Quarterly report pursuant to Section 13 or 15(d)

RELATED PARTY TRANSACTIONS

v2.4.0.8
RELATED PARTY TRANSACTIONS
 3 Months Ended
Mar. 31, 2014
Related Party Transactions [Abstract]  
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS
Prior to the Spin-off, as part of a consolidated group, certain costs and expenses of the Company were borne by SEACOR and charged to the Company. These costs and expenses are included in both operating expenses and administrative and general expenses in January 2013. In conjunction with the Spin-off, the Company entered into an Amended and Restated Transition Services Agreement with SEACOR. These costs are classified in administrative and general expenses. The costs are summarized as follows (in thousands):
 
 
Three Months Ended 
 March 31,
 
 
2014
 
2013
Payroll costs for SEACOR personnel assigned to the Company and participation in SEACOR employee benefit plans, defined contribution plan and share award plans
 
$
—

 
$
5

Shared services allocation for administrative support
 
—

 
299

Shared services under the Amended and Restated Transition Services Agreement
 
798

 
562

 
 
$
798

 
$
866


As of March 31, 2014, the Company recorded a payable due to SEACOR of $0.3 million.