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Document And Entity Information - shares	3 Months Ended
Document And Entity Information - shares	Mar. 31, 2015	Apr. 17, 2015
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2015
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2015
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		105,913,805
Entity Current Reporting Status	Yes
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents	$ 415,302	$ 476,492
Accounts receivable:
Trade, net of allowance for uncollectible accounts of $5,160 and $4,735, respectively	108,377	104,724
Unbilled revenue	39,324	28,542
Costs in excess of billing	776	2,034
Current deferred tax assets	23,477	31,180
Other current assets	33,016	51,301
Total current assets	620,272	694,273
Property and equipment	2,287,411	2,241,444
Less accumulated depreciation	(527,033)	(506,060)
Property and equipment, net	1,760,378	1,735,384
Other assets:
Equity investments	148,147	149,623
Goodwill	61,336	62,146
Other assets, net	58,191	59,272
Total assets	2,648,324	2,700,698
Current liabilities:
Accounts payable	80,106	83,403
Accrued liabilities	70,774	104,923
Income tax payable	3,333	9,143
Current maturities of long-term debt	32,033	28,144
Total current liabilities	186,246	225,613
Long-term debt	514,265	523,228
Deferred tax liabilities	247,050	260,275
Other non-current liabilities	45,753	38,108
Total liabilities	993,314	1,047,224
Commitments and contingencies
Shareholders’ equity:
Common stock, no par, 240,000 shares authorized, 105,904 and 105,586 shares issued, respectively	936,735	934,447
Retained earnings	800,921	781,279
Accumulated other comprehensive loss	(82,646)	(62,252)
Total shareholders’ equity	1,655,010	1,653,474
Total liabilities and shareholders’ equity	$ 2,648,324	$ 2,700,698

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2015	Dec. 31, 2014
Current assets:
Allowance for uncollectible accounts	$ 5,160	$ 4,735
Shareholders’ equity:
Common stock, shares authorized	240,000,000	240,000,000
Common stock, shares issued	105,904,000	105,586,000

Condensed Consolidated Statements Of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Income Statement [Abstract]
Net revenues	$ 189,641	$ 253,572
Cost of sales	154,694	177,726
Gross profit	34,947	75,846
Gain on disposition of assets, net	0	11,496
Selling, general and administrative expenses	(12,619)	(20,394)
Income from operations	22,328	66,948
Equity in earnings of investments	21	708
Net interest expense	(4,070)	(4,483)
Other expense, net	(1,156)	(810)
Other income – oil and gas	2,926	12,276
Income before income taxes	20,049	74,639
Income tax provision	407	20,417
Net income, including noncontrolling interests	19,642	54,222
Less net income applicable to noncontrolling interests	0	(503)
Net income applicable to common shareholders	$ 19,642	$ 53,719
Earnings per share of common stock (in dollars per shares)
Basic	$ 0.19	$ 0.51
Diluted	$ 0.19	$ 0.51
Weighted average common shares outstanding (in shares)
Basic	105,290	105,126
Diluted	105,290	105,375

Condensed Consolidated Statements Of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Statement of Comprehensive Income [Abstract]
Net income, including noncontrolling interests	$ 19,642	$ 54,222
Other comprehensive income (loss), net of tax:
Unrealized gain (loss) on hedges arising during the period	(11,711)	4,055
Reclassification adjustments for loss included in net income	1,673	658
Income taxes on unrealized (gain) loss on hedges	3,513	(1,650)
Unrealized gain (loss) on hedges, net of tax	(6,525)	3,063
Foreign currency translation gain (loss)	(13,869)	1,347
Other comprehensive income (loss), net of tax	(20,394)	4,410
Comprehensive income (loss)	(752)	58,632
Less comprehensive income applicable to noncontrolling interests	0	(503)
Comprehensive income (loss) applicable to common shareholders	$ (752)	$ 58,129

Condensed Consolidated Statements Of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Cash flows from operating activities:
Net income, including noncontrolling interests	$ 19,642	$ 54,222
Adjustments to reconcile net income, including noncontrolling interests, to net cash provided by (used in) operating activities:
Depreciation and amortization	26,089	24,726
Amortization of deferred financing costs	1,218	1,218
Stock-based compensation expense	1,754	1,811
Amortization of debt discount	1,464	1,397
Deferred income taxes	(1,114)	33,407
Excess tax from stock-based compensation	(260)	(619)
Gain on disposition of assets, net	0	(11,496)
Unrealized loss and ineffectiveness on derivative contracts, net	2,181	68
Changes in operating assets and liabilities:
Accounts receivable, net	(14,917)	(5,527)
Other current assets	17,843	(7,122)
Income tax payable	(5,322)	(26,106)
Accounts payable and accrued liabilities	(48,718)	(14,385)
Other noncurrent, net	(2,403)	(2,757)
Net cash provided by (used in) operating activities	(2,543)	48,837
Cash flows from investing activities:
Capital expenditures	(52,524)	(37,991)
Distributions from equity investments, net	1,379	2,092
Proceeds from sale of assets	0	11,074
Acquisition of noncontrolling interests	0	(20,085)
Net cash used in investing activities	(51,145)	(44,910)
Cash flows from financing activities:
Repayment of term loans	(3,750)	(3,750)
Repayment of MARAD borrowings	(2,788)	(2,655)
Distributions to noncontrolling interests	0	(1,018)
Repurchases of common stock	(1,026)	(5,449)
Excess tax from stock-based compensation	260	619
Proceeds from issuance of ESPP shares	1,299	942
Net cash used in financing activities	(6,005)	(11,311)
Effect of exchange rate changes on cash and cash equivalents	(1,497)	(737)
Net decrease in cash and cash equivalents	(61,190)	(8,121)
Cash and cash equivalents:
Balance, beginning of year	476,492	478,200
Balance, end of period	$ 415,302	$ 470,079

Basis Of Presentation And New Accounting Standards	3 Months Ended
Basis Of Presentation And New Accounting Standards	Mar. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis Of Presentation And New Accounting Standards	Basis of Presentation and New 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 2014 Annual Report on Form 10-K (“2014 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, 2015 are not necessarily indicative of the results that may be expected for the year ending December 31, 2015. Our balance sheet as of December 31, 2014 included herein has been derived from the audited balance sheet as of December 31, 2014 included in our 2014 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 2014 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. In May 2014, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, “Revenue from Contracts with Customers (Topic 606).” This ASU provides a single five-step approach to account for revenue arising from contracts with customers. The ASU requires an entity to recognize revenue in a way that depicts the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The new revenue standard is currently effective prospectively for annual reporting periods beginning after December 15, 2016, including interim periods. Early adoption is not permitted. The guidance permits companies to either apply the requirements retrospectively to all prior periods presented, or apply the requirements in the year of adoption through a cumulative adjustment. We are currently evaluating which transition approach to use and the potential impact the adoption of this new standard may have on our consolidated financial statements. In April 2015, the FASB issued ASU No. 2015-03, “Simplifying the Presentation of Debt Issuance Costs.” This ASU requires that debt issuance costs related to a recognized debt liability be reported on the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. This guidance is effective retrospectively beginning in the first quarter of fiscal 2017 and early adoption is permitted. We are currently evaluating the impact of this new standard on our consolidated financial statements.

Company Overview	3 Months Ended
Company Overview	Mar. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Company Overview	Company Overview We are an international offshore energy services 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, and intend to increase our operations in offshore Brazil. Our “life of field” services are segregated into three reportable business segments: Well Intervention, Robotics and Production Facilities (Note 11). Our Well Intervention segment includes our vessels and equipment used to perform 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. Our Robotics segment includes remotely operated vehicles (“ROVs”), trenchers and ROVDrills designed to complement offshore construction and well intervention services, and will operate five chartered ROV and trencher support vessels following the delivery of the Grand Canyon II in late April 2015. Our Production Facilities segment includes the Helix Producer I vessel (“HP I”) as well as our equity investments in Deepwater Gateway, L.L.C. (“Deepwater Gateway”) and Independence Hub, LLC (“Independence Hub”) (Note 5). The Production Facilities segment also includes the Helix Fast Response System (“HFRS”), which provides certain operators access to our Q4000 and HP I vessels in the event of a well control incident in the Gulf of Mexico.

Details Of Certain Accounts

3 Months Ended

Mar. 31, 2015

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Details Of Certain Accounts

Details of Certain Accounts

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



	March 31, 2015		December 31, 2014

Note receivable ⁽¹⁾	$	10,000	$	17,500
Other receivables	613		423
Prepaid insurance	3,523		6,582
Other prepaids	8,631		15,541
Spare parts inventory	2,112		1,857
Value added tax receivable	8,046		9,326
Other	91		72
Total other current assets	$	33,016	$	51,301



	March 31, 2015		December 31, 2014

Note receivable ⁽¹⁾	$	10,000	$	10,000
Deferred dry dock expenses, net	11,972		11,631
Deferred financing costs, net (Note 6)	22,278		23,399
Intangible assets with finite lives, net	710		696
Charter fee deposit (Note 12)	12,544		12,544
Other	687		1,002
Total other assets, net	$	58,191	$	59,272


(1)	Relates to the remaining balance of the promissory note we received in connection with the sale of our Ingleside spoolbase in January 2014. Interest on the note is payable quarterly at a rate of 6% per annum. Under the terms of the note, the remaining $20 million principal balance is required to be paid with a $10 million payment on December 31 of 2015 and 2016, respectively.

