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Investments (Tables)
 6 Months Ended
Jun. 30, 2015
Investments, Debt and Equity Securities [Abstract]  
Marketable Securities
The Company's portfolio of marketable securities was as follows:
 
June 30, 2015
 
December 31, 2014
 
Cost
 
Gross Unrealized Gains
 
Gross Unrealized Losses
 
Fair value
 
Cost
 
Gross Unrealized Gains
 
Gross Unrealized Losses
 
Fair value
Available for sale securities
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Short-term deposits
$
39,697

 
$
—

 
$
—

 
$
39,697

 
$
42,681

 
$
—

 
$
—

 
$
42,681

Mutual funds
11,835

 
4,526

 
—

 
16,361

 
17,030

 
4,262

 
(322
)
 
20,970

Equity securities
64,703

 
7,636

 
(2,499
)
 
69,840

 
103,761

 
7,821

 
(23,732
)
 
87,850

Corporate obligations
35,205

 
659

 
(1,566
)
 
34,298

 
32,486

 
592

 
(3,441
)
 
29,637

Total marketable securities
151,440

 
12,821

 
(4,065
)
 
160,196

 
195,958

 
12,675

 
(27,495
)
 
181,138

Amounts classified as cash equivalents
(39,697
)
 
—

 
—

 
(39,697
)
 
(42,681
)
 
—

 
—

 
(42,681
)
Amounts classified as marketable securities
$
111,743

 
$
12,821

 
$
(4,065
)
 
$
120,499

 
$
153,277

 
$
12,675

 
$
(27,495
)
 
$
138,457
Unrealized Gain (Loss) on Investments
Gross realized gains and losses from sales of marketable securities, all of which are reported as a component of Other income, net in the Consolidated Statements of Operations, were as follows:
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2015
 
2014
 
2015
 
2014
Gross realized gains
$
3,410

 
$
3,196

 
$
4,600

 
$
6,396

Gross realized losses
(418
)
 
(1,120
)
 
(793
)
 
(1,329
)
   Realized gains, net
$
2,992

 
$
2,076

 
$
3,807

 
$
5,067
Schedule of Unrealized Loss on Investments
The fair value of marketable securities with unrealized losses at June 30, 2015, and the duration of time such losses had been unrealized were as follows:
 
Less Than 12 Months
 
12 Months or Greater
 
Total
 
Fair Value
 
Gross Unrealized Losses
 
Fair Value
 
Gross Unrealized Losses
 
Fair Value
 
Gross Unrealized Losses
Corporate securities
$
18,790

 
$
(2,499
)
 
$
—

 
$
—

 
$
18,790

 
$
(2,499
)
Corporate obligations
8,507

 
(1,412
)
 
4,692

 
(154
)
 
13,199

 
(1,566
)
    Total
$
27,297

 
$
(3,911
)
 
$
4,692

 
$
(154
)
 
$
31,989

 
$
(4,065
)

    





    
    



The fair value of marketable securities with unrealized losses at December 31, 2014, all of which had unrealized losses for periods of less than twelve months were as follows:
 
Fair Value
 
Gross Unrealized Losses
Corporate securities
$
39,869

 
$
(23,732
)
Corporate obligations
13,530

 
(3,441
)
Mutual funds
4,873

 
(322
)
    Total
$
58,272

 
$
(27,495
)
Available-for-sale Securities
The amortized cost and estimated fair value of available-for-sale debt securities and marketable securities with no contractual maturities as of June 30, 2015, by contractual maturity, were as follows:
 
Cost
 
Estimated Fair Value
Mature in one year or less
$
—

 
$
—

Mature after one year through three years
—

 
—

Mature after three years
35,205

 
34,298

  Total debt securities
35,205

 
34,298

Securities with no contractual maturities
116,235

 
125,898

 
$
151,440

 
$
160,196
Schedule of Available-for-sale Securities and Equity Method Investments
The following table summarizes the Company's long-term investments as of June 30, 2015 and December 31, 2014. For those investments at fair value, the carrying amount of the investment equals its respective fair value.
 
