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Forward-Looking StatementsAll statements in this report that express a belief, expectation, or intention areforward-looking statements made pursuant to the safe harbor provisions of the PrivateSecurities Litigation Reform Act of 1995. These forward-looking statements are basedon current information at the time this report was written and expectations thatinvolve a number of risks, uncertainties, and assumptions. Among the factors thatcould cause the actual results to differ materially from those indicated in theforward-looking statements are: industry conditions; prices of crude oil and naturalgas; Oceaneering’s ability to obtain and the timing of new projects; operating risks;changes in government regulations; technological changes; and changes in competitivefactors. Should one or more of these risks or uncertainties materialize, or shouldthe assumptions underlying the forward-looking statements prove incorrect, actualoutcomes could vary materially from those indicated. These and other risks are fullydescribed in Oceaneering’s annual report on Form 10-K for the year endedDecember 31, 2011 and other periodic filings with the Securities and ExchangeCommission.Form 10-KThe entire Form 10-K, as filed with the Securities and Exchange Commission, maybe accessed through the Oceaneering website, www.oceaneering.com, by selecting"Investor Relations," then "SEC Financial Reports," then selecting the desired report,or may be obtained by writing to:David K. LawrenceSecretaryOceaneering International, Inc.11911 FM 529Houston, TX 77041-3000The use in this report of such terms as Oceaneering, company, group, organization, we, us, our,and its, or references to specific entities, is not intended to be a precise description of corporaterelationships.60 Oceaneering International, Inc.
General InformationCorporate OfficeOceaneering International, Inc.11911 FM 529Houston, TX 77041-3000Telephone: (713) 329-4500Fax: (713) 329-4951www.oceaneering.comStock Symbol: OIIStock traded on NYSECUSIP Number: 675232102Please direct communications concerningstock transfer requirements or lostcertificates to our transfer agent.Transfer Agent and RegistrarComputershare Trust Company, N.A.P.O. Box 43078Providence, RI 02940-3078Overnight Deliveries:250 Royall StreetCanton, MA 02021-1011OII Account Informationwww.computershare.comTelephone: (781) 575-2879Hearing Impaired/TDD: (800) 952-9245Annual Shareholders’ MeetingDate: May 4, 2012Time: 8:30 a.m. CDTLocation: Oceaneering International, Inc.11911 FM 529Houston, TX 77041Independent Public AccountantsErnst & Young LLP5 Houston Center1401 McKinney, Suite 1200Houston, TX 77010-4035CounselBaker Botts L.L.P.One Shell Plaza910 Louisiana StreetHouston, TX 77002-4995
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Financial Highlights($ in thousands
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In December we secured a three-year
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2011 Financial SectionOceaneering I
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Oceaneering Common StockOur common
Page 12 and 13: Management's Discussion and Analysi
Page 14 and 15: Critical Accounting Policies and Es
Page 16 and 17: We establish valuation allowances t
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%
Page 24 and 25: Controls and ProceduresDisclosure C
Page 26 and 27: In our opinion, Oceaneering Interna
Page 28 and 29: OCEANEERING INTERNATIONAL, INC. AND
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
Page 40 and 41: elationship and, if it is, the type
Page 42 and 43: December 31,(in thousands) 2011 201
Page 44 and 45: in entities or jurisdictions that h
Page 46 and 47: 4. SELECTED BALANCE SHEET AND INCOM
Page 48 and 49: On January 6, 2012, we entered into
Page 50 and 51: Financial Instruments and Risk Conc
Page 52 and 53: The table that follows presents Rev
Page 54 and 55: The following table presents Assets
Page 56 and 57: Geographic Operating AreasThe follo
Page 58 and 59: equirements. The Compensation Commi
Page 60 and 61: in 2011, 2010 and 2009 were subject
Page 64: Oceaneering International, Inc.1191
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