Quarterly report pursuant to Section 13 or 15(d)

Segment Information Segment Information (Tables)

v3.7.0.1
Segment Information Segment Information (Tables)
6 Months Ended
Jun. 30, 2017
Segment Reporting [Abstract]  
Operating Results, Capital Expenditures And Assets By Reporting Segment
The following tables summarize the operating results, capital expenditures and assets of the Company’s reportable segments.
 
United States (primarily Gulf of Mexico)
$’000
 
Africa (primarily West Africa)
$’000
 
Middle East and Asia
$’000
 
Brazil, Mexico, Central and South America
$’000
 
Europe (primarily North Sea)
$’000
 
Total
$’000
For the three months ended June 30, 2017
 
 
 
 
 
 
 
 
 
 
 
Operating Revenues:
 
 
 
 
 
 
 
 
 
 
 
Time charter
4,889

 
7,786

 
7,415

 

 
18,713

 
38,803

Bareboat charter

 

 

 
1,156

 

 
1,156

Other marine services
1,198

 
215

 
109

 
162

 
680

 
2,364

 
6,087

 
8,001

 
7,524

 
1,318

 
19,393

 
42,323

Direct Costs and Expenses:
 
 
 
 
 
 
 
 
 
 
 
Operating:
 
 
 
 
 
 
 
 
 
 
 
Personnel
4,183

 
3,428

 
4,147

 
148

 
8,671

 
20,577

Repairs and maintenance
937

 
3,234

 
3,947

 
116

 
2,191

 
10,425

Drydocking
310

 
683

 
358

 

 
900

 
2,251

Insurance and loss reserves
1,205

 
357

 
353

 
4

 
207

 
2,126

Fuel, lubes and supplies
545

 
704

 
908

 
27

 
1,006

 
3,190

Other
51

 
871

 
1,061

 
3

 
237

 
2,223

 
7,231

 
9,277

 
10,774

 
298

 
13,212

 
40,792

Direct Vessel Profit (Loss)
(1,144
)
 
(1,276
)
 
(3,250
)
 
1,020

 
6,181

 
1,531

Other Costs and Expenses:
 
 
 
 
 
 
 
 
 
 
 
Operating:
 
 
 
 
 
 
 
 
 
 
 
Leased-in equipment
2,205

 
969

 
516

 

 

 
3,690

Administrative and general
 
 
 
 
 
 
 
 
 
 
21,705

Depreciation and amortization
5,749

 
2,059

 
3,979

 
784

 
2,062

 
14,633

 
 
 
 
 
 
 
 
 
 
 
40,028

Losses on Asset Dispositions and Impairments, Net
 
 
 
 
 
 
 
 
 
(6,318
)
Operating Loss
 
 
 
 
 
 
 
 
 
 
(44,815
)
 
United States (primarily Gulf of Mexico)
$’000
 
Africa (primarily West Africa)
$’000
 
Middle East and Asia
$’000
 
Brazil, Mexico, Central and South America
$’000
 
Europe (primarily North Sea)
$’000
 
Total
$’000
For the six months ended June 30, 2017
 
 
 
 
 
 
 
 
 
 
 
Operating Revenues:
 
 
 
 
 
 
 
 
 
 
 
Time charter
7,884

 
13,633

 
13,238

 

 
34,778

 
69,533

Bareboat charter

 

 

 
2,299

 

 
2,299

Other marine services
2,024

 
407

 
986

 
237

 
1,141

 
4,795

 
9,908

 
14,040

 
14,224

 
2,536

 
35,919

 
76,627

Direct Costs and Expenses:
 
 
 
 
 
 
 
 
 
 
 
Operating:
 
 
 
 
 
 
 
 
 
 
 
Personnel
7,313

 
6,036

 
7,270

 
161

 
16,588

 
37,368

Repairs and maintenance
1,674

 
3,778

 
4,523

 
120

 
3,925

 
14,020

Drydocking
883

 
1,740

 
516

 

