Business Segment Information

3 Months Ended

Mar. 31, 2020

Note 13 — 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 reportable segment includes our vessels and/or equipment used to perform well intervention services primarily in the Gulf of Mexico, Brazil, the North Sea and West Africa. Our well intervention vessels include the Q4000, the Q5000, the Q7000, the Seawell, the Well Enhancer, and the chartered Siem Helix 1 and Siem Helix 2 vessels. Our well intervention equipment includes IRSs and SILs, some of which we provide on a stand-alone basis. Our Robotics segment includes ROVs, trenchers and a ROVDrill, which are designed to complement well intervention services and offshore construction to both the oil and gas and the renewable energy markets. Our Robotics segment also includes two robotics support vessels under long-term charter, the Grand Canyon II and the Grand Canyon III, as well as spot vessels, including the Ross Candies, which is under a flexible charter agreement. Our Production Facilities segment includes the HP I, the HFRS, our ownership interest in Independence Hub (Note 4) and our ownership of oil and gas properties (Note 2). All material intercompany transactions between the segments have been eliminated.

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



	Three Months Ended March 31,
	2020			2019
Net revenues —
Well Intervention	$	140,652		$	122,231
Robotics	35,258			39,041
Production Facilities	15,541			15,253
Intercompany eliminations	(10,430		)	(9,702		)
Total	$	181,021		$	166,823

Income (loss) from operations —
Well Intervention	$	(5,692	)	$	9,641
Robotics	(2,824		)	(3,904		)
Production Facilities	3,643			4,405
Segment operating income (loss)	(4,873		)	10,142
Goodwill impairment ⁽¹⁾	(6,689		)	—
Corporate, eliminations and other	(9,465		)	(9,873		)
Total	$	(21,027	)	$	269


(1)	Relates to goodwill associated with our STL acquisition (Note 6).

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):



	Three Months Ended March 31,
	2020		2019

Well Intervention	$	3,304	$	3,225
Robotics	7,126		6,477
Total	$	10,430	$	9,702

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):



	March 31, 2020		December 31, 2019

Well Intervention	$	2,134,796	$	2,180,180
Robotics	136,845		151,478
Production Facilities	140,079		142,624
Corporate and other	102,431		122,449
Total	$	2,514,151	$	2,596,731