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SEGMENT AND GEOGRAPHIC DISTRIBUTION OF OPERATIONS (Tables) | 3 Months Ended
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Mar. 31, 2018
Segment Reporting [Abstract] |
Segment Information, Geographical Data and Major Customers | The following table provides a comparison of segment revenues, vessel operating profit (loss), depreciation and amortization, and additions to properties and equipment for the quarters ended March 31, 2018 and 2017. Vessel revenues and operating costs relate to vessels owned and operated by the company while other operating revenues relate to brokered vessels and other miscellaneous marine-related businesses.
|  | Successor |  |  |  | Predecessor |
|  | Quarter Ended |  |  |  | Quarter Ended |
|  | March 31, |  |  |  | March 31, |
(In thousands) |  | 2018 |  |  |  | 2017 |
Revenues: |  |  |  |  |  |  |  |  |
Vessel revenues: |  |  |  |  |  |  |  |  |
Americas |  | $ | 26,081 |  |  |  |  | 80,533 |
Middle East/Asia Pacific |  |  | 18,388 |  |  |  |  | 26,678 |
Europe/Mediterranean Sea |  |  | 9,623 |  |  |  |  | 10,166 |
West Africa |  |  | 33,402 |  |  |  |  | 39,528 |
|  |  | 87,494 |  |  |  |  | 156,905 |
Other operating revenues (A) |  |  | 3,999 |  |  |  |  | 3,844 |
|  | $ | 91,493 |  |  |  |  | 160,749 |
Vessel operating profit (loss): |  |  |  |  |  |  |  |  |
Americas |  | $ | 4,911 |  |  |  |  | 30,618 |
Middle East/Asia Pacific |  |  | (2,253 | ) |  |  |  | (6,164 | )
Europe/Mediterranean Sea |  |  | (3,554 | ) |  |  |  | (7,102 | )
West Africa |  |  | (1,753 | ) |  |  |  | (5,353 | )
|  |  | (2,649 | ) |  |  |  | 11,999 |
Other operating profit (loss) |  |  | 1,506 |  |  |  |  | (225 | )
|  |  | (1,143 | ) |  |  |  | 11,774 |
Corporate general and administrative expenses |  |  | (6,684 | ) |  |  |  | (21,757 | )
Corporate depreciation |  |  | (100 | ) |  |  |  | (564 | )
Corporate expenses |  |  | (6,784 | ) |  |  |  | (22,321 | )
Gain on asset dispositions, net |  |  | 1,919 |  |  |  |  | 6,064 |
Asset impairments (B) |  |  | (6,186 | ) |  |  |  | (64,857 | )
Operating loss |  | $ | (12,194 | ) |  |  |  | (69,340 | )
Foreign exchange gain (loss) |  |  | (348 | ) |  |  |  | 664 |
Equity in net earnings (losses) of unconsolidated companies |  |  | (15,439 | ) |  |  |  | 2,841 |
Interest income and other, net |  |  | (128 | ) |  |  |  | 1,588 |
Interest and other debt costs, net |  |  | (7,599 | ) |  |  |  | (21,008 | )
Loss before income taxes |  | $ | (35,708 | ) |  |  |  | (85,255 | )
Depreciation and amortization: |  |  |  |  |  |  |  |  |
Americas |  | $ | 3,313 |  |  |  |  | 11,297 |
Middle East/Asia Pacific |  |  | 2,769 |  |  |  |  | 8,499 |
Europe/Mediterranean Sea |  |  | 1,804 |  |  |  |  | 6,561 |
West Africa |  |  | 4,026 |  |  |  |  | 9,816 |
|  |  | 11,912 |  |  |  |  | 36,173 |
Other |  |  | 5 |  |  |  |  | 855 |
Corporate |  |  | 100 |  |  |  |  | 564 |
|  | $ | 12,017 |  |  |  |  | 37,592 |
Additions to properties and equipment: |  |  |  |  |  |  |  |  |
Americas |  | $ | 1,037 |  |  |  |  | — |
Middle East/Asia Pacific |  |  | 423 |  |  |  |  | 1,025 |
Europe/Mediterranean Sea |  |  | — |  |  |  |  | — |
West Africa |  |  | 1 |  |  |  |  | 94 |
|  |  | 1,461 |  |  |  |  | 1,119 |
Other |  |  | — |  |  |  |  | — |
Corporate (C) |  |  | 217 |  |  |  |  | 6,954 |
|  | $ | 1,678 |  |  |  |  | 8,073 |
| (A) | Included in other operating revenues for the quarter ended March 31, 2017, were $0.3 million of revenues related to the company’s subsea business. The eight ROVs representing substantially all of the company’s subsea assets were sold in December 2017.
