Primoris Services Corp | 2013 | FY | 3


Note 6—Costs and Estimated Earnings on Uncompleted Contracts

 

Costs and estimated earnings on uncompleted contracts consist of the following at December 31:

 

 

 

2013

 

2012

 

Costs incurred on uncompleted contracts

 

$

4,741,249

 

$

3,883,732

 

Gross profit recognized

 

582,430

 

448,928

 

 

 

5,323,679

 

4,332,660

 

Less: billings to date

 

(5,439,898

)

(4,449,851

)

 

 

$

(116,219

)

$

(117,191

)

 

This amount is included in the accompanying consolidated balance sheets at December 31 under the following captions:

 

 

 

2013

 

2012

 

Costs and estimated earnings in excess of billings

 

$

57,146

 

$

41,701

 

Billings in excess of cost and estimated earnings

 

(173,365

)

(158,892

)

 

 

$

(116,219

)

$

(117,191

)

 


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