Oceaneering International (OII) 10-Q 30 Jul 15 2015 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information Document - shares	6 Months Ended
	Jun. 30, 2015	Jul. 24, 2015
Document Information [Line Items]
Entity Registrant Name	OCEANEERING INTERNATIONAL INC
Entity Central Index Key	73,756
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Jun. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Common Stock, Shares Outstanding		97,844,464

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Current Assets:
Cash and cash equivalents	$ 190,630	$ 430,714
Accounts receivable, net of allowances for doubtful accounts	795,891	778,372
Inventory	376,950	375,588
Other current assets	156,529	128,876
Total Current Assets	1,520,000	1,713,550
Property and Equipment, at cost	2,758,145	2,660,788
Less accumulated depreciation	1,447,934	1,354,966
Net Property and Equipment	1,310,211	1,305,822
Other Assets:
Goodwill	435,610	331,474
Investments in unconsolidated affiliates	32,164	32,624
Other non-current assets	170,349	121,470
Total Other Assets	638,123	485,568
Total Assets	3,468,334	3,504,940
Current Liabilities:
Accounts payable	135,779	123,688
Accrued liabilities	469,088	490,260
Income taxes payable	58,119	65,189
Total Current Liabilities	662,986	679,137
Long-term Debt	792,917	743,009
Other Long-term Liabilities	$ 414,267	$ 425,024
Commitments and Contingencies
Stockholders' Equity:
Common Stock	$ 27,709	$ 27,709
Additional paid-in capital	220,565	229,640
Treasury stock, at cost	(743,852)	(656,917)
Retained earnings	2,321,579	2,240,229
Accumulated other comprehensive income	(227,837)	(182,891)
Total Shareholders' Equity	1,598,164	1,657,770
Total Liabilities and Sharesholders' Equity	$ 3,468,334	$ 3,504,940

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Accounts receivable, allowances for doubtful accounts	$ 287	$ 137
Common Stock, par value	$ 0.25	$ 0.25
Common Stock, shares authorized	360,000,000	360,000,000
Common Stock, shares issued	110,834,088	110,834,088
Treasury stock, shares	12,989,624	11,220,682

Consolidated Statements Of Inco

Consolidated Statements Of Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Revenue	$ 810,303	$ 927,407	$ 1,597,075	$ 1,767,608
Cost of services and products	642,758	709,192	1,266,081	1,359,902
Gross Margin	167,545	218,215	330,994	407,706
Selling, general and administrative expense	59,605	56,904	116,404	113,533
Income from Operations	107,940	161,311	214,590	294,173
Interest income	51	41	207	120
Interest expense	(6,212)	(398)	(12,300)	(809)
Equity earnings (losses) of unconsolidated affiliates	1	8	(254)	(28)
Other income (expense), net	(6,484)	(417)	(5,784)	(123)
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest	95,296	160,545	196,459	293,333
Provision for income taxes	29,828	50,250	61,492	91,813
Net Income	$ 65,468	$ 110,295	$ 134,967	$ 201,520
Cash Dividends declared per Share	$ 0.27	$ 0.27	$ 0.54	$ 0.49
Basic Earnings per Share	0.66	1.02	1.36	1.86
Diluted Earnings per Share	$ 0.66	$ 1.02	$ 1.36	$ 1.86

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Net Income	$ 65,468	$ 110,295	$ 134,967	$ 201,520
Other comprehensive income, net of tax:
Foreign currency translation adjustments	17,456	(4,627)	(44,946)	9,458
Total other comprehensive income	17,456	(4,627)	(44,946)	9,458
Total Comprehensive Income	$ 82,924	$ 105,668	$ 90,021	$ 210,978

Consolidated Statements Of Cash

Consolidated Statements Of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Cash Flows from Operating Activities:
Net Income	$ 134,967	$ 201,520
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	121,486	109,408
Deferred income tax provision	539	17,703
Subsea BOP control systems inventory write-down	9,025	0
Net loss (gain) on sales of property and equipment	(76)	(344)
Noncash compensation	8,626	10,820
Excluding the effects of acquisitions, increase (decrease) in cash from:
Accounts receivable	5,259	(73,272)
Inventory	1,419	418
Other operating assets	(27,041)	(22,406)
Currency translation effect on working capital	(4,483)	6,518
Current liabilities	(40,949)	29,141
Other operating liabilities	(8,308)	(5,216)
Total adjustments to net income	65,497	72,770
Net Cash Provided by Operating Activities	200,464	274,290
Cash Flows from Investing Activities:
Purchases of property and equipment	(94,780)	(221,700)
Payments to Acquire Businesses, Net of Cash Acquired	(229,979)	(39,788)
Distributions of capital from unconsolidated affiliates	2,001	2,295
Dispositions of property and equipment	177	1,797
Net Cash Used in Investing Activities	(322,581)	(257,396)
Cash Flows from Financing Activities:
Proceeds from (Repayments of) Lines of Credit	0	80,000
Proceeds from Notes Payable	50,000	0
Excess tax benefits from employee benefit plans	(781)	3,083
Cash Dividends	(53,618)	(53,002)
Purchases of treasury stock	(100,459)	(35,266)
Net Cash Provided by (Used in) Financing Activities	(104,858)	(5,185)
Effect of Exchange Rate on Cash and Cash Equivalents	(13,109)	191
Net Increase (Decrease) in Cash and Cash Equivalents	(240,084)	11,900
Cash and Cash Equivalents-Beginning of Period	430,714	91,430
Cash and Cash Equivalents-End of Period	$ 190,630	$ 103,330

