Equipment Acquisitions and Dispositions
|3 Months Ended|
Mar. 31, 2020
|Property, Plant and Equipment [Abstract]|
|Equipment Acquisitions and Dispositions||
3. EQUIPMENT ACQUISITIONS AND DISPOSITIONS
During the three months ended March 31, 2020, capital expenditures were $6.4 million and primarily related to the construction of harbor tugs and the purchase of machinery and equipment.
During the three months ended March 31, 2020, the Company sold equipment for net proceeds of $0.1 million and gains of $0.1 million. In addition, the Company recognized previously deferred gains of $0.3 million.
The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef