Great Lakes Dredge & Dock (GLDD) 10-Q 5 Nov 19 2019 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2019	Oct. 31, 2019
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q3
Trading Symbol	GLDD
Entity Registrant Name	Great Lakes Dredge & Dock CORP
Entity Central Index Key	0001372020
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Shell Company	false
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Address, Address Line One	2122 York Road
Entity Address, City or Town	Oak Brook
Entity Address, State or Province	IL
Entity Common Stock, Shares Outstanding		63,919,970
Entity Current Reporting Status	Yes
Entity File Number	001-33225
Entity Tax Identification Number	20-5336063
City Area Code	630
Local Phone Number	574-3000
Entity Address, Postal Zip Code	60523
Entity Interactive Data Current	Yes
Title of 12(b) Security	Common Stock (Par Value $0.0001)
Security Exchange Name	NASDAQ
Entity Incorporation, State or Country Code	DE
Document Quarterly Report	true
Document Transition Report	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($)	Sep. 30, 2019	Dec. 31, 2018
CURRENT ASSETS:
Cash and cash equivalents	$ 180,855,000	$ 34,458,000
Accounts receivable—net	31,043,000	64,779,000
Contract revenues in excess of billings	25,383,000	17,953,000
Inventories	27,547,000	28,112,000
Prepaid expenses and other current assets	31,626,000	36,617,000
Assets held for sale		24,779,000
Total current assets	296,454,000	206,698,000
PROPERTY AND EQUIPMENT—Net	374,798,000	369,863,000
OPERATING LEASE ASSETS	72,039,000
GOODWILL AND OTHER INTANGIBLE ASSETS—Net	76,576,000	76,576,000
INVENTORIES—Noncurrent	63,007,000	61,264,000
OTHER	9,894,000	15,870,000
TOTAL	892,768,000	730,271,000
LIABILITIES AND EQUITY
Accounts payable	77,074,000	71,537,000
Accrued expenses	49,891,000	48,351,000
Operating lease liabilities	20,847,000
Billings in excess of contract revenues	69,387,000	17,793,000
Revolving credit facility	0	11,500,000
Liabilities held for sale		13,940,000
Total current liabilities	217,199,000	163,121,000
LONG-TERM DEBT	322,619,000	321,950,000
OPERATING LEASE LIABILITIES—Noncurrent	50,969,000
DEFERRED INCOME TAXES	36,526,000	22,846,000
OTHER	3,631,000	7,426,000
Total liabilities	630,944,000	515,343,000
COMMITMENTS AND CONTINGENCIES (Note 10)
EQUITY:
Common stock—$.0001 par value; 90,000 authorized, 63,916 and 62,830 shares issued; 63,916 and 62,552 shares outstanding at September 30, 2019 and December 31, 2018, respectively.	6,000	6,000
Treasury stock, at cost		(1,433,000)
Additional paid-in capital	301,874,000	295,135,000
Accumulated deficit	(39,064,000)	(74,971,000)
Accumulated other comprehensive loss	(992,000)	(3,809,000)
Total equity	261,824,000	214,928,000
TOTAL	$ 892,768,000	$ 730,271,000

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2019	Dec. 31, 2018
Statement Of Financial Position [Abstract]
Common stock, par value	$ 1	$ 1
Common stock, shares authorized	90,000,000	90,000,000
Common stock, shares issued	63,916,000	62,830,000
Common stock, shares outstanding	63,916,000	62,552,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Income Statement [Abstract]
Contract revenues	$ 169,775	$ 178,671	$ 547,223	$ 447,564
Type of Revenue [Extensible List]	gldd:ContractMember	gldd:ContractMember	gldd:ContractMember	gldd:ContractMember
Costs of contract revenues	$ 137,942	$ 139,087	$ 428,027	$ 371,718
Type of Cost, Good or Service [Extensible List]	gldd:ContractMember	gldd:ContractMember	gldd:ContractMember	gldd:ContractMember
Gross profit	$ 31,833	$ 39,584	$ 119,196	$ 75,846
General and administrative expenses	13,488	14,343	42,926	39,668
(Gain) loss on sale of assets—net	(27)	1,521	333	265
Operating income	18,372	23,720	75,937	35,913
Interest expense—net	(6,335)	(8,058)	(21,074)	(25,702)
Other income (expense)	(22)	71	273	(1,961)
Income from continuing operations before income taxes	12,015	15,733	55,136	8,250
Income tax provision	(3,204)	(3,853)	(14,280)	(2,196)
Income from continuing operations	8,811	11,880	40,856	6,054
Loss from discontinued operations, net of income taxes	(859)	(178)	(7,490)	(4,647)
Net income	$ 7,952	$ 11,702	$ 33,366	$ 1,407
Basic earnings per share attributable to continuing operations	$ 0.14	$ 0.19	$ 0.64	$ 0.10
Basic loss per share attributable to discontinued operations, net of tax	(0.02)		(0.12)	(0.08)
Basic earnings per share	$ 0.12	$ 0.19	$ 0.52	$ 0.02
Basic weighted average shares	63,861	62,358	63,449	62,147
Diluted earnings per share attributable to continuing operations	$ 0.14	$ 0.19	$ 0.63	$ 0.10
Diluted loss per share attributable to discontinued operations, net of tax	(0.02)		(0.12)	(0.08)
Diluted earnings per share	$ 0.12	$ 0.19	$ 0.51	$ 0.02
Diluted weighted average shares	65,071	63,260	64,860	63,340

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Statement Of Income And Comprehensive Income [Abstract]
Net income		$ 7,952	$ 11,702	$ 33,366	$ 1,407
Currency translation adjustment—net of tax	[1]		(14)		1,290
Net change in cash flow derivative hedges—net of tax	[2]	(160)	(201)	2,817	(1,062)
Other comprehensive income (loss)—net of tax		(160)	(215)	2,817	228
Comprehensive income		$ 7,792	$ 11,487	$ 36,183	$ 1,635
[1]	Net of income tax benefit (provision) of $21 and $(551) for the three and nine months ended September 30, 2018, respectively.
[2]	Net of income tax provision of $57 and $242 for the three months ended September 30, 2019 and 2018, respectively. Net of income tax benefit (provision) of $998 and $(1,191) for the nine months ended September 30, 2019 and 2018 respectively.

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Statement Of Income And Comprehensive Income [Abstract]
Currency translation adjustment, tax		$ 21		$ (551)
Net change in cash flow derivative hedges, tax	$ 57	$ 242	$ 998	$ (1,191)

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Equity - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock [Member]	Treasury Stock [Member]	Additional Paid-In Capital [Member]	Accumulated Deficit [Member]	Accumulated Other Comprehensive Income (Loss) [Member]
BALANCE - value at Dec. 31, 2017	$ 221,296	$ 6	$ (1,433)	$ 289,821	$ (67,101)	$ 3
BALANCE - shares at Dec. 31, 2017		61,897	(278)
Cumulative effect of recent accounting pronouncements	(1,577)				(1,577)
Share-based compensation, value	3,294			3,294
Share-based compensation, shares		105
Vesting of restricted stock units, including impact of shares withheld for taxes, value	(1,075)			(1,075)
Vesting of restricted stock units, including impact of shares withheld for taxes, shares		492
Exercise of options and purchases from employee stock plans, value	862			862
Exercise of options and purchases from employee stock plans, shares		236
Net income (loss)	1,407				1,407
Other comprehensive income—net of tax	228					228
BALANCE - value at Sep. 30, 2018	224,435	$ 6	$ (1,433)	292,902	(67,271)	231
BALANCE - shares at Sep. 30, 2018		62,730	(278)
BALANCE - value at Jun. 30, 2018	211,514	$ 6	$ (1,433)	291,468	(78,973)	446
BALANCE - shares at Jun. 30, 2018		62,583	(278)
Share-based compensation, value	1,030			1,030
Share-based compensation, shares		33
Vesting of restricted stock units, including impact of shares withheld for taxes, value	(15)			(15)
Vesting of restricted stock units, including impact of shares withheld for taxes, shares		6
Exercise of options and purchases from employee stock plans, value	419			419
Exercise of options and purchases from employee stock plans, shares		108
Net income (loss)	11,702				11,702
Other comprehensive income—net of tax	(215)					(215)
BALANCE - value at Sep. 30, 2018	224,435	$ 6	$ (1,433)	292,902	(67,271)	231
BALANCE - shares at Sep. 30, 2018		62,730	(278)
BALANCE - value at Dec. 31, 2018	214,928	$ 6	$ (1,433)	295,135	(74,971)	(3,809)
BALANCE - shares at Dec. 31, 2018		62,830	(278)
Cumulative effect of recent accounting pronouncements	2,802				2,802
Share-based compensation, value	6,720			6,720
Share-based compensation, shares		60
Vesting of restricted stock units, including impact of shares withheld for taxes, value	(3,164)			(3,164)
Vesting of restricted stock units, including impact of shares withheld for taxes, shares		605
Exercise of options and purchases from employee stock plans, value	4,355			4,355
Exercise of options and purchases from employee stock plans, shares		699
Cancellation of treasury stock			$ 1,433	(1,172)	(261)
Cancellation of treasury stock, shares		(278)	278
Net income (loss)	33,366				33,366
Other comprehensive income—net of tax	2,817					2,817
BALANCE - value at Sep. 30, 2019	261,824	$ 6		301,874	(39,064)	(992)
BALANCE - shares at Sep. 30, 2019		63,916
BALANCE - value at Jun. 30, 2019	251,478	$ 6		299,320	(47,016)	(832)
BALANCE - shares at Jun. 30, 2019		63,769
Share-based compensation, value	2,190			2,190
Share-based compensation, shares		15
Vesting of restricted stock units, including impact of shares withheld for taxes, value	(235)			(235)
Vesting of restricted stock units, including impact of shares withheld for taxes, shares		51
Exercise of options and purchases from employee stock plans, value	599			599
Exercise of options and purchases from employee stock plans, shares		81
Net income (loss)	7,952				7,952
Other comprehensive income—net of tax	(160)					(160)
BALANCE - value at Sep. 30, 2019	$ 261,824	$ 6		$ 301,874	$ (39,064)	$ (992)
BALANCE - shares at Sep. 30, 2019		63,916

