Business Segment Information

6 Months Ended

Jun. 30, 2015

Segment Reporting, Measurement Disclosures [Abstract]

Business Segment Information

BUSINESS SEGMENT INFORMATION

We are a global oilfield provider of engineered services and products, primarily to the offshore oil and gas industry, with a focus on deepwater applications. Through the use of our applied technology expertise, we also serve the defense, aerospace and commercial theme park industries. Our Oilfield business consists of Remotely Operated Vehicles ("ROVs"), Subsea Products, Subsea Projects and Asset Integrity. Our ROV segment provides submersible vehicles operated from the surface to support offshore oil and gas exploration, development and production activities. Our Subsea Products segment supplies a variety of specialty subsea hardware and related services. Our Subsea Projects segment provides multiservice subsea support vessels and oilfield diving and support vessel operations, primarily for inspection, maintenance and repair and installation activities. Since April 2015, we have also provided survey, autonomous underwater vehicle ("AUV") and satellite-positioning services. Our Asset Integrity segment provides asset integrity management and assessment services and nondestructive testing and inspection. Our Advanced Technologies business provides project management, engineering services and equipment for applications in non-oilfield markets. Unallocated Expenses are those not associated with a specific business segment. These consist of expenses related to our incentive and deferred compensation plans, including restricted stock and bonuses, as well as other general expenses, including corporate administrative expenses.

There are no differences in the basis of segmentation or in the basis of measurement of segment profit or loss from those used in our consolidated financial statements for the year ended December 31, 2014.

The table that follows presents Revenue and Income from Operations by business segment for each of the periods indicated.

	Three Months Ended									Six Months Ended
(in thousands)	Jun 30, 2015			Jun 30, 2014			Mar 31, 2015			Jun 30, 2015			Jun 30, 2014
Revenue
Oilfield
Remotely Operated Vehicles	$	216,426		$	268,274		$	219,447		$	435,873		$	524,093
Subsea Products	240,057			327,252			240,729			480,786			587,262
Subsea Projects	172,324			136,199			153,572			325,896			274,389
Asset Integrity	95,509			130,229			98,493			194,002			254,388
Total Oilfield	724,316			861,954			712,241			1,436,557			1,640,132
Advanced Technologies	85,987			65,453			74,531			160,518			127,476
Total	$	810,303		$	927,407		$	786,772		$	1,597,075		$	1,767,608
Income from Operations
Oilfield
Remotely Operated Vehicles	$	61,294		$	75,825		$	62,182		$	123,476		$	152,565
Subsea Products	42,286			79,497			50,014			92,300			134,013
Subsea Projects	30,607			25,863			22,276			52,883			46,400
Asset Integrity	4,576			15,915			5,025			9,601			30,000
Total Oilfield	138,763			197,100			139,497			278,260			362,978
Advanced Technologies	6,267			198			5,020			11,287			3,153
Unallocated Expenses	(37,090		)	(35,987		)	(37,867		)	(74,957		)	(71,958		)
Total	$	107,940		$	161,311		$	106,650		$	214,590		$	294,173

We determine income from operations for each business segment before interest income or expense, other income (expense) and provision for income taxes. We do not consider an allocation of these items to be practical. Our equity earnings of unconsolidated affiliates is part of our Subsea Projects segment.