Contracts and Accounts Receivable

3 Months Ended

Mar. 31, 2019

Receivables [Abstract]

Contracts and Accounts Receivable

Contracts and Accounts Receivable

Contracts and accounts receivable consist of the following:

	March 31,			December 31,
	2019			2018
	(Dollars in thousands)
Contracts receivable:
Costs incurred on fee building projects	$	19,268		$	159,136
Estimated earnings	394			4,401
	19,662			163,537
Less: amounts collected during the period	(14,308		)	(154,743		)
Contracts receivable	$	5,354		$	8,794
Contracts receivable:
Billed	$	—		$	—
Unbilled	5,354			8,794
	5,354			8,794
Accounts receivable:
Escrow receivables	10,443			8,787
Other receivables	662			684
Contracts and accounts receivable	$	16,459		$	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 March 31, 2019 and December 31, 2018 are expected to be billed and collected within 30 days. Accounts payable at March 31, 2019 and December 31, 2018 includes $4.3 million and $8.5 million, respectively, related to costs incurred under the Company’s fee building contracts.