Note 7 - Receivables, Net

12 Months Ended

Dec. 31, 2021

Notes to Financial Statements

Financing Receivables [Text Block]

7. Receivables, net

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):

December 31,		2021		2020
Contracts completed and in progress:
Billed	$	236,053	$	220,621
Unbilled		126,371		120,144
Total contracts completed and in progress		362,424		340,765
Material sales		43,746		47,067
Other		59,496		51,382
Total gross receivables		465,666		439,214
Less: allowance for credit losses		1,078		1,656
Total net receivables	$	464,588	$	437,558

Included in other receivables at  December 31, 2021 and 2020 were items such as estimated recovery from back charge claims, notes receivable, fuel tax refunds and income tax refunds. Other receivables at December 31, 2021 also included $20.4 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 6.25% per annum. No receivable individually exceeded 10% of total net receivables at any of these dates.

GRANITE CONSTRUCTION INCORPORATED

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - CONTINUED