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Contract Assets and Liabilities (Tables) | 9 Months Ended
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Sep. 30, 2021
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Abstract] |
Schedule of Contract Assets and Liabilities | Contract assets include amounts due under retainage provisions, costs and estimated earnings in excess of billings and capitalized contract costs. The amounts as included on the Condensed Consolidated Balance Sheets consisted of the following:
(in thousands) | As of September 30, 2021 | As of December 31, 2020
Retainage receivable | $ | 637,124 |  | $ | 648,441 |
Costs and estimated earnings in excess of billings: |  |
Claims | 840,176 |  | 752,783 |
Unapproved change orders | 448,600 |  | 415,489 |
Other unbilled costs and profits | 99,234 |  | 68,462 |
Total costs and estimated earnings in excess of billings | 1,388,010 |  | 1,236,734 |
Capitalized contract costs | 72,543 |  | 74,452 |
Total contract assets | $ | 2,097,677 |  | $ | 1,959,627 |
Contract liabilities include amounts owed under retainage provisions and billings in excess of costs and estimated earnings. The amount as reported on the Condensed Consolidated Balance Sheets consisted of the following:
(in thousands) | As of September 30, 2021 | As of December 31, 2020
Retainage payable | $ | 286,036 |  | $ | 315,135 |
Billings in excess of costs and estimated earnings | 754,939 |  | 839,222 |
Total contract liabilities | $ | 1,040,975 |  | $ | 1,154,357 |

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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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