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Segment Information (Tables)
9 Months Ended
Sep. 30, 2012
Segment Information [Abstract]  
Summary of financial information for the Company's segments

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended September 30, 2012

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Subsea and

 

Drilling

 

 

 

 

 

 

 

Well

 

Products and

 

 

 

Consolidated

 

 

 

Enhancement

 

Services

 

Unallocated

 

Total

 

 

 

 

 

 

 

 

 

 

 

Revenues

 

$          984,783 

 

$          194,882 

 

$                     - 

 

$      1,179,665 

 

Cost of services

 

 

 

 

 

 

 

 

 

(exclusive of items shown separately below)

 

646,649 

 

61,959 

 

 -

 

708,608 

 

Depreciation, depletion, amortization and accretion

 

90,376 

 

37,784 

 

 -

 

128,160 

 

General and administrative expenses

 

131,078 

 

32,380 

 

 -

 

163,458 

 

Income from operations

 

116,680 

 

62,759 

 

 -

 

179,439 

 

Interest income (expense), net

 

697 

 

 -

 

(28,815)

 

(28,118)

 

Loss on early extinguishment of debt

 

 -

 

 -

 

(2,294)

 

(2,294)

 

 

 

 

 

 

 

 

 

 

 

Income (loss) from continuing operations

 

 

 

 

 

 

 

 

 

before income taxes

 

$          117,377 

 

$            62,759 

 

$         (31,109)

 

$         149,027 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended September 30, 2011

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Subsea and

 

Drilling

 

 

 

 

 

 

 

Well

 

Products and

 

 

 

Consolidated

 

 

 

Enhancement

 

Services

 

Unallocated

 

Total

 

 

 

 

 

 

 

 

 

 

 

Revenues

 

$          373,586 

 

$          163,456 

 

$                     - 

 

$         537,042 

 

Cost of services

 

 

 

 

 

 

 

 

 

(exclusive of items shown separately below)

 

226,586 

 

58,538 

 

 -

 

285,124 

 

Depreciation, depletion, amortization and accretion

 

28,592 

 

33,215 

 

 -

 

61,807 

 

General and administrative expenses

 

64,950 

 

28,863 

 

 -

 

93,813 

 

Income from operations

 

53,458 

 

42,840 

 

 -

 

96,298 

 

Interest income (expense), net

 

1,248 

 

 -

 

(20,142)

 

(18,894)

 

Earnings from equity-method

 

 

 

 

 

 

 

 

 

investments, net

 

 -

 

 -

 

8,198 

 

8,198 

 

 

 

 

 

 

 

 

 

 

 

Income (loss) from continuing operations

 

 

 

 

 

 

 

 

 

before income taxes

 

$            54,706 

 

$            42,840 

 

$         (11,944)

 

$           85,602 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Nine Months Ended September 30, 2012

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Subsea and

 

Drilling

 

 

 

 

 

 

 

Well

 

Products and

 

 

 

Consolidated

 

 

 

Enhancement

 

Services

 

Unallocated

 

Total

 

 

 

 

 

 

 

 

 

 

 

Revenues

 

$        2,807,432 

 

$           582,389 

 

$                     - 

 

$      3,389,821 

 

Cost of services

 

 

 

 

 

 

 

 

 

(exclusive of items shown separately below)

 

1,775,649 

 

191,010 

 

 -

 

1,966,659 

 

Depreciation, depletion, amortization and accretion

 

255,072 

 

111,200 

 

 -

 

366,272 

 

General and administrative expenses

 

396,123 

 

100,875 

 

 -

 

496,998 

 

Income from operations

 

380,588 

 

179,304 

 

 -

 

559,892 

 

Interest income (expense), net

 

2,106 

 

 -

 

(90,207)

 

(88,101)

 

Loss on early extinguishment of debt

 

 -

 

 -

 

(2,294)

 

(2,294)

 

Losses from equity-method

 

 

 

 

 

 

 

 

 

investments, net

 

 -

 

 -

 

(287)

 

(287)

 

Gain on sale of equity-method investment

 

 -

 

 -

 

17,880 

 

17,880 

 

 

 

 

 

 

 

 

 

 

 

Income (loss) from continuing operations

 

 

 

 

 

 

 

 

 

before income taxes

 

$           382,694 

 

$           179,304 

 

$         (74,908)

 

$         487,090 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Nine Months Ended September 30, 2011

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Subsea and

 

Drilling

 

 

 

 

 

 

 

Well

 

Products and

 

 

 

Consolidated

 

 

 

Enhancement

 

Services

 

Unallocated

 

Total

 

 

 

 

 

 

 

 

 

 

 

Revenues

 

$          961,039 

 

$          440,893 

 

$                     - 

 

$      1,401,932 

 

Cost of services

 

 

 

 

 

 

 

 

 

(exclusive of items shown separately below)

 

590,951 

 

161,862 

 

 -

 

752,813 

 

Depreciation, depletion, amortization and accretion

 

81,424 

 

96,227 

 

 -

 

177,651 

 

General and administrative expenses

 

183,040 

 

89,203 

 

 -

 

272,243 

 

Income from operations

 

105,624 

 

93,601 

 

 -

 

199,225 

 

Interest income (expense), net

 

3,483 

 

 -

 

(50,792)

 

(47,309)

 

Earnings from equity-method

 

 

 

 

 

 

 

 

 

investments, net

 

 -

 

 -

 

13,724 

 

13,724 

 

 

 

 

 

 

 

 

 

 

 

Income (loss) from continuing operations

 

 

 

 

 

 

 

 

 

before income taxes

 

$          109,107 

 

$            93,601 

 

$         (37,068)

 

$         165,640 

 

 

 

 

 

 

 

 

 

 

 

 

Identifiable Assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Identifiable Assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Subsea and

 

Drilling

 

 

 

 

 

 

 

 

 

Well

 

Products and

 

 

 

 

 

Consolidated

 

 

 

Enhancement

 

Services

 

Marine

 

Unallocated

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

September 30, 2012

 

$     6,718,059

 

$     1,051,235

 

$                   -

 

$         20,324

 

$     7,789,618

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2011

 

$     2,863,550

 

$        947,679

 

$        164,444

 

$         72,472

 

$     4,048,145

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Company's information by geographic area

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenues:

 

Three Months Ended September 30,

 

Nine Months Ended September 30,

 

 

 

2012

 

2011

 

2012

 

2011

 

 

 

 

 

 

 

 

 

 

 

United States

 

$            976,984

 

$            397,718

 

$         2,826,544

 

$         1,035,759

 

Other Countries

 

202,681 

 

139,324 

 

563,277 

 

366,173 

 

 

 

 

 

 

 

 

 

 

 

Total

 

$         1,179,665

 

$            537,042

 

$         3,389,821

 

$         1,401,932

 

 

 

 

 

 

 

 

 

 

 

Long-Lived Assets:

 

September 30,

 

December 31,

 

 

 

 

 

 

 

2012

 

2011

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

United States

 

$         2,623,401

 

$         1,060,483

 

 

 

 

 

Other Countries

 

539,872 

 

446,885 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total, net

 

$         3,163,273

 

$         1,507,368