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HLX » Topics » Note 24 - Condensed Consolidated Guarantor and Non-Guarantor Financial Information

These excerpts taken from the HLX 10-K filed Feb 29, 2008.
Note 24 — Condensed Consolidated Guarantor and Non-Guarantor Financial Information
 
The payment of obligations under the Senior Unsecured Notes is guaranteed by all of our restricted domestic subsidiaries (“Subsidiary Guarantors”) except for Cal Dive and Cal Dive I-Title XI, Inc. Each of these Subsidiary Guarantors is included in our consolidated financial statements and has fully and unconditionally guaranteed the Senior Unsecured Notes on a joint and several basis. As a result of these guarantee arrangements, we are required to present the following condensed consolidating financial information. The accompanying guarantor financial information is presented on the equity method of accounting for all periods presented. Under this method, investments in subsidiaries are recorded at cost and adjusted for our share in the subsidiaries’ cumulative results of operations, capital contributions and distributions and other changes in equity. Elimination entries relate primarily to the elimination of investments in subsidiaries and associated intercompany balances and transactions.


133

Table of Contents

HELIX ENERGY SOLUTIONS GROUP, INC.
 
Note 24 —
Condensed Consolidated Guarantor and Non-Guarantor Financial
Information


 



The payment of obligations under the Senior Unsecured Notes is
guaranteed by all of our restricted domestic subsidiaries
(“Subsidiary Guarantors”) except for Cal Dive and
Cal Dive
I-Title XI,
Inc. Each of these Subsidiary Guarantors is included in our
consolidated financial statements and has fully and
unconditionally guaranteed the Senior Unsecured Notes on a joint
and several basis. As a result of these guarantee arrangements,
we are required to present the following condensed consolidating
financial information. The accompanying guarantor financial
information is presented on the equity method of accounting for
all periods presented. Under this method, investments in
subsidiaries are recorded at cost and adjusted for our share in
the subsidiaries’ cumulative results of operations, capital
contributions and distributions and other changes in equity.
Elimination entries relate primarily to the elimination of
investments in subsidiaries and associated intercompany balances
and transactions.





133




Table of Contents







HELIX
ENERGY SOLUTIONS GROUP, INC.




 




EXCERPTS ON THIS PAGE:

10-K (2 sections)
Feb 29, 2008

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