Subsidiary Guarantors (Tables)

12 Months Ended

Dec. 31, 2017

Condensed Financial Information Of Parent Company Only Disclosure [Abstract]

GREAT LAKES DREDGE & DOCK CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATING BALANCE SHEET
AS OF DECEMBER 31, 2017
(In thousands)

ASSETS	Subsidiary Guarantors		Non-Guarantor Subsidiaries			GLDD Corporation		Eliminations			Consolidated Totals
CURRENT ASSETS:
Cash and cash equivalents	$	15,794	$	38		$	20	$	—		$	15,852
Accounts receivable — net		75,431		102			—		—			75,533
Contract revenues in excess of billings		90,788		—			—		—			90,788
Inventories		34,600		—			—		—			34,600
Prepaid expenses		5,183		—			—		—			5,183
Other current assets		38,731		1,497			—		—			40,228
Total current assets		260,527		1,637			20		—			262,184

PROPERTY AND EQUIPMENT—Net		407,293		1			—		—			407,294
GOODWILL		83,576		—			—		—			83,576
OTHER INTANGIBLE ASSETS—Net		571		337			—		—			908
INVENTORIES — Noncurrent		54,023		—			—		—			54,023
INVESTMENTS IN JOINT VENTURES		2,555		159			—		—			2,714
ASSETS HELD FOR SALE— Noncurrent		8,530		—			—		—			8,530
RECEIVABLES FROM AFFILIATES		45,375		6,754			170,323		(222,452	)		—
INVESTMENTS IN SUBSIDIARIES		—		—			511,435		(511,435	)		—
OTHER		7,971		1			5,156		—			13,128
TOTAL	$	870,421	$	8,889		$	686,934	$	(733,887	)	$	832,357

LIABILITIES AND EQUITY
CURRENT LIABILITIES:
Accounts payable	$	87,379	$	280		$	—	$	—		$	87,659
Accrued expenses		50,382		1,312			4,524		—			56,218
Billings in excess of contract revenues		3,615		—			—		—			3,615
Current portion of long-term debt		1,546		—			1,212		—			2,758
Total current liabilities		142,922		1,592			5,736		—			150,250

LONG-TERM DEBT		—		—			333,141		—			333,141
REVOLVING CREDIT FACILITY		—		—			95,000		—			95,000
DEFERRED INCOME TAXES		—		—			25,561		—			25,561
PAYABLES TO AFFILIATES		161,979		54,442			6,031		(222,452	)		—
INVESTMENTS IN SUBSIDIARIES		41,358		—			—		(41,358	)		—
OTHER		6,940		—			169		—			7,109
Total liabilities		353,199		56,034			465,638		(263,810	)		611,061

TOTAL EQUITY		517,222		(47,145	)		221,296		(470,077	)		221,296
TOTAL	$	870,421	$	8,889		$	686,934	$	(733,887	)	$	832,357

GREAT LAKES DREDGE & DOCK CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATING BALANCE SHEET
AS OF DECEMBER 31, 2016
(In thousands)

ASSETS	Subsidiary Guarantors			Non-Guarantor Subsidiaries			GLDD Corporation		Eliminations			Consolidated Totals
CURRENT ASSETS:
Cash and cash equivalents	$	10,414		$	751		$	2	$	—		$	11,167
Accounts receivable — net		75,412			14,242			—		(1,563	)		88,091
Contract revenues in excess of billings		91,478			3,534			—		—			95,012
Inventories		37,137			—			—		—			37,137
Prepaid expenses		12,287			120			—		—			12,407
Other current assets		60,844			2,568			—		—			63,412
Total current assets		287,572			21,215			2		(1,563	)		307,226

PROPERTY AND EQUIPMENT—Net		407,516			5,492			—		—			413,008
GOODWILL		83,576			—			—		—			83,576
OTHER INTANGIBLE ASSETS—Net		1,067			432			—		—			1,499
INVENTORIES — Noncurrent		52,602			—			—		—			52,602
INVESTMENTS IN JOINT VENTURES		4,685			49			—		—			4,734
ASSETS HELD FOR SALE— Noncurrent		8,390			909			—		—			9,299
RECEIVABLES FROM AFFILIATES		58,284			16,807			82,340		(157,431	)		—
INVESTMENTS IN SUBSIDIARIES		—			—			636,216		(636,216	)		—
OTHER		14,692			1			6,951		—			21,644
TOTAL	$	918,384		$	44,905		$	725,509	$	(795,210	)	$	893,588

