v3.26.1
Segment Reporting (Tables)
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Segment Reporting [Table Text Block] The tables that follow present information about our business segments, as well as the Unallocated Expenses category, and include a reconciliation to income (loss) before income taxes:
For the Three Months Ended June 30, 2026
(in thousands)Subsea RoboticsManufactured ProductsOPGIMDSADTechUnallocated ExpensesTotal
Revenue$232,016 $149,030 $182,843 $70,844 $133,451 $— $768,184 
Cost of services and products150,146 117,173 142,672 62,944 108,611 29,656 611,202 
Selling, general and administrative 1
15,545 9,922 10,152 7,800 8,415 16,911 68,745 
Operating income (loss)66,325 21,935 30,019 100 16,425 (46,567)88,237 
Interest income— — — — — 4,904 4,904 
Interest expense, net of amounts capitalized— — — — — (8,456)(8,456)
Equity in income (losses) of unconsolidated affiliates— — — — — 1,210 1,210 
Other income (expense), net— — — — — 182 182 
Income (loss) before income taxes$66,325 $21,935 $30,019 $100 $16,425 $(48,727)$86,077 
Depreciation and amortization$14,220 $2,779 $4,679 $1,966 $1,016 $2,769 $27,429 
Capital expenditures, including business acquisitions$11,495 $1,642 $4,408 $1,636 $2,567 $1,432 $23,180 
1For all reportable segments, Selling, general and administrative expense primarily includes payroll and related costs including subcontractors and temporary labor, lease and rental expense, maintenance and supplies expense, insurance expense and certain overhead expenses.
For the Six Months Ended June 30, 2026
(in thousands)Subsea RoboticsManufactured ProductsOPGIMDSADTechUnallocated ExpensesTotal
Revenue$446,289 $292,678 $318,219 $138,728 $264,699 $— $1,460,613 
Cost of services and products294,479 224,815 249,639 124,131 223,490 59,807 1,176,361 
Selling, general and administrative 1
29,977 19,843 20,217 15,495 16,673 36,022 138,227 
Operating income (loss)121,833 48,020 48,363 (898)24,536 (95,829)146,025 
Interest income— — — — — 9,965 9,965 
Interest expense, net of amounts capitalized— — — — — (17,561)(17,561)
Equity in income (losses) of unconsolidated affiliates— — — — — 1,487 1,487 
Other income (expense), net— — — — — 990 990 
Income (loss) before income taxes$121,833 $48,020 $48,363 $(898)$24,536 $(100,948)$140,906 
Depreciation and amortization$27,938 $5,553 $9,434 $3,908 $2,022 $5,745 $54,600 
Capital expenditures, including business acquisitions$20,018 $2,724 $6,809 $3,877 $3,914 $3,243 $40,585 
1For all reportable segments, Selling, general and administrative expense primarily includes payroll and related costs including subcontractors and temporary labor, lease and rental expense, maintenance and supplies expense, insurance expense and certain overhead expenses.

June 30, 2026
(in thousands)Subsea RoboticsManufactured ProductsOPGIMDSADTechCorporate and OtherTotal
Assets$567,134 $381,065 $490,504 $149,121 $152,032 $948,982 $2,688,838 
Property and Equipment, Net$206,959 $57,274 $139,777 $17,086 $10,568 $11,565 $443,229 
Goodwill$23,809 $— $— $16,526 $10,454 $— $50,789 
For the Three Months Ended June 30, 2025
(in thousands)Subsea RoboticsManufactured ProductsOPGIMDSADTechUnallocated ExpensesTotal
Revenue$218,786 $145,134 $149,281 $75,367 $109,593 $— $698,161 
Cost of services and products138,839 116,474 117,307 62,882 85,640 28,592 549,734 
Selling, general and administrative 1
15,442 9,888 10,311 7,838 7,654 18,105 69,238 
Operating income (loss)64,505 18,772 21,663 4,647 16,299 (46,697)79,189 
Interest income— — — — — 3,017 3,017 
Interest expense, net of amounts capitalized— — — — — (9,472)(9,472)
Equity in income (losses) of unconsolidated affiliates— — — — — 311 311 
Other income (expense), net— — — — — 5,371 5,371 
Income (loss) before income taxes$64,505 $18,772 $21,663 $4,647 $16,299 $(47,470)$78,416 
Depreciation and amortization$12,385 $2,741 $4,663 $1,839 $900 $2,872 $25,400 
Capital expenditures, including business acquisitions$20,800 $549 $5,810 $515 $1,251 $1,347 $30,272 
1For all reportable segments, Selling, general and administrative expense primarily includes payroll and related costs including subcontractors and temporary labor, lease and rental expense, maintenance and supplies expense, insurance expense and certain overhead expenses.

For the Six Months Ended June 30, 2025
(in thousands)Subsea RoboticsManufactured ProductsOPGIMDSADTechUnallocated ExpensesTotal
Revenue$424,762 $280,171 $314,222 $146,785 $206,744 $— $1,372,684 
Cost of services and products272,401 234,141 237,370 123,770 165,133 56,431 1,089,246 
Selling, general and administrative 1
28,224 18,591 19,523 14,906 14,647 34,886 130,777 
Operating income (loss)124,137 27,439 57,329 8,109 26,964 (91,317)152,661 
Interest income— — — — — 6,661 6,661 
Interest expense, net of amounts capitalized— — — — — (18,547)(18,547)
Equity in income (losses) of unconsolidated affiliates— — — — — 673 673 
Other income (expense), net— — — — — 6,346 6,346 
Income (loss) before income taxes$124,137 $27,439 $57,329 $8,109 $26,964 $(96,184)$147,794 
Depreciation and amortization$24,121 $5,391 $9,352 $3,569 $1,733 $5,682 $49,848 
Capital expenditures, including business acquisitions$39,716 $1,333 $10,105 $1,966 $1,851 $1,389 $56,360 
1For all reportable segments, Selling, general and administrative expense primarily includes payroll and related costs including subcontractors and temporary labor, lease and rental expense, maintenance and supplies expense, insurance expense and certain overhead expenses.
June 30, 2025
(in thousands)Subsea RoboticsManufactured ProductsOPGIMDSADTechCorporate and OtherTotal
Assets$504,997 $371,000 $456,908 $128,980 $138,144 $727,553 $2,327,582 
Property and Equipment, Net$219,903 $61,495 $130,655 $15,408 $7,141 $11,065 $445,667 
Goodwill$23,813 $— $— $17,116 $10,454 $— $51,383