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REVENUE FROM SERVICES
6 Months Ended
Jun. 30, 2019
Revenue From Contract With Customer [Abstract]  
REVENUE FROM SERVICES

NOTE 7.  REVENUE FROM SERVICES

 

Deferred Costs on Contracts

 

In some instances, we incur third party costs that directly relate to the contract to fulfill the contract obligations.  These fulfillment costs are capitalized and amortized consistent with how the related revenue is recognized.  Changes in our deferred costs on contracts are as follows for the six months ended June 30:

 

 

 

2019

 

 

2018

 

 

 

 

 

 

 

(Restated)

 

Balance at beginning of year

 

$

3,746

 

 

$

1,780

 

Fulfillment costs incurred

 

 

5,821

 

 

 

5,039

 

Amortization of fulfillment costs

 

 

(7,717

)

 

 

(6,330

)

Balance at end of period

 

$

1,850

 

 

$

489

 

 

Deferred Revenue

 

Typically, our mobilization services are paid by the customer at the beginning of the contract while the revenue is recognized as control transfers to the customer, which can result in deferred revenue. Normally all other revenue is billed as work progresses, which generally will not result in significant deferred revenue except in those cases where a large mobilization is required for the contract. Changes in our deferred revenue are as follows for the six months ended June 30:

 

 

 

2019

 

 

2018

 

 

 

 

 

 

 

(Restated)

 

Balance at beginning of year

 

$

4,357

 

 

$

1,477

 

Cash received, excluding amounts recognized as revenue from services

 

 

8,181

 

 

 

385

 

Amounts recognized as revenue from services

 

 

(8,098

)

 

 

(1,862

)

Balance at end of period

 

$

4,440

 

 

$

 

 

Disaggregated Revenue

 

The following table disaggregates our revenue by major source:

 

 

 

Three Months Ended

June 30,

 

 

Six Months Ended

June 30,

 

 

 

2019

 

 

2018

 

 

2019

 

 

2018

 

 

 

 

 

 

 

(Restated)

 

 

 

 

 

 

(Restated)

 

North America

 

$

28,875

 

 

$

4,760

 

 

$

89,428

 

 

$

32,439

 

South America

 

 

702

 

 

 

12,123

 

 

 

752

 

 

 

21,567

 

Asia Pacific (1)

 

 

59,960

 

 

 

 

 

 

92,412

 

 

 

 

Total

 

$

89,537

 

 

$

16,883

 

 

$

182,592

 

 

$

54,006

 

 

(1)

Includes $58.5 million and $90.5 million from our marine operations in the three months and six months ended June 30, 2019, respectively.

 

Remaining Performance Obligations

 

As of June 30, 2019, we had $109.1 million of remaining performance obligations.  We expect to recognize revenue of approximately 62% of these performance obligations in 2019 and the remaining approximately 38% in 2020.