Subsidiary Guarantors (Tables)

12 Months Ended

Dec. 31, 2016

Condensed Financial Information Of Parent Company Only Disclosure [Abstract]

Condensed Consolidating of Balance Sheet

GREAT LAKES DREDGE & DOCK CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATING BALANCE SHEET
AS OF DECEMBER 31, 2016
(In thousands)

ASSETS	Subsidiary Guarantors			Non-Guarantor Subsidiaries			GLDD Corporation		Eliminations			Consolidated Totals
CURRENT ASSETS:
Cash and cash equivalents	$	10,414		$	751		$	2	$	—		$	11,167
Accounts receivable — net		75,412			14,242			—		(1,563	)		88,091
Contract revenues in excess of billings		91,478			3,534			—		—			95,012
Inventories		37,137			—			—		—			37,137
Prepaid expenses		12,287			120			—		—			12,407
Other current assets		60,844			2,568			—		—			63,412
Total current assets		287,572			21,215			2		(1,563	)		307,226

PROPERTY AND EQUIPMENT—Net		407,516			5,492			—		—			413,008
GOODWILL		83,576			—			—		—			83,576
OTHER INTANGIBLE ASSETS—Net		1,067			432			—		—			1,499
INVENTORIES — Noncurrent		52,602			—			—		—			52,602
INVESTMENTS IN JOINT VENTURES		4,685			49			—		—			4,734
ASSETS HELD FOR SALE— Noncurrent		8,390			909			—		—			9,299
RECEIVABLES FROM AFFILIATES		58,284			16,807			82,340		(157,431	)		—
INVESTMENTS IN SUBSIDIARIES		—			—			636,216		(636,216	)		—
OTHER		14,692			1			6,951		—			21,644
TOTAL	$	918,384		$	44,905		$	725,509	$	(795,210	)	$	893,588

LIABILITIES AND EQUITY
CURRENT LIABILITIES:
Accounts payable	$	101,795		$	2,879		$	17	$	(1,506	)	$	103,185
Accrued expenses		55,940			3,222			9,881		—			69,043
Billings in excess of contract revenues		4,699			499			—		(57	)		5,141
Current portion of long term debt		305			1,015			1,145		—			2,465
Total current liabilities		162,739			7,615			11,043		(1,563	)		179,834

7 3/8% SENIOR NOTES		—			—			272,998		—			272,998
REVOLVING CREDIT FACILITY		—			—			104,111		—			104,111
NOTE PAYABLE		—			—			13,293		—			13,293
DEFERRED INCOME TAXES		(1,833	)		—			70,282		—			68,449
PAYABLES TO AFFILIATES		80,769			70,921			5,741		(157,431	)		—
INVESTMENTS IN SUBSIDIARIES		32,000			—			—		(32,000	)		—
OTHER		5,925			937			151		—			7,013
Total liabilities		279,600			79,473			477,619		(190,994	)		645,698

TOTAL EQUITY		638,784			(34,568	)		247,890		(604,216	)		247,890
TOTAL	$	918,384		$	44,905		$	725,509	$	(795,210	)	$	893,588

GREAT LAKES DREDGE & DOCK CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATING BALANCE SHEET
AS OF DECEMBER 31, 2015
(In thousands)

ASSETS	Subsidiary Guarantors			Non-Guarantor Subsidiaries		GLDD Corporation		Eliminations			Consolidated Totals
CURRENT ASSETS:
Cash and cash equivalents	$	11,698		$	2,484	$	2	$	—		$	14,184
Accounts receivable — net		103,868			30,545		—		(3,636	)		130,777
Contract revenues in excess of billings		75,161			6,034		—		—			81,195
Inventories		35,963			—		—		—			35,963
Prepaid expenses		7,590			334		—		—			7,924
Other current assets		57,119			2,094		477		—			59,690
Total current assets		291,399			41,491		479		(3,636	)		329,733

PROPERTY AND EQUIPMENT—Net		407,788			22,422		—		—			430,210
GOODWILL		83,576			—		—		—			83,576
OTHER INTANGIBLE ASSETS—Net		1,565			863		—		—			2,428
INVENTORIES — Noncurrent		41,646			—		—		—			41,646
INVESTMENTS IN JOINT VENTURES		3,704			57		—		—			3,761
RECEIVABLES FROM AFFILIATES		62,035			15,915		70,738		(148,688	)		—
INVESTMENTS IN SUBSIDIARIES		10,403			—		621,984		(632,387	)		—
OTHER		6,702			3		65		—			6,770
TOTAL	$	908,818		$	80,751	$	693,266	$	(784,711	)	$	898,124

