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Revenue, Contract Assets and Liabilities and Other Contract Matters (Tables) | 12 Months Ended
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Dec. 31, 2020
Revenue From Contract With Customer [Abstract] |
Summary of Disaggregation of Revenue | The following tables summarize revenue for each of our operating segments, disaggregated by contract type, for 2020, 2019 and 2018 (in thousands):
|  | Year Ended December 31, 2020 |
Contract Type |  | Shipyard |  |  | F&S |  |  | Eliminations |  |  | Total |
Fixed-price and unit-rate (1) |  | $ | 151,508 |  |  | $ | 66,790 |  |  | $ | (148 | ) |  | $ | 218,150 |
T&M (2) |  |  | 2,190 |  |  |  | 25,294 |  |  |  | (388 | ) |  |  | 27,096 |
Other |  |  | — |  |  |  | 7,401 |  |  |  | (1,688 | ) |  |  | 5,713 |
Total |  | $ | 153,698 |  |  | $ | 99,485 |  |  | $ | (2,224 | ) |  | $ | 250,959 |
|  | Year Ended December 31, 2019 (3) |
Contract Type |  | Shipyard |  |  | F&S |  |  | Eliminations |  |  | Total |
Fixed-price and unit-rate (1) |  | $ | 161,839 |  |  | $ | 86,211 |  |  | $ | (430 | ) |  | $ | 247,620 |
T&M (2) |  |  | 6,627 |  |  |  | 41,014 |  |  |  | — |  |  |  | 47,641 |
Other |  |  | — |  |  |  | 9,944 |  |  |  | (1,897 | ) |  |  | 8,047 |
Total |  | $ | 168,466 |  |  | $ | 137,169 |  |  | $ | (2,327 | ) |  | $ | 303,308 |
|  | Year Ended December 31, 2018 (3) |
Contract Type |  | Shipyard |  |  | F&S |  |  | Eliminations |  |  | Total |
Fixed-price and unit-rate (1) |  | $ | 88,887 |  |  | $ | 77,318 |  |  | $ | (700 | ) |  | $ | 165,505 |
T&M (2) |  |  | 7,537 |  |  |  | 43,481 |  |  |  | — |  |  |  | 51,018 |
Other |  |  | — |  |  |  | 5,896 |  |  |  | (1,172 | ) |  |  | 4,724 |
Total |  | $ | 96,424 |  |  | $ | 126,695 |  |  | $ | (1,872 | ) |  | $ | 221,247 |
| (1) | Revenue is recognized as the contract is progressed over time.
| (2) | Revenue is recognized at contracted rates when the work is performed and costs are incurred.
| (3) | See Note 10 for discussion of our realigned operating divisions.
Summary of Remaining Performance Obligation by Operating Segment | The following table summarizes our remaining performance obligations by operating segment at December 31, 2020 (in thousands).
Segment |  | Performance Obligations |
Shipyard |  | $ | 352,181 |
F&S |  |  | 19,381 |
Total |  | $ | 371,562 |
We expect to recognize revenue for our remaining performance obligations at December 31, 2020, in the following periods (in thousands):
Year |  | Total |
2021 |  | $ | 161,370 |
2022 |  |  | 140,018 |
2022 and beyond |  |  | 70,174 |
Total |  | $ | 371,562 |
Summary of Contract with Customer, Asset and Liability | Information with respect to uncompleted contracts at December 31, 2020 and 2019 is as follows (in thousands):
|  | December 31, |
|  | 2020 |  |  | 2019 |
Costs incurred on uncompleted contracts |  | $ | 328,229 |  |  | $ | 386,932 |
Estimated loss incurred to date |  |  | (19,617 | ) |  |  | (48,895 | )
Sub-total |  |  | 308,612 |  |  |  | 338,037 |
Billings to date |  |  | (256,220 | ) |  |  | (295,136 | )
Deferred revenue (1) |  |  | — |  |  |  | (4,592 | )
Total |  | $ | 52,392 |  |  | $ | 38,309 |
The above amounts are included within the following captions on our Balance Sheet at December 31, 2020 and 2019 (in thousands):
|  | December 31, |
|  | 2020 |  |  | 2019 |
Contract assets (2) |  | $ | 67,521 |  |  | $ | 52,128 |
Contract liabilities (2), (3), (4) |  |  | (15,129 | ) |  |  | (26,271 | )
Sub-total |  |  | 52,392 |  |  |  | 25,857 |
Contract assets, noncurrent (1) |  |  | — |  |  |  | 12,452 |
Total |  | $ | 52,392 |  |  | $ | 38,309 |
| (1) | We have contracts for the construction of two MPSVs that are subject to purported termination by our customer. Our net contract asset, accrued contract losses and deferred revenue balances at the time of the customer’s purported terminations of the contracts totaled $12.5 million and such amount has been reflected within other noncurrent assets on our Balance Sheet at December 31, 2020 and 2019. Although the net contract asset of $12.5 million was included within other noncurrent assets on our Balance Sheet at December 31, 2020, the information with respect to such contracts is not presented in the tables above at December 31, 2020 given the prolonged nature of the dispute. See Note 8 for further discussion of our MPSV contracts.
| (2) | The increase in contract assets compared to December 31, 2019, was primarily due to increased unbilled positions on three projects in our Shipyard Division, offset partially by decreased unbilled positions on four projects in our Shipyard Division and a project in our Fabrication & Services Division. The decrease in contract liabilities compared to December 31, 2019, was primarily due to the unwind of advance payments on two projects in our Shipyard Division and two projects in our Fabrication & Services Division, offset partially by advance payments on a project in our Shipyard Division.
| (3) | Revenue recognized during 2020, 2019 and 2018 related to amounts included in our contract liabilities balance at December 31, 2019, 2018 and 2017, was $18.2 million, $14.3 million and $5.1 million, respectively.
| (4) |
|  | Contract liabilities at December 31, 2020 and 2019, includes accrued contract losses of $8.6 million and $6.4 million, respectively. See “Changes in Project Estimates” below for further discussion of our accrued contract losses.
Schedules of Concentration of Risk, by Risk Factor | However, for 2020, 2019 and 2018, certain customers individually accounted for 10% or more of our consolidated revenue as follows (in thousands):
|  | Years Ended December, 31 |
Customer |  | 2020 |  |  | 2019 |  |  | 2018 |
A |  | $ | 37,986 |  |  | $ | 52,310 |  |  | * |
B |  |  | 77,342 |  |  |  | 39,897 |  |  | * |
C |  | * |  |  |  | 36,175 |  |  |  | 49,123 |
D |  | * |  |  |  | 34,448 |  |  | * |
E |  | * |  |  | * |  |  |  | 25,873 |
F |  | * |  |  | * |  |  |  | 23,279 |
G |  | * |  |  | * |  |  | * |
| * | The customer revenue was less than 10% of consolidated revenue for the year.

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