| Summarized Segment Financial Information |
Summarized financial information concerning our segments as of and for the three-year period ended December 31, 2016 is as follows (in thousands):
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December 31, 2016 |
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Fabrication |
Shipyards (1), (2)
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Services |
Corp. & Eliminations |
Consolidated |
Revenue |
$ |
88,683 |
|
$ |
109,502 |
|
$ |
91,414 |
|
$ |
(3,273 |
) |
$ |
286,326 |
|
Gross profit |
5,061 |
|
7,587 |
|
12,205 |
|
— |
|
24,853 |
|
Operating income (loss) |
(1,039 |
) |
(163 |
) |
6,568 |
|
(183 |
) |
5,183 |
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Depreciation expense |
18,566 |
|
4,686 |
|
1,775 |
|
421 |
|
25,448 |
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Capital expenditures |
2,633 |
|
1,861 |
|
1,495 |
|
806 |
|
6,795 |
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Total Assets |
$ |
272,292 |
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$ |
81,928 |
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$ |
96,404 |
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$ |
(128,216 |
) |
$ |
322,408 |
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December 31, 2015 |
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Fabrication |
Shipyards |
Services |
Corp. & Eliminations |
Consolidated |
Revenue |
$ |
151,576 |
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$ |
59,601 |
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$ |
100,431 |
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$ |
(5,488 |
) |
$ |
306,120 |
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Gross profit (loss) |
(37,541 |
) |
8,665 |
|
13,726 |
|
(6 |
) |
(15,156 |
) |
Operating income (loss) |
(54,036 |
) |
6,973 |
|
9,548 |
|
(1,099 |
) |
(38,614 |
) |
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Depreciation expense |
22,045 |
|
1,921 |
|
1,733 |
|
505 |
|
26,204 |
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Capital expenditures |
3,360 |
|
1,206 |
|
1,379 |
|
73 |
|
6,018 |
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Total Assets |
$ |
310,790 |
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$ |
54,543 |
|
$ |
94,618 |
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$ |
(143,028 |
) |
$ |
316,923 |
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December 31, 2014 |
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Fabrication |
Shipyards |
Services |
Corp. & Eliminations |
Consolidated |
Revenue |
$ |
303,880 |
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$ |
79,197 |
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$ |
132,107 |
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$ |
(8,545 |
) |
$ |
506,639 |
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Gross profit (loss) |
19,418 |
|
4,922 |
|
20,258 |
|
(42 |
) |
44,556 |
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Operating income (loss) |
4,079 |
|
3,262 |
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17,502 |
|
(896 |
) |
23,947 |
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Depreciation expense |
22,524 |
|
1,805 |
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1,612 |
|
495 |
|
26,436 |
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Capital expenditures |
23,245 |
|
2,135 |
|
2,083 |
|
195 |
|
27,658 |
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Total Assets |
$ |
396,806 |
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$ |
63,090 |
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$ |
95,385 |
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$ |
(157,338 |
) |
$ |
397,943 |
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____________
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(1) |
Included in our results of operations for our Shipyards division was revenue and net (loss) income of $75.6 million and ($1.8 million), for the year ended December 31, 2016, respectively, attributable to the assets and operations acquired in the LEEVAC transaction. No amounts were included in the comparable 2015 or 2014 periods as the LEEVAC transaction was effective January 1, 2016. See also Note 2.
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(2) |
Revenue for the year ended December 31, 2016 includes $5.2 million of non-cash amortization of deferred revenue, related to the values assigned to contracts acquired in the LEEVAC transaction.
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