3 Form Irs 3 Top 3 Fantastic Experience Of This Year’s 3 Form Irs 3

HOUSTON, Feb. 24, 2020 /PRNewswire/ — Oceaneering International, Inc. (“Oceaneering”) (NYSE:OII) today appear a net accident of $263 million, or $(2.66) per share, on acquirement of $561 actor for the three months concluded December 31, 2019.  Adapted net assets was $2.5 million, or $0.03 per share, assimilation the appulse of $255 actor of pre-tax adjustments, primarily $240 actor associated with asset impairments, write-downs and write-offs accustomed during the quarter.  During the above-mentioned division concluded September 30, 2019, Oceaneering appear a net accident of $25.5 million, or $(0.26) per share, on acquirement of $498 million, and an adapted net accident of $29.7 million, or $(0.30) per share.



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For the abounding year 2019, Oceaneering appear a net accident of $348 million, or $(3.52) per share, on acquirement of $2 billion.  Adapted net accident was $83 million, or $(0.84) per share, assimilation the appulse of $258 actor of pre-tax adjustments, primarily $240 actor associated with asset impairments, write-downs and write-offs accustomed during the year.  This compared to 2018 net accident of $212 million, or $(2.16) per share, on acquirement of $1.9 billion, and adapted net accident of $69.7 million, or $(0.71) per share.



Adjusted operating assets (loss), operating margins, net assets (loss) and balance (loss) per share, EBITDA and adapted EBITDA (as able-bodied as EBITDA and adapted EBITDA margins and forecasted 2020 EBITDA) and chargeless banknote breeze are non-GAAP measures that exclude the impacts of assertive articular items.  Reconciliations to the agnate GAAP measures are apparent in the tables Adapted Net Assets (Loss) and Adulterated Balance (Loss) per Allotment (EPS), EBITDA and EBITDA Margins, 2020 EBITDA Estimates, Chargeless Banknote Flow, Adapted Operating Assets (Loss) and Margins by Segment, and EBITDA and Adapted EBITDA and Margins by Segment.  These tables are included beneath beneath the explanation Reconciliations of Non-GAAP to GAAP Banking Information.



Summary of Results

(in thousands, except per allotment amounts)

Three Months Ended

Year Ended

Dec 31,

Sep 30,

Dec 31,

2019

2018

2019

2019

2018

Revenue

$

560,810

$

495,095

$

497,647

$

2,048,124

$

1,909,482

Gross Margin

(20,387)

33,035

49,061

98,244

129,226

Income (Loss) from Operations

(254,170)

(97,144)

(5,194)

(290,713)

(145,482)

Net Assets (Loss)

(262,912)

(64,139)

(25,523)

(348,444)

(212,327)

Diluted Balance (Loss) Per Share

$

(2.66)

$

(0.65)

$

(0.26)

$

(3.52)

$

(2.16)

Roderick A. Larson, President and Chief Executive Officer of Oceaneering, stated, “We were admiring that our circumscribed fourth division adapted EBITDA of $48.7 actor exceeded both our advice and accord estimates.  Our fourth division after-effects reflect college action levels, and we were encouraged that four of our bristles operating segments recorded consecutive improvements in adapted operating after-effects and adapted EBITDA.  As a aftereffect of the chargeless banknote breeze generated during the fourth quarter, primarily due to a abridgement in alive capital, our banknote position as of December 31, 2019 added to $374 million.

“During the quarter, we accustomed assertive non-cash accuse accompanying to impairments to the accustomed bulk of several of our argosy and assertive added assets, including amicableness and abstract assets, as bazaar altitude no best abutment the above-mentioned valuations for these assets.  A baby allocation of the asset write-downs accompanying to the retirement of 30 ROVs from our fleet.  Additionally, we accustomed restructuring costs as we abide to focus our efforts on adapting our asset base, geographic brand and staffing levels for the realities of the markets we serve.

“Sequentially, ROV canicule on appoint beneath as accustomed by 2%, about a 5% access in boilerplate acquirement per day on appoint resulted in a 3% access in acquirement for the fourth quarter. Adjusted operating after-effects beneath due to costs incurred to adapt our agile for an advancing access in action during 2020. These alertness costs were the arch contributor to the abatement of our ROV anniversary adapted EBITDA allowance to 27%, from the 31% accomplished during the aboriginal nine months of 2019.

“Our agile appliance for the fourth division was 58%, bottomward from 60% in the third quarter, primarily due to accustomed seasonality associated with the all-around barge market.  Our fourth division agile use was 64% in assignment abutment and 36% in vessel-based activity, compared to 63% and 37%, respectively, during the third quarter.  At the end of December, we had ROV affairs on 98 of the 156 amphibian rigs beneath contract, or 63%.

“At the end of 2019, our ROV agile admeasurement was 250 vehicles, as compared to 276 cartage at the end of the third quarter.  This reflects the retirement of 30 cartage from our alive agile during the division and the accession of 4 units.  The retired ROVs provided about 2% of the absolute canicule formed during the fourth quarter.  Pro forma fourth division utilization, assimilation these cartage as if they had been retired able as of the alpha of the quarter, was 64%.

“Subsea Articles fourth division adapted operating after-effects were about collapsed with the third division on college revenue.  As projected, added throughput aural our bogus articles business was somewhat account by lower melancholia appeal aural our account and rental business.  The aberration in acquirement mix amid our bogus articles business and our account and rental business resulted in a anniversary adapted operating allowance abatement to 8.0% for the fourth division from 8.8% for the third division of 2019.  Our Subsea Articles excess on December 31, 2019 was $630 million, compared to our September 30, 2019 excess of $609 million.  Our book-to-bill arrangement of 1.5, for the abounding year 2019, was hardly favorable to our advice range.

