3. COSTS, ESTIMATED EARNINGS AND BILLINGS ON UNCOMPLETED CONTRACTS

12 Months Ended

Dec. 31, 2015

Contractors [Abstract]

COSTS, ESTIMATED EARNINGS AND BILLINGS ON UNCOMPLETED CONTRACTS

Costs, estimated earnings and billings on uncompleted contracts are summarized below:

	December 31, 2015			December 31, 2014
Costs incurred on uncompleted contracts	$	3,220		$	10,500
Estimated earnings on uncompleted contracts		2,282			3,893
		5,502			14,393
Less: Billings to date on uncompleted contracts		(4,194	)		(7,585	)
	$	1,308		$	6,808
Included in the accompanying consolidated balance sheets under the following captions:
Costs and estimated earnings in excess of billings on uncompleted contracts	$	1,354		$	6,808
Billings in excess of costs and estimated earnings on uncompleted contracts		(46	)		–
	$	1,308		$	6,808

The balance in costs and estimated earnings in excess of billings on uncompleted contracts at December 31, 2015 and 2014 consisted primarily of earned but unbilled revenues related to fixed-price projects.

The balance in billings in excess of costs and estimated earnings on uncompleted contracts at December 31, 2015 consisted primarily of unearned billings related to fixed-price projects.