Concentration of Risk and Enterprise-Wide Disclosures

12 Months Ended

Dec. 31, 2022

Risks and Uncertainties [Abstract]

Concentration of Risk and Enterprise Wide Disclosures

4.Concentration of Risk and Enterprise Wide Disclosures

In both reportable segments accounts receivable include amounts billed to governmental agencies and private customers and do not bear interest. Balances billed to customers but not paid pursuant to retainage provisions generally become payable upon contract completion and acceptance by the owner.

The table below presents the concentrations of current receivables (trade and retainage) at December 31, 2022 and December 31, 2021, respectively:

	December 31, 2022				December 31, 2021
Federal Government	$	4,612	3	%	$	6,563	5	%
State Governments		3,111	2	%		61	-	%
Local Governments		16,197	10	%		11,923	9	%
Private Companies		134,317	85	%		111,328	86	%
Gross receivables		158,237	100	%		129,875	100	%
Allowance for credit losses		(606)				(323)
Net receivables	$	157,631			$	129,552

At December 31, 2022 and 2021, no single customer accounted for more than 10.0% of total current receivables.

Additionally, the table below represents concentrations of contract revenue by type of customer for the years ended December 31, 2022, 2021 and 2020.

	2022		%		2021		%		2020		%
Federal Government	$	80,116	11	%	$	54,480	9	%	$	51,793	7	%
State Governments		62,516	8	%		4,790	1	%		27,574	4	%
Local Government		125,015	17	%		120,311	20	%		202,839	29	%
Private Companies		480,675	64	%		421,779	70	%		427,736	60	%
Total contract revenues	$	748,322	100	%	$	601,360	100	%	$	709,942	100	%

In the year ended December 31, 2020 one customer in the Local Governments category accounted for 11.4% of total contract revenues. In the years ended December 31, 2022 and 2021, no single customer exceeded 10.0% of total contract revenues.

The Company does not believe that the loss of any one of its customers would have a material adverse effect on the Company or its subsidiaries and affiliates since no single specific customer sustains such a large portion of receivables or contract revenue over time.

The concrete segment primarily purchases concrete from select suppliers. The loss of any one of these suppliers could adversely impact short-term operations.

Contract revenues generated outside the United States totaled 0.9%, 0.5% and 1.8% of total revenues for the years ended December 31, 2022, 2021 and 2020, respectively, and were primarily located in the Caribbean Basin and Mexico.