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Accounts receivable, net of allowance for doubtful accounts of $3,987 and $1,123, respectively

$ 121,490

$ 224,936

66,995

54,924

Other current assets

20,510

19,768

Total current assets

208,995

299,628

Restricted cash, noncurrent

2,342,763

2,434,829

52,136

Deferred charges, net

35,915

22,525

Right of use assets

23,492

$ 24,700

Other assets

5,586

7,655

Total assets

2,668,887

2,764,637

Current liabilities:

Accounts payable

30,093

26,826

Accrued interest

16,950

15,910

Accrued payroll and benefits

11,980

12,445

Current portion of long-term debt, including deferred net gain of $31,718 and $0, net of original issue discount of $3,084 and $2,725 and deferred financing costs of $10,292 and $611, respectively

1,263,890

^[1]

96,311

Lease liabilities, current

2,953

Other accrued liabilities

11,618

9,750

Long-term debt, including deferred net gain of $0 and $15,845, and net of original issue discount of $0 and $3,013 and deferred financing costs of $0 and $6,149, respectively

1,337,484

161,242

1,123,625

Lease liabilities, noncurrent

132,526

169,122

24,219

Other liabilities

2,213

2,722

Total liabilities

1,496,442

1,456,711

Stockholders’ equity:

Preferred stock: $0.01 par value; 5,000 shares authorized; no shares issued and outstanding

Common stock: $0.01 par value; 100,000 shares authorized; 38,096 and 37,701 shares issued and outstanding, respectively

381

377

Accumulated other comprehensive loss

766,779

761,834

Retained earnings

408,789

549,475

(3,504)

(3,760)

Total stockholders’ equity

1,172,445

1,307,926

$ 1,437,924

Total liabilities and stockholders’ equity

$ 2,668,887

$ 2,764,637

[1]	On March 2, 2020, the Company did not make the interest payment on the 2021 senior notes that was due on such date. As a result of this and cross-default language in its remaining debt obligations, the Company has determined that all of its debt should be presented as current.

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Allowance for doubtful accounts	$ 3,987	$ 1,123
Current portion of long-term debt, original issue discount	3,084	2,725
Current portion of long-term debt, deferred financing costs	10,292	611
Long-term debt, deferred gain	0	15,845
Long-term debt, original issue discount	0	3,013
Deferred financing costs	$ 0	$ 6,149
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.01	$ 0.01
Common Stock, Shares Authorized	100,000,000	100,000,000
Common stock, shares issued	38,096,000	37,701,000
Common stock, shares outstanding	38,096,000	37,701,000

Consolidated Statements Of Operations - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Revenue from Contract with Customer, Excluding Assessed Tax	$ 225,662	$ 212,404
Revenues	225,662	212,404
Costs and expenses:
Operating expenses	164,630	147,642
Depreciation	98,339	98,927
Amortization	15,974	9,741
General and administrative expenses	53,880	43,530
Costs and Expenses, Total	332,823	299,840
Gain on sale of assets	62	59
Operating loss	(107,099)	(87,377)
Other income (expense):
Loss on early extinguishment of debt, net	(71)	0
Interest income	4,488	2,228
Interest expense	(83,380)	(63,566)
Other income (expense), net	10,255	(29)
Nonoperating Income (Expense)	(68,708)	(61,367)
Loss before Income Taxes	(175,807)	(148,744)
Income tax benefit	(36,993)	(29,621)
Net loss	$ (138,814)	$ (119,123)
Basic loss per common share	$ (3.66)	$ (3.18)
Diluted loss per common share	$ (3.66)	$ (3.18)
Weighted average basic shares outstanding	37,914	37,508
Weighted average diluted shares outstanding	37,914	37,508
Vessel Revenues [Member]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 188,319	$ 175,767
Non-vessel revenues [Member]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 37,343	$ 36,637

Consolidated Statements Of Comprehensive Income (Loss) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Net loss	$ (138,814)	$ (119,123)
Foreign currency translation loss, net	(1,616)	(12,437)
Other comprehensive loss:
Total comprehensive loss	$ (140,430)	$ (131,560)

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

+ References + Details

Consolidated Statements Of Changes In Stockholders' Equity - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive Income
Beginning Balance (in shares) at Dec. 31, 2017		37,144
Beginning Balance at Dec. 31, 2017	$ 1,437,924	$ 371	$ 760,278	$ 668,598	$ 8,677
Shares issued under employee benefit programs, Shares		556
Shares issued under employee benefit programs	(136)	$ 6	(142)
Stock-based compensation expense	1,698		1,698
Net loss	(119,123)			(119,123)
Foreign currency translation loss, net	(12,437)				(12,437)
Ending Balance (in shares) at Dec. 31, 2018		37,700
Ending Balance at Dec. 31, 2018	1,307,926	$ 377	761,834	549,475	(3,760)
Shares issued under employee benefit programs, Shares		396
Shares issued under employee benefit programs	13	$ 4	9
Stock-based compensation expense	4,936		4,936
Net loss	(138,814)			(138,814)
Foreign currency translation loss, net	(1,616)				(1,616)
Adoption of ASU 2018-02				(1,872)	1,872
Ending Balance (in shares) at Dec. 31, 2019		38,096
Ending Balance at Dec. 31, 2019	$ 1,172,445	$ 381	$ 766,779	$ 408,789	$ (3,504)

Summary of Significant Accounting Policies

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

+ References + Details

Consolidated Statements of Cash Flow Statement - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Cash and cash equivalents	$ 121,490	$ 224,936
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	(138,814)	(119,123)
Adjustments to reconcile net income (loss) to cash provided by (used in) operating activities:
Depreciation	98,339	98,927
Amortization	15,974	9,741
Stock-based compensation expense	3,590	3,692
Loss on early extinguishment of debt, net	(71)	0
Provision for bad debts	2,864	(156)
Deferred tax benefit	(36,127)	(25,042)
Amortization of deferred financing costs	6,016	7,487
Amortization of Deferred Gain	(6,245)	(3,066)
Gain on sale of assets	62	59
Changes in operating assets and liabilities:
Accounts receivable	(15,410)	(10,285)
Other current and long-term assets	2,417	1,256
Deferred drydocking charges	33,094	10,939
Accounts payable	6,544	4,621
Accrued liabilities and other liabilities	9,744	1,235
Accrued interest	1,041	1,871
Net cash used in operating activities	(87,986)	(42,352)
CASH FLOWS FROM INVESTING ACTIVITIES:
Acquisition of offshore supply vessels	0	(40,868)
Costs incurred for OSV newbuild program 5	3,344	3,696
Net proceeds from sale of assets	68	86
Vessel capital expenditures	3,898	7,915
Non-vessel capital expenditures	377	131
Net cash used in investing activities	(7,551)	(52,524)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from first-lien term loans	29,159	133,944
Proceeds from senior credit facility	100,000	0
Repurchase of convertible notes	(73,076)	0
Payment of deferred financing costs	11,891	0
Shares withheld for payment of employee withholding taxes	0	536
Net cash proceeds from other shares issued	135	397
Net cash provided by financing activities	44,327	133,805
Effects of exchange rate changes on cash	(100)	(842)
Net increase (decrease) in cash, cash equivalents and restricted cash	(51,310)	38,087
Cash, cash equivalents and restricted cash	173,626	224,936
SUPPLEMENTAL DISCLOSURES OF CASH FLOW ACTIVITIES:
Cash paid for interest	82,415	59,469
Cash paid for (refunds of) income taxes	(3,589)	942
Convertible One Point Five Percent Senior Notes Due Twenty Nineteen [Member]
Exchange of notes for term loans	20,951	0
Adjustments to reconcile net income (loss) to cash provided by (used in) operating activities:
Loss on early extinguishment of debt, net	3,600
Senior Notes 5.875 Percent Due 2020
Exchange of notes for term loans	$ 142,629	$ 0

Organization	12 Months Ended
Organization	Dec. 31, 2019
Text Block [Abstract]
Organization	Organization Nature of Operations and Basis of Presentation Hornbeck Offshore Services, Inc., or the Company, was incorporated in the state of Delaware in 1997. The Company, through its subsidiaries, operates offshore supply vessels, or OSVs, multi-purpose support vessels, or MPSVs, and a shore-base facility to provide logistics support and specialty services to the offshore oil and gas exploration and production industry, primarily in the U.S. Gulf of Mexico, or the GoM, Latin America and select international markets, as well as specialty services for the U.S. military. The consolidated financial statements include the accounts of Hornbeck Offshore Services, Inc. and its subsidiaries. All significant intercompany accounts and transactions have been eliminated.

Recent Developments	12 Months Ended
Recent Developments	Dec. 31, 2019
Reorganizations [Abstract]
Recent Developments	Recent Developments Joint Prepackaged Chapter 11 Plan of Reorganization Effective April 13, 2020, the Company, on behalf of itself and certain of its subsidiaries, together with the Company, collectively, the Debtors, entered into a Restructuring Support Agreement, or the RSA, with secured lenders holding approximately 83% of the Company’s aggregate secured indebtedness and unsecured noteholders holding approximately 79% of the Company’s aggregate unsecured notes outstanding related to a balance sheet restructuring of the Company to be implemented through a voluntary prepackaged Chapter 11 case in the United States Bankruptcy Court for the Southern District of Texas, Houston Division, or the Bankruptcy Court. Despite the Company's extensive efforts to negotiate and launch an out-of-court debt-for-debt exchange transaction to address its outstanding 2020 senior notes and 2021 senior notes, it became evident in 2020 that an in-court process would be necessary to maximize value for the Company and its stakeholders while positioning it for long-term success. In March and April 2020, the Company experienced multiple events of defaults under the existing 2020 senior notes and 2021 senior notes, which included non-payment of principal and interest on the 2020 senior notes, nonpayment of interest on the 2021 senior notes and related cross-defaults. Cross-defaults were also triggered under the Company’s existing senior credit agreement, first lien term loan agreement and second lien term loan agreement. The Company, together with the administrative agents and certain of its lenders under its existing senior credit agreement, first lien term loan agreement and second lien term loan agreement, and certain holders of the Company’s 2020 senior notes and 2021 senior notes entered into separate forbearance agreements, which were subsequently extended to May 19, 2020 pursuant to which such lenders and noteholders agreed to forbear from exercising certain of their rights and remedies with respect to certain defaults by the Company. On May 19, 2020, in accordance with the RSA, the Company sought voluntary relief under chapter 11 of the United States Bankruptcy Code, or the Chapter 11 Cases, in the Bankruptcy Court and filed a proposed joint prepackaged plan of reorganization, or the Plan. On June 19, 2020, after a confirmation hearing, the Bankruptcy Court entered a confirmation order approving the Plan. The Plan will become effective after the conditions to its effectiveness have been satisfied. The effect of the Plan is to de-lever the Company’s balance sheet through a conversion into equity or warrants or both of 1) a portion of the $350 million in first-lien term loans that mature in June 2023; 2) $121 million in second-lien term loans that mature in February 2025; 3) $224 million outstanding under our 2020 senior notes indenture, and; 4) $450 million outstanding under our 2021 senior notes indenture. The holders of first-lien term loans will also receive their pro rata portion of the second-lien term loans issued as part of the Exit Financings. All pre-petition equity interests in the Company will be cancelled, released, and extinguished on the effective date of the Plan, and will thereafter be of no further force or effect. Holders of other claims will either receive payment in full in cash or otherwise have their rights reinstated under the Bankruptcy Code, or such claims will be cancelled, released, discharged, and extinguished or be given such other treatment as set forth in the Plan. In addition, upon emergence from the Chapter 11 Cases, pursuant to a rights offering of shares of the Company’s new common stock, or the Rights Offering, the Company will receive from certain pre-petition secured and unsecured creditors an equity investment of $100 million. Additionally, the Company will enter into a new first-lien term loan in an aggregate principal amount to determined in accordance with the Plan and will have a maturity date on the fourth anniversary of the Closing date. The Company will also enter into a new second-lien term loan in an aggregate principal amount determined in accordance with the Plan and a maturity date of March 31, 2026. The Company anticipates emerging from the Chapter 11 Cases upon receipt of certain governmental approvals from U.S. and other governmental authorities. The Company expects to receive the required approvals promptly following the completion by such governmental authorities of their reviews. In addition, the Company will be required to finalize the terms of the Exit Financings prior to emergence. DIP Credit Agreement In connection with the filing of the Plan, on May 22, 2020, the Debtors entered into a debtor-in-possession credit agreement on the terms set forth in a Superpriority Debtor-in-Possession Term Loan Agreement, or the DIP Credit Agreement, by and among the Company, as Parent Borrower, Hornbeck Offshore Services, LLC, as Co-Borrower, the lenders party thereto, or the DIP Lenders, and Wilmington Trust, National Association, as Administrative Agent and Collateral Agent, pursuant to which, the DIP Lenders agreed to provide us with loans in an aggregate principal amount not to exceed $75 million that, among other things, was used to repay in full $50 million in loans outstanding under our Senior Credit Agreement on May 22, 2020, and to finance our ongoing general corporate needs during the course of the Chapter 11 Cases. The maturity date of the DIP Credit Agreement is six months following the effective date of the DIP Credit Agreement. The DIP Credit Agreement contains customary events of default, including events related to the Chapter 11 Cases, the occurrence of which could result in the acceleration of our obligation to repay the outstanding indebtedness under the DIP Credit Agreement. Our obligations under the DIP Credit Agreement are secured by a first priority security interest in, and lien on, substantially all of our present and after-acquired property (whether tangible, intangible, real, personal or mixed) and has been guaranteed by all of the Company’s material subsidiaries. As of June 30, 2020, the Company has $75 million outstanding under the DIP Credit Agreement. Going Concern Since the second half of 2014, the offshore oil service sector has experienced difficult operating conditions due to the reduced price of oil. This low oil price environment caused many of the Company's customers to reduce their budgets for the worldwide exploration or production of oil. This reduced spending has negatively impacted the Company's financial results. There is significant uncertainty surrounding when and by how much oil prices will recover, and whether that recovery will result in increased demand for the Company's services. As discussed in Note 9, the Company’s 2020 senior notes had scheduled maturities in April 2020 and the Company’s 2021 senior notes have scheduled maturities in March 2021. Despite our extensive efforts to negotiate and launch an out-of-court debt-for-debt exchange transaction, after the advent of the COVID-19 pandemic and the oil price war in March 2020, it became evident that an in-court process would be necessary to maximize value for us and our stakeholders while positioning us for long-term success. On May 19, 2020, the Company sought voluntary relief under chapter 11 of the United States Bankruptcy Code in the Bankruptcy Court and filed a proposed joint prepackaged plan of reorganization. As a result of its financial condition, the defaults under our credit agreements and the uncertainties surrounding the Chapter 11 Cases, substantial doubt exists regarding our ability to continue as a going concern. On June 19, 2020, the Bankruptcy Court issued a confirmation order approving the Plan, which remains subject to consummation. The accompanying consolidated financial statements have been prepared assuming the Company will continue as a going concern, which contemplates continuity of operations, realization of assets and the satisfaction of liabilities in the normal course of business for the twelve-month period following the date of these consolidated financial statements. As such, the accompanying consolidated financial statements do not include any adjustments relating to the recoverability and classification of assets and their carrying amounts, or the amount and classification of liabilities that may result should the Company be unable to continue as a going concern.

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2019

Revenue Recognition

Cash and Cash Equivalents

Cash and cash equivalents consist of all highly liquid investments in money market funds, deposits and investments available for current use with an initial maturity of three months or less.

Restricted Cash

The company considers cash as restricted when there are contractual agreements that govern the use or withdrawal of the funds.

Accounts Receivable

Accounts receivable consists of trade receivables, net of reserves and amounts to be rebilled to customers.

Property, Plant and Equipment

Property, plant and equipment is recorded at cost. Depreciation and amortization of equipment and leasehold improvements are computed using the straight-line method based on the estimated useful lives of the related assets. Major modifications and improvements, which extend the useful life or functional operating capability of the vessel, are capitalized and amortized over the remaining useful life of the vessel. Gains and losses from retirements or other dispositions are recognized as incurred. Salvage values for new generation marine equipment are estimated to be 25% of the originally recorded cost.

The estimated useful lives by classification are as follows:



Offshore supply vessels		25 years
Multi-purpose support vessels		25 years
Non-vessel related property, plant and equipment		3-28 years

See Asset Impairment Assessment below for more information.

Deferred Charges

The Company’s vessels are required by regulation to be recertified after certain periods of time. The Company defers the drydocking expenditures incurred due to regulatory marine inspections and amortizes the costs on a straight-line basis over the period to be benefited from such expenditures (typically between 24 and 36 months). Financing charges are amortized over the term of the related debt.

Prior to the Adoption of ASC 842, Leases, on January 1, 2019, Deferred charges also included prepaid lease expenses related to the Company’s shore-base port facility. Such prepaid lease expenses were amortized on a straight-line basis over the effective remaining term of the lease.

Mobilization Costs

The Company incurs mobilization costs to transit its vessels to and from certain regions and/or for long-term contracts. These costs, which are typically expensed as incurred, include, but are not limited to, fuel, crew wages, vessel modification and pre-positioning expenses, materials and supplies and importation taxes.

Income Taxes

Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using currently enacted tax rates. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. The provision for income taxes includes provisions for federal, state and foreign income taxes. Interest and penalties relating to uncertain tax positions are recorded as general and administrative expenses. In addition, the Company provides a valuation allowance for deferred tax assets if it is more likely than not that such items will either expire before the Company is able to realize the benefit or the future deductibility is uncertain. For the three-year period ended December 31, 2019, the Company has a cumulative pre-tax loss, which limits its ability to consider other subjective evidence, such as the Company’s projections of future earnings. As of December 31, 2019, the Company determined it is more likely than not that a portion of deferred tax assets may not be utilized prior to their expiration and therefore has established a valuation allowance of $33.3 million recorded against its deferred tax assets.

Use of Estimates

The preparation of financial statements in conformity with United States generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates.

Legal Liabilities

In the ordinary course of business, the Company may become party to lawsuits, administrative proceedings, or governmental investigations. These matters may involve large or unspecified damages or penalties that may be sought from the Company and may require years to resolve. The Company records a liability related to a loss contingency to such legal matters in accrued liabilities if the Company determines the loss to be both probable and estimable. The liability is recorded for an amount that is management’s best estimate of the loss, or when a best estimate cannot be made, the minimum loss amount of a range of possible outcomes. Significant judgment is required in estimating such liabilities, the results of which can vary significantly from the actual outcomes of lawsuits, administrative proceedings or governmental investigations.

Concentration of Credit Risk

Customers are primarily major and independent, domestic and international, oil and oil service companies, as well as national oil companies and the U.S. military. The Company’s customers are granted credit on a short-term basis and related credit risks are considered minimal. The Company usually does not require collateral. The Company provides an estimate for uncollectible accounts based primarily on management’s judgment using the relative age of customer balances, historical losses, current economic conditions and individual evaluations of each customer to make adjustments to the allowance for doubtful accounts.

The following table represents the allowance for doubtful accounts (in thousands):



	December 31,
	2019		2018
Balance, beginning of year	$	1,123	$	6,054
Changes to provision	2,864		(156		)
Write-offs	—		(4,775		)
Balance, end of year	$	3,987	$	1,123

Foreign Currency Transaction Gains and Losses

Foreign currency transaction gains and losses are recorded in the period incurred except for advances to and investments in foreign subsidiaries. Foreign currency gains and losses related to advances to or investments in foreign operations are accounted for as a foreign currency translation adjustment and recorded as other comprehensive income. Foreign currency transaction adjustments for 2019 and 2018 were not material to the financial statements. The balance in accumulated other comprehensive income (loss) as of December 31, 2019 and 2018 relates primarily to the Company’s long term investments in its foreign subsidiaries.

Asset Impairment Assessment

In accordance with ASC 360, the Company periodically reviews long-lived asset valuations when events or changes in circumstances indicate that an asset’s carrying value may not be recoverable. If indicators of impairment exist, the Company assesses the recoverability of its long-lived assets by comparing the projected future undiscounted cash flows associated with the related long-lived asset group over their remaining estimated useful lives. If the sum of the estimated undiscounted cash flows are less than the carrying amounts of the asset group, the assets are written down to their estimated fair values based on the expected discounted future cash flows or appraised values attributable to the assets. The future cash flows are subjective and are based on the Company’s current assumptions regarding future dayrates, utilization, operating expense, direct overhead, including G&A expense, and recertification costs that could differ from actual results.

During the second quarter of 2016, the Company determined that it observed indicators of impairment related to its vessels. This resulted from the rapid deterioration of its second quarter 2016 operating results, as well as the uncertainty regarding future market conditions and the related impact on the Company's projected operating results. For the purpose of calculating the undiscounted cash flows, the Company grouped its vessels into two groups, OSVs and MPSVs, and used a probability-weighted undiscounted cash flow projection to test for recoverability. If events or changes in circumstances as set forth above were to indicate that the asset group’s carrying amount may not be recoverable over the vessels' useful lives for such groups, we would then be required to estimate the future undiscounted cash flows expected to result from the use of the asset group and its eventual disposition. If the sum of the expected future undiscounted cash flows was determined to be less than the carrying amount of the vessels, we would be required to reduce the carrying amount to fair value. Included in the cash flow projections were assumptions related to the current mix of active and stacked vessels, the timing of stacked vessels returning to active status along with projected dayrates, operating expenses and overhead expenses related to each of the groupings.

While the Company has not observed any new impairment indicators since 2016, it has reviewed and updated, as necessary, the assumptions used in determining its undiscounted cash flow projections for each asset group to reflect prevailing market conditions. After reviewing the results of these projections, which were last updated in 2019, the Company determined that each of its asset groups continue to have sufficient projected undiscounted cash flows to recover the remaining book value of the Company's long-lived assets within such group.

Recent Accounting Pronouncements

The following table provides a brief description of recent accounting pronouncements that could have a material effect on the Company's financial statements:



Standard	Description	Date of Adoption	Effect on the financial statements and other significant matters



Standards that have been adopted
ASU No. 2016-02, "Leases" (Topic 842)	This standard requires lessees to recognize a lease liability and a right-of-use asset for all leases (with the exception of short-term leases) at the commencement date. ASU 2016-02 requires a modified retrospective application. Early adoption is permitted.	January 1, 2019	The Company adopted this ASU effective January 1, 2019. See further discussion below and in footnote 13.

ASU No. 2018-02, "Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income"	This standard allows companies to reclassify items in accumulated other comprehensive income to retained earnings for stranded tax effects resulting from The Tax Cuts and Jobs Act.	January 1, 2019	The Company adopted ASU No. 2018-02 on January 1, 2019. This adoption had no material impact on its consolidated financial statements.

ASU No. 2018-09, "Codification Improvements"	This standard provides clarification, corrects errors in and makes minor improvements to various ASC topics. Many of the amendments in this update have transition guidance with effective dates for annual periods beginning after December 15, 2018, and some amendments do not require transition guidance and are effective upon issuance of this update.	January 1, 2019	The Company adopted ASU No. 2018-09 on January 1, 2019. This adoption had no material impact on its consolidated financial statements.

ASU No. 2018-11, "Leases" (Topic 842): Targeted Improvements	This standard provides for the election of transition methods between the modified retrospective method and the optional transition relief method. The modified retrospective method is applied to all prior reporting periods presented with a cumulative-effect adjustment recorded in the earliest comparative period while the optional transition relief method is applied beginning in the period of adoption with a cumulative-effect adjustment recorded in such period. Also, this standard allows lessors to elect to not separate non-lease components from the associated lease components if certain criteria are met.	January 1, 2019	The Company adopted ASU No. 2018-11 on January 1, 2019. See further discussion below.

Standards that have not been adopted
ASU No. 2016-13, "Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments"	This standard requires measurement and recognition of expected credit losses for financial assets held. ASU No. 2016-13 requires modified retrospective application. Early adoption is permitted.	January 1, 2023	The Company believes that the implementation of this new guidance will not have a material impact on it consolidated financial statements.

ASC 842, Leases

Lessee Accounting

In February 2016, the Financial Accounting Standards Board, or the FASB, issued ASU 2016-02, Leases (Topic 842), which requires lessees to recognize a right-of-use, or ROU, asset and a lease obligation for all leases. In July 2018, the FASB issued ASU No. 2018-11, Leases (Topic 842): Targeted Improvements, which simplifies the implementation by allowing entities the option to instead apply the provisions of the new guidance at the effective date, without adjusting the comparative periods presented. The new lease guidance became effective for the Company for its annual reporting period beginning January 1, 2019, including interim periods within that reporting period. The Company adopted the standard using a modified retrospective approach with the effective date of the standard as the date of initial application.

The Company elected the package of practical expedients permitted under the transition guidance within the standard, which eliminates the reassessment of past leases, classification and initial direct costs. For leases with a term of twelve months or less, the Company has made a policy election in which the ROU asset and lease liability will not be recognized on its balance sheet.

As a result of the Company's adoption of this new standard, it recorded ROU assets of $24.7 million and lease liabilities of $27.7 million. The adoption of the standard did not have an impact on the Company's equity and will not have a material impact on the Company's results of operations and cash flows.

Lessor Accounting

Under ASU 2018-11, a lessor may elect to combine lease and non-lease components provided that the non-lease component(s) otherwise would be accounted for under the new revenue guidance in ASC 606 and both of the following conditions are met:


•	The timing and pattern of transfer for the lease component are the same as those for the non-lease components associated with that lease component.


•	The lease component, if accounted for separately, would be classified as an operating lease.

When the above conditions are met, the entity will need to assess predominance. If the non-lease components are predominant, the entity accounts for the combined component under ASC 606; otherwise, the entity accounts for the combined component under ASC 842.

After review of its revenue streams, the Company has concluded that the non-lease component of its revenue is predominant, and that both of the above criteria are met. Therefore, the Company has adopted the new transition options and combines lease and non-lease revenues. The Company recognizes revenue based on the non-lease component under ASC 606, as it has concluded that the non-lease component is the predominant component. The adoption of ASU 2018-11 on January 1, 2019 did not change the timing or amounts of revenues recognized by the Company.

Revenues from Contracts with Customers

12 Months Ended

Dec. 31, 2019

Revenue from Contract with Customer [Abstract]

Revenues from Contracts with Customers

Effective January 1, 2018, the Company adopted ASU 2014-09, Revenue from Contracts with Customers (Topic 606) using the modified retrospective method. The adoption of this standard did not have a material impact on the Company's financial position or results of operations. Accordingly, the Company did not make an adjustment to the opening balance of retained earnings in order to account for the implementation of the new requirements of this standard, and it did not restate prior period information for the effects of the new standard.

The services that are provided by the Company represent a single performance obligation under its contracts that are satisfied at a point in time or over time. Revenues are earned primarily by (1) chartering the Company's vessels, including the operation of such vessels, (2) providing vessel management services to third party vessel owners, and (3) providing shore-based port facility services, including rental of land. The services generating these revenue streams are provided to customers based on contracts that include fixed or determinable prices and do not generally include right of return or other significant post-delivery obligations. The Company's vessel revenues, vessel management revenues and port facility revenues are recognized either at a point in time or over the passage of time when the customer has received or is receiving the benefit from the applicable service. Revenues are recognized when the performance obligations are satisfied in accordance with contractual terms and in an amount that reflects the consideration that the Company expects to be entitled to in exchange for the services rendered or rentals provided. Revenues are recognized net of any taxes collected from customers, which are subsequently remitted to governmental authorities. Invoices are typically billed to customers on a monthly basis and payment terms on customer invoices typically range 30 to 60 days.

A performance obligation under contracts with the Company's customers to render services is the unit of account under Topic 606. The Company accounts for services rendered separately if they are distinct and the service is separately identifiable from other items provided to a customer and if a customer can benefit from the services rendered provided on its own or with other resources that are readily available to the customer. A contract's transaction price is allocated to each distinct performance obligation and recognized as revenue when, or as, the performance obligation is satisfied.

As of December 31, 2019, the Company has certain remaining performance obligations representing contracted vessel revenues for which work has not been performed and such contracts have an original expected duration of more than one year. As of December 31, 2019, the aggregate amount of the transaction price allocated to remaining performance obligations for such contracts was $8.4 million, of which $5.8 million and $2.6 million are expected to be recognized in 2020 and 2021, respectively. The Company has elected to apply the optional exemption for the disclosure of the remaining performance obligations for any of its revenue streams that are expected to have a duration of one year or less and, therefore, such amounts have not been disclosed.

Disaggregation of Revenues

The Company recognized revenues as follows (in thousands):



	Year Ended December 31,
	2019		2018
Vessel revenues	$	188,319	$	175,767
Vessel management revenues	35,390		33,065
Shore-based facility revenues	1,953		3,572
	$	225,662	$	212,404

Loss Per Share

12 Months Ended

Dec. 31, 2019

Earnings Per Share [Abstract]

Loss Per Share

Basic loss per common share was calculated by dividing net loss by the weighted average number of common shares outstanding during the period. Diluted loss per common share was calculated by dividing net 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 per share (in thousands, except for per share data):



	Year Ended December 31,
	2019			2018
Net Loss	$	(138,814	)	$	(119,123	)
Weighted average number of shares of common stock outstanding	37,914			37,508
Add: Net effect of dilutive stock options and unvested restricted stock ^(1)(2)(3)	—			—
Weighted average number of dilutive shares of common stock outstanding	37,914			37,508
Loss per common share:
Basic loss per common share	$	(3.66	)	$	(3.18	)
Diluted loss per common share	$	(3.66	)	$	(3.18	)


(1)	Due to a net loss, the Company excluded from the calculation of loss per share the effect of equity awards representing the rights to acquire 5,626 and 583 shares of common stock for the years ended December 31, 2019 and 2018, respectively.

(2)

For the year ended December 31, 2018, the 2019 convertible senior notes issued in August 2012 were not dilutive, as the average price of the Company’s stock was less than the effective conversion price of such notes. In September 2019, the Company repaid the remaining balance of the 2019 convertible senior notes in full upon their maturity. See Note 9 for further discussion. It was the Company's stated intention to redeem the principal amount of its 2019 convertible senior notes in cash and the Company used the treasury method for determining potential dilution in the diluted earnings per share computation.


(3)	Dilutive unvested restricted stock units are expected to fluctuate from quarter to quarter depending on the Company’s performance compared to a predetermined set of performance criteria. See Note 11 to these financial statements for further information regarding certain of the Company’s restricted stock grants.

Defined Contribution Plan

12 Months Ended

Dec. 31, 2019

Defined Contribution Plan

The Company offers a 401(k) plan to all full-time employees. Employees must be at least eighteen years of age and have completed three months of service to be eligible for participation. Participants may elect to defer up to 60% of their compensation, subject to certain statutorily established limits. The Company may elect to make annual matching and profit sharing contributions to the 401(k) plan. In response to weak market conditions, the Company ceased matching contributions to the 401(k) plan and did not match any contributions between December 31, 2014 and December 31, 2019. In January 2020, the Company made a discretionary match of employee contributions to the 401(k) plan.

Property, Plant and Equipment

12 Months Ended

Dec. 31, 2019

Property, Plant and Equipment

Property, plant and equipment consisted of the following (in thousands):



	December 31,
	2019			2018
Offshore supply vessels and multi-purpose support vessels	$	2,851,290		$	2,851,872
Non-vessel related property, plant and equipment	133,647			133,564
Less: Accumulated depreciation	(833,226		)	(735,063		)
	2,151,711			2,250,373
Construction in progress	191,052			184,456
	$	2,342,763		$	2,434,829

Vessel Construction

During the first quarter of 2018, the Company notified the shipyard that was constructing the remaining two vessels in the Company's fifth OSV newbuild program that it was terminating the construction contracts for such vessels based on the shipyard's statements that it would be more than one year late in the delivery of the vessels, among other reasons. On October 2, 2018, the shipyard filed suit against the Company in the 22nd Judicial District Court for the Parish of St. Tammany in the State of Louisiana, or the Gulf Island Litigation. The shipyard claims that the Company's termination was improper and that the shipyard should be permitted to complete construction of the vessels. Alternatively, the shipyard asserts that if the termination was proper, the Company would owe the shipyard compensation for unpaid work. The Company has responded to the suit and has alleged counter-claims. The Company intends to vigorously defend against the shipyard’s claims and considers them to be without merit. The shipyard has frustrated the Company's ability to complete the vessels at a replacement shipyard by asserting that it has possessory rights over the vessels. The Company disputes these asserted possessory rights and believes that the detention of the vessels, over which the Company has title, is wrongful. On November 5, 2019, the district court denied a preliminary motion for summary judgment to require the shipyard to release its possession of the vessels, which may delay further the ability to complete the vessels at a completion shipyard. Because of the shipyard's detention of the vessels, the timeframe in which the vessels can be completed at a replacement shipyard is also uncertain. The Company received performance bonds from sureties with respect to the vessel construction contracts in dispute. The sureties have denied the Company's claim under the bonds, but did authorize the Company to select a completion yard and, subject to a reservation of rights, offered to fund the cost to complete the vessels in excess of their contract price of up to the full amount of the performance bond. The Company rejected the sureties' conditional and non-conforming offer.

As of the date of termination of the construction contracts, these two remaining vessels, both of which are domestic 400 class MPSVs, were projected to be delivered in the second and third quarters of 2019, respectively. These projected delivery dates were subsequently amended, for guidance purposes, to be the second and third quarters of 2020; and then later extended to be the second and third quarters of 2021. Due to the continued uncertainty of the timing and location of future construction activities, the Company has now updated its forward guidance for the delivery dates related to these vessels to be the second and third quarters of 2022, respectively. However, the timing of the remaining construction draws remains subject to change commensurate with any potential further delays in the delivery dates of such vessels. The cost of this nearly completed 24-vessel newbuild program, before construction period interest, is expected to be approximately $1,335.0 million, of which $22.9 million and $34.6 million is currently expected to be incurred in 2021 and 2022, respectively. The foregoing amounts do not reflect any potential additional payments to the shipyard in respect of the aforementioned claim. From the inception of this program through December 31, 2019, the Company had incurred construction costs of approximately $1,277.5 million, or 95.7%, of total expected project costs. During 2019, the Company incurred $3.3 million of project costs related to these vessels.

Shipyard Arbitration Settlement

On January 22, 2016, the Company initiated an arbitration demand in accordance with the vessel construction agreement dated November 14, 2011 with VT Halter Marine, Inc., or Halter, to construct ten 300 class OSVs as part of the Company’s fifth OSV newbuild program. In October 2019, the arbitration panel awarded damages in the amount of $18.0 million related to the Company’s claims, offset by $2.1 million awarded to Halter for its counterclaims. In December 2019, the Company collected a net award of $15.4 million, which was reduced as a result of negotiations between the parties for the execution of a timely payment.

Acquisition of Vessels	12 Months Ended
Acquisition of Vessels	Dec. 31, 2019
Acquisition of Vessels [Abstract]
Acquisition of Vessels	Acquisition of Vessels On May 18, 2018, the Company completed the acquisition of four high-spec Jones Act-qualified OSVs and related equipment from Aries Marine Corporation and certain of its affiliates for $40.9 million in cash, inclusive of $4.0 million related to a non-compete intangible asset that is being amortized over the life of such asset, or two years. Also included in this transaction was the cost of fuel and lube inventory and transactions fees. The acquired vessels were all U.S.-flagged and are comprised of two 300 class OSVs and two 280 class OSVs. Subsequent to the acquisition, these four vessels have been foreign-flagged. The Company determined that substantially all of the fair value of the assets acquired are concentrated in a group of similar identifiable assets and, therefore, has accounted for such transaction as an asset acquisition under ASU 2017-01.

Long-Term Debt Including Current Maturities

12 Months Ended

Dec. 31, 2019

Debt Disclosure [Abstract]

Long-Term Debt Including Current Maturities

In 2020, the Company experienced multiple events of defaults under the existing 2020 senior notes and 2021 senior notes, which included non-payment of principal and interest on the 2020 senior notes, nonpayment of interest on the 2021 senior notes and related cross-defaults. Cross-defaults were also triggered under the Company’s existing senior credit agreement, first lien term loan agreement and second lien term loan agreement. The Company, together with the administrative agents and certain of its lenders under its existing senior credit agreement, first lien term loan agreement and second lien term loan agreement, and certain holders of the Company’s 2020 senior notes and 2021 senior notes entered into separate forbearance agreements, which were subsequently extended to May 19, 2020 pursuant to which such lenders and noteholders agreed to forbear from exercising certain of their rights and remedies with respect to certain defaults by the Company. On May 19, 2020, the Company sought voluntary relief under chapter 11 of the United States Bankruptcy Code, or the Chapter 11 Cases, in the Bankruptcy Court and filed a proposed joint prepackaged plan of reorganization, or the Plan. On June 19, 2020, after a confirmation hearing, the Bankruptcy Court entered a confirmation order approving the Plan.

As of the dates indicated below, the Company had the following outstanding long-term debt (in thousands):



	December 31,
	2019			2018
5.875% senior notes due 2020, net of deferred financing costs of $262 and $1,162	$	224,051		$	365,780
5.000% senior notes due 2021, net of deferred financing costs of $1,203 and $2,173	448,797			447,827
1.500% convertible senior notes due 2019, net of original issue discount of $0 and $2,725 and deferred financing costs of $0 and $611	—			96,311
First-lien term loans due 2023, including deferred gain of $13,040 and $15,845, and net of original issue discount of $3,084 and $3,013, and deferred financing costs of $3,256 and $2,814	356,700			310,018
Second-lien term loans due 2025, including deferred gain of $18,678	139,913			—
Senior credit facility, net of deferred financing costs of $5,571	94,429			—
	1,263,890			1,219,936
Less current maturities¹	(1,263,890		)	(96,311		)
	$	—		$	1,123,625


(1)	On March 2, 2020, the Company did not make the interest payment on the 2021 senior notes that was due on such date. As a result of this and cross-default language in its remaining debt obligations, the Company has determined that all of its debt should be presented as current.

The table below summarizes the Company's cash interest payments (in thousands):



	Cash Interest Payments			Payment Dates
5.875% senior notes due 2020	$	6,589		April 1 and October 1
5.000% senior notes due 2021	11,250		(1)	March 1 and September 1
First-lien term loans due 2023	2,652			Variable Monthly (2)
Second-lien term loans due 2025	2,879			January 31, April 30, July 31, and October 31
Senior credit facility	578			Variable Monthly (3)


(1)	An interest payment on the 2021 senior notes in the amount of $11,250 was due on March 2, 2020, but the Company did not make such interest payment.


(2)	The interest rate on the first-lien term loans is variable based on the Company's election. The amount reflected in this table is the monthly amount payable based on the 30-day LIBOR interest rate that was elected and in effect on December 31, 2019 plus an applicable margin, which is currently 7.00%. Please see further discussion of the variable interest rate below.


(3)	The interest rate on the senior credit facility is variable based on the 30-day LIBOR interest rate plus a 5.00% margin. The amount reflected in this table is the monthly amount payable based on the 30-day LIBOR interest rate that was in effect on December 31, 2019. Please see further discussion of the variable interest rate below.

Senior Credit Facility

On June 28, 2019, the Company entered into a $100.0 million senior secured asset-based revolving credit facility, or the senior credit facility, under a Senior Credit Agreement by and among the Company, as Borrower, certain of the Company’s subsidiaries, as guarantors, certain lenders, and CIT Northbridge Credit LLC, or CIT, as Administrative Agent and Collateral Agent for the lenders (as amended or otherwise modified from time to time, the Senior Credit Agreement). The senior credit facility is guaranteed by certain of the Company's domestic and foreign subsidiaries and contains customary representations and warranties, covenants and events of default. The fully-funded senior credit facility was secured by first-priority liens on receivables, certain restricted and unrestricted cash accounts and related assets. The senior credit facility was comprised of two tranches that rebalanced each month based on the variable receivable-backed borrowing base. The unrestricted receivables-backed tranche was scheduled to mature in 2022, whereas the restricted cash-backed tranche was scheduled to mature in 2025. The receivables-backed tranche was available for use, subject to the completion of applicable eligibility review procedures, for working capital and general corporate purposes, including the refinancing or repayment of existing debt, subject to, among other things, compliance with certain requirements. The cash-backed tranche was permitted, over time, to rebalance to the receivables-backed tranche as eligible receivables increased. Borrowings under the senior credit facility accrued interest at a floating-rate LIBOR plus a fixed spread of 5.00% for the life of the facility.

On December 31, 2019, the Company's restricted cash balance under the senior credit facility was $52.1 million. The Company classifies cash as restricted when there are legal or contractual restrictions on its withdrawal or usage.

On February 29, 2020, the Company made a cash payment of $50 million out of its restricted cash to fully satisfy CIT’s share of the existing obligations under the Senior Credit Agreement. On May 22, 2020, with proceeds from the DIP Credit Agreement, the remaining $50 million in principal amount was paid in full.

First-Lien Term Loans

On June 15, 2017, the Company entered into the first-lien term loan agreement (as amended, amended and restated, supplemented or otherwise modified from time to time, the First Lien Term Loan Agreement), by and among the Company, as Parent Borrower, Hornbeck Offshore Services, LLC, or HOS, as Co-Borrower, certain holders of the Company’s then outstanding notes, or the First-Lien Initial Lenders, and Wilmington Trust, National Association, as Administrative Agent and Collateral Agent for the lenders that initially provided for $300 million of first-lien delayed-draw term loans, or the first-lien term loans. On March 1, 2019, the Company entered into Incremental First Lien Term Loan Joinder Agreements with such parties, including certain existing as well as additional lenders, to borrow an additional $50.0 million of first-lien term loans, or the incremental first-lien term loans, under the First Lien Term Loan Agreement, including approximately $30.1 million in cash of new financing. On March 1, 2019, the Company exchanged approximately $21.0 million in face value of its 2019 convertible senior notes in a privately negotiated debt-for-debt exchange for the remaining approximately $19.9 million of incremental first-lien term loans. In accordance with applicable accounting guidance, this debt-for-debt exchange was accounted for as a debt modification. As a result, the Company recorded a loss on early extinguishment of debt of $1.3 million ($1.1 million or $0.03 per diluted share after-tax) due to deal costs associated with the exchange. The incremental first-lien term loans have the same terms applicable to the first-lien term loans originally issued under the existing First Lien Term Loan Agreement.

The first-lien term loans are guaranteed by certain of the Company's domestic and foreign subsidiaries and are collateralized on a first-lien basis by certain deposit and securities accounts, 45 domestic high-spec OSVs and MPSVs and ten foreign high-spec OSVs, including a security interest in two pending MPSV newbuilds, and associated personalty, as well as by second-priority liens on receivables, certain unrestricted cash accounts and related assets that secure the senior credit facility on a first-lien basis.