Summary Of Major Accounting Pol

Summary Of Major Accounting Policies	6 Months Ended
	Jun. 30, 2015
Accounting Policies [Abstract]
Summary Of Major Accounting Policies	SUMMARY OF MAJOR ACCOUNTING POLICIES Basis of Presentation . We have prepared these unaudited consolidated financial statements pursuant to instructions for quarterly reports on Form 10-Q, which we are required to file with the U.S. Securities and Exchange Commission. These financial statements do not include all information and footnotes normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States ("U.S. GAAP"). These financial statements reflect all adjustments that we believe are necessary to present fairly our financial position at June 30, 2015 and our results of operations and cash flows for the periods presented. Except as otherwise disclosed herein, all such adjustments are of a normal and recurring nature. These financial statements should be read in conjunction with the consolidated financial statements and related notes included in our annual report on Form 10-K for the year ended December 31, 2014 . The results for interim periods are not necessarily indicative of annual results. Principles of Consolidation. The consolidated financial statements include the accounts of Oceaneering International, Inc. and our 50% or more owned and controlled subsidiaries. We also consolidate entities that are determined to be variable interest entities if we determine that we are the primary beneficiary; otherwise, we account for those entities using the equity method of accounting. We use the equity method to account for our investments in unconsolidated affiliated companies of which we own an equity interest of between 20% and 50% and as to which we have significant influence, but not control, over operations. All significant intercompany accounts and transactions have been eliminated. Use of Estimates. The preparation of financial statements in conformity with U.S. GAAP requires that our management make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expense during the reporting period. Actual results could differ from those estimates. Reclassifications. Certain amounts from prior periods have been reclassified to conform with the current period presentation. Cash and Cash Equivalents. Cash and cash equivalents include demand deposits and highly liquid investments with original maturities of three months or less from the date of investment. Accounts Receivable – Allowances for Doubtful Accounts. We determine the need for allowances for doubtful accounts using the specific identification method. We do not generally require collateral from our customers. Inventory . Inventory is valued at lower of cost or market. We determine cost using the weighted-average method. During the three- and six-month periods ended June 30, 2015, we recorded an inventory write-down of $9.0 million upon our decision to cease manufacturing subsea BOP control systems. Property and Equipment and Long-Lived Intangible Assets. We provide for depreciation of property and equipment on the straight-line method over their estimated useful lives. We charge the costs of repair and maintenance of property and equipment to operations as incurred, while we capitalize the costs of improvements that extend asset lives or functionality. Upon the disposition of property and equipment, the related cost and accumulated depreciation accounts are relieved and any resulting gain or loss is included as an adjustment to cost of services and products. Intangible assets, primarily acquired in connection with business combinations, include trade names, intellectual property and customer relationships and are being amortized over their estimated useful lives. We capitalize interest on assets where the construction period is anticipated to be more than three months. We capitalized $0.5 million and $0.1 million of interest in the three-month periods ended June 30, 2015 and 2014 , respectively, and $1.1 million and $0.2 million of interest in the six-month periods ended June 30, 2015 and 2014 , respectively. We do not allocate general administrative costs to capital projects. Our management periodically, and upon the occurrence of a triggering event, reviews the realizability of our property and equipment and long-lived intangible assets, which are held and used by us, to determine whether any events or changes in circumstances indicate that the carrying amount of the asset may not be recoverable. For long-lived assets to be held and used, we base our evaluation on impairment indicators such as the nature of the assets, the future economic benefit of the assets, any historical or future profitability measurements and other external market conditions or factors that may be present. If such impairment indicators are present or other factors exist that indicate that the carrying amount of the asset may not be recoverable, we determine whether an impairment has occurred through the use of an undiscounted cash flows analysis of the asset at the lowest level for which identifiable cash flows exist. If an impairment has occurred, we recognize a loss for the difference between the carrying amount and the fair value of the asset. For assets held for sale or disposal, the fair value of the asset is measured using fair market value less cost to sell. Assets are classified as held-for-sale when we have a plan for disposal of certain assets and those assets meet the held for sale criteria. Business Acquisitions . We account for business combinations using the acquisition method of accounting, and we allocate the acquisition price to the assets acquired and liabilities assumed based on their fair market values at the date of acquisition. In April 2015, we completed the acquisition of C & C Technologies, Inc. ("C&C"). C&C is a global provider of ocean-bottom mapping services in deepwater utilizing customized autonomous underwater vehicles and provides marine construction surveys for both surface and subsea assets, as well as satellite-based positioning services for drilling rigs and seismic and construction vessels. C&C also provides land and near-shore survey services along the U.S. Gulf Coast and in Mexico, and performs shallow water conventional geophysical surveys in the U.S. Gulf of Mexico. Subject to customary post-closing working capital adjustments, the acquisition price of approximately $230 million was paid in cash. We have accounted for this acquisition by allocating the purchase price to the assets acquired and liabilities assumed based on their estimated fair values at the date of acquisition. This purchase price allocation is preliminary and based on information currently available to us, and is subject to change when we obtain final asset and liability valuations. We have included C&C's operations in our consolidated financial statements starting from the date of closing, and its operating results are included in our Subsea Projects segment. The acquisition of C&C did not have a material effect on our operating results, cash flows or financial position. Goodwill. In our annual evaluation of goodwill for impairment, we first assess qualitative factors to determine whether the existence of events or circumstances leads to a determination that it is more likely than not that the fair value of a reporting unit is less than its carrying amount. If, after assessing the totality of events or circumstances, we determine it is more likely than not that the fair value of a reporting unit is less than its carrying amount, we are required to perform the first step of the two-step impairment test. We tested the goodwill attributable to each of our reporting units for impairment as of December 31, 2014 and concluded that there was no impairment. Foreign Currency Translation. The functional currency for several of our foreign subsidiaries is the applicable local currency. Results of operations for foreign subsidiaries with functional currencies other than the U.S. dollar are translated into U.S. dollars using average exchange rates during the period. Assets and liabilities of these foreign subsidiaries are translated into U.S. dollars using the exchange rates in effect at the balance sheet date, and the resulting translation adjustments are recognized, net of tax, in accumulated other comprehensive income as a component of shareholders' equity. All foreign currency transaction gains and losses are recognized currently in the Consolidated Statements of Income. New Accounting Standards. In May 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2014-09, " Revenue from Contracts with Customers (Topic 606)." ASU 2014-09, as amended, completes the joint effort by the FASB and International Accounting Standards Board to improve financial reporting by creating common revenue recognition guidance for U.S. GAAP and International Financial Reporting Standards. ASU 2014-09 applies to all companies that enter into contracts with customers to transfer goods or services. ASU 2014-09 is effective for us for interim and annual reporting periods beginning after December 15, 2017. Early application is not permitted and we have the choice to apply ASU 2014-09 either retrospectively to each reporting period presented or by recognizing the cumulative effect of applying ASU 2014-09 at the date of initial application (January 1, 2018) and not adjusting comparative information. We are currently evaluating the requirements of ASU 2014-09 and have not yet determined its impact on our consolidated financial statements. In April 2015, the FASB issued ASU 2015-03, " Interest-Imputation of Interest (Subtopic 835-30) Simplifying the Presentation of Debt Issuance Costs. " This update requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. ASU 2015-03 is effective for our financial statements issued for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. Early adoption is permitted, and we adopted this update in the second quarter of 2015 and reclassified prior period amounts to conform with the new presentation.

