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ACCOUNTS RECEIVABLE (Tables)
 9 Months Ended
Sep. 30, 2017
Receivables [Abstract]  
Contract Receivables

A summary of contract receivables is as follows:

 

 

September 30, 2017

 

 

December 31, 2016

 

 

(in thousands)

 

Contract receivables:

 

 

 

 

 

 

 

Contracts in progress

$

171,587

 

 

$

245,604

 

Completed contracts

 

18,289

 

 

 

40,345

 

Retainages

 

86,153

 

 

 

58,431

 

Unbilled(1)

 

4,303

 

 

 

4,303

 

Less allowances

 

(17,213

)

 

 

(14,299

)

Accounts receivable—trade, net

$

263,119

 

 

$

334,384

 

 

(1)

This amount relates to a project milestone billing for which we are awaiting the customer’s final acceptance certificate. We expect to receive the final acceptance certificate during 2017.
Retainages on Contracts

The following is a summary of retainages on our contracts:

 

 

 

September 30, 2017

 

 

December 31, 2016

 

 

 

(in thousands)

 

Retainages expected to be collected within one year

 

$

86,153

 

 

$

58,431

 

Retainages expected to be collected after one year

 

 

75,615

 

 

 

127,193

 

Total retainages

 

$

161,768

 

 

$

185,624