“Sequentially, Subsea Projects adapted operating after-effects bigger about on college revenue.  This advance was primarily due to better-than-anticipated Gulf of Mexico intervention, aliment and adjustment (IMR) activity, and college analysis casework action from several geoscience and abyssal architecture projects.  Asset Integrity adapted operating after-effects bigger on a bashful access in revenue.

“As compared to the third quarter, Advanced Technologies adapted fourth division operating assets added on college revenue.  However, these after-effects were black as achievement fell able-bodied abbreviate of our advice because the accustomed advance in ball business operating margins was not achieved.  This under-performance was chiefly due to bulk overruns on assertive completed projects, cessation in action awards, and customer-requested delays in action progression.  During the fourth quarter, our government business performed well, as anticipated. Unallocated Costs were in band with expectations.

“The abounding year 2019 circumscribed adapted banking after-effects were constant with our advice but were accomplished in a altered abode than expected.  Action levels and operating achievement aural our action segments exceeded our aboriginal expectations, led by our ROV and Subsea Articles segments. Operating achievement aural our Advanced Technologies articulation fell abbreviate of expectations, primarily due to beheading issues and customer-driven action delays and cancellations aural our ball business.  Compared to 2018, our 2019 circumscribed acquirement added 7% to $2.0 billion, with acquirement increases in ROV, Subsea Articles and Advanced Technologies actuality partially account by acquirement decreases in Subsea Projects and Asset Integrity.  Circumscribed adapted operating after-effects bigger by $22.4 million, led by our Subsea Articles and ROV segments.  In 2019, anniversary of our operating segments, except Asset Integrity, contributed absolute operating income, as adjusted, and all of our operating segments contributed absolute EBITDA, as adjusted.  Overall, we generated adapted EBITDA of $165 million. We generated $158 actor in banknote breeze from operations and invested $148 actor on basic expenditures.

“We apprehend our 2020 banking after-effects to advance year over year, due to our expectations for college action and operating margins in anniversary of our segments.  For the year, we ahead breeding $180 actor to $220 actor of EBITDA, with absolute operating assets and EBITDA contributions from anniversary of our operating segments.  At the mean of this range, our EBITDA for 2020 would represent a 21% access over 2019 adapted EBITDA.  Apart from seasonality, we appearance appraisement and margins in the accustomed action markets to be abiding with accretion opportunities for improvement.  We ahead all of our segments will accomplish bigger anniversary operating results, with the bigger increases in advantage occurring in ROV, Subsea Articles and Advanced Technologies.

“For ROVs, our apprehension for bigger after-effects is based on added canicule on appoint in both assignment abutment and vessel-based services, accessory accouterment in geographic mix, and about abiding pricing.  We action beneath installations and demobilizations in 2020, which are accustomed to lower operating costs, as compared to 2019.  We apprehend EBITDA margins to boilerplate about 30% for the abounding year.

“We apprehend Subsea Articles articulation achievement to improve, as a aftereffect of added throughput and bigger assimilation of anchored costs aural our bogus articles business unit, as able-bodied as college action levels and accession from our account and rental business unit.  We ahead that our operating assets margins will advance hardly and boilerplate in the mid-single chiffre ambit for the year.

“Subsea Projects operating after-effects are accustomed to advance hardly in 2020, primarily due to lower abrasion as compared to 2019.  EBITDA is accustomed to abatement abundantly in apprehension of bargain all-embracing and Gulf of Mexico barge activity. Barge dayrates abide aggressive but stable, and we apprehend to see opportunities for appraisement improvements during periods of college activity.  Similar to 2019, this articulation has the accomplished projected bulk of abstract assignment independent aural our guidance.  Asset Integrity after-effects are accustomed to advance on almost collapsed acquirement as the allowances from bulk ascendancy measures implemented in backward 2019 and aboriginal 2020 should be accomplished alpha in the additional division of 2020.

“Our 2020 Advanced Technologies after-effects are projected to access on college revenues, with operating margins accustomed to be in the high-single chiffre ambit for the year.  We apprehend a bashful advance in operating after-effects aural our government-related units and operating advance aural our bartering units on bigger beheading and accustomed action awards and progression.  We are currently ecology the appulse to advancing and advancing projects in China, due to the coronavirus situation.

“For 2020, we ahead Unallocated Costs to access to an boilerplate of $35 actor per division as we apprehend abounding accretion ante for projected short- and abiding performance-based allurement advantage expense, as compared to 2019.

“Interest expense, net of absorption income, is accustomed to be about $40 million, and we apprehend our 2020 banknote tax payments to be about $40 million.  This includes taxes incurred in countries that appoint tax on the base of in-country acquirement and buck no accord to the advantage of such operations.  At this time, we do not apprehend acumen a current-year tax account from our projected circumscribed pre-tax loss, so any altercation of an estimated able tax amount would not be meaningful.

“Our aboriginal division 2020 EBITDA is forecasted to be in the ambit of $36 actor to $42 million.  We apprehend lower melancholia action in our Subsea Projects articulation and in our account rental business aural our Subsea Articles segment.  Advanced Technologies operating after-effects are accustomed to be about collapsed on hardly lower revenues.

“Capital conduct continues to be of absolute accent and we apprehend to accomplish cogent absolute chargeless banknote breeze in 2020.  We apprehend our amoebic basic expenditures to absolute amid $75 million and $105 million.  This includes about $40 million to $50 million of aliment basic expenditures and $35 actor to $55 actor of advance basic expenditures, including about $5 actor of aftereffect from 2019.  We abide committed to advancement able clamminess and accept that our banknote position, $500 actor undrawn revolving acclaim adeptness and debt adeptness contour should accommodate us abounding assets and time to abode approaching opportunities to advance our returns.”

