Income Taxes (Tables)

12 Months Ended

Dec. 31, 2015

Income Taxes [Abstract]

Components of Net Deferred Tax Asset (Liability)

(All Amounts in Thousands)
		2015		2014
DEFERRED TAX LIABILITIES
Fixed Assets	$	(3,853)	$	(12,376)
Drydock Activities		(4,604)		(5,275)
Insurance and Claims Reserve		(339)		(228)
Deferred Gain		(10,993)		-
Unremitted Foreign Earnings		(5,329)		-
Total Deferred Tax Liabilities	$	(25,118)	$	(17,879)
DEFERRED TAX ASSETS
Net Operating Loss Carryforwards	$	22,036	$	17,753
Minimum Tax Credit		5,425		5,179
Deferred Gain		-		1,973
Pension/Postretirement		2,140		2,500
Intangibles/Goodwill		10,163		1,285
Stock Based Compensation		312		-
Unconsolidated Subsidiaries		520		383
Work Opportunity Tax Credit		537		537
Lease Incentives		835		503
Assets Held for Sale		780		931
Other Assets		863		771
Total Deferred Tax Assets	$	43,611	$	31,815
Valuation Allowance		(18,493)		(13,936)
Net Deferred Tax Assets	$	25,118	$	17,879
TOTAL DEFERRED TAX	$	-	$	-
DEFERRED TAX COMPONENTS
Current	$	309	$	408
Non-current		(309)		(408)
TOTAL DEFERRED TAX	$	-	$	-

Components Of Income Before Provision (Benefit) For Income Taxes And Equity In Net (Loss) Income Of Unconsolidated Entities

(All Amounts in Thousands)
		2015		2014
Domestic	$	(72,525)	$	(5,209)
Foreign		(102,680)		(39,071)
Total	$	(175,205)	$	(44,280)

Components Of Income Tax Provision (Benefit)

(All Amounts in Thousands)
		2015		2014
Current	$	439	$	79
Deferred		-		10,350
Total	$	439	$	10,429

Reconciliation of U.S. Statutory Tax Rate

	2015		2014
Statutory Rate	35.0	%	35.0	%
State Income Taxes	(0.1)		(0.2)
Effect of Tonnage Tax Rate	0.5		(1.0)
Foreign Earnings - Indefinitely Reinvested	-		(30.9)
Foreign Earnings	(20.5)		-
Change in Valuation Allowance	(15.0)		(26.5)
Permanent Differences and Other, Primarily Non-deductible Expenditures	(0.2)		-
Effective Tax Rate	(0.3)	%	(23.6)	%

Unrecognized Tax Benefits

(All Amounts in Thousands)
		2015		2014
Total unrecognized tax benefits as of: January 1,	$	250	$	349
Increases in unrecognized tax benefits as a result of:
Tax positions taken during a prior year		(250)		(99)
Lapse of applicable statute of limitations		-		-
Total unrecognized tax benefits as of:  December 31,	$	-	$	250