Business Segment Information

3 Months Ended

Mar. 31, 2012

Segment Reporting, Measurement Disclosures [Abstract]

Business Segment Information

BUSINESS SEGMENT INFORMATION

We are a global oilfield provider of engineered services and products, primarily to the offshore oil and gas industry, with a focus on deepwater applications. Through the use of our applied technology expertise, we also serve the defense and aerospace industries. Our Oil and Gas business consists of Remotely Operated Vehicles ("ROVs"), Subsea Products, Subsea Projects and Asset Integrity. Our ROV segment provides submersible vehicles operated from the surface to support offshore oil and gas exploration, development and production activities. Our Subsea Products segment supplies a variety of built-to-order specialty subsea hardware. Our Subsea Projects segment provides multiservice vessels, oilfield diving and support vessel operations, which are used primarily in inspection, repair and maintenance and installation activities, and a mobile offshore production system, through a 50% interest in an entity which holds a 75% interest in the system. With the acquisition of AGR FO in December 2011, we also operate and maintain offshore and onshore oil and gas production facilities, provide subsea engineering services, and operate an offshore logistics supply base in Australia. Our Asset Integrity segment provides asset integrity management and assessment services and nondestructive testing and inspection. Our Advanced Technologies business provides project management, engineering services and equipment for applications in non-oilfield markets. Unallocated Expenses are those not associated with a specific business segment. These consist of expenses related to our incentive and deferred compensation plans, including restricted stock and bonuses, as well as other general expenses, including corporate administrative expenses.

There are no differences in the basis of segmentation or in the basis of measurement of segment profit or loss from those used in our consolidated financial statements for the year ended December 31, 2011.

The table that follows presents Revenue and Income from Operations by business segment.

	For the Three Months Ended
(in thousands)	Mar 31, 2012			Mar 31, 2011			Dec 31, 2011
Revenue
Oil and Gas
Remotely Operated Vehicles	$	193,971		$	164,328		$	200,681
Subsea Products	172,081			157,318			196,987
Subsea Projects	72,676			37,569			45,263
Asset Integrity	93,456			58,350			66,826
Total Oil and Gas	532,184			417,565			509,757
Advanced Technologies	62,709			52,855			64,440
Total	$	594,893		$	470,420		$	574,197
Income from Operations
Oil and Gas
Remotely Operated Vehicles	$	56,933		$	47,406		$	59,100
Subsea Products	29,510			27,683			36,743
Subsea Projects	7,567			3,036			6,769
Asset Integrity	6,538			5,880			6,473
Total Oil and Gas	100,548			84,005			109,085
Advanced Technologies	3,509			2,517			5,215
Unallocated Expenses	(28,070		)	(25,455		)	(31,832		)
Total	$	75,987		$	61,067		$	82,468

We determine income from operations for each business segment before interest income or expense, other income (expense) and provision for income taxes. We do not consider an allocation of these items to be practical.