboat charters are recognized as services are provided. Voyage contracts are contracts to carry cargoes on a single voyage basis regardless of time to complete. Contracts of affreightment are contracts for cargoes that are committed on a multi-voyage basis for various periods of time with minimum and maximum cargo tonnages specified over the period at a fixed or escalating rate per ton. Revenues for voyage contracts and contracts of affreightment are recognized over the progress of the voyage while the related costs are expensed as incurred. Ship assist services are provided by the Company's harbor towing fleet to docking and undocking cargo vessels in various ports in the U.S. Gulf of Mexico and Atlantic Coast. Revenues from ship assist services are recognized as the services are performed. Revenues from transporting freight are recognized as third party freight is transported to various destinations, typically determined by a tariff based on weight and voyage length, which is usually one to eight days. Ship management agreements typically provide for technical services over a specified period of time, typically a year or more. Revenues from ship management agreements are recognized ratably over the service period. | |||||||||||||||||||||||||
ICP earns revenues from the sale of alcohol and co-products. Revenues and related costs from these sales are recorded when title transfers to the buyer. | |||||||||||||||||||||||||
Cash Equivalents | Cash Equivalents. The Company considers all highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents. Cash equivalents consist of U.S treasury securities, money market instruments, time deposits and overnight investments. | ||||||||||||||||||||||||
Restricted Cash | Restricted Cash. Restricted cash primarily relates to the income generated from the operations of certain of Shipping Services’ U.S.-flag product tankers and consists primarily of U.S. treasury securities (see Note 6). | ||||||||||||||||||||||||
Marketable Securities | Marketable Securities. Marketable equity securities with readily determinable fair values and debt securities are reported in the accompanying consolidated balance sheets as marketable securities. These investments are stated at fair value with both realized and unrealized gains and losses reported in the accompanying consolidated statements of income as marketable security gains, net. Short sales of marketable securities are stated at fair value in the accompanying consolidated balance sheets with both realized and unrealized gains and losses reported in the accompanying consolidated statements of income as marketable security gains, net. | ||||||||||||||||||||||||
Trade Receivables | Trade Receivables. Customers of Offshore Marine Services are primarily major integrated oil companies, large independent oil and gas exploration and production companies and emerging independent companies. Customers of Inland River Services are primarily major agricultural companies, major integrated oil companies, iron ore producers and industrial companies. Customers of Shipping Services are primarily multinational oil and gas companies, refining companies, oil trading companies and large industrial consumers of crude, petroleum and LPG. Customers of ICP are primarily alcohol trading companies, industrial manufacturers, major agricultural companies, major integrated oil companies, and manufacturers in the food, beverage and household products industries. Customers of the Company's other business activities primarily include industrial companies and distributors. All customers are granted credit on a short-term basis and related credit risks are considered minimal. The Company routinely reviews its trade receivables and makes provisions for probable doubtful accounts; however, those provisions are estimates and actual results could differ from those estimates and those differences may be material. Trade receivables are deemed uncollectible and removed from accounts receivable and the allowance for doubtful accounts when collection efforts have been exhausted. | ||||||||||||||||||||||||
Derivative Instruments | Derivative Instruments. The Company accounts for derivatives through the use of a fair value concept whereby all of the Company’s derivative positions are stated at fair value in the accompanying consolidated balance sheets. Realized and unrealized gains and losses on derivatives not designated as hedges are reported in the accompanying consolidated statements of income as derivative losses, net. Realized and unrealized gains and losses on derivatives designated as cash flow hedges are reported as a component of other comprehensive income (loss) in the accompanying consolidated statements of comprehensive income to the extent they are effective and reclassified into earnings on the same line item associated with the hedged transaction and in the same period the hedged transaction affects earnings. Any ineffective portions of cash flow hedges are reported in the accompanying consolidated statements of income as derivative losses, net. Realized and unrealized gains and losses on derivatives designated as cash flow hedges that are entered into by the Company’s 50% or less owned companies are also reported as a component of the Company’s other comprehensive income (loss) in proportion to the Company’s ownership percentage, with reclassifications and ineffective portions being included in equity in earnings (losses) of 50% or less owned companies, net of tax, in the accompanying consolidated statements of income. | ||||||||||||||||||||||||
Concentrations Of Credit Risk | Concentrations of Credit Risk. The Company is exposed to concentrations of credit risk associated with its cash and cash equivalents, restricted cash, construction and Title XI reserve funds and derivative instruments. The Company minimizes its credit risk relating to these positions by monitoring the financial condition of the financial institutions and counterparties involved and by primarily conducting business with large, well-established financial institutions and diversifying its counterparties. The Company does not currently anticipate nonperformance of its significant counterparties. The Company is also exposed to concentrations of credit risk relating to its receivables due from customers in the industries described above. The Company does not generally require collateral or other security to support its outstanding receivables. The Company minimizes its credit risk relating to receivables by performing ongoing credit evaluations and, to date, credit losses have not been material. | ||||||||||||||||||||||||
Inventories | Inventories. Inventories are stated at the lower of cost (using the first-in, first-out and average cost methods) or market. Inventories consist primarily of fuel and fuel oil in the Company’s Offshore Marine Services, Shipping Services and Inland River Services segments. Inventories in ICP consist primarily of corn, high quality alcohol and fuel alcohol. Inventories in the Company's other business activities consist of sugar. The Company records write-downs, as needed, to adjust the carrying amount of inventories to the lower of cost or market. During the years ended December 31, 2014, 2013, and 2012, the Company recorded market write-downs of $0.4 million, $0.2 million and $0.2 million, respectively. | ||||||||||||||||||||||||
Property And Equipment | Property and Equipment. 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 typically 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 December 31, 2014, the estimated useful life (in years) of each of the Company’s major classes 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 | ||||||||||||||||||||||||
Product tankers - U.S.-flag | 25 | ||||||||||||||||||||||||
Short-sea container\RORO(1) vessels | 20 | ||||||||||||||||||||||||
Harbor and offshore tugs | 25 | ||||||||||||||||||||||||
Ocean liquid tank barges | 25 | ||||||||||||||||||||||||
Terminal and manufacturing facilities | 20 | ||||||||||||||||||||||||
______________________ | |||||||||||||||||||||||||
-1 | Roll on/Roll off ("RORO"). | ||||||||||||||||||||||||
The Company’s major classes of property and equipment as of December 31 were as follows (in thousands): | |||||||||||||||||||||||||
Historical | Accumulated | Net Book | |||||||||||||||||||||||
Cost(1) | Depreciation | Value | |||||||||||||||||||||||
2014 | |||||||||||||||||||||||||
Offshore support vessels (excluding wind farm utility) | $ | 968,461 | $ | (459,531 | ) | $ | 508,930 | ||||||||||||||||||
Wind farm utility vessels | 65,634 | (20,658 | ) | 44,976 | |||||||||||||||||||||
Inland river dry-cargo and deck barges | 252,580 | (84,100 | ) | 168,480 | |||||||||||||||||||||
Inland river liquid tank barges | 85,639 | (21,531 | ) | 64,108 | |||||||||||||||||||||
Inland river towboats | 53,750 | (18,671 | ) | 35,079 | |||||||||||||||||||||
Product tankers - U.S.-flag | 271,141 | (153,317 | ) | 117,824 | |||||||||||||||||||||
Short-sea container\RORO vessels | 20,954 | (3,964 | ) | 16,990 | |||||||||||||||||||||
Harbor and offshore tugs | 101,762 | (40,182 | ) | 61,580 | |||||||||||||||||||||
Ocean liquid tank barges | 39,238 | (8,755 | ) | 30,483 | |||||||||||||||||||||
Terminal and manufacturing facilities | 127,977 | (44,812 | ) | 83,165 | |||||||||||||||||||||
Other(2) | 99,821 | (46,763 | ) | 53,058 | |||||||||||||||||||||
$ | 2,086,957 | $ | (902,284 | ) | $ | 1,184,673 | |||||||||||||||||||
2013 | |||||||||||||||||||||||||
Offshore support vessels (excluding wind farm utility) | $ | 1,047,119 | $ | (438,528 | ) | $ | 608,591 | ||||||||||||||||||
Wind farm utility vessels | 65,094 | (14,121 | ) | 50,973 | |||||||||||||||||||||
Inland river dry-cargo and deck barges | 241,210 | (80,772 | ) | 160,438 | |||||||||||||||||||||
Inland river liquid tank barges | 85,639 | (18,138 | ) | 67,501 | |||||||||||||||||||||
Inland river towboats | 61,407 | (22,454 | ) | 38,953 | |||||||||||||||||||||
Product tankers - U.S.-flag | 318,497 | (173,278 | ) | 145,219 | |||||||||||||||||||||
Short-sea container\RORO vessels | 18,328 | (3,995 | ) | 14,333 | |||||||||||||||||||||
Harbor and offshore tugs | 101,762 | (34,017 | ) | 67,745 | |||||||||||||||||||||
Ocean liquid tank barges | 39,238 | (7,335 | ) | 31,903 | |||||||||||||||||||||
Terminal and manufacturing facilities | 120,601 | (33,594 | ) | 87,007 | |||||||||||||||||||||
Other(2) | 100,288 | (40,098 | ) | 60,190 | |||||||||||||||||||||
$ | 2,199,183 | $ | (866,330 | ) | $ | 1,332,853 | |||||||||||||||||||
______________________ | |||||||||||||||||||||||||
-1 | Includes property and equipment acquired in business acquisitions and recorded at fair value as of the date of the acquisition. | ||||||||||||||||||||||||
-2 | Includes land and buildings, leasehold improvements, fixed-wing aircraft, vehicles and other property and equipment. | ||||||||||||||||||||||||
Depreciation expense totaled $127.6 million, $130.2 million and $126.1 million in 2014, 2013 and 2012, respectively. | |||||||||||||||||||||||||
Equipment maintenance and repair costs and the costs of routine overhauls, drydockings and inspections performed on vessels and equipment are charged to operating expense as incurred. Expenditures that extend the useful life or improve the marketing and commercial characteristics of equipment as well as major renewals and improvements to other properties are capitalized. | |||||||||||||||||||||||||
Certain interest costs incurred during the construction of equipment are capitalized as part of the assets’ carrying values and are amortized over such assets’ estimated useful lives. Capitalized interest totaled $17.0 million, $6.4 million and $4.3 million in 2014, 2013 and 2012, respectively. | |||||||||||||||||||||||||
Intangible Assets | Intangible Assets. The Company’s intangible assets primarily arose from business acquisitions (see Note 2) and consist of non-compete agreements, trademarks and tradenames, customer relationships, software and technology, and acquired contractual rights. These intangible assets are amortized over their estimated useful lives ranging from two to ten years. During the years ended December 31, 2014, 2013, and 2012, the Company recognized amortization expense of $4.3 million, $4.3 million and $5.6 million, respectively. | ||||||||||||||||||||||||
The Company’s intangible assets by type were as follows (in thousands): | |||||||||||||||||||||||||
Non-Compete | Trademark/ | Customer | Software/ | Acquired | Total | ||||||||||||||||||||
Agreements | Tradenames | Relationships | Technology | Contractual | |||||||||||||||||||||
Rights | |||||||||||||||||||||||||
Gross Carrying Value | |||||||||||||||||||||||||
Year Ended December 31, 2012 | $ | 40 | $ | 8,424 | $ | 26,587 | $ | — | $ | 8,375 | $ | 43,426 | |||||||||||||
Acquired intangible assets | — | 74 | 1,525 | — | — | 1,599 | |||||||||||||||||||
Foreign currency translation | — | — | — | — | (132 | ) | (132 | ) | |||||||||||||||||
Fully amortized intangible assets | — | (437 | ) | — | — | (4,772 | ) | (5,209 | ) | ||||||||||||||||
Year Ended December 31, 2013 | 40 | 8,061 | 28,112 | — | 3,471 | 39,684 | |||||||||||||||||||
Acquired intangible assets | — | 2,620 | 20,629 | 1,652 | — | 24,901 | |||||||||||||||||||
Foreign currency translation | — | — | — | — | (119 | ) | (119 | ) | |||||||||||||||||
Impairment of intangible assets | — | — | — | — | (367 | ) | (367 | ) | |||||||||||||||||
Fully amortized intangible assets | (40 | ) | — | (171 | ) | — | — | (211 | ) | ||||||||||||||||
Year Ended December 31, 2014 | $ | — | $ | 10,681 | $ | 48,570 | $ | 1,652 | $ | 2,985 | $ | 63,888 | |||||||||||||
Accumulated Amortization | |||||||||||||||||||||||||
Year Ended December 31, 2012 | $ | (25 | ) | $ | (3,983 | ) | $ | (19,014 | ) | $ | — | $ | (5,099 | ) | $ | (28,121 | ) | ||||||||
Amortization expense | (8 | ) | (984 | ) | (2,454 | ) | — | (903 | ) | (4,349 | ) | ||||||||||||||
Fully amortized intangible assets | — | 437 | — | — | 4,772 | 5,209 | |||||||||||||||||||
Year Ended December 31, 2013 | (33 | ) | (4,530 | ) | (21,468 | ) | — | (1,230 | ) | (27,261 | ) | ||||||||||||||
Amortization expense | (7 | ) | (899 | ) | (2,882 | ) | (96 | ) | (378 | ) | (4,262 | ) | |||||||||||||
Impairment of intangible assets | — | — | — | — | 151 | 151 | |||||||||||||||||||
Fully amortized intangible assets | 40 | — | 171 | — | — | 211 | |||||||||||||||||||
Year Ended December 31, 2014 | $ | — | $ | (5,429 | ) | $ | (24,179 | ) | $ | (96 | ) | $ | (1,457 | ) | $ | (31,161 | ) | ||||||||
Weighted average remaining contractual life, in years | 0 | 7.85 | 11.44 | 9.4 | 3.31 | 10.38 | |||||||||||||||||||
Future amortization expense of intangible assets for each of the years ended December 31 is as follows (in thousands): | |||||||||||||||||||||||||
2015 | $ | 4,138 | |||||||||||||||||||||||
2016 | 3,106 | ||||||||||||||||||||||||
2017 | 2,945 | ||||||||||||||||||||||||
2018 | 2,924 | ||||||||||||||||||||||||
2019 | 2,924 | ||||||||||||||||||||||||
Years subsequent to 2019 | 16,690 | ||||||||||||||||||||||||
$ | 32,727 | ||||||||||||||||||||||||
Impairment Of Long-Lived Assets | Impairment of Long-Lived Assets. 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 values of the assets are not recoverable, as determined by the estimated undiscounted cash flows, the carrying values of the assets are reduced to fair value. Generally, fair value is determined using valuation techniques, such as expected discounted cash flows or appraisals, as appropriate. During the years ended 2014, 2013 and 2012, the Company recognized impairment charges of $4.4 million, $3.0 million and $1.2 million, respectively, related to long-lived assets held for use. | ||||||||||||||||||||||||
Impairment of 50% or Less Owned Companies. The Company performs regular reviews of each 50% or less owned company's financial condition, the business outlook for its products and services, and its present and projected results and cash flows. When a 50% or less owned company has experienced consistent declines in financial performance or difficulties in raising capital to continue operations, and when the Company expects the decline to be other-than-temporary, the investment is written down to fair value. Actual results may vary from estimates due to the uncertainty regarding the projected financial performance of 50% or less owned companies, the severity and expected duration of declines in value, and the available liquidity in the capital markets to support the continuing operations of the 50% or less owned company. During the year ended December 31, 2014, the Company recognized an impairment charge of $3.3 million related to one of its 50% or less owned companies. The Company did not recognize any impairment charges during the years ended December 31, 2013 and 2012 | |||||||||||||||||||||||||
Goodwill | Goodwill. Goodwill is recorded when the purchase price paid for an acquisition exceeds the fair value of net identified tangible and intangible assets acquired. The Company performs an annual impairment test of goodwill and further periodic tests to the extent indicators of impairment develop between annual impairment tests. The Company’s impairment review process compares the fair value of the reporting unit to its carrying value, including the goodwill related to the reporting unit. To determine the fair value of the reporting unit, the Company uses a discounted future cash flow approach that uses estimates for revenues, costs and appropriate discount rates, among other things. These estimates are reviewed each time the Company tests goodwill for impairment and are typically developed as part of the Company’s routine business planning and forecasting process. While the Company believes its estimates and assumptions are reasonable, variations from those estimates could produce materially different results. The Company did not recognize any goodwill impairments in the years ended December 31, 2014, 2013 and 2012. | ||||||||||||||||||||||||
Business Combinations | Business Combinations. The Company recognizes, with certain exceptions, 100% of the fair value of assets acquired, liabilities assumed, and noncontrolling interests when the acquisition constitutes a change in control of the acquired entity. Shares issued in consideration for a business combination, contingent consideration arrangements and pre-acquisition loss and gain contingencies are all measured and recorded at their acquisition-date fair value. Subsequent changes to fair value of contingent consideration arrangements are generally reflected in earnings. Any in-process research and development assets acquired are capitalized as are certain acquisition-related restructuring costs if the criteria related to exit or disposal cost obligations are met as of the acquisition date. Acquisition-related transaction costs are expensed as incurred and any changes in an acquirer’s existing income tax valuation allowances and tax uncertainty accruals are recorded as an adjustment to income tax expense. The operating results of entities acquired are included in the accompanying consolidated statements of income from the date of acquisition (see Note 2). | ||||||||||||||||||||||||
Deferred Financing Costs | Deferred Financing Costs. Deferred financing costs incurred in connection with the issuance of debt are amortized over the life of the related debt using the effective interest rate method for term loans and straight line method for revolving credit facilities. Amortization of deferred financing costs totaled $2.3 million, $1.9 million and $0.5 million for the years ended December 31, 2014, 2013 and 2012, respectively, and is included in interest expense in the accompanying consolidated statements of income. | ||||||||||||||||||||||||
Self-Insurance Liabilities | Self-insurance Liabilities. The Company maintains hull, liability and war risk, general liability, workers compensation and other insurance customary in the industries in which it operates. Most of the insurance is obtained through SEACOR sponsored programs, with premiums charged to participating businesses based on insured asset values. Both the marine hull and liability policies have significant annual aggregate deductibles. Marine hull annual aggregate deductibles are accrued as claims are incurred by participating businesses and proportionately shared among the participating businesses. Marine liability annual aggregate deductibles are accrued based on historical loss experience and actual claims incurred. The Company also maintains self-insured health benefit plans for its participating employees. Exposure to the health benefit plans are limited by maintaining stop-loss and aggregate liability coverage. To the extent that estimated self-insurance losses, including the accrual of annual aggregate deductibles, differ from actual losses realized, the Company’s insurance reserves could differ significantly and may result in either higher or lower insurance expense in future periods. | ||||||||||||||||||||||||
Income Taxes | Income Taxes. Deferred income tax assets and liabilities have been provided in recognition of the income tax effect attributable to the book and tax basis differences of assets and liabilities reported in the accompanying consolidated financial statements. Deferred tax assets or liabilities are provided using the enacted tax rates expected to apply to taxable income in the periods in which they are expected to be settled or realized. Interest and penalties relating to uncertain tax positions are recognized in interest expense and administrative and general, respectively, in the accompanying consolidated statements of income. The Company records a valuation allowance to reduce its deferred tax assets if it is more likely than not that some portion or all of the deferred tax assets will not be realized. | ||||||||||||||||||||||||
In the normal course of business, the Company may be subject to challenges from tax authorities regarding the amount of taxes due. These challenges may alter the timing or amount of taxable income or deductions. As part of the calculation of income tax expense, the Company determines whether the benefits of its tax positions are at least more likely than not of being sustained based on the technical merits of the tax position. For tax positions that are more likely than not of being sustained, the Company accrues the largest amount of the tax benefit that is more likely than not of being sustained. Such accruals require management to make estimates and judgments with respect to the ultimate outcome of its tax benefits and actual results could vary materially from these estimates. | |||||||||||||||||||||||||
Deferred Gains | Deferred Gains – Equipment Sale-Leaseback Transactions and Financed Equipment Sales. From time to time, the Company enters into equipment sale-leaseback transactions with finance companies or provides seller financing on sales of its equipment to third parties or 50% or less owned companies. A portion of the gains realized from these transactions is not immediately recognized in income and has been recorded in the accompanying consolidated balance sheets in deferred gains and other liabilities. In sale-leaseback transactions (see Note 2), gains are deferred to the extent of the present value of future minimum lease payments and are amortized as reductions to rental expense over the applicable lease terms. In financed equipment sales (see Note 2), gains are deferred to the extent that the repayment of purchase notes is dependent on the future operations of the sold equipment and are amortized based on cash received from the buyers. Deferred gain activity related to these transactions for the years ended December 31 was as follows (in thousands): | ||||||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||||||
Balance at beginning of year | $ | 110,542 | $ | 96,447 | $ | 101,155 | |||||||||||||||||||
Deferred gains arising from equipment sales | 71,367 | 26,881 | 23,183 | ||||||||||||||||||||||
Amortization of deferred gains included in operating expenses as reduction to rental expense | (18,847 | ) | (10,687 | ) | (16,652 | ) | |||||||||||||||||||
Amortization of deferred gains included in gains on asset dispositions and impairments, net | (15,686 | ) | (2,099 | ) | (11,239 | ) | |||||||||||||||||||
Reductions of deferred gains on repurchased equipment and other | (842 | ) | — | — | |||||||||||||||||||||
Balance at end of year | $ | 146,534 | $ | 110,542 | $ | 96,447 | |||||||||||||||||||
Deferred Gains – Equipment Sales to the Company’s 50% or Less Owned Companies. A portion of the gains realized from non-financed sales of the Company’s vessels and barges to its 50% or less owned companies is not immediately recognized in income and has been recorded in the accompanying consolidated balance sheets in deferred gains and other liabilities. Effective January 1, 2009, the Company adopted new accounting rules related to the sale of its vessels and barges to its 50% or less owned companies. In most instances, these sale transactions are now considered a sale of a business in which the Company relinquishes control to its 50% or less owned companies. Subsequent to the adoption of the new accounting rules, gains are deferred only to the extent of the Company's uncalled capital commitments and are amortized as those commitments lapse or funded amounts are returned. For transactions occurring prior to the adoption of the new accounting rules, gains were deferred and are being amortized based on the Company's ownership interest, the Company's uncalled capital commitments, cash received and the applicable equipment's useful lives. Deferred gain activity related to these transactions for the years ended December 31 was as follows (in thousands): | |||||||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||||||
Balance at beginning of year | $ | 14,221 | $ | 15,066 | $ | 16,036 | |||||||||||||||||||
Amortization of deferred gains included in gains on asset dispositions and impairments, net | (844 | ) | (845 | ) | (970 | ) | |||||||||||||||||||
Balance at end of year | $ | 13,377 | $ | 14,221 | $ | 15,066 | |||||||||||||||||||
Stock Based Compensation | Stock Based Compensation. Stock based compensation is amortized to compensation expense on a straight line basis over the requisite service period of the grants using the Black-Scholes valuation model. The Company will reconsider its use of this model if additional information becomes available in the future that indicates another model would be more appropriate or if grants issued in future periods have characteristics that cannot be reasonably estimated using this model. The Company does not estimate forfeitures in its expense calculations as forfeiture history has been minor. The Company presents the excess tax benefits from the exercise of stock options as a financing cash flow in the accompanying consolidated statements of cash flows. | ||||||||||||||||||||||||
Foreign Currency Translation And Transactions | Foreign Currency Translation. The assets, liabilities and results of operations of certain SEACOR subsidiaries are measured using their functional currency which is the currency of the primary foreign economic environment in which they operate. Upon consolidating these subsidiaries with SEACOR, their assets and liabilities are translated to U.S. dollars at currency exchange rates as of the balance sheet dates and their revenues and expenses are translated at the weighted average currency exchange rates during the applicable reporting periods. Translation adjustments resulting from the process of translating these subsidiaries’ financial statements are reported in other comprehensive income (loss) in the accompanying consolidated statements of comprehensive income. | ||||||||||||||||||||||||
