Goldfield 10-Q 8 May 18 2018 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2018	May 03, 2018
Document And Entity Information [Abstract] [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q1
Entity Registrant Name	GOLDFIELD CORP
Entity Central Index Key	42,316
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		25,451,354

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Mar. 31, 2018	Dec. 31, 2017
Current assets
Cash and cash equivalents	$ 16,566,711	$ 18,529,757
Accounts receivable and accrued billings	16,495,418	21,566,842
Costs and estimated earnings in excess of billings on uncompleted contracts	13,697,310	6,074,346
Income taxes receivable	0	619,552
Residential properties under construction	3,581,864	2,412,202
Prepaid expenses	1,087,420	993,668
Other current assets	1,661,135	1,532,110
Total current assets	53,089,858	51,728,477
Property, buildings and equipment, at cost, net of accumulated depreciation of $40,666,240 in 2018 and $38,927,654 in 2017	38,388,082	36,072,300
Deferred charges and other assets
Land and land development costs	4,760,759	4,326,728
Cash surrender value of life insurance	549,334	550,335
Restricted cash	102,027	102,027
Goodwill	101,407	101,407
Intangibles, net of accumulated amortization of $278,509 in 2018 and $263,134 in 2017	735,291	750,666
Total deferred charges and other assets	6,248,818	5,831,163
Total assets	97,726,758	93,631,940
Current liabilities
Accounts payable and accrued liabilities	12,017,673	9,379,535
Billings in excess of costs and estimated earnings on uncompleted contracts	105,634	166,268
Current portion of other long term debt	108,979	0
Current portion of notes payable, net	6,100,885	6,099,787
Income taxes payable	348,708	0
Accrued remediation costs	78,577	87,553
Total current liabilities	18,760,456	15,733,143
Deferred income taxes	4,618,399	4,698,720
Accrued remediation costs, less current portion	434,164	434,164
Other long term debt, less current portion, net	269,755	0
Notes payable, less current portion, net	14,625,868	16,151,567
Other accrued liabilities	64,128	66,033
Total liabilities	38,772,770	37,083,627
Commitments and contingencies (notes 4 and 6)	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	38,999,115	36,593,440
Treasury stock, 2,362,418 shares, at cost	(1,308,187)	(1,308,187)
Total stockholders’ equity	58,953,988	56,548,313
Total liabilities and stockholders’ equity	$ 97,726,758	$ 93,631,940

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($)	Mar. 31, 2018	Dec. 31, 2017
Statement of Financial Position [Abstract]
Property, buildings and equipment, accumulated depreciation	$ 40,666,240	$ 38,927,654
Finite-lived intangible assets, accumulated amortization	$ 278,509	$ 263,134
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 Inco

Consolidated Statements of Income - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Revenue
Electrical construction	$ 34,131,919	$ 29,448,647
Other	306,777	1,275,217
Total revenue	34,438,696	30,723,864
Costs and expenses
Electrical construction	26,782,860	22,008,973
Other	213,757	874,277
Selling, general and administrative	2,116,414	1,779,972
Depreciation and amortization	1,887,508	1,748,892
Gain on sale of property and equipment	(13,391)	(2,572)
Total costs and expenses	30,987,148	26,409,542
Total operating income	3,451,548	4,314,322
Other income (expense), net
Interest income	6,789	7,336
Interest expense, net of amount capitalized	(189,617)	(134,020)
Other income, net	15,094	14,649
Total other expense, net	(167,734)	(112,035)
Income before income taxes	3,283,814	4,202,287
Income tax provision	878,139	1,537,138
Net income	$ 2,405,675	$ 2,665,149
Net income (loss) per share of common stock — basic and diluted
Net income per share of common stock - basic and diluted (usd per share)	$ 0.09	$ 0.10
Weighted average shares outstanding - basic and diluted (shares)	25,451,354	25,451,354

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Cash flows from operating activities
Net income	$ 2,405,675	$ 2,665,149
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation and amortization	1,887,508	1,748,892
Amortization of debt issuance costs	5,399	5,921
Deferred income taxes	(80,321)	(291,308)
Gain on sale of property and equipment	(13,391)	(2,572)
Other losses	1,001	0
Changes in operating assets and liabilities
Accounts receivable and accrued billings	5,071,424	2,123,564
Costs and estimated earnings in excess of billings on uncompleted contracts	(7,622,964)	(3,090,811)
Residential properties under construction	(1,169,662)	162,367
Income taxes receivable	619,552	533,837
Prepaid expenses and other assets	(222,777)	(894,916)
Land and land development costs	(434,031)	473,986
Income taxes payable	348,708	1,241,528
Accounts payable and accrued liabilities	2,170,465	(3,222,390)
Billings in excess of costs and estimated earnings on uncompleted contracts	(60,634)	(324,826)
Accrued remediation costs	(8,976)	(17,490)
Net cash provided by operating activities	2,896,976	1,110,931
Cash flows from investing activities
Proceeds from disposal of property and equipment	70,500	36,242
Purchases of property, buildings and equipment	(3,374,256)	(5,987,477)
Net cash used in investing activities	(3,303,756)	(5,951,235)
Cash flows from financing activities
Repayments on notes payable	(1,530,000)	(1,531,056)
Other long term debt repayments	(26,266)	0
Net cash used in financing activities	(1,556,266)	(1,531,056)
Net decrease in cash, cash equivalents and restricted cash	(1,963,046)	(6,371,360)
Cash, cash equivalents and restricted cash at beginning of the period	18,631,784	20,772,689
Cash, cash equivalents and restricted cash at end of the period	16,668,738	14,401,329
Supplemental disclosure of cash flow information
Interest paid, net of amounts capitalized	188,194	127,751
Income taxes (refunded) paid, net	(9,800)	53,081
Supplemental disclosure of non-cash investing
Liability for equipment acquired	523,047	87,482
Equipment funded by other long term debt	$ 378,734	$ 0

Organization and Summary of Sig

Organization and Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2018
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, mid-Atlantic, Texas and Southwest regions of the United States. 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, 2017 , 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, 2017 . 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 March 31, 2018 and December 31, 2017 , 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 consolidated financial statements in conformity with U.S. generally accepted accounting principles. Actual results could differ from those estimates. Management considers the most significant estimates in preparing these consolidated financial statements to be the estimated costs at completion of electrical construction contracts in progress. 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, 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 three months ended March 31, 2018 or in 2017 . Restricted Cash The Company’s restricted cash includes cash deposited in a secured interest bearing bank account, as required by the Collateral Trust Agreement in connection with the Company’s previous workers’ compensation insurance policy, as described in note 10. Also, see note 10 for information regarding the immaterial impact of an Accounting Standards Update (“ASU”) issued by the Financial Accounting Standards Board (the “FASB”) specifically related to the disclosure of restricted cash. 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, 2017 , the Company assessed the recoverability of its long-lived assets and goodwill, by reviewing relevant events and circumstances to evaluate the qualitative factors in addition to the quantitative impairment test. 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. Reclassifications Certain amounts previously reflected in the prior year statement of cash flows have been reclassified to conform to the Company’s 2018 presentation. The reclassifications are associated with the adoption of ASU 2016-15 for restricted cash. Recent Accounting Pronouncements In May 2014, the FASB issued ASU 2014-09, ASC Topic 606, Revenue from Contracts with Customers (“ASC 606”) , 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”) . Subsequently the FASB issued various ASUs in relation to the new revenue recognition standard. The core principle of ASC 606 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. ASC 606 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. ASC 606 allows for either retrospective or cumulative effect transition methods of adoption and is effective for periods beginning after December 15, 2017 . On January 1, 2018 the Company adopted the new accounting standard ASC 606 and all the related amendments (“new revenue standard”) to all applicable contracts using the modified retrospective method (cumulative effect method). Applicable contracts did not include contracts considered substantially complete. Contracts that were modified before the beginning of the earliest period presented were not retrospectively restated. Instead, the Company reflected the aggregate effect of all modifications when identifying the satisfied and unsatisfied performance obligations, determining the transaction price and allocating the transaction price as of the date of adoption. Adoption of the new revenue standard did not result in significant changes to the Company’s accounting policies, business processes, systems or controls, or have a material impact on its financial position, results of operations and cash flows. In addition, the Company concluded that the cumulative effect of initially applying the new revenue standard was immaterial and consequently did not record an adjustment to the opening balance of retained earnings (less than $30,000 net of tax). The comparative information has not been restated and continues to be reported under the accounting standards in effect for those periods. The Company does not expect the adoption of the new revenue standard to have a material impact to its financial position, results of operations and cash flows on an ongoing basis. Specifically, under the new revenue standard, electrical construction fixed-price contracts previously accounted for under ASC 605-35 will be recognized over time as services are performed and the underlying obligation to the customer is fulfilled. This resulted mainly in the use of input measures on a cost to cost basis similar to the practices previously in place for contracts accounted for under ASC 605-35. The Company concluded that under the new revenue standard the primary impact is on the timing of when contract modifications, variable consideration and change orders are recognized, mainly due to the application of the contract identification criteria. This resulted in timing differences on the recognition in revenue and margin when compared to prior practices. The Company has also determined that electrical construction contracts previously accounted for on a man hour and equipment basis will be recognized over time as services are performed and the underlying obligation to the customer is fulfilled. The Company has elected to apply the practical expedient within ASC 606-10-55-18 for contracts that are routinely billed based on established man hour and equipment rates and the amounts invoiced correspond directly with the value to the customer of the Company’s performance completed to date. 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 the prior accounting policies. Additionally, for real estate development operations presented under the caption “Other” in the consolidated financial statements, the Company determined that there is no change 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. S ee note 8 for more information regarding the impact of the new revenue standard. 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 has adopted these updates and determined there is not a material impact on its consolidated financial statements due to the adoption. The consolidated statement of cash flows for the three months March 31, 2017 , has been adjusted on the line item “ Accounts receivable and accrued billings ” to reflect an immaterial difference in the balance of cash, cash equivalents and restricted cash for the 2017 period. The Company did not make any other prior period adjustments due to the adoption of this ASU. Had the Company made the adjustment to its consolidated balance sheet as of December 31, 2017 , restricted cash would have decreased by approximately $2,300 with a corresponding increase to other receivables. This adjustment is associated with the interest income earned on the amount deposited in a trust account for the restricted cash balance. See note 10 for additional restricted cash disclosure information. 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 adoption of ASU 2016-16 had no impact on the Company’s 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.

