XML 52 R35.htm IDEA: XBRL DOCUMENT v3.7.0.1
Equity and EPS (Tables)
12 Months Ended
Dec. 31, 2016
Equity [Abstract]  
Dividends Declared
Dividend and Dividend Equivalent information by quarter for 2016, 2015, and 2014 is detailed below:
Dividend and Dividend Equivalent Information (per Share and Unit)
Declaration date
 
Payment date
 
Declared
 
Paid
 
Total payment
2016
 
 
 
 
 
 
 
 
March 7, 2016
 
April 14, 2016
 
$
0.08

 
$
0.08

 
$
1,378

August 1, 2016
 
September 8, 2016
 
0.02

 
0.02

 
344

October 31, 2016
 
December 8, 2016
 
0.02

 
0.02

 
344

 
 
 
 
$
0.12

 
$
0.12

 
$
2,066

2015
 
 
 
 
 
 
 
 
March 10, 2015
 
April 21, 2015
 
$
0.06

 
$
0.06

 
$
1,087

2014
 
 
 
 
 
 
 
 
February 28, 2014
 
April 9, 2014
 
$
0.05

 
$
0.05

 
$
907


See Note 18 for a dividend declaration made in 2017.

Schedule of Earnings Per Share, Basic and Diluted
The computations of basic and diluted EPS is as follows:

Year Ended December 31,
 
2016
 
2015
 
2014
Operations:
 
 
 
 


Net income(a)
$
31,184

 
$
26,191

 
$
23,675

Less: Income attributable to participating securities (unvested shares and units) (b)
954

 
873

 
832

Net income attributable to common shareholders
$
30,230

 
$
25,318

 
$
22,843


 
 
 
 
 
Share information:
 
 
 
 
 
Basic weighted average common shares(c)
16,643,811

 
17,123,556

 
17,305,866

Incremental shares from potential dilutive securities (d)

 

 

Diluted weighted average common shares
16,643,811

 
17,123,556

 
17,305,866


 
 
 
 


Basic and diluted EPS(e)
$
1.82


$
1.48


$
1.32


(a) 
Net income attributable to all shareholders.
(b) 
Participating securities include 0, 128,500, and 278,900 unvested restricted stock for the years ended December 31, 2016, 2015, and 2014, as well as 527,486, 437,946, and 413,288 RSUs for the years ended December 31, 2016, 2015, and 2014, respectively. Participating securities do not receive an allocation in periods when a loss is experienced.
(c) 
Under the two class method, basic weighted average common shares exclude outstanding unvested participating securities consisting of restricted stock awards of 0, 128,500, and 278,900 for 2016, 2015, and 2014, respectively.
(d) 
Potential dilutive securities have not been included in the EPS computation in a period when a loss is experienced. At December 31, 2016 and 2015, the Company had 0 stock options outstanding and potentially dilutive, respectively. At December 31, 2014, the Company had 4,000 stock options outstanding and potentially dilutive.
(e) 
Basic and diluted weighted average common shares for 2016 and 2015 were affected by the September 1, 2015, purchase of 950,000 shares of common stock in a privately negotiated transaction with F2 SEA, Inc., an affiliate of SEACOR Holdings, Inc., pursuant to a Stock Repurchase Agreement. SEACOR Holdings, Inc. is the 70 percent owner of ICP, the Company's 30 percent equity method investment.

Schedule of Accumulated Other Comprehensive Income (Loss)
Changes in Accumulated Other Comprehensive Income (Loss) by Component


Pension Plan Items
(a) 
Post-Employment Benefit Plan Items

Equity Method Investment Translation Adjustment and Post-Employment Benefit Adjustment

Total
Balance, December 31, 2013

$
(377
)

$
390


$
(17
)

$
(4
)
   Other comprehensive income (loss) before reclassifications
 
218

 
(1,620
)
 
(15
)
 
(1,417
)
Amounts reclassified from accumulated other comprehensive income
 
(85
)
 
774

 

 
689

Net 2014 other comprehensive income (loss)
 
133


(846
)

(15
)

(728
)
Balance, December 31, 2014
 
$
(244
)

$
(456
)

$
(32
)

$
(732
)
   Other comprehensive income (loss) before reclassifications
 
(355
)
 
47

 
(10
)
 
(318
)
Amounts reclassified from accumulated other comprehensive income
 
599

 
(101
)
 
52

 
550

Net 2015 other comprehensive income (loss)
 
244

 
(54
)
 
42

 
232

Balance, December 31, 2015
 
$

 
$
(510
)
 
$
10

 
$
(500
)
   Other comprehensive income (loss) before reclassifications
 

 
113

 
(14
)
 
99

Amounts reclassified from accumulated other comprehensive income
 

 
21

 
7

 
28

Net 2016 other comprehensive income (loss)
 

 
134

 
(7
)
 
127

Balance, December 31, 2016
 
$

 
$
(376
)
 
$
3

 
$
(373
)
Reclassification out of Accumulated Other Comprehensive Income
Reclassifications Out of Accumulated Other Comprehensive Income (Loss)
Details about Accumulated Other Comprehensive Income Components
 
Amounts Reclassified from Accumulated Other Comprehensive Income (Loss)
 
Affected Line Item in the Consolidated Statements of Income
Post Employment Benefit Items:
 
 
 
 
      Amortization of prior service cost
 
$
(338
)
 
(a) 
      Recognized net actuarial loss
 
269

 
(a) 
 
 
(69
)
 
Total before tax
 
 
90

 
Tax expense
 
 
$
21

 
Net of tax
Equity Method Investment Adjustment:
 
 
 
 
     Accumulated postretirement benefit obligation
 
$
13

 
 
 
 
(6
)
 
Tax benefit
 
 
$
7

 
Net of tax
Reclassifications for 2016
 
$
28

 
Total net of tax

(a) 
These accumulated other comprehensive income components are included in the computation of net period post-employment benefit cost. See Note 9 for additional details.