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Revenue Recognition
 6 Months Ended
Jun. 30, 2022
Revenue from Contract with Customer [Abstract]  
Revenue Recognition REVENUE RECOGNITIONWe recognize revenues when the transfer of promised goods or services are delivered to our customers in accordance with the applicable customer contract and we are entitled to be paid by the customer. Revenues are measured as consideration specified in the contract. Amounts are billed upon completion of service or transfer of a product and are generally due within 30 days.
LNG Segment
Revenues from contracts with customers within our LNG Segment are disaggregated into (1) LNG product (2) rental, service, and (3) other.
LNG product revenue generated includes the revenue from the product and delivery of LNG to our customer’s location. Product revenue is recognized upon delivery of the related item to the customer, at which point the customer controls the product and the Company has an unconditional right to payment. Product contracts are established by agreeing on a sales price or transaction price for the related item. Revenue is recognized when the customer has taken control of the product. Payment terms for product contracts are generally within thirty days from the receipt of the invoice. The Company acts as a principal when using third party transportation companies and therefore recognizes the gross revenue for the delivery of LNG.
Rental, service and other revenue generated by the Company includes equipment and human resources provided to the customer to support the use of LNG and power delivery equipment and services in their application. Rental contracts are established by agreeing on a rental price or transaction price for the related piece of equipment and the rental period which is generally daily or monthly. The Company maintains control of the equipment that the customer uses and can replace the rented equipment with similar equipment should the rented equipment become inoperable or the Company chooses to replace the equipment for maintenance purposes. Revenue is recognized as the rental period is completed and for periods that cross month end, revenue is recognized for the portion of the rental period that has been completed to date. Payment terms for rental contracts are generally within thirty days from the receipt of the invoice. Performance obligations for rental revenue are considered to be satisfied as the rental period is completed based upon the terms of the related contract. LNG service revenue generated by the Company consists of mobilization and demobilization of equipment and onsite technical support while customers are consuming LNG in their applications. Service revenue is billed based on contractual terms that can be based on an event (i.e. mobilization or demobilization) or an hourly rate. Revenue is recognized as the event is completed or work is done. Performance obligations for service revenue are considered to be satisfied as the event is completed or work is done per the terms of the related contract.
Power Delivery Segment
Power Delivery revenue is generated from time and material projects and consulting services. Revenue is billed based on contractual terms that can be based on an event or an hourly rate. Revenue is recognized as the event is completed or work is done over time. Performance obligations for service revenue are considered to be satisfied as the event is completed or work is done per the terms of the related contract and are generally due within thirty days from the receipt of the invoice.
Disaggregated Revenues
The table below presents revenue disaggregated by source, for the three and six months ended June 30, 2022 and 2021 (in thousands):
Three Months Ended
June 30,		Six Months Ended
June 30,
Revenues:2022202120222021
LNG Product$20,336 $11,812 $37,121 $23,507 
Rental and service2,742 2,321 6,123 5,950 
Power Delivery2,634 1,660 5,400 3,204 
Other173 1,055 173 1,055 
$25,784 $16,052 $48,817 $33,716 
The table below presents revenue disaggregated by geographic location, for the three and six months ended June 30, 2022 and 2021 (in thousands):
Three Months Ended
June 30, 2022		Six Months Ended
June 30,
Revenues:2022202120222021
Brazil$2,634 $1,660 $5,400 $3,204 
Mexico4,894 2,081 8,660 3,697 
United States18,256 12,311 34,757 26,815 
$25,784 $16,052 $48,817 $33,716 
See Note 3 below for additional disaggregation of revenue by segment.
Contract Assets and Liabilities
Revenue from certain of our contracts within our Power Delivery segment are recognized over time. Costs and estimated earnings recognized to date in excess of cumulative billings are recorded as contract assets and included within our prepaid expenses and other current assets in the accompanying Condensed Consolidated Financial Statements. The Company also recognizes contract liabilities upon receipt of payments for which the performance obligations have not been fulfilled at the reporting date. Contract liabilities are included in accrued liabilities in the accompanying Condensed Consolidated Balance Sheets. Amounts recognized into revenue for the three months ended June 30, 2022 and 2021 from contract liabilities existing at March 31, 2022 and 2021 was $0.2 million and $3 thousand, respectively. Amounts recognized into revenue for the six months ended June 30, 2022 and 2021 from contract liabilities existing at December 31, 2021 and December 31, 2020 was $0.3 million and $0.3 million, respectively.
The table below presents changes in the Company’s contract liability balance from December 31, 2021 to June 30, 2022 (in thousands):
June 30,
2022
Balance at December 31, 2021
$83 
Cash received, excluding amounts recognized as revenue2,729 
Amounts recognized as revenue(311)
Balance at June 30, 2022 (1)
$2,501 
_______________
(1)    Contract liabilities of $1.5 million are included within accrued liabilities (see Note 8) and contract liabilities of $1.0 million are included within other noncurrent liabilities on our Condensed Consolidated Balance Sheet at June 30, 2022. The classification between current and noncurrent liabilities is based upon when the contract liabilities are expected to be recognized into revenue.
The Company has no other material contract assets or liabilities and contract costs.