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Revenue (Tables) | 12 Months Ended
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Dec. 31, 2023
Revenue from Contract with Customer [Abstract] |
Summary of Type of Work and Customer, Contract Revenues | The following table sets forth, by type of work, the Company’s contract revenues for the years ended December 31, 2023, 2022 and 2021:
Revenues |  | 2023 |  |  | 2022 |  |  | 2021 |
Dredging: |  |  |  |  |  |  |  |  |
Capital—U.S. |  | $ | 186,715 |  |  | $ | 342,461 |  |  | $ | 397,034 |
Capital—foreign |  |  | — |  |  |  | 149 |  |  |  | 6,596 |
Coastal protection |  |  | 196,343 |  |  |  | 192,567 |  |  |  | 169,678 |
Maintenance |  |  | 187,586 |  |  |  | 98,077 |  |  |  | 132,551 |
Rivers & lakes |  |  | 16,318 |  |  |  | 15,527 |  |  |  | 20,290 |
Total dredging revenues |  | $ | 586,962 |  |  | $ | 648,781 |  |  | $ | 726,149 |
Offshore Wind: |  |  |  |  |  |  |  |  |
Offshore Wind |  |  | 2,663 |  |  |  | — |  |  |  | — |
Total revenues |  | $ | 589,625 |  |  | $ | 648,781 |  |  | $ | 726,149 |
The following table sets forth, by type of customer, the Company’s contract revenues for the years ended December 31, 2023, 2022 and 2021:
Revenues |  | 2023 |  |  | 2022 |  |  | 2021 |
Dredging: |  |  |  |  |  |  |  |  |
Federal government |  | $ | 438,790 |  |  | $ | 431,705 |  |  | $ | 568,980 |
State and local government |  |  | 129,583 |  |  |  | 207,033 |  |  |  | 118,712 |
Private |  |  | 18,589 |  |  |  | 9,894 |  |  |  | 31,861 |
Foreign |  |  | — |  |  |  | 149 |  |  |  | 6,596 |
Total dredging revenues |  | $ | 586,962 |  |  | $ | 648,781 |  |  | $ | 726,149 |
Offshore wind: |  |  |  |  |  |  |  |  |
Offshore wind |  |  | 2,663 |  |  |  | — |  |  |  | — |
Total revenues |  | $ | 589,625 |  |  | $ | 648,781 |  |  | $ | 726,149 |
Schedule of Accounts Receivable | Accounts receivable at December 31, 2023 and December 31, 2022 are as follows:
|  | 2023 |  |  | 2022 |
Completed contracts |  | $ | 2,920 |  |  | $ | 4,682 |
Contracts in progress |  |  | 40,743 |  |  |  | 32,546 |
Retainage |  |  | 11,511 |  |  |  | 8,226 |
|  |  | 55,174 |  |  |  | 45,454 |
Allowance for doubtful accounts |  |  | (364 | ) |  |  | (564 | )
Total accounts receivable—net |  | $ | 54,810 |  |  | $ | 44,890 |
Components of Contracts in Progress | The components of contracts in progress at December 31, 2023 and December 31, 2022 are as follows:
|  | 2023 |  |  | 2022 |
Costs and earnings in excess of billings: |  |  |  |  |  |
Costs and earnings for contracts in progress |  | $ | 206,330 |  |  | $ | 262,125 |
Amounts billed |  |  | (196,520 | ) |  |  | (210,068 | )
Costs and earnings in excess of billings for contracts in progress |  |  | 9,810 |  |  |  | 52,057 |
Costs and earnings in excess of billings for completed contracts |  |  | 58,925 |  |  |  | 14,972 |
Total contract revenues in excess of billings |  | $ | 68,735 |  |  | $ | 67,029 |
Current portion of contract revenues in excess of billings |  | $ | 68,735 |  |  | $ | 65,922 |
Long-term contract revenues in excess of billings |  |  | — |  |  |  | 1,107 |
Total contract revenues in excess of billings |  | $ | 68,735 |  |  | $ | 67,029 |
Billings in excess of costs and earnings: |  |  |  |  |  |
Amounts billed |  | $ | (258,948 | ) |  | $ | (95,013 | )
Costs and earnings for contracts in progress |  |  | 229,388 |  |  |  | 85,099 |
Total billings in excess of contract revenues |  | $ | (29,560 | ) |  | $ | (9,914 | )
Summary of Revenues and Gross Profit from Foreign Project Operations | The Company derived revenues and gross loss from foreign project operations for the years ended December 31, 2023, 2022, and 2021, as follows:
|  | 2023 |  |  | 2022 |  |  | 2021 |
Contract revenues |  | $ | — |  |  | $ | 149 |  |  | $ | 6,596 |
Costs of contract revenues |  |  | (1,142 | ) |  |  | (341 | ) |  |  | (9,281 | )
Gross loss |  | $ | (1,142 | ) |  | $ | (192 | ) |  | $ | (2,685 | )

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