| Costs and Estimated Earnings Compared to Billings on Uncompleted Contracts |
Costs and estimated earnings compared to billings on uncompleted contracts at March 31, 2024 and September 30, 2023 consisted of the following (in thousands):
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March 31, 2024 |
|
September 30, 2023 |
|
(unaudited) |
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|
| Costs on uncompleted contracts |
$ |
1,705,395 |
|
|
$ |
1,831,106 |
|
| Estimated earnings to date on uncompleted contracts |
181,298 |
|
|
194,760 |
|
|
1,886,693 |
|
|
2,025,866 |
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| Billings to date on uncompleted contracts |
(1,954,025) |
|
|
(2,077,475) |
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| Net billings in excess of costs and estimated earnings on uncompleted contracts |
$ |
(67,332) |
|
|
$ |
(51,609) |
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|
Significant changes to balances of costs and estimated earnings in excess of billings (contract asset) and billings in excess of costs and estimated earnings (contract liability) on uncompleted contracts from September 30, 2022 to March 31, 2023 and September 30, 2023 to March 31, 2024 are presented below (in thousands):
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Costs and Estimated Earnings in Excess of Billings on
Uncompleted Contracts |
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Billings in Excess of Costs and Estimated Earnings on
Uncompleted Contracts |
|
Net Billings in Excess of Costs and Estimated Earnings on Uncompleted Contracts |
| September 30, 2022 |
$ |
29,271 |
|
|
$ |
(52,477) |
|
|
$ |
(23,206) |
|
| Changes in revenue billed, contract price or cost estimates |
(145) |
|
|
(9,527) |
|
|
(9,672) |
|
| March 31, 2023 (unaudited) |
$ |
29,126 |
|
|
$ |
(62,004) |
|
|
$ |
(32,878) |
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|
|
|
|
| September 30, 2023 |
$ |
27,296 |
|
|
$ |
(78,905) |
|
|
$ |
(51,609) |
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| Changes in revenue billed, contract price or cost estimates |
$ |
8,825 |
|
|
$ |
(24,547) |
|
|
$ |
(15,722) |
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| March 31, 2024 (unaudited) |
$ |
36,120 |
|
|
$ |
(103,453) |
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|
$ |
(67,332) |
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