Business Segment Information

6 Months Ended

Jun. 30, 2016

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, production and decommissioning activities. Our Subsea Products segment supplies a variety of specialty subsea hardware and related services. To improve operational efficiency, we have reorganized our Subsea Products segment into two business units – (1) manufactured products and (2) service and rentals. Manufactured products include production control umbilicals and specialty subsea hardware, while our service and rentals include tooling, subsea work systems and installation and workover control systems. This internal reorganization does not affect our segment reporting structure or the historical comparability of our segment results. 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, 2015.

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

	Three Months Ended									Six Months Ended
(in thousands)	Jun 30, 2016			Jun 30, 2015			Mar 31, 2016			Jun 30, 2016			Jun 30, 2015
Revenue
Oilfield
Remotely Operated Vehicles	$	139,641		$	216,426		$	147,621		$	287,262		$	435,873
Subsea Products	190,897			240,057			194,812			385,709			480,786
Subsea Projects	138,662			172,324			129,422			268,084			325,896
Asset Integrity	73,864			95,509			69,600			143,464			194,002
Total Oilfield	543,064			724,316			541,455			1,084,519			1,436,557
Advanced Technologies	82,475			85,987			66,889			149,364			160,518
Total	$	625,539		$	810,303		$	608,344		$	1,233,883		$	1,597,075
Income (Loss) from Operations
Oilfield
Remotely Operated Vehicles	$	18,020		$	61,294		$	26,987		$	45,007		$	123,476
Subsea Products	25,121			42,286			40,640			65,761			92,300
Subsea Projects	10,237			30,607			6,789			17,026			52,883
Asset Integrity	(805		)	4,576			434			(371		)	9,601
Total Oilfield	52,573			138,763			74,850			127,423			278,260
Advanced Technologies	5,528			6,267			593			6,121			11,287
Unallocated Expenses	(19,721		)	(37,090		)	(27,344		)	(47,065		)	(74,957		)
Total	$	38,380		$	107,940		$	48,099		$	86,479		$	214,590
Depreciation and Amortization
Oilfield
Remotely Operated Vehicles	$	34,026		$	35,661		$	33,684		$	67,710		$	72,142
Subsea Products	12,952			13,498			12,807			25,759			25,566
Subsea Projects	8,353			9,707			8,519			16,872			14,358
Asset Integrity	2,843			2,696			2,913			5,756			5,559
Total Oilfield	58,174			61,562			57,923			116,097			117,625
Advanced Technologies	806			619			734			1,540			1,261
Unallocated Expenses	999			1,302			1,124			2,123			2,600
Total	$	59,979		$	63,483		$	59,781		$	119,760		$	121,486

We determine income (loss) 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 in earnings (losses) of unconsolidated affiliates is part of our Subsea Projects segment.