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
OPERATING ACTIVITIES:
Net income	$ 33,366	$ 1,407
Loss from discontinued operations, net of income taxes	(7,490)	(4,647)
Income from continuing operations	40,856	6,054
Adjustments to reconcile net income to net cash flows provided by operating activities:
Depreciation and amortization	26,772	38,100
Deferred income taxes	14,382	(716)
Loss on sale of assets	333	265
Other non-cash restructuring items		2,015
Amortization of deferred financing fees	2,344	2,637
Unrealized foreign currency gain		(215)
Share-based compensation expense	5,234	2,829
Changes in assets and liabilities:
Accounts receivable	33,736	(16,495)
Contract revenues in excess of billings	(7,430)	45,875
Inventories	(1,178)	(202)
Prepaid expenses and other current assets	454	12,514
Accounts payable and accrued expenses	13,384	4,507
Billings in excess of contract revenues	51,594	(607)
Other noncurrent assets and liabilities	1,556	(4,148)
Net cash flows provided by operating activities from continuing operations	182,037	92,413
Net cash flows used in operating activities of discontinued operations	(8,757)	(3,479)
Cash provided by operating activities	173,280	88,934
INVESTING ACTIVITIES:
Purchases of property and equipment	(37,608)	(29,636)
Proceeds from dispositions of property and equipment	5,557	12,059
Net cash flows used in investing activities of continuing operations	(32,051)	(17,577)
Net cash flows provided by investing activities of discontinued operations	18,056	151
Cash used in investing activities	(13,995)	(17,426)
FINANCING ACTIVITIES:
Deferred financing fees	(2,388)
Repayments of debt		(297)
Taxes paid on settlement of vested share awards	(3,164)	(1,075)
Exercise of options and purchases from employee stock plans	4,355	862
Borrowings under revolving loans		18,000
Repayments of revolving loans	(11,500)	(82,118)
Net cash flows used in financing activities of continuing operations	(12,697)	(64,628)
Net cash flows used in financing activities of discontinued operations	(191)	(1,131)
Cash used in financing activities	(12,888)	(65,759)
Effect of foreign currency exchange rates on cash and cash equivalents		26
Net increase in cash, cash equivalents and restricted cash	146,397	5,775
Cash, cash equivalents and restricted cash at beginning of period	34,458	17,352
Cash, cash equivalents and restricted cash at end of period	180,855	23,127
Supplemental Cash Flow Information
Cash paid for interest	12,396	17,402
Cash paid for income taxes	344	255
Non-cash Investing and Financing Activities
Property and equipment purchased but not yet paid	$ 4,455	3,920
Repayments of debt with proceeds from sale-leaseback transactions		$ 13,034

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2019
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Basis of Presentation	1. Basis of presentation The unaudited condensed consolidated financial statements and notes herein should be read in conjunction with the audited consolidated financial statements of Great Lakes Dredge & Dock Corporation and Subsidiaries (the “Company” or “Great Lakes”) and the notes thereto, included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018. The condensed consolidated financial statements included herein have been prepared by the Company without audit, pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) have been condensed or omitted pursuant to the SEC’s rules and regulations, although management believes that the disclosures are adequate and make the information presented not misleading. In the opinion of management, all adjustments, which are of a normal and recurring nature (except as otherwise noted), that are necessary to present fairly the Company’s financial position as of September 30, 2019, and its results of operations for the three and nine months ended September 30, 2019 and 2018 and cash flows for the nine months ended September 30, 2019 and 2018 have been included. The Company adopted Accounting Standard Update No. 2016-02, Leases (Topic 842) and subsequently issued other Accounting Standard Updates related to the Accounting Standards Codification Topic 842 (collectively, “ASC 842”) on January 1, 2019. The Financial Accounting Standards Board (“FASB”) issued ASC 842 to increase the transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. The Company adopted ASC 842 using the package of practical expedients that allowed entities to retain the classification of lease contracts existing as of the date of adoption. Additionally, the Company has elected to combine lease and non-lease components, such as common area maintenance costs, in calculating the operating lease assets and operating lease liabilities for all asset groups except for the Company’s dredges. Further, the Company adopted ASC 842 using the transition method under which entities initially applied ASC 842 at the adoption date and recognized a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption. Under this method, the comparative periods presented in the financial statements prior to the adoption date were not adjusted to apply ASC 842. Upon the adoption of ASC 842, the Company recorded a cumulative net adjustment of $2,802 to the beginning retained earnings balance. The components of costs of contract revenues include labor, equipment (including depreciation, maintenance, insurance and long-term rentals), subcontracts, fuel, supplies, short-term rentals and project overhead. Hourly labor is generally hired on a project-by-project basis. Costs of contract revenues vary significantly depending on the type and location of work performed and assets utilized. The Company has one operating segment which is also the Company’s reportable segment and reporting unit of which the Company tests goodwill for impairment. During the second quarter of 2019, the Company entered into an agreement and completed the sale of the historical environmental & infrastructure business. The historical environmental & infrastructure segment has been retrospectively presented as discontinued operations and is no longer reflected in continuing operations. The Company performed its most recent annual test of impairment as of July 1, 2019 with no indication of impairment as of the test date. The Company will perform its next scheduled annual test of goodwill in the third quarter of 2020. The condensed consolidated results of operations and comprehensive income for the interim periods presented herein are not necessarily indicative of the results to be expected for the full year. Recent accounting pronouncements In January 2017, the FASB issued Accounting Standard Update No. 2017-04 (“ASU 2017-04”), Intangibles—Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment The Company does not anticipate that the adoption of ASU 2017-04 will have a material effect on the Company’s consolidated financial statements.

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2019
Earnings Per Share [Abstract]
Earnings Per Share	2. Earnings per share Basic earnings per share is computed by dividing net income attributable to common stockholders by the weighted-average number of common shares outstanding during the reporting period. Diluted earnings per share is computed similar to basic earnings per share except that it reflects the potential dilution that could occur if dilutive securities or other obligations to issue common stock were exercised or converted into common stock. The computations for basic and diluted earnings (loss) per share are as follows: Three Months Ended Nine Months Ended (shares in thousands) September 30, September 30, 2019 2018 2019 2018 Income from continuing operations $ 8,811 $ 11,880 $ 40,856 $ 6,054 Loss from discontinued operations, net of income taxes (859 ) (178 ) (7,490 ) (4,647 ) Net income 7,952 11,702 33,366 1,407 Weighted-average common shares outstanding — basic 63,861 62,358 63,449 62,147 Effect of stock options and restricted stock units 1,210 902 1,411 1,193 Weighted-average common shares outstanding — diluted 65,071 63,260 64,860 63,340 Earnings per share from continuing operations — basic $ 0.14 $ 0.19 $ 0.64 $ 0.10 Earnings per share from continuing operations — diluted $ 0.14 $ 0.19 $ 0.63 $ 0.10 For the three and nine months ended September 30, 2018 the following amounts of stock options (“NQSOs”) and restricted stock units (“RSUs”) were excluded from the calculation of diluted earnings per share based on the application of the treasury stock method, as such NQSOs and RSUs were determined to be anti-dilutive: Three Months Ended Nine Months Ended (shares in thousands) September 30, September 30, 2018 2018 Effect of stock options and restricted stock units 1,224 1,489

Leases

Leases	9 Months Ended
	Sep. 30, 2019
Leases [Abstract]
Leases	3. Leases The Company leases certain operating equipment and office facilities. Leases with an initial term greater than twelve months are recorded on the Company’s balance sheet as an operating lease asset and operating lease liability and are measured at the present value of lease payments over the lease term. Substantially all of the Company’s leases are classified as operating leases. Leases with an initial term of twelve months or less with purchase options or extension options that are not reasonably certain to be exercised are not recorded on the balance sheet. The Company recognizes lease expense for these leases on a straight-line basis over the lease term. The exercise of lease renewal options is at the Company’s sole discretion and is considered in the measurement of operating lease assets and operating lease liabilities when it is reasonably certain the Company will exercise the option. Certain leases also include options to purchase the leased property. The depreciable life of assets and leasehold improvements are limited by the expected lease term, unless there is a transfer of title or purchase option reasonably certain of exercise. Lease cost The Company’s lease costs are recorded in cost of contract revenues and general and administrative expenses. For the three and nine months ended September 30, 2019, lease costs are as follows: Three Months Ended Nine Months Ended September 30, 2019 September 30, 2019 Operating lease cost $ 5,669 $ 18,244 Short-term lease cost 19,822 52,108 Total lease cost $ 25,491 $ 70,352 Lease terms and commitments The Company’s maturity analysis of its operating lease liabilities, recorded on the balance sheet, as of September 30, 2019 is as follows: 2019 $ 6,370 2020 23,586 2021 19,447 2022 13,827 2023 9,125 Thereafter 9,370 Minimum lease payments 81,725 Imputed interest 9,909 Present value of minimum operating lease payments $ 71,816 Future minimum operating lease payments at December 31, 2018, were as follows: 2019 $ 26,554 2020 22,349 2021 18,430 2022 13,552 2023 9,041 Thereafter 8,697 Total minimum operating lease payments $ 98,623 As most of the Company’s leases do not provide an implicit rate, the Company used our incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. At the date of adoption, the Company used the incremental borrowing rate as of December 31, 2018, for operating leases that commenced prior to that date. Additional information related to the Company’s leases as of September 30, 2019 is as follows: September 30, 2019 Weighted average remaining lease term 4.2 years Weighted average discount rate 6.8 % Supplemental information related to leases during the three and nine months ended September 30, 2019 is as follows: Three Months Ended Nine Months Ended September 30, 2019 September 30, 2019 Operating cash flows from operating leases $ (6,762 ) $ (20,300 ) Operating lease liabilities arising from obtaining new operating lease assets $ 2,840 $ 6,088