Contract Assets and Contract Li

Contract Assets and Contract Liabilities (Notes)	3 Months Ended
	Mar. 31, 2018
Revenue from Contract with Customer [Abstract]
Contract Assets and Contract Liabilities	Contract Assets and Contract Liabilities On January 1, 2018 the Company adopted the new accounting standard ASC 606 and all the related amendments (“new revenue standard”) to all applicable contracts using the modified retrospective method. Applicable contracts did not include contracts considered substantially complete. Contracts that were modified before the beginning of the earliest period presented were not retrospectively restated. Instead, the Company reflected the aggregate effect of all modifications when identifying the satisfied and unsatisfied performance obligations, determining the transaction price and allocating the transaction price as of the date of adoption. Adoption of this standard did not result in significant changes to the Company’s accounting policies, business processes, systems or controls, or have a material impact on its financial position, results of operations and cash flows. The following table presents the net contract assets and liabilities for the electrical construction operations as of the dates indicated: March 31, 2018 December 31, 2017 $ Change Contract assets (1) $ 13,697,310 $ 6,074,346 $ 7,622,964 Contract liabilities (2) (127,076 ) (367,552 ) 240,476 Net contract assets $ 13,570,234 $ 5,706,794 $ 7,863,440 (1) Contract assets consist of amounts under the caption “ Costs and estimated earnings in excess of billings on uncompleted contracts. ” (2) Contract liabilities consist of the aggregate of amounts presented under the caption “ Billings in excess of costs and estimated earnings on uncompleted contracts ” and any contract loss accruals included in “ Accounts payable and accrued liabilities. ” The following table presents the changes in the net contract assets and liabilities for the electrical construction operations for the three months ended March 31, 2018 : $ Change Cumulative adjustment due to changes in contract values (1) $ 1,364,446 Cumulative adjustment due to changes in estimated costs at completion (1,130,132 ) Revenue recognized in the period 25,017,253 Amounts reclassified to receivables (17,567,969 ) Impairment of contract assets (2) 179,842 Total $ 7,863,440 (1) Amount attributable to contract modifications accounted for on a cumulative catch-up basis where the customer has approved a change in the scope or price of the contract, where the modification is treated as part of the existing contract and where the remaining goods and services are not distinct. (2) Adjustment amounts due to changes in contract losses. For the three months ended March 31, 2018 , $166,000 of the total revenue recognized in the current period was attributable to the contract liability billings in excess of costs and estimated earnings on uncompleted contracts’ balance as of December 31, 2017 . Revenue Recognition and Significant Accounting Policies Disclosures On January 1, 2018, the Company adopted the new revenue standard ASC 606 and all the related amendments (“new revenue standard”). Adoption of this standard did not result in significant changes to the Company’s accounting policies, business processes, systems or controls, or have a material impact on its financial position, results of operations and cash flows. The Company concluded that the cumulative effect of initially applying the new revenue standard was immaterial and consequently did not record an adjustment to the opening balance of retained earnings. The comparative information has not been restated and continues to be reported under the accounting standards in effect for those periods. The Company does not expect the adoption of the new revenue standard to have a material impact to its financial position, results of operations and cash flows on an ongoing basis. The Company’s significant accounting policies are detailed in “Note 1: Organization and Summary of Significant Accounting Policies” within Item 8 of the Company’s Annual Report on Form 10-K for the year ended December 31, 2017. Significant changes to the Company’s accounting policies as a result of adopting the new revenue standard are discussed below. To determine the proper revenue recognition method for contracts for electrical construction services, the Company evaluates whether two or more contracts should be combined and accounted for as one single contract and whether the combined or single contract should be accounted for as more than one performance obligation. This evaluation requires significant judgment and the decision to combine a group of contracts or separate the combined or single contract into multiple performance obligations could change the amount of revenue and profit recorded in a given period. For most of the contracts, the Company provides a significant service of integrating a complex set of tasks and components into a single project or capability. Hence, the entire contract is accounted for as one performance obligation. However, less likely, if a contract is separated into more than one performance obligation, the Company allocates the total transaction price for each performance obligation in an amount based on the estimated relative stand-alone selling prices of the promised goods or services underlying each performance obligation. The Company accounts for a contract when it has approval and commitment from both parties, the rights of the parties are identified, payment terms are identified, the contract has commercial substance and collectability of consideration is probable. The Company generally recognizes revenue over time as it performs because of continuous transfer of control to the customer. Because of control transferring over time, revenue is recognized based on the extent of progress towards completion of the performance obligation. The cost-to-cost measure of progress is generally used for its contracts because it best depicts the transfer of control to the customer which occurs as the Company incurs costs on the contracts. Under the cost-to-cost measure of progress, the extent of progress towards completion is measured based on the ratio of costs incurred to date to the total estimated costs at completion of the performance obligation. Revenue is recorded proportionally as costs are incurred. Due to the nature of the work required to be performed on many of the performance obligations, the estimation of total revenue and cost at completion is complex, subject to many variables and requires significant judgment. The Company estimates variable consideration at the most likely amount which the Company expects to receive. The Company includes estimated amounts in the transaction price to the extent it is probable that a significant reversal of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is resolved. The estimates of variable consideration and determination of whether to include estimated amounts in the transaction price are based largely on an assessment of all information (historical, current and forecasted) that is reasonably available to the Company. Contracts are often modified to account for changes in contract specifications and requirements. The Company considers contract modifications to exist when the modification either creates new or changes the existing enforceable rights and obligations. Most of the contract modifications are for goods or services that are not distinct from the existing contract due to the significant integration service provided in the context of the contract and are accounted for as if they were part of that existing contract. The effect of a contract modification on the transaction price and our measure of progress for the performance obligation to which it relates is recognized as an adjustment to revenue (either as an increase in or a reduction of revenue) on a cumulative catch-up basis. The Company has a standard and disciplined quarterly estimated costs at completion process in which management reviews the progress and execution of our performance obligations. Management must make assumptions and estimates regarding labor productivity and availability, the complexity of the work to be performed, the availability of materials, the length of time to complete the performance obligation (e.g., to estimate increases in wages and prices for materials and related support cost allocations), and execution by our subcontractors, among other variables. Based on this analysis, any quarterly adjustments to net revenue, cost of electrical construction revenue and the related impact to operating income are recognized as necessary in the period they become known. The following table disaggregates the Company’s revenue for the three months ended March 31 as indicated : Three Months Ended March 31, 2018 2017 Electrical construction operations (1) Southeast $ 11,984,171 $ 17,440,296 mid-Atlantic 9,274,423 6,166,611 Texas and Southwest 12,203,065 5,165,646 Other electrical construction (2) 670,260 676,094 Total 34,131,919 29,448,647 All Other (3) 306,777 1,275,217 Total revenue $ 34,438,696 $ 30,723,864 ___________________________ (1) Principal electrical construction operations includes revenue from transmission lines, distribution systems, substations and drilled pier foundations. (2) Other electrical construction includes revenue from storm work, fiber optics and other miscellaneous electrical construction items. (3) Mainly real estate construction revenue. The Company would have recognized $69,000 less revenue under legacy accounting practices for the three months ended March 31, 2018 , than it did under the new revenue standard. This was attributable to the assessment of variable consideration and performance obligations within our contractual arrangements. The aggregate amount of the transaction price allocated to performance obligations that are unsatisfied as of March 31, 2018 was $36.4 million . Of this total the amount expected to be satisfied within the next twelve months is $36.1 million and the remaining balance of $280,000 is expected to be satisfied beyond the next twelve months.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2018
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 months ended March 31 as indicated : Three Months Ended March 31, 2018 2017 Income tax provision $ 878,139 $ 1,537,138 Effective income tax rate 26.7 % 36.6 % On December 22, 2017, the President signed into law the Tax Cuts and Jobs Act (the “Tax Act”). The Tax Act significantly revises the U.S. tax code by, among other items, reducing the federal corporate tax rate from its highest rate of 35% to a single rate of 21%. The Company’s expected tax rate for the year ending December 31, 2018 , which was calculated based on the estimated annual operating results for the year, is 26.7% . The expected tax rate differs from the federal statutory rate of 21% due to state income taxes and nondeductible expenses. The Company’s effective tax rate for the three months ended March 31, 2018 was 26.7% and reflects the annual expected tax rate for 2018. The effective tax rate for the three months ended March 31, 2017 was 36.6% which differs from the federal statutory rate of 35% due to state income taxes and nondeductible expenses offset by the domestic production activities deduction. The Company is evaluating the impact of the new revenue standard under ASC 606 for tax purposes. A review of the changes in the Company’s revenue recognition process indicates it will be a non-automatic change in accounting method based on current Internal Revenue Service (“IRS”) regulations. The Company estimates the impact to be a decrease of approximately $40,000 revenue and $10,000 tax provision. This impact has not been reported in the financial statements as of March 31, 2018 as it is a non-automatic change at this time and is subject to review and approval by the IRS. 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, 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 March 31, 2018 is approximately $5.6 million . The Company has gross unrecognized tax benefits of $5,000 as of both March 31, 2018 and December 31, 2017 . 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 2014 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	3 Months Ended
	Mar. 31, 2018
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 $513,000 and $522,000 , as of March 31, 2018 and December 31, 2017 , respectively. No change to the provision was required in the three month periods ended March 31, 2018 or 2017. The remaining balance of the accrued remediation costs as of March 31, 2018 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 and Other Long Te

