Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.19.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2018
Dec. 31, 2017
Current Assets:    
Cash and cash equivalents $ 95,195 $ 110,234
Restricted cash 1,657 2,317
Receivables:    
Trade, net of allowance for doubtful accounts of $860 and $4,039 in 2018 and 2017, respectively 64,125 45,616
Other 12,082 12,341
Inventories 3,443 3,756
Prepaid expenses and other 2,530 3,026
Total current assets 179,032 177,290
Property and Equipment:    
Historical cost [1] 1,242,733 1,179,836
Accumulated depreciation (561,272) (560,160)
681,461 619,676
Construction in progress 88,918 70,157
Net property and equipment 770,379 689,833
Investments, at Equity, and Advances to 50% or Less Owned Companies 121,773 92,169
Construction Reserve Funds 28,061 45,361
Other Assets 3,690 3,851
1,102,935 1,008,504
Current Liabilities:    
Current portion of long-term debt 16,812 22,858
Accounts payable and accrued expenses 19,370 24,024
Due to SEACOR Holdings 452 1,358
Accrued wages and benefits 5,025 5,087
Accrued income taxes 1,917 4,290
Accrued capital, repair and maintenance expenditures 18,886 19,618
Deferred revenues 1,327 10,104
Other current liabilities 19,828 11,879
Total current liabilities 83,617 99,218
Long-Term Debt 387,854 292,041
Conversion Option Liability on Convertible Senior Notes 5,276 6,832
Deferred Income Taxes 44,682 55,506
Deferred Gains and Other Liabilities 26,571 31,741
Total liabilities 548,000 485,338
SEACOR Marine Holdings Inc. stockholders' equity:    
Preferred stock, $.01 par value, 10,000,000 shares authorized; none issued nor outstanding
Common stock, $.01 par value, 60,000,000 shares authorized; 20,443,215 and 17,675,356 shares issued in 2018 and 2017, respectively 204 177
Additional paid-in capital 415,372 303,996
Retained earnings 126,834 216,511
Shares held in treasury of 4,007 and 0 in 2018 and 2017, respectively, at cost (91)
Accumulated other comprehensive loss, net of tax (16,788) (12,493)
525,531 508,191
Noncontrolling interests in subsidiaries 29,404 14,975
Total equity 554,935 523,166
$ 1,102,935 $ 1,008,504
[1] Includes property and equipment acquired in business acquisitions at acquisition date fair value, and net of the impact of recognized impairment charges.