v3.26.3
Segment Reporting (Tables)
 9 Months Ended
Sep. 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 September 30, 2026
(in thousands)Subsea RoboticsManufactured ProductsOPGIMDSADTechUnallocated ExpensesTotal
Revenue$232,995 $168,156 $172,523 $75,806 $135,074 $— $784,554 
Cost of services and products143,325 133,704 137,319 64,527 111,218 29,903 619,996 
Selling, general and administrative 1
14,307 9,386 10,982 8,527 9,107 20,096 72,405 
Operating income (loss)75,363 25,066 24,222 2,752 14,749 (49,999)92,153 
Interest income— — — — — 5,789 5,789 
Interest expense, net of amounts capitalized— — — — — (8,755)(8,755)
Equity in income (losses) of unconsolidated affiliates— — — — — 357 357 
Gain (loss) on extinguishment of debt— — — — — (19,034)(19,034)
Other income (expense), net— — — — — (1,439)(1,439)
Income (loss) before income taxes$75,363 $25,066 $24,222 $2,752 $14,749 $(73,081)$69,071 
Depreciation and amortization$14,342 $2,753 $4,731 $2,077 $950 $1,725 $26,578 
Capital expenditures, including business acquisitions$14,661 $1,954 $121 $1,137 $2,788 $451 $21,112 
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 Nine Months Ended September 30, 2026
(in thousands)Subsea RoboticsManufactured ProductsOPGIMDSADTechUnallocated ExpensesTotal
Revenue$679,284 $460,834 $490,742 $214,534 $399,773 $— $2,245,167 
Cost of services and products437,804 358,519 386,958 188,658 334,708 89,710 1,796,357 
Selling, general and administrative 1
44,284 29,229 31,199 24,022 25,780 56,118 210,632 
Operating income (loss)197,196 73,086 72,585 1,854 39,285 (145,828)238,178 
Interest income— — — — — 15,754 15,754 
Interest expense, net of amounts capitalized— — — — — (26,316)(26,316)
Equity in income (losses) of unconsolidated affiliates— — — — — 1,844 1,844 
Gain (loss) on extinguishment of debt— — — — — (19,034)(19,034)
Other income (expense), net— — — — — (449)(449)
Income (loss) before income taxes$197,196 $73,086 $72,585 $1,854 $39,285 $(174,029)$209,977 
Depreciation and amortization$42,280 $8,306 $14,165 $5,985 $2,972 $7,470 $81,178 
Capital expenditures, including business acquisitions$34,679 $4,678 $6,930 $5,014 $6,702 $3,694 $61,697 
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.

September 30, 2026
(in thousands)Subsea RoboticsManufactured ProductsOPGIMDSADTechCorporate and OtherTotal
Assets$572,759 $353,691 $465,328 $151,963 $157,816 $1,073,889 $2,775,446 
Property and Equipment, Net$208,980 $56,376 $134,557 $17,088 $13,409 $10,301 $440,711 
Goodwill$23,927 $— $— $16,548 $10,454 $— $50,929 
For the Three Months Ended September 30, 2025
(in thousands)Subsea RoboticsManufactured ProductsOPGIMDSADTechUnallocated ExpensesTotal
Revenue$218,767 $156,395 $171,046 $70,781 $125,909 $— $742,898 
Cost of services and products139,162 121,415 137,757 60,206 101,922 29,704 590,166 
Selling, general and administrative 1
14,463 10,329 9,597 7,819 7,430 16,586 66,224 
Operating income (loss)65,142 24,651 23,692 2,756 16,557 (46,290)86,508 
Interest income— — — — — 3,704 3,704 
Interest expense, net of amounts capitalized— — — — — (9,381)(9,381)
Equity in income (losses) of unconsolidated affiliates— — — — — 97 97 
Other income (expense), net— — — — — (1,021)(1,021)
Income (loss) before income taxes$65,142 $24,651 $23,692 $2,756 $16,557 $(52,891)$79,907 
Depreciation and amortization$13,283 $2,768 $4,290 $1,830 $1,082 $2,870 $26,123 
Capital expenditures, including business acquisitions$12,707 $2,080 $3,553 $871 $1,270 $3,734 $24,215 
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 Nine Months Ended September 30, 2025
(in thousands)Subsea RoboticsManufactured ProductsOPGIMDSADTechUnallocated ExpensesTotal
Revenue$643,529 $436,566 $485,268 $217,566 $332,653 $— $2,115,582 
Cost of services and products411,563 355,556 375,127 183,976 267,055 86,135 1,679,412 
Selling, general and administrative 1
42,687 28,920 29,120 22,725 22,077 51,472 197,001 
Operating income (loss)189,279 52,090 81,021 10,865 43,521 (137,607)239,169 
Interest income— — — — — 10,365 10,365 
Interest expense, net of amounts capitalized— — — — — (27,928)(27,928)
Equity in income (losses) of unconsolidated affiliates— — — — — 770 770 
Other income (expense), net— — — — — 5,325 5,325 
Income (loss) before income taxes$189,279 $52,090 $81,021 $10,865 $43,521 $(149,075)$227,701 
Depreciation and amortization$37,404 $8,159 $13,642 $5,399 $2,815 $8,552 $75,971 
Capital expenditures, including business acquisitions$52,423 $3,413 $13,658 $2,837 $3,121 $5,123 $80,575 
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.
September 30, 2025
(in thousands)Subsea RoboticsManufactured ProductsOPGIMDSADTechCorporate and OtherTotal
Assets$552,015 $412,310 $615,101 $146,285 $144,664 $668,943 $2,539,318 
Property and Equipment, Net$214,912 $60,974 $130,354 $14,996 $7,237 $13,801 $442,274 
Goodwill$23,814 $— $— $16,771 $10,454 $— $51,039