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SEGMENT DATA
9 Months Ended
Sep. 30, 2015
SEGMENT DATA [Abstract]  
SEGMENT DATA
(7)SEGMENT DATA

The Company’s operations are classified into two reportable business segments as follows:

Marine Transportation — Provides marine transportation principally by United States flag vessels of liquid cargoes throughout the United States inland waterway system, along all three United States coasts, in Alaska and Hawaii and, to a lesser extent, in United States coastal transportation of dry-bulk cargoes. The principal products transported include petrochemicals, black oil, refined petroleum products and agricultural chemicals.

Diesel Engine Services — Provides after-market services for medium-speed and high-speed diesel engines, reduction gears and ancillary products for marine and power generation applications, distributes and services high-speed diesel engines, transmissions, pumps and compression products, and manufactures and remanufactures oilfield service equipment, including pressure pumping units, for the land-based pressure pumping and oilfield services market.

The Company’s two reportable business segments are managed separately based on fundamental differences in their operations. The Company evaluates the performance of its segments based on the contributions to operating income of the respective segments, and before income taxes, interest, gains or losses on disposition of assets, other nonoperating income, noncontrolling interests, accounting changes, and nonrecurring items. Intersegment sales for the three months and nine months ended September 30, 2015 and 2014 were not significant.
 
The following table sets forth the Company’s revenues and profit or loss by reportable segment for the three months and nine months ended September 30, 2015 and 2014 and total assets as of September 30, 2015 and December 31, 2014 (in thousands):

  
Three months ended
September 30,
  
Nine months ended
September 30,
 
  
2015
  
2014
  
2015
  
2014
 
Revenues:
        
Marine transportation
 
$
418,343
  
$
448,744
  
$
1,263,301
  
$
1,341,260
 
Diesel engine services
  
114,222
   
231,977
   
400,093
   
556,761
 
  
$
532,565
  
$
680,721
  
$
1,663,394
  
$
1,898,021
 
Segment profit (loss):
                
Marine transportation
 
$
93,650
  
$
112,141
  
$
286,930
  
$
325,660
 
Diesel engine services
  
5,611
   
20,027
   
19,385
   
47,136
 
Other
  
(8,638
)
  
(9,240
)
  
(24,718
)
  
(27,189
)
  
$
90,623
  
$
122,928
  
$
281,597
  
$
345,607
 

  
September 30,
2015
  
December 31,
2014
 
Total assets:
    
Marine transportation
 
$
3,443,971
  
$
3,317,696
 
Diesel engine services
  
674,187
   
736,129
 
Other
  
47,781
   
88,084
 
  
$
4,165,939
  
$
4,141,909
 
 
On September 30, 2015, the Company signed an asset purchase agreement to sell substantially all of the net assets of UE Compression LLC (“UEC”), a subsidiary of the Company that is a manufacturer and packager of custom compression systems.   The transaction closed in the 2015 fourth quarter.   The sales price is subject to post-closing adjustments and is approximately equal to the book value of the net assets to be sold.
 
The assets and liabilities to be sold have been classified as held for sale as of September 30, 2015 and are part of the diesel engine services segment.   As of September 30, 2015, assets held for sale of $18,415,000 are classified as part of prepaid expenses and other current assets and liabilities held for sale of $6,158,000 are classified as part of accrued liabilities.
 
The following table presents the details of “Other” segment loss for the three months and nine months ended September 30, 2015 and 2014 (in thousands):

  
Three months ended
September 30,
  
Nine months ended
September 30,
 
  
2015
  
2014
  
2015
  
2014
 
General corporate expenses
 
$
(3,811
)
 
$
(4,089
)
 
$
(11,285
)
 
$
(11,416
)
Gain (loss) on disposition of assets
  
(400
)
  
47
   
1,246
   
625
 
Interest expense
  
(4,449
)
  
(5,225
)
  
(14,458
)
  
(16,312
)
Other income (expense)
  
22
   
27
   
(221
)
  
(86
)
  
$
(8,638
)
 
$
(9,240
)
 
$
(24,718
)
 
$
(27,189
)
 
The following table presents the details of “Other” total assets as of September 30, 2015 and December 31, 2014 (in thousands):
 
  
September 30,
2015
  
December 31,
2014
 
General corporate assets
 
$
45,812
  
$
85,545
 
Investment in affiliates
  
1,969
   
2,539
 
  
$
47,781
  
$
88,084