Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2012

Accounting Policies [Abstract]

Supplemental Cash Flow Information

		Year Ended December 31,
		2012		2011		2010
Interest paid, net of interest capitalized	$	68,735	$	81,000	$	68,534
Income taxes paid	$	43,111	$	11,216	$	10,071

Property, Plant and Equipment

	Estimated Useful Life		2012		2011
ROVs/Vessels	10 to 30 years	$	1,822,642	$	1,616,772
Machinery, equipment, buildings and leasehold improvements	5 to 30 years		229,154		198,240
Total property and equipment		$	2,051,796	$	1,815,012

Schedule of Goodwill

Balance at December 31, 2010 (1)	$	62,494
Other adjustments (2)		(279)
Balance at December 31, 2011		62,215
Other adjustments (2)		720
Balance at December 31, 2012	$	62,935

(1) In 2010, we fully impaired $16.7 million of goodwill associated with our Australian well intervention subsidiary (“WOSEA”) (see below).

(2) Reflects foreign currency adjustment for certain amounts of our goodwill.

Computations Of Basic And Diluted EPS

		Year Ended December 31,
		2012			2011			2010
		Income	Shares		Income	Shares		Income	Shares
Basic:
Net income (loss) applicable to Helix common shareholders	$	(46,334)		$	129,939		$	(127,102)
Less: Undistributed net income allocable to participating securities		-			(1,599)			-
Undistributed net income (loss) applicable to common shareholders		(46,334)			128,340			(127,102)
Less: (Income) loss from discontinued operations, net of tax		(23,684)			(95,221)			106,657
Add: Undistributed net income from discontinued operations allocable to participating securities		-			1,172			-
Income (loss) from continuing operations applicable to Helix common shareholders	$	(70,018)	104,449	$	34,291	104,528	$	(20,445)	103,857

Diluted:
Income (loss) from continuing operations applicable to Helix common shareholders - Basic	$	(70,018)	104,449	$	34,291	104,528	$	(20,445)	103,857
Effect of dilutive securities:
Share-based awards other than participating securities		-	-		-	64		-	-
Undistributed net income reallocated to participating securities		-	-		2	-		-	-
Convertible preferred stock		-	-		40	361		-	-
Income (loss) from continuing operations applicable to Helix common shareholders - Diluted		(70,018)			34,333			(20,445)
Income (loss) from discontinued operations, net of tax		23,684			95,221			(106,657)
Net income (loss) applicable to Helix common shareholders - Diluted	$	(46,334)	104,449	$	129,554	104,953	$	(127,102)	103,857

Excluded Securities On Diluted Shares Calculation

	2012	2010
Diluted shares (as reported)	104,449	103,857
Share-based awards	382	466
Convertible preferred stock	334	1,015
Total	105,165	105,338

Assets And Liabilities Measured At Fair Value On A Recurring Basis

		Level 1		Level 2 (1)		Level 3		Total	Valuation Technique
Assets:
Oil contracts	$	–	$	5,800	$	–	$	5,800	(c)
Foreign currency forwards		–		146		–		146	(c)
Liabilities:
Oil contracts		–		15,777		–		15,777	(c)
Fair value of long-term debt (2)		994,311		123,187		–		1,117,498	(a)
Interest rate swaps		–		521		–		521	(c)
Total net liability	$	994,311	$	133,539	$	–	$	1,127,850

(1) Unless otherwise indicated, the fair value of our Level 2 derivative instruments reflects our best estimate and is based upon exchange or over-the-counter quotations whenever they are available.  Quoted valuations may not be available due to location differences or terms that extend beyond the period for which quotations are available.  Where quotes are not available, we utilize other valuation techniques or models to estimate market values.  These modeling techniques require us to make estimations of future prices, price correlation and market volatility and liquidity based on market data.  Our actual results may differ from our estimates, and these differences could be positive or negative. 

(2) See Note 7 for additional information regarding our long-term debt.  The fair value of our long-term debt at December 31, 2012 and 2011 is as follows: 

Fair Value Of Long Term Debt

		2012				2011
		Carrying Value		Fair Value		Carrying Value		Fair Value
Term Loans (mature July 2015) (a)	$	367,181	$	368,295	$	279,750	$	279,750
Revolving Credit Facility (matures July 2015) (a)		100,000		100,000		-		-
2025 Notes (mature December 2025) (b)		3,487		3,487		300,000		300,543
2032 Notes (mature March 2032) (c)		200,000		239,320		-		-
Senior Unsecured Notes (mature January 2016)		274,960		283,209		474,960		501,083
MARAD Debt (matures February 2027) (d)		105,288		123,187		110,166		124,488
Total debt	$	1,050,916	$	1,117,498	$	1,164,876	$	1,205,864

(a) In February 2013, we repaid $293.9 million of our Term Loans and $24.5 million under our Revolving Credit Facility with the after-tax proceeds from the sale of ERT.

(b) Carrying value excludes the related unamortized debt discount of $9.6 million at December 31, 2011.  This remaining amount was repurchased by us in February 2013. 

(c) Carrying value excludes the related unamortized debt discount of $31.7 million at December 31, 2012.

(d) The estimated fair value of all debt, other than the MARAD debt, was determined using Level 1 inputs using the market approach.  The fair value of the MARAD debt was determined using a third party evaluation of the remaining average life and outstanding principal balance of the MARAD indebtedness as compared to other governmental obligations in the marketplace with similar terms.  The fair value of the MARAD Debt was estimated using Level 2 fair value inputs using the market approach.