Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2018 | Nov. 09, 2018 | |
Document Information [Line Items] | ||
Entity Registrant Name | SEACOR Marine Holdings Inc. | |
Entity Central Index Key | 1,690,334 | |
Trading Symbol | smhi | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Non-accelerated Filer | |
Entity Current Reporting Status | Yes | |
Entity Emerging Growth Company | true | |
Entity Small Business | false | |
Entity Common Stock, Shares Outstanding (in shares) | 20,437,818 | |
Document Type | 10-Q | |
Document Period End Date | Sep. 30, 2018 | |
Document Fiscal Year Focus | 2,018 | |
Document Fiscal Period Focus | Q3 | |
Amendment Flag | false | |
Entity Ex Transition Period | true |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Current Assets: | ||
Cash and cash equivalents | $ 102,864 | $ 110,234 |
Restricted cash | 1,655 | 2,317 |
Receivables: | ||
Trade, net of allowance for doubtful accounts of $4,077 and $4,039 in 2018 and 2017, respectively | 75,349 | 45,616 |
Other | 16,552 | 12,341 |
Inventories | 3,646 | 3,756 |
Prepaid expenses and other | 2,692 | 3,026 |
Total current assets | 202,758 | 177,290 |
Property and Equipment: | ||
Historical cost | 1,279,000 | 1,179,836 |
Accumulated depreciation | (568,752) | (560,160) |
710,248 | 619,676 | |
Construction in progress | 82,953 | 70,157 |
Net property and equipment | 793,201 | 689,833 |
Investments, at Equity, and Advances to 50% or Less Owned Companies | 120,340 | 92,169 |
Construction Reserve Funds | 35,596 | 45,361 |
Other Assets | 3,582 | 3,851 |
1,155,477 | 1,008,504 | |
Current Liabilities: | ||
Current portion of long-term debt | 17,426 | 22,858 |
Accounts payable and accrued expenses | 20,480 | 24,024 |
Due to SEACOR Holdings | 463 | 1,358 |
Accrued wages and benefits | 4,497 | 5,087 |
Accrued income taxes | 4,454 | 4,290 |
Accrued capital, repair and maintenance expenditures | 27,812 | 19,618 |
Deferred revenues | 9,754 | 10,104 |
Other current liabilities | 17,255 | 11,879 |
Total current liabilities | 102,141 | 99,218 |
Long-Term Debt | 397,738 | 292,041 |
Conversion Option Liability on Convertible Senior Notes | 17,928 | 6,832 |
Deferred Income Taxes | 46,120 | 55,506 |
Deferred Gains and Other Liabilities | 26,662 | 31,741 |
Total liabilities | 590,589 | 485,338 |
SEACOR Marine Holdings Inc. stockholders’ equity: | ||
Common stock, $.01 par value, 60,000,000 shares authorized; 20,441,590 and 17,675,356 shares issued in 2018 and 2017, respectively | 204 | 177 |
Additional paid-in capital | 414,460 | 303,996 |
Retained earnings | 134,628 | 216,511 |
Shares held in treasury | (86) | |
Accumulated other comprehensive loss, net of tax | (13,945) | (12,493) |
535,261 | 508,191 | |
Noncontrolling interests in subsidiaries | 29,627 | 14,975 |
Total equity | 564,888 | 523,166 |
$ 1,155,477 | $ 1,008,504 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Trade receivables, allowance for doubtful accounts | $ 4,077 | $ 4,039 |
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock, shares authorized (in shares) | 60,000,000 | 60,000,000 |
Common stock, shares issued (in shares) | 20,441,590 | 17,675,356 |
Unaudited Condensed Consolidate
Unaudited Condensed Consolidated Statements of Loss - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Operating Revenues | $ 70,255 | $ 47,813 | $ 182,677 | $ 124,440 |
Costs and Expenses: | ||||
Operating | 51,423 | 41,258 | 141,416 | 119,119 |
Administrative and general | 12,234 | 10,318 | 40,573 | 43,849 |
Depreciation and amortization | 17,342 | 15,622 | 55,260 | 42,758 |
80,999 | 67,198 | 237,249 | 205,726 | |
Gains (Losses) on Asset Dispositions and Impairments, Net | 586 | (9,744) | (1,002) | (11,243) |
Operating Loss | (10,158) | (29,129) | (55,574) | (92,529) |
Other Income (Expense): | ||||
Interest income | 309 | 354 | 877 | 1,479 |
Interest expense | (7,761) | (4,295) | (20,383) | (12,023) |
SEACOR Holdings management fees | (3,208) | |||
SEACOR Holdings guarantee fees | (5) | (21) | (24) | (172) |
Loss on Debt Extinguishment | (638) | (638) | ||
Marketable security (losses) gains, net | (698) | 10,931 | ||
Derivative gains (losses), net | 4,387 | 13,022 | (9,797) | 12,720 |
Foreign currency losses, net | (302) | (106) | (981) | (1,389) |
Other, net | 678 | 678 | (1) | |
(3,332) | 8,256 | (30,268) | 8,337 | |
Loss Before Income Tax Benefit and Equity in Earnings of 50% or Less Owned Companies | (13,490) | (20,873) | (85,842) | (84,192) |
Income Tax Expense (Benefit) | 1,249 | (5,823) | (13,299) | (23,045) |
Loss Before Equity in Earnings of 50% or Less Owned Companies | (14,739) | (15,050) | (72,543) | (61,147) |
Equity in (Losses) Earnings of 50% or Less Owned Companies, Net of Tax | (1,027) | (7,306) | (1,540) | (5,297) |
Net Loss | (15,766) | (22,356) | (74,083) | (66,444) |
Net Income (Loss) attributable to Noncontrolling Interests in Subsidiaries | 191 | (1,881) | (4,269) | (4,582) |
Net Loss attributable to SEACOR Marine Holdings Inc. | $ (15,957) | $ (20,475) | $ (69,814) | $ (61,862) |
Basic Loss Per Common Share and Warrants of SEACOR Marine Holdings Inc. (in dollars per share) | $ (0.71) | $ (1.17) | $ (3.42) | $ (3.51) |
Diluted Loss Per Common Share and Warrants of SEACOR Marine Holdings Inc. (in dollars per share) | $ (0.71) | $ (1.25) | $ (3.42) | $ (3.51) |
Basic (in shares) | 22,512,886 | 17,550,663 | 20,391,297 | 17,617,420 |
Diluted (in shares) | 22,512,886 | 21,621,163 | 20,391,297 | 17,617,420 |
Unaudited Condensed Consolida_2
Unaudited Condensed Consolidated Comprehensive Statements of Comprehensive Loss - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Net loss | $ (15,766) | $ (22,356) | $ (74,083) | $ (66,444) |
Other Comprehensive Loss: | ||||
Foreign currency translation (losses) gains | (533) | 1,433 | (1,406) | 4,217 |
Derivative (losses) gains on cash flow hedges | (32) | 91 | 36 | (347) |
(824) | 1,605 | (1,458) | 4,335 | |
Income tax benefit | (11) | (541) | (46) | (1,428) |
(835) | 1,064 | (1,504) | 2,907 | |
Comprehensive Loss | (16,601) | (21,292) | (75,587) | (63,537) |
Comprehensive Income (Loss) attributable to Noncontrolling Interests in Subsidiaries | 172 | (1,822) | (4,321) | (4,327) |
Comprehensive Loss attributable to SEACOR Marine Holdings Inc. | (16,773) | (19,470) | (71,266) | (59,210) |
Interest Expense [Member] | ||||
Other Comprehensive Loss: | ||||
Reclassification of derivative (gains) losses on cash flow hedges to interest expense | (305) | 32 | (305) | 81 |
Reclassification of derivative losses on cash flow hedges | 305 | (32) | 305 | (81) |
Equity Method Investments [Member] | ||||
Other Comprehensive Loss: | ||||
Reclassification of derivative (gains) losses on cash flow hedges to interest expense | (46) | (49) | (217) | (384) |
Reclassification of derivative losses on cash flow hedges | $ 46 | $ 49 | $ 217 | $ 384 |
Unaudited Condensed Consolida_3
Unaudited Condensed Consolidated Statement Of Changes In Equity - 9 months ended Sep. 30, 2018 - USD ($) | Common Stock [Member] | Additional Paid-in Capital [Member] | Treasury Stock [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Noncontrolling Interest [Member] | Total |
Balance at Dec. 31, 2017 | $ 177,000 | $ 303,996,000 | $ 216,511,000 | $ (12,493,000) | $ 14,975,000 | $ 523,166,000 | |
Impact of adoption of accounting principle at Dec. 31, 2017 | (12,069,000) | (12,069,000) | |||||
December 31, 2017 as adjusted at Dec. 31, 2017 | 177,000 | 303,996,000 | 204,442,000 | (12,493,000) | 14,975,000 | 511,097,000 | |
Issuance of Common Stock | 23,000 | 42,973,000 | 42,996,000 | ||||
Issuance of Warrants | 62,809,000 | 62,809,000 | |||||
Amortization of employee share awards | 2,602,000 | 2,602,000 | |||||
Exercise of options | 1,000 | 812,000 | 813,000 | ||||
Exercise of Warrants | 3,000 | (3,000) | |||||
Restricted stock vesting | (83,000) | (83,922) | |||||
Director share awards | 893,000 | 893,000 | |||||
Acquisition of consolidated joint venture | (12,037,000) | (12,037,000) | |||||
Issuance of noncontrolling interests | 375,000 | 31,010,000 | 31,385,000 | ||||
Net loss | (69,814,000) | (4,269,000) | (74,083,000) | ||||
Other comprehensive loss | (1,452,000) | (52,000) | (1,504,000) | ||||
Balance at Sep. 30, 2018 | $ 204,000 | $ 414,460,000 | $ (86,000) | $ 134,628,000 | $ (13,945,000) | $ 29,627,000 | $ 564,888,000 |
Unaudited Condensed Consolida_4
Unaudited Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2017 | |
Cash Flows from Operating Activities | ||
Net loss | $ (74,083) | $ (66,444) |
Adjustments to reconcile net loss to net cash (used in) provided by operating activities: | ||
Depreciation and amortization | 55,260 | 42,758 |
Deferred financing costs amortization | 1,784 | 2,028 |
Restricted stock amortization | 2,602 | 363 |
Restricted stock vesting | (83) | |
Director share awards | 893 | |
Debt discount amortization | 4,025 | 3,316 |
Amortization of deferred gains against charter expense | (6,028) | (6,109) |
Bad debt expense | 86 | (516) |
Loss from equipment sales, retirements or impairments | 1,002 | 11,243 |
Gain from other sales | (428) | |
Gains from sale of marketable securities, net | (10,931) | |
Proceeds from sale of securities | 51,877 | |
Derivative losses (gains) | 9,797 | (12,720) |
Cash settlement on derivative transactions, net | (48) | (372) |
Currency loss | 981 | 1,389 |
Deferred income taxes | (20,980) | (12,534) |
Equity losses, net | 1,540 | 5,297 |
Dividends received from equity investees | 1,324 | 2,442 |
Changes in Operating Assets and Liabilities: | ||
Accounts receivables | (29,246) | 735 |
Other assets | 1,003 | 3,575 |
Accounts payable and accrued liabilities | 479 | 19,747 |
Net cash (used in) provided by operating activities | (50,121) | 35,144 |
Cash Flows from Investing Activities: | ||
Purchases of property and equipment | (37,763) | (52,353) |
Cash settlements on derivative transactions, net | (369) | |
Proceeds from disposition of property and equipment | 5,384 | 9,797 |
Net change in construction reserve fund | 9,765 | 32,754 |
Sale of subsidiary joint venture | 8,017 | |
Investments in and advances to 50% or less owned companies | (30,253) | (5,302) |
Return of investments and advances from 50% or less owned companies | 7,350 | |
Capital distributions from equity investees | 6,463 | |
Proceeds from sale of investment in equity investees | 89 | |
Payments received on third party notes receivable, net | 99 | |
Principal payments on notes due from equity investees | 313 | |
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 | (38,288) | (15,529) |
Cash Flows from Financing Activities: | ||
Payments on long-term debt | (38,053) | (8,572) |
Proceeds from issuance of long-term debt, net of issue costs | 62,353 | 6,845 |
SMHI Restricted Stock | (2,656) | |
Purchase of subsidiary shares from noncontrolling interests | (3,693) | |
Proceeds from exercise of stock options and Warrants | 813 | |
Issuance of stock | 42,996 | |
Issuance of Warrants | 12,809 | |
Net cash provided by (used in) financing activities | 80,918 | (8,076) |
Effects of Exchange Rate Changes on Cash and Cash Equivalents | (541) | 1,666 |
Net (Decrease) Increase in Cash, Cash Equivalents and Restricted Cash | (8,032) | 13,205 |
Cash, Restricted Cash and Cash Equivalents, Beginning of Period | 112,551 | 118,771 |
