XML 64 R50.htm IDEA: XBRL DOCUMENT v3.7.0.1
Capital Stock and Stock Compensation (Narrative) (Details)
3 Months Ended
Mar. 23, 2017
USD ($)
Nov. 30, 2016
shares
Jun. 13, 2016
Mar. 31, 2017
$ / shares
shares
Mar. 31, 2016
USD ($)
$ / shares
shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Description of reverse stock split       on June 2, 2016 the Board approved an amendment (the "Reverse Split Amendment") to the Company's Amended and Restated Certificate of Incorporation. The Reverse Split Amendment effected a one (1) for six (6) reverse stock split and corresponding reduction of the number of authorized shares of common stock, par value $0.01 per share (the "Reverse Split"). The Reverse Split Amendment became effective on June 13, 2016  
Description of stock conversion       effective May 27, 2016, all Class B common shares and Class B warrants automatically converted into one Class A common share and one Class A warrant, respectively  
Stock split conversion ratio     0.16667    
Restricted Stock [Member]          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Shares paid for tax withholding for share based compensation         20,757
Shares paid for tax withholding for share based compensation, per share amount | $ / shares         $ 14.81
Restricted Stock Units (RSUs) [Member] | Senior Officers [Member]          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Vested, other than options | $ $ 2,856        
Time Based Restricted Stock [Member] | Senior Officers [Member]          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Granted         119,853
Granted, per share | $ / shares         $ 11.82
Performance Based Restricted Units [Member] | Senior Officers [Member]          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Granted       63,532  
Vesting period       3 years  
Performance Based Restricted Units [Member] | Senior Officers [Member] | Share-based Compensation Award, Tranche One [Member]          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Vesting percentage       50.00%  
Performance Based Restricted Units [Member] | Senior Officers [Member] | Share-based Compensation Award, Tranche Two [Member]          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Vesting percentage       50.00%  
RSU related to ROIC and TSR [Member] | Senior Officers [Member]          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Additional shares available for grant       95,294  
RSUs related to ROIC [Member] | Senior Officers [Member]          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Additional shares available for grant       47,647  
RSUs related to TSR [Member] | Senior Officers [Member]          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Granted, per share | $ / shares       $ 4.04  
Additional shares available for grant       47,647  
Employee Stock Option [Member]          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Grants, options, per share | $ / shares       $ 1.89  
Employee Stock Option [Member] | Senior Officers [Member]          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Granted, options       135,804  
Options, exercisable price | $ / shares       $ 4.04  
Common Class A [Member]          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Stock repurchased during period, shares         76,817
Stock repurchaed during period, per share amount | $ / shares         $ 12.64
Stock repurchased during period, value | $         $ 971,000
Stock issued during period, shares, conversion of convertible securities       3,209,648 1,512,594
Common stock, par value (in dollars per share) | $ / shares       $ 0.01  
Common Class B [Member]          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Stock issued during period, shares, conversion of convertible securities         7,833
Common Class A and Common Class B [Member]          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Share ratio issued as dividend       0.10%  
Management Incentive Compensation Plan [Member] | Time Based Restricted Stock [Member] | Senior Officers [Member]          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Granted       165,010  
Granted, per share | $ / shares       $ 4.04  
Management Incentive Compensation Plan [Member] | Performance Based Restricted Units [Member] | Senior Officers [Member]          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Granted         119,853
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights       Each performance stock unit represents a contingent right to receive RSUs based upon the covered employees being continuously employed through the end of the period over which the performance goals are measured and shall vest as follows: (i) one-third of the target RSUs shall vest on December 31, 2018, subject to OSG's three-year earnings per share ("EPS") performance in the three-year EPS performance period relative to a compounded annual growth rate (the "EPS Target") set forth in the award agreements; (ii) one-third of the target RSUs vest on December 31, 2018, subject to OSG's return on invested capital ("ROIC") performance in the three-year ROIC performance period relative to a target rate (the "ROIC Target") set forth in the award agreements; and (iii) one-third of the target RSUs will be subject to OSG's three-year total shareholder return ("TSR") performance relative to that of a performance peer group over a three-year TSR performance period ("TSR Target"). Vesting is subject in each case to the HRC's certification of achievement of the performance measures and targets no later than March 31, 2019. The EPS Target and ROIC Target are performance conditions which, during 2016, management believed, were not yet considered probable of being achieved. Accordingly, for financial reporting purposes, no compensation costs will be recognized for these awards until it becomes probable that the performance conditions will be achieved.  
Management Incentive Compensation Plan [Member] | Performance Based Restricted Units [Member] | Management [Member]          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Granted         38,547
Granted, per share | $ / shares         $ 11.82
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights       Each performance stock unit represents a contingent right to receive RSUs based upon certain performance related goals being met and the covered employees being continuously employed through the end of the period over which the performance goals are measured. In conjunction with the INSW spinoff transaction, awards granted to former members of OSG senior management that transitioned to INSW were cancelled. The outstanding unvested performance based RSU awards held by the members of senior management that remained with OSG, but who retired from their positions with the Company shortly after the spinoff, were forfeited. The HRC certified the achievement of the performance measures and targets for this award on March 23, 2017, resulting in 2,856 performance based RSUs being deemed to be vested effective December 31, 2016.  
Management Incentive Compensation Plan [Member] | RSUs related to TSR [Member] | Senior Officers [Member]          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Granted, per share | $ / shares         $ 11.82
Management Incentive Compensation Plan [Member] | Employee Stock Option [Member] | Senior Officers [Member]          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Granted, options         319,069
Grants, options, per share | $ / shares         $ 4.74
Management Incentive Compensation Plan [Member] | Common Class A [Member] | Employee Stock Option [Member] | Minimum [Member] | Senior Officers [Member]          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Share Price | $ / shares         $ 11.82
Class A Warrant [Member]          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Stock repurchased during period, shares         24,999,078
Stock repurchaed during period, per share amount | $ / shares         $ 12.19
Stock repurchased during period, value | $         $ 56,990,000
Conversion of stock, shares converted       16,931,530 8,285,284
Coversion ratio reflecting reverse stock split       0.190  
Class B Warrant [Member]          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Conversion of stock, shares converted         46,997
Common Stock [Member] | International Seaways Incorporated [Member]          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Shares received pursuant to spinoff   0.3333      
Warrants Related to Spinoff [Member]          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Shares received pursuant to spinoff   0.063327      
Warrants Related to Spinoff [Member] | International Seaways Incorporated [Member]          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Shares received pursuant to spinoff   0.3333