MATERIAL CHARGES AND OTHER OPERATING EXPENSES	12 Months Ended
Dec. 31, 2012
MATERIAL CHARGES AND OTHER OPERATING EXPENSES [Abstract]
MATERIAL CHARGES AND OTHER OPERATING EXPENSES	NOTE 13 – MATERIAL CHARGES AND OTHER OPERATING EXPENSES Operating expenses in 2012 included $13.8 million of legal and consulting fees incurred in connection with the Company's redomestication, $12.0 million of repair costs for the EXL I following its collision with a tanker, $8.7 million of pension settlement costs in connection with lump sum pension payments to employees of the Company's former manufacturing subsidiary, $8.1 million of noncash asset impairment charges, $2.3 million of incremental noncash share-based compensation cost in connection with the retirement of an employee, partially offset by a $4.7 million gain for cash received in connection with the settlement of a 2005 dispute with a customer. Operating expenses in 2011 included a $6.1 million charge for the settlement of litigation with Textron relating to the loss of the Rowan Halifax in 2005 and $4.9 million of incremental noncash and cash compensation cost in connection with the separation of an employee. Operating expenses in 2010 included a $5.3 million charge for the expected cost of terminating the Company's agency agreement in Mexico.

NOTE 13 – MATERIAL CHARGES AND OTHER OPERATING EXPENSES

Operating expenses in 2012 included $13.8 million of legal and consulting fees incurred in connection with the Company's redomestication, $12.0 million of repair costs for the EXL I following its collision with a tanker, $8.7 million of pension settlement costs in connection with lump sum pension payments to employees of the Company's former manufacturing subsidiary, $8.1 million of noncash asset impairment charges, $2.3 million of incremental noncash share-based compensation cost in connection with the retirement of an employee, partially offset by a $4.7 million gain for cash received in connection with the settlement of a 2005 dispute with a customer.

Operating expenses in 2011 included a $6.1 million charge for the settlement of litigation with Textron relating to the loss of the Rowan Halifax in 2005 and $4.9 million of incremental noncash and cash compensation cost in connection with the separation of an employee.

Operating expenses in 2010 included a $5.3 million charge for the expected cost of terminating the Company's agency agreement in Mexico.