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Construction Contracts
 12 Months Ended
Dec. 31, 2017
Contractors [Abstract]  
Construction Contracts
Construction Contracts
 
Construction contract costs and estimated earnings in excess of billings represent reimbursable costs and amounts earned under contracts in progress as of the balance sheet date. Such amounts become billable according to contract terms, which usually consider the passage of time, achievement of certain milestones, or completion of the project. Billings in excess of construction contract costs and estimated earnings represent billings or collections on contracts made in advance of revenue recognized.
 
The Company defers precontract costs when such costs are directly associated with specific anticipated contracts and their recovery is probable. Precontract costs of $0.6 million and $1.5 million were deferred as of December 31, 2017 and 2016, respectively.
 
Construction receivables and payables include retentions—amounts that are generally withheld until the completion of the contract or the satisfaction of certain restrictive conditions such as fulfillment guarantees. As of December 31, 2017 and 2016, construction receivables included retentions of $9.9 million and $11.5 million, respectively. The Company expects to collect substantially all construction receivables as of December 31, 2017 during the year ending December 31, 2018. As of December 31, 2017 and 2016, construction payables included retentions of $17.4 million and $14.6 million, respectively. The Company expects to pay substantially all construction payables as of December 31, 2017 during the year ending December 31, 2018.

The Company’s net position on uncompleted construction contracts comprised the following as of December 31, 2017 and 2016 (in thousands):
 
 
December 31, 
 
2017
 
2016
Costs incurred on uncompleted construction contracts
$
520,368

 
$
333,744

Estimated earnings
18,070

 
10,936

Billings
(541,784
)
 
(354,737
)
Net position
$
(3,346
)
 
$
(10,057
)
 
 
December 31,
 
2017
 
2016
Construction contract costs and estimated earnings in excess of billings
$
245

 
$
110

Billings in excess of construction contract costs and estimated earnings
(3,591
)
 
(10,167
)
Net position
$
(3,346
)
 
$
(10,057
)

 
The Company expects to complete all uncompleted contracts as of December 31, 2017 during the years ending December 31, 2018 and 2019.