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Contract Assets and Liabilities (Tables) | 6 Months Ended
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Jun. 30, 2022
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, 2022 |  | December 31, 2021 |  | Change
Unbilled revenue, net |  | $ | 165,839 |  |  | $ | 134,187 |  |  | $ | 31,652 |
Contract retainages, net |  | 114,879 |  |  | 90,888 |  |  | 23,991 |
Contract assets, net |  | $ | 280,718 |  |  | $ | 225,075 |  |  | $ | 55,643 |
Contract liabilities consisted of the following:
(in thousands) |  | June 30, 2022 |  | December 31, 2021 |  | Change
Deferred revenue |  | $ | 200,929 |  |  | $ | 165,699 |  |  | $ | 35,230 |
Accrued loss provision |  | 2,234 |  |  | 2,232 |  |  | 2 |
Contract liabilities |  | $ | 203,163 |  |  | $ | 167,931 |  |  | $ | 35,232 |
The following table provides information about contract assets and contract liabilities from contracts with customers:
(in thousands) |  | June 30, 2022 |  | December 31, 2021 |  | Change
Contract assets, net |  | $ | 280,718 |  |  | $ | 225,075 |  |  | $ | 55,643 |
Contract liabilities |  | (203,163) |  |  | (167,931) |  |  | (35,232) |
Net contract assets (liabilities) |  | $ | 77,555 |  |  | $ | 57,144 |  |  | $ | 20,411 |
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, 2022 |  | December 31, 2021
Costs and estimated earnings on uncompleted contracts |  | $ | 4,492,937 |  |  | $ | 4,130,621 |
Less: billings to date |  | 4,528,027 |  |  | 4,162,133 |
|  | $ | (35,090) |  |  | $ | (31,512) |
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, 2022 |  | December 31, 2021
Unbilled revenue |  | $ | 165,839 |  |  | $ | 134,187 |
Deferred revenue |  | (200,929) |  |  | (165,699) |
|  | $ | (35,090) |  |  | $ | (31,512) |

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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=123351226&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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