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Contract Assets and Liabilities (Tables)
9 Months Ended
Sep. 30, 2020
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Abstract]  
Schedule of contract assets and liabilities
Contract assets consisted of the following:
(in thousands)September 30,
2020
December 31,
2019
Change
Unbilled revenue, net$128,785 $126,087 $2,698 
Contract retainages, net92,806 91,022 1,784 
Contract assets, net$221,591 $217,109 $4,482 
Contract liabilities consisted of the following:
(in thousands)September 30,
2020
December 31,
2019
Change
Deferred revenue$123,301 $102,673 $20,628 
Accrued loss provision2,310 2,813 (503)
Contract liabilities$125,611 $105,486 $20,125 
The following table provides information about contract assets and contract liabilities from contracts with customers:
(in thousands)September 30,
2020
December 31,
2019
Change
Contract assets, net$221,591 $217,109 $4,482 
Contract liabilities(125,611)(105,486)(20,125)
Net contract assets (liabilities)$95,980 $111,623 $(15,643)
Schedule of net asset position for contracts in process
The net asset position for contracts in process consisted of the following:
(in thousands)September 30,
2020
December 31,
2019
Costs and estimated earnings on uncompleted contracts$3,710,876 $3,532,886 
Less: billings to date3,705,392 3,509,472 
$5,484 $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:
(in thousands)September 30,
2020
December 31,
2019
Unbilled revenue $128,785 $126,087 
Deferred revenue (123,301)(102,673)
$5,484 $23,414