Other Financial Information (Tables)
 6 Months Ended
Jun. 30, 2015
OTHER FINANCIAL INFORMATION [Abstract]  
Other Financial Information Income Statement
 
  
Navios
 Maritime
 Holdings Inc.
 Issuer
 
 
Guarantor
 Subsidiaries
 
 
Non
 Guarantor
 Subsidiaries
 
 
Eliminations
 
 
Total
 
Statement of comprehensive loss for the three months ended June 30, 2015
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue
  
$
—
 
 
$
53,583
 
 
$
66,256
 
 
$
—
 
 
$
119,839
 
Administrative fee revenue from affiliates
 
 
—
 
 
 
3,882
 
 
 
—
 
 
 
—
 
 
 
3,882
 
Time charter, voyage and logistics business expenses
  
 
—
 
 
 
(42,796
 ) 
 
 
(15,060
 ) 
 
 
—
 
 
 
(57,856
 ) 
Direct vessel expenses
  
 
—
 
 
 
(12,888
 ) 
 
 
(22,860
 ) 
 
 
—
 
 
 
(35,748
 ) 
General and administrative expenses incurred on behalf of affiliates
 
 
—
 
 
 
(3,882
 ) 
 
 
—
 
 
 
—
 
 
 
(3,882
 ) 
General and administrative expenses
  
 
(1,096
 ) 
 
 
(3,661
 ) 
 
 
(3,911
 ) 
 
 
—
 
 
 
(8,668
 ) 
Depreciation and amortization
  
 
(701
 ) 
 
 
(20,187
 ) 
 
 
(6,591
 ) 
 
 
—
 
 
 
(27,479
 ) 
Interest expense and finance cost, net
  
 
(19,674
 ) 
 
 
(1,429
 ) 
 
 
(6,735
 ) 
 
 
—
 
 
 
(27,838
 ) 
Other (expense)\income, net
  
 
(126
 ) 
 
 
259
 
 
 
(3,454
 ) 
 
 
—
 
 
 
(3,321
 ) 
(Loss)/income before equity in net earnings of affiliated companies
  
 
(21,597)
 
 
 
(27,119)
 
 
 
7,645
 
 
 
—
 
 
 
(41,071)
 
(Loss)/income from subsidiaries
  
 
(19,205
 ) 
 
 
6,006
 
 
 
—
 
 
 
13,199
 
 
 
—
 
Equity in net earnings of affiliated companies
  
 
15,989
 
 
 
1,180
 
 
 
799
 
 
 
—
 
 
 
17,968
 
(Loss)/income before taxes
  
 
(24,813)
 
 
 
(19,933)
 
 
 
8,444
 
 
 
13,199
 
 
 
(23,103)
 
Income tax (expense)/benefit
  
 
—
 
 
 
(72
 ) 
 
 
1,767
 
 
 
—
 
 
 
1,695
 
Net (loss)/income
  
 
(24,813)
 
 
 
(20,005)
 
 
 
10,211
 
 
 
13,199
 
 
 
(21,408)
 
Less: Net income attributable to the noncontrolling interest
  
 
—
 
 
 
—
 
 
 
(3,405
 ) 
 
 
—
 
 
 
(3,405
 ) 
Net (loss)/income attributable to Navios Holdings common stockholders
  
$
(24,813)
 
 
$
(20,005)
 
 
$
6,806
 
 
$
13,199
 
 
$
(24,813)
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Other Comprehensive ( loss)/ income
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Unrealized holding income on investments in available-for-sale securities
  
 $
(213
 ) 
 
$
(213
 ) 
 
$
—
 
 
$
213
 
 
$
(213
 ) 
Total other comprehensive (loss)/ income
  
 $
(213)
 
 
$
(213)
 
 
$
—
 
 
$
213
 
 
$
(213)
 
Total comprehensive (loss)/income
  
 $
(25,026)
 
 
$
(20,218)
 
 
$
10,211
 
 
$
13,412
 
 
$
(21,621)
 
Comprehensive income attributable to noncontrolling interest
  
 
—
 
 
 
—
 
 
 
(3,405
 ) 
 
 
—
 
 
 
(3,405
 ) 
Total comprehensive income / (loss) attributable to Navios Holdings common stockholders
  
$
25,026
 
 
$
(20,218)
 
 
$
6,806
 
 
$
13,412
 
 
$
(25,026)
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
Navios
 Maritime
 Holdings Inc.
 Issuer
 
 
Guarantor
 Subsidiaries
 
 
Non
 Guarantor
 Subsidiaries
 
 
Eliminations
 
 
Total
 
Statement of comprehensive (loss)/income for the three months ended June 30, 2014
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue
  
