Note 13 - Segment and Geographic Distribution of Operations

9 Months Ended

Sep. 30, 2020

Notes to Financial Statements

Segment Reporting Disclosure [Text Block]

(13) SEGMENT AND GEOGRAPHIC DISTRIBUTION OF OPERATIONS

The following table provides a comparison of segment revenues, vessel operating profit (loss), depreciation and amortization, and additions to properties and equipment for the three and nine months ended September 30, 2020 and 2019. Vessel revenues and operating costs relate to vessels owned and operated by us while other operating revenues relate to other miscellaneous marine-related businesses.

	Three Months Ended						Nine Months Ended
(In thousands)	September 30, 2020			September 30, 2019			September 30, 2020			September 30, 2019
Revenues:
Vessel revenues:
Americas	$	28,705		$	33,147		$	94,608		$	103,624
Middle East/Asia Pacific		23,280			22,765			72,091			63,670
Europe/Mediterranean		17,716			30,946			67,827			94,531
West Africa		15,694			30,315			63,818			98,651
Other operating revenues		1,072			2,592			6,835			7,296
	$	86,467		$	119,765		$	305,179		$	367,772
Vessel operating profit (loss):
Americas	$	107		$	(168	)	$	3,448		$	1,702
Middle East/Asia Pacific		(2,222	)		(809	)		(2,479	)		(4,098	)
Europe/Mediterranean		(3,883	)		(276	)		(4,086	)		(768	)
West Africa		(10,168	)		678			(19,015	)		11,891
Other operating profit		853			2,052			3,772			5,381
		(15,313	)		1,477			(18,360	)		14,108
Corporate expenses		(8,438	)		(19,074	)		(27,390	)		(46,496	)
Long-lived asset impairments		(1,945	)		(5,224	)		(67,634	)		(5,224	)
Affiliate credit loss impairment expense		—			—			(53,581	)		—
Affiliate guarantee obligation		—			—			(2,000	)		—
Gain on asset dispositions, net		520			270			7,511			1,047
Operating loss	$	(25,176	)	$	(22,551	)	$	(161,454	)	$	(36,565	)
Depreciation and amortization:
Americas	$	8,076		$	6,929		$	23,645		$	19,706
Middle East/Asia Pacific		6,332			5,685			17,504			15,454
Europe/Mediterranean		8,248			7,436			21,860			22,623
West Africa		7,330			5,335			20,484			14,876
Corporate		791			350			2,535			1,046
	$	30,777		$	25,735		$	86,028		$	73,705
Additions to properties and equipment:
Americas	$	(10	)	$	326		$	(10	)	$	967
Middle East/Asia Pacific		5			594			1,188			4,231
Europe/Mediterranean		(13	)		1,847			913			3,070
West Africa		(11	)		684			667			2,267
Corporate		636			1,632			1,924			3,396
	$	607		$	5,083		$	4,682		$	13,931

The following table provides a comparison of total assets at September 30, 2020 and  December 31, 2019:

	September 30,		December 31,
(In thousands)	2020		2019
Total assets:
Americas	$	343,792	$	375,297
Middle East/Asia Pacific		231,514		270,413
Europe/Mediterranean		312,651		358,943
West Africa		260,121		376,087
Corporate		202,696		198,788
	$	1,350,774	$	1,579,528