Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2016 | Mar. 28, 2017 | Jun. 30, 2016 | |
Document And Entity Information [Abstract] | |||
Entity Registrant Name | SEACOR HOLDINGS INC /NEW/ | ||
Entity Central Index Key | 859,598 | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Filer Category | Accelerated Filer | ||
Document Type | 10-K | ||
Document Period End Date | Dec. 31, 2016 | ||
Document Fiscal Year Focus | 2,016 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false | ||
Entity Common Stock, Shares Outstanding | 17,405,946 | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Public Float | $ 914,009,247 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Current Assets: | ||
Cash and cash equivalents | $ 399,644 | $ 530,009 |
Restricted cash | 3,711 | 0 |
Marketable securities | 116,276 | 138,200 |
Receivables: | ||
Trade, net of allowance for doubtful accounts of $5,201 and $2,483 in 2016 and 2015, respectively | 162,880 | 159,076 |
Other | 56,287 | 27,217 |
Inventories | 16,773 | 24,768 |
Prepaid expenses and other | 7,230 | 8,627 |
Total current assets | 762,801 | 887,897 |
Property and Equipment: | ||
Historical cost | 2,194,023 | 2,123,201 |
Accumulated depreciation | 1,008,867 | 994,181 |
Property, Plant and Equipment, Net In Service | 1,185,156 | 1,129,020 |
Construction in progress | 370,512 | 454,605 |
Net property and equipment | 1,555,668 | 1,583,625 |
Investments, at Equity, and Advances to 50% or Less Owned Companies | 313,772 | 331,103 |
Construction Reserve Funds | 153,962 | 255,408 |
Goodwill | 32,758 | 52,340 |
Intangible Assets, Net | 20,078 | 26,392 |
Other Assets | 23,282 | 48,654 |
Total Assets | 2,862,321 | 3,185,419 |
Current Liabilities: | ||
Current portion of long-term debt | 183,602 | 35,531 |
Accounts payable and accrued expenses | 90,702 | 71,952 |
Accrued wages and benefits | 17,989 | 21,938 |
Accrued interest | 5,503 | 5,774 |
Accrued income taxes | 5,835 | 5,801 |
Short sales of marketable securities | 1,274 | 4,827 |
Accrued capital, repair and maintenance expenditures | 23,665 | 11,585 |
Deferred revenues | 6,953 | 6,953 |
Other current liabilities | 34,426 | 35,799 |
Total current liabilities | 369,949 | 200,160 |
Long-Term Debt | 848,771 | 1,034,859 |
Exchange Option Liability on Subsidiary Convertible Senior Notes | 19,436 | 5,611 |
Deferred Income Taxes | 288,601 | 389,988 |
Deferred Gains and Other Liabilities | 139,296 | 163,862 |
Total liabilities | 1,666,053 | 1,794,480 |
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; 37,939,032 and 37,684,829 shares issued in 2016 and 2015, respectively | 379 | 377 |
Additional paid-in capital | 1,518,635 | 1,505,942 |
Retained earnings | 910,723 | 1,126,620 |
Shares held in treasury of 20,538,327 and 20,529,929 in 2016 and 2015, respectively, at cost | 1,357,331 | 1,356,499 |
Accumulated other comprehensive loss, net of tax | (11,514) | (5,620) |
Stockholders' equity attributable to SEACOR Holdings Inc. | 1,060,892 | 1,270,820 |
Noncontrolling interests in subsidiaries | 135,376 | 120,119 |
Total equity | 1,196,268 | 1,390,939 |
Liabilities and stockholders' equity, total | $ 2,862,321 | $ 3,185,419 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) | Dec. 31, 2016 | Dec. 31, 2015 |
Statement of Financial Position [Abstract] | ||
Trade receivables, allowance for doubtful accounts | $ 8,347,300.39 | $ 2,483,172.89 |
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 | 37,939,032 | 37,684,829 |
Treasury stock, shares | 20,538,327 | 20,529,929 |
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 Inco
Consolidated Statements Of Income - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Income Statement [Abstract] | |||
Operating Revenues | $ 830,985 | $ 1,054,736 | $ 1,319,394 |
Costs and Expenses: | |||
Operating | 597,813 | 748,605 | 909,372 |
Administrative and general | 138,581 | 156,611 | 164,938 |
Depreciation and amortization | 124,933 | 125,987 | 131,819 |
Total costs and expenses | 861,327 | 1,031,203 | 1,206,129 |
Gains (Losses) on Asset Dispositions and Impairments, Net | (142,205) | (2,408) | 51,978 |
Operating Income (Loss) | (172,547) | 21,125 | 165,243 |
Other Income (Expense): | |||
Interest income | 19,339 | 20,020 | 19,662 |
Interest expense | (49,726) | (43,297) | (43,632) |
Debt extinguishment gains (losses), net | 5,184 | (28,497) | 0 |
Marketable security gains (losses), net | (32,199) | (74) | 28,760 |
Derivative losses, net | (10,225) | (2,096) | (3,902) |
Foreign currency losses, net | (1,868) | (4,752) | (6,335) |
Other, net | (20,206) | 6,773 | 3,439 |
Nonoperating Income (Expense) | (89,701) | (51,923) | (2,008) |
Income (Loss) Before Income Tax Expense (Benefit) and Equity in Earnings (Losses) of 50% or Less Owned Companies | (262,248) | (30,798) | 163,235 |
Income Tax Expense (Benefit): | |||
Current | 1,894 | 26,568 | 72,261 |
Deferred | (95,724) | (37,930) | (17,064) |
Income Tax Expense (Benefit) | (93,830) | (11,362) | 55,197 |
Income (Loss) Before Equity in Earnings (Losses) of 50% or Less Owned Companies | (168,418) | (19,436) | 108,038 |
Equity in Earnings (Losses) of 50% or Less Owned Companies | (27,354) | (40,414) | 16,309 |
Net Income (Loss) | (195,772) | (59,850) | 124,347 |
Net Income Attributable to Noncontrolling Interests in Subsidiaries | 20,125 | 8,932 | 24,215 |
Net Income (Loss) attributable to SEACOR Holdings Inc. | $ (215,897) | $ (68,782) | $ 100,132 |
Basic Earnings (Loss) Per Common Share of SEACOR Holdings Inc. | $ (12.76) | $ (3.94) | $ 5.18 |
Diluted Earnings (Loss) Per Common Share of SEACOR Holdings Inc. | $ (12.76) | $ (3.94) | $ 4.71 |
Weighted Average Common Shares Outstanding: | |||
Basic Weighted Average Common Shares Outstanding | 16,914,928 | 17,446,137 | 19,336,280 |
Diluted Weighted Average Common Shares Outstanding | 16,914,928 | 17,446,137 | 25,765,325 |
Consolidated Statements Of Chan
Consolidated Statements Of Changes In Equity - USD ($) $ in Thousands | Total | Common Stock [Member] | Additional Paid-In Capital [Member] | Retained Earnings [Member] | Shares Held In Treasury [Member] | Accumulated Other Comprehensive Loss [Member] | Non-Controlling Interests In Subsidiaries [Member] |
Total equity | $ 1,425,428 | $ 372 | $ 1,394,621 | $ 1,095,270 | $ (1,088,219) | $ (1,192) | $ 24,576 |
Issuance of common stock: | |||||||
Employee Stock Purchase Plan | 2,165 | 0 | 0 | 0 | 2,165 | 0 | 0 |
Exercise of stock options | 6,875 | 1 | 6,874 | 0 | 0 | 0 | 0 |
Director stock awards | 210 | 0 | 210 | 0 | 0 | 0 | 0 |
Restricted stock and restricted stock units | (222) | (2) | (199) | 0 | (21) | 0 | 0 |
Purchase of treasury shares | (197,336) | 0 | 0 | 0 | (197,336) | 0 | 0 |
Adjustments to Additional Paid in Capital, Share-based Compensation, Requisite Service Period Recognition | 15,119 | 0 | 15,119 | 0 | 0 | 0 | 0 |
Cancellation of restricted stock | 0 | 0 | 107 | 0 | 107 | 0 | 0 |
Purchase of subsidiary shares from noncontrolling interests, net of tax | (3,110) | 0 | (1,242) | 0 | 0 | 0 | (1,868) |
Issuance of noncontrolling interests | 152,423 | 0 | 74,810 | 0 | 0 | 0 | 77,613 |
Dividends paid to noncontrolling interests | 6,070 | 0 | 0 | 0 | 0 | 0 | 6,070 |
Comprehensive income: | |||||||
Net Income attributable to SEACOR Holdings Inc. | 100,132 | 0 | 0 | 0 | 0 | ||
Net Income (Loss) Attributable to Noncontrolling Interest | 24,215 | ||||||
Net Income (Loss) | 124,347 | ||||||
Other Comprehensive Loss, Net of Tax | (2,786) | 0 | 0 | 0 | 0 | (2,313) | (473) |
Total equity | 1,517,487 | 375 | 1,490,698 | 1,195,402 | (1,283,476) | (3,505) | 117,993 |
Employee Stock Purchase Plan | 2,298 | 0 | 0 | 0 | 2,298 | 0 | 0 |
Exercise of stock options | 1,948 | 1 | 1,947 | 0 | 0 | 0 | 0 |
Director stock awards | 234 | 0 | 234 | 0 | 0 | 0 | 0 |
Restricted stock and restricted stock units | (123) | (1) | (145) | 0 | (21) | 0 | 0 |
Purchase of conversion option in convertible debt, net of tax | 1,938 | 0 | 1,938 | 0 | 0 | 0 | 0 |
Purchase of treasury shares | (75,342) | 0 | 0 | 0 | (75,342) | 0 | 0 |
Adjustments to Additional Paid in Capital, Share-based Compensation, Requisite Service Period Recognition | 14,649 | 0 | 14,649 | 0 | 0 | 0 | 0 |
Purchase of subsidiary shares from noncontrolling interests, net of tax | 497 | 0 | 497 | 0 | 0 | 0 | 0 |
Disposition of subsidiary with noncontrolling interests | (1,578) | 0 | 0 | 0 | 0 | 0 | (1,578) |
Issuance of noncontrolling interests | 400 | 0 | 0 | 0 | 0 | 0 | 400 |
Dividends paid to noncontrolling interests | 5,199 | 0 | 0 | 0 | 0 | 0 | 5,199 |
Net Income attributable to SEACOR Holdings Inc. | (68,782) | 0 | 0 | 0 | 0 | ||
Net Income (Loss) Attributable to Noncontrolling Interest | 8,932 | ||||||
Net Income (Loss) | (59,850) | ||||||
Other Comprehensive Loss, Net of Tax | (2,544) | 0 | 0 | 0 | 0 | (2,115) | (429) |
Total equity | 1,390,939 | 377 | 1,505,942 | 1,126,620 | (1,356,499) | (5,620) | 120,119 |
Employee Stock Purchase Plan | 1,726 | 0 | 0 | 0 | 1,726 | 0 | 0 |
Exercise of stock options | 4,368 | 1 | 4,367 | 0 | 0 | 0 | 0 |
Director stock awards | 186 | 0 | 186 | 0 | 0 | 0 | 0 |
Restricted stock and restricted stock units | (1,179) | (1) | (1,180) | 0 | 0 | 0 | 0 |
Purchase of conversion option in convertible debt, net of tax | (4,793) | 0 | (4,793) | 0 | 0 | 0 | 0 |
Purchase of treasury shares | (2,396) | 0 | 0 | 0 | (2,396) | 0 | 0 |
Adjustments to Additional Paid in Capital, Share-based Compensation, Requisite Service Period Recognition | 13,951 | 0 | 13,951 | 0 | 0 | 0 | 0 |
Cancellation of restricted stock | 0 | 0 | 162 | 0 | 162 | 0 | 0 |
Dividends paid to noncontrolling interests | 3,753 | 0 | 0 | 0 | 0 | 0 | 3,753 |
Net Income attributable to SEACOR Holdings Inc. | (215,897) | 0 | 0 | 0 | 0 | ||
Net Income (Loss) Attributable to Noncontrolling Interest | 20,125 | ||||||
Net Income (Loss) | (195,772) | ||||||
Other Comprehensive Loss, Net of Tax | (7,009) | 0 | 0 | 0 | 0 | (5,894) | (1,115) |
Total equity | $ 1,196,268 | $ 379 | $ 1,518,635 | $ 910,723 | $ (1,357,331) | $ (11,514) | $ 135,376 |
Consolidated Statements Of Cash
Consolidated Statements Of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Cash Flows from Operating Activities: | |||
Net Income (Loss) | $ (195,772) | $ (59,850) | $ 124,347 |
Adjustments to reconcile income to net cash provided by operating activities: | |||
Depreciation and amortization | 124,933 | 125,987 | 131,819 |
Amortization of deferred gains on sale and leaseback transactions | 23,272 | 22,521 | 18,847 |
Debt discount and issuance cost amortization, net | 23,393 | 19,785 | 18,542 |
Amortization of share awards | 13,951 | 14,649 | 15,119 |
Director stock awards | 190 | 242 | 211 |
Bad debt expense | 7,054 | 842 | 2,618 |
(Gains) Losses on asset dispositions and impairments, net | (142,205) | (2,408) | 51,978 |
Debt extinguishment (gains) losses, net | 5,184 | (28,497) | 0 |
Marketable security (gains) losses, net | (32,199) | (74) | 28,760 |
Purchases of marketable securities | 22,997 | 72,080 | 15,810 |
Proceeds from sale of marketable securities | 9,169 | 91,333 | 6,802 |
Derivative losses, net | (10,225) | (2,096) | (3,902) |
Cash settlements on derivative transactions, net | 1,804 | (359) | 5,703 |
Foreign currency losses, net | (1,868) | (4,752) | (6,335) |
Deferred income tax benefit | (95,724) | (37,930) | (17,064) |
Equity in (earnings) losses of 50% or less owned companies, net of tax | 27,354 | 40,414 | (16,309) |
Dividends received from 50% or less owned companies | 5,939 | 15,249 | 9,290 |
Other, net | 20,590 | 0 | 7,286 |
Changes in operating assets and liabilities: | |||
(Increase) decrease in receivables | 24,205 | (74,830) | (7,514) |
Increase in prepaid expenses and other assets | 1,012 | 11,220 | 4,696 |
Increase (decrease) in accounts payable, accrued expenses and other liabilities | 2,055 | (46,759) | 16,764 |
Net cash provided by operating activities | 51,155 | 171,157 | 191,382 |
Cash Flows from Investing Activities: | |||
Purchases of property and equipment | 358,413 | 295,930 | 360,637 |
Cash settlements on derivative transactions, net | 373 | 0 | 0 |
Proceeds from disposition of property and equipment | 184,947 | 95,460 | 254,763 |
Investments in and advances to 50% or less owned companies | 24,957 | 56,188 | 90,815 |
Return of investments and advances of 50% or less owned companies | 9,519 | 61,479 | 36,311 |
Net repayments (advances) on revolving credit line to 50% or less owned companies | (2,397) | 3,495 | 0 |
(Issuances of) payments received on third party leases and notes receivable, net | (2,583) | 1,241 | (8,437) |
Net (increase) decrease in restricted cash | 3,436 | (16,435) | 4,260 |
Net (increase) decrease in construction reserve funds and title XI reserve funds | (101,446) | (22,614) | 16,283 |
Business acquisitions, net of cash acquired | 20,539 | 0 | 35,000 |
Net cash used in investing activities | (111,992) | (158,384) | (224,358) |
Cash Flows from Financing Activities: | |||
Payments on long-term debt and capital lease obligations | 195,751 | 233,259 | 35,444 |
Net payments under inventory financing arrangements | 0 | (2,661) | (4,240) |
Proceeds from Issuance of long-term debt, net of offering costs | 137,326 | 400,115 | 26,916 |
Purchase of conversion option in convertible debt | (7,374) | (2,982) | 0 |
Common stock acquired for treasury | 2,396 | 75,342 | 197,336 |
Proceeds and tax benefits from share award plans | 4,911 | 4,094 | 9,240 |
Purchase of subsidiary shares from noncontrolling interests | 0 | 0 | 2,090 |
Issuance of noncontrolling interests, net of issue costs | 0 | 400 | 151,849 |
Dividends paid to noncontrolling interests, net | (3,753) | (5,199) | (6,070) |
Net cash provided by (used in) financing activities | (67,037) | 85,166 | (57,175) |
Effects of Exchange Rate Changes on Cash and Cash Equivalents | (2,491) | (2,113) | (3,101) |
Net Increase (Decrease) in Cash and Cash Equivalents | (130,365) | 95,826 | (93,252) |
Cash and Cash Equivalents, Beginning of Year | 530,009 | 434,183 | 527,435 |
Cash and Cash Equivalents, End of Year | $ 399,644 | $ 530,009 | $ 434,183 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income Statement - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Net Income (Loss) | $ (195,772) | $ (59,850) | $ 124,347 |
Foreign currency translation losses | (10,490) | (3,592) | (4,265) |
Reclassification of foreign currency translation (gains) losses to foreign currency losses, net | 74 | 21 | (165) |
Derivative losses on cash flow hedges | (2,537) | (1,304) | (140) |
Other | (44) | 42 | 28 |
Other Comprehensive Loss, before Tax | (10,183) | (3,683) | (4,031) |
Income tax benefit | 3,174 | 1,139 | 1,245 |
Other Comprehensive Loss, Net of Tax | (7,009) | (2,544) | (2,786) |
Comprehensive Income (Loss) | (202,781) | (62,394) | 121,561 |
Comprehensive Income attributable to Noncontrolling Interests in Subsidiaries | 19,010 | 8,503 | 23,742 |
Comprehensive Income (Loss) attributable to SEACOR Holdings Inc. | (221,791) | (70,897) | 97,819 |
Interest Expense [Member] | |||
Reclassification of derivative losses on cash flow hedges to equity in earnings (losses) of 50% or less owned companies | (18) | 0 | 0 |
Equity Method Investments [Member] | |||
Reclassification of derivative losses on cash flow hedges to equity in earnings (losses) of 50% or less owned companies | $ 2,796 | $ 1,150 | $ 511 |
Nature Of Operations And Accoun
Nature Of Operations And Accounting Policies | 12 Months Ended |
Dec. 31, 2016 | |
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. Certain reclassifications of prior year information have been made to conform to the current year’s reportable segment presentation (see Note 17) as a result of Witt O’Brien’s, LLC (“Witt O’Brien’s”) meeting certain quantitative thresholds in 2016. The Company has identified the following reporting segments: Offshore Marine Services. Offshore Marine Services operates a diverse fleet of support vessels primarily servicing major integrated national and international oil companies, large independent oil and gas exploration and production companies and emerging independent companies. These vessels deliver cargo and personnel to offshore installations; provide field security services; 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, inspection 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 liftboats in the U.S. Gulf of Mexico that primarily support 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 26% , 35% and 40% of consolidated operating revenues in 2016 , 2015 and 2014 , respectively. Inland River Services. Inland River Services operates domestic river transportation equipment used for moving agricultural and industrial commodities and containers 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 liquid tank barge operations on the Magdalena River in Colombia primarily transporting petroleum products and dry-cargo barge operations on the Parana-Paraguay River Waterways in Brazil, Bolivia, Paraguay, Argentina and Uruguay primarily transporting agricultural and industrial commodities. 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 U.S. Inland River Waterways; a broad range of service facilities including machine shop 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 20% , 22% and 19% of consolidated operating revenues in 2016 , 2015 and 2014 , respectively. Shipping Services. Shipping Services operates a diversified fleet of U.S.-flag marine transportation related assets, including its 51% controlling interest (see Note 12) in certain subsidiaries (collectively “SEA-Vista”) that operate 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. 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 28% , 21% and 16% of consolidated operating revenues in 2016 , 2015 and 2014 , 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 and produces non-food grade Corn Oil primarily used for feedstock in biodiesel production. The Company owns a 70% interest in ICP (see Note 12). ICP contributed 21% , 16% and 18% of consolidated operating revenues in 2016 , 2015 and 2014 . Witt O’Brien’s. Witt O’Brien’s provides resilience solutions for key areas of critical infrastructure, including, but not limited to, government, energy, transportation, healthcare and education, in the United States and abroad. Witt O’Brien’s protects and enhances its customers’ enterprise value by strengthening their ability to prepare for, respond to and recover from natural and man-made disasters, including hurricanes, infectious disease, terrorism, cyber breaches, oil spills, shipping incidents and other disruptions. Witt O’Brien’s contributed 5% , 5% and 2% of consolidated operating revenues in 2016 , 2015 and 2014 . Other. The Company also has activities that are referred to and described under Other, which primarily include lending and leasing activities and noncontrolling investments in various other businesses, primarily industrial aviation services businesses in Asia and an agricultural commodity trading and logistics business that is primarily focused on the global origination, trading and merchandising of sugar. 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 (loss) 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 (loss) 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 (loss) 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): 2016 2015 2014 Balance at beginning of year $ 6,953 $ 6,794 $ 6,592 Revenues deferred during the year — 159 202 Balance at end of year $ 6,953 $ 6,953 $ 6,794 As of December 31, 2016 , deferred revenues of $6.8 million 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 May 19, 2012 are subject to creditors’ claims in bankruptcy court. The Company will recognize revenues when reasonably assured of a judgment in its favor. 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 dock and undock 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. Witt O’Brien’s earns revenues primarily from emergency response and debris management incidents, retainer and consulting services. Emergency response and debris management revenues are recognized as services are provided. Revenues from short term remediation services and longer term customer staff augmentation services for remediation and claims management are dependent on the magnitude and number of incidents. Retainer agreements with vessel and facility owners and operators generally have evergreen terms and are typically invoiced on an annual basis. Such retainer fees are generally recognized ratable over the term of the coverage period. Consulting services are performed in accordance with retainer agreements or specific contract terms. Revenues are recognized based on contractual terms, generally on a time and material basis with revenues recognized as the services are provided or on a fixed fee basis with revenues and expenses recognized upon completion of the contract or specific task. 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 related to cash collateral for letters of credit and banking facility requirements. 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, as determined by their market observable prices, with both realized and unrealized gains and losses reported in the accompanying consolidated statements of income (loss) as marketable security gains (losses), 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 (loss) as marketable security gains (losses), net. Long and short marketable security positions are primarily in energy, marine, transportation and other related businesses. Marketable securities are classified as trading securities for financial reporting purposes with gains and losses reported as operating activities in the accompanying consolidated statements of cash flows. The Company’s most significant marketable security position is its investment in 9,177,135 shares of Dorian LPG Ltd. (“Dorian”), a publicly traded company listed on the New York Stock Exchange under the symbol “LPG” (see Note 4). Dorian’s closing share price was $8.21 and $11.77 as of December 31, 2016 and 2015, respectively. The Company’s cost basis in Dorian is $13.66 per share. 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 and petroleum. 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 (loss) as derivative losses, net. Realized and unrealized gains and losses on derivatives designated as fair value hedges are recognized as corresponding increases or decreases in the fair value of the underlying hedged item to the extent they are effective, with any ineffective portion reported in the accompanying consolidated statements of income (loss) 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 (loss) 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 (loss) 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 (loss). Concentrations of Credit Risk. The Company is exposed to concentrations of credit risk associated with its cash and cash equivalents, construction 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. 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, 2016 , 2015 and 2014 , the Company recorded market write-downs of $2.7 million , $3.0 million and $0.4 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, 2016 , 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 and harbor boats 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 Cost (1) Accumulated Depreciation Net Book Value 2016 Offshore Marine Services: Anchor handling towing supply $ 228,857 $ (183,757 ) $ 45,100 Fast support 251,415 (72,599 ) 178,816 Supply 96,774 (58,028 ) 38,746 Standby safety 109,436 (88,020 ) 21,416 Specialty 45,765 (24,063 ) 21,702 Liftboats 104,356 (45,447 ) 58,909 Wind farm utility 60,671 (29,019 ) 31,652 Machinery and spares 32,921 (20,008 ) 12,913 Other (2) 28,564 (19,678 ) 8,886 958,759 (540,619 ) 418,140 Inland River Services: Dry-cargo barges 246,237 (97,602 ) 148,635 Liquid tank barges 16,114 (1,982 ) 14,132 Towboats 14,675 (1,320 ) 13,355 Harbor boats 17,338 (5,715 ) 11,623 Specialty and deck barges 12,292 (4,869 ) 7,423 Terminal and fleeting facilities 94,913 (48,981 ) 45,932 Other (2) 18,145 (6,658 ) 11,487 419,714 (167,127 ) 252,587 Shipping Services: Product tankers - U.S.-flag 546,019 (189,536 ) 356,483 Harbor and offshore tugs - U.S.-flag 72,877 (34,606 ) 38,271 Harbor tugs - Foreign-flag 29,689 (9,480 ) 20,209 Ocean liquid tank barges - U.S.-flag 39,238 (11,604 ) 27,634 Short-sea container\RORO - Foreign-flag 20,954 (6,774 ) 14,180 Other (2) 18,825 (6,004 ) 12,821 727,602 (258,004 ) 469,598 Illinois Corn Processing: Manufacturing facilities 55,028 (23,689 ) 31,339 Land 1,680 — 1,680 56,708 (23,689 ) 33,019 Witt O’Brien’s: Other (2) 1,559 (1,244 ) 315 Corporate and Eliminations: Other (2) 29,681 (18,184 ) 11,497 $ 2,194,023 $ (1,008,867 ) $ 1,185,156 ______________________ (1) Includes property and equipment acquired in business acquisitions at acquisition date fair value, and net of the impact of recognized impairment charges. (2) Includes land and buildings, leasehold improvements, fixed-wing aircraft, vehicles and other property and equipment. Historical Cost (1) Accumulated Depreciation Net Book Value 2015 Offshore Marine Services: Anchor handling towing supply $ 301,707 $ (168,534 ) $ 133,173 Fast support 222,720 (61,515 ) 161,205 Supply 139,315 (80,862 ) 58,453 Standby Safety 141,864 (113,136 ) 28,728 Specialty 46,522 (21,224 ) 25,298 Liftboats 122,764 (36,154 ) 86,610 Wind farm utility 66,950 (26,773 ) 40,177 Machinery and spares 34,116 (19,480 ) 14,636 Other (2) 26,661 (19,284 ) 7,377 1,102,619 (546,962 ) 555,657 Inland River Services: Dry-cargo barges 226,916 (86,068 ) 140,848 Liquid tank barges 61,175 (14,638 ) 46,537 Towboats 67,265 (15,670 ) 51,595 Harbor boats 10,206 (5,136 ) 5,070 Specialty and deck barges 12,293 (3,992 ) 8,301 Terminal and fleeting facilities 90,379 (40,890 ) 49,489 Other (2) 16,910 (4,877 ) 12,033 485,144 (171,271 ) 313,873 Shipping Services: Product tankers - U.S.-flag 271,141 (168,838 ) 102,303 Harbor and offshore tugs - U.S.-flag 72,073 (37,418 ) 34,655 Harbor tugs - Foreign-flag 29,689 (8,291 ) 21,398 Ocean liquid tank barges - U.S.-flag 39,238 (10,175 ) 29,063 Short-sea container\RORO - Foreign-flag 20,954 (5,369 ) 15,585 Other (2) 21,049 (8,985 ) 12,064 454,144 (239,076 ) 215,068 Illinois Corn Processing: Manufacturing facilities 45,576 (19,390 ) 26,186 Land 1,680 — 1,680 47,256 (19,390 ) 27,866 Witt O’Brien’s: Other (2) 3,338 (2,834 ) 504 Corporate and Eliminations: Other (2) 30,700 (14,648 ) 16,052 $ 2,123,201 $ (994,181 ) $ 1,129,020 ______________________ (1) Includes property and equipment acquired in business acquisitions at acquisition date fair value, and net of the impact of recognized impairment charges. (2) Includes land and buildings, leasehold improvements, fixed-wing aircraft, vehicles and other property and equipment. Depreciation expense totaled $122.5 million , $122.9 million and $127.6 million in 2016 , 2015 and 2014 , 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 $18.5 million , $18.5 million and $17.0 million in 2016 , 2015 and 2014 , 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, 2016 , 2015 , and 2014 , the Company recognized amortization expense of $2.5 million , $3.1 million and $4.3 million , respectively. The Company’s intangible assets by type were as follows (in thousands): Trademark/ Tradenames Customer Relationships Software/ Technology Acquired Contractual Rights Total Gross Carrying Value Year Ended December 31, 2014 $ 10,681 $ 48,570 $ 1,652 $ 2,985 $ 63,888 Purchase price adjustments to acquired intangible assets (1,024 ) (2,133 ) — — (3,157 ) Foreign currency translation — — — (78 ) (78 ) Fully amortized intangible assets (4,737 ) (22,700 ) — — (27,437 ) Year Ended December 31, 2015 4,920 23,737 1,652 2,907 33,216 Acquired intangible assets — 1,598 — 5,500 7,098 Foreign currency translation — — — 9 9 Impairment of intangible assets (1,596 ) (8,128 ) (1,220 ) — (10,944 ) Fully amortized intangible assets — — (432 ) — (432 ) Year Ended December 31, 2016 $ 3,324 $ 17,207 $ — $ 8,416 $ 28,947 Accumulated Amortization Year Ended December 31, 2014 $ (5,429 ) $ (24,179 ) $ (96 ) $ (1,457 ) $ (31,161 ) Amortization expense (624 ) (2,543 ) (192 ) 259 (3,100 ) Fully amortized intangible assets 4,737 22,700 — — 27,437 Year Ended December 31, 2015 (1,316 ) (4,022 ) (288 ) (1,198 ) (6,824 ) Amortization expense (332 ) (1,687 ) (144 ) (314 ) (2,477 ) Fully amortized intangible assets — — 432 — 432 Year Ended December 31, 2016 $ (1,648 ) $ (5,709 ) $ — $ (1,512 ) $ (8,869 ) Weighted average remaining contractual life, in years 5.0 9.2 0.0 8.4 8.6 Future amortization expense of intangible assets for each of the years ended December 31 is as follows (in thousands): 2017 $ 2,346 2018 2,173 2019 2,227 2020 2,227 2021 2,227 Years subsequent to 2021 8,878 $ 20,078 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. These indicators may include a significant decrease in the market price of a long-lived asset or asset group, a significant adverse change in the extent or manner in which a long-lived asset or asset group is being used or in its physical condition, or a current period operating or cash flow loss combined with a history of operating or cash flow losses or a forecast that demonstrates continuing losses associated with the use of a long-lived asset or asset group. If the carrying values of the assets are not recoverable, as determined by the estimated undiscounted cash flows, the estimated fair value of the assets or asset groups are compared to their current carrying values and impairment charges are recorded if the carrying value exceeds fair value. The Company performs its testing on an asset or asset group basis. Generally, fair value is determined using valuation techniques, such as expected discounted cash flows or appraisals, as appropriate. During the years ended December 31, 2016 , 2015 , and 2014 , the Company recognized impairment charges of $130.8 million , $7.1 million and $4.4 million , respectively, r |
Business Acquisitions (Notes)
Business Acquisitions (Notes) | 12 Months Ended |
Dec. 31, 2016 | |
Business Combinations [Abstract] | |
Business Acquisitions | 2. BUSINESS ACQUISITIONS Witt O'Brien's. On July 11, 2014, the Company acquired a controlling interest in Witt O’Brien’s through the acquisition of its partner’s 45.8% equity interest for $35.4 million in cash (see Note 4). 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 $48.1 million of goodwill being recorded. CCM. On October 31, 2016, the Company acquired certain assets from Central Contracting & Marine, Inc. (“CCM”) consisting primarily of terminal and fleeting assets, including five harbor boats, for $18.1 million in cash. The Company performed a preliminary fair value analysis and the purchase price was allocated to the acquired assets based on their fair values resulting in no goodwill being recorded. SeaJon II. On December 2, 2016, the Company acquired a controlling interest in SeaJon II LLC (“SeaJon II”), which owns one U.S.-flag offshore tug, through the acquisition of its partner’s 50% equity interest for $3.4 million in cash (see Note 4). 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. Cypress CKOR. On December 12, 2016, the Company obtained a 100% controlling interest in Cypress CKOR LLC (“Cypress CKOR”), an owner of one offshore support vessel, for one dollar and the assumption of $3.1 million in debt. 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. 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): 2016 2015 2014 Restricted cash $ 275 $ — $ — Trade and other receivables 2,187 — 31,079 Other current assets 150 — 1,925 Investments, at Equity, and Advances to 50% or Less Owned Companies (3,437 ) — (49,968 ) Property and Equipment 17,132 — 519 Goodwill — 3,157 44,967 Intangible Assets 7,098 (3,157 ) 24,901 Other Assets — — 111 Accounts payable 238 — (1,709 ) Other current liabilities (13 ) — (12,274 ) Long-Term Debt (3,091 ) — (3,266 ) Deferred Income Taxes — — 91 Other Liabilities — — (1,376 ) Purchase price (1) $ 20,539 $ — $ 35,000 ______________________ (1) Purchase price is net of cash acquired totaling $0.9 million and $0.4 million in 2016 and 2014 , respectively. |
Investments, At Equity, And Adv
Investments, At Equity, And Advances To 50% Or Less Owned Companies | 12 Months Ended |
Dec. 31, 2016 | |
Equity Method Investment, Summarized Financial Information [Abstract] | |
Investments, At Equity, And Advances To 50% Or Less Owned Companies | 4. 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 2016 2015 Offshore Marine Services: MexMar 49.0% $ 63,404 $ 50,163 Falcon Global 50.0% 18,539 17,951 Dynamic Offshore 19.0% 15,871 14,172 Sea-Cat Crewzer II 50.0% 11,246 11,339 OSV Partners 30.4% 9,245 11,374 Nautical Power 50.0% 6,413 6,412 Sea-Cat Crewzer 50.0% 4,088 2,701 Other 20.0% – 50.0% 9,505 15,898 138,311 130,010 Inland River Services: SCFCo 50.0% 46,028 57,437 Bunge-SCF Grain 50.0% 16,176 16,695 SCF Bunge Marine 50.0% 4,233 4,544 Other 50.0% 2,744 2,687 69,181 81,363 Shipping Services: Trailer Bridge (1) 55.3% 43,050 41,710 SEA-Access 50.0% — 8,414 SeaJon 50.0% 8,570 7,987 SeaJon II 50.0% — 6,388 51,620 64,499 Other: Hawker Pacific 34.2% 20,418 20,964 VA&E 41.3% 11,133 13,954 Avion 39.1% 14,783 11,994 Cleancor 50.0% 5,373 5,613 Other 34.0% – 50.0 % 2,953 2,706 54,660 55,231 $ 313,772 $ 331,103 ______________________ (1) The Company’s ownership percentage represents its economic interest in the joint venture. Combined Condensed Financial Information. Summarized financial information for the Company’s investments, at equity, excluding Dorian, as of and for the years ended December 31 was as follows (in thousands): 2016 2015 Current assets $ 745,872 $ 603,446 Noncurrent assets 1,009,317 1,066,610 Current liabilities 622,530 401,987 Noncurrent liabilities 458,922 674,896 2016 2015 2014 Operating Revenues $ 1,359,370 $ 1,281,708 $ 1,175,872 Costs and Expenses: Operating and administrative 1,204,496 1,085,518 1,021,730 Depreciation 80,784 94,105 61,233 1,285,280 1,179,623 1,082,963 Gains (Losses) on Asset Dispositions and Impairments, Net (27,900 ) (2,174 ) 368 Operating Income $ 46,190 $ 99,911 $ 93,277 Net Income (Loss) $ (34,569 ) $ 18,835 $ 29,296 As of December 31, 2016 and 2015 , cumulative undistributed net earnings of 50% or less owned companies accounted for by the equity method and included in the Company’s consolidated retained earnings were $7.8 million and $19.9 million , respectively. Condensed Financial Information of Dorian. On December 21, 2015, the Company classified its investment in Dorian as marketable securities. Dorian files periodic reports on Form 10-Q and Form 10-K with the Securities and Exchange Commission (“SEC”). Summarized financial information for Dorian as of and for the years ended December 31 was as follows (in thousands): 2015 (1) 2014 Current assets $ 98,254 $ 198,058 Noncurrent assets 1,724,758 812,164 Current liabilities 88,021 20,662 Noncurrent liabilities 759,636 125,716 2015 (1) 2014 Operating Revenues $ 239,206 $ 78,666 Operating Income 126,820 20,494 Net Income 118,356 15,122 ______________________ (1) Financial information provided is as of and for the year ended December 31, 2015 as it was not practical to obtain financial information through period ended December 21, 2015 without undue difficulty or cost. MexMar. Mantenimiento Express Maritimo, S.A.P.I. de C.V. (“MexMar”) owns and operates 15 offshore support vessels in Mexico. During the year ended December 31, 2016 , the Company contributed additional capital of $7.4 million in cash and sold two offshore support vessels for $34.0 million in cash to MexMar. During the year ended December 31, 2015 , the Company contributed capital of $7.9 million in cash to MexMar. In addition, during the year ended December 31, 2015 , MexMar repaid $15.0 million of seller financing provided by the Company. 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 $25.6 million in seller financing, of which $10.7 million was repaid in 2014) to MexMar. During the years ended December 31, 2016 , 2015 and 2014 , the Company received $0.3 million , $0.4 million and $0.3 million , respectively, of vessel management fees from MexMar. During the years ended December 31, 2016 , 2015 and 2014 , MexMar paid the Company $5.1 million , $11.6 million and $13.5 million , respectively, to charter certain vessels under bareboat and time charter arrangements. Falcon Global. On August 1, 2014, the Company and Montco Global, LLC formed Falcon Global LLC (“Falcon Global”) to construct and operate two foreign-flag liftboats. The Company has a 50% ownership interest in Falcon Global. During the years ended December 31, 2016 , 2015 and 2014 , the Company and its partner each contributed capital of $7.7 million , $15.7 million and $3.4 million , respectively, in cash to Falcon Global. During the year ended December 31, 2016 , the Company recorded an impairment charge of $6.4 million , net of tax, for an other-than-temporary decline in the fair value of its investment in Falcon Global (see Note 10). As of December 31, 2016 , the Company has guaranteed $3.8 million related to the construction contract for the liftboats, which declines as progress payments are made in accordance with the contract. In addition, as of December 31, 2016 , the Company has jointly and severally guaranteed $51.8 million of debt used to construct the liftboats. As of December 31, 2016 , the Company’s carrying value of its investment in Falcon Global was $6.4 million lower than its proportionate share of the underlying equity in Falcon Global. Dynamic Offshore Drilling. Dynamic Offshore Drilling Ltd. (“Dynamic Offshore”) was established to construct and operate a jack-up drilling rig that was delivered in the first quarter of 2013. Sea-Cat Crewzer II. Sea-Cat Crewzer II LLC (“Sea-Cat Crewzer II”) owns and operates two high speed offshore catamarans. The Company is a guarantor of its proportionate share of Sea-Cat Crewzer’s II 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, 2016 , the Company’s guarantee was $11.6 million . During the year ended December 31, 2015 , the Company received dividends of $1.8 million from Sea-Cat Crewzer II. During the year ended December 31, 2014 , the Company received capital distributions of $14.0 million . During the years ended December 31, 2016 , 2015 and 2014 , the Company received $0.7 million , $0.7 million and $0.7 million , respectively, of vessel management fees from Sea-Cat Crewzer II. OSV Partners. SEACOR OSV Partners GP LLC and SEACOR OSV Partners I LP (collectively “OSV Partners”) owns and operates five offshore support vessels. During the years ended December 31, 2016 , 2015 and 2014 , the Company contributed capital of $1.2 million , $1.4 million and $5.1 million , respectively, in cash to OSV Partners. In addition, during the year ended December 31, 2016 , equity in earnings (losses) of 50% or less owned companies, net of tax, includes $1.0 million related to the Company’s proportionate share of impairment charges associated with OSV Partners’ fleet. During the year ended December 31, 2014 , the Company sold two offshore support vessels for $27.7 million to OSV Partners. During the years ended December 31, 2016 , 2015 and 2014 , the Company received $0.5 million , $1.2 million and $1.2 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. As of December 31, 2016 , the Company’s investment in Nautical Power consists of its share of funds dedicated for future investment. 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, 2016 , the Company’s guarantee was $10.3 million . During the years ended December 31, 2015 and 2014 , the Company received dividends of $1.3 million and $3.3 million , respectively, from Sea-Cat Crewzer. In addition, during the year ended December 31, 2014 , the Company received capital distributions of $3.2 million from Sea-Cat Crewzer. During the years ended December 31, 2016 , 2015 and 2014 , the Company received $0.7 million , $0.7 million and $0.7 million , respectively, of vessel management fees from Sea-Cat Crewzer. During the years ended December 31, 2016 , 2015 and 2014 , the Company paid $4.3 million , $5.9 million and $6.7 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, 2016 , the Company received dividends of $0.8 million from these 50% or less owned companies and made capital contributions of $0.5 million to these 50% or less owned companies. In addition, during the year ended December 31, 2016 , the Company recognized impairment charges of $0.5 million , net of tax, for an other-than-temporary decline in the fair value of its investment in a certain 50% or less owned company and recognized $2.7 million , net of tax, for its proportionate share of impairment charges recognized by certain of its 50% or less owned companies related to offshore support vessels used in their operations, both of which are included in equity in earnings (losses) of 50% or less owned companies, net of tax in the accompanying consolidated statements of income (loss). During the year ended December 31, 2015 , the Company received dividends of $0.9 million and repayments on advances of $0.2 million from these 50% or less owned companies. In addition, during the year ended December 31, 2015 , the Company recognized impairment charges of $2.0 million , net of tax, for its proportionate share of impairment charges recognized by certain of its 50% or less owned companies related to offshore support vessels used in their operations, which are included in equity in earnings (losses) of 50% or less owned companies in the accompanying consolidated statements of income (loss). During the year ended December 31, 2014 , the Company received capital distributions of $0.2 million , dividends of $1.0 million and repayments of advances of $0.6 million , and made capital contributions and advances of $0.8 million 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 $1.8 million in the aggregate as of December 31, 2016 . 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. As of December 31, 2016 , the Company’s contingent guarantee of outstanding charter receivables was $0.4 million . During the years ended December 31, 2016 , 2015 and 2014 , the Company received $0.8 million , $0.8 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, 2016 , 2015 and 2014 , the Company contributed capital of $0.8 million , $18.0 million and $19.7 million , respectively, to SCFCo. During the years ended December 31, 2016 and 2014 , the Company provided working capital advances and loans of $1.8 million and $23.5 million , respectively. In addition, during the year ended December 31, 2014 , the Company financed the sale of one inland river towboat and 20 dry-cargo barges to SCFCo for $13.0 million . During the years ended December 31, 2015 and 2014 , the Company received repayments on these working capital advances, loans and financings of $14.0 million and $1.0 million , respectively. As of December 31, 2016 , $30.3 million of working capital advances and loans remained outstanding. The Company also provides SCFCo with certain information technology services and received $0.1 million and $0.2 million , respectively, for these services during the years ended December 31, 2016 and 2015 . During the years ended December 31, 2016 and 2015, the Company identified indicators of impairment in its investment in SCFCo as a result of continuing losses and recognized impairment charges of $7.7 million and $21.5 million , respectively, for an other-than-temporary decline in the fair value of its investment (see Note 10). As of December 31, 2016 , the Company’s carrying value of its investment in SCFCo was $28.5 million lower than its proportionate share of the underlying equity in SCFCo. 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 in cash and made working capital advances of $2.0 million to Bunge-SCF Grain. During the year ended December 31, 2015 , the Company received $2.0 million of repayments of working capital advances. As of December 31, 2016 , 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 $1.0 million , $1.0 million and $1.0 million in rental income for the years ended December 31, 2016 , 2015 and 2014 , respectively. The Company also provides freight transportation to Bunge-SCF Grain and received $7.2 million , $10.8 million and $7.8 million for these services during the years ended December 31, 2016 , 2015 and 2014 , 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 time charters six inland river towboats to SCF Bunge Marine, of which four are bareboat chartered-in by the Company from a third-party leasing company. The Company and its partner are required to fund SCF Bunge Marine, if necessary, to support the payment of its time charter obligations to the Company. Pursuant to the time charter, the Company received charter fees of $35.0 million , $41.7 million and $41.6 million for the years ended December 31, 2016 , 2015 and 2014 , respectively. During the years ended December 31, 2016 , 2015 and 2014 , the Company received dividends of $2.5 million , $4.0 million and $4.5 million , respectively, from SCF Bunge Marine. In addition, during the years ended December 31, 2016 , 2015 and 2014 , SCF Bunge Marine received $40.2 million , $47.9 million and $46.6 million , respectively, for towing services provided to the Company. Other Inland River Services. The Company’s other Inland River Services 50% or less owned company operates a fabrication facility. During the year ended December 31, 2014 , the Company received capital distributions of $2.1 million from this 50% or less owned company. Dorian. 