Long-Term Debt and Capital Lease Obligations

6 Months Ended

Jun. 30, 2013

Long-term Debt and Capital Lease Obligations [Abstract]

Long-Term Debt and Capital Lease Obligations

LONG-TERM DEBT AND CAPITAL LEASE OBLIGATIONS

As of June 30, 2013, the remaining availability under the SEACOR revolving credit facility was $359.0 million, net of issued letters of credit of $1.0 million. In addition, as of June 30, 2013, the Company had other outstanding letters of credit totaling $27.1 million with various expiration dates through 2016.

During the six months ended June 30, 2013, the Company made scheduled payments on other long-term debt and capital lease obligations of $10.0 million and made net repayments of $2.4 million under inventory financing arrangements.

SEACOR’s Board of Directors has previously authorized the Company to purchase any or all of its 7.375% Senior Notes due 2019, which may be acquired through open market purchases, privately negotiated transactions or otherwise, depending on market conditions. During the six months ended June 30, 2013, the Company did not repurchase any of its 7.375% Senior Notes due 2019.