Property and Equipment

6 Months Ended

Jun. 30, 2026

Property, Plant and Equipment [Abstract]

Property and Equipment

7.Property and Equipment

The following is a summary of property and equipment at June 30, 2026 and December 31, 2025:

	June 30,		December 31,
	2026		2025
Construction equipment	$	147,753	$	113,863
Vessels and other equipment		103,603		98,505
Building and improvements		36,229		36,229
Office equipment		6,175		5,999
Automobiles and trucks		1,593		1,429
Gross book value of depreciable assets		295,353		256,025
Less: Accumulated depreciation		(197,369)		(185,650)
Net book value of depreciable assets		97,984		70,375
Construction in progress		22,003		15,143
Land		9,642		2,692
Property and equipment, net of depreciation	$	129,629	$	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.