Gulf Island Fabrication (GIFI) 10-K 5 Mar 20 2019 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2019	Mar. 05, 2020	Jun. 30, 2019
Cover [Abstract]
Document Type	10-K
Amendment Flag	false
Entity Small Business	true
Entity Emerging Growth Company	false
Document Period End Date	Dec. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	FY
Entity Registrant Name	GULF ISLAND FABRICATION INC
Entity Central Index Key	0001031623
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Shell Company	false
Entity Current Reporting Status	Yes
Entity Common Stock, Shares Outstanding		15,291,776
Entity Public Float			$ 94,818,654
Entity Interactive Data Current	Yes
Entity File Number	001-34279
Entity Tax Identification Number	72-1147390
Entity Address, Address Line One	16225 Park Ten Place
Entity Address, Address Line Two	Suite 300
Entity Address, City or Town	Houston
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	77084
City Area Code	713
Local Phone Number	714-6100
Document Annual Report	true
Document Transition Report	false
Entity Incorporation, State or Country Code	LA
Trading Symbol	GIFI
Title of 12(b) Security	Common Stock
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Documents Incorporated by Reference	DOCUMENTS INCORPORATED BY REFERENCE Portions of the registrant’s definitive Proxy Statement prepared for use in connection with the registrant’s 2020 Annual Meeting of Shareholders have been incorporated by reference into Part III of this Form 10-K.

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 49,703	$ 70,457
Short-term investments	19,918	8,720
Contracts receivable and retainage, net	26,095	22,505
Contract assets	52,128	29,982
Prepaid expenses and other assets	3,948	3,268
Inventory	2,676	6,088
Assets held for sale	9,006	18,935
Total current assets	163,474	159,955
Property, plant and equipment, net	70,484	79,930
Other noncurrent assets	18,819	18,405
Total assets	252,777	258,290
Current liabilities:
Accounts payable	61,542	28,969
Contract liabilities	26,271	16,845
Accrued expenses and other liabilities	10,031	10,287
Total current liabilities	97,844	56,101
Other noncurrent liabilities	2,248	1,089
Total liabilities	100,092	57,190
Shareholders’ equity:
Preferred stock, no par value, 5,000 shares authorized, no shares issued and outstanding
Common stock, no par value, 30,000 shares authorized, 15,263 issued and outstanding at December 31, 2019 and 15,090 at December 31, 2018	11,119	11,021
Additional paid-in capital	103,124	102,243
Retained earnings	38,442	87,836
Total shareholders’ equity	152,685	201,100
Total liabilities and shareholders’ equity	$ 252,777	$ 258,290

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2019	Dec. 31, 2018
Statement Of Financial Position [Abstract]
Preferred stock, no par value
Preferred stock, shares authorized (in shares)	5,000,000	5,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, no par value
Common stock, shares authorized (in shares)	30,000,000	30,000,000
Common stock, shares issued (in shares)	15,263,000	15,090,000
Common stock, shares outstanding (in shares)	15,263,000	15,090,000

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Statement [Abstract]
Revenue	$ 303,308	$ 221,247	$ 171,022
Cost of revenue	320,307	228,443	213,947
Gross loss	(16,999)	(7,196)	(42,925)
General and administrative expense	15,628	19,015	17,800
Impairments and (gain) loss on assets held for sale	17,528	(6,850)	7,931
Other (income) expense, net	(134)	304	(46)
Operating loss	(50,021)	(19,665)	(68,610)
Interest (expense) income, net	531	(142)	(349)
Net loss before income taxes	(49,490)	(19,807)	(68,959)
Income tax (expense) benefit	96	(571)	24,193
Net loss	$ (49,394)	$ (20,378)	$ (44,766)
Per share data:
Basic and diluted loss per common share	$ (3.24)	$ (1.36)	$ (3.02)
Cash dividends per common share			$ 0.04

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Retained Earnings
Beginning Balance at Dec. 31, 2016	$ 263,032	$ 10,641	$ 98,813	$ 153,578
Beginning Balance (in shares) at Dec. 31, 2016		14,695
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(44,766)			(44,766)
Vesting of restricted stock	(916)	$ (92)	(824)
Vesting of restricted stock (in shares)		215
Stock-based compensation expense	2,741	$ 274	2,467
Dividends on common stock	(598)			(598)
Ending Balance at Dec. 31, 2017	219,493	$ 10,823	100,456	108,214
Ending Balance (in shares) at Dec. 31, 2017		14,910
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(20,378)			(20,378)
Vesting of restricted stock	(810)	$ (81)	(729)
Vesting of restricted stock (in shares)		180
Stock-based compensation expense	2,795	$ 279	2,516
Ending Balance at Dec. 31, 2018	$ 201,100	$ 11,021	102,243	87,836
Ending Balance (in shares) at Dec. 31, 2018	15,090	15,090
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	$ (49,394)			(49,394)
Vesting of restricted stock	(795)	$ (79)	(716)
Vesting of restricted stock (in shares)		173
Stock-based compensation expense	1,774	$ 177	1,597
Ending Balance at Dec. 31, 2019	$ 152,685	$ 11,119	$ 103,124	$ 38,442
Ending Balance (in shares) at Dec. 31, 2019	15,263	15,263

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Cash flows from operating activities:
Net loss	$ (49,394,000)	$ (20,378,000)	$ (44,766,000)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and lease asset amortization	9,564,000	10,350,000	12,745,000
Other amortization, net	50,000	80,000	(1,844,000)
Bad debt expense	59,000	30,000	21,000
Asset impairments	17,223,000	4,445,000	7,672,000
(Gain) loss on assets held for sale, net	(369,000)	(7,724,000)	259,000
Gain on insurance recoveries		(3,571,000)
(Gain) loss on sale of fixed assets and other assets, net	(584,000)	268,000	(35,000)
Deferred income taxes	(10,000)	200,000	(23,234,000)
Stock-based compensation expense	1,774,000	2,795,000	2,741,000
Changes in operating assets and liabilities:
Contracts receivable and retainage, net	(3,650,000)	2,962,000	(8,319,000)
Contract assets	(22,145,000)	(26,932,000)	(1,544,000)
Prepaid expenses, inventory and other current assets	2,556,000	(3,162,000)	782,000
Accounts payable	30,950,000	10,515,000	9,354,000
Contract liabilities	9,425,000	12,371,000	8,390,000
Accrued expenses and other liabilities	(1,099,000)	(3,352,000)	(3,177,000)
Noncurrent assets and liabilities, net (including long-term retainage)	(1,490,000)	711,000	1,570,000
Net cash used in operating activities	(7,140,000)	(20,392,000)	(39,385,000)
Cash flows from investing activities:
Purchases of short-term investments	(65,284,000)	(9,610,000)
Maturities of short-term investments	54,086,000	1,200,000
Capital expenditures	(3,790,000)	(3,481,000)	(4,834,000)
Proceeds from sale of property, plant and equipment	2,217,000	85,247,000	2,155,000
Recoveries from insurance claims		9,362,000	1,544,000
Net cash provided by (used in) investing activities	(12,771,000)	82,718,000	(1,135,000)
Cash flows from financing activities:
Proceeds from borrowings under Credit Agreement		15,000,000	2,000,000
Repayment of borrowings under Credit Agreement		(15,000,000)	(2,000,000)
Payment of financing cost	(48,000)	(42,000)	(150,000)
Tax payments for vested stock withholdings	(795,000)	(810,000)	(916,000)
Payments of dividends on common stock			(598,000)
Net cash used in financing activities	(843,000)	(852,000)	(1,664,000)
Net increase (decrease) in cash and cash equivalents	(20,754,000)	61,474,000	(42,184,000)
Cash and cash equivalents, beginning of period	70,457,000	8,983,000	51,167,000
Cash and cash equivalents, end of period	49,703,000	70,457,000	8,983,000
Supplemental cash flow information:
Interest paid	470,000	352,000	349,000
Income taxes paid (refunds received), net	63,000	6,000	189,000
Reclassification of property, plant and equipment to assets held for sale	294,000		$ 109,488,000
Reclassification of assets held for sale to property, plant and equipment	$ 1,162,000	866,000
Reclassification of accrued expenses to assets held for sale		$ 3,245,000

ORGANIZATION AND SUMMARY OF SIG

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2019
Organization Consolidation And Presentation Of Financial Statements [Abstract]
ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	1. ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Nature of Operations Gulf Island Fabrication, Inc. (together with its subsidiaries, “Gulf Island,” "the Company," "we," "us" and "our") is a leading fabricator of complex steel structures, modules and marine vessels, and a provider of project management, hookup, commissioning, repair, maintenance and civil construction services. Our customers include United States ("U.S.") and, to a lesser extent, international energy producers; refining, petrochemical, LNG, industrial, power and marine operators; EPC companies; and certain agencies of the U.S. government. We operate and manage our business through three operating divisions ("Fabrication", "Shipyard" and "Services") and one non-operating division ("Corporate"), which represent our reportable segments. Our corporate headquarters is located in Houston, Texas, with operating facilities located in Houma, Jennings and Lake Charles, Louisiana. See Note 3 for discussion of our anticipated closure of the Jennings Yard. Significant projects in our backlog include the expansion of a paddle wheel riverboat; the fabrication of an offshore jacket and deck and modules for an offshore facility; material supply for an offshore jacket and deck; and construction of four harbor tug vessels, three regional class research vessels, three vehicle ferries, an ice-breaker tug, and three towing, salvage and rescue ships. Projects completed in recent years include the fabrication of petrochemical modules and a meteorological tower and platform for an offshore wind project and construction of two technologically-advanced OSVs, six harbor tug vessels and two towboats. Other completed projects include the fabrication of wind turbine foundations for the first offshore wind project in the U.S., and construction of two of the largest liftboats servicing the Gulf of Mexico ("GOM"), one of the deepest production jackets in the GOM, and the first single point anchor reservoir ("SPAR") hull fabricated in the U.S. Basis of Presentation The accompanying Consolidated Financial Statements ("Financial Statements") reflect all wholly owned subsidiaries. Intercompany balances and transactions have been eliminated in consolidation. The Financial Statements have been prepared in accordance with the rules and regulations of the U.S. Securities and Exchange Commission (the "SEC") and accounting principles generally accepted in the U.S. ("GAAP"). Liquidity Outlook In recent years our operating results and cash flows have been impacted by lower margins due to competitive pricing, a significant underutilization of our facilities and losses on certain projects. As a result, we implemented initiatives to improve and maintain our liquidity, reduce our reliance on the fabrication of structures and marine vessels associated with the offshore oil and gas sector, improve our resource utilization and centralize our key project resources, and improve our competitiveness and project execution. These initiatives are ongoing, and while we can provide no assurances that the initiatives will achieve our desired results, Operating Cycle The durations of our contracts vary, but typically extend beyond twelve months from the date of contract award. Consistent with industry practice, assets and liabilities have been classified as current under the operating cycle concept whereby all contract-related items are classified as current regardless of whether cash will be received or paid within a twelve-month period. Assets and liabilities classified as current which may not be received or paid within the next twelve months include contract retainage, contract assets, deferred revenue and contract liabilities. Variations from normal contract terms may result in the classification of assets and liabilities as long-term. Use of Estimates The preparation of our Financial Statements in conformity with GAAP requires us to make estimates and judgments that affect the reported amounts of assets, liabilities, revenue and expenses and related disclosures of contingent assets and liabilities. We believe our most significant estimates and judgments are associated with revenue recognition for our contracts, including application of the percentage-of-completion method, estimating costs to complete each contract and the recognition of incentives, unapproved change orders, claims, and liquidated damages; fair value and recoverability assessments that must be periodically performed with respect to long-lived assets and our assets held for sale; determination of deferred income tax assets, liabilities and related valuation allowances; reserves for bad debts; and liabilities related to self-insurance programs. If the underlying estimates and assumptions upon which our Financial Statements are based change in the future, actual amounts may differ materially from those included in the Financial Statements. Loss Per Share Basic loss per share ("EPS") is calculated by dividing net loss by the weighted average number of common shares outstanding for the period. Diluted EPS reflects the assumed conversion of dilutive securities. See Note 9 for calculations of our basic and diluted EPS. Cash Equivalents and Short-term Investments Cash Equivalents - We consider investments with original maturities of three months or less when purchased to be cash equivalents. Short-term Investments - We consider investments with original maturities of more than three months but less than twelve months to be short-term investments. At December 31, 2019, our short-term investments include U.S. Treasuries with original maturities of less than six months. We intend to hold these investments until maturity and it is not more likely than not that we would be required to sell the investments prior to their maturity. The investments are stated at amortized costs, which approximates fair value due to their near-term maturities. All short-term investments are traded on active markets with quoted prices and represent level 1 fair value measurements. Inventory Inventory is recorded at the lower of cost or net realizable value determined using the first-in-first-out basis. The cost of inventory includes acquisition costs, production or conversion costs, and other costs incurred to bring the inventory to a current location and condition. Net realizable value is our estimated selling price in the normal course of business, less reasonably predictable costs of completion, disposal and transportation. An allowance for excess or inactive inventory is recorded based on an analysis that considers current inventory levels, historical usage patterns, estimates of future sales and salvage value. See Note 3 for further discussion of our inventory impairments. Allowance for Doubtful Accounts In the normal course of business we extend credit to our customers on a short-term basis and contract receivables are generally not collateralized; however, we typically have the right to place liens on our projects in the event of nonpayment by our customers. We routinely review individual contract receivable balances for collectibility and make provisions for probable uncollectible amounts as necessary. Among the factors considered in our review are the financial condition of our customer and its access to financing, underlying disputes with the customer, the age and value of the receivable balance, and economic conditions in general. See Note 2 for further discussion of our allowance for doubtful accounts. Stock-Based Compensation Awards under our stock-based compensation plans are calculated using a fair value-based measurement method. We use the straight-line method to recognize share-based compensation expense over the requisite service period of the award. We recognize the excess tax benefit or tax deficiency resulting from the difference between the deduction we receive for tax purposes and the stock-based compensation expense we recognize for financial reporting purposes created when common stock vests, as an income tax benefit or expense on our Consolidated Statements of Operations (“Statement of Operations”). See Note 7 for further discussion of our stock-based and other compensation plans. Tax payments made on behalf of employees to taxing authorities in order to satisfy employee income tax withholding obligations from the vesting of shares under our stock-based compensation plans are classified as a financing activity on our Consolidated Statements of Cash Flows ("Statement of Cash Flows"). Assets Held for Sale Assets held for sale are measured at the lower of their carrying amount or fair value less cost to sell. See Note 3 for further discussion of our assets held for sale. Depreciation Expense We depreciate property, plant and equipment on a straight-line basis over estimated useful lives ranging from three to 25 years. Ordinary maintenance and repairs, which do not extend the physical or economic lives of the plant or equipment, are charged to expense as incurred. See Note 4 for further discussion of our property, plant and equipment. Long-Lived Assets We review long-lived assets for impairment, which include property, plant and equipment and our lease assets included within other noncurrent assets, when events or changes in circumstances indicate that the carrying amount may not be recoverable. If a recoverability assessment is required, the estimated future undiscounted cash flow associated with the asset or asset group is compared to its carrying amount to determine if an impairment exists. An asset group constitutes the minimum level for which identifiable cash flows are principally independent of the cash flows of other assets or asset groups. An impairment loss is measured by comparing the fair value of the asset or asset group to its carrying amount and recording the excess of the carrying amount of the asset or asset group over its fair value as an impairment charge. Fair value is determined based on discounted cash flows, appraised values or third-party indications of value, as appropriate. See Note 3 for further discussion of impairments of our long-lived assets. Fair Value Measurements Our fair value determinations for financial assets and liabilities are based on the particular facts and circumstances. Financial instruments are required to be categorized within a valuation hierarchy based upon the lowest level of input that is significant to the fair value measurement. The three levels of the valuation hierarchy are as follows: • Level 1 - inputs are based upon quoted prices for identical instruments traded in active markets. • Level 2 - inputs are based upon quoted prices for similar instruments in active markets and model-based valuation techniques for which all significant assumptions are observable in the market. • Level 3 - inputs are based upon model-based valuation techniques for which significant assumptions are generally not observable in the market and typically reflect estimates and assumptions that we believe market participants would use in pricing the asset or liability. These include discounted cash flow models and similar valuation techniques. The carrying amounts of our financial instruments, including cash and cash equivalents, short-term investments, accounts receivable and accounts payable approximate their fair values. See Note 3 for discussion of impairments of our inventory, long-lived assets and assets-held-for sale. Revenue Recognition General - Our revenue is derived from customer contracts and agreements that are awarded on a competitively bid and negotiated basis using a range of contracting options, including fixed-price, unit-rate and T&M. Our contracts primarily relate to the fabrication and construction of steel structures, modules and marine vessels, and project management services and other service arrangements. We recognize revenue for our contracts in accordance with Accounting Standards Update ("ASU") 2014-09, Topic 606 “Revenue from Contracts with Customers” ("Topic 606"), which was adopted by us on January 1, 2018, and supersedes previous revenue recognition guidance, including industry-specific guidance. Accordingly, the reported results for 2019 and 2018 reflect the application of Topic 606 guidance, while the comparable results for 2017 were prepared under previous revenue recognition guidance. The impact of our adoption of Topic 606 was not material to our Financial Statements. Accordingly, no cumulative effect adjustment to retained earnings as of January 1, 2018 was recorded (based on the application of the modified retrospective method under Topic 606). Topic 606 requires entities to recognize revenue in a way that depicts the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. Additionally, provisions of Topic 606 specify which goods and services are distinct and represent separate performance obligations (representing the unit of account in Topic 606) within a contract and which goods and services (which could include multiple contracts or agreements) should be aggregated. In general, a performance obligation is a contractual obligation to construct and/or transfer a distinct good or service to a customer. The transaction price of a contract is allocated to each distinct performance obligation and recognized as revenue when, or as, the performance obligation is satisfied. Revenue for performance obligations satisfied over time are recognized as the work progresses. Revenue for performance obligations that do not meet the criteria for over time recognition are recognized at a point-in-time when a performance obligation is complete and a customer has obtained control of a promised asset. Fixed-Price and Unit-Rate Contracts - Revenue for our fixed-price and unit-rate contracts is recognized using the percentage-of-completion method based on contract costs incurred to date compared to total estimated contract costs (an input method). Contract costs include direct costs, such as materials and labor, and indirect costs attributable to contract activity. Material costs that are significant to a contract and do not reflect an accurate measure of project completion are excluded from the determination of our contract progress. Revenue for such materials is only recognized to the extent of costs incurred. Prior to our adoption of Topic 606, revenue for our fixed-price and unit-rate contracts was recognized using the percentage-of-completion method, based on the percentage of direct labor hours incurred to date compared to total estimated direct labor hours, and revenue for materials was recognized only to the extent of costs incurred. Revenue and gross profit for contracts accounted for using the percentage-of-completion method can be significantly affected by changes in estimated cost to complete such contracts. Significant estimates impacting the cost to complete a contract include: costs of engineering, materials, components, equipment, labor and subcontracts; labor productivity; schedule durations, including subcontractor and supplier progress; contract disputes, including claims; achievement of contractual performance requirements; and contingency, among others. Although our customers retain the right and ability to change, modify or discontinue further work at any stage of a contract, in the event our customers discontinue work, they are required to compensate us for the work performed to date. The cumulative impact of revisions in total cost estimates during the progress of work is reflected in the period in which these changes become known, including, to the extent required, the reversal of profit recognized in prior periods and the recognition of losses expected to be incurred on contracts. Due to the various estimates inherent in our contract accounting, actual results could differ from those estimates, which could result in material changes to our Financial Statements and related disclosures. See Note 2 for further discussion of projects with significant changes in estimated margins during 2019, 2018 and 2017, including projects in a significant loss position at December 31, 2019. T&M Contracts - Revenue for our T&M contracts is recognized at contracted rates when the work is performed, the costs are incurred and collection is reasonably assured. Our T&M contracts provide for labor and materials to be billed at rates specified within the contract. The consideration from the customer directly corresponds to the value of our performance completed at the time of invoicing. Our current revenue recognition method for T&M contracts is consistent with the method used prior to adoption of Topic 606. Variable Consideration - Revenue and gross profit for contracts can be significantly affected by variable consideration, which can be in the form of unapproved change orders, claims, incentives and liquidated damages that may not be resolved until the later stages of the contract or after the contract has been completed. We estimate variable consideration based on the amount we expect to be entitled and include estimated amounts in transaction price to the extent it is probable that a significant future reversal of cumulative revenue recognized will not occur or when we conclude that any significant uncertainty associated with the variable consideration is resolved. See Note 2 for further discussion of unapproved change orders, claims, incentives and liquidated damages. Additional Disclosures - Topic 606 also requires enhanced disclosures regarding the nature, amount, timing and uncertainty of revenues and cash flows from contracts with customers. See Note 2 for required disclosures under Topic 606. Pre-Contract Costs Pre-contract costs are generally charged to cost of revenue as incurred, but in certain cases their recognition may be deferred if specific probability criteria are met. At December 31, 2019 and 2018, we had no deferred pre-contract costs. Other (Income) Expense, Net Other (income) expense, net, generally represents (recoveries) provisions for bad debts, (gains) losses associated with the sale or disposition of property and equipment other than assets held for sale, and (income) expense associated with certain nonrecurring items. Income Taxes Income taxes have been provided using the liability method. Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes using enacted rates expected to be in effect during the year in which the differences are expected to reverse. Due to changing tax laws, significant judgment is required to estimate the effective tax rate expected to apply to tax differences that are expected to reverse in the future. A valuation allowance is provided to reserve for deferred tax assets ("DTA(s)") if, based upon the available evidence, it is more likely than not that some or all of the DTAs will not be realized. The realization of our DTAs depends on our ability to generate sufficient taxable income of the appropriate character and in the appropriate jurisdictions. Reserves for uncertain tax positions are recognized when we consider it more likely than not that additional tax will be due in excess of amounts reflected in our income tax returns, irrespective of whether or not we have received tax assessments. Interest and penalties on uncertain tax positions are recorded within income tax expense. See Note 6 for further discussion of our income taxes and DTAs. New Accounting Standards Leases - In the first quarter 2019, we adopted ASU 2016-02, “Leases,” which required us to record a lease liability on our Consolidated Balance Sheets (“Balance Sheet”) as of January 1, 2019 equal to the present value of our lease payments for leased assets, and record a lease asset on our Balance Sheet representing our right to use the underlying leased assets for all leases having an original term of longer than twelve months. In our adoption we elected the modified retrospective transition method, and accordingly, prior periods have not been restated and continue to be reported under the lease standard in effect during such periods. We also elected certain practical expedients provided by the new standard, including not recording an asset or liability for leases having a term of twelve months or less and not separating lease and non-lease components for our leases. Upon adoption of the standard we recorded operating lease assets and lease liabilities at January 1, 2019 associated with our long-term leases. The lease asset is reflected within other noncurrent assets, and the current and noncurrent portions of the lease liability are reflected within accrued expenses and other liabilities, and other noncurrent liabilities, respectively, on our Balance Sheet. For leases with escalations over the life of the lease, we recognize expense on a straight-line basis. See Note 4 for further discussion of our adoption of this standard and our lease assets and liabilities. Stock-based grants - In the first quarter 2019, we adopted ASU 2018-07, "Improvements to Non-employee Share-Based Payment Accounting," which simplifies the accounting for share-based payments granted to non-employees for goods and services. Under the new standard, most of the guidance for such payments to non-employees is now aligned with the requirements for share-based payments to employees. The adoption of the new standard did not have a material impact on our financial position, results of operations or related disclosures. Financial instruments - In June 2016, the FASB issued ASU 2016-13, which changes the way companies evaluate credit losses for most financial assets and certain other instruments. For trade and other receivables, short-term investments, loans and other instruments, entities will be required to use a new forward-looking “expected loss” model to evaluate impairment, potentially resulting in earlier recognition of allowances for losses. The new standard also requires enhanced disclosures, including the requirement to disclose the information used to track credit quality by year of origination for most financing receivables. ASU 2016-13 will be effective for us in the first quarter 2023. Early adoption of the new standard is permitted; however, we have not elected to early adopt the standard. The new standard is required to be applied using a cumulative-effect transition method. We are currently evaluating the effect that the new standard will have on our financial position, results of operations and related disclosures. Income taxes - In December 2019, the FASB issued ASU 2019-12 to simplify the accounting for income taxes by removing certain exceptions to the general principles and simplify areas such as franchise taxes, step-up in tax basis goodwill, separate entity financial statements and interim recognition of enacted tax laws or rate changes. The new standard will be effective for us in the first quarter 2021. We are currently evaluating the effect that the new standard will have on our financial position, results of operations and related disclosures.

