Property and Equipment

3 Months Ended

Mar. 31, 2015

Property, Plant and Equipment [Abstract]

The following is a summary of property and equipment at March 31, 2015 and December 31, 2014:



	March 31, 2015			December 31, 2014
Automobiles and trucks	$	2,209		$	2,006
Building and improvements	28,726			28,641
Construction equipment	147,221			146,088
Dredges and dredging equipment	99,491			96,275
Office equipment	4,991			4,891
	282,638			277,901
Less: accumulated depreciation	(166,282		)	(161,276		)
Net book value of depreciable assets	116,356			116,625
Construction in progress	5,827			5,274
Land	39,874			39,874
	$	162,057		$	161,773

For the three months ended March 31, 2015, and 2014, depreciation expense was $5.4 million and $5.6 million, respectively. Substantially all depreciation expense is included in the cost of contract revenue in the Company’s Condensed Consolidated Statements of Operations. The assets of the Company are pledged as collateral under the Company's Credit Agreement (as defined in Note 10).

The Company’s long-lived assets are substantially located in the United States.

- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

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