XML 32 R23.htm IDEA: XBRL DOCUMENT v3.23.3
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.