XML 37 R20.htm IDEA: XBRL DOCUMENT
v3.6.0.2

Business Segment Information | 12 Months Ended
--- | ---
Dec. 31, 2016
Segment Reporting [Abstract] |
Business Segment Information | Business Segment Information We have three reportable business segments: Well Intervention, Robotics and Production Facilities. Our U.S., U.K. and Brazil well intervention operating segments are aggregated into the Well Intervention business segment for financial reporting purposes. Our Well Intervention segment includes our vessels and equipment used to perform well intervention services primarily in the U.S. Gulf of Mexico, North Sea and Brazil. Our well intervention vessels include the Q4000, the Q5000, the Seawell, the Well Enhancer, and the chartered Skandi Constructor, Siem Helix 1 and Siem Helix 2 vessels. We previously owned the Helix 534, which we sold in December 2016 (Note 4). Our Well Intervention segment also includes IRSs, some of which we rent out on a stand-alone basis, and SILs. Our Robotics segment includes ROVs, trenchers and ROVDrills designed to complement offshore construction and well intervention services, and currently operates three chartered ROV support vessels. Our Production Facilities segment includes the HP I, the HFRS and our investment in Independence Hub that is accounted for under the equity method, and previously included our former ownership interest in Deepwater Gateway that we sold in February 2016 (Note 5). All material intercompany transactions between the segments have been eliminated. We evaluate our performance based on operating income and income before income taxes of each reportable segment. Certain financial data by reportable segment are summarized as follows (in thousands):
| Year Ended December 31,
| 2016 |  | 2015 |  | 2014
Net revenues — |  |  |  |  |
Well Intervention | $ | 294,000 |  |  | $ | 373,301 |  |  | $ | 667,849 |
Robotics | 160,580 |  |  | 301,026 |  |  | 420,224 |
Production Facilities | 72,358 |  |  | 75,948 |  |  | 93,175 |
Other | — |  |  | — |  |  | 358 |
Intercompany elimination | (39,356 | ) |  | (54,473 | ) |  | (74,450 | )
Total | $ | 487,582 |  |  | $ | 695,802 |  |  | $ | 1,107,156 |
Income (loss) from operations — |  |  |  |  |
Well Intervention (1) | $ | 14,910 |  |  | $ | (194,381 | ) |  | $ | 204,810 |
Robotics (2) | (72,250 | ) |  | 27,832 |  |  | 68,329 |
Production Facilities (3) | 33,861 |  |  | (106,847 | ) |  | 41,138 |
Corporate and other (4) | (39,384 | ) |  | (33,866 | ) |  | (51,600 | )
Intercompany elimination | (372 | ) |  | (98 | ) |  | (921 | )
Total | $ | (63,235 | ) |  | $ | (307,360 | ) |  | $ | 261,756 |
| Year Ended December 31,
| 2016 |  | 2015 |  | 2014
Net interest expense — |  |  |  |  |
Well Intervention | $ | (109 | ) |  | $ | (102 | ) |  | $ | (252 | )
Robotics | (25 | ) |  | 29 |  |  | (5 | )
Production Facilities | — |  |  | 385 |  |  | 384 |
Corporate and elimination | 31,373 |  |  | 26,602 |  |  | 17,732 |
Total | $ | 31,239 |  |  | $ | 26,914 |  |  | $ | 17,859 |
Equity in earnings (losses) of investments | $ | (2,166 | ) |  | $ | (124,345 | ) |  | $ | 879 |
Income (loss) before income taxes — |  |  |  |  |
Well Intervention (1) | $ | 18,813 |  |  | $ | (193,572 | ) |  | $ | 211,725 |
Robotics (2) (5) | (73,533 | ) |  | 2,454 |  |  | 61,025 |
Production Facilities (3) | 31,695 |  |  | (231,577 | ) |  | 41,633 |
Corporate and other and eliminations (4) (6) | (70,890 | ) |  | (55,475 | ) |  | (51,862 | )
Total | $ | (93,915 | ) |  | $ | (478,170 | ) |  | $ | 262,521 |
Income tax provision (benefit) — |  |  |  |  |
Well Intervention | $ | 12,531 |  |  | $ | (1,230 | ) |  | $ | 50,102 |
Robotics | (9,948 | ) |  | 515 |  |  | 21,612 |
Production Facilities | 11,093 |  |  | (81,052 | ) |  | 14,395 |
Corporate and other and eliminations | (26,146 | ) |  | (19,423 | ) |  | (19,138 | )
Total | $ | (12,470 | ) |  | $ | (101,190 | ) |  | $ | 66,971 |
Capital expenditures — |  |  |  |  |
Well Intervention | $ | 185,892 |  |  | $ | 307,879 |  |  | $ | 283,635 |
Robotics | 720 |  |  | 10,700 |  |  | 51,348 |
Production Facilities | 74 |  |  | 1,867 |  |  | 869 |
Corporate and other | (199 | ) |  | (135 | ) |  | 1,060 |
Total | $ | 186,487 |  |  | $ | 320,311 |  |  | $ | 336,912 |
Depreciation and amortization — |  |  |  |  |
Well Intervention | $ | 68,392 |  |  | $ | 66,095 |  |  | $ | 57,570 |
Robotics | 25,848 |  |  | 26,724 |  |  | 24,478 |
Production Facilities | 13,952 |  |  | 21,340 |  |  | 21,278 |
Corporate and eliminations | 5,995 |  |  | 6,242 |  |  | 6,019 |
Total | $ | 114,187 |  |  | $ | 120,401 |  |  | $ | 109,345 |
(1) | Amount in 2016 included a $1.3 million gain on the sale of the Helix 534 in December 2016. Amount in 2015 included impairment charges of $205.2 million for the Helix 534 and $6.3 million for certain capitalized vessel project costs and a $16.4 million goodwill impairment charge related to our U.K. well intervention reporting unit.
