Quarterly report pursuant to Section 13 or 15(d)

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

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Investments, At Equity, And Advances To 50% Or Less Owned Companies
9 Months Ended
Sep. 30, 2016
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
Falcon Global. Falcon Global was formed to construct and operate foreign-flag liftboats. During the nine months ended September 30, 2016, the Company and its partner each contributed additional capital of $6.8 million in cash.
OSV Partners. OSV Partners owns and operates offshore support vessels. During the nine months ended September 30, 2016, the Company contributed additional capital of $1.2 million in cash. In addition, during the nine months ended September 30, 2016, equity in losses of 50% or less owned companies, net of tax, includes $1.0 million related to the Company’s proportionate share of impairment charges associated with OSV Partners’ fleet.
Other Offshore Marine Services. During the nine months ended September 30, 2016, the Company made capital contributions of $0.2 million and received dividends of $0.4 million from its other 50% or less owned companies. During the nine months ended September 30, 2016, equity in losses of 50% or less owned companies, net of tax, included $2.7 million for the Company’s proportionate share of impairment charges associated with its joint ventured fleet and $0.3 million for an other-than-temporary decline in the fair value of one of its investments in a 50% or less owned company.
SCFCo. SCFCo was established to operate inland river towboats and inland river dry-cargo barges on the Parana-Paraguay Rivers in South America and a terminal facility at Port Ibicuy, Argentina. During the nine months ended September 30, 2016, the Company and its partner each contributed additional capital of $0.8 million in cash. As of September 30, 2016, the Company had outstanding loans and working capital advances to SCFCo of $27.6 million.
SEA-Access. SEA-Access owned and operated a U.S.-flag crude oil tanker that was sold for scrap during the nine months ended September 30, 2016. During the nine months ended September 30, 2016, the Company received dividends of $2.0 million and capital distributions of $8.4 million.
SeaJon. SeaJon owns an articulated tug-barge operating in the Great Lakes trade. During the nine months ended September 30, 2016, the Company received dividends of $0.6 million.
Avion. Avion is a distributor of aircraft and aircraft related parts. During the nine months ended September 30, 2016, the Company made advances of $3.0 million. As of September 30, 2016, the Company had $3.0 million of outstanding loans to Avion.
VA&E. VA&E primarily focuses on the global origination, trading and merchandising of sugar, pairing producers and buyers and arranging for the transportation and logistics of the product. The Company provides an unsecured revolving credit facility to VA&E for up to $6.0 million, a term loan of $1.1 million and a subordinated loan of $1.0 million. During the nine months ended September 30, 2016, VA&E borrowed $10.0 million and repaid $8.9 million on the revolving credit facility. As of September 30, 2016, the Company had outstanding advances of $8.3 million.
Other. During the nine months ended September 30, 2016, the Company made capital contributions and advances of $0.6 million to other 50% or less owned companies.
Guarantees. The Company has guaranteed the payment of amounts owed under a vessel charter, a construction contract and banking facilities by certain of its 50% or less owned companies. As of September 30, 2016, the total amount guaranteed by the Company under these arrangements was $83.4 million. In addition, as of September 30, 2016, the Company had uncalled capital commitments to two of its 50% or less owned companies totaling $1.8 million.