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Concentration of Risk and Enterprise Wide Disclosures
12 Months Ended
Dec. 31, 2019
Risks and Uncertainties [Abstract]  
Concentration of Risk and Enterprise Wide Disclosures

5.Concentration of Risk and Enterprise Wide Disclosures

In both reportable segments accounts receivable include amounts billed to governmental agencies and private customers and do not bear interest. Balances billed to customers but not paid pursuant to retainage provisions generally become payable upon contract completion and acceptance by the owner.

 

The table below presents the concentrations of current receivables (trade and retainage) at December 31, 2019 and December 31, 2018, respectively:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2019

 

December 31, 2018

 

Federal Government

    

$

4,765

    

 3

%  

$

2,319

    

 2

%

State Governments

 

 

5,864

 

 4

%  

 

916

 

 1

%

Local Governments

 

 

41,944

 

26

%  

 

30,187

 

28

%

Private Companies

 

 

106,514

 

67

%  

 

74,953

 

69

%

Total receivables

 

$

159,087

 

100

%  

$

108,375

 

100

%

 

At December 31, 2019 and 2018, no single customer accounted for more than 10.0% of total current receivables.

Additionally, the table below represents concentrations of contract revenue by type of customer for the years ended December 31, 2019, 2018 and 2017.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2019

    

%

    

2018

    

%

    

2017

    

%

 

Federal Government

$

46,425

 

 6

%  

$

42,143

 

 8

%  

$

63,823

 

11

%  

State Governments

 

47,831

 

 7

%  

 

30,470

 

 6

%  

 

42,613

 

 7

%  

Local Government

 

212,958

 

30

%  

 

107,478

 

21

%  

 

91,591

 

16

%  

Private Companies

 

401,176

 

57

%  

 

340,803

 

65

%  

 

380,526

 

66

%  

Total contract revenues

$

708,390

 

100

%  

$

520,894

 

100

%  

$

578,553

 

100

%  

 

In the years ended December 31, 2019, 2018 and 2017, no single customer exceeded 10.0% of total contract revenues.

The Company does not believe that the loss of any one of its customers would have a material adverse effect on the Company or its subsidiaries and affiliates since no single specific customer sustains such a large portion of receivables or contract revenue over time.

The concrete segment primarily purchases concrete from select suppliers. The loss of any one of these suppliers could adversely impact short-term operations.

Contract revenues generated outside the United States totaled 1.6%,  2.3% and 1.6% of total revenues for the years ended December 31, 2019, 2018 and 2017, respectively, and were primarily located in the Caribbean Basin and Mexico.