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| Segment Reporting [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Segment Information | 15.Segment Information The Company has determined that it has two reportable segments pursuant to ASC Topic 280, Segment Reporting. The tools used by the chief operating decision maker (“CODM”) to allocate resources and assess performance are based on two reportable and operating segments: marine and concrete, which operate under the Orion brand and logo. In making this determination, the Company considered the similar economic characteristics of each segment’s operations, including internal processes, customer base, regulatory oversight, and macroeconomic factors that drive each. Both the marine and concrete segments have a single individual responsible for managing the entire segment. Resources are allocated by segment and financial and budgetary information is compiled and reviewed by segment. Marine Segment Our marine segment provides construction, dredging and specialty services. Construction services include construction, restoration, maintenance, dredging and repair of marine transportation facilities, marine pipelines, bridges and causeways and marine environmental structures. Dredging services generally enhance or preserve the navigability of waterways or the protection of shorelines through the removal or replenishment of soil, sand or rock. Specialty services include design, salvage, demolition, surveying, towing, diving and underwater inspection, excavation and repair. Concrete Segment Our concrete segment provides turnkey concrete construction services, including concrete surface place and finish, site preparation, layout, forming, and rebar placement for large commercial, structural and other associated business areas. Segment information for the periods presented is provided as follows:
There were $0.6 million and $1.1 million in intersegment revenues between the Company’s two reportable segments for the three months ended June 30, 2025 and 2024, respectively. There were $1.6 million and $1.7 million in intersegment revenues between the Company’s two reportable segments for the six months ended June 30, 2025 and 2024, respectively. |
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