Contract Assets and Contract Liabilities (Tables)
|12 Months Ended|
Dec. 31, 2018
|Revenue from Contract with Customer [Abstract]|
|Contract with Customer, Asset and Liability||
The following table presents the net contract assets and liabilities for the electrical construction operations as of the dates indicated:
The amounts billed but not paid by customers pursuant to retention provisions of the electrical construction contracts were $2.2 million and $3.3 million as of December 31, 2018 and 2017, respectively, and are included in the accompanying consolidated balance sheets in accounts receivable and accrued billings. Retainage is expected to be collected within the next twelve months.
The following table presents the changes in the net contract assets and liabilities for the electrical construction operations for the twelve months ended December 31, 2018:
Tabular disclosure of contract balances and changes in contract balances.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef