Business Segment Information

12 Months Ended

Dec. 31, 2013

Business Segment Information [Abstract]

Business Segment Information

Note 14 — Business Segment Information

We currently havefour business segments:Well Intervention, Robotics,Subsea Construction and Production Facilities.  Our Well Intervention segment includes our vessels and related equipment that are used to perform both heavy and light well intervention services primarily in the Gulf of Mexico and North Sea regions.  Our well intervention vessels include the Q4000, the Helix534, the Seawell, the Well Enhancer and the Skandi Constructor, which is chartered.  We are currently constructing two additional well intervention vessels, the Q5000 and the Q7000.  Our Robotics segment currently operates five chartered vessels and also includes ROVs, trenchers and ROVDrills designed to complement offshore construction and well intervention services.  We have sold substantially all of the assets associated with our former Subsea Construction operations (Notes1 and 2).  The Production Facilities segment includes our consolidated investment in the HPI and Kommandor LLC as well as our equity investments in Deepwater Gateway and Independence Hub that are accounted for under the equity method.  All material intercompany transactions between the segments have been eliminated.  In February2013, we sold ERT andas a result, we have presented the assets and liabilities included in the sale of ERT and the historical operating results of our former Oil and Gas segment as discontinued operations in the accompanying consolidated financial statements.  See Note3 for additional information regarding our discontinued operations.

We evaluate our performance based on operating income and income before income taxes of each segment.  Segment assets are comprised of all assets attributable to each reportable segment. Corporate and other includes all assets not directly identifiable with our business segments, most notably the majority of our cash and cash equivalents.  Certain financial data by reportable segment are summarized as follows (inthousands):

		Year Ended December 31,
		2013		2012		2011
Revenues —
Well Intervention	$	452,452	$	378,546	$	340,952
Robotics		333,246		328,726		245,360
Subsea Construction		71,321		192,521		151,923
Production Facilities		88,149		80,091		75,460
Intercompany elimination		(68,607)		(133,775)		(111,695)
Total	$	876,561	$	846,109	$	702,000
Income (loss) from operations —
Well Intervention	$	131,840	$	85,482	$	80,030
Robotics		44,132		55,678		36,518
Subsea Construction (1)		33,685		(148,862)		(9,535)
Production Facilities		49,778		40,082		38,404
Corporate and other		(77,041)		(92,985)		(82,470)
Intercompany elimination		(3,360)		(7,878)		93
Total	$	179,034	$	(68,483)	$	63,040
Net interest expense and other —
Well Intervention	$	(217)	$	2,152	$	(1,062)
Robotics		(210)		(1,203)		1,847
Subsea Construction		480		(247)		(20)
Production Facilities		380		365		442
Corporate and eliminations		37,978		64,882		72,475
Total	$	38,411	$	65,949	$	73,682
Equity in earnings of equity investments	$	2,965	$	8,434	$	22,215

		Year Ended December 31,
		2013		2012		2011
Income (loss) before income taxes —
Well Intervention	$	132,057	$	83,205	$	72,642
Robotics		44,342		56,881		34,671
Subsea Construction		33,205		(148,615)		(9,515)
Production Facilities		52,363		48,276		58,064
Corporate and eliminations		(118,379)		(165,745)		(154,852)
Total	$	143,588	$	(125,998)	$	1,010
Income tax provision (benefit) —
Well Intervention	$	26,718	$	15,400	$	21,154
Robotics		15,530		20,222		10,978
Subsea Construction		11,655		(51,329)		(2,897)
Production Facilities		17,233		15,784		19,233
Corporate and eliminations		(39,524)		(59,235)		(85,274)
Total	$	31,612	$	(59,158)	$	(36,806)

		Year Ended December 31,
		2013		2012		2011
Identifiable assets —
Well Intervention	$	1,245,229	$	936,926	$	682,449
Robotics		282,373		258,117		207,205
Subsea Construction		38,054		303,479		548,043
Production Facilities		495,829		504,828		536,026
Corporate and other		482,795		483,003		584,304
Discontinued operations		-		900,227		1,024,320
Total	$	2,544,280	$	3,386,580	$	3,582,347
Capital expenditures —
Well Intervention	$	283,132	$	274,451	$	13,923
Robotics		39,655		44,500		27,045
Production Facilities		1,252		823		30,896
Corporate and other		387		3,265		28,290
Total	$	324,426	$	323,039	$	100,154

		Year Ended December 31,
		2013		2012		2011
Depreciation and amortization —
Well Intervention	$	44,619	$	37,736	$	35,544
Robotics		22,263		19,933		16,426
Subsea Construction		8,651		19,773		21,321
Production Facilities		17,193		16,828		14,935
Corporate and eliminations		5,809		2,931		2,962
Total	$	98,535	$	97,201	$	91,188

(1) Amount in 2013 includes the $1.1 million loss on the sale of the Caesar in June2013 and the $15.6 million gain on the sale of the Express in July2013.  Amount in 2012 includes impairment charges of $157.8 million for the Caesar and $14.6 million for the Intrepid (Note2).

Intercompany segment revenues during the years ended December31, 2013,2012and 2011are as follows (inthousands): 

		Year Ended December 31,
		2013		2012		2011
Well Intervention	$	22,448	$	36,781	$	16,175
Robotics		41,169		46,465		45,251
Subsea Construction		317		4,472		4,212
Production Facilities		4,673		46,057		46,057
Total	$	68,607	$	133,775	$	111,695

Intercompany segment profits (losses) (which only relate to intercompany capital projects) during the years ended December31, 2013,  2012and 2011are as follows (inthousands): 

		Year Ended December 31,
		2013		2012		2011
Well Intervention	$	(141)	$	6,203	$	(223)
Robotics		3,518		180		213
Subsea Construction		158		1,670		114
Production Facilities		(175)		(175)		(197)
Total	$	3,360	$	7,878	$	(93)

Revenue by individually significant region during the years ended December31, 2013,  2012 and 2011is as follows (inthousands): 

		Year Ended December 31,
		2013		2012		2011
United States	$	345,525	$	281,308	$	316,869
United Kingdom		403,816		345,074		275,499
Other		127,220		219,727		109,632
Total	$	876,561	$	846,109	$	702,000

We include the property and equipment, net in the geographic region in which it legally resides.  The following table provides our property and equipment, net of accumulated depreciation, by individually significant region (inthousands): 

		Year Ended December 31,
		2013		2012		2011
United States	$	1,195,824	$	1,180,586	$	1,163,320
United Kingdom		332,394		304,062		281,430
Other		76		1,227		14,919
Total	$	1,528,294	$	1,485,875	$	1,459,669