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ANNUAL REPORT
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35
•
Subsea Robotics—Our Subsea Robotics segment provides the following:
◦
ROVs for drill support and vessel-based services, including subsea hardware installation, construction,
pipeline inspection, survey and facilities inspection, maintenance and repair;
◦
ROV tooling; and
◦
survey services, including hydrographic survey and positioning services and autonomous underwater
vehicles for geoscience.
•
Manufactured Products—Our Manufactured Products segment provides the following:
◦
distribution and connection systems including production control umbilicals and field development
hardware, pipeline connection and repair systems, and subsea and topside control valves primarily to
the energy industry; and
◦
autonomous mobile robotic technology and entertainment systems to a variety of industries.
•
Offshore Projects Group—Our OPG segment provides the following:
◦
subsea installation and intervention, including riserless light well intervention services, inspection,
maintenance and repair (“IMR”) services, principally in the U.S. Gulf of Mexico and offshore Angola,
utilizing owned and charter vessels;
◦
installation and workover control systems and ROV workover control systems;
◦
diving services;
◦
project management and engineering; and
◦
drill pipe riser services and systems and wellhead load relief solutions.
•
Integrity Management & Digital Solutions—Our Integrity Management & Digital Solutions (“IMDS”)
segment provides the following:
◦
asset integrity management services;
◦
software and analytical solutions for the bulk cargo maritime industry; and
◦
software, digital and connectivity solutions for the energy industry.
Our Aerospace and Defense Technologies segment provides services and products, including engineering and
related manufacturing in defense and space exploration activities, principally to U.S. Government agencies and their
prime contractors.
Unallocated Expenses are those not associated with a specific business segment. These consist of expenses
related to our incentive and deferred compensation plans, including restricted stock units, performance units and
bonuses, as well as other general expenses, including corporate administrative expenses.
Our CODM is our chief executive officer. Our CODM analyzes each segment’s performance using revenue and
operating income (loss). Operating income (loss) includes certain regional shared services cost allocations directly
attributable to each segment. Intersegment revenue and expenses have been eliminated in the reported revenue
and operating income (loss). We determine operating income (loss) for each business segment before interest
income or expense, equity in income (losses) of unconsolidated affiliates, other income (expense) and provision for
income taxes.
Our CODM uses both revenue and operating income (loss) for each segment in the annual budgeting and
forecasting processes. The CODM considers budget-to-actual and forecast-to-actual variances on a quarterly basis
when making decisions about the allocation of operating and capital resources to each segment.
10. OPERATIONS BY BUSINESS SEGMENT AND GEOGRAPHIC AREA
Business Segment Information
We are a global technology company delivering engineered services and products and robotic solutions to the
offshore energy, defense, aerospace, manufacturing and entertainment industries.
Our Energy business leverages our asset base and capabilities for providing services and products for offshore
energy operations, inclusive of the offshore renewables energy market. Our Energy segments are:
80
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