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v3.8.0.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2017
Dec. 31, 2016
Current Assets:    
Cash and cash equivalents $ 239,246 $ 256,638
Restricted cash 2,982 2,249
Marketable securities 42,761 76,137
Receivables:    
Trade, net of allowance for doubtful accounts of $2,390 and $2,989 in 2017 and 2016, respectively 110,465 108,641
Other 33,870 35,482
Inventories 4,377 2,582
Prepaid expenses and other 6,594 3,707
Discontinued operations 0 277,365
Total current assets 440,295 762,801
Property and Equipment:    
Historical cost 1,351,741 1,178,556
Accumulated depreciation 502,544 444,559
Property, Plant and Equipment, Net In Service 849,197 733,997
Construction in progress 28,728 246,010
Net property and equipment 877,925 980,007
Investments, at Equity, and Advances to 50% or Less Owned Companies 173,441 175,461
Construction Reserve Funds 51,339 75,753
Goodwill 32,761 32,758
Intangible Assets, Net 28,106 20,078
Other Assets 9,469 17,189
Discontinued Operations 0 798,274
Total Assets 1,613,336 2,862,321
Current Liabilities:    
Current portion of long-term debt 77,842 163,202
Accounts payable and accrued expenses 44,013 59,563
Accrued wages and benefits 14,624 12,398
Accrued interest 4,209 5,036
Accrued income taxes 0 3,059
Short sales of marketable securities 0 1,274
Accrued capital, repair and maintenance expenditures 2,172 15,092
Other current liabilities 36,325 25,305
Discontinued operations 0 85,020
Total current liabilities 179,185 369,949
Long-Term Debt 501,505 631,084
Exchange Option Liability on Subsidiary Convertible Senior Notes 0 19,436
Deferred Income Taxes   157,441
Deferred Income Tax Liabilities, Net 101,422  
Deferred Gains and Other Liabilities 77,863 98,098
Discontinued Operations 0 390,045
Total liabilities 859,975 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; 38,656,505 and 37,939,032 shares issued in 2017 and 2016, respectively 387 379
Additional paid-in capital 1,573,013 1,518,635
Retained earnings 419,128 910,723
Shares held in treasury of 20,716,878 and 20,538,327 in 2017 and 2016, respectively, at cost 1,368,300 1,357,331
Accumulated other comprehensive loss, net of tax (545) (11,514)
Stockholders' equity attributable to SEACOR Holdings Inc. 623,683 1,060,892
Noncontrolling interests in subsidiaries 129,678 135,376
Total equity 753,361 1,196,268
Liabilities and stockholders' equity, total $ 1,613,336 $ 2,862,321
v3.8.0.1
Consolidated Statements Of Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Income Statement [Abstract]      
Operating Revenues $ 577,891 $ 440,465 $ 521,987
Costs and Expenses:      
Operating 360,881 275,255 331,608
Administrative and general 103,106 86,362 101,343
Depreciation and amortization 75,058 62,565 60,356
Total costs and expenses 539,045 424,182 493,307
(Gains) Losses on asset dispositions and impairments, net 11,637 (25,983) 14,609
Operating Income (Loss) 50,483 (9,700) 43,289
Other Income (Expense):      
Interest income 8,547 15,641 19,266
Interest expense (41,530) (39,804) (39,151)
Debt extinguishment gains (losses), net (819) 5,184 (28,497)
Marketable security gains (losses), net (1,782) (32,154) 3,746
Derivative gains (losses), net 19,727 (14,131) 1,921
Foreign currency gains (losses), net 323 1,444 (4,725)
Other, net 256 (18,716) 2,400
Nonoperating Income (Expense) (15,278) (82,536) (45,040)
Income (Loss) from Continuing Operations Before Income Tax Expense (Benefit) and Equity in Earnings (Losses) of 50% or Less Owned Companies 35,205 (92,236) (1,751)
Income Tax Expense (Benefit):      
Current (15,712) 12,207 21,353
Deferred (51,477) (48,932) (21,103)
Income Tax Expense (Benefit) (67,189) (36,725) 250
Income (Loss) from Continuing Operations Before Equity in Earnings (Losses) of 50% or Less Owned Companies 102,394 (55,511) (2,001)
Equity in Earnings (Losses) of 50% or Less Owned Companies 2,952 (21,040) (49,171)
Income (Loss) from Continuing Operations 105,346 (76,551) (51,172)
Loss from Discontinued Operations, Net of Tax (23,637) (119,221) (8,678)
Net Income (Loss) 81,709 (195,772) (59,850)
Net Income Attributable to Noncontrolling Interests in Subsidiaries 20,066 20,125 8,932
Net Income (Loss) attributable to SEACOR Holdings Inc. 61,643 (215,897) (68,782)
Net Income (Loss) attributable to SEACOR Holdings Inc.:      
Continuing Operations 82,849 (94,091) (53,839)
Discontinued Operations $ (21,206) $ (121,806) $ (14,943)
Basic Earnings (Loss) Per Common Share of SEACOR Holdings Inc.:      
Continuing Operations $ 4.77 $ (5.56) $ (3.09)
Discontinued Operations (1.22) (7.20) (0.85)
Basic Earnings (Loss) Per Common Share of SEACOR Holdings Inc. 3.55 (12.76) (3.94)
