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Contract Assets and Liabilities (Tables) | 6 Months Ended
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Jun. 30, 2020
Contract Assets and Liabilities |
Schedule of contract assets and liabilities from contracts with customers | Contract assets consisted of the following: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | June 30, |  | December 31, |  |  | ​
(in thousands) | ​ | 2020 | ​ | 2019 | ​ | Change
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Unbilled revenue, net | ​ | $ | 135,289 | ​ | $ | 126,087 | ​ | $ | 9,202
Contract retainages, net | ​ |  | 88,986 | ​ |  | 91,022 | ​ |  | (2,036)
Contract assets, net | ​ | $ | 224,275 | ​ | $ | 217,109 | ​ | $ | 7,166
Contract liabilities consisted of the following: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | June 30, |  | December 31, |  |  | ​
(in thousands) | ​ | 2020 | ​ | 2019 | ​ | Change
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Deferred revenue | ​ | $ | 126,446 | ​ | $ | 102,673 | ​ | $ | 23,773
Accrued loss provision | ​ |  | 2,256 | ​ |  | 2,813 | ​ |  | (557)
Contract liabilities | ​ | $ | 128,702 | ​ | $ | 105,486 | ​ | $ | 23,216
​ The following table provides information about contract assets and contract liabilities from contracts with customers: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | June 30, |  | December 31, |  |  | ​
(in thousands) | ​ | 2020 | ​ | 2019 | ​ | Change
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Contract assets, net | ​ | $ | 224,275 | ​ | $ | 217,109 | ​ | $ | 7,166
Contract liabilities | ​ |  | (128,702) | ​ |  | (105,486) | ​ |  | (23,216)
Net contract assets (liabilities) | ​ | $ | 95,573 | ​ | $ | 111,623 | ​ | $ | (16,050)
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) | ​ | 2020 | ​ | 2019
​ | ​ | ​ | ​ | ​ | ​ | ​
Costs and estimated earnings on uncompleted contracts | ​ | $ | 3,547,242 | ​ | $ | 3,532,886
Less: billings to date | ​ |  | 3,538,399 | ​ |  | 3,509,472
​ | ​ | $ | 8,843 | ​ | $ | 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: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | June 30, |  | December 31,
(in thousands) | ​ | 2020 | ​ | 2019
​ | ​ | ​ | ​ | ​ | ​ | ​
Unbilled revenue | ​ | $ | 135,289 | ​ | $ | 126,087
Deferred revenue | ​ |  | (126,446) | ​ |  | (102,673)
​ | ​ | $ | 8,843 | ​ | $ | 23,414

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- Definition Tabular disclosure of receivable, contract asset, and contract liability from contract with customer. Includes, but is not limited to, change in contract asset and contract liability. + 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=121604090&loc=SL49130551-203045 + Details
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- References No definition available. + Details
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- Definition Tabular disclosure of long-term contract or program. + References No definition available. + Details
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