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SUPPLEMENTAL CONSOLIDATED FINANCIAL STATEMENT INFORMATION

6 Months Ended

Jun. 30, 2020

SUPPLEMENTAL CONSOLIDATED FINANCIAL STATEMENT INFORMATION

SUPPLEMENTAL CONSOLIDATED FINANCIAL STATEMENT INFORMATION

4. SUPPLEMENTAL CONSOLIDATED FINANCIAL STATEMENT INFORMATION

Disaggregated Revenues

The Company has one line of business, acquiring and processing seismic data in North America. Our chief operating decision maker (President, Chief Executive Officer and Chairman of the Board) makes operating decisions and assesses performance based on the Company as a whole. Accordingly, the Company is considered to be in a single reportable segment. The following table presents the Company’s operating revenues (unaudited and in thousands) disaggregated by geographic region:


	Three Months Ended June 30,				Six Months Ended June 30,
	2020		2019			2020	2019
Operating Revenues
United States	$	29,482	$	22,046	$	56,670	$	59,682
Canada		17		2,030		11,808		15,558
Total	$	29,499	$	24,076	$	68,478	$	75,240

Deferred Costs (in thousands)

The opening balance of deferred cost was $2,525 and $6,994 at January 1, 2020 and 2019, respectively. The Company’s prepaid expenses and other current assets at June 30, 2020 and 2019 included deferred costs incurred to fulfill contracts with customers of $878 and $4,590, respectively.

Deferred costs at June 30, 2020 compared to January 1, 2020 and at June 30, 2019 compared to January 1, 2019 decreased primarily as a result of the completion of several projects during those six month periods that had significant deferred fulfillment costs at January 1, 2020 and 2019, respectively.

The amount of total deferred costs amortized for the three and six months ended June 30, 2020 was $5,499 and $10,895, respectively. The amount of total deferred costs amortized for the three and six months ended June 30, 2019 was $7,542 and $20,447, respectively. There were no material impairment losses incurred during these periods.

Deferred Revenue (in thousands)

The opening balance of deferred revenue was $3,481 and $10,501 at January 1, 2020 and 2019, respectively. The Company’s deferred revenue at June 30, 2020 and 2019 was $1,159 and $8,538, respectively.

Deferred revenue at June 30, 2020 compared to January 1, 2020 and at June 30, 2019 compared to January 1, 2019 decreased primarily as a result of completing projects for clients with large prepayments for third party reimbursables.

Revenue recognized for the three and six months ended July 30, 2020 that was included in the contract liability balance at the beginning of 2020 was $254 and $3,347, respectively. Revenue recognized for the three and six months ended July 30, 2019 that was included in the contract liability balance at the beginning of 2019 was $1,284 and $8,177, respectively.