HOUMA, La.--(BUSINESS WIRE)-- SEACOR Marine Holdings Inc. (NYSE:SMHI) (the “Company”), a leading provider of global marine and support transportation services to offshore oil and natural gas exploration, development and production facilities worldwide, today announced results for its fourth quarter and year ended December 31, 2017.

Net income attributable to SEACOR Marine Holdings Inc. was $29.0 million ($1.20 per diluted share) for the fourth quarter ended December 31, 2017. Net loss attributable to SEACOR Marine Holdings Inc. was $32.9 million ($1.87 per diluted share) for the year ended December 31, 2017.

Results for the fourth quarter ended December 31, 2017 included the following:

• Improved direct vessel profit (“DVP”) of $11.7 million compared with $9.4 million in the preceding quarter.
• Impairment charges of $11.8 million primarily associated with the Company’s anchor handling towing supply fleet.
• Income tax benefits of $50.7 million recognized as a result of new U.S. tax legislation, commonly referred to as the Tax Cuts and Jobs Act, signed into law on December 22, 2017.

John Gellert, the Company’s Chief Executive Officer, commented:

“Operating results continued to improve in the fourth quarter.

We continue to see strengthened demand for platform and well services performed by our liftboat fleet both domestically and internationally, which helped to drive our improved results. With the consolidation of the SEACOR and Montco liftboat fleets in February, we enter the 2018 maintenance and construction season in the Gulf of Mexico with a larger, more capable liftboat fleet that is well positioned to meet growing demand.

The four PSVs we acquired in December are generating positive operating results and have already benefited from a tightening market for active vessels. We are closely evaluating opportunities for the newbuild SEACOSCO joint venture PSVs and are confident of securing charters for some of these vessels as the year progresses.

Our results reflect increasing seasonality in some of our asset classes, especially liftboats in the Gulf of Mexico and wind farm utility vessels in the North Sea. However, we remain optimistic that higher oil and natural gas prices are helping build a foundation for an eventual recovery in offshore activity worldwide. By leveraging our diverse fleet, which has been buttressed by recent acquisitions, we believe we are well positioned to service a wide variety of offshore activities as they develop in the coming year.”

For the fourth quarter and year ended December 31, 2016, net loss attributable to SEACOR Marine Holdings Inc. was $61.6 million ($3.48 per diluted share) and $132.0 million ($7.47 per diluted share), respectively. Net loss attributable to SEACOR Marine Holdings Inc. for the preceding quarter ended September 30, 2017 was $20.5 million ($1.25 per diluted share).

A comparison of results for the fourth quarter ended December 31, 2017 with the preceding quarter ended September 30, 2017 is included below.

Operating Revenues. Time charter revenues were $0.5 million higher compared with the preceding quarter. On a total fleet basis, time charter revenues increased by $0.8 million from improved utilization, $0.7 million from net fleet additions and $0.3 million due to favorable changes in currency exchange rates. Time charter revenues decreased by $1.0 million due to a reduction in average rates per day worked and $0.3 million due to the repositioning of vessels between geographic regions. Other marine services revenues were $1.0 million higher compared with the preceding quarter primarily due to the collection in the fourth quarter of previously deferred revenues.

On a total fleet basis, excluding wind farm utility vessels but including cold-stacked vessels, utilization of the fleet increased from 49% to 51%, and average rates per day worked increased from $8,565 to $8,583. Days available for charter were 1% higher in the fourth quarter primarily due to net fleet additions.

Direct Vessel Profit (“DVP”)⁽¹⁾ by Region. DVPwas $11.7 million compared with $9.4 million in the preceding quarter, an increase of $2.3 million. In addition to improved operating revenues of $1.5 million, operating expenses (excluding leased-in equipment) were $0.8 million lower compared with the preceding quarter. Results by region are as follows:

United States, primarily Gulf of Mexico. Direct vessel profit was $1.3 million compared with direct vessel loss of $2.1 million in the preceding quarter, a $3.4 million improvement of which $1.7 million was associated with the liftboat fleet. Time charter revenues were $1.0 million higher compared with the preceding quarter. On a total fleet basis, time charter revenues increased by $0.7 million from improved utilization and $0.3 million from fleet additions. On a total fleet basis, including cold-stacked vessels, utilization of the fleet increased from 16% to 18%, and average rates per day worked improved by 11% from $7,212 to $8,027. Days available for charter were materially unchanged. Operating expenses (excluding leased-in equipment) were $2.4 million lower compared with the preceding quarter. Personnel costs were $0.6 million lower primarily due to the cold-stacking of additional vessels. Repairs and maintenance and drydocking expenses were $1.9 million lower primarily due to costs associated with the reactivating of previously cold-stacked vessels during the preceding quarter. As of December 31, 2017, the Company had 34 of 42 owned and leased-in vessels cold-stacked in the U.S. (ten anchor handling towing supply vessels, 13 fast support vessels, nine liftboats, one supply vessel and one specialty vessel) compared with 31 of 42 vessels as of September 30, 2017. As of December 31, 2017, the Company had one supply vessel retired and removed from service in this region.

Africa, primarily West Africa. DVP was $3.8 million compared with $2.6 million in the preceding quarter, a $1.2 million improvement. Time charter revenues were $0.2 million lower compared with the preceding quarter. On a total fleet basis, time charter revenues decreased by $0.2 million due to reduced utilization, $0.1 million due to a reduction in average day rates and $0.4 million due to the repositioning of vessels between geographic regions. Time charter revenues were $0.5 million higher due to fleet additions. On a total fleet basis, including cold-stacked vessels, utilization of the fleet increased from 71% to 75%, and average rates per day worked decreased by 1% from $10,611 to $10,517. Days available for charter decreased by 5% in the fourth quarter primarily due to the retirement and removal from service of one vessel. Other marine services revenues were $1.3 million higher compared with the preceding quarter primarily due to the collection in the fourth quarter of previously deferred revenues. As of December 31, 2017, the Company did not have any of its 16 owned and leased-in vessels cold-stacked in Africa compared with one of 14 vessels as of September 30, 2017. As of December 31, 2017, the Company had one fast support vessel and one specialty vessel retired and removed from service in this region.

