Revenue from Contracts with Customers (Tables)

3 Months Ended

Mar. 31, 2023

Revenue from Contract with Customer [Abstract]

Schedule of Components of Contract Asset and Liability Balances

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

(in thousands)	March 31, 2023		December 31, 2022		Change
Contract assets
Costs and estimated earnings in excess of billings on uncompleted contracts	$	37,479	$	33,573	$	3,906
Retainage receivable	26,711		27,880		(1,169)
Total contract assets	$	64,190	$	61,453	$	2,737

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, 2023		December 31, 2022		Change
Contract liabilities
Billings in excess of costs and estimated earnings on uncompleted contracts	$	44,689	$	43,806	$	883
Provisions for losses	186		201		(15)
Total contract liabilities	$	44,875	$	44,007	$	868

Schedule of Contracts In Progress

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

(in thousands)	March 31, 2023		December 31, 2022
Revenue earned on uncompleted contracts	$	687,730	$	678,014
Less: Billings to date	(694,940)		(688,247)
Net (overbilling) underbilling	$	(7,210)	$	(10,233)
(in thousands)	March 31, 2023		December 31, 2022
Costs in excess of billings and estimated earnings on uncompleted contracts	$	37,479	$	33,573
Billings in excess of costs and estimated earnings on uncompleted contracts	(44,689)		(43,806)
Net (overbilling) underbilling	$	(7,210)	$	(10,233)