Foreign Currency Transactions. Certain SEACOR subsidiaries enter into transactions denominated in currencies other than their functional currency. Gains and losses resulting from changes in currency exchange rates between the functional currency and the currency in which a transaction is denominated are included in foreign currency gains (losses), net in the accompanying consolidated statements of income in the period in which the currency exchange rates change. | |||||||||||||||||||||||||
Earnings Per Share | Earnings Per Share. 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 for the years ended December 31 were as follows (in thousands, except share data): | |||||||||||||||||||||||||
Net Income | Average o/s Shares | Per Share | |||||||||||||||||||||||
2014 | |||||||||||||||||||||||||
Basic Weighted Average Common Shares Outstanding | $ | 100,132 | 19,336,280 | $ | 5.18 | ||||||||||||||||||||
Effect of Dilutive Securities: | |||||||||||||||||||||||||
Options and Restricted Stock(1) | — | 403,194 | |||||||||||||||||||||||
Convertible Securities | 21,156 | 6,025,851 | |||||||||||||||||||||||
Diluted Weighted Average Common Shares Outstanding | $ | 121,288 | 25,765,325 | $ | 4.71 | ||||||||||||||||||||
2013 | |||||||||||||||||||||||||
Basic Weighted Average Common Shares Outstanding | $ | 36,970 | 19,893,954 | $ | 1.86 | ||||||||||||||||||||
Effect of Dilutive Securities: | |||||||||||||||||||||||||
Options and Restricted Stock(1) | — | 399,333 | |||||||||||||||||||||||
Convertible Securities(2)(3) | — | — | |||||||||||||||||||||||
Diluted Weighted Average Common Shares Outstanding | $ | 36,970 | 20,293,287 | $ | 1.82 | ||||||||||||||||||||
2012 | |||||||||||||||||||||||||
Basic Weighted Average Common Shares Outstanding | $ | 61,215 | 20,426,770 | $ | 3 | ||||||||||||||||||||
Effect of Dilutive Securities: | |||||||||||||||||||||||||
Options and Restricted Stock(1) | — | 349,126 | |||||||||||||||||||||||
Convertible Securities(2) | — | — | |||||||||||||||||||||||
Diluted Weighted Average Common Shares Outstanding | $ | 61,215 | 20,775,896 | $ | 2.95 | ||||||||||||||||||||
______________________ | |||||||||||||||||||||||||
-1 | For the years ended December 31, 2014, 2013 and 2012, diluted earnings per common share of SEACOR excluded 407,698, 133,315 and 549,223, respectively, of certain share awards as the effect of their inclusion in the computation would be anti-dilutive. | ||||||||||||||||||||||||
-2 | For the years ended December 31, 2013 and 2012, diluted earnings per common share of SEACOR excluded 4,200,525 and 176,609 shares, respectively, issuable pursuant to the Company's 2.5% Convertible Senior Notes (see Note 6) as the effect of their inclusion in the computation would be anti-dilutive. | ||||||||||||||||||||||||
-3 | For the year ended December 31, 2013, diluted earnings per common share of SEACOR excluded 240,043 shares issuable pursuant to the Company's 3.0% Convertible Senior Notes (see Note 6) as the effect of their inclusion in the computation would be anti-dilutive. | ||||||||||||||||||||||||
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 selected the method of adoption and 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 or cash flows as previously reported. |
Nature_Of_Operations_And_Accou2
Nature Of Operations And Accounting Policies (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||||||
Accounting Policies [Abstract] | |||||||||||||||||||||||||||||
Deferred Revenues Included In Other Current Liabilities | Deferred revenues for the years ended December 31 were as follows (in thousands): | ||||||||||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||||||||||
Balance at beginning of year | $ | 6,592 | $ | 6,592 | $ | 9,845 | |||||||||||||||||||||||
Revenues deferred during the year | 202 | — | 3,806 | ||||||||||||||||||||||||||
Revenues recognized during the year | — | — | (7,059 | ) | |||||||||||||||||||||||||
Balance at end of year | $ | 6,794 | $ | 6,592 | $ | 6,592 | |||||||||||||||||||||||
Schedule Of Estimated Useful Life Of Equipment | As of December 31, 2014, the estimated useful life (in years) of each of the Company’s major classes 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 | ||||||||||||||||||||||||||||
Product tankers - U.S.-flag | 25 | ||||||||||||||||||||||||||||
Short-sea container\RORO(1) vessels | 20 | ||||||||||||||||||||||||||||
Harbor and offshore tugs | 25 | ||||||||||||||||||||||||||||
Ocean liquid tank barges | 25 | ||||||||||||||||||||||||||||
Terminal and manufacturing facilities | 20 | ||||||||||||||||||||||||||||
______________________ | |||||||||||||||||||||||||||||
-1 | Roll on/Roll off ("RORO"). | ||||||||||||||||||||||||||||
Property Plant And Equipment By Major Class [Text Block] | Property and Equipment. 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 typically 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 December 31, 2014, the estimated useful life (in years) of each of the Company’s major classes 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 | ||||||||||||||||||||||||||||
Product tankers - U.S.-flag | 25 | ||||||||||||||||||||||||||||
Short-sea container\RORO(1) vessels | 20 | ||||||||||||||||||||||||||||
Harbor and offshore tugs | 25 | ||||||||||||||||||||||||||||
Ocean liquid tank barges | 25 | ||||||||||||||||||||||||||||
Terminal and manufacturing facilities | 20 | ||||||||||||||||||||||||||||
______________________ | |||||||||||||||||||||||||||||
-1 | Roll on/Roll off ("RORO"). | ||||||||||||||||||||||||||||
The Company’s major classes of property and equipment as of December 31 were as follows (in thousands): | |||||||||||||||||||||||||||||
Historical | Accumulated | Net Book | |||||||||||||||||||||||||||
Cost(1) | Depreciation | Value | |||||||||||||||||||||||||||
2014 | |||||||||||||||||||||||||||||
Offshore support vessels (excluding wind farm utility) | $ | 968,461 | $ | (459,531 | ) | $ | 508,930 | ||||||||||||||||||||||
Wind farm utility vessels | 65,634 | (20,658 | ) | 44,976 | |||||||||||||||||||||||||
Inland river dry-cargo and deck barges | 252,580 | (84,100 | ) | 168,480 | |||||||||||||||||||||||||
Inland river liquid tank barges | 85,639 | (21,531 | ) | 64,108 | |||||||||||||||||||||||||
Inland river towboats | 53,750 | (18,671 | ) | 35,079 | |||||||||||||||||||||||||
Product tankers - U.S.-flag | 271,141 | (153,317 | ) | 117,824 | |||||||||||||||||||||||||
Short-sea container\RORO vessels | 20,954 | (3,964 | ) | 16,990 | |||||||||||||||||||||||||
Harbor and offshore tugs | 101,762 | (40,182 | ) | 61,580 | |||||||||||||||||||||||||
Ocean liquid tank barges | 39,238 | (8,755 | ) | 30,483 | |||||||||||||||||||||||||
Terminal and manufacturing facilities | 127,977 | (44,812 | ) | 83,165 | |||||||||||||||||||||||||
Other(2) | 99,821 | (46,763 | ) | 53,058 | |||||||||||||||||||||||||
$ | 2,086,957 | $ | (902,284 | ) | $ | 1,184,673 | |||||||||||||||||||||||
2013 | |||||||||||||||||||||||||||||
Offshore support vessels (excluding wind farm utility) | $ | 1,047,119 | $ | (438,528 | ) | $ | 608,591 | ||||||||||||||||||||||
Wind farm utility vessels | 65,094 | (14,121 | ) | 50,973 | |||||||||||||||||||||||||
Inland river dry-cargo and deck barges | 241,210 | (80,772 | ) | 160,438 | |||||||||||||||||||||||||
Inland river liquid tank barges | 85,639 | (18,138 | ) | 67,501 | |||||||||||||||||||||||||
Inland river towboats | 61,407 | (22,454 | ) | 38,953 | |||||||||||||||||||||||||
Product tankers - U.S.-flag | 318,497 | (173,278 | ) | 145,219 | |||||||||||||||||||||||||
Short-sea container\RORO vessels | 18,328 | (3,995 | ) | 14,333 | |||||||||||||||||||||||||
Harbor and offshore tugs | 101,762 | (34,017 | ) | 67,745 | |||||||||||||||||||||||||
Ocean liquid tank barges | 39,238 | (7,335 | ) | 31,903 | |||||||||||||||||||||||||
Terminal and manufacturing facilities | 120,601 | (33,594 | ) | 87,007 | |||||||||||||||||||||||||
Other(2) | 100,288 | (40,098 | ) | 60,190 | |||||||||||||||||||||||||
$ | 2,199,183 | $ | (866,330 | ) | $ | 1,332,853 | |||||||||||||||||||||||
______________________ | |||||||||||||||||||||||||||||
-1 | Includes property and equipment acquired in business acquisitions and recorded at fair value as of the date of the acquisition. | ||||||||||||||||||||||||||||
-2 | Includes land and buildings, leasehold improvements, fixed-wing aircraft, vehicles and other property and equipment. | ||||||||||||||||||||||||||||
Schedule Of Intangible Assets | The Company’s intangible assets by type were as follows (in thousands): | ||||||||||||||||||||||||||||
Non-Compete | Trademark/ | Customer | Software/ | Acquired | Total | ||||||||||||||||||||||||
Agreements | Tradenames | Relationships | Technology | Contractual | |||||||||||||||||||||||||
Rights | |||||||||||||||||||||||||||||
Gross Carrying Value | |||||||||||||||||||||||||||||
Year Ended December 31, 2012 | $ | 40 | $ | 8,424 | $ | 26,587 | $ | — | $ | 8,375 | $ | 43,426 | |||||||||||||||||
Acquired intangible assets | — | 74 | 1,525 | — | — | 1,599 | |||||||||||||||||||||||
Foreign currency translation | — | — | — | — | (132 | ) | (132 | ) | |||||||||||||||||||||
Fully amortized intangible assets | — | (437 | ) | — | — | (4,772 | ) | (5,209 | ) | ||||||||||||||||||||
Year Ended December 31, 2013 | 40 | 8,061 | 28,112 | — | 3,471 | 39,684 | |||||||||||||||||||||||
Acquired intangible assets | — | 2,620 | 20,629 | 1,652 | — | 24,901 | |||||||||||||||||||||||
Foreign currency translation | — | — | — | — | (119 | ) | (119 | ) | |||||||||||||||||||||
Impairment of intangible assets | — | — | — | — | (367 | ) | (367 | ) | |||||||||||||||||||||
Fully amortized intangible assets | (40 | ) | — | (171 | ) | — | — | (211 | ) | ||||||||||||||||||||
Year Ended December 31, 2014 | $ | — | $ | 10,681 | $ | 48,570 | $ | 1,652 | $ | 2,985 | $ | 63,888 | |||||||||||||||||
Accumulated Amortization | |||||||||||||||||||||||||||||
Year Ended December 31, 2012 | $ | (25 | ) | $ | (3,983 | ) | $ | (19,014 | ) | $ | — | $ | (5,099 | ) | $ | (28,121 | ) | ||||||||||||
Amortization expense | (8 | ) | (984 | ) | (2,454 | ) | — | (903 | ) | (4,349 | ) | ||||||||||||||||||
Fully amortized intangible assets | — | 437 | — | — | 4,772 | 5,209 | |||||||||||||||||||||||
Year Ended December 31, 2013 | (33 | ) | (4,530 | ) | (21,468 | ) | — | (1,230 | ) | (27,261 | ) | ||||||||||||||||||
Amortization expense | (7 | ) | (899 | ) | (2,882 | ) | (96 | ) | (378 | ) | (4,262 | ) | |||||||||||||||||
Impairment of intangible assets | — | — | — | — | 151 | 151 | |||||||||||||||||||||||
Fully amortized intangible assets | 40 | — | 171 | — | — | 211 | |||||||||||||||||||||||
Year Ended December 31, 2014 | $ | — | $ | (5,429 | ) | $ | (24,179 | ) | $ | (96 | ) | $ | (1,457 | ) | $ | (31,161 | ) | ||||||||||||
Weighted average remaining contractual life, in years | 0 | 7.85 | 11.44 | 9.4 | 3.31 | 10.38 | |||||||||||||||||||||||
Schedule Of Future Amortization Expense Of Intangible Assets | Future amortization expense of intangible assets for each of the years ended December 31 is as follows (in thousands): | ||||||||||||||||||||||||||||
2015 | $ | 4,138 | |||||||||||||||||||||||||||
2016 | 3,106 | ||||||||||||||||||||||||||||
2017 | 2,945 | ||||||||||||||||||||||||||||
2018 | 2,924 | ||||||||||||||||||||||||||||
2019 | 2,924 | ||||||||||||||||||||||||||||
Years subsequent to 2019 | 16,690 | ||||||||||||||||||||||||||||
$ | 32,727 | ||||||||||||||||||||||||||||
Schedule of Deferred Gains | Deferred gain activity related to these transactions for the years ended December 31 was as follows (in thousands): | ||||||||||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||||||||||
Balance at beginning of year | $ | 14,221 | $ | 15,066 | $ | 16,036 | |||||||||||||||||||||||
Amortization of deferred gains included in gains on asset dispositions and impairments, net | (844 | ) | (845 | ) | (970 | ) | |||||||||||||||||||||||
Balance at end of year | $ | 13,377 | $ | 14,221 | $ | 15,066 | |||||||||||||||||||||||
Deferred gain activity related to these transactions for the years ended December 31 was as follows (in thousands): | |||||||||||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||||||||||
Balance at beginning of year | $ | 110,542 | $ | 96,447 | $ | 101,155 | |||||||||||||||||||||||
Deferred gains arising from equipment sales | 71,367 | 26,881 | 23,183 | ||||||||||||||||||||||||||
Amortization of deferred gains included in operating expenses as reduction to rental expense | (18,847 | ) | (10,687 | ) | (16,652 | ) | |||||||||||||||||||||||
Amortization of deferred gains included in gains on asset dispositions and impairments, net | (15,686 | ) | (2,099 | ) | (11,239 | ) | |||||||||||||||||||||||
Reductions of deferred gains on repurchased equipment and other | (842 | ) | — | — | |||||||||||||||||||||||||
Balance at end of year | $ | 146,534 | $ | 110,542 | $ | 96,447 | |||||||||||||||||||||||
Schedule of Accumulated Other Comprehensive Income (Loss) | 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 (Loss) | ||||||||||||||||||||||||||
Adjustments | Hedges, net | Adjustments | |||||||||||||||||||||||||||
Year ended December 31, 2011 | $ | (4,404 | ) | $ | (3,518 | ) | $ | (36 | ) | $ | (7,958 | ) | $ | (118 | ) | $ | — | ||||||||||||
Other comprehensive income (loss) | 4,871 | 4,286 | 31 | 9,188 | 439 | (10 | ) | $ | 9,617 | ||||||||||||||||||||
Income tax expense | (1,705 | ) | (1,500 | ) | (11 | ) | (3,216 | ) | — | — | (3,216 | ) | |||||||||||||||||
Year ended December 31, 2012 | (1,238 | ) | (732 | ) | (16 | ) | (1,986 | ) | 321 | (10 | ) | $ | 6,401 | ||||||||||||||||
Distribution of Era Group stock to shareholders | (55 | ) | — | — | (55 | ) | — | — | |||||||||||||||||||||
Other comprehensive income (loss) | 563 | 731 | 12 | 1,306 | 74 | 5 | $ | 1,385 | |||||||||||||||||||||
Income tax expense | (197 | ) | (256 | ) | (4 | ) | (457 | ) | — | — | (457 | ) | |||||||||||||||||
Year ended December 31, 2013 | (927 | ) | (257 | ) | (8 | ) | (1,192 | ) | 395 | (5 | ) | $ | 928 | ||||||||||||||||
Other comprehensive income (loss) | (3,949 | ) | 371 | 20 | (3,558 | ) | (481 | ) | 8 | $ | (4,031 | ) | |||||||||||||||||
Income tax (expense) benefit | 1,382 | (130 | ) | (7 | ) | 1,245 | — | — | 1,245 | ||||||||||||||||||||
Year ended December 31, 2014 | $ | (3,494 | ) | $ | (16 | ) | $ | 5 | $ | (3,505 | ) | $ | (86 | ) | $ | 3 | $ | (2,786 | ) | ||||||||||
Schedule Of Earnings Per Share | Computations of basic and diluted earnings per common share of SEACOR for the years ended December 31 were as follows (in thousands, except share data): | ||||||||||||||||||||||||||||
Net Income | Average o/s Shares | Per Share | |||||||||||||||||||||||||||
2014 | |||||||||||||||||||||||||||||
Basic Weighted Average Common Shares Outstanding | $ | 100,132 | 19,336,280 | $ | 5.18 | ||||||||||||||||||||||||
Effect of Dilutive Securities: | |||||||||||||||||||||||||||||
Options and Restricted Stock(1) | — | 403,194 | |||||||||||||||||||||||||||
Convertible Securities | 21,156 | 6,025,851 | |||||||||||||||||||||||||||
Diluted Weighted Average Common Shares Outstanding | $ | 121,288 | 25,765,325 | $ | 4.71 | ||||||||||||||||||||||||
2013 | |||||||||||||||||||||||||||||
Basic Weighted Average Common Shares Outstanding | $ | 36,970 | 19,893,954 | $ | 1.86 | ||||||||||||||||||||||||
Effect of Dilutive Securities: | |||||||||||||||||||||||||||||
Options and Restricted Stock(1) | — | 399,333 | |||||||||||||||||||||||||||
Convertible Securities(2)(3) | — | — | |||||||||||||||||||||||||||
Diluted Weighted Average Common Shares Outstanding | $ | 36,970 | 20,293,287 | $ | 1.82 | ||||||||||||||||||||||||
2012 | |||||||||||||||||||||||||||||
Basic Weighted Average Common Shares Outstanding | $ | 61,215 | 20,426,770 | $ | 3 | ||||||||||||||||||||||||
Effect of Dilutive Securities: | |||||||||||||||||||||||||||||
Options and Restricted Stock(1) | — | 349,126 | |||||||||||||||||||||||||||
Convertible Securities(2) | — | — | |||||||||||||||||||||||||||
Diluted Weighted Average Common Shares Outstanding | $ | 61,215 | 20,775,896 | $ | 2.95 | ||||||||||||||||||||||||
______________________ | |||||||||||||||||||||||||||||
-1 | For the years ended December 31, 2014, 2013 and 2012, diluted earnings per common share of SEACOR excluded 407,698, 133,315 and 549,223, respectively, of certain share awards as the effect of their inclusion in the computation would be anti-dilutive. | ||||||||||||||||||||||||||||
-2 | For the years ended December 31, 2013 and 2012, diluted earnings per common share of SEACOR excluded 4,200,525 and 176,609 shares, respectively, issuable pursuant to the Company's 2.5% Convertible Senior Notes (see Note 6) as the effect of their inclusion in the computation would be anti-dilutive. | ||||||||||||||||||||||||||||
-3 | For the year ended December 31, 2013, diluted earnings per common share of SEACOR excluded 240,043 shares issuable pursuant to the Company's 3.0% Convertible Senior Notes (see Note 6) as the effect of their inclusion in the computation would be anti-dilutive. |
Acquisitions_And_Dispositions_
Acquisitions And Dispositions (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Business Combinations [Abstract] | |||||||||||||
Allocation Of Purchase Price For Business Acquisitions | Purchase Price Allocation. The allocation of the purchase price for the Company’s acquisitions for the years ended December 31 was as follows (in thousands): | ||||||||||||
2014 | 2013 | 2012 | |||||||||||
Trade and other receivables | $ | 31,079 | $ | 3,250 | $ | 17,356 | |||||||
Other current assets | 1,925 | 32 | 16,282 | ||||||||||
Investments, at Equity, and Advances to 50% or Less Owned Companies | 519 | (13,290 | ) | (42,358 | ) | ||||||||
Property and Equipment | (49,968 | ) | 43,521 | 178,025 | |||||||||
Goodwill | 44,967 | — | (1,586 | ) | |||||||||
Intangible Assets | 24,901 | 1,599 | 4,057 | ||||||||||
Other Assets | 111 | — | (332 | ) | |||||||||
Accounts payable | (1,709 | ) | (264 | ) | (4,701 | ) | |||||||
Other current liabilities | (12,274 | ) | (1,053 | ) | (4,093 | ) | |||||||
Long-Term Debt | (3,266 | ) | (22,668 | ) | (946 | ) | |||||||
Deferred Income Taxes | 91 | — | — | ||||||||||
Other Liabilities | (1,376 | ) | — | (166 | ) | ||||||||
Accumulated other comprehensive loss, net of tax | — | — | 9 | ||||||||||
Noncontrolling interests in subsidiaries | — | — | (13,459 | ) | |||||||||
Purchase price(1) | $ | 35,000 | $ | 11,127 | $ | 148,088 | |||||||
______________________ | |||||||||||||
-1 | Purchase price is net of cash acquired (totaling $0.4 million, $2.2 million and $3.7 million in 2014, 2013 and 2012, respectively) and excludes issued Common Stock valued at $0.6 million in 2012. | ||||||||||||
Property, Plant and Equipment, Schedule of Significant Acquisitions and Disposals [Table Text Block] | Major owned equipment placed in service for the years ended December 31 were as follows: | ||||||||||||
2014 | 2013(1) | 2012(2) | |||||||||||
Offshore Support Vessels: | |||||||||||||
Anchor handling towing supply | — | — | 2 | ||||||||||
Fast support | 3 | — | — | ||||||||||
Supply | 2 | 1 | 2 | ||||||||||
Specialty | — | 2 | 1 | ||||||||||
Wind farm utility | 2 | 5 | 1 | ||||||||||
7 | 8 | 6 | |||||||||||
Inland River dry-cargo barges | 65 | — | 3 | ||||||||||
Inland River liquid tank barges - 10,000 barrel | — | 2 | 1 | ||||||||||
Inland River liquid tank barges - 30,000 barrel | — | — | 4 | ||||||||||
Inland River towboats | 1 | 1 | 2 | ||||||||||
Short-sea container\RORO - Foreign-flag | 1 | 1 | — | ||||||||||
Harbor tugs - U.S.-flag | — | 4 | — | ||||||||||
______________________ | |||||||||||||
-1 | Excludes two liftboats acquired in the C-Lift acquisition. | ||||||||||||
-2 | Excludes 18 liftboats acquired in the Superior Liftboat acquisition and excludes an interest in one U.S.-flagged articulated tug barge acquired and immediately contributed to SeaJon (see Note 3). | ||||||||||||
ajor equipment dispositions for the years ended December 31 were as follows: | |||||||||||||
2014 | 2013 | 2012(1) | |||||||||||
Offshore Support Vessels: | |||||||||||||
Anchor handling towing supply | 1 | — | 2 | ||||||||||
Fast support | 7 | 5 | 2 | ||||||||||
Mini-supply | — | 1 | — | ||||||||||
Standby Safety | — | — | 1 | ||||||||||
Supply | 4 | 2 | 2 | ||||||||||
Specialty | — | 3 | — | ||||||||||
Liftboats | 1 | 6 | — | ||||||||||
Wind farm utility | 1 | 2 | — | ||||||||||
14 | 19 | 7 | |||||||||||
Inland River dry-cargo barges | 80 | 16 | 9 | ||||||||||
Inland River liquid tank barges - 10,000 barrel | — | — | 1 | ||||||||||
Inland River liquid tank barges - 30,000 barrel | — | 8 | — | ||||||||||
Inland River towboats | 5 | — | 2 | ||||||||||
Product tankers - U.S.-flag | 1 | — | — | ||||||||||
Short-sea container\RORO - Foreign-flag | 2 | — | 1 | ||||||||||
Harbor tugs - U.S.-flag | — | 7 | 3 | ||||||||||
Harbor tugs - Foreign-flag | — | 1 | 2 | ||||||||||
______________________ | |||||||||||||
-1 | Excludes one U.S.-flag articulated tug-barge contributed to SeaJon (see Note 3). |
Investments_At_Equity_And_Adva1
Investments, At Equity, And Advances To 50% Or Less Owned Companies (Tables) | 12 Months Ended | |||||||||||||
Dec. 31, 2014 | ||||||||||||||
Equity Method Investment, Summarized Financial Information [Abstract] | ||||||||||||||
Summarized Financial Information For The Company's Investments, At Equity | Investments, at equity, and advances to 50% or less owned companies as of December 31 were as follows (in thousands): | |||||||||||||
Ownership | 2014 | 2013 | ||||||||||||
Offshore Marine Services: | ||||||||||||||
MexMar | 49.00% | $ | 51,262 | $ | 28,564 | |||||||||
Dynamic Offshore Drilling | 19.00% | 12,815 | 11,622 | |||||||||||
Sea-Cat Crewzer II | 50.00% | 9,983 | 22,900 | |||||||||||
OSV Partners | 30.40% | 9,838 | 3,951 | |||||||||||
Nautical Power | 50.00% | 6,411 | 6,399 | |||||||||||
Sea-Cat Crewzer | 50.00% | 3,062 | 7,833 | |||||||||||
Other | 20.00% | – | 50.00% | 22,065 | 17,891 | |||||||||
115,436 | 99,160 | |||||||||||||
Inland River Services: | ||||||||||||||
SCFCo | 50.00% | 75,799 | 27,710 | |||||||||||
Bunge-SCF Grain | 50.00% | 19,360 | 17,697 | |||||||||||
SCF Bunge Marine | 50.00% | 6,139 | 6,158 | |||||||||||
Other | 50.00% | 2,390 | 3,846 | |||||||||||
103,688 | 55,411 | |||||||||||||
Shipping Services: | ||||||||||||||
Dorian(1) | 16.10% | 139,006 | 129,785 | |||||||||||
Trailer Bridge | 47.30% | 53,447 | 57,881 | |||||||||||
SEA-Access | 50.00% | 16,551 | — | |||||||||||
SeaJon | 50.00% | 7,475 | 9,479 | |||||||||||
SeaJon II | 50.00% | 5,941 | — | |||||||||||
222,420 | 197,145 | |||||||||||||
Other: | ||||||||||||||
Witt O'Brien's(2) | 54.20% | — | 52,289 | |||||||||||
Hawker Pacific | 34.20% | 21,114 | 21,596 | |||||||||||
Avion | 39.10% | 14,107 | 13,127 | |||||||||||
Cleancor | 50.00% | 4,201 | 83 | |||||||||||
Other | 34.00% | – | 50 | % | 3,191 | 2,042 | ||||||||
42,613 | 89,137 | |||||||||||||
$ | 484,157 | $ | 440,853 | |||||||||||
______________________ | ||||||||||||||
-1 | The Company's ownership represents its economic interest in Dorian. The Company exercises significant influence over Dorian through its representation on Dorian's board of directors. | |||||||||||||
-2 | The Company's ownership represents its economic interest in Witt O'Brien's. The Company had a 50% voting interest prior to it acquisition of a controlling interest (see Note 2). | |||||||||||||
Combined Condensed Financials. Summarized financial information for the Company’s investments, at equity, as of and for the years ended December 31 was as follows (in thousands): | ||||||||||||||
2014 | 2013 | |||||||||||||
Current assets | $ | 713,220 | $ | 749,369 | ||||||||||
Noncurrent assets | 1,838,102 | 1,387,601 | ||||||||||||
Current liabilities | 467,124 | 345,260 | ||||||||||||
Noncurrent liabilities | 702,306 | 682,348 | ||||||||||||
2014 | 2013 | 2012 | ||||||||||||
Operating Revenues | $ | 1,253,988 | $ | 1,087,637 | $ | 774,912 | ||||||||
Costs and Expenses: | ||||||||||||||
Operating and administrative | 1,067,964 | 955,583 | 699,061 | |||||||||||
Depreciation | 73,164 | 61,813 | 40,440 | |||||||||||
1,141,128 | 1,017,396 | 739,501 | ||||||||||||
Gains (Loss) on Asset Dispositions | 368 | (397 | ) | — | ||||||||||
Operating Income | $ | 113,228 | $ | 69,844 | $ | 35,411 | ||||||||
Net Income | $ | 43,875 | $ | 17,312 | $ | 4,640 | ||||||||
Construction_Reserve_Funds_Tab
Construction Reserve Funds (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Construction Reserve Funds [Abstract] | |||||||||||||
Schedule of Construction Reserve Funds [Table Text Block] | Construction reserve fund transactions for the years ended December 31 were as follows (in thousands): | ||||||||||||
2014 | 2013 | 2012 | |||||||||||
Withdrawals | $ | (131,167 | ) | $ | (65,493 | ) | $ | (122,695 | ) | ||||
Deposits | 147,450 | 131,603 | 58,350 | ||||||||||
$ | 16,283 | $ | 66,110 | $ | (64,345 | ) | |||||||
LongTerm_Debt_Tables
Long-Term Debt (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Long-term Debt, Unclassified [Abstract] | |||||||||
Schedule Of Company's Borrowings | The Company’s borrowings as of December 31 were as follows (in thousands): | ||||||||
2014 | 2013 | ||||||||
3.0% Convertible Notes (excluding unamortized discount of $42.2 million) | $ | 230,000 | $ | 230,000 | |||||
2.5% Convertible Notes (excluding unamortized discount of $31.2 million) | 350,000 | 350,000 | |||||||
7.375% Senior Notes (excluding unamortized discount of $0.9 million) | 233,500 | 233,500 | |||||||
Title XI Bonds (excluding unamortized discount of $8.7 million) | 79,338 | 85,217 | |||||||
Other (excluding unamortized discount of $0.6 million) | 73,633 | 80,563 | |||||||
966,471 | 979,280 | ||||||||
Portion due within one year | (48,499 | ) | (45,323 | ) | |||||
Debt discount, net | (83,589 | ) | (99,839 | ) | |||||
$ | 834,383 | $ | 834,118 | ||||||
Schedule Of Long-Term Debt Maturities | The Company’s long-term debt maturities for the years ended December 31 are as follows (in thousands): | ||||||||
2015 | $ | 48,499 | |||||||
2016 | 14,198 | ||||||||
2017 | 14,605 | ||||||||
2018 | 14,906 | ||||||||
2019 | 245,545 | ||||||||
Years subsequent to 2019 | 628,718 | ||||||||
$ | 966,471 | ||||||||
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Income Tax Disclosure [Abstract] | |||||||||||||
Schedule Of Income Before Income Tax, Domestic and Foreign | Income from continuing operations before income tax expense (benefit) and equity in earnings (losses) of 50% or less owned companies derived from U.S. and foreign companies for the years ended December 31 were as follows (in thousands): | ||||||||||||
2014 | 2013 | 2012 | |||||||||||
United States | $ | 160,782 | $ | 71,669 | $ | 82,383 | |||||||
Foreign | (5,409 | ) | (7,596 | ) | (176 | ) | |||||||
Eliminations and other | 7,862 | 3,559 | (27,635 | ) | |||||||||
$ | 163,235 | $ | 67,632 | $ | 54,572 | ||||||||
Components Of Income Tax Expense (Benefit) | The Company files a consolidated U.S. federal tax return. The components of income tax expense (benefit) for the years ended December 31 were as follows (in thousands): | ||||||||||||
2014 | 2013 | 2012 | |||||||||||
Current: | |||||||||||||
State | $ | 5,526 | $ | 1,723 | $ | 3,604 | |||||||
Federal | 56,675 | 6,311 | 36,057 | ||||||||||
Foreign | 10,060 | 8,142 | 7,921 | ||||||||||
72,261 | 16,176 | 47,582 | |||||||||||
Deferred: | |||||||||||||
State | 196 | (985 | ) | (40 | ) | ||||||||
Federal | (17,222 | ) | 11,532 | (23,572 | ) | ||||||||
Foreign | (38 | ) | 24 | 211 | |||||||||
(17,064 | ) | 10,571 | (23,401 | ) | |||||||||
$ | 55,197 | $ | 26,747 | $ | 24,181 | ||||||||
Components Of Effective Income Tax Rate Reconciliation | The following table reconciles the difference between the statutory federal income tax rate for the Company and the effective income tax rate on continuing operations for the years ended December 31: | ||||||||||||
2014 | 2013 | 2012 | |||||||||||
Statutory rate | 35 | % | 35 | % | 35 | % | |||||||
Non-deductible expenses | 0.5 | % | 0.4 | % | 6.1 | % | |||||||
Noncontrolling interests | (5.3 | )% | (0.5 | )% | 0.6 | % | |||||||
Reversal of valuation allowance on foreign tax credit carryforwards | — | % | — | % | (5.5 | )% | |||||||
