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10-Q
SUPERIOR ENERGY SERVICES INC filed this Form 10-Q on 10/26/2016
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Revenues

 

 

 



 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,



 

2016

 

2015

 

2016

 

2015

United States

 

$

243,586 

 

$

470,154 

 

$

808,546 

 

$

1,771,934 

Other Countries

 

 

82,639 

 

 

131,242 

 

 

287,083 

 

 

457,481 

Total

 

$

326,225 

 

$

601,396 

 

$

1,095,629 

 

$

2,229,415 



 

 

 

 

 

 

 

 

 

 

 

 

Long-Lived Assets

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

September 30, 2016

 

December 31, 2015

United States

 

 

 

 

 

 

 

$

1,410,751 

 

$

1,799,418 

Other Countries

 

 

 

 

 

 

 

 

342,962 

 

 

323,873 

Total, net

 

 

 

 

 

 

 

$

1,753,713 

 

$

2,123,291 



 

 

 

 

 

 

 

 

 

 

 

 























(10)Stock-Based Compensation Plans



The Company maintains various stock incentive plans that provide long-term incentives to the Company’s key employees, including officers, directors, consultants and advisors (Eligible Participants).  Under the stock incentive plans, the Company may grant incentive stock options, non-qualified stock options, restricted stock, restricted stock units, stock appreciation rights, other stock-based awards or any combination thereof to Eligible Participants.  The Company’s total compensation expense related to these plans was approximately $32.4 million and $34.0 million for the nine months ended September 30, 2016 and 2015, respectively, which is reflected in general and administrative expenses.



(11)  Income Taxes



The Company had $29.7 million of unrecorded tax benefits at September 30, 2016 and December 31, 2015, all of which would impact the Company’s effective tax rate if recognized.  It is the Company’s policy to recognize interest and applicable penalties, if any, related to uncertain tax positions in income tax expense.



(12) Earnings per Share



Basic earnings per share is computed by dividing income available to common stockholders by the weighted average number of common shares outstanding during the period.  Diluted earnings per share is computed in the same manner as basic earnings per share except that the denominator is increased to include the number of additional common shares that could have been outstanding assuming the exercise of stock options and the conversion of restricted stock units.



For the three and nine months ended September 30, 2016 and 2015, the Company incurred a loss from continuing operations; therefore the impact of any incremental shares would be anti-dilutive.



(13) Discontinued Operations



During the first quarter of 2016, the Company’s management determined that the conventional decommissioning business no longer met the held for sale criteria.  Accordingly, property, plant and equipment related to the conventional decommissioning business was reclassified back to continuing operations.



At September 30, 2016, the assets of the subsea construction business were being actively marketed and the Company’s management is committed to selling the remaining assets, which were classified as held for sale. 



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