REVENUE, CONTRACT ASSETS AND LI

REVENUE, CONTRACT ASSETS AND LIABILITIES AND OTHER CONTRACT MATTERS	12 Months Ended
	Dec. 31, 2019
Revenue From Contract With Customer [Abstract]
REVENUE, CONTRACT ASSETS AND LIABILITIES AND OTHER CONTRACT MATTERS	2. REVENUE, CONTRACT ASSETS AND LIABILITIES AND OTHER CONTRACT MATTERS As discussed in Note 1, we recognize revenue for our contracts in accordance with Topic 606. Summarized below are required disclosures under Topic 606 and other relevant guidance. Disaggregation of Revenue The following tables summarize revenue for each of our operating segments, disaggregated by contract type, for 2019, 2018 and 2017 (in thousands): 2019 Fabrication Shipyard Services Eliminations Total Contract Type Fixed-price and unit-rate (1) $ 70,052 $ 152,590 $ 30,147 $ (5,169 ) $ 247,620 T&M (2) — 6,627 41,014 — 47,641 Other — — 10,545 (2,498 ) 8,047 Total $ 70,052 $ 159,217 $ 81,706 $ (7,667 ) $ 303,308 2018 Fabrication Shipyard Services Eliminations Total Contract Type Fixed-price and unit-rate (1) $ 40,420 $ 88,887 $ 38,612 $ (2,414 ) $ 165,505 T&M (2) — 7,537 43,481 — 51,018 Other — — 6,137 (1,413 ) 4,724 Total $ 40,420 $ 96,424 $ 88,230 $ (3,827 ) $ 221,247 2017 Fabrication Shipyard Services Eliminations Total Contract Type Fixed-price and unit-rate (1) $ 58,078 $ 47,787 $ 28,465 $ (5,096 ) $ 129,234 T&M (2) — 4,912 35,180 — 40,092 Other — — 1,800 (104 ) 1,696 Total $ 58,078 $ 52,699 $ 65,445 $ (5,200 ) $ 171,022 (1) Revenue is recognized as the contract is progressed over time. (2) Revenue is recognized at contracted rates when the work is performed and costs are incurred. Future Performance Obligations Required Under Contracts The following table summarizes our remaining performance obligations by operating segment at December 31, 2019 (in thousands). Segment Performance Obligations Fabrication $ 50,145 Shipyard (1) 352,081 Services 13,212 Total $ 415,438 (1) Amount excludes approximately $21.9 million of remaining performance obligations related to contracts for the construction of two MPSVs that are subject to dispute pursuant to notices of termination from our customer. See Note 8 for further discussion of these contracts. We expect to recognize revenue for our remaining performance obligations at December 31, 2019, in the following periods (in thousands): Year Total 2020 $ 211,310 2021 108,252 2022 and beyond 95,876 Total $ 415,438 Contracts Assets and Liabilities Revenue recognition and customer invoicing for our fixed-price and unit-rate contracts may occur at different times. Revenue recognition is based upon our estimated percentage-of-completion as discussed in Note 1; however, customer invoicing is generally dependent upon predetermined billing terms, which could provide for customer payments in advance of performing the work, milestone billings based on the completion of certain phases of the work, or when services are provided. Revenue recognized in excess of amounts billed is reflected as contract assets on our Balance Sheet. Amounts billed in excess of revenue recognized, and accrued contract losses, are reflected as contract liabilities on our Balance Sheet. Information with respect to uncompleted contracts at December 31, 2019 and 2018 is as follows (in thousands): December 31, 2019 2018 Costs incurred on uncompleted contracts $ 386,932 $ 256,239 Estimated loss incurred to date (48,895 ) (35,470 ) Sub-total 338,037 220,769 Billings to date (295,136 ) (190,588 ) Deferred revenue (1) (4,592 ) (4,592 ) Total $ 38,309 $ 25,589 (1) Deferred revenue is included within other noncurrent assets as further discussed below. The above amounts are included within the following captions in our Balance Sheet at December 31, 2019 and 2018 (in thousands): December 31, 2019 2018 Contract assets $ 52,128 $ 29,982 Contract liabilities (1), (2), (3) (26,271 ) (16,845 ) Sub-total 25,857 13,137 Contract assets, noncurrent (1) 12,452 12,452 Total $ 38,309 $ 25,589 (1) The increase in contract liabilities compared to December 31, 2018, was primarily due to advance payments on a project in our Shipyard Division and three projects in our Fabrication Division and an increase in accrued contract losses, offset partially by the unwind of advance payments on a project in our Fabrication Division as a result of project progress. Contract assets, noncurrent at December 31, 2019 and 2018 consisted of our contract asset, accrued contract losses, and deferred revenue balances at the time of our customer’s purported termination of our two MPSV contracts. See Note 8 for further discussion of these contracts. (2) Revenue recognized during 2019 and 2018 related to amounts included in our contract liabilities balance at December 31, 2018 and 2017, was $14.3 million and $5.1 million, respectively. (3) Contract liabilities at December 31, 2019 and 2018, includes accrued contract losses of $6.4 million and $2.4 million, respectively. See "Project Changes in Estimates" below for further discussion of our accrued contract losses. Significant Customers We are not dependent on any one customer, and the revenue derived from each customer varies from year to year based on new project awards for each customer. However, for 2019, 2018 and 2017, certain customers individually accounted for 10% or more of our consolidated revenue as follows (in thousands): Customer 2019 2018 2017 A $ 52,310 * * B 39,897 * * C 36,175 49,123 21,781 D 34,448 * * E * 25,873 * F * 23,279 * G * * 44,724 * The customer revenue was less than 10% of consolidated revenue for the year. Allowance for Doubtful Accounts For 2019, 2018 and 2017, our provision for bad debts was $59,000, $30,000 and $21,000, respectively. Our provision for bad debts is included in other (income) expense, net on our Statement of Operations. Our allowance for doubtful accounts at December 31, 2019 and 2018 was $15,000 and $0.4 million, respectively. Variable Consideration For 2019, 2018 and 2017, we had no material amounts in revenue related to unapproved change orders, claims or incentives. However, at December 31, 2019 and 2018, certain projects reflected a reduction in contract price for liquidated damages of $12.9 million and $11.2 million, of which $11.2 million was recorded during 2017. Changes in Project Estimates Changes in Estimates for 2019 - For 2019, significant changes in estimated margins on projects negatively impacted our operating results by $17.2 million. The changes in estimates were associated with the following: Shipyard Division • Harbor Tug Projects : Increased forecast costs and forecast liquidated damages of $4.9 million for our harbor tug projects within our Shipyard Division, primarily associated with increased craft labor and subcontracted services costs and extensions of schedule. The impacts were primarily due to limitations in craft labor availability and the required use of contract labor in lieu of direct hire labor, the need to supplement and re-perform work for an under-performing paint subcontractor, higher than anticipated costs for paint scopes that were assumed by us from our paint subcontractor, higher cost estimates from our electrical and instrumentation subcontractor, our inability to achieve previously anticipated labor productivity improvements, and expectations of future labor productivity. The revised forecasts incorporate actual results realized from completion of the sixth vessel in the fourth quarter 2019 and progress achieved on the seventh vessel which was completed in February 2020. At December 31, 2019, the uncompleted vessels were at various stages of completion ranging from approximately 60% to 93% and are forecast to be completed at various dates ranging from the first quarter 2020 through the third quarter 2020. The projects were in a loss position at December 31, 2019 and our reserve for estimated losses was $1.6 million. If future craft labor productivity differs from our current estimates, we are unable to achieve our progress estimates, our schedules are further extended or the projects incur additional schedule liquidated damages, the projects would experience further losses. • Ice-Breaker Tug Project : Increased forecast costs of $1.5 million for our ice-breaker tug project within our Shipyard Division, primarily associated with increased craft labor and subcontracted services costs and extensions of schedule. The impacts were primarily due to incomplete and deficient subcontracted production engineering which resulted in construction rework and disruption and lower than anticipated craft labor productivity, higher cost estimates from our various subcontractors, difficulties encountered to launch the vessel, and anticipated higher costs to deliver the vessel. At December 31, 2019, the vessel was approximately 91% complete and is forecast to be completed in the first quarter 2020 and delivered in the second quarter 2020. The project was in a loss position at December 31, 2019 and our reserve for estimated losses was $0.1 million. If future craft labor productivity and subcontractor costs differ from our current estimates, we are unable to achieve our progress estimates, our schedule is further extended, or we experience further delays or additional costs to deliver the vessel, the project would experience further losses. • Research Vessel Projects : Reversal of $0.8 million of gross profit recognized prior to 2019 for our three research vessel projects within our Shipyard Division. The projects have experienced difficulties with subcontracted production engineering, due in part to vessel size constraints and complexities associated with vessel functionality, which has resulted in incomplete and deficient production engineering and construction delays, disruption and rework. As a result, we made a collective decision with our customer to delay construction activities on the projects until production engineering achieves a satisfactory level of completion to limit further impacts on construction, including disruption and rework. In addition, we have agreed to a change order with the customer that includes the following: - The replacement of the current subcontracted production engineering firm with a different engineering subcontractor that will be contracted directly by the customer; - Extensions of the schedule liquidated damages dates for the projects; and - Increases in project price for the contracts to account for the estimated cost impacts of the production engineering and construction delays. We are currently working collaboratively with the customer to identify opportunities to commence construction activities in advance of full completion of production engineering to minimize the schedule impacts to the projects. Based on our current forecast cost to complete the projects, the change order and collaborative nature of our discussions with the customer, we are not forecasting losses on the projects. However, due to uncertainties with respect to the timing of completion of production engineering and the potential impacts on our construction schedules and costs, as well as ongoing discussions with the customer, we are unable to reasonably estimate the amount of gross profit, if any, that will ultimately be realized on the projects. Accordingly, during the fourth quarter 2019 we reversed all previously recognized gross profit on the projects (including the reversal of $2.5 million of gross profit that was recognized prior to the fourth quarter 2019) and intend to only recognize revenue equal to costs on the projects until we are able to reasonably estimate the amount of gross profit, if any, expected to be realized on the projects. We anticipate being able to make such an estimate upon substantial completion of production engineering. If the projects experience further delays associated with production engineering or other matters, we are unable to achieve our progress estimates, our schedules are further extended, the projects incur schedule liquidated damages, future craft labor productivity and subcontractor costs differ from our current estimates, or we are unable to recover the costs of any of the aforementioned from our customer, the projects would experience losses. Fabrication Division • Forty-Vehicle Ferry Projects : Increased forecast costs and forecast liquidated damages of $5.1 million for our two, forty-vehicle ferry projects within our Fabrication Division, primarily associated with increased craft labor, subcontracted services and materials costs. The impacts were primarily due to greater than anticipated rework, lower than anticipated productivity experienced primarily during the fourth quarter 2019, and our expectations of future labor productivity. The revised forecasts incorporate actual results realized to date on the first vehicle ferry and actual results realized on similar projects in backlog. At December 31, 2019, the projects were approximately 28% and 53% complete and are forecast to be completed in the fourth quarter 2020. The projects were in a loss position at December 31, 2019 and our reserve for estimated losses was $3.0 million. If future craft labor productivity and subcontractor costs differ from our current estimates, we are unable to achieve our progress estimates, our schedules are further extended or the projects incur additional schedule liquidated damages, the projects would experience further losses. • Paddle Wheel River Boat Project : Increased forecast costs of $1.3 million for our paddle wheel river boat project within our Fabrication Division, primarily associated with increased craft labor costs. The impacts were primarily due to difficulties encountered in commissioning the vessel and the need to accelerate our schedule, including performing out of sequence work scopes, to enable subcontracted works scopes to commence and mitigate the schedule and cost impacts of delaying the subcontracted work scopes. At December 31, 2019, the project was approximately 88% complete and is forecast to be completed in the first quarter 2020. The project was in a loss position at December 31, 2019 and our reserve for estimated losses was $0.2 million. If future craft labor productivity and subcontractor costs differ from our current estimates, we are unable to achieve our progress estimates, our schedule is extended or the project incurs schedule liquidated damages, the project would experience further losses. • Jacket and Deck Project : Increased forecast costs and forecast liquidated damages of $2.0 million for our jacket and deck project within our Fabrication Division, primarily associated with increased subcontracted services costs and extensions of schedule. The impacts were primarily due to higher than anticipated cost estimates from our commissioning subcontractors and delays associated with customer related directives. We are disputing the scope of the commissioning responsibility with the customer and we believe the extensions of schedule and associated forecast liquidated damages are the result of the customer related directives. Accordingly, we are pursuing change orders from the customer to recover the increased forecast commissioning costs and to extend the schedule date for determination of liquidated damages. However, the customer is disputing the change orders, and accordingly, our forecast at December 31, 2019 does not reflect potential future benefits, if any, from any favorable resolution of the change orders. At December 31, 2019, the project was approximately 46% complete and is forecast to be completed in the third quarter 2020. The project was in a loss position at December 31, 2019 and our reserve for estimated losses was $1.1 million. If future craft labor productivity and subcontractor costs differ from our current estimates, we are unable to achieve our progress estimates, our schedules are further extended or the project incurs additional schedule liquidated damages, the project would experience further losses. Services Division • Subsea Components Project : Increased forecast costs and liquidated damages of $1.6 million for our subsea components project within our Services Division, primarily associated with increased craft labor, subcontracted services and materials costs and extensions of schedule. The impacts were primarily due to stringent welding procedure requirements and customer specifications which resulted in additional materials, craft labor, and subcontracted services and support. At December 31, 2019, the project was approximately 86% complete and is forecast to be completed in the first quarter 2020. The project was in a loss position at December 31, 2019 and our reserve for estimated losses was $0.2 million. If we continue to experience difficulties with the procedure requirements and specifications for the project or the schedule is further extended, the project would experience further losses. Changes in estimates for 2018 - For 2018, significant changes in estimated margins on projects negatively impacted our operating results by $9.1 million. The changes in estimates were associated with the following: • Petrochemical Modules Project : Increased forecast costs of $2.4 million for our petrochemical module project within our Fabrication Division, primarily associated with increased subcontracted services costs. The impacts were primarily due to higher cost estimates from our insulation and other subcontractors. The project was completed in 2018. • Harbor Tug Projects : Increased forecast costs and liquidated damages of $6.7 million for our harbor tug projects within our Shipyard Division, primarily associated with craft labor costs and extensions of schedule. The impacts were primarily due to lower than anticipated craft labor productivity related to pipe installation and testing. The projects were in a loss position at December 31, 2019 and 2018. See further discussion above for associated impacts for 2019. Changes in estimates for 2017 - For 2017, significant changes in estimated margins on projects negatively impacted our operating results by $34.5 million. The changes in estimates were associated with the following: • MPSV Projects : Increased forecast costs and liquidated damages for our two multi-purpose service vessels (“MPSV”) within our Shipyard Division. The impacts were primarily due to complexities related to the installation of the power and communications systems and reductions in price of $11.2 million for liquidated damages (representing the maximum amount of liquidated damages under the contracts) which are in dispute. The projects were in a loss position at December 31, 2019 and 2018. We are currently in a dispute with the customer regarding the two MPSV projects. As a result of our dispute and uncertainty with respect to the timing of resolution, all contract assets, accrued contract losses, and deferred revenue balances associated with the projects have been classified within other noncurrent assets, resulting in a net contract asset balance of $12.5 million for these projects within other noncurrent assets on our Balance Sheet at December 31, 2019 and 2018. See Note 8 for further discussion of the dispute. Other Project Matters Project Tariffs - Certain imported materials used, or forecast to be used, for our projects are currently subject to existing, new or increased tariffs or duties. We believe such amounts, if incurred, are recoverable from our customers under the contractual provisions of our contracts; however, we can provide no assurances that we will successfully recover such amounts. Other - At December 31, 2019 and 2018, other noncurrent assets on our Balance Sheet included $3.0 million of retention for a previously completed project in our Fabrication Division for the fabrication of petrochemical modules. This retention is billable to the customer upon expiration of the contractual warranty period, which is expected to occur in the second quarter 2020. In January 2020, the customer entered into a restructuring transaction through a prepackaged Chapter 11 process that is intended to enable the customer to fulfill its commitments to suppliers, including payment of our retention. However, the restructuring transaction, which is subject to court approval, could delay the timing of collection of the retention.