Cash, Restricted Cash and Cash Equivalents, End of Period | $ 104,519 | $ 131,976 |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation and Accounting Policies | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Basis of Accounting [Text Block] | 1. BASIS OF PRESENTATION AND ACCOUNTING POLICIES The condensed consolidated financial statements include the accounts of SEACOR Marine Holdings Inc. and its consolidated subsidiaries (the “Company”). In the opinion of management, all adjustments (consisting of normal recurring adjustments) have been made to fairly present the unaudited condensed consolidated financial statements for the periods indicated. Results of operations for the interim periods presented are not Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles in the United States have been condensed or omitted. These condensed consolidated financial statements should be read in conjunction with the Company’s financial statements and related notes thereto included in the Company's Annual Report on Form 10 December 31, 2017. Unless the context otherwise indicates, any reference in this Quarterly Report on Form 10 10 not 10 31, 2017. SEACOR Marine was previously a subsidiary of SEACOR Holdings Inc. (along with its consolidated subsidiaries, other than SEACOR Marine and its subsidiaries, collectively referred to as “SEACOR Holdings”). On June 1, 2017, $0.01 May 22, 2017 ( two Recently Adopted Accounting Standards. May 2014, 2014 09, Revenue from Contracts with Customers (Topic 606 January 1, 2018 not not In November 2016, 2016 18, Statement of Cash Flows (Topic 230 , January 1, 2018. not 2016 18, Revenue Recognition. Lease Revenues. on (see Note 15 ). Revenues from Customers. one three rred (see Note 15 ). Revenue that does not ties. Contract liabilities, i nine September 30 201 8 201 7 Balance at beginning of period $ 10,104 $ 6,953 Revenues deferred during the period 2,756 3,147 Revenues recognized during the period (3,191 ) — Balance at end of period $ 9,669 $ 10,100 As of September 30, 2018, es of $6.8 million related to the time charter of several offshore support vessels paid through the conveyance of an overriding royalty interest (the “Conveyance”) in developmental oil and gas producing properties operated by a customer in the U.S. Gulf of Mexico. Payments under the Conveyance, and the timing of such payments, were contingent upon production and energy sale prices. On August 17, 2012, the customer filed a voluntary petition for Chapter 11 bankruptcy. The Company is vigorously defending its interest in connection with the bankruptcy filing; however, payments received under the Conveyance subsequent to May 19, 2012 are subject to creditors’ claims in bankruptcy court. The Company will recognize revenues when reasonably assured of a judgment in its favor. All costs and expenses related to these charters were recognized as incurred. As of September 30, 2018, contract liabilities of $2.5 million re not The remaining balance of $0.4 September 30, 2018 two not Property and Equipment. not may As of September 30, 2018, Offshore Support Vessels: Wind farm utility vessels 10 All other offshore support vessels (excluding wind farm utility) 20 Equipment maintenance and repair costs and the costs of routine overhauls, drydockings and inspections performed on vessels and equipment are charged to operating expense as incurred. Expenditures that extend the useful life or improve the marketing and commercial characteristics of equipment as well as major renewals and improvements to other properties are capitalized. Certain interest costs incurred during the construction of equipment are capitalized as part of the assets’ carrying values and are amortized over such assets’ estimated useful lives. During the nine September 30, 2018, ed $1.6 Impairment of Long-Lived Assets. The Company performs an impairment analysis of long-lived assets used in operations, including intangible assets, when indicators of impairment are present. These indicators may include a significant decrease in the market price of a long-lived asset or asset group, a significant adverse change in the extent or manner in which a long-lived asset or asset group is being used or in its physical condition, or a current period operating or cash flow loss combined with a history of operating or cash flow losses or a forecast that demonstrates continuing losses associated with the use of a long-lived asset or asset group. If the carrying values of the assets are not recoverable, as determined by the estimated undiscounted cash flows, the estimated fair value of the assets or asset groups are compared to their current carrying values and impairment charges are recorded if the carrying value exceeds fair value. The Company performs its testing on an asset or asset group basis. Generally, fair value is determined using valuation techniques, such as expected discounted cash flows or appraisals, as appropriate. During the nine September 30, 2018, the Company recognized $3.0 million of imp four Impairment of 50% or Less Owned Companies. Investments in 50% or less owned companies are reviewed periodically to assess whether there is an other-than-temporary decline in the carrying value of the investment. In its evaluation, the may nine September 30, 2018, $1.2 one 50% Income Taxes. During the nine September 30, 2018, the Company's effective income tax rate of 15.5 % was primarily due to taxes provided on income attributable to noncontrolling interests, foreign sourced income not subject to U.S. income taxes, foreign taxes not nine September 30, 2017, the Company’s effective income tax rate of 27.4% was primarily due to losses of foreign subsidiaries not benefited, non-deductible expenses associated with the Company's participation in SEACOR Holdings' share award plans and non-deductible Spin-off related expenses reimbursed to SEACOR Holdings. Deferred Gains. T 50% third 50% nine September 30 2018 2017 Balance at beginning of period $ 25,006 $ 33,910 Amortization of deferred gains included in operating expenses as a reduction to rental expense (6,053 ) (6,109 ) Other adjustments (416 ) (364 ) Balance at end of period $ 18,537 $ 27,437 Accumulated Other Comprehensive Income (Loss). SEACOR Marine Holdings Inc. Stockholders’ Equity Noncontrolling Interests Foreign Currency Translation Adjustments Derivative Income (Losses) on Cash Flow Hedges, net Total Foreign Currency Translation Adjustments Derivative Income (Losses) on Cash Flow Hedges, net Other Comprehensive Income (Loss) December 31, 2017 $ (13,195 ) $ 702 $ (12,493 ) $ (1,357 ) $ 1 Other comprehensive income (loss) (1,358 ) (48 ) (1,406 ) (48 ) (4 ) $ (1,458 ) Income tax expense — (46 ) (46 ) — — (46 ) Nine months Ended September 30, 2018 $ (14,553 ) $ 608 $ (13,945 ) $ (1,405 ) $ (3 ) $ (1,504 ) Loss Per Share. B $0.01 not For the nine September 30, 2018 and 2017, diluted earnings per common share of the Company excluded 2,183,708 4,070,500 common shares, respectively, issuable pursuant to the Company’s Convertible Senior Notes (see Note 4 nine September 30, 2018, 196,338 732,191 shares of stock issuable upon exercise of outstanding stock options as the effect of their inclusion in the computation would be anti-dilutive. While calculating the weighted average basic and diluted number of common shares and warrants issued and outstanding for the quarter ending September 30, 2018, three six June 30, 2018. two three June 30, 2018 21,035,214, 1,056,698 $1.19 $1.25 six June 30, 2018 19,312,923, 1,345,681 $2.79 $3.00 three six June 30, 2018, not Upon assessing the error from both a quantitative and qualitative perspective, the Company concluded the error was not June 30, 2018 no September 30, 2018 New Accounting Pronouncements. On February 25, 2016, the Financial Accounting Standards Board (“FASB”) issued a comprehensive new leasing standard meant to improve transparency and comparability among companies by requiring lessees to recognize a lease liability and a corresponding right-of-use asset for virtually all lease contracts. It also requires additional disclosures about leasing arrangements. The Company will adopt the new standard on January 1, 2019 and will apply the transition provisions of the new standard at its adoption date with recognition of a cumulative-effect adjustment to the opening balance of retained earnings. The Company believes the adoption of the new standard will have a material impact on its consolidated financial position, results of operations and cash flows, estimated to be $40 $75 may may In February 2018, December 2017. December 15, 2018. not In June 2018, December 15, 2018. not In August 2018, December 15, 2019. not |
Note 2 - Equipment Acquisitions
Note 2 - Equipment Acquisitions and Dispositions | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | 2. EQUIPMENT ACQUISITIONS AND DISPOSITIONS During the nine September 30, 2018, $44.6 nine September 30, 2018 two nd two platform supply 3 six Note 4 two not During the nine September 30, 2018, one two one two three , one $4.0 $3.9 $0.1 $2.0 $1.4 |
Note 3 - Investments, at Equity
Note 3 - Investments, at Equity, and Advances to 50% or Less Owned Companies | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Equity Method Investments and Joint Ventures Disclosure [Text Block] | 3. INVESTMENTS, AT EQUITY AND ADVANCES TO 50% SEACOSCO . On January 17, 2018, eight $161.1 70% two March 31, 2018, five 30, 2018 one 2019. six 18 mpany owns an unconsolidated 50% interest in SEACOSCO. During the nine September 30, 2018, the Company contributed capital of $27.0 million in cash. The expected remaining capital commitment of approximately $5.3 2018 first 2019. SEACOR Grant DIS. As September 30, 2018, $0.5 $1.2 one third SEACOR Marlin. September 13, 2018, 51% $8.0 $0.4 50% OSV Partners. five September 28, 2018, $27.3 September 28, 2021 $5.0 $5.0 ng $1.1 al $1.1 September 30, 2020) $2.1 no not Guarantees. one 50% September 30, 2018, $0.5 In addition, as of September 30, 2018, two 50% first 30, 2018, $1.0 |
Note 4 - Long-term Debt
Note 4 - Long-term Debt | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Long-term Debt [Text Block] | 4. LONG-TERM DEBT Convertible Senior Notes. On December 1, 2015, $175.0 3.75%, December 1, 2022, 23.26 $1,000 $0.01 On May 2, 2018, $50 1,886,792 k (to facilitate compliance with the provisions of the Jones Act) at an exercise price of $0.01 37.73 $1,000 $26.50 25 May 2, 2018. $125.0 3.75% 4.25% 12 December 1, 2023 June 15 December 15 MOI Joint Venture. On F January 18, 2018, 11 February 8, 2018, $15.0 $131.1 $116.1 $15.0 6.63% 2024 two $10.0 202 0. During the nine September 30, 2018 , $15.0 72% Windcat. Du nine September 30, 2018, €6.0 $7.5 $8.5 $1.0 Seacor 88/888. July 5, 2018, $11.0 two not 2023, 5.9% two not x $5.5 50% October 2018, $5.5 Seacor Marine Foreign Holdings . September 26, 2018, $130.0 20 2023 6.1875% y ( $101.3 $99.9 $1.4 $30.1 $3.3 December 2018. October 2018, $65.5 $0.6 Letters of Credit . As of September 30, 2018, the Company had outstanding letters of credit of $5.8 one $0.3 one $2.5 |
Note 5 - Income Taxes
Note 5 - Income Taxes | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 5. INCOME TAXES The following table reconciles the difference between the statutory federal income tax rate for the Company and the effective income tax rate on continuing operations for the nine September 30, 2018: Statutory rate 21.0 % Noncontrolling interests (1.0 %) Foreign earnings not subject to U.S. income tax (3.2 )% Foreign taxes not creditable against U.S. income tax (2.9 )% Unrecognized tax benefit 4.5 % Return to provision adjustment (4.0 )% Other 1.1 % 15.5 % As of December 31, 2017, $3.9 December 22, 2017. $3.9 nine 30, 2018, During the preparation of the 2017 third 2018, 2017 $3.4 2017 three September 30, 2018. December 31, 2017 three September 30, 2018 |
Note 6 - Derivative Instruments
Note 6 - Derivative Instruments and Hedging Strategies | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | 6. DERIVATIVE INSTRUMENTS AND HEDGING STRATEGIES Derivative instruments a September 30, 2018 Derivative Asset (1) Derivative Liability Derivatives designated as hedging instruments: Interest rate swap agreements (cash flow hedges) $ — $ 10 (2) — 10 Derivatives not designated as hedging instruments: Conversion option liability on Convertible Senior Notes — 17,928 Interest rate swap agreements 1,565 25 (2) $ 1,565 $ 17,963 ______________________ ( 1 Included in other receivables in the accompanying condensed consolidated balance sheets. ( 2 Included in other current liabilities in the accompanying condensed consolidated balance sheets. Cash Flow Hedges. The 50% 50% nine September 30, 2018. September 30, 2018, 50% • Windcat Workboats had two 2021 0.03 €15.0 $17.5 • MexMar had five 2023 1.71% 2.10% of $100.5 million and Other Derivative Instruments. not nine September 30 as follows (in thousands): 201 8 201 7 Conversion option liability on Convertible Senior Notes $ (11,096 ) $ 13,119 Forward currency exchange, option and future contracts — (78 ) Interest rate swap agreements 1,299 (321 ) $ (9,797 ) $ 12,720 The conversion option liability relates to the bifurcated embedded conversion option in the Convertible Senior Notes (see Note 4 10 7 10 31, 2017 The Company and certain of its 50% September 30, 2018, 50% • OSV Partners had two interest rate swap agreements with maturities in 2020 that call for OSV Partners to pay a fixed rate of interest ranging from 1.89% to 2.27% on the aggregate amortized notional value of $29.2 million and receive a variable interest rate based on LIBOR on the aggregate amortized notional value. On September 28, 2018, • Falcon Global International had an interest rate swap agreement maturing in 2022 2.06% $51.6 28, 2018 $1.2 2018. • Sea-Cat Crewzer II had an interest rate swap agreement maturing in 2019 1.52% $19.1 28, 2018 $0.2 2018. • Sea-Cat Crewzer had an interest rate swap agreement maturing in 2019 1.52% $16.9 28, 2018 $0.2 2018. |
Note 7 - Fair Value Measurement
