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 Witt O’Brien’s $’000 Other $’000 Corporate and Eliminations $’000 Total $’000 For the year ended December 31, 2016 Operating Revenues: External customers 215,536 165,140 229,643 177,401 42,783 482 — 830,985 Intersegment 100 2,403 — — 133 — (2,636 ) — 215,636 167,543 229,643 177,401 42,916 482 (2,636 ) 830,985 Costs and Expenses: Operating 166,925 124,460 122,631 158,495 28,561 — (3,259 ) 597,813 Administrative and general 49,308 14,616 27,825 3,011 16,214 1,001 26,606 138,581 Depreciation and amortization 58,069 26,327 31,162 4,299 1,539 — 3,537 124,933 274,302 165,403 181,618 165,805 46,314 1,001 26,884 861,327 Gains (Losses) on Asset Dispositions and Impairments, Net (116,222 ) 3,193 411 — (29,587 ) — — (142,205 ) Operating Income (Loss) (174,888 ) 5,333 48,436 11,596 (32,985 ) (519 ) (29,520 ) (172,547 ) Other Income (Expense): Derivative gains (losses), net 2,995 — — 911 — — (14,131 ) (10,225 ) Foreign currency gains (losses), net (3,312 ) 1,722 (18 ) — (181 ) (1 ) (78 ) (1,868 ) Other, net (1,490 ) (4 ) (6,224 ) — — (12,608 ) 120 (20,206 ) Equity in Earnings (Losses) of 50% or Less Owned Companies, Net of Tax (6,314 ) (15,944 ) (4,697 ) — 305 (704 ) — (27,354 ) Segment Profit (Loss) (183,009 ) (8,893 ) 37,497 12,507 (32,861 ) (13,832 ) Other Income (Expense) not included in Segment Profit (57,402 ) Less Equity in Losses included in Segment Profit 27,354 Loss Before Taxes and Equity Earnings (262,248 ) Capital Expenditures 100,884 36,803 215,837 4,723 2 — 164 358,413 As of December 31, 2016 Property and Equipment: Historical cost 958,759 419,714 727,602 56,708 1,559 — 29,681 2,194,023 Accumulated depreciation (540,619 ) (167,127 ) (258,004 ) (23,689 ) (1,244 ) — (18,184 ) (1,008,867 ) 418,140 252,587 469,598 33,019 315 — 11,497 1,185,156 Construction in progress 123,801 13,003 233,214 701 — — (207 ) 370,512 541,941 265,590 702,812 33,720 315 — 11,290 1,555,668 Investments, at Equity, and Advances to 50% or Less Owned Companies 138,311 69,181 51,620 — 566 54,094 — 313,772 Inventories 3,058 1,602 843 11,133 137 — — 16,773 Goodwill — 2,400 1,852 — 28,506 — — 32,758 Intangible Assets — 12,018 — — 8,060 — — 20,078 Other current and long-term assets, excluding cash and near cash assets (3) 72,810 88,165 29,801 11,850 14,284 11,193 21,576 249,679 Segment Assets 756,120 438,956 786,928 56,703 51,868 65,287 Cash and near cash assets (3) 673,593 Total Assets 2,862,321 ______________________ (1) Operating revenues includes $167.0 million of tangible product sales and operating expenses includes $148.2 million of costs of goods sold. (2) Inventories include raw materials of $1.8 million and work in process of $1.5 million . (3) Cash and near cash assets includes cash, cash equivalents, restricted cash, marketable securities and construction reserve funds. Offshore Marine Services $’000 Inland River Services $’000 Shipping Services $’000 ICP (1)(2) $’000 Witt O’Brien’s $’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 49,838 14,506 — 1,054,736 Intersegment 124 2,881 — — 146 — (3,151 ) — 368,868 230,482 227,142 166,905 49,984 14,506 (3,151 ) 1,054,736 Costs and Expenses: Operating 275,972 168,015 129,039 143,967 21,899 13,054 (3,341 ) 748,605 Administrative and general 53,085 15,567 26,215 2,307 24,096 2,546 32,795 156,611 Depreciation and amortization 61,729 28,632 26,296 3,902 1,711 5 3,712 125,987 390,786 212,214 181,550 150,176 47,706 15,605 33,166 1,031,203 Gains (Losses) on