Contracts in Process

9 Months Ended

Sep. 30, 2012

Contracts in Process

Contracts in Process

3. Contracts in Process

        The net asset position for contracts in process consisted of the following:

(In thousands)	September 30, 2012		December 31, 2011
Costs and estimated earnings on uncompleted contracts	$	1,364,262	$	1,027,805
Less: Billings to date		1,331,220		1,009,056
	$	33,042	$	18,749

        The net asset position for contracts in process included in the accompanying consolidated balance sheets was as follows:

(In thousands)	September 30, 2012			December 31, 2011
Costs and estimated earnings in excess of billings on uncompleted contracts	$	63,107		$	43,694
Billings in excess of costs and estimated earnings on uncompleted contracts		(30,065	)		(24,945	)
	$	33,042		$	18,749