0000866829-21-000007 | 10-K | XBRL Viewer | Helix Energy Solutions Group INC

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Document And Entity Information - USD ($) $ in Millions	12 Months Ended
Document And Entity Information - USD ($) $ in Millions	Dec. 31, 2020	Feb. 19, 2021	Jun. 30, 2020
Cover [Abstract]
Entity Registrant Name	HELIX ENERGY SOLUTIONS GROUP, INC.
Entity Central Index Key	0000866829
Entity File Number	001-32936
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2020
Document Period End Date	Dec. 31, 2020
Document Fiscal Period Focus	FY
Document Type	10-K
Amendment Flag	false
Document Annual Report	true
Document Transition Report	false
Entity Incorporation, State or Country Code	MN
Entity Tax Identification Number	95-3409686
Entity Address, Address Line One	3505 West Sam Houston Parkway North
Entity Address, Address Line Two	Suite 400
Entity Address, City or Town	Houston
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	77043
City Area Code	281
Local Phone Number	618-0400
Title of 12(b) Security	Common Stock
Trading Symbol	HLX
Security Exchange Name	NYSE
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 490.8
Entity Common Stock, Shares Outstanding		150,714,706
Documents Incorporated by Reference	Portions of the definitive Proxy Statement for the Annual Meeting of Shareholders to be held on May 19, 2021 are incorporated by reference into Part III hereof.

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 291,320	$ 208,431
Restricted cash	0	54,130
Accounts receivable, net of allowance for credit losses of $3,469 and $0, respectively	132,233	125,457
Other current assets	102,092	50,450
Total current assets	525,645	438,468
Property and equipment	2,948,907	2,922,274
Less accumulated depreciation	(1,165,943)	(1,049,637)
Property and equipment, net	1,782,964	1,872,637
Operating lease right-of-use assets	149,656	201,118
Other assets, net	40,013	84,508
Total assets	2,498,278	2,596,731
Current liabilities:
Accounts payable	50,022	69,055
Accrued liabilities	87,035	62,389
Current maturities of long-term debt	90,651	99,731
Current operating lease liabilities	51,599	53,785
Total current liabilities	279,307	284,960
Long-term debt	258,912	306,122
Operating lease liabilities	101,009	151,827
Deferred tax liabilities	110,821	112,132
Other non-current liabilities	3,878	38,644
Total liabilities	753,927	893,685
Redeemable noncontrolling interests	3,855	3,455
Shareholders’ equity:
Common stock, no par, 240,000 shares authorized, 150,341 and 148,888 shares issued, respectively	1,327,592	1,318,961
Retained earnings	464,524	445,370
Accumulated other comprehensive loss	(51,620)	(64,740)
Total shareholders’ equity	1,740,496	1,699,591
Total liabilities, redeemable noncontrolling interests and shareholders’ equity	$ 2,498,278	$ 2,596,731

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Current assets:
Allowance for credit losses	$ 3,469	$ 0
Shareholders’ equity:
Common stock, shares authorized	240,000,000	240,000,000
Common stock, shares issued	150,341,000	148,888,000

Consolidated Statements Of Operations - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Statement [Abstract]
Net revenues	$ 733,555	$ 751,909	$ 739,818
Cost of sales	653,646	614,071	618,134
Gross profit	79,909	137,838	121,684
Gain on disposition of assets, net	889	0	146
Goodwill impairment	(6,689)	0	0
Selling, general and administrative expenses	(61,084)	(69,841)	(70,287)
Income from operations	13,025	67,997	51,543
Equity in earnings (losses) of investment	216	1,439	(3,918)
Net interest expense	(28,531)	(8,333)	(13,751)
Gain (loss) on extinguishment of long-term debt	9,239	(18)	(1,183)
Other income (expense), net	4,724	1,165	(6,324)
Royalty income and other	2,710	3,306	4,631
Income before income taxes	1,383	65,556	30,998
Income tax provision (benefit)	(18,701)	7,859	2,400
Net income	20,084	57,697	28,598
Net loss attributable to redeemable noncontrolling interests	(2,090)	(222)	0
Net income attributable to common shareholders	$ 22,174	$ 57,919	$ 28,598
Earnings per share of common stock (in dollars per share)
Basic	$ 0.13	$ 0.39	$ 0.19
Diluted	$ 0.13	$ 0.38	$ 0.19
Weighted average common shares outstanding (in shares)
Basic	148,993	147,536	146,702
Diluted	149,897	149,577	146,830

Consolidated Statements Of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Statement of Comprehensive Income [Abstract]
Net income	$ 20,084	$ 57,697	$ 28,598
Other comprehensive income (loss), net of tax:
Net unrealized loss on hedges arising during the period	(95)	(680)	(847)
Reclassifications into earnings	452	5,470	7,201
Income taxes on hedges	(72)	(966)	(1,338)
Net change in hedges, net of tax	285	3,824	5,016
Unrealized loss on note receivable arising during the period	0	0	(629)
Income taxes on note receivable	0	0	132
Unrealized loss on note receivable, net of tax	0	0	(497)
Foreign currency translation gain (loss)	12,835	5,400	(7,166)
Other comprehensive income (loss), net of tax	13,120	9,224	(2,647)
Comprehensive income	33,204	66,921	25,951
Less comprehensive loss attributable to redeemable noncontrolling interests:
Net loss	(2,090)	(222)	0
Foreign currency translation gain	90	138	0
Comprehensive loss attributable to redeemable noncontrolling interests	(2,000)	(84)	0
Comprehensive income attributable to common shareholders	$ 35,204	$ 67,005	$ 25,951

Consolidated Statements Of Shareholders' Equity - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Retained Earnings	Accumulated Other Comprehensive Loss
Balance, beginning of year at Dec. 31, 2017	$ 1,567,393	$ 1,284,274	$ 352,906	$ (69,787)
Balance, beginning of year (in shares) at Dec. 31, 2017		147,740
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	28,598		28,598
Reclassification of stranded tax effect to retained earnings			1,530	(1,530)
Foreign currency translation adjustments	(7,166)			(7,166)
Unrealized gain on hedges, net of tax	5,016			5,016
Accretion of redeemable noncontrolling interests	0
Unrealized loss on note receivable, net of tax	(497)			(497)
Equity component of debt discount on convertible senior notes	15,411	$ 15,411
Activity in company stock plans, net and other	(746)	$ (746)
Activity in company stock plans, net and other (in shares)		463
Share-based compensation	9,770	$ 9,770
Balance, end of year at Dec. 31, 2018	1,617,779	$ 1,308,709	383,034	(73,964)
Balance, end of year (in shares) at Dec. 31, 2018		148,203
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	57,919		57,919
Reclassification of deferred gain from sale leaseback transaction to retained earnings	4,560		4,560
Foreign currency translation adjustments	5,400			5,400
Unrealized gain on hedges, net of tax	3,824			3,824
Accretion of redeemable noncontrolling interests	(143)		(143)
Unrealized loss on note receivable, net of tax	0
Activity in company stock plans, net and other	(1,032)	$ (1,032)
Activity in company stock plans, net and other (in shares)		685
Share-based compensation	11,284	$ 11,284
Balance, end of year at Dec. 31, 2019	1,699,591	$ 1,318,961	445,370	(64,740)
Balance, end of year (in shares) at Dec. 31, 2019		148,888
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	22,174		22,174
Credit losses recognized in retained earnings upon adoption of ASU No. 2016-13	(620)		(620)
Foreign currency translation adjustments	12,835			12,835
Unrealized gain on hedges, net of tax	285			285
Accretion of redeemable noncontrolling interests	(2,400)		(2,400)
Unrealized loss on note receivable, net of tax	0
Equity component of debt discount on convertible senior notes	33,336	$ 33,336
Re-acquisition of equity component of convertible senior notes	(18,006)	(18,006)
Capped call transactions	(10,625)	(10,625)
Activity in company stock plans, net and other	(4,345)	$ (4,345)
Activity in company stock plans, net and other (in shares)		1,453
Share-based compensation	8,271	$ 8,271
Balance, end of year at Dec. 31, 2020	$ 1,740,496	$ 1,327,592	$ 464,524	$ (51,620)
Balance, end of year (in shares) at Dec. 31, 2020		150,341

Consolidated Statements Of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Cash flows from operating activities:
Net income	$ 20,084	$ 57,697	$ 28,598
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	133,709	112,720	110,522
Goodwill impairment	6,689	0	0
Amortization of debt discounts	6,964	6,261	5,735
Amortization of debt issuance costs	3,177	3,600	3,592
Share-based compensation	8,568	11,469	9,925
Deferred income taxes	(3,883)	3,485	(2,430)
Equity in (earnings) losses of investment	(216)	(1,439)	3,918
Gain on disposition of assets, net	(889)	0	(146)
(Gain) loss on extinguishment of long-term debt	(9,239)	18	1,183
Unrealized gain on derivative contracts, net	(601)	(3,383)	(2,324)
Unrealized foreign currency (gain) loss	(2,665)	(628)	1,466
Changes in operating assets and liabilities, net of acquisitions:
Accounts receivable, net	(8,419)	(3,050)	20,920
Income tax receivable, net of income tax payable	(22,124)	(4,456)	964
Other current assets	(28,664)	25,383	(9,904)
Accounts payable and accrued liabilities	10,830	(31,265)	(1,818)
Other, net	(14,521)	(6,743)	26,543
Net cash provided by operating activities	98,800	169,669	196,744
Cash flows from investing activities:
Capital expenditures	(20,244)	(140,854)	(137,083)
STL acquisition, net	0	(4,081)	0
Proceeds from sale of assets	963	2,550	25
Other	0	0	1,044
Net cash used in investing activities	(19,281)	(142,385)	(136,014)
Cash flows from financing activities:
Proceeds from convertible senior notes	200,000	0	125,000
Repayment of convertible senior notes	(183,150)	0	(60,365)
Proceeds from term loan	0	35,000	0
Repayment of term loans	(3,500)	(35,442)	(63,807)
Repayment of Nordea Q5000 Loan	(35,714)	(35,714)	(35,714)
Repayment of MARAD Debt	(7,200)	(6,858)	(6,532)
Capped call transactions	(10,625)	0	0
Debt issuance costs	(7,747)	(1,586)	(3,867)
Payments related to tax withholding for share-based compensation	(5,264)	(1,680)	(1,407)
Proceeds from issuance of ESPP shares	622	462	506
Net cash used in financing activities	(52,578)	(45,818)	(46,186)
Effect of exchange rate changes on cash and cash equivalents and restricted cash	1,818	1,636	(1,677)
Net increase (decrease) in cash and cash equivalents and restricted cash	28,759	(16,898)	12,867
Cash and cash equivalents and restricted cash:
Balance, beginning of year	262,561	279,459	266,592
Balance, end of year	$ 291,320	$ 262,561	$ 279,459

Consolidated Statements Of Shareholders' Equity Redeemable Noncontrolling Interests - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Increase (Decrease) in Redeemable Noncontrolling Interests [Roll Forward]
Balance, beginning of year	$ 3,455
Net loss attributable to redeemable noncontrolling interests	(2,090)	$ (222)	$ 0
Foreign currency translation adjustments related to redeemable noncontrolling interests	90	138	$ 0
Issuance of redeemable noncontrolling interests		3,396
Accretion of redeemable noncontrolling interests	2,400	143
Balance, end of year	$ 3,855	$ 3,455

Organization	12 Months Ended
Organization	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	Note 1 — 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 Gulf of Mexico, Brazil, North Sea, Asia Pacific and West Africa regions. Our Operations Our services are segregated into three reportable business segments: Well Intervention, Robotics and Production Facilities (Note 15). Our Well Intervention segment includes our vessels and/or equipment used to access offshore wells for the purpose of performing well enhancement or decommissioning operations primarily in the Gulf of Mexico, Brazil, the North Sea and West Africa. Our well intervention vessels include the Q4000, the Q5000, the Q7000, the Seawell, the Well Enhancer, and two chartered monohull vessels, the Siem Helix 1 and the Siem Helix 2. Our well intervention equipment includes intervention riser systems (“IRSs”), subsea intervention lubricators (“SILs”) and the Riserless Open-water Abandonment Module (“ROAM”), some of which we provide on a stand-alone basis. Our Robotics segment includes remotely operated vehicles (“ROVs”), trenchers and a ROVDrill, which are designed to complement well intervention services and offshore construction to both the oil and gas and the renewable energy markets globally. Our Robotics segment also includes two robotics support vessels under long-term charter, the Grand Canyon II and the Grand Canyon III, as well as spot vessels as needed. Our Production Facilities segment includes the Helix Producer I (the “HP I”), a ship-shaped dynamically positioned floating production vessel, the Helix Fast Response System (the “HFRS”), and our ownership of oil and gas properties. All of our current Production Facilities activities are located in the Gulf of Mexico.

Summary Of Significant Accounting Policies	12 Months Ended
Summary Of Significant Accounting Policies	Dec. 31, 2020
Accounting Policies [Abstract]
Summary Of Significant Accounting Policies	Note 2 — Summary of Significant Accounting Policies Principles of Consolidation Our consolidated financial statements include the accounts of our 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. 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 (“GAAP”) in U.S. dollars. 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 that we believe are necessary for a fair presentation of our consolidated financial statements. Use of Estimates The preparation of financial statements in conformity with 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. Restricted Cash We classify cash as restricted when there are legal or contractual restrictions for its withdrawal. We had no restricted cash as of December 31, 2020. As of December 31, 2019, we had restricted cash of $54.1 million, which served as collateral for a letter of credit and was restricted for less than one year. In January 2021, we reclassified $73.4 million to restricted cash, which serves as collateral for a letter of credit for a temporary importation permit for work offshore Nigeria that is expected to be less than one year. Accounts Receivable and Allowance for Credit Losses Accounts receivable are recognized when our right to consideration becomes unconditional. Accounts receivable are stated at the historical carrying amount, net of write-offs and allowance for credit losses. We estimate current expected credit losses on our accounts receivable at each reporting date. We estimate current expected credit losses based on our credit loss history, adjusted for current factors including global economic and business conditions, offshore energy industry and market conditions, customer mix, contract payment terms and past due accounts receivable. 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 not be collected (Note 19). Property and Equipment Property and equipment is recorded at historical cost, net of accumulated depreciation. Property and equipment is depreciated on a straight-line basis over its estimated useful life. The cost of improvements is capitalized whereas the cost of repairs and maintenance is expensed as incurred. Assets used in operations are assessed for impairment whenever events or changes in 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 expected undiscounted cash flows. If the carrying amount of the asset or asset group is not recoverable and is greater than its fair value, an impairment charge 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 evaluated for impairment 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 revenues and costs, project margins and capital project spending, considering all available information at the date of review. Capitalized Interest Interest from external borrowings is capitalized on major projects under development 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. Capitalized interest is excluded from our interest expense (Note 8) and is included as an investing cash outflow in the consolidated statements of cash flows. Equity Investment With respect to our investment accounted for using the equity method of accounting, losses in excess of the carrying amount of our equity investment are recognized when (i) we guaranteed the 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. Losses in excess of the carrying amount of our equity investment are presented as a liability in the consolidated balance sheets. Leases Leases with a term greater than one year are recognized in the consolidated balance sheet as right-of-use (“ROU”) assets and lease liabilities. We have not recognized in the consolidated balance sheet leases with an initial term of one year or less. Lease liabilities and their corresponding ROU assets are recorded at the commencement date based on the present value of lease payments over the expected lease term. The lease term may include the option to extend or terminate the lease when it is reasonably certain that we will exercise the option. We use our incremental borrowing rate, which would be the rate incurred to borrow on a collateralized basis over a similar term in a similar economic environment, to calculate the present value of lease payments. ROU assets are adjusted for any initial direct costs paid or incentives received. We separate our long-term vessel charters between their lease components and non-lease services. We estimate the lease component using the residual approach by estimating the non-lease services, which primarily include crew, repair and maintenance, and regulatory certification costs. For all other leases, we have not separated the lease components and non-lease services. We recognize operating lease cost on a straight-line basis over the lease term for both (i) leases that are recognized in the consolidated balance sheet and (ii) short-term leases. We recognize lease cost related to variable lease payments that are not recognized in the consolidated balance sheet in the period in which the obligation is incurred. Goodwill Goodwill impairment is evaluated using a two-step process. The first step involves comparing a reporting unit’s fair value with its carrying amount. We have the option to assess qualitative factors to determine if it is necessary to perform the first step. If it is more likely than not that a reporting unit’s fair value is less than its carrying amount, we must perform the quantitative goodwill impairment test, which involves estimating the reporting unit’s fair value and comparing it to its carrying amount. If the reporting unit’s carrying amount exceeds its fair value, impairment loss is recognized in an amount equal to that excess, but not to exceed the goodwill’s carrying amount. We perform an impairment analysis of goodwill at least annually as of November 1 or more frequently whenever events or circumstances occur indicating that goodwill might be impaired. Our goodwill balance attributable to the acquisition of a controlling interest in Subsea Technologies Group Limited (“STL”) was fully impaired during 2020, and we had no goodwill in the accompanying consolidated balance sheet at December 31, 2020 (Note 7). Deferred Recertification and Dry Dock Costs Our vessels and certain well intervention equipment are required by regulation to be periodically recertified. Recertification costs for a vessel are typically incurred while the vessel is in dry dock. We defer and amortize recertification costs, including vessel dry dock costs, over the period that the certification applies, which generally ranges from 30 to 60 months if the appropriate permitting is obtained. A recertification process, including vessel dry dock, typically lasts between one to three months, a period during which a vessel or a piece of equipment is idle and generally not available to earn revenue. Major replacements and improvements that extend the economic useful life or functional operating capability of a vessel or a piece of equipment are capitalized and depreciated over the asset’s remaining economic useful life. We expense routine repairs and maintenance costs as they are incurred. As of December 31, 2020 and 2019, deferred recertification and dry dock costs, which were included within “Other assets, net” in the accompanying consolidated balance sheets (Note 3), totaled $21.5 million and $16.1 million (net of accumulated amortization of $21.8 million and $15.7 million), respectively. During the years ended December 31, 2020, 2019 and 2018, amortization expense related to deferred recertification and dry dock costs was $14.3 million, $12.4 million and $8.3 million, respectively. Revenue Recognition Revenue from Contracts with Customers We generate revenue in our Well Intervention segment by supplying vessels, personnel and equipment to provide well intervention services, which involve providing marine access, serving as a deployment mechanism to the subsea well, connecting to and maintaining a secure connection to the subsea well and maintaining well control through the duration of the intervention services. We may also perform down-hole intervention work and provide certain engineering services. We generate revenue in our Robotics segment by operating ROVs, trenchers and a ROVDrill to provide subsea construction, inspection, repair and maintenance services to oil and gas companies as well as subsea trenching and burial of pipelines and cables as well as seabed clearing for the oil and gas and the renewable energy markets. We also provide integrated robotic services by supplying vessels that deploy ROVs and trenchers. Our Production Facilities segment generates revenue by supplying vessels, personnel and equipment for oil and natural gas processing, well control response services, and oil and gas production from owned properties. Our revenues are derived from short-term and long-term service contracts with customers. Our service contracts generally contain either provisions for specific time, material and equipment charges that are billed in accordance with the terms of such contracts (dayrate contracts) or lump sum payment provisions (lump sum contracts). We record revenues net of taxes collected from customers and remitted to governmental authorities. Contracts are classified as long-term if all or part of the contract is to be performed over a period extending beyond 12 months from the effective date of the contract. Long-term contracts may include multi-year agreements whereby the commitment for services in any one year may be short in duration. We generally account for our services under contracts with customers as a single performance obligation satisfied over time. The single performance obligation in our dayrate contracts is comprised of a series of distinct time increments in which we provide services. We do not account for activities that are immaterial or not distinct within the context of our contracts as separate performance obligations. Consideration received under a contract is allocated to the single performance obligation on a systematic basis that depicts the pattern of the provision of our services to the customer. The total transaction price for a contract is determined by estimating both fixed and variable consideration expected to be earned over the term of the contract. We generally do not provide significant financing to our customers and do not adjust contract consideration for the time value of money if extended payment terms are granted for less than one year. Estimated variable consideration, if any, is considered to be constrained and therefore is not included in the transaction price until it is probable that a significant reversal in the amount of cumulative revenue recognized will not occur. At the end of each reporting period, we reassess and update our estimates of variable consideration and amounts of that variable consideration that should be constrained. Dayrate Contracts. Revenues generated from dayrate contracts generally provide for payment according to the rates per day as stipulated in the contract (e.g., operating rate, standby rate, and repair rate). Invoices billed to the customer are typically based on the varying rates applicable to operating status on an hourly basis. Dayrate consideration is allocated to the distinct hourly time increment to which it relates and is therefore recognized in line with the contractual rate billed for the services provided for any given hour. Similarly, revenues from contracts that stipulate a monthly rate are recognized ratably during the month. Dayrate contracts also may contain fees charged to the customer for mobilizing and/or demobilizing equipment and personnel. Mobilization and demobilization are considered contract fulfillment activities, and related fees (subject to any constraint on estimates of variable consideration) are allocated to the single performance obligation and recognized ratably over the term of the contract. Mobilization fees are generally billable to the customer in the initial phase of a contract and generate contract liabilities until they are recognized as revenue. Demobilization fees are generally received at the end of the contract and generate contract assets when they are recognized as revenue prior to becoming receivables from the customer. We receive reimbursements from our customers for the purchase of supplies, equipment, personnel services and other services provided at their request. Reimbursable revenues are variable and subject to uncertainty as the amounts received and timing thereof are dependent on factors outside of our influence. Accordingly, these revenues are constrained and not recognized until the related costs are incurred on behalf of the customer. We are generally considered a principal in these transactions and record the associated revenues at the gross amounts billed to the customer. A dayrate contract modification involving an extension of the contract by adding days of services is generally accounted for prospectively as a separate contract, but may be accounted for as a termination of the existing contract and creation of a new contract if the consideration for the extended services does not represent their stand-alone selling prices. Lump Sum Contracts. Revenues generated from lump sum contracts are recognized over time. Revenue is recognized based on the extent of progress towards completion of the performance obligation. We generally use the cost-to-cost measure of progress for our lump sum contracts because it best depicts the progress toward satisfaction of our performance obligation, which occurs as we incur costs under those contracts. Under the cost-to-cost measure of progress, the extent of progress towards completion is measured based on the ratio of cumulative costs incurred to date to the total estimated costs at completion of the performance obligation. Consideration, including lump sum mobilization and demobilization fees billed to the customer, is recorded proportionally as revenue in accordance with the cost-to-cost measure of progress. Consideration for lump sum contracts is generally due from the customer based on the achievement of milestones. As such, contract assets are generated to the extent we recognize revenues in advance of our rights to collect contract consideration and contract liabilities are generated when contract consideration due or received is greater than revenues recognized to date. We review and update our contract-related estimates regularly and recognize adjustments in estimated profit on contracts under the cumulative catch-up method. Under this method, the impact of the adjustment on profit recorded to date on a contract is recognized in the period in which the adjustment is identified. Revenue and profit in future periods of contract performance are recognized using the adjusted estimate. If a current estimate of total contract costs to be incurred exceeds the estimate of total revenues to be earned, we recognize the projected loss in full when it is identified. A modification to a lump sum contract is generally accounted for as part of the existing contract and recognized as an adjustment to revenue on a cumulative catch-up basis. Income from Oil and Gas Production Income from oil and gas production is recognized according to monthly oil and gas production volumes from the oil and gas properties that we own, and is included in revenues from our Production Facilities segment. Income from Royalty Interests Income from royalty interests is recognized according to our share of monthly oil and gas production volumes and is reflected in “Royalty income and other” in the 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. We provide for uncertain tax positions and 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 local taxing authorities. At December 31, 2020, 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 has been recognized or are required to pay amounts in excess of the liability, our effective tax rate in a given financial statement period may be affected. Share-Based Compensation Share-based compensation is measured at the grant date based on the estimated fair value of an award. Share-based compensation based solely on service conditions is recognized on a straight-line basis over the vesting period of the related shares. Forfeitures are recognized as they occur. Compensation cost for restricted stock is the product of the grant date fair value of each share and the number of shares granted and is recognized over the applicable vesting period on a straight-line basis. Compensation cost for our performance share unit (“PSU”) awards, which have a service condition and a market condition and are accounted for as equity awards, is measured based on the grant date estimated fair value and recognized over the vesting period on a straight-line basis. PSUs that are accounted for as liability awards are measured at their estimated fair value at each balance sheet date, and subsequent changes in fair value of the awards are recognized in earnings for the portion of the award for which the requisite service period has elapsed. Cumulative compensation cost for vested liability PSU awards equals the actual payout value upon vesting. Asset Retirement Obligations Asset retirement obligations (“AROs”) are recorded at fair value and consist of estimated costs for subsea infrastructure plug and abandonment (“P&A”) activities associated with our oil and gas properties. The estimated costs are discounted to present value using a credit-adjusted risk-free discount rate. After its initial recognition, an ARO liability is increased for the passage of time as accretion expense, which is a component of our depreciation and amortization expense. An ARO liability may also change based on revisions in estimated costs and/or timing to settle the obligations. 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. Results of operations for our non-U.S. dollar subsidiaries are translated into U.S. dollars using average exchange rates during the period. Assets and liabilities of these non-U.S. dollar subsidiaries are translated into U.S. dollars using the exchange rate in effect, and the resulting translation adjustments are included in other comprehensive income (loss) (“OCI”). For transactions denominated in a currency other than a subsidiary’s functional currency, the effects of changes in exchange rates are reported in other income or expense in the consolidated statements of operations. For the years ended December 31, 2020, 2019 and 2018, our foreign currency transaction gains (losses) totaled $4.6 million, $1.5 million and $(4.3) million, respectively. These realized amounts are exclusive of any gains or losses from our foreign currency exchange derivative contracts. 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 mitigate 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 derivative contracts, including interest rate swaps and foreign currency exchange contracts. Interest rate and foreign currency derivative instruments are reflected in the consolidated balance sheets at fair value. The capped call transactions (the “2026 Capped Calls”) we entered into in connection with the issuance of Convertible Senior Notes Due 2026 are recorded in shareholders’ equity and are not accounted for as derivatives (Note 8). We engage solely in cash flow hedges. Cash flow hedges are entered into to hedge the variability of cash flows related to a forecasted transaction or to be received or paid related to a recognized asset or liability. Changes in the fair value of derivative instruments that are designated as cash flow hedges are reported in OCI. These changes are subsequently reclassified into earnings when the hedged transactions affect earnings. Changes in the fair value of interest rate and foreign currency derivative instruments that do not qualify for hedge accounting are recorded in earnings. 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 ongoing basis, whether the derivative instruments that are designated as hedging instruments 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 if 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, gains or losses on the hedging instruments are reclassified from accumulated OCI into earnings immediately. Earnings Per Share Basic earnings per share (“EPS”) is computed by dividing net income or loss attributable to common shareholders by the weighted average shares of our common stock outstanding. The calculation of diluted EPS is similar to that for basic EPS, except that the denominator includes dilutive common stock equivalents and the numerator excludes the effects of dilutive common stock equivalents, if any. We have shares of restricted stock issued and outstanding that are currently unvested. Because holders of shares of unvested restricted stock are entitled to the same liquidation and dividend rights as the holders of our unrestricted common stock, we are required to compute basic and diluted EPS under the two-class method in periods in which we have earnings. Under the two-class method, the undistributed earnings available to common shareholders for each period are allocated based on the participation rights of both common shareholders and the holders of any participating securities as if earnings for the respective periods had been distributed. 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 obligated to share in such losses. Major Customers and Concentration of Risk We offer our products and services primarily in the offshore oil and gas and renewable markets. 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 and volatility, which are subject to many external factors. Our customers consist primarily of major and independent oil and gas producers and suppliers, pipeline transmission companies, renewable energy companies and offshore engineering and construction firms. We perform ongoing credit evaluations of our customers and provide allowances for credit losses. The percentages of consolidated revenue from major customers (those representing 10% or more of our consolidated revenues) are as follows: 2020 — Petrobras (28%) and BP (17%); 2019 — Petrobras (29%), BP (15%) and Shell (13%); and 2018 — Petrobras (28%) and BP (15%). Most of the concentration of revenues are in our Well Intervention segment. 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 approaches as described in Note 20. New Accounting Standards New accounting standards adopted In February 2016, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) No. 2016-02, “Leases (Topic 842)” (“ASC 842”), which was updated by subsequent amendments. ASC 842 requires a lessee to recognize a lease ROU asset and related lease liability for most leases, including those classified as operating leases. ASC 842 also changes the definition of a lease and requires expanded quantitative and qualitative disclosures for both lessees and lessors. We adopted ASC 842 as of January 1, 2019 using the modified retrospective method. We also elected the package of practical expedients permitted under the transition guidance that, among other things, allows companies to carry forward their historical lease classification. Our adoption of ASC 842 resulted in the recognition of operating lease liabilities of $259.0 million and corresponding ROU assets of $253.4 million (net of existing prepaid/deferred rent balances) as of January 1, 2019. In addition, we reclassified the remaining deferred gain of $4.6 million (net of deferred taxes of $0.9 million) on a 2016 sale and leaseback transaction to retained earnings. Subsequent to adoption, leases in foreign currencies will generate foreign currency gains and losses, and we will no longer amortize the deferred gain from the aforementioned sale and leaseback transaction. Aside from these changes, ASC 842 has not had, and is not expected to have, a material impact on our net earnings or cash flows. See Note 6 for additional information regarding our leases. In June 2016, the FASB issued ASU No. 2016-13, “Measurement of Credit Losses on Financial Instruments,” which was updated by subsequent amendments. This ASU replaces the current incurred loss model for measurement of credit losses on financial assets (including trade receivables) with a forward-looking expected loss model based on historical experience, current conditions, and reasonable and supportable forecasts. Upon adoption of ASU No. 2016-13 on January 1, 2020, we recognized $0.6 million (net of deferred taxes of $0.2 million) related to the provision for current expected credit losses on our accounts receivable through a cumulative effect offset to retained earnings. The credit loss standard also resulted in the recognition of an additional $0.7 million in credit loss reserves on our accounts receivable for the year ended December 31, 2020. See Note 19 for additional information regarding allowance for credit losses on our accounts receivable. New accounting standards issued but not yet effective In August 2020, the FASB issued ASU No. 2020-06, “Accounting for Convertible Instruments and Contracts in an Entity's Own Equity,” which simplifies the accounting for certain financial instruments with characteristics of liabilities and equity, including convertible instruments and contracts in an entity’s own equity. Among other changes, this ASU removes from GAAP the requirement to separate certain convertible instruments, such as our Convertible Senior Notes Due 2022, Convertible Senior Notes Due 2023 and Convertible Senior Notes Due 2026 (Note 8), into liability and equity components. Consequently, those convertible instruments will be accounted for in their entirety as liabilities measured at their amortized cost. We have elected to early adopt ASU No. 2020-06 on a modified retrospective basis as of January 1, 2021. The adoption of this ASU will increase our long-term debt and decrease common stock by approximately $44.1 million and $41.5 million, respectively, as we reclassify the conversion features associated with our various outstanding convertible senior notes from equity to long-term debt. The adoption of this ASU will also increase our retained earnings and decrease deferred tax liabilities by approximately $6.7 million and $9.3 million, respectively. The embedded conversion feature will no longer be amortized into income as interest expense over the life of the instrument. Subsequent to its adoption, the ASU is also expected to reduce our interest expense as there will no longer be debt discounts associated with our outstanding convertible senior notes. Additionally, the ASU no longer permits the treasury stock method for convertible instruments and instead requires the application of the if-converted method to calculate the impact of our convertible senior notes on diluted EPS. 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, 2020

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Details Of Certain Accounts

Note 3 — Details of Certain Accounts

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


	December 31,
	2020		2019

Contract assets (Note 12)	$	2,446	$	740
Prepaids	15,904		12,635
Deferred costs (Note 12)	23,522		28,340
Income tax receivable (Note 9)	20,787		1,261
Other receivable (Note 16)	29,782		—
Other	9,651		7,474
Total other current assets	$	102,092	$	50,450

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


	December 31,
	2020		2019


Deferred recertification and dry dock costs, net (Note 2)	$	21,464	$	16,065
Deferred costs (Note 12)	861		14,531
Charter deposit (1)	12,544		12,544
Other receivable (Note 16)	—		27,264
Goodwill (Note 7)	—		7,157
Intangible assets with finite lives, net (Note 2)	3,809		3,847
Other	1,335		3,100
Total other assets, net	$	40,013	$	84,508

(1)This amount is deposited with the owner of the Siem Helix 2 to offset certain payment obligations associated with the vessel at the end of the charter term.

Accrued liabilities consist of the following (in thousands):


	December 31,
	2020		2019

Accrued payroll and related benefits	$	24,768	$	31,417
Accrued interest	7,098		3,942
Investee losses in excess of investment (Note 5)	1,499		4,069
Deferred revenue (Note 12)	8,140		11,568
AROs (Note 16)	30,913		—

Other	14,617		11,393
Total accrued liabilities	$	87,035	$	62,389

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


	December 31,
	2020		2019



Deferred revenue (Note 12)	$	1,869	$	8,286
AROs (Note 16)	—		28,258

Other	2,009		2,100
Total other non-current liabilities	$	3,878	$	38,644

Property And Equipment

12 Months Ended

Dec. 31, 2020

Property, Plant and Equipment [Abstract]

Property And Equipment

Note 4 — Property and Equipment

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


		December 31,
	Estimated Useful Life	2020		2019

Vessels	15 to 30 years	$	2,349,752	$	2,323,314
ROVs, trenchers and ROVDrill	10 years	263,968		270,004
Machinery, equipment and leasehold improvements	5 to 15 years	335,187		328,956
Total property and equipment		$	2,948,907	$	2,922,274

Equity Method Investments	12 Months Ended
Equity Method Investments	Dec. 31, 2020
Equity Method Investments and Joint Ventures [Abstract]
Equity Method Investments	Note 5 — Equity Method Investments We have a 20% ownership interest in Independence Hub, LLC (“Independence Hub”) that we account for using the equity method of accounting. Independence Hub owns the “Independence Hub” platform, which is nearing the completion of its decommissioning. The remaining liability balances for our share of Independence Hub’s estimated obligations, net of remaining working capital, were $1.5 million and $4.1 million at December 31, 2020 and 2019, respectively.

Leases

12 Months Ended

Dec. 31, 2020

Leases [Abstract]

Leases

Note 6 — Leases

We charter vessels and lease facilities and equipment under non-cancelable contracts that expire on various dates through 2031. We also sublease some of our facilities under non-cancelable sublease agreements. As of December 31, 2020, the minimum sublease income to be received in the future totaled $2.1 million.

The following table details the components of our lease cost in 2020 and 2019 (in thousands):


	Year Ended December 31,
	2020		2019

Operating lease cost	$	64,742	$	70,860
Variable lease cost	15,021		13,780
Short-term lease cost	37,524		20,384
Sublease income	(1,286)		(1,391)
Net lease cost	$	116,001	$	103,633

For the year ended December 31, 2018, total rental expense was approximately $147.8 million and total sublease rental income was $1.4 million.

Maturities of our operating lease liabilities as of December 31, 2020 are as follows (in thousands):


	Vessels		Facilities and Equipment		Total

Less than one year	$	54,621	$	6,028	$	60,649
One to two years	52,106		5,435		57,541
Two to three years	34,580		4,649		39,229
Three to four years	2,470		4,374		6,844
Four to five years	—		2,340		2,340
Over five years	—		4,054		4,054
Total lease payments	$	143,777	$	26,880	$	170,657
Less: imputed interest	(13,352)		(4,697)		(18,049)
Total operating lease liabilities	$	130,425	$	22,183	$	152,608

Current operating lease liabilities	$	46,748	$	4,851	$	51,599
Non-current operating lease liabilities	83,677		17,332		101,009
Total operating lease liabilities	$	130,425	$	22,183	$	152,608

Maturities of our operating lease liabilities as of December 31, 2019 are as follows (in thousands):


	Vessels		Facilities and Equipment		Total

Less than one year	$	60,210	$	6,610	$	66,820
One to two years	54,564		5,888		60,452
Two to three years	52,106		5,257		57,363
Three to four years	34,580		4,622		39,202
Four to five years	2,470		4,349		6,819
Over five years	—		6,251		6,251
Total lease payments	$	203,930	$	32,977	$	236,907
Less: imputed interest	(24,846)		(6,449)		(31,295)
Total operating lease liabilities	$	179,084	$	26,528	$	205,612

Current operating lease liabilities	$	48,716	$	5,069	$	53,785
Non-current operating lease liabilities	130,368		21,459		151,827
Total operating lease liabilities	$	179,084	$	26,528	$	205,612

The following table presents the weighted average remaining lease term and discount rate:


	December 31,
	2020		2019

Weighted average remaining lease term	3.1 years		4.0 years
Weighted average discount rate	7.53	%	7.54	%

The following table presents other information related to our operating leases (in thousands):


	Year Ended December 31,
	2020		2019

Cash paid for operating lease liabilities	$	66,026	$	71,698
ROU assets obtained in exchange for new operating lease obligations	516		1,168

Business Combinations And Goodwill

12 Months Ended

Dec. 31, 2020

Business Combinations and Goodwill [Abstract]

Business Combinations And Goodwill

Note 7 — Business Combinations and Goodwill

In May 2019, we acquired a 70% controlling interest in STL, a subsea engineering firm based in Aberdeen, Scotland, for $5.1 million. The holders of the remaining 30% noncontrolling interest currently have the right to put their shares to us in June 2024. These redeemable noncontrolling interests have been recognized as temporary equity. STL is included in our Well Intervention segment (Note 15) and its revenue and earnings are immaterial to our consolidated results.

As a result of the decline in oil prices as well as energy and energy services valuations during the first quarter 2020 due to the ongoing COVID-19 pandemic and the OPEC+ price war, we impaired all of our goodwill, which consisted entirely of our goodwill in STL.

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


	Well Intervention

Balance at December 31, 2018	$	—
Additions (1)	6,855

Other adjustments (2)	302
Balance at December 31, 2019	7,157

Other adjustments (2)	(468)
Impairment loss (3)	(6,689)

Balance at December 31, 2020	$	—

(1)Relates to goodwill arising from the acquisition of a controlling interest in STL in May 2019.

(2)Relates to foreign currency adjustments.

(3)Relates to the impairment of the entire STL goodwill balance in March 2020.

Long-Term Debt

12 Months Ended

Dec. 31, 2020

Debt Disclosure [Abstract]

Long-Term Debt

Note 8 — Long-Term Debt

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


	December 31,
	2020		2019


Term Loan (matures December 2021)	$	29,750	$	33,250
2022 Notes (mature May 2022)	35,000		125,000
2023 Notes (mature September 2023)	30,000		125,000
2026 Notes (mature February 2026)	200,000		—
MARAD Debt (matures February 2027)	56,410		63,610
Nordea Q5000 Loan (matures January 2021) (1)	53,572		89,286
Unamortized debt discounts	(45,692)		(22,540)
Unamortized debt issuance costs	(9,477)		(7,753)
Total debt	349,563		405,853
Less current maturities	(90,651)		(99,731)
Long-term debt	$	258,912	$	306,122

(1)We repaid the Nordea Q5000 Loan in January 2021.

Credit Agreement

We have a credit agreement (and the amendments made thereafter, collectively the “Credit Agreement”) with a group of lenders led by Bank of America, N.A. (“Bank of America”). The Credit Agreement is comprised of a Term Loan with a remaining balance of $29.8 million as of December 31, 2020 and a Revolving Credit Facility with a maximum availability of $175 million that matures on December 31, 2021. The Revolving Credit Facility permits us to obtain letters of credit up to a sublimit of $25 million. Pursuant to the Credit Agreement, subject to existing lender participation and/or the participation of new lenders, and subject to standard conditions precedent, we may request aggregate commitments of up to $100 million with respect to an increase in the Revolving Credit Facility. As of December 31, 2020, the Term Loan is classified as current in the accompanying consolidated balance sheet. As of December 31, 2020, we had no borrowings under the Revolving Credit Facility, and our available borrowing capacity under that facility, based on the leverage ratios, totaled $160.2 million, net of $2.8 million of letters of credit issued under that facility.

Borrowings under the Credit Agreement bear interest, at our election, at either Bank of America’s base rate, the LIBOR or a comparable successor rate, or a combination thereof. The Term Loan bearing interest at the base rate will bear interest at a per annum rate equal to Bank of America’s base rate plus a margin of 2.25%. The Term Loan bearing interest at a LIBOR rate will bear interest per annum at the LIBOR or a comparable successor rate selected by us plus a margin of 3.25%. The interest rate on the Term Loan was 3.40% as of December 31, 2020. Borrowings under the Revolving Credit Facility bearing interest at the base rate will bear interest at a per annum rate equal to Bank of America’s base rate plus a margin ranging from 1.50% to 2.50%. Borrowings under the Revolving Credit Facility bearing interest at a LIBOR rate will bear interest per annum at the LIBOR or a comparable successor rate selected by us plus a margin ranging from 2.50% to 3.50%. A letter of credit fee is payable by us equal to the applicable margin for LIBOR rate loans multiplied by the daily amount available to be drawn under the applicable letter of credit. Margins on borrowings under the Revolving Credit Facility will vary in relation to the Consolidated Total Leverage Ratio (as defined below) as provided for in the Credit Agreement. We also pay a fixed commitment fee of 0.50% per annum on the unused portion of the Revolving Credit Facility.

The Term Loan principal is required to be repaid in quarterly installments of 2.5% of its aggregate principal amount, with a balloon payment at maturity. Installments are subject to adjustment for any prepayments. We may prepay indebtedness outstanding under the Term Loan without premium or penalty, but may not reborrow any amounts prepaid. We may prepay indebtedness outstanding under the Revolving Credit Facility without premium or penalty, and may reborrow any amounts prepaid up to the amount available under the Revolving Credit Facility.

Our obligations under the Credit Agreement, and those of our subsidiary guarantors under their guarantee, are secured by (i) most of the assets of the parent company, (ii) the shares of our domestic subsidiaries (other than Cal Dive I - Title XI, Inc.) and of Helix Robotics Solutions Limited and (iii) most of the assets of our domestic subsidiaries (other than Cal Dive I - Title XI, Inc.) and of Helix Robotics Solutions Limited. In addition, these obligations are secured by pledges of up to 66% of the shares of certain foreign subsidiaries (restricted subsidiaries).

The Credit Agreement and the other documents entered into in connection with the Credit Agreement include terms and conditions, including covenants, that we consider customary for this type of transaction. The covenants include certain restrictions on our and certain of our subsidiaries’ ability to grant liens, incur indebtedness, make investments, merge or consolidate, sell or transfer assets, pay dividends and make capital expenditures. In addition, the Credit Agreement obligates us to meet minimum ratio requirements of EBITDA to interest charges (Consolidated Interest Coverage Ratio), funded debt to EBITDA (Consolidated Total Leverage Ratio) and secured funded debt to EBITDA (Consolidated Secured Leverage Ratio).

We may designate one or more of our new foreign subsidiaries as subsidiaries not generally subject to the covenants in the Credit Agreement (the “Unrestricted Subsidiaries”). The Unrestricted Subsidiaries are not pledged as collateral under the Credit Agreement, and the debt and EBITDA of the Unrestricted Subsidiaries, with the exception of Helix Q5000 Holdings, S.à r.l. (“Q5000 Holdings”), a wholly owned Luxembourg subsidiary of Helix Vessel Finance S.à r.l., are not included in the calculations of our financial covenants except to the extent of any cash actually distributed by such subsidiary to Helix.

In June 2019, in connection with an amendment of the Credit Agreement we wrote off the remaining unamortized debt issuance costs associated with a lender exiting the Credit Agreement. In March 2018, we prepaid $61 million of the then-existing term loan with a portion of the net proceeds from the 2023 Notes and wrote off $0.9 million of unamortized debt issuance costs. These write-offs are presented as “Loss on extinguishment of long-term debt” in the accompanying consolidated statements of operations.

Convertible Senior Notes Due 2022 (“2022 Notes”)

The 2022 Notes bear interest at a rate of 4.25% per annum and are payable semi-annually in arrears on November 1 and May 1 of each year, beginning on May 1, 2017. The 2022 Notes mature on May 1, 2022 unless earlier converted, redeemed or repurchased. During certain periods and subject to certain conditions, the 2022 Notes are convertible by the holders into shares of our common stock at an initial conversion rate of 71.9748 shares of our common stock per $1,000 principal amount (which represents an initial conversion price of approximately $13.89 per share of common stock), subject to adjustment in certain circumstances. We have the right and the intention to settle the principal amount of any such future conversions in cash.

Prior to November 1, 2019, the 2022 Notes were not redeemable. Beginning November 1, 2019, if certain conditions are met, we may redeem all or any portion of the 2022 Notes at a redemption price payable in cash equal to 100% of the principal amount to be redeemed plus accrued and unpaid interest and a “make-whole premium” (as defined in the indenture governing the 2022 Notes). Holders of the 2022 Notes may require us to repurchase the notes following a “fundamental change” (as defined in the indenture governing the 2022 Notes).

The indenture governing the 2022 Notes contains customary terms and covenants, including that upon certain events of default occurring and continuing, either the trustee under the indenture or the holders of not less than 25% in aggregate principal amount then outstanding under the 2022 Notes may declare the entire principal amount of all the notes, and the interest accrued on such notes, if any, to be immediately due and payable. In the case of certain events of bankruptcy, insolvency or reorganization relating to us or a significant subsidiary, the principal amount of the 2022 Notes together with any accrued and unpaid interest thereon will become immediately due and payable.

The 2022 Notes were initially separated between the equity component recognized in shareholders’ equity and the debt component, which is presented as long-term debt, net of the unamortized debt discount and debt issuance costs.

On August 14, 2020, we repurchased $90 million in aggregate principal amount of the 2022 Notes for $89.1 million. We applied $81.7 million of the repurchase price to the acquisition of the debt component of the 2022 Notes and recognized an extinguishment gain of $3.3 million. The remaining unamortized debt discount of the 2022 Notes was $1.3 million and $8.0 million at December 31, 2020 and 2019, respectively. We applied the remaining $7.4 million of the repurchase price to the re-acquisition of the equity component. The remaining equity component of the 2022 Notes was $9.5 million ($5.3 million net of tax) and $16.9 million ($11.0 million net of tax) at December 31, 2020 and 2019, respectively.

The effective interest rate for the 2022 Notes is 7.3% after considering the effect of the accretion of the related debt discount over the term of the 2022 Notes. For the years ended December 31, 2020, 2019 and 2018, interest expense (including amortization of the debt discount) related to the 2022 Notes totaled $6.2 million, $8.4 million and $8.1 million, respectively. With the adoption of ASU No. 2020-06 beginning January 1, 2021, the 2022 Notes will no longer be reported at a discount. See Note 2 for the effect of ASU No. 2020-06.

Convertible Senior Notes Due 2023 (“2023 Notes”)

The 2023 Notes bear interest at a rate of 4.125% per annum and are payable semi-annually in arrears on March 15 and September 15 of each year, beginning on September 15, 2018. The 2023 Notes mature on September 15, 2023 unless earlier converted, redeemed or repurchased. During certain periods and subject to certain conditions, the 2023 Notes are convertible by the holders into shares of our common stock at an initial conversion rate of 105.6133 shares of our common stock per $1,000 principal amount (which represents an initial conversion price of approximately $9.47 per share of common stock), subject to adjustment in certain circumstances. We have the right and the intention to settle the principal amount of any such future conversions in cash.

Prior to March 15, 2021, the 2023 Notes are not redeemable. On or after March 15, 2021, if certain conditions are met, we may redeem all or any portion of the 2023 Notes at a redemption price payable in cash equal to 100% of the principal amount to be redeemed plus accrued and unpaid interest and a “make-whole premium” (as defined in the indenture governing the 2023 Notes). Holders of the 2023 Notes may require us to repurchase the notes following a “fundamental change” (as defined in the indenture governing the 2023 Notes).

The indenture governing the 2023 Notes contains customary terms and covenants, including that upon certain events of default occurring and continuing, either the trustee under the indenture or the holders of not less than 25% in aggregate principal amount then outstanding under the 2023 Notes may declare the entire principal amount of all the notes, and the interest accrued on such notes, if any, to be immediately due and payable. In the case of certain events of bankruptcy, insolvency or reorganization relating to us or a significant subsidiary, the principal amount of the 2023 Notes together with any accrued and unpaid interest thereon will become immediately due and payable.

The 2023 Notes were initially separated between the equity component recognized in shareholders’ equity and the debt component, which is presented as long-term debt, net of the unamortized debt discount and debt issuance costs.

On August 14, 2020, we repurchased $95 million in aggregate principal amount of the 2023 Notes for $94.1 million. We applied $78.2 million of the repurchase price to the re-acquisition of the debt component of the 2023 Notes and recognized an extinguishment gain of $5.9 million. The remaining unamortized debt discount of the 2023 Notes was $2.7 million and $14.5 million at December 31, 2020 and 2019, respectively. We applied the remaining $15.9 million of the repurchase price to the re-acquisition of the equity component. The remaining equity component of the 2023 Notes was $4.2 million ($3.6 million net of tax) and $20.1 million ($15.9 million net of tax) at December 31, 2020 and 2019, respectively.

The effective interest rate for the 2023 Notes is 7.8% after considering the effect of the accretion of the related debt discount over the term of the 2023 Notes. For the years ended December 31, 2020, 2019 and 2018, interest expense (including amortization of the debt discount) related to the 2023 Notes totaled $6.1 million, $8.4 million and $6.4 million, respectively. With the adoption of ASU No. 2020-06 beginning January 1, 2021, the 2023 Notes will no longer be reported at a discount. See Note 2 for the effect of ASU No. 2020-06.

Convertible Senior Notes Due 2026 (“2026 Notes”)

On August 14, 2020, we issued $200 million in aggregate principal amount of the 2026 Notes. The net proceeds from the issuance of the 2026 Notes were approximately $192.5 million, after deducting the underwriting discounts and commissions and estimated offering expenses. As discussed further in Note 10, we used approximately $10.5 million of the net proceeds to enter into the 2026 Capped Calls. We used the remainder of the net proceeds, together with cash on hand, to repurchase $90 million in aggregate principal amount of the 2022 Notes and $95 million in aggregate principal amount of the 2023 Notes (see “Convertible Senior Notes Due 2022” and “Convertible Senior Notes Due 2023” above) in privately negotiated transactions.

The 2026 Notes bear interest at a rate of 6.75% per annum and are payable semi-annually in arrears on February 15 and August 15 of each year, beginning on February 15, 2021. The 2026 Notes mature on February 15, 2026 unless earlier converted, redeemed or repurchased. During certain periods and subject to certain conditions, the 2026 Notes are convertible by the holders into shares of our common stock at an initial conversion rate of 143.3795 shares of our common stock per $1,000 principal amount (which represents an initial conversion price of approximately $6.97 per share of common stock), subject to adjustment in certain circumstances. In order to reduce the potential dilution of the 2026 Notes to shareholders’ equity, we entered into the 2026 Capped Calls, which effectively increase the conversion price of the 2026 Notes to approximately $8.42 per share. However, the 2026 Capped Calls are separate transactions from the 2026 Notes and do not change the holders’ rights under the 2026 Notes, and holders of the 2026 Notes do not have any rights with respect to the 2026 Capped Calls (Note 10). We have the right and the intention to settle the principal amount of any such future conversions in cash.

Prior to August 15, 2023, the 2026 Notes are not redeemable. On or after August 15, 2023, if certain conditions are met, we may redeem all or any portion of the 2026 Notes at a redemption price payable in cash equal to 100% of the principal amount to be redeemed plus accrued and unpaid interest and a “make-whole premium” (as defined in the indenture governing the 2026 Notes). Holders of the 2026 Notes may require us to repurchase the notes following a “fundamental change” (as defined in the indenture governing the 2026 Notes).

The indenture governing the 2026 Notes contains customary terms and covenants, including that upon certain events of default occurring and continuing, either the trustee under the indenture or the holders of not less than 25% in aggregate principal amount then outstanding under the 2026 Notes may declare the entire principal amount of all the notes, and the interest accrued on such notes, if any, to be immediately due and payable. In the case of certain events of bankruptcy, insolvency or reorganization relating to us or a significant subsidiary, the principal amount of the 2026 Notes together with any accrued and unpaid interest thereon will become immediately due and payable.

The 2026 Notes are separated between the equity component of $43.8 million ($34.6 million net of tax) recognized in shareholders’ equity and the debt component which is presented as long-term debt, net of the unamortized debt discount and debt issuance costs. The effective interest rate for the 2026 Notes is 12.4% after considering the effect of the accretion of the related debt discount over the term of the 2026 Notes. For the year ended December 31, 2020, interest expense (including amortization of the debt discount) related to the 2026 Notes was $7.2 million. The remaining unamortized debt discount of the 2026 Notes was $41.7 million at December 31, 2020. With the adoption of ASU No. 2020-06 beginning January 1, 2021, the 2026 Notes will no longer be reported at a discount. See Note 2 for the effect of ASU No. 2020-06.

MARAD Debt

This U.S. government guaranteed financing (the “MARAD Debt”), pursuant to Title XI of the Merchant Marine Act of 1936 administered by the Maritime Administration, was used to finance the construction of the Q4000. The MARAD Debt is collateralized by the Q4000 and is guaranteed 50% by us. The MARAD Debt is payable in equal semi-annual installments, matures in February 2027 and bears interest at a rate of 4.93%.

Nordea Credit Agreement

In September 2014, 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 to us. Helix Vessel Finance S.à r.l., Q5000 Holdings's parent, which is a wholly owned Luxembourg subsidiary of Helix, has 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.

We amended the Nordea Credit Agreement on March 11, 2020. Prior to the amendment, the Nordea Q5000 Loan incurred interest at a LIBOR rate plus a margin of 2.5% and was repayable in scheduled quarterly principal installments of $8.9 million with a balloon payment of $80.4 million on April 30, 2020. The amendment increased the margin to 2.75%, maintained the existing quarterly amortization requirements, and extended the final maturity to January 31, 2021 with a balloon payment on that date of $53.6 million. The remaining principal balance and unamortized debt issuance costs related to the Nordea Q5000 Loan are classified as current in the accompanying consolidated balance sheets. We repaid the remaining balance of the Nordea Q5000 Loan at its maturity on January 29, 2021.

Other

We previously issued additional convertible senior notes in March 2012, which were originally scheduled to mature on March 15, 2032 (the “2032 Notes”). In 2018, we fully redeemed the remaining $60.1 million in aggregate principal amount of the 2032 Notes and recognized a corresponding $0.2 million loss. The loss is presented as “Loss on extinguishment of long-term debt” in the accompanying consolidated statement of operations.

In accordance with the Credit Agreement, the 2022 Notes, the 2023 Notes, the 2026 Notes, the MARAD Debt agreements and the Nordea Credit Agreement, we are required to comply with certain covenants, including with respect to the Credit Agreement, certain financial ratios such as a consolidated interest coverage ratio, a consolidated total leverage ratio and a consolidated secured leverage ratio, as well as the maintenance of minimum cash balance, net worth, working capital and debt-to-equity requirements. As of December 31, 2020, we were in compliance with these covenants.

Scheduled maturities of our long-term debt outstanding as of December 31, 2020 are as follows (in thousands):


	Term Loan		2022 Notes		2023 Notes		2026 Notes		MARAD Debt		Nordea Q5000 Loan		Total

Less than one year	$	29,750	$	—	$	—	$	—	$	7,560	$	53,572	$	90,882
One to two years	—		35,000		—		—		7,937		—		42,937
Two to three years	—		—		30,000		—		8,333		—		38,333
Three to four years	—		—		—		—		8,749		—		8,749
Four to five years	—		—		—		—		9,186		—		9,186
Over five years	—		—		—		200,000		14,645		—		214,645
Gross debt	29,750		35,000		30,000		200,000		56,410		53,572		404,732
Unamortized debt discounts (1)	—		(1,325)		(2,651)		(41,716)		—		—		(45,692)
Unamortized debt issuance costs (2)	(191)		(198)		(427)		(5,572)		(3,049)		(40)		(9,477)
Total debt	29,559		33,477		26,922		152,712		53,361		53,532		349,563
Less current maturities	(29,559)		—		—		—		(7,560)		(53,532)		(90,651)
Long-term debt	$	—	$	33,477	$	26,922	$	152,712	$	45,801	$	—	$	258,912

(1)The 2022 Notes, the 2023 Notes and the 2026 Notes will increase to their face amounts through accretion of their debt discounts to interest expense through May 2022, September 2023 and February 2026, respectively. See Note 2 for future accounting changes related to these discounts.

(2)Debt issuance costs are amortized to interest expense over the term of the applicable debt agreement.

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


	Year Ended December 31,
	2020		2019		2018

Interest expense	$	30,538	$	31,186	$	32,617
Capitalized interest (1)	(1,182)		(20,246)		(15,629)
Interest income	(825)		(2,607)		(3,237)
Net interest expense	$	28,531	$	8,333	$	13,751

(1)The significant reduction in capitalized interest in 2020 was attributable to the conclusion of our planned major capital commitments following the completion of the Q7000.

Income Taxes

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Income Taxes

Note 9 — Income Taxes

We and our subsidiaries file a consolidated U.S. federal income tax return. We believe that our recorded deferred tax assets and liabilities are reasonable. However, tax laws and regulations are subject to interpretation, and the outcomes of tax disputes are inherently uncertain; 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) reflected in the consolidated statements of operations consist of the following (in thousands):


	Year Ended December 31,
	2020		2019		2018

Current	$	(14,818)	$	4,374	$	4,830
Deferred	(3,883)		3,485		(2,430)
	$	(18,701)	$	7,859	$	2,400


Domestic	$	(15,074)	$	3,715	$	(3,161)
Foreign	(3,627)		4,144		5,561
	$	(18,701)	$	7,859	$	2,400

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


	Year Ended December 31,
	2020		2019		2018

Domestic	$	(3,406)	$	2,219	$	(28,838)
Foreign	4,789		63,337		59,836
	$	1,383	$	65,556	$	30,998

The U.S. Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”), which was signed into law on March 27, 2020, is an economic stimulus package designed to aid in offsetting the economic damage caused by the ongoing COVID-19 pandemic and includes various changes to U.S. income tax regulations. The CARES Act permits the carryback of certain net operating losses, which previously had been required to be carried forward, at the tax rates applicable in the relevant carryback year. As a result of these changes, we recognized a $7.6 million net tax benefit in the year ended December 31, 2020, consisting of an $18.9 million current tax benefit, which is reflected in our income tax receivable at December 31, 2020, and a $11.3 million deferred tax expense. This $7.6 million net tax benefit resulted from our deferred tax assets related to our net operating losses in the U.S. being utilized at the previous higher income tax rate applicable to the carryback periods.

During the year ended December 31, 2020, we migrated two of our foreign subsidiaries into our U.S. consolidated tax group. Subsequent to the migration, these subsidiaries are disregarded and no longer subject to certain branch profits taxes. Consequently, we recognized net deferred tax benefits of $8.3 million due to the reduction in the overall tax rate associated with these subsidiaries.

Income taxes are provided based on the U.S. statutory rate 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 income tax provision (benefit) at the U.S. statutory rate and our actual income tax provision (benefit) are as follows:


	Year Ended December 31,
	2020				2019				2018

Taxes at U.S. statutory rate	$	290	21.0	%	$	13,767	21.0	%	$	6,510	21.0	%
Foreign tax provision	(3,426)		(247.7)		(6,557)		(10.0)		(4,941)		(15.9)
CARES Act	(7,596)		(549.2)		—		—		—		—
Subsidiary restructuring	(8,333)		(602.5)		—		—		—		—
Other	364		26.2		649		1.0		831		2.6
Income tax provision (benefit)	$	(18,701)	(1,352.2)	%	$	7,859	12.0	%	$	2,400	7.7	%

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,
	2020		2019
Deferred tax liabilities:
Depreciation	$	153,226	$	166,239
Debt discounts on 2022 Notes, 2023 Notes and 2026 Notes	9,298		4,643

Total deferred tax liabilities	$	162,524	$	170,882
Deferred tax assets:
Net operating losses	$	(59,794)	$	(64,178)
Reserves, accrued liabilities and other	(11,631)		(13,203)
Total deferred tax assets	(71,425)		(77,381)
Valuation allowance	19,722		18,631
Net deferred tax liabilities	$	110,821	$	112,132

At December 31, 2020, our U.S. net operating losses available for carryforward totaled $197.4 million, of which $85.1 million occurred after the passage of the 2017 Tax Act and are not subject to expiration. The U.S. net operating loss carryforwards generated prior to 2018 in the amount of $112.3 million will begin to expire in 2035 if unused. Realization of net operating losses is dependent on generating sufficient taxable income prior to expiration of the loss carryforwards. Although realization is not assured, management believes it is more likely than not that all of these tax attributes will be utilized. The amount of the deferred tax asset considered realizable, however, could be reduced if estimates of future taxable income during the carryforward period are reduced.

At December 31, 2020, we had a $2.9 million valuation allowance recorded against our U.S. deferred tax assets for foreign tax credits. Management believes it is more likely than not that we will not be able to utilize the foreign tax credits prior to their expiration.

At December 31, 2020, we had a $16.8 million valuation allowance related to certain non-U.S. deferred tax assets, primarily net operating losses from our Robotics segment in the U.K., as management believes it is more likely than not that we will not be able to utilize the tax benefits. Additional valuation allowances may be made in the future if in management’s opinion it is more likely than not that future tax benefits will not be utilized.

At December 31, 2020, we had accumulated undistributed earnings generated by our non-U.S. subsidiaries without operations in the U.S. of approximately $62.2 million. Due to the enactment of the U.S. Tax Cuts and Jobs Act (the “2017 Tax Act”), repatriations of foreign earnings will generally be free of U.S. federal tax but may be subject to changes in future tax legislation that may result in taxation. Indefinite reinvestment is determined by management’s intentions concerning our future operations. We intend to indefinitely reinvest these earnings, as well as future earnings from our non-U.S. subsidiaries without operations in the U.S., to fund our international operations. In addition, we expect future U.S. cash generation will be sufficient to meet future U.S. cash needs. We have not provided deferred income taxes on the accumulated earnings and profits from our non-U.S. subsidiaries without operations in the U.S. as we consider them permanently reinvested. Due to complexities in the tax laws and the manner of repatriation, it is not practicable to estimate the unrecognized amount of deferred income taxes associated with these undistributed earnings.

We recorded an uncertain tax position of $0.7 million in 2020 related to a research and development credit taken on our 2019 U.S. Federal Income Tax Return and certain expenses not reversed for tax purposes. We account for tax-related interest in interest expense and tax penalties in selling, general and administrative expenses. We did not record any interest related to these positions in 2020 as the amount was immaterial. The statute of limitations on $0.3 million of uncertain tax positions expired in 2019. Therefore, as of December 31, 2019, there were no unrecognized tax benefits related to uncertain tax positions.

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 taxing authorities would not have a material impact on our financial position. The tax periods from 2013, 2014, and 2018 through 2020 remain open to review and examination by the Internal Revenue Service. In non-U.S. jurisdictions, the open tax periods include 2013 through 2020.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details

Shareholders' Equity

12 Months Ended

Dec. 31, 2020

Stockholders' Equity Note [Abstract]

Shareholders' Equity

Note 10 — 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.

In connection with the 2026 Notes offering (Note 8), we entered into the 2026 Capped Calls with three separate option counterparties. The 2026 Capped Calls are separate transactions from the 2026 Notes and do not change the holders' rights under the 2026 Notes. Holders of the 2026 Notes do not have any rights with respect to the 2026 Capped Calls.

The 2026 Capped Calls are for an aggregate of 28,675,900 shares of our common stock, which corresponds to the shares into which the 2026 Notes are initially convertible. The capped call shares are subject to certain anti-dilution adjustments. Each capped call option has an initial strike price of approximately $6.97 per share, which corresponds to the initial conversion price of the 2026 Notes, and an initial cap price of approximately $8.42 per share. The strike and cap prices are subject to certain adjustments. The 2026 Capped Calls are intended to offset some or all of the potential dilution to Helix common shares caused by any conversion of the 2026 Notes up to the cap price. The 2026 Capped Calls can be settled in either net shares or cash at our option in components commencing December 15, 2025 and ending February 12, 2026, which could be extended under certain circumstances.

The 2026 Capped Calls are subject to either adjustment or termination upon the occurrence of specified extraordinary events affecting Helix, including a merger, tender offer, nationalization, insolvency or delisting. In addition, certain events may result in a termination of the 2026 Capped Calls, including changes in law, insolvency filings and hedging disruptions. The 2026 Capped Calls are recorded at their aggregate cost of $10.6 million as a reduction to common stock in the shareholders’ equity section of our consolidated balance sheet.

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


	December 31,
	2020		2019

Cumulative foreign currency translation adjustment	$	(51,620)	$	(64,455)
Net unrealized loss on hedges, net of tax (1)	—		(285)

Accumulated OCI	$	(51,620)	$	(64,740)

(1)Relates to foreign currency hedges for the Grand Canyon III charter as well as interest rate hedge contracts for the Nordea Q5000 Loan (Note 21).

Stock Buyback Program	12 Months Ended
Stock Buyback Program	Dec. 31, 2020
Equity [Abstract]
Stock Buyback Program	Note 11 — Stock Buyback Program Our Board of Directors (our “Board”) 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 share-based compensation plans, including share-based awards under our existing long-term incentive plans and shares issued to our employees under our Employee Stock Purchase Plan (the “ESPP”) (Note 14). 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. We have not purchased any shares available under this program since 2015. As of December 31, 2020, 6,913,705 shares of our common stock were available for repurchase under the program.

Revenue From Contracts With Customers

12 Months Ended

Dec. 31, 2020

Revenue from Contract with Customer [Abstract]

Revenue From Contracts With Customers

Note 12 — Revenue from Contracts with Customers

Disaggregation of Revenue

The following table provides information about disaggregated revenue by contract duration (in thousands):


	Well Intervention		Robotics		Production Facilities		Intercompany Eliminations (1)		Total Revenue
Year ended December 31, 2020
Short-term	$	206,812	$	117,439	$	—	$	—	$	324,251
Long-term	332,437		60,579		58,303		(42,015)		409,304
Total	$	539,249	$	178,018	$	58,303	$	(42,015)	$	733,555

Year ended December 31, 2019
Short-term	$	214,926	$	94,501	$	—	$	—	$	309,427
Long-term	378,374		77,171		61,210		(74,273)		442,482
Total	$	593,300	$	171,672	$	61,210	$	(74,273)	$	751,909

Year ended December 31, 2018
Short-term	$	199,294	$	89,072	$	—	$	—	$	288,366
Long-term	361,274		69,917		64,400		(44,139)		451,452
Total	$	560,568	$	158,989	$	64,400	$	(44,139)	$	739,818

(1)Intercompany revenues among our business segments are under agreements that are considered long-term.

Contract Balances

Contract assets are rights to consideration in exchange for services that we have provided to a customer when those rights are conditioned on our future performance. Contract assets generally consist of (i) demobilization fees recognized ratably over the contract term but invoiced upon completion of the demobilization activities and (ii) revenue recognized in excess of the amount billed to the customer for lump sum contracts when the cost-to-cost method of revenue recognition is utilized. Contract assets are reflected in “Other current assets” in the accompanying consolidated balance sheets (Note 3). Contract assets as of December 31, 2020 and 2019 were $2.4 million and $0.7 million, respectively. We had no credit losses on our contract assets for the years ended December 31, 2020, 2019 and 2018.

Contract liabilities are obligations to provide future services to a customer for which we have already received, or have the unconditional right to receive, the consideration for those services from the customer. Contract liabilities may consist of (i) advance payments received from customers, including upfront mobilization fees allocated to a single performance obligation and recognized ratably over the contract term and/or (ii) amounts billed to the customer in excess of revenue recognized for lump sum contracts when the cost-to-cost method of revenue recognition is utilized. Contract liabilities are reflected as “Deferred revenue,” a component of “Accrued liabilities” and “Other non-current liabilities” in the accompanying consolidated balance sheets (Note 3). Contract liabilities as of December 31, 2020 and 2019 totaled $10.0 million and $19.9 million, respectively. Revenue recognized for the years ended December 31, 2020, 2019 and 2018 included $11.6 million, $10.1 million and $11.6 million, respectively, that were included in the contract liability balance as the beginning of each period.

We report the net contract asset or contract liability position on a contract-by-contract basis at the end of each reporting period.

Performance Obligations

As of December 31, 2020, $406.7 million related to unsatisfied performance obligations was expected to be recognized as revenue in the future, with $301.2 million in 2021, $72.9 million in 2022 and $32.6 million in 2023 and thereafter. These amounts include fixed consideration and estimated variable consideration for both wholly and partially unsatisfied performance obligations, including mobilization and demobilization fees. These amounts are derived from the specific terms of our contracts, and the expected timing for revenue recognition is based on the estimated start date and duration of each contract according to the information known at December 31, 2020.

For the year ended December 31, 2019, revenues recognized from performance obligations satisfied (or partially satisfied) in previous years were $2.1 million, which resulted from the recognition of previously constrained variable consideration for contractual adjustments related to withholding taxes in Brazil. For the years ended December 31, 2020 and 2018, revenues recognized from performance obligations satisfied (or partially satisfied) in previous years were immaterial.

Contract Fulfillment Costs

Contract fulfillment costs consist of costs incurred in fulfilling a contract with a customer. Our contract fulfillment costs primarily relate to costs incurred for mobilization of personnel and equipment at the beginning of a contract and costs incurred for demobilization at the end of a contract. Mobilization costs are deferred and amortized ratably over the contract term (including anticipated contract extensions) based on the pattern of the provision of services to which the contract fulfillment costs relate. Demobilization costs are recognized when incurred at the end of the contract. Deferred contract costs are reflected as “Deferred costs,” a component of “Other current assets” and “Other assets, net” in the accompanying consolidated balance sheets (Note 3). Our deferred contract costs as of December 31, 2020 and 2019 totaled $24.4 million and $42.9 million, respectively. For the years ended December 31, 2020, 2019 and 2018, we recorded $35.8 million, $31.5 million and $33.1 million, respectively, related to amortization of deferred contract costs. There were no associated impairment losses for any period presented.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI http://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130556-203045

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130550-203045

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
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-Section 50
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-Subparagraph (d)
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
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-Section 50
-Paragraph 12
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

+ Details

Earnings Per Share

12 Months Ended

Dec. 31, 2020

Earnings Per Share [Abstract]

Earnings Per Share

Note 13 — 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,
	2020			2019			2018
	Income		Shares	Income		Shares	Income		Shares
Basic:
Net income attributable to common shareholders	$	22,174		$	57,919		$	28,598
Less: Undistributed earnings allocated to participating securities	(140)			(487)			(273)
Accretion of redeemable noncontrolling interests	(2,400)			(143)			—
Net income available to common shareholders, basic	$	19,634	148,993	$	57,289	147,536	$	28,325	146,702






Diluted:
Net income available to common shareholders, basic	$	19,634	148,993	$	57,289	147,536	$	28,325	146,702
Effect of dilutive securities:
Share-based awards other than participating securities	—		904	—		2,041	—		128
Undistributed earnings reallocated to participating securities	1		—	6		—	1		—
Net income available to common shareholders, diluted	$	19,635	149,897	$	57,295	149,577	$	28,326	146,830

The following weighted average potentially dilutive shares related to the 2022 Notes, the 2023 Notes, the 2026 Notes and the 2032 Notes were excluded from the diluted EPS calculation as they were anti-dilutive (in thousands):


	Year Ended December 31,
	2020	2019	2018

2022 Notes	6,537	8,997	8,997
2023 Notes	9,391	13,202	10,344
2026 Notes	10,891	—	—
2032 Notes (1)	—	—	524

(1)The 2032 Notes were fully redeemed in 2018.

