XML 22 R12.htm IDEA: XBRL DOCUMENT
v3.22.0.1

Revenue Disaggregation, Contract Assets and Contract liabilities | 12 Months Ended
--- | ---
Dec. 31, 2021
Operating revenues: |
Revenue Disaggregation, Contract Assets and Contract liabilities |
| Note 6. | Revenue Disaggregation, Contract Assets and Contract liabilities
Disaggregation of Total Net Sales The Company disaggregates its sales with customers by revenue recognition method for its only segment, as the Company believes these factors affect the nature, amount, timing, and uncertainty of the Company’s revenue and cash flows. Schedule of Disaggregation by Revenue
|  | Year ended December 31, |
|  | 2021 |  |  | 2020 |
Fixed price contracts |  | $ | 77,417 |  |  | $ | 103,423 |
Product sales |  |  | 419,368 |  |  |  | 273,184 |
Total Revenues |  | $ | 496,785 |  |  | $ | 376,607 |
Remaining Performance Obligations As of December 31, 2021, the Company had $248.1 million of remaining performance obligations, which represents the transaction price of firm orders minus sales recognized from inception to date. Remaining performance obligations exclude unexercised contract options, verbal commitments, and potential orders under basic ordering agreements. The Company expects to recognize 100% of sales relating to existing performance obligations within two years, of which $232.7 million are expected to be recognized during the year ended December 31, 2022, and $15.4 million during the year ended December 31, 2023. Contract Assets and Contract Liabilities Contract assets represent accumulated incurred costs and earned profits on contracts with customers that have been recorded as sales but have not been billed to customers and are classified as current. As a result, the timing of the satisfaction of performance obligations might differ from the timing of payments, given some conditions must be met before billing can occur. Contract assets also include a portion of the amounts billed on certain fixed price contracts that are withheld by the customer as a retainage until a final good receipt of the complete project to the customers satisfaction. Contract liabilities consist of advance payments and billings in excess of costs incurred and deferred revenue, and represent amounts received in excess of sales recognized on contracts. The Company classifies advance payments and billings in excess of costs incurred as current, and deferred revenue as current or non-current based on the expected timing of sales recognition. Contract assets and contract liabilities are determined on a contract by contract basis at the end of each reporting period. The non-current portion of contract liabilities is included in other liabilities in the Company’s consolidated balance sheets. The table below presents the components of net contract assets (liabilities). Schedule of Contract Assets and Liabilities
|  | December 31, 2021 |  |  | December 31, 2020 |
Contract assets — current |  | $ | 18,667 |  |  | $ | 28,405 |
Contract assets — non-current |  |  | 11,853 |  |  |  | 10,228 |
Contract liabilities — current |  |  | (45,213 | ) |  |  | (27,242 | )
Contract liabilities — non-current |  |  | (78 | ) |  |  | (977 | )
Net contract (liabilities) assets |  | $ | (14,771 | ) |  | $ | 10,414 |
The components of contract assets are presented in the table below. Schedule of Contract Assets and Liabilities
|  | December 31, 2021 |  |  | December 31, 2020 |
Unbilled contract receivables, gross |  | $ | 8,174 |  |  | $ | 13,534 |
Retainage |  |  | 22,346 |  |  |  | 25,099 |
Total contract assets |  |  | 30,520 |  |  |  | 38,633 |
Less: current portion |  |  | 18,667 |  |  |  | 28,405 |
Contract assets – non-current |  | $ | 11,853 |  |  | $ | 10,228 |
The components of contract liabilities are presented in the table below. Schedule of Contract Assets and Liabilities
|  | December 31, 2021 |  |  | December 31, 2020 |
Billings in excess of costs |  | $ | 12,854 |  |  |  | 7,191 |
Advances from customers on uncompleted contracts |  |  | 32,437 |  |  |  | 21,028 |
Total contract liabilities |  |  | 45,291 |  |  |  | 28,219 |
Less: current portion |  |  | 45,213 |  |  |  | 27,242 |
Contract liabilities – non-current |  | $ | 78 |  |  |  | 977 |
During the year ended December 31, 2021, the Company recognized $6,765 of sales related to its billing in excess of cost liability on January 1, 2021. During the year ended December 31, 2020, the Company recognized $4,469 of sales related to its contract liabilities on January 1, 2020.

X
- References No definition available. + Details
Name: | us-gaap_RevenueFromContractWithCustomerAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -URI http://asc.fasb.org/topic&trid=49130388 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130551-203045 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (b)(2) -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130556-203045 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130550-203045 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130558-203045 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045 + Details
Name: | us-gaap_RevenueFromContractWithCustomerTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration