Current report filing

Summary of Significant Accounting Policies (Tables)

v3.22.2.2
Summary of Significant Accounting Policies (Tables)
 6 Months Ended
Jun. 30, 2022
Accounting Policies [Abstract]  
Schedule of Inventories
    June 30,
2022		     December 31,
2021		  
Raw material and supplies   $ 520,274     $
         —
  
Work in progress     1,860,155      
—
  
Finished goods    
—
      
—
  
Total inventories   $ 2,380,429     $
—
  

 
Schedule of components of revenue
    Three months ended
June 30,		     Six months ended
June 30,		  
    2022     2021     2022     2021  
Cost plus fixed fee   $ 2,212,061     $ 969,326     $ 3,635,320     $ 1,272,069  
Firm fixed-price     399,165      
—
       833,537          
Firm fixed-price-vehicle lease     378,333      
—
       756,667      
—
  
Total   $ 2,989,559     $ 969,326     $ 5,225,524     $ 1,272,069  

 
Schedule of minimum future rental income
Minimum Future Rental Income
Year ended December 31, 2022		   Amount  
2022 (remainder)   $ 756,667  
Thereafter    
—
  
Total   $ 756,667  

 
Schedule of expected revenue from our remaining performance obligations
    Expected Revenue from Unfulfilled Performance Obligations by Period  
($ in millions)   Total     Remainder of
2022		     2023     2024     2025  
Unfulfilled performance obligations:                              
Triumph Subsea Construction Limited   $ 54.2     $ 7.7     $ 19.4     $ 13.6     $ 13.5  
All other performance obligations     7.5       5.7       1.8      
—
      
—
  
Total unfulfilled performance obligations   $ 61.7     $ 13.4     $ 21.2     $ 13.6     $ 13.5