SEGMENT REPORTING

3 Months Ended

Mar. 31, 2015

Segment Reporting [Abstract]

SEGMENT REPORTING

NOTE 13—SEGMENT REPORTING

In the first quarter of 2015, we completed changes to our organizational structure which resulted in the realignment of our reporting segments. Our North Sea and Africa operations were previously aggregated into the Middle East reporting segment. However, the responsibility for business decisions relating to the North Sea and Africa was moved to our Americas reporting segment in the first quarter of 2015.  As a result, the North Sea and Africa businesses are now reflected in our Americas segment, now referred to as Americas, Europe and Africa (collectively, “AEA”). All comparable periods presented have been revised to reflect this change. Accordingly, we report financial results under three reporting segments consisting of AEA, the Middle East (“MEA”) and Asia (“ASA”). We also report certain corporate and other non-operating activities under the heading “Corporate and other,” which primarily reflects corporate personnel and activities, incentive compensation programs and other costs that are generally fully allocated to our reporting segments. However, Corporate restructuring costs associated with our corporate reorganization are not allocated to our reporting segments.

Reporting segments are measured based on operating income, which is defined as revenues reduced by total costs and expenses and equity in income (loss) of unconsolidated affiliates. Summarized financial information is shown in the following tables:

	Three Months Ended March 31,
	2015			2014
	(In thousands)
Revenues(1):
AEA	$	143,313		$	181,686
MEA		153,800			260,300
ASA		253,350			161,825
Total revenues	$	550,463		$	603,811
Operating income (loss)(2):
AEA	$	15,071		$	(36,412	)
MEA		5,177			(2,734	)
ASA		(12,916	)		3,431
Corporate		(767	)		(2,494	)
Total operating income (loss)	$	6,565		$	(38,209	)
Capital expenditures(3):
AEA	$	2,913		$	7,409
MEA		10,114			22,575
ASA		10,824			4,068
Corporate and Other		121			3,841
Total capital expenditures	$	23,972		$	37,893
Depreciation and amortization:
AEA	$	12,823		$	10,827
MEA		5,738			8,169
ASA		3,916			3,908
Corporate and Other		2,850			1,698
Total depreciation and amortization	$	25,327		$	24,602
Drydock amortization:
AEA	$	3,083		$	4,562
MEA		613			429
ASA		1,576			1,955
Total drydock amortization	$	5,272		$	6,946

⁽¹⁾ Intersegment transactions included in revenues were not significant for either of the periods presented.

⁽²⁾ The ASA segment’s operating loss includes an impairment charge of $4.2 million related to the DB101.

⁽³⁾ Total capital expenditures presents expenditures for which cash payments were made during the period. Capital expenditures for the three months ended March 31, 2015 include $3.3 million of cash payments for accrued capital expenditures outstanding as of December 31, 2014. Capital expenditures for the three months ended March 31, 2014 include $8.3 million of cash payments for accrued capital expenditures outstanding as of December 31, 2013.

	March 31, 2015		December 31, 2014
	(In thousands)
Segment assets:
AEA	$	922,868	$	976,179
MEA		932,028		990,671
ASA		758,473		601,394
Corporate and Other		846,662		848,635
	$	3,460,031	$	3,416,879