10-Q Filing

OCEANEERING INTERNATIONAL INC CIK: 73756 Q1 2019

Filing Information

Form Type	10-Q
Accession Number	`0000073756-19-000027`
Period End Date	20190331
Filing Date	20190501
Fiscal Year	2019
Fiscal Period	Q1
XBRL Instance	oii-20190331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 76 Income Statement 35 Cash Flow Statement 60 Stockholders Equity 14 Comprehensive Income 8

Balance Sheet 76 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, allowances for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$6.70M	USD	Point-in-time
Accounts receivable, allowances for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$7.12M	USD	Point-in-time
Common Stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.25	USD	Point-in-time
Common Stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.25	USD	Point-in-time
Common Stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	360.00M	shares	Point-in-time
Common Stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	360.00M	shares	Point-in-time
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$334.91M	USD	Point-in-time
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$341.76M	USD	Point-in-time
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$430.32M	USD	Point-in-time
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$354.26M	USD	Point-in-time
Common Stock, shares issued (in shares)	`CommonStockSharesIssued`	110.83M	shares	Point-in-time
Common Stock, shares issued (in shares)	`CommonStockSharesIssued`	110.83M	shares	Point-in-time
Treasury stock, shares (in shares)	`TreasuryStockShares`	12.29M	shares	Point-in-time
Treasury stock, shares (in shares)	`TreasuryStockShares`	11.91M	shares	Point-in-time
Accounts receivable, net of allowances for doubtful accounts of $6,698 and $7,116	`AccountsReceivableNetCurrent`	$368.88M	USD	Point-in-time
Accounts receivable, net of allowances for doubtful accounts of $6,698 and $7,116	`AccountsReceivableNetCurrent`	$381.45M	USD	Point-in-time
Contract assets	`ContractWithCustomerAssetNetCurrent`	$221.45M	USD	Point-in-time
Contract assets	`ContractWithCustomerAssetNetCurrent`	$256.20M	USD	Point-in-time
Inventory, net	`InventoryNet`	$203.01M	USD	Point-in-time
Inventory, net	`InventoryNet`	$194.51M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$71.04M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$72.71M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$1.24B	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$1.22B	USD	Point-in-time
Property and Equipment, at cost	`PropertyPlantAndEquipmentGross`	$2.84B	USD	Point-in-time
Property and Equipment, at cost	`PropertyPlantAndEquipmentGross`	$2.86B	USD	Point-in-time
Property and Equipment, at cost	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$1.87B	USD	Point-in-time
Property and Equipment, at cost	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$1.90B	USD	Point-in-time
Net Property and Equipment	`PropertyPlantAndEquipmentNet`	$955.74M	USD	Point-in-time
Net Property and Equipment	`PropertyPlantAndEquipmentNet`	$964.67M	USD	Point-in-time
Goodwill	`Goodwill`	$421.57M	USD	Point-in-time
Goodwill	`Goodwill`	$413.12M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$191.50M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$202.32M	USD	Point-in-time
Right-of-Use Operating Lease asset	`OperatingLeaseRightOfUseAsset`	$184.65M	USD	Point-in-time
Right-of-Use Operating Lease asset	`OperatingLeaseRightOfUseAsset`	$182.31M	USD	Point-in-time
Total Other Assets	`TotalOtherAssets`	$615.44M	USD	Point-in-time
Total Other Assets	`TotalOtherAssets`	$795.39M	USD	Point-in-time
Total Assets	`Assets`	$2.97B	USD	Point-in-time
Total Assets	`Assets`	$2.82B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$102.64M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$111.74M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$309.90M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$306.93M	USD	Point-in-time
Contract liabilities	`ContractWithCustomerLiabilityCurrent`	$78.67M	USD	Point-in-time
Contract liabilities	`ContractWithCustomerLiabilityCurrent`	$85.17M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$494.74M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$500.31M	USD	Point-in-time
Long-term Debt	`LongTermDebtNoncurrent`	$786.58M	USD	Point-in-time
Long-term Debt	`LongTermDebtNoncurrent`	$790.97M	USD	Point-in-time
Long-term Operating Lease Liabilities	`OperatingLeaseLiabilityNoncurrent`	$170.19M	USD	Point-in-time
Long-term Operating Lease Liabilities	`OperatingLeaseLiabilityNoncurrent`	$166.45M	USD	Point-in-time
Other Long-term Liabilities	`OtherLiabilitiesNoncurrent`	$122.28M	USD	Point-in-time
Other Long-term Liabilities	`OtherLiabilitiesNoncurrent`	$128.38M	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 per share; 360,000,000 shares authorized; 110,834,088 shares issued	`CommonStockValue`	$27.71M	USD	Point-in-time
Common Stock, par value $0.25 per share; 360,000,000 shares authorized; 110,834,088 shares issued	`CommonStockValue`	$27.71M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$198.78M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$220.42M	USD	Point-in-time
Treasury stock; 11,905,789 and 12,294,873 shares, at cost	`TreasuryStockValue`	$681.79M	USD	Point-in-time
Treasury stock; 11,905,789 and 12,294,873 shares, at cost	`TreasuryStockValue`	$704.07M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$2.20B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$2.17B	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-333.13M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-339.38M	USD	Point-in-time
Oceaneering Shareholders' Equity	`StockholdersEquity`	$1.41B	USD	Point-in-time
Oceaneering Shareholders' Equity	`StockholdersEquity`	$1.39B	USD	Point-in-time
Noncontrolling interest	`MinorityInterest`	$6.06M	USD	Point-in-time
Noncontrolling interest	`MinorityInterest`	$6.06M	USD	Point-in-time
Total Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.39B	USD	Point-in-time
Total Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.64B	USD	Point-in-time
Total Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.66B	USD	Point-in-time
Total Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.42B	USD	Point-in-time
Total Liabilities and Equity	`LiabilitiesAndStockholdersEquity`	$2.82B	USD	Point-in-time
Total Liabilities and Equity	`LiabilitiesAndStockholdersEquity`	$2.97B	USD	Point-in-time

