Revenues

12 Months Ended

Dec. 31, 2022

Revenues [Abstract]

Revenues

(3) Revenues

The following table sets forth the Company’s revenues by major source (in thousands):

	Year Ended December 31,
	2022		2021		2020
Marine transportation segment:
Inland transportation	$	1,277,010	$	1,005,145	$	1,094,630
Coastal transportation		339,957		317,773		309,635
	$	1,616,967	$	1,322,918	$	1,404,265
Distribution and services segment:
Commercial and industrial	$	651,566	$	578,011	$	566,326
Oil and gas		516,221		345,731		200,817
	$	1,167,787	$	923,742	$	767,143

The Company’s revenue is measured based on consideration specified in its contracts with its customers. The Company recognizes revenue over time as it provides services to its customers, or at the point in time that control over a part or product transfers to its customer.

Contract Assets and Liabilities. Contract liabilities represent advance consideration received from customers, and are recognized as revenue over time or at a point in time as the related performance obligation is satisfied. Revenues recognized during the years ended December 31, 2022, 2021, and 2020, that were included in the opening contract liability balances were $61.7 million, $40.9 million and $38.5 million, respectively. The Company has recognized all contract liabilities within the deferred revenues financial statement caption on the balance sheet. The Company did not have any contract assets at December 31, 2022 or December 31, 2021. The Company applies the practical expedient that allows non-disclosure of information about remaining performance obligations that have original expected durations of one year or less.