BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2012

Contracts Receivables

A summary of contract receivables is as follows:

	December 31,
	2012			2011
	(In thousands)
Contract receivables:
Contracts in progress	$	273,729		$	371,223
Completed contracts		38,858			28,369
Retainages		133,619			65,248
Unbilled		4,710			5,650
Less allowances		(22,116	)		(24,682	)
Accounts receivable—trade, net	$	428,800		$	445,808

Retainages on Contracts

The following amounts represent retainages on contracts:

	December 31,
	2012		2011
	(In thousands)
Retainages expected to be collected within one year	$	133,619	$	65,248
Retainages expected to be collected after one year		32,085		74,539
Total retainages	$	165,704	$	139,787

Components of Accumulated Other Comprehensive Income (Loss) included in Stockholders' Equity

The components of accumulated other comprehensive income (loss) (“AOCI”) included in stockholders’ equity are as follows:

	December 31,
	2012			2011
	(In thousands)
Foreign currency translation adjustments	$	(3,366	)	$	(12,438	)
Net loss on investments		(2,316	)		(4,403	)
Net gain on derivative financial instruments		11,735			3,089
Unrecognized losses on benefit obligations		(100,466	)		(88,278	)
Accumulated other comprehensive loss(1)	$	(94,413	)	$	(102,030	)

(1) The tax impact on amounts presented in AOCI are not significant.

Summary of Property Plant Equipment by Asset Category

A summary of property, plant and equipment by asset category is as follows:

	Year Ended December 31,
	2012			2011
	(In thousands)
Marine Vessels	$	882,921		$	812,322
Construction Equipment		546,305			545,765
Construction in Progress		395,949			343,555
Buildings		165,853			136,587
All other		124,148			120,648
Total Cost		2,115,176			1,958,877
Accumulated Depreciation		(833,385	)		(857,012	)
Net Book Value	$	1,281,791		$	1,101,865

Carrying Amount of Goodwill by Segment

The following summarizes the carrying amount of goodwill by segment at December 31, 2012 and 2011:

Asia Pacific	Middle East	Total
$    19,777	$21,425	$41,202

Changes in Carrying Amount of Deferred Debt Issuance Costs

The following summarizes the changes in the carrying amount of these assets:

	Year Ended December 31,
	2012			2011
	(In thousands)
Balance at beginning of period	$	17,125		$	16,073
Debt issuance costs and performance guarantees		—			4,944
Amortization of interest expense		(3,364	)		(3,892	)
Balance at end of period	$	13,761		$	17,125