XML 85 R62.htm IDEA: XBRL DOCUMENT v2.4.1.9
Acquisitions (Assets Acquired And Liabilities Assumed) (Details) (USD $)
In Thousands, unless otherwise specified
1 Months Ended 0 Months Ended
Nov. 30, 2012
Aug. 06, 2012
Dec. 31, 2014
Dec. 31, 2013
Business Acquisition [Line Items]        
Goodwill     $ 2,735us-gaap_Goodwill $ 2,735us-gaap_Goodwill
United Ocean Services, LLC [Member]        
Business Acquisition [Line Items]        
Working Capital including Cash Acquired 8,511ish_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedWorkingCapitalExcludingInventory
/ us-gaap_BusinessAcquisitionAxis
= ish_USUnitedOceanServicesLlcAcquisitionMember
     
Inventory 6,510us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedInventory
/ us-gaap_BusinessAcquisitionAxis
= ish_USUnitedOceanServicesLlcAcquisitionMember
     
Property, Plant, and Equipment 60,037us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment
/ us-gaap_BusinessAcquisitionAxis
= ish_USUnitedOceanServicesLlcAcquisitionMember
     
Identifiable Intangible Assets 45,131us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibles
/ us-gaap_BusinessAcquisitionAxis
= ish_USUnitedOceanServicesLlcAcquisitionMember
     
Total Assets Acquired 120,189us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedFinancialAssets
/ us-gaap_BusinessAcquisitionAxis
= ish_USUnitedOceanServicesLlcAcquisitionMember
     
Misc. Payables and Accrued Expenses (5,434)ish_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedMiscellaneousPayableAndAccruedExpenses
/ us-gaap_BusinessAcquisitionAxis
= ish_USUnitedOceanServicesLlcAcquisitionMember
     
Other Long-Term Liability (1,945)ish_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLongTermDebt
/ us-gaap_BusinessAcquisitionAxis
= ish_USUnitedOceanServicesLlcAcquisitionMember
     
Total Liabilities Assumed (7,379)us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedFinancialLiabilities
/ us-gaap_BusinessAcquisitionAxis
= ish_USUnitedOceanServicesLlcAcquisitionMember
     
Net Assets Acquired and Liabilities Assumed 112,810us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet
/ us-gaap_BusinessAcquisitionAxis
= ish_USUnitedOceanServicesLlcAcquisitionMember
     
Total Consideration Transferred (114,717)us-gaap_BusinessCombinationConsiderationTransferred1
/ us-gaap_BusinessAcquisitionAxis
= ish_USUnitedOceanServicesLlcAcquisitionMember
     
Goodwill 1,907us-gaap_Goodwill
/ us-gaap_BusinessAcquisitionAxis
= ish_USUnitedOceanServicesLlcAcquisitionMember
[1]      
Frascati Shops, Inc. And Tower, LLC [Member]        
Business Acquisition [Line Items]        
Working Capital including Cash Acquired   18ish_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedWorkingCapitalExcludingInventory
/ us-gaap_BusinessAcquisitionAxis
= ish_FrascatiShopsIncAndTowerLlcMember
   
Inventory   231us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedInventory
/ us-gaap_BusinessAcquisitionAxis
= ish_FrascatiShopsIncAndTowerLlcMember
   
Property, Plant, and Equipment   3,411us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment
/ us-gaap_BusinessAcquisitionAxis
= ish_FrascatiShopsIncAndTowerLlcMember
   
Identifiable Intangible Assets   490us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibles
/ us-gaap_BusinessAcquisitionAxis
= ish_FrascatiShopsIncAndTowerLlcMember
   
Total Assets Acquired   4,150us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedFinancialAssets
/ us-gaap_BusinessAcquisitionAxis
= ish_FrascatiShopsIncAndTowerLlcMember
   
Misc. Payables and Accrued Expenses   (412)ish_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedMiscellaneousPayableAndAccruedExpenses
/ us-gaap_BusinessAcquisitionAxis
= ish_FrascatiShopsIncAndTowerLlcMember
   
Other Long-Term Liability   (3,490)ish_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLongTermDebt
/ us-gaap_BusinessAcquisitionAxis
= ish_FrascatiShopsIncAndTowerLlcMember
   
Deferred Tax Liability   (453)ish_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedDeferredTaxLiability
/ us-gaap_BusinessAcquisitionAxis
= ish_FrascatiShopsIncAndTowerLlcMember
   
Total Liabilities Assumed   (4,355)us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedFinancialLiabilities
/ us-gaap_BusinessAcquisitionAxis
= ish_FrascatiShopsIncAndTowerLlcMember
   
Net Assets Acquired and Liabilities Assumed   (205)us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet
/ us-gaap_BusinessAcquisitionAxis
= ish_FrascatiShopsIncAndTowerLlcMember
   
Total Consideration Transferred   (623)us-gaap_BusinessCombinationConsiderationTransferred1
/ us-gaap_BusinessAcquisitionAxis
= ish_FrascatiShopsIncAndTowerLlcMember
   
Goodwill   $ 828us-gaap_Goodwill
/ us-gaap_BusinessAcquisitionAxis
= ish_FrascatiShopsIncAndTowerLlcMember
[2]    
[1] Goodwill represents the fair value 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 is not 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 companies, andthe 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.
[2] Goodwill represents the sum of the consideration transferred and the net liabilities assumed and represents the future economic benefits arising from other assets acquired that could not be individually identified and separately recognized. Our above-described goodwill is not 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 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, andthe 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.