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10-Q Filing

HELIX ENERGY SOLUTIONS GROUP INC CIK: 866829 Q1 2014
Filing Information
Form Type 10-Q
Accession Number 0000866829-14-000012
Period End Date 20140331
Filing Date 20140423
Fiscal Year 2014
Fiscal Period Q1
XBRL Instance hlx-20140331.xml
Filing Contents
Balance Sheet 71 line items
Line Item Tag Value Unit Period
Allowance for uncollectible accounts AllowanceForDoubtfulAccountsReceivableCurrent $2.23M USD Point-in-time
Allowance for uncollectible accounts AllowanceForDoubtfulAccountsReceivableCurrent $1.37M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $625.65M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $470.08M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $478.20M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $437.10M USD Point-in-time
Common stock, par value CommonStockNoParValue - USD Point-in-time
Common stock, par value CommonStockNoParValue - USD Point-in-time
Trade, net of allowance for uncollectible accounts of $1,371 and $2,234, respectively AccountsReceivableNetCurrent $132.22M USD Point-in-time
Trade, net of allowance for uncollectible accounts of $1,371 and $2,234, respectively AccountsReceivableNetCurrent $156.93M USD Point-in-time
Common stock, shares authorized CommonStockSharesAuthorized 240.00M shares Point-in-time
Unbilled revenue UnbilledContractsReceivable $25.73M USD Point-in-time
Common stock, shares authorized CommonStockSharesAuthorized 240.00M shares Point-in-time
Unbilled revenue UnbilledContractsReceivable $56.00M USD Point-in-time
Costs in excess of billing CostsInExcessOfBillingsOnUncompletedContractsOrPrograms $1.51M USD Point-in-time
Common stock, shares issued CommonStockSharesIssued 105.64M shares Point-in-time
Costs in excess of billing CostsInExcessOfBillingsOnUncompletedContractsOrPrograms $1.51M USD Point-in-time
Common stock, shares issued CommonStockSharesIssued 105.53M shares Point-in-time
Income tax receivable, net IncomeTaxesReceivable $25.96M USD Point-in-time
Current deferred tax assets DeferredTaxAssetsNetCurrent $51.57M USD Point-in-time
Current deferred tax assets DeferredTaxAssetsNetCurrent $19.86M USD Point-in-time
Other current assets OtherAssetsCurrent $46.76M USD Point-in-time
Other current assets OtherAssetsCurrent $29.71M USD Point-in-time
Total current assets AssetsCurrent $743.65M USD Point-in-time
Total current assets AssetsCurrent $752.38M USD Point-in-time
Property and equipment PropertyPlantAndEquipmentGross $1.96B USD Point-in-time
Property and equipment PropertyPlantAndEquipmentGross $1.97B USD Point-in-time
Less accumulated depreciation AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $431.49M USD Point-in-time
Less accumulated depreciation AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $444.88M USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $1.53B USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $1.52B USD Point-in-time
Equity investments EquityMethodInvestments $155.73M USD Point-in-time
Equity investments EquityMethodInvestments $157.92M USD Point-in-time
Goodwill Goodwill $63.34M USD Point-in-time
Goodwill Goodwill $63.23M USD Point-in-time
Other assets, net OtherAssetsNoncurrent $47.27M USD Point-in-time
Other assets, net OtherAssetsNoncurrent $66.92M USD Point-in-time
Total assets Assets $2.56B USD Point-in-time
Total assets Assets $2.54B USD Point-in-time
Accounts payable AccountsPayableCurrent $72.60M USD Point-in-time
Accounts payable AccountsPayableCurrent $96.37M USD Point-in-time
Accrued liabilities AccruedLiabilitiesCurrent $59.81M USD Point-in-time
Accrued liabilities AccruedLiabilitiesCurrent $96.48M USD Point-in-time
Income tax payable AccruedIncomeTaxesCurrent $760.00K USD Point-in-time
Current maturities of long-term debt LongTermDebtCurrent $20.38M USD Point-in-time
Current maturities of long-term debt LongTermDebtCurrent $20.51M USD Point-in-time
Total current liabilities LiabilitiesCurrent $190.22M USD Point-in-time
Total current liabilities LiabilitiesCurrent $176.69M USD Point-in-time
Long-term debt LongTermDebtNoncurrent $540.64M USD Point-in-time
Long-term debt LongTermDebtNoncurrent $545.78M USD Point-in-time
Deferred tax liabilities DeferredTaxLiabilitiesNoncurrent $265.88M USD Point-in-time
Deferred tax liabilities DeferredTaxLiabilitiesNoncurrent $270.92M USD Point-in-time
Other non-current liabilities OtherLiabilitiesNoncurrent $18.30M USD Point-in-time
Other non-current liabilities OtherLiabilitiesNoncurrent $13.75M USD Point-in-time
Total liabilities Liabilities $1.02B USD Point-in-time
Total liabilities Liabilities $1.00B USD Point-in-time
Commitments and contingencies CommitmentsAndContingencies - USD Point-in-time
Commitments and contingencies CommitmentsAndContingencies - USD Point-in-time
Common stock, no par, 240,000 shares authorized, 105,532 and 105,640 shares issued, respectively CommonStockValue $934.33M USD Point-in-time
Common stock, no par, 240,000 shares authorized, 105,532 and 105,640 shares issued, respectively CommonStockValue $933.51M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $639.95M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $586.23M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-16.28M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-20.69M USD Point-in-time
Total controlling interest shareholders' equity StockholdersEquity $1.56B USD Point-in-time
Total controlling interest shareholders' equity StockholdersEquity $1.50B USD Point-in-time
Noncontrolling interests MinorityInterest $25.06M USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.52B USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.56B USD Point-in-time
Total liabilities and shareholders' equity LiabilitiesAndStockholdersEquity $2.56B USD Point-in-time
Total liabilities and shareholders' equity LiabilitiesAndStockholdersEquity $2.54B USD Point-in-time
Income Statement 48 line items
Line Item Tag Value Unit Period
Net revenues SalesRevenueNet $253.57M USD 1 Quarter
Net revenues SalesRevenueNet $197.43M USD 1 Quarter
Cost of sales CostOfRevenue $177.73M USD 1 Quarter
Cost of sales CostOfRevenue $144.86M USD 1 Quarter
Gross profit GrossProfit $52.57M USD 1 Quarter
Gross profit GrossProfit $75.85M USD 1 Quarter
Loss on commodity derivative contracts GainLossOnCommodityDerivativeContracts $-14.11M USD 1 Quarter
Gain on sale of assets GainLossOnDispositionOfAssets $11.50M USD 1 Quarter
Selling, general and administrative expenses SellingGeneralAndAdministrativeExpense $20.39M USD 1 Quarter
Selling, general and administrative expenses SellingGeneralAndAdministrativeExpense $23.22M USD 1 Quarter
Income from operations OperatingIncomeLoss $15.24M USD 1 Quarter
Income from operations OperatingIncomeLoss $66.95M USD 1 Quarter
Equity in earnings of investments IncomeLossFromEquityMethodInvestments $610.00K USD 1 Quarter
Equity in earnings of investments IncomeLossFromEquityMethodInvestments $708.00K USD 1 Quarter
Net interest expense InterestIncomeExpenseNonoperatingNet $-10.32M USD 1 Quarter
Net interest expense InterestIncomeExpenseNonoperatingNet $-4.48M USD 1 Quarter
Loss on early extinguishment of long term debt GainsLossesOnExtinguishmentOfDebt $-2.88M USD 1 Quarter
Other expense, net OtherNonoperatingIncomeExpense $-3.68M USD 1 Quarter
Other expense, net OtherNonoperatingIncomeExpense $-810.00K USD 1 Quarter
Other income - oil and gas OtherNonoperatingIncome $2.82M USD 1 Quarter
Other income - oil and gas OtherNonoperatingIncome $12.28M USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $1.78M USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $74.64M USD 1 Quarter
Income tax provision IncomeTaxExpenseBenefit $20.42M USD 1 Quarter
Income tax provision IncomeTaxExpenseBenefit $443.00K USD 1 Quarter
Net income from continuing operations IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest $54.22M USD 1 Quarter
