COST AND ESTIMATED EARNINGS ON UNCOMPLETED CONTRACTS

12 Months Ended

Dec. 31, 2025

Revenue from Contract with Customer [Abstract]

COST AND ESTIMATED EARNINGS ON UNCOMPLETED CONTRACTS

Cost and estimated earnings on uncompleted contracts consist of the following:


	December 31,
	2025		2024
	(Dollars in thousands)
Costs and estimated earnings incurred on uncompleted contracts	$	452,952	$	327,671
Less billings to date	(436,100)		(321,519)
Total	$	16,852	$	6,152

These amounts are included in the consolidated balance sheets under the following captions:


	December 31,
	2025		2024
	(Dollars in thousands)
Costs and estimated earnings in excess of billings on uncompleted contracts	$	30,011	$	29,243
Billings in excess of costs and estimated earnings on uncompleted contracts	(13,159)		(23,091)
Total	$	16,852	$	6,152

The completion costs of the Company’s construction contracts are subject to estimation. Due to uncertainties inherent in the estimation process, it is reasonably possible that estimated contract earnings will be further revised in the near term.

- Definition

The entire disclosure for long-term contracts or programs.

+ References

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+ Details

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