$
—
 
 
 $
 75,440
 
 
 $
69,968
 
 
$ 
—
 
 
 $
145,408
  
Administrative fee revenue from affiliates
 
 
—
 
 
 
3,502
 
 
 
—
 
 
 
—
 
 
 
3,502
 
Time charter, voyage and logistics business expenses
  
 
—
 
 
 
(39,088
 ) 
 
 
(24,426
 ) 
 
 
—
 
 
 
(63,514
 ) 
Direct vessel expenses
  
 
—
 
 
 
(13,863
 ) 
 
 
(19,977
 ) 
 
 
—
 
 
 
(33,840
 ) 
General and administrative expenses incurred on behalf of affiliates
 
 
—
 
 
 
(3,502
 ) 
 
 
—
 
 
 
—
 
 
 
(3,502
 ) 
General and administrative expenses
  
 
(1,427
 ) 
 
 
(4,789
 ) 
 
 
(3,351
 ) 
 
 
—
 
 
 
(9,567
 ) 
Depreciation and amortization
  
 
(701
 ) 
 
 
(19,146
 ) 
 
 
(5,981
 ) 
 
 
—
 
 
 
(25,828
 ) 
Interest expense and finance cost, net
  
 
(19,643
 ) 
 
 
(1,432
 ) 
 
 
(7,446
 ) 
 
 
—
 
 
 
(28,521
 ) 
Loss on bond extinguishment
  
 
—
 
 
 
—
 
 
 
(27,281
 ) 
 
 
—
 
 
 
(27,281
 )  
Other income/(expense), net
  
 
2
 
 
 
(5,300
 ) 
 
 
(2,183
 ) 
 
 
—
 
 
 
(7,481
 ) 
Loss before equity in net earnings of affiliated companies
  
 
(21,769)
 
 
 
(8,178)
 
 
 
(20,677)
 
 
 
—
 
 
 
(50,624)
 
(Loss)/income from subsidiaries
  
 
(19,639
 ) 
 
 
(13,681
 ) 
 
 
—
 
 
 
33,320
 
 
 
—
  
Equity in net earnings of affiliated companies
  
 
4,729
 
 
 
1,218
 
 
 
1,132
 
 
 
—
 
 
 
7,079
  
Loss before taxes
  
 
(36,679)
 
 
 
(20,641)
 
 
 
(19,545)
 
 
 
33,320
 
 
 
(43,545)
  
Income tax expense
  
 
—
 
 
 
(90
 ) 
 
 
(758
 ) 
 
 
—
 
 
 
(848
 ) 
Net loss
  
 
(36,679)
 
 
 
(20,731)
 
 
 
(20,303)
 
 
 
33,320
 
 
 
(44,393)
  
Less: Net (income)/loss attributable to the noncontrolling interest
  
 
—
 
 
 
(41
 ) 
 
 
7,754
 
 
 
—
 
 
 
7,713
 
Net loss attributable to Navios Holdings common stockholders
  
$
(36,679)
 
 
 $
(20,772)
 
 
 $
(12,549)
 
 
 $
33,320
 
 
 $
(36,680)
  
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Other Comprehensive income
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Unrealized holding income on investments in available-for-sale securities
  
 $
758
 
 
 $
758
 
 
 $
—
 
 
 $
(758
)
 
 $
758
 
Reclassification to earnings
  
 
11,553
 
 
 
11,553
 
 
 
—
 
 
 
(11,553)
 
 
 
11,553
 
Total other comprehensive income
  
 
$ 12,311
 
 
 $
12,311
 
 
 $
—
 
 
 $
(12,311
)
 
 $
12,311
 
Total comprehensive loss
  
 $
(24,368)
 
 
 $
(8,420)
 
 
 $
(20,303)
 
 
 $
21,009
 
 
 $
(32,082)
  
Comprehensive (income)/loss attributable to noncontrolling interest
  
 
—
 
 
 
(41
 ) 
 
 
7,754
 
 
 
—
 
 
 
7,713
 
Total comprehensive loss attributable to Navios Holdings common stockholders
  
$
(24,368)
 
 
$
(8,461)
 
 
$
(12,549)
 
 
$
21,009
 
 
$
(24,369)
  
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
Navios
 Maritime
 Holdings Inc.
 Issuer
 
 
Guarantor
 Subsidiaries
 
 
Non
 Guarantor
 Subsidiaries
 
 
Eliminations
 
 
Total
 
Statement of comprehensive income for the six months ended June 30, 2015
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue
  
