Segment Information | 1 5 . 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-K for the year ended December 31, 2018. Certain reclassifications of prior period information have been made to conform the current period’s reportable segment presentation as a result of the Company’s presentation of Assets Held for Sale (see Notes 1 and 16). The following tables summarize the operating results, capital expenditures and assets of the Company’s reportable segments for the periods indicated (in thousands): United States (primarily Gulf of Mexico) Africa (primarily West Africa) Middle East and Asia Latin America Europe, Continuing Operations Total For the Three Months Ended September 30, 2019 Operating Revenues: Time charter $ 10,914 $ 11,738 $ 14,798 $ 1,951 $ 10,346 $ 49,747 Bareboat charter 597 — — 1,168 — 1,765 Other marine services 838 129 414 221 1,586 3,188 12,349 11,867 15,212 3,340 11,932 54,700 Direct Costs and Expenses: Operating: Personnel 4,353 3,308 4,023 846 3,349 15,879 Repairs and maintenance 1,508 1,323 1,387 298 979 5,495 Drydocking 547 (53 ) 20 — 1 515 Insurance and loss reserves 371 230 333 31 233 1,198 Fuel, lubes and supplies 739 961 701 187 322 2,910 Other 88 499 567 (87 ) 147 1,214 7,606 6,268 7,031 1,275 5,031 27,211 Direct Vessel Profit, from Continuing Operations $ 4,743 $ 5,599 $ 8,181 $ 2,065 $ 6,901 27,489 Other Costs and Expenses: Lease expense $ 2,758 $ 761 $ 43 $ — $ 609 4,171 Administrative and general 12,509 Depreciation and amortization 5,634 2,681 3,914 1,573 2,289 16,091 32,771 Gain on Asset Dispositions and Impairments 861 Operating Loss, for Continuing Operations $ (4,421 ) United States (primarily Gulf of Mexico) Africa (primarily West Africa) Middle East and Asia Latin America Europe, Continuing Operations Total For the Nine Months Ended September 30, 2019 Operating Revenues: Time charter $ 31,547 $ 32,911 $ 40,472 $ 8,919 $ 23,987 $ 137,836 Bareboat charter 830 — — 3,467 — 4,297 Other marine services 3,290 245 991 1,129 4,634 10,289 35,667 33,156 41,463 13,515 28,621 152,422 Direct Costs and Expenses: Operating: Personnel 14,059 10,603 12,569 3,378 9,807 50,416 Repairs and maintenance 6,801 3,459 6,209 1,114 3,103 20,686 Drydocking 4,342 237 454 47 2 5,082 Insurance and loss reserves 1,804 682 1,041 232 616 4,375 Fuel, lubes and supplies 2,529 2,654 2,135 929 671 8,918 Other 291 3,378 2,460 994 1,147 8,270 29,826 21,013 24,868 6,694 15,346 97,747 Direct Vessel Profit, from Continuing Operations $ 5,841 $ 12,143 $ 16,595 $ 6,821 $ 13,275 54,675 Other Costs and Expenses: Lease expense $ 8,611 $ 2,333 $ 131 $ 1 $ 1,560 12,636 Administrative and general 36,148 Depreciation and amortization 16,473 7,796 12,437 5,168 6,726 48,600 97,384 Loss on Asset Dispositions and Impairments (2,719 ) Operating Loss, for Continuing Operations $ (45,428 ) As of September 30, 2019 Property and Equipment: Historical cost $ 329,913 $ 221,080 $ 297,735 $ 108,224 $ 113,422 $ 1,070,374 Accumulated depreciation (161,315 ) (64,748 ) (74,225 ) (50,928 ) (49,412 ) (400,628 ) $ 168,598 $ 156,332 $ 223,510 $ 57,296 $ 64,010 $ 669,746 Total Assets (1) $ 251,547 $ 167,714 $ 257,294 $ 125,138 $ 92,861 $ 894,554 (1) Total assets by region does not include corporate assets of $145,952 as of September 30, 2019. United States (primarily Gulf of Mexico) Africa (primarily West Africa) Middle East and Asia Latin America Europe, Continuing Operations Total For the Three Months Ended September 30, 2018 Operating Revenues: Time charter $ 12,800 $ 11,201 $ 12,590 $ 7,479 $ 6,796 $ 50,866 Bareboat charter — — — 1,168 — 1,168 Other 2,722 1,777 (83 ) 416 1,303 6,135 15,522 12,978 12,507 9,063 8,099 58,169 Direct Costs and Expenses: Operating: Personnel 4,853 4,486 4,361 1,662 3,804 19,166 Repairs and maintenance 1,801 2,438 2,091 312 939 7,581 Drydocking 375 1,201 352 103 1,635 3,666 Insurance and loss reserves 612 323 385 163 140 1,623 Fuel, lubes and supplies 1,120 1,081 892 427 195 3,715 Other 154 1,103 952 350 90 2,649 8,915 10,632 9,033 3,017 6,803 38,400 Direct Vessel Profit, from Continuing Operations $ 6,607 $ 2,346 $ 3,474 $ 6,046 $ 1,296 $ 19,769 Other Costs and Expenses: Lease expense $ 2,078 $ 1,061 $ 57 $ 1 $ 95 $ 3,292 Administrative and general 11,767 Depreciation and amortization 5,227 2,381 4,207 2,521 2,061 16,397 31,456 Loss on Asset Dispositions and Impairments (1,765 ) Operating Loss, for Continuing Operations $ (13,452 ) United States (primarily Gulf of Mexico) Africa (primarily West Africa) Middle East and Asia Latin America Europe, Continuing Operations Total For the Nine Months Ended September 30, 2018 Operating Revenues: Time charter $ 27,834 $ 33,117 $ 37,555 $ 13,409 $ 17,077 $ 128,992 Bareboat charter — — — 3,467 — 3,467 Other marine services 6,053 3,414 (1,005 ) 1,371 2,378 12,211 33,887 36,531 36,550 18,247 19,455 144,670 Direct Costs and Expenses: Operating: Personnel 13,481 12,873 12,452 3,257 8,426 50,489 Repairs and maintenance 4,024 5,457 8,095 649 2,481 20,706 Drydocking 1,810 2,113 413 114 2,220 6,670 Insurance and loss reserves 1,948 789 982 399 348 4,466 Fuel, lubes and supplies 2,513 2,650 2,848 841 696 9,548 Other 208 3,541 2,996 898 317 7,960 23,984 27,423 27,786 6,158 14,488 99,839 Direct Vessel Profit, from Continuing Operations $ 9,903 $ 9,108 $ 8,764 $ 12,089 $ 4,967 44,831 Other Costs and Expenses: Lease expense $ 6,187 $ 3,222 $ 175 $ 4 $ 293 9,881 Administrative and general 39,182 Depreciation and amortization $ 17,677 $ 8,112 $ 14,608 $ 6,020 $ 6,523 52,940 102,003 Loss on Asset Dispositions and Impairments (3,493 ) Operating Loss, for Continuing Operations $ (60,665 ) As of September 30, 2018 Property and Equipment: Historical cost $ 479,303 $ 186,729 $ 310,110 $ 102,776 $ 69,924 $ 1,148,842 Accumulated depreciation (242,364 ) (53,498 ) (81,121 ) (47,374 ) (42,062 ) (466,419 ) $ 236,939 $ 133,231 $ 228,989 $ 55,402 $ 27,862 $ 682,423 Total Assets (1) $ 377,798 $ 144,325 $ 261,531 $ 125,720 $ 19,893 $ 929,267 (1) The Company’s investments in 50% or less owned companies, which are accounted for under the equity method, also contribute to its consolidated results of operations. As of September 30, 2019, and 2018, the Company’s investments, at equity and advances to 50% or less owned companies in its other 50% or less owned companies were $107.3 million and $118.5 million, respectively. Equity in (losses) earnings of 50% or less owned companies for the nine months ended September 30, 2019 and 2018 were ($11.9) million and ($1.7) million, respectively. |