IMPAIRMENTS AND (GAIN) LOSS ON

IMPAIRMENTS AND (GAIN) LOSS ON ASSETS HELD FOR SALE	12 Months Ended
	Dec. 31, 2019
Assets Held For Sale Not Part Of Disposal Group [Abstract]
IMPAIRMENTS AND (GAIN) LOSS ON ASSETS HELD FOR SALE	3. IMPAIRMENTS AND (GAIN) LOSS ON ASSETS HELD FOR SALE Impairments and (gain) loss on assets held for sale – Impairments and (gain) loss on assets held for sale (“AHFS”) generally represents asset impairments, (gains) losses on the sale of assets held for sale and certain nonrecurring items. A summary for 2019, 2018 and 2017 is below: 2019 Impairments and (gain) loss on assets held for sale Fabrication Shipyard Services Corporate Total Impairments of AHFS $ 7,842 $ 324 $ — $ — $ 8,166 Impairments of assets removed from AHFS 1,060 — — — 1,060 Impairments of Jennings Yard assets — 4,578 — — 4,578 Impairments of Lake Charles Yard assets — 2,998 — — 2,998 Impairments of inventory and other assets 118 — 282 21 421 (Gain) loss on AHFS and other (369 ) 20 — 654 305 Total $ 8,651 $ 7,920 $ 282 $ 675 $ 17,528 • Impairments of AHFS – At December 31, 2019, our Fabrication Division assets held for sale totaled $9.0 million and primarily consisted of three 660-ton crawler cranes, two plate bending roll machines and a deck barge. The deck barge was classified as held for sale during the fourth quarter 2019. The crawler cranes and plate bending roll machines were classified as held for sale for all of 2019. During the fourth quarter 2019, we revised our estimates of fair value for the crawler cranes based on updated broker opinions of value and revised our estimates of fair value for the plate bending roll machines based on third party indications of value. Our revised estimates of fair value for these assets were lower than our previous estimates due to current market conditions, the limited interest received in the assets during the last twelve months, the specific use nature of the assets (and the size of the assets in the case of the cranes), and our expectation of a shorter marketing period due to concerns regarding future deterioration of the assets. As a result of the aforementioned, during 2019 we recorded impairments of $7.8 million for the crawler cranes and plate bending roll machines. During 2019, we also recorded impairments of $0.3 million associated with a drydock in our Shipyard Division that was held-for-sale and sold during the fourth quarter 2019 for proceeds of $0.6 million • Impairments of assets removed from AHFS – During the fourth quarter 2019, we determined that we no longer intended to sell a deck barge (separate from the aforementioned deck barge) and panel line equipment that was previously classified as held for sale, and the assets were reclassified as property, plant and equipment. In connection therewith, the assets were recorded at the lower of their fair value or net book value as if they had been depreciated while being classified as held for sale, which resulted impairments of $1.1 million during 2019 • Impairments of Jennings Yard assets – During the fourth quarter 2019, we reassessed our previous estimates of the future cashflows expected to be generated by our leased Jennings Yard. Our revised forecast gave consideration to recent operating losses experienced on our harbor tug projects in the Jennings Yard and our intention to close the facility upon completion of the harbor tug projects, which is forecast to occur during the third quarter 2020. Based on our revised forecast, we determined that the net book value of the Jennings Yard assets exceeded our estimates of future cashflows, which indicated that the assets were impaired. Our Jennings Yard assets primarily consist of a lease asset, non-moveable facility improvements and certain moveable equipment. We based our impairments of the lease asset and non-moveable facility improvements on our current expectation to abandon the facility upon completion of the harbor tugs, and we based our impairments of the moveable equipment on broker opinions of value for such assets. As a result of the aforementioned, we fully impaired the lease asset and non-moveable facility improvements and partially impaired the moveable equipment, which resulted in impairments of $4.6 million during 2019. We do not believe the anticipated closure of the Jennings Yard will impact our ability to operate our Shipyard Division and it does not qualify for discontinued operations presentation as we will continue to operate our Shipyard Division from our Lake Charles Yard and Houma Yards. See Note 4 for further discussion of our Jennings Yard lease • Impairments Lake Charles Yard assets - During the fourth quarter 2019, we reassessed our previous estimates of the future cashflows expected to be generated by our leased Lake Charles Yard. Our revised forecast gave consideration to previous and current under-utilization of the facility, our expectations of future work for the facility and the required future capital investment in the facility and its assets. Based on our revised forecast, we determined that the net book value of the Lake Charles Yard assets exceeded our estimates of future cashflows, which indicated that the assets were impaired. Our Lake Charles Yard assets primarily consist of a lease asset, non-moveable facility improvements, three drydocks and certain moveable equipment. We based our impairments of the lease asset and non-moveable facility improvements on our anticipated cashflows from such assets, and we based our impairments of the drydocks and moveable equipment on broker opinions of value for such assets. As a result of the aforementioned, we fully impaired the non-moveable facility improvements and partially impaired the lease asset, drydocks and moveable equipment, which resulted in impairments of $3.0 million during 2019. See Note 4 for further discussion of our Lake Charles Yard lease • Impairments of inventory and other assets - During the fourth quarter 2019, we abandoned certain inventory and fixed assets and recorded impairments of such assets. We determined our impairments of the assets based on scrap value estimates of fair value. As a result of the aforementioned, we recorded partial impairments of the inventory and fixed assets, which resulted in impairments of $0.4 million during 2019. 2018 Impairments and (gain) loss on assets held for sale Fabrication Shipyard Services Corporate Total Gain on sale of South Texas Properties, net $ (7,724 ) $ — $ — $ — $ (7,724 ) Impairments of AHFS 1,387 964 — — 2,351 Impairments of inventory and other assets 2,012 — 82 — 2,094 Gain from insurance proceeds (3,571 ) — — — (3,571 ) Total $ (7,896 ) $ 964 $ 82 $ — $ (6,850 ) • South Texas Properties and Gain on Sale of South Texas Properties, net - During 2017, we classified our fabrication yards and certain associated equipment in Ingleside, Texas ("Texas South Yard") and Aransas Pass, Texas ("Texas North Yard") (collectively, "South Texas Properties") as held for sale. During 2018, we completed the sale of portions of the South Texas Properties, which consisted of the following: - The sale of certain equipment prior to the sale of the South Texas Properties for proceeds of $1.3 million, and a loss of $0.3 million; - The sale of our Texas South Yard for $55.0 million, less selling costs of $1.2 million, for total net proceeds received during 2018 of $53.8 million and a gain of $3.9 million; and - The sale of our Texas North Yard for $28.0 million, less selling costs of $0.6 million, for total net proceeds of $27.4 million during 2018 and a gain of $4.1 million. Remaining equipment from the Texas North Yard totaling $18.8 million was not included in the Texas North Yard sale, of which $0.8 million was placed back in use and reclassified to property, plant and equipment, net and $18.0 million continued to be held for sale by our Fabrication Division at December 31, 2018. The assets held for sale primarily consisted of three 660-ton crawler cranes, a deck barge, two plate bending roll machines and panel line equipment, which were relocated to our facility in Houma, Louisiana. • Impairments of AHFS - During 2018, we recorded impairments of $1.4 million for certain equipment previously associated with the South Texas Properties prior to their sale, but not sold in connection with the Texas South Yard or Texas North Yard transactions. In addition, during 2018 we recorded an impairment of $1.0 million for a drydock that was held for sale by our Shipyard Division at December 31, 2017. Our impairments were based on our best estimate of the fair value of the assets. • Impairments of inventory and other assets – During 2018, we recorded impairments of $2.0 million for inventory in our Fabrication Division that was partially impaired during 2017 (see below) based on third party indications of value for the inventory, which reduced the carrying value of the inventory to its scrap value of $0.2 million. • Gain from insurance proceeds - During 2017, buildings and equipment located at our South Texas Properties were damaged by Hurricane Harvey, and in connection therewith, during 2017 we received $6.0 million of insurance proceeds as an initial payment from our insurance carriers - $1.3 million, recorded during 2017, which offset clean-up and repair related costs incurred directly related to the damage as a result of Hurricane Harvey, resulting in no net gain or loss, - $1.5 million recorded during 2017, which offset impairments of two buildings which were determined to be a total loss as a result of Hurricane Harvey, resulting in no net gain or loss; - $9.0 million, recorded during 2018, which offset impairments of property and equipment, primarily at our Texas North Yard, resulting in no net gain or loss. The impairments were based upon our best estimate of the decline in fair value of the asset group as a result of Hurricane Harvey; and - $3.6 million gain recorded during 2018. 2017 Impairments and (gain) loss on assets held for sale Fabrication Shipyard Services Corporate Total Impairments of AHFS $ — $ 989 $ — $ — $ 989 Impairments of inventory and other assets 6,683 — — — 6,683 Other — 259 — — 259 Total $ 6,683 $ 1,248 $ — $ — $ 7,931 • Impairments of AHFS – During 2017, we recorded impairments of $1.0 million associated with three drydocks in Shipyard Division. Two of the drydocks were sold during 2017 (further discussed below), and the remaining drydock was held for sale at December 31, 2017 and sold during 2019 • Impairments of inventory and other assets - During 2017, we recorded an impairment of $3.7 million related to inventory in our Fabrication Division that was originally received in connection with a settlement with a vendor in 2014. The inventory consisted of specialty and high-grade copper nickel and steel materials as well as lower-grade carbon steel pipe and valve fittings. During 2017, we performed our annual inspection of this inventory and determined that the high-grade stainless steel and copper nickel components remained in good condition; however; much of the lower-grade carbon steel pipe and valve fittings had deteriorated significantly due to exposure to the elements. As a result, we reduced the carrying value of the lower-grade inventory to scrap value and reduced the carrying value of the high-grade inventory to its estimated net realizable value based on its good condition. In addition, we recorded an impairment of $3.0 million related to inventory in our Fabrication Division that was originally received in connection with a settlement with a customer in 2013 related to a deepwater construction project. The inventory consisted of specialty piping and valves for which demand for the inventory was negatively impacted by a lack of offshore construction activity. As a result, we recorded an impairment to reduce the carrying value of the inventory to scrap value • Other – During 2017, we sold two drydocks in our Shipyard Division for proceeds of $2.0 million and a loss of $0.3 million Assets held for sale - As discussed above, at December 31, 2019, our assets held for sale primarily consisted of three 660-ton crawler cranes, two plate bending roll machines and a deck barge December 31, Assets 2019 2018 Machinery and equipment $ 17,618 $ 27,104 Accumulated depreciation (8,612 ) (8,169 ) Total assets held for sale $ 9,006 $ 18,935

PROPERTY, PLANT AND EQUIPMENT A

PROPERTY, PLANT AND EQUIPMENT AND LEASED FACILITIES AND EQUIPMENT	12 Months Ended
	Dec. 31, 2019
Property Plant And Equipment [Abstract]
PROPERTY, PLANT AND EQUIPMENT AND LEASED FACILITIES AND EQUIPMENT	4. PROPERTY, PLANT AND EQUIPMENT AND LEASED FACILITIES AND EQUIPMENT Property, plant and equipment Property, plant and equipment consisted of the following at December 31, 2019 and 2018 (in thousands): Estimated December 31, Useful Life 2019 2018 (in Years) Land — $ 4,972 $ 4,972 Buildings 25 35,580 34,696 Machinery and equipment 3 to 25 126,622 132,155 Furniture and fixtures 3 to 5 2,288 2,497 Transportation equipment 3 to 5 2,521 2,627 Improvements 15 40,377 42,182 Construction in progress — 2,636 1,944 Total property, plant and equipment 214,996 221,073 Accumulated depreciation (144,512 ) (141,143 ) Property, plant and equipment, net $ 70,484 $ 79,930 Depreciation expense for 2019, 2018 and 2017 was $9.6 million, $10.4 million and $12.7 million, respectively. The decrease in depreciation expense for 2019 was due to assets becoming fully depreciated. The decrease in expense for 2018 was due to classifying our South Texas Properties as assets held for sale during the first quarter of 2017 and suspending the recognition of depreciation expense for those assets. Leased Facilities and Equipment As discussed further in Note 1, in the first quarter 2019, we adopted ASU 2016-02, “Leases.” Upon adoption, we recorded operating lease assets and lease liabilities of approximately $7.1 million and $5.2 million, respectively, at January 1, 2019. Included in our lease asset was an intangible asset of $1.9 million associated with two favorable lease obligations recorded in connection with a former acquisition, which was reclassified as a lease asset under ASU 2016-02. At December 31, 2019, • Corporate office in Houston, Texas consisting of approximately 17,000 square feet of office space. The lease expires in May 2025. • Jennings Yard located five miles east of Jennings, Louisiana, consisting of a 180-acre yard on the west bank of the Mermentau River approximately 25 miles north of the U.S. Intracoastal Waterway. The lease expires in January 2025 with two, ten-year renewal options that would extend the lease through January 2045. See Note 3 for discussion of our anticipated closure of the Jennings Yard. • Lake Charles Yard located near Lake Charles, Louisiana, consisting of a 10-acre yard, 17 miles from the GOM on the Calcasieu River, that we sublease from a third party. The sublease expires in July 2023 with three, five-year renewal options (subject to sublessor renewals) that would extend the lease through July 2038. During the fourth quarter 2019, we determined that it was no longer reasonably certain that we would exercise the renewal options for our Jennings Yard and Lake Charles Yard, and accordingly, we remeasured our lease obligations for these facilities to exclude the lease renewal options, which resulted in a reduction to our operating lease assets and lease liabilities of $2.5 million. At December 31, 2019, our lease asset, current lease liability and long-term lease liability were $1.9 million, $0.5 million and $2.1 million, respectively. Future minimum payments under leases having initial terms of more than twelve months are as follows (in thousands): Minimum Payments 2020 $ 660 2021 668 2022 677 2023 583 2024 488 Total lease payments 3,076 Less: interest (481 ) Present value of lease liabilities $ 2,595 Total lease expense, to include lease asset amortization expense and expense for leases that are twelve months or less, for 2019, 2018 and 2017, was, $1.8 million, $1.9 million and $2.0 million, respectively, related to our leased facilities and equipment. Cash paid for interest and lease expense for 2019 was $2.0 million. The discount rate used to determine the present value of our lease liabilities was based on the interest rate on our Credit Agreement adjusted for terms similar to that of our leased properties. At December 31, 2019, our weighted-average remaining lease term was approximately 4.6 years and the weighted-average discount rate used to derive our lease liability was 6.75%.

CREDIT FACILITIES

CREDIT FACILITIES	12 Months Ended
	Dec. 31, 2019
Debt Disclosure [Abstract]
CREDIT FACILITIES	5. CREDIT FACILITIES Credit Agreement We have a $40.0 million revolving credit facility with Hancock Whitney Bank ("Credit Agreement") that can be used for borrowings or letters of credit that matures June 9, 2021. On February 28, 2020, we amended our Credit Agreement to amend our financial covenants. Our amended quarterly financial covenants at December 31, 2019, and for the remaining term of the Credit Agreement, are as follows: • Ratio of current assets to current liabilities of not less than 1.25:1.00; • Minimum tangible net worth of at least the sum of $130.0 million, plus 100% of the proceeds from any issuance of stock or other equity after deducting of any fees, commissions, expenses and other costs incurred in such offering; • Minimum cash, cash equivalents and short-term investments of $40.0 million; and • Ratio of funded debt to tangible net worth of not more than 0.50:1.00. Our Credit Agreement also includes restrictions regarding our ability to: (i) grant liens; (ii) make certain loans or investments; (iii) incur additional indebtedness or guarantee other indebtedness in excess of specified levels; (iv) make any material change to the nature of our business or undergo a fundamental change; (v) make any material dispositions; (vi) acquire another company or all or substantially all of its assets; (vii) enter into a merger, consolidation, or sale leaseback transaction; or (viii) declare and pay dividends if any potential default or event of default occurs. Interest on borrowings under the Credit Agreement may be designated, at our option, as either the Wall Street Journal At December 31, 2019, we had no outstanding borrowings under our Credit Agreement and $10.2 million of outstanding letters of credit to support our projects, providing $29.8 million of available capacity. At December 31, 2019, we were in compliance with all of our amended financial covenants, with a tangible net worth of $153.4 million (as defined by the Credit Agreement); total cash, cash equivalents and short-term investments of $69.6 million; a ratio of current assets to current liabilities of 1.67 to 1.0; and a ratio of funded debt to tangible net worth of 0.07:1.00. Surety Bonds We issue surety bonds in the ordinary course of business to support our projects. At December 31, 2019, we had $409.9 million of outstanding surety bonds.

