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Document and Entity Information - USD ($) $ in Billions	12 Months Ended
Document and Entity Information - USD ($) $ in Billions	Dec. 31, 2015	Feb. 25, 2016	Jun. 30, 2015
Document And Entity Information [Abstract]
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
Document Type	10-K
Document Period End Date	Dec. 31, 2015
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	FY
Amendment Flag	false
Entity Common Stock, Shares Outstanding		107,543,215
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Public Float			$ 1.2

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents	$ 494,192	$ 476,492
Accounts receivable:
Trade, net of allowance for uncollectible accounts of $350 and $4,735, respectively	76,287	104,724
Unbilled revenue	20,434	28,542
Costs in excess of billing	31	2,034
Current deferred tax assets	53,573	31,180
Other current assets	39,518	51,301
Total current assets	684,035	694,273
Property and equipment	2,544,857	2,241,444
Less accumulated depreciation	(941,848)	(506,060)
Property and equipment, net	1,603,009	1,735,384
Other assets:
Equity investments	26,200	149,623
Goodwill	45,107	62,146
Other assets, net	53,601	59,272
Total assets	2,411,952	2,700,698
Current liabilities:
Accounts payable	65,370	83,403
Accrued liabilities	71,641	104,923
Income tax payable	2,261	9,143
Current maturities of long-term debt	71,640	28,144
Total current liabilities	210,912	225,613
Long-term debt	689,688	523,228
Deferred tax liabilities	180,974	260,275
Other non-current liabilities	51,415	38,108
Total liabilities	1,132,989	1,047,224
Commitments and contingencies
Shareholders’ equity:
Common stock, no par, 240,000 shares authorized, 106,289 and 105,586 shares issued, respectively	945,565	934,447
Retained earnings	404,299	781,279
Accumulated other comprehensive loss	(70,901)	(62,252)
Total shareholders’ equity	1,278,963	1,653,474
Total liabilities and shareholders’ equity	$ 2,411,952	$ 2,700,698

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Current assets:
Allowance for uncollectible accounts	$ 350	$ 4,735
Shareholders’ equity:
Common stock, shares authorized	240,000,000	240,000,000
Common stock, shares issued	106,289,000	105,586,000

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Income Statement [Abstract]
Net revenues	$ 695,802	$ 1,107,156	$ 876,561
Cost of sales:
Cost of sales	584,566	763,120	615,876
Asset impairments	345,010	0	0
Total cost of sales	929,576	763,120	615,876
Gross profit (loss)	(233,774)	344,036	260,685
Goodwill impairment	(16,399)	0	0
Loss on commodity derivative contracts	0	0	(14,113)
Gain on disposition of assets, net	92	10,240	14,727
Selling, general and administrative expenses	(57,279)	(92,520)	(82,265)
Income (loss) from operations	(307,360)	261,756	179,034
Equity in earnings (losses) of investments	(124,345)	879	2,965
Net interest expense	(26,914)	(17,859)	(32,898)
Loss on early extinguishment of long-term debt	0	0	(12,100)
Other income (expense), net	(24,310)	814	6
Other income – oil and gas	4,759	16,931	6,581
Income (loss) before income taxes	(478,170)	262,521	143,588
Income tax provision (benefit)	(101,190)	66,971	31,612
Net income (loss) from continuing operations	(376,980)	195,550	111,976
Income from discontinued operations, net of tax	0	0	1,073
Net income (loss), including noncontrolling interests	(376,980)	195,550	113,049
Less net income applicable to noncontrolling interests	0	(503)	(3,127)
Net income (loss) applicable to common shareholders	$ (376,980)	$ 195,047	$ 109,922
Basic earnings (loss) per share of common stock:
Continuing operations (in dollars per share)	$ (3.58)	$ 1.85	$ 1.03
Discontinued operations (in dollars per share)	0.00	0.00	0.01
Net income (loss) per common share (in dollars per share)	(3.58)	1.85	1.04
Diluted earnings (loss) per share of common stock:
Continuing operations (in dollars per share)	(3.58)	1.85	1.03
Discontinued operations (in dollars per share)	0.00	0.00	0.01
Net income (loss) per common share (in dollars per share)	$ (3.58)	$ 1.85	$ 1.04
Weighted average common shares outstanding:
Basic (in shares)	105,416	105,029	105,032
Diluted (in shares)	105,416	105,045	105,184

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Statement of Comprehensive Income [Abstract]
Net income (loss), including noncontrolling interests	$ (376,980)	$ 195,550	$ 113,049
Other comprehensive loss, net of tax:
Unrealized loss on hedges arising during the period	(25,259)	(37,364)	(16,847)
Reclassification adjustments for loss included in net income (loss)	13,659	3,365	1,476
Reclassification adjustments for loss from derivatives de-designated as cash flow hedges included in net income	18,014	0	0
Income taxes on unrealized loss on hedges	(2,214)	11,899	5,380
Unrealized gain (loss) on hedges, net of tax	4,200	(22,100)	(9,991)
Foreign currency translation gain (loss)	(12,849)	(19,464)	4,970
Other comprehensive loss, net of tax	(8,649)	(41,564)	(5,021)
Comprehensive income (loss)	(385,629)	153,986	108,028
Less comprehensive income applicable to noncontrolling interests	0	(503)	(3,127)
Comprehensive income (loss) applicable to common shareholders	$ (385,629)	$ 153,483	$ 104,901

Consolidated Statements of Shareholders' Equity - USD ($) $ in Thousands	Total	Total Controlling Interest Shareholders' Equity [Member]	Common Stock [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Noncontrolling Interest [Member]
Balance, beginning of period at Dec. 31, 2012	$ 1,419,414	$ 1,393,385	$ 932,742	$ 476,310	$ (15,667)	$ 26,029
Balance, beginning of period (in shares) at Dec. 31, 2012			105,763,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	113,049	109,922		109,922		3,127
Foreign currency translation adjustments	4,970	4,970			4,970
Unrealized gain (loss) on hedges, net	(9,991)	(9,991)			(9,991)
Distributions to noncontrolling interests	(4,097)					(4,097)
Equity component of debt discount on Convertible Senior Notes due 2032	49	49	$ 49
Stock compensation expense	7,510	7,510	7,510
Stock repurchases	(8,855)	(8,855)	$ (8,855)
Stock repurchases (in shares)			(390,000)
Activity in company stock plans, net and other	1,842	1,842	$ 1,842
Activity in company stock plans, net and other (in shares)			267,000
Excess tax from stock-based compensation	219	219	$ 219
Balance, end of period at Dec. 31, 2013	1,524,110	1,499,051	$ 933,507	586,232	(20,688)	25,059
Balance, end of period (in shares) at Dec. 31, 2013			105,640,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	195,550	195,047		195,047		503
Foreign currency translation adjustments	(19,464)	(19,464)			(19,464)
Unrealized gain (loss) on hedges, net	(22,100)	(22,100)			(22,100)
Distributions to noncontrolling interests	(1,018)					(1,018)
Acquisition of noncontrolling interests	(21,646)	2,898	$ 2,898			(24,544)
Stock compensation expense	2,176	2,176	2,176
Stock repurchases	(7,698)	(7,698)	$ (7,698)
Stock repurchases (in shares)			(321,000)
Activity in company stock plans, net and other	3,496	3,496	$ 3,496
Activity in company stock plans, net and other (in shares)			267,000
Excess tax from stock-based compensation	68	68	$ 68
Balance, end of period at Dec. 31, 2014	1,653,474	1,653,474	$ 934,447	781,279	(62,252)	0
Balance, end of period (in shares) at Dec. 31, 2014			105,586,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(376,980)	(376,980)		(376,980)
Foreign currency translation adjustments	(12,849)	(12,849)			(12,849)
Unrealized gain (loss) on hedges, net	4,200	4,200			4,200
Stock compensation expense	5,463	5,463	$ 5,463
Cumulative stock compensation expense in excess of fair value of modified liability awards	$ 2,915	2,915	2,915
Stock repurchases (in shares)	(3,589,425)
Activity in company stock plans, net and other	$ 3,443	3,443	$ 3,443
Activity in company stock plans, net and other (in shares)			703,000
Excess tax from stock-based compensation	(703)	(703)	$ (703)
Balance, end of period at Dec. 31, 2015	$ 1,278,963	$ 1,278,963	$ 945,565	$ 404,299	$ (70,901)	$ 0
Balance, end of period (in shares) at Dec. 31, 2015			106,289,000

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Cash flows from operating activities:
Net income (loss), including noncontrolling interests	$ (376,980)	$ 195,550	$ 113,049
Adjustments to reconcile net income (loss), including noncontrolling interests, to net cash provided by operating activities:
Income from discontinued operations, net of tax	0	0	(1,073)
Depreciation and amortization	120,401	109,345	98,535
Non-cash impairment charges	361,409	0	0
Amortization of deferred financing costs	5,664	4,870	5,187
Stock-based compensation expense	6,543	3,133	8,307
Amortization of debt discount	5,957	5,596	5,172
Deferred income taxes	(103,022)	23,154	(24,937)
Excess tax benefit from stock-based compensation	0	(68)	(219)
Equity in losses of investments	124,345	0	0
Gain on disposition of assets, net	(92)	(10,240)	(14,727)
Loss on early extinguishment of debt	0	0	12,100
Unrealized losses and ineffectiveness on derivative contracts, net	18,281	1,320	77
Changes in operating assets and liabilities:
Accounts receivable, net	36,354	43,963	(3,320)
Other current assets	7,956	(6,461)	14,277
Income tax payable	(7,464)	9,088	(56,164)
Accounts payable and accrued liabilities	(63,817)	12,841	(32,045)
Oil and gas asset retirement costs	0	(1,024)	(10,334)
Other non-current, net	(24,730)	(31,582)	(9,024)
Net cash provided by operating activities	110,805	359,485	104,861
Net cash used in discontinued operations	0	0	(30,503)
Net cash provided by operating activities	110,805	359,485	74,358
Cash flows from investing activities:
Capital expenditures	(320,311)	(336,912)	(324,426)
Distributions from equity investments, net of earnings	7,000	7,911	9,295
Proceeds from sale of assets	17,592	13,574	189,054
Acquisition of noncontrolling interests	0	(20,085)	0
Net cash used in investing activities	(295,719)	(335,512)	(126,077)
Net cash provided by discontinued operations	0	0	582,965
Net cash provided by (used in) investing activities	(295,719)	(335,512)	456,888
Cash flows from financing activities:
Early extinguishment of Senior Unsecured Notes	0	0	(281,490)
Borrowings under revolving credit facility	0	0	47,617
Repayment of revolving credit facility	0	0	(147,617)
Repurchase of Convertible Senior Notes due 2025	0	0	(3,487)
Proceeds from Nordea Q5000 Loan	250,000	0	0
Repayment of Nordea Q5000 Loan	(17,857)	0	0
Proceeds from Term Loan	0	0	300,000
Repayment of term loans	(22,500)	(15,000)	(374,681)
Repayment of MARAD borrowings	(5,644)	(5,376)	(5,120)
Deferred financing costs	(1,737)	(3,586)	(10,954)
Distributions to noncontrolling interests	0	(1,018)	(4,097)
Repurchases of common stock	(1,121)	(8,382)	(11,256)
Excess tax benefit from stock-based compensation	0	68	219
Exercise of stock options, net and other	0	0	734
Proceeds from issuance of ESPP shares	3,484	3,223	2,711
Net cash provided by (used in) financing activities	204,625	(30,071)	(487,421)
Effect of exchange rate changes on cash and cash equivalents	(2,011)	4,390	(2,725)
Net increase (decrease) in cash and cash equivalents	17,700	(1,708)	41,100
Cash and cash equivalents:
Balance, beginning of year	476,492	478,200	437,100
Balance, end of year	$ 494,192	$ 476,492	$ 478,200

Organization	12 Months Ended
Organization	Dec. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	Organization Unless the context indicates otherwise, the terms “we,” “us” and “our” in this Annual Report refer collectively to Helix Energy Solutions Group, Inc. and its subsidiaries (“Helix” or the “Company”). 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 provide services primarily in deepwater in the U.S. Gulf of Mexico, North Sea, Asia Pacific and West Africa regions, and are expanding our operations offshore Brazil. Our Operations We seek to provide services and methodologies that we believe are critical to developing offshore reservoirs and maximizing production economics. Our “life of field” services are segregated into three reportable business segments: Well Intervention, Robotics and Production Facilities (Note 13). Our Subsea Construction results diminished following the sale in 2013 and early 2014 of essentially all of our assets related to this previously reported business segment. 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 segment also includes intervention riser systems (“IRSs”), some of which we rent out on a stand-alone basis, and subsea intervention lubricators (“SILs”). Our well intervention vessels include the Q4000, the Q5000, the Well Enhancer, the Seawell, the Helix 534 and the Skandi Constructor, which is a chartered vessel. The Q5000, a newbuild semi-submersible well intervention vessel, commenced operations in the Gulf of Mexico during the fourth quarter of 2015. We currently have under construction another semi-submersible well intervention vessel, the Q7000. We have also contracted to charter the Siem Helix I and the Siem Helix II, two newbuild monohull vessels to be used in connection with our contracts to provide well intervention services offshore Brazil. Our Robotics segment includes remotely operated vehicles (“ROVs”), trenchers and ROVDrills designed to complement offshore construction and well intervention services, and currently operates four chartered ROV support vessels including the Grand Canyon II, which was delivered to us in April 2015. Our Production Facilities segment includes the Helix Producer I (the “HP I”), a ship-shaped dynamic positioning floating production unit vessel, and the Helix Fast Response System (the “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. The Production Facilities segment also includes our ownership interest in Independence Hub, LLC (“Independence Hub”). We previously had an ownership interest in Deepwater Gateway, L.L.C. (“Deepwater Gateway”), which we sold for $25 million in February 2016 (Note 5). Discontinued Operations In February 2013, we sold Energy Resource Technology GOM, Inc. (“ERT”), a former wholly-owned U.S. subsidiary that conducted our oil and gas operations in the Gulf of Mexico, for $624 million plus additional consideration in the form of overriding royalty interests in ERT’s Wang well and certain exploration prospects. As a result, we have presented the historical operating results of our former Oil and Gas segment as discontinued operations in the accompanying consolidated financial statements. Results for 2013 reflect the operating results from January 1, 2013 through February 6, 2013 when ERT was sold. There were no material results of operations for our former oil and gas segment subsequent to the sale of ERT.

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2015

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Principles of Consolidation

Our consolidated financial statements include the accounts of majority owned subsidiaries. The equity method is used to account for investments in affiliates in which we do not have majority ownership, but have the ability to exert significant influence. We account for our former ownership interest in Deepwater Gateway and our ownership interest in Independence Hub under the equity method of accounting. Noncontrolling interests represent the minority shareholders’ proportionate share of the equity in Kommandor LLC, a Delaware limited liability company formed for the purpose of converting a ferry vessel into the HP I. In February 2014, we acquired our former minority partner’s noncontrolling interests (approximately 19%) in Kommandor LLC for $20.1 million. The consolidated results of Kommandor LLC are included in our Production Facilities segment. All material intercompany accounts and transactions have been eliminated.

Basis of Presentation

Our consolidated financial statements have been prepared in conformity with U.S. generally accepted accounting principles (“U.S. GAAP”). 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. We have made all adjustments (which were normal recurring adjustments) that we believe are necessary for a fair presentation of our consolidated financial statements, as applicable.

Use of Estimates

The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results may differ from those estimates.

Cash and Cash Equivalents

Cash and cash equivalents are highly liquid financial instruments with original maturities of three months or less. They are carried at cost plus accrued interest, which approximates fair value.

Accounts and Notes Receivable and Allowance for Uncollectible Accounts

Accounts and notes receivable are stated at the historical carrying amount net of write-offs and allowance for uncollectible accounts. The amount of our net accounts receivable and our note receivable approximates fair value. We establish an allowance for uncollectible accounts based on historical experience as well as any specific collection issues that we have identified. Uncollectible receivables are written off when a settlement is reached for an amount that is less than the outstanding historical balance or when we have determined that the balance will definitively not be collected (Note 16).

Property and Equipment

Property and equipment is recorded at cost. Property and equipment is depreciated on a straight line basis over the estimated useful life of each asset. The cost of improvements is capitalized while the cost of repairs and maintenance is charged to expense as incurred. For the years ended December 31, 2015, 2014 and 2013, repair and maintenance expense totaled $32.8 million, $44.6 million and $31.5 million, respectively.

Assets used in operations are assessed for impairment whenever changes in facts and circumstances indicate that the carrying amount of an asset or asset group may not be recoverable because such carrying amount may exceed the asset’s or asset group’s fair value. If, upon review, the sum of undiscounted future cash flows expected to be generated by the asset or asset group is less than its carrying amount, an impairment is recorded. The amount of the impairment recorded is calculated as the difference between the carrying amount of the asset or asset group and its estimated fair value. Individual assets are grouped for impairment purposes at the lowest level where there are identifiable cash flows that are largely independent of the cash flows of other groups of assets. The expected future cash flows used for impairment reviews and related fair value calculations are based on assessments of operating costs, project margins and capital project decisions, considering all available information at the date of review. The fair value of impaired assets is typically determined based on the present values of expected future cash flows using discount rates believed to be consistent with those used by principal market participants or based on a multiple of operating cash flows validated with historical market transactions of similar assets where possible. These fair value measurements fall within Level 3 of the fair value hierarchy.

Assets are classified as held for sale when a formal plan to dispose of the assets exists and those assets meet the held for sale criteria. Assets held for sale are reviewed for potential loss on sale when we commit to a plan to sell and thereafter while those assets are held for sale. Losses are measured as the difference between an asset’s fair value less costs to sell and the asset’s carrying amount. Estimates of anticipated sales prices are judgmental and subject to revision in future periods, although initial estimates are typically based on sales prices for similar assets and other valuation data.

Capitalized Interest

Interest from external borrowings is capitalized on major projects until the assets are ready for their intended use. Capitalized interest is added to the cost of the underlying asset and is amortized over the useful life of the asset in the same manner as the underlying asset. Capitalized interest is a component of our net interest expense (Note 7).

Equity Investments

We periodically review our equity investments for impairment. Under the equity method of accounting, an impairment loss would be recorded whenever the fair value of an equity investment is determined to be below its carrying amount and the reduction is considered to be other than temporary. In judging “other than temporary,” we consider the length of time and extent to which the fair value of the investment has been less than the carrying amount of the equity investment, the near-term and long-term operating and financial prospects of the entity and our longer-term intent of retaining our investment in the entity.

In the event we incur losses in excess of the carrying amount of an equity investment and reduce our investment balance to zero, we would not record additional losses unless (i) we guaranteed obligations of the investee, (ii) we are otherwise committed to provide further financial support for the investee, or (iii) it is anticipated that the investee’s return to profitability is imminent. If we provided a commitment to fund losses, we would continue to record losses resulting in a negative equity method investment, which is presented as a liability.

Goodwill

We are required to perform an annual impairment analysis of goodwill. We elected November 1 to be our annual impairment assessment date for goodwill. However, we could be required to evaluate the recoverability of goodwill prior to the annual assessment date if we experience disruption to the business, unexpected significant declines in operating results, divestiture of a significant component of the business, emergence of unanticipated competition, loss of key personnel or a sustained decline in market capitalization. At the time of our annual assessment of goodwill on November 1, 2015, we had two reporting units with goodwill.

We first assess qualitative factors in order to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount, including goodwill. Some of the qualitative factors evaluated include, among other things, the results of the most recent impairment analysis, the most recent operating results of the reporting unit, the current outlook for the reporting unit, and the current conditions of the market in which the reporting unit operates. If the qualitative assessment indicates a potential impairment, we perform the first step of the goodwill impairment analysis as described below. Our policy is to bypass the qualitative assessment at least once every three years and perform the first step of the goodwill impairment analysis, which was planned for November 1, 2016. However, we elected to perform the first step of the goodwill impairment analysis on November 1, 2015 given the current oil and gas industry downturn and the sharp decline in our stock price.

The goodwill impairment analysis is a two-step process. The first step is to identify whether a potential impairment exists by comparing the fair value of the reporting unit with its carrying amount, including goodwill. If the fair value of a reporting unit exceeds its carrying amount, goodwill of the reporting unit is not considered to have a potential impairment and the second step of the impairment analysis is not necessary. However, if the carrying amount of a reporting unit exceeds its fair value, the second step is performed to determine if goodwill is impaired and to measure the amount of impairment loss to recognize, if any.

The second step compares the implied fair value of goodwill with the carrying amount of goodwill. If the implied fair value of goodwill exceeds the carrying amount, then goodwill is not considered impaired. However, if the carrying amount of goodwill exceeds the implied fair value, an impairment loss is recognized in an amount equal to that excess. The implied fair value of goodwill is determined in the same manner as the amount of goodwill recognized in a business combination (i.e., the fair value of the reporting unit is allocated to all the assets and liabilities, including any unrecognized intangible assets, as if the reporting unit were acquired in a business combination).

We use both the income approach and the market approach to estimate the fair value of our reporting units under the first step of our goodwill impairment analysis. Under the income approach, a discounted cash flow analysis is performed requiring us to make various judgmental assumptions about future revenue, operating margins, growth rates and discount rates. These judgmental assumptions are based on our budgets, long-term business plans, economic projections, anticipated future cash flows and market place data. Under the market approach, the fair value of each reporting unit is calculated by applying an average peer total invested capital EBITDA (defined as earnings before interest, income taxes and depreciation and amortization) multiple to the upcoming fiscal year’s forecasted EBITDA for each reporting unit. Judgment is required when selecting peer companies that operate in the same or similar lines of business and are potentially subject to the same economic risks. We also perform a market capitalization reconciliation by comparing the fair value of equity (fair value of total invested capital less fair value of total debt) to market capitalization and evaluate the reasonableness of the implied equity premium.

Our goodwill at December 31, 2015, 2014 and 2013 was associated with our Well Intervention and Robotics segments. As a result of our 2015 goodwill impairment analysis, we recorded an impairment charge of $16.4 million to write off the goodwill associated with our U.K. well intervention reporting unit. The fair value of our robotics reporting unit exceeded the carrying amount of goodwill based on the first step of the impairment analysis and no impairment was recorded. In 2014, we performed the qualitative assessment as described above and concluded that there was no indication of goodwill impairment. In our 2013 goodwill impairment analysis, the fair values of both of our reporting units with goodwill exceeded their respective carrying amounts based on the first step of the impairment analysis. We did not record any amount of goodwill impairment in 2014 or 2013.

Recertification Costs and Deferred Dry Dock Charges

Our vessels are required by regulation to be periodically recertified. Recertification costs are incurred while a vessel is in dry dock. In addition, routine repairs and maintenance are performed and at times, major replacements and improvements are performed. We expense routine repairs and maintenance costs as they are incurred. We defer and amortize dry dock and related recertification costs over the length of time for which we expect to receive benefits from the dry dock and related recertification, which is generally 30 months but can be as long as 60 months if the appropriate permitting is obtained. A dry dock and related recertification process typically lasts one to two months, a period during which the vessel is idle and generally not available to earn revenue. Major replacements and improvements that extend the vessel’s economic useful life or functional operating capability are capitalized and depreciated over the vessel’s remaining economic useful life.

As of December 31, 2015 and 2014, capitalized deferred dry dock charges included within “Other assets, net” in the accompanying consolidated balance sheets (Note 3) totaled $19.6 million and $11.6 million (net of accumulated amortization of $18.3 million and $7.5 million), respectively. During the years ended December 31, 2015, 2014 and 2013, dry dock amortization expense was $10.8 million, $14.1 million and $14.8 million, respectively.

Revenue Recognition

Revenues from our services are derived from contracts, which are both short-term and long-term in duration. Our long-term services contracts are contracts that contain either lump-sum provisions or provisions for specific time, material and equipment charges, which are billed in accordance with the terms of such contracts. We recognize revenue as it is earned at estimated collectible amounts. Further, we record revenues net of taxes collected from customers and remitted to governmental authorities.