Losses of foreign subsidiaries not benefited | 1.2 | % | 5.1 | % | 4.2 | % | |||||||
State taxes | 2.3 | % | 0.2 | % | 4.2 | % | |||||||
Other | 0.1 | % | (0.6 | )% | (0.3 | )% | |||||||
33.8 | % | 39.6 | % | 44.3 | % | ||||||||
Components Of The Net Deferred Income Tax Liabilities | The components of the net deferred income tax liabilities for the years ended December 31 were as follows (in thousands): | ||||||||||||
2014 | 2013 | ||||||||||||
Deferred tax liabilities: | |||||||||||||
Property and Equipment | $ | 316,269 | $ | 343,411 | |||||||||
Long-term Debt | 58,542 | 56,587 | |||||||||||
Unremitted earnings of foreign subsidiaries | 38,633 | 40,321 | |||||||||||
Investments in 50% or Less Owned Companies | 18,458 | 23,573 | |||||||||||
Gains on marketable securities | 11,082 | 2,064 | |||||||||||
Intangible assets | 7,922 | 1,711 | |||||||||||
Deductible goodwill | 5,595 | 3,501 | |||||||||||
Other | 4,302 | 1,774 | |||||||||||
Total deferred tax liabilities | 460,803 | 472,942 | |||||||||||
Deferred tax assets: | |||||||||||||
Share award plans | 11,081 | 8,347 | |||||||||||
Other | 11,852 | 13,662 | |||||||||||
Total deferred tax assets | 22,933 | 22,009 | |||||||||||
Valuation allowance | (4,906 | ) | (6,778 | ) | |||||||||
Net deferred tax assets | 18,027 | 15,231 | |||||||||||
Net deferred tax liabilities | $ | 442,776 | $ | 457,711 | |||||||||
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||
Fair Value Disclosures [Abstract] | |||||||||||||||||
Financial Assets And Liabilities Measured At Fair Value On Recurring Basis | The Company’s financial assets and liabilities as of December 31 that are measured at fair value on a recurring basis were as follows (in thousands): | ||||||||||||||||
Level 1 | Level 2 | Level 3 | |||||||||||||||
2014 | |||||||||||||||||
ASSETS | |||||||||||||||||
Marketable securities(1) | $ | 58,004 | $ | — | $ | — | |||||||||||
Derivative instruments (included in other receivables) | 2,277 | 6,205 | — | ||||||||||||||
Construction reserve funds and Title XI reserve funds | 278,022 | — | — | ||||||||||||||
LIABILITIES | |||||||||||||||||
Short sales of marketable securities | 7,339 | — | — | ||||||||||||||
Derivative instruments (included in other current liabilities) | 2,834 | 752 | — | ||||||||||||||
2013 | |||||||||||||||||
ASSETS | |||||||||||||||||
Marketable securities(1) | $ | 24,292 | $ | — | $ | — | |||||||||||
Derivative instruments (included in other receivables) | 185 | 6,072 | — | ||||||||||||||
Construction reserve funds and Title XI reserve funds | 261,739 | — | — | ||||||||||||||
LIABILITIES | |||||||||||||||||
Short sales of marketable securities | 10,697 | — | — | ||||||||||||||
Derivative instruments (included in other current liabilities) | 1,511 | 1,828 | — | ||||||||||||||
______________________ | |||||||||||||||||
-1 | Marketable security gains, net include gains of $27.8 million, gains of $6.5 million and losses of $0.4 million for the years ended December 31, 2014, 2013 and 2012, respectively, related to marketable security positions held by the Company as of December 31, 2014. Marketable security gains, net include gains of $5.8 million and losses of $0.7 million for the years ended December 31, 2013 and 2012, respectively, related to marketable security positions held by the Company as of December 31, 2013. | ||||||||||||||||
Estimated Fair Value Of Other Financial Assets And Liabilities | The estimated fair value of the Company’s other financial assets and liabilities as of December 31 were as follows (in thousands): | ||||||||||||||||
Estimated Fair Value | |||||||||||||||||
Carrying | Level 1 | Level 2 | Level 3 | ||||||||||||||
Amount | |||||||||||||||||
2014 | |||||||||||||||||
ASSETS | |||||||||||||||||
Cash, cash equivalents and restricted cash | $ | 450,618 | $ | 450,618 | $ | — | $ | — | |||||||||
Investments, at cost, in 50% or less owned companies (included in other assets) | 10,442 | see below | |||||||||||||||
Notes receivable from third parties (included in other receivables and other assets) | 23,250 | see below | |||||||||||||||
LIABILITIES | |||||||||||||||||
Long-term debt, including current portion(1) | 882,882 | — | 990,146 | — | |||||||||||||
2013 | |||||||||||||||||
ASSETS | |||||||||||||||||
Cash, cash equivalents and restricted cash | 539,610 | 539,610 | — | — | |||||||||||||
Investments, at cost, in 50% or less owned companies (included in other assets) | 9,315 | see below | |||||||||||||||
Notes receivable from third parties (included in other receivables and other assets) | 13,544 | see below | |||||||||||||||
LIABILITIES | |||||||||||||||||
Long-term debt, including current portion(1) | 879,441 | — | 1,094,193 | — | |||||||||||||
______________________ | |||||||||||||||||
-1 | The estimated fair value includes the conversion option on the Company's 2.5% and 3.0% Convertible Notes. | ||||||||||||||||
Non-Financial Assets And Liabilities Measured At Fair Value | The Company’s non-financial assets and liabilities that were measured at fair value during the years ended December 31 were as follows (in thousands): | ||||||||||||||||
Level 1 | Level 2 | Level 3 | |||||||||||||||
2014 | |||||||||||||||||
ASSETS | |||||||||||||||||
Long-lived assets(1) | $ | — | $ | 11,700 | $ | — | |||||||||||
Investment in Witt O'Brien's(2) | — | 50,569 | — | ||||||||||||||
2013 | |||||||||||||||||
ASSETS | |||||||||||||||||
Long-lived assets under construction(3) | $ | 17,494 | $ | — | $ | — | |||||||||||
Investment in C-Lift(4) | — | 13,290 | — | ||||||||||||||
Contribution of non-cash consideration to Dorian(5) | — | 14,989 | — | ||||||||||||||
Investment in Zhuhai SEACOR/Avion Logistics Company Limited (included in Investments, at Equity, and Advances to 50% or Less Owned Companies)(6) | — | 924 | — | ||||||||||||||
______________________ | |||||||||||||||||
-1 | During the year ended December 31, 2014, the Company recognized impairment charges of $4.4 million related to two aircraft and certain tangible and intangible assets in Brazil and $3.3 million related to one of its 50% or less owned companies following the adjustment of their carrying value to fair value. | ||||||||||||||||
-2 | During the year ended December 31, 2014, the Company marked its equity investment in Witt O'Brien's to fair value following its acquisition of a controlling interest (see Note 2). The investment's fair value was determined based on the Company's purchase price of the acquired interest. | ||||||||||||||||
-3 | During the year ended December 31, 2013, the Company recognized impairment charges of $3.0 million related to two of Shipping Services' harbor tugs while under construction, which were sold and leased back upon their completion (see Note 2). | ||||||||||||||||
-4 | During the year ended December 31, 2013, the Company marked its equity investment in C-Lift to fair value following its acquisition of a controlling interest (see Note 2). The investment's fair value was determined based on the Company's purchase price of the acquired interest. | ||||||||||||||||
-5 | During the year ended December 31, 2013, the Company marked to fair value the non-cash consideration contributed to Dorian in exchange for an equity investment (see Note 3). The fair value was determined based on the value of the equity investment the Company received. | ||||||||||||||||
-6 | During the year ended December 31, 2013, the Company marked its equity investment in Zhuhai SEACOR/Avion Logistics Company Limited, an Asian industrial aviation company, to fair value upon the deconsolidation of the previously controlled subsidiary following the sale of a portion of the Company's ownership to a third party. The investment's fair value was determined based on the purchase price of the Company's interest sold. |
Derivative_Instruments_And_Hed1
Derivative Instruments And Hedging Strategies (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |||||||||||||||||
Fair Values Of Derivative Instruments | The fair values of the Company’s derivative instruments as of December 31 were as follows (in thousands): | ||||||||||||||||
2014 | 2013 | ||||||||||||||||
Derivative | Derivative | Derivative | Derivative | ||||||||||||||
Asset | Liability | Asset | Liability | ||||||||||||||
Derivatives not designated as hedging instruments: | |||||||||||||||||
Options on equities and equity indices | $ | — | $ | 65 | $ | 224 | $ | 7 | |||||||||
Forward currency exchange, option and future contracts | 1 | 218 | 349 | 213 | |||||||||||||
Interest rate swap agreements | — | 499 | — | 1,615 | |||||||||||||
Commodity swap, option and future contracts: | |||||||||||||||||
Exchange traded | 2,277 | 2,768 | 185 | 1,504 | |||||||||||||
Non-exchange traded | 6,204 | 36 | 5,499 | — | |||||||||||||
$ | 8,482 | $ | 3,586 | $ | 6,257 | $ | 3,339 | ||||||||||
Recognized Gains (Losses) On Derivative Instruments Designated As Cash Flow Hedges | The Company recognized gains (losses) on derivative instruments designated as cash flow hedges for the years December 31 as follows (in thousands): | ||||||||||||||||
Other comprehensive income (loss) | |||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||
Interest rate swap agreements, effective portion | $ | (140 | ) | $ | 109 | $ | (1,710 | ) | |||||||||
Reclassification of derivative losses to interest expense or equity in earnings (losses) of 50% or less owned companies | 511 | 622 | 2,724 | ||||||||||||||
Reclassification of net derivative losses on cash flow hedges to derivative losses, net upon dedesignation | — | — | 3,272 | ||||||||||||||
$ | 371 | $ | 731 | $ | 4,286 | ||||||||||||
Derivative gains (losses), net | |||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||
Interest rate swap agreements, ineffective portion | $ | — | $ | — | $ | (58 | ) | ||||||||||
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 years ended December 31 as follows (in thousands): | ||||||||||||||||
Derivative gains (losses), net | |||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||
Options on equities and equity indices | $ | 38 | $ | (5,270 | ) | $ | (680 | ) | |||||||||
Forward currency exchange, option and future contracts | (183 | ) | (451 | ) | 837 | ||||||||||||
Interest rate swap agreements | (176 | ) | (37 | ) | (3,778 | ) | |||||||||||
Commodity swap, option and future contracts: | |||||||||||||||||
Exchange traded | (4,250 | ) | (3,915 | ) | (1,020 | ) | |||||||||||
Non-exchange traded | 669 | 1,350 | 1,887 | ||||||||||||||
$ | (3,902 | ) | $ | (8,323 | ) | $ | (2,754 | ) |
Noncontrolling_Interests_in_Su1
Noncontrolling Interests in Subsidiaries Noncontrolling Interests (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Noncontrolling Interest [Abstract] | |||||||||||||
Redeemable Noncontrolling Interest [Table Text Block] | Noncontrolling interests in the Company's consolidated subsidiaries were as follows (in thousands): | ||||||||||||
Noncontrolling Interests | December 31, 2014 | December 31, 2013 | |||||||||||
Offshore Marine Services: | |||||||||||||
Windcat Workboats | 25% | $ | 7,527 | $ | 7,541 | ||||||||
Other | 1.8 | % | – | 33.30% | 1,323 | 1,600 | |||||||
Inland River Services: | |||||||||||||
Other | 3 | % | – | 51.80% | 1,088 | 2,612 | |||||||
Shipping Services: | |||||||||||||
Sea-Vista | 49% | 89,680 | — | ||||||||||
Illinois Corn Processing | 30% | 16,397 | 10,894 | ||||||||||
Other | 5 | % | – | 18.90% | 1,978 | 1,929 | |||||||
$ | 117,993 | $ | 24,576 | ||||||||||
Share_Based_Compensation_Table
Share Based Compensation (Tables) | 12 Months Ended | |||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ||||||||||||||||||||||
Share Based Compensation Plans | Share Award Transactions. The following transactions have occurred in connection with the Company’s share based compensation plans during the years ended December 31: | |||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||
Restricted stock awards granted | 150,145 | 148,300 | 134,600 | |||||||||||||||||||
Restricted stock awards forfeited | (1,325 | ) | (18,000 | ) | (2,120 | ) | ||||||||||||||||
Director stock awards granted | 2,625 | 2,500 | 4,000 | |||||||||||||||||||
Restricted Stock Unit Activities: | ||||||||||||||||||||||
Outstanding as of the beginning of year | — | — | 1,130 | |||||||||||||||||||
Granted | — | — | — | |||||||||||||||||||
Converted to shares | — | — | (1,130 | ) | ||||||||||||||||||
Outstanding as of the end of year | — | — | — | |||||||||||||||||||
Shares released from Deferred Compensation Plan | (216 | ) | (1,692 | ) | — | |||||||||||||||||
Stock Option Activities: | ||||||||||||||||||||||
Outstanding as of the beginning of year | 1,481,280 | 1,281,821 | 1,272,192 | |||||||||||||||||||
Granted(1) | 199,100 | 529,912 | 173,700 | |||||||||||||||||||
Exercised | (133,872 | ) | (328,077 | ) | (149,781 | ) | ||||||||||||||||
Forfeited | — | (800 | ) | — | ||||||||||||||||||
Expired | — | (1,576 | ) | (14,290 | ) | |||||||||||||||||
Outstanding as of the end of year | 1,546,508 | 1,481,280 | 1,281,821 | |||||||||||||||||||
Employee Stock Purchase Plan shares issued | 30,622 | 31,586 | 39,980 | |||||||||||||||||||
Shares available for issuance under Share Incentive and Employee Stock Purchase Plans as of the end of year | 1,127,328 | 508,495 | 1,200,417 | |||||||||||||||||||
______________________ | ||||||||||||||||||||||
-1 | During the year ended December 31, 2013, the Company granted 318,012 stock options to existing option holders, net of share award settlements for Era Group employees and directors, under make-whole provisions upon the Spin-off of Era Group. | |||||||||||||||||||||
Schedule Of Share-based Compensation, Restricted Stock And Restricted Stock Units Activity | During the year ended December 31, 2014, the number of shares and the weighted average grant price of restricted stock transactions were as follows: | |||||||||||||||||||||
Restricted Stock | ||||||||||||||||||||||
Number of | Weighted | |||||||||||||||||||||
Shares | Average | |||||||||||||||||||||
Grant Price | ||||||||||||||||||||||
Nonvested as of December 31, 2013(1) | 302,370 | $ | 70.61 | |||||||||||||||||||
Granted | 150,145 | $ | 88.6 | |||||||||||||||||||
Vested | (52,730 | ) | $ | 69.98 | ||||||||||||||||||
Forfeited | (1,325 | ) | $ | 75.07 | ||||||||||||||||||
Nonvested as of December 31, 2014 | 398,460 | $ | 77.46 | |||||||||||||||||||
Schedule Of Share-based Compensation, Stock Options, Activity | During the year ended December 31, 2014, the number of shares, the weighted average grant date fair value and the weighted average exercise price on stock option transactions were as follows: | |||||||||||||||||||||
Nonvested Options | Vested/Exercisable Options | Total Options | ||||||||||||||||||||
Number of | Weighted | Number of | Weighted | Number of | Weighted | |||||||||||||||||
Shares | Average | Shares | Average | Shares | Average | |||||||||||||||||
Grant Date | Exercise Price | Exercise Price | ||||||||||||||||||||
Fair Value | ||||||||||||||||||||||
Outstanding, as of | 651,606 | $ | 23.36 | 829,674 | $ | 50.42 | 1,481,280 | $ | 57.95 | |||||||||||||
December 31, 2013(1) | ||||||||||||||||||||||
Granted | 199,100 | $ | 25.84 | — | 199,100 | $ | 80.69 | |||||||||||||||
Vested | (245,095 | ) | $ | 22.53 | 245,095 | $ | 62.96 | — | $ | — | ||||||||||||
Exercised | — | $ | — | (133,872 | ) | $ | 44.49 | (133,872 | ) | $ | 44.49 | |||||||||||
Outstanding, as of | 605,611 | $ | 24.51 | 940,897 | $ | 54.53 | 1,546,508 | $ | 62.04 | |||||||||||||
31-Dec-14 | ||||||||||||||||||||||
Commitments_And_Contingencies_
Commitments And Contingencies Schedule of Operating Lease Payments (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Commitments and Contingencies Disclosure [Abstract] | |||||||||||||
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | Future minimum payments in the years ended December 31 under operating leases that have a remaining term in excess of one year as of December 31, 2014 were as follows (in thousands): | ||||||||||||
Total Minimum | Non-cancelable | Net Minimum | |||||||||||
Payments | Subleases(1) | Payments | |||||||||||
2015 | $ | 64,289 | $ | (17,345 | ) | $ | 46,944 | ||||||
2016 | 62,567 | (17,392 | ) | 45,175 | |||||||||
2017 | 67,612 | (17,345 | ) | 50,267 | |||||||||
2018 | 47,730 | (17,345 | ) | 30,385 | |||||||||
2019 | 43,286 | (17,345 | ) | 25,941 | |||||||||
Years subsequent to 2019 | 98,914 | (58,782 | ) | 40,132 | |||||||||
______________________ | |||||||||||||
-1 | The total minimum offsetting payments to be received under existing long-term bareboat charter-out arrangements. |
Major_Customers_And_Segment_In1
Major Customers And Segment Information (Tables) | 12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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(1)(2) $’000 | Other | Corporate | Total | Offshore | Inland | Shipping | ICP(1)(2) $’000 | Other | Corporate | Total | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Offshore | Inland | Shipping | ICP(1)(2) $’000 | Other | Corporate | Total | Marine | River | Services | $’000 | and | $’000 | Marine | River | Services | $’000 | and | $’000 | ||||||||||||||||||||||||||||||||||||||||||||||||
Marine | River | Services | $’000 | and | $’000 | Services | Services | $’000 | Eliminations | Services | Services | $’000 | Eliminations | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Services | Services | $’000 | Eliminations | $’000 | $’000 | $’000 | $’000 | $’000 | $’000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
$’000 | $’000 | $’000 | For the year ended December 31, 2013 | For the year ended December 31, 2012 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
For the year ended December 31, 2014 | Operating Revenues: | Operating Revenues: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Operating Revenues: | External customers | 567,148 | 212,726 | 194,184 | 193,682 | 79,532 | — | 1,247,272 | External customers | 519,707 | 224,409 | 179,928 | 188,650 | 195,603 | — | 1,308,297 | ||||||||||||||||||||||||||||||||||||||||||||||||||
External customers | 529,761 | 249,288 | 214,316 | 236,293 | 89,736 | — | 1,319,394 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Intersegment | 115 | 2,887 | — | — | — | (3,002 | ) | — | Intersegment | 110 | 2,152 | 108 | — | 128 | (2,498 | ) | — | |||||||||||||||||||||||||||||||||||||||||||||||||
Intersegment | 183 | 3,862 | — | — | — | (4,045 | ) | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
567,263 | 215,613 | 194,184 | 193,682 | 79,532 | (3,002 | ) | 1,247,272 | 519,817 | 226,561 | 180,036 | 188,650 | 195,731 | (2,498 | ) | 1,308,297 | |||||||||||||||||||||||||||||||||||||||||||||||||||
529,944 | 253,150 | 214,316 | 236,293 | 89,736 | (4,045 | ) | 1,319,394 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Costs and Expenses: | Costs and Expenses: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Costs and Expenses: | Operating | 382,045 | 152,527 | 117,283 | 184,649 | 75,254 | (2,887 | ) | 908,871 | Operating | 349,680 | 158,596 | 112,125 | 183,442 | 175,957 | (2,331 | ) | 977,469 | ||||||||||||||||||||||||||||||||||||||||||||||||
Operating | 365,092 | 174,918 | 112,771 | 187,849 | 72,644 | (3,902 | ) | 909,372 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Administrative and general | 60,279 | 15,410 | 22,073 | 2,031 | 6,296 | 35,259 | 141,348 | Administrative and general | 59,253 | 15,924 | 22,553 | 1,920 | 23,824 | 43,269 | 166,743 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Administrative and general | 58,353 | 15,937 | 24,518 | 2,177 | 25,137 | 38,816 | 164,938 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Depreciation and amortization | 65,424 | 28,461 | 31,299 | 5,797 | 378 | 3,159 | 134,518 | Depreciation and amortization | 61,542 | 28,270 | 30,635 | 5,757 | 2,874 | 2,589 | 131,667 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Depreciation and amortization | 64,615 | 29,435 | 28,420 | 4,119 | 1,329 | 3,901 | 131,819 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
507,748 | 196,398 | 170,655 | 192,477 | 81,928 | 35,531 | 1,184,737 | 470,475 | 202,790 | 165,313 | 191,119 | 202,655 | 43,527 | 1,275,879 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
488,060 | 220,290 | 165,709 | 194,145 | 99,110 | 38,815 | 1,206,129 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Gains on Asset Dispositions and Impairments, Net | 28,664 | 6,555 | 240 | — | 1,907 | 141 | 37,507 | Gains (Losses) on Asset Dispositions and Impairments, Net | 14,876 | 7,666 | 3,128 | — | (1,527 | ) | (156 | ) | 23,987 | |||||||||||||||||||||||||||||||||||||||||||||||||
Gains (Losses) on Asset Dispositions and Impairments, Net | 26,545 | 29,657 | 159 | — | (1,077 | ) | (3,306 | ) | 51,978 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Operating Income (Loss) | 88,179 | 25,770 | 23,769 | 1,205 | (489 | ) | (38,392 | ) | 100,042 | Operating Income (Loss) | 64,218 | 31,437 | 17,851 | (2,469 | ) | (8,451 | ) | (46,181 | ) | 56,405 | ||||||||||||||||||||||||||||||||||||||||||||||
Operating Income (Loss) | 68,429 | 62,517 | 48,766 | 42,148 | (10,451 | ) | (46,166 | ) | 165,243 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Income (Expense): | Other Income (Expense): | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Income (Expense): | Derivative gains (losses), net | 83 | — | — | (2,078 | ) | 210 | (6,538 | ) | (8,323 | ) | Derivative gains (losses), net | (243 | ) | — | — | (856 | ) | 910 | (2,623 | ) | (2,812 | ) | |||||||||||||||||||||||||||||||||||||||||||
Derivative gains (losses), net | (171 | ) | — | — | (3,777 | ) | 270 | (224 | ) | (3,902 | ) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Foreign currency losses, net | (2,209 | ) | (167 | ) | (14 | ) | — | (342 | ) | (619 | ) | (3,351 | ) | Foreign currency gains, net | 1,077 | 84 | 6 | — | 2 | 462 | 1,631 | |||||||||||||||||||||||||||||||||||||||||||||
Foreign currency losses, net | (1,375 | ) | (3,335 | ) | (40 | ) | — | (155 | ) | (1,430 | ) | (6,335 | ) | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Other, net | 3 | — | 760 | — | 12 | (189 | ) | 586 | Other, net | 2 | (1 | ) | 7,452 | — | — | (305 | ) | 7,148 | ||||||||||||||||||||||||||||||||||||||||||||||||
Other, net | 14,671 | (38 | ) | (3,630 | ) | 660 | (8,153 | ) | (71 | ) | 3,439 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Equity in Earnings (Losses) of 50% or Less Owned Companies, Net of Tax | 13,522 | (7,626 | ) | (2,945 | ) | — | 4,313 | — | 7,264 | Equity in Earnings (Losses) of 50% or Less Owned Companies, Net of Tax | 5,214 | (3,310 | ) | (4,148 | ) | 6,154 | (9,674 | ) | — | (5,764 | ) | |||||||||||||||||||||||||||||||||||||||||||||
Equity in Earnings (Losses) of 50% or Less Owned Companies, Net of Tax | 10,468 | 6,673 | (661 | ) | — | (171 | ) | — | 16,309 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Segment Profit (Loss) | 99,578 | 17,977 | 21,570 | (873 | ) | 3,704 | Segment Profit (Loss) | 70,268 | 28,210 | 21,161 | 2,829 | (17,213 | ) | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Segment Profit (Loss) | 92,022 | 65,817 | 44,435 | 39,031 | (18,660 | ) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Income (Expense) not included in Segment Profit | (21,322 | ) | Other Income (Expense) not included in Segment Profit | (7,800 | ) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Income (Expense) not included in Segment Profit | 4,790 | Less Equity Losses included in Segment Profit | (7,264 | ) | Less Equity Earnings included in Segment Profit | 5,764 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Income Before Taxes, Equity Earnings and Discontinued Operations | 67,632 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Less Equity Earnings included in Segment Profit | (16,309 | ) | Income Before Taxes, Equity Earnings and Discontinued Operations | 54,572 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Income Before Taxes, Equity Earnings and Discontinued Operations | 163,235 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Capital Expenditures of Continuing Operations | 111,517 | 37,360 | 43,713 | 1,115 | 385 | 1,811 | 195,901 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Capital Expenditures of Continuing Operations | 168,778 | 28,818 | 31,235 | 96 | 6,576 | 3,847 | 239,350 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Capital Expenditures of Continuing Operations | 83,513 | 58,481 | 199,602 | 3,108 | 148 | 15,785 | 360,637 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
As of December 31, 2013 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Property and Equipment: | As of December 31, 2012 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
As of December 31, 2014 | Historical cost | 1,139,639 | 481,421 | 498,951 | 44,166 | 3,967 | 31,039 | 2,199,183 | Property and Equipment | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Property and Equipment: | Historical cost | 1,158,169 | 491,653 | 506,054 | 43,789 | 8,276 | 30,442 | 2,238,383 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Historical cost | 1,060,986 | 491,079 | 453,862 | 47,256 | 3,613 | 30,161 | 2,086,957 | Accumulated depreciation | (471,590 | ) | (147,698 | ) | (223,667 | ) | (11,390 | ) | (662 | ) | (11,323 | ) | (866,330 | ) | ||||||||||||||||||||||||||||||||||||||||||||
668,049 | 333,723 | 275,284 | 32,776 | 3,305 | 19,716 | 1,332,853 | Accumulated depreciation | (422,564 | ) | (127,112 | ) | (198,943 | ) | (5,679 | ) | (398 | ) | (9,107 | ) | (763,803 | ) | |||||||||||||||||||||||||||||||||||||||||||||
Accumulated depreciation | (500,007 | ) | (159,532 | ) | (213,072 | ) | (15,488 | ) | (3,249 | ) | (10,936 | ) | (902,284 | ) | 735,605 | 364,541 | 307,111 | 38,110 | 7,878 | 21,335 | 1,474,580 | |||||||||||||||||||||||||||||||||||||||||||||
560,979 | 331,547 | 240,790 | 31,768 | 364 | 19,225 | 1,184,673 | Construction in progress | 102,452 | 28,855 | 11,324 | 738 | 113 | — | 143,482 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Construction in progress | 66,088 | 11,122 | 29,972 | — | 3,040 | 74 | 110,296 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Construction in progress | 87,935 | 27,415 | 201,554 | 718 | 234 | 144 | 318,000 | Property and Equipment | 770,501 | 362,578 | 286,608 | 33,514 | 3,418 | 19,716 | 1,476,335 | |||||||||||||||||||||||||||||||||||||||||||||||||||
801,693 | 375,663 | 337,083 | 38,110 | 10,918 | 21,409 | 1,584,876 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
648,914 | 358,962 | 442,344 | 32,486 | 598 | 19,369 | 1,502,673 | Investments, at Equity, and Advances to 50% or Less Owned Companies | 99,160 | 55,411 | 197,145 | — | 89,137 | — | 440,853 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Investments, at Equity, and Advances to 50% or Less Owned Companies | 66,805 | 53,844 | 67,023 | — | 84,863 | — | 272,535 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investments, at Equity, and Advances to 50% or Less Owned Companies | 115,436 | 103,688 | 222,420 | — | 42,613 | — | 484,157 | Inventories | 6,315 | 2,279 | 1,329 | 16,172 | 1,520 | — | 27,615 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Inventories | 6,779 | 2,623 | 1,728 | 11,770 | 2,887 | — | 25,787 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Inventories | 5,570 | 2,536 | 1,030 | 11,170 | 2,477 | — | 22,783 | Goodwill | 13,367 | 2,766 | 1,852 | — | — | — | 17,985 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Goodwill | 13,367 | 2,759 | 1,852 | — | — | — | 17,978 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Goodwill | 13,367 | 2,573 | 1,852 | — | 44,967 | — | 62,759 | Intangible Assets | 3,650 | 7,568 | 859 | 7 | 339 | — | 12,423 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Intangible Assets | 4,086 | 9,214 | 1,410 | 93 | 502 | — | 15,305 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Intangible Assets | 1,917 | 6,483 | 292 | — | 24,035 | — | 32,727 | Other current and long-term assets, excluding cash and near cash assets(3) | 149,239 | 69,267 | 15,097 | 5,409 | 47,584 | 28,785 | 315,381 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Other current and long-term assets, excluding cash and near cash assets(1) | 139,757 | 75,661 | 14,183 | 6,533 | 72,123 | 33,393 | 341,650 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other current and long-term assets, excluding cash and near cash assets(3) | 128,499 | 99,335 | 23,910 | 11,538 | 71,678 | 18,330 | 353,290 | Segment Assets | 1,042,232 | 499,869 | 502,890 | 55,102 | 141,998 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Segment Assets | 1,032,487 | 519,764 | 423,279 | 56,506 | 171,293 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Segment Assets | 913,703 | 573,577 | 691,848 | 55,194 | 186,368 | Cash and near cash assets(3) | 825,641 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cash and near cash assets(3) | 493,786 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cash and near cash assets(3) | 786,644 | Discontinued operations | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Discontinued operations | 948,877 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Assets | 3,245,033 | Total Assets | 3,116,233 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Assets | 3,700,794 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
