Quarterly report pursuant to Section 13 or 15(d)

Noncontrolling Interests in Subsidiaries

v3.19.1
Noncontrolling Interests in Subsidiaries
3 Months Ended
Mar. 31, 2019
Noncontrolling Interest [Abstract]  
Noncontrolling Interests in Subsidiaries
8. NONCONTROLLING INTERESTS IN SUBSIDIARIES
Noncontrolling interests in the Company’s consolidated subsidiaries were as follows (in thousands):
 
Noncontrolling Interests
 
March 31, 2019
 
December 31, 2018
Ocean Services:
 
 
 
 
 
 
 
SEA-Vista
49%
 
$
163,828

 
$
148,665

Inland Services:
 
 
 
 
 
 
 
Other
3.0
%
51.8%
 
870

 
862

Other
5.0%
 
5

 
161

 
 
 
 
 
$
164,703

 
$
149,688


SEA-Vista. SEA-Vista owns and operates the Company’s fleet of U.S.-flag petroleum and chemical carriers used in the U.S. coastwise trade of crude oil, petroleum and specialty chemical products. As of March 31, 2019, the net assets of SEA-Vista were $334.3 million. During the three months ended March 31, 2019, the net income of SEA-Vista was $10.9 million, of which $5.3 million was attributable to noncontrolling interests. During the three months ended March 31, 2018, the net income of SEA-Vista was $10.0 million, of which $4.9 million was attributable to noncontrolling interests.