| (B) | Refer to Note (13) for additional information regarding asset impairment charges.
| (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 March 31, 2018 and December 31, 2017:
|  | March 31, |  |  | December 31, |
(In thousands) |  | 2018 |  |  | 2017 |
Total assets: |  |  |  |  |  |  |  |
Americas |  | $ | 172,536 |  |  |  | 164,958 |
Middle East/Asia Pacific |  |  | 21,977 |  |  |  | 48,268 |
Europe/Mediterranean Sea |  |  | 170,420 |  |  |  | 171,157 |
West Africa |  |  | 858,776 |  |  |  | 864,299 |
|  |  | 1,223,709 |  |  |  | 1,248,682 |
Other |  |  | 465 |  |  |  | 2,443 |
|  |  | 1,224,174 |  |  |  | 1,251,125 |
Investments in, at equity, and advances to unconsolidated companies |  |  | 13,503 |  |  |  | 29,216 |
|  |  | 1,237,677 |  |  |  | 1,280,341 |
Corporate (A) |  |  | 448,371 |  |  |  | 465,839 |
|  | $ | 1,686,048 |  |  |  | 1,746,180 |
(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 vessel is assigned to a non-corporate reporting segment or the date it is delivered. At March 31, 2018 and December 31, 2017, $9.5 million and $9.3 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 ended March 31, 2018 (Successor) and March 31, 2017 (Predecessor):
|  | Successor |  |  |  | Predecessor |
|  | Quarter Ended |  |  |  | Quarter Ended |
|  | March 31, 2018 |  |  |  | March 31, 2017 |
Vessel revenue by vessel class (In thousands) |  |  |  |  |  | % of Vessel Revenue |  |  |  |  |  |  |  | % of Vessel Revenue |
Americas fleet: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deepwater |  | $ | 16,205 |  |  |  | 19 | % |  |  |  | 62,831 |  |  |  | 40 | %
Towing-supply |  |  | 6,846 |  |  |  | 8 | % |  |  |  | 14,738 |  |  |  | 9 | %
Other |  |  | 3,030 |  |  |  | 3 | % |  |  |  | 2,964 |  |  |  | 2 | %
Total |  | $ | 26,081 |  |  |  | 30 | % |  |  |  | 80,533 |  |  |  | 51 | %
Middle East/Asia Pacific fleet: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deepwater |  | $ | 9,564 |  |  |  | 11 | % |  |  |  | 9,433 |  |  |  | 6 | %
Towing-supply |  |  | 8,824 |  |  |  | 10 | % |  |  |  | 17,245 |  |  |  | 11 | %
Other |  |  | — |  |  |  | — |  |  |  |  | — |  |  |  | — |
Total |  | $ | 18,388 |  |  |  | 21 | % |  |  |  | 26,678 |  |  |  | 17 | %
Europe/Mediterranean Sea fleet: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deepwater |  | $ | 9,020 |  |  |  | 10 | % |  |  |  | 9,853 |  |  |  | 7 | %
Towing-supply |  |  | 603 |  |  |  | 1 | % |  |  |  | 322 |  |  |  | <1 | %
Other |  |  | — |  |  |  | — |  |  |  |  | (9 | ) |  |  | (<1 | %)
Total |  | $ | 9,623 |  |  |  | 11 | % |  |  |  | 10,166 |  |  |  | 7 | %
West Africa fleet: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deepwater |  | $ | 13,938 |  |  |  | 16 | % |  |  |  | 13,179 |  |  |  | 8 | %
Towing-supply |  |  | 16,139 |  |  |  | 18 | % |  |  |  | 22,472 |  |  |  | 15 | %
Other |  |  | 3,325 |  |  |  | 4 | % |  |  |  | 3,877 |  |  |  | 2 | %
Total |  | $ | 33,402 |  |  |  | 38 | % |  |  |  | 39,528 |  |  |  | 25 | %
Worldwide fleet: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deepwater |  | $ | 48,727 |  |  |  | 56 | % |  |  |  | 95,296 |  |  |  | 61 | %
Towing-supply |  |  | 32,412 |  |  |  | 37 | % |  |  |  | 54,777 |  |  |  | 35 | %
Other |  |  | 6,355 |  |  |  | 7 | % |  |  |  | 6,832 |  |  |  | 4 | %
Total |  | $ | 87,494 |  |  |  | 100 | % |  |  |  | 156,905 |  |  |  | 100 | %

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