Revenues

12 Months Ended

Dec. 31, 2020

Revenues [Abstract]

Revenues

(3) Revenues

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

	Year Ended December 31,
	2020		2019		2018
Marine transportation segment:
Inland transportation	$	1,094,630	$	1,220,878	$	1,119,820
Coastal transportation		309,635		366,204		363,323
	$	1,404,265	$	1,587,082	$	1,483,143

Distribution and services segment:
Oil and gas	$	200,817	$	659,364	$	1,010,410
Commercial and industrial		566,326		591,953		477,144
	$	767,143	$	1,251,317	$	1,487,554

The Company’s revenue is measured based on consideration specified in its contracts with its customers. The Company recognizes revenue as it satisfies performance obligations in its contracts which occur as the Company delivers a service over time to its customers, or at the point in time that it transfers control over a part or product to its customer.

Contract Assets and Liabilities. 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 years ended December 31, 2020 and 2019 that were included in the opening contract liability balances were $38,455,000 and $76,412,000, 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, 2020 or December 31, 2019.

Performance Obligations. 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.