Operating Segments (Tables)

3 Months Ended

Mar. 31, 2013

Segment reporting information by segment

The following table presents information about segment profit and loss for the three months ended March 31, 2013 and 2012:

(All Amounts in Thousands)	Jones Act	Pure Car Truck Carriers	Dry Bulk Carriers	Rail Ferry	Specialty Contracts	Other	Total
2013
Revenues from External Customers
Fixed Revenue	$ 31,855	$ 16,395	$ 874	$ -	$ 6,832	$ -	$ 55,956
Variable Revenue	-	11,477	3,361	9,128	855	347	25,168
Total Revenue from External Customers	31,855	27,872	4,235	9,128	7,687	347	81,124
Intersegment Revenues (Eliminated)	-	-	-	-	-	5,519	5,519
Intersegment Expenses (Eliminated)	-	-	-	-	-	(5,519)	(5,519)
Voyage Expenses	25,556	23,684	5,203	7,671	7,497	(20)	69,591
Loss (Income) of Unconsolidated Entities			331	(61)			270
Gross Voyage Profit (Loss)	6,299	4,188	(1,299)	1,518	190	367	11,263
Gross Voyage Profit Percentage	20%	15%	-31%	17%	2%	106%	14%
Vessel and Other Depreciation	1,107	2,039	1,638	495	515	-	5,794
Gross Profit (Loss)	5,192	2,149	(2,937)	1,023	(325)	367	5,469
Interest Expense	341	616	835	163	133	113	2,201
Segment Profit (Loss)	$ 4,851	$ 1,533	$ (3,772)	$ 860	$ (458)	$ 254	$ 3,268
2012
Revenues from External Customers
Fixed Revenue	$ 6,306	$ 20,015	$ 2,437	$ -	$ -	$ -	$ 28,758
Variable Revenue	-	12,587	3,073	9,201	11,298	287	36,446
Total Revenue from External Customers	6,306	32,602	5,510	9,201	11,298	287	65,204
Intersegment Revenues Eliminated	-	-	-	-	-	5,061	5,061
Intersegment Expenses (Eliminated)	-	-	-	-	-	(5,061)	(5,061)
Voyage Expenses	6,753	24,168	4,267	8,440	7,285	(87)	50,826
Loss (Income) of Unconsolidated Entities			(42)	112			70
Gross Voyage Profit (Loss)	(447)	8,434	1,285	649	4,013	374	14,308
Gross Voyage Profit Percentage	-7%	26%	23%	7%	36%	130%	22%
Vessel and Other Depreciation	305	3,473	1,363	698	516	2	6,357
Gross (Loss) Profit	(752)	4,961	(78)	(49)	3,497	372	7,951
Interest Expense	52	1,065	1,087	221	170	132	2,727
Segment (Loss) Profit	$ (804)	$ 3,896	$ (1,165)	$ (270)	$ 3,327	$ 240	$ 5,224

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)	Three Months Ended March 31,
Profit or Loss:	2013			2012
Total Profit for Reportable Segments	$	3,268		$	5,224
Unallocated Amounts:
Administrative and General Expenses		(5,433	)		(5,508	)
Gain on Sale of Other Assets		-			3,799
Derivative Gain		77			149
Gain on Sale of Investment		-			42
Other Income from Vessel Financing		555			622
Investment Income		40			128
Foreign Exchange Gain		3,181			3,648
Provisions for Income Taxes		(35	)		(168	)

Net Income	$	1,653		$	7,936

- Definition

Tabular disclosure of each significant reconciling item, other than profit (loss), revenues, or assets, in the reconciliation of totals of such items in reportable segments to the entity's corresponding consolidated amount.

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- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

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