 
2,179

 
5,318

Insurance and loss reserves
2,010

 
539

 
699

 
11

 
426

 
3,685

Fuel, lubes and supplies
855

 
1,263

 
1,432

 
27

 
1,955

 
5,532

Other
123

 
1,517

 
2,526

 
4

 
487

 
4,657

 
12,858

 
14,873

 
16,966

 
323

 
25,560

 
70,580

Direct Vessel Profit (Loss)
(2,950
)
 
(833
)
 
(2,742
)
 
2,213

 
10,359

 
6,047

Other Costs and Expenses:
 
 
 
 
 
 
 
 
 
 
 
Operating:
 
 
 
 
 
 
 
 
 
 
 
Leased-in equipment
4,416

 
1,939

 
862

 

 
64

 
7,281

Administrative and general
 
 
 
 
 
 
 
 
 
 
33,531

Depreciation and amortization
11,349

 
3,649

 
6,506

 
1,449

 
4,183

 
27,136

 
 
 
 
 
 
 
 
 
 
 
67,948

Losses on Asset Dispositions and Impairments, Net
 
 
 
 
 
 
 
 
 
(1,499
)
Operating Loss
 
 
 
 
 
 
 
 
 
 
(63,400
)
 
 
 
 
 
 
 
 
 
 
 
 
As of June 30, 2017
 
 
 
 
 
 
 
 
 
 
 
Property and Equipment:
 
 
 
 
 
 
 
 
 
 
 
Historical cost
417,675

 
183,661

 
302,892

 
78,976

 
171,951

 
1,155,155

Accumulated depreciation
(233,758
)
 
(59,300
)
 
(83,880
)
 
(41,565
)
 
(125,319
)
 
(543,822
)
 
183,917

 
124,361

 
219,012

 
37,411

 
46,632

 
611,333

 
United States (primarily Gulf of Mexico)
$’000
 
Africa (primarily West Africa)
$’000
 
Middle East and Asia
$’000
 
Brazil, Mexico, Central and South America
$’000
 
Europe (primarily North Sea)
$’000
 
Total
$’000
For the three months ended June 30, 2016
 
 
 
 
 
 
 
 
 
 
 
Operating Revenues:
 
 
 
 
 
 
 
 
 
 
 
Time charter
8,726

 
8,902

 
10,554

 

 
21,052

 
49,234

Bareboat charter

 

 

 
3,045

 

 
3,045

Other marine services
1,054

 
131

 
2,641

 
498

 
668

 
4,992

 
9,780

 
9,033

 
13,195

 
3,543

 
21,720

 
57,271

Direct Costs and Expenses:
 
 
 
 
 
 
 
 
 
 
 
Operating:
 
 
 
 
 
 
 
 
 
 
 
Personnel
6,368

 
3,324

 
5,058

 
367

 
10,724

 
25,841

Repairs and maintenance
643

 
522

 
1,659

 
59

 
2,544

 
5,427

Drydocking
175

 
426

 
(284
)
 

 
1,646

 
1,963

Insurance and loss reserves
680

 
36

 
151

 
(12
)
 
248

 
1,103

Fuel, lubes and supplies
234

 
598

 
1,498

 
112

 
911

 
3,353

Other
28

 
883

 
827

 
75

 
293

 
2,106

 
8,128

 
5,789

 
8,909

 
601

 
16,366

 
39,793

Direct Vessel Profit
1,652

 
3,244

 
4,286

 
2,942

 
5,354

 
17,478

Other Costs and Expenses:
 
 
 
 
 
 
 
 
 
 
 
Operating:
 
 
 
 
 
 
 
 
 
 
 
Leased-in equipment
1,858

 
975

 
1,123

 
367

 
129

 
4,452

Administrative and general
 
 
 
 
 
 
 
 
 
 
11,929

Depreciation and amortization
7,157

 
1,615

 
3,059

 
1,200

 
2,223

 
15,254

 
 