______________________ | ______________________ | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
______________________ | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
-1 | Operating revenues includes $224.4 million of tangible product sales and operating expenses includes $175.8 million of costs of goods sold. | -1 | Operating revenues includes $191.6 million of tangible product sales and operating expenses includes $184.6 million of costs of goods sold. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
-1 | Operating revenues includes $184.9 million of tangible product sales and operating expenses includes $179.7 million of costs of goods sold. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
-2 | Inventories include raw materials of $2.2 million and work in process of $1.7 million. | -2 | Inventories include raw materials of $1.8 million and work in process of $1.8 million. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
-2 | Inventories include raw materials of $2.4 million and work in process of $1.8 million. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
-3 | Cash and near cash assets includes cash, cash equivalents, restricted cash, marketable securities, construction reserve funds and Title XI reserve funds. | -3 | Cash and near cash assets includes cash, cash equivalents, restricted cash, marketable securities, construction reserve funds and Title XI reserve funds. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
-3 | Cash and near cash assets includes cash, cash equivalents, restricted cash, marketable securities, construction reserve funds and Title XI reserve funds. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Revenues Attributed By Geographical Region | The following represents the Company’s revenues attributed by geographical region in which services are provided to customers for the years ended December 31 (in thousands): | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Operating Revenues: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
United States | $ | 925,750 | $ | 845,056 | $ | 823,693 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Africa, primarily West Africa | 70,743 | 79,991 | 75,484 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Europe, primarily North Sea | 112,644 | 101,834 | 107,766 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Asia | 22,393 | 26,203 | 21,039 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Middle East | 47,205 | 51,930 | 49,941 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Brazil, Mexico, Central and South America | 140,460 | 142,258 | 229,986 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other | 199 | — | 388 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
$ | 1,319,394 | $ | 1,247,272 | $ | 1,308,297 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Property And Equipment Based Upon The Assets' Physical Location | The Company’s long-lived assets are primarily its property and equipment that are employed in various geographical regions of the world. The following represents the Company’s property and equipment based upon the assets’ physical location as of December 31 (in thousands): | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Property and Equipment: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
United States | $ | 1,120,765 | $ | 1,094,370 | $ | 1,158,038 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Africa, primarily West Africa | 82,495 | 73,137 | 77,860 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Europe, primarily North Sea | 75,382 | 93,713 | 97,631 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Asia | 19,807 | 21,485 | 25,305 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Middle East | 64,791 | 61,134 | 99,863 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Brazil, Mexico, Central and South America | 139,433 | 132,496 | 126,179 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
$ | 1,502,673 | $ | 1,476,335 | $ | 1,584,876 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Discountinued_Operations_Disco1
Discountinued Operations Discontinued Operations (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Discontinued Operations and Disposal Groups [Abstract] | |||||||||
Schedule of Disposal Groups, Including Discontinued Operations, Income Statement, Balance Sheet and Additional Disclosures [Table Text Block] | Summarized selected operating results of the discontinued operations for the years ended December 31 were as follows (in thousands): | ||||||||
2013 | 2012 | ||||||||
SES Business | |||||||||
Operating Revenues | $ | — | $ | 22,387 | |||||
Costs and Expenses: | |||||||||
Operating | — | 18,234 | |||||||
Administrative and general | — | 4,624 | |||||||
Depreciation and amortization | — | 1,428 | |||||||
— | 24,286 | ||||||||
Losses on Asset Dispositions | — | (71 | ) | ||||||
Operating Loss | — | (1,970 | ) | ||||||
Other Income (Expense), Net (including gain on sale of business) | (1,537 | ) | 24,971 | ||||||
Income Tax (Expense), Net | 538 | (6,342 | ) | ||||||
Equity in Earnings of 50% or Less Owned Companies | — | 301 | |||||||
Net Income (Loss) | $ | (999 | ) | $ | 16,960 | ||||
SEI | |||||||||
Operating Revenues | $ | — | $ | 515,468 | |||||
Costs and Expenses: | |||||||||
Operating | — | 503,294 | |||||||
Administrative and general | — | 5,579 | |||||||
Depreciation and amortization | — | (3 | ) | ||||||
— | 508,870 | ||||||||
Operating Income | — | 6,598 | |||||||
Other Income (Expense), Net (including gain on sale of business) | (143 | ) | 8,083 | ||||||
Income Tax (Expense), Net | 50 | (4,856 | ) | ||||||
Net Income (Loss) | $ | (93 | ) | $ | 9,825 | ||||
Era Group | |||||||||
Operating Revenues | $ | 22,892 | $ | 272,921 | |||||
Costs and Expenses: | |||||||||
Operating | 14,076 | 167,195 | |||||||
Administrative and general | 2,653 | 34,785 | |||||||
Depreciation and amortization | 3,875 | 42,502 | |||||||
20,604 | 244,482 | ||||||||
Gains on Asset Dispositions | 548 | 3,612 | |||||||
Operating Income | 2,836 | 32,051 | |||||||
Other Income (Expense), Net | (1,316 | ) | (9,478 | ) | |||||
Income Tax (Expense), Net | (10,818 | ) | (7,998 | ) | |||||
Equity in Earnings (Losses) of 50% or Less Owned Companies | 65 | (5,528 | ) | ||||||
Net Income (Loss) | $ | (9,233 | ) | $ | 9,047 | ||||
Eliminations | |||||||||
Operating Revenues | $ | — | $ | (109,941 | ) | ||||
Costs and Expenses: | |||||||||
Operating | — | (109,938 | ) | ||||||
Administrative and general | — | (3 | ) | ||||||
— | (109,941 | ) | |||||||
Operating Income | $ | — | $ | — | |||||
Supplemental_Information_For_S1
Supplemental Information For Statements Of Cash Flows (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Supplemental Cash Flow Information [Abstract] | |||||||||||||
Cash Flow Supplemental Information | Supplemental information for the years ended December 31 was as follows (in thousands): | ||||||||||||
2014 | 2013 | 2012 | |||||||||||
Income taxes paid | $ | 52,348 | $ | 4,285 | $ | 24,378 | |||||||
Income taxes refunded | 2,055 | 2,739 | 11,317 | ||||||||||
Interest paid, excluding capitalized interest | 24,719 | 32,388 | 46,457 | ||||||||||
Schedule of Non-Cash Investing and Financing Activities: | |||||||||||||
Distribution of Era Group stock to shareholders | — | 415,209 | — | ||||||||||
Marketable securities reclassified to investment in Trailer Bridge | — | — | 48,064 | ||||||||||
(see Note 3) | |||||||||||||
Company financed sale of equipment and real property | 45,305 | 10,263 | 48,848 | ||||||||||
Contribution of assets to 50% or less owned companies | — | — | 15,123 | ||||||||||
Issuance of Common Stock on Windcat Acquisition (See Note 2) | — | — | 585 | ||||||||||
Quarterly_Financial_Informatio1
Quarterly Financial Information (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||
Quarterly Financial Data [Abstract] | |||||||||||||||||
Quarterly Financial Information | |||||||||||||||||
Three Months Ended | |||||||||||||||||
Dec. 31, | Sept. 30, | June 30, | March 31, | ||||||||||||||
2014 | |||||||||||||||||
Operating Revenues | $ | 342,217 | $ | 338,936 | $ | 328,224 | $ | 310,017 | |||||||||
Operating Income | 57,416 | 50,870 | 32,707 | 24,250 | |||||||||||||
Income from Continuing Operations | 49,329 | 33,778 | 27,525 | 13,715 | |||||||||||||
Loss from Discontinued Operations, Net of Tax | — | — | — | — | |||||||||||||
Net Income | 49,329 | 33,778 | 27,525 | 13,715 | |||||||||||||
Net Income attributable to SEACOR Holdings Inc.: | |||||||||||||||||
Continuing Operations | $ | 40,093 | $ | 27,463 | $ | 21,067 | $ | 11,509 | |||||||||
Discontinued Operations | — | — | — | — | |||||||||||||
$ | 40,093 | $ | 27,463 | $ | 21,067 | $ | 11,509 | ||||||||||
Basic Earnings Per Common Share of SEACOR Holdings Inc.: | |||||||||||||||||
Continuing Operations | $ | 2.22 | $ | 1.43 | $ | 1.05 | $ | 0.57 | |||||||||
Discontinued Operations | — | — | — | — | |||||||||||||
$ | 2.22 | $ | 1.43 | $ | 1.05 | $ | 0.57 | ||||||||||
Diluted Earnings Per Common Share of SEACOR Holdings Inc.: | |||||||||||||||||
Continuing Operations | $ | 1.85 | $ | 1.28 | $ | 0.98 | $ | 0.56 | |||||||||
Discontinued Operations | — | — | — | — | |||||||||||||
$ | 1.85 | $ | 1.28 | $ | 0.98 | $ | 0.56 | ||||||||||
Three Months Ended | |||||||||||||||||
Dec. 31, | Sept. 30, | June 30, | March 31, | ||||||||||||||
2013 | |||||||||||||||||
Operating Revenues | $ | 327,861 | $ | 336,784 | $ | 315,563 | $ | 267,064 | |||||||||
Operating Income (Loss) | 30,307 | 51,508 | 19,254 | (1,027 | ) | ||||||||||||
Income (Loss) from Continuing Operations | 9,120 | 30,769 | 19,296 | (11,036 | ) | ||||||||||||
Loss from Discontinued Operations, Net of Tax | — | — | — | (10,325 | ) | ||||||||||||
Net Income (Loss) | 9,120 | 30,769 | 19,296 | (21,361 | ) | ||||||||||||
Net Income (Loss) attributable to SEACOR Holdings Inc.: | |||||||||||||||||
Continuing Operations | $ | 8,396 | $ | 30,291 | $ | 19,271 | $ | (10,763 | ) | ||||||||
Discontinued Operations | — | — | — | (10,225 | ) | ||||||||||||
$ | 8,396 | $ | 30,291 | $ | 19,271 | $ | (20,988 | ) | |||||||||
Basic Earnings (Loss) Per Common Share of SEACOR Holdings Inc.: | |||||||||||||||||
Continuing Operations | $ | 0.42 | $ | 1.52 | $ | 0.97 | $ | (0.55 | ) | ||||||||
Discontinued Operations | — | — | — | (0.51 | ) | ||||||||||||
$ | 0.42 | $ | 1.52 | $ | 0.97 | $ | (1.06 | ) | |||||||||
Diluted Earnings (Loss) Per Common Share of SEACOR Holdings Inc.: | |||||||||||||||||
Continuing Operations | $ | 0.41 | $ | 1.36 | $ | 0.91 | $ | (0.55 | ) | ||||||||
Discontinued Operations | — | — | — | (0.51 | ) | ||||||||||||
$ | 0.41 | $ | 1.36 | $ | 0.91 | $ | (1.06 | ) | |||||||||
Nature_Of_Operations_And_Accou3
Nature Of Operations And Accounting Policies (Narrative) (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Nature of Operations and Accounting Policies [Line Items] | |||
Current Fiscal Year End Date | -19 | ||
Inventory write-down | $400,000 | $200,000 | $200,000 |
Depreciation | 127,600,000 | 130,200,000 | 126,100,000 |
Capitalized interest | 17,000,000 | 6,400,000 | 4,300,000 |
Amortization expense | 4,262,000 | 4,349,000 | 5,600,000 |
Asset Impairment Charges | 3,000,000 | 1,200,000 | |
Amortization expense for deferred financing costs. | $2,300,000 | $1,900,000 | $500,000 |
Offshore Marine Services [Member] | |||
Nature of Operations and Accounting Policies [Line Items] | |||
Percentage of Operating Revenues | 40.00% | 45.00% | 40.00% |
Inland River Services [Member] | |||
Nature of Operations and Accounting Policies [Line Items] | |||
Percentage of Operating Revenues | 19.00% | 17.00% | 17.00% |
Shipping Services [Member] | |||
Nature of Operations and Accounting Policies [Line Items] | |||
Percentage of Operating Revenues | 16.00% | 16.00% | 14.00% |
Illinois Corn Processing Llc [Member] | |||
Nature of Operations and Accounting Policies [Line Items] | |||
Percentage of Operating Revenues | 18.00% | 16.00% | 14.00% |
Nature_Of_Operations_And_Accou4
Nature Of Operations And Accounting Policies (Deferred Revenues Included In Other Current Liabilities) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Accounting Policies [Abstract] | |||
Balance at beginning of period | $6,592 | $6,592 | $9,845 |
Revenues deferred during the period | 202 | 0 | 3,806 |
Revenues recognized during the period | 0 | 0 | -7,059 |
Balance at end of period | $6,794 | $6,592 | $6,592 |
Nature_Of_Operations_And_Accou5
Nature Of Operations And Accounting Policies (Estimated Useful life Of Major Assets) (Details) | 12 Months Ended |
Dec. 31, 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 |
Short-sea Container\RORO Vessels [Member] | |
Property, Plant and Equipment [Line Items] | |
Estimated useful life (in years) | 20 years |
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 |
Nature_Of_Operations_And_Accou6
Nature Of Operations And Accounting Policies (Schedule Of Property And Equipment By Major Classes) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Property, Plant and Equipment [Line Items] | |||
Current Fiscal Year End Date | -19 | ||
Property, Plant and Equipment, Gross | $2,086,957 | $2,199,183 | |
Accumulated Depreciation | 902,284 | 866,330 | |
Net property and equipment | 1,502,673 | 1,476,335 | 1,584,876 |
Property, Plant and Equipment, Net In Service | 1,184,673 | 1,332,853 | |
Offshore Support Vessels [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Gross | 968,461 | 1,047,119 | |
Accumulated Depreciation | 459,531 | 438,528 | |
Net property and equipment | 508,930 | 608,591 | |
Wind Farm Utility Vessel [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Gross | 65,634 | 65,094 | |
Accumulated Depreciation | 20,658 | 14,121 | |
Net property and equipment | 44,976 | 50,973 | |
Inland River Dry Cargo And Deck Barges [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Gross | 252,580 | 241,210 | |
Accumulated Depreciation | 84,100 | 80,772 | |
Net property and equipment | 168,480 | 160,438 | |
Inland River Liquid Tank Barges [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Gross | 85,639 | 85,639 | |
Accumulated Depreciation | 21,531 | 18,138 | |
Net property and equipment | 64,108 | 67,501 | |
Inland River Towboats [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Gross | 53,750 | 61,407 | |
Accumulated Depreciation | 18,671 | 22,454 | |
Net property and equipment | 35,079 | 38,953 | |
U.S.-flag Product Tankers [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Gross | 271,141 | 318,497 | |
Accumulated Depreciation | 153,317 | 173,278 | |
Net property and equipment | 117,824 | 145,219 | |
Short-sea Container\RORO Vessels [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Gross | 20,954 | 18,328 | |
Accumulated Depreciation | 3,964 | 3,995 | |
Net property and equipment | 16,990 | 14,333 | |
Harbor and offshore tugs [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Gross | 101,762 | 101,762 | |
Accumulated Depreciation | 40,182 | 34,017 | |
Net property and equipment | 61,580 | 67,745 | |
Ocean Liquid Tank Barge [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Gross | 39,238 | 39,238 | |
Accumulated Depreciation | 8,755 | 7,335 | |
Net property and equipment | 30,483 | 31,903 | |
Terminal And Manufacturing Facilities [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Gross | 127,977 | 120,601 | |
Accumulated Depreciation | 44,812 | 33,594 | |
Net property and equipment | 83,165 | 87,007 | |
Equipment Furniture Fixtures Vehicles And Other [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Gross | 99,821 | 100,288 | |
Accumulated Depreciation | 46,763 | 40,098 | |
Net property and equipment | $53,058 | $60,190 |
Nature_Of_Operations_And_Accou7
Nature Of Operations And Accounting Policies (Schedule Of Intangible Assets) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Finite-Lived Intangible Assets [Line Items] | |||
Intangible Assets, Gross, Beginning Balance | $39,684 | $43,426 | |
Acquired intangible assets | 24,901 | 1,599 | |
Finite-lived Intangible Assets, Translation and Purchase Accounting Adjustments | -119 | -132 | |
Impairment of Intangible Assets, Finite-lived | -367 | ||
Finite-Lived Intangible Assets, Period Increase (Decrease) | -211 | -5,209 | |
Intangible Assets, Gross, Ending Balance | 63,888 | 39,684 | 43,426 |
Accumulated Amortization, Beginning Balance | 27,261 | 28,121 | |
Amortization expense | 4,262 | 4,349 | 5,600 |
Impairment of Intangible Assets, Finite-lived, Accumulated Amortization | -151 | ||
Fully amortized intangible assets, Accumulated Amortization | 211 | 5,209 | |
Accumulated Amortization, Ending Balance | 31,161 | 27,261 | 28,121 |
Weighted average remaining contractual life, in years | 10 years 4 months 17 days | ||
Non-Compete Agreements | |||
Finite-Lived Intangible Assets [Line Items] | |||
Intangible Assets, Gross, Beginning Balance | 40 | 40 | |
Acquired intangible assets | 0 | 0 | |
Finite-lived Intangible Assets, Translation and Purchase Accounting Adjustments | 0 | 0 | |
Impairment of Intangible Assets, Finite-lived | 0 | ||
Finite-Lived Intangible Assets, Period Increase (Decrease) | -40 | 0 | |
Intangible Assets, Gross, Ending Balance | 0 | 40 | |
Accumulated Amortization, Beginning Balance | 33 | 25 | |
Amortization expense | 7 | 8 | |
Impairment of Intangible Assets, Finite-lived, Accumulated Amortization | 0 | ||
Fully amortized intangible assets, Accumulated Amortization | 40 | 0 | |
Accumulated Amortization, Ending Balance | 0 | 33 | |
Weighted average remaining contractual life, in years | 0 years | ||
Trademark/Tradenames | |||
Finite-Lived Intangible Assets [Line Items] | |||
Intangible Assets, Gross, Beginning Balance | 8,061 | 8,424 | |
Acquired intangible assets | 2,620 | 74 | |
Finite-lived Intangible Assets, Translation and Purchase Accounting Adjustments | 0 | 0 | |
Impairment of Intangible Assets, Finite-lived | 0 | ||
Finite-Lived Intangible Assets, Period Increase (Decrease) | 0 | -437 | |
Intangible Assets, Gross, Ending Balance | 10,681 | 8,061 | |
Accumulated Amortization, Beginning Balance | 4,530 | 3,983 | |
Amortization expense | 899 | 984 | |
Impairment of Intangible Assets, Finite-lived, Accumulated Amortization | 0 | ||
Fully amortized intangible assets, Accumulated Amortization | 0 | 437 | |
Accumulated Amortization, Ending Balance | 5,429 | 4,530 | |
Weighted average remaining contractual life, in years | 7 years 10 months 6 days | ||
Customer Relationships | |||
Finite-Lived Intangible Assets [Line Items] | |||
Intangible Assets, Gross, Beginning Balance | 28,112 | 26,587 | |
Acquired intangible assets | 20,629 | 1,525 | |
Finite-lived Intangible Assets, Translation and Purchase Accounting Adjustments | 0 | 0 | |
Impairment of Intangible Assets, Finite-lived | 0 | ||
Finite-Lived Intangible Assets, Period Increase (Decrease) | -171 | 0 | |
Intangible Assets, Gross, Ending Balance | 48,570 | 28,112 | |
Accumulated Amortization, Beginning Balance | 21,468 | 19,014 | |
Amortization expense | 2,882 | 2,454 | |
Impairment of Intangible Assets, Finite-lived, Accumulated Amortization | 0 | ||
Fully amortized intangible assets, Accumulated Amortization | 171 | 0 | |
Accumulated Amortization, Ending Balance | 24,179 | 21,468 | |
Weighted average remaining contractual life, in years | 11 years 5 months 8 days | ||
Software/Technology | |||
Finite-Lived Intangible Assets [Line Items] | |||
Intangible Assets, Gross, Beginning Balance | 0 | 0 | |
Acquired intangible assets | 1,652 | 0 | |
Finite-lived Intangible Assets, Translation and Purchase Accounting Adjustments | 0 | 0 | |
Impairment of Intangible Assets, Finite-lived | 0 | ||
Finite-Lived Intangible Assets, Period Increase (Decrease) | 0 | 0 | |
Intangible Assets, Gross, Ending Balance | 1,652 | 0 | |
Accumulated Amortization, Beginning Balance | 0 | 0 | |
Amortization expense | 96 | 0 | |
Impairment of Intangible Assets, Finite-lived, Accumulated Amortization | 0 | ||
Fully amortized intangible assets, Accumulated Amortization | 0 | 0 | |
Accumulated Amortization, Ending Balance | 96 | 0 | |
Weighted average remaining contractual life, in years | 9 years 4 months 24 days | ||
Acquired Contractual Rights | |||
Finite-Lived Intangible Assets [Line Items] | |||
Intangible Assets, Gross, Beginning Balance | 3,471 | 8,375 | |
Acquired intangible assets | 0 | 0 | |
Finite-lived Intangible Assets, Translation and Purchase Accounting Adjustments | -119 | -132 | |
Impairment of Intangible Assets, Finite-lived | -367 | ||
Finite-Lived Intangible Assets, Period Increase (Decrease) | 0 | -4,772 | |
Intangible Assets, Gross, Ending Balance | 2,985 | 3,471 | |
Accumulated Amortization, Beginning Balance | 1,230 | 5,099 | |
Amortization expense | 378 | 903 | |
Impairment of Intangible Assets, Finite-lived, Accumulated Amortization | -151 | ||
Fully amortized intangible assets, Accumulated Amortization | 0 | 4,772 | |
Accumulated Amortization, Ending Balance | $1,457 | $1,230 | |
Weighted average remaining contractual life, in years | 3 years 3 months 22 days |
Nature_Of_Operations_And_Accou8
Nature Of Operations And Accounting Policies (Schedule Of Future Amortization Expense Of Intangible Assets) (Details) (USD $) | Dec. 31, 2014 |
In Thousands, unless otherwise specified | |
Finite-Lived Intangible Assets, Future Amortization Expense [Abstract] | |
2015 | $4,138 |
2016 | 3,106 |
2017 | 2,945 |
2018 | 2,924 |
2019 | 2,924 |
Years subsequent to 2019 | 16,690 |
Total | $32,727 |
Nature_Of_Operations_And_Accou9
Nature Of Operations And Accounting Policies (Schedule Of Deferred Gain Activity) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Deferred Revenue Arrangement [Line Items] | |||
Current Fiscal Year End Date | -19 | ||
Sale Leaseback and Financed Equipment Sales | |||
Deferred Revenue Arrangement [Line Items] | |||
Balance at beginning of period | $110,542 | $96,447 | $101,155 |
Deferred gains arising from vessel sales | 71,367 | 26,881 | 23,183 |
Amortization of deferred gains included in operating expenses as a reduction to rental expense | 18,847 | 10,687 | 16,652 |
Amortization Of Deferred Gains Included In Gains On Asset Dispositions And Impairments, Net | 15,686 | 2,099 | 11,239 |
Reductions of deferred gains on repurchased vessels and other | 842 | 0 | 0 |
Balance at end of period | 146,534 | 110,542 | 96,447 |
Fifty Percent Or Less Owned Subsidiaries | |||
Deferred Revenue Arrangement [Line Items] | |||
Balance at beginning of period | 14,221 | 15,066 | 16,036 |
Amortization Of Deferred Gains Included In Gains On Asset Dispositions And Impairments, Net | 844 | 845 | 970 |
Balance at end of period | $13,377 | $14,221 | $15,066 |
Recovered_Sheet1
Nature Of Operations And Accounting Policies Nature Of Operations And Accounting Policies (Schedule of Accumulated Other Comprehensive Income (Loss))(Details) (USD $) | 12 Months Ended | |||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Accumulated Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Net of Tax | ($3,494) | ($927) | ($1,238) | ($4,404) |
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, before Tax, Portion Attributable to Parent | -3,949 | 563 | 4,871 | |
Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Tax, Portion Attributable to Parent | 1,382 | -197 | -1,705 | |
Accumulated Other Comprehensive Income (Loss), Cumulative Changes in Net Gain (Loss) from Cash Flow Hedges, Effect Net of Tax | -16 | -257 | -732 | -3,518 |
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, before Tax, Portion Attributable to Parent | 371 | 731 | 4,286 | |
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Tax, Portion Attributable to Parent | -130 | -256 | -1,500 | |
Accumulated Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Net of Tax | 5 | -8 | -16 | -36 |
Other Comprehensive (Income) Loss, Pension and Other Postretirement Benefit Plans, Adjustment, before Tax, Portion Attributable to Parent | 20 | 12 | 31 | |
Other Comprehensive (Income) Loss, Pension and Other Postretirement Benefit Plans, Tax, Portion Attributable to Parent | -7 | -4 | -11 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax | -3,505 | -1,192 | -1,986 | -7,958 |
Comprehensive Income attributable to SEACOR Holdings Inc. | 97,819 | 37,819 | 67,187 | |
Other Comprehensive Income (Loss), before Tax, Portion Attributable to Parent | -3,558 | 1,306 | 9,188 | |
Other Comprehensive Income (Loss), Tax, Portion Attributable to Parent | 1,245 | -457 | -3,216 | |
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax, Portion Attributable to Noncontrolling Interest | 0 | |||
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, before Tax, Portion Attributable to Noncontrolling Interest | -481 | 74 | 439 | |
Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Tax, Portion Attributable to Noncontrolling Interest | 0 | 0 | 0 | |
Other Comprehensive (Income) Loss, Pension and Other Postretirement Benefit Plans, Adjustment, Net of Tax, Portion Attributable to Noncontrolling Interest | 0 | |||
Other Comprehensive (Income) Loss, Pension and Other Postretirement Benefit Plans, Adjustment, before Tax, Portion Attributable to Noncontrolling Interest | 8 | 5 | -10 | |
Other Comprehensive (Income) Loss, Pension and Other Postretirement Benefit Plans, Tax, Portion Attributable to Noncontrolling Interest | 0 | 0 | 0 | |
Other Comprehensive Income (Loss), before Tax | -4,031 | 1,385 | 9,617 | |
Other Comprehensive Income (Loss), Tax | -1,245 | 457 | -3,216 | |
Other Comprehensive Income (Loss), Net of Tax | -2,786 | 928 | 6,401 | |
Non-Controlling Interests In Subsidiaries [Member] | ||||
Accumulated Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Net of Tax | -86 | 395 | 321 | -118 |
Accumulated Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Net of Tax | 3 | -5 | -10 | 0 |
Other Comprehensive Income (Loss), Net of Tax | 473 | 79 | 429 | |
Era Group [Member] | ||||
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax | -55 | |||
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax | 0 | |||
Other Comprehensive (Income) Loss, Pension and Other Postretirement Benefit Plans, Adjustment, Net of Tax | 0 | |||
Comprehensive Income attributable to SEACOR Holdings Inc. | ($55) |
Recovered_Sheet2
Nature Of Operations And Accounting Policies (Schedule Of Earnings Per Share) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||||
Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 11, 2012 | Nov. 13, 2013 | |
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items] | |||||||||||||
Net Income attributable to SEACOR Holdings Inc. | $40,093,000 | $27,463,000 | $21,067,000 | $11,509,000 | $8,396,000 | $30,291,000 | $19,271,000 | ($20,988,000) | $100,132,000 | $36,970,000 | $61,215,000 | ||
Dilutive Securities, Effect on Basic Earnings Per Share, Dilutive Convertible Securities | 21,156,000 | 0 | 0 | ||||||||||
