Goldfield 10-Q 7 Nov 17 2017 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2017	Nov. 02, 2017
Document And Entity Information [Abstract] [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q3
Entity Registrant Name	GOLDFIELD CORP
Entity Central Index Key	42,316
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		25,451,354

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Sep. 30, 2017	Dec. 31, 2016
Current assets
Cash and cash equivalents	$ 20,431,327	$ 20,599,648
Accounts receivable and accrued billings	18,406,579	19,094,407
Costs and estimated earnings in excess of billings on uncompleted contracts	7,317,033	7,313,099
Income taxes receivable	1,552,590	533,837
Residential properties under construction	2,716,566	1,552,131
Prepaid expenses	1,296,655	1,037,715
Other current assets	1,158,160	1,298,044
Total current assets	52,878,910	51,428,881
Property, buildings and equipment, at cost, net of accumulated depreciation of $37,480,172 in 2017 and $33,140,214 in 2016	37,203,801	33,245,947
Deferred charges and other assets
Land and land development costs	4,429,394	4,930,331
Cash surrender value of life insurance	550,280	550,672
Restricted cash	102,011	173,041
Goodwill	101,407	101,407
Intangibles, net of accumulated amortization of $247,759 in 2017 and $201,634 in 2016	766,041	812,166
Other assets	466,096	59,712
Total deferred charges and other assets	6,415,229	6,627,329
Total assets	96,497,940	91,302,157
Current liabilities
Accounts payable and accrued liabilities	9,044,016	11,386,119
Billings in excess of costs and estimated earnings on uncompleted contracts	152,302	845,057
Current portion of notes payable, net	6,098,675	6,101,855
Accrued remediation costs	120,770	102,526
Total current liabilities	15,415,763	18,435,557
Deferred income taxes	7,802,301	8,204,324
Accrued remediation costs, less current portion	206,375	112,380
Notes payable, less current portion, net	18,876,921	16,231,373
Other accrued liabilities	919,985	67,961
Total liabilities	43,221,345	43,051,595
Commitments and contingencies (notes 3 and 5)	0	0
Stockholders’ equity
Preferred stock, $1 par value, 5,000,000 shares authorized, none issued
Common stock, $.10 par value, 40,000,000 shares authorized; 27,813,772 shares issued and 25,451,354 shares outstanding	2,781,377	2,781,377
Additional paid-in capital	18,481,683	18,481,683
Retained earnings	33,321,722	28,295,689
Treasury stock, 2,362,418 shares, at cost	(1,308,187)	(1,308,187)
Total stockholders’ equity	53,276,595	48,250,562
Total liabilities and stockholders’ equity	$ 96,497,940	$ 91,302,157

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($)	Sep. 30, 2017	Dec. 31, 2016
Statement of Financial Position [Abstract]
Property, buildings and equipment, accumulated depreciation	$ 37,480,172	$ 33,140,214
Finite-lived intangible assets, accumulated amortization	$ 247,759	$ 201,634
Preferred stock, par value (usd per share)	$ 1	$ 1
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	0	0
Common stock, par value (usd per share)	$ 0.1	$ 0.1
Common stock, shares authorized	40,000,000	40,000,000
Common stock, shares issued	27,813,772	27,813,772
Common stock, shares outstanding	25,451,354	25,451,354
Treasury stock, shares	2,362,418	2,362,418

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Revenue
Electrical construction	$ 23,616,373	$ 29,653,625	$ 81,869,487	$ 95,385,820
Other	890,842	1,000,538	2,471,473	3,283,799
Total revenue	24,507,215	30,654,163	84,340,960	98,669,619
Costs and expenses
Electrical construction	20,299,375	23,161,561	63,718,948	70,096,028
Other	600,597	663,320	1,691,601	2,298,227
Selling, general and administrative	1,625,027	1,532,689	4,959,782	4,607,106
Depreciation and amortization	1,824,875	1,590,233	5,386,364	4,672,078
Loss (gain) on sale of property and equipment	18,594	(19,056)	30,158	(914)
Total costs and expenses	24,368,468	26,928,747	75,786,853	81,672,525
Total operating income	138,747	3,725,416	8,554,107	16,997,094
Other income (expense), net
Interest income	10,320	10,009	23,509	25,369
Interest expense, net of amount capitalized	(202,054)	(146,022)	(474,512)	(457,313)
Other income, net	14,810	12,903	45,277	42,363
Total other expense, net	(176,924)	(123,110)	(405,726)	(389,581)
(Loss) income from continuing operations before income taxes	(38,177)	3,602,306	8,148,381	16,607,513
Income tax provision	15,345	1,298,420	3,018,861	6,089,367
(Loss) income from continuing operations	(53,522)	2,303,886	5,129,520	10,518,146
Loss from discontinued operations, net of income tax benefit of $61,556, $0, $61,556 and $66,077, respectively	(103,487)	0	(103,487)	(108,007)
Net (loss) income	$ (157,009)	$ 2,303,886	$ 5,026,033	$ 10,410,139
Net income (loss) per share of common stock — basic and diluted
Continuing operations (usd per share)	$ 0	$ 0.09	$ 0.20	$ 0.41
Discontinued operations (usd per share)	0	0	0	0
Net income (usd per share)	$ (0.01)	$ 0.09	$ 0.20	$ 0.41
Weighted average shares outstanding - basic and diluted (shares)	25,451,354	25,451,354	25,451,354	25,451,354

Consolidated Statements of Ope5

Consolidated Statements of Operations (Parenthetical) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Income Statement [Abstract]
Loss from discontinued operations, net of income tax benefit of $61,556, $0, $61,556 and $66,077, respectively	$ 61,556	$ 0	$ 61,556	$ 66,077

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Cash flows from operating activities
Net income	$ 5,026,033	$ 10,410,139
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation and amortization	5,386,364	4,672,078
Amortization of debt issuance costs	17,748	17,498
Deferred income taxes	(402,023)	(7,787)
Loss (gain) on sale of property and equipment	30,158	(914)
Other losses (gains)	392	(908)
Changes in operating assets and liabilities
Accounts receivable and accrued billings	687,828	(1,297,006)
Costs and estimated earnings in excess of billings on uncompleted contracts	(3,934)	(1,752,507)
Residential properties under construction	(1,164,435)	(2,622,924)
Income taxes receivable	(1,018,753)	(639,379)
Prepaid expenses and other assets	(525,440)	287,611
Land and land development costs	500,937	(67,796)
Restricted cash	(71,030)	(134,069)
Income taxes payable	0	(483,763)
Accounts payable and accrued liabilities	(1,413,997)	1,658,621
Billings in excess of costs and estimated earnings on uncompleted contracts	(692,755)	38,126
Accrued remediation costs	112,239	(7,706)
Net cash provided by operating activities	6,611,392	10,337,452
Cash flows from investing activities
Proceeds from disposal of property and equipment	128,423	91,571
Proceeds from notes receivable	0	56,048
Purchases of property, buildings and equipment	(9,532,756)	(2,913,230)
Net cash used in investing activities	(9,404,333)	(2,765,611)
Cash flows from financing activities
Proceeds from notes payable	22,600,000	3,950,000
Repayments on notes payable	(19,967,255)	(6,076,742)
Debt issuance costs	(8,125)	(3,350)
Net cash provided by (used in) financing activities	2,624,620	(2,130,092)
Net (decrease) increase in cash and cash equivalents	(168,321)	5,441,749
Cash and cash equivalents at beginning of period	20,599,648	11,374,238
Cash and cash equivalents at end of period	20,431,327	16,815,987
Supplemental disclosure of cash flow information
Interest paid, net of amounts capitalized	438,000	419,330
Income taxes paid, net	4,378,081	7,154,219
Supplemental disclosure of non-cash investing
Liability for equipment acquired	$ 89,621	$ 54,084

