XML 59 R41.htm IDEA: XBRL DOCUMENT v3.25.0.1
Revenue Business Segment (Details) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Segment Reporting Information [Line Items]      
Revenue from External Customers by Products and Services [Table Text Block]  
The following table presents revenue disaggregated by business segment, geographical region, and timing of transfer of goods or services.
Year Ended December 31,
(in thousands)202420232022
Business Segment:
Energy
Subsea Robotics$829,822 $752,521 $621,921 
Manufactured Products555,500 493,692 382,361 
Offshore Projects Group591,037 546,366 489,317 
Integrity Management & Digital Solutions291,866 255,282 229,884 
Total Energy 2,268,225 2,047,861 1,723,483 
Aerospace and Defense Technologies392,936 376,845 342,601 
Total$2,661,161 $2,424,706 $2,066,084 
 
Revenue by Timing of Transfer of Goods or Services [Table Text Block]  
Year Ended December 31,
(in thousands)202420232022
Timing of Transfer of Goods or Services:
Revenue recognized over time$2,474,830 $2,272,160 $1,929,031 
Revenue recognized at a point in time186,331 152,546 137,053 
Total$2,661,161 $2,424,706 $2,066,084 
 
Revenue from External Customers by Geographic Areas [Table Text Block]  
Year Ended December 31,
(in thousands)202420232022
Geographic Operating Areas:
Foreign:
Africa$434,536 $331,891 $286,687 
United Kingdom291,464 205,886 177,234 
Norway233,134 189,802 180,186 
Brazil229,534 202,892 139,859 
Asia and Australia210,582 274,160 206,564 
Other134,106 189,694 96,742 
Total Foreign1,533,356 1,394,325 1,087,272 
United States1,127,805 1,030,381 978,812 
Total$2,661,161 $2,424,706 $2,066,084 
 
Contract with Customer, Asset and Liability [Table Text Block]
The following table provides information about contract assets and contract liabilities from contracts with customers.
Year Ended December 31,
(in thousands)20242023
Total contract assets, beginning of period$234,505 $184,847 
Revenue accrued2,540,010 2,328,382 
Amounts billed(2,499,235)(2,278,724)
Total contract assets, end of period$275,280 $234,505 
Total contract liabilities, beginning of period$164,631 $112,950 
Deferrals of milestone payments109,641 149,864 
Recognition of revenue for goods and services(133,575)(98,183)
Total contract liabilities, end of period$140,697 $164,631 
   
Revenues $ 2,661,161 $ 2,424,706 $ 2,066,084
Disaggregation of Revenue REVENUE
Revenue by Category
The following table presents revenue disaggregated by business segment, geographical region, and timing of transfer of goods or services.
Year Ended December 31,
(in thousands)202420232022
Business Segment:
Energy
Subsea Robotics$829,822 $752,521 $621,921 
Manufactured Products555,500 493,692 382,361 
Offshore Projects Group591,037 546,366 489,317 
Integrity Management & Digital Solutions291,866 255,282 229,884 
Total Energy 2,268,225 2,047,861 1,723,483 
Aerospace and Defense Technologies392,936 376,845 342,601 
Total$2,661,161 $2,424,706 $2,066,084 
Year Ended December 31,
(in thousands)202420232022
Geographic Operating Areas:
Foreign:
Africa$434,536 $331,891 $286,687 
United Kingdom291,464 205,886 177,234 
Norway233,134 189,802 180,186 
Brazil229,534 202,892 139,859 
Asia and Australia210,582 274,160 206,564 
Other134,106 189,694 96,742 
Total Foreign1,533,356 1,394,325 1,087,272 
United States1,127,805 1,030,381 978,812 
Total$2,661,161 $2,424,706 $2,066,084 
   
Energy Business Segments [Abstract]      
Segment Reporting Information [Line Items]      
Revenues $ 2,268,225 2,047,861 1,723,483
Subsea Robotics      
Segment Reporting Information [Line Items]      
Revenues 829,822 752,521 621,921
Manufactured Products      
Segment Reporting Information [Line Items]      
Revenues 555,500 493,692 382,361
Offshore Projects Group      
Segment Reporting Information [Line Items]      
Revenues 591,037 546,366 489,317
Integrity Management & Digital Solutions      
Segment Reporting Information [Line Items]      
Revenues 291,866 255,282 229,884
Aerospace and Defense Technologies      
Segment Reporting Information [Line Items]      
Revenues $ 392,936 $ 376,845 $ 342,601