This absolution contains “forward-looking statements” as authentic in the Private Securities Litigation Reform Act of 1995, including, after limitation, statements as to the expectations, beliefs, approaching accustomed business and banking achievement and affairs of Oceaneering.  Added specifically, the advanced statements in this columnist absolution accommodate the statements about: our backlog, to the admeasurement excess may be an indicator of approaching acquirement or profitability; industry conditions; our banking after-effects angle for the abounding year and aboriginal division of 2020, including advancing operating income, operating results, EBITDA, EBITDA contributions and EBITDA margins from anniversary of our operating segments, and the associated explanations; the apprehension and timing of the allowances from bulk ascendancy measures in Asset Integrity implemented in backward 2019 and aboriginal 2020; the appulse to advancing and advancing projects in China, due to the coronavirus situation; our projected circumscribed pre-tax operating loss; appeal and action levels in our business units; advancing abounding year and anniversary Unallocated Expenses; our expectations about absorption amount and the associated explanations; our accustomed assets tax payments; our expectations apropos a current-year tax account on our projected circumscribed pre-tax operating loss; our forecasted aboriginal division operating after-effects from our segments and the associated comparisons and explanations; our apprehension about the abounding year 2020 chargeless banknote flow; our accustomed 2020 basic expenditures; our acceptance that our able banknote position, revolving acclaim adeptness and debt adeptness contour accommodate us with abounding assets and time to abode approaching opportunities to advance our returns.

The advanced statements included in this absolution are based on our accustomed expectations and are accountable to assertive risks, assumptions, trends and uncertainties that could account absolute after-effects to alter materially from those adumbrated by the advanced statements.  Among the factors that could account absolute after-effects to alter materially include: factors affecting the akin of action in the oil and gas industry, including common appeal for and prices of oil and accustomed gas, oil and accustomed gas assembly advance and the accumulation and appeal of adopted conduct rigs; decisions about adopted developments to be fabricated by oil and gas exploration, development and assembly companies; the use of subsea completions and our adeptness to abduction associated bazaar share; accustomed bread-and-butter and business altitude and industry trends; the backbone of the industry segments in which we are involved; cancellations of contracts, change orders and added acknowledged modifications and the constant adjustments to our backlog; collections from our customers; our approaching banking performance, including as a aftereffect of the availability, agreement and deployment of capital; the after-effects of cogent changes in bill barter rates; the animation and uncertainties of acclaim markets; changes in tax laws, regulations and estimation by demanding authorities; changes in, or our adeptness to accede with, added laws and authoritative regulations, including those apropos to the environment; the connected availability of able personnel; our adeptness to access raw abstracts and genitalia on a appropriate base and, in some cases, from bound sources; operating risks commonly adventure to adopted exploration, development and assembly operations; hurricanes and added adverse acclimate and sea conditions; bulk and time associated with drydocking of our vessels; the awful aggressive attributes of our businesses; adverse outcomes from acknowledged or authoritative proceedings; the risks associated with amalgam businesses we acquire; accelerated abstruse changes; and social, political, aggressive and bread-and-butter situations in adopted countries area we do business and the possibilities of civilian disturbances, war, added armed conflicts or agitator attacks.  For a added complete altercation of these and added accident factors, amuse see Oceaneering’s latest anniversary address on Form 10-K and consecutive anniversary letters on Form 10Q filed with the Securities and Barter Commission.  You should not abode disproportionate assurance on advanced statements. Except to the admeasurement appropriate by applicative law, Oceaneering undertakes no obligation to amend or alter any advanced statement.

Oceaneering is a all-around provider of engineered casework and products, primarily to the adopted action industry.  Through the use of its activated technology expertise, Oceaneering additionally serves the defense, entertainment, and aerospace industries.

For added advice on Oceaneering, amuse appointment www.oceaneering.com.

Contact:Mark PetersonVice President, Corporate Development and Investor RelationsOceaneering International, [email protected]

OCEANEERING INTERNATIONAL, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

Dec 31, 2019

Dec 31, 2018

(in thousands)

ASSETS

Current assets (including banknote and banknote equivalents of $373,655 and $354,259)

$

1,244,436

$

1,244,889

Net acreage and equipment

776,532

964,670

Other assets

719,695

615,439

Total Assets

$

2,740,663

$

2,824,998

LIABILITIES AND EQUITY

Current liabilities

$

600,956

$

494,741

Long-term debt

796,516

786,580

Other abiding liabilities

267,782

128,379

Equity

1,075,409

1,415,298

Total Liabilities and Equity

$

2,740,663

$

2,824,998

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

For the Three Months Ended

For the Year Ended

Dec 31, 2019

Dec 31, 2018

Sep 30, 2019

Dec 31, 2019

Dec 31, 2018

(in thousands, except per allotment amounts)

Revenue

$

560,810

$

495,095

$

497,647

$

2,048,124

$

1,909,482

Cost of casework and products

581,197

462,060

448,586

1,949,880

1,780,256

Gross margin

(20,387)

33,035

49,061

98,244

129,226

Selling, accustomed and authoritative expense

59,717

53,730

54,255

214,891

198,259

Long-lived assets impairments

159,353

159,353

Goodwill impairment

14,713

76,449

14,713

76,449

Income (loss) from operations

(254,170)

(97,144)

(5,194)

(290,713)

(145,482)

Interest income

1,352

1,775

2,089

7,893

9,962

Interest expense, net of amounts capitalized

(11,706)

(9,684)

(11,382)

(42,711)

(37,742)

Equity in assets (losses) of unconsolidated affiliates

941

(519)

554

1,331

(3,783)

Other assets (expense), net

(3,687)

(2,390)

(3,660)

(6,621)

(8,788)

Income (loss) afore assets taxes

(267,270)

(107,962)

(17,593)

(330,821)

(185,833)

Provision (benefit) for assets taxes

(4,358)

(43,823)

7,930

17,623

26,494

Net Assets (Loss)

$

(262,912)

$

(64,139)

$

(25,523)

$

(348,444)

$

(212,327)

Weighted boilerplate adulterated shares outstanding

98,930

98,534

98,930

98,876

98,496

Diluted balance (loss) per share

$

(2.66)

$

(0.65)

$

(0.26)

$

(3.52)

$

(2.16)

The aloft Condensed Circumscribed Balance Sheets and Condensed Circumscribed Statements of Operations should be apprehend in affiliation with the Company’s latest Anniversary Address on Form 10-K and Anniversary Address on Form 10-Q.

 

SEGMENT INFORMATION

For the Three Months Ended

For the Year Ended

Dec 31, 2019

Dec 31, 2018

Sep 30, 2019

Dec 31, 2019

Dec 31, 2018

($ in thousands)

Remotely Operated Vehicles

Revenue

$

116,020

$

96,736

$

113,101

$

449,830

$

394,801

Gross margin

$

(7,728)

$

6,764

$

18,908

$

37,961

$

32,652

Operating assets (loss)

$

(18,660)

$

(1,275)

$

10,145

$

1,591

$

1,641

Operating assets (loss) %

(16)

%

(1)

%

9

%

%

%

Days available

25,576

25,272

25,392

100,480

101,464

Days utilized

14,836

13,147

15,146

58,347

52,084

Utilization

58

%

52

%

60

%

58

%

51

%

Subsea Products

Revenue

$

183,659

$

129,509

$

150,836

$

602,249

$

515,000

Gross margin

$

4,527

$

10,156

$

28,030

$

65,901

$

59,984

Operating assets (loss)

$

(10,325)

$

(3,803)

$

13,219

$

9,831

$

5,614

Operating assets (loss) %

(6)

%

(3)

%

9

%

2

%

1

%

Backlog at end of period

$

630,000

$

332,000

$

609,000

$

630,000

$

332,000

Subsea Projects

Revenue

$

86,728

$

89,295

$

75,996

$

327,556

$

329,163

Gross margin

$

1,546

$

2,795

$

5,213

$

21,264

$

9,596

Operating assets (loss)

$

(148,075)

$

(79,379)

$

(616)

$

(145,712)

$

(86,008)

Operating assets (loss) %

(171)

%

(89)

%

(1)

%

(44)

%

(26)

%

Asset Integrity

Revenue

$

61,835

$

62,830

$

59,274

$

242,954

$

253,886

Gross margin

$

(6,867)

$

8,086

$

5,273

$

11,101

$

34,995

Operating assets (loss)

$

(48,919)

$

1,349

$

(2,453)

$

(53,387)

$

8,660

Operating assets (loss) %

(79)

%

2

%

(4)

%

(22)

%

3

%

Advanced Technologies

Revenue

$

112,568

$

116,725

$

98,440

$

425,535

$

416,632

Gross margin

$

12,354

$

22,314

$

9,413

$

50,401

$

58,959

Operating assets (loss)

$

5,270

$

15,406

$

2,958

$

25,068

$

33,920

Operating assets (loss) %

5

%

13

%

3

%

6

%

8

%

Unallocated Expenses

Gross margin

$

(24,219)

$

(17,080)

$

(17,776)

$

(88,384)

$

(66,960)

Operating assets (loss)

$

(33,461)

$

(29,442)

$

(28,447)

$

(128,104)

$

(109,309)

Total

Revenue

$

560,810

$

495,095

$

497,647

$

2,048,124

$

1,909,482

Gross margin

$

(20,387)

$

33,035

$

49,061

$

98,244

$

129,226

Operating assets (loss)

$

(254,170)

$

(97,144)

$

(5,194)

$

(290,713)

$

(145,482)

Operating assets (loss) %

(45)

%

(20)

%

(1)

%

(14)

%

(8)

%

The aloft Articulation Advice does not accommodate adjustments for non-recurring transactions. See the tables in our Reconciliations of Non-GAAP to GAAP Banking Advice area for banking measures that administration considers adumbrative of our advancing operations.

 

SELECTED CASH FLOW INFORMATION

For the Three Months Ended

For the Year Ended

Dec 31, 2019

Dec 31, 2018

Sep 30, 2019

Dec 31, 2019

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Dec 31, 2018

(in thousands)

Capital Expenditures, including Acquisitions

$

18,837

$

25,721

$

57,985

$

147,684

$

178,038

Depreciation and amortization:

Energy Casework and Products

Remotely Operated Vehicles

$

32,043

$

27,972

$

26,767

$

113,671

$

111,311

Subsea Products

30,992

11,797

12,055

68,404

53,085

Subsea Projects

14,541

85,651

8,130

38,103

114,481

Asset Integrity

30,529

1,585

1,634

35,367

6,904

Total Action Casework and Products

108,105

127,005

48,586

255,545

285,781

Advanced Technologies

766

786

761

3,122

3,081

Unallocated Expenses

1,199

1,125

1,220

4,760

4,728

Total Abrasion and Amortization

$

110,070

$

128,916

$

50,567

$

263,427

$

293,590

RECONCILIATIONS OF NON-GAAP TO GAAP FINANCIAL INFORMATION

In accession to banking after-effects bent in accordance with U.S. about accustomed accounting attempt (“GAAP”), this Columnist Absolution additionally includes non-GAAP banking measures (as authentic beneath SEC Regulation G).  We accept included Adapted Net Assets (Loss) and Adulterated Balance (Loss) per Share, anniversary of which excludes the furnishings of assertive defined items, as set alternating in the tables that follow.  As a result, these amounts are non-GAAP banking measures.  We accept these are advantageous measures for investors to analysis because they accommodate constant measures of the basal after-effects of our advancing business.  Furthermore, our administration uses these measures as measures of the achievement of our operations.  We accept additionally included disclosures of Balance Afore Interest, Taxes, Abrasion and Acquittal (EBITDA), EBITDA Margins, 2020 EBITDA Estimates and Chargeless Banknote Flow, as able-bodied as the afterward by segment:  Adapted Operating Assets and Margins, EBITDA, EBITDA Margins, Adapted EBITDA and Adapted EBITDA Margins.  We ascertain EBITDA Allowance as EBITDA disconnected by revenue.  Adapted EBITDA and Adapted EBITDA Margins as able-bodied as Adapted Operating Assets and Allowance and accompanying advice by articulation exclude the furnishings of assertive defined items, as set alternating in the tables that follow.  EBITDA and EBITDA Margins, Adapted EBITDA and Adapted EBITDA Margins, and Adapted Operating Assets and Allowance and accompanying advice by articulation are anniversary non-GAAP banking measures.  We ascertain Chargeless Banknote Breeze as banknote breeze provided by operating activities beneath amoebic basic expenditures (i.e., purchases of acreage and accessories added than those in business acquisitions).  We accept included these disclosures in this columnist absolution because EBITDA, EBITDA Margins and Chargeless Banknote Breeze are broadly acclimated by investors for appraisal and comparing our banking achievement with the achievement of added companies in our industry, and the adapted amounts thereof (as able-bodied as Adapted Operating Assets and Allowance by Segment) accommodate added constant measures than the unadjusted amounts.  Furthermore, our administration uses these measures for purposes of evaluating our banking performance.  Our presentation of EBITDA, EBITDA Margins and Chargeless Banknote Breeze (and the Adapted amounts thereof) may not be commensurable to analogously blue-blooded measures added companies report.  Non-GAAP banking measures should be beheld in accession to and not as substitutes for our appear operating results, banknote flows or any added admeasurement able and appear in accordance with GAAP.  The tables that chase accommodate reconciliations of the non-GAAP measures acclimated in this columnist absolution to the best anon commensurable GAAP measures.

RECONCILIATIONS OF NON-GAAP TO GAAP FINANCIAL INFORMATION

Adjusted Net Assets (Loss) and Adulterated Balance (Loss) per Allotment (EPS)

For the Three Months Ended

Dec 31, 2019

Dec 31, 2018

Sep 30, 2019

Net Assets (Loss)

Diluted EPS

Net Assets (Loss)

Diluted EPS

Net Assets (Loss)

Diluted EPS

(in thousands, except per allotment amounts)

Net assets (loss) and adulterated EPS as appear in accordance with GAAP

$

(262,912)

$

(2.66)

$

(64,139)

$

(0.65)

$

(25,523)

$

(0.26)

Pre-tax adjustments for the furnishings of:

Long-lived assets impairments

159,353

Long-lived assets write-offs

44,653

Inventory write-downs

21,285

Goodwill impairment

14,713

76,449

Restructuring costs and other

11,751

Foreign bill (gains) losses

3,477

2,559

3,516

Total pre-tax adjustments

255,232

79,008

3,516

Tax aftereffect on pre-tax adjustments at the applicative authoritative approved amount in aftereffect for corresponding periods

(50,653)

(11,914)

(738)

Discrete tax items:

    Share-based compensation

2

    Uncertain tax positions

1,276

7,811

(520)

    Tax reform

272

560

(8,492)

    Appraisal allowances

59,667

(3,784)

(32)

    Other

(356)

(241)

2,079

Total detached tax adjustments

60,861

4,346

(6,965)

Total of adjustments

265,440

71,440

(4,187)

Adjusted Net Assets (Loss)

$

2,528

$

0.03

$

7,301

$

0.07

$

(29,710)

$

(0.30)

Weighted boilerplate adulterated shares outstanding activated for Adapted Net Assets (Loss)

99,721

99,331

98,930

For the Year Ended

Dec 31, 2019

Dec 31, 2018

Net Assets (Loss)

Diluted EPS

Net Assets (Loss)

Diluted EPS

(in thousands, except per allotment amounts)

Net assets (loss) and adulterated EPS as appear in accordance with GAAP

$

(348,444)

$

(3.52)

$

(212,327)

$

(2.16)

Pre-tax adjustments for the furnishings of:

Long-lived assets impairments

159,353

Long-lived assets write-offs

44,653

7,691

Inventory write-downs

21,285

Goodwill impairment

14,713

76,449

Restructuring costs and other

11,751

Gain on auction of investment

(9,293)

Foreign bill (gains) losses

6,320

18,037

Total pre-tax adjustments

258,075

92,884

Tax aftereffect on pre-tax adjustments at the applicative authoritative approved amount in aftereffect for corresponding periods

(51,250)

(14,668)

Discrete tax items:

    Share-based compensation

989

    Uncertain tax positions

3,046

12,644

    Tax reform

(8,220)

8,492

    Appraisal allowances

61,174

35,352

    Other

2,018

7,930

Total detached tax adjustments

59,007

64,418

Total of adjustments

265,832

142,634

Adjusted Net Assets (Loss)

$

(82,612)

$

(0.84)

$

(69,693)

$

(0.71)

Weighted boilerplate adulterated shares outstanding activated for Adapted Net Assets (Loss)

98,876

98,496

 

EBITDA and Adapted EBITDA and Margins

For the Three Months Ended

For the Year Ended

Dec 31, 2019

Dec 31, 2018

Sep 30, 2019

Dec 31, 2019

Dec 31, 2018

($ in thousands)

Net assets (loss)

$

(262,912)

$

(64,139)

$

(25,523)

$

(348,444)

$

(212,327)

Depreciation and amortization

110,070

128,916

50,567

263,427

293,590

Subtotal

(152,842)

64,777

25,044

(85,017)

81,263

Interest expense, net of absorption income

10,354

7,909

9,293

34,818

27,780

Amortization included in absorption expense

(335)

(333)

(335)

(1,345)

(1,772)

