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Revenue Recognition (Tables) | 12 Months Ended
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Dec. 31, 2023
Revenue from Contract with Customer [Abstract] |
Schedule of Revenue from Contract with Customers | Revenues from contracts with customers consisted of the following:
|  | Twelve Months Ended |
|  | December 31, |
|  | 2023 |  |  | 2022 |  |  | 2021 |
|  | (In thousands) |
Revenues: |  |  |  |  |  |  |  |  |
Products: |  |  |  |  |  |  |  |  |
Subsea products |  | $ | 198,321 |  |  | $ | 194,237 |  |  | $ | 168,361 |
Well construction |  |  | 72,700 |  |  |  | 46,525 |  |  |  | 44,902 |
Total products |  |  | 271,021 |  |  |  | 240,762 |  |  |  | 213,263 |
Services: |  |  |  |  |  |  |  |  |
Subsea services |  |  | 72,241 |  |  |  | 60,937 |  |  |  | 58,086 |
Well construction services |  |  | 33,439 |  |  |  | 18,192 |  |  |  | 16,057 |
Total services |  |  | 105,680 |  |  |  | 79,129 |  |  |  | 74,143 |
Leasing: |  |  |  |  |  |  |  |  |
Subsea leasing |  |  | 29,023 |  |  |  | 33,694 |  |  |  | 27,970 |
Well Construction leasing |  |  | 18,336 |  |  |  | 8,339 |  |  |  | 7,072 |
Total leasing (1) |  |  | 47,359 |  |  |  | 42,033 |  |  |  | 35,042 |
Total revenues |  | $ | 424,060 |  |  | $ | 361,924 |  |  | $ | 322,448 |
(1) As of December 31, 2023, revenues from contracts with customers includes leasing revenues. Leasing revenue was previously excluded in the Annual Report on Form 10-K filed as of December 31, 2022.
Schedule of Contract Asset and Liability | Balances related to contrac ts with customers consisted of the following: Contract Assets (amounts shown in thousands)
Contract Assets at December 31, 2022 |  | $ | 144,428 |
Additions |  |  | 417,248 |
Transfers to Accounts Receivable |  |  | (413,247 | )
Contract Assets at December 31, 2023 |  | $ | 148,429 |
Contract Liabilities (amounts shown in thousands)
Contract Liabilities at December 31, 2022 |  | $ | 8,020 |
Additions |  |  | 6,364 |
Revenue Recognized |  |  | (6,801 | )
Contract Liabilities at December 31, 2023 |  | $ | 7,583 |

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- Definition Tabular disclosure of receivable, contract asset, and contract liability from contract with customer. Includes, but is not limited to, change in contract asset and contract liability. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-10 + Details
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- Definition Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-5 + Details
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