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Revenue, Contract Assets and Liabilities and Other Contract Matters (Tables) | 3 Months Ended
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Mar. 31, 2022
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 the three months ended March 31, 2022 and 2021 (in thousands):
|  | Three Months Ended March 31, 2022 |
|  | Services |  |  | Fabrication |  |  | Shipyard |  |  | Eliminations |  |  | Total |
Fixed-price and unit-rate(1) |  | $ | 1,609 |  |  | $ | 5,044 |  |  | $ | 2,497 |  |  | $ | (1 | ) |  | $ | 9,149 |
T&M(2) |  |  | 18,463 |  |  |  | 573 |  |  |  | — |  |  |  | — |  |  |  | 19,036 |
Other |  |  | 592 |  |  |  | — |  |  |  | — |  |  |  | (91 | ) |  |  | 501 |
Total |  | $ | 20,664 |  |  | $ | 5,617 |  |  | $ | 2,497 |  |  | $ | (92 | ) |  | $ | 28,686 |
|  | Three Months Ended March 31, 2021 |
|  | Services |  |  | Fabrication |  |  | Shipyard |  |  | Eliminations |  |  | Total |
Fixed-price and unit-rate(1) |  | $ | 321 |  |  | $ | 11,018 |  |  | $ | 5,130 |  |  | $ | (190 | ) |  | $ | 16,279 |
T&M(2) |  |  | 5,551 |  |  |  | 718 |  |  |  | — |  |  |  | — |  |  |  | 6,269 |
Other |  |  | 1,634 |  |  |  | — |  |  |  | — |  |  |  | (397 | ) |  |  | 1,237 |
Total |  | $ | 7,506 |  |  | $ | 11,736 |  |  | $ | 5,130 |  |  | $ | (587 | ) |  | $ | 23,785 |
| (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.
Summary of Remaining Performance Obligation by Operating Segment | The following table summarizes our remaining performance obligations by operating segment at March 31, 2022 (in thousands):
|  | Performance Obligations |
Services |  | $ | 1,237 |
Fabrication |  |  | 7,027 |
Shipyard |  |  | 7,611 |
Total |  | $ | 15,875 |
Summary of Contract with Customer, Asset and Liability | Information with respect to contracts that were incomplete at March 31, 2022 and December 31, 2021, is as follows (in thousands):
|  | March 31, |  |  | December 31, |
|  | 2022 |  |  | 2021 |
Contract assets(1), (2) |  | $ | 2,694 |  |  | $ | 4,759 |
Contract liabilities(3), (4), (5) |  |  | (4,198 | ) |  |  | (6,648 | )
Contracts in progress, net |  | $ | (1,504 | ) |  | $ | (1,889 | )
| (1) | The decrease in contract assets compared to December 31, 2021, was primarily due to decreased unbilled positions on various projects within our Fabrication Division.
| (2) | Contract assets at March 31, 2022 and December 31, 2021, excludes $4.3 million and $2.3 million, respectively, associated with revenue recognized in excess of amounts billed for which we have an unconditional right to the consideration. Such amounts are reflected within contract receivables.
| (3) | The decrease in contract liabilities compared to December 31, 2021, was primarily due to a decrease in accrued contract losses and the unwind of advance payments on our forty-vehicle ferry projects within our Shipyard Division.
| (4) | Revenue recognized during the three months ended March 31, 2022 and 2021, related to amounts included in our contract liabilities balance at December 31, 2021 and 2020, was $2.1 million and $1.8 million, respectively.
| (5) | Contract liabilities at March 31, 2022 and December 31, 2021, includes accrued contract losses of $2.9 million and $3.9 million, respectively. See “Changes in Project Estimates” below for further discussion of our accrued contract losses.

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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 -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130551-203045 + 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 -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130545-203045 + Details
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- Definition Tabular disclosure of expected timing for satisfying remaining performance obligation. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (b)(1) -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130556-203045 + Details
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