SEGMENT INFORMATION

Accounting standards require public business enterprises to report information about each of their operating business segments that exceed certain quantitative thresholds or meet certain other reporting requirements. An operating business segment has been defined as a component of an enterprise about which separate financial information is available and is evaluated regularly by the chief operating decision maker in deciding how to allocate resources and in assessing performance. Certain reclassifications of prior year information have been made to conform to the current year's reportable segment presentation as a result of the Company's presentation of discontinued operations (see Note 1). The Company’s basis of measurement of segment profit or loss is as previously described in the Company’s Annual Report on Form 10-K for the year ended December 31, 2011.

The following tables summarize the operating results, capital expenditures and assets of the Company’s reportable segments.

	Offshore Marine Services $’000		Aviation Services $’000		Inland River Services $’000		Marine Transportation Services $’000		Emergency and Crisis Services $’000		Commodity Trading and Logistics $’000		Other $’000		Corporate and Eliminations $’000		Total $’000
For the three months ended June 30, 2012
Operating Revenues:
External customers	123,359		62,983		49,750		25,704		8,456		206,745		17,425		—		494,422
Intersegment	(83	)	2		3,552		88		(17	)	—		130		(3,672	)	—
	123,276		62,985		53,302		25,792		8,439		206,745		17,555		(3,672	)	494,422
Costs and Expenses:
Operating	94,084		39,002		37,463		16,722		5,808		202,126		11,562		(3,557	)	403,210
Administrative and general	13,146		7,195		3,773		2,934		4,211		3,411		2,996		7,454		45,120
Depreciation and amortization	15,859		10,464		7,244		5,666		491		1,591		1,904		466		43,685
	123,089		56,661		48,480		25,322		10,510		207,128		16,462		4,363		492,015
Gains on Asset Dispositions, Net	624		1,077		858		—		—		—		1,860		—		4,419
Operating Income (Loss)	811		7,401		5,680		470		(2,071	)	(383	)	2,953		(8,035	)	6,826
Other Income (Expense):
Derivative gains (losses), net	—		(180	)	—		—		—		3,393		—		274		3,487
Foreign currency losses, net	(354	)	(12	)	(71	)	(3	)	(20	)	(14	)	(7	)	(511	)	(992	)
Other, net	11		—		—		49		—		—		208		175		443
Equity in Earnings (Losses) of 50% or Less Owned Companies, Net of Tax	1,001		756		439		(774	)	147		—		(518	)	—		1,051
Segment Profit (Loss)	1,469		7,965		6,048		(258	)	(1,944	)	2,996		2,636
Other Income (Expense) not included in Segment Profit																	6,824
Less Equity Earnings included in Segment Profit																	(1,051	)
Income Before Taxes, Equity Earnings and Discontinued Operations																	16,588



	Offshore Marine Services $’000	Aviation Services $’000		Inland River Services $’000		Marine Transportation Services $’000		Emergency and Crisis Services $’000		Commodity Trading and Logistics $’000	Other $’000		Corporate and Eliminations $’000		Total $’000
For the six months ended June 30, 2012
Operating Revenues:
External customers	244,297	124,035		99,646		51,900		18,619		416,441	37,369		—		992,307
Intersegment	65	2		7,146		175		35		—	130		(7,553	)	—
	244,362	124,037		106,792		52,075		18,654		416,441	37,499		(7,553	)	992,307
Costs and Expenses:
Operating	169,424	78,678		72,646		32,480		12,681		405,359	23,376		(7,322	)	787,322
Administrative and general	25,002	16,872		7,755		5,409		7,465		6,552	5,813		16,430		91,298
Depreciation and amortization	28,741	20,094		14,251		11,317		975		2,651	4,062		921		83,012
	223,167	115,644		94,652		49,206		21,121		414,562	33,251		10,029		961,632
Gains on Asset Dispositions	2,469	2,842		2,785		—		5		—	1,860		—		9,961
Operating Income (Loss)	23,664	11,235		14,925		2,869		(2,462	)	1,879	6,108		(17,582	)	40,636
Other Income (Expense):
Derivative gains (losses), net	—	(304	)	—		—		—		454	—		(782	)	(632	)
Foreign currency gains (losses), net	769	905		(93	)	6		(6	)	65	(23	)	(63	)	1,560
Other, net	11	30		—		79		—		—	208		61		389
Equity in Earnings (Losses) of 50% or Less Owned Companies, Net of Tax	2,830	(5,663	)	689		(991	)	214		6,154	(940	)	—		2,293
Segment Profit (Loss)	27,274	6,203		15,521		1,963		(2,254	)	8,552	5,353
Other Income (Expense) not included in Segment Profit															974
Less Equity Earnings included in Segment Profit															(2,293	)
Income Before Taxes, Equity Earnings and Discontinued Operations															42,927

Capital Expenditures	64,383	87,034		13,108		4,084		420		—	14,731		2,781		186,541

As of June 30, 2012
Property and Equipment	789,831	773,884		377,326		203,995		1,406		41,660	160,265		22,065		2,370,432
Investments, at Equity, and Advances to 50% or Less Owned Companies	68,081	41,882		53,859		90,626		441		—	68,985		—		323,874
Inventories⁽¹⁾	5,738	26,496		2,038		—		752		36,617	1,288		—		72,929
Goodwill	13,367	352		4,345		550		37,138		—	1,302		—		57,054
Intangible Assets	5,029	—		8,377		1,318		5,531		502	359		—		21,116
Other current and long-term assets, excluding cash and near cash assets⁽²⁾	148,525	79,699		49,890		3,691		16,629		62,889	52,950		37,974		452,247
Segment Assets	1,030,571	922,313		495,835		300,180		61,897		141,668	285,149
Cash and near cash assets⁽²⁾															544,614
Discontinued operations															3,551
Total Assets															3,845,817

______________________


(1)	Inventories for Commodity Trading and Logistics includes raw materials of $3.4 million and work in process of $2.4 million resulting from the acquisition of ICP (see Note 4).


