Investments, At Equity, And Advances To 50% Or Less Owned Companies

6 Months Ended

Jun. 30, 2014

Equity Method Investment, Summarized Financial Information [Abstract]

Investments, At Equity, And Advances To 50% Or Less Owned Companies

INVESTMENTS, AT EQUITY, AND ADVANCES TO 50% OR LESS OWNED COMPANIES

Mexmar. Mexmar operates offshore support vessels in Mexico. During the six months ended June 30, 2014, Mexmar purchased two offshore support vessels from the Company for $32.0 million ($6.4 million in cash and $25.6 million in seller financing). During the six months ended June 30, 2014, Mexmar repaid $2.6 million of the seller financing.

OSV Partners. OSV Partners was formed to own and operate six offshore support vessels. During the six months ended June 30, 2014, the Company contributed additional capital of $1.6 million to fund certain capital acquisitions. During the six months ended June 30, 2014, OSV Partners purchased one offshore support vessel from the Company for $13.5 million in cash.

SCFCo Holdings. SCFCo Holdings was established to operate towboats and dry-cargo barges on the Parana-Paraguay Rivers and a terminal facility at Port Ibicuy, Argentina. During the six months ended June 30, 2014, the Company and its partner each contributed additional capital of $12.2 million. As of June 30, 2014, the Company had outstanding loans to SCFCo Holdings of $3.7 million.

SeaJon. SeaJon owns an articulated tug-barge operating in the Great Lakes trade. During the six months ended June 30, 2014, the Company and its partner each contributed additional capital of $1.3 million to fund certain capital acquisitions.

Avion. Avion is a distributor of aircraft and aircraft related parts. During the six months ended June 30, 2014, Avion repaid $4.0 million of outstanding notes to the Company.

Witt-O'Brien's. Witt-O'Brien's is a global leader in preparedness, crisis management, and disaster response and recovery. During the six months ended June 30, 2014, the Company received distributions of $0.8 million from Witt-O'Brien's. Subsequent to June 30, 2014, the Company acquired a controlling interest in Witt-O'Brien's through the acquisition of its partner's 45.8% equity interest for $35.4 million (see Note 4).

Cleancor. On August 20, 2013, CLEANCOR Energy Solutions LLC ("Cleancor") was established to be a full service solution provider delivering clean fuel to end users. During the six months ended June 30, 2014, the Company contributed capital of $4.8 million to Cleancor to fund its start-up operations and provide capital for future investments.

Other. During the six months ended June 30, 2014, the Company received a capital distribution of $2.1 million from one of Inland River Services' 50% or less owned companies, loaned $0.7 million to one of Offshore Marine Services' 50% or less owned companies and contributed capital of $0.2 million and loaned $0.3 million to certain of its industrial aviation businesses in Asia.

Guarantees. The Company has guaranteed the payment of amounts owed by one of its 50% or less owned companies under a vessel charter and has guaranteed amounts owed under banking facilities by certain of its 50% or less owned companies. As of June 30, 2014, the total amount guaranteed by the Company under these arrangements was $15.3 million. In addition, as of June 30, 2014, the Company had uncalled capital commitments to two of its 50% or less owned companies for a total of $2.4 million. Subsequent to June 30, 2014, the Company's guarantees increased by $19.0 million after certain of the Company's 50% or less owned companies obtained bank financing.