Note 3 - Contracts and Accounts Receivable

12 Months Ended

Dec. 31, 2020

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,
	2020			2019
	(Dollars in thousands)
Contracts receivable:
Costs incurred on fee building projects	$	79,583		$	93,281
Estimated earnings		1,420			2,052
		81,003			95,333
Less: amounts collected during the period		(77,861	)		(84,979	)
Contracts receivable	$	3,142		$	10,354
Contracts receivable:
Billed	$	—		$	—
Unbilled		3,142			10,354
		3,142			10,354
Accounts receivable:
Escrow receivables		1,782			5,392
Other receivables		—			236
Contracts and accounts receivable	$	4,924		$	15,982

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, 2020 and 2019 are expected to be billed and collected within 30 days. Accounts payable at December 31, 2020 and 2019 includes $2.6 million and $9.6 million, respectively, related to costs incurred under the Company’s fee building contracts.