SEACOR Holdings Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Major Customers And Segment Information

Major Customers And Segment Information

12 Months Ended

Dec. 31, 2017



17.	SEGMENT INFORMATION

The following tables summarize the operating results, capital expenditures and assets of the Company’s reportable segments.



	Ocean Services $’000		Inland Services $’000		Witt O’Brien’s $’000		Other $’000		Corporate and Eliminations $’000		Total $’000
For the year ended December 31, 2017
Operating Revenues:
External customers	352,876		175,496		49,055		464		—		577,891
Intersegment	—		—		101		—		(101	)	—
	352,876		175,496		49,156		464		(101	)	577,891
Costs and Expenses:
Operating	195,285		133,880		32,017		—		(301	)	360,881
Administrative and general	36,548		16,558		13,438		831		35,731		103,106
Depreciation and amortization	46,073		25,852		819		—		2,314		75,058
	277,906		176,290		46,274		831		37,744		539,045
Gains (Losses) on Asset Dispositions and Impairments, Net	(323	)	11,960		—		—		—		11,637
Operating Income (Loss)	74,647		11,166		2,882		(367	)	(37,845	)	50,483
Other Income (Expense):
Derivative gains, net	—		—		—		—		19,727		19,727
Foreign currency gains (losses), net	(130	)	272		50		6		125		323
Other, net	327		—		—		(301	)	230		256
Equity in Earnings (Losses) of 50% or Less Owned Companies, Net of Tax	7,664		(5,191	)	174		305		—		2,952
Segment Profit (Loss)	82,508		6,247		3,106		(357	)
Other Income (Expense) not included in Segment Profit											(35,584	)
Less Equity in Earnings included in Segment Profit											(2,952	)
Income Before Taxes and Equity Earnings											35,205

Capital Expenditures	80,006		34,322		60		—		207		114,595

As of December 31, 2017
Property and Equipment:
Historical cost	875,090		445,293		1,227		—		30,131		1,351,741
Accumulated depreciation	(299,528	)	(181,573	)	(938	)	—		(20,505	)	(502,544	)
	575,562		263,720		289		—		9,626		849,197
Construction in progress	25,986		2,742		—		—		—		28,728
	601,548		266,462		289		—		9,626		877,925
Investments, at Equity, and Advances to 50% or Less Owned Companies	52,003		66,479		777		54,182		—		173,441
Inventories	2,352		1,934		91		—		—		4,377
Goodwill	1,852		2,403		28,506		—		—		32,761
Intangible Assets	10,293		10,486		7,327		—		—		28,106
Other current and long-term assets, excluding cash and near cash assets⁽¹⁾	49,498		71,500		28,398		1,391		9,611		160,398
Segment Assets	717,546		419,264		65,388		55,573
Cash and near cash assets⁽¹⁾											336,328
Total Assets											1,613,336

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



	Ocean Services $’000		Inland Services $’000		Witt O’Brien’s $’000		Other $’000		Corporate and Eliminations $’000		Total $’000
For the year ended December 31, 2016
Operating Revenues:
External customers	229,643		167,543		42,797		482		—		440,465
Intersegment	—		—		119		—		(119	)	—
	229,643		167,543		42,916		482		(119	)	440,465
Costs and Expenses:
Operating	122,631		124,460		28,561		—		(397	)	275,255
Administrative and general	27,825		14,616		16,214		1,001		26,706		86,362
Depreciation and amortization	31,162		26,327		1,539		—		3,537		62,565
	181,618		165,403		46,314		1,001		29,846		424,182
Gains (Losses) on Asset Dispositions and Impairments, Net	411		3,193		(29,587	)	—		—		(25,983	)
Operating Income (Loss)	48,436		5,333		(32,985	)	(519	)	(29,965	)	(9,700	)
Other Income (Expense):
Derivative losses, net	—		—		—		—		(14,131	)	(14,131	)
Foreign currency gains (losses), net	(18	)	1,722		(181	)	(1	)	(78	)	1,444
Other, net	(6,224	)	(4	)	—		(12,608	)	120		(18,716	)
Equity in Earnings (Losses) of 50% or Less Owned Companies, Net of Tax	(4,697	)	(15,944	)	305		(704	)	—		(21,040	)
Segment Profit (Loss)	37,497		(8,893	)	(32,861	)	(13,832	)
Other Income (Expense) not included in Segment Loss											(51,133	)
Less Equity Losses included in Segment Loss											21,040
Loss Before Taxes and Equity Earnings											(92,236	)

Capital Expenditures	215,837		36,803		2		—		164		252,806

As of December 31, 2016
Property and Equipment:
Historical cost	727,602		419,714		1,559		—		29,681		1,178,556
Accumulated depreciation	(258,004	)	(167,127	)	(1,244	)	—		(18,184	)	(444,559	)
	469,598		252,587		315		—		11,497		733,997
Construction in progress	233,214		13,003		—		—		(207	)	246,010
	702,812		265,590		315		—		11,290		980,007
Investments, at Equity, and Advances to 50% or Less Owned Companies	51,620		69,181		566		54,094		—		175,461
Inventories	843		1,602		137		—		—		2,582
Goodwill	1,852		2,400		28,506		—		—		32,758
Intangible Assets	—		12,018		8,060		—		—		20,078
Other current and long-term assets, excluding cash and near cash assets⁽¹⁾	29,801		88,165		14,284		11,193		21,576		165,019
Segment Assets	786,928		438,956		51,868		65,287
Cash and near cash assets⁽¹⁾											410,777
Discontinued Operations											1,075,639
Total Assets											2,862,321

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



	Ocean Services $’000		Inland Services $’000		Witt O’Brien’s $’000		Other $’000		Corporate and Eliminations $’000		Total $’000
For the year ended December 31, 2015
Operating Revenues:
External customers	227,142		230,482		49,857		14,506		—		521,987
Intersegment	—		—		127		—		(127	)	—
	227,142		230,482		49,984		14,506		(127	)	521,987
Costs and Expenses:
Operating	129,039		168,015		21,899		13,054		(399	)	331,608
Administrative and general	26,215		15,567		24,096		2,546		32,919		101,343
Depreciation and amortization	26,296		28,632		1,711		5		3,712		60,356
	181,550		212,214		47,706		15,605		36,232		493,307
Gains (Losses) on Asset Dispositions, Net	—		14,868		(27	)	(232	)	—		14,609
Operating Income (Loss)	45,592		33,136		2,251		(1,331	)	(36,359	)	43,289
Other Income (Expense):
Derivative gains (losses), net	—		294		—		(472	)	2,099		1,921
Foreign currency losses, net	(30	)	(3,726	)	(36	)	(11	)	(922	)	(4,725	)
Other, net	2,053		—		19		33		295		2,400
Equity in Earnings (Losses) of 50% or Less Owned Companies, Net of Tax	(18,782	)	(31,200	)	135		676		—		(49,171	)
Segment Profit (Loss)	28,833		(1,496	)	2,369		(1,105	)
Other Income (Expense) not included in Segment Profit											(44,636	)
Less Equity Losses included in Segment Profit											49,171
Loss Before Taxes and Equity Earnings											(1,751	)

Capital Expenditures	134,581		69,736		409		—		(1,273	)	203,453

As of December 31, 2015
Property and Equipment
Historical cost	454,144		485,144		3,338		—		30,700		973,326
Accumulated depreciation	(239,076	)	(171,271	)	(2,834	)	—		(14,648	)	(427,829	)
	215,068		313,873		504		—		16,052		545,497
Construction in progress	335,113		17,807		—		—		(1,645	)	351,275
	550,181		331,680		504		—		14,407		896,772
Investments, at Equity, and Advances to 50% or Less Owned Companies	64,499		81,363		344		54,887		—		201,093
Inventories	701		1,493		—		—		—		2,194
Goodwill	1,852		2,364		48,124		—		—		52,340
Intangible Assets	—		5,961		19,382		—		—		25,343
Other current and long-term assets, excluding cash and near cash assets⁽¹⁾	28,359		72,180		14,780		16,014		7,014		138,347
Segment Assets	645,592		495,041		83,134		70,901
Cash and near cash assets⁽¹⁾											582,633
Discontinued operations											1,286,697
Total Assets											3,185,419

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(1)	Cash and near cash assets includes cash, cash equivalents, marketable securities and construction reserve funds.