Diluted Earnings (Loss) Per Common Share of SEACOR Holdings Inc.:      
Continuing Operations 4.24 (5.56) (3.09)
Discontinued Operations (0.93) (7.20) (0.85)
Diluted Earnings (Loss) Per Common Share of SEACOR Holdings Inc. $ 3.31 $ (12.76) $ (3.94)
Weighted Average Common Shares Outstanding:      
Basic Weighted Average Common Shares Outstanding 17,368,081 16,914,928 17,446,137
Diluted Weighted Average Common Shares Outstanding 22,934,158 16,914,928 17,446,137
v3.8.0.1
Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Cash Flows from Operating Activities of Continuing Operations:      
Income (Loss) from Continuing Operations $ 105,346 $ (76,551) $ (51,172)
Adjustments to reconcile income (loss) from continuing operations to net cash provided by operating activities of continuing operations:      
Depreciation and amortization 75,058 62,565 60,356
Amortization of deferred gains on sale and leaseback transactions 15,035 15,073 14,322
Debt discount and issuance cost amortization, net 12,997 15,901 19,031
Amortization of share awards 32,419 13,951 14,649
Director stock awards 83 190 242
Bad debt expense (income) (175) 2,774 842
(Gains) Losses on asset dispositions and impairments, net 11,637 (25,983) 14,609
Debt extinguishment (gains) losses, net (819) 5,184 (28,497)
Marketable security (gains) losses, net (1,782) (32,154) 3,746
Purchases of marketable securities 1,720 0 35,432
Proceeds from sale of marketable securities 674 0 84,862
Derivative gains (losses), net 19,727 (14,131) 1,921
Cash settlements on derivative transactions, net (255) 327 (307)
Foreign currency gains (losses), net 323 1,444 (4,725)
Deferred income tax benefit (51,477) (48,932) (21,103)
Equity in (earnings) losses of 50% or less owned companies, net of tax (2,952) 21,040 49,171
Dividends received from 50% or less owned companies 12,891 5,162 11,322
Other, net 0 19,106 0
Changes in operating assets and liabilities:      
(Increase) decrease in receivables (2,195) 26,273 (31,703)
Increase in prepaid expenses and other assets 8,174 8,974 6,162
Increase (decrease) in accounts payable, accrued expenses and other liabilities (25,724) 9,607 (25,428)
Net cash provided by operating activities of continuing operations 107,575 39,806 131,812
Cash Flows from Investing Activities of Continuing Operations:      
Purchases of property and equipment 114,595 252,806 203,453
Proceeds from disposition of property and equipment 164,789 143,028 79,762
Investments in and advances to 50% or less owned companies 9,663 8,094 31,212
Return of investments and advances of 50% or less owned companies 15,568 9,519 46,306
Proceeds on the sale of a controlling interest in a subsidiary 5,000 0 0
Net repayments (advances) on revolving credit line to 50% or less owned companies 0 (2,397) 3,495
(Issuances of) payments received on third party leases and notes receivable, net 24,485 (2,707) 14,391
Net (increase) decrease in restricted cash 733 2,249 (16,135)
Deposits into construction reserve funds and title XI reserve funds 13,807 1,586 16,405
Withdrawals from construction reserve funds and title XI reserve funds 38,221 42,626 32,202
Business acquisitions, net of cash acquired (5,868) 20,539 0
Net cash provided by (used in) investing activities of continuing operations 115,133 (90,411) (65,769)
Cash Flows from Financing Activities of Continuing Operations:      
Payments on long-term debt and capital lease obligations 303,485 168,599 226,496
Net payments under inventory financing arrangements 0 0 (2,522)
Proceeds from Issuance of long-term debt, net of offering costs 44,900 94,379 231,843
Purchase of conversion option in convertible debt (1,354) (7,374) (2,982)
Common stock acquired for treasury 12,300 2,396 75,342
Proceeds and tax benefits from share award plans 22,597 4,911 4,094
Issuance of noncontrolling interests, net of issue costs 0 0 400
Distributions to noncontrolling interests (4) (248) (4,342)
Net cash used in financing activities of continuing operations (249,646) (79,327) (75,347)
Effects of Exchange Rate Changes on Cash and Cash Equivalents 956 (2,928) (1,974)
Net Decrease in Cash and Cash Equivalents from Continuing Operations (25,982) (132,860) (11,278)
Cash Flows from Discontinued Operations:      
Operating Activities 12,811 41,206 (16,143)
Investing Activities 2,720 (21,581) (92,615)
Financing Activities (7,149) 12,290 160,513
Effect of Exchange Rate on Cash and Cash Equivalents 208 437 (118)
Net Increase in Cash and Cash Equivalents from Discontinued Operations 8,590 32,352 51,637
Net Increase (Decrease) in Cash and Cash Equivalents (17,392) (100,508) 40,359
Cash and Cash Equivalents, Beginning of Year 256,638 357,146 316,787
Cash and Cash Equivalents, End of Year $ 239,246 $ 256,638 $ 357,146