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Acquisitions (Details) (USD $)
3 Months Ended 6 Months Ended 0 Months Ended 0 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
Dec. 31, 2012
Aug. 06, 2012
Frascati Shops, Inc. and Tower, LLC [Member]
Sep. 30, 2012
Frascati Shops, Inc. and Tower, LLC [Member]
Nov. 30, 2012
U.S. United Ocean Services, LLC Acquisition [Member]
Jun. 30, 2013
U.S. United Ocean Services, LLC Acquisition [Member]
Tugbarge
Handysizebulker
Ton
Dec. 31, 2012
U.S. United Ocean Services, LLC Acquisition [Member]
Business Acquisition [Line Items]                    
Acquisition date           Aug. 06, 2012   Nov. 30, 2012    
Subsidiary ownership interest acquired (in hundredths)               100.00%    
Amount of total consideration           $ 4,500,000   $ 114,700,000    
Cash payment included in purchase price           623,000   112,200,000    
Post-closing settlement payment                 2,500,000  
Acquisition expenses             40,000     1,800,000
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           18,000   8,511,000    
Inventory           231,000   6,510,000    
Property, Plant, & Equipment           3,411,000   60,037,000    
Identifiable Intangible Assets           490,000   45,131,000    
Total Assets Acquired           4,150,000   120,189,000    
Misc. Payables & Accrued Expenses           (412,000)   (5,470,000)    
Other Long Term Liability           (3,490,000)   (1,945,000)    
Deferred Tax Liability           (453,000)        
Total Liabilities Assumed           (4,355,000)   (7,415,000)    
Net Assets Acquired and Liabilities Assumed           (205,000)   112,774,000    
Total Consideration Transferred           (623,000)   (114,717,000)    
Goodwill 2,771,000   2,771,000   2,700,000 [1] 828,000 [2]   1,943,000 [3]    
Business acquisition, pro forma information [Abstract]                    
Revenues   82,270,000   164,540,000            
Net earnings attributable to ISH   $ 7,691,000   $ 15,383,000            
Net earnings per share attributable to ISH common stockholders [Abstract]                    
Basic (in dollars per share)   $ 1.07   $ 2.14            
Diluted (in dollars per share)   $ 1.07   $ 2.14            
Weighted average shares of common stock outstanding [Abstract]                    
Basic (in shares) 7,239,780 7,203,860 7,226,415 7,187,236            
Diluted (in shares) 7,263,206 7,234,505 7,248,377 7,202,559            
[1] The addition of $71,000 in goodwill is associated with post acquisition settlement adjustments on our 2012 acquistions. 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 FSI and Tower includes the following: · the expected synergies and other benefits that we believe will result from combining the operations of the Acquired Companies with our existing Rail-Ferry operations. · any intangible assets that do not qualify for separate recognition, including an assembled workforce of the acquired companies, and · the anticipated higher rate of return of the Acquired Companies existing businesses as going concerns compared to the anticipated rate 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 UOS includes the following: · the expected synergies and other benefits that we believe will result from combining the operations of UOS with our existing Jones Act operations. · any intangible assets that do not qualify for separate recognition, including an assembled workforce of the acquired company, and · the anticipated higher rate of return of UOS’s existing businesses as going concerns compared to the anticipated rate of return if we had acquired all of the net assets separately.