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v3.20.1

Contract Assets and Liabilities (Tables) | 3 Months Ended
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Mar. 31, 2020
Contract Assets and Liabilities |
Schedule of contract assets and liabilities from contracts with customers | Contract assets consisted of the following:
|  | March 31, |  | December 31, |  |  |
(in thousands) |  | 2020 |  | 2019 |  | Change
Unbilled revenue, net |  | $ | 128,015 |  | $ | 126,087 |  | $ | 1,928
Contract retainages, net |  |  | 95,703 |  |  | 91,022 |  |  | 4,681
Contract assets, net |  | $ | 223,718 |  | $ | 217,109 |  | $ | 6,609
Contract liabilities consisted of the following:
|  | March 31, |  | December 31, |  |  |
(in thousands) |  | 2020 |  | 2019 |  | Change
Deferred revenue |  | $ | 98,597 |  | $ | 102,673 |  | $ | (4,076)
Accrued loss provision |  |  | 2,038 |  |  | 2,813 |  |  | (775)
Contract liabilities |  | $ | 100,635 |  | $ | 105,486 |  | $ | (4,851)
The following table provides information about contract assets and contract liabilities from contracts with customers:
|  | March 31, |  | December 31, |  |  |
(in thousands) |  | 2020 |  | 2019 |  | Change
Contract assets, net |  | $ | 223,718 |  | $ | 217,109 |  | $ | 6,609
Contract liabilities |  |  | (100,635) |  |  | (105,486) |  |  | 4,851
Net contract assets (liabilities) |  | $ | 123,083 |  | $ | 111,623 |  | $ | 11,460
Schedule of net asset position for contracts in process | The net asset position for contracts in process consisted of the following:
|  | March 31, |  | December 31,
(in thousands) |  | 2020 |  | 2019
Costs and estimated earnings on uncompleted contracts |  | $ | 3,455,512 |  | $ | 3,532,886
Less: billings to date |  |  | 3,426,094 |  |  | 3,509,472
|  | $ | 29,418 |  | $ | 23,414
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:
|  | March 31, |  | December 31,
(in thousands) |  | 2020 |  | 2019
Unbilled revenue |  | $ | 128,015 |  | $ | 126,087
Deferred revenue |  |  | (98,597) |  |  | (102,673)
|  | $ | 29,418 |  | $ | 23,414

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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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