Inventory

Inventory	6 Months Ended
	Jun. 30, 2015
Inventory Disclosure [Abstract]
Inventory	INVENTORY The following is information regarding our inventory: (in thousands) Jun 30, 2015 Dec 31, 2014 Inventory: Remotely operated vehicle parts and components $ 191,178 $ 207,885 Other inventory, primarily raw materials 185,772 167,703 Total $ 376,950 $ 375,588

Debt

Debt	6 Months Ended
	Jun. 30, 2015
Debt Disclosure [Abstract]
Debt	DEBT Long-term Debt consisted of the following: (in thousands) Jun 30, 2015 Dec 31, 2014 4.650% Senior Notes due 2024: Principal of the Notes $ 500,000 $ 500,000 Issuance costs, net of amortization (6,417 ) (6,761 ) Fair value of interest rate swap on $100 million of principal (666 ) (230 ) Term Loan Facility 300,000 250,000 Revolving Credit Facility — — Long-term Debt $ 792,917 $ 743,009 In November 2014, we completed the public offering of $500 million aggregate principal amount of 4.650% Senior Notes due 2024 (the "Senior Notes"). We pay interest on the Senior Notes on May 15 and November 15 of each year, and we made our first interest payment on May 15, 2015. The Senior Notes are scheduled to mature on November 15, 2024. We may redeem some or all of the Senior Notes prior to maturity at specified redemption prices. We used the net proceeds from the offering for general corporate purposes, including funding the C&C acquisition, other capital expenditures and repurchases of shares of our common stock. In October 2014, we entered into a new credit agreement (the "Credit Agreement") with a group of banks. The Credit Agreement provides for a $300 million three-year term loan (the "Term Loan Facility") and a $500 million five-year revolving credit facility (the "Revolving Credit Facility"). The Credit Agreement replaced a prior credit agreement that was scheduled to mature on January 6, 2017 . Subject to certain conditions, the aggregate commitments under the Revolving Credit Facility may be increased by up to $300 million at any time upon agreement between us and existing or additional lenders. Borrowings under the Revolving Credit Facility and the Term Loan Facility may be used for general corporate purposes. Simultaneously with the execution of the Credit Agreement and pursuant to its terms, we repaid all amounts outstanding under, and terminated, our prior principal credit agreement. The Term Loan Facility is scheduled to mature on October 27, 2017. The Revolving Credit Facility is scheduled to mature on October 25, 2019. Borrowings under the Credit Agreement bear interest at an Adjusted Base Rate or the Eurodollar Rate (both as defined in the Credit Agreement), at our option, plus an applicable margin to be initially based on our Leverage Ratio (as defined in the Credit Agreement) and, at our election, based on the ratings of our senior unsecured debt by both Moody’s Investors Service, Inc. and Standard & Poor’s Ratings Services, thereafter to be based on such debt ratings. The applicable margin varies: (1) in the case of advances bearing interest at the Adjusted Base Rate, from 0.125% to 0.750% for borrowings under the Revolving Credit Facility and from 0% to 0.500% for borrowings under the Term Loan Facility; and (2) in the case of advances bearing interest at the Eurodollar Rate, from 1.125% to 1.750% for borrowings under the Revolving Credit Facility and from 1.000% to 1.500% for borrowings under the Term Loan Facility. The Adjusted Base Rate is the highest of (1) the per annum rate established by the administrative agent as its prime rate, (2) the federal funds rate plus 0.50% and (3) daily one-month LIBOR plus 1% . We pay a commitment fee ranging from 0.125% to 0.300% on the unused portions of the Revolving Credit Facility and the Term Loan Facility, depending on our Leverage Ratio. The commitment fees are included as interest expense in our consolidated financial statements. The Credit Agreement contains various covenants that we believe are customary for agreements of this nature, including, but not limited to, restrictions on our ability and the ability of each of our subsidiaries to incur debt, grant liens, make certain investments, make distributions, merge or consolidate, sell assets, enter into transactions with affiliates and enter into certain restrictive agreements. We are also subject to a maximum Leverage Ratio of 4.00 to 1.00. The Credit Agreement includes customary events of default and associated remedies. As of June 30, 2015 and December 31, 2014 , we were in compliance with all the covenants set forth in the Credit Agreement. We incurred $6.9 million of issuance costs related to the Senior Notes and $1.6 million of new loan costs related to the Revolving Credit Facility and the Term Loan Facility. The issuance costs related to the Revolving Credit Facility and the Term Loan Facility are included on our balance sheet as other non-current assets. The issuance costs are being amortized to interest expense over ten years for the Senior Notes and over five years for the Revolving Credit Facility and the Term Loan Facility.
Schedule of Debt [Table Text Block]	Long-term Debt consisted of the following: (in thousands) Jun 30, 2015 Dec 31, 2014 4.650% Senior Notes due 2024: Principal of the Notes $ 500,000 $ 500,000 Issuance costs, net of amortization (6,417 ) (6,761 ) Fair value of interest rate swap on $100 million of principal (666 ) (230 ) Term Loan Facility 300,000 250,000 Revolving Credit Facility — — Long-term Debt $ 792,917 $ 743,009

