Oceaneering International (OII) 10-Q 4 Nov 15 2015 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information Document - shares	9 Months Ended
	Sep. 30, 2015	Oct. 30, 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	Sep. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Common Stock, Shares Outstanding		97,844,976

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Interest Rate Fair Value Hedge Asset at Fair Value	$ 3,740
Current Assets:
Cash and cash equivalents	271,155	$ 430,714
Accounts receivable, net of allowances for doubtful accounts	702,793	778,372
Inventory	373,234	375,588
Other current assets	163,248	128,876
Total Current Assets	1,510,430	1,713,550
Property and Equipment, at cost	2,748,734	2,660,788
Less accumulated depreciation	1,476,100	1,354,966
Net Property and Equipment	1,272,634	1,305,822
Other Assets:
Goodwill	421,603	331,474
Other non-current assets	215,963	154,094
Total Other Assets	637,566	485,568
Total Assets	3,420,630	3,504,940
Current Liabilities:
Accounts payable	92,937	123,688
Accrued liabilities	482,294	490,260
Income taxes payable	48,596	65,189
Total Current Liabilities	623,827	679,137
Long-term Debt	797,495	743,469
Other Long-term Liabilities	$ 410,392	$ 424,863
Commitments and Contingencies
Stockholders' Equity:
Common Stock	$ 27,709	$ 27,709
Additional paid-in capital	224,621	229,640
Treasury stock, at cost	(743,823)	(656,917)
Retained earnings	2,363,699	2,240,229
Accumulated other comprehensive income	(283,290)	(183,190)
Total Shareholders' Equity	1,588,916	1,657,471
Total Liabilities and Sharesholders' Equity	$ 3,420,630	$ 3,504,940

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Accounts receivable, allowances for doubtful accounts	$ 1,043	$ 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	12,989,112	11,220,682

Consolidated Statements Of Inco

Consolidated Statements Of Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Revenue	$ 743,613	$ 973,089	$ 2,340,688	$ 2,740,697
Cost of services and products	575,300	731,234	1,841,381	2,091,136
Gross Margin	168,313	241,855	499,307	649,561
Selling, general and administrative expense	54,849	59,937	171,253	173,470
Income from Operations	113,464	181,918	328,054	476,091
Interest income	229	130	436	250
Interest expense	(6,396)	(677)	(18,696)	(1,486)
Equity earnings (losses) of unconsolidated affiliates	1,567	9	1,313	(19)
Other income (expense), net	(9,099)	(392)	(14,883)	(515)
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest	99,765	180,988	296,224	474,321
Provision for income taxes	31,226	56,650	92,718	148,463
Net Income	$ 68,539	$ 124,338	$ 203,506	$ 325,858
Cash Dividends declared per Share	$ 0.27	$ 0.27	$ 0.81	$ 0.76
Basic Earnings per Share	0.70	1.16	2.06	3.03
Diluted Earnings per Share	$ 0.70	$ 1.16	$ 2.06	$ 3.01

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Net Income	$ 68,539	$ 124,338	$ 203,506	$ 325,858
Other comprehensive income, net of tax:
Foreign currency translation adjustments	(55,453)	(52,742)	(100,100)	(43,284)
Total other comprehensive income	(55,453)	(52,742)	(100,100)	(43,284)
Total Comprehensive Income	$ 13,086	$ 71,596	$ 103,406	$ 282,574

Consolidated Statements Of Cash

Consolidated Statements Of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Cash Flows from Operating Activities:
Net Income	$ 203,506	$ 325,858
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	183,508	169,029
Deferred income tax provision	15,780	45,992
Subsea BOP control systems inventory write-down	9,025	0
Net loss (gain) on sales of property and equipment	111	(1,241)
Noncash compensation	12,688	15,897
Excluding the effects of acquisitions, increase (decrease) in cash from:
Accounts receivable	98,357	(152,492)
Inventory	5,135	7,536
Other operating assets	(49,140)	2,308
Currency translation effect on working capital	(19,366)	(12,808)
Current liabilities	(80,086)	(12,893)
Other operating liabilities	(6,458)	(1,700)
Total adjustments to net income	169,554	59,628
Net Cash Provided by Operating Activities	373,060	385,486
Cash Flows from Investing Activities:
Purchases of property and equipment	(139,208)	(301,488)
Payments to Acquire Businesses, Net of Cash Acquired	(229,979)	(39,788)
Payments to Acquire Other Investments	(19,531)	0
Distributions of capital from unconsolidated affiliates	3,265	3,534
Dispositions of property and equipment	376	2,118
Net Cash Used in Investing Activities	(385,077)	(335,624)
Cash Flows from Financing Activities:
Proceeds from (Repayments of) Lines of Credit	0	250,000
Proceeds from Notes Payable	50,000	0
Excess tax benefits from employee benefit plans	(781)	3,083
Cash Dividends	(80,036)	(81,759)
Purchases of treasury stock	(100,459)	(236,684)
Net Cash Provided by (Used in) Financing Activities	(131,276)	(65,360)
Effect of Exchange Rate on Cash and Cash Equivalents	(16,266)	(1,340)
Net Increase (Decrease) in Cash and Cash Equivalents	(159,559)	(16,838)
Cash and Cash Equivalents-Beginning of Period	430,714	91,430
Cash and Cash Equivalents-End of Period	$ 271,155	$ 74,592

