Segment Information

9 Months Ended

Sep. 30, 2022

Segment Reporting [Abstract]

Segment Information

17.Segment Information

The Company currently operates in two reportable segments: marine and concrete. The Company’s financial reporting systems present various data for management to run the business, including profit and loss statements prepared according to the segments presented. Management uses operating income to evaluate performance between the two segments. Segment information for the periods presented is provided as follows:

	Three months ended				Nine months ended
	September 30,				September 30,
		2022		2021		2022		2021
Marine
Contract revenues	$	76,098	$	54,739	$	242,897	$	190,827
Operating income (loss)	$	5,197	$	(4,965)	$	9,553	$	6,489
Depreciation and amortization expense	$	(4,192)	$	(4,232)	$	(12,751)	$	(12,912)
Total assets	$	219,955	$	252,332	$	219,955	$	252,332
Property and equipment, net	$	91,338	$	92,612	$	91,338	$	92,612
Concrete
Contract revenues	$	106,523	$	85,168	$	309,230	$	248,264
Operating loss	$	(4,066)	$	(3,778)	$	(14,125)	$	(7,611)
Depreciation and amortization expense	$	(1,873)	$	(1,993)	$	(5,675)	$	(6,228)
Total assets	$	128,201	$	116,023	$	128,201	$	116,023
Property and equipment, net	$	10,436	$	14,073	$	10,436	$	14,073

There were less than $0.1 million and no intersegment revenues between the Company’s two reportable segments for the three months ended September 30, 2022 and 2021, respectively. There were $0.1 million and less than $0.1 million in intersegment revenues between the Company’s two reportable segments for the nine months ended September 30, 2022 and 2021, respectively. The marine segment had foreign revenues of $2.5 million and less than $0.1 million for the three months ended September 30, 2022 and 2021, respectively. The marine segment had foreign revenues of $5.1 million and $2.8 million for the nine months ended September 30, 2022 and 2021, respectively. These revenues are derived from projects in the Caribbean Basin and Mexico and are paid primarily in U.S. dollars. There was no foreign revenue for the concrete segment.