XML 18 R12.htm IDEA: XBRL DOCUMENT v3.24.1.u1
Revenues
 3 Months Ended
Mar. 31, 2024
Revenue from Contract with Customer [Abstract]  
Revenues

(3) Revenues

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

 

 

 

Three Months Ended March 31,

 

 

 

2024

 

 

2023

 

Marine transportation segment:

 

 

 

 

 

 

Inland transportation

 

$

386,007

 

 

$

337,888

 

Coastal transportation

 

 

89,405

 

 

 

74,607

 

 

$

475,412

 

 

$

412,495

 

Distribution and services segment:

 

 

 

 

 

 

Commercial and industrial

 

$

142,624

 

 

$

153,054

 

Power generation

 

 

135,669

 

 

 

90,309

 

Oil and gas

 

 

54,317

 

 

 

94,586

 

 

 

$

332,610

 

 

$

337,949

 

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 three months ended March 31, 2024 and 2023 that were included in the opening contract liability balances were $54.4 million and $38.8 million, respectively. The Company presents all contract liabilities within the deferred revenues financial statement caption on the balance sheets. The Company did not have any contract assets at March 31, 2024 or December 31, 2023. 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.