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Contract Assets and Liabilities (Tables) | 3 Months Ended
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Mar. 31, 2021
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Abstract] |
Schedule of contract assets and liabilities | Contract assets consisted of the following:
(in thousands) |  | March 31, 2021 |  | December 31, 2020 |  | Change
Unbilled revenue, net |  | $ | 108,268 |  |  | $ | 97,543 |  |  | $ | 10,725 |
Contract retainages, net |  | 84,615 |  |  | 88,260 |  |  | (3,645) |
Contract assets, net |  | $ | 192,883 |  |  | $ | 185,803 |  |  | $ | 7,080 |
Contract liabilities consisted of the following:
(in thousands) |  | March 31, 2021 |  | December 31, 2020 |  | Change
Deferred revenue |  | $ | 138,180 |  |  | $ | 155,570 |  |  | $ | (17,390) |
Accrued loss provision |  | 2,134 |  |  | 2,826 |  |  | (692) |
Contract liabilities |  | $ | 140,314 |  |  | $ | 158,396 |  |  | $ | (18,082) |
The following table provides information about contract assets and contract liabilities from contracts with customers:
(in thousands) |  | March 31, 2021 |  | December 31, 2020 |  | Change
Contract assets, net |  | $ | 192,883 |  |  | $ | 185,803 |  |  | $ | 7,080 |
Contract liabilities |  | (140,314) |  |  | (158,396) |  |  | 18,082 |
Net contract assets (liabilities) |  | $ | 52,569 |  |  | $ | 27,407 |  |  | $ | 25,162 |
Schedule of net asset position for contracts in process | The net asset position for contracts in process consisted of the following:
(in thousands) |  | March 31, 2021 |  | December 31, 2020
Costs and estimated earnings on uncompleted contracts |  | $ | 3,705,959 |  |  | $ | 3,921,376 |
Less: billings to date |  | 3,735,871 |  |  | 3,979,403 |
|  | $ | (29,912) |  |  | $ | (58,027) |
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) |  | March 31, 2021 |  | December 31, 2020
Unbilled revenue |  | $ | 108,268 |  |  | $ | 97,543 |
Deferred revenue |  | (138,180) |  |  | (155,570) |
|  | $ | (29,912) |  |  | $ | (58,027) |

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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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- Definition Tabular disclosure of long-term contract or program. + References No definition available. + Details
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