CONTRACTS IN PROGRESS AND ADVANCE BILLINGS ON CONTRACTS

6 Months Ended

Jun. 30, 2016

Contractors [Abstract]

CONTRACTS IN PROGRESS AND ADVANCE BILLINGS ON CONTRACTS

NOTE 6—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:

	June 30, 2016		December 31, 2015
	(In thousands)
Costs incurred less costs of revenue recognized	$	93,047	$	112,819
Revenues recognized less billings to customers		211,743		323,010
Contracts in Progress	$	304,790	$	435,829
Billings to customers less revenue recognized		30,484		265,618
Costs incurred less costs of revenue recognized		70,937		(100,845	)
Advance Billings on Contracts	$	101,421	$	164,773