

15.	MAJOR CUSTOMERS AND SEGMENT INFORMATION

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



	Offshore Marine Services $’000		Inland River Services $’000		Shipping Services $’000		ICP⁽¹⁾⁽²⁾$’000		Other $’000		Corporate and Eliminations $’000		Total $’000
For the year ended December 31, 2013
Operating Revenues:
External customers	567,148		212,726		194,184		193,682		79,532		—		1,247,272
Intersegment	115		2,887		—		—		—		(3,002	)	—
	567,263		215,613		194,184		193,682		79,532		(3,002	)	1,247,272
Costs and Expenses:
Operating	382,045		152,527		117,283		184,649		75,254		(2,887	)	908,871
Administrative and general	60,279		15,410		22,073		2,031		6,296		35,259		141,348
Depreciation and amortization	65,424		28,461		31,299		5,797		378		3,159		134,518
	507,748		196,398		170,655		192,477		81,928		35,531		1,184,737
Gains on Asset Dispositions and Impairments, Net	28,664		6,555		240		—		1,907		141		37,507
Operating Income (Loss)	88,179		25,770		23,769		1,205		(489	)	(38,392	)	100,042
Other Income (Expense):
Derivative gains (losses), net	83		—		—		(2,078	)	210		(6,538	)	(8,323	)
Foreign currency losses, net	(2,209	)	(167	)	(14	)	—		(342	)	(619	)	(3,351	)
Other, net	3		—		760		—		12		(189	)	586
Equity in Earnings (Losses) of 50% or Less Owned Companies, Net of Tax	13,522		(7,626	)	(2,945	)	—		4,313		—		7,264
Segment Profit (Loss)	99,578		17,977		21,570		(873	)	3,704
Other Income (Expense) not included in Segment Profit													(21,322	)
Less Equity Earnings included in Segment Profit													(7,264	)
Income Before Taxes, Equity Earnings and Discontinued Operations													67,632

Capital Expenditures of Continuing Operations	111,517		37,360		43,713		1,115		385		1,811		195,901

As of December 31, 2013
Property and Equipment:
Historical cost	1,139,639		481,421		498,951		44,166		3,967		31,039		2,199,183
Accumulated depreciation	(471,590	)	(147,698	)	(223,667	)	(11,390	)	(662	)	(11,323	)	(866,330	)
	668,049		333,723		275,284		32,776		3,305		19,716		1,332,853
Construction in progress	102,452		28,855		11,324		738		113		—		143,482
	770,501		362,578		286,608		33,514		3,418		19,716		1,476,335
Investments, at Equity, and Advances to 50% or Less Owned Companies	99,160		55,411		197,145		—		89,137		—		440,853
Inventories	6,315		2,279		1,329		16,172		1,520		—		27,615
Goodwill	13,367		2,766		1,852		—		—		—		17,985
Intangible Assets	3,650		7,568		859		7		339		—		12,423
Other current and long-term assets, excluding cash and near cash assets⁽³⁾	149,239		69,267		15,097		5,409		47,584		28,785		315,381
Segment Assets	1,042,232		499,869		502,890		55,102		141,998
Cash and near cash assets⁽³⁾													825,641
Total Assets													3,116,233

______________________


(1)	Operating revenues includes $189.5 million of tangible product sales and operating expenses includes $180.5 million of costs of goods sold.


(2)	Inventories include raw materials of $1.8 million and work in process of $1.8 million.