Commitments And Contingencies

Commitments And Contingencies	6 Months Ended
	Jun. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments And Contingencies	COMMITMENTS AND CONTINGENCIES Litigation. On June 17, 2014, a purported shareholder filed a derivative complaint against all of the then-current members of our board of directors and one of our former directors, as defendants, and our company, as nominal defendant, in the Court of Chancery of the State of Delaware. Through the complaint, the plaintiff is asserting, on behalf of our company, actions for breach of fiduciary duties and unjust enrichment in connection with prior determinations of our board of directors relating to nonexecutive director compensation. The plaintiff is seeking relief including disgorgement of payments made to the defendants, an award of unspecified damages and an award for attorneys’ fees and other costs. We and the defendants filed a motion to dismiss the complaint and a supporting brief on September 5, 2014, asserting that the complaint failed to state a claim on which relief could be granted, and further that the plaintiff did not comply with procedural requirements necessary to allow him to commence litigation against certain directors on our behalf. As of the date of this report, that motion remains pending before the Court. In any event, our company is only a nominal defendant in this litigation, and we do not expect the resolution of this matter to have a material adverse effect on our results of operations, cash flows or financial position. Various other actions and claims are pending against us, most of which are covered by insurance. Although we cannot predict the ultimate outcome of these matters, we believe the ultimate liability, if any, that may result from these other actions and claims will not materially affect our results of operations, cash flows or financial position. Financial Instruments and Risk Concentration. In the normal course of business, we manage risks associated with foreign exchange rates and interest rates through a variety of strategies, including the use of hedging transactions. As a matter of policy, we do not use derivative instruments unless we have an underlying exposure. Other financial instruments that potentially subject us to concentrations of credit risk are principally cash and cash equivalents and accounts receivable. The carrying values of cash and cash equivalents approximate their fair values due to the short-term maturity of those instruments. Accounts receivable are generated from a broad group of customers, primarily from within the energy industry, which is our major source of revenue. Due to their short-term nature, carrying values of our accounts receivable and accounts payable approximate fair market values. We had borrowings of $300 million at June 30, 2015 under our term loan facility. Due to the short-term nature of the associated interest rate periods, the carrying value of our debt under the term loan facility approximates its fair value. This debt is classified as Level 2 in the fair value hierarchy under U.S. GAAP (inputs other than quoted prices in active markets for similar assets and liabilities that are observable or can be corroborated by observable market data for substantially the full term for the assets or liabilities). We estimated the fair market value of the Senior Notes to be $495 million at June 30, 2015 . We arrived at this estimate by computing the net present value of the future principal and interest payments using a yield to maturity interest rate for securities of similar credit quality and term. The Senior Notes are classified as Level 2 in the fair value hierarchy under U.S. GAAP. We have an interest rate swap in place on $100 million of the Senior Notes for the period from November 2014 to November 2024. The agreement swaps the fixed interest rate of 4.650% on $100 million of the Senior Notes to the floating rate of one month LIBOR plus 2.426%. We estimate the fair value of the interest rate swap to be a liability of $0.7 million at June 30, 2015 , which is reflected on our balance sheet as a component of Other Long-term Liabilities, with the offset as an adjustment to the carrying value of Long-term Debt. This liability value was arrived at using a discounted cash flow model using Level 2 inputs. In the second quarter of 2015, the exchange rate for the Angolan kwanza relative to the U.S. dollar declined approximately 14%. This caused us to record a foreign currency loss of $8.9 million related to the kwanza, and that amount is included as a component of Other expense, net in our Consolidated Statements of Income for the three- and six-month periods ended June 30, 2015. The adjustment related primarily to our cash balances in Angola. Conversion of cash balances from kwanza to U.S. dollars is controlled by the central bank in Angola, and the central bank has slowed this process during 2015, causing our cash balances in kwanza to increase. As of June 30, 2015, we had the equivalent of approximately $53 million of cash in kwanza in Angola on our balance sheet.

Earnings Per Share, Stock-Based

Earnings Per Share, Stock-Based Compensation and Share Repurchase Plan	6 Months Ended
	Jun. 30, 2015
Shareholders' Equity, Earnings Per Share And Stock-Based Compensation [Abstract]
Shareholders' Equity, Earnings Per Share And Stock-Based Compensation	Earnings per Share. The table that follows presents our computation of weighted average basic and diluted shares outstanding, which we use in our earnings per share calculations. For each period presented, our net income allocable to both common shareholders and diluted common shareholders is the same as our net income in our consolidated statements of income. Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2015 2014 2015 2014 Basic shares outstanding 98,528 108,002 98,998 108,086 Effect of restricted stock units 365 419 403 485 Diluted shares outstanding 98,893 108,421 99,401 108,571 We have been paying a quarterly cash dividend of $0.27 per share to our common shareholders since the second quarter of 2014. Our latest $0.27 per share quarterly dividend was declared in July 2015 and is payable in September 2015. Share-Based Compensation. We have no outstanding stock options and no future share-based compensation to be recognized pursuant to stock option grants. Through 2014, we granted restricted units of our common stock to certain of our key executives, key employees and Chairman of the Board. We also granted shares of restricted stock to our other non-employee directors. The restricted units granted to our key executives and key employees generally vest in full on the third anniversary of the award date, conditional on continued employment. The restricted stock unit grants, including those granted to our Chairman, can vest pro rata over three years, provided the individual meets certain age and years-of-service requirements. The shares of restricted common stock we grant to our other non-employee directors vest in full on the first anniversary of the award date, conditional upon continued service as a director. Each grantee of shares of restricted stock is deemed to be the record owner of those shares during the restriction period, with the right to vote and receive any dividends on those shares. The restricted stock units outstanding have no voting or dividend rights. In 2015, we made corresponding grants to those described above, except we granted restricted shares, rather than restricted stock units, to our Chairman. For each of the restricted stock units granted in 2013 through 2015 , at the earlier of three years after grant or at termination of employment or service, the grantee will be issued a share of our common stock for each unit vested. As of June 30, 2015 and December 31, 2014 , respective totals of 849,008 and 814,400 shares of restricted stock or restricted stock units were outstanding. We estimate that stock-based compensation cost not yet recognized related to shares of restricted stock or restricted stock units, based on their grant-date fair values, was $24 million at June 30, 2015 . This expense is being recognized on a staged-vesting basis over three years for awards attributable to individuals meeting certain age and years-of-service requirements, and on a straight-line basis over the applicable vesting period of one or three years for the other awards. Share Repurchase Plan. In December 2014, our Board of Directors approved a plan to repurchase up to 10 million shares of our common stock. Under this plan, we had repurchased 2.0 million shares of our common stock for $100 million through June 30, 2015 . We account for the shares we hold in treasury under the cost method, at average cost.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2015
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES During interim periods, we provide for income taxes based on our current estimated annual effective tax rate using assumptions as to (1) earnings and other factors that would affect the tax provision for the remainder of the year and (2) the operations of foreign branches and subsidiaries that are subject to local income and withholding taxes. We conduct business through several foreign subsidiaries and, although we expect our consolidated operations to be profitable, there is no assurance that profits will be earned in entities or jurisdictions that have net operating loss carryforwards available. The primary difference between (1) our effective tax rates of 31.3% in the periods ended June 30, 2015 (2) the federal statutory rate of 35% reflects our intention to indefinitely reinvest in certain of our international operations. As a result, we do not provide for U.S. taxes on that portion of our foreign earnings. We conduct our international operations in a number of locations that have varying laws and regulations with regard to income and other taxes, some of which are subject to interpretation. We recognize the benefit for a tax position if the benefit is more likely than not to be sustainable upon audit by the applicable taxing authority. If this threshold is met, the tax benefit is then measured and recognized at the largest amount that we believe is greater than 50% likely of being realized upon ultimate settlement. We do not believe that the total of unrecognized tax benefits will significantly increase or decrease in the next 12 months. We account for any applicable interest and penalties on uncertain tax positions as a component of our provision for income taxes on our financial statements. Including associated foreign tax credits and penalties and interest, we have accrued a net total of $4.6 million in the caption "other long-term liabilities" on our balance sheet for unrecognized tax benefits at June 30, 2015 . All additions or reductions to those liabilities would affect our effective income tax rate in the periods of change. Our tax returns are subject to audit by taxing authorities in multiple jurisdictions. These audits often take years to complete and settle. The following lists the earliest tax years open to examination by tax authorities where we have significant operations: Jurisdiction Periods United States 2011 United Kingdom 2011 Norway 2006 Angola 2010 Brazil 2010 Australia 2011

