The table that follows presents Revenue, Income from Operations, Depreciation andAmortization Expense and Equity Earnings of Unconsolidated Affiliates by businesssegment:Year Ended December 31,(in thousands) 2011 2010 2009RevenueOil and GasRemotely Operated Vehicles $ 755,033 $ 662,105 $ 649,228Subsea Products 770,212 549,233 487,726Subsea Projects 167,477 247,538 274,607Asset Integrity 266,577 223,469 216,140Total Oil and Gas 1,959,299 1,682,345 1,627,701Advanced Technologies 233,364 234,700 194,380Total $ 2,192,663 $ 1,917,045 $ 1,822,081Income from OperationsOil and GasRemotely Operated Vehicles $ 224,705 $ 211,725 $ 207,683Subsea Products 142,184 108,522 60,526Subsea Projects 32,662 46,910 75,404Asset Integrity 30,560 25,893 26,443Total Oil and Gas 430,111 393,050 370,056Advanced Technologies 16,661 16,934 12,366Unallocated Expenses (111,941) (100,484) (90,306)Total $ 334,831 $ 309,500 $ 292,116Depreciation and Amortization ExpenseOil and GasRemotely Operated Vehicles $ 100,089 $ 86,232 $ 68,022Subsea Products 31,299 27,956 24,133Subsea Projects 8,024 25,826 19,011Asset Integrity 5,689 4,098 3,794Total Oil and Gas 145,101 144,112 114,960Advanced Technologies 3,134 4,588 2,526Unallocated Expenses 2,992 4,951 5,459Total $ 151,227 $ 153,651 $ 122,945Equity Earnings of Unconsolidated AffiliatesSubsea Projects $ 3,937 $ 2,078 $ 3,242Subsea Products (136) — —Total $ 3,801 $ 2,078 $ 3,24250 <strong>Oceaneering</strong> International, Inc.
We determine income from operations <strong>for</strong> each business segment be<strong>for</strong>e interest incomeor expense, other income (expense) and provision <strong>for</strong> income taxes. We do not consideran allocation of these items to be practical.During 2011, we sold the Ocean Legend, a <strong>mobile</strong> offshore production system. The saleresulted in a gain of $19.6 million, which we recognized as a reduction of the costs ofservices and products in our Subsea Projects segment.Depreciation and amortization expense <strong>for</strong> Subsea Projects in 2010 includes animpairment charge of $5.2 million in the first quarter to reduce the carrying value of ourvessel held <strong>for</strong> sale, The Per<strong>for</strong>mer, to its fair value, less estimated costs to sell. In thethird quarter of 2010, we sold the vessel <strong>for</strong> approximately its reduced carrying value.During 2010, revenue from one customer, BP plc and subsidiaries in our oil and gasbusiness segments, accounted <strong>for</strong> 12% of our total consolidated revenue. No individualcustomer accounted <strong>for</strong> more than 10% of our consolidated revenue during 2011 or2009.2011 Annual Report 51
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- Page 10 and 11: Oceaneering Common StockOur common
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- Page 18 and 19: In 2009, we used $162 million in in
- Page 20 and 21: For 2011, our ROV revenue and opera
- Page 22 and 23: We earn equity income from our 50%
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- Page 34 and 35: for marine services equipment (such
- Page 36 and 37: segment and its Australian assets a
- Page 38 and 39: Revenue in Excess of Amounts Billed
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- Page 42 and 43: December 31,(in thousands) 2011 201
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- Page 48 and 49: On January 6, 2012, we entered into
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