Segment Information

9 Months Ended

Sep. 30, 2017

Segment Reporting [Abstract]

Segment Information

counting standards require public business enterprises to report information about each of their operating business segments that exceed certain quantitative thresholds or meet certain other reporting requirements. Operating business segments have been defined as components of an enterprise about which separate financial information is available and is evaluated regularly by the chief operating decision maker in deciding how to allocate resources and in assessing performance. Certain reclassifications of prior period information have been made to conform the current period’s reportable segment presentation as a result of the Company’s presentation of discontinued operations (see Notes 1 and 15). The Company’s basis of measurement of segment profit or loss is as previously defined in the Company’s Annual report on Form 10-K for the year ended December 31, 2016.

The following tables summarize the operating results, capital expenditures and assets of the Company’s reportable segments.

	Inland River Services $’000		Shipping Services $’000	Witt O’Brien’s $’000	Other $’000		Corporate and Eliminations $’000		Total $’000
For the three months ended September 30, 2017
Operating Revenues:
External customers	44,608		103,780	9,667	116		—		158,171
Intersegment	—		—	14	—		(14	)	—
	44,608		103,780	9,681	116		(14	)	158,171
Costs and Expenses:
Operating	35,388		65,866	6,068	—		(64	)	107,258
Administrative and general	3,141		9,612	2,960	180		4,638		20,531
Depreciation and amortization	6,329		13,516	206	—		450		20,501
	44,858		88,994	9,234	180		5,024		148,290
Gains on Asset Dispositions, Net	5,136		73	—	—		—		5,209
Operating Income (Loss)	4,886		14,859	447	(64	)	(5,038	)	15,090
Other Income (Expense):
Foreign currency gains (losses), net	992		5	29	(12	)	(45	)	969
Other, net	—		59	—	—		5		64
Equity in Earnings (Losses) of 50% or Less Owned Companies, Net of Tax	(1,235	)	1,493	100	130		—		488
Segment Profit	4,643		16,416	576	54
Other Income (Expense) not included in Segment Profit									(19,229	)
Less Equity Earnings included in Segment Profit									(488	)
Loss Before Taxes, Equity Earnings and Discontinued Operations									(3,106	)

	Inland River Services $’000		Shipping Services $’000		Witt O’Brien’s $’000		Other $’000		Corporate and Eliminations $’000		Total $’000
For the nine months ended September 30, 2017
Operating Revenues:
External customers	124,921		243,442		23,665		348		—		392,376
Intersegment	—		—		85		—		(85	)	—
	124,921		243,442		23,750		348		(85	)	392,376
Costs and Expenses:
Operating	99,859		137,070		15,483		—		(256	)	252,156
Administrative and general	11,658		24,728		8,641		559		23,363		68,949
Depreciation and amortization	19,404		32,792		613		—		1,880		54,689
	130,921		194,590		24,737		559		24,987		375,794
Gains (Losses) on Asset Dispositions and Impairments, Net	11,260		(342	)	—		—		—		10,918
Operating Income (Loss)	5,260		48,510		(987	)	(211	)	(25,072	)	27,500
Other Income (Expense):
Derivative gains, net	—		—		—		—		19,727		19,727
Foreign currency gains (losses), net	730		8		62		(12	)	110		898
Other, net	—		118		—		(300	)	250		68
Equity in Earnings (Losses) of 50% or Less Owned Companies, Net of Tax	(4,877	)	8,150		237		(581	)	—		2,929
Segment Profit (Loss)	1,113		56,786		(688	)	(1,104	)
Other Income (Expense) not included in Segment Profit (Loss)											(37,860	)
Less Equity Earnings included in Segment Profit (Loss)											(2,929	)
Income Before Taxes, Equity Earnings and Discontinued Operations											10,333
Capital Expenditures	32,901		66,137		60		—		208		99,306
As of September 30, 2017
Property and Equipment:
Historical cost	444,582		1,008,093		1,227		—		29,532		1,483,434
Accumulated depreciation	(175,669	)	(290,400	)	(915	)	—		(20,065	)	(487,049	)
	268,913		717,693		312		—		9,467		996,385
Construction in progress	2,177		20,592		—		—		—		22,769
Net property and equipment	271,090		738,285		312		—		9,467		1,019,154
Investments, at Equity, and Advances to 50% or Less Owned Companies	65,738		53,388		782		55,479		—		175,387
Inventories	1,866		2,032		54		—		—		3,952
Goodwill	2,415		1,852		28,506		—		—		32,773
Intangible Assets	10,860		12,285		7,510		—		—		30,655
Other current and long-term assets, excluding cash and near cash assets(1)	54,295		44,845		13,802		1,807		22,251		137,000
Segment Assets	406,264		852,687		50,966		57,286
Cash and near cash assets(1)											384,044
Total Assets											1,782,965

______________________

(1) Cash and near cash assets includes cash, cash equivalents, restricted cash, marketable securities and construction reserve funds.

