Major Customers And Segment Information | 17. MAJOR CUSTOMERS AND SEGMENT INFORMATION The following tables summarize the operating results, capital expenditures and assets of the Company’s reportable segments. Offshore Marine Services $’000 Inland River Services $’000 Shipping Services $’000 ICP (1)(2) $’000 Other $’000 Corporate and Eliminations $’000 Total $’000 For the year ended December 31, 2015 Operating Revenues: External customers 368,744 227,601 227,142 166,905 64,344 — 1,054,736 Intersegment 124 2,881 — — 146 (3,151 ) — 368,868 230,482 227,142 166,905 64,490 (3,151 ) 1,054,736 Costs and Expenses: Operating 275,972 168,015 129,039 143,967 34,953 (3,341 ) 748,605 Administrative and general 53,085 15,567 26,215 2,307 26,642 32,795 156,611 Depreciation and amortization 61,729 28,632 26,296 3,902 1,716 3,712 125,987 390,786 212,214 181,550 150,176 63,311 33,166 1,031,203 Gains (Losses) on Asset Dispositions and Impairments, Net (17,017 ) 14,868 — — (259 ) — (2,408 ) Operating Income (Loss) (38,935 ) 33,136 45,592 16,729 920 (36,317 ) 21,125 Other Income (Expense): Derivative gains (losses), net (2,766 ) 294 — (1,251 ) (472 ) 2,099 (2,096 ) Foreign currency losses, net (27 ) (3,726 ) (30 ) — (47 ) (922 ) (4,752 ) Other, net 261 — 2,053 4,112 52 295 6,773 Equity in Earnings (Losses) of 50% or Less Owned Companies, Net of Tax 8,757 (31,200 ) (18,782 ) — 811 — (40,414 ) Segment Profit (Loss) (32,710 ) (1,496 ) 28,833 19,590 1,264 Other Income (Expense) not included in Segment Profit (51,848 ) Less Equity in Losses included in Segment Profit 40,414 Loss Before Taxes and Equity Earnings (30,798 ) Capital Expenditures of Continuing Operations 87,765 69,736 134,581 4,712 409 (1,273 ) 295,930 As of December 31, 2015 Property and Equipment: Historical cost 1,102,619 485,144 454,144 47,256 3,338 30,700 2,123,201 Accumulated depreciation (546,962 ) (171,271 ) (239,076 ) (19,390 ) (2,834 ) (14,648 ) (994,181 ) 555,657 313,873 215,068 27,866 504 16,052 1,129,020 Construction in progress 97,900 17,807 335,113 5,430 — (1,645 ) 454,605 653,557 331,680 550,181 33,296 504 14,407 1,583,625 Investments, at Equity, and Advances to 50% or Less Owned Companies 130,010 81,363 64,499 — 55,231 — 331,103 Inventories 4,000 1,493 701 18,574 — — 24,768 Goodwill — 2,364 1,852 — 48,124 — 52,340 Intangible Assets 1,049 5,961 — — 19,382 — 26,392 Other current and long-term assets, excluding cash and near cash assets (3) 97,488 72,180 28,359 7,739 30,794 7,014 243,574 Segment Assets 886,104 495,041 645,592 59,609 154,035 Cash and near cash assets (3) 923,617 Total Assets 3,185,419 ______________________ (1) Operating revenues includes $154.8 million of tangible product sales and operating expenses includes $131.9 million of costs of goods sold. (2) Inventories include raw materials of $2.1 million and work in process of $1.5 million . (3) Cash and near cash assets includes cash, cash equivalents, marketable securities and construction reserve funds. Offshore Marine Services $’000 Inland River Services $’000 Shipping Services $’000 ICP (1)(2) $’000 Other $’000 Corporate and Eliminations $’000 Total $’000 For the year ended December 31, 2014 Operating Revenues: External customers 529,761 249,288 214,316 236,293 89,736 — 1,319,394 Intersegment 183 3,862 — — — (4,045 ) — 529,944 253,150 214,316 236,293 89,736 (4,045 ) 1,319,394 Costs and Expenses: Operating 365,092 174,918 112,771 187,849 72,644 (3,902 ) 909,372 Administrative and general 58,353 15,937 24,518 2,177 25,137 38,816 164,938 Depreciation and amortization 64,615 29,435 28,420 4,119 1,329 3,901 131,819 488,060 220,290 165,709 194,145 99,110 38,815 1,206,129 Gains (Losses) on Asset Dispositions and Impairments, Net 26,545 29,657 159 — (1,077 ) (3,306 ) 51,978 Operating