Construction Contracts (Tables)

9 Months Ended

Sep. 30, 2019

Contractors [Abstract]

Summary of balances and changes of construction contracts

The following table summarizes the changes to the balances in the Company’s construction contract costs and estimated earnings in excess of billings account and the billings in excess of construction contract costs and estimated earnings account for the nine months ended September 30, 2019 and 2018 (in thousands):

	Nine Months Ended  September 30, 2019						Nine Months Ended  September 30, 2018
	Construction contract costs and estimated earnings in excess of billings			Billings in excess of construction contract costs and estimated earnings			Construction contract costs and estimated earnings in excess of billings			Billings in excess of construction contract costs and estimated earnings
Beginning balance	$	1,358		$	3,037		$	245		$	3,591
Revenue recognized that was included in the balance at the beginning of the period	—			(3,037		)	—			(3,591		)
Increases due to new billings, excluding amounts recognized as revenue during the period	—			4,256			—			2,400
Transferred to receivables	(2,015		)	—			(245		)	—
Construction contract costs and estimated earnings not billed during the period	624			—			576			—
Changes due to cumulative catch-up adjustment arising from changes in the estimate of the stage of completion	657			(923		)	151			(633		)
Ending balance	$	624		$	3,333		$	727		$	1,767

The Company’s balances and changes in construction contract price allocated to unsatisfied performance obligations (backlog) as of September 30, 2019 and 2018 were as follows (in thousands):

	Three Months Ended September 30,						Nine Months Ended September 30,
	2019			2018			2019			2018
Beginning backlog	$	178,632		$	37,921		$	165,863		$	49,167
New contracts/change orders	22,054			7,138			73,250			39,514
Work performed	(27,594		)	(19,879		)	(66,021		)	(63,501		)
Ending backlog	$	173,092		$	25,180		$	173,092		$	25,180

Net position of uncompleted construction contracts

The Company’s net position on uncompleted construction contracts comprised the following as of September 30, 2019 and December 31, 2018 (in thousands):

	September 30, 2019			December 31, 2018
Costs incurred on uncompleted construction contracts	$	656,874		$	594,006
Estimated earnings	23,527			20,375
Billings	(683,110		)	(616,060		)
Net position	$	(2,709	)	$	(1,679	)
Construction contract costs and estimated earnings in excess of billings	$	624		$	1,358
Billings in excess of construction contract costs and estimated earnings	(3,333		)	(3,037		)
Net position	$	(2,709	)	$	(1,679	)