Property and Equipment

3 Months Ended

Mar. 31, 2026

Property, Plant and Equipment [Abstract]

Property and Equipment

7.Property and Equipment

The following is a summary of property and equipment at March 31, 2026 and December 31, 2025:

	March 31,		December 31,
	2026		2025
Construction equipment	$	141,930	$	113,863
Vessels and other equipment		99,708		98,505
Building and improvements		36,229		36,229
Office equipment		6,007		5,999
Automobiles and trucks		1,354		1,429
Gross book value of depreciable assets		285,228		256,025
Less: Accumulated depreciation		(189,573)		(185,650)
Net book value of depreciable assets		95,655		70,375
Construction in progress		20,147		15,143
Land		9,642		2,692
Property and equipment, net of depreciation	$	125,444	$	88,210

Substantially all of the assets of the Company are pledged as collateral under the Company’s UMB Credit Agreement as discussed in Note 10. Substantially all of the Company’s long-lived assets are located in the United States.