XML 31 R17.htm IDEA: XBRL DOCUMENT
v3.10.0.1

Revenue From Contracts With Customers | 12 Months Ended
--- | ---
Dec. 31, 2018
Revenue from Contract with Customer [Abstract] |
Revenue From Contracts With Customers | Revenue from Contracts with Customers Disaggregation of revenue The following table provides information about disaggregated revenue by contract duration for the year ended December 31, 2018 (in thousands):
| Well Intervention |  | Robotics |  | Production Facilities |  | Intercompany Eliminations (1) |  | Total Revenue
Short-term | $ | 199,294 |  |  | $ | 89,072 |  |  | $ | — |  |  | $ | — |  |  | $ | 288,366 |
Long-term (2) | 361,274 |  |  | 69,917 |  |  | 64,400 |  |  | (44,139 | ) |  | 451,452 |
Total | $ | 560,568 |  |  | $ | 158,989 |  |  | $ | 64,400 |  |  | $ | (44,139 | ) |  | $ | 739,818 |
(1) | Intercompany revenues between Robotics and Well Intervention are under agreements that are considered long-term.
(2) | Contracts are classified as long-term if all or part of the contract is to be performed over a period extending beyond 12 months from the effective date of the contract. Long-term contracts may include multi-year agreements whereby the commitment for services in any one year may be short in duration.
Contract balances Accounts receivable are recognized when our right to consideration becomes unconditional. Accounts receivable that have been billed to customers are recorded as trade accounts receivable while accounts receivable that have not been billed to customers are recorded as unbilled accounts receivable. Contract assets are rights to consideration in exchange for services that we have provided to a customer when those rights are conditional on our future performance. Contract assets generally consist of (i) demobilization fees recognized ratably over the contract term but invoiced upon completion of the demobilization activities and (ii) revenue recognized in excess of the amount billed to the customer for lump sum contracts when the cost-to-cost method of revenue recognition is utilized. Contract assets are reflected in “Other current assets” on the accompanying condensed consolidated balance sheet. Contract assets as of January 1, 2018 were immaterial while contract assets as of December 31, 2018 were $5.8 million. Impairment losses recognized on our accounts receivable were immaterial for the year ended December 31, 2018. Contract liabilities are obligations to provide future services to a customer for which we have already received, or have the unconditional right to receive, the consideration for those services from the customer. Contract liabilities may consist of (i) advance payments received from customers, including upfront mobilization fees allocated to the single performance obligation and recognized ratably over the contract term and (ii) the amount billed to the customer in excess of revenue recognized for lump sum contracts when the cost-to-cost method of revenue recognition is utilized. Contract liabilities are reflected as “Deferred revenue,” a component of “Accrued liabilities” and “Other non-current liabilities” on the accompanying condensed consolidated balance sheet. Contract liabilities as of January 1, 2018 and December 31, 2018 totaled $21.4 million and $25.9 million, respectively. Revenue recognized for the year ended December 31, 2018 included $11.6 million that were included in the contract liability balance as of January 1, 2018. We report the net contract asset or contract liability position on a contract-by-contract basis as of December 31, 2018. Performance obligations As of December 31, 2018, $1.1 billion related to unsatisfied performance obligations was expected to be recognized as revenue in the future, with $470.1 million in 2019, $396.3 million in 2020 and $277.6 million in 2021 and thereafter. These amounts included fixed consideration and estimated variable consideration for both wholly and partially unsatisfied performance obligations, including mobilization and demobilization fees. These amounts are derived from the specific terms within our contracts, and the expected timing for revenue recognition is based on the estimated start date and duration of each contract according to the information known at December 31, 2018. For the year ended December 31, 2018, revenues recognized from performance obligations satisfied (or partially satisfied) in previous years were immaterial. Contract costs Contract fulfillment costs consist of costs incurred in fulfilling a contract with a customer. Our contract fulfillment costs primarily relate to costs incurred for mobilization of personnel and equipment at the beginning of a contract and costs incurred for demobilization at the end of a contract. Mobilization costs are deferred and amortized ratably over the contract term (including anticipated contract extensions) based on the pattern of the provision of services to which the contract costs relate. Demobilization costs are recognized when incurred at the end of the contract. Deferred contract costs are reflected as “Deferred costs,” a component of “Other current assets” and “Other assets, net” on the accompanying condensed consolidated balance sheets (Note 3). Our deferred contract costs totaled $65.9 million as of December 31, 2018. For the year ended December 31, 2018, we recorded $33.1 million related to amortization of deferred contract costs existing as of January 1, 2018 and there were no associated impairment losses.

X
- References No definition available. + Details
Name: | us-gaap_RevenueFromContractWithCustomerAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -URI http://asc.fasb.org/topic&trid=49130388 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -URI http://asc.fasb.org/topic&trid=2122369 + Details
Name: | us-gaap_RevenueFromContractWithCustomerTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration