(15)

SEGMENT INFORMATION, GEOGRAPHICAL DATA AND MAJOR CUSTOMERS

The company follows the disclosure requirements of ASC 280, Segment Reporting. Operating business segments are defined as a component of an enterprise for which separate financial information is available and is evaluated by the chief operating decision maker in deciding how to allocate resources and in assessing performance.

We manage and measure our business performance in four distinct operating segments: Americas, Asia/Pacific, Middle East/North Africa, and Sub-Saharan Africa/Europe. These segments are reflective of how the company’s chief operating decision maker (CODM) reviews operating results for the purposes of allocating resources and assessing performance. The company’s CODM is its Chief Executive Officer.

The following table provides a comparison of revenues, vessel operating profit, depreciation and amortization, and additions to properties and equipment for the years ended March 31. Vessel revenues and operating costs relate to vessels owned and operated by the company while other operating revenues relate to the activities of the company’s shipyards, brokered vessels and other miscellaneous marine-related businesses.


(In thousands)	2014			2013			2012
Revenues:
Vessel revenues :
Americas	$	410,731			327,059			324,529
Asia/Pacific		154,618			184,014			153,752
Middle East/North Africa		186,524			149,412			109,489
Sub-Saharan Africa/Europe		666,588			569,513			472,698
		1,418,461			1,229,998			1,060,468
Other operating revenues		16,642			14,167			6,539
	$	1,435,103			1,244,165			1,067,007

Vessel operating profit:
Americas	$	90,936			40,318			56,003
Asia/Pacific		29,044			43,704			16,125
Middle East/North Africa		42,736			39,069			805
Sub-Saharan Africa/Europe		136,092			129,460			97,142
		298,808			252,551			170,075
Other operating profit		(1,930	)		(833	)		(2,867	)
		296,878			251,718			167,208

Corporate general and administrative expenses (A)		(47,703	)		(48,704	)		(36,665	)
Corporate depreciation		(3,073	)		(3,391	)		(3,714	)
Corporate expenses		(50,776	)		(52,095	)		(40,379	)

Gain on asset dispositions, net		11,722			6,609			17,657
Goodwill impairment		(56,283	)		—			(30,932	)
Operating income		201,541			206,232			113,554
Foreign exchange gain		1,541			3,011			3,309
Equity in net earnings of unconsolidated companies		15,801			12,189			13,041
Interest income and other, net		2,123			3,476			3,440
Loss on early extinguishment of debt		(4,144	)		—			—
Interest and other debt costs		(43,814	)		(29,745	)		(22,308	)
Earnings before income taxes	$	173,048			195,163			111,036

Depreciation and amortization:
Americas	$	43,297			40,454			38,128
Asia/Pacific		17,174			19,416			20,758
Middle East/North Africa		24,441			18,784			17,606
Sub-Saharan Africa/Europe		79,199			65,241			58,137
		164,111			143,895			134,629
Other		296			13			13
Corporate		3,073			3,391			3,714
	$	167,480			147,299			138,356

Additions to properties and equipment:
Americas	$	99,798			52,299			7,279
Asia/Pacific		2,586			19,858			64,431
Middle East/North Africa		8,042			3,833			16,828
Sub-Saharan Africa/Europe (B)		488,984			197,534			84,491
		599,410			273,524			173,029
Other		31,841			—			—
Corporate (C)		175,233			179,058			194,931
	$	806,484			452,582			367,960

Total assets (D):
Americas	$	1,017,736			880,368			1,025,386
Asia/Pacific		421,379			607,546			654,357
Middle East/North Africa		613,303			507,124			405,625
Sub-Saharan Africa/Europe		2,383,507			1,706,355			1,519,124
		4,435,925			3,701,393			3,604,492
Other		31,545			5,102			6,576
		4,467,470			3,706,495			3,611,068
Investments in and advances to unconsolidated companies		63,928			46,047			46,077
		4,531,398			3,752,542			3,657,145
Corporate (E)		354,431			415,513			404,473
	$	4,885,829			4,168,055			4,061,618

(A)

Included in Corporate general and administrative expenses for the year ended March 31, 2014 and 2013 are transaction costs of $3.7 million related to the acquisition of Troms Offshore and a settlement charge of $5.2 million related to the payment of retirement benefits to a former Chief Executive Officer, respectively.

(B)	Included in Sub-Saharan Africa/Europe for the year ended March 31, 2014 is $245.6 million related to vessels acquired through the acquisition of Troms Offshore.

(C)	Included in Corporate are additions to properties and equipment relating to vessels currently under construction which have not yet been assigned to a non-corporate reporting segment as of the dates presented.

(D)

Marine support services are conducted worldwide with assets that are highly mobile. Revenues are principally derived from offshore service vessels, which regularly and routinely move from one operating area to another, often to and from offshore operating areas in different continents. Because of this asset mobility, revenues and long-lived assets attributable to the company’s international marine operations in any one country are not material.

(E)

Included in Corporate are vessels currently under construction which have not yet been assigned to a non-corporate reporting segment. The vessel construction costs will be reported in Corporate until the earlier of the vessels being assigned to a non-corporate reporting segment or the vessels’ delivery. At March 31, 2014, 2013 and 2012, $228.9 million, $229.3 million and $249.4 million, respectively, of vessel construction costs are included in Corporate.

The following table discloses the amount of revenue by segment, and in total for the worldwide fleet, along with the respective percentage of total vessel revenue for the years ended March 31,:


Revenue by vessel class: (In thousands):	2014		% of Vessel Revenue			2013		% of Vessel Revenue			2012		% of Vessel Revenue
Americas fleet:
Deepwater	$	263,750		18	%		179,032		15	%		146,950		14	%
Towing-supply		115,055		8	%		120,817		10	%		143,796		14	%
Other		31,926		3	%		27,210		2	%		33,783		3	%
Total	$	410,731		29	%		327,059		27	%		324,529		31	%
Asia/Pacific fleet:
Deepwater	$	88,191		6	%		96,118		8	%		75,495		7	%
Towing-supply		62,630		5	%		84,217		7	%		73,845		7	%
Other		3,797		<1	%		3,679		<1	%		4,412		<1	%
Total	$	154,618		11	%		184,014		15	%		153,752		14	%
Middle East/North Africa fleet:
Deepwater	$	66,503		5	%		55,945		5	%		46,511		4	%
Towing-supply		116,720		8	%		89,902		7	%		56,902		5	%
Other		3,301		<1	%		3,565		<1	%		6,076		1	%
Total	$	186,524		13	%		149,412		12	%		109,489		10	%
Sub-Saharan Africa/Europe fleet:
Deepwater	$	364,722		26	%		273,544		22	%		199,697		19	%
Towing-supply		231,224		16	%		226,357		18	%		201,463		19	%
Other		70,642		5	%		69,612		6	%		71,538		7	%
Total	$	666,588		47	%		569,513		46	%		472,698		45	%
Worldwide fleet:
Deepwater	$	783,166		55	%		604,639		50	%		468,653		44	%
Towing-supply		525,629		37	%		521,293		42	%		476,006		45	%
Other		109,666		8	%		104,066		8	%		115,809		11	%
Total	$	1,418,461		100	%		1,229,998		100	%		1,060,468		100	%

The following table discloses our customers that accounted for 10% or more of total revenues during the years ended March 31:


	2014			2013			2012
Chevron Corporation (including its worldwide subsidiaries and affiliates)		18.1	%		17.8	%		17.4	%
Petroleo Brasileiro SA		8.6	%		8.6	%		14.6	%