Middle East and Asia. Direct vessel loss was $0.2 million compared with $0.5 million in the preceding quarter, including an improvement of $1.7 million on the liftboat fleet and a decline of $1.9 million on the fast support fleet. Time charter revenues were $1.2 million higher compared with the preceding quarter. Time charter revenues were $2.1 million higher due to increased utilization, $0.1 million higher due to the repositioning of vessels between geographic regions and $1.0 million lower due to a decrease in average rates per day worked. On a total fleet basis, including cold-stacked vessels, utilization of the fleet increased from 61% to 68%, and average rates per day worked decreased by 5% from $7,138 to $6,784. Days available for charter increased by 6% primarily due to the repositioning of vessels between geographic regions. Operating expenses (excluding leased-in equipment) were $1.1 million higher compared with the preceding quarter primarily due to increased drydocking activity on the fast support fleet and the repositioning of vessels between geographic regions. As of December 31, 2017, the Company had two of 25 owned and leased-in vessels cold-stacked in the Middle East and Asia (one anchor handling towing supply vessel and one wind farm utility vessel) compared with one of 25 vessels as of September 30, 2017. As of December 31, 2017, the Company had one specialty vessel retired and removed from service in this region.

Brazil, Mexico, Central and South America. DVP was $2.1 million compared with $2.2 million in the preceding quarter. Time charter revenues were $0.1 million higher compared with the preceding quarter. On a total fleet basis, including cold-stacked vessels, utilization of the fleet increased from 49% to 50%, average rates per day worked increased from $16,060 to $16,718 and days available for charter were unchanged. Operating expenses (excluding leased-in equipment) were $0.2 million higher compared with the preceding quarter. As of December 31, 2017 and September 30, 2017, the Company had one of four owned and leased-in vessels cold-stacked in Brazil, Mexico, Central and South America (one fast support vessel).

Europe, primarily North Sea. DVP was $4.7 million compared with $7.2 million in the preceding quarter, a decrease of $2.5 million. Time charter revenues were $1.7 million lower primarily due to a seasonal reduction in utilization of the wind farm utility vessels. For the standby safety fleet, utilization decreased from 84% to 82%, and average rates per day worked increased from $8,650 to $8,660. For the wind farm utility vessels, utilization decreased from 94% to 73%, and average rates per day worked increased from $2,221 to $2,330. As of December 31, 2017, the Company had 19 owned standby safety vessels and 35 owned wind farm utility vessels in Europe.

___________________
(1)			Direct vessel profit (defined as operating revenues less operating expenses excluding leased-in equipment, “DVP”) is the Company’s measure of segment profitability when applied to reportable segments and a non-GAAP measure when applied to individual vessels, fleet categories or the combined fleet. DVP is a critical financial measure used by the Company to analyze and compare the operating performance of its individual vessels, fleet categories, regions and combined fleet, without regard to financing decisions (depreciation for owned vessels vs. leased-in expense for leased-in vessels). DVP is also useful when comparing the Company’s fleet performance against those of our competitors who may have differing fleet financing structures. DVP has material limitations as an analytical tool in that it does not reflect all of the costs associated with the operation of our fleet, and it should not be considered in isolation or used as a substitute for our results as reported under GAAP.

Administrative and general. Administrative and general expenses were $2.0 million higher compared with the preceding quarter primarily due to higher director compensation costs and higher legal and professional fees.

Depreciation and amortization. Depreciation and amortization costs were $4.4 million higher compared with the preceding quarter, of which $2.8 million was associated with the fourth quarter reduction in the depreciable lives of three offshore support vessels to their next regulatory survey dates in 2018.

Asset Dispositions and Impairments. During the fourth quarter, the Company recognized impairment charges of $11.8 million associated with the Company’s anchor handling towing supply fleet. In addition, the Company sold three offshore support vessels previously retired and removed from service and one other offshore support vessel for net proceeds of $0.7 million and losses of $0.5 million. During the preceding quarter, the Company recognized impairment charges of $9.9 million associated with one fast support vessel removed from service and two specialty vessels. In addition, the Company sold two offshore support vessels previously retired and removed from service and other equipment for net proceeds of $0.2 million and gains of $0.2 million.

Derivative gains (losses). Net derivative gains during the fourth quarter and preceding quarter of $7.5 million and $13.0 million, respectively, were primarily due to reductions in the fair value of the Company’s conversion option liability on its 3.75% Convertible Senior Notes. The reductions in the conversion option liability were primarily the result of declines in the Company’s share price and estimated credit spread.

Income tax benefit. The Company’s effective income tax rate of 156% in the fourth quarter was higher than the Company’s statutory rate of 35% primarily due to income tax benefits of $43.7 million recognized as a result of new U.S. tax legislation signed into law on December 22, 2017. The majority of the income tax benefits recognized were due to a reduction in U.S. tax rates from 35% to 21% applied to the Company’s domestic basis differences and the elimination of previously accrued deferred taxes on the unremitted earnings of the Company’s foreign subsidiaries.

Equity in earnings (losses) of 50% or less owned companies. Equity earnings of $9.4 million in the fourth quarter included income tax benefits of $7.1 million recognized as a result of new U.S. tax legislation. The majority of the income tax benefits recognized were due to a reduction in U.S. tax rates from 35% to 21% applied to the Company’s basis differences in its domestic joint ventures and the elimination of previously accrued deferred taxes on the unremitted earnings of the Company’s foreign joint ventures. Equity losses of $7.3 million in the preceding quarter included an impairment charge of $8.3 million, net of tax, related to the Company’s investment in Dynamic Offshore Drilling Ltd.

Capital Commitments. As of December 31, 2017, the Company had capital commitments of $66.7 million that included four fast support vessels, three supply vessels and two wind farm utility vessels. The delivery dates and payment of certain costs (originally scheduled for payment in 2018, 2019 and 2020) for two of the fast support vessels are uncertain as the Company, at its option, may defer their construction for an indefinite period of time. The Company’s capital commitments by year of expected payment are as follows (in thousands):

2018			13,435
2019			21,919
2020			10,696
Deferred (estimated based on current construction pricing)			20,697
			$	66,747

Subsequent to December 31, 2017, the Company committed an additional $11.0 million ($10.1 million to be paid in 2018 and $0.9 million to be paid in 2019) to acquire two additional wind farm utility vessels and convert two of its existing supply vessels to a standby safety configuration.

On January 17, 2018, the Company announced the formation of SEACOSCO Offshore LLC (“SEACOSCO”), a Marshall Islands entity jointly owned by the Company and affiliates of COSCO SHIPPING GROUP, the world’s largest ship owner. SEACOSCO entered into contracts for the purchase of eight Rolls-Royce designed, new construction platform supply vessels. The Company’s total committed investment for construction and working capital requirements is approximately $27.5 million, with approximately $20.0 million payable in the first quarter of 2018 and the remaining balance due over the next 14 months.

Liquidity and Debt. As of December 31, 2017, the Company’s balances of cash, cash equivalents, restricted cash, and construction reserve funds totaled $157.9 million and its total outstanding debt was $314.9 million (net of $33.2 million in discount and issue costs).

