Schedule of Segment Reporting Information, by Segment |
The following tables summarize the operating results, capital expenditures and assets of the Company’s reportable segments for the periods indicated (in thousands):
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|
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United States (primarily Gulf of Mexico) |
|
|
Africa and Europe, Continuing Operations |
|
|
Middle East and Asia |
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|
Latin America |
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|
Total |
|
For the year ended December 31, 2022 |
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|
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|
|
|
|
|
|
|
Operating Revenues: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Time charter |
|
$ |
51,272 |
|
|
$ |
60,060 |
|
|
$ |
52,080 |
|
|
$ |
40,122 |
|
|
$ |
203,534 |
|
Bareboat charter |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
1,374 |
|
|
|
1,374 |
|
Other marine services |
|
|
9,528 |
|
|
|
(163 |
) |
|
|
762 |
|
|
|
2,290 |
|
|
|
12,417 |
|
|
|
|
60,800 |
|
|
|
59,897 |
|
|
|
52,842 |
|
|
|
43,786 |
|
|
|
217,325 |
|
Direct Costs and Expenses: |
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Personnel |
|
|
25,201 |
|
|
|
16,436 |
|
|
|
22,376 |
|
|
|
13,769 |
|
|
|
77,782 |
|
Repairs and maintenance |
|
|
7,049 |
|
|
|
9,229 |
|
|
|
8,111 |
|
|
|
7,107 |
|
|
|
31,496 |
|
Drydocking |
|
|
8,978 |
|
|
|
2,339 |
|
|
|
6,569 |
|
|
|
274 |
|
|
|
18,160 |
|
Insurance and loss reserves |
|
|
4,831 |
|
|
|
1,178 |
|
|
|
2,838 |
|
|
|
1,115 |
|
|
|
9,962 |
|
Fuel, lubes and supplies |
|
|
3,345 |
|
|
|
8,022 |
|
|
|
5,089 |
|
|
|
2,833 |
|
|
|
19,289 |
|
Other |
|
|
1,235 |
|
|
|
7,175 |
|
|
|
4,633 |
|
|
|
2,253 |
|
|
|
15,296 |
|
|
|
|
50,639 |
|
|
|
44,379 |
|
|
|
49,616 |
|
|
|
27,351 |
|
|
|
171,985 |
|
Direct Vessel Profit |
|
$ |
10,161 |
|
|
$ |
15,518 |
|
|
$ |
3,226 |
|
|
$ |
16,435 |
|
|
$ |
45,340 |
|
Other Costs and Expenses: |
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
Lease expense |
|
$ |
998 |
|
|
$ |
1,691 |
|
|
$ |
156 |
|
|
$ |
1,024 |
|
|
|
3,869 |
|
Administrative and general |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
40,911 |
|
Depreciation and amortization |
|
|
17,444 |
|
|
|
13,708 |
|
|
|
16,331 |
|
|
|
8,474 |
|
|
|
55,957 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
100,737 |
|
Gains on asset dispositions and impairments, net |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,398 |
|
Operating loss |
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
(53,999 |
) |
As of December 31, 2022 |
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|
|
|
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|
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|
Property and Equipment: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Historical cost |
|
$ |
232,740 |
|
|
$ |
285,303 |
|
|
$ |
286,745 |
|
|
$ |
162,895 |
|
|
$ |
967,683 |
|
Accumulated depreciation |
|
|
(101,503 |
) |
|
|
(92,030 |
) |
|
|
(89,444 |
) |
|
|
(27,801 |
) |
|
|
(310,778 |
) |
|
|
$ |
131,237 |
|
|
$ |
193,273 |
|
|
$ |
197,301 |
|
|
$ |
135,094 |
|
|
$ |
656,905 |
|
Total Assets(1) |
|
$ |
174,081 |
|
|
$ |
211,371 |
|
|
$ |
215,497 |
|
|
$ |
150,650 |
|
|
$ |
751,599 |
|
(1)Total assets exclude $64.0 million of corporate assets.