(2) | Amount in 2016 included a $45.1 million goodwill impairment charge related to our robotics reporting unit.
(3) | Amount in 2015 included a $133.4 million impairment charge for the HP I.
(4) | Amount in 2014 included a $10.5 million gain on the sale of our Ingleside spoolbase in January 2014.
(5) | Amount in 2015 included unrealized losses totaling $18.3 million on our foreign currency exchange contracts associated with the Grand Canyon, Grand Canyon II and Grand Canyon III chartered vessels.
(6) | Amount in 2014 included $16.9 million of income with $7.2 million from an insurance reimbursement related to asset retirement work previously performed and the remaining from our overriding royalty income.
Intercompany segment amounts are derived primarily from equipment and services provided to other business segments at rates consistent with those charged to third parties. Intercompany segment revenues are as follows (in thousands):
| Year Ended December 31,
| 2016 |  | 2015 |  | 2014
Well Intervention | $ | 8,442 |  |  | $ | 22,855 |  |  | $ | 29,875 |
Robotics | 30,914 |  |  | 31,618 |  |  | 44,575 |
Total | $ | 39,356 |  |  | $ | 54,473 |  |  | $ | 74,450 |
Revenues by individually significant region are as follows (in thousands):
| Year Ended December 31,
| 2016 |  | 2015 |  | 2014
United States | $ | 298,279 |  |  | $ | 298,391 |  |  | $ | 403,994 |
North Sea (1) | 137,313 |  |  | 263,438 |  |  | 504,016 |
Other | 51,990 |  |  | 133,973 |  |  | 199,146 |
Total | $ | 487,582 |  |  | $ | 695,802 |  |  | $ | 1,107,156 |
(1) | Includes revenues of $123.6 million, $187.7 million and $362.7 million, respectively, which were from the U.K.
Our assets related to operations, primarily our vessels, operate throughout the year in various regions around the world such as the U.S. Gulf of Mexico, North Sea, Asia Pacific and West Africa. The following table provides our property and equipment, net of accumulated depreciation, by individually significant geographic location of our assets (in thousands):
| December 31,
| 2016 |  | 2015
United States | $ | 956,458 |  |  | $ | 1,024,691 |
United Kingdom | 299,699 |  |  | 352,740 |
Singapore (1) | 194,649 |  |  | 112,313 |
Other | 200,804 |  |  | 113,265 |
Total | $ | 1,651,610 |  |  | $ | 1,603,009 |
(1) | Primarily includes the Q7000 vessel under construction.
Segment assets are comprised of all assets attributable to each reportable segment. Corporate and other includes all assets not directly identifiable with our business segments, most notably the majority of our cash and cash equivalents. The following table reflects total assets by reportable segment (in thousands):
| December 31,
| 2016 |  | 2015
Well Intervention | $ | 1,596,517 |  |  | $ | 1,484,109 |
Robotics | 186,901 |  |  | 274,926 |
Production Facilities | 158,192 |  |  | 182,007 |
Corporate and other | 305,331 |  |  | 458,917 |
Total | $ | 2,246,941 |  |  | $ | 2,399,959 |

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8981-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e9038-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8971-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8595-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8380-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8984-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e9031-108599 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e9054-108599 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8538-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8864-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8924-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8906-108599 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration