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10-Q Filing

HELIX ENERGY SOLUTIONS GROUP INC CIK: 866829 Q1 2019
Filing Information
Form Type 10-Q
Accession Number 0000866829-19-000015
Period End Date 20190331
Filing Date 20190424
Fiscal Year 2019
Fiscal Period Q1
XBRL Instance hlx-20190331.xml
Balance Sheet 64 line items
Line Item Tag Value Unit Period
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $279.46M USD Point-in-time
Allowance for uncollectible accounts AllowanceForDoubtfulAccountsReceivableCurrent - USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $266.59M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $220.02M USD Point-in-time
Allowance for uncollectible accounts AllowanceForDoubtfulAccountsReceivableCurrent - USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $273.99M USD Point-in-time
Trade, net of allowance for uncollectible accounts of $0 AccountsReceivableNetCurrent $102.07M USD Point-in-time
Trade, net of allowance for uncollectible accounts of $0 AccountsReceivableNetCurrent $67.93M USD Point-in-time
Unbilled and other UnbilledContractsReceivable $41.36M USD Point-in-time
Common stock, shares authorized CommonStockSharesAuthorized 240.00M shares Point-in-time
Common stock, shares authorized CommonStockSharesAuthorized 240.00M shares Point-in-time
Unbilled and other UnbilledContractsReceivable $51.94M USD Point-in-time
Common stock, shares issued CommonStockSharesIssued 148.78M shares Point-in-time
Other current assets OtherAssetsCurrent $87.18M USD Point-in-time
Other current assets OtherAssetsCurrent $51.59M USD Point-in-time
Common stock, shares issued CommonStockSharesIssued 148.20M shares Point-in-time
Total current assets AssetsCurrent $450.64M USD Point-in-time
Total current assets AssetsCurrent $450.93M USD Point-in-time
Property and equipment PropertyPlantAndEquipmentGross $2.79B USD Point-in-time
Property and equipment PropertyPlantAndEquipmentGross $2.80B USD Point-in-time
Less accumulated depreciation AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $986.20M USD Point-in-time
Less accumulated depreciation AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $959.03M USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $1.82B USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $1.83B USD Point-in-time
Operating lease right-of-use assets OperatingLeaseRightOfUseAsset $240.33M USD Point-in-time
Operating lease right-of-use assets OperatingLeaseRightOfUseAsset - USD Point-in-time
Other assets, net OtherAssetsNoncurrent $98.28M USD Point-in-time
Other assets, net OtherAssetsNoncurrent $70.06M USD Point-in-time
Total assets Assets $2.61B USD Point-in-time
Total assets Assets $2.35B USD Point-in-time
Accounts payable AccountsPayableCurrent $54.81M USD Point-in-time
Accounts payable AccountsPayableCurrent $63.85M USD Point-in-time
Accrued liabilities AccruedLiabilitiesCurrent $85.59M USD Point-in-time
Accrued liabilities AccruedLiabilitiesCurrent $81.84M USD Point-in-time
Income tax payable AccruedIncomeTaxesCurrent - USD Point-in-time
Income tax payable AccruedIncomeTaxesCurrent $3.83M USD Point-in-time
Current maturities of long-term debt LongTermDebtCurrent $47.25M USD Point-in-time
Current maturities of long-term debt LongTermDebtCurrent $47.89M USD Point-in-time
Current operating lease liabilities OperatingLeaseLiabilityCurrent - USD Point-in-time
Current operating lease liabilities OperatingLeaseLiabilityCurrent $55.24M USD Point-in-time
Total current liabilities LiabilitiesCurrent $248.82M USD Point-in-time
Total current liabilities LiabilitiesCurrent $191.49M USD Point-in-time
Long-term debt LongTermDebtNoncurrent $393.06M USD Point-in-time
Long-term debt LongTermDebtNoncurrent $381.32M USD Point-in-time
Operating lease liabilities OperatingLeaseLiabilityNoncurrent $191.54M USD Point-in-time
Operating lease liabilities OperatingLeaseLiabilityNoncurrent - USD Point-in-time
Deferred tax liabilities DeferredTaxLiabilitiesNoncurrent $107.37M USD Point-in-time
Deferred tax liabilities DeferredTaxLiabilitiesNoncurrent $105.86M USD Point-in-time
Other non-current liabilities OtherLiabilitiesNoncurrent $48.43M USD Point-in-time
Other non-current liabilities OtherLiabilitiesNoncurrent $39.54M USD Point-in-time
Total liabilities Liabilities $977.48M USD Point-in-time
Total liabilities Liabilities $729.95M USD Point-in-time
Common stock, no par, 240,000 shares authorized, 148,785 and 148,203 shares issued, respectively CommonStockValue $1.31B USD Point-in-time
Common stock, no par, 240,000 shares authorized, 148,785 and 148,203 shares issued, respectively CommonStockValue $1.31B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $388.91M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $383.03M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-73.96M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-69.81M USD Point-in-time
