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Inventory

3 Months Ended

Mar. 31, 2012

INVENTORY

Our inventory consisted of the following:



	March 31,		December 31,
(in thousands)	2012		2011
Inventory:
Inventory for remotely operated vehicles	$	122,476	$	135,297
Other inventory, primarily raw materials	134,576		119,798
Total	$	257,052	$	255,095

Inventory is valued at lower of cost or market. We determine cost using the weighted-average method.

- Definition

The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income.

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