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2019
Income Tax Disclosure [Abstract]
INCOME TAXES	6. INCOME TAXES A reconciliation of the U.S. federal statutory tax rate to our income tax (expense) benefit for 2019, 2018 and 2017, is as follows (in thousands): 2019 2018 2017 Amount % Amount % Amount % U.S. statutory rate $ 10,393 21.0 % $ 4,159 21.0 % $ 24,136 35.0 % Increase (decrease) resulting from: Permanent differences (85 ) (0.2 )% (206 ) (1.0 )% (330 ) 0.5 % State income taxes 173 0.4 % (571 ) (2.9 )% 366 (0.5 )% Other (13 ) — 374 1.9 % (118 ) 0.2 % Discrete items Vesting of common stock 13 — (19 ) (0.1 )% (253 ) 0.4 % Change in valuation allowance (10,385 ) (21.0 )% (4,308 ) (21.7 )% 392 (0.5 )% Income tax (expense) benefit $ 96 0.2 % $ (571 ) (2.8 )% $ 24,193 35.1 % Income Tax (Expense) Benefit - Significant components of our income tax (expense) benefit for 2019, 2018 and 2017, were as follows (in thousands): 2019 2018 2017 Current Federal $ — $ — $ — State 86 (317 ) (83 ) Total current 86 (317 ) (83 ) Deferred Federal 10,308 3,410 24,219 State 87 644 449 Valuation allowance (10,385 ) (4,308 ) (392 ) Total deferred 10 (254 ) 24,276 Income tax (expense) benefit $ 96 $ (571 ) $ 24,193 Deferred Taxes - Significant components of our deferred tax assets and liabilities at December 31, 2019 and 2018, were as follows (in thousands): December 31, 2019 2018 Deferred tax assets Impairments of intangible assets and inventory $ 644 $ 1,217 Employee benefits 724 758 Accrued losses on uncompleted contracts 3,335 2,380 Stock based compensation expense 312 266 Allowance for doubtful accounts 11 84 Long-term incentive awards - 150 Federal net operating losses 14,885 9,962 State net operating losses 1,678 1,155 R&D and other tax credits 806 - Other 426 395 Total deferred tax assets 22,821 16,367 Deferred tax liabilities Property, plant and equipment and AHFS (7,523 ) (11,416 ) Prepaid insurance (402 ) (450 ) Total deferred tax liabilities (7,925 ) (11,866 ) Net deferred tax assets 14,896 4,501 Valuation allowance (15,086 ) (4,701 ) Net deferred taxes (1) $ (190 ) $ (200 ) (1) Amounts are included in other noncurrent liabilities on our Balance Sheet. At December 31, 2019 and 2018, we had total DTAs of $22.8 million and $16.4 million, respectively (including U.S. federal net operating loss(es) ("NOL(s)") DTAs of $14.9 million and $10.0 million, respectively). On a periodic and ongoing basis we evaluate our DTAs (including our NOL DTAs) and assess the appropriateness of our valuation allowance(s) ("VA(s)"). In assessing the need for a VA, we consider both positive and negative evidence related to the likelihood of realizing our DTAs. If, based upon the available evidence, our assessment indicates that it is more likely than not that some or all of the DTAs will not be realized, we record a VA. Our assessments include, among other things, the amount of taxable temporary differences that will result in future taxable income, the value and quality of our backlog, evaluations of existing and anticipated market conditions, analysis of recent and historical operating results (including cumulative losses over multiple periods) and projections of future results and strategic plans, as well as asset expiration dates. As a result of our assessment and due to cumulative losses for the three years ended December 31, 2019, we believe the negative evidence outweighs the positive evidence with respect to our ability to realize our U.S. federal NOL DTAs, and accordingly, at December 31, 2019 and 2018, we had VAs of $15.1 million and $4.7 million, respectively, offsetting our total DTAs. At December 31, 2019, we had gross U.S. federal NOL carryforwards (excluding VAs) of $70.9 million, of which $42.3 million will expire in 2037 with the remaining U.S. federal NOL carryforwards eligible to be carried forward indefinitely, subject to an 80% limitation on taxable income in each year. We had gross state NOL carryforwards (excluding VAs) of $65.1 million, which will expire from 2035 through 2039. Uncertain Tax Positions - Reserves for uncertain tax positions are recognized when we consider it more likely than not that additional tax will be due in excess of amounts reflected in our income tax returns, irrespective of whether or not we have received tax assessments. Interest and penalties on uncertain tax positions are recorded within income tax expense. Tax returns subject to examination by the U.S. Internal Revenue Service are open for years 2015 and after. At December 31, 2019 and 2018, we had no material reserves for uncertain tax positions. Tax Cuts and Jobs Act - In December 2017, the Tax Cuts and Jobs Act was signed into law which, among other things, reduced the U.S. federal corporate income tax rate from a maximum of 35.0% to 21.0% (effective January 1, 2018).

RETIREMENT AND LONG-TERM INCENT

RETIREMENT AND LONG-TERM INCENTIVE PLANS	12 Months Ended
	Dec. 31, 2019
Share Based Payments And Retirement Disclosure [Abstract]
RETIREMENT AND LONG-TERM INCENTIVE PLANS	7. RETIREMENT AND LONG-TERM INCENTIVE PLANS Defined Contribution Plan We sponsor a defined contribution plan for eligible employees that is qualified under Section 401(k) of the Internal Revenue Code, which includes voluntary employee pre-tax contributions and a Company matching contribution, with potential additional discretionary contributions determined by the Board of Directors. Effective April 1, 2016, we temporarily suspended our matching contribution, but reinstated it effective May 1, 2019. For 2019, we contributed $0.8 million to the plan. Long-Term Incentive Plans Under our long-term incentive plans ("Incentive Plans"), the Compensation Committee of our Board of Directors may grant cash-based awards and equity-based awards to eligible employees and non-employee directors, including restricted stock and restricted stock units, stock options and stock-based performance awards. The Compensation Committee determines the number of shares or stock options subject to each award, as well as the terms, conditions, performance measures, and other provisions of the award. A summary of our Incentive Plans, and the number of shares of our common stock that may be issued under each plan, is as follows: • Long-Term Incentive Plan (approved on February 13, 1997) - 1,000,000 • 2002 Long-Term Incentive Plan (approved on April 24, 2002, and amended on April 26, 2006) - 500,000 • 2011 Stock Incentive Plan (approved on April 28, 2011) - 500,000 • 2015 - 1,000,000 shares. At December 31, 2019, we had 611,887 aggregate shares available for future issuance under our Incentive Plans. Restricted Stock and Stock Option Awards - Restricted stock awards include shares of restricted stock and restricted stock units and are subject to transfer restrictions, forfeiture provisions and other terms and conditions of the Incentive Plans. Restricted stock awards to our employees generally have a three-year graded vesting period and awards to our non-employee directors vest over a six-month period. The total initial fair value for these awards is determined based upon the closing price of our stock on the date of grant applied to the total number of shares granted. The fair value is expensed on a straight-line basis over the applicable vesting period. A summary of activity for our restricted stock awards for 2019, 2018 and 2017 is as follows: 2019 2018 2017 Number of Shares Weighted- Average Grant-Date Fair Value Per Share Number of Shares Weighted- Average Grant-Date Fair Value Per Share Number of Shares Weighted- Average Grant-Date Fair Value Per Share Restricted shares, beginning of period 526,438 $ 11.56 445,126 $ 12.83 370,565 $ 12.99 Granted 170,936 6.09 440,185 11.16 383,121 13.02 Vested (255,449 ) 11.41 (250,219 ) 10.93 (215,478 ) 12.52 Forfeited (155,777 ) 11.81 (108,654 ) 12.01 (93,082 ) 12.53 Restricted shares, end of period 286,148 8.30 526,438 11.56 445,126 12.83 Compensation expense for our restricted stock awards was $1.8 million, $2.8 million and $2.7 million for 2019, 2018 and 2017, respectively. The total income tax benefit (expense) recognized for our share-based compensation arrangements was benefit of $13,000 for 2019 and a expense of $19,000 and $0.3 million for 2018 and 2017, respectively. At December 31, 2019, we had $1.6 million of unrecognized compensation expense related to our restricted stock awards. This cost is expected to be recognized over a weighted-average period of two years. The total fair value of restricted stock awards granted during 2019 was $1.0 million and the total fair value of restricted stock awards that vested during 2019 was $2.9 million. At December 31, 2019, we had no outstanding stock option awards and no stock option awards were made during 2019, 2018 or 2017. Stock-Based Performance Awards – Stock-based performance awards represent awards payable in cash for which the amount payable is determined based upon our total shareholder return during the performance period compared to an industry peer group as determined by our Compensation Committee. The cash payment occurs in the period immediately following the completion of the performance period. The fair value of the awards is calculated each reporting period using a Monte Carlo simulation model and is expensed on a straight-line basis over the applicable performance period, with cumulative adjustments for changes in the fair value between reporting periods. During 2018 and 2017, stock-based performance awards were granted with a three-year performance period ending December 31, 2020 and 2019, respectively. During 2019 we recognized a benefit of $1.7 million (due to the reversal of previously recognized expense), and during 2018 and 2017 we recognized compensation expense of $1.1 million and $1.5 million, respectively, related to our stock-based performance awards. At December 31, 2019, we had no amounts accrued for these awards as the minimum target for the stock-based performance award granted in 2017 was not achieved, and the Monte Carlo simulation model projects that no payout will be earned for the stock-based performance award granted in 2018. The total fair value of stock-based performance awards granted during 2018 and 2017 was $3.8 million and $4.7 million, respectively. Cash-Based Performance Awards – Cash-based performance awards represent awards payable in cash based on the achievement of annual income targets. The cash payment occurs in the period immediately following the completion of the performance period. During 2019, cash-based performance awards were granted with a three-year During 2019, we recognized no compensation expense related to cash-based performance awards as the minimum income target for 2019 was not achieved. Target amounts payable associated with the 2020 and 2021 performance periods are $0.5 million for each performance period if the target income metrics are achieved.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2019
Commitments And Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	8. COMMITMENTS AND CONTINGENCIES We are subject to various routine legal proceedings in the normal conduct of our business, primarily involving commercial disputes and claims, workers’ compensation claims, and claims for personal injury under general maritime laws of the U.S. and the Jones Act. While the outcome of these lawsuits, legal proceedings and claims cannot be predicted with certainty, we believe that the outcome of any such proceedings, even if determined adversely, would not have a material adverse effect on our financial position, results of operations or cash flows. MPSV Termination Letter During the first quarter 2018, we received notices of termination of the contracts for the construction of two MPSVs from one of our Shipyard Division customers. We dispute the purported terminations and disagree with the customer’s reasons for such terminations. Pending the resolution of the dispute, we have ceased all work and the partially completed vessels and associated equipment and materials remain at our facility in Houma, Louisiana. The customer also made claims under the bonds issued by the Surety in connection with the construction of the vessels. We have discussed with the Surety our disagreement with the customer's purported terminations and its claims and continue to confer with the Surety regarding the dispute with the customer. On October 2, 2018, we filed a lawsuit against the customer to enforce our rights and remedies under the applicable construction contracts. Our lawsuit disputes the propriety of the customer’s purported terminations of the construction contracts and seeks to recover damages associated with the customer’s actions. The customer filed its response to our lawsuit denying many of the allegations in the lawsuit and asserting a counterclaim against us seeking, among other things, declaratory judgment as to the validity of the customer’s purported terminations of the construction contracts and other purported claims for which the customer is seeking damages in an unspecified amount. We have filed a response to the counterclaim denying all of the customer’s claims. The customer subsequently filed an amendment to its counterclaim to add claims by the customer against the Surety. The customer also filed a motion for partial summary judgment with the trial court seeking, among other things, to obtain possession of the vessels. A hearing on the motion was held on May 28, 2019, and the customer's request to obtain possession of the vessels was denied by the trial court. The customer subsequently filed a second motion for partial summary judgment re-urging its previously denied request to obtain possession of the vessels. A hearing on the second motion was held on November 5, 2019, and the customer’s request to obtain possession of the vessels was again denied by the trial court. Thereafter, the customer requested that the appellate court exercise its discretion and review the trial court’s denial of the customer’s second motion. We have opposed the discretionary appellate review request of the customer and the appellate matter is pending. We are unable to estimate the probability of a favorable or unfavorable outcome with respect to the dispute or estimate the amount of potential loss, if any, related to this matter. We can provide no assurances that we will not incur additional costs as we pursue our rights and remedies under the contracts and defend against the customer’s claims. At December 31, 2019 and 2018, other noncurrent assets on our Balance Sheet included a net contract asset of $12.5 million, which consisted of our contract asset, accrued contract losses, and deferred revenue balances at the time of the customer's purported terminations of the contracts. Insurance We may be exposed to future losses through our use of deductibles and self-insured retentions for our exposures related to third party liability and workers' compensation. We expect liabilities in excess of any deductibles and self-insured retentions to be covered by insurance. To the extent we are self-insured, reserves are recorded based upon our estimates, with input from legal and insurance advisors. Changes in assumptions, as well as changes in actual experience, could cause these estimates to change. Letters of Credit and Surety Bonds We obtain letters of credit under our Credit Agreement or surety bonds from financial institutions to provide to our customers in order to secure advance payments or guarantee performance under our contracts, or in lieu of retention being withheld on our contracts. With respect to a letter of credit under our Credit Agreement, any payment in the event of non-performance under a contract would become a borrowing under our Credit Agreement and thus a direct obligation. With respect to a surety bond, any payment in the event of non-performance is subject to indemnification of the Surety by us, which may require us to borrow under our Credit Agreement. When a contract is complete, the contingent obligation terminates, and letters of credit or surety bonds are returned. See Note 5 for further discussion of our Credit Agreement and surety bonds. Environmental Matters Our operations are subject to extensive and changing U.S. federal, state and local laws and regulations, as well as the laws of other countries, that establish health and environmental quality standards. These standards, among others, relate to air and water pollutants and the management and disposal of hazardous substances and wastes. We are exposed to potential liability for personal injury or property damage caused by any release, spill, exposure or other accident involving such pollutants, substances or wastes. In connection with the historical operation of our facilities, including those associated with acquired operations, substances which currently are or might be considered hazardous were used or disposed of at some sites that will or may require us to make expenditures for remediation. We believe we are in compliance, in all material respects, with environmental laws and regulations and maintain insurance coverage to mitigate exposure to environmental liabilities. We do not believe any environmental matters will have a material adverse effect on our financial condition, results of operations or cash flow. Leases We maintain operating leases for our corporate office and certain operating facilities and equipment. See Note 4 for further discussion of our leases.

LOSS PER SHARE

LOSS PER SHARE	12 Months Ended
	Dec. 31, 2019
Earnings Per Share [Abstract]
LOSS PER SHARE	9. LOSS PER SHARE The following table presents the computation of basic and diluted loss per share for 2019, 2018 and 2017 (in thousands, except per share data): 2019 2018 2017 Net loss $ (49,394 ) $ (20,378 ) $ (44,766 ) Less: distributed dividends from unvested restricted stock — — 3 Net loss attributable to common shareholders $ (49,394 ) $ (20,378 ) $ (44,769 ) Weighted average shares (1) 15,227 15,032 14,838 Basic and diluted loss per common share $ (3.24 ) $ (1.36 ) $ (3.02 ) (1) We have no dilutive securities.

OPERATING SEGMENTS

OPERATING SEGMENTS	12 Months Ended
	Dec. 31, 2019
Segment Reporting [Abstract]
OPERATING SEGMENTS	10. OPERATING SEGMENTS During 2018, we operated and managed our business through four operating divisions ("Fabrication", "Shipyard", "Services" and "EPC") and one non-operating division ("Corporate"), which represented our reportable segments. During the first quarter 2019, our EPC Division was operationally combined with our Fabrication Division. Our EPC Division was previously created to support the pursuit of a specific EPC project and other projects that require project management of EPC activities. Our operational combination of the EPC Division with the Fabrication Division is the result of our reduced emphasis on EPC project management opportunities and greater focus on onshore modular fabrication opportunities. As a result of the aforementioned, we operate and manage our business through three operating divisions ("Fabrication", "Shipyard" and "Services") and one non-operating division ("Corporate"), which represent our reportable segments. Accordingly, the segment results for the EPC Division for 2018 and 2017 were combined with the Fabrication Division to conform to the presentations of our reportable segments for 2019. We believe that our operating divisions meet the criteria of reportable segments under GAAP. Our three operating divisions and Corporate Division are discussed below: Fabrication Division - Our Fabrication Division fabricates modules and piping systems for onshore refining, petrochemical, LNG and industrial facilities; fabricates foundations, secondary steel components and support structures for alternative energy developments and coastal mooring facilities; fabricates offshore production platforms and associated structures, including jacket foundations, piles and topsides for fixed production and utility platforms, as well as hulls and topsides for floating production and utility platforms; and fabricates other complex steel structures and components. These activities are performed at our facility in Houma, Louisiana. Shipyard Division - Our Shipyard Division fabricates newbuild marine vessels, including OSVs, MPSVs, research vessels, tugboats, salvage vessels, towboats, barges, drydocks, anchor handling vessels, and lift boats; provides marine repair and maintenance services, including steel repair, blasting and painting services, electrical systems repair, machinery and piping system repairs, and propeller, shaft, and rudder reconditioning; and performs conversion projects to lengthen vessels and modify vessels to permit their use for a different type of activity or enhance their capacity or functionality. These activities are performed at our facilities in Houma, Jennings and Lake Charles, Louisiana. See Note 3 for discussion of our anticipated closure of the Jennings Yard. Services Division - Our Services Division provides services on offshore platforms, including welding, interconnect piping and other services required to connect production equipment and service modules and equipment on a platform; provides on-site construction and maintenance services on inland platforms and structures and industrial facilities; performs municipal and drainage projects, including pump stations, levee reinforcement, bulkheads and other public works; and fabricates skid units, modules and piping systems. These activities are performed at customer facilities or at our facility in Houma, Louisiana. Corporate Division - Our Corporate Division includes costs that do not directly relate to our three operating divisions. Such costs include, but are not limited to, costs of maintaining our corporate office, executive management salaries and incentives, board of directors' fees, litigation related costs, and costs associated with overall corporate governance and being a publicly traded company. Costs incurred by our Corporate Division on behalf of our operating divisions are allocated to the operating divisions. Such costs include, but are not limited to, human resources, insurance, sales and marketing, information technology and accounting. We generally evaluate the performance of, and allocate resources to, our divisions based upon gross profit (loss) and operating income (loss). Segment assets are comprised of all assets attributable to each division. Intersegment revenues are priced at the estimated fair value of work performed. Summarized financial information for our segments as of and for the three-year period ended December 31, 2019, is as follows (in thousands): 2019 Fabrication Shipyard Services Corporate Consolidated Revenue $ 70,052 $ 159,217 $ 81,706 $ (7,667 ) $ 303,308 Gross profit (loss) (1) (11,249 ) (10,949 ) 5,516 (317 ) (16,999 ) Operating income (loss) (22,101 ) (21,352 ) 3,329 (9,897 ) (50,021 ) Depreciation and amortization expense 3,534 4,167 1,450 413 9,564 Capital expenditures 810 1,827 1,153 0 3,790 Total Assets 55,066 97,409 28,336 71,966 252,777 2018 Fabrication Shipyard Services Corporate Consolidated Revenue $ 40,420 $ 96,424 $ 88,230 $ (3,827 ) $ 221,247 Gross profit (loss) (2) (7,840 ) (10,472 ) 12,447 (1,331 ) (7,196 ) Operating income (loss) (4,813 ) (14,396 ) 9,371 (9,827 ) (19,665 ) Depreciation and amortization expense 4,315 4,229 1,511 295 10,350 Capital expenditures 216 2,003 1,244 18 3,481 Total Assets (3) 64,076 97,197 38,643 58,374 258,290 2017 Fabrication Shipyard Services Corporate Consolidated Revenue $ 58,078 $ 52,699 $ 65,445 $ (5,200 ) $ 171,022 Gross profit (loss) (4) (1,900 ) (44,870 ) 4,575 (730 ) (42,925 ) Operating income (loss) (11,969 ) (50,044 ) 1,874 (8,471 ) (68,610 ) Depreciation and amortization expense 6,592 4,073 1,676 404 12,745 Capital expenditures 2,395 1,909 403 127 4,834 Total Assets (3) 155,929 74,516 32,487 7,908 270,840 (1) Gross loss and operating loss for 2019 includes project charges of $8.4 million, $7.2 million and $1.6 million for our Fabrication, Shipyard and Services Divisions, respectively. Operating loss also includes impairments of $8.7 million and $7.9 million for our Fabrication and Shipyard Divisions, respectively, and restructuring costs of $0.7 million for our Corporate Division. See Note 2 for further discussion of our project charges and Note 3 for further discussion of our impairments. (2) Gross loss and operating loss for 2018 includes project charges of $2.4 million and $6.7 million for our Fabrication and Shipyard Divisions, respectively. Operating loss also includes impairments of $1.0 million for our Shipyard Division and a net benefit of $8.2 million for our Fabrication Division related to a gain on the sale of our South Texas Properties of $8.0 million and a gain on insurance recoveries of $3.6 million, offset partially by impairments of $3.4 million. See Note 2 for further discussion of our project charges and Note 3 for further discussion of our asset impairments ( 3 ) Cash and short-term investments are reported within our Corporate Division for 2019. Total assets previously reported for 2018 and 2017 have been recast to conform to our presentation for 2019. ( 4) Gross loss and operating loss for 2017 includes project charges of $34.5 million for our Shipyard Division. Operating loss also includes impairments of $6.7 million and $1.2 million for our Fabrication and Shipyard Divisions, respectively. See Note 2 for further discussion of our project charges and Note 3 for further discussion of our asset impairments.

