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SEGMENT AND GEOGRAPHIC DISTRIBUTION OF OPERATIONS (Tables) | 9 Months Ended
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Dec. 31, 2015
Segment Reporting [Abstract] |
Segment Information, Geographical Data and Major Customers | The following table provides a comparison of segment revenues, vessel operating profit, depreciation and amortization, and additions to properties and equipment for the quarters and nine-month periods ended December 31, 2015 and 2014. Vessel revenues and operating costs relate to vessels owned and operated by the company while other operating revenues relate to the activities of the remotely operated vehicles (ROVs), brokered vessels and other miscellaneous marine-related businesses.
|  | Quarter Ended |  |  | Nine Months Ended |
|  | December 31, |  |  | December 31, |
(In thousands) |  | 2015 |  |  | 2014 |  |  | 2015 |  |  | 2014 |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Vessel revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Americas |  | $ | 75,963 |  |  |  | 134,554 |  |  |  | 279,345 |  |  |  | 388,550 |
Asia/Pacific |  |  | 19,144 |  |  |  | 35,046 |  |  |  | 79,254 |  |  |  | 121,284 |
Middle East/North Africa |  |  | 40,184 |  |  |  | 55,925 |  |  |  | 132,786 |  |  |  | 160,301 |
Sub-Saharan Africa/Europe |  |  | 77,617 |  |  |  | 152,601 |  |  |  | 283,967 |  |  |  | 480,453 |
|  |  | 212,908 |  |  |  | 378,126 |  |  |  | 775,352 |  |  |  | 1,150,588 |
Other operating revenues |  |  | 5,283 |  |  |  | 9,428 |  |  |  | 19,536 |  |  |  | 20,167 |
|  | $ | 218,191 |  |  |  | 387,554 |  |  |  | 794,888 |  |  |  | 1,170,755 |
Vessel operating profit (loss): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Americas |  | $ | 9,289 |  |  |  | 33,784 |  |  |  | 41,940 |  |  |  | 100,770 |
Asia/Pacific |  |  | (3,796 | ) |  |  | 2,621 |  |  |  | 4,122 |  |  |  | 9,064 |
Middle East/North Africa |  |  | 5,849 |  |  |  | 12,408 |  |  |  | 21,524 |  |  |  | 31,568 |
Sub-Saharan Africa/Europe |  |  | (2,079 | ) |  |  | 34,120 |  |  |  | 2,459 |  |  |  | 113,168 |
|  |  | 9,263 |  |  |  | 82,933 |  |  |  | 70,045 |  |  |  | 254,570 |
Other operating loss |  |  | (626 | ) |  |  | (1,032 | ) |  |  | (3,120 | ) |  |  | (5,548 | )
|  |  | 8,637 |  |  |  | 81,901 |  |  |  | 66,925 |  |  |  | 249,022 |
Corporate general and administrative expenses |  |  | (7,150 | ) |  |  | (9,411 | ) |  |  | (25,096 | ) |  |  | (30,686 | )
Corporate depreciation |  |  | (1,629 | ) |  |  | (834 | ) |  |  | (4,772 | ) |  |  | (2,486 | )
Corporate expenses |  |  | (8,779 | ) |  |  | (10,245 | ) |  |  | (29,868 | ) |  |  | (33,172 | )
Gain on asset dispositions, net |  |  | 5,883 |  |  |  | 4,699 |  |  |  | 19,345 |  |  |  | 13,092 |
Asset impairments (A) |  |  | (15,141 | ) |  |  | (6,236 | ) |  |  | (61,771 | ) |  |  | (8,096 | )
Goodwill impairment |  |  | — |  |  |  | (283,699 | ) |  |  | — |  |  |  | (283,699 | )
Restructuring charge (B) |  |  | — |  |  |  | — |  |  |  | (7,586 | ) |  |  | — |
Operating loss |  | $ | (9,400 | ) |  |  | (213,580 | ) |  |  | (12,955 | ) |  |  | (62,853 | )
Foreign exchange gain (loss) |  |  | (469 | ) |  |  | 4,334 |  |  |  | (3,758 | ) |  |  | 8,453 |
