XML 20 R10.htm IDEA: XBRL DOCUMENT

SUPPLEMENTAL CONSOLIDATED FINANCIAL STATEMENT INFORMATION

6 Months Ended

Jun. 30, 2022

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 and Chief Executive Officer) 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,
	2022		2021			2022	2021
Operating Revenues
United States	$	422	$	193	$	7,605	$	8,977
Canada		499		—		11,675		2,964
Total	$	921	$	193	$	19,280	$	11,941

Deferred Costs (in thousands)

Deferred costs were $972 and $1,847 at January 1, 2022 and 2021, respectively. The Company’s prepaid expenses and other current assets at June 30, 2022 and 2021 included deferred costs incurred to fulfill contracts with customers of $382 and $92, respectively.

Deferred costs at June 30, 2022 compared to January 1, 2022 and at June 30, 2021 compared to January 1, 2021 decreased primarily as a result of the completion of several projects during those six month periods that had deferred fulfillment costs at January 1, 2022 and 2021, respectively.

The amount of total deferred costs amortized for the three and six months ended June 30, 2022 was $21 and $1,669, respectively. The amount of total deferred costs amortized for the three and six months ended June 30, 2021 was $85 and $3,907, respectively. There were no material impairment losses incurred during these periods.

Deferred Revenue (in thousands)

Deferred revenue was $1,344 and $1,779 at January 1, 2022 and 2021, respectively. The Company’s deferred revenue at June 30, 2022 and 2021 was $1,472 and $684, respectively.

Deferred revenue at June 30, 2022 compared to January 1, 2022 remained fairly consistent. Deferred revenue at June 30, 2021 compared to January 1, 2021 decreased primarily as a result of completing projects for clients with prepayments for third party reimbursables.

Revenue recognized for the three and six months ended June 30, 2022 that was included in the contract liability balance at the beginning of 2022 was $0 and $936, respectively. Revenue recognized for the three and six months ended June 30, 2021 that was included in the contract liability balance at the beginning of 2021 was $0 and $1,779, respectively.