Schedule of financial data by reportable segment

Information about our segment revenues and our measure of segment profit or loss is shown as follows (in thousands):


	Well				Shallow Water		Production
	Intervention		Robotics		Abandonment		Facilities		Total
Year ended December 31, 2024
External revenues	$	823,472	$	259,639	$	186,740	$	88,709	$	1,358,560
Intersegment revenues ⁽¹⁾		6,390		38,039		239		—		44,668
Segment revenues		829,862		297,678		186,979		88,709		1,403,228
Elimination of intersegment revenues										(44,668)
Total consolidated net revenues									$	1,358,560

Less ⁽²⁾:
Direct cost of revenues		(704,120)		(203,849)		(175,111)		(64,429)
Operations support		(15,130)		(5,542)		(12,645)		(514)
Selling, general and administrative expenses		(16,991)		(10,944)		(8,396)		(2,513)
Other segment items ⁽³⁾		(416)		—		(150)		87
Segment operating income (loss)	$	93,205	$	77,343	$	(9,323)	$	21,340	$	182,565


	Well				Shallow Water		Production
	Intervention		Robotics		Abandonment		Facilities		Total
Year ended December 31, 2023
External revenues	$	704,365	$	222,612	$	274,866	$	87,885	$	1,289,728
Intersegment revenues ⁽¹⁾		3,353		35,263		88		—		38,704
Segment revenues		707,718		257,875		274,954		87,885		1,328,432
Elimination of intersegment revenues										(38,704)
Total consolidated net revenues									$	1,289,728

Less ⁽²⁾:
Direct cost of revenues		(646,127)		(192,419)		(186,873)		(63,785)
Operations support		(14,427)		(4,838)		(16,820)		(606)
Selling, general and administrative expenses		(14,766)		(8,468)		(5,088)		(2,662)
Other segment items ⁽³⁾		—		300		67		—
Segment operating income	$	32,398	$	52,450	$	66,240	$	20,832	$	171,920

Year ended December 31, 2022
External revenues	$	507,696	$	158,279	$	124,810	$	82,315	$	873,100
Intersegment revenues ⁽¹⁾		635		33,642		—		—		34,277
Segment revenues		508,331		191,921		124,810		82,315		907,377
Elimination of intersegment revenues										(34,277)
Total consolidated net revenues									$	873,100

Less ⁽²⁾:
Direct cost of revenues		(536,923)		(150,020)		(92,036)		(51,165)
Operations support		(11,515)		(4,394)		(8,855)		(484)
Selling, general and administrative expenses		(12,949)		(7,526)		(1,735)		(3,465)
Segment operating income (loss)	$	(53,056)	$	29,981	$	22,184	$	27,201	$	26,310

(1)

Intersegment amounts are derived primarily from equipment and services provided to other business segments. Beginning in 2024, certain intersegment revenues of Well Intervention are no longer evaluated by the CODM in his assessment of the segment’s results as those revenues are pass-through amounts related to non-core services. For the years ended December 31, 2024, 2023 and 2022, $27.6 million, $25.0 million and $15.9 million, respectively, have been removed from Well Intervention segment revenues and related intersegment eliminations. This change has no impact on our segment profit or our consolidated revenues and operating income (loss).

(2)	The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM. Intersegment expenses are included within the amounts shown.

(3)	Other segment items relate to gain (loss) on disposition of assets, net.

Schedule of other items regularly provided to the CODM

The following items are also regularly provided to the CODM (in thousands):


	Year Ended December 31,
	2024		2023		2022
Capital expenditures ⁽¹⁾ —
Well Intervention	$	10,955	$	7,763	$	17,617
Robotics		10,402		3,957		15,603
Shallow Water Abandonment		1,403		6,890		532
Production Facilities		—		—		(1,424)
Corporate, eliminations and other		543		978		1,176
Total	$	23,303	$	19,588	$	33,504

Depreciation and amortization ⁽²⁾ —
Well Intervention	$	123,517	$	113,025	$	103,952
Robotics		7,601		9,604		12,209
Shallow Water Abandonment		20,463		20,150		8,172
Production Facilities		21,279		21,028		18,520
Corporate and eliminations		432		309		(167)
Total	$	173,292	$	164,116	$	142,686

(1)	Represent cash paid principally for the acquisition, construction, upgrade, modification and refurbishment of long-lived property and equipment.

(2)	Represents an aggregate of depreciation and amortization expense included within the segment expense captions “Direct cost of revenues” and “Selling, general and administrative expenses” as well as the line item caption “Corporate, eliminations and other” presented above.

Schedule of property and equipment, net of accumulated depreciation, by individually significant geographic location

The following table provides our property and equipment, net of accumulated depreciation, by individually significant country where those assets are based (in thousands):


	December 31,
	2024		2023
U.S.	$	659,721	$	735,406
U.K.		578,505		617,819
Brazil		199,627		219,624
Total	$	1,437,853	$	1,572,849