XML 53 R39.htm IDEA: XBRL DOCUMENT

Business Segment Information (Tables)

12 Months Ended

Dec. 31, 2021

Schedule of financial data by reportable segment

Certain financial data by reportable segment are summarized as follows (in thousands):


	Year Ended December 31,
	2021		2020		2019
Net revenues —
Well Intervention	$	516,564	$	539,249	$	593,300
Robotics		137,295		178,018		171,672
Production Facilities		69,348		58,303		61,210
Intercompany eliminations		(48,479)		(42,015)		(74,273)
Total	$	674,728	$	733,555	$	751,909

Income (loss) from operations —
Well Intervention	$	(35,882)	$	26,855	$	89,564
Robotics		5,762		13,755		7,261
Production Facilities		22,906		15,975		17,160
Segment operating income (loss)		(7,214)		56,585		113,985
Goodwill impairment ⁽¹⁾		—		(6,689)		—
Corporate, eliminations and other		(41,473)		(36,871)		(45,988)
Total	$	(48,687)	$	13,025	$	67,997
Net interest expense		(23,201)		(28,531)		(8,333)
Other non-operating income (expense), net		1,246		16,889		5,892
Income (loss) before income taxes	$	(70,642)	$	1,383	$	65,556

Capital expenditures —
Well Intervention	$	2,349	$	19,523	$	139,212
Robotics		120		257		417
Production Facilities		6,770		—		123
Corporate, eliminations and other		(917)		464		1,102
Total	$	8,322	$	20,244	$	140,854

Depreciation and amortization —
Well Intervention	$	107,551	$	101,756	$	80,153
Robotics		15,158		15,952		16,459
Production Facilities		19,465		15,652		15,658
Corporate and eliminations		(660)		349		450
Total	$	141,514	$	133,709	$	112,720

(1)	Relates to the impairment of the entire STL goodwill balance (Note 7).

Schedule of intercompany segment revenues

Intercompany segment amounts are derived primarily from equipment and services provided to other business segments. Intercompany segment revenues are as follows (in thousands):


	Year Ended December 31,
	2021		2020		2019
Well Intervention ⁽¹⁾	$	21,521	$	15,039	$	43,484
Robotics		26,958		26,976		30,789
Total	$	48,479	$	42,015	$	74,273

(1)	Amount for the year ended December 31, 2019 included $27.5 million associated with the P&A work on our oil and gas properties in our Production Facilities segment (Note 16).

Schedule of revenue by individually significant geographic location

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


	Year Ended December 31,
	2021		2020		2019
U.S.	$	232,661	$	304,563	$	297,162
U.K.		100,154		133,005		193,903
Brazil		154,326		208,565		216,796
West Africa		126,856		41,840		646
Other		60,731		45,582		43,402
Total	$	674,728	$	733,555	$	751,909

Schedule of property and equipment, net of accumulated depreciation, by individually significant geographic location

The following table provides our property and equipment, net of accumulated depreciation, by individually significant geographic location where those assets are based (in thousands):


	December 31,
	2021		2020
U.S.	$	693,062	$	750,986
U.K. ⁽¹⁾		713,385		764,070
Brazil ⁽²⁾		251,194		267,896
Singapore		4		12
Total	$	1,657,645	$	1,782,964

(1)	Includes the Q7000 and certain other assets that are based in the U.K. but are currently operating in West Africa and may also operate in the North Sea, Asia Pacific and other regions.

(2)	Includes the equipment on the Siem Helix 1 chartered vessel and certain other assets that are based in Brazil but are currently operating in West Africa and may also operate in the North Sea, Asia Pacific and other regions.

Schedule of total assets by reportable segment

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


	December 31,		December 31,
	2021		2020
Well Intervention	$	2,012,214	$	2,134,081
Robotics		96,249		132,550
Production Facilities		119,004		129,773
Corporate and other		98,561		101,874
Total	$	2,326,028	$	2,498,278