Segment Information

9 Months Ended

Sep. 30, 2011

Segment Information [Abstract]

Segment Information

(14) Segment Information

Business Segments

The Company has three reportable segments: subsea and well enhancement, drilling products and services, and marine. The subsea and well enhancement segment provides production-related services used to enhance, extend and maintain oil and gas production, which include integrated subsea services and engineering solutions, mechanical wireline, hydraulic workover and snubbing, well control, coiled tubing, electric line, pumping and stimulation and well bore evaluation services; well plug and abandonment services; stimulation and sand control equipment and services; and other oilfield services used to support drilling and production operations. The subsea and well enhancement segment also includes production handling arrangements, as well as the production and sale of oil and gas. The drilling products and services segment rents and sells stabilizers, drill pipe, tubulars and specialized equipment for use with onshore and offshore oil and gas well drilling, completion, production and workover activities. It also provides on-site accommodations and bolting and machining services. The marine segment operates liftboats for production service activities, as well as oil and gas production facility maintenance, construction operations and platform removals.

Summarized financial information for the Company’s segments for the three and nine months ended September 30, 2011 and 2010 is shown in the following tables (in thousands):

Three Months Ended September 30, 2011

	Subsea and		Drilling
	Well		Products and							Consolidated
	Enhancement		Services		Marine		Unallocated			Total
Revenues	$	377,559	$	163,456	$	24,327	$	—		$	565,342
Cost of services
(exclusive of items shown separately below)		228,241		58,538		14,286		—			301,065
Depreciation, depletion, amortization and accretion		28,976		33,213		2,686		—			64,875
General and administrative expenses		64,812		28,676		1,903		—			95,391
Income from operations		55,530		43,029		5,452		—			104,011
Interest income (expense), net		1,248		—		—		(20,363	)		(19,115	)
Earnings from equity-method investments, net		—		—		—		8,198			8,198
Income (loss) before income taxes	$	56,778	$	43,029	$	5,452	$	(12,165	)	$	93,094

Three Months Ended September 30, 2010

	Subsea and		Drilling
	Well		Products and							Consolidated
	Enhancement		Services		Marine		Unallocated			Total
Revenues	$	289,048	$	118,727	$	27,578	$	—		$	435,353
Cost of services											—
(exclusive of items shown separately below)		170,817		46,068		15,423		—			232,308
Depreciation, depletion, amortization and accretion		25,162		28,846		2,797		—			56,805
General and administrative expenses		53,043		28,394		3,475		—			84,912
Income from operations		40,026		15,419		5,883		—			61,328
Interest income (expense), net		1,343		—		—		(13,799	)		(12,456	)
Earnings from equity-method investments, net		—		—		—		3,030			3,030
Income (loss) before income taxes	$	41,369	$	15,419	$	5,883	$	(10,769	)	$	51,902

Nine Months Ended September 30, 2011

	Subsea and		Drilling
	Well		Products and							Consolidated
	Enhancement		Services		Marine		Unallocated			Total
Revenues	$	975,641	$	440,893	$	73,595	$	—		$	1,490,129
Cost of services
(exclusive of items shown separately below)		593,216		161,862		51,202		—			806,280
Depreciation, depletion, amortization and accretion		82,773		96,220		8,559		—			187,552
General and administrative expenses		182,279		88,416		7,456		—			278,151
Gain on sale of businesses		—		—		8,558		—			8,558
Income from operations		117,373		94,395		14,936		—			226,704
Interest income (expense), net		3,483		—		—		(51,423	)		(47,940	)
Earnings from equity-method investments, net		—		—		—		13,724			13,724
Income (loss) before income taxes	$	120,856	$	94,395	$	14,936	$	(37,699	)	$	192,488

Nine Months Ended September 30, 2010

	Subsea and		Drilling
	Well		Products and								Consolidated
	Enhancement		Services		Marine			Unallocated			Total
Revenues	$	806,166	$	354,341	$	64,213		$	—		$	1,224,720
Cost of services
(exclusive of items shown separately below)		481,561		129,922		49,793			—			661,276
Depreciation, depletion, amortization and accretion		69,254		85,135		7,763			—			162,152
General and administrative expenses		158,746		79,584		9,835			—			248,165
Income (loss) from operations		96,605		59,700		(3,178	)		—			153,127
Interest income (expense), net		3,500		—		—			(42,674	)		(39,174	)
Earnings from equity-method investments, net		—		—		—			9,185			9,185
Income (loss) before income taxes	$	100,105	$	59,700	$	(3,178	)	$	(33,489	)	$	123,138

     Identifiable Assets

	Subsea and		Drilling
	Well		Products and						Consolidated
	Enhancement		Services		Marine		Unallocated		Total
September 30, 2011	$	2,095,664	$	1,041,475	$	249,532	$	97,071	$	3,483,742
December 31, 2010	$	1,769,813	$	802,785	$	255,883	$	79,052	$	2,907,533

Geographic Segments

The Company attributes revenue to various countries based on the location where services are performed or the destination of the drilling products or equipment sold or leased. Long-lived assets consist primarily of property, plant and equipment and are attributed to various countries based on the physical location of the asset at the end of a period. The Company’s information by geographic area is as follows (in thousands):

Revenues:	Three Months Ended September 30,				Nine Months Ended September 30,
	2011		2010		2011		2010
United States	$	422,045	$	319,239	$	1,105,316	$	886,354
Other Countries		143,297		116,114		384,813		338,366
Total	$	565,342	$	435,353	$	1,490,129	$	1,224,720

Long-Lived Assets:	September 30,		December 31,
	2011		2010
United States	$	977,260	$	881,416
Other Countries		463,592		431,734
Total, net	$	1,440,852	$	1,313,150