Cobalt International Energy, Inc.
Notes to Consolidated Financial Statements (Continued)
18. Segment Information (Continued)
tables provide the geographic operating segment information for years ended December 31, 2014, 2013
and 2012:
United States West Africa
Total
($ in thousands)
Year ended December 31, 2014
Operating costs and expense . . . . . . . . . . . . . . . . . . . . . . . . . . .
$ 238,214 $ 203,727 $ 441,941
Operating income (loss) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(238,214) (203,727) (441,941)
Other income (expense) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(68,822)
Net income (loss) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
$(510,763)
Additions to Property and Equipment, net(1) . . . . . . . . . . . . . . .
$ 135,449 $ 320,637 $ 456,086
Year ended December 31, 2013
Operating costs and expense . . . . . . . . . . . . . . . . . . . . . . . . . . .
$ 329,832 $ 202,852 $ 532,684
Operating income (loss) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(329,832) (202,852) (532,684)
Other income (expense) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(56,340)
Net income (loss) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
$(589,024)
Additions to Property and Equipment, net(1) . . . . . . . . . . . . . . .
$ 44,124 $ 332,395 $ 376,519
Year ended December 31, 2012
Operating costs and expense . . . . . . . . . . . . . . . . . . . . . . . . . . .
$ 231,196 $ 53,632 $ 284,828
Operating income (loss) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(231,196)
(53,632) (284,828)
Other income (expense) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1,829
Net income (loss) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
$(282,999)
Additions to Property and Equipment, net(1) . . . . . . . . . . . . . . .
$ 67,068 $ 169,362 $ 236,430
(1) These amounts are net of accumulated allowance for impairment on oil and gas properties and
accumulated depreciation and amortization on other property and equipment.
19. Contingencies
The Company is currently, and from time to time may be, subject to various lawsuits, claims and
proceedings that arise in the normal course of business, including employment, commercial,
environmental, safety and health matters. It is not presently possible to determine whether any such
matters will have a material adverse effect on the Company’s consolidated financial position, results of
operations, or liquidity.
20. Other Matters
As previously disclosed, in November 2011 a formal order of investigation was issued by the SEC
related to our operations in Angola. In August 2014, we received a Wells Notice from the SEC related
to this investigation. In January 2015, we received a termination letter from the SEC advising us that
the SEC’s FCPA investigation has concluded and the Staff does not intend to recommend any
enforcement action by the SEC. This letter formally concluded the SEC’s investigation. We continue to
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