(2)	Cash and near cash assets includes cash, cash equivalents, restricted cash, marketable securities, construction reserve funds and Title XI reserve funds.



	Offshore Marine Services $’000		Aviation Services $’000		Inland River Services $’000		Marine Transportation Services $’000	Emergency and Crisis Services $’000		Commodity Trading and Logistics $’000		Other $’000		Corporate and Eliminations $’000		Total $’000
For the three months ended June 30, 2011
Operating Revenues:
External customers	93,360		68,475		38,682		24,249	21,275		245,321		17,921		—		509,283
Intersegment	26		18		2,760		87	—		—		—		(2,891	)	—
	93,386		68,493		41,442		24,336	21,275		245,321		17,921		(2,891	)	509,283
Costs and Expenses:
Operating	68,242		42,457		28,717		13,584	12,328		237,644		9,158		(2,765	)	409,365
Administrative and general	11,078		6,229		3,166		2,146	3,555		2,202		3,210		7,584		39,170
Depreciation and amortization	12,205		12,390		5,791		5,728	498		12		2,237		469		39,330
	91,525		61,076		37,674		21,458	16,381		239,858		14,605		5,288		487,865
Gains (Losses) on Asset Dispositions and Impairments, Net	3,607		6,172		(22	)	—	—		—		544		—		10,301
Operating Income (Loss)	5,468		13,589		3,746		2,878	4,894		5,463		3,860		(8,179	)	31,719
Other Income (Expense):
Derivative gains (losses), net	—		(811	)	—		—	—		828		—		(6,618	)	(6,601	)
Foreign currency gains (losses), net	(408	)	338		—		6	(7	)	(16	)	(24	)	1,527		1,416
Other, net	—		—		3		56	2		—		—		(117	)	(56	)
Equity in Earnings (Losses) of 50% or Less Owned Companies, Net of Tax	200		1,054		666		—	—		(1,051	)	3		—		872
Segment Profit	5,260		14,170		4,415		2,940	4,889		5,224		3,839
Other Income (Expense) not included in Segment Profit																(11,922	)
Less Equity Earnings included in Segment Profit																(872	)
Income Before Taxes, Equity Earnings and Discontinued Operations																14,556



	Offshore Marine Services $’000	Aviation Services $’000		Inland River Services $’000	Marine Transportation Services $’000	Emergency and Crisis Services $’000		Commodity Trading and Logistics $’000		Other $’000		Corporate and Eliminations $’000		Total $’000
For the six months ended June 30, 2011
Operating Revenues:
External customers	173,683	124,630		82,610	41,473	50,108		439,333		35,457		—		947,294
Intersegment	47	18		5,301	175	—		—		—		(5,541	)	—
	173,730	124,648		87,911	41,648	50,108		439,333		35,457		(5,541	)	947,294
Costs and Expenses:
Operating	131,262	75,922		56,601	22,563	27,104		424,662		18,300		(5,306	)	751,108
Administrative and general	22,848	13,249		5,863	3,563	6,366		4,862		5,830		18,243		80,824
Depreciation and amortization	24,738	24,309		11,413	10,706	1,000		25		4,526		943		77,660
	178,848	113,480		73,877	36,832	34,470		429,549		28,656		13,880		909,592
Gains on Asset Dispositions and Impairments, Net	7,971	8,366		675	—			—		544		—		17,556
Operating Income (Loss)	2,853	19,534		14,709	4,816	15,638		9,784		7,345		(19,421	)	55,258
Other Income (Expense):
Derivative losses, net	—	(501	)	—	—	—		(3,922	)	—		(5,496	)	(9,919	)
Foreign currency gains (losses), net	317	691		—	22	(58	)	(21	)	(23	)	5,547		6,475
Other, net	—	—		4	56	2		—		(1	)	(295	)	(234	)
Equity in Earnings (Losses) of 50% or Less Owned Companies, Net of Tax	935	955		410	—			(1,000	)	(386	)	—		914
Segment Profit (Loss)	4,105	20,679		15,123	4,894	15,582		4,841		6,935
Other Income (Expense) not included in Segment Profit														(16,744	)
Less Equity Earnings included in Segment Profit														(914	)
Income Before Taxes, Equity Earnings and Discontinued Operations														34,836

Capital Expenditures	33,025	50,233		33,137	8,315	25		—		1,498		1,174		127,407

As of June 30, 2011
Property and Equipment	620,146	629,619		338,289	249,818	855		131		148,929		19,338		2,007,125
Investments, at Equity, and Advances to 50% or Less Owned Companies	57,697	35,341		42,378	—	—		12,929		59,676		—		208,021
Inventories	4,164	24,788		2,511	365	404		49,255		1,633		—		83,120
Goodwill	13,367	352		1,743	606	37,084		—		1,302		—		54,454
Intangible Assets	6,992	—		908	1,732	7,290		—		474		—		17,396
Other current and long-term assets, excluding cash and near cash assets⁽¹⁾	130,342	63,643		41,543	5,308	32,894		76,119		61,548		26,942		438,339
Segment Assets	832,708	753,743		427,372	257,829	78,527		138,434		273,562
Cash and near cash assets⁽¹⁾														796,088
Discontinued operations														101,219
Total Assets														3,705,762

______________________


(1)	Cash and near cash assets includes cash, cash equivalents, restricted cash, marketable securities, construction reserve funds and Title XI reserve funds.