Contracts and Accounts Receivable

6 Months Ended

Jun. 30, 2017

Receivables [Abstract]

Contracts and Accounts Receivable

Contracts and Accounts Receivable

Contracts and accounts receivable consist of the following:

	June 30,			December 31,
	2017			2016
	(Dollars in thousands)
Contracts receivable:
Costs incurred on fee building projects	$	99,825		$	178,103
Estimated earnings	2,973			8,404
	102,798			186,507
Less: amounts collected during the period	(89,321		)	(162,203		)
Contracts receivable	$	13,477		$	24,304
Contracts receivable:
Billed	$	—		$	—
Unbilled	13,477			24,304
	13,477			24,304
Accounts receivable:
Escrow receivables	4,721			3,385
Other receivables	123			144
Contracts and accounts receivable	$	18,321		$	27,833

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 June 30, 2017 and December 31, 2016 are expected to be billed and collected within 30 days. Accounts payable at June 30, 2017 and December 31, 2016 includes $12.1 million and $22.8 million, respectively, related to costs incurred under the Company’s fee building contracts.