CONTRACTS IN PROGRESS AND ADVANCE BILLINGS ON CONTRACTS

9 Months Ended

Sep. 30, 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:

	September 30, 2017			December 31, 2016
	(In thousands)
Costs incurred less costs of revenue recognized	$	108,149		$	119,688
Revenues recognized less billings to customers		747,382			199,450
Contracts in Progress	$	855,531		$	319,138
Billings to customers less revenue recognized		73,765			42,637
Costs incurred less costs of revenue recognized		(30,972	)		149,849
Advance Billings on Contracts	$	42,793		$	192,486