Accounts Receivable and Inventories (Tables)

12 Months Ended

Dec. 31, 2017

Accounts Receivable and Inventories [Abstract]

Schedule of accounts receivable

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

Schedule of provision for doubtful accounts related to trade accounts receivable

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

Schedule of inventories

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

Schedule of contracts in process

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.