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. Operating business segments have been defined as components 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. The Company’s segment presentation and basis of measurement of segment profit or loss are as previously described in the Company’s Annual Report on Form 10-K for the year ended December 31, 2013.

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 $’000		Other $’000		Corporate and Eliminations $’000		Total $’000
For the three months ended September 30, 2014
Operating Revenues:
External customers	135,143		59,297		51,659		53,813		39,024		—		338,936
Intersegment	35		635		—		—		—		(670	)	—
	135,178		59,932		51,659		53,813		39,024		(670	)	338,936
Costs and Expenses:
Operating	90,736		43,947		29,068		44,461		30,099		(635	)	237,676
Administrative and general	14,514		3,520		5,883		463		8,629		13,646		46,655
Depreciation and amortization	16,269		7,841		6,730		1,055		649		1,060		33,604
	121,519		55,308		41,681		45,979		39,377		14,071		317,935
Gains (Losses) on Asset Dispositions	3,219		26,429		(2	)	—		—		223		29,869
Operating Income (Loss)	16,878		31,053		9,976		7,834		(353	)	(14,518	)	50,870
Other Income (Expense):
Derivative gains (losses), net	(33	)	—		—		(2,674	)	205		(36	)	(2,538	)
Foreign currency losses, net	(1,870	)	(450	)	(27	)	—		(121	)	(591	)	(3,059	)
Other, net	—		—		123		—		42		(54	)	111
Equity in Earnings (Losses) of 50% or Less Owned Companies, Net of Tax	2,529		(95	)	(2,188	)	—		726		—		972
Segment Profit	17,504		30,508		7,884		5,160		499
Other Income (Expense) not included in Segment Profit													3,032
Less Equity Earnings included in Segment Profit													(972	)
Income Before Taxes and Equity Earnings													48,416



	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 nine months ended September 30, 2014
Operating Revenues:
External customers	402,314		171,508		157,635		185,267		60,453		—		977,177
Intersegment	112		2,390		—		—		—		(2,502	)	—
	402,426		173,898		157,635		185,267		60,453		(2,502	)	977,177
Costs and Expenses:
Operating	278,534		128,668		84,083		148,164		51,499		(2,390	)	688,558
Administrative and general	43,100		11,692		17,200		1,568		15,189		30,669		119,418
Depreciation and amortization	49,021		22,775		21,599		3,055		816		2,950		100,216
	370,655		163,135		122,882		152,787		67,504		31,229		908,192
Gains (Losses) on Asset Dispositions and Impairments, Net	14,483		28,092		(43	)	—		(409	)	(3,281	)	38,842
Operating Income (Loss)	46,254		38,855		34,710		32,480		(7,460	)	(37,012	)	107,827
Other Income (Expense):
Derivative gains (losses), net	(164	)	—		—		(3,475	)	972		(14	)	(2,681	)
Foreign currency losses, net	(441	)	(303	)	(36	)	—		(59	)	(699	)	(1,538	)
Other, net	14,739		(38	)	(3,652	)	493		(4,796	)	(77	)	6,669
Equity in Earnings (Losses) of 50% or Less Owned Companies, Net of Tax	7,414		(3,842	)	129		—		(1,020	)	—		2,681
Segment Profit (Loss)	67,802		34,672		31,151		29,498		(12,363	)
Other Income (Expense) not included in Segment Profit (Loss)													(2,955	)
Less Equity Earnings included in Segment Profit (Loss)													(2,681	)
Income Before Taxes and Equity Earnings													107,322

Capital Expenditures	63,377		48,402		180,736		2,485		148		15,946		311,094

As of September 30, 2014
Property and Equipment:
Historical cost	1,124,701		501,594		455,765		47,155		7,133		30,161		2,166,509
Accumulated depreciation	(495,272	)	(159,003	)	(207,482	)	(14,423	)	(3,827	)	(9,986	)	(889,993	)
	629,429		342,591		248,283		32,732		3,306		20,175		1,276,516
Construction in progress	71,880		29,793		181,953		195		235		306		284,362
	701,309		372,384		430,236		32,927		3,541		20,481		1,560,878
Investments, at Equity, and Advances to 50% or Less Owned Companies	110,648		90,356		204,580		—		39,242		—		444,826
Inventories	4,755		2,389		1,173		10,076		2,503		—		20,896
Goodwill	13,367		2,718		1,852		—		44,967		—		62,904
Intangible Assets	2,350		6,797		434		—		24,725		—		34,306
Other current and long-term assets, excluding cash and near cash assets⁽³⁾	140,805		58,476		19,959		12,426		86,119		21,623		339,408
Segment Assets	973,234		533,120		658,234		55,429		201,097
Cash and near cash assets⁽³⁾													827,852
Total Assets													3,291,070

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(1)	Operating revenues includes $177.2 million of tangible product sales and operating expenses includes $139.9 million of costs of goods sold.