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 (loss). During the year ended December 31, 2015 , the Company sold 150,000 shares of Dorian for $2.3 million in cash reducing the Company’s ownership to 15.9% . On December 21, 2015, Mr. Fabrikant, the Executive Chairman and Chief Executive Officer of SEACOR, resigned from Dorian’s board of directors. As a consequence, the Company determined it no longer exercised significant influence over Dorian and marked its investment, at equity, in Dorian to fair value resulting in a loss of $32.3 million , net of tax, which is included in equity in earnings (losses) of 50% or less owned companies in the accompanying consolidated statements of income (loss). The Company’s investment in Dorian is classified as marketable securities in the accompanying consolidated balance sheet (see Note 1). Trailer Bridge. Trailer Bridge, Inc. (“Trailer Bridge”), an operator of U.S.-flag deck and RORO barges, provides marine transportation services between Jacksonville, Florida, San Juan, Puerto Rico and Puerto Plata, Dominican Republic. In December 2016, the Company and other major investors recapitalized Trailer Bridge by agreeing to exchange outstanding subordinated debt for equity. As a consequence of the recapitalization, the Company’s noncontrolling interest in Trailer Bridge increased to 55.3% resulting in an equity loss of $2.2 million , net of tax. The Company provides secured financing to Trailer Bridge and during the year ended December 31, 2016 , the Company provided advances of $1.7 million on the secured financing. During the years ended December 31, 2015 and 2014 , the Company received repayments of $18.7 million and $2.1 million , respectively, on the secured financing. As of December 31, 2016 , the outstanding amount on the secured financing was $3.9 million , inclusive of accrued and unpaid interest. During the years ended December 31, 2016 , 2015 and 2014 , the Company received $3.0 million , $0.4 million and $2.0 million , respectively, for the time charter of a U.S.-flag harbor tug to Trailer Bridge. The Company also provides Trailer Bridge with technical and commercial management services and during the years ended December 31, 2016 and 2015 , received $0.3 million and $0.8 million , respectively, for these services. 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 oil tanker. In June 2016, the M/V Eagle Ford was scrapped and, as of December 31, 2016 , SEA-Access had been liquidated. 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. During the year ended December 31, 2016 , the Company received capital distributions of $8.4 million and dividends of $2.0 million from SEA-Access. During the year ended December 31, 2015 , the Company received capital distributions of $8.3 million and dividends of $4.4 million from SEA-Access. The Company also provided SEA-Access with technical and commercial management services and received $0.5 million , $1.0 million and $0.1 million , for the years ended December 31, 2016 , 2015 and 2014 , respectively, for these services. SeaJon. SeaJon LLC (“SeaJon”) owns an articulated tug-barge operating in the Great Lakes trade. The Company is a guarantor of its proportionate share of SeaJon’s debt up to a maximum of $5.0 million . As of December 31, 2016 , the Company’s guarantee was $5.0 million . During the year ended December 31, 2014 , the Company and its partner each made capital contributions of $2.3 million . In addition, 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 years ended December 31, 2016 and 2015 , the Company received dividends of $0.6 million and $0.6 million , respectively, from SeaJon. SeaJon II. On October 1, 2014, the Company and Donjon Marine Co., Inc. formed SeaJon II LLC (“SeaJon II”) to own a U.S.-flag offshore tug on time charter to Trailer Bridge. During the years ended December 31, 2015 and 2014 , the Company and its partner each contributed capital of $1.0 million and $0.6 million , respectively, in cash. During the year ended December 31, 2014 , the Company and its partner each contributed an interest in an offshore tug under construction valued at $5.4 million (see SeaJon). During the year ended December 31, 2015 , the Company received capital distributions of $0.3 million from SeaJon II. The Company also provides SeaJon II with technical and commercial management services and received $0.1 million and $0.1 million , during the years ended December 31, 2016 and 2015 , respectively, for these services. On December 2, 2016, the Company acquired a controlling interest in SeaJon II through the acquisition of its partner’s 50% equity interest for $3.4 million in cash (see Note 2). Upon the change in control, the Company marked its investment in SeaJon II to fair value resulting in a loss of $1.9 million , net of tax, which is included in equity in earnings (losses) of 50% or less owned companies in the accompanying consolidated statements of income (loss) (see Note 10). Hawker Pacific. Hawker Pacific Airservices, Limited (“Hawker Pacific”) is an aviation sales and support organization and a distributor of aviation components from leading manufacturers. As of December 31, 2016 , the Company had a $6.5 million letter of credit outstanding in support of certain Hawker Pacific performance guarantees. During the years ended December 31, 2016 , 2015 and 2014 , the Company received management fees of $0.3 million , $0.3 million and $0.5 million , respectively, from Hawker Pacific. VA&E. On June 1, 2015, the Company contributed its 81.1% interest in the assets and liabilities of a previously controlled and consolidated subsidiary that operated its agricultural commodity trading and logistics business (including $3.5 million of cash on hand) in exchange for a 41.3% ownership interest in each of VA&E Trading USA LLC and VA&E Trading LLP (collectively “VA&E”), two newly formed 50% or less owned companies with certain subsidiaries of ECOM Agroindustrial Corp. Ltd. and certain managers of VA&E. VA&E primarily focuses on the global origination, trading and merchandising of sugar, pairing producers and buyers and arranging for the transportation and logistics of the product. Through November 2016, the Company provided VA&E an unsecured revolving credit facility of up to $6.0 million , a term loan of $1.1 million and a subordinated loan of $1.0 million . In December 2016, the Company increased its subordinated loan to $3.5 million and terminated the revolving credit facility and term loan. During the years ended December 31, 2016 and 2015 , VA&E borrowed $10.0 million and $15.0 million , respectively and repaid $12.4 million and $11.5 million , respectively, on the revolving credit facility. During the year ended December 31, 2016 , the Company received repayments of $1.1 million on its term loan. During the year ended December 31, 2015 , the Company and its partner each funded $1.0 million under the subordinated note executed upon formation of VA&E. As of December 31, 2016 , the Company had outstanding advances of $3.6 million to VA&E inclusive of accrued and unpaid interest. Avion. Avion Pacific Limited (“Avion”) is a distributor of aircraft and aircraft related parts. During the years ended December 31, 2016 and 2014 , the Company made advances of $3.0 million and $3.0 million , respectively, to Avion. During the years ended December 31, 2015 and 2014 , the Company received repayments on advances of $3.0 million and $4.0 million , respectively, from Avion. As of December 31, 2016 , the Company had $3.0 million of outstanding advances to Avion. Cleancor. 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. During the year ended December 31, 2015 , the Company provided Cleancor financing of $2.0 million for certain equipment, of which $1.9 million was outstanding as of December 31, 2016 . 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, which was renamed Witt O’Brien’s, LLC. On July 11, 2014, the Company acquired a controlling interest in Witt O’Brien’s through the acquisition of its partner’s equity interest (see Note 2). During the six months ended June 30, 2014, the Company received capital distributions of $0.4 million and dividends of $0.4 million from Witt O’Brien’s. During the six months ended December 31, 2014 , the Company received management fees of $0.1 million from Witt O’Brien’s. Other. The Company’s other 50% or less owned companies are primarily industrial aviation businesses in Asia. During the years ended December 31, 2016 , 2015 and 2014 , the Company contributed capital and made advances of $0.8 million , $0.2 million and $1.7 million , respectively, to these 50% or less owned companies. During the year ended December 31, 2014 , the Company received capital distributions of $0.1 million from these 50% or less owned companies. |
Construction Reserve Funds Cons
Construction Reserve Funds Construction Reserve Funds (Notes) | 12 Months Ended |
Dec. 31, 2016 | |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [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 statute 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 penalties and interest thereon for the period such taxes were deferred. The Company’s construction reserve funds 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): 2016 2015 2014 Withdrawals $ (130,446 ) $ (47,472 ) $ (131,167 ) Deposits 29,000 34,459 147,450 $ (101,446 ) $ (13,013 ) $ 16,283 |
Schedule of Construction Reserve Funds [Table Text Block] | Construction reserve fund transactions for the years ended December 31 were as follows (in thousands): 2016 2015 2014 Withdrawals $ (130,446 ) $ (47,472 ) $ (131,167 ) Deposits 29,000 34,459 147,450 $ (101,446 ) $ (13,013 ) $ 16,283 |
Third Party Notes Receivable
Third Party Notes Receivable | 12 Months Ended |
Dec. 31, 2016 | |
Notes, Loans and Financing Receivable, Net, Noncurrent [Abstract] | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | 6. 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, 2016 and 2015 , the outstanding balance of leases and notes receivable from third parties was $12.6 million and $24.9 million , respectively, and is included in other long-term assets in the accompanying consolidated balance sheets. During the years ended December 31, 2016 , 2015 and 2014 , the Company made advances on notes receivable from third parties of $9.4 million , $9.6 million and $19.0 million , respectively, and received repayments on notes receivable from third parties of $6.8 million , $10.8 million and $10.0 million , respectively. During the year ended December 31, 2014 , the Company received net lease payments of $0.6 million from third parties. During the year ended December 31, 2016 , the Company recognized reserves of $8.5 million for two notes receivable from third parties following non-performance and a decline in the underlying collateral values (see Note 10). |
Long-Term Debt
Long-Term Debt | 12 Months Ended |
Dec. 31, 2016 | |
Long-term Debt, Unclassified [Abstract] | |
Long-Term Debt | 7. LONG-TERM DEBT The Company’s borrowings as of December 31 were as follows (in thousands): 2016 2015 3.0% Convertible Senior Notes (1) $ 230,000 $ 230,000 2.5% Convertible Senior Notes (2) 157,128 284,500 7.375% Senior Notes (3) 160,699 195,941 3.75% Subsidiary Convertible Senior Notes (4) 175,000 175,000 SEA-Vista Credit Facility (5) 279,245 210,025 Other (6) 82,742 54,287 1,084,814 1,149,753 Portion due within one year, net of related debt discount and issuance costs (183,602 ) (35,531 ) Debt discount included in long-term debt (39,537 ) (62,914 ) Debt issuance costs included in long-term debt (12,904 ) (16,449 ) $ 848,771 $ 1,034,859 ______________________ (1) Excludes unamortized discount and unamortized issue costs of $29.8 million and $3.0 million , respectively, as of December 31, 2016 and $36.2 million and $3.7 million , respectively, as of December 31, 2015 . (2) Excludes unamortized discount and unamortized issue costs of $4.8 million and $0.8 million , respectively, as of December 31, 2016 and $17.3 million and $2.8 million , respectively, as of December 31, 2015 . (3) Excludes unamortized discount and unamortized issue costs of $0.4 million and $0.5 million , respectively, as of December 31, 2016 and $0.6 million and $0.9 million , respectively, as of December 31, 2015 . (4) Excludes unamortized discount and unamortized issue costs of $4.1 million and $3.1 million , respectively, as of December 31, 2016 and $8.2 million and $6.2 million , respectively, as of December 31, 2015 . (5) Excludes unamortized issue costs of $2.0 million and $2.7 million as of December 31, 2016 and December 31, 2015 , respectively. (6) Excludes unamortized discount and unamortized issue costs of $0.5 million and $3.5 million , respectively, as of December 31, 2016 and unamortized discount and unamortized issue costs of $0.6 million and $0.2 million , respectively, as of December 31, 2015 . The Company’s contractual long-term debt maturities for the years ended December 31 are as follows (in thousands): 2017 (1) $ 189,164 2018 21,766 2019 183,212 2020 238,846 2021 25,800 Years subsequent to 2021 426,026 $ 1,084,814 ______________________ (1) Includes the aggregate principal amount outstanding of the Company’s 2.5% Convertible Senior Notes with a contractual maturity date of December 15, 2027 as the holders may require the Company to repurchase the notes on December 19, 2017. 3.0% Convertible Senior Notes. On November 13, 2013, SEACOR issued $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. 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 SEACOR common stock, par value $0.01 per share (“Common Stock”), at the initial conversion rate (“Conversion Rate”) of 7.9362 shares per $1,000 principal amount of notes only if certain conditions are met, as more fully described in the indenture. After August 15, 2028, holders may elect to convert at any time. The Company has reserved the maximum number of shares of Common Stock needed upon conversion, or 1,825,326 shares as of December 31, 2016 . On or 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, November 20, 2023 or if the Company undergoes a fundamental change, as more fully described in the indenture, 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. 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. 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 issued $350.0 million aggregate principal amount of its 2.5% Convertible Senior Notes due December 15, 2027 (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 at a conversion rate of 12.0015 shares per $1,000 principal amount of notes only if certain conditions are met, as more fully described in the indenture. After September 15, 2017, holders may elect to convert at any time. The Company has reserved the maximum number of shares of Common Stock needed upon conversion, or 1,885,772 shares as of December 31, 2016 . After December 19, 2015 and prior to December 19, 2017, the 2.5% Convertible Senior Notes may be redeemed, in whole or in part, only if certain conditions are met, as more fully described in the indenture, 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 principal amount of notes. On or 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. On December 19, 2017, December 19, 2022 or if the Company undergoes a fundamental change, as more fully described in the indenture, 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. 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. 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% . During the year ended December 31, 2016 , the Company repurchased $127.4 million in principal amount of its 2.5% Convertible Senior Notes for total consideration of $124.7 million . Consideration of $117.3 million was allocated to the settlement of the long-term debt resulting in gains on debt extinguishment of $3.3 million included in the accompanying consolidated statements of income (loss). Consideration of $7.4 million was allocated to the purchase of the conversion option embedded in the 2.5% Convertible Senior Notes as included in the accompanying consolidated statements of changes in equity. During the year ended December 31, 2015 , the Company repurchased $65.5 million in principal amount of its 2.5% Convertible Senior Notes for total consideration of $62.6 million . Consideration of $59.6 million was allocated to the settlement of the long-term debt resulting in gains on debt extinguishment of $1.1 million included in the accompanying consolidated statements of income (loss). Consideration of $3.0 million was allocated to the purchase of the conversion option embedded in the 2.5% Convertible Senior Notes as included in the accompanying consolidated statements of changes in equity. 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 more fully described in the indenture. During the year ended December 31, 2016 , the Company repurchased $35.2 million in principal amount of its 7.375% Senior Notes for $33.1 million resulting in gains on debt extinguishment of $1.9 million included in the accompanying consolidated statements of income (loss). During the year ended December 31, 2015 , the Company repurchased $37.6 million in principal amount of its 7.375% Senior Notes for $37.9 million resulting in losses on debt extinguishment of $0.6 million included in the accompanying consolidated statements of income (loss). 3.75% Subsidiary Convertible Senior Notes. On December 1, 2015, SEACOR Marine Holdings Inc. (“SMHI”), a subsidiary of SEACOR that is the parent company of the Offshore Marine Services business segment, issued $175.0 million aggregate principal amount of its 3.75% Convertible Senior Notes due December 1, 2022 (the “ 3.75% Subsidiary Convertible Senior Notes”) to investment funds managed and controlled by The Carlyle Group. Interest on the 3.75% Subsidiary Convertible Senior Notes is payable semi-annually on June 15 and December 15 of each year, commencing June 15, 2016. On November 30, 2015, SEACOR and the holders of the 3.75% Subsidiary Convertible Senior Notes also entered into an exchange agreement whereby the holders may elect to exchange the principal amount of their outstanding notes, in whole or in part, into shares of Common Stock at an initial exchange rate of 12.82 shares of Common Stock per $1,000 principal amount of the notes (the “Exchange Option”) beginning upon the earlier of December 1, 2017 or the date on which the Offshore Marine Services business segment’s assets reach a specified percentage of the Company’s consolidated assets. The Company, at its option, may under certain circumstances settle any of the 3.75% Subsidiary Convertible Senior Notes submitted for exchange into Common Stock through the issuance of an equal number of warrants in order to facilitate the Company’s compliance with the provisions of the Jones Act. The warrants, if issued, would entitle its holders to purchase an equal number of shares of Common Stock at an exercise price of $0.01 per share upon the resolution of any Jones Act compliance issues. The Company has reserved the maximum number of shares of Common Stock issuable upon exchange of the notes and potential exercise of warrants, or 2,243,500 shares as of December 31, 2016 . On January 11, 2018, the holders of the 3.75% Subsidiary Convertible Senior Notes may require SMHI 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 (the “2018 Put Option”). Upon consummation of a fundamental change in SMHI or SEACOR, as more fully described in the note purchase agreement, the Company may redeem all the 3.75% Subsidiary Convertible Senior Notes for cash at a price equal to the greater of 100% of the principal amount, plus accrued and unpaid interest to the date of redemption, or the fair value of consideration the holders of the 3.75% Subsidiary Convertible Senior Notes would have received if exchanged into Common Stock or converted into SMHI immediately prior to the fundamental change (the “Fundamental Change Call”). The Company has determined that the Exchange Option is an embedded derivative within the 3.75% Subsidiary Convertible Senior Notes required to be valued separate and apart from the 3.75% Subsidiary Convertible Senior Notes and recorded at fair value (see Notes 9 and 10). On December 1, 2015, the fair value of the bifurcated embedded derivative was $8.5 million and recorded as an exchange option liability on subsidiary convertible senior notes in the accompanying consolidated balance sheets resulting in a corresponding debt discount in an equal amount. The debt discount and $6.4 million in offering costs are being amortized as additional non-cash interest expense over the period for which the debt is expected to be outstanding (January 11, 2018) for an overall effective interest rate of 8.7% . The issuance of the 3.75% Subsidiary Convertible Senior Notes contemplates the potential separation of SMHI from the Company via a spin-off of SMHI to SEACOR’s shareholders (the “SMHI Spin-off”). The Company is continuing to pursue a SMHI Spin-off but is under no obligation to do so; however, if the contemplated SMHI Spin-off were to occur, the Exchange Option, the 2018 Put Option and the Fundamental Change Call would immediately terminate and the holders would then be able to elect to convert the principal amount of their outstanding notes, in whole or in part, into shares of SMHI common stock at an initial conversion rate of 23.26 shares of SMHI common stock per $1,000 principal amount of the notes through November 29, 2022. SMHI, at its option, may under certain circumstances settle any of the 3.75% Subsidiary Convertible Senior Notes submitted for conversion into SMHI common stock through the issuance of an equal number of warrants in order to facilitate SMHI’s compliance with the provisions of the Jones Act. The warrants, if issued, would entitle its holders to purchase an equal number of shares of SMHI common stock at an exercise price of $0.01 per share upon the resolution of any Jones Act compliance issues. SMHI has reserved the maximum number of shares of its common stock needed upon conversion of the notes and potential exercise of warrants, or 4,070,500 shares as of December 31, 2016 . The holders of the 3.75% Subsidiary Convertible Senior Notes have no right to convert into SMHI common stock prior to the completion of a SMHI Spin-off. Following a SMHI Spin-off, if SMHI undergoes a fundamental change, as more fully described in the note purchase agreement, the holders of the 3.75% Subsidiary Convertible Senior Notes may require SMHI 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. Following a SMHI Spin-off, the 3.75% Subsidiary Convertible Senior Notes may be redeemed, in whole or in part, only if certain conditions are met, as more fully described in the note purchase agreement, at a price equal to 100% of the principal amount, plus accrued and unpaid interest to the date of redemption. SEA-Vista Credit Facility. On April 15, 2015, SEA-Vista entered into a $300.0 million credit agreement with a syndicate of lenders that matures in 2020 (the “SEA-Vista Credit Facility”) and is secured by substantially all of SEA-Vista’s tangible and intangible assets with no recourse to SEACOR or its other subsidiaries. The SEA-Vista Credit Facility is comprised of three tranches: (i) a $100.0 million revolving credit facility (the “Revolving Loan”); (ii) an $80.0 million term loan (the “Term A-1 Loan”); and (iii) a $120.0 million delayed draw term loan (the “Term A-2 Loan”). The proceeds from the SEA-Vista Credit Facility were and will be used to fund SEA-Vista’s working capital, general corporate purposes, capital commitments and the redemption of its Title XI Bonds (see note below). All three loans bear interest at a variable rate determined by reference to the London Interbank Offered Rate (“LIBOR”) plus a margin of between 2.00% and 2.75% as determined in accordance with the SEA-Vista Credit Facility or, at the election of SEA-Vista, a Base Rate plus a margin of between 1.25% and 1.75% as determined in accordance with the SEA-Vista Credit Facility. A quarterly fee is payable on the unused commitments of all three tranches. SEA-Vista incurred $3.1 million of issuance costs related to the SEA-Vista Credit Facility. Each of the loans under the SEA-Vista Credit Facility will mature on April 15, 2020 (the “Maturity Date”), which may be accelerated in certain circumstances. The principal of the Term A-1 Loan is repayable commencing in June 2015 in quarterly installments of 1.25% of the aggregate principal amount of the Term A-1 Loan through June 30, 2017. Commencing on September 30, 2017, the principal of each of the Term A-1 Loan and the Term A-2 Loan is repayable in quarterly installments of 2.50% of the aggregate principal amount of such loans, with the outstanding principal balance, interest and all other amounts outstanding for all loans, including the Revolving Loan, due and payable on the Maturity Date. Commencing with the calendar year ending December 31, 2016, SEA-Vista is required to make annual prepayments on the Term A-1 Loan and the Term A-2 Loan in an amount equal to 50% of annual excess cash flow (as defined), with prepayments continuing on an annual basis until an amount equal to $75.0 million of the aggregate principal amount of the term loans has been repaid. Each such payment is to be made on or before May 15 of the subsequent calendar year (i.e., commencing May 15, 2017). In addition, SEA-Vista has the right to make optional prepayments on each of the loans without penalty in minimum amounts of $1.0 million . During the year ended December 31, 2016 , SEA-Vista drew $87.0 million and repaid $14.0 million on the Revolving Loan and made scheduled repayments of $3.8 million on the Term A-1 Loan. As of December 31, 2016 , SEA-Vista had $14.0 million of borrowing capacity under the SEA-Vista Credit Facility. Subsequent to December 31, 2016 , SEA-Vista borrowed $14.0 million on the Revolving Loan. During the year ended December 31, 2015 , SEA-Vista drew $30.0 million and repaid $17.0 million on the Revolving Loan, borrowed $80.0 million and made scheduled repayments of $3.0 million on the Term A-1 Loan and borrowed $120.0 million under the Term A-2 Loan. The SEA-Vista Credit Facility contains various financial maintenance and restrictive covenants including: funded debt to adjusted EBITDA; adjusted EBITDA to interest expense plus amortization; aggregate collateral vessel value to the sum of funded debt and unused and unexpired commitments; and minimum liquidity. In addition, the SEA-Vista Credit Facility restricts the payment of dividends and distributions as defined in the SEA-Vista Credit Facility. 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”). On June 1, 2015, SEA-Vista redeemed its Title XI bonds for $99.9 million and recorded a $29.0 million loss on extinguishment of debt for the then unamortized debt discount, the make whole premium paid and certain other redemption costs. As a consequence of redeeming the bonds prior to their scheduled maturity, SEA-Vista was required to pay a make whole premium in the amount of $20.5 million . The redemption of the bonds released the liens on vessels supporting the Title XI financing and facilitated the issuance of the SEA-Vista Credit Facility. The redemption of the Title XI bonds was funded with advances from the SEA-Vista Credit Facility, its restricted cash and $9.6 million of Title XI reserve funds. During the year ended December 31, 2014, the Company made $5.9 million of scheduled payments. ICP Revolving Credit Facility. On April 9, 2015, ICP entered into a $30.0 million revolving credit facility with JP Morgan Chase Bank, N.A. serving as Administrative Agent and Lender (the “ICP Revolving Credit Facility”), which includes an accordion feature whereby loan commitments available under the facility could be increased in the future by an additional $20.0 million , subject to lender approval. The ICP Revolving Credit Facility will primarily be used to finance working capital requirements and for general corporate purposes. The ICP Revolving Credit Facility matures on April 9, 2018 and is secured by all assets of ICP, except real estate, with no recourse to SEACOR or its other subsidiaries. ICP has agreed not to pledge its real estate as collateral to any other party. The amount available for borrowing at any given time under the ICP Revolving Credit Facility is determined by a formula based on the current outstanding loan balance, the amount of ICP’s eligible outstanding accounts receivable balances, and the carrying value of its eligible inventories, subject to additional reserves. Interest on outstanding loans would equate to the one-month LIBOR interest rate plus an applicable margin of 2.00% . A monthly commitment fee is payable based on the unused amounts of the ICP Revolving Credit Facility. The ICP Revolving Credit Facility places restrictions on ICP including limitations on its ability to incur indebtedness, liens, restricted payments, and asset sales. Other restricted payments, including dividends, are subject to certain conditions, including undrawn availability under the ICP Revolving Credit Facility and ICP’s pro forma fixed charge coverage ratio, as defined. In addition, ICP is subject to various covenants under this agreement, as defined. ICP incurred $0.3 million in issuance costs related to the ICP Revolving Credit Facility. As of December 31, 2016 , ICP had no borrowings on the ICP Revolving Credit Facility and had $16.2 million of borrowing capacity. Other. The Company has various other obligations including ship, equipment and facility mortgages. These obligations have maturities ranging from several months through 2029, have interest rates ranging from 2.7% to 4.6% as of December 31, 2016 , and require periodic payments of interest and principal. During the years ended December 31, 2016 , 2015 and 2014 , proceeds from the issuance of other debt was $53.8 million , $4.9 million and $26.9 million , respectively. During the years ended December 31, 2016 , 2015 and 2014 , repayments on other debt and capital leases was $27.5 million , $15.9 million and $29.5 million , respectively. Subsequent to December 31, 2016 , proceeds from the issuance of other debt was $3.4 million . As of December 31, 2016 , the Company had outstanding letters of credit totaling $26.2 million with various expiration dates through 2019 . Additionally, as of December 31, 2016 , the Company had other labor and performance guarantees of $1.9 million . Repurchase Authority. SEACOR’s Board of Directors previously approved a securities repurchase plan that authorizes the Company to acquire its 7.375% Senior Notes, 3.0% Convertible Senior Notes, 2.5% Convertible Senior Notes and Common Stock (collectively the “Securities”), which may be acquired through open market purchases, privately negotiated transactions or otherwise, depending on market conditions. On November 15, 2016 , SEACOR’s Board of Directors increased the Company’s repurchase authority for the Securities to $150.0 million . As of December 31, 2016 , SEACOR had remaining authorization for Securities repurchases of $147.0 million . |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2016 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | 8. INCOME TAXES Income (loss) 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): 2016 2015 2014 United States $ (242,375 ) $ (25,441 ) $ 160,782 Foreign (29,200 ) (2,896 ) (5,409 ) Eliminations and other 9,327 (2,461 ) 7,862 $ (262,248 ) $ (30,798 ) $ 163,235 As of December 31, 2016 , cumulative undistributed net earnings of foreign subsidiaries included in the Company’s consolidated retained earnings were $7.9 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): 2016 2015 2014 Current: State $ 5,339 $ 3,155 $ 5,526 Federal (9,260 ) 17,442 56,675 Foreign 5,815 5,971 10,060 1,894 26,568 72,261 Deferred: State (2,568 ) (1,875 ) 196 Federal (93,246 ) (35,539 ) (17,222 ) Foreign 90 (516 ) (38 ) (95,724 ) (37,930 ) (17,064 ) $ (93,830 ) $ (11,362 ) $ 55,197 The following table reconciles the difference between the statutory federal income tax rate for the Company and the effective income tax rate for the years ended December 31 : 2016 2015 2014 Statutory rate (35.0 )% (35.0 )% 35.0 % Non-deductible expenses 0.1 % 1.7 % 0.5 % Noncontrolling interests (2.6 )% (8.1 )% (5.3 )% Losses of foreign subsidiaries not benefited 1.3 % 6.2 % 1.2 % State taxes 0.3 % 0.6 % 2.3 % Other 0.1 % (2.3 )% 0.1 % (35.8 )% (36.9 )% 33.8 % 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, 2016 and 2015 , an additional net income tax expense was recorded in stockholders’ equity of $2.3 million and $0.1 million , respectively. For the year ended December 31, 2014 , an additional net income tax benefit was recorded in stockholders’ equity of $1.1 million . 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 Inc. (“Era Group”) by means of a dividend to SEACOR’s shareholders of all the issued and outstanding common stock of Era Group (the “Era Spin-off”). As of December 31, 2016 , the Company had combined unrecognized tax benefits on these potential tax exposures and associated accrued interest of $11.7 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. Changes in the unrecognized tax benefits may be recorded in future periods as the result of settlement by audit or the expiration of the statute of limitations in September 2017. As of December 31, 2016 , 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): 2016 2015 Deferred tax liabilities: Property and equipment $ 257,337 $ 302,529 Long-term debt 46,380 56,110 Unremitted earnings of foreign subsidiaries 24,263 34,977 Investments in 50% or less owned companies 16,549 14,461 Intangible assets 1,908 6,150 Deductible goodwill — 4,124 Other 194 990 Total deferred tax liabilities 346,631 419,341 Deferred tax assets: Share award plans 11,078 11,827 Losses on marketable securities 20,746 8,863 Deductible goodwill 1,611 — Debt and equity issuance costs 7,638 3,029 Other 20,557 8,991 Total deferred tax assets 61,630 32,710 Valuation allowance (3,600 ) (3,357 ) Net deferred tax assets 58,030 29,353 Net deferred tax liabilities $ 288,601 $ 389,988 During the year ended December 31, 2016 , the Company increased its valuation allowance for state net operating loss carryforwards from $3.4 million to $3.6 million . In April 2016, the Internal Revenue Service (“IRS”) selected for examination the Company’s tax return for the year ended December 31, 2014. The examination has been completed and the results of the audit had no material impact on the Company’s consolidated financial position, results of operations or cash flows. |
Derivative Instruments And Hedg
Derivative Instruments And Hedging Strategies | 12 Months Ended |
Dec. 31, 2016 | |
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. The fair values of the Company’s derivative instruments as of December 31 were as follows (in thousands): 2016 2015 Derivative Asset (1) Derivative Liability (2) Derivative Asset (1) Derivative Liability (2) Derivatives designated as hedging instruments: Forward currency exchange contracts (fair value hedges) $ — $ 316 $ — $ — Interest rate swap agreements (cash flow hedges) — 73 — — — 389 — — Derivatives not designated as hedging instruments: Exchange option liability on subsidiary convertible senior notes — 19,436 — 5,611 Options on equities and equity indices — — — 4,005 Forward currency exchange, option and future contracts 195 194 — 57 Interest rate swap agreements — — — 242 Exchange traded commodity swap, option and future contracts: 1,042 598 469 981 1,237 20,228 469 10,896 $ 1,237 $ 20,617 $ 469 $ 10,896 ______________________ (1) Included in other receivables in the accompanying consolidated balance sheets. (2) Included in other current liabilities in the accompanying consolidated balance sheets, except for the exchange option liability on subsidiary convertible senior notes. Fair Value Hedges. From time to time, the Company may designate certain of its foreign currency exchange contracts as fair value hedges in respect of capital commitments denominated in foreign currencies. By entering into these foreign currency exchange contracts, the Company may fix a portion of its capital commitments denominated in foreign currencies in U.S. dollars to protect against currency fluctuations. As of December 31, 2016 , the Company had euro denominated forward currency exchange contracts with an aggregate U.S. dollar equivalent of $3.9 million related to offshore support vessels scheduled to be delivered in 2017. During the year ended December 31, 2016 , the Company recognized losses on the fair value of these contracts of $0.8 million which was included as an increase to the corresponding hedged equipment included in construction in progress in the accompanying consolidated balance sheets. Cash Flow Hedges. The Company and certain of its 50% or less owned companies have interest rate swap agreements designated as cash flow hedges. By entering into these interest rate swap agreements, the Company and its 50% or less owned companies have converted the variable LIBOR or EURIBOR component of certain of their outstanding borrowings to a fixed interest rate. The Company recognized losses on derivative instruments designated as cash flow hedges of $2.5 million , $1.3 million and $0.1 million for the years ended December 31, 2016 , 2015 and 2014 , respectively, as a component of other comprehensive loss. As of December 31, 2016 , the interest rate swaps held by the Company and its 50% or less owned companies were as follows: • The Company had two interest rate swap agreements maturing in 2021 that call for the Company to pay a fixed rate of interest of (0.03)% on the aggregate notional value of €15.0 million ( $15.8 million ) and receive a variable interest rate based on EURIBOR on the aggregate notional value. • MexMar had four interest rate swap agreements with maturities in 2023 that call for MexMar to pay a fixed rate of interest ranging from 1.71% to 2.05% on the aggregate amortized notional value of $105.5 million and receive a variable interest rate based on LIBOR on the aggregate amortized notional value. Subsequent to December 31, 2016 , MexMar entered into another interest rate swap agreement with a maturity in 2023 that calls for MexMar to pay a fixed rate of interest of 2.10% on the notional value of $18.2 million and receive a variable interest rate based on LIBOR on the notional value. • Sea-Cat Crewzer II had an interest rate swap agreement maturing in 2019 that calls for Sea-Cat Crewzer II to pay a fixed rate of interest of 1.52% on the amortized notional value of $23.3 million and receive a variable interest rate based on LIBOR on the amortized notional value. • Sea-Cat Crewzer had an interest rate swap agreement maturing in 2019 that calls for Sea-Cat Crewzer to pay a fixed rate of interest of 1.52% on the amortized notional value of $20.6 million and receive a variable interest rate based on LIBOR on the amortized notional value. • SeaJon had an interest rate swap agreement maturing in 2017 that calls for SeaJon to pay a fixed interest rate of 2.79% on the amortized notional value of $30.3 million and receive a variable interest rate based on LIBOR on the amortized notional value. 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 2016 2015 2014 Exchange option liability on subsidiary convertible senior notes $ (13,826 ) $ 2,900 $ — Options on equities and equity indices 3,095 (3,200 ) 38 Forward currency exchange, option and future contracts (378 ) (519 ) (183 ) Interest rate swap agreements (18 ) (18 ) (176 ) Commodity swap, option and future contracts: Exchange traded 902 (2,744 ) (4,250 ) Non-exchange traded — 1,485 669 $ (10,225 ) $ (2,096 ) $ (3,902 ) The exchange option liability relates to a bifurcated embedded derivative in the Company’s 3.75% Subsidiary Convertible Senior Notes (see Notes 7 and 10). The Company holds positions in publicly traded equity options that convey the right or obligation to engage in future transactions in the underlying equity security or index. The Company’s investment in equity options primarily includes positions in energy, marine, transportation and other related businesses. These contracts are typically entered into to mitigate the risk of changes in the market value of marketable security positions that the Company is either about to acquire, has acquired or is about to dispose. The Company enters and settles forward currency exchange, option and future contracts with respect to various foreign currencies. As of December 31, 2016 , the outstanding forward currency exchange contracts translated into a net purchase of foreign currencies with an aggregate U.S. dollar equivalent of $3.8 million . As of December 31, 2016 , the fair market value of the outstanding forward currency option contracts was an unrealized gain of $0.2 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 months to eighteen months . Certain of the Company’s 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, 2016 , the interest rate swaps held by the Company’s 50% or less owned companies were as follows: • OSV Partners had two interest rate swap agreements with maturities in 2020 that call for OSV Partners to pay a fixed rate of interest ranging from 1.89% to 2.27% on the aggregate amortized notional value of $38.0 million and receive a variable interest rate based on LIBOR on the aggregate amortized notional value. • Dynamic Offshore had an interest rate swap agreement maturing in 2018 that calls for Dynamic Offshore to pay a fixed interest rate of 1.30% on the amortized notional value of $74.0 million and receive a variable interest rate based on LIBOR on the amortized notional value. • Falcon Global had an interest rate swap agreement maturing in 2022 that calls for Falcon Global to pay a fixed interest rate of 2.06% on the amortized notional value of $62.5 million and receive a variable interest rate based on LIBOR on the amortized notional value. The Company and certain of its 50% or less owned companies enter and settle positions in various exchange and non-exchange traded commodity swap, option and future contracts. ICP enters into exchange traded positions (primarily corn, ethanol and natural gas) to protect its raw material and finished goods inventory balances from market changes. VA&E enters into exchange traded positions to protect its fixed price future purchase and sale contracts for sugar as well as its inventory balances from market changes. As of December 31, 2016 , the net market exposure to these commodities under these contracts was not material. |
Fair Value Measurements
Fair Value Measurements | 12 Months Ended |
