Business Segment Information

We have three reportable business segments: Well Intervention, Robotics and Production Facilities. Our U.S., U.K. and Brazil well intervention operating segments are aggregated into the Well Intervention business segment for financial reporting purposes. Our Well Intervention segment includes our vessels and equipment used to perform well intervention services primarily in the U.S. Gulf of Mexico, North Sea and Brazil. Our Well Intervention segment also includes IRSs, some of which we rent out on a stand-alone basis, and SILs. Our well intervention vessels include the Q4000, the Q5000, the Seawell, the Well Enhancer, and the chartered Siem Helix 1 and Siem Helix 2 vessels. The Siem Helix 1 commenced well intervention operations for Petrobras offshore Brazil in April 2017 and the Siem Helix 2 commenced operations for Petrobras in December 2017. We returned the Skandi Constructor to its owner in March 2017 upon the expiration of the vessel charter. We previously owned the Helix 534, which we sold in December 2016 (Note 4). Our Robotics segment includes ROVs, trenchers and ROVDrills designed to complement offshore construction and well intervention services, and currently operates three ROV support vessels under long-term charter, including the Grand Canyon III that went into service for us in May 2017. Our vessel charter for the Deep Cygnus was terminated on February 9, 2018, at which time we returned the vessel to its owner. Our Production Facilities segment includes the HP I, the HFRS and our investment in Independence Hub that is accounted for under the equity method, and previously included our former ownership interest in Deepwater Gateway that we sold in February 2016 (Note 5). All material intercompany transactions between the segments have been eliminated.

We evaluate our performance based on operating income and income before income taxes of each reportable segment. Certain financial data by reportable segment are summarized as follows (in thousands):



	Year Ended December 31,
	2017			2016			2015
Net revenues —
Well Intervention	$	406,341		$	294,000		$	373,301
Robotics	152,755			160,580			301,026
Production Facilities	64,352			72,358			75,948
Intercompany elimination	(42,065		)	(39,356		)	(54,473		)
Total	$	581,383		$	487,582		$	695,802



Income (loss) from operations —
Well Intervention ⁽¹⁾	$	52,733		$	14,910		$	(194,381	)
Robotics ⁽²⁾	(42,289		)	(72,250		)	27,832
Production Facilities ⁽³⁾	28,172			33,861			(106,847		)
Corporate and other	(40,630		)	(39,384		)	(33,866		)
Intercompany elimination	884			(372		)	(98		)
Total	$	(1,130	)	$	(63,235	)	$	(307,360	)



Net interest expense —
Well Intervention	$	(156	)	$	(109	)	$	(102	)
Robotics	(30		)	(25		)	29
Production Facilities	—			—			385
Corporate and elimination	18,964			31,373			26,602
Total	$	18,778		$	31,239		$	26,914



Equity in losses of investments	$	(2,368	)	$	(2,166	)	$	(124,345	)



Income (loss) before income taxes —
Well Intervention ⁽¹⁾	$	48,948		$	18,813		$	(193,572	)
Robotics ^{(2) (4)}	(40,271		)	(73,533		)	2,454
Production Facilities ⁽³⁾	25,804			31,695			(231,577		)
Corporate and other and eliminations	(54,853		)	(70,890		)	(55,475		)
Total	$	(20,372	)	$	(93,915	)	$	(478,170	)



Income tax provision (benefit) —
Well Intervention	$	(29,934	)	$	12,531		$	(1,230	)
Robotics	(11,972		)	(9,948		)	515
Production Facilities	9,032			11,093			(81,052		)
Corporate and other and eliminations	(17,550		)	(26,146		)	(19,423		)
Total	$	(50,424	)	$	(12,470	)	$	(101,190	)



	Year Ended December 31,
	2017		2016			2015
Capital expenditures —
Well Intervention	$	230,354	$	185,892		$	307,879
Robotics	648		720			10,700
Production Facilities	—		74			1,867
Corporate and other	125		(199		)	(135		)
Total	$	231,127	$	186,487		$	320,311



Depreciation and amortization —
Well Intervention	$	68,301	$	68,392	$	66,095
Robotics	23,626		25,848		26,724
Production Facilities	13,936		13,952		21,340
Corporate and eliminations	2,882		5,995		6,242
Total	$	108,745	$	114,187	$	120,401


(1)	Amount in 2016 included a $1.3 million gain on the sale of the Helix 534 in December 2016. Amount in 2015 included impairment charges of $205.2 million for the Helix 534 and $6.3 million for certain capitalized vessel project costs and a $16.4 million goodwill impairment charge related to our U.K. well intervention reporting unit.


(2)	Amount in 2016 included a $45.1 million goodwill impairment charge related to our robotics reporting unit.


(3)	Amount in 2015 included a $133.4 million impairment charge for the HP I.


(4)	Amount in 2015 included unrealized losses totaling $18.3 million on our foreign currency exchange contracts associated with the Grand Canyon, Grand Canyon II and Grand Canyon III chartered vessels.

Intercompany segment amounts are derived primarily from equipment and services provided to other business segments at rates consistent with those charged to third parties. Intercompany segment revenues are as follows (in thousands):



	Year Ended December 31,
	2017		2016		2015

Well Intervention	$	11,489	$	8,442	$	22,855
Robotics	30,576		30,914		31,618
Total	$	42,065	$	39,356	$	54,473

Revenues by individually significant region are as follows (in thousands):



	Year Ended December 31,
	2017		2016		2015

United States	$	283,933	$	298,279	$	298,391
North Sea ⁽¹⁾	159,961		137,313		263,438
Brazil	70,710		2,543		28,487
Other	66,779		49,447		105,486
Total	$	581,383	$	487,582	$	695,802


(1)	Includes revenues of $156.0 million, $123.6 million and $187.7 million, respectively, which were from the U.K.

Our assets related to operations, primarily our vessels, operate throughout the year in various regions around the world such as the U.S. Gulf of Mexico, North Sea, Brazil, Asia Pacific and West Africa. The following table provides our property and equipment, net of accumulated depreciation, by individually significant geographic location of our assets (in thousands):



	December 31,
	2017		2016

United States	$	894,680	$	956,458
United Kingdom	270,499		299,699
Brazil	334,454		123,461
Singapore ⁽¹⁾	295,798		194,649
Other	10,558		77,343
Total	$	1,805,989	$	1,651,610


(1)	Primarily includes the Q7000 vessel under construction.

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. The following table reflects total assets by reportable segment (in thousands):



	December 31,
	2017		2016

Well Intervention	$	1,830,733	$	1,596,517
Robotics	179,853		186,901
Production Facilities	138,292		158,192
Corporate and other	213,959		305,331
Total	$	2,362,837	$	2,246,941