Employee Benefit Plans

12 Months Ended

Dec. 31, 2020

Share-based Payment Arrangement [Abstract]

Employee Benefit Plans

Note 14 — Employee Benefit Plans

Defined Contribution Plan

We sponsor a defined contribution 401(k) retirement plan. Our discretionary contributions are in the form of cash and consist of a 50% match of each participant’s contribution up to 5% of the participant’s salary. For the years ended December 31, 2020 and 2019, we made discretionary employer contributions of $1.6 million and $1.0 million, respectively, to the 401(k) plan.

Employee Stock Purchase Plan

On May 15, 2019, our shareholders approved an amendment to and restatement of the ESPP to: (i) increase the shares authorized for issuance by 1.5 million shares and (ii) delegate to an internal administrator the authority to establish the maximum shares purchasable during a purchase period. As of December 31, 2020, 1.8 million shares were available for issuance under the ESPP. 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 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 its fair market value on (i) the first trading day of the purchase period or (ii) the last trading day of the purchase period. The ESPP currently has a purchase limit of 260 shares per employee per purchase period.

Long-Term Incentive Plan

We currently have one active long-term incentive plan, the 2005 Long-Term Incentive Plan, as amended and restated (the “2005 Incentive Plan”). The 2005 Incentive Plan is administered by the Compensation Committee of our Board. 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. Awards that have been granted to employees under the 2005 Incentive Plan have a vesting period of three years (or 33% per year) with the exception of PSUs, which vest 100% on the third anniversary date of the grant.

On May 15, 2019, our shareholders approved an amendment to and restatement of the 2005 Incentive Plan to: (i) authorize 7.0 million additional shares for issuance pursuant to our equity incentive compensation strategy, (ii) establish a maximum award limit applicable to independent members of our Board under the 2005 Incentive Plan, (iii) require, subject to certain exceptions, that all awards under the 2005 Incentive Plan have a minimum vesting or restriction period of one year and (iv) remove certain requirements with respect to performance-based compensation under Section 162(m) of the Internal Revenue Code that were repealed by the 2017 Tax Act. The 2005 Incentive Plan currently has 17.3 million shares authorized for issuance, which includes a maximum of 2.0 million shares that may be granted as incentive stock options. As of December 31, 2020, there were 6.8 million shares available for issuance under the 2005 Incentive Plan and no incentive stock options are currently outstanding.

The following grants of share-based awards were made in 2020 under the 2005 Incentive Plan:


Date of Grant	Shares/ Units	Grant Date Fair Value Per Share/Unit			Vesting Period

January 2, 2020 (1)	369,938		$	9.63	33% per year over three years
January 2, 2020 (2)	369,938		$	13.15	100% on January 2, 2023
January 2, 2020 (3)	5,679		$	9.63	100% on January 1, 2022
April 1, 2020 (3)	43,351		$	1.64	100% on January 1, 2022
July 1, 2020 (3)	19,407		$	3.47	100% on January 1, 2022
October 1, 2020 (3)	24,831		$	2.41	100% on January 1, 2022
December 10, 2020 (4)	204,546		$	4.40	100% on December 10, 2021

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

(2)Reflects grants of PSUs to our executive officers and select management employees. These awards when vested can only be settled in shares of our common stock.

(3)Reflects grants of restricted stock to certain independent members of our Board who have elected to take their quarterly fees in stock in lieu of cash.

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

In January 2021, we granted our executive officers 452,381 RSUs and 452,381 PSUs under the 2005 Incentive Plan. The grant date fair value of the RSUs was $4.20 per unit or $1.9 million. The grant date fair value of the PSUs was $5.33 per unit or $2.4 million. Also in January 2021, we granted $3.4 million of fixed value cash awards to select management employees under the 2005 Incentive Plan.

Restricted Stock Awards

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


	Year Ended December 31,
	2020			2019			2018
	Shares	Grant Date Fair Value (1)		Shares	Grant Date Fair Value (1)		Shares	Grant Date Fair Value (1)

Awards outstanding at beginning of year	1,173,045	$	6.81	1,320,989	$	7.40	1,579,218	$	7.63
Granted	667,752	7.06		846,835	6.02		614,286	7.46
Vested (2)	(631,498)	7.52		(993,361)	6.92		(823,310)	7.88
Forfeited	(32,348)	5.41		(1,418)	8.82		(49,205)	7.62
Awards outstanding at end of year	1,176,951	$	6.61	1,173,045	$	6.81	1,320,989	$	7.40

(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 that vested during the years ended December 31, 2020, 2019 and 2018 was $5.4 million, $6.5 million and $6.4 million, respectively.

For the years ended December 31, 2020, 2019 and 2018, $4.2 million, $6.2 million and $6.0 million, respectively, were recognized as share-based compensation related to restricted stock. Future compensation cost associated with unvested restricted stock at December 31, 2020 totaled approximately $4.4 million. The weighted average vesting period related to unvested restricted stock at December 31, 2020 was approximately 1.2 years.

Performance Share Unit Awards

We grant PSUs to our executive officers and from time to time select management employees. PSUs granted in 2020, 2019 and 2018 are to be settled solely in shares of our common stock and therefore are accounted for as equity awards. The payout at vesting of these PSUs is 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, with the maximum amount of the award being 200% of the original awarded PSUs and the minimum amount being zero.

The following table summarizes information about our equity PSU awards:


	Year Ended December 31,
	2020			2019			2018
	Units	Grant Date Fair Value (1)		Units	Grant Date Fair Value (1)		Units	Grant Date Fair Value (1)

Equity PSU awards outstanding at beginning of year	1,565,044	$	10.17	1,006,360	$	11.76	613,665	$	12.64
Granted	369,938	13.15		688,540	7.60		449,271	10.44
Vested	(589,335)	12.64		—	—		—	—
Forfeited	(48,521)	7.60		(129,856)	8.91		(56,576)	10.83
Equity PSU awards outstanding at end of year	1,297,126	$	9.99	1,565,044	$	10.17	1,006,360	$	11.76

(1)Represents the weighted average grant date fair value, which is determined using a Monte Carlo simulation model.

For the years ended December 31, 2020, 2019 and 2018, $4.0 million, $5.1 million and $3.8 million, respectively, were recognized as share-based compensation related to equity PSU awards. Future compensation cost associated with unvested equity PSU awards at December 31, 2020 totaled approximately $4.6 million. The weighted average vesting period related to unvested equity PSU awards at December 31, 2020 was approximately 1.0 year. In January 2021, 368,038 equity PSU awards granted in 2018 vested at 200%, representing 736,075 shares of our common stock with a total market value of $3.1 million. In January 2020, 589,335 equity PSU awards granted in 2017 vested at 200%, representing 1,178,670 shares of our common stock with a total market value of $11.4 million.

For the year ended December 31, 2018, $0.9 million were recognized as share-based compensation related to liability PSU awards. During 2019 and 2018, we cash settled liabilities of $11.1 million and $0.9 million, respectively, related to PSU awards granted in 2016 and 2015, respectively.

Cash Awards

In 2020, 2019 and 2018, we granted $4.7 million, $4.6 million and $5.2 million, respectively, of fixed value cash awards to select management employees under the 2005 Incentive Plan. The value of these cash awards is recognized on a straight-line basis over a vesting period of three years. For the years ended December 31, 2020, 2019 and 2018, we recognized compensation costs of $4.4 million and $3.2 million and $1.7 million, respectively, which reflected the cash payouts made in January 2021, 2020 and 2019, respectively.

Business Segment Information

12 Months Ended

Dec. 31, 2020

Segment Reporting [Abstract]

Business Segment Information

Note 15 — 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 segment for financial reporting purposes. Our Well Intervention segment includes our vessels and/or equipment used to access offshore wells for the purpose of performing well enhancement or decommissioning operations primarily in the Gulf of Mexico, Brazil, the North Sea and West Africa. Our well intervention vessels include the Q4000, the Q5000, the Q7000, the Seawell, the Well Enhancer, and the Siem Helix 1 and Siem Helix 2 chartered vessels. Our well intervention equipment includes IRSs, SILs and the ROAM, some of which we provide on a stand-alone basis. Our Robotics segment includes ROVs, trenchers and a ROVDrill, which are designed to complement well intervention services and offshore construction to both the oil and gas and the renewable energy markets globally. Our Robotics segment also includes two robotics support vessels under long-term charter, the Grand Canyon II and the Grand Canyon III, as well as spot vessels as needed. Our Production Facilities segment includes the HP I, the HFRS and our ownership of oil and gas properties (Note 16). All material intercompany transactions between the segments have been eliminated.

We evaluate our performance based on operating income of each reportable segment. Certain financial data by reportable segment are summarized as follows (in thousands):


	Year Ended December 31,
	2020		2019		2018
Net revenues —
Well Intervention	$	539,249	$	593,300	$	560,568
Robotics	178,018		171,672		158,989
Production Facilities	58,303		61,210		64,400
Intercompany eliminations	(42,015)		(74,273)		(44,139)
Total	$	733,555	$	751,909	$	739,818





Income (loss) from operations —
Well Intervention	$	26,855	$	89,564	$	87,643
Robotics	13,755		7,261		(14,054)
Production Facilities	15,975		17,160		27,263
Segment operating income	56,585		113,985		100,852
Goodwill impairment (1)	(6,689)		—		—
Corporate, eliminations and other	(36,871)		(45,988)		(49,309)
Total	13,025		67,997		51,543
Net interest expense	(28,531)		(8,333)		(13,751)
Other non-operating income (expense), net	16,889		5,892		(6,794)
Income before income taxes	$	1,383	$	65,556	$	30,998





Capital expenditures —
Well Intervention	$	19,523	$	139,212	$	136,164
Robotics	257		417		151
Production Facilities	—		123		325
Corporate and other	464		1,102		443
Total	$	20,244	$	140,854	$	137,083


Depreciation and amortization —
Well Intervention	$	101,756	$	80,153	$	76,943
Robotics	15,952		16,459		19,175
Production Facilities	15,652		15,658		14,070
Corporate and eliminations	349		450		334
Total	$	133,709	$	112,720	$	110,522

(1)Relates to the impairment of the entire STL goodwill balance (Note 7).

Intercompany segment amounts are derived primarily from equipment and services provided to other business segments. Intercompany segment revenues are as follows (in thousands):


	Year Ended December 31,
	2020		2019		2018

Well Intervention (1)	$	15,039	$	43,484	$	14,218
Robotics	26,976		30,789		29,921
Total	$	42,015	$	74,273	$	44,139

(1)Amount in the year ended December 31, 2019 included $27.5 million associated with the P&A work on our oil and gas properties in our Production Facilities segment (Note 16).

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


	Year Ended December 31,
	2020		2019		2018

U.S.	$	304,563	$	297,162	$	271,260
U.K.	133,005		193,903		194,434
Brazil	208,565		216,796		208,054
Other	87,422		44,048		66,070
Total	$	733,555	$	751,909	$	739,818

Our operational assets work in various regions around the world such as the Gulf of Mexico, Brazil, the North Sea, Asia Pacific and West Africa. The following table provides our property and equipment, net of accumulated depreciation, by individually significant geographic location (in thousands):


	December 31,
	2020		2019

U.S.	$	750,986	$	808,683
U.K. (1)	764,070		782,246
Brazil	267,896		281,698
Singapore	12		10

Total	$	1,782,964	$	1,872,637

(1)Includes certain assets that are based in the U.K. but may operate in the North Sea, West Africa and other regions, including the Q7000.

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


	December 31,
	2020		2019

Well Intervention	$	2,134,081	$	2,180,180
Robotics	132,550		151,478
Production Facilities	129,773		142,624
Corporate and other	101,874		122,449
Total	$	2,498,278	$	2,596,731

- 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

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Section 50
-Paragraph 31
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-Name Accounting Standards Codification
-Topic 280
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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+ Details

Asset Retirement Obligations

12 Months Ended

Dec. 31, 2020

Asset Retirement Obligation Disclosure [Abstract]

Asset Retirement Obligations

Note 16 — Asset Retirement Obligations

The following table describes the changes in our AROs (both current and long-term) for the years ended December 31, 2020 and 2019 (in thousands):


	2020		2019

AROs at January 1,	$	28,258	$	—
Liability incurred during the period	—		53,294
Liability settled during the period	—		(28,296)
Revisions in estimated cash flows	—		822
Accretion expense	2,655		2,438
AROs at December 31,	$	30,913	$	28,258

Our AROs relate to our Droshky oil and gas properties that we acquired from Marathon Oil Corporation (“Marathon Oil”) in January 2019. In connection with assuming the P&A of those assets, we are entitled to receive agreed-upon amounts from Marathon Oil as the P&A work is completed.

Commitments And Contingencies And Other Matters	12 Months Ended
Commitments And Contingencies And Other Matters	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments And Contingencies And Other Matters	Note 17 — Commitments and Contingencies and Other Matters Commitments We have long-term charter agreements with Siem Offshore AS (“Siem”) for the Siem Helix 1 and Siem Helix 2 vessels, which are currently used in connection with our contracts with Petrobras to perform well intervention work offshore Brazil. The initial term of the charter agreements with Siem is for seven years, with options to extend. The Siem Helix 1 charter expires June 2023 and the Siem Helix 2 charter expires February 2024. We have time charter agreements for the Grand Canyon II and Grand Canyon III vessels for use in our robotics operations. The expiration date of the Grand Canyon II charter was extended in February 2021 from April 2021 until December 2021, with an option to renew. The Grand Canyon III charter expires May 2023. We took delivery of the Q7000 in November 2019, and the vessel commenced operations in January 2020. With the delivery of the Q7000, all of our planned major capital commitments have been completed. 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. Litigation We are involved in various legal proceedings, some involving claims for personal injury under the General Maritime Laws of the United States and the Jones Act. In addition, from time to time we receive other claims, such as contract and employment-related disputes, in the normal course of business.

Statement Of Cash Flow Information

12 Months Ended

Dec. 31, 2020

Supplemental Cash Flow Information [Abstract]

Statement Of Cash Flow Information

Note 18 — Statement of Cash Flow Information

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


	Year Ended December 31,
	2020		2019		2018

Interest paid, net of interest capitalized	$	15,943	$	1,909	$	7,369
Income taxes paid	7,434		8,856		5,705

Our capital additions include the acquisition of property and equipment for which payment has not been made. As of December 31, 2020 and 2019, these non-cash capital additions totaled $1.6 million and $10.2 million, respectively.

Allowance Accounts

12 Months Ended

Dec. 31, 2020

SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]

Allowance Accounts

Note 19 — 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, 2020 (in thousands):


	Allowance for Credit Losses		Deferred Tax Asset Valuation Allowance

Balance at December 31, 2017	$	2,752	$	12,337

Deductions (1)	(2,752)		—
Adjustments (2)	—		5,603
Balance at December 31, 2018	—		17,940


Adjustments (2)	—		691
Balance at December 31, 2019	—		18,631
Additions (3)	2,684		—

Adjustments (2) (4)	785		1,091
Balance at December 31, 2020	$	3,469	$	19,722

(1)The decrease in allowance for credit losses reflects the write-offs of accounts receivable that are either settled or deemed uncollectible

(2)The increase in valuation allowance primarily reflects additional net operating losses in our Robotics segment in the U.K. for which insufficient future taxable income exists to offset the losses.

(3)The additions in allowance for credit losses reflect credit loss reserves during 2020.

(4)The adjustment in allowance for credit losses reflects provision for current expected credit losses upon the adoption of ASU No. 2016-13 on January 1, 2020.

See Note 2 for a detailed discussion regarding our accounting policy on accounts receivable and allowance for credit losses as well as the adoption of ASU No. 2016-13. See Note 9 for a detailed discussion of the valuation allowance related to our deferred tax assets.

Fair Value Measurements

12 Months Ended

Dec. 31, 2020

Fair Value Disclosures [Abstract]

Fair Value Measurements

Note 20 — Fair Value Measurements

Assets and liabilities measured at fair value are based on one or more of three valuation approaches 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, receivables, accounts payable, long-term debt and derivative instruments. The carrying amount of cash and cash equivalents, trade and other current receivables as well as accounts payable approximates fair value due to the short-term nature of these instruments. The fair value of our derivative instruments (Note 21) 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. The fair value of our interest rate swaps is calculated as the discounted cash flows of the difference between the rate fixed by the hedging instrument and the LIBOR forward curve over the remaining term of the hedging 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 hedging instrument and the expected cash inflow of the forecasted transaction using a foreign currency forward curve. These modeling techniques require us to make estimations of future prices, price correlation, volatility and liquidity based on market data. As of December 31, 2020, there were no financial instruments measured at fair value on a recurring basis. The following table provides additional information relating to those financial instruments measured at fair value on a recurring basis as of December 31, 2019 (in thousands):


	Fair Value at December 31, 2019								Valuation Approach
	Level 1		Level 2		Level 3		Total
Assets:
Interest rate swaps	$	—	$	44	$	—	$	44	(c)

Liabilities:
Foreign exchange contracts — hedging instruments	—		401		—		401		(c)
Foreign exchange contracts — non-hedging instruments	—		601		—		601		(c)
Total net liability	$	—	$	958	$	—	$	958

The principal amount and estimated fair value of our long-term debt are as follows (in thousands):


	December 31,
	2020				2019
	Principal Amount (1)		Fair Value (2) (3)		Principal Amount (1)		Fair Value (2) (3)


Term Loan (matures December 2021)	$	29,750	$	28,969	$	33,250	$	32,959
Nordea Q5000 Loan (matures January 2021) (4)	53,572		53,598		89,286		89,398
MARAD Debt (matures February 2027)	56,410		62,318		63,610		68,643
2022 Notes (mature May 2022)	35,000		33,513		125,000		134,225
2023 Notes (mature September 2023)	30,000		28,650		125,000		162,188
2026 Notes (mature February 2026)	200,000		211,383		—		—
Total debt	$	404,732	$	418,431	$	436,146	$	487,413

(1)Principal amount includes current maturities and excludes the related unamortized debt discount and debt issuance costs. See Note 8 for additional disclosures on our long-term debt.

(2)The estimated fair value of the 2022 Notes, the 2023 Notes and the 2026 Notes was determined using Level 1 fair value inputs under the market approach. The fair value of the term loans, the Nordea Q5000 Loan and the MARAD Debt was estimated using Level 2 fair value inputs under the market approach, which 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.

(3)The principal amount and estimated fair value of the 2022 Notes, the 2023 Notes and the 2026 Notes are for the entire instrument inclusive of the conversion feature reported in shareholders’ equity.

(4)The maturity date of the Nordea Q5000 Loan was extended from April 2020 to January 2021 as a result of an amendment to the Nordea Credit Agreement in March 2020. We repaid the Nordea Q5000 Loan in January 2021. (Note 8).

- 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, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Instruments And Hedging Activities

Note 21 — Derivative Instruments and Hedging Activities

In June 2015, we entered into interest rate swap contracts to fix the interest rate on $187.5 million of the Nordea Q5000 Loan (Note 8). These swap contracts expired in April 2020. Our interest rate swap contracts qualified for cash flow hedge accounting treatment.

In February 2013, we entered into foreign currency exchange contracts to hedge our foreign currency exposure associated with the Grand Canyon II and Grand Canyon III charter payments denominated in the Norwegian kroner through July 2019 and February 2020, respectively. A portion of our foreign currency exchange contracts qualified for hedge accounting treatment.

We had no derivative instruments that were designated as hedging instruments as of December 31, 2020. The following table presents the balance sheet location and fair value of our derivative instruments that were designated as hedging instruments as of December 31, 2019 (in thousands):


	December 31,
	2019
	Balance Sheet Location	Fair Value
Asset Derivative Instruments:
Interest rate swaps	Other current assets	$	44

		$	44

Liability Derivative Instruments:
Foreign exchange contracts	Accrued liabilities	$	401



		$	401

We had no derivative instruments that were not designated as hedging instruments as of December 31, 2020. The following table presents the balance sheet location and fair value of our derivative instruments that were not designated as hedging instruments as of December 31, 2019 (in thousands):


	December 31,
	2019
	Balance Sheet Location	Fair Value
Liability Derivative Instruments:
Foreign exchange contracts	Accrued liabilities	$	601

		$	601

The following tables present the impact that derivative instruments designated as hedging instruments had on our accumulated OCI (net of tax) and our consolidated statements of operations (in thousands):


	Unrealized Gain (Loss) Recognized in OCI
	Year Ended December 31,
	2020		2019		2018

Foreign exchange contracts	$	(54)	$	(315)	$	(1,453)
Interest rate swaps	(41)		(365)		606
	$	(95)	$	(680)	$	(847)


	Location of Gain (Loss) Reclassified from Accumulated OCI into Earnings	Gain (Loss) Reclassified from Accumulated OCI into Earnings
		Year Ended December 31,
		2020		2019		2018

Foreign exchange contracts	Cost of sales	$	(455)	$	(6,125)	$	(7,709)
Interest rate swaps	Net interest expense	3		655		508
		$	(452)	$	(5,470)	$	(7,201)

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


	Location of Loss Recognized in Earnings	Loss Recognized in Earnings
		Year Ended December 31,
		2020		2019		2018

Foreign exchange contracts	Other income (expense), net	$	(81)	$	(378)	$	(901)
		$	(81)	$	(378)	$	(901)

Quarterly Financial Information (Unaudited)

12 Months Ended

Dec. 31, 2020

Quarterly Financial Information Disclosure [Abstract]

Quarterly Financial Information (Unaudited)

Note 22 — Quarterly Financial Information (Unaudited)

In addition to being affected by the timing of oil and gas company expenditures, offshore marine construction activities may fluctuate as a result of weather conditions. Historically, a substantial portion of our services has been performed during the summer and fall months. As a result, a disproportionate portion of our revenues and net income is earned during such periods. 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,
2020
Net revenues	$	181,021	$	199,147	$	193,490	$	159,897
Gross profit	2,010		29,576		34,628		13,695
Net income (loss)	(13,928)		5,450		24,445		4,117
Net income (loss) attributable to common shareholders	(11,938)		5,450		24,499		4,163
Basic earnings (loss) per common share	$	(0.09)	$	0.04	$	0.16	$	0.03
Diluted earnings (loss) per common share	$	(0.09)	$	0.04	$	0.16	$	0.03





2019
Net revenues	$	166,823	$	201,728	$	212,609	$	170,749
Gross profit	16,254		39,934		55,074		26,576
Net income	1,318		16,823		31,622		7,934
Net income attributable to common shareholders	1,318		16,854		31,695		8,052
Basic earnings per common share	$	0.01	$	0.11	$	0.21	$	0.05
Diluted earnings per common share	$	0.01	$	0.11	$	0.21	$	0.05

