Costs and Estimated Earnings on Uncompleted Contracts

9 Months Ended

Sep. 30, 2020

Costs and Estimated Earnings on Uncompleted Contracts [Abstract]

Costs and Estimated Earnings on Uncompleted Contracts

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4.COSTS AND ESTIMATED EARNINGS ON UNCOMPLETED CONTRACTS

The Company’s costs and estimated earnings on uncompleted contracts are comprised of the following:

	As of		As of
	September 30, 2020		December 31, 2019
	(in thousands)
Costs incurred on uncompleted contracts	$	51,419	$	52,339
Estimated earnings		20,134		19,954
Billings to date		(45,484)		(47,401)
	$	26,069	$	24,892

These amounts are included in the Consolidated Balance Sheets under the following captions:

	As of		As of
	September 30, 2020		December 31, 2019
	(in thousands)
Costs and estimated earnings in excess of billings on uncompleted contracts	$	27,109	$	26,313
Billings in excess of costs and estimated earnings on
uncompleted contracts (included in Other current liabilities)		(1,040)		(1,421)
	$	26,069	$	24,892

At September 30, 2020 and December 31, 2019, eight customers comprised 98.4% and 94.4% of the costs and estimated earnings in excess of billings on uncompleted contracts, net of billings in excess of costs and estimated earnings, respectively.