Dec. 31, 2016 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | 10. 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 2016 ASSETS Marketable securities (1) $ 116,276 $ — $ — Derivative instruments (included in other receivables) 1,042 195 — Construction reserve funds 153,962 — — LIABILITIES Short sales of marketable securities 1,274 — — Derivative instruments (included in other current liabilities) 598 583 — Exchange option liability on subsidiary convertible senior notes — — 19,436 2015 ASSETS Marketable securities (1) $ 138,200 $ — $ — Derivative instruments (included in other receivables) 469 — — Construction reserve funds 255,408 — — LIABILITIES Short sales of marketable securities 4,827 — — Derivative instruments (included in other current liabilities) 4,986 299 — Exchange option liability on subsidiary convertible senior notes — — 5,611 ______________________ (1) Marketable security gains (losses), net include losses of $34.0 million , losses of $1.4 million and gains of $0.3 million for the years ended December 31, 2016 , 2015 and 2014 , respectively, related to marketable security positions held by the Company as of December 31, 2016 . Marketable security gains (losses), net include gains of $1.5 million and $0.3 million for the years ended December 31, 2015 and 2014 , respectively, related to marketable security positions held by the Company as of December 31, 2015 . The fair value of the exchange option liability on the subsidiary convertible senior notes is estimated with significant inputs that are both observable and unobservable in the market and therefore is considered a Level 3 fair value measurement. The Company used a binomial lattice model to estimate the fair value of the exchange option on the subsidiary convertible senior notes that assumes the holders will maximize their value by finding the optimal decision between redeeming at the redemption price or exchanging into shares of Common Stock. This model determines the fair value of the exchange option embedded in the subsidiary convertible senior notes as the differential in the fair value of the notes including the exchange option compared with the fair value of the notes excluding the exchange option. The indicated value of the exchange option was then multiplied by the probability of the SMHI Spin-off to determine the recorded fair value of the exchange option liability. The significant unobservable input used in the fair value measurement is the probability assessment of a SMHI Spin-off. Holding the observable inputs constant, an increase in the probability of a SMHI Spin-off to 100% would result in no value being assigned to the exchange option liability. The significant observable inputs used in the fair value measurement as of December 31 were as follows: 2016 2015 Price of Common Stock $ 71.28 $ 52.56 Risk-free interest rate 2.08 % 2.08 % Estimated Common Stock volatility 30.80 % 24.80 % Estimated SEACOR credit spread 5.63 % 8.26 % For the year ended December 31, 2016, the estimated fair value of the exchange option liability increased by $13.8 million primarily as a result of the increase in the price of Common Stock (see Notes 7 and 9). The estimated fair value of the Company’s other financial assets and liabilities as of December 31 were as follows (in thousands): Carrying Amount Level 1 Level 2 Level 3 2016 ASSETS Cash, cash equivalents and restricted cash $ 403,355 $ 403,355 $ — $ — Investments, at cost, in 50% or less owned companies (included in other assets) 4,432 see below Notes receivable from third parties (included in other receivables and other assets) 12,342 see below LIABILITIES Long-term debt, including current portion (1) 1,032,373 — 1,062,160 — 2015 ASSETS Cash and cash equivalents $ 530,009 $ 530,009 $ — $ — Investments, at cost, in 50% or less owned companies (included in other assets) 16,045 see below Notes receivable from third parties (included in other receivables and other assets) 24,587 see below LIABILITIES Long-term debt, including current portion (1) 1,070,390 — 1,043,576 — ______________________ (1) The estimated fair value includes the embedded conversion options on the Company’s 2.5% and 3.0% Convertible Senior Notes. The carrying value of cash, cash equivalents and restricted cash approximates fair value. The fair value of the Company’s long-term debt was estimated based upon quoted market prices or by using discounted cash flow analyses based on estimated current rates for similar types of arrangements. It was not practicable to estimate the fair value of certain 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 certain 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 that were measured at fair value during the years ended December 31 were as follows (in thousands): Level 1 Level 2 Level 3 2016 ASSETS Property and equipment: Anchor handling towing supply $ — $ 2,600 $ 42,500 Liftboats — — 62,830 Specialty — 4,000 — Other — 3,003 1,800 Goodwill — — 28,506 Investments, at cost, in 50% or less owned companies (included in other assets) — 3,600 — Investment, at equity, and advances in 50% or less owned companies — 3,438 48,150 Notes receivable from third parties (included in other assets) — — 11,900 2015 ASSETS Property and equipment $ — $ 200 $ — Investment, at equity, and advances in 50% or less owned companies 102,509 6,802 39,201 Property and equipment. During the year ended December 31, 2016 , the Company recognized impairment charges of $120.8 million associated with certain Offshore Marine Services’ offshore support vessels and certain Inland River Services’ equipment currently under construction (see Note 1). The Level 2 fair values were determined based on the contracted sales prices of the property and equipment, sales prices of similar property and equipment or scrap value, as applicable. The Level 3 fair values were determined based on third-party valuations using significant inputs that are unobservable in the market. Due to limited market transactions, the primary valuation methodology applied by the appraisers was an estimated cost approach less estimated economic depreciation for comparably aged and conditioned assets less estimated economic obsolescence based on market data or utilization and rates per day worked trending of the vessel class over the prior two years compared with 2014. The significant unobservable inputs used in the fair value measurement for the anchor handling towing supply fleet were the estimated construction costs for similar new equipment of $364.0 million , estimated economic fleet depreciation of 55% based on average expected remaining useful life and estimated economic obsolescence of 74% . The significant unobservable inputs used in the fair value measurement for the liftboat fleet were the estimated construction costs for similar new equipment of $279.0 million , estimated economic fleet depreciation of 42% based on average expected remaining useful life and estimated average economic obsolescence of 61% . During the year ended December 31, 2015 , the Company recognized impairment charges of $6.6 million related to the suspended construction of two offshore support vessels. The fair value of the construction in progress was determined based on the scrap value of the hulls. Goodwill. During the year ended December 31, 2016 , the Company recognized goodwill impairment charges of $19.6 million following a restructuring of Witt O’Brien’s (see Note 1). The fair value of Witt O’Brien’s was based on an appraisal performed in conjunction with the Company’s annual impairment test of goodwill on October 1, 2016 using significant inputs that are unobservable in the market and therefore are considered a Level 3 fair value measurement. The significant unobservable inputs used in the fair value measurement were industry transactions, cash flow projections and discount rates. The appraisal utilized both a market approach based on implied revenues and earnings multiples from industry transactions occurring in the prior five years and an income approach based on a discounted cash flow analysis of projected operating results, investment needs and capital expenditures, to establish value. The income approach was weighted more heavily based on the recent strategic growth program and management’s projected financial data. Under the income approach, fair value was determined by discounting the estimated future cash flows over a discrete period using an estimated weighted average cost of capital. The assumptions and estimates underlying the annual impairment assessment, such as the timing and extent of natural and man-made disasters, associated revenue and operating expenses are highly judgmental. Investments, at cost, in 50% or less owned companies. During the year ended December 31, 2016 , the Company identified indicators of impairment in a Shipping Services cost investment in a foreign container shipping company and an Other cost investment in a foreign industrial aircraft company and, as a consequence, recognized impairment charges of $11.6 million for an other-than-temporary decline in fair value. The Level 2 fair value of the Shipping Services cost investment was based on the value of the common stock issued in a recent offering. The Other cost investment was determined to have an immaterial value. Investments, at equity, and advances in 50% or less owned companies. During the year ended December 31, 2016 , the Company marked its investments to fair value in certain of its 50% or less owned companies as follows: • the Company identified indicators of impairment in one of Offshore Marine Services’ other equity method investments as a result of continuing weak market conditions and, as a consequence, recognized a $0.5 million impairment charge, net of tax, for an other-than-temporary decline in fair value. The investment was determined to have no value and the Company has suspended equity method accounting (see Note 4); • the Company identified indicators of impairment in its investment in Falcon Global as a result of continuing weak market conditions and, as a consequence, recognized a $6.4 million impairment charge, net of tax, for an other-than-temporary decline in fair value. Falcon Global’s primary assets consist of two liftboats in the final stages of construction and the estimated fair value of the liftboats was the primary input used by the Company in determining the fair value of its investment (see Note 4) and resulting impairment charge. The fair value of the liftboats was determined based on a third-party valuation using significant inputs that are unobservable in the market and therefore are considered a Level 3 fair value measurement. Due to limited market transactions, the primary valuation methodology applied by the appraisers was an estimated cost approach less economic obsolescence based on utilization and rates per day worked trending over the prior year in the Middle East region where the vessels are intended to operate. The significant unobservable inputs used in the fair value measurement were the estimated construction costs of similar new equipment and economic obsolescence of 25% ; • the Company identified indicators of impairment in its investment in SCFCo as a result of continuing losses and the expectation of continuing weak market conditions and, as a consequence, recognized a $7.7 million impairment charge for an other-than-temporary decline in the fair value of its investment. The fair value of the Company’s investment in SCFCo is estimated with significant inputs that are both observable and unobservable in the market and therefore is considered a Level 3 fair value measurement. The significant unobservable inputs used in the fair value measurement were an estimated earnings multiple of 7 x applied to 2017 forecasted cash flows before interest, taxes, depreciation and amortization (see Note 4); and • the Company marked its investment in SeaJon II to fair value as a consequence of acquiring its partner’s interest resulting in a $1.9 million impairment charge, net of tax, based on the fair value of the acquired interest (see Notes 2 and 4). During the year ended December 31, 2015 , the Company marked its investments to fair value in certain of its 50% or less owned companies as follows: • on December 21, 2015, the Company determined it no longer exercised significant influence over Dorian (see Note 4) and marked its investment, at equity, to fair value. The Level 1 fair value was determined based on the closing quoted market price for Dorian on that date; • the Company marked its equity investment in VA&E to fair value upon the deconsolidation of a previously controlled subsidiary following its contribution to VA&E. The Level 2 fair value was determined based on the value of the equity investment the Company received; and • the Company identified indicators of impairment in its investment in SCFCo as a result of continuing losses and the expectation of continuing weak market conditions and, as a consequence, recognized a $21.5 million impairment charge for an other-than-temporary decline in the fair value of its investment. The fair value of the Company’s investment in SCFCo is estimated with significant inputs that are both observable and unobservable in the market and therefore is considered a Level 3 fair value measurement. The significant unobservable inputs used in the fair value measurement were the construction and mobilization costs of similar new equipment, estimated economic depreciation for comparably aged assets and earnings multiples applied to historical and forecasted cash flows (see Note 4). Notes receivable from third parties. During the year ended December 31, 2016 , the Company recorded $8.5 million in reserves for two of its notes receivables from third parties following non-performance and a decline in the underlying collateral values. The collateral for a note receivable of $6.7 million was determined to have no value. The Company recorded a reserve of $1.8 million for the other note receivable based on a third-party valuation of the underlying collateral using significant inputs that are unobservable in the market and therefore are considered a Level 3 fair value measurement. Due to limited market transactions, the primary valuation methodology applied by the appraiser was an estimated cost approach less estimated economic depreciation for comparably aged assets and less estimated economic obsolescence. The significant unobservable inputs used in the fair value measurement were the estimated construction costs for similar new equipment, estimated economic depreciation of 33% and estimated economic obsolescence of 56% (see Note 6). |
Common Stock Common Stock (Note
Common Stock Common Stock (Notes) | 12 Months Ended |
Dec. 31, 2016 | |
Treasury Stock Transactions, Excluding Value of Shares Reissued [Abstract] | |
Common Stock Disclosure [Text Block] | 11. STOCK REPURCHASES SEACOR’s Board of Directors previously approved a securities repurchase plan that authorizes the Company to acquire its Securities, which may be acquired through open market purchases, privately negotiated transactions or otherwise, depending on market conditions. During the year ended December 31, 2016 , the Company acquired no shares of Common Stock for treasury under the Securities repurchase plan. During the years ended December 31, 2015 and 2014 , the Company acquired for treasury 1,162,955 and 2,531,324 shares of Common Stock, respectively, for an aggregate purchase price of $72.4 million and $195.3 million , respectively. On November 15, 2016 , SEACOR’s Board of Directors increased the Company’s repurchase authority for the Securities to $150.0 million . As of December 31, 2016 , SEACOR had remaining authorization for Securities repurchases of $147.0 million . During the years ended December 31, 2016 and 2015 , the Company acquired for treasury 47,455 and 40,859 shares of Common Stock, respectively, for aggregate purchase prices of $2.4 million and $3.0 million , respectively, from its employees to cover their tax withholding obligations upon the lapsing of restrictions on share awards. 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 and Chief Executive Officer. 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. |
Noncontrolling Interests in Sub
Noncontrolling Interests in Subsidiaries (Notes) | 12 Months Ended |
Dec. 31, 2016 | |
Noncontrolling Interest [Abstract] | |
Noncontrolling Interest Disclosure [Text Block] | 12. NONCONTROLLING INTERESTS IN SUBSIDIARIES Noncontrolling interests in the Company’s consolidated subsidiaries as of December 31 were as follows (in thousands): Noncontrolling Interests 2016 2015 Offshore Marine Services: Windcat Workboats 25% $ 5,266 $ 7,484 Other 1.8 % – 30.0% 277 470 Inland River Services: Other 3.0 % – 51.8% 980 1,146 Shipping Services: SEA-Vista 49% 106,054 88,290 Illinois Corn Processing 30% 22,647 22,272 Other 5.0 % – 14.6% 152 457 $ 135,376 $ 120,119 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, 2016 and 2015 , the net assets of Windcat Workboats were $21.1 million and $29.9 million , respectively. During the year ended December 31, 2016 , the net loss of Windcat Workboats was $4.5 million , of which $1.1 million was attributable to noncontrolling interests. During the year ended December 31, 2015 , the net income of Windcat Workboats was $1.6 million , of which $0.4 million was attributable to noncontrolling interests. During the 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. 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). SEA-Vista. On May 2, 2014, the Company issued a 49% noncontrolling interest to a financial investor in SEA-Vista for $145.7 million , net of $3.2 million in issue costs. SEA-Vista owns and operates the Company’s fleet of U.S.-flag product tankers used on the U.S. coastwise trade of crude oil, petroleum and specialty chemical products and holds a contract for the construction of one 50,000 DWT (deadweight tonnage) product tanker. As of December 31, 2016 and 2015 , the net assets of SEA-Vista were $216.4 million and $180.2 million , respectively. During the year ended December 31, 2016 , the net income of SEA-Vista was $36.3 million , of which $17.8 million was attributable to noncontrolling interests. During the year ended December 31, 2015 , the net income of SEA-Vista was $5.2 million , of which $2.6 million was attributable to noncontrolling interests. 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, 2016 and 2015 , the net assets of ICP were $75.5 million and $74.2 million , respectively. During the year ended December 31, 2016 , the net income of ICP was $12.3 million , of which $3.7 million was attributable to noncontrolling interests. During the year ended December 31, 2015 , the net income of ICP was $19.5 million , of which $5.9 million was attributable to noncontrolling interests. During the 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. 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. |
Savings Plans And Multiemployer
Savings Plans And Multiemployer Pension Plans | 12 Months Ended |
Dec. 31, 2016 | |
Deferred Compensation Arrangements [Abstract] | |
Savings Plans And Multiemployer Pension Plans | 13. 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 3.5% of an employee’s wages depending upon the employee’s level of voluntary wage deferral into the Savings Plan and is subject to annual review by the Board of Directors of SEACOR. The Company’s Savings Plan costs were $1.8 million , $3.8 million and $2.4 million for the years ended December 31, 2016 , 2015 and 2014 , respectively. SEACOR Marine Savings Plan. Beginning on January 1, 2016, SMHI provides a defined contribution plan (the “SMHI Savings Plan”) for its eligible U.S.-based employees. SMHI does not contribute to the SMHI Savings Plan. The SMHI Savings Plan costs for the year ended December 31, 2016 were not material. 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 six 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, 2016 and 2015 , the Company had obligations of $0.4 million and $0.3 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 2014, the Company was invoiced and expensed $19.4 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. The cumulative funding deficits of the MNRPF were being recovered by additional annual contributions from current employers that were subject to adjustment following the results of tri-annual actuarial valuations. Prior to 2014, the Company was invoiced and expensed $0.4 million for its allocated share of the then cumulative funding deficits. On February 25, 2015, the High Court approved a new deficit contribution scheme whereby any funding deficit of the MNRPF is to be remedied through funding contributions from all participating current and former employers. Based on an actuarial valuation in 2014, the cumulative funding deficit of the MNRPF was $491.7 million ( £325.0 million ). On August 28, 2015, the Company was invoiced and recognized payroll related operating expenses of $6.9 million ( £4.5 million ) for its allocated share of the cumulative funding deficit, including portions deemed uncollectible due to the non-existence or liquidation of certain former employers. The invoiced amounts are payable in four annual installments beginning in October of 2015. AMOPP and SPP. Certain subsidiaries of the Company are participating employers in two industry-wide, multi-employer defined benefit pension plans and one industry-wide, multi-employer defined contribution plan: the American Maritime Officers Pension Plan (the “AMOPP” - EIN: 13-1936709); the Seafarers Pension Plan (the “SPP” - EIN: 13-6100329); and the American Maritime Officers Defined Contribution Plan (the “AMODCP” - EIN: 27-1269640). 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, 2014, 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 $39.9 million . That liability may change in future years based on various factors, primarily employee census. As of December 31, 2016 , 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 2014 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 December 31, 2018, and the Seafarers International Union (“SIU”), the latest of which expires on September 30, 2018, 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 (loss). During the years ended December 31, 2016 , 2015 and 2014 , the Company made contributions of $1.4 million , $1.1 million and $1.1 million , respectively, to the AMOPP and AMO 401(k) Plan, and $1.9 million , $1.6 million and $1.5 million , respectively to the SPP. During the years ended December 31, 2016 , 2015 and 2014 , 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, 2016 , 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. Future negotiations of collective bargaining agreements between the Company and the participating unions, including the contribution levels for the defined benefit pension and contribution plans, may result in increases to the Company’s wage and benefit costs and those increases may be material. Other Plans. Certain employees participate in other defined contribution plans in various international regions including the United Kingdom and Singapore. During the years ended December 31, 2016 , 2015 and 2014 , the Company incurred costs of $0.7 million , $0.7 million and $0.7 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, 2016 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Share Based Compensation | 14. 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 date of 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: 2016 2015 2014 Restricted stock awards granted 137,258 135,150 150,145 Restricted stock awards forfeited (2,867 ) — (1,325 ) Director stock awards granted 3,125 3,375 2,625 Restricted Stock Unit Activities: Shares released from Deferred Compensation Plan — (217 ) (216 ) Stock Option Activities: Outstanding as of the beginning of year 1,690,899 1,546,508 1,481,280 Granted 197,550 192,350 199,100 Exercised (113,820 ) (40,461 ) (133,872 ) Forfeited (18,760 ) — — Expired (116,004 ) (7,498 ) — Outstanding as of the end of year 1,639,865 1,690,899 1,546,508 Employee Stock Purchase Plans shares issued 41,924 39,384 30,622 Shares available for issuance under Share Incentive and Employee Stock Purchase Plans as of the end of year 522,341 764,567 1,127,328 During the years ended December 31, 2016 , 2015 and 2014 , the Company recognized $14.1 million , $14.9 million and $15.3 million , respectively, of compensation expense related to stock awards, stock options, employee stock purchase plans purchases, restricted stock and restricted stock units (collectively referred to as “share awards”). As of December 31, 2016 , the Company had approximately $26.7 million in total unrecognized compensation costs of which $11.0 million and $8.3 million are expected to be recognized in 2017 and 2018 , respectively, with the remaining balance recognized through 2021 . The weighted average values of grants under the Company’s Share Incentive Plans were $31.31 , $41.09 and $53.03 for the years ended December 31, 2016 , 2015 and 2014 , respectively. The fair value of each option granted during the years ended December 31, 2016 , 2015 and 2014 , 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 26.5% , 25.2% and 29.4% , respectively, (c) weighted average discount rates of 1.59% , 1.79% and 1.85% , respectively, and (d) expected lives of 6.25 years, 6.03 years and 5.92 years, respectively. During the year ended December 31, 2016 , the number of shares and the weighted average grant price of restricted stock transactions were as follows: Restricted Stock Number of Shares Weighted Average Grant Price Nonvested as of December 31, 2015 387,878 $ 76.93 Granted 137,258 $ 51.10 Vested (141,457 ) $ 76.37 Forfeited (2,867 ) $ 64.49 Nonvested as of December 31, 2016 380,812 $ 67.92 During the years ended December 31, 2016 , 2015 and 2014 , the total grant date fair value of restricted stock that vested was $10.8 million , $10.8 million and $3.7 million , respectively. During the year ended December 31, 2016 , 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 Shares Weighted Average Grant Date Fair Value Number of Shares Weighted Average Exercise Price Number of Shares Weighted Average Exercise Price Outstanding, as of December 31, 2015 571,224 $ 22.83 1,119,675 $ 57.64 1,690,899 $ 62.70 Granted 197,550 $ 17.09 — $ — 197,550 $ 57.52 Vested (219,542 ) $ 22.98 219,542 $ 71.76 — $ — Exercised — $ — (113,820 ) $ 48.58 (113,820 ) $ 48.58 Forfeited (18,760 ) $ 22.72 — $ — (18,760 ) $ 71.90 Expired — $ — (116,004 ) $ 60.85 (116,004 ) $ 60.85 Outstanding, as of December 31, 2016 530,472 $ 20.63 1,109,393 $ 61.03 1,639,865 $ 63.09 During the years ended December 31, 2016 , 2015 and 2014 , the aggregate intrinsic value of exercised stock options was $1.4 million , $1.0 million and $5.1 million , respectively. As of December 31, 2016 , the weighted average remaining contractual term for total outstanding stock options and vested/exercisable stock options was 5.14 and 3.80 years, respectively. As of December 31, 2016 , the aggregate intrinsic value of all options outstanding and all vested/exercisable options outstanding was $17.2 million and $13.5 million , respectively. |
Related Party Transactions
Related Party Transactions | 12 Months Ended |
Dec. 31, 2016 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | 15. 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 and Chief Executive Officer of SEACOR, and trusts established 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. During the years ended December 31, 2016 , 2015 and 2014 , Mr. Fabrikant and his affiliates earned $0.8 million , $1.3 million and $1.7 million , respectively, of net barge pool results (after payment of $0.1 million , $0.1 million and $0.2 million , respectively, in management fees to the Company). As of December 31, 2016 and 2015 , the Company owed Mr. Fabrikant and his affiliates $0.5 million and $0.6 million , respectively, for undistributed net barge pool results. ICP manufactures and sells certain non-ethanol alcohol finished goods to the noncontrolling interest partner in ICP. During the years ended December 31, 2016 , 2015 and 2014 , the Company sold $27.7 million , $38.9 million and $36.3 million , respectively to the noncontrolling interest partner. As of December 31, 2016 and 2015 , ICP had accounts receivable of $3.4 million and $2.4 million from the noncontrolling interest partner. In December 2014 and January 2015, Mr. Fabrikant, Mr. Lorentzen, SEACOR's then CEO, and Mr. Gellert invested in newly formed limited liability companies that acquired limited partnership interests in OSV Partners from two limited partners of OSV Partners 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. The aggregate interests of OSV Partners acquired indirectly by Messrs. Fabrikant, Lorentzen and Gellert represents 1.7% of the limited partnership interests of OSV Partners. Certain subsidiaries of SEACOR own 30.4% of OSV Partners’ limited partnership interests and the balance of such interests are owned by unaffiliated third parties. The general partner of OSV Partners 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 during the years ended December 31, 2016 , 2015 and 2014 . Mr. Fabrikant is also a director of Era Group, which is also a customer of the Company. The Company has provided certain transition services to Era Group related to the Era Spin-off and the total amount earned from business conducted with Era Group, including transition services provided, did not exceed $5.0 million during the years ended December 31, 2016 , 2015 and 2014 . The Company ceased providing transition services to Era Group in June 2015. |
Commitments And Contingencies
Commitments And Contingencies | 12 Months Ended |
Dec. 31, 2016 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments And Contingencies | 16. COMMITMENTS AND CONTINGENCIES The Company's capital commitments as of December 31, 2016 by year of expected payment were as follows (in thousands): 2017 2018 2019 2020 Total Offshore Marine Services $ 29,272 $ 50,555 $ 13,223 $ 1,800 $ 94,850 Shipping Services 55,430 — — — 55,430 Inland River Services 30,102 — — — 30,102 Illinois Corn Processing 1,678 375 — — 2,053 $ 116,482 $ 50,930 $ 13,223 $ 1,800 $ 182,435 Offshore Marine Services’ capital commitments included nine fast support vessels, three supply vessels and one wind farm utility vessel. These commitments included $15.4 million for one supply vessel that may be assumed by a third party at their option. Shipping Services' capital commitments included one U.S.-flag product tanker, one U.S.-flag chemical and petroleum articulated tug-barge, three U.S.-flag harbor tugs and two foreign-flag harbor tugs. Inland River Services’ capital commitments included one 30,000 barrel inland river liquid tank barge and three inland river towboats. Subsequent to December 31, 2016 , the Company committed to purchase $0.8 million of additional property and equipment. During 2012, the Company sold National Response Corporation (“NRC”), NRC Environmental Services Inc., SEACOR Response Ltd., and certain other subsidiaries to J.F. Lehman & Company, a leading, middle-market private equity firm (the “SES Business Transaction”). On December 15, 2010, ORM and NRC were named as defendants in one of the several “master complaints” filed in the overall multi-district litigation relating to the Deepwater Horizon oil spill response and clean-up in the Gulf of Mexico pending in the U.S. District Court for the Eastern District of Louisiana (the “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. Both prior to and following the filing of the aforementioned master complaint, individual civil actions naming the Company, ORM, and/or NRC alleging B3 exposure-based injuries and/or damages were consolidated with the MDL and stayed pursuant to court order, discussed in turn below. The Company has continually taken the position that all of the B3 claims asserted against ORM and NRC have no merit. On February 16, 2016, all but eleven B3 claims against ORM and NRC were dismissed with prejudice, whether by joinder in the master complaint, individual complaint, or otherwise (the “B3 Dismissal Order”). The deadline for Plaintiffs to appeal the B3 Dismissal Order has passed and the Company continues to evaluate how this ruling will impact the individual civil actions. On April 8, 2016, the Court entered an order establishing a summary judgment briefing schedule as to the remaining eleven B3 claimants (the “Remaining Eleven Plaintiffs”). The Clean-Up Responder Defendants, including ORM and NRC, filed an omnibus motion for summary judgment as to the Remaining Eleven Plaintiffs on May 9, 2016. Following briefing by the parties, on August 2, 2016, the Court granted the omnibus motion as it concerns ORM and NRC in its entirety, dismissing the Remaining Eleven Plaintiffs’ against ORM and NRC with prejudice (the “Remaining Eleven Plaintiffs’ Dismissal Order”). To date, no appeal has been filed and the deadline to appeal has expired. As noted above, various civil actions concerning the Deepwater Horizon clean-up have been consolidated with the MDL and stayed. 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.) (the “ Johnson Action”), 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 March 29, 2016, the Court issued a pretrial order for disclosures clarifying the basis for the non-governmental economic property damage claims asserted in the MDL, termed the “B1” claims, and ordered plaintiffs to come forward with specific information in a sworn statement in support of their claims. On July 14, 2016, the Court dismissed all claimants who had failed to comply with the terms of the aforementioned pretrial order, and the plaintiff in the Johnson Action failed to submit the requisite sworn statement. Liaison Counsel confirmed the dismissal of the Johnson Action in a Status Report submitted to the Court on February 14, 2017. 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.) (the “ Black Action”), which is a suit by an individual who is seeking damages for, among other things, lost income because he allegedly could not find work in the fishing industry after the oil spill and exposure during the spill. The B3 exposure claims against ORM and NRC in the Black Action have been dismissed by virtue of the B3 Dismissal Order. 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. Ms. Sanchez’s B3 claim against ORM has been dismissed by virtue of the B3 Dismissal Order. 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.) (the “ Dillon Action”), 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 March 28, 2017 the Court entered an order dismissing, with prejudice, plaintiffs claims asserted in the Dillon action against ORM. 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.) (the “ Fitzgerald Action”), 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. While the decedent in the Fitzgerald Action’s claims against ORM and NRC were dismissed by virtue of the Remaining Eleven Plaintiffs’ Dismissal Order, the claim as against the Company remains stayed. The Company continues to evaluate the impact of the B3 Dismissal Order, the Remaining Eleven Plaintiffs’ Dismissal Order, and other developments in the MDL, including the settlements discussed below, on these individual actions. A status conference with the Court took place on February 17, 2017 and the Court indicated it will be issuing new pretrial orders in connection with the remaining claims in the MDL. The Company is unable to estimate the potential exposure, if any, resulting from these matters, to the extent they remain viable, 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. The remainder of the aforementioned cross-claims in Transocean's limitation action remain 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. This case was removed to federal court and ultimately 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. This case was consolidated with the MDL on May 10, 2013. By court order, both of these matters have been stayed since they were consolidated with the MDL. The Company continues to evaluate the impact of the developments in the MDL, including the settlements discussed below, on these cases, but believes that the potential exposure, if any, resulting from these matters has been reduced as a result of the B3 Dismissal Order 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. Both settlements were granted final approval by the Court, all appeals have concluded, and the deadline for submitting claims with respect to both settlements has passed. 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, 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 potential exposure, if any, from some of the pending actions described above, and continues to evaluate the settlements’ impacts on these cases. 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 consolidated statements of income (loss). In the normal course of its business, the Company becomes involved in various other litigation matters including, among other things, claims by third parties for alleged property damages and personal injuries. Management has used estimates in determining the Company’s potential exposure to these matters and has recorded reserves in its financial statements related thereto where appropriate. It is possible that a change in the Company’s estimates of that exposure could occur, but the Company does not expect such changes in estimated costs would have a material effect on the Company’s consolidated financial position, results of operations or cash flows. As of December 31, 2016 , the Company leases eight offshore support vessels, four inland river towboats, six inland river harbor boats, 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 69 and 85 months. The lease terms of the other equipment range in duration from one to 17 years. Certain of the equipment leases are the result of sale-leaseback transactions with finance companies (see Note 3) 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 2016 , 2015 and 2014 was $54.6 million , $59.9 million and $66.8 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, 2016 were as follows (in thousands): Total Minimum Payments Non-cancelable Subleases (1) Net Minimum Payments 2017 $ 59,014 $ (17,345 ) $ 41,669 2018 58,772 (17,345 ) 41,427 2019 43,836 (17,345 ) 26,491 2020 38,570 (17,392 ) 21,178 2021 28,386 (17,345 ) 11,041 Years subsequent to 2021 31,267 (24,045 ) 7,222 ____________________ (1) The total minimum offsetting payments to be received under existing long-term bareboat charter-out arrangements. |
Major Customers And Segment Inf
Major Customers And Segment Information | 12 Months Ended |
Dec. 31, 2016 | |
Segment Reporting [Abstract] | |
Major Customers And Segment Information | 17. MAJOR CUSTOMERS AND SEGMENT INFORMATION The following tables summarize the operating results, capital expenditures and assets of the Company’s reportable segments. Offshore Marine Services $’000 Inland River Services $’000 Shipping Services $’000 ICP (1)(2) $’000 Witt O’Brien’s $’000 Other $’000 Corporate and Eliminations $’000 Total $’000 For the year ended December 31, 2016 Operating Revenues: External customers 215,536 165,140 229,643 177,401 42,783 482 — 830,985 Intersegment 100 2,403 — — 133 — (2,636 ) — 215,636 167,543 229,643 177,401 42,916 482 (2,636 ) 830,985 Costs and Expenses: Operating 166,925 124,460 122,631 158,495 28,561 — (3,259 ) 597,813 Administrative and general 49,308 14,616 27,825 3,011 16,214 1,001 26,606 138,581 Depreciation and amortization 58,069 26,327 31,162 4,299 1,539 — 3,537 124,933 274,302 165,403 181,618 165,805 46,314 1,001 26,884 861,327 Gains (Losses) on Asset Dispositions and Impairments, Net (116,222 ) 3,193 411 — (29,587 ) — — (142,205 ) Operating Income (Loss) (174,888 ) 5,333 48,436 11,596 (32,985 ) (519 ) (29,520 ) (172,547 ) Other Income (Expense): Derivative gains (losses), net 2,995 — — 911 — — (14,131 ) (10,225 ) Foreign currency gains (losses), net (3,312 ) 1,722 (18 ) — (181 ) (1 ) (78 ) (1,868 ) Other, net (1,490 ) (4 ) (6,224 ) — — (12,608 ) 120 (20,206 ) Equity in Earnings (Losses) of 50% or Less Owned Companies, Net of Tax (6,314 ) (15,944 ) (4,697 ) — 305 (704 ) — (27,354 ) Segment Profit (Loss) (183,009 ) (8,893 ) 37,497 12,507 (32,861 ) (13,832 ) Other Income (Expense) not included in Segment Profit (57,402 ) Less Equity in Losses included in Segment Profit 27,354 Loss Before Taxes and Equity Earnings (262,248 ) Capital Expenditures 100,884 36,803 215,837 4,723 2 — 164 358,413 As of December 31, 2016 Property and Equipment: Historical cost 958,759 419,714 727,602 56,708 1,559 — 29,681 2,194,023 Accumulated depreciation (540,619 ) (167,127 ) (258,004 ) (23,689 ) (1,244 ) — (18,184 ) (1,008,867 ) 418,140 252,587 469,598 33,019 315 — 11,497 1,185,156 Construction in progress 123,801 13,003 233,214 701 — — (207 ) 370,512 541,941 265,590 702,812 33,720 315 — 11,290 1,555,668 Investments, at Equity, and Advances to 50% or Less Owned Companies 138,311 69,181 51,620 — 566 54,094 — 313,772 Inventories 3,058 1,602 843 11,133 137 — — 16,773 Goodwill — 2,400 1,852 — 28,506 — — 32,758 Intangible Assets — 12,018 — — 8,060 — — 20,078 Other current and long-term assets, excluding cash and near cash assets (3) 72,810 88,165 29,801 11,850 14,284 11,193 21,576 249,679 Segment Assets 756,120 438,956 786,928 56,703 51,868 65,287 Cash and near cash assets (3) 673,593 Total Assets 2,862,321 ______________________ (1) Operating revenues includes $167.0 million of tangible product sales and operating expenses includes $148.2 million of costs of goods sold. (2) Inventories include raw materials of $1.8 million and work in process of $1.5 million . (3) Cash and near cash assets includes cash, cash equivalents, restricted cash, marketable securities and construction reserve funds. Offshore Marine Services $’000 Inland River Services $’000 Shipping Services $’000 ICP (1)(2) $’000 Witt O’Brien’s $’000 Other $’000 Corporate and Eliminations $’000 Total $’000 For the year ended December 31, 2015 Operating Revenues: External customers 368,744 227,601 227,142 166,905 49,838 14,506 — 1,054,736 Intersegment 124 2,881 — — 146 — (3,151 ) — 368,868 230,482 227,142 166,905 49,984 14,506 (3,151 ) 1,054,736 Costs and Expenses: Operating 275,972 168,015 129,039 143,967 21,899 13,054 (3,341 ) 748,605 Administrative and general 53,085 15,567 26,215 2,307 24,096 2,546 32,795 156,611 Depreciation and amortization 61,729 28,632 26,296 3,902 1,711 5 3,712 125,987 390,786 212,214 181,550 150,176 47,706 15,605 33,166 1,031,203 Gains (Losses) on Asset Dispositions and Impairments, Net (17,017 ) 14,868 — — (27 ) (232 ) — (2,408 ) Operating Income (Loss) (38,935 ) 33,136 45,592 16,729 2,251 (1,331 ) (36,317 ) 21,125 Other Income (Expense): Derivative gains (losses), net (2,766 ) 294 — (1,251 ) — (472 ) 2,099 (2,096 ) Foreign currency losses, net (27 ) (3,726 ) (30 ) — (36 ) (11 ) (922 ) (4,752 ) Other, net 261 — 2,053 4,112 19 33 295 6,773 Equity in Earnings (Losses) of 50% or Less Owned Companies, Net of Tax 8,757 (31,200 ) (18,782 ) — 135 676 — (40,414 ) Segment Profit (Loss) (32,710 ) (1,496 ) 28,833 19,590 2,369 (1,105 ) Other Income (Expense) not included in Segment Profit (51,848 ) Less Equity Losses included in Segment Profit 40,414 Loss Before Taxes and Equity Earnings (30,798 ) Capital Expenditures 87,765 69,736 134,581 4,712 409 — (1,273 ) 295,930 As of December 31, 2015 Property and Equipment: Historical cost 1,102,619 485,144 454,144 47,256 3,338 — 30,700 2,123,201 Accumulated depreciation (546,962 ) (171,271 ) (239,076 ) (19,390 ) (2,834 ) — (14,648 ) (994,181 ) 555,657 313,873 215,068 27,866 504 — 16,052 1,129,020 Construction in progress 97,900 17,807 335,113 5,430 — — (1,645 ) 454,605 653,557 331,680 550,181 33,296 504 — 14,407 1,583,625 Investments, at Equity, and Advances to 50% or Less Owned Companies 130,010 81,363 64,499 — 344 54,887 — 331,103 Inventories 4,000 1,493 701 18,574 — — — 24,768 Goodwill — 2,364 1,852 — 48,124 — — 52,340 Intangible Assets 1,049 5,961 — — 19,382 — — 26,392 Other current and long-term assets, excluding cash and near cash assets (3) 97,488 72,180 28,359 7,739 14,780 16,014 7,014 243,574 Segment Assets 886,104 495,041 645,592 59,609 83,134 70,901 Cash and near cash assets (3) 923,617 Total Assets 3,185,419 ______________________ (1) Operating revenues includes $154.8 million of tangible product sales and operating expenses includes $131.9 million of costs of goods sold. (2) Inventories include raw materials of $2.1 million and work in process of $1.5 million . (3) Cash and near cash assets includes cash, cash equivalents, marketable securities and construction reserve funds. Offshore Marine Services $’000 Inland River Services $’000 Shipping Services $’000 ICP (1)(2) $’000 Witt O’Brien’s $’000 Other $’000 Corporate and Eliminations $’000 Total $’000 For the year ended December 31, 2014 Operating Revenues: External customers 529,761 249,288 214,316 236,293 27,691 62,045 — 1,319,394 Intersegment 183 3,862 — — — — (4,045 ) — 529,944 253,150 214,316 236,293 27,691 62,045 (4,045 ) 1,319,394 Costs and Expenses: Operating 365,092 174,918 112,771 187,849 12,978 59,666 (3,902 ) 909,372 Administrative and general 58,353 15,937 24,518 2,177 19,180 5,957 38,816 164,938 Depreciation and amortization 64,615 29,435 28,420 4,119 1,045 284 3,901 131,819 488,060 220,290 165,709 194,145 33,203 65,907 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 (5,512 ) (4,939 ) (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 ) — (53 ) (102 ) (1,430 ) (6,335 ) Other, net 14,671 (38 ) (3,630 ) 660 (5,056 ) (3,097 ) (71 ) 3,439 Equity in Earnings (Losses) of 50% or Less Owned Companies, Net of Tax 10,468 6,673 (661 ) — (465 ) 294 — 16,309 Segment Profit (Loss) 92,022 65,817 44,435 39,031 (11,086 ) (7,574 ) Other Income (Expense) not included in Segment Profit 4,790 Less Equity Earnings included in Segment Profit (16,309 ) Income Before Taxes and Equity Earnings 163,235 Capital Expenditures 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 3,342 271 30,161 2,086,957 Accumulated depreciation (500,007 ) (159,532 ) (213,072 ) (15,488 ) (3,002 ) (247 ) (10,936 ) (902,284 ) 560,979 331,547 240,790 31,768 340 24 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 32,486 340 258 19,369 1,502,673 Investments, at Equity, and Advances to 50% or Less Owned Companies 115,436 103,688 222,420 — 524 42,089 — 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 26,131 45,547 7,670 342,630 Segment Assets 913,703 573,577 691,848 55,194 95,997 90,371 Cash and near cash assets (3) 786,644 Total Assets 3,234,373 ______________________ (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. During the years ended December 31, 2016 , 2015 and 2014 , 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, 2016 , 2015 and 2014 , approximately 29% , 29% and 30% , 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): 2016 2015 2014 Operating Revenues: United States $ 590,310 $ 751,548 $ 925,750 Africa, primarily West Africa 37,764 57,268 70,743 Europe, primarily North Sea 82,730 104,042 112,644 Middle East and Asia 54,950 65,045 69,598 Brazil, Mexico, Central and South America 64,837 76,404 140,460 Other 394 429 199 $ 830,985 $ 1,054,736 $ 1,319,394 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): 2016 2015 2014 Property and Equipment: United States $ 1,185,917 $ 1,181,586 $ 1,120,765 Africa, primarily West Africa 75,772 73,406 82,495 Europe, primarily North Sea 83,767 72,544 75,382 Middle East and Asia 99,974 129,476 84,598 Brazil, Mexico, Central and South America 110,238 126,613 139,433 $ 1,555,668 $ 1,583,625 $ 1,502,673 |
Supplemental Information For St
Supplemental Information For Statements Of Cash Flows | 12 Months Ended |
Dec. 31, 2016 | |
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): 2016 2015 2014 Income taxes paid $ 11,933 $ 23,791 $ 52,348 Income taxes refunded 3,933 4,550 2,055 Interest paid, excluding capitalized interest 26,662 23,957 24,719 Schedule of Non-Cash Investing and Financing Activities: Company financed sale of equipment and real property 7,950 1,768 45,305 Reclassification of Dorian to marketable securities — 102,509 — Services received to settle notes receivable — 2,500 — Equipment received to settle notes receivable 14,400 — — Non-cash proceeds on the sale of property and equipment 2,000 — — |
Quarterly Financial Information
Quarterly Financial Information | 12 Months Ended |
Dec. 31, 2016 | |
