XML 24 R11.htm IDEA: XBRL DOCUMENT v3.21.2
Revenue
 9 Months Ended
Sep. 30, 2021
Revenue from Contract with Customer [Abstract]  
Revenue

3. Revenue

 

Disaggregation of Revenue

 

In general, the Company’s business segmentation is aligned according to the nature and economic characteristics of our services and provides meaningful disaggregation of each business segment’s results of operations. The nature of the Company’s performance obligations within our Treatment and Services Segments result in the recognition of our revenue primarily over time. The following tables present further disaggregation of our revenues by different categories for our Services and Treatment Segments:

 

Revenue by Contract Type                    
(In thousands)  Three Months Ended   Three Months Ended 
   September 30, 2021   September 30, 2020 
   Treatment   Services   Total   Treatment   Services   Total 
Fixed price  $8,893   $3,031   $11,924   $7,066   $2,372   $9,438 
Time and materials   —    3,873    3,873    —    20,734    20,734 
Total  $8,893   $6,904   $15,797   $7,066   $23,106   $30,172 

 

Revenue by Contract Type                    
(In thousands)  Nine Months Ended   Nine Months Ended 
   September 30, 2021   September 30, 2020 
   Treatment   Services   Total   Treatment   Services   Total 
Fixed price  $24,094   $7,094   $31,188   $24,469   $6,093   $30,562 
Time and materials   —    23,887    23,887    —    46,517    46,517 
Total  $24,094   $30,981   $55,075   $24,469   $52,610   $77,079 

 

Revenue by generator                        
(In thousands)  Three Months Ended   Three Months Ended 
   September 30, 2021   September 30, 2020 
   Treatment   Services   Total   Treatment   Services   Total 
Domestic government  $6,725   $4,552   $11,277   $5,334   $21,660   $26,994 
Domestic commercial   1,956    399    2,355    1,598    459    2,057 
Foreign government   36    1,931    1,967    134    966    1,100 
Foreign commercial   176    22    198     —    21    21 
Total  $8,893   $6,904   $15,797   $7,066   $23,106   $30,172 

 

Revenue by generator                        
(In thousands)  Nine Months Ended   Nine Months Ended 
   September 30, 2021   September 30, 2020 
   Treatment   Services   Total   Treatment   Services   Total 
Domestic government  $16,962   $24,172   $41,134   $19,079   $48,249   $67,328 
Domestic commercial   6,284    1,185    7,469    5,256    1,352    6,608 
Foreign government   577    5,556    6,133    134    2,945    3,079 
Foreign commercial   271    68    339     —    64    64 
Total  $24,094   $30,981   $55,075   $24,469   $52,610   $77,079 

 

Contract Balances

 

The timing of revenue recognition, billings, and cash collections results in accounts receivable and unbilled receivables (contract assets). The Company’s contract liabilities consist of deferred revenues which represents advance payment from customers in advance of the completion of our performance obligation.

 

The following table represents changes in our contract assets and contract liabilities balances:

 

           Year-to-date   Year-to-date 
(In thousands)  September 30, 2021   December 31, 2020   Change ($)   Change (%) 
Contract assets                    
Account receivables, net of allowance  $11,816   $9,659   $2,157    22.3%
Unbilled receivables - current   5,696    14,453    (8,757)   (60.6)%
                     
Contract liabilities                    
Deferred revenue  $3,435   $4,614   $(1,179)   (25.6)%

 

The decrease in unbilled receivables was primarily within our Services Segment due to invoicing and collection of accounts receivable on certain large projects which have been completed or are near completion.

 

 

During the three and nine months ended September 30, 2021, the Company recognized revenue of $561,000 and $6,635,000, respectively, related to untreated waste that was in the Company’s control as of the beginning of the year. During the three and nine months ended September 30, 2020, the Company recognized revenue of $1,134,000 and $7,673,000, respectively, related to untreated waste that was in the Company’s control as of the beginning of the year. All revenue recognized in each period related to performance obligations satisfied within the respective period.

 

Variable Consideration

 

The Company’s contracts generally do not give rise to variable consideration. However, during the three and nine months ended September 30, 2021, the Company recognized approximately $1,286,000 in revenue from a request for equitable adjustment (“REA”) under one of the Company’s Treatment Services contracts that resulted in cumulative catch-up adjustment in the transaction price that had been constrained in prior periods.

 

Remaining Performance Obligations

 

The Company applies the practical expedient in ASC 606-10-50-14 and does not disclose information about remaining performance obligations that have original expected durations of one year or less.

 

Within our Services Segment, there are service contracts which provide that the Company has a right to consideration from a customer in an amount that corresponds directly with the value to the customer of our performance completed to date. For those contracts, the Company has utilized the practical expedient in ASC 606-10-55-18, which allows the Company to recognize revenue in the amount for which we have the right to invoice; accordingly, the Company does not disclose the value of remaining performance obligations for those contracts.