Discountinued Operations Discontinued Operations

12 Months Ended

Dec. 31, 2013

Discontinued Operations [Abstract]

Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]

16. DISCONTINUED OPERATIONS

On March 16, 2012, SEACOR completed the SES Business Transaction for a net sales price of $99.9 million and recognized a gain of $18.6 million, net of tax, or $0.90 per diluted share. During the year ended December 31, 2013, the final working capital settlements were completed resulting in a $1.0 million reduction of the gain, net of tax. The SES Business included NRC, one of the largest providers of oil spill response services in the United States; NRC Environmental Services Inc., a leading provider of environmental and industrial services on the West Coast of the United States; SEACOR Response Ltd., which provides oil spill response and emergency response services to customers in international markets; and certain other subsidiaries. As a result of the sale, the Company disposed of $8.0 million of goodwill.

On December 31, 2012, SEACOR sold SEI, the Company's energy commodity and logistics business, to Par Petroleum Corporation for a net sales price of $15.1 million and recognized a gain of $7.1 million, net of tax, or $0.34 per diluted share. During the year ended December 31, 2013, the final working capital settlements were completed resulting in a $0.1 million reduction of the gain, net of tax.

On January 31, 2013, the Company completed the Spin-off of Era Group, the company that operated SEACOR's Aviation Services business segment, by means of a dividend to SEACOR's shareholders of all the issued and outstanding common stock of Era Group. Era Group filed a Registration Statement on Form 10 with the SEC, describing the Spin-off, that was declared effective on January 14, 2013. Prior to the Spin-off, SEACOR and Era Group entered into a Distribution Agreement and several other agreements that will govern the post-Spin-off relationship. Era Group is now an independent company whose common stock is listed on the New York Stock Exchange under the symbol "ERA." During the year ended December 31, 2013, the Company made a determination to provide for income taxes of $10.1 million relating to the spin-off of Era Group effective as of January 31, 2013, the date of the spin-off.

For all periods presented herein, the Company has reported the historical financial position, results of operations and cash flows of the SES Business, SEI and Era Group as discontinued operations. Summarized selected operating results of the discontinued operations for the years ended December 31 were as follows (in thousands):

	2013			2012			2011
SES Business
Operating Revenues	$	—		$	22,387		$	131,346
Costs and Expenses:
Operating	—			18,234			90,267
Administrative and general	—			4,624			20,674
Depreciation and amortization	—			1,428			7,332
	—			24,286			118,273
Losses on Asset Dispositions	—			(71		)	(61		)
Operating Income (Loss)	—			(1,970		)	13,012
Other Income (Expense), Net (including gain on sale of business)	(1,537		)	24,971			203
Income Tax (Expense), Net	538			(6,342		)	(5,659		)
Equity in Earnings (Losses) of 50% or Less Owned Companies	—			301			(49		)
Net Income (Loss)	$	(999	)	$	16,960		$	7,507
SEI
Operating Revenues	$	—		$	515,468		$	731,164
Costs and Expenses:
Operating	—			503,294			720,791
Administrative and general	—			5,579			3,290
Depreciation and amortization	—			(3		)	7
	—			508,870			724,088
Operating Income	—			6,598			7,076
Other Income (Expense), Net (including gain on sale of business)	(143		)	8,083			(5,335		)
Income Tax (Expense), Net	50			(4,856		)	(913		)
Net Income (Loss)	$	(93	)	$	9,825		$	828
Era Group
Operating Revenues	$	22,892		$	272,921		$	258,148
Costs and Expenses:
Operating	14,076			167,195			162,707
Administrative and general	2,653			34,785			31,893
Depreciation and amortization	3,875			42,502			42,612
	20,604			244,482			237,212
Gains on Asset Dispositions	548			3,612			15,172
Operating Income	2,836			32,051			36,108
Other Income (Expense), Net	(1,316		)	(9,478		)	(1,439		)
Income Tax (Expense), Net	(10,818		)	(7,998		)	(11,303		)
Equity in Earnings (Losses) of 50% or Less Owned Companies	65			(5,528		)	82
Net Income	$	(9,233	)	$	9,047		$	23,448
Eliminations
Operating Revenues	$	—		$	(109,941	)	$	(11,213	)
Costs and Expenses:
Operating	—			(109,938		)	(11,131		)
Administrative and general	—			(3		)	(82		)
	—			(109,941		)	(11,213		)
Operating Income	$	—		$	—		$	—