SEGMENT AND GEOGRAPHIC DISTRIBUTION OF OPERATIONS (Tables)

9 Months Ended

Sep. 30, 2019

Segment Information, Geographical Data and Major Customers

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, 2019 and 2018. Vessel revenues and operating costs relate to vessels owned and operated by us while other operating revenues relate to brokered vessels and other miscellaneous marine-related businesses.

	Three Months Ended						Nine Months Ended
(In thousands)	September 30, 2019			September 30, 2018			September 30, 2019			September 30, 2018
Revenues:
Vessel revenues:
Americas	$	33,147			28,039			103,624			86,721
Middle East/Asia Pacific		22,765			19,927			63,670			60,721
Europe/Mediterranean Sea		30,946			12,566			94,531			35,546
West Africa		30,315			36,479			98,651			105,691
Other operating revenues		2,592			2,181			7,296			7,607
	$	119,765			99,192			367,772			296,286
Vessel operating profit (loss) (A):
Americas	$	(168	)		1,212			1,702			11,804
Middle East/Asia Pacific		(809	)		(701	)		(4,098	)		(2,329	)
Europe/Mediterranean Sea		(276	)		(2,056	)		(768	)		(6,753	)
West Africa		678			3,912			11,891			3,867
Other operating profit		2,052			485			5,381			2,767
		1,477			2,852			14,108			9,356
Corporate expenses (A) (B)		(19,074	)		(9,514	)		(46,496	)		(24,208	)
Gain (loss) on asset dispositions, net		270			(1,571	)		1,047			1,686
Asset impairments (C)		(5,224	)		(16,853	)		(5,224	)		(24,254	)
Operating loss	$	(22,551	)		(25,086	)		(36,565	)		(37,420	)
Depreciation and amortization:
Americas	$	6,929			3,858			19,706			10,700
Middle East/Asia Pacific		5,685			2,939			15,454			8,552
Europe/Mediterranean Sea		7,436			2,313			22,623			6,356
West Africa		5,335			4,176			14,876			12,269
Other		5			5			15			16
Corporate		345			99			1,031			299
	$	25,735			13,390			73,705			38,192
Additions to properties and equipment:
Americas	$	326			564			967			2,831
Middle East/Asia Pacific		594			568			4,231			2,064
Europe/Mediterranean Sea		1,847			—			3,070			134
West Africa		684			54			2,267			35
Corporate		1,632			2,155			3,396			4,052
	$	5,083			3,341			13,931			9,116

(A)

Prior to January 1, 2019, we allocated the costs of certain marine operations related to general and administrative functions, such as marine management, engineering, supply chain management, risk management, fleet human resources and health and safety to the segment general and administrative expenses. Beginning on January 1, 2019 our management elected to modify that process in order to better analyze costs and better align the policies of the two combined companies such that all costs related to those previously allocated functions will remain as corporate general and administrative expenses. This change explains the significant increase in corporate expenses that is reflected in the table above for the three and nine months ended September 30, 2019.

(B)

Included in corporate expenses for the nine months ended September 30, 2019 was a $5.0 million charge for integration costs related to the business combination with GulfMark.

(C)

Refer to Note (14) for additional information regarding asset impairment charges.

Comparison of Total Assets

The following table provides a comparison of total assets at September 30, 2019 and December 31, 2018:

	September 30,		December 31,
(In thousands)	2019		2018
Total assets:
Americas	$	352,594		380,168
Middle East/Asia Pacific		268,754		233,611
Europe/Mediterranean Sea		382,094		316,524
West Africa		392,109		483,234
Other		4,238		7,440
Investments in, at equity, and advances to unconsolidated companies		0		1,039
Corporate		354,232		405,723
	$	1,754,021	$	1,827,739