$
—
 
 
$
106,801
 
 
$
131,318
 
 
$
—
 
 
$
238,119
 
Administrative fee revenue from affiliates
 
 
—
 
 
 
7,804
 
 
 
—
 
 
 
—
 
 
 
7,804
 
Time charter, voyage and logistics business expenses
  
 
—
 
 
 
(85,731
 ) 
 
 
(42,059
 ) 
 
 
—
 
 
 
(127,790
 ) 
Direct vessel expenses
  
 
—
 
 
 
(25,610
 ) 
 
 
(40,955
 ) 
 
 
—
 
 
 
(66,565
 ) 
General and administrative expenses incurred on behalf of affiliates
 
 
—
 
 
 
(7,804
 ) 
 
 
—
 
 
 
—
 
 
 
(7,804
 ) 
General and administrative expenses
  
 
(2,214
 ) 
 
 
(5,748
 ) 
 
 
(7,517
 ) 
 
 
—
 
 
 
(15,479
 ) 
Depreciation and amortization
  
 
(1,394
 ) 
 
 
(34,232
 ) 
 
 
(13,058
 ) 
 
 
—
 
 
 
(48,684
 ) 
Interest expense and finance cost, net
  
 
(39,384
 ) 
 
 
(2,944
 ) 
 
 
(13,548
 ) 
 
 
—
 
 
 
(55,876
 ) 
Other (expense)\income, net
  
 
(67
 ) 
 
 
760
 
 
 
(5,928
 ) 
 
 
—
 
 
 
(5,235
 ) 
(Loss)/income before equity in net earnings of affiliated companies
  
 
(43,059)
 
 
 
(46,704)
 
 
 
8,253
 
 
 
—
 
 
 
(81,510)
 
(Loss)/income from subsidiaries
  
 
(36,504
 ) 
 
 
6,534
 
 
 
—
 
 
 
29,970
 
 
 
—
 
Equity in net earnings of affiliated companies
  
 
28,072
 
 
 
2,219
 
 
 
1,589
 
 
 
—
 
 
 
31,880
 
(Loss)/income before taxes
  
 
(51,491)
 
 
 
(37,951)
 
 
 
9,842
 
 
 
29.970
 
 
 
(49,630)
 
Income tax (expense)/benefit
  
 
—
 
 
 
(142
 ) 
 
 
1,985
 
 
 
—
 
 
 
1,843
 
Net (loss)/income
  
 
(51,491)
 
 
 
(38,093)
 
 
 
11,827
 
 
 
29,970
 
 
 
(47,787)
 
Less: Net income attributable to the noncontrolling interest
  
 
—
 
 
 
—
 
 
 
(3,704
 ) 
 
 
—
 
 
 
(3,704
 ) 
Net (loss)/income attributable to Navios Holdings common stockholders
  
$
(51,491)
 
 
$
(38,093)
 
 
$
8,123
 
 
$
29,970
 
 
$
(51,491)
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Other Comprehensive ( loss)/ income
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Unrealized holding income on investments in available-for-sale securities
  
 $
(491
 ) 
 
$
(491
 ) 
 
$
—
 
 
$
491
 
 
$
(491
 ) 
Total other comprehensive loss
  
 $
(491)
 
 
$
(491)
 
 
$
—
 
 
$
491
 
 
$
(491)
 
Total comprehensive (loss)/income
  
 $
(51,982)
 
 
$
(38,584)
 
 
$
11,827
 
 
$
30,461
 
 
$
(48,278)
 
Comprehensive income attributable to noncontrolling interest
  
 
—
 
 
 
—
 
 
 
(3,704
 ) 
 
 
—
 
 
 
(3,704
 ) 
Total comprehensive (loss)/income attributable to Navios Holdings common stockholders
  
$
(51,982)
 
 
$
(38,584)
 
 
$
8,123
 
 
$
30,461
 
 
$
(51,982)
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
Navios
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
Maritime
 
 
 
 
 
Non
 
 
 
 
 
 
 
 
  
Holdings Inc.
 