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
United States (primarily Gulf of Mexico) |
|
|
Africa and Europe, Continuing Operations |
|
|
Middle East and Asia |
|
|
Latin America |
|
|
Total |
|
For the year ended December 31, 2021 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating Revenues: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Time charter |
|
$ |
15,487 |
|
|
$ |
44,268 |
|
|
$ |
53,146 |
|
|
$ |
46,934 |
|
|
$ |
159,835 |
|
Bareboat charter |
|
|
1,549 |
|
|
|
— |
|
|
|
— |
|
|
|
2,484 |
|
|
|
4,033 |
|
Other |
|
|
3,607 |
|
|
|
(1,338 |
) |
|
|
526 |
|
|
|
4,278 |
|
|
|
7,073 |
|
|
|
|
20,643 |
|
|
|
42,930 |
|
|
|
53,672 |
|
|
|
53,696 |
|
|
|
170,941 |
|
Direct Costs and Expenses: |
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Personnel |
|
$ |
8,836 |
|
|
$ |
13,903 |
|
|
$ |
22,191 |
|
|
$ |
14,990 |
|
|
$ |
59,920 |
|
Repairs and maintenance |
|
|
3,394 |
|
|
|
6,772 |
|
|
|
6,701 |
|
|
|
7,250 |
|
|
|
24,117 |
|
Drydocking |
|
|
2,082 |
|
|
|
1,159 |
|
|
|
2,639 |
|
|
|
467 |
|
|
|
6,347 |
|
Insurance and loss reserves |
|
|
2,632 |
|
|
|
1,353 |
|
|
|
2,481 |
|
|
|
2,201 |
|
|
|
8,667 |
|
Fuel, lubes and supplies |
|
|
1,204 |
|
|
|
4,109 |
|
|
|
3,459 |
|
|
|
3,261 |
|
|
|
12,033 |
|
Other |
|
|
648 |
|
|
|
5,815 |
|
|
|
6,158 |
|
|
|
3,701 |
|
|
|
16,322 |
|
|
|
|
18,796 |
|
|
|
33,111 |
|
|
|
43,629 |
|
|
|
31,870 |
|
|
|
127,406 |
|
Direct Vessel Profit |
|
$ |
1,847 |
|
|
$ |
9,819 |
|
|
$ |
10,043 |
|
|
$ |
21,826 |
|
|
$ |
43,535 |
|
Other Costs and Expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Lease expense |
|
$ |
2,621 |
|
|
$ |
1,281 |
|
|
$ |
472 |
|
|
$ |
1,711 |
|
|
|
6,085 |
|
Administrative and general |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
37,639 |
|
Depreciation and amortization |
|
|
15,712 |
|
|
|
12,856 |
|
|
|
17,985 |
|
|
|
10,842 |
|
|
|
57,395 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
101,119 |
|
Gains on asset dispositions and impairments, net |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
20,436 |
|
Operating loss |
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
(37,148 |
) |
As of December 31, 2021 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Property and Equipment: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Historical cost |
|
$ |
240,717 |
|
|
$ |
218,544 |
|
|
$ |
340,225 |
|
|
$ |
208,594 |
|
|
$ |
1,008,080 |
|
Accumulated depreciation |
|
|
(115,088 |
) |
|
|
(69,310 |
) |
|
|
(85,683 |
) |
|
|
(32,247 |
) |
|
|
(302,328 |
) |
|
|
$ |
125,629 |
|
|
$ |
149,234 |
|
|
$ |
254,543 |
|
|
$ |
176,347 |
|
|
$ |
705,752 |
|
Total Assets(1) |
|
$ |
148,753 |
|
|
$ |
167,185 |
|
|
$ |
256,533 |
|
|
$ |
250,594 |
|
|
$ |
823,065 |
|
(1)Total assets exclude $89.4 million of corporate assets.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