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, 2016 Operating Revenues $ 213,036 $ 206,983 $ 197,038 $ 213,928 Operating Loss (99,364 ) (33,016 ) (30,151 ) (10,016 ) Net Loss (90,289 ) (34,026 ) (50,933 ) (20,524 ) Net Loss attributable to SEACOR Holdings Inc. (93,749 ) (39,803 ) (55,159 ) (27,186 ) Basic Loss Per Common Share of SEACOR Holdings Inc. $ (5.52 ) $ (2.35 ) $ (3.26 ) $ (1.62 ) Diluted Loss Per Common Share of SEACOR Holdings Inc. $ (5.52 ) $ (2.35 ) $ (3.26 ) $ (1.62 ) 2015 Operating Revenues $ 250,631 $ 261,852 $ 281,609 $ 260,644 Operating Income (Loss) (928 ) 28,221 7,499 (13,667 ) Net Income (Loss) (49,853 ) 16,405 (8,501 ) (17,901 ) Net Income (Loss) attributable to SEACOR Holdings Inc. (56,865 ) 6,965 687 (19,569 ) Basic Earnings (Loss) Per Common Share of SEACOR Holdings Inc. $ (3.36 ) $ 0.40 $ 0.04 $ (1.10 ) Diluted Earnings (Loss) Per Common Share of SEACOR Holdings Inc. $ (3.36 ) $ 0.40 $ 0.04 $ (1.10 ) |
Valuation And Qualifying Accoun
Valuation And Qualifying Accounts | 12 Months Ended |
Dec. 31, 2016 | |
Valuation and Qualifying Accounts [Abstract] | |
Valuation And Qualifying Accounts | SEACOR HOLDINGS INC. SCHEDULE II – VALUATION AND QUALIFYING ACCOUNTS For the Years Ended December 31, 2016 , 2015 and 2014 (in thousands) Description Balance Beginning of Year Charges (Credits) to Cost and Expenses Deductions (1) Other (2) Balance End of Year Year Ended December 31, 2016 Allowance for doubtful accounts (deducted from trade and notes receivable) $ 2,483 $ 7,054 $ (1,190 ) $ — $ 8,347 Inventory allowance (deducted from inventory) $ 670 $ (662 ) $ — $ — $ 8 Year Ended December 31, 2015 Allowance for doubtful accounts (deducted from trade and notes receivable) $ 3,162 $ 842 $ (997 ) $ (524 ) $ 2,483 Inventory allowance (deducted from inventory) $ — $ 670 $ — $ — $ 670 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) $ 26 $ (26 ) $ — $ — $ — ______________________ (1) Trade receivable amounts deemed uncollectible that were removed from accounts receivable and allowance for doubtful accounts. (2) Other consists of balances from the consolidation or deconsolidation of certain Company subsidiaries. |
Nature Of Operations And Acco27
Nature Of Operations And Accounting Policies (Policy) | 12 Months Ended |
Dec. 31, 2016 | |
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. Certain reclassifications of prior year information have been made to conform to the current year’s reportable segment presentation (see Note 17) as a result of Witt O’Brien’s, LLC (“Witt O’Brien’s”) meeting certain quantitative thresholds in 2016. The Company has identified the following reporting segments: Offshore Marine Services. Offshore Marine Services operates a diverse fleet of support vessels primarily servicing major integrated national and international oil companies, large independent oil and gas exploration and production companies and emerging independent companies. These vessels deliver cargo and personnel to offshore installations; provide field security services; 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, inspection 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 liftboats in the U.S. Gulf of Mexico that primarily support 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 26% , 35% and 40% of consolidated operating revenues in 2016 , 2015 and 2014 , respectively. Inland River Services. Inland River Services operates domestic river transportation equipment used for moving agricultural and industrial commodities and containers 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 liquid tank barge operations on the Magdalena River in Colombia primarily transporting petroleum products and dry-cargo barge operations on the Parana-Paraguay River Waterways in Brazil, Bolivia, Paraguay, Argentina and Uruguay primarily transporting agricultural and industrial commodities. 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 U.S. Inland River Waterways; a broad range of service facilities including machine shop 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 20% , 22% and 19% of consolidated operating revenues in 2016 , 2015 and 2014 , respectively. Shipping Services. Shipping Services operates a diversified fleet of U.S.-flag marine transportation related assets, including its 51% controlling interest (see Note 12) in certain subsidiaries (collectively “SEA-Vista”) that operate 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. 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 28% , 21% and 16% of consolidated operating revenues in 2016 , 2015 and 2014 , 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 and produces non-food grade Corn Oil primarily used for feedstock in biodiesel production. The Company owns a 70% interest in ICP (see Note 12). ICP contributed 21% , 16% and 18% of consolidated operating revenues in 2016 , 2015 and 2014 . Witt O’Brien’s. Witt O’Brien’s provides resilience solutions for key areas of critical infrastructure, including, but not limited to, government, energy, transportation, healthcare and education, in the United States and abroad. Witt O’Brien’s protects and enhances its customers’ enterprise value by strengthening their ability to prepare for, respond to and recover from natural and man-made disasters, including hurricanes, infectious disease, terrorism, cyber breaches, oil spills, shipping incidents and other disruptions. Witt O’Brien’s contributed 5% , 5% and 2% of consolidated operating revenues in 2016 , 2015 and 2014 . Other. The Company also has activities that are referred to and described under Other, which primarily include lending and leasing activities and noncontrolling investments in various other businesses, primarily industrial aviation services businesses in Asia and an agricultural commodity trading and logistics business that is primarily focused on the global origination, trading and merchandising of sugar. |
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 (loss) 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 (loss) 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 (loss) 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): 2016 2015 2014 Balance at beginning of year $ 6,953 $ 6,794 $ 6,592 Revenues deferred during the year — 159 202 Balance at end of year $ 6,953 $ 6,953 $ 6,794 As of December 31, 2016 , deferred revenues of $6.8 million 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 May 19, 2012 are subject to creditors’ claims in bankruptcy court. The Company will recognize revenues when reasonably assured of a judgment in its favor. 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 dock and undock 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. Witt O’Brien’s earns revenues primarily from emergency response and debris management incidents, retainer and consulting services. Emergency response and debris management revenues are recognized as services are provided. Revenues from short term remediation services and longer term customer staff augmentation services for remediation and claims management are dependent on the magnitude and number of incidents. Retainer agreements with vessel and facility owners and operators generally have evergreen terms and are typically invoiced on an annual basis. Such retainer fees are generally recognized ratable over the term of the coverage period. Consulting services are performed in accordance with retainer agreements or specific contract terms. Revenues are recognized based on contractual terms, generally on a time and material basis with revenues recognized as the services are provided or on a fixed fee basis with revenues and expenses recognized upon completion of the contract or specific task. |
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 related to cash collateral for letters of credit and banking facility requ |
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, as determined by their market observable prices, with both realized and unrealized gains and losses reported in the accompanying consolidated statements of income (loss) as marketable security gains (losses), 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 (loss) as marketable security gains (losses), net. Long and short marketable security positions are primarily in energy, marine, transportation and other related businesses. Marketable securities are classified as trading securities for financial reporting purposes with gains and losses reported as operating activities in the accompanying consolidated statements of cash flows. The Company’s most significant marketable security position is its investment in 9,177,135 shares of Dorian LPG Ltd. (“Dorian”), a publicly traded company listed on the New York Stock Exchange under the symbol “LPG” (see Note 4). Dorian’s closing share price was $8.21 and $11.77 as of December 31, 2016 and 2015, respectively. The Company’s cost basis in Dorian is $13.66 per share. |
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 and petroleum. 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 (loss) as derivative losses, net. Realized and unrealized gains and losses on derivatives designated as fair value hedges are recognized as corresponding increases or decreases in the fair value of the underlying hedged item to the extent they are effective, with any ineffective portion reported in the accompanying consolidated statements of income (loss) 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 (loss) 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 (loss) 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 (loss). |
Concentrations Of Credit Risk | Concentrations of Credit Risk. The Company is exposed to concentrations of credit risk associated with its cash and cash equivalents, construction 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. 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, 2016 , 2015 and 2014 , the Company recorded market write-downs of $2.7 million , $3.0 million and $0.4 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, 2016 , 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 and harbor boats 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 Cost (1) Accumulated Depreciation Net Book Value 2016 Offshore Marine Services: Anchor handling towing supply $ 228,857 $ (183,757 ) $ 45,100 Fast support 251,415 (72,599 ) 178,816 Supply 96,774 (58,028 ) 38,746 Standby safety 109,436 (88,020 ) 21,416 Specialty 45,765 (24,063 ) 21,702 Liftboats 104,356 (45,447 ) 58,909 Wind farm utility 60,671 (29,019 ) 31,652 Machinery and spares 32,921 (20,008 ) 12,913 Other (2) 28,564 (19,678 ) 8,886 958,759 (540,619 ) 418,140 Inland River Services: Dry-cargo barges 246,237 (97,602 ) 148,635 Liquid tank barges 16,114 (1,982 ) 14,132 Towboats 14,675 (1,320 ) 13,355 Harbor boats 17,338 (5,715 ) 11,623 Specialty and deck barges 12,292 (4,869 ) 7,423 Terminal and fleeting facilities 94,913 (48,981 ) 45,932 Other (2) 18,145 (6,658 ) 11,487 419,714 (167,127 ) 252,587 Shipping Services: Product tankers - U.S.-flag 546,019 (189,536 ) 356,483 Harbor and offshore tugs - U.S.-flag 72,877 (34,606 ) 38,271 Harbor tugs - Foreign-flag 29,689 (9,480 ) 20,209 Ocean liquid tank barges - U.S.-flag 39,238 (11,604 ) 27,634 Short-sea container\RORO - Foreign-flag 20,954 (6,774 ) 14,180 Other (2) 18,825 (6,004 ) 12,821 727,602 (258,004 ) 469,598 Illinois Corn Processing: Manufacturing facilities 55,028 (23,689 ) 31,339 Land 1,680 — 1,680 56,708 (23,689 ) 33,019 Witt O’Brien’s: Other (2) 1,559 (1,244 ) 315 Corporate and Eliminations: Other (2) 29,681 (18,184 ) 11,497 $ 2,194,023 $ (1,008,867 ) $ 1,185,156 ______________________ (1) Includes property and equipment acquired in business acquisitions at acquisition date fair value, and net of the impact of recognized impairment charges. (2) Includes land and buildings, leasehold improvements, fixed-wing aircraft, vehicles and other property and equipment. Historical Cost (1) Accumulated Depreciation Net Book Value 2015 Offshore Marine Services: Anchor handling towing supply $ 301,707 $ (168,534 ) $ 133,173 Fast support 222,720 (61,515 ) 161,205 Supply 139,315 (80,862 ) 58,453 Standby Safety 141,864 (113,136 ) 28,728 Specialty 46,522 (21,224 ) 25,298 Liftboats 122,764 (36,154 ) 86,610 Wind farm utility 66,950 (26,773 ) 40,177 Machinery and spares 34,116 (19,480 ) 14,636 Other (2) 26,661 (19,284 ) 7,377 1,102,619 (546,962 ) 555,657 Inland River Services: Dry-cargo barges 226,916 (86,068 ) 140,848 Liquid tank barges 61,175 (14,638 ) 46,537 Towboats 67,265 (15,670 ) 51,595 Harbor boats 10,206 (5,136 ) 5,070 Specialty and deck barges 12,293 (3,992 ) 8,301 Terminal and fleeting facilities 90,379 (40,890 ) 49,489 Other (2) 16,910 (4,877 ) 12,033 485,144 (171,271 ) 313,873 Shipping Services: Product tankers - U.S.-flag 271,141 (168,838 ) 102,303 Harbor and offshore tugs - U.S.-flag 72,073 (37,418 ) 34,655 Harbor tugs - Foreign-flag 29,689 (8,291 ) 21,398 Ocean liquid tank barges - U.S.-flag 39,238 (10,175 ) 29,063 Short-sea container\RORO - Foreign-flag 20,954 (5,369 ) 15,585 Other (2) 21,049 (8,985 ) 12,064 454,144 (239,076 ) 215,068 Illinois Corn Processing: Manufacturing facilities 45,576 (19,390 ) 26,186 Land 1,680 — 1,680 47,256 (19,390 ) 27,866 Witt O’Brien’s: Other (2) 3,338 (2,834 ) 504 Corporate and Eliminations: Other (2) 30,700 (14,648 ) 16,052 $ 2,123,201 $ (994,181 ) $ 1,129,020 ______________________ (1) Includes property and equipment acquired in business acquisitions at acquisition date fair value, and net of the impact of recognized impairment charges. (2) Includes land and buildings, leasehold improvements, fixed-wing aircraft, vehicles and other property and equipment. Depreciation expense totaled $122.5 million , $122.9 million and $127.6 million in 2016 , 2015 and 2014 , 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 $18.5 million , $18.5 million and $17.0 million in 2016 , 2015 and 2014 , 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, 2016 , 2015 , and 2014 , the Company recognized amortization expense of $2.5 million , $3.1 million and $4.3 million , respectively. The Company’s intangible assets by type were as follows (in thousands): Trademark/ Tradenames Customer Relationships Software/ Technology Acquired Contractual Rights Total Gross Carrying Value Year Ended December 31, 2014 $ 10,681 $ 48,570 $ 1,652 $ 2,985 $ 63,888 Purchase price adjustments to acquired intangible assets (1,024 ) (2,133 ) — — (3,157 ) Foreign currency translation — — — (78 ) (78 ) Fully amortized intangible assets (4,737 ) (22,700 ) — — (27,437 ) Year Ended December 31, 2015 4,920 23,737 1,652 2,907 33,216 Acquired intangible assets — 1,598 — 5,500 7,098 Foreign currency translation — — — 9 9 Impairment of intangible assets (1,596 ) (8,128 ) (1,220 ) — (10,944 ) Fully amortized intangible assets — — (432 ) — (432 ) Year Ended December 31, 2016 $ 3,324 $ 17,207 $ — $ 8,416 $ 28,947 Accumulated Amortization Year Ended December 31, 2014 $ (5,429 ) $ (24,179 ) $ (96 ) $ (1,457 ) $ (31,161 ) Amortization expense (624 ) (2,543 ) (192 ) 259 (3,100 ) Fully amortized intangible assets 4,737 22,700 — — 27,437 Year Ended December 31, 2015 (1,316 ) (4,022 ) (288 ) (1,198 ) (6,824 ) Amortization expense (332 ) (1,687 ) (144 ) (314 ) (2,477 ) Fully amortized intangible assets — — 432 — 432 Year Ended December 31, 2016 $ (1,648 ) $ (5,709 ) $ — $ (1,512 ) $ (8,869 ) Weighted average remaining contractual life, in years 5.0 9.2 0.0 8.4 8.6 Future amortization expense of intangible assets for each of the years ended December 31 is as follows (in thousands): 2017 $ 2,346 2018 2,173 2019 2,227 2020 2,227 2021 2,227 Years subsequent to 2021 8,878 $ 20,078 |
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. These indicators may include a significant decrease in the market price of a long-lived asset or asset group, a significant adverse change in the extent or manner in which a long-lived asset or asset group is being used or in its physical condition, or a current period operating or cash flow loss combined with a history of operating or cash flow losses or a forecast that demonstrates continuing losses associated with the use of a long-lived asset or asset group. If the carrying values of the assets are not recoverable, as determined by the estimated undiscounted cash flows, the estimated fair value of the assets or asset groups are compared to their current carrying values and impairment charges are recorded if the carrying value exceeds fair value. The Company performs its testing on an asset or asset group basis. Generally, fair value is determined using valuation techniques, such as expected discounted cash flows or appraisals, as appropriate. During the years ended December 31, 2016 , 2015 , and 2014 , the Company recognized impairment charges of $130.8 million , $7.1 million and $4.4 million , respectively, related to long-lived assets held for use, which is included in gains (losses) on asset dispositions and impairments, net in the accompanying consolidated statements of income (loss). As a result of continued weak conditions in the offshore oil and gas markets and the corresponding reductions in utilization and rates per day worked experienced by its fleet, the Company has identified indicators of impairment for certain of Offshore Marine Services owned vessel classes and individual offshore support vessels. When reviewing its fleet for impairment, the Company groups vessels with similar operating and marketing characteristics, including cold-stacked vessels expected to return to active service, into vessel classes. All other vessels, including vessels retired and removed from service, are evaluated for impairment on a vessel by vessel basis. During the year ended December 31, 2016 , the Company determined the carrying values of Offshore Marine Services anchor handling towing supply fleet, supply fleet, liftboat fleet, retired and removed from service vessels, and certain other individual vessels were not recoverable based on its estimate of their future undiscounted cash flows. As a result, and as described in more detail below, the Company recognized aggregate impairment charges of $119.7 million to reduce their carrying values to estimated fair value based on values established by independent appraisers and other market data such as recent sales of similar vessels. The valuation methodology applied by the appraisers was an estimated cost approach less (i) estimated economic depreciation for comparably aged and conditioned assets and (ii) estimated economic obsolescence based on market data or utilization trending of the vessels over the prior two years compared with 2014 (see Note 10 for fair value measurement determinations). If market conditions further decline from the depressed utilization and rates per day worked experienced over the last two years, fair values based on future appraisals could decline significantly. During the year ended December 31, 2016 , the Company retired and removed eight Offshore Marine Services vessels from service and recognized impairment charges of $20.7 million to reduce their carrying value to estimated fair value as described above. With respect to Offshore Marine Services vessels in active service and cold-stacked status, the Company recognized impairment charges of $62.8 million for its anchor handling towing supply fleet, $19.9 million for its liftboat fleet and $12.7 million for one specialty vessel to reduce their carrying value to estimated fair value as described above. The difference between the estimated fair values for these vessels compared with their carrying values was more pronounced given their age, short remaining useful lives and current low utilization levels. As of December 31, 2016 , Offshore Marine Services anchor handling towing supply fleet and liftboat fleet had average expected remaining lives of approximately four and six years, respectively, while the impaired specialty vessel had an expected remaining life of six years. In addition, the Company recognized other impairments of $3.6 million . Offshore Marine Services’ other vessel classes and other individual vessels in active service and cold-stacked status, for which no impairment was deemed necessary, have generally experienced a less severe decline in utilization and rates per day worked based on specific market factors. The market factors include vessels with more general utility to a broad range of customers (e.g., fast support vessels), vessels required for customers to meet regulatory mandates and operating under multiple year contracts (e.g., standby safety vessels) or vessels that service customers outside of the offshore oil and gas market (e.g., wind farm utility vessels). For these vessels, the Company determined that future undiscounted cash flows held constant at levels of utilization and rates per day worked experienced in 2016 would recover their current carrying values over their expected remaining useful lives. The Company assumed that future utilization and rates per day worked will, at a minimum, maintain levels experienced in 2016 based on the market factors discussed above. The Company’s estimates of undiscounted cash flows are highly subjective as future utilization and rates per day worked are uncertain, including the timing of an estimated market recovery in the offshore oil and gas markets and the timing and cost of reactivating cold-stacked vessels. If market conditions decline further, changes in the Company’s expectations on future cash flows may result in it recognizing additional impairment charges related to Offshore Marine Services’ long-lived assets in future periods. In October 2016, Witt O’Brien’s announced the launch of a strategic growth program to focus on core services by eliminating non-core and lower margin businesses. Witt O’Brien’s core services include providing resilience solutions for key areas of critical infrastructure, including, but not limited to, government, energy, transportation, healthcare and education, in the United States and abroad. Witt O’Brien’s protects and enhances its customers’ enterprise value by strengthening their ability to prepare for, respond to and recover from natural and man-made disasters, including hurricanes, infectious disease, terrorism, cyber breaches, oil spills, shipping incidents and other disruptions. The operations scheduled for elimination include a governmental relations unit, the Company’s European (primarily United Kingdom) operations, software products and an insurance unit. As a consequence of the restructuring, during the year ended December 31, 2016 , Witt O’Brien’s recorded impairment charges of $10.0 million to write off the carrying value of customer related intangible assets associated with the non-core service lines that were eliminated. Impairment of 50% or Less Owned Companies. Investments in 50% or less owned companies are reviewed periodically to assess whether there is an other-than-temporary decline in the carrying value of the investment. In its evaluation, the Company considers, among other items, recent and expected financial performance and returns, impairments recorded by the investee and the capital structure of the investee. When the Company determines the estimated fair value of an investment is below carrying value and the decline is other-than-temporary, the investment is written down to its estimated fair value. Actual results may vary from the Company’s estimates due to the uncertainty regarding projected financial performance, the severity and expected duration of declines in value, and the available liquidity in the capital markets to support the continuing operations of the investee, among other factors. Although the Company believes its assumptions and estimates are reasonable, the investee’s actual performance compared with the estimates could produce different results and lead to additional impairment charges in future periods. During the years ended December 31, 2016 , 2015 and 2014 , the Company recognized impairment charges of $14.7 million , $21.5 million and $3.3 million , respectively, related to its 50% or less owned companies, which are included in equity in earnings (losses) of 50% or less owned companies, net of tax in the accompanying consolidated statements of income (loss) (see Note 4). |
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. As of December 31, 2016, substantially all of the Company’s goodwill related to Witt O’Brien’s. The Company performs an annual impairment test of goodwill and further periodic tests to the extent indicators of impairment develop between annual impairment tests. During the year ended December 31, 2016, the Company revised its annual goodwill assessment date to October 1 to better align the assessment process with the business planning and forecasting process. 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 may use various approaches including an asset or cost approach, market approach or income approach or any combination thereof. These approaches may require the Company to make certain estimates and assumptions including projections of future cash flows, revenues and expenses. These estimates and assumptions 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. Although the Company believes its assumptions and estimates are reasonable, the Company’s actual performance against its estimates could produce different results and lead to additional impairment charges in future periods. On October 1, 2016, the Company performed its annual assessment of the carrying value of goodwill recorded in the Witt O’Brien’s reporting unit. As a result of weaker conditions for core services and the elimination of non-core service lines, the assessment concluded the carrying value of the reporting unit exceeded its fair value. Based on an evaluation of the implied fair value of goodwill compared to its carrying value, an impairment charge of $19.6 million was recorded to reduce the goodwill carrying value to fair value (see Note 10). The estimated fair value of the reporting unit was based on values established by independent valuation specialists. During the year ended December 31, 2015 , the Company recognized a $13.4 million impairment charge related to goodwill in the Company’s Offshore Marine Services’ business segment. During the year ended December 31, 2014 , the Company did not recognize any goodwill impairment charges. The Company’s goodwill impairment charges are included in gains (losses) on asset dispositions and impairments, net in the accompanying consolidated statements of income (loss). |
Business Combinations | Business Combinations. The Company recognizes 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 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 (loss) from the date of acquisition (see Note 2). |
Deferred Financing Costs | Debt Discount and Issuance Costs. Debt discounts and 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 and is included in interest expense in the accompanying consolidated statements of income (loss). |
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. Certain excess and property insurance policies are obtained through SEACOR sponsored programs, with premiums charged to participating businesses based on management’s risk assessment or insured asset values. The marine hull and liability policies have significant annual aggregate deductibles that are accrued based on actual claims incurred and historical loss experience, respectively. 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. The Company does not consider the results of its foreign operations permanently reinvested and, therefore, provides U.S. income taxes on the net earnings of its foreign subsidiaries. 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 (loss). 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 3), 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 3), 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): 2016 2015 2014 Balance at beginning of year $ 123,376 $ 146,534 $ 110,542 Deferred gains arising from equipment sales 9,003 5,984 71,367 Amortization of deferred gains included in operating expenses as reduction to rental expense (23,272 ) (22,521 ) (18,847 ) Amortization of deferred gains included in gains (losses) on asset dispositions and impairments, net (602 ) (4,954 ) (15,686 ) Other (1,697 ) (1,667 ) (842 ) Balance at end of year $ 106,808 $ 123,376 $ 146,534 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): 2016 2015 2014 Balance at beginning of year $ 12,533 $ 13,377 $ 14,221 Amortization of deferred gains included in gains (losses) on asset dispositions and impairments, net (1,855 ) (844 ) (844 ) Other (1,153 ) — — Balance at end of year $ 9,525 $ 12,533 $ 13,377 |
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 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 loss in the accompanying consolidated statements of comprehensive income (loss). Accumulated Other Comprehensive Loss. The components of accumulated other comprehensive loss were as follows (in thousands): SEACOR Holdings Inc. Stockholders’ Equity Noncontrolling Interests Foreign Currency Translation Adjustments Derivative Losses on Cash Flow Hedges, net Other Total Foreign Currency Translation Adjustments Derivative Losses on Cash Flow Hedges, net Other Other Comprehensive Loss Year ended December 31, 2013 $ (927 ) $ (257 ) $ (8 ) $ (1,192 ) $ 395 $ — $ (5 ) 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 ) Other comprehensive income (loss) (3,129 ) (154 ) 29 (3,254 ) (442 ) — 13 $ (3,683 ) Income tax (expense) benefit 1,095 54 (10 ) 1,139 — — — 1,139 Year ended December 31, 2015 (5,528 ) (116 ) 24 (5,620 ) (528 ) — 16 $ (2,544 ) Other comprehensive income (loss) (9,331 ) 294 (31 ) (9,068 ) (1,085 ) (17 ) (13 ) $ (10,183 ) Income tax (expense) benefit 3,266 (103 ) 11 3,174 — — — 3,174 Year ended December 31, 2016 $ (11,593 ) $ 75 $ 4 $ (11,514 ) $ (1,613 ) $ (17 ) $ 3 $ (7,009 ) 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 losses, net in the accompanying consolidated statements of income (loss) 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 (Loss) Average o/s Shares Per Share 2016 Basic Weighted Average Common Shares Outstanding $ (215,897 ) 16,914,928 $ (12.76 ) Effect of Dilutive Securities: Options and Restricted Stock (1) — — Convertible Securities (2)(3)(4) — — Diluted Weighted Average Common Shares Outstanding $ (215,897 ) 16,914,928 $ (12.76 ) 2015 Basic Weighted Average Common Shares Outstanding $ (68,782 ) 17,446,137 $ (3.94 ) Effect of Dilutive Securities: Options and Restricted Stock (1) — — Convertible Securities (2)(3)(4) — — Diluted Weighted Average Common Shares Outstanding $ (68,782 ) 17,446,137 $ (3.94 ) 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 ______________________ (1) For the years ended December 31, 2016 , 2015 , and 2014 , diluted earnings per common share of SEACOR excluded 2,020,677 , 2,078,777 and 407,698 , 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, 2016 and 2015 , diluted earnings per common share of SEACOR excluded 2,664,208 and 4,148,327 shares, respectively, issuable pursuant to the Company’s 2.5% Convertible Senior Notes (see Note 7) as the effect of their inclusion in the computation would be anti-dilutive. (3) For the years ended December 31, 2016 and 2015 diluted earnings per common share of SEACOR excluded 1,825,326 and 1,825,326 shares, respectively, issuable pursuant to the Company’s 3.0% Convertible Senior Notes (see Note 7) as the effect of their inclusion in the computation would be anti-dilutive. (4) For the years ended December 31, 2016 and 2015 , diluted earnings per common share of SEACOR excluded 2,243,500 and 190,544 shares, respectively, issuable pursuant to the Company’s 3.75% Subsidiary Convertible Senior Notes (see Note 7) as the effect of their inclusion in the computation would be anti-dilutive. |
New Accounting Pronouncements | New Accounting Pronouncements. On May 28, 2014, the Financial Accounting Standards Board (“FASB”) 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, 2017 and early adoption is permitted. The Company will adopt the new standard on January 1, 2018 and expects to use the modified retrospective approach upon adoption. The Company is in the preliminary stages of determining the impact, if any, the adoption of the new accounting standard will have on its consolidated financial position, results of operations or cash flows. Principal versus agent considerations of the new standard with respect to the Company’s vessel management services and pooling arrangements may result in a gross presentation of operating revenues and expenses compared with its current net presentation for results from managed and pooled third party equipment. On February 25, 2016, the FASB issued a comprehensive new leasing standard, which improves transparency and comparability among companies by requiring lessees to recognize a lease liability and a corresponding lease asset for virtually all lease contracts. It also requires additional disclosures about leasing arrangements. The new standard is effective for interim and annual periods beginning after December 15, 2018 and requires a modified retrospective approach to adoption. Early adoption is permitted. The Company has not yet determined what impact, if any, the adoption of the new standard will have on its consolidated financial position, results of operations or cash flows. On March 30, 2016, the FASB issued an amendment to the accounting standards, which simplifies several aspects of the accounting for share-based payment transactions, including income tax consequences, classification of awards as either equity or liabilities and classification on the statement of cash flows. The amendment is effective for fiscal years beginning after December 15, 2016 and interim periods within those fiscal years and early adoption is permitted. The Company does expect the impact of the adoption of the new standard will have a material impact on its consolidated financial position, results of operations or cash flows. On August 26, 2016, the FASB issued an amendment to the accounting standard which amends or clarifies guidance on classification of certain transactions in the statement of cash flows, including classification of proceeds from the settlement of insurance claims, debt prepayments, debt extinguishment costs and contingent consideration payments after a business combination. This new standard is effective for the Company as of January 1, 2018 and early adoption is permitted. The Company has not yet determined what impact, if any, the adoption of the new standard will have on its consolidated financial position, results of operations or cash flows. On October 24, 2016, the FASB issued a new accounting standard, which requires companies to account for the income tax effects of intercompany sales and transfers of assets other than inventory. The new standard is effective for interim and annual periods beginning after December 31, 2017 and requires a modified retrospective approach to adoption. The Company has not yet determined what impact, if any, the adoption of the new standard will have on its consolidated financial position, results of operations or cash flows. On November 17, 2016, the FASB issued an amendment to the accounting standard which requires that restricted cash and restricted cash equivalents be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total cash amounts shown on the statement of cash flows. The new standard is effective for fiscal years beginning after December 15, 2018, and interim periods within fiscal years beginning after December 15, 2019. Early adoption is permitted. The Company has not yet determined what impact, if any, the adoption of the new standard will have on its consolidated financial position, results of operations or cash flows. On January 26, 2017, the FASB issued an amendment to the accounting standard which simplified wording and removes step two of the goodwill impairment test. A goodwill impairment will now be the amount by which a reporting units carrying value exceeds its fair value, not to exceed the carrying amount of goodwill. The FASB also eliminated the requirements for any reporting unit with a zero or negative carrying amount to perform a qualitative assessment and, if it fails that qualitative test, to perform step two of the goodwill test. The new standard is effective for annual or interim goodwill impairment tests in fiscal years beginning after December 15, 2020, with early adoption permitted for interim or annual goodwill impairment tests on testing dates after January 1, 2017. The Company has not yet determined what impact, if any, the adoption of the new standard will have on its consolidated financial position, results of operations or cash flows. |
Nature Of Operations And Acco28
Nature Of Operations And Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Accounting Policies [Abstract] | |
Deferred Revenues Included In Other Current Liabilities | Deferred revenues for the years ended December 31 were as follows (in thousands): 2016 2015 2014 Balance at beginning of year $ 6,953 $ 6,794 $ 6,592 Revenues deferred during the year — 159 202 Balance at end of year $ 6,953 $ 6,953 $ 6,794 |
Schedule Of Estimated Useful Life Of Equipment | As of December 31, 2016 , 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 and harbor boats 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”). Equipment Additions. The Company’s capital expenditures and payments on fair value derivative hedges (see Note 9) were $358.8 million , $295.9 million and $360.6 million during the years ended December 31, 2016 , 2015 , and 2014 , respectively. Major owned equipment placed in service for the years ended December 31 were as follows: 2016 (1) 2015 2014 Offshore Support Vessels: Fast support 12 3 3 Supply 2 1 2 Specialty 1 — — Wind farm utility 2 2 2 17 6 7 Inland river dry-cargo barges 46 — 65 Inland river liquid tank barges - 10,000 barrel — 8 — Inland river specialty barges — 4 — Inland river towboats 2 9 1 Product tankers - U.S.-flag 3 — — Short-sea container\RORO - Foreign-flag — — 1 Harbor tugs - U.S.-flag 1 — — ______________________ (1) Excludes five inland river harbor boats acquired in the CCM acquisition, one offshore supply vessel acquired in the Cypress CKOR acquisition and one U.S.-flag offshore tug acquired in the SeaJon II acquisition (see Note 2). Major equipment dispositions for the years ended December 31 were as follows: 2016 2015 2014 Offshore Support Vessels: Anchor handling towing supply — — 1 Fast support — 1 7 Standby safety 4 — — Supply 5 1 4 Liftboats — — 1 Wind farm utility — — 1 9 2 14 Inland river dry-cargo barges — — 80 Inland river liquid tank barges - 10,000 barrel — 35 — Inland river liquid tank barges - 30,000 barrel 19 — — Inland river deck barges — 12 — Inland river towboats 14 4 5 Product tankers - U.S.-flag 1 — 1 Short-sea container\RORO - Foreign-flag — — 2 Harbor tugs - U.S.-flag 2 — — |
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, 2016 , 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 and harbor boats 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 Cost (1) Accumulated Depreciation Net Book Value 2016 Offshore Marine Services: Anchor handling towing supply $ 228,857 $ (183,757 ) $ 45,100 Fast support 251,415 (72,599 ) 178,816 Supply 96,774 (58,028 ) 38,746 Standby safety 109,436 (88,020 ) 21,416 Specialty 45,765 (24,063 ) 21,702 Liftboats 104,356 (45,447 ) 58,909 Wind farm utility 60,671 (29,019 ) 31,652 Machinery and spares 32,921 (20,008 ) 12,913 Other (2) 28,564 (19,678 ) 8,886 958,759 (540,619 ) 418,140 Inland River Services: Dry-cargo barges 246,237 (97,602 ) 148,635 Liquid tank barges 16,114 (1,982 ) 14,132 Towboats 14,675 (1,320 ) 13,355 Harbor boats 17,338 (5,715 ) 11,623 Specialty and deck barges 12,292 (4,869 ) 7,423 Terminal and fleeting facilities 94,913 (48,981 ) 45,932 Other (2) 18,145 (6,658 ) 11,487 419,714 (167,127 ) 252,587 Shipping Services: Product tankers - U.S.-flag 546,019 (189,536 ) 356,483 Harbor and offshore tugs - U.S.-flag 72,877 (34,606 ) 38,271 Harbor tugs - Foreign-flag 29,689 (9,480 ) 20,209 Ocean liquid tank barges - U.S.-flag 39,238 (11,604 ) 27,634 Short-sea container\RORO - Foreign-flag 20,954 (6,774 ) 14,180 Other (2) 18,825 (6,004 ) 12,821 727,602 (258,004 ) 469,598 Illinois Corn Processing: Manufacturing facilities 55,028 (23,689 ) 31,339 Land 1,680 — 1,680 56,708 (23,689 ) 33,019 Witt O’Brien’s: Other (2) 1,559 (1,244 ) 315 Corporate and Eliminations: Other (2) 29,681 (18,184 ) 11,497 $ 2,194,023 $ (1,008,867 ) $ 1,185,156 ______________________ (1) Includes property and equipment acquired in business acquisitions at acquisition date fair value, and net of the impact of recognized impairment charges. (2) Includes land and buildings, leasehold improvements, fixed-wing aircraft, vehicles and other property and equipment. Historical Cost (1) Accumulated Depreciation Net Book Value 2015 Offshore Marine Services: Anchor handling towing supply $ 301,707 $ (168,534 ) $ 133,173 Fast support 222,720 (61,515 ) 161,205 Supply 139,315 (80,862 ) 58,453 Standby Safety 141,864 (113,136 ) 28,728 Specialty 46,522 (21,224 ) 25,298 Liftboats 122,764 (36,154 ) 86,610 Wind farm utility 66,950 (26,773 ) 40,177 Machinery and spares 34,116 (19,480 ) 14,636 Other (2) 26,661 (19,284 ) 7,377 1,102,619 (546,962 ) 555,657 Inland River Services: Dry-cargo barges 226,916 (86,068 ) 140,848 Liquid tank barges 61,175 (14,638 ) 46,537 Towboats 67,265 (15,670 ) 51,595 Harbor boats 10,206 (5,136 ) 5,070 Specialty and deck barges 12,293 (3,992 ) 8,301 Terminal and fleeting facilities 90,379 (40,890 ) 49,489 Other (2) 16,910 (4,877 ) 12,033 485,144 (171,271 ) 313,873 Shipping Services: Product tankers - U.S.-flag 271,141 (168,838 ) 102,303 Harbor and offshore tugs - U.S.-flag 72,073 (37,418 ) 34,655 Harbor tugs - Foreign-flag 29,689 (8,291 ) 21,398 Ocean liquid tank barges - U.S.-flag 39,238 (10,175 ) 29,063 Short-sea container\RORO - Foreign-flag 20,954 (5,369 ) 15,585 Other (2) 21,049 (8,985 ) 12,064 454,144 (239,076 ) 215,068 Illinois Corn Processing: Manufacturing facilities 45,576 (19,390 ) 26,186 Land 1,680 — 1,680 47,256 (19,390 ) 27,866 Witt O’Brien’s: Other (2) 3,338 (2,834 ) 504 Corporate and Eliminations: Other (2) 30,700 (14,648 ) 16,052 $ 2,123,201 $ (994,181 ) $ 1,129,020 ______________________ (1) Includes property and equipment acquired in business acquisitions at acquisition date fair value, and net of the impact of recognized impairment charges. (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): Trademark/ Tradenames Customer Relationships Software/ Technology Acquired Contractual Rights Total Gross Carrying Value Year Ended December 31, 2014 $ 10,681 $ 48,570 $ 1,652 $ 2,985 $ 63,888 Purchase price adjustments to acquired intangible assets (1,024 ) (2,133 ) — — (3,157 ) Foreign currency translation — — — (78 ) (78 ) Fully amortized intangible assets (4,737 ) (22,700 ) — — (27,437 ) Year Ended December 31, 2015 4,920 23,737 1,652 2,907 33,216 Acquired intangible assets — 1,598 — 5,500 7,098 Foreign currency translation — — — 9 9 Impairment of intangible assets (1,596 ) (8,128 ) (1,220 ) — (10,944 ) Fully amortized intangible assets — — (432 ) — (432 ) Year Ended December 31, 2016 $ 3,324 $ 17,207 $ — $ 8,416 $ 28,947 Accumulated Amortization Year Ended December 31, 2014 $ (5,429 ) $ (24,179 ) $ (96 ) $ (1,457 ) $ (31,161 ) Amortization expense (624 ) (2,543 ) (192 ) 259 (3,100 ) Fully amortized intangible assets 4,737 22,700 — — 27,437 Year Ended December 31, 2015 (1,316 ) (4,022 ) (288 ) (1,198 ) (6,824 ) Amortization expense (332 ) (1,687 ) (144 ) (314 ) (2,477 ) Fully amortized intangible assets — — 432 — 432 Year Ended December 31, 2016 $ (1,648 ) $ (5,709 ) $ — $ (1,512 ) $ (8,869 ) Weighted average remaining contractual life, in years 5.0 9.2 0.0 8.4 8.6 |
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): 2017 $ 2,346 2018 2,173 2019 2,227 2020 2,227 2021 2,227 Years subsequent to 2021 8,878 $ 20,078 |
Schedule of Deferred Gains | Deferred gain activity related to these transactions for the years ended December 31 was as follows (in thousands): 2016 2015 2014 Balance at beginning of year $ 123,376 $ 146,534 $ 110,542 Deferred gains arising from equipment sales 9,003 5,984 71,367 Amortization of deferred gains included in operating expenses as reduction to rental expense (23,272 ) (22,521 ) (18,847 ) Amortization of deferred gains included in gains (losses) on asset dispositions and impairments, net (602 ) (4,954 ) (15,686 ) Other (1,697 ) (1,667 ) (842 ) Balance at end of year $ 106,808 $ 123,376 $ 146,534 Deferred gain activity related to these transactions for the years ended December 31 was as follows (in thousands): 2016 2015 2014 Balance at beginning of year $ 12,533 $ 13,377 $ 14,221 Amortization of deferred gains included in gains (losses) on asset dispositions and impairments, net (1,855 ) (844 ) (844 ) Other (1,153 ) — — Balance at end of year $ 9,525 $ 12,533 $ 13,377 |
Schedule of Accumulated Other Comprehensive Income (Loss) | Accumulated Other Comprehensive Loss. The components of accumulated other comprehensive loss were as follows (in thousands): SEACOR Holdings Inc. Stockholders’ Equity Noncontrolling Interests Foreign Currency Translation Adjustments Derivative Losses on Cash Flow Hedges, net Other Total Foreign Currency Translation Adjustments Derivative Losses on Cash Flow Hedges, net Other Other Comprehensive Loss Year ended December 31, 2013 $ (927 ) $ (257 ) $ (8 ) $ (1,192 ) $ 395 $ — $ (5 ) 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 ) Other comprehensive income (loss) (3,129 ) (154 ) 29 (3,254 ) (442 ) — 13 $ (3,683 ) Income tax (expense) benefit 1,095 54 (10 ) 1,139 — — — 1,139 Year ended December 31, 2015 (5,528 ) (116 ) 24 (5,620 ) (528 ) — 16 $ (2,544 ) Other comprehensive income (loss) (9,331 ) 294 (31 ) (9,068 ) (1,085 ) (17 ) (13 ) $ (10,183 ) Income tax (expense) benefit 3,266 (103 ) 11 3,174 — — — 3,174 Year ended December 31, 2016 $ (11,593 ) $ 75 $ 4 $ (11,514 ) $ (1,613 ) $ (17 ) $ 3 $ (7,009 ) |
