Property and Equipment (Tables)

12 Months Ended

Dec. 31, 2012

Property, Plant and Equipment [Abstract]

Depreciation is computed using the straight-line method over the estimated useful lives of the related assets for financial statement purposes, as follows:



Automobiles and trucks	3 to 5 years
Buildings and improvements	5 to 30 years
Construction equipment	3 to 15 years
Vessels and dredges	1 to 15 years
Office equipment	1 to 5 years

The following is a summary of property and equipment at December 31, 2012 and December 31, 2011:



	December 31, 2012			December 31, 2011
Automobiles and trucks	$	1,591		$	1,541
Building and improvements	22,037			13,520
Construction equipment	140,835			132,317
Dredges and dredging equipment	96,927			96,278
Office equipment	4,095			3,882
	265,485			247,538
Less: accumulated depreciation	(136,556		)	(119,440		)
Net book value of depreciable assets	128,929			128,098
Construction in progress	6,949			8,655
Land	14,793			9,354
	$	150,671		$	146,107

- Definition

Tabular disclosure of the useful life and salvage value of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software.

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