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Document And Entity Information - shares	3 Months Ended
Document And Entity Information - shares	Mar. 31, 2014	Apr. 18, 2014
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2014
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2014
Entity Registrant Name	HELIX ENERGY SOLUTIONS GROUP INC
Entity Central Index Key	0000866829
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		105,539,923
Entity Current Reporting Status	Yes
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2014	Dec. 31, 2013
Current assets:
Cash and cash equivalents	$ 470,079	$ 478,200
Accounts receivable:
Trade, net of allowance for uncollectible accounts of $1,371 and $2,234, respectively	132,219	156,925
Unbilled revenue	55,999	25,732
Costs in excess of billing	1,508	1,508
Income tax receivable, net	25,956
Current deferred tax assets	19,865	51,573
Other current assets	46,759	29,709
Total current assets	752,385	743,647
Property and equipment	1,966,500	1,963,706
Less accumulated depreciation	(444,881)	(431,489)
Property and equipment, net	1,521,619	1,532,217
Other assets:
Equity investments	155,730	157,919
Goodwill	63,336	63,230
Other assets, net	66,925	47,267
Total assets	2,559,995	2,544,280
Current liabilities:
Accounts payable	96,370	72,602
Accrued liabilities	59,814	96,482
Income tax payable		760
Current maturities of long-term debt	20,508	20,376
Total current liabilities	176,692	190,220
Long-term debt	540,636	545,776
Deferred tax liabilities	270,918	265,879
Other non-current liabilities	13,748	18,295
Total liabilities	1,001,994	1,020,170
Commitments and contingencies
Shareholders' equity:
Common stock, no par, 240,000 shares authorized, 105,532 and 105,640 shares issued, respectively	934,328	933,507
Retained earnings	639,951	586,232
Accumulated other comprehensive loss	(16,278)	(20,688)
Total controlling interest shareholders' equity	1,558,001	1,499,051
Noncontrolling interests		25,059
Total equity	1,558,001	1,524,110
Total liabilities and shareholders' equity	$ 2,559,995	$ 2,544,280

Consolidated Balance Sheets (Parenthetical) - USD ($) shares in Thousands, $ in Thousands	Mar. 31, 2014	Dec. 31, 2013
Current assets:
Allowance for uncollectible accounts	$ 1,371	$ 2,234
Shareholders' equity:
Common stock, par value
Common stock, shares authorized	240,000	240,000
Common stock, shares issued	105,532	105,640

Consolidated Statements Of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Consolidated Statements Of Operations [Abstract]
Net revenues	$ 253,572	$ 197,429
Cost of sales	177,726	144,862
Gross profit	75,846	52,567
Loss on commodity derivative contracts		(14,113)
Gain on sale of assets	11,496
Selling, general and administrative expenses	(20,394)	(23,216)
Income from operations	66,948	15,238
Equity in earnings of investments	708	610
Net interest expense	(4,483)	(10,323)
Loss on early extinguishment of long term debt		(2,882)
Other expense, net	(810)	(3,684)
Other income - oil and gas	12,276	2,818
Income before income taxes	74,639	1,777
Income tax provision	20,417	443
Net income from continuing operations	54,222	1,334
Income from discontinued operations, net of tax		1,058
Net income, including noncontrolling interests	54,222	2,392
Less net income applicable to noncontrolling interests	(503)	(777)
Net income applicable to Helix	$ 53,719	$ 1,615
Basic earnings per share of common stock:
Continuing operations	$ 0.51	$ 0.01
Discontinued operations		0.01
Net income per common share	0.51	0.02
Diluted earnings per share of common stock:
Continuing operations	0.51	0.01
Discontinued operations		0.01
Net income per common share	$ 0.51	$ 0.02
Weighted average common shares outstanding:
Basic	105,126	105,032
Diluted	105,375	105,165

Consolidated Statements Of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Consolidated Statements Of Comprehensive Income [Abstract]
Net income, including noncontrolling interests	$ 54,222	$ 2,392
Other comprehensive income (loss), net of tax:
Unrealized gain (loss) on hedges arising during the period	4,055	(11,285)
Reclassification adjustments for loss included in net income	658	150
Income taxes on unrealized (gain) loss on hedges	(1,650)	3,897
Unrealized gain (loss) on hedges, net of tax	3,063	(7,238)
Foreign currency translation gain (loss)	1,347	(11,081)
Other comprehensive income (loss), net of tax	4,410	(18,319)
Comprehensive income (loss)	58,632	(15,927)
Less comprehensive income applicable to noncontrolling interests	(503)	(777)
Comprehensive income (loss) applicable to Helix	$ 58,129	$ (16,704)

Consolidated Statements Of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Cash flows from operating activities:
Net income, including noncontrolling interests	$ 54,222	$ 2,392
Adjustments to reconcile net income, including noncontrolling interests to net cash provided by (used in) operating activities:
Income from discontinued operations		(1,058)
Depreciation and amortization	24,726	24,380
Amortization of deferred financing costs	1,218	1,472
Stock-based compensation expense	1,811	3,353
Amortization of debt discount	1,397	1,278
Deferred income taxes	33,407	16,784
Excess tax from stock-based compensation	(619)	(617)
Gain on sale of assets	(11,496)
Loss on early extinguishment of debt		2,882
Unrealized loss and ineffectiveness on derivative contracts, net	68	969
Changes in operating assets and liabilities:
Accounts receivable, net	(5,527)	3,714
Other current assets	(7,122)	12,577
Income tax payable	(26,106)	(20,283)
Accounts payable and accrued liabilities	(14,093)	(48,765)
Oil and gas asset retirement costs	(292)	(240)
Other noncurrent, net	(2,757)	(7,005)
Net cash provided by (used in) operating activities	48,837	(8,167)
Net cash used in discontinued operations		(30,503)
Net cash provided by (used in) operating activities	48,837	(38,670)
Cash flows from investing activities:
Capital expenditures	(37,991)	(36,455)
Distributions from equity investments, net	2,092	2,050
Proceeds from sale of assets	11,074
Acquisition of noncontrolling interests	20,085
Net cash used in investing activities	(44,910)	(34,405)
Net cash provided by discontinued operations		582,965
Net cash provided by (used in) investing activities	(44,910)	548,560
Cash flows from financing activities:
Borrowings under revolving credit facility		2,573
Repayment of revolving credit facility		(24,473)
Repurchase of Convertible Senior Notes due 2025		(3,487)
Repayment of term loans	(3,750)	(294,882)
Repayment of MARAD borrowings	(2,655)	(2,529)
Deferred financing costs		(41)
Distributions to noncontrolling interest	(1,018)	(1,037)
Repurchases of common stock	(5,449)	(1,473)
Excess tax from stock-based compensation	619	617
Exercise of stock options, net and other		174
Proceeds from issuance of ESPP shares	942
Net cash used in financing activities	(11,311)	(324,558)
Effect of exchange rate changes on cash and cash equivalents	(737)	3,218
Net increase (decrease) in cash and cash equivalents	(8,121)	188,550
Cash and cash equivalents:
Balance, beginning of year	478,200	437,100
Balance, end of period	$ 470,079	$ 625,650

Basis Of Presentation And Recent Accounting Standards	3 Months Ended
Basis Of Presentation And Recent Accounting Standards	Mar. 31, 2014
Basis Of Presentation And Recent Accounting Standards [Abstract]
Basis Of Presentation And Recent Accounting Standards	HELIX ENERGY SOLUTIONS GROUP, INC. AND SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) Note 1 — Basis of Presentation and Recent Accounting Standards The accompanying condensed consolidated financial statements include the accounts of Helix Energy Solutions Group, Inc. and its wholly- and majority-owned subsidiaries (collectively, "Helix" or the "Company"). Unless the context indicates otherwise, the terms "we," "us" and "our" in this report refer collectively to Helix and its wholly- and majority-owned subsidiaries. All material intercompany accounts and transactions have been eliminated. These unaudited condensed consolidated financial statements have been prepared pursuant to instructions for the Quarterly Report on Form 10-Q required to be filed with the Securities and Exchange Commission (the “SEC”), and do not include all information and footnotes normally included in annual financial statements prepared in accordance with U.S. generally accepted accounting principles. The accompanying condensed consolidated financial statements have been prepared in conformity with U.S. generally accepted accounting principles (“U.S. GAAP”) and are consistent in all material respects with those applied in our 2013 Annual Report on Form 10-K (“2013 Form 10-K”). The preparation of these financial statements requires us to make estimates and judgments that affect the amounts reported in the financial statements and the related disclosures. Actual results may differ from our estimates. We have made all adjustments (which were normal recurring adjustments unless otherwise disclosed herein) that we believe are necessary for a fair presentation of the condensed consolidated balance sheets, statements of operations, statements of comprehensive income (loss), and statements of cash flows, as applicable. The operating results for the three-month period ended March 31, 2014 are not necessarily indicative of the results that may be expected for the year ending December 31, 2014. Our balance sheet as of December 31, 2013 included herein has been derived from the audited balance sheet as of December 31, 2013 included in our 2013 Form 10-K. These unaudited condensed consolidated financial statements should be read in conjunction with the annual audited consolidated financial statements and notes thereto included in our 2013 Form 10-K. Certain reclassifications were made to previously-reported amounts in the consolidated financial statements and notes thereto to make them consistent with the current presentation format.

- Definition

The entire disclosure for organization, consolidation and basis of presentation of financial statements disclosure.

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+ Details

Company Overview	3 Months Ended
Company Overview	Mar. 31, 2014
Company Overview [Abstract]
Company Overview	Note 2 — Company Overview Our Operations We are an international offshore energy company that provides specialty services to the offshore energy industry, with a focus on well intervention and robotics operations. We seek to provide services and methodologies that we believe are critical to developing offshore reservoirs and maximizing production economics. We provide services primarily in deepwater in the Gulf of Mexico, North Sea, Asia Pacific and West Africa regions. Our “life of field” services are segregated into four business segments: Well Intervention, Robotics, Subsea Construction and Production Facilities (Note 11). Our Subsea Construction segment was significantly diminished following the sale of substantially all of our assets related to this reportable segment during 2013 and early 2014 (see Note 2 to our 2013 Form 10-K). Our Production Facilities segment includes the Helix Producer I (“HP I”) vessel (which we now own 100% after acquiring our minority partner’s noncontrolling interests in the entity that owns the vessel for $20.1 million in February 2014) as well as our equity investments in Deepwater Gateway, L.L.C. (“Deepwater Gateway”) and Independence Hub, LLC (“Independence Hub”) (Note 5). The segment also includes the Helix Fast Response System (“HFRS”), which provides certain operators access to our Q4000 and HP I vessels. In January 2014, we sold our spoolbase property located in Ingleside, Texas (“Ingleside spoolbase”). To date, we have received $15 million of proceeds associated with the sale and we also hold a $30 million promissory note (Note 3). In the first quarter of 2014, we recorded a gain of $10.5 million from the sale of Ingleside spoolbase. Discontinued Operations In December 2012, we announced a definitive agreement for the sale of Energy Resource Technology GOM, Inc. (“ERT”), a former wholly-owned U.S. subsidiary that conducted our oil and gas operations in the Gulf of Mexico, and on February 6, 2013, we sold ERT for $624 million plus additional consideration in the form of overriding royalty interests in ERT’s Wang well and certain exploration prospects. As a result, we have presented the historical operating results of our former Oil and Gas segment as discontinued operations in the accompanying condensed consolidated financial statements. See Note 3 to our 2013 Form 10-K for additional information regarding our discontinued operations and Note 6 regarding the use of a portion of the sale proceeds to reduce our indebtedness under our former credit agreement.

Details Of Certain Accounts

3 Months Ended

Mar. 31, 2014

Details Of Certain Accounts [Abstract]

Details Of Certain Accounts

Note 3 — Details of Certain Accounts

Other current assets and other assets, net consist of the following (in thousands):


		March 31,		December 31,
		2014		2013

Note receivable (1)	$	10,000	$	-
Other receivables (2)		8,221		785
Prepaid insurance		3,743		7,038
Other prepaids		14,555		12,999
Spare parts inventory		1,888		1,038
Derivative assets (Note 14)		1		69
Other		8,351		7,780
Total other current assets	$	46,759	$	29,709


		March 31,		December 31,
		2014		2013

Note receivable (1)	$	20,000	$	-
Deferred dry dock expenses, net		21,441		20,833
Deferred financing costs, net (Note 6)		23,176		24,297
Intangible assets with finite lives, net		640		622
Other		1,668		1,515
Total other assets, net	$	66,925	$	47,267

(1) Relates to the promissory note we received in connection with the sale of our Ingleside spoolbase in January 2014. The note bears 6% interest and is payable quarterly commencing April 1, 2014. A $10 million principal reduction in the note’s balance is required to be paid to us on each December 31 in 2014, 2015 and 2016.

(2) Includes a $6.8 million insurance reimbursement receivable related to asset retirement work previously performed, which was received in April 2014. The entire amount of insurance reimbursement is included in “Other income – oil and gas” in the accompanying condensed consolidated statement of operations.

Accrued liabilities consist of the following (in thousands):


		March 31,		December 31,
		2014		2013

Accrued payroll and related benefits	$	32,241	$	50,527
Current asset retirement obligations		1,201		2,024
Unearned revenue		9,658		19,608
Billing in excess of cost		-		1,677
Accrued interest		2,031		4,187
Derivative liability (Note 14)		2,629		2,651
Taxes payable excluding income tax payable		4,860		4,811
Pipelay assets sale deposit		-		5,000
Other		7,194		5,997
Total accrued liabilities	$	59,814	$	96,482

Statement Of Cash Flow Information

3 Months Ended

Mar. 31, 2014

Statement Of Cash Flow Information [Abstract]

Statement Of Cash Flow Information

Note 4 — Statement of Cash Flow Information

We define cash and cash equivalents as cash and all highly liquid financial instruments with original maturities of three months or less. The following table provides supplemental cash flow information (in thousands):


		Three Months Ended
		March 31,
		2014		2013

Interest paid, net of interest capitalized	$	4,635	$	20,164
Income taxes paid	$	13,118	$	4,521

Total non-cash investing activities for the three-month periods ended March 31, 2014 and 2013 include $15.8 million and $23.3 million, respectively, of accruals for property and equipment capital expenditures.

Equity Investments

3 Months Ended

Mar. 31, 2014

Equity Investments [Abstract]

Equity Investments

Note 5 — Equity Investments

As of March 31, 2014, we had two investments that we account for using the equity method of accounting: Deepwater Gateway and Independence Hub, both of which are included in our Production Facilities segment.

Deepwater Gateway, L.L.C. In June 2002, we, along with Enterprise Products Partners L.P. (“Enterprise”), formed Deepwater Gateway, each with a 50% interest, to design, construct, install, own and operate a tension leg platform production hub primarily for Anadarko Petroleum Corporation's Marco Polo field in the Deepwater Gulf of Mexico. Our investment in Deepwater Gateway totaled $84.5 million and $85.8 million as of March 31, 2014 and December 31, 2013, respectively (including capitalized interest of $1.3 million at March 31, 2014 and December 31, 2013).

Independence Hub, LLC. In December 2004, we acquired a 20% interest in Independence Hub, an affiliate of Enterprise. Independence Hub owns the “Independence Hub” platform located in Mississippi Canyon Block 920 in a water depth of 8,000 feet. Our investment in Independence Hub was $71.2 million and $72.1 million as of March 31, 2014 and December 31, 2013, respectively (including capitalized interest of $4.2 million and $4.3 million at March 31, 2014 and December 31, 2013, respectively).

We received the following distributions from these equity investments (in thousands):


		Three Months Ended
		March 31,
		2014		2013

Deepwater Gateway	$	2,000	$	1,500
Independence Hub		800		1,160
Total	$	2,800	$	2,660

Long-Term Debt

3 Months Ended

Mar. 31, 2014

Long-Term Debt [Abstract]

Long-Term Debt

Note 6 — Long-Term Debt

Scheduled maturities of our long-term debt outstanding as of March 31, 2014 are as follows (in thousands):


		Term Loan		MARAD Debt		2032 Notes (1)		Total

Less than one year	$	15,000	$	5,508	$	-	$	20,508
One to two years		26,250		5,783		-		32,033
Two to three years		30,000		6,072		-		36,072
Three to four years		30,000		6,375		-		36,375
Four to five years		187,500		6,693		-		194,193
Over five years		-		67,082		200,000		267,082
Total debt		288,750		97,513		200,000		586,263
Current maturities		(15,000)		(5,508)		-		(20,508)
Long-term debt, less current maturities		273,750		92,005		200,000		565,755
Unamortized debt discount (2)		-		-		(25,119)		(25,119)
Long-term debt	$	273,750	$	92,005	$	174,881	$	540,636

(1) Beginning in March 2018, the holders of the Convertible Senior Notes due 2032 may require us to repurchase these notes or we may at our option elect to repurchase these notes. The notes will mature in March 2032.

(2) The Convertible Senior Notes due 2032 will increase to their principal amount through accretion of non-cash interest charges through March 2018.

Included below is a summary of certain components of our indebtedness:

Credit Agreement

In June 2013, we entered into a Credit Agreement (the “Credit Agreement”) with a group of lenders pursuant to which we subsequently borrowed $300 million under the Credit Agreement’s term loan (the “Term Loan”) component and may borrow revolving loans (the “Revolving Loans”) under a revolving credit facility up to an outstanding amount of $600 million (the “Revolving Credit Facility”). The Revolving Credit Facility also permits us to obtain letters of credit up to the full amount of the Revolving Credit Facility. Subject to customary conditions, we may request an increase of up to $200 million in aggregate commitments with respect to the Revolving Credit Facility, additional term loans or a combination thereof. The $300 million we borrowed under the Term Loan was in connection with our early redemption of the remaining $275 million Senior Unsecured Notes outstanding in July 2013 (see “Senior Unsecured Notes” below).

The Term Loan and the Revolving Loans (together, the “Loans”), at our election, will bear interest either in relation to the base rate established by Bank of America N.A. or to a LIBOR rate, provided that all Swing Line Loans (as defined in the Credit Agreement) will be base rate loans. The Term Loan currently bears interest at the one-month LIBOR rate plus 2.5%. In September 2013, we entered into various interest rate swap contracts to fix the one-month LIBOR rate on $148.1 million of the Term Loan. The fixed LIBOR rates were between 74 and 75 basis points.

The Loans or portions thereof bearing interest at the base rate will bear interest at a per annum rate equal to the base rate plus a margin ranging from 1.00% to 2.00%. The Loans or portions thereof bearing interest at a LIBOR rate will bear interest at the LIBOR rate selected by us plus a margin ranging from 2.00% to 3.00%. A letter of credit fee is payable by us equal to our applicable margin for LIBOR rate Loans multiplied by the daily amount available to be drawn under outstanding letters of credit. Margins on the Loans will vary in relation to the consolidated coverage ratio, as provided by the Credit Agreement. We also pay a fixed commitment fee of 0.5% on the unused portion of our Revolving Credit Facility. At March 31, 2014, our availability under the Revolving Credit Facility totaled $582.1 million, net of $17.9 million of letters of credit issued.

The Term Loan is repayable in scheduled principal installments of 5% in each of the initial two loan years ($15 million per year), and 10% in each of the remaining three loan years ($30 million per year), payable quarterly, with a balloon payment of $180 million at maturity. These installment amounts are subject to adjustment for any prepayments on the Term Loan. We may elect to prepay amounts outstanding under the Term Loan without premium or penalty, but may not reborrow any amounts prepaid. We may prepay amounts outstanding under the Revolving Loans without premium or penalty, and may reborrow any amounts paid up to the amount of the Revolving Credit Facility. The Loans mature on June 19, 2018. In certain circumstances, we will be required to prepay the Loans.

The Credit Agreement and the other documents entered into in connection with the Credit Agreement (together, the “Loan Documents”) include terms and conditions, including covenants, which we consider customary for this type of transaction. The covenants include restrictions on our and our subsidiaries’ ability to grant liens, incur indebtedness, make investments, merge or consolidate, sell or transfer assets, pay dividends and incur capital expenditures. In addition, the Credit Agreement obligates us to meet certain financial ratios, including the Consolidated Interest Coverage Ratio and the Consolidated Leverage Ratio (as defined in the Credit Agreement). We may designate one of our existing foreign subsidiaries, and any newly established foreign subsidiaries, as subsidiaries that are not generally subject to the covenants in the Credit Agreement (the “Unrestricted Subsidiaries”), provided we meet certain liquidity requirements, in which case the EBITDA of the Unrestricted Subsidiaries is not included in the calculations with respect to our financial covenants. Our obligations under the Credit Agreement are guaranteed by our domestic subsidiaries (except Cal Dive I – Title XI, Inc.) and Canyon Offshore Limited. Our obligations under the Credit Agreement, and of the guarantors under their guaranty, are secured by most of our assets and assets of the guarantors and Canyon Offshore Limited, plus pledges of up to two-thirds of the shares of certain foreign subsidiaries.

Convertible Senior Notes Due 2032

In March 2012, we completed a public offering and sale of $200.0 million in aggregate principal amount of 3.25% Convertible Senior Notes due 2032 (the “2032 Notes”). The net proceeds from the issuance of the 2032 Notes were $195.0 million, after deducting the underwriter’s discounts and commissions and offering expenses. We used the net proceeds to repurchase and retire $142.2 million of aggregate principal amount of our 3.25% Convertible Senior Notes due 2025 in separate, privately negotiated transactions (see Note 7 to our 2013 Form 10-K for additional information). The remaining net proceeds were used for general corporate purposes, including the repayment of other indebtedness.

The 2032 Notes bear interest at a rate of 3.25% per annum, and are payable semi-annually in arrears on March 15 and September 15 of each year, beginning on September 15, 2012. The 2032 Notes will mature on March 15, 2032, unless earlier converted, redeemed or repurchased. The 2032 Notes are convertible in certain circumstances and during certain periods at an initial conversion rate of 39.9752 shares of common stock per $1,000 principal amount (which represents an initial conversion price of approximately $25.02 per share of common stock), subject to adjustment in certain circumstances as set forth in the Indenture governing the 2032 Notes.

Prior to March 20, 2018, the 2032 Notes are not redeemable. On or after March 20, 2018, we, at our option, may redeem some or all of the 2032 Notes in cash, at any time, upon at least 30 days’ notice at a price equal to 100% of the principal amount plus accrued and unpaid interest (including contingent interest, if any) up to but excluding the redemption date. In addition, the holders of the 2032 Notes may require us to purchase in cash some or all of their 2032 Notes at a repurchase price equal to 100% of the principal amount of the 2032 Notes, plus accrued and unpaid interest (including contingent interest, if any) up to but excluding the applicable repurchase date, on March 15, 2018, March 15, 2022 and March 15, 2027, or, subject to specified exceptions, at any time prior to the 2032 Notes’ maturity following a fundamental change (as defined in the Indenture governing the 2032 Notes).

In connection with the issuance of the 2032 Notes, we recorded a discount of $35.4 million as required under existing accounting rules. To arrive at this discount amount, we estimated the fair value of the liability component of the 2032 Notes as of the date of their issuance (March 12, 2012) using an income approach. To determine this estimated fair value, we used borrowing rates of similar market transactions involving comparable liabilities at the time of issuance and an expected life of 6.0 years. In selecting the expected life, we selected the earliest date upon which the holders could require us to repurchase all or a portion of the 2032 Notes (March 15, 2018). The effective interest rate for the 2032 Notes is 6.9% after considering the effect of the accretion of the related debt discount that represented the equity component of the 2032 Notes at their inception.

MARAD Debt

This U.S. government guaranteed financing (the “MARAD Debt”) is pursuant to Title XI of the Merchant Marine Act of 1936 administered by the Maritime Administration, and was used to finance the construction of the Q4000. The MARAD Debt is payable in equal semi-annual installments beginning in August 2002 and matures in February 2027. The MARAD Debt is collateralized by the Q4000, is guaranteed 50% by us, and initially bore interest at a floating rate that approximated AAA Commercial Paper yields plus 20 basis points. As provided for in the MARAD Debt agreements, in September 2005, we fixed the interest rate on the debt through the issuance of a 4.93% fixed-rate note with the same maturity date.

Former Credit Facility

Similar to our current Credit Agreement, our former credit facility contained both term loan and revolving loan components. This indebtedness was scheduled to mature on July 1, 2015. In February 2013, we repaid $318.4 million of borrowings outstanding under our former credit facility with the proceeds from the sale of ERT. In connection with the repayment of this debt in February 2013, we recorded a $2.9 million charge to accelerate a pro rata portion of the deferred financing costs associated with our former term loan debt. This charge is reflected as a component of “Loss on early extinguishment of long-term debt” in the accompanying condensed consolidated statement of operations for the period ended March 31, 2013. We fully repaid the remaining indebtedness outstanding under our former credit facility in June 2013.

Senior Unsecured Notes

In December 2007, we issued $550 million of 9.5% Senior Unsecured Notes due 2016 (the “Senior Unsecured Notes”). We had $275 million of the Senior Unsecured Notes outstanding at the beginning of 2013. We fully redeemed these notes in July 2013 (see Note 7 to our 2013 Form 10-K).

Other

In accordance with our Credit Agreement, the 2032 Notes and MARAD Debt agreements, we are required to comply with certain covenants, including certain financial ratios such as a consolidated interest coverage ratio and consolidated leverage ratio, as well as the maintenance of minimum net worth, working capital and debt-to-equity requirements. As of March 31, 2014, we were in compliance with these covenants.

