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Contract Assets and Liabilities (Tables)
 6 Months Ended
Jun. 30, 2019
Contractors [Abstract]  
Schedule of contract assets and liabilities from contracts with customers
Contract assets consisted of the following:
 
 
 
June 30,
 
 
December 31,
 
 
 
 
(in thousands)
 
2019
 
 
2018
 
 
Change
 
 
 
 
 
 
 
 
 
 
 
Unbilled revenue
 
$
109,287
 
 
$
111,153
 
 
$
(1,866
)
Contract retainages, net
 
 
65,518
 
 
 
49,128
 
 
 
16,390
 
Contract assets
 
$
174,805
 
 
$
160,281
 
 
$
14,524
 
 
Contract liabilities consisted of the following:
 
 
 
June 30,
 
 
December 31,
 
 
 
 
(in thousands)
 
2019
 
 
2018
 
 
Change
 
 
 
 
 
 
 
 
 
 
 
Deferred revenue
 
$
52,364
 
 
$
57,051
 
 
$
(4,687
)
Accrued loss provision
 
 
1,217
 
 
 
1,483
 
 
 
(266
)
Contract liabilities
 
$
53,581
 
 
$
58,534
 
 
$
(4,953
)
 
The following table provides information about contract assets and contract liabilities from contracts with customers:
 
 
 
June 30,
 
 
December 31,
 
 
 
 
(in thousands)
 
2019
 
 
2018
 
 
Change
 
 
 
 
 
 
 
 
 
 
 
Contract assets
 
$
174,805
 
 
$
160,281
 
 
$
14,524
 
Contract liabilities
 
 
(53,581
)
 
 
(58,534
)
 
 
4,953
 
Net contract assets (liabilities)
 
$
121,224
 
 
$
101,747
 
 
$
19,477
 
Schedule of net asset position for contracts in process
The net asset position for contracts in process consisted of the following:
 
 
 
June 30,
 
 
December 31,
 
(in thousands)
 
2019
 
 
2018
 
 
 
 
 
 
 
 
Costs and estimated earnings on uncompleted contracts
 
$
2,686,781
 
 
$
2,718,713
 
Less: billings to date
 
 
2,629,858
 
 
 
2,664,611
 
 
 
$
56,923
 
 
$
54,102
 
 
The net asset position for contracts in process is included within the contract asset and contract liability in the accompanying consolidated balance sheets as follows:
 
 
 
June 30,
 
 
December 31,
 
(in thousands)
 
2019
 
 
2018
 
 
 
 
 
 
 
 
Unbilled revenue
 
$
109,287
 
 
$
111,153
 
Deferred revenue
 
 
(52,364
)
 
 
(57,051
)
 
 
$
56,923
 
 
$
54,102