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v3.5.0.2
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2016
Dec. 31, 2015
Current Assets:    
Cash and cash equivalents $ 471,180 $ 530,009
Restricted cash 3,364 0
Marketable securities 78,717 138,200
Receivables:    
Trade, net of allowance for doubtful accounts of $2,611 and $2,483 in 2016 and 2015, respectively 148,358 159,076
Other Receivables 32,452 27,217
Inventories 16,047 24,768
Prepaid expenses and other 9,500 8,627
Total current assets 759,618 887,897
Property and Equipment:    
Property, Plant and Equipment, Gross 2,128,010 2,123,201
Accumulated depreciation 1,008,629 994,181
Property, Plant and Equipment, Other, Net in Service 1,119,381 1,129,020
Construction in progress 464,660 454,605
Net property and equipment 1,584,041 1,583,625
Investments, at Equity, and Advances to 50% or Less Owned Companies 331,063 331,103
Construction Reserve Funds 161,865 255,408
Goodwill 52,403 52,340
Intangible Assets, Net 23,496 26,392
Other Assets 41,647 48,654
Total assets 2,954,133 3,185,419
Current Liabilities:    
Current portion of long-term debt 28,228 35,531
Accounts payable and accrued expenses 70,032 71,952
Other current liabilities 96,324 92,677
Total current liabilities 194,584 200,160
Long-Term Debt 1,013,691 1,034,859
Exchange Option Liability on Subsidiary Convertible Senior Notes 8,938 5,611
Deferred Income Taxes 307,353 389,988
Deferred Gains and Other Liabilities 148,085 163,862
Total liabilities 1,672,651 1,794,480
SEACOR Holdings Inc. stockholders’ equity:    
Preferred stock, $.01 par value, 10,000,000 shares authorized; none issued nor outstanding 0 0
Common stock, $.01 par value, 60,000,000 shares authorized; 37,874,080 and 37,684,829 shares issued in 2016 and 2015, respectively 379 377
Additional paid-in capital 1,512,209 1,505,942
Retained earnings 1,004,472 1,126,620
Shares held in treasury of 20,538,327 and 20,529,929 in 2016 and 2015, respectively, at cost 1,357,331 1,356,499
Accumulated other comprehensive loss, net of tax (10,471) (5,620)
Stockholders' equity attributable to parent, total 1,149,258 1,270,820
Noncontrolling interests in subsidiaries 132,224 120,119
Total equity 1,281,482 1,390,939
Liabilities and stockholders' equity, total $ 2,954,133 $ 3,185,419
v3.5.0.2
Condensed Consolidated Statements Of Income - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Income Statement [Abstract]        
Operating Revenues $ 206,983,000 $ 261,852,000 $ 617,949,000 $ 804,105,000
Costs and Expenses [Abstract]        
Operating 146,796,000 175,985,000 448,146,000 582,876,000
Administrative and general 32,245,000 37,892,000 102,124,000 115,453,000
Depreciation and amortization 31,132,000 31,018,000 93,482,000 94,527,000
Total costs and expenses 210,173,000 244,895,000 643,752,000 792,856,000
Gains (Losses) on Asset Dispositions and Impairments, Net (29,826,000) 11,264,000 (47,380,000) 10,804,000
Operating Income (Loss) (33,016,000) 28,221,000 (73,183,000) 22,053,000
Other Income (Expense):        
Interest income 5,277,000 5,065,000 15,890,000 14,118,000
Interest expense 12,504,000 10,894,000 37,273,000 31,797,000
Debt extinguishment gains (losses), net 557,000 (434,000) 5,395,000 (29,970,000)
Marketable security losses, net (7,865,000) (4,604,000) (56,912,000) (3,476,000)
Derivative losses, net (1,174,000) (725,000) (109,000) (2,295,000)
Foreign currency losses, net (666,000) (4,057,000) (651,000) (3,614,000)
Other, net (5,460,000) 1,773,000 (12,844,000) 6,162,000
Total Other Nonoperating Income (Expense) (21,835,000) (13,876,000) (86,504,000) (50,872,000)
Income (Loss) Before Income Tax Expense (Benefit) and Equity in Earnings (Losses) of 50% or Less Owned Companies (54,851,000) 14,345,000 (159,687,000) (28,819,000)
Income Tax Expense (Benefit) (21,147,000) 3,063,000 (61,737,000) (8,736,000)
Income (Loss) Before Equity in Earnings (Losses) of 50% or Less Owned Companies (33,704,000) 11,282,000 (97,950,000) (20,083,000)
Equity in Earnings (Losses) of 50% or Less Owned Companies, Net of Tax (322,000) 5,123,000 (7,533,000) 10,086,000
Net Income (Loss) (34,026,000) 16,405,000 (105,483,000) (9,997,000)
Net Income Attributable to Noncontrolling Interests in Subsidiaries 5,777,000 9,440,000 16,665,000 1,920,000
Net Income (Loss) attributable to SEACOR Holdings Inc. $ (39,803,000) $ 6,965,000 $ (122,148,000) $ (11,917,000)
Basic Earnings (Loss) Per Common Share of SEACOR Holdings Inc. $ (2.35) $ 0.40 $ (7.23) $ (0.68)
Diluted Earnings (Loss) Per Common Share of SEACOR Holdings Inc. $ (2.35) $ 0.40 $ (7.23) $ (0.68)
Weighted Average Common Shares Outstanding:        
Basic 16,943,647 17,294,927 16,896,751 17,616,035
Diluted 16,943,647 17,561,107 16,896,751 17,616,035
v3.5.0.2
Condensed Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Statement of Cash Flows [Abstract]    
Net Cash Provided by Operating Activities $ 60,242 $ 142,784
Cash Flows from Investing Activities    
Purchases of property and equipment 294,115 227,244
Cash settlements on derivative transactions, net 31 0
Proceeds from disposition of property and equipment 146,195 95,396
Investments in and advances to 50% or less owned companies 12,666 43,760
Return of investments and advances from 50% or less owned companies 8,361 47,175
Net borrowings on revolving credit line to 50% or less owned companies (1,099) 242
(Issuances of) payments received on third party leases and notes receivable, net (1,320) (4,416)
Net (increase) decrease in restricted cash 3,364 (16,435)
Net decrease in construction reserve funds (93,543) (24,552)
Net cash used in investing activities (64,496) (91,620)
Cash Flows from Financing Activities    
Payments on long-term debt and capital lease obligations 156,321 156,632
Net repayments on inventory financing arrangements 0 (2,661)
Proceeds from issuance of long term debt, net of issue costs 114,763 197,585
Purchase of conversion option in convertible debt 7,096 0
Common stock acquired for treasury 2,396 65,214
Proceeds and tax benefits from share award plans 1,618 4,103
Issuance of noncontrolling interests, net of issue costs 0 400
Distributions to noncontrolling interests (3,705) (4,717)
Net cash used in financing activities (53,137) (27,136)
Effect of Exchange Rate Changes on Cash and Cash Equivalents (1,438) (1,406)
Net Increase (Decrease) in Cash and Cash Equivalents (58,829) 22,622
Cash and Cash Equivalents, Beginning of Period 530,009 434,183
Cash and Cash Equivalents, End of Period $ 471,180 $ 456,805