Revenue from Contract with Customer [Text Block] | 3. REVENUES Performance Obligations A performance obligation is a promise in a contract to transfer a distinct good or service to the customer, and is the unit of account in FASB ASC 606. not not not The Company’s performance obligations are satisfied over time as work progresses or at a point in time. Revenues from products and services transferred to customers over time accounted for 90.6% and 92.3% of revenues for the quarters ended June 30, 2020 2019, 606 55 255, not June 30, 2020 2019, On June 30, 2020, June 30, 2020 Contract Estimates Accounting for long-term contracts involves the use of various techniques to estimate total contract revenue and costs. For long-term contracts, the Company estimates the profit on a contract as the difference between the total estimated revenue and expected costs to complete a contract, and recognizes that profit over the life of the contract. Contract estimates are based on various assumptions to project the outcome of future events that sometimes span multiple years. These assumptions include labor productivity and availability; the complexity of the work to be performed; the cost and availability of materials; the performance of subcontractors; and the availability and timing of funding from the customer. The Company’s contracts do not not not not The Company’s estimates of variable consideration and determination of whether to include estimated amounts in the transaction price are based largely on an assessment of anticipated performance and all information (historical, current and forecasted) that is reasonably available. Revenue by Category The following tables summarize revenues by segment and geography (in thousands): Quarter Ended June 30, 2020 Quarter Ended June 30, 2019 Infrastructure Solutions Corrosion Protection Energy Services Total Infrastructure Solutions Corrosion Protection Energy Services Total Geographic region: United States $ 114,705 $ 30,608 $ 52,134 $ 197,447 $ 110,957 $ 43,326 $ 85,704 $ 239,987 Canada 14,205 10,790 — 24,995 18,934 14,458 — 33,392 Europe 4,131 3,061 — 7,192 12,888 4,493 — 17,381 Other foreign 4,351 11,032 — 15,383 12,661 15,319 — 27,980 Total revenues $ 137,392 $ 55,491 $ 52,134 $ 245,017 $ 155,440 $ 77,596 $ 85,704 $ 318,740 Six Months Ended June 30, 2020 Six Months Ended June 30, 2019 Infrastructure Solutions Corrosion Protection Energy Services Total Infrastructure Solutions Corrosion Protection Energy Services Total Geographic region: United States $ 218,123 $ 69,347 $ 143,197 $ 430,667 $ 208,848 $ 73,347 $ 166,567 $ 448,762 Canada 25,228 21,622 — 46,850 29,545 27,915 — 57,460 Europe 11,773 6,090 — 17,863 25,413 7,971 — 33,384 Other foreign 12,512 24,500 — 37,012 23,177 32,861 — 56,038 Total revenues $ 267,636 $ 121,559 $ 143,197 $ 532,392 $ 286,983 $ 142,094 $ 166,567 $ 595,644 The following tables summarize revenues by segment and contract type (in thousands): Quarter Ended June 30, 2020 Quarter Ended June 30, 2019 Infrastructure Solutions Corrosion Protection Energy Services Total Infrastructure Solutions Corrosion Protection Energy Services Total Contract type: Fixed fee $ 121,395 $ 38,382 $ 1,213 $ 160,990 $ 136,212 $ 53,055 $ 1,291 $ 190,558 Time and materials — 9,835 50,921 60,756 — 17,283 84,413 101,696 Product sales 15,997 7,274 — 23,271 19,184 7,258 — 26,442 License fees — — — — 44 — — 44 Total revenues $ 137,392 $ 55,491 $ 52,134 $ 245,017 $ 155,440 $ 77,596 $ 85,704 $ 318,740 Six Months Ended June 30, 2020 Six Months Ended June 30, 2019 Infrastructure Solutions Corrosion Protection Energy Services Total Infrastructure Solutions Corrosion Protection Energy Services Total Contract type: Fixed fee $ 233,906 $ 82,637 $ 2,943 $ 319,486 $ 255,127 $ 95,628 $ 2,210 $ 352,965 Time and materials — 22,805 140,254 163,059 — 32,259 164,357 196,616 Product sales 33,730 16,117 — 49,847 31,662 14,207 — 45,869 License fees — — — — 194 — — 194 Total revenues $ 267,636 $ 121,559 $ 143,197 $ 532,392 $ 286,983 $ 142,094 $ 166,567 $ 595,644 Contract Balances The timing of revenue recognition, billings and cash collections results in billed accounts receivable, contract assets and contract liabilities on the Consolidated Balance Sheets. Contract assets represent work performed that could not not one For fixed fee and time-and-materials based contracts, amounts are billed as work progresses in accordance with agreed-upon contractual terms, either at periodic intervals or upon achievement of contractual milestones. Generally, billing occurs subsequent to revenue recognition, resulting in contract assets. For some royalty license arrangements, minimum amounts are billed over the license term as quarterly royalty amounts are determined. This results in contract assets as the Company recognizes revenue for the license when the license is transferred to the customer at contract inception. The Company’s contract liabilities consist of advance payments, billings in excess of revenue recognized and deferred revenue. The Company’s contract assets and contract liabilities are reported in a net position on a contract-by-contract basis at the end of each reporting period. Advance payments, billings in excess of revenue recognized and deferred revenue are each classified as current. Net contract assets (liabilities) consisted of the following (in thousands): June 30, 2020 (1) December 31, 2019 (2) Contract assets – current $ 43,278 $ 51,092 Contract liabilities – current (37,512 ) (37,562 ) Net contract assets $ 5,766 $ 13,530 ( 1 Amounts exclude contract assets of $0.7 million and contract liabilities of less than $0.1 million that were classified as held for sale at June 30, 2020 5 ( 2 Amounts exclude contract assets of $5.4 million and contract liabilities of $0.1 million that were classified as held for sale at December 31, 2019 5 Substantially all of the $37.6 million and $32.3 million contract liabilities balances at December 31, 2019 December 31, 2018 first six 2020 2019 |