Unbilled revenue represents revenue attributable to work completed prior to period end that has not yet been invoiced. All amounts included in unbilled revenue are expected to be billed and collected within one year. However, we also monitor the collectability of our outstanding trade receivables on a continual basis in connection with our evaluation of allowance for doubtful accounts.

Dayrate Contracts. Revenues generated from specific time, material and equipment contracts are generally earned on a dayrate basis and recognized as amounts are earned in accordance with contract terms. Certain dayrate contracts with built-in rate changes require us to record revenues on a straight-line basis. We may receive revenues for mobilization of equipment and personnel under dayrate contracts. Revenues related to mobilization are deferred and recognized over the period in which contracted services are performed using the straight-line method. Incremental costs incurred directly for mobilization of equipment and personnel to the contracted site, which typically consist of materials, supplies and transit costs, also are deferred and recognized using the same straight line method. Our policy to amortize the revenues and costs related to mobilization on a straight-line basis over the estimated contract service period is consistent with the general pace of activity, level of services being provided and dayrates being earned over the contract period. Mobilization costs to move vessels when a contract does not exist are expensed as incurred.

Lump Sum Contracts. Revenue on significant lump sum contracts is recognized under the percentage-of-completion method based on the ratio of costs incurred to total estimated costs at completion. In determining whether a contract should be accounted for using the percentage-of-completion method, we consider whether:


•	the customer provides specifications for the provision of services;


•	we can reasonably estimate our progress towards completion and our costs;


•	the contract includes provisions for enforceable rights regarding the goods or services to be provided, consideration to be received, and the manner and terms of payment;


•	the customer can be expected to satisfy its obligations under the contract; and


•	we can be expected to perform our contractual obligations.

Under the percentage-of-completion method, we recognize estimated contract revenue based on costs incurred to date as a percentage of total estimated costs. Changes in the expected cost of materials and labor, productivity, scheduling and other factors affect the total estimated costs. Additionally, weather and other external factors outside of our control may affect the progress and estimated cost of a project’s completion, and therefore the timing of revenue recognition. We routinely review estimates related to our contracts and reflect revisions to profitability in earnings on a current basis. If a current estimate of total contract cost indicates an ultimate loss on a contract, we recognize the projected loss in full when it is first determined. We recognize additional contract revenue related to claims when the claim is probable and legally enforceable.

Revenue from Royalty Interests

Revenues from royalty interests are recognized according to monthly oil and gas production on an entitlement basis. Revenues for royalty interests are reflected in “Other income - oil and gas” in the accompanying consolidated statements of operations.

Income Taxes

Deferred income taxes are based on the differences between financial reporting and tax bases of assets and liabilities. We utilize the liability method of computing deferred income taxes. The liability method is based on the amount of current and future taxes payable using tax rates and laws in effect at the balance sheet date. Income taxes have been provided based upon the tax laws and rates in the countries in which operations are conducted and income is earned. A valuation allowance for deferred tax assets is recorded when it is more likely than not that some or all of the benefit from the deferred tax asset will not be realized. We consider the undistributed earnings of our non-U.S. subsidiaries without operations in the U.S. to be permanently reinvested.

It is our policy to provide for uncertain tax positions and the related interest and penalties based upon management’s assessment of whether a tax benefit is more likely than not to be sustained upon examination by tax authorities. At December 31, 2015, we believe that we have appropriately accounted for any unrecognized tax benefits. To the extent we prevail in matters for which a liability for an unrecognized tax benefit is established or are required to pay amounts in excess of the liability, our effective tax rate in a given financial statement period may be affected.

Stock-Based Compensation

Stock-based compensation cost is measured at the grant date based on the estimated fair value of the award. Stock-based compensation based solely on service conditions is recognized on a straight-line basis over the vesting period of the related shares. Tax deduction benefits for a stock-based award in excess of recognized compensation cost is reported as a financing cash flow rather than as an operating cash flow.

Compensation cost for restricted stock is the product of grant date fair value of each share and the number of shares granted and is recognized over the respective vesting periods on a straight-line basis.

The estimated fair value of performance share units (“PSUs”) is determined using a Monte Carlo simulation model. Compensation cost for PSUs that are accounted for as equity awards is measured based on the estimated grant date fair value and recognized over the vesting period on a straight-line basis. Unvested PSUs that are accounted for as liability awards are measured based on the estimated fair value at the balance sheet date and changes in fair value of the awards are recognized in earnings. Cumulative compensation cost for vested PSUs equals the actual cash payout amount upon vesting. To the extent the recognized fair value of the modified liability awards is less than the compensation cost associated with the grant date fair value of the original equity awards at the end of a reporting period, the higher amount is recorded as stock-based compensation expense. The amount of cumulative compensation expense recognized in excess of the fair value of the modified liability awards is recorded in equity.

Foreign Currency

Because we operate in various regions around the world, we conduct a portion of our business in currencies other than the U.S. dollar (primarily with respect to our North Sea operations). Results of operations for our non-U.S. subsidiaries are translated into U.S. dollars using average exchange rates during the period. Assets and liabilities of these foreign subsidiaries are translated into U.S. dollars using the exchange rate in effect at December 31, 2015 and 2014 and the resulting translation adjustments, which were unrealized losses of $12.8 million and $19.5 million, respectively, are included in “Accumulated other comprehensive loss” (“Accumulated OCI”), a component of shareholders’ equity.

For the years ended December 31, 2015, 2014 and 2013, our foreign currency transaction gains (losses) totaled $(1.2) million, $2.5 million and $0.7 million, respectively. These realized amounts are exclusive of any gains or losses from our foreign currency exchange derivative contracts. All foreign currency transaction gains and losses are recognized currently in the consolidated statements of operations.

Derivative Instruments and Hedging Activities

Our business is exposed to market risks 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. To reduce the impact of these risks on earnings and increase the predictability of our cash flows, from time to time we enter into certain derivative contracts, including interest rate swaps and foreign currency exchange contracts. All derivatives are reflected in the accompanying consolidated balance sheets at fair value.

We formally document all relationships between hedging instruments and the related hedged items, as well as our risk management objectives, strategies for undertaking various hedge transactions and our methods for assessing and testing correlation and hedge ineffectiveness. All hedging instruments are linked to the hedged asset, liability, firm commitment or forecasted transaction. We also assess, both at the inception of the hedge and on an on-going basis, whether the derivatives that are designated as hedges are highly effective in offsetting changes in cash flows of the hedged items. We discontinue hedge accounting if we determine that a derivative is no longer highly effective as a hedge, or it is probable that a hedged transaction will not occur. If hedge accounting is discontinued because it is probable the hedged transaction will not occur, deferred gains or losses on the hedging instruments are recognized in earnings immediately. If the forecasted transaction continues to be probable of occurring, any deferred gains or losses in Accumulated OCI are amortized to earnings over the remaining period of the original forecasted transaction.

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. The fair value of our interest rate swaps is calculated as the discounted cash flows of the difference between the rate fixed by the hedge instrument and the LIBOR forward curve over the remaining term of the hedge instrument. The fair value of our foreign currency exchange contracts is calculated as the discounted cash flows of the difference between the fixed payment specified by the hedge instrument and the expected cash inflow of the forecasted transaction using a foreign currency forward curve. 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 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.

Interest Rate Risk

From time to time, we enter into interest rate swaps to stabilize cash flows related to our long-term variable interest rate debt. Changes in the fair value of interest rate swaps are deferred to the extent the swaps are effective. These changes are recorded as a component of Accumulated OCI until the anticipated interest is recognized as interest expense. The ineffective portion of the interest rate swaps, 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.

Foreign Currency Exchange Rate Risk

Because we operate in various regions around the world, we conduct a portion of our business in currencies other than the U.S. dollar. We enter into foreign currency exchange contracts from time to time to stabilize expected cash outflows related to our vessel charters that are denominated in foreign currencies.

See Note 18 for more information regarding our derivative contracts including our oil and gas commodity contracts associated with ERT.

Earnings Per Share

The presentation of basic earnings per share (“EPS”) amounts on the face of the accompanying 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. 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 of restricted stock 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 EPS amounts under the two class method in periods in which we have earnings from continuing operations. For periods in which we have a net loss, we do not use the two class method as holders of our restricted shares are not contractually obligated to share in such losses.

Major Customers and Concentration of Credit Risk

The market for our products and services is primarily the offshore oil and gas and renewable industries. Oil and gas companies spend capital on exploration, drilling and production operations, the amount of which is generally dependent on the prevailing view of future oil and gas prices which are subject to many external factors that may contribute to significant volatility. Our customers consist primarily of major and independent oil and gas producers and suppliers, pipeline transmission companies, alternative (renewable) energy companies and offshore engineering and construction firms. We perform ongoing credit evaluations of our customers and provide allowances for probable credit losses when necessary. The percent of consolidated revenue from major customers (those representing 10% or more of our consolidated revenues) is as follows: 2015 — Shell (16%) and Talos (11%), 2014 — Anadarko (13%) and 2013 — Shell (14%). Most of the concentration of revenues was generated by our Well Intervention business.

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 described in Note 17.

Asset Retirement Obligations

Pursuant to the terms of the ERT sale transaction, we retained the reclamation obligations associated with one property located in the Gulf of Mexico. During 2013, we paid $5.2 million for our pro-rata share of the costs to complete the reclamation of this property. For the year ended December 31, 2014, we recorded a $7.2 million insurance reimbursement related to asset retirement work previously performed on this property.

New Accounting Standards

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. This revenue standard was originally effective prospectively for annual reporting periods beginning after December 15, 2016, including interim periods. In August 2015, the FASB issued ASU No. 2015-14 to defer the effective date of ASU No. 2014-09 by one year to annual reporting periods beginning after December 15, 2017. Adoption as of the original effective date is 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 our existing revenue recognition policies to determine which types of contracts are within the scope of this guidance and what impact the adoption of this standard may have on our consolidated financial statements. We have not yet determined if we will apply the full retrospective or the modified retrospective method.

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. The guidance is effective retrospectively beginning in the first quarter of fiscal 2017 and early adoption is permitted. In August 2015, the FASB issued ASU No. 2015-15, “Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements.” This ASU includes an SEC staff announcement that the SEC staff will not object to an entity presenting the cost of securing a revolving line of credit as an asset, regardless of whether a balance is outstanding. The subject of this ASU was not previously addressed by ASU No. 2015-03. We do not expect these two ASUs to materially affect our balance sheets as amounts will be reclassified from long-term assets to partial offsets to long-term debt. The guidance will not affect our statements of operations or statements of cash flows.

In July 2015, the FASB issued ASU No. 2015-11, “Simplifying the Measurement of Inventory.” This ASU requires inventory that is measured using first-in, first-out or average cost method to be recorded at the lower of cost and net realizable value. The guidance is effective prospectively for annual reporting periods beginning after December 15, 2016, including interim periods. Early adoption is permitted. We do not expect this guidance to materially affect our consolidated financial statements.

In November 2015, the FASB issued ASU No. 2015-17, “Balance Sheet Classification of Deferred Taxes.” This ASU requires companies to classify all deferred tax assets and liabilities as non-current on the balance sheet instead of separating deferred taxes into current and non-current amounts. The current requirement that deferred tax liabilities and assets of a tax-paying component of an entity be offset and presented as a single amount is not affected by this guidance. The guidance is effective prospectively for annual reporting periods beginning after December 15, 2016, including interim periods. Early adoption is permitted. We do not expect this guidance to materially affect our consolidated financial statements.

We do not expect any other recent accounting standards to have a material impact on our financial position, results of operations or cash flows.

Details of Certain Accounts

12 Months Ended

Dec. 31, 2015

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Details of Certain Accounts

Other current assets consist of the following (in thousands):



	December 31,
	2015		2014

Note receivable (Note 4)	$	10,000	$	17,500
Other receivables	426		423
Prepaid insurance	5,433		6,582
Other prepaids	10,751		15,541
Spare parts inventory	4,985		1,857
Value added tax receivable	7,842		9,326
Other	81		72
Total other current assets	$	39,518	$	51,301

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



	December 31,
	2015		2014

Note receivable (Note 4)	$	—	$	10,000
Deferred dry dock expenses, net (Note 2)	19,615		11,631
Deferred financing costs, net (Note 7)	19,856		23,399
Intangible assets with finite lives, net	781		696
Charter fee deposit (Note 14)	12,544		12,544
Other	805		1,002
Total other assets, net	$	53,601	$	59,272

Accrued liabilities consisted of the following (in thousands):



	December 31,
	2015		2014

Accrued payroll and related benefits	$	14,775	$	61,246
Current asset retirement obligations	553		575
Unearned revenue	12,841		11,461
Accrued interest	4,854		4,221
Derivative liability (Note 18)	23,192		13,222
Taxes payable excluding income tax payable	8,136		6,236
Other	7,290		7,962
Total accrued liabilities	$	71,641	$	104,923

Other non-current liabilities consisted of the following (in thousands):



	December 31,
	2015		2014

Loss in excess of equity investment (Note 5)	$	8,308	$	—
Derivative liability (Note 18)	39,709		37,767
Other	3,398		341
Total other non-current liabilities	$	51,415	$	38,108

Property and Equipment

12 Months Ended

Dec. 31, 2015

Property, Plant and Equipment [Abstract]

Property and Equipment

The following is a summary of the gross components of property and equipment (dollars in thousands):



		December 31,
	Estimated Useful Life	2015		2014

Vessels	15 to 30 years	$	1,944,753	$	1,657,448
ROVs, trenchers and ROVDrills	10 years	311,971		310,841
Machinery, equipment, buildings and leasehold improvements	5 to 30 years	288,133		273,155
Total property and equipment		$	2,544,857	$	2,241,444

In 2012, we entered into an agreement to sell our two remaining subsea construction pipelay vessels, the Caesar and the Express, and related pipelay equipment. In June 2013, we completed the sale of the Caesar and related equipment for $138.3 million and recorded a loss on disposal of $1.1 million. In July 2013, we completed the sale of the Express for $100 million, which resulted in a gain on disposal of $15.6 million.

In January 2014, we sold our spoolbase located in Ingleside, Texas for $45 million. In connection with this sale, we received $15 million in cash and a $30 million secured promissory note. Interest on the note is payable quarterly at a rate of 6% per annum. We received $2.5 million, $7.5 million and $10 million of principal payments on this note in December 2014, January 2015 and December 2015, respectively. Under the terms of the note, the remaining $10 million principal balance is required to be paid on December 31, 2016.

Our assessment at December 31, 2015 indicated impairment on the Helix 534 and the HP I. We impaired these assets based on the difference between the carrying amount and the estimated fair value. The fair value of the Helix 534 was based on its estimated salvage value according to current market pricing. We recorded an impairment charge of $205.2 million to reduce the carrying amount of the Helix 534 to its estimated fair value of $1.0 million and to write off deferred dry dock costs of $9.0 million associated with the Helix 534. We estimated the fair value of the HP I based on the present value of its expected future cash flows. We recorded an impairment charge of $133.4 million to reduce the carrying amount of the HP I to its estimated fair value of $124.3 million. In addition, we recorded impairment charges of $6.3 million to write off capitalized costs associated with certain vessel projects that we no longer expect to materialize.

In January 2016, we sold our office and warehouse property located in Aberdeen, Scotland for approximately $11 million. At the same time, we entered into a separate agreement to lease back the facility for 15 years with two five-year options to extend the lease.

Equity Investments

12 Months Ended

Dec. 31, 2015

Equity Method Investments and Joint Ventures [Abstract]

Equity Investments

As of December 31, 2015, we had ownership interests in 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 $26.2 million and $80.9 million as of December 31, 2015 and 2014, respectively (including net capitalized interest of $1.2 million as of December 31, 2014). For the year ended December 31, 2015, we recorded losses totaling $49.4 million to account for our 50% share of losses from Deepwater Gateway and to write off the remaining capitalized interest of $1.2 million. These losses included our share of an impairment charge that Deepwater Gateway recorded in December 2015 (see below).

Independence Hub, LLC. In December 2004, we acquired a 20% interest in Independence Hub, an affiliate of Enterprise. In connection with the acquisition, we paid a $1.0 million participation fee. Independence Hub owns the “Independence Hub” platform located in Mississippi Canyon Block 920 in a water depth of 8,000 feet. As of December 31, 2014, our investment in Independence Hub was $68.8 million (including net capitalized interest of $3.9 million). As of December 31, 2015, our share of the losses reported by Independence Hub exceeded the carrying amount of our investment by $8.3 million. This liability is reflected in “Other non-current liabilities” in the accompanying consolidated balance sheet. For the year ended December 31, 2015, we recorded losses totaling $74.9 million to account for our 20% share of losses from Independence Hub and to write off the $1.0 million participation fee and the remaining capitalized interest of $3.6 million. These losses included our share of an impairment charge that Independence Hub recorded in December 2015 (see below).

In July 2015, Enterprise sold its offshore Gulf of Mexico pipelines and services business to Genesis Energy, L.P. (“Genesis”) for approximately $1.5 billion. Enterprise’s ownership interests in both Deepwater Gateway and Independence Hub were included in the sale. In December 2015, we were notified by Genesis that the operator of the facility no longer forecasted utilization of the “Independence Hub” platform and planned to turn over the platform for decommissioning. In December 2015, Independence Hub recorded an impairment charge of $343.3 million to reduce the carrying amount of the platform assets to their estimated fair value of zero. Independence Hub’s estimated asset retirement obligations as of December 31, 2015 amounted to $42.1 million reflecting the estimated costs to decommission the platform. Since we are committed to providing the necessary level of financial support to enable Independence Hub to pay its obligations as they become due, we recorded a liability of $8.3 million for our share of the estimated obligations, net of remaining working capital. Additionally in December 2015, Deepwater Gateway recorded an impairment charge of $96.7 million to reduce the carrying amount of its long-lived assets to their estimated fair value of $70.8 million. Deepwater Gateway’s estimated asset retirement obligations as of December 31, 2015 amounted to $20.8 million. In February 2016, we received a cash distribution of $1.2 million and sold our ownership interest in Deepwater Gateway to a subsidiary of Genesis for $25 million.

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



	Year Ended December 31,
	2015		2014		2013

Deepwater Gateway	$	5,200	$	6,150	$	7,600
Independence Hub	1,800		2,640		4,660
Total	$	7,000	$	8,790	$	12,260

The summarized aggregated financial information related to our equity method investments is as follows (in thousands):



	Year Ended December 31,
	2015			2014		2013

Revenues	$	14,791		$	23,284	$	32,943
Operating income (loss)	(448,138		)	411		10,058
Net income (loss)	(448,138		)	411		10,058



	December 31,
	2015		2014

Current assets	$	3,181	$	7,898
Non-current assets	70,812		475,789
Current liabilities	180		50
Non-current liabilities	62,951		5,237

Goodwill

12 Months Ended

Dec. 31, 2015

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

The changes in the carrying amount of goodwill are as follows (in thousands):



	Well Intervention			Robotics		Total
Balance at December 31, 2013	$	18,123		$	45,107	$	63,230
Other adjustments ⁽¹⁾	(1,084		)	—		(1,084		)
Balance at December 31, 2014	17,039			45,107		62,146
Impairment loss	(16,399		)	—		(16,399		)
Other adjustments ⁽¹⁾	(640		)	—		(640		)
Balance at December 31, 2015	$	—		$	45,107	$	45,107


(1)	Reflects foreign currency adjustment related to the goodwill of our U.K. well intervention reporting unit.

Long-Term Debt

12 Months Ended

Dec. 31, 2015

Debt Disclosure [Abstract]

Long-Term Debt

Long-term debt consists of the following (in thousands):



	December 31,
	2015			2014

Term Loan (matures June 2018)	$	255,000		$	277,500
2032 Notes (mature March 2032)	200,000			200,000
MARAD Debt (matures February 2027)	89,148			94,792
Nordea Q5000 Loan (matures April 2020)	232,143			—
Unamortized debt discount	(14,963		)	(20,920		)
Total debt	761,328			551,372
Less current maturities	(71,640		)	(28,144		)
Long-term debt	$	689,688		$	523,228

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 $600 million. Subject to existing lender participation and/or the participation of new lenders, and subject to standard conditions precedent, we may obtain an increase of up to $200 million in aggregate commitments with respect to the Revolving Credit Facility, additional term loans or a combination thereof. As of December 31, 2015, we had no borrowings under the Revolving Credit Facility and our available borrowing capacity under that facility, based on the leverage ratio covenant, totaled $249.4 million, net of $13.2 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 currently bear interest at a per annum rate equal to the base rate plus a margin ranging from 1.00% to 3.00%. The Loans or portions thereof bearing interest at a LIBOR rate currently bear interest at the LIBOR rate selected by us plus a margin ranging from 2.00% to 4.00%. 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 vary in relation to the consolidated coverage ratio, as provided by the Credit Agreement. We currently also pay a fixed commitment fee of 0.50% on the unused portion of our Revolving Credit Facility. The Term Loan currently bears interest at the one-month LIBOR rate plus 2.75%. In September 2013, we entered into various interest rate swap contracts to fix the one-month LIBOR rate on $148.1 million of our borrowings under the Term Loan (Note 18). 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). In January 2016, we amended the Credit Agreement to permit the sale and lease back of certain office and warehouse property located in Aberdeen, Scotland as well as the disposition of that property.

In May 2015 and in February 2016, we amended the Credit Agreement to revise the maximum permitted Consolidated Leverage Ratio as follows:



	Maximum Consolidated Leverage Ratio
Four Fiscal Quarters Ending	May 2015 Amendment		February 2016 Amendment

June 30, 2015	4.00	to 1.00	—
September 30, 2015 through and including March 31, 2016	4.50	to 1.00	5.50	to 1.00
June 30, 2016	4.50	to 1.00	5.25	to 1.00
September 30, 2016 through and including December 31, 2016	4.50	to 1.00	5.00	to 1.00
March 31, 2017	4.00	to 1.00	4.75	to 1.00
June 30, 2017	3.50	to 1.00	4.25	to 1.00
September 30, 2017	3.50	to 1.00	3.75	to 1.00
December 31, 2017 and each fiscal quarter thereafter	3.50	to 1.00	3.50	to 1.00

Also pursuant to the February 2016 amendment to the Credit Agreement,


(a)	The revolving credit facility commitment under the Credit Agreement decreased from $600 million to $400 million.


(b)	The minimum permitted Consolidated Interest Coverage Ratio was revised as follows:



Four Fiscal Quarters Ending	Minimum Consolidated Interest Coverage Ratio

March 31, 2016 through and including September 30, 2016	2.50	to 1.00
December 31, 2016 through and including March 31, 2017	2.75	to 1.00
June 30, 2017 and each fiscal quarter thereafter	3.00	to 1.00


(c)	We are required to maintain minimum cash balances based on Consolidated Leverage Ratio as follows:



Consolidated Leverage Ratio	Minimum Cash

Greater than or equal to 4.50x	$150,000,000.00
Greater than or equal to 4.00x but less than 4.50x	$100,000,000.00
Greater than or equal to 3.50x but less than 4.00x	$50,000,000.00
Less than 3.50x	$0.00

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 (net of cash distributions to the parent) 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, a wholly owned Scottish subsidiary. Our obligations under the Credit Agreement, and of the guarantors under their guaranty, are secured by most of our assets of the parent and our wholly owned domestic subsidiaries (except Cal Dive I – Title XI, Inc.) 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 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 debt 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 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. We recorded $22.5 million related to the carrying amount of the equity component of the 2032 Notes. The remaining unamortized amount of the debt discount of the 2032 Notes was $15.0 million and $20.9 million at December 31, 2015 and 2014, respectively.

