Contracts in Progress |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Contracts in Progress | 5.Contracts in Progress Contracts in progress are as follows at June 30, 2025 and December 31, 2024:
Included in contract assets is approximately $5.0 million and $19.8 million at June 30, 2025 and December 31, 2024, respectively, related to claims and unapproved change orders. Remaining performance obligations represent the transaction price of firm orders or other written contractual commitments from customers for which work has not been performed or is partially completed and excludes unexercised contract options and potential orders. As of June 30, 2025, the aggregate amount of the remaining performance obligations was approximately $745.7 million. Of this amount, the current expectation of the Company is that it will recognize $618.3 million, or 83%, in the next 12 months and the remaining balance thereafter. |
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