XML 23 R12.htm IDEA: XBRL DOCUMENT v3.24.3
Costs and Estimated Earnings on Uncompleted Contracts
 9 Months Ended
Sep. 30, 2024
Costs and Estimated Earnings on Uncompleted Contracts [Abstract]  
Costs and Estimated Earnings on Uncompleted Contracts


‎

4.COSTS AND ESTIMATED EARNINGS ON UNCOMPLETED CONTRACTS

The Company’s costs and estimated earnings on uncompleted contracts are comprised of the following:

As of

As of

September 30, 2024

December 31, 2023

(in thousands)

Costs incurred on uncompleted contracts

$

58,392

$

98,674

Estimated earnings

25,381

64,589

Billings to date

(61,823)

(152,608)

$

21,950

$

10,655

These amounts are included in the Consolidated Balance Sheets under the following captions:

As of

As of

September 30, 2024

December 31, 2023

(in thousands)

Costs and estimated earnings in excess of billings on uncompleted contracts

$

24,742

$

16,252

Billings in excess of costs and estimated earnings on

uncompleted contracts (included in Other current liabilities)

(2,792)

(5,597)

$

21,950

$

10,655

At September 30, 2024 and December 31, 2023, the two largest customers comprised 91.6% and 84.6%, respectively, of the costs and estimated earnings in excess of billings on uncompleted contracts, net of billings in excess of costs and estimated earnings.