Income (Loss) 68,429 62,517 48,766 42,148 (10,451 ) (46,166 ) 165,243 Other Income (Expense): Derivative gains (losses), net (171 ) — — (3,777 ) 270 (224 ) (3,902 ) Foreign currency losses, net (1,375 ) (3,335 ) (40 ) — (155 ) (1,430 ) (6,335 ) Other, net 14,671 (38 ) (3,630 ) 660 (8,153 ) (71 ) 3,439 Equity in Earnings (Losses) of 50% or Less Owned Companies, Net of Tax 10,468 6,673 (661 ) — (171 ) — 16,309 Segment Profit (Loss) 92,022 65,817 44,435 39,031 (18,660 ) Other Income (Expense) not included in Segment Profit 4,790 Less Equity Earnings included in Segment Profit (16,309 ) Income Before Taxes and Equity Earnings 163,235 Capital Expenditures of Continuing Operations 83,513 58,481 199,602 3,108 148 15,785 360,637 As of December 31, 2014 Property and Equipment: Historical cost 1,060,986 491,079 453,862 47,256 3,613 30,161 2,086,957 Accumulated depreciation (500,007 ) (159,532 ) (213,072 ) (15,488 ) (3,249 ) (10,936 ) (902,284 ) 560,979 331,547 240,790 31,768 364 19,225 1,184,673 Construction in progress 87,935 27,415 201,554 718 234 144 318,000 648,914 358,962 442,344 32,486 598 19,369 1,502,673 Investments, at Equity, and Advances to 50% or Less Owned Companies 115,436 103,688 222,420 — 42,613 — 484,157 Inventories 5,570 2,536 1,030 11,170 2,477 — 22,783 Goodwill 13,367 2,573 1,852 — 44,967 — 62,759 Intangible Assets 1,917 6,483 292 — 24,035 — 32,727 Other current and long-term assets, excluding cash and near cash assets (3)(4) 128,499 99,335 23,910 11,538 71,678 7,670 342,630 Segment Assets 913,703 573,577 691,848 55,194 186,368 Cash and near cash assets (3) 786,644 Total Assets 3,234,373 ______________________ (1) Operating revenues includes $224.4 million of tangible product sales and operating expenses includes $175.8 million of costs of goods sold. (2) Inventories include raw materials of $2.2 million and work in process of $1.7 million . (3) Cash and near cash assets includes cash, cash equivalents, restricted cash, marketable securities, construction reserve funds and Title XI reserve funds. (4) Effective December 31, 2015, the Company adopted new accounting standards regarding the presentation of deferred debt issuance costs and deferred tax liabilities and assets (see Note 1). As a result, the Company has reclassified previously reported amounts to conform with its December 31, 2015 presentation. Offshore Marine Services $’000 Inland River Services $’000 Shipping Services $’000 ICP (1)(2) $’000 Other $’000 Corporate and Eliminations $’000 Total $’000 For the year ended December 31, 2013 Operating Revenues: External customers 567,148 212,726 194,184 193,682 79,532 — 1,247,272 Intersegment 115 2,887 — — — (3,002 ) — 567,263 215,613 194,184 193,682 79,532 (3,002 ) 1,247,272 Costs and Expenses: Operating 382,045 152,527 117,283 184,649 75,254 (2,887 ) 908,871 Administrative and general 60,279 15,410 22,073 2,031 6,296 35,259 141,348 Depreciation and amortization 65,424 28,461 31,299 5,797 378 3,159 134,518 507,748 196,398 170,655 192,477 81,928 35,531 1,184,737 Gains on Asset Dispositions and Impairments, Net 28,664 6,555 240 — 1,907 141 37,507 Operating Income (Loss) 88,179 25,770 23,769 1,205 (489 ) (38,392 ) 100,042 Other Income (Expense): Derivative gains (losses), net 83 — — (2,078 ) 210 (6,538 ) (8,323 ) Foreign currency losses, net (2,209 ) (167 ) (14 ) — (342 ) (619 ) (3,351 ) Other, net 3 — 760 — 12 (189 ) 586 Equity in Earnings (Losses) of 50% or Less Owned Companies, Net of Tax 13,522 (7,626 ) (2,945 ) — 4,313 — 7,264 Segment Profit (Loss) 99,578 17,977 21,570 (873 ) 3,704 Other Income (Expense) not included in Segment Profit (21,322 ) Less Equity Earnings included in Segment Profit (7,264 ) Income Before Taxes, Equity Earnings and Discontinued Operations 67,632 Capital Expenditures of Continuing Operations 111,517 37,360 43,713 1,115 385 1,811 195,901 As of December 31, 2013 Property and Equipment Historical cost 1,139,639 481,421 498,951 44,166 3,967 31,039 2,199,183 Accumulated depreciation (471,590 ) (147,698 ) (223,667 ) (11,390 ) (662 ) (11,323 ) (866,330 ) 668,049 333,723 275,284 32,776 3,305 19,716 1,332,853 Construction in progress 102,452 28,855 11,324 738 113 — 143,482 770,501 362,578 286,608 33,514 3,418 19,716 1,476,335 Investments, at Equity, and Advances to 50% or Less Owned Companies 99,160 55,411 197,145 — 89,137 — 440,853 Inventories 6,315 2,279 1,329 16,172 1,520 — 27,615 Goodwill 13,367 2,766 1,852 — — — 17,985 Intangible Assets 3,650 7,568 859 7 339 — 12,423 Other current and long-term assets, excluding cash and near cash assets (3)(4) 149,239 69,267 15,097 5,409 47,584 15,717 302,313 Segment Assets 1,042,232 499,869 502,890 55,102 141,998 Cash and near cash assets (3) 825,641 Total Assets 3,103,165 ______________________ (1) Operating revenues includes $185.4 million of tangible product sales and operating expenses includes $176.4 million of costs of goods sold. (2) Inventories include raw materials of $1.8 million and work in process of $1.8 million . (3) Cash and near cash assets includes cash, cash equivalents, restricted cash, marketable securities, construction reserve funds and Title XI reserve funds. (4) Effective December 31, 2015, the Company adopted new accounting standards regarding the presentation of deferred debt issuance costs and deferred tax liabilities and assets (see Note 1). As a result, the Company has reclassified previously reported amounts to conform with its December 31, 2015 presentation. In the years ended December 31, 2015 , 2014 and 2013 , the Company did not earn revenues that were greater than or equal to 10% of total revenues from a single customer. For the years ended December 31, 2015 , 2014 and 2013 , approximately 29% , 30% and 32% , respectively, of the Company’s operating revenues were derived from its foreign operations. The Company’s foreign revenues are primarily derived from its Offshore Marine Services fleet and certain of its Inland River and Shipping Services fleets. These assets are highly mobile and regularly and routinely move between countries within a geographical region of the world. In addition, these assets may be redeployed among the geographical regions as changes in market conditions dictate. Because of this asset mobility, revenues and long-lived assets, primarily property and equipment, in any one country are not considered material. The following represents the Company’s revenues attributed by geographical region in which services are provided to customers for the years ended December 31 (in thousands): 2015 2014 2013 Operating Revenues: United States $ 751,548 $ 925,750 $ 845,056 Africa, primarily West Africa 57,268 70,743 79,991 Europe, primarily North Sea 104,042 112,644 101,834 Asia 18,168 22,393 26,203 Middle East 46,877 47,205 51,930 Brazil, Mexico, Central and South America 76,404 140,460 142,258 Other 429 199 — $ 1,054,736 $ 1,319,394 $ 1,247,272 The Company’s long-lived assets are primarily its property and equipment that are employed in various geographical regions of the world. The following represents the Company’s property and equipment based upon the assets’ physical location as of December 31 (in thousands): 2015 2014 2013 Property and Equipment: United States $ 1,181,586 $ 1,120,765 $ 1,094,370 Africa, primarily West Africa 73,406 82,495 73,137 Europe, primarily North Sea 72,544 75,382 93,713 Asia 13,067 19,807 21,485 Middle East 116,409 64,791 61,134 Brazil, Mexico, Central and South America 126,613 139,433 132,496 $ 1,583,625 $ 1,502,673 $ 1,476,335 |