 
Guarantor
 
 
Guarantor
 
 
 
 
 
 
 
 
  
Issuer
 
 
Subsidiaries
 
 
Subsidiaries
 
 
Eliminations
 
 
Total
 
Statement of comprehensive (loss)/income for the six months ended June 30, 2014
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue
  
$
—
 
 
 $
152,033
 
 
 $
115,566
 
 
$ 
—
 
 
 $
267,599
  
Administrative fee revenue from affiliates
 
 
—
 
 
 
6,881
 
 
 
—
 
 
 
—
 
 
 
6,881
 
Time charter, voyage and logistics business expenses
  
 
—
 
 
 
(77,468
 ) 
 
 
(37,224
 ) 
 
 
—
 
 
 
(114,692
 ) 
Direct vessel expenses
  
 
—
 
 
 
(26,532
 ) 
 
 
(35,636
 ) 
 
 
—
 
 
 
(62,168
 ) 
General and administrative expenses incurred on behalf of affiliates
 
 
—
 
 
 
(6,881
 ) 
 
 
—
 
 
 
—
 
 
 
(6,881
 ) 
General and administrative expenses
  
 
(3,737
 ) 
 
 
(10,102
 ) 
 
 
(6,759
 ) 
 
 
—
 
 
 
(20,598
 ) 
Depreciation and amortization
  
 
(1,394
 ) 
 
 
(38,060
 ) 
 
 
(12,048
 ) 
 
 
—
 
 
 
(51,502
 ) 
Interest expense and finance cost, net
  
 
(39,336
 ) 
 
 
(3,069
 ) 
 
 
(14,162
 ) 
 
 
—
 
 
 
(56,567
 ) 
Loss on bond extinguishment
  
 
—
 
 
 
—
 
 
 
(27,281
 ) 
 
 
—
 
 
 
(27,281
 )  
Other expense, net
  
 
(13
 ) 
 
 
(2,292
 ) 
 
 
(3,110
 ) 
 
 
—
 
 
 
(5,415
 ) 
Loss before equity in net earnings of affiliated companies
  
 
(44,480)
 
 
 
(5,490)
 
 
 
(20,654)
 
 
 
—
 
 
 
(70,624)
 
Loss from subsidiaries
  
 
(13,001
 ) 
 
 
(13,794
 ) 
 
 
—
 
 
 
26,795
 
 
 
—
  
Equity in net earnings of affiliated companies
  
 
22,854
 
 
 
4,611
 
 
 
2,032
 
 
 
—
 
 
 
29,497
  
Loss before taxes
  
 
(34,627)
 
 
 
(14,673)
 
 
 
(18,622)
 
 
 
26,795
 
 
 
(41,127)
  
Income tax expense
  
 
—
 
 
 
(178
 ) 
 
 
(958
 ) 
 
 
—
 
 
 
(1,136
 ) 
Net loss
  
 
(34,627)
 
 
 
(14,851)
 
 
 
(19,580)
 
 
 
26,795
 
 
 
(42,263)
  
Less: Net (income)/ loss attributable to the noncontrolling interest
  
 
—
 
 
 
(182
 ) 
 
 
7,818
 
 
 
—
 
 
 
7,636
 
Net loss attributable to Navios Holdings common stockholders
  
$
(34,627)
 
 
 $
(15,033)
 
 
 $
(11,762)
 
 
 $
26,795
 
 
 $
(34,627)
  
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Other Comprehensive income
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Unrealized holding loss on investments in available-for-sale securities
  
 $
(381
 ) 
 
 $
(381
 ) 
 
 $
—
 
 
 $
381
 
 
 $
(381
 ) 
Reclassification to earnings
  
 
11,553
 
 
 
11,553
 
 
 
—
 
 
 
(11,553
 ) 
 
 
11,553
 
Total other comprehensive income
  
 
$ 11,172
 
 
 $
11,172
 
 
 $
—
 
 
 $
(11,172)
 
 
 $
11,172
 
Total comprehensive loss
  
 $
(23,455)
 
 
 $
(3,679)
 
 
 $
(19,580)
 
 
 $
15,623
 
 
 $
(31,091)
  
Comprehensive (income)/loss attributable to noncontrolling interest
  
 
—
 
 
 
(182
 ) 
 
 
7,818
 
 
 
—
 
 
 
7,636
 
Total comprehensive loss attributable to Navios Holdings common stockholders
  
$
(23,455)
 
 
$
(3,861)
 
 
$
(11,762)
 
 
$
15,623
 
 
$
(23,455)
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Other Financial Information Balance Sheet
Balance Sheet as of June 30, 2015
  
Navios
 Maritime
 Holdings Inc.
 Issuer
 
  
Guarantor
 Subsidiaries
 
  
Non Guarantor
 Subsidiaries
 
  
Eliminations
 
 
Total
Current assets
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
 
 
 
Cash and cash equivalents
  
$
32,017
  
  
$
76,329
  
  
$
72,020
  
  
$
—  
  
 
$
180,366
Restricted cash
  
 
—
  
  
 
906
  
  
 
—  
  
  
 
—  
  
 
 
906
Accounts receivable, net
  
 
—
  
  
 
13,895
  
  
 
37,086
  
  
 
—  
  
 
 
50,981
Intercompany receivables
  
 
42,525
  
  
 
—
  
  
 
72,582
  
  
 
(115,107
 ) 
 
 
—  
Due from affiliate companies
  
 
4,702
  
  
 
13,097
  
  
 
—  
  
  
 
—
 
 
 
17,799 
Prepaid expenses and other current assets
  
 
13
  
  
 
24,147
  
  
 
17,314
  
  
 
—
 
 
 
41,474
Total current assets
  
 
79,257
  
  
 
128,374
  
  
 
199,002
  
  
 
(115,107)
 
 
 
291,526
Vessels, port terminals and other fixed assets, net
  
 
—
  
  
 
1,431,760
  
  
 
437,934
  
  
 
—  
 
 
 
1,869,694
Deposits for vessel acquisitions
 
 
—
 
 
 
24,290
 
 
 
   27,700  
 
 
 
—  
 
 
 
51,990
Investments in subsidiaries
  
 
1,628,773
  
  
 
278,066
  
  
 
—  
  
  
 
(1,906,839)
 
 
 
—  
Investment in available-for-sale securities
  
 
—
  
  
 
6,261
  
  
 
—  
  
  
 
—  
 
 
 
6,261
Investment in affiliates
  
 
346,884
  
  
 
11,297
  
  
 
13,224
  
  
 
—  
 
 
 
371,405
Loan receivable from affiliate companies
 
 
—
 
 
 
11,464
 
 
 
—
 
 
 
—  
 
 
 
11,464
Other long-term assets
  
 
—
  
  
 
18,947
  
  
 
23,112
  
  
 
—  
 
 
 
42,059
Goodwill and other intangibles
  
 
88,168
  
  
 
79,537
  
  
 
173,080
  
  
 
—  
 
 
 
340,785
Total non-current assets
  
 
2,063,825
  
  
 
1,861,622
  
  
 
675,050
  
  
 
(1,906,839)
 
 
 
2,693,658
Total assets
  
$
2,143,082
  
  
$
1,989,996
  
  
$
874,052
  
  
$
(2,021,946)
 
 
$
2,985,184
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
 
 
 
LIABILITIES AND STOCKHOLDERS' EQUITY
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
 
 
 
Current liabilities
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
 
 
 
Accounts payable
  
$
947
  
  
$
2,189
  
  
$
31,637
 
  
$
—
 
 
$
34,773
Accrued expenses and other liabilities
  
 
32,952
  
  
 
35,886
  
  
 
25,977
 
  
 
—
 
 
 
94,815
Deferred income and cash received in advance
  
 
—
  
  
 
1,981
  
  
 
4,355
 
  
 
—
 
 
 
6,336
Intercompany payables
  
 
45,242
  
  
 
68,601
  
  
 
1,264
 
  
 
(115,107
 ) 
 
 
—
Due to affiliate company
 
 
—
 
 
 
3,930
 
 
 
—
 
 
 
—
 
 
 
3,930
Current portion of capital lease obligations
  
 
—
  
  
 
—
  
  
 
2,886
 
  
 
—
 
 
 
2,886
Current portion of long-term debt
  
 
—
  
  
 
8,031
  
  
 
69
 
  
 
—
 
 
 
8,100
Total current liabilities
  
 
79,141
  
  
 
120,618
  
  
 
66,188
 
  
 
(115,107)
 
 
 
150,840
Long-term debt, net of current portion
  
 
982,320
 
 
 
226,544
 
 
 
367,059
 
 
 
 
 
 
 
1,575,923
Capital lease obligations, net of current portion
  
 
—
  
  
 
—
  
  
 
18,555
 
  
 
—
 
 
 
18,555
Unfavorable lease terms
  
 
—
  
  
 
14,756
  
  
 
—
 
  
 
—
 
 
 
14,756
Other long-term liabilities and deferred income
  
 
—
  
  
 
13,808
  
  
 
1,066
 
  
 
—
 
 
 
14,874
Deferred tax liability
  
 
—
  
  
 
—
  
  
 
11,364
 
  
 
—
 
 
 
11,364
Total non-current liabilities
  
 
982,320
  
  
 
255,108
  
  
 
398,044
 
  
 
—
 
 
 
1,635,472
Total liabilities
 
 
1,061,461
  
  
 
375,726
  
  
 
464,232
 
  
 
(115,107)
 
 
 
1,786,312
Noncontrolling interest
  
 
—
  
  
 
—
  
  
 
117,251
 
  
 
—
 
 
 
117,251
Total Navios Holdings stockholders' equity
  
 
1,081,621
  
  
 
1,614,271
  
  
 
292,568
 
  
 
(1,906,839)
 
 
 
