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SEGMENT INFORMATION, GEOGRAPHICAL DATA AND MAJOR CUSTOMERS (Tables) | 9 Months Ended
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Dec. 31, 2017
Segment Reporting [Abstract] |
Segment Information, Geographical Data and Major Customers | The following table provides a comparison of revenues, vessel operating profit, depreciation and amortization, and additions to properties and equipment. 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.
|  | Successor |  |  |  | Predecessor |
|  | Period from |  |  |  | Period from |  |  |  |  |
|  | August 1, 2017 |  |  |  | April 1, 2017 |  |  |  |  |
|  | through |  |  |  | through |  |  | Year Ended |
(In thousands) |  | December 31, 2017 |  |  |  | July 31, 2017 |  |  | March 31, 2017 |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |
Vessel revenues: |  |  |  |  |  |  |  |  |  |  |  |  |
Americas |  | $ | 45,784 |  |  |  |  | 40,848 |  |  |  | 239,843 |
Middle East/Asia Pacific |  |  | 39,845 |  |  |  |  | 36,313 |  |  |  | 114,618 |
Africa/Europe |  |  | 86,255 |  |  |  |  | 69,436 |  |  |  | 229,355 |
|  |  | 171,884 |  |  |  |  | 146,597 |  |  |  | 583,816 |
Other operating revenues |  |  | 6,869 |  |  |  |  | 4,772 |  |  |  | 17,795 |
|  | $ | 178,753 |  |  |  |  | 151,369 |  |  |  | 601,611 |
Vessel operating profit (loss): |  |  |  |  |  |  |  |  |  |  |  |  |
Americas |  | $ | (1,599 | ) |  |  |  | (22,549 | ) |  |  | 18,873 |
Middle East/Asia Pacific |  |  | 451 |  |  |  |  | (1,434 | ) |  |  | (25,310 | )
Africa/Europe |  |  | 811 |  |  |  |  | (21,508 | ) |  |  | (51,395 | )
|  |  | (337 | ) |  |  |  | (45,491 | ) |  |  | (57,832 | )
Other operating profit (loss) |  |  | 1,614 |  |  |  |  | 876 |  |  |  | (1,548 | )
|  |  | 1,277 |  |  |  |  | (44,615 | ) |  |  | (59,380 | )
Corporate general and administrative expenses (A) |  |  | (14,823 | ) |  |  |  | (17,542 | ) |  |  | (55,389 | )
Corporate depreciation |  |  | (166 | ) |  |  |  | (704 | ) |  |  | (2,456 | )
Corporate expenses |  |  | (14,989 | ) |  |  |  | (18,246 | ) |  |  | (57,845 | )
Gain on asset dispositions, net |  |  | 6,616 |  |  |  |  | 3,561 |  |  |  | 24,099 |
Asset impairments |  |  | (16,777 | ) |  |  |  | (184,748 | ) |  |  | (484,727 | )
Operating loss |  |  | (23,873 | ) |  |  |  | (244,048 | ) |  |  | (577,853 | )
Foreign exchange loss |  |  | (407 | ) |  |  |  | (3,181 | ) |  |  | (1,638 | )
Equity in net earnings of unconsolidated companies |  |  | 2,130 |  |  |  |  | 4,786 |  |  |  | 5,710 |
