Accounts Receivable and Inventories (Tables)

12 Months Ended

Dec. 31, 2016

Accounts Receivable and Inventories [Abstract]

Schedule of accounts receivable

Accounts receivable consist of the following:

(In thousands)	December 31 2016			December 31 2015
Trade accounts receivable	$	248,354		$	280,526
Less: Allowance for doubtful accounts	(11,800		)	(25,649		)
Trade accounts receivable, net	$	236,554		$	254,877
Other receivables (a)	$	21,053		$	30,395

(a) Other receivables include insurance claim receivables, employee receivables, tax claim receivables and other miscellaneous receivables not included in Trade accounts receivable, net

Schedule of provision for doubtful accounts related to trade accounts receivable

The following table reflects the provision for doubtful accounts related to trade accounts receivable for the years ended December 31, 2016, 2015 and 2014:

	Years Ended December 31
(In thousands)	2016			2015		2014
Provision for doubtful accounts related to trade accounts receivable	$	(38	)	$	13,047	$	9,892

Schedule of inventories

nventories consist of the following:

(In thousands)	December 31 2016		December 31 2015
Finished goods	$	26,464	$	32,586
Work-in-process	22,815		30,959
Contracts-in-process	54,044		55,786
Raw materials and purchased parts	61,450		70,755
Stores and supplies	22,908		26,881
Total inventories	$	187,681	$	216,967
Valued at lower of cost or market:
LIFO basis	$	79,933	$	102,309
FIFO basis	64,742		64,760
Average cost basis	43,006		49,898
Total inventories	$	187,681	$	216,967

Schedule of contracts in process

Contracts-in-process consist of the following:

(In thousands)	December 31 2016			December 31 2015
Contract costs accumulated to date	$	90,276		$	55,786
Estimated forward loss provisions for contracts-in-process (b)	(36,232		)	—
Contracts-in-process (c)	$	54,044		$	55,786

(b) To the extent that the estimated forward loss provision exceeds accumulated contract costs it is included in Other current liabilities on the Consolidated Balance Sheets. At December 31, 2016 this amount totaled $6.7 million.

(c) At December 31, 2016 and December 31, 2015, the Company has $101.1 million and $82.7 million, respectively, of customer advances related to contracts-in-process. These amounts are included in Advances on contracts on the Consolidated Balance Sheets.