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 required by 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 Q5000 Loan”) in an amount of up to $250 million. The Nordea Q5000 Loan was funded in the amount of $250 million in April 2015 at the time the Q5000 vessel was delivered. The parent company of Q5000 Holdings, Helix Vessel Finance S.à r.l., also a wholly owned Luxembourg subsidiary, guaranteed the Nordea Q5000 Loan. The loan is secured by the Q5000 and its charter earnings as well as by a pledge of the shares of Q5000 Holdings. This indebtedness is non-recourse to Helix.

The Nordea Q5000 Loan bears interest at a LIBOR rate plus a margin of 2.5%, with an undrawn fee of 0.875% prior to funding on April 30, 2015. The Nordea Q5000 Loan matures on April 30, 2020 and is repayable in scheduled principal installments of $8.9 million, payable quarterly, with a balloon payment of $80.4 million at maturity. Q5000 Holdings may elect to prepay amounts outstanding under the Nordea Q5000 Loan without premium or penalty, but may not reborrow any amounts prepaid. Installment amounts are subject to adjustment for any prepayments on this debt. In certain circumstances, Q5000 Holdings will be required to prepay the loan. In June 2015, we entered into various interest rate swap contracts to fix the one-month LIBOR rate on $187.5 million of our borrowings under the Nordea Q5000 Loan (Note 18). The fixed LIBOR rates are between 149 and 152 basis points.

The Nordea Credit Agreement and 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 certain minimum financial requirements, including liquidity, consolidated debt service coverage and collateral maintenance. As of December 31, 2015, Q5000 Holdings was in compliance with these covenants.

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 a consolidated leverage ratio, as well as the maintenance of minimum net worth, working capital and debt-to-equity requirements. As of December 31, 2015, we were in compliance with these covenants.

In 2013, we fully repaid the remaining indebtedness outstanding under our former credit facility. In connection with the repayments of this debt, we recorded charges totaling $3.5 million to accelerate a pro rata portion of deferred financing costs associated with the term loan component of the credit facility. This charge is reflected as a component of “Loss on early extinguishment of long-term debt” in the accompanying consolidated statements of operations. Also in 2013, we fully redeemed our former Senior Unsecured Notes. Our 2013 results of operations include a loss on early extinguishment of debt totaling $8.6 million, which reflects a $6.5 million call premium and a $2.1 million charge to accelerate the remaining deferred financing costs associated with the original issuance of the Senior Unsecured Notes.

We paid financing costs associated with our debt totaling $1.7 million in 2015 and $3.6 million in 2014. Unamortized deferred financing costs are included in “Other assets, net” in the accompanying 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):



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

Term Loan (matures June 2018)	$	3,638	$	(1,819	)	$	1,819	$	3,638	$	(1,091	)	$	2,547
Revolving Credit Facility (matures June 2018)	14,787		(6,924		)	7,863		13,275		(3,982		)	9,293
2032 Notes (mature March 2032)	3,759		(2,377		)	1,382		3,759		(1,763		)	1,996
MARAD Debt (matures February 2027)	12,200		(6,711		)	5,489		12,200		(6,223		)	5,977
Nordea Q5000 Loan (matures April 2020)	3,811		(508		)	3,303		3,586		—			3,586
Total deferred financing costs	$	38,195	$	(18,339	)	$	19,856	$	36,458	$	(13,059	)	$	23,399

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



	Term Loan			2032 Notes ⁽¹⁾			MARAD Debt			Nordea Q5000 Loan			Total

Less than one year	$	30,000		$	—		$	5,926		$	35,714		$	71,640
One to two years	30,000			—			6,222			35,715			71,937
Two to three years	195,000			—			6,532			35,714			237,246
Three to four years	—			—			6,858			35,714			42,572
Four to five years	—			—			7,200			89,286			96,486
Over five years	—			200,000			56,410			—			256,410
Total debt	255,000			200,000			89,148			232,143			776,291
Current maturities	(30,000		)	—			(5,926		)	(35,714		)	(71,640		)
Long-term debt, less current maturities	225,000			200,000			83,222			196,429			704,651
Unamortized debt discount ⁽²⁾	—			(14,963		)	—			—			(14,963		)
Long-term debt	$	225,000		$	185,037		$	83,222		$	196,429		$	689,688


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


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

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



	Year Ended December 31,
	2015			2014			2013

Interest expense ⁽¹⁾	$	40,024		$	33,064		$	44,484
Interest income	(2,068		)	(4,786		)	(1,167		)
Capitalized interest	(11,042		)	(10,419		)	(10,419		)
Net interest expense	$	26,914		$	17,859		$	32,898


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

Income Taxes

12 Months Ended

Dec. 31, 2015

Income Tax Disclosure [Abstract]

Income Taxes

We and our subsidiaries file a consolidated U.S. federal income tax return. 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.

Components of income tax provision (benefit) on continuing operations reflected in the consolidated statements of operations consist of the following (in thousands):



	Year Ended December 31,
	2015			2014		2013

Current	$	1,832		$	43,817	$	57,128
Deferred	(103,022		)	23,154		(25,516		)
	$	(101,190	)	$	66,971	$	31,612



Domestic	$	(102,978	)	$	29,613	$	11,615
Foreign	1,788			37,358		19,997
	$	(101,190	)	$	66,971	$	31,612

Components of income (loss) before income taxes are as follows (in thousands):



	Year Ended December 31,
	2015			2014		2013

Domestic	$	(485,760	)	$	73,700	$	36,176
Foreign	7,590			188,821		107,412
	$	(478,170	)	$	262,521	$	143,588

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



	Year Ended December 31,
	2015		2014		2013

Statutory rate	35.0	%	35.0	%	35.0	%
Foreign provision	(13.7	)	(9.1	)	(11.6	)
Other	(0.1	)	(0.4	)	(1.4	)
Effective rate	21.2	%	25.5	%	22.0	%

Deferred income taxes result from the effect of transactions that are recognized in different periods for financial and tax reporting purposes. The nature of these differences and the income tax effect of each are as follows (in thousands):



	December 31,
	2015			2014
Deferred tax liabilities:
Depreciation	$	173,863		$	211,903
Original Issue Discount on 2032 Notes	17,957			16,269
Equity investments in production facilities	8,029			50,685
Prepaid and other	1,883			4,211
Total deferred tax liabilities	$	201,732		$	283,068
Deferred tax assets:
Net operating losses	$	(23,595	)	$	(23,076	)
Reserves, accrued liabilities and other	(52,672		)	(53,973		)
Total deferred tax assets	(76,267		)	(77,049		)
Valuation allowance	1,936			23,076
Net deferred tax liabilities	$	127,401		$	229,095
Deferred income tax is presented as:
Current deferred tax assets	(53,573		)	(31,180		)
Non-current deferred tax liabilities	180,974			260,275
Net deferred tax liabilities	$	127,401		$	229,095

At December 31, 2015, our U.S. net operating losses available for carryforward or carryback totaled $47.2 million and our foreign tax credits available for carryforward or carryback totaled $7.9 million. The net operating loss carryforward would expire in 2035 if unused, while the foreign tax credit carryforward would expire in 2025 if unused. We anticipate fully utilizing the net operating loss and $4.6 million of the foreign tax credits via carryback claims. At December 31, 2015, the U.K. net operating losses of our well intervention company available for carryforward or carryback totaled $13.7 million. We anticipate fully utilizing the net operating loss via a carryback claim. At December 31, 2015, we had a $1.9 million valuation allowance related to certain non-U.S. deferred tax assets, primarily net operating losses generated from our oil and gas operations in the U.K., as management believes it is more likely than not that we will not be able to utilize the tax benefit. Additional valuation allowances may be made in the future if in management’s opinion it is more likely than not that the tax benefit will not be utilized.

We consider the undistributed earnings of our non-U.S. subsidiaries without operations in the U.S. to be permanently reinvested. At December 31, 2015 and 2014, our non-U.S. subsidiaries without operations in the U.S. had accumulated earnings and profits of approximately $304.0 million and $338.0 million, respectively. We have not provided deferred U.S. income tax on the accumulated earnings and profits from our non-U.S. subsidiaries without operations in the U.S. as we consider them permanently reinvested.

We had no uncertain tax positions as of December 31, 2015. In 2014, we recognized a $3.4 million tax benefit as a result of the completion of examination procedures for the 2006 through 2010 audit period by the U.S. Internal Revenue Service (see below). We account for tax-related interest in interest expense and tax penalties in selling, general and administrative expenses. We charged $0.2 million to income tax expense for interest and penalties accrued in 2013, which brought our total liabilities for interest and penalties to $1.3 million at December 31, 2013. In 2014, in connection with the recognition of the $3.4 million tax benefit from the completion of examination procedures by the Internal Revenue Service, we reversed approximately $1.3 million of accrued interest and penalties.

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in thousands):



	2014			2013

Balance at January 1,	$	4,723		$	4,506
Additions for tax positions of prior years	—			217
Reductions for tax positions of prior years	(4,723		)	—
Balance at December 31,	$	—		$	4,723

We file tax returns in the U.S. and in various state, local and non-U.S. jurisdictions. We anticipate that any potential adjustments to our state, local and non-U.S. jurisdiction tax returns by tax authorities would not have a material impact on our financial position. In June 2014, the Internal Revenue Service and the Joint Committee on Taxation completed the examination procedures including all appeals and administrative reviews that the taxing authorities are required and expected to perform for the 2006 through 2010 audit period, and in September 2014, we received an income tax refund in the amount of $35.2 million. The refund was primarily attributable to the utilization of a net operating loss carryback from 2010. The tax periods from 2012 through 2015 remain open to review and examination by the Internal Revenue Service. In non-U.S. jurisdictions, the open tax periods include 2009 through 2015.

Shareholders' Equity

12 Months Ended

Dec. 31, 2015

Stockholders' Equity Note [Abstract]

Shareholders' Equity

Shareholders’ Equity

Our amended and restated Articles of Incorporation provide for authorized Common Stock of 240,000,000 shares with no stated par value per share and 5,000,000 shares of preferred stock, $0.01 par value per share issuable in one or more series.

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



	December 31,
	2015			2014

Cumulative foreign currency translation adjustment	$	(43,010	)	$	(30,161	)
Unrealized loss on hedges, net ⁽¹⁾	(27,891		)	(32,091		)
Accumulated other comprehensive loss	$	(70,901	)	$	(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 the Nordea Q5000 Loan, and are net of deferred income taxes totaling $15.1 million and $17.3 million as of December 31, 2015 and 2014, respectively (Note 18).

- 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

Reference 1: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
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-Subparagraph (SX 210.4-08.(d),(e))
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
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-Topic 210
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Reference 14: http://www.xbrl.org/2003/role/presentationRef
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-Section E

Reference 15: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
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+ Details

Stock Buyback Program	12 Months Ended
Stock Buyback Program	Dec. 31, 2015
Equity [Abstract]
Stock Buyback Program	Stock Buyback Program Our Board of Directors has granted us the authority to repurchase shares of our common stock in an amount equal to any equity issued to our employees, officers and directors under our stock-based compensation plans, including share-based awards issued under our existing long-term incentive plans and shares issued to our employees under our employee stock purchase plans (Note 12). We may continue to make repurchases pursuant to this authority from time to time as additional equity is issued under our stock based plans depending on prevailing market conditions and other factors. As described in an announced plan, all repurchases may be commenced or suspended at any time as determined by management. During 2015, we did not purchase any shares as then available under this program. As of December 31, 2015, we had repurchased a total of 3,589,425 shares of our common stock for $53.5 million or an average of $14.90 per share. We had 878,328 shares of our common stock available for repurchase under the program at December 31, 2015.

Earnings Per Share

12 Months Ended

Dec. 31, 2015

Earnings Per Share [Abstract]

Earnings Per Share

The computations of the numerator (income) and denominator (shares) to derive the basic and diluted EPS amounts presented on the face of the accompanying consolidated statements of operations are as follows (in thousands):



	Year Ended December 31,
	2015				2014				2013
	Income			Shares	Income			Shares	Income			Shares
Basic:
Continuing operations:
Net income (loss) applicable to common shareholders	$	(376,980	)		$	195,047			$	109,922
Less: Income from discontinued operations, net of tax	—				—				(1,073		)
Net income (loss) from continuing operations	(376,980		)		195,047				108,849
Less: Undistributed income allocable to participating securities – continuing operations	—				(1,018		)		(801		)
Net income (loss) applicable to common shareholders – continuing operations	$	(376,980	)	105,416	$	194,029		105,029	$	108,048		105,032



Discontinued operations:
Income from discontinued operations, net of tax	$	—		$	—		$	1,073
Less: Undistributed income allocable to participating securities – discontinued operations	—			—			(8		)
Net income applicable to common shareholders – discontinued operations	$	—	105,416	$	—	105,029	$	1,065		105,032



Diluted:
Continuing operations:
Net income (loss) applicable to common shareholders – continuing operations	$	(376,980	)	105,416	$	194,029	105,029	$	108,048	105,032
Effect of dilutive securities:
Share-based awards other than participating securities	—			—	—		16	—		152
Undistributed income reallocated to participating securities	—			—	—		—	1		—
Net income (loss) applicable to common shareholders – continuing operations	$	(376,980	)	105,416	$	194,029	105,045	$	108,049	105,184

Discontinued operations:
Income from discontinued operations, net of tax	$	—		105,416	$	—	105,045	$	1,073	105,184

We had net losses from continuing operations for the year ended December 31, 2015. Accordingly, our diluted EPS calculation for 2015 was equivalent to our basic EPS calculation because it excluded any assumed exercise or conversion of common stock equivalents because they were deemed to be anti-dilutive, meaning their inclusion would have reduced the reported net loss per share in those respective years. Shares that otherwise would have been included in the diluted per share calculations for the year ended December 31, 2015, assuming we had earnings from continuing operations, are as follows (in thousands):



	2015

Diluted shares (as reported)	105,416
Share-based awards	59
Total	105,475

In addition, approximately 8.0 million of potentially dilutive shares related to our Convertible Senior Notes Due 2032 (the “2032 Notes”) were excluded from the diluted EPS calculation for the years ended December 31, 2014 and 2013 because we have the right and the intention to settle any such future conversions in cash (Note 7).

Employee Benefit Plans

12 Months Ended

Dec. 31, 2015

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

Employee Benefit Plans

Defined Contribution Plan

We sponsor a defined contribution 401(k) retirement plan covering substantially all of our employees. Our discretionary contributions are in the form of cash and, prior to 2014, consisted of a 50% match of each employee’s contribution up to 5% of the employee’s salary. Beginning in 2014, our matching contributions increased to 75% of the first 5% of the employee’s salary. At their meetings in February 2016 the Compensation Committee of our Board of Directors and our Board of Directors resolved to suspend Helix’s discretionary matching contributions for an indefinite period. For the years ended December 31, 2015, 2014 and 2013, our costs related to the 401(k) plan totaled $2.8 million, $2.2 million and $1.7 million, respectively.

Employee Stock Purchase Plan

We have an employee stock purchase plan (the “ESPP”). The ESPP has 1.5 million shares authorized for issuance, of which 0.9 million shares were available for issuance as of December 31, 2015. Eligible employees who participate in the ESPP may purchase shares of our common stock through payroll deductions on an after-tax basis over a four-month period beginning on January 1, May 1, and September 1 of each year during the term of the ESPP, subject to certain restrictions and limitations established by the Compensation Committee of our Board of Directors and Section 423 of the Internal Revenue Code. The per share price of common stock purchased under the ESPP is equal to 85% of the lesser of (i) its fair market value on the first trading day of the purchase period or (ii) its fair market value on the last trading day of the purchase period. The total value of the ESPP awards is calculated using the component approach where each award is computed as the sum of 15% of a share of non-vested stock, a call option on 85% of a share of non-vested stock, and a put option on 15% of a share of non-vested stock. For the years ended December 31, 2015, 2014 and 2013, share-based compensation expense with respect to the ESPP was $1.1 million, $1.0 million and $0.8 million, respectively. At their meetings in February 2016 the Compensation Committee of our Board of Directors and our Board of Directors amended the ESPP to give the Board or the Compensation Committee the authority to suspend purchases under the ESPP at any time, and to give Helix management the authority to limit the number of shares our employees can purchase during each ESPP purchase period.

Long-Term Incentive Stock-Based Plan

We currently have one 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”). In May 2012, the shareholders approved an amendment to and restatement of the 2005 Incentive Plan to: (i) authorize 4.3 million additional shares for issuance pursuant to our equity incentive compensation programs, (ii) authorize incentive stock options, stock appreciation rights, cash awards and performance awards to be made pursuant to the 2005 Incentive Plan, and (iii) include performance criteria for awards that may be made contingent upon the achievement of one or more performance measures, as well as limits on individual awards, in accordance with the requirements for performance-based compensation under Section 162(m) of the Internal Revenue Code. As of December 31, 2015, there were 6.0 million shares available for issuance under the 2005 Incentive Plan, which includes a maximum of 2.0 million shares that may be granted as incentive stock options.

The 2005 Incentive Plan is administered by the Compensation Committee of our Board of Directors. The Compensation Committee also determines the type of award to be made to each participant and, as set forth in the related award agreement, the terms, conditions and limitations applicable to each award. The Compensation Committee may grant stock options, restricted stock, restricted stock units (“RSUs”), PSUs and cash awards. Prior to 2012, awards granted to employees under the incentive plans vested 20% per year over a five year period. Commencing in 2012, awards granted under the 2005 Incentive Plan have a vesting period of three years (or 33% per year).

The following grants of share-based awards were made in 2015 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
April 1, 2015 ⁽³⁾	6,476	$	14.96	100% on January 1, 2017
July 1, 2015 ⁽³⁾	6,631	$	12.63	100% on January 1, 2017
October 1, 2015 ⁽³⁾	17,876	$	4.79	100% on January 1, 2017
December 3, 2015 ⁽⁴⁾	170,454	$	6.16	33% per year over three years


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


(2)	Reflects the grant of PSUs to our executive officers and select management employees.


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


(4)	Reflects annual equity grants to each independent member of our Board of Directors.

In January 2016, we granted our executive officers and select management employees 1,143,062 shares of restricted stock under the 2005 Incentive Plan. The market value of the restricted shares was $5.26 per share or $6.0 million and the shares vest 33% per year for a three-year period. Separately, we issued our executive officers and select management employees 1,143,062 PSUs under the 2005 Incentive Plan.

Restricted Stock

We grant restricted stock to members of our Board of Directors, executive officers and select management employees. The following table summarizes information about our restricted stock:



	Year Ended December 31,
	2015				2014				2013
	Shares		Grant Date Fair Value ⁽¹⁾		Shares		Grant Date Fair Value ⁽¹⁾		Shares		Grant Date Fair Value ⁽¹⁾

Awards outstanding at beginning of year	554,960		$	17.54	771,942		$	13.62	1,191,402		$	14.14
Granted	501,076		15.57		139,455		23.22		168,468		21.63
Vested ^{(2) (3)}	(332,223	)	16.44		(356,437	)	11.27		(502,022	)	17.50
Forfeited	(62,689	)	20.93		—		—		(85,906	)	13.79
Awards outstanding at end of year ⁽³⁾	661,124		$	16.28	554,960		$	17.54	771,942		$	13.62


(1)	Represents the weighted average grant date fair value, which is based on the quoted closing market price of our common stock on the trading day prior to the date of grant.


(2)	Total fair value of restricted stock and RSUs that vested during the years ended December 31, 2015, 2014 and 2013 was $5.1 million, $8.2 million and $11.0 million, respectively.

(3)

The vested and year-end amounts in 2014 each include 33,760 shares of RSUs with the grant date fair value of $15.80 per share. In December 2013, management elected to pay out the January 2014 vesting of these RSUs in cash. As a result, we recorded a $1.3 million liability associated with these RSUs at December 31, 2013 and an additional liability of $0.2 million during 2014. We paid $0.8 million of this liability in January 2014 and $0.7 million in January 2015.

For the years ended December 31, 2015, 2014 and 2013, $5.5 million, $5.0 million and $6.6 million, respectively, were recognized as stock-based compensation expense related to restricted stock and RSUs. Forfeitures on restricted stock totaled approximately 6% based on our most recent five-year average of historical forfeiture rates. Future compensation expense associated with unvested restricted stock at December 31, 2015 totaled approximately $6.5 million. The weighted average vesting period related to unvested restricted stock at December 31, 2015 was approximately 1.8 years.

Performance Stock Units

Since 2012, we have issued PSUs to our executive officers. We also have issued PSUs to select management employees since 2015. The PSUs provide for an award based on the performance of our common stock over a three-year period compared to the performance of other companies in a peer group selected by the Compensation Committee of our Board of Directors with the maximum amount of the award being 200% of the original awarded PSUs and the minimum amount being zero. The PSUs vest 100% on the three-year anniversary date of the grant. 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.

We issued 295,693 PSUs in 2015 with a grant date fair value of $25.06 per unit, 73,609 PSUs in 2014 with a grant date fair value of $26.79 per unit and 89,329 PSUs in 2013 with a grant date fair value of $27.50 per unit. Until December 2014, the PSUs were being treated as equity awards. In January 2015, in connection with the vesting of the 2012 PSU awards, 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 payment method for the PSU awards). Accordingly, PSUs are accounted for as liability awards. For the years ended December 31, 2015, 2014 and 2013, $0.2 million, $5.4 million and $2.2 million, respectively, were recognized as stock-based compensation expense related to PSUs. For the year ended December 31, 2015, $2.9 million was recorded in equity reflecting the cumulative compensation expense recognized in excess of the estimated fair value of the modified liability PSU awards at December 31, 2015. The liability balance for unvested PSUs was $0.7 million and $7.9 million at December 31, 2015 and 2014, respectively. We paid $4.5 million to cash settle the 2012 grant of PSUs when they vested in January 2015. We paid $0.2 million to cash settle the 2013 grant of PSUs when they vested in January 2016.

Stock Options

There have been no stock options granted since 2004. All of the remaining 52,800 stock options were exercised in 2013 at a weighted average price of $13.91 per share. The aggregate intrinsic value of the stock options exercised during the year ended December 31, 2013 was approximately $0.5 million.

Long-Term Incentive Cash Plans

We also 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. The maximum amount payable under these share-based cash awards is twice the original amount of the award and if the average price during the measurement period is less than 75% of the base price, no payout will be made at the applicable vesting date. Cash payments under these awards are made each year during the vesting period 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 select management employees totaled $8.9 million in 2014 and $8.4 million in 2013. No long-term incentive cash awards were granted in 2015. For the year ended December 31, 2015, we recorded reductions of $3.7 million ($2.1 million related to our executive officers) 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 since December 31, 2014 had on the value of our liability plan. For the years ended December 31, 2014 and 2013, total compensation expense associated with the cash awards issued pursuant to the LTI Cash Plans was $7.2 million ($3.6 million related to our executive officers) and $9.1 million ($5.3 million related to our executive officers), respectively. The liability balance for the cash awards issued under the LTI Cash Plans was less than $0.1 million at December 31, 2015 and $12.8 million ($7.9 million related to our executive officers) at December 31, 2014. During 2015, 2014 and 2013, we paid $8.9 million, $9.2 million and $7.1 million of the liability associated with the LTI Cash Plans. No long-term incentive cash awards were paid or granted in January 2016.

Business Segment Information

12 Months Ended

Dec. 31, 2015

Segment Reporting [Abstract]

Business Segment Information

We have three reportable business segments: Well Intervention, Robotics and Production Facilities. Our U.S., U.K. and Brazil well intervention operating segments are aggregated into the Well Intervention business segment for financial reporting purposes. 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 Q5000, the Helix 534, the Seawell, the Well Enhancer and the Skandi Constructor, which is a chartered vessel. Our well intervention segment also includes IRSs, some of which we rent out on a stand-alone basis, and SILs. Our Robotics segment includes ROVs, trenchers and ROVDrills designed to complement offshore construction and well intervention services, and currently operates four chartered ROV support vessels. 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. Our Subsea Construction results diminished following the sale in 2013 and early 2014 of essentially all of our assets related to this previously reported business segment. All material intercompany transactions between the segments have been eliminated. We sold ERT in February 2013, and as a result, the historical operating results of our former Oil and Gas segment are presented as discontinued operations in the accompanying consolidated financial statements. See Note 1 for additional information regarding our discontinued operations.