Accrued liabilities consist of the following (in thousands):



	March 31, 2015		December 31, 2014

Accrued payroll and related benefits	$	28,561	$	61,246
Current asset retirement obligations	554		575
Unearned revenue	7,653		11,461
Accrued interest	1,952		4,221
Derivative liability (Note 14)	17,491		13,222
Taxes payable excluding income tax payable	6,263		6,236
Other	8,300		7,962
Total accrued liabilities	$	70,774	$	104,923

Statement Of Cash Flow Information

3 Months Ended

Mar. 31, 2015

Supplemental Cash Flow Information [Abstract]

Statement Of Cash Flow Information

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,
	2015		2014

Interest paid, net of interest capitalized	$	4,124	$	4,635
Income taxes paid	$	7,181	$	13,118

Our non-cash investing activities include accruals for property and equipment capital expenditures. These non-cash investing accruals totaled $17.5 million and $14.1 million as of March 31, 2015 and December 31, 2014, respectively. Additionally, our investing activities for the three-month period ended March 31, 2014 included a $30 million non-cash transaction related to the promissory note we received in connection with the sale of our Ingleside spoolbase in January 2014 (Note 3).

Equity Investments

3 Months Ended

Mar. 31, 2015

Equity Method Investments and Joint Ventures [Abstract]

Equity Investments

As of March 31, 2015, 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 $80.1 million and $80.9 million as of March 31, 2015 and December 31, 2014, respectively (including net capitalized interest of $1.2 million at March 31, 2015 and December 31, 2014, respectively).

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 $68.0 million and $68.8 million as of March 31, 2015 and December 31, 2014, respectively (including capitalized interest of $3.9 million at March 31, 2015 and December 31, 2014, respectively).

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



	Three Months Ended March 31,
	2015		2014

Deepwater Gateway	$	1,000	$	2,000
Independence Hub	400		800
Total	$	1,400	$	2,800

Long-Term Debt

3 Months Ended

Mar. 31, 2015

Debt Disclosure [Abstract]

Long-Term Debt

Scheduled maturities of our long-term debt outstanding as of March 31, 2015 are as follows (in thousands):



	Term Loan			MARAD Debt			2032 Notes ⁽¹⁾			Total

Less than one year	$	26,250		$	5,783		$	—		$	32,033
One to two years	30,000			6,072			—			36,072
Two to three years	30,000			6,375			—			36,375
Three to four years	187,500			6,693			—			194,193
Four to five years	—			7,027			—			7,027
Over five years	—			60,054			200,000			260,054
Total debt	273,750			92,004			200,000			565,754
Current maturities	(26,250		)	(5,783		)	—			(32,033		)
Long-term debt, less current maturities	247,500			86,221			200,000			533,721
Unamortized debt discount ⁽²⁾	—			—			(19,456		)	(19,456		)
Long-term debt	$	247,500		$	86,221		$	180,544		$	514,265


(1)	Beginning in March 2018, the holders of our 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)	Our Convertible Senior Notes due 2032 will increase to their face 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 borrowed $300 million under the Credit Agreement’s term loan (the “Term Loan”) and, subject to the terms of the Credit Agreement, may borrow additional amounts (the “Revolving Loans”) and/or obtain letters of credit under a revolving credit facility (the “Revolving Credit Facility”) up to an outstanding amount of $600 million. Subject to lender participation, 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. At March 31, 2015, our availability under the Revolving Credit Facility totaled $583.7 million, net of $16.3 million of letters of credit issued.

The Term Loan and the Revolving Loans (together, the “Loans”) bear interest, at our election, in relation to either 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 Loans or portions thereof bearing interest at the base rate 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 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 currently also pay a fixed commitment fee of 0.375% on the unused portion of our Revolving Credit Facility. The Term Loan currently bears interest at the one-month LIBOR rate plus 2.25%. 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 are between 74 and 75 basis points.

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 have designated five of our foreign subsidiaries, and may designate 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 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 wholly owned 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 million in aggregate principal amount of Convertible Senior Notes due 2032 (the “2032 Notes”). 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. We have the right and the intention to settle any such future conversions in cash.

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 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. As of March 31, 2015, the carrying amount of the equity component of the 2032 Notes was $22.5 million.

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.

Nordea Credit Agreement

In September 2014, a wholly owned subsidiary incorporated in Luxembourg, Helix Q5000 Holdings S.à r.l. (“Q5000 Holdings”), entered into a credit agreement (the “Nordea Credit Agreement”) with a syndicated bank lending group for a term loan (the “Nordea Term Loan”) in an amount of up to $250 million. The Nordea Term Loan will be funded at or near the time of the delivery of the Q5000, which is currently estimated in the second quarter of 2015. The parent company of Q5000 Holdings, Helix Vessel Finance S.à r.l., also a wholly owned Luxembourg subsidiary, has guaranteed the Nordea Term Loan. The loan will be secured by the Q5000 and its charter earnings as well as by a pledge of the shares of Q5000 Holdings. This indebtedness is nonrecourse to Helix.

The Nordea Term Loan will bear interest at a LIBOR rate plus a margin of 2.5%, with an undrawn fee of 0.875%. The Nordea Term Loan matures five years after funding and is repayable in scheduled principal installments of $8.9 million, payable quarterly, with a balloon payment of $80.4 million at maturity. Installment amounts are subject to adjustment for any prepayments on this debt. Q5000 Holdings may elect to prepay amounts outstanding under the Nordea Term Loan without premium or penalty, but may not reborrow any amounts prepaid. In certain circumstances, Q5000 Holdings will be required to prepay the loan.

The Nordea Credit Agreement and the other related loan documents include terms and conditions, including covenants that are considered customary for this type of transaction. The covenants include restrictions on Q5000 Holdings’s ability to grant liens, incur indebtedness, make investments, merge or consolidate, sell or transfer assets, and pay dividends. In addition, the Nordea Credit Agreement obligates Q5000 Holdings to meet minimum financial requirements, including liquidity, consolidated debt service coverage and collateral maintenance.

Other

In accordance with our Credit Agreement, the 2032 Notes, the MARAD Debt agreements, and the Nordea Credit Agreement, 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, 2015, 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, 2015							December 31, 2014
	Gross Carrying Amount		Accumulated Amortization			Net		Gross Carrying Amount		Accumulated Amortization			Net

Term Loan (matures June 2018)	$	3,638	$	(1,273	)	$	2,365	$	3,638	$	(1,091	)	$	2,547
Revolving Credit Facility (matures June 2018)	13,275		(4,646		)	8,629		13,275		(3,982		)	9,293
2032 Notes (mature March 2032)	3,759		(1,916		)	1,843		3,759		(1,763		)	1,996
MARAD Debt (matures February 2027)	12,200		(6,345		)	5,855		12,200		(6,223		)	5,977
Nordea Term Loan	3,586		—			3,586		3,586		—			3,586
Total deferred financing costs	$	36,458	$	(14,180	)	$	22,278	$	36,458	$	(13,059	)	$	23,399

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



	Three Months Ended March 31,
	2015			2014

Interest expense	$	8,409		$	8,362
Interest income	(650		)	(717		)
Capitalized interest	(3,689		)	(3,162		)
Net interest expense	$	4,070		$	4,483

Income Taxes

3 Months Ended

Mar. 31, 2015

Income Tax Disclosure [Abstract]

Income Taxes

Our estimated annual effective tax rate, adjusted for discrete tax items, is applied to interim periods’ pretax earnings. We consider the undistributed earnings of our principal non-U.S. subsidiaries to be permanently reinvested, and as such, we have not provided for any U.S. federal income taxes on these permanently reinvested earnings. We believe that our recorded assets and liabilities are reasonable; however, tax laws and regulations are subject to interpretation and tax litigation is inherently uncertain, and therefore our assessments can involve a series of complex judgments about future events and rely heavily on estimates and assumptions.

The effective tax rates for the three-month periods ended March 31, 2015 and 2014 were 2.0% and 27.4%, respectively. The variance was primarily attributable to the earnings mix between our higher and lower tax rate jurisdictions.

Income taxes have been provided based on the U.S. statutory rate of 35% and at the local statutory rate for each foreign jurisdiction. The primary differences between the U.S. statutory rate and our effective rate are as follows:



	Three Months Ended March 31,
	2015		2014

U.S. statutory rate	35.0	%	35.0	%
Foreign provision	(34.1	)	(8.5	)
Other	1.1		0.9
Effective rate	2.0	%	27.4	%

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

3 Months Ended

Mar. 31, 2015

Equity [Abstract]

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

Accumulated Other Comprehensive Income (Loss) (“OCI”)

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



	March 31, 2015			December 31, 2014

Cumulative foreign currency translation adjustment	$	(44,030	)	$	(30,161	)
Unrealized loss on hedges, net ⁽¹⁾	(38,616		)	(32,091		)
Accumulated other comprehensive loss	$	(82,646	)	$	(62,252	)


(1)	Amounts relate 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 $20.8 million at March 31, 2015 and $17.3 million at December 31, 2014 (Note 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.

+ References

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+ Details

Earnings Per Share

3 Months Ended

Mar. 31, 2015

Earnings Per Share [Abstract]

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.

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 our common shareholders by the weighted average shares of our 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 March 31, 2015				Three Months Ended March 31, 2014
	Income			Shares	Income			Shares
Basic:
Net income applicable to common shareholders	$	19,642			$	53,719
Less undistributed income allocated to participating securities	(114		)		(286		)
Undistributed income allocated to common shares	$	19,528		105,290	$	53,433		105,126

Diluted:
Undistributed income allocated to common shares	$	19,528		105,290	$	53,433		105,126
Effect of dilutive securities:
Share-based awards other than participating securities	—			—	—			249
Undistributed income reallocated to participating securities	—			—	1			—
Net income applicable to common shareholders	$	19,528		105,290	$	53,434		105,375

Approximately 8.0 million of potentially dilutive shares related to the 2032 Notes were excluded from the diluted EPS calculation for the three-month periods ended March 31, 2015 and 2014 because we have the right, intention and ability to settle any such future conversions in cash (Note 6).

Employee Benefit Plans

3 Months Ended

Mar. 31, 2015

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Employee Benefit Plans

Long-Term Incentive Stock-Based Plan

As of March 31, 2015, there were 5.6 million shares of our common stock available for issuance under our active long-term incentive stock-based plan, the 2005 Long-Term Incentive Plan, as amended and restated effective May 9, 2012 (the “2005 Incentive Plan”). During the three-month period ended March 31, 2015, the following grants of share-based awards were made under the 2005 Incentive Plan:



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

January 2, 2015 ⁽¹⁾	289,163	$	21.70	33% per year over three years
January 2, 2015 ⁽²⁾	289,163	$	25.06	100% on January 1, 2018
January 5, 2015 ⁽³⁾	3,946	$	21.66	100% on January 1, 2017
January 12, 2015 ⁽¹⁾	3,866	$	19.40	33% per year over three years
January 12, 2015 ⁽²⁾	3,866	$	25.06	100% on January 11, 2018
February 1, 2015 ⁽¹⁾	2,664	$	18.77	33% per year over three years
February 1, 2015 ⁽²⁾	2,664	$	25.06	100% on January 31, 2018


(1)	Reflects the grant of restricted stock to our executive officers and selected management employees.

(2)

Reflects the grant of performance share units (“PSUs”) to our executive officers and selected management employees. The PSUs provide for an award based on the performance of our common stock over a three-year period with the maximum amount of the award being 200% of the original awarded PSUs and the minimum amount being zero. The vested PSUs may be settled in either cash or shares of our common stock at the discretion of the Compensation Committee of our Board of Directors.


(3)	Reflects the grant of restricted stock 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 for restricted stock is recognized over its vesting period on a straight-line basis. For the three-month periods ended March 31, 2015 and 2014, $1.4 million and $1.2 million, respectively, were recognized as stock-based compensation expense related to restricted stock and restricted stock units.

The estimated fair value of the PSUs on grant date was determined using a Monte Carlo simulation model. Until December 2014, the PSUs were being treated as an equity award. Accordingly, compensation expense associated with the PSUs was fixed, as represented by the number of PSUs multiplied by their respective grant date fair value. The fixed amount was being amortized on a straight-line basis over the three-year vesting period. In connection with the vesting of the 2012 PSU awards (which occurred in January 2015), the decision was made by the Compensation Committee of our Board of Directors to settle these PSUs with a cash payment of $4.5 million rather than an equivalent number of shares of our common stock, which was the default provision of the PSU awards. Accordingly, PSUs are now accounted for as a liability plan. For the three-month period ended March 31, 2015, we recorded a $1.0 million reduction of previously recognized compensation cost to reflect the estimated fair value of unvested PSUs as of March 31, 2015. For the three-month period ended March 31, 2014, $0.5 million was recognized as stock-based compensation expense related to PSUs.

Long-Term Incentive Cash Plans

We have certain long-term incentive cash plans (the “LTI Cash Plans”) that 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). Payment amounts under these awards are calculated based on the ratio of the average stock price during the applicable measurement period over the original base price determined by the Compensation Committee of our Board of Directors at the time of the award. Cash payments under these awards are made each year on the anniversary date of the award. Cash awards granted since 2012 have a vesting period of three years while those granted prior to 2012 have a vesting period of five years. The LTI Cash 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 granted under the LTI Cash Plans to our executive officers and selected management employees totaled $8.9 million in 2014. No long-term incentive cash awards were granted in 2015. For the three-month period ended March 31, 2015, we recorded a $1.9 million reduction of previously recognized compensation expense associated with the cash awards issued pursuant to the LTI Cash Plans, reflecting the effect the decrease in our stock price at the end of March 2015 had on the value of our liability plan. For the three-month period ended March 31, 2014, total compensation expense associated with the cash awards issued pursuant to the LTI Cash Plans was $1.7 million. The liability balance for the cash awards issued under the LTI Cash Plans was $2.0 million at March 31, 2015 and $12.8 million at December 31, 2014.

Employee Stock Purchase Plan

We also have an employee stock purchase plan (the “ESPP”). The ESPP has 1.5 million shares authorized for issuance, of which 1.1 million shares were available for issuance as of March 31, 2015. 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 $0.3 million and $0.2 million for the three-month periods ended March 31, 2015 and 2014, respectively.

For more information regarding our employee benefit plans, including our long-term incentive stock-based and cash plans and our employee stock purchase plan, see Note 8 to our 2014 Form 10-K.

Business Segment Information

3 Months Ended

Mar. 31, 2015

Segment Reporting [Abstract]

Business Segment Information

We have three reportable business segments: Well Intervention, Robotics and Production Facilities. Our Well Intervention segment includes our vessels and equipment used to perform 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 to charter two newbuild 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 includes ROVs, trenchers and ROVDrills designed to complement offshore construction and well intervention services, and will operate five chartered ROV and trencher support vessels following the delivery of the Grand Canyon II in late April 2015. The Production Facilities segment includes the HP I as well as our investments in Deepwater Gateway and Independence Hub that are accounted for under the equity method. The results of our Subsea Construction segment are immaterial and thus no longer meet the threshold to be separately reported as a business segment. These results are now aggregated within “Other” for all periods presented in this Quarterly Report on Form 10-Q. All material intercompany transactions between the segments have been eliminated.

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. Certain financial data by reportable segment are summarized as follows (in thousands):



	Three Months Ended March 31,
	2015			2014
Net revenues —
Well Intervention	$	104,051		$	159,700
Robotics	80,171			87,890
Production Facilities	18,385			23,140
Other	—			358
Intercompany elimination	(12,966		)	(17,516		)
Total	$	189,641		$	253,572

Income (loss) from operations —
Well Intervention	$	14,794		$	48,733
Robotics	9,457			11,219
Production Facilities	4,578			11,384
Corporate and other	(6,607		)	(3,190		)
Intercompany elimination	106			(1,198		)
Total	$	22,328		$	66,948

Equity in earnings of equity investments	$	21		$	708

Intercompany segment amounts are derived primarily from equipment and services provided to other business segments at rates consistent with those charged to third parties. Intercompany segment revenues are as follows (in thousands):



	Three Months Ended March 31,
	2015		2014

Well Intervention	$	4,946	$	5,461
Robotics	8,020		12,055
Total	$	12,966	$	17,516

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



	Three Months Ended March 31,
	2015			2014

Well Intervention	$	(86	)	$	(62	)
Robotics	24			1,304
Production Facilities	(44		)	(44		)
Total	$	(106	)	$	1,198

The following table reflects total assets by reportable segment (in thousands):



	March 31, 2015		December 31, 2014

Well Intervention	$	1,486,347	$	1,470,349
Robotics	296,525		299,701
Production Facilities	452,582		459,427
Corporate and other	412,870		471,221
Total	$	2,648,324	$	2,700,698

- 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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+ Details

Commitments And Contingencies And Other Matters	3 Months Ended
Commitments And Contingencies And Other Matters	Mar. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments And Contingencies And Other Matters	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 delivered in the second quarter of 2015 and will subsequently transit to the Gulf of Mexico. In September 2014, we entered into the Nordea Credit Agreement to partially finance the construction of the Q5000 and other future capital projects. The Nordea Term Loan will be funded at or near the time of the delivery of the Q5000 (Note 6). At March 31, 2015, our total investment in the Q5000 was $359.2 million, including $289.4 million of scheduled payments made to the shipyard. In February 2013, we contracted to charter the Grand Canyon II and the Grand Canyon III for use in our robotics operations. The terms of the charters will be five years from the respective delivery dates. We will take delivery of the Grand Canyon II in late April 2015. The delivery of the Grand Canyon III has been deferred until February 2016. 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 current 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. At March 31, 2015, our total investment in the Q7000 was $98.4 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, 2015, our total investment in the topside equipment for the two vessels was $61.5 million. In November 2014, we paid a charter fee deposit of $12.5 million. Contingencies and Claims We believe that there are currently no contingencies which would have a material effect on our financial position, results of operations or cash flows. Litigation We are involved in various legal proceedings, some 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, 2015

Fair Value Disclosures [Abstract]

Fair Value Measurements

Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value accounting rules establish a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows:


•	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, 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 short-term nature of these instruments. The following tables provide additional information relating to other financial instruments measured at fair value on a recurring basis (in thousands):



	Fair Value Measurements at March 31, 2015 Using
	Level 1		Level 2 ⁽¹⁾		Level 3		Total		Valuation Technique
Assets:
Interest rate swaps	$	—	$	79	$	—	$	79	(c)

Liabilities:
Fair value of long-term debt ⁽²⁾	199,750		370,071		—		569,821		(a)
Foreign exchange contracts	—		62,395		—		62,395		(c)
Interest rate swaps	—		523		—		523		(c)
Total net liability	$	199,750	$	432,910	$	—	$	632,660



	Fair Value Measurements at December 31, 2014 Using
	Level 1		Level 2 ⁽¹⁾		Level 3		Total		Valuation Technique
Assets:
Interest rate swaps	$	—	$	369	$	—	$	369	(c)

Liabilities:
Fair value of long-term debt ⁽²⁾	222,900		375,393		—		598,293		(a)
Foreign exchange contracts	—		50,428		—		50,428		(c)
Interest rate swaps	—		561		—		561		(c)
Total net liability	$	222,900	$	426,013	$	—	$	648,913

(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. See Note 14 for further discussion on fair value of our derivative instruments.


