Accounts Receivable and Inventories

Accounts receivable consist of the following:



(In thousands)	December 31 2017			December 31 2016
Trade accounts receivable	$	292,765		$	248,354
Less: Allowance for doubtful accounts	(4,731		)	(11,800		)
Trade accounts receivable, net	$	288,034		$	236,554
Other receivables (a)	$	20,224		$	21,053


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

The decrease in Allowance for doubtful accounts in 2017 is due to the write-off of previously reserved accounts receivable balances.

The provision for doubtful accounts related to trade accounts receivable was as follows:



	Years Ended December 31
(In thousands)	2017		2016			2015
Provision for doubtful accounts related to trade accounts receivable	$	5,346	$	(38	)	$	13,047

The increase in the provision for doubtful accounts for the year ended 2017 is due principally to the write-off of certain pre-administration receivable balances for one of the Company's customers in Australia.

Inventories consist of the following:



(In thousands)	December 31 2017		December 31 2016
Finished goods	$	26,415	$	26,464
Work-in-process	24,367		22,815
Contracts-in-process	45,599		54,044
Raw materials and purchased parts	58,943		61,450
Stores and supplies	22,969		22,908
Total inventories	$	178,293	$	187,681
Valued at lower of cost or market:
LIFO basis	$	80,644	$	79,933
FIFO basis	52,832		64,742
Average cost basis	44,817		43,006
Total inventories	$	178,293	$	187,681

Inventories valued on the LIFO basis at both December 31, 2017 and 2016 were approximately $33 million less than the amounts of such inventories valued at current costs. During 2017 and 2016, as a result of reducing certain inventory quantities valued on a LIFO basis, net income (loss) decreased from that which would have been recorded under the FIFO basis of valuation by $0.4 million and $1.3 million, respectively. During 2015, there was no significant impact on net income (loss) as a result of reducing certain inventory quantities valued on a LIFO basis.

Contracts-in-process consist of the following:



(In thousands)	December 31 2017			December 31 2016
Contract costs accumulated to date	$	73,740		$	90,276
Estimated forward loss provisions for contracts-in-process (b)	(28,141		)	(36,232		)
Contracts-in-process (c)	$	45,599		$	54,044


(b)	To the extent that the estimated forward loss provision exceeds accumulated contract costs it is included in the caption Other current liabilities on the Consolidated Balance Sheets. At December 31, 2017 and December 31, 2016, this amount totaled $3.0 million and $6.7 million, respectively.


(c)	At December 31, 2017 and December 31, 2016, the Company has $97.9 million and $101.1 million, respectively, of customer advances related to contracts-in-process. These amounts are included in Advances on contracts and other customer advances on the Consolidated Balance Sheets.

During 2016, as a result of increased vendor costs, ongoing discussions with SBB, and increased estimates for commissioning, certification and testing costs, as well as expected settlements with SBB, the Company concluded it will have a loss on the contracts with SBB. The Company recognized an estimated forward loss provision related to the SBB contracts of

$45.1 million for the year ended December 31, 2016 in Costs of products sold on the Consolidated Statements of Operations. There was no estimated forward loss provision recognized for the years ended December 31, 2017 or 2015. The estimated forward loss provision represents the Company's best estimate best on currently available information. It is possible that the Company's overall estimate of costs to complete these contracts may increase which would result in an additional estimated forward loss provision at such time, but the Company is unable to estimate any further possible loss or range of loss at December 31, 2017.