Business Segments (Tables)

12 Months Ended

Dec. 31, 2023

Segment Reporting [Abstract]

Schedule of Segment Reporting

The following tables presents selected financial data by business segment:

	Years ended December 31,
	2023			2022			2021
	(In thousands)
Revenue
Subsea products	$	198,321		$	194,252		$	168,363
Subsea services		101,264			94,186			85,875
Well construction		124,475			73,486			68,210
Total revenue	$	424,060		$	361,924		$	322,448
Depreciation and amortization
Subsea products		6,694			7,691			7,168
Subsea services		10,259			10,876			12,138
Well construction		10,511			6,374			6,541
Corporate (1)		2,860			4,480			4,534
Total depreciation and amortization	$	30,324		$	29,421		$	30,381
Operating income (loss)
Subsea products		8,522			8,917			(21,863	)
Subsea services		18,411			8,374			(22,370	)
Well construction		10,848			14,268			(14,577	)
Corporate (1)		(32,501	)		(31,105	)		(66,525	)
Total operating income (loss)	$	5,280		$	454		$	(125,335	)

(1) Corporate includes the expenses and assets of the Company’s corporate office functions, legal and other administrative expenses that are managed at a consolidated level.

The following table presents the Company’s assets by geographic region:

	December 31,
	2023			2022
	(In thousands)
Long-lived assets
Western Hemisphere	$	118,181		$	528,035
Eastern Hemisphere		232,584			202,994
Asia-Pacific		51,401			53,922
Canada		79,202			-
Eliminations		(172,904	)		(565,024	)
Total long-lived assets	$	308,464		$	219,927
Assets
Western Hemisphere	$	656,333		$	1,077,232
Eastern Hemisphere		622,755			581,950
Asia-Pacific		190,687			185,285
Canada		111,362			-
Eliminations		(552,956	)		(874,516	)
Total Assets	$	1,028,181		$	969,951