CONTRACTS IN PROGRESS AND ADVANCE BILLINGS ON CONTRACTS

3 Months Ended

Mar. 31, 2017

Contractors [Abstract]

CONTRACTS IN PROGRESS AND ADVANCE BILLINGS ON CONTRACTS

NOTE 7—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, 2017			December 31, 2016
	(In thousands)
Costs incurred less costs of revenue recognized	$	61,019		$	119,688
Revenues recognized less billings to customers		412,722			199,450
Contracts in Progress	$	473,741		$	319,138
Billings to customers less revenue recognized		188,238			42,637
Costs incurred less costs of revenue recognized		(98,535	)		149,849
Advance Billings on Contracts	$	89,703		$	192,486