Contract Assets and Liabilities (Tables)

12 Months Ended

Dec. 31, 2021

Contract with Customer, Contract Asset, Contract Liability, and Receivable [Abstract]

Schedule of contract assets and liabilities from contracts with customers

Contract assets consisted of the following at December 31:


(in thousands)	2021		2020		Change
Unbilled revenue, net	$	134,187	$	97,543	$	36,644
Contract retainages, net	90,888		88,260		2,628
Contract assets, net	$	225,075	$	185,803	$	39,272

Contract liabilities consisted of the following at December 31:


(in thousands)	2021		2020		Change
Deferred revenue	$	165,699	$	155,570	$	10,129
Accrued loss provision	2,232		2,826		(594)
Contract liabilities	$	167,931	$	158,396	$	9,535

The following table provides information about contract assets and contract liabilities from contracts with customers at December 31:


(in thousands)	2021		2020		Change
Contract assets	$	225,075	$	185,803	$	39,272
Contract liabilities	(167,931)		(158,396)		(9,535)
Net contract assets (liabilities)	$	57,144	$	27,407	$	29,737

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)	2021		2020
Costs and estimated earnings on uncompleted contracts	$	4,130,621	$	3,921,376
Less: billings to date	4,162,133		3,979,403
	$	(31,512)	$	(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 at December 31:


(in thousands)	2021		2020
Unbilled revenue, net	$	134,187	$	97,543
Deferred revenue	(165,699)		(155,570)
	$	(31,512)	$	(58,027)