Revenues

9 Months Ended

Sep. 30, 2023

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 September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
Marine transportation segment:
Inland transportation	$	353,635	$	345,052	$	1,043,330	$	939,910
Coastal transportation		76,250		87,988		226,012		254,321
	$	429,885	$	433,040	$	1,269,342	$	1,194,231
Distribution and services segment:
Commercial and industrial	$	211,485	$	165,361	$	581,275	$	474,515
Oil and gas		123,402		147,442		441,847		385,843
	$	334,887	$	312,803	$	1,023,122	$	860,358

Contract liabilities represent advance consideration received from customers, and are recognized as revenue over time as the related performance obligation is satisfied. Revenues recognized during the nine months ended September 30, 2023 and 2022 that were included in the opening contract liability balances were $76.8 million and $54.6 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 September 30, 2023 or December 31, 2022. 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.