Summary Of Major Accounting Pol

Summary Of Major Accounting Policies	9 Months Ended
	Sep. 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 (the "SEC"). 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 September 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. We use the cost method for all other long-term investments. Investments in entities that we do not consolidate are reflected on our balance sheet in Other non-current assets. 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 second quarter of 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 $0.6 million and $0.1 million of interest in the three-month periods ended September 30, 2015 and 2014 , respectively, and $1.7 million and $0.3 million of interest in the nine-month periods ended September 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. 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 from operations 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 ." 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 before periods beginning after December 15, 2016, 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 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 - 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. In August 2015, the FASB issued ASU 2015-15, "Interest - Imputation of Interest - Presentation and Subsequent Measurement of Debt Issuance Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements." This update clarifies that the SEC staff would not object to an entity deferring and presenting debt issuance costs as an asset and subsequently amortizing the deferred debt issuance costs ratably over the term of the line of credit arrangement, such as the revolving credit facility we have under our bank credit agreement, regardless of whether there are any outstanding borrowings on the line of credit arrangement. In July 2015, the FASB issued ASU 2015-11, "Inventory - Simplifying the Measurement of Inventory." ASU 2015-11 requires companies to measure inventory at the lower of cost or net realizable value rather than at the lower of cost or market. Net realizable value is the estimated selling price in the ordinary course of business, less reasonably predictable costs of completion, disposal and transportation. This guidance is effective for our inventories beginning January 1, 2017. We do not anticipate that this update will have a material impact on our consolidated financial statements. In September 2015, the FASB issued ASU 2015-16, "Business Combinations - Simplifying the Accounting for Measurement-Period Adjustments." This update requires that an acquirer recognize adjustments to provisional amounts that are identified during the measurement period in the reporting period in which the adjustment amounts are determined. The update requires that the acquirer record, in the same period’s financial statements, the effect on earnings of changes in depreciation, amortization, or other income effects, if any, as a result of the change to the provisional amounts, calculated as if the accounting had been completed at the acquisition date. The update requires an entity to present separately on the face of the income statement or disclose in the notes the portion of the amount recorded in current-period earnings by line item that would have been recorded in previous reporting periods if the adjustment to the provisional amounts had been recognized as of the acquisition date. ASU 2015-16 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. We do not anticipate that this update will have a material impact on our consolidated financial statements.

Inventory

Inventory	9 Months Ended
	Sep. 30, 2015
Inventory Disclosure [Abstract]
Inventory	INVENTORY The following is information regarding our inventory: (in thousands) Sep 30, 2015 Dec 31, 2014 Inventory: Remotely operated vehicle parts and components $ 180,948 $ 207,885 Other inventory, primarily raw materials 192,286 167,703 Total $ 373,234 $ 375,588

Debt

Debt	9 Months Ended
	Sep. 30, 2015
Debt Disclosure [Abstract]
Debt	DEBT Long-term Debt consisted of the following: (in thousands) Sep 30, 2015 Dec 31, 2014 4.650% Senior Notes due 2024: Principal of the Notes $ 500,000 $ 500,000 Issuance costs, net of amortization (6,245 ) (6,761 ) Fair value of interest rate swap on $100 million of principal 3,740 230 Term Loan Facility 300,000 250,000 Revolving Credit Facility — — Long-term Debt $ 797,495 $ 743,469 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 September 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) Sep 30, 2015 Dec 31, 2014 4.650% Senior Notes due 2024: Principal of the Notes $ 500,000 $ 500,000 Issuance costs, net of amortization (6,245 ) (6,761 ) Fair value of interest rate swap on $100 million of principal 3,740 230 Term Loan Facility 300,000 250,000 Revolving Credit Facility — — Long-term Debt $ 797,495 $ 743,469

Commitments And Contingencies

Commitments And Contingencies	9 Months Ended
	Sep. 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. The Court has not yet ruled on that motion. 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 September 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 $478 million at September 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 an asset of $3.7 million at September 30, 2015 , which is reflected on our balance sheet as a component of Other Long-term Assets, with the offset as an adjustment to the carrying value of Long-term Debt. This value was arrived at using a discounted cash flow model using Level 2 inputs. In the second and third quarters of 2015, the exchange rate for the Angolan kwanza relative to the U.S. dollar declined approximately 14% and 11%, respectively. This caused us to record foreign currency transaction losses related to the kwanza of $7.9 million and $17.9 million in the three- and nine-month periods ended September 30, 2015 , respectively, and those amounts are included as a component of Other expense, net in our Consolidated Statements of Income for the respective periods. The adjustments related primarily to our kwanza 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 kwanza cash balances to increase. As of September 30, 2015 , we had the equivalent of approximately $34 million of cash in kwanza in Angola reflected on our balance sheet.

Earnings Per Share, Stock-Based

Earnings Per Share, Stock-Based Compensation and Share Repurchase Plan	9 Months Ended
	Sep. 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 Sep 30, Nine Months Ended Sep 30, (in thousands) 2015 2014 2015 2014 Basic shares outstanding 97,845 106,923 98,609 107,694 Effect of restricted stock units 340 484 382 486 Diluted shares outstanding 98,185 107,407 98,991 108,180 In the second quarter of 2014, we raised our dividend to our common shareholders to the current rate of $0.27 per share. Our latest $0.27 per share quarterly dividend was declared in October 2015 and is payable in December 2015. Share-Based Compensation. We have no outstanding stock options and, therefore, no 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 September 30, 2015 and December 31, 2014 , respective totals of 858,717 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 $20 million at September 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 September 30, 2015 . We account for the shares we hold in treasury under the cost method, at average cost.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 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 our effective tax rates of 31.3% in the periods ended September 30, 2015 and 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 $4.5 million in the caption "other long-term liabilities" on our balance sheet for unrecognized tax benefits at September 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 2012 United Kingdom 2011 Norway 2005 Angola 2010 Brazil 2010 Australia 2011

Business Segment Information

Business Segment Information	9 Months Ended
	Sep. 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 Nine Months Ended (in thousands) Sep 30, 2015 Sep 30, 2014 Jun 30, 2015 Sep 30, 2015 Sep 30, 2014 Revenue Oilfield Remotely Operated Vehicles $ 198,426 $ 285,385 $ 216,426 $ 634,299 $ 809,478 Subsea Products 220,039 336,745 240,057 700,825 924,007 Subsea Projects 147,191 151,560 172,324 473,087 425,949 Asset Integrity 95,609 134,734 95,509 289,611 389,122 Total Oilfield 661,265 908,424 724,316 2,097,822 2,548,556 Advanced Technologies 82,348 64,665 85,987 242,866 192,141 Total $ 743,613 $ 973,089 $ 810,303 $ 2,340,688 $ 2,740,697 Income from Operations Oilfield Remotely Operated Vehicles $ 52,417 $ 88,350 $ 61,294 $ 175,893 $ 240,915 Subsea Products 46,079 83,430 42,286 138,379 217,443 Subsea Projects 28,841 27,339 30,607 81,724 73,739 Asset Integrity 8,549 19,583 4,576 18,150 49,583 Total Oilfield 135,886 218,702 138,763 414,146 581,680 Advanced Technologies 1,635 2,863 6,267 12,922 6,016 Unallocated Expenses (24,057 ) (39,647 ) (37,090 ) (99,014 ) (111,605 ) Total $ 113,464 $ 181,918 $ 107,940 $ 328,054 $ 476,091 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)	9 Months Ended
	Sep. 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 (the "SEC"). 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 September 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. We use the cost method for all other long-term investments. Investments in entities that we do not consolidate are reflected on our balance sheet in Other non-current assets. 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 second quarter of 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 $0.6 million and $0.1 million of interest in the three-month periods ended September 30, 2015 and 2014 , respectively, and $1.7 million and $0.3 million of interest in the nine-month periods ended September 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. 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 from operations 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 ." 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 before periods beginning after December 15, 2016, 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 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 - 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. In August 2015, the FASB issued ASU 2015-15, "Interest - Imputation of Interest - Presentation and Subsequent Measurement of Debt Issuance Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements." This update clarifies that the SEC staff would not object to an entity deferring and presenting debt issuance costs as an asset and subsequently amortizing the deferred debt issuance costs ratably over the term of the line of credit arrangement, such as the revolving credit facility we have under our bank credit agreement, regardless of whether there are any outstanding borrowings on the line of credit arrangement. In July 2015, the FASB issued ASU 2015-11, "Inventory - Simplifying the Measurement of Inventory." ASU 2015-11 requires companies to measure inventory at the lower of cost or net realizable value rather than at the lower of cost or market. Net realizable value is the estimated selling price in the ordinary course of business, less reasonably predictable costs of completion, disposal and transportation. This guidance is effective for our inventories beginning January 1, 2017. We do not anticipate that this update will have a material impact on our consolidated financial statements. In September 2015, the FASB issued ASU 2015-16, "Business Combinations - Simplifying the Accounting for Measurement-Period Adjustments." This update requires that an acquirer recognize adjustments to provisional amounts that are identified during the measurement period in the reporting period in which the adjustment amounts are determined. The update requires that the acquirer record, in the same period’s financial statements, the effect on earnings of changes in depreciation, amortization, or other income effects, if any, as a result of the change to the provisional amounts, calculated as if the accounting had been completed at the acquisition date. The update requires an entity to present separately on the face of the income statement or disclose in the notes the portion of the amount recorded in current-period earnings by line item that would have been recorded in previous reporting periods if the adjustment to the provisional amounts had been recognized as of the acquisition date. ASU 2015-16 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. We do not anticipate that this update will have a material impact on our consolidated financial statements.

Inventory (Tables)

Inventory (Tables)	9 Months Ended
	Sep. 30, 2015
Inventory Disclosure [Abstract]
Inventory [Table Text Block]	(in thousands) Sep 30, 2015 Dec 31, 2014 Inventory: Remotely operated vehicle parts and components $ 180,948 $ 207,885 Other inventory, primarily raw materials 192,286 167,703 Total $ 373,234 $ 375,588

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2015
Debt Instrument [Line Items]
Schedule of Debt [Table Text Block]	Long-term Debt consisted of the following: (in thousands) Sep 30, 2015 Dec 31, 2014 4.650% Senior Notes due 2024: Principal of the Notes $ 500,000 $ 500,000 Issuance costs, net of amortization (6,245 ) (6,761 ) Fair value of interest rate swap on $100 million of principal 3,740 230 Term Loan Facility 300,000 250,000 Revolving Credit Facility — — Long-term Debt $ 797,495 $ 743,469

Earnings Per Share, Stock-Bas17

Earnings Per Share, Stock-Based Compensation and Share Repurchase Plan (Tables)	9 Months Ended
	Sep. 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 Sep 30, Nine Months Ended Sep 30, (in thousands) 2015 2014 2015 2014 Basic shares outstanding 97,845 106,923 98,609 107,694 Effect of restricted stock units 340 484 382 486 Diluted shares outstanding 98,185 107,407 98,991 108,180

Income Taxes (Tables)

Income Taxes (Tables)	9 Months Ended
	Sep. 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 2012 United Kingdom 2011 Norway 2005 Angola 2010 Brazil 2010 Australia 2011

Business Segment Information (T

Business Segment Information (Tables)	9 Months Ended
	Sep. 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 Nine Months Ended (in thousands) Sep 30, 2015 Sep 30, 2014 Jun 30, 2015 Sep 30, 2015 Sep 30, 2014 Revenue Oilfield Remotely Operated Vehicles $ 198,426 $ 285,385 $ 216,426 $ 634,299 $ 809,478 Subsea Products 220,039 336,745 240,057 700,825 924,007 Subsea Projects 147,191 151,560 172,324 473,087 425,949 Asset Integrity 95,609 134,734 95,509 289,611 389,122 Total Oilfield 661,265 908,424 724,316 2,097,822 2,548,556 Advanced Technologies 82,348 64,665 85,987 242,866 192,141 Total $ 743,613 $ 973,089 $ 810,303 $ 2,340,688 $ 2,740,697 Income from Operations Oilfield Remotely Operated Vehicles $ 52,417 $ 88,350 $ 61,294 $ 175,893 $ 240,915 Subsea Products 46,079 83,430 42,286 138,379 217,443 Subsea Projects 28,841 27,339 30,607 81,724 73,739 Asset Integrity 8,549 19,583 4,576 18,150 49,583 Total Oilfield 135,886 218,702 138,763 414,146 581,680 Advanced Technologies 1,635 2,863 6,267 12,922 6,016 Unallocated Expenses (24,057 ) (39,647 ) (37,090 ) (99,014 ) (111,605 ) Total $ 113,464 $ 181,918 $ 107,940 $ 328,054 $ 476,091

Summary Of Major Accounting P20

Summary Of Major Accounting Policies - Principles of Consolidation And Repurchases (Details)	Sep. 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		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Accounting Policies [Abstract]
Interest Costs, Capitalized During Period	$ 610	$ 98	$ 1,703	$ 260

Summary Of Major Accounting P22

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

Inventory (Details)

Inventory (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Inventory Disclosure [Abstract]
Inventory for remotely operated vehicles	$ 180,948	$ 207,885
Other inventory, primarily raw materials	192,286	167,703
Total	$ 373,234	$ 375,588

Debt - Long-Term Debt (Details)

Debt - Long-Term Debt (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2014	Sep. 30, 2015	Nov. 21, 2014
Debt Disclosure [Abstract]
Payments of Debt Issuance Costs	$ 6,900
Notes Payable, Fair Value Disclosure		$ 478,000
4.650% Senior Notes due 2024	500,000	500,000	$ 500,000
Unamortized Debt Issuance Expense	(6,761)	(6,245)
Fair Value Hedge Liabilities	230	3,740
Loans Payable to Bank	250,000	300,000
Revolving credit facility	0	0
Long-term Debt	$ 743,469	$ 797,495

Debt - Line of Credit (Details)

Debt - Line of Credit (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2014	Sep. 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		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 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
Line of Credit Facility, Amount Outstanding	0		0		$ 0
Other income (expense), net	(9,099)	$ (392)	(14,883)	$ (515)
Other Income [Member]
Loss Contingencies [Line Items]
Other income (expense), net	$ 7,900		$ 17,900

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		9 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Sep. 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		858,717	858,717	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	2,000,000
Stock Repurchase Program, Total Shares Repurchased To Date, Amount		$ 100	$ 100
Dividend Declared [Member]
Shareholders' Equity, Earnings Per Share And Stock-Based Compensation [Line Items]
Common Stock, Dividends, Per Share, Declared	$ 0.27
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		$ 20	$ 20
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		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Shareholders' Equity, Earnings Per Share And Stock-Based Compensation [Abstract]
Basic shares outstanding	97,845	106,923	98,609	107,694
Effect of restricted stock units	340	484	382	486
Diluted shares outstanding	98,185	107,407	98,991	108,180

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2015USD ($)	Sep. 30, 2015USD ($)
Operating Loss Carryforwards [Line Items]
Effective income tax rate continuing operations	31.30%	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	$ 4.5	$ 4.5

Income Taxes - Summary Of Earli

Income Taxes - Summary Of Earliest Tax Years Open To Examination (Details)	9 Months Ended
	Sep. 30, 2015
United States [Member]
Income Tax Examination [Line Items]
Earliest tax years open to examination by tax authorities	2,012
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	2,005
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			9 Months Ended
	Sep. 30, 2015	Jun. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Segment Reporting Information [Line Items]
Revenue	$ 743,613	$ 810,303	$ 973,089	$ 2,340,688	$ 2,740,697
Income from Operations	113,464	107,940	181,918	328,054	476,091
Oil And Gas [Member]
Segment Reporting Information [Line Items]
Revenue	661,265	724,316	908,424	2,097,822	2,548,556
Income from Operations	135,886	138,763	218,702	414,146	581,680
ROVs [Member]
Segment Reporting Information [Line Items]
Revenue	198,426	216,426	285,385	634,299	809,478
Income from Operations	52,417	61,294	88,350	175,893	240,915
Subsea Products [Member]
Segment Reporting Information [Line Items]
Revenue	220,039	240,057	336,745	700,825	924,007
Income from Operations	46,079	42,286	83,430	138,379	217,443
Subsea Projects [Member]
Segment Reporting Information [Line Items]
Revenue	147,191	172,324	151,560	473,087	425,949
Income from Operations	28,841	30,607	27,339	81,724	73,739
Asset Integrity [Member]
Segment Reporting Information [Line Items]
Revenue	95,609	95,509	134,734	289,611	389,122
Income from Operations	8,549	4,576	19,583	18,150	49,583
Advanced Technologies [Member]
Segment Reporting Information [Line Items]
Revenue	82,348	85,987	64,665	242,866	192,141
Income from Operations	1,635	6,267	2,863	12,922	6,016
Unallocated Expenses [Member]
Segment Reporting Information [Line Items]
Income from Operations	$ (24,057)	$ (37,090)	$ (39,647)	$ (99,014)	$ (111,605)