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IMPAIRMENT LOSS ON INVESTMENT IN STANDARD STEAM TRUST, LLC
12 Months Ended
Dec. 31, 2015
Equity Method Investments and Joint Ventures [Abstract]  
IMPAIRMENT LOSS ON INVESTMENT IN STANDARD STEAM TRUST, LLC
13. IMPAIRMENT LOSS ON INVESTMENT IN STANDARD STEAM TRUST, LLC

 

As of December 31, 2012, the Company’s 19.5% investment in Standard Steam Trust LLC (“SST”) had a carrying value of $2,264. For the year ended December 31, 2013, the Company recorded its share of SST’s net loss using the equity method of accounting, which amounted to $104. The Company regularly evaluated possible impairment of its investment in SST. During the fourth quarter of 2013, management determined that the entire carrying value of this investment was impaired which resulted in a charge of $2,160 for the year ended December 31, 2013. The Company suspended recording its share of SST’s net income or losses after 2013 since the Company is not obligated to make any cash contributions to SST and the net carrying value has been eliminated.