Note 7 - Fair Value Measurements | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | 7. FAIR VALUE MEASUREMENTS The fair value of an asset or liability is the price that would be received to sell an asset or transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The Company utilizes a fair value hierarchy that maximizes the use of observable inputs and minimizes the use of unobservable inputs when measuring fair value and defines three may Level 1 Level 2 Level 1 not Level 3 no The Company’s financial assets September 30, 2018 Level 1 Level 2 Level 3 ASSETS Derivative instruments (included in other receivables) $ — $ 1,565 $ — Construction reserve funds 35,596 — — LIABILITIES Derivative instruments — 35 17,928 Level 3 Level 3 The estimated fair values of the Company’s othe September 30, 2018 Estimated Fair Value Carrying Amount Level 1 Level 2 Level 3 ASSETS Cash, cash equivalents and restricted cash $ 104,519 $ 104,519 $ — $ — Investments, at cost, in 50% or less owned companies (included in other assets) 132 see below LIABILITIES Long-term debt, including current portion 415,164 — 416,888 — The carrying value of cash, cash equivalents and restricted cash approximates fair value. The fair value of the Company’s long-term debt was estimated based upon quoted market prices or by using discounted cash flow analysis based on estimated current rates for similar types of arrangements. It was not 50% not The Company’s other assets and liabilities th nine September 30, 2018 Level 1 Level 2 Level 3 ASSETS Property and equipment: Anchor handling towing supply $ — $ 2,000 $ — Liftboats — — 134,775 Property and equipment . nine September 30, 2018, $3.0 1 Level 2 The Level 3 Level 3 two third Level 3 two The significant unobservable inputs used in the fair value measurement for the liftboats provided by the appraisers were based on i) quotes from local shipyards, ii) economic life ranging from 25 40 45% 50%. |
Note 8 - Warrants
Note 8 - Warrants | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Warrants and Rights [Text Block] | 8. WARRANTS On April 26, 2018, vate placement of its Common Stock and Warrants to purchase its Common Stock (which were issued to certain investors in place of Common Stock to facilitate compliance with Jones Act restrictions) for aggregate gross proceeds of $56,855,000 2,168,586 674,164 $0.01 25 April 26, 2018. As indicated in Note 4, May 2, 2018, $50.0 25 May 2, 2018. On May 31, 2018, 250,585 108 14 1,636,099 $0.01 On June 8, 2018, $0.01 38,857 635,307 $0.01 Weighted Average Exercise Price Number of Warrants Balance as of December 31, 2017 — — Warrants issued - January 1 - September 30, 2018 $ 0.01 2,560,956 Warrants exercised - January 1 - September 30, 2018 $ 0.01 (289,550 ) Balance as of September 30, 2018 $ 0.01 2,271,406 |
Note 9 - Stockholders' Equity
Note 9 - Stockholders' Equity | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | 9. STOCKHOLDERS' EQUITY On January 1, 2018, October 24, 2016, $12.1 On February 8, 2018, fifteen six $15.0 $131.1 $10.0 On March 26, 2018, 103,213 $1.8 4 2 As indicated in Note 8, April 26, 2018, ds of $56,855,000 4 2 As indicated in Notes 4 8, May 2, 2018, $50.0 4 2 |
Note 10 - Noncontrolling Intere
Note 10 - Noncontrolling Interests in Subsidiaries | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Noncontrolling Interest Disclosure [Text Block] | 10. NONCONTROLLING INTERESTS IN SUBSIDIARIES Noncontrolling interests Noncontrolling Interests September 30, 201 8 December 31, 201 7 Falcon Global Holdings 28.0% $ 27,024 $ 12,087 Windcat Workboats 12.5% 2,311 2,608 Other 1.8% 292 280 $ 29,627 $ 14,975 Falcon Global Holdings. two 15 six The total capital contributed to FGH was approximately $112.5 $43.3 $18.8 28.0%. During the nine September 30, 2018, $14.2 $4.0 Windcat Workboats. W September 30, 2018, $18.5 nine September 30, 2018, $2.0 $0.2 |
Note 11 - Commitments and Conti
Note 11 - Commitments and Contingencies | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | 11. COMMITMENTS AND CONTINGENCIES As of September 30, 2018, the Company’s unfunded capital commitments were $34.5 million for two fast support vessels, three supply vessels, two one $2.7 million is payable during the remainder of 2018, $17.3 million is payable during 2019 and $14.5 million is payable during 2020. The Company has indefinitely deferred an additional $20.8 million of orders with respect to two fast support vessels for which the Company had previously reported unfunded capital commitments. The delivery dates and payment of certain costs (originally scheduled for payment in 2018, 2019 and 2020 ) for such vessels are uncertain as the Company, at its option, may defer their construction for an indefinite period of time. The Company's remaining commitment related to capital commitments for SEACOSCO is approximately $5.3 As of September 30, 2018, one £0.9 not As of September 30, 2018, SEA $46.1 0.5% In the normal course of its business, the Company becomes involved in various other litigation matters including, among other things, claims by third not |
Note 12 - Multi-employer Pensio
Note 12 - Multi-employer Pension Plans | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Pension and Other Postretirement Benefits Disclosure [Text Block] | 12. Merchant Navy Ratings Pension Fund (“MNRPF”). March 2017, $291.9 £221.0 July 20, 2018, second 2018 $1.19 £0.9 four October 2018. |
Note 13 - Share Based Compensat
Note 13 - Share Based Compensation | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | 13. Transactions in connection with the Company's 2017 nine September 30, 2018 Director stock awards granted 19,285 Restricted stock awards granted 120,600 Stock Options Activities: Outstanding as of December 31, 2017 613,700 Granted 183,491 Exercised 65,000 Outstanding as of September 30, 2018 732,191 Shares Available for future grants as of September 30, 2018 1,232,924 |
Note 14 - Stock Repurchases
Note 14 - Stock Repurchases | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Treasury Stock [Text Block] | 14. For the nine September 30, 2018, 3,664 $83,922 2017 not May 24, 2018, 108 $2,562 $0.01 8 |
Note 15 - Segment Information
Note 15 - Segment Information | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | 15 . SEGMENT INFORMATION The Company’s segment presentation and basis of measurement of segment profit or loss are as previously described in the Company’s Annual Report on Form 10 December 31, 2017. United States (primarily Gulf of Mexico) Africa (primarily West Africa) Middle East and Asia Brazil, Mexico, Central and South America Europe (primarily North Sea) Total For the Three Months Ended September 30, 2018 Time Charter Statistics: Average Rates Per Day $ 12,476 $ 9,315 $ 8,156 $ 17,604 $ 4,287 $ 7,323 Fleet Utilization 30 % 82 % 76 % 80 % 85 % 68 % Fleet Available Days 3,433 1,475 2,024 531 5,154 12,617 Operating Revenues: Time charter $ 12,800 $ 11,201 $ 12,590 $ 7,479 $ 18,832 $ 62,902 Bareboat charter — — — 1,168 — 1,168 Other marine services 2,722 1,777 (83 ) 416 1,353 6,185 15,522 12,978 12,507 9,063 20,185 70,255 Direct Costs and Expenses: Operating: Personnel 4,853 4,486 4,361 1,662 9,659 25,021 Repairs and maintenance 1,801 2,438 2,091 312 2,566 9,208 Drydocking 375 1,201 352 103 2,791 4,822 Insurance and loss reserves 612 323 385 163 374 1,857 Fuel, lubes and supplies 1,120 1,081 892 427 1,170 4,690 Other 154 1,103 952 350 441 3,000 8,915 10,632 9,033 3,017 17,001 48,598 Direct Vessel Profit $ 6,607 $ 2,346 $ 3,474 $ 6,046 $ 3,184 21,657 Other Costs and Expenses: Operating: Leased-in equipment $ 1,853 $ 960 $ — $ — $ 12 2,825 Administrative and general 12,234 Depreciation and amortization $ 5,227 $ 2,381 $ 4,207 $ 2,521 $ 3,006 17,342 32,401 Gains on Asset Dispositions and Impairments 586 Operating Loss $ (10,158 ) United States (primarily Gulf of Mexico) Africa (primarily West Africa) Middle East and Asia Brazil, Mexico, Central and South America Europe (primarily North Sea) Total For the Nine Months Ended September 30, 2018 Time Charter Statistics: Average Rates Per Day $ 10,832 $ 9,425 $ 8,156 $ 17,807 $ 4,721 $ 7,229 Fleet Utilization 23 % 86 % 75 % 65 % 77 % 61 % Fleet Available Days 11,193 4,066 6,161 1,166 15,159 37,746 Operating Revenues: Time charter $ 27,834 $ 33,117 $ 37,555 $ 13,409 $ 54,955 $ 166,870 Bareboat charter — — — 3,467 — 3,467 Other marine services 6,053 3,414 (1,005 ) 1,371 2,507 12,340 33,887 36,531 36,550 18,247 57,462 182,677 Direct Costs and Expenses: Operating: Personnel 13,481 12,873 12,452 3,257 29,367 71,430 Repairs and maintenance 4,024 5,457 8,095 649 7,126 25,351 Drydocking 1,810 2,113 413 114 5,741 10,191 Insurance and loss reserves 1,948 789 982 399 863 4,981 Fuel, lubes and supplies 2,513 2,650 2,848 841 3,505 12,357 Other 208 3,541 2,996 898 973 8,616 23,984 27,423 27,786 6,158 47,575 132,926 Direct Vessel Profit $ 9,903 $ 9,108 $ 8,764 $ 12,089 $ 9,887 49,751 Other Costs and Expenses: Operating: Leased-in equipment $ 5,571 $ 2,885 $ — $ — $ 34 8,490 Administrative and general 40,573 Depreciation and amortization $ 17,677 $ 8,112 $ 14,608 $ 6,020 $ 8,843 55,260 104,323 Losses on Asset Dispositions and Impairment (1,002 ) Operating Loss $ (55,574 ) As of September 30, 2018 Property and Equipment: Historical cost $ 479,303 $ 186,729 $ 310,110 $ 102,776 $ 200,082 $ 1,279,000 Accumulated depreciation (242,364 ) (53,498 ) (81,121 ) (47,374 ) (144,395 ) (568,752 ) $ 236,939 $ 133,231 $ 228,989 $ 55,402 $ 55,687 $ 710,248 United States (primarily Gulf of Mexico) Africa (primarily West Africa) Middle East and Asia Brazil, Mexico, Central and South America Europe (primarily North Sea) Total For the Three Months Ended September 30, 2017 Time Charter Statistics: Average Rates Per Day $ 7,212 $ 10,611 $ 7,138 $ 16,060 $ 4,390 $ 6,006 Fleet Utilization 16 % 71 % 61 % 49 % 90 % 60 % Fleet Available Days 3,859 1,283 2,194 184 5,060 12,580 Operating Revenues: Time charter $ 4,587 $ 9,700 $ 9,490 $ 1,439 $ 20,051 $ 45,267 Bareboat charter — — — 1,168 — 1,168 Other marine services 1,116 (310 ) (341 ) 159 754 1,378 5,703 9,390 9,149 2,766 20,805 47,813 Direct Costs and Expenses: Operating: Personnel 4,455 3,588 4,731 326 9,079 22,179 Repairs and maintenance 1,289 1,324 2,309 110 2,378 7,410 Drydocking 1,109 311 (102 ) — 961 2,279 Insurance and loss reserves 598 157 363 75 203 1,396 Fuel, lubes and supplies 249 693 1,115 33 790 2,880 Other 123 704 1,192 69 190 2,278 7,823 6,777 9,608 613 13,601 38,422 Direct Vessel (Loss) Profit $ (2,120 ) $ 2,613 $ (459 ) $ 2,153 $ 7,204 9,391 Other Costs and Expenses: Operating: Leased-in equipment $ 1,870 $ 966 $ — $ — $ — 2,836 Administrative and general 10,318 Depreciation and amortization $ 5,224 $ 2,456 $ 4,320 $ 1,025 $ 2,597 15,622 28,776 Losses on Asset Dispositions and Impairments (9,744 ) Operating Loss $ (29,129 ) United States (primarily Gulf of Mexico) Africa (primarily West Africa) Middle East and Asia Brazil, Mexico, Central and South America Europe (primarily North Sea) Total For the Nine Months Ended September 30, 2017 Time Charter Statistics: Average Rates Per Day $ 8,661 $ 10,192 $ 6,916 $ 16,060 $ 4,328 $ 5,806 Fleet Utilization 12 % 67 % 55 % 24 % 84 % 54 % Fleet Available Days 11,920 3,425 5,970 379 15,015 36,709 Operating Revenues: Time charter $ 12,471 23,333 $ 22,728 $ 1,439 $ 54,829 $ 114,800 Bareboat charter — — — 3,467 — 3,467 Other marine services 3,140 97 645 396 1,895 6,173 15,611 23,430 23,373 5,302 56,724 124,440 Direct Costs and Expenses: Operating: Personnel 11,768 9,624 12,001 487 25,667 59,547 Repairs and maintenance 2,963 5,102 6,832 230 6,303 21,430 Drydocking 1,992 2,051 414 — 3,140 7,597 Insurance and loss reserves 2,608 696 1,062 86 629 5,081 Fuel, lubes and supplies 1,104 1,956 2,547 60 2,745 8,412 Other 246 2,221 3,718 73 677 6,935 20,681 21,650 26,574 936 39,161 109,002 Direct Vessel (Loss) Profit $ (5,070 ) $ 1,780 $ (3,201 ) $ 4,366 $ 17,563 15,438 Other Costs and Expenses: Operating: Leased-in equipment $ 6,286 $ 2,905 $ 862 $ — $ 64 10,117 Administrative and general 43,849 Depreciation and amortization $ 16,573 $ 6,105 $ 10,826 $ 2,474 $ 6,780 42,758 96,724 Losses on Asset Dispositions and Impairment (11,243 ) Operating Loss $ (92,529 ) As of September 30, 2017 Property and Equipment: Historical cost $ 429,500 $ 189,845 $ 328,263 $ 78,976 $ 177,825 $ 1,204,409 Accumulated depreciation (237,210 ) (54,052 ) (93,535 ) (42,590 ) (131,532 ) (558,919 ) $ 192,290 $ 135,793 $ 234,728 $ 36,386 $ 46,293 $ 645,490 The Company’s investments in 50% September 30, 2018, 50% 50% $63.8 $56.5 50% nine September 30 Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 MexMar $ 137 $ 793 $ 2,644 $ 3,382 Other (1,164 ) (8,099 ) (4,184 ) (8,679 ) $ (1,027 ) $ (7,306 ) $ (1,540 ) $ (5,297 ) |
Note 16 - Subsequent Event
