Concentration of Risk and Enterprise Wide Disclosures

6 Months Ended

Jun. 30, 2020

Risks and Uncertainties [Abstract]

Concentration of Risk and Enterprise Wide Disclosures

4.Concentration of Risk and Enterprise Wide Disclosures

Accounts receivable in both reportable segments 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 June 30, 2020 and December 31, 2019, respectively:

	June 30, 2020				December 31, 2019
Federal Government	$	1,665	1	%	$	4,765	3	%
State Governments		1,055	1	%		5,864	4	%
Local Governments		22,741	17	%		41,944	26	%
Private Companies		111,659	81	%		109,114	67	%
Gross receivables		137,120	100	%		161,687	100	%
Allowance for credit losses		(3,011)				(2,600)
Net receivables	$	134,109			$	159,087

At June 30, 2020 one customer in the Private Companies category accounted for 10.3% of total current receivables. At December 31, 2019, 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 three and six months ended June 30, 2020 and 2019, respectively:

	Three months ended June 30,								Six months ended June 30,
	2020		%		2019		%		2020		%		2019		%
Federal Government	$	10,902	6	%	$	12,301	8	%	$	16,221	4	%	$	22,578	7	%
State Governments		9,092	5	%		10,286	6	%		21,324	6	%		14,341	5	%
Local Government		51,848	28	%		51,599	31	%		103,860	30	%		96,029	31	%
Private Companies		111,871	61	%		91,799	55	%		208,928	60	%		176,142	57	%
Total contract revenues	$	183,713	100	%	$	165,985	100	%	$	350,333	100	%	$	309,090	100	%

In the three months ended June 30, 2020, one customer in the Local Governments category accounted for 10.1% of total contract revenues. In the three months ended June 30, 2019, one customer in the Local Governments category accounted for 14.1%. In the six months ended June 30, 2020, no single customer accounted for more than 10% of total contract revenues. In the six months ended June 30, 2019, one customer in the Local Governments category accounted for 11.4% 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 2.1% and 1.4% of total revenues for the three months ended June 30, 2020 and 2019, respectively, and 2.3% and 0.9% for the six months ended June 30, 2020 and 2019, respectively, and were primarily located in the Caribbean Basin and Mexico.