Discontinued Operations (Notes)

9 Months Ended

Sep. 30, 2019

Discontinued Operations and Disposal Groups [Abstract]

Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]

DISCONTINUED OPERATIONS

On March 1, 2018, we closed a series of related transactions that resulted in the disposition of our Offshore Division. As a result, we have accounted for our Offshore Division, consisting of our Offshore Services and Maritech segments, as discontinued operations and have revised prior period financial statements to exclude these businesses from continuing operations. During the three months ended September 30, 2019, as a result of the bankruptcy filing of Epic Companies, LLC, we recorded a reserve for the full amount of certain other receivables of discontinued operations in the amount of $1.5 million and for the full amount of a $7.5 million promissory note, including accrued interest, that we received as part of the consideration for the sale. See Note H - "Commitments and Contingencies" for further discussion. A summary of financial information related to our discontinued operations is as follows:

Reconciliation of the Line Items Constituting Pretax Loss from Discontinued Operations to the After-Tax Loss from Discontinued Operations

(in thousands)

	Three Months Ended September 30, 2019								Three Months Ended September 30, 2018
	Offshore Services			Maritech		Total			Offshore Services			Maritech		Total
Major classes of line items constituting pretax loss from discontinued operations
Revenue	$	—		$	—	$	—		$	—		$	—	$	—
Cost of revenues	(273		)	—		(273		)	125			—		125
Depreciation, amortization, and accretion	52			—		52			—			—		—
General and administrative expense	1,734			—		1,734			192			—		192
Other (income) expense, net	117			—		117			(1,113		)	—		(1,113		)
Pretax income (loss) from discontinued operations	(1,630		)	—		(1,630		)	796			—		796
Pretax loss on disposal of discontinued operations						(7,500		)						—
Total pretax income (loss) from discontinued operations						(9,130		)						796
Income tax expense						—								—
Total income (loss) from discontinued operations						$	(9,130	)						$	796

	Nine Months Ended September 30,								Nine Months Ended September 30,
	Offshore Services			Maritech		Total			Offshore Services			Maritech			Total
Major classes of line items constituting pretax loss from discontinued operations
Revenue	$	—		$	—	$	—		$	4,487		$	187		$	4,674
Cost of revenues	(251		)	—		(251		)	11,013			139			11,152
Depreciation, amortization, and accretion	52			—		52			1,873			212			2,085
General and administrative expense	2,483			—		2,483			1,729			187			1,916
Other (income) expense, net	117			—		117			(1,035		)	—			(1,035		)
Pretax loss from discontinued operations	(2,401		)	—		(2,401		)	(9,093		)	(351		)	(9,444		)
Pretax loss on disposal of discontinued operations						(7,500		)							(33,813		)
Total pretax loss from discontinued operations						(9,901		)							(43,257		)
Income tax benefit						—									(2,326		)
Total loss from discontinued operations						$	(9,901	)							$	(40,931	)

Reconciliation of Major Classes of Assets and Liabilities of the Discontinued Operations to Amounts Presented Separately in the Statement of Financial Position

(in thousands)

	September 30, 2019						December 31, 2018
	Offshore Services		Maritech		Total		Offshore Services		Maritech		Total
Carrying amounts of major classes of assets included as part of discontinued operations
Trade receivables	$	16	$	—	$	16	$	—	$	1,340	$	1,340
Other current assets	—		—		—		14		—		14
Assets of discontinued operations	$	16	$	—	$	16	$	14	$	1,340	$	1,354
Carrying amounts of major classes of liabilities included as part of discontinued operations
Trade payables	$	901	$	—	$	901	$	740	$	—	$	740
Accrued liabilities	885		121		1,006		1,330		2,075		3,405
Liabilities of discontinued operations	$	1,786	$	121	$	1,907	$	2,070	$	2,075	$	4,145