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Amtrak Agreement
6 Months Ended
Jun. 30, 2016
Agreement With Related Party [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.

Pursuant to the Agreement, the Company received a credit for mileage travelled along the Northeast Corridor.  The Company recognized the expense offset relative to Track Usage Fees as the expenses were 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. No credits remained outstanding as of June 30, 2016.

 

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

June 30,

 

 

June 30,

 

 

 

2016

 

 

2015

 

 

2016

 

 

2015

 

Mileage credit available

 

$

-

 

 

$

288

 

 

$

-

 

 

$

418

 

Utilized

 

 

-

 

 

 

288

 

 

 

-

 

 

 

418

 

Mileage credit remaining

 

$

-

 

 

$

-

 

 

$

-

 

 

$

-