Summary of Significant Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2014

Depreciable lives of property and equipment

Depreciation is computed using the straight-line method over the estimated useful lives of the related assets for financial statement purposes, as follows:



Automobiles and trucks	3 to 5 years
Buildings and improvements	5 to 30 years
Construction equipment	3 to 15 years
Vessels and dredges	1 to 15 years
Office equipment	1 to 5 years

The following is a summary of property and equipment at March 31, 2014 and December 31, 2013:



	March 31, 2014			December 31, 2013
Automobiles and trucks	$	2,038		$	2,148
Building and improvements	22,828			22,828
Construction equipment	145,770			145,309
Dredges and dredging equipment	93,889			93,963
Office equipment	4,919			4,545
	269,444			268,793
Less: accumulated depreciation	(149,403		)	(144,121		)
Net book value of depreciable assets	120,041			124,672
Construction in progress	3,422			2,458
Land	36,992			14,793
	$	160,455		$	141,923