Net income from continuing operations IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest $1.33M USD 1 Quarter
Income from discontinued operations, net of tax IncomeLossFromDiscontinuedOperationsNetOfTax $1.06M USD 1 Quarter
Net income, including noncontrolling interests ProfitLoss $54.22M USD 1 Quarter
Net income, including noncontrolling interests ProfitLoss $2.39M USD 1 Quarter
Less net income applicable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest $503.00K USD 1 Quarter
Less net income applicable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest $777.00K USD 1 Quarter
Net income applicable to Helix NetIncomeLossAvailableToCommonStockholdersBasic $53.72M USD 1 Quarter
Net income applicable to Helix NetIncomeLossAvailableToCommonStockholdersBasic $1.61M USD 1 Quarter
Continuing operations IncomeLossFromContinuingOperationsPerBasicShare $0.01 USD 1 Quarter
Continuing operations IncomeLossFromContinuingOperationsPerBasicShare $0.51 USD 1 Quarter
Discontinued operations IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare $0.01 USD 1 Quarter
Net income per common share EarningsPerShareBasic $0.02 USD 1 Quarter
Net income per common share EarningsPerShareBasic $0.51 USD 1 Quarter
Continuing operations IncomeLossFromContinuingOperationsPerDilutedShare $0.51 USD 1 Quarter
Continuing operations IncomeLossFromContinuingOperationsPerDilutedShare $0.01 USD 1 Quarter
Discontinued operations IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare $0.01 USD 1 Quarter
Net income per common share EarningsPerShareDiluted $0.02 USD 1 Quarter
Net income per common share EarningsPerShareDiluted $0.51 USD 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 105.13M shares 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 105.03M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 105.38M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 105.17M shares 1 Quarter
Cash Flow Statement 77 line items
Line Item Tag Value Unit Period
Net income, including noncontrolling interests ProfitLoss $54.22M USD 1 Quarter
Net income, including noncontrolling interests ProfitLoss $2.39M USD 1 Quarter
Income from discontinued operations IncomeLossFromDiscontinuedOperationsNetOfTax $1.06M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $24.73M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $24.38M USD 1 Quarter
Amortization of deferred financing costs AmortizationOfFinancingCosts $1.47M USD 1 Quarter
Amortization of deferred financing costs AmortizationOfFinancingCosts $1.22M USD 1 Quarter
Stock-based compensation expense ShareBasedCompensation $1.81M USD 1 Quarter
Stock-based compensation expense ShareBasedCompensation $3.35M USD 1 Quarter
Amortization of debt discount AmortizationOfDebtDiscountPremium $1.40M USD 1 Quarter
Amortization of debt discount AmortizationOfDebtDiscountPremium $1.28M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $33.41M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $16.78M USD 1 Quarter
Excess tax from stock-based compensation ExcessTaxBenefitFromShareBasedCompensationOperatingActivities $619.00K USD 1 Quarter
Excess tax from stock-based compensation ExcessTaxBenefitFromShareBasedCompensationOperatingActivities $617.00K USD 1 Quarter
Gain on sale of assets GainLossOnDispositionOfAssets $11.50M USD 1 Quarter
Loss on early extinguishment of debt GainsLossesOnExtinguishmentOfDebt $-2.88M USD 1 Quarter
Unrealized loss and ineffectiveness on derivative contracts, net UnrealizedGainLossOnDerivatives $-969.00K USD 1 Quarter
Unrealized loss and ineffectiveness on derivative contracts, net UnrealizedGainLossOnDerivatives $-68.00K USD 1 Quarter
Accounts receivable, net IncreaseDecreaseInAccountsReceivable $5.53M USD 1 Quarter
Accounts receivable, net IncreaseDecreaseInAccountsReceivable $-3.71M USD 1 Quarter
Other current assets IncreaseDecreaseInOtherCurrentAssets $-12.58M USD 1 Quarter
Other current assets IncreaseDecreaseInOtherCurrentAssets $7.12M USD 1 Quarter
