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Document and Entity Information
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9 Months Ended | |
|---|---|---|
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Sep. 30, 2012
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Oct. 31, 2012
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| Document Type | 10-Q | |
| Amendment Flag | false | |
| Document Period End Date | Sep. 30, 2012 | |
| Document Fiscal Year Focus | 2012 | |
| Document Fiscal Period Focus | Q3 | |
| Trading Symbol | HOS | |
| Entity Registrant Name | HORNBECK OFFSHORE SERVICES INC /LA | |
| Entity Central Index Key | 0001131227 | |
| Current Fiscal Year End Date | --12-31 | |
| Entity Filer Category | Large Accelerated Filer | |
| Entity Common Stock, Shares Outstanding | 35,408,222 |
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- Definition
If the value is true, then the document is an amendment to previously-filed/accepted document. No definition available.
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- Definition
End date of current fiscal year in the format --MM-DD. No definition available.
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- Definition
This is focus fiscal period of the document report. For a first quarter 2006 quarterly report, which may also provide financial information from prior periods, the first fiscal quarter should be given as the fiscal period focus. Values: FY, Q1, Q2, Q3, Q4, H1, H2, M9, T1, T2, T3, M8, CY. No definition available.
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- Definition
This is focus fiscal year of the document report in CCYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006. No definition available.
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- Definition
The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented. If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD. No definition available.
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- Definition
The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word "Other". No definition available.
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- Definition
A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Indicate number of shares or other units outstanding of each of registrant's classes of capital or common stock or other ownership interests, if and as stated on cover of related periodic report. Where multiple classes or units exist define each class/interest by adding class of stock items such as Common Class A [Member], Common Class B [Member] or Partnership Interest [Member] onto the Instrument [Domain] of the Entity Listings, Instrument. No definition available.
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- Definition
Indicate whether the registrant is one of the following: (1) Large Accelerated Filer, (2) Accelerated Filer, (3) Non-accelerated Filer, (4) Smaller Reporting Company (Non-accelerated) or (5) Smaller Reporting Accelerated Filer. Definitions of these categories are stated in Rule 12b-2 of the Exchange Act. This information should be based on the registrant's current or most recent filing containing the related disclosure. No definition available.
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- Definition
The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Trading symbol of an instrument as listed on an exchange. No definition available.
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| X | ||||||||||
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- Definition
Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for goods or services (including trade receivables) that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- 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. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Excess of issue price over par or stated value of the entity's capital stock and amounts received from other transactions involving the entity's stock or stockholders. Includes adjustments to additional paid in capital. Some examples of such adjustments include recording the issuance of debt with a beneficial conversion feature and certain tax consequences of equity instruments awarded to employees. Use this element for the aggregate amount of additional paid-in capital associated with common and preferred stock. For additional paid-in capital associated with only common stock, use the element additional paid in capital, common stock. For additional paid-in capital associated with only preferred stock, use the element additional paid in capital, preferred stock. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- 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. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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| X | ||||||||||
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- Definition
Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Aggregate par or stated value of issued nonredeemable common stock (or common stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable common shares, par value and other disclosure concepts are in another section within stockholders' equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Sum of the carrying amounts of deferred costs that are expected to be recognized as a charge against earnings in periods after one year or beyond the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The current portion as of the balance sheet date of the aggregate carrying amount of all future tax deductions arising from temporary differences between tax basis and generally accepted accounting principles basis recognition of assets, liabilities, revenues and expenses, which can only be deducted for tax purposes when permitted under enacted tax laws; after the valuation allowance, if any, to reduce such amount to net realizable value. Also includes the aggregate carrying amount, as of the balance sheet date, of current assets not separately disclosed in the balance sheet. Current assets are expected to be realized or consumed within one year or operating cycle, if longer. No definition available.
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| X | ||||||||||
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- Definition
The carrying amount of consideration received or receivable as of the balance sheet date on potential earnings that were not recognized as revenue in conformity with GAAP, and which are expected to be recognized as such within one year or the normal operating cycle, if longer, including sales, license fees, and royalties, but excluding interest income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of deferred tax liability attributable to taxable temporary differences, net of deferred tax asset attributable to deductible temporary differences and carryforwards net of valuation allowances expected to be realized or consumed after one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Total of the carrying values as of the balance sheet date of obligations incurred through that date and payable for obligations related to services received from employees, such as accrued salaries and bonuses, payroll taxes and fringe benefits. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Carrying value as of the balance sheet date of [accrued] interest payable on all forms of debt, including trade payables, that has been incurred and is unpaid. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Total of all Liabilities and Stockholders' Equity items (or Partners' Capital, as applicable), including the portion of equity attributable to noncontrolling interests, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
Carrying amount of long-term debt, net of unamortized discount or premium, excluding amounts to be repaid within one year or the normal operating cycle, if longer (current maturities). Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Carrying value as of the balance sheet date of obligations incurred through that date and payable arising from transactions not otherwise specified in the taxonomy. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Aggregate carrying amount, as of the balance sheet date, of current assets not separately disclosed in the balance sheet. Current assets are expected to be realized or consumed within one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Aggregate carrying amount, as of the balance sheet date, of noncurrent assets not separately disclosed in the balance sheet. Noncurrent assets are expected to be realized or consumed after one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Aggregate carrying amount, as of the balance sheet date, of noncurrent obligations not separately disclosed in the balance sheet. Noncurrent liabilities are expected to be paid after one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Aggregate par or stated value of issued nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable preferred shares, par value and other disclosure concepts are in another section within stockholders' equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount, net of accumulated depreciation, depletion and amortization, of long-lived physical assets used in the normal conduct of business and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, furniture and fixtures, and computer equipment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The cumulative amount of the reporting entity's undistributed earnings or deficit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)
In Thousands, except Per Share data, unless otherwise specified |
Sep. 30, 2012
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Dec. 31, 2011
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|---|---|---|
| Accounts receivable, allowance for doubtful accounts | $ 2,910 | $ 1,253 |
| Long-term debt, original issue discount | $ 91,893 | $ 29,352 |
| Preferred stock, par value | $ 0.01 | $ 0.01 |
| Preferred stock, shares authorized | 5,000 | 5,000 |
| Preferred stock, shares issued | ||
| Preferred stock, shares outstanding | ||
| Common stock, par value | $ 0.01 | $ 0.01 |
| Common stock, shares authorized | 100,000 | 100,000 |
| Common stock, shares issued | 35,394 | 35,013 |
| Common stock, shares outstanding | 35,394 | 35,013 |
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- Definition
A valuation allowance for trade and other receivables due to an Entity within one year (or the normal operating cycle, whichever is longer) that are expected to be uncollectible. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Face amount or stated value of common stock per share; generally not indicative of the fair market value per share. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The maximum number of common shares permitted to be issued by an entity's charter and bylaws. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Total number of common shares of an entity that have been sold or granted to shareholders (includes common shares that were issued, repurchased and remain in the treasury). These shares represent capital invested by the firm's shareholders and owners, and may be all or only a portion of the number of shares authorized. Shares issued include shares outstanding and shares held in the treasury. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Number of shares of common stock outstanding. Common stock represent the ownership interest in a corporation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The amount of debt discount that was originally recognized at the issuance of the instrument that has yet to be amortized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Face amount or stated value per share of nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer); generally not indicative of the fair market value per share. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The maximum number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) permitted to be issued by an entity's charter and bylaws. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Total number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) issued to shareholders (includes related preferred shares that were issued, repurchased, and remain in the treasury). May be all or portion of the number of preferred shares authorized. Excludes preferred shares that are classified as debt. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Aggregate share number for all nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer) held by stockholders. Does not include preferred shares that have been repurchased. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
In Thousands, except Per Share data, unless otherwise specified |
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
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Sep. 30, 2012
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Sep. 30, 2011
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Sep. 30, 2012
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Sep. 30, 2011
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| Revenues | $ 127,939 | $ 105,827 | $ 379,557 | $ 258,911 |
| Costs and expenses: | ||||
| Operating expenses | 67,159 | 62,744 | 189,824 | 152,780 |
| Depreciation | 15,124 | 15,230 | 45,377 | 45,759 |
| Amortization | 6,688 | 5,155 | 19,712 | 15,320 |
| General and administrative expenses | 12,943 | 9,045 | 36,150 | 27,406 |
| Costs and Expenses, Total | 101,914 | 92,174 | 291,063 | 241,265 |
| Gain on sale of assets | 267 | 976 | 264 | 1,535 |
| Operating income | 26,292 | 14,629 | 88,758 | 19,181 |
| Other income (expense): | ||||
| Loss on early extinguishment of debt | (6,048) | |||
| Interest income | 524 | 156 | 1,538 | 575 |
| Interest expense | (14,697) | (15,062) | (42,971) | (44,976) |
| Other income (expense), net | (5) | (19) | 324 | 58 |
| Nonoperating Income (Expense), Total | (14,178) | (14,925) | (47,157) | (44,343) |
| Income (loss) before income taxes | 12,114 | (296) | 41,601 | (25,162) |
| Income tax expense (benefit) | 4,713 | 445 | 15,879 | (8,360) |
| Net income (loss) | $ 7,401 | $ (741) | $ 25,722 | $ (16,802) |
| Basic earnings (loss) per common share | $ 0.21 | $ (0.03) | $ 0.73 | $ (0.63) |
| Diluted earnings (loss) per common share | $ 0.20 | $ (0.03) | $ 0.71 | $ (0.63) |
| Weighted average basic shares outstanding | 35,384 | 26,919 | 35,276 | 26,839 |
| Weighted average diluted shares outstanding | 36,130 | 26,919 | 36,063 | 26,839 |
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- Definition
The amount of amortization of deferred charges applied against earnings during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Total costs of sales and operating expenses for the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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| X | ||||||||||
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- Definition
The amount of expense recognized in the current period that reflects the allocation of the cost of tangible assets over the assets' useful lives. Includes production and non-production related depreciation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
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. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The gains (losses) included in earnings resulting from the sale or disposal of tangible assets. This item does not include any gain (loss) recognized on the sale of oil and gas property or timber property. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Difference between the fair value of payments made and the carrying amount of debt which is extinguished prior to maturity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Sum of operating profit and nonoperating income or expense before Income or Loss from equity method investments, income taxes, extraordinary items, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The sum of the current income tax expense or benefit and the deferred income tax expense or benefit pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The cost of borrowed funds accounted for as interest that was charged against earnings during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Income derived from investments in debt securities and on cash and cash equivalents the earnings of which reflect the time value of money or transactions in which the payments are for the use or forbearance of money. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The aggregate amount of income or expense from ancillary business-related activities (that is to say, excluding major activities considered part of the normal operations of the business). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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| X | ||||||||||
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- Definition
Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Excludes Selling, General and Administrative Expense. No definition available.
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| X | ||||||||||
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- Definition
The net result for the period of deducting operating expenses from operating revenues. No definition available.
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| X | ||||||||||
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- Definition
The net amount of other income and expense amounts, the components of which are not separately disclosed on the income statement, resulting from ancillary business-related activities (that is, excluding major activities considered part of the normal operations of the business) also known as other nonoperating income (expense) recognized for the period. Such amounts may include: (a) dividends, (b) interest on securities, (c) net gains or losses on securities, (d) unusual costs, (e) gains or losses on foreign exchange transactions, and (f) miscellaneous other income and expense items. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Aggregate revenue recognized during the period (derived from goods sold, services rendered, insurance premiums, or other activities that constitute an entity's earning process). For financial services companies, also includes investment and interest income, and sales and trading gains. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
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Sep. 30, 2012
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Sep. 30, 2011
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Sep. 30, 2012
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Sep. 30, 2011
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| Net income (loss) | $ 7,401 | $ (741) | $ 25,722 | $ (16,802) |
| Other comprehensive income, net of tax: | ||||
| Foreign currency translation gain loss | (59) | (309) | (156) | (305) |
| Total comprehensive income (loss) | $ 7,342 | $ (1,050) | $ 25,566 | $ (17,107) |
| X | ||||||||||
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- Definition
The change in equity [net assets] of a business enterprise during a period from transactions and other events and circumstances from non-owner sources which are attributable to the reporting entity. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners, but excludes any and all transactions which are directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Net of tax and reclassification adjustments of the change in the balance sheet adjustment that results from the process of translating subsidiary financial statements and foreign equity investments into the reporting currency of the reporting entity. Also includes the following: gain (loss) on foreign currency forward exchange contracts; foreign currency transactions designated as hedges of net investment in a foreign entity and intercompany foreign currency transactions that are of a long-term nature, when the entities to the transaction are consolidated, combined, or accounted for by the equity method in the reporting enterprise's financial statements; and gain (loss) on a derivative instrument or nonderivative financial instrument that may give rise to a foreign currency transaction gain (loss) that has been designated and qualified as a hedging instrument for hedging of the foreign currency exposure of a net investment in a foreign operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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| X | ||||||||||
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- Definition
Costs Incurred For Offshore Supply Vessels Newbuild Program. No definition available.
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| X | ||||||||||
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- Definition
The net change during the reporting period in other current receivables and other current assets. No definition available.
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| X | ||||||||||
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- Definition
The premium paid in connection with the early extinguishment of debt. No definition available.
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| X | ||||||||||
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- Definition
Amount of the current period expense charged against operations, the offset which is generally to the allowance for doubtful accounts for the purpose of reducing receivables, including notes receivable, to an amount that approximates their net realizable value (the amount expected to be collected), net of recoveries. No definition available.
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| X | ||||||||||
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- Definition
Purchase of convertible note hedges. No definition available.
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
The amount of amortization of deferred charges applied against earnings during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of noncash expense included in interest expense to issue debt and obtain financing associated with the related debt instruments. Alternate captions include noncash interest expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of increase (decrease) in cash and cash equivalents. Cash and cash equivalents are the amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The component of income tax expense for the period representing the increase (decrease) in the entity's deferred tax assets and liabilities pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The amount of expense recognized in the current period that reflects the allocation of the cost of tangible assets over the assets' useful lives. Includes production and non-production related depreciation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The effect of exchange rate changes on cash balances held in foreign currencies. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of excess tax benefit (tax deficiency) that arises when compensation cost from non-qualified share-based compensation recognized on the entity's tax return exceeds (is less than) compensation cost from equity-based compensation recognized in financial statements. Excess tax benefit (tax deficiency) increases (decreases) net cash provided by financing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The gains (losses) included in earnings resulting from the sale or disposal of tangible assets. This item does not include any gain (loss) recognized on the sale of oil and gas property or timber property. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Difference between the fair value of payments made and the carrying amount of debt which is extinguished prior to maturity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The amount of cash paid during the current period to foreign, federal, state, and local authorities as taxes on income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The increase (decrease) during the reporting period in the aggregate amount of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The increase (decrease) during the reporting period in amount due within one year (or one business cycle) from customers for the credit sale of goods and services. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The increase (decrease) during the reporting period in the aggregate amount of accrued expenses and other operating obligations not separately disclosed in the statement of cash flows. No definition available.
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| X | ||||||||||
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- Definition
The increase (decrease) during the reporting period in the value of expenditures made during the current reporting period for benefits that will be received over a period of years. Deferred charges differ from prepaid expenses in that they usually extend over a long period of time and may or may not be regularly recurring costs of operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The increase (decrease) during the reporting period in interest payable, which represents the amount owed to note holders, bond holders, and other parties for interest earned on loans or credit extended to the reporting entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
The amount of cash paid for interest during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The net cash inflow or outflow from financing activity for the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
|
| X | ||||||||||
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- Definition
The net cash inflow or outflow from investing activity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
The net cash from (used in) all of the entity's operating activities, including those of discontinued operations, of the reporting entity. Operating activities generally involve producing and delivering goods and providing services. Operating activity cash flows include transactions, adjustments, and changes in value that are not defined as investing or financing activities. While for technical reasons this element has no balance attribute, the default assumption is a debit balance consistent with its label. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The cash outflow for loan and debt issuance costs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The cash outflow for cost incurred directly with the issuance of an equity security. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The cash outflow for acquisition of or capital improvements of property, plant and equipment, used to produce goods or deliver services, and not otherwise defined in the taxonomy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The cash outflow associated with the acquisition of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale; includes cash outflows to pay for construction of self-constructed assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The cash inflow from the issuance of a long-term debt instrument which can be exchanged for a specified amount of another security, typically the entity's common stock, at the option of the issuer or the holder. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The cash inflow from a borrowing with the highest claim on the assets of the entity in case of bankruptcy or liquidation (with maturities initially due after one year or beyond the operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The total cash inflow associated with the amount received from holders to acquire the entity's shares under incentive and share awards, including stock option exercises. This item inherently excludes any excess tax benefit, which the entity may have realized and reported separately. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The cash inflow from issuance of rights to purchase common shares at predetermined price (usually issued together with corporate debt). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The cash inflow from the sale of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
The cash outflow for a long-term debt where the holder has highest claim on the entity's asset in case of bankruptcy or liquidation during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock or unit options, amortization of restricted stock or units, and adjustment for officers' compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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Basis of Presentation
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9 Months Ended |
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Sep. 30, 2012
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| Basis of Presentation | 1. Basis of Presentation The accompanying unaudited consolidated financial statements do not include certain information and footnote disclosures required by United States generally accepted accounting principles, or GAAP. The interim financial statements and notes are presented as permitted by instructions to the Quarterly Report on Form 10-Q and Article 10 of Regulation S-X. In the opinion of management, all adjustments necessary for a fair presentation of the interim financial statements have been included and consist only of normal recurring items. The unaudited quarterly financial statements should be read in conjunction with the audited financial statements and notes thereto included in the Annual Report on Form 10-K of Hornbeck Offshore Services, Inc. (together with its subsidiaries, the “Company”) for the year ended December 31, 2011. The results of operations for the three months ended September 30, 2012 are not necessarily indicative of the results that may be expected for the year ending December 31, 2012. Certain reclassifications have been made to prior period results to conform to current year presentation. The consolidated balance sheet at December 31, 2011 has been derived from the audited consolidated financial statements at that date but does not include all of the information and footnotes required by GAAP for complete financial statements. |
| X | ||||||||||
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- Definition
The entire disclosure for organization, consolidation and basis of presentation of financial statements disclosure. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Earnings (Loss) Per Share
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Sep. 30, 2012
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| Earnings (Loss) Per Share | 2. Earnings (Loss) Per Share Basic earnings (loss) per common share was calculated by dividing net income (loss) by the weighted average number of common shares outstanding during the period. Diluted earnings (loss) per common share was calculated by dividing net income (loss) by the weighted average number of common shares outstanding during the year plus the effect of dilutive stock options and restricted stock unit awards. Weighted average number of common shares outstanding was calculated by using the sum of the shares determined on a daily basis divided by the number of days in the period. The table below reconciles the Company’s earnings (loss) per share (in thousands, except for per share data):
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- Definition
The entire disclosure for earnings per share. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Long-Term Debt
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Sep. 30, 2012
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| Long-Term Debt | 3. Long-Term Debt As of the dates indicated, the Company had the following outstanding long-term debt (in thousands):
The Company’s 6.125% senior notes due 2014, or 2014 senior notes, had semi-annual cash interest payments of $9.2 million due and payable each June 1 and December 1, prior to the repurchase and redemption of such notes in March and April 2012, as discussed below. The Company’s 8.000% senior notes due 2017, or 2017 senior notes, have semi-annual cash interest payments of $10.0 million due and payable each March 1 and September 1. The Company’s 1.625% convertible senior notes due 2026, or 2026 convertible senior notes, have semi-annual cash interest payments of $2.0 million due May 15 and November 15, declining to 1.375%, or $1.7 million semi-annually, beginning on November 15, 2013. Subject to certain conversion and redemption features of the 2026 convertible senior notes, holders of such notes may require the Company to purchase all or a portion of their notes on each of November 15, 2013, November 15, 2016 and November 15, 2021. The Company will also be entitled to redeem all or a portion of the 2026 convertible senior notes at par on or after November 15, 2013 and it intends to do so. On March 2, 2012, the Company commenced a cash tender offer for all of the outstanding $300.0 million aggregate principal amount of its 2014 senior notes. Senior notes totaling approximately $252.2 million, or approximately 84% of the 2014 senior notes outstanding, were validly tendered during the designated tender period and were repurchased on March 16, 2012. The remaining $47.8 million of 2014 senior notes were redeemed at 101.021% of par on April 30, 2012. A loss on early extinguishment of debt for the 2014 senior notes of approximately $5.2 million was recorded during the first quarter of 2012 and includes the tender offer costs, an allocable portion of the write-off of unamortized financing costs and original issue discount, and a bond redemption premium. A loss on early extinguishment of debt of $0.9 million was recorded during the second quarter of 2012 for those costs allocable to the remaining 2014 senior notes redeemed on April 30, 2012. On March 2, 2012, the Company issued $375.0 million in aggregate principal amount of 5.875% senior notes due 2020, or 2020 senior notes. The net proceeds to the Company from the offering were approximately $367.4 million, net of estimated transaction costs. The Company used $259.9 million of proceeds on March 16, 2012 to repurchase approximately 84% of the outstanding 2014 senior notes pursuant to its tender offer noted above. The Company used $49.5 million of proceeds on April 30, 2012 to redeem the remaining 16% of the outstanding 2014 senior notes pursuant to the redemption noted above. The remaining proceeds are available for general corporate purposes, which may include funding for the acquisition, construction or retrofit of vessels. The 2020 senior notes mature on April 1, 2020 and require semi-annual interest payments at an annual rate of 5.875%, or $11.0 million semi-annually, on April 1 and October 1 of each year until maturity. The effective interest rate on the 2020 senior notes is 6.08%. No principal payments are due until maturity. Pursuant to a registered exchange offer, the 2020 senior notes issued in March 2012 that were initially sold pursuant to private placements were exchanged by the holders for 2020 senior notes with substantially the same terms, except that the issuance of the 2020 senior notes in the exchange offer was registered under the Securities Act of 1933, as amended, or the Securities Act. The original 2020 senior notes and the similar notes exchanged were issued under and are entitled to the benefits of the same 2012 indenture. The Company may, at its option, redeem all or part of the 2017 senior notes or the 2020 senior notes from time to time at specified redemption prices and subject to certain conditions required by the indentures governing such senior notes. The Company is permitted under the terms of these indentures to incur additional indebtedness in the future, provided that certain financial conditions set forth in the indentures are satisfied by the Company. On August 13, 2012, the Company issued $300.0 million of convertible senior notes due 2019, or the 2019 convertible senior notes, to qualified institutional buyers pursuant to Rule 144A under the Securities Act. The 2019 convertible senior notes bear interest at a fixed rate of 1.500% per annum, or $2.3 million semi-annually, accruing from August 13, 2012, and payable semi-annually on March 1 and September 1 of each year, with the first interest payment on March 1, 2013. The 2019 convertible senior notes mature on September 1, 2019. Because the 2019 convertible senior notes are considered to be cash convertible debt, the Company has separately accounted for the liability and equity components of the 2019 convertible senior notes by allocating the $300.0 million in proceeds from the issuance between the liability component and the embedded conversion option, or the equity component. The allocation was conducted by estimating an interest rate at the time of issuance of the 2019 convertible senior notes for similar debt instruments that do not include the embedded conversion feature. A non-convertible interest rate of 5.75% was used to compute the initial fair value of the liability component of $226.7 million. For purposes of the fair value measurement, the Company determined that the valuation of the 2019 convertible senior notes falls under Level 2 of the fair value hierarchy. The excess of the $300.0 million of proceeds from the issuance of the 2019 convertible senior notes over the $226.7 million initial amount allocated to the liability component, or $73.3 million, was allocated to the embedded conversion option, or equity component. This excess was treated as a debt discount and is being amortized through interest expense, using the effective interest method, over the seven-year term of the 2019 convertible senior notes, which runs through September 1, 2019. The effective interest rate for these notes is 6.23%. The initial conversion rate of the 2019 convertible senior notes is 18.5718 shares per $1,000 principal amount of notes, which corresponds to a conversion price of approximately $53.85 per share. The conversion rate was based on the last reported sale price of the Company’s common shares on The New York Stock Exchange of $39.16 on August 7, 2012. The conversion rate will be subject to adjustment in some events but will not be adjusted for accrued interest. In addition, following certain corporate transactions that constitute “fundamental changes” (as defined in the indenture for the 2019 convertible senior notes), the conversion rate will be increased for holders who elect to convert notes in connection with such corporate transactions in certain circumstances. The 2019 convertible senior notes are convertible based on the applicable conversion rate only under the following circumstances:
Upon conversion, the Company will satisfy its conversion obligation by paying or delivering, as the case may be, cash, shares of common stock or a combination of cash and shares of common stock, at the Company’s election. If the holders of the 2019 convertible senior notes exercise the conversion provisions of the 2019 convertible senior notes and the Company elects to settle such conversions partially in cash (which it presently intends to do at least up to the principal amount of the notes), the Company will need to remit such cash amount to the converting holders. For that reason, in any period during which the 2019 convertible senior notes are convertible as provided above, the Company would classify the entire principal amount of the outstanding 2019 convertible senior notes as a current liability in the respective quarter. This evaluation of the classification of amounts outstanding associated with the 2019 convertible senior notes will occur every calendar quarter. The 2019 convertible senior notes are not redeemable at the option of the Company prior to their maturity. No sinking fund is provided for the 2019 convertible senior notes and the 2019 convertible senior notes are not subject to legal defeasance. If the Company experiences specified types of corporate transactions, including certain change of control events or a de-listing of the Company’s common stock, holders of the 2019 convertible senior notes may require the Company to purchase all or a portion of their 2019 convertible senior notes. Any repurchase of the convertible senior notes pursuant to these provisions will be for cash at a price equal to 100% of the principal amount of the notes to be purchased plus any accrued and unpaid interest to, but excluding, the purchase date. In connection with the sale of the 2019 convertible senior notes, the Company entered into convertible senior note hedge transactions with respect to its common stock with affiliates of the initial purchasers of the notes, Barclays, Inc., JP Morgan Chase and Wells Fargo Bank, or the counterparties. Each of the 2019 convertible senior note hedge transactions is a privately-negotiated transaction that is economically equivalent to the purchase of call options on the Company’s common stock with strike prices equal to the conversion price of the 2019 convertible senior notes, and is intended to mitigate dilution to the Company’s stockholders and/or offset cash payment due upon the potential future conversion of the 2019 convertible senior notes. Under the 2019 convertible senior note hedge transactions, subject to customary anti-dilution provisions, the counterparties are required to deliver to the Company the approximate number of shares of the Company’s common stock and/or an amount of cash that the Company is obligated to deliver to the holders of the 2019 convertible senior notes assuming the conversion of such notes. The Company also entered into separate privately-negotiated warrant transactions, whereby the Company sold to each of the counterparties call options to acquire approximately the same number of shares of its common stock underlying the convertible senior note hedge transactions, subject to customary anti-dilution adjustments, at a strike price of $68.53 per share of common stock, which represented a 75.0% premium over the closing price of the Company’s shares of common stock on August 7, 2012. Upon the exercise of the warrants, if the market price of the common stock exceeds the strike price of the warrants on any day within the valuation period, the Company will be required to deliver the corresponding value to the counterparties, at its option in cash or shares of its common stock. The 2019 convertible senior note hedge and warrant transactions are separate and legally distinct instruments that bind the Company and the counterparties and have no binding effect on the holders of the 2019 convertible senior notes. For income tax reporting purposes, the Company has elected to integrate the 2019 convertible senior notes and the note hedge transactions. Integration of the 2019 convertible senior note hedge with the 2019 convertible senior notes creates an in-substance original issue debt discount for income tax reporting purposes and, therefore, the cost of the 2019 convertible senior note hedge is accounted for as interest expense over the term of the 2019 convertible senior notes for income tax reporting purposes. The associated income tax deductions will be recognized in the period that the deduction is taken for income tax reporting purposes. The Company has also treated the proceeds from the sale of warrants as a non-taxable increase in additional paid-in capital in stockholders’ equity. The Company used a portion of the $290.8 million in net proceeds of the 2019 convertible senior notes offering, along with a portion of the $48.2 million in proceeds from the sale of warrants, to fund the $73.0 million cost of convertible senior note hedge transactions. The Company intends to use the remaining net proceeds of approximately $266.0 million from the sale of the 2019 convertible senior notes and the sale of the warrants, along with other available sources of cash, to retire its 2026 convertible senior notes, which are first subject to repurchase by the Company at the option of holders of such 2026 convertible senior notes, on November 15, 2013, and subject to redemption at the Company’s option on or after November 15, 2013, in each case at par plus accrued and unpaid interest, or for general corporate purposes, which may include retirement of other debt or funding for the acquisition, construction or retrofit of vessels. The Company incurred $9.1 million of fees and other costs related to the issuance of the 2019 convertible senior notes. These fees and other origination costs have been allocated to the liability and equity components of the 2019 convertible senior notes in proportion to their allocated values. Approximately $2.2 million of these fees and other origination costs were recorded as a reduction in additional paid-in capital. The remaining $6.9 million of fees and other costs are being amortized as interest expense over the seven-year term of the 2019 convertible senior notes, which runs through September 1, 2019. The 2019 convertible senior notes and the 2020 senior notes are guaranteed by certain of the Company’s subsidiaries. The guarantees are full and unconditional, joint and several, and all of the Company’s non-guarantor subsidiaries are minor as defined in Commission regulations. Hornbeck Offshore Services, Inc., as the parent company issuer of the 2019 convertible senior notes and the 2020 senior notes, has no independent assets or operations other than its ownership interest in its subsidiaries and affiliates. There are no significant restrictions on the Company’s ability or the ability of any guarantor to obtain funds from its subsidiaries by such means as a dividend or loan, except for certain restrictions contained in the Company’s revolving credit facility restricting the payment of dividends by the Company’s two principal subsidiaries. The 2019 convertible senior notes and the 2020 senior notes are general unsecured, senior obligations of the Company, ranking equally in right of payment with all of its existing and future senior indebtedness, including its outstanding 2017 senior notes and its 2026 senior convertible notes. The Company has an amended and restated revolving credit facility, with a borrowing base of $300.0 million and an accordion feature that allows for the potential expansion of the facility up to an aggregate of $500.0 million. The facility matures in November 2016. Under the Company’s revolving credit facility, it has the option of borrowing at a variable rate of interest equal to either (i) LIBOR, plus an applicable margin, or (ii) the greatest of the Prime Rate, the Federal Funds Effective Rate plus 1/2 of 1% and the one-month LIBOR plus 1%, plus in each case an applicable margin. The applicable margin for each base rate is determined by a pricing grid, which is based on the Company’s leverage ratio, as defined in the credit agreement governing the amended revolving credit facility. Unused commitment fees are payable quarterly at the annual rate ranging from 37.5 basis points to 50.0 basis points as determined by a pricing grid. As of September 30, 2012, there were no amounts drawn under the Company’s $300.0 million revolving credit facility and $0.9 million posted as letters of credit. As of September 30, 2012, the Company was in compliance with all financial covenants required by its revolving credit facility and the full amount of the undrawn borrowing base under the facility was available to the Company for all uses of proceeds, including working capital, if necessary. The Company estimates the fair value of its 2017 senior notes, 2020 senior notes, 2019 convertible senior notes and 2026 convertible senior notes by primarily using quoted market prices. The fair value of the Company’s revolving credit facility, when there are outstanding balances, approximates its carrying value. The face value, carrying value and fair value of the Company’s total debt was $1,175.0 million, $1,083.1 million and $1,209.1 million, respectively, as of September 30, 2012. Given the observable nature of the inputs to these estimates, the fair values presented for long-term debt have been assigned a Level 2, of the three-level valuation hierarchy. Capitalized Interest During the three and nine months ended September 30, 2012, the Company capitalized approximately $2.9 million and $6.4 million respectively, of interest costs related to the construction of vessels. No such interest was capitalized during the same periods in 2011. |
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| X | ||||||||||
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- Definition
The entire disclosure for long-term debt. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Incentive Compensation
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9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2012
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| Incentive Compensation | 4. Incentive Compensation Stock-Based Incentive Compensation Plan The Company’s stock-based incentive compensation plan covers a maximum of 4.2 million shares of common stock that allows the Company to grant restricted stock awards, restricted stock unit awards, or collectively restricted stock, stock options and stock appreciation rights to employees and directors. During the nine months ended September 30, 2012, the Company granted cash-settled restricted stock units, time-based restricted stock and performance-based restricted stock. Time-based restricted stock was granted to executive officers and directors of the Company. Cash-settled phantom restricted stock units were granted to executive officers and certain shoreside employees of the Company. Performance-based restricted stock was granted to executive officers of the Company. The shares to be received under the performance-based restricted stock are calculated based on the Company’s performance compared to three pre-determined criteria, as defined by the restricted stock agreements governing such awards. The actual number of shares that could be received by the award recipients can range from 0% to 100% of the Company’s awards depending on the Company’s performance. During the nine months ended September 30, 2012, the Company granted 237,368 time-based restricted stock and performance-based restricted stock and 137,358 cash-settled phantom restricted stock units. The cash-settled phantom restricted stock units are re-measured quarterly and classified as a liability, due to the settlement of these awards in cash. Compensation expense related to 2012 restricted stock grants is recognized over the three-year service period. The fair value of the Company’s performance-based restricted stock, which is the stock price on the date of grant, is applied to the total shares that are expected to fully vest and is amortized over the vesting period, which is generally three years, based on the Company’s internal performance measured against the pre-determined criteria, as applicable. The compensation expense related to time-based restricted stock and cash-settled phantom restricted stock is amortized over a vesting period of up to three years, as applicable, and is determined based on the market price of the Company’s stock on the date of grant applied to the total shares that are expected to fully vest. In addition to the restricted stock granted in 2012, the Company granted performance-based and time-based restricted stock in 2009, 2010 and 2011 as well as stock options in 2011. During the nine months ended September 30, 2012, the Company issued 381,284 shares, in the aggregate, of stock that vested pursuant to share-based compensation grants from such prior periods or were purchased under the Company’s Employee Stock Purchase Plan. The financial impact of the stock-based compensation expense related to the Company’s incentive compensation plan on its operating results are reflected in the table below (in thousands, except for per share data):
In addition, the Company capitalized approximately $0.1 million of stock-based compensation expense that related directly to newbuild construction programs for the three and nine months ended September 30, 2012. No such stock-based compensation expense was capitalized during the three and nine months ended September 30, 2011. |
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- Definition
The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Commitments and Contingencies
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Sep. 30, 2012
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| Commitments and Contingencies | 5. Commitments and Contingencies Vessel Construction In November 2011, the Company announced, and has since expanded, its fifth OSV newbuild program. This program consists of vessel construction contracts with two domestic shipyards to build four 300 class OSVs, six 310 class OSVs, and ten 320 class OSVs. The 20 vessels are expected to be placed in service as follows: five in 2013, 13 in 2014 and two in 2015. Based on current contracts and internal estimates, the aggregate total cost of this program, before construction period interest, is expected to be approximately $900.0 million. As of September 30, 2012, the Company had incurred construction costs of approximately $187.0 million, or 20.8%, since the inception of its fifth OSV newbuild program. 200 Class OSV Retrofit Program In September 2012, the Company awarded a contract to Bollinger Shipyards for the upgrading and stretching of six of the Company’s Super 200 class DP-1 OSVs, converting them into 240 class DP-2 OSVs. The project costs for these discretionary vessel modifications are expected to be approximately $50.0 million, in the aggregate ($8.3 million each), and the Company expects to incur approximately 762 vessel-days of aggregate commercial downtime for the six vessels (127 vessel-days each). The current schedule projects the first two vessels to arrive at the shipyard in December 2012 with re-deliveries of two vessels each in May, August and December of 2013. As of September 30, 2012, the Company had incurred approximately $2.3 million, or 4.6%, since the inception of its 200 class OSV retrofit program. Contingencies In the normal course of its business, the Company becomes involved in various claims and legal proceedings in which monetary damages are sought. It is management’s opinion that the Company’s liability, if any, under such claims or proceedings would not materially affect its financial position, results of operations, or cash flows. The Company insures against losses relating to its vessels, pollution and third party liabilities, including claims by employees under Section 33 of the Merchant Marine Act of 1920, or the Jones Act. Third-party liabilities and pollution claims that relate to vessel operations are covered by the Company’s entry in a mutual protection and indemnity association, or P&I Club, as well as by marine liability policies in excess of the P&I Club’s coverage. In February 2012 and 2011, the terms of entry with the P&I Club for the Downstream segment contained an annual aggregate deductible (AAD) for which the Company remains responsible. The P&I Club is responsible for covered amounts that exceed the AAD, after payment by the Company of an additional individual claim deductible. The Company provides reserves for those portions of the AAD and any individual claim deductibles for which the Company remains responsible by using an estimation process that considers Company-specific and industry data, as well as management’s experience, assumptions and consultation with outside counsel. As additional information becomes available, the Company will assess the potential liability related to its pending litigation and revise its estimates. Although revisions to such estimates have historically not been material, changes in estimates of the potential liability could materially impact the Company’s results of operations, financial position or cash flows. During 2010 and 2011, the Company mobilized 12 vessels, in the aggregate, to Brazil to operate under long-term contracts for Petrobras. These vessels required a significant amount of modifications to comply with requirements of the contracts. The Company has been assessed penalties by Petrobras for late-deliveries. In addition, these vessel charters with Petrobras include limitations regarding fuel consumption. Petrobras has asserted claims against the Company relating to excess fuel consumption. The Company’s exposure for these assessments, net of amounts accrued, is in the range of approximately $0.5 million to $8.0 million. The Company disagrees with a majority of these assessments. In addition, the Company also has claims against Petrobras for their contributory actions related to the vessels’ late deliveries. Such claims exceed the maximum exposure noted above. The Company is not able to predict the ultimate outcome of these claims and counterclaims with Petrobras as of September 30, 2012. While the Company cannot currently estimate the amounts or timing of the resolution of these matters, the Company believes that the outcome will not have a material impact on its liquidity or financial position, but the ultimate resolution could have a material impact on its interim or annual results of operations. On August 17, 2012, a customer, ATP Oil and Gas, Inc., initiated a reorganization proceeding under Chapter 11 of the United States Bankruptcy Code. Pre-petition receivables from ATP were $4.7 million and the Company has recorded $0.9 million in reserves. While the Company believes that the net receivables are collectible, it will continue to monitor the proceedings, which may result in actual collections that may differ from the current estimate. |
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- Definition
The entire disclosure for commitments and contingencies. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Deferred Charges
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Sep. 30, 2012
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| Deferred Charges | 6. Deferred Charges Deferred charges include the following (in thousands):
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- Definition
Deferred Charges Disclosure No definition available.
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Segment Information
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Sep. 30, 2012
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| Segment Information | 7. Segment Information The Company provides marine transportation and logistics services through two business segments. The Company primarily operates new generation OSVs and MPSVs in the U.S. Gulf of Mexico, or GoM, other U.S. coastlines, Latin America and the Middle East and operates a shore-base facility in Port Fourchon, Louisiana through its Upstream segment. The OSVs, MPSVs and the shore-base facility principally support complex exploration and production projects by transporting cargo to offshore drilling rigs and production facilities and providing support for oilfield and non-oilfield specialty services, including military applications. The Downstream segment operates ocean-going tugs and tank barges primarily in the northeastern United States, the GoM, the Great Lakes and Puerto Rico. The ocean-going tugs and tank barges provide coastwise transportation of refined and bunker grade petroleum products, as well as non-traditional downstream services, such as support of deepwater well testing and other specialty applications for the Company’s Upstream customers.
The following table shows reportable segment information for the three and nine months ended September 30, 2012 and 2011, reconciled to consolidated totals and prepared on the same basis as the Company’s consolidated financial statements (in thousands).
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- 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. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Earnings (Loss) Per Share (Tables)
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Sep. 30, 2012
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| Reconciliation of Earnings Per Share | The table below reconciles the Company’s earnings (loss) per share (in thousands, except for per share data):
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- Definition
Tabular disclosure of the reconciliation of basic net earnings per share (or unit) to diluted earnings per share (or unit). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Long-Term Debt (Tables)
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Sep. 30, 2012
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| Outstanding Long-Term Debt | As of the dates indicated, the Company had the following outstanding long-term debt (in thousands):
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- 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. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Incentive Compensation (Tables)
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Sep. 30, 2012
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| Financial Impact of Stock-Based Compensation Expense | The financial impact of the stock-based compensation expense related to the Company’s incentive compensation plan on its operating results are reflected in the table below (in thousands, except for per share data):
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- Definition
Incentive Compensation Plans Expense Recognized in Earnings No definition available.
