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Financials

v3.7.0.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2017
Dec. 31, 2016
Current Assets:    
Cash and cash equivalents $ 223,154 $ 256,638
Restricted cash 2,260 2,249
Marketable securities 75,071 76,137
Receivables:    
Trade, net of allowance for doubtful accounts of $9,935 and $8,347 in 2017 and 2016, respectively 59,772 108,641
Other Receivables 35,704 35,482
Inventories 2,444 2,582
Prepaid expenses and other 4,814 3,707
Discontinued operations 23,105 277,365
Total current assets 426,324 762,801
Property and Equipment:    
Property, Plant and Equipment, Gross 1,340,400 1,178,556
Accumulated depreciation 467,925 444,559
Property, Plant and Equipment, Other, Net in Service 872,475 733,997
Construction in progress 133,537 246,010
Net property and equipment 1,006,012 980,007
Investments, at Equity, and Advances to 50% or Less Owned Companies 174,106 175,461
Construction Reserve Funds 65,429 75,753
Goodwill 32,749 32,758
Intangible Assets, Net 18,931 20,078
Other Assets 17,739 17,189
Discontinued Operations 32,595 798,274
Total assets 1,773,885 2,862,321
Current Liabilities:    
Current portion of long-term debt 125,655 163,202
Accounts payable and accrued expenses 32,437 59,563
Other current liabilities 49,602 62,164
Discontinued operations 6,324 85,020
Total current liabilities 214,018 369,949
Long-Term Debt 615,532 631,084
Exchange Option Liability on Subsidiary Convertible Senior Notes 0 19,436
Deferred Income Taxes 161,185 157,441
Deferred Gains and Other Liabilities 97,245 98,098
Discontinued Operations 7,681 390,045
Total liabilities 1,095,661 1,666,053
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; 38,039,909 and 37,939,032 shares issued in 2017 and 2016, respectively 382 379
Additional paid-in capital 1,547,936 1,518,635
Retained earnings 360,139 910,723
Shares held in treasury of 20,634,001 and 20,538,327 in 2017 and 2016, respectively, at cost 1,364,273 1,357,331
Accumulated other comprehensive loss, net of tax (545) (11,514)
Stockholders' equity attributable to parent, total 543,639 1,060,892
Noncontrolling interests in subsidiaries 134,585 135,376
Total equity 678,224 1,196,268
Liabilities and stockholders' equity, total $ 1,773,885 $ 2,862,321
v3.7.0.1
Condensed Consolidated Statements Of Income (Loss) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Income Statement [Abstract]        
Operating Revenues $ 115,791,000 $ 99,647,000 $ 234,205,000 $ 204,699,000
Costs and Expenses [Abstract]        
Operating 69,686,000 64,027,000 144,898,000 127,063,000
Administrative and general 25,540,000 21,361,000 48,418,000 44,037,000
Depreciation and amortization 17,469,000 15,043,000 34,188,000 30,141,000
Total costs and expenses 112,695,000 100,431,000 227,504,000 201,241,000
Gains on Asset Dispositions and Impairments, Net 5,897,000 2,586,000 5,709,000 3,183,000
Operating Loss 8,993,000 1,802,000 12,410,000 6,641,000
Other Income (Expense):        
Interest income 2,150,000 4,179,000 4,284,000 8,608,000
Interest expense 11,676,000 10,258,000 21,980,000 19,937,000
Debt extinguishment gains, net (97,000) 1,615,000 (97,000) 4,838,000
Marketable security gains (losses), net (21,674,000) (21,459,000) (838,000) (42,970,000)
Derivative gains, net 16,897,000 (2,574,000) 19,727,000 (2,665,000)
Foreign currency gains, net (1,470,000) 797,000 (71,000) 2,394,000
Other, net 424,000 (7,652,000) 4,000 (7,649,000)
Total Other Nonoperating Income (Expense) (15,446,000) (35,352,000) 1,029,000 (57,381,000)
