Segment Information

12 Months Ended

Dec. 31, 2021

Segment Reporting [Abstract]

Segment Information

18.Segment Information

The Company currently operates in two reportable segments: marine and concrete. The Company’s financial reporting systems present various data for management to run the business, including profit and loss statements prepared according to the segments presented. Management uses operating income to evaluate performance between the two segments. Segment information for the periods presented is provided as follows:

	Year Ended December 31,
	2021		2020		2019
Marine
Contract revenues	$	263,915	$	388,173	$	369,138
Operating income		5,760		29,815		12,841
Depreciation and amortization expense		(17,287)		(18,369)		(19,889)
Total assets	$	236,773	$	290,372
Property and equipment, net		93,383		109,298
Concrete
Contract revenues	$	337,445	$	321,769	$	339,252
Operating income		(15,077)		(3,229)		(10,648)
Depreciation and amortization expense		(8,143)		(8,848)		(8,519)
Total assets	$	114,977	$	123,817
Property and equipment, net		13,271		16,199

In connection with the preparation of the financial statements for the year ended December 31, 2021, the Company has identified and corrected certain immaterial errors in segment reporting for all periods presented. Specifically, certain corporate overhead costs previously recorded to the marine segment as part of operating income (loss) and allocated from the marine segment to the concrete segment below operating income in the other income (expense) line have been allocated from the marine segment to the concrete segment as part of the determination of operating income for each segment. These corrections resulted in an offsetting change in operating income (loss) for each segment of $12.9 million and $11.8 million for the years ended December 31, 2020 and December 31, 2019, respectively.

There was less than $0.1 million in intersegment revenues between the Company’s two reportable segments for the year ended December 31, 2021. There were $2.8 million in intersegment revenues between the Company’s two reportable segments for the year ended December 31, 2020. The marine segment had foreign revenues of $2.9 million and $12.5. million, respectively, for the years ended December 31, 2021 and 2020. These revenues are derived from projects in the Caribbean Basin and Mexico and are paid primarily in U.S. dollars. There was no foreign revenue for the concrete segment.