Revenue

3 Months Ended

Mar. 31, 2020

Revenue From Contract With Customer [Abstract]

Revenue

7. Revenue

At March 31, 2020, the Company had $474,895 of remaining performance obligations, which the Company refers to as total backlog. Approximately 90% of the Company’s backlog will be completed in 2020 with the remaining balance expected to be completed in 2021.

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
	March 31,
Revenues	2020		2019
Dredging:
Capital—U.S.	$	83,549	$	92,744
Capital—foreign		6,862		8,329
Coastal protection		79,850		33,743
Maintenance		42,385		29,649
Rivers & lakes		5,049		28,172
Total revenues	$	217,695	$	192,637

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

	Three Months Ended
	March 31,
Revenues	2020		2019
Dredging:
Federal government	$	165,767	$	170,155
State and local government		42,332		14,103
Private		2,734		50
Foreign		6,862		8,329
Total revenues	$	217,695	$	192,637

Contract balances

Accounts receivable at March 31, 2020 and December 31, 2019 are as follows:

	March 31,			December 31,
	2020			2019
Completed contracts	$	9,016		$	3,444
Contracts in progress		28,453			9,490
Retainage		7,109			7,415
		44,578			20,349
Allowance for doubtful accounts		(564	)		(564	)
Total accounts receivable—net	$	44,014		$	19,785

The components of contracts in progress at March 31, 2020 and December 31, 2019 are as follows:

	March 31,			December 31,
	2020			2019
Costs and earnings in excess of billings:
Costs and earnings for contracts in progress	$	327,616		$	104,620
Amounts billed		(300,389	)		(86,074	)
Costs and earnings in excess of billings for contracts in progress		27,227			18,546
Costs and earnings in excess of billings for completed contracts		11,965			6,126
Total contract revenues in excess of billings	$	39,192		$	24,672
Current portion of contract revenues in excess of billings	$	37,080		$	22,560
Long-term contract revenues in excess of billings		2,112			2,112
Total contract revenues in excess of billings	$	39,192		$	24,672
Billings in excess of costs and earnings:
Amounts billed	$	(455,842	)	$	(628,491	)
Costs and earnings for contracts in progress		394,515			573,225
Total billings in excess of contract revenues	$	(61,327	)	$	(55,266	)

At March 31, 2020 and December 31, 2019, costs to fulfill a contract with a customer recognized as an asset were $8,570 and $10,300, 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 months ended March 31, 2020 and 2019, the Company amortized $5,191 and $2,751, respectively, of pre-construction costs.