Net Income (Loss) Available to Common Stockholders, Diluted | 121,288,000 | 36,970,000 | 61,215,000 | ||||||||||
Average o/s Shares, Basic | 19,336,280 | 19,893,954 | 20,426,770 | ||||||||||
Incremental Common Shares Attributable to Share-based Payment Arrangements | 403,194 | 399,333 | 349,126 | ||||||||||
Convertible Securities | 6,025,851 | 0 | 0 | ||||||||||
Average o/s Shares, Diluted | 25,765,325 | 20,293,287 | 20,775,896 | ||||||||||
Per Share, Basic | $2.22 | $1.43 | $1.05 | $0.57 | $0.42 | $1.52 | $0.97 | ($1.06) | $5.18 | $1.86 | $3 | ||
Dilutive Securities, Effect on Basic Earnings Per Share, Options and Restrictive Stock Units | $0 | $0 | $0 | ||||||||||
Per Share, Diluted | $1.85 | $1.28 | $0.98 | $0.56 | $0.41 | $1.36 | $0.91 | ($1.06) | $4.71 | $1.82 | $2.95 | ||
Two Point Five Percentage Convertible Notes [Member] | |||||||||||||
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items] | |||||||||||||
Convertible Securities | 4,200,525 | ||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 2.50% | 2.50% | 2.50% | ||||||||||
Three Point Zero Percentage Convertible Notes [Member] | |||||||||||||
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items] | |||||||||||||
Convertible Securities | 1,825,326 | ||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 3.00% | 3.00% | 3.00% | ||||||||||
Stock Compensation Plan [Member] | |||||||||||||
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items] | |||||||||||||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 407,698 | 133,315 | 549,223 | ||||||||||
Convertible Debt Securities [Member] | 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 | 176,609 | |||||||||||
Convertible Debt Securities [Member] | 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 | 240,043 |
Acquisitions_And_Dispositions_1
Acquisitions And Dispositions (Narrative) (Details) (USD $) | 12 Months Ended | ||||||||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Jul. 11, 2014 | Jun. 06, 2013 | Jun. 25, 2012 | Mar. 30, 2012 | Feb. 01, 2012 | Dec. 22, 2011 | |
Business Acquisition [Line Items] | |||||||||
Goodwill, Gross | $44,967,000 | $0 | ($1,586,000) | ||||||
Common Stock, Par or Stated Value Per Share | $0.01 | $0.01 | $0.01 | ||||||
Sales Price Of Equipment | 300,100,000 | 274,300,000 | 167,500,000 | ||||||
Proceeds from Sale of Property, Plant and Equipment, Excluding Deposits on Future Equipment Sales | 254,800,000 | 263,900,000 | 114,000,000 | ||||||
Proceeds from Issuance of Secured Debt | 45,300,000 | 10,400,000 | 48,500,000 | ||||||
Gain (Loss) on Disposition of Property Plant Equipment | 111,200,000 | 64,500,000 | 36,200,000 | ||||||
Deferred gains on asset sales | 71,400,000 | 26,900,000 | 23,200,000 | ||||||
Sale Leaseback Transaction, Net Proceeds, Investing Activities | 141,800,000 | 116,300,000 | 84,500,000 | ||||||
Sale Leaseback Transaction, Deferred Gain, Net | 52,000,000 | 26,400,000 | 15,700,000 | ||||||
Payments for (Proceeds from) Other Deposits | 5,000,000 | ||||||||
Offshore Support Vessels Anchor Handling Towing Supply [Member] | |||||||||
Business Acquisition [Line Items] | |||||||||
Sale Leaseback Transaction, Description of Asset(s) | 1 | 2 | |||||||
Offshore Support Vessels Fast Support [Member] | |||||||||
Business Acquisition [Line Items] | |||||||||
Sale Leaseback Transaction, Description of Asset(s) | 1 | ||||||||
Liftboats [Member] | |||||||||
Business Acquisition [Line Items] | |||||||||
Sale Leaseback Transaction, Description of Asset(s) | 1 | 1 | |||||||
U S Flag Tankers [Member] | |||||||||
Business Acquisition [Line Items] | |||||||||
Sale Leaseback Transaction, Description of Asset(s) | 1 | ||||||||
U.S.-flag Harbor Tugs [Member] | |||||||||
Business Acquisition [Line Items] | |||||||||
Sale Leaseback Transaction, Description of Asset(s) | 7 | 2 | |||||||
Inland River Liquid Tank Barges - 30,000 Barrel [Member] | |||||||||
Business Acquisition [Line Items] | |||||||||
Sale Leaseback Transaction, Description of Asset(s) | 8 | ||||||||
Minimum [Member] | |||||||||
Business Acquisition [Line Items] | |||||||||
Sale Leaseback Transaction, Lease Terms | 10 | 60 | 48 | ||||||
Maximum [Member] | |||||||||
Business Acquisition [Line Items] | |||||||||
Sale Leaseback Transaction, Lease Terms | 84 | 120 | 96 | ||||||
Witt O'Brien's LLC [Member] | |||||||||
Business Acquisition [Line Items] | |||||||||
Controlling interest obtained | 45.80% | ||||||||
Cash paid on acquisition | 35,400,000 | ||||||||
Goodwill, Gross | 45,000,000 | ||||||||
C-Lift LLC [Member] | |||||||||
Business Acquisition [Line Items] | |||||||||
Controlling interest obtained | 50.00% | ||||||||
Cash paid on acquisition | 13,300,000 | ||||||||
C-Lift LLC [Member] | Liftboats [Member] | |||||||||
Business Acquisition [Line Items] | |||||||||
Number Of Equipments Acquired | 2 | ||||||||
Pantagro Acquisition [Member] | |||||||||
Business Acquisition [Line Items] | |||||||||
Controlling interest obtained | 95.00% | ||||||||
Cash paid on acquisition | 200,000 | ||||||||
Business Combination, Consideration Transferred | 400,000 | ||||||||
Purchase consideration, note receivable | 200,000 | ||||||||
Superior Liftboats [Member] | |||||||||
Business Acquisition [Line Items] | |||||||||
Cash paid on acquisition | 142,500,000 | ||||||||
Superior Liftboats [Member] | Liftboats [Member] | |||||||||
Business Acquisition [Line Items] | |||||||||
Number Of Equipments Acquired | 18 | ||||||||
ICP Acquisition [Member] | |||||||||
Business Acquisition [Line Items] | |||||||||
Controlling interest obtained | 70.00% | ||||||||
Cash paid on acquisition | 9,100,000 | ||||||||
Windcat Acquisition [Member] | |||||||||
Business Acquisition [Line Items] | |||||||||
Controlling interest obtained | 75.00% | ||||||||
Business Acquisition, Cost of Acquired Entity, Equity Interests Issued and Issuable | 600,000 | ||||||||
Inland River Joint Venture [Member] | |||||||||
Business Acquisition [Line Items] | |||||||||
Proceeds from Issuance of Secured Debt | 45,300,000 | ||||||||
Deferred gains on asset sales | 19,400,000 | ||||||||
Inland River Joint Venture [Member] | Inland River Dry Cargo Barges [Member] | |||||||||
Business Acquisition [Line Items] | |||||||||
Property, Plant and Equipment, Dispositions | 20 | ||||||||
Inland River Joint Venture [Member] | Inland River Towboats [Member] | |||||||||
Business Acquisition [Line Items] | |||||||||
Property, Plant and Equipment, Dispositions | 1 | ||||||||
Offshore Marine Services Joint Ventures [Member] | |||||||||
Business Acquisition [Line Items] | |||||||||
Proceeds from Issuance of Secured Debt | 48,900,000 | ||||||||
Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property | 500,000 | ||||||||
Deferred gains on asset sales | 7,300,000 | ||||||||
Offshore Marine Services Joint Ventures [Member] | Offshore Support Vessels [Member] | |||||||||
Business Acquisition [Line Items] | |||||||||
Property, Plant and Equipment, Dispositions | 2 | ||||||||
Common Stock [Member] | Windcat Acquisition [Member] | |||||||||
Business Acquisition [Line Items] | |||||||||
Business Acquisition, Cost of Acquired Entity, Equity Interests Issued and Issuable | 6,374 | ||||||||
Gains on Asset Dispositions and Impariments, Net [Member] | |||||||||
Business Acquisition [Line Items] | |||||||||
Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property | 39,800,000 | 37,600,000 | 13,000,000 | ||||||
Amortization Of Deferred Gains Included In Gains On Asset Dispositions And Impairments, Net | $16,500,000 | $2,900,000 | $12,200,000 |
Acquisitions_And_Dispositions_2
Acquisitions And Dispositions (Allocation Of Purchase Price For Business Acquisitions) (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net [Abstract] | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Receivables | $31,079,000 | $3,250,000 | $17,356,000 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Other | 1,925,000 | 32,000 | 16,282,000 |
Business Acquisition, Purchase Price Allocation, Equity Method Investment | 519,000 | -13,290,000 | -42,358,000 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment | -49,968,000 | 43,521,000 | 178,025,000 |
Goodwill, Gross | 44,967,000 | 0 | -1,586,000 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 24,901,000 | 1,599,000 | 4,057,000 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets | 111,000 | 0 | -332,000 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Accounts Payable | 1,709,000 | 264,000 | 4,701,000 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Other | 12,274,000 | 1,053,000 | 4,093,000 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt | 3,266,000 | 22,668,000 | 946,000 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities Noncurrent | 91,000 | 0 | 0 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Other | 1,376,000 | 0 | 166,000 |
Business Acquisition, Purchase Price Allocation, Accumulated Other Comprehensive Income (Loss) | 0 | 0 | -9,000 |
Business Combination, Acquisition of Less than 100 Percent, Noncontrolling Interest, Fair Value | 0 | 0 | 13,459,000 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net | 35,000,000 | 11,127,000 | 148,088,000 |
Cash Acquired from Acquisition | $400,000 | $2,200,000 | $3,700,000 |
Acquisitions_And_Dispositions_3
Acquisitions And Dispositions (Major Equipment Deliveries) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Payments to Acquire Property, Plant, and Equipment | $360,637 | $195,901 | $239,350 |
Offshore Support Vessels Anchor Handling Towing Supply [Member] | |||
Number Of Equipments Delivered | 0 | 0 | 0 |
Offshore Support Vessels Fast Support [Member] | |||
Number Of Equipments Delivered | 3 | 0 | 0 |
Offshore Support Vessels Supply [Member] | |||
Number Of Equipments Delivered | 2 | 0 | 0 |
Offshore Support Vessels Specialty [Member] | |||
Number Of Equipments Delivered | 0 | 0 | 0 |
Wind Farm Utility Vessel [Member] | |||
Number Of Equipments Delivered | 2 | 5 | 1 |
Offshore Support Vessels [Member] | |||
Number Of Equipments Delivered | 0 | 0 | 0 |
Inland River Dry Cargo Barges [Member] | |||
Number Of Equipments Delivered | 65 | 0 | 3 |
Inland River Liquid Tank Barges - 10,000 Barrel [Member] | |||
Number Of Equipments Delivered | 0 | 2 | 1 |
Inland River Liquid Tank Barges - 30,000 Barrel [Member] | |||
Number Of Equipments Delivered | 0 | 0 | 4 |
Inland River Towboats [Member] | |||
Number Of Equipments Delivered | 1 | 1 | 2 |
Short-sea Container\RORO Vessels [Member] | |||
Number Of Equipments Delivered | 1 | 1 | 0 |
U.S.-flag Harbor Tugs [Member] | |||
Number Of Equipments Delivered | 0 | 4 | 0 |
C-Lift LLC [Member] | Liftboats [Member] | |||
Number Of Equipments Delivered | 2 | ||
Superior Energy Services Llc [Member] | Liftboats [Member] | |||
Number Of Equipments Delivered | 18 |
Acquisitions_And_Dispositions_4
Acquisitions And Dispositions (Major Equipment Dispositions) (Details) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
equipment | equipment | equipment | |
Offshore Support Vessels Anchor Handling Towing Supply [Member] | |||
Number of equipments removed from service | 1 | 0 | 2 |
Offshore Support Vessels Fast Support [Member] | |||
Number of equipments removed from service | 7 | 5 | 2 |
Offshore Support Vessels Mini-Supply [Member] | |||
Number of equipments removed from service | 0 | 1 | 0 |
Offshore Support Vessels Standby Safety [Member] | |||
Number of equipments removed from service | 0 | 0 | 1 |
Offshore Support Vessels Supply [Member] | |||
Number of equipments removed from service | 4 | 2 | 2 |
Offshore Support Vessels Specialty [Member] | |||
Number of equipments removed from service | 0 | 3 | 0 |
Liftboats [Member] | |||
Number of equipments removed from service | 1 | 6 | 0 |
Wind Farm Utility Vessel [Member] | |||
Number of equipments removed from service | 1 | 2 | 0 |
Offshore Support Vessels [Member] | |||
Number of equipments removed from service | 14 | 19 | 7 |
Inland River Dry Cargo Barges [Member] | |||
Number of equipments removed from service | 80 | 16 | 9 |
Inland River Liquid Tank Barges - 10,000 Barrel [Member] | |||
Number of equipments removed from service | 0 | 0 | 1 |
Inland River Liquid Tank Barges - 30,000 Barrel [Member] | |||
Number of equipments removed from service | 0 | 8 | 0 |
Inland River Towboats [Member] | |||
Number of equipments removed from service | 5 | 0 | 2 |
U.S.-flag Product Tankers [Member] | |||
Number of equipments removed from service | 1 | 0 | 0 |
Short-sea Container\RORO Vessels [Member] | |||
Number of equipments removed from service | 2 | 0 | 1 |
U.S.-flag Harbor Tugs [Member] | |||
Number of equipments removed from service | 0 | 7 | 3 |
Foreign-flag Harbor Tugs [Member] | |||
Number of equipments removed from service | 0 | 1 | 2 |
SeaJon [Member] | U.S. Flag Articulated Tug-Barge [Member] | |||
Number of equipments removed from service | 1 |
Investments_At_Equity_And_Adva2
Investments, At Equity, And Advances To 50% Or Less Owned Companies (Narrative) (Details) (USD $) | 12 Months Ended | 3 Months Ended | 9 Months Ended | ||||||||||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Sep. 30, 2013 | Sep. 30, 2014 | Nov. 18, 2013 | Jul. 25, 2013 | Apr. 02, 2012 | Jul. 11, 2014 | Feb. 01, 2012 | Nov. 20, 2009 | Mar. 31, 2015 | |
Schedule of Equity Method Investments [Line Items] | |||||||||||||
Current Fiscal Year End Date | -19 | ||||||||||||
Cumulative undistributed net earnings of 50% or less owned companies accounted for by the equity method included in the Company's consolidated retained earnings | $29,400,000 | $23,900,000 | |||||||||||
Proceeds from Issuance of Secured Debt | 45,300,000 | 10,400,000 | 48,500,000 | ||||||||||
Equity Method Investments | 484,157,000 | 440,853,000 | 440,853,000 | ||||||||||
Outstanding borrowings under term loan | 834,383,000 | 834,118,000 | 834,118,000 | ||||||||||
Marketable security gains (losses), net | 28,760,000 | 5,803,000 | 12,891,000 | ||||||||||
Letters of Credit Outstanding, Amount | 40,400,000 | ||||||||||||
MexMar [Member] | |||||||||||||
Schedule of Equity Method Investments [Line Items] | |||||||||||||
Partners' Capital Account, Contributions | 2,900,000 | 5,900,000 | |||||||||||
Property, Plant and Equipment, Additions | 32,000,000 | 36,400,000 | 50,000,000 | ||||||||||
Payments to Acquire Machinery and Equipment | 6,400,000 | 30,400,000 | 5,000,000 | ||||||||||
Proceeds from Issuance of Secured Debt | 25,600,000 | 6,000,000 | 45,000,000 | ||||||||||
Repayments of Secured Debt | 10,700,000 | ||||||||||||
Related Party Transaction, Revenues from Transactions with Related Party | 300,000 | 300,000 | 300,000 | ||||||||||
Equity Method Investment, Ownership Percentage | 49.00% | ||||||||||||
Equity Method Investments | 51,262,000 | 28,564,000 | 28,564,000 | ||||||||||
Sea-Cat Crewzer II [Member] | |||||||||||||
Schedule of Equity Method Investments [Line Items] | |||||||||||||
Partners' Capital Account, Contributions | 23,900,000 | ||||||||||||
Property, Plant and Equipment, Additions | 47,300,000 | ||||||||||||
Payments to Acquire Machinery and Equipment | 44,500,000 | ||||||||||||
Proceeds from Issuance of Secured Debt | 2,800,000 | ||||||||||||
Related Party Transaction, Revenues from Transactions with Related Party | 700,000 | 200,000 | |||||||||||
Guarantor Obligations, Maximum Exposure, Undiscounted | 14,100,000 | ||||||||||||
Partners' Capital Account, Return of Capital | 14,000,000 | ||||||||||||
Equity Method Investment, Ownership Percentage | 50.00% | ||||||||||||
Equity Method Investments | 9,983,000 | 22,900,000 | 22,900,000 | ||||||||||
OSV Partners [Member] | |||||||||||||
Schedule of Equity Method Investments [Line Items] | |||||||||||||
Partners' Capital Account, Contributions | 5,100,000 | 4,100,000 | |||||||||||
Related Party Transaction, Revenues from Transactions with Related Party | 1,200,000 | 200,000 | |||||||||||
Repayments of Advances | 7,600,000 | ||||||||||||
Equity Method Investment, Ownership Percentage | 30.40% | ||||||||||||
Equity Method Investments | 9,838,000 | 3,951,000 | 3,951,000 | ||||||||||
Nautical Power [Member] | |||||||||||||
Schedule of Equity Method Investments [Line Items] | |||||||||||||
Proceeds from Equity Method Investment, Dividends or Distributions, Return of Capital | 5,300,000 | ||||||||||||
Equity Method Investment, Ownership Percentage | 50.00% | ||||||||||||
Equity Method Investments | 6,411,000 | 6,399,000 | 6,399,000 | ||||||||||
Sea Cat Crewzer [Member] | |||||||||||||
Schedule of Equity Method Investments [Line Items] | |||||||||||||
Related Party Transaction, Revenues from Transactions with Related Party | 700,000 | 800,000 | 800,000 | ||||||||||
Guarantor Obligations, Maximum Exposure, Undiscounted | 12,500,000 | ||||||||||||
Partners' Capital Account, Return of Capital | 3,200,000 | ||||||||||||
Proceeds from Equity Method Investment, Dividends or Distributions, Return of Capital | 3,300,000 | 1,300,000 | |||||||||||
Related party transaction expense | 4,700,000 | 4,800,000 | 2,200,000 | ||||||||||
Equity Method Investment, Ownership Percentage | 50.00% | ||||||||||||
Equity Method Investments | 3,062,000 | 7,833,000 | 7,833,000 | ||||||||||
Other Offshore Marine Services Joint Ventures [Member] | |||||||||||||
Schedule of Equity Method Investments [Line Items] | |||||||||||||
Number of Equipment Operated | 10 | ||||||||||||
Partners' Capital Account, Contributions | 4,100,000 | 2,100,000 | |||||||||||
Related Party Transaction, Revenues from Transactions with Related Party | 600,000 | 600,000 | 600,000 | ||||||||||
Guarantor Obligations, Maximum Exposure, Undiscounted | 71,600,000 | ||||||||||||
Partners' Capital Account, Return of Capital | 200,000 | ||||||||||||
Repayments of Advances | 600,000 | ||||||||||||
Proceeds from Equity Method Investment, Dividends or Distributions, Return of Capital | 1,000,000 | 900,000 | |||||||||||
Allocable share of uncalled capital | 2,100,000 | ||||||||||||
Guarantee of outstanding charter receivables | 600,000 | ||||||||||||
Equity Method Investments | 22,065,000 | 17,891,000 | 17,891,000 | ||||||||||
SCFCo Holdings [Member] | |||||||||||||
Schedule of Equity Method Investments [Line Items] | |||||||||||||
Partners' Capital Account, Contributions | 19,700,000 | 6,100,000 | 3,000,000 | ||||||||||
Payments for Advance to Affiliate | 23,500,000 | 3,100,000 | |||||||||||
Repayments of Advances | -1,000,000 | -1,800,000 | |||||||||||
Advanced to joint ventures | 29,500,000 | ||||||||||||
Equity Method Investment, Ownership Percentage | 50.00% | ||||||||||||
Equity Method Investments | 75,799,000 | 27,710,000 | 27,710,000 | ||||||||||
Bunge-SCF Grain [Member] | |||||||||||||
Schedule of Equity Method Investments [Line Items] | |||||||||||||
Partners' Capital Account, Contributions | 2,000,000 | ||||||||||||
Related Party Transaction, Revenues from Transactions with Related Party | 1,600,000 | 1,000,000 | 1,000,000 | ||||||||||
Payments for Advance to Affiliate | 2,500,000 | 5,000,000 | |||||||||||
Repayments of Advances | -500,000 | ||||||||||||
Advanced to joint ventures | 7,000,000 | ||||||||||||
Equity Method Investment, Ownership Percentage | 50.00% | ||||||||||||
Equity Method Investments | 19,360,000 | 17,697,000 | 17,697,000 | ||||||||||
SCF Bunge Marine [Member] | |||||||||||||
Schedule of Equity Method Investments [Line Items] | |||||||||||||
Related Party Transaction, Revenues from Transactions with Related Party | 41,600,000 | 40,800,000 | 40,900,000 | ||||||||||
Proceeds from Equity Method Investment, Dividends or Distributions, Return of Capital | 4,500,000 | ||||||||||||
Related party transaction expense | 46,600,000 | 41,100,000 | 42,600,000 | ||||||||||
Equity Method Investment, Ownership Percentage | 50.00% | ||||||||||||
Equity Method Investments | 6,139,000 | 6,158,000 | 6,158,000 | ||||||||||
Other Inland River Joint Ventures [Member] | |||||||||||||
Schedule of Equity Method Investments [Line Items] | |||||||||||||
Partners' Capital Account, Return of Capital | 2,100,000 | 400,000 | |||||||||||
Equity Method Investment, Ownership Percentage | 50.00% | ||||||||||||
Equity Method Investments | 2,390,000 | 3,846,000 | 3,846,000 | ||||||||||
Dorian LPG [Member] | |||||||||||||
Schedule of Equity Method Investments [Line Items] | |||||||||||||
Number of Equipment Operated | 5 | ||||||||||||
Partners' Capital Account, Contributions | 70,400,000 | 57,000,000 | |||||||||||
Equity Method Investment, Ownership Percentage | 16.10% | 21.80% | 25.00% | ||||||||||
Partners' Capital Account, Contributions, Cash | 42,100,000 | ||||||||||||
Partners' Capital Account, Contributions, Noncash | 14,900,000 | ||||||||||||
Business Combination, Separately Recognized Transactions, Net Gains and Losses | 4,400,000 | 1,100,000 | |||||||||||
Equity Method Investment, Quoted Market Value | 129,600,000 | ||||||||||||
Number of Equipment Under Construction | 17 | ||||||||||||
Equity Method Investments | 139,006,000 | 129,785,000 | 129,785,000 | ||||||||||
Trailer Bridge Inc [Member] | |||||||||||||
Schedule of Equity Method Investments [Line Items] | |||||||||||||
Related Party Transaction, Revenues from Transactions with Related Party | -2,000,000 | ||||||||||||
Repayments of Advances | 2,100,000 | 2,100,000 | 1,100,000 | ||||||||||
Equity Method Investment, Ownership Percentage | 47.30% | 47.30% | 47.26% | ||||||||||
Debt instrument, stated percentage | 9.25% | ||||||||||||
Secured Debt | 33,100,000 | ||||||||||||
Equity Method Investments | 53,447,000 | 57,881,000 | 57,881,000 | 9,900,000 | |||||||||
Equity Method Investments, Inclusive of Secured Debt | 48,100,000 | ||||||||||||
Investment Owned, at Fair Value | 43,000,000 | ||||||||||||
Bridge Loan | 20,800,000 | ||||||||||||
Marketable security gains (losses), net | 9,800,000 | ||||||||||||
Sea-Access [Member] | |||||||||||||
Schedule of Equity Method Investments [Line Items] | |||||||||||||
Partners' Capital Account, Contributions | 16,700,000 | ||||||||||||
Related Party Transaction, Revenues from Transactions with Related Party | -100,000 | ||||||||||||
Equity Method Investment, Ownership Percentage | 50.00% | 50.00% | |||||||||||
Equity Method Investments | 16,551,000 | 0 | 0 | ||||||||||
SeaJon [Member] | |||||||||||||
Schedule of Equity Method Investments [Line Items] | |||||||||||||
Partners' Capital Account, Contributions | 1,400,000 | 2,300,000 | |||||||||||
Guarantor Obligations, Maximum Exposure, Undiscounted | 5,000,000 | ||||||||||||
Equity Method Investment, Ownership Percentage | 50.00% | ||||||||||||
Equity Method Investments | 7,475,000 | 9,479,000 | 9,479,000 | ||||||||||
Outstanding borrowings under term loan | 40,000,000 | ||||||||||||
Partners' Capital Account, Distributions | 5,400,000 | 20,000,000 | |||||||||||
Debt Instrument, Final Baloon Payment | 29,700,000 | ||||||||||||
SeaJon II [Member] | |||||||||||||
Schedule of Equity Method Investments [Line Items] | |||||||||||||
Partners' Capital Account, Contributions | 600,000 | ||||||||||||
Equity Method Investment, Ownership Percentage | 50.00% | ||||||||||||
Partners' Capital Account, Contributions, Noncash | 5,400,000 | ||||||||||||
Equity Method Investments | 5,941,000 | 0 | 0 | ||||||||||
Witt O'Brien's LLC [Member] | |||||||||||||
Schedule of Equity Method Investments [Line Items] | |||||||||||||
Related Party Transaction, Revenues from Transactions with Related Party | 100,000 | 300,000 | |||||||||||
Partners' Capital Account, Return of Capital | 400,000 | ||||||||||||
Proceeds from Equity Method Investment, Dividends or Distributions, Return of Capital | 400,000 | 2,000,000 | |||||||||||
Equity Method Investment, Ownership Percentage | 54.20% | 54.20% | |||||||||||
Business Combination, Separately Recognized Transactions, Net Gains and Losses | 9,700,000 | ||||||||||||
Equity Method Investments | 0 | 52,289,000 | 52,289,000 | ||||||||||
Business Acquisition, Percentage of Voting Interests Acquired | 45.80% | ||||||||||||
Cash paid on acquisition | 35,400,000 | ||||||||||||
Hawker Pacific Airservices Limited [Member] | |||||||||||||
Schedule of Equity Method Investments [Line Items] | |||||||||||||
Related Party Transaction, Revenues from Transactions with Related Party | 500,000 | ||||||||||||
Advanced to joint ventures | 3,300,000 | ||||||||||||
Equity Method Investment, Ownership Percentage | 34.20% | ||||||||||||
Debt instrument, stated percentage | 10.00% | ||||||||||||
Equity Method Investments | 21,114,000 | 21,596,000 | 21,596,000 | ||||||||||
Letters of Credit Outstanding, Amount | 23,200,000 | ||||||||||||
Avion Pacific Limited [Member] | |||||||||||||
Schedule of Equity Method Investments [Line Items] | |||||||||||||
Repayments of Advances | 4,000,000 | 1,000,000 | 15,700,000 | ||||||||||
Advanced to joint ventures | 3,000,000 | 11,000,000 | |||||||||||
Equity Method Investment, Ownership Percentage | 39.10% | ||||||||||||
Equity Method Investments | 14,107,000 | 13,127,000 | 13,127,000 | ||||||||||
Notes Receivable, Related Parties | 3,000,000 | 4,000,000 | 4,000,000 | ||||||||||
Illinois Corn Processing Llc [Member] | |||||||||||||
Schedule of Equity Method Investments [Line Items] | |||||||||||||
Partners' Capital Account, Contributions | 500,000 | ||||||||||||
Business Combination, Separately Recognized Transactions, Net Gains and Losses | 6,000,000 | ||||||||||||
Business Acquisition, Percentage of Voting Interests Acquired | 70.00% | ||||||||||||
Cash paid on acquisition | 9,100,000 | ||||||||||||
Revolving line of credit | 20,000,000 | ||||||||||||
Advances made under revolving line of credit | 300,000 | ||||||||||||
Cleancor [Member] | |||||||||||||
Schedule of Equity Method Investments [Line Items] | |||||||||||||
Partners' Capital Account, Contributions | 4,800,000 | ||||||||||||
Equity Method Investment, Ownership Percentage | 50.00% | ||||||||||||
Equity Method Investments | 4,201,000 | 83,000 | 83,000 | ||||||||||
Other Corporate Joint Ventures [Member] | |||||||||||||
Schedule of Equity Method Investments [Line Items] | |||||||||||||
Partners' Capital Account, Contributions | 700,000 | 1,700,000 | |||||||||||
Proceeds from Equity Method Investment, Dividends or Distributions, Return of Capital | 100,000 | 1,200,000 | |||||||||||
Equity Method Investments | 3,191,000 | 2,042,000 | 2,042,000 | ||||||||||
Offshore Support Vessels [Member] | |||||||||||||
Schedule of Equity Method Investments [Line Items] | |||||||||||||
Number Of Equipments Delivered | 0 | 0 | 0 | ||||||||||
Unrecorded Unconditional Purchase Obligation, Maximum Quantity | 18 | ||||||||||||
Offshore Support Vessels [Member] | MexMar [Member] | |||||||||||||
Schedule of Equity Method Investments [Line Items] | |||||||||||||
Number of Equipment Operated | 0 | ||||||||||||
Number Of Equipments Delivered | 2 | 1 | 2 | ||||||||||
Offshore Support Vessels [Member] | Sea-Cat Crewzer II [Member] | |||||||||||||
Schedule of Equity Method Investments [Line Items] | |||||||||||||
Number of Equipment Operated | 2 | ||||||||||||
Number Of Equipments Delivered | 2 | ||||||||||||
Offshore Support Vessels [Member] | OSV Partners [Member] | |||||||||||||
Schedule of Equity Method Investments [Line Items] | |||||||||||||
Number of Equipment Operated | 6 | ||||||||||||
Number Of Equipments Delivered | 2 | ||||||||||||
Payments to Acquire Machinery and Equipment | 27,700,000 | 14,500,000 | |||||||||||
Offshore Support Vessels [Member] | Sea Cat Crewzer [Member] | |||||||||||||
Schedule of Equity Method Investments [Line Items] | |||||||||||||
Number of Equipment Operated | 2 | ||||||||||||
Offshore Support Vessels [Member] | Other Offshore Marine Services Joint Ventures [Member] | |||||||||||||
Schedule of Equity Method Investments [Line Items] | |||||||||||||
Number Of Equipments Delivered | 2 | ||||||||||||
Payments to Acquire Machinery and Equipment | 5,400,000 | ||||||||||||
Very Large Gas Carrier [Member] | Dorian LPG [Member] | |||||||||||||
Schedule of Equity Method Investments [Line Items] | |||||||||||||
Unrecorded Unconditional Purchase Obligation, Maximum Quantity | 2 | ||||||||||||
Title XI Bonds [Member] | |||||||||||||
Schedule of Equity Method Investments [Line Items] | |||||||||||||