Accrued Expenses

Accrued Expenses	9 Months Ended
	Sep. 30, 2019
Payables And Accruals [Abstract]
Accrued Expenses	4. Accrued expenses Accrued expenses at September 30, 2019 and December 31, 2018 were as follows: September 30, December 31, 2019 2018 Insurance $ 14,022 $ 13,724 Payroll and employee benefits 12,532 15,298 Interest 9,782 3,448 Contract reserves 4,868 1,709 Income and other taxes 1,403 1,175 Fuel hedge contracts 894 4,710 Other 6,390 8,287 Total accrued expenses $ 49,891 $ 48,351

Long-term Debt

Long-term Debt	9 Months Ended
	Sep. 30, 2019
Debt Disclosure [Abstract]
Long-Term Debt	5. Long-term debt Credit agreement On May 3, 2019, the Company, Great Lakes Dredge & Dock Company, LLC, NASDI Holdings, LLC, Great Lakes Dredge & Dock Environmental, Inc., Great Lakes Environmental & Infrastructure Solutions, LLC, Great Lakes U.S. Fleet Management, LLC, and Drews Services LLC (collectively, the “Credit Parties”) entered into an amended and restated revolving credit and security agreement (as amended, supplemented or otherwise modified from time to time, the “Amended Credit Agreement”) with certain financial institutions from time to time party thereto as lenders, PNC Bank, National Association, as Agent (the “Agent”), PNC Capital Markets, CIBC Bank USA, Suntrust Robinson Humphrey, Inc. and Bank of America, N.A., as Joint Lead Arrangers and Joint Bookrunners, and HSBC USA, N.A., as Documentation Agent. The Amended Credit Agreement amends and restates the prior Revolving Credit and Security Agreement dated as of December 30, 2016 (as amended, the “Prior Credit Agreement”) by and among the financial institutions from time to time party thereto as lenders, the Agent and the Credit Parties party thereto, such that the terms and conditions of the Prior Credit Agreement have been subsumed and replaced in their entirety by the terms and conditions of the Amended Credit Agreement, including the amount available under the revolving credit facility. The terms of the Amended Credit Agreement are summarized below. The Amended Credit Agreement provides for a senior secured revolving credit facility in an aggregate principal amount of up to $200,000 of which the full amount is available for the issuance of standby letters of credit. The maximum borrowing capacity under the Amended Credit Agreement is determined by a formula and may fluctuate depending on the value of the collateral included in such formula at the time of determination. The Amended Credit Agreement also includes an increase option that will allow the Company to increase the senior secured revolving credit facility by an aggregate principal amount of up to $100,000. This increase is subject to lenders providing incremental commitments for such increase, the Credit Parties having adequate borrowing capacity and provided that no default or event of default exists both before and after giving effect to such incremental commitment increase. The Amended Credit Agreement contains customary representations and affirmative and negative covenants, including a springing financial covenant that requires the Credit Parties to maintain a fixed charge coverage ratio (ratio of earnings before income taxes, depreciation and amortization, net interest expenses, non-cash charges and losses and certain other non-recurring charges, minus capital expenditures, income and franchise taxes, to net cash interest expense plus scheduled cash principal payments with respect to debt plus restricted payments paid in cash) of not less than 1.10 to 1.00. The Amended Credit Agreement also contains customary events of default (including non-payment of principal or interest on any material debt and breaches of covenants) as well as events of default relating to certain actions by the Company’s surety bonding providers. The obligations of the Credit Parties under the Amended Credit Agreement will be unconditionally guaranteed, on a joint and several basis, by each existing and subsequently acquired or formed material direct and indirect domestic subsidiary of the Company. Borrowings under the Amended Credit Agreement will be used to pay fees and expenses related to the Amended Credit Agreement, finance acquisitions permitted under the Amended Credit Agreement, finance ongoing working capital and for other general corporate purposes. The Amended Credit Agreement matures on May 3, 2024; provided that the maturity date shall be accelerated to the date that is ninety-one days prior to the scheduled maturity date of the Company’s unsecured senior notes if the Company fails to refinance its unsecured senior notes prior to their scheduled maturity date. The refinanced notes must have a maturity on or after the date that is 180 days after the maturity date of the Amended Credit Agreement. The obligations under the Amended Credit Agreement are secured by substantially all of the assets of the Credit Parties. The outstanding obligations thereunder shall be secured by a valid first priority perfected lien on substantially all of the U.S. flagged and located vessels of the Credit Parties and a valid perfected lien on all domestic accounts receivable and substantially all other assets of the Credit Parties, subject to the permitted liens and interests of other parties (including the Company’s surety bonding providers). Interest on the senior secured revolving credit facility of the Amended Credit Agreement is equal to either a Domestic Rate option or LIBOR option, at the Company’s election. As of the Closing Date, (a) the Domestic Rate option is the highest of (1) the base commercial lending rate of PNC Bank, National Association, as publicly announced, (2) the sum of the federal funds open rate plus 0.5% and (3) the sum of the daily LIBOR rate plus 1.0%, so long as a daily LIBOR rate is offered, ascertainable and not unlawful plus an interest margin of 0.5%; and (b) the LIBOR Rate option is the rate that applies for the applicable interest period on the Bloomberg page BBAMI (or such other substitute page or alternate source as agreed) plus an interest margin of 1.5%. After the date on which a borrowing base certificate is required to be delivered under Section 9.2 of the Amended Credit Agreement (commencing with the fiscal quarter ending September 30, 2019, the “Adjustment Date”), the Domestic Rate option will be the Domestic Rate plus an interest margin ranging between 0.5% and 1.0% and the LIBOR Rate option will be the LIBOR Rate plus an interest margin ranging between 1.5% and 2.0%, in each case, depending on the quarterly average undrawn availability on the Amended Credit Agreement. As of September 30, 2019, the Company had no borrowings on the revolver, $36,730 of letters of credit outstanding and $162,778 of availability under the Amended Credit Agreement. The availability under the Amended Credit Agreement is suppressed by $492 as of September 30, 2019 as a result of certain limitations set forth in the Amended Credit Agreement. Senior Notes and subsidiary guarantors In May 2017, the Company issued $325,000 of 8.000% senior notes (“8% Senior Notes”) due May 15, 2022. The interest is paid semi-annually. The Company’s obligations under these Senior Notes are guaranteed by certain of the Company’s 100% owned domestic subsidiaries. Such guarantees are full, unconditional and joint and several. The parent company issuer has no independent assets or operations and all non-guarantor subsidiaries have been determined to be minor.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2019
Fair Value Disclosures [Abstract]
Fair Value Measurements	6. Fair value measurements Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. A fair value hierarchy has been established by GAAP that requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The accounting guidance describes three levels of inputs that may be used to measure fair value: Level 1—Quoted prices in active markets for identical assets or liabilities. Level 2—Observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3—Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. The Company utilizes the market approach to measure fair value for its financial assets and liabilities. The market approach uses prices and other relevant information generated by market transactions involving identical or comparable assets or liabilities. At times, the Company holds certain derivative contracts that it uses to manage foreign currency risk or commodity price risk. The Company does not hold or issue derivatives for speculative or trading purposes. The fair values of these financial instruments are summarized as follows: Fair Value Measurements at Reporting Date Using Description At September 30, 2019 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Fuel hedge contracts $ 894 $ — $ 894 $ — Fair Value Measurements at Reporting Date Using Description At December 31, 2018 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Fuel hedge contracts $ 4,710 $ — $ 4,710 $ — Fuel hedge contracts The Company is exposed to certain market risks, primarily commodity price risk as it relates to diesel fuel purchase requirements, which occur in the normal course of business. The Company enters into heating oil commodity swap contracts to hedge the risk that fluctuations in diesel fuel prices could have an adverse impact on cash flows associated with its domestic dredging contracts. The Company’s goal is to hedge approximately 80% of the fuel requirements for work in domestic backlog. As of September 30, 2019, the Company was party to various swap arrangements to hedge the price of a portion of its diesel fuel purchase requirements for work in its backlog to be performed through September 2020. As of September 30, 2019, there were 9.1 million gallons remaining on these contracts which represent approximately 80% of the Company’s forecasted domestic fuel purchases through September 2020. Under these swap agreements, the Company will pay fixed prices ranging from $1.79 to $2.34 per gallon. At September 30, 2019 and December 31, 2018, the fair value liabilities of the fuel hedge contracts were estimated to be $894 and $4,710, respectively, and are recorded in accrued expenses. For fuel hedge contracts considered to be highly effective, the losses reclassified to earnings from changes in fair value of derivatives, net of cash settlements and taxes, for the nine months ended September 30, 2019 were $1,513. The remaining gains and losses included in accumulated other comprehensive loss at September 30, 2019 will be reclassified into earnings over the next twelve months, corresponding to the period during which the hedged fuel is expected to be utilized. Changes in the fair value of fuel hedge contracts not considered highly effective are recorded as cost of contract revenues in the Statement of Operations. The fair values of fuel hedges are corroborated using inputs that are readily observable in public markets; therefore, the Company determines fair value of these fuel hedges using Level 2 inputs. The Company is exposed to counterparty credit risk associated with non-performance of its various derivative instruments. The Company’s risk would be limited to any unrealized gains on current positions. To help mitigate this risk, the Company transacts only with counterparties that are rated as investment grade or higher. In addition, all counterparties are monitored on a continuous basis. The fair value of the fuel hedge contracts outstanding as of September 30, 2019 and December 31, 2018 is as follows: Fair Value at September 30, December 31, Balance Sheet Location 2019 2018 Liability derivatives: Derivatives designated as hedging instruments Fuel hedge contracts Accrued expenses $ 894 $ 4,710 Accumulated other comprehensive income (loss) Changes in the components of the accumulated balances of other comprehensive income (loss) are as follows: Three Months Ended Nine Months Ended September 30, September 30, 2019 2018 2019 2018 Cumulative translation adjustments—net of tax $ — $ (14 ) $ — $ 1,290 Derivatives: Reclassification of derivative (gains) losses to earnings—net of tax 327 (442 ) 1,513 (2,211 ) Change in fair value of derivatives—net of tax (487 ) 241 1,304 1,149 Net change in cash flow derivative hedges—net of tax (160 ) (201 ) 2,817 (1,062 ) Total other comprehensive income (loss) $ (160 ) $ (215 ) $ 2,817 $ 228 Adjustments reclassified from accumulated balances of other comprehensive income (loss) to earnings are as follows: Three Months Ended Nine Months Ended September 30, September 30, Statement of Operations Location 2019 2018 2019 2018 Derivatives: Fuel Costs of contract revenues $ 443 $ (599 ) $ 2,049 $ (2,995 ) Income tax (provision) benefit 116 (157 ) 536 (784 ) $ 327 $ (442 ) $ 1,513 $ (2,211 ) During the first quarter of 2018, the Company substantially completed the closeout of its Brazil operations. This liquidation resulted in the reversal of the Company’s cumulative translation adjustment. Adjustments reclassified from accumulated balances of other comprehensive income (loss) to earnings are as follows: Nine Months Ended Statement of Operations Location September 30, 2018 Cumulative translation adjustment: Other expense $ (2,015 ) Income tax benefit 527 $ (1,488 ) Other financial instruments The carrying value of financial instruments included in current assets and current liabilities approximates fair value due to the short-term maturities of these instruments. Based on timing of the cash flows and comparison to current market interest rates, the carrying value of our revolving credit agreement approximates fair value. In May 2017, the Company issued a total of $325,000 of 8% senior notes due May 15, 2022, which were outstanding at September 30, 2019 (see Note 5, Long-term debt). The 8% Senior Notes are senior unsecured obligations of the Company and its subsidiaries that guarantee the 8% Senior Notes. The fair value of the senior notes was $346,385 at September 30, 2019, which is a Level 1 fair value measurement as the senior notes’ value was obtained using quoted prices in active markets. It is impracticable to determine the fair value of outstanding letters of credit or performance, bid and payment bonds due to uncertainties as to the amount and timing of future obligations, if any.