Borrowings accrue interest, at the Company’s option, at either:


•	an adjusted London Interbank Offered Rate (subject to a 1.00% floor) plus (a) 6.00% during the first year of the first-lien term loans, (b) 6.50% during the second year of the first-lien term loans, (c) 7.00% during the third year of the first-lien term loans, (d) 7.25% during the fourth year of the first-lien term loans, and (e) 7.50% thereafter; or

•

the greatest of (a) the prime rate announced by The Wall Street Journal, (b) the Federal Funds Effective Rate in effect on such day plus 1/2 of 1%, and (c) the London Interbank Offered Rate plus, 1%, plus, for either (a), (b), or (c), a margin of (i) 5.00% during the first year of the first-lien term loans, (ii) 5.50% during the second year of the first-lien term loans, (iii) 6.00% during the third year of the first-lien term loans, (iv) 6.25% during the fourth year of the first-lien term loans, and (v) 6.50% thereafter.

Second-Lien Term Loans

In February and March 2019, the Company completed two private offers and exchanged an aggregate of $142.6 million in face value of its 2020 senior notes for $121.2 million of second-lien term loans due 2025, or second-lien term loans, of the Company and the Co-Borrower. In accordance with applicable accounting guidance, this debt-for-debt exchange was accounted for as a debt modification. As a result, the Company recorded a loss on early extinguishment of debt of $2.4 million ($1.9 million or $0.05 per diluted share after-tax) primarily related to deal costs associated with the exchange. As contemplated by and provided for under the agreement governing the first-lien term loans, the second-lien term loans were made pursuant to a Second Lien Term Loan Agreement entered into by the Company, the Co-Borrower, the lenders party thereto and the Administrative Agent and Collateral Agent. The second-lien term loans have a maturity date of February 7, 2025 and bear interest at a fixed rate per annum of 9.50%. The second-lien term loans are guaranteed by certain of the Company’s domestic and foreign subsidiaries and are collateralized on a second-lien basis, subject to certain permitted liens, by a second-priority interest in the same collateral securing the Company’s first-lien term loans on a first-lien basis and third priority liens on receivables, certain unrestricted cash accounts and related assets that secure the senior credit facility on a first-lien basis.

Convertible Note Repurchases and Repayment

During 2019, the Company completed a series of private transactions for the repurchase of $52.9 million in face value of its outstanding 2019 convertible senior notes for an aggregate total of $47.6 million of cash. The Company recorded a gain on early extinguishment of debt of $3.6 million ($2.9 million or $0.08 per diluted share after-tax), which was comprised of a $5.6 million gain on the repurchase, offset in part by the write-off of $2.0 million of original issue discount, deal costs and unamortized financing costs related to the notes repurchased.

On September 3, 2019, the Company repaid the remaining balance of $25.8 million in face value of its 2019 convertible senior notes in full upon their maturity, plus accrued and unpaid interest thereon, in accordance with the terms of the indenture governing such notes. The retirement of this debt was funded with cash on hand.

The agreements governing the first-lien term loans, second-lien term loans and the senior credit facility and the indentures governing the Company's 2020 senior notes and 2021 senior notes impose certain restrictions on the Company. Such restrictions affect, and in many cases limit or prohibit, among other things, the Company's ability to incur additional indebtedness, make capital expenditures, redeem equity, create liens, sell assets and make dividend or other restricted payments.

2020 Senior Notes

On March 2, 2012, the Company issued $375.0 million in aggregate principal amount of 2020 senior notes, governed by an indenture, or the 2012 indenture. The net proceeds to the Company from the offering were approximately $367.4 million, net of transaction costs. The 2020 senior notes have a maturity date of April 1, 2020 and the effective interest rate is 6.08%. No principal payments were scheduled prior to maturity. The 2020 senior notes were issued under and are entitled to the benefits of the 2012 indenture. Concurrently with the closing of the First Lien Term Loan Agreement in 2017, the Company arranged for the repurchase of $8.1 million in face value of its outstanding 2020 senior notes. In February and March 2019, the Company exchanged $142.6 million in face value of its 2020 senior notes for second-lien term loans.

2021 Senior Notes

On March 14, 2013, the Company issued $450.0 million in aggregate principal amount of 2021 senior notes, governed by an indenture, or the 2013 indenture. The net proceeds to the Company from the offering were approximately $442.4 million, net of transaction costs. The 2021 senior notes have a maturity date of March 1, 2021 and the effective interest rate is 5.21%. No principal payments are scheduled prior to maturity. The 2021 senior notes were issued under and are entitled to the benefits of the 2013 indenture.

The 2020 senior notes and 2021 senior notes are senior unsecured obligations and rank equally in right of payment with other existing and future senior indebtedness and senior in right of payment to any subordinated indebtedness that may be incurred by the Company in the future. Hornbeck Offshore Services, Inc., as the parent company issuer of the 2020 senior notes and the 2021 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 under the terms of the indenture. The Company may, at its option, redeem all or part of the 2020 senior notes or 2021 senior notes from time to time at specified redemption prices and subject to certain conditions required by the indentures. The Company is permitted under the terms of the indentures to incur additional indebtedness in the future, provided that certain financial conditions set forth in the indentures are satisfied by the Company.

2019 Convertible Senior Notes

On August 13, 2012, the Company issued $300.0 million of 2019 convertible senior notes, with a maturity date of September 1, 2019. Because the 2019 convertible senior notes were considered to be cash convertible debt, the Company 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 did not include an embedded conversion feature. A non-convertible interest rate of 5.75% was used to compute the initial fair value of the liability component of $227.6 million. For purposes of the fair value measurement, the Company determined that the valuation of the 2019 convertible senior notes fell 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 $227.6 million initial amount allocated to the liability component, or $72.4 million, was allocated to the embedded conversion option, or equity component. This excess was treated as an imputed original issue discount and was amortized through interest expense, using the effective interest method, over the seven-year term of the 2019 convertible senior notes, which ran through September 1, 2019. The effective interest rate for these notes was 6.23%. See Convertible Note Repurchases and Repayment above for further discussion of repayment of the 2019 convertible senior notes.

The Company estimates the fair value of its 2020 senior notes, 2021 senior notes, the first-lien term loans and the second-lien term loans (and for 2018, the 2019 convertible senior notes) by primarily using quoted market prices. Given the observability of the inputs to these estimates, the Company has assigned a Level 2 of the three-level valuation hierarchy. The interest rate on the senior credit facility is variable and the Company has concluded that face value approximates fair value of such facility as of December 31, 2019. As of the dates indicated below, the Company had long-term debt including current maturities with the following face values, carrying values and fair values (in thousands):



	December 31, 2019 ⁽⁴⁾						December 31, 2018
	Face Value		Carrying Value		Fair Value		Face Value		Carrying Value		Fair Value
5.875% senior notes due 2020	$	224,313	$	224,051	$	69,503	$	366,942	$	365,780	$	191,727
5.000% senior notes due 2021	450,000		448,797		123,748		450,000		447,827		220,500
1.500% convertible senior notes due 2019	—		—		—		99,647		96,311		88,125
First-lien term loans due 2023 (1)	350,000		356,700		341,906		300,000		310,018		295,875
Second-lien term loans due 2025 (2)	121,235		139,913		66,073		—		—		—
Senior credit facility (3)	100,000		94,429		100,000		—		—		—
	$	1,245,548	$	1,263,890	$	701,230	$	1,216,589	$	1,219,936	$	796,227


(1)	The carrying value of the first-lien term loans due 2023 includes a deferred gain of $13,040 less original issue discount and deferred financing costs of $6,340.


(2)	The carrying value of the second-lien term loans due 2025 includes a deferred gain of $18,678.


(3)	A portion of the senior credit facility was scheduled to mature in 2022 with the balance scheduled to mature in 2025. On February 29, 2020, $50 million of the principal of the senior credit facility was repaid and on May 22, 2020, the remaining $50 million of principal of the senior credit facility was repaid, the latter from the proceeds of the DIP Credit Agreement.


(4)	See Note 2 regarding the proposed impact of the Chapter 11 Cases on the Company's long-term debt including current maturities.

Superpriority Debtor-in-Possession Term Loan Agreement

For information concerning the Superpriority Debtor-in-Possession Term Loan Agreement, see Note 2.

Capitalized Interest

Interest expense excludes capitalized interest related to the construction or conversion of vessels in the approximate amount of $0.0 million, and $2.3 million, for the years ended December 31, 2019, and 2018, respectively.

Stockholders' Equity	12 Months Ended
Stockholders' Equity	Dec. 31, 2019
Equity [Abstract]
Stockholders' Equity	Stockholders’ Equity Preferred Stock The Company’s certificate of incorporation authorizes 5.0 million shares of preferred stock. The Board of Directors has the authority to issue preferred stock in one or more series and to fix the rights, preferences, privileges and restrictions thereof, including dividend rights, conversion rights, voting rights, terms of redemption, redemption prices, liquidation preferences and the number of shares constituting any series or the designation of such series, without further vote or action by the Company’s stockholders. Stockholder Rights Plan On July 1, 2013, the Company’s Board of Directors implemented a stockholder rights plan establishing one right for each outstanding share of common stock. The rights become exercisable, and transferable apart from the Company’s common stock, 10 business days following a public announcement that a person or group has acquired beneficial ownership of, or has commenced a tender or exchange offer for, 10% or more of the Company’s common stock. This stockholder rights plan is substantially similar to the Company's prior stockholder rights plan that expired on June 17, 2013.

Stock-Based Compensation

12 Months Ended

Dec. 31, 2019

Stock-Based Compensation

Incentive Compensation Plan

On June 20, 2019, the Company received stockholder approval to increase the maximum number of shares available under its long-term incentive compensation plan by 7.0 million. The Company’s stock-based incentive compensation plan presently covers a maximum of 11.95 million shares of common stock that allows the Company to grant restricted stock, stock options, stock appreciation rights and fully-vested common stock, to officers, other employees and directors. As a result of the approval to increase the number of shares available under this plan, the Company, which has the sole discretion in determining the method of settlement for awards granted under the plan, now has the ability and intent to settle certain awards using available shares. Accordingly, the classification of and accounting for 5.1 million outstanding phantom stock units, or PSUs, and 1.6 million stock appreciation rights, or SARs, were modified from cash-settled to stock-settled during the second quarter of 2019. These outstanding awards were granted to Company executives in 2017, 2018 and 2019 and to non-executive employees in 2019. After these modifications were completed, the Company has only 0.2 million awards outstanding that will settle in cash on their respective vesting dates. The remaining vesting provisions of the modified awards were not impacted and, therefore, the Company determined the fair value of the awards on the date of the modification was the same as the date prior to the modification. There was no additional compensation expense recognized at the time of modification. As of December 31, 2019, there were 0.7 million shares available for future issuance to employees under the incentive compensation plan. The issuance of shares of common stock under the incentive compensation plan was registered on Form S-8 with the Securities and Exchange Commission. The registration was terminated by the Company on June 18, 2020.

Under the Plan, all of the outstanding awards under the Company's long-term incentive compensation plan will be extinguished on the effective date of the Plan.

The financial impact of 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):



	Year Ended December 31,
	2019		2018
Income before taxes	$	3,590	$	3,692
Net income	$	2,835	$	2,957
Earnings per common share:
Basic	$	0.07	$	0.08
Diluted	$	0.07	$	0.08

Stock Options

The Company is authorized to grant stock options under its incentive compensation plan in which the purchase price of the stock subject to each option is established as the closing price of the Company’s common stock on the date of grant and accordingly is not less than the fair market value of the stock on the date of grant. All options granted expire ten years after the date of grant, have an exercise price equal to or greater than the actual or estimated market price of the Company’s stock on the date of grant, and vest over a three-year period. The Company has not granted stock options to any directors, executive officers or employees since 2011. The Company did not receive any cash proceeds from the exercise of stock options for the years ended December 31, 2019 and 2018, respectively.

The following table represents the Company’s stock option activity for the year ended December 31, 2019 (in thousands, except per share data and years):



	Number of Shares	Weighted Average Exercise Price		Weighted- Average Remaining Contractual Term (years)	Aggregate Intrinsic Value
Options outstanding at January 1, 2019	185	$	24.86	2.1	$	—
Grants	—	—		0	—
Exercised	—	—		—	—
Forfeited or expired	—	—		n/a	n/a
Options outstanding at December 31, 2019	185	$	24.86	1.1	$	—
Exercisable options outstanding at December 31, 2019	185	$	24.86	1.1	$	—

The following table represents the Company’s stock option activity for the year ended December 31, 2018 (in thousands, except per share data and years):



	Number of Shares	Weighted Average Exercise Price		Weighted- Average Remaining Contractual Term (years)	Aggregate Intrinsic Value
Options outstanding at January 1, 2018	185	$	24.86	3.1	$	—
Grants	—	—		0	—
Exercised	—	—		—	—
Forfeited or expired	—	—		n/a	n/a
Options outstanding at December 31, 2018	185	$	24.86	2.1	$	—
Exercisable options outstanding at December 31, 2018	185	$	24.86	2.1	$	—

Stock Appreciation Rights

The Company is authorized to grant SARs under its incentive compensation plan. SARs represent the right to receive, upon exercise, a number of shares of Company common stock, cash, or a combination thereof, at the election of the Company, equal to the product of the aggregate number of shares of Company common stock with respect to which the SAR is exercised and the excess of the fair market value of a share of Company common stock as of the date of exercise over the grant price. All SARs granted expire ten years after the date of grant and have an exercise price equal to or greater than the actual or estimated market price of the Company’s stock on the date of grant.

During 2019, the Company granted 1.6 million SARs with an exercise price of $1.38. The SARs vest and become exercisable in three equal annual installments on each of the 1st, 2nd and 3rd anniversaries of the grant date and have a ten-year life. In accordance with ASC 718, the fair value of each SAR granted is estimated on the date granted using the Black-Scholes option-pricing model. As of the grant date, the Company did not have shares available to settle these SARs in shares and, therefore, they were initially accounted for as liability awards.

On June 20, 2019, the Company determined that it could and would settle its outstanding SARs in equity rather than cash and such awards are now accounted for as stock-settled SARs. All of the remaining vesting provisions of the SARs are unchanged. The Company estimated the fair value of each SAR on the modification date using the Black-Scholes option-pricing model. As of the modification date, the fair value for the outstanding SARs was $1.02 per share granted.

The following assumptions were used to value SARs on the modification date:



Expected volatility	89.1	%
Expected life	6.0	years
Risk-free interest rate	1.9	%
Expected dividend yield	—	%

The risk-free interest rate used to value SARs is based on the U.S. Treasury yield curve in effect at the time of grant with maturity dates that coincide with the expected life of the SARs. The Company used the simplified method under GAAP to determine the expected life, since this is the first time the Company issued SARs. The Company's assumption for volatility is based on its historical volatility calculated on the grant date.

The compensation expense related to SARs, which is amortized over a three-year vesting period, 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 using the Black-Scholes model. As of December 31, 2019, the Company had unamortized stock-based compensation expense of $1.0 million, which will be recognized on a straight-line basis over the remaining vesting period, or 1.4 years. In addition, the Company has recorded approximately $0.6 million of compensation expense during the year ended December 31, 2019 associated with the awards.

The following table represents the Company’s SARs activity for the year ended December 31, 2019 (in thousands, except per share data and years):



	Number of Shares	Weighted Average Exercise Price		Weighted- Average Remaining Contractual Term (years)	Aggregate Intrinsic Value
SARs outstanding at January 1, 2019	—	$	—	0	$	—
Grants	1,601	1.38		10.0	—
Exercised	—	—		—	—
Forfeited or expired	—	—		n/a	n/a
SARs outstanding at December 31, 2019	1,601	$	1.38	9.2	$	—
Exercisable SARs outstanding at December 31, 2019	—	$	—	0	$	—

Restricted Stock

Equity-Settled Restricted Stock

The Company’s incentive compensation plan allows the Company to issue restricted stock units, with either performance-based or time-based vesting provisions. The Company has granted performance-based restricted stock unit awards, which calculates the shares to be received based on the Company’s achievement of certain internal performance criteria over a three-year period as defined by the restricted stock unit agreement governing such awards. Performance for these types of awards has historically been measured by a number of factors that may differ from year to year, including such examples as the Company achieving a targeted return on invested capital, operating profit margin compared to peers, and safety record. The actual number of shares that could be received by the award recipients for the years in question can range from 0% to 150% of the Company’s base share awards depending on the number and/or extent of performance goals attained by the Company. Compensation expense related to performance-based restricted stock unit awards is recognized over the period the restrictions lapse, from one to three years, based on the market price of the Company's stock on the date of grant applied to the shares that are expected to vest. The compensation expense related to time-based restricted stock unit awards, which is amortized over a one to three-year vesting period, 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. As of December 31, 2019, the Company had unamortized stock-based compensation expense of $3.2 million, which will be recognized on a straight-line basis over the remaining vesting period, or 1.3 years. In addition, the Company has recorded approximately $2.5 million and $1.6 million of compensation expense during the years ended December 31, 2019 and 2018, respectively, associated with restricted stock-based unit awards. As a result of the stockholder approval to increase the number of shares available under its long-term incentive compensation plan, the Company now has the ability to settle certain previously granted PSUs in shares. As such, the value of these awards was determined on the modification date as $1.28 and such expense will not vary in future periods.

The following table summarizes the equity-settled restricted stock unit awards activity during the year ended December 31, 2019 (in thousands, except per share data):



	Number of Shares		Weighted Avg. Fair Value Per Share
Restricted stock unit awards:
Restricted stock unit awards as of January 1, 2019	388		$	6.73
Granted during the period	—		—
Modified from cash to equity-settled	5,078		1.28
Change in estimated payout of performance unit awards⁽¹⁾	227		1.28
Cancellations during the period	—		—
Vested	(250	)	6.52
Outstanding, as of December 31, 2019	5,443		$	1.43


(1)	Annually the Company reviews the performance compared to pre-determined targets for outstanding performance unit awards. Based on current projections, the Company may increase or decrease the anticipated payout based on its historical operating results and near-term projections.

The following table summarizes the equity-settled restricted stock unit awards activity during the year ended December 31, 2018 (in thousands, except per share data):



	Number of Shares		Weighted Avg. Fair Value Per Share
Restricted stock unit awards:
Restricted stock unit awards as of January 1, 2018	868		$	10.76
Granted during the period	—		—
Change in estimated payout of performance unit awards⁽¹⁾	(6	)	21.84
Cancellations during the period	(1	)	39.30
Vested	(473	)	13.91
Outstanding, as of December 31, 2018	388		$	6.73


(1)	Annually the Company reviews the performance compared to pre-determined targets for outstanding performance unit awards. Based on current projections, the Company may increase or decrease the anticipated payout based on its historical operating results and near-term projections.

Cash-Settled Restricted Stock

The Company’s incentive compensation plan allows the Company to issue restricted stock units with cash-settled vesting provisions, with either performance-based or time-based vesting provisions. The Company has granted performance-based cash-settled restricted stock unit awards, which calculates the shares to be received based on the Company’s achievement of certain internal performance criteria over a three-year period as defined by the cash-settled restricted stock unit agreement governing such awards. Performance for these types of awards has historically been measured by a number of factors that may differ from year to year, including such examples as the Company achieving a targeted return on invested capital, operating profit margin compared to peers, and safety record. The actual number of shares that could be received by the award recipients for the years in question can range from 0% to 150% of the Company’s base share awards depending on the number and/or extent of performance goals attained by the Company. The compensation expense related to cash-settled restricted stock unit awards 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. The cash-settled restricted stock units are re-measured quarterly based on the 10-day trailing average stock price of the Company's common stock and are classified as a liability, due to the settlement of these awards in cash. As a result of the stockholder approval to increase the number of shares available under its long-term incentive compensation plan, the Company now has the ability to settle certain previously granted PSUs in shares. As of December 31, 2019, the Company had unamortized cash-settled restricted stock compensation expense of $0.1 million, which will be recognized on a straight-line basis over the remaining vesting period, or 0.9 years. In addition, the Company recorded approximately $0.4 million and $1.6 million of compensation expense during the years ended December 31, 2019 and 2018, respectively, associated with cash-settled restricted stock unit awards.

The following table summarizes the cash-settled restricted stock unit awards activity during the year ended December 31, 2019 (in thousands, except per share data):



	Number of Shares		Weighted Avg. Fair Value Per Share⁽¹⁾
Cash-Settled restricted stock unit awards:
Cash-settled restricted stock unit awards as of January 1, 2019	4,006		$	4.53
Granted during the period⁽²⁾	2,631		1.38
Modified from cash to equity-settled	(5,078	)	1.28
Change in estimated payout of performance unit awards	—		—
Cancellations during the period	(6	)	2.16
Vested	(1,392	)	5.20
Outstanding, as of December 31, 2019	161		$	3.81


(1)	The weighted-average fair value per share is determined by the stock price on the date of grant for time-based shares.


(2)	Includes only the base shares awarded for both time-based and performance based awards. The performance-based awards have the potential to vest at up to 150% of the aggregate total of the base share awards.

