Revenues

12 Months Ended

Dec. 31, 2024

Revenue from Contract with Customer [Abstract]

Revenues

(3) Revenues

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

	Year Ended December 31,
	2024		2023		2022
Marine transportation segment:
Inland transportation	$	1,553,232	$	1,416,483	$	1,277,010
Coastal transportation		359,818		305,454		339,957
	$	1,913,050	$	1,721,937	$	1,616,967
Distribution and services segment:
Commercial and industrial	$	621,991	$	624,581	$	576,561
Power generation		484,972		403,576		256,713
Oil and gas		245,863		341,546		334,513
	$	1,352,826	$	1,369,703	$	1,167,787

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, 2024, 2023, and 2022, that were included in the opening contract liability balances were $113.8 million, $84.0 million and $61.7 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, 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.