Business Segment Information

Business Segment Information	6 Months Ended
	Jun. 30, 2015
Segment Reporting, Measurement Disclosures [Abstract]
Business Segment Information	BUSINESS SEGMENT INFORMATION We are a global oilfield provider of engineered services and products, primarily to the offshore oil and gas industry, with a focus on deepwater applications. Through the use of our applied technology expertise, we also serve the defense, aerospace and commercial theme park industries. Our Oilfield business consists of Remotely Operated Vehicles ("ROVs"), Subsea Products, Subsea Projects and Asset Integrity. Our ROV segment provides submersible vehicles operated from the surface to support offshore oil and gas exploration, development and production activities. Our Subsea Products segment supplies a variety of specialty subsea hardware and related services. Our Subsea Projects segment provides multiservice subsea support vessels and oilfield diving and support vessel operations, primarily for inspection, maintenance and repair and installation activities. Since April 2015, we have also provided survey, autonomous underwater vehicle ("AUV") and satellite-positioning services. Our Asset Integrity segment provides asset integrity management and assessment services and nondestructive testing and inspection. Our Advanced Technologies business provides project management, engineering services and equipment for applications in non-oilfield markets. Unallocated Expenses are those not associated with a specific business segment. These consist of expenses related to our incentive and deferred compensation plans, including restricted stock and bonuses, as well as other general expenses, including corporate administrative expenses. There are no differences in the basis of segmentation or in the basis of measurement of segment profit or loss from those used in our consolidated financial statements for the year ended December 31, 2014 . The table that follows presents Revenue and Income from Operations by business segment for each of the periods indicated. Three Months Ended Six Months Ended (in thousands) Jun 30, 2015 Jun 30, 2014 Mar 31, 2015 Jun 30, 2015 Jun 30, 2014 Revenue Oilfield Remotely Operated Vehicles $ 216,426 $ 268,274 $ 219,447 $ 435,873 $ 524,093 Subsea Products 240,057 327,252 240,729 480,786 587,262 Subsea Projects 172,324 136,199 153,572 325,896 274,389 Asset Integrity 95,509 130,229 98,493 194,002 254,388 Total Oilfield 724,316 861,954 712,241 1,436,557 1,640,132 Advanced Technologies 85,987 65,453 74,531 160,518 127,476 Total $ 810,303 $ 927,407 $ 786,772 $ 1,597,075 $ 1,767,608 Income from Operations Oilfield Remotely Operated Vehicles $ 61,294 $ 75,825 $ 62,182 $ 123,476 $ 152,565 Subsea Products 42,286 79,497 50,014 92,300 134,013 Subsea Projects 30,607 25,863 22,276 52,883 46,400 Asset Integrity 4,576 15,915 5,025 9,601 30,000 Total Oilfield 138,763 197,100 139,497 278,260 362,978 Advanced Technologies 6,267 198 5,020 11,287 3,153 Unallocated Expenses (37,090 ) (35,987 ) (37,867 ) (74,957 ) (71,958 ) Total $ 107,940 $ 161,311 $ 106,650 $ 214,590 $ 294,173 We determine income from operations for each business segment before interest income or expense, other income (expense) and provision for income taxes. We do not consider an allocation of these items to be practical. Our equity earnings of unconsolidated affiliates is part of our Subsea Projects segment.

