Revenue from Contracts with Customers (Tables)

3 Months Ended

Mar. 31, 2022

Revenue from Contract with Customer [Abstract]

Schedule of Components of Contract Asset and Liability Balances

Contract assets include amounts due under retainage provisions and costs and estimated earnings in excess of billings. The components of the contract asset balances as of the respective dates were as follows:


(in thousands)	March 31, 2022		December 31, 2021		Change
Contract assets
Costs in excess of billings and estimated earnings	$	41,949	$	47,447	$	(5,498)
Retainage receivable	33,594		36,416		(2,822)
Total contract assets	$	75,543	$	83,863	$	(8,320)

Contract liabilities include billings in excess of contract costs and provisions for losses. The components of the contract liability balances as of the respective dates were as follows:


(in thousands)	March 31, 2022		December 31, 2021		Change
Contract liabilities
Billings in excess of costs and estimated earnings	$	34,053	$	26,293	$	7,760
Provisions for losses	391		419		(28)
Total contract liabilities	$	34,444	$	26,712	$	7,732

Schedule of Contracts In Progress

The net underbilling position for contracts in process consisted of the following:


(in thousands)	March 31, 2022		December 31, 2021
Revenue earned on uncompleted contracts	$	679,170	$	758,450
Less: Billings to date	(671,274)		(737,296)
Net underbilling	$	7,896	$	21,154


(in thousands)	March 31, 2022		December 31, 2021
Costs in excess of billings and estimated earnings	$	41,949	$	47,447
Billings in excess of costs and estimated earnings	(34,053)		(26,293)
Net underbilling	$	7,896	$	21,154

Schedule of Revisions in Contract Estimates

The following table summarizes the Company’s recorded revisions in its contract estimates for certain GCR and ODR projects for the three months ended March 31, 2022 and 2021 (includes material gross profit changes of $0.25 million or more).


	For the Three Months Ended March 31,
	2022			2021
(in thousands except number of projects )			Number of Projects			Number of Projects
Gross profit write-ups:
GCR	$	533	2	$	743	2
ODR	—		—	—		—
Total gross profit write-ups	$	533	2	$	743	2

Gross profit write-downs:
GCR	$	(604)	2	$	(768)	2
ODR	—		—	—		—
Total gross profit write-downs	$	(604)	2	$	(768)	2

Total gross profit write-downs, net	$	(71)		$	(25)