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Note 13 - Segment and Geographic Distribution of Operations | 9 Months Ended
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Sep. 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 nine months ended September 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 |  |  | Nine Months Ended |
(In thousands) |  | September 30, 2021 |  |  | September 30, 2020 |  |  | September 30, 2021 |  |  | September 30, 2020 |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Vessel revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Americas |  | $ | 24,564 |  |  | $ | 28,705 |  |  | $ | 74,269 |  |  | $ | 94,608 |
Middle East/Asia Pacific |  |  | 25,633 |  |  |  | 23,280 |  |  |  | 75,675 |  |  |  | 72,091 |
Europe/Mediterranean |  |  | 21,197 |  |  |  | 17,716 |  |  |  | 58,413 |  |  |  | 67,827 |
West Africa |  |  | 20,240 |  |  |  | 15,694 |  |  |  | 52,784 |  |  |  | 63,818 |
Other operating revenues |  |  | 767 |  |  |  | 1,072 |  |  |  | 4,717 |  |  |  | 6,835 |
|  | $ | 92,401 |  |  | $ | 86,467 |  |  | $ | 265,858 |  |  | $ | 305,179 |
Vessel operating profit (loss): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Americas |  | $ | (1,770 | ) |  | $ | 107 |  |  | $ | (8,361 | ) |  | $ | 3,448 |
Middle East/Asia Pacific |  |  | (713 | ) |  |  | (2,222 | ) |  |  | (2,300 | ) |  |  | (2,479 | )
Europe/Mediterranean |  |  | (2,866 | ) |  |  | (3,883 | ) |  |  | (12,873 | ) |  |  | (4,086 | )
West Africa |  |  | (3,724 | ) |  |  | (10,168 | ) |  |  | (15,846 | ) |  |  | (19,015 | )
Other operating profit |  |  | 412 |  |  |  | 853 |  |  |  | 2,714 |  |  |  | 3,772 |
|  |  | (8,661 | ) |  |  | (15,313 | ) |  |  | (36,666 | ) |  |  | (18,360 | )
Corporate expenses |  |  | (10,662 | ) |  |  | (8,438 | ) |  |  | (27,237 | ) |  |  | (27,390 | )
Long-lived asset impairments |  |  | (2,167 | ) |  |  | (1,945 | ) |  |  | (2,167 | ) |  |  | (67,634 | )
Affiliate credit loss impairment (expense) credit |  |  | — |  |  |  | — |  |  |  | 1,000 |  |  |  | (53,581 | )
Affiliate guarantee obligation |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (2,000 | )
Gain (loss) on asset dispositions, net |  |  | (74 | ) |  |  | 520 |  |  |  | (2,954 | ) |  |  | 7,511 |
Operating loss |  | $ | (21,564 | ) |  | $ | (25,176 | ) |  | $ | (68,024 | ) |  | $ | (161,454 | )
Depreciation and amortization: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Americas |  | $ | 7,290 |  |  | $ | 8,076 |  |  | $ | 22,679 |  |  | $ | 23,645 |
Middle East/Asia Pacific |  |  | 6,370 |  |  |  | 6,332 |  |  |  | 19,771 |  |  |  | 17,504 |
Europe/Mediterranean |  |  | 6,834 |  |  |  | 8,248 |  |  |  | 21,543 |  |  |  | 21,860 |
West Africa |  |  | 6,609 |  |  |  | 7,330 |  |  |  | 19,759 |  |  |  | 20,484 |
Corporate |  |  | 877 |  |  |  | 791 |  |  |  | 2,504 |  |  |  | 2,535 |
|  | $ | 27,980 |  |  | $ | 30,777 |  |  | $ | 86,256 |  |  | $ | 86,028 |
Additions to properties and equipment: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Americas |  | $ | — |  |  | $ | (10 | ) |  | $ | — |  |  | $ | (10 | )
Middle East/Asia Pacific |  |  | — |  |  |  | 5 |  |  |  | (42 | ) |  |  | 1,188 |
Europe/Mediterranean |  |  | 146 |  |  |  | (13 | ) |  |  | 739 |  |  |  | 913 |
West Africa |  |  | 99 |  |  |  | (11 | ) |  |  | 653 |  |  |  | 667 |
Corporate |  |  | 477 |  |  |  | 636 |  |  |  | 1,233 |  |  |  | 1,924 |
|  | $ | 722 |  |  | $ | 607 |  |  | $ | 2,583 |  |  | $ | 4,682 |
The following table provides a comparison of total assets at September 30, 2021 and December 31, 2020:
(In thousands) |  | September 30, 2021 |  |  | December 31, 2020 |
Total assets: |  |  |  |  |  |  |  |
Americas |  | $ | 293,998 |  |  | $ | 338,649 |
Middle East/Asia Pacific |  |  | 184,580 |  |  |  | 226,422 |
Europe/Mediterranean |  |  | 289,123 |  |  |  | 302,214 |
West Africa |  |  | 235,249 |  |  |  | 242,825 |
Corporate |  |  | 120,123 |  |  |  | 141,067 |
|  | $ | 1,123,073 |  |  | $ | 1,251,177 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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