1,081,621
Total liabilities and stockholders' equity
  
$
2,143,082
  
  
$
1,989,997
  
  
$
874,051
 
  
$
(2,021,946)
 
 
$
2,985,184
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
 
 
 
Balance Sheet as of December 31, 2014
  
Navios
 Maritime
 Holdings Inc.
 Issuer
 
  
Guarantor
 Subsidiaries
 
  
Non Guarantor
 Subsidiaries
 
  
Eliminations
 
 
Total
 
Current assets
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
 
 
 
 
Cash and cash equivalents
  
$
98,539
  
  
$
77,085
  
  
$
71,932
  
  
$
—
  
 
$
247,556
  
Restricted cash
  
 
—  
  
  
 
2,564
  
  
 
—  
  
  
 
—
  
 
 
2,564
  
Accounts receivable, net
  
 
—  
  
  
 
56,265
  
  
 
29,316
  
  
 
—
  
 
 
85,581
  
Intercompany receivables
  
 
23,567
  
  
 
—
  
  
 
71,442
  
  
 
(95,009
 ) 
 
 
—  
  
Due from affiliate companies
  
 
4,638
  
  
 
22,558
  
  
 
—  
  
  
 
—
 
 
 
27,196
  
Prepaid expenses and other current assets
  
 
2  
  
  
 
31,179
  
  
 
23,053
  
  
 
—
 
 
 
54,234
  
Total current assets
  
 
126,746
  
  
 
189,651
  
  
 
195,743
  
  
 
(95,009)
 
 
 
417,131
  
Deposits for vessels, port terminals and other fixed assets
 
 
—  
 
 
 
22,140
 
 
 
23,225
 
 
 
—  
 
 
 
45,365
 
Vessels, port terminal and other fixed assets, net
  
 
—  
  
  
 
1,467,518
  
  
 
443,625
  
  
 
—  
 
 
 
1,911,143
  
Investments in subsidiaries
  
 
1,622,239
  
  
 
271,532
  
  
 
—  
  
  
 
(1,893,771)
 
 
 
—  
  
Investment in available-for-sale securities
  
 
—  
  
  
 
6,701
  
  
 
—  
  
  
 
—  
 
 
 
6,701
  
Investment in affiliates
  
 
331,130
  
  
 
548
  
  
 
12,775
  
  
 
—  
 
 
 
344,453
  
Long-term receivable from affiliate companies
  
 
—
  
  
 
9,625
  
  
 
—  
  
  
 
—  
 
 
 
9,625
  
Loan receivable from affiliate companies
 
 
—
 
 
 
7,791
 
 
 
—  
 
 
 
—  
 
 
 
7,791
 
Other long-term assets
  
 
—
  
  
 
6,920
  
  
 
28,740
  
  
 
—  
 
 
 
35,660
  
Goodwill and other intangibles
  
 
89,562
  
  
 
85,273
  
  
 
174,993
  
  
 
—  
 
 
 
349,828
  
Total non-current assets
  
 
2,042,931
  
  
 
1,878,048
  
  
 
683,358
  
  
 
(1,893,771)
 
 
 
2,710,566
  
Total assets
  
$
2,169,677
  
  
$
2,067,699
  
  
$
879,101
  
  
$
(1,988,780)
 
 
$
3,127,697
  
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
 
 
 
 
LIABILITIES AND STOCKHOLDERS' EQUITY
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
 
 
 
 
Current liabilities
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
 
 
 
 
Accounts payable
  
$
    591
  
  
$
18,399
 
  
$
34,847
  
  
$
—  
  
 
$
53,837
  
Accrued expenses and other liabilities
  
 
33,099
  
  
 
49,363
 
  
 
24,858
  
  
 
—  
  
 
 
107,320
  
Deferred income and cash received in advance
  
 
—
  
  
 
6,263
 
  
 
6,182
  
  
 
—  
  
 
 
12,445
  
Intercompany payables
  
 
—
 
  
 
93,226
 
  
 
1,783
  
  
 
(95,009
 ) 
 
 
—  
  
Current portion of capital lease obligations
  
 
—
  
  
 
—  
 
  
 
1,449
  
  
 
—  
 
 
 
1,449
  
Current portion of long-term debt
  
 
—
  
  
 
23,214
 
  
 
69
  
  
 
—  
 
 
 
23,283
  
Total current liabilities
  
 
33,690
  
  
 
190,465
 
  
 
69,188
  
  
 
(95,009)
 
 
 
198,334
  
Long-term debt, net of current portion
  
 
983,024
  
  
 
231,193
 
  
 
375,390
  
  
 
—  
 
 
 
