Costs and Estimated Earnings on Uncompleted Contracts

12 Months Ended

Dec. 31, 2019

Costs and Estimated Earnings on Uncompleted Contracts [Abstract]

Costs and Estimated Earnings on Uncompleted Contracts

5.COSTS AND ESTIMATED EARNINGS ON UNCOMPLETED CONTRACTS

The Company’s costs and estimated earnings on uncompleted contracts are comprised of the following:

	As of		As of
	December 31, 2019		December 31, 2018
	(in thousands)
Costs incurred on uncompleted contracts	$	52,339	$	38,464
Estimated earnings		19,954		16,655
Billings to date		(47,401)		(31,952)
	$	24,892	$	23,167

These amounts are included in the Consolidated Balance Sheets under the following captions:

	As of		As of
	December 31, 2019		December 31, 2018
	(in thousands)
Costs and estimated earnings in excess of billings on uncompleted contracts	$	26,313	$	23,785
Billings in excess of costs and estimated earnings on
uncompleted contracts (included in Other current liabilities)		(1,421)		(618)
	$	24,892	$	23,167

At December 31, 2019 and 2018, eight customers comprised 94.4% and 96.3%, respectively, of the costs and estimated earnings in excess of billings on uncompleted contracts, net of billings in excess of costs and estimated earnings, respectively.