Contract Assets and Liabilities (Tables)

3 Months Ended

Mar. 31, 2020

Revenue from Contract with Customer [Abstract]

Components of Contract Asset and Liability Balances

Contract liabilities include billings in excess of contract costs and provisions for losses. The components of the contract liability balances as of the respective dates were as follows:

(in thousands)	March 31, 2020		December 31, 2019		Change
Contract liabilities
Billings in excess of costs and estimated earnings	$	47,451	$	40,662	$	6,789
Provisions for losses	957		1,708		(751		)
Total contract liabilities	$	48,408	$	42,370	$	6,038

Contract assets include amounts due under retainage provisions and costs and estimated earnings in excess of billings. The components of the contract asset balances as of the respective dates were as follows:

(in thousands)	March 31, 2020		December 31, 2019		Change
Contract assets
Costs in excess of billings and estimated earnings	$	38,407	$	44,315	$	(5,908	)
Retainage receivable	31,263		32,873		(1,610		)
Total contract assets	$	69,670	$	77,188	$	(7,518	)

Schedule of Contracts In Progress

The net (overbilling) underbilling position for contracts in process consist of the following:

(in thousands)	March 31, 2020			December 31, 2019
Revenue earned on uncompleted contracts	$	743,559		$	726,215
Less: Billings to date	(752,603		)	(722,562		)
Net (overbilling) underbilling	$	(9,044	)	$	3,653
(in thousands)	March 31, 2020			December 31, 2019
Costs in excess of billings and estimated earnings	$	38,407		$	44,315
Billings in excess of costs and estimated earnings	(47,451		)	(40,662		)
Net (overbilling) underbilling	$	(9,044	)	$	3,653