On February 9, 2018, the Company announced the formation and capitalization of a joint venture between a wholly owned subsidiary of the Company and Montco Offshore, LLC (“MOI”). The transaction consolidates the fifteen liftboat vessels operated by the Company and six liftboat vessels previously operated by MOI. The consolidated joint venture paid $15.0 million of MOI’s debtor-in-possession obligations and entered into a $131.1 million credit agreement on a non-recourse basis with SEACOR Marine, comprised of a $116.1 million term loan and a $15.0 million revolving loan facility.

SEACOR Marine provides global marine and support transportation services to offshore oil and natural gas exploration, development and production facilities worldwide. SEACOR Marine and its joint ventures operate a diverse fleet of offshore support and specialty vessels that deliver cargo and personnel to offshore installations; handle anchors and mooring equipment required to tether rigs to the seabed; tow rigs and assist in placing them on location and moving them between regions; provide construction, well workover and decommissioning support; and carry and launch equipment used underwater in drilling and well installation, maintenance and repair. Additionally, SEACOR Marine’s vessels provide accommodations for technicians and specialists, safety support and emergency response services.

Certain statements discussed in this release as well as in other reports, materials and oral statements that the Company releases from time to time to the public constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Generally, words such as “anticipate,” “estimate,” “expect,” “project,” “intend,” “believe,” “plan,” “target,” “forecast” and similar expressions are intended to identify forward-looking statements. Such forward-looking statements concern management’s expectations, strategic objectives, business prospects, anticipated economic performance and financial condition and other similar matters. These statements are not guarantees of future performance and actual events or results may differ significantly from these statements. Actual events or results are subject to significant known and unknown risks, uncertainties and other important factors, including decreased demand and loss of revenues as a result of a decline in the price of oil and resulting decrease in capital spending by oil and gas companies, an oversupply of newly built offshore support vessels, additional safety and certification requirements for drilling activities in the U.S. Gulf of Mexico and delayed approval of applications for such activities, the possibility of U.S. government implemented moratoriums directing operators to cease certain drilling activities in the U.S. Gulf of Mexico and any extension of such moratoriums, weakening demand for the Company’s services as a result of unplanned customer suspensions, cancellations, rate reductions or non-renewals of vessel charters or failures to finalize commitments to charter vessels in response to a decline in the price of oil, increased government legislation and regulation of the Company’s businesses could increase cost of operations, increased competition if the Jones Act and related regulations are repealed, liability, legal fees and costs in connection with the provision of emergency response services, such as the response to the oil spill as a result of the sinking of the Deepwater Horizon in April 2010, decreased demand for the Company’s services as a result of declines in the global economy, declines in valuations in the global financial markets and a lack of liquidity in the credit sectors, including, interest rate fluctuations, availability of credit, inflation rates, change in laws, trade barriers, commodity prices and currency exchange fluctuations, the cyclical nature of the oil and gas industry, activity in foreign countries and changes in foreign political, military and economic conditions, changes to the status of applicable trade treaties including as a result of the U.K.’s impending exit from the European Union, changes in foreign and domestic oil and gas exploration and production activity, safety record requirements, compliance with U.S. and foreign government laws and regulations, including environmental laws and regulations and economic sanctions, the dependence on several key customers, consolidation of the Company’s customer base, the ongoing need to replace aging vessels, industry fleet capacity, restrictions imposed by the Jones Act and related regulations on the amount of foreign ownership of the Company’s Common Stock, operational risks, effects of adverse weather conditions and seasonality, adequacy of insurance coverage, the ability of the Company to achieve and maintain effective internal controls over financial reporting in accordance with Section 404 of the Sarbanes-Oxley Act, the attraction and retention of qualified personnel by the Company, and various other matters and factors, many of which are beyond the Company’s control as well as those discussed in Item 1A (Risk Factors) of the Company’s Annual Report on Form 10-K and other reports filed by the Company with the SEC. It should be understood that it is not possible to predict or identify all such factors. Consequently, the preceding should not be considered to be a complete discussion of all potential risks or uncertainties and investors and analysts should not place undue reliance on forward-looking statements. Forward-looking statements speak only as of the date of the document in which they are made. The Company disclaims any obligation or undertaking to provide any updates or revisions to any forward-looking statement to reflect any change in the Company’s expectations or any change in events, conditions or circumstances on which the forward-looking statement is based, except as required by law. It is advisable, however, to consult any further disclosures the Company makes on related subjects in its filings with the Securities and Exchange Commission, including Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K (if any). These statements constitute the Company’s cautionary statements under the Private Securities Litigation Reform Act of 1995.

Please visit SEACOR Marine’s website at www.seacormarine.com for additional information.
For all other requests, contact Erica Bartsch at (212) 446-1875 or ebartsch@seacormarine.com.

SEACOR MARINE HOLDINGS INC.
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (LOSS)
(in thousands, except share data, unaudited)
		Three Months Ended								Years Ended
		December 31,								December 31,
		2017				2016				2017				2016
Operating Revenues		$	49,343			$	44,361			$	173,783			$	215,636
Costs and Expenses:
Operating		40,480				32,671				159,599				166,925
Administrative and general		12,368				14,393				56,217				49,308
Depreciation and amortization		20,021				13,764				62,779				58,069
		72,869				60,828				278,595				274,302
Losses on Asset Dispositions and Impairments, Net		(12,304		)		(66,252		)		(23,547		)		(116,222		)
Operating Loss		(35,830		)		(82,719		)		(128,359		)		(174,888		)
Other Income (Expense):
Interest income		326				1,087				1,805				4,458
Interest expense		(4,509		)		(2,553		)		(16,532		)		(10,008		)
SEACOR Holdings management fees		—				(1,925		)		(3,208		)		(7,700		)
SEACOR Holdings guarantee fees		(29		)		(78		)		(201		)		(315		)
Marketable security gains (losses), net		—				4,413				10,931				(45		)
Derivative gains (losses), net		7,536				(82		)		20,256				2,995
Foreign currency gains (losses), net		(320		)		151				(1,709		)		(3,312		)
Other, net		(5		)		(1,756		)		(6		)		(1,490		)
		2,999				(743		)		11,336				(15,417		)
Loss Before Income Tax Benefit and Equity in Earnings (Losses) of 50% or Less Owned Companies		(32,831		)		(83,462		)		(117,023		)		(190,305		)
Income Tax Benefit		(51,361		)		(27,638		)		(74,406		)		(63,469		)
Income (Loss) Before Equity in Earnings (Losses) of 50% or Less Owned Companies		18,530				(55,824		)		(42,617		)		(126,836		)
Equity in Earnings (Losses) of 50% or Less Owned Companies, Net of Tax		9,374				(5,950		)		4,077				(6,314		)
Net Income (Loss)		27,904				(61,774		)		(38,540		)		(133,150		)
Net Loss attributable to Noncontrolling Interests in Subsidiaries		(1,057		)		(199		)		(5,639		)		(1,103		)
Net Income (Loss) attributable to SEACOR Marine Holdings Inc.		$	28,961			$	(61,575	)		$	(32,901	)		$	(132,047	)
Income (Loss) Per Common Share of SEACOR Marine Holdings Inc.:
Basic		$	1.65			$	(3.48	)		$	(1.87	)		$	(7.47	)
Diluted		$	1.20			$	(3.48	)		$	(1.87	)		$	(7.47	)
Weighted Average Common Shares Outstanding:
Basic		17,551,935				17,671,356				17,601,244				17,671,356
Diluted		21,628,850				17,671,356				17,601,244				17,671,356