Share-Based Compensation

Share-Based Compensation	9 Months Ended
	Sep. 30, 2019
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Share-Based Compensation	7 . Share-based compensation On May 11, 2017, the Company’s stockholders approved the Great Lakes Dredge & Dock Corporation 2017 Long-Term Incentive Plan (the “Incentive Plan”), which previously had been approved by the Company’s board of directors subject to stockholder approval. The Incentive Plan permits the granting of stock options, stock appreciation rights, restricted stock and restricted stock units to the Company’s employees and directors for up to 3.3 million shares of common stock, plus an additional 1.7 million shares underlying equity awards issued under the 2007 Long-Term Incentive Plan. During the nine months ended September 30, 2019, the Company granted 542 thousand restricted stock units to certain employees. In addition, all non-employee directors on the Company’s board of directors are paid a portion of their board-related compensation in stock grants or restricted stock units. Compensation cost charged to expense related to share-based compensation arrangements was $1,615 and $843 for the three months ended September 30, 2019 and 2018, respectively, and $5,234 and $2,829 for the nine months ended September 30, 2019 and 2018 respectively.

Revenue

Revenue	9 Months Ended
	Sep. 30, 2019
Revenue From Contract With Customer [Abstract]
Revenue	8. Revenue At September 30, 2019, the Company had $653,733 of remaining performance obligations, which the Company refers to as total backlog. Approximately 29% of the Company’s backlog will be completed in 2019 with the remaining balance expected to be completed by 2021. Revenue by category The following series of tables presents our revenue disaggregated by several categories. Domestically, our work generally is performed in coastal waterways and deep water ports. The U.S. dredging market consists of four primary types of work: capital, coastal protection, maintenance and rivers & lakes. The Company’s contract revenues by type of work, for the periods indicated, were as follows: Three Months Ended Nine Months Ended September 30, September 30, Revenues 2019 2018 2019 2018 Dredging: Capital—U.S. $ 62,518 $ 105,934 $ 214,668 $ 252,537 Capital—foreign 12,554 5,045 39,523 13,847 Coastal protection 41,959 42,691 133,897 122,673 Maintenance 30,074 11,581 89,911 38,461 Rivers & lakes 22,670 13,420 69,224 20,046 Total revenues $ 169,775 $ 178,671 $ 547,223 $ 447,564 The Company’s contract revenues by type of customer, for the periods indicated, were as follows: Three Months Ended Nine Months Ended September 30, September 30, Revenues 2019 2018 2019 2018 Dredging: Federal government $ 134,763 $ 144,050 $ 431,722 $ 313,657 State and local government 18,505 7,107 69,077 77,078 Private 3,953 22,469 6,901 42,982 Foreign 12,554 5,045 39,523 13,847 Total revenues $ 169,775 $ 178,671 $ 547,223 $ 447,564 Contract balances Accounts receivable at September 30, 2019 and December 31, 2018 are as follows: September 30, December 31, 2019 2018 Completed contracts $ 9,736 $ 8,592 Contracts in progress 15,688 48,418 Retainage 5,819 7,969 31,243 64,979 Allowance for doubtful accounts (200 ) (200 ) Total accounts receivable—net $ 31,043 $ 64,779 The components of contracts in progress at September 30, 2019 and December 31, 2018 are as follows: September 30, December 31, 2019 2018 Costs and earnings in excess of billings: Costs and earnings for contracts in progress $ 188,042 $ 433,093 Amounts billed (167,718 ) (416,956 ) Costs and earnings in excess of billings for contracts in progress 20,324 16,137 Costs and earnings in excess of billings for completed contracts 7,171 3,928 Total contract revenues in excess of billings $ 27,495 $ 20,065 Current portion of contract revenues in excess of billings $ 25,383 $ 17,953 Long-term contract revenues in excess of billings 2,112 2,112 Total contract revenues in excess of billings $ 27,495 $ 20,065 Billings in excess of costs and earnings: Amounts billed $ (475,765 ) $ (260,691 ) Costs and earnings for contracts in progress 406,378 242,898 Total billings in excess of contract revenues $ (69,387 ) $ (17,793 ) For amounts included in billings in excess of contract revenues balance at the beginning of the year, the Company recognized nearly all of the related revenue during the nine months ended September 30, 2019. At September 30, 2019 and December 31, 2018, costs to fulfill a contract with a customer recognized as an asset were $9,420 and $13,129, respectively, and are recorded in other current assets and other noncurrent assets. These costs relate to pre-contract and pre-construction activities. During the three and nine months ended September 30, 2019 and 2018, the Company amortized $3,097 and $8,846 and $5,667 and $12,132, respectively, of pre-construction costs.

