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Revenue
 3 Months Ended
Mar. 31, 2024
Revenue from Contract with Customer [Abstract]  
Revenue Revenue
The Company derives the majority of its revenue by providing services on a time and material basis, and are short-term in nature. The Company accounts for revenue in accordance with ASC Topic 606, Revenue from Contracts with Customers.
Performance Obligations
The Company provides highly integrated and bundled inspection services to its customers. The majority of the Company's contracts have a single performance obligation as the promise to transfer the individual goods or services is not separately identifiable from other promises in the contracts and is, therefore, not distinct. For contracts with multiple performance obligations, the Company allocates the contract’s transaction price to each performance obligation using the Company's best estimate of the standalone selling price of each distinct good or service in the contract. The primary method used to estimate standalone selling price is a relative selling price based on price lists.

Contract modifications are not routine in the performance of the Company's contracts. Generally, when contracts are modified, the modification is to account for changes in scope to the goods and services that are provided. In most instances, contract modifications are for goods or services that are distinct, and, therefore, are accounted for as a separate contract.

The Company's performance obligations are satisfied over time as work progresses or at a point in time. The majority of the Company's revenue is recognized over time as work progresses for the Company's service deliverables, which includes providing testing, inspection and mechanical services to our customers. Revenue is recognized over time, based on time and material incurred to date which best portrays the transfer of control to the customer. The Company also utilizes an available practical expedient that provides for revenue to be recognized in an amount that corresponds directly with the value to the customer of the entity’s performance completed to date. Fixed fee arrangements are determined based on expected labor, material, and overhead to be consumed on fulfillment of such services. For these arrangements, revenue is recognized on a cost-to-cost method tracked on an input basis.

The majority of our revenue recognized at a point in time is related to product sales when the customer obtains control of the asset, which is generally upon shipment to the customer. Contract costs include labor, material and overhead.

The Company expects any significant remaining performance obligations to be satisfied within one year.

Contract Estimates

The majority of the Company's revenues are short-term in nature. The Company enters into master service agreements ("MSA"s) with customers that specify an overall framework and contract terms. The actual contracting to provide services or furnish products are triggered by a work order, purchase order, or some similar document issued pursuant to a MSA which sets forth the scope of services and/or identifies the products to be provided. From time-to-time, the Company may enter into longer-term contracts, which can range from several months to several years. Revenue on certain contracts is recognized as work is performed based on total costs incurred to date in relation to the total estimated costs for the performance of the contract at completion. This includes contract estimates of costs to be incurred for the performance of the contract. Cost estimation is based upon the professional knowledge and experience of the Company's project managers, engineers and financial professionals. Factors that are considered in estimating the work to be completed include the availability of materials, the effect of any delays in the Company's project performance and the recoverability of any claims. Whenever revisions of estimates, contract costs and/or contract values indicate that the contract costs will exceed estimated revenues, thus creating a loss, a provision for the total estimated loss is recorded in that period.
Revenue by Category

The following series of tables present the Company's disaggregated revenue:

Revenue by industry was as follows:
Three Months Ended March 31, 2024North AmericaInternationalProducts & SystemsCorp/ElimTotal
Oil & Gas$103,027 $10,066 $72 $— $113,165 
Aerospace & Defense15,375 6,732 11 — 22,118 
Industrials 8,909 5,853 437 — 15,199 
Power generation & Transmission3,592 1,682 578 — 5,852 
Other Process Industries7,928 3,933 39 — 11,900 
Infrastructure, Research & Engineering3,972 2,205 409 — 6,586 
Petrochemical3,813 531 — — 4,344 
Other3,733 2,045 1,664 (2,164)5,278 
Total$150,349 $33,047 $3,210 $(2,164)$184,442 

Three Months Ended March 31, 2023North AmericaInternationalProducts & SystemsCorp/ElimTotal
Oil & Gas$89,773 $8,855 $37 $— $98,665 
Aerospace & Defense13,611 4,980 11 — 18,602 
Industrials 9,302 6,053 558 — 15,913 
Power generation & Transmission4,987 1,657 1,326 — 7,970 
Other Process Industries9,109 3,237 27 — 12,373 
Infrastructure, Research & Engineering2,483 2,136 1,142 — 5,761 
Petrochemical5,137 145 — — 5,282 
Other2,530 2,344 638 (2,062)3,450 
Total$136,932 $29,407 $3,739 $(2,062)$168,016 
Revenue per key geographic location was as follows:
Three Months Ended March 31, 2024North AmericaInternationalProducts & SystemsCorp/ElimTotal
United States$129,458 $296 $1,600 $(1,515)$129,839 
Other Americas17,127 2,295 177 (238)19,361 
Europe1,153 28,663 651 (346)30,121 
Asia-Pacific2,611 1,793 782 (65)5,121 
Total$150,349 $33,047 $3,210 $(2,164)$184,442 

Three Months Ended March 31, 2023North AmericaInternationalProducts & SystemsCorp/ElimTotal
United States$120,600 $309 $1,801 $(598)$122,112 
Other Americas14,270 3,489 326 (432)17,653 
Europe1,412 24,183 261 (826)25,030 
Asia-Pacific650 1,426 1,351 (206)3,221 
Total$136,932 $29,407 $3,739 $(2,062)$168,016 
Contract Balances
The timing of revenue recognition, billings and cash collections results in billed accounts receivable, unbilled receivables (contract assets), and customer advances and deposits (contract liabilities) on the Consolidated Balance Sheets. Amounts are generally billed as work progresses in accordance with agreed-upon contractual terms, generally at periodic intervals (e.g., weekly, bi-weekly or monthly). Generally, billing occurs subsequent to revenue recognition, resulting in contract assets. However, the Company sometimes receives advances or deposits from its customers before revenue is recognized, resulting in contract liabilities. These assets and liabilities are aggregated on an individual contract basis and reported on the Consolidated Balance Sheets at the end of each reporting period within accounts receivable, net or accrued expenses and other current liabilities.
Revenue recognized during the three months ended March 31, 2024 and 2023 that was included in the contract liability balance at the beginning of such year was $2.9 million and $3.1 million for each period. Changes in the contract asset and liability balances during these periods were not materially impacted by any other factors. The Company applies a practical expedient to expense incremental costs incurred related to obtaining a contract. The Company applies the practical expedient to expense incremental costs incurred related to obtaining a contract when the amortization period of the asset that the Company otherwise would have recognized is one year or less.