Organization and Summary of Sig

Organization and Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Summary of Significant Accounting Policies	Organization and Summary of Significant Accounting Policies Overview The Goldfield Corporation (the “Company”) was incorporated in Wyoming in 1906 and subsequently reincorporated in Delaware in 1968. The Company’s principal line of business is the construction of electrical infrastructure for the utility industry and industrial customers. The principal market for the Company’s electrical construction operation is primarily in the Southeast and mid-Atlantic regions of the United States and Texas. Basis of Financial Statement Presentation In the opinion of management, the accompanying unaudited interim consolidated financial statements include all adjustments necessary to present fairly the Company’s financial position, results of operations, and changes in cash flows for the interim periods reported. These adjustments are of a normal recurring nature. All financial statements presented herein are unaudited with the exception of the consolidated balance sheet as of December 31, 2016 , which was derived from the audited consolidated financial statements. The results of operations for the interim periods shown in this report are not necessarily indicative of results to be expected for the year. These statements should be read in conjunction with the consolidated financial statements included in the Company’s annual report on Form 10-K for the year ended December 31, 2016 . Allowance for Doubtful Accounts The allowance for doubtful accounts is the Company’s best estimate of the amount of probable credit losses in the Company’s existing accounts receivable. The Company determines the allowance based on customer specific information and historical write-off experience. The Company reviews its allowance for doubtful accounts quarterly. Account balances are charged off against the allowance after reasonable means of collection have been exhausted and the potential for recovery is considered remote. As of September 30, 2017 and December 31, 2016 , upon its review, management determined it was not necessary to record an allowance for doubtful accounts due to the majority of accounts receivable being generated by electrical utility customers who the Company considers creditworthy based on timely collection history and other considerations. Use of Estimates Management of the Company has made a number of estimates and assumptions relating to the reporting of assets and liabilities and the disclosure of contingent assets and liabilities to prepare these financial statements in conformity with U.S. generally accepted accounting principles (“GAAP”). Actual results could differ from those estimates. Management considers the most significant estimates in preparing these financial statements to be the estimated cost to complete electrical construction contracts in progress, the adequacy of the accrued remediation costs and the realizability of deferred tax assets. Fair Value of Financial Instruments The Company’s financial instruments include cash and cash equivalents, accounts receivable and accrued billings, restricted cash collateral deposited with insurance carriers, cash surrender value of life insurance policies, accounts payable, notes payable, and other current liabilities. Fair value is the price that would be received to sell an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The fair value guidance establishes a valuation hierarchy, which requires maximizing the use of observable inputs when measuring fair value. The three levels of inputs that may be used are: Level 1 - Quoted market prices in active markets for identical assets or liabilities. Level 2 - Observable market based inputs or other observable inputs. Level 3 - Significant unobservable inputs that cannot be corroborated by observable market data. These values are generally determined using valuation models incorporating management’s estimates of market participant assumptions. Fair values of financial instruments are estimated through the use of public market prices, quotes from financial institutions, and other available information. Management considers the carrying amounts reported on the consolidated balance sheets for cash and cash equivalents, accounts receivable and accrued billings, accounts payable and accrued liabilities, to approximate fair value due to the immediate or short-term maturity of these financial instruments. The Company’s carrying value of long-term notes payable are estimated by management to approximate fair value since the interest rates prescribed by Branch Banking and Trust Company (the “Bank”) are variable market interest rates and are adjusted periodically, and as such, are classified as Level 2. Restricted cash is considered by management to approximate fair value due to the nature of the asset held in a secured interest bearing bank account. The carrying value of cash surrender value of life insurance is also considered by management to approximate fair value as the carrying value is based on the current settlement value under the contract, as provided by the carrier and as such, is classified as Level 2. Land and Land Development Costs and Residential Properties Under Construction The costs of a land purchase and any development expenses up to the initial construction phase of any residential property development project are recorded under the asset “land and land development costs.” Once construction commences, both the land development costs and construction costs are recorded under the asset “residential properties under construction.” The assets “land and land development costs” and “residential properties under construction” relating to specific projects are recorded as current assets when the estimated project completion date is less than one year from the date of the consolidated financial statements, or as non-current assets when the estimated project completion date is one year or more from the date of the consolidated financial statements. In accordance with Accounting Standards Codification (“ASC”) Topic 360-10, Accounting for the Impairment or Disposal of Long-lived Assets , land and residential properties under construction are reviewed by the Company for impairment whenever events or changes in circumstances indicate that the carrying value may not be recoverable. If the carrying amount or basis is not expected to be recovered, impairment losses are recorded and the related assets are adjusted to their estimated fair value. The fair value of an asset is the amount at which that asset could be bought or sold in a current transaction between willing parties, that is, other than in a forced or liquidation sale. The Company also complies with ASC Topic 820, Fair Value Measurement , which defines fair value, establishes a framework for measuring fair value, and expands disclosures about fair value measurements. The Company did not record an impairment write-down to either of its land carrying value or residential properties under construction carrying value for either the nine months ended September 30, 2017 or in 2016 . Goodwill and Intangible Assets Intangible assets with finite useful lives recorded in connection with a historical acquisition are amortized over the term of the related contract or useful life, as applicable. Intangible assets held by the Company with finite useful lives include customer relationships and trademarks. The Company reviews the values recorded for intangible assets and goodwill to assess recoverability from future operations annually or whenever events or changes in circumstances indicate that their carrying amounts may not be recoverable. As of December 31, 2016 , the Company assessed the recoverability of its long-lived assets and goodwill, and believed that there were no events or circumstances present that would require a test of recoverability on those assets. As a result, there was no impairment of the carrying amounts of such assets. Segment Reporting The Company operates as a single reportable segment, electrical construction, under ASC Topic 280-10-50 Disclosures about Segments of an Enterprise and Related Information . The Company’s real estate development operation has diminished to a point that it is no longer significant for reporting purposes and, accordingly, results of the ongoing real estate development operations are included in the income statement under the caption “Other.” Certain corporate costs are not allocated to the electrical construction segment. Recent Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) 2014-09, which will replace most existing revenue recognition guidance in U.S. generally accepted accounting principles and is intended to improve and converge the financial reporting requirements for revenue from contracts with customers with International Financial Reporting Standards (“IFRS”) . The core principle of ASU 2014-09 is that an entity should recognize revenue for the transfer of goods or services equal to the amount that it expects to be entitled to receive for those goods or services. ASU 2014-09 also requires additional disclosures about the nature, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments. ASU 2014-09 allows for either retrospective or cumulative effect transition methods of adoption and is effective for periods beginning after December 15, 2016. In August 2015, the FASB issued ASU 2015-14 which provides a one-year deferral of the revenue recognition standard’s effective date. Public business entities are required to apply the revenue recognition standard to annual reporting periods beginning after December 15, 2017, and interim periods within those annual periods. Early application is permitted but not before the original effective date for public business entities (annual reporting periods beginning after December 15, 2016). The option to use either a retrospective or cumulative effect transition method did not change. The Company has performed preliminary assessments and continues to assess the impact on our accounting practices, policies and procedures for recognizing revenue under the new standard. Specifically, under the new standard, electrical construction fixed-price contracts currently accounted for under ASC 605-35 will be recognized over time as services are performed and the underlying obligation to the customer is fulfilled. Generally, this will result in the use of input measures on a cost to cost basis similar to the practices currently in place for contracts accounted for under ASC 605-35. The Company has assessed that under the new guidance the primary impact will be on the timing of when contract modifications and change orders are recognized, mainly due to the application of the contract identification criteria. Currently, contract modifications and change orders are generally included in total contract value when executed by the customer as compared to the new guidance, when legally enforceable. This may result in timing differences on the recognition in revenue and margin when compared to current practices. The Company has also determined there will not be material changes in the pattern of revenue recognition for electrical construction contracts, which are currently accounted for on a time and materials basis. These contracts will be treated as a series of distinct services transferred over time and will generally result in a similar revenue pattern when compared to our current accounting policies. Additionally, for real estate development operations presented under the caption “Other” in the consolidated financial statements, the Company estimates that there will not be changes in the pattern of revenue recognition and will continue to recognize revenue upon the transfer of control of the promised real estate properties, generally at time of closing. The Company is currently completing its evaluation of significant contracts and assessing the potential changes and impact to its consolidated financial statements, as well as the method of adoption. The Company has identified and is in the process of implementing changes to its processes and internal controls to meet the reporting and disclosure requirements of this update and expects to adopt the new revenue recognition guidance, including all applicable subsequent ASUs issued, effective January 1, 2018. In May 2016, the FASB issued ASU 2016-12, which improves guidance on assessing collectability, presentation of sales taxes, non-cash consideration, and completed contracts and contract modifications at transition. The FASB has also issued the following standards which clarify ASU 2014-09 and have the same effective date as the original standard: ASU 2016-20, ASU 2016-10 and ASU 2016-08. These updates are effective concurrently with ASU 2014-09 and are also being evaluated by the Company. In February 2016, the FASB issued ASU 2016-02, to increase transparency and comparability among organizations by recognizing all lease transactions (with terms in excess of 12 months) on the balance sheet as a lease liability and a right-of-use asset (as defined). ASU 2016-02 is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years, with earlier application permitted. Upon adoption, the lessee will apply the new standard retrospectively to all periods presented or retrospectively using a cumulative effect adjustment in the year of adoption. The Company expects this new guidance to cause a material increase to the assets and liabilities on the Company’s consolidated balance sheets. The Company is currently assessing the effect the adoption will have on its consolidated financial statements of income. The impact of this ASU is non-cash in nature, therefore the Company does not expect the adoption of this new guidance to have a material impact on the Company’s cash flows or liquidity. In August 2016, the FASB issued ASU 2016-15, which provides clarification regarding how certain cash receipts and cash payments are presented and classified in the statement of cash flows. This update addresses eight specific cash flow issues with the objective of reducing the existing diversity in practice. In addition, in November 2016, the FASB issued ASU 2016-18, which requires that amounts generally described as restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. Both updates are effective for annual and interim periods beginning after December 15, 2017, with early adoption permitted. The Company is currently assessing the effect that adoption will have on its consolidated financial statements. In October 2016, the FASB issued ASU 2016-16, which eliminates the requirement to defer the recognition of current and deferred income taxes for an intra-entity asset transfer until the asset has been sold to an outside party. Under the new guidance, an entity should recognize the income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs. This update is effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years; early adoption is permitted and is to be applied on a modified retrospective basis through a cumulative-effect adjustment directly to retained earnings at the time of adoption. The Company is currently assessing the impact that adoption will have on its consolidated financial statements. In January 2017, the FASB issued ASU 2017-04, which eliminates Step 2 of the current goodwill impairment test. A goodwill impairment loss will instead be measured at the amount by which a reporting unit’s carrying value exceeds its fair value, not to exceed the recorded amount of goodwill allocated to that reporting unit. The provisions of this ASU are effective for years beginning after December 15, 2019, with early adoption permitted for any impairment test performed on testing dates after January 1, 2017. The Company is currently assessing the impact that adoption will have on its consolidated financial statements however, the Company does not expect this ASU to have a significant impact on its consolidated financial statements or disclosures.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2017
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The following table presents the provision for income tax and the effective tax rates from continuing operations for the three and nine month periods ended September 30 as indicated : Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 Income tax provision $ 15,345 $ 1,298,420 $ 3,018,861 $ 6,089,367 Effective income tax rate 40.2 % 36.0 % 37.0 % 36.7 % The Company’s expected tax rate for the year ending December 31, 2017 , which was calculated based on the estimated annual operating results for the year, is 37.0% . The expected tax rate differs from the federal statutory rate of 34% due to state income taxes and nondeductible expenses offset by the domestic production activities deduction (“DPAD”). The Company’s effective tax rate for the three and nine months ended September 30, 2017 was 40.2% and 37.0% , respectively. The effective tax rate for the three months ended September 30, 2017 differs from the statutory rate of 34% due to state income taxes and nondeductible expenses offset by a reduced DPAD. The cumulative reduction in the DPAD resulted in tax expense despite an operating loss for the quarter. The effective tax rate for the nine months ended September 30, 2017 reflects the annual expected tax rate for 2017. The effective tax rate for the three and nine months ended September 30, 2016 were 36.0% and 36.7% , which differs from the federal statutory rate of 35% due to state income taxes and nondeductible expenses offset by the DPAD. As of September 30, 2017 , in accordance with ASU No 2015-17, our deferred tax assets and liabilities are netted and reported as a non-current deferred tax liability on the balance sheet. Our non-current deferred tax liabilities are primarily comprised of tax depreciation in excess of book depreciation and are offset by our deferred tax assets, largely comprised of accrued vacation, accrued payables, accrued workers’ compensation claims, inventory adjustments, accrued remediation costs and capitalized acquisition costs. The carrying amounts of deferred tax assets are reduced by a valuation allowance, if based on the available evidence, it is more likely than not such assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which the deferred tax assets are expected to be recovered or settled. In the assessment for a valuation allowance, appropriate consideration is given to positive and negative evidence related to the realization of the deferred tax assets. This assessment considers, among other matters, the nature, frequency and severity of current and cumulative losses, forecasts of future profitability, the duration of statutory carryforward periods, experience with loss carryforwards expiring unused, and tax planning alternatives. If the Company determines it will not be able to realize all or part of the deferred tax assets, a valuation allowance would be recorded to reduce deferred tax assets to the amount that is more likely than not to be realized. Based on assumptions with respect to forecasts of future taxable income and tax planning, among others, the Company anticipates being able to generate sufficient taxable income to utilize the deferred tax assets. Therefore, the Company has not recorded a valuation allowance against deferred tax assets. The minimum amount of future taxable income required to be generated to fully realize the deferred tax assets as of September 30, 2017 is approximately $2.8 million . The Company has gross unrecognized tax benefits of $5,000 as of both September 30, 2017 and December 31, 2016 . The Company believes that it is reasonably possible that the liability for unrecognized tax benefits related to certain state income tax matters may be settled within the next twelve months. The federal statute of limitation has expired for tax years prior to 2013 and relevant state statutes vary. The Company is currently not under any income tax audits or examinations and does not expect the assessment of any significant additional tax in excess of amounts provided. The Company accrues interest and penalties related to unrecognized tax benefits as interest expense and other general and administrative expenses, respectively, and not as a component of income taxes.

Commitments and Contingencies R

Commitments and Contingencies Related to Discontinued Operations	9 Months Ended
	Sep. 30, 2017
Discontinued Operations and Disposal Groups [Abstract]
Commitments and Contingencies Related to Discontinued Operations	Commitments and Contingencies Related to Discontinued Operations Discontinued operations represent former mining activities, the last of which ended in 2002. Pursuant to an agreement with the United States Environmental Protection Agency (the “EPA”), the Company performed certain remediation actions at a property sold over fifty years ago. This remediation work was completed by September 30, 2015. The Company has established a contingency provision related to discontinued operations, which was $327,000 and $215,000 , as of September 30, 2017 and December 31, 2016 , respectively. During the nine months ended September 30, 2017 , the Company increased the provision by $165,000 ( $103,000 , net of tax benefit of $62,000 ). Due to changes in the EPA’s financial assurance requirements this increase was necessary notwithstanding the success of the remediation work completed at the property in 2015. During the nine months ended September 30, 2016 , the Company increased the provision by $174,000 ( $108,000 , net of tax benefit of $66,000 ). This increase in 2016 was related to costs associated with some corrective remediation efforts during the period. The remaining balance of the accrued remediation costs as of September 30, 2017 mainly represents estimated future charges for EPA response costs, monitoring of the property, and legal costs. The total costs to be incurred in future periods may vary from this estimate. The amounts recorded in the aforementioned contingency provision are not discounted. The provision will be reviewed periodically based upon facts and circumstances available at the time.

Notes Payable

Notes Payable	9 Months Ended
	Sep. 30, 2017
Debt Disclosure [Abstract]
Notes Payable	Notes Payable The following table presents the balances of notes payable as of the dates indicated: Branch Banking and Trust Company Maturity Date September 30, December 31, 2016 Interest Rates September 30, 2017 December 31, 2016 Working Capital Loan November 28, 2019 $ 3,950,000 $ 3,950,000 3.06 % 2.44 % $22.6 Million Equipment Loan March 9, 2021 21,070,000 — 3.06 % — % $10.0 Million Equipment Loan July 28, 2020 — 7,579,630 — % 2.81 % $17.0 Million Equipment Loan March 6, 2020 — 9,601,000 — % 2.50 % $2.0 Million Equipment Loan March 6, 2020 — 1,256,625 — % 2.50 % Total notes payable 25,020,000 22,387,255 Less unamortized debt issuance costs 44,404 54,027 Total notes payable, net 24,975,596 22,333,228 Less current portion of notes payable, net 6,098,675 6,101,855 Notes payable net, less current portion $ 18,876,921 $ 16,231,373 As of September 30, 2017 , the Company, and the Company’s wholly owned subsidiaries Southeast Power, Pineapple House of Brevard, Inc. (“Pineapple House”), Bayswater Development Corporation (“Bayswater”), Power Corporation of America (“PCA”), Precision Foundations, Inc. (“PFI”) and C and C Power Line, Inc. (“C&C”), collectively (the “Debtors,”) were parties to a Master Loan Agreement, dated June 9, 2017 (the “2017 Master Loan Agreement”), with Branch Banking and Trust Company (the “Bank”). As of September 30, 2017 , the Company had a loan agreement and a series of related ancillary agreements with the Bank providing for a revolving line of credit loan for a maximum principal amount of $18.0 million , to be used as a “ Working Capital Loan .” As of both September 30, 2017 and December 31, 2016 , borrowings under the Working Capital Loan were $4.0 million . As a credit guarantor to the Bank, the Company is contingently liable for the guaranty of a subsidiary obligation under an irrevocable letter of credit related to workers’ compensation. The amount of this letter of credit was $420,000 as of both September 30, 2017 and December 31, 2016 . As of September 30, 2017 , the Debtors had a loan agreement with the Bank for the $22.6 Million Equipment Loan which is guaranteed by the Debtors and includes the grant of a continuing security interest in all now owned and after acquired and wherever located personal property of the Debtors. The Working Capital Loan and the $22.6 Million Equipment Loan bear interest at a rate per annum equal to one month LIBOR (as defined in the documentation related to each loan) plus 1.80% , which will be adjusted monthly and subject to a maximum rate as described in the documentation related to each loan. On June 9, 2017, the Company and the Debtors entered into the $22.6 Million Equipment Loan agreement. Borrowings of $15.6 million from the $22.6 Million Equipment Loan were used to pay in full all the outstanding Bank equipment loans, with the exception of the Working Capital Loan, plus accrued interest and loan closing costs. The Company’s debt arrangements contain various financial and other covenants including, but not limited to: minimum tangible net worth, maximum debt to tangible net worth ratio and fixed charge coverage ratio. Other loan covenants prohibit, among other things, a change in legal form of the Company, and entering into a merger or consolidation. The loans also have cross-default provisions whereby any default under any loans of the Company (or its subsidiaries) with the Bank, will constitute a default under all of the other loans of the Company (and its subsidiaries) with the Bank.

Commitments and Contingencies (

Commitments and Contingencies (Notes)	9 Months Ended
	Sep. 30, 2017
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Performance Bonds In certain circumstances, the Company is required to provide performance bonds to secure its contractual commitments. Management is not aware of any performance bonds issued for the Company that have ever been called by a customer. As of September 30, 2017 , outstanding performance bonds issued on behalf of the Company’s electrical construction subsidiaries amounted to approximately $40.1 million . Collective Bargaining Agreements C&C, one of the Company’s electrical construction subsidiaries, is party to collective bargaining agreements with unions representing workers performing field construction operations. The collective bargaining agreements expire at various times and have typically been renegotiated and renewed on terms similar to the ones contained in the expiring agreements. The agreements require the subsidiary to pay specified wages, provide certain benefits to their respective union employees and contribute certain amounts to multi-employer pension plans and employee benefit trusts. The subsidiary’s multi-employer pension plan contribution rates generally are specified in the collective bargaining agreements (usually on an annual basis), and contributions are made to the plans on a “pay-as-you-go” basis based on such subsidiary’s union employee payrolls, which cannot be determined for future periods because contributions depend on, among other things, the number of union employees that such subsidiary employs at any given time; the plans in which it may participate vary depending on the projects it has ongoing at any time; and the need for union resources in connection with those projects. If the subsidiary withdraws from, or otherwise terminates its participation in, one or more multi-employer pension plans, or if the plans were to otherwise become substantially underfunded, such subsidiary could be assessed liabilities for additional contributions related to the underfunding of these plans. The Company is not aware of any amounts of withdrawal liability that have been incurred as a result of a withdrawal by C&C from any multi-employer defined benefit pension plans. Legal Proceedings The Company is involved in various legal claims arising in the ordinary course of business. The Company has concluded that the ultimate disposition of these matters should not have a material adverse effect on the Company’s consolidated financial position, results of operations, or liquidity.

Income (Loss) Per Share of Comm

Income (Loss) Per Share of Common Stock	9 Months Ended
	Sep. 30, 2017
Earnings Per Share [Abstract]
Income (Loss) Per Share of Common Stock	Income (loss) Per Share of Common Stock Basic income (loss) per common share is computed by dividing net income by the weighted average number of common stock shares outstanding during the period. Diluted income per share reflects the potential dilution that could occur if common stock equivalents, such as stock options outstanding, were exercised into common stock that subsequently shared in the earnings of the Company. As of September 30, 2017 and 2016 , the Company had no common stock equivalents. The computation of the weighted average number of common stock shares outstanding excludes 2,362,418 shares of Treasury Stock for each of the three and nine month periods ended September 30, 2017 and 2016 .

Customer Concentration

Customer Concentration	9 Months Ended
	Sep. 30, 2017
Risks and Uncertainties [Abstract]
Customer Concentration	Customer Concentration For the nine months ended September 30, 2017 and 2016 , the three largest customers accounted for 65% and 59% , respectively, of the Company’s total revenue. For the three months ended September 30, 2017 and 2016 , three largest customers accounted for 65% and 57% , respectively, of the Company’s total revenue.

Restricted Cash

Restricted Cash	9 Months Ended
	Sep. 30, 2017
Restricted Cash and Investments [Abstract]
Restricted Cash	Restricted Cash Restricted cash, reported under “Deferred charges and other assets” on the Company’s consolidated balance sheet, represents amounts deposited in a trust account to secure the Company’s obligations in connection with the Company’s previous workers’ compensation insurance policy.

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	9 Months Ended
	Sep. 30, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets The following table presents the gross and net balances of our goodwill and intangible assets as of the dates indicated: September 30, 2017 December 31, 2016 Useful Life Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Indefinite-lived and non-amortizable acquired intangible assets Goodwill Indefinite $ 101,407 $ — $ 101,407 $ 101,407 $ — $ 101,407 Definite-lived and amortizable acquired intangible assets Trademarks/Names 15 $ 640,000 $ (160,003 ) $ 479,997 $ 640,000 $ (128,002 ) $ 511,998 Customer relationships 20 350,000 (65,625 ) 284,375 350,000 (52,500 ) 297,500 Non-competition agreement 5 10,000 (8,331 ) 1,669 10,000 (7,332 ) 2,668 Other 1 13,800 (13,800 ) — 13,800 (13,800 ) — Total intangible assets, net $ 1,013,800 $ (247,759 ) $ 766,041 $ 1,013,800 $ (201,634 ) $ 812,166 Amortization of definite-lived intangible assets will be approximately $61,000 annually for 2017 through 2021 .

Organization and Summary of S16

Organization and Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Overview and Basis of Financial Statement Presentation	Overview The Goldfield Corporation (the “Company”) was incorporated in Wyoming in 1906 and subsequently reincorporated in Delaware in 1968. The Company’s principal line of business is the construction of electrical infrastructure for the utility industry and industrial customers. The principal market for the Company’s electrical construction operation is primarily in the Southeast and mid-Atlantic regions of the United States and Texas. Basis of Financial Statement Presentation In the opinion of management, the accompanying unaudited interim consolidated financial statements include all adjustments necessary to present fairly the Company’s financial position, results of operations, and changes in cash flows for the interim periods reported. These adjustments are of a normal recurring nature. All financial statements presented herein are unaudited with the exception of the consolidated balance sheet as of December 31, 2016 , which was derived from the audited consolidated financial statements. The results of operations for the interim periods shown in this report are not necessarily indicative of results to be expected for the year. These statements should be read in conjunction with the consolidated financial statements included in the Company’s annual report on Form 10-K for the year ended December 31, 2016 .
Allowance for Doubtful Accounts	Allowance for Doubtful Accounts The allowance for doubtful accounts is the Company’s best estimate of the amount of probable credit losses in the Company’s existing accounts receivable. The Company determines the allowance based on customer specific information and historical write-off experience. The Company reviews its allowance for doubtful accounts quarterly. Account balances are charged off against the allowance after reasonable means of collection have been exhausted and the potential for recovery is considered remote. As of September 30, 2017 and December 31, 2016 , upon its review, management determined it was not necessary to record an allowance for doubtful accounts due to the majority of accounts receivable being generated by electrical utility customers who the Company considers creditworthy based on timely collection history and other considerations.
Use of Estimates	Use of Estimates Management of the Company has made a number of estimates and assumptions relating to the reporting of assets and liabilities and the disclosure of contingent assets and liabilities to prepare these financial statements in conformity with U.S. generally accepted accounting principles (“GAAP”). Actual results could differ from those estimates. Management considers the most significant estimates in preparing these financial statements to be the estimated cost to complete electrical construction contracts in progress, the adequacy of the accrued remediation costs and the realizability of deferred tax assets.
Fair Value of Financial Instruments	Fair Value of Financial Instruments The Company’s financial instruments include cash and cash equivalents, accounts receivable and accrued billings, restricted cash collateral deposited with insurance carriers, cash surrender value of life insurance policies, accounts payable, notes payable, and other current liabilities. Fair value is the price that would be received to sell an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The fair value guidance establishes a valuation hierarchy, which requires maximizing the use of observable inputs when measuring fair value. The three levels of inputs that may be used are: Level 1 - Quoted market prices in active markets for identical assets or liabilities. Level 2 - Observable market based inputs or other observable inputs. Level 3 - Significant unobservable inputs that cannot be corroborated by observable market data. These values are generally determined using valuation models incorporating management’s estimates of market participant assumptions. Fair values of financial instruments are estimated through the use of public market prices, quotes from financial institutions, and other available information. Management considers the carrying amounts reported on the consolidated balance sheets for cash and cash equivalents, accounts receivable and accrued billings, accounts payable and accrued liabilities, to approximate fair value due to the immediate or short-term maturity of these financial instruments. The Company’s carrying value of long-term notes payable are estimated by management to approximate fair value since the interest rates prescribed by Branch Banking and Trust Company (the “Bank”) are variable market interest rates and are adjusted periodically, and as such, are classified as Level 2. Restricted cash is considered by management to approximate fair value due to the nature of the asset held in a secured interest bearing bank account. The carrying value of cash surrender value of life insurance is also considered by management to approximate fair value as the carrying value is based on the current settlement value under the contract, as provided by the carrier and as such, is classified as Level 2.
Land and Land Development Costs and Residential Properties Under Construction	Land and Land Development Costs and Residential Properties Under Construction The costs of a land purchase and any development expenses up to the initial construction phase of any residential property development project are recorded under the asset “land and land development costs.” Once construction commences, both the land development costs and construction costs are recorded under the asset “residential properties under construction.” The assets “land and land development costs” and “residential properties under construction” relating to specific projects are recorded as current assets when the estimated project completion date is less than one year from the date of the consolidated financial statements, or as non-current assets when the estimated project completion date is one year or more from the date of the consolidated financial statements. In accordance with Accounting Standards Codification (“ASC”) Topic 360-10, Accounting for the Impairment or Disposal of Long-lived Assets , land and residential properties under construction are reviewed by the Company for impairment whenever events or changes in circumstances indicate that the carrying value may not be recoverable. If the carrying amount or basis is not expected to be recovered, impairment losses are recorded and the related assets are adjusted to their estimated fair value. The fair value of an asset is the amount at which that asset could be bought or sold in a current transaction between willing parties, that is, other than in a forced or liquidation sale. The Company also complies with ASC Topic 820, Fair Value Measurement , which defines fair value, establishes a framework for measuring fair value, and expands disclosures about fair value measurements.
Goodwill and Intangible Assets	Goodwill and Intangible Assets Intangible assets with finite useful lives recorded in connection with a historical acquisition are amortized over the term of the related contract or useful life, as applicable. Intangible assets held by the Company with finite useful lives include customer relationships and trademarks. The Company reviews the values recorded for intangible assets and goodwill to assess recoverability from future operations annually or whenever events or changes in circumstances indicate that their carrying amounts may not be recoverable. As of December 31, 2016 , the Company assessed the recoverability of its long-lived assets and goodwill, and believed that there were no events or circumstances present that would require a test of recoverability on those assets. As a result, there was no impairment of the carrying amounts of such assets.
Segment Reporting	Segment Reporting The Company operates as a single reportable segment, electrical construction, under ASC Topic 280-10-50 Disclosures about Segments of an Enterprise and Related Information . The Company’s real estate development operation has diminished to a point that it is no longer significant for reporting purposes and, accordingly, results of the ongoing real estate development operations are included in the income statement under the caption “Other.” Certain corporate costs are not allocated to the electrical construction segment.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) 2014-09, which will replace most existing revenue recognition guidance in U.S. generally accepted accounting principles and is intended to improve and converge the financial reporting requirements for revenue from contracts with customers with International Financial Reporting Standards (“IFRS”) . The core principle of ASU 2014-09 is that an entity should recognize revenue for the transfer of goods or services equal to the amount that it expects to be entitled to receive for those goods or services. ASU 2014-09 also requires additional disclosures about the nature, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments. ASU 2014-09 allows for either retrospective or cumulative effect transition methods of adoption and is effective for periods beginning after December 15, 2016. In August 2015, the FASB issued ASU 2015-14 which provides a one-year deferral of the revenue recognition standard’s effective date. Public business entities are required to apply the revenue recognition standard to annual reporting periods beginning after December 15, 2017, and interim periods within those annual periods. Early application is permitted but not before the original effective date for public business entities (annual reporting periods beginning after December 15, 2016). The option to use either a retrospective or cumulative effect transition method did not change. The Company has performed preliminary assessments and continues to assess the impact on our accounting practices, policies and procedures for recognizing revenue under the new standard. Specifically, under the new standard, electrical construction fixed-price contracts currently accounted for under ASC 605-35 will be recognized over time as services are performed and the underlying obligation to the customer is fulfilled. Generally, this will result in the use of input measures on a cost to cost basis similar to the practices currently in place for contracts accounted for under ASC 605-35. The Company has assessed that under the new guidance the primary impact will be on the timing of when contract modifications and change orders are recognized, mainly due to the application of the contract identification criteria. Currently, contract modifications and change orders are generally included in total contract value when executed by the customer as compared to the new guidance, when legally enforceable. This may result in timing differences on the recognition in revenue and margin when compared to current practices. The Company has also determined there will not be material changes in the pattern of revenue recognition for electrical construction contracts, which are currently accounted for on a time and materials basis. These contracts will be treated as a series of distinct services transferred over time and will generally result in a similar revenue pattern when compared to our current accounting policies. Additionally, for real estate development operations presented under the caption “Other” in the consolidated financial statements, the Company estimates that there will not be changes in the pattern of revenue recognition and will continue to recognize revenue upon the transfer of control of the promised real estate properties, generally at time of closing. The Company is currently completing its evaluation of significant contracts and assessing the potential changes and impact to its consolidated financial statements, as well as the method of adoption. The Company has identified and is in the process of implementing changes to its processes and internal controls to meet the reporting and disclosure requirements of this update and expects to adopt the new revenue recognition guidance, including all applicable subsequent ASUs issued, effective January 1, 2018. In May 2016, the FASB issued ASU 2016-12, which improves guidance on assessing collectability, presentation of sales taxes, non-cash consideration, and completed contracts and contract modifications at transition. The FASB has also issued the following standards which clarify ASU 2014-09 and have the same effective date as the original standard: ASU 2016-20, ASU 2016-10 and ASU 2016-08. These updates are effective concurrently with ASU 2014-09 and are also being evaluated by the Company. In February 2016, the FASB issued ASU 2016-02, to increase transparency and comparability among organizations by recognizing all lease transactions (with terms in excess of 12 months) on the balance sheet as a lease liability and a right-of-use asset (as defined). ASU 2016-02 is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years, with earlier application permitted. Upon adoption, the lessee will apply the new standard retrospectively to all periods presented or retrospectively using a cumulative effect adjustment in the year of adoption. The Company expects this new guidance to cause a material increase to the assets and liabilities on the Company’s consolidated balance sheets. The Company is currently assessing the effect the adoption will have on its consolidated financial statements of income. The impact of this ASU is non-cash in nature, therefore the Company does not expect the adoption of this new guidance to have a material impact on the Company’s cash flows or liquidity. In August 2016, the FASB issued ASU 2016-15, which provides clarification regarding how certain cash receipts and cash payments are presented and classified in the statement of cash flows. This update addresses eight specific cash flow issues with the objective of reducing the existing diversity in practice. In addition, in November 2016, the FASB issued ASU 2016-18, which requires that amounts generally described as restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. Both updates are effective for annual and interim periods beginning after December 15, 2017, with early adoption permitted. The Company is currently assessing the effect that adoption will have on its consolidated financial statements. In October 2016, the FASB issued ASU 2016-16, which eliminates the requirement to defer the recognition of current and deferred income taxes for an intra-entity asset transfer until the asset has been sold to an outside party. Under the new guidance, an entity should recognize the income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs. This update is effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years; early adoption is permitted and is to be applied on a modified retrospective basis through a cumulative-effect adjustment directly to retained earnings at the time of adoption. The Company is currently assessing the impact that adoption will have on its consolidated financial statements. In January 2017, the FASB issued ASU 2017-04, which eliminates Step 2 of the current goodwill impairment test. A goodwill impairment loss will instead be measured at the amount by which a reporting unit’s carrying value exceeds its fair value, not to exceed the recorded amount of goodwill allocated to that reporting unit. The provisions of this ASU are effective for years beginning after December 15, 2019, with early adoption permitted for any impairment test performed on testing dates after January 1, 2017. The Company is currently assessing the impact that adoption will have on its consolidated financial statements however, the Company does not expect this ASU to have a significant impact on its consolidated financial statements or disclosures.

Income Taxes (Tables)

Income Taxes (Tables)	9 Months Ended
	Sep. 30, 2017
Income Tax Disclosure [Abstract]
Schedule of income tax provision from continuing operations	The following table presents the provision for income tax and the effective tax rates from continuing operations for the three and nine month periods ended September 30 as indicated : Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 Income tax provision $ 15,345 $ 1,298,420 $ 3,018,861 $ 6,089,367 Effective income tax rate 40.2 % 36.0 % 37.0 % 36.7 %

Notes Payable (Tables)

Notes Payable (Tables)	9 Months Ended
	Sep. 30, 2017
Debt Disclosure [Abstract]
Schedule of long-term debt	The following table presents the balances of notes payable as of the dates indicated: Branch Banking and Trust Company Maturity Date September 30, December 31, 2016 Interest Rates September 30, 2017 December 31, 2016 Working Capital Loan November 28, 2019 $ 3,950,000 $ 3,950,000 3.06 % 2.44 % $22.6 Million Equipment Loan March 9, 2021 21,070,000 — 3.06 % — % $10.0 Million Equipment Loan July 28, 2020 — 7,579,630 — % 2.81 % $17.0 Million Equipment Loan March 6, 2020 — 9,601,000 — % 2.50 % $2.0 Million Equipment Loan March 6, 2020 — 1,256,625 — % 2.50 % Total notes payable 25,020,000 22,387,255 Less unamortized debt issuance costs 44,404 54,027 Total notes payable, net 24,975,596 22,333,228 Less current portion of notes payable, net 6,098,675 6,101,855 Notes payable net, less current portion $ 18,876,921 $ 16,231,373

Goodwill and Other Intangible19

Goodwill and Other Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Finite-Lived Intangible Assets	The following table presents the gross and net balances of our goodwill and intangible assets as of the dates indicated: September 30, 2017 December 31, 2016 Useful Life Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Indefinite-lived and non-amortizable acquired intangible assets Goodwill Indefinite $ 101,407 $ — $ 101,407 $ 101,407 $ — $ 101,407 Definite-lived and amortizable acquired intangible assets Trademarks/Names 15 $ 640,000 $ (160,003 ) $ 479,997 $ 640,000 $ (128,002 ) $ 511,998 Customer relationships 20 350,000 (65,625 ) 284,375 350,000 (52,500 ) 297,500 Non-competition agreement 5 10,000 (8,331 ) 1,669 10,000 (7,332 ) 2,668 Other 1 13,800 (13,800 ) — 13,800 (13,800 ) — Total intangible assets, net $ 1,013,800 $ (247,759 ) $ 766,041 $ 1,013,800 $ (201,634 ) $ 812,166