We evaluate our performance based on operating income and income before income taxes of each reportable 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):



	Year Ended December 31,
	2015			2014			2013
Net revenues —
Well Intervention	$	373,301		$	667,849		$	452,452
Robotics	301,026			420,224			333,246
Production Facilities	75,948			93,175			88,149
Subsea Construction	—			358			71,321
Intercompany elimination	(54,473		)	(74,450		)	(68,607		)
Total	$	695,802		$	1,107,156		$	876,561



Income (loss) from operations —
Well Intervention ⁽¹⁾	$	(194,381	)	$	204,810		$	131,840
Robotics	27,832			68,329			44,132
Production Facilities ⁽²⁾	(106,847		)	41,138			49,778
Subsea Construction ⁽³⁾	(52		)	10,923			33,685
Corporate and other	(33,814		)	(62,523		)	(77,041		)
Intercompany elimination	(98		)	(921		)	(3,360		)
Total	$	(307,360	)	$	261,756		$	179,034



Net interest expense —
Well Intervention	$	(102	)	$	(252	)	$	(128	)
Robotics	29			(5		)	19
Production Facilities	385			384			380
Corporate and eliminations ⁽⁴⁾	26,602			17,732			32,627
Total	$	26,914		$	17,859		$	32,898

Equity in earnings (losses) of investments	$	(124,345	)	$	879		$	2,965



Income (loss) before income taxes —
Well Intervention ⁽¹⁾	$	(193,572	)	$	211,725		$	132,057
Robotics ⁽⁵⁾	2,454			61,025			44,342
Production Facilities ⁽²⁾	(231,577		)	41,633			52,363
Subsea Construction ⁽³⁾	53			11,201			33,205
Corporate and eliminations	(55,528		)	(63,063		)	(118,379		)
Total	$	(478,170	)	$	262,521		$	143,588



Income tax provision (benefit) —
Well Intervention	$	(1,230	)	$	50,102		$	26,718
Robotics	515			21,612			15,530
Production Facilities	(81,052		)	14,395			17,233
Subsea Construction	26			3,881			11,655
Corporate and eliminations	(19,449		)	(23,019		)	(39,524		)
Total	$	(101,190	)	$	66,971		$	31,612



	Year Ended December 31,
	2015		2014		2013
Identifiable assets —
Well Intervention	$	1,492,901	$	1,470,349	$	1,245,229
Robotics	274,926		299,701		282,373
Production Facilities	182,007		459,427		495,829
Subsea Construction	10,027		27,547		38,054
Corporate and other	452,091		443,674		482,795
Total	$	2,411,952	$	2,700,698	$	2,544,280



Capital expenditures —
Well Intervention	$	307,879		$	283,635	$	283,132
Robotics	10,700			51,348		39,655
Production Facilities	1,867			869		1,252
Corporate and other	(135		)	1,060		387
Total	$	320,311		$	336,912	$	324,426



Depreciation and amortization —
Well Intervention	$	66,095	$	57,570	$	44,619
Robotics	26,724		24,478		22,263
Production Facilities	21,340		21,278		17,193
Subsea Construction	—		—		8,651
Corporate and eliminations	6,242		6,019		5,809
Total	$	120,401	$	109,345	$	98,535


(1)	Amount in 2015 includes impairment charges of $205.2 million for the Helix 534 and $6.3 million for certain capitalized vessel project costs and a $16.4 million impairment charge on goodwill related to our U.K. well intervention reporting unit.


(2)	Amount in 2015 includes a $133.4 million impairment charge for the HP I.


(3)	Amount in 2014 includes the $10.5 million gain on the sale of our Ingleside spoolbase in January 2014. Amount in 2013 includes the $1.1 million loss on the sale of the Caesar in June 2013 and the $15.6 million gain on the sale of the Express in July 2013.


(4)	Amount in 2014 includes $16.9 million of income with $7.2 million from an insurance reimbursement related to asset retirement work previously performed and the remaining income associated with our overriding royalty interests in ERT’s Wang well, which commenced production in April 2013. Amount in 2013 includes the $12.1 million loss on early extinguishment of debt.


(5)	Amount in 2015 includes unrealized losses totaling $18.3 million on our foreign currency exchange contracts associated with the Grand Canyon, Grand Canyon II and Grand Canyon III chartered vessels.

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):



	Year Ended December 31,
	2015		2014		2013

Well Intervention	$	22,855	$	29,875	$	22,448
Robotics	31,618		44,575		41,169
Production Facilities	—		—		4,673
Subsea Construction	—		—		317
Total	$	54,473	$	74,450	$	68,607

Revenues by individually significant region are as follows (in thousands):



	Year Ended December 31,
	2015		2014		2013

United States	$	298,391	$	403,994	$	345,525
North Sea ⁽¹⁾	263,438		504,016		403,816
Other	133,973		199,146		127,220
Total	$	695,802	$	1,107,156	$	876,561


(1)	Includes revenues of $187.7 million, $362.7 million and $327.1 million, respectively, which were from the U.K.

Our assets related to operations, primarily our vessels, operate throughout the year in various regions around the world such as the U.S. Gulf of Mexico, North Sea, Asia Pacific and West Africa. The following table provides our property and equipment, net of accumulated depreciation, by individually significant geographic location of our assets (in thousands):



	December 31,
	2015		2014

United States	$	1,024,691	$	893,106
United Kingdom	352,740		355,996
Singapore ⁽¹⁾	112,313		434,319
Other	113,265		51,963
Total	$	1,603,009	$	1,735,384


(1)	Primarily includes vessels under construction.

- 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.

+ References

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+ Details

Commitments and Contingencies and Other Matters

12 Months Ended

Dec. 31, 2015

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies and Other Matters

Commitments

Commitments Related to Our Fleet

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 are for five years from their respective delivery dates. We took delivery of the Grand Canyon II in April 2015 and received a $4.7 million non-refundable payment from the shipyard that constructed the vessel related to the delayed delivery of the vessel. This payment is amortized as a reduction in our cost of sales over the five-year charter for the vessel. The delivery of the Grand Canyon III has been deferred until May 2016.

In September 2013, we executed a contract with the same shipyard in Singapore that constructed the Q5000. This contract is for the construction of a newbuild semi-submersible well intervention vessel, the Q7000, which is being 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 original terms of this contract, 20% of the contract price was paid upon the signing of the contract and the remaining 80% was to be paid upon the delivery of the vessel. Pursuant to the first amendment, we agreed to pay the shipyard incremental costs of up to $14.5 million to extend the scheduled delivery of the Q7000 from mid-2016 to July 30, 2017. We paid $7.3 million of these costs in July 2015 and the remaining costs will be paid upon the delivery of the vessel. Pursuant to the second amendment we entered into in December 2015, the remaining 80% will be paid in three installments, with 20% in June 2016, 20% upon issuance of the Completion Certificate, which is to be issued on or before December 31, 2017, and 40% upon the delivery of the vessel, which at our option can be deferred until December 30, 2018. We agreed to reimburse the shipyard for incremental costs in connection with the further deferment of the Q7000’s delivery. Incremental costs are capitalized as they are incurred during the construction of the vessel. At December 31, 2015, our total investment in the Q7000 was $112.2 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, the Siem Helix I, which is expected to be in service for Petrobras in the second half of 2016, and the Siem Helix II, which is expected to be in service in 2017. At December 31, 2015, our total investment in the topside equipment for the two vessels was $113.3 million. In November 2014, we paid a charter fee deposit of $12.5 million, which will be used to reduce our future charter payments.

Lease Commitments

We lease facilities and charter vessels under non-cancelable operating leases and vessel charters expiring at various dates through 2025. Future minimum rentals at December 31, 2015 are as follows (in thousands):



	Vessels		Facilities and Other		Total

2016	$	144,389	$	4,973	$	149,362
2017	160,215		4,805		165,020
2018	126,890		4,441		131,331
2019	122,004		4,460		126,464
2020	107,484		4,041		111,525
Thereafter	199,867		16,706		216,573
Total lease commitments	$	860,849	$	39,426	$	900,275

For the years ended December 31, 2015, 2014 and 2013, total rental expense was approximately $134.3 million, $147.2 million and $102.1 million, respectively.

We sublease some of our facilities under non-cancelable sublease agreements. For the years ended December 31, 2015, 2014 and 2013, total rental income was $1.4 million, $0.8 million and $0.4 million, respectively. As of December 31, 2015, the minimum rentals to be received in the future totaled $1.6 million.

In January 2016, we entered into an agreement to lease back our former office and warehouse property located in Aberdeen, Scotland for 15 years with two five-year options to extend the lease. The annual minimum lease payment is approximately $0.9 million.

Contingencies and Claims

We believe that there are currently no contingencies that would have a material adverse effect on our financial position, results of operations and cash flows. During 2015, we concluded that a potential contractual obligation to reimburse a third party for certain foreign taxes was no longer probable and thus we reversed a previous accrual in the amount of $5.2 million for this contingent liability as a reduction in our cost of sales.

Litigation

On July 31, 2015, a purported stockholder, Parviz Izadjoo, filed a class action lawsuit styled Parviz Izadjoo v. Owen Kratz and Helix Energy Solutions Group, Inc. against the Company and Owen Kratz, our President and Chief Executive Officer, in the United States District Court for the Southern District of Texas on behalf of a putative class of all purchasers of shares of our common stock between October 21, 2014, and July 21, 2015, inclusive. The lawsuit asserts violations of Section 10(b) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and SEC Rule 10b-5 as to both us and Mr. Kratz, and Section 20(a) of the Exchange Act against Mr. Kratz based on alleged misrepresentations and omissions in SEC filings and other public disclosures regarding projections for 2015 dry docks of two of our vessels working in the Gulf of Mexico that allegedly caused the price at which putative class members bought stock during the proposed class period to be artificially inflated. The deadline to apply for appointment as lead plaintiff was September 29, 2015. On January 28, 2016, the judge approved a motion for the appointment of lead plaintiff and lead counsel, and the plaintiff has until March 14, 2016 to amend the complaint. We believe this lawsuit to be without merit and intend to vigorously defend against it.

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.

Statement of Cash Flow Information

12 Months Ended

Dec. 31, 2015

Supplemental Cash Flow Information [Abstract]

Statement of Cash Flow Information

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



	Year Ended December 31,
	2015		2014		2013

Interest paid, net of interest capitalized	$	14,555	$	11,628	$	39,040
Income taxes paid	$	16,905	$	70,509	$	113,331

Our non-cash investing activities include accruals for property and equipment capital expenditures. As of December 31, 2015 and 2014, these non-cash investing accruals totaled $18.7 million and $14.1 million, respectively. Additionally, our non-cash investing activities for the year ended December 31, 2014 included a $27.5 million non-cash transaction related to the promissory note we received in connection with the sale of our Ingleside spoolbase in January 2014 (Note 4).

Allowance Accounts

12 Months Ended

Dec. 31, 2015

Valuation and Qualifying Accounts [Abstract]

Allowance Accounts

The following table sets forth the activity in our valuation accounts for each of the three years in the period ended December 31, 2015 (in thousands):



	Allowance for Uncollectible Accounts			Deferred Tax Asset Valuation Allowance

Balance at December 31, 2012	$	5,152		$	16,391
Additions ⁽¹⁾	2,236			—
Adjustments ^{(2) (3)}	(5,154		)	6,469
Balance at December 31, 2013	2,234			22,860
Additions ⁽¹⁾	5,331			—
Deductions ⁽⁴⁾	(2,830		)	—
Adjustments	—			216
Balance at December 31, 2014	4,735			23,076
Additions ⁽¹⁾	3,275			—
Deductions ⁽⁴⁾	(7,660		)	—
Adjustments ⁽⁵⁾	—			(21,140		)
Balance at December 31, 2015	$	350		$	1,936


(1)	The increase in allowance for uncollectible accounts primarily reflects charges associated with the provision for uncertain collection of a portion of our existing trade receivables related to our Robotics segment.


(2)	The decrease in allowance for uncollectible accounts primarily reflects the reversal of a $4.0 million allowance against our trade receivables for work performed offshore India in 2007 as we collected the previously adjusted receivable balance pursuant to a settlement agreement.


(3)	The increase in valuation allowance includes $6.5 million related to our net operating losses generated in Australia.


(4)	The decrease in allowance for uncollectible accounts reflects the write-offs of trade receivables that are either settled or deemed uncollectible.


(5)	The decrease in valuation allowance primarily reflects a $20.6 million reduction related to the loss of deferred tax assets for net operating losses within our Australian subsidiaries.

See Note 2 for a detailed discussion regarding our accounting policy on accounts receivable and allowance for uncollectible accounts and Note 8 for a detailed discussion of the valuation allowance related to our deferred tax assets.

Fair Value Measurements

12 Months Ended

Dec. 31, 2015

Fair Value Disclosures [Abstract]

Fair Value Measurements

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 December 31, 2015 Using								Valuation Technique
	Level 1		Level 2 ⁽¹⁾		Level 3		Total		Valuation Technique
Assets:
Interest rate swaps	$	—	$	413	$	—	$	413	(c)

Liabilities:
Foreign exchange contracts	—		61,427		—		61,427		(c)
Interest rate swaps	—		1,473		—		1,473		(c)
Total net liability	$	—	$	62,487	$	—	$	62,487



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

Liabilities:
Foreign exchange contracts	—		50,428		—		50,428		(c)
Interest rate swaps	—		561		—		561		(c)
Total net liability	$	—	$	50,620	$	—	$	50,620

(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 18 for further discussion on fair value of our derivative instruments.

The carrying values and estimated fair values of our long-term debt are as follows (in thousands):



	December 31,
	2015				2014
	Carrying Value		Fair Value ⁽²⁾		Carrying Value		Fair Value ⁽²⁾

Term Loan (matures June 2018)	$	255,000	$	248,467	$	277,500	$	270,563
Nordea Q5000 Loan (matures April 2020)	232,143		221,553		—		—
MARAD Debt (matures February 2027)	89,148		104,897		94,792		104,830
2032 Notes (mature March 2032) ⁽¹⁾	200,000		150,250		200,000		222,900
Total debt	$	776,291	$	725,167	$	572,292	$	598,293


(1)	Carrying amount excludes the related unamortized debt discount of $15.0 million and $20.9 million at December 31, 2015 and 2014, respectively.

(2)

The estimated fair value of the 2032 Notes was determined using Level 1 inputs under the market approach. The fair value of the Term Loan, the Nordea Q5000 Loan and the MARAD Debt was estimated using Level 2 fair value inputs under the market approach. The fair value of the Term Loan, the Nordea Q5000 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

12 Months Ended

Dec. 31, 2015

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Instruments and Hedging Activities

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



	December 31,
	2015			2014
	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
Asset Derivatives:
Interest rate swaps	Other assets, net	$	413	Other assets, net	$	369
		$	413		$	369

Liability Derivatives:
Foreign exchange contracts	Accrued liabilities	$	14,955	Accrued liabilities	$	12,661
Interest rate swaps	Accrued liabilities	1,473		Accrued liabilities	561
Foreign exchange contracts	Other non-current liabilities	28,458		Other non-current liabilities	37,767
		$	44,886		$	50,989

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



	December 31,
	2015			2014
	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
Liability Derivatives:
Foreign exchange contracts	Accrued liabilities	$	6,763	Accrued liabilities	$	—
Foreign exchange contracts	Other non-current liabilities	11,251		Other non-current liabilities	—
		$	18,014		$	—

As a result of the announcement in December 2012 of the sale of ERT, we de-designated all of our then remaining oil and gas derivative contracts and our then existing interest rate swaps as hedging instruments. In February 2013, we cash settled all of these commodity derivative contracts and interest rate swap contracts.

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.

During renegotiations on the Grand Canyon, the Grand Canyon II and the Grand Canyon III charters, it became apparent in December 2015 that a portion of previously forecasted charter payments in NOK would no longer be made. We concluded that the foreign currency exchange contracts associated with the charter payments for the Grand Canyon II and the Grand Canyon III vessels no longer qualified for hedge accounting treatment. As a result, we de-designated these hedges and re-designated the hedging relationship between a portion of our foreign currency exchange contracts and our forecasted Grand Canyon II and Grand Canyon III charter payments of NOK434.1 million and NOK185.2 million, respectively, that were expected to remain highly probable of occurring. We recognized unrealized losses of $18.0 million related to the foreign currency exchange contracts associated with the portion of previously forecasted charter payments that would no longer be made. These unrealized losses are reflected in “Other income (expense), net” in the accompanying consolidated statement of operations. As of December 31, 2015, our Accumulated OCI (net of tax) included unrealized losses of $19.8 million associated with the re-designated foreign currency exchange contracts that qualify for hedge accounting treatment.

Hedge ineffectiveness is reflected in “Other income (expense), net” in the accompanying consolidated statement of operations. For the year ended December 31, 2015, we recorded realized losses of $3.6 million related to the Grand Canyon II and Grand Canyon III hedge ineffectiveness and unrealized losses of $1.5 million related to the Grand Canyon hedge ineffectiveness. For the year ended December 31, 2014, we recorded realized losses of $0.5 million and unrealized losses of $1.2 million related to the Grand Canyon II hedge ineffectiveness. Ineffectiveness associated with our cash flow hedges was immaterial for the year ended December 31, 2013.

In September 2013, we entered into various interest rate swap contracts to fix the interest rate on $148.1 million of our Term Loan borrowings (Note 7). These contracts, which are settled monthly, began in October 2013 and extend through October 2016. Additionally, in June 2015 we entered into various interest rate swap contracts to fix the interest rate on $187.5 million of our Nordea Q5000 Loan borrowings (Note 7). These swap contracts, which are settled monthly, began in June 2015 and extend through April 2020. Our interest rate swap contracts qualify for cash flow hedge accounting treatment.

The following tables present the impact that derivative instruments designated as cash flow hedges had on our Accumulated OCI (net of tax) and our consolidated statements of operations (in thousands). We estimate that as of December 31, 2015, $9.6 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 (Effective Portion)
	Year Ended December 31,
	2015			2014			2013

Foreign exchange contracts	$	4,734		$	(22,170	)	$	(9,796	)
Interest rate swaps	(534		)	70			(195		)
	$	4,200		$	(22,100	)	$	(9,991	)



	Location of Loss Reclassified from Accumulated OCI into Earnings	Loss Reclassified from Accumulated OCI into Earnings (Effective Portion)
		Year Ended December 31,
		2015			2014			2013

Foreign exchange contracts	Cost of sales	$	(11,516	)	$	(2,507	)	$	(1,324	)
Interest rate swaps	Net interest expense	(2,143		)	(858		)	(152		)
		$	(13,659	)	$	(3,365	)	$	(1,476	)

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



	Location of Gain (Loss) Recognized in Earnings on Derivatives	Gain (Loss) Recognized in Earnings on Derivatives
		Year Ended December 31,
		2015			2014		2013

Oil and gas commodity contracts	Loss on commodity derivative contracts	$	—		$	—	$	(14,113	)
Interest rate swaps	Other income (expense), net	—			—		(86		)
Foreign exchange contracts	Other income (expense), net	(18,014		)	7		(630		)
		$	(18,014	)	$	7	$	(14,829	)

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
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Reference 5: http://www.xbrl.org/2003/role/presentationRef
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Reference 7: http://www.xbrl.org/2003/role/presentationRef
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Reference 8: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 815
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Reference 10: http://www.xbrl.org/2003/role/presentationRef
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Reference 11: http://www.xbrl.org/2003/role/presentationRef
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+ Details

Quarterly Financial Information (Unaudited)

12 Months Ended

Dec. 31, 2015

Quarterly Financial Information Disclosure [Abstract]

Quarterly Financial Information (Unaudited)

Offshore marine construction activities may fluctuate as a result of weather conditions as well as the timing of capital expenditures by oil and gas companies. Historically, a substantial portion of our services has been performed during the summer and fall months. As a result, historically a disproportionate portion of our revenues and net income is earned during such period. The following is a summary of consolidated quarterly financial information (in thousands, except per share amounts):



	Quarter Ended
	March 31,		June 30,			September 30,		December 31,
2015
Net revenues	$	189,641	$	166,016		$	182,462	$	157,683
Gross profit (loss) ⁽¹⁾	$	34,947	$	24,208		$	31,969	$	(324,898	)
Net income (loss) applicable to common shareholders ⁽²⁾	$	19,642	$	(2,635	)	$	9,880	$	(403,867	)
Basic earnings (loss) per common share	$	0.19	$	(0.03	)	$	0.09	$	(3.83	)
Diluted earnings (loss) per common share	$	0.19	$	(0.03	)	$	0.09	$	(3.83	)



	Quarter Ended
	March 31,		June 30,		September 30,		December 31,
2014
Net revenues	$	253,572	$	305,587	$	340,837	$	207,160
Gross profit	75,846		109,138		126,247		32,805
Net income applicable to common shareholders	$	53,719	$	57,782	$	75,586	$	7,960
Basic earnings per common share	$	0.51	$	0.55	$	0.72	$	0.08
Diluted earnings per common share	$	0.51	$	0.55	$	0.71	$	0.08


(1)	Amount in the fourth quarter of 2015 includes impairment charges of $205.2 million for the Helix 534 and $133.4 million for the HP I and $6.3 million for certain capitalized vessel project costs (Note 4).

(2)

Amount in the fourth quarter of 2015 includes a $16.4 million impairment charge on goodwill related to our U.K. well intervention reporting unit (Notes 2 and 6), losses totaling $123.8 million related to our equity investments in Deepwater Gateway and Independence Hub (Note 5), and unrealized losses totaling $19.0 million on our foreign currency exchange contracts associated with the Grand Canyon, Grand Canyon II and Grand Canyon III chartered vessels (Note 18).

Summary of Significant Accounting Policies (Policy)

12 Months Ended

Dec. 31, 2015

Accounting Policies [Abstract]

Principles of Consolidation

Basis of Presentation

Use of Estimates

Cash and Cash Equivalents

Cash and cash equivalents are highly liquid financial instruments with original maturities of three months or less. They are carried at cost plus accrued interest, which approximates fair value.

Accounts and Notes Receivable and Allowance for Uncollectible Accounts

Property and Equipment

Capitalized Interest

Equity Investments

Goodwill

Recertification Costs and Deferred Dry Dock Charges

Revenue Recognition


•	the customer provides specifications for the provision of services;


•	we can reasonably estimate our progress towards completion and our costs;


•	the contract includes provisions for enforceable rights regarding the goods or services to be provided, consideration to be received, and the manner and terms of payment;


•	the customer can be expected to satisfy its obligations under the contract; and


•	we can be expected to perform our contractual obligations.

Revenue from Royalty Interests

Income Taxes

Stock-Based Compensation

Foreign Currency

Derivative Instruments and Hedging Activities

Interest Rate Risk

Foreign Currency Exchange Rate Risk

See Note 18 for more information regarding our derivative contracts including our oil and gas commodity contracts associated with ERT.

Earnings Per Share

Major Customers and Concentration of Credit Risk

Fair Value Measurements


•	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 described in Note 17.

Asset Retirement Obligations

New Accounting Standards

We do not expect any other recent accounting standards to have a material impact on our financial position, results of operations or cash flows.