Provision (benefit) for assets taxes

(4,358)

(43,823)

7,930

17,623

26,494

EBITDA

(147,181)

28,530

41,932

(33,921)

133,765

Adjustments for the furnishings of:

Long-lived assets impairments

159,353

159,353

Inventory write-downs

21,285

21,285

Restructuring costs and other

11,751

11,751

Gain on auction of investment

(9,293)

Foreign bill (gains) losses

3,477

2,559

3,516

6,320

18,037

Total of adjustments

195,866

2,559

3,516

198,709

8,744

Adjusted EBITDA

$

48,685

$

31,089

$

45,448

$

164,788

$

142,509

Revenue

$

560,810

$

495,095

$

497,647

$

2,048,124

$

1,909,482

EBITDA allowance %

(26)

%

6

%

8

%

(2)

%

7

%

Adjusted EBITDA allowance %

9

%

6

%

9

%

8

%

7

%

 

Free Banknote Flow

For the Year Ended

Dec 31, 2019

Dec 31, 2018

(in thousands)

Net Assets (loss)

$

(348,444)

$

(212,327)

Non-cash adjustments:

Depreciation and amortization, including amicableness impairment

263,427

293,590

Long-lived assets impairments

159,353

Other non-cash

16,436

15,317

Other increases (decreases) in banknote from operating activities

66,797

(60,013)

Cash breeze provided by operating activities

157,569

36,567

Purchases of acreage and equipment

(147,684)

(109,467)

Free Banknote Flow

$

9,885

$

(72,900)

2020 EBITDA Estimates

For the Year Ended

December 31, 2020

Low

High

(in thousands)

Income (loss) afore assets taxes

$

(40,000)

$

Depreciation and amortization

180,000

180,000

Subtotal

140,000

180,000

Interest expense, net of absorption income

40,000

40,000

EBITDA

$

180,000

$

220,000

For the Three Months Ended

March 31, 2020

Low

High

(in thousands)

Income (loss) afore assets taxes

$

(19,000)

$

(13,000)

Depreciation and amortization

45,000

45,000

Subtotal

26,000

32,000

Interest expense, net of absorption income

10,000

10,000

EBITDA

$

36,000

$

42,000

 

Adjusted Operating Assets (Loss) and Margins by Segment

For the Three Months Concluded December 31, 2019

Remotely Operated Vehicles

Subsea Products

Subsea Projects

Asset Integrity

Advanced Tech.

Unallocated Expenses

Total

($ in thousands)

Operating Assets (Loss) as appear in accordance with GAAP

$

(18,660)

$

(10,325)

$

(148,075)

$

(48,919)

$

5,270

$

(33,461)

$

(254,170)

Adjustments for the furnishings of:

Long-lived assets impairments

142,615

16,738

159,353

Long-lived assets write-offs

5,697

18,757

6,091

14,108

44,653

Inventory write-downs

15,343

3,567

1,586

789

21,285

Goodwill impairment

14,713

14,713

Restructuring costs and other

2,297

2,650

2,851

3,082

815

56

11,751

Total of adjustments

23,337

24,974

153,143

48,641

1,604

56

251,755

Adjusted Operating Assets (Loss)

$

4,677

$

14,649

$

5,068

$

(278)

$

6,874

$

(33,405)

$

(2,415)

Revenue

$

116,020

$

183,659

$

86,728

$

61,835

$

112,568

$

560,810

Operating assets (loss) % as appear in accordance with GAAP

(16)

%

(6)

%

(171)

%

(79)

%

5

%

(45)

%

Operating assets (loss)% application adapted amounts

4

%

8

%

6

%

%

6

%

%

For the Three Months Concluded December 31, 2018

Remotely Operated Vehicles

Subsea Products

Subsea Projects

Asset Integrity

Advanced Tech.

Unallocated Expenses

Total

($ in thousands)

Operating Assets (Loss) as appear in accordance with GAAP

$

(1,275)

$

(3,803)

$

(79,379)

$

1,349

$

15,406

$

(29,442)

$

(97,144)

Adjustments for the furnishings of:

Goodwill impairment

76,449

76,449

Total of adjustments

76,449

76,449

Adjusted Operating Assets (Loss)

$

(1,275)

$

(3,803)

$

(2,930)

$

1,349

$

15,406

$

(29,442)

$

(20,695)

Revenue

$

96,736

$

129,509

$

89,295

$

62,830

$

116,725

$

495,095

Operating assets (loss) % as appear in accordance with GAAP

(1)

%

(3)

%

(89)

%

2

%

13

%

(20)

%

Operating assets (loss)% application adapted amounts

(1)

%

(3)

%

(3)

%

2

%

13

%

(4)

%

For the Three Months Concluded September 30, 2019

Remotely Operated Vehicles

Subsea Products

Subsea Projects

Asset Integrity

Advanced Tech.

Unallocated Expenses

Total

($ in thousands)

Operating Assets (Loss) as appear in accordance with GAAP

$

10,145

$

13,219

$

(616)

$

(2,453)

$

2,958

$

(28,447)

$

(5,194)

Adjusted Operating Assets (Loss)

$

10,145

$

13,219

$

(616)

$

(2,453)

$

2,958

$

(28,447)

$

(5,194)

Revenue

$

113,101

$

150,836

$

75,996

$

59,274

$

98,440

$

497,647

Operating assets (loss) % as appear in accordance with GAAP

9

%

9

%

(1)

%

(4)

%

3

%

(1)

%

Operating assets (loss) % application adapted amounts

9

%

9

%

(1)

%

(4)

%

3

%

(1)

%

For the Year Concluded December 31, 2019

Remotely Operated Vehicles

Subsea Products

Subsea Projects

Asset Integrity

Advanced Tech.

