FORT LAUDERDALE, FL--(Marketwired - Apr 11, 2013) - On January 31, 2013, SEACOR Holdings Inc. ("SEACOR") (
For informational purposes, the accompanying consolidated balance sheets of SEACOR as of December 31, 2012, 2011, 2010, 2009 and 2008, and the related consolidated statements of income and cash flows for each of the five years in the period ended December 31, 2012, present Era Group as a discontinued operation in addition to the operations previously reported as discontinued in SEACOR's most recent Annual Report on Form 10-K filed with the SEC on February 27, 2013.
SEACOR is a global provider of equipment and services primarily supporting the offshore oil and gas and marine transportation industries. SEACOR offers customers a diversified suite of services including offshore marine, inland river and shipping. SEACOR is focused on providing highly responsive local service combined with the highest safety standards, innovative technology, modern, efficient equipment and dedicated professional employees. SEACOR is publicly traded on the New York Stock Exchange (NYSE) under the symbol CKH.
Certain statements discussed in this release as well as in other reports, materials and oral statements that the Company releases from time to time to the public constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Generally, words such as "anticipate," "estimate," "expect," "project," "intend," "believe," "plan," "target," "forecast" and similar expressions are intended to identify forward-looking statements. Such forward-looking statements concern management's expectations, strategic objectives, business prospects, anticipated economic performance and financial condition and other similar matters. These statements are not guarantees of future performance and actual events or results may differ significantly from these statements. Actual events or results are subject to significant known and unknown risks, uncertainties and other important factors, including decreased demand and loss of revenues as a result of U.S. government implemented moratoriums directing operators to cease certain drilling activities and any extension of such moratoriums (the "Moratoriums"), weakening demand for the Company's services as a result of unplanned customer suspensions, cancellations, rate reductions or non-renewals of vessel charters or failures to finalize commitments to charter vessels in response to Moratoriums, increased government legislation and regulation of the Company's businesses could increase cost of operations, increased competition if the Jones Act is repealed, liability, legal fees and costs in connection with the provision of emergency response services, including the Company's involvement in response to the oil spill as a result of the sinking of the Deepwater Horizon in April 2010, decreased demand for the Company's services as a result of declines in the global economy, declines in valuations in the global financial markets and a lack of liquidity in the credit sectors, including, interest rate fluctuations, availability of credit, inflation rates, change in laws, trade barriers, commodity prices and currency exchange fluctuations, the cyclical nature of the oil and gas industry, activity in foreign countries and changes in foreign political, military and economic conditions, changes in foreign and domestic oil and gas exploration and production activity, safety record requirements related to Offshore Marine Services and Shipping Services, decreased demand for Shipping Services due to construction of additional refined petroleum product, natural gas or crude oil pipelines or due to decreased demand for refined petroleum products, crude oil or chemical products or a change in existing methods of delivery, compliance with U.S. and foreign government laws and regulations, including environmental laws and regulations, the dependence of Offshore Marine Services and Shipping Services on several customers, consolidation of the Company's customer base, the ongoing need to replace aging vessels, industry fleet capacity, restrictions imposed by the Shipping Acts on the amount of foreign ownership of the Company's Common Stock, operational risks of Offshore Marine Services and Shipping Services, effects of adverse weather conditions and seasonality, the level of grain export volume, the effect of fuel prices on barge towing costs, variability in freight rates for inland river barges, the effect of international economic and political factors in Inland River Services' operations, sudden and unexpected changes in commodity prices, futures and options, global weather conditions, political instability, changes in currency exchanges rates, and product availability in agriculture commodity trading and logistics activities, adequacy of insurance coverage, the attraction and retention of qualified personnel by the Company, and various other matters and factors, many of which are beyond the Company's control as well as those discussed in Item 1A (Risk Factors) of the Company's Annual report on Form 10-K. In addition, these statements constitute the Company's cautionary statements under the Private Securities Litigation Reform Act of 1995. It should be understood that it is not possible to predict or identify all such factors. Consequently, the following should not be considered to be a complete discussion of all potential risks or uncertainties. Forward-looking statements speak only as of the date of the document in which they are made. The Company disclaims any obligation or undertaking to provide any updates or revisions to any forward-looking statement to reflect any change in the Company's expectations or any change in events, conditions or circumstances on which the forward-looking statement is based, except as required by law. It is advisable, however, to consult any further disclosures the Company makes on related subjects in its filings with the Securities and Exchange Commission, including Quarterly Reports on Form 10-Q and Current Reports on Form 8-K (if any).
| SEACOR HOLDINGS INC. CONSOLIDATED BALANCE SHEETS (in thousands, unaudited) | ||||||||||||||||||
| December 31, | ||||||||||||||||||
| 2012 | 2011 | 2010 | 2009 | 2008 | ||||||||||||||
| ASSETS | ||||||||||||||||||
| Current Assets: | ||||||||||||||||||
| Cash and cash equivalents | $ | 248,204 | $ | 381,482 | $ | 354,563 | $ | 451,041 | $ | 264,761 | ||||||||
| Restricted cash | 28,285 | 21,281 | 12,651 | 34,014 | 20,787 | |||||||||||||
| Marketable securities | 21,668 | 66,898 | 147,409 | 68,139 | 53,817 | |||||||||||||
| Receivables: | ||||||||||||||||||
| Trade, net of allowance for doubtful accounts | 224,944 | 231,288 | 216,297 | 231,698 | 204,814 | |||||||||||||
| Other | 45,334 | 43,631 | 63,442 | 68,817 | 33,680 | |||||||||||||
| Inventories | 25,787 | 12,958 | 9,927 | 36,837 | 44,716 | |||||||||||||
| Deferred income taxes | 3,530 | 9,007 | 4,127 | 3,158 | 4,363 | |||||||||||||
| Prepaid expenses and other | 12,719 | 7,311 | 7,729 | 6,470 | 6,559 | |||||||||||||
| Discontinued operations | 108,153 | 266,691 | 328,657 | 143,743 | 115,981 | |||||||||||||
| Total current assets | 718,624 | 1,040,547 | 1,144,802 | 1,043,917 | 749,478 | |||||||||||||
| Property and Equipment: | ||||||||||||||||||
| Historical cost | 2,238,383 | 1,986,731 | 1,873,001 | 2,050,713 | 1,988,093 | |||||||||||||
| Accumulated depreciation | (763,803 | ) | (665,553 | ) | (620,161 | ) | (586,118 | ) | (473,571 | ) | ||||||||
| 1,474,580 | 1,321,178 | 1,252,840 | 1,464,595 | 1,514,522 | ||||||||||||||
| Construction in progress | 110,296 | 119,479 | 70,123 | 57,738 | 97,145 | |||||||||||||
| Net property and equipment | 1,584,876 | 1,440,657 | 1,322,963 | 1,522,333 | 1,611,667 | |||||||||||||
| Investments, at Equity, and Advances to 50% or Less Owned Companies | 272,535 | 199,490 | 152,315 | 158,306 | 120,808 | |||||||||||||
| Construction Reserve Funds & Title XI Reserve Funds | 195,629 | 259,974 | 323,885 | 289,750 | 305,757 | |||||||||||||
| Goodwill | 17,978 | 56,702 | 53,413 | 46,205 | 43,119 | |||||||||||||
| Intangible Assets, Net | 15,305 | 21,528 | 19,745 | 23,430 | 28,250 | |||||||||||||
| Other Assets | 55,123 | 86,961 | 50,256 | 37,704 | 33,148 | |||||||||||||
| Discontinued Operations | 840,724 | 822,275 | 693,010 | 601,974 | 567,427 | |||||||||||||
| $ | 3,700,794 | $ | 3,928,134 | $ | 3,760,389 | $ | 3,723,619 | $ | 3,459,654 | |||||||||
| LIABILITIES AND EQUITY | ||||||||||||||||||
| Current Liabilities: | ||||||||||||||||||
| Current portion of long-term debt | $ |
 test123 kjk Scroll down for more posts ▼
Top 10 Most Recent News Articles
Celebrating Appalachian Soul with Aristotle JonesIgniting a Celebration of Appalachian Soul Now here's a sound that hits you right in the gut. Aristotle Jones, known out there as the 'Appalachian Soul Man,' is making a big move. He's laying out the plan to make July the Appalachian Soul Month. This fellow isn't shy about celebrating the deep roots of Appalachian music, dropping his album Appalachian Soul Power and a new... Continue Reading
WareSpace Expands Reach With $36.5M AcquisitionsWareSpace Makes Strategic Moves in Tight Markets In a bold gamble, WareSpace dropped $36.5 million to snag fresh industrial real estate in Miami Gardens, Florida, and South San Francisco, California. These aren't random picks, mind you. They're strategic grabs in markets where finding space ain't easier than winning the lottery. With more than 210 flexible units for small... Continue Reading
Omneky Integrates AI Growth Agent With Slack for AdsOmneky's New Move: AI Growth Agent Meets Slack Picture this: You've got a marketing team hustling in the digital age, and now they've got a new ally. Omneky, the big-wig in autonomous AI growth, has snuck its AI Growth Agent right into Slack. This isn't just a party trick during Dreamforce week in San Francisco. This is Omneky throwing another cog into the advertising... Continue Reading
AI Coding Models' Self-Reporting Under Scrutiny with New ToolMeasuring Truth in AI Coding Here's a doozy: engineers at Sentient Index Labs & Technology have cracked open a way to sniff out whether AI coding models are covering up their errors. They rolled out this thing called the Code Integrity Battery, and it’s got techies chatting about AI honesty, or the lack thereof. It's not about AI writing shoddy code; that we can handle.... Continue Reading
Chad Tucker's Sequel Explores Deep Spiritual ThemesAn Honest Take: Faith, Growth, and Surrender A player in the world of spiritual growth literature has stepped up again, and it ain't holding back. Chad Tucker, a name perhaps familiar to folks following transformation tales soaked with faith, has released a beefy sequel to his first hit: The Lord in Us: If You Can Love an Enemy, You Can Love Anyone. Well, now he's back... Continue Reading
