XML 59 R46.htm IDEA: XBRL DOCUMENT v3.22.4
Major Customers and Segment Information (Tables)
12 Months Ended
Dec. 31, 2022
Segment Reporting [Abstract]  
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):

 

 

 

United States
(primarily Gulf
of Mexico)

 

 

Africa and Europe, Continuing Operations

 

 

Middle East
and Asia

 

 

Latin
America

 

 

Total

 

For the year ended December 31, 2022

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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.

 

 

 

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:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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.