FUEL TECH, INC. | 2013 | FY | 3


CONSTRUCTION CONTRACTS IN PROGRESS
The status of contracts in progress as of December 31, 2013 and 2012 is as follows:
 
 
 
2013
 
2012
Costs incurred on uncompleted contracts
 
$
34,626

 
$
24,667

Estimated earnings
 
24,096

 
13,047

Earned revenue
 
58,722

 
37,714

Less billings to date
 
(48,029
)
 
(26,744
)
Total
 
$
10,693

 
$
10,970

Classified as follows:
 
 
 
 
Costs and estimated earnings in excess of billings on uncompleted contracts
 
$
11,899

 
$
12,673

Billings in excess of costs and estimated earnings on uncompleted contracts
 
(1,206
)
 
(1,703
)
Total
 
$
10,693

 
$
10,970


Costs and estimated earnings in excess of billings on uncompleted contracts are included in accounts receivable on the consolidated balance sheet, while billings in excess of costs and estimated earnings on uncompleted contracts are included in other accrued liabilities on the consolidated balance sheet.
As of December 31, 2013 we had three construction contracts in progress that were identified as loss contracts and a provision for losses of $68 was recorded in other accrued liabilities on the consolidated balance sheet. As of December 31, 2012, we had two construction contracts in progress that were identified as loss contracts and a provision for losses of $57 was recorded in other accrued liabilities on the consolidated balance sheet.

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