Note 3 - Contracts and Accounts Receivable

12 Months Ended

Dec. 31, 2019

Notes to Financial Statements

Loans, Notes, Trade and Other Receivables Disclosure [Text Block]

3.    Contracts and Accounts Receivable

Contracts and accounts receivable consist of the following:

	December 31,
	2019			2018
	(Dollars in thousands)
Contracts receivable:
Costs incurred on fee building projects	$	93,281		$	159,136
Estimated earnings		2,052			4,401
		95,333			163,537
Less: amounts collected during the period		(84,979	)		(154,743	)
Contracts receivable		10,354			8,794
Contracts receivable:
Billed	$	—		$	—
Unbilled		10,354			8,794
		10,354			8,794
Accounts receivable:
Escrow receivables		5,392			8,787
Other receivables		236			684
Contracts and accounts receivable	$	15,982		$	18,265

Billed contracts receivable represent amounts billed to customers that have yet to be collected. Unbilled contracts receivable represents the contract revenue recognized but not yet invoiced. All unbilled receivables as of December 31, 2019 and 2018 are expected to be billed and collected within 30 days. Accounts payable at December 31, 2019 and 2018 includes $9.6 million and $8.5 million, respectively, related to costs incurred under the Company’s fee building contracts.