LIABILITIES AND EQUITY
CURRENT LIABILITIES:
Accounts payable	$	101,795		$	2,879		$	17	$	(1,506	)	$	103,185
Accrued expenses		55,940			3,222			9,881		—			69,043
Billings in excess of contract revenues		4,699			499			—		(57	)		5,141
Current portion of long term-debt		305			1,015			1,145		—			2,465
Total current liabilities		162,739			7,615			11,043		(1,563	)		179,834

LONG-TERM DEBT		—			—			286,291		—			286,291
REVOLVING CREDIT FACILITY		—			—			104,111		—			104,111
DEFERRED INCOME TAXES		(1,833	)		—			70,282		—			68,449
PAYABLES TO AFFILIATES		80,769			70,921			5,741		(157,431	)		—
INVESTMENTS IN SUBSIDIARIES		32,000			—			—		(32,000	)		—
OTHER		5,925			937			151		—			7,013
Total liabilities		279,600			79,473			477,619		(190,994	)		645,698

TOTAL EQUITY		638,784			(34,568	)		247,890		(604,216	)		247,890
TOTAL	$	918,384		$	44,905		$	725,509	$	(795,210	)	$	893,588

Condensed Consolidating Statement of Operations and Comprehensive Income (Loss)

GREAT LAKES DREDGE & DOCK CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE LOSS
FOR THE YEAR ENDED DECEMBER 31, 2017
(In thousands)

	Subsidiary Guarantors			Non-Guarantor Subsidiaries			GLDD Corporation			Eliminations			Consolidated Totals
Contract revenues	$	699,607		$	5,163		$	—		$	(2,267	)	$	702,503
Costs of contract revenues		(647,467	)		(7,420	)		—			2,267			(652,620	)
Gross profit		52,140			(2,257	)		—			—			49,883

OPERATING EXPENSES:
General and administrative expenses		67,175			1,156			—			—			68,331
Loss on sale of assets—net		4,801			276			—			—			5,077
Operating loss		(19,836	)		(3,689	)		—			—			(23,525	)

Interest income (expense)—net		1,054			(966	)		(26,134	)		—			(26,046	)
Equity in earnings (loss) of subsidiaries		38			—			(26,973	)		26,935			—
Equity in loss of joint ventures		(1,484	)		—			—			—			(1,484	)
Loss on extinguishment of debt		—			—			(2,330	)		—			(2,330	)
Other income (expense)		(1,240	)		452			—			—			(788	)
Loss from continuing operations before income taxes		(21,468	)		(4,203	)		(55,437	)		26,935			(54,173	)

Income tax (provision) benefit		(1,250	)		(14	)		36,874			—			35,610

Loss from continuing operations		(22,718	)		(4,217	)		(18,563	)		26,935			(18,563	)
Loss from discontinued operations, net of income taxes		(20,900	)		—			(12,697	)		20,900			(12,697	)

Net loss	$	(43,618	)	$	(4,217	)	$	(31,260	)	$	47,835		$	(31,260	)

Comprehensive loss	$	(42,429	)	$	(4,258	)	$	(30,112	)	$	46,687		$	(30,112	)

GREAT LAKES DREDGE & DOCK CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)
FOR THE YEAR ENDED DECEMBER 31, 2016
(In thousands)

	Subsidiary Guarantors			Non-Guarantor Subsidiaries			GLDD Corporation			Eliminations			Consolidated Totals
Contract revenues	$	726,239		$	44,086		$	—		$	(2,740	)	$	767,585
Costs of contract revenues		(622,158	)		(61,779	)		—			2,740			(681,197	)
Gross profit		104,081			(17,693	)		—			—			86,388

OPERATING EXPENSES:
General and administrative expenses		51,678			13,904			(49	)		—			65,533
Loss on sale of assets—net		3,040			3,135			—			—			6,175
Operating income (loss)		49,363			(34,732	)		49			—			14,680

Interest income (expense)—net		1,985			(1,497	)		(23,395	)		—			(22,907	)
Equity in earnings (loss) of subsidiaries		(31,488	)		—			10,313			21,175			—
Equity in loss of joint ventures		(2,365	)		—			—			—			(2,365	)
Other expense		(2,626	)		(751	)		—			—			(3,377	)
Income (loss) before income taxes		14,869			(36,980	)		(13,033	)		21,175			(13,969	)