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Deferred Charges (Tables)
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Sep. 30, 2012
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| Deferred Charges | Deferred charges include the following (in thousands):
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- Definition
Tabular disclosure of the amounts paid in advance for capitalized costs that will be expensed with the passage of time or the occurrence of a triggering event, and will be charged against earnings within one year or the normal operating cycle, if longer; the aggregate carrying amount of current assets, not separately presented elsewhere in the balance sheet; and other deferred costs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Segment Information (Tables)
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9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2012
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| Segment Information | The following table shows reportable segment information for the three and nine months ended September 30, 2012 and 2011, reconciled to consolidated totals and prepared on the same basis as the Company’s consolidated financial statements (in thousands).
|
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| X | ||||||||||
|
- Definition
Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Reconciliation of Earnings (Loss) Per Share (Detail) (USD $)
In Thousands, except Per Share data, unless otherwise specified |
3 Months Ended | 9 Months Ended | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Sep. 30, 2012
|
Sep. 30, 2011
|
Sep. 30, 2012
|
Sep. 30, 2011
|
|||||||||
| Earnings Per Share Disclosure [Line Items] | ||||||||||||
| Net income (loss) | $ 7,401 | $ (741) | $ 25,722 | $ (16,802) | ||||||||
| Weighted average number of shares of common stock outstanding | 35,384 | 26,919 | 35,276 | 26,839 | ||||||||
| Add: Net effect of dilutive stock options and unvested restricted stock | 746 | [1],[2],[3] | 787 | [1],[2],[3] | ||||||||
| Adjusted weighted average number of shares of common stock outstanding | 36,130 | 26,919 | 36,063 | 26,839 | ||||||||
| Earnings (loss) per common share: | ||||||||||||
| Basic | $ 0.21 | $ (0.03) | $ 0.73 | $ (0.63) | ||||||||
| Diluted | $ 0.20 | $ (0.03) | $ 0.71 | $ (0.63) | ||||||||
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Details
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| X | ||||||||||
|
- Definition
The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
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. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The sum of dilutive potential common shares or units used in the calculation of the diluted per-share or per-unit computation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Reconciliation of Earnings (Loss) Per Share (Parenthetical) (Detail) (USD $)
In Thousands, except Per Share data, unless otherwise specified |
3 Months Ended | 9 Months Ended | |||||||
|---|---|---|---|---|---|---|---|---|---|
|
Aug. 13, 2012
|
Sep. 30, 2012
Deferred Compensation, Share-based Payments
|
Sep. 30, 2011
Deferred Compensation, Share-based Payments
|
Sep. 30, 2012
Deferred Compensation, Share-based Payments
|
Sep. 30, 2011
Deferred Compensation, Share-based Payments
|
Sep. 30, 2012
Convertible 1.500 Percent Senior Notes Due 2019
|
Sep. 30, 2012
Convertible 1.625 Percent Senior Notes Due 2026
|
Dec. 31, 2011
Convertible 1.625 Percent Senior Notes Due 2026
|
Sep. 30, 2011
Convertible 1.625 Percent Senior Notes Due 2026
|
|
| Earnings Per Share Disclosure [Line Items] | |||||||||
| Anti-dilutive shares excluded from the calculation of diluted earnings per share | 0 | 1,209 | 0 | 1,201 | |||||
| Maturity | 2019 | 2026 | 2026 | 2026 | |||||
| Convertible senior notes conversion price | $ 53.85 | $ 68.53 | $ 62.59 | $ 62.59 | $ 62.59 | ||||
| X | ||||||||||
|
- Definition
Debt Instrument Maturity Year No definition available.
|
| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) or earnings per unit (EPU) in the future that were not included in the computation of diluted EPS or EPU because to do so would increase EPS or EPU amounts or decrease loss per share or unit amounts for the period presented. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
The price per share of the conversion feature embedded in the debt instrument. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Outstanding Long-Term Debt (Detail) (USD $)
In Thousands, unless otherwise specified |
Sep. 30, 2012
|
Dec. 31, 2011
|
||||
|---|---|---|---|---|---|---|
| Debt Instrument [Line Items] | ||||||
| Long-term Debt | $ 1,083,107 | $ 770,648 | ||||
| Less current maturities | ||||||
| Long-term Debt, Excluding Current Maturities | 1,083,107 | 770,648 | ||||
|
Senior Notes 6.125 Percent Due 2014
|
||||||
| Debt Instrument [Line Items] | ||||||
| Senior Notes | 299,785 | |||||
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Senior Notes 8 Percent Due 2017
|
||||||
| Debt Instrument [Line Items] | ||||||
| Senior Notes | 245,023 | 244,429 | ||||
|
Senior Notes 5.875 Percent Due 2020
|
||||||
| Debt Instrument [Line Items] | ||||||
| Senior Notes | 375,000 | |||||
|
Convertible 1.500 Percent Senior Notes Due 2019
|
||||||
| Debt Instrument [Line Items] | ||||||
| Senior Notes | 227,379 | |||||
|
Convertible 1.625 Percent Senior Notes Due 2026
|
||||||
| Debt Instrument [Line Items] | ||||||
| Senior Notes | 235,705 | [1] | 226,434 | [1] | ||
|
Revolving Credit Facility Due 2016
|
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| Debt Instrument [Line Items] | ||||||
| Revolving credit facility | ||||||
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| X | ||||||||||
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- Details
|
| X | ||||||||||
|
- Definition
The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Carrying amount of long-term debt, net of unamortized discount or premium, including current and noncurrent amounts. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
Carrying amount of long-term debt, net of unamortized discount or premium, scheduled to be repaid within one year or the normal operating cycle, if longer. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
Carrying amount of long-term debt, net of unamortized discount or premium, excluding amounts to be repaid within one year or the normal operating cycle, if longer (current maturities). Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Including the current and noncurrent portions, carrying value as of the balance sheet date of Notes with the highest claim on the assets of the issuer in case of bankruptcy or liquidation (with maturities initially due after one year or beyond the operating cycle if longer). Senior note holders are paid off in full before any payments are made to junior note holders. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Outstanding Long-Term Debt (Parenthetical) (Detail) (USD $)
In Thousands, unless otherwise specified |
Sep. 30, 2012
|
Dec. 31, 2011
|
Sep. 30, 2012
Senior Notes 6.125 Percent Due 2014
|
Dec. 31, 2011
Senior Notes 6.125 Percent Due 2014
|
Sep. 30, 2012
Senior Notes 8 Percent Due 2017
|
Dec. 31, 2011
Senior Notes 8 Percent Due 2017
|
Sep. 30, 2012
Senior Notes 5.875 Percent Due 2020
|
Mar. 02, 2012
Senior Notes 5.875 Percent Due 2020
|
Sep. 30, 2012
Convertible 1.500 Percent Senior Notes Due 2019
|
Sep. 30, 2012
Convertible 1.625 Percent Senior Notes Due 2026
|
Dec. 31, 2011
Convertible 1.625 Percent Senior Notes Due 2026
|
Sep. 30, 2011
Convertible 1.625 Percent Senior Notes Due 2026
|
Sep. 30, 2012
Convertible 1.625 Percent Senior Notes Due 2026
Beginning on November 15, 2013
|
Sep. 30, 2012
Revolving Credit Facility Due 2016
|
Dec. 31, 2011
Revolving Credit Facility Due 2016
|
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt Instrument [Line Items] | |||||||||||||||
| Interest Rate | 6.125% | 6.125% | 8.00% | 8.00% | 5.875% | 5.875% | 1.50% | 1.625% | 1.625% | 1.375% | |||||
| Maturity | 2014 | 2014 | 2017 | 2017 | 2020 | 2020 | 2019 | 2026 | 2026 | 2026 | 2016 | 2016 | |||
| Senior notes, original issue discount | $ 91,893 | $ 29,352 | $ 215 | $ 4,977 | $ 5,571 | $ 72,621 | $ 14,295 | $ 23,566 |
| X | ||||||||||
|
- Definition
Debt Instrument Maturity Year No definition available.