Interest income and other, net |  |  | 2,771 |  |  |  |  | 2,384 |  |  |  | 5,193 |
Reorganization items |  |  | (4,299 | ) |  |  |  | (1,396,905 | ) |  |  | — |
Interest and other debt costs |  |  | (13,009 | ) |  |  |  | (11,179 | ) |  |  | (75,026 | )
Loss before income taxes |  | $ | (36,687 | ) |  |  |  | (1,648,143 | ) |  |  | (643,614 | )
Depreciation and amortization: |  |  |  |  |  |  |  |  |  |  |  |  |
Americas |  | $ | 5,767 |  |  |  |  | 13,945 |  |  |  | 48,814 |
Middle East/Asia Pacific |  |  | 4,716 |  |  |  |  | 9,967 |  |  |  | 40,849 |
Africa/Europe |  |  | 8,861 |  |  |  |  | 21,692 |  |  |  | 70,742 |
|  |  | 19,344 |  |  |  |  | 45,604 |  |  |  | 160,405 |
Other |  |  | 827 |  |  |  |  | 1,139 |  |  |  | 4,430 |
Corporate |  |  | 166 |  |  |  |  | 704 |  |  |  | 2,456 |
|  | $ | 20,337 |  |  |  |  | 47,447 |  |  |  | 167,291 |
Additions to properties and equipment: |  |  |  |  |  |  |  |  |  |  |  |  |
Americas |  | $ | 144 |  |  |  |  | 27 |  |  |  | 93 |
Middle East/Asia Pacific |  |  | 2,596 |  |  |  |  | 1,042 |  |  |  | 1,612 |
Africa/Europe |  |  | 195 |  |  |  |  | 375 |  |  |  | 743 |
|  |  | 2,935 |  |  |  |  | 1,444 |  |  |  | 2,448 |
Corporate |  |  | 6,899 |  |  |  |  | 821 |  |  |  | 28,099 |
|  | $ | 9,834 |  |  |  |  | 2,265 |  |  |  | 30,547 |
Total assets (B): |  |  |  |  |  |  |  |  |  |  |  |  |
Americas |  | $ | 164,958 |  |  |  |  | 714,891 |  |  |  | 779,778 |
Middle East/Asia Pacific |  |  | 48,268 |  |  |  |  | 424,896 |  |  |  | 583,385 |
Africa/Europe |  |  | 1,035,456 |  |  |  |  | 1,875,371 |  |  |  | 1,897,355 |
|  |  | 1,248,682 |  |  |  |  | 3,015,158 |  |  |  | 3,260,518 |
Other |  |  | 2,443 |  |  |  |  | 20,392 |  |  |  | 21,580 |
|  |  | 1,251,125 |  |  |  |  | 3,035,550 |  |  |  | 3,282,098 |
Investments in and advances to unconsolidated companies |  |  | 29,216 |  |  |  |  | 49,367 |  |  |  | 45,115 |
|  |  | 1,280,341 |  |  |  |  | 3,084,917 |  |  |  | 3,327,213 |
Corporate (C) |  |  | 465,839 |  |  |  |  | 799,752 |  |  |  | 863,486 |
|  | $ | 1,746,180 |  |  |  |  | 3,884,669 |  |  |  | 4,190,699 |
(A) | Restructuring-related professional services costs for the five month period from August 1, 2017 through December 31, 2017 are included in reorganization items. Included in corporate general and administrative expenses for the period four month period April 1, 2017 through July 31, 2017 (Predecessor) and year ended March 31, 2017 (Predecessor) were $6.7 million and $29 million of restructuring-related professional service costs, respectively.
(B) | 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.
(C) | Included in Corporate are vessels currently under construction which had 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 December 31, 2017 (Successor), July 31, 2017 (Predecessor) and March 31, 2017 (Predecessor), was $9.3 million, $47.5 million and $52.4 million, respectively, of vessel construction costs were 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:
|  | Successor |  |  |  | Predecessor |
|  | Period from |  |  |  | Period from |  |  |  |
|  | August 1, 2017 |  |  |  | April 1, 2017 |  |  |  |
|  | through |  |  |  | through |  |  | Year Ended |
|  | December 31, 2017 |  |  |  | July 31, 2017 |  |  | March 31, 2017 |
Revenue by vessel class: (In thousands): |  |  |  |  |  | % of Vessel Revenue |  |  |  |  |  |  |  | % of Vessel Revenue |  |  |  |  |  |  | % of Vessel Revenue |
Americas fleet: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deepwater |  | $ | 26,860 |  |  |  | 16 | % |  |  |  | 21,617 |  |  |  | 15 | % |  |  | 171,334 |  |  |  | 29 | %
Towing-supply |  |  | 13,835 |  |  |  | 8 | % |  |  |  | 15,021 |  |  |  | 10 | % |  |  | 56,561 |  |  |  | 10 | %
Other |  |  | 5,089 |  |  |  | 3 | % |  |  |  | 4,210 |  |  |  | 3 | % |  |  | 11,948 |  |  |  | 2 | %
Total |  | $ | 45,784 |  |  |  | 27 | % |  |  |  | 40,848 |  |  |  | 28 | % |  |  | 239,843 |  |  |  | 41 | %
Middle East/Asia Pacific fleet: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deepwater |  | $ | 14,792 |  |  |  | 9 | % |  |  |  | 13,368 |  |  |  | 9 | % |  |  | 35,526 |  |  |  | 6 | %
Towing-supply |  |  | 25,053 |  |  |  | 14 | % |  |  |  | 22,945 |  |  |  | 16 | % |  |  | 79,092 |  |  |  | 13 | %
Other |  |  | — |  |  |  | — |  |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Total |  | $ | 39,845 |  |  |  | 23 | % |  |  |  | 36,313 |  |  |  | 25 | % |  |  | 114,618 |  |  |  | 19 | %
Africa/Europe fleet: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deepwater |  | $ | 42,335 |  |  |  | 24 | % |  |  |  | 29,746 |  |  |  | 20 | % |  |  | 102,374 |  |  |  | 18 | %
Towing-supply |  |  | 35,497 |  |  |  | 21 | % |  |  |  | 35,143 |  |  |  | 24 | % |  |  | 102,732 |  |  |  | 18 | %
Other |  |  | 8,423 |  |  |  | 5 | % |  |  |  | 4,547 |  |  |  | 3 | % |  |  | 24,249 |  |  |  | 4 | %
Total |  | $ | 86,255 |  |  |  | 50 | % |  |  |  | 69,436 |  |  |  | 47 | % |  |  | 229,355 |  |  |  | 40 | %
Worldwide fleet: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deepwater |  | $ | 83,987 |  |  |  | 49 | % |  |  |  | 64,731 |  |  |  | 44 | % |  |  | 309,234 |  |  |  | 53 | %
Towing-supply |  |  | 74,385 |  |  |  | 43 | % |  |  |  | 73,109 |  |  |  | 50 | % |  |  | 238,385 |  |  |  | 41 | %
Other |  |  | 13,512 |  |  |  | 8 | % |  |  |  | 8,757 |  |  |  | 6 | % |  |  | 36,197 |  |  |  | 6 | %
Total |  | $ | 171,884 |  |  |  | 100 | % |  |  |  | 146,597 |  |  |  | 100 | % |  |  | 583,816 |  |  |  | 100 | %
Entity Wide Major Customer Amount | The following table discloses our customers that accounted for 10% or more of total revenues:
|  | Successor |  |  |  | Predecessor |
|  | Period from |  |  |  | Period from |  |  |  |  |
|  | August 1, 2017 |  |  |  | April 1, 2017 |  |  |  |  |
|  | through |  |  |  | through |  |  | Year Ended |
|  | December 31, 2017 |  |  |  | July 31, 2017 |  |  | March 31, 2017 |
Chevron Corporation |  |  | 17.4 | % |  |  |  | 17.5 | % |  |  | 16.3 | %
Freeport McMoRan (A) |  |  | — |  |  |  |  | — |  |  |  | 11.3 | %
Saudi Aramco |  |  | 10.1 | % |  |  |  | 11.7 | % |  |  | 10.0 | %
1. | A significant portion of this customer’s year ended March 31, 2017 revenue was the result of the early termination of a long-term vessel charter contract.

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