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Brokers’ commission costs are incurred primarily in the company’s international operations where brokers assist in obtaining work for the company’s vessels. Brokers generally are paid a percentage of day rates and, accordingly, commissions paid to brokers generally fluctuate in accordance with vessel revenue. Other costs include, but are not limited to, satellite communication fees, agent fees, port fees, canal transit fees, vessel certification fees and temporary vessel importation fees. 

## Results of Operations 

The following table compares revenues and operating expenses (excluding general and administrative expenses, depreciation expense, provision for Venezuelan operations, and gains on asset dispositions) for the company’s vessel fleet and the related percentage of total revenue for the years ended March 31. Vessel revenues and operating costs relate to vessels owned and operated by the company, while other marine revenues relate to third-party activities of the company's shipyards, brokered vessels and other miscellaneous marine-related activities. 

<img src='content_image/193825.jpg'>

(A) For fiscal 2010, 2009 and 2008, Chevron Corporation (including its worldwide subsidiaries and affiliates) accounted for 18.3%, 19.1% and 16.3%, respectively, of total revenues while Petroleo Brasileiro SA accounted for 13.1%, 10.1% and 10.5% of total revenues, respectively. 

The following table subdivides vessel operating costs presented above by the company’s International and United States segments and its related percentage of total revenue for the fiscal years ended March 31. 

<img src='content_image/193826.jpg'>