1,589,607
  
Capital lease obligations, net of current portion
  
 
—  
  
  
 
—  
 
  
 
20,911
  
  
 
—  
 
 
 
20,911
  
Unfavorable lease terms
  
 
—  
  
  
 
22,141
 
  
 
—  
  
  
 
—  
 
 
 
22,141
  
Other long-term liabilities and deferred income
  
 
—  
  
  
 
14,574
 
  
 
2,885
  
  
 
—  
 
 
 
17,459
  
Deferred tax liability
  
 
—  
  
  
 
—  
 
  
 
12,735
  
  
 
—  
 
 
 
12,735
  
Total non-current liabilities
  
 
983,024
  
  
 
267,908
 
  
 
411,921
  
  
 
—  
 
 
 
1,662,853
  
Total liabilities
  
 
1,016,714
  
  
 
458,373
 
  
 
481,109
  
  
 
(95,009)
 
 
 
1,861,187
  
Noncontrolling interest
  
 
—  
  
  
 
—
 
  
 
113,547
  
  
 
—  
 
 
 
113,547
  
Total Navios Holdings stockholders' equity
  
 
1,152,963
  
  
 
1,609,326
 
  
 
284,445
  
  
 
(1,893,771)
 
 
 
1,152,963
  
Total liabilities and stockholders' equity
  
$
2,169,677
  
  
$
2,067,699
 
  
$
879,101
  
  
$
(1,988,780)
 
 
$
3,127,697
  
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
 
 
 
 
Other Financial Information Cash Flow Statement
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
Navios
 
 
 
 
 
 
 
 
 
 
 
 
 
  
Maritime
 
 
 
 
 
Non
 
 
 
 
 
 
 
  
Holdings Inc.
 
 
Guarantor
 
 
Guarantor
 
 
 
 
 
 
Cash flow statement for the six months ended June 30, 2015
  
Issuer
 
 
Subsidiaries
 
 
Subsidiaries
 
 
Eliminations
 
 
Total
Net cash (used in)/provided by operating activities
  
$
(20,906)
 
 
$
12,887
 
 
$
9,758
 
 
$
—
  
 
$
1,739
Cash flows from investing activities
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Acquisition of investments in affiliates
  
 
(14,668)  
 
 
 
(4,275)  
 
 
 
(1,528
 ) 
 
 
—
  
 
 
(20,471
)
Loan to affiliate company
  
 
—  
 
 
 
(3,289
 ) 
 
 
—
 
 
 
—
  
 
 
(3,289
)
Decrease in long-term receivable from affiliate companies
  
 
—  
 
 
 
9,488
 
 
 
—
 
 
 
—
  
 
 
9,488
Dividends from affiliate companies
 
 
7,298
 
 
 
    —
 
 
 
—
 
 
 
—
  
 
 
7,298
Deposits for vessel acquisitions
 
 
—  
 
 
 
(2,150
 ) 
 
 
(4,475) 
 
 
 
—
 
 
 
(6,625
)
Purchase of property, equipment and other fixed assets
  
 
—  
 
 
 
(125
 ) 
 
 
(4,452
 ) 
 
 
—
  
 
 
(4,577
)
Net cash used in investing activities
  
 
(7,370)
 
 
 
(351)
 
 
 
(10,455)
 
 
 
—
  
 
 
(18,176)
Cash flows from financing activities
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Transfer (to)/from other group subsidiaries
  
 
(17,602
)
 
 
16,074
 
 
 
1,528
 
 
 
—
  
 
 
—  
Repayment of long-term debt and payment of principal
  
 
—
 
 
 
(30,988
 ) 
 
 
(34
)
 
 
—
  
 
 
(31,022
)
Dividends paid
  
 
(20,644
 ) 
 
 
—  
 
 
 
—
 
 
 
—
  
 
 
(20,644
)
Decrease in restricted cash
  
 
—
 
 
 
1,622
 
 
 
—
 
 
 
—
  
 
 
1,622
Payments of obligations under capital leases
  
 
—
 
 
 
—  
 
 
 
(709
)
 
 
—
  
 
 
(709
)
Net cash (used in)/provided by financing activities
  
 
(38,246)
 
 
 
(13,292)
 
 
 
785
 
 
 
—
  
 
 
(50,753)
(Decrease)/ increase in cash and cash equivalents
  
 
(66,522)
 
 
 
(756)
 
 
 
88
 
 
 
—
  
 
 
(67,190)
Cash and cash equivalents, at beginning of period
  
 
98,539
 
 
 
77,085
 
 
 
71,932
 
 
 
—
  
 
 
247,556
Cash and cash equivalents, at end of period
  
$
32,017
 
 
$
76,329
 
 
$
72,020
 
 
$
—
  
 
$
180,366
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
Navios
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
Maritime
 
 
 
 
 
Non
 
 
 
 
 
 
 
 
  
Holdings Inc.
 
