(12)	SEGMENT AND GEOGRAPHIC DISTRIBUTION OF OPERATIONS

During the quarter ended March 31, 2018 the company’s Africa/Europe segment was split as a result of management realignment such that the company’s operations in Europe and Mediterranean Sea regions and the company’s West African regions are now separately reported segments. As such, the company now discloses these new segments as Europe/Mediterranean Sea and West Africa, respectively. The company’s Americas and Middle East/Asia Pacific segments are not affected by this change. This new segment alignment is consistent with how the company’s chief operating decision maker reviews operating results for the purposes of allocating resources and assessing performance. Prior year amounts have been recast to conform to the new segment alignment.

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.

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.

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	%