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Business Segment Information
 3 Months Ended
Mar. 31, 2023
Segment Reporting, Measurement Disclosures [Abstract]  
Business Segment Information BUSINESS SEGMENT INFORMATION
We are a global technology company delivering engineered services and products and robotic solutions to the offshore energy, defense, aerospace, manufacturing and entertainment industries.

Our Energy business leverages our asset base and capabilities for providing services and products for offshore energy operations, inclusive of the offshore renewable energy market. Our Energy segments are:

•Subsea Robotics—Our Subsea Robotics segment provides the following:
◦Remotely Operated Vehicles (“ROVs”) for drill support and vessel-based services, including subsea hardware installation, construction, pipeline inspection, survey and facilities inspection, maintenance and repair;
◦ROV tooling; and
◦survey services, including hydrographic survey and positioning services and autonomous underwater vehicles for geoscience.

•Manufactured Products—Our Manufactured Products segment provides the following:
◦distribution and connection systems including production control umbilicals and field development hardware and pipeline connection and repair systems to the energy industry; and
◦autonomous mobile robotic technology and entertainment systems to a variety of industries.

•Offshore Projects Group—Our OPG segment provides the following:
◦subsea installation and intervention, including riserless light well intervention services, inspection, maintenance and repair (“IMR”) services, principally in the U.S. Gulf of Mexico and offshore Angola, utilizing owned and charter vessels;
◦installation and workover control systems and ROV workover control systems;
◦diving services;
◦project management and engineering; and
◦drill pipe riser services and systems and wellhead load relief solutions.

•Integrity Management & Digital Solutions—Our IMDS segment provides the following:
◦asset integrity management services;
◦software and analytical solutions for the bulk cargo maritime industry; and
◦software, digital and connectivity solutions for the energy industry.

Our Aerospace and Defense Technologies segment provides services and products, including engineering and related manufacturing in defense and space exploration activities, principally to U.S. Government agencies and their prime contractors.

Unallocated Expenses are those not associated with a specific business segment. These consist of expenses related to our incentive and deferred compensation plans, including restricted stock and bonuses, as well as other general expenses, including corporate administrative expenses.

There are no differences in the basis of segmentation or in the basis of measurement of segment profit or loss from
those used in our consolidated financial statements for the year ended December 31, 2022.
The table that follows presents revenue, income (loss) from operations and depreciation and amortization expense, by business segment:
 Three Months Ended
(in thousands)Mar 31, 2023Mar 31, 2022Dec 31, 2022
Revenue
Energy
Subsea Robotics$169,161 $127,989 $167,387 
Manufactured Products112,939 82,692 100,174 
Offshore Projects Group104,307 97,397 122,476 
Integrity Management & Digital Solutions60,083 56,570 55,411 
Total Energy446,490 364,648 445,448 
Aerospace and Defense Technologies90,497 81,511 90,775 
Total$536,987 $446,159 $536,223 
Income (Loss) from Operations
Energy
Subsea Robotics$33,654 $11,552 $43,689 
Manufactured Products11,280 2,643 6,132 
Offshore Projects Group5,514 666 10,745 
Integrity Management & Digital Solutions3,082 3,508 4,866 
Total Energy53,530 18,369 65,432 
Aerospace and Defense Technologies8,496 11,844 10,320 
Unallocated Expenses(35,276)(31,252)(33,575)
Total$26,750 $(1,039)$42,177 
Depreciation and Amortization
Energy
Subsea Robotics$14,940 $19,001 $15,139 
Manufactured Products3,044 3,072 2,915 
Offshore Projects Group7,128 7,297 7,024 
Integrity Management & Digital Solutions858 1,030 840 
Total Energy25,970 30,400 25,918 
Aerospace and Defense Technologies653 656 705 
Unallocated Expenses1,198 963 1,218 
Total$27,821 $32,019 $27,841 

We determine Income (Loss) from Operations for each business segment before interest income or expense, other income (expense) and provision for income taxes. We do not consider an allocation of these items to be practical.

Depreciation and Amortization

Depreciation expense on property and equipment, reflected in Depreciation and Amortization, was $26 million, $30 million and $26 million in the three-month periods ended March 31, 2023 and 2022 and December 31, 2022, respectively.

Amortization expense on long-lived intangible assets, reflected in Depreciation and Amortization, was $1.7 million, $1.6 million and $1.7 million in the three-month periods ended March 31, 2023 and 2022 and December 31, 2022, respectively.