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10-K Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2023

Accounting Policies [Abstract]

New accounting pronouncements applicable and the potential impact

The following table provides a brief description of the accounting pronouncements applicable to the Company and the potential impact on its consolidated financial statements and/or disclosures:

Standard			Description			Effective Date			Impact on financial statements/disclosures
Recently adopted accounting standards updates (ASU’s)
ASU 2021-10 - Government Assistance			In November 2021, the FASB issued guidance on modifying the disclosure requirements to increase the transparency of government assistance including disclosure of the types of assistance, an entity’s accounting for the assistance and the effect of the assistance on an entity’s financial statements.			January 1, 2022			The Company determined the guidance did not have a material impact on its disclosures for the year ended December 31, 2022.

Schedule of accounts, notes, loans and financing receivable

Receivables, net consisted of the following at December 31:

			2022						2021
			(In thousands)
Trade receivables			$	104,347					$	98,114
Contracting services contract receivables			82,428						70,768
Retention receivables			28,859						25,173
Receivables, gross			215,634						194,055
Less expected credit loss			5,477						5,406
Receivables, net			$	210,157					$	188,649

Receivables were as follows:

			June 30, 2023						December 31, 2022
			(In thousands)
Trade receivables			$	220,948					$	104,347
Contract receivables			173,318						82,428
Retention receivables			30,224						28,859
Receivables, gross			424,490						215,634
Less expected credit loss			5,870						5,477
Receivables, net			$	418,620					$	210,157

Accounts receivable, allowance for credit loss

Details of the Company’s expected credit losses were as follows:

			Pacific						Northwest						Mountain						North Central						Other						Total
			(In thousands)
At December 31, 2020			$	2,696					$	824					$	1,258					$	1,179					$	207					$	6,164
Current expected credit loss provision*			$	(543)					$	(112)					$	577					$	106					$	40					$	68
Less write-offs charged against the allowance			$	101					$	200					$	225					$	133					$	167					$	826
At December 31, 2021			$	2,052					$	512					$	1,610					$	1,152					$	80					$	5,406
Current expected credit loss provision			$	27					$	946					$	(206)					$	(253)					$	24					$	538
Less write-offs charged against the allowance			$	34					$	205					$	126					$	60					$	42					$	467
At December 31, 2022			$	2,045					$	1,253					$	1,278					$	839					$	62					$	5,477

__________________

*Includes impacts from businesses acquired.

Details of the Company's expected credit losses were as follows:

			Pacific						Northwest						Mountain						North Central						All Other						Total
			(In thousands)
At December 31, 2022			$	2,045					$	1,253					$	1,278					$	839					$	62					$	5,477
Current expected credit loss provision			45						313						164						(89)						(1)						432
Less write-offs charged against the allowance			1						68						18						—						—						87
At March 31, 2023			$	2,089					$	1,498					$	1,424					$	750					$	61					$	5,822
Current expected credit loss provision			9						74						631						(132)						1						583
Less write-offs charged against the allowance			18						512						3						—						2						535
At June 30, 2023			$	2,080					$	1,060					$	2,052					$	618					$	60					$	5,870

			Pacific						Northwest						Mountain						North Central						All Other						Total
			(In thousands)
At December 31, 2021			$	2,052					$	512					$	1,610					$	1,152					$	80					$	5,406
Current expected credit loss provision			1						(125)						(130)						6						(5)						(253)
Less write-offs charged against the allowance			1						20						4						1						1						27
At March 31, 2022			$	2,052					$	367					$	1,476					$	1,157					$	74					$	5,126
Current expected credit loss provision			11						58						(17)						(37)						(3)						12
Less write-offs charged against the allowance			—						56						4						47						2						109
At June 30, 2022			$	2,063					$	369					$	1,455					$	1,073					$	69					$	5,029

Inventories

Inventories at December 31 consisted of:

			2022						2021
			(In thousands)
Finished products			$	211,496					$	195,616
Raw materials			$	78,571					$	68,504
Supplies and parts			$	33,210					$	27,325
Total			$	323,277					$	291,445

Inventories on the Consolidated Balance Sheets were as follows:

			June 30, 2023						December 31, 2022
			(In thousands)
Finished products			$	227,683					$	211,496
Raw materials			104,689						78,571
Supplies and parts			42,005						33,210
Total			$	374,377					$	323,277

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