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Note 13 - Segment Information, Geographic Data and Major Customers
 12 Months Ended
Dec. 31, 2021
Notes to Financial Statements  
Segment Reporting Disclosure [Text Block]

(13)     SEGMENT INFORMATION, GEOGRAPHICAL DATA AND MAJOR CUSTOMERS

 

The following table provides a comparison of revenues, vessel operating profit (loss), depreciation and amortization, additions to properties and equipment and assets by segment and in total. Vessel operating profit (loss) is calculated as vessel revenues less vessel operating costs, segment depreciation expenses, and segment general and administrative costs. 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.

 

(In Thousands)

  

Year Ended December 31,

  
    2021     2020     2019  

Revenues:

                        

Vessel revenues:

                        

Americas

   $ 102,151     $ 126,676     $ 136,958  

Middle East/Asia Pacific

     102,537       97,133       90,321  

Europe/Mediterranean

     80,914       83,602       123,711  

West Africa

     75,967       78,763       126,025  

Total vessel revenues

     361,569       386,174       477,015  

Other operating revenues

     9,464       10,864       9,534  

Total revenues

     371,033       397,038       486,549  

Vessel operating profit (loss):

                        

Americas

     (11,270 )     4,944       (805 )

Middle East/Asia Pacific

     (1,174 )     (5,935 )     (6,044 )

Europe/Mediterranean

     (16,968 )     (8,629 )     (1,289 )

West Africa

     (16,985 )     (27,508 )     8,298  

Total vessel operating profit (loss)

     (46,397 )     (37,128 )     160  

Other operating profit

     7,233       7,458       6,734  
      (39,164 )     (29,670 )     6,894  

Corporate expenses

     (36,908 )     (35,633 )     (57,988 )

Gain (loss) on asset dispositions, net

     (2,901 )     7,591       2,263  

Affiliate credit loss impairment expense

     (400 )     (52,981 )     —  

Affiliate guarantee obligation

     —       (2,000 )     —  

Asset impairments and other

     (15,643 )     (74,109 )     (37,773 )

Operating loss

   $ (95,016 )   $ (186,802 )   $ (86,604 )

Depreciation and amortization:

                        

Americas

   $ 30,856     $ 32,079     $ 27,493  

Middle East/Asia Pacific

     25,992       24,244       21,440  

Europe/Mediterranean

     28,163       29,222       30,053  

West Africa

     26,196       27,787       21,166  

Corporate and other

     3,337       3,377       1,779  

Total depreciation and amortization

   $ 114,544     $ 116,709     $ 101,931  

Additions to properties and equipment:

                        

Americas

   $ —     $ 2,842     $ 969  

Middle East/Asia Pacific

     (42 )     2,629       5,237  

Europe/Mediterranean

     764       1,059       4,001  

West Africa

     6,341       6,028       2,721  

Corporate

     1,888       2,342       5,070  

Total additions to properties and equipment

   $ 8,951     $ 14,900     $ 17,998  

Total assets:

                        

Americas

   $ 278,394     $ 338,649     $ 375,297  

Middle East/Asia Pacific

     183,287       226,422       270,413  

Europe/Mediterranean

     293,760       302,214       358,943  

West Africa

     223,988       242,825       376,087  

Corporate

     116,351       141,067       198,788  

Total assets

   $ 1,095,780     $ 1,251,177     $ 1,579,528  

 

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

 

   

Year Ended December 31,

  
   

2021

    

2020

    

2019

  

Chevron Corporation

     15.7 %     14.3 %     13.0 %

Saudi Aramco

     11.8 %     11.5 %     *  

 

* Less than 10% of total revenues.