Income tax (provision) benefit		1,080			(144	)		4,856			—			5,792

Net income (loss)	$	15,949		$	(37,124	)	$	(8,177	)	$	21,175		$	(8,177	)

Comprehensive income (loss)	$	16,279		$	(36,616	)	$	(7,339	)	$	20,337		$	(7,339	)

GREAT LAKES DREDGE & DOCK CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)
FOR THE YEAR ENDED DECEMBER 31, 2015
(In thousands)

	Subsidiary Guarantors			Non-Guarantor Subsidiaries			GLDD Corporation			Eliminations			Consolidated Totals
Contract revenues	$	778,337		$	86,666		$	—		$	(8,125	)	$	856,878
Costs of contract revenues		(670,973	)		(98,107	)		—			8,125			(760,955	)
Gross profit		107,364			(11,441	)		—			—			95,923

OPERATING EXPENSES:
General and administrative expenses		58,682			12,387			—			—			71,069
Impairment of goodwill		—			2,750			—			—			2,750
(Gain) loss on sale of assets—net		(885	)		30			—			—			(855	)
Operating income		49,567			(26,608	)		—			—			22,959

Interest income (expense)—net		872			(1,398	)		(23,839	)		—			(24,365	)
Equity in earnings of subsidiaries		34			—			16,282			(16,316	)		—
Equity in earnings (loss) of joint ventures		(6,221	)		170			—			—			(6,051	)
Other income (loss)		(3,180	)		1,951			—			—			(1,229	)
Income (loss) before income taxes		41,072			(25,885	)		(7,557	)		(16,316	)		(8,686	)

Income tax (provision) benefit		1,641			(512	)		1,368			—			2,497

Net income (loss)	$	42,713		$	(26,397	)	$	(6,189	)	$	(16,316	)	$	(6,189	)

Comprehensive income (loss)	$	42,713		$	(27,646	)	$	(7,438	)	$	(15,067	)	$	(7,438	)

Condensed Consolidating Statement of Cash Flows

GREAT LAKES DREDGE & DOCK CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED DECEMBER 31, 2017
(In thousands)

	Subsidiary Guarantors			Non-Guarantor Subsidiaries			GLDD Corporation			Eliminations			Consolidated Totals
OPERATING ACTIVITIES:
Net cash flows provided by operating activities of continuing operations	$	64,610		$	4,910		$	(27,102	)	$	—		$	42,418
Net cash flows used in operating activities of discontinued operations		(20,900	)		—			—			—			(20,900	)
Cash provided by (used in) operating activities		43,710			4,910			(27,102	)		—			21,518

INVESTING ACTIVITIES:
Purchases of property and equipment		(75,940	)		7,711			—			—			(68,229	)
Proceeds from dispositions of property and equipment		8,620			1,457			—			—			10,077
Changes in restricted cash		7,035			—			—			—			7,035
Net change in accounts with affiliates		3,732			—			(88,594	)		84,862			—
Transfer to parent		—			(9,615	)		81,184			(71,569	)		—
Cash used in investing activities		(56,553	)		(447	)		(7,410	)		13,293			(51,117	)

FINANCING ACTIVITIES:
Proceeds from issuance of debt		1,241			—			325,000						326,241
Repayments of debt		(1,602	)		—			(276,148	)		—			(277,750	)
7 3/8% senior notes tender premium		—			—			(744	)		—			(744	)
Deferred financing fees		—			—			(5,022	)		—			(5,022	)
Taxes paid on settlement of vested share awards		—			—			(328	)		—			(328	)
Net change in accounts with affiliates		90,153			(5,291	)		—			(84,862	)		—
Transfer to parent		(71,569	)		—			—			71,569			—
Exercise of stock options and purchases from employee stock plans		—			—			883			—			883
Borrowings under revolving loans		—			—			124,925			—			124,925
Repayments of revolving loans		—			—			(134,036	)		—			(134,036	)
Cash provided by (used in) financing activities		18,223			(5,291	)		34,530			(13,293	)		34,169

Effect of foreign currency exchange rates on cash and cash equivalents		—			115			—			—			115

Net increase (decrease) in cash and cash equivalents		5,380			(713	)		18			—			4,685

Cash and cash equivalents at beginning of period		10,414			751			2			—			11,167

Cash and cash equivalents at end of period	$	15,794		$	38		$	20		$	—		$	15,852

GREAT LAKES DREDGE & DOCK CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED DECEMBER 31, 2016
(In thousands)

	Subsidiary Guarantors			Non-Guarantor Subsidiaries			GLDD Corporation			Eliminations			Consolidated Totals
OPERATING ACTIVITIES:
Cash provided by (used in) operating activities	$	74,409		$	(16,677	)	$	(19,062	)	$	—		$	38,670

INVESTING ACTIVITIES:
Purchases of property and equipment		(83,777	)		(21	)		—			—			(83,798	)
Proceeds from dispositions of property and equipment		10,582			7,675			—			—			18,257
Changes in restricted cash		(7,035	)		—			—			—			(7,035	)
Net change in accounts with affiliates		(5,100	)		—			(36,172	)		41,272			—
Transfer to parent		—			—			23,000			(23,000	)		—
Cash provided by (used in) investing activities		(85,330	)		7,654			(13,172	)		18,272			(72,576	)

FINANCING ACTIVITIES:
Repayments of debt		(296	)		(1,128	)		(45,661	)		—			(47,085	)
Deferred financing fees		—			—			(6,817	)		—			(6,817	)
Taxes paid on settlement of vested share awards		—			—			(171	)		—			(171	)
Net change in accounts with affiliates		32,933			8,339			—			(41,272	)		—
Transfer to parent		(23,000	)		—			—			23,000			—
Exercise of stock options and purchases from employee stock plans		—			—			905			—			905
Excess income tax benefit from share-based compensation		—			—			(133	)		—			(133	)
Borrowings under revolving loans		—			—			288,611			—			288,611
Repayments of revolving loans		—			—			(204,500	)		—			(204,500	)
Cash provided by financing activities		9,637			7,211			32,234			(18,272	)		30,810

Effect of foreign currency exchange rates on cash and cash equivalents		—			79			—			—			79

Net decrease in cash and cash equivalents		(1,284	)		(1,733	)		—			—			(3,017	)

Cash and cash equivalents at beginning of period		11,698			2,484			2			—			14,184

Cash and cash equivalents at end of period	$	10,414		$	751		$	2		$	—		$	11,167

GREAT LAKES DREDGE & DOCK CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED DECEMBER 31, 2015
(In thousands)

	Subsidiary Guarantors			Non-Guarantor Subsidiaries			GLDD Corporation			Eliminations			Consolidated Totals
OPERATING ACTIVITIES:
Cash provided by (used in) operating activities		75,489			(22,679	)		(23,688	)		—			29,122

INVESTING ACTIVITIES:
Purchases of property and equipment		(70,759	)		(3,696	)		—			—			(74,455	)
Proceeds from dispositions of property and equipment		1,102			220			—			—			1,322
Net change in accounts with affiliates		(32,342	)		—			(12,222	)		44,564			—
Cash used in investing activities		(101,999	)		(3,476	)		(12,222	)		44,564			(73,133	)

FINANCING ACTIVITIES:
Proceeds from issuance of debt		—			—			3,050			—			3,050
Repayments of debt		(195	)		(1,006	)		(5,443	)		—			(6,644	)
Deferred financing fees		—			—			(111	)		—			(111	)
Taxes paid on settlement of vested share awards		—			—			(267	)		—			(267	)
Net change in accounts with affiliates		(23,491	)		31,991			36,064			(44,564	)		—
Transfer to parent		17,258			—			(17,258	)		—			—
Exercise of stock options and purchases from employee stock plans		—			—			1,365			—			1,365
Excess income tax benefit from share-based compensation		—			—			(57	)		—			(57	)
Purchase of treasury stock		—			—			(1,433	)		—			(1,433	)
Borrowings under revolving loans		—			—			179,500			—			179,500
Repayments of revolving loans		—			—			(159,500	)		—			(159,500	)
Cash provided by (used in) financing activities		(6,428	)		30,985			35,910			(44,564	)		15,903

Effect of foreign currency exchange rates on cash and cash equivalents		—			(97	)		—			—			(97	)

Net increase (decrease) in cash and cash equivalents		(32,938	)		4,733			—			—			(28,205	)

Cash and cash equivalents at beginning of period		44,636			(2,249	)		2			—			42,389

Cash and cash equivalents at end of period	$	11,698		$	2,484		$	2		$	—		$	14,184