Costs and Estimated Earnings on Uncompleted Contracts

12 Months Ended

Dec. 31, 2020

Costs and Estimated Earnings on Uncompleted Contracts [Abstract]

Costs and Estimated Earnings on Uncompleted Contracts

5.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
	December 31, 2020		December 31, 2019
	(in thousands)
Costs incurred on uncompleted contracts	$	54,949	$	52,339
Estimated earnings		21,778		19,954
Billings to date		(43,725)		(47,401)
	$	33,002	$	24,892

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

	As of		As of
	December 31, 2020		December 31, 2019
	(in thousands)
Costs and estimated earnings in excess of billings on uncompleted contracts	$	34,796	$	26,313
Billings in excess of costs and estimated earnings on
uncompleted contracts (included in Other current liabilities)		(1,794)		(1,421)
	$	33,002	$	24,892

At December 31, 2020 and 2019, eight customers comprised 99.4% and 94.4%, respectively, of the costs and estimated earnings in excess of billings on uncompleted contracts, net of billings in excess of costs and estimated earnings, respectively.