(3)	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		Inland River Services $’000		Shipping Services $’000		ICP⁽¹⁾⁽²⁾$’000		Other $’000		Corporate and Eliminations $’000		Total $’000
For the year ended December 31, 2012
Operating Revenues:
External customers	519,707		224,409		179,928		188,650		195,603		—		1,308,297
Intersegment	110		2,152		108		—		128		(2,498	)	—
	519,817		226,561		180,036		188,650		195,731		(2,498	)	1,308,297
Costs and Expenses:
Operating	349,680		158,596		112,125		183,442		175,957		(2,331	)	977,469
Administrative and general	59,253		15,924		22,553		1,920		23,824		43,269		166,743
Depreciation and amortization	61,542		28,270		30,635		5,757		2,874		2,589		131,667
	470,475		202,790		165,313		191,119		202,655		43,527		1,275,879
Gains (Losses) on Asset Dispositions and Impairments, Net	14,876		7,666		3,128		—		(1,527	)	(156	)	23,987
Operating Income (Loss)	64,218		31,437		17,851		(2,469	)	(8,451	)	(46,181	)	56,405
Other Income (Expense):
Derivative gains (losses), net	(243	)	—		—		(856	)	910		(2,623	)	(2,812	)
Foreign currency gains, net	1,077		84		6		—		2		462		1,631
Other, net	2		(1	)	7,452		—		—		(305	)	7,148
Equity in Earnings (Losses) of 50% or Less Owned Companies, Net of Tax	5,214		(3,310	)	(4,148	)	6,154		(9,674	)	—		(5,764	)
Segment Profit (Loss)	70,268		28,210		21,161		2,829		(17,213	)
Other Income (Expense) not included in Segment Profit													(7,800	)
Less Equity Losses included in Segment Profit													5,764
Income Before Taxes, Equity Earnings and Discontinued Operations													54,572

Capital Expenditures of Continuing Operations	168,778		28,818		31,235		96		6,576		3,847		239,350

As of December 31, 2012
Property and Equipment:
Historical cost	1,158,169		491,653		506,054		43,789		8,276		30,442		2,238,383
Accumulated depreciation	(422,564	)	(127,112	)	(198,943	)	(5,679	)	(398	)	(9,107	)	(763,803	)
	735,605		364,541		307,111		38,110		7,878		21,335		1,474,580
Construction in progress	66,088		11,122		29,972		—		3,040		74		110,296
Property and Equipment	801,693		375,663		337,083		38,110		10,918		21,409		1,584,876
Investments, at Equity, and Advances to 50% or Less Owned Companies	66,805		53,844		67,023		—		84,863		—		272,535
Inventories	6,779		2,623		1,728		11,770		2,887		—		25,787
Goodwill	13,367		2,759		1,852		—		—		—		17,978
Intangible Assets	4,086		9,214		1,410		93		502		—		15,305
Other current and long-term assets, excluding cash and near cash assets⁽³⁾	139,757		75,661		14,183		6,533		72,123		33,393		341,650
Segment Assets	1,032,487		519,764		423,279		56,506		171,293
Cash and near cash assets⁽³⁾													493,786
Discontinued operations													948,877
Total Assets													3,700,794

______________________


(1)	Operating revenues includes $184.9 million of tangible product sales and operating expenses includes $185.1 million of costs of goods sold.


(2)	Inventories include raw materials of $2.4 million and work in process of $1.8 million.


(3)	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		Inland River Services $’000		Shipping Services $’000		ICP $’000		Other $’000		Corporate and Eliminations $’000		Total $’000
For the year ended December 31, 2011
Operating Revenues:
External customers	376,692		187,657		161,307		—		306,841		—		1,032,497
Intersegment	96		—		—		—		26		(122	)	—
	376,788		187,657		161,307		—		306,867		(122	)	1,032,497
Costs and Expenses:
Operating	269,203		119,499		90,708		—		266,168		(25	)	745,553
Administrative and general	47,201		11,339		18,301		256		19,370		35,305		131,772
Depreciation and amortization	48,477		23,494		30,214		—		2,830		1,858		106,873
	364,881		154,332		139,223		256		288,368		37,138		984,198
Gains (Losses) on Asset Dispositions and Impairments, Net	14,661		2,964		1,355		—		3		(144	)	18,839
Operating Income (Loss)	26,568		36,289		23,439		(256	)	18,502		(37,404	)	67,138
Other Income (Expense):
Derivative losses, net	—		—		—		—		(980	)	(29,075	)	(30,055	)
Foreign currency gains (losses), net	(3,102	)	—		(30	)	—		277		3,395		540
Other, net	278		4		307		—		950		(521	)	1,018
Equity in Earnings (Losses) of 50% or Less Owned Companies, Net of Tax	9,189		4,136		(74	)	(1,815	)	(1,528	)	—		9,908
Segment Profit (Loss)	32,933		40,429		23,642		(2,071	)	17,221
Other Income (Expense) not included in Segment Profit													(34,872	)
Less Equity Earnings included in Segment Profit													(9,908	)
Income Before Taxes, Equity Earnings and Discontinued Operations													3,769

