Receivables, net

9 Months Ended

Sep. 30, 2023

Receivables include billed and unbilled amounts for services provided to clients for which we have an unconditional right to payment as of the end of the applicable period and generally do not bear interest. The following table presents major categories of receivables:


(in thousands)	September 30, 2023		December 31, 2022
Contracts completed and in progress:
Billed	$	353,132	$	220,809
Unbilled	217,218		120,348
Total contracts completed and in progress	570,350		341,157
Materials sales	98,997		52,182
Other	75,259		71,790
Total gross receivables	744,606		465,129
Less: allowance for credit losses	1,515		1,142
Total net receivables	$	743,091	$	463,987

Included in other receivables at September 30, 2023 and December 31, 2022 were items such as estimated recovery from back charge claims, notes receivable, fuel tax refunds and income tax refunds. Other receivables at September 30, 2023 and December 31, 2022 also included $24.9 million of working capital contributions in the form of a loan to a partner in one of our unconsolidated joint ventures that bears interest at prime plus 3.0% per annum. None of our customers had a receivable balance in excess of 10% of our total net receivables as of September 30, 2023 or December 31, 2022.