QUARTERLY OPERATING RESULTS (UN

QUARTERLY OPERATING RESULTS (UNAUDITED)	12 Months Ended
	Dec. 31, 2019
Quarterly Financial Information Disclosure [Abstract]
QUARTERLY OPERATING RESULTS (UNAUDITED)	11. QUARTERLY OPERATING RESULTS (UNAUDITED) The following table presents selected unaudited consolidated financial information on a quarterly basis for 2019 and 2018 (in thousands, except per share data): March 31, 2019 June 30, 2019 September 30, 2019 December 31, 2019 (1) Revenue $ 67,605 $ 80,456 $ 75,802 $ 79,445 Gross profit (loss) 553 (1,598 ) (2,685 ) (13,269 ) Net loss (3,042 ) (5,248 ) (6,779 ) (34,325 ) Basic and diluted loss per share (0.20 ) (0.34 ) (0.44 ) (2.26 ) March 31, 2018 June 30, 2018 September 30, 2018 December 31, 2018 (2) Revenue $ 57,290 $ 54,014 $ 49,712 $ 60,231 Gross profit (loss) 679 (699 ) (3,212 ) (3,964 ) Net income (loss) (5,296 ) 549 (10,949 ) (4,682 ) Basic and diluted loss per share (0.36 ) 0.04 (0.73 ) (0.31 ) (1) Gross loss and net loss for the fourth quarter 2019 was primarily due to the under recovery of overhead costs for our Fabrication Division and project charges of $13.8 million for our Fabrication and Shipyard Divisions. Net loss for the fourth quarter 2019 also includes impairments and (gain) loss on assets held for sale of $17.3 million for our Fabrication, Shipyard and Services Divisions. See Note 2 for further discussion of our project charges and Note 3 for further discussion of our impairments. (2) Gross loss and net loss for the fourth quarter 2018 was primarily due to under recovery of overhead costs for our Fabrication Division and project charges of $5.8 million for our Shipyard Division. Net loss for the fourth quarter 2018 also includes a $4.1 million gain on the sale of our Texas North Yard, offset partially by impairments of $3.0 million. Net loss for the third quarter 2018 includes the impact of a bad debt reserve of $2.8 million established during the quarter, and the fourth quarter 2018 includes a benefit from the reversal of the bad debt reserve as the receivable was collected during the quarter. See Note 2 for further discussion of our project charges and Note 3 for further discussion of our impairments.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Dec. 31, 2019
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	12. SUBSEQUENT EVENTS Credit Agreement Amendment – On February 28, 2020, we amended our Credit Agreement. See Note 5 for further discussion of our amendment. Customer Change Order Settlement – On February 28, 2020, we reached a $10.0 million settlement related to disputed change orders for a completed project and received payment from the customer in February 2020. At December 31, 2019, we had no amounts recorded associated with the change order.

ORGANIZATION AND SUMMARY OF S_2

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2019
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Nature of Operations	Nature of Operations Gulf Island Fabrication, Inc. (together with its subsidiaries, “Gulf Island,” "the Company," "we," "us" and "our") is a leading fabricator of complex steel structures, modules and marine vessels, and a provider of project management, hookup, commissioning, repair, maintenance and civil construction services. Our customers include United States ("U.S.") and, to a lesser extent, international energy producers; refining, petrochemical, LNG, industrial, power and marine operators; EPC companies; and certain agencies of the U.S. government. We operate and manage our business through three operating divisions ("Fabrication", "Shipyard" and "Services") and one non-operating division ("Corporate"), which represent our reportable segments. Our corporate headquarters is located in Houston, Texas, with operating facilities located in Houma, Jennings and Lake Charles, Louisiana. See Note 3 for discussion of our anticipated closure of the Jennings Yard. Significant projects in our backlog include the expansion of a paddle wheel riverboat; the fabrication of an offshore jacket and deck and modules for an offshore facility; material supply for an offshore jacket and deck; and construction of four harbor tug vessels, three regional class research vessels, three vehicle ferries, an ice-breaker tug, and three towing, salvage and rescue ships. Projects completed in recent years include the fabrication of petrochemical modules and a meteorological tower and platform for an offshore wind project and construction of two technologically-advanced OSVs, six harbor tug vessels and two towboats. Other completed projects include the fabrication of wind turbine foundations for the first offshore wind project in the U.S., and construction of two of the largest liftboats servicing the Gulf of Mexico ("GOM"), one of the deepest production jackets in the GOM, and the first single point anchor reservoir ("SPAR") hull fabricated in the U.S.
Basis of Presentation	Basis of Presentation The accompanying Consolidated Financial Statements ("Financial Statements") reflect all wholly owned subsidiaries. Intercompany balances and transactions have been eliminated in consolidation. The Financial Statements have been prepared in accordance with the rules and regulations of the U.S. Securities and Exchange Commission (the "SEC") and accounting principles generally accepted in the U.S. ("GAAP").
Liquidity Outlook	Liquidity Outlook In recent years our operating results and cash flows have been impacted by lower margins due to competitive pricing, a significant underutilization of our facilities and losses on certain projects. As a result, we implemented initiatives to improve and maintain our liquidity, reduce our reliance on the fabrication of structures and marine vessels associated with the offshore oil and gas sector, improve our resource utilization and centralize our key project resources, and improve our competitiveness and project execution. These initiatives are ongoing, and while we can provide no assurances that the initiatives will achieve our desired results,
Operating Cycle	Operating Cycle The durations of our contracts vary, but typically extend beyond twelve months from the date of contract award. Consistent with industry practice, assets and liabilities have been classified as current under the operating cycle concept whereby all contract-related items are classified as current regardless of whether cash will be received or paid within a twelve-month period. Assets and liabilities classified as current which may not be received or paid within the next twelve months include contract retainage, contract assets, deferred revenue and contract liabilities. Variations from normal contract terms may result in the classification of assets and liabilities as long-term.
Use of Estimates	Use of Estimates The preparation of our Financial Statements in conformity with GAAP requires us to make estimates and judgments that affect the reported amounts of assets, liabilities, revenue and expenses and related disclosures of contingent assets and liabilities. We believe our most significant estimates and judgments are associated with revenue recognition for our contracts, including application of the percentage-of-completion method, estimating costs to complete each contract and the recognition of incentives, unapproved change orders, claims, and liquidated damages; fair value and recoverability assessments that must be periodically performed with respect to long-lived assets and our assets held for sale; determination of deferred income tax assets, liabilities and related valuation allowances; reserves for bad debts; and liabilities related to self-insurance programs. If the underlying estimates and assumptions upon which our Financial Statements are based change in the future, actual amounts may differ materially from those included in the Financial Statements.
Loss Per Share	Loss Per Share Basic loss per share ("EPS") is calculated by dividing net loss by the weighted average number of common shares outstanding for the period. Diluted EPS reflects the assumed conversion of dilutive securities. See Note 9 for calculations of our basic and diluted EPS.
Cash Equivalents and Short-term Investments	Cash Equivalents and Short-term Investments Cash Equivalents - We consider investments with original maturities of three months or less when purchased to be cash equivalents. Short-term Investments - We consider investments with original maturities of more than three months but less than twelve months to be short-term investments. At December 31, 2019, our short-term investments include U.S. Treasuries with original maturities of less than six months. We intend to hold these investments until maturity and it is not more likely than not that we would be required to sell the investments prior to their maturity. The investments are stated at amortized costs, which approximates fair value due to their near-term maturities. All short-term investments are traded on active markets with quoted prices and represent level 1 fair value measurements.
Inventory	Inventory Inventory is recorded at the lower of cost or net realizable value determined using the first-in-first-out basis. The cost of inventory includes acquisition costs, production or conversion costs, and other costs incurred to bring the inventory to a current location and condition. Net realizable value is our estimated selling price in the normal course of business, less reasonably predictable costs of completion, disposal and transportation. An allowance for excess or inactive inventory is recorded based on an analysis that considers current inventory levels, historical usage patterns, estimates of future sales and salvage value. See Note 3 for further discussion of our inventory impairments.
Allowance for Doubtful Accounts	Allowance for Doubtful Accounts In the normal course of business we extend credit to our customers on a short-term basis and contract receivables are generally not collateralized; however, we typically have the right to place liens on our projects in the event of nonpayment by our customers. We routinely review individual contract receivable balances for collectibility and make provisions for probable uncollectible amounts as necessary. Among the factors considered in our review are the financial condition of our customer and its access to financing, underlying disputes with the customer, the age and value of the receivable balance, and economic conditions in general. See Note 2 for further discussion of our allowance for doubtful accounts.
Stock-Based Compensation	Stock-Based Compensation Awards under our stock-based compensation plans are calculated using a fair value-based measurement method. We use the straight-line method to recognize share-based compensation expense over the requisite service period of the award. We recognize the excess tax benefit or tax deficiency resulting from the difference between the deduction we receive for tax purposes and the stock-based compensation expense we recognize for financial reporting purposes created when common stock vests, as an income tax benefit or expense on our Consolidated Statements of Operations (“Statement of Operations”). See Note 7 for further discussion of our stock-based and other compensation plans. Tax payments made on behalf of employees to taxing authorities in order to satisfy employee income tax withholding obligations from the vesting of shares under our stock-based compensation plans are classified as a financing activity on our Consolidated Statements of Cash Flows ("Statement of Cash Flows").
Assets Held for Sale	Assets Held for Sale Assets held for sale are measured at the lower of their carrying amount or fair value less cost to sell. See Note 3 for further discussion of our assets held for sale.
Depreciation Expense	Depreciation Expense We depreciate property, plant and equipment on a straight-line basis over estimated useful lives ranging from three to 25 years. Ordinary maintenance and repairs, which do not extend the physical or economic lives of the plant or equipment, are charged to expense as incurred. See Note 4 for further discussion of our property, plant and equipment.
Long-Lived Assets	Long-Lived Assets We review long-lived assets for impairment, which include property, plant and equipment and our lease assets included within other noncurrent assets, when events or changes in circumstances indicate that the carrying amount may not be recoverable. If a recoverability assessment is required, the estimated future undiscounted cash flow associated with the asset or asset group is compared to its carrying amount to determine if an impairment exists. An asset group constitutes the minimum level for which identifiable cash flows are principally independent of the cash flows of other assets or asset groups. An impairment loss is measured by comparing the fair value of the asset or asset group to its carrying amount and recording the excess of the carrying amount of the asset or asset group over its fair value as an impairment charge. Fair value is determined based on discounted cash flows, appraised values or third-party indications of value, as appropriate. See Note 3 for further discussion of impairments of our long-lived assets.
Fair Value Measurements	Fair Value Measurements Our fair value determinations for financial assets and liabilities are based on the particular facts and circumstances. Financial instruments are required to be categorized within a valuation hierarchy based upon the lowest level of input that is significant to the fair value measurement. The three levels of the valuation hierarchy are as follows: • Level 1 - inputs are based upon quoted prices for identical instruments traded in active markets. • Level 2 - inputs are based upon quoted prices for similar instruments in active markets and model-based valuation techniques for which all significant assumptions are observable in the market. • Level 3 - inputs are based upon model-based valuation techniques for which significant assumptions are generally not observable in the market and typically reflect estimates and assumptions that we believe market participants would use in pricing the asset or liability. These include discounted cash flow models and similar valuation techniques. The carrying amounts of our financial instruments, including cash and cash equivalents, short-term investments, accounts receivable and accounts payable approximate their fair values. See Note 3 for discussion of impairments of our inventory, long-lived assets and assets-held-for sale.
Revenue Recognition	Revenue Recognition General - Our revenue is derived from customer contracts and agreements that are awarded on a competitively bid and negotiated basis using a range of contracting options, including fixed-price, unit-rate and T&M. Our contracts primarily relate to the fabrication and construction of steel structures, modules and marine vessels, and project management services and other service arrangements. We recognize revenue for our contracts in accordance with Accounting Standards Update ("ASU") 2014-09, Topic 606 “Revenue from Contracts with Customers” ("Topic 606"), which was adopted by us on January 1, 2018, and supersedes previous revenue recognition guidance, including industry-specific guidance. Accordingly, the reported results for 2019 and 2018 reflect the application of Topic 606 guidance, while the comparable results for 2017 were prepared under previous revenue recognition guidance. The impact of our adoption of Topic 606 was not material to our Financial Statements. Accordingly, no cumulative effect adjustment to retained earnings as of January 1, 2018 was recorded (based on the application of the modified retrospective method under Topic 606). Topic 606 requires entities to recognize revenue in a way that depicts the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. Additionally, provisions of Topic 606 specify which goods and services are distinct and represent separate performance obligations (representing the unit of account in Topic 606) within a contract and which goods and services (which could include multiple contracts or agreements) should be aggregated. In general, a performance obligation is a contractual obligation to construct and/or transfer a distinct good or service to a customer. The transaction price of a contract is allocated to each distinct performance obligation and recognized as revenue when, or as, the performance obligation is satisfied. Revenue for performance obligations satisfied over time are recognized as the work progresses. Revenue for performance obligations that do not meet the criteria for over time recognition are recognized at a point-in-time when a performance obligation is complete and a customer has obtained control of a promised asset. Fixed-Price and Unit-Rate Contracts - Revenue for our fixed-price and unit-rate contracts is recognized using the percentage-of-completion method based on contract costs incurred to date compared to total estimated contract costs (an input method). Contract costs include direct costs, such as materials and labor, and indirect costs attributable to contract activity. Material costs that are significant to a contract and do not reflect an accurate measure of project completion are excluded from the determination of our contract progress. Revenue for such materials is only recognized to the extent of costs incurred. Prior to our adoption of Topic 606, revenue for our fixed-price and unit-rate contracts was recognized using the percentage-of-completion method, based on the percentage of direct labor hours incurred to date compared to total estimated direct labor hours, and revenue for materials was recognized only to the extent of costs incurred. Revenue and gross profit for contracts accounted for using the percentage-of-completion method can be significantly affected by changes in estimated cost to complete such contracts. Significant estimates impacting the cost to complete a contract include: costs of engineering, materials, components, equipment, labor and subcontracts; labor productivity; schedule durations, including subcontractor and supplier progress; contract disputes, including claims; achievement of contractual performance requirements; and contingency, among others. Although our customers retain the right and ability to change, modify or discontinue further work at any stage of a contract, in the event our customers discontinue work, they are required to compensate us for the work performed to date. The cumulative impact of revisions in total cost estimates during the progress of work is reflected in the period in which these changes become known, including, to the extent required, the reversal of profit recognized in prior periods and the recognition of losses expected to be incurred on contracts. Due to the various estimates inherent in our contract accounting, actual results could differ from those estimates, which could result in material changes to our Financial Statements and related disclosures. See Note 2 for further discussion of projects with significant changes in estimated margins during 2019, 2018 and 2017, including projects in a significant loss position at December 31, 2019. T&M Contracts - Revenue for our T&M contracts is recognized at contracted rates when the work is performed, the costs are incurred and collection is reasonably assured. Our T&M contracts provide for labor and materials to be billed at rates specified within the contract. The consideration from the customer directly corresponds to the value of our performance completed at the time of invoicing. Our current revenue recognition method for T&M contracts is consistent with the method used prior to adoption of Topic 606. Variable Consideration - Revenue and gross profit for contracts can be significantly affected by variable consideration, which can be in the form of unapproved change orders, claims, incentives and liquidated damages that may not be resolved until the later stages of the contract or after the contract has been completed. We estimate variable consideration based on the amount we expect to be entitled and include estimated amounts in transaction price to the extent it is probable that a significant future reversal of cumulative revenue recognized will not occur or when we conclude that any significant uncertainty associated with the variable consideration is resolved. See Note 2 for further discussion of unapproved change orders, claims, incentives and liquidated damages. Additional Disclosures - Topic 606 also requires enhanced disclosures regarding the nature, amount, timing and uncertainty of revenues and cash flows from contracts with customers. See Note 2 for required disclosures under Topic 606. Pre-Contract Costs Pre-contract costs are generally charged to cost of revenue as incurred, but in certain cases their recognition may be deferred if specific probability criteria are met. At December 31, 2019 and 2018, we had no deferred pre-contract costs. Other (Income) Expense, Net Other (income) expense, net, generally represents (recoveries) provisions for bad debts, (gains) losses associated with the sale or disposition of property and equipment other than assets held for sale, and (income) expense associated with certain nonrecurring items.
Income Taxes	Income Taxes Income taxes have been provided using the liability method. Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes using enacted rates expected to be in effect during the year in which the differences are expected to reverse. Due to changing tax laws, significant judgment is required to estimate the effective tax rate expected to apply to tax differences that are expected to reverse in the future. A valuation allowance is provided to reserve for deferred tax assets ("DTA(s)") if, based upon the available evidence, it is more likely than not that some or all of the DTAs will not be realized. The realization of our DTAs depends on our ability to generate sufficient taxable income of the appropriate character and in the appropriate jurisdictions. Reserves for uncertain tax positions are recognized when we consider it more likely than not that additional tax will be due in excess of amounts reflected in our income tax returns, irrespective of whether or not we have received tax assessments. Interest and penalties on uncertain tax positions are recorded within income tax expense. See Note 6 for further discussion of our income taxes and DTAs.
New Accounting Standards	New Accounting Standards Leases - In the first quarter 2019, we adopted ASU 2016-02, “Leases,” which required us to record a lease liability on our Consolidated Balance Sheets (“Balance Sheet”) as of January 1, 2019 equal to the present value of our lease payments for leased assets, and record a lease asset on our Balance Sheet representing our right to use the underlying leased assets for all leases having an original term of longer than twelve months. In our adoption we elected the modified retrospective transition method, and accordingly, prior periods have not been restated and continue to be reported under the lease standard in effect during such periods. We also elected certain practical expedients provided by the new standard, including not recording an asset or liability for leases having a term of twelve months or less and not separating lease and non-lease components for our leases. Upon adoption of the standard we recorded operating lease assets and lease liabilities at January 1, 2019 associated with our long-term leases. The lease asset is reflected within other noncurrent assets, and the current and noncurrent portions of the lease liability are reflected within accrued expenses and other liabilities, and other noncurrent liabilities, respectively, on our Balance Sheet. For leases with escalations over the life of the lease, we recognize expense on a straight-line basis. See Note 4 for further discussion of our adoption of this standard and our lease assets and liabilities. Stock-based grants - In the first quarter 2019, we adopted ASU 2018-07, "Improvements to Non-employee Share-Based Payment Accounting," which simplifies the accounting for share-based payments granted to non-employees for goods and services. Under the new standard, most of the guidance for such payments to non-employees is now aligned with the requirements for share-based payments to employees. The adoption of the new standard did not have a material impact on our financial position, results of operations or related disclosures. Financial instruments - In June 2016, the FASB issued ASU 2016-13, which changes the way companies evaluate credit losses for most financial assets and certain other instruments. For trade and other receivables, short-term investments, loans and other instruments, entities will be required to use a new forward-looking “expected loss” model to evaluate impairment, potentially resulting in earlier recognition of allowances for losses. The new standard also requires enhanced disclosures, including the requirement to disclose the information used to track credit quality by year of origination for most financing receivables. ASU 2016-13 will be effective for us in the first quarter 2023. Early adoption of the new standard is permitted; however, we have not elected to early adopt the standard. The new standard is required to be applied using a cumulative-effect transition method. We are currently evaluating the effect that the new standard will have on our financial position, results of operations and related disclosures. Income taxes - In December 2019, the FASB issued ASU 2019-12 to simplify the accounting for income taxes by removing certain exceptions to the general principles and simplify areas such as franchise taxes, step-up in tax basis goodwill, separate entity financial statements and interim recognition of enacted tax laws or rate changes. The new standard will be effective for us in the first quarter 2021. We are currently evaluating the effect that the new standard will have on our financial position, results of operations and related disclosures.

Revenue, Contract Assets and _2

Revenue, Contract Assets and Liabilities and Other Contract Matters (Tables)	12 Months Ended
	Dec. 31, 2019
Revenue From Contract With Customer [Abstract]
Summary of Disaggregation of Revenue	The following tables summarize revenue for each of our operating segments, disaggregated by contract type, for 2019, 2018 and 2017 (in thousands): 2019 Fabrication Shipyard Services Eliminations Total Contract Type Fixed-price and unit-rate (1) $ 70,052 $ 152,590 $ 30,147 $ (5,169 ) $ 247,620 T&M (2) — 6,627 41,014 — 47,641 Other — — 10,545 (2,498 ) 8,047 Total $ 70,052 $ 159,217 $ 81,706 $ (7,667 ) $ 303,308 2018 Fabrication Shipyard Services Eliminations Total Contract Type Fixed-price and unit-rate (1) $ 40,420 $ 88,887 $ 38,612 $ (2,414 ) $ 165,505 T&M (2) — 7,537 43,481 — 51,018 Other — — 6,137 (1,413 ) 4,724 Total $ 40,420 $ 96,424 $ 88,230 $ (3,827 ) $ 221,247 2017 Fabrication Shipyard Services Eliminations Total Contract Type Fixed-price and unit-rate (1) $ 58,078 $ 47,787 $ 28,465 $ (5,096 ) $ 129,234 T&M (2) — 4,912 35,180 — 40,092 Other — — 1,800 (104 ) 1,696 Total $ 58,078 $ 52,699 $ 65,445 $ (5,200 ) $ 171,022 (1) Revenue is recognized as the contract is progressed over time. (2) Revenue is recognized at contracted rates when the work is performed and costs are incurred.
Summary of Remaining Performance Obligation by Operating Segment	The following table summarizes our remaining performance obligations by operating segment at December 31, 2019 (in thousands). Segment Performance Obligations Fabrication $ 50,145 Shipyard (1) 352,081 Services 13,212 Total $ 415,438 (1) Amount excludes approximately $21.9 million of remaining performance obligations related to contracts for the construction of two MPSVs that are subject to dispute pursuant to notices of termination from our customer. See Note 8 for further discussion of these contracts. We expect to recognize revenue for our remaining performance obligations at December 31, 2019, in the following periods (in thousands): Year Total 2020 $ 211,310 2021 108,252 2022 and beyond 95,876 Total $ 415,438
Summary of Contract with Customer, Asset and Liability	Information with respect to uncompleted contracts at December 31, 2019 and 2018 is as follows (in thousands): December 31, 2019 2018 Costs incurred on uncompleted contracts $ 386,932 $ 256,239 Estimated loss incurred to date (48,895 ) (35,470 ) Sub-total 338,037 220,769 Billings to date (295,136 ) (190,588 ) Deferred revenue (1) (4,592 ) (4,592 ) Total $ 38,309 $ 25,589 (1) Deferred revenue is included within other noncurrent assets as further discussed below. The above amounts are included within the following captions in our Balance Sheet at December 31, 2019 and 2018 (in thousands): December 31, 2019 2018 Contract assets $ 52,128 $ 29,982 Contract liabilities (1), (2), (3) (26,271 ) (16,845 ) Sub-total 25,857 13,137 Contract assets, noncurrent (1) 12,452 12,452 Total $ 38,309 $ 25,589 (1) The increase in contract liabilities compared to December 31, 2018, was primarily due to advance payments on a project in our Shipyard Division and three projects in our Fabrication Division and an increase in accrued contract losses, offset partially by the unwind of advance payments on a project in our Fabrication Division as a result of project progress. Contract assets, noncurrent at December 31, 2019 and 2018 consisted of our contract asset, accrued contract losses, and deferred revenue balances at the time of our customer’s purported termination of our two MPSV contracts. See Note 8 for further discussion of these contracts. (2) Revenue recognized during 2019 and 2018 related to amounts included in our contract liabilities balance at December 31, 2018 and 2017, was $14.3 million and $5.1 million, respectively. (3) Contract liabilities at December 31, 2019 and 2018, includes accrued contract losses of $6.4 million and $2.4 million, respectively. See "Project Changes in Estimates" below for further discussion of our accrued contract losses.
Schedules of Concentration of Risk, by Risk Factor	However, for 2019, 2018 and 2017, certain customers individually accounted for 10% or more of our consolidated revenue as follows (in thousands): Customer 2019 2018 2017 A $ 52,310 * * B 39,897 * * C 36,175 49,123 21,781 D 34,448 * * E * 25,873 * F * 23,279 * G * * 44,724 * The customer revenue was less than 10% of consolidated revenue for the year.

Impairments and (Gain) Loss o_2

Impairments and (Gain) Loss on Assets Held for Sale (Tables)	12 Months Ended
	Dec. 31, 2019
Assets Held For Sale Not Part Of Disposal Group [Abstract]
Summary of Impairments and (Gain) Loss on Assets Held for Sale	Impairments and (gain) loss on assets held for sale – Impairments and (gain) loss on assets held for sale (“AHFS”) generally represents asset impairments, (gains) losses on the sale of assets held for sale and certain nonrecurring items. A summary for 2019, 2018 and 2017 is below: 2019 Impairments and (gain) loss on assets held for sale Fabrication Shipyard Services Corporate Total Impairments of AHFS $ 7,842 $ 324 $ — $ — $ 8,166 Impairments of assets removed from AHFS 1,060 — — — 1,060 Impairments of Jennings Yard assets — 4,578 — — 4,578 Impairments of Lake Charles Yard assets — 2,998 — — 2,998 Impairments of inventory and other assets 118 — 282 21 421 (Gain) loss on AHFS and other (369 ) 20 — 654 305 Total $ 8,651 $ 7,920 $ 282 $ 675 $ 17,528 2018 Impairments and (gain) loss on assets held for sale Fabrication Shipyard Services Corporate Total Gain on sale of South Texas Properties, net $ (7,724 ) $ — $ — $ — $ (7,724 ) Impairments of AHFS 1,387 964 — — 2,351 Impairments of inventory and other assets 2,012 — 82 — 2,094 Gain from insurance proceeds (3,571 ) — — — (3,571 ) Total $ (7,896 ) $ 964 $ 82 $ — $ (6,850 ) 2017 Impairments and (gain) loss on assets held for sale Fabrication Shipyard Services Corporate Total Impairments of AHFS $ — $ 989 $ — $ — $ 989 Impairments of inventory and other assets 6,683 — — — 6,683 Other — 259 — — 259 Total $ 6,683 $ 1,248 $ — $ — $ 7,931
Summary of Assets Held for Sale	A summary of our assets held for sale at December 31, 2019 and 2018, is as follows (in thousands): December 31, Assets 2019 2018 Machinery and equipment $ 17,618 $ 27,104 Accumulated depreciation (8,612 ) (8,169 ) Total assets held for sale $ 9,006 $ 18,935

Property, Plant and Equipment_2

Property, Plant and Equipment and Leased Facilities and Equipment (Tables)	12 Months Ended
	Dec. 31, 2019
Property Plant And Equipment [Abstract]
Summary of Property, Plant and Equipment	Property, plant and equipment consisted of the following at December 31, 2019 and 2018 (in thousands): Estimated December 31, Useful Life 2019 2018 (in Years) Land — $ 4,972 $ 4,972 Buildings 25 35,580 34,696 Machinery and equipment 3 to 25 126,622 132,155 Furniture and fixtures 3 to 5 2,288 2,497 Transportation equipment 3 to 5 2,521 2,627 Improvements 15 40,377 42,182 Construction in progress — 2,636 1,944 Total property, plant and equipment 214,996 221,073 Accumulated depreciation (144,512 ) (141,143 ) Property, plant and equipment, net $ 70,484 $ 79,930
Schedule of Minimum Rental Payments	Future minimum payments under leases having initial terms of more than twelve months are as follows (in thousands): Minimum Payments 2020 $ 660 2021 668 2022 677 2023 583 2024 488 Total lease payments 3,076 Less: interest (481 ) Present value of lease liabilities $ 2,595

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Reconciliation of Income Tax	A reconciliation of the U.S. federal statutory tax rate to our income tax (expense) benefit for 2019, 2018 and 2017, is as follows (in thousands): 2019 2018 2017 Amount % Amount % Amount % U.S. statutory rate $ 10,393 21.0 % $ 4,159 21.0 % $ 24,136 35.0 % Increase (decrease) resulting from: Permanent differences (85 ) (0.2 )% (206 ) (1.0 )% (330 ) 0.5 % State income taxes 173 0.4 % (571 ) (2.9 )% 366 (0.5 )% Other (13 ) — 374 1.9 % (118 ) 0.2 % Discrete items Vesting of common stock 13 — (19 ) (0.1 )% (253 ) 0.4 % Change in valuation allowance (10,385 ) (21.0 )% (4,308 ) (21.7 )% 392 (0.5 )% Income tax (expense) benefit $ 96 0.2 % $ (571 ) (2.8 )% $ 24,193 35.1 %
Components of Income Tax Expense	Income Tax (Expense) Benefit - Significant components of our income tax (expense) benefit for 2019, 2018 and 2017, were as follows (in thousands): 2019 2018 2017 Current Federal $ — $ — $ — State 86 (317 ) (83 ) Total current 86 (317 ) (83 ) Deferred Federal 10,308 3,410 24,219 State 87 644 449 Valuation allowance (10,385 ) (4,308 ) (392 ) Total deferred 10 (254 ) 24,276 Income tax (expense) benefit $ 96 $ (571 ) $ 24,193
Components of Deferred Tax Assets and Liabilities	Significant components of our deferred tax assets and liabilities at December 31, 2019 and 2018, were as follows (in thousands): December 31, 2019 2018 Deferred tax assets Impairments of intangible assets and inventory $ 644 $ 1,217 Employee benefits 724 758 Accrued losses on uncompleted contracts 3,335 2,380 Stock based compensation expense 312 266 Allowance for doubtful accounts 11 84 Long-term incentive awards - 150 Federal net operating losses 14,885 9,962 State net operating losses 1,678 1,155 R&D and other tax credits 806 - Other 426 395 Total deferred tax assets 22,821 16,367 Deferred tax liabilities Property, plant and equipment and AHFS (7,523 ) (11,416 ) Prepaid insurance (402 ) (450 ) Total deferred tax liabilities (7,925 ) (11,866 ) Net deferred tax assets 14,896 4,501 Valuation allowance (15,086 ) (4,701 ) Net deferred taxes (1) $ (190 ) $ (200 ) (1) Amounts are included in other noncurrent liabilities on our Balance Sheet.

Retirement and Long-term Ince_2

Retirement and Long-term Incentive Plans (Tables)	12 Months Ended
	Dec. 31, 2019
Share Based Payments And Retirement Disclosure [Abstract]
Summary of Restricted Stock Awards Activity	A summary of activity for our restricted stock awards for 2019, 2018 and 2017 is as follows: 2019 2018 2017 Number of Shares Weighted- Average Grant-Date Fair Value Per Share Number of Shares Weighted- Average Grant-Date Fair Value Per Share Number of Shares Weighted- Average Grant-Date Fair Value Per Share Restricted shares, beginning of period 526,438 $ 11.56 445,126 $ 12.83 370,565 $ 12.99 Granted 170,936 6.09 440,185 11.16 383,121 13.02 Vested (255,449 ) 11.41 (250,219 ) 10.93 (215,478 ) 12.52 Forfeited (155,777 ) 11.81 (108,654 ) 12.01 (93,082 ) 12.53 Restricted shares, end of period 286,148 8.30 526,438 11.56 445,126 12.83

Loss Per Share (Tables)

Loss Per Share (Tables)	12 Months Ended
	Dec. 31, 2019
Earnings Per Share [Abstract]
Computation of Basic and Diluted Earnings Per Share	The following table presents the computation of basic and diluted loss per share for 2019, 2018 and 2017 (in thousands, except per share data): 2019 2018 2017 Net loss $ (49,394 ) $ (20,378 ) $ (44,766 ) Less: distributed dividends from unvested restricted stock — — 3 Net loss attributable to common shareholders $ (49,394 ) $ (20,378 ) $ (44,769 ) Weighted average shares (1) 15,227 15,032 14,838 Basic and diluted loss per common share $ (3.24 ) $ (1.36 ) $ (3.02 ) (1) We have no dilutive securities.

Operating Segments (Tables)

Operating Segments (Tables)	12 Months Ended
	Dec. 31, 2019
Segment Reporting [Abstract]
Summarized Segment Financial Information	Summarized financial information for our segments as of and for the three-year period ended December 31, 2019, is as follows (in thousands): 2019 Fabrication Shipyard Services Corporate Consolidated Revenue $ 70,052 $ 159,217 $ 81,706 $ (7,667 ) $ 303,308 Gross profit (loss) (1) (11,249 ) (10,949 ) 5,516 (317 ) (16,999 ) Operating income (loss) (22,101 ) (21,352 ) 3,329 (9,897 ) (50,021 ) Depreciation and amortization expense 3,534 4,167 1,450 413 9,564 Capital expenditures 810 1,827 1,153 0 3,790 Total Assets 55,066 97,409 28,336 71,966 252,777 2018 Fabrication Shipyard Services Corporate Consolidated Revenue $ 40,420 $ 96,424 $ 88,230 $ (3,827 ) $ 221,247 Gross profit (loss) (2) (7,840 ) (10,472 ) 12,447 (1,331 ) (7,196 ) Operating income (loss) (4,813 ) (14,396 ) 9,371 (9,827 ) (19,665 ) Depreciation and amortization expense 4,315 4,229 1,511 295 10,350 Capital expenditures 216 2,003 1,244 18 3,481 Total Assets (3) 64,076 97,197 38,643 58,374 258,290 2017 Fabrication Shipyard Services Corporate Consolidated Revenue $ 58,078 $ 52,699 $ 65,445 $ (5,200 ) $ 171,022 Gross profit (loss) (4) (1,900 ) (44,870 ) 4,575 (730 ) (42,925 ) Operating income (loss) (11,969 ) (50,044 ) 1,874 (8,471 ) (68,610 ) Depreciation and amortization expense 6,592 4,073 1,676 404 12,745 Capital expenditures 2,395 1,909 403 127 4,834 Total Assets (3) 155,929 74,516 32,487 7,908 270,840 (1) Gross loss and operating loss for 2019 includes project charges of $8.4 million, $7.2 million and $1.6 million for our Fabrication, Shipyard and Services Divisions, respectively. Operating loss also includes impairments of $8.7 million and $7.9 million for our Fabrication and Shipyard Divisions, respectively, and restructuring costs of $0.7 million for our Corporate Division. See Note 2 for further discussion of our project charges and Note 3 for further discussion of our impairments. (2) Gross loss and operating loss for 2018 includes project charges of $2.4 million and $6.7 million for our Fabrication and Shipyard Divisions, respectively. Operating loss also includes impairments of $1.0 million for our Shipyard Division and a net benefit of $8.2 million for our Fabrication Division related to a gain on the sale of our South Texas Properties of $8.0 million and a gain on insurance recoveries of $3.6 million, offset partially by impairments of $3.4 million. See Note 2 for further discussion of our project charges and Note 3 for further discussion of our asset impairments ( 3 ) Cash and short-term investments are reported within our Corporate Division for 2019. Total assets previously reported for 2018 and 2017 have been recast to conform to our presentation for 2019. ( 4) Gross loss and operating loss for 2017 includes project charges of $34.5 million for our Shipyard Division. Operating loss also includes impairments of $6.7 million and $1.2 million for our Fabrication and Shipyard Divisions, respectively. See Note 2 for further discussion of our project charges and Note 3 for further discussion of our asset impairments.

QUARTERLY OPERATING RESULTS (_2

QUARTERLY OPERATING RESULTS (UNAUDITED) (Tables)	12 Months Ended
	Dec. 31, 2019
Quarterly Financial Information Disclosure [Abstract]
Summary of Quarterly Results of Operations	The following table presents selected unaudited consolidated financial information on a quarterly basis for 2019 and 2018 (in thousands, except per share data): March 31, 2019 June 30, 2019 September 30, 2019 December 31, 2019 (1) Revenue $ 67,605 $ 80,456 $ 75,802 $ 79,445 Gross profit (loss) 553 (1,598 ) (2,685 ) (13,269 ) Net loss (3,042 ) (5,248 ) (6,779 ) (34,325 ) Basic and diluted loss per share (0.20 ) (0.34 ) (0.44 ) (2.26 ) March 31, 2018 June 30, 2018 September 30, 2018 December 31, 2018 (2) Revenue $ 57,290 $ 54,014 $ 49,712 $ 60,231 Gross profit (loss) 679 (699 ) (3,212 ) (3,964 ) Net income (loss) (5,296 ) 549 (10,949 ) (4,682 ) Basic and diluted loss per share (0.36 ) 0.04 (0.73 ) (0.31 ) (1) Gross loss and net loss for the fourth quarter 2019 was primarily due to the under recovery of overhead costs for our Fabrication Division and project charges of $13.8 million for our Fabrication and Shipyard Divisions. Net loss for the fourth quarter 2019 also includes impairments and (gain) loss on assets held for sale of $17.3 million for our Fabrication, Shipyard and Services Divisions. See Note 2 for further discussion of our project charges and Note 3 for further discussion of our impairments. (2) Gross loss and net loss for the fourth quarter 2018 was primarily due to under recovery of overhead costs for our Fabrication Division and project charges of $5.8 million for our Shipyard Division. Net loss for the fourth quarter 2018 also includes a $4.1 million gain on the sale of our Texas North Yard, offset partially by impairments of $3.0 million. Net loss for the third quarter 2018 includes the impact of a bad debt reserve of $2.8 million established during the quarter, and the fourth quarter 2018 includes a benefit from the reversal of the bad debt reserve as the receivable was collected during the quarter. See Note 2 for further discussion of our project charges and Note 3 for further discussion of our impairments.

Organization and Summary of S_3

Organization and Summary of Significant Accounting Policies - Additional Information (Details)	12 Months Ended
	Dec. 31, 2019USD ($)segmentvesselferrytugshiptowboat	Dec. 31, 2018USD ($)segment	Jan. 01, 2018USD ($)
Significant Accounting Policies [Line Items]
Number of operating segments | segment	3	4
Number of corporate non-operating segments | segment	1	1
Number of harbor tug vessels	4
Number of regional class research vessels	3
Number of ferries | ferry	3
Number of ice-breaker tug vessels | tug	1
Number of towing, salvage and rescue vessels | ship	3
Number of OSVs	2
Number of harbor tug vessels	6
Number of towboats | towboat	2
Prepaid contract costs | $	$ 0	$ 0
Accounting Standards Update 2014-09
Significant Accounting Policies [Line Items]
Cumulative effect of new accounting principle in period of adoption | $			$ 0
Minimum
Significant Accounting Policies [Line Items]
Property, plant and equipment, useful life	3 years
Maximum
Significant Accounting Policies [Line Items]
Property, plant and equipment, useful life	25 years

Revenue, Contract Assets and _3

Revenue, Contract Assets and Liabilities and Other Contract Matters - Summary of Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disaggregation of Revenue [Line Items]
Revenue	$ 79,445	$ 75,802	$ 80,456	$ 67,605	$ 60,231	$ 49,712	$ 54,014	$ 57,290	$ 303,308	$ 221,247	$ 171,022
Eliminations
Disaggregation of Revenue [Line Items]
Revenue									(7,667)	(3,827)	(5,200)
Fabrication
Disaggregation of Revenue [Line Items]
Revenue									70,052	40,420	58,078
Shipyard
Disaggregation of Revenue [Line Items]
Revenue									159,217	96,424	52,699
Services
Disaggregation of Revenue [Line Items]
Revenue									81,706	88,230	65,445
Fixed-price and unit-rate
Disaggregation of Revenue [Line Items]
Revenue									247,620	165,505	129,234
Fixed-price and unit-rate | Eliminations
Disaggregation of Revenue [Line Items]
Revenue									(5,169)	(2,414)	(5,096)
Fixed-price and unit-rate | Fabrication
Disaggregation of Revenue [Line Items]
Revenue									70,052	40,420	58,078
Fixed-price and unit-rate | Shipyard
Disaggregation of Revenue [Line Items]
Revenue									152,590	88,887	47,787
Fixed-price and unit-rate | Services
Disaggregation of Revenue [Line Items]
Revenue									30,147	38,612	28,465
T&M
Disaggregation of Revenue [Line Items]
Revenue									47,641	51,018	40,092
T&M | Shipyard
Disaggregation of Revenue [Line Items]
Revenue									6,627	7,537	4,912
T&M | Services
Disaggregation of Revenue [Line Items]
Revenue									41,014	43,481	35,180
Other
Disaggregation of Revenue [Line Items]
Revenue									8,047	4,724	1,696
Other | Eliminations
Disaggregation of Revenue [Line Items]
Revenue									(2,498)	(1,413)	(104)
Other | Services
Disaggregation of Revenue [Line Items]
Revenue									$ 10,545	$ 6,137	$ 1,800

Revenue, Contract Assets and _4

Revenue, Contract Assets and Liabilities and Other Contract Matters - Summary of Remaining Performance Obligation by Operating Segment (Details) $ in Thousands	Dec. 31, 2019USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 415,438
Fabrication | Operating Segments
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	50,145
Shipyard | Operating Segments
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	352,081
Services | Operating Segments
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 13,212

Revenue, Contract Assets and _5

Revenue, Contract Assets and Liabilities and Other Contract Matters -Summary of Remaining Performance Obligation by Operating Segment (Parenthetical) (Details)	Dec. 31, 2019USD ($)vessel	Mar. 31, 2018vessel
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 415,438,000
Number of multi-purpose service vessels | vessel	2	2
Shipyard | Disputes
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 21,900

Revenue, Contract Assets and _6

Revenue, Contract Assets and Liabilities and Other Contract Matters - Summary of Remaining Performance Obligation (Details) $ in Thousands	Dec. 31, 2019USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 415,438
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2020-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 211,310
Remaining performance obligation, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2021-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 108,252
Remaining performance obligation, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2022-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 95,876
Remaining performance obligation, period

Revenue, Contract Assets and _7

Revenue, Contract Assets and Liabilities and Other Contract Matters - Summary of Remaining Performance Obligation (Details 1) $ in Thousands	Dec. 31, 2019USD ($)
Revenue From Contract With Customer [Abstract]
Remaining performance obligation	$ 415,438

Revenue, Contract Assets and _8

Revenue, Contract Assets and Liabilities and Other Contract Matters - Summary of Contract with Customer, Asset and Liability (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Revenue From Contract With Customer [Abstract]
Costs incurred on uncompleted contracts	$ 386,932	$ 256,239
Estimated loss incurred to date	(48,895)	(35,470)
Sub-total	338,037	220,769
Billings to date	(295,136)	(190,588)
Deferred revenue	(4,592)	(4,592)
Total	38,309	25,589
Contract assets	52,128	29,982
Contract liabilities	(26,271)	(16,845)
Sub-total	25,857	13,137
Contract assets, noncurrent	$ 12,452	$ 12,452

Revenue, Contract Assets and _9

Revenue, Contract Assets and Liabilities and Other Contract Matters - Summary of Contract with Customer, Asset and Liability (Parenthetical) (Details) $ in Millions	12 Months Ended
	Dec. 31, 2019USD ($)vessel	Dec. 31, 2018USD ($)	Mar. 31, 2018vessel
Revenue From Contract With Customer [Abstract]
Number of multi-purpose service vessels | vessel	2		2
Contract with customer, liability, revenue recognized	$ 14.3	$ 5.1
Contract with customer, liability, accrued contract losses, current	$ 6.4	$ 2.4

Revenue, Contract Assets and_10

Revenue, Contract Assets and Liabilities and Other Contract Matters - Schedules of Concentration of Risk, by Risk Factor (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue	$ 79,445	$ 75,802	$ 80,456	$ 67,605	$ 60,231	$ 49,712	$ 54,014	$ 57,290	$ 303,308	$ 221,247	$ 171,022
Sales Revenue, Net | Customer Concentration Risk | Customer A
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue									52,310
Sales Revenue, Net | Customer Concentration Risk | Customer B
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue									39,897
Sales Revenue, Net | Customer Concentration Risk | Customer C
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue									36,175	49,123	21,781
Sales Revenue, Net | Customer Concentration Risk | Customer D
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue									$ 34,448
Sales Revenue, Net | Customer Concentration Risk | Customer E
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue										25,873
Sales Revenue, Net | Customer Concentration Risk | Customer F
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue										$ 23,279
Sales Revenue, Net | Customer Concentration Risk | Customer G
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue											$ 44,724

Revenue, Contract Assets and_11

Revenue, Contract Assets and Liabilities and Other Contract Matters - Schedules of Concentration of Risk, by Risk Factor (Parenthetical) (Details)	12 Months Ended
	Dec. 31, 2019
Sales Revenue, Net | Customer Concentration Risk | Maximum
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Concentration risk, percentage	10.00%

Revenue, Contract Assets and_12

Revenue, Contract Assets and Liabilities and Other Contract Matters - Additional Information (Details)	9 Months Ended	12 Months Ended
	Sep. 30, 2019USD ($)	Dec. 31, 2019USD ($)vesselVechicleProject	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2020
Long Term Contracts Or Programs Disclosure [Line Items]
Bad debt expense		$ 59,000	$ 30,000	$ 21,000
Allowance for bad debt		15,000,000	400,000
Reduction of estimated contract price for liquidated damages, amount		12,900,000	11,200,000	11,200,000
Change in estimated margins		17,200,000	9,100,000	$ 34,500,000
Reversal of gross profit recognized	$ 2,500,000	$ 800,000
Number of research vessels projects | vessel		3
Contract assets, noncurrent		$ 12,452,000	12,452,000
Retainage		$ 3,000,000	3,000,000
Shipyard
Long Term Contracts Or Programs Disclosure [Line Items]
Number of projects in a loss position | Project		2
Harbor tug
Long Term Contracts Or Programs Disclosure [Line Items]
Change in estimated margins		$ 4,900,000	6,700,000
Reserve for loss		$ 1,600,000
Harbor tug | Minimum
Long Term Contracts Or Programs Disclosure [Line Items]
Projects, percent complete (percentage)		60.00%
Harbor tug | Maximum
Long Term Contracts Or Programs Disclosure [Line Items]
Projects, percent complete (percentage)		93.00%
Ice-Breaker Tug
Long Term Contracts Or Programs Disclosure [Line Items]
Change in estimated margins		$ 1,500,000
Projects, percent complete (percentage)		91.00%
Reserve for loss		$ 100,000
Forty-Vehicle Ferry
Long Term Contracts Or Programs Disclosure [Line Items]
Change in estimated margins		$ 5,100,000
Projects, percent complete (percentage)		28.00%
Reserve for loss		$ 3,000,000
Number of vehicle ferry projects | Vechicle		2
Forty-Vehicle Ferry | Scenario Forecast
Long Term Contracts Or Programs Disclosure [Line Items]
Projects, percent complete (percentage)					53.00%
Paddle Wheel River Boat
Long Term Contracts Or Programs Disclosure [Line Items]
Change in estimated margins		$ 1,300,000
Projects, percent complete (percentage)		88.00%
Reserve for loss		$ 200,000
Jack and Deck
Long Term Contracts Or Programs Disclosure [Line Items]
Change in estimated margins		$ 2,000,000
Projects, percent complete (percentage)		46.00%
Reserve for loss		$ 1,100,000
Subsea Components Project
Long Term Contracts Or Programs Disclosure [Line Items]
Change in estimated margins		$ 1,600,000
Projects, percent complete (percentage)		86.00%
Reserve for loss		$ 200,000
Petrochemical Modules Project
Long Term Contracts Or Programs Disclosure [Line Items]
Change in estimated margins			$ 2,400,000

Impairments and (Gain) Loss o_3

Impairments and (Gain) Loss on Assets Held for Sale - Summary of Impairments and (Gain) Loss on Assets Held for Sale (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Long Lived Assets Held-for-sale [Line Items]
Impairments of AHFS	$ 8,166	$ 2,351	$ 989
Impairments of assets removed from AHFS	1,060
Impairments of assets	17,223	4,445	7,672
(Gain) loss on AHFS and other	305
Gain from insurance proceeds		(3,571)
Other			259
Total	17,528	(6,850)	7,931
South Texas Properties
Long Lived Assets Held-for-sale [Line Items]
Gain on sale of South Texas Properties, net		(7,724)
Fabrication
Long Lived Assets Held-for-sale [Line Items]
Gain on sale of South Texas Properties, net		8,000
Impairments of AHFS	7,842	1,387
Impairments of assets removed from AHFS	1,060
Impairments of assets	8,700		6,700
(Gain) loss on AHFS and other	(369)
Gain from insurance proceeds		(3,571)
Total	8,651	(7,896)	6,683
Fabrication | South Texas Properties
Long Lived Assets Held-for-sale [Line Items]
Gain on sale of South Texas Properties, net		(7,724)
Shipyard
Long Lived Assets Held-for-sale [Line Items]
Impairments of AHFS	324	964	989
Impairments of assets	7,900	1,000	1,200
(Gain) loss on AHFS and other	20
Other			259
Total	7,920	964	1,248
Services
Long Lived Assets Held-for-sale [Line Items]
Total	282	82
Corporate
Long Lived Assets Held-for-sale [Line Items]
(Gain) loss on AHFS and other	654
Total	675
Jennings Yard assets
Long Lived Assets Held-for-sale [Line Items]
Impairments of assets	4,578
Jennings Yard assets | Shipyard
Long Lived Assets Held-for-sale [Line Items]
Impairments of assets	4,578
Lake Charles Yard assets
Long Lived Assets Held-for-sale [Line Items]
Impairments of assets	2,998
Lake Charles Yard assets | Shipyard
Long Lived Assets Held-for-sale [Line Items]
Impairments of assets	2,998
Inventory and Other Assets
Long Lived Assets Held-for-sale [Line Items]
Impairments of assets	421	2,094	6,683
Inventory and Other Assets | Fabrication
Long Lived Assets Held-for-sale [Line Items]
Impairments of assets	118	2,012	$ 6,683
Inventory and Other Assets | Services
Long Lived Assets Held-for-sale [Line Items]
Impairments of assets	282	$ 82
Inventory and Other Assets | Corporate
Long Lived Assets Held-for-sale [Line Items]
Impairments of assets	$ 21

Impairments and (Gain) Loss o_4

Impairments and (Gain) Loss on Assets Held for Sale - Additional Information (Details)	12 Months Ended
	Dec. 31, 2019USD ($)cranemachineDeckbarge	Dec. 31, 2018USD ($)cranemachineDeckbarge	Dec. 31, 2017USD ($)buildingdrydock
Long Lived Assets Held-for-sale [Line Items]
Impairment of asset held for sale	$ 8,166,000	$ 2,351,000	$ 989,000
Impairments of assets removed from AHFS	1,060,000
Impairments of assets	17,223,000	4,445,000	7,672,000
Gain (loss) on sale of assets	369,000	7,724,000	(259,000)
Property, plant and equipment, net	70,484,000	79,930,000
Proceeds from property insurance policy		9,362,000	1,544,000
Insured event, gain (loss)		3,571,000
Proceeds from sale of property, plant and equipment	2,217,000	85,247,000	2,155,000
Fabrication
Long Lived Assets Held-for-sale [Line Items]
Impairment of asset held for sale	7,842,000	1,387,000
Impairments of assets removed from AHFS	1,060,000
Impairments of assets	8,700,000		6,700,000
Gain (loss) on disposition		8,000,000
Inventory impairment		2,000,000
Inventory scrap value		200,000
Fabrication | Specialty and High-Grade Copper Nickel and Steel
Long Lived Assets Held-for-sale [Line Items]
Impairments of assets			3,700,000
Fabrication | Specialty Piping and Valves
Long Lived Assets Held-for-sale [Line Items]
Impairments of assets			3,000,000
Jennings Yard assets
Long Lived Assets Held-for-sale [Line Items]
Impairments of assets	4,578,000
Lake Charles Yard assets
Long Lived Assets Held-for-sale [Line Items]
Impairments of assets	2,998,000
Held for sale
Long Lived Assets Held-for-sale [Line Items]
Property, plant and equipment held for sale	9,006,000	18,935,000
Fabrication Division | Held for sale
Long Lived Assets Held-for-sale [Line Items]
Property, plant and equipment held for sale	$ 9,000,000	$ 18,000,000
Number of cranes | crane	3	3
Number of bending roll machines | machine	2	2
Number of deck barges | Deckbarge	1	1
Fabrication Division | Held for sale | Cranes and Plate Bending Roll Machines
Long Lived Assets Held-for-sale [Line Items]
Impairment of asset held for sale	$ 7,800,000
Shipyard Division | Held for sale
Long Lived Assets Held-for-sale [Line Items]
Impairment of asset held for sale		$ 1,000,000	$ 1,000,000
Number of drydocks | drydock			3
Number of drydocks sold | drydock			2
Proceeds from sale of property, plant and equipment			$ 2,000,000
Asset impairment and (gain) loss on assets held for sale, net			300,000
Shipyard Division | Held for sale | Drydock
Long Lived Assets Held-for-sale [Line Items]
Impairment of asset held for sale	300,000
Proceeds from sale of assets	$ 600,000
South Texas Properties
Long Lived Assets Held-for-sale [Line Items]
Gain (loss) on disposition		(7,724,000)
South Texas Properties | Fabrication
Long Lived Assets Held-for-sale [Line Items]
Gain (loss) on disposition		(7,724,000)
South Texas Properties | Disposed of by sale
Long Lived Assets Held-for-sale [Line Items]
Proceeds from sale of productive assets		1,300,000
Gain (loss) on sale of assets		(300,000)
South Texas Fabrication Yards, South Yard | Disposed of by sale
Long Lived Assets Held-for-sale [Line Items]
Proceeds from sale of assets		55,000,000
Proceeds from sale of productive assets		53,800,000
Gain (loss) on disposition		3,900,000
Selling costs		1,200,000
South Texas Fabrication Yards, North Yard
Long Lived Assets Held-for-sale [Line Items]
Property, plant and equipment, net		800,000
South Texas Fabrication Yards, North Yard | Disposed of by sale
Long Lived Assets Held-for-sale [Line Items]
Proceeds from sale of assets		28,000,000
Proceeds from sale of productive assets		27,400,000
Gain (loss) on disposition		4,100,000
Selling costs		600,000
Disposal group, not included in sale		18,800,000
South Texas Fabrication Yards, North Yard, Assets Under Agreement To Sell | Held for sale
Long Lived Assets Held-for-sale [Line Items]
Impairment of asset held for sale		1,400,000
Insurance recoveries			1,300,000
Insured event, gain (loss)		3,600,000	0
South Texas Fabrication Yards | Held for sale
Long Lived Assets Held-for-sale [Line Items]
Proceeds from property insurance policy		9,400,000	6,000,000
Insurance settlement		15,400,000
South Texas Properties, Total Loss Of Buildings | Held for sale
Long Lived Assets Held-for-sale [Line Items]
Insurance recoveries			1,500,000
Insured event, gain (loss)			$ 0
South Texas Properties, Total Loss Of Buildings | Held for sale | Building
Long Lived Assets Held-for-sale [Line Items]
Number of buildings | building			2
Texas North Yard | Held for sale
Long Lived Assets Held-for-sale [Line Items]
Insurance recoveries		9,000,000
Insured event, gain (loss)		$ 0

Impairments and (Gain) Loss o_5

Impairments and (Gain) Loss on Assets Held for Sale - Summary of Assets Held for Sale (Details) - Disposal Group, Held-for-sale, Not Discontinued Operations - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Long Lived Assets Held-for-sale [Line Items]
Machinery and equipment	$ 17,618	$ 27,104
Accumulated depreciation	(8,612)	(8,169)
Total assets held for sale	$ 9,006	$ 18,935

Property, Plant and Equipment_3

Property, Plant and Equipment and Leased Facilities and Equipment - Summary of Property, Plant and Equipment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 214,996	$ 221,073
Accumulated depreciation	(144,512)	(141,143)
Property, plant and equipment, net	70,484	79,930
Land
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 4,972	4,972
Buildings
Property, Plant and Equipment [Line Items]
Property, plant and equipment, estimated useful life	25 years
Property, plant and equipment, gross	$ 35,580	34,696
Machinery and equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	126,622	132,155
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	2,288	2,497
Transportation equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 2,521	2,627
Improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, estimated useful life	15 years
Property, plant and equipment, gross	$ 40,377	42,182
Construction in progress
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 2,636	$ 1,944
Minimum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, estimated useful life	3 years
Minimum | Machinery and equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, estimated useful life	3 years
Minimum | Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property, plant and equipment, estimated useful life	3 years
Minimum | Transportation equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, estimated useful life	3 years
Maximum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, estimated useful life	25 years
Maximum | Machinery and equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, estimated useful life	25 years
Maximum | Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property, plant and equipment, estimated useful life	5 years
Maximum | Transportation equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, estimated useful life	5 years

Property, Plant and Equipment_4

Property, Plant and Equipment and Leased Facilities and Equipment - Additional Information (Details) $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 31, 2019USD ($)ft²aRenewal_options	Dec. 31, 2019USD ($)ft²aRenewal_options	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Jan. 01, 2019USD ($)
Property, Plant and Equipment [Line Items]
Depreciation and lease asset amortization		$ 9,564	$ 10,350	$ 12,745
Operating lease, right-of-use asset	$ 1,900	1,900
Present value of lease liabilities	2,595	2,595
Decrease in operating lease assets	2,500
Decrease in operating lease liabilities	2,500
Current lease liability	500	500
Long-term lease liability	$ 2,100	2,100
Lease agreement expenses		1,800	$ 1,900	$ 2,000
Operating lease payments		$ 2,000
Operating lease, term of contract	4 years 7 months 6 days	4 years 7 months 6 days
Operating lease, weighted-average discount rate (percentage)	6.75%	6.75%
Houston, Texas
Property, Plant and Equipment [Line Items]
Office space area of leased premises (in sqft or acres) | ft²	17,000	17,000
Jennings, Louisiana
Property, Plant and Equipment [Line Items]
Office space area of leased premises (in sqft or acres) | a	180	180
Jennings, Louisiana | Prospect Shipyard
Property, Plant and Equipment [Line Items]
Lease renewal options | Renewal_options	2	2
Lease renewal term	10 years	10 years
Lake Charles, Louisiana
Property, Plant and Equipment [Line Items]
Office space area of leased premises (in sqft or acres) | a	10	10
Lake Charles, Louisiana | Prospect Shipyard
Property, Plant and Equipment [Line Items]
Lease renewal options | Renewal_options	3	3
Lease renewal term	5 years	5 years
Accounting Standards Update 2016-02
Property, Plant and Equipment [Line Items]
Operating lease, right-of-use asset					$ 7,100
Present value of lease liabilities					5,200
Accounting Standards Update 2016-02 | Off-Market Favorable Lease
Property, Plant and Equipment [Line Items]
Operating lease, right-of-use asset					$ 1,900

Property, Plant and Equipment_5

Property, Plant and Equipment and Leased Facilities and Equipment - Schedule of Minimum Future Rental Payments (Details) $ in Thousands	Dec. 31, 2019USD ($)
Property Plant And Equipment [Abstract]
2020	$ 660
2021	668
2022	677
2023	583
2024	488
Total lease payments	3,076
Less: interest	(481)
Present value of lease liabilities	$ 2,595

Credit Facilities - Additional

Credit Facilities - Additional Information (Details)	Feb. 27, 2020	Dec. 31, 2019USD ($)
Line of Credit Facility [Line Items]
Revolving credit facility		$ 40,000,000
Financial covenants, minimum current assets to current liabilities ratio		1.25
Financial covenants, minimum net worth		$ 130,000,000
Debt instrument, covenant terms percent of proceeds from stock issuance added to net worth requirement (percentage)		100.00%
Minimum cash, cash equivalents, and short-term investments		$ 69,600,000
Financial covenant, maximum funded debt to tangible net worth ratio		0.50
Outstanding borrowings under our Credit Agreement		$ 0
Total outstanding letters of credit		10,200,000
Remaining borrowing capacity on line of credit		29,800
Tangible net worth		$ 153,400,000
Current ratio		1.67
Funded debt to tangible net worth ratio		0.07
Surety bonds		$ 409,900,000
Letter of Credit | Prime Rate
Line of Credit Facility [Line Items]
Basis spread on variable rate (percentage)		4.75%
Letter of Credit | London Interbank Offered Rate (LIBOR)
Line of Credit Facility [Line Items]
Basis spread on variable rate (percentage)		1.76%
Letter of Credit | Subsequent Event
Line of Credit Facility [Line Items]
Stated interest rate (percentage)	2.00%
Letter of Credit | Subsequent Event | London Interbank Offered Rate (LIBOR)
Line of Credit Facility [Line Items]
Basis spread on variable rate (percentage)	2.00%
Revolving Credit Facility | Subsequent Event
Line of Credit Facility [Line Items]
Fees on undrawn borrowings (percentage)	0.40%
Minimum
Line of Credit Facility [Line Items]
Minimum cash, cash equivalents, and short-term investments		$ 40,000,000

Income Taxes - Reconciliation o

Income Taxes - Reconciliation of Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Effective Income Tax Rate Reconciliation, Amount [Abstract]
U.S. statutory rate	$ 10,393	$ 4,159	$ 24,136
Increase (decrease) resulting from:
Permanent differences	(85)	(206)	(330)
State income taxes	173	(571)	366
Other	(13)	374	(118)
Vesting of common stock	13	(19)	(253)
Change in valuation allowance	(10,385)	(4,308)	392
Income tax (expense) benefit	$ 96	$ (571)	$ 24,193
Effective Income Tax Rate Reconciliation, Percent [Abstract]
U.S. statutory rate	21.00%	21.00%	35.00%
Increase (decrease) resulting from:
Permanent differences	(0.20%)	(1.00%)	0.50%
State income taxes	0.40%	(2.90%)	(0.50%)
Other	0.00%	1.90%	0.20%
Vesting of common stock	0.00%	(0.10%)	0.40%
Change in valuation allowance	(21.00%)	(21.70%)	(0.50%)
Income tax (expense) benefit	0.20%	(2.80%)	35.10%

Income Taxes - Components of In

Income Taxes - Components of Income Tax Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Current
Federal	$ 0	$ 0	$ 0
State	86	(317)	(83)
Total current	(86)	317	83
Deferred
Federal	10,308	3,410	24,219
State	87	644	449
Valuation allowance	(10,385)	(4,308)	(392)
Total deferred	(10)	254	(24,276)
Income tax (expense) benefit	$ (96)	$ 571	$ (24,193)

Income Taxes - Components of De

Income Taxes - Components of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Deferred tax assets
Impairments of intangible assets and inventory	$ 644	$ 1,217
Employee benefits	724	758
Accrued losses on uncompleted contracts	3,335	2,380
Stock based compensation expense	312	266
Allowance for doubtful accounts	11	84
Long-term incentive awards	0	150
Federal net operating losses	14,885	9,962
State net operating losses	1,678	1,155
R&D and other tax credits	806	0
Other	426	395
Total deferred tax assets	22,821	16,367
Deferred tax liabilities
Property, plant and equipment and AHFS	(7,523)	(11,416)
Prepaid insurance	(402)	(450)
Total deferred tax liabilities	(7,925)	(11,866)
Net deferred tax assets	14,896	4,501
Valuation allowance	(15,086)	(4,701)
Net deferred taxes	$ (190)	$ (200)

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Tax Contingency [Line Items]
Total deferred tax assets	$ 22,821	$ 16,367
Federal net operating losses	14,885	9,962
Valuation allowance	$ 15,086	$ 4,701
U.S. statutory rate	21.00%	21.00%	35.00%
Domestic Tax Authority
Income Tax Contingency [Line Items]
Operating loss carryforwards	$ 70,900
Operating loss carryforwards subject to expire	$ 42,300
Operating loss carryforwards, limitations on use, description	remaining U.S. federal NOL carryforwards eligible to be carried forward indefinitely, subject to an 80% limitation on taxable income in each year.
Operating loss carryforwards limitation rate on taxable income	80.00%
State and Local Jurisdiction
Income Tax Contingency [Line Items]
Operating loss carryforwards	$ 65,100

Retirement and Long-Term Ince_3

Retirement and Long-Term Incentive Plans - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employer discretionary contribution	$ 800,000
Available shares for future issuance (in shares)	611,887
Share-based compensation cost charged against income	$ 1,774,000	$ 2,795,000	$ 2,741,000
Total unrecognized compensation costs	1,600,000
Total income tax (expense) benefit under share-based compensation	$ 13,000	$ (19,000)	$ (300,000)
Recognition of compensation cost, weighted average period	2 years
Value of awards granted	$ 1,000,000
Total fair value of shares vested	$ 2,900,000
Outstanding stock option awards	0
Stock option awards granted	0	0	0
Non-employee directors
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock vesting period	6 months
Employee Stock Option | Long Term Incentive Plan 1997
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized (in shares)	1,000,000
Employee Stock Option | Long Term Incentive Plan 2002
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized (in shares)	500,000
Employee Stock Option | Long Term Incentive Plan 2011
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized (in shares)	500,000
Employee Stock Option | Long Term Incentive Plan 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized (in shares)	1,000,000
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock vesting period	3 years
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance period awards are earned	3 years
Performance based share compensation benefit due to reversal of previously recognized expense	$ 1,700,000
Performance based share compensation expense		$ 1,100,000	$ 1,500,000
Amount accrued for stock-based performance award granted	0
Payout earned for performance based shares granted	0
Fair value of performance based shares granted		$ 3,800,000	$ 4,700,000
Cash-Based Performance Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance based share compensation expense	$ 0
Performance period awards are earned	3 years
Target amounts payable associated with performance period	$ 500,000

Retirement and Long-Term Ince_4

Retirement and Long-Term Incentive Plans - Summary of Status of Restricted Stock Awards (Details) - $ / shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Document Fiscal Year Focus	2019
Restricted Stock
Number of Shares
Restricted shares at the beginning of period (in shares)	526,438	445,126	370,565
Granted (in shares)	170,936	440,185	383,121
Vested (in shares)	(255,449)	(250,219)	(215,478)
Forfeited (in shares)	(155,777)	(108,654)	(93,082)
Restricted shares at the end of period (in shares)	286,148	526,438	445,126
Weighted- Average Grant-Date Fair Value Per Share
Restricted shares at the beginning of period (USD per share)	$ 11.56	$ 12.83	$ 12.99
Granted (USD per share)	6.09	11.16	13.02
Vested (USD per share)	11.41	10.93	12.52
Forfeited (USD per share)	11.81	12.01	12.53
Restricted shares at the end of period (USD per share)	$ 8.30	$ 11.56	$ 12.83

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) $ in Millions	Dec. 31, 2019USD ($)vessel	Dec. 31, 2018USD ($)	Mar. 31, 2018vessel
Commitments And Contingencies Disclosure [Abstract]
Number of multi-purpose service vessels | vessel	2		2
Net contract asset | $	$ 12.5	$ 12.5

Loss Per Share - Computation of

Loss Per Share - Computation of Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Earnings Per Share [Abstract]
Net loss	$ (34,325)	$ (6,779)	$ (5,248)	$ (3,042)	$ (4,682)	$ (10,949)	$ 549	$ (5,296)	$ (49,394)	$ (20,378)	$ (44,766)
Less: distributed dividends from unvested restricted stock									0	0	3
Net loss attributable to common shareholders									$ (49,394)	$ (20,378)	$ (44,769)
Weighted average shares									15,227	15,032	14,838
Basic and diluted loss per common share	$ (2.26)	$ (0.44)	$ (0.34)	$ (0.20)	$ (0.31)	$ (0.73)	$ 0.04	$ (0.36)	$ (3.24)	$ (1.36)	$ (3.02)

Loss Per Share - Computation _2

Loss Per Share - Computation of Basic and Diluted Earnings Per Share (Parenthetical) (Details) - shares shares in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Earnings Per Share [Abstract]
Dilutive securities (in shares)	0	0	0

Operating Segments - Additional

Operating Segments - Additional Information (Details) - segment	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Segment Reporting [Abstract]
Number of operating segments	3	4
Number of corporate non-operating segments	1	1

Operating Segments - Summarized

Operating Segments - Summarized Segment Financial Information (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Segment Reporting Information [Line Items]
Revenue	$ 79,445	$ 75,802	$ 80,456	$ 67,605	$ 60,231	$ 49,712	$ 54,014	$ 57,290	$ 303,308	$ 221,247	$ 171,022
Gross profit (loss)	(13,269)	$ (2,685)	$ (1,598)	$ 553	(3,964)	$ (3,212)	$ (699)	$ 679	(16,999)	(7,196)	(42,925)
Operating income (loss)									(50,021)	(19,665)	(68,610)
Depreciation and amortization expense									9,564	10,350	12,745
Capital expenditures									3,790	3,481	4,834
Total Assets	252,777				258,290				252,777	258,290	270,840
Fabrication
Segment Reporting Information [Line Items]
Revenue									70,052	40,420	58,078
Shipyard
Segment Reporting Information [Line Items]
Revenue									159,217	96,424	52,699
Services
Segment Reporting Information [Line Items]
Revenue									81,706	88,230	65,445
Operating Segments | Fabrication
Segment Reporting Information [Line Items]
Revenue									70,052	40,420	58,078
Gross profit (loss)									(11,249)	(7,840)	(1,900)
Operating income (loss)									(22,101)	(4,813)	(11,969)
Depreciation and amortization expense									3,534	4,315	6,592
Capital expenditures									810	216	2,395
Total Assets	55,066				64,076				55,066	64,076	155,929
Operating Segments | Shipyard
Segment Reporting Information [Line Items]
Revenue									159,217	96,424	52,699
Gross profit (loss)									(10,949)	(10,472)	(44,870)
Operating income (loss)									(21,352)	(14,396)	(50,044)
Depreciation and amortization expense									4,167	4,229	4,073
Capital expenditures									1,827	2,003	1,909
Total Assets	97,409				97,197				97,409	97,197	74,516
Operating Segments | Services
Segment Reporting Information [Line Items]
Revenue									81,706	88,230	65,445
Gross profit (loss)									5,516	12,447	4,575
Operating income (loss)									3,329	9,371	1,874
Depreciation and amortization expense									1,450	1,511	1,676
Capital expenditures									1,153	1,244	403
Total Assets	28,336				38,643				28,336	38,643	32,487
Corporate
Segment Reporting Information [Line Items]
Revenue									(7,667)	(3,827)	(5,200)
Gross profit (loss)									(317)	(1,331)	(730)
Operating income (loss)									(9,897)	(9,827)	(8,471)
Depreciation and amortization expense									413	295	404
Capital expenditures									0	18	127
Total Assets	$ 71,966				$ 58,374				$ 71,966	$ 58,374	$ 7,908

Operating Segments - Summariz_2

Operating Segments - Summarized Segment Financial Information (Parenthetical) (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Segment Reporting Information [Line Items]
Asset impairments			$ 17,223	$ 4,445	$ 7,672
Gain on insurance recoveries				3,571
Corporate
Segment Reporting Information [Line Items]
Restructuring costs			700
Fabrication
Segment Reporting Information [Line Items]
Increase in operating loss due to project charges			8,400	2,400
Asset impairments			8,700		6,700
Asset impairments, gains on the sale of assets and insurance proceeds				8,200
Gain on sale of South Texas Properties, net				8,000
Shipyard
Segment Reporting Information [Line Items]
Increase in operating loss due to project charges		$ 5,800	7,200	6,700	34,500
Asset impairments			7,900	1,000	$ 1,200
Services
Segment Reporting Information [Line Items]
Increase in operating loss due to project charges			$ 1,600
Fabrication and Shipyard
Segment Reporting Information [Line Items]
Increase in operating loss due to project charges	$ 13,800
Asset impairments				$ 3,400

Quarterly Operating Results (_3

Quarterly Operating Results (Unaudited) - Summary of Quarterly Results of Operations (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract]
Revenue	$ 79,445	$ 75,802	$ 80,456	$ 67,605	$ 60,231	$ 49,712	$ 54,014	$ 57,290	$ 303,308	$ 221,247	$ 171,022
Gross profit (loss)	(13,269)	(2,685)	(1,598)	553	(3,964)	(3,212)	(699)	679	(16,999)	(7,196)	(42,925)
Net income (loss)	$ (34,325)	$ (6,779)	$ (5,248)	$ (3,042)	$ (4,682)	$ (10,949)	$ 549	$ (5,296)	$ (49,394)	$ (20,378)	$ (44,766)
Basic and diluted loss per share	$ (2.26)	$ (0.44)	$ (0.34)	$ (0.20)	$ (0.31)	$ (0.73)	$ 0.04	$ (0.36)	$ (3.24)	$ (1.36)	$ (3.02)

Quarterly Operating Results (_4

Quarterly Operating Results (Unaudited) - Summary of Quarterly Results of Operations (Parenthetical) (Details) - USD ($) $ in Thousands	3 Months Ended			12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Quarterly Financial Information Disclosure [Line Items]
Impairments and (gain) loss on assets held for sale				$ 17,528	$ (6,850)	$ 7,931
Proceeds collection of receivables			$ 2,800
Gain on sale		$ 4,100		584	(268)	35
Impairment charges related to inventory and assets		3,000
Fabrication and Shipyard
Quarterly Financial Information Disclosure [Line Items]
Increase in operating loss due to project charges	$ 13,800
Fabrication, Shipyard and Services
Quarterly Financial Information Disclosure [Line Items]
Impairments and (gain) loss on assets held for sale	$ 17,300
Shipyard
Quarterly Financial Information Disclosure [Line Items]
Increase in operating loss due to project charges		$ 5,800		7,200	6,700	34,500
Impairments and (gain) loss on assets held for sale				$ 7,920	$ 964	$ 1,248

Subsequent Events - Additional

Subsequent Events - Additional Information (Details) - USD ($) $ in Millions	Feb. 28, 2020	Dec. 31, 2019
Subsequent Event [Line Items]
Customer change order settlement amount		$ 0
Subsequent Event
Subsequent Event [Line Items]
Payment from customer change order settlement	$ 10