Unamortized deferred financing costs are included in “Other assets, net” in the accompanying condensed consolidated balance sheets and are amortized over the life of the respective debt agreements. The following table reflects the components of our deferred financing costs (in thousands):


		March 31, 2014						December 31, 2013
		Gross Carrying Amount		Accumulated Amortization		Net		Gross Carrying Amount		Accumulated Amortization		Net

Term Loan (matures June 2018) (1)	$	3,638	$	(546)	$	3,092	$	3,638	$	(364)	$	3,274
Revolving Credit Facility (matures June 2018) (1)		13,275		(1,991)		11,284		13,275		(1,327)		11,948
2032 Notes (mature March 2032)		3,759		(1,302)		2,457		3,759		(1,148)		2,611
MARAD Debt (matures February 2027)		12,200		(5,857)		6,343		12,200		(5,736)		6,464
Total deferred financing costs	$	32,872	$	(9,696)	$	23,176	$	32,872	$	(8,575)	$	24,297

(1) Relates to amounts allocated to the existing Term Loan and Revolving Credit Facility, which became effective in June 2013.

The following table details the components of our net interest expense (in thousands):


		Three Months Ended
		March 31,
		2014		2013

Interest expense (1)	$	8,362	$	12,578
Interest income		(717)		(316)
Capitalized interest		(3,162)		(1,939)
Net interest expense	$	4,483	$	10,323

(1) Interest expense of $2.8 million for the three-month period ended March 31, 2013 was allocated to ERT and is included in discontinued operations. Following the sale of ERT in February 2013, we ceased allocating interest expense to ERT, which then constituted a discontinued operation.

Income Taxes

3 Months Ended

Mar. 31, 2014

Income Taxes [Abstract]

Income Taxes

Note 7 — Income Taxes

The effective tax rates for the three-month periods ended March 31, 2014 and 2013 were 27.4% and 24.9%, respectively. The increase is primarily attributable to projected year over year increases in profitability in the United States.

Income taxes have been provided based on the U.S. statutory rate of 35% and at the local statutory rate for each foreign jurisdiction adjusted for items that are allowed as deductions for federal and foreign income tax reporting purposes, but not for book purposes. The primary differences between the statutory rate and our effective rate from continuing operations are as follows:


	Three Months Ended
	March 31,
	2014		2013

Statutory rate	35.0	%	35.0	%
Foreign provision	(8.5)		(10.7)
Other	0.9		0.6
Effective rate	27.4	%	24.9	%

Accumulated Other Comprehensive Income (Loss) ("OCI")

3 Months Ended

Mar. 31, 2014

Accumulated Other Comphrensive Income (Loss) ("OCI") [Abstract]

Accumulated Other Comprehensive Income (Loss) ("OCI")

Note 8 — Accumulated Other Comprehensive Income (Loss) (“OCI”)

The components of Accumulated OCI are as follows (in thousands):


		March 31,		December 31,
		2014		2013

Cumulative foreign currency translation adjustment	$	(9,350)	$	(10,697)
Unrealized loss on hedges, net (1)		(6,928)		(9,991)
Accumulated other comprehensive loss	$	(16,278)	$	(20,688)

(1) Amounts are related to foreign currency hedges for the Grand Canyon, the Grand Canyon II and the Grand Canyon III charters as well as interest rate swap contracts for the Term Loan, and are net of deferred income taxes totaling $3.7 million and $5.4 million as of March 31, 2014 and December 31, 2013, respectively (Notes 6 and 14).

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

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+ Details

Earnings Per Share

3 Months Ended

Mar. 31, 2014

Earnings Per Share [Abstract]

Earnings Per Share

Note 9 — Earnings Per Share

We have shares of restricted stock issued and outstanding, which currently are unvested. Holders of such shares of unvested restricted stock are entitled to the same liquidation and dividend rights as the holders of our outstanding unrestricted common stock and the shares are thus considered participating securities. Under applicable accounting guidance, the undistributed earnings for each period are allocated based on the participation rights of both the common shareholders and holders of any participating securities as if earnings for the respective periods had been distributed. Because both the liquidation and dividend rights are identical, the undistributed earnings are allocated on a proportionate basis. Further, we are required to compute earnings per share (“EPS”) amounts under the two class method in periods in which we have earnings from continuing operations. For periods in which we have a net loss we do not use the two class method as holders of our restricted shares are not contractually obligated to share in such losses.

The presentation of basic EPS amounts on the face of the accompanying condensed consolidated statements of operations is computed by dividing the net income applicable to Helix common shareholders by the weighted average shares of outstanding common stock. The calculation of diluted EPS is similar to basic EPS, except that the denominator includes dilutive common stock equivalents and the income included in the numerator excludes the effects of the impact of dilutive common stock equivalents, if any. The computations of the numerator (income) and denominator (shares) to derive the basic and diluted EPS amounts presented on the face of the accompanying condensed consolidated statements of operations are as follows (in thousands):


		Three Months Ended			Three Months Ended
		March 31, 2014			March 31, 2013
		Income	Shares		Income	Shares
Basic:
Continuing operations:
Net income applicable to Helix	$	53,719		$	1,615
Less: Income from discontinued operations, net of tax		-			(1,058)
Net income from continuing operations		53,719			557
Less: Undistributed income allocable to participating securities – continuing operations		(286)			(5)
Net income applicable to common shareholders – continuing operations	$	53,433	105,126	$	552	105,032


Discontinued operations:
Income from discontinued operations, net of tax	$	-		$	1,058
Less: Undistributed income allocable to participating securities – discontinued operations		-			(8)
Net income applicable to common shareholders – discontinued operations	$	-	105,126	$	1,050	105,032


		Three Months Ended			Three Months Ended
		March 31, 2014			March 31, 2013
		Income	Shares		Income	Shares
Diluted:
Continuing operations:
Net income applicable to common shareholders – continuing operations	$	53,433	105,126	$	552	105,032
Effect of dilutive securities:
Share-based awards other than participating securities		-	249		-	133
Undistributed income reallocated to participating securities		1	-		-	-
Net income applicable to common shareholders – continuing operations	$	53,434	105,375	$	552	105,165

Discontinued operations:
Income from discontinued operations, net of tax	$	-	105,375	$	1,058	105,165

No diluted shares were included for the 2032 Notes for the three-month periods ended March 31, 2014 and 2013 as the conversion price of $25.02 and the conversion trigger of $32.53 per share were not met in either period, and because we have the right to settle any such future conversions in cash at our sole discretion (Note 6).

Employee Benefit Plans

3 Months Ended

Mar. 31, 2014

Employee Benefit Plans [Abstract]

Employee Benefit Plans

Note 10 — Employee Benefit Plans

Stock-Based Compensation Plans

We have two stock-based compensation plans: the 1995 Long-Term Incentive Plan, as amended (the “1995 Incentive Plan”) and the 2005 Long-Term Incentive Plan, as amended and restated effective May 9, 2012 (the “2005 Incentive Plan”). As of March 31, 2014, there were 6.5 million shares available for issuance under the 2005 Incentive Plan, which includes a maximum of 2.0 million shares that may be granted as incentive stock options. There were no stock option grants in the three-month periods ended March 31, 2014 and 2013. During the three-month period ended March 31, 2014, the following grants of other share-based awards were made to executive officers and non-employee members of our Board of Directors under the 2005 Incentive Plan:


Date of Grant	Shares		Grant Date Fair Value Per Share	Vesting Period

January 2, 2014 (1)	73,609	$	23.18	33% per year over three years
January 2, 2014 (2)	73,609		26.79	100% on January 1, 2017
January 2, 2014 (3)	2,724		23.18	100% on January 1, 2016

(1) Reflects the grant of restricted shares to our executive officers.

(2) Reflects the grant of performance share units (“PSUs”) to our executive officers. The estimated fair value of the PSUs on grant date was determined using a Monte Carlo simulation model. The PSUs provide for an award based on the performance of our common stock over a three-year period with the maximum award being 200% of the original awarded PSUs and the minimum amount being zero. The vested PSUs will be settled in an equivalent number of shares of our common stock unless the Compensation Committee of our Board of Directors elects to pay in cash.

(3) Reflects the grant of restricted shares to certain members of our Board of Directors who have made an election to take their quarterly fees in stock in lieu of cash.

Compensation cost is recognized over the respective vesting periods on a straight-line basis. For the three-month periods ended March 31, 2014 and 2013, $1.7 million and $3.4 million, respectively, were recognized as stock-based compensation expense related to share-based awards. Additionally, for the three-month period ended March 31, 2013, $1.3 million of stock-based compensation expense was included in our discontinued operations.

Long-Term Incentive Cash Plan

The 2005 Incentive Plan and the 2009 Long-Term Incentive Cash Plan (the “LTI Plans”) provide long-term cash-based compensation to eligible employees. Cash awards historically have been both fixed sum amounts payable (for non-executive management only) as well as cash awards indexed to our common stock with the payment amount at each vesting date fluctuating based on the performance of our common stock (for both executive and non-executive management). These are measured based on the performance of our stock price over the applicable award period compared to a base price determined by the Compensation Committee of our Board of Directors at the time of the award. Cash award payments under the LTI Plans are made each year on the anniversary date of the award. Cash awards granted prior to 2012 have a vesting period of five years and cash awards granted in 2014, 2013 and 2012 have a vesting period of three years. The LTI Plans are considered liability plans and as such are re-measured to fair value each reporting period with corresponding changes in the liability amount being reflected in our results of operations.

The cash awards under the LTI Plans to our executive officers and selected management employees totaled $8.9 million in 2014 and $8.4 million in 2013. Total compensation expense associated with the cash awards issued pursuant to the LTI Plans was $1.7 million ($0.9 million related to our executive officers) and $2.5 million ($1.6 million related to our executive officers) for the three-month periods ended March 31, 2014 and 2013, respectively. The liability balance for the cash awards issued under the LTI Plans was $7.4 million at March 31, 2014 and $14.8 million at December 31, 2013, including $5.3 million at March 31, 2014 and $11.1 million at December 31, 2013 associated with the cash awards issued to our executive officers under the LTI plans.

Employee Stock Purchase Plan

In May 2012, our shareholders approved the Helix Energy Solutions Group, Inc. Employee Stock Purchase Plan (the “ESPP”). The ESPP has 1.5 million shares authorized for issuance, of which 1.3 million shares were available for issuance as of March 31, 2014. Eligible employees who participate in the ESPP may purchase shares of our common stock through payroll deductions on an after-tax basis over a four-month period beginning on January 1, May 1, and September 1 of each year during the term of the ESPP, subject to certain restrictions and limitations established by the Compensation Committee of our Board of Directors and Section 423 of the Internal Revenue Code. The per share price of common stock purchased under the ESPP is equal to 85% of the lesser of (i) its fair market value on the first trading day of the purchase period or (ii) its fair market value on the last trading day of the purchase period. The total value of the ESPP awards is calculated using the component approach where each award is computed as the sum of 15% of a share of non-vested stock, a call option on 85% of a share of non-vested stock, and a put option on 15% of a share of non-vested stock. Share-based compensation expense with respect to the ESPP was $0.2 million for the three-month periods ended March 31, 2014 and 2013.

For more information regarding our employee benefit plans, including our stock-based compensation plans, our long-term incentive cash plan and our employee stock purchase plan, see Note 9 to our 2013 Form 10-K.

Business Segment Information

3 Months Ended

Mar. 31, 2014

Business Segment Information [Abstract]

Business Segment Information

Note 11 — Business Segment Information

We have four business segments: Well Intervention, Robotics, Subsea Construction and Production Facilities. Our Well Intervention segment includes our vessels and related equipment that are used to perform both heavy and light well intervention services primarily in the Gulf of Mexico and North Sea regions. Our well intervention vessels include the Q4000, the Helix 534, the Seawell, the Well Enhancer and the Skandi Constructor, which is a chartered vessel. We are currently constructing two additional well intervention vessels, the Q5000 and the Q7000. We have also contracted for two newbuild chartered vessels, which are expected to be delivered in 2016 and used in connection with our contracts to provide well intervention services offshore Brazil. Our Robotics segment currently operates five chartered vessels and also includes remotely operated vehicles (“ROVs”), trenchers and ROVDrills designed to complement offshore construction and well intervention services. We have sold substantially all of the assets associated with our former Subsea Construction operations, including the sale of our Ingleside spoolbase in January 2014. The Production Facilities segment includes the HP I as well as our equity investments in Deepwater Gateway and Independence Hub that are accounted for under the equity method. All material intercompany transactions between the segments have been eliminated. In February 2013, we sold ERT and as a result, we have presented the assets and liabilities included in the sale of ERT and the historical operating results of our former Oil and Gas segment as discontinued operations in the accompanying consolidated financial statements. See Note 3 to our 2013 Form 10-K for additional information regarding our discontinued operations.

We evaluate our performance based on operating income and income before income taxes of each segment. Segment assets are comprised of all assets attributable to each reportable segment. Corporate and other includes all assets not directly identifiable with our business segments, most notably the majority of our cash and cash equivalents. Certain financial data by reportable segment are summarized as follows (in thousands):


		Three Months Ended
		March 31,
		2014		2013
Net revenues —
Well Intervention	$	159,700	$	106,332
Robotics		87,890		64,196
Subsea Construction		358		27,526
Production Facilities		23,140		20,393
Intercompany elimination		(17,516)		(21,018)
Total	$	253,572	$	197,429

Income (loss) from operations —
Well Intervention	$	48,733	$	36,450
Robotics		11,219		(697)
Subsea Construction (1)		10,685		3,551
Production Facilities		11,384		11,185
Corporate and other		(13,875)		(33,531)
Intercompany elimination		(1,198)		(1,720)
Total	$	66,948	$	15,238

Equity in earnings of equity investments	$	708	$	610

(1)

Amount in 2014 includes the $10.5 million gain on the sale in January 2014 of our Ingleside spoolbase.

