(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)	2015			2014			2013
Revenues:
Vessel revenues:
Americas	$	505,699			410,731			327,059
Asia/Pacific		150,820			154,618			184,014
Middle East/North Africa		205,787			186,524			149,412
Sub-Saharan Africa/Europe		606,052			666,588			569,513
		1,468,358			1,418,461			1,229,998
Other operating revenues		27,159			16,642			14,167
	$	1,495,517			1,435,103			1,244,165

Vessel operating profit:
Americas	$	122,988			90,936			40,318
Asia/Pacific		11,541			29,044			43,704
Middle East/North Africa		37,258			42,736			39,069
Sub-Saharan Africa/Europe		122,169			136,092			129,460
		293,956			298,808			252,551
Other operating loss		(8,022	)		(1,930	)		(833	)
		285,934			296,878			251,718

Corporate general and administrative expenses (A)		(40,621	)		(47,703	)		(48,704	)
Corporate depreciation		(4,014	)		(3,073	)		(3,391	)
Corporate expenses		(44,635	)		(50,776	)		(52,095	)

Gain on asset dispositions, net		9,271			11,722			6,609
Goodwill impairment		(283,699	)		(56,283	)		—
Restructuring charge		(4,052	)		—			—
Operating income (loss)		(37,181	)		201,541			206,232
Foreign exchange gain		8,678			1,541			3,011
Equity in net earnings of unconsolidated companies		10,179			15,801			12,189
Interest income and other, net		1,927			2,123			3,476
Loss on early extinguishment of debt		—			(4,144	)		—
Interest and other debt costs		(50,029	)		(43,814	)		(29,745	)
Earnings (loss) before income taxes	$	(66,426	)		173,048			195,163

Depreciation and amortization:
Americas	$	47,682			43,298			40,454
Asia/Pacific		18,383			17,174			19,416
Middle East/North Africa		27,538			24,441			18,784
Sub-Saharan Africa/Europe		73,614			79,199			65,241
		167,217			164,112			143,895
Other		3,973			295			13
Corporate		4,014			3,073			3,391
	$	175,204			167,480			147,299

Additions to properties and equipment:
Americas	$	94,137			99,798			52,299
Asia/Pacific		91,497			2,586			19,858
Middle East/North Africa		1,842			8,042			3,833
Sub-Saharan Africa/Europe (B)		36,105			488,984			197,534
		223,581			599,410			273,524
Other		18,571			31,841			—
Corporate (C)		124,411			175,233			179,058
	$	366,563			806,484			452,582

Total assets (D):
Americas	$	1,016,133			1,017,736			880,368
Asia/Pacific		506,265			421,379			607,546
Middle East/North Africa		666,983			613,303			507,124
Sub-Saharan Africa/Europe		2,064,010			2,383,507			1,706,355
		4,253,391			4,435,925			3,701,393
Other		49,554			31,545			5,102
		4,302,945			4,467,470			3,706,495
Investments in and advances to unconsolidated companies		65,844			63,928			46,047
		4,368,789			4,531,398			3,752,542
Corporate (E)		387,373			354,431			415,513
	$	4,756,162			4,885,829			4,168,055

(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, 2015, 2014 and 2013, $235.2 million, $228.9 million and $229.3 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):	2015		% of Vessel Revenue			2014		% of Vessel Revenue			2013		% of Vessel Revenue
Americas fleet:
Deepwater	$	353,232		24	%		263,750		18	%		179,032		15	%
Towing-supply		125,029		9	%		115,055		8	%		120,817		10	%
Other		27,438		2	%		31,926		3	%		27,210		2	%
Total	$	505,699		35	%		410,731		29	%		327,059		27	%
Asia/Pacific fleet:
Deepwater	$	94,538		6	%		88,191		6	%		96,118		8	%
Towing-supply		53,281		4	%		62,630		5	%		84,217		7	%
Other		3,001		<1	%		3,797		<1	%		3,679		<1	%
Total	$	150,820		10	%		154,618		11	%		184,014		15	%
Middle East/North Africa fleet:
Deepwater	$	85,279		6	%		66,503		5	%		55,945		5	%
Towing-supply		117,232		8	%		116,720		8	%		89,902		7	%
Other		3,276		<1	%		3,301		<1	%		3,565		<1	%
Total	$	205,787		14	%		186,524		13	%		149,412		12	%
Sub-Saharan Africa/Europe fleet:
Deepwater	$	326,315		22	%		364,722		26	%		273,544		22	%
Towing-supply		208,324		14	%		231,224		16	%		226,357		18	%
Other		71,413		5	%		70,642		5	%		69,612		6	%
Total	$	606,052		41	%		666,588		47	%		569,513		46	%
Worldwide fleet:
Deepwater	$	859,364		58	%		783,166		55	%		604,639		50	%
Towing-supply		503,866		35	%		525,629		37	%		521,293		42	%
Other		105,128		7	%		109,666		8	%		104,066		8	%
Total	$	1,468,358		100	%		1,418,461		100	%		1,229,998		100	%

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


	2015			2014			2013
Chevron Corporation		12.7	%		18.1	%		17.8	%
Petroleo Brasileiro SA		11.8	%		8.6	%		8.6	%
BP plc		10.1	%		8.9	%		7.9	%