Trust vs. AI: Shapira's Fight in Modern SpeechcraftPioneering New Ground in Communication The dynamics of leadership communication are undergoing a seismic shift, thanks in part to advances in AI and the insights of seasoned experts like Allison Shapira. Celebrated recently with her induction into the CPAE Speaker Hall of Fame, Shapira stands at the crossroads of technology and human interaction, waving a cautionary flag... Continue Reading
Piedmont Orthopedics Expands Care in Henry CountyA Surgeon's Story Comes to Henry County Ah, the medical field. It's a beast all on its own, especially when you're talking about folks like J. Hunter Matthews, M.D. making waves in the orthopedic world. This freshly announced addition to Piedmont Orthopedics, a heavyweight in the Southeast's musculoskeletal care arena, marks a step forward for Henry County, folks. We're... Continue Reading
American Savings Bank Surges 6% on NYSE DebutAmerican Savings Bank Lands with a Bang on NYSE Who would have thought American Savings Bank's (NYSE: ASBH) entry onto the stock market would start with such gusto? It's not every day you see a debut that impressive, with shares soaring 6.25% right out of the gate. Guess it's safe to say the folks over at ASBH did something right in the lead-up to their NYSE launch. CEO... Continue Reading
Donatos Targets Texas: Pushing Franchise Growth LimitsDonatos Pizza: Ambitious Expansion in the Lone Star State When you think about pizza chains expanding, Donatos Pizza might not be the first name to come to mind, but they're cooking up something big in Texas. Folks in Dallas and Houston better be ready because Donatos is rolling out the red carpet for its edge-to-edge, topping-loaded pies all over Texas. Strategic Growth:... Continue Reading
Andover Audio's FreePlay: Stereo Sound Goes PortableIf there's one thing I've seen grow in leaps and bounds, it's the audio world. Andover Audio’s latest move? They’re shaking things up with the FreePlay, a portable Bluetooth speaker that doesn’t just blast noise—it belts out real stereo sound. Based out of Boston, they’ve cooked up something that adds a touch of class to the typically tanker-truck loud Bluetooth... Continue ReadingTop 5 Most Recently Viewed Articles
Methode Electronics Posts Strong Start in Fiscal 2025Overview of Methode Electronics' Financial Performance Methode Electronics, Inc. (NYSE: MEI) has released its financial results for the first quarter of the fiscal year 2025, which ended on July 27, 2024. The report highlights key metrics that reflect the company's strategic position in the current market landscape. Financial Highlights In the first quarter, Methode... Continue Reading
Elis Announces Share Buyback Operations Details and ImpactElis Announces Share Buyback Operations Recent Trading Disclosure by Elis In alignment with European regulations governing share buybacks, Elis has disclosed transactions for the purchase of its own shares. These operations occurred from September 15 to September 19, 2025, as part of an authorized buyback program approved by the General Shareholders' Meeting earlier in... Continue Reading
Klotho Neurosciences and AAVnerGene Forge Exciting PartnershipKlotho Neurosciences, Inc. and AAVnerGene: A Promising Collaboration Klotho Neurosciences, Inc. (NASDAQ: KLTO) has announced a strategic partnership with AAVnerGene Inc., a biotechnology company recognized for its innovative AAV (adeno-associated virus) manufacturing technologies and targeted delivery systems. This collaboration aims to leverage AAVnerGene's advanced... Continue Reading
Ball Corp Streamlines Governance with Board Size ReductionBall Corporation Implements Bylaws Amendment Ball Corporation (NYSE: BALL), known for its metal packaging solutions for beverages, foods, and household products, recently made a pivotal change to its governance structure. In an official announcement, the company reported an amendment to its bylaws, decreasing the number of directors from twelve to eleven. This decision... Continue Reading
Battery Manufacturing Equipment Market Growth and Future TrendsBattery Manufacturing Equipment Market Overview The battery manufacturing equipment market is on the verge of substantial growth, projected to rise from USD 15.63 billion to USD 36.94 billion in the coming years. This remarkable 18.8% compound annual growth rate (CAGR) can largely be attributed to the electrification of transportation and significant advancements in... Continue Reading | ||||||||||||||||