Contract Assets and Liabilities (Tables)

12 Months Ended

Dec. 31, 2020

Schedule of contract Assets and Liabilities From Contracts with Customers

Contract assets consisted of the following at December 31:


(in thousands)	2020		2019		Change
Unbilled revenue	$	97,543	$	126,087	$	(28,544)
Contract retainages, net	88,260		91,022		(2,762)
Contract assets	$	185,803	$	217,109	$	(31,306)

Contract liabilities consisted of the following at December 31:


(in thousands)	2020		2019		Change
Deferred revenue	$	155,570	$	102,673	$	52,897
Accrued loss provision	2,826		2,813		13
Contract liabilities	$	158,396	$	105,486	$	52,910

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


(in thousands)	2020		2019		Change
Contract assets	$	185,803	$	217,109	$	(31,306)
Contract liabilities	(158,396)		(105,486)		(52,910)
Net contract assets (liabilities)	$	27,407	$	111,623	$	(84,216)

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)	2020		2019
Costs and estimated earnings on uncompleted contracts	$	3,921,376	$	3,532,886
Less: billings to date	3,979,403		3,509,472
	$	(58,027)	$	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 at December 31:


(in thousands)	2020		2019
Unbilled revenue	$	97,543	$	126,087
Deferred revenue	(155,570)		(102,673)
	$	(58,027)	$	23,414