Restructuring Charges

Restructuring Charges	9 Months Ended
	Sep. 30, 2019
Restructuring And Related Activities [Abstract]
Restructuring Charges	9 . Restructuring charges In 2017, a strategic review was begun to improve the Company's financial results in both domestic and international operations enabling debt reduction, improvements in return on capital and the continued renewal of our extensive fleet with new and efficient dredges to best serve our domestic and international clients. Management executed a plan to reduce general and administrative and overhead expenses, retire certain underperforming and underutilized assets, write-off pre-contract costs on a project that was never formally awarded and that the Company no longer intends to pursue and closeout the Company’s Brazil operations. The cumulative amounts incurred to date for restructuring charges, including amounts presented in discontinued operations, include severance of $3,549, asset retirements of $32,309, pre-contract costs of $6,441 and closeout costs of $4,194. Restructuring activities were substantially completed in 2018. Restructuring charges recognized for the above actions for the three and nine months ended September 30, 2018 are summarized as follows: Three Months Ended Nine Months Ended September 30, 2018 September 30, 2018 Costs of contract revenues—depreciation $ 1,341 $ 6,009 Costs of contract revenues—other 765 1,758 General and administrative expenses 153 132 Loss on sale of assets—net 1,737 890 Other expense — 2,015 Total $ 3,996 $ 10,804 The Company had accrued severance expense of $662 at December 31, 2018, which has been settled in 2019. Accrued severance is included in accrued expenses.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2019
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	10. Commitments and contingencies Commercial commitments Performance and bid bonds are customarily required for dredging and marine construction projects, as well as some environmental & infrastructure projects. The Company has bonding agreements with Argonaut Insurance Company, Berkley Insurance Company, Chubb Surety and Liberty Mutual Insurance Company, under which the Company can obtain performance, bid and payment bonds. The Company also has outstanding bonds with Travelers Casualty, Surety Company of America and Zurich American Insurance Company (“Zurich”). Bid bonds are generally obtained for a percentage of bid value and amounts outstanding typically range from $1,000 to $10,000. At September 30, 2019, the Company had outstanding performance bonds with a notional amount of approximately $1,245,557 of which $41,085 relates to projects from the Company’s historical environmental & infrastructure businesses. The revenue value remaining in backlog related to these projects totaled approximately $607,595. In connection with the sale of our historical demolition business, the Company was obligated to keep in place the surety bonds on pending demolition projects for the period required under the respective contract for a project and issued Zurich a letter of credit related to this exposure. In February 2017, the Company was notified by Zurich of an alleged default triggered on a historical demolition surety performance bond in the aggregate of approximately $20,000 for failure of the contractor to perform in accordance with the terms of a project. In May 2017, Zurich drew upon the letter of credit in the amount of $20,881. In order to fund the draw on the letter of credit in May 2017, the Company had to increase the borrowings on its revolving credit facility. As the outstanding letters of credit previously reduced our availability under the revolving credit facility, this draw down on our letter of credit did not impact our liquidity or capital availability. Pursuant to the terms of sale of our historical demolition business, the Company received an indemnification from the buyer for losses resulting from the bonding arrangement. The Company intends to aggressively pursue enforcement of the indemnification provisions if the buyer of the historical demolition business is found to be in default of its obligations. The Company cannot estimate the amount or range of recoveries related to the indemnification or resolution of the Company’s responsibilities under the surety bond. The surety bond claim impact has been included in discontinued operations. Certain foreign projects performed by the Company have warranty periods, typically spanning no more than one to three years beyond project completion, whereby the Company retains responsibility to maintain the project site to certain specifications during the warranty period. Generally, any potential liability of the Company is mitigated by insurance, shared responsibilities with consortium partners, and/or recourse to owner-provided specifications. Legal proceedings and other contingencies As is customary with negotiated contracts and modifications or claims to competitively bid contracts with the federal government, the government has the right to audit the books and records of the Company to ensure compliance with such contracts, modifications, or claims, and the applicable federal laws. The government has the ability to seek a price adjustment based on the results of such audit. Any such audits have not had, and are not expected to have, a material impact on the financial position, operations, or cash flows of the Company. Various legal actions, claims, assessments and other contingencies arising in the ordinary course of business are pending against the Company and certain of its subsidiaries. The Company will defend itself vigorously on all matters. These matters are subject to many uncertainties, and it is possible that some of these matters could ultimately be decided, resolved, or settled adversely to the Company. Although the Company is subject to various claims and legal actions that arise in the ordinary course of business, except as described below, the Company is not currently a party to any material legal proceedings or environmental claims. The Company records an accrual when it is probable a liability has been incurred and the amount of loss can be reasonably estimated. The Company does not believe any of these proceedings, individually or in the aggregate, would be expected to have a material effect on results of operations, cash flows or financial condition. Except as noted below, the Company has not accrued any amounts with respect to the below matters, as the Company does not believe, based on information currently known to it, that a loss relating to these matters is probable, and an estimate of a range of potential losses relating to these matters cannot reasonably be made. On April 23, 2014, the Company completed the sale of NASDI, LLC (“NASDI”) and Yankee Environmental Services, LLC (“Yankee”), which together comprised the Company’s historical demolition business, to a privately owned demolition company. Legal actions brought by the Company to enforce the buyer’s obligations under the sale agreement are described below. On January 14, 2015, the Company and our subsidiary, NASDI Holdings, LLC, brought an action in the Delaware Court of Chancery to enforce the terms of the Company’s agreement to sell NASDI and Yankee. Under the terms of the agreement, the Company received cash of $5,309 and retained the right to receive additional proceeds based upon future collections of outstanding accounts receivable and work in process existing at the date of close. The Company seeks specific performance of the buyer’s obligation to collect and to remit the additional proceeds, and other related relief. Defendants have filed counterclaims alleging that the Company misrepresented the quality of its contracts and receivables prior to the sale. The Company denies defendants’ allegations. The Company is in estimates matter In June 2019, the U.S. Attorney’s Office for the Eastern District of Louisiana informed the Company that it intends to file criminal charges against the Company in connection with a September 2016 oil spill. The oil spill occurred during the Company’s Cheniere Ronquille project, allegedly resulting in the discharge of around 125 barrels of crude oil in Bay Long, Louisiana. The Company has cooperated with the U.S. Attorney’s Office in its investigation of the oil spill and believes that criminal charges are not warranted. On September 27, 2019, the EPA Region filed an administrative complaint against the Company relating to project the Company performed at PortMiami 2013-2015. The EPA is alleging violations of Section 103 of the Marine Protection, Research, and Sanctuaries Act (“MPRSA”) and to report violations of MPRSA. The EPA seeks the statutory maximum penalty of $75 per violation of the MPRSA. Company disagrees with the EPA on whether violations occurred and, if violation did occur, the appropriate penalty calculation.

Business Dispositions

Business Dispositions	9 Months Ended
	Sep. 30, 2019
Discontinued Operations And Disposal Groups [Abstract]
Business Dispositions	11. Business dispositions Discontinued operations During the second quarter of 2019, the Company entered into an agreement and completed the sale of the historical environmental & infrastructure business. Under the terms of the agreement, the Company received cash of $17,500 in the second quarter of 2019 and received an additional $857 in the third quarter of 2019. The results of the historical environmental & infrastructure businesses have been reported in discontinued operations as follows: Three Months Ended Nine Months Ended September 30, September 30, 2019 2018 2019 2018 Revenue $ — $ 25,651 $ 25,040 $ 53,941 Loss before income taxes from discontinued operations (1,184 ) (241 ) (7,421 ) (6,294 ) Loss on disposal of assets held for sale (2 ) — (2,632 ) — Income tax benefit 327 63 2,563 1,647 Loss from discontinued operations, net of income taxes $ (859 ) $ (178 ) $ (7,490 ) $ (4,647 ) The major classes of assets and liabilities of businesses reported as discontinued operations are shown below: December 31, 2018 Assets: Accounts receivable—net $ 13,943 Contract revenues in excess of billings 9,971 Other current assets 865 Assets held for sale $ 24,779 Property and equipment—net 6,612 Operating lease assets — Goodwill 7,000 Other intangible assets—net 372 Other assets 1,699 Reserve for loss on disposal (14,110 ) Assets held for sale—noncurrent $ 1,573 Liabilities: Accounts payable $ 8,343 Accrued expenses 4,380 Operating lease liabilities — Other current liabilities 1,217 Liabilities held for sale $ 13,940 Other liabilities 146 Operating lease liabilities—noncurrent — Liabilities held for sale—noncurrent $ 146

Basis of Presentation (Policies

Basis of Presentation (Policies)	9 Months Ended
	Sep. 30, 2019
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Recent Accounting Pronouncements	Recent accounting pronouncements In January 2017, the FASB issued Accounting Standard Update No. 2017-04 (“ASU 2017-04”), Intangibles—Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment The Company does not anticipate that the adoption of ASU 2017-04 will have a material effect on the Company’s consolidated financial statements.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2019
Earnings Per Share [Abstract]
Computations for Basic and Diluted Earnings (Loss) Per Share	The computations for basic and diluted earnings (loss) per share are as follows: Three Months Ended Nine Months Ended (shares in thousands) September 30, September 30, 2019 2018 2019 2018 Income from continuing operations $ 8,811 $ 11,880 $ 40,856 $ 6,054 Loss from discontinued operations, net of income taxes (859 ) (178 ) (7,490 ) (4,647 ) Net income 7,952 11,702 33,366 1,407 Weighted-average common shares outstanding — basic 63,861 62,358 63,449 62,147 Effect of stock options and restricted stock units 1,210 902 1,411 1,193 Weighted-average common shares outstanding — diluted 65,071 63,260 64,860 63,340 Earnings per share from continuing operations — basic $ 0.14 $ 0.19 $ 0.64 $ 0.10 Earnings per share from continuing operations — diluted $ 0.14 $ 0.19 $ 0.63 $ 0.10
Schedule of Stock Options and Restricted Stock Units Excluded from Calculation of Anti-Diluted Earnings Per Share	For the three and nine months ended September 30, 2018 the following amounts of stock options (“NQSOs”) and restricted stock units (“RSUs”) were excluded from the calculation of diluted earnings per share based on the application of the treasury stock method, as such NQSOs and RSUs were determined to be anti-dilutive: Three Months Ended Nine Months Ended (shares in thousands) September 30, September 30, 2018 2018 Effect of stock options and restricted stock units 1,224 1,489