Details of Certain Accounts (Tables)

12 Months Ended

Dec. 31, 2015

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of other current assets

Other current assets consist of the following (in thousands):



	December 31,
	2015		2014

Note receivable (Note 4)	$	10,000	$	17,500
Other receivables	426		423
Prepaid insurance	5,433		6,582
Other prepaids	10,751		15,541
Spare parts inventory	4,985		1,857
Value added tax receivable	7,842		9,326
Other	81		72
Total other current assets	$	39,518	$	51,301

Schedule of other assets, net

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



	December 31,
	2015		2014

Note receivable (Note 4)	$	—	$	10,000
Deferred dry dock expenses, net (Note 2)	19,615		11,631
Deferred financing costs, net (Note 7)	19,856		23,399
Intangible assets with finite lives, net	781		696
Charter fee deposit (Note 14)	12,544		12,544
Other	805		1,002
Total other assets, net	$	53,601	$	59,272

Schedule of accrued liabilities

Accrued liabilities consisted of the following (in thousands):



	December 31,
	2015		2014

Accrued payroll and related benefits	$	14,775	$	61,246
Current asset retirement obligations	553		575
Unearned revenue	12,841		11,461
Accrued interest	4,854		4,221
Derivative liability (Note 18)	23,192		13,222
Taxes payable excluding income tax payable	8,136		6,236
Other	7,290		7,962
Total accrued liabilities	$	71,641	$	104,923

Schedule of other non-current liabilities

Other non-current liabilities consisted of the following (in thousands):



	December 31,
	2015		2014

Loss in excess of equity investment (Note 5)	$	8,308	$	—
Derivative liability (Note 18)	39,709		37,767
Other	3,398		341
Total other non-current liabilities	$	51,415	$	38,108

Property and Equipment (Tables)

12 Months Ended

Dec. 31, 2015

Property, Plant and Equipment [Abstract]

Summary of gross components of property and equipment

The following is a summary of the gross components of property and equipment (dollars in thousands):



		December 31,
	Estimated Useful Life	2015		2014

Vessels	15 to 30 years	$	1,944,753	$	1,657,448
ROVs, trenchers and ROVDrills	10 years	311,971		310,841
Machinery, equipment, buildings and leasehold improvements	5 to 30 years	288,133		273,155
Total property and equipment		$	2,544,857	$	2,241,444

Equity Investments (Tables)

12 Months Ended

Dec. 31, 2015

Equity Method Investments and Joint Ventures [Abstract]

Schedule of distributions from equity method investments

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



	Year Ended December 31,
	2015		2014		2013

Deepwater Gateway	$	5,200	$	6,150	$	7,600
Independence Hub	1,800		2,640		4,660
Total	$	7,000	$	8,790	$	12,260

Summary of financial information related to equity method investments

The summarized aggregated financial information related to our equity method investments is as follows (in thousands):



	Year Ended December 31,
	2015			2014		2013

Revenues	$	14,791		$	23,284	$	32,943
Operating income (loss)	(448,138		)	411		10,058
Net income (loss)	(448,138		)	411		10,058



	December 31,
	2015		2014

Current assets	$	3,181	$	7,898
Non-current assets	70,812		475,789
Current liabilities	180		50
Non-current liabilities	62,951		5,237

Goodwill (Tables)

12 Months Ended

Dec. 31, 2015

Goodwill and Intangible Assets Disclosure [Abstract]

Changes in the carrying amount of goodwill

The changes in the carrying amount of goodwill are as follows (in thousands):



	Well Intervention			Robotics		Total
Balance at December 31, 2013	$	18,123		$	45,107	$	63,230
Other adjustments ⁽¹⁾	(1,084		)	—		(1,084		)
Balance at December 31, 2014	17,039			45,107		62,146
Impairment loss	(16,399		)	—		(16,399		)
Other adjustments ⁽¹⁾	(640		)	—		(640		)
Balance at December 31, 2015	$	—		$	45,107	$	45,107


(1)	Reflects foreign currency adjustment related to the goodwill of our U.K. well intervention reporting unit.

Long-Term Debt (Tables)

12 Months Ended

Dec. 31, 2015

Debt Disclosure [Abstract]

Schedule of long-term debt

Long-term debt consists of the following (in thousands):



	December 31,
	2015			2014

Term Loan (matures June 2018)	$	255,000		$	277,500
2032 Notes (mature March 2032)	200,000			200,000
MARAD Debt (matures February 2027)	89,148			94,792
Nordea Q5000 Loan (matures April 2020)	232,143			—
Unamortized debt discount	(14,963		)	(20,920		)
Total debt	761,328			551,372
Less current maturities	(71,640		)	(28,144		)
Long-term debt	$	689,688		$	523,228

In May 2015 and in February 2016, we amended the Credit Agreement to revise the maximum permitted Consolidated Leverage Ratio as follows:



	Maximum Consolidated Leverage Ratio
Four Fiscal Quarters Ending	May 2015 Amendment		February 2016 Amendment

June 30, 2015	4.00	to 1.00	—
September 30, 2015 through and including March 31, 2016	4.50	to 1.00	5.50	to 1.00
June 30, 2016	4.50	to 1.00	5.25	to 1.00
September 30, 2016 through and including December 31, 2016	4.50	to 1.00	5.00	to 1.00
March 31, 2017	4.00	to 1.00	4.75	to 1.00
June 30, 2017	3.50	to 1.00	4.25	to 1.00
September 30, 2017	3.50	to 1.00	3.75	to 1.00
December 31, 2017 and each fiscal quarter thereafter	3.50	to 1.00	3.50	to 1.00

Also pursuant to the February 2016 amendment to the Credit Agreement,


(a)	The revolving credit facility commitment under the Credit Agreement decreased from $600 million to $400 million.


(b)	The minimum permitted Consolidated Interest Coverage Ratio was revised as follows:



Four Fiscal Quarters Ending	Minimum Consolidated Interest Coverage Ratio

March 31, 2016 through and including September 30, 2016	2.50	to 1.00
December 31, 2016 through and including March 31, 2017	2.75	to 1.00
June 30, 2017 and each fiscal quarter thereafter	3.00	to 1.00


(c)	We are required to maintain minimum cash balances based on Consolidated Leverage Ratio as follows:



Consolidated Leverage Ratio	Minimum Cash

Greater than or equal to 4.50x	$150,000,000.00
Greater than or equal to 4.00x but less than 4.50x	$100,000,000.00
Greater than or equal to 3.50x but less than 4.00x	$50,000,000.00
Less than 3.50x	$0.00

Components of deferred financing costs

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



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

Term Loan (matures June 2018)	$	3,638	$	(1,819	)	$	1,819	$	3,638	$	(1,091	)	$	2,547
Revolving Credit Facility (matures June 2018)	14,787		(6,924		)	7,863		13,275		(3,982		)	9,293
2032 Notes (mature March 2032)	3,759		(2,377		)	1,382		3,759		(1,763		)	1,996
MARAD Debt (matures February 2027)	12,200		(6,711		)	5,489		12,200		(6,223		)	5,977
Nordea Q5000 Loan (matures April 2020)	3,811		(508		)	3,303		3,586		—			3,586
Total deferred financing costs	$	38,195	$	(18,339	)	$	19,856	$	36,458	$	(13,059	)	$	23,399

Schedule of maturities of long-term debt outstanding

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



	Term Loan			2032 Notes ⁽¹⁾			MARAD Debt			Nordea Q5000 Loan			Total

Less than one year	$	30,000		$	—		$	5,926		$	35,714		$	71,640
One to two years	30,000			—			6,222			35,715			71,937
Two to three years	195,000			—			6,532			35,714			237,246
Three to four years	—			—			6,858			35,714			42,572
Four to five years	—			—			7,200			89,286			96,486
Over five years	—			200,000			56,410			—			256,410
Total debt	255,000			200,000			89,148			232,143			776,291
Current maturities	(30,000		)	—			(5,926		)	(35,714		)	(71,640		)
Long-term debt, less current maturities	225,000			200,000			83,222			196,429			704,651
Unamortized debt discount ⁽²⁾	—			(14,963		)	—			—			(14,963		)
Long-term debt	$	225,000		$	185,037		$	83,222		$	196,429		$	689,688


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


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

Components of net interest expense

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



	Year Ended December 31,
	2015			2014			2013

Interest expense ⁽¹⁾	$	40,024		$	33,064		$	44,484
Interest income	(2,068		)	(4,786		)	(1,167		)
Capitalized interest	(11,042		)	(10,419		)	(10,419		)
Net interest expense	$	26,914		$	17,859		$	32,898


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

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2015

Income Tax Disclosure [Abstract]

Schedule of components of income tax provision (benefit) on continuing operations

Components of income tax provision (benefit) on continuing operations reflected in the consolidated statements of operations consist of the following (in thousands):



	Year Ended December 31,
	2015			2014		2013

Current	$	1,832		$	43,817	$	57,128
Deferred	(103,022		)	23,154		(25,516		)
	$	(101,190	)	$	66,971	$	31,612



Domestic	$	(102,978	)	$	29,613	$	11,615
Foreign	1,788			37,358		19,997
	$	(101,190	)	$	66,971	$	31,612

Schedule of components of income (loss) before income taxes

Components of income (loss) before income taxes are as follows (in thousands):



	Year Ended December 31,
	2015			2014		2013

Domestic	$	(485,760	)	$	73,700	$	36,176
Foreign	7,590			188,821		107,412
	$	(478,170	)	$	262,521	$	143,588

Schedule of differences between the U.S. statutory rate and effective rate from continuing operations

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



	Year Ended December 31,
	2015		2014		2013

Statutory rate	35.0	%	35.0	%	35.0	%
Foreign provision	(13.7	)	(9.1	)	(11.6	)
Other	(0.1	)	(0.4	)	(1.4	)
Effective rate	21.2	%	25.5	%	22.0	%

Schedule of deferred income taxes



	December 31,
	2015			2014
Deferred tax liabilities:
Depreciation	$	173,863		$	211,903
Original Issue Discount on 2032 Notes	17,957			16,269
Equity investments in production facilities	8,029			50,685
Prepaid and other	1,883			4,211
Total deferred tax liabilities	$	201,732		$	283,068
Deferred tax assets:
Net operating losses	$	(23,595	)	$	(23,076	)
Reserves, accrued liabilities and other	(52,672		)	(53,973		)
Total deferred tax assets	(76,267		)	(77,049		)
Valuation allowance	1,936			23,076
Net deferred tax liabilities	$	127,401		$	229,095
Deferred income tax is presented as:
Current deferred tax assets	(53,573		)	(31,180		)
Non-current deferred tax liabilities	180,974			260,275
Net deferred tax liabilities	$	127,401		$	229,095

Reconciliation of beginning and ending amount of unrecognized tax benefits

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in thousands):



	2014			2013

Balance at January 1,	$	4,723		$	4,506
Additions for tax positions of prior years	—			217
Reductions for tax positions of prior years	(4,723		)	—
Balance at December 31,	$	—		$	4,723

Shareholders' Equity (Tables)

12 Months Ended

Dec. 31, 2015

Stockholders' Equity Note [Abstract]

Schedule of components of Accumulated OCI

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



	December 31,
	2015			2014

Cumulative foreign currency translation adjustment	$	(43,010	)	$	(30,161	)
Unrealized loss on hedges, net ⁽¹⁾	(27,891		)	(32,091		)
Accumulated other comprehensive loss	$	(70,901	)	$	(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 the Nordea Q5000 Loan, and are net of deferred income taxes totaling $15.1 million and $17.3 million as of December 31, 2015 and 2014, respectively (Note 18).

Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 2015

Earnings Per Share [Abstract]

Computations of basic and diluted EPS



	Year Ended December 31,
	2015				2014				2013
	Income			Shares	Income			Shares	Income			Shares
Basic:
Continuing operations:
Net income (loss) applicable to common shareholders	$	(376,980	)		$	195,047			$	109,922
Less: Income from discontinued operations, net of tax	—				—				(1,073		)
Net income (loss) from continuing operations	(376,980		)		195,047				108,849
Less: Undistributed income allocable to participating securities – continuing operations	—				(1,018		)		(801		)
Net income (loss) applicable to common shareholders – continuing operations	$	(376,980	)	105,416	$	194,029		105,029	$	108,048		105,032



Discontinued operations:
Income from discontinued operations, net of tax	$	—		$	—		$	1,073
Less: Undistributed income allocable to participating securities – discontinued operations	—			—			(8		)
Net income applicable to common shareholders – discontinued operations	$	—	105,416	$	—	105,029	$	1,065		105,032



Diluted:
Continuing operations:
Net income (loss) applicable to common shareholders – continuing operations	$	(376,980	)	105,416	$	194,029	105,029	$	108,048	105,032
Effect of dilutive securities:
Share-based awards other than participating securities	—			—	—		16	—		152
Undistributed income reallocated to participating securities	—			—	—		—	1		—
Net income (loss) applicable to common shareholders – continuing operations	$	(376,980	)	105,416	$	194,029	105,045	$	108,049	105,184

Discontinued operations:
Income from discontinued operations, net of tax	$	—		105,416	$	—	105,045	$	1,073	105,184

Schedule of shares excluded from the diluted per share calculations

Shares that otherwise would have been included in the diluted per share calculations for the year ended December 31, 2015, assuming we had earnings from continuing operations, are as follows (in thousands):



	2015

Diluted shares (as reported)	105,416
Share-based awards	59
Total	105,475

Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2015

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

Schedule of share-based awards

The following grants of share-based awards were made in 2015 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
April 1, 2015 ⁽³⁾	6,476	$	14.96	100% on January 1, 2017
July 1, 2015 ⁽³⁾	6,631	$	12.63	100% on January 1, 2017
October 1, 2015 ⁽³⁾	17,876	$	4.79	100% on January 1, 2017
December 3, 2015 ⁽⁴⁾	170,454	$	6.16	33% per year over three years


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


(2)	Reflects the grant of PSUs to our executive officers and select management employees.


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


(4)	Reflects annual equity grants to each independent member of our Board of Directors.

Summary of information about restricted stock

The following table summarizes information about our restricted stock:



	Year Ended December 31,
	2015				2014				2013
	Shares		Grant Date Fair Value ⁽¹⁾		Shares		Grant Date Fair Value ⁽¹⁾		Shares		Grant Date Fair Value ⁽¹⁾

Awards outstanding at beginning of year	554,960		$	17.54	771,942		$	13.62	1,191,402		$	14.14
Granted	501,076		15.57		139,455		23.22		168,468		21.63
Vested ^{(2) (3)}	(332,223	)	16.44		(356,437	)	11.27		(502,022	)	17.50
Forfeited	(62,689	)	20.93		—		—		(85,906	)	13.79
Awards outstanding at end of year ⁽³⁾	661,124		$	16.28	554,960		$	17.54	771,942		$	13.62


(1)	Represents the weighted average grant date fair value, which is based on the quoted closing market price of our common stock on the trading day prior to the date of grant.


(2)	Total fair value of restricted stock and RSUs that vested during the years ended December 31, 2015, 2014 and 2013 was $5.1 million, $8.2 million and $11.0 million, respectively.

(3)

Business Segment Information (Tables)

12 Months Ended

Dec. 31, 2015

Segment Reporting [Abstract]

Schedule of financial data by reportable segment

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



	Year Ended December 31,
	2015			2014			2013
Net revenues —
Well Intervention	$	373,301		$	667,849		$	452,452
Robotics	301,026			420,224			333,246
Production Facilities	75,948			93,175			88,149
Subsea Construction	—			358			71,321
Intercompany elimination	(54,473		)	(74,450		)	(68,607		)
Total	$	695,802		$	1,107,156		$	876,561



Income (loss) from operations —
Well Intervention ⁽¹⁾	$	(194,381	)	$	204,810		$	131,840
Robotics	27,832			68,329			44,132
Production Facilities ⁽²⁾	(106,847		)	41,138			49,778
Subsea Construction ⁽³⁾	(52		)	10,923			33,685
Corporate and other	(33,814		)	(62,523		)	(77,041		)
Intercompany elimination	(98		)	(921		)	(3,360		)
Total	$	(307,360	)	$	261,756		$	179,034



Net interest expense —
Well Intervention	$	(102	)	$	(252	)	$	(128	)
Robotics	29			(5		)	19
Production Facilities	385			384			380
Corporate and eliminations ⁽⁴⁾	26,602			17,732			32,627
Total	$	26,914		$	17,859		$	32,898

Equity in earnings (losses) of investments	$	(124,345	)	$	879		$	2,965



Income (loss) before income taxes —
Well Intervention ⁽¹⁾	$	(193,572	)	$	211,725		$	132,057
Robotics ⁽⁵⁾	2,454			61,025			44,342
Production Facilities ⁽²⁾	(231,577		)	41,633			52,363
Subsea Construction ⁽³⁾	53			11,201			33,205
Corporate and eliminations	(55,528		)	(63,063		)	(118,379		)
Total	$	(478,170	)	$	262,521		$	143,588



Income tax provision (benefit) —
Well Intervention	$	(1,230	)	$	50,102		$	26,718
Robotics	515			21,612			15,530
Production Facilities	(81,052		)	14,395			17,233
Subsea Construction	26			3,881			11,655
Corporate and eliminations	(19,449		)	(23,019		)	(39,524		)
Total	$	(101,190	)	$	66,971		$	31,612



	Year Ended December 31,
	2015		2014		2013
Identifiable assets —
Well Intervention	$	1,492,901	$	1,470,349	$	1,245,229
Robotics	274,926		299,701		282,373
Production Facilities	182,007		459,427		495,829
Subsea Construction	10,027		27,547		38,054
Corporate and other	452,091		443,674		482,795
Total	$	2,411,952	$	2,700,698	$	2,544,280



Capital expenditures —
Well Intervention	$	307,879		$	283,635	$	283,132
Robotics	10,700			51,348		39,655
Production Facilities	1,867			869		1,252
Corporate and other	(135		)	1,060		387
Total	$	320,311		$	336,912	$	324,426



Depreciation and amortization —
Well Intervention	$	66,095	$	57,570	$	44,619
Robotics	26,724		24,478		22,263
Production Facilities	21,340		21,278		17,193
Subsea Construction	—		—		8,651
Corporate and eliminations	6,242		6,019		5,809
Total	$	120,401	$	109,345	$	98,535


(1)	Amount in 2015 includes impairment charges of $205.2 million for the Helix 534 and $6.3 million for certain capitalized vessel project costs and a $16.4 million impairment charge on goodwill related to our U.K. well intervention reporting unit.


(2)	Amount in 2015 includes a $133.4 million impairment charge for the HP I.


(3)	Amount in 2014 includes the $10.5 million gain on the sale of our Ingleside spoolbase in January 2014. Amount in 2013 includes the $1.1 million loss on the sale of the Caesar in June 2013 and the $15.6 million gain on the sale of the Express in July 2013.


(4)	Amount in 2014 includes $16.9 million of income with $7.2 million from an insurance reimbursement related to asset retirement work previously performed and the remaining income associated with our overriding royalty interests in ERT’s Wang well, which commenced production in April 2013. Amount in 2013 includes the $12.1 million loss on early extinguishment of debt.


(5)	Amount in 2015 includes unrealized losses totaling $18.3 million on our foreign currency exchange contracts associated with the Grand Canyon, Grand Canyon II and Grand Canyon III chartered vessels.

Summary of intercompany segment revenues

Intercompany segment revenues are as follows (in thousands):



	Year Ended December 31,
	2015		2014		2013

Well Intervention	$	22,855	$	29,875	$	22,448
Robotics	31,618		44,575		41,169
Production Facilities	—		—		4,673
Subsea Construction	—		—		317
Total	$	54,473	$	74,450	$	68,607

Schedule of revenue by individually significant region

Revenues by individually significant region are as follows (in thousands):



	Year Ended December 31,
	2015		2014		2013

United States	$	298,391	$	403,994	$	345,525
North Sea ⁽¹⁾	263,438		504,016		403,816
Other	133,973		199,146		127,220
Total	$	695,802	$	1,107,156	$	876,561


(1)	Includes revenues of $187.7 million, $362.7 million and $327.1 million, respectively, which were from the U.K.

Schedule of property and equipment, net of accumulated depreciation, by individually significant region

The following table provides our property and equipment, net of accumulated depreciation, by individually significant geographic location of our assets (in thousands):



	December 31,
	2015		2014

United States	$	1,024,691	$	893,106
United Kingdom	352,740		355,996
Singapore ⁽¹⁾	112,313		434,319
Other	113,265		51,963
Total	$	1,603,009	$	1,735,384


(1)	Primarily includes vessels under construction.

Commitments and Contingencies and Other Matters (Tables)

12 Months Ended

Dec. 31, 2015

Commitments and Contingencies Disclosure [Abstract]

Schedule of future minimum rental payments

Future minimum rentals at December 31, 2015 are as follows (in thousands):



	Vessels		Facilities and Other		Total

2016	$	144,389	$	4,973	$	149,362
2017	160,215		4,805		165,020
2018	126,890		4,441		131,331
2019	122,004		4,460		126,464
2020	107,484		4,041		111,525
Thereafter	199,867		16,706		216,573
Total lease commitments	$	860,849	$	39,426	$	900,275

Statement Of Cash Flow Information (Tables)

12 Months Ended

Dec. 31, 2015

Supplemental Cash Flow Information [Abstract]

Schedule of supplemental cash flow information

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



	Year Ended December 31,
	2015		2014		2013

Interest paid, net of interest capitalized	$	14,555	$	11,628	$	39,040
Income taxes paid	$	16,905	$	70,509	$	113,331

Allowance Accounts (Tables)

12 Months Ended

Dec. 31, 2015

Valuation and Qualifying Accounts [Abstract]

Summary of activity in valuation accounts

The following table sets forth the activity in our valuation accounts for each of the three years in the period ended December 31, 2015 (in thousands):



	Allowance for Uncollectible Accounts			Deferred Tax Asset Valuation Allowance

Balance at December 31, 2012	$	5,152		$	16,391
Additions ⁽¹⁾	2,236			—
Adjustments ^{(2) (3)}	(5,154		)	6,469
Balance at December 31, 2013	2,234			22,860
Additions ⁽¹⁾	5,331			—
Deductions ⁽⁴⁾	(2,830		)	—
Adjustments	—			216
Balance at December 31, 2014	4,735			23,076
Additions ⁽¹⁾	3,275			—
Deductions ⁽⁴⁾	(7,660		)	—
Adjustments ⁽⁵⁾	—			(21,140		)
Balance at December 31, 2015	$	350		$	1,936


(1)	The increase in allowance for uncollectible accounts primarily reflects charges associated with the provision for uncertain collection of a portion of our existing trade receivables related to our Robotics segment.


(2)	The decrease in allowance for uncollectible accounts primarily reflects the reversal of a $4.0 million allowance against our trade receivables for work performed offshore India in 2007 as we collected the previously adjusted receivable balance pursuant to a settlement agreement.


(3)	The increase in valuation allowance includes $6.5 million related to our net operating losses generated in Australia.


(4)	The decrease in allowance for uncollectible accounts reflects the write-offs of trade receivables that are either settled or deemed uncollectible.


(5)	The decrease in valuation allowance primarily reflects a $20.6 million reduction related to the loss of deferred tax assets for net operating losses within our Australian subsidiaries.

Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2015

Fair Value Disclosures [Abstract]

Schedule of other financial instruments 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 December 31, 2015 Using								Valuation Technique
	Level 1		Level 2 ⁽¹⁾		Level 3		Total		Valuation Technique
Assets:
Interest rate swaps	$	—	$	413	$	—	$	413	(c)

Liabilities:
Foreign exchange contracts	—		61,427		—		61,427		(c)
Interest rate swaps	—		1,473		—		1,473		(c)
Total net liability	$	—	$	62,487	$	—	$	62,487



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

Liabilities:
Foreign exchange contracts	—		50,428		—		50,428		(c)
Interest rate swaps	—		561		—		561		(c)
Total net liability	$	—	$	50,620	$	—	$	50,620

(1)

Schedule of carrying values and estimated fair values of long-term debt

The carrying values and estimated fair values of our long-term debt are as follows (in thousands):



	December 31,
	2015				2014
	Carrying Value		Fair Value ⁽²⁾		Carrying Value		Fair Value ⁽²⁾

Term Loan (matures June 2018)	$	255,000	$	248,467	$	277,500	$	270,563
Nordea Q5000 Loan (matures April 2020)	232,143		221,553		—		—
MARAD Debt (matures February 2027)	89,148		104,897		94,792		104,830
2032 Notes (mature March 2032) ⁽¹⁾	200,000		150,250		200,000		222,900
Total debt	$	776,291	$	725,167	$	572,292	$	598,293


(1)	Carrying amount excludes the related unamortized debt discount of $15.0 million and $20.9 million at December 31, 2015 and 2014, respectively.

(2)

Derivative Instruments and Hedging Activities (Tables)

12 Months Ended

Dec. 31, 2015

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of fair value and balance sheet classification of derivative instruments 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):



	December 31,
	2015			2014
	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
Asset Derivatives:
Interest rate swaps	Other assets, net	$	413	Other assets, net	$	369
		$	413		$	369

Liability Derivatives:
Foreign exchange contracts	Accrued liabilities	$	14,955	Accrued liabilities	$	12,661
Interest rate swaps	Accrued liabilities	1,473		Accrued liabilities	561
Foreign exchange contracts	Other non-current liabilities	28,458		Other non-current liabilities	37,767
		$	44,886		$	50,989

Schedule of fair value and balance sheet classification of derivative instruments not designated as hedging instruments

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



	December 31,
	2015			2014
	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
Liability Derivatives:
Foreign exchange contracts	Accrued liabilities	$	6,763	Accrued liabilities	$	—
Foreign exchange contracts	Other non-current liabilities	11,251		Other non-current liabilities	—
		$	18,014		$	—

Schedule of impact of derivative instruments on Accumulated OCI



	Gain (Loss) Recognized in OCI on Derivatives, Net of Tax (Effective Portion)
	Year Ended December 31,
	2015			2014			2013

Foreign exchange contracts	$	4,734		$	(22,170	)	$	(9,796	)
Interest rate swaps	(534		)	70			(195		)
	$	4,200		$	(22,100	)	$	(9,991	)

Schedule of loss reclassified from Accumulated OCI into Earnings



	Location of Loss Reclassified from Accumulated OCI into Earnings	Loss Reclassified from Accumulated OCI into Earnings (Effective Portion)
		Year Ended December 31,
		2015			2014			2013

Foreign exchange contracts	Cost of sales	$	(11,516	)	$	(2,507	)	$	(1,324	)
Interest rate swaps	Net interest expense	(2,143		)	(858		)	(152		)
		$	(13,659	)	$	(3,365	)	$	(1,476	)

Schedule of impact of derivative instruments not designated as hedges on consolidated statement of operations

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



	Location of Gain (Loss) Recognized in Earnings on Derivatives	Gain (Loss) Recognized in Earnings on Derivatives
		Year Ended December 31,
		2015			2014		2013

Oil and gas commodity contracts	Loss on commodity derivative contracts	$	—		$	—	$	(14,113	)
Interest rate swaps	Other income (expense), net	—			—		(86		)
Foreign exchange contracts	Other income (expense), net	(18,014		)	7		(630		)
		$	(18,014	)	$	7	$	(14,829	)

Quarterly Financial Information (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2015

Quarterly Financial Information Disclosure [Abstract]

Summary of consolidated quarterly financial information

The following is a summary of consolidated quarterly financial information (in thousands, except per share amounts):



	Quarter Ended
	March 31,		June 30,			September 30,		December 31,
2015
Net revenues	$	189,641	$	166,016		$	182,462	$	157,683
Gross profit (loss) ⁽¹⁾	$	34,947	$	24,208		$	31,969	$	(324,898	)
Net income (loss) applicable to common shareholders ⁽²⁾	$	19,642	$	(2,635	)	$	9,880	$	(403,867	)
Basic earnings (loss) per common share	$	0.19	$	(0.03	)	$	0.09	$	(3.83	)
Diluted earnings (loss) per common share	$	0.19	$	(0.03	)	$	0.09	$	(3.83	)



	Quarter Ended
	March 31,		June 30,		September 30,		December 31,
2014
Net revenues	$	253,572	$	305,587	$	340,837	$	207,160
Gross profit	75,846		109,138		126,247		32,805
Net income applicable to common shareholders	$	53,719	$	57,782	$	75,586	$	7,960
Basic earnings per common share	$	0.51	$	0.55	$	0.72	$	0.08
Diluted earnings per common share	$	0.51	$	0.55	$	0.71	$	0.08


(1)	Amount in the fourth quarter of 2015 includes impairment charges of $205.2 million for the Helix 534 and $133.4 million for the HP I and $6.3 million for certain capitalized vessel project costs (Note 4).

(2)

Organization (Details) $ in Millions	1 Months Ended			12 Months Ended
Organization (Details) $ in Millions	Feb. 29, 2016 USD ($)	Feb. 28, 2014 vessel	Feb. 28, 2013 USD ($)	Dec. 31, 2015 segment vessel
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of reportable segments \| segment				3
Segment Reporting Information [Line Items]
Proceeds from sale of business \| $			$ 624
Deepwater Gateway, LLC [Member] \| Subsequent Event [Member]
Segment Reporting Information [Line Items]
Sale of ownership interest for cash \| $	$ 25
Robotics [Member]
Segment Reporting Information [Line Items]
Number of chartered vessels				4
Monohull Vessels [Member]
Segment Reporting Information [Line Items]
Number of vessels under construction		2
Monohull Vessels [Member] \| Well Intervention [Member]
Segment Reporting Information [Line Items]
Number of vessels under construction				2

Summary of Significant Accounting Policies - Principles of Consolidation (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Feb. 28, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Noncontrolling interest, ownership percentage by noncontrolling owners	19.00%
Acquisition of noncontrolling interests	$ 20,100	$ 0	$ 20,085	$ 0

Summary of Significant Accounting Policies - Property and Equipment (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Accounting Policies [Abstract]
Cost of property repairs and maintenance	$ 32.8	$ 44.6	$ 31.5

Summary of Significant Accounting Policies - Goodwill (Details) $ in Thousands		3 Months Ended	12 Months Ended
	Nov. 01, 2015 segment	Dec. 31, 2015 USD ($)	Dec. 31, 2015 USD ($)	Dec. 31, 2014 USD ($)	Dec. 31, 2013 USD ($)
Accounting Policies [Abstract]
Number of reporting units \| segment	2
Goodwill [Line Items]
Goodwill impairment			$ 16,399	$ 0	$ 0
Well Intervention [Member]
Goodwill [Line Items]
Goodwill impairment		$ 16,400	$ 16,399

Summary of Significant Accounting Policies - Recertification Costs and Deferred Dry Dock Charges (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Finite-Lived Intangible Assets [Line Items]
Deferred dry dock expenses, net	$ 19,615	$ 11,631
Accumulated amortization deferred dry dock	18,300	7,500
Dry dock amortization expense	$ 10,800	$ 14,100	$ 14,800
Minimum [Member]
Finite-Lived Intangible Assets [Line Items]
Dry dock amortization period	30 months
Dry dock recertification process period	1 month
Maximum [Member]
Finite-Lived Intangible Assets [Line Items]
Dry dock amortization period	60 months
Dry dock recertification process period	2 months

Summary of Significant Accounting Policies - Foreign Currency (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Accounting Policies [Abstract]
Foreign currency translation losses included in Accumulated other comprehensive loss	$ 12,849	$ 19,464	$ (4,970)
Foreign currency transaction gains (losses)	$ (1,200)	$ 2,500	$ 700

Summary of Significant Accounting Policies - Major Customers and Concentration of Credit Risk (Details)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Shell [Member]
Revenue, Major Customer [Line Items]
Percentage of concentration risk	16.00%		14.00%
Anadarko [Member]
Revenue, Major Customer [Line Items]
Percentage of concentration risk		13.00%
Talos [Member]
Revenue, Major Customer [Line Items]
Percentage of concentration risk	11.00%

Summary of Significant Accounting Policies - Asset Retirement Obligations (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Proceeds from insurance reimbursement	$ 7.2
Gulf of Mexico Oil and Gas Properties [Member]
Asset retirement obligation, cash paid to settle		$ 5.2

Details of Certain Accounts - Other Current Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Note receivable (Note 4)	$ 10,000	$ 17,500
Other receivables	426	423
Prepaid insurance	5,433	6,582
Other prepaids	10,751	15,541
Spare parts inventory	4,985	1,857
Value added tax receivable	7,842	9,326
Other	81	72
Total other current assets	$ 39,518	$ 51,301

Details of Certain Accounts - Other Assets, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014	Nov. 30, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Note receivable (Note 4)	$ 0	$ 10,000
Deferred dry dock expenses, net (Note 2)	19,615	11,631
Deferred financing costs, net (Note 7)	19,856	23,399
Intangible assets with finite lives, net	781	696
Charter fee deposit (Note 14)	12,544	12,544	$ 12,500
Other	805	1,002
Total other assets, net	$ 53,601	$ 59,272

Details of Certain Accounts - Accrued Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accrued payroll and related benefits	$ 14,775	$ 61,246
Current asset retirement obligations	553	575
Unearned revenue	12,841	11,461
Accrued interest	4,854	4,221
Derivative liability (Note 18)	23,192	13,222
Taxes payable excluding income tax payable	8,136	6,236
Other	7,290	7,962
Total accrued liabilities	$ 71,641	$ 104,923

Details of Certain Accounts - Other Non-current Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Loss in excess of equity investment (Note 5)	$ 8,308	$ 0
Derivative liability (Note 18)	39,709	37,767
Other	3,398	341
Total other non-current liabilities	$ 51,415	$ 38,108

Property and Equipment - Gross Components of Property and Equipment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Property, Plant and Equipment [Line Items]
Property and equipment	$ 2,544,857	$ 2,241,444
Vessels [Member]
Property, Plant and Equipment [Line Items]
Property and equipment	$ 1,944,753	1,657,448
Vessels [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Life	15 years
Vessels [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Life	30 years
ROVs, trenchers and ROVDrills [Member]
Property, Plant and Equipment [Line Items]
Property and equipment	$ 311,971	310,841
Estimated Useful Life	10 years
Machinery, equipment, buildings and leasehold improvements [Member]
Property, Plant and Equipment [Line Items]
Property and equipment	$ 288,133	$ 273,155
Machinery, equipment, buildings and leasehold improvements [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Life	5 years
Machinery, equipment, buildings and leasehold improvements [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Life	30 years

Property and Equipment - Narrative (Details) $ in Thousands	1 Months Ended							3 Months Ended	12 Months Ended
Property and Equipment - Narrative (Details) $ in Thousands	Jan. 31, 2016 USD ($) renewal_option	Dec. 31, 2015 USD ($)	Jan. 31, 2015 USD ($)	Dec. 31, 2014 USD ($)	Jan. 31, 2014 USD ($)	Jul. 31, 2013 USD ($)	Jun. 30, 2013 USD ($)	Dec. 31, 2015 USD ($)	Dec. 31, 2016 USD ($)	Dec. 31, 2015 USD ($)	Dec. 31, 2014 USD ($)	Dec. 31, 2013 USD ($)
Property, Plant and Equipment [Line Items]
Proceeds from sale of assets										$ 17,592	$ 13,574	$ 189,054
Impairment charges										$ 345,010	$ 0	$ 0
Subsequent Event [Member] \| Scotland [Member]
Property, Plant and Equipment [Line Items]
Term of agreement	15 years
Number of renewal options \| renewal_option	2
Term of renewal option	5 years
Caesar [Member]
Property, Plant and Equipment [Line Items]
Proceeds from sale of assets							$ 138,300
(Loss) gain on sale of assets							$ (1,100)
Express [Member]
Property, Plant and Equipment [Line Items]
Proceeds from sale of assets						$ 100,000
(Loss) gain on sale of assets						$ 15,600
Spoolbase Facility [Member]
Property, Plant and Equipment [Line Items]
Proceeds from sale of assets					$ 15,000
Sales price of property and equipment					45,000
Note receivable					$ 30,000
Note receivable, interest rate		6.00%						6.00%		6.00%
Note receivable, periodic principal payment		$ 10,000	$ 7,500	$ 2,500
Spoolbase Facility [Member] \| Forecast [Member] \| Subsequent Event [Member]
Property, Plant and Equipment [Line Items]
Note receivable, periodic principal payment									$ 10,000
Helix 534 [Member]
Property, Plant and Equipment [Line Items]
Impairment charges								$ 205,200		$ 205,200
Estimated fair value		1,000						1,000		1,000
Write off of deferred dry dock costs		9,000						9,000		9,000
HP I [Member]
Property, Plant and Equipment [Line Items]
Impairment charges								133,400		133,400
Estimated fair value		$ 124,300						124,300		124,300
Capitalized Vessel Project Costs [Member]
Property, Plant and Equipment [Line Items]
Impairment charges to write off capitalized costs								$ 6,300		$ 6,300
Office and Warehouse Property [Member] \| Subsequent Event [Member] \| Scotland [Member]
Property, Plant and Equipment [Line Items]
Gain from sale of property	$ 11,000

Equity Investments - Narrative (Details) ft in Thousands	1 Months Ended				12 Months Ended
Equity Investments - Narrative (Details) ft in Thousands	Feb. 29, 2016 USD ($)	Dec. 31, 2015 USD ($)	Jul. 31, 2015 USD ($)	Dec. 31, 2004 USD ($)	Dec. 31, 2015 USD ($) ft	Dec. 31, 2014 USD ($)	Dec. 31, 2013 USD ($)
Schedule of Equity Method Investments [Line Items]
Equity investments in unconsolidated affiliates		$ 26,200,000			$ 26,200,000	$ 149,623,000
Loss from equity method investments					124,345,000	(879,000)	$ (2,965,000)
Amount loss exceeded carrying amount of investment		$ 8,308,000			$ 8,308,000	0
Consideration transferred for business sold			$ 1,500,000,000
Deepwater Gateway, LLC [Member]
Schedule of Equity Method Investments [Line Items]
Percentage of ownership interest		50.00%			50.00%
Equity investments in unconsolidated affiliates		$ 26,200,000			$ 26,200,000	80,900,000
Capitalized interest		1,200,000			1,200,000	1,200,000
Loss from equity method investments					49,400,000
Impairment charge		96,700,000
Estimated fair value		70,800,000			70,800,000
Asset retirement obligation		$ 20,800,000			$ 20,800,000
Deepwater Gateway, LLC [Member] \| Subsequent Event [Member]
Schedule of Equity Method Investments [Line Items]
Cash distributions	$ 1,200,000
Sale of ownership interest for cash	$ 25,000,000
Independence Hub, LLC [Member]
Schedule of Equity Method Investments [Line Items]
Percentage of ownership interest		20.00%			20.00%
Equity investments in unconsolidated affiliates						68,800,000
Capitalized interest		$ 3,600,000			$ 3,600,000	$ 3,900,000
Loss from equity method investments					$ 74,900,000
Participation fee				$ 1,000,000
Water depth (in feet) \| ft					8
Amount loss exceeded carrying amount of investment		8,300,000			$ 8,300,000
Impairment charge		343,300,000
Estimated fair value		0			0
Asset retirement obligation		42,100,000			42,100,000
Asset retirement obligation, net of remaining working capital		$ 8,300,000			$ 8,300,000

Equity Investments - Distributions from Equity Investment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Schedule of Equity Method Investments [Line Items]
Distributions from equity method investments	$ 7,000	$ 8,790	$ 12,260
Deepwater Gateway, LLC [Member]
Schedule of Equity Method Investments [Line Items]
Distributions from equity method investments	5,200	6,150	7,600
Independence Hub, LLC [Member]
Schedule of Equity Method Investments [Line Items]
Distributions from equity method investments	$ 1,800	$ 2,640	$ 4,660

Equity Investments - Summarized Financial Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Equity Method Investment, Summarized Financial Information, Income Statement [Abstract]
Revenues	$ 14,791	$ 23,284	$ 32,943
Operating income (loss)	(448,138)	411	10,058
Net income (loss)	(448,138)	411	$ 10,058
Equity Method Investment, Summarized Financial Information, Balance Sheet [Abstract] [Abstract]
Current assets	3,181	7,898
Non-current assets	70,812	475,789
Current liabilities	180	50
Non-current liabilities	$ 62,951	$ 5,237

- Definition

The amount of current liabilities reported by an equity method investment of the entity.

+ References + Details

- Definition

The amount of net income (loss) reported by an equity method investment of the entity.

+ References + Details

- Definition

The amount of noncurrent assets reported by an equity method investment of the entity.

+ References + Details

- Definition

The amount of noncurrent liabilities reported by an equity method investment of the entity.

+ References + Details

Goodwill (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
Goodwill (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Goodwill [Roll Forward]
Balance at beginning of period		$ 62,146	$ 63,230
Impairment loss		(16,399)	0	$ 0
Other adjustments		(640)	(1,084)
Balance at end of period	$ 45,107	45,107	62,146	63,230
Well Intervention [Member]
Goodwill [Roll Forward]
Balance at beginning of period		17,039	18,123
Impairment loss	(16,400)	(16,399)
Other adjustments		(640)	(1,084)
Balance at end of period	0	0	17,039	18,123
Robotics [Member]
Goodwill [Roll Forward]
Balance at beginning of period		45,107	45,107
Impairment loss			0
Other adjustments		0	0
Balance at end of period	$ 45,107	$ 45,107	$ 45,107	$ 45,107

Long-Term Debt - Schedule of Long-Term Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014	Mar. 31, 2012
Debt Instrument [Line Items]
Carrying Value	$ 776,291
Unamortized debt discount	(14,963)
Total debt	761,328	$ 551,372
Less current maturities	(71,640)	(28,144)
Long-term debt	689,688	523,228
Term Loan Maturing June 2018 [Member]
Debt Instrument [Line Items]
Carrying Value	255,000	277,500
Unamortized debt discount	0
Less current maturities	(30,000)
Long-term debt	225,000
Convertible Senior Notes 2032 [Member]
Debt Instrument [Line Items]
Carrying Value	200,000	200,000	$ 200,000
Unamortized debt discount	(14,963)	(20,920)	$ (35,400)
Less current maturities	0
Long-term debt	185,037
MARAD Debt 2027 [Member]
Debt Instrument [Line Items]
Carrying Value	89,148	94,792
Unamortized debt discount	0
Less current maturities	(5,926)
Long-term debt	83,222
Nordea Q5000 Loan 2020 [Member]
Debt Instrument [Line Items]
Carrying Value	232,143	$ 0
Unamortized debt discount	0
Less current maturities	(35,714)
Long-term debt	$ 196,429

Long-Term Debt - Credit Agreement (Details)	1 Months Ended	12 Months Ended
Long-Term Debt - Credit Agreement (Details)	Jun. 30, 2013 USD ($)	Dec. 31, 2015 USD ($) foreign_subsidiary	Feb. 29, 2016 USD ($)	Sep. 30, 2013 USD ($)
Debt Instrument [Line Items]
Number of foreign subsidiaries designated as not subject to Credit Agreement covenants \| foreign_subsidiary		5
Interest Rate Swaps [Member]
Debt Instrument [Line Items]
Notional amount				$ 148,100,000
Term Loan Maturing June 2018 [Member]
Debt Instrument [Line Items]
Original borrowing capacity	$ 300,000,000
Balloon payment	$ 180,000,000
Maturity date	Jun. 19, 2018
Term Loan Maturing June 2018 [Member] \| Interest Rate Swaps [Member]
Debt Instrument [Line Items]
Notional amount				$ 148,100,000
Lower range of fixed LIBOR rate (as a percent)				0.74%
Higher range of fixed LIBOR rate (as a percent)				0.75%
Term Loan Maturing June 2018 [Member] \| LIBOR [Member]
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)		2.75%
Term Loan Maturing June 2018 [Member] \| Years One And Two [Member]
Debt Instrument [Line Items]
Percentage of scheduled principal installments	5.00%
Scheduled principal installments	$ 15,000,000
Term Loan Maturing June 2018 [Member] \| Years Three Through Five [Member]
Debt Instrument [Line Items]
Percentage of scheduled principal installments	10.00%
Scheduled principal installments	$ 30,000,000
Term Loan Maturing June 2018 [Member] \| Minimum [Member] \| Base Rate [Member]
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)		1.00%
Term Loan Maturing June 2018 [Member] \| Minimum [Member] \| LIBOR [Member]
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)		2.00%
Term Loan Maturing June 2018 [Member] \| Maximum [Member] \| Base Rate [Member]
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)		3.00%
Term Loan Maturing June 2018 [Member] \| Maximum [Member] \| LIBOR [Member]
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)		4.00%
Revolving Credit Facility Maturing June 2018 [Member]
Debt Instrument [Line Items]
Original borrowing capacity	600,000,000
Increase in aggregate commitments (up to)	$ 200,000,000
Available borrowing capacity		$ 249,400,000
Letters of credit issued		$ 13,200,000
Commitment fee percentage		0.50%
Revolving Credit Facility Maturing June 2018 [Member] \| Subsequent Event [Member]
Debt Instrument [Line Items]
Original borrowing capacity			$ 400,000,000

Long-Term Debt - Schedule of Consolidated Leverage Ratio (Details) - Line of Credit [Member]	Feb. 29, 2016	May 31, 2015
June 30, 2015 [Member] \| May 2015 Amendment [Member]
Debt Instrument [Line Items]
Maximum Consolidated Leverage Ratio		4.00
September 30, 2015 through and including March 31, 2016 [Member] \| May 2015 Amendment [Member]
Debt Instrument [Line Items]
Maximum Consolidated Leverage Ratio		4.5
September 30, 2015 through and including March 31, 2016 [Member] \| February 2016 Amendment [Member] \| Subsequent Event [Member]
Debt Instrument [Line Items]
Maximum Consolidated Leverage Ratio	5.5
June 30, 2016 [Member] \| May 2015 Amendment [Member]
Debt Instrument [Line Items]
Maximum Consolidated Leverage Ratio		4.5
June 30, 2016 [Member] \| February 2016 Amendment [Member] \| Subsequent Event [Member]
Debt Instrument [Line Items]
Maximum Consolidated Leverage Ratio	5.25
September 30, 2016 through and including December 31, 2016 [Member] \| May 2015 Amendment [Member]
Debt Instrument [Line Items]
Maximum Consolidated Leverage Ratio		4.5
September 30, 2016 through and including December 31, 2016 [Member] \| February 2016 Amendment [Member] \| Subsequent Event [Member]
Debt Instrument [Line Items]
Maximum Consolidated Leverage Ratio	5
March 31, 2017 [Member] \| May 2015 Amendment [Member]
Debt Instrument [Line Items]
Maximum Consolidated Leverage Ratio		4
March 31, 2017 [Member] \| February 2016 Amendment [Member] \| Subsequent Event [Member]
Debt Instrument [Line Items]
Maximum Consolidated Leverage Ratio	4.75
June 30, 2017 [Member] \| May 2015 Amendment [Member]
Debt Instrument [Line Items]
Maximum Consolidated Leverage Ratio		3.5
June 30, 2017 [Member] \| February 2016 Amendment [Member] \| Subsequent Event [Member]
Debt Instrument [Line Items]
Maximum Consolidated Leverage Ratio	4.25
September 30, 2017 [Member] \| May 2015 Amendment [Member]
Debt Instrument [Line Items]
Maximum Consolidated Leverage Ratio		3.5
September 30, 2017 [Member] \| February 2016 Amendment [Member] \| Subsequent Event [Member]
Debt Instrument [Line Items]
Maximum Consolidated Leverage Ratio	3.75
December 31, 2017 and each fiscal quarter thereafter [Member] \| May 2015 Amendment [Member]
Debt Instrument [Line Items]
Maximum Consolidated Leverage Ratio		3.5
December 31, 2017 and each fiscal quarter thereafter [Member] \| February 2016 Amendment [Member] \| Subsequent Event [Member]
Debt Instrument [Line Items]
Maximum Consolidated Leverage Ratio	3.5

Long-Term Debt - Schedule of Consolidated Interest Coverage Ratio (Details) - Subsequent Event [Member] - Line of Credit [Member] - February 2016 Amendment [Member]	Feb. 29, 2016
March 31, 2016 through and including September 30, 2016 [Member]
Debt Instrument [Line Items]
Minimum Consolidated Interest Coverage Ratio	2.5
December 31, 2016 through and including March 31, 2017 [Member]
Debt Instrument [Line Items]
Minimum Consolidated Interest Coverage Ratio	2.75
June 30, 2017 and each fiscal quarter thereafter [Member]
Debt Instrument [Line Items]
Minimum Consolidated Interest Coverage Ratio	3

Long-Term Debt - Schedule of Consolidated Leverage Ratio Cash Balances (Details) - Subsequent Event [Member] - Line of Credit [Member] - February 2016 Amendment [Member]	Feb. 29, 2016 USD ($)
Greater than or equal to 4.50x [Member]
Debt Instrument [Line Items]
Minimum Cash	$ 150,000,000.00
Greater than or equal to 4.00x but less than 4.50x [Member]
Debt Instrument [Line Items]
Minimum Cash	100,000,000.00
Greater than or equal to 3.50x but less than 4.00x [Member]
Debt Instrument [Line Items]
Minimum Cash	50,000,000.00
Less than 3.50x [Member]
Debt Instrument [Line Items]
Minimum Cash	$ 0.00

Long-Term Debt - Convertible Senior Notes Dues 2032 (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended
	Mar. 31, 2012	Dec. 31, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Principal amount		$ 776,291
Unamortized debt discount		14,963
Convertible Senior Notes 2032 [Member]
Debt Instrument [Line Items]
Principal amount	$ 200,000	200,000	$ 200,000
Interest rate (as a percent)	3.25%
Frequency of periodic payment	semi-annually
Maturity date	Mar. 15, 2032
Initial conversion ratio	0.0399752
Initial conversion price per share (in dollars per share)	$ 25.02
Redemption price as a percentage of principal amount	100.00%
Repurchase price as a percentage of principal amount	100.00%
Expected life used to estimate fair value	6 years
Effective interest rate (as a percent)	6.90%
Carrying amount of equity component	$ 22,500
Unamortized debt discount	$ 35,400	$ 14,963	$ 20,920

Long-Term Debt - MARAD Debt (Details) - MARAD Debt 2027 [Member]	1 Months Ended
	Aug. 31, 2002	Sep. 30, 2005
Debt Instrument [Line Items]
Frequency of periodic payment	semi-annual
Maturity date	February 2027
Guarantor obligations (as a percent)	50.00%
Basis spread on variable rate (as a percent)	0.20%
Interest rate (as a percent)		4.93%

Long-Term Debt - Nordea Credit Agreement (Details) - USD ($)	1 Months Ended		8 Months Ended	12 Months Ended
	Apr. 30, 2015	Sep. 30, 2014	Apr. 29, 2015	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Jun. 30, 2015	Sep. 30, 2013
Debt Instrument [Line Items]
Funded amount				$ 250,000,000	$ 0	$ 0
Interest Rate Swaps [Member]
Debt Instrument [Line Items]
Notional amount								$ 148,100,000
Nordea Q5000 Loan 2020 [Member]
Debt Instrument [Line Items]
Original borrowing capacity		$ 250,000,000
Funded amount	$ 250,000,000
Commitment fee percentage			0.875%
Maturity date		Apr. 30, 2020
Scheduled principal installments		$ 8,900,000
Frequency of periodic payment		quarterly
Balloon payment		$ 80,400,000
Nordea Q5000 Loan 2020 [Member] \| Interest Rate Swaps [Member]
Debt Instrument [Line Items]
Notional amount							$ 187,500,000
Lower range of fixed LIBOR rate (as a percent)							1.49%
Higher range of fixed LIBOR rate (as a percent)							1.52%
Nordea Q5000 Loan 2020 [Member] \| LIBOR [Member]
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)		2.50%

Long-Term Debt - Other (Details) - USD ($) $ in Thousands	12 Months Ended
Long-Term Debt - Other (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Debt Instrument [Line Items]
Charge to accelerate deferred financing costs	$ 5,664	$ 4,870	$ 5,187
Loss on early extinguishment of debt	0	0	12,100
Deferred financing costs	$ 1,737	$ 3,586	10,954
Former Term Loan [Member]
Debt Instrument [Line Items]
Charge to accelerate deferred financing costs			3,500
Senior Unsecured Notes [Member]
Debt Instrument [Line Items]
Charge to accelerate deferred financing costs			2,100
Loss on early extinguishment of debt			8,600
Call premium			$ 6,500

Long-Term Debt - Schedule of Deferred Financing Costs (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Gross Carrying Amount	$ 38,195	$ 36,458
Accumulated Amortization	(18,339)	(13,059)
Gross Carrying Amount	19,856	23,399
Term Loan Maturing June 2018 [Member]
Debt Instrument [Line Items]
Gross Carrying Amount	3,638	3,638
Accumulated Amortization	(1,819)	(1,091)
Gross Carrying Amount	1,819	2,547
Revolving Credit Facility Maturing June 2018 [Member]
Debt Instrument [Line Items]
Gross Carrying Amount	14,787	13,275
Accumulated Amortization	(6,924)	(3,982)
Gross Carrying Amount	7,863	9,293
Convertible Senior Notes 2032 [Member]
Debt Instrument [Line Items]
Gross Carrying Amount	3,759	3,759
Accumulated Amortization	(2,377)	(1,763)
Gross Carrying Amount	1,382	1,996
MARAD Debt 2027 [Member]
Debt Instrument [Line Items]
Gross Carrying Amount	12,200	12,200
Accumulated Amortization	(6,711)	(6,223)
Gross Carrying Amount	5,489	5,977
Nordea Q5000 Loan 2020 [Member]
Debt Instrument [Line Items]
Gross Carrying Amount	3,811	3,586
Accumulated Amortization	(508)	0
Gross Carrying Amount	$ 3,303	$ 3,586

Long-Term Debt - Maturities of Long-Term Debt (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Aug. 31, 2002	Dec. 31, 2015	Dec. 31, 2014	Mar. 31, 2012
Debt Instrument [Line Items]
Less than one year		$ 71,640
One to two years		71,937
Two to three years		237,246
Three to four years		42,572
Four to five years		96,486
Over five years		256,410
Total debt		776,291
Less current maturities		(71,640)	$ (28,144)
Long-term debt, less current maturities		704,651
Unamortized debt discount		(14,963)
Long-term debt		689,688	523,228
Term Loan Maturing June 2018 [Member]
Debt Instrument [Line Items]
Less than one year		30,000
One to two years		30,000
Two to three years		195,000
Three to four years		0
Four to five years		0
Over five years		0
Total debt		255,000	277,500
Less current maturities		(30,000)
Long-term debt, less current maturities		225,000
Unamortized debt discount		0
Long-term debt		225,000
Convertible Senior Notes 2032 [Member]
Debt Instrument [Line Items]
Less than one year		0
One to two years		0
Two to three years		0
Three to four years		0
Four to five years		0
Over five years		200,000
Total debt		200,000	200,000	$ 200,000
Less current maturities		0
Long-term debt, less current maturities		200,000
Unamortized debt discount		(14,963)	(20,920)	$ (35,400)
Long-term debt		$ 185,037
Maturity date		March 2032
MARAD Debt 2027 [Member]
Debt Instrument [Line Items]
Less than one year		$ 5,926
One to two years		6,222
Two to three years		6,532
Three to four years		6,858
Four to five years		7,200
Over five years		56,410
Total debt		89,148	94,792
Less current maturities		(5,926)
Long-term debt, less current maturities		83,222
Unamortized debt discount		0
Long-term debt		83,222
Maturity date	February 2027
Nordea Q5000 Loan 2020 [Member]
Debt Instrument [Line Items]
Less than one year		35,714
One to two years		35,715
Two to three years		35,714
Three to four years		35,714
Four to five years		89,286
Over five years		0
Total debt		232,143	$ 0
Less current maturities		(35,714)
Long-term debt, less current maturities		196,429
Unamortized debt discount		0
Long-term debt		$ 196,429

Long-Term Debt - Interest Expense and Capitalized Interest (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Debt Instrument [Line Items]
Interest expense	$ 40,024	$ 33,064	$ 44,484
Interest income	(2,068)	(4,786)	(1,167)
Capitalized interest	(11,042)	(10,419)	(10,419)
Net interest expense	$ 26,914	$ 17,859	32,898
Energy Resource Technology GOM, Inc [Member]
Debt Instrument [Line Items]
Interest expense			$ 2,800

Income Taxes - Schedule of Components of Income Tax Provision (Benefit) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Income Tax Disclosure [Abstract]
Current	$ 1,832	$ 43,817	$ 57,128
Deferred	(103,022)	23,154	(25,516)
Income tax provision (benefit)	$ (101,190)	$ 66,971	$ 31,612

Income Taxes - Schedule of Components of Income Tax Provision (Benefit) by Jurisdiction (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Income Tax Disclosure [Abstract]
Domestic	$ (102,978)	$ 29,613	$ 11,615
Foreign	1,788	37,358	19,997
Income tax provision (benefit)	$ (101,190)	$ 66,971	$ 31,612

Income Taxes - Schedule of Components of Income (Loss) Before Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Income Tax Disclosure [Abstract]
Domestic	$ (485,760)	$ 73,700	$ 36,176
Foreign	7,590	188,821	107,412
Income (loss) before income taxes	$ (478,170)	$ 262,521	$ 143,588

Income Taxes - Narrative (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
Income Taxes - Narrative (Details) - USD ($) $ in Thousands	Sep. 30, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Income Tax Disclosure [Abstract]
Statutory rate		35.00%	35.00%	35.00%
Operating Loss Carryforwards [Line Items]
Valuation allowance		$ 1,936	$ 23,076
Undistributed earnings of foreign subsidiaries		304,000	338,000
Unrecognized tax benefit, decrease resulting from settlements with taxing authorities			3,400
Income tax examination, penalties and interest expense				$ 200
Income tax examination, penalties and interest accrued				$ 1,300
Income tax examination, reversal of penalties and interest accrued			$ 1,300
Income tax refund	$ 35,200
U.S. [Member]
Operating Loss Carryforwards [Line Items]
Net operating loss carryforward or carryback		47,200
Foreign [Member]
Operating Loss Carryforwards [Line Items]
Net operating loss carryforward or carryback		7,900
Tax credit		4,600
Foreign [Member] \| Well Intervention [Member]
Operating Loss Carryforwards [Line Items]
Net operating loss carryforward or carryback		$ 13,700

Income Taxes - Schedule of Income Tax Rate Reconciliation (Details)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Effective Income Tax Rate Reconciliation, Percent [Abstract]
Statutory rate	35.00%	35.00%	35.00%
Foreign provision (as a percent)	(13.70%)	(9.10%)	(11.60%)
Other (as a percent)	(0.10%)	(0.40%)	(1.40%)
Effective rate (as a percent)	21.20%	25.50%	22.00%

Income Taxes - Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Deferred tax liabilities:
Depreciation	$ 173,863	$ 211,903
Original Issue Discount on 2032 Notes	17,957	16,269
Equity investments in production facilities	8,029	50,685
Prepaid and other	1,883	4,211
Total deferred tax liabilities	201,732	283,068
Deferred tax assets:
Net operating losses	(23,595)	(23,076)
Reserves, accrued liabilities and other	(52,672)	(53,973)
Total deferred tax assets	(76,267)	(77,049)
Valuation allowance	1,936	23,076
Net deferred tax liabilities	127,401	229,095
Current deferred tax assets	(53,573)	(31,180)
Non-current deferred tax liabilities	$ 180,974	$ 260,275

Income Taxes - Reconciliation of Beginning and Ending Amount of Unrecognized Tax Benefits (Details) - Helix [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance at beginning of period	$ 4,723	$ 4,506
Additions for tax positions of prior years	0	217
Reductions for tax positions of prior years	(4,723)	0
Balance at end of period	$ 0	$ 4,723

Shareholders' Equity - Narrative (Details) - $ / shares	Dec. 31, 2015	Dec. 31, 2014
Stockholders' Equity Note [Abstract]
Common stock, shares authorized	240,000,000	240,000,000
Preferred stock, shares authorized	5,000,000
Preferred stock, par value per share (in dollars per share)	$ 0.01

Shareholders' Equity - Components of Accumulated OCI (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Stockholders' Equity Note [Abstract]
Cumulative foreign currency translation adjustment	$ (43,010)	$ (30,161)
Unrealized loss on hedges, net	(27,891)	(32,091)
Accumulated other comprehensive loss	(70,901)	(62,252)
Deferred income taxes	$ 15,100	$ 17,300

- 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

Stock Buyback Program (Details) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2015 USD ($) $ / shares shares
Equity [Abstract]
Total shares repurchased (in shares)	3,589,425
Total shares repurchased \| $	$ 53.5
Repurchase of common stock value per share (in dollars per share) \| $ / shares	$ 14.90
Remaining number of shares available to be repurchased	878,328

Earnings Per Share - Computation of Basic and Diluted EPS (Details) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Basic:
Net income (loss) applicable to common shareholders	$ (403,867)	$ 9,880	$ (2,635)	$ 19,642	$ 7,960	$ 75,586	$ 57,782	$ 53,719	$ (376,980)	$ 195,047	$ 109,922
Less: Income from discontinued operations, net of tax									0	0	(1,073)
Net income (loss) from continuing operations									(376,980)	195,047	108,849
Less: Undistributed income allocable to participating securities – continuing operations									0	(1,018)	(801)
Net income (loss) applicable to common shareholders – continuing operations									$ (376,980)	$ 194,029	$ 108,048
Weighted average number of shares outstanding - basic (in shares)									105,416	105,029	105,032
Diluted:
Net income (loss) applicable to common shareholders – continuing operations									$ (376,980)	$ 194,029	$ 108,048
Effect of dilutive securities:
Share-based awards other than participating securities (in shares)									0	16	152
Undistributed income reallocated to participating securities									$ 0	$ 0	$ 1
Net income (loss) applicable to common shareholders – continuing operations									$ (376,980)	$ 194,029	$ 108,049
Weighted average number of shares outstanding, diluted									105,416	105,045	105,184
Discontinued operations:
Income from discontinued operations, net of tax									$ 0	$ 0	$ 1,073
Less: Undistributed income allocable to participating securities – discontinued operations									0	0	(8)
Net income applicable to common shareholders – discontinued operations									$ 0	$ 0	$ 1,065

Earnings Per Share - Excluded Securities On Diluted Shares Calculation (Details) - shares shares in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Diluted shares (as reported)	105,416	105,045	105,184
Total (in shares)	105,475
Share-Based Awards [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities (in shares)	59

Earnings Per Share - Narrative (Details) - shares shares in Millions	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Convertible Senior Notes 2032 [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities (in shares)	8.0	8.0

Employee Benefit Plans - Narrative (Details)	1 Months Ended		12 Months Ended					132 Months Ended
Employee Benefit Plans - Narrative (Details)	Jan. 31, 2016 USD ($) $ / shares shares	May 31, 2012 shares	Dec. 31, 2015 USD ($) long-term_incentive_stock-based_plan $ / shares shares	Dec. 31, 2014 USD ($) $ / shares shares	Dec. 31, 2013 USD ($) $ / shares shares	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2015 USD ($) $ / shares shares	Jan. 31, 2015 USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of stock plans \| long-term_incentive_stock-based_plan			1
Granted (in shares) \| shares			501,076	139,455	168,468
Grants in period (in shares) \| shares			295,693	73,609	89,329
Grant date fair value (in dollars per share) \| $ / shares			$ 25.06	$ 26.79	$ 27.50			$ 25.06
Stock option grants (in shares) \| shares								0
Options exercised in period (in shares) \| shares					52,800
Options weighted average exercise price (in dollars per share) \| $ / shares					$ 13.91
Intrinsic value of options exercised					$ 500,000
Deferred compensation arrangement with individual award vesting period						3 years	5 years
Long-term incentive cash awards granted			$ 0	$ 8,900,000	8,400,000			$ 0
Compensation expense				7,200,000	9,100,000
Deferred compensation cash-based arrangement, liability			100,000	12,800,000				$ 100,000
Executive Officer [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense				3,600,000	5,300,000
Deferred compensation cash-based arrangement, liability				7,900,000
Adjustment [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense			(3,700,000)
Adjustment [Member] \| Executive Officer [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense			$ (2,100,000)
Subsequent Event [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Long-term incentive cash awards granted	$ 0
Long-term incentive cash awards paid	$ 0
E S P P [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized for issuance (in shares) \| shares			1,500,000					1,500,000
Shares available for issuance (in shares) \| shares			900,000					900,000
Period common stock may be purchased through payroll deductions			4 months
Percentage of share of non-vested stock considered as call option			85.00%					85.00%
Percentage of share of non-vested stock considered as put option			15.00%
Allocated share-based compensation expense			$ 1,100,000	1,000,000	800,000
2005 Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for issuance (in shares) \| shares			6,000,000					6,000,000
Additional shares authorized (in shares) \| shares		4,300,000
Awards granted vesting percentage						33.00%	20.00%
Vesting period						3 years	5 years
2005 Incentive Plan [Member] \| Subsequent Event [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards granted vesting percentage	33.00%
Granted (in shares) \| shares	1,143,062
Market value per share (in dollars per share) \| $ / shares	$ 5.26
Future compensation expense	$ 6,000,000
Vesting period	3 years
Grants in period (in shares) \| shares	1,143,062
2005 Incentive Plan [Member] \| Maximum Shares As Incentive Options Member
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for issuance (in shares) \| shares			2,000,000					2,000,000
Restricted Stock Units and Restricted Stock Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation cost			$ 5,500,000	5,000,000	6,600,000
Forfeiture on restricted stock percentage			6.00%
Forfeiture on restricted stock period			5 years
Future compensation expense			$ 6,500,000					$ 6,500,000
Weighted average vesting period			1 year 9 months 18 days
Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards granted vesting percentage			100.00%
Compensation cost			$ 200,000	5,400,000	2,200,000
Vesting period			3 years
Recorded liability			$ 700,000	7,900,000				700,000
Long-term incentive cash awards paid									$ 4,500,000
Performance Shares [Member] \| Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award percentage			200.00%
Performance Shares [Member] \| Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award percentage			0.00%
Performance Shares [Member] \| Subsequent Event [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Long-term incentive cash awards paid	$ 200,000
Modified Liability Performance Share [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense in excess of fair value recorded in equity			$ 2,900,000
Long-Term Incentive Cash Plans [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Minimum percentage of average price during measurement period (less than)			75.00%
Long-term incentive cash awards paid			$ 8,900,000	$ 9,200,000	$ 7,100,000			$ 8,900,000
401K Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employer matching contribution (as a percent)				75.00%	50.00%
Matching contribution percent of employees' salary (up to)				5.00%	5.00%
Cost of plan			$ 2,800,000	$ 2,200,000	$ 1,700,000

Employee Benefit Plans - Restricted Shares Granted (Details) - $ / shares	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Shares	501,076	139,455	168,468
January 2, 2015 - 33% per year over three years [Member]
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Date of Grant	Jan. 02, 2015
Shares	289,163
Grant Date Fair Value Per Share	$ 21.70
Vesting Percentage	33.00%
Vesting Period	3 years
January 2, 2015 - 100% on January 1, 2018 [Member]
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Date of Grant	Jan. 02, 2015
Shares	289,163
Grant Date Fair Value Per Share	$ 25.06
Vesting Percentage	100.00%
Vesting Date	Jan. 01, 2018
January 5, 2015 - 100% on January 1, 2017 [Member]
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Date of Grant	Jan. 05, 2015
Shares	3,946
Grant Date Fair Value Per Share	$ 21.66
Vesting Percentage	100.00%
Vesting Date	Jan. 01, 2017
January 12, 2015 - 33% per year over three years [Member]
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Date of Grant	Jan. 12, 2015
Shares	3,866
Grant Date Fair Value Per Share	$ 19.40
Vesting Percentage	33.00%
Vesting Period	3 years
January 12, 2015 - 100% on January 11, 2018 [Member]
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Date of Grant	Jan. 12, 2015
Shares	3,866
Grant Date Fair Value Per Share	$ 25.06
Vesting Percentage	100.00%
Vesting Date	Jan. 11, 2018
February 1, 2015 - 33% per year over three years [Member]
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Date of Grant	Feb. 01, 2015
Shares	2,664
Grant Date Fair Value Per Share	$ 18.77
Vesting Percentage	33.00%
Vesting Period	3 years
February 1, 2015 - 100% on January 21, 2018 [Member]
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Date of Grant	Feb. 01, 2015
Shares	2,664
Grant Date Fair Value Per Share	$ 25.06
Vesting Percentage	100.00%
Vesting Date	Jan. 31, 2018
April 1, 2015 - 100% on January 1, 2017 [Member]
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Date of Grant	Apr. 01, 2015
Shares	6,476
Grant Date Fair Value Per Share	$ 14.96
Vesting Percentage	100.00%
Vesting Date	Jan. 01, 2017
July 1, 2015 - 100% on January 1, 2017 [Member]
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Date of Grant	Jul. 01, 2015
Shares	6,631
Grant Date Fair Value Per Share	$ 12.63
Vesting Percentage	100.00%
Vesting Date	Jan. 01, 2017
October 1, 2015 - 100% on January 1, 2017 [Member]
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Date of Grant	Oct. 01, 2015
Shares	17,876
Grant Date Fair Value Per Share	$ 4.79
Vesting Percentage	100.00%
Vesting Date	Jan. 01, 2017
December 3, 2015 - 33% per year over three years [Member]
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Date of Grant	Dec. 03, 2015
Shares	170,454
Grant Date Fair Value Per Share	$ 6.16
Vesting Percentage	33.00%
Vesting Period	3 years

Employee Benefit Plans - Schedule of Restricted Stock and Restricted Stock Units Activity (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Jan. 31, 2015	Jan. 31, 2014
Shares
Awards outstanding at beginning of year (in shares)	554,960	771,942	1,191,402
Granted (in shares)	501,076	139,455	168,468
Vested (in shares)	(332,223)	(356,437)	(502,022)
Forfeited (in shares)	(62,689)	0	(85,906)
Awards outstanding at end of year (in shares)	661,124	554,960	771,942
Grant Date Fair Value
Awards outstanding at beginning of year (in dollars per share)	$ 17.54	$ 13.62	$ 14.14
Granted (in dollars per share)	15.57	23.22	21.63
Vested (in dollars per share)	16.44	11.27	17.50
Forfeited (in dollars per share)	20.93	0.00	13.79
Awards outstanding at end of year (in dollars per share)	$ 16.28	$ 17.54	$ 13.62
Fair value of awards vested	$ 5.1	$ 8.2	$ 11.0
Restricted Stock Units (RSUs) [Member]
Shares
Awards outstanding at beginning of year (in shares)	33,760
Awards outstanding at end of year (in shares)		33,760
Grant Date Fair Value
Awards outstanding at beginning of year (in dollars per share)	$ 15.80
Awards outstanding at end of year (in dollars per share)		$ 15.80
Recorded liability		$ 0.2	$ 1.3
Long-term incentive cash awards paid				$ 0.7	$ 0.8

Business Segment Information - Narrative (Details)	12 Months Ended
Business Segment Information - Narrative (Details)	Dec. 31, 2015 segment vessel
Segment Reporting [Abstract]
Number of reportable segments \| segment	3
Robotics [Member]
Segment Reporting Information [Line Items]
Number of chartered vessels \| vessel	4

