Accounts Receivable And Contracts In Progress

9 Months Ended

Sep. 30, 2016

Receivables [Abstract]

Accounts receivable and contracts in progress

3. Accounts receivable and contracts in progress

Accounts receivable at September 30, 2016 and December 31, 2015 are as follows:

	September 30,			December 31,
	2016			2015
Completed contracts	$	12,379		$	37,111
Contracts in progress		87,965			70,787
Retainage		20,340			27,203
		120,684			135,101
Allowance for doubtful accounts		(469	)		(754	)
Total accounts receivable—net	$	120,215		$	134,347
Current portion of accounts receivable—net	$	115,753		$	130,777
Long-term accounts receivable and retainage		4,462			3,570
Total accounts receivable—net	$	120,215		$	134,347

The components of contracts in progress at September 30, 2016 and December 31, 2015 are as follows:

	September 30,			December 31,
	2016			2015
Costs and earnings in excess of billings:
Costs and earnings for contracts in progress	$	404,541		$	230,159
Amounts billed		(351,754	)		(176,283	)
Costs and earnings in excess of billings for contracts in progress		52,787			53,876
Costs and earnings in excess of billings for completed contracts		23,056			27,319
Total contract revenues in excess of billings	$	75,843		$	81,195
Billings in excess of costs and earnings:
Amounts billed	$	(270,274	)	$	(207,550	)
Costs and earnings for contracts in progress		260,597			200,489
Total billings in excess of contract revenues	$	(9,677	)	$	(7,061	)

The Company has $17,910 included in costs in excess of billings that are dependent upon the sale of environmental credits earned for a wetland mitigation project. The sale of these credits is subject to market factors that could cause the amount of expected revenue to be higher or lower than currently estimated. If the amount of proceeds received from the sale of the environmental credits is lower than our expectations, we could sustain a loss of part or all of the costs incurred related to this project. Additionally, the timing of realization may be impacted by the timing of a delay in the sale of these environmental credits, resulting in a longer period to recover our investment.