The following table summarizes the cash-settled restricted stock unit awards activity during the year ended December 31, 2018 (in thousands, except per share data):



	Number of Shares		Weighted Avg. Fair Value Per Share⁽¹⁾
Cash-Settled restricted stock unit awards:
Cash-settled restricted stock unit awards as of January 1, 2018	1,788		$	6.70
Granted during the period⁽²⁾	2,466		3.37
Change in estimated payout of performance unit awards	68		6.06
Cancellations during the period	(2	)	5.85
Vested	(314	)	8.09
Outstanding, as of December 31, 2018	4,006		$	4.53


(1)	The weighted-average fair value per share is determined by the stock price on the date of grant for time-based shares.


(2)	Includes only the base shares awarded for both time-based and performance based awards. The performance-based awards have the potential to vest at up to 150% of the aggregate total of the base share awards.

Employee Stock Purchase Plan

On May 3, 2005, the Company established the Hornbeck Offshore Services, Inc. 2005 Employee Stock Purchase Plan, or ESPP, which was adopted by the Company’s Board of Directors and approved by the Company’s stockholders. Under the ESPP, the Company is presently authorized to issue up to 2.2 million shares of common stock to eligible employees of the Company and its designated subsidiaries. Employees have the opportunity to purchase shares of the Company’s common stock at semi-annual intervals through accumulated payroll deductions that will be applied to purchase shares of common stock at a discount from the market price as defined by the ESPP. The ESPP is designed to satisfy the requirements of Section 423 of the Internal Revenue Code of 1986, as amended, and thereby allows participating employees to defer recognition of taxes when purchasing the shares of common stock at a 15% discount under the ESPP. The Company had an effective Registration Statement on Form S-8 with the Commission registering the issuance of shares of common stock under the ESPP. The registration was terminated by the Company on June 18, 2020. As of December 31, 2019, there were 0.5 million shares available for future issuance to employees under the ESPP. The Company recorded approximately $0.1 million and $0.2 million of compensation expense during the years ended December 31, 2019 and 2018, respectively, associated with the ESPP.

The fair value of the employees’ stock purchase rights granted under the ESPP was estimated using the Black-Scholes model with the following assumptions for the years ended December 31, 2019 and 2018:



	2019			2018
Dividend yield	—		%	—		%
Expected volatility	112.2		%	87.1		%
Risk-free interest rate	1.8		%	2.3		%
Expected term (months)	6			6
Weighted-average grant-date fair value per share	$	0.25		$	0.86

Income Taxes

12 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

Income Taxes

The net long-term deferred tax liabilities in the accompanying consolidated balance sheets include the following components (in thousands):



	Year Ended December 31,
	2019			2018
Deferred tax liabilities:
Fixed assets	$	311,081		$	285,704
Deferred charges and other liabilities	9,296			3,292
Total deferred tax liabilities	320,377			288,996
Deferred tax assets:
Net operating loss carryforwards	(158,577		)	(130,814		)
Allowance for doubtful accounts	(897		)	(253		)
Stock-based compensation expense	(1,068		)	(867		)
Tax original issue discount and restructuring costs	(14,216		)	(6,941		)
Right of use liability	(6,114		)	—
Alternative minimum tax credit carryforward	(2,207		)	(4,415		)
Foreign tax credit carryforward	(15,932		)	(18,963		)
Interest expense limitation	(16,761		)	(4,696		)
Other	(5,366		)	(5,863		)
Total deferred tax assets	(221,138		)	(172,812		)
Valuation allowance	33,287			52,938
Total deferred tax liabilities, net	$	132,526		$	169,122

The components of the income tax expense follow (in thousands):



	Year Ended December 31,
	2019			2018
Current tax expense (benefit):
U.S. and state	$	(2,207	)	$	(5,917	)
Foreign	1,341			1,338
Current tax benefit	(866		)	(4,579		)
Deferred tax expense (benefit):
U.S. and state	(36,362		)	(25,289		)
Foreign	235			247
Deferred tax benefit	(36,127		)	(25,042		)
Total tax benefit	$	(36,993	)	$	(29,621	)

Loss from operations before income taxes, based on jurisdiction earned, was as follows (in thousands):



	Year Ended December 31,
	2019			2018
U.S.	$	(135,310	)	$	(124,879	)
Foreign	(40,497		)	(23,865		)
Total loss from operations before income taxes	$	(175,807	)	$	(148,744	)

As of December 31, 2019, the Company has net operating loss carryforwards, or NOLs, which can only be utilized if the Company generates taxable income in the respective tax jurisdiction. The following table represents the Company's NOLs (in thousands):



Jurisdiction	December 31, 2019		Expiration Years
United States	$	470,411	2031-2037
United States	178,199		None
State taxes	152,706		2030-2039
Mexico	26,623		2026-2029
Brazil⁽¹⁾	15,670		None

(1) NOLs in Brazil can only be used to offset up to 30% of taxable income each year.

The Company also has foreign tax credit carryforwards of approximately $15.9 million, which if not utilized will expire in 2020 through 2029.

In recording a valuation allowance with respect to such NOLs and foreign tax credits, management assessed the favorable and unfavorable evidence to estimate whether sufficient future taxable income will be generated to permit use of the existing deferred tax assets. A significant piece of the unfavorable evidence evaluated during the fourth quarter of 2019 was the cumulative pre-tax loss that was incurred over the three-year period ended December 31, 2019. Such objective evidence limits the ability to consider other subjective evidence, such as the Company’s projections of future earnings. As of December 31, 2019 and 2018, the Company has valuation allowances of $33.3 million and $52.9 million, respectively, based upon management's conclusion that it is more likely than not that a portion of the Brazil and Mexico NOLs, foreign tax credits, and state NOLs described above may expire unused.

The Company is no longer subject to tax audits by federal, state or local taxing authorities for years prior to 2015. The Company has ongoing examinations by various foreign tax authorities but does not believe that the results of these examinations will have a material adverse effect on the Company’s financial position or results of operations.

The following table reconciles the difference between the Company’s income tax provision calculated at the federal statutory rate of 21% and the actual income tax provision (in thousands):



	Year Ended December 31,
	2019			2018
U.S. federal statutory rate	$	(36,920	)	$	(31,236	)
State taxes, net	(2,637		)	(2,231		)
Non-deductible expense	1,548			1,563
Change in valuation allowance	764			1,586
Foreign taxes and other	252			697
	$	(36,993	)	$	(29,621	)

On December 22, 2017, the Securities and Exchange Commission issued Staff Accounting Bulletin 118, or SAB 118, to address the accounting and reporting of the Tax Cuts and Jobs Act, or the Act. SAB 118 allows companies to take a reasonable period, which should not extend beyond one year from enactment of the Act, to measure and recognize the effects of the new tax law. In the fourth quarter of 2018, the Company completed its tax accounting for the Act, resulting in a credit to tax expense of $0.2 million. Additionally, the Company is making the accounting election to treat global intangible low-taxed income as a period cost.

Leases

12 Months Ended

Dec. 31, 2019

Leases [Abstract]

Leases

The Company determines if an agreement is a lease or contains a lease at inception. The lease term may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise the option. ROU assets and the corresponding lease liabilities are recorded at the commencement date based on the present value of lease payments over the expected lease term. The Company uses its incremental borrowing rate, which would be the rate incurred to borrow on a collateralized basis over a similar term in a similar economic environment, to calculate the present value of lease payments.

The Company is obligated under certain operating leases for shore-based facilities, office space and temporary housing. Such leases will often include options to extend the lease and the Company will include option periods that, on commencement date, it is reasonably likely that it will exercise. Some leases may require variable lease payments such as real estate taxes and maintenance expenses. These costs are expensed in the period in which they are incurred. None of the Company's leases contain any residual value guarantees. The Company recorded $4.2 million of expense related to leases in general and administrative and operating expenses during 2019. The expense recorded for short-term leases was $0.5 million during the 2019.

During 2019, the Company recorded operating cash outflows from operating leases of $3.6 million.

Annual maturities of operating lease liabilities under non-cancelable leases with terms in excess of one year, as of December 31, 2019, are as follows (in thousands):



	Year Ended December 31, 2019
2020	$	3,098
2021	3,028
2022	3,083
2023	3,122
2024	2,744
Thereafter	41,129
Total lease payments	56,204
Less: imputed interest	29,032
Total operating lease liabilities	$	27,172

Weighted-average remaining lease term (in years)	17.0
Weighted-average discount rate	9.0		%

Commitments and Contingencies

12 Months Ended

Dec. 31, 2019

Commitments and Contingencies

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 the Company's financial position or results of operations. 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. The Company provides reserves for 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 claims and revise its estimates. Although historically revisions to such estimates have not been material, changes in estimates of the potential liability could materially impact the Company’s results of operations, financial position or cash flows.

Deferred Charges

12 Months Ended

Dec. 31, 2019

Deferred Charges

Deferred charges include the following (in thousands):



	Year Ended December 31,
	2019		2018
Deferred drydocking costs, net of accumulated amortization of $14,461 and $14,372, respectively	$	35,915	$	20,153
Prepaid lease expense, net of amortization of $0 and $2,016, respectively	—		2,372
Total	$	35,915	$	22,525

Other Accrued Liabilities

12 Months Ended

Dec. 31, 2019

Accrued Liabilities, Current [Abstract]

Other Accrued Liabilities

Other accrued liabilities include the following (in thousands):



	Year Ended December 31,
	2019		2018
Accrued lease expense	$	—	$	5,409
Deferred revenue	2,558		162
Value added tax payable	4,707		1,779
Other	4,353		2,400
Total	$	11,618	$	9,750

Major Customers

12 Months Ended

Dec. 31, 2019

Major Customers

In the years ended December 31, 2019, and 2018, revenues from the following customers represent 10% or more of consolidated revenues:



	Year Ended December 31,
	2019		2018
Customer A	26	%	24	%
Customer B	15	%	18	%

Employment Agreements

12 Months Ended

Dec. 31, 2019

Employment Agreements

The Company has employment agreements with certain members of its executive management team. These agreements include, among other things, contractually stated base level salaries and a structured cash incentive compensation program dependent upon the Company achieving certain targeted financial results. The agreements typically provide for certain targets such as a Revenue target, an EBITDA target and a Safety target, which may be varied from time to time by agreement between the Company and the management executive, as well as a discretionary component. In the event such a member of the executive management team is terminated due to certain events as defined in such officer’s agreement, the employee will continue to receive salary, bonus and other payments for the full remaining term of the agreement. The current term of these employment agreements expires on December 31, 2022 and automatically extends each year thereafter on January 1st, for an additional year.

Condensed Consolidating Financial Statements of Guarantors

12 Months Ended

Dec. 31, 2019

Condensed Financial Information Disclosure [Abstract]

Condensed Consolidating Financial Statements of Guarantors [Text Block]

Condensed Consolidating Financial Statements of Guarantors

The following tables present the condensed consolidating historical financial statements as of December 31, 2019 and 2018, and for each of the two years ended December 31, 2019, for the domestic subsidiaries of the Company that serve as guarantors of the Company's 2019 convertible senior notes, 2020 senior notes, 2021 senior notes, first-lien term loans due 2023, second-lien term loans due 2025 and senior credit facility, and the financial results for the Company's subsidiaries that do not serve as guarantors. The guarantees are full and unconditional and joint and several. Certain prior year amounts have been reclassified to conform with current year presentation.

Condensed Consolidating Balance Sheet

(In thousands, except per share data)



	Year Ended December 31, 2019
	Parent			Guarantor Subsidiaries		Non-Guarantor Subsidiaries			Consolidating			Consolidated
ASSETS
Current assets:
Cash and cash equivalents	$	5		$	119,924	$	1,561		$	—		$	121,490
Accounts receivable, net of allowance for doubtful accounts of $3,987	—			66,095		1,081			(181		)	66,995
Other current assets	—			20,482		28			—			20,510
Total current assets	5			206,501		2,670			(181		)	208,995
Property, plant and equipment, net	—			2,066,350		276,413			—			2,342,763
Restricted cash	—			52,136		—			—			52,136
Deferred charges, net	—			24,613		11,302			—			35,915
Intercompany receivable	1,970,503			8,602		100,043			(2,079,148		)	—
Right of use assets	—			23,286		206			—			23,492
Investment in subsidiaries	498,452			—		—			(498,452		)	—
Other assets	—			5,561		25			—			5,586
Total assets	$	2,468,960		$	2,387,049	$	390,659		$	(2,577,781	)	$	2,668,887
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	577		$	27,584	$	1,932		$	—		$	30,093
Accrued interest	16,950			—		—			—			16,950
Accrued payroll and benefits	—			10,614		1,366			—			11,980
Current portion of long-term debt, including deferred gain of $31,718, net of original issue discount of $3,084 and deferred financing costs of $10,292	1,263,890			—		—			—			1,263,890
Lease liabilities	—			2,814		139			—			2,953
Other accrued liabilities	—			6,212		5,587			(181		)	11,618
Total current liabilities	1,281,417			47,224		9,024			(181		)	1,337,484
Deferred tax liabilities, net	—			132,526		—			—			132,526
Lease liabilities	—			24,152		67			—			24,219
Intercompany payables	15,098			1,650,223		413,800			(2,079,121		)	—
Other liabilities	—			2,240		—			(27		)	2,213
Total liabilities	1,296,515			1,856,365		422,891			(2,079,329		)	1,496,442
Stockholders’ equity:
Preferred stock: $0.01 par value; 5,000 shares authorized; no shares issued and outstanding	—			—		—			—			—
Common stock: $0.01 par value; 100,000 shares authorized; 38,096 shares issued and outstanding	381			—		—			—			381
Additional paid-in capital	766,779			46,573		8			(46,581		)	766,779
Retained earnings	408,789			484,111		(32,240		)	(451,871		)	408,789
Accumulated other comprehensive income (loss)	(3,504		)	—		—			—			(3,504		)
Total stockholders’ equity	1,172,445			530,684		(32,232		)	(498,452		)	1,172,445
Total liabilities and stockholders’ equity	$	2,468,960		$	2,387,049	$	390,659		$	(2,577,781	)	$	2,668,887

Condensed Consolidating Balance Sheet

(In thousands, except per share data)



	Year Ended December 31, 2018
	Parent			Guarantor Subsidiaries		Non-Guarantor Subsidiaries			Consolidating			Consolidated
ASSETS
Current assets:
Cash and cash equivalents	$	1		$	219,217	$	5,718		$	—		$	224,936
Accounts receivable, net of allowance for doubtful accounts of $1,123	—			42,136		12,788			—			54,924
Other current assets	30			18,740		998			—			19,768
Total current assets	31			280,093		19,504			—			299,628
Property, plant and equipment, net	—			2,193,797		241,032			—			2,434,829
Deferred charges, net	—			19,721		2,804			—			22,525
Intercompany receivable	1,920,557			914,060		483,128			(3,317,745		)	—
Investment in subsidiaries	699,325			—		—			(699,325		)	—
Other assets	—			7,118		537			—			7,655
Total assets	$	2,619,913		$	3,414,789	$	747,005		$	(4,017,070	)	$	2,764,637
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	—		$	25,345	$	1,481		$	—		$	26,826
Accrued interest	15,910			—		—			—			15,910
Accrued payroll and benefits	—			11,520		925			—			12,445
Current portion of long-term debt, net of original issue discount of $2,725 and deferred financing costs of $611	96,311			—		—			—			96,311
Other accrued liabilities	—			7,491		2,259			—			9,750
Total current liabilities	112,221			44,356		4,665			—			161,242
Long-term debt, including deferred net gain of $15,845, and net of original issue discount of $3,013 and deferred financing costs of $6,149	1,123,625			—		—			—			1,123,625
Deferred tax liabilities, net	—			167,756		1,366			—			169,122
Intercompany payables	76,141			2,452,258		789,342			(3,317,741		)	—
Other liabilities	—			2,720		2			—			2,722
Total liabilities	1,311,987			2,667,090		795,375			(3,317,741		)	1,456,711
Stockholders’ equity:
Preferred stock: $0.01 par value; 5,000 shares authorized; no shares issued and outstanding	—			—		—			—			—
Common stock: $0.01 par value; 100,000 shares authorized; 37,701 shares issued and outstanding	377			—		—			—			377
Additional paid-in capital	761,834			37,978		8,602			(46,580		)	761,834
Retained earnings	549,475			709,721		(56,972		)	(652,749		)	549,475
Accumulated other comprehensive loss	(3,760		)	—		—			—			(3,760		)
Total stockholders’ equity	1,307,926			747,699		(48,370		)	(699,329		)	1,307,926
Total liabilities and stockholders’ equity	$	2,619,913		$	3,414,789	$	747,005		$	(4,017,070	)	$	2,764,637

Condensed Consolidating Statement of Operations

(In thousands)



	Year Ended December 31, 2019
	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating			Consolidated
Revenues	$	—		$	212,098		$	14,911		$	(1,347	)	$	225,662
Costs and expenses:
Operating expenses	—			164,450			1,527			(1,347		)	164,630
Depreciation	—			86,309			12,030			—			98,339
Amortization	—			12,047			3,927			—			15,974
General and administrative expenses	3,792			49,816			272			—			53,880
	3,792			312,622			17,756			(1,347		)	332,823
Gain on sale of assets	—			62			—			—			62
Operating loss	(3,792		)	(100,462		)	(2,845		)	—			(107,099		)
Other income (expense):

Loss on early extinguishment of debt, net	(71		)	—			—			—			(71		)
Interest income	—			4,469			19			—			4,488
Interest expense	(83,380		)	—			—			—			(83,380		)
Equity in earnings (losses) of consolidated subsidiaries	(51,571		)	—			—			51,571			—
Other income (expense), net	—			11,297			(1,042		)	—			10,255
	(135,022		)	15,766			(1,023		)	51,571			(68,708		)
Income (loss) before income taxes	(138,814		)	(84,696		)	(3,868		)	51,571			(175,807		)
Income tax expense (benefit)	—			(37,275		)	282			—			(36,993		)
Net income (loss)	$	(138,814	)	$	(47,421	)	$	(4,150	)	$	51,571		$	(138,814	)

Condensed Consolidating Statements of Comprehensive Income (Loss)

(In thousands)



	Year Ended December 31, 2019
	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating		Consolidated
Net income (loss)	$	(138,814	)	$	(47,421	)	$	(4,150	)	$	51,571	$	(138,814	)
Other comprehensive income:
Foreign currency translation loss, net	(1,616		)	—			—			—		(1,616		)
Total comprehensive income (loss)	$	(140,430	)	$	(47,421	)	$	(4,150	)	$	51,571	$	(140,430	)

Condensed Consolidating Statement of Operations

(In thousands)



	Year Ended December 31, 2018
	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating			Consolidated
Revenues	$	—		$	201,684		$	11,593		$	(873	)	$	212,404
Costs and expenses:
Operating expenses	—			129,110			19,363			(831		)	147,642
Depreciation	—			91,376			7,551			—			98,927
Amortization	—			8,354			1,387			—			9,741
General and administrative expenses	218			40,931			2,423			(42		)	43,530
	218			269,771			30,724			(873		)	299,840
Gain on sale of assets	—			52			7			—			59
Operating loss	(218		)	(68,035		)	(19,124		)	—			(87,377		)
Other income (expense):
Interest income	—			1,974			254			—			2,228
Interest expense	(63,566		)	—			—			—			(63,566		)
Equity in earnings (losses) of consolidated subsidiaries	(55,339		)	—			—			55,339			—
Other income (expense), net	—			3			(32		)	—			(29		)
	(118,905		)	1,977			222			55,339			(61,367		)
Income (loss) before income taxes	(119,123		)	(66,058		)	(18,902		)	55,339			(148,744		)
Income tax expense (benefit)	—			(30,263		)	642			—			(29,621		)
Net income (loss)	$	(119,123	)	$	(35,795	)	$	(19,544	)	$	55,339		$	(119,123	)

Condensed Consolidating Statements of Comprehensive Income (Loss)

(In thousands)



	Year Ended December 31, 2018
	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating		Consolidated
Net income (loss)	$	(119,123	)	$	(35,795	)	$	(19,544	)	$	55,339	$	(119,123	)
Other comprehensive income:
Foreign currency translation gain (loss)	(12,437		)	—			—			—		(12,437		)
Total comprehensive income (loss)	$	(131,560	)	$	(35,795	)	$	(19,544	)	$	55,339	$	(131,560	)

Condensed Consolidating Statements of Cash Flows

(In thousands)



	Year Ended December 31, 2019
	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating		Consolidated
CASH FLOWS FROM OPERATING ACTIVITIES:
Net cash provided by (used in) operating activities	$	6,222		$	(90,117	)	$	(4,091	)	$	—	$	(87,986	)
CASH FLOWS FROM INVESTING ACTIVITIES:
Costs incurred for OSV newbuild program #5	—			(3,344		)	—			—		(3,344		)
Net proceeds from sale of assets	—			26			42			—		68
Vessel capital expenditures	—			(4,147		)	249			—		(3,898		)
Non-vessel capital expenditures	—			(20		)	(357		)	—		(377		)
Net cash used in investing activities	—			(7,485		)	(66		)	—		(7,551		)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from first-lien term loans	29,159			—			—			—		29,159
Proceeds from senior credit facility	100,000			—			—			—		100,000
Repurchase of convertible notes	(73,076		)	—			—			—		(73,076		)
Payment of deferred financing costs	(11,891		)	—			—			—		(11,891		)
Net cash proceeds from other shares issued	135			—			—			—		135
Intercompany	(50,545		)	50,545			—			—		—
Net cash provided by (used in) financing activities	(6,218		)	50,545			—			—		44,327
Effects of exchange rate changes on cash	—			(100		)	—			—		(100		)
Net increase (decrease) in cash, cash equivalents and restricted cash	4			(47,157		)	(4,157		)	—		(51,310		)
Cash, cash equivalents and restricted cash at beginning of period	1			219,217			5,718			—		224,936
Cash, cash equivalents and restricted cash at end of period	$	5		$	172,060		$	1,561		$	—	$	173,626
SUPPLEMENTAL DISCLOSURES OF CASH FLOW ACTIVITIES:
Cash paid for interest	$	82,415		$	—		$	—		$	—	$	82,415
Cash paid for (refunds of) income taxes	$	—		$	(5,160	)	$	1,571		$	—	$	(3,589	)
SUPPLEMENTAL DISCLOSURES OF NON-CASH FINANCING ACTIVITIES
Exchange of convertible notes for first-lien term loans	$	20,951		$	—		$	—		$	—	$	20,951
Exchange of senior notes for second-lien term loans	$	142,629		$	—		$	—		$	—	$	142,629

Condensed Consolidating Statements of Cash Flows

(In thousands)



	Year Ended December 31, 2018
	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating		Consolidated
CASH FLOWS FROM OPERATING ACTIVITIES:
Net cash provided by (used in) operating activities	$	(133,808	)	$	91,142		$	314		$	—	$	(42,352	)
CASH FLOWS FROM INVESTING ACTIVITIES:
Acquisition of offshore supply vessels	—			(40,868		)	—			—		(40,868		)
Costs incurred for OSV newbuild program #5	—			(3,696		)	—			—		(3,696		)
Net proceeds from sale of assets	—			79			7			—		86
Vessel capital expenditures	—			(6,050		)	(1,865		)	—		(7,915		)
Non-vessel capital expenditures	—			(136		)	5			—		(131		)
Net cash used in investing activities	—			(50,671		)	(1,853		)	—		(52,524		)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from first-lien term loans	133,944			—			—			—		133,944
Shares withheld for payment of employee withholding taxes	(536		)	—			—			—		(536		)
Net cash proceeds from other shares issued	397			—			—			—		397
Net cash provided by financing activities	133,805			—			—			—		133,805
Effects of exchange rate changes on cash	—			—			(842		)	—		(842		)
Net increase (decrease) in cash, cash equivalents and restricted cash	(3		)	40,471			(2,381		)	—		38,087
Cash, cash equivalents and restricted cash at beginning of period	4			178,746			8,099			—		186,849
Cash, cash equivalents and restricted cash at end of period	$	1		$	219,217		$	5,718		$	—	$	224,936
SUPPLEMENTAL DISCLOSURES OF CASH FLOW ACTIVITIES:
Cash paid for interest	$	59,469		$	—		$	—		$	—	$	59,469
Cash paid for income taxes	$	—		$	723		$	219		$	—	$	942

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2019

Revenue Recognition

Cash and Cash Equivalents

Cash and cash equivalents consist of all highly liquid investments in money market funds, deposits and investments available for current use with an initial maturity of three months or less.