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



	March 31, 2015				December 31, 2014
	Carrying Value		Fair Value ^(b)		Carrying Value		Fair Value ^(b)

Term Loan (matures June 2018)	$	273,750	$	271,355	$	277,500	$	270,563
2032 Notes (mature March 2032) ^(a)	200,000		199,750		200,000		222,900
MARAD Debt (matures February 2027)	92,004		98,716		94,792		104,830
Total debt	$	565,754	$	569,821	$	572,292	$	598,293


(a)	Carrying amount excludes the related unamortized debt discount of $19.5 million at March 31, 2015 and $20.9 million at December 31, 2014.

(b)

The estimated fair value of the 2032 Notes was determined using Level 1 inputs using the market approach. The fair value of the Term Loan and the MARAD Debt was estimated using Level 2 fair value inputs under the market approach. The fair value of the Term Loan and the MARAD Debt was determined using a third party evaluation of the remaining average life and outstanding principal balance of the indebtedness as compared to other obligations in the marketplace with similar terms.

- 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, 2015

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Instruments And Hedging Activities

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 fair value of derivatives 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 15 to our 2014 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 various interest rate swap contracts to fix the interest rate on $148.1 million of our Term Loan (Note 6). These contracts, which are settled monthly, began in October 2013 and extend through October 2016. Our interest rate swap contracts qualify for hedge accounting treatment.

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 related to certain vessel charters that are denominated in 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.

Quantitative Disclosures Relating to Derivative Instruments

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, 2015			December 31, 2014
	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
Asset Derivatives:
Interest rate swaps	Other assets, net	$	79	Other assets, net	$	369
		$	79		$	369

Liability Derivatives:
Foreign exchange contracts	Accrued liabilities	$	16,967	Accrued liabilities	$	12,661
Interest rate swaps	Accrued liabilities	523		Accrued liabilities	561
Foreign exchange contracts	Other non-current liabilities	45,428		Other non-current liabilities	37,767
		$	62,918		$	50,989

For the three-month period ended March 31, 2015, we recorded losses totaling $3.4 million in “Other expense, net” in the accompanying condensed consolidated statement of operations related to ineffectiveness associated with our foreign currency hedges with respect to the Grand Canyon III charter payments as a result of the deferral of the vessel’s delivery until February 2016. Ineffectiveness associated with our cash flow hedges was immaterial for the three-month period ended March 31, 2014. 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, 2015, $9.1 million of 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
	Three Months Ended March 31,
	2015			2014

Foreign exchange contracts	$	(6,361	)	$	3,024
Interest rate swaps	(164		)	39
	$	(6,525	)	$	3,063



	Location of Loss Reclassified from Accumulated OCI into Earnings	Loss Reclassified from Accumulated OCI into Earnings
		Three Months Ended March 31,
		2015			2014

Foreign exchange contracts	Cost of sales	$	(1,474	)	$	(444	)
Interest rate swaps	Net interest expense	(199		)	(214		)
		$	(1,673	)	$	(658	)

- 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
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+ Details

Basis Of Presentation And New Accounting Standards (Policies)	3 Months Ended
	Mar. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis Of Presentation And New Accounting Standards	Basis of Presentation and New 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 2014 Annual Report on Form 10-K (“2014 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, 2015 are not necessarily indicative of the results that may be expected for the year ending December 31, 2015. Our balance sheet as of December 31, 2014 included herein has been derived from the audited balance sheet as of December 31, 2014 included in our 2014 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 2014 Form 10-K.
Reclassification	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.
New Accounting Pronouncements	In May 2014, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, “Revenue from Contracts with Customers (Topic 606).” This ASU provides a single five-step approach to account for revenue arising from contracts with customers. The ASU requires an entity to recognize revenue in a way that depicts the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The new revenue standard is currently effective prospectively for annual reporting periods beginning after December 15, 2016, including interim periods. Early adoption is not permitted. The guidance permits companies to either apply the requirements retrospectively to all prior periods presented, or apply the requirements in the year of adoption through a cumulative adjustment. We are currently evaluating which transition approach to use and the potential impact the adoption of this new standard may have on our consolidated financial statements. In April 2015, the FASB issued ASU No. 2015-03, “Simplifying the Presentation of Debt Issuance Costs.” This ASU requires that debt issuance costs related to a recognized debt liability be reported on the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. This guidance is effective retrospectively beginning in the first quarter of fiscal 2017 and early adoption is permitted. We are currently evaluating the impact of this new standard on our consolidated financial statements.

Details Of Certain Accounts (Tables)

3 Months Ended

Mar. 31, 2015

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Other Current Assets



	March 31, 2015		December 31, 2014
Note receivable ⁽¹⁾	$	10,000	$	17,500
Other receivables	613		423
Prepaid insurance	3,523		6,582
Other prepaids	8,631		15,541
Spare parts inventory	2,112		1,857
Value added tax receivable	8,046		9,326
Other	91		72
Total other current assets	$	33,016	$	51,301


(1)	Relates to the remaining balance of the promissory note we received in connection with the sale of our Ingleside spoolbase in January 2014. Interest on the note is payable quarterly at a rate of 6% per annum. Under the terms of the note, the remaining $20 million principal balance is required to be paid with a $10 million payment on each December 31 of 2015 and 2016.

Other Assets, Net



	March 31, 2015		December 31, 2014

Note receivable ⁽¹⁾	$	10,000	$	10,000
Deferred dry dock expenses, net	11,972		11,631
Deferred financing costs, net (Note 6)	22,278		23,399
Intangible assets with finite lives, net	710		696
Charter fee deposit (Note 12)	12,544		12,544
Other	687		1,002
Total other assets, net	$	58,191	$	59,272


(1)	Relates to the remaining balance of the promissory note we received in connection with the sale of our Ingleside spoolbase in January 2014. Interest on the note is payable quarterly at a rate of 6% per annum. Under the terms of the note, the remaining $20 million principal balance is required to be paid with a $10 million payment on December 31 of 2015 and 2016, respectively.

Accrued Liabilities

Accrued liabilities consist of the following (in thousands):



	March 31, 2015		December 31, 2014

Accrued payroll and related benefits	$	28,561	$	61,246
Current asset retirement obligations	554		575
Unearned revenue	7,653		11,461
Accrued interest	1,952		4,221
Derivative liability (Note 14)	17,491		13,222
Taxes payable excluding income tax payable	6,263		6,236
Other	8,300		7,962
Total accrued liabilities	$	70,774	$	104,923

Statement Of Cash Flow Information (Tables)

3 Months Ended

Mar. 31, 2015

Supplemental Cash Flow Information [Abstract]

Supplemental Cash Flow Information

The following table provides supplemental cash flow information (in thousands):



	Three Months Ended March 31,
	2015		2014

Interest paid, net of interest capitalized	$	4,124	$	4,635
Income taxes paid	$	7,181	$	13,118

Equity Investments (Tables)

3 Months Ended

Mar. 31, 2015

Equity Method Investments and Joint Ventures [Abstract]

Distributions From Equity Investments

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



	Three Months Ended March 31,
	2015		2014

Deepwater Gateway	$	1,000	$	2,000
Independence Hub	400		800
Total	$	1,400	$	2,800

Long-Term Debt (Tables)

3 Months Ended

Mar. 31, 2015

Debt Disclosure [Abstract]

Maturities Of Long-Term Debt

Scheduled maturities of our long-term debt outstanding as of March 31, 2015 are as follows (in thousands):



	Term Loan			MARAD Debt			2032 Notes ⁽¹⁾			Total

Less than one year	$	26,250		$	5,783		$	—		$	32,033
One to two years	30,000			6,072			—			36,072
Two to three years	30,000			6,375			—			36,375
Three to four years	187,500			6,693			—			194,193
Four to five years	—			7,027			—			7,027
Over five years	—			60,054			200,000			260,054
Total debt	273,750			92,004			200,000			565,754
Current maturities	(26,250		)	(5,783		)	—			(32,033		)
Long-term debt, less current maturities	247,500			86,221			200,000			533,721
Unamortized debt discount ⁽²⁾	—			—			(19,456		)	(19,456		)
Long-term debt	$	247,500		$	86,221		$	180,544		$	514,265


(1)	Beginning in March 2018, the holders of our 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)	Our Convertible Senior Notes due 2032 will increase to their face amount through accretion of non-cash interest charges through March 2018.