SEACOR MARINE HOLDINGS INC.
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (LOSS)
(in thousands, except statistics and per share data, unaudited)
		Three Months Ended
		Dec. 31,				Sep. 30,				Jun. 30,				Mar. 31,				Dec. 31,
		2017				2017				2017				2017				2016
Time Charter Statistics:
Average Rates Per Day Worked (excluding wind farm utility)		$	8,583			$	8,565			$	8,431			$	8,272			$	9,093
Average Rates Per Day Worked		$	6,435			$	6,006			$	5,649			$	5,726			$	6,308
Fleet Utilization (excluding wind farm utility)			51	%			49	%			43	%			38	%			39	%
Fleet Utilization			56	%			60	%			56	%			46	%			47	%
Fleet Available Days (excluding wind farm utility)			9,224				9,176				8,996				8,437				9,386
Fleet Available Days			12,628				12,580				12,363				11,767				12,790
Operating Revenues:
Time charter		$	45,745			$	45,267			$	38,803			$	30,730			$	38,047
Bareboat charter			1,169				1,168				1,156				1,143				1,169
Other marine services			2,429				1,378				2,364				2,431				5,145
			49,343				47,813				42,323				34,304				44,361
Costs and Expenses:
Operating, excluding leased-in equipment			37,649				38,422				40,792				29,788				28,459
Operating, leased-in equipment			2,831				2,836				3,690				3,591				4,212
Administrative and general			12,368				10,318				21,705				11,826				14,393
Depreciation and amortization			20,021				15,622				14,633				12,503				13,764
			72,869				67,198				80,820				57,708				60,828
Gains (Losses) on Asset Dispositions and Impairments, Net			(12,304	)			(9,744	)			(6,318	)			4,819				(66,252	)
Operating Loss			(35,830	)			(29,129	)			(44,815	)			(18,585	)			(82,719	)
Other Income (Expense):
Interest income			326				354				275				850				1,087
Interest expense			(4,509	)			(4,295	)			(4,546	)			(3,182	)			(2,553	)
SEACOR Holdings management fees			—				—				(1,283	)			(1,925	)			(1,925	)
SEACOR Holdings guarantee fees			(29	)			(21	)			(75	)			(76	)			(78	)
Marketable security gains (losses), net			—				(698	)			(109	)			11,738				4,413
Derivative gains (losses), net			7,536				13,022				(213	)			(89	)			(82	)
Foreign currency gains (losses), net			(320	)			(106	)			(1,094	)			(189	)			151
Other, net			(5	)			—				—				(1	)			(1,756	)
			2,999				8,256				(7,045	)			7,126				(743	)
Loss Before Income Tax Benefit and Equity in Earnings (Losses) of 50% or Less Owned Companies			(32,831	)			(20,873	)			(51,860	)			(11,459	)			(83,462	)
Income Tax Benefit			(51,361	)			(5,823	)			(13,800	)			(3,422	)			(27,638	)
Income (Loss) Before Equity in Earnings (Losses) of 50% or Less Owned Companies			18,530				(15,050	)			(38,060	)			(8,037	)			(55,824	)
Equity in Earnings (Losses) of 50% or Less Owned Companies, Net of Tax			9,374				(7,306	)			1,571				438				(5,950	)
Net Income (Loss)			27,904				(22,356	)			(36,489	)			(7,599	)			(61,774	)
Net Loss attributable to Noncontrolling Interests in Subsidiaries			(1,057	)			(1,881	)			(2,497	)			(204	)			(199	)
Net Income (Loss) attributable to SEACOR Marine Holdings Inc.		$	28,961			$	(20,475	)		$	(33,992	)		$	(7,395	)		$	(61,575	)
Income (Loss) Per Common Share of SEACOR Marine Holdings Inc.:
Basic		$	1.65			$	(1.17	)		$	(1.93	)		$	(0.42	)		$	(3.48	)
Diluted		$	1.20			$	(1.25	)		$	(1.93	)		$	(0.42	)		$	(3.48	)
Weighted Average Common Shares of Outstanding:
Basic			17,552				17,551				17,632				17,671				17,671
Diluted			21,629				21,621				17,632				17,671				17,671
Common Shares Outstanding at Period End			17,675				17,671				17,671				17,671				17,671

