Contracts in Process

3 Months Ended

Mar. 31, 2013

Contracts in Process

Contracts in Process

3. Contracts in Process

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

(In thousands)	March 31, 2013		December 31, 2012
Costs and estimated earnings on uncompleted contracts	$	1,554,209	$	1,439,455
Less: Billings to date		1,543,175		1,410,271
	$	11,034	$	29,184

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

(In thousands)	March 31, 2013			December 31, 2012
Costs and estimated earnings in excess of billings on uncompleted contracts	$	43,274		$	61,773
Billings in excess of costs and estimated earnings on uncompleted contracts		(32,240	)		(32,589	)
	$	11,034		$	29,184