Accounts Receivable And Contracts In Progress

3 Months Ended

Mar. 31, 2017

Receivables [Abstract]

Accounts receivable and contracts in progress

3. Accounts receivable and contracts in progress

Accounts receivable at March 31, 2017 and December 31, 2016 are as follows:

	March 31,			December 31,
	2017			2016
Completed contracts	$	21,547		$	18,727
Contracts in progress		57,039			53,137
Retainage		18,021			21,399
		96,607			93,263
Allowance for doubtful accounts		(747	)		(747	)
Total accounts receivable—net	$	95,860		$	92,516
Current portion of accounts receivable—net	$	91,385		$	88,091
Long-term accounts receivable and retainage		4,475			4,425
Total accounts receivable—net	$	95,860		$	92,516

The components of contracts in progress at March 31, 2017 and December 31, 2016 are as follows:

	March 31,			December 31,
	2017			2016
Costs and earnings in excess of billings:
Costs and earnings for contracts in progress	$	553,027		$	587,371
Amounts billed		(499,249	)		(511,548	)
Costs and earnings in excess of billings for contracts in progress		53,778			75,823
Costs and earnings in excess of billings for completed contracts		21,918			19,189
Total contract revenues in excess of billings	$	75,696		$	95,012
Billings in excess of costs and earnings:
Amounts billed	$	(341,000	)	$	(268,754	)
Costs and earnings for contracts in progress		332,107			263,613
Total billings in excess of contract revenues	$	(8,893	)	$	(5,141	)

The Company has $17,860 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 a delay in the sale of these environmental credits, resulting in a longer period to recover our investment.