Debt instrument, stated percentage | 6.50% | 6.50% | |||||||||||
Outstanding borrowings under term loan | 79,338,000 | 85,217,000 | 85,217,000 | ||||||||||
Title XI Bonds [Member] | Trailer Bridge Inc [Member] | |||||||||||||
Schedule of Equity Method Investments [Line Items] | |||||||||||||
Outstanding borrowings under term loan | 5,100,000 | ||||||||||||
Subsequent Event [Member] | Hawker Pacific Airservices Limited [Member] | |||||||||||||
Schedule of Equity Method Investments [Line Items] | |||||||||||||
Letters of Credit Outstanding, Amount | $8,700,000 |
Investments_At_Equity_And_Adva3
Investments, At Equity, And Advances To 50% Or Less Owned Companies (Investments, At Equity, And Advances To 50% Or Less Owned Companies) (Details) (USD $) | 12 Months Ended | |||||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Nov. 18, 2013 | Jul. 25, 2013 | Apr. 02, 2012 | Dec. 31, 2012 |
Schedule of Equity Method Investments [Line Items] | ||||||
Current Fiscal Year End Date | -19 | |||||
Equity Method Investments | $484,157 | $440,853 | ||||
MexMar [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Ownership of equity interest | 49.00% | |||||
Equity Method Investments | 51,262 | 28,564 | ||||
Dynamic Offshore Drilling Ltd. [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Ownership of equity interest | 19.00% | |||||
Equity Method Investments | 12,815 | 11,622 | ||||
Sea-Cat Crewzer II [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Ownership of equity interest | 50.00% | |||||
Equity Method Investments | 9,983 | 22,900 | ||||
OSV Partners [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Ownership of equity interest | 30.40% | |||||
Equity Method Investments | 9,838 | 3,951 | ||||
Nautical Power [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Ownership of equity interest | 50.00% | |||||
Equity Method Investments | 6,411 | 6,399 | ||||
Sea Cat Crewzer [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Ownership of equity interest | 50.00% | |||||
Equity Method Investments | 3,062 | 7,833 | ||||
Other Offshore Marine Services Joint Ventures [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Equity Method Investments | 22,065 | 17,891 | ||||
Other Offshore Marine Services Joint Ventures [Member] | Minimum [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Ownership of equity interest | 20.00% | |||||
Other Offshore Marine Services Joint Ventures [Member] | Maximum [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Ownership of equity interest | 50.00% | |||||
Offshore Marine Services Joint Ventures [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Equity Method Investments | 115,436 | 99,160 | ||||
SCFCo Holdings [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Ownership of equity interest | 50.00% | |||||
Equity Method Investments | 75,799 | 27,710 | ||||
Bunge-SCF Grain [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Ownership of equity interest | 50.00% | |||||
Equity Method Investments | 19,360 | 17,697 | ||||
SCF Bunge Marine [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Ownership of equity interest | 50.00% | |||||
Equity Method Investments | 6,139 | 6,158 | ||||
Other Inland River Joint Ventures [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Ownership of equity interest | 50.00% | |||||
Equity Method Investments | 2,390 | 3,846 | ||||
Inland River Joint Venture [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Equity Method Investments | 103,688 | 55,411 | ||||
Dorian LPG [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Ownership of equity interest | 16.10% | 21.80% | 25.00% | |||
Equity Method Investments | 139,006 | 129,785 | ||||
Trailer Bridge Inc [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Ownership of equity interest | 47.30% | 47.26% | ||||
Equity Method Investments | 53,447 | 57,881 | 9,900 | |||
Sea-Access [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Ownership of equity interest | 50.00% | |||||
Equity Method Investments | 16,551 | 0 | ||||
SeaJon [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Ownership of equity interest | 50.00% | |||||
Equity Method Investments | 7,475 | 9,479 | ||||
SeaJon II [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Ownership of equity interest | 50.00% | |||||
Equity Method Investments | 5,941 | 0 | ||||
Shipping Services Joint Ventures [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Equity Method Investments | 222,420 | 197,145 | ||||
Witt O'Brien's LLC [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Ownership of equity interest | 54.20% | 54.20% | ||||
Equity Method Investments | 0 | 52,289 | ||||
Hawker Pacific Airservices Limited [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Ownership of equity interest | 34.20% | |||||
Equity Method Investments | 21,114 | 21,596 | ||||
Avion Pacific Limited [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Ownership of equity interest | 39.10% | |||||
Equity Method Investments | 14,107 | 13,127 | ||||
Cleancor [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Ownership of equity interest | 50.00% | |||||
Equity Method Investments | 4,201 | 83 | ||||
Other Corporate Joint Ventures [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Equity Method Investments | 3,191 | 2,042 | ||||
Other Corporate Joint Ventures [Member] | Minimum [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Ownership of equity interest | 34.00% | |||||
Other Corporate Joint Ventures [Member] | Maximum [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Ownership of equity interest | 50.00% | |||||
Corporate Joint Venture [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Equity Method Investments | $42,613 | $89,137 |
Investments_At_Equity_And_Adva4
Investments, At Equity, And Advances To 50% Or Less Owned Companies (Summarized Financial Information For The Company's Investments, At Equity) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Equity Method Investment, Summarized Financial Information [Abstract] | |||
Current Fiscal Year End Date | -19 | ||
Current assets | $713,220 | $749,369 | |
Noncurrent assets | 1,838,102 | 1,387,601 | |
Current liabilities | 467,124 | 345,260 | |
Noncurrent liabilities | 702,306 | 682,348 | |
Operating Revenues | 1,253,988 | 1,087,637 | 774,912 |
Costs and Expenses: Operating and administrative | 1,067,964 | 955,583 | 699,061 |
Costs and Expenses: Depreciation | 73,164 | 61,813 | 40,440 |
Total costs and expenses | 1,141,128 | 1,017,396 | 739,501 |
Gain (Loss) on Asset Dispositions | 368 | -397 | 0 |
Operating Income | 113,228 | 69,844 | 35,411 |
Net Income (Loss) | $43,875 | $17,312 | $4,640 |
Third_Party_Notes_Receivable_D
Third Party Notes Receivable (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Third Party Notes Receivable [Abstract] | |||
Loans and Leases Receivable, Gross | $23.60 | $14.50 | |
Notes receivable third party | -19 | -20.5 | -4.1 |
Proceeds from Collection of Notes Receivable | 10 | 33.3 | 36.8 |
Proceeds from Collection of Lease Receivables | $0.60 | $3.60 | $3.40 |
Construction_Reserve_Funds_Det
Construction Reserve Funds (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Construction Reserve Funds [Abstract] | |||
Penalty tax rate | 1.10% | ||
Construction reserve fund | $268,400,000 | $252,100,000 | |
Withdrawals | 131,167,000 | 65,493,000 | 122,695,000 |
Deposits | 147,450,000 | 131,603,000 | 58,350,000 |
Construction reserve fund benefit | $16,283,000 | $66,110,000 | ($64,345,000) |
LongTerm_Debt_Narrative_Senior
Long-Term Debt (Narrative) (Senior Notes And Convertible Debentures) (Details) (USD $) | 12 Months Ended | 0 Months Ended | 3 Months Ended | 12 Months Ended | ||||||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Mar. 31, 2014 | Dec. 31, 2011 | Nov. 13, 2013 | Dec. 11, 2012 | Sep. 24, 2009 | Oct. 01, 2002 | |
Debt Instrument [Line Items] | ||||||||||
Special Cash Dividend Declared and Paid Per Common Share of SEACOR Holdings Inc. | $0 | $0 | $5 | |||||||
Convertible Securities | 6,025,851 | 0 | 0 | |||||||
Debt extinguishment losses, net | $0 | $0 | ($160,000) | |||||||
Net property and equipment | 1,502,673,000 | 1,476,335,000 | 1,584,876,000 | 1,584,876,000 | ||||||
Letters of credit outstanding amount | 40,400,000 | |||||||||
Seacor Revolving Credit Facility [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Repayments of Lines of Credit | 175,000,000 | |||||||||
Three Point Zero Percentage Convertible Notes [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Debt instrument, stated percentage | 3.00% | 3.00% | ||||||||
Aggregate principal amount | 230,000,000 | |||||||||
Bond Trading Price Triggering Contingent Interest, Minimum | 1,200 | |||||||||
Individual Bond, Face Value | 1,000 | |||||||||
Contingent Interest Rate | 0.45% | |||||||||
Debt Instrument, Convertible, Conversion Ratio | 7.9362 | |||||||||
Convertible Securities | 1,825,326 | |||||||||
Bond Redemption Percentage | 100.00% | |||||||||
Payments of Debt Issuance Costs | 6,300,000 | |||||||||
Proceeds from issuance of long-term debt, net of offering costs | 223,700,000 | |||||||||
Convertible Debt | 230,000,000 | 230,000,000 | 181,500,000 | |||||||
Deferred Finance Costs, Gross | 5,000,000 | |||||||||
Debt Instrument, Interest Rate, Effective Percentage | 7.40% | |||||||||
Three Point Zero Percentage Convertible Notes [Member] | Additional Paid-In Capital [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Deferred Finance Costs, Gross | 1,300,000 | |||||||||
Debt Instrument, Convertible, Carrying Amount of Equity Component | 48,500,000 | |||||||||
Two Point Five Percentage Convertible Notes [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Debt instrument, stated percentage | 2.50% | 2.50% | ||||||||
Aggregate principal amount | 350,000,000 | |||||||||
Bond Trading Price Triggering Contingent Interest, Minimum | 1,200 | |||||||||
Individual Bond, Face Value | 1,000 | |||||||||
Contingent Interest Rate | 0.25% | |||||||||
Debt Instrument, Convertible, Conversion Ratio | 9.2089 | |||||||||
Special Cash Dividend Declared and Paid Per Common Share of SEACOR Holdings Inc. | $5 | |||||||||
Convertible Securities | 4,200,525 | |||||||||
Bond Redemption Percentage | 100.00% | |||||||||
Payments of Debt Issuance Costs | 9,400,000 | |||||||||
Proceeds from issuance of long-term debt, net of offering costs | 340,600,000 | |||||||||
Convertible Debt | 350,000,000 | 350,000,000 | 300,400,000 | |||||||
Deferred Finance Costs, Gross | 8,100,000 | |||||||||
Debt Instrument, Interest Rate, Effective Percentage | 6.50% | 6.50% | ||||||||
Redemption Premium | 55 | |||||||||
Common Stock Sales Price Premium Over Conversion Price, Minimum | 130.00% | |||||||||
Two Point Five Percentage Convertible Notes [Member] | Additional Paid-In Capital [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Deferred Finance Costs, Gross | 1,300,000 | |||||||||
Debt Instrument, Convertible, Carrying Amount of Equity Component | 49,600,000 | |||||||||
7.375% Senior Notes [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Debt instrument, stated percentage | 7.38% | |||||||||
Aggregate principal amount | 250,000,000 | |||||||||
5.875% Senior Notes [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Debt instrument, stated percentage | 5.88% | |||||||||
Aggregate principal amount | 200,000,000 | |||||||||
Aggregate purchase price of senior notes | 5,700,000 | |||||||||
Debt extinguishment losses, net | 200,000 | |||||||||
Repayments of Long-term Debt | 171,000,000 | |||||||||
Extinguishment of Debt, Amount | 5,500,000 | |||||||||
Title XI Bonds [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Debt instrument, stated percentage | 6.50% | |||||||||
Net Assets | 57,500,000 | |||||||||
Net property and equipment | 108,000,000 | |||||||||
Bond Reserve Fund Balance | 9,600,000 | |||||||||
Restricted Cash and Cash Equivalents | 16,100,000 | 12,200,000 | 12,200,000 | |||||||
Other Debt Obligations [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Proceeds from issuance of long-term debt, net of offering costs | 26,900,000 | 1,500,000 | 6,700,000 | |||||||
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Minimum | 1.10% | |||||||||
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Maximum | 4.80% | |||||||||
Repayments of Other Debt | $33,800,000 | $9,700,000 | $24,500,000 |
LongTerm_Debt_Schedule_Of_Comp
Long-Term Debt (Schedule Of Company's Borrowings) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | Nov. 13, 2013 | Dec. 11, 2012 |
Debt Instrument [Line Items] | ||||
Long-term Debt | $834,383,000 | $834,118,000 | ||
Long-term Debt, Gross | 966,471,000 | 979,280,000 | ||
Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months | -48,499,000 | -45,323,000 | ||
Debt Instrument, Unamortized Discount | -83,589,000 | -99,839,000 | ||
7.375% Senior Notes [Member] | ||||
Debt Instrument [Line Items] | ||||
Senior Notes, Noncurrent | 233,500,000 | 233,500,000 | ||
Debt Instrument, Unamortized Discount | -891,524 | |||
Three Point Zero Percentage Convertible Notes [Member] | ||||
Debt Instrument [Line Items] | ||||
Convertible Debt | 230,000,000 | 230,000,000 | 181,500,000 | |
Debt Instrument, Unamortized Discount | -42,205,509 | |||
Two Point Five Percentage Convertible Notes [Member] | ||||
Debt Instrument [Line Items] | ||||
Convertible Debt | 350,000,000 | 350,000,000 | 300,400,000 | |
Debt Instrument, Unamortized Discount | -31,188,284 | |||
Title XI Bonds [Member] | ||||
Debt Instrument [Line Items] | ||||
Long-term Debt | 79,338,000 | 85,217,000 | ||
Debt Instrument, Unamortized Discount | -8,656,640 | |||
Other Debt Obligations [Member] | ||||
Debt Instrument [Line Items] | ||||
Long-term Debt | 73,633,000 | 80,563,000 | ||
Debt Instrument, Unamortized Discount | ($647,163) |
LongTerm_Debt_Schedule_Of_Long
Long-Term Debt (Schedule Of Long-Term Debt Maturities) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Long-term Debt, Unclassified [Abstract] | ||
2015 | $48,499 | $45,323 |
2016 | 14,198 | |
2017 | 14,605 | |
2018 | 14,906 | |
2019 | 245,545 | |
Years subsequent to 2019 | 628,718 | |
Long-term Debt, Gross | $966,471 | $979,280 |
Income_Taxes_Narrative_Details
Income Taxes (Narrative) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Tax Credit Carryforward [Line Items] | |||
Cumulative undistributed net earnings of foreign subsidiaries included in retained earnings | $122.20 | ||
Valuation Allowance, Deferred Tax Asset, Change in Amount | 3.1 | ||
Adjustment to additional paid in capital, income tax effect from share-based compensation, net | 1.1 | 1.4 | 2 |
Liability for Uncertain Tax Positions, Noncurrent | 10.5 | 10.1 | |
State and Local Jurisdiction [Member] | |||
Tax Credit Carryforward [Line Items] | |||
State net operating loss carryforwards, valuation allowance | $4.90 | $6.80 |
Income_Taxes_Schedule_Of_Incom
Income Taxes (Schedule Of Income Before Income Tax Expense (Benefit) And Equity In Earnings Of 50% Or Less Owned Companies) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Income Tax Contingency [Line Items] | |||
Income Before Income Tax Expense (Benefit) and Equity in Earnings of 50% or Less Owned Companies | $163,235 | $67,632 | $54,572 |
United States [Member] | |||
Income Tax Contingency [Line Items] | |||
Income Before Income Tax Expense (Benefit) and Equity in Earnings of 50% or Less Owned Companies | 160,782 | 71,669 | 82,383 |
Foreign [Member] | |||
Income Tax Contingency [Line Items] | |||
Income Before Income Tax Expense (Benefit) and Equity in Earnings of 50% or Less Owned Companies | -5,409 | -7,596 | -176 |
Eliminations And Other [Member] | |||
Income Tax Contingency [Line Items] | |||
Income Before Income Tax Expense (Benefit) and Equity in Earnings of 50% or Less Owned Companies | $7,862 | $3,559 | ($27,635) |
Income_Taxes_Components_Of_Inc
Income Taxes (Components Of Income Tax Expense (Benefit)) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Components of Income Tax Expense (Benefit), Continuing Operations [Abstract] | |||
State | $5,526 | $1,723 | $3,604 |
Federal | 56,675 | 6,311 | 36,057 |
Foreign | 10,060 | 8,142 | 7,921 |
Current Income Tax Expense (Benefit), Total | 72,261 | 16,176 | 47,582 |
State | 196 | -985 | -40 |
Federal | -17,222 | 11,532 | -23,572 |
Foreign | -38 | 24 | 211 |
Deferred Income Tax Expense (Benefit), Total | -17,064 | 10,571 | -23,401 |
Income Tax Expense (Benefit) | $55,197 | $26,747 | $24,181 |
Income_Taxes_Schedule_Of_Effec
Income Taxes (Schedule Of Effective Income Tax Rate) (Details) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Effective Income Tax Rate Reconciliation, Percent [Abstract] | |||
Statutory rate | 35.00% | 35.00% | 35.00% |
Non-deductible expenses | 0.50% | 0.40% | 6.10% |
Effective Income Tax Rate Reconciliation, Noncontrolling Interest Income (Loss), Percent | -5.30% | -0.50% | 0.60% |
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance | 0.00% | 0.00% | -5.50% |
Effective Income Tax Rate Reconciliation, Deductions, Other | 1.20% | 5.10% | 4.20% |
State taxes | 2.30% | 0.20% | 4.20% |
Other | 0.10% | -0.60% | -0.30% |
Effective Income Tax Rate | 33.80% | 39.60% | 44.30% |
Income_Taxes_Components_Of_The
Income Taxes (Components Of The Net Deferred Income Tax Liabilities) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Components of Deferred Tax Assets and Liabilities [Abstract] | ||
Property and Equipment | $316,269 | $343,411 |
Long-term Debt | 58,542 | 56,587 |
Unremitted earnings of foreign subsidiaries | 38,633 | 40,321 |
Investments in 50% or Less Owned Companies | 18,458 | 23,573 |
Gains on marketable securities | 11,082 | 2,064 |
Intangible assets | 7,922 | 1,711 |
Deductible Goodwill | 5,595 | 3,501 |
Other | 4,302 | 1,774 |
Total deferred tax liabilities | 460,803 | 472,942 |
Share award plans | 11,081 | 8,347 |
Other | 11,852 | 13,662 |
Total deferred tax assets | 22,933 | 22,009 |
Valuation allowance | 4,906 | 6,778 |
Net deferred tax assets | 18,027 | 15,231 |
Net deferred tax liabilities | $442,776 | $457,711 |
Fair_Value_Measurements_Financ
Fair Value Measurements (Financial Assets And Liabilities Measured At Fair Value On Recurring Basis) (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Construction Reserve Funds & Title XI Reserve Funds | $278,022,000 | $261,739,000 | |
Fair Value, Inputs, Level 1 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Marketable securities | 58,004,000 | 24,292,000 | |
Derivative instruments (included in other receivables) | 2,277,000 | 185,000 | |
Construction Reserve Funds & Title XI Reserve Funds | 261,739,000 | ||
Short sales of marketable securities | 7,339,000 | 10,697,000 | |
Derivative instruments (included in other current liabilities) | 2,834,000 | 1,511,000 | |
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) | 6,205,000 | 6,072,000 | |
Construction Reserve Funds & Title XI Reserve Funds | 0 | 0 | |
Short sales of marketable securities | 0 | 0 | |
Derivative instruments (included in other current liabilities) | 752,000 | 1,828,000 | |
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 & Title XI Reserve Funds | 0 | 0 | |
Short sales of marketable securities | 0 | 0 | |
Derivative instruments (included in other current liabilities) | 0 | 0 | |
Marketable Security Positions Held By The Company As Of December 31, 2014 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Marketable security gains (losses), net include losses | 27,800,000 | 6,500,000 | -400,000 |
Marketable Security Positions Held By The Company As Of December 31, 2013 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Marketable security gains (losses), net include losses | $5,800,000 | ($700,000) |
Fair_Value_Measurements_Estima
Fair Value Measurements (Estimated Fair Value Of Other Financial Assets And Liabilities) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 11, 2012 | Nov. 13, 2013 |
In Thousands, unless otherwise specified | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Cash, Cash Equivalents and Restricted Cash | $450,618 | $539,610 | ||
Investment Owned, at Cost | 10,442 | 9,315 | ||
Notes, Loans and Financing Receivable, Gross, Noncurrent | 23,250 | 13,544 | ||
Debt, Long-term and Short-term, Combined Amount | 882,882 | 879,441 | ||
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% | 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% | 3.00% | ||
Fair Value, Inputs, Level 1 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Cash, Cash Equivalents and Restricted Cash, Fair Value Disclosure | 450,618 | 539,610 | ||
Long-term Debt, Fair Value | 0 | 0 | ||
Fair Value, Inputs, Level 2 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Cash, Cash Equivalents and Restricted Cash, Fair Value Disclosure | 0 | 0 | ||
Long-term Debt, Fair Value | 990,146 | 1,094,193 | ||
Fair Value, Inputs, Level 3 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Cash, Cash Equivalents and Restricted Cash, Fair Value Disclosure | 0 | 0 | ||
Long-term Debt, Fair Value | $0 | $0 |
Fair_Value_Measurements_NonFin
Fair Value Measurements (Non-Financial Assets And Liabilities Measured At Fair Value) (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2014 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Asset Impairment Charges | $3,000,000 | $1,200,000 | |
Aircraft [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Asset Impairment Charges | 4,400,000 | ||
Cost-method Investments [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Asset Impairment Charges | 3,300,000 | ||
U.S.-flag Harbor Tugs [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Asset Impairment Charges | 3,000,000 | ||
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, Fair Value Disclosure | 17,494,000 | 0 | |
Fair Value, Inputs, Level 1 [Member] | Witt O'Brien's LLC [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Equity Method Investments, Fair Value Disclosure | 0 | ||
Fair Value, Inputs, Level 1 [Member] | C-Lift LLC [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Equity Method Investments, Fair Value Disclosure | 0 | ||
Fair Value, Inputs, Level 1 [Member] | Dorian LPG [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Equity Method Investments, Fair Value Disclosure | 0 | ||
Fair Value, Inputs, Level 1 [Member] | Zhuhai SEACOR/Avion Logistics Company Limited [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investment in affiliates (included in Investments, at Equity, and Advances to 50% or Less Owned Companies) | 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, Fair Value Disclosure | 0 | 11,700,000 | |
Fair Value, Inputs, Level 2 [Member] | Witt O'Brien's LLC [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Equity Method Investments, Fair Value Disclosure | 50,569,000 | ||
Fair Value, Inputs, Level 2 [Member] | C-Lift LLC [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Equity Method Investments, Fair Value Disclosure | 13,290,000 | ||
Fair Value, Inputs, Level 2 [Member] | Dorian LPG [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Equity Method Investments, Fair Value Disclosure | 14,989,000 | ||
Fair Value, Inputs, Level 2 [Member] | Zhuhai SEACOR/Avion Logistics Company Limited [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investment in affiliates (included in Investments, at Equity, and Advances to 50% or Less Owned Companies) | 924,000 | ||
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, Fair Value Disclosure | 0 | 0 | |
Fair Value, Inputs, Level 3 [Member] | Witt O'Brien's LLC [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Equity Method Investments, Fair Value Disclosure | 0 | ||
Fair Value, Inputs, Level 3 [Member] | C-Lift LLC [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Equity Method Investments, Fair Value Disclosure | 0 | ||
Fair Value, Inputs, Level 3 [Member] | Dorian LPG [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Equity Method Investments, Fair Value Disclosure | 0 | ||
Fair Value, Inputs, Level 3 [Member] | Zhuhai SEACOR/Avion Logistics Company Limited [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investment in affiliates (included in Investments, at Equity, and Advances to 50% or Less Owned Companies) | $0 |
Derivative_Instruments_And_Hed2
Derivative Instruments And Hedging Strategies (Narrative) (Details) (USD $) | Dec. 31, 2014 | Sep. 30, 2014 |
In Millions, unless otherwise specified | ||
SCFCo Holdings [Member] | Cash Flow Hedging [Member] | ||
Derivative [Line Items] | ||
Derivative, Notional Amount | $16.90 | |
Fixed interest rate range, start | 1.53% | |
Fixed interest rate range, end | 1.62% | |
SeaJon [Member] | Cash Flow Hedging [Member] | ||
Derivative [Line Items] | ||
Derivative, Notional Amount | 35 | |
Fixed interest rate | 2.79% | |
Sea Cat Crewzer [Member] | Cash Flow Hedging [Member] | ||
Derivative [Line Items] | ||
Derivative, Notional Amount | 24.8 | |
Fixed interest rate | 1.52% | |
Sea-Cat Crewzer II [Member] | Cash Flow Hedging [Member] | ||
Derivative [Line Items] | ||
Derivative, Notional Amount | 28 | |
Fixed interest rate | 1.52% | |
Not Designated as Hedging Instrument [Member] | Forward Currency Exchange, Option And Future Contracts [Member] | ||
Derivative [Line Items] | ||
Derivative, Notional Amount | 4.2 | |
Not Designated as Hedging Instrument [Member] | Interest Rate Swap [Member] | ||
Derivative [Line Items] | ||
Derivative, Notional Amount | 9.4 | |
Fixed interest rate | 3.00% | |
Not Designated as Hedging Instrument [Member] | Sea Cat Crewzer [Member] | Interest Rate Swap [Member] | ||
Derivative [Line Items] | ||
Derivative, Notional Amount | 15.4 | |
Fixed interest rate | 1.48% | |
Not Designated as Hedging Instrument [Member] | Dynamic Offshore Drilling Ltd. [Member] | Interest Rate Swap [Member] | ||
Derivative [Line Items] | ||
Derivative, Notional Amount | 93.4 | |
Fixed interest rate | 1.30% | |
Not Designated as Hedging Instrument [Member] | OSV Partners [Member] | Interest Rate Swap [Member] | ||
Derivative [Line Items] | ||
Derivative, Notional Amount | 39.3 | |
Fixed interest rate range, start | 1.89% | |
Fixed interest rate range, end | 2.27% | |
Not Designated as Hedging Instrument [Member] | MexMar [Member] | Interest Rate Swap [Member] | ||
Derivative [Line Items] | ||
Fixed interest rate range, start | 1.17% | |
Fixed interest rate range, end | 1.95% | |
Not Designated as Hedging Instrument [Member] | Dorian LPG [Member] | Interest Rate Swap [Member] | ||
Derivative [Line Items] | ||
Derivative, Notional Amount | $121.30 | |
Fixed interest rate range, start | 2.96% | |
Fixed interest rate range, end | 5.40% |
Derivative_Instruments_And_Hed3
Derivative Instruments And Hedging Strategies (Fair Values Of Derivative Instruments) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Asset | $8,482 | $6,257 |
Derivative Liability | 3,586 | 3,339 |
Options On Equities And Equity Indices [Member] | Not Designated as Hedging Instrument [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Asset | 0 | 224 |
Derivative Liability | 65 | 7 |
Forward Currency Exchange, Option And Future Contracts [Member] | Not Designated as Hedging Instrument [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Asset | 1 | 349 |
Derivative Liability | 218 | 213 |
Interest Rate Swap [Member] | Not Designated as Hedging Instrument [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Asset | 0 | 0 |
Derivative Liability | 499 | 1,615 |
Commodity Swap, Option And Future Contracts, Exchange Traded [Member] | Not Designated as Hedging Instrument [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Asset | 2,277 | 185 |
Derivative Liability | 2,768 | 1,504 |
Commodity Swap, Option And Future Contracts, Non-Exchange Traded [Member] | Not Designated as Hedging Instrument [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Asset | 6,204 | 5,499 |
Derivative Liability | $36 | $0 |
Derivative_Instruments_And_Hed4
Derivative Instruments And Hedging Strategies (Recognized Gains (Losses) On Derivative Instruments Designated As Cash Flow Hedges) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Derivative [Line Items] | |||
