Concentration of Risk and Enterprise Wide Disclosures

6 Months Ended

Jun. 30, 2021

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 accounts receivable from customers (trade and retainage) at June 30, 2021 and December 31, 2020, respectively:

	June 30, 2021				December 31, 2020
Federal Government	$	6,392	5	%	$	4,826	4	%
State Governments		215	-	%		—	-	%
Local Governments		15,170	12	%		17,823	13	%
Private Companies		106,605	83	%		110,616	83	%
Gross receivables		128,382	100	%		133,265	100	%
Allowance for credit losses		(323)				(411)
Net receivables	$	128,059			$	132,854

At June 30, 2021 one customer in the Private Companies category accounted for 10.2% of total current receivables. At December 31, 2020, 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, 2021 and 2020, respectively:

	Three months ended June 30,								Six months ended June 30,
	2021		%		2020		%		2021		%		2020		%
Federal Government	$	12,345	8	%	$	10,902	6	%	$	25,109	8	%	$	16,221	4	%
State Governments		246	-	%		9,092	5	%		414	-	%		21,324	6	%
Local Government		38,576	26	%		51,848	28	%		72,092	24	%		103,860	30	%
Private Companies		94,708	65	%		111,871	61	%		201,569	67	%		208,928	60	%
Total contract revenues	$	145,875	99	%	$	183,713	100	%	$	299,184	99	%	$	350,333	100	%

In the three months ended June 30, 2021, no single customer exceeded 10.0% of total contract revenues. 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 six months ended June 30, 2021 and 2020, no single customer accounted for more than 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 0.2% and 2.1% of total revenues for the three months ended June 30, 2021 and 2020, respectively, and 0.9% and 2.3% for the six months ended June 30, 2021 and 2020, respectively, and were primarily located in the Caribbean Basin and Mexico.