Summary Of Significant Accounting Policies (Policy)	12 Months Ended
Summary Of Significant Accounting Policies (Policy)	Dec. 31, 2020
Accounting Policies [Abstract]
Principles of Consolidation	Principles of Consolidation Our consolidated financial statements include the accounts of our 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. All material intercompany accounts and transactions have been eliminated.
Basis of Presentation	Basis of Presentation Our consolidated financial statements have been prepared in conformity with U.S. generally accepted accounting principles (“GAAP”) in U.S. dollars. 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 that we believe are necessary for a fair presentation of our consolidated financial statements.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with 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 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.
Restricted Cash	Restricted Cash We classify cash as restricted when there are legal or contractual restrictions for its withdrawal. We had no restricted cash as of December 31, 2020. As of December 31, 2019, we had restricted cash of $54.1 million, which served as collateral for a letter of credit and was restricted for less than one year. In January 2021, we reclassified $73.4 million to restricted cash, which serves as collateral for a letter of credit for a temporary importation permit for work offshore Nigeria that is expected to be less than one year.
Accounts Receivable and Allowance for Credit Losses	Accounts Receivable and Allowance for Credit Losses Accounts receivable are recognized when our right to consideration becomes unconditional. Accounts receivable are stated at the historical carrying amount, net of write-offs and allowance for credit losses. We estimate current expected credit losses on our accounts receivable at each reporting date. We estimate current expected credit losses based on our credit loss history, adjusted for current factors including global economic and business conditions, offshore energy industry and market conditions, customer mix, contract payment terms and past due accounts receivable. 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 not be collected (Note 19).
Property and Equipment	Property and Equipment Property and equipment is recorded at historical cost, net of accumulated depreciation. Property and equipment is depreciated on a straight-line basis over its estimated useful life. The cost of improvements is capitalized whereas the cost of repairs and maintenance is expensed as incurred. Assets used in operations are assessed for impairment whenever events or changes in 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 expected undiscounted cash flows. If the carrying amount of the asset or asset group is not recoverable and is greater than its fair value, an impairment charge 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 evaluated for impairment 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 revenues and costs, project margins and capital project spending, considering all available information at the date of review.
Capitalized Interest	Capitalized Interest Interest from external borrowings is capitalized on major projects under development 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. Capitalized interest is excluded from our interest expense (Note 8) and is included as an investing cash outflow in the consolidated statements of cash flows.
Equity Investment	Equity Investment With respect to our investment accounted for using the equity method of accounting, losses in excess of the carrying amount of our equity investment are recognized when (i) we guaranteed the 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. Losses in excess of the carrying amount of our equity investment are presented as a liability in the consolidated balance sheets.
Leases	Leases Leases with a term greater than one year are recognized in the consolidated balance sheet as right-of-use (“ROU”) assets and lease liabilities. We have not recognized in the consolidated balance sheet leases with an initial term of one year or less. Lease liabilities and their corresponding ROU assets are recorded at the commencement date based on the present value of lease payments over the expected lease term. The lease term may include the option to extend or terminate the lease when it is reasonably certain that we will exercise the option. We use our incremental borrowing rate, which would be the rate incurred to borrow on a collateralized basis over a similar term in a similar economic environment, to calculate the present value of lease payments. ROU assets are adjusted for any initial direct costs paid or incentives received. We separate our long-term vessel charters between their lease components and non-lease services. We estimate the lease component using the residual approach by estimating the non-lease services, which primarily include crew, repair and maintenance, and regulatory certification costs. For all other leases, we have not separated the lease components and non-lease services. We recognize operating lease cost on a straight-line basis over the lease term for both (i) leases that are recognized in the consolidated balance sheet and (ii) short-term leases. We recognize lease cost related to variable lease payments that are not recognized in the consolidated balance sheet in the period in which the obligation is incurred.
Goodwill	Goodwill Goodwill impairment is evaluated using a two-step process. The first step involves comparing a reporting unit’s fair value with its carrying amount. We have the option to assess qualitative factors to determine if it is necessary to perform the first step. If it is more likely than not that a reporting unit’s fair value is less than its carrying amount, we must perform the quantitative goodwill impairment test, which involves estimating the reporting unit’s fair value and comparing it to its carrying amount. If the reporting unit’s carrying amount exceeds its fair value, impairment loss is recognized in an amount equal to that excess, but not to exceed the goodwill’s carrying amount. We perform an impairment analysis of goodwill at least annually as of November 1 or more frequently whenever events or circumstances occur indicating that goodwill might be impaired. Our goodwill balance attributable to the acquisition of a controlling interest in Subsea Technologies Group Limited (“STL”) was fully impaired during 2020, and we had no goodwill in the accompanying consolidated balance sheet at December 31, 2020 (Note 7).
Deferred Recertification and Dry Dock Costs	Deferred Recertification and Dry Dock Costs Our vessels and certain well intervention equipment are required by regulation to be periodically recertified. Recertification costs for a vessel are typically incurred while the vessel is in dry dock. We defer and amortize recertification costs, including vessel dry dock costs, over the period that the certification applies, which generally ranges from 30 to 60 months if the appropriate permitting is obtained. A recertification process, including vessel dry dock, typically lasts between one to three months, a period during which a vessel or a piece of equipment is idle and generally not available to earn revenue. Major replacements and improvements that extend the economic useful life or functional operating capability of a vessel or a piece of equipment are capitalized and depreciated over the asset’s remaining economic useful life. We expense routine repairs and maintenance costs as they are incurred. As of December 31, 2020 and 2019, deferred recertification and dry dock costs, which were included within “Other assets, net” in the accompanying consolidated balance sheets (Note 3), totaled $21.5 million and $16.1 million (net of accumulated amortization of $21.8 million and $15.7 million), respectively. During the years ended December 31, 2020, 2019 and 2018, amortization expense related to deferred recertification and dry dock costs was $14.3 million, $12.4 million and $8.3 million, respectively.
Revenue Recognition	Revenue Recognition Revenue from Contracts with Customers We generate revenue in our Well Intervention segment by supplying vessels, personnel and equipment to provide well intervention services, which involve providing marine access, serving as a deployment mechanism to the subsea well, connecting to and maintaining a secure connection to the subsea well and maintaining well control through the duration of the intervention services. We may also perform down-hole intervention work and provide certain engineering services. We generate revenue in our Robotics segment by operating ROVs, trenchers and a ROVDrill to provide subsea construction, inspection, repair and maintenance services to oil and gas companies as well as subsea trenching and burial of pipelines and cables as well as seabed clearing for the oil and gas and the renewable energy markets. We also provide integrated robotic services by supplying vessels that deploy ROVs and trenchers. Our Production Facilities segment generates revenue by supplying vessels, personnel and equipment for oil and natural gas processing, well control response services, and oil and gas production from owned properties. Our revenues are derived from short-term and long-term service contracts with customers. Our service contracts generally contain either provisions for specific time, material and equipment charges that are billed in accordance with the terms of such contracts (dayrate contracts) or lump sum payment provisions (lump sum contracts). We record revenues net of taxes collected from customers and remitted to governmental authorities. Contracts are classified as long-term if all or part of the contract is to be performed over a period extending beyond 12 months from the effective date of the contract. Long-term contracts may include multi-year agreements whereby the commitment for services in any one year may be short in duration. We generally account for our services under contracts with customers as a single performance obligation satisfied over time. The single performance obligation in our dayrate contracts is comprised of a series of distinct time increments in which we provide services. We do not account for activities that are immaterial or not distinct within the context of our contracts as separate performance obligations. Consideration received under a contract is allocated to the single performance obligation on a systematic basis that depicts the pattern of the provision of our services to the customer. The total transaction price for a contract is determined by estimating both fixed and variable consideration expected to be earned over the term of the contract. We generally do not provide significant financing to our customers and do not adjust contract consideration for the time value of money if extended payment terms are granted for less than one year. Estimated variable consideration, if any, is considered to be constrained and therefore is not included in the transaction price until it is probable that a significant reversal in the amount of cumulative revenue recognized will not occur. At the end of each reporting period, we reassess and update our estimates of variable consideration and amounts of that variable consideration that should be constrained. Dayrate Contracts. Revenues generated from dayrate contracts generally provide for payment according to the rates per day as stipulated in the contract (e.g., operating rate, standby rate, and repair rate). Invoices billed to the customer are typically based on the varying rates applicable to operating status on an hourly basis. Dayrate consideration is allocated to the distinct hourly time increment to which it relates and is therefore recognized in line with the contractual rate billed for the services provided for any given hour. Similarly, revenues from contracts that stipulate a monthly rate are recognized ratably during the month. Dayrate contracts also may contain fees charged to the customer for mobilizing and/or demobilizing equipment and personnel. Mobilization and demobilization are considered contract fulfillment activities, and related fees (subject to any constraint on estimates of variable consideration) are allocated to the single performance obligation and recognized ratably over the term of the contract. Mobilization fees are generally billable to the customer in the initial phase of a contract and generate contract liabilities until they are recognized as revenue. Demobilization fees are generally received at the end of the contract and generate contract assets when they are recognized as revenue prior to becoming receivables from the customer. We receive reimbursements from our customers for the purchase of supplies, equipment, personnel services and other services provided at their request. Reimbursable revenues are variable and subject to uncertainty as the amounts received and timing thereof are dependent on factors outside of our influence. Accordingly, these revenues are constrained and not recognized until the related costs are incurred on behalf of the customer. We are generally considered a principal in these transactions and record the associated revenues at the gross amounts billed to the customer. A dayrate contract modification involving an extension of the contract by adding days of services is generally accounted for prospectively as a separate contract, but may be accounted for as a termination of the existing contract and creation of a new contract if the consideration for the extended services does not represent their stand-alone selling prices. Lump Sum Contracts. Revenues generated from lump sum contracts are recognized over time. Revenue is recognized based on the extent of progress towards completion of the performance obligation. We generally use the cost-to-cost measure of progress for our lump sum contracts because it best depicts the progress toward satisfaction of our performance obligation, which occurs as we incur costs under those contracts. Under the cost-to-cost measure of progress, the extent of progress towards completion is measured based on the ratio of cumulative costs incurred to date to the total estimated costs at completion of the performance obligation. Consideration, including lump sum mobilization and demobilization fees billed to the customer, is recorded proportionally as revenue in accordance with the cost-to-cost measure of progress. Consideration for lump sum contracts is generally due from the customer based on the achievement of milestones. As such, contract assets are generated to the extent we recognize revenues in advance of our rights to collect contract consideration and contract liabilities are generated when contract consideration due or received is greater than revenues recognized to date. We review and update our contract-related estimates regularly and recognize adjustments in estimated profit on contracts under the cumulative catch-up method. Under this method, the impact of the adjustment on profit recorded to date on a contract is recognized in the period in which the adjustment is identified. Revenue and profit in future periods of contract performance are recognized using the adjusted estimate. If a current estimate of total contract costs to be incurred exceeds the estimate of total revenues to be earned, we recognize the projected loss in full when it is identified. A modification to a lump sum contract is generally accounted for as part of the existing contract and recognized as an adjustment to revenue on a cumulative catch-up basis. Income from Oil and Gas Production Income from oil and gas production is recognized according to monthly oil and gas production volumes from the oil and gas properties that we own, and is included in revenues from our Production Facilities segment. Income from Royalty Interests Income from royalty interests is recognized according to our share of monthly oil and gas production volumes and is reflected in “Royalty income and other” in the consolidated statements of operations.
Income Taxes	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. We provide for uncertain tax positions and 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 local taxing authorities. At December 31, 2020, 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 has been recognized or are required to pay amounts in excess of the liability, our effective tax rate in a given financial statement period may be affected.
Share-Based Compensation	Share-Based Compensation Share-based compensation is measured at the grant date based on the estimated fair value of an award. Share-based compensation based solely on service conditions is recognized on a straight-line basis over the vesting period of the related shares. Forfeitures are recognized as they occur. Compensation cost for restricted stock is the product of the grant date fair value of each share and the number of shares granted and is recognized over the applicable vesting period on a straight-line basis. Compensation cost for our performance share unit (“PSU”) awards, which have a service condition and a market condition and are accounted for as equity awards, is measured based on the grant date estimated fair value and recognized over the vesting period on a straight-line basis. PSUs that are accounted for as liability awards are measured at their estimated fair value at each balance sheet date, and subsequent changes in fair value of the awards are recognized in earnings for the portion of the award for which the requisite service period has elapsed. Cumulative compensation cost for vested liability PSU awards equals the actual payout value upon vesting.
Asset Retirement Obligations	Asset Retirement Obligations Asset retirement obligations (“AROs”) are recorded at fair value and consist of estimated costs for subsea infrastructure plug and abandonment (“P&A”) activities associated with our oil and gas properties. The estimated costs are discounted to present value using a credit-adjusted risk-free discount rate. After its initial recognition, an ARO liability is increased for the passage of time as accretion expense, which is a component of our depreciation and amortization expense. An ARO liability may also change based on revisions in estimated costs and/or timing to settle the obligations.
Foreign Currency	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. Results of operations for our non-U.S. dollar subsidiaries are translated into U.S. dollars using average exchange rates during the period. Assets and liabilities of these non-U.S. dollar subsidiaries are translated into U.S. dollars using the exchange rate in effect, and the resulting translation adjustments are included in other comprehensive income (loss) (“OCI”). For transactions denominated in a currency other than a subsidiary’s functional currency, the effects of changes in exchange rates are reported in other income or expense in the consolidated statements of operations. For the years ended December 31, 2020, 2019 and 2018, our foreign currency transaction gains (losses) totaled $4.6 million, $1.5 million and $(4.3) million, respectively. These realized amounts are exclusive of any gains or losses from our foreign currency exchange derivative contracts.
Derivative Instruments and Hedging Activities	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 mitigate 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 derivative contracts, including interest rate swaps and foreign currency exchange contracts. Interest rate and foreign currency derivative instruments are reflected in the consolidated balance sheets at fair value. The capped call transactions (the “2026 Capped Calls”) we entered into in connection with the issuance of Convertible Senior Notes Due 2026 are recorded in shareholders’ equity and are not accounted for as derivatives (Note 8). We engage solely in cash flow hedges. Cash flow hedges are entered into to hedge the variability of cash flows related to a forecasted transaction or to be received or paid related to a recognized asset or liability. Changes in the fair value of derivative instruments that are designated as cash flow hedges are reported in OCI. These changes are subsequently reclassified into earnings when the hedged transactions affect earnings. Changes in the fair value of interest rate and foreign currency derivative instruments that do not qualify for hedge accounting are recorded in earnings. 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 ongoing basis, whether the derivative instruments that are designated as hedging instruments 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 if 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, gains or losses on the hedging instruments are reclassified from accumulated OCI into earnings immediately.
Earnings Per Share	Earnings Per Share Basic earnings per share (“EPS”) is computed by dividing net income or loss attributable to common shareholders by the weighted average shares of our common stock outstanding. The calculation of diluted EPS is similar to that for basic EPS, except that the denominator includes dilutive common stock equivalents and the numerator excludes the effects of dilutive common stock equivalents, if any. We have shares of restricted stock issued and outstanding that are currently unvested. Because holders of shares of unvested restricted stock are entitled to the same liquidation and dividend rights as the holders of our unrestricted common stock, we are required to compute basic and diluted EPS under the two-class method in periods in which we have earnings. Under the two-class method, the undistributed earnings available to common shareholders for each period are allocated based on the participation rights of both common shareholders and the holders of any participating securities as if earnings for the respective periods had been distributed. 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 obligated to share in such losses.
Major Customers and Concentration of Credit Risk	Major Customers and Concentration of Risk We offer our products and services primarily in the offshore oil and gas and renewable markets. 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 and volatility, which are subject to many external factors. Our customers consist primarily of major and independent oil and gas producers and suppliers, pipeline transmission companies, renewable energy companies and offshore engineering and construction firms. We perform ongoing credit evaluations of our customers and provide allowances for credit losses. The percentages of consolidated revenue from major customers (those representing 10% or more of our consolidated revenues) are as follows: 2020 — Petrobras (28%) and BP (17%); 2019 — Petrobras (29%), BP (15%) and Shell (13%); and 2018 — Petrobras (28%) and BP (15%). Most of the concentration of revenues are in our Well Intervention segment.
Fair Value Measurements	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 approaches as described in Note 20.
New Accounting Standards	New Accounting Standards New accounting standards adopted In February 2016, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) No. 2016-02, “Leases (Topic 842)” (“ASC 842”), which was updated by subsequent amendments. ASC 842 requires a lessee to recognize a lease ROU asset and related lease liability for most leases, including those classified as operating leases. ASC 842 also changes the definition of a lease and requires expanded quantitative and qualitative disclosures for both lessees and lessors. We adopted ASC 842 as of January 1, 2019 using the modified retrospective method. We also elected the package of practical expedients permitted under the transition guidance that, among other things, allows companies to carry forward their historical lease classification. Our adoption of ASC 842 resulted in the recognition of operating lease liabilities of $259.0 million and corresponding ROU assets of $253.4 million (net of existing prepaid/deferred rent balances) as of January 1, 2019. In addition, we reclassified the remaining deferred gain of $4.6 million (net of deferred taxes of $0.9 million) on a 2016 sale and leaseback transaction to retained earnings. Subsequent to adoption, leases in foreign currencies will generate foreign currency gains and losses, and we will no longer amortize the deferred gain from the aforementioned sale and leaseback transaction. Aside from these changes, ASC 842 has not had, and is not expected to have, a material impact on our net earnings or cash flows. See Note 6 for additional information regarding our leases. In June 2016, the FASB issued ASU No. 2016-13, “Measurement of Credit Losses on Financial Instruments,” which was updated by subsequent amendments. This ASU replaces the current incurred loss model for measurement of credit losses on financial assets (including trade receivables) with a forward-looking expected loss model based on historical experience, current conditions, and reasonable and supportable forecasts. Upon adoption of ASU No. 2016-13 on January 1, 2020, we recognized $0.6 million (net of deferred taxes of $0.2 million) related to the provision for current expected credit losses on our accounts receivable through a cumulative effect offset to retained earnings. The credit loss standard also resulted in the recognition of an additional $0.7 million in credit loss reserves on our accounts receivable for the year ended December 31, 2020. See Note 19 for additional information regarding allowance for credit losses on our accounts receivable. New accounting standards issued but not yet effective In August 2020, the FASB issued ASU No. 2020-06, “Accounting for Convertible Instruments and Contracts in an Entity's Own Equity,” which simplifies the accounting for certain financial instruments with characteristics of liabilities and equity, including convertible instruments and contracts in an entity’s own equity. Among other changes, this ASU removes from GAAP the requirement to separate certain convertible instruments, such as our Convertible Senior Notes Due 2022, Convertible Senior Notes Due 2023 and Convertible Senior Notes Due 2026 (Note 8), into liability and equity components. Consequently, those convertible instruments will be accounted for in their entirety as liabilities measured at their amortized cost. We have elected to early adopt ASU No. 2020-06 on a modified retrospective basis as of January 1, 2021. The adoption of this ASU will increase our long-term debt and decrease common stock by approximately $44.1 million and $41.5 million, respectively, as we reclassify the conversion features associated with our various outstanding convertible senior notes from equity to long-term debt. The adoption of this ASU will also increase our retained earnings and decrease deferred tax liabilities by approximately $6.7 million and $9.3 million, respectively. The embedded conversion feature will no longer be amortized into income as interest expense over the life of the instrument. Subsequent to its adoption, the ASU is also expected to reduce our interest expense as there will no longer be debt discounts associated with our outstanding convertible senior notes. Additionally, the ASU no longer permits the treasury stock method for convertible instruments and instead requires the application of the if-converted method to calculate the impact of our convertible senior notes on diluted EPS. 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, 2020

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of other current assets

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


	December 31,
	2020		2019

Contract assets (Note 12)	$	2,446	$	740
Prepaids	15,904		12,635
Deferred costs (Note 12)	23,522		28,340
Income tax receivable (Note 9)	20,787		1,261
Other receivable (Note 16)	29,782		—
Other	9,651		7,474
Total other current assets	$	102,092	$	50,450

Schedule of other assets, net

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


	December 31,
	2020		2019


Deferred recertification and dry dock costs, net (Note 2)	$	21,464	$	16,065
Deferred costs (Note 12)	861		14,531
Charter deposit (1)	12,544		12,544
Other receivable (Note 16)	—		27,264
Goodwill (Note 7)	—		7,157
Intangible assets with finite lives, net (Note 2)	3,809		3,847
Other	1,335		3,100
Total other assets, net	$	40,013	$	84,508

(1)This amount is deposited with the owner of the Siem Helix 2 to offset certain payment obligations associated with the vessel at the end of the charter term.

Schedule of accrued liabilities

Accrued liabilities consist of the following (in thousands):


	December 31,
	2020		2019

Accrued payroll and related benefits	$	24,768	$	31,417
Accrued interest	7,098		3,942
Investee losses in excess of investment (Note 5)	1,499		4,069
Deferred revenue (Note 12)	8,140		11,568
AROs (Note 16)	30,913		—

Other	14,617		11,393
Total accrued liabilities	$	87,035	$	62,389

Schedule of other non-current liabilities

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


	December 31,
	2020		2019



Deferred revenue (Note 12)	$	1,869	$	8,286
AROs (Note 16)	—		28,258

Other	2,009		2,100
Total other non-current liabilities	$	3,878	$	38,644

Property And Equipment (Tables)

12 Months Ended

Dec. 31, 2020

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	2020		2019

Vessels	15 to 30 years	$	2,349,752	$	2,323,314
ROVs, trenchers and ROVDrill	10 years	263,968		270,004
Machinery, equipment and leasehold improvements	5 to 15 years	335,187		328,956
Total property and equipment		$	2,948,907	$	2,922,274

Leases (Tables)

12 Months Ended

Dec. 31, 2020

Leases [Abstract]

Schedule of components of lease cost

The following table details the components of our lease cost in 2020 and 2019 (in thousands):


	Year Ended December 31,
	2020		2019

Operating lease cost	$	64,742	$	70,860
Variable lease cost	15,021		13,780
Short-term lease cost	37,524		20,384
Sublease income	(1,286)		(1,391)
Net lease cost	$	116,001	$	103,633

Schedule of maturities of operating lease liabilities

Maturities of our operating lease liabilities as of December 31, 2020 are as follows (in thousands):


	Vessels		Facilities and Equipment		Total

Less than one year	$	54,621	$	6,028	$	60,649
One to two years	52,106		5,435		57,541
Two to three years	34,580		4,649		39,229
Three to four years	2,470		4,374		6,844
Four to five years	—		2,340		2,340
Over five years	—		4,054		4,054
Total lease payments	$	143,777	$	26,880	$	170,657
Less: imputed interest	(13,352)		(4,697)		(18,049)
Total operating lease liabilities	$	130,425	$	22,183	$	152,608

Current operating lease liabilities	$	46,748	$	4,851	$	51,599
Non-current operating lease liabilities	83,677		17,332		101,009
Total operating lease liabilities	$	130,425	$	22,183	$	152,608

Maturities of our operating lease liabilities as of December 31, 2019 are as follows (in thousands):


	Vessels		Facilities and Equipment		Total

Less than one year	$	60,210	$	6,610	$	66,820
One to two years	54,564		5,888		60,452
Two to three years	52,106		5,257		57,363
Three to four years	34,580		4,622		39,202
Four to five years	2,470		4,349		6,819
Over five years	—		6,251		6,251
Total lease payments	$	203,930	$	32,977	$	236,907
Less: imputed interest	(24,846)		(6,449)		(31,295)
Total operating lease liabilities	$	179,084	$	26,528	$	205,612

Current operating lease liabilities	$	48,716	$	5,069	$	53,785
Non-current operating lease liabilities	130,368		21,459		151,827
Total operating lease liabilities	$	179,084	$	26,528	$	205,612

Schedule of weighted average remaining lease term and discount rate

The following table presents the weighted average remaining lease term and discount rate:


	December 31,
	2020		2019

Weighted average remaining lease term	3.1 years		4.0 years
Weighted average discount rate	7.53	%	7.54	%

Schedule of other information related to operating leases

The following table presents other information related to our operating leases (in thousands):


	Year Ended December 31,
	2020		2019

Cash paid for operating lease liabilities	$	66,026	$	71,698
ROU assets obtained in exchange for new operating lease obligations	516		1,168

Business Combinations And Goodwill (Tables)

12 Months Ended

Dec. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of changes in carrying amount of goodwill

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


	Well Intervention

Balance at December 31, 2018	$	—
Additions (1)	6,855

Other adjustments (2)	302
Balance at December 31, 2019	7,157

Other adjustments (2)	(468)
Impairment loss (3)	(6,689)

Balance at December 31, 2020	$	—

(1)Relates to goodwill arising from the acquisition of a controlling interest in STL in May 2019.

(2)Relates to foreign currency adjustments.

(3)Relates to the impairment of the entire STL goodwill balance in March 2020.

