Summary of Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2015

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 June 30, 2015 and December 31, 2014:



	June 30, 2015			December 31, 2014
Automobiles and trucks	$	1,967		$	2,006
Building and improvements	31,480			28,641
Construction equipment	147,417			146,088
Dredges and dredging equipment	95,979			96,275
Office equipment	5,123			4,891
	281,966			277,901
Less: accumulated depreciation	(168,782		)	(161,276		)
Net book value of depreciable assets	113,184			116,625
Construction in progress	5,584			5,274
Land	39,874			39,874
	$	158,642		$	161,773