Income Statement 35 line items

Line Item	Tag	Value	Unit	Period
Revenue	`Revenues`	$495.10M	USD	1 Quarter
Revenue	`Revenues`	$493.89M	USD	1 Quarter
Revenue	`Revenues`	$416.41M	USD	1 Quarter
Revenue	`Revenues`	$495.10M	USD	Annual
Cost of services and products	`CostOfGoodsAndServicesSold`	$397.58M	USD	1 Quarter
Cost of services and products	`CostOfGoodsAndServicesSold`	$466.30M	USD	1 Quarter
Gross Margin	`GrossProfit`	$27.59M	USD	1 Quarter
Gross Margin	`GrossProfit`	$18.83M	USD	1 Quarter
Selling, general and administrative expense	`SellingGeneralAndAdministrativeExpense`	$45.98M	USD	1 Quarter
Selling, general and administrative expense	`SellingGeneralAndAdministrativeExpense`	$49.30M	USD	1 Quarter
Income (Loss) from Operations	`OperatingIncomeLoss`	$-27.15M	USD	1 Quarter
Income (Loss) from Operations	`OperatingIncomeLoss`	$-97.14M	USD	1 Quarter
Income (Loss) from Operations	`OperatingIncomeLoss`	$-21.71M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$2.59M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$2.60M	USD	1 Quarter
Interest expense, net of amounts capitalized	`InterestExpense`	$9.42M	USD	1 Quarter
Interest expense, net of amounts capitalized	`InterestExpense`	$9.37M	USD	1 Quarter
Equity in income (losses) of unconsolidated affiliates	`IncomeLossFromEquityMethodInvestments`	$-164.00K	USD	1 Quarter
Equity in income (losses) of unconsolidated affiliates	`IncomeLossFromEquityMethodInvestments`	$-843.00K	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$719.00K	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$-8.47M	USD	1 Quarter
Income (Loss) Before Income Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-43.24M	USD	1 Quarter
Income (Loss) Before Income Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-27.98M	USD	1 Quarter
Provision (benefit) for income taxes	`IncomeTaxExpenseBenefit`	$5.89M	USD	1 Quarter
Provision (benefit) for income taxes	`IncomeTaxExpenseBenefit`	$-3.15M	USD	1 Quarter
Net Income (Loss)	`ProfitLoss`	$-24.83M	USD	1 Quarter
Net Income (Loss)	`ProfitLoss`	$-49.13M	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	98.38M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	98.71M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	98.38M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	98.71M	shares	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$-0.25	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$-0.50	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$-0.50	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$-0.25	USD	1 Quarter