SEACOR MARINE HOLDINGS INC.
DIRECT VESSEL PROFIT (“DVP”) BY REGION
(in thousands, except statistics, unaudited)
		Three Months Ended
		Dec. 31,				Sep. 30,				Jun. 30,				Mar. 31,				Dec. 31,
		2017				2017				2017				2017				2016
United States, primarily Gulf of Mexico
Time Charter Statistics:
Average rates per day worked		$	8,027			$	7,212			$	9,619			$	10,133			$	9,316
Fleet utilization		18		%		16		%		13		%		7		%		7		%
Fleet available days		3,864				3,859				4,063				3,998				4,169
Out-of-service days for repairs, maintenance and drydockings		139				338				221				159				32
Out-of-service days for cold-stacked status		3,010				2,746				3,070				3,456				3,794
Operating revenues:
Time charter		$	5,608			$	4,587			$	4,889			$	2,995			$	2,694
Other marine services		1,077				1,116				1,198				826				906
		6,685				5,703				6,087				3,821				3,600
Direct operating expenses:
Personnel		3,853				4,455				4,183				3,130				3,310
Repairs and maintenance		631				1,289				937				737				551
Drydocking		(164		)		1,109				310				573				19
Insurance and loss reserves		678				598				1,205				805				484
Fuel, lubes and supplies		381				249				545				310				112
Other		3				123				51				72				(36		)
		5,382				7,823				7,231				5,627				4,440
Direct Vessel Profit (Loss)		$	1,303			$	(2,120	)		$	(1,144	)		$	(1,806	)		$	(840	)
Leased-in equipment (included in operating costs and expenses)		$	1,866			$	1,870			$	2,205			$	2,211			$	2,215
Depreciation and amortization		$	5,487			$	5,224			$	5,749			$	5,600			$	6,529
Africa, primarily West Africa
Time Charter Statistics:
Average rates per day worked		$	10,517			$	10,611			$	10,348			$	9,388			$	10,511
Fleet utilization		75		%		71		%		67		%		61		%		53		%
Fleet available days		1,207				1,283				1,123				1,019				1,445
Out-of-service days for repairs, maintenance and drydockings		34				79				125				19				56
Out-of-service days for cold-stacked status		92				184				91				180				507
Operating revenues:
Time charter		$	9,533			$	9,700			$	7,786			$	5,847			$	8,072
Other marine services		983				(310		)		215				192				582
		10,516				9,390				8,001				6,039				8,654
Direct operating expenses:
Personnel		3,795				3,588				3,428				2,608				3,024
Repairs and maintenance		855				1,324				3,234				544				694
Drydocking		129				311				683				1,057				(103		)
Insurance and loss reserves		(19		)		157				357				182				144
Fuel, lubes and supplies		859				693				704				559				790
Other		1,098				704				871				646				221
		6,717				6,777				9,277				5,596				4,770
Direct Vessel Profit (Loss)		$	3,799			$	2,613			$	(1,276	)		$	443			$	3,884
Leased-in equipment (included in operating costs and expenses)		$	965			$	966			$	969			$	970			$	972
Depreciation and amortization		$	3,175			$	2,456			$	2,059			$	1,590			$	1,849

SEACOR MARINE HOLDINGS INC.
DIRECT VESSEL PROFIT (“DVP”) BY REGION (continued)
(in thousands, except statistics, unaudited)
		Three Months Ended
		Dec. 31,				Sep. 30,				Jun. 30,				Mar. 31,				Dec. 31,
		2017				2017				2017				2017				2016
Middle East and Asia
Time Charter Statistics:
Average rates per day worked		$	6,784			$	7,138			$	6,580			$	7,017			$	9,083
Fleet utilization		68		%		61		%		55		%		49		%		58		%
Fleet available days		2,331				2,194				2,067				1,710				1,932
Out-of-service days for repairs, maintenance and drydockings		104				95				122				50				3
Out-of-service days for cold-stacked status		119				184				304				320				186
Operating revenues:
Time charter		$	10,682			$	9,490			$	7,415			$	5,823			$	10,187
Other marine services		(171		)		(341		)		109				877				2,935
		10,511				9,149				7,524				6,700				13,122
Direct operating expenses:
Personnel		4,882				4,731				4,147				3,123				4,367
Repairs and maintenance		2,205				2,309				3,947				576				1,539
Drydocking		554				(102		)		358				158				5
Insurance and loss reserves		382				363				353				346				118
Fuel, lubes and supplies		1,180				1,115				908				524				802
Other		1,522				1,192				1,061				1,465				851
		10,725				9,608				10,774				6,192				7,682
Direct Vessel Profit (Loss)		$	(214	)		$	(459	)		$	(3,250	)		$	508			$	5,440
Leased-in equipment (included in operating costs and expenses)		$	—			$	—			$	516			$	346			$	836
Depreciation and amortization		$	6,898			$	4,320			$	3,979			$	2,527			$	2,510
Brazil, Mexico, Central and South America
Time Charter Statistics:
Average rates per day worked		$	16,718			$	16,060			$	—			$	—			$	—
Fleet utilization		50		%		49		%		—		%		—		%		—		%
Fleet available days		184				184				105				90				184
Out-of-service days for cold-stacked status		92				92				91				90				184
Operating revenues:
Time charter		$	1,538			$	1,439			$	—			$	—			$	—
Bareboat charter		1,169				1,168				1,156				1,143				1,169
Other marine services		156				159				162				75				76
		2,863				2,766				1,318				1,218				1,245
Direct operating expenses:
Personnel		322				326				148				13				24
Repairs and maintenance		44				110				116				4				5
Insurance and loss reserves		230				75				4				7				6
Fuel, lubes and supplies		163				33				27				—				(172		)
Other		44				69				3				1				—
		803				613				298				25				(137		)
Direct Vessel Profit		$	2,060			$	2,153			$	1,020			$	1,193			$	1,382
Leased-in equipment (included in operating costs and expenses)		$	—			$	—			$	—			$	—			$	(1	)
Depreciation and amortization		$	1,134			$	1,025			$	784			$	665			$	755

SEACOR MARINE HOLDINGS INC.
DIRECT VESSEL PROFIT (“DVP”) BY REGION (continued)
(in thousands, except statistics, unaudited)
		Three Months Ended
		Dec. 31,				Sep. 30,				Jun. 30,				Mar. 31,				Dec. 31,
		2017				2017				2017				2017				2016
Europe, primarily North Sea
Time Charter Statistics:
Average rates per day worked - Standby safety		$	8,660			$	8,650			$	8,457			$	8,131			$	8,284
Fleet utilization - Standby safety		82		%		84		%		80		%		80		%		81		%
Fleet available days - Standby safety		1,822				1,840				1,820				1,800				1,840
Average rates per day worked - Wind farm utility		2,330				2,221				2,124				2,005				1,991
Fleet utilization - Wind farm utility		73		%		94		%		95		%		69		%		73		%
Fleet available days - Wind farm utility		3,220				3,220				3,185				3,150				3,220
Out-of-service days for repairs, maintenance and drydockings		249				110				124				173				130
Operating revenues:
Time charter		$	18,384			$	20,051			$	18,713			$	16,065			$	17,094
Other marine services		384				754				680				461				646
		18,768				20,805				19,393				16,526				17,740
Direct operating expenses:
Personnel		9,101				9,079				8,671				7,917				8,157
Repairs and maintenance		2,490				2,378				2,191				1,734				1,955
Drydocking		919				961				900				1,279				210
Insurance and loss reserves		172				203				207				219				240
Fuel, lubes and supplies		1,037				790				1,006				949				907
Other		303				190				237				250				235
		14,022				13,601				13,212				12,348				11,704
Direct Vessel Profit		$	4,746			$	7,204			$	6,181			$	4,178			$	6,036
Leased-in equipment (included in operating costs and expenses)		$	—			$	—			$	—			$	64			$	190
Depreciation and amortization		$	3,327			$	2,597			$	2,062			$	2,121			$	2,122

SEACOR MARINE HOLDINGS INC.
DIRECT VESSEL PROFIT (“DVP”) BY VESSEL CLASS
(in thousands, except statistics, unaudited)
		Three Months Ended
		Dec. 31,				Sep. 30,				Jun. 30,				Mar. 31,				Dec. 31,
		2017				2017				2017				2017				2016
Anchor handling towing supply
Time Charter Statistics:
Average rates per day worked		$	10,322			$	9,766			$	10,774			$	13,341			$	13,686
Fleet utilization		21		%		25		%		24		%		15		%		20		%
Fleet available days		1,288				1,288				1,274				1,260				1,564
Out-of-service days for repairs, maintenance and drydockings		5				69				43				15				16
Out-of-service days for cold-stacked status		943				851				856				958				1,143
Operating revenues:
Time charter		$	2,849			$	3,199			$	3,299			$	2,570			$	4,178
Other marine services		698				(88		)		(50		)		(163		)		(200		)
		3,547				3,111				3,249				2,407				3,978
Direct operating expenses:
Personnel		2,381				2,388				2,745				2,494				3,134
Repairs and maintenance		498				565				990				497				471
Drydocking		(30		)		125				62				348				(104		)
Insurance and loss reserves		195				176				307				357				282
Fuel, lubes and supplies		446				158				317				416				281
Other		(499		)		(170		)		(425		)		(284		)		(629		)
		2,991				3,242				3,996				3,828				3,435
Direct Vessel Profit (Loss)		$	556			$	(131	)		$	(747	)		$	(1,421	)		$	543
Leased-in equipment (included in operating costs and expenses)		$	1,862			$	1,866			$	1,869			$	1,873			$	1,876
Depreciation and amortization		$	2,430			$	2,419			$	2,418			$	2,419			$	3,600
Fast support
Time Charter Statistics:
Average rates per day worked		$	7,414			$	7,999			$	8,086			$	7,417			$	7,875
Fleet utilization		52		%		49		%		43		%		44		%		47		%
Fleet available days		3,864				3,885				3,684				3,212				3,312
Out-of-service days for repairs, maintenance and drydockings		155				208				242				83				46
Out-of-service days for cold-stacked status		1,324				1,447				1,580				1,439				1,560
Operating revenues:
Time charter		$	14,845			$	15,271			$	12,712			$	10,542			$	12,280
Other marine services		(399		)		(410		)		152				853				1,266
		14,446				14,861				12,864				11,395				13,546
Direct operating expenses:
Personnel		5,717				5,405				4,815				4,010				4,424
Repairs and maintenance		1,853				2,680				5,893				709				1,748
Drydocking		684				247				979				1,010				29
Insurance and loss reserves		129				297				381				462				213
Fuel, lubes and supplies		849				975				990				612				515
Other		2,356				1,610				1,527				1,324				1,007
		11,588				11,214				14,585				8,127				7,936
Direct Vessel Profit (Loss)		$	2,858			$	3,647			$	(1,721	)		$	3,268			$	5,610
Leased-in equipment (included in operating costs and expenses)		$	343			$	343			$	860			$	690			$	1,161
Depreciation and amortization		$	6,521			$	5,000			$	4,403			$	3,418			$	3,108

SEACOR MARINE HOLDINGS INC.
DIRECT VESSEL PROFIT (“DVP”) BY VESSEL CLASS (continued)
(in thousands, except statistics, unaudited)
		Three Months Ended
		Dec. 31,				Sep. 30,				Jun. 30,				Mar. 31,				Dec. 31,
		2017				2017				2017				2017				2016
Supply
Time Charter Statistics:
Average rates per day worked		$	5,222			$	6,279			$	6,028			$	11,707			$	6,298
Fleet utilization		81		%		65		%		48		%		20		%		19		%
Fleet available days		594				507				580				630				953
Out-of-service days for repairs, maintenance and drydockings		2				36				3				—				29
Out-of-service days for cold-stacked status		25				99				182				194				446
Operating revenues:
Time charter		$	2,527			$	2,062			$	1,679			$	1,457			$	1,140
Other marine services		1,122				1,079				1,069				1,077				1,222
		3,649				3,141				2,748				2,534				2,362
Direct operating expenses:
Personnel		1,604				1,321				1,198				1,055				1,219
Repairs and maintenance		266				321				362				200				186
Drydocking		—				—				—				—				(2		)
Insurance and loss reserves		210				26				34				74				66
Fuel, lubes and supplies		632				194				156				171				260
Other		348				158				252				954				297
		3,060				2,020				2,002				2,454				2,026
Direct Vessel Profit		$	589			$	1,121			$	746			$	80			$	336
Leased-in equipment (included in operating costs and expenses)		$	—			$	—			$	331			$	332			$	332
Depreciation and amortization		$	3,566			$	1,226			$	1,278			$	1,295			$	1,637
Standby safety
Time Charter Statistics:
Average rates per day worked		$	8,660			$	8,650			$	8,457			$	8,131			$	8,284
Fleet utilization		82		%		84		%		80		%		80		%		81		%
Fleet available days		1,822				1,840				1,820				1,800				1,840
Out-of-service days for repairs, maintenance and drydockings		78				96				108				87				27
Operating revenues:
Time charter		$	12,921			$	13,328			$	12,279			$	11,695			$	12,403
Other marine services		38				32				36				33				33
		12,959				13,360				12,315				11,728				12,436
Direct operating expenses:
Personnel		6,901				6,955				6,698				6,334				6,477
Repairs and maintenance		1,570				1,943				1,610				1,208				1,388
Drydocking		919				960				900				1,280				209
Insurance and loss reserves		106				116				137				136				96
Fuel, lubes and supplies		894				723				844				825				789
Other		220				156				199				197				184
		10,610				10,853				10,388				9,980				9,143
Direct Vessel Profit		$	2,349			$	2,507			$	1,927			$	1,748			$	3,293
Depreciation and amortization		$	769			$	578			$	566			$	559			$	590

