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Acquisitions (Details) (USD $)
3 Months Ended 3 Months Ended 3 Months Ended
Mar. 31, 2012
Mar. 31, 2013
Dec. 31, 2012
Mar. 31, 2013
U.S. United Ocean Services, LLC Acquisition [Member]
Dec. 31, 2012
U.S. United Ocean Services, LLC Acquisition [Member]
Nov. 30, 2012
U.S. United Ocean Services, LLC Acquisition [Member]
Handysizebulker
Tugbarge
Ton
Mar. 31, 2013
Frascati Shops, Inc. and Tower, LLC [Member]
Sep. 30, 2012
Frascati Shops, Inc. and Tower, LLC [Member]
Aug. 06, 2012
Frascati Shops, Inc. and Tower, LLC [Member]
Business Acquisition [Line Items]                  
Acquisition date       Nov. 30, 2012     Aug. 06, 2012    
Subsidiary ownership interest acquired (in hundredths)           100.00%      
Amount of total consideration           $ 114,700,000     $ 4,500,000
Cash payment included in purchase price           112,200,000     623,000
Post-closing settlement payment           2,500,000      
Acquisition expenses         1,800,000     40,000  
Weight of U.S. Flag Jones Act dry bulk fleet           131,000      
Number of handysize bulkers controlled by acquiree           2      
Number of tug/barge units controlled by acquiree           4      
Assumption of miscellaneous payables                 383,000
Summary of the amounts recognized for assets acquired and liabilities assumed [Abstract]                  
Working Capital including Cash Acquired           8,512,000     18,000
Inventory           6,510,000     231,000
Property, Plant, & Equipment           60,037,000     3,411,000
Identifiable Intangible Assets           45,131,000     490,000
Total Assets Acquired           120,190,000     4,150,000
Misc. Payables & Accrued Expenses           (5,469,000)     (412,000)
Other Long Term Liability           (1,945,000)     (3,490,000)
Deferred Tax Liability                 (453,000)
Total Liabilities Assumed           (7,414,000)     (4,355,000)
Net Assets Acquired and Liabilities Assumed           112,776,000     (205,000)
Total Consideration Transferred           (114,717,000)     (623,000)
Goodwill   2,771,000 [1] 2,700,000 [1]     1,943,000 [2]     828,000 [3]
Business acquisition, pro forma information [Abstract]                  
Revenues 82,270,000                
Net earnings attributable to ISH $ 7,691,000                
Net earnings per share attributable to ISH common stockholders [Abstract]                  
Basic (in dollars per share) $ 1.07                
Diluted (in dollars per share) $ 1.07                
[1] The addition of $71,000 in goodwill is associated with post acquisition settlement adjustments on our 2012 acquistiions. FSI was increased by $29,000 and UOS was increased by $42,000.
[2] Goodwill is calculated as the excess of the consideration transferred over the net assets acquired and represents the future economic benefits arising from other assets acquired that could not be individually identified and separately recognized. Our above-described goodwill will not be amortized nor do we expect it to be deductible for tax purposes. Specifically, the goodwill recorded as part of the acquisition of UOS includes the following: • the expected synergies and other benefits that we believe will result from combining the operations of UOS withour existing Jones Act operations. • any intangible assets that do not qualify for separate recognition, including an assembled workforce of theacquired company, and • the anticipated higher rate of return of UOS's existing businesses as going concerns compared to the anticipatedrate of return if we had acquired all of the net assets separately.
[3] Goodwill is calculated as the excess of the consideration transferred over the net assets acquired and represents the future economic benefits arising from other assets acquired that could not be individually identified and separately recognized. Our above-described goodwill will not be amortized nor do we expect it to be deductible for tax purposes. Specifically, the goodwill recorded as part of the acquisition of the Acquired Companies includes the following: • the expected synergies and other benefits that we believe will result from combining the operations of UOS withour existing Jones Act operations. • any intangible assets that do not qualify for separate recognition, including an assembled workforce of theacquired company, and • the anticipated higher rate of return of UOS's existing businesses as going concerns compared to the anticipatedrate of return if we had acquired all of the net assets separately.