Asset Dispositions and Impairments, Net (17,017 ) 14,868 — — (27 ) (232 ) — (2,408 ) Operating Income (Loss) (38,935 ) 33,136 45,592 16,729 2,251 (1,331 ) (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 ) — (36 ) (11 ) (922 ) (4,752 ) Other, net 261 — 2,053 4,112 19 33 295 6,773 Equity in Earnings (Losses) of 50% or Less Owned Companies, Net of Tax 8,757 (31,200 ) (18,782 ) — 135 676 — (40,414 ) Segment Profit (Loss) (32,710 ) (1,496 ) 28,833 19,590 2,369 (1,105 ) Other Income (Expense) not included in Segment Profit (51,848 ) Less Equity Losses included in Segment Profit 40,414 Loss Before Taxes and Equity Earnings (30,798 ) Capital Expenditures 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 — 344 54,887 — 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 14,780 16,014 7,014 243,574 Segment Assets 886,104 495,041 645,592 59,609 83,134 70,901 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 Witt O’Brien’s $’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 27,691 62,045 — 1,319,394 Intersegment 183 3,862 — — — — (4,045 ) — 529,944 253,150 214,316 236,293 27,691 62,045 (4,045 ) 1,319,394 Costs and Expenses: Operating 365,092 174,918 112,771 187,849 12,978 59,666 (3,902 ) 909,372 Administrative and general 58,353 15,937 24,518 2,177 19,180 5,957 38,816 164,938 Depreciation and amortization 64,615 29,435 28,420 4,119 1,045 284 3,901 131,819 488,060 220,290 165,709 194,145 33,203 65,907 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 (5,512 ) (4,939 ) (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 ) — (53 ) (102 ) (1,430 ) (6,335 ) Other, net 14,671 (38 ) (3,630 ) 660 (5,056 ) (3,097 ) (71 ) 3,439 Equity in Earnings (Losses) of 50% or Less Owned Companies, Net of Tax 10,468 6,673 (661 ) — (465 ) 294 — 16,309 Segment Profit (Loss) 92,022 65,817 44,435 39,031 (11,086 ) (7,574 ) 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 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 3,342 271 30,161 2,086,957 Accumulated depreciation (500,007 ) (159,532 ) (213,072 ) (15,488 ) (3,002 ) (247 ) (10,936 ) (902,284 ) 560,979 331,547 240,790 31,768 340 24 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 32,486 340 258 19,369 1,502,673 Investments, at Equity, and Advances to 50% or Less Owned Companies 115,436 103,688 222,420 — 524 42,089 — 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) 128,499 99,335 23,910 11,538 26,131 45,547 7,670 342,630 Segment Assets 913,703 573,577 691,848 55,194 95,997 90,371 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. During the years ended December 31, 2016 , 2015 and 2014 , 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, 2016 , 2015 and 2014 , approximately 29% , 29% and 30% , 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): 2016 2015 2014 Operating Revenues: United States $ 590,310 $ 751,548 $ 925,750 Africa, primarily West Africa 37,764 57,268 70,743 Europe, primarily North Sea 82,730 104,042 112,644 Middle East and Asia 54,950 65,045 69,598 Brazil, Mexico, Central and South America 64,837 76,404 140,460 Other 394 429 199 $ 830,985 $ 1,054,736 $ 1,319,394 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): 2016 2015 2014 Property and Equipment: United States $ 1,185,917 $ 1,181,586 $ 1,120,765 Africa, primarily West Africa 75,772 73,406 82,495 Europe, primarily North Sea 83,767 72,544 75,382 Middle East and Asia 99,974 129,476 84,598 Brazil, Mexico, Central and South America 110,238 126,613 139,433 $ 1,555,668 $ 1,583,625 $ 1,502,673 |