SEACOR MARINE HOLDINGS INC.
DIRECT VESSEL PROFIT (“DVP”) BY VESSEL CLASS (continued)
(in thousands, except statistics, unaudited)
		Three Months Ended
		Dec. 31,				Sep. 30,				Jun. 30,				Mar. 31,				Dec. 31,
		2017				2017				2017				2017				2016
Specialty
Time Charter Statistics:
Average rates per day worked		$	—			$	—			$	12,000			$	—			$	37,024
Fleet utilization		—		%		—		%		5		%		—		%		23		%
Fleet available days		276				276				273				270				337
Out-of-service days for repairs, maintenance and drydockings		24				25				7				—				—
Out-of-service days for cold-stacked status		160				159				182				239				123
Operating revenues:
Time charter		$	(1	)		$	—			$	149			$	—			$	2,891
Other marine services		1				268				278				—				1,464
		—				268				427				—				4,355
Direct operating expenses:
Personnel		472				413				316				265				989
Repairs and maintenance		77				40				56				40				246
Drydocking		(136		)		736				—				—				—
Insurance and loss reserves		102				21				35				61				73
Fuel, lubes and supplies		20				92				59				70				377
Other		85				84				98				149				303
		620				1,386				564				585				1,988
Direct Vessel Profit (Loss)		$	(620	)		$	(1,118	)		$	(137	)		$	(585	)		$	2,367
Leased-in equipment (included in operating costs and expenses)		$	—			$	—			$	—			$	—			$	20
Depreciation and amortization		$	283			$	579			$	579			$	581			$	488
Liftboats
Time Charter Statistics:
Average rates per day worked		16,662				11,899				10,315				9,782				13,486
Fleet utilization		30		%		28		%		16		%		1		%		1		%
Fleet available days		1,380				1,380				1,365				1,265				1,380
Out-of-service days for repairs, maintenance and drydockings		$	92			$	174			$	173			$	130			$	—
Out-of-service days for cold-stacked status		771				551				605				1,059				1,336
Operating revenues:
Time charter		$	6,954			$	4,659			$	2,251			$	95			$	96
Other marine services		393				447				384				41				7
		7,347				5,106				2,635				136				103
Direct operating expenses:
Personnel		2,577				3,394				2,748				1,006				781
Repairs and maintenance		990				1,288				915				405				104
Drydocking		1				211				310				429				—
Insurance and loss reserves		722				684				1,167				375				231
Fuel, lubes and supplies		632				646				667				122				79
Other		333				352				488				14				—
		5,255				6,575				6,295				2,351				1,195
Direct Vessel Profit (Loss)		$	2,092			$	(1,469	)		$	(3,660	)		$	(2,215	)		$	(1,092	)
Leased-in equipment (included in operating costs and expenses)		$	626			$	627			$	630			$	632			$	633
Depreciation and amortization		$	3,160			$	3,045			$	3,045			$	1,923			$	1,965

SEACOR MARINE HOLDINGS INC.
DIRECT VESSEL PROFIT (“DVP”) BY VESSEL CLASS (continued)
(in thousands, except statistics, unaudited)
		Three Months Ended
		Dec. 31,				Sep. 30,				Jun. 30,				Mar. 31,				Dec. 31,
		2017				2017				2017				2017				2016
Wind farm utility
Time Charter Statistics:
Average rates per day worked		$	2,318			$	2,220			$	2,124			$	2,005			$	2,104
Fleet utilization		72		%		89		%		90		%		65		%		71		%
Fleet available days		$	3,404			$	3,404			$	3,367			$	3,330			$	3,404
Out-of-service days for repairs, maintenance and drydockings		$	171			$	14			$	16			$	86			$	103
Out-of-service days for cold-stacked status		$	92			$	99			$	152			$	157			$	62
Operating revenues:
Time charter		$	5,650			$	6,748			$	6,434			$	4,371			$	5,059
Other marine services		295				688				583				362				553
		5,945				7,436				7,017				4,733				5,612
Direct operating expenses:
Personnel		2,295				2,265				2,036				1,642				1,839
Repairs and maintenance		969				575				599				536				601
Drydocking		—				—				—				—				(1		)
Insurance and loss reserves		74				89				83				89				147
Fuel, lubes and supplies		146				93				162				126				130
Other		121				87				80				88				102
		3,605				3,109				2,960				2,481				2,818
Direct Vessel Profit		$	2,340			$	4,327			$	4,057			$	2,252			$	2,794
Leased-in equipment (included in operating costs and expenses)		$	—			$	—			$	—			$	64			$	190
Depreciation and amortization		$	2,903			$	2,293			$	1,768			$	1,829			$	1,700
Other Activity
Operating revenues:
Other marine services		$	1,450			$	530			$	1,068			$	1,371			$	1,969
Direct operating expenses:
Personnel		6				38				21				(15		)		19
Repairs and maintenance		2				(2		)		—				—				—
Drydocking		—				—				—				—				—
Insurance and loss reserves		(95		)		(13		)		(18		)		5				(116		)
Fuel, lubes and supplies		1				(1		)		(5		)		—				8
Other		6				1				4				(8		)		7
		(80		)		23				2				(18		)		(82		)
Direct Vessel Profit		$	1,530			$	507			$	1,066			$	1,389			$	2,051
Depreciation and amortization		$	389			$	482			$	576			$	479			$	677

SEACOR MARINE HOLDINGS INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (NON-GAAP PRESENTATION)
(in thousands, unaudited)
		Three Months Ended
		Dec. 31,				Sep. 30,				Jun. 30,				Mar. 31,				Dec. 31,
		2017				2017				2017				2017				2016
Cash Flows from Operating Activities:
DVP		$	11,694			$	9,391			$	1,531			$	4,516			$	15,902
Operating, leased-in equipment (excluding amortization of deferred gains)		(4,840		)		(4,845		)		(5,740		)		(5,641		)		(6,262		)
Administrative and general (excluding provisions for bad debts and amortization of share awards)		(12,091		)		(11,139		)		(22,596		)		(10,267		)		(10,113		)
SEACOR Holdings management and guarantee fees		(29		)		(21		)		(1,358		)		(2,001		)		(2,003		)
Other, net (excluding non-cash losses)		(5		)		—				—				(1		)		(272		)
Dividends received from 50% or less owned companies		200				800				1,642				—				406
		(5,071		)		(5,814		)		(26,521		)		(13,394		)		(2,342		)
Changes in operating assets and liabilities before interest and income taxes		9,003				(14,428		)		8,300				3,415				7,111
Purchases of marketable securities		—				—				—				—				(14,321		)
Proceeds from sale of marketable securities		—				—				—				51,877				—
Cash settlements on derivative transactions, net		(140		)		(184		)		(166		)		(22		)		(285		)
Interest paid, excluding capitalized interest		(4,471		)		(1,119		)		(3,626		)		—				(2,280		)
Interest received		326				354				275				2,372				(291		)
Income taxes (paid) refunded, net		(52		)		2,599				10,178				21,048				(280		)
Net cash provided by (used in) operating activities (GAAP Measure)		(405		)		(18,592		)		(11,560		)		65,296				(12,688		)
Cash Flows from Investing Activities:
Purchases of property and equipment, excluding capitalized interest		(16,105		)		(22,796		)		(17,006		)		(9,484		)		(16,153		)
Capitalized interest paid		(563		)		(754		)		(1,654		)		(659		)		(1,925		)
Cash settlements on derivative transactions, net		—				(45		)		—				(324		)		(342		)
Proceeds from disposition of property and equipment		1,046				248				1,252				8,297				37,800
Construction reserve funds (deposits) withdrawals, net		94				22,344				15,678				(5,268		)		(16,310		)
Net investing activities in property and equipment		(15,528		)		(1,003		)		(1,730		)		(7,438		)		3,070
Net investing activities in 50% or less owned companies		(366		)		(773		)		(1,733		)		4,956				(8,661		)
Net investing activities in third party notes receivable		—				—				—				—				(380		)
Net decrease (increase) in restricted cash		(682		)		205				(13		)		(349		)		(67		)
Cash assumed on consolidation of 50% or less owned companies		—				—				—				1,943				—
Business acquisitions, net of cash acquired		—				—				(9,751		)		—				—
Net cash used in investing activities (GAAP Measure)		(16,576		)		(1,571		)		(13,227		)		(888		)		(6,038		)
Cash Flows from Financing Activities:
Payments on long-term debt		(3,354		)		(4,599		)		(2,800		)		(1,173		)		(2,027		)
Proceeds from issuance of debt, net of issue costs		(300		)		3,622				(173		)		3,396				6,564
Distribution of SEACOR Marine restricted stock to Company personnel by SEACOR Holdings		—				—				(2,656		)		—				—
Purchase of subsidiary shares from noncontrolling interests		—				—				(3,693		)		—				—
Net cash provided by (used in) financing activities (GAAP Measure)		(3,654		)		(977		)		(9,322		)		2,223				4,537
Effects of Exchange Rate Changes on Cash and Cash Equivalents		512				539				858				269				(979		)
Net Increase (Decrease) in Cash and Cash Equivalents		(20,123		)		(20,601		)		(33,251		)		66,900				(15,168		)
Cash and Cash Equivalents, Beginning of Period		130,357				150,958				184,209				117,309				132,477
Cash and Cash Equivalents, End of Period		$	110,234			$	130,357			$	150,958			$	184,209			$	117,309

