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Track Maintenance Agreement
6 Months Ended
Jun. 30, 2011
Track Maintenance Agreement [Abstract]  
TRACK MAINTENANCE AGREEMENT
9. TRACK MAINTENANCE AGREEMENT
In the first quarter of 2011, the Company entered into a track maintenance agreement with an unrelated third-party customer (“Shipper”). Under the agreement, the Shipper pays for qualified railroad track maintenance expenditures during 2011 in exchange for the assignment of railroad track miles which permits the Shipper to claim certain tax credits pursuant to Section 45G of the Internal Revenue Code. For the three and six months ended June 30, 2011, the Shipper paid for $5.3 million and $9.5 million of maintenance expenditures, respectively, and $4.1 million of capital expenditures during the three months ended June 30, 2011. The Company incurred $0.2 million and $0.3 million of consulting fees related to the agreement during the three and six months ended June 30, 2011, respectively. The track maintenance tax credit was not renewed by Congress for 2010 until December 2010. This resulted in no Shipper reimbursements in the three or six months ended June 30, 2010.