Operating Segment Information

6 Months Ended

Jun. 30, 2011

Operating Segment Information [Abstract]

OPERATING SEGMENT INFORMATION

(10) OPERATING SEGMENT INFORMATION

     We operate three segments: the North Sea, Southeast Asia and the Americas, each of which is considered a reportable segment under FASB ASC 280, “Segment Reporting”. Our management evaluates segment performance primarily based on operating income. Cash and debt are managed centrally. Because the regions do not manage those items, the gains and losses on foreign currency remeasurements associated with these items are excluded from operating income. Our management considers segment operating income to be a good indicator of each segment’s operating performance from its continuing operations, as it represents the results of the ownership interest in operations without regard to financing methods or capital structures. Each operating segment’s operating income (loss) is summarized in the following table, and detailed discussions below.

Operating Income (Loss) by Operating Segment

	North		Southeast
	Sea		Asia		Americas			Other			Total
	(In thousands)
Quarter Ended June 30, 2011
Revenue	$	43,836	$	15,678	$	37,397		$	—		$	96,911
Direct operating expenses		20,727		2,887		23,294			—			46,908
Drydock expense		2,371		1,755		(443	)		—			3,683
General and administrative expenses		2,689		761		1,930			5,530			10,910
Depreciation and amortization expense		4,970		2,431		7,132			449			14,982
Operating income (loss)	$	13,079	$	7,844	$	5,484		$	(5,979	)	$	20,428
Quarter Ended June 30, 2010
Revenue	$	37,217	$	16,841	$	38,724		$	—		$	92,782
Direct operating expenses		19,299		2,385		20,974			—			42,658
Drydock expense		1,489		1,637		3,033			—			6,159
General and administrative expenses		2,700		763		2,361			5,632			11,456
Depreciation and amortization expense		4,624		2,036		7,084			233			13,977
(Gain) loss on sale of assets		—		—		109			(3	)		106
Impairment charge		—		—		97,665			—			97,665
Operating income (loss)	$	9,105	$	10,020	$	(92,502	)	$	(5,862	)	$	(79,239	)
	North		Southeast
	Sea		Asia		Americas			Other			Total
	(In thousands)
Six Months Ended June 30, 2011
Revenue	$	79,235	$	31,213	$	67,752		$	—		$	178,200
Direct operating expenses		41,441		5,749		44,035			—			91,225
Drydock expense		5,441		1,940		2,826			—			10,207
General and administrative expenses		5,923		1,435		4,199			10,776			22,333
Depreciation and amortization expense		9,757		4,882		14,238			781			29,658
Loss on sale of assets		—		—		10			—			10
Operating income (loss)	$	16,673	$	17,207	$	2,444		$	(11,557	)	$	24,767
Six Months Ended June 30, 2010
Revenue	$	72,492	$	32,668	$	72,273		$	—		$	177,433
Direct operating expenses		39,465		4,710		41,552			—			85,727
Drydock expense		3,519		3,583		6,021			—			13,123
General and administrative expenses		5,521		1,362		4,547			11,757			23,187
Depreciation and amortization expense		9,284		4,001		14,212			455			27,952
(Gain) loss on sale of assets		—		—		109			(3	)		106
Impairment charge		—		—		97,665			—			97,665
Operating income (loss)	$	14,703	$	19,012	$	(91,833	)	$	(12,209	)	$	(70,327	)