Accounts Receivable

Accounts receivable consists of trade receivables, net of reserves and amounts to be rebilled to customers.

Property, Plant and Equipment

Concentration of Credit Risk

Foreign Currency Transaction Gains and Losses

Asset Impairment Assessment

ASC 842, Leases

Lessee Accounting

Lessor Accounting


•	The timing and pattern of transfer for the lease component are the same as those for the non-lease components associated with that lease component.


•	The lease component, if accounted for separately, would be classified as an operating lease.

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2019

Estimated Useful Lives by Classification

The estimated useful lives by classification are as follows:



Offshore supply vessels		25 years
Multi-purpose support vessels		25 years
Non-vessel related property, plant and equipment		3-28 years

Allowance for Doubtful Accounts

The following table represents the allowance for doubtful accounts (in thousands):



	December 31,
	2019		2018
Balance, beginning of year	$	1,123	$	6,054
Changes to provision	2,864		(156		)
Write-offs	—		(4,775		)
Balance, end of year	$	3,987	$	1,123

Schedule of New Accounting Pronouncements and Changes in Accounting Principles

The following table provides a brief description of recent accounting pronouncements that could have a material effect on the Company's financial statements:



Standard	Description	Date of Adoption	Effect on the financial statements and other significant matters



Standards that have been adopted
ASU No. 2016-02, "Leases" (Topic 842)	This standard requires lessees to recognize a lease liability and a right-of-use asset for all leases (with the exception of short-term leases) at the commencement date. ASU 2016-02 requires a modified retrospective application. Early adoption is permitted.	January 1, 2019	The Company adopted this ASU effective January 1, 2019. See further discussion below and in footnote 13.

ASU No. 2018-02, "Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income"	This standard allows companies to reclassify items in accumulated other comprehensive income to retained earnings for stranded tax effects resulting from The Tax Cuts and Jobs Act.	January 1, 2019	The Company adopted ASU No. 2018-02 on January 1, 2019. This adoption had no material impact on its consolidated financial statements.

ASU No. 2018-09, "Codification Improvements"	This standard provides clarification, corrects errors in and makes minor improvements to various ASC topics. Many of the amendments in this update have transition guidance with effective dates for annual periods beginning after December 15, 2018, and some amendments do not require transition guidance and are effective upon issuance of this update.	January 1, 2019	The Company adopted ASU No. 2018-09 on January 1, 2019. This adoption had no material impact on its consolidated financial statements.

ASU No. 2018-11, "Leases" (Topic 842): Targeted Improvements	This standard provides for the election of transition methods between the modified retrospective method and the optional transition relief method. The modified retrospective method is applied to all prior reporting periods presented with a cumulative-effect adjustment recorded in the earliest comparative period while the optional transition relief method is applied beginning in the period of adoption with a cumulative-effect adjustment recorded in such period. Also, this standard allows lessors to elect to not separate non-lease components from the associated lease components if certain criteria are met.	January 1, 2019	The Company adopted ASU No. 2018-11 on January 1, 2019. See further discussion below.

Standards that have not been adopted
ASU No. 2016-13, "Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments"	This standard requires measurement and recognition of expected credit losses for financial assets held. ASU No. 2016-13 requires modified retrospective application. Early adoption is permitted.	January 1, 2023	The Company believes that the implementation of this new guidance will not have a material impact on it consolidated financial statements.

Revenues From Contracts with Customers (Tables)

12 Months Ended

Dec. 31, 2019

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue [Table Text Block]

The Company recognized revenues as follows (in thousands):



	Year Ended December 31,
	2019		2018
Vessel revenues	$	188,319	$	175,767
Vessel management revenues	35,390		33,065
Shore-based facility revenues	1,953		3,572
	$	225,662	$	212,404

Loss Per Share (Tables)

12 Months Ended

Dec. 31, 2019

Earnings Per Share [Abstract]

Reconciliation of Earnings Per Share

The table below reconciles the Company’s earnings per share (in thousands, except for per share data):



	Year Ended December 31,
	2019			2018
Net Loss	$	(138,814	)	$	(119,123	)
Weighted average number of shares of common stock outstanding	37,914			37,508
Add: Net effect of dilutive stock options and unvested restricted stock ^(1)(2)(3)	—			—
Weighted average number of dilutive shares of common stock outstanding	37,914			37,508
Loss per common share:
Basic loss per common share	$	(3.66	)	$	(3.18	)
Diluted loss per common share	$	(3.66	)	$	(3.18	)


(1)	Due to a net loss, the Company excluded from the calculation of loss per share the effect of equity awards representing the rights to acquire 5,626 and 583 shares of common stock for the years ended December 31, 2019 and 2018, respectively.

(2)


(3)	Dilutive unvested restricted stock units are expected to fluctuate from quarter to quarter depending on the Company’s performance compared to a predetermined set of performance criteria. See Note 11 to these financial statements for further information regarding certain of the Company’s restricted stock grants.

Property, Plant and Equipment (Tables)

12 Months Ended

Dec. 31, 2019

Property, Plant and Equipment

Property, plant and equipment consisted of the following (in thousands):



	December 31,
	2019			2018
Offshore supply vessels and multi-purpose support vessels	$	2,851,290		$	2,851,872
Non-vessel related property, plant and equipment	133,647			133,564
Less: Accumulated depreciation	(833,226		)	(735,063		)
	2,151,711			2,250,373
Construction in progress	191,052			184,456
	$	2,342,763		$	2,434,829

Long-Term Debt Including Current Maturities (Tables)

12 Months Ended

Dec. 31, 2019

Debt Disclosure [Abstract]

Outstanding Long-Term Debt

As of the dates indicated below, the Company had the following outstanding long-term debt (in thousands):



	December 31,
	2019			2018
5.875% senior notes due 2020, net of deferred financing costs of $262 and $1,162	$	224,051		$	365,780
5.000% senior notes due 2021, net of deferred financing costs of $1,203 and $2,173	448,797			447,827
1.500% convertible senior notes due 2019, net of original issue discount of $0 and $2,725 and deferred financing costs of $0 and $611	—			96,311
First-lien term loans due 2023, including deferred gain of $13,040 and $15,845, and net of original issue discount of $3,084 and $3,013, and deferred financing costs of $3,256 and $2,814	356,700			310,018
Second-lien term loans due 2025, including deferred gain of $18,678	139,913			—
Senior credit facility, net of deferred financing costs of $5,571	94,429			—
	1,263,890			1,219,936
Less current maturities¹	(1,263,890		)	(96,311		)
	$	—		$	1,123,625


(1)	On March 2, 2020, the Company did not make the interest payment on the 2021 senior notes that was due on such date. As a result of this and cross-default language in its remaining debt obligations, the Company has determined that all of its debt should be presented as current.

The table below summarizes the Company's cash interest payments (in thousands):



	Cash Interest Payments			Payment Dates
5.875% senior notes due 2020	$	6,589		April 1 and October 1
5.000% senior notes due 2021	11,250		(1)	March 1 and September 1
First-lien term loans due 2023	2,652			Variable Monthly (2)
Second-lien term loans due 2025	2,879			January 31, April 30, July 31, and October 31
Senior credit facility	578			Variable Monthly (3)


(1)	An interest payment on the 2021 senior notes in the amount of $11,250 was due on March 2, 2020, but the Company did not make such interest payment.


(2)	The interest rate on the first-lien term loans is variable based on the Company's election. The amount reflected in this table is the monthly amount payable based on the 30-day LIBOR interest rate that was elected and in effect on December 31, 2019 plus an applicable margin, which is currently 7.00%. Please see further discussion of the variable interest rate below.


(3)	The interest rate on the senior credit facility is variable based on the 30-day LIBOR interest rate plus a 5.00% margin. The amount reflected in this table is the monthly amount payable based on the 30-day LIBOR interest rate that was in effect on December 31, 2019. Please see further discussion of the variable interest rate below.

Schedule of Face Value, Carrying Value and Fair Value [Line Items]

Schedule of Carrying Values and Estimated Fair Values of Debt Instruments [Table Text Block]

As of the dates indicated below, the Company had long-term debt including current maturities with the following face values, carrying values and fair values (in thousands):



	December 31, 2019 ⁽⁴⁾						December 31, 2018
	Face Value		Carrying Value		Fair Value		Face Value		Carrying Value		Fair Value
5.875% senior notes due 2020	$	224,313	$	224,051	$	69,503	$	366,942	$	365,780	$	191,727
5.000% senior notes due 2021	450,000		448,797		123,748		450,000		447,827		220,500
1.500% convertible senior notes due 2019	—		—		—		99,647		96,311		88,125
First-lien term loans due 2023 (1)	350,000		356,700		341,906		300,000		310,018		295,875
Second-lien term loans due 2025 (2)	121,235		139,913		66,073		—		—		—
Senior credit facility (3)	100,000		94,429		100,000		—		—		—
	$	1,245,548	$	1,263,890	$	701,230	$	1,216,589	$	1,219,936	$	796,227


(1)	The carrying value of the first-lien term loans due 2023 includes a deferred gain of $13,040 less original issue discount and deferred financing costs of $6,340.


(2)	The carrying value of the second-lien term loans due 2025 includes a deferred gain of $18,678.


(3)	A portion of the senior credit facility was scheduled to mature in 2022 with the balance scheduled to mature in 2025. On February 29, 2020, $50 million of the principal of the senior credit facility was repaid and on May 22, 2020, the remaining $50 million of principal of the senior credit facility was repaid, the latter from the proceeds of the DIP Credit Agreement.

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.

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-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21475-112644

Financial Impact of Stock-Based Compensation Expense Charges

Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2019

Dec. 31, 2018



	Year Ended December 31,
	2019		2018
Income before taxes	$	3,590	$	3,692
Net income	$	2,835	$	2,957
Earnings per common share:
Basic	$	0.07	$	0.08
Diluted	$	0.07	$	0.08

Share-based Payment Arrangement, Option, Activity [Table Text Block]

The following table represents the Company’s stock option activity for the year ended December 31, 2019 (in thousands, except per share data and years):



	Number of Shares	Weighted Average Exercise Price		Weighted- Average Remaining Contractual Term (years)	Aggregate Intrinsic Value
Options outstanding at January 1, 2019	185	$	24.86	2.1	$	—
Grants	—	—		0	—
Exercised	—	—		—	—
Forfeited or expired	—	—		n/a	n/a
Options outstanding at December 31, 2019	185	$	24.86	1.1	$	—
Exercisable options outstanding at December 31, 2019	185	$	24.86	1.1	$	—

The following table represents the Company’s stock option activity for the year ended December 31, 2018 (in thousands, except per share data and years):



	Number of Shares	Weighted Average Exercise Price		Weighted- Average Remaining Contractual Term (years)	Aggregate Intrinsic Value
Options outstanding at January 1, 2018	185	$	24.86	3.1	$	—
Grants	—	—		0	—
Exercised	—	—		—	—
Forfeited or expired	—	—		n/a	n/a
Options outstanding at December 31, 2018	185	$	24.86	2.1	$	—
Exercisable options outstanding at December 31, 2018	185	$	24.86	2.1	$	—

Schedule of Share-Based Payment Award, Stock Appreciation Rights, Valuation Assumptions [Table Text Block]

The following assumptions were used to value SARs on the modification date:



Expected volatility	89.1	%
Expected life	6.0	years
Risk-free interest rate	1.9	%
Expected dividend yield	—	%

Share-based Payment Arrangement, Stock Appreciation Right, Activity [Table Text Block]

The following table represents the Company’s SARs activity for the year ended December 31, 2019 (in thousands, except per share data and years):



	Number of Shares	Weighted Average Exercise Price		Weighted- Average Remaining Contractual Term (years)	Aggregate Intrinsic Value
SARs outstanding at January 1, 2019	—	$	—	0	$	—
Grants	1,601	1.38		10.0	—
Exercised	—	—		—	—
Forfeited or expired	—	—		n/a	n/a
SARs outstanding at December 31, 2019	1,601	$	1.38	9.2	$	—
Exercisable SARs outstanding at December 31, 2019	—	$	—	0	$	—

Summary of Restricted Stock Award Activity

The following table summarizes the equity-settled restricted stock unit awards activity during the year ended December 31, 2019 (in thousands, except per share data):



	Number of Shares		Weighted Avg. Fair Value Per Share
Restricted stock unit awards:
Restricted stock unit awards as of January 1, 2019	388		$	6.73
Granted during the period	—		—
Modified from cash to equity-settled	5,078		1.28
Change in estimated payout of performance unit awards⁽¹⁾	227		1.28
Cancellations during the period	—		—
Vested	(250	)	6.52
Outstanding, as of December 31, 2019	5,443		$	1.43


(1)	Annually the Company reviews the performance compared to pre-determined targets for outstanding performance unit awards. Based on current projections, the Company may increase or decrease the anticipated payout based on its historical operating results and near-term projections.

The following table summarizes the equity-settled restricted stock unit awards activity during the year ended December 31, 2018 (in thousands, except per share data):



	Number of Shares		Weighted Avg. Fair Value Per Share
Restricted stock unit awards:
Restricted stock unit awards as of January 1, 2018	868		$	10.76
Granted during the period	—		—
Change in estimated payout of performance unit awards⁽¹⁾	(6	)	21.84
Cancellations during the period	(1	)	39.30
Vested	(473	)	13.91
Outstanding, as of December 31, 2018	388		$	6.73


(1)	Annually the Company reviews the performance compared to pre-determined targets for outstanding performance unit awards. Based on current projections, the Company may increase or decrease the anticipated payout based on its historical operating results and near-term projections.

Schedule of Cash-Settled Restricted Stock Unit Award Activity [Table Text Block]

The following table summarizes the cash-settled restricted stock unit awards activity during the year ended December 31, 2019 (in thousands, except per share data):



	Number of Shares		Weighted Avg. Fair Value Per Share⁽¹⁾
Cash-Settled restricted stock unit awards:
Cash-settled restricted stock unit awards as of January 1, 2019	4,006		$	4.53
Granted during the period⁽²⁾	2,631		1.38
Modified from cash to equity-settled	(5,078	)	1.28
Change in estimated payout of performance unit awards	—		—
Cancellations during the period	(6	)	2.16
Vested	(1,392	)	5.20
Outstanding, as of December 31, 2019	161		$	3.81


(1)	The weighted-average fair value per share is determined by the stock price on the date of grant for time-based shares.


(2)	Includes only the base shares awarded for both time-based and performance based awards. The performance-based awards have the potential to vest at up to 150% of the aggregate total of the base share awards

The following table summarizes the cash-settled restricted stock unit awards activity during the year ended December 31, 2018 (in thousands, except per share data):



	Number of Shares		Weighted Avg. Fair Value Per Share⁽¹⁾
Cash-Settled restricted stock unit awards:
Cash-settled restricted stock unit awards as of January 1, 2018	1,788		$	6.70
Granted during the period⁽²⁾	2,466		3.37
Change in estimated payout of performance unit awards	68		6.06
Cancellations during the period	(2	)	5.85
Vested	(314	)	8.09
Outstanding, as of December 31, 2018	4,006		$	4.53


(1)	The weighted-average fair value per share is determined by the stock price on the date of grant for time-based shares.


(2)	Includes only the base shares awarded for both time-based and performance based awards. The performance-based awards have the potential to vest at up to 150% of the aggregate total of the base share awards.

Summary of Weighted Average Assumptions and Fair Value of Options under ESPP



	2019			2018
Dividend yield	—		%	—		%
Expected volatility	112.2		%	87.1		%
Risk-free interest rate	1.8		%	2.3		%
Expected term (months)	6			6
Weighted-average grant-date fair value per share	$	0.25		$	0.86

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2019

Components of Long Term Deferred Tax Liabilities Net

The net long-term deferred tax liabilities in the accompanying consolidated balance sheets include the following components (in thousands):



	Year Ended December 31,
	2019			2018
Deferred tax liabilities:
Fixed assets	$	311,081		$	285,704
Deferred charges and other liabilities	9,296			3,292
Total deferred tax liabilities	320,377			288,996
Deferred tax assets:
Net operating loss carryforwards	(158,577		)	(130,814		)
Allowance for doubtful accounts	(897		)	(253		)
Stock-based compensation expense	(1,068		)	(867		)
Tax original issue discount and restructuring costs	(14,216		)	(6,941		)
Right of use liability	(6,114		)	—
Alternative minimum tax credit carryforward	(2,207		)	(4,415		)
Foreign tax credit carryforward	(15,932		)	(18,963		)
Interest expense limitation	(16,761		)	(4,696		)
Other	(5,366		)	(5,863		)
Total deferred tax assets	(221,138		)	(172,812		)
Valuation allowance	33,287			52,938
Total deferred tax liabilities, net	$	132,526		$	169,122

Components of Income Tax Expenses

The components of the income tax expense follow (in thousands):



	Year Ended December 31,
	2019			2018
Current tax expense (benefit):
U.S. and state	$	(2,207	)	$	(5,917	)
Foreign	1,341			1,338
Current tax benefit	(866		)	(4,579		)
Deferred tax expense (benefit):
U.S. and state	(36,362		)	(25,289		)
Foreign	235			247
Deferred tax benefit	(36,127		)	(25,042		)
Total tax benefit	$	(36,993	)	$	(29,621	)

Income (Loss) Before Income Taxes Based on Jurisdiction Earned

Loss from operations before income taxes, based on jurisdiction earned, was as follows (in thousands):



	Year Ended December 31,
	2019			2018
U.S.	$	(135,310	)	$	(124,879	)
Foreign	(40,497		)	(23,865		)
Total loss from operations before income taxes	$	(175,807	)	$	(148,744	)

Summary of Operating Loss Carryforwards [Table Text Block]

The following table represents the Company's NOLs (in thousands):



Jurisdiction	December 31, 2019		Expiration Years
United States	$	470,411	2031-2037
United States	178,199		None
State taxes	152,706		2030-2039
Mexico	26,623		2026-2029
Brazil⁽¹⁾	15,670		None

(1) NOLs in Brazil can only be used to offset up to 30% of taxable income each year.

