XML 33 R25.htm IDEA: XBRL DOCUMENT
v3.25.1

Revenue (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2025
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 |
|  | March 31, |
Revenues |  | 2025 |  |  | 2024 |
Dredging: |  |  |  |  |  |
Capital—U.S. |  | $ | 91,120 |  |  | $ | 69,900 |
Coastal protection |  |  | 120,302 |  |  |  | 63,926 |
Maintenance |  |  | 31,443 |  |  |  | 64,834 |
Total revenues |  | $ | 242,865 |  |  | $ | 198,660 |
The Company’s contract revenues by type of customer, for the periods indicated, are as follows:
|  | Three Months Ended |
|  | March 31, |
Revenues |  | 2025 |  |  | 2024 |
Dredging: |  |  |  |  |  |
Federal government |  | $ | 134,408 |  |  | $ | 134,789 |
State and local government |  |  | 36,394 |  |  |  | 47,700 |
Private |  |  | 72,063 |  |  |  | 16,171 |
Total revenues |  | $ | 242,865 |  |  | $ | 198,660 |
Schedule of Accounts Receivable | Accounts receivable at March 31, 2025 and December 31, 2024 are as follows:
|  | 2025 |  |  | 2024 |
Completed contracts |  | $ | 8,328 |  |  | $ | 660 |
Contracts in progress |  |  | 96,511 |  |  |  | 105,159 |
Retainage |  |  | 8,827 |  |  |  | 12,575 |
|  |  | 113,666 |  |  |  | 118,394 |
Allowance for credit losses |  |  | (364 | ) |  |  | (364 | )
Total accounts receivable—net |  | $ | 113,302 |  |  | $ | 118,030 |
Components of Contracts in Progress | The components of contracts in progress at March 31, 2025 and December 31, 2024 are as follows:
|  | March 31, |  |  | December 31, |
|  | 2025 |  |  | 2024 |
Costs and earnings in excess of billings: |  |  |  |  |  |
Costs and earnings for contracts in progress |  | $ | 203,252 |  |  | $ | 206,933 |
Amounts billed |  |  | (141,491 | ) |  |  | (153,208 | )
Costs and earnings in excess of billings for contracts in progress |  |  | 61,761 |  |  |  | 53,725 |
Costs and earnings in excess of billings for completed contracts |  |  | 17,203 |  |  |  | 20,472 |
Total contract revenues in excess of billings |  | $ | 78,964 |  |  | $ | 74,197 |
Current portion of contract revenues in excess of billings |  | $ | 78,964 |  |  | $ | 74,197 |
Billings in excess of costs and earnings: |  |  |  |  |  |
Amounts billed |  | $ | (450,700 | ) |  | $ | (303,810 | )
Costs and earnings for contracts in progress |  |  | 420,331 |  |  |  | 278,014 |
Total billings in excess of contract revenues |  | $ | (30,369 | ) |  | $ | (25,796 | )

X
- Definition Tabular disclosure of long-term contract or program. + References No definition available. + Details
Name: | us-gaap_CostsInExcessOfBillingsAndBillingsInExcessOfCostsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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 + Details
Name: | us-gaap_DisaggregationOfRevenueTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_RevenueFromContractWithCustomerAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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 -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(4)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(3)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 + Details
Name: | us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration