Annual report pursuant to Section 13 and 15(d)

Uncompleted Contracts

v2.4.0.6
Uncompleted Contracts
 12 Months Ended
Dec. 31, 2011
Uncompleted Contracts [Abstract]  
Revenue Recognition, Deferred Revenue [Policy Text Block]
UNCOMPLETED CONTRACTS
Costs, estimated earnings and related billings on uncompleted contracts at December 31, 2010 and 2011, respectively, are as follows: 
 
 
2010
 
2011
Cost incurred to date
 
$
1,200,365,232

 
$
1,647,328,123

Estimated earnings
 
239,094,360

 
343,455,309

 
 
1,439,459,592

 
1,990,783,432

Less - billings to date
 
(1,431,459,061
)
 
(1,948,515,268
)
 
 
$
8,000,531

 
$
42,268,164

 
Included in the accompanying consolidated balance sheets are the following at December 31, 2010 and 2011: 
 
 
2010
 
2011
Costs and estimated earnings in excess of billings on uncompleted contracts
 
$
35,556,425

 
$
69,251,022

Billings in excess of costs and estimated earnings on uncompleted contracts
 
(27,555,894
)
 
(26,982,858
)
 
 
$
8,000,531

 
$
42,268,164