Gulf Island Fabrication, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

CONTRACTS RECEIVABLE AND RETAINAGE

CONTRACTS RECEIVABLE AND RETAINAGE

6 Months Ended

Jun. 30, 2016

Our customers include major and large independent oil and gas companies, marine companies, and their contractors. Of our contracts receivable balance at June 30, 2016, $24.9 million, or 61.4%, is with five customers. The significant projects for these five customers consist of:


•	offshore services projects for two oil and gas customers in our Services segment;


•	the fabrication and repair to a deepwater structure for one of our oil and gas customers in our Fabrication segment;


•	the fabrication of tendon support buoys for one of our oil and gas customers in our Fabrication segment; and


•	the fabrication of an offshore deck platform for one of our oil and gas customers in our Fabrication segment.

At June 30, 2016, we included an allowance for bad debt of $385,498 in our contract receivable balance.