Railroad Track Maintenance Credits

12 Months Ended

Dec. 31, 2015

Text Block [Abstract]

Railroad Track Maintenance Credits

8. Railroad Track Maintenance Credits:

During the fourth quarter of 2015 and 2014, the Company entered into an agreement with an unrelated third-party shipping customer. Under the agreement, the customer agreed to pay for certain qualified railroad track maintenance expenditures, including capital additions to the Company's track structure during 2015 and 2014. In return, the Company agreed to assign railroad track miles to the shipping customer which would enable that customer to claim certain track maintenance credits pursuant to section 45G of the Internal Revenue Code of 1986. $1,800 was realized as a result of the agreements for each of the years ended December 31, 2015 and 2014. The Railroad Track Maintenance Credits were accounted for as a reduction of Operating Expenses - Maintenance of Way and Structures in the Statement of Operations.