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Deposit Related to Sale of Marine Assets | 3 Months Ended
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Mar. 31, 2018
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Deposit Related to Sale of Marine Assets | NOTE K — DEPOSIT RELATED TO SALE OF MARINE ASSETS In the first quarter of 2018, we received a deposit of $1.0 million that is consideration to be applied to a future sale of marine assets transaction is being structured with Magellan. These assets have a gross carrying value of $4.9 million and a net book value of $0.1 million at March 31, 2018. Total consideration for this sale is to be $1.6 million. The additional $0.6 million is contingent consideration which is trade debt and interest assumed by Magellan, see NOTE M. On behalf of Magellan, we are to guarantee this debt as part of this transaction.

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