(11)

SEGMENT AND GEOGRAPHIC DISTRIBUTION OF OPERATIONS

The following table provides a comparison of segment revenues, vessel operating profit, depreciation and amortization, and additions to properties and equipment for the quarters ended June 30, 2014 and 2013. 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 (the remainder of which the company disposed of in the quarter ended June 30, 2013), remotely operated vehicles (ROVs), brokered vessels and other miscellaneous marine-related businesses.


	Quarter Ended June 30,
(In thousands)	2014			2013
Revenues:
Vessel revenues:
Americas	$	119,983			90,244
Asia/Pacific		40,249			42,956
Middle East/North Africa		55,539			41,213
Sub-Saharan Africa/Europe		165,739			157,217
		381,510			331,630
Other operating revenues		4,167			2,455
	$	385,677			334,085

Vessel operating profit:
Americas	$	30,208			20,301
Asia/Pacific		(971	)		10,289
Middle East/North Africa		11,793			10,123
Sub-Saharan Africa/Europe		37,602			17,519
		78,632			58,232
Other operating profit		(2,423	)		(392	)
		76,209			57,840

Corporate general and administrative expenses		(12,332	)		(15,845	)
Corporate depreciation		(816	)		(710	)
Corporate expenses		(13,148	)		(16,555	)

Gain on asset dispositions, net		2,943			2,140
Operating income	$	66,004			43,425
Foreign exchange loss		(1,289	)		(89	)
Equity in net earnings of unconsolidated companies		5,283			4,420
Interest income and other, net		622			740
Interest and other debt costs, net		(13,129	)		(8,913	)
Earnings before income taxes	$	57,491			39,583

Depreciation and amortization:
Americas	$	11,408			10,110
Asia/Pacific		4,386			4,525
Middle East/North Africa		6,582			5,606
Sub-Saharan Africa/Europe		19,049			19,155
		41,425			39,396
Other		870			2
Corporate		816			710
	$	43,111			40,108

Additions to properties and equipment:
Americas	$	16,238			3,194
Asia/Pacific		73			515
Middle East/North Africa		430			139
Sub-Saharan Africa/Europe (A)		2,575			336,471
		19,316			340,319
Other		4,036			---
Corporate (B)		21,746			61,850
	$	45,098			402,169

(A)	Included in Sub-Saharan Africa/Europe for the quarter ended June 30, 2013 is $245.6 million related to vessels acquired through the acquisition of Troms Offshore.

(B)	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.

The following table provides a comparison of total assets at June 30, 2014 and March 31, 2014:


(In thousands)	June 30, 2014		March 31, 2014
Total assets:
Americas	$	1,101,797		1,017,736
Asia/Pacific		445,919		421,379
Middle East/North Africa		603,971		613,303
Sub-Saharan Africa/Europe		2,293,931		2,383,507
		4,445,618		4,435,925
Other		36,276		31,545
		4,481,894		4,467,470
Investments in, at equity, and advances to unconsolidated companies		67,926		63,928
		4,549,820		4,531,398
Corporate (A)		381,024		354,431
	$	4,930,844		4,885,829

Note A: Included in Corporate are vessels currently under construction which have not yet been assigned to a non-corporate reporting segment. A vessel’s construction costs are reported in Corporate until the earlier of the date the vessels is assigned to a non-corporate reporting segment or the date it is delivered. At June 30, 2014 and March 31, 2014, $250.1 million and $228.9 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 quarters ended June 30, 2014 and 2013:


	Quarter Ended June 30,
Revenue by vessel class: (In thousands):	2014			% of Vessel Revenue		2013		% of Vessel Revenue
Americas fleet:
Deepwater		$	82,282		21%		55,032		17%
Towing-supply			29,517		8%		27,670		8%
Other			8,184		2%		7,542		2%
Total		$	119,983		31%		90,244		27%
Asia/Pacific fleet:
Deepwater		$	24,242		7%		24,292		7%
Towing-supply			15,037		4%		17,722		6%
Other			970		<1%		942		<1%
Total		$	40,249		11%		42,956		13%
Middle East/North Africa fleet:
Deepwater		$	19,467		5%		15,852		5%
Towing-supply			35,279		9%		24,497		7%
Other			793		<1%		864		<1%
Total		$	55,539		15%		41,213		13%
Sub-Saharan Africa/Europe fleet:
Deepwater		$	91,691		24%		87,251		26%
Towing-supply			55,436		14%		54,860		17%
Other			18,612		5%		15,106		4%
Total		$	165,739		43%		157,217		47%
Worldwide fleet:
Deepwater		$	217,682		57%		182,427		55%
Towing-supply			135,269		35%		124,749		38%
Other			28,559		8%		24,454		7%
Total		$	381,510		100%		331,630		100%