Business Segment Information - Summary of Financial Data by Segment (Details) - USD ($) $ in Thousands	1 Months Ended			3 Months Ended								12 Months Ended
	Jan. 31, 2014	Jul. 31, 2013	Jun. 30, 2013	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Segment Reporting Information [Line Items]
Net revenues				$ 157,683	$ 182,462	$ 166,016	$ 189,641	$ 207,160	$ 340,837	$ 305,587	$ 253,572	$ 695,802	$ 1,107,156	$ 876,561
Income (loss) from operations												(307,360)	261,756	179,034
Net interest expense												26,914	17,859	32,898
Equity in earnings (losses) of investments												(124,345)	879	2,965
Income (loss) before income taxes												(478,170)	262,521	143,588
Income tax provision (benefit)												(101,190)	66,971	31,612
Identifiable assets				2,411,952				2,700,698				2,411,952	2,700,698	2,544,280
Capital expenditures												320,311	336,912	324,426
Depreciation and amortization												120,401	109,345	98,535
Impairment charges												345,010	0	0
Goodwill impairment												16,399	0	0
Gain (loss) on sale of assets												92	10,240	14,727
Other income												4,759	16,931	6,581
Proceeds from insurance reimbursement													7,200
Loss on early extinguishment of debt												0	0	12,100
Unrealized losses on derivatives				19,000								18,281	1,320	77
Helix 534 [Member]
Segment Reporting Information [Line Items]
Impairment charges				205,200								205,200
Capitalized Vessel Project Costs [Member]
Segment Reporting Information [Line Items]
Impairment charges to write off capitalized costs				6,300								6,300
HP I [Member]
Segment Reporting Information [Line Items]
Impairment charges				133,400								133,400
Well Intervention [Member]
Segment Reporting Information [Line Items]
Goodwill impairment				16,400								16,399
Well Intervention [Member] \| Helix 534 [Member]
Segment Reporting Information [Line Items]
Impairment charges												205,200
Well Intervention [Member] \| Capitalized Vessel Project Costs [Member]
Segment Reporting Information [Line Items]
Impairment charges to write off capitalized costs												6,300
Robotics [Member]
Segment Reporting Information [Line Items]
Goodwill impairment													0
Unrealized losses on derivatives												18,300
Production Facilities [Member] \| HP I [Member]
Segment Reporting Information [Line Items]
Impairment charges												133,400
Reportable Segments [Member] \| Well Intervention [Member]
Segment Reporting Information [Line Items]
Net revenues												373,301	667,849	452,452
Income (loss) from operations												(194,381)	204,810	131,840
Net interest expense												(102)	(252)	(128)
Income (loss) before income taxes												(193,572)	211,725	132,057
Income tax provision (benefit)												(1,230)	50,102	26,718
Identifiable assets				1,492,901				1,470,349				1,492,901	1,470,349	1,245,229
Capital expenditures												307,879	283,635	283,132
Depreciation and amortization												66,095	57,570	44,619
Reportable Segments [Member] \| Robotics [Member]
Segment Reporting Information [Line Items]
Net revenues												301,026	420,224	333,246
Income (loss) from operations												27,832	68,329	44,132
Net interest expense												29	(5)	19
Income (loss) before income taxes												2,454	61,025	44,342
Income tax provision (benefit)												515	21,612	15,530
Identifiable assets				274,926				299,701				274,926	299,701	282,373
Capital expenditures												10,700	51,348	39,655
Depreciation and amortization												26,724	24,478	22,263
Reportable Segments [Member] \| Production Facilities [Member]
Segment Reporting Information [Line Items]
Net revenues												75,948	93,175	88,149
Income (loss) from operations												(106,847)	41,138	49,778
Net interest expense												385	384	380
Income (loss) before income taxes												(231,577)	41,633	52,363
Income tax provision (benefit)												(81,052)	14,395	17,233
Identifiable assets				182,007				459,427				182,007	459,427	495,829
Capital expenditures												1,867	869	1,252
Depreciation and amortization												21,340	21,278	17,193
Reportable Segments [Member] \| Subsea Construction [Member]
Segment Reporting Information [Line Items]
Net revenues												0	358	71,321
Income (loss) from operations												(52)	10,923	33,685
Income (loss) before income taxes												53	11,201	33,205
Income tax provision (benefit)												26	3,881	11,655
Identifiable assets				10,027				27,547				10,027	27,547	38,054
Depreciation and amortization												0	0	8,651
Reportable Segments [Member] \| Subsea Construction [Member] \| Spoolbase Facility [Member]
Segment Reporting Information [Line Items]
Gain (loss) on sale of assets	$ 10,500
Reportable Segments [Member] \| Subsea Construction [Member] \| Caesar [Member]
Segment Reporting Information [Line Items]
Gain (loss) on sale of assets			$ (1,100)
Reportable Segments [Member] \| Subsea Construction [Member] \| Express [Member]
Segment Reporting Information [Line Items]
Gain (loss) on sale of assets		$ 15,600
Intercompany Elimination [Member]
Segment Reporting Information [Line Items]
Net revenues												(54,473)	(74,450)	(68,607)
Income (loss) from operations												(98)	(921)	(3,360)
Intercompany Elimination [Member] \| Well Intervention [Member]
Segment Reporting Information [Line Items]
Net revenues												(22,855)	(29,875)	(22,448)
Intercompany Elimination [Member] \| Robotics [Member]
Segment Reporting Information [Line Items]
Net revenues												(31,618)	(44,575)	(41,169)
Intercompany Elimination [Member] \| Production Facilities [Member]
Segment Reporting Information [Line Items]
Net revenues												0	0	(4,673)
Intercompany Elimination [Member] \| Subsea Construction [Member]
Segment Reporting Information [Line Items]
Net revenues												0	0	(317)
Corporate and Other [Member]
Segment Reporting Information [Line Items]
Income (loss) from operations												(33,814)	(62,523)	(77,041)
Identifiable assets				$ 452,091				$ 443,674				452,091	443,674	482,795
Capital expenditures												(135)	1,060	387
Corporate and Eliminations [Member]
Segment Reporting Information [Line Items]
Net interest expense												26,602	17,732	32,627
Income (loss) before income taxes												(55,528)	(63,063)	(118,379)
Income tax provision (benefit)												(19,449)	(23,019)	(39,524)
Depreciation and amortization												$ 6,242	6,019	5,809
Other income													16,900
Proceeds from insurance reimbursement													$ 7,200
Loss on early extinguishment of debt														$ 12,100

Business Segment Information - Summary of Intercompany Segment Revenues (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Segment Reporting Information [Line Items]
Net revenues	$ (157,683)	$ (182,462)	$ (166,016)	$ (189,641)	$ (207,160)	$ (340,837)	$ (305,587)	$ (253,572)	$ (695,802)	$ (1,107,156)	$ (876,561)
Intercompany Elimination [Member]
Segment Reporting Information [Line Items]
Net revenues									54,473	74,450	68,607
Intercompany Elimination [Member] \| Well Intervention [Member]
Segment Reporting Information [Line Items]
Net revenues									22,855	29,875	22,448
Intercompany Elimination [Member] \| Robotics [Member]
Segment Reporting Information [Line Items]
Net revenues									31,618	44,575	41,169
Intercompany Elimination [Member] \| Production Facilities [Member]
Segment Reporting Information [Line Items]
Net revenues									0	0	4,673
Intercompany Elimination [Member] \| Subsea Construction [Member]
Segment Reporting Information [Line Items]
Net revenues									$ 0	$ 0	$ 317

Business Segment Information - Revenue by Geographical Region (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Segment Reporting Information [Line Items]
Total net revenues	$ 157,683	$ 182,462	$ 166,016	$ 189,641	$ 207,160	$ 340,837	$ 305,587	$ 253,572	$ 695,802	$ 1,107,156	$ 876,561
United States [Member]
Segment Reporting Information [Line Items]
Total net revenues									298,391	403,994	345,525
North Sea [Member]
Segment Reporting Information [Line Items]
Total net revenues									263,438	504,016	403,816
United Kingdom [Member]
Segment Reporting Information [Line Items]
Total net revenues									187,700	362,700	327,100
Other [Member]
Segment Reporting Information [Line Items]
Total net revenues									$ 133,973	$ 199,146	$ 127,220

Business Segment Information - Property, Plant and Equipment Net of Depreciation by Geographic Region (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Segment Reporting Information [Line Items]
Property and equipment, net	$ 1,603,009	$ 1,735,384
United States [Member]
Segment Reporting Information [Line Items]
Property and equipment, net	1,024,691	893,106
United Kingdom [Member]
Segment Reporting Information [Line Items]
Property and equipment, net	352,740	355,996
Singapore [Member]
Segment Reporting Information [Line Items]
Property and equipment, net	112,313	434,319
Other [Member]
Segment Reporting Information [Line Items]
Property and equipment, net	$ 113,265	$ 51,963

Commitments and Contingencies and Other Matters - Narrative (Details) $ in Thousands	1 Months Ended							12 Months Ended
	Jan. 31, 2016 USD ($) renewal_option	Dec. 31, 2015 USD ($) payment_installment	Jul. 31, 2015 USD ($)	Apr. 30, 2015 USD ($)	Feb. 28, 2014 vessel	Sep. 30, 2013 USD ($)	Feb. 28, 2013	Dec. 31, 2015 USD ($)	Dec. 31, 2014 USD ($)	Dec. 31, 2013 USD ($)	Nov. 30, 2014 USD ($)
Commitments And Contingencies [Line Items]
Total investment		$ 2,544,857						$ 2,544,857	$ 2,241,444
Charter fee deposit		12,544						12,544	12,544		$ 12,500
Total rental expense								134,300	147,200	$ 102,100
Total rental income								1,400	$ 800	$ 400
Minimum rentals to be received in the future		1,600						1,600
Robotics [Member] \| Cost of Sales [Member]
Commitments And Contingencies [Line Items]
Contractual responsibility to reimburse third party for foreign withholding tax liability		$ 5,200						5,200
Scotland [Member] \| Subsequent Event [Member]
Commitments And Contingencies [Line Items]
Term of agreement	15 years
Number of renewal options \| renewal_option	2
Term of renewal option	5 years
Annual minimum lease payment	$ 900
Grand Canyon II and III [Member]
Commitments And Contingencies [Line Items]
Term of charter agreement							5 years
Grand Canyon II [Member] \| Capital Addition Purchase Commitments [Member]
Commitments And Contingencies [Line Items]
Non-refundable proceeds from charter agreement				$ 4,700
Q7000 [Member]
Commitments And Contingencies [Line Items]
Contract amount						$ 346,000
Percentage of contract price paid		80.00%				80.00%
Number of installments to be paid \| payment_installment		3
Total investment		$ 112,200						112,200
Q7000 [Member] \| Contract Signing [Member]
Commitments And Contingencies [Line Items]
Percentage of contract price paid						20.00%
Q7000 [Member] \| Due June 2016 [Member]
Commitments And Contingencies [Line Items]
Percentage of contract price paid		20.00%
Q7000 [Member] \| Issuance of Completion Certificate [Member]
Commitments And Contingencies [Line Items]
Percentage of contract price paid		20.00%
Q7000 [Member] \| Vessel Delivery [Member]
Commitments And Contingencies [Line Items]
Percentage of contract price paid		40.00%
Q7000 [Member] \| Capital Addition Purchase Commitments [Member] \| Extend Scheduled Delivery [Member]
Commitments And Contingencies [Line Items]
Total investment						$ 14,500
Q7000 [Member] \| Capital Addition Purchase Commitments [Member] \| Contract Signing [Member]
Commitments And Contingencies [Line Items]
Payment of shipyard incremental costs								69,200
Q7000 [Member] \| Capital Addition Purchase Commitments [Member] \| Contract Signing [Member] \| Extend Scheduled Delivery [Member]
Commitments And Contingencies [Line Items]
Payment of shipyard incremental costs			$ 7,300
Monohull Vessels [Member]
Commitments And Contingencies [Line Items]
Term of charter agreement					4 years
Number of vessels under construction \| vessel					2
Topside Equipment [Member]
Commitments And Contingencies [Line Items]
Total investment		$ 113,300						$ 113,300

Commitments and Contingencies and Other Matters - Lease Commitments (Details) $ in Thousands	Dec. 31, 2015 USD ($)
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract]
2016	$ 149,362
2017	165,020
2018	131,331
2019	126,464
2020	111,525
Thereafter	216,573
Total lease commitments	900,275
Vessels [Member]
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract]
2016	144,389
2017	160,215
2018	126,890
2019	122,004
2020	107,484
Thereafter	199,867
Total lease commitments	860,849
Facilities and Other [Member]
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract]
2016	4,973
2017	4,805
2018	4,441
2019	4,460
2020	4,041
Thereafter	16,706
Total lease commitments	$ 39,426

Statement of Cash Flow Information - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Supplemental Cash Flow Information [Abstract]
Interest paid, net of interest capitalized	$ 14,555	$ 11,628	$ 39,040
Income taxes paid	$ 16,905	$ 70,509	$ 113,331

Statement of Cash Flow Information - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Supplemental Cash Flow Information [Abstract]
Non-cash investing accruals	$ 18.7	$ 14.1
Non-cash transaction		$ 27.5

Allowance Accounts - Summary of Activity in Valuation Accounts (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Allowance for Uncollectible Accounts [Member]
Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at the beginning of period	$ 4,735	$ 2,234	$ 5,152
Additions	3,275	5,331	2,236
Deductions	(7,660)	(2,830)
Adjustments	0	0	(5,154)
Balance at the end of period	350	4,735	2,234
Deferred Tax Asset Valuation Allowance [Member]
Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at the beginning of period	23,076	22,860	16,391
Additions	0	0	0
Deductions	0	0
Adjustments	(21,140)	216	6,469
Balance at the end of period	$ 1,936	$ 23,076	$ 22,860

Allowance Accounts - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2013
Allowance for Trade Receivables [Member]
Valuation and Qualifying Accounts Disclosure [Line Items]
Adjustments		$ 4.0
Operating Loss Carryforwards Valuation Allowance [Member]
Valuation and Qualifying Accounts Disclosure [Line Items]
Adjustments	$ (20.6)	$ 6.5

Fair Value Measurements - Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total net liability	$ 62,487	$ 50,620
Foreign Exchange Contracts [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liabilities	61,427	50,428
Interest Rate Swaps [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liabilities	1,473	561
Interest Rate Swaps [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	413	369
Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total net liability	0	0
Fair Value, Inputs, Level 1 [Member] \| Foreign Exchange Contracts [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liabilities	0	0
Fair Value, Inputs, Level 1 [Member] \| Interest Rate Swaps [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liabilities	0	0
Fair Value, Inputs, Level 1 [Member] \| Interest Rate Swaps [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	0	0
Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total net liability	62,487	50,620
Fair Value, Inputs, Level 2 [Member] \| Foreign Exchange Contracts [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liabilities	61,427	50,428
Fair Value, Inputs, Level 2 [Member] \| Interest Rate Swaps [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liabilities	1,473	561
Fair Value, Inputs, Level 2 [Member] \| Interest Rate Swaps [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	413	369
Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total net liability	0	0
Fair Value, Inputs, Level 3 [Member] \| Foreign Exchange Contracts [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liabilities	0	0
Fair Value, Inputs, Level 3 [Member] \| Interest Rate Swaps [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liabilities	0	0
Fair Value, Inputs, Level 3 [Member] \| Interest Rate Swaps [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	$ 0	$ 0

Fair Value Measurements - Carrying Values and Estimated Fair Values of Long-Term Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014	Mar. 31, 2012
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying Value	$ 776,291
Unamortized debt discount	14,963
Term Loan Maturing June 2018 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying Value	255,000	$ 277,500
Fair Value	248,467	270,563
Unamortized debt discount	0
Nordea Q5000 Loan 2020 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying Value	232,143	0
Fair Value	221,553	0
Unamortized debt discount	0
MARAD Debt 2027 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying Value	89,148	94,792
Fair Value	104,897	104,830
Unamortized debt discount	0
Convertible Senior Notes 2032 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying Value	200,000	200,000	$ 200,000
Fair Value	150,250	222,900
Unamortized debt discount	14,963	20,920	$ 35,400
Loan Notes [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying Value	776,291	572,292
Fair Value	$ 725,167	$ 598,293

Derivative Instruments and Hedging Activities - Derivatives Designated as Hedging Instruments (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Derivatives, Fair Value [Line Items]
Asset derivatives designated as hedging instruments	$ 413	$ 369
Liability derivatives designated as hedging instruments	44,886	50,989
Other Assets, Net [Member] \| Interest Rate Swaps [Member]
Derivatives, Fair Value [Line Items]
Asset derivatives designated as hedging instruments	413	369
Accrued Liabilities [Member] \| Interest Rate Swaps [Member]
Derivatives, Fair Value [Line Items]
Liability derivatives designated as hedging instruments	1,473	561
Accrued Liabilities [Member] \| Foreign Exchange Contracts [Member]
Derivatives, Fair Value [Line Items]
Liability derivatives designated as hedging instruments	14,955	12,661
Other Non-Current Liabilities [Member] \| Foreign Exchange Contracts [Member]
Derivatives, Fair Value [Line Items]
Liability derivatives designated as hedging instruments	$ 28,458	$ 37,767

Derivative Instruments and Hedging Activities - Derivatives Not Designated as Hedging Instruments (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Derivative [Line Items]
Liability derivatives not designated as hedging instruments	$ 18,014	$ 0
Accrued Liabilities [Member] \| Foreign Exchange Contracts [Member]
Derivative [Line Items]
Liability derivatives not designated as hedging instruments	6,763	0
Other Non-Current Liabilities [Member] \| Foreign Exchange Contracts [Member]
Derivative [Line Items]
Liability derivatives not designated as hedging instruments	$ 11,251	$ 0

Derivative Instruments and Hedging Activities - Narrative (Details) $ in Thousands, kr in Millions	12 Months Ended
	Dec. 31, 2015 USD ($)	Dec. 31, 2014 USD ($)	Dec. 31, 2015 NOK (kr)	Jun. 30, 2015 USD ($)	Sep. 30, 2013 USD ($)	Feb. 28, 2013 USD ($)	Feb. 28, 2013 NOK (kr)	Jan. 31, 2013 USD ($)	Jan. 31, 2013 NOK (kr)
Derivative [Line Items]
Unrealized losses related to foreign currency contracts	$ 18,000
Unrealized loss on hedges, net	27,891	$ 32,091
Loss in Accumulated OCI to be reclassified within twelve months	9,600
Grand Canyon [Member]
Derivative [Line Items]
Notional amount								$ 104,600	kr 591.3
Grand Canyon II [Member]
Derivative [Line Items]
Notional amount			kr 434.1			$ 100,400	kr 594.7
Grand Canyon III [Member]
Derivative [Line Items]
Notional amount			kr 185.2			$ 98,800	kr 595.0
Interest Rate Swaps [Member]
Derivative [Line Items]
Notional amount					$ 148,100
Interest Rate Swaps [Member] \| Nordea Q5000 Loan 2020 [Member]
Derivative [Line Items]
Notional amount				$ 187,500
Cash Flow Hedging [Member] \| Foreign Exchange Contracts [Member]
Derivative [Line Items]
Unrealized loss on hedges, net	19,800
Other income (expense), net [Member] \| Grand Canyon [Member]
Derivative [Line Items]
Unrealized loss on hedge ineffectiveness	1,500
Other income (expense), net [Member] \| Grand Canyon II [Member]
Derivative [Line Items]
Realized loss on hedge ineffectiveness		500
Unrealized loss on hedge ineffectiveness		$ 1,200
Other income (expense), net [Member] \| Grand Canyon II and Grand Canyon III [Member]
Derivative [Line Items]
Realized loss on hedge ineffectiveness	$ 3,600

Derivative Instruments and Hedging Activities - Impact of Derivative Instruments on Accumulated Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in OCI on Derivatives, Net of Tax (Effective Portion)	$ 4,200	$ (22,100)	$ (9,991)
Foreign Exchange Contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in OCI on Derivatives, Net of Tax (Effective Portion)	4,734	(22,170)	(9,796)
Interest Rate Swaps [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in OCI on Derivatives, Net of Tax (Effective Portion)	$ (534)	$ 70	$ (195)

Derivative Instruments and Hedging Activities - Loss Reclassified from Accumulated OCI into Earnings (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Derivative Instruments, Gain (Loss) [Line Items]
Loss Reclassified from Accumulated OCI into Earnings (Effective Portion)	$ (13,659)	$ (3,365)	$ (1,476)
Foreign Exchange Contracts [Member] \| Cost of Sales [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Loss Reclassified from Accumulated OCI into Earnings (Effective Portion)	(11,516)	(2,507)	(1,324)
Interest Rate Swaps [Member] \| Net Interest Expense [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Loss Reclassified from Accumulated OCI into Earnings (Effective Portion)	$ (2,143)	$ (858)	$ (152)

Derivative Instruments and Hedging Activities - Impact of Non Designated Derivative Instruments on Income Statement (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in Earnings on Derivatives	$ (18,014)	$ 7	$ (14,829)
Oil and Gas Commodity Contracts [Member] \| Loss on Commodity Derivative Contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in Earnings on Derivatives	0	0	(14,113)
Interest Rate Swaps [Member] \| Other Income (Expense), Net [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in Earnings on Derivatives	0	0	(86)
Foreign Exchange Contracts [Member] \| Other Income (Expense), Net [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in Earnings on Derivatives	$ (18,014)	$ 7	$ (630)

Quarterly Financial Information (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Quarterly Financial Information Disclosure [Abstract]
Net revenues	$ 157,683	$ 182,462	$ 166,016	$ 189,641	$ 207,160	$ 340,837	$ 305,587	$ 253,572	$ 695,802	$ 1,107,156	$ 876,561
Gross profit (loss)	(324,898)	31,969	24,208	34,947	32,805	126,247	109,138	75,846	(233,774)	344,036	260,685
Net income (loss) applicable to common shareholders	$ (403,867)	$ 9,880	$ (2,635)	$ 19,642	$ 7,960	$ 75,586	$ 57,782	$ 53,719	$ (376,980)	$ 195,047	$ 109,922
Basic earnings (loss) per common share (in dollars per share)	$ (3.83)	$ 0.09	$ (0.03)	$ 0.19	$ 0.08	$ 0.72	$ 0.55	$ 0.51	$ (3.58)	$ 1.85	$ 1.04
Diluted earnings (loss) per common share (in dollars per share)	$ (3.83)	$ 0.09	$ (0.03)	$ 0.19	$ 0.08	$ 0.71	$ 0.55	$ 0.51	$ (3.58)	$ 1.85	$ 1.04
Quarterly Financial Information [Line Items]
Impairment charges									$ 345,010	$ 0	$ 0
Goodwill impairment									16,399	0	0
Loss from equity method investments									124,345	(879)	(2,965)
Unrealized losses on derivatives	$ 19,000								18,281	$ 1,320	$ 77
Deepwater Gateway LLC and Independence Hub LLC [Member]
Quarterly Financial Information [Line Items]
Loss from equity method investments	123,800
Well Intervention [Member]
Quarterly Financial Information [Line Items]
Goodwill impairment	16,400								16,399
Helix 534 [Member]
Quarterly Financial Information [Line Items]
Impairment charges	205,200								205,200
Helix 534 [Member] \| Well Intervention [Member]
Quarterly Financial Information [Line Items]
Impairment charges									205,200
HP I [Member]
Quarterly Financial Information [Line Items]
Impairment charges	133,400								133,400
Capitalized Vessel Project Costs [Member]
Quarterly Financial Information [Line Items]
Impairment charges to write off capitalized costs	$ 6,300								6,300
Capitalized Vessel Project Costs [Member] \| Well Intervention [Member]
Quarterly Financial Information [Line Items]
Impairment charges to write off capitalized costs									$ 6,300