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Operations by Business Segment and Geographic Area
 12 Months Ended
Dec. 31, 2023
Segment Reporting, Measurement Disclosures [Abstract]  
Business Segment Information OPERATIONS BY BUSINESS SEGMENT AND GEOGRAPHIC AREA
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 renewables energy market. Our Energy segments are:
• Subsea Robotics—Our Subsea Robotics segment provides the following:
◦ 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 Integrity Management & Digital Solutions (“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 years ended December 31, 2022 and 2021.
The table that follows presents revenue, income (loss) from operations and depreciation and amortization expense by business segment: 
 Year Ended December 31,
(in thousands)202320222021
Revenue
Energy
Subsea Robotics$752,521 $621,921 $538,515 
Manufactured Products493,692 382,361 344,251 
OPG546,366 489,317 378,121 
IMDS255,282 229,884 241,393 
Total Energy 2,047,861 1,723,483 1,502,280 
ADTech376,845 342,601 366,995 
Total$2,424,706 $2,066,084 $1,869,275 
Income (Loss) from Operations
Energy
Subsea Robotics$174,293 $118,248 $76,874 
Manufactured Products35,551 11,692 (15,876)
OPG64,546 49,256 31,197 
IMDS13,373 14,901 18,572 
Total Energy287,763 194,097 110,767 
ADTech45,003 44,168 60,992 
Unallocated Expenses(151,438)(127,402)(131,960)
Total$181,328 $110,863 $39,799 
Depreciation and Amortization Expense
Energy
Subsea Robotics$54,365 $67,684 $87,900 
Manufactured Products12,220 11,946 12,788 
OPG27,956 28,560 28,173 
IMDS3,608 4,599 4,420 
Total Energy 98,149 112,789 133,281 
ADTech2,504 2,853 4,783 
Unallocated Expenses4,307 5,327 1,659 
Total$104,960 $120,969 $139,723 
We determine income (loss) from operations for each business segment before interest income or expense, other income (expense) and provision for income taxes. We do not consider an allocation of these items to be practical.
Revenue
During December 31, 2023, 2022 and 2021, revenue from one customer, the U.S. Government, accounted for 10%, 11% and 12%, respectively, of our total consolidated annual revenue, and no other customer accounted for more than 10% of our total consolidated revenue.
Income (Loss) from Operations
Year ended December 31, 2021—During the year ended December 31, 2021, we recorded charges and other discrete impacts attributable to each of our reporting segments as follows:
For the Year Ended December 31, 2021
(in thousands)
Subsea Robotics
Manufactured Products
OPG
IMDS
ADTech
Unallocated Expenses
Total
Impacts for the effects of:
Provision for Evergrande losses, net$— $29,549  $—  $—  $—  $— $29,549 
Loss on sale of asset
—  —  —  —  —  1,415 1,415 
Other
395  537  149  217  10  — 1,308 
Total charges
$395 $30,086 $149 $217 $10 $1,415 $32,272 
There were no adjustments of a similar nature during the years ended December 31, 2023 and 2022.
Depreciation and Amortization Expense
Depreciation expense on property and equipment, reflected in the Depreciation and Amortization Expense table above, was $99 million, $113 million and $136 million in 2023, 2022 and 2021, respectively.
Amortization expense on long-lived intangible assets, reflected in the Depreciation and Amortization Expense table above, was $6.4 million, $7.5 million and $3.8 million in 2023, 2022 and 2021, respectively.
Assets, Property and Equipment, Net and Goodwill
The following table presents Assets, Property and Equipment, net and Goodwill by business segment: 
 December 31,
(in thousands)20232022
Assets
Energy
Subsea Robotics$488,900 $467,608 
Manufactured Products344,215 339,087 
OPG478,937 345,264 
IMDS90,559 91,154 
Total Energy1,402,611 1,243,113 
ADTech111,333 115,450 
Corporate and Other725,062 673,120 
Total$2,239,006 $2,031,683 
Property and Equipment, Net
Energy
Subsea Robotics$186,995 $175,239 
Manufactured Products68,694 74,282 
OPG135,712 159,439 
IMDS13,712 9,807 
Total Energy405,113 418,767 
ADTech7,431 6,186 
Corporate and Other11,749 13,496 
Total$424,293 $438,449 
Goodwill
Energy
Subsea Robotics$23,760 $23,885 
Total Energy23,760 23,885 
ADTech10,454 10,454 
Total$34,214 $34,339 
All assets specifically identified with a particular business segment have been segregated. Cash and cash equivalents, certain other current assets, certain investments and certain other assets have not been allocated to particular business segments and are included in Corporate and Other. The changes in our reporting units’ goodwill balances during the periods presented are from currency exchange rate changes.
Capital Expenditures
The following table presents Capital Expenditures, including business acquisitions, by business segment: 
 Year Ended December 31,
(in thousands)202320222021
Capital Expenditures
Energy
Subsea Robotics$67,197 $55,649 $27,591 
Manufactured Products6,776 4,129 2,510 
OPG8,574 4,456 7,980 
IMDS10,346 4,058 3,305 
Total Energy92,893 68,292 41,386 
ADTech4,953 1,956 2,525 
Corporate and Other2,880 10,795 6,288 
Total$100,726 $81,043 $50,199 
Geographic Operating Areas
For 2023 and 2022, $338 million and $140 million of right-of-use operating lease assets are included in the following table which summarizes Property and Equipment, Net and Right-of-Use Operating Lease Assets by geographic area:
 December 31,
(in thousands)20232022
Property and Equipment, Net and Right-of-Use Operating Lease Assets

Foreign:
United Kingdom$129,124 $59,762 
Brazil71,239 59,045 
Norway69,739 59,933 
Africa41,306 36,583 
Asia and Australia37,244 33,988 
Other15,267 13,425 
Total Foreign363,919 262,736 
United States397,928 315,324 
Total$761,847 $578,060 
Revenue is based on location where services are performed and products are manufactured. See Note 3—”Revenue” for disclosure of revenue by geographic area .