Long-Term Debt (Tables)

12 Months Ended

Dec. 31, 2020

Debt Disclosure [Abstract]

Schedule of long-term debt

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


	December 31,
	2020		2019


Term Loan (matures December 2021)	$	29,750	$	33,250
2022 Notes (mature May 2022)	35,000		125,000
2023 Notes (mature September 2023)	30,000		125,000
2026 Notes (mature February 2026)	200,000		—
MARAD Debt (matures February 2027)	56,410		63,610
Nordea Q5000 Loan (matures January 2021) (1)	53,572		89,286
Unamortized debt discounts	(45,692)		(22,540)
Unamortized debt issuance costs	(9,477)		(7,753)
Total debt	349,563		405,853
Less current maturities	(90,651)		(99,731)
Long-term debt	$	258,912	$	306,122

(1)We repaid the Nordea Q5000 Loan in January 2021.

Schedule of maturities of long-term debt outstanding

Scheduled maturities of our long-term debt outstanding as of December 31, 2020 are as follows (in thousands):


	Term Loan		2022 Notes		2023 Notes		2026 Notes		MARAD Debt		Nordea Q5000 Loan		Total

Less than one year	$	29,750	$	—	$	—	$	—	$	7,560	$	53,572	$	90,882
One to two years	—		35,000		—		—		7,937		—		42,937
Two to three years	—		—		30,000		—		8,333		—		38,333
Three to four years	—		—		—		—		8,749		—		8,749
Four to five years	—		—		—		—		9,186		—		9,186
Over five years	—		—		—		200,000		14,645		—		214,645
Gross debt	29,750		35,000		30,000		200,000		56,410		53,572		404,732
Unamortized debt discounts (1)	—		(1,325)		(2,651)		(41,716)		—		—		(45,692)
Unamortized debt issuance costs (2)	(191)		(198)		(427)		(5,572)		(3,049)		(40)		(9,477)
Total debt	29,559		33,477		26,922		152,712		53,361		53,532		349,563
Less current maturities	(29,559)		—		—		—		(7,560)		(53,532)		(90,651)
Long-term debt	$	—	$	33,477	$	26,922	$	152,712	$	45,801	$	—	$	258,912

(2)Debt issuance costs are amortized to interest expense over the term of the applicable debt agreement.

Schedule of components of net interest expense

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


	Year Ended December 31,
	2020		2019		2018

Interest expense	$	30,538	$	31,186	$	32,617
Capitalized interest (1)	(1,182)		(20,246)		(15,629)
Interest income	(825)		(2,607)		(3,237)
Net interest expense	$	28,531	$	8,333	$	13,751

(1)The significant reduction in capitalized interest in 2020 was attributable to the conclusion of our planned major capital commitments following the completion of the Q7000.

- Definition

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

+ References

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+ Details

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Schedule of components of income tax provision (benefit)

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


	Year Ended December 31,
	2020		2019		2018

Current	$	(14,818)	$	4,374	$	4,830
Deferred	(3,883)		3,485		(2,430)
	$	(18,701)	$	7,859	$	2,400


Domestic	$	(15,074)	$	3,715	$	(3,161)
Foreign	(3,627)		4,144		5,561
	$	(18,701)	$	7,859	$	2,400

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,
	2020		2019		2018

Domestic	$	(3,406)	$	2,219	$	(28,838)
Foreign	4,789		63,337		59,836
	$	1,383	$	65,556	$	30,998

Schedule of differences between income tax provision (benefit) at U.S. statutory rate and actual income tax provision (benefit)

The primary differences between the income tax provision (benefit) at the U.S. statutory rate and our actual income tax provision (benefit) are as follows:


	Year Ended December 31,
	2020				2019				2018

Taxes at U.S. statutory rate	$	290	21.0	%	$	13,767	21.0	%	$	6,510	21.0	%
Foreign tax provision	(3,426)		(247.7)		(6,557)		(10.0)		(4,941)		(15.9)
CARES Act	(7,596)		(549.2)		—		—		—		—
Subsidiary restructuring	(8,333)		(602.5)		—		—		—		—
Other	364		26.2		649		1.0		831		2.6
Income tax provision (benefit)	$	(18,701)	(1,352.2)	%	$	7,859	12.0	%	$	2,400	7.7	%

Schedule of deferred income taxes


	December 31,
	2020		2019
Deferred tax liabilities:
Depreciation	$	153,226	$	166,239
Debt discounts on 2022 Notes, 2023 Notes and 2026 Notes	9,298		4,643

Total deferred tax liabilities	$	162,524	$	170,882
Deferred tax assets:
Net operating losses	$	(59,794)	$	(64,178)
Reserves, accrued liabilities and other	(11,631)		(13,203)
Total deferred tax assets	(71,425)		(77,381)
Valuation allowance	19,722		18,631
Net deferred tax liabilities	$	110,821	$	112,132

Shareholders' Equity (Tables)

12 Months Ended

Dec. 31, 2020

Stockholders' Equity Note [Abstract]

Schedule of components of accumulated OCI

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


	December 31,
	2020		2019

Cumulative foreign currency translation adjustment	$	(51,620)	$	(64,455)
Net unrealized loss on hedges, net of tax (1)	—		(285)

Accumulated OCI	$	(51,620)	$	(64,740)

(1)Relates to foreign currency hedges for the Grand Canyon III charter as well as interest rate hedge contracts for the Nordea Q5000 Loan (Note 21).

Revenue From Contracts With Customers (Tables)

12 Months Ended

Dec. 31, 2020

Revenue from Contract with Customer [Abstract]

Schedule of disaggregated revenue

The following table provides information about disaggregated revenue by contract duration (in thousands):


	Well Intervention		Robotics		Production Facilities		Intercompany Eliminations (1)		Total Revenue
Year ended December 31, 2020
Short-term	$	206,812	$	117,439	$	—	$	—	$	324,251
Long-term	332,437		60,579		58,303		(42,015)		409,304
Total	$	539,249	$	178,018	$	58,303	$	(42,015)	$	733,555

Year ended December 31, 2019
Short-term	$	214,926	$	94,501	$	—	$	—	$	309,427
Long-term	378,374		77,171		61,210		(74,273)		442,482
Total	$	593,300	$	171,672	$	61,210	$	(74,273)	$	751,909

Year ended December 31, 2018
Short-term	$	199,294	$	89,072	$	—	$	—	$	288,366
Long-term	361,274		69,917		64,400		(44,139)		451,452
Total	$	560,568	$	158,989	$	64,400	$	(44,139)	$	739,818

(1)Intercompany revenues among our business segments are under agreements that are considered long-term.

Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 2020

Earnings Per Share [Abstract]

Computations of basic and diluted EPS


	Year Ended December 31,
	2020			2019			2018
	Income		Shares	Income		Shares	Income		Shares
Basic:
Net income attributable to common shareholders	$	22,174		$	57,919		$	28,598
Less: Undistributed earnings allocated to participating securities	(140)			(487)			(273)
Accretion of redeemable noncontrolling interests	(2,400)			(143)			—
Net income available to common shareholders, basic	$	19,634	148,993	$	57,289	147,536	$	28,325	146,702






Diluted:
Net income available to common shareholders, basic	$	19,634	148,993	$	57,289	147,536	$	28,325	146,702
Effect of dilutive securities:
Share-based awards other than participating securities	—		904	—		2,041	—		128
Undistributed earnings reallocated to participating securities	1		—	6		—	1		—
Net income available to common shareholders, diluted	$	19,635	149,897	$	57,295	149,577	$	28,326	146,830

Schedule of shares excluded from diluted EPS calculation


	Year Ended December 31,
	2020	2019	2018

2022 Notes	6,537	8,997	8,997
2023 Notes	9,391	13,202	10,344
2026 Notes	10,891	—	—
2032 Notes (1)	—	—	524

(1)The 2032 Notes were fully redeemed in 2018.

Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2020

Share-based Payment Arrangement [Abstract]

Schedule of grants of share-based awards

The following grants of share-based awards were made in 2020 under the 2005 Incentive Plan:


Date of Grant	Shares/ Units	Grant Date Fair Value Per Share/Unit			Vesting Period

January 2, 2020 (1)	369,938		$	9.63	33% per year over three years
January 2, 2020 (2)	369,938		$	13.15	100% on January 2, 2023
January 2, 2020 (3)	5,679		$	9.63	100% on January 1, 2022
April 1, 2020 (3)	43,351		$	1.64	100% on January 1, 2022
July 1, 2020 (3)	19,407		$	3.47	100% on January 1, 2022
October 1, 2020 (3)	24,831		$	2.41	100% on January 1, 2022
December 10, 2020 (4)	204,546		$	4.40	100% on December 10, 2021

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

(2)Reflects grants of PSUs to our executive officers and select management employees. These awards when vested can only be settled in shares of our common stock.

(3)Reflects grants of restricted stock to certain independent members of our Board who have elected to take their quarterly fees in stock in lieu of cash.

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

Summary of information about restricted stock

The following table summarizes information about our restricted stock:


	Year Ended December 31,
	2020			2019			2018
	Shares	Grant Date Fair Value (1)		Shares	Grant Date Fair Value (1)		Shares	Grant Date Fair Value (1)

Awards outstanding at beginning of year	1,173,045	$	6.81	1,320,989	$	7.40	1,579,218	$	7.63
Granted	667,752	7.06		846,835	6.02		614,286	7.46
Vested (2)	(631,498)	7.52		(993,361)	6.92		(823,310)	7.88
Forfeited	(32,348)	5.41		(1,418)	8.82		(49,205)	7.62
Awards outstanding at end of year	1,176,951	$	6.61	1,173,045	$	6.81	1,320,989	$	7.40

(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 that vested during the years ended December 31, 2020, 2019 and 2018 was $5.4 million, $6.5 million and $6.4 million, respectively.

Summary of information about equity PSU awards

The following table summarizes information about our equity PSU awards:


	Year Ended December 31,
	2020			2019			2018
	Units	Grant Date Fair Value (1)		Units	Grant Date Fair Value (1)		Units	Grant Date Fair Value (1)

Equity PSU awards outstanding at beginning of year	1,565,044	$	10.17	1,006,360	$	11.76	613,665	$	12.64
Granted	369,938	13.15		688,540	7.60		449,271	10.44
Vested	(589,335)	12.64		—	—		—	—
Forfeited	(48,521)	7.60		(129,856)	8.91		(56,576)	10.83
Equity PSU awards outstanding at end of year	1,297,126	$	9.99	1,565,044	$	10.17	1,006,360	$	11.76

(1)Represents the weighted average grant date fair value, which is determined using a Monte Carlo simulation model.

Business Segment Information (Tables)

12 Months Ended

Dec. 31, 2020

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,
	2020		2019		2018
Net revenues —
Well Intervention	$	539,249	$	593,300	$	560,568
Robotics	178,018		171,672		158,989
Production Facilities	58,303		61,210		64,400
Intercompany eliminations	(42,015)		(74,273)		(44,139)
Total	$	733,555	$	751,909	$	739,818





Income (loss) from operations —
Well Intervention	$	26,855	$	89,564	$	87,643
Robotics	13,755		7,261		(14,054)
Production Facilities	15,975		17,160		27,263
Segment operating income	56,585		113,985		100,852
Goodwill impairment (1)	(6,689)		—		—
Corporate, eliminations and other	(36,871)		(45,988)		(49,309)
Total	13,025		67,997		51,543
Net interest expense	(28,531)		(8,333)		(13,751)
Other non-operating income (expense), net	16,889		5,892		(6,794)
Income before income taxes	$	1,383	$	65,556	$	30,998





Capital expenditures —
Well Intervention	$	19,523	$	139,212	$	136,164
Robotics	257		417		151
Production Facilities	—		123		325
Corporate and other	464		1,102		443
Total	$	20,244	$	140,854	$	137,083


Depreciation and amortization —
Well Intervention	$	101,756	$	80,153	$	76,943
Robotics	15,952		16,459		19,175
Production Facilities	15,652		15,658		14,070
Corporate and eliminations	349		450		334
Total	$	133,709	$	112,720	$	110,522

(1)Relates to the impairment of the entire STL goodwill balance (Note 7).

Summary of intercompany segment revenues

Intercompany segment revenues are as follows (in thousands):


	Year Ended December 31,
	2020		2019		2018

Well Intervention (1)	$	15,039	$	43,484	$	14,218
Robotics	26,976		30,789		29,921
Total	$	42,015	$	74,273	$	44,139

(1)Amount in the year ended December 31, 2019 included $27.5 million associated with the P&A work on our oil and gas properties in our Production Facilities segment (Note 16).

Schedule of revenue by individually significant geographic location

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


	Year Ended December 31,
	2020		2019		2018

U.S.	$	304,563	$	297,162	$	271,260
U.K.	133,005		193,903		194,434
Brazil	208,565		216,796		208,054
Other	87,422		44,048		66,070
Total	$	733,555	$	751,909	$	739,818

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

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


	December 31,
	2020		2019

U.S.	$	750,986	$	808,683
U.K. (1)	764,070		782,246
Brazil	267,896		281,698
Singapore	12		10

Total	$	1,782,964	$	1,872,637

(1)Includes certain assets that are based in the U.K. but may operate in the North Sea, West Africa and other regions, including the Q7000.

Schedule of total assets by reportable segment

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


	December 31,
	2020		2019

Well Intervention	$	2,134,081	$	2,180,180
Robotics	132,550		151,478
Production Facilities	129,773		142,624
Corporate and other	101,874		122,449
Total	$	2,498,278	$	2,596,731

Asset Retirement Obligations (Tables)

12 Months Ended

Dec. 31, 2020

Asset Retirement Obligation Disclosure [Abstract]

Schedule of asset retirement obligations

The following table describes the changes in our AROs (both current and long-term) for the years ended December 31, 2020 and 2019 (in thousands):


	2020		2019

AROs at January 1,	$	28,258	$	—
Liability incurred during the period	—		53,294
Liability settled during the period	—		(28,296)
Revisions in estimated cash flows	—		822
Accretion expense	2,655		2,438
AROs at December 31,	$	30,913	$	28,258

Statement Of Cash Flow Information (Tables)

12 Months Ended

Dec. 31, 2020

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,
	2020		2019		2018

Interest paid, net of interest capitalized	$	15,943	$	1,909	$	7,369
Income taxes paid	7,434		8,856		5,705

Allowance Accounts (Tables)

12 Months Ended

Dec. 31, 2020

SEC Schedule, 12-09, 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, 2020 (in thousands):


	Allowance for Credit Losses		Deferred Tax Asset Valuation Allowance

Balance at December 31, 2017	$	2,752	$	12,337

Deductions (1)	(2,752)		—
Adjustments (2)	—		5,603
Balance at December 31, 2018	—		17,940


Adjustments (2)	—		691
Balance at December 31, 2019	—		18,631
Additions (3)	2,684		—

Adjustments (2) (4)	785		1,091
Balance at December 31, 2020	$	3,469	$	19,722

(1)The decrease in allowance for credit losses reflects the write-offs of accounts receivable that are either settled or deemed uncollectible

(2)The increase in valuation allowance primarily reflects additional net operating losses in our Robotics segment in the U.K. for which insufficient future taxable income exists to offset the losses.

(3)The additions in allowance for credit losses reflect credit loss reserves during 2020.

(4)The adjustment in allowance for credit losses reflects provision for current expected credit losses upon the adoption of ASU No. 2016-13 on January 1, 2020.

Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2020

Fair Value Disclosures [Abstract]

Schedule of financial instruments measured at fair value on a recurring basis

The following table provides additional information relating to those financial instruments measured at fair value on a recurring basis as of December 31, 2019 (in thousands):


	Fair Value at December 31, 2019								Valuation Approach
	Level 1		Level 2		Level 3		Total
Assets:
Interest rate swaps	$	—	$	44	$	—	$	44	(c)

Liabilities:
Foreign exchange contracts — hedging instruments	—		401		—		401		(c)
Foreign exchange contracts — non-hedging instruments	—		601		—		601		(c)
Total net liability	$	—	$	958	$	—	$	958

Schedule of principal amount and estimated fair value of long-term debt

The principal amount and estimated fair value of our long-term debt are as follows (in thousands):


	December 31,
	2020				2019
	Principal Amount (1)		Fair Value (2) (3)		Principal Amount (1)		Fair Value (2) (3)


Term Loan (matures December 2021)	$	29,750	$	28,969	$	33,250	$	32,959
Nordea Q5000 Loan (matures January 2021) (4)	53,572		53,598		89,286		89,398
MARAD Debt (matures February 2027)	56,410		62,318		63,610		68,643
2022 Notes (mature May 2022)	35,000		33,513		125,000		134,225
2023 Notes (mature September 2023)	30,000		28,650		125,000		162,188
2026 Notes (mature February 2026)	200,000		211,383		—		—
Total debt	$	404,732	$	418,431	$	436,146	$	487,413

(1)Principal amount includes current maturities and excludes the related unamortized debt discount and debt issuance costs. See Note 8 for additional disclosures on our long-term debt.

Derivative Instruments And Hedging Activities (Tables)

12 Months Ended

Dec. 31, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of balance sheet location and fair value of derivative instruments designated as hedging instruments

The following table presents the balance sheet location and fair value of our derivative instruments that were designated as hedging instruments as of December 31, 2019 (in thousands):


	December 31,
	2019
	Balance Sheet Location	Fair Value
Asset Derivative Instruments:
Interest rate swaps	Other current assets	$	44

		$	44

Liability Derivative Instruments:
Foreign exchange contracts	Accrued liabilities	$	401



		$	401

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

The following table presents the balance sheet location and fair value of our derivative instruments that were not designated as hedging instruments as of December 31, 2019 (in thousands):


	December 31,
	2019
	Balance Sheet Location	Fair Value
Liability Derivative Instruments:
Foreign exchange contracts	Accrued liabilities	$	601

		$	601

Schedule of impact of derivative instruments designated as hedging instruments on accumulated OCI and consolidated statements of operations


	Unrealized Gain (Loss) Recognized in OCI
	Year Ended December 31,
	2020		2019		2018

Foreign exchange contracts	$	(54)	$	(315)	$	(1,453)
Interest rate swaps	(41)		(365)		606
	$	(95)	$	(680)	$	(847)


	Location of Gain (Loss) Reclassified from Accumulated OCI into Earnings	Gain (Loss) Reclassified from Accumulated OCI into Earnings
		Year Ended December 31,
		2020		2019		2018

Foreign exchange contracts	Cost of sales	$	(455)	$	(6,125)	$	(7,709)
Interest rate swaps	Net interest expense	3		655		508
		$	(452)	$	(5,470)	$	(7,201)

Schedule of impact of derivative instruments not designated as hedging instruments on consolidated statements of operations

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


	Location of Loss Recognized in Earnings	Loss Recognized in Earnings
		Year Ended December 31,
		2020		2019		2018

Foreign exchange contracts	Other income (expense), net	$	(81)	$	(378)	$	(901)
		$	(81)	$	(378)	$	(901)

Quarterly Financial Information (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2020

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,
2020
Net revenues	$	181,021	$	199,147	$	193,490	$	159,897
Gross profit	2,010		29,576		34,628		13,695
Net income (loss)	(13,928)		5,450		24,445		4,117
Net income (loss) attributable to common shareholders	(11,938)		5,450		24,499		4,163
Basic earnings (loss) per common share	$	(0.09)	$	0.04	$	0.16	$	0.03
Diluted earnings (loss) per common share	$	(0.09)	$	0.04	$	0.16	$	0.03





2019
Net revenues	$	166,823	$	201,728	$	212,609	$	170,749
Gross profit	16,254		39,934		55,074		26,576
Net income	1,318		16,823		31,622		7,934
Net income attributable to common shareholders	1,318		16,854		31,695		8,052
Basic earnings per common share	$	0.01	$	0.11	$	0.21	$	0.05
Diluted earnings per common share	$	0.01	$	0.11	$	0.21	$	0.05

Organization (Details)	12 Months Ended
Organization (Details)	Dec. 31, 2020 segment vessel
Segment Reporting Information [Line Items]
Number of reportable segments \| segment	3
Well Intervention
Segment Reporting Information [Line Items]
Number of chartered vessels	2
Robotics
Segment Reporting Information [Line Items]
Number of chartered vessels	2

Summary Of Significant Accounting Policies - Restricted Cash (Details) - USD ($) $ in Thousands	Jan. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash		$ 0	$ 54,130
Forecast
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash	$ 73,400

Summary Of Significant Accounting Policies - Deferred Recertification And Dry Dock Costs (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Finite-Lived Intangible Assets [Line Items]
Deferred recertification and dry dock costs, net	$ 21,464	$ 16,065
Deferred recertification and dry dock costs accumulated amortization	21,800	15,700
Recertification and dry dock amortization expense	$ 14,300	$ 12,400	$ 8,300
Minimum
Finite-Lived Intangible Assets [Line Items]
Recertification and dry dock amortization period	30 months
Recertification process period	1 month
Maximum
Finite-Lived Intangible Assets [Line Items]
Recertification and dry dock amortization period	60 months
Recertification process period	3 months

Summary Of Significant Accounting Policies - Foreign Currency (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Accounting Policies [Abstract]
Foreign currency transaction gains (losses)	$ 4.6	$ 1.5	$ (4.3)

Summary Of Significant Accounting Policies - Major Customers And Concentration Of Risk (Details)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Petrobras
Revenue, Major Customer [Line Items]
Percentage of concentration risk	28.00%	29.00%	28.00%
BP
Revenue, Major Customer [Line Items]
Percentage of concentration risk	17.00%	15.00%	15.00%
Shell
Revenue, Major Customer [Line Items]
Percentage of concentration risk		13.00%

Summary Of Significant Accounting Policies - New Accounting Standards (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Jan. 01, 2021	Jan. 01, 2020	Dec. 31, 2019	Jan. 01, 2019
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Total operating lease liabilities	$ 152,608			$ 205,612
Operating lease right-of-use assets	149,656			201,118
Retained earnings	464,524			445,370
Long-term debt	349,563			405,853
Common stock	1,327,592			1,318,961
Deferred tax liabilities	110,821			$ 112,132
Accounting Standards Update 2016-02 Cumulative Effect, Period of Adoption
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Total operating lease liabilities					$ 259,000
Operating lease right-of-use assets					253,400
Retained earnings					4,600
Tax effect of deferred gain on sale and leaseback transaction					$ 900
Accounting Standards Update 2016-13
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Provision for credit losses on accounts receivable	$ 700
Accounting Standards Update 2016-13 \| Cumulative Effect, Period of Adoption
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Retained earnings			$ (600)
Tax effect of credit losses			$ (200)
Accounting Standards Update 2020-06 [Member] \| Cumulative Effect, Period of Adoption \| Forecast
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Retained earnings		$ 6,700
Long-term debt		44,100
Common stock		(41,500)
Deferred tax liabilities		$ (9,300)

Details Of Certain Accounts - Other Current Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Contract assets (Note 12)	$ 2,446	$ 740
Prepaids	15,904	12,635
Deferred costs (Note 12)	23,522	28,340
Income tax receivable (Note 9)	20,787	1,261
Other receivable (Note 16)	29,782	0
Other	9,651	7,474
Total other current assets	$ 102,092	$ 50,450

Details Of Certain Accounts - Other Assets, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Deferred recertification and dry dock costs, net (Note 2)	$ 21,464	$ 16,065
Deferred costs (Note 12)	861	14,531
Charter deposit	12,544	12,544
Other receivable (Note 16)	0	27,264
Goodwill (Note 7)	0	7,157
Intangible assets with finite lives, net (Note 2)	3,809	3,847
Other	1,335	3,100
Total other assets, net	$ 40,013	$ 84,508

Details Of Certain Accounts - Accrued Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accrued payroll and related benefits	$ 24,768	$ 31,417
Accrued interest	7,098	3,942
Investee losses in excess of investment (Note 5)	1,499	4,069
Deferred revenue (Note 12)	8,140	11,568
AROs (Note 16)	30,913	0
Other	14,617	11,393
Total accrued liabilities	$ 87,035	$ 62,389

Details Of Certain Accounts - Other Non-Current Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Deferred revenue (Note 12)	$ 1,869	$ 8,286
AROs (Note 16)	0	28,258
Other	2,009	2,100
Total other non-current liabilities	$ 3,878	$ 38,644