	Inland River Services $’000		Shipping Services $’000		Witt O’Brien’s $’000		Other $’000		Corporate and Eliminations $’000		Total $’000
For the three months ended September 30, 2016
Operating Revenues:
External customers	41,094		57,350		11,010		116		—		109,570
Intersegment	—		—		20		—		(20	)	—
	41,094		57,350		11,030		116		(20	)	109,570
Costs and Expenses:
Operating	31,496		28,542		6,618		—		(83	)	66,573
Administrative and general	3,982		6,675		3,423		410		6,441		20,931
Depreciation and amortization	6,308		8,216		432		—		908		15,864
	41,786		43,433		10,473		410		7,266		103,368
Gains (Losses) on Asset Dispositions and Impairments, Net	(597	)	3		1		—		—		(593	)
Operating Income (Loss)	(1,289	)	13,920		558		(294	)	(7,286	)	5,609
Other Income (Expense):
Derivative losses, net	—		—		—		—		(862	)	(862	)
Foreign currency gains (losses), net	410		(3	)	(24	)	(1	)	36		418
Other, net	(1	)	(5,534	)	—		—		74		(5,461	)
Equity in Earnings (Losses) of 50% or Less Owned Companies, Net of Tax	(171	)	(551	)	91		(481	)	—		(1,112	)
Segment Profit (Loss)	(1,051	)	7,832		625		(776	)
Other Income (Expense) not included in Segment Profit (Loss)											(14,390	)
Less Equity Losses included in Segment Profit (Loss)											1,112
Loss Before Taxes, Equity Losses and Discontinued Operations											(14,686	)

	Inland River Services $’000		Shipping Services $’000		Witt O’Brien’s $’000		Other $’000		Corporate and Eliminations $’000		Total $’000
For the nine months ended September 30, 2016
Operating Revenues:
External customers	114,522		170,025		29,356		366		—		314,269
Intersegment	—		—		104		—		(104	)	—
	114,522		170,025		29,460		366		(104	)	314,269
Costs and Expenses:
Operating	89,060		86,045		18,850		—		(319	)	193,636
Administrative and general	11,671		20,930		10,871		834		20,662		64,968
Depreciation and amortization	19,699		22,193		1,335		—		2,778		46,005
	120,430		129,168		31,056		834		23,121		304,609
Gains (Losses) on Asset Dispositions and Impairments, Net	2,588		3		(1	)	—		—		2,590
Operating Income (Loss)	(3,320	)	40,860		(1,597	)	(468	)	(23,225	)	12,250
Other Income (Expense):
Derivative losses, net	—		—		—		—		(3,527	)	(3,527	)
Foreign currency gains (losses), net	2,865		(12	)	(124	)	(1	)	84		2,812
Other, net	(5	)	(6,461	)	—		(6,723	)	79		(13,110	)
Equity in Earnings (Losses) of 50% or Less Owned Companies, Net of Tax	(4,626	)	(2,116	)	277		(704	)	—		(7,169	)
Segment Profit (Loss)	(5,086	)	32,271		(1,444	)	(7,896	)
Other Income (Expense) not included in Segment Profit (Loss)											(63,851	)
Less Equity Losses included in Segment Profit (Loss)											7,169
Loss Before Taxes, Equity Losses and Discontinued Operations											(65,426	)
Capital Expenditures	17,629		189,988		—		—		208		207,825
As of September 30, 2016
Property and Equipment:
Historical cost	392,698		592,132		2,829		—		30,711		1,018,370
Accumulated depreciation	(161,023	)	(253,116	)	(2,483	)	—		(17,427	)	(434,049	)
	231,675		339,016		346		—		13,284		584,321
Construction in progress	9,948		328,692		—		—		(1,191	)	337,449
Net property and equipment	241,623		667,708		346		—		12,093		921,770
Investments, at Equity, and Advances to 50% or Less Owned Companies	80,004		57,366		551		60,131		—		198,052
Inventories	2,033		952		237		—		—		3,222
Goodwill	2,427		1,852		48,124		—		—		52,403
Intangible Assets	5,295		—		18,201		—		—		23,496
Other current and long-term assets, excluding cash and near cash assets(1)	55,710		27,508		13,186		15,522		4,384		116,310
Segment Assets	387,092		755,386		80,645		75,653
Cash and near cash assets(1)											473,993
Discontinued Operations											1,164,887
Total Assets											2,954,133

______________________

(1) Cash and near cash assets includes cash, cash equivalents, restricted cash, marketable securities and construction reserve funds.