Income (Loss) Before Income Tax Expense (Benefit) and Equity in Earnings (Losses) of 50% or Less Owned Companies (6,453,000) (33,550,000) 13,439,000 (50,740,000)
Income Tax Expense (Benefit) (3,664,000) (13,633,000) 232,000 (22,757,000)
Income (Loss) Before Equity in Earnings (Losses) of 50% or Less Owned Companies (2,789,000) (19,917,000) 13,207,000 (27,983,000)
Equity in Earnings (Losses) of 50% or Less Owned Companies, Net of Tax 2,333,000 (3,847,000) 2,441,000 (6,057,000)
Net Income (Loss) (456,000) (23,764,000) 15,648,000 (34,040,000)
Loss from Discontinued Operations, Net of Tax (28,629,000) (27,169,000) (34,077,000) (37,417,000)
Net Loss (29,085,000) (50,933,000) (18,429,000) (71,457,000)
Net Income Attributable to Noncontrolling Interests in Subsidiaries 3,723,000 4,226,000 10,296,000 10,888,000
Net Loss attributable to SEACOR Holdings Inc. $ (32,808,000) $ (55,159,000) $ (28,725,000) $ (82,345,000)
Basic Earnings (Loss) Per Common Share of SEACOR Holdings Inc.:        
Continuing operations $ (0.39) $ (1.61) $ 0.17 $ (2.63)
Discontinued operations (1.52) (1.65) (1.85) (2.25)
Basic Earnings (Loss) Per Common Share of SEACOR Holdings Inc. (1.91) (3.26) (1.68) (4.88)
Diluted Earnings (Loss) Per Common Share of SEACOR Holdings Inc.:        
Continuing operations (0.39) (1.61) 0.17 (2.63)
Discontinued operations (1.52) (1.65) (1.82) (2.25)
Diluted Earnings (Loss) Per Common Share of SEACOR Holdings Inc. $ (1.91) $ (3.26) $ (1.65) $ (4.88)
Weighted Average Common Shares Outstanding:        
Basic 17,207,831 16,928,722 17,141,306 16,873,045
Diluted 17,207,831 16,928,722 17,440,361 16,873,045
v3.7.0.1
Condensed Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Statement of Cash Flows [Abstract]    
Net Cash Provided by Operating Activities $ 77,351 $ 46,268
Cash Flows from Investing Activities    
Purchases of property and equipment 80,987 155,990
Proceeds from disposition of property and equipment 19,817 142,020
Investments in and advances to 50% or less owned companies 7,284 4,264
Return of investments and advances from 50% or less owned companies 3,940 7,559
Net repayments on revolving credit line to 50% or less owned companies 0 (1,099)
(Issuances of) payments received on third party leases and notes receivable, net (580) 1,584
Net increase in restricted cash 11 1,742
Decrease in construction reserve funds 20,124 11,810
Increase in construction reserve funds 9,800 0
Net cash used in investing activities (54,781) (122)
Cash Flows from Financing Activities    
Payments on long-term debt and capital lease obligations 88,049 91,201
Proceeds from issuance of long term debt, net of issue costs 27,900 54,379
Purchase of conversion option in convertible debt 1,220 4,990
Common stock acquired for treasury 7,569 2,396
Proceeds and tax benefits from share award plans 7,999 1,249
Distributions to noncontrolling interests 0 (196)
Net cash used in financing activities (60,939) (43,155)
Effect of Exchange Rate Changes on Cash and Cash Equivalents 913 (1,571)
Net Increase (Decrease) in Cash and Cash Equivalents from Continuing Operations (37,456) 1,420
Cash Flows from Discontinued Operations:    
Operating Activities 26,686 (11,752)
Investing Activities (15,773) 26,075
Financing Activities (7,149) (5,680)
Effects of Exchange Rate Changes on Cash and Cash Equivalents 208 483
Net Increase in Cash and Cash Equivalents from Discontinued Operations 3,972 9,126
Net Increase (Decrease) in Cash and Cash Equivalents (33,484) 10,546
Cash and Cash Equivalents, Beginning of Period 256,638 357,146
Cash and Cash Equivalents, End of Period $ 223,154 $ 367,692