Contracts and Accounts Receivable

12 Months Ended

Dec. 31, 2015

Receivables [Abstract]

Contracts and Accounts Receivable

3.    Contracts and Accounts Receivable

Contracts and accounts receivable consist of the following:

	December 31,
	2015			2014
	(Dollars in thousands)
Contracts receivable:
Costs incurred on fee building projects	$	139,677		$	89,056
Estimated earnings	10,213			4,506
	149,890			93,562
Less: amounts collected during the period	(132,109		)	(80,404		)
Contracts receivable	$	17,781		$	13,158
Contracts receivable:
Billed	$	—		$	2
Unbilled	17,781			13,156
	17,781			13,158
Accounts receivable:
Escrow receivables	6,179			—
Other receivables	—			6
Contracts and accounts receivable	$	23,960		$	13,164

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 billable pursuant to contract terms or administratively not invoiced. All unbilled receivables as of December 31, 2015 and 2014 are expected to be billed and collected within 90 days. Accounts payable at December 31, 2015 and 2014 includes $16.7 million and $11.9 million, respectively, related to costs incurred under the Company’s fee building contracts.