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Summary of Significant Accounting Policies (Tables) | 12 Months Ended
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Dec. 31, 2012
Accounting Policies [Abstract] |
Supplemental Cash Flow Information |
|  | Year Ended December 31, |
|  | 2012 |  | 2011 |  | 2010 |
Interest paid, net of interest capitalized | $ | 68,735 | $ | 81,000 | $ | 68,534 |
Income taxes paid | $ | 43,111 | $ | 11,216 | $ | 10,071 |
Property, Plant and Equipment |
|  | Estimated Useful Life |  | 2012 |  | 2011 |
ROVs/Vessels |  | 10 to 30 years | $ | 1,822,642 | $ | 1,616,772 |
Machinery, equipment, buildings and leasehold improvements |  | 5 to 30 years |  | 229,154 |  | 198,240 |
Total property and equipment |  |  | $ | 2,051,796 | $ | 1,815,012 |
Schedule of Goodwill |
Balance at December 31, 2010 (1) | $ | 62,494 |
Other adjustments (2) |  | (279) |
Balance at December 31, 2011 |  | 62,215 |
Other adjustments (2) |  | 720 |
Balance at December 31, 2012 | $ | 62,935 |
(1) In 2010, we fully impaired $16.7 million of goodwill associated with our Australian well intervention subsidiary (“WOSEA”) (see below). (2) Reflects foreign currency adjustment for certain amounts of our goodwill.
Computations Of Basic And Diluted EPS |
|  | Year Ended December 31, |
|  | 2012 |  | 2011 |  | 2010 |
|  | Income |  | Shares |  | Income |  | Shares |  | Income |  | Shares |
Basic: |  |  |  |  |  |  |  |  |  |  |  |  |
Net income (loss) applicable to Helix common shareholders | $ | (46,334) |  |  | $ | 129,939 |  |  | $ | (127,102) |  |  |
Less: Undistributed net income allocable to participating securities |  | - |  |  |  | (1,599) |  |  |  | - |  |  |
Undistributed net income (loss) applicable to common shareholders |  | (46,334) |  |  |  | 128,340 |  |  |  | (127,102) |  |  |
Less: (Income) loss from discontinued operations, net of tax |  | (23,684) |  |  |  | (95,221) |  |  |  | 106,657 |  |  |
Add: Undistributed net income from discontinued operations allocable to participating securities |  | - |  |  |  | 1,172 |  |  |  | - |  |  |
Income (loss) from continuing operations applicable to Helix common shareholders | $ | (70,018) |  | 104,449 | $ | 34,291 |  | 104,528 | $ | (20,445) |  | 103,857 |
Diluted: |  |  |  |  |  |  |  |  |  |  |  |  |
Income (loss) from continuing operations applicable to Helix common shareholders - Basic | $ | (70,018) |  | 104,449 | $ | 34,291 |  | 104,528 | $ | (20,445) |  | 103,857 |
Effect of dilutive securities: |  |  |  |  |  |  |  |  |  |  |  |  |
Share-based awards other than participating securities |  | - |  | - |  | - |  | 64 |  | - |  | - |
Undistributed net income reallocated to participating securities |  | - |  | - |  | 2 |  | - |  | - |  | - |
Convertible preferred stock |  | - |  | - |  | 40 |  | 361 |  | - |  | - |
Income (loss) from continuing operations applicable to Helix common shareholders - Diluted |  | (70,018) |  |  |  | 34,333 |  |  |  | (20,445) |  |  |
Income (loss) from discontinued operations, net of tax |  | 23,684 |  |  |  | 95,221 |  |  |  | (106,657) |  |  |
Net income (loss) applicable to Helix common shareholders - Diluted | $ | (46,334) |  | 104,449 | $ | 129,554 |  | 104,953 | $ | (127,102) |  | 103,857 |
Excluded Securities On Diluted Shares Calculation |
|  | 2012 |  | 2010 |
Diluted shares (as reported) |  | 104,449 |  | 103,857 |
Share-based awards |  | 382 |  | 466 |
Convertible preferred stock |  | 334 |  | 1,015 |
Total |  | 105,165 |  | 105,338 |
Assets And Liabilities Measured At Fair Value On A Recurring Basis |
|  |  | Level 1 |  |  |  | Level 2 (1) |  |  |  | Level 3 |  |  |  | Total |  |  |  | Valuation Technique |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Oil contracts |  | $ | – |  |  | $ | 5,800 |  |  | $ | – |  |  | $ | 5,800 |  |  |  | (c) |
Foreign currency forwards |  |  | – |  |  |  | 146 |  |  |  | – |  |  |  | 146 |  |  |  | (c) |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Oil contracts |  |  | – |  |  |  | 15,777 |  |  |  | – |  |  |  | 15,777 |  |  |  | (c) |
Fair value of long-term debt (2) |  |  | 994,311 |  |  |  | 123,187 |  |  |  | – |  |  |  | 1,117,498 |  |  |  | (a) |
Interest rate swaps |  |  | – |  |  |  | 521 |  |  |  | – |  |  |  | 521 |  |  |  | (c) |
Total net liability |  | $ | 994,311 |  |  | $ | 133,539 |  |  | $ | – |  |  | $ | 1,127,850 |  |  |  |  |
(1) Unless otherwise indicated, the fair value of our Level 2 derivative instruments reflects our best estimate and is based upon exchange or over-the-counter quotations whenever they are available. Quoted valuations may not be available due to location differences or terms that extend beyond the period for which quotations are available. Where quotes are not available, we utilize other valuation techniques or models to estimate market values. These modeling techniques require us to make estimations of future prices, price correlation and market volatility and liquidity based on market data. Our actual results may differ from our estimates, and these differences could be positive or negative. (2) See Note 7 for additional information regarding our long-term debt. The fair value of our long-term debt at December 31, 2012 and 2011 is as follows:
Fair Value Of Long Term Debt |
|  | 2012 |  | 2011 |
|  | Carrying Value |  | Fair Value |  | Carrying Value |  | Fair Value |
Term Loans (mature July 2015) (a) | $ | 367,181 | $ | 368,295 | $ | 279,750 | $ | 279,750 |
Revolving Credit Facility (matures July 2015) (a) |  | 100,000 |  | 100,000 |  | - |  | - |
2025 Notes (mature December 2025) (b) |  | 3,487 |  | 3,487 |  | 300,000 |  | 300,543 |
2032 Notes (mature March 2032) (c) |  | 200,000 |  | 239,320 |  | - |  | - |
Senior Unsecured Notes (mature January 2016) |  | 274,960 |  | 283,209 |  | 474,960 |  | 501,083 |
MARAD Debt (matures February 2027) (d) |  | 105,288 |  | 123,187 |  | 110,166 |  | 124,488 |
Total debt | $ | 1,050,916 | $ | 1,117,498 | $ | 1,164,876 | $ | 1,205,864 |
(a) In February 2013, we repaid $293.9 million of our Term Loans and $24.5 million under our Revolving Credit Facility with the after-tax proceeds from the sale of ERT. (b) Carrying value excludes the related unamortized debt discount of $9.6 million at December 31, 2011. This remaining amount was repurchased by us in February 2013. (c) Carrying value excludes the related unamortized debt discount of $31.7 million at December 31, 2012. (d ) The estimated fair value of all debt, other than the MARAD debt, was determined using Level 1 inputs using the market approach. The fair value of the MARAD debt was determined using a third party evaluation of the remaining average life and outstanding principal balance of the MARAD indebtedness as compared to other governmental obligations in the marketplace with similar terms. The fair value of the MARAD Debt was estimated using Level 2 fair value inputs using the market approach.

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