 
 
 
Investment Balance
 
Income (Loss) Recorded in Statement of Operations
 
 
 
 
 
 
 
Three Months Ended June 30,
 
Six Months Ended June 30,
(A) AVAILABLE-FOR-SALE SECURITIES
 
 
 
June 30, 2015
December 31, 2014
 
2015
 
2014
 
2015
 
2014
   Fair Value Changes Recorded in Accumulated Other Comprehensive Income:
 
 
 
 
 
 
 
 
 
 
 
 
 
     Equity securities - U.S. (1)
 
 
 
 
 
 
 
 
 
 
 
 
 
       Aerospace/Defense
 
 
 
$
86,170

$
76,512

 
 
 
 
 
 
 
 
       Restaurants
 
 
 
—

35,637

 
 
 
 
 
 
 
 
       Manufacturing
 
 
 
431

—

 
 
 
 
 
 
 
 
       Other
 
 
 
569

572

 
 
 
 
 
 
 
 
 
 
 
 
87,170

112,721

 
 
 
 
 
 
 
 
   Fair Value Changes Recorded in Consolidated Statement of Operations:
 
 
 
 
 
 
 
 
 
 
 
 
 
       API (1)
 
 
 
—

18,373

 
$
—

 
$
159

 
$
4,450

 
$
160

 
 
 
 
87,170

131,094

 
$
—

 
$
159

 
$
4,450

 
$
160

(B) EQUITY METHOD INVESTMENTS
 
 
 
 
 
 
 
 
 
 
 
 
 
  Investments in Associated Companies:
June 30, 2015
December 31, 2014
 
 
 
 
 
 
 
 
 
 
 
    At Cost:
Ownership
 
 
 
 
 
 
 
 
 
 
 
       CoSine
80.6
%
48.3
%
 
—

5,521

 
$
—

 
$
(80
)
 
$
(602
)
 
$
(206
)
       Other (5)
 
 
 
6,805

5,705

 
(149
)
 
(665
)
 
(286
)
 
(2,098
)
    At Fair Value:
 
 
 
 
 
 
 
 
 
 
 
 
 
  ModusLink Global Solutions, Inc. ("MLNK") (1)
31.5
%
27.7
%
 
56,865

54,086

 
(5,779
)
 
(5,182
)
 
(4,053
)
 
(22,460
)
       SL Industries, Inc. ("SLI") (1)
25.3
%
24.0
%
 
38,411

38,799

 
(4,119
)
 
4,915

 
(388
)
 
2,388

       JPS Industries, Inc. ("JPS") (1)
38.7
%
38.7
%
 
43,835

38,406

 
3,660

 
(201
)
 
5,429

 
3,016

   API Technologies Corp. ("API Tech") (1)
20.6
%
20.6
%
 
28,700

24,355

 
5,031

 
3,539

 
4,345

 
3,539

       Aviat Networks, Inc. ("Aviat") (1)
12.9
%
—
%
 
10,134

—

 
563

 
—

 
(724
)
 
—

       Other (2)
43.8
%
43.8
%
 
2,271

2,163

 
(27
)
 
(51
)
 
108

 
(162
)
 
 
 
 
187,021

169,035


$
(820
)

$
2,275


$
3,829


$
(15,983
)
  Other Investments at Fair Value - Related Party:
 
 
 
 
 
 
 
 
 
 
 
 
 
    SPII Liquidating Trust - Series D ( Fox & Hound) (3)
 
 
 
—

—

 
$
—

 
$
(3
)
 
$
—

 
$
(3
)
  SPII Liquidating Trust - Series G (SPCA) (2), (3)
 
 
 
—

6,811

 
(36
)
 
558

 
447

 
456

  SPII Liquidating Trust - Series H (SPJSF) (2), (4)
 
 
 
—

2,812

 
(2
)
 
920

 
(86
)
 
1,020

 
 
 
 
—

9,623

 
$
(38
)
 
$
1,475

 
$
361

 
$
1,473

 (C) OTHER INVESTMENTS
 
 
 
 
 
 
 
 
 
 
 
 
 
     ModusLink Warrants (2)
 
 
 
1,636

2,199

 
$
(527
)
 
$
(951
)
 
$
(564
)
 
$
(3,398
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total Long-Term Investments
 
 
 
$
275,827

$
311,951

 
 
 
 
 
 
 
 
(1) Level 1 investment. Equity securities totaling $87,170 and $112,721 were classified as Level 1 investments as of June 30, 2015 and December 31, 2014, respectively.
(2) Level 3 investment. For additional information related to the Company's Level 3 investments, see Note 5 - "Fair Value Measurements."
(3) Steel Partners China Access I L.P. Trust H was liquidated during the first quarter of 2015.
(4) Steel Partners Japan Strategic Fund, L.P. Trust G was liquidated during the second quarter of 2015.
(5) Represents Steel Excel's investments in a sports business and iGo, Inc. ("iGo") of 40.0% and 46.9%, respectively and a 50% investment in API Optix s.r.o ("API Optix"), a joint venture investment held by CoSine's API subsidiary.

