Contracts in Progress

12 Months Ended

Dec. 31, 2020

Contractors [Abstract]

Contracts in Progress

5.Contracts in Progress

Contracts in progress are as follows at December 31, 2020 and December 31, 2019:

	December 31,		December 31,
	2020		2019
Costs incurred on uncompleted contracts	$	1,151,987	$	884,244
Estimated earnings		202,369		144,160
		1,354,356		1,028,404
Less: Billings to date		(1,355,220)		(1,035,796)
	$	(864)	$	(7,392)
Included in the accompanying Consolidated Balance Sheets under the following captions:
Costs and estimated earnings in excess of billings on uncompleted contracts	$	32,271	$	41,389
Billings in excess of costs and estimated earnings on uncompleted contracts		(33,135)		(48,781)
	$	(864)	$	(7,392)

Included in cost and estimated earnings in excess of billings on uncompleted projects is approximately $3.1 million and $0.1 million at December 31, 2020 and 2019, respectively, related to claims and unapproved change orders. See Note 2 - Summary of Significant Accounting Policies for discussion of the accounting for these claims.

Remaining performance obligations represent the transaction price of firm orders or other written contractual commitments from customers for which work has not been performed or is partially completed and excludes unexercised contract options and potential orders. As of December 31, 2020, the aggregate amount of the remaining performance obligations was approximately $439.5 million. Of this amount, the current expectation of the Company is that it will recognize $401.9 million, or 91%, in the next 12 months and the remaining balance thereafter.