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Operating Segments (Tables)
 6 Months Ended
Jun. 30, 2012
Operating Segments [Abstract]  
Schedule of segment reporting information by segment
The following table presents information about segment profit and loss for the three months ended June 30, 2012 and 2011:
 
(Amounts in Thousands)
 
Time
 Charter
 Contracts-
U.S. Flag
 
 
Time
 Charter
 Contracts-
 International
 Flag
 
 
COA
 
 
Rail-Ferry
 Service
 
 
Other
 
 
Total
 
Three months ended June 30, 2012
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenues from External Customers
 
$
34,488
 
 
$
11,931
 
 
$
4,207
 
 
$
9,396
 
 
$
298
 
 
$
60,320
 
Intersegment Revenues (Eliminated)
 
 
-
 
 
 
-
 
 
 
-
 
 
 
-
 
 
 
(5,250
)
 
 
(5,250
)
Intersegment Expenses (Eliminated)
 
 
-
 
 
 
-
 
 
 
-
 
 
 
-
 
 
 
5,250
 
 
 
5,250
 
Voyage Expenses (Income)
 
 
27,858
 
 
 
7,252
 
 
 
4,081
 
 
 
7,948
 
 
 
(113
)
 
 
47,026
 
Add back:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
     Operating Lease Expense
 
 
900
 
 
 
-
 
 
 
910
 
 
 
-
 
 
 
-
 
 
 
1,810
 
     Direct Finance Lease Amortization
 
 
760
 
 
 
-
 
 
 
-
 
 
 
-
 
 
 
-
 
 
 
760
 
Gross Voyage Profit *
 
 
8,290
 
 
 
4,679
 
 
 
1,036
 
 
 
1,448
 
 
 
411
 
 
 
15,864
 
Gross Voyage Profit Percentage
 
 
24
%
 
 
39
%
 
 
25
%
 
 
15
%
 
 
138
%
 
 
26
%
Less:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
     Operating Lease Expense
 
 
900
 
 
 
-
 
 
 
910
 
 
 
-
 
 
 
-
 
 
 
1,810
 
     Direct Finance Lease Amortization
 
 
760
 
 
 
-
 
 
 
-
 
 
 
-
 
 
 
-
 
 
 
760
 
     Vessel Depreciation
 
 
2,310
 
 
 
2,702
 
 
 
-
 
 
 
701
 
 
 
10
 
 
 
5,723
 
Gross Profit *
 
 
4,320
 
 
 
1,977
 
 
 
126
 
 
 
747
 
 
 
401
 
 
 
7,571
 
Interest Expense
 
 
550
 
 
 
1,213
 
 
 
259
 
 
 
161
 
 
 
98
 
 
 
2,281
 
Segment Profit (Loss)
 
 
3,770
 
 
 
764
 
 
 
(133
)
 
 
586
 
 
 
303
 
 
 
5,290
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three months ended June 30, 2011
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenues from External Customers
 
$
39,290
 
 
$
15,813
 
 
$
4,500
 
 
$
9,867
 
 
$
491
 
 
$
69,961
 
Intersegment Revenues (Eliminated)
 
 
-
 
 
 
-
 
 
 
-
 
 
 
-
 
 
 
(5,554
)
 
 
(5,554
)
Intersegment Expenses (Eliminated)
 
 
-
 
 
 
-
 
 
 
-
 
 
 
-
 
 
 
5,554
 
 
 
5,554
 
Voyage Expenses
 
 
29,952
 
 
 
8,294
 
 
 
4,601
 
 
 
8,807
 
 
 
160
 
 
 
51,814
 
Add Back:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
     Operating Lease Expense
 
 
1,060
 
 
 
2,195
 
 
 
898
 
 
 
-
 
 
 
-
 
 
 
4,153
 
     Direct Finance Lease Amortization
 
 
662
 
 
 
718
 
 
 
-
 
 
 
-
 
 
 
-
 
 
 
1,380
 
Gross Voyage Profit *
 
 
11,060
 
 
 
10,432
 
 
 
797
 
 
 
1,060
 
 
 
331
 
 
 
23,680
 
Gross Voyage Profit Percentage
 
 
28
%
 
 
66
%
 
 
18
%
 
 
11
%
 
 
67
%
 
 
34
%
Less:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
     Operating Lease Expense
 
 
1,060
 
 
 
2,195
 
 
 
898
 
 
 
-
 
 
 
-
 
 
 
4,153
 
     Direct Finance Lease Amortization
 
 
662
 
 
 
718
 
 
 
-
 
 
 
-
 
 
 
-
 
 
 
1,380
 
     Vessel Depreciation
 
 
2,495
 
 
 
2,699
 
 
 
-
 
 
 
899
 
 
 
2
 
 
 
6,095
 
Gross  Profit (Loss)*
 
 
6,843
 
 
 
4,820
 
 
 
(101
)
 
 
161
 
 
 
329
 
 
 
12,052
 
Interest Expense
 
 
678
 
 
 
1,337
 
 
 
-
 
 
 
193
 
 
 
122
 
 
 
2,330
 
Segment Profit (Loss)
 
 
6,165
 
 
 
3,483
 
 
 
(101
)
 
 
(32
)
 
 
207
 
 
 
9,722
 
 
*Information used by Chief Decision Makers.
 
The following table presents information about segment profit and loss for the six months ended June 30, 2012 and 2011:

(Amounts in Thousands)
 
Time
 Charter
 Contracts-
U.S. Flag
 
 
Time
 Charter
 Contracts-
International
Flag
 
 
COA
 
 
Rail-Ferry
 Service
 
 
Other
 
 
Total
 
Six months ended June 30, 2012
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenues from External Customers
 
$
73,506
 
 
$
25,234
 
 
$
7,600
 
 
$
18,597
 
 
$
587
 
 
$
125,524
 
Intersegment Revenues (Eliminated)
 
 
-
 
 
 
-
 
 
 
-
 
 
 
-
 
 
 
(10,311
)
 
 
(10,311
)
Intersegment Expenses (Eliminated)
 
 
-
 
 
 
-
 
 
 
-
 
 
 
-
 
 
 
10,311
 
 
 
10,311
 
Voyage Expenses (Income)
 
 
58,952
 
 
 
14,394
 
 
 
8,367
 
 
 
16,316
 
 
 
(177
)
 
 
97,852
 
Add back:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
     Operating Lease Expense
 
 
1,364
 
 
 
-
 
 
 
1,808
 
 
 
-
 
 
 
-
 
 
 
3,172
 
     Direct Finance Lease Amortization
 
 
1,499
 
 
 
780
 
 
 
-
 
 
 
-
 
 
 
-
 
 
 
2,279
 
Gross Voyage Profit *
 
 
17,417
 
 
 
11,620
 
 
 
1,041
 
 
 
2,281
 
 
 
764
 
 
 
33,123
 
Gross Voyage Profit Percentage
 
 
24
%
 
 
46
%
 
 
14
%
 
 
12
%
 
 
130
%
 
 
26
%
Less:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
     Operating Lease Expense
 
 
1,364
 
 
 
-
 
 
 
1,808
 
 
 
-
 
 
 
-
 
 
 
3,172
 
     Direct Finance Lease Amortization
 
 
1,499
 
 
 
780
 
 
 
-
 
 
 
-
 
 
 
-
 
 
 
2,279
 
     Vessel Depreciation
 
 
4,876
 
 
 
5,792
 
 
 
-
 
 
 
1,399
 
 
 
13
 
 
 
12,080
 
Gross Profit (Loss) *
 
 
9,678
 
 
 
5,048
 
 
 
(767
)
 
 
882
 
 
 
751
 
 
 
15,592
 
Interest Expense
 
 
1,308
 
 
 
2,828
 
 
 
259
 
 
 
383
 
 
 
230
 
 
 
5,008
 
Segment Profit (Loss)
 
 
8,370
 
 
 
2,220
 
 
 
(1,026
)
 
 
499
 
 
 
521
 
 
 
10,584
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Six Months ended June 30, 2011
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenues from External Customers
 
$
78,307
 
 
$
27,023
 
 
$
8,731
 
 
$
18,921
 
 
$
1,313
 
 
$
134,295
 
Intersegment Revenues (Eliminated)
 
 
-
 
 
 
-
 
 
 
-
 
 
 
-
 
 
 
(9,331
)
 
 
(9,331
)
Intersegment Expenses (Eliminated)
 
 
-
 
 
 
-
 
 
 
-
 
 
 
-
 
 
 
9,331
 
 
 
9,331
 
Voyage Expenses
 
 
59,951
 
 
 
15,179
 
 
 
8,912
 
 
 
16,438
 
 
 
324
 
 
 
100,804
 
Add Back:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
     Operating Lease Expense
 
 
2,119
 
 
 
3,746
 
 
 
1,797
 
 
 
-
 
 
 
-
 
 
 
7,662
 
     Direct Finance Lease Amortization
 
 
1,305
 
 
 
1,406
 
 
 
-
 
 
 
-
 
 
 
-
 
 
 
2,711
 
Gross Voyage Profit *
 
 
21,780
 
 
 
16,996
 
 
 
1,616
 
 
 
2,483
 
 
 
989
 
 
 
43,864
 
Gross Voyage Profit Percentage
 
 
28
%
 
 
63
%
 
 
19
%
 
 
13
%
 
 
75
%
 
 
33
%
Less:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
     Operating Lease Expense
 
 
2,119
 
 
 
3,746
 
 
 
1,797
 
 
 
-
 
 
 
-
 
 
 
7,662
 
     Direct Finance Lease Amortization
 
 
1,305
 
 
 
1,406
 
 
 
-
 
 
 
-
 
 
 
-
 
 
 
2,711
 
     Vessel Depreciation
 
 
5,004
 
 
 
4,689
 
 
 
-
 
 
 
1,771
 
 
 
5
 
 
 
11,469
 
Gross  Profit (Loss)*
 
 
13,352
 
 
 
7,155
 
 
 
(181
)
 
 
712
 
 
 
984
 
 
 
22,022
 
Interest Expense
 
 
1,353
 
 
 
2,638
 
 
 
-
 
 
 
386
 
 
 
243
 
 
 
4,620
 
Segment Profit (Loss)
 
 
11,999
 
 
 
4,517
 
 
 
(181
)
 
 
326
 
 
 
741
 
 
 
17,402
 
 
*Information used by Chief Decision Makers.
Reconciliation from segment totals to consolidated
The following table is a reconciliation of the totals reported for the operating segments to the applicable line items in the consolidated financial statements:

(All Amounts in Thousands)
 
Six Months Ended June 30,
 
 
Three Months Ended June 30,
 
Profit or Loss:
 
2012
 
 
2011
 
 
2012
 
 
2011
 
Total Profit for Reportable Segments
 
$
10,584
 
 
$
17,402
 
 
$
5,290
 
 
$
9,722
 
Unallocated Amounts:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Administrative and General Expenses
 
 
(10,228
)
 
 
(11,284
)
 
 
(4,720
)
 
 
(5,455
)
Gain on Sale/Purchase of Other Assets
 
 
4,466
 
 
 
-
 
 
 
667
 
 
 
-
 
Derivative Income (Loss)
 
 
32
 
 
 
15
 
 
 
(117
)
 
 
(106
)
Gain on Sale of Investment
 
 
66
 
 
 
114
 
 
 
24
 
 
 
114
 
Other Income from Vessel Financing
 
 
1,227
 
 
 
1,360
 
 
 
605
 
 
 
672
 
Investment Income
 
 
274
 
 
 
385
 
 
 
146
 
 
 
185
 
Foreign Exchange Gain (Loss)
 
 
1,914
 
 
 
(411
)
 
 
(1,734
)
 
 
(1,900
)
Gain on Dry Bulk Transaction
 
 
-
 
 
 
18,844
 
 
 
-
 
 
 
130
 
Income Before Provision for    Income Taxes and Equity in Net Income of Unconsolidated Entities
 
$
8,335
 
 
$
26,425
 
 
$
161
 
 
$
3,362