Notes Payable and Other Long Term Debt	3 Months Ended
	Mar. 31, 2018
Debt Disclosure [Abstract]
Notes Payable and Other Long Term Debt	Notes Payable and Other Long Term Debt Notes Payable The following table presents the balances of notes payable as of the dates indicated: Branch Banking and Trust Company Maturity Date March 31, December 31, 2017 Interest Rates March 31, 2018 December 31, 2017 Working Capital Loan November 28, 2019 $ 2,750,000 $ 2,750,000 3.50 % 3.38 % $22.6 Million Equipment Loan March 9, 2021 18,010,000 19,540,000 3.56 % 3.25 % Total notes payable 20,760,000 22,290,000 Less unamortized debt issuance costs 33,247 38,646 Total notes payable, net 20,726,753 22,251,354 Less current portion of notes payable, net 6,100,885 6,099,787 Notes payable net, less current portion $ 14,625,868 $ 16,151,567 As of March 31, 2018 , 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 March 31, 2018 , the Company had a loan agreement and a series of related ancillary agreements with the Bank under the 2017 Master Loan Agreement 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 March 31, 2018 and December 31, 2017 , borrowings under the Working Capital Loan were $2.8 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 March 31, 2018 and December 31, 2017 . As of March 31, 2018 , the Debtors had a loan agreement with the Bank under the 2017 Master Loan Agreement 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. 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. Other Long Term Debt As of March 31, 2018 , the Company had an equipment purchase loan agreement for a specialty piece of equipment to be used in the Company’s electrical construction operations in the amount of $405,000 plus interest and sales tax. The agreement requires monthly payments of $10,687 plus interest at a 5.85% fixed rate. The loan matures on June 14, 2021 and there are no early payment provisions.

Commitments and Contingencies (

Commitments and Contingencies (Notes)	3 Months Ended
	Mar. 31, 2018
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 March 31, 2018 , outstanding performance bonds issued on behalf of the Company’s electrical construction subsidiaries amounted to approximately $48.4 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 Per Share of Common Stoc

Income Per Share of Common Stock	3 Months Ended
	Mar. 31, 2018
Earnings Per Share [Abstract]
Income (Loss) Per Share of Common Stock	Income Per Share of Common Stock Basic income 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 March 31, 2018 and 2017 , 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 months ended March 31, 2018 and 2017 .

