10-Q Filing

OCEANEERING INTERNATIONAL INC CIK: 73756 Q2 2012

Filing Information

Form Type	10-Q
Accession Number	`0000073756-12-000012`
Period End Date	20120630
Filing Date	20120801
Fiscal Year	2012
Fiscal Period	Q2
XBRL Instance	oii-20120331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 67 Income Statement 61 Cash Flow Statement 58 Comprehensive Income 10

Balance Sheet 67 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, allowances for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$563.00K	USD	Point-in-time
Accounts receivable, allowances for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$594.00K	USD	Point-in-time
Common Stock, par value	`CommonStockParOrStatedValuePerShare`	$0.25	USD	Point-in-time
Common Stock, par value	`CommonStockParOrStatedValuePerShare`	$0.25	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$106.14M	USD	Point-in-time
Common Stock, shares authorized	`CommonStockSharesAuthorized`	180.00M	shares	Point-in-time
Common Stock, shares authorized	`CommonStockSharesAuthorized`	180.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$150.92M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$245.22M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$85.59M	USD	Point-in-time
Accounts receivable, net of allowances for doubtful accounts of $577 and $594	`AccountsReceivableNetCurrent`	$549.81M	USD	Point-in-time
Accounts receivable, net of allowances for doubtful accounts of $577 and $594	`AccountsReceivableNetCurrent`	$593.62M	USD	Point-in-time
Common Stock, shares issued	`CommonStockSharesIssued`	110.83M	shares	Point-in-time
Common Stock, shares issued	`CommonStockSharesIssued`	110.83M	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	2.93M	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	2.80M	shares	Point-in-time
Inventory	`InventoryNet`	$255.09M	USD	Point-in-time
Inventory	`InventoryNet`	$290.14M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$73.07M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$70.89M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$1.04B	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$984.12M	USD	Point-in-time
Property and Equipment, at cost	`PropertyPlantAndEquipmentGross`	$1.92B	USD	Point-in-time
Property and Equipment, at cost	`PropertyPlantAndEquipmentGross`	$1.77B	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$878.71M	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$953.91M	USD	Point-in-time
Net Property and Equipment	`PropertyPlantAndEquipmentNet`	$962.40M	USD	Point-in-time
Net Property and Equipment	`PropertyPlantAndEquipmentNet`	$893.31M	USD	Point-in-time
Goodwill	`Goodwill`	$331.99M	USD	Point-in-time
Goodwill	`Goodwill`	$333.47M	USD	Point-in-time
Investments in unconsolidated affiliates	`EquityMethodInvestments`	$44.92M	USD	Point-in-time
Investments in unconsolidated affiliates	`EquityMethodInvestments`	$49.61M	USD	Point-in-time
Investments in unconsolidated affiliates	`EquityMethodInvestments`	$49.61M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$140.04M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$145.32M	USD	Point-in-time
Total Other Assets	`TotalOtherAssets`	$523.11M	USD	Point-in-time
Total Other Assets	`TotalOtherAssets`	$522.23M	USD	Point-in-time
Total Assets	`Assets`	$2.52B	USD	Point-in-time
Total Assets	`Assets`	$2.40B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$111.38M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$136.84M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$335.16M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$366.22M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$59.16M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$54.83M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$501.38M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$562.23M	USD	Point-in-time
Long-term Debt	`LongTermDebtNoncurrent`	$125.00M	USD	Point-in-time
Long-term Debt	`LongTermDebtNoncurrent`	$120.00M	USD	Point-in-time
Other Long-term Liabilities	`OtherLiabilitiesNoncurrent`	$221.21M	USD	Point-in-time
Other Long-term Liabilities	`OtherLiabilitiesNoncurrent`	$212.99M	USD	Point-in-time
Commitments and Contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and Contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common Stock, par value $0.25; 180,000,000 shares authorized; 110,834,088 shares issued	`CommonStockValue`	$27.71M	USD	Point-in-time
Common Stock, par value $0.25; 180,000,000 shares authorized; 110,834,088 shares issued	`CommonStockValue`	$27.71M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$202.62M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$206.88M	USD	Point-in-time
Treasury stock; 2,531,039 and 2,799,118 shares, at cost	`TreasuryStockValue`	$71.70M	USD	Point-in-time
Treasury stock; 2,531,039 and 2,799,118 shares, at cost	`TreasuryStockValue`	$84.18M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$1.51B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$1.43B	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-40.63M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-27.19M	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	$1.56B	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	$1.62B	USD	Point-in-time
Total Liabilities and Sharesholders' Equity	`LiabilitiesAndStockholdersEquity`	$2.52B	USD	Point-in-time
Total Liabilities and Sharesholders' Equity	`LiabilitiesAndStockholdersEquity`	$2.40B	USD	Point-in-time

