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Revenue (Tables)

6 Months Ended

Jun. 30, 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, are as follows:

		Three Months Ended								Six Months Ended
		June 30,								June 30,
Revenues		2023				2022				2023				2022
Dredging:
Capital—U.S.		$	38,157			$	89,693			$	70,632			$	190,704
Coastal protection			56,490				45,119				107,795				117,036
Maintenance			35,809				12,648				107,737				32,460
Rivers & lakes			2,211				1,968				4,547				3,577
Total revenues		$	132,667			$	149,428			$	290,711			$	343,777

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

		Three Months Ended								Six Months Ended
		June 30,								June 30,
Revenues		2023				2022				2023				2022
Dredging:
Federal government		$	107,368			$	95,360			$	249,530			$	262,934
State and local government			25,299				50,922				41,181				75,523
Private			-				3,146				-				5,320
Total revenues		$	132,667			$	149,428			$	290,711			$	343,777

Schedule of Accounts Receivable

Accounts receivable at June 30, 2023 and December 31, 2022 are as follows:

		June 30,				December 31,
		2023				2022
Completed contracts		$	3,428			$	4,682
Contracts in progress			30,447				32,546
Retainage			9,725				8,226
			43,600				45,454
Allowance for credit losses			(564	)			(564	)
Total accounts receivable—net		$	43,036			$	44,890

Components of Contracts in Progress

The components of contracts in progress at June 30, 2023 and December 31, 2022 are as follows:

		June 30,				December 31,
		2023				2022
Costs and earnings in excess of billings:
Costs and earnings for contracts in progress		$	324,309			$	262,125
Amounts billed			(290,209	)			(210,068	)
Costs and earnings in excess of billings for contracts in progress			34,100				52,057
Costs and earnings in excess of billings for completed contracts			9,106				14,972
Total contract revenues in excess of billings		$	43,206			$	67,029
Current portion of contract revenues in excess of billings		$	43,206			$	65,922
Long-term contract revenues in excess of billings			-				1,107
Total contract revenues in excess of billings		$	43,206			$	67,029
Billings in excess of costs and earnings:
Amounts billed		$	(163,342	)		$	(95,013	)
Costs and earnings for contracts in progress			139,376				85,099
Total billings in excess of contract revenues		$	(23,966	)		$	(9,914	)

X

- Definition

Tabular disclosure of long-term contract or program.

+ References

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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
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-5

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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
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.3,4)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1

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