Property And Equipment - Gross Components Of Property And Equipment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Property and equipment	$ 2,948,907	$ 2,922,274
Vessels
Property, Plant and Equipment [Line Items]
Property and equipment	$ 2,349,752	2,323,314
Vessels \| Minimum
Property, Plant and Equipment [Line Items]
Estimated useful life	15 years
Vessels \| Maximum
Property, Plant and Equipment [Line Items]
Estimated useful life	30 years
ROVs, Trenchers and ROVDrill
Property, Plant and Equipment [Line Items]
Property and equipment	$ 263,968	270,004
Estimated useful life	10 years
Machinery, Equipment and Leasehold Improvements
Property, Plant and Equipment [Line Items]
Property and equipment	$ 335,187	$ 328,956
Machinery, Equipment and Leasehold Improvements \| Minimum
Property, Plant and Equipment [Line Items]
Estimated useful life	5 years
Machinery, Equipment and Leasehold Improvements \| Maximum
Property, Plant and Equipment [Line Items]
Estimated useful life	15 years

Equity Method Investments - Narrative (Details) - Independence Hub, LLC - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Schedule of Equity Method Investments [Line Items]
Percentage of ownership interest	20.00%
Investee losses in excess of investment	$ 1.5	$ 4.1

Leases - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
Leases - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2020
Leases [Abstract]
Minimum sublease income to be received in the future		$ 2.1
Total rental expense	$ 147.8
Total sublease rental income	$ 1.4

Leases - Components Of Lease Cost (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Operating lease cost	$ 64,742	$ 70,860
Variable lease cost	15,021	13,780
Short-term lease cost	37,524	20,384
Sublease income	(1,286)	(1,391)
Net lease cost	$ 116,001	$ 103,633

Leases - Maturities Of Operating Lease Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
Less than one year	$ 60,649	$ 66,820
One to two years	57,541	60,452
Two to three years	39,229	57,363
Three to four years	6,844	39,202
Four to five years	2,340	6,819
Over five years	4,054	6,251
Total lease payments	170,657	236,907
Less: imputed interest	(18,049)	(31,295)
Total operating lease liabilities	152,608	205,612
Current operating lease liabilities	51,599	53,785
Non-current operating lease liabilities	101,009	151,827
Vessels
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
Less than one year	54,621	60,210
One to two years	52,106	54,564
Two to three years	34,580	52,106
Three to four years	2,470	34,580
Four to five years	0	2,470
Over five years	0	0
Total lease payments	143,777	203,930
Less: imputed interest	(13,352)	(24,846)
Total operating lease liabilities	130,425	179,084
Current operating lease liabilities	46,748	48,716
Non-current operating lease liabilities	83,677	130,368
Facilities and Equipment
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
Less than one year	6,028	6,610
One to two years	5,435	5,888
Two to three years	4,649	5,257
Three to four years	4,374	4,622
Four to five years	2,340	4,349
Over five years	4,054	6,251
Total lease payments	26,880	32,977
Less: imputed interest	(4,697)	(6,449)
Total operating lease liabilities	22,183	26,528
Current operating lease liabilities	4,851	5,069
Non-current operating lease liabilities	$ 17,332	$ 21,459

Leases - Weighted Average Remaining Lease Term And Discount Rate (Details)	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Weighted average remaining lease term (in years)	3 years 1 month 6 days	4 years
Weighted average discount rate (as a percent)	7.53%	7.54%

Leases - Other Information Related To Operating Leases (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Cash paid for operating lease liabilities	$ 66,026	$ 71,698
ROU assets obtained in exchange for new operating lease obligations	$ 516	$ 1,168

Business Combinations And Goodwill (Details) $ in Millions	May 31, 2019 USD ($)
STL
Business Acquisition [Line Items]
Redeemable noncontrolling interests, ownership percentage	30.00%
STL
Business Acquisition [Line Items]
Controlling interest acquired, ownership percentage	70.00%
Total consideration for business acquisition	$ 5.1

Goodwill - Changes In Carrying Amount Of Goodwill (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Goodwill [Line Items]
Balance at the beginning of year	$ 7,157
Impairment loss	(6,689)	$ 0	$ 0
Balance at the end of year	0	7,157
Well Intervention
Goodwill [Line Items]
Balance at the beginning of year	7,157	0
Additions		6,855
Impairment loss	(6,689)
Other adjustments	(468)	302
Balance at the end of year	$ 0	$ 7,157	$ 0

Long-Term Debt - Schedule Of Long-Term Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Aug. 14, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Principal amount	$ 404,732
Unamortized debt discounts	(45,692)		$ (22,540)
Unamortized debt issuance costs	(9,477)		(7,753)
Total debt	349,563		405,853
Less current maturities	(90,651)		(99,731)
Long-term debt	258,912		306,122
Term Loan Maturing December 2021
Debt Instrument [Line Items]
Principal amount	29,750		33,250
Unamortized debt discounts	0
Unamortized debt issuance costs	(191)
Total debt	29,559
Less current maturities	(29,559)
Long-term debt	0
Convertible Senior Notes Maturing May 2022
Debt Instrument [Line Items]
Principal amount	35,000		125,000
Unamortized debt discounts	(1,325)		(8,000)
Unamortized debt issuance costs	(198)
Total debt	33,477
Less current maturities	0
Long-term debt	33,477
Convertible Senior Notes Maturing September 2023
Debt Instrument [Line Items]
Principal amount	30,000		125,000
Unamortized debt discounts	(2,651)		(14,500)
Unamortized debt issuance costs	(427)
Total debt	26,922
Less current maturities	0
Long-term debt	26,922
Convertible Senior Notes Maturing February 2026
Debt Instrument [Line Items]
Principal amount	200,000	$ 200,000	0
Unamortized debt discounts	(41,716)
Unamortized debt issuance costs	(5,572)
Total debt	152,712
Less current maturities	0
Long-term debt	152,712
MARAD Debt Maturing February 2027
Debt Instrument [Line Items]
Principal amount	56,410		63,610
Unamortized debt discounts	0
Unamortized debt issuance costs	(3,049)
Total debt	53,361
Less current maturities	(7,560)
Long-term debt	45,801
Nordea Q5000 Loan Maturing January 2021
Debt Instrument [Line Items]
Principal amount	53,572		$ 89,286
Unamortized debt discounts	0
Unamortized debt issuance costs	(40)
Total debt	53,532
Less current maturities	(53,532)
Long-term debt	$ 0

Long-Term Debt - Credit Agreement (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Mar. 31, 2018	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Principal amount		$ 404,732
Repayment of term loan		3,500	$ 35,442	$ 63,807
Gain (loss) on extinguishment of long-term debt		9,239	(18)	$ (1,183)
Term Loan Maturing December 2021
Debt Instrument [Line Items]
Principal amount		$ 29,750	$ 33,250
Interest rate (as a percent)		3.40%
Frequency of periodic payment		quarterly
Periodic principal payment (as a percent)		2.50%
Term Loan Maturing December 2021 \| Base Rate
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)		2.25%
Term Loan Maturing December 2021 \| LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)		3.25%
Revolving Credit Facility Maturing December 2021
Debt Instrument [Line Items]
Borrowing capacity		$ 175,000
Additional commitments (up to)		100,000
Available borrowing capacity		160,200
Letters of credit issued		$ 2,800
Commitment fee percentage		0.50%
Revolving Credit Facility Maturing December 2021 \| Base Rate \| Minimum
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)		1.50%
Revolving Credit Facility Maturing December 2021 \| Base Rate \| Maximum
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)		2.50%
Revolving Credit Facility Maturing December 2021 \| LIBOR \| Minimum
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)		2.50%
Revolving Credit Facility Maturing December 2021 \| LIBOR \| Maximum
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)		3.50%
Letter of Credit
Debt Instrument [Line Items]
Borrowing capacity		$ 25,000
Credit Agreement
Debt Instrument [Line Items]
Maturity date		Dec. 31, 2021
Credit Agreement \| Collateral Pledged
Debt Instrument [Line Items]
Maximum percent of shares of foreign subsidiaries		66.00%
Former Term Loan
Debt Instrument [Line Items]
Repayment of term loan	$ 61,000
Gain (loss) on extinguishment of long-term debt	$ (900)

Long-Term Debt - Convertible Senior Notes Due 2022 (Details) $ / shares in Units, $ in Thousands		12 Months Ended
	Aug. 14, 2020 USD ($)	Dec. 31, 2020 USD ($) $ / shares	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)
Debt Instrument [Line Items]
Gain (loss) on extinguishment of long-term debt		$ 9,239	$ (18)	$ (1,183)
Unamortized debt discount		(45,692)	(22,540)
Interest expense		$ 30,538	31,186	32,617
Convertible Senior Notes Maturing May 2022
Debt Instrument [Line Items]
Interest rate (as a percent)		4.25%
Frequency of periodic payment		semi-annually
Maturity date		May 01, 2022
Initial conversion ratio		0.0719748
Initial conversion price per share (in dollars per share) \| $ / shares		$ 13.89
Redemption price as a percentage of principal amount		100.00%
Minimum percentage in aggregate principal amount		25.00%
Repurchased principal amount	$ 90,000
Repurchase amount	89,100
Reacquisition of debt component	81,700
Gain (loss) on extinguishment of long-term debt	3,300
Unamortized debt discount		$ (1,325)	(8,000)
Reacquisition of equity component	$ 7,400
Carrying amount of equity component		9,500	16,900
Carrying amount of equity component, net of tax		$ 5,300	11,000
Effective interest rate (as a percent)		7.30%
Interest expense		$ 6,200	$ 8,400	$ 8,100

Long-Term Debt - Convertible Senior Notes Due 2023 (Details) $ / shares in Units, $ in Thousands		12 Months Ended
	Aug. 14, 2020 USD ($)	Dec. 31, 2020 USD ($) $ / shares	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)
Debt Instrument [Line Items]
Gain (loss) on extinguishment of long-term debt		$ 9,239	$ (18)	$ (1,183)
Unamortized debt discount		(45,692)	(22,540)
Interest expense		$ 30,538	31,186	32,617
Convertible Senior Notes Maturing September 2023
Debt Instrument [Line Items]
Interest rate (as a percent)		4.125%
Frequency of periodic payment		semi-annually
Maturity date		Sep. 15, 2023
Initial conversion ratio		0.1056133
Initial conversion price per share (in dollars per share) \| $ / shares		$ 9.47
Redemption price as a percentage of principal amount		100.00%
Minimum percentage in aggregate principal amount		25.00%
Repurchased principal amount	$ 95,000
Repurchase amount	94,100
Reacquisition of debt component	78,200
Gain (loss) on extinguishment of long-term debt	5,900
Unamortized debt discount		$ (2,651)	(14,500)
Reacquisition of equity component	$ 15,900
Carrying amount of equity component		4,200	20,100
Carrying amount of equity component, net of tax		$ 3,600	15,900
Effective interest rate (as a percent)		7.80%
Interest expense		$ 6,100	$ 8,400	$ 6,400

Long-Term Debt - Convertible Senior Notes Due 2026 (Details) $ / shares in Units, $ in Thousands		12 Months Ended
	Aug. 14, 2020 USD ($) $ / shares	Dec. 31, 2020 USD ($) $ / shares	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)
Debt Instrument [Line Items]
Principal amount		$ 404,732
Interest expense		30,538	$ 31,186	$ 32,617
Unamortized debt discount		$ (45,692)	(22,540)
2026 Capped Calls
Debt Instrument [Line Items]
Initial cap price (in dollars per share) \| $ / shares		$ 8.42
Convertible Senior Notes Maturing February 2026
Debt Instrument [Line Items]
Principal amount	$ 200,000	$ 200,000	0
Proceeds from debt, net of issuance costs	192,500
Net proceeds used to fund the cost of capped call transactions	$ 10,500
Interest rate (as a percent)	6.75%
Frequency of periodic payment	semi-annually
Maturity date		Feb. 15, 2026
Initial conversion ratio		0.1433795
Initial conversion price per share (in dollars per share) \| $ / shares	$ 6.97
Redemption price as a percentage of principal amount	100.00%
Minimum percentage in aggregate principal amount	25.00%
Carrying amount of equity component		$ 43,800
Carrying amount of equity component, net of tax		$ 34,600
Effective interest rate (as a percent)		12.40%
Interest expense		$ 7,200
Unamortized debt discount		(41,716)
Convertible Senior Notes Maturing May 2022
Debt Instrument [Line Items]
Principal amount		$ 35,000	125,000
Repurchased principal amount	$ 90,000
Interest rate (as a percent)		4.25%
Frequency of periodic payment		semi-annually
Maturity date		May 01, 2022
Initial conversion ratio		0.0719748
Initial conversion price per share (in dollars per share) \| $ / shares		$ 13.89
Redemption price as a percentage of principal amount		100.00%
Minimum percentage in aggregate principal amount		25.00%
Carrying amount of equity component		$ 9,500	16,900
Carrying amount of equity component, net of tax		$ 5,300	11,000
Effective interest rate (as a percent)		7.30%
Interest expense		$ 6,200	8,400	8,100
Unamortized debt discount		(1,325)	(8,000)
Convertible Senior Notes Maturing September 2023
Debt Instrument [Line Items]
Principal amount		$ 30,000	125,000
Repurchased principal amount	$ 95,000
Interest rate (as a percent)		4.125%
Frequency of periodic payment		semi-annually
Maturity date		Sep. 15, 2023
Initial conversion ratio		0.1056133
Initial conversion price per share (in dollars per share) \| $ / shares		$ 9.47
Redemption price as a percentage of principal amount		100.00%
Minimum percentage in aggregate principal amount		25.00%
Carrying amount of equity component		$ 4,200	20,100
Carrying amount of equity component, net of tax		$ 3,600	15,900
Effective interest rate (as a percent)		7.80%
Interest expense		$ 6,100	8,400	$ 6,400
Unamortized debt discount		$ (2,651)	$ (14,500)

Long-Term Debt - MARAD Debt (Details) - MARAD Debt Maturing February 2027	12 Months Ended
	Dec. 31, 2020
Debt Instrument [Line Items]
Guarantor obligations (as a percent)	50.00%
Frequency of periodic payment	semi-annual
Maturity date	February 2027
Interest rate (as a percent)	4.93%

Long-Term Debt - Nordea Credit Agreement (Details) - Nordea Q5000 Loan Maturing January 2021 - USD ($) $ in Millions		1 Months Ended
	Mar. 11, 2020	Apr. 30, 2015	Sep. 30, 2014
Debt Instrument [Line Items]
Borrowing capacity			$ 250.0
Funded amount		$ 250.0
Frequency of periodic payment			quarterly
Scheduled principal installments			$ 8.9
Balloon payment	$ 53.6		$ 80.4
Maturity date	Jan. 31, 2021		Apr. 30, 2020
LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)	2.75%		2.50%

Long-Term Debt - Other (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
Long-Term Debt - Other (Details) - USD ($) $ in Thousands	Mar. 31, 2012	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Gain (loss) on extinguishment of long-term debt		$ 9,239	$ (18)	$ (1,183)
Convertible Senior Notes Maturing March 2032
Debt Instrument [Line Items]
Maturity date	Mar. 15, 2032
Repurchased principal amount				60,100
Gain (loss) on extinguishment of long-term debt				$ (200)

Long-Term Debt - Maturities Of Long-Term Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Aug. 14, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Less than one year	$ 90,882
One to two years	42,937
Two to three years	38,333
Three to four years	8,749
Four to five years	9,186
Over five years	214,645
Gross debt	404,732
Unamortized debt discounts	(45,692)		$ (22,540)
Unamortized debt issuance costs	(9,477)		(7,753)
Total debt	349,563		405,853
Less current maturities	(90,651)		(99,731)
Long-term debt	258,912		306,122
Term Loan Maturing December 2021
Debt Instrument [Line Items]
Less than one year	29,750
One to two years	0
Two to three years	0
Three to four years	0
Four to five years	0
Over five years	0
Gross debt	29,750		33,250
Unamortized debt discounts	0
Unamortized debt issuance costs	(191)
Total debt	29,559
Less current maturities	(29,559)
Long-term debt	0
Convertible Senior Notes Maturing May 2022
Debt Instrument [Line Items]
Less than one year	0
One to two years	35,000
Two to three years	0
Three to four years	0
Four to five years	0
Over five years	0
Gross debt	35,000		125,000
Unamortized debt discounts	(1,325)		(8,000)
Unamortized debt issuance costs	(198)
Total debt	33,477
Less current maturities	0
Long-term debt	33,477
Convertible Senior Notes Maturing September 2023
Debt Instrument [Line Items]
Less than one year	0
One to two years	0
Two to three years	30,000
Three to four years	0
Four to five years	0
Over five years	0
Gross debt	30,000		125,000
Unamortized debt discounts	(2,651)		(14,500)
Unamortized debt issuance costs	(427)
Total debt	26,922
Less current maturities	0
Long-term debt	26,922
Convertible Senior Notes Maturing February 2026
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
Gross debt	200,000	$ 200,000	0
Unamortized debt discounts	(41,716)
Unamortized debt issuance costs	(5,572)
Total debt	152,712
Less current maturities	0
Long-term debt	152,712
MARAD Debt Maturing February 2027
Debt Instrument [Line Items]
Less than one year	7,560
One to two years	7,937
Two to three years	8,333
Three to four years	8,749
Four to five years	9,186
Over five years	14,645
Gross debt	56,410		63,610
Unamortized debt discounts	0
Unamortized debt issuance costs	(3,049)
Total debt	53,361
Less current maturities	(7,560)
Long-term debt	45,801
Nordea Q5000 Loan Maturing January 2021
Debt Instrument [Line Items]
Less than one year	53,572
One to two years	0
Two to three years	0
Three to four years	0
Four to five years	0
Over five years	0
Gross debt	53,572		$ 89,286
Unamortized debt discounts	0
Unamortized debt issuance costs	(40)
Total debt	53,532
Less current maturities	(53,532)
Long-term debt	$ 0

Long-Term Debt - Interest Expense And Capitalized Interest (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Debt Disclosure [Abstract]
Interest expense	$ 30,538	$ 31,186	$ 32,617
Capitalized interest (1)	(1,182)	(20,246)	(15,629)
Interest income	(825)	(2,607)	(3,237)
Net interest expense	$ 28,531	$ 8,333	$ 13,751

Income Taxes - Schedule Of Components Of Income Tax Provision (Benefit) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Current	$ (14,818)	$ 4,374	$ 4,830
Deferred	(3,883)	3,485	(2,430)
Income tax provision (benefit)	$ (18,701)	$ 7,859	$ 2,400

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Income Taxes - Schedule Of Components Of Income Tax Provision (Benefit) By Jurisdiction (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Domestic	$ (15,074)	$ 3,715	$ (3,161)
Foreign	(3,627)	4,144	5,561
Income tax provision (benefit)	$ (18,701)	$ 7,859	$ 2,400

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Income Taxes - Schedule Of Components Of Income (Loss) Before Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Domestic	$ (3,406)	$ 2,219	$ (28,838)
Foreign	4,789	63,337	59,836
Income before income taxes	$ 1,383	$ 65,556	$ 30,998

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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+ Details

Income Taxes - Narrative (Details) $ in Thousands	12 Months Ended
Income Taxes - Narrative (Details) $ in Thousands	Dec. 31, 2020 USD ($) numberOfForeignSubsidiaries	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)
Income Tax Disclosure [Abstract]
Net tax benefit from CARES Act	$ 7,600
Current tax benefit from CARES Act	18,900
Deferred tax expense from CARES Act	$ 11,300
Number of foreign subsidiaries \| numberOfForeignSubsidiaries	2
Net deferred tax benefits from foreign subsidiary restructuring	$ 8,300
Operating Loss Carryforwards [Line Items]
Valuation allowance	19,722	$ 18,631
Undistributed earnings of foreign subsidiaries	62,200
Unrecognized tax benefits	700		$ 300
U.S.
Operating Loss Carryforwards [Line Items]
Net operating loss carryforward	197,400
Net operating loss carryforwards not subject to expiration	85,100
Net operating loss carryforwards subject to expiration	112,300
Valuation allowance	2,900
Foreign
Operating Loss Carryforwards [Line Items]
Valuation allowance	$ 16,800

Income Taxes - Schedule Of Effective Income Tax Rate Reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Effective Income Tax Rate Reconciliation, Amount [Abstract]
Taxes at U.S. statutory rate	$ 290	$ 13,767	$ 6,510
Foreign tax provision	(3,426)	(6,557)	(4,941)
CARES Act	(7,596)	0	0
Subsidiary restructuring	(8,333)	0	0
Other	364	649	831
Income tax provision (benefit)	$ (18,701)	$ 7,859	$ 2,400
Effective Income Tax Rate Reconciliation, Percent [Abstract]
Taxes at U.S. statutory rate	21.00%	21.00%	21.00%
Foreign tax provision	(247.70%)	(10.00%)	(15.90%)
CARES Act	(549.20%)	0.00%	0.00%
Subsidiary restructuring	(602.50%)	0.00%	0.00%
Other	26.20%	1.00%	2.60%
Income tax provision (benefit)	(1352.20%)	12.00%	7.70%

Income Taxes - Schedule Of Deferred Tax Assets And Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Deferred tax liabilities:
Depreciation	$ 153,226	$ 166,239
Debt discounts on 2022 Notes, 2023 Notes and 2026 Notes	9,298	4,643
Total deferred tax liabilities	162,524	170,882
Deferred tax assets:
Net operating losses	(59,794)	(64,178)
Reserves, accrued liabilities and other	(11,631)	(13,203)
Total deferred tax assets	(71,425)	(77,381)
Valuation allowance	19,722	18,631
Net deferred tax liabilities	$ 110,821	$ 112,132

Shareholders' Equity - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
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
Option Indexed to Issuer's Equity [Line Items]
Aggregate cost of capped call transactions	$ (10,625)
2026 Capped Calls
Option Indexed to Issuer's Equity [Line Items]
Aggregate number of common shares subject to capped calls	28,675,900
Initial strike price	$ 6.97
Initial cap price (in dollars per share)	$ 8.42
Aggregate cost of capped call transactions	$ 10,600

Shareholders' Equity - Components Of Accumulated OCI (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Cumulative foreign currency translation adjustment	$ (51,620)	$ (64,455)
Net unrealized loss on hedges, net of tax	0	(285)
Accumulated OCI	$ (51,620)	$ (64,740)

- 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)	Dec. 31, 2020 shares
Equity [Abstract]
Remaining number of shares available to be repurchased	6,913,705

Revenue From Contracts With Customers - Schedule Of Disaggregated Revenue (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disaggregation of Revenue [Line Items]
Net revenues	$ 159,897	$ 193,490	$ 199,147	$ 181,021	$ 170,749	$ 212,609	$ 201,728	$ 166,823	$ 733,555	$ 751,909	$ 739,818
Intercompany Eliminations
Disaggregation of Revenue [Line Items]
Net revenues									(42,015)	(74,273)	(44,139)
Well Intervention
Disaggregation of Revenue [Line Items]
Net revenues									539,249	593,300	560,568
Well Intervention \| Intercompany Eliminations
Disaggregation of Revenue [Line Items]
Net revenues									(15,039)	(43,484)	(14,218)
Robotics
Disaggregation of Revenue [Line Items]
Net revenues									178,018	171,672	158,989
Robotics \| Intercompany Eliminations
Disaggregation of Revenue [Line Items]
Net revenues									(26,976)	(30,789)	(29,921)
Production Facilities
Disaggregation of Revenue [Line Items]
Net revenues									58,303	61,210	64,400
Short-term
Disaggregation of Revenue [Line Items]
Net revenues									324,251	309,427	288,366
Short-term \| Intercompany Eliminations
Disaggregation of Revenue [Line Items]
Net revenues									0	0	0
Short-term \| Well Intervention
Disaggregation of Revenue [Line Items]
Net revenues									206,812	214,926	199,294
Short-term \| Robotics
Disaggregation of Revenue [Line Items]
Net revenues									117,439	94,501	89,072
Short-term \| Production Facilities
Disaggregation of Revenue [Line Items]
Net revenues									0	0	0
Long-term
Disaggregation of Revenue [Line Items]
Net revenues									409,304	442,482	451,452
Long-term \| Intercompany Eliminations
Disaggregation of Revenue [Line Items]
Net revenues									(42,015)	(74,273)	(44,139)
Long-term \| Well Intervention
Disaggregation of Revenue [Line Items]
Net revenues									332,437	378,374	361,274
Long-term \| Robotics
Disaggregation of Revenue [Line Items]
Net revenues									60,579	77,171	69,917
Long-term \| Production Facilities
Disaggregation of Revenue [Line Items]
Net revenues									$ 58,303	$ 61,210	$ 64,400

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (a)
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Subparagraph (a)
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-Section 50
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-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
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-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130545-203045

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 924
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-URI http://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856

+ Details

Revenue From Contracts With Customers - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Revenue from Contract with Customer [Abstract]
Contract assets	$ 2.4	$ 0.7
Contract liabilities	10.0	19.9
Revenue recognized	11.6	10.1	$ 11.6
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Unsatisfied performance obligations	406.7
Revenue related to performance obligation satisfied in previous years		2.1
Deferred contract costs	24.4	42.9
Amortization of deferred contract costs	35.8	$ 31.5	$ 33.1
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Unsatisfied performance obligations	$ 301.2
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Unsatisfied performance obligations	$ 72.9
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Unsatisfied performance obligations	$ 32.6
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period

Earnings Per Share - Computation Of Basic And Diluted EPS (Details) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Basic:
Net income attributable to common shareholders	$ 4,163	$ 24,499	$ 5,450	$ (11,938)	$ 8,052	$ 31,695	$ 16,854	$ 1,318	$ 22,174	$ 57,919	$ 28,598
Less: Undistributed earnings allocated to participating securities									(140)	(487)	(273)
Accretion of redeemable noncontrolling interests									(2,400)	(143)	0
Net income available to common shareholders, basic									$ 19,634	$ 57,289	$ 28,325
Weighted average number of shares outstanding, basic (in shares)									148,993	147,536	146,702
Effect of dilutive securities:
Share-based awards other than participating securities									$ 0	$ 0	$ 0
Share-based awards other than participating securities (in shares)									904	2,041	128
Undistributed Earnings (Loss) Allocated to Participating Securities, Diluted									$ 1	$ 6	$ 1
Net income available to common shareholders, diluted									$ 19,635	$ 57,295	$ 28,326
Weighted average number of shares outstanding, diluted (in shares)									149,897	149,577	146,830

Earnings Per Share - Potentially Dilutive Shares Excluded From Dilutive EPS Calculation (Details) - shares shares in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Convertible Senior Notes Maturing May 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities (in shares)	6,537	8,997	8,997
Convertible Senior Notes Maturing September 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities (in shares)	9,391	13,202	10,344
Convertible Senior Notes Maturing February 2026
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities (in shares)	10,891	0	0
Convertible Senior Notes Maturing March 2032
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities (in shares)	0	0	524

Employee Benefit Plans - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions		1 Months Ended		12 Months Ended
	May 15, 2019	Jan. 31, 2021	Jan. 31, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of active incentive plans				1
ESPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Additional shares authorized for issuance (in shares)	1,500,000
Period common stock may be purchased through payroll deductions				4 months
Percentage of share of non-vested stock considered as call option				85.00%
Purchase limit per employee (in shares)				260
Shares available for issuance (in shares)				1,800,000
2005 Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Additional shares authorized for issuance (in shares)	7,000,000.0
Vesting period				3 years
Award vesting percentage				33.00%
Shares authorized for issuance (in shares)				17,300,000
Shares available for issuance (in shares)				6,800,000
2005 Incentive Plan \| Maximum Shares as Incentive Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized for issuance (in shares)				2,000,000.0
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)				667,752	846,835	614,286
Granted (in dollars per share)				$ 7.06	$ 6.02	$ 7.46
Share-based compensation				$ 4.2	$ 6.2	$ 6.0
Future share-based compensation				$ 4.4
Weighted average vesting period (in years)				1 year 2 months 12 days
Share-based payment awards vested				631,498	993,361	823,310
Fair value of awards vested				$ 5.4	$ 6.5	$ 6.4
RSUs \| January 2021 RSU Grant \| Subsequent Event
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)		452,381
Granted (in dollars per share)		$ 4.20
Total market value of shares granted		$ 1.9
PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period				3 years
Award vesting percentage				100.00%
PSUs \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage				200.00%
PSUs \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage				0.00%
Equity PSU Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage			200.00%
Granted (in shares)				369,938	688,540	449,271
Granted (in dollars per share)				$ 13.15	$ 7.60	$ 10.44
Share-based compensation				$ 4.0	$ 5.1	$ 3.8
Future share-based compensation				$ 4.6
Weighted average vesting period (in years)				1 year
Share-based payment awards vested			589,335	589,335	0	0
Equity PSU Awards \| Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment awards vested			1,178,670
Fair value of awards vested			$ 11.4
Equity PSU Awards \| Subsequent Event
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage		200.00%
Share-based payment awards vested		368,038
Equity PSU Awards \| Subsequent Event \| Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment awards vested		736,075
Fair value of awards vested		$ 3.1
Equity PSU Awards \| January 2021 PSU Grant \| Subsequent Event
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)		452,381
Granted (in dollars per share)		$ 5.33
Total market value of shares granted		$ 2.4
Liability PSU Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation						$ 0.9
Cash paid to settle share-based award liability					$ 11.1	0.9
Fixed Value Cash Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period				3 years
Long-term incentive cash awards granted				$ 4.7	4.6	5.2
Compensation expense				$ 4.4	3.2	$ 1.7
Fixed Value Cash Awards \| Subsequent Event
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Long-term incentive cash awards granted		$ 3.4
401(k) Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employer matching contribution (as a percent)				50.00%
Employer matching contribution percent of participant' salary (up to)				5.00%
Plan cost recognized				$ 1.6	$ 1.0

Employee Benefit Plans - Restricted Shares Granted (Details)	12 Months Ended
	Dec. 31, 2020 $ / shares shares
January 2, 2020 - 33% Per Year over Three Years
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Date of Grant	Jan. 02, 2020
Shares/ Units \| shares	369,938
Grant Date Fair Value Per Share/Unit \| $ / shares	$ 9.63
Vesting Percentage	33.00%
Vesting Period	3 years
January 2, 2020 - 100% on January 2, 2023
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Date of Grant	Jan. 02, 2020
Shares/ Units \| shares	369,938
Grant Date Fair Value Per Share/Unit \| $ / shares	$ 13.15
Vesting Percentage	100.00%
Vesting Date	Jan. 02, 2023
January 2, 2020 - 100% on January 1, 2022
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Date of Grant	Jan. 02, 2020
Shares/ Units \| shares	5,679
Grant Date Fair Value Per Share/Unit \| $ / shares	$ 9.63
Vesting Percentage	100.00%
Vesting Date	Jan. 01, 2022
April 1, 2020 - 100% on January 1, 2022
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Date of Grant	Apr. 01, 2020
Shares/ Units \| shares	43,351
Grant Date Fair Value Per Share/Unit \| $ / shares	$ 1.64
Vesting Percentage	100.00%
Vesting Date	Jan. 01, 2022
July 1, 2020 - 100% on January 1, 2022
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Date of Grant	Jul. 01, 2020
Shares/ Units \| shares	19,407
Grant Date Fair Value Per Share/Unit \| $ / shares	$ 3.47
Vesting Percentage	100.00%
Vesting Date	Jan. 01, 2022
October 1, 2020 - 100% on January 1, 2022
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Date of Grant	Oct. 01, 2020
Shares/ Units \| shares	24,831
Grant Date Fair Value Per Share/Unit \| $ / shares	$ 2.41
Vesting Percentage	100.00%
Vesting Date	Jan. 01, 2022
December 10, 2020 - 100% on December 10, 2021
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Date of Grant	Dec. 10, 2020
Shares/ Units \| shares	204,546
Grant Date Fair Value Per Share/Unit \| $ / shares	$ 4.40
Vesting Percentage	100.00%
Vesting Date	Dec. 10, 2021

Employee Benefit Plans - Schedule Of Restricted Stock Activity (Details) - Restricted Stock - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Shares
Awards outstanding at beginning of year (in shares)	1,173,045	1,320,989	1,579,218
Granted (in shares)	667,752	846,835	614,286
Vested (in shares)	(631,498)	(993,361)	(823,310)
Forfeited (in shares)	(32,348)	(1,418)	(49,205)
Awards outstanding at end of year (in shares)	1,176,951	1,173,045	1,320,989
Grant Date Fair Value
Awards outstanding at beginning of year (in dollars per share)	$ 6.81	$ 7.40	$ 7.63
Granted (in dollars per share)	7.06	6.02	7.46
Vested (in dollars per share)	7.52	6.92	7.88
Forfeited (in dollars per share)	5.41	8.82	7.62
Awards outstanding at end of year (in dollars per share)	$ 6.61	$ 6.81	$ 7.40
Fair value of awards vested	$ 5.4	$ 6.5	$ 6.4

Employee Benefit Plans - Schedule Of Equity PSU Award Activity (Details) - Equity PSU Awards - $ / shares	1 Months Ended	12 Months Ended
	Jan. 31, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Units
Awards outstanding at beginning of year (in shares)	1,565,044	1,565,044	1,006,360	613,665
Granted (in shares)		369,938	688,540	449,271
Vested (in shares)	(589,335)	(589,335)	0	0
Forfeited (in shares)		(48,521)	(129,856)	(56,576)
Awards outstanding at end of year (in shares)		1,297,126	1,565,044	1,006,360
Grant Date Fair Value
Awards outstanding at beginning of year (in dollars per share)	$ 10.17	$ 10.17	$ 11.76	$ 12.64
Granted (in dollars per share)		13.15	7.60	10.44
Vested (in dollars per share)		12.64	0	0
Forfeited (in dollars per share)		7.60	8.91	10.83
Awards outstanding at end of year (in dollars per share)		$ 9.99	$ 10.17	$ 11.76

Business Segment Information - Narrative (Details)	12 Months Ended
Business Segment Information - Narrative (Details)	Dec. 31, 2020 segment vessel
Segment Reporting Information [Line Items]
Number of reportable segments \| segment	3
Robotics
Segment Reporting Information [Line Items]
Number of chartered vessels \| vessel	2

Business Segment Information - Summary Of Financial Data By Segment (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Segment Reporting Information [Line Items]
Net revenues	$ 159,897	$ 193,490	$ 199,147	$ 181,021	$ 170,749	$ 212,609	$ 201,728	$ 166,823	$ 733,555	$ 751,909	$ 739,818
Income (loss) from operations									13,025	67,997	51,543
Goodwill impairment									(6,689)	0	0
Net interest expense									(28,531)	(8,333)	(13,751)
Other non-operating income (expense), net									16,889	5,892	(6,794)
Income before income taxes									1,383	65,556	30,998
Capital expenditures									20,244	140,854	137,083
Depreciation and amortization									133,709	112,720	110,522
Reportable Segments
Segment Reporting Information [Line Items]
Income (loss) from operations									56,585	113,985	100,852
Intercompany Eliminations
Segment Reporting Information [Line Items]
Net revenues									(42,015)	(74,273)	(44,139)
Corporate, Eliminations and Other
Segment Reporting Information [Line Items]
Income (loss) from operations									(36,871)	(45,988)	(49,309)
Capital expenditures									464	1,102	443
Depreciation and amortization									349	450	334
Well Intervention
Segment Reporting Information [Line Items]
Net revenues									539,249	593,300	560,568
Goodwill impairment									(6,689)
Well Intervention \| Reportable Segments
Segment Reporting Information [Line Items]
Net revenues									539,249	593,300	560,568
Income (loss) from operations									26,855	89,564	87,643
Capital expenditures									19,523	139,212	136,164
Depreciation and amortization									101,756	80,153	76,943
Well Intervention \| Intercompany Eliminations
Segment Reporting Information [Line Items]
Net revenues									(15,039)	(43,484)	(14,218)
Robotics
Segment Reporting Information [Line Items]
Net revenues									178,018	171,672	158,989
Robotics \| Reportable Segments
Segment Reporting Information [Line Items]
Net revenues									178,018	171,672	158,989
Income (loss) from operations									13,755	7,261	(14,054)
Capital expenditures									257	417	151
Depreciation and amortization									15,952	16,459	19,175
Robotics \| Intercompany Eliminations
Segment Reporting Information [Line Items]
Net revenues									(26,976)	(30,789)	(29,921)
Production Facilities
Segment Reporting Information [Line Items]
Net revenues									58,303	61,210	64,400
Production Facilities \| Reportable Segments
Segment Reporting Information [Line Items]
Net revenues									58,303	61,210	64,400
Income (loss) from operations									15,975	17,160	27,263
Capital expenditures									0	123	325
Depreciation and amortization									$ 15,652	$ 15,658	$ 14,070

Business Segment Information - Summary Of Intercompany Segment Revenues (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Segment Reporting Information [Line Items]
Net revenues	$ 159,897	$ 193,490	$ 199,147	$ 181,021	$ 170,749	$ 212,609	$ 201,728	$ 166,823	$ 733,555	$ 751,909	$ 739,818
Well Intervention
Segment Reporting Information [Line Items]
Net revenues									539,249	593,300	560,568
Robotics
Segment Reporting Information [Line Items]
Net revenues									178,018	171,672	158,989
Intercompany Eliminations
Segment Reporting Information [Line Items]
Net revenues									(42,015)	(74,273)	(44,139)
Intercompany Eliminations \| Well Intervention
Segment Reporting Information [Line Items]
Net revenues									(15,039)	(43,484)	(14,218)
Intercompany Eliminations \| Well Intervention \| Production Facilities
Segment Reporting Information [Line Items]
Net revenues										(27,500)
Intercompany Eliminations \| Robotics
Segment Reporting Information [Line Items]
Net revenues									$ (26,976)	$ (30,789)	$ (29,921)

- Definition

+ References

+ Details

Business Segment Information - Revenue By Geographic Location (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Segment Reporting Information [Line Items]
Net revenues	$ 159,897	$ 193,490	$ 199,147	$ 181,021	$ 170,749	$ 212,609	$ 201,728	$ 166,823	$ 733,555	$ 751,909	$ 739,818
United States
Segment Reporting Information [Line Items]
Net revenues									304,563	297,162	271,260
United Kingdom
Segment Reporting Information [Line Items]
Net revenues									133,005	193,903	194,434
Brazil
Segment Reporting Information [Line Items]
Net revenues									208,565	216,796	208,054
Other
Segment Reporting Information [Line Items]
Net revenues									$ 87,422	$ 44,048	$ 66,070

- Definition

+ References

+ Details

Business Segment Information - Property And Equipment Net Of Accumulated Depreciation By Geographic Location (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Segment Reporting Information [Line Items]
Property and equipment, net	$ 1,782,964	$ 1,872,637
United States
Segment Reporting Information [Line Items]
Property and equipment, net	750,986	808,683
United Kingdom
Segment Reporting Information [Line Items]
Property and equipment, net	764,070	782,246
Brazil
Segment Reporting Information [Line Items]
Property and equipment, net	267,896	281,698
Singapore
Segment Reporting Information [Line Items]
Property and equipment, net	$ 12	$ 10

Business Segment Information - Total Assets By Reportable Segment (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Segment Reporting Information [Line Items]
Total assets	$ 2,498,278	$ 2,596,731
Reportable Segments \| Well Intervention
Segment Reporting Information [Line Items]
Total assets	2,134,081	2,180,180
Reportable Segments \| Robotics
Segment Reporting Information [Line Items]
Total assets	132,550	151,478
Reportable Segments \| Production Facilities
Segment Reporting Information [Line Items]
Total assets	129,773	142,624
Corporate and Other
Segment Reporting Information [Line Items]
Total assets	$ 101,874	$ 122,449

- Definition

Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(11))
-URI http://asc.fasb.org/extlink&oid=120398452&loc=d3e534808-122878

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 28
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=75031198&loc=d3e14064-108612

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 50
-Paragraph 3
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 45
-Paragraph 25
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=116870748&loc=SL6758485-165988

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-03(a)(12))
-URI http://asc.fasb.org/extlink&oid=120400017&loc=d3e572229-122910

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599

+ Details

Asset Retirement Obligations - Asset Retirement Obligations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward]
Balance at beginning of year	$ 28,258	$ 0
Liabilities incurred during the period	0	53,294
Liability settled during the period	0	(28,296)
Revisions in estimated cash flows	0	822
Accretion expense	2,655	2,438
Balance at end of year	$ 30,913	$ 28,258

Commitments And Contingencies And Other Matters - Narrative (Details)	12 Months Ended
	Dec. 31, 2020
Siem \| Siem Helix 1 and Siem Helix 2
Commitments And Contingencies [Line Items]
Term of charter agreement	7 years

Statement Of Cash Flow Information - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Supplemental Cash Flow Information [Abstract]
Interest paid, net of interest capitalized	$ 15,943	$ 1,909	$ 7,369
Income taxes paid	$ 7,434	$ 8,856	$ 5,705

Statement Of Cash Flow Information - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Supplemental Cash Flow Information [Abstract]
Non-cash capital additions	$ 1.6	$ 10.2

Allowance Accounts - Summary Of Activity In Valuation Accounts (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Allowance for Credit Losses
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at the beginning of year	$ 0	$ 0	$ 2,752
Additions	2,684
Deductions			(2,752)
Adjustments	785	0	0
Balance at the end of year	3,469	0	0
Deferred Tax Asset Valuation Allowance
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at the beginning of year	18,631	17,940	12,337
Additions	0
Deductions			0
Adjustments	1,091	691	5,603
Balance at the end of year	$ 19,722	$ 18,631	$ 17,940

Fair Value Measurements - Assets And Liabilities Measured At Fair Value On A Recurring Basis (Details) - Fair Value, Measurements, Recurring $ in Thousands	Dec. 31, 2019 USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total net liability	$ 958
Foreign Exchange Contracts \| Hedging Instruments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liabilities	401
Foreign Exchange Contracts \| Non-Hedging Instruments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liabilities	601
Interest Rate Swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	44
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total net liability	0
Level 1 \| Foreign Exchange Contracts \| Hedging Instruments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liabilities	0
Level 1 \| Foreign Exchange Contracts \| Non-Hedging Instruments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liabilities	0
Level 1 \| Interest Rate Swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total net liability	958
Level 2 \| Foreign Exchange Contracts \| Hedging Instruments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liabilities	401
Level 2 \| Foreign Exchange Contracts \| Non-Hedging Instruments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liabilities	601
Level 2 \| Interest Rate Swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	44
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total net liability	0
Level 3 \| Foreign Exchange Contracts \| Hedging Instruments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liabilities	0
Level 3 \| Foreign Exchange Contracts \| Non-Hedging Instruments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liabilities	0
Level 3 \| Interest Rate Swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	$ 0

Fair Value Measurements - Principal Amount And Estimated Fair Value Of Long-Term Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Aug. 14, 2020	Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Principal amount	$ 404,732
Term Loan Maturing December 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Principal amount	29,750		$ 33,250
Fair value	28,969		32,959
Nordea Q5000 Loan Maturing January 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Principal amount	53,572		89,286
Fair value	53,598		89,398
MARAD Debt Maturing February 2027
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Principal amount	56,410		63,610
Fair value	62,318		68,643
Convertible Senior Notes Maturing May 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Principal amount	35,000		125,000
Fair value	33,513		134,225
Convertible Senior Notes Maturing September 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Principal amount	30,000		125,000
Fair value	28,650		162,188
Convertible Senior Notes Maturing February 2026
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Principal amount	200,000	$ 200,000	0
Fair value	211,383		0
Total Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Principal amount	404,732		436,146
Fair value	$ 418,431		$ 487,413

Derivative Instruments And Hedging Activities - Narrative (Details) $ in Millions	Jun. 30, 2015 USD ($)
Interest Rate Swaps \| Nordea Q5000 Loan Maturing January 2021
Derivative [Line Items]
Notional amount	$ 187.5

Derivative Instruments And Hedging Activities - Derivative Instruments Designated As Hedging Instruments (Details) $ in Thousands	Dec. 31, 2019 USD ($)
Derivatives, Fair Value [Line Items]
Asset derivative instruments designated as hedging instruments	$ 44
Liability derivative instruments designated as hedging instruments	401
Other Current Assets \| Interest Rate Swaps
Derivatives, Fair Value [Line Items]
Asset derivative instruments designated as hedging instruments	44
Accrued Liabilities \| Foreign Exchange Contracts
Derivatives, Fair Value [Line Items]
Liability derivative instruments designated as hedging instruments	$ 401

Derivative Instruments And Hedging Activities - Derivative Instruments Not Designated As Hedging Instruments (Details) $ in Thousands	Dec. 31, 2019 USD ($)
Derivative [Line Items]
Liability derivative instruments not designated as hedging instruments	$ 601
Accrued Liabilities \| Foreign Exchange Contracts
Derivative [Line Items]
Liability derivative instruments not designated as hedging instruments	$ 601

Derivative Instruments And Hedging Activities - Unrealized Gain (Loss) Recognized In OCI (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Derivative Instruments, Gain (Loss) [Line Items]
Unrealized Gain (Loss) Recognized in OCI	$ (95)	$ (680)	$ (847)
Foreign Exchange Contracts
Derivative Instruments, Gain (Loss) [Line Items]
Unrealized Gain (Loss) Recognized in OCI	(54)	(315)	(1,453)
Interest Rate Swaps
Derivative Instruments, Gain (Loss) [Line Items]
Unrealized Gain (Loss) Recognized in OCI	$ (41)	$ (365)	$ 606

Derivative Instruments And Hedging Activities - Gain (Loss) Reclassified From Accumulated OCI Into Earnings (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Reclassified from Accumulated OCI into Earnings	$ (452)	$ (5,470)	$ (7,201)
Foreign Exchange Contracts \| Cost of Sales
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Reclassified from Accumulated OCI into Earnings	(455)	(6,125)	(7,709)
Interest Rate Swaps \| Net Interest Expense
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Reclassified from Accumulated OCI into Earnings	$ 3	$ 655	$ 508

Derivative Instruments And Hedging Activities - Impact Of Derivative Instruments Not Designated As Hedging Instruments On Consolidated Statements Of Operations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Derivative Instruments, Gain (Loss) [Line Items]
Loss Recognized in Earnings	$ (81)	$ (378)	$ (901)
Foreign Exchange Contracts \| Other Income (Expense), Net
Derivative Instruments, Gain (Loss) [Line Items]
Loss Recognized in Earnings	$ (81)	$ (378)	$ (901)

Quarterly Financial Information (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Quarterly Financial Information Disclosure [Abstract]
Net revenues	$ 159,897	$ 193,490	$ 199,147	$ 181,021	$ 170,749	$ 212,609	$ 201,728	$ 166,823	$ 733,555	$ 751,909	$ 739,818
Gross profit	13,695	34,628	29,576	2,010	26,576	55,074	39,934	16,254	79,909	137,838	121,684
Net income (loss)	4,117	24,445	5,450	(13,928)	7,934	31,622	16,823	1,318	20,084	57,697	28,598
Net income (loss) attributable to common shareholders	$ 4,163	$ 24,499	$ 5,450	$ (11,938)	$ 8,052	$ 31,695	$ 16,854	$ 1,318	$ 22,174	$ 57,919	$ 28,598
Basic earnings (loss) per common share (in dollars per share)	$ 0.03	$ 0.16	$ 0.04	$ (0.09)	$ 0.05	$ 0.21	$ 0.11	$ 0.01	$ 0.13	$ 0.39	$ 0.19
Diluted earnings (loss) per common share (in dollars per share)	$ 0.03	$ 0.16	$ 0.04	$ (0.09)	$ 0.05	$ 0.21	$ 0.11	$ 0.01	$ 0.13	$ 0.38	$ 0.19

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity.

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The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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