v3.25.2
Revenues
 6 Months Ended
Jun. 30, 2025
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,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Marine transportation segment:

 

 

 

 

 

 

 

 

 

 

 

 

Inland transportation

 

$

397,141

 

 

$

391,835

 

 

$

789,640

 

 

$

777,842

 

Coastal transportation

 

 

95,421

 

 

 

92,973

 

 

 

179,071

 

 

 

182,378

 

 

$

492,562

 

 

$

484,808

 

 

$

968,711

 

 

$

960,220

 

Distribution and services segment:

 

 

 

 

 

 

 

 

 

 

 

 

Commercial and industrial

 

$

173,606

 

 

$

165,658

 

 

$

333,834

 

 

$

308,282

 

Power generation

 

 

140,739

 

 

 

107,783

 

 

 

245,241

 

 

 

243,452

 

Oil and gas

 

 

48,548

 

 

 

66,141

 

 

 

93,328

 

 

 

120,458

 

 

 

$

362,893

 

 

$

339,582

 

 

$

672,403

 

 

$

672,192

 

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, 2025 and 2024 that were included in the opening contract liability balances were $94.7 million and $81.5 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 as of June 30, 2025 or December 31, 2024.