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Note 16 - Revenue | 12 Months Ended
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Dec. 31, 2019
Notes to Financial Statements |
Revenue from Contract with Customer [Text Block] |
16. | REVENUE:
The Company adopted ASC Topic 606, “Revenue from Contracts with Customers,” (“Topic 606” ) on January 1, 2018 using the modified retrospective method applied to those contracts that were not completed as of that date. The cumulative effect of adopting Topic 606 was a $0.9 million decrease to Retained earnings as of January 1, 2018 due to a change in the timing of revenue recognition on certain costs under the new revenue standard, as well as, to a lesser extent, a change in the costs included in the provisions for losses on uncompleted contracts. Under the modified retrospective method, periods prior to January 1, 2018 were not adjusted and continue to be reported in accordance with accounting standards in effect for those periods. Net sales from continuing operations by geographic region, based on the location of the customer, were as follows (in thousands):
|  | Year Ended December 31, |
|  | 2019 |  |  | 2018 |  |  | 2017 |
Net sales from continuing operations by geographic region: |  |  |  |  |  |  |  |  |  |  |  |
United States |  | $ | 252,797 |  |  | $ | 161,415 |  |  | $ | 122,179 |
Canada |  |  | 26,520 |  |  |  | 10,734 |  |  |  | 10,601 |
Total |  | $ | 279,317 |  |  | $ | 172,149 |  |  | $ | 132,780 |
One customer accounted for 23% of total Net sales from continuing operations for the year ended December 31, 2019. No customer accounted for 10% or more of total Net sales from continuing operations for the years ended December 31, 2018 or 2017. Revisions in contract estimates resulted in a decrease in revenue of $1.2 million, $0.2 million, and $0.2 million for the years ended December 31, 2019, 2018, and 2017, respectively. Contract Assets and Liabilities The difference between the opening and closing balances of the Company’s Contract assets and Contract liabilities primarily results from the timing difference between the Company’s performance and billings, and during the year ended December 31, 2018, an increase due to the acquisition of Ameron of $12.0 million of Contract assets and $0.1 million of Contract liabilities. The changes in the Contract assets and Contract liabilities balances during the years ended December 31, 2019, 2018, and 2017 were not materially affected by any other factors. The Company recognized revenue that was included in the contract liabilities balance at the beginning of each period of $3.7 million, $2.6 million, and $1.9 million during the years ended December 31, 2019, 2018, and 2017, respectively. Backlog Backlog represents the balance of remaining performance obligations under signed contracts. As of December 31, 2019, backlog was approximately $199 million. The Company expects to recognize approximately 74% of the remaining performance obligations in 2020 , 25% in 2021 , and the balance thereafter.

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -URI http://asc.fasb.org/topic&trid=49130388 + Details
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