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Note 13 - Segment and Geographic Distribution of Operations
 6 Months Ended
Jun. 30, 2021
Notes to Financial Statements  
Segment Reporting Disclosure [Text Block]

(13)

SEGMENT AND GEOGRAPHIC DISTRIBUTION OF OPERATIONS

 

The following table provides a comparison of segment revenues, vessel operating profit (loss), depreciation and amortization, and additions to properties and equipment for the three and six months ended June 30, 2021 and 2020. Vessel revenues relate to vessels owned and operated by us while other operating revenues relate to other miscellaneous marine-related businesses.

 

   

Three Months Ended

    

Six Months Ended

  

(In thousands)

  

June 30, 2021

    

June 30, 2020

    

June 30, 2021

    

June 30, 2020

  

Revenues:

                                

Vessel revenues:

                                

Americas

   $ 23,481     $ 34,044     $ 49,705     $ 65,903  

Middle East/Asia Pacific

     25,628       23,983       50,042       48,811  

Europe/Mediterranean

     22,467       20,620       37,216       50,111  

West Africa

     16,938       22,328       32,544       48,124  

Other operating revenues

     1,439       1,369       3,950       5,763  
    $ 89,953     $ 102,344     $ 173,457     $ 218,712  

Vessel operating profit (loss):

                                

Americas

   $ (4,940 )   $ 4,505     $ (6,591 )   $ 3,341  

Middle East/Asia Pacific

     266       599       (1,587 )     (257 )

Europe/Mediterranean

     (1,986 )     (1,750 )     (10,007 )     (203 )

West Africa

     (5,355 )     (3,984 )     (12,122 )     (8,847 )

Other operating profit

     858       1,198       2,302       2,919  
      (11,157 )     568       (28,005 )     (3,047 )

Corporate expenses

     (9,070 )     (8,910 )     (16,575 )     (18,952 )

Long-lived asset impairments

     —       (55,482 )     —       (65,689 )

Affiliate credit loss impairment (expense) credit

     1,000       (53,581 )     1,000       (53,581 )

Affiliate guarantee obligation

     —       (2,000 )     —       (2,000 )

Gain (loss) on asset dispositions, net

     (932 )     1,660       (2,880 )     6,991  

Operating loss

   $ (20,159 )   $ (117,745 )   $ (46,460 )   $ (136,278 )

Depreciation and amortization:

                                

Americas

   $ 7,382     $ 8,073     $ 15,389     $ 15,569  

Middle East/Asia Pacific

     6,521       5,645       13,401       11,172  

Europe/Mediterranean

     7,225       6,793       14,709       13,612  

West Africa

     6,580       6,750       13,150       13,154  

Corporate

     841       883       1,627       1,744  
    $ 28,549     $ 28,144     $ 58,276     $ 55,251  

Additions to properties and equipment:

                                

Middle East/Asia Pacific

   $ (50 )   $ 503       (42 )     1,183  

Europe/Mediterranean

     287       486       593       926  

West Africa

     59       (73 )     554       678  

Corporate

     369       710       756       1,288  
    $ 665     $ 1,626     $ 1,861     $ 4,075  

 

The following table provides a comparison of total assets at June 30, 2021 and  December 31, 2020:

 

   

June 30,

    

December 31,

  

(In thousands)

  

2021

    

2020

  

Total assets:

                

Americas

   $ 312,520     $ 338,649  

Middle East/Asia Pacific

     196,231       226,422  

Europe/Mediterranean

     287,808       302,214  

West Africa

     237,227       242,825  

Corporate

     117,947       141,067  
    $ 1,151,733     $ 1,251,177