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Note 14 - Segment Information, Geographical Data and Major Customers
 12 Months Ended
Dec. 31, 2020
Notes to Financial Statements  
Segment Reporting Disclosure [Text Block]

(14)     SEGMENT INFORMATION, GEOGRAPHICAL DATA AND MAJOR CUSTOMERS

 

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.

 

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 our owned and operated vessels while other operating revenues relate to the activities of our other miscellaneous marine-related businesses.

 

  

Year Ended December 31,

 

(In thousands)

 

2020

  

2019

  

2018

 

Revenues:

            

Vessel revenues:

            

Americas

 $126,676   136,958   118,534 

Middle East/Asia Pacific

  97,133   90,321   80,195 

Europe/Mediterranean

  83,602   123,711   56,263 

West Africa

  78,763   126,025   142,214 
  $386,174   477,015   397,206 

Other operating revenues

  10,864   9,534   9,314 
  $397,038   486,549   406,520 

Vessel operating profit (loss):

            

Americas

 $4,944   (805)  8,860 

Middle East/Asia Pacific

  (5,935)  (6,044)  (4,417)

Europe/Mediterranean

  (8,629)  (1,289)  (9,359)

West Africa

  (27,508)  8,298   7,240 
  $(37,128)  160   2,324 

Other operating profit

  7,458   6,734   3,742 
   (29,670)  6,894   6,066 

Corporate expenses

 $(35,633)  (57,988)  (42,972)

Gain on asset dispositions, net

  7,591   2,263   10,624 
Affiliate credit loss impairment expense  (52,981)  —   — 
Affiliate guarantee obligation  (2,000)  —   — 

Impairment of due from affiliate

  —   —   (20,083)

Asset impairments and other

  (74,109)  (37,773)  (61,132)

Operating loss

 $(186,802)  (86,604)  (107,497)

Depreciation and amortization:

            

Americas

 $32,079   27,493   16,047 

Middle East/Asia Pacific

  24,244   21,440   11,871 

Europe/Mediterranean

  29,222   30,053   11,385 

West Africa

  27,787   21,166   16,612 

Corporate and other

  3,377   1,779   2,378 
  $116,709   101,931   58,293 

Additions to properties and equipment:

            

Americas

 $2,842   969   3,771 

Middle East/Asia Pacific

  2,629   5,237   2,982 

Europe/Mediterranean

  1,059   4,001   185 

West Africa

  6,028   2,721   10,135 

Corporate

  2,342   5,070   4,318 
  $14,900   17,998   21,391 

Total assets:

            

Americas

 $338,649   375,297   380,168 

Middle East/Asia Pacific

  226,422   270,413   233,611 

Europe/Mediterranean

  302,214   358,943   316,524 

West Africa

  242,825   376,087   483,234 

Investments in and advances to unconsolidated companies and other

  —   —   8,479 

Corporate

  141,067   198,788   405,723 
  $1,251,177   1,579,528   1,827,739 

 

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

 

  

Year Ended December 31,

 
  

2020

  

2019

  

2018

 

Chevron Corporation

  14.3%  13.0%  15.0%
Saudi Aramco  11.5%  *   * 

 

* Less than 10% of total revenues.