Reclassification of derivative losses on cash flow hedges to equity in earnings (losses) of 50% or less owned companies | $511 | $622 | $2,724 |
Gains (Losses) on derivative instruments designated as cash flow hedges, Other comprehensive income (loss) | 371 | 731 | 4,286 |
Interest rate swap agreements, ineffective portion, Derivative gains (losses), net | 0 | 0 | -58 |
Derivative Gains (Losses) [Member] | |||
Derivative [Line Items] | |||
Reclassification of derivative losses on cash flow hedges to equity in earnings (losses) of 50% or less owned companies | 0 | 0 | 3,272 |
Interest Rate Swap [Member] | |||
Derivative [Line Items] | |||
Interest rate swap agreements, effective portion, Other comprehensive income (loss) | ($140) | $109 | ($1,710) |
Derivative_Instruments_And_Hed5
Derivative Instruments And Hedging Strategies (Recognized Gains (Losses) On Derivative Instruments Not Designated As Hedging Instruments) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Derivative [Line Items] | |||
Derivative gains (losses), net | ($3,902) | ($8,323) | ($2,754) |
Options On Equities And Equity Indices [Member] | |||
Derivative [Line Items] | |||
Derivative gains (losses), net | 38 | -5,270 | -680 |
Forward Currency Exchange, Option And Future Contracts [Member] | |||
Derivative [Line Items] | |||
Derivative gains (losses), net | -183 | -451 | 837 |
Interest Rate Swap [Member] | |||
Derivative [Line Items] | |||
Derivative gains (losses), net | -176 | -37 | -3,778 |
Commodity Swap, Option And Future Contracts, Exchange Traded [Member] | |||
Derivative [Line Items] | |||
Derivative gains (losses), net | -4,250 | -3,915 | -1,020 |
Commodity Swap, Option And Future Contracts, Non-Exchange Traded [Member] | |||
Derivative [Line Items] | |||
Derivative gains (losses), net | $669 | $1,350 | $1,887 |
Common_Stock_Details
Common Stock (Details) (USD $) | 12 Months Ended | ||
In Millions, except Share data, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Stock Repurchase Program [Line Items] | |||
Treasury stock, shares acquired | 2,531,324 | 1,377,798 | |
Treasury Stock, Value, Acquired, Cost Method | $195.30 | $119.60 | |
Repurchase program, remaining authorized repurchase amount | 150 | ||
Special Cash Dividend Declared and Paid Per Common Share of SEACOR Holdings Inc. | $0 | $0 | $5 |
Dividends, Cash | 100.4 | ||
Outstanding common shares receiving dividends | 20,076,762 | ||
Restricted Stock [Member] | |||
Stock Repurchase Program [Line Items] | |||
Dividends, Cash | 0.9 | ||
Outstanding common shares receiving dividends | 171,562 | ||
Employee Stock Option [Member] | |||
Stock Repurchase Program [Line Items] | |||
Treasury stock, shares acquired | 26,792 | ||
Treasury Stock, Value, Acquired, Cost Method | $2 |
Noncontrolling_Interests_in_Su2
Noncontrolling Interests in Subsidiaries (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Noncontrolling Interest [Line Items] | |||||||||||
Noncontrolling interests in subsidiaries | $117,993,000 | $24,576,000 | $117,993,000 | $24,576,000 | |||||||
Net Income | 49,329,000 | 33,778,000 | 27,525,000 | 13,715,000 | 9,120,000 | 30,769,000 | 19,296,000 | -21,361,000 | 124,347,000 | 37,824,000 | 60,459,000 |
Net Income (Loss) Attributable to Noncontrolling Interest | 24,215,000 | 854,000 | -756,000 | ||||||||
Noncontrolling Interest, Increase from Subsidiary Equity Issuance | 152,423,000 | 40,000 | 83,000 | ||||||||
Purchase of subsidiary shares from noncontrolling interests | -3,110,000 | ||||||||||
Dividends paid to noncontrolling interests | 6,070,000 | 4,186,000 | 2,901,000 | ||||||||
Windcat Workboats Ltd. [Member] | |||||||||||
Noncontrolling Interest [Line Items] | |||||||||||
Net Assets | 30,100,000 | 30,200,000 | 30,100,000 | 30,200,000 | |||||||
Net Income | 1,900,000 | -900,000 | 300,000 | ||||||||
Net Income (Loss) Attributable to Noncontrolling Interest | 500,000 | -200,000 | 100,000 | ||||||||
Sea-Vista [Member] | |||||||||||
Noncontrolling Interest [Line Items] | |||||||||||
Net Assets | 183,000,000 | 183,000,000 | |||||||||
Net Income | 25,100,000 | ||||||||||
Net Income (Loss) Attributable to Noncontrolling Interest | 12,300,000 | ||||||||||
Illinois Corn Processing Llc [Member] | |||||||||||
Noncontrolling Interest [Line Items] | |||||||||||
Noncontrolling interests in subsidiaries | 10,894,000 | 10,894,000 | |||||||||
Net Assets | 59,000,000 | 38,700,000 | 59,000,000 | 38,700,000 | |||||||
Net Income | 38,400,000 | -2,100,000 | -3,400,000 | ||||||||
Net Income (Loss) Attributable to Noncontrolling Interest | 10,300,000 | -1,300,000 | -1,000,000 | ||||||||
Offshore Marine Services [Member] | Windcat Workboats Ltd. [Member] | |||||||||||
Noncontrolling Interest [Line Items] | |||||||||||
Noncontrolling interests in subsidiaries | 7,527,000 | 7,541,000 | 7,527,000 | 7,541,000 | |||||||
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners | 25.00% | 25.00% | |||||||||
Offshore Marine Services [Member] | Other Offshore Marine Services Noncontrolling Interests [Member] | |||||||||||
Noncontrolling Interest [Line Items] | |||||||||||
Noncontrolling interests in subsidiaries | 1,323,000 | 1,600,000 | 1,323,000 | 1,600,000 | |||||||
Inland River Services [Member] | |||||||||||
Noncontrolling Interest [Line Items] | |||||||||||
Purchase of subsidiary shares from noncontrolling interests | 3,100,000 | ||||||||||
Payments for Repurchase of Redeemable Noncontrolling Interest | 2,100,000 | ||||||||||
Dividends paid to noncontrolling interests | 1,000,000 | ||||||||||
Inland River Services [Member] | Other Inland River Services Noncontrolling Interests [Member] | |||||||||||
Noncontrolling Interest [Line Items] | |||||||||||
Noncontrolling interests in subsidiaries | 1,088,000 | 2,612,000 | 1,088,000 | 2,612,000 | |||||||
Shipping Services [Member] | Sea-Vista [Member] | |||||||||||
Noncontrolling Interest [Line Items] | |||||||||||
Noncontrolling interests in subsidiaries | 89,680,000 | 0 | 89,680,000 | 0 | |||||||
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners | 49.00% | 49.00% | |||||||||
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 Interest [Line Items] | |||||||||||
Noncontrolling interests in subsidiaries | 16,397,000 | 16,397,000 | |||||||||
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners | 30.00% | 30.00% | |||||||||
Other Segments [Member] | Other Noncontrolling Interests [Member] | |||||||||||
Noncontrolling Interest [Line Items] | |||||||||||
Noncontrolling interests in subsidiaries | $1,978,000 | $1,929,000 | $1,978,000 | $1,929,000 | |||||||
U.S.-flag Product Tankers [Member] | |||||||||||
Noncontrolling Interest [Line Items] | |||||||||||
Unrecorded Unconditional Purchase Obligation, Maximum Quantity | 3 | 3 | |||||||||
U.S.-flag Product Tankers [Member] | Shipping Services [Member] | Sea-Vista [Member] | |||||||||||
Noncontrolling Interest [Line Items] | |||||||||||
Unrecorded Unconditional Purchase Obligation, Maximum Quantity | 3 | 3 | |||||||||
Minimum [Member] | Offshore Marine Services [Member] | Other Offshore Marine Services Noncontrolling Interests [Member] | |||||||||||
Noncontrolling Interest [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 Interest [Line Items] | |||||||||||
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners | 3.00% | 3.00% | |||||||||
Minimum [Member] | Other Segments [Member] | Other Noncontrolling Interests [Member] | |||||||||||
Noncontrolling Interest [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 Interest [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 Interest [Line Items] | |||||||||||
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners | 51.80% | 51.80% | |||||||||
Maximum [Member] | Other Segments [Member] | Other Noncontrolling Interests [Member] | |||||||||||
Noncontrolling Interest [Line Items] | |||||||||||
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners | 18.90% | 18.90% |
Savings_Plans_And_Multiemploye1
Savings Plans And Multiemployer Pension Plans (Details) | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | ||||||||||||||||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2011 | Dec. 31, 2011 | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
MNOPF [member] | MNOPF [member] | MNRPF [Member] | MNRPF [Member] | MNRPF [Member] | American Maritime Officers Pension Plan [Member] | American Maritime Officers Pension Plan [Member] | American Maritime Officers Pension Plan [Member] | American Maritime Officers Pension Plan [Member] | SPP [Member] | SPP [Member] | SPP [Member] | SEACOR Savings Plan [Member] | SEACOR Savings Plan [Member] | SEACOR Savings Plan [Member] | SEACOR Deferred Compensation Plan [Member] | SEACOR Deferred Compensation Plan [Member] | SEACOR Deferred Compensation Plan [Member] | SEACOR Deferred Compensation Plan [Member] | Other Defined Contribution Plan [Member] | Other Defined Contribution Plan [Member] | Other Defined Contribution Plan [Member] | |
USD ($) | USD ($) | USD ($) | USD ($) | GBP (£) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | Deferred Bonus [Member] | Restricted Stock [Member] | USD ($) | USD ($) | USD ($) | |
Defined Benefit Plan Disclosure [Line Items] | ||||||||||||||||||||||
Maximum plan contribution as a percentage of total contribution | 50.00% | 75.00% | 100.00% | 100.00% | ||||||||||||||||||
Maximum Employee Contribution Rate Attracting and Employer Match | 6.00% | |||||||||||||||||||||
Defined Contribution Plan Contributions | $2.40 | $2.20 | $3.30 | $0.70 | $0.50 | $0.40 | ||||||||||||||||
Deferred compensation obligation | 0.2 | 0.6 | ||||||||||||||||||||
Pension and other postretirement benefit expense | 2.7 | 16.7 | 0.4 | |||||||||||||||||||
Pension and other postretirement benefit plans, total funding deficit | 506.3 | 325 | ||||||||||||||||||||
Pension and Other Postretirement Benefit Plans, Allocated Share of Funding Deficit | 6.5 | 4.2 | ||||||||||||||||||||
Multiemployer Plans, Withdrawal Obligation | 46.5 | |||||||||||||||||||||
Pension and Other Postretirement Benefit Contributions | $1.10 | $0.90 | $0.90 | $1.50 | $1.50 | $1.30 |
Share_Based_Compensation_Narra
Share Based Compensation (Narrative) (Details) (USD $) | 12 Months Ended | ||
In Millions, except Share data, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Common stock authorized for grant under the Share Incentive Plans | 6,650,000 | ||
Exercise price per share of options granted, percentage, minimum | 100.00% | ||
Additional compensation expense | $15.30 | $14.50 | $33.30 |
Unrecognized compensation costs | 31.2 | ||
Compensation costs expected to be recognized in 2015 | 11.4 | ||
Compensation costs expected to be recognized in 2016 | 8.5 | ||
Weighted average values of grants | $53.03 | $43.74 | $58.22 |
Weighted average expected volatility | 29.40% | 30.47% | 31.00% |
Weighted average discount rates | 1.85% | 1.53% | 0.81% |
Expected lives | 5 years 11 months 1 day | 5 years 11 months 16 days | 5 years 10 months 28 days |
Total grant date fair value of restricted stock and restricted stock units vested | 3.7 | 3.7 | 38.1 |
Share-based Compensation Arrangement by Share-based Payment Award Accelerated Compensation Cost | 3.3 | 12.2 | |
Aggregate intrinsic value of exercised stock options | 5.1 | 10.5 | 7 |
Weighted average remaining contractual term for total outstanding stock options | 5 years 7 months 2 days | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Weighted Average Remaining Contractual Term | 4 years 2 months 5 days | ||
Aggregate intrinsic value of options outstanding | 21.3 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value | $18.60 | ||
Special Cash Dividend Declared and Paid Per Common Share of SEACOR Holdings Inc. | $0 | $0 | $5 |
Employee Stock [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Common stock authorized for grant under the Share Incentive Plans | 600,000 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Discount from Market Price, Purchase Date | 85.00% | ||
Common stock made available for purchase under the Employee Stock Purchase Plans, offering period, months | 6 | ||
Restricted Stock [Member] | Minimum [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Restricted stock and restricted stock units vesting period, minimum | 1 year | ||
Restricted Stock [Member] | Maximum [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Restricted stock and restricted stock units vesting period, minimum | 5 years | ||
Employee Stock Option [Member] | Minimum [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Restricted stock and restricted stock units vesting period, minimum | 1 year | ||
Employee Stock Option [Member] | Maximum [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Restricted stock and restricted stock units vesting period, minimum | 5 years |
Share_Based_Compensation_Share
Share Based Compensation (Share Based Compensation Plans) (Details) | 12 Months Ended | |||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2014 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Restricted stock awards granted | 150,145 | 148,300 | 134,600 | |
Restricted stock awards forfeited | -1,325 | -18,000 | -2,120 | |
Director stock awards granted | 2,625 | 2,500 | 4,000 | |
Shares released from Deferred Compensation Plan | -216 | -1,692 | 0 | |
Stock Option, Outstanding as of December 31, | 1,481,280 | 1,281,821 | 1,272,192 | 1,546,508 |
Total Options, Granted, Number of Shares | 199,100 | 529,912 | 173,700 | |
Stock Options, Exercised, Number of Shares | -133,872 | -328,077 | -149,781 | |
Stock Options, Forfeited, Number of Shares | 0 | 800 | 0 | |
Stock Options, Expired, Number of Shares | 0 | -1,576 | -14,290 | |
Stock Issued During Period, Shares, Employee Stock Purchase Plans | 30,622 | 31,586 | 39,980 | |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 1,127,328 | 508,495 | 1,200,417 | |
Restricted Stock Units (RSUs) [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Restricted Stock, Outstanding Beginning of Period | 0 | 0 | 1,130 | |
Restricted Stock Unit, Granted | 0 | 0 | 0 | |
Restricted Stock Unit, Converted to shares and issued to Deferred Compensation Plan | 0 | 0 | 1,130 | |
Restricted Stock, Outstanding End of Period | 0 | 0 | 0 |
Share_Based_Compensation_Sched
Share Based Compensation (Schedule Of Share-based Compensation, Restricted Stock And Restricted Stock Units Activity) (Details) (Restricted Stock [Member], USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | |
Restricted Stock [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Restricted Stock, Outstanding End of Period | 398,460 | 302,370 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 150,145 | ||
Vested Number of Shares | -52,730 | ||
Forfeited Number of Shares | -1,325 | ||
Weighted Average Grant Price Nonvested | $70.61 | $77.46 | |
Granted Weighted Average Grant Price | $88.60 | ||
Vested Weighted Average Grant Price | $69.98 | ||
Forfeited Weighted Average Grant Price | $75.07 |
Share_Based_Compensation_Sched1
Share Based Compensation (Schedule Of Share-based Compensation, Stock Options, Activity) (Details) (USD $) | 12 Months Ended | |||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2014 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Stock Option, Outstanding as of December 31, | 1,481,280 | 1,281,821 | 1,272,192 | 1,546,508 |
Stock Options, Granted, Number of Shares | 199,100 | |||
Total Options, Vested, Number of Shares | 0 | |||
Stock Options, Exercised, Number of Shares | -133,872 | -328,077 | -149,781 | |
Stock Options, Forfeited, Number of Shares | 0 | 800 | 0 | |
Stock Options, Expired, Number of Shares | 0 | -1,576 | -14,290 | |
Stock Options Weighted Average Exercise Price Outstanding | $57.95 | $62.04 | ||
Stock Options, Granted, Weighted Average Exercise Price | $80.69 | |||
Total Options, Vested, Weighted Average Exercise Price | $0 | |||
Stock Options, Exercised, Weighted Average Exercise Price | $44.49 | |||
Nonvested Stock Options [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Stock Option, Outstanding as of December 31, | 651,606 | 605,611 | ||
Stock Options, Granted, Number of Shares | 199,100 | |||
Total Options, Vested, Number of Shares | -245,095 | |||
Stock Options, Exercised, Number of Shares | 0 | |||
Stock Options Weighted Average Exercise Price Outstanding | $23.36 | $24.51 | ||
Stock Options, Granted, Weighted Average Exercise Price | $25.84 | |||
Total Options, Vested, Weighted Average Exercise Price | $22.53 | |||
Stock Options, Exercised, Weighted Average Exercise Price | $0 | |||
Vested Stock Options [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Stock Option, Outstanding as of December 31, | 829,674 | 940,897 | ||
Stock Options, Granted, Number of Shares | 0 | |||
Total Options, Vested, Number of Shares | -245,095 | |||
Stock Options, Exercised, Number of Shares | -133,872 | |||
Stock Options Weighted Average Exercise Price Outstanding | $50.42 | $54.53 | ||
Stock Options, Granted, Weighted Average Exercise Price | ||||
Total Options, Vested, Weighted Average Exercise Price | $62.96 | |||
Stock Options, Exercised, Weighted Average Exercise Price | $44.49 | |||
Era Group [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Stock Options, Granted, Number of Shares | 318,012 |
Related_Party_Transactions_Det
Related Party Transactions (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
OSV Partners [Member] | |||
Related Party Transaction [Line Items] | |||
Related Party Transaction, Revenues from Transactions with Related Party | $1.20 | $0.20 | |
Partners' Capital Account, Contributions | 5.1 | 4.1 | |
Equity Method Investment, Ownership Percentage | 30.40% | ||
Officer [Member] | OSV Partners [Member] | |||
Related Party Transaction [Line Items] | |||
Partners' Capital Account, Contributions | 0.2 | ||
Equity Method Investment, Ownership Percentage | 1.74% | ||
Diamond Offshore Drilling, Inc. [Member] | Maximum [Member] | |||
Related Party Transaction [Line Items] | |||
Related Party Transaction, Revenues from Transactions with Related Party | 5 | ||
Era Group [Member] | Maximum [Member] | |||
Related Party Transaction [Line Items] | |||
Related Party Transaction, Revenues from Transactions with Related Party | 5 | ||
Dry-cargo barge pools [Member] | President [Member] | |||
Related Party Transaction [Line Items] | |||
Related party transaction, amounts | 1.7 | 0.9 | 0.8 |
Management fees | 0.2 | 0.2 | 0.1 |
Payables to related parties | 1.1 | 0.6 | |
Illinois Corn Processing Llc [Member] | MGP Ingredients, Inc. [Member] | |||
Related Party Transaction [Line Items] | |||
Related Party Transaction, Revenues from Transactions with Related Party | 36.3 | 6.6 | 44.8 |
Due from Related Parties, Current | $3.30 | $1.80 |
Commitments_And_Contingencies_1
Commitments And Contingencies (Narrative) (Details) (USD $) | 12 Months Ended | |||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2014 | Dec. 31, 2010 | Mar. 31, 2015 |
claim | ||||||
Commitments and Contingencies [Line Items] | ||||||
Unrecorded unconditional purchase obligation | 490.7 | |||||
Unrecorded Unconditional Purchase Obligation, Due in 2015 | 247.3 | |||||
Recorded Unconditional Purchase Obligation Due in Second Year | 204 | |||||
Recorded Unconditional Purchase Obligation Due in Third Year | 34 | |||||
Unrecorded Unconditional Purchase Obligation Due in Fourth Year | 5.4 | |||||
Total rental expense for operating leases | 66.8 | 70.9 | 57.9 | |||
Offshore Support Vessels [Member] | ||||||
Commitments and Contingencies [Line Items] | ||||||
Unrecorded unconditional purchase obligation | 184.4 | |||||
Unrecorded Unconditional Purchase Obligation, Maximum Quantity | 18 | |||||
Number of equipment leases | 16 | |||||
Inland River Liquid Tank Barges - 30,000 Barrel [Member] | ||||||
Commitments and Contingencies [Line Items] | ||||||
Unrecorded unconditional purchase obligation | 1.6 | |||||
Unrecorded Unconditional Purchase Obligation, Maximum Quantity | 2 | |||||
Number of equipment leases | 8 | |||||
Inland River Towboats [Member] | ||||||
Commitments and Contingencies [Line Items] | ||||||
Unrecorded unconditional purchase obligation | 3.2 | |||||
Unrecorded Unconditional Purchase Obligation, Maximum Quantity | 4 | |||||
U.S.-flag Product Tankers [Member] | ||||||
Commitments and Contingencies [Line Items] | ||||||
Unrecorded unconditional purchase obligation | 230.1 | |||||
Unrecorded Unconditional Purchase Obligation, Maximum Quantity | 3 | |||||
Number of equipment leases | 3 | |||||
U.S. Flag Articulated Tug-Barge [Member] | ||||||
Commitments and Contingencies [Line Items] | ||||||
Unrecorded unconditional purchase obligation | 56.3 | |||||
Unrecorded Unconditional Purchase Obligation, Maximum Quantity | 1 | |||||
Other Machinery and Equipment [Member] | ||||||
Commitments and Contingencies [Line Items] | ||||||
Unrecorded unconditional purchase obligation | 15.1 | |||||
Inland River Dry Cargo Barges [Member] | ||||||
Commitments and Contingencies [Line Items] | ||||||
Number of equipment leases | 2 | |||||
U.S.-flag Harbor Tugs [Member] | ||||||
Commitments and Contingencies [Line Items] | ||||||
Number of equipment leases | 9 | |||||
Subsequent Event [Member] | ||||||
Commitments and Contingencies [Line Items] | ||||||
Unrecorded unconditional purchase obligation | 15.1 | |||||
Subsequent Event [Member] | Inland River Liquid Tank Barges - 10,000 Barrel [Member] | ||||||
Commitments and Contingencies [Line Items] | ||||||
Unrecorded unconditional purchase obligation | 0 | |||||
Minimum [Member] | ||||||
Commitments and Contingencies [Line Items] | ||||||
Sale Leaseback Transaction, Lease Terms | 60 | 48 | 10 | |||
Minimum [Member] | U.S.-flag Product Tankers [Member] | ||||||
Commitments and Contingencies [Line Items] | ||||||
Sale Leaseback Transaction, Lease Terms | 93 | |||||
Maximum [Member] | ||||||
Commitments and Contingencies [Line Items] | ||||||
Sale Leaseback Transaction, Lease Terms | 120 | 96 | 84 | |||
Maximum [Member] | U.S.-flag Product Tankers [Member] | ||||||
Commitments and Contingencies [Line Items] | ||||||
Sale Leaseback Transaction, Lease Terms | 109 | |||||
Wunstell Action [Member] | ||||||
Commitments and Contingencies [Line Items] | ||||||
Loss Contingency, New Claims Filed, Number | 2 | |||||
Master Complaints [Member] | ||||||
Commitments and Contingencies [Line Items] | ||||||
Loss Contingency, New Claims Filed, Number | 1 | |||||
Multi-district Litigation [Member] | ||||||
Commitments and Contingencies [Line Items] | ||||||
Loss Contingency, New Claims Filed, Number | 10 | |||||
Darnell Alexander [Member] | ||||||
Commitments and Contingencies [Line Items] | ||||||
Loss Contingency, New Claims Filed, Number | 410 | 117 | ||||
Abney Litigation [Member] | ||||||
Commitments and Contingencies [Line Items] | ||||||
Loss Contingency, New Claims Filed, Number | 668 | |||||
Abood Litigation [Member] | ||||||
Commitments and Contingencies [Line Items] | ||||||
Loss Contingency, New Claims Filed, Number | 174 | |||||
FLSA Actions [Member] | ||||||
Commitments and Contingencies [Line Items] | ||||||
Loss Contingency, New Claims Filed, Number | 1 | |||||
Offshore Marine Services [Member] | ||||||
Commitments and Contingencies [Line Items] | ||||||
Other Nonoperating Gains (Losses) | 14.7 |
Commitments_And_Contingencies_2
Commitments And Contingencies (Future Minimum Payments Under Operating Leases) (Details) (USD $) | Dec. 31, 2014 |
In Thousands, unless otherwise specified | |
Commitments and Contingencies Disclosure [Abstract] | |
Total Minimum Payments, 2015 | $64,289 |
Total Minimum Payments, 2016 | 62,567 |
Total Minimum Payments, 2017 | 67,612 |
Total Minimum Payments, 2018 | 47,730 |
Total Minimum Payments, 2019 | 43,286 |
Total Minimum Payments, Years subsequent to 2019 | 98,914 |
Non-cancelable Subleases, 2015 | -17,345 |
Non-cancellable Subleases, 2016 | -17,392 |
Non-cancellable Subleases, 2017 | -17,345 |
Non-cancellable Subleases, 2018 | -17,345 |
Non-cancellable Subleases, 2019 | -17,345 |
Non-cancellable Subleases, Years subsequent to 2019 | -58,782 |
Net Minimum Payments, 2015 | 46,944 |
Net Minimum Payments, 2016 | 45,175 |
Net Minimum Payments, 2017 | 50,267 |
Net Minimum Payments, 2018 | 30,385 |
Net Minimum Payments, 2019 | 25,941 |
Net Minimum Payments, Years subsequent to 2019 | $40,132 |
Major_Customers_And_Segment_In2
Major Customers And Segment Information (Operating Results, Capital Expenditures And Assets By Reportable Segments) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Segment Reporting Information [Line Items] | |||||||||||
Operating Revenues | $342,217,000 | $338,936,000 | $328,224,000 | $310,017,000 | $327,861,000 | $336,784,000 | $315,563,000 | $267,064,000 | $1,319,394,000 | $1,247,272,000 | $1,308,297,000 |
Administrative and general | 164,938,000 | 141,348,000 | 166,743,000 | ||||||||
Depreciation and amortization | 131,819,000 | 134,518,000 | 131,667,000 | ||||||||
Total costs and expenses | 1,206,129,000 | 1,184,737,000 | 1,275,879,000 | ||||||||
Gains on Asset Dispositions and Impairments, Net | 51,978,000 | 37,507,000 | 23,987,000 | ||||||||
Operating Income (Loss) | 57,416,000 | 50,870,000 | 32,707,000 | 24,250,000 | 30,307,000 | 51,508,000 | 19,254,000 | -1,027,000 | 165,243,000 | 100,042,000 | 56,405,000 |
Derivative gains (losses), net | -3,902,000 | -8,323,000 | -2,812,000 | ||||||||
Foreign currency gains (losses), net | -6,335,000 | -3,351,000 | 1,631,000 | ||||||||
Other, net | 3,439,000 | 586,000 | 7,148,000 | ||||||||
Income (Loss) from Equity Method Investments | 16,309,000 | 7,264,000 | -5,764,000 | ||||||||
Income Before Income Tax Expense (Benefit) and Equity in Earnings of 50% or Less Owned Companies | 163,235,000 | 67,632,000 | 54,572,000 | ||||||||
Payments to Acquire Property, Plant, and Equipment | 360,637,000 | 195,901,000 | 239,350,000 | ||||||||
Property, Plant and Equipment, Gross | 2,086,957,000 | 2,199,183,000 | 2,086,957,000 | 2,199,183,000 | |||||||
Accumulated depreciation | 902,284,000 | 866,330,000 | 902,284,000 | 866,330,000 | |||||||
Property, Plant and Equipment, Net In Service | 1,184,673,000 | 1,332,853,000 | 1,184,673,000 | 1,332,853,000 | |||||||
Construction in progress | 318,000,000 | 143,482,000 | 318,000,000 | 143,482,000 | |||||||
Net property and equipment | 1,502,673,000 | 1,476,335,000 | 1,502,673,000 | 1,476,335,000 | 1,584,876,000 | ||||||
Investments, at Equity, and Advances to 50% or Less Owned Companies | 484,157,000 | 440,853,000 | 484,157,000 | 440,853,000 | |||||||
Inventories | 22,783,000 | 27,615,000 | 22,783,000 | 27,615,000 | |||||||
Goodwill | 62,759,000 | 17,985,000 | 62,759,000 | 17,985,000 | |||||||
Intangible Assets | 32,727,000 | 12,423,000 | 32,727,000 | 12,423,000 | |||||||
Total Assets | 3,245,033,000 | 3,116,233,000 | 3,245,033,000 | 3,116,233,000 | 3,700,794,000 | ||||||
Current Fiscal Year End Date | -19 | ||||||||||
Offshore Marine Services [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating Revenues | 529,761,000 | 567,148,000 | 519,707,000 | ||||||||
Inland River Services [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating Revenues | 249,288,000 | 212,726,000 | 224,409,000 | ||||||||
Shipping Services [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating Revenues | 214,316,000 | 194,184,000 | 179,928,000 | ||||||||
Illinois Corn Processing Llc [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating Revenues | 236,293,000 | 193,682,000 | 188,650,000 | ||||||||
Sales Revenue, Goods, Net | 224,400,000 | 191,600,000 | 184,900,000 | ||||||||
Cost of Goods Sold | 175,800,000 | 184,600,000 | 179,700,000 | ||||||||
Inventory, Raw Materials | 2,200,000 | 1,800,000 | 2,200,000 | 1,800,000 | 2,400,000 | ||||||
Inventory, Work in Process | 1,700,000 | 1,800,000 | 1,700,000 | 1,800,000 | 1,800,000 | ||||||
Other Segments [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating Revenues | 89,736,000 | 79,532,000 | 195,603,000 | ||||||||
Corporate And Eliminations [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating Revenues | 0 | 0 | 0 | ||||||||
