Note 13 - Segment and Geographic Distribution of Operations

9 Months Ended

Sep. 30, 2021

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, 2021 and 2020. Vessel revenues 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, 2021			September 30, 2020			September 30, 2021			September 30, 2020
Revenues:
Vessel revenues:
Americas	$	24,564		$	28,705		$	74,269		$	94,608
Middle East/Asia Pacific		25,633			23,280			75,675			72,091
Europe/Mediterranean		21,197			17,716			58,413			67,827
West Africa		20,240			15,694			52,784			63,818
Other operating revenues		767			1,072			4,717			6,835
	$	92,401		$	86,467		$	265,858		$	305,179
Vessel operating profit (loss):
Americas	$	(1,770	)	$	107		$	(8,361	)	$	3,448
Middle East/Asia Pacific		(713	)		(2,222	)		(2,300	)		(2,479	)
Europe/Mediterranean		(2,866	)		(3,883	)		(12,873	)		(4,086	)
West Africa		(3,724	)		(10,168	)		(15,846	)		(19,015	)
Other operating profit		412			853			2,714			3,772
		(8,661	)		(15,313	)		(36,666	)		(18,360	)
Corporate expenses		(10,662	)		(8,438	)		(27,237	)		(27,390	)
Long-lived asset impairments		(2,167	)		(1,945	)		(2,167	)		(67,634	)
Affiliate credit loss impairment (expense) credit		—			—			1,000			(53,581	)
Affiliate guarantee obligation		—			—			—			(2,000	)
Gain (loss) on asset dispositions, net		(74	)		520			(2,954	)		7,511
Operating loss	$	(21,564	)	$	(25,176	)	$	(68,024	)	$	(161,454	)
Depreciation and amortization:
Americas	$	7,290		$	8,076		$	22,679		$	23,645
Middle East/Asia Pacific		6,370			6,332			19,771			17,504
Europe/Mediterranean		6,834			8,248			21,543			21,860
West Africa		6,609			7,330			19,759			20,484
Corporate		877			791			2,504			2,535
	$	27,980		$	30,777		$	86,256		$	86,028
Additions to properties and equipment:
Americas	$	—		$	(10	)	$	—		$	(10	)
Middle East/Asia Pacific		—			5			(42	)		1,188
Europe/Mediterranean		146			(13	)		739			913
West Africa		99			(11	)		653			667
Corporate		477			636			1,233			1,924
	$	722		$	607		$	2,583		$	4,682

The following table provides a comparison of total assets at September 30, 2021 and  December 31, 2020:

(In thousands)	September 30, 2021		December 31, 2020
Total assets:
Americas	$	293,998	$	338,649
Middle East/Asia Pacific		184,580		226,422
Europe/Mediterranean		289,123		302,214
West Africa		235,249		242,825
Corporate		120,123		141,067
	$	1,123,073	$	1,251,177