Summary Of Major Accounting P14

Summary Of Major Accounting Policies (Policy)	6 Months Ended
	Jun. 30, 2015
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation . We have prepared these unaudited consolidated financial statements pursuant to instructions for quarterly reports on Form 10-Q, which we are required to file with the U.S. Securities and Exchange Commission. These financial statements do not include all information and footnotes normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States ("U.S. GAAP"). These financial statements reflect all adjustments that we believe are necessary to present fairly our financial position at June 30, 2015 and our results of operations and cash flows for the periods presented. Except as otherwise disclosed herein, all such adjustments are of a normal and recurring nature. These financial statements should be read in conjunction with the consolidated financial statements and related notes included in our annual report on Form 10-K for the year ended December 31, 2014 . The results for interim periods are not necessarily indicative of annual results.
Principles of Consolidation	Principles of Consolidation. The consolidated financial statements include the accounts of Oceaneering International, Inc. and our 50% or more owned and controlled subsidiaries. We also consolidate entities that are determined to be variable interest entities if we determine that we are the primary beneficiary; otherwise, we account for those entities using the equity method of accounting. We use the equity method to account for our investments in unconsolidated affiliated companies of which we own an equity interest of between 20% and 50% and as to which we have significant influence, but not control, over operations. All significant intercompany accounts and transactions have been eliminated.
Use Of Estimates	Use of Estimates. The preparation of financial statements in conformity with U.S. GAAP requires that our management make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expense during the reporting period. Actual results could differ from those estimates.
Reclassification	Reclassifications. Certain amounts from prior periods have been reclassified to conform with the current period presentation.
Cash and Cash Equivalents	Cash and Cash Equivalents. Cash and cash equivalents include demand deposits and highly liquid investments with original maturities of three months or less from the date of investment.
Accounts Receivable	Accounts Receivable – Allowances for Doubtful Accounts. We determine the need for allowances for doubtful accounts using the specific identification method. We do not generally require collateral from our customers.
Inventory	Inventory . Inventory is valued at lower of cost or market. We determine cost using the weighted-average method. During the three- and six-month periods ended June 30, 2015, we recorded an inventory write-down of $9.0 million upon our decision to cease manufacturing subsea BOP control systems.
Property and Equipment	Property and Equipment and Long-Lived Intangible Assets. We provide for depreciation of property and equipment on the straight-line method over their estimated useful lives. We charge the costs of repair and maintenance of property and equipment to operations as incurred, while we capitalize the costs of improvements that extend asset lives or functionality. Upon the disposition of property and equipment, the related cost and accumulated depreciation accounts are relieved and any resulting gain or loss is included as an adjustment to cost of services and products. Intangible assets, primarily acquired in connection with business combinations, include trade names, intellectual property and customer relationships and are being amortized over their estimated useful lives. We capitalize interest on assets where the construction period is anticipated to be more than three months. We capitalized $0.5 million and $0.1 million of interest in the three-month periods ended June 30, 2015 and 2014 , respectively, and $1.1 million and $0.2 million of interest in the six-month periods ended June 30, 2015 and 2014 , respectively. We do not allocate general administrative costs to capital projects. Our management periodically, and upon the occurrence of a triggering event, reviews the realizability of our property and equipment and long-lived intangible assets, which are held and used by us, to determine whether any events or changes in circumstances indicate that the carrying amount of the asset may not be recoverable. For long-lived assets to be held and used, we base our evaluation on impairment indicators such as the nature of the assets, the future economic benefit of the assets, any historical or future profitability measurements and other external market conditions or factors that may be present. If such impairment indicators are present or other factors exist that indicate that the carrying amount of the asset may not be recoverable, we determine whether an impairment has occurred through the use of an undiscounted cash flows analysis of the asset at the lowest level for which identifiable cash flows exist. If an impairment has occurred, we recognize a loss for the difference between the carrying amount and the fair value of the asset. For assets held for sale or disposal, the fair value of the asset is measured using fair market value less cost to sell. Assets are classified as held-for-sale when we have a plan for disposal of certain assets and those assets meet the held for sale criteria.
Business Acquisitions	Business Acquisitions . We account for business combinations using the acquisition method of accounting, and we allocate the acquisition price to the assets acquired and liabilities assumed based on their fair market values at the date of acquisition. In April 2015, we completed the acquisition of C & C Technologies, Inc. ("C&C"). C&C is a global provider of ocean-bottom mapping services in deepwater utilizing customized autonomous underwater vehicles and provides marine construction surveys for both surface and subsea assets, as well as satellite-based positioning services for drilling rigs and seismic and construction vessels. C&C also provides land and near-shore survey services along the U.S. Gulf Coast and in Mexico, and performs shallow water conventional geophysical surveys in the U.S. Gulf of Mexico. Subject to customary post-closing working capital adjustments, the acquisition price of approximately $230 million was paid in cash. We have accounted for this acquisition by allocating the purchase price to the assets acquired and liabilities assumed based on their estimated fair values at the date of acquisition. This purchase price allocation is preliminary and based on information currently available to us, and is subject to change when we obtain final asset and liability valuations. We have included C&C's operations in our consolidated financial statements starting from the date of closing, and its operating results are included in our Subsea Projects segment. The acquisition of C&C did not have a material effect on our operating results, cash flows or financial position.
Goodwill and Intangible Assets	Goodwill. In our annual evaluation of goodwill for impairment, we first assess qualitative factors to determine whether the existence of events or circumstances leads to a determination that it is more likely than not that the fair value of a reporting unit is less than its carrying amount. If, after assessing the totality of events or circumstances, we determine it is more likely than not that the fair value of a reporting unit is less than its carrying amount, we are required to perform the first step of the two-step impairment test. We tested the goodwill attributable to each of our reporting units for impairment as of December 31, 2014 and concluded that there was no impairment.
Foreign Currency Transactions and Translations Policy [Policy Text Block]	Foreign Currency Translation. The functional currency for several of our foreign subsidiaries is the applicable local currency. Results of operations for foreign subsidiaries with functional currencies other than the U.S. dollar are translated into U.S. dollars using average exchange rates during the period. Assets and liabilities of these foreign subsidiaries are translated into U.S. dollars using the exchange rates in effect at the balance sheet date, and the resulting translation adjustments are recognized, net of tax, in accumulated other comprehensive income as a component of shareholders' equity. All foreign currency transaction gains and losses are recognized currently in the Consolidated Statements of Income.
New Accounting Pronouncements, Policy [Policy Text Block]	New Accounting Standards. In May 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2014-09, " Revenue from Contracts with Customers (Topic 606)." ASU 2014-09, as amended, completes the joint effort by the FASB and International Accounting Standards Board to improve financial reporting by creating common revenue recognition guidance for U.S. GAAP and International Financial Reporting Standards. ASU 2014-09 applies to all companies that enter into contracts with customers to transfer goods or services. ASU 2014-09 is effective for us for interim and annual reporting periods beginning after December 15, 2017. Early application is not permitted and we have the choice to apply ASU 2014-09 either retrospectively to each reporting period presented or by recognizing the cumulative effect of applying ASU 2014-09 at the date of initial application (January 1, 2018) and not adjusting comparative information. We are currently evaluating the requirements of ASU 2014-09 and have not yet determined its impact on our consolidated financial statements. In April 2015, the FASB issued ASU 2015-03, " Interest-Imputation of Interest (Subtopic 835-30) Simplifying the Presentation of Debt Issuance Costs. " This update requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. ASU 2015-03 is effective for our financial statements issued for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. Early adoption is permitted, and we adopted this update in the second quarter of 2015 and reclassified prior period amounts to conform with the new presentation.

Inventory (Tables)

Inventory (Tables)	6 Months Ended
	Jun. 30, 2015
Inventory Disclosure [Abstract]
Inventory [Table Text Block]	(in thousands) Jun 30, 2015 Dec 31, 2014 Inventory: Remotely operated vehicle parts and components $ 191,178 $ 207,885 Other inventory, primarily raw materials 185,772 167,703 Total $ 376,950 $ 375,588

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2015
Debt Instrument [Line Items]
Schedule of Debt [Table Text Block]	Long-term Debt consisted of the following: (in thousands) Jun 30, 2015 Dec 31, 2014 4.650% Senior Notes due 2024: Principal of the Notes $ 500,000 $ 500,000 Issuance costs, net of amortization (6,417 ) (6,761 ) Fair value of interest rate swap on $100 million of principal (666 ) (230 ) Term Loan Facility 300,000 250,000 Revolving Credit Facility — — Long-term Debt $ 792,917 $ 743,009

Earnings Per Share, Stock-Bas17

Earnings Per Share, Stock-Based Compensation and Share Repurchase Plan (Tables)	6 Months Ended
	Jun. 30, 2015
Shareholders' Equity, Earnings Per Share And Stock-Based Compensation [Abstract]
Schedule of Earnings Per Share	Earnings per Share. The table that follows presents our computation of weighted average basic and diluted shares outstanding, which we use in our earnings per share calculations. For each period presented, our net income allocable to both common shareholders and diluted common shareholders is the same as our net income in our consolidated statements of income. Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2015 2014 2015 2014 Basic shares outstanding 98,528 108,002 98,998 108,086 Effect of restricted stock units 365 419 403 485 Diluted shares outstanding 98,893 108,421 99,401 108,571

Income Taxes (Tables)

Income Taxes (Tables)	6 Months Ended
	Jun. 30, 2015
Income Tax Disclosure [Abstract]
Summary of Income Tax Examinations	The following lists the earliest tax years open to examination by tax authorities where we have significant operations: Jurisdiction Periods United States 2011 United Kingdom 2011 Norway 2006 Angola 2010 Brazil 2010 Australia 2011

Business Segment Information (T

Business Segment Information (Tables)	6 Months Ended
	Jun. 30, 2015
Segment Reporting, Measurement Disclosures [Abstract]
Financial Data By Business Segment	The table that follows presents Revenue and Income from Operations by business segment for each of the periods indicated. Three Months Ended Six Months Ended (in thousands) Jun 30, 2015 Jun 30, 2014 Mar 31, 2015 Jun 30, 2015 Jun 30, 2014 Revenue Oilfield Remotely Operated Vehicles $ 216,426 $ 268,274 $ 219,447 $ 435,873 $ 524,093 Subsea Products 240,057 327,252 240,729 480,786 587,262 Subsea Projects 172,324 136,199 153,572 325,896 274,389 Asset Integrity 95,509 130,229 98,493 194,002 254,388 Total Oilfield 724,316 861,954 712,241 1,436,557 1,640,132 Advanced Technologies 85,987 65,453 74,531 160,518 127,476 Total $ 810,303 $ 927,407 $ 786,772 $ 1,597,075 $ 1,767,608 Income from Operations Oilfield Remotely Operated Vehicles $ 61,294 $ 75,825 $ 62,182 $ 123,476 $ 152,565 Subsea Products 42,286 79,497 50,014 92,300 134,013 Subsea Projects 30,607 25,863 22,276 52,883 46,400 Asset Integrity 4,576 15,915 5,025 9,601 30,000 Total Oilfield 138,763 197,100 139,497 278,260 362,978 Advanced Technologies 6,267 198 5,020 11,287 3,153 Unallocated Expenses (37,090 ) (35,987 ) (37,867 ) (74,957 ) (71,958 ) Total $ 107,940 $ 161,311 $ 106,650 $ 214,590 $ 294,173

Summary Of Major Accounting P20

Summary Of Major Accounting Policies - Principles of Consolidation And Repurchases (Details)	Jun. 30, 2015
Minimum [Member]
Schedule of Equity Method Investments [Line Items]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Percentage	50.00%
Equity Method Investment, Ownership Interest Threshold For Consolidation, Percentage	20.00%
Maximum [Member]
Schedule of Equity Method Investments [Line Items]
Equity Method Investment, Ownership Interest Threshold For Consolidation, Percentage	50.00%

Summary Of Major Accounting P21

Summary Of Major Accounting Policies - Property, Plant and Equipment (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Accounting Policies [Abstract]
Interest Costs, Capitalized During Period	$ 538	$ 101	$ 1,093	$ 162

Summary Of Major Accounting P22

Summary Of Major Accounting Policies Business Combination Disclosure (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Business Acquisition [Line Items]
Subsea BOP control systems inventory write-down	$ 9,025	$ 0

Inventory (Details)

Inventory (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Inventory Disclosure [Abstract]
Inventory for remotely operated vehicles	$ 191,178	$ 207,885
Other inventory, primarily raw materials	185,772	167,703
Total	$ 376,950	$ 375,588

Debt - Long-Term Debt (Details)

Debt - Long-Term Debt (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2014	Jun. 30, 2015	Nov. 21, 2014
Debt Disclosure [Abstract]
Payments of Debt Issuance Costs	$ 6,900
Notes Payable, Fair Value Disclosure		$ 495,000
4.650% Senior Notes due 2024	500,000	500,000	$ 500,000
Unamortized Debt Issuance Expense	(6,761)	(6,417)
Interest Rate Derivative Liabilities, at Fair Value	(230)	(666)
Loans Payable to Bank	250,000	300,000
Revolving credit facility	0	0
Long-term Debt	$ 743,009	$ 792,917

Debt - Line of Credit (Details)

