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Costs and Estimated Earnings on Uncompleted Contracts
 12 Months Ended
Dec. 31, 2017
Contractors [Abstract]  
Costs and Estimated Earnings on Uncompleted Contracts

NOTE 7 – COSTS AND ESTIMATED EARNINGS ON UNCOMPLETED CONTRACTS

Uncompleted contracts were as follows (in thousands):

 

     As of
December 31, 2017		  

Costs incurred on uncompleted contracts

    $ 79,235  

Estimated earnings

      44,035  
  

 

 

  

Total

      123,270  

Less: Billings to date

      121,464  
  

 

 

  

Net under (over) billings

    $   1,806  
  

 

 

  

Net under (over) billings were as follows (in thousands):

 

    

As of
December 31, 2017

  

Costs and estimated earnings in excess of billings on uncompleted contracts

    $ 6,182  

Billings in excess of costs and estimated earnings on uncompleted contracts

      (4,376 ) 
  

 

 

  

Net under (over) billings

    $ 1,806  
  

 

 

  

The asset, costs and estimated earnings in excess of billings on uncompleted contracts, represents revenues recognized in excess of amounts billed and is included in other current assets in our Consolidated Balance Sheets. The liability, billings in excess of costs and estimated earnings on uncompleted contracts, represents billings in excess of revenues recognized and is included in other current liabilities in our Consolidated Balance Sheets.