Note 17 - Commitments and Contingencies
|12 Months Ended|
Dec. 31, 2018
|Notes to Financial Statements|
|Commitments and Contingencies Disclosure [Text Block]||
2018,the Company had capital commitments of
$78.2million that included
twocrew transfer vessels, and
threeplatform supply vessels. The Company's capital commitments by year of expected payment are as follows (in thousands):
The Company had indefinitely deferred an additional
$20.2million of orders with respect to tow FSVs for which the Company had previously reported unfunded capital commitments.
In the normal course of its business, the Company becomes involved in various other litigation matters including, among other things, claims by
third-parties for alleged property damages and personal injuries. Management has used estimates in determining the Company's potential exposure to these matters and has recorded reserves in its financial statements related thereto where appropriate. It is possible that a change in the Company's estimates of that exposure could occur, but the Company does
notexpect such changes in estimated costs could have a material adverse effect on the Company's business, financial position, results of operations, cash flows and growth prospects.
December 31, 2018,the Company leases
fiveunimpaired offshore support vessels and certain facilities and other equipment. These leasing agreements have been classified as operating leases for financial reporting purposes and related rental fees are charged to expense over the lease terms. The leases generally contain purchase and lease renewal options or rights of
firstrefusal with respect to the sale or lease of the equipment. The lease terms generally range in duration from
threeyears (see Note
The Company has
$2.5million available under its Windcat Workboats credit facilities.
The entire disclosure for commitments and contingencies.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef