XML 35 R24.htm IDEA: XBRL DOCUMENT v3.19.2
Revenue from Contracts with Customers (Tables)
6 Months Ended
Jun. 30, 2019
Revenue from Contract with Customer [Abstract]  
Disaggregation of Revenue
The following table summarizes revenues from our contracts disaggregated by revenue generating activity contained therein for the three and six months ended June 30, 2019 and 2018:
 
Three Months Ended June 30,
 
Six Months Ended June 30,
(in thousands)
2019
 
2018
 
2019
 
2018
Dayrate drilling
$
48,133

 
$
24,447

 
$
104,584

 
$
48,224

Mobilization
1,177

 
271

 
2,437

 
730

Reimbursables
2,950

 
1,002

 
4,554

 
2,233

Early termination
501

 

 
501

 

Capital modification
62

 
34

 
72

 
194

Intangible
46

 

 
1,079

 

Other
10

 

 
10

 

Total revenue
$
52,879

 
$
25,754

 
$
113,237

 
$
51,381

Summary of Contract with Customer, Asset and Liability
Significant changes in contract assets and contract liabilities balances during the period are as follows:
 
Three Months Ended 
 June 30, 2019
 
Six Months Ended 
 June 30, 2019
(in thousands)
Contract Assets
 
Contract Liabilities
 
Contract Assets
 
Contract Liabilities
Revenue recognized that was included in contract liabilities at beginning of period
$

 
$
574

 
$

 
$
1,305

Increase in contract liabilities due to cash received, excluding amounts recognized as revenue
$

 
$
(500
)
 
$

 
$
(661
)
Transferred to receivables from contract assets at beginning of period
$

 
$

 
$

 
$

The following table provides information about receivables, contract assets and contract liabilities related to contracts with customers:
(in thousands)
June 30, 2019
 
December 31, 2018
Receivables, which are included in “Accounts receivable, net”
$
35,670

 
$
41,987

Contract assets
$

 
$

Contract liabilities
$
(730
)
 
$
(1,374
)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction
The following table includes estimated revenue expected to be recognized in the future related to performance obligations that are unsatisfied (or partially unsatisfied) as of June 30, 2019. The estimated revenue does not include amounts of variable consideration that are constrained.
 
Year Ending December 31,
(in thousands)
2019
 
2020
 
2021
 
Total
Revenue
$
730

 
$

 
$

 
$
730