United States (primarily Gulf of Mexico) |
|
|
Africa and Europe, Continuing Operations |
|
|
Middle East and Asia |
|
|
Latin America |
|
|
Total |
|
For the year ended December 31, 2020 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating Revenues: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Time charter |
|
$ |
9,873 |
|
|
$ |
47,723 |
|
|
$ |
52,052 |
|
|
$ |
23,806 |
|
|
$ |
133,454 |
|
Bareboat charter |
|
|
2,910 |
|
|
|
(55 |
) |
|
|
— |
|
|
|
— |
|
|
|
2,855 |
|
Other |
|
|
2,422 |
|
|
|
(135 |
) |
|
|
2,157 |
|
|
|
1,084 |
|
|
|
5,528 |
|
|
|
|
15,205 |
|
|
|
47,533 |
|
|
|
54,209 |
|
|
|
24,890 |
|
|
|
141,837 |
|
Direct Costs and Expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Personnel |
|
$ |
10,065 |
|
|
$ |
13,397 |
|
|
$ |
18,188 |
|
|
$ |
6,698 |
|
|
$ |
48,348 |
|
Repairs and maintenance |
|
|
1,655 |
|
|
|
5,643 |
|
|
|
5,232 |
|
|
|
2,131 |
|
|
|
14,661 |
|
Drydocking |
|
|
1,167 |
|
|
|
2,014 |
|
|
|
759 |
|
|
|
329 |
|
|
|
4,269 |
|
Insurance and loss reserves |
|
|
1,774 |
|
|
|
1,806 |
|
|
|
1,721 |
|
|
|
462 |
|
|
|
5,763 |
|
Fuel, lubes and supplies |
|
|
1,172 |
|
|
|
3,260 |
|
|
|
2,706 |
|
|
|
990 |
|
|
|
8,128 |
|
Other |
|
|
373 |
|
|
|
1,343 |
|
|
|
6,891 |
|
|
|
1,369 |
|
|
|
9,976 |
|
|
|
|
16,206 |
|
|
|
27,463 |
|
|
|
35,497 |
|
|
|
11,979 |
|
|
|
91,145 |
|
Direct Vessel (Loss) Profit |
|
$ |
(1,001 |
) |
|
$ |
20,070 |
|
|
$ |
18,712 |
|
|
$ |
12,911 |
|
|
$ |
50,692 |
|
Other Costs and Expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Lease expense |
|
$ |
4,272 |
|
|
$ |
3,038 |
|
|
$ |
170 |
|
|
$ |
45 |
|
|
|
7,525 |
|
Administrative and general |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
40,051 |
|
Depreciation and amortization |
|
|
21,427 |
|
|
|
13,664 |
|
|
|
16,595 |
|
|
|
5,481 |
|
|
|
57,167 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
104,743 |
|
Losses on asset dispositions and impairments, net |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(17,588 |
) |
Operating loss |
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
(71,639 |
) |
As of December 31, 2020 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Property and Equipment: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Historical cost |
|
$ |
257,592 |
|
|
$ |
262,998 |
|
|
$ |
361,514 |
|
|
$ |
130,769 |
|
|
$ |
1,012,873 |
|
Accumulated depreciation |
|
|
(134,391 |
) |
|
|
(68,486 |
) |
|
|
(75,349 |
) |
|
|
(13,312 |
) |
|
|
(291,538 |
) |
|
|
$ |
123,201 |
|
|
$ |
194,512 |
|
|
$ |
286,165 |
|
|
$ |
117,457 |
|
|
$ |
721,335 |
|
Total Assets(1) |
|
$ |
164,656 |
|
|
$ |
227,894 |
|
|
$ |
289,314 |
|
|
$ |
179,942 |
|
|
$ |
861,806 |
|
(1)Total assets exclude $105.6 million of corporate assets, and $50.2 million of discontinued operations.
|