10.COSTS AND ESTIMATED EARNINGS ON UNCOMPLETED CONTRACTS
Costs and estimated earnings on uncompleted contracts consist of the following:
|
As of |
As of |
|||||
|
December 31, 2013 |
December 31, 2012 |
|||||
|
(in thousands) |
||||||
|
Costs incurred on uncompleted contracts |
$ |
94,145 |
$ |
55,349 | ||
|
Estimated earnings |
32,547 | 20,883 | ||||
|
Billings to date |
(108,070) | (53,708) | ||||
|
$ |
18,622 |
$ |
22,524 | |||
These amounts are included in the accompanying Consolidated Balance Sheets under the following captions:
|
As of |
As of |
|||||
|
December 31, 2013 |
December 31, 2012 |
|||||
|
(in thousands) |
||||||
|
Costs and estimated earnings in excess of |
||||||
|
billings on uncompleted contracts |
$ |
27,864 |
$ |
23,644 | ||
|
Other current liabilities (Billings in excess of costs and |
||||||
|
estimated earnings on uncompleted contracts) |
(9,242) | (1,120) | ||||
|
$ |
18,622 |
$ |
22,524 | |||
At December 31, 2013, eight significant customers comprised 89.6% of the costs and estimated earnings in excess of billings on uncompleted contracts, net of billings in excess of costs and estimated earnings, while at December 31, 2012, five significant customers comprised 86.5% of the costs and estimated earnings in excess of billings on uncompleted contracts, net of billings in excess of costs and estimated earnings.