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Contract Assets and Liabilities (Tables)
6 Months Ended
Jun. 30, 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)June 30,
2021
December 31,
2020
Change
Unbilled revenue, net$105,727 $97,543 $8,184 
Contract retainages, net91,146 88,260 2,886 
Contract assets, net$196,873 $185,803 $11,070 
Contract liabilities consisted of the following:
(in thousands)June 30,
2021
December 31,
2020
Change
Deferred revenue$134,194 $155,570 $(21,376)
Accrued loss provision2,793 2,826 (33)
Contract liabilities$136,987 $158,396 $(21,409)
The following table provides information about contract assets and contract liabilities from contracts with customers:
(in thousands)June 30,
2021
December 31,
2020
Change
Contract assets, net$196,873 $185,803 $11,070 
Contract liabilities(136,987)(158,396)21,409 
Net contract assets (liabilities)$59,886 $27,407 $32,479 
Schedule of net asset position for contracts in process
The net asset position for contracts in process consisted of the following:
(in thousands)June 30,
2021
December 31,
2020
Costs and estimated earnings on uncompleted contracts$3,756,350 $3,921,376 
Less: billings to date3,784,817 3,979,403 
$(28,467)$(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)June 30,
2021
December 31,
2020
Unbilled revenue $105,727 $97,543 
Deferred revenue (134,194)(155,570)
$(28,467)$(58,027)