BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Tables)

9 Months Ended

Sep. 30, 2013

Contracts Receivables

A summary of contract receivables is as follows:

	September 30, 2013			December 31, 2012
	(Unaudited)
	(In thousands)
Contract receivables:
Contracts in progress	$	159,768		$	273,729
Completed contracts		104,397			38,858
Retainages		95,283			133,619
Unbilled		4,325			4,710
Less allowances		(22,315	)		(22,116	)
Accounts receivable—trade, net	$	341,458		$	428,800

Retainages on Contracts

The following is a summary of retainages on our contracts:

	September 30, 2013		December 31, 2012
	(Unaudited)
	(In thousands)
Retainages expected to be collected within one year	$	95,283	$	133,619
Retainages expected to be collected after one year		83,652		32,085
Total retainages	$	178,935	$	165,704

Components of Contracts in Progress and Advance Billings on Contracts

A detail of the components of contracts in progress and advance billings on contracts is as follows:

	September 30, 2013		December 31, 2012
	(Unaudited)
	(In thousands)
Costs incurred less costs of revenue recognized	$	91,401	$	65,321
Revenues recognized less billings to customers		494,719		494,833
Contracts in Progress	$	586,120	$	560,154

	September 30, 2013			December 31, 2012
	(Unaudited)
	(In thousands)
Billings to customers less revenue recognized	$	476,747		$	394,352
Costs incurred less costs of revenue recognized		(164,479	)		(152,656	)
Advance Billings on Contracts	$	312,268		$	241,696

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

The components of AOCI included in stockholders’ equity are as follows:

	September 30, 2013			December 31, 2012
	(Unaudited)
	(In thousands)
Foreign currency translation adjustments	$	(4,131	)	$	(3,366	)
Net loss on investments		(1,717	)		(2,316	)
Net gain (loss) on derivative financial instruments		(33,229	)		11,735
Unrecognized losses on benefit obligations		(90,158	)		(100,466	)
Accumulated other comprehensive loss	$	(129,235	)	$	(94,413	)

Reclassifications

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

The following tables present the components of AOCI and the amounts that were reclassified during the period:

For the three months ended September 30, 2013	Unrealized holding gain (loss) on investment			Deferred gain (loss) on derivatives(1)			Foreign currency gain (loss)			Defined benefit pension plans gain (loss)(2)			Total
	(Unaudited)
	(In thousands)
Balance, June 30, 2013	$	(1,875	)	$	(58,316	)	$	(2,886	)	$	(93,596	)	$	(156,673	)
Other comprehensive income (loss)		158			24,767			(1,245	)		—			23,680
Amounts reclassified from AOCI		—			320	(3)		—			3,438	(4)		3,758
Net current period other comprehensive income (loss)		158			25,087			(1,245	)		3,438			27,438
Balance, September 30, 2013	$	(1,717	)	$	(33,229	)	$	(4,131	)	$	(90,158	)	$	(129,235	)

For the nine months ended September 30, 2013	Unrealized holding gain (loss) on investment			Deferred gain (loss) on derivatives(1)			Foreign currency gain (loss)			Defined benefit pension plans gain (loss)(2)			Total
	(Unaudited)
	(In thousands)
Balance, December 31, 2012	$	(2,316	)	$	11,735		$	(3,366	)	$	(100,466	)	$	(94,413	)
Other comprehensive income (loss)		599			(46,246	)		(765	)		—			(46,412	)
Amounts reclassified from AOCI		—			1,282	(3)		—			10,308	(4)		11,590
Net current period other comprehensive income (loss)		599			(44,964	)		(765	)		10,308			(34,822	)
Balance, September 30, 2013	$	(1,717	)	$	(33,229	)	$	(4,131	)	$	(90,158	)	$	(129,235	)

(1) Refer to Note 5 for additional details

(2) Refer to Note 4 for additional details

(3) Reclassified to cost of operations

(4) Reclassified to selling, general and administrative expenses