Deferred Financing Costs

The following table reflects the components of our deferred financing costs (in thousands):



	March 31, 2015							December 31, 2014
	Gross Carrying Amount		Accumulated Amortization			Net		Gross Carrying Amount		Accumulated Amortization			Net

Term Loan (matures June 2018)	$	3,638	$	(1,273	)	$	2,365	$	3,638	$	(1,091	)	$	2,547
Revolving Credit Facility (matures June 2018)	13,275		(4,646		)	8,629		13,275		(3,982		)	9,293
2032 Notes (mature March 2032)	3,759		(1,916		)	1,843		3,759		(1,763		)	1,996
MARAD Debt (matures February 2027)	12,200		(6,345		)	5,855		12,200		(6,223		)	5,977
Nordea Term Loan	3,586		—			3,586		3,586		—			3,586
Total deferred financing costs	$	36,458	$	(14,180	)	$	22,278	$	36,458	$	(13,059	)	$	23,399

Net Interest Expense

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



	Three Months Ended March 31,
	2015			2014

Interest expense	$	8,409		$	8,362
Interest income	(650		)	(717		)
Capitalized interest	(3,689		)	(3,162		)
Net interest expense	$	4,070		$	4,483

Income Taxes (Tables)

3 Months Ended

Mar. 31, 2015

Income Tax Disclosure [Abstract]

Effective Income Tax Rate Reconciliation

The primary differences between the U.S. statutory rate and our effective rate are as follows:



	Three Months Ended March 31,
	2015		2014

U.S. statutory rate	35.0	%	35.0	%
Foreign provision	(34.1	)	(8.5	)
Other	1.1		0.9
Effective rate	2.0	%	27.4	%

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

3 Months Ended

Mar. 31, 2015

Equity [Abstract]

Components Of Accumulated OCI

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



	March 31, 2015			December 31, 2014

Cumulative foreign currency translation adjustment	$	(44,030	)	$	(30,161	)
Unrealized loss on hedges, net ⁽¹⁾	(38,616		)	(32,091		)
Accumulated other comprehensive loss	$	(82,646	)	$	(62,252	)


(1)	Amounts relate 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 $20.8 million at March 31, 2015 and $17.3 million at December 31, 2014 (Note 14).

Earnings Per Share (Tables)

3 Months Ended

Mar. 31, 2015

Earnings Per Share [Abstract]

Computations Of Basic And Diluted EPS



	Three Months Ended March 31, 2015				Three Months Ended March 31, 2014
	Income			Shares	Income			Shares
Basic:
Net income applicable to common shareholders	$	19,642			$	53,719
Less undistributed income allocated to participating securities	(114		)		(286		)
Undistributed income allocated to common shares	$	19,528		105,290	$	53,433		105,126

Diluted:
Undistributed income allocated to common shares	$	19,528		105,290	$	53,433		105,126
Effect of dilutive securities:
Share-based awards other than participating securities	—			—	—			249
Undistributed income reallocated to participating securities	—			—	1			—
Net income applicable to common shareholders	$	19,528		105,290	$	53,434		105,375

Employee Benefit Plans (Tables)

3 Months Ended

Mar. 31, 2015

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Share-Based Awards Granted

During the three-month period ended March 31, 2015, the following grants of share-based awards were made under the 2005 Incentive Plan:



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

January 2, 2015 ⁽¹⁾	289,163	$	21.70	33% per year over three years
January 2, 2015 ⁽²⁾	289,163	$	25.06	100% on January 1, 2018
January 5, 2015 ⁽³⁾	3,946	$	21.66	100% on January 1, 2017
January 12, 2015 ⁽¹⁾	3,866	$	19.40	33% per year over three years
January 12, 2015 ⁽²⁾	3,866	$	25.06	100% on January 11, 2018
February 1, 2015 ⁽¹⁾	2,664	$	18.77	33% per year over three years
February 1, 2015 ⁽²⁾	2,664	$	25.06	100% on January 31, 2018


(1)	Reflects the grant of restricted stock to our executive officers and selected management employees.

(2)


(3)	Reflects the grant of restricted stock 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, 2015

Segment Reporting [Abstract]

Segment Reporting Information By Segment

Certain financial data by reportable segment are summarized as follows (in thousands):



	Three Months Ended March 31,
	2015			2014
Net revenues —
Well Intervention	$	104,051		$	159,700
Robotics	80,171			87,890
Production Facilities	18,385			23,140
Other	—			358
Intercompany elimination	(12,966		)	(17,516		)
Total	$	189,641		$	253,572

Income (loss) from operations —
Well Intervention	$	14,794		$	48,733
Robotics	9,457			11,219
Production Facilities	4,578			11,384
Corporate and other	(6,607		)	(3,190		)
Intercompany elimination	106			(1,198		)
Total	$	22,328		$	66,948

Equity in earnings of equity investments	$	21		$	708

Summary Of Intercompany Segment Revenues

Intercompany segment revenues are as follows (in thousands):



	Three Months Ended March 31,
	2015		2014

Well Intervention	$	4,946	$	5,461
Robotics	8,020		12,055
Total	$	12,966	$	17,516

Intercompany Segment Gross Profit (Losses)

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



	Three Months Ended March 31,
	2015			2014

Well Intervention	$	(86	)	$	(62	)
Robotics	24			1,304
Production Facilities	(44		)	(44		)
Total	$	(106	)	$	1,198

Summary Of Identifiable Assets

The following table reflects total assets by reportable segment (in thousands):



	March 31, 2015		December 31, 2014

Well Intervention	$	1,486,347	$	1,470,349
Robotics	296,525		299,701
Production Facilities	452,582		459,427
Corporate and other	412,870		471,221
Total	$	2,648,324	$	2,700,698

Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2015

Fair Value Disclosures [Abstract]

Assets And Liabilities Measured At Fair Value On A Recurring Basis

The following tables provide additional information relating to other financial instruments measured at fair value on a recurring basis (in thousands):



	Fair Value Measurements at March 31, 2015 Using
	Level 1		Level 2 ⁽¹⁾		Level 3		Total		Valuation Technique
Assets:
Interest rate swaps	$	—	$	79	$	—	$	79	(c)

Liabilities:
Fair value of long-term debt ⁽²⁾	199,750		370,071		—		569,821		(a)
Foreign exchange contracts	—		62,395		—		62,395		(c)
Interest rate swaps	—		523		—		523		(c)
Total net liability	$	199,750	$	432,910	$	—	$	632,660



	Fair Value Measurements at December 31, 2014 Using
	Level 1		Level 2 ⁽¹⁾		Level 3		Total		Valuation Technique
Assets:
Interest rate swaps	$	—	$	369	$	—	$	369	(c)

Liabilities:
Fair value of long-term debt ⁽²⁾	222,900		375,393		—		598,293		(a)
Foreign exchange contracts	—		50,428		—		50,428		(c)
Interest rate swaps	—		561		—		561		(c)
Total net liability	$	222,900	$	426,013	$	—	$	648,913

(1)


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

Value Of Long-Term Debt

The value of our long-term debt is as follows (in thousands):



	March 31, 2015				December 31, 2014
	Carrying Value		Fair Value ^(b)		Carrying Value		Fair Value ^(b)

Term Loan (matures June 2018)	$	273,750	$	271,355	$	277,500	$	270,563
2032 Notes (mature March 2032) ^(a)	200,000		199,750		200,000		222,900
MARAD Debt (matures February 2027)	92,004		98,716		94,792		104,830
Total debt	$	565,754	$	569,821	$	572,292	$	598,293


(a)	Carrying amount excludes the related unamortized debt discount of $19.5 million at March 31, 2015 and $20.9 million at December 31, 2014.

