Annual report pursuant to Section 13 and 15(d)

Construction Contract and Other Service Revenues

v3.20.4
Construction Contract and Other Service Revenues
 12 Months Ended
Dec. 31, 2020
Revenue from Contract with Customer [Abstract]  
Construction Contract and Other Service Revenues Construction Contract and Other Service Revenues
We disaggregate our construction contract and other service revenues by compensation arrangement and by service type as we believe it best depicts the nature, timing and uncertainty of our revenue. The table below reports construction contract and other service revenues by compensation arrangement (in thousands):
For the Years Ended December 31,
2020 2019 2018
Construction contract revenue:
GMP $ 22,032  $ 67,708  $ 34,050 
Cost-plus fee 34,025  34,386  5,540 
FFP 12,373  10,688  20,327 
Other 2,210  981  942 
$ 70,640  $ 113,763  $ 60,859 

The table below reports construction contract and other service revenues by service type (in thousands):
For the Years Ended December 31,
2020 2019 2018
Construction contract revenue:
Construction $ 66,087  $ 112,170  $ 57,986 
Design 2,343  612  1,931 
Other 2,210  981  942 
$ 70,640  $ 113,763  $ 60,859 

We derived 55% of our construction contract revenue from the USG in 2020, 74% in 2019 and 95% in 2018.

We recognized an insignificant amount of revenue in 2020, 2019 and 2018 from performance obligations satisfied (or partially satisfied) in previous periods.

Accounts receivable related to our construction contract services is included in accounts receivable, net on our consolidated balance sheets. The beginning and ending balances of accounts receivable related to our construction contracts were as follows (in thousands):
For the Years Ended December 31,
2020 2019
Beginning balance $ 12,378  $ 6,701 
Ending balance $ 13,997  $ 12,378 

Contract assets, which we refer to herein as construction contract costs in excess of billings, are included in prepaid expenses and other assets, net reported on our consolidated balance sheets. The beginning and ending balances of our contract assets were as follows (in thousands):
For the Years Ended December 31,
2020 2019
Beginning balance $ 17,223  $ 3,189 
Ending balance $ 10,343  $ 17,223 

Contract liabilities are included in other liabilities reported on our consolidated balance sheets. Changes in contract liabilities were as follows (in thousands):
For the Years Ended December 31,
2020 2019
Beginning balance $ 1,184  $ 568 
Ending balance $ 4,610  $ 1,184 
Portion of beginning balance recognized in revenue during the year $ 757  $ 446 
Revenue allocated to the remaining performance obligations under existing contracts as of December 31, 2020 that will be recognized as revenue in future periods was $81.9 million, all of which we expect to recognize in 2021.We have no deferred incremental costs incurred to obtain or fulfill our construction contracts or other service revenues, and had no significant credit loss expense on construction contracts receivable or unbilled construction revenue in 2020, 2019 and 2018.