Note 16 - Subsequent Event | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | 16. SUBSEQUENT EVENT In October 2018, 50% $11.0 88 888 50% $130.0 Subsequent to September 30, 2018, three two $8.2 $5.1 $7.0 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2018 | |
Accounting Policies [Abstract] | |
Consolidation, Policy [Policy Text Block] | The condensed consolidated financial statements include the accounts of SEACOR Marine Holdings Inc. and its consolidated subsidiaries (the “Company”). In the opinion of management, all adjustments (consisting of normal recurring adjustments) have been made to fairly present the unaudited condensed consolidated financial statements for the periods indicated. Results of operations for the interim periods presented are not Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles in the United States have been condensed or omitted. These condensed consolidated financial statements should be read in conjunction with the Company’s financial statements and related notes thereto included in the Company's Annual Report on Form 10 December 31, 2017. Unless the context otherwise indicates, any reference in this Quarterly Report on Form 10 10 not 10 31, 2017. SEACOR Marine was previously a subsidiary of SEACOR Holdings Inc. (along with its consolidated subsidiaries, other than SEACOR Marine and its subsidiaries, collectively referred to as “SEACOR Holdings”). On June 1, 2017, $0.01 May 22, 2017 ( two |
Recently Adopted Accounting Standards [Policy Text Block] | Recently Adopted Accounting Standards. May 2014, 2014 09, Revenue from Contracts with Customers (Topic 606 January 1, 2018 not not In November 2016, 2016 18, Statement of Cash Flows (Topic 230 , January 1, 2018. not 2016 18, |
Revenue Recognition, Policy [Policy Text Block] | Revenue Recognition. Lease Revenues. on (see Note 15 ). Revenues from Customers. one three rred (see Note 15 ). Revenue that does not ties. Contract liabilities, i nine September 30 201 8 201 7 Balance at beginning of period $ 10,104 $ 6,953 Revenues deferred during the period 2,756 3,147 Revenues recognized during the period (3,191 ) — Balance at end of period $ 9,669 $ 10,100 As of September 30, 2018, es of $6.8 million related to the time charter of several offshore support vessels paid through the conveyance of an overriding royalty interest (the “Conveyance”) in developmental oil and gas producing properties operated by a customer in the U.S. Gulf of Mexico. Payments under the Conveyance, and the timing of such payments, were contingent upon production and energy sale prices. On August 17, 2012, the customer filed a voluntary petition for Chapter 11 bankruptcy. The Company is vigorously defending its interest in connection with the bankruptcy filing; however, payments received under the Conveyance subsequent to May 19, 2012 are subject to creditors’ claims in bankruptcy court. The Company will recognize revenues when reasonably assured of a judgment in its favor. All costs and expenses related to these charters were recognized as incurred. As of September 30, 2018, contract liabilities of $2.5 million re not The remaining balance of $0.4 September 30, 2018 two not |
Property, Plant and Equipment, Policy [Policy Text Block] | Property and Equipment. not may As of September 30, 2018, Offshore Support Vessels: Wind farm utility vessels 10 All other offshore support vessels (excluding wind farm utility) 20 Equipment maintenance and repair costs and the costs of routine overhauls, drydockings and inspections performed on vessels and equipment are charged to operating expense as incurred. Expenditures that extend the useful life or improve the marketing and commercial characteristics of equipment as well as major renewals and improvements to other properties are capitalized. Certain interest costs incurred during the construction of equipment are capitalized as part of the assets’ carrying values and are amortized over such assets’ estimated useful lives. During the nine September 30, 2018, ed $1.6 |
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block] | Impairment of Long-Lived Assets. The Company performs an impairment analysis of long-lived assets used in operations, including intangible assets, when indicators of impairment are present. These indicators may include a significant decrease in the market price of a long-lived asset or asset group, a significant adverse change in the extent or manner in which a long-lived asset or asset group is being used or in its physical condition, or a current period operating or cash flow loss combined with a history of operating or cash flow losses or a forecast that demonstrates continuing losses associated with the use of a long-lived asset or asset group. If the carrying values of the assets are not recoverable, as determined by the estimated undiscounted cash flows, the estimated fair value of the assets or asset groups are compared to their current carrying values and impairment charges are recorded if the carrying value exceeds fair value. The Company performs its testing on an asset or asset group basis. Generally, fair value is determined using valuation techniques, such as expected discounted cash flows or appraisals, as appropriate. During the nine September 30, 2018, the Company recognized $3.0 million of imp four |
Equity and Cost Method Investments, Policy [Policy Text Block] | Impairment of 50% or Less Owned Companies. Investments in 50% or less owned companies are reviewed periodically to assess whether there is an other-than-temporary decline in the carrying value of the investment. In its evaluation, the may nine September 30, 2018, $1.2 one 50% |
Income Tax, Policy [Policy Text Block] | Income Taxes. During the nine September 30, 2018, the Company's effective income tax rate of 15.5 % was primarily due to taxes provided on income attributable to noncontrolling interests, foreign sourced income not subject to U.S. income taxes, foreign taxes not nine September 30, 2017, the Company’s effective income tax rate of 27.4% was primarily due to losses of foreign subsidiaries not benefited, non-deductible expenses associated with the Company's participation in SEACOR Holdings' share award plans and non-deductible Spin-off related expenses reimbursed to SEACOR Holdings. |
Deferred Gains [Policy Text Block] | Deferred Gains. T 50% third 50% nine September 30 2018 2017 Balance at beginning of period $ 25,006 $ 33,910 Amortization of deferred gains included in operating expenses as a reduction to rental expense (6,053 ) (6,109 ) Other adjustments (416 ) (364 ) Balance at end of period $ 18,537 $ 27,437 |
Comprehensive Income, Policy [Policy Text Block] | Accumulated Other Comprehensive Income (Loss). SEACOR Marine Holdings Inc. Stockholders’ Equity Noncontrolling Interests Foreign Currency Translation Adjustments Derivative Income (Losses) on Cash Flow Hedges, net Total Foreign Currency Translation Adjustments Derivative Income (Losses) on Cash Flow Hedges, net Other Comprehensive Income (Loss) December 31, 2017 $ (13,195 ) $ 702 $ (12,493 ) $ (1,357 ) $ 1 Other comprehensive income (loss) (1,358 ) (48 ) (1,406 ) (48 ) (4 ) $ (1,458 ) Income tax expense — (46 ) (46 ) — — (46 ) Nine months Ended September 30, 2018 $ (14,553 ) $ 608 $ (13,945 ) $ (1,405 ) $ (3 ) $ (1,504 ) |
Earnings Per Share, Policy [Policy Text Block] | Loss Per Share. B $0.01 not For the nine September 30, 2018 and 2017, diluted earnings per common share of the Company excluded 2,183,708 4,070,500 common shares, respectively, issuable pursuant to the Company’s Convertible Senior Notes (see Note 4 nine September 30, 2018, 196,338 732,191 shares of stock issuable upon exercise of outstanding stock options as the effect of their inclusion in the computation would be anti-dilutive. While calculating the weighted average basic and diluted number of common shares and warrants issued and outstanding for the quarter ending September 30, 2018, three six June 30, 2018. two three June 30, 2018 21,035,214, 1,056,698 $1.19 $1.25 six June 30, 2018 19,312,923, 1,345,681 $2.79 $3.00 three six June 30, 2018, not Upon assessing the error from both a quantitative and qualitative perspective, the Company concluded the error was not June 30, 2018 no September 30, 2018 |
New Accounting Pronouncements, Policy [Policy Text Block] | New Accounting Pronouncements. On February 25, 2016, the Financial Accounting Standards Board (“FASB”) issued a comprehensive new leasing standard meant to improve transparency and comparability among companies by requiring lessees to recognize a lease liability and a corresponding right-of-use asset for virtually all lease contracts. It also requires additional disclosures about leasing arrangements. The Company will adopt the new standard on January 1, 2019 and will apply the transition provisions of the new standard at its adoption date with recognition of a cumulative-effect adjustment to the opening balance of retained earnings. The Company believes the adoption of the new standard will have a material impact on its consolidated financial position, results of operations and cash flows, estimated to be $40 $75 may may In February 2018, December 2017. December 15, 2018. not In June 2018, December 15, 2018. not In August 2018, December 15, 2019. not |
Note 1 - Basis of Presentatio_2
Note 1 - Basis of Presentation and Accounting Policies (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Deferred Revenue, by Arrangement, Disclosure [Table Text Block] | 201 8 201 7 Balance at beginning of period $ 10,104 $ 6,953 Revenues deferred during the period 2,756 3,147 Revenues recognized during the period (3,191 ) — Balance at end of period $ 9,669 $ 10,100 |
Property, Plant and Equipment [Table Text Block] | Offshore Support Vessels: Wind farm utility vessels 10 All other offshore support vessels (excluding wind farm utility) 20 |
Schedule of Deferred Gain [Table Text Block] | 2018 2017 Balance at beginning of period $ 25,006 $ 33,910 Amortization of deferred gains included in operating expenses as a reduction to rental expense (6,053 ) (6,109 ) Other adjustments (416 ) (364 ) Balance at end of period $ 18,537 $ 27,437 |
Comprehensive Income (Loss) [Table Text Block] | SEACOR Marine Holdings Inc. Stockholders’ Equity Noncontrolling Interests Foreign Currency Translation Adjustments Derivative Income (Losses) on Cash Flow Hedges, net Total Foreign Currency Translation Adjustments Derivative Income (Losses) on Cash Flow Hedges, net Other Comprehensive Income (Loss) December 31, 2017 $ (13,195 ) $ 702 $ (12,493 ) $ (1,357 ) $ 1 Other comprehensive income (loss) (1,358 ) (48 ) (1,406 ) (48 ) (4 ) $ (1,458 ) Income tax expense — (46 ) (46 ) — — (46 ) Nine months Ended September 30, 2018 $ (14,553 ) $ 608 $ (13,945 ) $ (1,405 ) $ (3 ) $ (1,504 ) |
Note 5 - Income Taxes (Tables)
Note 5 - Income Taxes (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | Statutory rate 21.0 % Noncontrolling interests (1.0 %) Foreign earnings not subject to U.S. income tax (3.2 )% Foreign taxes not creditable against U.S. income tax (2.9 )% Unrecognized tax benefit 4.5 % Return to provision adjustment (4.0 )% Other 1.1 % 15.5 % |
Note 6 - Derivative Instrumen_2
Note 6 - Derivative Instruments and Hedging Strategies (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block] | Derivative Asset (1) Derivative Liability Derivatives designated as hedging instruments: Interest rate swap agreements (cash flow hedges) $ — $ 10 (2) — 10 Derivatives not designated as hedging instruments: Conversion option liability on Convertible Senior Notes — 17,928 Interest rate swap agreements 1,565 25 (2) $ 1,565 $ 17,963 |
Derivatives Not Designated as Hedging Instruments [Table Text Block] | 201 8 201 7 Conversion option liability on Convertible Senior Notes $ (11,096 ) $ 13,119 Forward currency exchange, option and future contracts — (78 ) Interest rate swap agreements 1,299 (321 ) $ (9,797 ) $ 12,720 |
Note 7 - Fair Value Measureme_2
Note 7 - Fair Value Measurements (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Level 1 Level 2 Level 3 ASSETS Derivative instruments (included in other receivables) $ — $ 1,565 $ — Construction reserve funds 35,596 — — LIABILITIES Derivative instruments — 35 17,928 |
Fair Value, by Balance Sheet Grouping [Table Text Block] | Estimated Fair Value Carrying Amount Level 1 Level 2 Level 3 ASSETS Cash, cash equivalents and restricted cash $ 104,519 $ 104,519 $ — $ — Investments, at cost, in 50% or less owned companies (included in other assets) 132 see below LIABILITIES Long-term debt, including current portion 415,164 — 416,888 — |
