BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Tables)

3 Months Ended

Mar. 31, 2014

Contract Receivables

A summary of contract receivables is as follows:

	March 31, 2014			December 31, 2013
	(Unaudited)
	(In thousands)
Contract receivables:
Contracts in progress	$	189,044		$	192,745
Completed contracts		55,880			77,248
Retainages		110,718			127,698
Unbilled		4,325			14,571
Less allowances		(27,905	)		(30,404	)
Accounts receivable—trade, net	$	332,062		$	381,858

Retainages on Contracts

The following is a summary of retainages on our contracts:

	March 31, 2014		December 31, 2013
	(Unaudited)
	(In thousands)
Retainages expected to be collected within one year	$	110,718	$	127,698
Retainages expected to be collected after one year		107,315		65,365
Total retainages	$	218,033	$	193,063

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:

	March 31, 2014		December 31, 2013
	(Unaudited)
	(In thousands)
Costs incurred less costs of revenue recognized	$	127,773	$	65,113
Revenues recognized less billings to customers		304,120		360,873
Contracts in Progress	$	431,893	$	425,986

	March 31, 2014			December 31, 2013
	(Unaudited)
	(In thousands)
Billings to customers less revenue recognized	$	496,040		$	466,205
Costs incurred less costs of revenue recognized		(217,159	)		(187,276	)
Advance Billings on Contracts	$	278,881		$	278,929

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

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

	March 31, 2014			December 31, 2013
	(Unaudited)
	(In thousands)
Foreign currency translation adjustments	$	(2,882	)	$	(2,562	)
Net gain on investments		214			238
Net loss on derivative financial instruments		(30,824	)		(45,386	)
Unrecognized losses on benefit obligations		(89,250	)		(92,421	)
Accumulated other comprehensive loss	$	(122,742	)	$	(140,131	)

Reclassifications [Member]

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 March 31, 2014	Unrealized holding loss on investment			Deferred gain (loss) on derivatives(1)			Foreign currency gain (loss)			Defined benefit pension plans loss(2)			TOTAL
	(Unaudited)
	(In thousands)
Balance, December 31, 2013	$	238		$	(45,386	)	$	(2,562	)	$	(92,421	)	$	(140,131	)
Other comprehensive income (loss) before reclassification		(24	)		12,358			(320	)		—			12,014
Amounts reclassified from AOCI		—			2,204	(3)		—			3,171	(4)		5,375
Net current period other comprehensive income (loss)		(24	)		14,562			(320	)		3,171			17,389
Balance, March 31, 2014	$	214		$	(30,824	)	$	(2,882	)	$	(89,250	)	$	(122,742	)

For the three months ended March 31, 2013	Unrealized holding loss on investment			Deferred gain (loss) on derivatives(1)			Foreign currency gain (loss)			Defined benefit pension plans loss(2)			TOTAL
	(Unaudited)
	(In thousands)
Balance, December 31, 2012	$	(2,315	)	$	11,734		$	(3,366	)	$	(100,466	)	$	(94,413	)
Other comprehensive income before reclassification		401			(15,450	)		7,214			—			(7,835	)
Amounts reclassified from AOCI		—			(2,104	)(3)		—			3,655	(4)		1,551
Net current period other comprehensive income		401			(17,554	)		7,214			3,655			(6,284	)
Balance, March 31, 2013	$	(1,914	)	$	(5,820	)	$	3,848		$	(96,811	)	$	(100,697	)

(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.