Debt - Line of Credit (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2014	Jun. 30, 2015	Oct. 27, 2014
Line of Credit Facility [Line Items]
Line of Credit Facility, Available Additional Borrowing Capacity		$ 300
Payments of Financing Costs	$ 1.6
Line of Credit [Member]
Line of Credit Facility [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity			$ 500
Credit Agreement [Member]
Line of Credit Facility [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity			$ 300
Credit Agreement [Member] | Adjusted Base Rate Advances [Member] | Adjusted Base Rate [Member] | Federal Funds Rate [Member] | Minimum [Member]
Line of Credit Facility [Line Items]
Line of Credit Facility, Basis Spread on Variable Rate			0.50%
Credit Agreement [Member] | Adjusted Base Rate Advances [Member] | Adjusted Base Rate [Member] | Eurodollar Rate [Member] | Minimum [Member]
Line of Credit Facility [Line Items]
Line of Credit Facility, Basis Spread on Variable Rate			1.00%
Credit Agreement [Member] | Adjusted Base Rate Advances [Member] | Applicable Margin [Member] | Minimum [Member]
Line of Credit Facility [Line Items]
Line of Credit Facility, Basis Spread on Variable Rate			0.125%
oii term loan facility spread on variable rate			0.00%
Credit Agreement [Member] | Adjusted Base Rate Advances [Member] | Applicable Margin [Member] | Maximum [Member]
Line of Credit Facility [Line Items]
Line of Credit Facility, Basis Spread on Variable Rate			0.75%
oii term loan facility spread on variable rate			0.50%
Credit Agreement [Member] | Eurodollar Advances [Member] | Applicable Margin [Member] | Minimum [Member]
Line of Credit Facility [Line Items]
Line of Credit Facility, Basis Spread on Variable Rate			1.125%
oii term loan facility spread on variable rate			1.00%
Credit Agreement [Member] | Eurodollar Advances [Member] | Applicable Margin [Member] | Maximum [Member]
Line of Credit Facility [Line Items]
Line of Credit Facility, Basis Spread on Variable Rate			1.75%
oii term loan facility spread on variable rate			1.50%

Commitments And Contingencies -

Commitments And Contingencies - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Loss Contingencies [Line Items]
Derivative, Amount of Hedged Item	$ 100,000		$ 100,000
Loans Payable to Bank	300,000		300,000		$ 250,000
Cash Flow Hedge Derivative Instrument Assets at Fair Value	700		700
Line of Credit Facility, Amount Outstanding	0		0		$ 0
Other income (expense), net	(6,484)	$ (417)	$ (5,784)	$ (123)
Other Income [Member]
Loss Contingencies [Line Items]
Other income (expense), net	$ 8,900

Earnings Per Share, Stock-Bas27

Earnings Per Share, Stock-Based Compensation and Share Repurchase Plan (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended	6 Months Ended
	Sep. 30, 2015	Jun. 30, 2015	Dec. 31, 2014	Dec. 12, 2014
Shareholders' Equity, Earnings Per Share And Stock-Based Compensation [Line Items]
Common Stock, Dividends, Per Share, Declared	$ 0.27
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number		849,008	814,400
Stock Repurchase Program, Number of Shares Authorized to be Repurchased				10,000,000
Stock Repurchase Program, Total Number of Shares Repurchased To Date		2,000,000
Stock Repurchase Program, Total Shares Repurchased To Date, Amount		$ 100
Restricted Stock Units (RSUs) [Member]
Shareholders' Equity, Earnings Per Share And Stock-Based Compensation [Line Items]
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized, Share-based Awards Other than Options		$ 24
Restricted Stock Units (RSUs) [Member] | Minimum [Member]
Shareholders' Equity, Earnings Per Share And Stock-Based Compensation [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period		1 year
Restricted Stock Units (RSUs) [Member] | Maximum [Member]
Shareholders' Equity, Earnings Per Share And Stock-Based Compensation [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period		3 years

Earnings Per Share, Stock-Bas28

Earnings Per Share, Stock-Based Compensation and Share Repurchase Plan (Earnings Per Share) (Details) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Shareholders' Equity, Earnings Per Share And Stock-Based Compensation [Abstract]
Basic shares outstanding	98,528	108,002	98,998	108,086
Effect of restricted stock units	365	419	403	485
Diluted shares outstanding	98,893	108,421	99,401	108,571

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - Jun. 30, 2015 - USD ($) $ in Millions	Total
Operating Loss Carryforwards [Line Items]
Effective income tax rate continuing operations	31.30%
Federal statutory tax rate	35.00%
Unrecognized Tax Benefits, Probability Threshold of Realizing for Tax Benefits Recognition, Minimum Percentage	50.00%
Unrecognized Tax Benefits, Including Foreign Tax Credits and Penalties and Interest	$ 4.6

Income Taxes - Summary Of Earli

Income Taxes - Summary Of Earliest Tax Years Open To Examination (Details)	6 Months Ended
	Jun. 30, 2015
United States [Member]
Income Tax Examination [Line Items]
Earliest tax years open to examination by tax authorities	2,011
United Kingdom [Member]
Income Tax Examination [Line Items]
Earliest tax years open to examination by tax authorities	2,011
Norway [Member]
Income Tax Examination [Line Items]
Earliest tax years open to examination by tax authorities	2,006
Angola [Member]
Income Tax Examination [Line Items]
Earliest tax years open to examination by tax authorities	2,010
Brazil [Member]
Income Tax Examination [Line Items]
Earliest tax years open to examination by tax authorities	2,010
Australia [Member]
Income Tax Examination [Line Items]
Earliest tax years open to examination by tax authorities	2,011

Business Segment Information -

Business Segment Information - Financial Data By Business Segment (Details) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended
	Jun. 30, 2015	Mar. 31, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Segment Reporting Information [Line Items]
Revenue	$ 810,303	$ 786,772	$ 927,407	$ 1,597,075	$ 1,767,608
Income from Operations	107,940	106,650	161,311	214,590	294,173
Oil And Gas [Member]
Segment Reporting Information [Line Items]
Revenue	724,316	712,241	861,954	1,436,557	1,640,132
Income from Operations	138,763	139,497	197,100	278,260	362,978
ROVs [Member]
Segment Reporting Information [Line Items]
Revenue	216,426	219,447	268,274	435,873	524,093
Income from Operations	61,294	62,182	75,825	123,476	152,565
Subsea Products [Member]
Segment Reporting Information [Line Items]
Revenue	240,057	240,729	327,252	480,786	587,262
Income from Operations	42,286	50,014	79,497	92,300	134,013
Subsea Projects [Member]
Segment Reporting Information [Line Items]
Revenue	172,324	153,572	136,199	325,896	274,389
Income from Operations	30,607	22,276	25,863	52,883	46,400
Asset Integrity [Member]
Segment Reporting Information [Line Items]
Revenue	95,509	98,493	130,229	194,002	254,388
Income from Operations	4,576	5,025	15,915	9,601	30,000
Advanced Technologies [Member]
Segment Reporting Information [Line Items]
Revenue	85,987	74,531	65,453	160,518	127,476
Income from Operations	6,267	5,020	198	11,287	3,153
Unallocated Expenses [Member]
Segment Reporting Information [Line Items]
Income from Operations	$ (37,090)	$ (37,867)	$ (35,987)	$ (74,957)	$ (71,958)