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REVENUE
12 Months Ended
Dec. 31, 2019
REVENUE.  
REVENUE

NOTE 10—REVENUE

Disaggregation of Revenue

Disaggregated revenue by type of contract was as follows.

 

 

 

 

 

 

 

 

 

Year Ended December 31,

(in thousands)

 

2019

 

2018

Cost-plus reimbursement contracts

 

$

210,538

 

$

158,278

Fixed-price contracts

 

 

35,249

 

 

30,640

Total

 

$

245,787

 

$

188,918

 

Disaggregated revenue by the geographic area where the work was performed was as follows:

 

 

 

 

 

 

 

 

 

Year Ended December 31,

(in thousands)

 

2019

 

2018

United States

 

$

228,820

 

$

188,918

Canada

 

 

16,967

 

 

 —

Total

 

$

245,787

 

$

188,918

 

Contract Balances

The Company enters into contracts that allow for periodic billings over the contract term that are dependent upon specific advance billing terms, as services are provided, or as milestone billings based on completion of certain phases of work. Projects with performance obligations recognized over time that have costs and estimated earnings recognized to date in excess of cumulative billings are reported in the Company’s consolidated balance sheet as contract assets. Projects with performance obligations recognized over time that have cumulative billings in excess of costs and estimated earnings recognized to date are reported in the Company’s consolidated balance sheet as contract liabilities. At any point in time, each project in process could have either contract assets or contract liabilities.

The following table provides information about contract assets and contract liabilities from contracts with customers.

 

 

 

 

 

 

 

 

 

December 31,

(in thousands)

 

2019

  

2018

Costs incurred on uncompleted contracts

 

$

214,887

 

$

160,368

Earnings recognized on uncompleted contracts

 

 

30,902

 

 

28,581

Total

 

 

245,789

 

 

188,949

Less—billings to date

 

 

(241,263)

 

 

(184,009)

Net

 

$

4,526

 

$

4,940

Contract assets

 

$

7,225

 

$

8,218

Contract liabilities

 

 

(2,699)

 

 

(3,278)

Net

 

$

4,526

 

$

4,940

For the year ended December 31, 2019, the Company recognized revenue of approximately $2.9 million that was included in the corresponding contract liability balance at December 31, 2018.

Remaining Performance Obligations

The following table includes estimated revenue expected to be recognized in the future related to performance obligations that are unsatisfied (or partially unsatisfied) as of December 31, 2019.

 

 

 

 

 

 

 

 

 

 

 

 

 

(in thousands)

 

2020

 

2021

 

Thereafter

 

Total

Remaining performance obligations

 

$

191,282

 

$

116,900

 

$

186,722

 

$

494,904