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Contracts in Progress
 12 Months Ended
Dec. 31, 2015
Contractors [Abstract]  
Contracts in Progress
Contracts in Progress

Contracts in progress are as follows at December 31, 2015 and December 31, 2014:
 
December 31,
2015
 
December 31,
2014
Costs incurred on uncompleted contracts
$
782,934

 
$
554,109

Estimated earnings
132,694

 
97,687

 
915,628

 
651,796

Less: Billings to date
(884,504
)
 
(623,919
)
 
$
31,124

 
$
27,877

Included in the accompanying consolidated balance sheets under the following captions:
 

 
 

Costs and estimated earnings in excess of billings on uncompleted contracts
59,608

 
$
44,581

Billings in excess of costs and estimated earnings on uncompleted contracts
(28,484
)
 
(16,704
)
 
$
31,124

 
$
27,877



Costs and estimated earnings in excess of billings on completed contracts, net of billings, totaled $0.6 million as of December 31, 2015.

Contract costs include all direct costs, such as materials and labor, and those indirect costs related to contract performance such as payroll taxes and insurance. Changes in job performance, job conditions and estimated profitability may result in revisions to costs and income and are recognized in the period in which the revisions are determined. Provisions for estimated losses on uncompleted contracts are made in the period in which such losses are determined, without regard to the percentage of completion. Pending claims are recognized as an increase in contract revenue only when the collection is deemed probable and if the amount can be reasonably estimated.