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Note 4 - Revenue Recognition
 9 Months Ended
Sep. 30, 2025
Notes to Financial Statements  
Revenue from Contract with Customer [Text Block]

(4)

REVENUE RECOGNITION

 

See Note (13) - “Segment and Geographic Distribution of Operations” for revenue by segment and in total for the worldwide fleet.

 

Contract Balances

 

At September 30, 2025, we had $0.1 million of deferred mobilization costs included within Prepaid expenses and other current assets and $0.8 million of deferred mobilization costs included in Other assets. At December 31, 2024, we had $1.1 million of deferred mobilization costs included with Prepaid expenses and other current assets and $0.6 million of deferred mobilization costs included in Other assets.

 

At September 30, 2025, we had $3.9 million of deferred mobilization revenue included within Accrued expenses and $3.6 million of deferred mobilization revenue included in Other liabilities that will be recognized from 2025 through 2027. At December 31, 2024, we have $9.4 million of deferred mobilization revenue included within Accrued expenses and $2.1 million of deferred mobilization revenue included in Other liabilities.

 

During the nine months ended September 30, 2025, the amount of revenue recognized that was included in deferred mobilization revenue at the beginning of the period was $8.6 million. The amount of revenue recognized in the prior year period was immaterial.