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REVENUE RECOGNITION
6 Months Ended
Jun. 29, 2019
Revenue from External Customer [Line Items]  
Revenue Recognition
REVENUE RECOGNITION
 
We derive our revenue predominantly by selling construction materials, products and providing paving and related services. Construction materials consist of aggregates and cement. Products consist of related downstream products, including ready-mix concrete, asphalt paving mix and concrete products. Paving and related service revenue is generated primarily from the asphalt paving services that we provide.
 
Revenue by product for the three and six months ended June 29, 2019 and June 30, 2018 is as follows:
 
Three months ended
 
Six months ended
 
June 29, 2019
 
June 30, 2018
 
June 29, 2019
 
June 30, 2018
Revenue by product*:
 
 
 
 
 
 
 
Aggregates
$
128,650

 
$
103,690

 
$
216,522

 
$
171,140

Cement
77,799

 
76,413

 
110,298

 
109,530

Ready-mix concrete
154,180

 
160,609

 
271,500

 
282,624

Asphalt
93,365

 
88,372

 
116,403

 
106,513

Paving and related services
95,304

 
107,306

 
129,649

 
141,642

Other
51,593

 
64,500

 
89,158

 
103,862

Total revenue
$
600,891

 
$
600,890

 
$
933,530

 
$
915,311

                                                                                         
*Revenue from liquid asphalt terminals is included in asphalt revenue.
The following table outlines the significant changes in contract assets and contract liability balances from December 29, 2018 to June 29, 2019. Also included in the table is the net change in estimate as a percentage of aggregate revenue for such contracts:
 
Costs and estimated earnings in excess of billings
 
Billings in excess of costs and estimated earnings
Balance - December 29, 2018
$
18,602

 
$
11,840

Changes in revenue billed, contract price or cost estimates
26,715

 
(1,138
)
Other
54

 
31

Balance - June 29, 2019
$
45,371

 
$
10,733


 
Accounts receivable, net consisted of the following as of June 29, 2019 and December 29, 2018
 
June 29, 2019
 
December 29, 2018
Trade accounts receivable
$
232,597

 
$
157,601

Construction contract receivables
52,536

 
47,994

Retention receivables
14,573

 
15,010

Receivables from related parties
1,198

 
629

Accounts receivable
300,904

 
221,234

Less: Allowance for doubtful accounts
(6,300
)
 
(6,716
)
Accounts receivable, net
$
294,604

 
$
214,518


 
Retention receivables are amounts earned by the Company but held by customers until paving and related service contracts and projects are near completion or fully completed. Amounts are generally billed and collected within one year.
Summit Materials, LLC  
Revenue from External Customer [Line Items]  
Revenue Recognition REVENUE RECOGNITION
 
We derive our revenue predominantly by selling construction materials, products and providing paving and related services. Construction materials consist of aggregates and cement. Products consist of related downstream products, including ready-mix concrete, asphalt paving mix and concrete products. Paving and related service revenue is generated primarily from the asphalt paving services that we provide.
 
Revenue by product for the three and six months ended June 29, 2019 and June 30, 2018 is as follows:
 
 
Three months ended
 
Six months ended
 
 
June 29,
 
June 30,
 
June 29,
 
June 30,
 
 
2019
 
2018
 
2019
 
2018
Revenue by product*:
 
 
 
 
 
 
 
 
Aggregates
 
$
128,650

 
$
103,690

 
$
216,522

 
$
171,140

Cement
 
77,799

 
76,413

 
110,298

 
109,530

Ready-mix concrete
 
154,180

 
160,609

 
271,500

 
282,624

Asphalt
 
93,365

 
88,372

 
116,403

 
106,513

Paving and related services
 
95,304

 
107,306

 
129,649

 
141,642

Other
 
51,593

 
64,500

 
89,158

 
103,862

Total revenue
 
$
600,891

 
$
600,890

 
$
933,530

 
$
915,311

*Revenue from liquid asphalt terminals is included in asphalt revenue.
 
The following table outlines the significant changes in contract assets and contract liability balances from December 29, 2018 to June 29, 2019. Also included in the table is the net change in estimate as a percentage of aggregate revenue for such contracts:
 
 
Costs and estimated
 
Billings in excess
 
 
earnings in
 
of costs and
 
 
excess of billings
 
estimated earnings
Balance - December 29, 2018
 
$
18,602

 
$
11,840

Changes in revenue billed, contract price or cost estimates
 
26,715

 
(1,138
)
Other
 
54

 
31

Balance - June 29, 2019
 
$
45,371

 
$
10,733



Accounts receivable, net consisted of the following as of June 29, 2019 and December 29, 2018:
 
 
 
June 29,
 
December 29,
 
 
2019
 
2018
Trade accounts receivable
 
$
232,597

 
$
157,601

Construction contract receivables
 
52,536

 
47,994

Retention receivables
 
14,573

 
15,010

Receivables from related parties
 
1,198

 
629

Accounts receivable
 
300,904

 
221,234

Less: Allowance for doubtful accounts
 
(6,300
)
 
(6,716
)
Accounts receivable, net
 
$
294,604

 
$
214,518


 
Retention receivables are amounts earned by the Company but held by customers until paving and related service contracts and projects are near completion or fully completed. Amounts are generally billed and collected within one year.