ASC 606 Revenue Recognition and

ASC 606 Revenue Recognition and Significant Accounting Policies Disclosures	3 Months Ended
	Mar. 31, 2018
Revenue from Contract with Customer [Abstract]
ASC 606 Revenue Recognition and Significant Accounting Policies Disclosures	Contract Assets and Contract Liabilities On January 1, 2018 the Company adopted the new accounting standard ASC 606 and all the related amendments (“new revenue standard”) to all applicable contracts using the modified retrospective method. Applicable contracts did not include contracts considered substantially complete. Contracts that were modified before the beginning of the earliest period presented were not retrospectively restated. Instead, the Company reflected the aggregate effect of all modifications when identifying the satisfied and unsatisfied performance obligations, determining the transaction price and allocating the transaction price as of the date of adoption. Adoption of this standard did not result in significant changes to the Company’s accounting policies, business processes, systems or controls, or have a material impact on its financial position, results of operations and cash flows. The following table presents the net contract assets and liabilities for the electrical construction operations as of the dates indicated: March 31, 2018 December 31, 2017 $ Change Contract assets (1) $ 13,697,310 $ 6,074,346 $ 7,622,964 Contract liabilities (2) (127,076 ) (367,552 ) 240,476 Net contract assets $ 13,570,234 $ 5,706,794 $ 7,863,440 (1) Contract assets consist of amounts under the caption “ Costs and estimated earnings in excess of billings on uncompleted contracts. ” (2) Contract liabilities consist of the aggregate of amounts presented under the caption “ Billings in excess of costs and estimated earnings on uncompleted contracts ” and any contract loss accruals included in “ Accounts payable and accrued liabilities. ” The following table presents the changes in the net contract assets and liabilities for the electrical construction operations for the three months ended March 31, 2018 : $ Change Cumulative adjustment due to changes in contract values (1) $ 1,364,446 Cumulative adjustment due to changes in estimated costs at completion (1,130,132 ) Revenue recognized in the period 25,017,253 Amounts reclassified to receivables (17,567,969 ) Impairment of contract assets (2) 179,842 Total $ 7,863,440 (1) Amount attributable to contract modifications accounted for on a cumulative catch-up basis where the customer has approved a change in the scope or price of the contract, where the modification is treated as part of the existing contract and where the remaining goods and services are not distinct. (2) Adjustment amounts due to changes in contract losses. For the three months ended March 31, 2018 , $166,000 of the total revenue recognized in the current period was attributable to the contract liability billings in excess of costs and estimated earnings on uncompleted contracts’ balance as of December 31, 2017 . Revenue Recognition and Significant Accounting Policies Disclosures On January 1, 2018, the Company adopted the new revenue standard ASC 606 and all the related amendments (“new revenue standard”). Adoption of this standard did not result in significant changes to the Company’s accounting policies, business processes, systems or controls, or have a material impact on its financial position, results of operations and cash flows. The Company concluded that the cumulative effect of initially applying the new revenue standard was immaterial and consequently did not record an adjustment to the opening balance of retained earnings. The comparative information has not been restated and continues to be reported under the accounting standards in effect for those periods. The Company does not expect the adoption of the new revenue standard to have a material impact to its financial position, results of operations and cash flows on an ongoing basis. The Company’s significant accounting policies are detailed in “Note 1: Organization and Summary of Significant Accounting Policies” within Item 8 of the Company’s Annual Report on Form 10-K for the year ended December 31, 2017. Significant changes to the Company’s accounting policies as a result of adopting the new revenue standard are discussed below. To determine the proper revenue recognition method for contracts for electrical construction services, the Company evaluates whether two or more contracts should be combined and accounted for as one single contract and whether the combined or single contract should be accounted for as more than one performance obligation. This evaluation requires significant judgment and the decision to combine a group of contracts or separate the combined or single contract into multiple performance obligations could change the amount of revenue and profit recorded in a given period. For most of the contracts, the Company provides a significant service of integrating a complex set of tasks and components into a single project or capability. Hence, the entire contract is accounted for as one performance obligation. However, less likely, if a contract is separated into more than one performance obligation, the Company allocates the total transaction price for each performance obligation in an amount based on the estimated relative stand-alone selling prices of the promised goods or services underlying each performance obligation. The Company accounts for a contract when it has approval and commitment from both parties, the rights of the parties are identified, payment terms are identified, the contract has commercial substance and collectability of consideration is probable. The Company generally recognizes revenue over time as it performs because of continuous transfer of control to the customer. Because of control transferring over time, revenue is recognized based on the extent of progress towards completion of the performance obligation. The cost-to-cost measure of progress is generally used for its contracts because it best depicts the transfer of control to the customer which occurs as the Company incurs costs on the contracts. Under the cost-to-cost measure of progress, the extent of progress towards completion is measured based on the ratio of costs incurred to date to the total estimated costs at completion of the performance obligation. Revenue is recorded proportionally as costs are incurred. Due to the nature of the work required to be performed on many of the performance obligations, the estimation of total revenue and cost at completion is complex, subject to many variables and requires significant judgment. The Company estimates variable consideration at the most likely amount which the Company expects to receive. The Company includes estimated amounts in the transaction price to the extent it is probable that a significant reversal of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is resolved. The estimates of variable consideration and determination of whether to include estimated amounts in the transaction price are based largely on an assessment of all information (historical, current and forecasted) that is reasonably available to the Company. Contracts are often modified to account for changes in contract specifications and requirements. The Company considers contract modifications to exist when the modification either creates new or changes the existing enforceable rights and obligations. Most of the contract modifications are for goods or services that are not distinct from the existing contract due to the significant integration service provided in the context of the contract and are accounted for as if they were part of that existing contract. The effect of a contract modification on the transaction price and our measure of progress for the performance obligation to which it relates is recognized as an adjustment to revenue (either as an increase in or a reduction of revenue) on a cumulative catch-up basis. The Company has a standard and disciplined quarterly estimated costs at completion process in which management reviews the progress and execution of our performance obligations. Management must make assumptions and estimates regarding labor productivity and availability, the complexity of the work to be performed, the availability of materials, the length of time to complete the performance obligation (e.g., to estimate increases in wages and prices for materials and related support cost allocations), and execution by our subcontractors, among other variables. Based on this analysis, any quarterly adjustments to net revenue, cost of electrical construction revenue and the related impact to operating income are recognized as necessary in the period they become known. The following table disaggregates the Company’s revenue for the three months ended March 31 as indicated : Three Months Ended March 31, 2018 2017 Electrical construction operations (1) Southeast $ 11,984,171 $ 17,440,296 mid-Atlantic 9,274,423 6,166,611 Texas and Southwest 12,203,065 5,165,646 Other electrical construction (2) 670,260 676,094 Total 34,131,919 29,448,647 All Other (3) 306,777 1,275,217 Total revenue $ 34,438,696 $ 30,723,864 ___________________________ (1) Principal electrical construction operations includes revenue from transmission lines, distribution systems, substations and drilled pier foundations. (2) Other electrical construction includes revenue from storm work, fiber optics and other miscellaneous electrical construction items. (3) Mainly real estate construction revenue. The Company would have recognized $69,000 less revenue under legacy accounting practices for the three months ended March 31, 2018 , than it did under the new revenue standard. This was attributable to the assessment of variable consideration and performance obligations within our contractual arrangements. The aggregate amount of the transaction price allocated to performance obligations that are unsatisfied as of March 31, 2018 was $36.4 million . Of this total the amount expected to be satisfied within the next twelve months is $36.1 million and the remaining balance of $280,000 is expected to be satisfied beyond the next twelve months.

Customer Concentration

Customer Concentration	3 Months Ended
	Mar. 31, 2018
Risks and Uncertainties [Abstract]
Customer Concentration	Customer Concentration For the three months ended March 31, 2018 and 2017 , the three largest customers accounted for 68% and 66% , respectively, of the Company’s total revenue.

