SEGMENT REPORTING (Tables)

12 Months Ended

Dec. 31, 2014

Information about Operations in Different Segments

1. Information about Operations:

	Year Ended December 31,
	2014			2013			2012
	(In thousands)
Revenues:
Asia Pacific	$	937,615		$	953,838		$	1,575,682
Middle East		798,860			1,170,663			1,591,881
Americas		564,414			534,431			474,061
Total revenues⁽¹⁾:	$	2,300,889		$	2,658,932		$	3,641,624

Operating income (loss):
Asia Pacific	$	55,412		$	(72,159	)	$	236,874
Middle East		(7,634	)		(209,080	)		138,733
Americas		(30,282	)		(175,506	)		(68,468	)
Corporate		(8,942	)		—			—
Total operating income (loss)	$	8,554		$	(456,745	)	$	307,139

Capital expenditures:
Asia Pacific	$	154,735		$	117,060		$	219,920
Middle East		101,553			127,918			29,736
Americas		51,852			21,757			32,699
Corporate and Other		13,047			17,227			3,955
Total capital expenditures⁽²⁾:	$	321,187		$	283,962		$	286,310

Depreciation and amortization:
Asia Pacific	$	19,020		$	18,693		$	23,797
Middle East		32,146			31,813			31,119
Americas		34,224			26,674			24,589
Corporate and Other		7,795			7,400			6,935
Total depreciation and amortization:	$	93,185		$	84,580		$	86,440

Drydock amortization
Asia Pacific	$	6,255		$	8,917		$	9,487
Middle East		2,011			2,133			2,489
Americas		11,453			7,417			13,569
Total drydock amortization	$	19,719		$	18,467		$	25,545

(1)	Intercompany transactions were not significant for the years ended December 31, 2014, 2013 and 2012.

(2)

Total capital expenditures represent expenditures for which cash payments were made during the period. Capital expenditures for the year ended December 31, 2014 include $27.0 million of cash payments for accrued capital expenditures outstanding at December 31, 2013. Capital expenditures for the year ended December 31, 2013 exclude approximately $48.3 million in accrued capital expenditures. There were no accrued capital expenditures for the year ended December 31, 2012.

Significant Impact of Customers on Company Segments

2. Information about our most significant Customers

Our customers, which significantly impacted our segments during the years ended December 31, 2014, 2013 and 2012, were as follows:

	% of
	Consolidated			Reportable
	Revenues			Segment
Year Ended December 31, 2014:
Saudi Aramco		27	%	Middle East
Inpex Operations Australia Pty Ltd.		25	%	Asia Pacific
Year Ended December 31, 2013:
Saudi Aramco		25	%	Middle East
Azerbaijan International Oil Company		13	%	Middle East
Year Ended December 31, 2012:
Exxon Mobil Corporation		24	%	Asia Pacific
Saudi Aramco		22	%	Middle East
BHP Billiton Petroleum Pty Ltd.		10	%	Asia Pacific

Information about Service Lines and Operations in Different Geographic Areas

3. Information about our Service Lines and Operations in Different Geographic Areas:

	Year Ended December 31,
	2014		2013		2012
	(In thousands)
Service line revenues:
Installation Operations	$	1,041,525	$	1,155,516	$	1,885,143
Fabrication Operations		266,854		370,854		487,215
Project Services and Engineering
Operations		314,776		341,084		337,774
Procurement Activities		677,734		791,478		931,492
	$	2,300,889	$	2,658,932	$	3,641,624

Geographic revenues:
Saudi Arabia	$	616,659	$	720,879	$	1,057,930
Australia		614,164		481,123		1,485,503
Brazil		290,561		176,475		87,597
Indonesia		150,205		144,538		—
United States		148,606		126,986		119,785
Mexico		130,642		117,813		55,974
Azerbaijan		111,382		345,742		268,419
Malaysia		98,004		329,689		67,553
United Arab Emirates		57,249		19,528		156,395
Other countries		83,417		196,159		342,468
	$	2,300,889	$	2,658,932	$	3,641,624

Information about Segment Assets and Property, Plant and Equipment by Country

4. Information about our Segment Assets and Property, Plant and Equipment by Country:

	Year Ended December 31,
	2014		2013		2012
	(In thousands)
Segment assets:
Asia Pacific	$	601,394	$	1,030,823	$	1,402,923
Middle East		996,812		1,129,529		1,006,284
Americas		973,169		522,713		536,734
Corporate and Other		872,582		124,306		387,686
Total assets	$	3,443,957	$	2,807,371	$	3,333,627

Property, plant and equipment, net⁽¹⁾:
Brazil	$	458,199	$	192,101	$	52,955
United Arab Emirates		306,320		145,635		110,292
Mexico		245,226		96,830		61,390
Singapore		219,570		306,948		324,106
Indonesia		189,064		154,630		144,322
Spain		154,078		94,917		15,159
United States		46,537		54,647		201,815
Saudi Arabia		20,561		191,400		102,334
Australia		—		14		212,955
Malaysia		—		240,042		—
Other countries		3,541		1,513		56,463
Total property, plant and equipment, net	$	1,643,096	$	1,478,677	$	1,281,791

(1)	Our marine vessels are included in the country in which they were located as of year-end.

Other Information about Segment

5. Information about our Unconsolidated Affiliates:

	Year Ended December 31,
	2014			2013			2012
	(In thousands)
Equity in loss of unconsolidated affiliates:
Asia Pacific	$	(10,009	)	$	(10,738	)	$	(10,123	)
Americas		4,829			(4,275	)		(6,016	)
Middle East		(2,668	)		(1,103	)		(580	)
	$	(7,848	)	$	(16,116	)	$	(16,719	)

Investments in unconsolidated affiliates:
Asia Pacific	$	35,722		$	49,423
Americas		1,598			120
Corporate		866			993
Total investments in unconsolidated affiliates	$	38,186		$	50,536

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

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