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2019
Leases [Abstract]
Schedule of Lease Costs	The Company’s lease costs are recorded in cost of contract revenues and general and administrative expenses. For the three and nine months ended September 30, 2019, lease costs are as follows: Three Months Ended Nine Months Ended September 30, 2019 September 30, 2019 Operating lease cost $ 5,669 $ 18,244 Short-term lease cost 19,822 52,108 Total lease cost $ 25,491 $ 70,352
Schedule of Maturity Analysis of Operating Lease Liabilities	The Company’s maturity analysis of its operating lease liabilities, recorded on the balance sheet, as of September 30, 2019 is as follows: 2019 $ 6,370 2020 23,586 2021 19,447 2022 13,827 2023 9,125 Thereafter 9,370 Minimum lease payments 81,725 Imputed interest 9,909 Present value of minimum operating lease payments $ 71,816
Future Minimum Operating Lease Payments	Future minimum operating lease payments at December 31, 2018, were as follows: 2019 $ 26,554 2020 22,349 2021 18,430 2022 13,552 2023 9,041 Thereafter 8,697 Total minimum operating lease payments $ 98,623
Schedule of Additional Information Related to Leases	Additional information related to the Company’s leases as of September 30, 2019 is as follows: September 30, 2019 Weighted average remaining lease term 4.2 years Weighted average discount rate 6.8 %
Supplemental Information Related to Leases	Supplemental information related to leases during the three and nine months ended September 30, 2019 is as follows: Three Months Ended Nine Months Ended September 30, 2019 September 30, 2019 Operating cash flows from operating leases $ (6,762 ) $ (20,300 ) Operating lease liabilities arising from obtaining new operating lease assets $ 2,840 $ 6,088

Accrued Expenses (Tables)

Accrued Expenses (Tables)	9 Months Ended
	Sep. 30, 2019
Payables And Accruals [Abstract]
Accrued Expenses	Accrued expenses at September 30, 2019 and December 31, 2018 were as follows: September 30, December 31, 2019 2018 Insurance $ 14,022 $ 13,724 Payroll and employee benefits 12,532 15,298 Interest 9,782 3,448 Contract reserves 4,868 1,709 Income and other taxes 1,403 1,175 Fuel hedge contracts 894 4,710 Other 6,390 8,287 Total accrued expenses $ 49,891 $ 48,351

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2019
Fair Value Disclosures [Abstract]
Schedule of Fair Values of Financial Instruments and Nonfinancial Assets and Liabilities Measured at the Reporting Date	The fair values of these financial instruments are summarized as follows: Fair Value Measurements at Reporting Date Using Description At September 30, 2019 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Fuel hedge contracts $ 894 $ — $ 894 $ — Fair Value Measurements at Reporting Date Using Description At December 31, 2018 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Fuel hedge contracts $ 4,710 $ — $ 4,710 $ —
Schedule of Fair Value of Fuel Hedge Contracts Balance Sheet Location	The fair value of the fuel hedge contracts outstanding as of September 30, 2019 and December 31, 2018 is as follows: Fair Value at September 30, December 31, Balance Sheet Location 2019 2018 Liability derivatives: Derivatives designated as hedging instruments Fuel hedge contracts Accrued expenses $ 894 $ 4,710
Changes in Components of Accumulated Other Comprehensive Income (Loss)	Changes in the components of the accumulated balances of other comprehensive income (loss) are as follows: Three Months Ended Nine Months Ended September 30, September 30, 2019 2018 2019 2018 Cumulative translation adjustments—net of tax $ — $ (14 ) $ — $ 1,290 Derivatives: Reclassification of derivative (gains) losses to earnings—net of tax 327 (442 ) 1,513 (2,211 ) Change in fair value of derivatives—net of tax (487 ) 241 1,304 1,149 Net change in cash flow derivative hedges—net of tax (160 ) (201 ) 2,817 (1,062 ) Total other comprehensive income (loss) $ (160 ) $ (215 ) $ 2,817 $ 228
Adjustments Reclassified from Accumulated Balances Other Comprehensive Income (Loss) to Earnings	Adjustments reclassified from accumulated balances of other comprehensive income (loss) to earnings are as follows: Three Months Ended Nine Months Ended September 30, September 30, Statement of Operations Location 2019 2018 2019 2018 Derivatives: Fuel Costs of contract revenues $ 443 $ (599 ) $ 2,049 $ (2,995 ) Income tax (provision) benefit 116 (157 ) 536 (784 ) $ 327 $ (442 ) $ 1,513 $ (2,211 ) Nine Months Ended Statement of Operations Location September 30, 2018 Cumulative translation adjustment: Other expense $ (2,015 ) Income tax benefit 527 $ (1,488 )

Revenue (Tables)

Revenue (Tables)	9 Months Ended
	Sep. 30, 2019
Revenue From Contract With Customer [Abstract]
Summary of Contract Revenues by Type of Work and Customer	The Company’s contract revenues by type of work, for the periods indicated, were as follows: Three Months Ended Nine Months Ended September 30, September 30, Revenues 2019 2018 2019 2018 Dredging: Capital—U.S. $ 62,518 $ 105,934 $ 214,668 $ 252,537 Capital—foreign 12,554 5,045 39,523 13,847 Coastal protection 41,959 42,691 133,897 122,673 Maintenance 30,074 11,581 89,911 38,461 Rivers & lakes 22,670 13,420 69,224 20,046 Total revenues $ 169,775 $ 178,671 $ 547,223 $ 447,564 The Company’s contract revenues by type of customer, for the periods indicated, were as follows: Three Months Ended Nine Months Ended September 30, September 30, Revenues 2019 2018 2019 2018 Dredging: Federal government $ 134,763 $ 144,050 $ 431,722 $ 313,657 State and local government 18,505 7,107 69,077 77,078 Private 3,953 22,469 6,901 42,982 Foreign 12,554 5,045 39,523 13,847 Total revenues $ 169,775 $ 178,671 $ 547,223 $ 447,564
Schedule of Accounts Receivable	Accounts receivable at September 30, 2019 and December 31, 2018 are as follows: September 30, December 31, 2019 2018 Completed contracts $ 9,736 $ 8,592 Contracts in progress 15,688 48,418 Retainage 5,819 7,969 31,243 64,979 Allowance for doubtful accounts (200 ) (200 ) Total accounts receivable—net $ 31,043 $ 64,779
Components of Contracts in Progress	The components of contracts in progress at September 30, 2019 and December 31, 2018 are as follows: September 30, December 31, 2019 2018 Costs and earnings in excess of billings: Costs and earnings for contracts in progress $ 188,042 $ 433,093 Amounts billed (167,718 ) (416,956 ) Costs and earnings in excess of billings for contracts in progress 20,324 16,137 Costs and earnings in excess of billings for completed contracts 7,171 3,928 Total contract revenues in excess of billings $ 27,495 $ 20,065 Current portion of contract revenues in excess of billings $ 25,383 $ 17,953 Long-term contract revenues in excess of billings 2,112 2,112 Total contract revenues in excess of billings $ 27,495 $ 20,065 Billings in excess of costs and earnings: Amounts billed $ (475,765 ) $ (260,691 ) Costs and earnings for contracts in progress 406,378 242,898 Total billings in excess of contract revenues $ (69,387 ) $ (17,793 )

Restructuring charges (Tables)

Restructuring charges (Tables)	9 Months Ended
	Sep. 30, 2019
Restructuring And Related Activities [Abstract]
Schedule of Restructuring Charges	Restructuring charges recognized for the above actions for the three and nine months ended September 30, 2018 are summarized as follows: Three Months Ended Nine Months Ended September 30, 2018 September 30, 2018 Costs of contract revenues—depreciation $ 1,341 $ 6,009 Costs of contract revenues—other 765 1,758 General and administrative expenses 153 132 Loss on sale of assets—net 1,737 890 Other expense — 2,015 Total $ 3,996 $ 10,804

Business Dispositions (Tables)

Business Dispositions (Tables)	9 Months Ended
	Sep. 30, 2019
Discontinued Operations And Disposal Groups [Abstract]
Schedule of Discontinued Operations	The results of the historical environmental & infrastructure businesses have been reported in discontinued operations as follows: Three Months Ended Nine Months Ended September 30, September 30, 2019 2018 2019 2018 Revenue $ — $ 25,651 $ 25,040 $ 53,941 Loss before income taxes from discontinued operations (1,184 ) (241 ) (7,421 ) (6,294 ) Loss on disposal of assets held for sale (2 ) — (2,632 ) — Income tax benefit 327 63 2,563 1,647 Loss from discontinued operations, net of income taxes $ (859 ) $ (178 ) $ (7,490 ) $ (4,647 )
Schedule of Major Classes of Assets and Liabilities of Businesses Reported as Discontinued Operations	The major classes of assets and liabilities of businesses reported as discontinued operations are shown below: December 31, 2018 Assets: Accounts receivable—net $ 13,943 Contract revenues in excess of billings 9,971 Other current assets 865 Assets held for sale $ 24,779 Property and equipment—net 6,612 Operating lease assets — Goodwill 7,000 Other intangible assets—net 372 Other assets 1,699 Reserve for loss on disposal (14,110 ) Assets held for sale—noncurrent $ 1,573 Liabilities: Accounts payable $ 8,343 Accrued expenses 4,380 Operating lease liabilities — Other current liabilities 1,217 Liabilities held for sale $ 13,940 Other liabilities 146 Operating lease liabilities—noncurrent — Liabilities held for sale—noncurrent $ 146

Basis of Presentation (Narrativ

Basis of Presentation (Narrative) (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2019segment	Jan. 01, 2019USD ($)
Organization Consolidation and Presentation [Line Items]
Number of operating Segments	1
Number of reportable segments	1
Number of reportable segment with goodwill	1
Accounting Standards Update 2016-02 [Member]
Organization Consolidation and Presentation [Line Items]
Cumulative net adjustment to the beginning retained earnings balance | $		$ 2,802

Earnings Per Share - (Computati

Earnings Per Share - (Computations for Basic and Diluted Earnings (Loss) Per Share) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Earnings Per Share [Abstract]
Income from continuing operations	$ 8,811	$ 11,880	$ 40,856	$ 6,054
Loss from discontinued operations, net of income taxes	(859)	(178)	(7,490)	(4,647)
Net income	$ 7,952	$ 11,702	$ 33,366	$ 1,407
Weighted-average common shares outstanding — basic	63,861	62,358	63,449	62,147
Effect of stock options and restricted stock units	1,210	902	1,411	1,193
Weighted-average common shares outstanding — diluted	65,071	63,260	64,860	63,340
Earnings per share from continuing operations — basic	$ 0.14	$ 0.19	$ 0.64	$ 0.10
Earnings per share from continuing operations — diluted	$ 0.14	$ 0.19	$ 0.63	$ 0.10

Earnings Per Share - (Schedule

Earnings Per Share - (Schedule of Stock Options and Restricted Stock Units Excluded from Calculation of Anti-Diluted Earnings Per Share) (Details) - shares shares in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2018
Earnings Per Share [Abstract]
Effect of stock options and restricted stock units	1,224	1,489

Leases - (Schedule of Lease Cos

Leases - (Schedule of Lease Costs) (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2019
Leases [Abstract]
Operating lease cost	$ 5,669	$ 18,244
Short-term lease cost	19,822	52,108
Total lease cost	$ 25,491	$ 70,352

Leases - (Schedule of Maturity

Leases - (Schedule of Maturity Analysis of Operating Lease Liabilities) (Details) $ in Thousands	Sep. 30, 2019USD ($)
Operating Lease Liabilities Payments Due Rolling Maturity [Abstract]
2019	$ 6,370
2020	23,586
2021	19,447
2022	13,827
2023	9,125
Thereafter	9,370
Minimum lease payments	81,725
Imputed interest	9,909
Present value of minimum operating lease payments	$ 71,816

Leases - (Future Minimum Operat

Leases - (Future Minimum Operating Lease Payments) (Details) $ in Thousands	Dec. 31, 2018USD ($)
Commitments And Contingencies Disclosure [Abstract]
2019	$ 26,554
2020	22,349
2021	18,430
2022	13,552
2023	9,041
Thereafter	8,697
Total minimum operating lease payments	$ 98,623

Leases - (Schedule of Additiona

Leases - (Schedule of Additional Information Related to Leases) (Details)	Sep. 30, 2019
Lease Cost [Abstract]
Weighted average remaining lease term	4 years 2 months 12 days
Weighted average discount rate	6.80%

Leases - (Supplemental Informat

Leases - (Supplemental Information Related to Leases) (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2019
Leases [Abstract]
Operating cash flows from operating leases	$ (6,762)	$ (20,300)
Operating lease liabilities arising from obtaining new operating lease assets	$ 2,840	$ 6,088

Accrued Expenses (Details)

Accrued Expenses (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Payables And Accruals [Abstract]
Insurance	$ 14,022	$ 13,724
Payroll and employee benefits	12,532	15,298
Interest	9,782	3,448
Contract reserves	4,868	1,709
Income and other taxes	1,403	1,175
Fuel hedge contracts	894	4,710
Other	6,390	8,287
Total accrued expenses	$ 49,891	$ 48,351

Long-Term Debt (Narrative) (Det

Long-Term Debt (Narrative) (Details) - USD ($)	May 03, 2019	May 31, 2017	Sep. 30, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Revolving credit facility			$ 0	$ 11,500,000
Letters of credit outstanding			36,730,000
Letter of credit remaining borrowing capacity			162,778,000
Availability under credit agreement suppressed			$ 492,000
8.000% Senior Notes Due in 2022 [Member]
Debt Instrument [Line Items]
Debt instrument, face amount		$ 325,000,000
Debt instrument, interest rate, stated percentage		8.00%
Maturity date		May 15, 2022
Owned Domestic Subsidiaries Percent		100.00%
Minimum [Member]
Debt Instrument [Line Items]
Fixed charge coverage ratio	1.10%
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity	$ 200,000,000
Line of credit facility optional increase capacity	$ 100,000,000
Revolving credit facility, maturity date			May 3, 2024
Description of refinanced notes maturity after the maturity date			The refinanced notes must have a maturity on or after the date that is 180 days after the maturity date of the Amended Credit Agreement.
Number of days prior to scheduled maturity date			91 days
Revolving Credit Facility [Member] | Domestic Rate [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	0.50%
Interest margin applicable	0.50%
Revolving Credit Facility [Member] | Daily LIBOR Rate [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1.00%
Revolving Credit Facility [Member] | LIBOR Rate [Member]
Debt Instrument [Line Items]
Interest margin applicable	1.50%
Revolving Credit Facility [Member] | Minimum [Member] | Domestic Rate [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	0.50%
Revolving Credit Facility [Member] | Minimum [Member] | LIBOR Rate [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1.50%
Revolving Credit Facility [Member] | Maximum [Member] | Domestic Rate [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1.00%
Revolving Credit Facility [Member] | Maximum [Member] | LIBOR Rate [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	2.00%

Fair Value Measurements (Schedu

Fair Value Measurements (Schedule of Fair Values of Financial Instruments and Nonfinancial Assets and Liabilities Measured at the Reporting Date) (Details) - Fuel Hedge Contracts [Member] - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fair Value, Net Asset (Liability)	$ 894	$ 4,710
Significant Other Observable Inputs (Level 2) [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fair Value, Net Asset (Liability)	$ 894	$ 4,710

Fair Value Measurements (Narrat

Fair Value Measurements (Narrative) (Details) gal in Millions	1 Months Ended	3 Months Ended		9 Months Ended
	May 31, 2017USD ($)	Sep. 30, 2019USD ($)$ / gal	Sep. 30, 2018USD ($)	Sep. 30, 2019USD ($)$ / galgal	Sep. 30, 2018USD ($)	Dec. 31, 2018USD ($)
Derivatives Fair Value [Line Items]
Derivative underlying hedge percent				80.00%
Derivative, Nonmonetary Notional Amount, Volume | gal				9.1
Fair value hedge liabilities		$ 894,000		$ 894,000		$ 4,710,000
Reclassification of derivative gains (losses) to earnings—net of tax		(327,000)	$ 442,000	(1,513,000)	$ 2,211,000
8.000% Senior Notes Due in 2022 [Member]
Derivatives Fair Value [Line Items]
Debt instrument, face amount	$ 325,000,000
Stated interest rate	8.00%
Maturity date	May 15, 2022
8.000% Senior Notes Due in 2022 [Member] | Fair Value, Inputs, Level 1 [Member]
Derivatives Fair Value [Line Items]
Fair value of debt		$ 346,385,000		$ 346,385,000
Minimum [Member]
Derivatives Fair Value [Line Items]
Fixed price range | $ / gal		1.79		1.79
Maximum [Member]
Derivatives Fair Value [Line Items]
Fixed price range | $ / gal		2.34		2.34

Fair Value Measurements (Sche_2

Fair Value Measurements (Schedule of Fair Value of Fuel Hedge Contracts Balance Sheet Location) (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Derivatives Fair Value [Line Items]
Liability derivatives	$ 894	$ 4,710
Accrued Expenses [Member] | Derivatives Designated as Hedging Instruments [Member] | Fuel Hedge Contracts [Member]
Derivatives Fair Value [Line Items]
Liability derivatives	$ 894	$ 4,710

Fair Value Measurements (Change

Fair Value Measurements (Changes in Components of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Fair Value Disclosures [Abstract]
Cumulative translation adjustments—net of tax	[1]		$ (14)		$ 1,290
Reclassification of derivative (gains) losses to earnings—net of tax		$ 327	(442)	$ 1,513	(2,211)
Change in fair value of derivatives—net of tax		(487)	241	1,304	1,149
Net change in cash flow derivative hedges—net of tax	[2]	(160)	(201)	2,817	(1,062)
Other comprehensive income—net of tax		$ (160)	$ (215)	$ 2,817	$ 228
[1]	Net of income tax benefit (provision) of $21 and $(551) for the three and nine months ended September 30, 2018, respectively.
[2]	Net of income tax provision of $57 and $242 for the three months ended September 30, 2019 and 2018, respectively. Net of income tax benefit (provision) of $998 and $(1,191) for the nine months ended September 30, 2019 and 2018 respectively.

