Contract Assets and Liabilities (Tables)

12 Months Ended

Dec. 31, 2019

Schedule of contract assets and liabilities from contracts with customers

Contract assets consisted of the following at December 31:


(in thousands)	2019		2018		Change
Unbilled revenue	$	126,087	$	111,153	$	14,934
Contract retainages, net		91,022		49,128		41,894
Contract assets	$	217,109	$	160,281	$	56,828

Contract liabilities consisted of the following at December 31:


(in thousands)	2019		2018		Change
Deferred revenue	$	102,673	$	57,051	$	45,622
Accrued loss provision		2,813		1,483		1,330
Contract liabilities	$	105,486	$	58,534	$	46,952

The following table provides information about contract assets and contract liabilities from contracts with customers:


(in thousands)	2019		2018		Change
Contract assets	$	217,109	$	160,281	$	56,828
Contract liabilities		(105,486)		(58,534)		(46,952)
Net contract assets (liabilities)	$	111,623	$	101,747	$	9,876

Schedule of net asset position for contracts in process

The net asset position for contracts in process consisted of the following at December 31:


(in thousands)	2019		2018
Costs and estimated earnings on uncompleted contracts	$	3,532,886	$	2,718,713
Less: billings to date		3,509,472		2,664,611
	$	23,414	$	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 at December 31:


(in thousands)	2019		2018
Unbilled revenue	$	126,087	$	111,153
Deferred revenue		(102,673)		(57,051)
	$	23,414	$	54,102