Restructuring Charges

6 Months Ended

Jun. 30, 2019

Restructuring And Related Activities [Abstract]

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 three and six months ended June 30, 2018 are summarized as follows:

	Three Months Ended			Six Months Ended
	June 30, 2018			June 30, 2018

Costs of contract revenues—depreciation	$	1,676		$	4,668
Costs of contract revenues—other		(274	)		993
General and administrative expenses		(28	)		(21	)
Loss on sale of assets—net		(840	)		(847	)
Other expense		—			2,015
Total	$	534		$	6,808

The Company had accrued severance expense of $41 and $662 at June 30, 2019 and December 31, 2018, respectively, which are expected to be settled in 2019. Accrued severance is included in accrued expenses.