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 (Loss) Average o/s Shares Per Share 2016 Basic Weighted Average Common Shares Outstanding $ (215,897 ) 16,914,928 $ (12.76 ) Effect of Dilutive Securities: Options and Restricted Stock (1) — — Convertible Securities (2)(3)(4) — — Diluted Weighted Average Common Shares Outstanding $ (215,897 ) 16,914,928 $ (12.76 ) 2015 Basic Weighted Average Common Shares Outstanding $ (68,782 ) 17,446,137 $ (3.94 ) Effect of Dilutive Securities: Options and Restricted Stock (1) — — Convertible Securities (2)(3)(4) — — Diluted Weighted Average Common Shares Outstanding $ (68,782 ) 17,446,137 $ (3.94 ) 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 ______________________ (1) For the years ended December 31, 2016 , 2015 , and 2014 , diluted earnings per common share of SEACOR excluded 2,020,677 , 2,078,777 and 407,698 , 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, 2016 and 2015 , diluted earnings per common share of SEACOR excluded 2,664,208 and 4,148,327 shares, respectively, issuable pursuant to the Company’s 2.5% Convertible Senior Notes (see Note 7) as the effect of their inclusion in the computation would be anti-dilutive. (3) For the years ended December 31, 2016 and 2015 diluted earnings per common share of SEACOR excluded 1,825,326 and 1,825,326 shares, respectively, issuable pursuant to the Company’s 3.0% Convertible Senior Notes (see Note 7) as the effect of their inclusion in the computation would be anti-dilutive. (4) For the years ended December 31, 2016 and 2015 , diluted earnings per common share of SEACOR excluded 2,243,500 and 190,544 shares, respectively, issuable pursuant to the Company’s 3.75% Subsidiary Convertible Senior Notes (see Note 7) as the effect of their inclusion in the computation would be anti-dilutive. |
Business Acquisitions (Tables)
Business Acquisitions (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Business Combinations [Abstract] | |
Schedule of Business Acquisitions, by Acquisition [Table Text Block] | 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): 2016 2015 2014 Restricted cash $ 275 $ — $ — Trade and other receivables 2,187 — 31,079 Other current assets 150 — 1,925 Investments, at Equity, and Advances to 50% or Less Owned Companies (3,437 ) — (49,968 ) Property and Equipment 17,132 — 519 Goodwill — 3,157 44,967 Intangible Assets 7,098 (3,157 ) 24,901 Other Assets — — 111 Accounts payable 238 — (1,709 ) Other current liabilities (13 ) — (12,274 ) Long-Term Debt (3,091 ) — (3,266 ) Deferred Income Taxes — — 91 Other Liabilities — — (1,376 ) Purchase price (1) $ 20,539 $ — $ 35,000 ______________________ (1) Purchase price is net of cash acquired totaling $0.9 million and $0.4 million in 2016 and 2014 , respectively. |
Equipment Acquisitions And Disp
Equipment Acquisitions And Dispositions (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Disclosure Text Block [Abstract] | |
Property, Plant and Equipment Disclosure [Text Block] | 3. EQUIPMENT ACQUISITIONS AND DISPOSITIONS Equipment Additions. The Company’s capital expenditures and payments on fair value derivative hedges (see Note 9) were $358.8 million , $295.9 million and $360.6 million during the years ended December 31, 2016 , 2015 , and 2014 , respectively. Major owned equipment placed in service for the years ended December 31 were as follows: 2016 (1) 2015 2014 Offshore Support Vessels: Fast support 12 3 3 Supply 2 1 2 Specialty 1 — — Wind farm utility 2 2 2 17 6 7 Inland river dry-cargo barges 46 — 65 Inland river liquid tank barges - 10,000 barrel — 8 — Inland river specialty barges — 4 — Inland river towboats 2 9 1 Product tankers - U.S.-flag 3 — — Short-sea container\RORO - Foreign-flag — — 1 Harbor tugs - U.S.-flag 1 — — ______________________ (1) Excludes five inland river harbor boats acquired in the CCM acquisition, one offshore supply vessel acquired in the Cypress CKOR acquisition and one U.S.-flag offshore tug acquired in the SeaJon II acquisition (see Note 2). Equipment Dispositions. During the year ended December 31, 2016 , the Company sold property and equipment for net proceeds of $194.4 million ( $184.4 million in cash, $8.0 million in seller financing and one U.S.-flag harbor tug valued at $2.0 million ) and gains of $14.7 million , of which $5.7 million were recognized currently and $9.0 million were deferred (see Note 1). Equipment dispositions included the sale-leaseback of one U.S.-flag product tanker for $61.0 million , with leaseback terms of 76 months. Gains of $8.2 million related to the sale-leaseback were deferred and are being amortized over their respective minimum lease periods. In addition, the Company received $0.5 million in deposits on future property and equipment sales and recognized previously deferred gains of $2.5 million . During the year ended December 31, 2015 , the Company sold property and equipment for net proceeds of $97.2 million ( $95.5 million in cash and $1.7 million in seller financing) and gains of $18.3 million , of which $12.3 million were recognized currently and $6.0 million were deferred (see Note 1). Equipment dispositions included the sale-leaseback of four inland river towboats for $35.3 million , with leaseback terms of 84 months. Gains of $4.2 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 $5.8 million . 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 4) 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 . Major equipment dispositions for the years ended December 31 were as follows: 2016 2015 2014 Offshore Support Vessels: Anchor handling towing supply — — 1 Fast support — 1 7 Standby safety 4 — — Supply 5 1 4 Liftboats — — 1 Wind farm utility — — 1 9 2 14 Inland river dry-cargo barges — — 80 Inland river liquid tank barges - 10,000 barrel — 35 — Inland river liquid tank barges - 30,000 barrel 19 — — Inland river deck barges — 12 — Inland river towboats 14 4 5 Product tankers - U.S.-flag 1 — 1 Short-sea container\RORO - Foreign-flag — — 2 Harbor tugs - U.S.-flag 2 — — |
Property, Plant and Equipment [Table Text Block] | As of December 31, 2016 , 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 and harbor boats 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”). Equipment Additions. The Company’s capital expenditures and payments on fair value derivative hedges (see Note 9) were $358.8 million , $295.9 million and $360.6 million during the years ended December 31, 2016 , 2015 , and 2014 , respectively. Major owned equipment placed in service for the years ended December 31 were as follows: 2016 (1) 2015 2014 Offshore Support Vessels: Fast support 12 3 3 Supply 2 1 2 Specialty 1 — — Wind farm utility 2 2 2 17 6 7 Inland river dry-cargo barges 46 — 65 Inland river liquid tank barges - 10,000 barrel — 8 — Inland river specialty barges — 4 — Inland river towboats 2 9 1 Product tankers - U.S.-flag 3 — — Short-sea container\RORO - Foreign-flag — — 1 Harbor tugs - U.S.-flag 1 — — ______________________ (1) Excludes five inland river harbor boats acquired in the CCM acquisition, one offshore supply vessel acquired in the Cypress CKOR acquisition and one U.S.-flag offshore tug acquired in the SeaJon II acquisition (see Note 2). Major equipment dispositions for the years ended December 31 were as follows: 2016 2015 2014 Offshore Support Vessels: Anchor handling towing supply — — 1 Fast support — 1 7 Standby safety 4 — — Supply 5 1 4 Liftboats — — 1 Wind farm utility — — 1 9 2 14 Inland river dry-cargo barges — — 80 Inland river liquid tank barges - 10,000 barrel — 35 — Inland river liquid tank barges - 30,000 barrel 19 — — Inland river deck barges — 12 — Inland river towboats 14 4 5 Product tankers - U.S.-flag 1 — 1 Short-sea container\RORO - Foreign-flag — — 2 Harbor tugs - U.S.-flag 2 — — |
Investments, At Equity, And A31
Investments, At Equity, And Advances To 50% Or Less Owned Companies (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Equity Method Investment, Summarized Financial Information [Abstract] | |
Summarized Financial Information For The Company's Investments, At Equity | Summarized financial information for Dorian as of and for the years ended December 31 was as follows (in thousands): 2015 (1) 2014 Current assets $ 98,254 $ 198,058 Noncurrent assets 1,724,758 812,164 Current liabilities 88,021 20,662 Noncurrent liabilities 759,636 125,716 2015 (1) 2014 Operating Revenues $ 239,206 $ 78,666 Operating Income 126,820 20,494 Net Income 118,356 15,122 ______________________ (1) Financial information provided is as of and for the year ended December 31, 2015 as it was not practical to obtain financial information through period ended December 21, 2015 without undue difficulty or cost. Investments, at equity, and advances to 50% or less owned companies as of December 31 were as follows (in thousands): Ownership 2016 2015 Offshore Marine Services: MexMar 49.0% $ 63,404 $ 50,163 Falcon Global 50.0% 18,539 17,951 Dynamic Offshore 19.0% 15,871 14,172 Sea-Cat Crewzer II 50.0% 11,246 11,339 OSV Partners 30.4% 9,245 11,374 Nautical Power 50.0% 6,413 6,412 Sea-Cat Crewzer 50.0% 4,088 2,701 Other 20.0% – 50.0% 9,505 15,898 138,311 130,010 Inland River Services: SCFCo 50.0% 46,028 57,437 Bunge-SCF Grain 50.0% 16,176 16,695 SCF Bunge Marine 50.0% 4,233 4,544 Other 50.0% 2,744 2,687 69,181 81,363 Shipping Services: Trailer Bridge (1) 55.3% 43,050 41,710 SEA-Access 50.0% — 8,414 SeaJon 50.0% 8,570 7,987 SeaJon II 50.0% — 6,388 51,620 64,499 Other: Hawker Pacific 34.2% 20,418 20,964 VA&E 41.3% 11,133 13,954 Avion 39.1% 14,783 11,994 Cleancor 50.0% 5,373 5,613 Other 34.0% – 50.0 % 2,953 2,706 54,660 55,231 $ 313,772 $ 331,103 ______________________ (1) The Company’s ownership percentage represents its economic interest in the joint venture. Combined Condensed Financial Information. Summarized financial information for the Company’s investments, at equity, excluding Dorian, as of and for the years ended December 31 was as follows (in thousands): 2016 2015 Current assets $ 745,872 $ 603,446 Noncurrent assets 1,009,317 1,066,610 Current liabilities 622,530 401,987 Noncurrent liabilities 458,922 674,896 2016 2015 2014 Operating Revenues $ 1,359,370 $ 1,281,708 $ 1,175,872 Costs and Expenses: Operating and administrative 1,204,496 1,085,518 1,021,730 Depreciation 80,784 94,105 61,233 1,285,280 1,179,623 1,082,963 Gains (Losses) on Asset Dispositions and Impairments, Net (27,900 ) (2,174 ) 368 Operating Income $ 46,190 $ 99,911 $ 93,277 Net Income (Loss) $ (34,569 ) $ 18,835 $ 29,296 |
Long-Term Debt (Tables)
Long-Term Debt (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Long-term Debt, Unclassified [Abstract] | |
Schedule Of Company's Borrowings | The Company’s borrowings as of December 31 were as follows (in thousands): 2016 2015 3.0% Convertible Senior Notes (1) $ 230,000 $ 230,000 2.5% Convertible Senior Notes (2) 157,128 284,500 7.375% Senior Notes (3) 160,699 195,941 3.75% Subsidiary Convertible Senior Notes (4) 175,000 175,000 SEA-Vista Credit Facility (5) 279,245 210,025 Other (6) 82,742 54,287 1,084,814 1,149,753 Portion due within one year, net of related debt discount and issuance costs (183,602 ) (35,531 ) Debt discount included in long-term debt (39,537 ) (62,914 ) Debt issuance costs included in long-term debt (12,904 ) (16,449 ) $ 848,771 $ 1,034,859 ______________________ (1) Excludes unamortized discount and unamortized issue costs of $29.8 million and $3.0 million , respectively, as of December 31, 2016 and $36.2 million and $3.7 million , respectively, as of December 31, 2015 . (2) Excludes unamortized discount and unamortized issue costs of $4.8 million and $0.8 million , respectively, as of December 31, 2016 and $17.3 million and $2.8 million , respectively, as of December 31, 2015 . (3) Excludes unamortized discount and unamortized issue costs of $0.4 million and $0.5 million , respectively, as of December 31, 2016 and $0.6 million and $0.9 million , respectively, as of December 31, 2015 . (4) Excludes unamortized discount and unamortized issue costs of $4.1 million and $3.1 million , respectively, as of December 31, 2016 and $8.2 million and $6.2 million , respectively, as of December 31, 2015 . (5) Excludes unamortized issue costs of $2.0 million and $2.7 million as of December 31, 2016 and December 31, 2015 , respectively. (6) Excludes unamortized discount and unamortized issue costs of $0.5 million and $3.5 million , respectively, as of December 31, 2016 and unamortized discount and unamortized issue costs of $0.6 million and $0.2 million , respectively, as of December 31, 2015 . |
Schedule Of Long-Term Debt Maturities | The Company’s contractual long-term debt maturities for the years ended December 31 are as follows (in thousands): 2017 (1) $ 189,164 2018 21,766 2019 183,212 2020 238,846 2021 25,800 Years subsequent to 2021 426,026 $ 1,084,814 ______________________ (1) Includes the aggregate principal amount outstanding of the Company’s 2.5% Convertible Senior Notes with a contractual maturity date of December 15, 2027 as the holders may require the Company to repurchase the notes on December 19, 2017. |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Income Tax Disclosure [Abstract] | |
Schedule Of Income Before Income Tax, Domestic and Foreign | Income (loss) 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): 2016 2015 2014 United States $ (242,375 ) $ (25,441 ) $ 160,782 Foreign (29,200 ) (2,896 ) (5,409 ) Eliminations and other 9,327 (2,461 ) 7,862 $ (262,248 ) $ (30,798 ) $ 163,235 |
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): 2016 2015 2014 Current: State $ 5,339 $ 3,155 $ 5,526 Federal (9,260 ) 17,442 56,675 Foreign 5,815 5,971 10,060 1,894 26,568 72,261 Deferred: State (2,568 ) (1,875 ) 196 Federal (93,246 ) (35,539 ) (17,222 ) Foreign 90 (516 ) (38 ) (95,724 ) (37,930 ) (17,064 ) $ (93,830 ) $ (11,362 ) $ 55,197 |
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 for the years ended December 31 : 2016 2015 2014 Statutory rate (35.0 )% (35.0 )% 35.0 % Non-deductible expenses 0.1 % 1.7 % 0.5 % Noncontrolling interests (2.6 )% (8.1 )% (5.3 )% Losses of foreign subsidiaries not benefited 1.3 % 6.2 % 1.2 % State taxes 0.3 % 0.6 % 2.3 % Other 0.1 % (2.3 )% 0.1 % (35.8 )% (36.9 )% 33.8 % |
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): 2016 2015 Deferred tax liabilities: Property and equipment $ 257,337 $ 302,529 Long-term debt 46,380 56,110 Unremitted earnings of foreign subsidiaries 24,263 34,977 Investments in 50% or less owned companies 16,549 14,461 Intangible assets 1,908 6,150 Deductible goodwill — 4,124 Other 194 990 Total deferred tax liabilities 346,631 419,341 Deferred tax assets: Share award plans 11,078 11,827 Losses on marketable securities 20,746 8,863 Deductible goodwill 1,611 — Debt and equity issuance costs 7,638 3,029 Other 20,557 8,991 Total deferred tax assets 61,630 32,710 Valuation allowance (3,600 ) (3,357 ) Net deferred tax assets 58,030 29,353 Net deferred tax liabilities $ 288,601 $ 389,988 |
Derivative Instruments And He34
Derivative Instruments And Hedging Strategies (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Fair Values Of Derivative Instruments | Derivative instruments are classified as either assets or liabilities based on their individual fair values. The fair values of the Company’s derivative instruments as of December 31 were as follows (in thousands): 2016 2015 Derivative Asset (1) Derivative Liability (2) Derivative Asset (1) Derivative Liability (2) Derivatives designated as hedging instruments: Forward currency exchange contracts (fair value hedges) $ — $ 316 $ — $ — Interest rate swap agreements (cash flow hedges) — 73 — — — 389 — — Derivatives not designated as hedging instruments: Exchange option liability on subsidiary convertible senior notes — 19,436 — 5,611 Options on equities and equity indices — — — 4,005 Forward currency exchange, option and future contracts 195 194 — 57 Interest rate swap agreements — — — 242 Exchange traded commodity swap, option and future contracts: 1,042 598 469 981 1,237 20,228 469 10,896 $ 1,237 $ 20,617 $ 469 $ 10,896 ______________________ (1) Included in other receivables in the accompanying consolidated balance sheets. (2) Included in other current liabilities in the accompanying consolidated balance sheets, except for the exchange option liability on subsidiary convertible senior notes. |
Recognized Gains (Losses) On Derivative Instruments Not Designated As Hedging 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 2016 2015 2014 Exchange option liability on subsidiary convertible senior notes $ (13,826 ) $ 2,900 $ — Options on equities and equity indices 3,095 (3,200 ) 38 Forward currency exchange, option and future contracts (378 ) (519 ) (183 ) Interest rate swap agreements (18 ) (18 ) (176 ) Commodity swap, option and future contracts: Exchange traded 902 (2,744 ) (4,250 ) Non-exchange traded — 1,485 669 $ (10,225 ) $ (2,096 ) $ (3,902 ) |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
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 2016 ASSETS Marketable securities (1) $ 116,276 $ — $ — Derivative instruments (included in other receivables) 1,042 195 — Construction reserve funds 153,962 — — LIABILITIES Short sales of marketable securities 1,274 — — Derivative instruments (included in other current liabilities) 598 583 — Exchange option liability on subsidiary convertible senior notes — — 19,436 2015 ASSETS Marketable securities (1) $ 138,200 $ — $ — Derivative instruments (included in other receivables) 469 — — Construction reserve funds 255,408 — — LIABILITIES Short sales of marketable securities 4,827 — — Derivative instruments (included in other current liabilities) 4,986 299 — Exchange option liability on subsidiary convertible senior notes — — 5,611 ______________________ (1) Marketable security gains (losses), net include losses of $34.0 million , losses of $1.4 million and gains of $0.3 million for the years ended December 31, 2016 , 2015 and 2014 , respectively, related to marketable security positions held by the Company as of December 31, 2016 . Marketable security gains (losses), net include gains of $1.5 million and $0.3 million for the years ended December 31, 2015 and 2014 , respectively, related to marketable security positions held by the Company as of December 31, 2015 . |
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): Carrying Amount Level 1 Level 2 Level 3 2016 ASSETS Cash, cash equivalents and restricted cash $ 403,355 $ 403,355 $ — $ — Investments, at cost, in 50% or less owned companies (included in other assets) 4,432 see below Notes receivable from third parties (included in other receivables and other assets) 12,342 see below LIABILITIES Long-term debt, including current portion (1) 1,032,373 — 1,062,160 — 2015 ASSETS Cash and cash equivalents $ 530,009 $ 530,009 $ — $ — Investments, at cost, in 50% or less owned companies (included in other assets) 16,045 see below Notes receivable from third parties (included in other receivables and other assets) 24,587 see below LIABILITIES Long-term debt, including current portion (1) 1,070,390 — 1,043,576 — ______________________ (1) The estimated fair value includes the embedded conversion options on the Company’s 2.5% and 3.0% Convertible Senior Notes. |
Non-Financial Assets And Liabilities Measured At Fair Value | The Company’s non-financial assets that were measured at fair value during the years ended December 31 were as follows (in thousands): Level 1 Level 2 Level 3 2016 ASSETS Property and equipment: Anchor handling towing supply $ — $ 2,600 $ 42,500 Liftboats — — 62,830 Specialty — 4,000 — Other — 3,003 1,800 Goodwill — — 28,506 Investments, at cost, in 50% or less owned companies (included in other assets) — 3,600 — Investment, at equity, and advances in 50% or less owned companies — 3,438 48,150 Notes receivable from third parties (included in other assets) — — 11,900 2015 ASSETS Property and equipment $ — $ 200 $ — Investment, at equity, and advances in 50% or less owned companies 102,509 6,802 39,201 Property and equipment. During the year ended December 31, 2016 , the Company recognized impairment charges of $120.8 million associated with certain Offshore Marine Services’ offshore support vessels and certain Inland River Services’ equipment currently under construction (see Note 1). The Level 2 fair values were determined based on the contracted sales prices of the property and equipment, sales prices of similar property and equipment or scrap value, as applicable. The Level 3 fair values were determined based on third-party valuations using significant inputs that are unobservable in the market. Due to limited market transactions, the primary valuation methodology applied by the appraisers was an estimated cost approach less estimated economic depreciation for comparably aged and conditioned assets less estimated economic obsolescence based on market data or utilization and rates per day worked trending of the vessel class over the prior two years compared with 2014. The significant unobservable inputs used in the fair value measurement for the anchor handling towing supply fleet were the estimated construction costs for similar new equipment of $364.0 million , estimated economic fleet depreciation of 55% based on average expected remaining useful life and estimated economic obsolescence of 74% . The significant unobservable inputs used in the fair value measurement for the liftboat fleet were the estimated construction costs for similar new equipment of $279.0 million , estimated economic fleet depreciation of 42% based on average expected remaining useful life and estimated average economic obsolescence of 61% . During the year ended December 31, 2015 , the Company recognized impairment charges of $6.6 million related to the suspended construction of two offshore support vessels. The fair value of the construction in progress was determined based on the scrap value of the hulls. Goodwill. During the year ended December 31, 2016 , the Company recognized goodwill impairment charges of $19.6 million following a restructuring of Witt O’Brien’s (see Note 1). The fair value of Witt O’Brien’s was based on an appraisal performed in conjunction with the Company’s annual impairment test of goodwill on October 1, 2016 using significant inputs that are unobservable in the market and therefore are considered a Level 3 fair value measurement. The significant unobservable inputs used in the fair value measurement were industry transactions, cash flow projections and discount rates. The appraisal utilized both a market approach based on implied revenues and earnings multiples from industry transactions occurring in the prior five years and an income approach based on a discounted cash flow analysis of projected operating results, investment needs and capital expenditures, to establish value. The income approach was weighted more heavily based on the recent strategic growth program and management’s projected financial data. Under the income approach, fair value was determined by discounting the estimated future cash flows over a discrete period using an estimated weighted average cost of capital. The assumptions and estimates underlying the annual impairment assessment, such as the timing and extent of natural and man-made disasters, associated revenue and operating expenses are highly judgmental. Investments, at cost, in 50% or less owned companies. During the year ended December 31, 2016 , the Company identified indicators of impairment in a Shipping Services cost investment in a foreign container shipping company and an Other cost investment in a foreign industrial aircraft company and, as a consequence, recognized impairment charges of $11.6 million for an other-than-temporary decline in fair value. The Level 2 fair value of the Shipping Services cost investment was based on the value of the common stock issued in a recent offering. The Other cost investment was determined to have an immaterial value. Investments, at equity, and advances in 50% or less owned companies. During the year ended December 31, 2016 , the Company marked its investments to fair value in certain of its 50% or less owned companies as follows: • the Company identified indicators of impairment in one of Offshore Marine Services’ other equity method investments as a result of continuing weak market conditions and, as a consequence, recognized a $0.5 million impairment charge, net of tax, for an other-than-temporary decline in fair value. The investment was determined to have no value and the Company has suspended equity method accounting (see Note 4); • the Company identified indicators of impairment in its investment in Falcon Global as a result of continuing weak market conditions and, as a consequence, recognized a $6.4 million impairment charge, net of tax, for an other-than-temporary decline in fair value. Falcon Global’s primary assets consist of two liftboats in the final stages of construction and the estimated fair value of the liftboats was the primary input used by the Company in determining the fair value of its investment (see Note 4) and resulting impairment charge. The fair value of the liftboats was determined based on a third-party valuation using significant inputs that are unobservable in the market and therefore are considered a Level 3 fair value measurement. Due to limited market transactions, the primary valuation methodology applied by the appraisers was an estimated cost approach less economic obsolescence based on utilization and rates per day worked trending over the prior year in the Middle East region where the vessels are intended to operate. The significant unobservable inputs used in the fair value measurement were the estimated construction costs of similar new equipment and economic obsolescence of 25% ; • the Company identified indicators of impairment in its investment in SCFCo as a result of continuing losses and the expectation of continuing weak market conditions and, as a consequence, recognized a $7.7 million impairment charge for an other-than-temporary decline in the fair value of its investment. The fair value of the Company’s investment in SCFCo is estimated with significant inputs that are both observable and unobservable in the market and therefore is considered a Level 3 fair value measurement. The significant unobservable inputs used in the fair value measurement were an estimated earnings multiple of 7 x applied to 2017 forecasted cash flows before interest, taxes, depreciation and amortization (see Note 4); and • the Company marked its investment in SeaJon II to fair value as a consequence of acquiring its partner’s interest resulting in a $1.9 million impairment charge, net of tax, based on the fair value of the acquired interest (see Notes 2 and 4). During the year ended December 31, 2015 , the Company marked its investments to fair value in certain of its 50% or less owned companies as follows: • on December 21, 2015, the Company determined it no longer exercised significant influence over Dorian (see Note 4) and marked its investment, at equity, to fair value. The Level 1 fair value was determined based on the closing quoted market price for Dorian on that date; • the Company marked its equity investment in VA&E to fair value upon the deconsolidation of a previously controlled subsidiary following its contribution to VA&E. The Level 2 fair value was determined based on the value of the equity investment the Company received; and • the Company identified indicators of impairment in its investment in SCFCo as a result of continuing losses and the expectation of continuing weak market conditions and, as a consequence, recognized a $21.5 million impairment charge for an other-than-temporary decline in the fair value of its investment. The fair value of the Company’s investment in SCFCo is estimated with significant inputs that are both observable and unobservable in the market and therefore is considered a Level 3 fair value measurement. The significant unobservable inputs used in the fair value measurement were the construction and mobilization costs of similar new equipment, estimated economic depreciation for comparably aged assets and earnings multiples applied to historical and forecasted cash flows (see Note 4). Notes receivable from third parties. During the year ended December 31, 2016 , the Company recorded $8.5 million in reserves for two of its notes receivables from third parties following non-performance and a decline in the underlying collateral values. The collateral for a note receivable of $6.7 million was determined to have no value. The Company recorded a reserve of $1.8 million for the other note receivable based on a third-party valuation of the underlying collateral using significant inputs that are unobservable in the market and therefore are considered a Level 3 fair value measurement. Due to limited market transactions, the primary valuation methodology applied by the appraiser was an estimated cost approach less estimated economic depreciation for comparably aged assets and less estimated economic obsolescence. The significant unobservable inputs used in the fair value measurement were the estimated construction costs for similar new equipment, estimated economic depreciation of 33% and estimated economic obsolescence of 56% (see Note 6). |
Noncontrolling Interests in S36
Noncontrolling Interests in Subsidiaries Noncontrolling Interests (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Noncontrolling Interest [Abstract] | |
Redeemable Noncontrolling Interest [Table Text Block] | Noncontrolling interests in the Company’s consolidated subsidiaries as of December 31 were as follows (in thousands): Noncontrolling Interests 2016 2015 Offshore Marine Services: Windcat Workboats 25% $ 5,266 $ 7,484 Other 1.8 % – 30.0% 277 470 Inland River Services: Other 3.0 % – 51.8% 980 1,146 Shipping Services: SEA-Vista 49% 106,054 88,290 Illinois Corn Processing 30% 22,647 22,272 Other 5.0 % – 14.6% 152 457 $ 135,376 $ 120,119 |
Share Based Compensation (Table
Share Based Compensation (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
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: 2016 2015 2014 Restricted stock awards granted 137,258 135,150 150,145 Restricted stock awards forfeited (2,867 ) — (1,325 ) Director stock awards granted 3,125 3,375 2,625 Restricted Stock Unit Activities: Shares released from Deferred Compensation Plan — (217 ) (216 ) Stock Option Activities: Outstanding as of the beginning of year 1,690,899 1,546,508 1,481,280 Granted 197,550 192,350 199,100 Exercised (113,820 ) (40,461 ) (133,872 ) Forfeited (18,760 ) — — Expired (116,004 ) (7,498 ) — Outstanding as of the end of year 1,639,865 1,690,899 1,546,508 Employee Stock Purchase Plans shares issued 41,924 39,384 30,622 Shares available for issuance under Share Incentive and Employee Stock Purchase Plans as of the end of year 522,341 764,567 1,127,328 |
Schedule Of Share-based Compensation, Restricted Stock And Restricted Stock Units Activity | During the year ended December 31, 2016 , the number of shares and the weighted average grant price of restricted stock transactions were as follows: Restricted Stock Number of Shares Weighted Average Grant Price Nonvested as of December 31, 2015 387,878 $ 76.93 Granted 137,258 $ 51.10 Vested (141,457 ) $ 76.37 Forfeited (2,867 ) $ 64.49 Nonvested as of December 31, 2016 380,812 $ 67.92 |
Schedule Of Share-based Compensation, Stock Options, Activity | During the year ended December 31, 2016 , 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 Shares Weighted Average Grant Date Fair Value Number of Shares Weighted Average Exercise Price Number of Shares Weighted Average Exercise Price Outstanding, as of December 31, 2015 571,224 $ 22.83 1,119,675 $ 57.64 1,690,899 $ 62.70 Granted 197,550 $ 17.09 — $ — 197,550 $ 57.52 Vested (219,542 ) $ 22.98 219,542 $ 71.76 — $ — Exercised — $ — (113,820 ) $ 48.58 (113,820 ) $ 48.58 Forfeited (18,760 ) $ 22.72 — $ — (18,760 ) $ 71.90 Expired — $ — (116,004 ) $ 60.85 (116,004 ) $ 60.85 Outstanding, as of December 31, 2016 530,472 $ 20.63 1,109,393 $ 61.03 1,639,865 $ 63.09 |
Commitments And Contingencies S
Commitments And Contingencies Schedule of Operating Lease Payments (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Commitments and Contingencies Disclosure [Abstract] | |
Other Commitments [Table Text Block] | The Company's capital commitments as of December 31, 2016 by year of expected payment were as follows (in thousands): 2017 2018 2019 2020 Total Offshore Marine Services $ 29,272 $ 50,555 $ 13,223 $ 1,800 $ 94,850 Shipping Services 55,430 — — — 55,430 Inland River Services 30,102 — — — 30,102 Illinois Corn Processing 1,678 375 — — 2,053 $ 116,482 $ 50,930 $ 13,223 $ 1,800 $ 182,435 |
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, 2016 were as follows (in thousands): Total Minimum Payments Non-cancelable Subleases (1) Net Minimum Payments 2017 $ 59,014 $ (17,345 ) $ 41,669 2018 58,772 (17,345 ) 41,427 2019 43,836 (17,345 ) 26,491 2020 38,570 (17,392 ) 21,178 2021 28,386 (17,345 ) 11,041 Years subsequent to 2021 31,267 (24,045 ) 7,222 ____________________ (1) The total minimum offsetting payments to be received under existing long-term bareboat charter-out arrangements. |
Major Customers And Segment I39
Major Customers And Segment Information (Tables) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Segment Reporting [Abstract] | |||
Operating Results, Capital Expenditures And Assets By Reporting Segment | The following tables summarize the operating results, capital expenditures and assets of the Company’s reportable segments. Offshore Marine Services $’000 Inland River Services $’000 Shipping Services $’000 ICP (1)(2) $’000 Witt O’Brien’s $’000 Other $’000 Corporate and Eliminations $’000 Total $’000 For the year ended December 31, 2016 Operating Revenues: External customers 215,536 165,140 229,643 177,401 42,783 482 — 830,985 Intersegment 100 2,403 — — 133 — (2,636 ) — 215,636 167,543 229,643 177,401 42,916 482 (2,636 ) 830,985 Costs and Expenses: Operating 166,925 124,460 122,631 158,495 28,561 — (3,259 ) 597,813 Administrative and general 49,308 14,616 27,825 3,011 16,214 1,001 26,606 138,581 Depreciation and amortization 58,069 26,327 31,162 4,299 1,539 — 3,537 124,933 274,302 165,403 181,618 165,805 46,314 1,001 26,884 861,327 Gains (Losses) on Asset Dispositions and Impairments, Net (116,222 ) 3,193 411 — (29,587 ) — — (142,205 ) Operating Income (Loss) (174,888 ) 5,333 48,436 11,596 (32,985 ) (519 ) (29,520 ) (172,547 ) Other Income (Expense): Derivative gains (losses), net 2,995 — — 911 — — (14,131 ) (10,225 ) Foreign currency gains (losses), net (3,312 ) 1,722 (18 ) — (181 ) (1 ) (78 ) (1,868 ) Other, net (1,490 ) (4 ) (6,224 ) — — (12,608 ) 120 (20,206 ) Equity in Earnings (Losses) of 50% or Less Owned Companies, Net of Tax (6,314 ) (15,944 ) (4,697 ) — 305 (704 ) — (27,354 ) Segment Profit (Loss) (183,009 ) (8,893 ) 37,497 12,507 (32,861 ) (13,832 ) Other Income (Expense) not included in Segment Profit (57,402 ) Less Equity in Losses included in Segment Profit 27,354 Loss Before Taxes and Equity Earnings (262,248 ) Capital Expenditures 100,884 36,803 215,837 4,723 2 — 164 358,413 As of December 31, 2016 Property and Equipment: Historical cost 958,759 419,714 727,602 56,708 1,559 — 29,681 2,194,023 Accumulated depreciation (540,619 ) (167,127 ) (258,004 ) (23,689 ) (1,244 ) — (18,184 ) (1,008,867 ) 418,140 252,587 469,598 33,019 315 — 11,497 1,185,156 Construction in progress 123,801 13,003 233,214 701 — — (207 ) 370,512 541,941 265,590 702,812 33,720 315 — 11,290 1,555,668 Investments, at Equity, and Advances to 50% or Less Owned Companies 138,311 69,181 51,620 — 566 54,094 — 313,772 Inventories 3,058 1,602 843 11,133 137 — — 16,773 Goodwill — 2,400 1,852 — 28,506 — — 32,758 Intangible Assets — 12,018 — — 8,060 — — 20,078 Other current and long-term assets, excluding cash and near cash assets (3) 72,810 88,165 29,801 11,850 14,284 11,193 21,576 249,679 Segment Assets 756,120 438,956 786,928 56,703 51,868 65,287 Cash and near cash assets (3) 673,593 Total Assets 2,862,321 ______________________ (1) Operating revenues includes $167.0 million of tangible product sales and operating expenses includes $148.2 million of costs of goods sold. (2) Inventories include raw materials of $1.8 million and work in process of $1.5 million . (3) Cash and near cash assets includes cash, cash equivalents, restricted cash, marketable securities and construction reserve funds | Offshore Marine Services $’000 Inland River Services $’000 Shipping Services $’000 ICP (1)(2) $’000 Witt O’Brien’s $’000 Other $’000 Corporate and Eliminations $’000 Total $’000 For the year ended December 31, 2015 Operating Revenues: External customers 368,744 227,601 227,142 166,905 49,838 14,506 — 1,054,736 Intersegment 124 2,881 — — 146 — (3,151 ) — 368,868 230,482 227,142 166,905 49,984 14,506 (3,151 ) 1,054,736 Costs and Expenses: Operating 275,972 168,015 129,039 143,967 21,899 13,054 (3,341 ) 748,605 Administrative and general 53,085 15,567 26,215 2,307 24,096 2,546 32,795 156,611 Depreciation and amortization 61,729 28,632 26,296 3,902 1,711 5 3,712 125,987 390,786 212,214 181,550 150,176 47,706 15,605 33,166 1,031,203 Gains (Losses) on Asset Dispositions and Impairments, Net (17,017 ) 14,868 — — (27 ) (232 ) — (2,408 ) Operating Income (Loss) (38,935 ) 33,136 45,592 16,729 2,251 (1,331 ) (36,317 ) 21,125 Other Income (Expense): Derivative gains (losses), net (2,766 ) 294 — (1,251 ) — (472 ) 2,099 (2,096 ) Foreign currency losses, net (27 ) (3,726 ) (30 ) — (36 ) (11 ) (922 ) (4,752 ) Other, net 261 — 2,053 4,112 19 33 295 6,773 Equity in Earnings (Losses) of 50% or Less Owned Companies, Net of Tax 8,757 (31,200 ) (18,782 ) — 135 676 — (40,414 ) Segment Profit (Loss) (32,710 ) (1,496 ) 28,833 19,590 2,369 (1,105 ) Other Income (Expense) not included in Segment Profit (51,848 ) Less Equity Losses included in Segment Profit 40,414 Loss Before Taxes and Equity Earnings (30,798 ) Capital Expenditures 87,765 69,736 134,581 4,712 409 — (1,273 ) 295,930 As of December 31, 2015 Property and Equipment: Historical cost 1,102,619 485,144 454,144 47,256 3,338 — 30,700 2,123,201 Accumulated depreciation (546,962 ) (171,271 ) (239,076 ) (19,390 ) (2,834 ) — (14,648 ) (994,181 ) 555,657 313,873 215,068 27,866 504 — 16,052 1,129,020 Construction in progress 97,900 17,807 335,113 5,430 — — (1,645 ) 454,605 653,557 331,680 550,181 33,296 504 — 14,407 1,583,625 Investments, at Equity, and Advances to 50% or Less Owned Companies 130,010 81,363 64,499 — 344 54,887 — 331,103 Inventories 4,000 1,493 701 18,574 — — — 24,768 Goodwill — 2,364 1,852 — 48,124 — — 52,340 Intangible Assets 1,049 5,961 — — 19,382 — — 26,392 Other current and long-term assets, excluding cash and near cash assets (3) 97,488 72,180 28,359 7,739 14,780 16,014 7,014 243,574 Segment Assets 886,104 495,041 645,592 59,609 83,134 70,901 Cash and near cash assets (3) 923,617 Total Assets 3,185,419 ______________________ (1) Operating revenues includes $154.8 million of tangible product sales and operating expenses includes $131.9 million of costs of goods sold. (2) Inventories include raw materials of $2.1 million and work in process of $1.5 million . (3) Cash and near cash assets includes cash, cash equivalents, marketable securities and construction reserve funds | Offshore Marine Services $’000 Inland River Services $’000 Shipping Services $’000 ICP (1)(2) $’000 Witt O’Brien’s $’000 Other $’000 Corporate and Eliminations $’000 Total $’000 For the year ended December 31, 2014 Operating Revenues: External customers 529,761 249,288 214,316 236,293 27,691 62,045 — 1,319,394 Intersegment 183 3,862 — — — — (4,045 ) — 529,944 253,150 214,316 236,293 27,691 62,045 (4,045 ) 1,319,394 Costs and Expenses: Operating 365,092 174,918 112,771 187,849 12,978 59,666 (3,902 ) 909,372 Administrative and general 58,353 15,937 24,518 2,177 19,180 5,957 38,816 164,938 Depreciation and amortization 64,615 29,435 28,420 4,119 1,045 284 3,901 131,819 488,060 220,290 165,709 194,145 33,203 65,907 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 (5,512 ) (4,939 ) (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 ) — (53 ) (102 ) (1,430 ) (6,335 ) Other, net 14,671 (38 ) (3,630 ) 660 (5,056 ) (3,097 ) (71 ) 3,439 Equity in Earnings (Losses) of 50% or Less Owned Companies, Net of Tax 10,468 6,673 (661 ) — (465 ) 294 — 16,309 Segment Profit (Loss) 92,022 65,817 44,435 39,031 (11,086 ) (7,574 ) Other Income (Expense) not included in Segment Profit 4,790 Less Equity Earnings included in Segment Profit (16,309 ) Income Before Taxes and Equity Earnings 163,235 Capital Expenditures 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 3,342 271 30,161 2,086,957 Accumulated depreciation (500,007 ) (159,532 ) (213,072 ) (15,488 ) (3,002 ) (247 ) (10,936 ) (902,284 ) 560,979 331,547 240,790 31,768 340 24 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 32,486 340 258 19,369 1,502,673 Investments, at Equity, and Advances to 50% or Less Owned Companies 115,436 103,688 222,420 — 524 42,089 — 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 26,131 45,547 7,670 342,630 Segment Assets 913,703 573,577 691,848 55,194 95,997 90,371 Cash and near cash assets (3) 786,644 Total Assets 3,234,373 ______________________ (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. |
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): 2016 2015 2014 Operating Revenues: United States $ 590,310 $ 751,548 $ 925,750 Africa, primarily West Africa 37,764 57,268 70,743 Europe, primarily North Sea 82,730 104,042 112,644 Middle East and Asia 54,950 65,045 69,598 Brazil, Mexico, Central and South America 64,837 76,404 140,460 Other 394 429 199 $ 830,985 $ 1,054,736 $ 1,319,394 | ||
Property And Equipment Based Upon The Assets' Physical Location | The following represents the Company’s property and equipment based upon the assets’ physical location as of December 31 (in thousands): 2016 2015 2014 Property and Equipment: United States $ 1,185,917 $ 1,181,586 $ 1,120,765 Africa, primarily West Africa 75,772 73,406 82,495 Europe, primarily North Sea 83,767 72,544 75,382 Middle East and Asia 99,974 129,476 84,598 Brazil, Mexico, Central and South America 110,238 126,613 139,433 $ 1,555,668 $ 1,583,625 $ 1,502,673 |
Supplemental Information For 40
Supplemental Information For Statements Of Cash Flows (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Supplemental Cash Flow Information [Abstract] | |
Cash Flow Supplemental Information | Supplemental information for the years ended December 31 was as follows (in thousands): 2016 2015 2014 Income taxes paid $ 11,933 $ 23,791 $ 52,348 Income taxes refunded 3,933 4,550 2,055 Interest paid, excluding capitalized interest 26,662 23,957 24,719 Schedule of Non-Cash Investing and Financing Activities: Company financed sale of equipment and real property 7,950 1,768 45,305 Reclassification of Dorian to marketable securities — 102,509 — Services received to settle notes receivable — 2,500 — Equipment received to settle notes receivable 14,400 — — Non-cash proceeds on the sale of property and equipment 2,000 — — |
Quarterly Financial Informati41
Quarterly Financial Information (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Quarterly Financial Data [Abstract] | |
Quarterly Financial Information | Three Months Ended Dec. 31, Sept. 30, June 30, March 31, 2016 Operating Revenues $ 213,036 $ 206,983 $ 197,038 $ 213,928 Operating Loss (99,364 ) (33,016 ) (30,151 ) (10,016 ) Net Loss (90,289 ) (34,026 ) (50,933 ) (20,524 ) Net Loss attributable to SEACOR Holdings Inc. (93,749 ) (39,803 ) (55,159 ) (27,186 ) Basic Loss Per Common Share of SEACOR Holdings Inc. $ (5.52 ) $ (2.35 ) $ (3.26 ) $ (1.62 ) Diluted Loss Per Common Share of SEACOR Holdings Inc. $ (5.52 ) $ (2.35 ) $ (3.26 ) $ (1.62 ) 2015 Operating Revenues $ 250,631 $ 261,852 $ 281,609 $ 260,644 Operating Income (Loss) (928 ) 28,221 7,499 (13,667 ) Net Income (Loss) (49,853 ) 16,405 (8,501 ) (17,901 ) Net Income (Loss) attributable to SEACOR Holdings Inc. (56,865 ) 6,965 687 (19,569 ) Basic Earnings (Loss) Per Common Share of SEACOR Holdings Inc. $ (3.36 ) $ 0.40 $ 0.04 $ (1.10 ) Diluted Earnings (Loss) Per Common Share of SEACOR Holdings Inc. $ (3.36 ) $ 0.40 $ 0.04 $ (1.10 ) |
Nature Of Operations And Acco42
Nature Of Operations And Accounting Policies (Narrative) (Details) | 12 Months Ended | ||
Dec. 31, 2016USD ($)equipmentshares | Dec. 31, 2015USD ($)equipment | Dec. 31, 2014USD ($)equipment | |
Nature of Operations and Accounting Policies [Line Items] | |||
Inventory write-down | $ 2,700,000 | $ 3,000,000 | $ 400,000 |
Depreciation | 122,500,000 | 122,900,000 | 127,600,000 |
Capitalized interest | 18,500,000 | 18,500,000 | 17,000,000 |
Amortization expense | 2,477,000 | 3,100,000 | 4,300,000 |
Asset Impairment Charges | (130,800,000) | (7,100,000) | (4,400,000) |
Equity Method Investment, Other than Temporary Impairment | 14,700,000 | $ 3,300,000 | |
Investment Owned, at Cost | $ 4,432,000 | $ 16,045,000 | |
Offshore Marine Services [Member] | |||
Nature of Operations and Accounting Policies [Line Items] | |||
Percentage of Operating Revenues | 26.00% | 35.00% | 40.00% |
Asset Impairment Charges | $ (119,700,000) | ||
Goodwill, Impairment Loss | $ 13,400,000 | ||
Inland River Services [Member] | |||
Nature of Operations and Accounting Policies [Line Items] | |||
Percentage of Operating Revenues | 20.00% | 22.00% | 19.00% |
Shipping Services [Member] | |||
Nature of Operations and Accounting Policies [Line Items] | |||
Percentage of Operating Revenues | 28.00% | 21.00% | 16.00% |
Illinois Corn Processing Llc [Member] | |||
Nature of Operations and Accounting Policies [Line Items] | |||
Percentage of Operating Revenues | 21.00% | 16.00% | 18.00% |
Witt O'Brien's LLC [Member] | |||
Nature of Operations and Accounting Policies [Line Items] | |||
Percentage of Operating Revenues | 5.00% | 5.00% | 2.00% |
Goodwill, Impairment Loss | $ 19,600,000 | ||
Dorian LPG [Member] | |||
Nature of Operations and Accounting Policies [Line Items] | |||
Investment Owned, Balance, Shares | shares | 9,177,135 | ||
Investment Owned, at Fair Value | $ 8.21 | $ 11.77 | |
Investment Owned, at Cost | $ 13.66 | ||
Offshore Support Vessels Anchor Handling Towing Supply [Member] | |||
Nature of Operations and Accounting Policies [Line Items] | |||
Number of Equipments Removed from Service | equipment | 0 | 0 | 1 |
Offshore Support Vessels Anchor Handling Towing Supply [Member] | Offshore Marine Services [Member] | |||
Nature of Operations and Accounting Policies [Line Items] | |||
Asset Impairment Charges | $ (62,800,000) | ||
Property, Plant and Equipment, Useful Life | 4 years | ||
Liftboats [Member] | |||
Nature of Operations and Accounting Policies [Line Items] | |||
Number of Equipments Removed from Service | equipment | 0 | 0 | 1 |
Liftboats [Member] | Offshore Marine Services [Member] | |||
Nature of Operations and Accounting Policies [Line Items] | |||
Asset Impairment Charges | $ (19,900,000) | ||
Property, Plant and Equipment, Useful Life | 6 years | ||
Offshore Support Vessels Specialty [Member] | Offshore Marine Services [Member] | |||
Nature of Operations and Accounting Policies [Line Items] | |||
Asset Impairment Charges | $ (12,700,000) | ||
Property, Plant and Equipment, Useful Life | 6 years | ||
Offshore Support Vessels [Member] | |||
Nature of Operations and Accounting Policies [Line Items] | |||
Asset Impairment Charges | $ (120,800,000) | $ (6,600,000) | |
Number of Equipments Removed from Service | equipment | 9 | 2 | 14 |
Offshore Support Vessels [Member] | Offshore Marine Services [Member] | |||
Nature of Operations and Accounting Policies [Line Items] | |||
Asset Impairment Charges | $ (3,600,000) | ||
Disposal Group, Held-for-sale, Not Discontinued Operations [Member] | Offshore Support Vessels [Member] | Offshore Marine Services [Member] | |||
Nature of Operations and Accounting Policies [Line Items] | |||
Asset Impairment Charges | $ (20,700,000) |
Nature Of Operations And Acco43
Nature Of Operations And Accounting Policies (Deferred Revenues Included In Other Current Liabilities) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Balance at beginning of period | $ 6,953 | $ 6,794 | $ 6,592 |
Revenues deferred during the year | 0 | 159 | 202 |
Balance at end of period | 6,953 | $ 6,953 | $ 6,794 |
Offshore Marine Services [Member] | |||
Balance at end of period | $ 6,800 |
Nature Of Operations And Acco44
Nature Of Operations And Accounting Policies (Estimated Useful life Of Major Assets) (Details) | 12 Months Ended |
Dec. 31, 2016 | |
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 and Harbor Boats [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 and Offshore 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 Acco45
Nature Of Operations And Accounting Policies (Schedule Of Property And Equipment By Major Classes) (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Gross | $ 2,194,023 | $ 2,123,201 | |
Accumulated Depreciation | (1,008,867) | (994,181) | |
Net property and equipment | 1,555,668 | 1,583,625 | $ 1,502,673 |
Property, Plant and Equipment, Other, Gross | 1,185,156 | 1,129,020 | |
Offshore Marine Services [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Gross | 958,759 | 1,102,619 | |
Accumulated Depreciation | (540,619) | (546,962) | |
Net property and equipment | 418,140 | 555,657 | |
Offshore Marine Services [Member] | Offshore Support Vessels Anchor Handling Towing Supply [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Gross | 228,857 | 301,707 | |
Accumulated Depreciation | (183,757) | (168,534) | |
Net property and equipment | 45,100 | 133,173 | |
Offshore Marine Services [Member] | Offshore Support Vessels Fast Support [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Gross | 251,415 | 222,720 | |
Accumulated Depreciation | (72,599) | (61,515) | |
Net property and equipment | 178,816 | 161,205 | |
Offshore Marine Services [Member] | Offshore Support Vessels Supply [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Gross | 96,774 | 139,315 | |
Accumulated Depreciation | (58,028) | (80,862) | |
Net property and equipment | 38,746 | 58,453 | |
Offshore Marine Services [Member] | Offshore Support Vessels Standby Safety [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Gross | 109,436 | 141,864 | |
Accumulated Depreciation | (88,020) | (113,136) | |
Net property and equipment | 21,416 | 28,728 | |
Offshore Marine Services [Member] | Offshore Support Vessels Specialty [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Gross | 45,765 | 46,522 | |
Accumulated Depreciation | (24,063) | (21,224) | |
Net property and equipment | 21,702 | 25,298 | |
Offshore Marine Services [Member] | Liftboats [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Gross | 104,356 | 122,764 | |
Accumulated Depreciation | (45,447) | (36,154) | |
Net property and equipment | 58,909 | 86,610 | |
Offshore Marine Services [Member] | Wind Farm Utility Vessel [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Gross | 60,671 | 66,950 | |
Accumulated Depreciation | (29,019) | (26,773) | |
Net property and equipment | 31,652 | 40,177 | |
Offshore Marine Services [Member] | Offshore Support Vessels Machinery and Spares [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Gross | 32,921 | 34,116 | |
Accumulated Depreciation | (20,008) | (19,480) | |
Net property and equipment | 12,913 | 14,636 | |
Offshore Marine Services [Member] | Property, Plant and Equipment, Other Types [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Gross | 28,564 | 26,661 | |
Accumulated Depreciation | (19,678) | (19,284) | |
Net property and equipment | 8,886 | 7,377 | |
Inland River Services [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Gross | 419,714 | 485,144 | |
Accumulated Depreciation | (167,127) | (171,271) | |
Net property and equipment | 252,587 | 313,873 | |
Inland River Services [Member] | Property, Plant and Equipment, Other Types [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Gross | 18,145 | 16,910 | |
Accumulated Depreciation | (6,658) | (4,877) | |
Net property and equipment | 11,487 | 12,033 | |
Inland River Services [Member] | Inland River Dry Cargo Barges [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Gross | 246,237 | 226,916 | |
Accumulated Depreciation | (97,602) | (86,068) | |
Net property and equipment | 148,635 | 140,848 | |
Inland River Services [Member] | Inland River Liquid Tank Barges [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Gross | 16,114 | 61,175 | |
Accumulated Depreciation | (1,982) | (14,638) | |
Net property and equipment | 14,132 | 46,537 | |
Inland River Services [Member] | Inland River Towboats [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Gross | 14,675 | 67,265 | |
Accumulated Depreciation | (1,320) | (15,670) | |
Net property and equipment | 13,355 | 51,595 | |
Inland River Services [Member] | Inland River Harbor Boats [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Gross | 17,338 | 10,206 | |
Accumulated Depreciation | (5,715) | (5,136) | |
Net property and equipment | 11,623 | 5,070 | |
Inland River Services [Member] | Inland River Deck Barges [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Gross | 12,292 | 12,293 | |
Accumulated Depreciation | (4,869) | (3,992) | |
Net property and equipment | 7,423 | 8,301 | |
Inland River Services [Member] | Terminal And Manufacturing Facilities [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Gross | 94,913 | 90,379 | |
Accumulated Depreciation | (48,981) | (40,890) | |
Net property and equipment | 45,932 | 49,489 | |
Shipping Services [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Gross | 727,602 | 454,144 | |
Accumulated Depreciation | (258,004) | (239,076) | |
Net property and equipment | 469,598 | 215,068 | |
Shipping Services [Member] | Property, Plant and Equipment, Other Types [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Gross | 18,825 | 21,049 | |
Accumulated Depreciation | (6,004) | (8,985) | |
Net property and equipment | 12,821 | 12,064 | |
Shipping Services [Member] | U.S.-flag Product Tankers [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Gross | 546,019 | 271,141 | |
Accumulated Depreciation | (189,536) | (168,838) | |
Net property and equipment | 356,483 | 102,303 | |
Shipping Services [Member] | U.S.-flag Harbor Tugs [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Gross | 72,877 | 72,073 | |
Accumulated Depreciation | (34,606) | (37,418) | |
Net property and equipment | 38,271 | 34,655 | |
Shipping Services [Member] | Foreign-flag Harbor Tugs [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Gross | 29,689 | 29,689 | |
Accumulated Depreciation | (9,480) | (8,291) | |
Net property and equipment | 20,209 | 21,398 | |
Shipping Services [Member] | Ocean Liquid Tank Barge [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Gross | 39,238 | 39,238 | |
Accumulated Depreciation | (11,604) | (10,175) | |
Net property and equipment | 27,634 | 29,063 | |
Shipping Services [Member] | Short-sea Container\RORO Vessels [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Gross | 20,954 | 20,954 | |
Accumulated Depreciation | (6,774) | (5,369) | |
Net property and equipment | 14,180 | 15,585 | |
Illinois Corn Processing Llc [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Gross | 56,708 | 47,256 | |
Accumulated Depreciation | (23,689) | (19,390) | |
Net property and equipment | 33,019 | 27,866 | |
Illinois Corn Processing Llc [Member] | Terminal And Manufacturing Facilities [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Gross | 55,028 | 45,576 | |
Accumulated Depreciation | (23,689) | (19,390) | |
Net property and equipment | 31,339 | 26,186 | |
Illinois Corn Processing Llc [Member] | Land [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Gross | 1,680 | 1,680 | |
Accumulated Depreciation | 0 | 0 | |
Net property and equipment | 1,680 | 1,680 | |
Witt O'Brien's LLC [Member] | Property, Plant and Equipment, Other Types [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Gross | 1,559 | 3,338 | |
Accumulated Depreciation | (1,244) | (2,834) | |
Net property and equipment | 315 | 504 | |
Corporate And Eliminations [Member] | Property, Plant and Equipment, Other Types [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Gross | 29,681 | 30,700 | |
Accumulated Depreciation | (18,184) | (14,648) | |
Net property and equipment | $ 11,497 | $ 16,052 |
Nature Of Operations And Acco46
Nature Of Operations And Accounting Policies (Schedule Of Intangible Assets) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Finite-Lived Intangible Assets [Line Items] | |||
Intangible Assets, Gross, Beginning Balance | $ 33,216 | $ 63,888 | |
Acquired intangible assets | (7,098) | (3,157) | |
Foreign currency translation | 9 | (78) | |
Impairment of Intangible Assets, Finite-lived | (10,944) | ||
Finite-Lived Intangible Assets, Period Increase (Decrease) | (432) | (27,437) | |
Intangible Assets, Gross, Ending Balance | 28,947 | 33,216 | $ 63,888 |
Accumulated Amortization, Beginning Balance | 6,824 | 31,161 | |
Amortization expense | 2,477 | 3,100 | 4,300 |
Fully amortized intangible assets, Accumulated Amortization | 432 | 27,437 | |
Accumulated Amortization, Ending Balance | $ 8,869 | 6,824 | 31,161 |
Weighted average remaining contractual life, in years | 8 years 219 days | ||
Trademark/Tradenames | |||
Finite-Lived Intangible Assets [Line Items] | |||
Intangible Assets, Gross, Beginning Balance | $ 4,920 | 10,681 | |
Acquired intangible assets | 0 | (1,024) | |
Foreign currency translation | 0 | 0 | |
Impairment of Intangible Assets, Finite-lived | (1,596) | ||
Finite-Lived Intangible Assets, Period Increase (Decrease) | 0 | (4,737) | |
Intangible Assets, Gross, Ending Balance | 3,324 | 4,920 | 10,681 |
Accumulated Amortization, Beginning Balance | 1,316 | 5,429 | |
Amortization expense | 332 | 624 | |
Fully amortized intangible assets, Accumulated Amortization | 0 | 4,737 | |
Accumulated Amortization, Ending Balance | $ 1,648 | 1,316 | 5,429 |
Weighted average remaining contractual life, in years | 5 years | ||
Customer Relationships | |||
Finite-Lived Intangible Assets [Line Items] | |||
Intangible Assets, Gross, Beginning Balance | $ 23,737 | 48,570 | |
Acquired intangible assets | (1,598) | (2,133) | |
Foreign currency translation | 0 | 0 | |
Impairment of Intangible Assets, Finite-lived | (8,128) | ||
Finite-Lived Intangible Assets, Period Increase (Decrease) | 0 | (22,700) | |
Intangible Assets, Gross, Ending Balance | 17,207 | 23,737 | 48,570 |
Accumulated Amortization, Beginning Balance | 4,022 | 24,179 | |
Amortization expense | 1,687 | 2,543 | |
Fully amortized intangible assets, Accumulated Amortization | 0 | 22,700 | |
Accumulated Amortization, Ending Balance | $ 5,709 | 4,022 | 24,179 |
Weighted average remaining contractual life, in years | 9 years 88 days | ||
Software/Technology | |||
Finite-Lived Intangible Assets [Line Items] | |||
Intangible Assets, Gross, Beginning Balance | $ 1,652 | 1,652 | |
Acquired intangible assets | 0 | 0 | |
Foreign currency translation | 0 | 0 | |
Impairment of Intangible Assets, Finite-lived | (1,220) | ||
Finite-Lived Intangible Assets, Period Increase (Decrease) | (432) | 0 | |
Intangible Assets, Gross, Ending Balance | 0 | 1,652 | 1,652 |
Accumulated Amortization, Beginning Balance | 288 | 96 | |
Amortization expense | 144 | 192 | |
Fully amortized intangible assets, Accumulated Amortization | 432 | 0 | |
Accumulated Amortization, Ending Balance | $ 0 | 288 | 96 |
Weighted average remaining contractual life, in years | 1 day | ||
Acquired Contractual Rights | |||
Finite-Lived Intangible Assets [Line Items] | |||
Intangible Assets, Gross, Beginning Balance | $ 2,907 | 2,985 | |
Acquired intangible assets | (5,500) | 0 | |
Foreign currency translation | 9 | (78) | |
Impairment of Intangible Assets, Finite-lived | 0 | ||
Finite-Lived Intangible Assets, Period Increase (Decrease) | 0 | 0 | |
Intangible Assets, Gross, Ending Balance | 8,416 | 2,907 | 2,985 |
Accumulated Amortization, Beginning Balance | 1,198 | 1,457 | |
Amortization expense | 314 | (259) | |
Fully amortized intangible assets, Accumulated Amortization | 0 | 0 | |
Accumulated Amortization, Ending Balance | $ 1,512 | $ 1,198 | $ 1,457 |
Weighted average remaining contractual life, in years | 8 years 150 days |
Nature Of Operations And Acco47
Nature Of Operations And Accounting Policies (Schedule Of Future Amortization Expense Of Intangible Assets) (Details) $ in Thousands | Dec. 31, 2016USD ($) |
Finite-Lived Intangible Assets, Future Amortization Expense [Abstract] | |
2,017 | $ 2,346 |
2,018 | 2,173 |
2,019 | 2,227 |
2,020 | 2,227 |
2,021 | 2,227 |
Years subsequent to 2021 | 8,878 |
Total | $ 20,078 |
Nature Of Operations And Acco48
Nature Of Operations And Accounting Policies (Schedule Of Deferred Gain Activity) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Sale Leaseback and Financed Equipment Sales | |||
Deferred Revenue Arrangement [Line Items] | |||
Balance at beginning of period | $ 123,376 | $ 146,534 | $ 110,542 |
Deferred gains arising from equipment sales | 9,003 | 5,984 | 71,367 |
Amortization of deferred gains included in operating expenses as a reduction to rental expense | 23,272 | 22,521 | 18,847 |
Amortization Of Deferred Gains Included In Gains On Asset Dispositions And Impairments, Net | (602) | (4,954) | (15,686) |
Other | (1,697) | (1,667) | (842) |
Balance at end of period | 106,808 | 123,376 | 146,534 |
Fifty Percent Or Less Owned Subsidiaries | |||
Deferred Revenue Arrangement [Line Items] | |||
Balance at beginning of period | 12,533 | 13,377 | 14,221 |
Amortization Of Deferred Gains Included In Gains On Asset Dispositions And Impairments, Net | (1,855) | (844) | (844) |
Other | (1,153) | 0 | 0 |
Balance at end of period | $ 9,525 | $ 12,533 | $ 13,377 |
Nature Of Operations And Acco49
Nature Of Operations And Accounting Policies Nature Of Operations And Accounting Policies (Schedule of Accumulated Other Comprehensive Income (Loss))(Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Accumulated Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Net of Tax | $ (11,593) | $ (5,528) | $ (3,494) | $ (927) |
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, before Tax, Portion Attributable to Parent | (9,331) | (3,129) | (3,949) | |
Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Tax, Portion Attributable to Parent | 3,266 | 1,095 | 1,382 | |
Accumulated Other Comprehensive Income (Loss), Cumulative Changes in Net Gain (Loss) from Cash Flow Hedges, Effect Net of Tax | 75 | (116) | (16) | (257) |
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, before Tax, Portion Attributable to Parent | 294 | (154) | 371 | |
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Tax, Portion Attributable to Parent | (103) | 54 | (130) | |
Accumulated Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Net of Tax | 4 | 24 | 5 | (8) |
Other Comprehensive (Income) Loss, Pension and Other Postretirement Benefit Plans, Adjustment, before Tax, Portion Attributable to Parent | (31) | 29 | 20 | |
Other Comprehensive (Income) Loss, Pension and Other Postretirement Benefit Plans, Tax, Portion Attributable to Parent | 11 | (10) | (7) | |
Accumulated Other Comprehensive Income (Loss), Net of Tax | (11,514) | (5,620) | (3,505) | (1,192) |
Other Comprehensive Income (Loss), before Tax, Portion Attributable to Parent | (9,068) | (3,254) | (3,558) | |
Other Comprehensive Income (Loss), Tax, Portion Attributable to Parent | 3,174 | 1,139 | 1,245 | |
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax, Portion Attributable to Noncontrolling Interest | (1,085) | |||
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax, Portion Attributable to Noncontrolling Interest | (17) | 0 | 0 | |
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, before Tax, Portion Attributable to Noncontrolling Interest | (442) | (481) | ||
Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Tax, Portion Attributable to Noncontrolling Interest | 0 | 0 | 0 | |
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Tax, Portion Attributable to Noncontrolling Interest | 0 | 0 | 0 | |
Other Comprehensive (Income) Loss, Pension and Other Postretirement Benefit Plans, Adjustment, before Tax, Portion Attributable to Noncontrolling Interest | (13) | 13 | 8 | |
Other Comprehensive (Income) Loss, Pension and Other Postretirement Benefit Plans, Tax, Portion Attributable to Noncontrolling Interest | 0 | 0 | 0 | |
Other Comprehensive Loss, before Tax | (10,183) | (3,683) | (4,031) | |
Other Comprehensive Income (Loss), Tax | 3,174 | 1,139 | 1,245 | |
Other Comprehensive Income (Loss), Net of Tax | (7,009) | (2,544) | (2,786) | |
Non-Controlling Interests In Subsidiaries [Member] | ||||
Accumulated Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Net of Tax | (1,613) | (528) | (86) | 395 |
Accumulated Other Comprehensive Income (Loss), Cumulative Changes in Net Gain (Loss) from Cash Flow Hedges, Effect Net of Tax | (17) | 0 | 0 | 0 |
Accumulated Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Net of Tax | 3 | 16 | 3 | $ (5) |
Other Comprehensive Income (Loss), Net of Tax | $ (1,115) | $ (429) | $ (473) |
Nature Of Operations And Acco50
Nature Of Operations And Accounting Policies (Schedule Of Earnings Per Share) (Details) - USD ($) | 3 Months Ended | 12 Months Ended | ||||||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 01, 2015 | Nov. 13, 2013 | Dec. 11, 2012 | |
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items] | ||||||||||||||
Net Income (Loss) attributable to SEACOR Holdings Inc. | $ (93,749,000) | $ (39,803,000) | $ (55,159,000) | $ (27,186,000) | $ (56,865,000) | $ 6,965,000 | $ 687,000 | $ (19,569,000) | $ (215,897,000) | $ (68,782,000) | $ 100,132,000 | |||
Dilutive Securities, Effect on Basic Earnings Per Share, Options and Restrictive Stock Units | 0 | 0 | 0 | |||||||||||
Dilutive Securities, Effect on Basic Earnings Per Share, Dilutive Convertible Securities | 0 | 0 | 21,156,000 | |||||||||||
Net Income (Loss) Available to Common Stockholders, Diluted | $ (215,897,000) | $ (68,782,000) | $ 121,288,000 | |||||||||||
Average o/s Shares, Basic | 16,914,928 | 17,446,137 | 19,336,280 | |||||||||||
Incremental Common Shares Attributable to Share-based Payment Arrangements | 0 | 0 | 403,194 | |||||||||||
Convertible Securities | 0 | 0 | 6,025,851 | |||||||||||
Average o/s Shares, Diluted | 16,914,928 | 17,446,137 | 25,765,325 | |||||||||||
Basic Earnings (Loss) Per Common Share of SEACOR Holdings Inc. | $ (5.52) | $ (2.35) | $ (3.26) | $ (1.62) | $ (3.36) | $ 0.40 | $ 0.04 | $ (1.10) | $ (12.76) | $ (3.94) | $ 5.18 | |||
Diluted Earnings (Loss) Per Common Share of SEACOR Holdings Inc. | $ (5.52) | $ (2.35) | $ (3.26) | $ (1.62) | $ (3.36) | $ 0.40 | $ 0.04 | $ (1.10) | $ (12.76) | $ (3.94) | $ 4.71 | |||
Two Point Five Percentage Convertible Notes [Member] | ||||||||||||||
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items] | ||||||||||||||
Convertible Securities | 1,885,772 | |||||||||||||
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% | |||||||||||
Three Point Seven Five Percentage Convertible Notes [Member] | ||||||||||||||
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items] | ||||||||||||||
Convertible Securities | 2,243,500 | |||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 3.75% | |||||||||||||
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 | 2,020,677 | 2,078,777 | 407,698 | |||||||||||
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 | 2,664,208 | 4,148,327 | ||||||||||||
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 | 1,825,326 | 1,825,326 | ||||||||||||
Convertible Debt Securities [Member] | Three Point Seven 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 | 2,243,500 | 190,544 |
Business Acquisitions (Details)
Business Acquisitions (Details) | 12 Months Ended | |||||
Dec. 31, 2016USD ($)equipment | Dec. 31, 2015USD ($)equipment | Dec. 31, 2014USD ($)equipment | Dec. 12, 2016USD ($) | Dec. 02, 2016 | Jul. 11, 2014 | |
Business Acquisition [Line Items] | ||||||
Goodwill, Gross | $ 0 | $ 3,157,000 | $ 44,967,000 | |||
Restricted cash | 275,000 | 0 | 0 | |||
Trade and other receivables | 2,187,000 | 0 | 31,079,000 | |||
Other current assets | 150,000 | 0 | 1,925,000 | |||
Investments, at Equity, and Advances to 50% or Less Owned Companies | (3,437,000) | 0 | (49,968,000) | |||
Property and Equipment | 17,132,000 | 0 | 519,000 | |||
Intangible Assets | 7,098,000 | (3,157,000) | 24,901,000 | |||
Other Assets | 0 | 0 | 111,000 | |||
Accounts payable | 238,000 | 0 | (1,709,000) | |||
Other current liabilities | (13,000) | 0 | (12,274,000) | |||
Long-Term Debt | (3,091,000) | 0 | (3,266,000) | |||
Deferred Income Taxes | 0 | 0 | 91,000 | |||
Other Liabilities | 0 | 0 | (1,376,000) | |||
Purchase price | 20,539,000 | 0 | 35,000,000 | |||
Cash Acquired from Acquisition | 900,000 | 400,000 | ||||
Witt O'Brien's LLC [Member] | ||||||
Business Acquisition [Line Items] | ||||||
Business Acquisition, Percentage of Voting Interests Acquired | 45.80% | |||||
Payments to Acquire Businesses, Gross | $ 35,400,000 | |||||
Goodwill, Gross | $ 48,100,000 | |||||
Central Contracting & Marine, Inc. [Member] | ||||||
Business Acquisition [Line Items] | ||||||
Payments to Acquire Businesses, Gross | $ 18,100,000 | |||||
Number Of Equipments Acquired | equipment | 5 | |||||
SeaJon II [Member] | ||||||
Business Acquisition [Line Items] | ||||||
Business Acquisition, Percentage of Voting Interests Acquired | 50.00% | |||||
Payments to Acquire Businesses, Gross | $ 3,400,000 | |||||
Number Of Equipments Acquired | equipment | 1 | |||||
Cypress CKOR LLC [Member] | ||||||
Business Acquisition [Line Items] | ||||||
Business Acquisition, Percentage of Voting Interests Acquired | 100.00% | |||||
Payments to Acquire Businesses, Gross | $ 1 | |||||
Number Of Equipments Acquired | equipment | 1 | |||||
Long-Term Debt | $ (3,100,000) | |||||
Inland River Harbor Boats [Member] | Central Contracting & Marine, Inc. [Member] | ||||||
Business Acquisition [Line Items] | ||||||
Number Of Equipments Acquired | equipment | 5 | |||||
U.S-flag Offshore Tug [Member] | SeaJon II [Member] | ||||||
Business Acquisition [Line Items] | ||||||
Number Of Equipments Acquired | equipment | 1 | |||||
Offshore Support Vessels [Member] | ||||||
Business Acquisition [Line Items] | ||||||
Number Of Equipments Acquired | equipment | 17 | 6 | 7 | |||
Offshore Support Vessels [Member] | Cypress CKOR LLC [Member] | ||||||
Business Acquisition [Line Items] | ||||||
Number Of Equipments Acquired | equipment | 1 |
Equipment Acquisitions And Di52
Equipment Acquisitions And Dispositions (Major Equipment Deliveries) (Details) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016USD ($)equipment | Dec. 31, 2015USD ($)equipment | Dec. 31, 2014USD ($)equipment | |
Payments to Acquire Property, Plant, and Equipment | $ | $ 358,413 | $ 295,930 | $ 360,637 |
Offshore Support Vessels Fast Support [Member] | |||
Number Of Equipments Acquired | 12 | 3 | 3 |
Offshore Support Vessels Supply [Member] | |||
Number Of Equipments Acquired | 2 | 1 | 2 |
Offshore Support Vessels Specialty [Member] | |||
Number Of Equipments Acquired | 1 | 0 | 0 |
Wind Farm Utility Vessel [Member] | |||
Number Of Equipments Acquired | 2 | 2 | 2 |
Offshore Support Vessels [Member] | |||
Number Of Equipments Acquired | 17 | 6 | 7 |
Inland River Dry Cargo Barges [Member] | |||
Number Of Equipments Acquired | 46 | 0 | 65 |
Inland River Liquid Tank Barges - 10,000 Barrel [Member] | |||
Number Of Equipments Acquired | 0 | 8 | 0 |
Inland River Specialty Barges [Member] | |||
Number Of Equipments Acquired | 0 | 4 | 0 |
Inland River Towboats [Member] | |||
Number Of Equipments Acquired | 2 | 9 | 1 |
U S Flag Tankers [Member] | |||
Number Of Equipments Acquired | 3 | 0 | 0 |
Short-sea Container\RORO Vessels [Member] | |||
Number Of Equipments Acquired | 0 | 0 | 1 |
U.S.-flag Harbor Tugs [Member] | |||
Number Of Equipments Acquired | 1 | 0 | 0 |
Central Contracting & Marine, Inc. [Member] | |||
Number Of Equipments Acquired | 5 | ||
Cypress CKOR LLC [Member] | |||
Number Of Equipments Acquired | 1 | ||
Cypress CKOR LLC [Member] | Offshore Support Vessels [Member] | |||
Number Of Equipments Acquired | 1 | ||
SeaJon II [Member] | |||
Number Of Equipments Acquired | 1 | ||
Fair Value Hedging [Member] | |||
Payments to Acquire Property, Plant, and Equipment | $ | $ 358,786 |
Equipment Acquisitions And Di53
Equipment Acquisitions And Dispositions (Narrative) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Business Acquisition [Line Items] | |||
Sales Price Of Equipment | $ 194,400 | $ 97,200 | $ 300,100 |
Proceeds from Sale of Property, Plant, and Equipment | 184,947 | 95,460 | 254,763 |
Proceeds from Issuance of Secured Debt | 8,000 | 1,700 | 45,300 |
Gain (Loss) on Disposition of Property Plant Equipment | 14,700 | 18,300 | 111,200 |
Increase (Decrease) in Deferred Charges | 9,000 | 6,000 | 71,400 |
Sale Leaseback Transaction, Net Proceeds, Investing Activities | 61,000 | 35,300 | 141,800 |
Sale Leaseback Transaction, Deferred Gain, Net | 8,200 | $ 4,200 | $ 52,000 |
Deposits | 500 | ||
Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member] | |||
Business Acquisition [Line Items] | |||
Proceeds from Sale of Property, Plant, and Equipment | 184,400 | ||
Offshore Support Vessels Anchor Handling Towing Supply [Member] | |||
Business Acquisition [Line Items] | |||
Sale Leaseback Transaction, Description of Asset(s) | 1 | ||
Offshore Support Vessels Fast Support [Member] | |||
Business Acquisition [Line Items] | |||
Sale Leaseback Transaction, Description of Asset(s) | 1 | ||
Inland River Towboats [Member] | |||
Business Acquisition [Line Items] | |||
Sale Leaseback Transaction, Description of Asset(s) | 4 | ||
Liftboats [Member] | |||
Business Acquisition [Line Items] | |||
Sale Leaseback Transaction, Description of Asset(s) | 1 | ||
U.S.-flag Harbor Tugs [Member] | |||
Business Acquisition [Line Items] | |||
Noncash or Part Noncash Divestiture, Amount of Consideration Received | $ 2,000 | $ 0 | $ 0 |
U.S.-flag Product Tankers [Member] | |||
Business Acquisition [Line Items] | |||
Sale Leaseback Transaction, Description of Asset(s) | 1 | 1 | |
Sale Leaseback Transaction, Lease Terms | 76 | ||
Minimum [Member] | |||
Business Acquisition [Line Items] | |||
Sale Leaseback Transaction, Lease Terms | 10 | ||
Minimum [Member] | U.S.-flag Product Tankers [Member] | |||
Business Acquisition [Line Items] | |||
Sale Leaseback Transaction, Lease Terms | 69 | ||
Maximum [Member] | |||
Business Acquisition [Line Items] | |||
Sale Leaseback Transaction, Lease Terms | 84 | 84 | |
Maximum [Member] | U.S.-flag Product Tankers [Member] | |||
Business Acquisition [Line Items] | |||
Sale Leaseback Transaction, Lease Terms | 85 | ||
Inland River Joint Venture [Member] | Inland River Towboats [Member] | |||
Business Acquisition [Line Items] | |||
Property, Plant and Equipment, Dispositions | 1 | ||
Inland River Joint Venture [Member] | Inland River Dry Cargo Barges [Member] | |||
Business Acquisition [Line Items] | |||
Property, Plant and Equipment, Dispositions | 20 | ||
Offshore Marine Services Joint Ventures [Member] | Offshore Support Vessels [Member] | |||
Business Acquisition [Line Items] | |||
Property, Plant and Equipment, Dispositions | 2 | ||
Gain (Loss) on Asset Dispositions and Impairments, Net [Member] | |||
Business Acquisition [Line Items] | |||
Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property | $ 5,700 | $ 12,300 | $ 39,800 |
Amortization of Deferred Charges | $ 2,500 | $ 5,800 | 16,500 |
Financing Receivable [Member] | |||
Business Acquisition [Line Items] | |||
Sales Price Of Equipment | 45,300 | ||
Increase (Decrease) in Deferred Charges | $ 19,400 |
Equipment Acquisitions And Di54
Equipment Acquisitions And Dispositions (Major Equipment Dispositions) (Details) | 12 Months Ended | ||
Dec. 31, 2016USD ($)equipment | Dec. 31, 2015USD ($)equipment | Dec. 31, 2014USD ($)equipment | |
Offshore Support Vessels Standby Safety [Member] | |||
Number of Equipments Removed from Service | 4 | 0 | 0 |
Offshore Support Vessels Anchor Handling Towing Supply [Member] | |||
Number of Equipments Removed from Service | 0 | 0 | 1 |
Offshore Support Vessels Fast Support [Member] | |||
Number of Equipments Removed from Service | 0 | 1 | 7 |
Offshore Support Vessels Supply [Member] | |||
Number of Equipments Removed from Service | 5 | 1 | 4 |
Liftboats [Member] | |||
Number of Equipments Removed from Service | 0 | 0 | 1 |
Wind Farm Utility Vessel [Member] | |||
Number of Equipments Removed from Service | 0 | 0 | 1 |
Offshore Support Vessels [Member] | |||
Number of Equipments Removed from Service | 9 | 2 | 14 |
Inland River Dry Cargo Barges [Member] | |||
Number of Equipments Removed from Service | 0 | 0 | 80 |
Inland River Liquid Tank Barges - 10,000 Barrel [Member] | |||
Number of Equipments Removed from Service | 0 | 35 | 0 |
Inland River Liquid Tank Barges - 30,000 Barrel [Member] | |||
Number of Equipments Removed from Service | 19 | 0 | 0 |
Inland River Deck Barges [Member] | |||
Number of Equipments Removed from Service | $ | 0 | 12 | 0 |
Inland River Towboats [Member] | |||
Number of Equipments Removed from Service | 14 | 4 | 5 |
U.S.-flag Product Tankers [Member] | |||
Number of Equipments Removed from Service | 1 | 0 | 1 |
Short-sea Container\RORO Vessels [Member] | |||
Number of Equipments Removed from Service | 0 | 0 | 2 |
U.S.-flag Harbor Tugs [Member] | |||
Number of Equipments Removed from Service | 2 | 0 | 0 |
Investments, At Equity, And A55
Investments, At Equity, And Advances To 50% Or Less Owned Companies (Investments, At Equity, And Advances To 50% Or Less Owned Companies) (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 | Jun. 01, 2015 |
Schedule of Equity Method Investments [Line Items] | |||
Equity Method Investments | $ 313,772 | $ 331,103 | |
Falcon Global [Member] | |||
Schedule of Equity Method Investments [Line Items] | |||
Ownership of equity interest | 50.00% | ||
OSV Partners [Member] | |||
Schedule of Equity Method Investments [Line Items] | |||
Ownership of equity interest | 30.40% | ||
Trailer Bridge Inc [Member] | |||
Schedule of Equity Method Investments [Line Items] | |||
Ownership of equity interest | 55.30% | ||
VA&E [Member] | |||
Schedule of Equity Method Investments [Line Items] | |||
Ownership of equity interest | 41.30% | 81.10% | |
Offshore Marine Services [Member] | MexMar [Member] | |||
Schedule of Equity Method Investments [Line Items] | |||
Ownership of equity interest | 49.00% | ||
Equity Method Investments | $ 63,404 | 50,163 | |
Offshore Marine Services [Member] | Falcon Global [Member] | |||
Schedule of Equity Method Investments [Line Items] | |||
Ownership of equity interest | 50.00% | ||
Equity Method Investments | $ 18,539 | 17,951 | |
Offshore Marine Services [Member] | Dynamic Offshore Drilling Ltd. [Member] | |||
Schedule of Equity Method Investments [Line Items] | |||
Ownership of equity interest | 19.00% | ||
Equity Method Investments | $ 15,871 | 14,172 | |
Offshore Marine Services [Member] | Sea-Cat Crewzer II [Member] | |||
Schedule of Equity Method Investments [Line Items] | |||
Ownership of equity interest | 50.00% | ||
Equity Method Investments | $ 11,246 | 11,339 | |
Offshore Marine Services [Member] | OSV Partners [Member] | |||
Schedule of Equity Method Investments [Line Items] | |||
Ownership of equity interest | 30.40% | ||
Equity Method Investments | $ 9,245 | 11,374 | |
Offshore Marine Services [Member] | Nautical Power [Member] | |||
Schedule of Equity Method Investments [Line Items] | |||
Ownership of equity interest | 50.00% | ||
Equity Method Investments | $ 6,413 | 6,412 | |
Offshore Marine Services [Member] | Sea Cat Crewzer [Member] | |||
Schedule of Equity Method Investments [Line Items] | |||
Ownership of equity interest | 50.00% | ||
Equity Method Investments | $ 4,088 | 2,701 | |
Offshore Marine Services [Member] | Other Offshore Marine Services Joint Ventures [Member] | |||
Schedule of Equity Method Investments [Line Items] | |||
Equity Method Investments | $ 9,505 | 15,898 | |
Offshore Marine Services [Member] | Other Offshore Marine Services Joint Ventures [Member] | Minimum [Member] | |||
Schedule of Equity Method Investments [Line Items] | |||
Ownership of equity interest | 20.00% | ||
Offshore Marine Services [Member] | 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 [Member] | Offshore Marine Services Joint Ventures [Member] | |||
Schedule of Equity Method Investments [Line Items] | |||
Equity Method Investments | $ 138,311 | 130,010 | |
Inland River Services [Member] | SCFCo Holdings [Member] | |||
Schedule of Equity Method Investments [Line Items] | |||
Ownership of equity interest | 50.00% | ||
Equity Method Investments | $ 46,028 | 57,437 | |
Inland River Services [Member] | Bunge-SCF Grain [Member] | |||
Schedule of Equity Method Investments [Line Items] | |||
Ownership of equity interest | 50.00% | ||
Equity Method Investments | $ 16,176 | 16,695 | |
Inland River Services [Member] | SCF Bunge Marine [Member] | |||
Schedule of Equity Method Investments [Line Items] | |||
Ownership of equity interest | 50.00% | ||
Equity Method Investments | $ 4,233 | 4,544 | |
Inland River Services [Member] | Other Inland River Joint Ventures [Member] | |||
Schedule of Equity Method Investments [Line Items] | |||
Ownership of equity interest | 50.00% | ||
Equity Method Investments | $ 2,744 | 2,687 | |
Inland River Services [Member] | Inland River Joint Venture [Member] | |||
Schedule of Equity Method Investments [Line Items] | |||
Equity Method Investments | $ 69,181 | 81,363 | |
Shipping Services [Member] | Trailer Bridge Inc [Member] | |||
Schedule of Equity Method Investments [Line Items] | |||
Ownership of equity interest | 55.30% | ||
Equity Method Investments | $ 43,050 | 41,710 | |
Shipping Services [Member] | Sea-Access [Member] | |||
Schedule of Equity Method Investments [Line Items] | |||
Ownership of equity interest | 50.00% | ||
Equity Method Investments | $ 0 | 8,414 | |
Shipping Services [Member] | SeaJon [Member] | |||
Schedule of Equity Method Investments [Line Items] | |||
Ownership of equity interest | 50.00% | ||
Equity Method Investments | $ 8,570 | 7,987 | |
Shipping Services [Member] | SeaJon II [Member] | |||
Schedule of Equity Method Investments [Line Items] | |||
Ownership of equity interest | 50.00% | ||
Equity Method Investments | $ 0 | 6,388 | |
Shipping Services [Member] | Shipping Services Joint Ventures [Member] | |||
Schedule of Equity Method Investments [Line Items] | |||
Equity Method Investments | 51,620 | 64,499 | |
Corporate and Other [Member] | |||
Schedule of Equity Method Investments [Line Items] | |||
Equity Method Investments | $ 54,660 | 55,231 | |
Corporate and Other [Member] | Hawker Pacific Airservices Limited [Member] | |||
Schedule of Equity Method Investments [Line Items] | |||
Ownership of equity interest | 34.20% | ||
Equity Method Investments | $ 20,418 | 20,964 | |
Corporate and Other [Member] | VA&E [Member] | |||
Schedule of Equity Method Investments [Line Items] | |||
Ownership of equity interest | 41.30% | ||
Equity Method Investments | $ 11,133 | 13,954 | |
Corporate and Other [Member] | Avion Pacific Limited [Member] | |||
Schedule of Equity Method Investments [Line Items] | |||
Ownership of equity interest | 39.10% | ||
Equity Method Investments | $ 14,783 | 11,994 | |
Corporate and Other [Member] | Cleancor [Member] | |||
Schedule of Equity Method Investments [Line Items] | |||
Ownership of equity interest | 50.00% | ||
Equity Method Investments | $ 5,373 | 5,613 | |
Corporate and Other [Member] | Other Corporate Joint Ventures [Member] | |||
Schedule of Equity Method Investments [Line Items] | |||
Equity Method Investments | $ 2,953 | $ 2,706 | |
Corporate and Other [Member] | Other Corporate Joint Ventures [Member] | Minimum [Member] | |||
Schedule of Equity Method Investments [Line Items] | |||
Ownership of equity interest | 34.00% | ||
Corporate and Other [Member] | Other Corporate Joint Ventures [Member] | Maximum [Member] | |||
Schedule of Equity Method Investments [Line Items] | |||
Ownership of equity interest | 50.00% |
Investments, At Equity, And A56
Investments, At Equity, And Advances To 50% Or Less Owned Companies (Summarized Financial Information For The Company's Investments, At Equity) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Current assets | $ 745,872 | $ 603,446 | |
Noncurrent assets | 1,009,317 | 1,066,610 | |
Current liabilities | 622,530 | 401,987 | |
Noncurrent liabilities | 458,922 | 674,896 | |
Operating Revenues | 1,359,370 | 1,281,708 | $ 1,175,872 |
Costs and Expenses: Operating and administrative | 1,204,496 | 1,085,518 | 1,021,730 |
Costs and Expenses: Depreciation | 80,784 | 94,105 | 61,233 |
Total costs and expenses | 1,285,280 | 1,179,623 | 1,082,963 |
Gain (Loss) on Asset Dispositions | (27,900) | (2,174) | 368 |
Operating Income | 46,190 | 99,911 | 93,277 |
Net Income (Loss) | (34,569) | 18,835 | $ 29,296 |
Dorian LPG [Member] | |||
Current assets | 98,254 | 198,058 | |
Noncurrent assets | 1,724,758 | 812,164 | |
Current liabilities | 88,021 | 20,662 | |
Noncurrent liabilities | 759,636 | 125,716 | |
Operating Revenues | 239,206 | 78,666 | |
Operating Income | 126,820 | 20,494 | |
Net Income (Loss) | $ 118,356 | $ 15,122 |
Investments, At Equity, And A57
Investments, At Equity, And Advances To 50% Or Less Owned Companies (Narrative) (Details) | 12 Months Ended | |||||
Dec. 31, 2016USD ($)equipment | Dec. 31, 2015USD ($)equipmentshares | Dec. 31, 2014USD ($)equipment | Dec. 02, 2016 | Nov. 30, 2016USD ($) | Jun. 01, 2015 | |
Schedule of Equity Method Investments [Line Items] | ||||||
Cumulative undistributed net earnings of 50% or less owned companies accounted for by the equity method included in the Company's consolidated retained earnings | $ 7,800,000 | $ 19,900,000 | ||||
Proceeds from Issuance of Secured Debt | 8,000,000 | 1,700,000 | $ 45,300,000 | |||
Equity Method Investment, Other than Temporary Impairment | 14,700,000 | 3,300,000 | ||||
Letters of Credit Outstanding, Amount | 26,200,000 | |||||
Guarantor Obligations, Maximum Exposure, Undiscounted | 1,900,000 | |||||
Asset Impairment Charges | 130,800,000 | 7,100,000 | 4,400,000 | |||
MexMar [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Partners' Capital Account, Contributions | $ 7,400,000 | 7,900,000 | $ 2,900,000 | |||
Number Of Equipments Acquired | 2 | 2 | ||||
Repayments of Secured Debt | 15,000,000 | $ 10,700,000 | ||||
Property, Plant and Equipment, Additions | $ 34,000,000 | 32,000,000 | ||||
Payments to Acquire Machinery and Equipment | 6,400,000 | |||||
Proceeds from Issuance of Secured Debt | 25,600,000 | |||||
Related Party Transaction, Revenues from Transactions with Related Party | 300,000 | 400,000 | 300,000 | |||
Related party transaction expense | 5,100,000 | 11,600,000 | 13,500,000 | |||
Falcon Global [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Partners' Capital Account, Contributions | 7,700,000 | 15,700,000 | 3,400,000 | |||
Equity Method Investment, Other than Temporary Impairment | $ 6,400,000 | |||||
Equity Method Investment, Ownership Percentage | 50.00% | |||||
Guarantor Obligations, Maximum Exposure, Undiscounted | $ 51,800,000 | |||||
Equity Method Investment, Difference Between Carrying Amount and Underlying Equity | 6,400,000 | |||||
Sea-Cat Crewzer II [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Related Party Transaction, Revenues from Transactions with Related Party | 700,000 | 700,000 | 700,000 | |||
Guarantor Obligations, Maximum Exposure, Undiscounted | 11,600,000 | |||||
Proceeds from Equity Method Investment, Dividends or Distributions, Return of Capital | 1,800,000 | |||||
Partners' Capital Account, Return of Capital | 14,000,000 | |||||
OSV Partners [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Partners' Capital Account, Contributions | 1,200,000 | 1,400,000 | 5,100,000 | |||
Related Party Transaction, Revenues from Transactions with Related Party | $ 500,000 | 1,200,000 | 1,200,000 | |||
Equity Method Investment, Ownership Percentage | 30.40% | |||||
Sea Cat Crewzer [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Related Party Transaction, Revenues from Transactions with Related Party | $ 700,000 | 700,000 | 700,000 | |||
Related party transaction expense | 4,300,000 | 5,900,000 | 6,700,000 | |||
Guarantor Obligations, Maximum Exposure, Undiscounted | $ 10,300,000 | |||||
Proceeds from Equity Method Investment, Dividends or Distributions, Return of Capital | 1,300,000 | 3,300,000 | ||||
Partners' Capital Account, Return of Capital | 3,200,000 | |||||
Other Offshore Marine Services Joint Ventures [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Number of Equipment Operated | equipment | 10 | |||||
Partners' Capital Account, Contributions | $ 500,000 | 800,000 | ||||
Repayments of Advances | (200,000) | (600,000) | ||||
Related Party Transaction, Revenues from Transactions with Related Party | 800,000 | 800,000 | 600,000 | |||
Equity Method Investment, Other than Temporary Impairment | 500,000 | |||||
Proceeds from Equity Method Investment, Dividends or Distributions, Return of Capital | 800,000 | 900,000 | 1,000,000 | |||
Partners' Capital Account, Return of Capital | 200,000 | |||||
Allocable share of uncalled capital | 1,800,000 | |||||
Guarantee of outstanding charter receivables | 400,000 | |||||
SCFCo Holdings [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Partners' Capital Account, Contributions | 800,000 | 18,000,000 | 19,700,000 | |||
Proceeds from Issuance of Secured Debt | 13,000,000 | |||||
Repayments of Advances | (14,000,000) | (1,000,000) | ||||
Related Party Transaction, Revenues from Transactions with Related Party | 100,000 | 200,000 | ||||
Equity Method Investment, Other than Temporary Impairment | 7,700,000 | 21,500,000 | ||||
Equity Method Investment, Difference Between Carrying Amount and Underlying Equity | 28,500,000 | |||||
Payments for Advance to Affiliate | 1,800,000 | 23,500,000 | ||||
Asset Impairment Charges | 21,500,000 | |||||
Advanced to joint ventures | 30,300,000 | |||||
Bunge-SCF Grain [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Partners' Capital Account, Contributions | 2,000,000 | |||||
Repayments of Advances | (2,000,000) | |||||
Related Party Transaction, Revenues from Transactions with Related Party | 1,000,000 | 1,000,000 | 1,000,000 | |||
Related party transaction expense | 7,200,000 | 10,800,000 | 7,800,000 | |||
Payments for Advance to Affiliate | 2,000,000 | |||||
Advanced to joint ventures | $ 7,000,000 | |||||
SCF Bunge Marine [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Number of Equipment Operated | equipment | 6 | |||||
Related Party Transaction, Revenues from Transactions with Related Party | $ 35,000,000 | 41,700,000 | 41,600,000 | |||
Related party transaction expense | 40,200,000 | 47,900,000 | 46,600,000 | |||
Proceeds from Equity Method Investment, Dividends or Distributions, Return of Capital | 2,500,000 | $ 4,000,000 | 4,500,000 | |||
Other Inland River Joint Ventures [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Partners' Capital Account, Return of Capital | $ 2,100,000 | |||||
Dorian LPG [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Equity Method Investment, Ownership Percentage | 15.90% | 16.10% | ||||
Business Combination, Separately Recognized Transactions, Net Gains and Losses | $ 32,300,000 | $ 4,400,000 | ||||
Sale of Stock, Number of Shares Issued in Transaction | shares | 150,000 | |||||
Proceeds from Sale and Maturity of Marketable Securities | $ 2,300,000 | |||||
Trailer Bridge Inc [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Repayments of Advances | (18,700,000) | (2,100,000) | ||||
Related Party Transaction, Revenues from Transactions with Related Party | $ 300,000 | 800,000 | ||||
Equity Method Investment, Ownership Percentage | 55.30% | |||||
Payments for Advance to Affiliate | $ 1,700,000 | |||||
Advanced to joint ventures | 3,900,000 | |||||
Business Combination, Separately Recognized Transactions, Net Gains and Losses | (2,200,000) | |||||
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 | 500,000 | 1,000,000 | 100,000 | |||
Proceeds from Equity Method Investment, Dividends or Distributions, Return of Capital | 2,000,000 | 4,400,000 | ||||
Partners' Capital Account, Return of Capital | 8,400,000 | 8,300,000 | ||||
SeaJon [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Partners' Capital Account, Contributions | 2,300,000 | |||||
Guarantor Obligations, Maximum Exposure, Undiscounted | 5,000,000 | |||||
Proceeds from Equity Method Investment, Dividends or Distributions, Return of Capital | 600,000 | 600,000 | ||||
Partners' Capital Account, Return of Capital | 5,400,000 | |||||
SeaJon II [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Partners' Capital Account, Contributions | 1,000,000 | 600,000 | ||||
Related Party Transaction, Revenues from Transactions with Related Party | 100,000 | 100,000 | ||||
Partners' Capital Account, Return of Capital | 300,000 | |||||
Partners' Capital Account, Contributions, Noncash | 5,400,000 | |||||
Business Combination, Separately Recognized Transactions, Net Gains and Losses | 1,900,000 | |||||
Hawker Pacific Airservices Limited [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Related Party Transaction, Revenues from Transactions with Related Party | 300,000 | 300,000 | 500,000 | |||
Letters of Credit Outstanding, Amount | 6,500,000 | |||||
VA&E [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Partners' Capital Account, Contributions | 3,500,000 | |||||
Repayments of Advances | $ (1,100,000) | |||||
Equity Method Investment, Ownership Percentage | 41.30% | 81.10% | ||||
Payments for Advance to Affiliate | 1,000,000 | |||||
Advanced to joint ventures | $ 3,600,000 | |||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 6,000,000 | |||||
Proceeds from Unsecured Lines of Credit | 10,000,000 | 15,000,000 | ||||
Repayments of Long-term Lines of Credit | 12,400,000 | 11,500,000 | ||||
Avion Pacific Limited [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Repayments of Advances | (3,000,000) | (4,000,000) | ||||
Payments for Advance to Affiliate | 3,000,000 | 3,000,000 | ||||
Advanced to joint ventures | 3,000,000 | |||||
Cleancor [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Partners' Capital Account, Contributions | 4,800,000 | |||||
Payments for Advance to Affiliate | 2,000,000 | |||||
Advanced to joint ventures | 1,900,000 | |||||
Witt O'Brien's LLC [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Related Party Transaction, Revenues from Transactions with Related Party | 100,000 | |||||
Proceeds from Equity Method Investment, Dividends or Distributions, Return of Capital | 400,000 | |||||
Partners' Capital Account, Return of Capital | 400,000 | |||||
Other Corporate Joint Ventures [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Partners' Capital Account, Contributions | $ 200,000 | 1,700,000 | ||||
Partners' Capital Account, Return of Capital | $ 100,000 | |||||
Payments for Advance to Affiliate | $ 800,000 | |||||
Offshore Support Vessels [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Number Of Equipments Acquired | equipment | 17 | 6 | 7 | |||
Asset Impairment Charges | $ 120,800,000 | $ 6,600,000 | ||||
Offshore Support Vessels [Member] | MexMar [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Number of Equipment Operated | equipment | 15 | |||||
Offshore Support Vessels [Member] | Sea-Cat Crewzer II [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Number of Equipment Operated | equipment | 2 | |||||
Offshore Support Vessels [Member] | OSV Partners [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Number of Equipment Operated | equipment | 5 | |||||
Number Of Equipments Acquired | equipment | 2 | |||||
Payments to Acquire Machinery and Equipment | $ 27,700,000 | |||||
Offshore Support Vessels [Member] | Nautical Power [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Number of Equipment Operated | equipment | 1 | |||||
Offshore Support Vessels [Member] | Sea Cat Crewzer [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Number of Equipment Operated | equipment | 2 | |||||
Liftboats [Member] | Falcon Global [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Number of Equipment Operated | equipment | 2 | |||||
Guarantor Obligations, Maximum Exposure, Undiscounted | $ 3,800,000 | |||||
Inland River Towboats [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Number Of Equipments Acquired | equipment | 2 | 9 | 1 | |||
Inland River Towboats [Member] | SCFCo Holdings [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Number Of Equipments Acquired | equipment | 1 | |||||
Inland River Dry Cargo Barges [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Number Of Equipments Acquired | equipment | 46 | 0 | 65 | |||
Inland River Dry Cargo Barges [Member] | SCFCo Holdings [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Number Of Equipments Acquired | equipment | 20 | |||||
U.S.-flag Harbor Tugs [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Number Of Equipments Acquired | equipment | 1 | 0 | 0 | |||
U.S.-flag Harbor Tugs [Member] | Trailer Bridge Inc [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Related Party Transaction, Revenues from Transactions with Related Party | $ 3,000,000 | $ 400,000 | $ 2,000,000 | |||
Offshore Support Vessels [Member] | OSV Partners [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Asset Impairment Charges | 1,000,000 | |||||
Offshore Support Vessels [Member] | Other Offshore Marine Services Joint Ventures [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Asset Impairment Charges | $ 2,700,000 | $ 2,000,000 | ||||
SeaJon II [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Number Of Equipments Acquired | equipment | 1 | |||||
Business Acquisition, Percentage of Voting Interests Acquired | 50.00% | |||||
Payments to Acquire Businesses, Gross | $ 3,400,000 | |||||
Subordinated Debt [Member] | VA&E [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Advanced to joint ventures | $ 3,500,000 | 1,000,000 | ||||
Long-term Debt [Member] | VA&E [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Advanced to joint ventures | $ 1,100,000 |
Construction Reserve Funds (Det
Construction Reserve Funds (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Other Restricted Assets [Abstract] | |||
Withdrawals | $ 130,446 | $ 47,472 | $ 131,167 |
Deposits | 29,000 | 34,459 | 147,450 |
Construction Reserve Fund Activity Net | $ (101,446) | $ (13,013) | $ 16,283 |
Third Party Notes Receivable (D
Third Party Notes Receivable (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Notes, Loans and Financing Receivable, Net, Noncurrent [Abstract] | |||
Loans and Leases Receivable, Gross | $ 12.6 | $ 24.9 | |
Notes receivable third party | (9.4) | (9.6) | $ (19) |
Proceeds from Collection of Notes Receivable | 6.8 | $ 10.8 | 10 |
Proceeds from Collection of Lease Receivables | $ 0.6 | ||
Provision for Loan and Lease Losses | $ 8.5 |
Long-Term Debt (Schedule Of Com
Long-Term Debt (Schedule Of Company's Borrowings) (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Debt Instrument [Line Items] | ||
Long-term Debt, Gross | $ 1,084,814 | $ 1,149,753 |
Portion due within one year, net of related debt discount and issuance costs | 183,602 | 35,531 |
Debt discount included in long-term debt | (39,537) | (62,914) |
Debt issuance costs included in long-term debt | (12,904) | (16,449) |
Long-term Debt, Excluding Current Maturities | 848,771 | 1,034,859 |
Three Point Zero Percentage Convertible Notes [Member] | ||
Debt Instrument [Line Items] | ||
Convertible Debt | 230,000 | 230,000 |
Debt discount included in long-term debt | (29,800) | (36,200) |
Debt issuance costs included in long-term debt | (3,000) | (3,700) |
Two Point Five Percentage Convertible Notes [Member] | ||
Debt Instrument [Line Items] | ||
Convertible Debt | 157,128 | 284,500 |
Debt discount included in long-term debt | (4,800) | (17,300) |
Debt issuance costs included in long-term debt | (800) | (2,800) |
7.375% Senior Notes [Member] | ||
Debt Instrument [Line Items] | ||
Senior Notes, Noncurrent | 160,699 | 195,941 |
Debt discount included in long-term debt | (400) | (600) |
Debt issuance costs included in long-term debt | (500) | (900) |
Three Point Seven Five Percentage Convertible Notes [Member] | ||
Debt Instrument [Line Items] | ||
Debt discount included in long-term debt | (4,100) | (8,200) |
Debt issuance costs included in long-term debt | (3,100) | (6,200) |
SEA-Vista Credit Facility [Member] | ||
Debt Instrument [Line Items] | ||
Debt issuance costs included in long-term debt | (2,000) | (2,700) |
Other Debt Obligations [Member] | ||
Debt Instrument [Line Items] | ||
Other Long-term Debt | 82,742 | 54,287 |
Debt discount included in long-term debt | (500) | (600) |
Debt issuance costs included in long-term debt | (3,500) | (200) |
SEACOR Marine Holdings Inc. [Member] | Three Point Seven Five Percentage Convertible Notes [Member] | ||
Debt Instrument [Line Items] | ||
Convertible Debt | 175,000 | 175,000 |
Sea-Vista [Member] | SEA-Vista Credit Facility [Member] | ||
Debt Instrument [Line Items] | ||
Line of Credit Facility, Current Borrowing Capacity | $ 279,245 | $ 210,025 |
Long-Term Debt (Schedule Of Lon
Long-Term Debt (Schedule Of Long-Term Debt Maturities) (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 11, 2012 |
Debt Instrument [Line Items] | |||
2,017 | $ 189,164 | ||
2,018 | 21,766 | ||
2,019 | 183,212 | ||
2,020 | 238,846 | ||
2,021 | 25,800 | ||
Years subsequent to 2021 | 426,026 | ||
Long-term Debt, Gross | $ 1,084,814 | $ 1,149,753 | |
Two Point Five Percentage Convertible Notes [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 2.50% | 2.50% |
Long-Term Debt (Narrative) (Sen
Long-Term Debt (Narrative) (Senior Notes And Convertible Debentures) (Details) - USD ($) | 3 Months Ended | 12 Months Ended | ||||||||||||
Mar. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Nov. 15, 2016 | Dec. 01, 2015 | Jun. 01, 2015 | Apr. 15, 2015 | Apr. 09, 2015 | Nov. 13, 2013 | Dec. 11, 2012 | Sep. 24, 2009 | |
Debt Instrument [Line Items] | ||||||||||||||
Common Stock, Par or Stated Value Per Share | $ 0.01 | $ 0.01 | ||||||||||||
Stock Repurchase Program, Authorized Amount | $ 150,000,000 | |||||||||||||
Convertible Securities | 0 | 0 | 6,025,851 | |||||||||||
Debt extinguishment gains (losses), net | $ 5,184,000 | $ (28,497,000) | $ 0 | |||||||||||
Letters of credit outstanding amount | 26,200,000 | |||||||||||||
Guarantor Obligations, Maximum Exposure, Undiscounted | 1,900,000 | |||||||||||||
Stock Repurchase Program, Remaining Authorized Repurchase Amount | $ 147,000,000 | |||||||||||||
Sea-Vista [Member] | ||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||
Payments of Debt Issuance Costs | 3,100,000 | |||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 300,000,000 | |||||||||||||
Sea-Vista [Member] | Minimum [Member] | ||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||
Debt Instrument, Mandatory Prepayment Balance | 75,000,000 | |||||||||||||
Debt Instrument, Prepayment Increments | $ 1,000,000 | |||||||||||||
Sea-Vista [Member] | Minimum [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||
Debt Instrument, Basis Spread on Variable Rate | 2.00% | |||||||||||||
Sea-Vista [Member] | Minimum [Member] | Base Rate [Member] | ||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||
Debt Instrument, Basis Spread on Variable Rate | 1.25% | |||||||||||||
Sea-Vista [Member] | Maximum [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||
Debt Instrument, Basis Spread on Variable Rate | 2.75% | |||||||||||||
Sea-Vista [Member] | Maximum [Member] | Base Rate [Member] | ||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||
Debt Instrument, Basis Spread on Variable Rate | 1.75% | |||||||||||||
Illinois Corn Processing Llc [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||
Debt Instrument, Basis Spread on Variable Rate | 2.00% | |||||||||||||
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% | 100.00% | ||||||||||||
Convertible Debt | $ 230,000,000 | $ 230,000,000 | ||||||||||||
Debt Instrument, Interest Rate, Effective Percentage | 7.40% | |||||||||||||
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 | 12.0015 | |||||||||||||
Convertible Securities | 1,885,772 | |||||||||||||
Bond Redemption Percentage | 100.00% | 100.00% | ||||||||||||
Convertible Debt | $ 157,128,000 | $ 284,500,000 | ||||||||||||
Debt Instrument, Interest Rate, Effective Percentage | 6.50% | |||||||||||||
Debt Instrument, Repurchased Face Amount | $ 127,400,000 | 65,500,000 | ||||||||||||
Debt Instrument, Repurchase Amount | 124,700,000 | 62,600,000 | ||||||||||||
Debt extinguishment gains (losses), net | 3,300,000 | 1,100,000 | ||||||||||||
Redemption Premium | $ 55 | |||||||||||||
Two Point Five Percentage Convertible Notes [Member] | Additional Paid-In Capital [Member] | ||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||
Debt Instrument, Repurchase Amount | 7,400,000 | 3,000,000 | ||||||||||||
7.375% Senior Notes [Member] | ||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||
Debt instrument, stated percentage | 7.375% | |||||||||||||
Aggregate principal amount | $ 250,000,000 | |||||||||||||
Debt Instrument, Repurchased Face Amount | 35,200,000 | 37,600,000 | ||||||||||||
Debt Instrument, Repurchase Amount | 33,100,000 | 37,900,000 | ||||||||||||
Debt extinguishment gains (losses), net | $ 1,900,000 | 600,000 | ||||||||||||
Three Point Seven Five Percentage Convertible Notes [Member] | ||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||
Debt instrument, stated percentage | 3.75% | |||||||||||||
Aggregate principal amount | $ 175,000,000 | |||||||||||||
Debt Instrument, Convertible, Conversion Ratio | 12.82 | |||||||||||||
Convertible Securities | 2,243,500 | |||||||||||||
Payments of Debt Issuance Costs | $ 6,400,000 | |||||||||||||
Debt Instrument, Interest Rate, Effective Percentage | 8.70% | |||||||||||||
Embedded Derivative, Fair Value of Embedded Derivative Liability | 8,500,000 | |||||||||||||
Three Point Seven Five Percentage Convertible Notes [Member] | SEACOR Marine Holdings Inc. [Member] | ||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||
Individual Bond, Face Value | $ 1,000 | |||||||||||||
Debt Instrument, Convertible, Conversion Ratio | 23.26 | |||||||||||||
Convertible Securities | 4,070,500 | |||||||||||||
Bond Redemption Percentage | 100.00% | |||||||||||||
Convertible Debt | $ 175,000,000 | $ 175,000,000 | ||||||||||||
Revolving Credit Facility [Member] | Sea-Vista [Member] | ||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||
Debt Instrument, Unused Borrowing Capacity, Amount | 100,000,000 | |||||||||||||
Proceeds from Lines of Credit | 87,000,000 | 30,000,000 | ||||||||||||
Repayments of Lines of Credit | 14,000,000 | 17,000,000 | ||||||||||||
Line of Credit Facility, Current Borrowing Capacity | 14,000,000 | |||||||||||||
Revolving Credit Facility [Member] | Sea-Vista [Member] | Subsequent Event [Member] | ||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||
Proceeds from Lines of Credit | $ 14,000,000 | |||||||||||||
Revolving Credit Facility [Member] | Illinois Corn Processing Llc [Member] | ||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||
Payments of Debt Issuance Costs | 300,000 | |||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 20,000,000 | |||||||||||||
Line of Credit Facility, Current Borrowing Capacity | 16,200,000 | $ 30,000,000 | ||||||||||||
Term A-1 Loan [Member] | Sea-Vista [Member] | ||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||
Proceeds from issuance of long-term debt, net of offering costs | $ 80,000,000 | |||||||||||||
Debt Instrument, Unused Borrowing Capacity, Amount | 80,000,000 | |||||||||||||
Debt Instrument, Periodic Payment, Principal, Percent | 1.25% | |||||||||||||
Repayments of Long-term Debt | 3,800,000 | $ 3,000,000 | ||||||||||||
Term A-2 Loan [Member] | Sea-Vista [Member] | ||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||
Proceeds from issuance of long-term debt, net of offering costs | $ 120,000,000 | |||||||||||||
Debt Instrument, Unused Borrowing Capacity, Amount | $ 120,000,000 | |||||||||||||
Debt Instrument, Periodic Payment, Principal, Percent | 2.50% | |||||||||||||
Title XI Bonds [Member] | ||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||
Debt Instrument, Repurchase Amount | $ 99,900,000 | |||||||||||||
Debt extinguishment gains (losses), net | $ 29,000,000 | |||||||||||||
Repayments of Long-term Debt | 5,900,000 | |||||||||||||
Redemption Premium | 20,500,000 | |||||||||||||
Restricted Cash and Cash Equivalents | $ 9,600,000 | |||||||||||||
Other Debt Obligations [Member] | ||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||
Proceeds from issuance of long-term debt, net of offering costs | 53,800,000 | 4,900,000 | 26,900,000 | |||||||||||
Repayments of Other Debt | $ 27,500,000 | 15,900,000 | $ 29,500,000 | |||||||||||
Other Debt Obligations [Member] | Subsequent Event [Member] | ||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||
Proceeds from issuance of long-term debt, net of offering costs | $ 3,400,000 | |||||||||||||
Other Debt Obligations [Member] | Minimum [Member] | ||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||
Debt instrument, stated percentage | 2.70% | |||||||||||||
Other Debt Obligations [Member] | Maximum [Member] | ||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||
Debt instrument, stated percentage | 4.60% | |||||||||||||
Long-term Debt [Member] | Two Point Five Percentage Convertible Notes [Member] | ||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||
Debt Instrument, Repurchase Amount | $ 117,300,000 | $ 59,600,000 | ||||||||||||
Hawker Pacific Airservices Limited [Member] | ||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||
Letters of credit outstanding amount | $ 6,500,000 |
Income Taxes (Narrative) (Detai
Income Taxes (Narrative) (Details) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Tax Credit Carryforward [Line Items] | ||||
Cumulative undistributed net earnings of foreign subsidiaries included in retained earnings | $ 7.9 | |||
Adjustment to additional paid in capital, income tax effect from share-based compensation, net | 2.3 | $ 0.1 | $ (1.1) | |
Liability for Uncertain Tax Positions, Noncurrent | 11.7 | $ 10.1 | ||
State and Local Jurisdiction [Member] | ||||
Tax Credit Carryforward [Line Items] | ||||
State net operating loss carryforwards, valuation allowance | $ 3.6 | $ 3.4 |
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 ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Income Tax Contingency [Line Items] | |||
Income Before Income Tax Expense (Benefit) and Equity in Earnings of 50% or Less Owned Companies | $ (262,248) | $ (30,798) | $ 163,235 |
United States [Member] | |||
Income Tax Contingency [Line Items] | |||
Income Before Income Tax Expense (Benefit) and Equity in Earnings of 50% or Less Owned Companies | (242,375) | (25,441) | 160,782 |
Foreign [Member] | |||
Income Tax Contingency [Line Items] | |||
Income Before Income Tax Expense (Benefit) and Equity in Earnings of 50% or Less Owned Companies | (29,200) | (2,896) | (5,409) |
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 | $ 9,327 | $ (2,461) | $ 7,862 |
Income Taxes (Components Of Inc
Income Taxes (Components Of Income Tax Expense (Benefit)) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Components of Income Tax Expense (Benefit), Continuing Operations [Abstract] | |||
State | $ 5,339 | $ 3,155 | $ 5,526 |
Federal | (9,260) | 17,442 | 56,675 |
Foreign | 5,815 | 5,971 | 10,060 |
Current Income Tax Expense, Total | 1,894 | 26,568 | 72,261 |
State | (2,568) | (1,875) | 196 |
Federal | (93,246) | (35,539) | (17,222) |
Foreign | 90 | (516) | (38) |
Deferred Income Tax Benefit, Total | (95,724) | (37,930) | (17,064) |
Income Tax Expense (Benefit) | $ (93,830) | $ (11,362) | $ 55,197 |
Income Taxes (Schedule Of Effec
Income Taxes (Schedule Of Effective Income Tax Rate) (Details) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Effective Income Tax Rate Reconciliation, Percent [Abstract] | |||
Statutory rate | (35.00%) | (35.00%) | 35.00% |
Non-deductible expenses | 0.10% | 1.70% | 0.50% |
Noncontrolling interests | (2.60%) | (8.10%) | (5.30%) |
Losses of foreign subsidiaries not benefited | 1.30% | 6.20% | 1.20% |
State taxes | 0.30% | 0.60% | 2.30% |
Other | 0.10% | (2.30%) | 0.10% |
Effective Income Tax Rate | (35.80%) | (36.90%) | 33.80% |
Income Taxes (Components Of The
Income Taxes (Components Of The Net Deferred Income Tax Liabilities) (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Components of Deferred Tax Assets and Liabilities [Abstract] | ||
Property and Equipment | $ 257,337 | $ 302,529 |
Long-term Debt | 46,380 | 56,110 |
Unremitted earnings of foreign subsidiaries | 24,263 | 34,977 |
Investments in 50% or Less Owned Companies | 16,549 | 14,461 |
Intangible assets | 1,908 | 6,150 |
Deductible Goodwill | 0 | 4,124 |
Other | 194 | 990 |
Total deferred tax liabilities | 346,631 | 419,341 |
Share award plans | 11,078 | 11,827 |
Losses on marketable securities | 20,746 | 8,863 |
Deductible goodwill | 1,611 | 0 |
Debt and equity issuance costs | 7,638 | 3,029 |
Other | 20,557 | 8,991 |
Total deferred tax assets | 61,630 | 32,710 |
Valuation allowance | 3,600 | 3,357 |
Net deferred tax assets | 58,030 | 29,353 |
Net deferred tax liabilities | $ 288,601 | $ 389,988 |
Derivative Instruments And He68
Derivative Instruments And Hedging Strategies (Narrative) (Details) $ in Thousands, € in Millions | 12 Months Ended | |||||
Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) | Mar. 31, 2017USD ($) | Dec. 31, 2016EUR (€) | Dec. 01, 2015USD ($) | |
Derivative [Line Items] | ||||||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | $ (10,225) | $ (2,096) | $ (3,902) | |||
Derivative losses on cash flow hedges | (2,537) | (1,304) | (140) | |||
Fair Value Hedging [Member] | ||||||
Derivative [Line Items] | ||||||
Derivative, Notional Amount | 3,900 | |||||
Cash Flow Hedging [Member] | ||||||
Derivative [Line Items] | ||||||
Derivative, Notional Amount | $ 15,800 | € 15 | ||||
Number of Interest Rate Derivatives Held | 2 | 2 | ||||
Fixed interest rate | 0.03% | 0.03% | ||||
Interest Rate Swap [Member] | ||||||
Derivative [Line Items] | ||||||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | $ (18) | (18) | (176) | |||
MexMar [Member] | Cash Flow Hedging [Member] | ||||||
Derivative [Line Items] | ||||||
Derivative, Notional Amount | $ 105,500 | |||||
Number of Interest Rate Derivatives Held | 4 | 4 | ||||
Fixed interest rate range, start | 1.71% | 1.71% | ||||
Fixed interest rate range, end | 2.05% | 2.05% | ||||
Sea-Cat Crewzer II [Member] | Cash Flow Hedging [Member] | ||||||
Derivative [Line Items] | ||||||
Derivative, Notional Amount | $ 23,300 | |||||
Fixed interest rate | 1.52% | 1.52% | ||||
Sea Cat Crewzer [Member] | Cash Flow Hedging [Member] | ||||||
Derivative [Line Items] | ||||||
Derivative, Notional Amount | $ 20,600 | |||||
Fixed interest rate | 1.52% | 1.52% | ||||
SeaJon [Member] | Cash Flow Hedging [Member] | ||||||
Derivative [Line Items] | ||||||
Derivative, Notional Amount | $ 30,300 | |||||
Fixed interest rate | 2.79% | 2.79% | ||||
Not Designated as Hedging Instrument [Member] | Foreign Exchange [Member] | ||||||
Derivative [Line Items] | ||||||
Derivative, Notional Amount | $ 3,800 | |||||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | 200 | |||||
Not Designated as Hedging Instrument [Member] | OSV Partners [Member] | Interest Rate Swap [Member] | ||||||
Derivative [Line Items] | ||||||
Derivative, Notional Amount | $ 38,000 | |||||
Number of Interest Rate Derivatives Held | 0 | |||||
Fixed interest rate range, start | 1.89% | 1.89% | ||||
Fixed interest rate range, end | 2.27% | 2.27% | ||||
Not Designated as Hedging Instrument [Member] | Dynamic Offshore Drilling Ltd. [Member] | Interest Rate Swap [Member] | ||||||
Derivative [Line Items] | ||||||
Derivative, Notional Amount | $ 74,000 | |||||
Fixed interest rate | 1.30% | 1.30% | ||||
Not Designated as Hedging Instrument [Member] | Falcon Global [Member] | Interest Rate Swap [Member] | ||||||
Derivative [Line Items] | ||||||
Derivative, Notional Amount | $ 62,500 | |||||
Fixed interest rate | 2.06% | 2.06% | ||||
Three Point Seven Five Percentage Convertible Notes [Member] | ||||||
Derivative [Line Items] | ||||||
Embedded Derivative, Fair Value of Embedded Derivative Liability | $ 8,500 | |||||
Embedded Derivative, Gain on Embedded Derivative | 2,900 | $ 0 | ||||
Debt Instrument, Interest Rate, Stated Percentage | 3.75% | |||||
Three Point Seven Five Percentage Convertible Notes [Member] | Not Designated as Hedging Instrument [Member] | ||||||
Derivative [Line Items] | ||||||
Embedded Derivative, Fair Value of Embedded Derivative Liability | $ 19,436 | $ 5,611 | ||||
Subsequent Event [Member] | MexMar [Member] | Cash Flow Hedging [Member] | ||||||
Derivative [Line Items] | ||||||
Derivative, Notional Amount | $ 18,200 | |||||
Fixed interest rate | 2.10% | |||||
Construction in Progress [Member] | ||||||
Derivative [Line Items] | ||||||
Deferred Gain (Loss) on Discontinuation of Foreign Currency Fair Value Hedge | $ (800) | |||||
Minimum [Member] | Not Designated as Hedging Instrument [Member] | Foreign Exchange [Member] | ||||||
Derivative [Line Items] | ||||||
Derivative, Term of Contract | 12 months | |||||
Maximum [Member] | Not Designated as Hedging Instrument [Member] | Foreign Exchange [Member] | ||||||
Derivative [Line Items] | ||||||
Derivative, Term of Contract | 18 months |
Derivative Instruments And He69
Derivative Instruments And Hedging Strategies (Fair Values Of Derivative Instruments) (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 01, 2015 |
Derivatives, Fair Value [Line Items] | |||
Derivative Asset | $ 1,237 | $ 469 | |
Derivative Liability | 20,617 | 10,896 | |
Designated as Hedging Instrument [Member] | |||
Derivatives, Fair Value [Line Items] | |||
Derivative Asset | 0 | 0 | |
Derivative Liability | 389 | 0 | |
Not Designated as Hedging Instrument [Member] | |||
Derivatives, Fair Value [Line Items] | |||
Derivative Asset | 1,237 | 469 | |
Derivative Liability | 20,228 | 10,896 | |
Foreign Exchange [Member] | Designated as Hedging Instrument [Member] | |||
Derivatives, Fair Value [Line Items] | |||
Derivative Asset | 0 | 0 | |
Derivative Liability | 316 | 0 | |
Foreign Exchange [Member] | Not Designated as Hedging Instrument [Member] | |||
Derivatives, Fair Value [Line Items] | |||
Derivative Asset | 195 | 0 | |
Derivative Liability | 194 | 57 | |
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member] | |||
Derivatives, Fair Value [Line Items] | |||
Derivative Asset | 0 | 0 | |
Derivative Liability | 73 | 0 | |
Interest Rate Swap [Member] | Not Designated as Hedging Instrument [Member] | |||
Derivatives, Fair Value [Line Items] | |||
Derivative Asset | 0 | 0 | |
Derivative Liability | 0 | 242 | |
Equity Option [Member] | Not Designated as Hedging Instrument [Member] | |||
Derivatives, Fair Value [Line Items] | |||
Derivative Asset | 0 | ||
Options On Equities And Equity Indices [Member] | Not Designated as Hedging Instrument [Member] | |||
Derivatives, Fair Value [Line Items] | |||
Derivative Asset | 0 | ||
Derivative Liability | 0 | 4,005 | |
Commodity Contract [Member] | Not Designated as Hedging Instrument [Member] | |||
Derivatives, Fair Value [Line Items] | |||
Derivative Asset | 1,042 | 469 | |
Derivative Liability | 598 | 981 | |
Three Point Seven Five Percentage Convertible Notes [Member] | |||
Derivatives, Fair Value [Line Items] | |||
Embedded Derivative, Fair Value of Embedded Derivative Liability | $ 8,500 | ||
Three Point Seven Five Percentage Convertible Notes [Member] | Not Designated as Hedging Instrument [Member] | |||
Derivatives, Fair Value [Line Items] | |||
Embedded Derivative, Fair Value of Embedded Derivative Asset | 0 | 0 | |
Embedded Derivative, Fair Value of Embedded Derivative Liability | $ 19,436 | $ 5,611 |
Derivative Instruments And He70
Derivative Instruments And Hedging Strategies (Recognized Gains (Losses) On Derivative Instruments Not Designated As Hedging Instruments) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Derivative [Line Items] | |||
Derivative gains (losses), net | $ (10,225) | $ (2,096) | $ (3,902) |
Equity Option [Member] | |||
Derivative [Line Items] | |||
Derivative gains (losses), net | 3,095 | (3,200) | 38 |
Foreign Exchange Forward [Member] | |||
Derivative [Line Items] | |||
Derivative gains (losses), net | (378) | (519) | (183) |
Interest Rate Swap [Member] | |||
Derivative [Line Items] | |||
Derivative gains (losses), net | (18) | (18) | (176) |
Three Point Seven Five Percentage Convertible Notes [Member] | |||
Derivative [Line Items] | |||
Embedded Derivative, Loss on Embedded Derivative | (13,826) | ||
Embedded Derivative, Gain on Embedded Derivative | 2,900 | 0 | |
Exchange Traded [Member] | Commodity Contract [Member] | |||
Derivative [Line Items] | |||
Derivative gains (losses), net | 902 | (2,744) | (4,250) |
Other Trading [Member] | Commodity Contract [Member] | |||
Derivative [Line Items] | |||
Derivative gains (losses), net | $ 0 | $ 1,485 | $ 669 |
Fair Value Measurements (Financ
Fair Value Measurements (Financial Assets And Liabilities Measured At Fair Value On Recurring Basis) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Construction Reserve Funds | $ 153,962 | $ 255,408 | |
Exchange Option Liability on Subsidiary Convertible Senior Notes | 19,436 | 5,611 | |
Fair Value, Inputs, Level 1 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Marketable securities | 116,276 | 138,200 | |
Derivative instruments (included in other receivables) | 1,042 | 469 | |
Construction Reserve Funds | 153,962 | 255,408 | |
Short sales of marketable securities | 1,274 | 4,827 | |
Derivative instruments (included in other current liabilities) | 598 | 4,986 | |
Exchange Option Liability on Subsidiary Convertible Senior Notes | 0 | ||
Embedded Derivative, Fair Value of Embedded Derivative Liability | 0 | ||
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) | 195 | 0 | |
Construction Reserve Funds | 0 | 0 | |
Short sales of marketable securities | 0 | 0 | |
Derivative instruments (included in other current liabilities) | 583 | 299 | |
Exchange Option Liability on Subsidiary Convertible Senior Notes | 0 | ||
Embedded Derivative, Fair Value of Embedded Derivative Liability | 0 | ||
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 | 0 | 0 | |
Short sales of marketable securities | 0 | 0 | |
Derivative instruments (included in other current liabilities) | 0 | 0 | |
Exchange Option Liability on Subsidiary Convertible Senior Notes | 19,436 | ||
Embedded Derivative, Fair Value of Embedded Derivative Liability | 5,611 | ||
Marketable Security Positions Held By The Company As Of December 31, 2016 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Marketable security gains (losses), net include losses | $ (34,000) | (1,400) | $ 300 |
Marketable Security Positions Held By The Company As Of December 31, 2015 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Marketable security gains (losses), net include losses | $ 1,500 | $ 300 |
Fair Value Measurements (Estima
Fair Value Measurements (Estimated Fair Value Of Other Financial Assets And Liabilities) (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Sep. 30, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | Nov. 13, 2013 | Dec. 11, 2012 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||
Cash and Cash Equivalents, at Carrying Value | $ 399,644 | $ 530,009 | $ 434,183 | $ 527,435 | |||
Investment Owned, at Cost | 4,432 | 16,045 | |||||
Notes, Loans and Financing Receivable, Gross, Noncurrent | 12,342 | 24,587 | |||||
Debt, Long-term and Short-term, Combined Amount | $ 1,032,373 | 1,070,390 | |||||
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 and Cash Equivalents, at Carrying Value | $ 403,355 | ||||||
Cash and Cash Equivalents, Fair Value Disclosure | $ 403,355 | 530,009 | |||||
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 and Cash Equivalents, Fair Value Disclosure | 0 | 0 | |||||
Long-term Debt, Fair Value | 1,062,160 | 1,043,576 | |||||
Fair Value, Inputs, Level 3 [Member] | |||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||
Cash and Cash Equivalents, Fair Value Disclosure | 0 | 0 | |||||
Long-term Debt, Fair Value | $ 0 | $ 0 |
Fair Value Measurements (Non-Fi
Fair Value Measurements (Non-Financial Assets And Liabilities Measured At Fair Value) (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Asset Impairment Charges | $ 130,800,000 | $ 7,100,000 | $ 4,400,000 |
Equity Method Investment, Other than Temporary Impairment | 14,700,000 | $ 3,300,000 | |
Provision for Loan and Lease Losses | 8,500,000 | ||
Other Offshore Marine Services Joint Ventures [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Equity Method Investment, Other than Temporary Impairment | 500,000 | ||
Falcon Global [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Equity Method Investment, Other than Temporary Impairment | 6,400,000 | ||
SCFCo Holdings [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Asset Impairment Charges | 21,500,000 | ||
Equity Method Investment, Other than Temporary Impairment | $ 7,700,000 | 21,500,000 | |
Fair Value Inputs, Earnings before Interest, Taxes, Depreciation, and Amortization Multiple | 7 | ||
SeaJon II [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Business Combination, Separately Recognized Transactions, Net Gains and Losses | $ 1,900,000 | ||
Offshore Support Vessels [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Asset Impairment Charges | 120,800,000 | 6,600,000 | |
Fair Value, Inputs, Level 1 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Goodwill, Fair Value Disclosure | 0 | ||
Cost Method Investments, Fair Value Disclosure | 0 | ||
Equity Method Investments, Fair Value Disclosure | 0 | 102,509,000 | |
Notes Receivable, Fair Value Disclosure | 0 | ||
Assets Held-for-sale, Long Lived, Fair Value Disclosure | 0 | ||
Fair Value, Inputs, Level 1 [Member] | Offshore Support Vessels Anchor Handling Towing Supply [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Property, Plant, and Equipment, Fair Value Disclosure | 0 | ||
Fair Value, Inputs, Level 1 [Member] | Liftboats [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Property, Plant, and Equipment, Fair Value Disclosure | 0 | ||
Fair Value, Inputs, Level 1 [Member] | Offshore Support Vessels Specialty [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Property, Plant, and Equipment, Fair Value Disclosure | 0 | ||
Fair Value, Inputs, Level 1 [Member] | Other Property [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Property, Plant, and Equipment, Fair Value Disclosure | 0 | ||
Fair Value, Inputs, Level 2 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Goodwill, Fair Value Disclosure | 0 | ||
Cost Method Investments, Fair Value Disclosure | 3,600,000 | ||
Equity Method Investments, Fair Value Disclosure | 3,438,000 | 6,802,000 | |
Notes Receivable, Fair Value Disclosure | 0 | ||
Assets Held-for-sale, Long Lived, Fair Value Disclosure | 200,000 | ||
Fair Value, Inputs, Level 2 [Member] | Offshore Support Vessels Anchor Handling Towing Supply [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Property, Plant, and Equipment, Fair Value Disclosure | 2,600,000 | ||
Fair Value, Inputs, Level 2 [Member] | Liftboats [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Property, Plant, and Equipment, Fair Value Disclosure | 0 | ||
Fair Value, Inputs, Level 2 [Member] | Offshore Support Vessels Specialty [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Property, Plant, and Equipment, Fair Value Disclosure | 4,000,000 | ||
Fair Value, Inputs, Level 2 [Member] | Other Property [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Property, Plant, and Equipment, Fair Value Disclosure | 3,003,000 | ||
Fair Value, Inputs, Level 3 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Goodwill, Fair Value Disclosure | 28,506,000 | ||
Cost Method Investments, Fair Value Disclosure | 0 | ||
Equity Method Investments, Fair Value Disclosure | 48,150,000 | 39,201,000 | |
Notes Receivable, Fair Value Disclosure | 11,900,000 | ||
Assets Held-for-sale, Long Lived, Fair Value Disclosure | 0 | ||
Fair Value, Inputs, Level 3 [Member] | Offshore Support Vessels Anchor Handling Towing Supply [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Property, Plant, and Equipment, Fair Value Disclosure | $ 42,500,000 | ||
Fair Value Inputs, Comparability Adjustments | 55.00% | ||
Fair Value Inputs, Discount Rate | 74.00% | ||
Fair Value, Inputs, Level 3 [Member] | Liftboats [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Property, Plant, and Equipment, Fair Value Disclosure | $ 62,830,000 | ||
Fair Value Inputs, Comparability Adjustments | 42.00% | ||
Fair Value Inputs, Discount Rate | 61.00% | ||
Fair Value, Inputs, Level 3 [Member] | Liftboats [Member] | Falcon Global [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Fair Value Inputs, Comparability Adjustments | 25.00% | ||
Fair Value, Inputs, Level 3 [Member] | Offshore Support Vessels Specialty [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Property, Plant, and Equipment, Fair Value Disclosure | $ 0 | ||
Fair Value, Inputs, Level 3 [Member] | Other Property [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Property, Plant, and Equipment, Fair Value Disclosure | $ 1,800,000 | ||
Fair Value Inputs, Comparability Adjustments | 33.00% | ||
Fair Value Inputs, Discount Rate | 56.00% | ||
Witt O'Brien's LLC [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Goodwill, Impairment Loss | $ 19,600,000 | ||
Corporate And Eliminations [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Provision for Loan and Lease Losses | 6,700,000 | ||
Offshore Marine Services [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Asset Impairment Charges | 119,700,000 | ||
Goodwill, Impairment Loss | $ 13,400,000 | ||
Provision for Loan and Lease Losses | 1,800,000 | ||
Offshore Marine Services [Member] | Offshore Support Vessels Anchor Handling Towing Supply [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Asset Impairment Charges | 62,800,000 | ||
Offshore Marine Services [Member] | Offshore Support Vessels [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Asset Impairment Charges | 3,600,000 | ||
Offshore Marine Services [Member] | Liftboats [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Asset Impairment Charges | 19,900,000 | ||
Offshore Marine Services [Member] | Offshore Support Vessels Specialty [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Asset Impairment Charges | 12,700,000 | ||
Finite-Lived Intangible Assets [Member] | Witt O'Brien's LLC [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Asset Impairment Charges | 10,000,000 | ||
Cost-method Investments [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Cost-method Investments, Other than Temporary Impairment | 11,600,000 | ||
Three Point Seven Five Percentage Convertible Notes [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Embedded Derivative, Loss on Embedded Derivative | 13,826,000 | ||
Cost Approach Valuation Technique [Member] | Fair Value, Inputs, Level 3 [Member] | Offshore Support Vessels Anchor Handling Towing Supply [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets, Fair Value Disclosure, Nonrecurring | 364,000,000 | ||
Cost Approach Valuation Technique [Member] | Fair Value, Inputs, Level 3 [Member] | Liftboats [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets, Fair Value Disclosure, Nonrecurring | $ 279,000,000 |
Fair Value Measurements Level 3
Fair Value Measurements Level 3 Inputs (Details) - Fair Value, Inputs, Level 3 [Member] - $ / shares | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Fair Value Inputs, Liabilities, Quantitative Information [Line Items] | ||
Share Price | $ 71.28 | $ 50 |
Fair Value Assumptions, Risk Free Interest Rate | 2.08% | 2.08% |
Fair Value Assumptions, Expected Volatility Rate | 30.80% | 24.80% |
Fair Value Inputs, Entity Credit Risk | 5.63% | 8.26% |
Common Stock (Details)
Common Stock (Details) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Nov. 15, 2016 | |
Equity, Class of Treasury Stock [Line Items] | ||||
Treasury stock, shares acquired | 1,162,955 | 2,531,324 | ||
Treasury Stock, Value, Acquired, Cost Method | $ 72.4 | $ 195.3 | ||
Stock Repurchase Program, Authorized Amount | $ 150 | |||
Repurchase program, remaining authorized repurchase amount | $ 147 | |||
Restricted Stock [Member] | ||||
Equity, Class of Treasury Stock [Line Items] | ||||
Treasury stock, shares acquired | 47,455 | 40,859 | ||
Treasury Stock, Value, Acquired, Cost Method | $ 2.4 | $ 3 | ||
Employee Stock Option [Member] | ||||
Equity, Class of Treasury Stock [Line Items] | ||||
Treasury stock, shares acquired | 26,792 | |||
Treasury Stock, Value, Acquired, Cost Method | $ 2 |
Noncontrolling Interests in S76
Noncontrolling Interests in Subsidiaries (Details) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016USD ($)equipment | Sep. 30, 2016USD ($) | Jun. 30, 2016USD ($) | Mar. 31, 2016USD ($) | Dec. 31, 2015USD ($) | Sep. 30, 2015USD ($) | Jun. 30, 2015USD ($) | Mar. 31, 2015USD ($) | Dec. 31, 2016USD ($)equipment | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) | |
Noncontrolling Interest [Line Items] | |||||||||||
Noncontrolling interests in subsidiaries | $ 135,376 | $ 120,119 | $ 135,376 | $ 120,119 | |||||||
Net Income (Loss) | (90,289) | $ (34,026) | $ (50,933) | $ (20,524) | (49,853) | $ 16,405 | $ (8,501) | $ (17,901) | (195,772) | (59,850) | $ 124,347 |
Net Income (Loss) Attributable to Noncontrolling Interest | 20,125 | 8,932 | 24,215 | ||||||||
Noncontrolling Interest, Increase from Subsidiary Equity Issuance | 400 | 152,423 | |||||||||
Purchase of subsidiary shares from noncontrolling interests | (497) | 3,110 | |||||||||
Dividends paid to noncontrolling interests | 3,753 | 5,199 | 6,070 | ||||||||
Windcat Workboats Ltd. [Member] | |||||||||||
Noncontrolling Interest [Line Items] | |||||||||||
Net Assets | 29,900 | 29,900 | |||||||||
Illinois Corn Processing Llc [Member] | |||||||||||
Noncontrolling Interest [Line Items] | |||||||||||
Noncontrolling interests in subsidiaries | 22,272 | 22,272 | |||||||||
Net Assets | 74,200 | 74,200 | |||||||||
Net Income (Loss) | 38,400 | ||||||||||
Net Income (Loss) Attributable to Noncontrolling Interest | 10,300 | ||||||||||
Offshore Marine Services [Member] | Windcat Workboats Ltd. [Member] | |||||||||||
Noncontrolling Interest [Line Items] | |||||||||||
Noncontrolling interests in subsidiaries | 5,266 | 7,484 | 5,266 | 7,484 | |||||||
Net Assets | $ 21,100 | 21,100 | |||||||||
Net Income (Loss) | (4,500) | 1,600 | 1,900 | ||||||||
Net Income (Loss) Attributable to Noncontrolling Interest | $ (1,100) | 400 | 500 | ||||||||
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 | $ 277 | 470 | $ 277 | 470 | |||||||
Inland River Services [Member] | |||||||||||
Noncontrolling Interest [Line Items] | |||||||||||
Purchase of subsidiary shares from noncontrolling interests | 1,000 | ||||||||||
Payments for Repurchase of Redeemable Noncontrolling Interest | 3,100 | ||||||||||
Dividends paid to noncontrolling interests | 2,100 | ||||||||||
Inland River Services [Member] | Other Inland River Services Noncontrolling Interests [Member] | |||||||||||
Noncontrolling Interest [Line Items] | |||||||||||
Noncontrolling interests in subsidiaries | 980 | 1,146 | 980 | 1,146 | |||||||
Shipping Services [Member] | Sea-Vista [Member] | |||||||||||
Noncontrolling Interest [Line Items] | |||||||||||
Noncontrolling interests in subsidiaries | 106,054 | 88,290 | 106,054 | 88,290 | |||||||
Net Assets | $ 216,400 | 180,200 | 216,400 | 180,200 | |||||||
Net Income (Loss) | 36,300 | 5,200 | 25,100 | ||||||||
Net Income (Loss) Attributable to Noncontrolling Interest | $ 17,800 | 2,600 | $ 12,300 | ||||||||
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners | 49.00% | 49.00% | 49.00% | ||||||||
Noncontrolling Interest, Increase from Subsidiary Equity Issuance | $ 145,700 | ||||||||||
Payments of Stock Issuance Costs | $ 3,200 | ||||||||||
Illinois Corn Processing Llc [Member] | Illinois Corn Processing Llc [Member] | |||||||||||
Noncontrolling Interest [Line Items] | |||||||||||
Noncontrolling interests in subsidiaries | $ 22,647 | $ 22,647 | |||||||||
Net Assets | $ 75,500 | ||||||||||
Net Income (Loss) | 12,300 | 19,500 | |||||||||
Net Income (Loss) Attributable to Noncontrolling Interest | $ 3,700 | 5,900 | |||||||||