|
| X | ||||||||||
|
- Definition
Interest rate stated in the contractual debt agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The amount of debt discount that was originally recognized at the issuance of the instrument that has yet to be amortized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Long-Term Debt - Additional Information (Detail) (USD $)
|
1 Months Ended | 3 Months Ended | 9 Months Ended | 9 Months Ended | 9 Months Ended | 1 Months Ended | 9 Months Ended | 1 Months Ended | 3 Months Ended | 9 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 9 Months Ended | 1 Months Ended | 9 Months Ended | 1 Months Ended | 9 Months Ended | |||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Aug. 13, 2012
|
Sep. 30, 2012
|
Sep. 30, 2011
|
Sep. 30, 2012
|
Sep. 30, 2011
|
Aug. 07, 2012
|
Sep. 30, 2012
Holder Optional Redemption Period 1
|
Sep. 30, 2012
Holder Optional Redemption Period 2
|
Sep. 30, 2012
Holder Optional Redemption Period 3
|
Sep. 30, 2012
Letter of Credit
|
Sep. 30, 2012
Amended Line of Credit Facility
|
Sep. 30, 2012
Amended Line of Credit Facility
Minimum
|
Sep. 30, 2012
Amended Line of Credit Facility
Maximum
|
Sep. 30, 2012
Amended Line of Credit Facility
After Amendment
|
Sep. 30, 2012
Amended and Restated Credit Agreement
Prime Rate or Federal Funds Rate
|
Sep. 30, 2012
Amended and Restated Credit Agreement
One Month LIBOR
|
Aug. 13, 2012
Convertible 1.500 Percent Senior Notes Due 2019
|
Sep. 30, 2012
Convertible 1.500 Percent Senior Notes Due 2019
|
Aug. 13, 2012
Convertible 1.500 Percent Senior Notes Due 2019
Conversion Condition 1
|
Aug. 13, 2012
Convertible 1.500 Percent Senior Notes Due 2019
Conversion Condition 1
Minimum
D
|
Aug. 13, 2012
Convertible 1.500 Percent Senior Notes Due 2019
Conversion Condition 2
D
|
Aug. 13, 2012
Convertible 1.500 Percent Senior Notes Due 2019
Conversion Condition 2
Maximum
|
Mar. 31, 2012
Senior Notes 6.125 Percent Due 2014
|
Sep. 30, 2012
Senior Notes 6.125 Percent Due 2014
|
Apr. 30, 2012
Senior Notes 6.125 Percent Due 2014
|
Mar. 16, 2012
Senior Notes 6.125 Percent Due 2014
|
Dec. 31, 2011
Senior Notes 6.125 Percent Due 2014
|
Sep. 30, 2012
Senior Notes 6.125 Percent Due 2014
Semi Annual Payment, First Payment
|
Sep. 30, 2012
Senior Notes 6.125 Percent Due 2014
Semi Annual Payment, Second Payment
|
Mar. 02, 2012
Senior Notes 6.125 Percent Due 2014
Tender Offers
|
Jun. 30, 2012
Senior Notes 6.125 Percent Due 2014
Deferred Loss on Early Extinguishment of Debt
|
Sep. 30, 2012
Senior Notes 8 Percent Due 2017
|
Dec. 31, 2011
Senior Notes 8 Percent Due 2017
|
Sep. 30, 2012
Senior Notes 8 Percent Due 2017
Semi Annual Payment, First Payment
|
Sep. 30, 2012
Senior Notes 8 Percent Due 2017
Semi Annual Payment, Second Payment
|
Sep. 30, 2012
Convertible 1.625 Percent Senior Notes Due 2026
|
Dec. 31, 2011
Convertible 1.625 Percent Senior Notes Due 2026
|
Sep. 30, 2011
Convertible 1.625 Percent Senior Notes Due 2026
|
Aug. 07, 2012
Convertible 1.625 Percent Senior Notes Due 2026
Warrant
|
Sep. 30, 2012
Convertible 1.625 Percent Senior Notes Due 2026
Beginning on November 15, 2013
|
Sep. 30, 2012
Convertible 1.625 Percent Senior Notes Due 2026
Semi Annual Payment, First Payment
|
Sep. 30, 2012
Convertible 1.625 Percent Senior Notes Due 2026
Semi Annual Payment, Second Payment
|
Sep. 30, 2012
Convertible Senior Notes
|
Apr. 30, 2012
Senior Notes 5.875 Percent Due 2020
|
Mar. 16, 2012
Senior Notes 5.875 Percent Due 2020
|
Mar. 02, 2012
Senior Notes 5.875 Percent Due 2020
|
Sep. 30, 2012
Senior Notes 5.875 Percent Due 2020
|
Sep. 30, 2012
Senior Notes 5.875 Percent Due 2020
Semi Annual Payment, First Payment
|
Sep. 30, 2012
Senior Notes 5.875 Percent Due 2020
Semi Annual Payment, Second Payment
|
|||||
| Debt Instrument [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| Debt instrument, interest rate | 1.50% | 6.125% | 6.125% | 8.00% | 8.00% | 1.625% | 1.625% | 1.375% | 5.875% | 5.875% | |||||||||||||||||||||||||||||||||||||||||||
| Debt instrument, maturity year | 2019 | 2014 | 2014 | 2017 | 2017 | 2026 | 2026 | 2026 | 2020 | 2020 | |||||||||||||||||||||||||||||||||||||||||||
| Debt instrument, frequency of periodic payment | Semi-annual | Semi-annual | Semi-annual | Semi-annual | |||||||||||||||||||||||||||||||||||||||||||||||||
| Semi-annual cash interest payments | $ 2,300,000 | $ 9,200,000 | $ 10,000,000 | $ 2,000,000 | $ 1,700,000 | $ 11,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||
| Debt instrument, interest payable date | --06-01 | --12-01 | --03-01 | --09-01 | --05-15 | --11-15 | --04-01 | --10-01 | |||||||||||||||||||||||||||||||||||||||||||||
| Convertible senior notes, feature purchase date | Nov. 15, 2013 | Nov. 15, 2016 | Nov. 15, 2021 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Conversion and redemption features of the convertible senior notes | Subject to certain conversion and redemption features of the 2026 convertible senior notes, holders of such notes may require the Company to purchase all or a portion of their notes on each of November 15, 2013, November 15, 2016 and November 15, 2021. | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Senior notes, cash tender offer commenced | 227,379,000 | 299,785,000 | 300,000,000 | 245,023,000 | 244,429,000 | 235,705,000 | [1] | 226,434,000 | [1] | 375,000,000 | |||||||||||||||||||||||||||||||||||||||||||
| Repaid amount of senior notes | 47,800,000 | 252,200,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Percentage of debt outstanding tendered | 16.00% | 84.00% | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Senior notes, redemption price percentage of par | 101.021% | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Loss on early extinguishment of debt | (6,048,000) | (5,200,000) | (900,000) | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Debt instrument, principal amount | 1,175,000,000 | 1,175,000,000 | 300,000,000 | 375,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||
| Net proceeds from issuance of senior notes | 375,000,000 | 266,000,000 | 367,400,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Repayment of senior notes | 300,000,000 | 49,500,000 | 259,900,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Debt instrument, maturity date | Sep. 01, 2019 | Apr. 01, 2020 | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Senior notes, interest payment descriptions | The 2020 senior notes mature on April 1, 2020 and require semi-annual interest payments at an annual rate of 5.875%, or $11.0 million semi-annually, on April 1 and October 1 of each year until maturity. | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Debt instrument, effective interest rate | 6.23% | 6.08% | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Debt instrument, first interest payment date | Mar. 01, 2013 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Non-convertible interest rate to compute initial fair value of liability component | 5.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Debt instrument, liability component | 226,700,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Debt instrument, equity component | 73,300,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Debt instrument, term | 7 years | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Convertible Senior Notes, conversion rate (shares per $1,000 of principal) | 18.5718 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Conversion price per share | $ 53.85 | $ 68.53 | $ 62.59 | $ 62.59 | $ 62.59 | ||||||||||||||||||||||||||||||||||||||||||||||||
| Market price per share | $ 39.16 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Market price of debentures increasing percent to the value of the common stock | 135.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Number of trading days in a period of consecutive trading days that will cause the senior notes to be converted | 20 | 5 | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Number of consecutive trading days used in conversion analysis | 30 days | 10 days | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Principal amount of senior notes for conversion | 1,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Trading price per 1000 principal amount of notes, percent | 95.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Repurchase price of senior note as percent of principal amount | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Convertible note warrant, strike price | $ 68.53 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Debt Instrument, Convertible, Conversion Premium | 75.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Net proceeds from issuance of convertible senior notes | 300,000,000 | 290,800,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Sale of common stock warrants | 48,237,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Cost of convertible note hedge transactions | 73,032,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Senior convertible redemption date | Nov. 15, 2013 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Fees and other costs related to issuance of debt | 9,100,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Reduction in additional paid in capital | 2,200,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Interest expense | 6,900,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Revolving credit facility, current borrowing capacity | 300,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Revolving credit facility, maximum borrowing capacity | 500,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Debt Instrument, Maturity, Month and Year | 2016-11 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Revolving credit facility interest and fee | Under the Company’s revolving credit facility, it has the option of borrowing at a variable rate of interest equal to either (i) LIBOR, plus an applicable margin, or (ii) the greatest of the Prime Rate, the Federal Funds Effective Rate plus 1/2 of 1% and the one-month LIBOR plus 1%, plus in each case an applicable margin. The applicable margin for each base rate is determined by a pricing grid, which is based on the Company’s leverage ratio, as defined in the credit agreement governing the amended revolving credit facility. Unused commitment fees are payable quarterly at the annual rate ranging from 37.5 basis points to 50.0 basis points as determined by a pricing grid. | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Debt instrument, margin rate | 0.50% | 1.00% | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Line of credit facility, commitment fee percentage | 0.375% | 0.50% | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Letter of credit | 900,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Debt, carrying value | 1,083,100,000 | 1,083,100,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Debt, fair value | 1,209,100,000 | 1,209,100,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Capitalized interest, approximate amount | $ 2,900,000 | $ 0 | $ 6,400,000 | $ 0 | |||||||||||||||||||||||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||
| X | ||||||||||
|
- Definition
Amortization of deferred financing costs to interest expense No definition available.
|
| X | ||||||||||
|
- Definition
Debt Instrument Conversion Circumstance, Number of Consecutive Trading Days No definition available.
|
| X | ||||||||||
|
- Definition
Debt Instrument Conversion Circumstance Percentage Stock Price Of Stock Conversion Threshold No definition available.
|
| X | ||||||||||
|
- Definition
Debt Instrument, Convertible, Carrying Amount of The Liability Component No definition available.
|
| X | ||||||||||
|
- Definition
Debt Instrument, Convertible, Conversion Premium No definition available.
|
| X | ||||||||||
|
- Definition
Debt Instrument Convertible Conversion Warrant Strike Price No definition available.
|
| X | ||||||||||
|
- Definition
Convertible Debt Instrument Optional Repurchase Date. No definition available.
|
| X | ||||||||||
|
- Definition
Debt Instrument Date Of Payment No definition available.
|
| X | ||||||||||
|
- Definition
Subject to certain conversion and redemption features of the convertible senior notes, holders of such notes may require the Company to purchase all or a portion of their notes on each of November 15, 2013, November 15, 2016 and November 15, 2021. No definition available.
|
| X | ||||||||||
|
- Definition
Debt Instrument, Face Amount, Repaid No definition available.
|
| X | ||||||||||
|
- Definition
Debt Instrument, First Interest Payment Date No definition available.
|
| X | ||||||||||
|
- Definition
Debt Instrument, Maturity, Month and Year No definition available.
|
| X | ||||||||||
|
- Definition
Debt Instrument Maturity Period No definition available.
|
| X | ||||||||||
|
- Definition
Debt Instrument Maturity Year No definition available.
|
| X | ||||||||||
|
- Definition
Debt Instrument Redemption Date No definition available.
|
| X | ||||||||||
|
- Definition
Debt Redemption Price Percent Of Par No definition available.
|
| X | ||||||||||
|
- Definition
Decrease in Additional Paid in Capital No definition available.
|
| X | ||||||||||
|
- Definition
Discount Rate Used To Determine Liability Fair Value No definition available.
|
| X | ||||||||||
|
- Definition
Market Price Per Share No definition available.
|
| X | ||||||||||
|
- Definition
Maximum Trading Price Percentage Of Product Of Last Reported Sale Price Of Common Stock And Conversion Rate On Each Trading Day Required For Second Condition Of Convertibility Of Notes No definition available.
|
| X | ||||||||||
|
- Definition
Number Of Trading Days Whether Consecutive Or Not For First Condition Of Convertibility Of Notes No definition available.
|
| X | ||||||||||
|
- Definition
Percentage of Notes Redeemed No definition available.