Fair Value, Assets Measured on Recurring and Nonrecurring Basis [Table Text Block] | Level 1 Level 2 Level 3 ASSETS Property and equipment: Anchor handling towing supply $ — $ 2,000 $ — Liftboats — — 134,775 |
Note 8 - Warrants (Tables)
Note 8 - Warrants (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block] | Weighted Average Exercise Price Number of Warrants Balance as of December 31, 2017 — — Warrants issued - January 1 - September 30, 2018 $ 0.01 2,560,956 Warrants exercised - January 1 - September 30, 2018 $ 0.01 (289,550 ) Balance as of September 30, 2018 $ 0.01 2,271,406 |
Note 10 - Noncontrolling Inte_2
Note 10 - Noncontrolling Interests in Subsidiaries (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Schedule of Noncontrolling Interest [Table Text Block] | Noncontrolling Interests September 30, 201 8 December 31, 201 7 Falcon Global Holdings 28.0% $ 27,024 $ 12,087 Windcat Workboats 12.5% 2,311 2,608 Other 1.8% 292 280 $ 29,627 $ 14,975 |
Note 13 - Share Based Compens_2
Note 13 - Share Based Compensation (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Share-based Compensation, Activity [Table Text Block] | Director stock awards granted 19,285 Restricted stock awards granted 120,600 Stock Options Activities: Outstanding as of December 31, 2017 613,700 Granted 183,491 Exercised 65,000 Outstanding as of September 30, 2018 732,191 Shares Available for future grants as of September 30, 2018 1,232,924 |
Note 15 - Segment Information (
Note 15 - Segment Information (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | United States (primarily Gulf of Mexico) Africa (primarily West Africa) Middle East and Asia Brazil, Mexico, Central and South America Europe (primarily North Sea) Total For the Three Months Ended September 30, 2018 Time Charter Statistics: Average Rates Per Day $ 12,476 $ 9,315 $ 8,156 $ 17,604 $ 4,287 $ 7,323 Fleet Utilization 30 % 82 % 76 % 80 % 85 % 68 % Fleet Available Days 3,433 1,475 2,024 531 5,154 12,617 Operating Revenues: Time charter $ 12,800 $ 11,201 $ 12,590 $ 7,479 $ 18,832 $ 62,902 Bareboat charter — — — 1,168 — 1,168 Other marine services 2,722 1,777 (83 ) 416 1,353 6,185 15,522 12,978 12,507 9,063 20,185 70,255 Direct Costs and Expenses: Operating: Personnel 4,853 4,486 4,361 1,662 9,659 25,021 Repairs and maintenance 1,801 2,438 2,091 312 2,566 9,208 Drydocking 375 1,201 352 103 2,791 4,822 Insurance and loss reserves 612 323 385 163 374 1,857 Fuel, lubes and supplies 1,120 1,081 892 427 1,170 4,690 Other 154 1,103 952 350 441 3,000 8,915 10,632 9,033 3,017 17,001 48,598 Direct Vessel Profit $ 6,607 $ 2,346 $ 3,474 $ 6,046 $ 3,184 21,657 Other Costs and Expenses: Operating: Leased-in equipment $ 1,853 $ 960 $ — $ — $ 12 2,825 Administrative and general 12,234 Depreciation and amortization $ 5,227 $ 2,381 $ 4,207 $ 2,521 $ 3,006 17,342 32,401 Gains on Asset Dispositions and Impairments 586 Operating Loss $ (10,158 ) United States (primarily Gulf of Mexico) Africa (primarily West Africa) Middle East and Asia Brazil, Mexico, Central and South America Europe (primarily North Sea) Total For the Nine Months Ended September 30, 2018 Time Charter Statistics: Average Rates Per Day $ 10,832 $ 9,425 $ 8,156 $ 17,807 $ 4,721 $ 7,229 Fleet Utilization 23 % 86 % 75 % 65 % 77 % 61 % Fleet Available Days 11,193 4,066 6,161 1,166 15,159 37,746 Operating Revenues: Time charter $ 27,834 $ 33,117 $ 37,555 $ 13,409 $ 54,955 $ 166,870 Bareboat charter — — — 3,467 — 3,467 Other marine services 6,053 3,414 (1,005 ) 1,371 2,507 12,340 33,887 36,531 36,550 18,247 57,462 182,677 Direct Costs and Expenses: Operating: Personnel 13,481 12,873 12,452 3,257 29,367 71,430 Repairs and maintenance 4,024 5,457 8,095 649 7,126 25,351 Drydocking 1,810 2,113 413 114 5,741 10,191 Insurance and loss reserves 1,948 789 982 399 863 4,981 Fuel, lubes and supplies 2,513 2,650 2,848 841 3,505 12,357 Other 208 3,541 2,996 898 973 8,616 23,984 27,423 27,786 6,158 47,575 132,926 Direct Vessel Profit $ 9,903 $ 9,108 $ 8,764 $ 12,089 $ 9,887 49,751 Other Costs and Expenses: Operating: Leased-in equipment $ 5,571 $ 2,885 $ — $ — $ 34 8,490 Administrative and general 40,573 Depreciation and amortization $ 17,677 $ 8,112 $ 14,608 $ 6,020 $ 8,843 55,260 104,323 Losses on Asset Dispositions and Impairment (1,002 ) Operating Loss $ (55,574 ) As of September 30, 2018 Property and Equipment: Historical cost $ 479,303 $ 186,729 $ 310,110 $ 102,776 $ 200,082 $ 1,279,000 Accumulated depreciation (242,364 ) (53,498 ) (81,121 ) (47,374 ) (144,395 ) (568,752 ) $ 236,939 $ 133,231 $ 228,989 $ 55,402 $ 55,687 $ 710,248 United States (primarily Gulf of Mexico) Africa (primarily West Africa) Middle East and Asia Brazil, Mexico, Central and South America Europe (primarily North Sea) Total For the Three Months Ended September 30, 2017 Time Charter Statistics: Average Rates Per Day $ 7,212 $ 10,611 $ 7,138 $ 16,060 $ 4,390 $ 6,006 Fleet Utilization 16 % 71 % 61 % 49 % 90 % 60 % Fleet Available Days 3,859 1,283 2,194 184 5,060 12,580 Operating Revenues: Time charter $ 4,587 $ 9,700 $ 9,490 $ 1,439 $ 20,051 $ 45,267 Bareboat charter — — — 1,168 — 1,168 Other marine services 1,116 (310 ) (341 ) 159 754 1,378 5,703 9,390 9,149 2,766 20,805 47,813 Direct Costs and Expenses: Operating: Personnel 4,455 3,588 4,731 326 9,079 22,179 Repairs and maintenance 1,289 1,324 2,309 110 2,378 7,410 Drydocking 1,109 311 (102 ) — 961 2,279 Insurance and loss reserves 598 157 363 75 203 1,396 Fuel, lubes and supplies 249 693 1,115 33 790 2,880 Other 123 704 1,192 69 190 2,278 7,823 6,777 9,608 613 13,601 38,422 Direct Vessel (Loss) Profit $ (2,120 ) $ 2,613 $ (459 ) $ 2,153 $ 7,204 9,391 Other Costs and Expenses: Operating: Leased-in equipment $ 1,870 $ 966 $ — $ — $ — 2,836 Administrative and general 10,318 Depreciation and amortization $ 5,224 $ 2,456 $ 4,320 $ 1,025 $ 2,597 15,622 28,776 Losses on Asset Dispositions and Impairments (9,744 ) Operating Loss $ (29,129 ) United States (primarily Gulf of Mexico) Africa (primarily West Africa) Middle East and Asia Brazil, Mexico, Central and South America Europe (primarily North Sea) Total For the Nine Months Ended September 30, 2017 Time Charter Statistics: Average Rates Per Day $ 8,661 $ 10,192 $ 6,916 $ 16,060 $ 4,328 $ 5,806 Fleet Utilization 12 % 67 % 55 % 24 % 84 % 54 % Fleet Available Days 11,920 3,425 5,970 379 15,015 36,709 Operating Revenues: Time charter $ 12,471 23,333 $ 22,728 $ 1,439 $ 54,829 $ 114,800 Bareboat charter — — — 3,467 — 3,467 Other marine services 3,140 97 645 396 1,895 6,173 15,611 23,430 23,373 5,302 56,724 124,440 Direct Costs and Expenses: Operating: Personnel 11,768 9,624 12,001 487 25,667 59,547 Repairs and maintenance 2,963 5,102 6,832 230 6,303 21,430 Drydocking 1,992 2,051 414 — 3,140 7,597 Insurance and loss reserves 2,608 696 1,062 86 629 5,081 Fuel, lubes and supplies 1,104 1,956 2,547 60 2,745 8,412 Other 246 2,221 3,718 73 677 6,935 20,681 21,650 26,574 936 39,161 109,002 Direct Vessel (Loss) Profit $ (5,070 ) $ 1,780 $ (3,201 ) $ 4,366 $ 17,563 15,438 Other Costs and Expenses: Operating: Leased-in equipment $ 6,286 $ 2,905 $ 862 $ — $ 64 10,117 Administrative and general 43,849 Depreciation and amortization $ 16,573 $ 6,105 $ 10,826 $ 2,474 $ 6,780 42,758 96,724 Losses on Asset Dispositions and Impairment (11,243 ) Operating Loss $ (92,529 ) As of September 30, 2017 Property and Equipment: Historical cost $ 429,500 $ 189,845 $ 328,263 $ 78,976 $ 177,825 $ 1,204,409 Accumulated depreciation (237,210 ) (54,052 ) (93,535 ) (42,590 ) (131,532 ) (558,919 ) $ 192,290 $ 135,793 $ 234,728 $ 36,386 $ 46,293 $ 645,490 |
Equity Method Investments [Table Text Block] | Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 MexMar $ 137 $ 793 $ 2,644 $ 3,382 Other (1,164 ) (8,099 ) (4,184 ) (8,679 ) $ (1,027 ) $ (7,306 ) $ (1,540 ) $ (5,297 ) |
Note 1 - Basis of Presentatio_3
Note 1 - Basis of Presentation and Accounting Policies (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | 9 Months Ended | |||||
Jun. 30, 2018 | Jun. 30, 2018 | Sep. 30, 2018 | Sep. 30, 2017 | Jan. 01, 2019 | Dec. 31, 2017 | Jun. 01, 2017 | Dec. 31, 2016 | |
Common Stock, Par or Stated Value Per Share | $ 0.01 | $ 0.01 | $ 0.01 | |||||
Contract with Customer, Liability, Total | $ 9,669 | $ 10,100 | $ 10,104 | $ 6,953 | ||||
Capitalized Interest Costs, Including Allowance for Funds Used During Construction, Total | 1,600 | |||||||
Impairment of Long-Lived Assets Held-for-use | 3,000 | |||||||
Equity Method Investment, Other than Temporary Impairment | $ 1,200 | |||||||
Effective Income Tax Rate Reconciliation, Percent, Total | 15.50% | 27.40% | ||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 0.01 | |||||||
Incremental Common Shares Attributable to Conversion of Debt Securities, Total | 2,183,708 | 4,070,500 | ||||||
Weighted Average Number of Shares Outstanding, Basic and Diluted | 21,035,214 | 19,312,923 | ||||||
Earnings Per Share, Basic and Diluted, Total | $ 1.19 | $ 2.79 | ||||||
Scenario, Forecast [Member] | Minimum [Member] | ||||||||
Operating Lease, Right-of-Use Asset | $ 40,000 | |||||||
Operating Lease, Liability, Total | 40,000 | |||||||
Scenario, Forecast [Member] | Maximum [Member] | ||||||||
Operating Lease, Right-of-Use Asset | 75,000 | |||||||
Operating Lease, Liability, Total | $ 75,000 | |||||||
Previously Reported [Member] | ||||||||
Earnings Per Share, Basic and Diluted, Total | $ 1.25 | $ 3 | ||||||
Restatement Adjustment [Member] | ||||||||
Weighted Average Number of Shares Outstanding, Basic and Diluted | 1,056,698 | 1,345,681 | ||||||
Restricted Stock [Member] | ||||||||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 196,338 | |||||||
Employee Stock Option [Member] | ||||||||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 732,191 | |||||||
Two Customers [Member] | ||||||||
Contract with Customer, Liability, Total | $ 400 | |||||||
Geographic Distribution, Domestic [Member] | ||||||||
Contract with Customer, Liability, Total | 6,800 | |||||||
Geographic Distribution, Foreign [Member] | ||||||||
Contract with Customer, Liability, Total | $ 2,500 |
Note 1 - Basis of Presentatio_4
Note 1 - Basis of Presentation and Accounting Policies - Deferred Revenues (Details) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2017 | |
Balance at beginning of period | $ 10,104 | $ 6,953 |
Revenues deferred during the period | 2,756 | 3,147 |
Revenues recognized during the period | (3,191) | |
Balance at end of period | $ 9,669 | $ 10,100 |
Note 1 - Basis of Presentatio_5
Note 1 - Basis of Presentation and Accounting Policies - Property and Equipment Useful Life (Details) | 9 Months Ended |
Sep. 30, 2018 | |
Wind Farm Utility Vessel [Member] | |
Estimated useful life (Year) | 10 years |
Offshore Support Vessels [Member] | |
Estimated useful life (Year) | 20 years |
Note 1 - Basis of Presentatio_6
Note 1 - Basis of Presentation and Accounting Policies - Deferred Gain Activity (Details) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2017 | |
Balance at beginning of period | $ 25,006 | $ 33,910 |
Amortization of deferred gains included in operating expenses as a reduction to rental expense | (6,053) | (6,109) |
Other adjustments | (416) | (364) |
Balance at end of period | $ 18,537 | $ 27,437 |
Note 1 - Basis of Presentatio_7
Note 1 - Basis of Presentation and Accounting Policies - Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Balance | $ 523,166 | |||
$ (824) | $ 1,605 | (1,458) | $ 4,335 | |
Income tax expense | (11) | (541) | (46) | (1,428) |
Balance | 564,888 | 564,888 | ||
Other comprehensive loss | (835) | $ 1,064 | (1,504) | $ 2,907 |
Accumulated Foreign Currency Adjustment Attributable to Parent [Member] | ||||
Balance | (13,195) | |||
(1,358) | ||||
Income tax expense | ||||
Balance | (14,553) | (14,553) | ||
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent [Member] | ||||
Balance | 702 | |||
(48) | ||||
Income tax expense | (46) | |||
Balance | 608 | 608 | ||
AOCI Attributable to Parent [Member] | ||||
Balance | (12,493) | |||
(1,406) | ||||
Income tax expense | (46) | |||
Balance | (13,945) | (13,945) | ||
Other comprehensive loss | (1,452) | |||
Accumulated Foreign Currency Adjustment Attributable to Noncontrolling Interest [Member] | ||||
Balance | (1,357) | |||
(48) | ||||
Income tax expense | ||||
Balance | (1,405) | (1,405) | ||
Accumulated Gain (Loss), Net, Cash Flow Hedge, Noncontrolling Interest [Member] | ||||
Balance | 1 | |||
(4) | ||||
Income tax expense | ||||
Balance | $ (3) | $ (3) |
Note 2 - Equipment Acquisitio_2
Note 2 - Equipment Acquisitions and Dispositions (Details Textual) $ in Millions | 9 Months Ended |
Sep. 30, 2018USD ($) | |
Payments to Acquire Property, Plant, and Equipment, Including Fair Value Hedges | $ 44.6 |
Proceeds from Sale of Property, Plant, and Equipment, Including Deposits | 4 |
