Major Customers and Segment Information

12 Months Ended

Dec. 31, 2021

Notes To Financial Statements [Abstract]

Major Customers and Segment Information

19. MAJOR CUSTOMERS AND SEGMENT INFORMATION

During the year ended December 31, 2021, Exxon Mobil and SEACOR Marine Arabia LLC, a joint venture through which vessels are in service to Saudi Aramco, were each responsible for $35.2 million or 21% and $29.7 million or 17%, respectively, of the Company’s total consolidated operating revenues from continuing operations. During the year ended December 31, 2020, SEACOR Marine Arabia LLC and Exxon Mobil were each responsible for $30.7 million or 21% and $24.8 million or 17%, respectively, of the Company’s total consolidated operating revenues from continuing operations. During the year ended December 31, 2019, SEACOR Marine Arabia LLC was responsible for $30.8 million or 17% ($20.3 million or 11% from Zamil Offshore and $10.5 million or 6% from Saudi Aramco) of the Company’s total consolidated operating revenues from continuing operations. Additionally, Exxon Mobil was responsible for revenues of $16.5 million or 9% in 2019.

For the years ended December 31, 2021, 2020 and 2019, the ten largest customers of the Company accounted for approximately 76%, 76% and 61%, respectively, of the Company’s operating revenues from continuing operations. The loss of one or more of these customers could have a material adverse effect on the Company’s results of operations and cash flows.

For the years ended December 31, 2021, 2020 and 2019, approximately 88%, 89% and 75%, respectively, of the Company’s operating revenues and $15.4 million, ($7.5) million and ($13.5) million, respectively, of equity in earnings (losses) from 50% or less owned companies, net of tax, were derived from its continuing foreign operations.

The Company’s offshore support vessels are highly mobile and regularly and routinely move between countries within a geographic region of the world. In addition, these vessels may be redeployed among the geographic regions, subject to flag restrictions, as changes in market conditions dictate. Because of this asset mobility, operating revenues and long-lived assets in any one country and capital expenditures for long-lived assets and gains or losses on asset dispositions and impairments in any one geographic region are not considered meaningful.

Certain reclassifications of prior period information have been made to conform the current period’s reportable segment presentation as a result of the Company’s presentation of Discontinued Operations (see “Note 20. Discontinued Operations”). In prior periods Africa and Europe were reported as separate segments. Due to the sale of Windcat Workboats, the Company’s European operations are no longer analyzed by the chief operating decision maker on a standalone basis but rather as part of the Africa and Europe segment. As a result, for purposes of segment reporting European operations are now combined with the Africa segment and reported as a combined segment and prior period information has been conformed to the new consolidated reporting segment. Direct vessel profit is the Company’s measure of segment profitability when applied to reportable segments. Direct vessel profit is defined as operating revenues less direct operating expenses excluding leased-in equipment expense. The Company utilizes direct vessel profit as its primary financial measure to analyze and compare the operating performance of its regions. The following tables summarize the operating results, capital expenditures and assets of the Company’s reportable segments for the periods indicated (in thousands):

	United States (primarily Gulf of Mexico)			Africa and Europe, Continuing Operations			Middle East and Asia			Latin America			Total
For the year ended December 31, 2021
Operating Revenues:
Time charter	$	15,487		$	44,268		$	53,146		$	46,934		$	159,835
Bareboat charter		1,549			—			—			2,484			4,033
Other marine services		3,607			(1,338	)		526			4,278			7,073
		20,643			42,930			53,672			53,696			170,941
Direct Costs and Expenses:
Operating:
Personnel	$	8,836		$	13,903		$	22,191		$	14,990		$	59,920
Repairs and maintenance		3,394			6,772			6,701			7,250			24,117
Drydocking		2,082			1,159			2,639			467			6,347
Insurance and loss reserves		2,632			1,353			2,481			2,201			8,667
Fuel, lubes and supplies		1,204			4,109			3,459			3,261			12,033
Other		648			5,815			6,158			3,701			16,322
		18,796			33,111			43,629			31,870			127,406
Direct Vessel (Loss) Profit	$	1,847		$	9,819		$	10,043		$	21,826		$	43,535
Other Costs and Expenses:
Lease expense	$	2,621		$	1,281		$	472		$	1,711		$	6,085
Administrative and general														37,639
Depreciation and amortization	$	15,712		$	12,856		$	17,985		$	10,842			57,395
														101,119
Gain on asset dispositions														20,436
Operating loss													$	(37,148	)
As of December 31, 2021
Property and Equipment:
Historical cost	$	253,426		$	223,039		$	340,225		$	208,594		$	1,025,284
Accumulated depreciation		(127,547	)		(71,820	)		(85,683	)		(32,247	)		(317,297	)
	$	125,879		$	151,219		$	254,543		$	176,347		$	707,987
Total Assets(1)	$	148,753		$	167,185		$	256,533		$	250,594		$	823,065

(1) Total assets exclude $89.4 million of corporate assets. 

