Contracts in Progress
|12 Months Ended|
Dec. 31, 2016
|Property, Plant and Equipment [Abstract]|
|Contracts In Progress [Text Block]||
Note 6 Contracts in Progress
Accounts payable includes retainage due to subcontractors totaling $8.9 million and $6.0 million as of December 31, 2016 and 2015, respectively.
The Company has asserted claims and may have unapproved change orders on certain construction projects. These occur typically as a result of scope changes and project delays. Management evaluates these items and estimates the recoverable amounts if this occurs. If significant, these recoverability estimates are evaluated to determine the net realizable value. If additional amounts are recovered, additional contract revenue would be recognized. The current estimated net realizable value on such items as recorded in costs and estimated earnings in excess of billings on uncompleted contracts in the consolidated balance sheets is listed below at December 31:
The Company anticipates that the majority of such amounts will be earned as revenue within one year.