Capital Expenditures of Continuing Operations	88,248		44,693		24,308		—		4,972		3,043		165,264

As of December 31, 2011
Property and Equipment
Historical cost	943,108		474,618		524,398		—		18,610		25,997		1,986,731
Accumulated depreciation	(372,213	)	(104,768	)	(175,978	)	—		(3,002	)	(9,592	)	(665,553	)
	570,895		369,850		348,420		—		15,608		16,405		1,321,178
Construction in progress	83,924		13,442		18,055		—		314		3,744		119,479
	654,819		383,292		366,475		—		15,922		20,149		1,440,657
Investments, at Equity, and Advances to 50% or Less Owned Companies	68,330		50,183		12,284		11,790		56,903		—		199,490
Inventories	6,449		2,422		1,671		—		2,416		—		12,958
Goodwill	13,367		4,345		1,852		—		37,138		—		56,702
Intangible Assets	5,971		7,324		1,945		—		6,288		—		21,528
Other current and long-term assets, excluding cash and near cash assets⁽¹⁾	125,472		72,565		14,131		8		137,008		29,014		378,198
Segment Assets	874,408		520,131		398,358		11,798		255,675
Cash and near cash assets⁽¹⁾													729,635
Discontinued operations													1,088,966
Total Assets													3,928,134

______________________


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

In the years ended December 31, 2013, 2012 and 2011, the Company did not earn revenues that were greater than or equal to 10% of total revenues from a single customer. For the years ended December 31, 2013, 2012 and 2011, approximately 32%, 37% and 50%, respectively, of the Company’s operating revenues were derived from its foreign operations. The Company’s foreign revenues are primarily derived from its Offshore Marine Services fleet and certain of its Inland River and Shipping Services fleets. These assets are highly mobile and regularly and routinely move between countries within a geographical region of the world. In addition, these assets may be redeployed among the geographical regions as changes in market conditions dictate. Because of this asset mobility, revenues and long-lived assets, primarily property and equipment, in any one country are not considered material. The following represents the Company’s revenues attributed by geographical region in which services are provided to customers for the years ended December 31 (in thousands):



	2013		2012		2011
Operating Revenues:
United States	$	845,056	$	823,693	$	517,120
Africa, primarily West Africa	79,991		75,484		75,497
Europe, primarily North Sea	101,834		107,766		79,210
Asia	26,203		21,039		15,973
Middle East	51,930		49,941		46,724
Brazil, Mexico, Central and South America	142,258		229,986		297,536
Other	—		388		437
	$	1,247,272	$	1,308,297	$	1,032,497

The Company’s long-lived assets are primarily its property and equipment that are employed in various geographical regions of the world. The following represents the Company’s property and equipment based upon the assets’ physical location as of December 31 (in thousands):



	2013		2012		2011
Property and Equipment:
United States	$	1,094,370	$	1,158,038	$	986,404
Africa, primarily West Africa	73,137		77,860		89,166
Europe, primarily North Sea	93,713		97,631		96,716
Asia	21,485		25,305		25,542
Middle East	61,134		99,863		70,431
Brazil, Mexico, Central and South America	132,496		126,179		172,398
	$	1,476,335	$	1,584,876	$	1,440,657