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Supplemental Consolidated Financial Statement Information

12 Months Ended

Dec. 31, 2021

Supplemental Consolidated Financial Statement Information

Supplemental Consolidated Financial Statement Information

5.           Supplemental Consolidated Financial Statement Information

The activity in the allowance for doubtful accounts (in thousands) for the years ended December 31, 2021 and 2020 was as follows:

​

​	​	​	​	​	​	​
​	​	Year Ended December 31,
​		​	2021	​	2020
Beginning balance	​	$	(250)	​	$	(250)
Additional provisions to allowance	​	​	—	​	​	(1,625)
Write-offs against allowance - A/R	​	​	—	​	​	191
Write-offs against allowance - N/R	​	​	—		​	1,434
Recoveries collected	​	​	—		​	—
Ending balance	​	$	(250)	​	$	(250)

​

Other current liabilities (in thousands) consist of the following at December 31, 2021 and 2020:

​	​	​	​	​	​	​
​	​	December 31,
​		2021			2020
Accrued self-insurance reserves	​	$	599	​	$	851
Other accrued expenses and current liabilities	​		739	​		960
Other current liabilities	​	$	1,338	​	$	1,811

​

Disaggregated Revenues

The Company has one line of business, acquiring and processing seismic data in North America. Our chief operating decision maker (President and CEO) 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:

​

​	​	​	​	​	​	​
​	​	Year Ended December 31,
​		​	2021	​	​	2020
Operating Revenues	​	​	​	​	​	​
United States	​	$	17,772	​	$	73,983
Canada	​	​	6,923	​	​	12,117
Total	​	$	24,695	​	$	86,100

​

Deferred Costs (in thousands)

Deferred costs were $1,847 and $2,525 at January 1, 2021 and 2020, respectively. The Company’s prepaid expenses and other current assets at December 31, 2021 and 2020 included deferred costs incurred to fulfill contracts with customers of $972 and $1,847, respectively.

Deferred costs at December 31, 2021 compared to January 1, 2021 and at December 31, 2020 compared to January 1, 2020 decreased primarily as a result of the completion of several projects for clients with significant deferred fulfillment costs at the beginning of each of the years.

The amount of total deferred costs amortized for the years ended December 31, 2021 and 2020 was $6,563 and $16,130, respectively. There were no material impairment losses incurred during these periods.

Deferred Revenue (in thousands)

Deferred revenue was $1,779 and $3,481 at January 1, 2021 and 2020, respectively. The Company’s deferred revenue at December 31, 2021 and 2020 was $1,344 and $1,779, respectively.

Deferred revenue at December 31, 2021 compared to January 1, 2021 and at December 31, 2020 compared to January 1, 2020 decreased primarily as a result of completing multiple large projects for clients throughout each of the years.

Revenue recognized for the year ended December 31, 2021 that was included in the contract liability balance at the beginning of 2021 was $1,779. Revenue recognized for the year ended December 31, 2020 that was included in the contract liability balance at the beginning of 2020 was $3,476.

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- Definition

The entire disclosure for supplemental balance sheet disclosures, including descriptions and amounts for assets, liabilities, and equity.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-URI http://asc.fasb.org/topic&trid=2122208

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