Restricted Cash

Restricted Cash	3 Months Ended
	Mar. 31, 2018
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. The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the balance sheet that sum to the total of the same such amounts shown in the statement of cash flows as of the dates indicated: March 31, 2018 December 31, 2017 Cash and cash equivalents $ 16,566,711 $ 18,529,757 Restricted cash 102,027 102,027 Cash, cash equivalents and restricted cash shown in the consolidated statement of cash flows $ 16,668,738 $ 18,631,784

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	3 Months Ended
	Mar. 31, 2018
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: March 31, 2018 December 31, 2017 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 $ (181,337 ) $ 458,663 $ 640,000 $ (170,670 ) $ 469,330 Customer relationships 20 350,000 (74,375 ) 275,625 350,000 (70,000 ) 280,000 Non-competition agreement 5 10,000 (8,997 ) 1,003 10,000 (8,664 ) 1,336 Other 1 13,800 (13,800 ) — 13,800 (13,800 ) — Total $ 1,013,800 $ (278,509 ) $ 735,291 $ 1,013,800 $ (263,134 ) $ 750,666 Amortization of definite-lived intangible assets will be approximately $60,000 annually for 2018 through 2022 .

Organization and Summary of S17

Organization and Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2018
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, mid-Atlantic, Texas and Southwest regions of the United States. 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, 2017 , 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, 2017 .
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 March 31, 2018 and December 31, 2017 , 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 consolidated financial statements in conformity with U.S. generally accepted accounting principles. Actual results could differ from those estimates. Management considers the most significant estimates in preparing these consolidated financial statements to be the estimated costs at completion of electrical construction contracts in progress.
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, 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.
Restricted Cash	Restricted Cash The Company’s restricted cash includes cash deposited in a secured interest bearing bank account, as required by the Collateral Trust Agreement in connection with the Company’s previous workers’ compensation insurance policy, as described in note 10. Also, see note 10 for information regarding the immaterial impact of an Accounting Standards Update (“ASU”) issued by the Financial Accounting Standards Board (the “FASB”) specifically related to the disclosure of restricted cash.
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, 2017 , the Company assessed the recoverability of its long-lived assets and goodwill, by reviewing relevant events and circumstances to evaluate the qualitative factors in addition to the quantitative impairment test. 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.
Reclassifications	Reclassifications Certain amounts previously reflected in the prior year statement of cash flows have been reclassified to conform to the Company’s 2018 presentation. The reclassifications are associated with the adoption of ASU 2016-15 for restricted cash.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In May 2014, the FASB issued ASU 2014-09, ASC Topic 606, Revenue from Contracts with Customers (“ASC 606”) , 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”) . Subsequently the FASB issued various ASUs in relation to the new revenue recognition standard. The core principle of ASC 606 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. ASC 606 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. ASC 606 allows for either retrospective or cumulative effect transition methods of adoption and is effective for periods beginning after December 15, 2017 . On January 1, 2018 the Company adopted the new accounting standard ASC 606 and all the related amendments (“new revenue standard”) to all applicable contracts using the modified retrospective method (cumulative effect method). Applicable contracts did not include contracts considered substantially complete. Contracts that were modified before the beginning of the earliest period presented were not retrospectively restated. Instead, the Company reflected the aggregate effect of all modifications when identifying the satisfied and unsatisfied performance obligations, determining the transaction price and allocating the transaction price as of the date of adoption. Adoption of the new revenue standard did not result in significant changes to the Company’s accounting policies, business processes, systems or controls, or have a material impact on its financial position, results of operations and cash flows. In addition, the Company concluded that the cumulative effect of initially applying the new revenue standard was immaterial and consequently did not record an adjustment to the opening balance of retained earnings (less than $30,000 net of tax). The comparative information has not been restated and continues to be reported under the accounting standards in effect for those periods. The Company does not expect the adoption of the new revenue standard to have a material impact to its financial position, results of operations and cash flows on an ongoing basis. Specifically, under the new revenue standard, electrical construction fixed-price contracts previously accounted for under ASC 605-35 will be recognized over time as services are performed and the underlying obligation to the customer is fulfilled. This resulted mainly in the use of input measures on a cost to cost basis similar to the practices previously in place for contracts accounted for under ASC 605-35. The Company concluded that under the new revenue standard the primary impact is on the timing of when contract modifications, variable consideration and change orders are recognized, mainly due to the application of the contract identification criteria. This resulted in timing differences on the recognition in revenue and margin when compared to prior practices. The Company has also determined that electrical construction contracts previously accounted for on a man hour and equipment basis will be recognized over time as services are performed and the underlying obligation to the customer is fulfilled. The Company has elected to apply the practical expedient within ASC 606-10-55-18 for contracts that are routinely billed based on established man hour and equipment rates and the amounts invoiced correspond directly with the value to the customer of the Company’s performance completed to date. 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 the prior accounting policies. Additionally, for real estate development operations presented under the caption “Other” in the consolidated financial statements, the Company determined that there is no change 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. S ee note 8 for more information regarding the impact of the new revenue standard. 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 has adopted these updates and determined there is not a material impact on its consolidated financial statements due to the adoption. The consolidated statement of cash flows for the three months March 31, 2017 , has been adjusted on the line item “ Accounts receivable and accrued billings ” to reflect an immaterial difference in the balance of cash, cash equivalents and restricted cash for the 2017 period. The Company did not make any other prior period adjustments due to the adoption of this ASU. Had the Company made the adjustment to its consolidated balance sheet as of December 31, 2017 , restricted cash would have decreased by approximately $2,300 with a corresponding increase to other receivables. This adjustment is associated with the interest income earned on the amount deposited in a trust account for the restricted cash balance. See note 10 for additional restricted cash disclosure information. 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 adoption of ASU 2016-16 had no impact on the Company’s 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.

Contract Assets and Contract 18

Contract Assets and Contract Liabilities (Tables)	3 Months Ended
	Mar. 31, 2018
Revenue from Contract with Customer [Abstract]
Contract with Customer, Asset and Liability	The following table presents the net contract assets and liabilities for the electrical construction operations as of the dates indicated: March 31, 2018 December 31, 2017 $ Change Contract assets (1) $ 13,697,310 $ 6,074,346 $ 7,622,964 Contract liabilities (2) (127,076 ) (367,552 ) 240,476 Net contract assets $ 13,570,234 $ 5,706,794 $ 7,863,440 (1) Contract assets consist of amounts under the caption “ Costs and estimated earnings in excess of billings on uncompleted contracts. ” (2) Contract liabilities consist of the aggregate of amounts presented under the caption “ Billings in excess of costs and estimated earnings on uncompleted contracts ” and any contract loss accruals included in “ Accounts payable and accrued liabilities. ” The following table presents the changes in the net contract assets and liabilities for the electrical construction operations for the three months ended March 31, 2018 : $ Change Cumulative adjustment due to changes in contract values (1) $ 1,364,446 Cumulative adjustment due to changes in estimated costs at completion (1,130,132 ) Revenue recognized in the period 25,017,253 Amounts reclassified to receivables (17,567,969 ) Impairment of contract assets (2) 179,842 Total $ 7,863,440 (1) Amount attributable to contract modifications accounted for on a cumulative catch-up basis where the customer has approved a change in the scope or price of the contract, where the modification is treated as part of the existing contract and where the remaining goods and services are not distinct. (2) Adjustment amounts due to changes in contract losses.

