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BACKLOG
3 Months Ended
Mar. 31, 2015
BACKLOG [Abstract]  
BACKLOG

16. BACKLOG

 

Schuff’s backlog was $306.1 million ($253.3 million under contracts or purchase orders and $52.8 million under letters of intent) at March 31, 2015. Schuff’s backlog increases as contract commitments, letters of intent, notices to proceed and purchase orders are obtained, decreases as revenues are recognized and increases or decreases to reflect modifications in the work to be performed under the contracts, notices to proceed, letters of intent or purchase orders. Schuff’s backlog can be significantly affected by the receipt, or loss, of individual contracts. Approximately $172.4 million, representing 56.3% of Schuff’s backlog at March 31, 2015, was attributable to five contracts, letters of intent, notices to proceed or purchase orders. If one or more of these large contracts or other commitments are terminated or their scope reduced, Schuff’s backlog could decrease substantially.