Fair Value Measurements (Adjust

Fair Value Measurements (Adjustments Reclassified from Accumulated Balances Other Comprehensive Income (Loss) to Earnings) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Derivative Instruments Gain Loss [Line Items]
Other expense	$ (22)	$ 71	$ 273	$ (1,961)
Costs of contract revenues	137,942	139,087	428,027	371,718
Income tax (provision) benefit	(3,204)	(3,853)	(14,280)	(2,196)
Net income (loss)	(7,952)	(11,702)	(33,366)	(1,407)
Accumulated Foreign Currency Adjustment Attributable to Parent [Member] | Reclassification Out of Accumulated Other Comprehensive Income [Member]
Derivative Instruments Gain Loss [Line Items]
Other expense				(2,015)
Income tax (provision) benefit				527
Net income (loss)				(1,488)
Fuel Hedge Contracts [Member] | Accumulated Gain Loss Net Cash Flow Hedge Parent [Member] | Reclassification Out of Accumulated Other Comprehensive Income [Member]
Derivative Instruments Gain Loss [Line Items]
Costs of contract revenues	443	(599)	2,049	(2,995)
Income tax (provision) benefit	116	(157)	536	(784)
Net income (loss)	$ 327	$ (442)	$ 1,513	$ (2,211)

Share-Based Compensation (Narra

Share-Based Compensation (Narrative) (Details) - USD ($) shares in Thousands, $ in Thousands	May 11, 2017	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock units				542
Share-based compensation expense		$ 1,615	$ 843	$ 5,234	$ 2,829
Employees and Directors [Member] | 2017 Long-Term Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, number of shares available for grant	3,300
Employees and Directors [Member] | 2007 Long-Term Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Underlying equity awards issued	1,700

Revenue (Narrative) (Details)

Revenue (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Revenue From Contract With Customer [Line Items]
Revenue, remaining performance obligation	$ 653,733		$ 653,733
Percentage of performance obligation to be recognized as revenue			29.00%
Performance obligation, expected to be recognized as revenue year			2019
Remaining performance obligation, expected timing of satisfaction, year	2021		2021
Amortization on pre-construction costs	$ 3,097	$ 5,667	$ 8,846	$ 12,132
Other Current and Noncurrent Assets [Member]
Revenue From Contract With Customer [Line Items]
Costs to fulfill a contract with customer recognized as an asset	$ 9,420		$ 9,420		$ 13,129

Revenue (Summary of Contract Re

Revenue (Summary of Contract Revenues by Type of Work) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Disaggregation Of Revenue [Line Items]
Revenues	$ 169,775	$ 178,671	$ 547,223	$ 447,564
Type of Work [Member] | Operating Segment [Member] | Dredging [Member]
Disaggregation Of Revenue [Line Items]
Revenues	169,775	178,671	547,223	447,564
Type of Work [Member] | Operating Segment [Member] | Dredging [Member] | Capital-U.S. [Member]
Disaggregation Of Revenue [Line Items]
Revenues	62,518	105,934	214,668	252,537
Type of Work [Member] | Operating Segment [Member] | Dredging [Member] | Capital-Foreign [Member]
Disaggregation Of Revenue [Line Items]
Revenues	12,554	5,045	39,523	13,847
Type of Work [Member] | Operating Segment [Member] | Dredging [Member] | Coastal Protection [Member]
Disaggregation Of Revenue [Line Items]
Revenues	41,959	42,691	133,897	122,673
Type of Work [Member] | Operating Segment [Member] | Dredging [Member] | Maintenance [Member]
Disaggregation Of Revenue [Line Items]
Revenues	30,074	11,581	89,911	38,461
Type of Work [Member] | Operating Segment [Member] | Dredging [Member] | Rivers & Lakes [Member]
Disaggregation Of Revenue [Line Items]
Revenues	$ 22,670	$ 13,420	$ 69,224	$ 20,046

Revenue (Summary of Contract _2

Revenue (Summary of Contract Revenues by Type of Customer) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Disaggregation Of Revenue [Line Items]
Revenues	$ 169,775	$ 178,671	$ 547,223	$ 447,564
Type of Customer [Member] | Operating Segment [Member] | Dredging [Member]
Disaggregation Of Revenue [Line Items]
Revenues	169,775	178,671	547,223	447,564
Type of Customer [Member] | Operating Segment [Member] | Dredging [Member] | Federal Government [Member]
Disaggregation Of Revenue [Line Items]
Revenues	134,763	144,050	431,722	313,657
Type of Customer [Member] | Operating Segment [Member] | Dredging [Member] | State and Local Government [Member]
Disaggregation Of Revenue [Line Items]
Revenues	18,505	7,107	69,077	77,078
Type of Customer [Member] | Operating Segment [Member] | Dredging [Member] | Private [Member]
Disaggregation Of Revenue [Line Items]
Revenues	3,953	22,469	6,901	42,982
Type of Customer [Member] | Operating Segment [Member] | Dredging [Member] | Foreign [Member]
Disaggregation Of Revenue [Line Items]
Revenues	$ 12,554	$ 5,045	$ 39,523	$ 13,847

Revenue (Schedule of Accounts R

Revenue (Schedule of Accounts Receivable) (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Receivables [Abstract]
Completed contracts	$ 9,736	$ 8,592
Contracts in progress	15,688	48,418
Retainage	5,819	7,969
Accounts receivable, gross	31,243	64,979
Allowance for doubtful accounts	(200)	(200)
Total accounts receivable—net	$ 31,043	$ 64,779

Revenue (Components of Contract

Revenue (Components of Contracts in Progress) (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Accounts Notes And Loans Receivable [Line Items]
Costs and earnings in excess of billings for contracts in progress	$ 20,324	$ 16,137
Costs and earnings in excess of billings for completed contracts	7,171	3,928
Total contract revenues in excess of billings	27,495	20,065
Contract revenues in excess of billings	25,383	17,953
Long-term contract revenues in excess of billings	2,112	2,112
Total billings in excess of contract revenues	(69,387)	(17,793)
Costs And Earnings In Excess Of Billings [Member]
Accounts Notes And Loans Receivable [Line Items]
Costs and earnings for contracts in progress	188,042	433,093
Amounts billed	(167,718)	(416,956)
Billings In Excess Of Costs And Earnings [Member]
Accounts Notes And Loans Receivable [Line Items]
Costs and earnings for contracts in progress	406,378	242,898
Amounts billed	$ (475,765)	$ (260,691)

Restructuring Charges (Narrativ

Restructuring Charges (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Restructuring Cost And Reserve [Line Items]
Severance expense	$ 662
Severance [Member]
Restructuring Cost And Reserve [Line Items]
Estimated restructuring charge		$ 3,549
Asset Retirements [Member]
Restructuring Cost And Reserve [Line Items]
Estimated restructuring charge		32,309
Pre-contract Costs [Member]
Restructuring Cost And Reserve [Line Items]
Estimated restructuring charge		6,441
Closeout Costs [Member]
Restructuring Cost And Reserve [Line Items]
Estimated restructuring charge		$ 4,194

Restructuring Charges (Schedule

Restructuring Charges (Schedule of Restructuring Charges) (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2018
Restructuring Cost And Reserve [Line Items]
Restructuring charges	$ 3,996	$ 10,804
Loss on Sale of Assets - Net [Member]
Restructuring Cost And Reserve [Line Items]
Restructuring charges	1,737	890
Other Expense [Member]
Restructuring Cost And Reserve [Line Items]
Restructuring charges		2,015
Dredging [Member] | Costs of Contract Revenues - Depreciation [Member]
Restructuring Cost And Reserve [Line Items]
Restructuring charges	1,341	6,009
Dredging [Member] | Costs of Contract Revenues - Other [Member]
Restructuring Cost And Reserve [Line Items]
Restructuring charges	765	1,758
Dredging [Member] | General and Administrative Expenses [Member]
Restructuring Cost And Reserve [Line Items]
Restructuring charges	$ 153	$ 132

Commitments and Contingencies (

Commitments and Contingencies (Narrative) (Details)	Sep. 27, 2019USD ($)	Feb. 28, 2017USD ($)	Jan. 14, 2015USD ($)	Sep. 30, 2019USD ($)bbl	May 31, 2017USD ($)
Commitments And Contingencies [Line Items]
Outstanding performance bonds				$ 1,245,557,000
Revenue value remaining from outstanding performance bonds				$ 607,595,000
Proceeds from Legal Settlements			$ 5,309,000
Statutory maximum penalty per violation	$ 75
Crude Oil [Member]
Commitments And Contingencies [Line Items]
Quantity of oil spill | bbl				125
Surety Bond [Member]
Commitments And Contingencies [Line Items]
Aggregate demolition surety performance bond		$ 20,000,000
Letter of Credit [Member]
Commitments And Contingencies [Line Items]
Line of credit facility, maximum borrowing capacity					$ 20,881,000
Environmental and Infrastructure Segment [Member]
Commitments And Contingencies [Line Items]
Outstanding performance bonds				$ 41,085,000
Minimum [Member]
Commitments And Contingencies [Line Items]
Bids bond range				$ 1,000,000
Warranty periods				1 year
Loss contingency, Estimate of possible loss				$ 200,000
Maximum [Member]
Commitments And Contingencies [Line Items]
Bids bond range				$ 10,000,000
Warranty periods				3 years
Loss contingency, Estimate of possible loss				$ 250,000

Business Dispositions (Narrativ

Business Dispositions (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2019	Jun. 30, 2019
Discontinued Operations And Disposal Groups [Abstract]
Proceeds from sale of historical environmental and infrastructure business	$ 857	$ 17,500

Business Dispositions - (Schedu

Business Dispositions - (Schedule of Discontinued Operations) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Discontinued Operation Income Loss From Discontinued Operation Disclosures [Abstract]
Revenue		$ 25,651	$ 25,040	$ 53,941
Loss before income taxes from discontinued operations	$ (1,184)	(241)	(7,421)	(6,294)
Loss on disposal of assets held for sale	(2)		(2,632)
Income tax benefit	327	63	2,563	1,647
Loss from discontinued operations, net of income taxes	$ (859)	$ (178)	$ (7,490)	$ (4,647)

Business Dispositions - (Sche_2

Business Dispositions - (Schedule of Major Classes of Assets and Liabilities of Businesses Reported as Discontinued Operations) (Details) $ in Thousands	Dec. 31, 2018USD ($)
Assets:
Accounts receivable—net	$ 13,943
Contract revenues in excess of billings	9,971
Other current assets	865
Assets held for sale	24,779
Property and equipment—net	6,612
Goodwill	7,000
Other intangible assets—net	372
Other assets	1,699
Reserve for loss on disposal	(14,110)
Assets held for sale—noncurrent	1,573
Liabilities:
Accounts payable	8,343
Accrued expenses	4,380
Other current liabilities	1,217
Liabilities held for sale	13,940
Other liabilities	146
Liabilities held for sale—noncurrent	$ 146