Income Taxes (Tables)

Income Taxes (Tables)	3 Months Ended
	Mar. 31, 2018
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 months ended March 31 as indicated : Three Months Ended March 31, 2018 2017 Income tax provision $ 878,139 $ 1,537,138 Effective income tax rate 26.7 % 36.6 %

Notes Payable and Other Long 20

Notes Payable and Other Long Term Debt (Tables)	3 Months Ended
	Mar. 31, 2018
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 March 31, December 31, 2017 Interest Rates March 31, 2018 December 31, 2017 Working Capital Loan November 28, 2019 $ 2,750,000 $ 2,750,000 3.50 % 3.38 % $22.6 Million Equipment Loan March 9, 2021 18,010,000 19,540,000 3.56 % 3.25 % Total notes payable 20,760,000 22,290,000 Less unamortized debt issuance costs 33,247 38,646 Total notes payable, net 20,726,753 22,251,354 Less current portion of notes payable, net 6,100,885 6,099,787 Notes payable net, less current portion $ 14,625,868 $ 16,151,567

ASC 606 Revenue Recognition a21

ASC 606 Revenue Recognition and Significant Accounting Policies Disclosures (Tables)	3 Months Ended
	Mar. 31, 2018
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The following table disaggregates the Company’s revenue for the three months ended March 31 as indicated : Three Months Ended March 31, 2018 2017 Electrical construction operations (1) Southeast $ 11,984,171 $ 17,440,296 mid-Atlantic 9,274,423 6,166,611 Texas and Southwest 12,203,065 5,165,646 Other electrical construction (2) 670,260 676,094 Total 34,131,919 29,448,647 All Other (3) 306,777 1,275,217 Total revenue $ 34,438,696 $ 30,723,864 ___________________________ (1) Principal electrical construction operations includes revenue from transmission lines, distribution systems, substations and drilled pier foundations. (2) Other electrical construction includes revenue from storm work, fiber optics and other miscellaneous electrical construction items. (3) Mainly real estate construction revenue. The Company would have recognized $69,000 less revenue under legacy accounting practices for the three months ended March 31, 2018 , than it did under the new revenue standard. This was attributable to the assessment of variable consideration and performance obligations within our contractual arrangements. The aggregate amount of the transaction price allocated to performance obligations that are unsatisfied as of March 31, 2018 was $36.4 million . Of this total the amount expected to be satisfied within the next twelve months is $36.1 million and the remaining balance of $280,000 is expected to be satisfied beyond the next twelve months.

Restricted Cash (Tables)

Restricted Cash (Tables)	3 Months Ended
	Mar. 31, 2018
Restricted Cash and Investments [Abstract]
Schedule of Cash, Cash Equivalents, Restricted Cash and Restricted Cash and Cash Equivalents	The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the balance sheet that sum to the total of the same such amounts shown in the statement of cash flows as of the dates indicated: March 31, 2018 December 31, 2017 Cash and cash equivalents $ 16,566,711 $ 18,529,757 Restricted cash 102,027 102,027 Cash, cash equivalents and restricted cash shown in the consolidated statement of cash flows $ 16,668,738 $ 18,631,784

Goodwill and Other Intangible23

Goodwill and Other Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2018
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: March 31, 2018 December 31, 2017 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 $ (181,337 ) $ 458,663 $ 640,000 $ (170,670 ) $ 469,330 Customer relationships 20 350,000 (74,375 ) 275,625 350,000 (70,000 ) 280,000 Non-competition agreement 5 10,000 (8,997 ) 1,003 10,000 (8,664 ) 1,336 Other 1 13,800 (13,800 ) — 13,800 (13,800 ) — Total $ 1,013,800 $ (278,509 ) $ 735,291 $ 1,013,800 $ (263,134 ) $ 750,666

Organization and Summary of S24

Organization and Summary of Significant Accounting Policies - Narrative (Details)	Dec. 31, 2017USD ($)
ASU 2014-09 | Retained Earnings
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative effect of accounting principle	$ 30,000
ASU 2016-15
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Restricted Cash	$ 2,300

Contract Assets and Contract 25

Contract Assets and Contract Liabilities - Summary of Contract Assets and Liabilities (Details) - USD ($)	3 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Revenue from Contract with Customer [Abstract]
Contract assets	$ 13,697,310	$ 6,074,346
Change in contract assets	7,622,964
Contract liabilities	(127,076)	(367,552)
Change in contract liabilities	240,476
Net contract assets	13,570,234	$ 5,706,794
Total	$ 7,863,440

Contract Assets and Contract 26

Contract Assets and Contract Liabilities - Changes in Contract Assets and Liabilities (Details) - USD ($)	3 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Revenue from Contract with Customer [Abstract]
Cumulative adjustment due to changes in contract values	$ 1,364,446
Amounts reclassified to receivables	(1,130,132)
Revenue recognized in the period	25,017,253
Amounts reclassified to receivables	(17,567,969)
Impairment of contract assets	179,842
Total	7,863,440
Billings in excess of costs and estimated earnings on uncompleted contracts	$ 105,634	$ 166,268

Contract Assets and Contract 27

Contract Assets and Contract Liabilities - Narrative Performance Obligation (Details) $ in Thousands	Mar. 31, 2018USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2018-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 36,100
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	280
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: (nil)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 36,400

Income Taxes (Details)