Intercompany segment revenues are as follows (in thousands):


		Three Months Ended
		March 31,
		2014		2013

Well Intervention	$	5,461	$	3,829
Robotics		12,055		12,199
Subsea Construction		-		317
Production Facilities		-		4,673
Total	$	17,516	$	21,018

Intercompany segment profits (losses), which only relate to intercompany capital projects, are as follows (in thousands):


		Three Months Ended
		March 31,
		2014		2013

Well Intervention	$	(62)	$	(19)
Robotics		1,304		1,625
Subsea Construction		-		158
Production Facilities		(44)		(44)
Total	$	1,198	$	1,720

Segment assets are comprised of all assets attributable to each reportable segment. Corporate and other includes all assets not directly identifiable with our business segments, most notably the majority of our cash and cash equivalents. The following table reflects total assets by reportable segment (in thousands):


		March 31,		December 31,
		2014		2013

Well Intervention	$	1,308,535	$	1,245,229
Robotics		289,806		282,373
Subsea Construction		2,614		38,054
Production Facilities		482,184		495,829
Corporate and other		476,856		482,795
Total	$	2,559,995	$	2,544,280

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599

+ Details

Commitments And Contingencies And Other Matters	3 Months Ended
Commitments And Contingencies And Other Matters	Mar. 31, 2014
Commitments And Contingencies and Other Matters [Abstract]
Commitments And Contingencies And Other Matters	Note 12 — Commitments and Contingencies and Other Matters Commitments In March 2012, we executed a contract with a shipyard in Singapore for the construction of a newbuild semi-submersible well intervention vessel, the Q5000. This $386.5 million shipyard contract represents the majority of the expected costs associated with the construction of the Q5000. Pursuant to the terms of this contract, payments are made in a fixed percentage of the contract price, together with any variations, on contractually scheduled dates. The vessel is expected to be completed and placed in service in 2015. At March 31, 2014, our total investment in the Q5000 was $213.7 million, including $173.8 million of scheduled payments made to the shipyard. In August 2012, we acquired the Discoverer 534 drillship from a subsidiary of Transocean Ltd. for $85 million. The vessel, renamed the Helix 534, underwent upgrades and modifications to render it suitable for use as a well intervention vessel and commenced well intervention operations in the Gulf of Mexico in February 2014. At March 31, 2014, our total investment for the Helix 534 was $219.4 million, including related well control equipment. In February 2013, we contracted to charter the Grand Canyon II and Grand Canyon III for use in our robotics operations. The terms of the charters will be five years from the respective delivery dates, both of which are expected to be in 2015. In September 2013, we executed a second contract with the same shipyard in Singapore that is currently constructing the Q5000. This contract provides for the construction of a newbuild semi-submersible well intervention vessel, the Q7000, which will be built to North Sea standards. This $346.0 million shipyard contract represents the majority of the expected costs associated with the construction of the Q7000. Pursuant to the terms of this contract, 20% of the contract price was paid upon the signing of the contract and the remaining 80% will be paid upon the delivery of the vessel, which is expected to occur in 2016. At March 31, 2014, our total investment in the Q7000 was $80.8 million, including the $69.2 million paid to the shipyard upon signing the contract. In February 2014, we entered into agreements with Petróleo Brasileiro S.A. (“Petrobras”) to provide well intervention services offshore Brazil. The initial term of the agreements with Petrobras is for four years with options to extend. In connection with the Petrobras agreements, we entered into charter agreements with Siem Offshore AS for two newbuild monohull vessels, both of which are expected to be in service for Petrobras in 2016. At March 31, 2014, our total investment in the topside equipment for the two vessels was $0.1 million. Contingencies and Claims Under terms of the equity purchase agreement for the sale of ERT, we required the buyer to provide bonding in a sufficient amount as determined by the Bureau of Ocean Energy Management (the “BOEM”) to cover the decommissioning costs of ERT’s lease properties and thus to replace and allow for a full discharge of our existing guaranty to the BOEM for ERT’s lease obligations. The buyer posted the bonding required by the equity purchase agreement, and a formal request to the BOEM for a release of our guaranty is pending. Litigation On July 8, 2011, a shareholder derivative lawsuit styled City of Sterling Heights Police & Fire Retirement System v. Owen Kratz, et al. was filed in the United States District Court for the Southern District of Texas, Houston Division. In the suit, the plaintiff makes claims against our Board of Directors, certain of our former directors, certain of our current and former executive officers, and the independent compensation consultant to the Compensation Committee of our Board of Directors, for breaches of the fiduciary duty of loyalty, unjust enrichment and aiding and abetting the alleged breaches of fiduciary duty relating to the long-term equity awards granted in 2010 to certain of the Company’s then executive officers who are defendants. The defendants filed a motion to dismiss the claim asserting that the plaintiff has not (i) pled specific facts excusing its failure to make pre-suit demand on our Board of Directors as required by Minnesota law, (ii) filed proper verification, or (iii) stated a claim. A ruling regarding the motion is pending. On May 12, 2012, a shareholder derivative lawsuit styled Mark Lucas v. Owen Kratz, et al. was filed in the 270th Judicial District in the District Court of Harris County, Texas. In the suit, the plaintiff makes claims against our Board of Directors, certain of our former directors, certain of our current and former executive officers, and the independent compensation consultant to the Compensation Committee of our Board of Directors, for breaches of the fiduciary duties of candor, good faith and loyalty; unjust enrichment; and aiding and abetting the alleged breaches of fiduciary duty relating to the long-term equity awards granted in 2010 to certain of our executive officers. This case is essentially a “copycat” complaint asserting similar causes of action arising out of the same facts as set forth in the federal action described above. The plaintiff is generally demanding disgorgement of the excessive compensation, restraint on the disposition/exercise of the alleged improperly awarded equity, implementation of additional internal controls, and attorney’s fees and costs of litigation. The defendants filed motions to stay and dismiss the proceeding, which motions were denied by the trial court judge. The defendants then filed a petition for a writ of mandamus with the state appellate court, in which they requested that court to direct the district court to grant the motion to stay or dismiss the case. The appellate court denied the request to grant mandamus with respect to this requested relief, but did grant a writ of mandamus ordering the lower court to vacate its ruling to the extent the plaintiff failed to plead with particularity that our Board of Directors wrongfully refused his demand, and that he was a shareholder of record at the relevant time. A special committee of our Board of Directors subsequently determined to reject the plaintiff’s demand regarding this matter, and based on that rejection, as well as the plaintiff’s pleadings, the defendants filed a motion for summary judgment in December 2013. The court granted the defendants’ motion for summary judgment in March 2014, and the plaintiffs have appealed that ruling. We are involved in various legal proceedings, primarily involving claims for personal injury under the General Maritime Laws of the United States and the Jones Act based on alleged negligence. In addition, from time to time we incur other claims, such as contract disputes, in the normal course of business.

Fair Value Measurements

3 Months Ended

Mar. 31, 2014

Fair Value Measurements [Abstract]

Fair Value Measurements

Note 13 — Fair Value Measurements

Certain of our financial assets and liabilities are measured and reported at fair value on a recurring basis as required under applicable accounting requirements. These requirements establish a hierarchy for inputs used in measuring fair value. The fair value is to be calculated based on assumptions that market participants would use in pricing assets and liabilities and not on assumptions specific to the entity. The statement requires that each asset and liability carried at fair value be classified into one of the following categories:


	•		Level 1. Observable inputs such as quoted prices in active markets;
	•		Level 2. Inputs, other than the quoted prices in active markets, that are observable either directly or indirectly; and
	•		Level 3. Unobservable inputs for which there is little or no market data, which require the reporting entity to develop its own assumptions.

Assets and liabilities measured at fair value are based on one or more of three valuation techniques as follows:

(a)

Market Approach. Prices and other relevant information generated by market transactions involving identical or comparable assets or liabilities.

(b)

Cost Approach. Amount that would be required to replace the service capacity of an asset (replacement cost).

(c)

Income Approach. Techniques to convert expected future cash flows to a single present amount based on market expectations (including present value techniques, option-pricing and excess earnings models).

Our financial instruments include cash and cash equivalents, accounts receivable, accounts payable, our long-term debt and various derivative instruments. The carrying amount of cash and cash equivalents, accounts receivable and accounts payable approximates fair value due to the highly liquid nature of these instruments. The following table provides additional information related to other financial instruments measured at fair value on a recurring basis at March 31, 2014 (in thousands):


		Level 1		Level 2 (1)		Level 3		Total	Valuation Technique
Assets:
Foreign exchange contracts	$	–	$	1	$	–	$	1	(c)
Interest rate swaps		–		549		–		549	(c)

Liabilities:
Fair value of long-term debt (2)		536,210		107,021		–		643,231	(a)
Foreign exchange contracts		–		10,418		–		10,418	(c)
Interest rate swaps		–		789		–		789	(c)
Total net liability	$	536,210	$	117,678	$	–	$	653,888

(1) Unless otherwise indicated, the fair value of our Level 2 derivative instruments reflects our best estimate and is based upon exchange or over-the-counter quotations whenever they are available. Quoted valuations may not be available due to location differences or terms that extend beyond the period for which quotations are available. Where quotes are not available, we utilize other valuation techniques or models to estimate market values. These modeling techniques require us to make estimations of future prices, price correlation and market volatility and liquidity based on market data. Our actual results may differ from our estimates, and these differences could be positive or negative.

(2) See Note 6 for additional information regarding our long-term debt. The fair value of our long-term debt is as follows (in thousands):


		March 31, 2014
		Carrying Value		Fair Value (b)

Term Loan (matures June 2018)	$	288,750	$	288,750
2032 Notes (mature March 2032) (a)		200,000		247,460
MARAD Debt (matures February 2027)		97,513		107,021
Total debt	$	586,263	$	643,231

(a) Carrying value excludes the related unamortized debt discount of $25.1 million at March 31, 2014.

(b) The estimated fair value of all debt, other than the MARAD Debt, was determined using Level 1 inputs using the market approach. The fair value of the MARAD Debt was determined using a third party evaluation of the remaining average life and outstanding principal balance of the MARAD indebtedness as compared to other governmental obligations in the marketplace with similar terms. The fair value of the MARAD Debt was estimated using Level 2 fair value inputs using the market approach.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Derivative Instruments And Hedging Activities

3 Months Ended

Mar. 31, 2014

Derivative Instruments And Hedging Activities [Abstract]

Derivative Instruments And Hedging Activities

Note 14 — Derivative Instruments and Hedging Activities

Our operations are exposed to market risk associated with interest rates and foreign currency exchange rates. Our risk management activities involve the use of derivative financial instruments to hedge the impact of market risk exposure related to variable interest rates and foreign currency exchange rates. All derivatives are reflected in the accompanying condensed consolidated balance sheets at fair value.

We engage solely in cash flow hedges. Hedges of cash flow exposure are entered into to hedge a forecasted transaction or the variability of cash flows to be received or paid related to a recognized asset or liability. Changes in the derivative fair values that are designated as cash flow hedges are deferred to the extent that the hedges are effective. These fair value changes are recorded as a component of Accumulated OCI (a component of shareholders’ equity) until the hedged transactions occur and are recognized in earnings. The ineffective portion of changes in the fair value of cash flow hedges is recognized immediately in earnings. In addition, any change in the fair value of a derivative that does not qualify for hedge accounting is recorded in earnings in the period in which the change occurs.

For additional information regarding our accounting for derivatives, see Notes 2 and 16 to our 2013 Form 10-K.

Interest Rate Risk

From time to time, we enter into interest rate swaps to stabilize cash flows related to our long-term debt subject to variable interest rates. Changes in the fair value of an interest rate swap are deferred to the extent the swap is effective. These changes are recorded as a component of Accumulated OCI until the anticipated interest payments occur and are recognized in interest expense. The ineffective portion of the interest rate swap, if any, is recognized immediately in earnings within the line titled “Net interest expense.” The amount of ineffectiveness associated with our interest rate swap contracts was immaterial for all periods presented. In September 2013, we entered into interest rate swap contracts to fix the interest rate on $148.1 million of our Term Loan (Note 6). These monthly contracts began in October 2013 and extend through October 2016.

Foreign Currency Exchange Rate Risk

Because we operate in various regions in the world, we conduct a portion of our business in currencies other than the U.S. dollar. We entered into various foreign currency exchange contracts to stabilize expected cash outflows relating to certain vessel charters that are denominated in British pounds and Norwegian kroner.

In January 2013, we entered into foreign currency exchange contracts to hedge through September 2017 the foreign currency exposure associated with the Grand Canyon charter payments ($104.6 million) denominated in Norwegian kroner (NOK591.3 million). In February 2013, we entered into similar foreign currency exchange contracts to hedge our foreign currency exposure with respect to the Grand Canyon II and Grand Canyon III charter payments ($100.4 million and $98.8 million, respectively) denominated in Norwegian kroner (NOK594.7 million and NOK595.0 million, respectively), through July 2019 and February 2020, respectively. These contracts currently qualify for hedge accounting treatment. All of our remaining foreign exchange contracts are not accounted for as hedge contracts and changes in their fair value are marked-to-market in earnings in each reporting period.

Quantitative Disclosures Related to Derivative Instruments

As a result of the announcement in December 2012 of the sale of ERT, we de-designated all of our remaining oil and natural gas derivative contracts as hedging instruments. In addition, under the terms of our former credit agreement (Note 6), we were required to use a portion of the proceeds from the sales of ERT, the Caesar and the Express to make payments to reduce our indebtedness. Because of the probability that the former term loan debt would be totally repaid before the expiration of our then existing interest rate swaps, we also concluded that those swaps no longer qualified as cash flow hedges. In February 2013, we settled all of our outstanding commodity derivative contracts and the then existing interest rate swap contracts for payments of approximately $22.5 million and $0.6 million, respectively. The mark-to-market adjustments related to our commodity derivative contracts and interest rate swaps are reflected in “Loss on commodity derivative contracts” and “Other expense, net,” respectively, in the accompanying condensed consolidated statements of operations.

The following table presents the fair value and balance sheet classification of our derivative instruments that were not designated as hedging instruments (in thousands):


	March 31, 2014			December 31, 2013
	Balance Sheet		Fair	Balance Sheet		Fair
	Location		Value	Location		Value
Asset Derivatives:
Foreign exchange contracts	Other current assets	$	1	Other current assets	$	69
		$	1		$	69

The following table presents the fair value and balance sheet classification of our derivative instruments that were designated as hedging instruments (in thousands):


	March 31, 2014			December 31, 2013
	Balance Sheet		Fair	Balance Sheet		Fair
	Location		Value	Location		Value
Asset Derivatives:
Interest rate swaps	Other assets, net	$	549	Other assets, net	$	446
		$	549		$	446

Liability Derivatives:
Foreign exchange contracts	Accrued liabilities	$	1,840	Accrued liabilities	$	1,905
Interest rate swaps	Accrued liabilities		789	Accrued liabilities		746
Foreign exchange contracts	Other non-current liabilities		8,578	Other non-current liabilities		13,166
		$	11,207		$	15,817

Ineffectiveness associated with our derivatives was immaterial for all periods presented. The following tables present the impact that derivative instruments designated as cash flow hedges had on our Accumulated OCI (net of tax) and our condensed consolidated statements of operations (in thousands). We estimate that as of March 31, 2014 $1.7 million of unrealized losses in Accumulated OCI associated with our derivatives is expected to be reclassified into earnings within the next 12 months.


		Gain (Loss) Recognized in OCI
		on Derivatives, Net of Tax
		(Effective Portion)
		Three Months Ended
		March 31,
		2014		2013

Foreign exchange contracts	$	3,024	$	(7,238)
Interest rate swaps		39		-
	$	3,063	$	(7,238)


			Gain (Loss) Reclassified from
			Accumulated OCI into Earnings
	Location of Gain (Loss)		(Effective Portion)
	Reclassified from		Three Months Ended
	Accumulated OCI into Earnings		March 31,
	(Effective Portion)		2014		2013

Interest rate swaps	Net interest expense	$	(214)	$	-
Foreign exchange contracts	Cost of sales		(444)		(150)
		$	(658)	$	(150)

The following table presents the impact that derivative instruments not designated as hedges had on our condensed consolidated statements of operations (in thousands):


			Gain (Loss) Recognized
			in Earnings on Derivatives
	Location of Gain (Loss)		Three Months Ended
	Recognized in Earnings		March 31,
	on Derivatives		2014		2013

Oil and natural gas commodity contracts	Loss on commodity derivative contracts	$	-	$	(14,113)
Interest rate swaps	Other expense, net		-		(86)
Foreign exchange contracts	Other expense, net		7		(1,244)
		$	7	$	(15,443)

- Definition

The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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+ Details

Details Of Certain Accounts (Tables)

3 Months Ended

Mar. 31, 2014

Details Of Certain Accounts [Abstract]

Schedule Of Other Current Assets


		March 31,		December 31,
		2014		2013

Note receivable (1)	$	10,000	$	-
Other receivables (2)		8,221		785
Prepaid insurance		3,743		7,038
Other prepaids		14,555		12,999
Spare parts inventory		1,888		1,038
Derivative assets (Note 14)		1		69
Other		8,351		7,780
Total other current assets	$	46,759	$	29,709

Schedule Of Other Assets, Net


		March 31,		December 31,
		2014		2013

Note receivable (1)	$	20,000	$	-
Deferred dry dock expenses, net		21,441		20,833
Deferred financing costs, net (Note 6)		23,176		24,297
Intangible assets with finite lives, net		640		622
Other		1,668		1,515
Total other assets, net	$	66,925	$	47,267

Schedule Of Accrued Liabilities


		March 31,		December 31,
		2014		2013

Accrued payroll and related benefits	$	32,241	$	50,527
Current asset retirement obligations		1,201		2,024
Unearned revenue		9,658		19,608
Billing in excess of cost		-		1,677
Accrued interest		2,031		4,187
Derivative liability (Note 14)		2,629		2,651
Taxes payable excluding income tax payable		4,860		4,811
Pipelay assets sale deposit		-		5,000
Other		7,194		5,997
Total accrued liabilities	$	59,814	$	96,482

Statement Of Cash Flow Information (Tables)

3 Months Ended

Mar. 31, 2014

Statement Of Cash Flow Information [Abstract]

Supplemental Cash Flow Information


		Three Months Ended
		March 31,
		2014		2013

Interest paid, net of interest capitalized	$	4,635	$	20,164
Income taxes paid	$	13,118	$	4,521

Equity Investments (Tables)

3 Months Ended

Mar. 31, 2014

Equity Investments [Abstract]

Distributions From Equity Investments


		Three Months Ended
		March 31,
		2014		2013

Deepwater Gateway	$	2,000	$	1,500
Independence Hub		800		1,160
Total	$	2,800	$	2,660

Long-Term Debt (Tables)

3 Months Ended

Mar. 31, 2014

Long-Term Debt [Abstract]

Schedule Of Maturities Of Long-Term Debt


		Term Loan		MARAD Debt		2032 Notes (1)		Total

Less than one year	$	15,000	$	5,508	$	-	$	20,508
One to two years		26,250		5,783		-		32,033
Two to three years		30,000		6,072		-		36,072
Three to four years		30,000		6,375		-		36,375
Four to five years		187,500		6,693		-		194,193
Over five years		-		67,082		200,000		267,082
Total debt		288,750		97,513		200,000		586,263
Current maturities		(15,000)		(5,508)		-		(20,508)
Long-term debt, less current maturities		273,750		92,005		200,000		565,755
Unamortized debt discount (2)		-		-		(25,119)		(25,119)
Long-term debt	$	273,750	$	92,005	$	174,881	$	540,636

(2) The Convertible Senior Notes due 2032 will increase to their principal amount through accretion of non-cash interest charges through March 2018.

Schedule Of Deferred Financing Costs


		March 31, 2014						December 31, 2013
		Gross Carrying Amount		Accumulated Amortization		Net		Gross Carrying Amount		Accumulated Amortization		Net

Term Loan (matures June 2018) (1)	$	3,638	$	(546)	$	3,092	$	3,638	$	(364)	$	3,274
Revolving Credit Facility (matures June 2018) (1)		13,275		(1,991)		11,284		13,275		(1,327)		11,948
2032 Notes (mature March 2032)		3,759		(1,302)		2,457		3,759		(1,148)		2,611
MARAD Debt (matures February 2027)		12,200		(5,857)		6,343		12,200		(5,736)		6,464
Total deferred financing costs	$	32,872	$	(9,696)	$	23,176	$	32,872	$	(8,575)	$	24,297

(1) Relates to amounts allocated to the existing Term Loan and Revolving Credit Facility, which became effective in June 2013.

Schedule Of Interest Expense And Capitalized Interest


		Three Months Ended
		March 31,
		2014		2013

Interest expense (1)	$	8,362	$	12,578
Interest income		(717)		(316)
Capitalized interest		(3,162)		(1,939)
Net interest expense	$	4,483	$	10,323

Income Taxes (Tables)

3 Months Ended

Mar. 31, 2014

Income Taxes [Abstract]

Schedule Of Effective Income Tax Rate Reconciliation


	Three Months Ended
	March 31,
	2014		2013

Statutory rate	35.0	%	35.0	%
Foreign provision	(8.5)		(10.7)
Other	0.9		0.6
Effective rate	27.4	%	24.9	%

Accumulated Other Comprehensive Income (Loss) ("OCI") (Tables)

3 Months Ended

Mar. 31, 2014

Accumulated Other Comphrensive Income (Loss) ("OCI") [Abstract]

Components Of Accumulated Other Comprehensive Income (Loss)


		March 31,		December 31,
		2014		2013

Cumulative foreign currency translation adjustment	$	(9,350)	$	(10,697)
Unrealized loss on hedges, net (1)		(6,928)		(9,991)
Accumulated other comprehensive loss	$	(16,278)	$	(20,688)

Earnings Per Share (Tables)

3 Months Ended

Mar. 31, 2014

Earnings Per Share [Abstract]

Computations Of Basic And Diluted EPS


		Three Months Ended			Three Months Ended
		March 31, 2014			March 31, 2013
		Income	Shares		Income	Shares
Basic:
Continuing operations:
Net income applicable to Helix	$	53,719		$	1,615
Less: Income from discontinued operations, net of tax		-			(1,058)
Net income from continuing operations		53,719			557
Less: Undistributed income allocable to participating securities – continuing operations		(286)			(5)
Net income applicable to common shareholders – continuing operations	$	53,433	105,126	$	552	105,032


Discontinued operations:
Income from discontinued operations, net of tax	$	-		$	1,058
Less: Undistributed income allocable to participating securities – discontinued operations		-			(8)
Net income applicable to common shareholders – discontinued operations	$	-	105,126	$	1,050	105,032


		Three Months Ended			Three Months Ended
		March 31, 2014			March 31, 2013
		Income	Shares		Income	Shares
Diluted:
Continuing operations:
Net income applicable to common shareholders – continuing operations	$	53,433	105,126	$	552	105,032
Effect of dilutive securities:
Share-based awards other than participating securities		-	249		-	133
Undistributed income reallocated to participating securities		1	-		-	-
Net income applicable to common shareholders – continuing operations	$	53,434	105,375	$	552	105,165

Discontinued operations:
Income from discontinued operations, net of tax	$	-	105,375	$	1,058	105,165

Employee Benefit Plans (Tables)

3 Months Ended

Mar. 31, 2014

Employee Benefit Plans [Abstract]

Schedule Of Restricted Shares Granted To Executive Officers Management Employees And Non Employee Members Table


Date of Grant	Shares		Grant Date Fair Value Per Share	Vesting Period

January 2, 2014 (1)	73,609	$	23.18	33% per year over three years
January 2, 2014 (2)	73,609		26.79	100% on January 1, 2017
January 2, 2014 (3)	2,724		23.18	100% on January 1, 2016

(1) Reflects the grant of restricted shares to our executive officers.

(3) Reflects the grant of restricted shares to certain members of our Board of Directors who have made an election to take their quarterly fees in stock in lieu of cash.

Business Segment Information (Tables)

3 Months Ended

Mar. 31, 2014

Business Segment Information [Abstract]

Schedule Of Segment Reporting Information By Segment


		Three Months Ended
		March 31,
		2014		2013
Net revenues —
Well Intervention	$	159,700	$	106,332
Robotics		87,890		64,196
Subsea Construction		358		27,526
Production Facilities		23,140		20,393
Intercompany elimination		(17,516)		(21,018)
Total	$	253,572	$	197,429

Income (loss) from operations —
Well Intervention	$	48,733	$	36,450
Robotics		11,219		(697)
Subsea Construction (1)		10,685		3,551
Production Facilities		11,384		11,185
Corporate and other		(13,875)		(33,531)
Intercompany elimination		(1,198)		(1,720)
Total	$	66,948	$	15,238

Equity in earnings of equity investments	$	708	$	610

(1)

Amount in 2014 includes the $10.5 million gain on the sale in January 2014 of our Ingleside spoolbase.

Summary Of Intercompany Segment Revenues


		Three Months Ended
		March 31,
		2014		2013

Well Intervention	$	5,461	$	3,829
Robotics		12,055		12,199
Subsea Construction		-		317
Production Facilities		-		4,673
Total	$	17,516	$	21,018

Intercompany Segment Gross Profit (Losses)


		Three Months Ended
		March 31,
		2014		2013

Well Intervention	$	(62)	$	(19)
Robotics		1,304		1,625
Subsea Construction		-		158
Production Facilities		(44)		(44)
Total	$	1,198	$	1,720

Summary Of Identifiable Assets


		March 31,		December 31,
		2014		2013

Well Intervention	$	1,308,535	$	1,245,229
Robotics		289,806		282,373
Subsea Construction		2,614		38,054
Production Facilities		482,184		495,829
Corporate and other		476,856		482,795
Total	$	2,559,995	$	2,544,280

Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2014

Fair Value Measurements [Abstract]

Assets And Liabilities Measured At Fair Value On A Recurring Basis

		Level 1		Level 2 (1)		Level 3		Total	Valuation Technique
Assets:
Foreign exchange contracts	$	–	$	1	$	–	$	1	(c)
Interest rate swaps		–		549		–		549	(c)

Liabilities:
Fair value of long-term debt (2)		536,210		107,021		–		643,231	(a)
Foreign exchange contracts		–		10,418		–		10,418	(c)
Interest rate swaps		–		789		–		789	(c)
Total net liability	$	536,210	$	117,678	$	–	$	653,888

(2) See Note 6 for additional information regarding our long-term debt. The fair value of our long-term debt is as follows (in thousands):

Fair Value Of Long Term Debt


		March 31, 2014
		Carrying Value		Fair Value (b)

Term Loan (matures June 2018)	$	288,750	$	288,750
2032 Notes (mature March 2032) (a)		200,000		247,460
MARAD Debt (matures February 2027)		97,513		107,021
Total debt	$	586,263	$	643,231

(a) Carrying value excludes the related unamortized debt discount of $25.1 million at March 31, 2014.

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6479336&loc=d3e64711-112823

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(e),(f))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=6584090&loc=d3e28878-108400

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21538-112644

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=6451184&loc=d3e28541-108399

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6451184&loc=d3e28551-108399

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21521-112644

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 22
-Article 5

+ Details

Derivative Instruments And Hedging Activities (Tables)

3 Months Ended

Mar. 31, 2014

Derivative Instruments And Hedging Activities [Abstract]

Derivatives Not Designated As Hedging Instruments


	March 31, 2014			December 31, 2013
	Balance Sheet		Fair	Balance Sheet		Fair
	Location		Value	Location		Value
Asset Derivatives:
Foreign exchange contracts	Other current assets	$	1	Other current assets	$	69
		$	1		$	69

Derivatives Designated As Hedging Instruments


	March 31, 2014			December 31, 2013
	Balance Sheet		Fair	Balance Sheet		Fair
	Location		Value	Location		Value
Asset Derivatives:
Interest rate swaps	Other assets, net	$	549	Other assets, net	$	446
		$	549		$	446

Liability Derivatives:
Foreign exchange contracts	Accrued liabilities	$	1,840	Accrued liabilities	$	1,905
Interest rate swaps	Accrued liabilities		789	Accrued liabilities		746
Foreign exchange contracts	Other non-current liabilities		8,578	Other non-current liabilities		13,166
		$	11,207		$	15,817

Impact Of Derivative Instruments On Accumulated Comprehensive Income (Loss)


		Gain (Loss) Recognized in OCI
		on Derivatives, Net of Tax
		(Effective Portion)
		Three Months Ended
		March 31,
		2014		2013

Foreign exchange contracts	$	3,024	$	(7,238)
Interest rate swaps		39		-
	$	3,063	$	(7,238)

Gain (Loss) Reclassified From Accumulated OCI Into Income


			Gain (Loss) Reclassified from
			Accumulated OCI into Earnings
	Location of Gain (Loss)		(Effective Portion)
	Reclassified from		Three Months Ended
	Accumulated OCI into Earnings		March 31,
	(Effective Portion)		2014		2013

Interest rate swaps	Net interest expense	$	(214)	$	-
Foreign exchange contracts	Cost of sales		(444)		(150)
		$	(658)	$	(150)

Impact Of Non Designated Derivative Instruments On Income Statement


			Gain (Loss) Recognized
			in Earnings on Derivatives
	Location of Gain (Loss)		Three Months Ended
	Recognized in Earnings		March 31,
	on Derivatives		2014		2013

Oil and natural gas commodity contracts	Loss on commodity derivative contracts	$	-	$	(14,113)
Interest rate swaps	Other expense, net		-		(86)
Foreign exchange contracts	Other expense, net		7		(1,244)
		$	7	$	(15,443)

Company Overview (Details) $ in Thousands		3 Months Ended	7 Months Ended
Company Overview (Details) $ in Thousands	Feb. 06, 2013 USD ($)	Mar. 31, 2014 USD ($) segment	Jan. 31, 2014 USD ($)
Company Overview [Line Items]
Number of reportable segments \| segment		4
Ownership percentage		100.00%
Acquisition of noncontrolling interests		$ 20,085
Proceeds from sale of assets		11,074
Gain on sale or acquisition of assets, net		11,496
Proceeds from divestiture of business	$ 624,000
Spoolbase Facility [Member]
Company Overview [Line Items]
Proceeds from sale of assets			$ 15,000
Promissory note		30,000
Gain on sale or acquisition of assets, net		$ 10,500

Details Of Certain Accounts (Other Current Assets) (Details) - USD ($)
$ in Thousands

3 Months Ended

Mar. 31, 2014

Dec. 31, 2013

Note receivable

^[1]

$ 10,000

Other receivables

^[2]

8,221

$ 785

Prepaid insurance

3,743

7,038

Other prepaids

14,555

12,999

Spare parts inventory

1,888

1,038

Derivative assets (Note 14)

Other

8,351

7,780

Total other current assets

$ 46,759

$ 29,709

Note receivable, interest rate

6.00%

Note receivable, periodic principal payment

$ 10,000

Insurance Settlement [Member]

Other receivables

$ 6,800

[1]	Relates to the promissory note we received in connection with the sale of our Ingleside spoolbase in January 2014. The note bears 6% interest and is payable quarterly commencing April 1, 2014. A $10 million principal reduction in the note’s balance is required to be paid to us on each December 31 in 2014, 2015 and 2016.
[2]	Includes a $6.8 million insurance reimbursement receivable related to asset retirement work previously performed, which was received in April 2014. The entire amount of insurance reimbursement is included in “Other income - oil and gas” in the accompanying condensed consolidated statement of operations.

Details Of Certain Accounts (Other Assets, Net) (Details) - USD ($)
$ in Thousands

3 Months Ended

Mar. 31, 2014

Dec. 31, 2013

Details Of Certain Accounts [Abstract]

Note receivable

^[1]

$ 20,000

Deferred dry dock expenses, net

21,441

$ 20,833

Deferred financing costs, net (Note 6)

23,176

24,297

Intangible assets with finite lives, net

640

622

Other

1,668

1,515

Total other assets, net

$ 66,925

$ 47,267

Note receivable, interest rate

6.00%

Note receivable, periodic principal payment

$ 10,000

[1]

Relates to the promissory note we received in connection with the sale of our Ingleside spoolbase in January 2014. The note bears 6% interest and is payable quarterly commencing April 1, 2014. A $10 million principal reduction in the note’s balance is required to be paid to us on each December 31 in 2014, 2015 and 2016.

Details Of Certain Accounts (Accrued Liabilities) (Details) - USD ($) $ in Thousands	Mar. 31, 2014	Dec. 31, 2013
Details Of Certain Accounts [Abstract]
Accrued payroll and related benefits	$ 32,241	$ 50,527
Current asset retirement obligations	1,201	2,024
Unearned revenue	9,658	19,608
Billing in excess of cost		1,677
Accrued interest	2,031	4,187
Derivative liability (Note 14)	2,629	2,651
Taxes payable excluding income tax payable	4,860	4,811
Pipelay assets sale deposit		5,000
Other	7,194	5,997
Total accrued liabilities	$ 59,814	$ 96,482

Statement Of Cash Flow Information (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Statement Of Cash Flow Information [Abstract]
Accruals for capital expenditures	$ 15.8	$ 23.3

Statement Of Cash Flow Information (Supplemental Cash Flow Information) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Statement Of Cash Flow Information [Abstract]
Interest paid, net of interest capitalized	$ 4,635	$ 20,164
Income taxes paid	$ 13,118	$ 4,521

Equity Investments (Details) $ in Thousands	3 Months Ended
Equity Investments (Details) $ in Thousands	Mar. 31, 2014 USD ($) entity ft	Dec. 31, 2013 USD ($)
Schedule of Equity Method Investments [Line Items]
Number of equity investments \| entity	2
Equity investments in unconsolidated affiliates	$ 155,730	$ 157,919
Deepwater Gateway, L.L.C. [Member]
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	50.00%
Equity investments in unconsolidated affiliates	$ 84,500	85,800
Capitalized interest	$ 1,300	1,300
Independence Hub, LLC [Member]
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	20.00%
Equity investments in unconsolidated affiliates	$ 71,200	72,100
Capitalized interest	$ 4,200	$ 4,300
Water depth \| ft	8,000

Equity Investments (Distributions From Equity Investments) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Schedule of Equity Method Investments [Line Items]
Distributions from equity investments	$ 2,800	$ 2,660
Deepwater Gateway, L.L.C. [Member]
Schedule of Equity Method Investments [Line Items]
Distributions from equity investments	2,000	1,500
Independence Hub, LLC [Member]
Schedule of Equity Method Investments [Line Items]
Distributions from equity investments	$ 800	$ 1,160

Long-Term Debt (Credit Agreement) (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended
	Jul. 31, 2013	Mar. 31, 2014	Sep. 30, 2013	Jun. 30, 2013
Debt Instrument [Line Items]
Commitment fee percentage		0.50%
Interest Rate Swaps [Member]
Debt Instrument [Line Items]
Notional amount of derivative			$ 148.1
Term Loan Maturing June 2018 [Member]
Debt Instrument [Line Items]
Original borrowing capacity				$ 300.0
Proceeds from unsecured lines of credit	$ 300.0
Basis point spread		2.50%
Debt instrument, periodic payment terms, balloon payment to be paid		$ 180.0
Term Loan Maturing June 2018 [Member] \| Interest Rate Swaps [Member]
Debt Instrument [Line Items]
Derivative, lower range of basis spread on variable rate			0.74%
Derivative, higher range of basis spread on variable rate			0.75%
Revolving Credit Facility Maturing June 2018 [Member]
Debt Instrument [Line Items]
Original borrowing capacity				600.0
Line of credit facility, maximum additional commitments				$ 200.0
Revolving credit facility available		582.1
Unsecured letters of credit		$ 17.9
Senior Unsecured Notes [Member]
Debt Instrument [Line Items]
Aggregate amount of debt payment	$ 275.0
Minimum [Member] \| London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Basis point spread		2.00%
Minimum [Member] \| Base Rate [Member]
Debt Instrument [Line Items]
Basis point spread		1.00%
Maximum [Member] \| London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Basis point spread		3.00%
Maximum [Member] \| Base Rate [Member]
Debt Instrument [Line Items]
Basis point spread		2.00%
Years Three Through Five [Member]
Debt Instrument [Line Items]
Debt instrument, periodic payment, principal, percentage		10.00%
Debt instrument, periodic payment, principal		$ 30.0
Years One And Two [Member]
Debt Instrument [Line Items]
Debt instrument, periodic payment, principal, percentage		5.00%
Debt instrument, periodic payment, principal		$ 15.0

Long-Term Debt (Convertible Senior Notes Dues 2032) (Details) - USD ($)

1 Months Ended

3 Months Ended

Mar. 31, 2012

Mar. 31, 2014

Mar. 31, 2013

Mar. 31, 2005

Debt Instrument [Line Items]

Long-term debt, carrying value

$ 586,263,000

Unamortized debt discount

^[1]

$ 25,119,000

Expected life used to estimate fair value

6 years

Convertible Senior Notes 2032 [Member]

Debt Instrument [Line Items]

Long-term debt, carrying value

$ 200,000,000

^[2]

Debt instrument interest rate

3.25%

Proceeds from issuance of debt

$ 195,000,000

Convertible Senior Notes, shares of common stock

39.9752

Base principal amount

$ 1,000

Per share conversion price

$ 25.02

Debt instrument, redemption price, percentage of principal amount redeemed

100.00%

Unamortized debt discount

35,400,000

$ 25,119,000

^[1],[2]

Effective interest rate

6.90%

Convertible Senior Notes 2025 [Member]

Debt Instrument [Line Items]

Debt instrument interest rate

3.25%

Debt instrument, repurchase amount

$ 142,200,000

[1]	The Convertible Senior Notes due 2032 will increase to their principal amount through accretion of non-cash interest charges through March 2018.
[2]	Beginning in March 2018, the holders of the Convertible Senior Notes due 2032 may require us to repurchase these notes or we may at our option elect to repurchase these notes. The notes will mature in March 2032.