	United States (primarily Gulf of Mexico)			Africa and Europe, Continuing Operations			Middle East and Asia			Latin America			Total
For the year ended December 31, 2020
Operating Revenues:
Time charter	$	9,873		$	47,723		$	52,052		$	23,806		$	133,454
Bareboat charter		2,910			(55	)		—			—			2,855
Other		2,422			(135	)		2,157			1,084			5,528
		15,205			47,533			54,209			24,890			141,837
Direct Costs and Expenses:
Operating:
Personnel	$	10,065		$	13,397		$	18,188		$	6,698		$	48,348
Repairs and maintenance		1,655			5,643			5,232			2,131			14,661
Drydocking		1,167			2,014			759			329			4,269
Insurance and loss reserves		1,774			1,806			1,721			462			5,763
Fuel, lubes and supplies		1,172			3,260			2,706			990			8,128
Other		373			1,343			6,891			1,369			9,976
		16,206			27,463			35,497			11,979			91,145
Direct Vessel (Loss) Profit	$	(1,001	)	$	20,070		$	18,712		$	12,911		$	50,692
Other Costs and Expenses:
Lease expense	$	4,272		$	3,038		$	170		$	45		$	7,525
Administrative and general														40,051
Depreciation and amortization	$	21,427		$	13,664		$	16,595		$	5,481			57,167
														104,743
Loss on asset dispositions and    impairments, net														(17,588	)
Operating loss													$	(71,639	)
As of December 31, 2020
Property and Equipment:
Historical cost	$	257,592		$	262,998		$	361,514		$	130,769		$	1,012,873
Accumulated depreciation		(134,391	)		(68,486	)		(75,349	)		(13,312	)		(291,538	)
	$	123,201		$	194,512		$	286,165		$	117,457		$	721,335
Total Assets(1)	$	164,656		$	227,894		$	289,314		$	179,942		$	861,806

(1) Total assets exclude $105.6 million of corporate assets, and $50.2 million of discontinued operations.

	United States (primarily Gulf of Mexico)			Africa and Europe, Continuing Operations			Middle East and Asia			Latin America			Total
For the year ended December 31, 2019
Operating Revenues:
Time charter	$	38,955		$	52,325		$	54,312		$	11,460		$	157,052
Bareboat charter		1,562			—			—			3,569			5,131
Other		3,806			5,405			1,669			1,390			12,270
		44,323			57,730			55,981			16,419			174,453
Direct Costs and Expenses:
Operating:
Personnel	$	17,491		$	17,327		$	16,698		$	4,459		$	55,975
Repairs and maintenance		7,583			5,288			7,182			1,348			21,401
Drydocking		4,594			493			600			161			5,848
Insurance and loss reserves		2,370			1,492			1,449			311			5,622
Fuel, lubes and supplies		2,936			3,726			2,904			1,056			10,622
Other		393			5,385			3,095			1,182			10,055
		35,367			33,711			31,928			8,517			109,523
Direct Vessel Profit	$	8,956		$	24,019		$	24,053		$	7,902		$	64,930
Other Costs and Expenses:
Lease expense	$	10,894		$	4,763		$	173		$	10		$	15,840
Administrative and general														39,791
Depreciation and amortization	$	21,947		$	12,614		$	16,400		$	6,205			57,166
														112,797
Loss on asset dispositions and    impairments, net														(6,461	)
Operating loss													$	(54,328	)
As of December 31, 2019
Property and Equipment:
Historical cost	$	297,392		$	251,652		$	292,446		$	57,534		$	899,024
Accumulated depreciation		(157,514	)		(62,125	)		(73,039	)		(16,239	)		(308,917	)
	$	139,878		$	189,527		$	219,407		$	41,295		$	590,107
Total Assets(1)	$	224,229		$	226,071		$	250,890		$	116,736		$	817,926

(1) Total assets exclude $145.5 million of corporate assets, and $45.7 million of discontinued operations.