SEGMENT REPORTING (Tables)

9 Months Ended

Sep. 30, 2014

Segment Reporting [Abstract]

Information about Operations in Different Segments

Summarized financial information is shown in the following tables:

	Three Months Ended September 30,						Nine Months Ended September 30,
	2014			2013			2014			2013
	(In thousands)
Revenues(1):
Asia Pacific	$	205,427		$	190,231		$	481,234		$	746,122
Middle East		92,168			379,754			588,822			943,863
Americas		117,000			116,871			424,433			451,609
Total revenues	$	414,595		$	686,856		$	1,494,489		$	2,141,594
Operating income (loss)(2):
Asia Pacific	$	19,626		$	(37,663	)	$	26,151		$	17,894
Middle East		(23,606	)		17,399			(20,170	)		(69,600	)
Americas		(8,265	)		(32,390	)		(28,951	)		(97,451	)
Corporate		(1,898	)		-			(4,723	)		-
Total operating income (loss)	$	(14,143	)	$	(52,654	)	$	(27,693	)	$	(149,157	)
Capital expenditures(3):
Asia Pacific	$	5,316		$	42,568		$	83,613		$	87,753
Middle East		47,408			25,516			78,107			63,459
Americas		6,967			4,023			46,504			60,336
Corporate and Other		1,878			8,815			8,302			13,849
Total capital expenditures	$	61,569		$	80,922		$	216,526		$	225,397
Depreciation and amortization:
Asia Pacific	$	5,061		$	4,667		$	15,048		$	14,204
Middle East		7,263			8,293			24,815			22,319
Americas		7,869			5,999			23,201			17,985
Corporate and Other		2,215			1,837			5,591			5,606
Total depreciation and amortization:	$	22,408		$	20,796		$	68,655		$	60,114
Drydock amortization
Asia Pacific	$	1,938		$	1,927		$	5,462		$	6,976
Middle East		501			520			1,398			1,586
Americas		3,162			1,801			8,707			5,617
Total drydock amortization	$	5,601		$	4,248		$	15,567		$	14,179

· Intersegment transactions included in revenues were not significant for either of the periods presented.

· Operating income (loss) includes gain on sale of assets and improvement on cancellation cost estimate as discussed in Note 2—Acquisition and Dispositions—Non-Core Asset Sales.

· Total capital expenditures reflects expenditures for which cash payments were made during the period. Capital expenditures for the nine months ended September 30, 2014 include $18.6 million of cash payments for accrued capital expenditures outstanding as of December 31, 2013. Capital expenditures for the nine months ended September 30, 2013 exclude approximately $38.1 million in accrued liabilities related to capital expenditures.

Information about Segment Assets by Country

	September 30, 2014		December 31, 2013
	(in thousands)
Segment assets:
Asia Pacific	$	777,686	$	1,030,823
Middle East		1,066,934		1,129,529
Americas		778,713		522,713
Corporate and Other		903,983		124,306
Total assets	$	3,527,316	$	2,807,371