Accounting Standards Accounting Standards (Tables)

12 Months Ended

Dec. 31, 2019

Accounting Changes and Error Corrections [Abstract]

Reconciliation of cash, cash equivalents and restricted cash

The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the Company’s consolidated balance sheets that sum to the total of the same amounts shown in the consolidated statements of cash flows:

(in thousands)	December 31, 2019		December 31, 2018
Cash and cash equivalents	$	8,344	$	1,619
Restricted cash	113		113
Total cash, cash equivalents and restricted cash	8,457		1,732

Schedule of new accounting pronouncements

Effects of Adoption of ASC 606 and ASC 842 on Consolidated Financial Statements

The effect of the changes made to the Company's consolidated January 1, 2019 balance sheet for the adoption of ASC Topic 606 and ASC Topic 842 were as follows:

CONSOLIDATED BALANCE SHEET
(in thousands)	Balance as of December 31, 2018 (a)		Adjustments due to ASC Topic 606		Adjustments due to ASC Topic 842		Balance as of January 1, 2019
Assets
Accounts receivable, net (b)	135,687		(29,867	)	—		105,820
Contract assets	—		63,810		—		63,810
Costs and estimated earnings in excess of billings on uncompleted contracts	32,698		(32,698	)	—		—
Operating lease right-of-use assets (c)	—		—		19,830		19,830
Deferred tax asset	4,409		(233	)	—		4,176
Liabilities
Contract liabilities	—		48,816		—		48,816
Billings in excess of costs and estimated earnings on uncompleted contracts	50,843		(50,843	)	—		—
Accrued expenses and other current liabilities	53,801		2,400		—		56,201
Current portion of long-term debt	3,141		—		62		3,203
Current operating lease liabilities (c)	—		—		3,240		3,240
Long-term debt	23,614		—		65		23,679
Long-term operating lease liabilities (c)	—		—		17,385		17,385
Other long-term liabilities	1,514		—		(794	)	720
Stockholders' Equity
Accumulated deficit	(8,424	)	639		(128	)	(7,913	)

(a) Balances as previously reported on the Company's Annual Report on Form 10-K for the year ended December 31, 2018.

(b) Prior to the adoption of ASC Topic 606, retainage receivable was included within accounts receivable, net.

(c) Prior to the adoption of ASC Topic 842, operating lease right-of-use assets and current and long-term operating lease liabilities were not recorded on the Company's consolidated balance sheets.

The effect of the changes made to the Company's consolidated balance sheets and consolidated statements of operations for the adoption of ASC Topic 606 and ASC Topic 842 for the year ended December 31, 2019, were as follows:

CONSOLIDATED BALANCE SHEET	As of December 31, 2019
(in thousands)	Balance Without Adoption of ASC Topic 606 and ASC Topic 842		Adjustments due to ASC Topic 606		Adjustments due to ASC Topic 842		As Reported
Assets
Accounts receivable, net (a)	137,940		(32,873	)	—		105,067
Contract assets	(81	)	77,269		—		77,188
Costs and estimated earnings in excess of billings on uncompleted contracts	43,033		(43,033	)	—		—
Operating lease right-of-use assets (b)	—		—		21,056		21,056
Deferred tax asset	5,194		(408	)	—		4,786
Liabilities
Current portion of long-term debt	4,365		—		60		4,425
Current operating lease liabilities (b)	—		—		3,750		3,750
Contract liabilities	316		42,054		—		42,370
Accrued expenses and other current liabilities	17,159		2,886		—		20,045
Billings in excess of costs and estimated earnings on uncompleted contracts	45,076		(45,076	)	—		—
Long-term debt	38,802		—		66		38,868
Long-term operating lease liabilities (b)	—		—		18,247		18,247
Other long-term liabilities	1,702		—		(939	)	763
Stockholders' Equity
Accumulated deficit (c)	(10,651	)	1,091		(128	)	(9,688	)

(a) Prior to the adoption of ASC Topic 606, retainage receivable was included within accounts receivable, net.

(b) Prior to the adoption of ASC Topic 842, operating lease right-of-use assets and current and long-term operating lease liabilities were not recorded on the Company's consolidated balance sheets.

CONSOLIDATED STATEMENT OF OPERATIONS	As of December 31, 2019
(in thousands)	Balance Without Adoption of ASC Topic 606 and ASC Topic 842			Adjustments due to ASC Topic 606			Adjustments due to ASC Topic 842		As Reported
Revenue
Construction	$	438,179		$	17		$	—	$	438,196
Service	115,222			(84		)	—		115,138
Total revenue	553,401			(67		)	—		553,334
Cost of revenue
Construction	395,272			(569		)	—		394,703
Service	86,871			(117		)	—		86,754
Total cost of revenue	482,143			(686		)	—		481,457
Gross profit	71,258			619			—		71,877
Operating expenses:
Selling, general and administrative expenses	63,168			—			—		63,168
Amortization of intangibles	642			—			—		642
Total operating expenses	63,810			—			—		63,810
Operating income	7,448			619			—		8,067
Other income (expenses):
Impairment of goodwill	(4,359		)	—			—		(4,359		)
Interest expense, net	(6,285		)	—			—		(6,285		)
Loss on debt extinguishment	(513		)	—			—		(513		)
Gain on change in fair value of warrant liability	588			—			—		588
Gain on embedded derivative	388			—			—		388
Gain on disposition of property and equipment	57			—			—		57
Total other expenses	(10,124		)	—			—		(10,124		)
Loss before income taxes	(2,676		)	619			—		(2,057		)
Income tax benefit	$	(449	)	167			—		(282		)
Net loss	$	(2,227	)	$	452		$	—	$	(1,775	)