SEACOR MARINE HOLDINGS INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands, unaudited)
		Dec. 31,				Sep. 30,				Jun. 30,				Mar. 31,				Dec. 31,
		2017				2017				2017				2017				2016
ASSETS
Current Assets:
Cash and cash equivalents		$	110,234			$	130,357			$	150,958			$	184,209			$	117,309
Restricted cash		2,317				1,619				1,824				1,811				1,462
Marketable securities		—				—				688				785				40,139
Receivables:
Trade, net of allowance for doubtful accounts		45,616				54,124				43,475				48,044				44,830
Due from SEACOR Holdings		—				—				—				—				19,102
Other		12,341				8,942				11,957				11,701				21,316
Inventories		3,756				3,786				3,376				3,421				3,058
Prepaid expenses and other		3,026				3,364				3,719				3,068				3,349
Total current assets		177,290				202,192				215,997				253,039				250,565
Property and Equipment:
Historical cost		1,179,836				1,204,409				1,155,155				1,089,176				958,759
Accumulated depreciation		(560,160		)		(558,919		)		(543,822		)		(534,522		)		(540,619		)
		619,676				645,490				611,333				554,654				418,140
Construction in progress		70,157				60,597				90,335				83,710				123,801
Net property and equipment		689,833				706,087				701,668				638,364				541,941
Investments, at Equity, and Advances to 50% or Less Owned Companies		92,169				89,984				100,719				114,767				138,311
Construction Reserve Funds		45,361				45,455				67,799				83,477				78,209
Other Assets		3,851				6,213				6,072				6,176				6,093
		$	1,008,504			$	1,049,931			$	1,092,255			$	1,095,823			$	1,015,119
LIABILITIES AND EQUITY
Current Liabilities:
Current portion of long-term debt		$	22,858			30,858				$	81,593			$	26,600			$	20,400
Accounts payable and accrued expenses		24,024				23,487				23,436				26,399				25,969
Due to SEACOR Holdings		1,358				663				3,519				1,827				—
Other current liabilities		50,978				54,210				47,014				46,055				34,647
Total current liabilities		99,218				109,218				155,562				100,881				81,016
Long-Term Debt		292,041				285,869				233,904				274,408				217,805
Conversion Option Liability on 3.75% Convertible Senior Notes		6,832				14,135				27,109				—				—
Deferred Income Taxes		55,506				106,389				117,332				121,028				124,945
Deferred Gains and Other Liabilities		31,741				36,314				39,324				38,820				41,198
Total liabilities		485,338				551,925				573,231				535,137				464,964
Equity:
SEACOR Marine Holdings Inc. stockholders’ equity:
Preferred stock		—				—				—				—				—
Common stock		177				177				177				177				177
Additional paid-in capital		303,996				302,952				302,678				306,359				306,359
Retained earnings		216,511				187,550				208,025				242,017				249,412
Accumulated other comprehensive loss, net of tax		(12,493		)		(8,685		)		(9,690		)		(10,679		)		(11,337		)
		508,191				481,994				501,190				537,874				544,611
Noncontrolling interests in subsidiaries		14,975				16,012				17,834				22,812				5,544
Total equity		523,166				498,006				519,024				560,686				550,155
		$	1,008,504			$	1,049,931			$	1,092,255			$	1,095,823			$	1,015,119

SEACOR MARINE HOLDINGS INC.
FLEET COUNTS
(unaudited)
		Dec. 31,		Sep. 30,		Jun. 30,		Mar. 31,		Dec. 31,
		2017(1)		2017		2017		2017		2016
Anchor handling towing supply		23		23		25		25		25
Fast support		50		50		49		51		48
Supply		31		27		26		28		28
Standby safety		20		21		21		21		21
Specialty		4		6		6		6		6
Liftboats		15		15		15		15		15
Wind farm utility		41		41		40		40		40
		184		183		182		186		183

______________________
(1)			Excludes three owned and one leased-in offshore support vessels that have been retired and removed from service.

SEACOR MARINE HOLDINGS INC.
EXPECTED FLEET DELIVERIES
(unaudited)
		2018								2019								2020
		Q1		Q2		Q3		Q4		Q1		Q2		Q3		Q4		Q1		Deferred		Total
Fast support		—		—		—		—		1		—		—		—		1		2		4
Supply		—		—		1		—		1		—		1		—		—		—		3
Wind farm utility(1)		1		1		1		—		1		—		—		—		—		—		4

______________________
(1)			The wind farm utility vessel scheduled for delivery in Q2 2018 is expected to be sold, at cost, to one of the Company’s joint ventures.

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20180322006319/en/

SEACOR Marine Holdings Inc.
Erica Bartsch, 212-446-1875
ebartsch@seacormarine.com.

Source: SEACOR Marine Holdings Inc.