Concentration of Risk and Enterprise-Wide Disclosures

9 Months Ended

Sep. 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 September 30, 2021 and December 31, 2020, respectively:

	September 30, 2021				December 31, 2020
Federal Government	$	3,028	2	%	$	4,826	4	%
State Governments		418	1	%		—	-	%
Local Governments		13,927	11	%		17,823	13	%
Private Companies		106,110	86	%		110,616	83	%
Gross receivables		123,483	100	%		133,265	100	%
Allowance for credit losses		(323)				(411)
Net receivables	$	123,160			$	132,854

At September 30, 2021, no single customer accounted for more than 10.0% 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 nine months ended September 30, 2021 and 2020, respectively:

	Three months ended September 30,								Nine months ended September 30,
	2021		%		2020		%		2021		%		2020		%
Federal Government	$	14,716	11	%	$	16,499	9	%	$	39,825	9	%	$	32,720	6	%
State Governments		400	-	%		6,322	3	%		814	-	%		27,646	5	%
Local Government		22,765	16	%		54,316	29	%		94,857	22	%		158,176	29	%
Private Companies		102,026	73	%		112,296	59	%		303,595	69	%		321,224	60	%
Total contract revenues	$	139,907	100	%	$	189,433	100	%	$	439,091	100	%	$	539,766	100	%

In the three months ended September 30, 2021, no single customer exceeded 10.0% of total contract revenues. In the three months ended September 30, 2020, one customer in the Local Governments category accounted for 13.8% of total contract revenues. In the nine months ended September 30, 2021, no single customer exceeded 10.0% of total contract revenues. In the nine months ended September 30, 2020, one customer in the Local Governments category accounted for 11.2% 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 0.0% and 0.9% of total revenues for the three months ended September 30, 2021 and 2020, respectively, and 0.6% and 1.8% for the nine months ended September 30, 2021 and 2020, respectively, and were primarily located in the Caribbean Basin and Mexico.