Income Taxes (Details)

Income Taxes (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Income tax provision	$ 15,345	$ 1,298,420	$ 3,018,861	$ 6,089,367
Effective income tax rate	40.20%	36.00%	37.00%	36.70%
Federal statutory rate	34.00%		34.12%	35.00%
Minimum amount of future taxable income required to realize deferred tax assets	$ 2,800,000		$ 2,800,000
Unrecognized tax benefits	$ 5,000		$ 5,000		$ 5,000

Commitments and Contingencies21

Commitments and Contingencies Related to Discontinued Operations (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Discontinued Operations and Disposal Groups [Abstract]
Contingency provision within discontinued operations	$ 327,000		$ 327,000		$ 215,000
Provision for remediation costs			(165,000)	$ (174,000)
Loss from discontinued operations, net of tax	(103,487)	$ 0	(103,487)	(108,007)
Income tax benefit	$ (61,556)	$ 0	$ (61,556)	$ (66,077)

Notes Payable (Details)

Notes Payable (Details) - USD ($)	9 Months Ended
	Sep. 30, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Note payable balance	$ 25,020,000	$ 22,387,255
Less unamortized debt issuance costs	44,404	54,027
Total notes payable, net	24,975,596	22,333,228
Less current portion of notes payable, net	6,098,675	6,101,855
Notes payable net, less current portion	$ 18,876,921	16,231,373
Working Capital Loan [Member]
Debt Instrument [Line Items]
Maturity Date	Nov. 28, 2019
Note payable balance	$ 3,950,000	$ 3,950,000
Interest Rate	3.06%	2.44%
$22.6 Million Equipment Loan [Member]
Debt Instrument [Line Items]
Loan agreement face amount	$ 22,600,000
Maturity Date	Mar. 9, 2021
Note payable balance	$ 21,070,000	$ 0
Interest Rate	3.06%	0.00%
$10.0 Million Equipment Loan [Member]
Debt Instrument [Line Items]
Loan agreement face amount	$ 10,000,000
Maturity Date	Jul. 28, 2020
Note payable balance	$ 0	$ 7,579,630
Interest Rate	0.00%	2.81%
$17.0 Million Equipment Loan [Member]
Debt Instrument [Line Items]
Loan agreement face amount	$ 17,000,000
Maturity Date	Mar. 6, 2020
Note payable balance	$ 0	$ 9,601,000
Interest Rate	0.00%	2.50%
$2.0 Million Equipment Loan [Member]
Debt Instrument [Line Items]
Loan agreement face amount	$ 2,000,000
Maturity Date	Mar. 6, 2020
Note payable balance	$ 0	$ 1,256,625
Interest Rate	0.00%	2.50%

Notes Payable (Narrative) (Deta

Notes Payable (Narrative) (Details) - USD ($)	Jun. 09, 2017	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Notes Payable (Textual) [Abstract]
Borrowings outstanding		$ 25,020,000		$ 22,387,255
Letter of credit related to workers' compensation		420,000		420,000
Repayments on notes payable		19,967,255	$ 6,076,742
Working Capital Loan [Member]
Notes Payable (Textual) [Abstract]
Revolving line of credit loan		18,000,000
Borrowings outstanding		3,950,000		3,950,000
$10.0 Million Equipment Loan [Member]
Notes Payable (Textual) [Abstract]
Borrowings outstanding		$ 0		$ 7,579,630
Bank Loans [Member]
Notes Payable (Textual) [Abstract]
Repayments on notes payable	$ 15,600,000
London Interbank Offered Rate (LIBOR) [Member] | 2017 Master Loan Agreement [Member]
Notes Payable (Textual) [Abstract]
Basis spread added to monthly LIBOR		1.80%

Commitments and Contingencies24

Commitments and Contingencies (Details) $ in Millions	Sep. 30, 2017USD ($)
Perforamce Bond [Member]
Guarantor Obligations [Line Items]
Outstanding performance bonds	$ 40.1

Income (Loss) Per Share of Co25

Income (Loss) Per Share of Common Stock (Details) - shares	Sep. 30, 2017	Dec. 31, 2016	Sep. 30, 2016
Earnings Per Share [Abstract]
Shares of treasury stock excluded from weighted average number of common stock shares outstanding	2,362,418	2,362,418	2,362,418

Customer Concentration (Details

Customer Concentration (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Revenue [Member] | Major customers [Member]
Concentration Risk [Line Items]
Concentration risk, percentage	65.00%	57.00%	65.00%	59.00%

Goodwill and Other Intangible27

Goodwill and Other Intangible Assets (Details) - USD ($)	9 Months Ended
	Sep. 30, 2017	Dec. 31, 2016
Finite-Lived Intangible Assets [Line Items]
Goodwill	$ 101,407	$ 101,407
Gross Carrying Amount	1,013,800	1,013,800
Accumulated Amortization	(247,759)	(201,634)
Net Carrying Amount	766,041	812,166
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
Amortization expense, 2017	61,000
Amortization expense, 2018	61,000
Amortization expense, 2019	61,000
Amortization expense, 2020	61,000
Amortization expense, 2021	$ 61,000
Trademarks/Names [Member]
Finite-Lived Intangible Assets [Line Items]
Useful Life (Years)	15 years
Gross Carrying Amount	$ 640,000	640,000
Accumulated Amortization	(160,003)	(128,002)
Net Carrying Amount	$ 479,997	511,998
Customer relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Useful Life (Years)	20 years
Gross Carrying Amount	$ 350,000	350,000
Accumulated Amortization	(65,625)	(52,500)
Net Carrying Amount	$ 284,375	297,500
Non-compete agreement [Member]
Finite-Lived Intangible Assets [Line Items]
Useful Life (Years)	5 years
Gross Carrying Amount	$ 10,000	10,000
Accumulated Amortization	(8,331)	(7,332)
Net Carrying Amount	$ 1,669	2,668
Other [Member]
Finite-Lived Intangible Assets [Line Items]
Useful Life (Years)	1 year
Gross Carrying Amount	$ 13,800	13,800
Accumulated Amortization	(13,800)	(13,800)
Net Carrying Amount	$ 0	$ 0