Reconciliation of Difference Between Company's Income Tax Provision Calculated at Federal Statutory Rate and Actual Income Tax Provision

The following table reconciles the difference between the Company’s income tax provision calculated at the federal statutory rate of 21% and the actual income tax provision (in thousands):



	Year Ended December 31,
	2019			2018
U.S. federal statutory rate	$	(36,920	)	$	(31,236	)
State taxes, net	(2,637		)	(2,231		)
Non-deductible expense	1,548			1,563
Change in valuation allowance	764			1,586
Foreign taxes and other	252			697
	$	(36,993	)	$	(29,621	)

Leases (Tables)

12 Months Ended

Dec. 31, 2019

Leases [Abstract]

Lessee, Operating Lease, Liability, Maturity [Table Text Block]

Annual maturities of operating lease liabilities under non-cancelable leases with terms in excess of one year, as of December 31, 2019, are as follows (in thousands):



	Year Ended December 31, 2019
2020	$	3,098
2021	3,028
2022	3,083
2023	3,122
2024	2,744
Thereafter	41,129
Total lease payments	56,204
Less: imputed interest	29,032
Total operating lease liabilities	$	27,172

Weighted-average remaining lease term (in years)	17.0
Weighted-average discount rate	9.0		%

Deferred Charges (Tables)

12 Months Ended

Dec. 31, 2019

Deferred Charges

Deferred charges include the following (in thousands):



	Year Ended December 31,
	2019		2018
Deferred drydocking costs, net of accumulated amortization of $14,461 and $14,372, respectively	$	35,915	$	20,153
Prepaid lease expense, net of amortization of $0 and $2,016, respectively	—		2,372
Total	$	35,915	$	22,525

Other Accrued Liabilities (Tables)

12 Months Ended

Dec. 31, 2019

Accrued Liabilities, Current [Abstract]

Schedule of Accrued Liabilities [Table Text Block]

Other accrued liabilities include the following (in thousands):



	Year Ended December 31,
	2019		2018
Accrued lease expense	$	—	$	5,409
Deferred revenue	2,558		162
Value added tax payable	4,707		1,779
Other	4,353		2,400
Total	$	11,618	$	9,750

Major Customers (Tables)

12 Months Ended

Dec. 31, 2019

Revenues from Customer Exceeding 10%

In the years ended December 31, 2019, and 2018, revenues from the following customers represent 10% or more of consolidated revenues:



	Year Ended December 31,
	2019		2018
Customer A	26	%	24	%
Customer B	15	%	18	%

Condensed Consolidating Financial Statements of Guarantors (Tables)

12 Months Ended

Dec. 31, 2019

Condensed Financial Information Disclosure [Abstract]

Condensed Balance Sheet [Table Text Block]

Condensed Consolidating Balance Sheet

(In thousands, except per share data)



	Year Ended December 31, 2019
	Parent			Guarantor Subsidiaries		Non-Guarantor Subsidiaries			Consolidating			Consolidated
ASSETS
Current assets:
Cash and cash equivalents	$	5		$	119,924	$	1,561		$	—		$	121,490
Accounts receivable, net of allowance for doubtful accounts of $3,987	—			66,095		1,081			(181		)	66,995
Other current assets	—			20,482		28			—			20,510
Total current assets	5			206,501		2,670			(181		)	208,995
Property, plant and equipment, net	—			2,066,350		276,413			—			2,342,763
Restricted cash	—			52,136		—			—			52,136
Deferred charges, net	—			24,613		11,302			—			35,915
Intercompany receivable	1,970,503			8,602		100,043			(2,079,148		)	—
Right of use assets	—			23,286		206			—			23,492
Investment in subsidiaries	498,452			—		—			(498,452		)	—
Other assets	—			5,561		25			—			5,586
Total assets	$	2,468,960		$	2,387,049	$	390,659		$	(2,577,781	)	$	2,668,887
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	577		$	27,584	$	1,932		$	—		$	30,093
Accrued interest	16,950			—		—			—			16,950
Accrued payroll and benefits	—			10,614		1,366			—			11,980
Current portion of long-term debt, including deferred gain of $31,718, net of original issue discount of $3,084 and deferred financing costs of $10,292	1,263,890			—		—			—			1,263,890
Lease liabilities	—			2,814		139			—			2,953
Other accrued liabilities	—			6,212		5,587			(181		)	11,618
Total current liabilities	1,281,417			47,224		9,024			(181		)	1,337,484
Deferred tax liabilities, net	—			132,526		—			—			132,526
Lease liabilities	—			24,152		67			—			24,219
Intercompany payables	15,098			1,650,223		413,800			(2,079,121		)	—
Other liabilities	—			2,240		—			(27		)	2,213
Total liabilities	1,296,515			1,856,365		422,891			(2,079,329		)	1,496,442
Stockholders’ equity:
Preferred stock: $0.01 par value; 5,000 shares authorized; no shares issued and outstanding	—			—		—			—			—
Common stock: $0.01 par value; 100,000 shares authorized; 38,096 shares issued and outstanding	381			—		—			—			381
Additional paid-in capital	766,779			46,573		8			(46,581		)	766,779
Retained earnings	408,789			484,111		(32,240		)	(451,871		)	408,789
Accumulated other comprehensive income (loss)	(3,504		)	—		—			—			(3,504		)
Total stockholders’ equity	1,172,445			530,684		(32,232		)	(498,452		)	1,172,445
Total liabilities and stockholders’ equity	$	2,468,960		$	2,387,049	$	390,659		$	(2,577,781	)	$	2,668,887

Condensed Consolidating Balance Sheet

(In thousands, except per share data)



	Year Ended December 31, 2018
	Parent			Guarantor Subsidiaries		Non-Guarantor Subsidiaries			Consolidating			Consolidated
ASSETS
Current assets:
Cash and cash equivalents	$	1		$	219,217	$	5,718		$	—		$	224,936
Accounts receivable, net of allowance for doubtful accounts of $1,123	—			42,136		12,788			—			54,924
Other current assets	30			18,740		998			—			19,768
Total current assets	31			280,093		19,504			—			299,628
Property, plant and equipment, net	—			2,193,797		241,032			—			2,434,829
Deferred charges, net	—			19,721		2,804			—			22,525
Intercompany receivable	1,920,557			914,060		483,128			(3,317,745		)	—
Investment in subsidiaries	699,325			—		—			(699,325		)	—
Other assets	—			7,118		537			—			7,655
Total assets	$	2,619,913		$	3,414,789	$	747,005		$	(4,017,070	)	$	2,764,637
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	—		$	25,345	$	1,481		$	—		$	26,826
Accrued interest	15,910			—		—			—			15,910
Accrued payroll and benefits	—			11,520		925			—			12,445
Current portion of long-term debt, net of original issue discount of $2,725 and deferred financing costs of $611	96,311			—		—			—			96,311
Other accrued liabilities	—			7,491		2,259			—			9,750
Total current liabilities	112,221			44,356		4,665			—			161,242
Long-term debt, including deferred net gain of $15,845, and net of original issue discount of $3,013 and deferred financing costs of $6,149	1,123,625			—		—			—			1,123,625
Deferred tax liabilities, net	—			167,756		1,366			—			169,122
Intercompany payables	76,141			2,452,258		789,342			(3,317,741		)	—
Other liabilities	—			2,720		2			—			2,722
Total liabilities	1,311,987			2,667,090		795,375			(3,317,741		)	1,456,711
Stockholders’ equity:
Preferred stock: $0.01 par value; 5,000 shares authorized; no shares issued and outstanding	—			—		—			—			—
Common stock: $0.01 par value; 100,000 shares authorized; 37,701 shares issued and outstanding	377			—		—			—			377
Additional paid-in capital	761,834			37,978		8,602			(46,580		)	761,834
Retained earnings	549,475			709,721		(56,972		)	(652,749		)	549,475
Accumulated other comprehensive loss	(3,760		)	—		—			—			(3,760		)
Total stockholders’ equity	1,307,926			747,699		(48,370		)	(699,329		)	1,307,926
Total liabilities and stockholders’ equity	$	2,619,913		$	3,414,789	$	747,005		$	(4,017,070	)	$	2,764,637

Condensed Income Statement [Table Text Block]

Condensed Consolidating Statement of Operations

(In thousands)



	Year Ended December 31, 2019
	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating			Consolidated
Revenues	$	—		$	212,098		$	14,911		$	(1,347	)	$	225,662
Costs and expenses:
Operating expenses	—			164,450			1,527			(1,347		)	164,630
Depreciation	—			86,309			12,030			—			98,339
Amortization	—			12,047			3,927			—			15,974
General and administrative expenses	3,792			49,816			272			—			53,880
	3,792			312,622			17,756			(1,347		)	332,823
Gain on sale of assets	—			62			—			—			62
Operating loss	(3,792		)	(100,462		)	(2,845		)	—			(107,099		)
Other income (expense):

Loss on early extinguishment of debt, net	(71		)	—			—			—			(71		)
Interest income	—			4,469			19			—			4,488
Interest expense	(83,380		)	—			—			—			(83,380		)
Equity in earnings (losses) of consolidated subsidiaries	(51,571		)	—			—			51,571			—
Other income (expense), net	—			11,297			(1,042		)	—			10,255
	(135,022		)	15,766			(1,023		)	51,571			(68,708		)
Income (loss) before income taxes	(138,814		)	(84,696		)	(3,868		)	51,571			(175,807		)
Income tax expense (benefit)	—			(37,275		)	282			—			(36,993		)
Net income (loss)	$	(138,814	)	$	(47,421	)	$	(4,150	)	$	51,571		$	(138,814	)

Condensed Consolidating Statement of Operations

(In thousands)



	Year Ended December 31, 2018
	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating			Consolidated
Revenues	$	—		$	201,684		$	11,593		$	(873	)	$	212,404
Costs and expenses:
Operating expenses	—			129,110			19,363			(831		)	147,642
Depreciation	—			91,376			7,551			—			98,927
Amortization	—			8,354			1,387			—			9,741
General and administrative expenses	218			40,931			2,423			(42		)	43,530
	218			269,771			30,724			(873		)	299,840
Gain on sale of assets	—			52			7			—			59
Operating loss	(218		)	(68,035		)	(19,124		)	—			(87,377		)
Other income (expense):
Interest income	—			1,974			254			—			2,228
Interest expense	(63,566		)	—			—			—			(63,566		)
Equity in earnings (losses) of consolidated subsidiaries	(55,339		)	—			—			55,339			—
Other income (expense), net	—			3			(32		)	—			(29		)
	(118,905		)	1,977			222			55,339			(61,367		)
Income (loss) before income taxes	(119,123		)	(66,058		)	(18,902		)	55,339			(148,744		)
Income tax expense (benefit)	—			(30,263		)	642			—			(29,621		)
Net income (loss)	$	(119,123	)	$	(35,795	)	$	(19,544	)	$	55,339		$	(119,123	)

Condensed Statement of Comprehensive Income [Table Text Block]

Condensed Consolidating Statements of Comprehensive Income (Loss)

(In thousands)



	Year Ended December 31, 2018
	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating		Consolidated
Net income (loss)	$	(119,123	)	$	(35,795	)	$	(19,544	)	$	55,339	$	(119,123	)
Other comprehensive income:
Foreign currency translation gain (loss)	(12,437		)	—			—			—		(12,437		)
Total comprehensive income (loss)	$	(131,560	)	$	(35,795	)	$	(19,544	)	$	55,339	$	(131,560	)

Condensed Consolidating Statements of Comprehensive Income (Loss)

(In thousands)



	Year Ended December 31, 2019
	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating		Consolidated
Net income (loss)	$	(138,814	)	$	(47,421	)	$	(4,150	)	$	51,571	$	(138,814	)
Other comprehensive income:
Foreign currency translation loss, net	(1,616		)	—			—			—		(1,616		)
Total comprehensive income (loss)	$	(140,430	)	$	(47,421	)	$	(4,150	)	$	51,571	$	(140,430	)

Condensed Cash Flow Statement [Table Text Block]

Condensed Consolidating Statements of Cash Flows

(In thousands)



	Year Ended December 31, 2018
	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating		Consolidated
CASH FLOWS FROM OPERATING ACTIVITIES:
Net cash provided by (used in) operating activities	$	(133,808	)	$	91,142		$	314		$	—	$	(42,352	)
CASH FLOWS FROM INVESTING ACTIVITIES:
Acquisition of offshore supply vessels	—			(40,868		)	—			—		(40,868		)
Costs incurred for OSV newbuild program #5	—			(3,696		)	—			—		(3,696		)
Net proceeds from sale of assets	—			79			7			—		86
Vessel capital expenditures	—			(6,050		)	(1,865		)	—		(7,915		)
Non-vessel capital expenditures	—			(136		)	5			—		(131		)
Net cash used in investing activities	—			(50,671		)	(1,853		)	—		(52,524		)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from first-lien term loans	133,944			—			—			—		133,944
Shares withheld for payment of employee withholding taxes	(536		)	—			—			—		(536		)
Net cash proceeds from other shares issued	397			—			—			—		397
Net cash provided by financing activities	133,805			—			—			—		133,805
Effects of exchange rate changes on cash	—			—			(842		)	—		(842		)
Net increase (decrease) in cash, cash equivalents and restricted cash	(3		)	40,471			(2,381		)	—		38,087
Cash, cash equivalents and restricted cash at beginning of period	4			178,746			8,099			—		186,849
Cash, cash equivalents and restricted cash at end of period	$	1		$	219,217		$	5,718		$	—	$	224,936
SUPPLEMENTAL DISCLOSURES OF CASH FLOW ACTIVITIES:
Cash paid for interest	$	59,469		$	—		$	—		$	—	$	59,469
Cash paid for income taxes	$	—		$	723		$	219		$	—	$	942

Condensed Consolidating Statements of Cash Flows

(In thousands)



	Year Ended December 31, 2019
	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating		Consolidated
CASH FLOWS FROM OPERATING ACTIVITIES:
Net cash provided by (used in) operating activities	$	6,222		$	(90,117	)	$	(4,091	)	$	—	$	(87,986	)
CASH FLOWS FROM INVESTING ACTIVITIES:
Costs incurred for OSV newbuild program #5	—			(3,344		)	—			—		(3,344		)
Net proceeds from sale of assets	—			26			42			—		68
Vessel capital expenditures	—			(4,147		)	249			—		(3,898		)
Non-vessel capital expenditures	—			(20		)	(357		)	—		(377		)
Net cash used in investing activities	—			(7,485		)	(66		)	—		(7,551		)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from first-lien term loans	29,159			—			—			—		29,159
Proceeds from senior credit facility	100,000			—			—			—		100,000
Repurchase of convertible notes	(73,076		)	—			—			—		(73,076		)
Payment of deferred financing costs	(11,891		)	—			—			—		(11,891		)
Net cash proceeds from other shares issued	135			—			—			—		135
Intercompany	(50,545		)	50,545			—			—		—
Net cash provided by (used in) financing activities	(6,218		)	50,545			—			—		44,327
Effects of exchange rate changes on cash	—			(100		)	—			—		(100		)
Net increase (decrease) in cash, cash equivalents and restricted cash	4			(47,157		)	(4,157		)	—		(51,310		)
Cash, cash equivalents and restricted cash at beginning of period	1			219,217			5,718			—		224,936
Cash, cash equivalents and restricted cash at end of period	$	5		$	172,060		$	1,561		$	—	$	173,626
SUPPLEMENTAL DISCLOSURES OF CASH FLOW ACTIVITIES:
Cash paid for interest	$	82,415		$	—		$	—		$	—	$	82,415
Cash paid for (refunds of) income taxes	$	—		$	(5,160	)	$	1,571		$	—	$	(3,589	)
SUPPLEMENTAL DISCLOSURES OF NON-CASH FINANCING ACTIVITIES
Exchange of convertible notes for first-lien term loans	$	20,951		$	—		$	—		$	—	$	20,951
Exchange of senior notes for second-lien term loans	$	142,629		$	—		$	—		$	—	$	142,629

Recent Developments (Details) - Subsequent Event [Member] - USD ($) $ in Millions	Jun. 19, 2020	May 22, 2020	May 19, 2020	Feb. 29, 2020	Jun. 30, 2020
Plan of Reorganization, Date Plan Filed			May 19, 2020
Plan of Reorganization, Date Plan Confirmed	Jun. 19, 2020
Debtor-in-Possession Financing, Amount Arranged		$ 75
Debtor-in-Possession Financing, Borrowings Outstanding					$ 75
senior credit facility member [Domain]
Repayments of Lines of Credit		$ 50		$ 50

Summary of Significant Accounting Policies - Estimated Useful Lives by Classification (Detail)	12 Months Ended
	Dec. 31, 2019
Offshore Supply Vessels
Significant Accounting Policies [Line Items]
Estimated useful life	25 years
Multi Purpose Support Vessel
Significant Accounting Policies [Line Items]
Estimated useful life	25 years
Non-vessel related property, plant and equipment \| Minimum
Significant Accounting Policies [Line Items]
Estimated useful life	3 years
Non-vessel related property, plant and equipment \| Maximum
Significant Accounting Policies [Line Items]
Estimated useful life	28 years

Summary of Significant Accounting Policies (Detail) $ in Thousands	Dec. 31, 2019 USD ($) mo	Jan. 01, 2019 USD ($)	Dec. 31, 2018 USD ($)
Significant Accounting Policies [Line Items]
Deferred Tax Assets, Valuation Allowance	$ 33,287		$ 52,938
Operating Lease, Right-of-Use Asset	23,492	$ 24,700	$ 0
Operating Lease, Liability	$ 27,172	$ 27,700
Offshore supply vessels and multi-purpose support vessels
Significant Accounting Policies [Line Items]
Property, Plant and Equipment, Salvage Value, Percentage	25.00%
Offshore supply vessels and multi-purpose support vessels \| Minimum
Significant Accounting Policies [Line Items]
Amortization period for deferred charges \| mo	24
Offshore supply vessels and multi-purpose support vessels \| Maximum
Significant Accounting Policies [Line Items]
Amortization period for deferred charges \| mo	36

Summary of Significant Accounting Policies - Allowance for Doubtful Accounts (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Significant Accounting Policies [Line Items]
Balance, beginning of year	$ 1,123	$ 6,054
Changes to provision	2,864	(156)
Write-offs	0	(4,775)
Balance, end of year	$ 3,987	$ 1,123

Revenues from Contracts with Customers Revenue, Remaining Peformance Obligation (Details) $ in Millions	Dec. 31, 2019 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-12-31
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Amount	$ 8.4
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Year	2 years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Amount	$ 5.8
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Year	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Amount	$ 2.6
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Year	1 year

Revenues from Contract with Customer (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 225,662	$ 212,404
Vessel Revenues [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	188,319	175,767
Vessel Management Revenues [Domain] [Domain]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	35,390	33,065
Shore-based Facility Revenue [Domain]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 1,953	$ 3,572

Loss Per Share (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands

12 Months Ended

Dec. 31, 2019

Dec. 31, 2018

Earnings Per Share [Abstract]

Net loss

$ (138,814)

$ (119,123)

Weighted average number of shares of common stock outstanding

37,914

37,508

Add: Net effect of dilutive stock options and unvested restricted stock (1)(2)(3)

^[1],[2],[3]

Weighted average number of dilutive shares of common stock outstanding

37,914

37,508

Basic loss per common share

$ (3.66)

$ (3.18)

Diluted loss per common share

$ (3.66)

$ (3.18)

Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]

Anti-dilutive shares excluded from the calculation of diluted earnings per share

5,626

583

[1]	Dilutive unvested restricted stock units are expected to fluctuate from quarter to quarter depending on the Company’s performance compared to a predetermined set of performance criteria. See Note 11 to these financial statements for further information regarding certain of the Company’s restricted stock grants.
[2]	Due to a net loss, the Company excluded from the calculation of loss per share the effect of equity awards representing the rights to acquire 5,626 and 583 shares of common stock for the years ended December 31, 2019 and 2018, respectively.
[3]	For the year ended December 31, 2018, the 2019 convertible senior notes issued in August 2012 were not dilutive, as the average price of the Company’s stock was less than the effective conversion price of such notes. In September 2019, the Company repaid the remaining balance of the 2019 convertible senior notes in full upon their maturity. See Note 9 for further discussion. It was the Company's stated intention to redeem the principal amount of its 2019 convertible senior notes in cash and the Company used the treasury method for determining potential dilution in the diluted earnings per share computation.

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

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

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

+ References + Details

Defined Contribution Plan (Details) - yr	12 Months Ended
Defined Contribution Plan (Details) - yr	Dec. 31, 2019	Dec. 31, 2018
Defined Contribution Plan Disclosure [Line Items]
Minimum age to be eligible for participation	18
Period of service to be eligible for participation	3 months
Percentage of earnings that can be deferred	60.00%
Defined Contribution Plan, Employer Matching Contribution, Percent of Match	0.00%	0.00%

Property, Plant and Equipment (Detail) $ in Thousands	1 Months Ended	12 Months Ended
Property, Plant and Equipment (Detail) $ in Thousands	Nov. 30, 2011 Vessel	Dec. 31, 2018 USD ($) Vessel	Dec. 31, 2019 USD ($)
Property, Plant and Equipment [Line Items]
Less: Accumulated depreciation		$ (735,063)	$ (833,226)
Property Plant And Equipment Excluding Construction In Progress Net		2,250,373	2,151,711
Construction in progress		184,456	191,052
Property, plant and equipment, net		2,434,829	2,342,763
Offshore supply vessels and multi-purpose support vessels
Property, Plant and Equipment [Line Items]
Property Plant and Equipment, Gross		2,851,872	2,851,290
Non-vessel related property, plant and equipment
Property, Plant and Equipment [Line Items]
Property Plant and Equipment, Gross		$ 133,564	$ 133,647
Newbuild Program Five [Member]
Property, Plant and Equipment [Line Items]
Number Of Vessels \| Vessel	24	2

Property, Plant and Equipment - Additional Information (Detail) $ in Millions	1 Months Ended	12 Months Ended				108 Months Ended
	Nov. 30, 2011 Vessel	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 Vessel	Dec. 31, 2019 USD ($)
Property, Plant and Equipment [Line Items]
Aggregate cost of OSV newbuild program excluding construction period interest				$ 1,335.0
Litigation Settlement, Amount Awarded from Other Party				15.4
Newbuild Program Five [Member]
Property, Plant and Equipment [Line Items]
Number Of Vessels \| Vessel	24				2
Cost incurred on OSV newbuild program				$ 3.3		$ 1,277.5
Percentage of total project cost						95.70%
Newbuild Program Five [Member] \| Subsequent Event [Member]
Property, Plant and Equipment [Line Items]
Estimated Construction Cost, Year Seven			$ 22.9
Estimated Construction Cost, Year Eight		$ 34.6

Acquisition of Vessels (Details) $ in Thousands		12 Months Ended
Acquisition of Vessels (Details) $ in Thousands	May 18, 2018 USD ($) Vessel	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)
Finite-Lived Intangible Assets [Line Items]
Number of Vessels Purchased \| Vessel	4
Cost Of Vessel Purchase	$ 40,900	$ 0	$ 40,868
Finite-Lived Noncompete Agreements, Gross	$ 4,000
Noncompete Agreements [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	2 years

Long-Term Debt Including Current Maturities (Details) - USD ($)
$ in Thousands

12 Months Ended

Oct. 01, 2020

Sep. 01, 2020

Jul. 31, 2020

Dec. 31, 2020

Dec. 31, 2019

Dec. 31, 2018

Mar. 14, 2013

Aug. 13, 2012

Mar. 02, 2012

Long-term Debt, Current Maturities

$ 0

$ 15,845

Long-term Debt

1,263,890

1,219,936

(1,263,890)

^[1]

(96,311)

Long-term debt, Excluding Current Maturities

1,123,625

1,245,548

1,216,589

Senior Notes 5.875 Percent Due 2020

$ 701,230

$ 796,227

5.875%

$ 262

$ 1,162

224,051

365,780

224,313

366,942

$ 375,000

Senior Notes 5.000 Percent Due 2021

$ 69,503

$ 191,727

5.00%

$ 1,203

$ 2,173

448,797

447,827

450,000

$ 450,000

Convertible 1.500 Percent Senior Notes Due 2019

$ 123,748

$ 220,500

1.50%

$ 0

$ 611

96,311

2,725

99,647

$ 300,000

First-Lien Credit Facility Maturing Twenty Twenty Three [Member] [Domain]

88,125

3,256

2,814

3,084

3,013

Long-term Line of Credit

356,700

^[2]

310,018

$ 13,040

15,845

Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net

Jun. 15, 2023

$ 6,340

5,827

350,000

300,000

Second-Lien Credit Facility Maturing Twenty Twenty Five [Member]

$ 341,906

295,875

9.50%

Long-term Line of Credit

$ 139,913

^[3]

18,678

121,235

senior credit facility member [Domain]

66,073

5,571

Long-term Line of Credit

$ 94,429

Jun. 28, 2022

Senior Credit Facility, Fair Value

$ 100,000

^[4]

$ 100,000

$ 0

Subsequent Event [Member] | Senior Notes 5.875 Percent Due 2020

Subsequent Event [Member] | Senior Notes 5.000 Percent Due 2021

$ 6,589

Subsequent Event [Member] | First-Lien Credit Facility Maturing Twenty Twenty Three [Member] [Domain]

^[5]

$ 11,250

Subsequent Event [Member] | Second-Lien Credit Facility Maturing Twenty Twenty Five [Member]

^[6]

$ 2,652

Subsequent Event [Member] | senior credit facility member [Domain]

$ 2,879

Cash Backed [Domain] [Domain] | senior credit facility member [Domain]

^[7]

$ 578

May 27, 2025

[1]	On March 2, 2020, the Company did not make the interest payment on the 2021 senior notes that was due on such date. As a result of this and cross-default language in its remaining debt obligations, the Company has determined that all of its debt should be presented as current.
[2]	The carrying value of the first-lien term loans due 2023 includes a deferred gain of $13,040 less original issue discount and deferred financing costs of $6,340.
[3]	The carrying value of the second-lien term loans due 2025 includes a deferred gain of $18,678.
[4]	A portion of the senior credit facility was scheduled to mature in 2022 with the balance scheduled to mature in 2025. On February 29, 2020, $50 million of the principal of the senior credit facility was repaid and on May 22, 2020, the remaining $50 million of principal of the senior credit facility was repaid, the latter from the proceeds of the DIP Credit Agreement.
[5]	An interest payment on the 2021 senior notes in the amount of $11,250 was due on March 2, 2020, but the Company did not make such interest payment.
[6]	The interest rate on the first-lien term loans is variable based on the Company's election. The amount reflected in this table is the monthly amount payable based on the 30-day LIBOR interest rate that was elected and in effect on December 31, 2019 plus an applicable margin, which is currently 7.00%. Please see further discussion of the variable interest rate below.
[7]	The interest rate on the senior credit facility is variable based on the 30-day LIBOR interest rate plus a 5.00% margin. The amount reflected in this table is the monthly amount payable based on the 30-day LIBOR interest rate that was in effect on December 31, 2019. Please see further discussion of the variable interest rate below.

Long-Term Debt Including Current Maturities - Annual Maturities of Debt (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Mar. 14, 2013	Mar. 02, 2012
Debt Instrument [Line Items]
Debt, Face Value	$ 1,245,548	$ 1,216,589
Debt, Fair Value	701,230	796,227
Senior Notes Five Point Eight Seven Five Percent Due Twenty Twenty [Member]
Debt Instrument [Line Items]
Debt, Face Value	$ 224,313	366,942		$ 375,000
Debt Instrument, Maturity Date	Apr. 01, 2020
Debt, Fair Value	$ 69,503	191,727
Senior Notes Five Point Zero Zero Zero Percent Due Twenty Twenty One [Member]
Debt Instrument [Line Items]
Debt, Face Value	$ 450,000	450,000	$ 450,000
Debt Instrument, Maturity Date	Mar. 01, 2021
Debt, Fair Value	$ 123,748	220,500
First-Lien Credit Facility Maturing Twenty Twenty Three [Member] [Domain]
Debt Instrument [Line Items]
Debt, Face Value	350,000	300,000
Debt, Fair Value	$ 341,906	$ 295,875

Long-Term Debt Including Current Maturities - Additional Information (Details) - USD ($)
$ / shares in Units, $ in Thousands

3 Months Ended

12 Months Ended

24 Months Ended

71 Months Ended

72 Months Ended

Feb. 07, 2025

Mar. 01, 2021

Jan. 31, 2021

Oct. 31, 2020

Oct. 01, 2020

Sep. 01, 2020

Jul. 31, 2020

May 22, 2020

Apr. 30, 2020

Apr. 01, 2020

Feb. 29, 2020

Sep. 03, 2019

Mar. 01, 2019

Mar. 14, 2013

Aug. 13, 2012

Mar. 02, 2012

Mar. 31, 2019

Jun. 15, 2021

Dec. 31, 2020

Jun. 15, 2020

Dec. 31, 2019

Jun. 15, 2019

Dec. 31, 2018

Jun. 15, 2018

Jun. 15, 2023

May 27, 2025

Jun. 15, 2023

Jun. 15, 2017

First Lien Credit Facility, Initial Borrowing Capacity

$ 0

$ 15,845

Restricted Cash

52,100

$ 300,000

First Lien Credit Facility, Incremental Borrowing Capacity

$ 50,000

Proceeds from first-lien term loans

29,159

133,944

(71)

1,245,548

1,216,589

First-Lien Credit Facility Maturing Twenty Twenty Three [Member] [Domain]

701,230

796,227

Capitalized Interest

2,300

$ 3,256

2,814

Jun. 15, 2023

$ 3,084

3,013

Proceeds from first-lien term loans

13,040

15,845

Letter of Credit

356,700

^[1]

310,018

30,100

19,900

Extinguishment of Debt, Gain (Loss), Net of Tax

$ 1,300

$ 1,100

Extinguishment of Debt, Gain (Loss), Per Share, Net of Tax

$ 0.03

350,000

300,000

First Lien Credit Facility, Unamortized Discount and Debt Issuance Costs, Net

341,906

295,875

$ 6,340

$ 5,827

First-Lien Credit Facility Maturing Twenty Twenty Three [Member] [Domain] | London Interbank Offered Rate (LIBOR) [Member]

First-Lien Credit Facility Maturing Twenty Twenty Three [Member] [Domain] | Prime Rate [Member]

650.00%

600.00%

Senior Notes 5.875 Percent Due 2020

550.00%

500.00%

5.875%

$ 262

$ 1,162

$ 224,051

365,780

$ 142,600

Debt Instrument, Repurchased Face Amount

Apr. 01, 2020

$ 8,100

Proceeds from Issuance of Debt

$ 375,000

$ 224,313

366,942

$ 367,400

Debt Instrument, Interest Rate, Effective Percentage

6.08%

senior credit facility member [Domain]

$ 69,503

191,727

$ 5,571

Jun. 28, 2022

Letter of Credit

$ 94,429

Second-Lien Credit Facility Maturing Twenty Twenty Five [Member]

$ 100,000

^[2]

9.50%

$ 18,678

Letter of Credit

139,913

^[3]

121,200

Extinguishment of Debt, Gain (Loss), Net of Tax

2,400

$ 1,900

Extinguishment of Debt, Gain (Loss), Per Share, Net of Tax

$ 0.05

121,235

Senior Notes 5.000 Percent Due 2021

$ 66,073

$ 0

5.00%

$ 1,203

$ 2,173

$ 448,797

447,827

Mar. 01, 2021

Proceeds from Issuance of Debt

$ 450,000

450,000

$ 442,400

Debt Instrument, Interest Rate, Effective Percentage

5.21%

Convertible 1.500 Percent Senior Notes Due 2019

$ 123,748

$ 220,500

1.50%

$ 0

$ 611

96,311

2,725

$ 21,000

Extinguishment of Debt, Gain (Loss), Net of Tax

3,600

$ 2,900

Extinguishment of Debt, Gain (Loss), Per Share, Net of Tax

$ 0.08

Debt Instrument, Repurchased Face Amount

Sep. 01, 2019

$ 52,900

Debt Instrument, Repurchase Amount

47,600

Extinguishment of Debt, Amount

$ 25,800

Debt Instrument, Interest Rate, Effective Percentage

$ 300,000

99,647

6.23%

Proceeds from Convertible Debt

$ 300,000

Discount Rate Used To Determine Liability Fair Value

5.75%

Debt Instrument Convertible Carrying Amount Of Liability Component

$ 227,600

Debt Instrument, Convertible, Carrying Amount of Equity Component

$ 72,400

Debt Instrument, Term

7 years

First Lien Credit Facility Number Of Vessels Used As Collateral [Member]

$ 0

$ 88,125

First Lien Credit Facility Collateral

First Lien Credit Facility Number of High-Spec Foreign OSVs Used as Collateral [Member]

First Lien Credit Facility Collateral

ten

First Lien Credit Facility Number Of Newbuild MPSVs Used As Collateral [Member]

First Lien Credit Facility Collateral

two

Subsequent Event [Member] | First-Lien Credit Facility Maturing Twenty Twenty Three [Member] [Domain]

Debt Instrument, Frequency of Interest Payment

Variable

Subsequent Event [Member] | First-Lien Credit Facility Maturing Twenty Twenty Three [Member] [Domain] | London Interbank Offered Rate (LIBOR) [Member]

First Lien Credit Facility Floor Interest Rate

725.00%

700.00%

750.00%

100.00%

Subsequent Event [Member] | First-Lien Credit Facility Maturing Twenty Twenty Three [Member] [Domain] | Prime Rate [Member]

Subsequent Event [Member] | senior credit facility member [Domain]

625.00%

600.00%

650.00%

Debt Instrument, Frequency of Interest Payment

Monthly

Repayments of Lines of Credit

$ 50,000

Subsequent Event [Member] | senior credit facility member [Domain] | London Interbank Offered Rate (LIBOR) [Member]

Subsequent Event [Member] | Second-Lien Credit Facility Maturing Twenty Twenty Five [Member]

5.00%

Subsequent Event [Member] | Semi Annual Payment First Payment [Member] | Senior Notes 5.875 Percent Due 2020

Feb. 07, 2025

Subsequent Event [Member] | Semi Annual Payment First Payment [Member] | Senior Notes 5.000 Percent Due 2021

--04-01

Subsequent Event [Member] | Semi Annual Payment Second Payment [Member] | Senior Notes 5.875 Percent Due 2020

--03-01

Subsequent Event [Member] | Semi Annual Payment Second Payment [Member] | Senior Notes 5.000 Percent Due 2021

--10-01

Subsequent Event [Member] | Quarterly Payment, First Payment [Domain] | Second-Lien Credit Facility Maturing Twenty Twenty Five [Member]

--09-01

Subsequent Event [Member] | Quarterly Payment, Second Payment [Domain] | Second-Lien Credit Facility Maturing Twenty Twenty Five [Member]

--01-31

Subsequent Event [Member] | Quarterly Payment, Third Payment [Domain] | Second-Lien Credit Facility Maturing Twenty Twenty Five [Member]

--04-30

Subsequent Event [Member] | Quarterly Payment, Fourth Payment [Domain] | Second-Lien Credit Facility Maturing Twenty Twenty Five [Member]

--07-31

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

--10-31

[1]	The carrying value of the first-lien term loans due 2023 includes a deferred gain of $13,040 less original issue discount and deferred financing costs of $6,340.
[2]	A portion of the senior credit facility was scheduled to mature in 2022 with the balance scheduled to mature in 2025. On February 29, 2020, $50 million of the principal of the senior credit facility was repaid and on May 22, 2020, the remaining $50 million of principal of the senior credit facility was repaid, the latter from the proceeds of the DIP Credit Agreement.
[3]	The carrying value of the second-lien term loans due 2025 includes a deferred gain of $18,678.

Stockholders' Equity (Details)	12 Months Ended
Stockholders' Equity (Details)	Dec. 31, 2019 Series shares	Dec. 31, 2018 shares
Stockholders Equity Note [Line Items]
Preferred stock, shares authorized \| shares	5,000,000	5,000,000
Business days after public announcement	10 days
Minimum
Stockholders Equity Note [Line Items]
Number of Series of Preferred Stock Issued \| Series	1
Percentage of Outstanding Common Stock Acquired	10.00%

- Stock-Based Compensation (Details) - USD ($)
$ / shares in Units, shares in Thousands

3 Months Ended

12 Months Ended

24 Months Ended

Jun. 20, 2019

Jun. 30, 2019

Dec. 31, 2020

Dec. 31, 2019

Dec. 31, 2018

Dec. 31, 2021

Dec. 31, 2017

Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized

7,000

Stock-based incentive compensation plan, maximum number of shares covered

11,950

Share-based Payment Arrangement, Plan Modification, Incremental Cost

$ 0

Incentive Compensation Plan, Number of shares available for grants in future

700

Proceeds from Stock Options Exercised

$ 3,590,000

$ 3,692,000

$ 0

Performance Shares

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Performance Shares | Minimum

3 years

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Percentage Thresholds For Potential Shares To Be Issued

1 year

0.00%

Performance Shares | Maximum

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Percentage Thresholds For Potential Shares To Be Issued

3 years

150.00%

Time Based Restricted Stock Units (RSU) | Minimum

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Restricted Stock Units (RSUs) [Member]

1 year

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Unamortized stock based compensation expense

$ 2,500,000

$ 1,600,000

$ 3,200,000

Phantom Share Units (PSUs)

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Share-based Payment Arrangement, Plan Modification, Number of Shares Affected

5,078

Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Cash Settled, Nonvested, Number

200

161

4,006

1,788

$ 400,000

$ 1,600,000

Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value

3 years

$ 1.38

^[1]

$ 3.37

^[2]

Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value

$ 3.81

^[1]

4.53

^[1],[2]

$ 6.70

^[2]

Unamortized stock based compensation expense

$ 100,000

Number of Trailing Days Used to Calculate Average Stock Price

10 days

Equity Option [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Expiration period from the date of grant (in years)

10 years

Stock Appreciation Rights (SARs) [Member]

3 years

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Share-based Payment Arrangement, Plan Modification, Number of Shares Affected

1,600

Expiration period from the date of grant (in years)

$ 600,000

10 years

Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value

3 years

$ 1.38

Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value

$ 1.02

$ 1.38

$ 0.00

Unamortized stock based compensation expense

$ 1,000,000

Time Based Restricted Stock [Member] | Maximum

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Employee Stock Purchase Plan

3 years

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Stock-based incentive compensation plan, maximum number of shares covered

2,200

Incentive Compensation Plan, Number of shares available for grants in future

500

Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value

$ 100,000

$ 200,000

$ 0.25

$ 0.86

Share Based Compensation Arrangements By Share Based Payment Award Discount From Market Price

15.00%

Subsequent Event [Member] | Restricted Stock Units (RSUs) [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Unamortized stock based compensation expense, recognition period

1 year 3 months 24 days

Subsequent Event [Member] | Phantom Share Units (PSUs)

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Unamortized stock based compensation expense, recognition period

10 months 27 days

Subsequent Event [Member] | Stock Appreciation Rights (SARs) [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Unamortized stock based compensation expense, recognition period

1 year 4 months 26 days

[1]	The weighted-average fair value per share is determined by the stock price on the date of grant for time-based shares.
[2]	The weighted-average fair value per share is determined by the stock price on the date of grant for time-based shares.

Stock-Based Compensation - Financial Impact of Stock-Based Compensation Expense (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Payment Arrangement, Expense, after Tax	$ 2,835	$ 2,957
Earnings per common share:
Basic (usd per share)	$ 0.07	$ 0.08
Diluted (usd per share)	$ 0.07	$ 0.08

Stock-Based Compensation - Fair Value of Stock Appreciation Rights Granted Under Company's Incentive Compensation Plan Estimated Using Black-Scholes Pricing Model Weighted-Average Assumptions (Details) - Stock Appreciation Rights (SARs) [Member]	Jun. 20, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility	89.10%
Expected Life	6 years
Risk-free interest rate	1.90%
Expected Dividend Yield	0.00%

Stock-Based Compensation - Summary of Stock Option Activity (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands			12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term (Years)	2 years 1 month 12 days	3 years 1 month 12 days	1 year 1 month 12 days	2 years 1 month 12 days
Number of Shares
Options outstanding at Beginning of Year			185	185
Grants			0	0
Exercised			0	0
Forfeited or expired			0	0
Options outstanding at End of Year	185	185	185	185
Exercisable options outstanding at End of Year	185		185	185
Weighted Average Exercise Price
Options outstanding at Beginning of Year			$ 24.86	$ 24.86
Grants			0.00	0.00
Exercised			0.00	0.00
Forfeited or expired			0.00	0.00
Options outstanding at End of Year	$ 24.86	$ 24.86	24.86	24.86
Exercisable options outstanding at End of Year	$ 24.86		$ 24.86	$ 24.86
Weighted Average Remaining Contractual Term (years)
Grants			0 years	0 years
Exercisable Options Outstanding at End of Year			1 year 1 month 12 days	2 years 1 month 12 days
Aggregate Intrinsic Value
Options outstanding at Beginning of Year			$ 0	$ 0
Grants			$ 0	$ 0
Exercised			$ 0	$ 0
Options outstanding at End of Year	$ 0	$ 0	0	0
Exercisable options outstanding at End of Year	$ 0		$ 0	$ 0
Equity Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period			10 years

Stock-Based Compensation - Summary of Restricted Stock Award Activity (Details) - Restricted Stock [Member] - $ / shares
shares in Thousands

12 Months Ended

Dec. 31, 2019

Dec. 31, 2018

Dec. 31, 2017

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested

5,443

388

868

Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period

Change In Estimated Payout of Performance Unit Awards

(227)

^[1]

(6)

^[2]

Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Cancelled In Period

(1)

Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period

(250)

(473)

Weighted-Average Grant-Date Fair Value

Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value

$ 1.43

$ 6.73

$ 10.76

Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value

0.00

Change In Estimated Payout of Performance Unit Awards, Weighted Average Fair Value Per Share

1.28

21.84

Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Cancelled And Forfeited In Period Weighted Average Grant Date Fair Value

0.00

39.30

Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value

$ 6.52

$ 13.91

[1]	Annually the Company reviews the performance compared to pre-determined targets for outstanding performance unit awards. Based on current projections, the Company may increase or decrease the anticipated payout based on its historical operating results and near-term projections.
[2]	Annually the Company reviews the performance compared to pre-determined targets for outstanding performance unit awards. Based on current projections, the Company may increase or decrease the anticipated payout based on its historical operating results and near-term projections.

