4. BILLINGS, COSTS AND ESTIMATED EARNINGS ON UNCOMPLETED CONTRACTS

6 Months Ended

Jun. 30, 2014

Billings Costs And Estimated Earnings On Uncompleted Contracts

BILLINGS, COSTS AND ESTIMATED EARNINGS ON UNCOMPLETED CONTRACTS

The components of billings, costs and estimated earnings on uncompleted contracts are summarized below:

	June 30, 2014			December 31, 2013
Costs incurred on uncompleted contracts	$	4,165		$	14,496
Estimated earnings on uncompleted contracts		2,236			5,539
		6,401			20,035
Less: Billings to date on uncompleted contracts		(4,363	)		(14,389	)
	$	2,038		$	5,646
Included in the accompanying consolidated balance sheets under the following captions:
Costs and estimated earnings in excess of billings on uncompleted contracts	$	2,684		$	5,847
Billings in excess of costs and estimated earnings on uncompleted contracts		(646	)		(201	)
	$	2,038		$	5,646

The balances in costs and estimated earnings in excess of billings on uncompleted contracts at June 30, 2014 and December 31, 2013 consisted primarily of earned but unbilled revenues related to large fixed-price projects.

The balances in billings in excess of costs and estimated earnings on uncompleted contracts at June 30, 2014 and December 31, 2013 consisted primarily of unearned billings related to large fixed-price projects.