LIABILITIES AND EQUITY
CURRENT LIABILITIES:
Accounts payable	$	111,938		$	10,443	$	—	$	(3,535	)	$	118,846
Accrued expenses		61,211			2,159		8,907		—			72,277
Billings in excess of contract revenues		6,297			865		—		(101	)		7,061
Current portion of long term debt		296			1,128		6,082		—			7,506
Total current liabilities		179,742			14,595		14,989		(3,636	)		205,690

7 3/8% SENIOR NOTES		—			—		271,998		—			271,998
REVOLVING CREDIT FACILITY		—			—		20,000		—			20,000
NOTE PAYABLE		—			323		53,469		—			53,792
DEFERRED INCOME TAXES		(783	)		—		74,789		—			74,006
PAYABLES TO AFFILIATES		81,405			61,574		5,709		(148,688	)		—
OTHER		18,374			1,952		139		—			20,465
Total liabilities		278,738			78,444		441,093		(152,324	)		645,951

TOTAL EQUITY		630,080			2,307		252,173		(632,387	)		252,173
TOTAL	$	908,818		$	80,751	$	693,266	$	(784,711	)	$	898,124

Schedule Of Condensed Consolidating Operations And Comprehensive Income (Loss)

GREAT LAKES DREDGE & DOCK CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)
FOR THE YEAR ENDED DECEMBER 31, 2016
(In thousands)

	Subsidiary Guarantors			Non-Guarantor Subsidiaries			GLDD Corporation			Eliminations			Consolidated Totals
Contract revenues	$	726,239		$	44,086		$	—		$	(2,740	)	$	767,585
Costs of contract revenues		(622,158	)		(61,779	)		—			2,740			(681,197	)
Gross profit		104,081			(17,693	)		—			—			86,388

OPERATING EXPENSES:
General and administrative expenses		51,678			13,904			(49	)		—			65,533
Loss on sale of assets—net		3,040			3,135			—			—			6,175
Operating income (loss)		49,363			(34,732	)		49			—			14,680

Interest income (expense)—net		1,985			(1,497	)		(23,395	)		—			(22,907	)
Equity in earnings (loss) of subsidiaries		(31,488	)		—			10,313			21,175			—
Equity in loss of joint ventures		(2,365	)		—			—			—			(2,365	)
Other expense		(2,626	)		(751	)		—			—			(3,377	)
Income (loss) before income taxes		14,869			(36,980	)		(13,033	)		21,175			(13,969	)

Income tax (provision) benefit		1,080			(144	)		4,856			—			5,792

Net income (loss)	$	15,949		$	(37,124	)	$	(8,177	)	$	21,175		$	(8,177	)

Comprehensive income (loss)	$	16,279		$	(36,616	)	$	(7,339	)	$	20,337		$	(7,339	)

GREAT LAKES DREDGE & DOCK CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)
FOR THE YEAR ENDED DECEMBER 31, 2015
(In thousands)

	Subsidiary Guarantors			Non-Guarantor Subsidiaries			GLDD Corporation			Eliminations			Consolidated Totals
Contract revenues	$	778,337		$	86,666		$	—		$	(8,125	)	$	856,878
Costs of contract revenues		(670,973	)		(98,107	)		—			8,125			(760,955	)
Gross profit		107,364			(11,441	)		—			—			95,923

OPERATING EXPENSES:
General and administrative expenses		58,682			12,387			—			—			71,069
Impairment of goodwill		—			2,750			—			—			2,750
Gain on sale of assets—net		(885	)		30			—			—			(855	)
Operating income (loss)		49,567			(26,608	)		—			—			22,959

Interest income (expense)—net		872			(1,398	)		(23,839	)		—			(24,365	)
Equity in earnings of subsidiaries		34			—			16,282			(16,316	)		—
Equity in earnings (loss) of joint ventures		(6,221	)		170			—			—			(6,051	)
Other income (expense)		(3,180	)		1,951			—			—			(1,229	)
Income (loss) before income taxes		41,072			(25,885	)		(7,557	)		(16,316	)		(8,686	)

Income tax (provision) benefit		1,641			(512	)		1,368			—			2,497

Net income (loss)		42,713		$	(26,397	)	$	(6,189	)	$	(16,316	)	$	(6,189	)

Comprehensive income (loss)	$	42,713		$	(27,646	)	$	(7,438	)	$	(15,067	)	$	(7,438	)

GREAT LAKES DREDGE & DOCK CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME(LOSS)
FOR THE YEAR ENDED DECEMBER 31, 2014
(In thousands)

	Subsidiary Guarantors			Non-Guarantor Subsidiaries			GLDD Corporation			Eliminations			Consolidated Totals
Contract revenues	$	700,427		$	125,434		$	—		$	(19,030	)	$	806,831
Costs of contract revenues		(612,178	)		(121,187	)		—			19,030			(714,335	)
Gross profit		88,249			4,247			—			—			92,496

OPERATING EXPENSES:
General and administrative expenses		52,529			15,382			—			—			67,911
Loss on sale of assets—net		513			219			—			—			732
Operating income		35,207			(11,354	)		—			—			23,853

Interest income (expense)—net		316			(516	)		(19,767	)		—			(19,967	)
Equity in earnings of subsidiaries		4,443			—			10,373			(14,816	)		—
Equity in earnings (loss) of joint ventures		(4,482	)		7,377			—			—			2,895
Gain on bargain purchase acquisition		—			2,197			—			—			2,197
Other income		185			25			—			—			210
Income (loss) before income taxes		35,669			(2,271	)		(9,394	)		(14,816	)		9,188

Income tax (provision) benefit		(15,219	)		(3,363	)		30,112			—			11,530

Income (loss) from continuing operations		20,450			(5,634	)		20,718			(14,816	)		20,718
Loss from discontinued operations, net of income taxes		(10,423	)		(1,343	)		(10,423	)		11,766			(10,423	)
Net income (loss)	$	10,027		$	(6,977	)	$	10,295		$	(3,050	)	$	10,295

Comprehensive income (loss)	$	9,828		$	(7,039	)	$	10,034		$	(2,789	)	$	10,034

Condensed Cash Flow Statement

GREAT LAKES DREDGE & DOCK CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED DECEMBER 31, 2016
(In thousands)

	Subsidiary Guarantors			Non-Guarantor Subsidiaries			GLDD Corporation			Eliminations			Consolidated Totals
OPERATING ACTIVITIES:
Cash provided by (used in) operating activities	$	74,409		$	(16,677	)	$	(19,062	)	$	—		$	38,670

INVESTING ACTIVITIES:
Purchases of property and equipment		(83,777	)		(21	)		—			—			(83,798	)
Proceeds from dispositions of property and equipment		10,582			7,675			—			—			18,257
Changes in restricted cash		(7,035	)		—			—			—			(7,035	)
Net change in accounts with affiliates		(5,100	)		—			(36,172	)		41,272			—
Transfer to parent		—			—			23,000			(23,000	)		—
Cash provided by (used in) investing activities		(85,330	)		7,654			(13,172	)		18,272			(72,576	)

FINANCING ACTIVITIES:
Repayment of term loan facility		—			—			(44,582	)		—			(44,582	)
Deferred financing fees		—			—			(6,817	)		—			(6,817	)
Repayment of long term note payable		—			—			(1,079	)		—			(1,079	)
Taxes paid on settlement of vested share awards		—			—			(171	)		—			(171	)
Net change in accounts with affiliates		32,933			8,339			—			(41,272	)		—
Transfer to parent		(23,000	)		—			—			23,000			—
Repayments of equipment debt		(296	)		(1,128	)		—			—			(1,424	)
Exercise of stock options and purchases from employee stock plans		—			—			905			—			905
Excess income tax benefit from share-based compensation		—			—			(133	)		—			(133	)
Borrowings under revolving loans		—			—			288,611			—			288,611
Repayments of revolving loans		—			—			(204,500	)		—			(204,500	)
Cash provided by financing activities		9,637			7,211			32,234			(18,272	)		30,810

Effect of foreign currency exchange rates on cash and cash equivalents		—			79			—			—			79

Net decrease in cash and cash equivalents		(1,284	)		(1,733	)		—			—			(3,017	)

Cash and cash equivalents at beginning of period		11,698			2,484			2			—			14,184

Cash and cash equivalents at end of period	$	10,414		$	751		$	2		$	—		$	11,167

GREAT LAKES DREDGE & DOCK CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED DECEMBER 31, 2015
(In thousands)

	Subsidiary Guarantors			Non-Guarantor Subsidiaries			GLDD Corporation			Eliminations			Consolidated Totals
OPERATING ACTIVITIES:
Cash provided by (used in) operating activities	$	75,489		$	(22,679	)	$	(23,688	)	$	—		$	29,122

INVESTING ACTIVITIES:
Purchases of property and equipment		(70,759	)		(3,696	)		—			—			(74,455	)
Proceeds from dispositions of property and equipment		1,102			220			—			—			1,322
Net change in accounts with affiliates		(32,342	)		—			(12,222	)		44,564			—
Cash used in investing activities		(101,999	)		(3,476	)		(12,222	)		44,564			(73,133	)

