BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2013

A summary of contract receivables is as follows:


	December 31,
	2013			2012
	(In thousands)
Contract receivables:
Contracts in progress	$	192,745		$	273,729
Completed contracts		77,248			38,858
Retainages		127,698			133,619
Unbilled		14,571			4,710
Less allowances		(30,404	)		(22,116	)

Accounts receivable—trade, net	$	381,858		$	428,800

The following amounts represent retainages on contracts:


	December 31,
	2013		2012
	(In thousands)
Retainages expected to be collected within one year	$	127,698	$	133,619
Retainages expected to be collected after one year		65,365		32,085

Total retainages	$	193,063	$	165,704

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


	December 31, 2013		December 31, 2012
	(In thousands)
Costs incurred less costs of revenue recognized	$	65,113	$	65,321
Revenues recognized less billings to customers		360,873		494,833

Contracts in Progress	$	425,986	$	560,154


	December 31, 2013			December 31, 2012
	(In thousands)
Billings to customers less revenue recognized	$	466,205		$	394,352
Costs incurred less costs of revenue recognized		(187,276	)		(152,656	)

Advance Billings on Contracts	$	278,929		$	241,696

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


	December 31,
	2013			2012
	(In thousands)
Foreign currency translation adjustments	$	(2,562	)	$	(3,366	)
Net loss on investments		238			(2,316	)
Net gain on derivative financial instruments		(45,386	)		11,735
Unrecognized losses on benefit obligations		(92,421	)		(100,466	)

Accumulated other comprehensive loss⁽¹⁾	$	(140,131	)	$	(94,413	)

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

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

The following summarizes the carrying amount of goodwill by segment at December 31, 2013 and 2012:

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


	Year Ended December 31,
	2013			2012
	(In thousands)
Balance at beginning of period	$	13,761		$	17,125
Debt issuance costs and performance guarantees		4,905			—
Amortization of interest expense		(3,715	)		(3,364	)

Balance at end of period	$	14,951		$	13,761

Reclassifications

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


For the year ended December 31, 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, January 1, 2013	$	(2,316	)	$	11,735		$	(3,366	)	$	(100,466	)	$	(94,413	)
Other comprehensive income (loss)		920			(52,781	)		804			(9,542	)		(60,599	)
Amounts reclassified from AOCI		1,634			(4,340	)⁽³⁾		—			17,587	⁽⁴⁾		14,881

Net current period other comprehensive income (loss)		2,554			(57,121	)		804			8,045			(45,718	)

Balance, December 31, 2013	$	238		$	(45,386	)	$	(2,562	)	$	(92,421	)	$	(140,131	)

(1)	Refer to Note 5 for additional details

(2)	Refer to Note 4 for additional details

(3)	Reclassified to cost of operations and gain on foreign currency, net

(4)	Reclassified to selling, general and administrative expenses