(17) 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.

Amounts in these financial statements have been recast from the original financial statements included in the company’s Transition Report on Form 10-KT filed on March 15, 2018 to provide comparative information which conforms with the company’s current segment alignment. During calendar year 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 Africa 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 also been recast to conform to the new segment alignment.

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
(In thousands)	Period from August 1, 2017 through December 31, 2017			Period from April 1, 2017 through July 31, 2017			Year Ended March 31, 2017
Revenues:
Vessel revenues:
Americas	$	45,784			40,848			239,843
Middle East/Asia Pacific		39,845			36,313			114,618
Europe/Mediterranean Sea		19,895			15,466			42,667
West Africa		66,360			53,970			186,688

		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	)
Europe/Mediterranean Sea		(1,497	)		(12,680	)		(26,733	)
West Africa		2,308			(8,828	)		(24,662	)

		(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
Europe/Mediterranean Sea		2,794			9,060			26,538
West Africa		6,067			12,632			44,204

		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
Europe/Mediterranean Sea		—			—			—
West Africa		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
Europe/Mediterranean Sea		171,157			597,819			588,519
West Africa		864,299			1,277,552			1,308,836

		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.

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 August 1, 2017 through December 31, 2017					Period from April 1, 2017 through July 31, 2017					Year Ended 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	%
Europe/Mediterranean Sea fleet:
Deepwater	$	18,204		10	%		11,620		8	%		39,492		7	%
Towing-supply		1,691		1	%		3,846		3	%		2,659		1	%
Other		—		—			—		—			516		<1	%
Total	$	19,895		11	%		15,466		11	%		42,667		8	%
West Africa fleet:
Deepwater	$	24,131		13	%		18,126		12	%		62,882		11	%
Towing-supply		33,806		20	%		31,297		21	%		100,073		17	%
Other		8,423		5	%		4,547		3	%		23,733		4	%
Total	$	66,360		39	%		53,970		36	%		186,688		32	%
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	%

The following table discloses our customers that accounted for 10% or more of total revenues:


	Successor			Predecessor
	Period from August 1, 2017 through December 31, 2017			Period from April 1, 2017 through July 31, 2017			Year Ended March 31, 2017
Chevron Corporation		17.4	%		17.5	%		16.3	%
Freeport McMoRan (A)		—			—			11.3	%
Saudi Aramco		10.1	%		11.7	%		10.0	%

(A)	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.