Revenue Recognition (Tables)

3 Months Ended

Mar. 31, 2018

Revenue from Contract with Customer [Abstract]

Summary of Impact of Contracts in Progress on Statement of Operations

The following table summarizes the impact of the change in significant contract accounting estimates on the Company’s Aerospace and Defense segment operating results:

	Three months ended March 31,
	2018			2017
	(In millions, except per share amounts)
Net (unfavorable) favorable effect of the changes in contract estimates on net sales	$	(7.4	)	$	3.9
Net (unfavorable) favorable effect of the changes in contract estimates on income before income taxes	(7.9		)	3.4
Net (unfavorable) favorable effect of the changes in contract estimates on net income	(5.9		)	2.0
Net (unfavorable) favorable effect of the changes in contract estimates on basic and diluted net income per share	(0.08		)	0.03

Schedule of Contract Asset and Liability

A summary of the contract assets and liabilities is as follows:

	March 31, 2018			December 31, 2017
	(In millions)
Contract assets	$	308.9		$	310.9
Reserve for overhead rate disallowance	(42.9		)	(42.8		)
Contract assets, net of reserve	266.0			268.1
Contract liabilities	212.6			276.8
Net contract assets (liabilities), net of reserve	$	53.4		$	(8.7	)

Schedules of Percentage of Net Sales by Contract and Customer Type

The following are percentages of net sales by contract type:

	Three months ended March 31,
	2018		2017
Fixed-price	59	%	56	%
Cost-reimbursable	38		41
Other	3		3

The following are percentages of net sales by customer type:

	Three months ended March 31,
	2018		2017
U.S. government	92	%	93	%
Non U.S. government customers	8		7