Income tax payable IncreaseDecreaseInAccruedIncomeTaxesPayable $-26.11M USD 1 Quarter
Income tax payable IncreaseDecreaseInAccruedIncomeTaxesPayable $-20.28M USD 1 Quarter
Accounts payable and accrued liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $-48.77M USD 1 Quarter
Accounts payable and accrued liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $-14.09M USD 1 Quarter
Oil and gas asset retirement costs IncreaseDecreaseInAssetRetirementObligations $-292.00K USD 1 Quarter
Oil and gas asset retirement costs IncreaseDecreaseInAssetRetirementObligations $-240.00K USD 1 Quarter
Other noncurrent, net IncreaseDecreaseInOtherOperatingCapitalNet $2.76M USD 1 Quarter
Other noncurrent, net IncreaseDecreaseInOtherOperatingCapitalNet $7.00M USD 1 Quarter
Net cash provided by (used in) operating activities NetCashProvidedByUsedInOperatingActivitiesContinuingOperations $-8.17M USD 1 Quarter
Net cash provided by (used in) operating activities NetCashProvidedByUsedInOperatingActivitiesContinuingOperations $48.84M USD 1 Quarter
Net cash used in discontinued operations CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations $-30.50M USD 1 Quarter
Net cash provided by (used in) operating activities NetCashProvidedByUsedInOperatingActivities $-38.67M USD 1 Quarter
Net cash provided by (used in) operating activities NetCashProvidedByUsedInOperatingActivities $48.84M USD 1 Quarter
Capital expenditures PaymentsToAcquireProductiveAssets $37.99M USD 1 Quarter
Capital expenditures PaymentsToAcquireProductiveAssets $36.45M USD 1 Quarter
Distributions from equity investments, net ProceedsFromEquityMethodInvestmentNetOfEarnings $2.05M USD 1 Quarter
Distributions from equity investments, net ProceedsFromEquityMethodInvestmentNetOfEarnings $2.09M USD 1 Quarter
Proceeds from sale of assets ProceedsFromSaleOfPropertyPlantAndEquipment $11.07M USD 1 Quarter
Acquisition of noncontrolling interests PaymentsToAcquireAdditionalInterestInSubsidiaries $20.09M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivitiesContinuingOperations $-44.91M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivitiesContinuingOperations $-34.41M USD 1 Quarter
Net cash provided by discontinued operations CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations $582.97M USD 1 Quarter
Net cash provided by (used in) investing activities NetCashProvidedByUsedInInvestingActivities $548.56M USD 1 Quarter
Net cash provided by (used in) investing activities NetCashProvidedByUsedInInvestingActivities $-44.91M USD 1 Quarter
Borrowings under revolving credit facility ProceedsFromLongTermLinesOfCredit $2.57M USD 1 Quarter
Repayment of revolving credit facility RepaymentsOfLongTermLinesOfCredit $24.47M USD 1 Quarter
Repurchase of Convertible Senior Notes due 2025 RepaymentsOfConvertibleDebt $3.49M USD 1 Quarter
Repayment of term loans RepaymentsOfSecuredDebt $3.75M USD 1 Quarter
Repayment of term loans RepaymentsOfSecuredDebt $294.88M USD 1 Quarter
Repayment of MARAD borrowings RepaymentsOfLongTermSecuredDebt $2.53M USD 1 Quarter
Repayment of MARAD borrowings RepaymentsOfLongTermSecuredDebt $2.65M USD 1 Quarter
Deferred financing costs PaymentsOfFinancingCosts $41.00K USD 1 Quarter
Distributions to noncontrolling interest PaymentsToMinorityShareholders $1.04M USD 1 Quarter
Distributions to noncontrolling interest PaymentsToMinorityShareholders $1.02M USD 1 Quarter
Repurchases of common stock PaymentsForRepurchaseOfCommonStock $1.47M USD 1 Quarter
Repurchases of common stock PaymentsForRepurchaseOfCommonStock $5.45M USD 1 Quarter
Excess tax from stock-based compensation ExcessTaxBenefitFromShareBasedCompensationFinancingActivities $619.00K USD 1 Quarter
Excess tax from stock-based compensation ExcessTaxBenefitFromShareBasedCompensationFinancingActivities $617.00K USD 1 Quarter
Exercise of stock options, net and other ProceedsFromStockOptionsExercised $174.00K USD 1 Quarter