Proceeds from Sale of Property, Plant, and Equipment, Excluding Deposits for Future Vessel Sales | 3.9 |
Proceeds from Deposits | 0.1 |
Gain (Loss) on Disposition of Property Plant Equipment, Total | 2 |
Increase (Decrease) in Customer Deposits | $ 1.4 |
Wind Farm Utility Vessel [Member] | |
Number of Equipment Acquired | 2 |
Number of Equipment Sold | 1 |
Supply Vessels [Member] | |
Number of Equipment Acquired | 2 |
Liftboats [Member] | |
Number of Equipment Acquired | 6 |
Anchor Handling Towing Supply [Member] | |
Number of Equipment Acquired | 2 |
Number of Equipment Sold | 1 |
Fast Support Vessels Previously Retired [Member] | |
Number of Equipment Sold | 1 |
Supply Vessel Previously Retired [Member] | |
Number of Equipment Sold | 2 |
Standby Safety Vessels [Member] | |
Number of Equipment Sold | 2 |
Fast Support Vessels [Member] | |
Number of Equipment Sold | 3 |
Note 3 - Investments, at Equi_2
Note 3 - Investments, at Equity, and Advances to 50% or Less Owned Companies (Details Textual) $ in Thousands | Sep. 28, 2018USD ($) | Sep. 13, 2018USD ($) | Jan. 17, 2018USD ($) | Sep. 30, 2018USD ($) | Sep. 30, 2017USD ($) | Sep. 27, 2018USD ($) |
Payments to Acquire Property, Plant, and Equipment, Total | $ 37,763 | $ 52,353 | ||||
Unrecorded Unconditional Purchase Obligation, Total | 34,500 | |||||
Equity Method Investment, Other than Temporary Impairment | 1,200 | |||||
Proceeds from Divestiture of Interest in Joint Venture | 8,017 | |||||
Guarantor Obligations, Maximum Exposure, Undiscounted | 46,100 | |||||
Grant DIS [Member] | ||||||
Capital Call | 500 | |||||
SeaCosco Offshore LLC [Member] | ||||||
Number of Equipment Operated | 8 | |||||
Payments to Acquire Property, Plant, and Equipment, Total | $ 161,100 | |||||
Equity Method Investment, Ownership Percentage | 50.00% | |||||
Partners' Capital Account, Contributions | 27,000 | |||||
Unrecorded Unconditional Purchase Obligation, Total | 5,300 | |||||
SEACOR Holdings [Member] | ||||||
Equity Method Investment, Other than Temporary Impairment | $ 1,200 | |||||
SEACOR Marlin LLC [Member] | ||||||
Equity Method Investment, Ownership, Percent Sold | 51.00% | |||||
Proceeds from Divestiture of Interest in Joint Venture | $ 8,000 | |||||
Gain (Loss) on Disposition of Business | $ 400 | |||||
OSV Partners [Member] | ||||||
Secured Long-term Debt, Noncurrent | $ 27,300 | |||||
Investment in Affiliates, Amount of Preferred Equity Offereing Participated | $ 5,000 | |||||
Payments to Acquire Interest in Subsidiaries and Affiliates, Total | 1,100 | |||||
Commitment to Invest Additional Funds if Call By General Partner | 1,100 | |||||
Payments to Acquire Loans Receivable | 2,100 | |||||
OSV Partners [Member] | General Partner [Member] | ||||||
Partners' Capital Account, Contributions | $ 5,000 | |||||
Other Offshore Marine Services Joint Ventures [Member] | ||||||
Equity Method Investment, Ownership Percentage | 50.00% | |||||
Guarantor Obligations, Maximum Exposure, Undiscounted | $ 500 | |||||
Allocable Share of Uncalled Capital | $ 1,000 |
Note 4 - Long-term Debt (Detail
Note 4 - Long-term Debt (Details Textual) $ / shares in Units, € in Millions | Sep. 26, 2018USD ($) | May 02, 2018USD ($)$ / sharesshares | Feb. 08, 2018USD ($) | Nov. 08, 2018USD ($) | Sep. 30, 2018USD ($)$ / shares | Sep. 30, 2017USD ($) | Sep. 30, 2018USD ($)$ / shares | Sep. 30, 2018EUR (€) | Sep. 30, 2017USD ($) | Oct. 31, 2018USD ($) | Sep. 25, 2018USD ($) | Jul. 05, 2018USD ($) | Jun. 30, 2018 | May 31, 2018$ / shares | May 24, 2018$ / shares | Dec. 31, 2017$ / shares | Dec. 01, 2015USD ($) |
Debt Instrument, Interest Rate, Stated Percentage | 2.00% | ||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | $ 0.01 | $ 0.01 | |||||||||||||||
Repayments of Long-term Debt, Total | $ 38,053,000 | $ 8,572,000 | |||||||||||||||
Debt Instrument, Increase (Decrease), Net, Total | $ 30,100,000 | 1,000,000 | |||||||||||||||
Gain (Loss) on Extinguishment of Debt, Total | $ (638,000) | (638,000) | |||||||||||||||
Other Labor and Performance Guarantee | 2,500,000 | 2,500,000 | |||||||||||||||
Long-term Debt Obligation [Member] | |||||||||||||||||
Letters of Credit Outstanding, Amount | 5,800,000 | 5,800,000 | |||||||||||||||
Lease Obligation [Member] | |||||||||||||||||
Letters of Credit Outstanding, Amount | $ 300,000 | $ 300,000 | |||||||||||||||
Subsequent Event [Member] | |||||||||||||||||
Repayments of Long-term Debt, Total | $ 7,000,000 | ||||||||||||||||
Falcon Global Holdings [Member] | |||||||||||||||||
Noncontrolling Interest, Ownership Percentage by Parent | 72.00% | 72.00% | |||||||||||||||
Falcon Global USA LLC [Member] | |||||||||||||||||
Payments for Debtor-in-possession Obligations | $ 15,000,000 | ||||||||||||||||
Convertible Senior Notes Converted to Warrants [Member] | Carlyle Group [Member] | |||||||||||||||||
Debt Instrument, Convertible, Conversion Ratio | 37.73 | ||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | $ 0.01 | ||||||||||||||||
Debt Conversion, Original Debt, Amount | $ 50,000,000 | ||||||||||||||||
Debt Conversion, Converted Instrument, Shares Issued | shares | 1,886,792 | ||||||||||||||||
Debt Instrument, Convertible, Conversion Price | $ / shares | $ 26.50 | ||||||||||||||||
Conversion Revolving Credit Facility from Windcat Workboats [Member] | |||||||||||||||||
Debt Conversion, Original Debt, Amount | € | € 6 | ||||||||||||||||
Carlyle Warrants [Member] | |||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | $ 0.01 | $ 0.01 | $ 0.01 | $ 0.01 | |||||||||||||
Warrants and Rights Outstanding, Term | 25 years | ||||||||||||||||
Convertible Senior Notes 3.75% [Member] | |||||||||||||||||
Convertible Debt, Total | $ 125,000,000 | $ 175,000,000 | |||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 4.25% | 3.75% | |||||||||||||||
Debt Instrument, Convertible, Conversion Ratio | 23.26 | 23.26 | |||||||||||||||
FGUSA Credit Facility [Member] | |||||||||||||||||
Debt Agreement, Maximum Borrowing Capacity | 131,100,000 | ||||||||||||||||
Debt Instrument, Unamortized Discount, Total | 10,000,000 | ||||||||||||||||
FGUSA Credit Facility [Member] | Revolving Credit Facility [Member] | |||||||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | 15,000,000 | ||||||||||||||||
Debt Instrument, Interest Rate, Effective Percentage | 6.63% | 6.63% | |||||||||||||||
Proceeds from Lines of Credit, Total | $ 15 | ||||||||||||||||
FGUSA Credit Facility [Member] | Term Loan [Member] | |||||||||||||||||
Long-term Debt, Total | $ 116,100,000 | ||||||||||||||||
Euro Debt [Member] | |||||||||||||||||
Repayments of Long-term Debt, Total | 7,500,000 | ||||||||||||||||
Pound Sterling Debt [Member] | |||||||||||||||||
Proceeds from Issuance of Long-term Debt, Total | $ 8,500,000 | ||||||||||||||||
Term Loan to Acquire Two Vessels [Member] | |||||||||||||||||
Debt Instrument, Interest Rate, Effective Percentage | 5.90% | ||||||||||||||||
Debt Instrument, Face Amount | $ 11,000,000 | ||||||||||||||||
Term Loan to Acquire Two Vessels [Member] | Interest Rate Swap [Member] | Subsequent Event [Member] | |||||||||||||||||
Derivative, Notional Amount | $ 5,500,000 | ||||||||||||||||
Loan Facility With DNB Bank ASA [Member] | |||||||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 130,000,000 | ||||||||||||||||
Debt Instrument, Interest Rate, Effective Percentage | 6.1875% | ||||||||||||||||
Debt Instrument, Face Amount | $ 130,000,000 | ||||||||||||||||
Debt Instrument, Periodic Payment, Principal | 3,300,000 | ||||||||||||||||
Loan Facility With DNB Bank ASA [Member] | Interest Rate Swap [Member] | Subsequent Event [Member] | |||||||||||||||||
Derivative, Notional Amount | $ 65,500,000 | ||||||||||||||||
Other DNB Credit Facilities [Member] | |||||||||||||||||
Long-term Debt, Total | $ 99,900,000 | ||||||||||||||||
Repayments of Lines of Credit | 101,300,000 | ||||||||||||||||
Interest Payable | $ 1,400,000 | ||||||||||||||||
Gain (Loss) on Extinguishment of Debt, Total | $ (600,000) |
Note 5 - Income Taxes (Details
Note 5 - Income Taxes (Details Textual) - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2018 | Dec. 31, 2017 | |
Operating Loss Carryforwards, Total | $ 3.9 | |
Increase (Decrease) in Transition Tax Liability | $ 3.4 |
Note 5 - Income Taxes - Income
Note 5 - Income Taxes - Income Tax Rate Reconciliation (Details) | 9 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2017 | |
Statutory rate | 21.00% | |
Noncontrolling interests | (1.00%) | |
Foreign earnings not subject to U.S. income tax | (3.20%) | |
Foreign taxes not creditable against U.S. income tax | (2.90%) | |
Unrecognized tax benefit | 4.50% | |
Return to provision adjustment | (4.00%) | |
Other | 1.10% | |
15.50% | 27.40% |
Note 6 - Derivative Instrumen_3
Note 6 - Derivative Instruments and Hedging Strategies (Details Textual) € in Millions, $ in Millions | Oct. 01, 2018USD ($) | Sep. 30, 2018USD ($) | Sep. 30, 2018EUR (€) | Sep. 28, 2018USD ($) | |
Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | |||||
Derivative Asset, Total | [1] | ||||
Interest Rate Swap [Member] | OSV Partners [Member] | |||||
Derivative, Number of Instruments Held, Total | 2 | 2 | |||
Derivative, Notional Amount | $ 29.2 | ||||
Interest Rate Swap [Member] | OSV Partners [Member] | Minimum [Member] | |||||
Derivative, Fixed Interest Rate | 1.89% | 1.89% | |||
Interest Rate Swap [Member] | OSV Partners [Member] | Maximum [Member] | |||||
Derivative, Fixed Interest Rate | 2.27% | 2.27% | |||
Interest Rate Swap [Member] | Falcon Global [Member] | |||||
Derivative, Fixed Interest Rate | 2.06% | ||||
Derivative, Notional Amount | $ 51.6 | ||||
Interest Rate Swap [Member] | Falcon Global [Member] | Subsequent Event [Member] | |||||
Derivative Asset, Total | $ 1.2 | ||||
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | |||||
Derivative, Number of Instruments Held, Total | 2 | 2 | |||
Derivative, Fixed Interest Rate | 0.03% | 0.03% | |||
Derivative, Notional Amount | $ 17.5 | € 15 | |||
Derivative Asset, Total | [1] | ||||
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | MexMar [Member] | |||||
Derivative, Number of Instruments Held, Total | 5 | 5 | |||
Derivative, Notional Amount | $ 100.5 | ||||
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | MexMar [Member] | Minimum [Member] | |||||
Derivative, Fixed Interest Rate | 1.71% | 1.71% | |||
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | MexMar [Member] | Maximum [Member] | |||||
Derivative, Fixed Interest Rate | 2.10% | 2.10% | |||
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Sea-Cat Crewzer II [Member] | |||||
Derivative, Fixed Interest Rate | 1.52% | ||||
Derivative, Notional Amount | $ 19.1 | ||||
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Sea-Cat Crewzer II [Member] | Subsequent Event [Member] | |||||
Derivative Asset, Total | 0.2 | ||||
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Sea-Cat Crewzer [Member] | |||||
Derivative, Fixed Interest Rate | 1.52% | ||||
Derivative, Notional Amount | $ 16.9 | ||||
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Sea-Cat Crewzer [Member] | Subsequent Event [Member] | |||||
Derivative Asset, Total | $ 0.2 | ||||
[1] | Included in other receivables in the accompanying condensed consolidated balance sheets. |
Note 6 - Derivative Instrumen_4
Note 6 - Derivative Instruments and Hedging Strategies - Derivative Instruments (Details) $ in Thousands | Sep. 30, 2018USD ($) | |
Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | ||
Derivative assets | [1] | |
Derivative liabilities | 10 | |
Not Designated as Hedging Instrument [Member] | ||
Derivative assets | 1,565 | [1] |
Derivative liabilities | 17,963 | |
Conversion option liability on Convertible Senior Notes | 17,928 | |
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | ||
Derivative assets | [1] | |
Derivative liabilities | 10 | [2] |
Interest Rate Swap [Member] | Not Designated as Hedging Instrument [Member] | ||
Derivative assets | 1,565 | [1] |
Derivative liabilities | $ 25 | |
[1] | Included in other receivables in the accompanying condensed consolidated balance sheets. | |
[2] | Included in other current liabilities in the accompanying condensed consolidated balance sheets. |
Note 6 - Derivative Instrumen_5
Note 6 - Derivative Instruments and Hedging Strategies - Gains (Losses) on Derivative Instruments (Details) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2017 | |
Gains (losses) on derivative instruments | $ (9,797) | $ 12,720 |
Embedded Derivative Financial Instruments [Member] | ||
Gains (losses) on derivative instruments | (11,096) | 13,119 |
Foreign Exchange Option [Member] | ||
Gains (losses) on derivative instruments | (78) | |
Interest Rate Swap [Member] | ||