Income Statement 61 line items

Line Item	Tag	Value	Unit	Period
Revenue	`Revenues`	$1.02B	USD	2 Qtrs
Revenue	`Revenues`	$1.27B	USD	2 Qtrs
Revenue	`Revenues`	$545.84M	USD	1 Quarter
Revenue	`Revenues`	$672.54M	USD	1 Quarter
Cost of services and products	`CostOfGoodsAndServicesSold`	$982.98M	USD	2 Qtrs
Cost of services and products	`CostOfGoodsAndServicesSold`	$791.34M	USD	2 Qtrs
Cost of services and products	`CostOfGoodsAndServicesSold`	$419.72M	USD	1 Quarter
Cost of services and products	`CostOfGoodsAndServicesSold`	$511.39M	USD	1 Quarter
Gross Margin	`GrossProfit`	$284.46M	USD	2 Qtrs
Gross Margin	`GrossProfit`	$126.12M	USD	1 Quarter
Gross Margin	`GrossProfit`	$161.16M	USD	1 Quarter
Gross Margin	`GrossProfit`	$224.92M	USD	2 Qtrs
Selling, general and administrative expense	`SellingGeneralAndAdministrativeExpense`	$98.43M	USD	2 Qtrs
Selling, general and administrative expense	`SellingGeneralAndAdministrativeExpense`	$51.11M	USD	1 Quarter
Selling, general and administrative expense	`SellingGeneralAndAdministrativeExpense`	$44.44M	USD	1 Quarter
Selling, general and administrative expense	`SellingGeneralAndAdministrativeExpense`	$82.18M	USD	2 Qtrs
Income from Operations	`OperatingIncomeLoss`	$75.99M	USD	1 Quarter
Income from Operations	`OperatingIncomeLoss`	$110.05M	USD	1 Quarter
Income from Operations	`OperatingIncomeLoss`	$81.67M	USD	1 Quarter
Income from Operations	`OperatingIncomeLoss`	$186.03M	USD	2 Qtrs
Income from Operations	`OperatingIncomeLoss`	$142.74M	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$538.00K	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$89.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$256.00K	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$194.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$1.80M	USD	2 Qtrs
Interest expense	`InterestExpense`	$359.00K	USD	2 Qtrs
Interest expense	`InterestExpense`	$1.26M	USD	1 Quarter
Interest expense	`InterestExpense`	$212.00K	USD	1 Quarter
Equity earnings of unconsolidated affiliates	`IncomeLossFromEquityMethodInvestments`	$923.00K	USD	2 Qtrs
Equity earnings of unconsolidated affiliates	`IncomeLossFromEquityMethodInvestments`	$1.90M	USD	2 Qtrs
Equity earnings of unconsolidated affiliates	`IncomeLossFromEquityMethodInvestments`	$1.43M	USD	1 Quarter
Equity earnings of unconsolidated affiliates	`IncomeLossFromEquityMethodInvestments`	$119.00K	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$-4.66M	USD	2 Qtrs
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$-3.19M	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$-217.00K	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$-358.00K	USD	2 Qtrs
Income before Income Taxes	`IncomeIncludingEquityAffiliateEarningsBeforeIncomeTaxes`	$82.76M	USD	1 Quarter
Income before Income Taxes	`IncomeIncludingEquityAffiliateEarningsBeforeIncomeTaxes`	$181.03M	USD	2 Qtrs
Income before Income Taxes	`IncomeIncludingEquityAffiliateEarningsBeforeIncomeTaxes`	$144.18M	USD	2 Qtrs
Income before Income Taxes	`IncomeIncludingEquityAffiliateEarningsBeforeIncomeTaxes`	$105.92M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$45.42M	USD	2 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$33.36M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$57.03M	USD	2 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$26.07M	USD	1 Quarter
Net Income	`ProfitLoss`	$124.01M	USD	2 Qtrs
Net Income	`ProfitLoss`	$98.76M	USD	2 Qtrs
Net Income	`ProfitLoss`	$72.55M	USD	1 Quarter
Net Income	`ProfitLoss`	$56.69M	USD	1 Quarter
Cash Dividends declared per Share	`CommonStockDividendsPerShareDeclared`	$0.15	USD	2 Qtrs
Cash Dividends declared per Share	`CommonStockDividendsPerShareDeclared`	$0.33	USD	2 Qtrs
Cash Dividends declared per Share	`CommonStockDividendsPerShareDeclared`	$0.15	USD	1 Quarter
Cash Dividends declared per Share	`CommonStockDividendsPerShareDeclared`	$0.18	USD	1 Quarter
Basic Earnings per Share	`EarningsPerShareBasic`	$0.91	USD	2 Qtrs
Basic Earnings per Share	`EarningsPerShareBasic`	$0.52	USD	1 Quarter
Basic Earnings per Share	`EarningsPerShareBasic`	$1.15	USD	2 Qtrs
Basic Earnings per Share	`EarningsPerShareBasic`	$0.67	USD	1 Quarter
Diluted Earnings per Share	`EarningsPerShareDiluted`	$0.67	USD	1 Quarter
Diluted Earnings per Share	`EarningsPerShareDiluted`	$0.91	USD	2 Qtrs
Diluted Earnings per Share	`EarningsPerShareDiluted`	$0.52	USD	1 Quarter
Diluted Earnings per Share	`EarningsPerShareDiluted`	$1.14	USD	2 Qtrs

Cash Flow Statement 58 line items

Line Item	Tag	Value	Unit	Period
Net Income	`ProfitLoss`	$124.01M	USD	2 Qtrs
Net Income	`ProfitLoss`	$98.76M	USD	2 Qtrs
Net Income	`ProfitLoss`	$72.55M	USD	1 Quarter
Net Income	`ProfitLoss`	$56.69M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$82.23M	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$73.14M	USD	2 Qtrs
Deferred income tax provision (benefit)	`DeferredIncomeTaxExpenseBenefit`	$3.82M	USD	2 Qtrs
Deferred income tax provision (benefit)	`DeferredIncomeTaxExpenseBenefit`	$-5.24M	USD	2 Qtrs
Gain on sales of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$960.00K	USD	2 Qtrs
Gain on sales of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$163.00K	USD	2 Qtrs
Noncash compensation	`ShareBasedCompensation`	$5.71M	USD	2 Qtrs
Noncash compensation	`ShareBasedCompensation`	$8.22M	USD	2 Qtrs
Distributions from unconsolidated affiliates greater than earnings	`IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions`	$-4.69M	USD	2 Qtrs
Distributions from unconsolidated affiliates greater than earnings	`IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions`	$-1.05M	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$64.47M	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$42.58M	USD	2 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$35.05M	USD	2 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$23.22M	USD	2 Qtrs
Other operating assets	`IncreaseDecreaseInOtherOperatingAssets`	$585.00K	USD	2 Qtrs
Other operating assets	`IncreaseDecreaseInOtherOperatingAssets`	$3.00M	USD	2 Qtrs
Currency translation effect on working capital	`EffectOfExchangeRateOnWorkingCapital`	$2.62M	USD	2 Qtrs
Currency translation effect on working capital	`EffectOfExchangeRateOnWorkingCapital`	$-3.07M	USD	2 Qtrs
Current liabilities	`IncreaseDecreaseInOtherCurrentLiabilities`	$-14.64M	USD	2 Qtrs
Current liabilities	`IncreaseDecreaseInOtherCurrentLiabilities`	$56.05M	USD	2 Qtrs
Other long-term liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$295.00K	USD	2 Qtrs
Other long-term liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$4.24M	USD	2 Qtrs
Total adjustments to net income	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$-13.27M	USD	2 Qtrs
Total adjustments to net income	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$62.39M	USD	2 Qtrs
Net Cash Provided by Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$85.49M	USD	2 Qtrs
Net Cash Provided by Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$186.40M	USD	2 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$108.20M	USD	2 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$151.59M	USD	2 Qtrs
Business acquisitions, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$59.56M	USD	2 Qtrs
Business acquisitions, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$9.26M	USD	2 Qtrs
Dispositions of property and equipment and equity investment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$444.00K	USD	2 Qtrs
Dispositions of property and equipment and equity investment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$4.00M	USD	2 Qtrs
