Equipment Acquisitions, Dispositions and Depreciation and Impairment Policies Equipment Acquisitions, Dispositions and Depreciation and Impairment Policies (Notes)
|9 Months Ended|
Sep. 30, 2016
|Property, Plant and Equipment [Abstract]|
|Property, Plant and Equipment Disclosure [Text Block]||
EQUIPMENT ACQUISITIONS AND DISPOSITIONS
During the nine months ended September 30, 2016, capital expenditures were $294.1 million. Equipment deliveries during the nine months ended September 30, 2016 included twelve fast support vessels, one supply vessel, two wind farm utility vessels, two inland river towboats, twelve inland river dry-cargo barges and two U.S.-flag product tankers. In addition, the Company received one U.S.-flag harbor tug as partial consideration for the sale of certain Inland River Services equipment as described below.
During the nine months ended September 30, 2016, the Company sold one mini-supply vessel, four standby safety vessels, one supply vessel, 20 30,000 barrel inland river liquid tank barges, the rights to eight leased-in 30,000 barrel inland river liquid tank barges, 14 inland river towboats, one U.S.-flag product tanker, one U.S.-flag harbor tug and other property and equipment for net proceeds of $156.1 million ($146.1 million in cash, $8.0 million in seller financing and one U.S.-flag harbor tug valued at $2.0 million) and gains of $11.4 million, of which $2.4 million were recognized currently and $9.0 million were deferred (see Note 1). In addition, the Company recognized previously deferred gains of $1.9 million. Equipment dispositions included one 30,000 barrel inland river liquid tank barge currently under construction and the sale-leaseback of one U.S.-flag product tanker for $61.0 million with a leaseback term of 76 months. The Company also received $0.1 million of deposits on future equipment sales.
The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.
Reference 1: http://www.xbrl.org/2003/role/presentationRef