Income Taxes	9 Months Ended
Sep. 30, 2013
Income Taxes [Abstract]
Income Taxes	Note 8. Income Taxes We recorded a tax provision of $18,000 on our $1.8 million of loss before taxes and equity in net income of unconsolidated entities for the three months ended September 30, 2013. For the three months ended September 30, 2012 our income tax benefit was $396,000 on our $1.3 million of income before taxes and equity in net income of unconsolidated entities. These provision amounts represent tax on our qualifying U.S. flag operations, which continue to be taxed under a “tonnage tax” regime rather than under the normal U.S. corporate income tax regime and foreign tax withholdings. We established a valuation allowance against deferred tax assets in 2010 because, based on available information, we could not conclude that it was more likely than not that the full amount of deferred tax assets generated primarily by net operating loss carry forwards and alternative minimum tax credits would be realized through the generation of taxable income in the near future. We continue to evaluate the need for a valuation allowance on an annual basis and have ascertained that in the quarter it can be determined UOS contract revenues can reasonably expected to be earned beyond 2014 the deferred income tax assets of $10.7 million should become realizable and the valuation allowance would be reversed in that quarter. For further information on certain tax laws and elections, see our Annual Report on Form 10-K filed for the year ended December 31, 2012, including “Note J - Income Taxes” to the consolidated financial statements included therein.

Income Taxes

9 Months Ended

Sep. 30, 2013

Note 8. Income Taxes

We recorded a tax provision of $18,000 on our $1.8 million of loss before taxes and equity in net income of unconsolidated entities for the three months ended September 30, 2013. For the three months ended September 30, 2012 our income tax benefit was $396,000 on our $1.3 million of income before taxes and equity in net income of unconsolidated entities. These provision amounts represent tax on our qualifying U.S. flag operations, which continue to be taxed under a “tonnage tax” regime rather than under the normal U.S. corporate income tax regime and foreign tax withholdings.

We established a valuation allowance against deferred tax assets in 2010 because, based on available information, we could not conclude that it was more likely than not that the full amount of deferred tax assets generated primarily by net operating loss carry forwards and alternative minimum tax credits would be realized through the generation of taxable income in the near future. We continue to evaluate the need for a valuation allowance on an annual basis and have ascertained that in the quarter it can be determined UOS contract revenues can reasonably expected to be earned beyond 2014 the deferred income tax assets of $10.7 million should become realizable and the valuation allowance would be reversed in that quarter.

For further information on certain tax laws and elections, see our Annual Report on Form 10-K filed for the year ended December 31, 2012, including “Note J - Income Taxes” to the consolidated financial statements included therein.