Operating Segments [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating Revenues | 1,319,394,000 | 1,247,272,000 | 1,308,297,000 | ||||||||
Operating Expenses | 909,372,000 | 908,871,000 | 977,469,000 | ||||||||
Administrative and general | 164,938,000 | 141,348,000 | 166,743,000 | ||||||||
Depreciation and amortization | 131,819,000 | 134,518,000 | 131,667,000 | ||||||||
Total costs and expenses | 1,206,129,000 | 1,184,737,000 | 1,275,879,000 | ||||||||
Gains on Asset Dispositions and Impairments, Net | 51,978,000 | 37,507,000 | 23,987,000 | ||||||||
Operating Income (Loss) | 165,243,000 | 100,042,000 | 56,405,000 | ||||||||
Derivative gains (losses), net | -3,902,000 | -8,323,000 | -2,812,000 | ||||||||
Foreign currency gains (losses), net | -6,335,000 | -3,351,000 | 1,631,000 | ||||||||
Other, net | 3,439,000 | 586,000 | 7,148,000 | ||||||||
Income (Loss) from Equity Method Investments | 16,309,000 | 7,264,000 | -5,764,000 | ||||||||
Payments to Acquire Property, Plant, and Equipment | 360,637,000 | 195,901,000 | 239,350,000 | ||||||||
Property, Plant and Equipment, Gross | 2,086,957,000 | 2,199,183,000 | 2,086,957,000 | 2,199,183,000 | 2,238,383,000 | ||||||
Accumulated depreciation | 902,284,000 | 866,330,000 | 902,284,000 | 866,330,000 | 763,803,000 | ||||||
Property, Plant and Equipment, Net In Service | 1,184,673,000 | 1,332,853,000 | 1,184,673,000 | 1,332,853,000 | 1,474,580,000 | ||||||
Construction in progress | 318,000,000 | 143,482,000 | 318,000,000 | 143,482,000 | 110,296,000 | ||||||
Net property and equipment | 1,502,673,000 | 1,476,335,000 | 1,502,673,000 | 1,476,335,000 | 1,584,876,000 | ||||||
Investments, at Equity, and Advances to 50% or Less Owned Companies | 484,157,000 | 440,853,000 | 484,157,000 | 440,853,000 | 272,535,000 | ||||||
Inventories | 22,783,000 | 27,615,000 | 22,783,000 | 27,615,000 | 25,787,000 | ||||||
Goodwill | 62,759,000 | 17,985,000 | 62,759,000 | 17,985,000 | 17,978,000 | ||||||
Intangible Assets | 32,727,000 | 12,423,000 | 32,727,000 | 12,423,000 | 15,305,000 | ||||||
Other current and long-term assets, excluding cash and near cash assets | 353,290,000 | 315,381,000 | 353,290,000 | 315,381,000 | 341,650,000 | ||||||
Operating Segments [Member] | Offshore Marine Services [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating Revenues | 529,944,000 | 567,263,000 | 519,817,000 | ||||||||
Operating Expenses | 365,092,000 | 382,045,000 | 349,680,000 | ||||||||
Administrative and general | 58,353,000 | 60,279,000 | 59,253,000 | ||||||||
Depreciation and amortization | 64,615,000 | 65,424,000 | 61,542,000 | ||||||||
Total costs and expenses | 488,060,000 | 507,748,000 | 470,475,000 | ||||||||
Gains on Asset Dispositions and Impairments, Net | 26,545,000 | 28,664,000 | 14,876,000 | ||||||||
Operating Income (Loss) | 68,429,000 | 88,179,000 | 64,218,000 | ||||||||
Derivative gains (losses), net | -171,000 | 83,000 | -243,000 | ||||||||
Foreign currency gains (losses), net | -1,375,000 | -2,209,000 | 1,077,000 | ||||||||
Other, net | 14,671,000 | 3,000 | 2,000 | ||||||||
Income (Loss) from Equity Method Investments | 10,468,000 | 13,522,000 | 5,214,000 | ||||||||
Segment Profit (Loss) | 92,022,000 | 99,578,000 | 70,268,000 | ||||||||
Payments to Acquire Property, Plant, and Equipment | 83,513,000 | 111,517,000 | 168,778,000 | ||||||||
Property, Plant and Equipment, Gross | 1,060,986,000 | 1,139,639,000 | 1,060,986,000 | 1,139,639,000 | 1,158,169,000 | ||||||
Accumulated depreciation | 500,007,000 | 471,590,000 | 500,007,000 | 471,590,000 | 422,564,000 | ||||||
Property, Plant and Equipment, Net In Service | 560,979,000 | 668,049,000 | 560,979,000 | 668,049,000 | 735,605,000 | ||||||
Construction in progress | 87,935,000 | 102,452,000 | 87,935,000 | 102,452,000 | 66,088,000 | ||||||
Net property and equipment | 648,914,000 | 770,501,000 | 648,914,000 | 770,501,000 | 801,693,000 | ||||||
Investments, at Equity, and Advances to 50% or Less Owned Companies | 115,436,000 | 99,160,000 | 115,436,000 | 99,160,000 | 66,805,000 | ||||||
Inventories | 5,570,000 | 6,315,000 | 5,570,000 | 6,315,000 | 6,779,000 | ||||||
Goodwill | 13,367,000 | 13,367,000 | 13,367,000 | 13,367,000 | 13,367,000 | ||||||
Intangible Assets | 1,917,000 | 3,650,000 | 1,917,000 | 3,650,000 | 4,086,000 | ||||||
Other current and long-term assets, excluding cash and near cash assets | 128,499,000 | 149,239,000 | 128,499,000 | 149,239,000 | 139,757,000 | ||||||
Total Assets | 913,703,000 | 1,042,232,000 | 913,703,000 | 1,042,232,000 | 1,032,487,000 | ||||||
Operating Segments [Member] | Inland River Services [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating Revenues | 253,150,000 | 215,613,000 | 226,561,000 | ||||||||
Operating Expenses | 174,918,000 | 152,527,000 | 158,596,000 | ||||||||
Administrative and general | 15,937,000 | 15,410,000 | 15,924,000 | ||||||||
Depreciation and amortization | 29,435,000 | 28,461,000 | 28,270,000 | ||||||||
Total costs and expenses | 220,290,000 | 196,398,000 | 202,790,000 | ||||||||
Gains on Asset Dispositions and Impairments, Net | 29,657,000 | 6,555,000 | 7,666,000 | ||||||||
Operating Income (Loss) | 62,517,000 | 25,770,000 | 31,437,000 | ||||||||
Derivative gains (losses), net | 0 | 0 | 0 | ||||||||
Foreign currency gains (losses), net | -3,335,000 | -167,000 | 84,000 | ||||||||
Other, net | -38,000 | 0 | -1,000 | ||||||||
Income (Loss) from Equity Method Investments | 6,673,000 | -7,626,000 | -3,310,000 | ||||||||
Segment Profit (Loss) | 65,817,000 | 17,977,000 | 28,210,000 | ||||||||
Payments to Acquire Property, Plant, and Equipment | 58,481,000 | 37,360,000 | 28,818,000 | ||||||||
Property, Plant and Equipment, Gross | 491,079,000 | 481,421,000 | 491,079,000 | 481,421,000 | 491,653,000 | ||||||
Accumulated depreciation | 159,532,000 | 147,698,000 | 159,532,000 | 147,698,000 | 127,112,000 | ||||||
Property, Plant and Equipment, Net In Service | 331,547,000 | 333,723,000 | 331,547,000 | 333,723,000 | 364,541,000 | ||||||
Construction in progress | 27,415,000 | 28,855,000 | 27,415,000 | 28,855,000 | 11,122,000 | ||||||
Net property and equipment | 358,962,000 | 362,578,000 | 358,962,000 | 362,578,000 | 375,663,000 | ||||||
Investments, at Equity, and Advances to 50% or Less Owned Companies | 103,688,000 | 55,411,000 | 103,688,000 | 55,411,000 | 53,844,000 | ||||||
Inventories | 2,536,000 | 2,279,000 | 2,536,000 | 2,279,000 | 2,623,000 | ||||||
Goodwill | 2,573,000 | 2,766,000 | 2,573,000 | 2,766,000 | 2,759,000 | ||||||
Intangible Assets | 6,483,000 | 7,568,000 | 6,483,000 | 7,568,000 | 9,214,000 | ||||||
Other current and long-term assets, excluding cash and near cash assets | 99,335,000 | 69,267,000 | 99,335,000 | 69,267,000 | 75,661,000 | ||||||
Total Assets | 573,577,000 | 499,869,000 | 573,577,000 | 499,869,000 | 519,764,000 | ||||||
Operating Segments [Member] | Shipping Services [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating Revenues | 214,316,000 | 194,184,000 | 180,036,000 | ||||||||
Operating Expenses | 112,771,000 | 117,283,000 | 112,125,000 | ||||||||
Administrative and general | 24,518,000 | 22,073,000 | 22,553,000 | ||||||||
Depreciation and amortization | 28,420,000 | 31,299,000 | 30,635,000 | ||||||||
Total costs and expenses | 165,709,000 | 170,655,000 | 165,313,000 | ||||||||
Gains on Asset Dispositions and Impairments, Net | 159,000 | 240,000 | 3,128,000 | ||||||||
Operating Income (Loss) | 48,766,000 | 23,769,000 | 17,851,000 | ||||||||
Derivative gains (losses), net | 0 | 0 | 0 | ||||||||
Foreign currency gains (losses), net | -40,000 | -14,000 | 6,000 | ||||||||
Other, net | -3,630,000 | 760,000 | 7,452,000 | ||||||||
Income (Loss) from Equity Method Investments | -661,000 | -2,945,000 | -4,148,000 | ||||||||
Segment Profit (Loss) | 44,435,000 | 21,570,000 | 21,161,000 | ||||||||
Payments to Acquire Property, Plant, and Equipment | 199,602,000 | 43,713,000 | 31,235,000 | ||||||||
Property, Plant and Equipment, Gross | 453,862,000 | 498,951,000 | 453,862,000 | 498,951,000 | 506,054,000 | ||||||
Accumulated depreciation | 213,072,000 | 223,667,000 | 213,072,000 | 223,667,000 | 198,943,000 | ||||||
Property, Plant and Equipment, Net In Service | 240,790,000 | 275,284,000 | 240,790,000 | 275,284,000 | 307,111,000 | ||||||
Construction in progress | 201,554,000 | 11,324,000 | 201,554,000 | 11,324,000 | 29,972,000 | ||||||
Net property and equipment | 442,344,000 | 286,608,000 | 442,344,000 | 286,608,000 | 337,083,000 | ||||||
Investments, at Equity, and Advances to 50% or Less Owned Companies | 222,420,000 | 197,145,000 | 222,420,000 | 197,145,000 | 67,023,000 | ||||||
Inventories | 1,030,000 | 1,329,000 | 1,030,000 | 1,329,000 | 1,728,000 | ||||||
Goodwill | 1,852,000 | 1,852,000 | 1,852,000 | 1,852,000 | 1,852,000 | ||||||
Intangible Assets | 292,000 | 859,000 | 292,000 | 859,000 | 1,410,000 | ||||||
Other current and long-term assets, excluding cash and near cash assets | 23,910,000 | 15,097,000 | 23,910,000 | 15,097,000 | 14,183,000 | ||||||
Total Assets | 691,848,000 | 502,890,000 | 691,848,000 | 502,890,000 | 423,279,000 | ||||||
Operating Segments [Member] | Illinois Corn Processing Llc [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating Revenues | 236,293,000 | 193,682,000 | 188,650,000 | ||||||||
Operating Expenses | 187,849,000 | 184,649,000 | 183,442,000 | ||||||||
Administrative and general | 2,177,000 | 2,031,000 | 1,920,000 | ||||||||
Depreciation and amortization | 4,119,000 | 5,797,000 | 5,757,000 | ||||||||
Total costs and expenses | 194,145,000 | 192,477,000 | 191,119,000 | ||||||||
Gains on Asset Dispositions and Impairments, Net | 0 | 0 | 0 | ||||||||
Operating Income (Loss) | 42,148,000 | 1,205,000 | -2,469,000 | ||||||||
Derivative gains (losses), net | -3,777,000 | -2,078,000 | -856,000 | ||||||||
Foreign currency gains (losses), net | 0 | 0 | 0 | ||||||||
Other, net | 660,000 | 0 | 0 | ||||||||
Income (Loss) from Equity Method Investments | 0 | 0 | 6,154,000 | ||||||||
Segment Profit (Loss) | 39,031,000 | -873,000 | 2,829,000 | ||||||||
Payments to Acquire Property, Plant, and Equipment | 3,108,000 | 1,115,000 | 96,000 | ||||||||
Property, Plant and Equipment, Gross | 47,256,000 | 44,166,000 | 47,256,000 | 44,166,000 | 43,789,000 | ||||||
Accumulated depreciation | 15,488,000 | 11,390,000 | 15,488,000 | 11,390,000 | 5,679,000 | ||||||
Property, Plant and Equipment, Net In Service | 31,768,000 | 32,776,000 | 31,768,000 | 32,776,000 | 38,110,000 | ||||||
Construction in progress | 718,000 | 738,000 | 718,000 | 738,000 | 0 | ||||||
Net property and equipment | 32,486,000 | 33,514,000 | 32,486,000 | 33,514,000 | 38,110,000 | ||||||
Investments, at Equity, and Advances to 50% or Less Owned Companies | 0 | 0 | 0 | 0 | 0 | ||||||
Inventories | 11,170,000 | 16,172,000 | 11,170,000 | 16,172,000 | 11,770,000 | ||||||
Goodwill | 0 | 0 | 0 | 0 | 0 | ||||||
Intangible Assets | 0 | 7,000 | 0 | 7,000 | 93,000 | ||||||
Other current and long-term assets, excluding cash and near cash assets | 11,538,000 | 5,409,000 | 11,538,000 | 5,409,000 | 6,533,000 | ||||||
Total Assets | 55,194,000 | 55,102,000 | 55,194,000 | 55,102,000 | 56,506,000 | ||||||
Operating Segments [Member] | Other Segments [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating Revenues | 89,736,000 | 79,532,000 | 195,731,000 | ||||||||
Operating Expenses | 72,644,000 | 75,254,000 | 175,957,000 | ||||||||
Administrative and general | 25,137,000 | 6,296,000 | 23,824,000 | ||||||||
Depreciation and amortization | 1,329,000 | 378,000 | 2,874,000 | ||||||||
Total costs and expenses | 99,110,000 | 81,928,000 | 202,655,000 | ||||||||
Gains on Asset Dispositions and Impairments, Net | -1,077,000 | 1,907,000 | -1,527,000 | ||||||||
Operating Income (Loss) | -10,451,000 | -489,000 | -8,451,000 | ||||||||
Derivative gains (losses), net | 270,000 | 210,000 | 910,000 | ||||||||
Foreign currency gains (losses), net | -155,000 | -342,000 | 2,000 | ||||||||
Other, net | -8,153,000 | 12,000 | 0 | ||||||||
Income (Loss) from Equity Method Investments | -171,000 | 4,313,000 | -9,674,000 | ||||||||
Segment Profit (Loss) | -18,660,000 | 3,704,000 | -17,213,000 | ||||||||
Payments to Acquire Property, Plant, and Equipment | 148,000 | 385,000 | 6,576,000 | ||||||||
Property, Plant and Equipment, Gross | 3,613,000 | 3,967,000 | 3,613,000 | 3,967,000 | 8,276,000 | ||||||
Accumulated depreciation | 3,249,000 | 662,000 | 3,249,000 | 662,000 | 398,000 | ||||||
Property, Plant and Equipment, Net In Service | 364,000 | 3,305,000 | 364,000 | 3,305,000 | 7,878,000 | ||||||
Construction in progress | 234,000 | 113,000 | 234,000 | 113,000 | 3,040,000 | ||||||
Net property and equipment | 598,000 | 3,418,000 | 598,000 | 3,418,000 | 10,918,000 | ||||||
Investments, at Equity, and Advances to 50% or Less Owned Companies | 42,613,000 | 89,137,000 | 42,613,000 | 89,137,000 | 84,863,000 | ||||||
Inventories | 2,477,000 | 1,520,000 | 2,477,000 | 1,520,000 | 2,887,000 | ||||||
Goodwill | 44,967,000 | 0 | 44,967,000 | 0 | 0 | ||||||
Intangible Assets | 24,035,000 | 339,000 | 24,035,000 | 339,000 | 502,000 | ||||||
Other current and long-term assets, excluding cash and near cash assets | 71,678,000 | 47,584,000 | 71,678,000 | 47,584,000 | 72,123,000 | ||||||
Total Assets | 186,368,000 | 141,998,000 | 186,368,000 | 141,998,000 | 171,293,000 | ||||||
Operating Segments [Member] | Corporate And Eliminations [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating Revenues | -4,045,000 | -3,002,000 | -2,498,000 | ||||||||
Operating Expenses | -3,902,000 | -2,887,000 | -2,331,000 | ||||||||
Administrative and general | 38,816,000 | 35,259,000 | 43,269,000 | ||||||||
Depreciation and amortization | 3,901,000 | 3,159,000 | 2,589,000 | ||||||||
Total costs and expenses | 38,815,000 | 35,531,000 | 43,527,000 | ||||||||
Gains on Asset Dispositions and Impairments, Net | -3,306,000 | 141,000 | -156,000 | ||||||||
Operating Income (Loss) | -46,166,000 | -38,392,000 | -46,181,000 | ||||||||
Derivative gains (losses), net | -224,000 | -6,538,000 | -2,623,000 | ||||||||
Foreign currency gains (losses), net | -1,430,000 | -619,000 | 462,000 | ||||||||
Other, net | -71,000 | -189,000 | -305,000 | ||||||||
Income (Loss) from Equity Method Investments | 0 | 0 | 0 | ||||||||
Payments to Acquire Property, Plant, and Equipment | 15,785,000 | 1,811,000 | 3,847,000 | ||||||||
Property, Plant and Equipment, Gross | 30,161,000 | 31,039,000 | 30,161,000 | 31,039,000 | 30,442,000 | ||||||
Accumulated depreciation | 10,936,000 | 11,323,000 | 10,936,000 | 11,323,000 | 9,107,000 | ||||||
Property, Plant and Equipment, Net In Service | 19,225,000 | 19,716,000 | 19,225,000 | 19,716,000 | 21,335,000 | ||||||
Construction in progress | 144,000 | 0 | 144,000 | 0 | 74,000 | ||||||
Net property and equipment | 19,369,000 | 19,716,000 | 19,369,000 | 19,716,000 | 21,409,000 | ||||||
Investments, at Equity, and Advances to 50% or Less Owned Companies | 0 | 0 | 0 | 0 | 0 | ||||||
Inventories | 0 | 0 | 0 | 0 | 0 | ||||||
Goodwill | 0 | 0 | 0 | 0 | 0 | ||||||
Intangible Assets | 0 | 0 | 0 | 0 | 0 | ||||||
Other current and long-term assets, excluding cash and near cash assets | 18,330,000 | 28,785,000 | 18,330,000 | 28,785,000 | 33,393,000 | ||||||
Intersegment Eliminations [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating Revenues | 0 | 0 | 0 | ||||||||
Intersegment Eliminations [Member] | Offshore Marine Services [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating Revenues | -183,000 | 115,000 | 110,000 | ||||||||
Intersegment Eliminations [Member] | Inland River Services [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating Revenues | -3,862,000 | 2,887,000 | 2,152,000 | ||||||||
Intersegment Eliminations [Member] | Shipping Services [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating Revenues | 0 | 0 | 108,000 | ||||||||
Intersegment Eliminations [Member] | Illinois Corn Processing Llc [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating Revenues | 0 | 0 | 0 | ||||||||
Intersegment Eliminations [Member] | Other Segments [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating Revenues | 0 | 0 | 128,000 | ||||||||
Intersegment Eliminations [Member] | Corporate And Eliminations [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating Revenues | 4,045,000 | -3,002,000 | -2,498,000 | ||||||||
Segment Reconciling Items [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Other Income (Expense) not included in Segment Profit | -4,790,000 | 21,322,000 | 7,800,000 | ||||||||
Less Equity Earnings included in Segment Profit | -16,309,000 | -7,264,000 | 5,764,000 | ||||||||
Cash and near cash assets | 786,644,000 | 825,641,000 | 786,644,000 | 825,641,000 | 493,786,000 | ||||||
Assets of Disposal Group, Including Discontinued Operation | $0 | $0 | $948,877,000 |
Major_Customers_And_Segment_In3
Major Customers And Segment Information (Revenues Attributed By Geographical Region) (Details) (USD $) | 3 Months Ended | 12 Months Ended | ||||||||||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Segment Reporting Information [Line Items] | ||||||||||||
Operating Revenues | $342,217 | $338,936 | $328,224 | $310,017 | $327,861 | $336,784 | $315,563 | $267,064 | $1,319,394 | $1,247,272 | $1,308,297 | |
Foreign Operation [Member] | ||||||||||||
Segment Reporting Information [Line Items] | ||||||||||||
Percentage of Operating Revenues | 29.84% | 32.25% | 37.04% | |||||||||
UNITED STATES | ||||||||||||
Segment Reporting Information [Line Items] | ||||||||||||
Operating Revenues | 925,750 | 845,056 | 823,693 | |||||||||
Africa Primarily West Africa [Member] | ||||||||||||
Segment Reporting Information [Line Items] | ||||||||||||
Operating Revenues | 70,743 | 79,991 | 75,484 | |||||||||
Europe Primarily North Sea [Member] | ||||||||||||
Segment Reporting Information [Line Items] | ||||||||||||
Operating Revenues | 112,644 | 101,834 | 107,766 | |||||||||
Asia [Member] | ||||||||||||
Segment Reporting Information [Line Items] | ||||||||||||
Operating Revenues | 22,393 | 26,203 | 21,039 | |||||||||
Middle East [Member] | ||||||||||||
Segment Reporting Information [Line Items] | ||||||||||||
Operating Revenues | 47,205 | 51,930 | 49,941 | |||||||||
Brazil, Mexico Central And South America [Member] | ||||||||||||
Segment Reporting Information [Line Items] | ||||||||||||
Operating Revenues | 140,460 | 142,258 | 229,986 | |||||||||
Other Countries [Member] | ||||||||||||
Segment Reporting Information [Line Items] | ||||||||||||
Operating Revenues | $199 | $0 | $388 |
Major_Customers_And_Segment_In4
Major Customers And Segment Information (Property And Equipment Based Upon The Assets' Physical Location) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | |||
Segment Reporting Information [Line Items] | |||
Net property and equipment | $1,502,673 | $1,476,335 | $1,584,876 |
UNITED STATES | |||
Segment Reporting Information [Line Items] | |||
Net property and equipment | 1,120,765 | 1,094,370 | 1,158,038 |
Africa Primarily West Africa [Member] | |||
Segment Reporting Information [Line Items] | |||
Net property and equipment | 82,495 | 73,137 | 77,860 |
Europe Primarily North Sea [Member] | |||
Segment Reporting Information [Line Items] | |||
Net property and equipment | 75,382 | 93,713 | 97,631 |
Asia [Member] | |||
Segment Reporting Information [Line Items] | |||
Net property and equipment | 19,807 | 21,485 | 25,305 |
Middle East [Member] | |||
Segment Reporting Information [Line Items] | |||
Net property and equipment | 64,791 | 61,134 | 99,863 |
Brazil, Mexico Central And South America [Member] | |||
Segment Reporting Information [Line Items] | |||
Net property and equipment | $139,433 | $132,496 | $126,179 |
Discountinued_Operations_Disco2
Discountinued Operations Discontinued Operations (Narrative) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Millions, except Per Share data, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||||||||
Income (Loss) from Discontinued Operations, Net of Tax, Per Diluted Share | $0 | $0 | $0 | $0 | $0 | $0 | $0 | ($0.51) | $0 | ($0.50) | $1.73 |
SES Business [Member] | |||||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||||||||
Proceeds from Divestiture of Businesses | $99.90 | ||||||||||
Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax | 1 | 18.6 | |||||||||
Income (Loss) from Discontinued Operations, Net of Tax, Per Diluted Share | $0.90 | ||||||||||
Goodwill, Other Changes | 8 | ||||||||||
SEI [Member] | |||||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||||||||
Proceeds from Divestiture of Businesses | 15.1 | ||||||||||
Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax | 0.1 | 7.1 | |||||||||
Income (Loss) from Discontinued Operations, Net of Tax, Per Diluted Share | $0.34 | ||||||||||
Era Group [Member] | |||||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||||||||
Liability for Uncertain Tax Positions, Current | $10.10 | $10.10 |
Discountinued_Operations_Disco3
Discountinued Operations Discontinued Operations (Summarized Selected Operating Results) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||||||||
Operating Revenues | $342,217 | $338,936 | $328,224 | $310,017 | $327,861 | $336,784 | $315,563 | $267,064 | $1,319,394 | $1,247,272 | $1,308,297 |
Administrative and general | 164,938 | 141,348 | 166,743 | ||||||||
Depreciation and amortization | 131,819 | 134,518 | 131,667 | ||||||||
Total costs and expenses | 1,206,129 | 1,184,737 | 1,275,879 | ||||||||
Gains on Asset Dispositions and Impairments, Net | 51,978 | 37,507 | 23,987 | ||||||||
Operating Income | 57,416 | 50,870 | 32,707 | 24,250 | 30,307 | 51,508 | 19,254 | -1,027 | 165,243 | 100,042 | 56,405 |
Nonoperating Income (Expense) | -2,008 | -32,410 | -1,833 | ||||||||
Income Tax Expense (Benefit) | 55,197 | 26,747 | 24,181 | ||||||||
Income (Loss) from Equity Method Investments | 16,309 | 7,264 | -5,764 | ||||||||
Net Income | 49,329 | 33,778 | 27,525 | 13,715 | 9,120 | 30,769 | 19,296 | -21,361 | 124,347 | 37,824 | 60,459 |
SES Business [Member] | |||||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||||||||
Operating Revenues | 0 | 22,387 | |||||||||
Operating Expenses | 0 | 18,234 | |||||||||
Administrative and general | 0 | 4,624 | |||||||||
Depreciation and amortization | 0 | 1,428 | |||||||||
Total costs and expenses | 0 | 24,286 | |||||||||
Gains on Asset Dispositions and Impairments, Net | 0 | -71 | |||||||||
Operating Income | 0 | -1,970 | |||||||||
Nonoperating Income (Expense) | -1,537 | 24,971 | |||||||||
Income Tax Expense (Benefit) | -538 | 6,342 | |||||||||
Income (Loss) from Equity Method Investments | 0 | 301 | |||||||||
Net Income | -999 | 16,960 | |||||||||
SEI [Member] | |||||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||||||||
Operating Revenues | 0 | 515,468 | |||||||||
Operating Expenses | 0 | 503,294 | |||||||||
Administrative and general | 0 | 5,579 | |||||||||
Depreciation and amortization | 0 | -3 | |||||||||
Total costs and expenses | 0 | 508,870 | |||||||||
Operating Income | 0 | 6,598 | |||||||||
Nonoperating Income (Expense) | -143 | 8,083 | |||||||||
Income Tax Expense (Benefit) | -50 | 4,856 | |||||||||
Net Income | -93 | 9,825 | |||||||||
Era Group [Member] | |||||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||||||||
Operating Revenues | 22,892 | 272,921 | |||||||||
Operating Expenses | 14,076 | 167,195 | |||||||||
Administrative and general | 2,653 | 34,785 | |||||||||
Depreciation and amortization | 3,875 | 42,502 | |||||||||
Total costs and expenses | 20,604 | 244,482 | |||||||||
Gains on Asset Dispositions and Impairments, Net | 548 | 3,612 | |||||||||
Operating Income | 2,836 | 32,051 | |||||||||
Nonoperating Income (Expense) | -1,316 | -9,478 | |||||||||
Income Tax Expense (Benefit) | 10,818 | 7,998 | |||||||||
Income (Loss) from Equity Method Investments | 65 | -5,528 | |||||||||
Net Income | -9,233 | 9,047 | |||||||||
Consolidation, Eliminations [Member] | |||||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||||||||
Operating Revenues | 0 | -109,941 | |||||||||
Operating Expenses | 0 | -109,938 | |||||||||
Administrative and general | 0 | -3 | |||||||||
Total costs and expenses | 0 | -109,941 | |||||||||
Operating Income | $0 | $0 |
Supplemental_Information_For_S2
Supplemental Information For Statements Of Cash Flows (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Supplemental Cash Flow Information [Abstract] | |||
Income taxes paid | $52,348 | $4,285 | $24,378 |
Income taxes refunded | 2,055 | 2,739 | 11,317 |
Interest paid, excluding capitalized interest | 24,719 | 32,388 | 46,457 |
Distribution of Era Group stock to shareholders | 0 | 415,209 | 0 |
Company financed purchase of noncontrolling interests | 0 | 0 | 48,064 |
Company financed sale of vessels | 45,305 | 10,263 | 48,848 |
Contribution of assets to business ventures | 0 | 0 | 15,123 |
Windcat Acquisition | $0 | $0 | $585 |
Quarterly_Financial_Informatio2
Quarterly Financial Information (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Quarterly Financial Data [Abstract] | |||||||||||
Operating Revenues | $342,217 | $338,936 | $328,224 | $310,017 | $327,861 | $336,784 | $315,563 | $267,064 | $1,319,394 | $1,247,272 | $1,308,297 |
Operating Income (Loss) | 57,416 | 50,870 | 32,707 | 24,250 | 30,307 | 51,508 | 19,254 | -1,027 | 165,243 | 100,042 | 56,405 |
Income (Loss) from Continuing Operations | 49,329 | 33,778 | 27,525 | 13,715 | 9,120 | 30,769 | 19,296 | -11,036 | 124,347 | 48,149 | 24,627 |
Income (Loss) from Discontinued Operations, Net of Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -10,325 | 0 | -10,325 | 35,832 |
Net Income | 49,329 | 33,778 | 27,525 | 13,715 | 9,120 | 30,769 | 19,296 | -21,361 | 124,347 | 37,824 | 60,459 |
Income (Loss) from Continuing Operations Attributable to Parent | -40,093 | -27,463 | -21,067 | -11,509 | -8,396 | -30,291 | -19,271 | 10,763 | -100,132 | -47,195 | -25,343 |
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to SEACOR Holdings Inc. | 0 | 0 | 0 | 0 | 0 | 0 | -10,225 | 0 | -10,225 | 35,872 | |
Net Income attributable to SEACOR Holdings Inc. | ($40,093) | ($27,463) | ($21,067) | ($11,509) | ($8,396) | ($30,291) | ($19,271) | $20,988 | ($100,132) | ($36,970) | ($61,215) |
Income (Loss) from Continuing Operations, Per Basic Share | $2.22 | $1.43 | $1.05 | $0.57 | $0.42 | $1.52 | $0.97 | ($0.55) | $5.18 | $2.37 | $1.24 |
Income (Loss) from Discontinued Operations, Net of Tax, Per Basic Share | $0 | $0 | $0 | $0 | $0 | $0 | $0 | ($0.51) | $0 | ($0.51) | $1.76 |
Basic Earnings Per Common Share of SEACOR Holdings Inc. | $2.22 | $1.43 | $1.05 | $0.57 | $0.42 | $1.52 | $0.97 | ($1.06) | $5.18 | $1.86 | $3 |
Income (Loss) from Continuing Operations, Per Diluted Share | ($1.85) | ($1.28) | ($0.98) | ($0.56) | ($0.41) | ($1.36) | ($0.91) | $0.55 | ($4.71) | ($2.32) | ($1.22) |
Income (Loss) from Discontinued Operations, Net of Tax, Per Diluted Share | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0.51 | $0 | $0.50 | ($1.73) |
Diluted Earnings Per Common Share of SEACOR Holdings Inc. | ($1.85) | ($1.28) | ($0.98) | ($0.56) | ($0.41) | ($1.36) | ($0.91) | $1.06 | ($4.71) | ($1.82) | ($2.95) |
Valuation_And_Qualifying_Accou1
Valuation And Qualifying Accounts (Details) (USD $) | 12 Months Ended | |||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Valuation and Qualifying Accounts Disclosure [Line Items] | ||||
Inventory Valuation Reserves | $0 | $921,000 | $1,327,000 | $0 |
Balance Beginning of Year | 1,162,000 | 1,201,000 | 2,355,000 | |
Bad debt expense (income) | 2,618,000 | 170,000 | 1,311,000 | |
Valuation Allowances and Reserves, Charged to Cost and Expense | -921,000 | -406,000 | 971,000 | |
Deductions | -1,279,000 | -209,000 | -2,736,000 | |
Valuation Allowances and Reserves, Reserves of Businesses Acquired | 661,000 | 0 | 271,000 | |
Balance End of Year | 3,162,000 | 1,162,000 | 1,201,000 | |
Inventory Valuation Reserve [Member] | ||||
Valuation and Qualifying Accounts Disclosure [Line Items] | ||||
Deductions | 0 | 0 | 0 | |
Valuation Allowances and Reserves, Reserves of Businesses Acquired | $0 | $0 | $356,000 |