Schedule of Activity of Available-for-sale Securities and Equity Method Investments
The following table presents activity for the available-for-sale securities presented in the table above for the three and six months ended June 30, 2015 and 2014:
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2015
 
2014
 
2015
 
2014
(A) AVAILABLE-FOR-SALE SECURITIES
 
 
 
 
 
 
 
   Fair Value Changes Recorded in Accumulated Other Comprehensive (Loss) Income:
 
 
 
 
 
 
 
     Proceeds from sales
$
—

 
$
468

 
$
—

 
$
468

     Gross gains from sales
$
—

 
$
31

 
$
—

 
$
31

     Gross losses from sales
—

 
—

 
—

 
—

       Net investment gain
$
—

 
$
31

 
$
—

 
$
31

  Change in net unrealized holding (losses) gains included in Accumulated other comprehensive (loss) income
$
(10,830
)
 
$
5,719

 
$
9,651

 
$
6,240

Reclassified out of Accumulated other comprehensive (loss) income :
 
 
 
 
 
 
 
   Unrealized gains
$
7,185

 
$
86

 
$
29,663

 
$
86

   Unrealized losses
—

 
—

 
—

 
—

     Total
$
7,185

 
$
86

 
$
29,663

 
$
86
Schedule of Unrealized Gains and Losses on Investments
The cost basis and unrealized gains and losses related to our available-for-sale securities which are classified as long-term investments are as follows:
 
June 30, 2015
 
December 31, 2014
 
Cost
Gross Unrealized Gains
Gross Unrealized Losses
Fair Value
 
Cost
Gross Unrealized Gains
Gross Unrealized Losses
Fair Value
Aerospace/Defense
$
11,675

$
74,495

$
—

$
86,170

 
$
11,675

$
64,837

$
—

$
76,512

Restaurants
—

—

—

—

 
5,974

29,663

—

35,637

Manufacturing
435

—

(4
)
431

 
—

—

—

—

Other
575

—

(6
)
569

 
575

—

(3
)
572

 
$
12,685

$
74,495

$
(10
)
$
87,170

 
$
18,224

$
94,500

$
(3
)
$
112,721
Schedule of Additional Disclosures of Associated Companies
This summary data may be derived from unaudited financial statements and may contain a lag.
 
June 30, 2015
 
December 31, 2014
 
 
 
 
Summary of balance sheet amounts:
 
 
 
 
 
 
 
Current assets
$
589,652

 
$
556,571

 
 
 
 
Noncurrent assets
139,934

 
160,202

 
 
 
 
Total assets
$
729,586

 
$
716,773

 
 
 
 
Current liabilities
$
294,784

 
$
257,559

 
 
 
 
Noncurrent liabilities
114,358

 
113,217

 
 
 
 
Total liabilities
409,142

 
370,776

 
 
 
 
Parent equity
320,444

 
345,997

 
 
 
 
Total liabilities and equity
$
729,586

 
$
716,773

 
 
 
 
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2015
 
2014
 
2015
 
2014
Summary income statement amounts:
 
 
 
 
 
 
 
Revenue
$
197,805

 
$
269,715

 
$
418,872

 
$
553,114

Gross profit
32,339

 
40,714

 
63,527

 
87,789

Loss from continuing operations
(8,146
)
 
(5,049
)
 
(6,256
)
 
(3,204
)
Net (loss) income after noncontrolling interests
(8,308
)
 
2,721

 
(1,313
)
 
5,170
Schedule of Equity Method Investments
The following tables provide combined summarized data with respect to the other investments - related party accounted for under the equity method, at fair value:
 
June 30, 2015
 
December 31, 2014
 
 
 
 
Summary of balance sheet amounts:
 
 
 
 
 
 
 
Total assets
$
943

 
$
21,966

 
 
 
 
Total liabilities
(943
)
 
—

 
 
 
 
Net Asset Value
$
—

 
$
21,966

 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2015
 
2014
 
2015
 
2014
Summary income statement amounts:
 
 
 
 
 
 
 
Net (decrease) increase in net assets from operations
$
(53
)
 
$
3,246

 
$
826

 
$
3,254