Cash Flow Statement 60 line items

Line Item	Tag	Value	Unit	Period
Net Income (Loss)	`ProfitLoss`	$-24.83M	USD	1 Quarter
Net Income (Loss)	`ProfitLoss`	$-49.13M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$128.92M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$52.49M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$54.13M	USD	1 Quarter
Deferred income tax provision (benefit)	`DeferredIncomeTaxExpenseBenefit`	$2.82M	USD	1 Quarter
Deferred income tax provision (benefit)	`DeferredIncomeTaxExpenseBenefit`	$-2.91M	USD	1 Quarter
Net loss (gain) on sales of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-37.00K	USD	1 Quarter
Net loss (gain) on sales of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$11.00K	USD	1 Quarter
Noncash compensation	`ShareBasedCompensation`	$2.98M	USD	1 Quarter
Noncash compensation	`ShareBasedCompensation`	$2.81M	USD	1 Quarter
Accounts receivable and contract assets	`IncreaseDecreaseinAccountsReceivableandContractAssets`	$-22.18M	USD	1 Quarter
Accounts receivable and contract assets	`IncreaseDecreaseinAccountsReceivableandContractAssets`	$-20.82M	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$2.98M	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$15.03M	USD	1 Quarter
Other operating assets	`IncreaseDecreaseInOtherOperatingAssets`	$-6.54M	USD	1 Quarter
Other operating assets	`IncreaseDecreaseInOtherOperatingAssets`	$-1.01M	USD	1 Quarter
Currency translation effect on working capital, excluding cash	`EffectOfExchangeRateOnWorkingCapital`	$5.56M	USD	1 Quarter
Currency translation effect on working capital, excluding cash	`EffectOfExchangeRateOnWorkingCapital`	$371.00K	USD	1 Quarter
Current liabilities	`IncreaseDecreaseInOtherCurrentLiabilities`	$-41.19M	USD	1 Quarter
Current liabilities	`IncreaseDecreaseInOtherCurrentLiabilities`	$-15.06M	USD	1 Quarter
Other operating liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$6.22M	USD	1 Quarter
Other operating liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$-2.08M	USD	1 Quarter
Total adjustments to net income	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$54.75M	USD	1 Quarter
Total adjustments to net income	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$43.95M	USD	1 Quarter
Net Cash Provided by Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$19.12M	USD	1 Quarter
Net Cash Provided by Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$5.62M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$29.96M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$25.73M	USD	1 Quarter
Business acquisitions, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$68.00M	USD	Point-in-time
Business acquisitions, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	-	USD	1 Quarter
Business acquisitions, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$68.40M	USD	1 Quarter
Other investing activities	`PaymentsForProceedsFromOtherInvestingActivities`	-	USD	1 Quarter
Other investing activities	`PaymentsForProceedsFromOtherInvestingActivities`	$-202.00K	USD	1 Quarter
Distributions of capital from unconsolidated affiliates	`ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital`	-	USD	1 Quarter
Distributions of capital from unconsolidated affiliates	`ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital`	$1.58M	USD	1 Quarter
Dispositions of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	-	USD	1 Quarter
Dispositions of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$50.00K	USD	1 Quarter
Net Cash Used in Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-29.91M	USD	1 Quarter
Net Cash Used in Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-92.35M	USD	1 Quarter
Net proceeds from issuance of 6.000% Senior Notes, net of issuance costs	`ProceedsFromIssuanceOfLongTermDebt`	$295.88M	USD	1 Quarter
Net proceeds from issuance of 6.000% Senior Notes, net of issuance costs	`ProceedsFromIssuanceOfLongTermDebt`	-	USD	1 Quarter
Repayment of term loan facility	`RepaymentsOfLongTermDebt`	$300.00M	USD	1 Quarter
Repayment of term loan facility	`RepaymentsOfLongTermDebt`	-	USD	1 Quarter
Other financing activities	`ProceedsFromPaymentsForOtherFinancingActivities`	$-1.64M	USD	1 Quarter
Other financing activities	`ProceedsFromPaymentsForOtherFinancingActivities`	$-2.34M	USD	1 Quarter
Net Cash Used in Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$-2.34M	USD	1 Quarter
Net Cash Used in Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$-5.76M	USD	1 Quarter
Effect of exchange rates on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$632.00K	USD	1 Quarter
Effect of exchange rates on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-2.92M	USD	1 Quarter
Net Increase (Decrease) in Cash and Cash Equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-95.41M	USD	1 Quarter
Net Increase (Decrease) in Cash and Cash Equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-12.50M	USD	1 Quarter
Cash and Cash EquivalentsBeginning of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$334.91M	USD	Point-in-time
Cash and Cash EquivalentsBeginning of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$341.76M	USD	Point-in-time
Cash and Cash EquivalentsBeginning of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$430.32M	USD	Point-in-time
Cash and Cash EquivalentsBeginning of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$354.26M	USD	Point-in-time
Cash and Cash EquivalentsEnd of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$334.91M	USD	Point-in-time
Cash and Cash EquivalentsEnd of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$341.76M	USD	Point-in-time
Cash and Cash EquivalentsEnd of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$430.32M	USD	Point-in-time
Cash and Cash EquivalentsEnd of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$354.26M	USD	Point-in-time

