Condensed Combined Financial Statements of Debtor Subsidiaries (Tables)

3 Months Ended

Mar. 31, 2013

Condensed Combined Financial Statements Of Debtor Subsidiaries [Abstract]

Schedule of Combined Condensed Balance Sheet Information [Table Text Block]

	Total		Total
	Combined		Combined
	Debtor		Debtor
	Entities		Entities
	March 31,		December 31,
Combined Balance Sheet information	2013		2012
ASSETS
Current Assets:
Cash and cash equivalents	$	517,460	$	471,726
Voyage receivables		153,519		178,635
Other receivables		40,088		38,153
Inventories, prepaid expenses and other current assets		44,538		55,602
Total Current Assets		755,605		744,116
Vessels and other property less accumulated depreciation		2,825,027		2,849,331
Deferred drydock expenditures, net		63,191		74,418
Total Vessels, Deferred Drydock and Other Property		2,888,218		2,923,749
Investments in Affiliated Companies		264,659		252,098
Intangible assets, less accumulated amortization		70,444		71,736
Goodwill		9,668		9,668
Investments in Subsidiaries		147,921		147,921
Pre and Post-petition intercompany loans receivable and accrued interest		35,583		76,611
Pre-petition intercompany receivables		2,233,404		2,233,404
Post-petition intercompany receivables		2,295		927
Other Assets		25,718		26,767
Total Assets	$	6,433,515	$	6,486,997
LIABILITIES AND EQUITY
Current Liabilities:
Accounts payable, accrued expenses and other current liabilities	$	85,100	$	84,477
Deferred income taxes		24,558		25,900
Income taxes payable, including reserve for uncertain tax positions of     $326,121 and $326,161		331,928		329,922
Total Current Liabilities		441,586		440,299
Reserve for Uncertain Tax Positions		18,631		17,067
Deferred Gain on Sale and Leaseback of Vessels		-		3,839
Deferred Income Taxes		338,238		346,620
Other Liabilities		31,393		29,326
Post-petition intercompany payables		7,457		47,075
Liabilities Subject to Compromise, including pre-petition intercompany     payables		4,964,809		4,811,562
Total Liabilities		5,802,114		5,695,788
Equity:
Total Equity		631,401		791,209
Total Liabilities and Equity	$	6,433,515	$	6,486,997

Schedule of Combined Condensed Income Statement [Table Text Block]

	Total
	Combined
	Debtor
Combined Statement of Operations for the three months ended March 31, 2013	Entities
Shipping Revenues:
Pool revenues	$	56,267
Time and bareboat charter revenues		83,801
Voyage charter revenues		107,549
		247,617
Operating Expenses:
Voyage expenses		51,986
Vessel expenses		66,514
Charter hire expenses		65,458
Depreciation and amortization		43,456
General and administrative		14,353
Loss on disposal of vessels		28
Total Operating Expenses		241,795
Income from Vessel Operations		5,822
Equity in Income of Affiliated Companies		10,290
Operating Income		16,112
Other Expense		(2,789)
Income before Interest Expense, Reorganization Items and Income Taxes		13,323
Interest Expense		(288)
Income before Reorganization Items and Income Taxes		13,035
Reorganization Items, net		184,621
Loss before Income Taxes		(171,586)
Income Tax Benefit		5,835
Net Loss	$	(165,751)

Schedule of Combined Condensed Cash Flow Statement [Table Text Block]

	Total
	Combined
	Debtor
Combined Statement of Cash Flows for the three months ended March 31, 2013	Entities
Cash Flows from Operating Activities:
Net loss	$	(165,751)
Items included in net loss not affecting cash flows:
Depreciation and amortization		43,456
Amortization of deferred gain on sale and leasebacks		42
Compensation relating to restricted stock and stock option grants		(1,930)
Deferred income tax benefit		(9,704)
Undistributed earnings of affiliated companies		(6,719)
Deferred payment obligations on charters-in		1,377
Reorganization items, non-cash		177,213
Gain on sublease contracts		(344)
Other – net		1,400
Items included in net loss related to investing and financing activities:
Loss on sale of securities and other investments – net		303
Loss on disposal of vessels – net		22
Payments for drydocking		(3,834)
Changes in operating assets and liabilities		28,183
Net cash provided by operating activities		63,714
Cash Flows from Investing Activities:
Proceeds from sale of marketable securities and investments		179
Expenditures for vessels		(12,203)
Deposit received for disposal of vessel		472
Expenditures for other property		(98)
Other – net		(86)
Net cash used in investing activities		(11,736)
Cash Flows from Financing Activities:
Purchases of treasury stock		(42)
Payments on debt, including adequate protection payments		(6,202)
Net cash used in financing activities		(6,244)
Net increase in cash and cash equivalents		45,734
Cash and cash equivalents at beginning of year		471,726
Cash and cash equivalents at end of period	$	517,460