Total shareholders equity StockholdersEquity $1.63B USD Point-in-time
Total shareholders equity StockholdersEquity $1.62B USD Point-in-time
Total shareholders equity StockholdersEquity $1.59B USD Point-in-time
Total shareholders equity StockholdersEquity $1.57B USD Point-in-time
Total liabilities and shareholders equity LiabilitiesAndStockholdersEquity $2.35B USD Point-in-time
Total liabilities and shareholders equity LiabilitiesAndStockholdersEquity $2.61B USD Point-in-time
Income Statement 34 line items
Line Item Tag Value Unit Period
Net revenues RevenueFromContractWithCustomerExcludingAssessedTax $164.26M USD 1 Quarter
Net revenues RevenueFromContractWithCustomerExcludingAssessedTax $166.82M USD 1 Quarter
Cost of sales CostOfRevenue $150.57M USD 1 Quarter
Cost of sales CostOfRevenue $151.28M USD 1 Quarter
Gross profit GrossProfit $12.98M USD 1 Quarter
Gross profit GrossProfit $16.25M USD 1 Quarter
Selling, general and administrative expenses SellingGeneralAndAdministrativeExpense $15.98M USD 1 Quarter
Selling, general and administrative expenses SellingGeneralAndAdministrativeExpense $14.10M USD 1 Quarter
Income (loss) from operations OperatingIncomeLoss $269.00K USD 1 Quarter
Income (loss) from operations OperatingIncomeLoss $-1.12M USD 1 Quarter
Equity in losses of investment IncomeLossFromEquityMethodInvestments $-136.00K USD 1 Quarter
Equity in losses of investment IncomeLossFromEquityMethodInvestments $-40.00K USD 1 Quarter
Net interest expense InterestIncomeExpenseNonoperatingNet $-2.10M USD 1 Quarter
Net interest expense InterestIncomeExpenseNonoperatingNet $-3.90M USD 1 Quarter
Loss on extinguishment of long-term debt GainsLossesOnExtinguishmentOfDebt $-1.10M USD 1 Quarter
Loss on extinguishment of long-term debt GainsLossesOnExtinguishmentOfDebt - USD 1 Quarter
Other income, net OtherNonoperatingIncomeExpense $925.00K USD 1 Quarter
Other income, net OtherNonoperatingIncomeExpense $1.17M USD 1 Quarter
Royalty income and other RoyaltyIncomeAndOther $2.35M USD 1 Quarter
Royalty income and other RoyaltyIncomeAndOther $2.85M USD 1 Quarter
Income (loss) before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $-2.47M USD 1 Quarter
Income (loss) before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $1.64M USD 1 Quarter
Income tax provision IncomeTaxExpenseBenefit $87.00K USD 1 Quarter
Income tax provision IncomeTaxExpenseBenefit $324.00K USD 1 Quarter
Net income (loss) NetIncomeLoss $1.32M USD 1 Quarter
Net income (loss) NetIncomeLoss $-2.56M USD 1 Quarter
Basic EarningsPerShareBasic $0.01 USD 1 Quarter
Basic EarningsPerShareBasic $-0.02 USD 1 Quarter
Diluted EarningsPerShareDiluted $0.01 USD 1 Quarter
Diluted EarningsPerShareDiluted $-0.02 USD 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 146.65M shares 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 147.42M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 147.75M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 146.65M shares 1 Quarter
Cash Flow Statement 68 line items
Line Item Tag Value Unit Period
Net income (loss) NetIncomeLoss $1.32M USD 1 Quarter
Net income (loss) NetIncomeLoss $-2.56M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $27.78M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $28.51M USD 1 Quarter
Amortization of debt discounts AmortizationOfDebtDiscountPremium $1.36M USD 1 Quarter
Amortization of debt discounts AmortizationOfDebtDiscountPremium $1.51M USD 1 Quarter
Amortization of debt issuance costs AmortizationOfFinancingCosts $902.00K USD 1 Quarter
Amortization of debt issuance costs AmortizationOfFinancingCosts $935.00K USD 1 Quarter
Share-based compensation ShareBasedCompensation $2.50M USD 1 Quarter
Share-based compensation ShareBasedCompensation $2.72M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $108.00K USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $-10.00K USD 1 Quarter
Equity in losses of investment IncomeLossFromEquityMethodInvestments $-136.00K USD 1 Quarter
Equity in losses of investment IncomeLossFromEquityMethodInvestments $-40.00K USD 1 Quarter
Loss on extinguishment of long-term debt GainsLossesOnExtinguishmentOfDebt $-1.10M USD 1 Quarter
Loss on extinguishment of long-term debt GainsLossesOnExtinguishmentOfDebt - USD 1 Quarter
Unrealized gain on derivative contracts, net UnrealizedGainLossOnDerivatives $829.00K USD 1 Quarter
Unrealized gain on derivative contracts, net UnrealizedGainLossOnDerivatives $1.53M USD 1 Quarter
Accounts receivable, net IncreaseDecreaseInAccountsReceivable $-22.76M USD 1 Quarter
