Annual report pursuant to Section 13 and 15(d)

CONTRACTS RECEIVABLE AND RETAINAGE

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CONTRACTS RECEIVABLE AND RETAINAGE
 12 Months Ended
Dec. 31, 2016
Contractors [Abstract]  
CONTRACTS RECEIVABLE AND RETAINAGE
CONTRACTS RECEIVABLE AND RETAINAGE
Of our contracts receivable balance at December 31, 2016, $8.6 million, or 42.7%, is for three customers. Amounts due on contracts as of December 31, were as follows (in thousands):
 
2016
 
2015
Completed contracts
 
 
 
Current receivables
$
6,812

 
$
15,904

Long-term receivables due after one year
—

 
—

Contracts in progress:
 
 
 
Current receivables
14,248

 
31,148

Retainage due within one year
113

 
52

Total contracts receivable
21,173

 
47,104

Less allowance for doubtful accounts
1,004

 
44

Net contracts receivable
$
20,169

 
$
47,060


Our allowance for doubtful accounts as of December 31, 2016 primarily relates to a customer in our Fabrication division for the storage of an offshore drilling platform which was fully reserved in 2016. Our allowance for doubtful accounts as of December 31, 2015 related to a customer that had declared bankruptcy and was fully reserved in 2015.