Revenue

6 Months Ended

Jun. 30, 2019

Revenue From Contract With Customer [Abstract]

At June 30, 2019, the Company had $498,089 of remaining performance obligations, which the Company refers to as total backlog. Approximately 64% of the Company’s backlog will be completed in 2019 with the remaining balance expected to be completed by 2020.

Revenue by category

The following series of tables presents our revenue disaggregated by several categories.

Domestically, our work generally is performed in coastal waterways and deep water ports. The U.S. dredging market consists of four primary types of work: capital, coastal protection, maintenance and rivers & lakes. Foreign projects typically involve capital work.

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

	Three Months Ended				Six Months Ended
	June 30,				June 30,
Revenues	2019		2018		2019		2018
Dredging:
Capital—U.S.	$	59,406	$	69,651	$	152,150	$	146,603
Capital—foreign		18,640		3,279		26,969		8,802
Coastal protection		58,195		38,121		91,938		79,982
Maintenance		30,188		19,077		59,837		26,880
Rivers & lakes		18,382		5,142		46,554		6,626
Total revenues	$	184,811	$	135,270	$	377,448	$	268,893

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

	Three Months Ended				Six Months Ended
	June 30,				June 30,
Revenues	2019		2018		2019		2018
Dredging:
Federal government	$	126,804	$	92,913	$	296,959	$	169,607
State and local government		36,469		23,346		50,572		69,971
Private		2,898		15,732		2,948		20,513
Foreign		18,640		3,279		26,969		8,802
Total revenues	$	184,811	$	135,270	$	377,448	$	268,893

Contract balances

Accounts receivable at June 30, 2019 and December 31, 2018 are as follows:

	June 30,			December 31,
	2019			2018
Completed contracts	$	6,709		$	8,592
Contracts in progress		37,300			48,418
Retainage		6,958			7,969
		50,967			64,979
Allowance for doubtful accounts		(200	)		(200	)

Total accounts receivable—net	$	50,767		$	64,779

The components of contracts in progress at June 30, 2019 and December 31, 2018 are as follows:

	June 30,			December 31,
	2019			2018
Costs and earnings in excess of billings:
Costs and earnings for contracts in progress	$	282,443		$	433,093
Amounts billed		(258,668	)		(416,956	)
Costs and earnings in excess of billings for contracts in progress		23,775			16,137
Costs and earnings in excess of billings for completed contracts		9,496			3,928
Total contract revenues in excess of billings	$	33,271		$	20,065

Current portion of contract revenues in excess of billings	$	31,159		$	17,953
Long-term contract revenues in excess of billings		2,112			2,112
Total contract revenues in excess of billings	$	33,271		$	20,065

Billings in excess of costs and earnings:
Amounts billed	$	(515,791	)	$	(260,691	)
Costs and earnings for contracts in progress		465,181			242,898
Total billings in excess of contract revenues	$	(50,610	)	$	(17,793	)

For amounts included in billings in excess of contract revenues balance at the beginning of the year, the Company recognized nearly all of the related revenue during the six months ended June 30, 2019.

At June 30, 2019 and December 31, 2018, costs to fulfill a contract with a customer recognized as an asset were $10,046 and $13,129, respectively, and are recorded in other current assets and other noncurrent assets. These costs relate to pre-contract and pre-construction activities. During the three and six months ended June 30, 2019 and 2018, the company amortized $2,998 and $5,749 and $3,968 and $6,465, respectively, of pre-construction costs.