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Revenue
 3 Months Ended
Jun. 30, 2022
Revenue from Contract with Customer [Abstract]  
Revenue REVENUE
Revenue by Category

The following tables present revenue disaggregated by business segment, geographical region, and timing of transfer of goods or services.
Three Months EndedSix Months Ended
(in thousands)Jun 30, 2022Jun 30, 2021Jun 30, 2022Jun 30, 2021
Business Segment:
Energy Services and Products
Subsea Robotics$157,123 $141,371 $285,112 $260,490 
Manufactured Products105,456 79,127 188,148 165,952 
Offshore Projects Group116,457 107,951 213,854 197,185 
Integrity Management & Digital Solutions59,438 64,070 116,008 118,118 
Total Energy Services and Products438,474 392,519 803,122 741,745 
Aerospace and Defense Technologies85,557 105,680 167,068 194,007 
Total$524,031 $498,199 $970,190 $935,752 
Geographic Operating Areas:
Foreign:
Africa$67,910 $71,405 $131,319 $134,197 
Asia and Australia49,544 42,150 99,105 79,697 
Norway47,911 57,360 93,188 109,654 
United Kingdom46,131 45,967 84,888 89,147 
Brazil37,951 27,520 68,302 48,173 
Other21,120 25,836 44,168 46,271 
Total Foreign270,567 270,238 520,970 507,139 
United States253,464 227,961 449,220 428,613 
Total$524,031 $498,199 $970,190 $935,752 
Timing of Transfer of Goods or Services:
Revenue recognized over time$484,722 $471,474 $901,725 $879,647 
Revenue recognized at a point in time39,309 26,725 68,465 56,105 
Total$524,031 $498,199 $970,190 $935,752 

Contract Balances
Our contracts with milestone payments have, in the aggregate, a significant impact on the contract asset and the contract liability balances. Milestones are contractually agreed with customers and relate to significant events across the contract lives. Some milestones are achieved before revenue is recognized, resulting in a contract liability, while other milestones are achieved after revenue is recognized, resulting in a contract asset.
The following table provides information about contract assets and contract liabilities from contracts with customers.
Six months ended
(in thousands)Jun 30, 2022Jun 30, 2021
Total contract assets, beginning of period$164,847 $221,997 
Revenue accrued915,969 898,853 
Amounts billed(892,144)(873,688)
Total contract assets, end of period$188,672 $247,162 
Total contract liabilities, beginning of period$88,175 $50,046 
Deferrals of milestone payments24,084 47,430 
Recognition of revenue for goods and services(55,696)(35,488)
Total contract liabilities, end of period$56,563 $61,988 
   
Performance Obligations

As of June 30, 2022, the aggregate amount of the transaction price allocated to remaining performance obligations that were unsatisfied (or partially unsatisfied) was $189 million. In arriving at this value, we have used two expedients available to us and are not disclosing amounts in relation to performance obligations: (1) that are part of contracts with an original expected duration of one year or less; or (2) on contracts where we recognize revenue in line with the billing. Of this amount, we expect to recognize revenue of $170 million over the next 12 months, and we expect to recognize substantially all of the remaining balance of $19 million within the next 24 months.
Due to the nature of our service contracts in our Subsea Robotics, OPG, Integrity Management & Digital Solutions (“IMDS”) and ADTech segments, the majority of our contracts either have initial contract terms of one year or less or have customer option cancellation clauses that lead us to consider the original expected duration of one year or less.
In our Manufactured Products and ADTech segments, we have long-term contracts that extend beyond one year, and these make up the majority of the performance obligations balance reported as of June 30, 2022. We also have shorter-term product contracts with an expected original duration of one year or less that have been excluded.
Where appropriate, we have made estimates within the transaction price of elements of variable consideration within the contracts and constrained those amounts to a level where we consider it is probable that a significant reversal in the amount of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is subsequently resolved. The amount of revenue recognized in the three- and six-month periods ended June 30, 2022 and 2021 that was associated with performance obligations completed or partially completed in prior periods was not significant.
As of June 30, 2022, there were no significant outstanding liability balances for refunds or returns due to the nature of our contracts and the services and products we provide. Our warranties are limited to assurance warranties that are of a standard length and are not considered to be material rights. The majority of our contracts consist of a single performance obligation. When there are multiple obligations, we look for observable evidence of stand-alone selling prices on which to base the allocation. This involves judgment as to the appropriateness of the observable evidence relating to the facts and circumstances of the contract. If we do not have observable evidence, we estimate stand-alone selling prices by taking a cost-plus-margin approach, using typical margins from the type of product or service, customer and regional geography involved.

Costs to Obtain or Fulfill a Contract
In line with the available practical expedient, we capitalize incremental costs to obtain a contract that would not have been incurred if the contract had not been obtained when those amounts are significant and the contract is expected at inception to exceed one year in duration. Our costs to obtain a contract primarily consist of bid and proposal costs, which are generally expensed in the period when incurred. There were no balances or amortization of costs to obtain a contract in the current reporting periods.

Costs to fulfill a contract primarily consist of certain mobilization costs incurred to provide services or products to our customers. These costs are deferred and amortized over the period of contract performance. The closing balance of
costs to fulfill a contract was $8.6 million and $7.8 million as of June 30, 2022 and December 31, 2021, respectively. For the three- and six-month periods ended June 30, 2022, we recorded amortization expense of $1.3 million and $3.1 million, respectively. For the three- and six-month periods ended June 30, 2021, we recorded amortization expense of $1.3 million and $2.3 million, respectively. No impairment costs were recognized.