Accounts receivable, net IncreaseDecreaseInAccountsReceivable $22.58M USD 1 Quarter
Other current assets IncreaseDecreaseInOtherCurrentAssets $3.95M USD 1 Quarter
Other current assets IncreaseDecreaseInOtherCurrentAssets $13.13M USD 1 Quarter
Income tax payable IncreaseDecreaseInAccruedIncomeTaxesPayable $-2.37M USD 1 Quarter
Income tax payable IncreaseDecreaseInAccruedIncomeTaxesPayable $-2.85M USD 1 Quarter
Accounts payable and accrued liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $-17.03M USD 1 Quarter
Accounts payable and accrued liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $-12.26M USD 1 Quarter
Other, net IncreaseDecreaseInOtherOperatingCapitalNet $-7.51M USD 1 Quarter
Other, net IncreaseDecreaseInOtherOperatingCapitalNet $13.30M USD 1 Quarter
Net cash provided by (used in) operating activities NetCashProvidedByUsedInOperatingActivitiesContinuingOperations $41.05M USD 1 Quarter
Net cash provided by (used in) operating activities NetCashProvidedByUsedInOperatingActivitiesContinuingOperations $-34.25M USD 1 Quarter
Capital expenditures PaymentsToAcquireProductiveAssets $11.65M USD 1 Quarter
Capital expenditures PaymentsToAcquireProductiveAssets $21.21M USD 1 Quarter
Proceeds from sale of assets ProceedsFromSaleOfPropertyPlantAndEquipment $25.00K USD 1 Quarter
Proceeds from sale of assets ProceedsFromSaleOfPropertyPlantAndEquipment - USD 1 Quarter
Other PaymentsForProceedsFromOtherInvestingActivities - USD 1 Quarter
Other PaymentsForProceedsFromOtherInvestingActivities $326.00K USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivitiesContinuingOperations $-11.96M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivitiesContinuingOperations $-21.21M USD 1 Quarter
Issuance of Convertible Senior Notes due 2023 ProceedsFromConvertibleDebt - USD 1 Quarter
Issuance of Convertible Senior Notes due 2023 ProceedsFromConvertibleDebt $125.00M USD 1 Quarter
Repurchase of Convertible Senior Notes due 2032 RepaymentsOfConvertibleDebt $59.48M USD 1 Quarter
Repurchase of Convertible Senior Notes due 2032 RepaymentsOfConvertibleDebt - USD 1 Quarter
Repayment of Term Loan RepaymentsOfOtherLongTermDebt $936.00K USD 1 Quarter
Repayment of Term Loan RepaymentsOfOtherLongTermDebt $61.47M USD 1 Quarter
Repayment of Nordea Q5000 Loan RepaymentsOfSecuredDebt $8.93M USD 1 Quarter
Repayment of Nordea Q5000 Loan RepaymentsOfSecuredDebt $8.93M USD 1 Quarter
Repayment of MARAD Debt RepaymentsOfLongTermSecuredDebt $3.39M USD 1 Quarter
Repayment of MARAD Debt RepaymentsOfLongTermSecuredDebt $3.23M USD 1 Quarter
Debt issuance costs PaymentsOfFinancingCosts $3.77M USD 1 Quarter
Debt issuance costs PaymentsOfFinancingCosts $113.00K USD 1 Quarter
Payments related to tax withholding for share-based compensation PaymentsRelatedToTaxWithholdingForShareBasedCompensation $826.00K USD 1 Quarter
Payments related to tax withholding for share-based compensation PaymentsRelatedToTaxWithholdingForShareBasedCompensation $1.06M USD 1 Quarter
Proceeds from issuance of ESPP shares ProceedsFromStockPlans $159.00K USD 1 Quarter
Proceeds from issuance of ESPP shares ProceedsFromStockPlans $136.00K USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivitiesContinuingOperations $-14.05M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivitiesContinuingOperations $-12.77M USD 1 Quarter
Effect of exchange rate changes on cash and cash equivalents EffectOfExchangeRateOnCashAndCashEquivalents $821.00K USD 1 Quarter
Effect of exchange rate changes on cash and cash equivalents EffectOfExchangeRateOnCashAndCashEquivalents $335.00K USD 1 Quarter
Net increase (decrease) in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $-59.44M USD 1 Quarter
Net increase (decrease) in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $7.39M USD 1 Quarter
Balance, beginning of year CashAndCashEquivalentsAtCarryingValue $279.46M USD Point-in-time
Balance, beginning of year CashAndCashEquivalentsAtCarryingValue $266.59M USD Point-in-time
Balance, beginning of year CashAndCashEquivalentsAtCarryingValue $220.02M USD Point-in-time
Balance, beginning of year CashAndCashEquivalentsAtCarryingValue $273.99M USD Point-in-time
Balance, end of period CashAndCashEquivalentsAtCarryingValue $279.46M USD Point-in-time
Balance, end of period CashAndCashEquivalentsAtCarryingValue $266.59M USD Point-in-time
Balance, end of period CashAndCashEquivalentsAtCarryingValue $220.02M USD Point-in-time
Balance, end of period CashAndCashEquivalentsAtCarryingValue $273.99M USD Point-in-time
Stockholders Equity 23 line items
Line Item Tag Value Unit Period
Balance, beginning of period StockholdersEquity $1.63B USD Point-in-time
Balance, beginning of period StockholdersEquity $1.62B USD Point-in-time
