Segment Information

9 Months Ended

Sep. 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				Nine months ended
	September 30,				September 30,
		2023		2022		2023		2022
Marine
Contract revenues	$	80,913	$	76,098	$	260,754	$	242,897
Operating income (loss)	$	2,001	$	5,197	$	(587)	$	9,553
Depreciation and amortization expense	$	(4,771)	$	(4,192)	$	(12,418)	$	(12,751)
Total assets	$	269,409	$	219,955	$	269,409	$	219,955
Property and equipment, net	$	82,914	$	91,338	$	82,914	$	91,338
Concrete
Contract revenues	$	87,563	$	106,523	$	249,430	$	309,230
Operating income (loss)	$	560	$	(4,066)	$	(5,456)	$	(14,125)
Depreciation and amortization expense	$	(1,322)	$	(1,873)	$	(4,464)	$	(5,675)
Total assets	$	110,813	$	128,201	$	110,813	$	128,201
Property and equipment, net	$	6,671	$	10,436	$	6,671	$	10,436

There were $0.1 million and less than $0.1 million in intersegment revenues between the Company’s two reportable segments for the three months ended September 30, 2023 and 2022, respectively. There were $0.1 million and $0.1 million in intersegment revenues between the Company’s two reportable segments for the nine months ended September 30, 2023 and 2022, respectively. The marine segment had foreign revenues of $4.5 million and $2.5 million for the three months ended September 30, 2023 and 2022, respectively. The marine segment had foreign revenues of $14.5 million and $5.1 million for the nine months ended September 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.