Gulf Island Fabrication, Inc. Annual report pursuant to Section 13 and 15(d)

COSTS AND ESTIMATED EARNINGS ON UNCOMPLETED CONTRACTS

12 Months Ended

Dec. 31, 2014

4. COSTS AND ESTIMATED EARNINGS ON UNCOMPLETED CONTRACTS

Information with respect to uncompleted contracts as of December 31 is as follows (in thousands):


	2014		2013
Costs incurred on uncompleted contracts	$	742,608	$	991,123
Estimated profit earned to date		53,551		40,045

		796,159		1,031,168
Less billings to date		787,936		1,041,447

	$	8,223	$	(10,279	)

The above amounts are included in the accompanying consolidated balance sheets at December 31 under the following captions (in thousands):


	2014			2013
Costs and estimated earnings in excess of billings on uncompleted contracts	$	26,989		$	24,727
Billings in excess of costs and estimated earnings on uncompleted contracts		(18,766	)		(35,006	)

	$	8,223		$	(10,279	)