 
Guarantor
 
 
Guarantor
 
 
 
 
 
 
 
Cash flow statement for the six months ended June 30, 2014
  
Issuer
 
 
Subsidiaries
 
 
Subsidiaries
 
 
Eliminations
 
 
Total
 
Net cash (used in)/provided by operating activities
  
$
(12,714)
 
 
$
59,782
 
 
$
(6,576)
 
 
$
—
  
 
$
40,492
  
Cash flows from investing activities
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Acquisition of investments in affiliates
  
 
—
 
 
 
—
 
 
 
(2,233
 ) 
 
 
—
  
 
 
(2,233
 ) 
Loan to affiliate company
  
 
—  
 
 
 
(2,831
 ) 
 
 
—
 
 
 
—
  
 
 
(2,831
 ) 
Increase in long-term receivable from affiliate companies
  
 
—  
 
 
 
(2,263
 ) 
 
 
—
 
 
 
—
  
 
 
(2,263
 ) 
Dividends from affiliate companies
  
 
7,298
 
 
 
    —
 
 
 
—
 
 
 
—
  
 
 
7,298
  
Deposits for vessel acquisitions
  
 
—  
 
 
 
(17,288
 ) 
 
 
(9,557)  
 
 
 
—
 
 
 
(26,845
 ) 
Acquisition of vessels
  
 
—  
 
 
 
(71,862
 ) 
 
 
—
 
 
 
—
 
 
 
(71,862
 ) 
Purchase of property, equipment and other fixed assets
 
 
(15
 ) 
 
 
(135
 ) 
 
 
(29,183
 ) 
 
 
—
  
 
 
(29,333
 ) 
Net cash provided/(used in) in investing activities
  
 
7,283
 
 
 
(94,379)
 
 
 
(40,973)
 
 
 
—
  
 
 
(128,069)
  
Cash flows from financing activities
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Transfer (to)/from other group subsidiaries
  
 
(15,131
)
 
 
12,898
 
 
 
2,233
 
 
 
—
  
 
 
—  
 
Issuance of common stock
  
 
638
 
 
 
—  
 
 
 
—
 
 
 
—
  
 
 
638
  
Net proceeds from issuance of preferred stock
  
 
47,847
 
 
 
—  
 
 
 
—
 
 
 
—
  
 
 
47,847
  
Proceeds from long-term loans, net of deferred finance fees
  
 
—
 
 
 
40,385
 
 
 
—
 
 
 
—
 
 
 
40,385
  
Proceeds from issuance of senior notes, net of debt issuance costs
  
 
—
 
 
 
    —
 
 
 
365,732
 
 
 
—
 
 
 
365,732
 
Repayment of long-term debt and payment of principal
  
 
—
 
 
 
(9,597
 ) 
 
 
(34
)
 
 
—
  
 
 
(9,631
 ) 
Repayment of senior notes
  
 
—
 
 
 
    —
 
 
 
(290,000
)
 
 
—
 
 
 
(290,000
 )  
Contribution from noncontrolling shareholders
  
 
—
 
 
 
3,484  
 
 
 
—
 
 
 
—
 
 
 
3,484
 
Dividends paid
  
 
(14,351
)
 
 
—  
 
 
 
—
 
 
 
—
  
 
 
(14,351
 ) 
Increase in restricted cash
  
 
—
 
 
 
(469
 ) 
 
 
—
 
 
 
—
  
 
 
(469
 ) 
Acquisition of noncontrolling interest
  
 
—
 
 
 
(10,889
 ) 
 
 
—
 
 
 
—
 
 
 
(10,889
 )  
Payments of obligations under capital leases
  
 
—
 
 
 
—  
 
 
 
(565
)
 
 
—
  
 
 
(565
 )  
Net cash provided by financing activities
 
 
19,003
 
 
 
35,812
 
 
 
77,366
 
 
 
—
  
 
 
132,181
 
Net increase in cash and cash equivalents
 
 
13,572
 
 
 
1,215
 
 
 
29,817
 
 
 
—
  
 
 
44,604
 
Cash and cash equivalents, at beginning of period
 
 
33,769
 
 
 
67,492
 
 
 
86,570
 
 
 
—
  
 
 
187,831
 
Cash and cash equivalents, at end of period
 
$
47,341
 
 
$
68,707
 
 
$
116,387
 
 
$
—
  
 
$
232,435