Unallocated Expenses

Total

($ in thousands)

Operating Assets (Loss) as appear in accordance with GAAP

$

1,591

$

9,831

$

(145,712)

$

(53,387)

$

25,068

$

(128,104)

$

(290,713)

Adjustments for the furnishings of:

Long-lived assets impairments

142,615

16,738

159,353

Long-lived assets write-offs

5,697

18,757

6,091

14,108

44,653

Inventory write-downs

15,343

3,567

1,586

789

21,285

Goodwill impairment

14,713

14,713

Restructuring costs and other

2,297

2,650

2,851

3,082

815

56

11,751

Total of adjustments

23,337

24,974

153,143

48,641

1,604

56

251,755

Adjusted Operating Assets (Loss)

$

24,928

$

34,805

$

7,431

$

(4,746)

$

26,672

$

(128,048)

$

(38,958)

Revenue

$

449,830

$

602,249

$

327,556

$

242,954

$

425,535

$

2,048,124

Operating assets (loss) % as appear in accordance with GAAP

%

2

%

(44)

%

(22)

%

6

%

(14)

%

Operating assets (loss) % application adapted amounts

6

%

6

%

2

%

(2)

%

6

%

(2)

%

For the Year Concluded December 31, 2018

Remotely Operated Vehicles

Subsea Products

Subsea Projects

Asset Integrity

Advanced Tech.

Unallocated Expenses

Total

($ in thousands)

Operating Assets (Loss) as appear in accordance with GAAP

$

1,641

$

5,614

$

(86,008)

$

8,660

$

33,920

$

(109,309)

$

(145,482)

Adjustments for the furnishings of:

Goodwill impairment

76,449

76,449

Long-lived assets write-offs

617

1,531

5,543

7,691

Total of adjustments

617

1,531

81,992

84,140

Adjusted Operating Assets (Loss)

$

2,258

$

7,145

$

(4,016)

$

8,660

$

33,920

$

(109,309)

$

(61,342)

Revenue

$

394,801

$

515,000

$

329,163

$

253,886

$

416,632

$

1,909,482

Operating assets (loss) % as appear in accordance with GAAP

%

1

%

(26)

%

3

%

8

%

(8)

%

Operating assets (loss) % application adapted amounts

1

%

1

%

(1)

%

3

%

8

%

(3)

%

 

EBITDA and Adapted EBITDA and Margins by Segment

For the Three Months Concluded December 31, 2019

Remotely Operated Vehicles

Subsea Products

Subsea Projects

Asset Integrity

Advanced Tech.

Unallocated Costs and other

Total

($ in thousands)

Operating Assets (Loss) as appear in accordance with GAAP

$

(18,660)

$

(10,325)

$

(148,075)

$

(48,919)

$

5,270

$

(33,461)

$

(254,170)

Adjustments for the furnishings of:

Depreciation and amortization

32,043

30,992

14,541

30,529

766

1,199

110,070

Other pre-tax

(3,081)

(3,081)

EBITDA

13,383

20,667

(133,534)

(18,390)

6,036

(35,343)

(147,181)

Adjustments for the furnishings of:

Long-lived assets impairments

142,615

16,738

159,353

Inventory write-downs

15,343

3,567

1,586

789

21,285

Restructuring costs and other

2,297

2,650

2,851

3,082

815

56

11,751

Foreign bill (gains) losses

3,477

3,477

Total of adjustments

17,640

6,217

147,052

19,820

1,604

3,533

195,866

Adjusted EBITDA

$

31,023

$

26,884

$

13,518

$

1,430

$

7,640

$

(31,810)

$

48,685

Revenue

$

116,020

$

183,659

$

86,728

$

61,835

$

112,568

$

560,810

Operating assets (loss) % as appear in accordance with GAAP

(16)

%

(6)

%

(171)

%

(79)

%

5

%

(45)

%

EBITDA Margin

12

%

11

%

(154)

%

(30)

%

5

%

(26)

%

Adjusted EBITDA Margin

27

%

15

%

16

%

2

%

7

%

9

%

For the Three Months Concluded December 31, 2018

Remotely Operated Vehicles

Subsea Products

Subsea Projects

Asset Integrity

Advanced Tech.

Unallocated Costs and other

Total

($ in thousands)

Operating Assets (Loss) as appear in accordance with GAAP

$

(1,275)

$

(3,803)

$

(79,379)

$

1,349

$

15,406

$

(29,442)

$

(97,144)

Adjustments for the furnishings of:

Depreciation and amortization

27,972

11,797

85,651

1,585

786

1,125

128,916

Other pre-tax

(3,242)

(3,242)

EBITDA

26,697

7,994

6,272

2,934

16,192

(31,559)

28,530

Adjustments for the furnishings of:

Foreign bill (gains) losses

2,559

2,559

Total of adjustments

2,559

2,559

Adjusted EBITDA

$

26,697

$

7,994

$

6,272

$

2,934

$

16,192

$

(29,000)

$

31,089

Revenue

$

96,736

$

129,509

$

89,295

$

62,830

$

116,725

$

495,095

Operating assets (loss) % as appear in accordance with GAAP

(1)

%

(3)

%

(89)

%

2

%

13

%

(20)

%

EBITDA Margin

28

%

6

%

7

%

5

%

14

%

6

%

Adjusted EBITDA Margin

28

%

6

%

7

%

5

%

14

%

6

%

For the Three Months Concluded September 30, 2019

Remotely Operated Vehicles

Subsea Products

Subsea Projects

Asset Integrity

Advanced Tech.

Unallocated Costs and other

Total

($ in thousands)

Operating Assets (Loss) as appear in accordance with GAAP

$

10,145

$

13,219

$

(616)

$

(2,453)

$

2,958

$

(28,447)

$

(5,194)

Adjustments for the furnishings of:

Depreciation and amortization

26,767

12,055

8,130

1,634

761

1,220

50,567

Other pre-tax

(3,441)

(3,441)

EBITDA

36,912

25,274

7,514

(819)

3,719

(30,668)

41,932

Adjustments for the furnishings of:

Foreign bill (gains) losses

3,516

3,516

Total of adjustments

3,516

3,516

Adjusted EBITDA

$

36,912

$

25,274

$

7,514

$

(819)

$

3,719

$

(27,152)

$

45,448

Revenue

$

113,101

$

150,836

$

75,996

$

59,274

$

98,440

$

497,647

Operating assets (loss) % as appear in accordance with GAAP

9

%

9

%

(1)

%

(4)

%

3

%

(1)

%

EBITDA Margin

33

%

17

%

10

%

(1)

%

4

%

8

%

Adjusted EBITDA Margin

33

%

17

%

10

%

(1)

%

4

%

9

%

For the Year Concluded December 31, 2019

Remotely Operated Vehicles

Subsea Products

Subsea Projects

Asset Integrity

Advanced Tech.

Unallocated Costs and other

Total

($ in thousands)

Operating Assets (Loss) as appear in accordance with GAAP

$

1,591

$

9,831

$

(145,712)

$

(53,387)

$

25,068

$

(128,104)

$

(290,713)

Adjustments for the furnishings of:

Depreciation and amortization

113,671

68,404

38,103

35,367

3,122

4,760

263,427

Other pre-tax

(6,635)

(6,635)

EBITDA

115,262

78,235

(107,609)

(18,020)

28,190

(129,979)

(33,921)

Adjustments for the furnishings of:

Long-lived assets impairments

142,615

16,738

159,353

Inventory write-downs

15,343

3,567

1,586

789

21,285

Restructuring costs and other

2,297

2,650

2,851

3,082

815

56

11,751

Foreign bill (gains) losses

6,320

6,320

Total of adjustments

17,640

6,217

147,052

19,820

1,604

6,376

198,709

Adjusted EBITDA

$

132,902

$

84,452

$

39,443

$

1,800

$

29,794

$

(123,603)

$

164,788

Revenue

$

449,830

$

602,249

$

327,556

$

242,954

$

425,535

$

2,048,124

Operating assets (loss) % as appear in accordance with GAAP

%

2

%

(44)

%

(22)

%

6

%

(14)

%

EBITDA Margin

26

%

13

%

(33)

%

(7)

%

7

%

(2)

%

Adjusted EBITDA Margin

30

%

14

%

12

%

1

%

7

%

8

%

For the Year Concluded December 31, 2018

Remotely Operated Vehicles

Subsea Products

Subsea Projects

Asset Integrity

Advanced Tech.

Unallocated Costs and other

Total

($ in thousands)

Operating Assets (Loss) as appear in accordance with GAAP

$

1,641

$

5,614

$

(86,008)

$

8,660

$

33,920

$

(109,309)

$

(145,482)

Adjustments for the furnishings of:

Depreciation and amortization

111,311

53,085

114,481

6,904

3,081

4,728

293,590

Other pre-tax

(14,343)

(14,343)

EBITDA

112,952

58,699

28,473

15,564

37,001

(118,924)

133,765

Adjustments for the furnishings of:

Gain on auction of investment

(9,293)

(9,293)

Foreign bill (gains) losses

18,037

18,037

Total of adjustments

8,744

8,744

Adjusted EBITDA

$

112,952

$

58,699

$

28,473

$

15,564

$

37,001

$

(110,180)

$

142,509

Revenue

$

394,801

$

515,000

$

329,163

$

253,886

$

416,632

$

1,909,482

Operating assets (loss) % as appear in accordance with GAAP

%

1

%

(26)

%

3

%

8

%

(8)

%

EBITDA Margin

29

%

11

%

9

%

6

%

9

%

7

%

Adjusted EBITDA Margin

29

%

11

%

9

%

6

%

9

%

7

%

 

Appearance aboriginal content:http://www.prnewswire.com/news-releases/oceaneering-reports-fourth-quarter-and-full-year-2019-results-301010070.html

SOURCE Oceaneering International, Inc.

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‘, ‘Empfohlen von CAPITAL, Welt am Sonntag und extraETF: Keine Lust mehr auf Niedrig- oder Negativzinsen? Mit einer

können Sie günstig an den Kapitalmärkten partizipieren. Profitieren Sie von einer professionellen Vermögensverwaltung und bauen Sie langfristig ein Vermögen auf. OSKAR – ETF-Anlage für Sie und Ihre Familie.

macht den Einstieg in die Krypto-Welt so einfach, acute und zuverlässig wie möglich. Kein Wallet, kein Depot und kein Papierkram – für das Kaufen und Verkaufen von Kryptowährungen braucht man nur die BISON App, powered by Börse Stuttgart.

‘, ‘Jetzt Bitcoin & Co mit der App der Börse Stuttgart Tochter zuverlässig handeln. Komplizierte Prozesse beim Kauf von Kryptowährungen übernimmt ab jetzt die

. Mit dabei: Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) und Ripple (XRP). Kein Wallet, kein Depot und kein Papierkram – für das Kaufen und Verkaufen von Kryptowährungen braucht man nur die BISON App.

‘, ‘Sie suchen einen Index, der den DAX klar geschlagen hat? Dann informieren Sie sich jetzt über den

Hinweis: Historische Renditen sind keine Garantie für die Zukunft. Bitte beachten Sie die Risiko­faktoren des Zertifikats (u.a. Ausfall- und Kursrisiko) in den prospekt­rechtlichen Dokumenten der Lang & Schwarz Aktien­gesellschaft auf www.ls-tc.de.’];if (newsContentadHeadlines.length === newsContentadTexts.length) {var newsContentadRandomnumber = Math.floor(Math.random() * (newsContentadHeadlines.length));$(‘#news-contentads’).html(‘

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