FINANCING ACTIVITIES:
Proceeds from term loan facility		—			—			2,640			—			2,640
Repayments of term loan facility		—			—			(5,000	)		—			(5,000	)
Deferred financing fees		—			—			(111	)		—			(111	)
Repayment of long term note payable		—			—			(443	)		—			(443	)
Taxes paid on settlement of vested share awards		—			—			(267	)		—			(267	)
Net change in accounts with affiliates		(23,491	)		31,991			36,064			(44,564	)		—
Transfer from parent		17,258			—			(17,258	)		—			—
Proceeds from equipment debt		—			—			410			—			410
Repayments of equipment debt		(195	)		(1,006	)		—			—			(1,201	)
Exercise of stock options and purchases from employee stock plans		—			—			1,365			—			1,365
Excess income tax benefit from share-based compensation		—			—			(57	)		—			(57	)
Purchase of treasury stock		—			—			(1,433	)		—			(1,433	)
Borrowings under revolving loans		—			—			179,500			—			179,500
Repayments of revolving loans		—			—			(159,500	)		—			(159,500	)
Cash provided by (used in) financing activities		(6,428	)		30,985			35,910			(44,564	)		15,903

Effect of foreign currency exchange rates on cash and cash equivalents		—			(97	)		—			—			(97	)

Net increase (decrease) in cash and cash equivalents		(32,938	)		4,733			—			—			(28,205	)

Cash and cash equivalents at beginning of period		44,636			(2,249	)		2			—			42,389

Cash and cash equivalents at end of period	$	11,698		$	2,484		$	2		$	—		$	14,184

GREAT LAKES DREDGE & DOCK CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED DECEMBER 31, 2014
(In thousands)

	Subsidiary Guarantors			Non-Guarantor Subsidiaries			GLDD Corporation			Eliminations			Consolidated Totals
OPERATING ACTIVITIES:
Net cash flows provided by (used in) operating activities of continuing operations	$	87,629		$	(23,354	)	$	2,879		$	—		$	67,154
Net cash flows used in operating activities of discontinued operations		(17,328	)		(1,024	)		—			—			(18,352	)
Cash provided by (used in) operating activities		70,301			(24,378	)		2,879			—			48,802

INVESTING ACTIVITIES:
Purchases of property and equipment		(86,697	)		(5,213	)		—			—			(91,910	)
Proceeds from dispositions of property and equipment		(178	)		246			—			—			68
Payments for acquisitions of businesses		—			(2,048	)		(25,000	)		—			(27,048	)
Payments on vendor performance obligations		(3,100	)		—			—			—			(3,100	)
Net change in accounts with affiliates		31,964			—			—			(31,964	)		—
Net cash flows used in investing activities of continuing operations		(58,011	)		(7,015	)		(25,000	)		(31,964	)		(121,990	)
Net cash flows provided by investing activities of discontinued operations		5,275			—			—			—			5,275
Cash used in investing activities		(52,736	)		(7,015	)		(25,000	)		(31,964	)		(116,715	)

FINANCING ACTIVITIES:
Proceeds from term loan facility		—			—			47,360			—			47,360
Repayments of term loan facility		—			—			(417	)		—			(417	)
Proceeds from issuance of 7 3/8% senior notes		—			—			24,880			—			24,880
Deferred financing fees		—			—			(2,532	)		—			(2,532	)
Taxes paid on settlement of vested share awards		—			—			(497	)		—			(497	)
Purchase of noncontrolling interest		—			—			(205	)		—			(205	)
Net change in accounts with affiliates		7,853			25,823			(65,640	)		31,964			—
Transfer to parent		(52,400	)		—			52,400			—			—
Repayments of equipment debt		—			(235	)		—			—			(235	)
Exercise of stock options and purchases from employee stock plans		—			—			1,568			—			1,568
Excess income tax benefit from share-based compensation		—			—			206			—			206
Borrowings under revolving loans		—			—			236,500			—			236,500
Repayments of revolving loans		—			—			(271,500	)		—			(271,500	)
Cash provided by (used in) financing activities		(44,547	)		25,588			22,123			31,964			35,128

Effect of foreign currency exchange rates on cash and cash equivalents		—			(164	)		—			—			(164	)

Net increase (decrease) in cash and cash equivalents		(26,982	)		(5,969	)		2			—			(32,949	)

Cash and cash equivalents at beginning of period		71,618			3,720			—			—			75,338

Cash and cash equivalents at end of period	$	44,636		$	(2,249	)	$	2		$	—		$	42,389