Gains (losses) on derivative instruments | $ 1,299 | $ (321) |
Note 7 - Fair Value Measureme_3
Note 7 - Fair Value Measurements (Details Textual) $ in Millions | 9 Months Ended | |
Sep. 30, 2018USD ($) | Jun. 30, 2018 | |
Impairment of Long-Lived Assets Held-for-use | $ 3 | |
Debt Instrument, Interest Rate, Stated Percentage | 2.00% | |
Minimum [Member] | Economic Obsolesence Factor [Member] | ||
Property and Equipment, Measurement Input | 0.45 | |
Maximum [Member] | Economic Obsolesence Factor [Member] | ||
Property and Equipment, Measurement Input | 0.5 | |
Liftboats [Member] | Minimum [Member] | ||
Property, Plant and Equipment, Useful Life | 25 years | |
Liftboats [Member] | Maximum [Member] | ||
Property, Plant and Equipment, Useful Life | 40 years |
Note 7 - Fair Value Measureme_4
Note 7 - Fair Value Measurements - Assets and Liabilities on Recurring Basis (Details) - Fair Value, Measurements, Recurring [Member] $ in Thousands | Sep. 30, 2018USD ($) |
Fair Value, Inputs, Level 1 [Member] | |
Derivative assets | |
Construction reserve funds | 35,596 |
Derivative liabilities | |
Fair Value, Inputs, Level 2 [Member] | |
Derivative assets | 1,565 |
Construction reserve funds | |
Derivative liabilities | 35 |
Fair Value, Inputs, Level 3 [Member] | |
Derivative assets | |
Construction reserve funds | |
Derivative liabilities | $ 17,928 |
Note 7 - Fair Value Measureme_5
Note 7 - Fair Value Measurements - Estimated Fair Value (Details) $ in Thousands | Sep. 30, 2018USD ($) |
Reported Value Measurement [Member] | |
Cash, cash equivalents and restricted cash | $ 104,519 |
Investments, at cost, in 50% or less owned companies (included in other assets) | 132 |
Long-term debt, including current portion | 415,164 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | |
Cash, cash equivalents and restricted cash | 104,519 |
Long-term debt, including current portion | |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | |
Cash, cash equivalents and restricted cash | |
Investments, at cost, in 50% or less owned companies (included in other assets) | |
Long-term debt, including current portion | 416,888 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | |
Cash, cash equivalents and restricted cash | |
Investments, at cost, in 50% or less owned companies (included in other assets) | |
Long-term debt, including current portion |
Note 7 - Fair Value Measureme_6
Note 7 - Fair Value Measurements - Other Assets and Liabilities at Fair Value (Details) $ in Thousands | Sep. 30, 2018USD ($) |
Fair Value, Inputs, Level 1 [Member] | Anchor Handling Towing Supply [Member] | |
Property and equipment | |
Fair Value, Inputs, Level 1 [Member] | Liftboats [Member] | |
Property and equipment | |
Fair Value, Inputs, Level 2 [Member] | Anchor Handling Towing Supply [Member] | |
Property and equipment | 2,000 |
Fair Value, Inputs, Level 2 [Member] | Liftboats [Member] | |
Property and equipment | |
Fair Value, Inputs, Level 3 [Member] | Anchor Handling Towing Supply [Member] | |
Property and equipment | |
Fair Value, Inputs, Level 3 [Member] | Liftboats [Member] | |
Property and equipment | $ 134,775 |
Note 8 - Warrants (Details Text
Note 8 - Warrants (Details Textual) - USD ($) | Jun. 08, 2018 | May 31, 2018 | May 02, 2018 | Apr. 26, 2018 | Sep. 30, 2018 | May 24, 2018 | Dec. 31, 2017 |
Stock Issued During Period, Value, New Issues | $ 42,996,000 | ||||||
Class of Warrant or Right, Outstanding | 2,271,406 | ||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 0.01 | ||||||
Class of Warrant or Right, Exercised During Period | 289,550 | ||||||
Class of Warrant or Right, Exercised During Period, Exercise Price | $ 0.01 | ||||||
Carlyle Group [Member] | Convertible Senior Notes Converted to Warrants [Member] | |||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 0.01 | ||||||
Debt Conversion, Original Debt, Amount | $ 50,000,000 | ||||||
Warrants Issued in Private Placement [Member] | |||||||
Class of Warrant or Right, Outstanding | 2,168,586 | ||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 674,164 | ||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 0.01 | ||||||
Warrants and Rights Outstanding, Term | 25 years | ||||||
Carlyle Warrants [Member] | |||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 1,636,099 | ||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 0.01 | $ 0.01 | $ 0.01 | ||||
Warrants and Rights Outstanding, Term | 25 years | ||||||
Class of Warrant or Right, Exercised During Period | 250,585 | ||||||
Shares Paid for Tax Withholding for Exercise of Warrants | 108 | ||||||
PIPE Warrants [Member] | |||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 635,307 | ||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 0.01 | ||||||
Class of Warrant or Right, Exercised During Period | 38,857 | ||||||
Class of Warrant or Right, Exercised During Period, Exercise Price | $ 0.01 | ||||||
Private Placement [Member] | |||||||
Stock Issued During Period, Value, New Issues | $ 56,855,000 |
Note 8 - Warrants - Warrant Act
Note 8 - Warrants - Warrant Activity (Details) | 9 Months Ended |
Sep. 30, 2018$ / sharesshares | |
Balance (in dollars per share) | $ / shares | |
Balance, weighted average exercise price (in shares) | shares | |
Warrants issued (in dollars per share) | $ / shares | $ 0.01 |
Warrants issued, weighted average exercise price (in shares) | shares | 2,560,956 |
Warrants exercised (in dollars per share) | $ / shares | $ 0.01 |
Warrants exercised, weighted average exercise price (in shares) | shares | (289,550) |
Balance (in dollars per share) | $ / shares | $ 0.01 |
Balance, weighted average exercise price (in shares) | shares | 2,271,406 |
Note 9 - Stockholders' Equity (
Note 9 - Stockholders' Equity (Details Textual) - USD ($) | May 02, 2018 | Apr. 26, 2018 | Mar. 26, 2018 | Feb. 08, 2018 | Sep. 30, 2018 | Jan. 01, 2018 | Dec. 31, 2017 |
Cumulative Effect of New Accounting Principle in Period of Adoption | $ (12,069,000) | ||||||
Stock Issued During Period, Shares, New Issues | 103,213 | ||||||
Proceeds from Issuance of Private Placement | $ 1,800,000 | ||||||
Stock Issued During Period, Value, New Issues | $ 42,996,000 | ||||||
Carlyle Group [Member] | Convertible Senior Notes Converted to Warrants [Member] | |||||||
Debt Conversion, Original Debt, Amount | $ 50,000,000 | ||||||
Private Placement [Member] | |||||||
Stock Issued During Period, Value, New Issues | $ 56,855,000 | ||||||
FGUSA Credit Facility [Member] | |||||||
Debt Agreement, Maximum Borrowing Capacity | $ 131,100,000 | ||||||
Debt Instrument, Unamortized Discount, Total | 10,000,000 | ||||||
Falcon Global USA LLC [Member] | |||||||
Payments for Debtor-in-possession Obligations | $ 15,000,000 | ||||||
Retained Earnings [Member] | |||||||
Cumulative Effect of New Accounting Principle in Period of Adoption | $ (12,100,000) | $ (12,069,000) | |||||
Stock Issued During Period, Value, New Issues |
Note 10 - Noncontrolling Inte_3
Note 10 - Noncontrolling Interests in Subsidiaries (Details Textual) - USD ($) $ in Thousands | Feb. 08, 2018 | Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 |
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest, Total | $ (15,766) | $ (22,356) | $ (74,083) | $ (66,444) | |
Net Income (Loss) Attributable to Noncontrolling Interest, Total | 191 | $ (1,881) | (4,269) | $ (4,582) | |
Falcon Global Holdings [Member] | |||||
Joint Venture, Total Capital | $ 112,500 | ||||
Joint Venture, Contribution from Previous Joint Venture | 43,300 | ||||
Joint Venture, Contribution from Noncontrolling Interest | $ 18,800 | ||||
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners | 28.00% | ||||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest, Total | 14,200 | ||||
Net Income (Loss) Attributable to Noncontrolling Interest, Total | 4,000 | ||||
Windcat Workboats [Member] | |||||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest, Total | 2,000 | ||||
Net Income (Loss) Attributable to Noncontrolling Interest, Total | 200 | ||||
Net Assets, Ending Balance | $ 18,500 | $ 18,500 |
Note 10 - Noncontrolling Inte_4
Note 10 - Noncontrolling Interests in Subsidiaries - Noncontrolling Interest (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Noncontrolling interest | $ 29,627 | $ 14,975 |
Falcon Global [Member] | ||
Noncontrolling interest percent | 28.00% | |
Noncontrolling interest | $ 27,024 | 12,087 |
Windcat Workboats [Member] | ||
Noncontrolling interest percent | 12.50% | |
Noncontrolling interest | $ 2,311 | 2,608 |
Other Noncontrolling Interests [Member] | ||
Noncontrolling interest percent | 1.80% | |
Noncontrolling interest | $ 292 | $ 280 |
Note 11 - Commitments and Con_2
Note 11 - Commitments and Contingencies (Details Textual) € in Millions, $ in Millions | 9 Months Ended | |
Sep. 30, 2018USD ($) | Sep. 30, 2018EUR (€) | |
Unrecorded Unconditional Purchase Obligation, Total | $ 34.5 | |
Unrecorded Unconditional Purchase Obligation, Due in Remainder of Fiscal Year | 2.7 | |
Unrecorded Unconditional Purchase Obligation, Due within Two Years | 17.3 | |
Unrecorded Unconditional Purchase Obligation, Due within Three Years | 14.5 | |
Unrecorded Unconditional Purchase Obligation, Due within Four Years | 20.8 | |
Guarantor Obligations, Maximum Exposure, Undiscounted | $ 46.1 | |
SEACOR Holdings [Member] | ||
Related Party Transaction, Rate | 0.50% | |
Line of Credit [Member] | Performance Guarantee [Member] | ||
Guarantor Obligations, Maximum Exposure, Undiscounted | € | € 0.9 | |
SeaCosco Offshore LLC [Member] | ||
Unrecorded Unconditional Purchase Obligation, Total | $ 5.3 | |
Fast Support Vessels [Member] | ||
Unrecorded Unconditional Purchase Obligation, Maximum Quantity | 2 | 2 |
Supply Vessels [Member] | ||
Unrecorded Unconditional Purchase Obligation, Maximum Quantity | 3 | 3 |
Wind Farm Utility Vessel [Member] | ||
Unrecorded Unconditional Purchase Obligation, Maximum Quantity | 2 | 2 |
Standby Safety Vessels [Member] | ||
Unrecorded Unconditional Purchase Obligation, Maximum Quantity | 1 | 1 |
Note 12 - Multi-employer Pens_2
Note 12 - Multi-employer Pension Plans (Details Textual) - Merchant Navy Ratings Pension Fund [Member] $ in Thousands, € in Millions | 12 Months Ended | |||
Sep. 30, 2019USD ($) | Sep. 30, 2019EUR (€) | Mar. 31, 2017USD ($) | Mar. 31, 2017EUR (€) | |
Multiemployer Plans, Cumulative Funding Deficit | $ 291,900 | € 221 | ||
Scenario, Forecast [Member] | ||||
Multiemployer Plan, Contributions by Employer | $ 1,190 | € 0.9 |
Note 13 - Share Based Compens_3
Note 13 - Share Based Compensation - Equity Incentive Plan Transactions (Details) | 9 Months Ended |
Sep. 30, 2018shares | |
Outstanding as of December 31, 2017 (in shares) | 613,700 |
Granted (in shares) | 183,491 |
Exercised (in shares) | 65,000 |
Outstanding as of September 30, 2018 (in shares) | 732,191 |
Shares Available for future grants as of September 30, 2018 (in shares) | 1,232,924 |
Director Stock Awards [Member] | |
Granted (in shares) | 19,285 |
Restricted Stock [Member] | |
Granted (in shares) | 120,600 |
Note 14 - Stock Repurchases (De
Note 14 - Stock Repurchases (Details Textual) - USD ($) | May 24, 2018 | Sep. 30, 2018 | May 31, 2018 | Dec. 31, 2017 |
Treasury Stock, Shares, Acquired | 108 | 3,664 | ||
Treasury Stock, Value, Acquired, Cost Method | $ 2,562 | $ 83,922 | ||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 0.01 | |||
Carlyle Warrants [Member] | ||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 0.01 | $ 0.01 | $ 0.01 |
Note 15 - Segment Information_2
Note 15 - Segment Information (Details Textual) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures, Total | $ 120,340 | $ 92,169 |
MexMar [Member] | ||
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures, Total | 63,800 | |
Other Offshore Marine Services Joint Ventures [Member] | ||
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures, Total | $ 56,500 |
Note 15 - Segment Information -
Note 15 - Segment Information - Summary of Reportable Segments (Details) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2018USD ($) | Sep. 30, 2017USD ($) | Sep. 30, 2018USD ($) | Sep. 30, 2017USD ($) | Dec. 31, 2017USD ($) | |
Average Rates Per Day | $ 7,323 | $ 6,006 | $ 7,229 | $ 5,806 | |
Fleet Utilization | 68.00% | 60.00% | 61.00% | 54.00% | |
Fleet Available Days | 12,617 | 12,580 | 37,746 | 36,709 | |
Operating Revenues | $ 70,255 | $ 47,813 | $ 182,677 | $ 124,440 | |
Direct Costs and Expenses | 48,598 | 38,422 | 132,926 | 109,002 | |
Direct Vessel Profit | 21,657 | 9,391 | 49,751 | 15,438 | |
Operating expenses | 32,401 | 28,776 | 104,323 | 96,724 | |
Administrative and general | 12,234 | 10,318 | 40,573 | 43,849 | |
Depreciation and amortization | 17,342 | 15,622 | 55,260 | 42,758 | |