Stock-Based Compensation - Summary of Restricted Stock Award Activity (Detail) - $ / shares
shares in Thousands

3 Months Ended

12 Months Ended

Jun. 30, 2019

Dec. 31, 2019

Dec. 31, 2018

Restricted Stock [Member]

Number of Shares

388

868

Share-based Payment Arrangement, Plan Modification, Number of Shares Affected

(5,078)

Change In Estimated Payout of Performance Unit Awards

227

^[1]

^[2]

Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period

Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period

(250)

(473)

5,443

388

Weighted Avg. Fair Value Per Share

$ 6.73

$ 10.76

Modified From Cash to Equity-Settled Weighted Average Fair Value Per Share

0.00

1.28

Change In Estimated Payout of Performance Unit Awards, Weighted Average Fair Value Per Share

1.28

21.84

Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeitures, Weighted Average Grant Date Fair Value

0.00

39.30

Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value

6.52

13.91

$ 1.43

$ 6.73

Restricted Stock

Number of Shares

4,006

1,788

Share-based Payment Arrangement, Plan Modification, Number of Shares Affected

2,631

^[3]

2,466

^[4]

(5,078)

Change In Estimated Payout of Performance Unit Awards

Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period

Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period

(1,392)

(314)

161

4,006

Weighted Avg. Fair Value Per Share

^[5]

$ 4.53

^[6]

$ 6.70

Modified From Cash to Equity-Settled Weighted Average Fair Value Per Share

1.38

^[6]

3.37

^[5]

^[6]

$ 1.28

Change In Estimated Payout of Performance Unit Awards, Weighted Average Fair Value Per Share

0.00

6.06

Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeitures, Weighted Average Grant Date Fair Value

2.16

^[6]

5.85

^[5]

Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value

5.20

^[6]

8.09

^[5]

^[6]

$ 3.81

$ 4.53

^[5]

[1]	Annually the Company reviews the performance compared to pre-determined targets for outstanding performance unit awards. Based on current projections, the Company may increase or decrease the anticipated payout based on its historical operating results and near-term projections.
[2]	Annually the Company reviews the performance compared to pre-determined targets for outstanding performance unit awards. Based on current projections, the Company may increase or decrease the anticipated payout based on its historical operating results and near-term projections.
[3]	Includes only the base shares awarded for both time-based and performance based awards. The performance-based awards have the potential to vest at up to 150% of the aggregate total of the base share awards.
[4]	Includes only the base shares awarded for both time-based and performance based awards. The performance-based awards have the potential to vest at up to 150% of the aggregate total of the base share awards.
[5]	The weighted-average fair value per share is determined by the stock price on the date of grant for time-based shares.
[6]	The weighted-average fair value per share is determined by the stock price on the date of grant for time-based shares.

Stock-Based Compensation - Summary of Weighted Average Assumptions and Fair Value of Options under ESPP (Details) - Employee Stock Purchase Plan - $ / shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value	$ 0.25	$ 0.86
Expected volatility	112.20%	87.10%
Risk-free interest rate	1.80%	2.30%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term	6 months	6 months
Expected Dividend Yield	0.00%	0.00%

Stock-Based Compensation Summary of Stock Appreciation Rights Activity (Details) $ / shares in Units, shares in Thousands, $ in Thousands				12 Months Ended
	Dec. 31, 2019 USD ($) $ / shares shares	Jun. 20, 2019 $ / shares	Dec. 31, 2018 USD ($) $ / shares shares	Dec. 31, 2019 USD ($) $ / shares shares	Dec. 31, 2018 USD ($) $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Payment Arrangement, Expense				$ 3,590	$ 3,692
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Exercises in Period, Intrinsic Value				$ 0
Stock Appreciation Rights (SARs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period				10 years
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number \| shares	1,601		0	1,601	0
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value \| $ / shares	$ 1.38	$ 1.02	$ 0.00	$ 1.38	$ 0.00
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Outstanding, Weighted Average Remaining Contractual Terms	9 years 2 months 6 days		0 years
Expected Life		6 years
Share-based Payment Arrangement, Expense				$ 600
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Aggregate Intrinsic Value, Outstanding	$ 0		$ 0	$ 0	$ 0
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period \| shares				1,601
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value \| $ / shares				$ 1.38
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period				3 years
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Granted, Weighted Average Remaining Contractual Terms				10 years
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Aggregate Intrinsic Value				$ 0
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period \| shares				0
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Exercises in Period, Weighted Average Grant Date Fair Value \| $ / shares				0.00
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period \| shares				0
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Cancelled And Forfeited In Period Weighted Average Grant Date Fair Value \| $ / shares				$ 0.00
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Vested and Expected to Vest, Exercisable, Number \| shares	0			0
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested and Expected to Vest, Exercisable, Weighted Average Grant Date Fair Value \| $ / shares	0.00			0.00
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Exercisable, Weighted Average Remaining Contractual Term	0 years
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested and Expected to Vest, Exercisable, Aggregate Intrinsic Value	$ 0			$ 0

Income Taxes - Components of Long Term Deferred Tax Liabilities Net (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Deferred tax liabilities:
Fixed assets	$ 311,081	$ 285,704
Deferred charges and other liabilities	9,296	3,292
Deferred Tax Liabilities, Gross	320,377	288,996
Deferred tax assets:
Net operating loss carryforwards	(158,577)	(130,814)
Allowance for doubtful accounts	(897)	(253)
Stock-based compensation expense	(1,068)	(867)
Tax original issue discount and restructuring costs	(14,216)	(6,941)
Right of use liability	(6,114)	0
Alternative minimum tax credit carryforward	(2,207)	(4,415)
Foreign tax credit carryforward	(15,932)	(18,963)
Interest expense limitation	(16,761)	(4,696)
Other	(5,366)	(5,863)
Total deferred tax assets	(221,138)	(172,812)
Valuation allowance	33,287	52,938
Deferred tax liabilities, net
Total deferred tax liabilities, net	$ 132,526	$ 169,122

Income Taxes (Details) - USD ($)
$ in Thousands

3 Months Ended

12 Months Ended

Dec. 31, 2018

Dec. 31, 2019

Deferred Tax Assets, Valuation Allowance

$ 52,938

$ 33,287

Federal statutory rate

21.00%

Tax Cuts and Jobs Act, Income Tax Benefit

$ 200

Foreign markets

Tax Credit Carryforward, Amount

$ 15,900

State and Local Jurisdiction

Secretariat of the Federal Revenue Bureau of Brazil [Member] | Foreign markets

152,706

Internal Revenue Service (IRS) [Member]

^[1]

15,670

Internal Revenue Service (IRS) [Member] | Domestic Tax Authority [Member]

470,411

Mexican Tax Authority [Member] | Foreign markets

178,199

Condensed Balance Sheet Statements, Captions [Line Items]

$ 26,623

[1]	NOLs in Brazil can only be used to offset up to 30% of taxable income each year.

Income Taxes - Components of Income Tax Expenses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Income Taxes [Line Items]
Current Federal, State and Local, Tax Benefit	$ (2,207)	$ (5,917)
Deferred Income Tax Expense (Benefit), Continuing Operations [Abstract]
Foreign current tax expense	1,341	1,338
Current tax benefit	(866)	(4,579)
Deferred Federal, State and Local, Tax Benefit	(36,362)	(25,289)
Deferred Foreign Income Tax Expense	235	247
Deferred tax benefit	(36,127)	(25,042)
Total tax benefit	$ (36,993)	$ (29,621)

Income Taxes - Income (Loss) Before Income Taxes Based on Jurisdiction Earned (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Income Taxes [Line Items]
Loss from Continuing Operations before Income Taxes, Domestic	$ (135,310)	$ (124,879)
Loss from Continuing Operations before Income Taxes, Foreign	(40,497)	(23,865)
Loss before Income Taxes	$ (175,807)	$ (148,744)

Income Taxes - Reconciliation of Difference Between Company's Income Tax Provision Calculated at Federal Statutory Rate and Actual Income Tax Provision (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Reconciliation of Provision of Income Taxes [Line Items]
Effective Income Tax Rate Reconciliation at Federal Statutory Income Tax Rate, Amount	$ (36,920)	$ (31,236)
Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Amount	(2,637)	(2,231)
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Amount	1,548	1,563
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Amount	764	1,586
Effective Income Tax Rate Reconciliation, Foreign Income Tax Rate Differential, Amount	252	697
Total tax benefit	$ (36,993)	$ (29,621)

Leases (Details) - USD ($) $ in Thousands	12 Months Ended
Leases (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Jan. 01, 2019
Leases [Abstract]
Operating Lease, Expense	$ 4,200
Short-term operating lease expense	500
Operating Lease, Payments	3,600
Lessee, Operating Lease, Liability, Payments, Due Next Twelve Months	3,098
Lessee, Operating Lease, Liability, Payments, Due Year Two	3,028
Lessee, Operating Lease, Liability, Payments, Due Year Three	3,083
Lessee, Operating Lease, Liability, Payments, Due Year Four	3,122
Lessee, Operating Lease, Liability, Payments, Due Year Five	2,744
Lessee, Operating Lease, Liability, Payments, Due after Year Five	41,129
Lessee, Operating Lease, Liability, Payments, Due	56,204
Lessee, Operating Lease, Liability, Imputed Interest	29,032
Operating Lease, Liability	$ 27,172	$ 27,700
Operating Lease, Weighted Average Remaining Lease Term	17 years
Operating Lease, Weighted Average Discount Rate, Percent	9.00%

Deferred Charges (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Line Items]
Deferred drydocking costs, net of accumulated amortization of $14,461 and $14,372 respectively	$ 35,915	$ 20,153
Prepaid lease expense, net of amortization of $0 and $2,016, respectively	0	2,372
Total	$ 35,915	$ 22,525

Deferred Charges (Additional Information) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Line Items]
Accumulated Amortization Deferred Drydocking Cost	$ 14,461	$ 14,372
Accumulated Amortization of Prepaid Lease Expense	$ 0	$ 2,016

Other Accrued Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Accrued Liabilities, Current [Abstract]
Accrued lease expense	$ 0	$ 5,409
Deferred revenue	2,558	162
Value added tax payable	4,707	1,779
Other	4,353	2,400
Other Accrued Liabilities, Current	$ 11,618	$ 9,750

Major Customers - Revenues from Customer Exceeding 10% (Detail)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Customer A
Revenue, Major Customer [Line Items]
Percentage of total revenue by customer	26.00%	24.00%
Customer B
Revenue, Major Customer [Line Items]
Percentage of total revenue by customer	15.00%	18.00%

Employment Agreements (Details)	12 Months Ended
Employment Agreements (Details)	Dec. 31, 2019
Compensation Plan [Line Items]
Expiration date of employment agreements with certain members of executive management team	Dec. 31, 2022

Condensed Consolidating Financial Statements of Guarantors (Details) - USD ($)
$ in Thousands

Dec. 31, 2019

Jan. 01, 2019

Dec. 31, 2018

Accounts Receivable, after Allowance for Credit Loss, Current

$ 121,490

$ 224,936

66,995

54,924

20,510

19,768

208,995

299,628

2,342,763

2,434,829

52,136

35,915

22,525

23,492

$ 24,700

5,586

7,655

2,668,887

2,764,637

30,093

26,826

16,950

15,910

Current portion of long-term debt, including deferred net gain of $31,718 and $0, net of original issue discount of $3,084 and $2,725 and deferred financing costs of $10,292 and $611, respectively

11,980

12,445

1,263,890

^[1]

96,311

2,953

11,618

9,750

Long-term debt, including deferred net gain of $0 and $15,845, and net of original issue discount of $0 and $3,013 and deferred financing costs of $0 and $6,149, respectively

1,337,484

161,242

1,123,625

132,526

169,122

24,219

2,213

2,722

1,496,442

1,456,711

381

377

766,779

761,834

Accumulated Other Comprehensive Income (Loss), Net of Tax

408,789

549,475

(3,504)

(3,760)

Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest

1,172,445

1,307,926

Consolidation, Eliminations [Member]

2,668,887

2,764,637

Condensed Balance Sheet Statements, Captions [Line Items]

Accounts Receivable, after Allowance for Credit Loss, Current

(181)

(181)

(2,079,148)

(3,317,745)

(498,452)

(699,325)

(2,577,781)

(4,017,070)

Current portion of long-term debt, including deferred net gain of $31,718 and $0, net of original issue discount of $3,084 and $2,725 and deferred financing costs of $10,292 and $611, respectively

(181)

Long-term debt, including deferred net gain of $0 and $15,845, and net of original issue discount of $0 and $3,013 and deferred financing costs of $0 and $6,149, respectively

(181)

(2,079,121)

(3,317,741)

(27)

(2,079,329)

(3,317,741)

(46,581)

(46,580)

Accumulated Other Comprehensive Income (Loss), Net of Tax

(451,871)

(652,749)

Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest

(498,452)

(699,329)

Condensed Balance Sheet Statements, Captions [Line Items]

(2,577,781)

(4,017,070)

Parent Company [Member]

Accounts Receivable, after Allowance for Credit Loss, Current

1,970,503

1,920,557

498,452

699,325

2,468,960

2,619,913

577

16,950

15,910

Current portion of long-term debt, including deferred net gain of $31,718 and $0, net of original issue discount of $3,084 and $2,725 and deferred financing costs of $10,292 and $611, respectively

1,263,890

96,311

Long-term debt, including deferred net gain of $0 and $15,845, and net of original issue discount of $0 and $3,013 and deferred financing costs of $0 and $6,149, respectively

1,281,417

112,221

1,123,625

15,098

76,141

1,296,515

1,311,987

381

377

766,779

761,834

Accumulated Other Comprehensive Income (Loss), Net of Tax

408,789

549,475

(3,504)

(3,760)

Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest

1,172,445

1,307,926

Guarantor Subsidiaries [Member]

2,468,960

2,619,913

Condensed Balance Sheet Statements, Captions [Line Items]

Accounts Receivable, after Allowance for Credit Loss, Current

119,924

219,217

66,095

42,136

20,482

18,740

206,501

280,093

2,066,350

2,193,797

52,136

24,613

19,721

8,602

914,060

23,286

5,561

7,118

2,387,049

3,414,789

27,584

25,345

Current portion of long-term debt, including deferred net gain of $31,718 and $0, net of original issue discount of $3,084 and $2,725 and deferred financing costs of $10,292 and $611, respectively

10,614

11,520

2,814

6,212

7,491

Long-term debt, including deferred net gain of $0 and $15,845, and net of original issue discount of $0 and $3,013 and deferred financing costs of $0 and $6,149, respectively

47,224

44,356

132,526

167,756

24,152

1,650,223

2,452,258

2,240

2,720

1,856,365

2,667,090

46,573

37,978

Accumulated Other Comprehensive Income (Loss), Net of Tax

484,111

709,721

Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest

530,684

747,699

Non-Guarantor Subsidiaries [Member]

2,387,049

3,414,789

Condensed Balance Sheet Statements, Captions [Line Items]

Accounts Receivable, after Allowance for Credit Loss, Current

1,561

5,718

1,081

12,788

998

2,670

19,504

276,413

241,032

11,302

2,804

100,043

483,128

206

537

390,659

747,005

1,932

1,481

Current portion of long-term debt, including deferred net gain of $31,718 and $0, net of original issue discount of $3,084 and $2,725 and deferred financing costs of $10,292 and $611, respectively

1,366

925

139

5,587

2,259

Long-term debt, including deferred net gain of $0 and $15,845, and net of original issue discount of $0 and $3,013 and deferred financing costs of $0 and $6,149, respectively

9,024

4,665

1,366

413,800

789,342

422,891

795,375

8,602

Accumulated Other Comprehensive Income (Loss), Net of Tax

(32,240)

(56,972)

Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest

(32,232)

(48,370)

$ 390,659

$ 747,005

[1]	On March 2, 2020, the Company did not make the interest payment on the 2021 senior notes that was due on such date. As a result of this and cross-default language in its remaining debt obligations, the Company has determined that all of its debt should be presented as current.

Condensed Consolidating Financial Statements of Guarantors Condensed Consolidating Statement of Operations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Condensed Income Statements, Captions [Line Items]
Revenues	$ 225,662	$ 212,404
Operating Costs and Expenses	164,630	147,642
Depreciation	98,339	98,927
Amortization of Deferred Charges	15,974	9,741
General and Administrative Expense	53,880	43,530
Costs and Expenses	332,823	299,840
Gain on sale of assets	62	59
Operating Income (Loss)	(107,099)	(87,377)
Loss on early extinguishment of debt, net	(71)	0
Investment Income, Interest	4,488	2,228
Interest Expense	(83,380)	(63,566)
EquityinEarningsofConsolidatedSubsidiaries	0	0
Other Nonoperating Income (Expense)	10,255	(29)
Nonoperating Income (Expense)	(68,708)	(61,367)
Income (Loss) before Income Taxes	(175,807)	(148,744)
Income Tax Expense (benefit)	(36,993)	(29,621)
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	(138,814)	(119,123)
Consolidation, Eliminations [Member]
Condensed Income Statements, Captions [Line Items]
Revenues	(1,347)	(873)
Operating Costs and Expenses	(1,347)	(831)
Depreciation	0	0
Amortization of Deferred Charges	0	0
General and Administrative Expense	0	(42)
Costs and Expenses	(1,347)	(873)
Gain on sale of assets	0	0
Operating Income (Loss)	0	0
Loss on early extinguishment of debt, net	0
Investment Income, Interest	0	0
Interest Expense	0	0
EquityinEarningsofConsolidatedSubsidiaries	51,571	55,339
Other Nonoperating Income (Expense)	0	0
Nonoperating Income (Expense)	51,571	55,339
Income (Loss) before Income Taxes	51,571	55,339
Income Tax Expense (benefit)	0	0
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	51,571	55,339
Parent Company [Member]
Condensed Income Statements, Captions [Line Items]
Revenues	0	0
Operating Costs and Expenses	0	0
Depreciation	0	0
Amortization of Deferred Charges	0	0
General and Administrative Expense	3,792	218
Costs and Expenses	3,792	218
Gain on sale of assets	0	0
Operating Income (Loss)	(3,792)	(218)
Loss on early extinguishment of debt, net	(71)
Investment Income, Interest	0	0
Interest Expense	(83,380)	(63,566)
EquityinEarningsofConsolidatedSubsidiaries	(51,571)	(55,339)
Other Nonoperating Income (Expense)	0	0
Nonoperating Income (Expense)	(135,022)	(118,905)
Income (Loss) before Income Taxes	(138,814)	(119,123)
Income Tax Expense (benefit)	0	0
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	(138,814)	(119,123)
Guarantor Subsidiaries [Member]
Condensed Income Statements, Captions [Line Items]
Revenues	212,098	201,684
Operating Costs and Expenses	164,450	129,110
Depreciation	86,309	91,376
Amortization of Deferred Charges	12,047	8,354
General and Administrative Expense	49,816	40,931
Costs and Expenses	312,622	269,771
Gain on sale of assets	62	52
Operating Income (Loss)	(100,462)	(68,035)
Loss on early extinguishment of debt, net	0
Investment Income, Interest	4,469	1,974
Interest Expense	0	0
EquityinEarningsofConsolidatedSubsidiaries	0	0
Other Nonoperating Income (Expense)	11,297	3
Nonoperating Income (Expense)	15,766	1,977
Income (Loss) before Income Taxes	(84,696)	(66,058)
Income Tax Expense (benefit)	(37,275)	(30,263)
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	(47,421)	(35,795)
Non-Guarantor Subsidiaries [Member]
Condensed Income Statements, Captions [Line Items]
Revenues	14,911	11,593
Operating Costs and Expenses	1,527	19,363
Depreciation	12,030	7,551
Amortization of Deferred Charges	3,927	1,387
General and Administrative Expense	272	2,423
Costs and Expenses	17,756	30,724
Gain on sale of assets	0	7
Operating Income (Loss)	(2,845)	(19,124)
Loss on early extinguishment of debt, net	0
Investment Income, Interest	19	254
Interest Expense	0	0
EquityinEarningsofConsolidatedSubsidiaries	0	0
Other Nonoperating Income (Expense)	(1,042)	(32)
Nonoperating Income (Expense)	(1,023)	222
Income (Loss) before Income Taxes	(3,868)	(18,902)
Income Tax Expense (benefit)	282	642
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	$ (4,150)	$ (19,544)

Condensed Consolidating Financial Statements of Guarantors Condensed Statement of Comprehensive Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Condensed Statement of Comprehensive Income Captions [Line Items]
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	$ (138,814)	$ (119,123)
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment	(1,616)	(12,437)
Comprehensive Income (Loss), Net of Tax, Attributable to Parent	(140,430)	(131,560)
Consolidation, Eliminations [Member]
Condensed Statement of Comprehensive Income Captions [Line Items]
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	51,571	55,339
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment	0	0
Comprehensive Income (Loss), Net of Tax, Attributable to Parent	51,571	55,339
Parent Company [Member]
Condensed Statement of Comprehensive Income Captions [Line Items]
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	(138,814)	(119,123)
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment	(1,616)	(12,437)
Comprehensive Income (Loss), Net of Tax, Attributable to Parent	(140,430)	(131,560)
Guarantor Subsidiaries [Member]
Condensed Statement of Comprehensive Income Captions [Line Items]
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	(47,421)	(35,795)
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment	0	0
Comprehensive Income (Loss), Net of Tax, Attributable to Parent	(47,421)	(35,795)
Non-Guarantor Subsidiaries [Member]
Condensed Statement of Comprehensive Income Captions [Line Items]
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	(4,150)	(19,544)
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment	0	0
Comprehensive Income (Loss), Net of Tax, Attributable to Parent	$ (4,150)	$ (19,544)

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

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