Acquisitions (Tables)

9 Months Ended

Sep. 30, 2013

Business Acquisition [Line Items]

Business Acquisition, Pro Forma Information

		Three Months Ending		Nine Months Ending
		September 30, 2012		September 30, 2012
		Pro Forma		Pro Forma
Revenues	$	82,270	$	246,809
Net earnings attributable to ISH	$	7,691	$	23,074
Net earnings per share attributable to ISH common stockholders:
Basic	$	3.20	$	3.21
Diluted	$	3.20	$	3.20
Weighted average shares of common stock outstanding
Basic		7,203,860		7,192,818
Diluted		7,220,901		7,208,886

UOS [Member]

Business Acquisition [Line Items]

Assets Acquired and Liabilities Assumed

		Amount Recognized as of Acquisition Date
Description		(Dollars in Thousands)
Working Capital including Cash Acquired	$	8,512
Inventory		6,510
Property, Plant, & Equipment		60,037
Identifiable Intangible Assets		45,131
Total Assets Acquired		120,190
Misc. Payables & Accrued Expenses		(5,469)
Other Long Term Liability		(1,945)
Total Liabilities Assumed		(7,414)
Net Assets Acquired		112,776
Total Consideration Transferred		(114,717)
Goodwill*	$	1,941

*  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.

Frascati Shops, Inc. and Tower, LLC [Member]

Business Acquisition [Line Items]

Assets Acquired and Liabilities Assumed

		Amount Recognized as of Acquisition Date
Description		(Dollars in Thousands)
Working Capital including Cash Acquired	$	18
Inventory		231
Property, Plant, & Equipment		3,411
Identifiable Intangible Assets		490
Total Assets Acquired		4,150
Misc. Payables & Accrued Expenses		(412)
Long Term Debt		(3,490)
Deferred Tax Liability		(453)
Total Liabilities Assumed		(4,355)
Net Liabilities Assumed		(205)
Total Consideration Transferred		(623)
Goodwill*	$	828

*  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.