Income Taxes (Details) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Operating Loss Carryforwards [Line Items]
Revenues	$ (34,438,696)	$ (30,723,864)
Income tax provision	$ (878,139)	$ (1,537,138)
Effective income tax rate	26.70%	36.60%
Federal statutory rate	21.00%	35.00%
Minimum amount of future taxable income required to realize deferred tax assets	$ 5,600,000
Unrecognized tax benefits	5,000		$ 5,000
Pro Forma | ASU 2014-09
Operating Loss Carryforwards [Line Items]
Revenues	40,000
Income tax provision	$ 10,000

Commitments and Contingencies29

Commitments and Contingencies Related to Discontinued Operations (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Discontinued Operations and Disposal Groups [Abstract]
Contingency provision within discontinued operations	$ 513	$ 522

Notes Payable and Other Long 30

Notes Payable and Other Long Term Debt (Details) - USD ($)	3 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Note payable balance	$ 20,760,000	$ 22,290,000
Less unamortized debt issuance costs	33,247	38,646
Total notes payable, net	20,726,753	22,251,354
Less current portion of notes payable, net	6,100,885	6,099,787
Notes payable net, less current portion	$ 14,625,868	16,151,567
Working Capital Loan
Debt Instrument [Line Items]
Maturity Date	Nov. 28, 2019
Note payable balance	$ 2,750,000	$ 2,750,000
Interest Rate	3.50%	3.38%
$22.6 Million Equipment Loan
Debt Instrument [Line Items]
Loan agreement face amount	$ 22,600,000
Maturity Date	Mar. 9, 2021
Note payable balance	$ 18,010,000	$ 19,540,000
Interest Rate	3.56%	3.25%

Notes Payable and Other Long 31

Notes Payable and Other Long Term Debt (Narrative) (Details) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Notes Payable (Textual) [Abstract]
Borrowings outstanding	$ 20,760,000		$ 22,290,000
Letter of credit related to workers' compensation	420,000		420,000
Repayments on notes payable	1,530,000	$ 1,531,056
Working Capital Loan
Notes Payable (Textual) [Abstract]
Revolving line of credit loan	18,000,000
Borrowings outstanding	2,750,000		$ 2,750,000
Equipment Purchase Loan Agreement
Notes Payable (Textual) [Abstract]
Loan agreement face amount	0
Monthly repayment amount	$ 10,687
Stated rate	5.85%
LIBOR | 2017 Master Loan Agreement
Notes Payable (Textual) [Abstract]
Basis spread added to monthly LIBOR	1.80%

Commitments and Contingencies32

Commitments and Contingencies (Details) $ in Millions	Mar. 31, 2018USD ($)
Perforamce Bond [Member]
Guarantor Obligations [Line Items]
Outstanding performance bonds	$ 48.4

Income Per Share of Common St33

Income Per Share of Common Stock (Details) - shares	Mar. 31, 2018	Dec. 31, 2017	Mar. 31, 2017
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

ASC 606 Revenue Recognition a34

ASC 606 Revenue Recognition and Significant Accounting Policies Disclosures - Disaggregation of Revenue (Details) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Disaggregation of Revenue [Line Items]
Total	$ 34,131,919	$ 29,448,647
All Other	306,777	1,275,217
Total revenue	34,438,696	30,723,864
Southeast
Disaggregation of Revenue [Line Items]
Total	11,984,171	17,440,296
mid-Atlantic
Disaggregation of Revenue [Line Items]
Total	9,274,423	6,166,611
Texas and Southwest
Disaggregation of Revenue [Line Items]
Total	12,203,065	5,165,646
Other electrical construction
Disaggregation of Revenue [Line Items]
Total	$ 670,260	$ 676,094

ASC 606 Revenue Recognition a35

ASC 606 Revenue Recognition and Significant Accounting Policies Disclosures - Narrative (Details) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue	$ (34,131,919)	$ (29,448,647)
Calculated under Revenue Guidance in Effect before Topic 606 | ASU 2014-09
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue	$ 69,000

ASC 606 Revenue Recognition a36

ASC 606 Revenue Recognition and Significant Accounting Policies Disclosures - Performance Obligation Narrative (Details) $ in Thousands	Mar. 31, 2018USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2018-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 36,100
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	280
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: (nil)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 36,400

Customer Concentration (Details

Customer Concentration (Details)	3 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Revenue [Member] | Major customers [Member]
Concentration Risk [Line Items]
Concentration risk, percentage	68.00%	66.00%

Restricted Cash (Details)

Restricted Cash (Details) - USD ($)	Mar. 31, 2018	Dec. 31, 2017	Mar. 31, 2017	Dec. 31, 2016
Restricted Cash and Investments [Abstract]
Cash and cash equivalents	$ 16,566,711	$ 18,529,757
Restricted cash	102,027	102,027
Cash, cash equivalents and restricted cash shown in the consolidated statement of cash flows	$ 16,668,738	$ 18,631,784	$ 14,401,329	$ 20,772,689

Goodwill and Other Intangible39

Goodwill and Other Intangible Assets (Details) - USD ($)	3 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Finite-Lived Intangible Assets [Line Items]
Goodwill	$ 101,407	$ 101,407
Gross Carrying Amount	1,013,800	1,013,800
Accumulated Amortization	(278,509)	(263,134)
Net Carrying Amount	735,291	750,666
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
Amortization expense, 2018	60,000
Amortization expense, 2019	60,000
Amortization expense, 2020	60,000
Amortization expense, 2021	60,000
Amortization expense, 2022	$ 60,000
Trademarks/Names [Member]
Finite-Lived Intangible Assets [Line Items]
Useful Life (Years)	15 years
Gross Carrying Amount	$ 640,000	640,000
Accumulated Amortization	(181,337)	(170,670)
Net Carrying Amount	$ 458,663	469,330
Customer relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Useful Life (Years)	20 years
Gross Carrying Amount	$ 350,000	350,000
Accumulated Amortization	(74,375)	(70,000)
Net Carrying Amount	$ 275,625	280,000
Non-compete agreement [Member]
Finite-Lived Intangible Assets [Line Items]
Useful Life (Years)	5 years
Gross Carrying Amount	$ 10,000	10,000
Accumulated Amortization	(8,997)	(8,664)
Net Carrying Amount	$ 1,003	1,336
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