v3.22.4
Revenue Recognition
 12 Months Ended
Dec. 31, 2022
Revenue from External Customer [Line Items]  
Revenue Recognition Revenue RecognitionWe derive our revenue predominantly by selling construction materials, products and providing paving and related services. Construction materials consist of aggregates and cement. Products consist of related downstream products, including ready-mix concrete, asphalt paving mix and concrete products. Paving and related service revenue is generated primarily from the asphalt paving services that we provide, and is recognized based on the proportion of costs incurred to date relative to the total estimated costs at completion. The majority of our construction service contracts, and therefore revenue, are opened and completed within one year, with the most activity during the spring, summer and fall.
Revenue by product for the years ended December 31, 2022, January 1, 2022 and January 2, 2021 consisted of the following:
 202220212020
Revenue by product*:   
Aggregates$583,993 $573,157 $498,007 
Cement332,518 282,081 257,629 
Ready-mix concrete687,950 702,062 668,060 
Asphalt270,444 311,046 349,350 
Paving and related services315,065 337,311 381,430 
Other222,552 204,012 177,975 
Total revenue$2,412,522 $2,409,669 $2,332,451 
______________________
 *       Revenue from the liquid asphalt terminals is included in asphalt revenue.

The following table outlines the significant changes in contract assets and contract liability balances from January 1, 2022 to December 31, 2022. Also included in the table is the net change in the estimate as a percentage of aggregate revenue for such contracts:
Costs and estimatedBillings in excess
earnings inof costs and
excess of billingsestimated earnings
Balance—January 1, 2022$7,600 $7,401 
Changes in revenue billed, contract price or cost estimates4,960 (768)
Divestitures(5,926)(844)
Other(124)(50)
Balance—December 31, 2022$6,510 $5,739 

Accounts receivable, net consisted of the following as of December 31, 2022 and January 1, 2022:
 20222021
Trade accounts receivable$215,766 $230,714 
Construction contract receivables37,067 47,054 
Retention receivables11,048 13,094 
Receivables from related parties— 292 
Accounts receivable263,881 291,154 
Less: Allowance for doubtful accounts(7,212)(3,928)
Accounts receivable, net$256,669 $287,226 
 
Retention receivables are amounts earned by the Company but held by customers until paving and related service contracts and projects are near completion or fully completed. Amounts are generally billed and collected within one year.
Summit Materials, LLC  
Revenue from External Customer [Line Items]  
Revenue Recognition Revenue Recognition
We derive our revenue predominantly by selling construction materials, products and providing paving and related services. Construction materials consist of aggregates and cement. Products consist of related downstream products, including ready-mix concrete, asphalt paving mix and concrete products. Paving and related service revenue is generated primarily from the asphalt paving services that we provide, and is recognized based on the proportion of costs incurred to date relative to the total estimated costs at completion. The majority of our construction service contracts, and therefore revenue, are opened and completed within one year, with the most activity during the spring, summer and fall.

Revenue by product for the years ended December 31, 2022, January 1, 2022 and January 2, 2021 consisted of the following:
 202220212020
Revenue by product*:
Aggregates$583,993 $573,157 $498,007 
Cement332,518 282,081 257,629 
Ready-mix concrete687,950 702,062 668,060 
Asphalt270,444 311,046 349,350 
Paving and related services315,065 337,311 381,430 
Other222,552 204,012 177,975 
Total revenue$2,412,522 $2,409,669 $2,332,451 
______________________
*Revenue from the liquid asphalt terminals is included in asphalt revenue.

The following table outlines the significant changes in contract assets and contract liability balances from January 1, 2022 to December 31, 2022. Also included in the table is the net change in the estimate as a percentage of aggregate revenue for such contracts: 
Costs and estimatedBillings in excess
earnings inof costs and
excess of billingsestimated earnings
Balance—January 1, 2022$7,600 $7,401 
Changes in revenue billed, contract price or cost estimates4,960 (768)
Divestitures(5,926)(844)
Other(124)(50)
Balance—December 31, 2022$6,510 $5,739 

Accounts receivable, net consisted of the following as of December 31, 2022 and January 1, 2022:
 20222021
Trade accounts receivable$215,766 $230,714 
Construction contract receivables37,067 47,054 
Retention receivables11,048 13,094 
Receivables from related parties— 292 
Accounts receivable263,881 291,154 
Less: Allowance for doubtful accounts(7,212)(3,928)
Accounts receivable, net$256,669 $287,226 
 
Retention receivables are amounts earned by the Company but held by customers until paving and related service contracts and projects are near completion or fully completed. Amounts are generally billed and collected within one year.