XML 66 R44.htm IDEA: XBRL DOCUMENT v3.8.0.1
ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)
 12 Months Ended
Dec. 31, 2017
Accumulated Other Comprehensive Loss [Abstract]  
Components of Accumulated Other Comprehensive Loss
 
 
Years Ended December 31,
 
 
2017
 
2016
Unrealized losses on derivative instruments
 
$
(112
)
 
$
(1,019
)
Items not yet recognized as a component of net periodic benefit cost (pension and other postretirement benefit plans)
 
(6,350
)
 
(7,141
)
 
 
$
(6,462
)
 
$
(8,160
)
 
The following tables present the changes in the balances of each component of accumulated other comprehensive loss, net of related taxes, for the three years ended December 31, 2017.   
 
 
Unrealized losses
on cash flow
hedges
 
Items not yet
recognized as a
component of net
periodic benefit cost
(pension and other
postretirement
plans)
 
Total
Balance as of December 31, 2016
 
$
(1,019
)
 
$
(7,141
)
 
$
(8,160
)
Current period change, excluding amounts reclassified from accumulated other comprehensive loss
 
—

 
438

 
438

Amounts reclassified from accumulated other comprehensive loss
 
907

 
353

 
1,260

Total change in accumulated other comprehensive loss
 
907


791


1,698

Balance as of December 31, 2017
 
$
(112
)

$
(6,350
)

$
(6,462
)
 
 
 
 
 
 
 
Balance as of December 31, 2015
 
$
(54,620
)
 
$
(18,841
)
 
$
(73,461
)
Current period change, excluding amounts reclassified from accumulated other comprehensive loss
 
(5,982
)
 
(4,055
)
 
(10,037
)
Amounts reclassified from accumulated other comprehensive loss
 
16,293

 
700

 
16,993

Distribution of International Seaways, Inc.
 
43,290

 
15,055

 
58,345

Total change in accumulated other comprehensive loss
 
53,601

 
11,700

 
65,301

Balance as of December 31, 2016
 
$
(1,019
)

$
(7,141
)

$
(8,160
)
 
 
 
 
 
 
 
Balance as of December 31, 2014
 
$
(61,547
)
 
$
(21,833
)
 
$
(83,380
)
Current period change, excluding amounts reclassified from accumulated other comprehensive loss
 
(11,177
)
 
2,581

 
(8,596
)
Amounts reclassified from accumulated other comprehensive loss
 
18,104

 
411

 
18,515

Total change in accumulated other comprehensive loss
 
6,927

 
2,992

 
9,919

Balance as of December 31, 2015
 
$
(54,620
)

$
(18,841
)

$
(73,461
)
Reclassification Out of Accumulated Other Comprehensive Income (Loss)
The following table presents information with respect to amounts reclassified out of accumulated other comprehensive loss for the three years ended December 31, 2017. 
 
Years Ended December 31,
 
 
Accumulated Other Comprehensive Loss Component
2017
 
2016
 
2015
 
Statement of Operations
Line Item
Unrealized losses on cash flow hedges:
 

 
 

 
 

 
 
Interest rate swaps entered into by the Company's equity method joint venture investees
—

 
(15,664
)
 
(18,101
)
 
Net (loss)/income from  discontinued operations
 
 
 
 
 
 
 
 
Interest rate caps entered into by the Company's  subsidiaries
(1,421
)
 
(339
)
 
(1
)
 
Interest expense
 
 
 
 
 
 
 
 
Interest rate caps entered into by the Company's  subsidiaries
—

 
(408
)
 
(2
)
 
Net (loss)/income from  discontinued operations
 
 
 
 
 
 
 
 
Items not yet recognized as a component of net periodic  benefit cost (pension and other postretirement plans):
 
 
 
 
 
 
 
Net periodic benefit costs associated with  pension and postretirement benefit plans for  shore-based employees
(666
)
 
(645
)
 
(232
)
 
General and  administrative expenses
 
 
 
 
 
 
 
 
Net periodic benefit costs associated with  pension and postretirement benefit plans for  shore-based employees
—

 
(365
)
 
(482
)
 
Net (loss)/income from  discontinued operations
 
 
 
 
 
 
 
 
Net periodic benefit costs associated with  pension and postretirement benefit plans for seagoing employees
150

 
131

 
80

 
Vessel expenses
 
(1,937
)

(17,290
)

(18,738
)
 
Total before tax
 
677

 
297

 
223

 
Tax provision
 
$
(1,260
)

$
(16,993
)

$
(18,515
)
 
Total net of tax
Comprehensive Income Tax Expenses (Benefits)
The income tax (expense)/benefit allocated to each component of other comprehensive loss follows:  
 
 
Unrealized
(losses)/gains on cash
flow hedges
 
Items not yet recognized
as a component of net
periodic benefit cost
For the year ended December 31, 2017:
 
 

 
 

Current period change excluding amounts reclassified from accumulated other comprehensive loss
 
$
—

 
$
(203
)
Amounts reclassified from accumulated other  comprehensive loss
 
(513
)
 
(164
)
Total change in accumulated other comprehensive loss
 
$
(513
)

$
(367
)
 
 
 
 
 
For the year ended December 31, 2016:
 
 
 
 
Current period change excluding amounts reclassified from accumulated other comprehensive loss
 
$
30

 
$
(388
)
Amounts reclassified from accumulated other  comprehensive loss
 
(118
)
 
(179
)
Total change in accumulated other comprehensive loss
 
$
(88
)

$
(567
)
 
 
 
 
 
For the year ended December 31, 2015:
 
 
 
 
Current period change excluding amounts reclassified from accumulated other comprehensive loss
 
$
553

 
$
(353
)
Amounts reclassified from accumulated other  comprehensive loss
 
—

 
(223
)
Total change in accumulated other comprehensive loss
 
$
553


$
(576
)