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Revenue (Tables)

3 Months Ended

Mar. 31, 2023

Revenue from Contract with Customer [Abstract]

Summary of Contract Revenues by Type of Work and Customer

The Company’s contract revenues by type of work, for the periods indicated, were as follows:

		Three Months Ended
		March 31,
Revenues		2023				2022
Dredging:
Capital—U.S.		$	32,475			$	101,010
Coastal protection			51,305				71,917
Maintenance			71,928				19,812
Rivers & lakes			2,336				1,610
Total revenues		$	158,044			$	194,349

The Company’s contract revenues by type of customer, for the periods indicated, were as follows:

		Three Months Ended
		March 31,
Revenues		2023				2022
Dredging:
Federal government		$	142,162			$	167,574
State and local government			15,882				24,601
Private			-				2,174
Total revenues		$	158,044			$	194,349

Schedule of Accounts Receivable

Accounts receivable at March 31, 2023 and December 31, 2022 are as follows:

		March 31,				December 31,
		2023				2022
Completed contracts		$	4,983			$	4,682
Contracts in progress			18,146				32,546
Retainage			10,087				8,226
			33,216				45,454
Allowance for credit losses			(564	)			(564	)
Total accounts receivable—net		$	32,652			$	44,890

Components of Contracts in Progress

The components of contracts in progress at March 31, 2023 and December 31, 2022 are as follows:

		March 31,				December 31,
		2023				2022
Costs and earnings in excess of billings:
Costs and earnings for contracts in progress		$	343,316			$	262,125
Amounts billed			(276,822	)			(210,068	)
Costs and earnings in excess of billings for contracts in progress			66,494				52,057
Costs and earnings in excess of billings for completed contracts			14,808				14,972
Total contract revenues in excess of billings		$	81,302			$	67,029
Current portion of contract revenues in excess of billings		$	81,302			$	65,922
Long-term contract revenues in excess of billings			-				1,107
Total contract revenues in excess of billings		$	81,302			$	67,029
Billings in excess of costs and earnings:
Amounts billed		$	(112,333	)		$	(95,013	)
Costs and earnings for contracts in progress			99,889				85,099
Total billings in excess of contract revenues		$	(12,444	)		$	(9,914	)

X

- Definition

Tabular disclosure of long-term contract or program.

+ References

No definition available.

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- Definition

Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130545-203045

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- Definition

Tabular disclosure of the various types of trade accounts and notes receivable and for each the gross carrying value, allowance, and net carrying value as of the balance sheet date. Presentation is categorized by current, noncurrent and unclassified receivables.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.3,4)
-URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

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