 
 
 
 
 
 
 
 
 
31,635

Losses on Asset Dispositions and Impairments, Net
 
 
 
 
 
 
 
 
 
(20,357
)
Operating Loss
 
 
 
 
 
 
 
 
 
 
(34,514
)
 
United States (primarily Gulf of Mexico)
$’000
 
Africa (primarily West Africa)
$’000
 
Middle East and Asia
$’000
 
Brazil, Mexico, Central and South America
$’000
 
Europe (primarily North Sea)
$’000
 
Total
$’000
For the six months ended June 30, 2016
 
 
 
 
 
 
 
 
 
 
 
Operating Revenues:
 
 
 
 
 
 
 
 
 
 
 
Time charter
19,768

 
20,041

 
18,707

 
196

 
42,095

 
100,807

Bareboat charter

 

 

 
5,697

 

 
5,697

Other marine services
1,965

 
36

 
6,729

 
884

 
1,032

 
10,646

 
21,733

 
20,077

 
25,436

 
6,777

 
43,127

 
117,150

Direct Costs and Expenses:
 
 
 
 
 
 
 
 
 
 
 
Operating:
 
 
 
 
 
 
 
 
 
 
 
Personnel
14,130

 
6,409

 
9,236

 
1,895

 
21,729

 
53,399

Repairs and maintenance
1,402

 
1,493

 
3,493

 
207

 
5,126

 
11,721

Drydocking
217

 
584

 
1,393

 

 
3,472

 
5,666

Insurance and loss reserves
1,679

 
248

 
414

 
37

 
603

 
2,981

Fuel, lubes and supplies
747

 
974

 
2,452

 
193

 
2,084

 
6,450

Other
189

 
1,408

 
1,606

 
170

 
671

 
4,044

 
18,364

 
11,116

 
18,594

 
2,502

 
33,685

 
84,261

Direct Vessel Profit
3,369

 
8,961

 
6,842

 
4,275

 
9,442

 
32,889

Other Costs and Expenses:
 
 
 
 
 
 
 
 
 
 
 
Operating:
 
 
 
 
 
 
 
 
 
 
 
Leased-in equipment
3,720

 
1,952

 
2,299

 
734

 
129

 
8,834

Administrative and general
 
 
 
 
 
 
 
 
 
 
24,327

Depreciation and amortization
14,034

 
3,193

 
5,977

 
2,399

 
4,489

 
30,092

 
 
 
 
 
 
 
 
 
 
 
63,253

Losses on Asset Dispositions and Impairments, Net
 
 
 
 
 
 
 
 
 
(20,737
)
Operating Loss
 
 
 
 
 
 
 
 
 
 
(51,101
)
 
 
 
 
 
 
 
 
 
 
 
 
As of June 30, 2016
 
 
 
 
 
 
 
 
 
 
 
Property and Equipment:
 
 
 
 
 
 
 
 
 
 
 
Historical cost
446,819

 
162,040

 
224,060

 
87,632

 
178,363

 
1,098,914

Accumulated depreciation
(211,585
)
 
(75,267
)
 
(95,133
)
 
(50,701
)
 
(124,223
)
 
(556,909
)
 
235,234

 
86,773

 
128,927

 
36,931

 
54,140

 
542,005

The Company’s investments in 50% or less owned companies, which are accounted for under the equity method, also contribute to its consolidated results of operations. As of June 30, 2017, the Company’s investments, at equity, and advances to 50% or less owned companies in MexMar and its other 50% or less owned companies were $58.7 million and $42.0 million, respectively. Equity in earnings (losses) of 50% or less owned companies, net of tax, were as follows (in thousands):
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2017
 
2016
 
2017
 
2016
MexMar
$
1,222

 
$
846

 
$
2,589

 
$
3,431

Other
349

 
(4,161
)
 
(580
)
 
(4,585
)
 
$
1,571

 
$
(3,315
)
 
$
2,009

 
$
(1,154
)