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Revenue Recognition (Tables) | 6 Months Ended
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Jun. 30, 2024
Revenue from Contract with Customer [Abstract] |
Schedule of Revenue from Contract with Customers | Revenues from contracts with customers consisted of the following:
|  | Three months ended |  |  | Six months ended |
|  | June 30, |  |  | June 30, |
|  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
|  | (In thousands) |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |
Products: |  |  |  |  |  |  |  |  |  |  |  |
Subsea products |  | $ | 42,681 |  |  | $ | 44,579 |  |  | $ | 78,013 |  |  | $ | 90,696 |
Well construction |  |  | 31,649 |  |  |  | 11,249 |  |  |  | 60,879 |  |  |  | 24,378 |
Total products |  | $ | 74,330 |  |  | $ | 55,828 |  |  | $ | 138,892 |  |  | $ | 115,074 |
Services: |  |  |  |  |  |  |  |  |  |  |  |
Subsea services |  | $ | 19,292 |  |  | $ | 16,333 |  |  | $ | 36,016 |  |  | $ | 32,818 |
Well construction services |  |  | 13,422 |  |  |  | 7,400 |  |  |  | 26,885 |  |  |  | 12,196 |
Total services |  | $ | 32,714 |  |  | $ | 23,733 |  |  | $ | 62,901 |  |  | $ | 45,014 |
Total |  | $ | 107,044 |  |  | $ | 79,561 |  |  | $ | 201,793 |  |  | $ | 160,088 |
Schedule of Contract Asset and Liability | Balances related to contracts with customers consisted of the following: Contract Assets (amounts shown in thousands)
Contract assets at December 31, 2023 |  | $ | 144,191 |
Additions |  |  | 198,055 |
Transfers to Trade receivables, net |  |  | (213,176 | )
Contract assets at June 30, 2024 |  | $ | 129,070 |
Contract Liabilities (amounts shown in thousands)
Contract liabilities at December 31, 2023 |  | $ | 7,583 |
Additions |  |  | 4,114 |
Revenue recognized |  |  | (3,737 | )
Contract liabilities at June 30, 2024 |  | $ | 7,960 |

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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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