Annual report pursuant to Section 13 and 15(d)

Contracts in Progress

v3.24.0.1
Contracts in Progress
 12 Months Ended
Dec. 31, 2023
Revenue from Contract with Customer [Abstract]  
Contracts in Progress Contracts in Progress
Costs and billings on uncompleted construction-type contracts consist of the following (in millions):
December 31, 2023 December 31, 2022
Costs incurred on contracts (from inception to completion) $ 324.5  $ 249.6 
Estimated earnings 208.7  163.1 
Contracts in progress 533.2  412.7 
Less: billings to date (511.3) (371.8)
$ 21.9  $ 40.9 
The carrying amounts related to uncompleted construction-type contracts are included in the accompanying consolidated balance sheets under the following captions (in millions):
December 31, 2023 December 31, 2022
Costs and estimated earnings in excess of billings on uncompleted contracts – current $ 48.7  $ 50.0 
Costs and estimated earnings in excess of billings on uncompleted contracts – non-current (1)
18.2  17.3 
Billings in excess of costs and estimated earnings on uncompleted contracts – current (2)
(41.1) (25.5)
Billings in excess of costs and estimated earnings on uncompleted contracts – non-current (3)
(3.9) (0.9)
$ 21.9  $ 40.9 
(1)Included in other assets within the consolidated balance sheets.
(2)Included in deferred contract revenue – current within the consolidated balance sheets.
(3)Included in other liabilities within the consolidated balance sheets.
For the year ended December 31, 2023, the Company has recognized revenue of $17.3 million related to the contract liabilities balance as of December 31, 2022.