(b)

- 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=34725769&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, 2015

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivatives Designated As Hedging Instruments

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, 2015			December 31, 2014
	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
Asset Derivatives:
Interest rate swaps	Other assets, net	$	79	Other assets, net	$	369
		$	79		$	369

Liability Derivatives:
Foreign exchange contracts	Accrued liabilities	$	16,967	Accrued liabilities	$	12,661
Interest rate swaps	Accrued liabilities	523		Accrued liabilities	561
Foreign exchange contracts	Other non-current liabilities	45,428		Other non-current liabilities	37,767
		$	62,918		$	50,989

Gain (Loss) Recognized In OCI On Derivatives, Net Of Tax

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, 2015, $9.1 million of 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
	Three Months Ended March 31,
	2015			2014

Foreign exchange contracts	$	(6,361	)	$	3,024
Interest rate swaps	(164		)	39
	$	(6,525	)	$	3,063

Loss Reclassified From Accumulated OCI Into Earnings



	Location of Loss Reclassified from Accumulated OCI into Earnings	Loss Reclassified from Accumulated OCI into Earnings
		Three Months Ended March 31,
		2015			2014

Foreign exchange contracts	Cost of sales	$	(1,474	)	$	(444	)
Interest rate swaps	Net interest expense	(199		)	(214		)
		$	(1,673	)	$	(658	)

Company Overview (Details)	3 Months Ended
Company Overview (Details)	Mar. 31, 2015 segment vessel
Segment Reporting Information [Line Items]
Number of reportable segments \| segment	3
Robotics [Member]
Segment Reporting Information [Line Items]
Number of chartered vessels \| vessel	5

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

12 Months Ended

Dec. 31, 2016

Dec. 31, 2015

Mar. 31, 2015

Dec. 31, 2014

Accounts, Notes, Loans and Financing Receivable [Line Items]

Note receivable

^[1]

$ 10,000

$ 17,500

Other receivables

613

423

Prepaid insurance

3,523

6,582

Other prepaids

8,631

15,541

Spare parts inventory

2,112

1,857

Value added tax receivable

8,046

9,326

Other

Total other current assets

$ 33,016

$ 51,301

Note receivable, interest rate

6.00%

Financing receivable, gross

$ 20,000

Scenario, Forecast [Member]

Accounts, Notes, Loans and Financing Receivable [Line Items]

Note receivable, periodic principal payment

$ 10,000

[1]

Relates to the remaining balance of the promissory note we received in connection with the sale of our Ingleside spoolbase in January 2014. Interest on the note is payable quarterly at a rate of 6% per annum. Under the terms of the note, the remaining $20 million principal balance is required to be paid with a $10 million payment on December 31 of 2015 and 2016, respectively.

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

12 Months Ended

Dec. 31, 2016

Dec. 31, 2015

Mar. 31, 2015

Dec. 31, 2014

Nov. 30, 2014

Accounts, Notes, Loans and Financing Receivable [Line Items]

Note receivable

^[1]

$ 10,000

Deferred dry dock expenses, net

11,972

11,631

Deferred financing costs, net (Note 6)

22,278

23,399

Intangible assets with finite lives, net

710

696

Charter fee deposit (Note 12)

12,544

$ 12,500

Other

687

1,002

Total other assets, net

$ 58,191

$ 59,272

Note receivable, interest rate

6.00%

Financing receivable, gross

$ 20,000

Scenario, Forecast [Member]

Accounts, Notes, Loans and Financing Receivable [Line Items]

Note receivable, periodic principal payment

$ 10,000

[1]

Details Of Certain Accounts (Accrued Liabilities) (Details) - USD ($) $ in Thousands	Mar. 31, 2015	Dec. 31, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accrued payroll and related benefits	$ 28,561	$ 61,246
Current asset retirement obligations	554	575
Unearned revenue	7,653	11,461
Accrued interest	1,952	4,221
Derivative liability (Note 14)	17,491	13,222
Taxes payable excluding income tax payable	6,263	6,236
Other	8,300	7,962
Total accrued liabilities	$ 70,774	$ 104,923

Statement Of Cash Flow Information (Supplemental Cash Flow Information) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Supplemental Cash Flow Information [Abstract]
Interest paid, net of interest capitalized	$ 4,124	$ 4,635
Income taxes paid	$ 7,181	$ 13,118

Statement Of Cash Flow Information (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2015	Dec. 31, 2014
Supplemental Cash Flow Information [Abstract]
Accruals for capital expenditures	$ 17.5	$ 14.1
Noncash consideration received	$ 30.0

Equity Investments (Details) ft in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2015 USD ($) equity_investment ft	Dec. 31, 2014 USD ($)
Schedule of Equity Method Investments [Line Items]
Number of equity investments \| equity_investment	2
Equity investments in unconsolidated affiliates	$ 148,147	$ 149,623
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	$ 80,100	80,900
Capitalized interest	$ 1,200	1,200
Independence Hub, LLC [Member]
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	20.00%
Equity investments in unconsolidated affiliates	$ 68,000	68,800
Capitalized interest	$ 3,900	$ 3,900
Water depth \| ft	8

Equity Investments (Distributions From Equity Investments) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Schedule of Equity Method Investments [Line Items]
Distributions from equity investments	$ 1,400	$ 2,800
Deepwater Gateway, L.L.C. [Member]
Schedule of Equity Method Investments [Line Items]
Distributions from equity investments	1,000	2,000
Independence Hub, LLC [Member]
Schedule of Equity Method Investments [Line Items]
Distributions from equity investments	$ 400	$ 800

Long-Term Debt (Credit Agreement) (Details) - USD ($)	1 Months Ended	3 Months Ended
Long-Term Debt (Credit Agreement) (Details) - USD ($)	Jun. 30, 2013	Mar. 31, 2015	Sep. 30, 2013
Interest Rate Swaps [Member]
Debt Instrument [Line Items]
Notional amount of derivative			$ 148,100,000
Term Loan Maturing June 2018 [Member]
Debt Instrument [Line Items]
Original borrowing capacity	$ 300,000,000
Debt instrument, periodic payment terms, balloon payment to be paid	$ 180,000,000
Debt instrument, maturity date	Jun. 19, 2018
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%
Term Loan Maturing June 2018 [Member] \| London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Basis spread on variable rate		2.25%
Revolving Credit Facility Maturing June 2018 [Member]
Debt Instrument [Line Items]
Original borrowing capacity	$ 600,000,000
Line of credit facility, maximum additional commitments	$ 200,000,000
Revolving credit facility available		$ 583,700,000
Unsecured letters of credit		$ 16,300,000
Commitment fee percentage		0.375%
Minimum [Member] \| Term Loan Maturing June 2018 [Member] \| London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Basis spread on variable rate	2.00%
Minimum [Member] \| Term Loan Maturing June 2018 [Member] \| Base Rate [Member]
Debt Instrument [Line Items]
Basis spread on variable rate	1.00%
Maximum [Member] \| Term Loan Maturing June 2018 [Member] \| London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Basis spread on variable rate	3.00%
Maximum [Member] \| Term Loan Maturing June 2018 [Member] \| Base Rate [Member]
Debt Instrument [Line Items]
Basis spread on variable rate	2.00%
Years Three Through Five [Member] \| Term Loan Maturing June 2018 [Member]
Debt Instrument [Line Items]
Debt instrument, periodic payment, principal, percentage	10.00%
Debt instrument, periodic payment, principal	$ 30,000,000
Years one and two \| Term Loan Maturing June 2018 [Member]
Debt Instrument [Line Items]
Debt instrument, periodic payment, principal, percentage	5.00%
Debt instrument, periodic payment, principal	$ 15,000,000

Long-Term Debt (Convertible Senior Notes Dues 2032) (Details) - USD ($)	1 Months Ended
	Mar. 31, 2012	Mar. 31, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Long-term debt, carrying value		$ 565,754,000
Unamortized debt discount		19,456,000	$ 20,900,000
Convertible Senior Notes 2032 [Member]
Debt Instrument [Line Items]
Long-term debt, carrying value	$ 200,000,000	200,000,000
Debt instrument interest rate	3.25%
Debt instrument, frequency of periodic payment	semi-annually
Debt instrument, maturity date	Mar. 15, 2032
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	$ 19,456,000
Expected life used to estimate fair value	6 years
Effective interest rate		6.90%
Debt Instrument, Convertible, Carrying Amount of Equity Component		$ 22,500,000

Long-Term Debt (MARAD Debt) (Details) - MARAD Debt [Member]	1 Months Ended
	Aug. 31, 2002	Sep. 30, 2005
Debt Instrument [Line Items]
Debt instrument, frequency of periodic payment	semi-annual
Debt instrument, maturity date	February 2027
Guarantor obligations, liquidation proceeds, percentage	50.00%
Basis spread on variable rate	0.20%
Debt instrument interest rate		4.93%

Long-Term Debt (Nordea Credit Agreement) (Details) - Nordea Term Loan [Member]	1 Months Ended
	Sep. 30, 2014 USD ($)
Debt Instrument [Line Items]
Original borrowing capacity	$ 250,000,000
Commitment fee percentage	0.875%
Debt instrument, term	5 years
Debt instrument, periodic payment, principal	$ 8,900,000.0
Debt instrument, frequency of periodic payment	quarterly
Debt instrument, periodic payment terms, balloon payment to be paid	$ 80,400,000
London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Basis spread on variable rate	2.50%

Long-Term Debt (Maturities Of Long-Term Debt) (Details) - USD ($)	1 Months Ended	3 Months Ended
	Aug. 31, 2002	Mar. 31, 2015	Dec. 31, 2014	Mar. 31, 2012
Debt Instrument [Line Items]
Less than one year		$ 32,033,000
One to two years		36,072,000
Two to three years		36,375,000
Three to four years		194,193,000
Four to five years		7,027,000
Over five years		260,054,000
Total debt		565,754,000
Current maturities		(32,033,000)	$ (28,144,000)
Long-term Debt, Excluding Current Maturities, Gross		533,721,000
Long-term debt, less current maturities		514,265,000	523,228,000
Unamortized debt discount		(19,456,000)	(20,900,000)
Term Loan Maturing June 2018 [Member]
Debt Instrument [Line Items]
Less than one year		26,250,000
One to two years		30,000,000
Two to three years		30,000,000
Three to four years		187,500,000
Total debt		273,750,000	277,500,000
Current maturities		(26,250,000)
Long-term Debt, Excluding Current Maturities, Gross		247,500,000
Long-term debt, less current maturities		247,500,000
MARAD Debt [Member]
Debt Instrument [Line Items]
Less than one year		5,783,000
One to two years		6,072,000
Two to three years		6,375,000
Three to four years		6,693,000
Four to five years		7,027,000
Over five years		60,054,000
Total debt		92,004,000	$ 94,792,000
Current maturities		(5,783,000)
Long-term Debt, Excluding Current Maturities, Gross		86,221,000
Long-term debt, less current maturities		86,221,000
Debt instrument, maturity date	February 2027
Convertible Senior Notes 2032 [Member]
Debt Instrument [Line Items]
Over five years		200,000,000
Total debt		200,000,000		$ 200,000,000
Long-term Debt, Excluding Current Maturities, Gross		200,000,000
Long-term debt, less current maturities		180,544,000
Unamortized debt discount		$ (19,456,000)		$ (35,400,000)
Debt instrument, maturity date		March 2032