Proceeds from issuance of ESPP shares ProceedsFromStockPlans $942.00K USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivitiesContinuingOperations $-11.31M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivitiesContinuingOperations $-324.56M USD 1 Quarter
Effect of exchange rate changes on cash and cash equivalents EffectOfExchangeRateOnCashAndCashEquivalents $-737.00K USD 1 Quarter
Effect of exchange rate changes on cash and cash equivalents EffectOfExchangeRateOnCashAndCashEquivalents $3.22M USD 1 Quarter
Net increase (decrease) in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $-8.12M USD 1 Quarter
Net increase (decrease) in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $188.55M USD 1 Quarter
Balance, beginning of year CashAndCashEquivalentsAtCarryingValue $625.65M USD Point-in-time
Balance, beginning of year CashAndCashEquivalentsAtCarryingValue $470.08M USD Point-in-time
Balance, beginning of year CashAndCashEquivalentsAtCarryingValue $478.20M USD Point-in-time
Balance, beginning of year CashAndCashEquivalentsAtCarryingValue $437.10M USD Point-in-time
Balance, end of period CashAndCashEquivalentsAtCarryingValue $625.65M USD Point-in-time
Balance, end of period CashAndCashEquivalentsAtCarryingValue $470.08M USD Point-in-time
Balance, end of period CashAndCashEquivalentsAtCarryingValue $478.20M USD Point-in-time
Balance, end of period CashAndCashEquivalentsAtCarryingValue $437.10M USD Point-in-time
Comprehensive Income 20 line items
Line Item Tag Value Unit Period
Net income, including noncontrolling interests ProfitLoss $54.22M USD 1 Quarter
Net income, including noncontrolling interests ProfitLoss $2.39M USD 1 Quarter
Unrealized gain (loss) on hedges arising during the period OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodBeforeTax $4.05M USD 1 Quarter
Unrealized gain (loss) on hedges arising during the period OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodBeforeTax $-11.29M USD 1 Quarter
Reclassification adjustments for loss included in net income OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesBeforeTax $-658.00K USD 1 Quarter
Reclassification adjustments for loss included in net income OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesBeforeTax $-150.00K USD 1 Quarter
Income taxes on unrealized (gain) loss on hedges OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesTax $-3.90M USD 1 Quarter
Income taxes on unrealized (gain) loss on hedges OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesTax $1.65M USD 1 Quarter
Unrealized gain (loss) on hedges, net of tax OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax $-7.24M USD 1 Quarter
Unrealized gain (loss) on hedges, net of tax OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax $3.06M USD 1 Quarter
Foreign currency translation gain (loss) OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax $1.35M USD 1 Quarter
Foreign currency translation gain (loss) OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax $-11.08M USD 1 Quarter
Other comprehensive income (loss), net of tax OtherComprehensiveIncomeLossNetOfTax $4.41M USD 1 Quarter
Other comprehensive income (loss), net of tax OtherComprehensiveIncomeLossNetOfTax $-18.32M USD 1 Quarter
Comprehensive income (loss) ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $-15.93M USD 1 Quarter
Comprehensive income (loss) ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $58.63M USD 1 Quarter
Less comprehensive income applicable to noncontrolling interests ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $503.00K USD 1 Quarter
Less comprehensive income applicable to noncontrolling interests ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $777.00K USD 1 Quarter
Comprehensive income (loss) applicable to Helix ComprehensiveIncomeNetOfTax $58.13M USD 1 Quarter
Comprehensive income (loss) applicable to Helix ComprehensiveIncomeNetOfTax $-16.70M USD 1 Quarter

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

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