Contract Assets and Liabilities (Tables)

9 Months Ended

Sep. 30, 2018

Contract With Customer Asset And Liability [Abstract]

Component of and Changes in Contract Asset and Liability Balances

The components of the contract asset balances as of the respective dates were as follows (in thousands):

	September 30, 2018		January 1, 2018
Costs in excess of billings and estimated earnings	$	108,105	$	69,755
Contract retention		105,884		91,135
Total contract assets	$	213,989	$	160,890

The following table summarizes changes in the contract asset balance for the period presented (in thousands):

Balance at January 1, 2018	$	160,890
Change in the measure of progress on projects, net		921,111
Acquired contract assets		45,353
Revisions in estimates, net		(37,793	)
Billings		(826,251	)
Receipts related to contract retention		(49,321	)
Balance at September 30, 2018	$	213,989

The components of the contract liability balances as of the respective dates were as follows (in thousands):

	September 30, 2018		January 1, 2018
Billings in excess of costs and estimated earnings	$	117,352	$	82,750
Provisions for losses		407		924
Total contract liabilities	$	117,759	$	83,674

The following table summarizes changes in the contract liability balance for the period presented (in thousands):

Balance at January 1, 2018	$	83,674
Change in the measure of progress on projects, net		(1,163,929	)
Acquired contract liabilities		7,974
Revisions in estimates, net		9,675
Billings		1,180,946
Change in provision for loss, net		(581	)
Balance at September 30, 2018	$	117,759