Gains (Losses) on Asset Dispositions and Impairments, Net | 586 | (9,744) | (1,002) | (11,243) | |
Operating Loss | (10,158) | (29,129) | (55,574) | (92,529) | |
Historical cost | 1,279,000 | 1,204,409 | 1,279,000 | 1,204,409 | $ 1,179,836 |
Accumulated depreciation | (568,752) | (558,919) | (568,752) | (558,919) | (560,160) |
710,248 | 645,490 | 710,248 | 645,490 | $ 619,676 | |
Leased-in Equipment [Member] | |||||
Operating expenses | 2,825 | 2,836 | 8,490 | 10,117 | |
Time Charter [Member] | |||||
Operating Revenues | 62,902 | 45,267 | 166,870 | 114,800 | |
Bareboat Charter [Member] | |||||
Operating Revenues | 1,168 | 1,168 | 3,467 | 3,467 | |
Other Marine Services [Member] | |||||
Operating Revenues | 6,185 | 1,378 | 12,340 | 6,173 | |
Personnel [Member] | |||||
Direct Costs and Expenses | 25,021 | 22,179 | 71,430 | 59,547 | |
Repairs and Maintenance [Member] | |||||
Direct Costs and Expenses | 9,208 | 7,410 | 25,351 | 21,430 | |
Drydocking [Member] | |||||
Direct Costs and Expenses | 4,822 | 2,279 | 10,191 | 7,597 | |
Insurance and Loss Reserves [Member] | |||||
Direct Costs and Expenses | 1,857 | 1,396 | 4,981 | 5,081 | |
Fuel, Lubes and Supplies [Member] | |||||
Direct Costs and Expenses | 4,690 | 2,880 | 12,357 | 8,412 | |
Other Direct Costs and Expenses [Member] | |||||
Direct Costs and Expenses | 3,000 | 2,278 | 8,616 | 6,935 | |
UNITED STATES | |||||
Average Rates Per Day | $ 12,476 | $ 7,212 | $ 10,832 | $ 8,661 | |
Fleet Utilization | 30.00% | 16.00% | 23.00% | 12.00% | |
Fleet Available Days | 3,433 | 3,859 | 11,193 | 11,920 | |
Operating Revenues | $ 15,522 | $ 5,703 | $ 33,887 | $ 15,611 | |
Direct Costs and Expenses | 8,915 | 7,823 | 23,984 | 20,681 | |
Direct Vessel Profit | 6,607 | (2,120) | 9,903 | (5,070) | |
Administrative and general | |||||
Depreciation and amortization | 5,227 | 5,224 | 17,677 | 16,573 | |
Historical cost | 479,303 | 429,500 | 479,303 | 429,500 | |
Accumulated depreciation | (242,364) | (237,210) | (242,364) | (237,210) | |
236,939 | 192,290 | 236,939 | 192,290 | ||
UNITED STATES | Leased-in Equipment [Member] | |||||
Operating expenses | 1,853 | 1,870 | 5,571 | 6,286 | |
UNITED STATES | Time Charter [Member] | |||||
Operating Revenues | 12,800 | 4,587 | 27,834 | 12,471 | |
UNITED STATES | Bareboat Charter [Member] | |||||
Operating Revenues | |||||
UNITED STATES | Other Marine Services [Member] | |||||
Operating Revenues | 2,722 | 1,116 | 6,053 | 3,140 | |
UNITED STATES | Personnel [Member] | |||||
Direct Costs and Expenses | 4,853 | 4,455 | 13,481 | 11,768 | |
UNITED STATES | Repairs and Maintenance [Member] | |||||
Direct Costs and Expenses | 1,801 | 1,289 | 4,024 | 2,963 | |
UNITED STATES | Drydocking [Member] | |||||
Direct Costs and Expenses | 375 | 1,109 | 1,810 | 1,992 | |
UNITED STATES | Insurance and Loss Reserves [Member] | |||||
Direct Costs and Expenses | 612 | 598 | 1,948 | 2,608 | |
UNITED STATES | Fuel, Lubes and Supplies [Member] | |||||
Direct Costs and Expenses | 1,120 | 249 | 2,513 | 1,104 | |
UNITED STATES | Other Direct Costs and Expenses [Member] | |||||
Direct Costs and Expenses | 154 | 123 | 208 | 246 | |
Africa [Member] | |||||
Average Rates Per Day | $ 9,315 | $ 10,611 | $ 9,425 | $ 10,192 | |
Fleet Utilization | 82.00% | 71.00% | 86.00% | 67.00% | |
Fleet Available Days | 1,475 | 1,283 | 4,066 | 3,425 | |
Operating Revenues | $ 12,978 | $ 9,390 | $ 36,531 | $ 23,430 | |
Direct Costs and Expenses | 10,632 | 6,777 | 27,423 | 21,650 | |
Direct Vessel Profit | 2,346 | 2,613 | 9,108 | 1,780 | |
Administrative and general | |||||
Depreciation and amortization | 2,381 | 2,456 | 8,112 | 6,105 | |
Historical cost | 186,729 | 189,845 | 186,729 | 189,845 | |
Accumulated depreciation | (53,498) | (54,052) | (53,498) | (54,052) | |
133,231 | 135,793 | 133,231 | 135,793 | ||
Africa [Member] | Leased-in Equipment [Member] | |||||
Operating expenses | 960 | 966 | 2,885 | 2,905 | |
Africa [Member] | Time Charter [Member] | |||||
Operating Revenues | 11,201 | 9,700 | 33,117 | 23,333 | |
Africa [Member] | Bareboat Charter [Member] | |||||
Operating Revenues | |||||
Africa [Member] | Other Marine Services [Member] | |||||
Operating Revenues | 1,777 | (310) | 3,414 | 97 | |
Africa [Member] | Personnel [Member] | |||||
Direct Costs and Expenses | 4,486 | 3,588 | 12,873 | 9,624 | |
Africa [Member] | Repairs and Maintenance [Member] | |||||
Direct Costs and Expenses | 2,438 | 1,324 | 5,457 | 5,102 | |
Africa [Member] | Drydocking [Member] | |||||
Direct Costs and Expenses | 1,201 | 311 | 2,113 | 2,051 | |
Africa [Member] | Insurance and Loss Reserves [Member] | |||||
Direct Costs and Expenses | 323 | 157 | 789 | 696 | |
Africa [Member] | Fuel, Lubes and Supplies [Member] | |||||
Direct Costs and Expenses | 1,081 | 693 | 2,650 | 1,956 | |
Africa [Member] | Other Direct Costs and Expenses [Member] | |||||
Direct Costs and Expenses | 1,103 | 704 | 3,541 | 2,221 | |
Middle East and Asia [Member] | |||||
Average Rates Per Day | $ 8,156 | $ 7,138 | $ 8,156 | $ 6,916 | |
Fleet Utilization | 76.00% | 61.00% | 75.00% | 55.00% | |
Fleet Available Days | 2,024 | 2,194 | 6,161 | 5,970 | |
Operating Revenues | $ 12,507 | $ 9,149 | $ 36,550 | $ 23,373 | |
Direct Costs and Expenses | 9,033 | 9,608 | 27,786 | 26,574 | |
Direct Vessel Profit | 3,474 | (459) | 8,764 | (3,201) | |
Administrative and general | |||||
Depreciation and amortization | 4,207 | 4,320 | 14,608 | 10,826 | |
Historical cost | 310,110 | 328,263 | 310,110 | 328,263 | |
Accumulated depreciation | (81,121) | (93,535) | (81,121) | (93,535) | |
228,989 | 234,728 | 228,989 | 234,728 | ||
Middle East and Asia [Member] | Leased-in Equipment [Member] | |||||
Operating expenses | 862 | ||||
Middle East and Asia [Member] | Time Charter [Member] | |||||
Operating Revenues | 12,590 | 9,490 | 37,555 | 22,728 | |
Middle East and Asia [Member] | Bareboat Charter [Member] | |||||
Operating Revenues | |||||
Middle East and Asia [Member] | Other Marine Services [Member] | |||||
Operating Revenues | (83) | (341) | (1,005) | 645 | |
Middle East and Asia [Member] | Personnel [Member] | |||||
Direct Costs and Expenses | 4,361 | 4,731 | 12,452 | 12,001 | |
Middle East and Asia [Member] | Repairs and Maintenance [Member] | |||||
Direct Costs and Expenses | 2,091 | 2,309 | 8,095 | 6,832 | |
Middle East and Asia [Member] | Drydocking [Member] | |||||
Direct Costs and Expenses | 352 | 413 | 414 | ||
Direct Costs and Expenses | (102) | ||||
Middle East and Asia [Member] | Insurance and Loss Reserves [Member] | |||||
Direct Costs and Expenses | 385 | 363 | 982 | 1,062 | |
Middle East and Asia [Member] | Fuel, Lubes and Supplies [Member] | |||||
Direct Costs and Expenses | 892 | 1,115 | 2,848 | 2,547 | |
Middle East and Asia [Member] | Other Direct Costs and Expenses [Member] | |||||
Direct Costs and Expenses | 952 | 1,192 | 2,996 | 3,718 | |
Brazil, Mexico, Central and South America [Member] | |||||
Average Rates Per Day | $ 17,604 | $ 16,060 | $ 17,807 | $ 16,060 | |
Fleet Utilization | 80.00% | 49.00% | 65.00% | 24.00% | |
Fleet Available Days | 531 | 184 | 1,166 | 379 | |
Operating Revenues | $ 9,063 | $ 2,766 | $ 18,247 | $ 5,302 | |
Direct Costs and Expenses | 3,017 | 613 | 6,158 | 936 | |
Direct Vessel Profit | 6,046 | 2,153 | 12,089 | 4,366 | |
Administrative and general | |||||
Depreciation and amortization | 2,521 | 1,025 | 6,020 | 2,474 | |
Historical cost | 102,776 | 78,976 | 102,776 | 78,976 | |
Accumulated depreciation | (47,374) | (42,590) | (47,374) | (42,590) | |
55,402 | 36,386 | 55,402 | 36,386 | ||
Brazil, Mexico, Central and South America [Member] | Leased-in Equipment [Member] | |||||
Operating expenses | |||||
Brazil, Mexico, Central and South America [Member] | Time Charter [Member] | |||||
Operating Revenues | 7,479 | 1,439 | 13,409 | 1,439 | |
Brazil, Mexico, Central and South America [Member] | Bareboat Charter [Member] | |||||
Operating Revenues | 1,168 | 1,168 | 3,467 | 3,467 | |
Brazil, Mexico, Central and South America [Member] | Other Marine Services [Member] | |||||
Operating Revenues | 416 | 159 | 1,371 | 396 | |
Brazil, Mexico, Central and South America [Member] | Personnel [Member] | |||||
Direct Costs and Expenses | 1,662 | 326 | 3,257 | 487 | |
Brazil, Mexico, Central and South America [Member] | Repairs and Maintenance [Member] | |||||
Direct Costs and Expenses | 312 | 110 | 649 | 230 | |
Brazil, Mexico, Central and South America [Member] | Drydocking [Member] | |||||
Direct Costs and Expenses | 103 | 114 | |||
Brazil, Mexico, Central and South America [Member] | Insurance and Loss Reserves [Member] | |||||
Direct Costs and Expenses | 163 | 75 | 399 | 86 | |
Brazil, Mexico, Central and South America [Member] | Fuel, Lubes and Supplies [Member] | |||||
Direct Costs and Expenses | 427 | 33 | 841 | 60 | |
Brazil, Mexico, Central and South America [Member] | Other Direct Costs and Expenses [Member] | |||||
Direct Costs and Expenses | 350 | 69 | 898 | 73 | |
Europe [Member] | |||||
Average Rates Per Day | $ 4,287 | $ 4,390 | $ 4,721 | $ 4,328 | |
Fleet Utilization | 85.00% | 90.00% | 77.00% | 84.00% | |
Fleet Available Days | 5,154 | 5,060 | 15,159 | 15,015 | |
Operating Revenues | $ 20,185 | $ 20,805 | $ 57,462 | $ 56,724 | |
Direct Costs and Expenses | 17,001 | 13,601 | 47,575 | 39,161 | |
Direct Vessel Profit | 3,184 | 7,204 | 9,887 | 17,563 | |
Administrative and general | |||||
Depreciation and amortization | 3,006 | 2,597 | 8,843 | 6,780 | |
Historical cost | 200,082 | 177,825 | 200,082 | 177,825 | |
Accumulated depreciation | (144,395) | (131,532) | (144,395) | (131,532) | |
55,687 | 46,293 | 55,687 | 46,293 | ||
Europe [Member] | Leased-in Equipment [Member] | |||||
Operating expenses | 12 | 34 | 64 | ||
Europe [Member] | Time Charter [Member] | |||||
Operating Revenues | 18,832 | 20,051 | 54,955 | 54,829 | |
Europe [Member] | Bareboat Charter [Member] | |||||
Operating Revenues | |||||
Europe [Member] | Other Marine Services [Member] | |||||
Operating Revenues | 1,353 | 754 | 2,507 | 1,895 | |
Europe [Member] | Personnel [Member] | |||||
Direct Costs and Expenses | 9,659 | 9,079 | 29,367 | 25,667 | |
Europe [Member] | Repairs and Maintenance [Member] | |||||
Direct Costs and Expenses | 2,566 | 2,378 | 7,126 | 6,303 | |
Europe [Member] | Drydocking [Member] | |||||
Direct Costs and Expenses | 2,791 | 961 | 5,741 | 3,140 | |
Europe [Member] | Insurance and Loss Reserves [Member] | |||||
Direct Costs and Expenses | 374 | 203 | 863 | 629 | |
Europe [Member] | Fuel, Lubes and Supplies [Member] | |||||
Direct Costs and Expenses | 1,170 | 790 | 3,505 | 2,745 | |
Europe [Member] | Other Direct Costs and Expenses [Member] | |||||
Direct Costs and Expenses | $ 441 | $ 190 | $ 973 | $ 677 |
Note 15 - Segment Information_3
Note 15 - Segment Information - Income (Loss) in Equity Method Investments (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Equity in earnings (losses) of 50% or less owned companies | $ (1,027) | $ (7,306) | $ (1,540) | $ (5,297) |
MexMar [Member] | ||||
Equity in earnings (losses) of 50% or less owned companies | 137 | 793 | 2,644 | 3,382 |
Other Offshore Marine Services Joint Ventures [Member] | ||||
Equity in earnings (losses) of 50% or less owned companies | $ (1,164) | $ (8,099) | $ (4,184) | $ (8,679) |
Note 16 - Subsequent Event (Det
Note 16 - Subsequent Event (Details Textual) | 1 Months Ended | 9 Months Ended | ||||
Nov. 08, 2018USD ($) | Sep. 30, 2018USD ($) | Sep. 30, 2017USD ($) | Oct. 31, 2018 | Sep. 26, 2018USD ($) | Jul. 05, 2018USD ($) | |
Proceeds from Sale of Property, Plant, and Equipment, Total | $ 5,384,000 | $ 9,797,000 | ||||
Repayments of Long-term Debt, Total | $ 38,053,000 | $ 8,572,000 | ||||
Fast Support Vessels [Member] | ||||||
Number of Equipment Sold | 3 | |||||
Term Loan to Acquire Two Vessels [Member] | ||||||
Debt Instrument, Face Amount | $ 11,000,000 | |||||
Loan Facility With DNB Bank ASA [Member] | ||||||
Debt Instrument, Face Amount | $ 130,000,000 | |||||
Subsequent Event [Member] | ||||||
Proceeds from Sale of Property, Plant, and Equipment, Total | $ 8,200,000 | |||||
Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property | 5,100,000 | |||||
Repayments of Long-term Debt, Total | $ 7,000,000 | |||||
Subsequent Event [Member] | Fast Support Vessels [Member] | ||||||
Number of Equipment Sold | 3 | |||||
Subsequent Event [Member] | Liftboats [Member] | ||||||
Number of Equipment Sold | 2 | |||||
Subsequent Event [Member] | Debt With Seacor 88 and Seacor 888 [Member] | ||||||
Percentage of Debt Hedged by Interest Rate Derivatives | 50.00% | |||||
Subsequent Event [Member] | Loan Facility With DNB Bank ASA [Member] | ||||||
Percentage of Debt Hedged by Interest Rate Derivatives | 50.00% |