Balance, beginning of period StockholdersEquity $1.59B USD Point-in-time
Balance, beginning of period StockholdersEquity $1.57B USD Point-in-time
Net income (loss) NetIncomeLoss $1.32M USD 1 Quarter
Net income (loss) NetIncomeLoss $-2.56M USD 1 Quarter
Reclassification of deferred gain from sale and leaseback transaction to retained earnings ReclassificationOfDeferredGainFromSaleAndLeasebackTransactionToRetainedEarnings $4.56M USD 1 Quarter
Reclassification of stranded tax effect to retained earnings ReclassificationOfStrandedTaxEffectFromAOCIToRetainedEarnings - USD 1 Quarter
Foreign currency translation adjustments OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $2.80M USD 1 Quarter
Foreign currency translation adjustments OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $4.69M USD 1 Quarter
Unrealized gain on hedges, net of tax OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax $2.96M USD 1 Quarter
Unrealized gain on hedges, net of tax OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax $1.35M USD 1 Quarter
Unrealized loss on note receivable, net of tax OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax $-497.00K USD 1 Quarter
Unrealized loss on note receivable, net of tax OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax - USD 1 Quarter
Equity component of debt discount on convertible senior notes AdjustmentsToAdditionalPaidInCapitalEquityComponentOfConvertibleDebt $15.42M USD 1 Quarter
Activity in company stock plans, net and other StockIssuedDuringPeriodValueShareBasedCompensation $-862.00K USD 1 Quarter
Activity in company stock plans, net and other StockIssuedDuringPeriodValueShareBasedCompensation $-659.00K USD 1 Quarter
Share-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $2.69M USD 1 Quarter
Share-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $2.46M USD 1 Quarter
Balance, end of period StockholdersEquity $1.63B USD Point-in-time
Balance, end of period StockholdersEquity $1.62B USD Point-in-time
Balance, end of period StockholdersEquity $1.59B USD Point-in-time
Balance, end of period StockholdersEquity $1.57B USD Point-in-time
Comprehensive Income 22 line items
Line Item Tag Value Unit Period
Net income (loss) NetIncomeLoss $1.32M USD 1 Quarter
Net income (loss) NetIncomeLoss $-2.56M USD 1 Quarter
Net unrealized gain (loss) on hedges arising during the period OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodBeforeTax $2.15M USD 1 Quarter
Net unrealized gain (loss) on hedges arising during the period OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodBeforeTax $-149.00K USD 1 Quarter
Reclassifications to net income (loss) OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesBeforeTax $-1.85M USD 1 Quarter
Reclassifications to net income (loss) OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesBeforeTax $-1.63M USD 1 Quarter
Income taxes on hedges OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesTax $815.00K USD 1 Quarter
Income taxes on hedges OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesTax $342.00K USD 1 Quarter
Net change in hedges, net of tax OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax $2.96M USD 1 Quarter
Net change in hedges, net of tax OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax $1.35M USD 1 Quarter
Unrealized loss on note receivable arising during the period OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeTax - USD 1 Quarter
Unrealized loss on note receivable arising during the period OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeTax $-629.00K USD 1 Quarter
Income taxes on note receivable OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax - USD 1 Quarter
Income taxes on note receivable OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax $-132.00K USD 1 Quarter
Unrealized loss on note receivable, net of tax OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax $-497.00K USD 1 Quarter
Unrealized loss on note receivable, net of tax OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax - USD 1 Quarter
Foreign currency translation gain OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $2.80M USD 1 Quarter
Foreign currency translation gain OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $4.69M USD 1 Quarter
Other comprehensive income, net of tax OtherComprehensiveIncomeLossNetOfTax $4.16M USD 1 Quarter
Other comprehensive income, net of tax OtherComprehensiveIncomeLossNetOfTax $7.16M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTax $4.60M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTax $5.47M USD 1 Quarter

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

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