Contract Assets and Liabilities (Tables)

9 Months Ended

Sep. 30, 2020

Contract with Customer, Contract Asset, Contract Liability, and Receivable [Abstract]

Schedule of Contract Assets and Liabilities

Contract assets include amounts due under retainage provisions, costs and estimated earnings in excess of billings and capitalized contract costs. The amounts as included on the Condensed Consolidated Balance Sheets consisted of the following:

(in thousands)	As of September 30, 2020		As of December 31, 2019
Retainage receivable	$	621,414	$	562,375
Costs and estimated earnings in excess of billings:
Claims	743,057		705,993
Unapproved change orders	372,830		362,264
Other unbilled costs and profits	64,328		55,287
Total costs and estimated earnings in excess of billings	1,180,215		1,123,544
Capitalized contract costs	84,391		80,294
Total contract assets	$	1,886,020	$	1,766,213

Contract liabilities include amounts owed under retainage provisions and billings in excess of costs and estimated earnings. The amount as reported on the Condensed Consolidated Balance Sheets consisted of the following:

(in thousands)	As of September 30, 2020		As of December 31, 2019
Retainage payable	$	296,200	$	252,181
Billings in excess of costs and estimated earnings	911,378		844,389
Total contract liabilities	$	1,207,578	$	1,096,570