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REVENUE RECOGNITION AND CONTRACTS (Tables)
 6 Months Ended
Jun. 30, 2022
Revenue from Contract with Customer [Abstract]  
Schedule of Contracts in Progress and Advance Billings on Contracts
The following represents the components of our Contracts in progress and Advance billings on contracts included in our Condensed Consolidated Balance Sheets:
(in thousands)June 30, 2022December 31, 2021$ Change% Change
Contract assets - included in contracts in progress:
Costs incurred less costs of revenue recognized$40,822 $35,939 $4,883 14 %
Revenues recognized less billings to customers71,091 44,237 26,854 61 %
Contracts in progress$111,913 $80,176 $31,737 40 %
Contract liabilities - included in advance billings on contracts:
Billings to customers less revenues recognized$97,318 $68,615 $28,703 42 %
Costs of revenue recognized less cost incurred (1,600)(235)(1,365)581 %
Advance billings on contracts$95,718 $68,380 $27,338 40 %
Net contract balance$16,195 $11,796 $4,399 37 %
Accrued contract losses$1,849 $378 $1,471 389 %
Schedule of Recognized Changes in Estimated Gross Profit
In the three and six June 30, 2022 and 2021, we recognized changes in estimated gross profit related to long-term contracts accounted for on the over time basis, which are summarized as follows:
Three Months Ended June 30,Six Months Ended June 30,
(in thousands)2022202120222021
Increases in gross profit for changes in estimates for over time contracts$5,348 $2,314 $8,689 $5,339 
Decreases in gross profit for changes in estimates for over time contracts(2,612)(3,137)(5,474)(4,495)
Net changes in gross profit for changes in estimates for over time contracts$2,736 $(823)$3,215 $844