Revenues

12 Months Ended

Dec. 31, 2019

(3) Revenues

The following table sets forth the Company’s revenues by major source for the years ended December 31, 2019, 2018 and 2017 (in thousands):

	2019		2018		2017
Marine transportation segment:
Inland transportation	$	1,220,878	$	1,119,820	$	923,916
Coastal transportation		366,204		363,323		400,190
	$	1,587,082	$	1,483,143	$	1,324,106

Distribution and services segment:
Oil and gas	$	659,364	$	1,010,410	$	614,128
Commercial and industrial		591,953		477,144		276,184
	$	1,251,317	$	1,487,554	$	890,312

The Company’s revenue is measured based on consideration specified in its contracts with its customers. The Company recognizes revenue as it satisfies performance obligations in its contracts which occur as the Company delivers a service over time to its customers, or transfers control over a part or product to its customer.

Contract Assets and Liabilities. Contract liabilities represent advance consideration received from customers, and are recognized as revenue over time as the related performance obligation is satisfied. The amount of revenue recognized in 2019 that was included in the December 31, 2018 contract liability balance was $76,412,000. The Company has recognized all contract liabilities within the deferred revenues financial statement caption on the balance sheet. The Company did not have any contract assets at December 31, 2019 or December 31, 2018.

Performance Obligations. The Company applies the practical expedient in ASC 606-10-50-14(a) and does not disclose information about remaining performance obligations that have original expected durations of one year or less.