(2)	Inventories includes raw materials of $1.8 million and work in process of $1.3 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 three months ended September 30, 2013
Operating Revenues:
External customers	156,173	51,950		48,200		52,580		27,881		—		336,784
Intersegment	25	792		—		—		—		(817	)	—
	156,198	52,742		48,200		52,580		27,881		(817	)	336,784
Costs and Expenses:
Operating	95,113	38,473		28,215		52,390		26,141		(792	)	239,540
Administrative and general	14,132	3,431		5,133		428		1,429		6,910		31,463
Depreciation and amortization	16,470	6,869		7,841		1,489		92		742		33,503
	125,715	48,773		41,189		54,307		27,662		6,860		304,506
Gains on Asset Dispositions	15,343	783		3,104		—		—		—		19,230
Operating Income (Loss)	45,826	4,752		10,115		(1,727	)	219		(7,677	)	51,508
Other Income (Expense):
Derivative gains (losses), net	32	—		—		1,129		(380	)	(1,084	)	(303	)
Foreign currency gains (losses), net	1,937	(89	)	6		—		15		361		2,230
Other, net	—	—		540		—		(3	)	(60	)	477
Equity in Earnings (Losses) of 50% or Less Owned Companies, Net of Tax	1,527	80		(1,413	)	—		36		—		230
Segment Profit (Loss)	49,322	4,743		9,248		(598	)	(113	)
Other Income (Expense) not included in Segment Profit (Loss)												(7,389	)
Less Equity Earnings included in Segment Profit (Loss)												(230	)
Income Before Taxes and Equity Earnings												46,523



	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 nine months ended September 30, 2013
Operating Revenues:
External customers	418,815		148,153		142,779		146,807		62,857		—		919,411
Intersegment	77		2,023		—		—		—		(2,100	)	—
	418,892		150,176		142,779		146,807		62,857		(2,100	)	919,411
Costs and Expenses:
Operating	282,725		110,055		84,383		145,837		59,589		(2,023	)	680,566
Administrative and general	43,194		11,376		16,434		1,566		4,408		24,848		101,826
Depreciation and amortization	49,217		21,031		23,545		4,467		287		2,287		100,834
	375,136		142,462		124,362		151,870		64,284		25,112		883,226
Gains on Asset Dispositions and Impairments, Net	25,577		5,776		149		—		1,907		141		33,550
Operating Income (Loss)	69,333		13,490		18,566		(5,063	)	480		(27,071	)	69,735
Other Income (Expense):
Derivative gains (losses), net	357		—		—		1,641		12		(5,245	)	(3,235	)
Foreign currency losses, net	(2,160	)	(7	)	(9	)	—		(321	)	(200	)	(2,697	)
Other, net	11		—		742		—		51		(129	)	675
Equity in Earnings (Losses) of 50% or Less Owned Companies, Net of Tax	10,534		(2,306	)	(3,321	)	—		2,164		—		7,071
Segment Profit (Loss)	78,075		11,177		15,978		(3,422	)	2,386
Other Income (Expense) not included in Segment Profit (Loss)													(11,214	)
Less Equity Earnings included in Segment Profit (Loss)													(7,071	)
Loss Before Taxes, Equity Earnings and Discontinued Operations													53,264

Capital Expenditures	85,324		22,138		36,218		656		384		1,763		146,483

As of September 30, 2013
Property and Equipment:
Historical cost	1,160,334		473,349		495,877		43,812		3,992		30,951		2,208,315
Accumulated depreciation	(457,454	)	(140,747	)	(216,270	)	(10,081	)	(600	)	(10,452	)	(835,604	)
	702,880		332,602		279,607		33,731		3,392		20,499		1,372,711
Construction in progress	95,552		23,814		7,323		632		2,119		41		129,481
	798,432		356,416		286,930		34,363		5,511		20,540		1,502,192
Investments, at Equity, and Advances to 50% or Less Owned Companies	99,191		57,445		123,354		—		85,901		—		365,891
Inventories	6,187		2,277		1,794		12,856		2,328		—		25,442
Goodwill	13,367		2,759		1,852		—		—		—		17,978
Intangible Assets	4,116		8,049		1,002		29		387		—		13,583
Other current and long-term assets, excluding cash and near cash assets⁽³⁾	160,248		45,881		19,480		6,765		62,863		23,060		318,297
Segment Assets	1,081,541		472,827		434,412		54,013		156,990
Cash and near cash assets⁽³⁾													608,341
Total Assets													2,851,724

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(1)	Operating revenues includes $141.1 million of tangible product sales and operating expenses includes $140.1 million of costs of goods sold.


(2)	Inventories includes raw materials of $2.7 million and work in process of $2.1 million.


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