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Revenue (Tables)

6 Months Ended

Jun. 30, 2024

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		2024				2023				2024				2023
Dredging:
Capital—U.S.		$	70,747			$	38,157			$	140,647			$	70,632
Coastal protection			70,195				56,490				134,121				107,795
Maintenance			28,464				35,809				92,875				107,737
Rivers & lakes			680				2,211				1,103				4,547
Total revenues		$	170,086			$	132,667			$	368,746			$	290,711

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		2024				2023				2024				2023
Dredging:
Federal government		$	118,687			$	107,368			$	253,476			$	249,530
State and local government			21,463				25,299				69,163				41,181
Private			29,936				-				46,107				—
Total revenues		$	170,086			$	132,667			$	368,746			$	290,711

Schedule of Accounts Receivable

Accounts receivable at June 30, 2024 and December 31, 2023 are as follows:

		June 30,				December 31,
		2024				2023
Completed contracts		$	6,810			$	2,920
Contracts in progress			42,027				40,743
Retainage			7,806				11,511
			56,643				55,174
Allowance for credit losses			(364	)			(364	)
Total accounts receivable—net		$	56,279			$	54,810

Components of Contracts in Progress

The components of contracts in progress at June 30, 2024 and December 31, 2023 are as follows:

		June 30,				December 31,
		2024				2023
Costs and earnings in excess of billings:
Costs and earnings for contracts in progress		$	300,495			$	206,330
Amounts billed			(246,366	)			(196,520	)
Costs and earnings in excess of billings for contracts in progress			54,129				9,810
Costs and earnings in excess of billings for completed contracts			16,380				58,925
Total contract revenues in excess of billings		$	70,509			$	68,735
Current portion of contract revenues in excess of billings		$	70,509			$	68,735
Long-term contract revenues in excess of billings			—				—
Total contract revenues in excess of billings		$	70,509			$	68,735
Billings in excess of costs and earnings:
Amounts billed		$	(155,330	)		$	(258,948	)
Costs and earnings for contracts in progress			134,756				229,388
Total billings in excess of contract revenues		$	(20,574	)		$	(29,560	)

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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