Segment Information

6 Months Ended

Jun. 30, 2023

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				Six months ended
	June 30,				June 30,
		2023		2022		2023		2022
Marine
Contract revenues	$	100,543	$	82,319	$	179,841	$	166,799
Operating income (loss)	$	3,492	$	2,516	$	(2,588)	$	4,356
Depreciation and amortization expense	$	(3,812)	$	(4,236)	$	(7,647)	$	(8,559)
Total assets	$	265,913	$	219,138	$	265,913	$	219,138
Property and equipment, net	$	84,251	$	92,813	$	84,251	$	92,813
Concrete
Contract revenues	$	81,991	$	112,256	$	161,867	$	202,707
Operating loss	$	(1,453)	$	(5,364)	$	(6,016)	$	(10,059)
Depreciation and amortization expense	$	(1,531)	$	(1,862)	$	(3,142)	$	(3,802)
Total assets	$	103,296	$	132,344	$	103,296	$	132,344
Property and equipment, net	$	7,542	$	11,494	$	7,542	$	11,494

There were none and $0.1 million in intersegment revenues between the Company’s two reportable segments for the three months ended June 30, 2023 and 2022, respectively. There were less than $0.1 million and $0.1 million in intersegment revenues between the Company’s two reportable segments for the six months ended June 30, 2023 and 2022, respectively. The marine segment had foreign revenues of $7.3 million and $1.9 million for the three months ended June 30, 2023 and 2022, respectively. The marine segment had foreign revenues of $10.0 million and $2.6 million for the six months ended June 30, 2023 and 2022, respectively. These revenues are derived from projects in the Caribbean Basin and are paid primarily in U.S. dollars. There was no foreign revenue for the concrete segment.