Concentration of Risk and Enterprise-Wide Disclosures

12 Months Ended

Dec. 31, 2021

Risks and Uncertainties [Abstract]

Concentration of Risk and Enterprise Wide Disclosures

4.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, 2021 and December 31, 2020, respectively:

	December 31, 2021				December 31, 2020
Federal Government	$	6,563	5	%	$	4,826	4	%
State Governments		61	-	%		—	-	%
Local Governments		11,923	9	%		17,823	13	%
Private Companies		111,328	86	%		110,616	83	%
Gross receivables		129,875	100	%		133,265	100	%
Allowance for credit losses		(323)				(411)
Net receivables	$	129,552			$	132,854

At December 31, 2021 and 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 years ended December 31, 2021, 2020 and 2019.

	2021		%		2020		%		2019		%
Federal Government	$	54,480	9	%	$	51,793	7	%	$	46,425	6	%
State Governments		4,790	1	%		27,574	4	%		47,831	7	%
Local Government		120,311	20	%		202,839	29	%		212,958	30	%
Private Companies		421,779	70	%		427,736	60	%		401,176	57	%
Total contract revenues	$	601,360	100	%	$	709,942	100	%	$	708,390	100	%

In the year ended December 31, 2020 one customer in the Local Governments category accounted for 11.4% of total contract revenues. In the years ended December 31, 2021 and 2019, 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 0.5%, 1.8% and 1.6% of total revenues for the years ended December 31, 2021, 2020 and 2019, respectively, and were primarily located in the Caribbean Basin and Mexico.