XML 42 R31.htm IDEA: XBRL DOCUMENT

Business Segment Information (Tables)

6 Months Ended

Jun. 30, 2021

Schedule of financial data by reportable segment

Certain financial data by reportable segment are summarized as follows (in thousands):


	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2021		2020		2021		2020
Net revenues —
Well Intervention	$	132,305	$	145,841	$	266,073	$	286,493
Robotics		31,651		50,836		53,807		86,094
Production Facilities		14,218		13,593		30,665		29,134
Intercompany eliminations		(16,233)		(11,123)		(25,189)		(21,553)
Total	$	161,941	$	199,147	$	325,356	$	380,168

Income (loss) from operations —
Well Intervention	$	(6,719)	$	11,758	$	(1,476)	$	6,066
Robotics		255		7,781		(2,679)		4,957
Production Facilities		4,682		3,365		11,196		7,008
Segment operating income (loss)		(1,782)		22,904		7,041		18,031
Goodwill impairment ⁽¹⁾		—		—		—		(6,689)
Corporate, eliminations and other		(9,159)		(8,710)		(18,537)		(18,175)
Total	$	(10,941)	$	14,194	$	(11,496)	$	(6,833)

(1)

As a result of the decline in oil prices as well as energy and energy services valuations during the first quarter 2020 due to the COVID-19 pandemic and the price war among members of the Organization of Petroleum Exporting Countries (“OPEC”) and other non-OPEC producer nations (collectively with OPEC members, “OPEC+”), we impaired all of our goodwill, which consisted entirely of goodwill attributable to the acquisition of a controlling interest in STL.

Schedule of intercompany segment revenues

Intercompany segment revenues are as follows (in thousands):


	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2021		2020		2021		2020
Well Intervention	$	10,206	$	3,910	$	12,793	$	7,214
Robotics		6,027		7,213		12,396		14,339
Total	$	16,233	$	11,123	$	25,189	$	21,553

Schedule of total assets by reportable segment

The following table reflects total assets by reportable segment (in thousands):


	June 30,		December 31,
	2021		2020
Well Intervention	$	2,084,665	$	2,134,081
Robotics		101,121		132,550
Production Facilities		125,863		129,773
Corporate and other		106,058		101,874
Total	$	2,417,707	$	2,498,278