Revenues

6 Months Ended

Jun. 30, 2024

Revenue from Contract with Customer [Abstract]

Revenues

(3) Revenues

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

	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Marine transportation segment:
Inland transportation	$	391,835	$	351,807	$	777,842	$	689,695
Coastal transportation		92,973		75,155		182,378		149,762
	$	484,808	$	426,962	$	960,220	$	839,457
Distribution and services segment:
Commercial and industrial	$	165,658	$	152,045	$	308,282	$	305,099
Power generation		107,783		99,006		243,452		189,315
Oil and gas		66,141		99,235		120,458		193,821
	$	339,582	$	350,286	$	672,192	$	688,235

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 six months ended June 30, 2024 and 2023 that were included in the opening contract liability balances were $81.5 million and $60.3 million, respectively. The Company presents all contract liabilities within the deferred revenues financial statement caption on the balance sheets. The Company did not have any contract assets at June 30, 2024 or December 31, 2023. 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.