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Amtrak Agreement
6 Months Ended
Jun. 30, 2014
Text Block [Abstract]  
Amtrak Agreement
7. Amtrak Agreement

On April 4, 2012, the Company and National Railroad Passenger Corporation (“Amtrak”) entered into the 2012 Settlement and Amendment Agreement (the “2012 Agreement”) which settles certain disputes between the parties and amends, in part, both an Agreement dated January 3, 1978 (the “1978 Agreement”) and an Agreement dated July 9, 1979 by and between Amtrak and the Company. Under the 1978 Agreement, Amtrak obtained the right to remove certain Company trackage subject to the requirement of providing replacement facilities.

 

Pursuant to the Agreement, the Company received a credit for mileage travelled along the Northeast Corridor. The Company will recognize the expense offset relative to Track Usage Fees as the expenses are incurred. As such, the Company did not record any related assets or liabilities relative to the mileage credit at the date of the settlement. The Company has recorded the following offsets to Track Usage expense and has the following track mileage credit remaining:

 

     Three Months Ended      Six Months Ended  
     June 30,      June 30,  
     2014      2013      2014      2013  

Mileage credit available, beginning

   $ 1,115       $ 1,890       $ 1,200       $ 1,994   

Utilized

     210         201         295         305   
  

 

 

    

 

 

    

 

 

    

 

 

 

Mileage credit available, ending

   $ 905       $ 1,689       $ 905       $ 1,689