Net Cash Used in Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-160.41M	USD	2 Qtrs
Net Cash Used in Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-163.76M	USD	2 Qtrs
Net payments of revolving credit facility, including new loan costs	`ProceedsFromRepaymentsOfDebt`	$3.96M	USD	2 Qtrs
Net payments of revolving credit facility, including new loan costs	`ProceedsFromRepaymentsOfDebt`	-	USD	2 Qtrs
Excess tax benefits from stock-based compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$4.52M	USD	2 Qtrs
Excess tax benefits from stock-based compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$255.00K	USD	2 Qtrs
Cash dividends	`DividendsCash`	$-16.28M	USD	2 Qtrs
Cash dividends	`DividendsCash`	$-35.67M	USD	2 Qtrs
Purchases of treasury stock	`PaymentsForRepurchaseOfCommonStock`	-	USD	2 Qtrs
Purchases of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$19.36M	USD	2 Qtrs
Net Cash Provided by (Used in) Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$-16.02M	USD	2 Qtrs
Net Cash Provided by (Used in) Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$-46.55M	USD	2 Qtrs
Net Increase (Decrease) in Cash and Cash Equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-94.30M	USD	2 Qtrs
Net Increase (Decrease) in Cash and Cash Equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-20.55M	USD	2 Qtrs
Cash and Cash Equivalents-Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$106.14M	USD	Point-in-time
Cash and Cash Equivalents-Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$150.92M	USD	Point-in-time
Cash and Cash Equivalents-Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$245.22M	USD	Point-in-time
Cash and Cash Equivalents-Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$85.59M	USD	Point-in-time
Cash and Cash Equivalents-End of Period	`CashAndCashEquivalentsAtCarryingValue`	$106.14M	USD	Point-in-time
Cash and Cash Equivalents-End of Period	`CashAndCashEquivalentsAtCarryingValue`	$150.92M	USD	Point-in-time
Cash and Cash Equivalents-End of Period	`CashAndCashEquivalentsAtCarryingValue`	$245.22M	USD	Point-in-time
Cash and Cash Equivalents-End of Period	`CashAndCashEquivalentsAtCarryingValue`	$85.59M	USD	Point-in-time

Comprehensive Income 10 line items

Line Item	Tag	Value	Unit	Period
Net Income	`ProfitLoss`	$124.01M	USD	2 Qtrs
Net Income	`ProfitLoss`	$98.76M	USD	2 Qtrs
Net Income	`ProfitLoss`	$72.55M	USD	1 Quarter
Net Income	`ProfitLoss`	$56.69M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease`	$-13.44M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease`	$28.65M	USD	1 Quarter
Total other comprehensive income	`OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecrease`	$-13.44M	USD	2 Qtrs
Total other comprehensive income	`OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecrease`	$28.65M	USD	1 Quarter
Total Comprehensive Income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$127.41M	USD	1 Quarter
Total Comprehensive Income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$110.56M	USD	2 Qtrs

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.