Long-Term Debt (MARAD Debt) (Details) - MARAD Debt [Member]	3 Months Ended
	Mar. 31, 2014	Sep. 30, 2005
Debt Instrument [Line Items]
Guarantor obligations, liquidation proceeds, percentage	50.00%
Basis point spread	0.20%
Debt instrument interest rate		4.93%

Long-Term Debt (Former Credit Facility) (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended
	Feb. 28, 2013	Mar. 31, 2014	Mar. 31, 2013
Debt Instrument [Line Items]
Amortization of deferred financing costs		$ 1,218	$ 1,472
Former Credit Facility [Member]
Debt Instrument [Line Items]
Repayments of debt	$ 318,400
Former Term Loan [Member]
Debt Instrument [Line Items]
Amortization of deferred financing costs	$ 2,900

Long-Term Debt (Senior Unsecured Debt) (Details) - USD ($)	Mar. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2007
Debt Instrument [Line Items]
Long-term debt	$ 540,636,000	$ 545,776,000
Senior Unsecured Notes [Member]
Debt Instrument [Line Items]
Senior Unsecured Notes amount issued				$ 550,000,000
Debt instrument interest rate				9.50%
Long-term debt			$ 275,000,000

Long-Term Debt (Maturities Of Long-Term Debt) (Details) - USD ($)
$ in Thousands

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2012

Debt Instrument [Line Items]

$ 20,508

32,033

36,072

36,375

194,193

267,082

586,263

(20,508)

$ (20,376)

Long-term debt, less current maturities

565,755

Unamortized debt discount

^[1]

(25,119)

Long-term debt

540,636

$ 545,776

Term Loan Maturing June 2018 [Member]

Debt Instrument [Line Items]

15,000

26,250

30,000

30,000

187,500

288,750

(15,000)

Long-term debt, less current maturities

273,750

Long-term debt

273,750

MARAD Debt [Member]

Debt Instrument [Line Items]

5,508

5,783

6,072

6,375

6,693

67,082

97,513

(5,508)

Long-term debt, less current maturities

92,005

Long-term debt

92,005

Convertible Senior Notes 2032 [Member]

Debt Instrument [Line Items]

Over five years

^[2]

200,000

Total debt

200,000

^[2]

$ 200,000

Long-term debt, less current maturities

^[2]

200,000

Unamortized debt discount

(25,119)

^[1],[2]

$ (35,400)

Long-term debt

^[2]

$ 174,881

[1]	The Convertible Senior Notes due 2032 will increase to their principal amount through accretion of non-cash interest charges through March 2018.
[2]	Beginning in March 2018, the holders of the Convertible Senior Notes due 2032 may require us to repurchase these notes or we may at our option elect to repurchase these notes. The notes will mature in March 2032.

Long-Term Debt (Schedule of Deferred Financing Costs) (Details) - USD ($)
$ in Thousands

Mar. 31, 2014

Dec. 31, 2013

Term Loan Maturing June 2018 [Member]

Debt Instrument [Line Items]

Gross Carrying Amount

^[1]

$ 3,638

Accumulated Amortization

^[1]

(546)

(364)

Net

^[1]

3,092

3,274

Revolving Credit Facility Maturing June 2018 [Member]

Debt Instrument [Line Items]

Gross Carrying Amount

^[1]

13,275

Accumulated Amortization

^[1]

(1,991)

(1,327)

Net

^[1]

11,284

11,948

Convertible Senior Notes 2032 [Member]

Debt Instrument [Line Items]

Gross Carrying Amount

3,759

Accumulated Amortization

(1,302)

(1,148)

Net

2,457

2,611

MARAD Debt [Member]

Debt Instrument [Line Items]

Gross Carrying Amount

12,200

Accumulated Amortization

(5,857)

(5,736)

Net

6,343

6,464

Debt [Member]

Debt Instrument [Line Items]

Gross Carrying Amount

32,872

Accumulated Amortization

(9,696)

(8,575)

Net

$ 23,176

$ 24,297

[1]	Relates to amounts allocated to the existing Term Loan and Revolving Credit Facility, which became effective in June 2013.

Long-Term Debt (Interest Expense And Capitalized Interest) (Details) - USD ($)
$ in Thousands

3 Months Ended

Mar. 31, 2014

Mar. 31, 2013

Debt Instrument [Line Items]

Interest expense

^[1]

$ 8,362

$ 12,578

Interest income

(717)

(316)

Capitalized interest

(3,162)

(1,939)

Net interest expense

$ 4,483

10,323

Energy Resource Technology GOM, Inc [Member]

Debt Instrument [Line Items]

Interest expense

$ 2,800

[1]	Interest expense of $2.8 million for the three-month period ended March 31, 2013 was allocated to ERT and is included in discontinued operations. Following the sale of ERT in February 2013, we ceased allocating interest expense to ERT, which then constituted a discontinued operation.

Income Taxes (Narrative) (Details)	3 Months Ended
Income Taxes (Narrative) (Details)	Mar. 31, 2014	Mar. 31, 2013
Income Taxes [Abstract]
Effective tax rate	27.40%	24.90%
Statutory rate	35.00%	35.00%

Income Taxes (Schedule of Income Tax Rate Reconciliation) (Details)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Effective Income Tax Rate, Continuing Operations, Tax Rate Reconciliation [Abstract]
Statutory rate	35.00%	35.00%
Foreign provision	(8.50%)	(10.70%)
Other	0.90%	0.60%
Effective tax rate	27.40%	24.90%

Accumulated Other Comprehensive Income (Loss) ("OCI") (Components Of Accumulated Other Comprehensive Loss) (Details) - USD ($)
$ in Thousands

Mar. 31, 2014

Dec. 31, 2013

Accumulated Other Comphrensive Income (Loss) ("OCI") [Abstract]

Cumulative foreign currency translation adjustment

$ (9,350)

$ (10,697)

Unrealized loss on hedges, net

^[1]

(6,928)

(9,991)

Accumulated other comprehensive loss

(16,278)

(20,688)

Deferred tax asset, other comprehensive loss

$ 3,700

$ 5,400

[1]

Amounts are related to foreign currency hedges for the Grand Canyon, the Grand Canyon II and the Grand Canyon III charters as well as interest rate swap contracts for the Term Loan, and are net of deferred income taxes totaling $3.7 million and $5.4 million as of March 31, 2014 and December 31, 2013, respectively (Notes 6 and 14).

- Definition

Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge.

+ References + Details

Earnings Per Share (Narrative) (Details) - Convertible Senior Notes 2032 [Member] - $ / shares	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Debt Instrument [Line Items]
Per share conversion price	$ 25.02	$ 25.02
Convertible debt stock price trigger	$ 32.53	$ 32.53
Incremental common shares attributable to dilutive effect of conversion of debt securities	0	0

Earnings Per Share (Computations Of Basic And Diluted EPS) (Details) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Earnings Per Share [Abstract]
Net income applicable to Helix	$ 53,719	$ 1,615
Income from discontinued operations		(1,058)
Net income from continuing operations	53,719	557
Less: Undistributed net income allocable to participating securities	(286)	(5)
Net income applicable to common shareholders - continuing operations	$ 53,433	552
Less: Undistributed net income from discontinued operations allocable to participating securities		(8)
Net income applicable to common shareholders - discontinued operations		$ 1,050
Weighted average number of shares outstanding - basic	105,126	105,032
Share-based awards other than participating securities, Shares	249	133
Undistributed earnings reallocated to participating securities, value	$ 1
Net income applicable to Helix - Diluted	$ 53,434	$ 552
Weighted average number of shares outstanding, diluted, total	105,375	105,165
Income from discontinued operations, net of tax		$ 1,058

Employee Benefit Plans (Narrative) (Details) $ in Millions	3 Months Ended		12 Months Ended
Employee Benefit Plans (Narrative) (Details) $ in Millions	Mar. 31, 2014 USD ($) item shares	Mar. 31, 2013 USD ($) shares	Dec. 31, 2013 USD ($)	Dec. 31, 2012	Dec. 31, 2011
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of stock plans \| item	2
Shares available for grant \| shares	6,500,000
Stock option grants \| shares	0	0
Compensation cost related to restricted shares	$ 1.7	$ 3.4
Deferred compensation arrangement, award vesting period	3 years		3 years	3 years	5 years
Deferred compensation arrangement, cash awards granted, amount	$ 8.9		$ 8.4
Deferred compensation arrangement, compensation expense	1.7	2.5
Deferred compensation cash-based arrangement, liability	$ 7.4		14.8
Percentage of share of non vested stock considered as call option	85.00%
Percentage of share of non-vested stock considered as put-option	15.00%
Segment, Discontinued Operations [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation cost related to restricted shares		1.3
Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Deferred compensation arrangement, award vesting period	3 years
E S P P [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized for issuance \| shares	1,500,000
Shares available for grant \| shares	1,300,000
Allocated share-based compensation expense	$ 0.2	0.2
Executive Officer [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Deferred compensation arrangement, compensation expense	0.9	$ 1.6
Deferred compensation cash-based arrangement, liability	$ 5.3		$ 11.1
Maximum Shares As Incentive Options Member
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for grant \| shares	2,000,000

Employee Benefit Plans (Restricted Shares Granted) (Details) - $ / shares

3 Months Ended

12 Months Ended

Mar. 31, 2014

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2011

Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]

Vesting Period

3 years

5 years

Performance Shares [Member]

Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]

Vesting Period

3 years

Grant Share Amount A [Member]

Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]

Restricted Share Grants, Date of Grant

^[1]

Jan. 02, 2014

Restricted Share Grants, Shares

^[1]

73,609

Restricted Share Grants, Market Value Per Share

^[1]

$ 23.18

Restricted Share Grants, Vesting Percentage

^[1]

33.00%

Restricted Share Grants, Vesting Period, in Years

^[1]

3 years

Grant Share Amount B [Member]

Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]

Restricted Share Grants, Date of Grant

Jan. 02, 2014

Restricted Share Grants, Shares

^[2]

73,609

Restricted Share Grants, Market Value Per Share

^[2]

$ 26.79

Restricted Share Grants, Vesting Percentage

^[2]

100.00%

Restricted Stock, Vesting Date

^[2]

Jan. 01, 2017

Grant Share Amount C [Member]

Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]

Restricted Share Grants, Date of Grant

Jan. 02, 2014

Restricted Share Grants, Shares

^[3]

2,724

Restricted Share Grants, Market Value Per Share

^[3]

$ 23.18

Restricted Share Grants, Vesting Percentage

^[3]

100.00%

Restricted Stock, Vesting Date

^[3]

Jan. 01, 2016

Maximum [Member] | Grant Share Amount B [Member]

Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]

Award Percentage

200.00%

Minimum [Member] | Grant Share Amount B [Member]

Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]

Award Percentage

0.00%

[1]	Reflects the grant of restricted shares to our executive officers.
[2]	Reflects the grant of performance share units (“PSUs”) to our executive officers. The estimated fair value of the PSUs on grant date was determined using a Monte Carlo simulation model. The PSUs provide for an award based on the performance of our common stock over a three-year period with the maximum award being 200% of the original awarded PSUs and the minimum amount being zero. The vested PSUs will be settled in an equivalent number of shares of our common stock unless the Compensation Committee of our Board of Directors elects to pay in cash.
[3]	Reflects the grant of restricted shares to certain members of our Board of Directors who have made an election to take their quarterly fees in stock in lieu of cash.

Business Segment Information (Narrative) (Details)	3 Months Ended
Business Segment Information (Narrative) (Details)	Mar. 31, 2014 segment property
Segment Reporting Information [Line Items]
Number of reportable segments \| segment	4
Monohull Vessels [Member]
Segment Reporting Information [Line Items]
Number of vessels under construction	2
Well Intervention [Member]
Segment Reporting Information [Line Items]
Number of vessels under construction	2
Robotics [Member]
Segment Reporting Information [Line Items]
Number of chartered vessels	5

Business Segment Information (Summary Of Financial Data By Segment) (Details) - USD ($)
$ in Thousands

3 Months Ended

Mar. 31, 2014

Mar. 31, 2013

Segment Reporting Information [Line Items]

Revenues

$ 253,572

$ 197,429

Income (loss) from operations

66,948

15,238

Equity in earnings of investments

708

610

Gain on sale of assets

11,496

Intercompany Elimination [Member]

Segment Reporting Information [Line Items]

Revenues

(17,516)

(21,018)

Income (loss) from operations

(1,198)

(1,720)

Well Intervention [Member] | Operating Segments [Member]

Segment Reporting Information [Line Items]

Revenues

159,700

106,332

Income (loss) from operations

48,733

36,450

Well Intervention [Member] | Intercompany Elimination [Member]

Segment Reporting Information [Line Items]

Revenues

(5,461)

(3,829)

Robotics [Member] | Operating Segments [Member]

Segment Reporting Information [Line Items]

Revenues

87,890

64,196

Income (loss) from operations

11,219

(697)

Robotics [Member] | Intercompany Elimination [Member]

Segment Reporting Information [Line Items]

Revenues

(12,055)

(12,199)

Subsea Construction [Member]

Segment Reporting Information [Line Items]

Gain on sale of assets

10,500

Subsea Construction [Member] | Operating Segments [Member]

Segment Reporting Information [Line Items]

Revenues

358

27,526

Income (loss) from operations

^[1]

10,685

3,551

Subsea Construction [Member] | Intercompany Elimination [Member]

Segment Reporting Information [Line Items]

Revenues

(317)

Production Facilities [Member] | Operating Segments [Member]

Segment Reporting Information [Line Items]

Revenues

23,140

20,393

Income (loss) from operations

11,384

11,185

Production Facilities [Member] | Intercompany Elimination [Member]

Segment Reporting Information [Line Items]

Revenues

(4,673)

Corporate and Other [Member] | Operating Segments [Member]

Segment Reporting Information [Line Items]

Income (loss) from operations

$ (13,875)

$ (33,531)

[1]	Amount in 2014 includes the $10.5 million gain on the sale in January 2014 of our Ingleside spoolbase.

Business Segment Information (Summary Of Intercompany Segment Revenues) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Segment Reporting Information [Line Items]
Net revenues	$ (253,572)	$ (197,429)
Intercompany Elimination [Member]
Segment Reporting Information [Line Items]
Net revenues	17,516	21,018
Well Intervention [Member] \| Intercompany Elimination [Member]
Segment Reporting Information [Line Items]
Net revenues	5,461	3,829
Robotics [Member] \| Intercompany Elimination [Member]
Segment Reporting Information [Line Items]
Net revenues	$ 12,055	12,199
Subsea Construction [Member] \| Intercompany Elimination [Member]
Segment Reporting Information [Line Items]
Net revenues		317
Production Facilities [Member] \| Intercompany Elimination [Member]
Segment Reporting Information [Line Items]
Net revenues		$ 4,673

Business Segment Information (Intercompany Segment Gross Profit (Loss)) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Segment Reporting Information [Line Items]
Gross profit	$ (75,846)	$ (52,567)
Intercompany Elimination [Member]
Segment Reporting Information [Line Items]
Gross profit	1,198	1,720
Well Intervention [Member] \| Intercompany Elimination [Member]
Segment Reporting Information [Line Items]
Gross profit	(62)	(19)
Robotics [Member] \| Intercompany Elimination [Member]
Segment Reporting Information [Line Items]
Gross profit	1,304	1,625
Subsea Construction [Member] \| Intercompany Elimination [Member]
Segment Reporting Information [Line Items]
Gross profit		158
Production Facilities [Member] \| Intercompany Elimination [Member]
Segment Reporting Information [Line Items]
Gross profit	$ (44)	$ (44)

Business Segment Information (Intercompany Segment Assets) (Details) - USD ($) $ in Thousands	Mar. 31, 2014	Dec. 31, 2013
Segment Reporting Information [Line Items]
Assets	$ 2,559,995	$ 2,544,280
Well Intervention [Member]
Segment Reporting Information [Line Items]
Assets	1,308,535	1,245,229
Robotics [Member]
Segment Reporting Information [Line Items]
Assets	289,806	282,373
Subsea Construction [Member]
Segment Reporting Information [Line Items]
Assets	2,614	38,054
Production Facilities [Member]
Segment Reporting Information [Line Items]
Assets	482,184	495,829
Corporate and Other [Member]
Segment Reporting Information [Line Items]
Assets	$ 476,856	$ 482,795

Commitments And Contingencies And Other Matters (Narrative) (Details) $ in Thousands	1 Months Ended			3 Months Ended	25 Months Ended
	Sep. 30, 2013 USD ($)	Aug. 31, 2012 USD ($)	Mar. 31, 2012 USD ($)	Mar. 31, 2014 USD ($) property	Mar. 31, 2014 USD ($)	Dec. 31, 2013 USD ($)
Commitments And Contingencies [Line Items]
Property and equipment				$ 1,966,500	$ 1,966,500	$ 1,963,706
Q7000 [Member]
Commitments And Contingencies [Line Items]
Long-term purchase commitment	$ 346,000
Property and equipment				80,800	80,800
Helix 534 [Member]
Commitments And Contingencies [Line Items]
Property and equipment				219,400	219,400
Payments to acquire property, plant, and equipment		$ 85,000
Q5000 [Member]
Commitments And Contingencies [Line Items]
Long-term purchase commitment			$ 386,500
Property and equipment				$ 213,700	213,700
Payments to acquire property, plant, and equipment					173,800
Monohull Vessels [Member]
Commitments And Contingencies [Line Items]
Number of vessels under construction \| property				2
Topside Equipment [Member]
Commitments And Contingencies [Line Items]
Property and equipment				$ 100	$ 100
Contract Signing [Member] \| Q7000 [Member]
Commitments And Contingencies [Line Items]
Payments to acquire property, plant, and equipment	$ 69,200
Long-term purchase commitment percentage	20.00%
Vessel Delivery [Member] \| Q7000 [Member]
Commitments And Contingencies [Line Items]
Long-term purchase commitment percentage	80.00%

Fair Value Measurements (Assets And Liabilities Measured At Fair Value On A Recurring Basis) (Details)
$ in Thousands

Mar. 31, 2014

USD ($)

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Total net liability

$ 653,888

Level 1 [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Total net liability

536,210

Level 2 [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Total net liability

117,678

^[1]

Level 3 [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Total net liability

Foreign Currency Forwards [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Assets

Foreign Currency Forwards [Member] | Level 1 [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Assets

Foreign Currency Forwards [Member] | Level 2 [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Assets

^[1]

Foreign Currency Forwards [Member] | Level 3 [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Assets

Interest Rate Swaps [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Assets

549

Liabilities

789

Interest Rate Swaps [Member] | Level 1 [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Assets

Liabilities

Interest Rate Swaps [Member] | Level 2 [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Assets

549

^[1]

Liabilities

789

^[1]

Interest Rate Swaps [Member] | Level 3 [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Assets

Liabilities

Fair Value Of Long Term Debt [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Liabilities

643,231

^[2]

Fair Value Of Long Term Debt [Member] | Level 1 [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Liabilities

536,210

^[2]

Fair Value Of Long Term Debt [Member] | Level 2 [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Liabilities

107,021

^[1],[2]

Fair Value Of Long Term Debt [Member] | Level 3 [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Liabilities

^[2]

Foreign Currency Forwards [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Liabilities

10,418

Foreign Currency Forwards [Member] | Level 1 [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Liabilities

Foreign Currency Forwards [Member] | Level 2 [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Liabilities

10,418

^[1]

Foreign Currency Forwards [Member] | Level 3 [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Liabilities

[1]

Unless otherwise indicated, the fair value of our Level 2 derivative instruments reflects our best estimate and is based upon exchange or over-the-counter quotations whenever they are available. Quoted valuations may not be available due to location differences or terms that extend beyond the period for which quotations are available. Where quotes are not available, we utilize other valuation techniques or models to estimate market values. These modeling techniques require us to make estimations of future prices, price correlation and market volatility and liquidity based on market data. Our actual results may differ from our estimates, and these differences could be positive or negative.

[2]

See Note 6 for additional information regarding our long-term debt. The fair value of our long-term debt is as follows (in thousands): March 31, 2014Carrying ValueFair Value (b)Term Loan (matures June 2018) $ 288,750$ 288,7502032 Notes (mature March 2032) (a) 200,000 247,460MARAD Debt (matures February 2027) 97,513 107,021Total debt$ 586,263$ 643,231(a) Carrying value excludes the related unamortized debt discount of $25.1 million at March 31, 2014.(b) The estimated fair value of all debt, other than the MARAD Debt, was determined using Level 1 inputs using the market approach. The fair value of the MARAD Debt was determined using a third party evaluation of the remaining average life and outstanding principal balance of the MARAD indebtedness as compared to other governmental obligations in the marketplace with similar terms. The fair value of the MARAD Debt was estimated using Level 2 fair value inputs using the market approach.

Fair Value Measurements (Fair Value Of Long Term Debt) (Details)
$ in Thousands

Mar. 31, 2014

USD ($)

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Long-term debt, carrying value

$ 586,263

Unamortized debt discount

25,119

^[1]

Term Loan Maturing June 2018 [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Long-term debt, carrying value

288,750

Long-term debt, Fair Value

288,750

^[2]

Convertible Senior Notes (Matures March 2032) [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Long-term debt, carrying value

200,000

^[3]

Long-term debt, Fair Value

247,460

^[2],[3]

MARAD Debt [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Long-term debt, carrying value

97,513

Long-term debt, Fair Value

107,021

^[2]

Loan Notes [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Long-term debt, carrying value

586,263

Long-term debt, Fair Value

$ 643,231

^[2]

[1]	The Convertible Senior Notes due 2032 will increase to their principal amount through accretion of non-cash interest charges through March 2018.
[2]	The estimated fair value of all debt, other than the MARAD Debt, was determined using Level 1 inputs using the market approach. The fair value of the MARAD Debt was determined using a third party evaluation of the remaining average life and outstanding principal balance of the MARAD indebtedness as compared to other governmental obligations in the marketplace with similar terms. The fair value of the MARAD Debt was estimated using Level 2 fair value inputs using the market approach.
[3]	Carrying value excludes the related unamortized debt discount of $25.1 million at March 31, 2014.

Derivative Instruments And Hedging Activities (Narrative) (Details) kr in Millions, $ in Millions	1 Months Ended	3 Months Ended
	Feb. 28, 2013 USD ($)	Mar. 31, 2014 USD ($)	Sep. 30, 2013 USD ($)	Feb. 28, 2013 NOK (kr)	Feb. 28, 2013 USD ($)	Jan. 31, 2013 NOK (kr)	Jan. 31, 2013 USD ($)
Derivative [Line Items]
Future amount to be re-classified to earnings		$ 1.7
Oil And Natural Gas Commodity Contracts [Member]
Derivative [Line Items]
Derivative cash settlement	$ 22.5
Interest Rate Swaps [Member]
Derivative [Line Items]
Derivative cash settlement	$ 0.6
Notional amount of derivative			$ 148.1
Grand Canyon I I I [Member]
Derivative [Line Items]
Notional amount of derivative				kr 595.0	$ 98.8
Grand Canyon I I [Member]
Derivative [Line Items]
Notional amount of derivative				kr 594.7	$ 100.4
Grand Canyon [Member]
Derivative [Line Items]
Notional amount of derivative						kr 591.3	$ 104.6

Derivative Instruments And Hedging Activities (Derivatives Not Designated As Hedging Instruments) (Details) - USD ($) $ in Thousands	Mar. 31, 2014	Dec. 31, 2013
Derivative [Line Items]
Asset derivatives not designated as hedging instruments	$ 1	$ 69
Other Current Assets [Member] \| Foreign Exchange Contracts [Member]
Derivative [Line Items]
Asset derivatives not designated as hedging instruments	$ 1	$ 69

Derivative Instruments And Hedging Activities (Derivatives Designated As Hedging Instruments) (Details) - USD ($) $ in Thousands	Mar. 31, 2014	Dec. 31, 2013
Derivatives, Fair Value [Line Items]
Asset derivatives designated as hedging instruments	$ 549	$ 446
Liability derivatives designated as hedging instruments	11,207	15,817
Other Assets, Net [Member] \| Interest Rate Swaps [Member]
Derivatives, Fair Value [Line Items]
Asset derivatives designated as hedging instruments	549	446
Accrued Liabilities [Member] \| Interest Rate Swaps [Member]
Derivatives, Fair Value [Line Items]
Liability derivatives designated as hedging instruments	789	746
Accrued Liabilities [Member] \| Foreign Exchange Contracts [Member]
Derivatives, Fair Value [Line Items]
Liability derivatives designated as hedging instruments	1,840	1,905
Other Noncurrent Liabilities [Member] \| Foreign Exchange Contracts [Member]
Derivatives, Fair Value [Line Items]
Liability derivatives designated as hedging instruments	$ 8,578	$ 13,166

Derivative Instruments And Hedging Activities (Impact Of Derivative Instruments On Accumulated Comprehensive Income (Loss)) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in OCI on Derivatives (Effective Portion)	$ 3,063	$ (7,238)
Foreign Exchange Contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in OCI on Derivatives (Effective Portion)	3,024	$ (7,238)
Interest Rate Swaps [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in OCI on Derivatives (Effective Portion)	$ 39

Derivative Instruments And Hedging Activities (Gain (Loss) Reclassified From Accumulated OCI Into Income) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Reclassified from Accumulated OCI into Earnings (Effective Portion)	$ (658)	$ (150)
Interest Rate Swaps [Member] \| Net Interest Expense [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Reclassified from Accumulated OCI into Earnings (Effective Portion)	(214)
Foreign Exchange Contracts [Member] \| Cost of Sales [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Reclassified from Accumulated OCI into Earnings (Effective Portion)	$ (444)	$ (150)

Derivative Instruments And Hedging Activities (Impact Of Non Designated Derivative Instruments On Income Statement) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in Earnings on Derivatives	$ 7	$ (15,443)
Oil And Natural Gas Commodity Contracts [Member] \| Non Hedge Loss On Commodity Derivative Contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in Earnings on Derivatives		(14,113)
Interest Rate Swaps [Member] \| Other Expense [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in Earnings on Derivatives		(86)
Foreign Exchange Contracts [Member] \| Other Expense [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in Earnings on Derivatives	$ 7	$ (1,244)