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Contracts in Progress | 6 Months Ended
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Jun. 30, 2024
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Abstract] |
Contracts in Progress | Contracts in Progress The following table reflects the calculation of the net balance of contract assets and contract liabilities. Costs and estimated earnings on contracts in progress consist of the following (in thousands):
| June 30, 2024 |  | December 31, 2023
Costs incurred on uncompleted contracts | $ | 380,668 |  |  | $ | 359,509 |
Estimated contract earnings in excess of costs incurred | 583,580 |  |  | 541,851 |
Estimated contract earnings to date | 964,248 |  |  | 901,360 |
Less: billed to date | (929,928) |  |  | (875,321) |
Net contract assets | $ | 34,320 |  |  | $ | 26,039 |

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