Long-Term Debt (Deferred Financing Costs) (Details) - USD ($) $ in Thousands	Mar. 31, 2015	Dec. 31, 2014
Term Loan Maturing June 2018 [Member]
Debt Instrument [Line Items]
Gross carrying amount	$ 3,638	$ 3,638
Accumulated amortization	(1,273)	(1,091)
Net	2,365	2,547
Revolving Credit Facility Maturing June 2018 [Member]
Debt Instrument [Line Items]
Gross carrying amount	13,275	13,275
Accumulated amortization	(4,646)	(3,982)
Net	8,629	9,293
Convertible Senior Notes 2032 [Member]
Debt Instrument [Line Items]
Gross carrying amount	3,759	3,759
Accumulated amortization	(1,916)	(1,763)
Net	1,843	1,996
MARAD Debt [Member]
Debt Instrument [Line Items]
Gross carrying amount	12,200	12,200
Accumulated amortization	(6,345)	(6,223)
Net	5,855	5,977
Nordea Term Loan [Member]
Debt Instrument [Line Items]
Gross carrying amount	3,586	3,586
Net	3,586	3,586
Debt [Member]
Debt Instrument [Line Items]
Gross carrying amount	36,458	36,458
Accumulated amortization	(14,180)	(13,059)
Net	$ 22,278	$ 23,399

Long-Term Debt (Net Interest Expense) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Debt Disclosure [Abstract]
Interest expense	$ 8,409	$ 8,362
Interest income	(650)	(717)
Capitalized interest	(3,689)	(3,162)
Net interest expense	$ 4,070	$ 4,483

Income Taxes (Narrative) (Details)	3 Months Ended
Income Taxes (Narrative) (Details)	Mar. 31, 2015	Mar. 31, 2014
Income Tax Disclosure [Abstract]
Effective tax rate	2.00%	27.40%
U.S. statutory rate	35.00%	35.00%

Income Taxes (Effective Income Tax Rate Reconciliation) (Details)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Effective Income Tax Rate Reconciliation, Percent [Abstract]
U.S. statutory rate	35.00%	35.00%
Foreign provision	(34.10%)	(8.50%)
Other	1.10%	0.90%
Effective tax rate	2.00%	27.40%

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

Mar. 31, 2015

Dec. 31, 2014

Equity [Abstract]

Cumulative foreign currency translation adjustment

$ (44,030)

$ (30,161)

Unrealized loss on hedges, net

^[1]

(38,616)

(32,091)

Accumulated other comprehensive loss

(82,646)

(62,252)

Deferred tax asset, other comprehensive loss

$ 20,800

$ 17,300

[1]

Amounts relate 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 $20.8 million at March 31, 2015 and $17.3 million at December 31, 2014 (Note 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) - shares shares in Millions	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Convertible Senior Notes 2032 [Member]
Debt Instrument [Line Items]
Antidilutive securities	8.0	8.0

Earnings Per Share (Computations Of Basic And Diluted EPS) (Details) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Basic:
Net income applicable to common shareholders	$ 19,642	$ 53,719
Less undistributed income allocated to participating securities	(114)	(286)
Undistributed income allocated to common shares	$ 19,528	$ 53,433
Weighted average number of shares outstanding (in shares)	105,290	105,126
Diluted:
Undistributed income allocated to common shares	$ 19,528	$ 53,433
Share-based awards other than participating securities	$ 0	$ 0
Share-based awards other than participating securities (in shares)	0	249
Undistributed income reallocated to participating securities	$ 0	$ 1
Net income applicable to common shareholders	$ 19,528	$ 53,434
Weighted average number of shares outstanding (in shares)	105,290	105,375

Employee Benefit Plans (Narrative) (Details) - USD ($) shares in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011	Jan. 31, 2015	Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for grant	5.6
Compensation cost related to restricted shares	$ 1,400,000	$ 1,200,000
Deferred compensation arrangement with individual, distributions paid						$ 4,500,000
Deferred compensation arrangement, vesting period				3 years	5 years
Deferred compensation arrangement, cash awards granted, amount	0						$ 8,900,000
Deferred compensation arrangement, compensation expense		1,700,000
Deferred compensation cash-based arrangement, liability	$ 2,000,000						$ 12,800,000
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%
Share-based payment award, vesting period	3 years		3 years
Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated share-based compensation expense		500,000
Share-based payment award, vesting period	3 years
E S P P [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for grant	1.1
Allocated share-based compensation expense	$ 300,000	$ 200,000
Shares authorized for issuance	1.5
Scenario, Adjustment [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Deferred compensation arrangement, compensation expense	$ (1,900,000)
Scenario, Adjustment [Member] \| Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated share-based compensation expense	$ (1,000,000)

Employee Benefit Plans (Share-Based Awards Granted) (Details) - $ / shares

3 Months Ended

12 Months Ended

Mar. 31, 2015

Dec. 31, 2013

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

Share-based payment award, vesting period

3 years

Performance Shares [Member]

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

Share-based payment award, vesting period

3 years

Grant Share Amount A [Member]

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

Share-based payment award, grant date

^[1]

Jan. 02, 2015

Share-based payment award, shares

289,163

Share-based payment award, market value per share

$ 21.70

Share-based payment award, vesting percentage

^[1]

33.00%

Share-based payment award, vesting period

^[1]

3 years

Grant Share Amount B [Member]

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

Share-based payment award, grant date

^[2]

Jan. 02, 2015

Share-based payment award, shares

289,163

Share-based payment award, market value per share

$ 25.06

Share-based payment award, vesting percentage

^[2]

100.00%

Share-based payment award, vesting date

^[2]

Jan. 01, 2018

Grant Share Amount C [Member]

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

Share-based payment award, grant date

^[3]

Jan. 05, 2015

Share-based payment award, shares

3,946

Share-based payment award, market value per share

$ 21.66

Share-based payment award, vesting percentage

^[3]

100.00%

Share-based payment award, vesting date

^[3]

Jan. 01, 2017

Grant Share Amount D [Member]

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

Share-based payment award, grant date

^[3]

Jan. 12, 2015

Share-based payment award, shares

3,866

Share-based payment award, market value per share

$ 19.40

Share-based payment award, vesting percentage

^[1]

33.00%

Share-based payment award, vesting period

^[1]

3 years

Grant Share Amount E [Member]

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

Share-based payment award, grant date

^[3]

Jan. 12, 2015

Share-based payment award, shares

3,866

Share-based payment award, market value per share

$ 25.06

Share-based payment award, vesting percentage

^[3]

100.00%

Share-based payment award, vesting date

^[3]

Jan. 11, 2018

Grant Share Amount F [Member]

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

Share-based payment award, grant date

^[3]

Feb. 01, 2015

Share-based payment award, shares

2,664

Share-based payment award, market value per share

$ 18.77

Share-based payment award, vesting percentage

^[1]

33.00%

Share-based payment award, vesting period

^[1]

3 years

Grant Share Amount G [Member]

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

Share-based payment award, grant date

^[3]

Feb. 01, 2015

Share-based payment award, shares

2,664

Share-based payment award, market value per share

$ 25.06

Share-based payment award, vesting percentage

^[3]

100.00%

Share-based payment award, vesting date

^[3]

Jan. 31, 2018

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 stock to our executive officers and selected management employees.
[2]	Reflects the grant of performance share units (“PSUs”) to our executive officers and selected management employees. The PSUs provide for an award based on the performance of our common stock over a three-year period with the maximum amount of the award being 200% of the original awarded PSUs and the minimum amount being zero. The vested PSUs may be settled in either cash or shares of our common stock at the discretion of the Compensation Committee of our Board of Directors.
[3]	Reflects the grant of restricted stock 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)	1 Months Ended	3 Months Ended
Business Segment Information (Narrative) (Details)	Feb. 28, 2014 vessel	Mar. 31, 2015 segment vessel
Segment Reporting Information [Line Items]
Number of reportable segments \| segment		3
Monohull Vessels [Member]
Segment Reporting Information [Line Items]
Number of vessels under construction	2	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, 2015	Mar. 31, 2014
Segment Reporting Information [Line Items]
Net revenues	$ 189,641	$ 253,572
Operating Income (Loss)	22,328	66,948
Equity in earnings of investments	21	708
Intercompany Elimination [Member]
Segment Reporting Information [Line Items]
Net revenues	(12,966)	(17,516)
Operating Income (Loss)	106	(1,198)
Well Intervention [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Net revenues	104,051	159,700
Operating Income (Loss)	14,794	48,733
Well Intervention [Member] \| Intercompany Elimination [Member]
Segment Reporting Information [Line Items]
Net revenues	(4,946)	(5,461)
Robotics [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Net revenues	80,171	87,890
Operating Income (Loss)	9,457	11,219
Robotics [Member] \| Intercompany Elimination [Member]
Segment Reporting Information [Line Items]
Net revenues	(8,020)	(12,055)
Production Facilities [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Net revenues	18,385	23,140
Operating Income (Loss)	4,578	11,384
Other [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Net revenues	0	358
Corporate and Other [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Operating Income (Loss)	$ (6,607)	$ (3,190)

