Contract Assets

12 Months Ended

Dec. 31, 2018

Contract With Customer Asset And Liability [Abstract]

Contract assets

Note 3 – Contract Assets

As of December 31,2018 and 2017, the Company had $140.1 million and $146.5 million, respectively, in contract receivables from contracts with customers. The contract receivables primarily relate to the Company’s right to consideration for work completed but not billed at the reporting date. The contract receivables are transferred to accounts receivable when the rights become unconditional.

Significant changes in the contract asset balance during the period are as follows:

	December 31,
(in thousands)		2018		2017
Beginning balance as of December 31, 2017	$	146,496	$	156,206
Revenue recognized		2,387,333		2,291,046
Amounts collected or invoiced		(2,393,747)		(2,300,756)
Ending balance as of December 31, 2018	$	140,082	$	146,496