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CONTRACTS RECEIVABLE AND RETAINAGE | 6 Months Ended
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Jun. 30, 2017
Contractors [Abstract] |
CONTRACTS RECEIVABLE AND RETAINAGE | CONTRACTS RECEIVABLE AND RETAINAGE Our customers include major and large independent oil and gas companies, petrochemical and industrial facilities, marine companies and their contractors. Of our contracts receivable balance at June 30, 2017, $18.0 million, or 47.4%, was with two customers. The significant projects for these two customers consist of:
• | one large petroleum supply vessel for a customer in our Shipyards segment that was tendered for delivery on February 6, 2017 (see also Note 9 regarding this receivable as this customer has refused delivery of the vessel); and
• | the fabrication of four modules associated with a U.S. ethane cracker project.
As of June 30, 2017, we included an allowance for bad debt of $1.3 million in our contract receivable balance which primarily relates to a customer within our Fabrication division for the storage of an offshore drilling platform that was fully reserved in 2016.

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