Restructuring Charges

12 Months Ended

Dec. 31, 2018

Restructuring And Related Activities [Abstract]

11. RESTRUCTURING CHARGES

In 2017, a strategic review was begun to improve the Company's financial results in both domestic and international operations enabling debt reduction, improvements in return on capital and the continued renewal of our extensive fleet with new and efficient dredges to best serve our domestic and international clients. Management executed a plan to reduce general and administrative and overhead expenses, retire certain underperforming and underutilized assets, write-off pre-contract costs on a project that was never formally awarded and that the Company no longer intends to pursue and closeout the Company’s Brazil operations. The cumulative amounts incurred to date for restructuring charges, including amounts presented in discontinued operations, include severance of $3,549, asset retirements of $32,309, pre-contract costs of $6,441 and closeout costs of $4,194. Restructuring activities were substantially completed in 2018.

Restructuring charges recognized for the above actions for the years ended December 31, 2018 and 2017 are summarized as follows:


	2018		2017

Costs of contract revenues—depreciation	$	6,759	$	6,859
Costs of contract revenues—other		2,292		16,102
General and administrative expenses		185		1,189
Loss on sale of assets—net		4,572		4,691
Other expense		2,337		—
Total		16,145		28,841

The Company accrued severance expense of $662 and $1,403 at December 31, 2018 and December 31, 2017, respectively, which are expected to be settled in 2019. Accrued severance is included in accrued expenses.