|
| X | ||||||||||
|
- Definition
Principal Amount Per Note Used in Conversion Rate No definition available.
|
| X | ||||||||||
|
- Definition
Purchase of convertible note hedges. No definition available.
|
| X | ||||||||||
|
- Definition
Repurchase Price As Percentage Of Principal Amount Of Senior Notes No definition available.
|
| X | ||||||||||
|
- Definition
The percentage points added to the reference rate to compute the variable rate on the debt instrument. No definition available.
|
| X | ||||||||||
|
- Definition
Including current and noncurrent portions, aggregate carrying amount of long-term borrowings as of the balance sheet date before deducting unamortized discount or premiums (if any). May include notes payable, bonds payable, commercial loans, mortgage loans, convertible debt, subordinated debt and other types of debt, which had initial maturities beyond one year or beyond the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The carrying amount of the equity component of convertible debt which may be settled in cash upon conversion. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The price per share of the conversion feature embedded in the debt instrument. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The ratio applied to the debt for purposes of determining the number of shares of the equity security into which the debt will be converted. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The stated principal amount of the debt instrument at time of issuance, which may vary from the carrying amount because of unamortized premium or discount. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This element represents the portion of the balance sheet assertion valued at fair value by the entity whether such amount is presented as a separate caption or as a parenthetical disclosure. Additionally, this element may be used in connection with the fair value disclosures required in the footnote disclosures to the financial statements. The element may be used in both the balance sheet and disclosure in the same submission. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Description of the frequency of periodic payments (monthly, quarterly, annual). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Effective interest rate for the funds borrowed under the debt agreement considering interest compounding and original issue discount or premium. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Interest rate stated in the contractual debt agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Description of the interest rate as being fixed or variable, and, if variable, identification of the index or rate on which the interest rate is based and the number of points or percentage added to that index or rate to set the rate, and other pertinent information, such as frequency of rate resets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Date when the debt instrument is scheduled to be fully repaid, in CCYY-MM-DD format. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of the required periodic payments applied to interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of debt issuance costs (for example, but not limited to, legal, accounting, broker, and regulatory fees). No definition available.
|
| X | ||||||||||
|
- Definition
Difference between the fair value of payments made and the carrying amount of debt which is extinguished prior to maturity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of interest capitalized during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of current borrowing capacity under the credit facility considering any current restrictions on the amount that could be borrowed (for example, borrowings may be limited by the amount of current assets), but without considering any amounts currently outstanding under the facility. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Description of the interest rate for the amounts borrowed under the credit facility, including the terms and the method for determining the interest rate (for example, fixed or variable, LIBOR plus a percentage, increasing rate, timing of interest rate resets, remarketing provisions). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Maximum borrowing capacity under the credit facility without consideration of any current restrictions on the amount that could be borrowed or the amounts currently outstanding under the facility. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The fee, expressed as a percentage of the line of credit facility, for available but unused credit capacity under the credit facility. No definition available.
|
| X | ||||||||||
|
- Definition
The cash inflow from the issuance of a long-term debt instrument which can be exchanged for a specified amount of another security, typically the entity's common stock, at the option of the issuer or the holder. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash inflow from a borrowing with the highest claim on the assets of the entity in case of bankruptcy or liquidation (with maturities initially due after one year or beyond the operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash inflow from issuance of rights to purchase common shares at predetermined price (usually issued together with corporate debt). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow for a long-term debt where the holder has highest claim on the entity's asset in case of bankruptcy or liquidation during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Including the current and noncurrent portions, carrying value as of the balance sheet date of Notes with the highest claim on the assets of the issuer in case of bankruptcy or liquidation (with maturities initially due after one year or beyond the operating cycle if longer). Senior note holders are paid off in full before any payments are made to junior note holders. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Percentage Thresholds For Potential Shares To Be Issued No definition available.
|
| X | ||||||||||
|
- Definition
Represents the compensation cost capitalized during the period arising from equity-based compensation arrangements (for example, shares of stock, units, stock options or other equity instruments) with employees, directors and certain consultants qualifying for treatment as employees. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Period which an employee's right to exercise an award is no longer contingent on satisfaction of either a service condition, market condition or a performance condition, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The number of grants made during the period on other than stock (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Description of the method used for calculating compensation cost for the award under the plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The maximum number of shares (or other type of equity) originally approved (usually by shareholders and board of directors), net of any subsequent amendments and adjustments, for awards under the equity-based compensation plan. As stock or unit options and equity instruments other than options are awarded to participants, the shares or units remain authorized and become reserved for issuance under outstanding awards (not necessarily vested). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Number of share instruments newly issued under a share-based compensation plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Financial Impact of Stock-Based Compensation Expense (Detail) (USD $)
In Thousands, except Per Share data, unless otherwise specified |
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
|
Sep. 30, 2012
|
Sep. 30, 2011
|
Sep. 30, 2012
|
Sep. 30, 2011
|
|
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
| Income before taxes | $ 12,114 | $ (296) | $ 41,601 | $ (25,162) |
| Net income | 7,401 | (741) | 25,722 | (16,802) |
| Earnings per common share: | ||||
| Basic | $ 0.21 | $ (0.03) | $ 0.73 | $ (0.63) |
| Diluted | $ 0.20 | $ (0.03) | $ 0.71 | $ (0.63) |
|
Stock Based Compensation Expense
|
||||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
| Income before taxes | 3,729 | 1,728 | 8,164 | 5,654 |
| Net income | $ 2,278 | $ 280 | $ 5,045 | $ 3,777 |
| Earnings per common share: | ||||
| Basic | $ 0.06 | $ 0.01 | $ 0.14 | $ 0.14 |
| Diluted | $ 0.06 | $ 0.01 | $ 0.14 | $ 0.14 |
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
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. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Sum of operating profit and nonoperating income or expense before Income or Loss from equity method investments, income taxes, extraordinary items, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
|
Commitments and Contingencies - Additional Information (Detail) (USD $)
In Millions, unless otherwise specified |
12 Months Ended | 1 Months Ended | 11 Months Ended | 1 Months Ended | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Sep. 30, 2012
|
Dec. 31, 2011
Brazil
Vessel
|
Dec. 31, 2010
Brazil
Vessel
|
Sep. 30, 2012
Brazil
|
Nov. 30, 2011
Newbuild program #5
|
Sep. 30, 2012
Newbuild program #5
|
Nov. 30, 2011
Newbuild program #5
Fiscal Year 2013
Vessel
|
Nov. 30, 2011
Newbuild program #5
Fiscal Year 2014
Vessel
|
Nov. 30, 2011
Newbuild program #5
Fiscal Year 2015
Vessel
|
Nov. 30, 2011
Newbuild program #5
Offshore Supply Vessel Class Three Hundred
Vessel
|
Nov. 30, 2011
Newbuild program #5
Offshore Supply Vessel Class Three Hundred Ten
Vessel
|
Nov. 30, 2011
Newbuild program #5
Offshore Supply Vessel Class Three Hundred Twenty
Vessel
|
Sep. 30, 2012
OSV Retrofit Program
200 class DP-1 Offshore Supply Vessels
Vessel
|
Sep. 30, 2012
OSV Retrofit Program
200 class DP-1 Offshore Supply Vessels
December 2012
Vessel
|
Sep. 30, 2012
OSV Retrofit Program
200 class DP-1 Offshore Supply Vessels
May 2013
Vessel
|
Sep. 30, 2012
OSV Retrofit Program
200 class DP-1 Offshore Supply Vessels
August 2013
Vessel
|
Sep. 30, 2012
OSV Retrofit Program
200 class DP-1 Offshore Supply Vessels
December 2013
Vessel
|
|
| Commitments and Contingencies Disclosure [Line Items] | |||||||||||||||||
| Number of vessels to be constructed | 4 | 6 | 10 | ||||||||||||||
| Number of vessels expected to be placed in service | 20 | 5 | 13 | 2 | |||||||||||||
| Aggregate cost of OSV newbuild program excluding construction period interest | $ 900.0 | ||||||||||||||||
| Cost incurred on OSV newbuild program | 187.0 | ||||||||||||||||
| Percentage of total project cost | 20.80% | 4.60% | |||||||||||||||
| Number of vessels to upgrade and stretch | 6 | ||||||||||||||||
| Aggregate cost of OSV retrofit program | 50.0 | ||||||||||||||||
| Cost of OSV retrofit program, per vessel | 8,300,000 | ||||||||||||||||
| Aggregate vessel-days of commercial downtime | 762 days | ||||||||||||||||
| Vessel-days of commercial downtime, per vessel | 127 days | ||||||||||||||||
| Number of vessels to arrive for upgrade and stretch | 2 | ||||||||||||||||
| Number of vessels to be re-delivered for upgrade and stretch | 2 | 2 | 2 | ||||||||||||||
| Cost incurred on OSV retrofit program | 2.3 | ||||||||||||||||
| Number of vessels mobilized to brazil to operate under long term contracts for Petrobras | 12 | 12 | |||||||||||||||
| Company's exposure to claims, net of amount accrued, low range | 0.5 | ||||||||||||||||
| Company's exposure to claims, net of amount accrued, high range | 8.0 | ||||||||||||||||
| Amount owed by ATP, net of reserves | 4.7 | ||||||||||||||||
| Amount owed by ATP, reserves | $ 0.9 | ||||||||||||||||
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Costs Incurred for Offshore Supply Vessels Newbuild Program Net of Capitalized Interest No definition available.
|
| X | ||||||||||
|
- Definition
Costs Incurred for Offshore Supply Vessels Retrofit Program No definition available.
|
| X | ||||||||||
|
- Definition
Estimated Construction Cost No definition available.
|
| X | ||||||||||
|
- Definition
Estimated Retrofit Program, Aggregate Cost No definition available.
|
| X | ||||||||||
|
- Definition
Estimated Retrofit Program Cost No definition available.
|
| X | ||||||||||
|
- Definition
Estimated Vessel Days of Commercial Downtime No definition available.
|
| X | ||||||||||
|
- Definition
Estimated Vessel Days of Commercial Downtime Per Vessel No definition available.
|
| X | ||||||||||
|
- Definition
Loss Contingency, Estimate of Possible Loss, Related Reserves No definition available.
|
| X | ||||||||||
|
- Definition
Number of Vessels No definition available.
|
| X | ||||||||||
|
- Definition
Number of Vessels Mobilized No definition available.
