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Revenues
 12 Months Ended
Dec. 31, 2021
Revenues [Abstract]  
Revenues

(3) Revenues

The following table sets forth the Company’s revenues by major source (in thousands):

 

 

 

Year Ended December 31,

 

 

 

2021

 

 

2020

 

 

2019

 

Marine transportation segment:

 

 

 

 

 

 

 

 

 

Inland transportation

 

$

1,005,145

 

 

$

1,094,630

 

 

$

1,220,878

 

Coastal transportation

 

 

317,773

 

 

 

309,635

 

 

 

366,204

 

 

 

$

1,322,918

 

 

$

1,404,265

 

 

$

1,587,082

 

Distribution and services segment:

 

 

 

 

 

 

 

 

 

Commercial and industrial

 

$

578,011

 

 

$

566,326

 

 

$

591,953

 

Oil and gas

 

 

345,731

 

 

 

200,817

 

 

 

659,364

 

 

 

$

923,742

 

 

$

767,143

 

 

$

1,251,317

 

 

The Company’s revenue is measured based on consideration specified in its contracts with its customers. The Company recognizes revenue over time as it provides services to its customers, or at the point in time that control over a part or product transfers to its customer.

Contract Assets and Liabilities. Contract liabilities represent advance consideration received from customers, and are recognized as revenue over time or at a point in time as the related performance obligation is satisfied. Revenues recognized during the years ended December 31, 2021, 2020, and 2019, that were included in the opening contract liability balances were $40,925,000, $38,455,000 and $76,412,000, respectively. 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, 2021 or December 31, 2020. The Company applies the practical expedient that allows non-disclosure of information about remaining performance obligations that have original expected durations of one year or less.