Annual report pursuant to Section 13 and 15(d)

Note 3 - Equipment Acquisitions and Dispositions

v3.19.1
Note 3 - Equipment Acquisitions and Dispositions
12 Months Ended
Dec. 31, 2018
Notes to Financial Statements  
Property, Plant and Equipment Disclosure [Text Block]
3.
EQUIPMENT ACQUISITIONS AND DISPOSITIONS
 
Equipment Additions.
T
he Company's capital expenditures and payments on fair value derivative hedges were
$52.0
million,
$69.4
million, and
$101.3
million in
2018,
2017
and
2016,
respectively. Deliveries of offshore support vessels for the years ended
December 31
were as follows:
 
   
2018
(1)
   
2017
   
2016
 
FSV
   
     
6
     
12
 
Supply
   
     
5
     
2
 
Specialty
   
     
     
1
 
Liftboat    
6
     
     
 
Crew transfer
   
2
     
     
2
 
     
8
     
11
     
17
 

 
 
(
1
)
Excludes
two
AHTS vessels purchased from Managed Entity Seacor
88
and Seacor
888,
and
one
crew transfer vessel purchased from the Company's joint venture FRS Windcat Offshore Logistics. 
 
Equipment Dispositions.
During the year ended
December 
31,
2018,
the Company sold property and equipment for net proceeds of
$18.6
million (
$18.5
million in cash and
$0.1
million in cash deposits previously received) and recorded gains of
$5.9
million, all of which were recognized at the time of sale. In addition, the Company received
$4.4
mi
llion in deposits on future property and equipment sales.
 
During the year ended
December 
31,
2017,
the Company sold property and equipment for net proceeds of
$11.2
million and gains of
$3.9
million, all of which were recognized at the time of sale. In addition, the Company received
$0.1
million in deposits on future property and equipment sales.
 
During the year ended
December 
31,
2016,
the Company sold property and equipment for net proceeds of
$41.4
million and gains of
$3.5
million, all of which were recognized at the time of sale. In addition, the Company received
$0.5
million in deposits on future property and equipment sales.
 
Major equipment dispositions for the years ended
December 31
were as follows:
 
   
 
2018
(1)
   
 
2017
   
 
2016
 
AHTS    
1
     
     
 
FSV    
9
     
     
 
Standby safety
   
3
     
1
     
4
 
Supply
   
     
1
     
5
 
Crew transfer    
1
     
     
 
Liftboats
   
2
     
2
     
 
     
16
     
4
     
9
 

(
1
)
Excludes the sale of (i) a
51%
interest in
one
supply vessel held by the joint venture Seacor Marlin LLC, (ii)
one
crew transfer vessel to the joint venture FRS Windcat Offshore Logistics and (iii)
three
vessels that were previously removed from service (
one
FSV,
one
tow-supply vessel and
one
supply vessel).