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v3.19.3

Contract Assets and Liabilities (Tables) | 9 Months Ended
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Sep. 30, 2019
Contract Assets and Liabilities |
Schedule of contract assets and liabilities from contracts with customers | Contract assets consisted of the following:
|  | September 30, |  | December 31, |  |  |
(in thousands) |  | 2019 |  | 2018 |  | Change
Unbilled revenue |  | $ | 150,485 |  | $ | 111,153 |  | $ | 39,332
Contract retainages, net |  |  | 88,007 |  |  | 49,128 |  |  | 38,879
Contract assets |  | $ | 238,492 |  | $ | 160,281 |  | $ | 78,211
Contract liabilities consisted of the following:
|  | September 30, |  | December 31, |  |  |
(in thousands) |  | 2019 |  | 2018 |  | Change
Deferred revenue |  | $ | 75,641 |  | $ | 57,051 |  | $ | 18,590
Accrued loss provision |  |  | 1,652 |  |  | 1,483 |  |  | 169
Contract liabilities |  | $ | 77,293 |  | $ | 58,534 |  | $ | 18,759
The following table provides information about contract assets and contract liabilities from contracts with customers:
|  | September 30, |  | December 31, |  |  |
(in thousands) |  | 2019 |  | 2018 |  | Change
Contract assets |  | $ | 238,492 |  | $ | 160,281 |  | $ | 78,211
Contract liabilities |  |  | (77,293) |  |  | (58,534) |  |  | (18,759)
Net contract assets (liabilities) |  | $ | 161,199 |  | $ | 101,747 |  | $ | 59,452
Schedule of net asset position for contracts in process | The net asset position for contracts in process consisted of the following:
|  | September 30, |  | December 31,
(in thousands) |  | 2019 |  | 2018
Costs and estimated earnings on uncompleted contracts |  | $ | 3,335,968 |  | $ | 2,718,713
Less: billings to date |  |  | 3,261,124 |  |  | 2,664,611
|  | $ | 74,844 |  | $ | 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:
|  | September 30, |  | December 31,
(in thousands) |  | 2019 |  | 2018
Unbilled revenue |  | $ | 150,485 |  | $ | 111,153
Deferred revenue |  |  | (75,641) |  |  | (57,051)
|  | $ | 74,844 |  | $ | 54,102

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- Definition Tabular disclosure of contract balances and changes in contract balances. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=118956577&loc=SL49130551-203045 + Details
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- References No definition available. + Details
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- Definition Tabular disclosure for billings on uncompleted contracts in excess of costs and costs of uncompleted contracts in excess of billings. + References No definition available. + Details
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