Equity in net earnings (losses) of unconsolidated companies |  |  | (1,710 | ) |  |  | — |  |  |  | (7,070 | ) |  |  | 9,104 |
Interest income and other, net |  |  | 609 |  |  |  | 434 |  |  |  | 1,754 |  |  |  | 1,555 |
Interest and other debt costs, net |  |  | (13,312 | ) |  |  | (12,239 | ) |  |  | (39,741 | ) |  |  | (37,927 | )
Loss before income taxes |  | $ | (24,282 | ) |  |  | (221,051 | ) |  |  | (61,770 | ) |  |  | (81,668 | )
Depreciation and amortization: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Americas |  | $ | 12,029 |  |  |  | 11,825 |  |  |  | 36,311 |  |  |  | 35,623 |
Asia/Pacific |  |  | 5,803 |  |  |  | 4,731 |  |  |  | 16,503 |  |  |  | 13,538 |
Middle East/North Africa |  |  | 6,992 |  |  |  | 7,016 |  |  |  | 21,103 |  |  |  | 20,383 |
Sub-Saharan Africa/Europe |  |  | 17,600 |  |  |  | 18,067 |  |  |  | 54,084 |  |  |  | 55,494 |
|  |  | 42,424 |  |  |  | 41,639 |  |  |  | 128,001 |  |  |  | 125,038 |
Other |  |  | 1,369 |  |  |  | 858 |  |  |  | 4,285 |  |  |  | 2,626 |
Corporate |  |  | 1,629 |  |  |  | 834 |  |  |  | 4,772 |  |  |  | 2,486 |
|  | $ | 45,422 |  |  |  | 43,331 |  |  |  | 137,058 |  |  |  | 130,150 |
Additions to properties and equipment: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Americas |  | $ | 2,064 |  |  |  | 32,421 |  |  |  | 44,118 |  |  |  | 64,057 |
Asia/Pacific |  |  | 360 |  |  |  | 44,983 |  |  |  | 2,069 |  |  |  | 68,193 |
Middle East/North Africa |  |  | 127 |  |  |  | 424 |  |  |  | 776 |  |  |  | 1,659 |
Sub-Saharan Africa/Europe |  |  | 460 |  |  |  | 823 |  |  |  | 1,827 |  |  |  | 14,736 |
|  |  | 3,011 |  |  |  | 78,651 |  |  |  | 48,790 |  |  |  | 148,645 |
Other |  |  | 26 |  |  |  | 10,206 |  |  |  | 113 |  |  |  | 18,931 |
Corporate (C) |  |  | 8,872 |  |  |  | 14,198 |  |  |  | 103,467 |  |  |  | 67,678 |
|  | $ | 11,909 |  |  |  | 103,055 |  |  |  | 152,370 |  |  |  | 235,254 |
(A) | Refer to Note (15) for additional information regarding asset impairment charges.
(B) | Refer to Note (14) for additional information regarding the restructuring charge.
(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.
Comparison of Total Assets | The following table provides a comparison of total assets at December 31, 2015 and March 31, 2015:
|  | December 31, |  |  | March 31, |
(In thousands) |  | 2015 |  |  | 2015 |
Total assets: |  |  |  |  |  |  |  |
Americas |  | $ | 1,132,305 |  |  |  | 1,016,133 |
Asia/Pacific |  |  | 515,380 |  |  |  | 506,265 |
Middle East/North Africa |  |  | 591,657 |  |  |  | 666,983 |
Sub-Saharan Africa/Europe |  |  | 1,871,941 |  |  |  | 2,064,010 |
|  |  | 4,111,283 |  |  |  | 4,253,391 |
Other |  |  | 45,789 |  |  |  | 49,554 |
|  |  | 4,157,072 |  |  |  | 4,302,945 |
Investments in, at equity, and advances to unconsolidated companies |  |  | 45,663 |  |  |  | 65,844 |
|  |  | 4,202,735 |  |  |  | 4,368,789 |
Corporate (A) |  |  | 277,780 |  |  |  | 387,373 |
|  | $ | 4,480,515 |  |  |  | 4,756,162 |
(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 December 31, 2015 and March 31, 2015, $150.1 million and $235.2 million, respectively, of vessel construction costs are included in Corporate.
Schedule of Segment Reporting Information, Revenue by Vessel Class | 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 and nine-month periods ended December 31, 2015 and 2014:
|  |  |  |  |  | Quarter Ended |  |  |  |  |  |  |  |  |  |  | Nine Months Ended |  |  |  |  |
Revenue by vessel class |  |  |  |  |  | December 31, |  |  |  |  |  |  |  |  |  |  | December 31, |  |  |  |  |
(In thousands) |  | 2015 |  |  | % |  |  | 2014 |  |  | % |  |  | 2015 |  |  | % |  |  | 2014 |  |  | % |
Americas fleet: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deepwater |  | $ | 49,792 |  |  |  | 23 | % |  |  | 94,298 |  |  |  | 25 | % |  |  | 191,720 |  |  |  | 25 | % |  |  | 267,983 |  |  |  | 23 | %
Towing-supply |  |  | 22,254 |  |  |  | 11 | % |  |  | 33,607 |  |  |  | 9 | % |  |  | 75,890 |  |  |  | 10 | % |  |  | 97,511 |  |  |  | 9 | %
Other |  |  | 3,917 |  |  |  | 2 | % |  |  | 6,649 |  |  |  | 2 | % |  |  | 11,735 |  |  |  | 1 | % |  |  | 23,056 |  |  |  | 2 | %
Total |  | $ | 75,963 |  |  |  | 36 | % |  |  | 134,554 |  |  |  | 36 | % |  |  | 279,345 |  |  |  | 36 | % |  |  | 388,550 |  |  |  | 34 | %
Asia/Pacific fleet: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deepwater |  | $ | 13,267 |  |  |  | 6 | % |  |  | 20,575 |  |  |  | 5 | % |  |  | 56,535 |  |  |  | 7 | % |  |  | 72,492 |  |  |  | 6 | %
Towing-supply |  |  | 5,877 |  |  |  | 3 | % |  |  | 13,487 |  |  |  | 4 | % |  |  | 22,719 |  |  |  | 3 | % |  |  | 45,862 |  |  |  | 4 | %
Other |  |  | — |  |  |  | — |  |  |  | 984 |  |  | <1% |  |  |  | — |  |  |  | — |  |  |  | 2,930 |  |  | <1% |
Total |  | $ | 19,144 |  |  |  | 9 | % |  |  | 35,046 |  |  |  | 9 | % |  |  | 79,254 |  |  |  | 10 | % |  |  | 121,284 |  |  |  | 10 | %
Middle East/North Africa fleet: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deepwater |  | $ | 17,690 |  |  |  | 9 | % |  |  | 25,615 |  |  |  | 7 | % |  |  | 58,845 |  |  |  | 8 | % |  |  | 64,336 |  |  |  | 6 | %
Towing-supply |  |  | 21,795 |  |  |  | 10 | % |  |  | 29,441 |  |  |  | 8 | % |  |  | 71,898 |  |  |  | 9 | % |  |  | 93,435 |  |  |  | 8 | %
Other |  |  | 699 |  |  | <1% |  |  |  | 869 |  |  | <1% |  |  |  | 2,043 |  |  | <1% |  |  |  | 2,530 |  |  | <1% |
Total |  | $ | 40,184 |  |  |  | 19 | % |  |  | 55,925 |  |  |  | 15 | % |  |  | 132,786 |  |  |  | 17 | % |  |  | 160,301 |  |  |  | 14 | %
Sub-Saharan Africa/Europe fleet: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deepwater |  | $ | 30,361 |  |  |  | 14 | % |  |  | 81,129 |  |  |  | 21 | % |  |  | 124,282 |  |  |  | 16 | % |  |  | 262,013 |  |  |  | 23 | %
Towing-supply |  |  | 35,186 |  |  |  | 16 | % |  |  | 52,532 |  |  |  | 14 | % |  |  | 118,490 |  |  |  | 15 | % |  |  | 162,585 |  |  |  | 14 | %
Other |  |  | 12,070 |  |  |  | 6 | % |  |  | 18,940 |  |  |  | 5 | % |  |  | 41,195 |  |  |  | 6 | % |  |  | 55,855 |  |  |  | 5 | %
Total |  | $ | 77,617 |  |  |  | 36 | % |  |  | 152,601 |  |  |  | 40 | % |  |  | 283,967 |  |  |  | 37 | % |  |  | 480,453 |  |  |  | 42 | %
Worldwide fleet: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deepwater |  | $ | 111,110 |  |  |  | 52 | % |  |  | 221,617 |  |  |  | 58 | % |  |  | 431,382 |  |  |  | 56 | % |  |  | 666,824 |  |  |  | 58 | %
Towing-supply |  |  | 85,112 |  |  |  | 40 | % |  |  | 129,067 |  |  |  | 35 | % |  |  | 288,997 |  |  |  | 37 | % |  |  | 399,393 |  |  |  | 35 | %
Other |  |  | 16,686 |  |  |  | 8 | % |  |  | 27,442 |  |  |  | 7 | % |  |  | 54,973 |  |  |  | 7 | % |  |  | 84,371 |  |  |  | 7 | %
Total |  | $ | 212,908 |  |  |  | 100 | % |  |  | 378,126 |  |  |  | 100 | % |  |  | 775,352 |  |  |  | 100 | % |  |  | 1,150,588 |  |  |  | 100 | %

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