Stockholders Equity 14 line items

Line Item	Tag	Value	Unit	Period
Beginning balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.39B	USD	Point-in-time
Beginning balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.64B	USD	Point-in-time
Beginning balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.66B	USD	Point-in-time
Beginning balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.42B	USD	Point-in-time
Net loss	`ProfitLoss`	$-24.83M	USD	1 Quarter
Net loss	`ProfitLoss`	$-49.13M	USD	1 Quarter
Other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$22.18M	USD	1 Quarter
Other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$6.25M	USD	1 Quarter
Non controlling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	-	USD	1 Quarter
Non controlling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	-	USD	1 Quarter
Ending balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.39B	USD	Point-in-time
Ending balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.64B	USD	Point-in-time
Ending balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.66B	USD	Point-in-time
Ending balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.42B	USD	Point-in-time

Comprehensive Income 8 line items

Line Item	Tag	Value	Unit	Period
Net Income (Loss)	`ProfitLoss`	$-24.83M	USD	1 Quarter
Net Income (Loss)	`ProfitLoss`	$-49.13M	USD	1 Quarter
Foreign Currency Translation Adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$22.18M	USD	1 Quarter
Foreign Currency Translation Adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$6.25M	USD	1 Quarter
Total other comprehensive income	`OtherComprehensiveIncomeLossNetOfTax`	$22.18M	USD	1 Quarter
Total other comprehensive income	`OtherComprehensiveIncomeLossNetOfTax`	$6.25M	USD	1 Quarter
Comprehensive Income (Loss)	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$-18.58M	USD	1 Quarter
Comprehensive Income (Loss)	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$-26.96M	USD	1 Quarter

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