Business Segment Information (Summary Of Intercompany Segment Revenues) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Segment Reporting Information [Line Items]
Net revenues	$ (189,641)	$ (253,572)
Intercompany Elimination [Member]
Segment Reporting Information [Line Items]
Net revenues	12,966	17,516
Well Intervention [Member] \| Intercompany Elimination [Member]
Segment Reporting Information [Line Items]
Net revenues	4,946	5,461
Robotics [Member] \| Intercompany Elimination [Member]
Segment Reporting Information [Line Items]
Net revenues	$ 8,020	$ 12,055

Business Segment Information (Intercompany Segment Gross Profit (Loss)) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Segment Reporting Information [Line Items]
Gross profit (loss)	$ (34,947)	$ (75,846)
Intercompany Elimination [Member]
Segment Reporting Information [Line Items]
Gross profit (loss)	(106)	1,198
Well Intervention [Member] \| Intercompany Elimination [Member]
Segment Reporting Information [Line Items]
Gross profit (loss)	(86)	(62)
Robotics [Member] \| Intercompany Elimination [Member]
Segment Reporting Information [Line Items]
Gross profit (loss)	24	1,304
Production Facilities [Member] \| Intercompany Elimination [Member]
Segment Reporting Information [Line Items]
Gross profit (loss)	$ (44)	$ (44)

Business Segment Information (Intercompany Segment Assets) (Details) - USD ($) $ in Thousands	Mar. 31, 2015	Dec. 31, 2014
Segment Reporting Information [Line Items]
Assets	$ 2,648,324	$ 2,700,698
Well Intervention [Member]
Segment Reporting Information [Line Items]
Assets	1,486,347	1,470,349
Robotics [Member]
Segment Reporting Information [Line Items]
Assets	296,525	299,701
Production Facilities [Member]
Segment Reporting Information [Line Items]
Assets	452,582	459,427
Corporate and Other [Member]
Segment Reporting Information [Line Items]
Assets	$ 412,870	$ 471,221

Commitments And Contingencies And Other Matters (Narrative) (Details) $ in Thousands	1 Months Ended				3 Months Ended
	Feb. 28, 2014 vessel	Sep. 30, 2013 USD ($)	Feb. 28, 2013	Mar. 31, 2012 USD ($)	Mar. 31, 2015 USD ($) vessel	Dec. 31, 2014 USD ($)	Nov. 30, 2014 USD ($)
Commitments And Contingencies [Line Items]
Property and equipment					$ 2,287,411	$ 2,241,444
Charter fee deposit					12,544	$ 12,544	$ 12,500
Q7000 [Member]
Commitments And Contingencies [Line Items]
Long-term purchase commitment		$ 346,000
Property and equipment					98,400
Q5000 [Member]
Commitments And Contingencies [Line Items]
Property and equipment					359,200
Q5000 [Member] \| Shipyard [Member]
Commitments And Contingencies [Line Items]
Long-term purchase commitment				$ 386,500
Property and equipment					$ 289,400
Grand Canyon II and III [Member]
Commitments And Contingencies [Line Items]
Term of charter agreement			5 years
Monohull Vessels [Member]
Commitments And Contingencies [Line Items]
Term of charter agreement	4 years
Number of vessels under construction \| vessel	2				2
Topside Equipment [Member]
Commitments And Contingencies [Line Items]
Property and equipment					$ 61,500
Contract Signing [Member] \| Q7000 [Member]
Commitments And Contingencies [Line Items]
Long-term purchase commitment percentage		20.00%
Payments to acquire property, plant, and equipment					$ 69,200
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) - USD ($)
$ in Thousands

Mar. 31, 2015

Dec. 31, 2014

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

Total net liability

$ 632,660

$ 648,913

Level 1 [Member]

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

Total net liability

199,750

222,900

Level 2 [Member]

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

Total net liability

^[1]

432,910

426,013

Level 3 [Member]

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

Total net liability

Interest Rate Swaps [Member]

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

Assets

369

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

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

Assets

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

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

Assets

^[1]

369

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

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

Assets

Fair Value Of Long-Term Debt [Member]

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

Liabilities

^[2]

569,821

598,293

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

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

Liabilities

^[2]

199,750

222,900

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

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

Liabilities

^[1],[2]

370,071

375,393

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

62,395

50,428

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

^[1]

62,395

50,428

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

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

Liabilities

Interest Rate Swaps [Member]

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

Liabilities

523

561

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

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

Liabilities

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

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

Liabilities

^[1]

523

561

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

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

Liabilities

$ 0

[1]

[2]

See Note 6 for additional information regarding our long-term debt. The value of our long-term debt is as follows (in thousands): March 31, 2015 December 31, 2014 Carrying Value FairValue (b) Carrying Value FairValue (b) Term Loan (matures June 2018)$273,750 $271,355 $277,500 $270,5632032 Notes (mature March 2032) (a)200,000 199,750 200,000 222,900MARAD Debt (matures February 2027)92,004 98,716 94,792 104,830Total debt$565,754 $569,821 $572,292 $598,293

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

Mar. 31, 2015

Dec. 31, 2014

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

Long-term debt, carrying value

$ 565,754

Unamortized debt discount

(19,456)

$ (20,900)

Term Loan Maturing June 2018 [Member]

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

Long-term debt, carrying value

273,750

277,500

Long-term debt, fair value

^[1]

271,355

270,563

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

^[2]

200,000

Long-term debt, fair value

^[1],[2]

199,750

222,900

MARAD Debt [Member]

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

Long-term debt, carrying value

92,004

94,792

Long-term debt, fair value

^[1]

98,716

104,830

Loan Notes [Member]

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

Long-term debt, carrying value

565,754

572,292

Long-term debt, fair value

^[1]

$ 569,821

$ 598,293

[1]

[2]

Carrying amount excludes the related unamortized debt discount of $19.5 million at March 31, 2015 and $20.9 million at December 31, 2014.

Derivative Instruments And Hedging Activities (Narrative) (Details) kr in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2015 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]
Loss on foreign currency cash flow hedge ineffectiveness	$ 3.4
Future losses to be re-classified to earnings	$ 9.1
Interest Rate Swaps [Member]
Derivative [Line Items]
Notional amount of derivative		$ 148.1
Grand Canyon [Member]
Derivative [Line Items]
Notional amount of derivative					kr 591.3	$ 104.6
Grand Canyon II [Member]
Derivative [Line Items]
Notional amount of derivative			kr 594.7	$ 100.4
Grand Canyon III [Member]
Derivative [Line Items]
Notional amount of derivative			kr 595.0	$ 98.8

Derivative Instruments And Hedging Activities (Derivatives Designated As Hedging Instruments) (Details) - USD ($) $ in Thousands	Mar. 31, 2015	Dec. 31, 2014
Derivatives, Fair Value [Line Items]
Asset derivatives designated as hedging instruments	$ 79	$ 369
Liability derivatives designated as hedging instruments	62,918	50,989
Other Assets, Net [Member] \| Interest Rate Swaps [Member]
Derivatives, Fair Value [Line Items]
Asset derivatives designated as hedging instruments	79	369
Accrued Liabilities [Member] \| Interest Rate Swaps [Member]
Derivatives, Fair Value [Line Items]
Liability derivatives designated as hedging instruments	523	561
Accrued Liabilities [Member] \| Foreign Exchange Contracts [Member]
Derivatives, Fair Value [Line Items]
Liability derivatives designated as hedging instruments	16,967	12,661
Other Noncurrent Liabilities [Member] \| Foreign Exchange Contracts [Member]
Derivatives, Fair Value [Line Items]
Liability derivatives designated as hedging instruments	$ 45,428	$ 37,767

Derivative Instruments And Hedging Activities (Gain (Loss) Recognized In OCI On Derivatives, Net Of Tax) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in OCI on derivatives, net of tax	$ (6,525)	$ 3,063
Foreign Exchange Contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in OCI on derivatives, net of tax	(6,361)	3,024
Interest Rate Swaps [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in OCI on derivatives, net of tax	$ (164)	$ 39

Derivative Instruments And Hedging Activities (Loss Reclassified From Accumulated OCI Into Earnings) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Derivative Instruments, Gain (Loss) [Line Items]
Loss reclassified from accumulated OCI into earnings	$ (1,673)	$ (658)
Foreign Exchange Contracts [Member] \| Cost of Sales [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Loss reclassified from accumulated OCI into earnings	(1,474)	(444)
Interest Rate Swaps [Member] \| Net Interest Expense [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Loss reclassified from accumulated OCI into earnings	$ (199)	$ (214)