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 | $ 152 | $ 457 | $ 152 | $ 457 | |||||||
U.S.-flag Product Tankers [Member] | |||||||||||
Noncontrolling Interest [Line Items] | |||||||||||
Unrecorded Unconditional Purchase Obligation, Maximum Quantity | equipment | 1 | 1 | |||||||||
U.S.-flag Product Tankers [Member] | Shipping Services [Member] | Sea-Vista [Member] | |||||||||||
Noncontrolling Interest [Line Items] | |||||||||||
Unrecorded Unconditional Purchase Obligation, Maximum Quantity | equipment | 1 | 1 | |||||||||
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 | 30.00% | 30.00% | |||||||||
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 | 14.60% | 14.60% |
Savings Plans And Multiemploy77
Savings Plans And Multiemployer Pension Plans (Details) ÂŁ in Millions, $ in Millions | 12 Months Ended | ||||||||
Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | Dec. 31, 2015GBP (ÂŁ) | Dec. 31, 2014USD ($) | Dec. 31, 2013USD ($) | Dec. 31, 2012USD ($) | Sep. 30, 2014USD ($) | Mar. 31, 2014USD ($) | Mar. 31, 2014GBP (ÂŁ) | |
United Kingdom Merchant Navy Officers Pension Fund [Member] | Foreign Pension Plan | |||||||||
Defined Benefit Plan Disclosure [Line Items] | |||||||||
Pension and other postretirement benefit expense | $ 19.4 | ||||||||
United Kingdom Merchant Navy Ratings Pension Fund [Member] | Foreign Pension Plan | |||||||||
Defined Benefit Plan Disclosure [Line Items] | |||||||||
Pension and other postretirement benefit expense | $ 6.9 | ÂŁ 4.5 | $ 0.4 | ||||||
Pension and other postretirement benefit plans, total funding deficit | $ 491.7 | ÂŁ 325 | |||||||
American Maritime Officers Pension Plan [Member] | Pension Plan [Member] | |||||||||
Defined Benefit Plan Disclosure [Line Items] | |||||||||
Multiemployer Plans, Withdrawal Obligation | $ 39.9 | ||||||||
Pension and Other Postretirement Benefit Contributions | $ 1.4 | 1.1 | $ 1.1 | ||||||
Seafarers Pension Plan [Member] | Pension Plan [Member] | |||||||||
Defined Benefit Plan Disclosure [Line Items] | |||||||||
Pension and Other Postretirement Benefit Contributions | $ 1.9 | 1.6 | 1.5 | ||||||
SEACOR Deferred Compensation Plan [Member] | |||||||||
Defined Benefit Plan Disclosure [Line Items] | |||||||||
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent | 75.00% | ||||||||
Deferred compensation obligation | $ 0.4 | 0.3 | |||||||
SEACOR Deferred Compensation Plan [Member] | Deferred Bonus [Member] | |||||||||
Defined Benefit Plan Disclosure [Line Items] | |||||||||
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent | 100.00% | ||||||||
SEACOR Deferred Compensation Plan [Member] | Restricted Stock [Member] | |||||||||
Defined Benefit Plan Disclosure [Line Items] | |||||||||
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent | 100.00% | ||||||||
SEACOR Savings Plan [Member] | |||||||||
Defined Benefit Plan Disclosure [Line Items] | |||||||||
Employer Matching Contribution Percent of Employees' Gross Pay | 3.50% | ||||||||
Defined Contribution Plan Contributions | $ 1.8 | 3.8 | 2.4 | ||||||
Other Defined Contribution Plan [Member] | |||||||||
Defined Benefit Plan Disclosure [Line Items] | |||||||||
Defined Contribution Plan Contributions | $ 0.7 | $ 0.7 | $ 0.7 |
Share Based Compensation (Narra
Share Based Compensation (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
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 | $ 14.1 | $ 14.9 | $ 15.3 |
Unrecognized compensation costs | 26.7 | ||
Compensation costs expected to be recognized in 2017 | 11 | ||
Compensation costs expected to be recognized in 2018 | $ 8.3 | ||
Weighted average values of grants | $ 31.31 | $ 41.09 | $ 53.03 |
Weighted average expected volatility | 26.50% | 25.16% | 29.40% |
Weighted average discount rates | 1.59% | 1.79% | 1.85% |
Expected lives | 6 years 3 months | 6 years 11 days | 5 years 11 months 1 day |
Total grant date fair value of restricted stock and restricted stock units vested | $ 10.8 | $ 10.8 | $ 3.7 |
Aggregate intrinsic value of exercised stock options | $ 1.4 | $ 1 | $ 5.1 |
Weighted average remaining contractual term for total outstanding stock options | 5 years 51 days | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term | 3 years 292 days | ||
Aggregate intrinsic value of options outstanding | $ 17.2 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value | $ 13.5 | ||
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 | 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 | 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 | 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 | 5 years |
Share Based Compensation (Share
Share Based Compensation (Share Based Compensation Plans) (Details) - shares | 12 Months Ended | |||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Restricted stock awards granted | 137,258 | 135,150 | 150,145 | |
Restricted stock awards forfeited | (2,867) | 0 | (1,325) | |
Restricted Stock Unit, Converted to shares and issued to Deferred Compensation Plan | 0 | 217 | 216 | |
Stock Option, Outstanding as of December 31, | 1,639,865 | 1,690,899 | 1,546,508 | 1,481,280 |
Total Options, Granted, Number of Shares | 197,550 | 192,350 | 199,100 | |
Stock Options, Exercised, Number of Shares | 113,820 | 40,461 | 133,872 | |
Stock Options, Forfeited, Number of Shares | 18,760 | 0 | 0 | |
Stock Options, Expired, Number of Shares | 116,004 | 7,498 | 0 | |
Stock Issued During Period, Shares, Employee Stock Purchase Plans | 41,924 | 39,384 | 30,622 | |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 522,341 | 764,567 | 1,127,328 | |
Director [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Director stock awards granted | 3,125 | 3,375 | 2,625 |
Share Based Compensation (Sched
Share Based Compensation (Schedule Of Share-based Compensation, Restricted Stock And Restricted Stock Units Activity) (Details) - Restricted Stock [Member] - $ / shares | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Nonvested as of December 31 | 380,812 | 387,878 |
Granted | 137,258 | |
Vested | (141,457) | |
Forfeited | 2,867 | |
Weighted Average Grant Price Nonvested | $ 67.92 | $ 76.93 |
Granted Weighted Average Grant Price | 51.1 | |
Vested Weighted Average Grant Price | 76.37 | |
Forfeited Weighted Average Grant Price | $ 64.49 |
Share Based Compensation (Sch81
Share Based Compensation (Schedule Of Share-based Compensation, Stock Options, Activity) (Details) - $ / shares | 12 Months Ended | |||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Stock Option, Outstanding as of December 31, | 1,639,865 | 1,690,899 | 1,546,508 | 1,481,280 |
Stock Options, Granted, Number of Shares | 197,550 | |||
Stock Options, Vested, Number of Shares | 0 | |||
Stock Options, Exercised, Number of Shares | 113,820 | 40,461 | 133,872 | |
Stock Options, Forfeited, Number of Shares | 18,760 | 0 | 0 | |
Stock Options, Expired, Number of Shares | 116,004 | 7,498 | 0 | |
Stock Options Weighted Average Exercise Price Outstanding | $ 63.09 | $ 62.70 | ||
Stock Options, Granted, Weighted Average Exercise Price | 57.52 | |||
Stock Options, Vested, Weighted Average Exercise Price | 0 | |||
Stock Options, Exercised, Weighted Average Exercise Price | 48.58 | |||
Stock Options, Forfeited, Weighted Average Exercise Price | 71.90 | |||
Stock Options. Expired, Weighted Average Exercise Price | $ 60.85 | |||
Nonvested Stock Options [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Stock Option, Outstanding as of December 31, | 530,472 | 571,224 | ||
Stock Options, Granted, Number of Shares | 197,550 | |||
Stock Options, Vested, Number of Shares | 219,542 | |||
Stock Options, Exercised, Number of Shares | 0 | |||
Stock Options, Forfeited, Number of Shares | 18,760 | |||
Stock Options, Expired, Number of Shares | 0 | |||
Stock Options Weighted Average Exercise Price Outstanding | $ 20.63 | $ 22.83 | ||
Stock Options, Granted, Weighted Average Exercise Price | 17.09 | |||
Stock Options, Vested, Weighted Average Exercise Price | 22.98 | |||
Stock Options, Exercised, Weighted Average Exercise Price | 0 | |||
Stock Options, Forfeited, Weighted Average Exercise Price | 22.72 | |||
Stock Options. Expired, 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, | 1,109,393 | 1,119,675 | ||
Stock Options, Granted, Number of Shares | 0 | |||
Stock Options, Vested, Number of Shares | 219,542 | |||
Stock Options, Exercised, Number of Shares | 113,820 | |||
Stock Options, Forfeited, Number of Shares | 0 | |||
Stock Options, Expired, Number of Shares | 116,004 | |||
Stock Options Weighted Average Exercise Price Outstanding | $ 61.03 | $ 57.64 | ||
Stock Options, Granted, Weighted Average Exercise Price | 0 | |||
Stock Options, Vested, Weighted Average Exercise Price | 71.76 | |||
Stock Options, Exercised, Weighted Average Exercise Price | 48.58 | |||
Stock Options, Forfeited, Weighted Average Exercise Price | 0 | |||
Stock Options. Expired, Weighted Average Exercise Price | $ 60.85 |
Related Party Transactions (Det
Related Party Transactions (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
OSV Partners [Member] | |||
Related Party Transaction [Line Items] | |||
Related Party Transaction, Revenues from Transactions with Related Party | $ 0.5 | $ 1.2 | $ 1.2 |
Partners' Capital Account, Contributions | $ 1.2 | 1.4 | 5.1 |
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 | 0.8 | 1.3 | 1.7 |
Management fees | 0.1 | 0.1 | 0.2 |
Payables to related parties | 0.5 | 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 | 27.7 | 38.9 | $ 36.3 |
Due from Related Parties, Current | $ 3.4 | $ 2.4 |
Commitments And Contingencies (
Commitments And Contingencies (Narrative) (Details) | 12 Months Ended | |||||||
Dec. 31, 2016USD ($)equipment | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) | Dec. 31, 2013claim | Dec. 31, 2012claim | Dec. 31, 2010claim | Sep. 30, 2016equipment | Mar. 31, 2016USD ($)equipment | |
Commitments and Contingencies [Line Items] | ||||||||
Unrecorded unconditional purchase obligation | $ 182,435,000 | $ 800,000 | ||||||
Unrecorded Unconditional Purchase Obligation, Due in Remainder of Fiscal Year | 116,482,000 | |||||||
Unrecorded Unconditional Purchase Obligation, Due within Two Years | 50,930,000 | |||||||
Unrecorded Unconditional Purchase Obligation, Due within Three Years | 13,223,000 | |||||||
Gain (Loss) Related to Litigation Settlement | $ 14,700,000 | |||||||
Total rental expense for operating leases | 54,600,000 | $ 59,900,000 | $ 66,800,000 | |||||
Unrecorded Unconditional Purchase Obligation, Due in Rolling Year Four | $ 1,800,000 | |||||||
Offshore Support Vessels Fast Support [Member] | ||||||||
Commitments and Contingencies [Line Items] | ||||||||
Unrecorded Unconditional Purchase Obligation, Maximum Quantity | equipment | 9 | |||||||
Offshore Support Vessels Supply [Member] | ||||||||
Commitments and Contingencies [Line Items] | ||||||||
Unrecorded Unconditional Purchase Obligation, Maximum Quantity | 0 | |||||||
Wind Farm Utility Vessel [Member] | ||||||||
Commitments and Contingencies [Line Items] | ||||||||
Unrecorded Unconditional Purchase Obligation, Maximum Quantity | equipment | 1 | |||||||
U.S.-flag Product Tankers [Member] | ||||||||
Commitments and Contingencies [Line Items] | ||||||||
Unrecorded Unconditional Purchase Obligation, Maximum Quantity | equipment | 1 | |||||||
Number of equipment leases | equipment | 3 | |||||||
Sale Leaseback Transaction, Lease Terms | 76 | |||||||
U.S. Flag Articulated Tug-Barge [Member] | ||||||||
Commitments and Contingencies [Line Items] | ||||||||
Unrecorded Unconditional Purchase Obligation, Maximum Quantity | equipment | 1 | |||||||
U.S.-flag Harbor Tugs [Member] | ||||||||
Commitments and Contingencies [Line Items] | ||||||||
Unrecorded Unconditional Purchase Obligation, Maximum Quantity | equipment | 3 | |||||||
Number of equipment leases | equipment | 9 | |||||||
Foreign-flag Harbor Tugs [Member] | ||||||||
Commitments and Contingencies [Line Items] | ||||||||
Unrecorded Unconditional Purchase Obligation, Maximum Quantity | equipment | 2 | |||||||
Inland River Liquid Tank Barges - 30,000 Barrel [Member] | ||||||||
Commitments and Contingencies [Line Items] | ||||||||
Unrecorded Unconditional Purchase Obligation, Maximum Quantity | equipment | 1 | |||||||
Inland River Towboats [Member] | ||||||||
Commitments and Contingencies [Line Items] | ||||||||
Unrecorded Unconditional Purchase Obligation, Maximum Quantity | equipment | 3 | |||||||
Number of equipment leases | equipment | 4 | |||||||
Inland River Harbor Boats [Member] | ||||||||
Commitments and Contingencies [Line Items] | ||||||||
Number of equipment leases | equipment | 6 | |||||||
Offshore Support Vessels [Member] | ||||||||
Commitments and Contingencies [Line Items] | ||||||||
Number of equipment leases | equipment | 8 | |||||||
Minimum [Member] | ||||||||
Commitments and Contingencies [Line Items] | ||||||||
Sale Leaseback Transaction, Lease Terms | 10 | |||||||
Lessee Leasing Arrangements, Operating Leases, Term of Contract | 1 month | |||||||
Minimum [Member] | U.S.-flag Product Tankers [Member] | ||||||||
Commitments and Contingencies [Line Items] | ||||||||
Sale Leaseback Transaction, Lease Terms | 69 | |||||||
Maximum [Member] | ||||||||
Commitments and Contingencies [Line Items] | ||||||||
Sale Leaseback Transaction, Lease Terms | 84 | 84 | ||||||
Lessee Leasing Arrangements, Operating Leases, Term of Contract | 17 years | |||||||
Maximum [Member] | U.S.-flag Product Tankers [Member] | ||||||||
Commitments and Contingencies [Line Items] | ||||||||
Sale Leaseback Transaction, Lease Terms | 85 | |||||||
Multi-district Litigation [Member] | ||||||||
Commitments and Contingencies [Line Items] | ||||||||
Loss Contingency, New Claims Filed, Number | claim | 1 | |||||||
Loss Contingency, Number of Plaintiffs | 11 | |||||||
Abney Litigation [Member] | ||||||||
Commitments and Contingencies [Line Items] | ||||||||
Loss Contingency, New Claims Filed, Number | claim | 668 | |||||||
Abood Litigation [Member] | ||||||||
Commitments and Contingencies [Line Items] | ||||||||
Loss Contingency, New Claims Filed, Number | claim | 174 | |||||||
Offshore Marine Services [Member] | ||||||||
Commitments and Contingencies [Line Items] | ||||||||
Unrecorded unconditional purchase obligation | $ 94,850,000 | |||||||
Unrecorded Unconditional Purchase Obligation, Due in Remainder of Fiscal Year | 29,272,000 | |||||||
Unrecorded Unconditional Purchase Obligation, Due within Two Years | 50,555,000 | |||||||
Unrecorded Unconditional Purchase Obligation, Due within Three Years | 13,223,000 | |||||||
Unrecorded Unconditional Purchase Obligation, Due within Four Years | $ 1,800,000 | |||||||
Offshore Marine Services [Member] | Offshore Support Vessels Supply [Member] | ||||||||
Commitments and Contingencies [Line Items] | ||||||||
Unrecorded Unconditional Purchase Obligation, Contingent Upon a Third Party Option | $ 15,400,000 | |||||||
Unrecorded Unconditional Purchase Obligation, Contingent Upon a Third Party Option, Maximum Quantity | 1 | |||||||
Shipping Services [Member] | ||||||||
Commitments and Contingencies [Line Items] | ||||||||
Unrecorded unconditional purchase obligation | $ 55,430,000 | |||||||
Unrecorded Unconditional Purchase Obligation, Due in Remainder of Fiscal Year | 55,430,000 | |||||||
Unrecorded Unconditional Purchase Obligation, Due within Two Years | 0 | |||||||
Unrecorded Unconditional Purchase Obligation, Due within Three Years | 0 | |||||||
Unrecorded Unconditional Purchase Obligation, Due within Four Years | 0 | |||||||
Inland River Services [Member] | ||||||||
Commitments and Contingencies [Line Items] | ||||||||
Unrecorded unconditional purchase obligation | 30,102,000 | |||||||
Unrecorded Unconditional Purchase Obligation, Due in Remainder of Fiscal Year | 30,102,000 | |||||||
Unrecorded Unconditional Purchase Obligation, Due within Two Years | 0 | |||||||
Unrecorded Unconditional Purchase Obligation, Due within Three Years | 0 | |||||||
Unrecorded Unconditional Purchase Obligation, Due within Four Years | 0 | |||||||
Illinois Corn Processing Llc [Member] | ||||||||
Commitments and Contingencies [Line Items] | ||||||||
Unrecorded unconditional purchase obligation | 2,053,000 | |||||||
Unrecorded Unconditional Purchase Obligation, Due in Remainder of Fiscal Year | 1,678,000 | |||||||
Unrecorded Unconditional Purchase Obligation, Due within Two Years | 375,000 | |||||||
Unrecorded Unconditional Purchase Obligation, Due within Three Years | 0 | |||||||
Unrecorded Unconditional Purchase Obligation, Due within Four Years | $ 0 | |||||||
Other Income [Member] | ||||||||
Commitments and Contingencies [Line Items] | ||||||||
Gain (Loss) Related to Litigation Settlement | $ 14,700,000 |
Commitments And Contingencies84
Commitments And Contingencies (Future Minimum Payments Under Operating Leases) (Details) $ in Thousands | Dec. 31, 2016USD ($) |
Commitments and Contingencies Disclosure [Abstract] | |
Total Minimum Payments, 2017 | $ 59,014 |
Total Minimum Payments, 2018 | 58,772 |
Total Minimum Payments, 2019 | 43,836 |
Total Minimum Payments, 2020 | 38,570 |
Total Minimum Payments, 2021 | 28,386 |
Total Minimum Payments, Years subsequent to 2021 | 31,267 |
Non-cancelable Subleases, 2017 | 17,345 |
Non-cancelable Subleases, 2018 | 17,345 |
Non-cancelable Subleases, 2012 | 17,345 |
Non-cancelable Subleases, 2020 | 17,392 |
Non-cancelable Subleases, 2021 | 17,345 |
Non-cancelable Subleases, Years subsequent to 2021 | 24,045 |
Net Minimum Payments, 2017 | 41,669 |
Net Minimum Payments, 2018 | 41,427 |
Net Minimum Payments, 2019 | 26,491 |
Net Minimum Payments, 2020 | 21,178 |
Net Minimum Payments, 2021 | 11,041 |
Net Minimum Payments, Years subsequent to 2021 | $ 7,222 |
Major Customers And Segment I85
Major Customers And Segment Information (Operating Results, Capital Expenditures And Assets By Reportable Segments) (Details) - USD ($) | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Segment Reporting Information [Line Items] | |||||||||||
Operating Revenues | $ (213,036,000) | $ (206,983,000) | $ (197,038,000) | $ (213,928,000) | $ (250,631,000) | $ (261,852,000) | $ (281,609,000) | $ (260,644,000) | $ (830,985,000) | $ (1,054,736,000) | $ (1,319,394,000) |
Administrative and general | 138,581,000 | 156,611,000 | 164,938,000 | ||||||||
Depreciation and amortization | 124,933,000 | 125,987,000 | 131,819,000 | ||||||||
Total costs and expenses | 861,327,000 | 1,031,203,000 | 1,206,129,000 | ||||||||
Gains (Losses) on Asset Dispositions and Impairments, Net | (142,205,000) | (2,408,000) | 51,978,000 | ||||||||
Operating Income (Loss) | (99,364,000) | $ (33,016,000) | $ (30,151,000) | $ (10,016,000) | (928,000) | $ 28,221,000 | $ 7,499,000 | $ (13,667,000) | (172,547,000) | 21,125,000 | 165,243,000 |
Derivative gains (losses), net | (10,225,000) | (2,096,000) | (3,902,000) | ||||||||
Foreign currency gains (losses), net | (1,868,000) | (4,752,000) | (6,335,000) | ||||||||
Other, net | (20,206,000) | 6,773,000 | 3,439,000 | ||||||||
Income (Loss) from Equity Method Investments | (27,354,000) | (40,414,000) | 16,309,000 | ||||||||
Income Before Income Tax Expense (Benefit) and Equity in Earnings of 50% or Less Owned Companies | (262,248,000) | (30,798,000) | 163,235,000 | ||||||||
Payments to Acquire Property, Plant, and Equipment | 358,413,000 | 295,930,000 | 360,637,000 | ||||||||
Property, Plant and Equipment, Gross | 2,194,023,000 | 2,123,201,000 | 2,194,023,000 | 2,123,201,000 | |||||||
Accumulated depreciation | (1,008,867,000) | (994,181,000) | (1,008,867,000) | (994,181,000) | |||||||
Construction in progress | 370,512,000 | 454,605,000 | 370,512,000 | 454,605,000 | |||||||
Net property and equipment | 1,555,668,000 | 1,583,625,000 | 1,555,668,000 | 1,583,625,000 | 1,502,673,000 | ||||||
Investments, at Equity, and Advances to 50% or Less Owned Companies | 313,772,000 | 331,103,000 | 313,772,000 | 331,103,000 | |||||||
Inventories | 16,773,000 | 24,768,000 | 16,773,000 | 24,768,000 | |||||||
Goodwill | 32,758,000 | 52,340,000 | 32,758,000 | 52,340,000 | |||||||
Intangible Assets | 20,078,000 | 26,392,000 | 20,078,000 | 26,392,000 | |||||||
Total Assets | 2,862,321,000 | 3,185,419,000 | 2,862,321,000 | 3,185,419,000 | 3,234,373,000 | ||||||
Offshore Marine Services [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating Revenues | (215,536,000) | (368,744,000) | (529,761,000) | ||||||||
Property, Plant and Equipment, Gross | 958,759,000 | 1,102,619,000 | 958,759,000 | 1,102,619,000 | |||||||
Net property and equipment | 418,140,000 | 555,657,000 | 418,140,000 | 555,657,000 | |||||||
Inland River Services [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating Revenues | (165,140,000) | (227,601,000) | (249,288,000) | ||||||||
Property, Plant and Equipment, Gross | 419,714,000 | 485,144,000 | 419,714,000 | 485,144,000 | |||||||
Net property and equipment | 252,587,000 | 313,873,000 | 252,587,000 | 313,873,000 | |||||||
Shipping Services [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating Revenues | (229,643,000) | (227,142,000) | (214,316,000) | ||||||||
Property, Plant and Equipment, Gross | 727,602,000 | 454,144,000 | 727,602,000 | 454,144,000 | |||||||
Net property and equipment | 469,598,000 | 215,068,000 | 469,598,000 | 215,068,000 | |||||||
Illinois Corn Processing Llc [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating Revenues | (177,401,000) | (166,905,000) | (236,293,000) | ||||||||
Property, Plant and Equipment, Gross | 56,708,000 | 47,256,000 | 56,708,000 | 47,256,000 | |||||||
Net property and equipment | 33,019,000 | 27,866,000 | 33,019,000 | 27,866,000 | |||||||
Sales Revenue, Goods, Net | 167,000,000 | 154,800,000 | 224,400,000 | ||||||||
Cost of Goods Sold | 148,200,000 | 131,900,000 | 175,800,000 | ||||||||
Inventory, Raw Materials | 1,800,000 | 2,100,000 | 1,800,000 | 2,100,000 | 2,200,000 | ||||||
Inventory, Work in Process | 1,500,000 | 1,500,000 | 1,500,000 | 1,500,000 | 1,700,000 | ||||||
Witt O'Brien's LLC [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating Revenues | (42,783,000) | (49,838,000) | (27,691,000) | ||||||||
Other Segments [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating Revenues | (482,000) | (14,506,000) | (62,045,000) | ||||||||
Corporate And Eliminations [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating Revenues | 0 | 0 | 0 | ||||||||
Operating Segments [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating Revenues | (830,985,000) | (1,054,736,000) | (1,319,394,000) | ||||||||
Operating Expenses | 597,813,000 | 748,605,000 | 909,372,000 | ||||||||
Administrative and general | 138,581,000 | 156,611,000 | 164,938,000 | ||||||||
Depreciation and amortization | 124,933,000 | 125,987,000 | 131,819,000 | ||||||||
Total costs and expenses | 861,327,000 | 1,031,203,000 | 1,206,129,000 | ||||||||
Gains (Losses) on Asset Dispositions and Impairments, Net | (142,205,000) | (2,408,000) | 51,978,000 | ||||||||
Operating Income (Loss) | (172,547,000) | 21,125,000 | 165,243,000 | ||||||||
Derivative gains (losses), net | (10,225,000) | (2,096,000) | (3,902,000) | ||||||||
Foreign currency gains (losses), net | (1,868,000) | (4,752,000) | (6,335,000) | ||||||||
Other, net | (20,206,000) | 6,773,000 | 3,439,000 | ||||||||
Income (Loss) from Equity Method Investments | (27,354,000) | (40,414,000) | 16,309,000 | ||||||||
Payments to Acquire Property, Plant, and Equipment | 358,413,000 | 295,930,000 | 360,637,000 | ||||||||
Property, Plant and Equipment, Gross | 2,194,023,000 | 2,123,201,000 | 2,194,023,000 | 2,123,201,000 | 2,086,957,000 | ||||||
Accumulated depreciation | (1,008,867,000) | (994,181,000) | (1,008,867,000) | (994,181,000) | (902,284,000) | ||||||
Property, Plant and Equipment, Net In Service | 1,185,156,000 | 1,129,020,000 | 1,185,156,000 | 1,129,020,000 | 1,184,673,000 | ||||||
Construction in progress | 370,512,000 | 454,605,000 | 370,512,000 | 454,605,000 | 318,000,000 | ||||||
Net property and equipment | 1,555,668,000 | 1,583,625,000 | 1,555,668,000 | 1,583,625,000 | 1,502,673,000 | ||||||
Investments, at Equity, and Advances to 50% or Less Owned Companies | 313,772,000 | 331,103,000 | 313,772,000 | 331,103,000 | 484,157,000 | ||||||
Inventories | 16,773,000 | 24,768,000 | 16,773,000 | 24,768,000 | 22,783,000 | ||||||
Goodwill | 32,758,000 | 52,340,000 | 32,758,000 | 52,340,000 | 62,759,000 | ||||||
Intangible Assets | 20,078,000 | 26,392,000 | 20,078,000 | 26,392,000 | 32,727,000 | ||||||
Other current and long-term assets, excluding cash and near cash assets | 249,679,000 | 243,574,000 | 249,679,000 | 243,574,000 | 342,630,000 | ||||||
Operating Segments [Member] | Offshore Marine Services [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating Revenues | (215,636,000) | (368,868,000) | (529,944,000) | ||||||||
Operating Expenses | 166,925,000 | 275,972,000 | 365,092,000 | ||||||||
Administrative and general | 49,308,000 | 53,085,000 | 58,353,000 | ||||||||
Depreciation and amortization | 58,069,000 | 61,729,000 | 64,615,000 | ||||||||
Total costs and expenses | 274,302,000 | 390,786,000 | 488,060,000 | ||||||||
Gains (Losses) on Asset Dispositions and Impairments, Net | (116,222,000) | (17,017,000) | 26,545,000 | ||||||||
Operating Income (Loss) | (174,888,000) | (38,935,000) | 68,429,000 | ||||||||
Derivative gains (losses), net | 2,995,000 | (2,766,000) | (171,000) | ||||||||
Foreign currency gains (losses), net | (3,312,000) | (27,000) | (1,375,000) | ||||||||
Other, net | (1,490,000) | 261,000 | 14,671,000 | ||||||||
Income (Loss) from Equity Method Investments | (6,314,000) | 8,757,000 | 10,468,000 | ||||||||
Segment Profit (Loss) | (183,009,000) | (32,710,000) | 92,022,000 | ||||||||
Payments to Acquire Property, Plant, and Equipment | 100,884,000 | 87,765,000 | 83,513,000 | ||||||||
Property, Plant and Equipment, Gross | 958,759,000 | 1,102,619,000 | 958,759,000 | 1,102,619,000 | 1,060,986,000 | ||||||
Accumulated depreciation | (540,619,000) | (546,962,000) | (540,619,000) | (546,962,000) | (500,007,000) | ||||||
Property, Plant and Equipment, Net In Service | 418,140,000 | 555,657,000 | 418,140,000 | 555,657,000 | 560,979,000 | ||||||
Construction in progress | 123,801,000 | 97,900,000 | 123,801,000 | 97,900,000 | 87,935,000 | ||||||
Net property and equipment | 541,941,000 | 653,557,000 | 541,941,000 | 653,557,000 | 648,914,000 | ||||||
Investments, at Equity, and Advances to 50% or Less Owned Companies | 138,311,000 | 130,010,000 | 138,311,000 | 130,010,000 | 115,436,000 | ||||||
Inventories | 3,058,000 | 4,000,000 | 3,058,000 | 4,000,000 | 5,570,000 | ||||||
Goodwill | 0 | 0 | 0 | 0 | 13,367,000 | ||||||
Intangible Assets | 0 | 1,049,000 | 0 | 1,049,000 | 1,917,000 | ||||||
Other current and long-term assets, excluding cash and near cash assets | 72,810,000 | 97,488,000 | 72,810,000 | 97,488,000 | 128,499,000 | ||||||
Total Assets | 756,120,000 | 886,104,000 | 756,120,000 | 886,104,000 | 913,703,000 | ||||||
Operating Segments [Member] | Inland River Services [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating Revenues | (167,543,000) | (230,482,000) | (253,150,000) | ||||||||
Operating Expenses | 124,460,000 | 168,015,000 | 174,918,000 | ||||||||
Administrative and general | 14,616,000 | 15,567,000 | 15,937,000 | ||||||||
Depreciation and amortization | 26,327,000 | 28,632,000 | 29,435,000 | ||||||||
Total costs and expenses | 165,403,000 | 212,214,000 | 220,290,000 | ||||||||
Gains (Losses) on Asset Dispositions and Impairments, Net | 3,193,000 | 14,868,000 | 29,657,000 | ||||||||
Operating Income (Loss) | 5,333,000 | 33,136,000 | 62,517,000 | ||||||||
Derivative gains (losses), net | 0 | 294,000 | 0 | ||||||||
Foreign currency gains (losses), net | 1,722,000 | (3,726,000) | (3,335,000) | ||||||||
Other, net | (4,000) | 0 | (38,000) | ||||||||
Income (Loss) from Equity Method Investments | (15,944,000) | (31,200,000) | 6,673,000 | ||||||||
Segment Profit (Loss) | (8,893,000) | (1,496,000) | 65,817,000 | ||||||||
Payments to Acquire Property, Plant, and Equipment | 36,803,000 | 69,736,000 | 58,481,000 | ||||||||
Property, Plant and Equipment, Gross | 419,714,000 | 485,144,000 | 419,714,000 | 485,144,000 | 491,079,000 | ||||||
Accumulated depreciation | (167,127,000) | (171,271,000) | (167,127,000) | (171,271,000) | (159,532,000) | ||||||
Property, Plant and Equipment, Net In Service | 252,587,000 | 313,873,000 | 252,587,000 | 313,873,000 | 331,547,000 | ||||||
Construction in progress | 13,003,000 | 17,807,000 | 13,003,000 | 17,807,000 | 27,415,000 | ||||||
Net property and equipment | 265,590,000 | 331,680,000 | 265,590,000 | 331,680,000 | 358,962,000 | ||||||
Investments, at Equity, and Advances to 50% or Less Owned Companies | 69,181,000 | 81,363,000 | 69,181,000 | 81,363,000 | 103,688,000 | ||||||
Inventories | 1,602,000 | 1,493,000 | 1,602,000 | 1,493,000 | 2,536,000 | ||||||
Goodwill | 2,400,000 | 2,364,000 | 2,400,000 | 2,364,000 | 2,573,000 | ||||||
Intangible Assets | 12,018,000 | 5,961,000 | 12,018,000 | 5,961,000 | 6,483,000 | ||||||
Other current and long-term assets, excluding cash and near cash assets | 88,165,000 | 72,180,000 | 88,165,000 | 72,180,000 | 99,335,000 | ||||||
Total Assets | 438,956,000 | 495,041,000 | 438,956,000 | 495,041,000 | 573,577,000 | ||||||
Operating Segments [Member] | Shipping Services [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating Revenues | (229,643,000) | (227,142,000) | (214,316,000) | ||||||||
Operating Expenses | 122,631,000 | 129,039,000 | 112,771,000 | ||||||||
Administrative and general | 27,825,000 | 26,215,000 | 24,518,000 | ||||||||
Depreciation and amortization | 31,162,000 | 26,296,000 | 28,420,000 | ||||||||
Total costs and expenses | 181,618,000 | 181,550,000 | 165,709,000 | ||||||||
Gains (Losses) on Asset Dispositions and Impairments, Net | 411,000 | 0 | 159,000 | ||||||||
Operating Income (Loss) | 48,436,000 | 45,592,000 | 48,766,000 | ||||||||
Derivative gains (losses), net | 0 | 0 | 0 | ||||||||
Foreign currency gains (losses), net | (18,000) | (30,000) | (40,000) | ||||||||
Other, net | (6,224,000) | 2,053,000 | (3,630,000) | ||||||||
Income (Loss) from Equity Method Investments | (4,697,000) | (18,782,000) | (661,000) | ||||||||
Segment Profit (Loss) | 37,497,000 | 28,833,000 | 44,435,000 | ||||||||
Payments to Acquire Property, Plant, and Equipment | 215,837,000 | 134,581,000 | 199,602,000 | ||||||||
Property, Plant and Equipment, Gross | 727,602,000 | 454,144,000 | 727,602,000 | 454,144,000 | 453,862,000 | ||||||
Accumulated depreciation | (258,004,000) | (239,076,000) | (258,004,000) | (239,076,000) | (213,072,000) | ||||||
Property, Plant and Equipment, Net In Service | 469,598,000 | 215,068,000 | 469,598,000 | 215,068,000 | 240,790,000 | ||||||
Construction in progress | 233,214,000 | 335,113,000 | 233,214,000 | 335,113,000 | 201,554,000 | ||||||
Net property and equipment | 702,812,000 | 550,181,000 | 702,812,000 | 550,181,000 | 442,344,000 | ||||||
Investments, at Equity, and Advances to 50% or Less Owned Companies | 51,620,000 | 64,499,000 | 51,620,000 | 64,499,000 | 222,420,000 | ||||||
Inventories | 843,000 | 701,000 | 843,000 | 701,000 | 1,030,000 | ||||||
Goodwill | 1,852,000 | 1,852,000 | 1,852,000 | 1,852,000 | 1,852,000 | ||||||
Intangible Assets | 0 | 0 | 0 | 0 | 292,000 | ||||||
Other current and long-term assets, excluding cash and near cash assets | 29,801,000 | 28,359,000 | 29,801,000 | 28,359,000 | 23,910,000 | ||||||
Total Assets | 786,928,000 | 645,592,000 | 786,928,000 | 645,592,000 | 691,848,000 | ||||||
Operating Segments [Member] | Illinois Corn Processing Llc [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating Revenues | (177,401,000) | (166,905,000) | (236,293,000) | ||||||||
Operating Expenses | 158,495,000 | 143,967,000 | 187,849,000 | ||||||||
Administrative and general | 3,011,000 | 2,307,000 | 2,177,000 | ||||||||
Depreciation and amortization | 4,299,000 | 3,902,000 | 4,119,000 | ||||||||
Total costs and expenses | 165,805,000 | 150,176,000 | 194,145,000 | ||||||||
Gains (Losses) on Asset Dispositions and Impairments, Net | 0 | 0 | 0 | ||||||||
Operating Income (Loss) | 11,596,000 | 16,729,000 | 42,148,000 | ||||||||
Derivative gains (losses), net | 911,000 | (1,251,000) | (3,777,000) | ||||||||
Foreign currency gains (losses), net | 0 | 0 | 0 | ||||||||
Other, net | 0 | 4,112,000 | 660,000 | ||||||||
Income (Loss) from Equity Method Investments | 0 | 0 | 0 | ||||||||
Segment Profit (Loss) | 12,507,000 | 19,590,000 | 39,031,000 | ||||||||
Payments to Acquire Property, Plant, and Equipment | 4,723,000 | 4,712,000 | 3,108,000 | ||||||||
Property, Plant and Equipment, Gross | 56,708,000 | 47,256,000 | 56,708,000 | 47,256,000 | 47,256,000 | ||||||
Accumulated depreciation | (23,689,000) | (19,390,000) | (23,689,000) | (19,390,000) | (15,488,000) | ||||||
Property, Plant and Equipment, Net In Service | 33,019,000 | 27,866,000 | 33,019,000 | 27,866,000 | 31,768,000 | ||||||
Construction in progress | 701,000 | 5,430,000 | 701,000 | 5,430,000 | 718,000 | ||||||
Net property and equipment | 33,720,000 | 33,296,000 | 33,720,000 | 33,296,000 | 32,486,000 | ||||||
Investments, at Equity, and Advances to 50% or Less Owned Companies | 0 | 0 | 0 | 0 | 0 | ||||||
Inventories | 11,133,000 | 18,574,000 | 11,133,000 | 18,574,000 | 11,170,000 | ||||||
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 | 11,850,000 | 7,739,000 | 11,850,000 | 7,739,000 | 11,538,000 | ||||||
Total Assets | 56,703,000 | 59,609,000 | 56,703,000 | 59,609,000 | 55,194,000 | ||||||
Operating Segments [Member] | Witt O'Brien's LLC [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating Revenues | (42,916,000) | (49,984,000) | (27,691,000) | ||||||||
Operating Expenses | 28,561,000 | 21,899,000 | 12,978,000 | ||||||||
Administrative and general | 16,214,000 | 24,096,000 | 19,180,000 | ||||||||
Depreciation and amortization | 1,539,000 | 1,711,000 | 1,045,000 | ||||||||
Total costs and expenses | 46,314,000 | 47,706,000 | 33,203,000 | ||||||||
Gains (Losses) on Asset Dispositions and Impairments, Net | (29,587,000) | (27,000) | 0 | ||||||||
Operating Income (Loss) | (32,985,000) | 2,251,000 | (5,512,000) | ||||||||
Derivative gains (losses), net | 0 | 0 | 0 | ||||||||
Foreign currency gains (losses), net | (181,000) | (36,000) | (53,000) | ||||||||
Other, net | 0 | 19,000 | (5,056,000) | ||||||||
Income (Loss) from Equity Method Investments | 305,000 | 135,000 | (465,000) | ||||||||
Segment Profit (Loss) | (32,861,000) | 2,369,000 | (11,086,000) | ||||||||
Payments to Acquire Property, Plant, and Equipment | 2,000 | 409,000 | 0 | ||||||||
Property, Plant and Equipment, Gross | 1,559,000 | 3,338,000 | 1,559,000 | 3,338,000 | 3,342,000 | ||||||
Accumulated depreciation | (1,244,000) | (2,834,000) | (1,244,000) | (2,834,000) | (3,002,000) | ||||||
Property, Plant and Equipment, Net In Service | 315,000 | 504,000 | 315,000 | 504,000 | 340,000 | ||||||
Construction in progress | 0 | 0 | 0 | 0 | 0 | ||||||
Net property and equipment | 315,000 | 504,000 | 315,000 | 504,000 | 340,000 | ||||||
Investments, at Equity, and Advances to 50% or Less Owned Companies | 566,000 | 344,000 | 566,000 | 344,000 | 524,000 | ||||||
Inventories | 137,000 | 0 | 137,000 | 0 | 0 | ||||||
Goodwill | 28,506,000 | 48,124,000 | 28,506,000 | 48,124,000 | 44,967,000 | ||||||
Intangible Assets | 8,060,000 | 19,382,000 | 8,060,000 | 19,382,000 | 24,035,000 | ||||||
Other current and long-term assets, excluding cash and near cash assets | 14,284,000 | 14,780,000 | 14,284,000 | 14,780,000 | 26,131,000 | ||||||
Total Assets | 51,868,000 | 83,134,000 | 51,868,000 | 83,134,000 | 95,997,000 | ||||||
Operating Segments [Member] | Other Segments [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating Revenues | (482,000) | (14,506,000) | (62,045,000) | ||||||||
Operating Expenses | 0 | 13,054,000 | 59,666,000 | ||||||||
Administrative and general | 1,001,000 | 2,546,000 | 5,957,000 | ||||||||
Depreciation and amortization | 0 | 5,000 | 284,000 | ||||||||
Total costs and expenses | 1,001,000 | 15,605,000 | 65,907,000 | ||||||||
Gains (Losses) on Asset Dispositions and Impairments, Net | 0 | (232,000) | (1,077,000) | ||||||||
Operating Income (Loss) | (519,000) | (1,331,000) | (4,939,000) | ||||||||
Derivative gains (losses), net | 0 | (472,000) | 270,000 | ||||||||
Foreign currency gains (losses), net | (1,000) | (11,000) | (102,000) | ||||||||
Other, net | (12,608,000) | 33,000 | (3,097,000) | ||||||||
Income (Loss) from Equity Method Investments | (704,000) | 676,000 | 294,000 | ||||||||
Segment Profit (Loss) | (13,832,000) | (1,105,000) | (7,574,000) | ||||||||
Payments to Acquire Property, Plant, and Equipment | 0 | 0 | 148,000 | ||||||||
Property, Plant and Equipment, Gross | 0 | 0 | 0 | 0 | 271,000 | ||||||
Accumulated depreciation | 0 | 0 | 0 | 0 | (247,000) | ||||||
Property, Plant and Equipment, Net In Service | 0 | 0 | 0 | 0 | 24,000 | ||||||
Construction in progress | 0 | 0 | 0 | 0 | 234,000 | ||||||
Net property and equipment | 0 | 0 | 0 | 0 | 258,000 | ||||||
Investments, at Equity, and Advances to 50% or Less Owned Companies | 54,094,000 | 54,887,000 | 54,094,000 | 54,887,000 | 42,089,000 | ||||||
Inventories | 0 | 0 | 0 | 0 | 2,477,000 | ||||||
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 | 11,193,000 | 16,014,000 | 11,193,000 | 16,014,000 | 45,547,000 | ||||||
Total Assets | 65,287,000 | 70,901,000 | 65,287,000 | 70,901,000 | 90,371,000 | ||||||
Operating Segments [Member] | Corporate And Eliminations [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating Revenues | 2,636,000 | 3,151,000 | 4,045,000 | ||||||||
Operating Expenses | (3,259,000) | (3,341,000) | (3,902,000) | ||||||||
Administrative and general | 26,606,000 | 32,795,000 | 38,816,000 | ||||||||
Depreciation and amortization | 3,537,000 | 3,712,000 | 3,901,000 | ||||||||
Total costs and expenses | 26,884,000 | 33,166,000 | 38,815,000 | ||||||||
Gains (Losses) on Asset Dispositions and Impairments, Net | 0 | 0 | (3,306,000) | ||||||||
Operating Income (Loss) | (29,520,000) | (36,317,000) | (46,166,000) | ||||||||
Derivative gains (losses), net | (14,131,000) | 2,099,000 | (224,000) | ||||||||
Foreign currency gains (losses), net | (78,000) | (922,000) | (1,430,000) | ||||||||
Other, net | 120,000 | 295,000 | (71,000) | ||||||||
Income (Loss) from Equity Method Investments | 0 | 0 | 0 | ||||||||
Payments to Acquire Property, Plant, and Equipment | 164,000 | (1,273,000) | 15,785,000 | ||||||||
Property, Plant and Equipment, Gross | 29,681,000 | 30,700,000 | 29,681,000 | 30,700,000 | 30,161,000 | ||||||
Accumulated depreciation | (18,184,000) | (14,648,000) | (18,184,000) | (14,648,000) | (10,936,000) | ||||||
Property, Plant and Equipment, Net In Service | 11,497,000 | 16,052,000 | 11,497,000 | 16,052,000 | 19,225,000 | ||||||
Construction in progress | (207,000) | (1,645,000) | (207,000) | (1,645,000) | 144,000 | ||||||
Net property and equipment | 11,290,000 | 14,407,000 | 11,290,000 | 14,407,000 | 19,369,000 | ||||||
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 | 21,576,000 | 21,576,000 | 7,670,000 | ||||||||
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 | 100,000 | (124,000) | (183,000) | ||||||||
Intersegment Eliminations [Member] | Inland River Services [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating Revenues | 2,403,000 | (2,881,000) | (3,862,000) | ||||||||
Intersegment Eliminations [Member] | Shipping Services [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating Revenues | 0 | 0 | 0 | ||||||||
Intersegment Eliminations [Member] | Illinois Corn Processing Llc [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating Revenues | 0 | 0 | 0 | ||||||||
Intersegment Eliminations [Member] | Witt O'Brien's LLC [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating Revenues | 133,000 | (146,000) | 0 | ||||||||
Intersegment Eliminations [Member] | Other Segments [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating Revenues | 0 | 0 | 0 | ||||||||
Intersegment Eliminations [Member] | Corporate And Eliminations [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating Revenues | (2,636,000) | 3,151,000 | 4,045,000 | ||||||||
Segment Reconciling Items [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Other Income (Expense) not included in Segment Profit | 57,402,000 | 51,848,000 | (4,790,000) | ||||||||
Less Equity Earnings included in Segment Profit | 27,354,000 | 40,414,000 | (16,309,000) | ||||||||
Cash and near cash assets | $ 673,593,000 | $ 923,617,000 | $ 673,593,000 | $ 923,617,000 | $ 786,644,000 |
Major Customers And Segment I86
Major Customers And Segment Information (Revenues Attributed By Geographical Region) (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Segment Reporting Information [Line Items] | |||||||||||
Operating Revenues | $ 213,036 | $ 206,983 | $ 197,038 | $ 213,928 | $ 250,631 | $ 261,852 | $ 281,609 | $ 260,644 | $ 830,985 | $ 1,054,736 | $ 1,319,394 |
Non-US [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Concentration Risk, Percentage | 29.00% | 29.00% | 30.00% | ||||||||
UNITED STATES | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating Revenues | $ 590,310 | $ 751,548 | $ 925,750 | ||||||||
Africa Primarily West Africa [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating Revenues | 37,764 | 57,268 | 70,743 | ||||||||
Europe Primarily North Sea [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating Revenues | 82,730 | 104,042 | 112,644 | ||||||||
Middle East and Asia [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating Revenues | 54,950 | 65,045 | 69,598 | ||||||||
Brazil, Mexico Central And South America [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating Revenues | 64,837 | 76,404 | 140,460 | ||||||||
Other [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating Revenues | $ 394 | $ 429 | $ 199 |
Major Customers And Segment I87
Major Customers And Segment Information (Property And Equipment Based Upon The Assets' Physical Location) (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Segment Reporting Information [Line Items] | |||
Net property and equipment | $ 1,555,668 | $ 1,583,625 | $ 1,502,673 |
UNITED STATES | |||
Segment Reporting Information [Line Items] | |||
Net property and equipment | 1,185,917 | 1,181,586 | 1,120,765 |
Africa Primarily West Africa [Member] | |||
Segment Reporting Information [Line Items] | |||
Net property and equipment | 75,772 | 73,406 | 82,495 |
Europe Primarily North Sea [Member] | |||
Segment Reporting Information [Line Items] | |||
Net property and equipment | 83,767 | 72,544 | 75,382 |
Middle East and Asia [Member] | |||
Segment Reporting Information [Line Items] | |||
Net property and equipment | 99,974 | 129,476 | 84,598 |
Brazil, Mexico Central And South America [Member] | |||
Segment Reporting Information [Line Items] | |||
Net property and equipment | $ 110,238 | $ 126,613 | $ 139,433 |
Supplemental Information For 88
Supplemental Information For Statements Of Cash Flows (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Property, Plant and Equipment [Line Items] | |||
Income taxes paid | $ 11,933 | $ 23,791 | $ 52,348 |
Income taxes refunded | 3,933 | 4,550 | 2,055 |
Interest paid, excluding capitalized interest | 26,662 | 23,957 | 24,719 |
Company financed sale of equipment and real property | 7,950 | 1,768 | 45,305 |
Reclassification of Dorian to Marketable Securities | 0 | 102,509 | 0 |
Services and Equipment received to settle notes receivable | 0 | 2,500 | 0 |
Property, Plant and Equipment [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Services and Equipment received to settle notes receivable | 14,400 | 0 | 0 |
U.S.-flag Harbor Tugs [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Noncash or Part Noncash Divestiture, Amount of Consideration Received | $ 2,000 | $ 0 | $ 0 |
Quarterly Financial Informati89
Quarterly Financial Information (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Quarterly Financial Data [Abstract] | |||||||||||
Operating Revenues | $ 213,036 | $ 206,983 | $ 197,038 | $ 213,928 | $ 250,631 | $ 261,852 | $ 281,609 | $ 260,644 | $ 830,985 | $ 1,054,736 | $ 1,319,394 |
Operating Income (Loss) | (99,364) | (33,016) | (30,151) | (10,016) | (928) | 28,221 | 7,499 | (13,667) | (172,547) | 21,125 | 165,243 |
Net Income (Loss) | (90,289) | (34,026) | (50,933) | (20,524) | (49,853) | 16,405 | (8,501) | (17,901) | (195,772) | (59,850) | 124,347 |
Net Income (Loss) attributable to SEACOR Holdings Inc. | $ (93,749) | $ (39,803) | $ (55,159) | $ (27,186) | $ (56,865) | $ 6,965 | $ 687 | $ (19,569) | $ (215,897) | $ (68,782) | $ 100,132 |
Basic Earnings (Loss) Per Common Share of SEACOR Holdings Inc. | $ (5.52) | $ (2.35) | $ (3.26) | $ (1.62) | $ (3.36) | $ 0.40 | $ 0.04 | $ (1.10) | $ (12.76) | $ (3.94) | $ 5.18 |
Diluted Earnings (Loss) Per Common Share of SEACOR Holdings Inc. | $ (5.52) | $ (2.35) | $ (3.26) | $ (1.62) | $ (3.36) | $ 0.40 | $ 0.04 | $ (1.10) | $ (12.76) | $ (3.94) | $ 4.71 |
Valuation And Qualifying Acco90
Valuation And Qualifying Accounts (Details) - USD ($) | 12 Months Ended | |||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Valuation and Qualifying Accounts Disclosure [Line Items] | ||||
Inventory Valuation Reserves | $ 8,000 | $ 670,000 | $ 0 | $ 26,000 |
Balance Beginning of Year | 2,483,000 | 3,162,000 | 1,162,000 | |
Bad debt expense (income) | 7,054,000 | 842,000 | 2,618,000 | |
Valuation Allowances and Reserves, Charged to Cost and Expense | (662,000) | 670,000 | (26,000) | |
Deductions | (1,190,000) | (997,000) | (1,279,000) | |
Valuation Allowances and Reserves, Reserves of Businesses Acquired | 0 | 524,000 | 661,000 | |
Balance End of Year | 8,347,000 | 2,483,000 | 3,162,000 | |
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 | $ 0 |