RECEIVABLES

6 Months Ended

Jun. 30, 2022

Receivables [Abstract]

RECEIVABLES

RECEIVABLES

Receivables primarily include amounts billed to customers, unbilled charges on long-term contracts consisting of amounts recognized as sales but not billed, and other receivables. Substantially all amounts of unbilled receivables are expected to be billed and collected within one year. An immaterial amount of unbilled receivables are subject to retainage provisions. The amount of claims and unapproved change orders within our receivables balances are immaterial.

The composition of receivables is as follows:

(In thousands)	June 30, 2022		December 31, 2021
Billed receivables:
Trade and other receivables	$	414,195	$	362,007
Unbilled receivables (contract assets):
Recoverable costs and estimated earnings not billed	291,485		291,758
Less: Progress payments applied	(688)		(1,297)
Net unbilled receivables	290,797		290,461
Less: Allowance for doubtful accounts	(5,360)		(5,320)
Receivables, net	$	699,632	$	647,148