|
| X | ||||||||||
|
- Definition
Number of vessels to arrive for upgrade and stretch No definition available.
|
| X | ||||||||||
|
- Definition
Number of vessels to be constructed No definition available.
|
| X | ||||||||||
|
- Definition
Number of vessels to be re-delivered for upgrade and stretch No definition available.
|
| X | ||||||||||
|
- Definition
Number of Vessels to Upgrade and Stretch No definition available.
|
| X | ||||||||||
|
- Definition
Percentage of Total Project cost No definition available.
|
| X | ||||||||||
|
- Definition
Reflects the estimated amount of loss from the specified contingency as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
The estimated maximum amount of possible loss from the contingency. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
The estimated minimum amount of possible loss from the contingency. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Deferred Charges (Detail) (USD $)
In Thousands, unless otherwise specified |
Sep. 30, 2012
|
Dec. 31, 2011
|
|---|---|---|
| Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Line Items] | ||
| Deferred drydocking costs, net of accumulated amortization of $25,588 and $22,772, respectively | $ 45,191 | $ 28,722 |
| Deferred financing costs, net of accumulated amortization of $9,140 and $11,634 respectively | 23,052 | 13,488 |
| Prepaid lease expense, net of amortization of $1,028 and $909, respectively | 3,361 | 3,479 |
| Other deferred charges | 2,055 | 2,092 |
| Total | $ 73,659 | $ 47,781 |
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Deferred drydocking costs, Net No definition available.
|
| X | ||||||||||
|
- Definition
Sum of the carrying amounts of deferred costs that are expected to be recognized as a charge against earnings in periods after one year or beyond the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This element represents costs incurred by the lessor that are (a) costs to originate a lease incurred in transactions with independent third parties that (i) result directly from and are essential to acquire that lease and (ii) would not have been incurred had that leasing transaction not occurred and (b) certain costs directly related to specified activities performed by the lessor for that lease. Those activities are: evaluating the prospective lessee's financial condition; evaluating and recording guarantees, collateral, and other security arrangements; negotiating lease terms; preparing and processing lease documents; and closing the transaction. This element is net of accumulated amortization. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
For an unclassified balance sheet, the carrying amount (net of accumulated amortization) as of the balance sheet date of capitalized costs associated with the issuance of debt instruments (for example, legal, accounting, underwriting, printing, and registration costs) that will be charged against earnings over the life of the debt instruments to which such costs pertain. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Net amount of other deferred costs capitalized at the end of the reporting period. Does not include deferred finance costs or deferred acquisition costs of insurance companies. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Deferred Charges (Parenthetical) (Detail) (USD $)
In Thousands, unless otherwise specified |
Sep. 30, 2012
|
Dec. 31, 2011
|
|---|---|---|
| Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Line Items] | ||
| Deferred drydocking costs, accumulated amortization | $ 25,588 | $ 22,772 |
| Deferred financing costs, accumulated amortization | 9,140 | 11,634 |
| Prepaid lease expense, amortization | $ 1,028 | $ 909 |
| X | ||||||||||
|
- Definition
Accumulated Amortization, Deferred drydocking cost No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
For an unclassified balance sheet, the accumulated amortization, as of the reporting date, representing the periodic charge to earnings of deferred costs which are associated with debt obligations existing as of the end of the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
For an unclassified balance sheet, the accumulated amortization, as of the reporting date, which represents the periodic charge to earnings of initial direct costs which have been deferred and are being allocated over the lease term in proportion to the recognition of rental income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Segment Information - Additional Information (Detail)
|
9 Months Ended |
|---|---|
|
Sep. 30, 2012
Segment
|
|
| Segment Reporting Disclosure [Line Items] | |
| Number of business segments | 2 |
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Number of operating segments. An operating segment is a component of an enterprise: (a) that engages in business activities from which it may earn revenues and incur expenses (including revenues and expenses relating to transactions with other components of the same enterprise), (b) whose operating results are regularly reviewed by the enterprise's chief operating decision maker to make decisions about resources to be allocated to the segment and assess its performance, and (c) for which discrete financial information is available. An operating segment may engage in business activities for which it has yet to earn revenues, for example, start-up operations may be operating segments before earning revenues. No definition available.
|
|
Segment Information (Detail) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | 9 Months Ended | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Sep. 30, 2012
|
Sep. 30, 2011
|
Sep. 30, 2012
|
Sep. 30, 2011
|
Dec. 31, 2011
|
||||||||||
| Segment Reporting Disclosure [Line Items] | ||||||||||||||
| Revenues | $ 127,939 | $ 105,827 | $ 379,557 | $ 258,911 | ||||||||||
| Operating expenses | 67,159 | 62,744 | 189,824 | 152,780 | ||||||||||
| Depreciation | 15,124 | 15,230 | 45,377 | 45,759 | ||||||||||
| Amortization | 6,688 | 5,155 | 19,712 | 15,320 | ||||||||||
| General and administrative expenses | 12,943 | 9,045 | 36,150 | 27,406 | ||||||||||
| Gain (loss) on sale of assets | 267 | 976 | 264 | 1,535 | ||||||||||
| Operating income | 26,292 | 14,629 | 88,758 | 19,181 | ||||||||||
| Capital expenditures | 77,452 | 11,076 | 169,684 | 23,968 | ||||||||||
| Assets | 2,596,310 | 2,596,310 | 2,136,346 | |||||||||||
| Property, plant and equipment, net | 1,729,484 | 1,729,484 | 1,605,785 | |||||||||||
|
Upstream
|
||||||||||||||
| Segment Reporting Disclosure [Line Items] | ||||||||||||||
| Revenues | 115,087 | 91,953 | 344,678 | 221,258 | ||||||||||
| Operating expenses | 59,922 | 53,733 | 168,250 | 127,871 | ||||||||||
| Depreciation | 13,000 | 13,086 | 39,005 | 39,376 | ||||||||||
| Amortization | 5,289 | 3,953 | 15,287 | 11,434 | ||||||||||
| General and administrative expenses | 12,031 | 8,364 | 33,466 | 24,991 | ||||||||||
| Gain (loss) on sale of assets | (357) | 976 | (360) | 976 | ||||||||||
| Operating income | 24,488 | 13,793 | 88,310 | 18,562 | ||||||||||
| Capital expenditures | 73,856 | 10,008 | 164,256 | 21,601 | ||||||||||
| Assets | 2,356,170 | 2,356,170 | 1,915,137 | |||||||||||
| Property, plant and equipment, net | 1,553,147 | 1,553,147 | 1,425,634 | |||||||||||
|
Upstream | Domestic
|
||||||||||||||
| Segment Reporting Disclosure [Line Items] | ||||||||||||||
| Revenues | 81,963 | 51,057 | 223,006 | 118,815 | ||||||||||
| Property, plant and equipment, net | 1,289,263 | 1,289,263 | 965,535 | |||||||||||
|
Upstream | Foreign
|
||||||||||||||
| Segment Reporting Disclosure [Line Items] | ||||||||||||||
| Revenues | 33,124 | [1] | 40,896 | [1] | 121,672 | [1] | 102,443 | [1] | ||||||
| Property, plant and equipment, net | 263,884 | [1] | 263,884 | [1] | 460,099 | [1] | ||||||||
|
Downstream
|
||||||||||||||
| Segment Reporting Disclosure [Line Items] | ||||||||||||||
| Revenues | 12,852 | 13,874 | 34,879 | 37,653 | ||||||||||
| Operating expenses | 7,237 | 9,011 | 21,574 | 24,909 | ||||||||||
| Depreciation | 2,124 | 2,144 | 6,372 | 6,383 | ||||||||||
| Amortization | 1,399 | 1,202 | 4,425 | 3,886 | ||||||||||
| General and administrative expenses | 912 | 681 | 2,684 | 2,415 | ||||||||||
| Gain (loss) on sale of assets | 624 | 624 | 559 | |||||||||||
| Operating income | 1,804 | 836 | 448 | 619 | ||||||||||
| Capital expenditures | 2,014 | 530 | 3,018 | 1,377 | ||||||||||
| Assets | 206,976 | 206,976 | 197,876 | |||||||||||
| Property, plant and equipment, net | 170,456 | 170,456 | 174,371 | |||||||||||
|
Downstream | Domestic
|
||||||||||||||
| Segment Reporting Disclosure [Line Items] | ||||||||||||||
| Revenues | 10,252 | 11,628 | 27,680 | 31,932 | ||||||||||
| Property, plant and equipment, net | 142,164 | 142,164 | 146,027 | |||||||||||
|
Downstream | Foreign
|
||||||||||||||
| Segment Reporting Disclosure [Line Items] | ||||||||||||||
| Revenues | 2,600 | [1],[2] | 2,246 | [1],[2] | 7,199 | [1],[2] | 5,721 | [1],[2] | ||||||
| Property, plant and equipment, net | 28,292 | [1],[2] | 28,292 | [1],[2] | 28,344 | [1],[2] | ||||||||
|
Corporate
|
||||||||||||||
| Segment Reporting Disclosure [Line Items] | ||||||||||||||
| Capital expenditures | 1,582 | 538 | 2,410 | 990 | ||||||||||
| Assets | 33,164 | 33,164 | 23,333 | |||||||||||
| Property, plant and equipment, net | $ 5,881 | $ 5,881 | $ 5,780 | |||||||||||
|
||||||||||||||
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The amount of amortization of deferred charges applied against earnings during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- 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. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of expense recognized in the current period that reflects the allocation of the cost of tangible assets over the assets' useful lives. Includes production and non-production related depreciation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The gains (losses) included in earnings resulting from the sale or disposal of tangible assets. This item does not include any gain (loss) recognized on the sale of oil and gas property or timber property. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Excludes Selling, General and Administrative Expense. No definition available.
|
| X | ||||||||||
|
- Definition
The net result for the period of deducting operating expenses from operating revenues. No definition available.
|
| X | ||||||||||
|
- Definition
The cash outflow for purchases of and capital improvements on property, plant and equipment (capital expenditures), software, and other intangible assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount, net of accumulated depreciation, depletion and amortization, of long-lived physical assets used in the normal conduct of business and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, furniture and fixtures, and computer equipment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Aggregate revenue recognized during the period (derived from goods sold, services rendered, insurance premiums, or other activities that constitute an entity's earning process). For financial services companies, also includes investment and interest income, and sales and trading gains. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|